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"Investmeritft
M.
- 1 HE BONDS lilted in
ur Mty circular are the
f current recommendations
ex xrus company, isacn
bend en the list merits
5 the highest consideration
irem investors.
X copy will be sent
te you upon request.
jntrfssb'eial Gty Ctmpasy
SkU 1417 CbMtaat St.
City Ch-lfeat- Black
ii. 1328 Boardwalk
aWafafc 'A'ssltsM BmisBtilM
! Iflllll II I ! I
MMI
IN THE a GROUP
Vigorous Bullish Demonstra
tions in (Vtest All of the Do De
mestic Petroleum Shares
NEW YORK STOCK EXCHANGE TRANSACTIONS
H. Rollins & Sens
Founded ISIS
Investment Bends
1421 Chestnut St., Philadelphia
jS. Dien. lAKOtl 7300
Motion Xete Yerk Wllkn.Tlarrr.
tWaWmere
tr
m
Chicago San Franclace
Niagara Falls Power Ce.
6'., Jan. 1932
' 103V2 and Interest
Tax Free Pennsylvania
Penn Public Service Cerp.
r, 6's, Dec. 1947
BVz and Interest, Yielding
6
Descriptive circulars en request
. . ii
.ft ,
f H mi
5 I Atlantic & Danville
f HI m M 0 I
V I 1st 4's 1345
i H At nriV (n v!lrl Ii
,- . . r.... -. ,...
si W Nafmal httAmrml innma fair II
a i '--- " --
e-S W l. . .--J L III
aj v i-i-r-i( -uaraniaca ny
i. .l d e - II
SI ginncrn i. n. 1.0. it
ft" Iff II
'VV Ml WlOIHta BLDC, PHII.aOIlHlA IIS
"" 1 . MmimPJUftAMhatJ Ui
h L-. NmrotttSteckxdft I
rift9 .-l-'', ve msassni wj rt
:'l8lliiHHJJ.llll
IflHBT4 Rfcl 1 1 svl WUm I
" ' aT bbbbbbbbBsiAIbW V RAsSH55J U I
I X
6
w Yerli, May 3. The oil shares
came In for another bljf Inning in to
day's stock mnrkct as result of con-
1 Untied program of picking one group of
stocks up after another. Speculative
Interest for the greater part of the ses
sion was concentrated In the petroleum
group with the domestic lisucs the big
attractleni under the leadership of the
Standard Oil Issues. The widest mote mete
men was in Associated Oil, which
rese ever 0 points, jumping 1 and -points
between scale. Standard Oil of
New Jersey and California nt the same
time made sensational upturns. 1'ncl
flc Oil joined the list of record break
ers, moving up ever 2 points. Gains,
however, of 1 te ever .1 points were
at the same time registered by Trans
port Texas, Housten, Producers and
IteflncrH and ethers.
The bullish demonstration was mere
remarkable In view of the hesitancy of
the former leaders of the Industrial
and railroad divisions and the character
of the news In connection with the
Genea conference, Including the further
move toward dissension en the part of
French delegates. Call money's opening
quotation of 4j per cent, the highest
Initial rate in several weeks, ulse sug
gested tljhtcr money tendencies, and bv
.eine was Interpreted as en additional
signal from the powers-te-bo te check
further extension of the speculative
activities.
As in many of the tcccnt sessions
these advert influences were easily
swept nslde and entirely Ignored by the
speculative forces. A great deal mere
Interest was attached te the widespread
rumor that prices of crude and refined
oils were te be further ndvnnccd dur
ing the current week, and nNe te the
t nclful reports of another Standard
Oil melon. It was net unnatural
' iTi'feiP rlie oils enntinueu te over ever over
nhadew all ether dealings. The specu
lative character of the market was
strongly reflected In the renewed peel
activities net only in the oil group, but
also in the spirited uplifting of the sec
ondary meters and affiliated specialties.
This class of stocks one after another
ven picked tip and run up fieni 1
te ever .1 points.
Commodity Markets
GRAIN MARKET
Chlcs.re. Mav 3. With the exception
of Mu contracts, which moved up n
little, the wheat opening was u shade
punier fhN merninz. which reflected an
Improvement in Southwest crop news.
Tin- May position Is still tight and
vcrr uncertain, but Chicago advices
said it was believed a geed deal would
be moved out.
Cern opened steady and n trifle higher
en the light, movement and delay te
planting due te rains.
uats were quiet nu steauy wuu corn
Hiiiiiiiiiiimiinii im'
-1!
.. . .", . '", ,. C -ew ion, .May ... i'ni cotton rai
J?18 ,SSUe of bends underlies C kct opened active at an advance of '2
" J' f8850,000 of a Corporation's iSlJ point. Uuin? was induced by p
.: ;.
... t
i -
.
R-
l'iV-
FIRST CLOSED MORTGAGE
. 5 Bends Due 1927
Yielding 7.10
bends supplying
electric service te
eras ana
about 3 i
communities in Indiana and 'E trll "nVahlerTi'M BvibKh,?!ier
srfw t- i. ., ., t eables from Liverpool. V hile new
Kentucky. It alde operates an
iaterurban system between
Indiananelis and Louisville.
J Interest en underlying bends
Circular C. I. en request
'Fairman & Company
Drexel Building, Phila.
Entabllthrd 190!
Corretpendentt
A. H. Bickmore & Ce.
Ill Broadway, New Yerk
inimiiiiiiimiiiiiiiiiii
Cern
Miv . .
Jut- .
Sentmbr
Wheal
Jutv .
September
Oats
Miy .. .
Julj- . . .
September
May .
July
tfntembr
RIbi
II a y . .
I.artt
SeTimler
Bid.
Vest, c'.e Opir
fll7 fllT r
C3H
fSsJ)
UOH
05 i
1 4V, 1.14'; 1 -14
1 2S, 1 'JR' ra l.SS'i
i.:e
1.1U4
4 0,i
a7
4lV Q
4.'
l.HSt
J.OA
11.45
40i
1 ' M
2
ea.
C8'5
1.4SJ,
1 2hS
1 'JO
3T.
411U
421i
liO'i
11 3T
COTTON MARKET
New Ynrh, May 3. The cotton mar-
te
uri-
vate renertn of heavy raliin at numerous
IHiints in th" Dclt, epecieilv the cen
Wh I
V:
iiir
i est '
l"
m
W
k
v&
nti
PROGRESS
Te these willing te main
tain adequate balances we
offer credit resources suffi
cient te meet the needs of
expanding busineis.
ICOMMERCIAL
$TRUST COMPANY
&' ' Member Federal Reierve Sriiem
''-:. pi... u.ll c.....
jpnnf .y wuate
purchnslnz appeared through cemmis
sien houses, there altte was heavy
realizing bj some of yesterday's buyers
Liverpool va it buyer and .lnpanes.e in
terentH took July. The list worked off
n little nfter the start and at the end
of the first llfteen minutes was about
tven with the preieus close.
Receipts at the ports for the day are
estimated at 14,000 bales, against 0S3U
bales a week nge, 1?J,27J bales a year
age and JO, 1-U bales two jcary age.
I'r'vlem 12
i'lee Op'i A M.
Mnv . . Ifi.tiO 10. TO lfi 4T
July . IS S7 11). 00 1S.7J
October . . 10.00 10 te lb.SO
Jinuir . IS t7 .
IMrih . 1"QS 18 01
NEW YORK COFFEE MARKET
New Yerli. May ."..The local coffee
futures market opened 8 te 11 pelnti
higher this tnurnlug. Ssantes cnbles to te to
perliil Miurp ndvnnees theri- and there
was netliins in the news te detract from
1 the geriernlly bullish feeling. A broker
i'iepv identified with houses of foreign
uiiinei tlen was a free bujer e Sep
tember and March.
'lHte'l C!os
J. ie n
'"frt-mrer . 11747'.
Drcmbr enidiu
jrari.li !' ."0
10 27f2S
s S'.flrsn
(i n7e
0 CO CJ 70
Government
of the
Dominion of Canada
r
i
A
l
, I
J
en.,. co nj Da.j.
U NON-CALLABLE
V FOR TWENTY YEARS
Price 100 and Interest
ii ' t v:u tief-
w .v. u
w
lCKIe, creuse Ce.
"BAI..KSTATE Tilt' ST lit' II.DINU
FSinUl 0-iU IHL-0 U9D
LONDON STOCK MARKET
Oils Aaaln Buoyant French Leans
Weak Diamonds Display Strength j
IHulen. Mn 3. In tlie fnrp of con-1
fused denials of the published steilesj
about tle (oneluslen of nn arrangement j
nt Genea by the Shell oil interests'
with the Soviet delegation for ex- ,
tensive concessions In Russia, oil)
nlnireH weic biiiiyant again en the stock,
exihange tedn. Ilev.il Dutch tneed
up te m-,s and Mien 'Lrnnsperc nmi
Trading te Ti'j. Mexican Igl was
3lj, 1'iofit-teklnr brought about re re
eckslens in the gilt edged list, and
Trench leans also became weaker, after
having milled.
further linnrevement renerts as te
' trade made mjiiic home railway issues
idieerful. Dellar de-ciiptlens were eulct
land firm In sympathy with New erk.
Argentine lulls were well maintained.
Diamond- illsphijcd stieugth. Trad
, lug In Ka Mrs was professional, with
rl.enges narrow. Itubhers were dull, but
I unchanged. There was geed suppeu in
I the Industrial list, which was hard.
I Hudsen's Hnv was tl lfi-lO. Generally,
i the markets lacked leadership, and wcre
Iricgulat'.
rteld I
:tie
U. S. Certificates and Treasury Notes
Maturity
Ul" lllil AUKfl
inn i -in incut
lOii 7. aj liieii-na
lM'l 10iitl-lil
lll I-3J Kid 7-111
tee
100 (1-1 ll
ion D-tu
1111
Int
Hide
t'l', June. 1 !-.'..
t'.l'-j June, 1U J.'
Ei'-j AMKUt. 1U2J
14Vi Hept , IO.'.1
t .,'! .uel,, 192.' ..
1IIJ2
ireh. Ki23.
t"a, June, uui
Dlv.
Sties In I STOCK Itlth
100 3 Advance. Itumely pf. 48 J,
300 4 Air Reduction ...... 53
300 .. AJax Rubber 17ft
4O0 4 Allied Chtm Dye. 67
.100 4 Atlls-Chalmtrs .... SOU
1800 .. Am AtTle Chm. . . . 40H
100 .. Am Atrie Chem pf. .68
3400 .. Am Besch Magneto 4SK
100 4 Am B Shoe Vdy new 61
200 7 Am M She P pf new 105
2500 .. Am Can..w 4J
200 12 An, cir & FOV....162
500 .. Am Chicle 14
.. Am Cotten Oil 25
. . Am Urug- Syn 6
.. Am Hlde ft Leather 15H
7 Am Ice 107
6 Am Ice pf.. 00 'A
.. Am Intermit Cerp.. 46 ft
1 Am-La France Eng 12
.. Am Linseed 33 '4
6 Am Locomotive ... 1 1 7
"Am LocemotUo pf .11 14
4 Am Radiator 97
.. Am Safety Razor... 7!4
.. Am Ship ft Cem.,.. 16M
.. Am Smelt 58 ft
.. Am Smelt pf See A 92 ft
3 Am Steel Foundries. 39H
.. Am Sugar Ret 76ft
7 Am Sugar lief pf..101
.. Am Sumatra 35H
6 Am Tel ft cable... 60ft
9 Am Tel ft Tel 122ft
12 Am Tobacco. .......141
IS Am Tobacco B 137J4
6 Am Tobacco pf new 101 H
.. Am Waterworks .. 13 ft
7 Am Woolen 92 ft
.. Am Writ Paper of.. 35
.. Am Zinc Ld ft Smlt 19 ft
.. Am Zinc Ld ft S pf 43 ft
. . Anaconda Copper. . 53 ft
.. Assets Rclaizatlen.. 1M
4 Asse Dry Goods.... 57
7 Aase D Goods 2d pf 84
6 Asse Oil 139ft
6 Atch Tep & San i-'elOl
7 Atlantic. Coast LlnelOl
.. Atlan Blr ft Atlantic 34
Atlantic rrult .. 4ft
.. Atl Quit ft W I S S 30 H
.. At G & W I S S pf 27ft
7 Atl Refining pf.... 113ft
.. Atlas Tack. Cerp... 11
Austin Nlchel 25 H
.. Aute Sales Cerp.... 4ft.
.. Aute Sales Cerp pf. 13
7 Baldwin LocemotlvettSH
.. Baltimore & Ohie.. 47
. . Barnsdale Class A 54
.. Barnsdale Class B.. 30ft
5 Bethlehem Steel.... 74
6 Reth Steel B 78H
7 Beth Steel 7 pf.MOO
. . Beeth Fisheries. ... 7ft
7 Brit Em Stl 1st ur. 75ft
8 Brooklyn Edisen... 107
.. Brooklyn Edisen rts 2ft
.. Bid y n Rapid Transit 22
.. Brklyn Union Oau. ..100
C Buff Rech ft Pitts.. 59
8 nurns Bres A 137M
2 Hums Bres B 43 ft
7 Bums Bres pf 98
. . Butte Copper & Zinc 7 ft
.. Butte & Sup Cep... 3 Hi
.. Cadde Cen O ft R. . 13ft
6 California Pncklng. 79 ft
.. California Petrel... 58ft
.. Callahan Zinc ft Ld 7H
2 Calumet & Arizona. 60
10 Canadian Pacific... 142
.. Canen Hill Mining. 15ft
. . Cerre-dc-Pasco .... 37 4
.. Central Leather.... 38H
. . Central Leather pf . . 72
. . Certain-teed Pred . . 49
6 Chandler Meters... 70 Ji
4 Chesapeake ft Ohie. 65ft
.. Chicago ft Alten... 8i
.. Chicago ft Alten pf 17 H
. . Chi & E 111 (new). 37ft
. . Chi & E 111 fnew) of 57
,. Chicago & Ur West. 9H
.. Chic ft Gt West pf... 22 H
.. Chi Mil ft St P 27 ft
.. Chi Mil & St V Pf.. 43 n
5 Oil & Northwestern 75
4 Chicago Pneu Teel. 67 H
.. Chi R 1 ft Pac 45 i
6 Chi R I ft Pac 6r Pf 81 ft
.. Chi St P M & O.. 65
.. Chile Copper 20
.. Chlne Copper 29 ft
4 Coca-Cela E6ft
.. Cluett-Peabedv .... 57ft
.. Cole Tuel & Iren.. 31ft
6 Celum Gas & Elec . 88
. . rrelum Graoheohono 5
200
200
100
100
200
500
300
600
200
100
100
100
200
.200
100
1400
10500
100
400
100
300
100
1400
200
100
2100
tee
100
100
2300
200
100
100
3100
300
100
200
200
6200
2400
100
100
100
100
100
400
400
400
100
100
200
200
2400
100
200
100
200
100
20
7800
6400
100
1400
400
200
400
6800
900
100
100
300
200
100
200
200
800
200
400
400
6400
200
100
300
300
2400
500
600
2200
200
400
6100
200
800
300
400
3600
100
100
3400
100
400
400
200
Cel Graphophenu pf 18ft
Cemput Tab Ree. .. 79
Consel Cigar pf.... 62
Consel Textiles .... 13?i
Continental Can.... 68ft
Cem Products uer.iuj
8800 iV, Cesdcn & Ce...
43 ;
Crucible Steel 66J
7 Crucible Steel pf . . 92
. Cuban Am Sugar. . . 22
. Cuba Cane Sugar. 16ft
. Cuba Cane Sugar pf 337,
Davisen Chemical.. 61 ?
7002.30 Debeers C Mln Ltd 21ft
IOC 9 Ivlaware &. Hudsen 121
C Del Lack & West.. 115 14
8 Detroit Ellisen 107ft
12 Elcc Steiage Bat... 170ft
.. Emer.sen-lirantliiB . 7ft
G Kndlcott-ehnson .. 84 ft
.. Eiie' :.. 13ft
. Erie 1st pf 22 H
.. Erie 2il pf 15U
8 Famous Playets L. 81ft
4 Ted Mln ft Smelt pf 45
10 Fisher Bedy 122
8 Fisher Bedy of O pf 97
.. Flsk Rubber ...... 19!i
. . Frcepert Texas 1 9 H
.. Gasten Wms ft Wig ?
6 Gin Am Tank Car. . 60
., Gtneral Asphalt. ... 63'i
6 Gintral Asphalt pf. 97',
5 General Eltctrle. ... 163ft
.. General Meters.... 13ft
6 Gen Meters deb O'e 80ft
. Goedrich B F 42',
7 Goedilch II F pf. .. 90
. Granny Cen M & M 26 ft
. Gray r.ils 'Jj',
7 Great Northern pf.. 75
4 Gnat North Ore ctfs 39' j
.. Greene Cananea Cep 31 ft
.. Ouantaname Sugar, lift
.. Gulf Mobile ft Ner. 17 ft
.. Gulf Meb & Ner pf 30 ft
.. Gulf State Steel... . 67
.. Hablrshnw El fable 2
.. Hendee Mfg Ce ... 22 ft
3 Homestake Mining. 73
. Housten Oil 81
1 Hupp Motorcar. ... 19 ft
. Hydraulic Steel.... 73
7 Illinois Central 106
. Jndlahema Ref 4,
60 Indian Refining. ... 7
2 Intcrb Cen Cerp... 2Jj
. , Interb Cen Cerp pf 7
. . Interim Agrteu! .... 1 1 '
. Int Agrlcul Cerp pf 42
100 2 u Int Cement .te
200 2 Inter Combust Ens 2b
6 int Harvester new i . at
Int Mer Marine.... 26h
6 Int Mer Marine of.. 87 U
. international Nickel 18H
6 Inter Paper pf stpd 68 ft
. Invincible Oil Cerp. 17?
iron Products J:
1600
200
300
1300
100
400
200
100
100
200
200
100
800
200
400
200
300
100
100
75300
600
100
100
100
500
69C0
90 1
400
100
2900
900
200
12 JO
300
100
100
100
1600
500
300
100
8400
300
100
100
100
300
1800
7000
400
1000
200
400
1200
300
200
300
200
400
200
100
eoe
200
100
Island Oil.
Jewel Tea 22 ft
Jewel Tea pf 72
Jones Bres Tea 42 ft
Kansas ft Gulf.... 5ft
Kan City Southern. 28ft
Lew
48 ft
53 ft
17
67
80 ft
40
68
46 ft
61ft
105
49
162
13 ft
24 ft
6
15H
107
80 ft
45 ft
12
33
117
116ft
97
7ft
18H
56 ft
92 ft
39 ft
75
101
34 H
60 ft
122ft
141
136U
101 H
13 ft
92
35
19ft
43 ft
52 ft
1H
57
84
128
100ft
101
3H
4ft
7 ft
27
115ft
19
25 H
4ft
13
118
47
53 H
36 ft
74
784
99
6ft
75 ft
107
2ft
22
100
59
134
41
98
7
30 a
13 i
79 ft
b7
7ft
60
142
15ft
37
38H
72
48ft
76
65
8i
17ft
36ft
57
9H
22 H
27ft
43
75
67 ft
45
81
65
19ft
29 ft
6
57 ft
31
87
5
18ft
78
62
13 ft
68 ft
103
43
C6
91 ft
22
15ft
33 ft
61ft
21 ft
121
115
107ft
170ft
7ft
84
13ft
22 ft
15ft
81
45
121ft
97
19ft
18ft
ft
60
63 ft
97 ft
163
13
79 U
41 ft
90
25 ft
17?
75
39ft
31 3
lift
17 "
38ft
86 ft
2 5,
22 ft
73
78
19ft
1054
4ft
6?
2 '4
6K
10ft
39 ft
36
2S
96M
26ft
87 ft
18ft
eaft
'7
32..
22 ft
72
42'i
5ft
28ft
1:30 Net
P. M. Crura.
48 ft,- ft
33ft- 2
17ft H
67
SOft- ft
41H 1ft
68 - ft
48H4- 2H
61ft K
105 1
49 - ft
162 ft
14 ft
25 ft
6
15H- ft
107 - 1
80ft ..
46 ft -f ft
12
33 - H
117 H
116ft 4- ft
97 -h 1
7ft -5- ft
18J ft
58ft ..
92ft
39ft- ft
76 -i- ft
101
35 a
60ft H
122 ft 4- ft
141 ft
137ft- ft
101 ft ..
13ft- ft
92 ft -f. ft
35
19ft ft
43ft -f 1ft
52ft- H
1 ft
57 - ft
84 -J- ft
133 -j- 7
101
101 - 1ft
3ft -
4ft ft
37ft-
27ft ft
115ft -
19 ft ft
25 ft ..
4ft H
13
1184- ft
47 - ft
54
36ft -5- H
74 - ',
78 ?i- ft
100 j
7 -5- 1
75ft ..
107
2ft- ft
22
100 - ft
59
1344 H
43HT 3ft
98
7ft ..
304- ft
13ft- ft
79ft 1ft
58 -1- 1
7ft .-
60 J- ft
142 -:- ft
15ft ft
37 ..
38ft ?i
72 - ft
48ft- Ift
1 76 - ft
65 ft -j- ft
84 .,
17ft- ft
36ft- ft
57 - ft
9ft- ft
22H -.
27!', -J- ft
43 - 1 ft
75
674 -r ft
45 - ft
81 - 1
65 -J- 3
19H- H
29 ft ft
56ft ft
57 ft - ft
31
87ft-f-
5 b ft
18ft- ft
79 -i 1
62 -r 1
13i-f- ft
6Bft ft
103 - H
434 -r 94
66ft I
91 ft - ft
22 ft
16ft-i- H
33ft- ft
614 1- ft
21ft-f- H
121 ft
115ft- ft
107ft- ft
170ft- ft
7ft 4- ft
84
13ft ..
22- ft
15ft- ft
81ft- ft
45
121ft ..
97
19ft- ft
19ft 4- 1H
Ji- ft
60 - 1
63 ft
97ft- 2ft
163 - 1
13 - ft
80 ft-! ft
42J.T ft
90
2694 4- 1ft
18 4- H
75 4- H
39 ft ..
31 94 - ft
1 1 ft - H
17ft- ft
38ft- ft
66 9i 4- ft
2 .
22ft- ft
73
80 f- 2
19!i I- 3,
74 ..
1064- 4
4H-:- ft
7 i- U
2 94- ft
64- ft
11 ft 4 ft
41 - 1ft
je - ft
26 - ft
964 r 1
26ft 4- 9,
87 ft 4 ft
18ft .
68 ft 4 ft
174
32
DIV.
Bales In STOCK mh
100 4 Kan CHy Se pf.... 58ft
3600 . . Kayser J new 3894
300 .. Kayser 1st pf new... 99ft
400 .. Kelly-SpgTIre.... 52
200 Kelsey Whl 101 M
.400 ., Kcnnecett Copper.. 34ft
1000 .. Keystone T ft Rl.. 23ft
600 ., Lackawanna Steel.. bOft
200 .. Lake Erie ft West.. 17ft
100 .. Lake Erie ft W pf.. 35ft
600 3 Lee Rubber Tire.... 34ft
300 3 ft Lehigh Valley 62 94
300 12 Liggett A Myers 169ft
300 7 Lima Locemothe. ..112K
200 .. LoeweCe 17J4
200 13 Lerlllard Tobacco.. 150
800 1 Left Candy 13 J,
3500 .. Mack Truck 48
100 7 Mack Truck 1st pf. 86 94
300 7 Mack Truck 2d pf. 79
300 6 Mackay Ces 91ft
200 l Mackay Ces pf 65
100 ,7G Melntyre new 1894
5300 7 Manhat Elev Guar. 35
400 4 Manhat Elee Supply 61
300 2 Manhat Shirt 40ft
200 ,. MarlandOII 3094
200 .. Martin Rockwell... 23
400 2 Martin Parry 31ft
200 .. Max Moter Class A 68 ft
100 ., Max Moter Class B 19ft
J 1 00 8 May Dept Stores ... 1 22 ft
1400 12 Mexican Petroleum 1 33 ft
100 7 Mrs Ptrnliim nf flSTl
200 2 Miami Cenner 2914
12001.20 Middle States Cerp. 13ft
.. Aiiavaie steel 3Bft
.. Minn ft St Leuis.... 134
Me Kansas A Texas 1 1 ft
.. Me Kan ft Tex (wi) 1794
.. Me Kan&Tpf(wl).. 41ft
.. M K ft Tex 1st aw 21 ft
.. Missouri Pacific... 24
.. Me Pacific pf 57 ft
8 Mentana Power 73 ft
.. Montgomery Ward.. 22ft
8 MulllnsBedy .. , 31 ft
.. National Acme.... 204
7 Nat Biscuit 150
.. Nat En ft Stamp.. 41
National Lead 94 94
7 National Lead pf. ,110ft
. . Nev con Copper. ... 1 7 94
6 New Yerk Central.. 89 Ji
6 New Yerk C & St L 69
6 N Y Chi ft St L 2 pf 73
. . New Yerk N H ft H 27 ft
2 New Yerk Ont ft W 27 ft
7 Norfolk ft Wcsternl07ft
3 North Amer ctfs... 59ft
.1 N American pf ctfs. 4294
6 Northern Pacific... 769
2 Nunally Ce 1 194
. . Ohie Bedy ft Blewer 12
. . Okla Pred ft Ref. . . 3ft
.. Orphcum Circuit... 21
2 Owens Bett Macli.. 35ft
. . Pacific Dexel Cerp. . lift
C Pacific Gas & Elec. . 71 94
8 Pacific Oil 64ft
6 Pan-Amer Petrel .. 6594
6 Pan-Amer B 58 ft
. . Parish & Bingham. 134
2 Pennsylvania R R. . 41 ft
. . Penn Scab Steel ... . lift
6 Peeples Gas Chicago 87
. . Pere Marquette.... 30ft
C Pere Marquette pf. 67 ft
3 Philadelphia Ce.... 38ft
5 Phillips Pet 44 ft
.. Pierce Oil 10ft
8 Pierce Oil p 58 ft
6 Pitts Ceal 64 ft
. . Pitts ft West Va. . 33!4
100 1, Pend Creek Ceal... 2114
1700 6 Pestum Cereal 75
8 Pestum Cereal pf . . 1054
7 Pressed Steel Car pf 98
. . Producers Refiners. 38
8 Pullman 1244
. . PuntaAlegre Sugar. 404
2 Pure Oil 34
8 Pure Oil pf 101ft
4 Railway Sec 67
. . Ray Cen Copper. .. . 164
4 Reading 7794
. . Remington Typewrit 35 94
. . Replegle Steel 31 ft
. . Replogle Steel rts. . . H
. . Repub Iren A Steel. 6694
Rep Iren & Steel pf 91 ft
100
200
100
1000
200
400
800
400
100
200
100
900
200
100
800
500
400
900
100
100
100
100
1100
400
300
500
400
600
100
4100
100'
900
100
45100
5000
300
100
2500
3400
100
500
100
100
3200
2900
100
100
200
100
100
13300
100
800
3100
100
10
300
1030
200
100
2900
2200
100
300
200
Republic Meters.
Reynolds Teb B.
61005.20 Royal Dutch N Y.
8ft
4594
64 ft
199
15
094
200 .. Rela ft Ce.
200 1 st Jeseph Lead..
200 . . St Leuis San Fran
200 .. St L San Fran pf 52
100 .. St L Southwest pf. 48ft
100 .. Saxen Moter 3 94
400 .. Seaboard Air Line.. 7ft
300 .. Sears-Roebuck .... 75ft
300 .. Seneca Copper 13 9
400 3 ft Shell Transoert 47 94
500 .. Sinclair Consel 31 4
. . Sloss-Sheffield 4594
6 Southern Pacific.... 89ft
. . Southern Rail 25
. . Splcer MfgCe 18ft
4 Standard Oil of Call 14ft
C Standard Oil of N J 18894
7 Stand Oil of N J pf 115ft
2 Stewart Warner Spd 399
, . Stromberg Carb.... 56 ft
7 Studebaker 123 94
. . Sub Beat Cerp 5ft
. . Superior OH Cerp.. Cft
. . Sweets Ce of Amer 3 9
. . Temt Cern & F "A" 2 94
. . Tenn Cep & Chem. .11ft
3 Texas Ce 47 ft
.. Tex Gulf & Ship.. 44
Texac & Pacific... 3394
22 ft
72 -r
42 ft
5ft .
28 ft .
ft
200
200
3600
800
300
300
200
100
930
8400
100
100
100
100
500
200
100
300
900
100
500
100
100
300
100
700
100
tee
200
200
203
400
300
303
1600
500
900
400
50
130
400
300
100
4100
200
203
1003
200
20O
700
600
" 50
300
1600
200
100
tee
200
300
300
100
200
1300
800
100
100
200
100
100
1 Texas A Pac C ft
, . Third Ave 23
. . Tidewater Ofl 136
C Tobacco Products.. 68 Ji
. . T S L ft W pf cfs B . . 45 ft
. . Transcen Oil 11ft
2 Twin City R T 49
. . Union Oil 22 94
4 Union Pacific pf . . . . 74 ft
7 Union T.uik far. , . . 102
7 Union Tank far pfl06ft
.. United Alley Steel.. 34ft
. United Drug 71 9
5 United Fruit 143ft
. . United Paper Beard 18 94
, . United Rwv Invest. 15ft
6 United Retail Stores 52 ft
, I'SCIPfc Fdy. . 35
0 U S C I P & Fdy pf 69 ft
..US Feed Products 594
. . de Odd U)ts 5 9,
. . V S lnd Alcohol... EOft
..US Realty & Imp 66 ft
..US Rubber 664
..US Smelt & Ref.. 41
5 U S Steel 98 ft
7 U S Steel pf 119
2 Utah Copper 66 ft
. . Utah Seu
7 an Raaite 1st pf.. 93
, . Vanadium Cot-p.... 42ft
. Va-Car Chemical... 34ft
6 Vc Iren Ceal A Coke 55
. VH'4 Cpf odd lets. 72
. VIadeu Inc 124
. . Wabash 1 1 4
. Wabash pf A 31 94
. Western Maryland, lift
. . W Merjland 2d pf. 20J4
. Western Pacific... 22
4 Westing 15 & M 62
,. Wheeling & L E... lift
4 White Moter 49
.. White Oil Cerp.... 10ft
. . White Oil rts ,. . ft
. , Wick Spene St Cerp. 17ft
. Wll!s' Overland nf. 38ft
. Wilsen &. Ce 464
8 Woelwortli Ce 160
4 Worth'ten Pumps... 52 ft
".-, Wrlelit Aero 9
Lew
SB ft
37
09
51ft
101 Ji
34
23 ft
SB
35ft
34 94
62 ft
169ft
112ft
17ft
130
1394
47
8694
7894
91ft
65
1894
.54 ft
60
40 ft
3094
23
3! ft
68 ft
19ft
121ft
133
88 ft
29 ft
14ft
38 ft
1394
11ft
1794
41ft
21ft
23 ft
57
73 ft
22 ft
31 ft
204
150
41
93 94
110
1794
89 ft
69
75
27 ft
27 ft
105ft
59 94
42 ft
76 ft
114
12 ft
3ft
19'i
35 ft
1 1 ft
719
62 ft
64 ft
58
1394
41 94
11
87
30
67 ft
38ft
43 ft
10
58 ft
64 ft
33 ft
21ft
74 ft
1054
98
37 ft
12494
40 ft
33 ft
101ft
67
1694
77
3594
31ft
94
65
91ft
8ft
45 94
63 94
1994
1474
30 94
5194
46 ft
34
7ft
75 ft
1394
47 ft
3194
45 94
89 ft
244
iev
114ft
187
115ft
394
55 94
12294
5ft
6ft
3 94
294
lift
47 ft
44
33 ft
1:80 Net
P. M. Chse.
58ft ft
37 - 1
99ft 4- 1
32 4- 94
101ft- 1ft
23 H 4-" J4
60ft 4- 94
17ft ..
35ft 4- 94
34ft ..
6294- ft
169ft- 94
112ft- ft
17ft ..
150 ..
13J4 4- 94
47ft 4- 1
8694
7894 4- Yi
91 ft - ft
65 4- ft
1894 4- ft
5494- W
61 - ft
40 ft 4- 94
3094 4- ft
23 4- ft
31ft- ft
CO ft ..
19ft
122J4 4- n
13394 ,
88- ft
29ft 4- ft
13ft ..
38ft ..
1394
lift ..
1794- 94
41ft- ft
21 ft - ft
2394- ft
'57 ft ..
73 ti ..
22ft- ft
31 ft 4- ft
2094 4
150 -
41 -
9494 4
110 -
1794
89ft 4-
69
75 4-
27 ft-
27 ft
107 -
59 ft
42ft- ft
76 ft 4- ft
1194
12 4-
3ft
204 4"
35 ft
11ft 7194 4
6494 f
94
11 -87
30 ft
4
43 ft
10 4
58ft 64 ft
33 ft-21ft
75
ft
5
94
94
1ft
"ft
1ft
ft
ft
ft
ft
ft
' i ft
ft
'ift
?ft
'94
94
94
94
v.
94
1054
98 4
38 ft 4-
12494 .
4094 4
340 101ft
67 4
1694 4
77ft .
35 94 4
31ft .
ft .
65 -91ft-
8ft4
45 94 4
64 ft 4
1994 4
15 4-3094-52
4
48ft 4-
394 .
7ft-
75ft-
134 4-
47 94-r
3194-
454 .
89 ft .
24ft-
18ft 4-
114ft 4
18814-
115ft-
3994 .
56 ft !-
1234 4-
5ft 4-
6ft .
34 4-
2ft .
ft .
44
33 94
ft
ft
1ft
'94
ft
94
2
ft
.94
94
ft
ft
1ft
ft
O 30 ft 30 30ft - 14
23 94
135ft
68 ft
45 ft
11ft
49
224
74 ft
102
106
34 94
71ft
143ft
18ft
15
52 ft
34 9
68 ft
5U
594
EOft
65 ft
66ft
41
97 94
119
66 ft
2394M-
136 4
68 ft f
45 ft-11ft-49
224
74 ft-
102 !
106 -344-7194-
143ft ,
1894 4-
15ft
52 ft
35 69 ft -J-5ft
,
594
50ft -J
66 ft i
66 ft 4.
41 -98
ft j-
119 -
66ft
ft
94
ft
194
ft
19s
.'a
ft
ft
1ft
ft
1ft
ft
ft
.
94
18ft 18ft 18ft 4 t:
IT Q li"Q9li .7
ViYi
42 ft
34 ft
54
72
12'i
11 ft
31ft
lift
204
22
61 ft
117a
49
10ft
ft
16ft
38 ii
4694
160
52 ft
'J
Ux-dMdend.
92 ft-"
42 ft-
34 ft (-
55 f-
72
12 ft-
11ft-
31 ft -
11'-
2094-1
22 -
6194
Dft 1
49
10ft 4
ft .
17ft I
38ft .
46 94 4
160
52 ft-9
SMi CM
41,
1M' Mai
ten a3-i2 3 2j
100 1.1s :i :n
ion 11.111 H ,17
100 2i-3j :i :i-
let-. 4 07
DIVIDENDS DECLARED
ilirtman Corporation quarterly f I 73 pay
aVitu June I te "took of recurd May 18,
Htnnriard Oil of California, quarterly SI,
pieabli! June. IS te mock of record May 20.
liennnil Development Cgmiianj, SSe a
uun. . i nti'.. fiiv ''(I tr, i.te-Ii . rf-rfiril
,irt ,11. D PMJMW w ' .---- - .- .-
J Y , May 10.
1 ! rriUlA Jll.. .111, ,. .w,t,n,j -ilitl
1 1
tVi Sept.. ItllM . im 10,l, 4 us
rt'S March, 1025 Kit R-M llil 7.1H 4 21
IT4 March. 10.'M. Kit 13-lrt till ir,-lfl 4 20
.11 11'fiiiBrif frnrti UnHit rtl nnrrnnl lnnm .
mmmI tAccej.t.ib'e for pigment of tV.ceine ux
jdue en tUte of muteurlty.
Pcirce 1
nnrm
Foreign Exchange Brokers Fail
Nw Yerk. May 3,T-An'lmeluntary poll pell poll
tlen 'n bankruptcy wi (lied In the lVdemi
Court thin murnlmr axalmt Ration GlUuinnn
A Ce ; ferelun exchange broken, cf 2d Jlread
annual 3 )- sent, im)abie June 1, a regla
ler'iU -May 15.
Municipal Cenlee Cempiuiy quarterly l'j
P'r tent en preferred payable M1!! 1 te
at'pck vt rn-urn April 27, At Hie nm tlmi
. pur cent en preferred, entltlid te addi
tional dhldenJj at rate of -Va wr (.ent per
annum,
Hemeiilakn Mlnlr.ir Company, months 2V-,
laab!i Mat' 2f te rteclc of rc-cenl M.i .hi,
l-iinmnn MoneDpe Machine IJemnani. quar
trl I'-t pe- cent, pajable May 31 te uteck
of luurd May 2L',
Prices Firm en Paris Bourse
Paris, May 3 I'rlcea were Arm en the
Hours today. Three per cent rantaa, S7f Se,
Raw Sugar Active and Steady
rkrflnlul FA.ll.n ...... -. .l . . . .
V. 1l-lf. Mav 3. The raw uur r. ...7 ,'"'..", ' :"""'' '' 1(0
set centinu-a aethe and steady, wlTl.Cubaal Z.. . , u 10".w":.
Reserve Banks' Discount Ratea
ler May rlilpment quoted at
una i renin
coat
n
and for June Hhlnment at
(pntH. reHt r-.nd fielaht. nalea iFnteriluv
cunrlatcd wf ."O.uOO baua Cuban fur ahlpment
ncenu nnu 01 .iay hi i-iu cenie, Jii.uuu
tuat for iremp'. ahlpment nt 2 1,1. SJ tenn.
jki i,nd fn-Uht und 30.000 tans Kuend
half r,f Miv ahlpment ut 2H innta, mat and
freight, 'l'hu latter uineunt ciirrUa uutpert
nptlnn (Jperateri, Here the jele buera.
unporiaiiena ;eaiereay inciuu-u -e i.vuu baga
inpei
hllli
1 tiillppliifa id the National Husjar llcfliiliiu
C'tnrunyi ln.OOO baga of Cuba ie th Wai
mr Hugar Ittllnlnir fenipany, mid Uueii base
if fubaa r an Importer. Thi- local n
tliie.l naiUt la unchanged with prliea rung
inj; fro ii 5 25 te 5.40 mnta. lean i per cunt
for lath
MONEY-LENDING RATES
SKW 10KK Meney en call, With ilaaaea
of cellaurul, opened today at 4' pdr cunt
for lending und ronewlng,
I flKLADKLFHIA Call. .1 Mr eeatt time.
IS pr. cent: commercial paper, three te sis (low s
oieoius, ( 9 se r ccjt, s ua i
Renten , ,
New Verk
rh'ladelphla . .
i-neianii .
niilimend . ,
Atlanta
fhlcagu , .
St Uiula
MlnniiiimllH .,
Knnaaa City ,
Uallaa
ban rianclitce,
Trens,
cirs
' ft
r
S j
. 4'J
l'j
Mb.
benda.
4li
!'
I 'a
4'-.
Cem'd Illira.
paper, accept,
44
41
I'a
41
4',
m
Mi
1'4
an In-
CONTINUED FLAT
Liverpool Cotten
I.hrrpoel, Mn 3, There ua.
nean.il demand for aret cotton tuilai- ulth
prliea llrnier en the baala of hii Kilwiiir,
of 4(1 peliita for rnMdllnir at lu.ttltl I Th
aalea Here bOOO bale", 'the recclpta wr,.
2S.U0O balca. Including 25,(100 bales Ainir.
lean, futures were steady tn the early
dtallnga. Spot prless werai American miK
ditnc fair, laseai jroea rniddiing. ii.iiid,
yuiiy mieaiis. .ii.jsse; . middi n. lKiiS
w, Bjemary, l,5d
American Gat Made a New Tep
Price en Very Small ,
Dealinga
Unfortunately, the local contingent
had no oil stocks te ploy with, and,
consequently, the trading In the local
market remained flat and featureless.
Because of the growing narrowness of
the market and shrinkage In dealings
price changes In some Instances were
unusually wide, but In the recent prom prem
lncnt leaders there was evidently the
same disposition te mark time. The
backwardness of the market Indicated
te some extent unpopularity of the
leadership of the bullish demonstra
tions en the big beard.
Apart from less than half dozen Is
sues the dealings were very small.
American Gas furnished the old move
ment of Interest ndvanclng te a new
high for the current year at 0, or 3
points above the previous sale, which,
however, was made en odd-let transac
tions. On the ether hand, there was a
slight shading of Pennsylvania, P. R.
T., Philadelphia Electric and American
Stores. U. O. I. wns firmer, however,
moving back. te 45. Brill lest VA
points of yesterday's rise, and Lehigh
Navigation dropped back a point te
Philadelphia Stocks
1:15 Net
High Inr V. M. cage.
280 Am Sirs .lia-Ja lL't US fJ.k
;u Am Ons
lOOfAm Sugar "i
20 Urill J
Knif'nUt Pitt
lOfCcn Leath 38 38 38-f-
SCOfCel Graph C 5 0
:e uicc Ster
. . 71) it' " fe'a
m 75A 70l
.. 4iii 4a Va lii'i ii
r.su. nu, nsA4-iiA
new .... 4.1 Vj 43 Vi 48Va
10 Gen Asph. 033i 03 0341 Ji
13Lch Nev.. 75 741j 741
100 L Vnl Tr. 1) l -rla
SOtMarlln Rk lSli 23U 23U4-' Cs
SOtMlnml ... 20
lOtPan-A Pet 05
C85Penna RU41i
CO Phila Ce
cum pf.. 38
328 Phila Elcc 2.Si
20
5
41i
38
e-
29
C0
414
38 ..
28Vi
470 de prcf. . 20 20 20 4
250 Phila R T 32 32i 32
I'u rnna Trac 7 tn 7 .
10tStudebkrl23iA 123 123
10 UnlonTrec 41 41 41
420 U G I.... 45 44 44
00 de prcf.. 53 53 C3..
10 Yerk R pf 37 37 37 . .
tNVt chancn made bv comnartaen with last
sale en New Teri: Stock Exchange.
1000
. 100
1000
200
1000
coeo
000
02000
750
2000
1000
200
1500
3000
0000
500
.lets
PHIUWELPIIIA BONDS
Liberty ls't 3s 47....
Llbeity lst,4fts '47.
Liberty 2d 44s 42.
Liberty 2d 4,is 42.
Liberty 5,'d 4fts '4Z
Liberty 3d 4is 28
Liberty 3d 4Vs '28
Liberty 4th 4s '38. lets
Liberty 4th 0V4s '38
Liberty 4th 44s '38
Amer Gas & E'cc 5s. lets
Amer Gas & Klec 5s....
Philu Electric 1st 5s.. lets
Phila Electric 1st Os..lets
Phila Electric 0s lets
Phila Electric tis
00.14
1)0.50
00.50
00. CO
00.40
00.80
00. OS
00.80
00.00
00.70
83
'83
no
oe4
103
101
FOREIGN EXCHANGE
New Yerk, May 3. There was evi
dence of support In bterllng at the
opening of the foreign exchange mar
ket this morning, while most of the
ether classes were weak. Marks wcre
down Vi nt .32, the lowest figure in
the last week or two, comparing with
.44, the high en the recent movement.
Sterling showed a gain of , reuchln;
a new" high en this immediate move
ment, while, compared with yesterday's
final, francs were down 3. Belgians
4, lire, pesetas, Danish and Norwegian
down 2 and guilders down 1. Swiss
showed a gain of 1 point and Swedish
were up 5. The euly Influence dis
cernible wits that emanating from
Genea.
Toward the end of the first hour, the
market was easier all around. Sterling
shaded c te 4.43 for cables iind
4.42 for demand. Franc cables were
near the early low at O.ll1 for cables
mid 0.10' for checks. Lire were quoted
at 5.30 for cables and 5,20 Vi for checks.
Marks shaded further te 32li.
The premium en New Yerk funds in
Montreal today was 1 21-32 per cent.
The discount en Canadian fundi, in New
Yerk was 1 per cent.
The Central European exchanges
were easier today ns follews: Bulgar
ian, .OS; Rumanian. .70; Serbian,
1.44 bid; Czetho-Slevnklan, 1.01;
Juge-Slavian. .30, bid; Greek, 4.50;
Finnish. 2.07; Austrian. .0120;
Hungarian, .12 ; Polish, .0202.
TPSTEHDAT'S CLOSING QUOTATIONS
felerllne Francs I.lrr- Guilders
Demand . . 4 42' 0.18 r,.3'l :is..ta
C'ablta 4 434 0 IS', C.39i 33 35
UODA1 S OICNING QUOTA i'lONS
sterling; Kranrs Lire Gulldera
Demand . . 4.41', 0.11ft r.2(H,i 3S.S1
Cublea . . 4 43', tl 12ft 5 30 88.36
LIVESTOCK QUOTATIONS
Chicago, May 3 - CATTI.i; Receipts.
lS.diiil head, Uef ateera, alew: ateady te
weik. early top, Sl: weight, 1514 peuraK
Hulk beef ateera. $7508.0,1; ellwr ciafaea
general lead : butcher ah atec'n, mnatly
I5.75rl7.25: bologna bulls lergelv S4 K5&
5,15- bulk ealera carl), I7.50B8 25.
IKJGS Ilecelpta, 17,000 head. Uneven,
fairly n'.the; light about ateady with Turn
da) a average, or atreng te 5c higher than
the closes meil'uni and heavy butihera about
llke TUfdas's deie, or 5 te 10a louer than
tli iieracv 'lop, H0 51I, bull., lO.RS'tf
10 45, packing ncm neuk te 10c luei, plga,
atead' bulk, tb 7.1 B 10 4IH
1II"UJ Ilecelpta, SOuO head. Steady te
2.V- higher: beat ahern lambu, hid tl4.9u,
Colerado foil, wegW lulnbs, iXO.iOti 1(1.30:
two loeda uneld. hand) fed Texaa shorn
wethers 110.10. light fed Texas full ahern
, 10,75; native spring lambu. 110,25
down.
I'lttabnrgli, M'av .1 HOG- rtecclpti noe
head, Stead), Heavlea, 10.!i0(all- ht.ny
)nrkers, light serl.eri and plga. 111,23V
11.13
SllLXl' AND IAMBS Receipts ,100
head. Steady, lop aheep, $10; ten lamba,
Sir. 50.
CAt.VKS UecelptJ, 100 head. Higher.
Tep, 110.
Ii-at nufTale N. V.. May 3. CATTLE
Reielpta, 00 head Slcadv. Calves, re
ci'lntu 175 head, Steady, 34l 11.
HOGS ItecelDta J2KO head. Steady te 25g
lower Heavy, -te. V it: mixed 1I ( ji -jr.:
verl(ra. light de and pi 11.50ic 11.05:
reuirha. J0lti21- atnga, S'.flin.
SltLKI' AND JAMHt Hieelpta ISOn
head. Ijmba, r Ien , wethers, I0.5U4J 10.00:
elhera unchanged
BANK CLEARINGS
Hank clearing teda), compared with cor cer cor
reependliy div laat two seiiri:
''-'- 1H21 lllil
Phila . 7U,000 000 Ka.Ul.2SI JSJ.ilOJ.120
BAR SILVER
v,",1'; liM.rnliu'r ' unchanged i New
.'.n1. ii 1? ,c J0,r! "'"ounce; foreign,
G8'c. mi iiihance of ic In Londen, tha
prlce was unchanged at 33d, -v"uu" w
Baldwin's Repays $5,000,000 Lean
ltppaj incut of an luhnnce nf 5.011(1..
mM elitulnril in .lnnuary. 1020, by the
Baldwin Locomotive Works nmi of en
adunce of Sl.lMHl.OOO made te the In
ternnt iiiuil Harvester Cnmpanv. Ch.
eage, n 11)20. was announced luduv by
iii i i '"' '' ilm,u e . (''rponttien. "The
Baldwin company, the corporation bald.
r.tarTmtrriina
yirSlWHnS!BMra
)ArYiVMMY;Z WxWmwy!WKWVmmW v.' J- W
... -- y ---s --;--r; - i'.'.,,,, . ... .-. ' .
I nPAl TDniMP i
LUUnL iiinuiiiU ....-. ,.j$j
KsW mmm mmwmwmmw hb . . ,jm
mmmmmmU U , WBi 9
$37,0
CHICAGO. MILWAUKEE A ST. PAUL RY.
Ci EQUIPMENT TRUST CERTIFICATES
193S
PRICE TO NET 5.65
$31,101
WAIASH RAILROAD
il EQUIPMENT TRUST CERTIFICATES
1931-1935
PRICES, TO NET 8.65
$100,000
ATLANTIC COAST LINE SYSTEM
CHARLESTON A WESTERN CAROLINA R. R.
6 EQUIPMENT TRUST CERTIFICATES
1927-1933,
v. ' PRICES, TO NET 5.70
$19,000
ERIE RAILROAD
6 EQUIPMENT TRUST CERTIFICATES
1933-1935
PRICES, TO NET 5.70
All of the above Equipments are out
standing at the rate of only 58 of the
original cost of the equipment.
REILLY, BROCK & CO.
306 CHESTNUT STREET
PHILADELPHIA
"SECURED BY A FIRST MORT
GAGE ON ALL THE PROP
ERTY OF THE COMPANY"
In the years te come the assurance that no lien
exists or may be created superior te the mortgage
securing your bends will be a consideration of
ever-increasing value.
W offer
FIRST MORTGAGE BONDS
of two well managed and successful
Electric Light and Power Companies
TO YIELD 6.60
Descriptive Circular en Request
BiRSI-YBROS. & Ce,
BAJNTtERS
JA2t CHESTNUT 6TRSET
PHILADELPHIA
Members Philadelphia Stock Exchange
W offer itibject te prier tale
$250,000
St. Leuis-San Francisce Railway Ce.
Prier Lien Series "C" 6 Bends
Due July 1, 1928
Te Net 6
These bends are reported secured by first mortgage
en nearly half of the system.
Full particular upon request
HARRISON & CO
BANKERS 106 SOUTH FOURTH STREET
PHILADELPHIA
Member New Yerk & Philadelphia Stock Exchange
Judgment
of Recerd
wn Sv.iBU?r' "I'1,10 a,Ul 3t 0ther timCS in 19-
we advertised in the Ledger as follews:
"Bargain Days in Bends
Yeu may purchase with confidence, Railroad
offerings" CSt in fifty years' Let us submit
Prices have since advanced mm 13 te SO points. They
prier teW1914. aterIelly below the level prevailing
Invest before further advances.
Ut en Application
Edward V. Kane & Ce.
Merris Building
Kstabllshcd 18 years
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