yf
l-Vj . i lUauL . L . . "M
T-t"! f vy ff ' t. wjm.. fy'W ,M?t. y'ntl
I.
yp
Eventually wtfw issues of
Municipal Bends
. MAY NOT ENJOY TAX EXEMPTION
The advisability of, removing tax exemption from
future issues of Municipal or Government Bends has
for many months been urged from a number of sources.
A measure te provide for this the se-called Green
resolution Is new pending before Congress and a
favorable report eh it has just been ordered by the
Heuse Ways and Means Committee;
The Green resolution proposes, by Constitutional
Amendment, te give the Government the right te, tax
income from securities issued, after, ratification of the
amcnlment.-tiy or under the authority of any State. The
, same power is given te the States as regards Federal
'"securities. ,
The fact that this movement, which would greatly
restrict the available supply of tax free 'securities, has
J progressed se far should be carefully considered by
investors wHe may wish te held substantial amounts
of such securities.
We own and offer
$600,000 Venango Ce., Pa., Matarttjr tiM
Read Bend . . . .' 4tt 192747 4.05 U & 2)
$600,000 City of Bethlehem., Pa.,
Bridge A St. Imp. Bends. . . . 4 1926-52 4.10 d &2)
$500,000 Ware County, Ga
Scheel & Read Bends 5 1934-48 4.80 U
(1) Free of 'all Federal Income Tax
(2) Free of all Pennsylvania State Tax
Harrison, Smith & Ce.
INVESTMENT SECURITIES
121 SOUTH 5TH STREET
PHILADELPHIA
LOMBARD 6100 '
Free of Pennsylvania State Tax
-Exempt from Federal Incenut Tax
$150,000
Mahaney Township
Schuylkill County
5 Scheel District Bends
Dated April 1, 1922 Due Serially Coupon in Ferm
Denomination $1,000
FINANCIAL STATEMENT
Assessed Valuation $6,745,066
Total Bended Debt (Including this issue) . . 369,000
Population, 1920 5,627
$7,000 dni
7,000 "
7,000 "
7,000 "
7,000 "
7,000 "
7,000 "
7,000 "
7,000 "
7,000 "
7,000 u
Oct.
1, 1922 at
1, 1923 "
1,. 1924 "
1, 1925 "
1, 1926 "
1, 1927 "
1, 1928 "
1, 1929 "
1, 1930 "
1, 1931 "
1, 1932 "
100.39
101.15
101.88
102.58
103.25
103.89
104.51
105.10
105.67
106.21
106.74
$7,000 doe Oct.
7,000 " "
7,000 " "
7,000 " "
7,000 " "
7,000 " "
7,000 " "
7,000 " "
7,000 " "
7,000 " "
3,000 " "
1, 1933 at
1, 1934 "
1, 1935 "
1, 1936 "
1, 1937 "
1, 1938 "
1, 1939 "
1, 1940 "
1, 1941 "
1, 1942 "
1, 1943 "
107.24
107.72
108.18
108.62
109.05
109.45
109.84
110.22
110.58
110.92
111.25
Accrued interest te be added
Te Return 4.20 Per Cent
LEWIS & SNYDER
1524 Walnut Street Philadelphia
' Phene: Spruce 6884
i
The statements In this advertisement are baed upon Information obtained
from official sources or from these which we record as reliable.
$150,000
City of Pottsville, Pa.
Municipal A Bends
Dated April 1, 1922 Due April 1, 1952
Optional April 1, 1932, or thereafter
ExemptMrem all Federal Income Taxes
Free from Tax In the State of Pennsylvania
lil investment for Savings Banks and Trust Funds In
Pennsylvania, New Yerk and Connecticut
2i0t7RVc.'"-e' With a PPulatien according te 1920 Census, of
f y85, is an old and conservatively financed citv. incoreorated
tiinei',, messed valuation is officially reported te be
$11,083,356 and the net-bended debt $473,313.
Price 105.75 and interest, yleldine about 4.05
te optional date and 4.75 thereafter
Circular en request
i
I
Harris. Ferbes & Ce
Pine Street, Cerner William, New Yerk
Widener Building, Philadelphia
lllW
S. S. Kresge Ce.
199 5-and-lO.Cent Stores
EBSSSIbBlS
E2S22E
iiiiiiiiiiiii
This business has developed
since 1909 from 42 stores with
gross sales of $5,116,000 te 199
stores In 1921 with gross sales
of $55,859,000.
The 1922 edition of our Kresge
pamphlet shows that earnings
available for dividends .in 1922
are likely te exceed previous
records.
Send for Circular J-9S
f
Geerge -H. Burr & Ce.
121 Chestnut St, Philadelphia
Chicago San Francisce New Yerk
St. Leuis .os Anceles -Bosten
Hartferd Portland. Ore. Seattle
WE WILL SUY
Girard Teut Ce.
Phila., Gtmn. St Norrittewn
Chester & Phila. Rwjr.
Fire Association
Weltbach Ce.
WE WILL SELL
Minehill & Sch. Haven R. R.
United Sec. Life Ins. &. Trust
Bank of North America
Central National Bank
Giant Pert. Cement Ce.
MORLEY, WOOD & CO.
, 333 Chestnut Street
Members N. Y. & Phila. Stock Exch's.
nil s srnRF nfw
HIGHS ON CURB
Stocks
Up or Down ?
The average of twenty Industrial
Stocks has new risen 25 points
from the low of 1921. The aver
age of twenty rails is new up
20 points.
Should the long swing speculator
buy new or wait for a reaction?
Babson's
REPORTS
Barometer Letter just off the
press, gives you the plain un
biased facts en the situation and
tells you what's going te happen
te Industrials and Rails.
Repert en Request
This Barometer Letter and Booklet
"Getting the Most Frem YtmrMenif
is available for distribution te inter
ested Investors, gratia.
. Tear eat tat MMBe-New-and hand It
te your secretary when you dictate the
raernhit-'i maU.
"aaaas MEM 0-"""i
5 Fer Your Secretary
S Write Reger W. Babfen, president of
Babaen'a Statistical Organization.
ncucsicjr nun, , raus., as ioiiews:
Please aen" e n-(r
Diuwun out; ywi .
1
and booklet
"Pitting the
Most row Ytur
Meney" wrsiie.
MS !
We Offer:
METROPOLITAN EDISON
COMPANY
7ce Cumulative Participating
Preferred Stock
Dividend Exempt from the
Nermal Federal Income Tax
Free of Pennsylvania State Tax
Company furnishes electric
light and power in Reading and
Lebanon, Pa., and surrounding
territory.
Price 96 and Dividend
Descriptive circular en request.
Samuel McCreeiy & Ce.
Members Phila. Stock Exchange
Franklin Bank Building
International Petroleum
Touches 23 Radie Dreps.
Beechnut Sags
New Yerk, May 3. After n steady
opening, tlie curb turned Irregular. Pc
treleum steckn wcre again tfie feature
with a untnber of new high marka
reached In this group. Standard Oil
of Indiana was in geed demand, ad
vancing te 100. Standard Oil of
IScW Yerk was also active and sub
stantially higher: Cities Service Issucb
were ntcedy. International Petroleum
touched 23, a new high for the move
ment. Mexican Seaboard was eaeicr.
In the industrial list, Hudsen Meters
developed heaviness, while renewed sell
ing In Ifadie caused that stock te drop
below C. Beechnut also was Inclined
te sag.
INDUSTKIAI.B
High
SOOAerrm Packing ... r.t
122 5fehnut Pack ... as',4
?.J? 5r ' Am Teb "UP- u(i
100 Columbia ICm-rel,! an
..An rt-.-"-". -"-" '".
" wnicy union , , ,
300 Durant Met
22 Um"n Kodak . .
noe Dubliier
1700 Hudsen Met
aeailljtta Bsf Raz ..:
400 Qeldwyn Pic
aoe Hud ft Manhat . . .
800 Imperial Teb
,20 Illinois Cent nts..
100 inter Rubber .....
tlOO Mercer Met V. T. . .
'i0 Philip Merris .
MOO Radie
100 Radie of
700 Ree Meters
noe Seuth Ceal Iren.
fOIIHterllna Pred ..V
100 Teb Pred Ere ...
20OU S I. II ....'.!
1100 United Ret Candy!
STANDARD OILS
300 Ana-le-Am OH .... 20'4 "OTi 20T4
! u. 5 7A .- " i'5? loe
70 Stand Oil f T ...420 S 418
Lew Noen
00 110
384 aV4
IV IV
80 0
ir.'i ! in.,
1i 1R lni
11 77 i 77H
H 81,4 A.
SlU 21 21
:07.. 20nU 20SU
i3 iSi i5?
ia ia in
en 00 00
gji si 8j;
1 4 4
2341 S 2?2
Tl 75 71
'? ''
0!i 6 0(4
HIV
420
INDEPENDENT OILS
200 Aetna
100(1 Alren
20(Ktoene Oil IB
1300 Iloaten Wyemlna.. B8
31O0Crlb Syn ,...".. ',i
SO Cities Serv (old) ..235
100 Cities Serv Df .... 0!l
.400 Creele 8yn 3$i
1000 Knilneera Petrel . C
BOOOFay Pat 1
000 Federal Oil 174
aeOKensland 13H
.100 Olenreck Oil 1?
1000 Hudsen Oil 20
4200 Inter Petrel 83 K
0000 Lance Creek H
2000 I.lvlnaaten Pet ... li
2011 .Marncalbe oil .... 23 i
300 .Meftltt Oil 13
300 Mexico Oil 34
100 Mex Pan it,
2100 Mex Seaboard ....48
000 Mountain Products, in
noe .Mutual oil 8K
1S00 New England Oil.. 48 14
1800 0mar oil sli
lOOTennek Oil n
200 Premier Rex 34
2000 Red Banks 2.1
BOO Halt Creek Cen.... 14
AOO Saputpa Ref 4
000 Sims ret 10i
130OSkelly Oil 8i
.1000 Stanten Oil 211
liaoOTcxen 112
1000 Turman IA
BOO Victeria Oil new.. 08
300 Woodburn 73
.nir.uu v
ine Alas 71r Celum ..
SOOAlvnrde M
,8flOAn A Cor of S A
11100 Hlg Idace 23
1 inn, hesi i aient .... 21.
1400 Dest & Ment Cens 03
4O0 Canada Cep 02
3000 Contraction 2
80O Cens Cep M li
100 nailutin rnnnap 1 JL
. Tri-"..,,"'Jir:, '
uruij unianpia r lerencc
?.H 1H 1H
in
87
23.
0(H1
3,
5fl
1
h;
13l
83H
1H
MS
in
87
tl
233
OOji
.I
0(1
41
20
83 ?4
8
23fc
13 13
3'i 3U
1 ', 1 H
47'.i 47 4
HI 10
8'H 84
42 42
8 A 8i
04 OT4
25H 2?
14 14
3J4 3T4
ink lOH
8V4 HiJ
2.-. 211
OS . t!)
ns
75 75
IS -1H 3K
ejv it n
22(5 22 22
2000 Independent Lead
2000 McKlnlcy Dar . . .
200 Magma Copper .
itiMin -.ii:irsn Alining
23
!74
.in
34
8i
H',4
'.
U.I
II
10
B
0.',
l"i
no
iA
23
81
HI
oe
lsi
20
a8Ti
34
am;
20
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u4
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10
e's
1i
00
iA
V.i
23
21
1)1
' 8!'
211
83
all'4
34
2lli
20
HV4
en
e
in
65
oe
1H
iniu miu.
104'4 104J4
102 102W
081, 981
ROO Mether Ixjrta clt
2100 Natleral Tin ..
1000 Nixon Nev
200(1 ilex Cens
BOO Se Amer P ft O
100 Tuolumne
000 United Eastern
llioe Volcano Mines .
100 West Kml Cen .
300 Yuken Ueld l'.i
RONDS
300p Anaconda 7. 2U..103lli 103, 1034
wuuii Armour we in ...kmvj
7000 Reth Steel 7s. '23., f 05
Iflne Heth Steel 7a. '35. .HIL'Ti
30000 Can Nat Ity Eq 5s. 08'4
iuiiii cent Bieel Bs
0000 Cuban Tel 7W
48000 Freepert Tax In ..104H 101i 101H
'jntltl llprahev Chnp TU 1H3U mili mat?
30000 Int at Ner Bs ... (lilt, llHa Hfl'J
4000 Interbore 8s 87 87 87
1000 Knry! Q A K (1 ... ftilH fl(li mm
, 0000 T.actede Ons 7s . . . 0l? liI fifM
'lOOONnt Acme 7'4s... 1)8 08 08
0000 NY N H ft II 7s.. 01 111 ni
400(1(1 Ner Am Edisen III D2T4 02?i 0"'4
1O000 Pub Serv N J 7s. 103 103 10.1
2000 H O N Y flHs....UP(l'4 1004 10(U
noeo swift Ce 7s '25..iei ions ieiJ
iiiim. uii uii i.uiii iin..it,ia iui, iei
n.An. .... .til n-.i d- .miiT .... . ...
uui'ii vhi jh ,-rim nn..iui., ii.i,
inilll ..'I nnl.aa..M ?... ...11.'
1000011 Ch M ft S P OS
00000 NYNH ft H 7s
. ...104'4 104(4 1044
...lOOjJ 105i 105i
1 ..1044 101 i 101H
114
innu
..1014 10l4 lniU
Fr 7H4 7H4 71"?
Fr 75H 75'1 75?
Laying the Cornerstone
built,COw8 the "rncIstn around which business success ia
te sprv-n nre th,ero'e,p always en the lookout for new ways
ESta2 our .cJints in all matters pertainimr te REAL
tral BrWJi MORTSAGES. Te prospective buyers of con-
any hlTet'080 ,eff.er a few Chei" locations suitable for
' . ne invue interviews.
JAMES D. WINCHEIX
Every 'Phase of Real Estate Service
HftBaUha.. aOi '
h? RI Mil, TatlanVinnai .. M. 1A ILII. JlLln
BtfiA ."ff.v"'i arww 4 m w wiiviyni
WANTED
OFFERINGS OF BONDS
LEGAL IN NEW JERSEY
RAILS
MUNICIPALS
Samuel K. Phillips & Ce.
Members Phlliidelphlii Stock Rxchunge
B07 MIKHTNUT KTK KKT
The
First National Bank
of Bosten
Capital, Surplus and Preflta
$37,500,000
iiiiiiiiiiimii j;
Offices for Rent
NIMU.K OK Wl'lTK
GRAMON BUILDING
1830 ARCH STREEr
Telephone, lxMUt S508
vn
W. A. Harriman & Ge.
INCORPOItATDD
Drexcl Bldt., Philadelphia
NEW YORK CHICAGO
BUFFALO SYRACUSE
HARRIMAN NECKLACE FOUND
$250,000 Gema Mlatlng Daya In Op Op
helatery of Automobile
New Yerk. May 3. Fer four davs
the wonderful pcnrl necklace of Mrs.
William Averell Harrlraan, valued fit
mere than $250,000, wns uijbtcrleunly
lest.
Yesterday it was found under condi
tions that only served te increase the
mystery.
Through a friend Mrs. Harrlraan
said:
"I was frantic. I could hnrdly be
lieve that I would ever sec my pearls
ngnin. Tin: car had been searched. The
pearls seemed reup. Then after dey.
hud elapsed we had the car linings
ripped in n lust desperate attempt,
which T thought would be In vain. And
tlm pearls were feutnl."
After a luncheon lest week nt Old
Westbury, L. 1., Mrs. llnrrimnu me
tered te New Yerk with Mrs. William
ltussell (Iracc. On her arrival home
Mr. Harriman found the necklace was
missing.
MARRIED HALF CENTURY
Ninety-five Relative Hener Mr. and
Mra. H. J. Stenz
Ninety-five relatives nnd friends nt
tended the fiftieth wedding nnniversnr
celebration of Mr. nnj Mrs. Henry J
Htcnz, of Lester, Delaware County
The affair was celebrated at the horned)
their son-in-law. William (J. Much
!t7."l Main street, Wlssnhlcken.
Mr. and Mrs. Stenz hnve had nine
children, three of them dying in In
fancy. The ethers are all married, and
there are eighteen grandchildren ami
nine great-grandchildren, the yeunges
having been born last Saturday. Mr
Stenz is n pensioned empleye of the
Philadelphia Electric Ceuipauy, afte
thirty-two yearn of service.
FINANCIAL BRIEFS
NcW Yerk State ateck transfer tax
durin Anril amounted te $1,007,700,
the largest receipts since November,
JU1U. '
American Stores Company haa pur
chased canning plant of Jeseph B. An
drewa Company, at Ilurleck, Md., and
will operate It fier canning of tomatoes.
The average price of trie twenty ac
tive Industrial stocks advanced .20 per
cent yesterday te 03.04, while the twen
ty railroads declined .11 i)er cent te
84.34.
Stockholders of Standard Steel i Ca
Company at special meeting approved
recommendation of directors Increas
ing capital stock from $5,000,000 te
fOO.000,000.
Statement of Salt Creek Producers'
Association, Inc., and subsidiaries no
of December 31 shows total assets and
liabilities of $20,700,052 and profit and
less surplus $0,003,145.
The Tenth National Bank announced
that $100,000 has been added te its
surplus account out of the earnings for
six months. A seml-nnnuul dividend
of 4 per cent is declared. M
New Yerk bank clearings yesterday
passed the billion dollar mark, with a
total of $1,125,500,000, compared with
$027,433,038 a year age. They set a
new high for 1022. On March 1 they
were $1,000,728,820. '
Vacuum OH Company reports for
year ended December 31 net profit of
$6,158,500 after charges and Federal
tax, equal te $41.05 n share en $15,
000,000 capital stock, against $8,380,
783. or $55.01 a- share In 1020.
Directors of the Yellow Cab Manufac
turing Company at Chicago, decided te
double the company's outstanding "B"
stock, an increase of 100,000 shares.
The new stock would be offered te
stockholders at $30 a share.
After charging off operating losses in
ventory depreciation, unearned Interest,
depreciation and maintenance cherees
tc. Anaconda Copper Mining Company
wt year nau n net uencic ei $iu,uuu,
555 te be met from profit and less sur
plus. Subscription books for the $25,000,
000 thirty-year 5 per cent general and
refunding mortgage bends of the Pacific
Telephone and Telegraph Company
were closed today within n few minutes
after the opening of business. The
bends were offered at 04, te yield 5.40
per cent.
Pennsylvania Ceal and Ceke Corpor
ation for the year ended December 31
reports operating income $5,008,070
and net income $800,250, after deduct
ing operating expenses and reserves
(but before deducting Federal taxes):
Production was 1,580,250 tens of bi
tuminous coal.
The Federal Farm Lean Beard has
granted a charter te the First Joint
Stock Land Bank of New Yerk cover
ing the territory of New Yerk und New
Jersey. The capital is $250,000 und
surplus $50,000. Tlue. stock will lie
'distributed among farmers and bank
ers in the rural districts of New Yerk
and' New Jersey.
Net earnings of the Brooklyn Bnpld
Transit Company from nil sources after
taxes and rentals for March were $350,
341. compared with $75,440 for March.
1021, nn increase of 304 per cent. Fer
the nine months ended March 31 the
system shows a net of $2,012,041,
against a deficit of $5,380,348 for the
corresponding period n year age.
The assets of Canada' Steamship
Lines, Ltd., at Montreal, have been
written down te present values by a re
duction in surplus of approximately
$5,000,000, it was announced. The
surplus new stands at $3,000,000. as
against $8,000,000 at the end of 1020.
The company's voting trust has been
reorganized and the present trustees will
resign.
Bradstrect's reports 1048 commer
cial failures In the United States dur
ing April involving $72,553,740, com cem
pnredMvith 2317 insolvencies in March
with $57,513,500 liabilities, and 1410
(lefu-ults in April, 1021, with liabilities
of $..1,048,270. Failures for first four
months of 1022 totaled 0050 with lia
bilities of $302,7(13,847. against 0343
hetbacks in the same period of 1021 in
volving $273,810,3110 of liabilities.
Bnyuk Bres., Incorporated, for the
three months ended March 31 report
net earning after deducting charges
for maintenance and repairs of
plants nnd estimated Federal taxes,
etc., of $250,425. Other Inceme of
$17,511 brought total net income te
$273,030. Fer depreciation there was
allowed $10,102, preferred dividends
$44,170 nnd reserve for first preferred
stock $23,050. leaving a surplus for
the three-month period of $180,054.
The American Hide nnd Leather
Company reports fort lie first quarter of
1022 a deficit of $23,221. in contrast te
a surplus et .'ui.iini. or SI.(l.i n slinp,.
en its preferred stock in the last quarter
of 1021, and u less of $1,210,383 In
the first ene of 1021. The figures for
the first quarter of 1922 de net include
.;iiru,wu reveiveu as extraordinary in
come aud representing lusurance en its
burned .plant. After crediting that
amount te income there Is a surplus of
$471,770.
Itcpert of Anaconda Copper Mining
Cempuny for year ended December 31
shows deficit of $10,009,555 after in
terest, taxes, ucpreclntlen nnd nrlmr
StOckwell ' CERTIFIED PUBLIC
Wilsen & "ceumm
Ijjjyfll UTil.BIJi.,Pani.
PM ti t! ., . . fc . -.
;?M . 'vt''i--.J'i:yr...,..,L.i"-1;"'.. .:;: V.j.;.1
AUTOMOBILE
INSURANCE
a&mwsw!
CONWELL INDORSES WELSH
Saya Cengreaa Aspirant Will Be Effl
dent In Any Office
Dr. ltussell H. Cenwcll, president of
Temple University, hils sent -a letter te
former Mayer Jehn Weaver, chairman
of the Lawyers' Committee conducting
the campaign of Assistant District At
torney deorge A. Welsh, the Organiza
tion choice for Congress from the West
Philadelphia district, indorsing Mr.
Welsh for the office.
"T de net knew anything of the lecnl
clrcuuwtunceH in his district, but I de
knew that be will be u conscientious nnd
efficient servant of the people In any
position te which he may be elected,"
, VWJJ W(Vl
charges. This compares with surplus
in 1020 of $2,001,061, equivalent te
$1.15 a share (par $50) earned en the
outstanding $110,502,500 enpitnl stock.
The Brazilian (ieveriiincnt lean of
about 0.000,000 will he offered in Lon Len Lon
eon nnd New Yerk within the next few
days. Cable advices state Londen por
tion. 7.000,000 at 7'i per cent, will
be offered there tomorrow.
The American Machine nnd Foundry
Company will redeem en July 1 nil of
Its first mortgage 7 per cent serial geld
bends by the payment of the principal
and Interest, premium of 2'.. per cent
Virginia flailwuy and Power Cem-'
pany for the year ended December 31
shows surplus ever tixeil dim-iron -.i
.1 , .,., n., ",-. I.IIU
inner ciihtkcs ei JNuiu.uiis, After de
ducting $507,738 te cover n per cent
dividend te preferred stock, pavnble In
preferred stock, there remains $482,300
or equivalent te slightly mero than 4
per cent en the $11,950,200 of out
standing common stock.
Hamilton Mfg. Omits Dividend
nasten. Jhir 3,. Directors of Hamilton
Manufacturing- Cempiiny lu v'e- Jf . iK
conditions which begun l'ebruarv 13. "iirt
"i ",I.C0!'',I.?U8' 'v velcil tp nmit common
dividend due at this tlm. Thrn months
hke 1 iht cent was declared and In mil? en
.,.'o,c.',f1epJr.renetntrr.llld,."" or ,i'8ue:S3
In Continuous Business
80 Years
fi.mw.TOia
- vWv8tJwi
A World-wide Service for Banks
This institution is new equipped te supply banks which have no
foreign facilities of their own, with a complete statistical service .cov
ering financial, economic and investment conditions in all countries of
the world. We have correspondents in all the important financial and
industrial centers of both Western and Central Europe; in all parts of
Seuth America, in Australia, Seuth Africa and Asia. We have equipped
a complete foreign statistical department which is constantly being,
added te and expanded.
This foreign statistical service is supplied without extra charge (except
where special expense is involved) te all clients of our regular American
investment and statistical service for banks. This service embraces a
complete set of our annual rating books en investments in four volumes
with monthly supplements; a continuous analytical service throughout
the year; a continuous inquiry privilege and, if desired, a complete
system for analyzing and reporting upon the investment holdings of the
bank or trust company itself.
" 1 be American banker and his customers are interested in foreign affairs
as never before in the history of this country. Net only does the problem
of investment in foreign securities constantly come up, but the pwblems
of trade and commerce, of governmental finances and of economic changes
and trends are matters of daily discussion and dispute. The obscure
farmer or retail dealer of the far Seuth or West is today beginning te,
understand the significance from the standpoint of American prosperity
of changing conditions in ether lands, just as the thoughtful New Yerker
is doing. It is unusually important, therefore, for every banker te be
in a position te give the benefits of this type of world-wide service te ,
his clients.
1 heusands of banks and trust companies in this country are making
use of the service we render, either in' whole or part. There are several
forms of service which we supply in addition te the world-wide feature
which we emphasize in this announcement. Loek us up through any
avenue you will. Or write us directly and full information will be supplied.
Moodys Investors Service
35 Nassau Street, New Yerk City
BOSTON
101 Milk Strata
PHILADELPHIA
Rati Ettas Trust Bid.
CHICAGO
First National Baak IMS,
$500,000
Great Northern Railway Company
General Mortgage 7 Geld Bends, Series "A"
Dated July 1, 1921 Duc July lf '1936
Interest payable January 1 and July 1 in New Yerk City.
NOT REDEEMABLE BEFORE MATURITY
Secured by General Mortgage en 7,675 miles, constituting 98 of the total
mileage of the Great Northern System. Alse secured by pledge of the
Cempany'sentire stock holdings in the Chicago, Burlington & Quincy
Railroad amounting te 829,337 shares, and ether valuable collateral.
Price at the Market, te Yield About 6
Janney & Ce.
Philadelphia
Deminick & Deminick
New Yerk
Tie above statements and statistics are derived from cfflclal source., or theso which
we retard as reliable. We de net auarantee. but belleve them te be correct.
MOVER & CO.
Bankers & Brokers
301 Cheatnut Street.
American (In, & Kler. (In, SOU
(Irnrral (In, ft Kler. 6. 1D20
Kmplre Cl H Kuel fl.. 10J4 nnd 10:6
Publle Herrlr Ner. 111. ft. 1058
Cltl Fuel Tower 6. Wll
BAUER. STARR t CO.
I.nd Title nulldlna. riillndeluhU
... NfwVrk "Wee. v lteter Mrm
Direct Private Telephone bet. Offices
We Specialize in
Commonwealth
Power, Railway
& Light
Common and Preferred
PYNCHON&CO.
Ucmbera .Vete l'erc Atecfc Exchnngi
111 Broadway New Yerk
Telephone Hecter t7e
LONDON MVKHI'OOl. I'AIUS
PRIVATE WIRES
fe principal cilirs Vnitcd
States and Canada
i .
I THE
TAX FREE MUNICIPAL MHDS
HIGHEST RETURN OF ANY FIRST-GRADE EASTERN
PENNSYLVANIA MUNICIPAL OFFERING TODAY.
CITV OF READING SCHOOL Ss
MATURITIES 1935 TO 1945
PRICES TO RETURN 4.125
. M. FREEMAN & CO.
431 Ch..Mrt . ' aMteM.I.
TateplMiM Unibanl O710-7U-712
$12,000 Life Insurance at '
Age 35 for $10.08 Per Menth
, In Hit Old-Mup Cemiiunr
&!!,,:KJLr ,)n, of Mlrtl nd I."rn
Him (10 a .Menth Mill Ie for Yeu
PEARL SUDLOW AGENCY
'feSUY.JeTS,H,A..
btO. A. HVtW & SONS
New Yerk Cotten KsthiSSS'
STOCKS AND BONDS
bought and sold for cash or
carried en conservative margin.
BeU.ru. Court ..H, ac
s
CENTRAL PACIFIC RAILWAY COMPANY
4 European Lean Due 1946
Outstanding Dec. 31, 1920, $16,501,934
rrlnclpal and Interest re Guarantied l.y emlnrni-iiicnt i,y Southern
Tactile Hallway Company, and ReihIh and SteuKa of a nar vulni , .!r
ever J83.000.000 arc pledged aH security. P ulue of
Should the Southern 1'aclflc exercise H riRht te call these Bends next
?l;h .'" .hrdr.r ,!, rcK'a80 !."u !"eUk"'1 colluteral, thure would iSTi
profit te the holder approximating -js return en the Inveatn enL
Price $73.50 for 500 Franc e
Investment.
19.15.0 Bendi
Yielding at greaent Rates of Exchange About 5.40
Circular Sent I'pen Itequeat
EDWARD LOWBER STOKES & COMPANY
20 Seuth 15th St., Phila.
Locust 0345
NEWBURGER.
HENDERSON ft LOEB
tlembera New Yerk ..j
PhUUslphia Stock Emehanfm
fort, JSacen & Vtcfe
3nc9rprtt
An oraanlsstlen of exrrltnrrd Enslnoef
Puslle Utility nd Industrial BustatM.
M&fl&Ml1"
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XXIV UIII DITDuaaat
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Well-Secured First ' JfM
Mertnammm -"'-taj
C. Trever Dubai., h
Tyfefffy. ffM.
f'a&,i
. :?$m.x& V
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