IA
IV
ISfflgE
IB I, ';f
n
ancet
activity
increases
jfij
tm
: '
5l
LR3Hg
U SHQULD HAVE
latest telegraph news
information en the
few Yerk Curb stocks
rhlch are advancing;
IY NOT PHONE US?
Less than two minutes of
time required and no
ft interruption te your
tKpustness.
Z1V'
Ri- - - -
Be sure and ask for new
INVESTORS AND
TRADERS GUIDE"
It 4
W
1 1 ,
1,
v i
VX:
VI
rradins procedure fullv
arplained in its 38 pages
IPbencall or urite for ctpy
p Jenes & Baker
L? Members New Yerk Curb Market
le
Direct Private Wires
KewYerk Chlcsre Beimn rklUdrlpbU
Pmieurih Detroit Baltimore Clerclsn
PHILADELPHIA OFFICE
Widcner Building
I.VYIVi TelSri.,,."1' LOCUM 4730'
vrytWi Keystone Race 5861
L.V.V Mi... HAfTflinnr nrrine
kVFTJ iTr i u niiJi
K,"'H
433 Equitable Building
Telephone FUiaS45t
II 'ti'i.M. " uilijT SilSS!
RWftiir Ymamms
T
I?' jjffif e U'-1
Ar Itcp'n Tii
A.... 102H
i.... iei
Chinese Ou t
ILK Illy Ss
0 82",
City llerd'x i
1 8TH
City nf Copen
hsgen 3!n
12 0.1
13 flju
S P2U
City Lyens Hi
1 87H
City Mars' as
1 8TH
Cty hie a. j
nerle 8s
11 ... 104
2.... 103
8.. . 108S
3.. . 103
City ToVIe On
1 T3
Cjecho-Hlevak.
Ilep'c 89 wl
10 ns
7 (gale) IIS
11 ... 08
2 .. 08
(V. ... 1)8
Denmark Cen
tt 13 8s
2.. . 110
Dept Seine 7s
1 .. . n.v;
2 . . . 0.1
1 IIS
7 113
1 . . 113
1 ... 03
D Canada 'SO
3 ... 101
4.. . 100
Dutch i: lnd's
rets '47
(BALER IN 11000
3
4
in.
3
a
i .
005,
CD's
nn.
.. no
(ale00,
. (Ifl's
. 00',
Dutch IJ lnd's
rets 'K2
Special Service
in
Ohie Securities
Members
t New Yerk Bosten
Cleveland
Detroit Chicago
Stock Exchanges
1 Vi. 1. VUlLUIl U.CUUUge
umcage iieara 01 iraae
Wire
'-Extensive
Private
System
OTIS & CO.
Cleveland
New Yerk, Bosten, Detroit,
"-Cincinnati. Columbus, Teledo,
Youngstown, Denver,
V A
CAKrun,
i
Colerado Springs
42.
3.
3.
30.
1
1
13 .
1
OflH
en a,
(1B
oes
Ofl
Dills
no,
Oeve't r'rencii
R,74s rets
l . 1024
3 . 1021,
HI . 102
1 101 ';
7 at)l01H
3 102
3 mi',
Geve iFUm
1 lOI'il
Atl'c Fruit 7s
.3 4.14
Atla'a Knox
Cln 4
4 MK
Atlantic Itef'g
ct 84s
1.... 104
Da It , Ohie cv
10 S2V4
4 82h
1 S2H
1 82 H
I . . 82H
Bait A O as
3.. .. 03V
Dalt & Ohie 3k
2 8314
Halt A Ohie (Is
niT4
00
. 09 '4
. . 0D
.. Oil's
. 100
. . 00'i
. 100
Ohie 9
1..
ft..
3..
3..
Halt
Wt'n 3 Ha
2 00,
1 00
IU O P 1, I
A V Va 4n
10. ... 804
3 80
Barnsd 11 Cen
a 8i
1.... 107
Uarnsd'll Cerp
b 8s
2.... 107
Belt Telephone
Jf 1 a 7s
10HS
HetJh Steel fd
01),
Deth Jtecl ls
4 00
1 08,
(1 Rap Trail 3s
64
Rkn Itap Tran
s sta
27 81 1.
n Han T cl 7s
10.. 83
14 84
8... . M4'i
14.. .. 85
Buffalo nech r
& I'ltt 4',is
1 01
Duah Uld'K 3s
1 00
Cana Oen tJlee
wl
3 .
4.
10
1
102i
102U
102
102S
10L',
10
. 08i
1 08.
10 OSS
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1..
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1.'....
4
"(sale)
1
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1
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53
Mtt
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84 i
am
.-.44
33
54 4
B4H
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85
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0 484
1 48 ,
trie Hit Ce 41
1 04H
10 04 H
Erie It B cv O
1 .... 51.
Erie K 1st en
).... 10tK
2.... 105
Erie K l'u 4s
.... 8TS
5 87S
Fltk Rub'r Cj
s rets
1.... ions
Fram'n Indurt
Dv 7'4s wl
1.... 101)
Cene't Elec i)s
3.... lenu
'loedyear T 4
Ilub'r '31
Nassau Elec'e
Hwy 4s
n 48
23 48
3... . 48
N Urleans N
K'n 4H
1 M
New Or Tel ft
Mexico Si
0 10t
1 00H
N V Cenfl 4
. snu
N Y Cfl ns 41
2 07H
N Y Cfl 4 4s
' 88
N Y Cenfl 3s
Canadl'n .Mbe
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1 112S
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1.
in
if.
1." . :m
Wr
'& ,lf There Is a Market
JPi W Can hind It
ii2-i "'f' We held sales of stocks
-V v .and bends every Wednes
day, charging $1.50 en
trance fee for each item. Our
weekly catalogues and postal
card service reach every mar
ket. We take pleasure in
furnishing quotations.
Barnes & Lefland
Sterk Ilrekri-N find Auctioneers
147 S. 4th St.
.Tan (Snir't tat
10 01 J
Jap (iee't '.Till
) . ,,
t-4 . .. he:
Jap Oeven't 4s
1 .. 77
K lielelum lis
1 103U
in iel'U
in 10214
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1 2 1 03
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1" ivu,
Klncdem Den
mark ct fl
1 nss
0"
70 ,
70S
70 14
2 70'i
4 . 701,
2 . 70 S
70 4
Ctl Leather 5s
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dpn'l of Oa ns
23 00 4
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1 . 82 4
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7 . 8',
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mark ct 8s
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2 . 1114
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lands ct ns
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7 (sale) en
1
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en 4
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1 . 02
1 02
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1. 484
C A A char 3s
103
103
103
102?s
103
102',
102
Ooedenr T A
Rub'r '41
8.... 1104
1 ... 11(14
1 . . 110
I 1104
20.. . 110
1 . 1104
O Nhn R 84s
2. .. 004
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3 . . Ill)',
at N'n Illy 7s
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2.. . 1004
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Heck Val 44
1... . 804
Itellaml.Am'n
Line ns
10... . 024
3 024
Hud A Man In
1 . (13
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. . 103
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Cenfl 7s
2.... inn.
N Y t'dls'n co
4s rets
3 ... 1001.
10 ... 1004
1 .. imii.
N Yk Lluht II
A Pwr 4s
2.. .. 82
New Y N it A
11 4s '88
2 50i
New Y N II 4
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3 83
N Vk nis 4s
3 . . 434
II . 42,
t8. . 424
N Yk Ulys Bs
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7 144
1 . . 144
1 in
4. ... 144
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N Y Rl s et 3s
ID 124
New Yk Shs-i
A W'n fd
2 . . rt'l
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10 .. iJi.4
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3 1044
1. . 1034
1 . 1044
N Vk V c A
nnst 4 4s
17.. .. OO'i
Penna R R 5s
2 00 4
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1..
3..
8,.
8,.
5..
1.
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100
101)4
1084
108
1084
1084
1084
I'ee, (las l.liihl
A Ceal Ss
8 01
I'ere Marqt 4s
5 804
t'hlla Rlys 4s
4 804
3 30
1 304
4 804
Pub Serv Cerp
N Jsy 5s
1 81
Reading Ce 4s
2 83
4 854
4 834
15.... 834
Heading C Js
Ct't Cel 4s
1 SS
Rie O A W 4s
3. . . 70
(lale) 70
Reck ll'd A A
I.eul'a 44s
2 82
Et I. t'n Ml 4
S Rwy 4s
1.. . 874
St I, I n Mt A
S Rwy Ss
4 . . . US
0. ... 08
St L I Mt A S
R A Q dlv 4
10,. . 824
St I. A S ' a)
2... 814
1.. .. 814
7(sale) 81 4
2 .. 814
St L A S V Ir
1 004
7(sale) CD 4
23 . . . . no 14
St L A S Kran
Sefles A
1.. . 734
1 734
1 734
8. 73 4
1.. .. 734
8 731-
St I, A S Krai.
Series B
1 RS'
1 . . . 8
0 8
1..
1..
1..
1..
3..
2 874
fl 87 4
S'p Pae cv 4s
2 Pt
ft 014
1 014
0 D1U
8n l'aetTerm'l
1 834
Sn Railway 4s
Ti
2 08
074
07
0.7K
074
0T4
08
08
074
07V
Sn Railway 5s
1 034
2 084
1 98 H
Sn Rall'y 04s
004
004
004
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0014
004
00 4
004
no
004
004
004
004
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1..
3..
ft..
2..
1.
1.
1.
1.
8.
8.
3.
Stand'd Oil of
Calif 7s
1.... 1004
3 100U
Sleet Tubs Ce
of Am a 7s
3.... 1014
1.... 1014
Third Ave aj
3 014
1 01
ft HI
2 004
7 Ol
ft 814
Third Ave 4s
1 074
Tidewater Oil
Ce ct 04s
1 . . . . 10.1
Tobacco Pred.
ucts c 7s
3.... 1014
8.... 1014
1. .. 1014
fist A Del, 4s
1 024
Union Pac cv
1..... 04
U Tank C 7s
1.... 1034
Cnt'd Drue s
1.... 108',
St 1. A S Kran.Ut'd Rly I Ce
Series C S Kran 5s
00 . ,734
1 . 734
7 . 7.V4
... 734
ft. . 73 4
8. 734
23 734
0 734
37 73 4
3 73 4
73 4
7 734
7 . 734
.in 734
20 .. 734
17 734
in 71
JO . 13 4
in 734
I
12
II
0
I
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3
534
33
33
34 4
3 .
0
i
3 1.
1..
1 .
00 4
00 4
Pin,
00 4
OH 4
'n cr.
704
704
I M Marine 0s
Nfk A Vn 4s
ft S74
North Western
Hell T 7s
ft. . inr,4
1 1004
1 ions
1. 1004
1 1064
N Pacific K Ilf
I t 03
. N Pacific IS is
I 1 . 804
1 1 . . 804
N Paclrle H t
I 3 104
, I 1064
I 1 106 4
1 Ore-en S I. 4s
70'.
St L. Se w'n J,
1 ..82
St P A K City
SfLlne 44s
ft . 82
ft . 82 4
14 1 824
I 1 . 824
4 I 8 . 81'-
3 San Antonie A
A P Rly 4s
1. ... 78
Seab'd A I, aj
2.. . 234
234
2 . . 23 4
3 23 4
3 2ft 4
8 23 4
2 23
Seab'd A I, fd
: 42'.
.. 424
0 42
S A I. 4s hIii
1 . .. 504
denb'd A I. fis
804
2 ... 87
U S Realty A
ImpVt J,
1 ... 034
1. .. 034
2 03
IU S Rubb'r 5s
1.. .. 804
1 . . 80 4
4. . 804
U S Rub 74s
3 . . 108
U'd S Steel 8s
2 . . 1024
1.
e
I T.
V& f
Continuous Business
80 Years
n
r MOVER r CO.
"Il """" snM arec tiwtt ,
rt: in .2 D... ,-. vl !....,.
Ijq UANHbKS UJJKUIU1K3
&Uslssa-sss301 Chestnut street
t '
1 -r.
Chl K
I
I
2ft
20 .
20
7
3
3
10
mi
004
Q ft
01 4 1
08 4
08 4
084
084
084
OS 4
084
00
en
00 4
00 4
00
00
3 ' II!) 4
1 no
Int I Pap l 3s
n Mi
ft 8
2 . . . sr.
1 s4
Iminclbls oil
Cerp Ss
1 054
Iowa Cenfl
1 (flat) 484
Iowa Cent 'I 8s
C B A 3 nSal 1 . 81
3 1004Jullus Kayser
.' A H I fts '.Ml A re 7s rrts
FINANCIAL
..' te thv; nei.nnna of'
1 'TUB. PENNSYI.VANIA-OIIHI PIUVKR &
1JOHT COMPANY FIRhT A RHFI'M)
; fSSa MOBTOAOK SINK1M1 FUM1
V aSdkrsrM "A" AND SERIES "II" ti,
Ml OMJ) BONDS IltE NO EMBER I. 1040.
0Bidepeslt In the Sinking I'und provided
undsjr' the First ainl Refundlnic Mertgaze
- m4'ly the PennsIanla-Ohle Power A
1 ' Licit Company dated November 1. 1020.
-y gmWmmm Ul e.. -.. ...WW........ ...-
y "nk Thirty-four (108.334) Dollars arnT that
WSfnaisntv Trust Company vt New Yerk, as
t'J ;Trts under said MertKaae and pursuant
110 ..Article Vlll inrrpni. win rri-ci, ,l tin
fT1st Department, 140 Broadway. New Yerk
t:lt. until 10 o'clock A M . en Wednesday.
lfw .24. 1022. sealed proposals for the sale
He'It' of bends (either Series ' A" or Series
11
83 4
83 4
834
S3
10
1
824
S3'A
83 4
834
834
S3
1024
102 4
2 102 4
Kan C Ft S A
1
4 (sale) 83,
" Vtsvt aApured by said Mortgage In
Jasjseunt as will exhaust the sinking
such
fund
In Hand at me lowest prucs at
h such bends will he offered for sale.
f iflmtx net exceeding I10r of the principal
V sundujit thereet. and airrued Interest.
( if Interest en bends purchased will cease en
jjHmT . IV--. anil pHineni ni n- nfneuiit
t" I- .Um .p.aiiIaiI nlTei r.il.l necrueH illtriHt
Wltl be made upon delivery te the Trustee
t. et-th Isinds. accompanied by pnipriy exe
P ruled Inceme Tax Ownership Certificate
- r The right is reserved ey me unnersigna
fl I , u, nK.. nv nil nff... 1.1 llhnla f.P In
D rJ.31 ll "I Ol. Ul.r, ... ....... v. ...
Bart!
GUARANTY TRUST COMPANY OK NEW
YORK.
Hy William C Petter.
President.
Kesr Yerk. Jlay 3, 1022
Kingdom
way ct 8s
1 .112
3 . 1114
1 . 1114
K Sweden fl
2 .. 1024
ft 102
Paris-Lyens M
0 wl
14 834
a '-i ' i
Queenii d h vr
1 1 02 4
2 1024
7 .. 102 4
1 1024
Rep ("nlle '2
1 . 1024
2 . 1024
Rep Chile '41
ft . I0ft4
I 1031,
7(sale) 10.-.U
1034
Rep Chile '40
1 1034
7 (salell034
R Cuba 3s Ml
0 se
Rep'n of Uru
guay Ss
1... 1064
Stxte of R O'e
uu aei hs , q,4 t.nck st(W .no
1 103 4 Chicago Mil A 2 004
Mate of Sae ,,p cv .,. jjanatl Sugar
Paule ct 8s s . 72 4 Ce 74s wl
1 . . lOI'iehlratn Mil r.1 ".. . SI
HIP CV 3S
S . 754
1 .. 70
2 7n
P fd
824'r
f2'.
I -' 'l.'l 2 . S24
I 1 . . 014
! 1 . 014
. Ore-W R R Ce
A N co fts
I 4 . . 814
I 1 S3
i Pac O A E fts
i 2. . . 014
1 10 f2
I 02 4
Par T A T fts
. 3 . 07 4
a 07 4 1
Pacific Tl A I
i Tel ft, w
57 4
57 4
57 4
37
57
574
574
57 4
13
1
15
21
10
Memp Is
3 70 4
12 . 704
Kan CAS 5s
2 SS
1. S34
2 . 83 4
2 . S3 4rK C T Rly 4s
Chicago Mil A I.. .. 834
St P 3',s Le (J Lex 44s
ft . . OS i 2 . 07 4
Chicago Mil i! 2 07 4
St P 4s '23 I. A .Nash 5',s
ft . . 80 4 1 2 10.1
Chicago Mil Af 2ft . 103
SIP fd 4t- (Kelly Sprlng'd
ft .. 00 4 Tire 8s
2 . . OOS 1 . 1084
2 60 4 ft 1084
04 4
0
04 4
04 4
044
04 4
04 4
Packard Mote.-
Csr Ce 7s
14 1064
1 1074
1 107
8. IH7
1 IH74
I 1... 107
I Psn A Petr'm
A T Ce 7s
1 1004
r.
ft.
in
10
5
ft.
1
an steel H .s,
5 . .. 1)84
Sinclair C Oil
Cerp 7s rcTs
8 ion
7(sale) loe
12(fla() ten
1 . 100
3. .. tee
20... me
13. Kin
Sinclair C Oil
Cerp 7 4s
1 . 1044
2 104 4
3 1044
2. 1044
- 1044
Sinclair crude
Oil P Ce 84s
8 , 004
8. 004
! 3 . 00 4
iSn'n Bell T Bs
IS . .. 04 4
12.. 04 4
ft 044
Pa Rd en 4 4s' 2 . 04 4
ft . OS Se'n Pacific fd
P Rd sm 4s, 10 .. . 874
7 004 . .
0. . 1024
1 . 1024
2 1024
2. . 1024
8 ,. 1024
1 . 1024
2 . 102 4
3 1024
1. . 1024
3 1024
Utah PAL 3s
2 ... 02
1. 1.24
1 0.1
1 03
1 . . 024
1 . . .. 024
7 . . 024
Va-0 chm Ms
ft.. . , 084
Ve-U Cn 74s
8 .. . 00 4
1. .. 004
1 . 004
2 . . 004
Va A S W cn
4 82
Wes'n Elee 3s
2 . 104
W - :: X. '
2 . . 004
in net,
We'n Union Js
2... . 00 4
W Lnlen 04
2. . 1104
Wesllnghs'e E
A Mfg 7s
1. .. 1074
1 ... HI74
1 ... 1074
1 .. 107 4
W A L E 4i.
1 OS 4
Wilsen co cv
8 ... 02
Wilsen Ce Ml
..... 00
1 . . 0'i
Wilsen C 74"
The itaUmsnt'ef feWf! of tfc4) mil
delphla Federal Reserve Bank at the ele
of business May 8 fellows i
tjpHmmrrcn
May 3 April 20
Oeld and geld cer- .,... ....!,
tlfieatei f 3,500,043 $3,480,080
Oeld settlement
fend. Federal fie- '
serve Beard ,.. 87,040.084 87,008,343
'baSSs1 .I?!1.. 161.441.020 0l.470,20ft
Oeld with Federal
Reserve sgei.-t... 163.400,003 150,321,763
Oeld redemption
fund 3,104,311 8,203,011
Total told re
serves 1228,000,20.1 1226,000,971
Legal tender notes,
sliver, etc 0.040.170 8.877,403
Total reserves... $234,033,881 $234,444,407
Rills discounted,
secured by Un'ted
States Govern
ment obligations.. $30,r03,223
All ether 0.888.733
Bills bought In eperr
market 18.273,237
Total bills en
137.3,1.1.035
8.038.718
20,473.058
)tai Dins en -.
hand tnl.73f?103
united states bends
and notes
United States cer
tificates of In
debtedness: One-year certin
cat (Plttman
Act) .'
All ether
Municipal warrants
23,532,000
8,000,000
736,000
$00,045,712
10.700,000
8.000,000
206,000
102,000
Total earning as
set 107,047,703 $95,112,312
Rank prem'ses (In
cluding vault)... $000,113 $000,113
Five per cer.t re
demption fund
against Federal
Reserve Hank
notes 70(1,000 700,000
Uncollected Items,. 45,703,810 44,221,(103
All ether resources 001,008 487,702
Total resources.. $378.770, 378 $375,500,290
LIABILITIES
Capital paid In (8.011.700 $8,011,700
Surplu ' 17,045,140 17,043,140
Reserved for Gov
ernment franchise
tax ' 220,000 202,000
Depes'ts:
Government .... 2.704,370 2,241,300
Member Bank Re
serve acceur.n ... 108,820,070 104,848.003
All ether 1.123,713 1,120.181
Total deposits... $112,444. 700 $108,200,404
Federal Reserve
notes In actual
circulation $185,300,450 $189,232,770
Federal Reserve
Hank notes In
circulation (net
liability) .... 7.7OI.O0O 7.053.000
Deferred avnllabll-
Ity Items 13,012.030 42.180.001
Alt ether liabil
ity 005,503 025,573
Total liabilities., $.178, 770,675 $375,500,290
Ratie of total reserve te deposit nnd Ked
eral Reserve note liabilities cemu'n?d, week
of May 3, 78 5 per cent: previous week 78.8
per cent.
Above percentages calculated en basis of
net deposits and Federal Reserve notes In
circulation.
MEMORANDUM:
Contingent liability en bills purchased for
foreign correspondents, week of May 3,
$2,623,447: previous week, 12,738,205.
m
LWtf.u-"' '
Twanty-.lx Vast PrwliWs ef Camp
" 23 Taka Part In Dlnnar"
Palmyra,' N." J.. May C.-J-Xwentyj
8lx Hest presidents of Camp Ne. 'M
P. O. H. of A., attended n dinner In
the P. O. 8. of A. Hall. Sheriff IW.
Oeergc Itegers nnd Geerge Winter were
the speakers..
Cnmp Ne. 23. with n membership of
047, Is the largest unit of the order In
the Stnte. A contest between the pest
presidents nnd younger members of the
cnmp te Increase the membership te
1000 is new being waged.
TWIMOHT LEAGUE TROPHIES
Te encourage Independent baseball among
the players en the various teams of the
Philadelphia Baseball Association, the. Pus Pus
me Lxixixa offers a number of valuable
trophies. See the Sports Paget of the Pub
lic LinaKs every morning for the official
score of each game played. . "MAKE IT A
HAIUT." Adu.
French Railroad
Bends ier Investment
We offer at the market
the 6 bends of the Midi
Railroad and the 6 bends
of the Paria-Orleans Rail Rail Rail
roadteo of the most im
portant transportation sys
tems in Europe..
Under agreements con
firmed , by law. principal
and interest of rjeth issues
are secured te the corri cerri
panies by the guarantee
of the French Government.
Investors owning these
bends receive the full
benefit of every improve
ment in French Exchange.
Price and Circular
en Request
Hemphill, Noyes & Ce.
iVecntwra Ntw Yerk Sleck Exchtng
Franklin Bk. Bldg., Philadelphia
Mew Yerk Bosten' 8crantaa
Albastr Irrsjeuae BalusMM
LOCAL MINING STOCKS
TONOPAH STOCKS
Rid Asked
Cash Hey (13 01
Jim Butler nit ,os
MacNamarn oe 10
Crescent 02 .03
Midway in .12
Mlzpah Ext nil ns
Mentana ok .12
North Star 01 lift
Rescue Eula Ill 21
Ten Ext .ni 4 014
I Vest And .014 .014
'.Vest Ten 02 113
DIVIDE STOCKS
Allied Dlv 1)04 .01
Alte Dlv 004 ni
Belcher' 01 .02
Helcher Ex , .01 .03
nreugh Dlv 04 00
Divide Ext 17 .is
Dlv Cen 112 .03
Dlvld-nd 02 .01
East Dlv . 004 .01
IHarmlll 12 .15
Knox OS .03
Sliver King ni .02
Ten Dlv 70 70
Ten Hashrnuck i2 .04
Victory Dlv 01 .02
Verde Dlv . 01 .0
Zen 11 .13
GOLDFIELI) STOCKS
Reeth ., 02 n.i
Comb Krac 01 .Cl
Crackerjark- 0,1 .oft
Dlam B B 01
Flercnc e 23 .23
Oeldf Cen (IS ,nn
Oeld Dev 02 .03
Oeldf Deen 02 .14
Great Rend no'-, .ni
Jumbo Ext I4 .05
Kewanaa 02 ,0.1
Ixine siar 02 03
Orn ,ni
I H-d Hills 014 .1124
'silver Pick IS .20
j Spearhead 01 .(13
I MISCELLANEOUS
Amparo Oil 1 oft
Ariz United 05 .10
Caledonia Oil .08
M'andrlarla 27 20
Eden 03 .10
1 Emma Silver 01 .02
Eureka frees 23 .27
1 Eureka Hellv 104 .ni
Hetla 034 .004
1 Marsh 17 .10
I Mether l,ode. In 13
Nev Hills 01 . .02
Nev W'der 27 . .'.'H
I Success 02 .113
I Tecopa Mln .OS In
VoUane IS ,47
Whlta Cap 07 mi
I Wllbert 02 .03
Budd Wheel Ce.
8 Preferred Stock
Cumulative Participating
Price en application
MCewnyCa
LAND TITLE BUILDINQ, '
PHILADELPHIA. PA.
Umbtf Philadelphia Stock Exehsasa
WK HAVE
MONEY
Fer Merlgages.Any Ameunl.Clly Property. 1
ABE K0LSKY
&C0MPANY,ic
N. W. COR. 0TH li WALNUT ST8.
nar snver was
day. at 354 d.
BAR SILVER
higher In
1. .. 1054
7 1034
i. ! 1031; Teday'a Range In Liberty Bends
10. . 1054 .. . 11.30
7.... 105 High Lew A M
1. left I.lbertv .'Jts" W."- M.-TS 1HI.4L'
20 1054 . liberty 1st 4- JMl.50 OIl.'iU !l!)..')ll
I Liberty 1st 4V4s. . 110.78
Liberty lM4'4s... 00..-0
Liberty .1(1 4 tfs.. BU.K.:
Liberty ith -HAs. ini.XN
Ser&eli Sros. & (Em.
f ubltr Utility rrurttfe
lark Exthnnija utUtatQ, frrlla.
Sierra & San Francisce
Power 2d 5s B, 1949
Phenes: Locust 02C-Me-4
Private Phenes, te New Yerk A Boatea
'.)'.). IN
un.ntt
011.70
00.40
HO.hO
00.81
Edward B.Smiti&Cs)
1411 Chestnut Street
Members New Yerk and Philadelphia
Stock Exchanges
Investment Securities
Philadelphia New Yerk'
W?wmm
Thie bend$ having
??: imr '...., "... ,wawa'i'M
s f: VMI. 'ra'.tt'4VrAA,fif
le been $eldi thit advtrtument $
appears' iitd-'inat
H,.
wjv
laonden te-
WIEGMER.ROCKEY&CO.
s; Certified Public Accountants
Vic Notes 4... 100.38 100.54 100.54 ' Drexel BuUdlllg, PhUaddphia
00.7U
0!l.5.i
on.se
110.
Swltz'd Cen ss!
0 .. 1174
1 .. 1174
U K Ort llrltf
00. . 107.41 ..
in 107 J q
23.. . 1074, :, ' "
,r ".-".!.. i.',;t lilcage Union
U. l ,a!L..linl la ct 04s
K I 11 IU-" I 1115.
11.
$.
k7i',
1
ri
V?
VIDBXITY TRUST COMPANY. Truste
under the Mortgage of Th Hunbury.
Haaletnn and Wllkcs-llarre Railway Company
tM Uav 1. 1878. herehv elves notice that.
UI vne previsions ui uic saiu
ven (77) i-enai et series
'ta pursuance
jllArva. s.ventv.B'
Ta. secured thereby, name!
10
2 107 4 1
ft 107
7(sal 107
1 1074
U K Grt Hrlt
A I'd 103
I
m
- si
SLAai
riHilKT
iv,- i-i
r T-ii'SneSaUlm,
li ' r-.rrjimw.
km
i
20
0
1
AT. 49. BO. Hll. 1U2. ,a0. 102. 217.
841. 24. 253, 21).', 325, 351, 363. 386,
41U. SJI, 1lili l?e, IOI, ,,a.i, UJ1 ,
ty-slx uenas ier une inuusanu ueiiars i
i. 7IO. 723. iHH, Tin. iii.. mn. w'lu. n.i..,
tTt. 070. 1008. 100'J, 1032. 1033, 1063. I
1140 1160. 1100 (Twenty-one bends I
Five Hun Ireil Dollars each).
MT.' 1324, 1330. 1380, 1380, 1413, 1453,
lnZN. IUW. in.iu, i.i. , mill, inn,
1748. 1777. 1820. 1830. 1857. 1878.
1960, 2U71. 2082. 2093, 2003. 2IIV9.
8192 (Thirty bends for Ona Hundred
, phi.
II ameuntln Bte Thlrtv.nlne Thousand
ttunarru wunnrn ,,.i., .,., ww.w viii
4ly drawn, and that said bends will bs
a si par anu nixTi'vu uiir.cai un ills
I June. 1023, hr aald Trustee, at
is, a-a te aai s.nvsinui sirevi
i,iC A W I 74s
102
Chile Cep'r 0s
3 00 41
10 . 004
ft en 4
no 4
1 . eni,
2 . en 4
Chile i Nip r 7s
1 1024
, V V IL.'ili
100 1 .M.
' ",n'1 2 1004
J !!!2 ," ' '
100 41 , nfl
U S M.xlce 4s, , ., ' .
1 . . . . 3S Columbia O A
Alk'tl M cv A, K. '' ' .
1 ,, 1. .. 024
A Cd 51 cv 3,Cen'd Ceal Ce
1 . . S of Md Ss
1 . s (. SRV.
Am Cotten Oil Cuban A S Ss
101
103
103
103
U S Brazil Si
1
.Man Elev'd Is
1.. . (104
1 ... 094
0 014
. no 4
Marl n e 7 4
3. 0S4
Mex Per'm Ss
105 4
1 1054
7(salel 105 4
Mkh Cfl d 4s
11.. . 014
Mid S A Or fts
3 00 4
2 00 4
1 00
Mllw'e Uas 4s
1 . 024
Mln t- S' I. Is
1 104
3 l4
M SlP A S Ste
Marie 64s
10 1024
M K A T aj vv I
37'
ft
5
8
On (Oat)
20
after which data
te bear Interest.
aald bend
SrinOELlTY TRUST COMPANY
William .aval. iciiutai.
21, 1922.
rV
.?.
434
"'
t
t
ONTAH (ONSOI.IDATEI) (IU
I KM i'tl.iii'.. , i.niiviiiH.v ir.u
'.VKAIt I1VK PER CENT (i(H.I)
DH, Dl E JULY I. 1957.
etic Is hereby given, pursuant te ths
la of the 3furtgage dated July 1, 1907.
t."the 'undersigned as trustee win re-
aeaiea proposals up hi a.vu i. un
h day of June. ivn. rer me sais te u
id Above described, sufficient te uss
k of etn.iM..aj. ma unuersignea
is tne riant te reject any or an tenaers,
hole or In part
rtLiW xuniv rivunr vjijii'.v.it,
i;A, Trustee
2T.' . Hy A. V. DOWNINQ, JR..
f Assistunt secretary.
"Vnrli. May 4. 1022.
).-
Amiuil Meetings
r AJUUIICAN ACADKMV OF .MUSIC
Rt". May .1. 1022.
Lairl at th Ac demy. Menduy, Jnnr
U fJTKJ Si ; . i no niinuti
Will- fc prtwntrd and an election
8 S4
2 SO
0 . ss4
Amn 8 A R fts
2 . 01 4
1 . . . 112
1 02
3 . 02
American &ug D'
1 104,
Cuba C'e Sug
Ss sta
SSI
67 4
57 4
67
57
ft
30
00.
1
1
12
25
57 4
57
57
57 4
.574
57 4
87
Cuba Railroad M K A T Bit wl .
w His ft
- 102 u K It-
Ref'K 0s
1.
1
14
1
1
1
1
lOO'i
Kim;
1004
inei;
1004
1004
1004
'i ... leni;
A Tel A lei As
1... 1144
3 . 08 4
10,.. . 084
Amer W P fls
1 . 804
2 804
I) 804
A T A S Fe a
0 83
A T A S Fe 4s
4 .. . 884
I... 8H4
1 .... 884
0... 884
At T A B Fe
Ariz dlv 4 4
ft,
014
102
II 3 4s
. Oil,
e4
R (1 fd
. . 484
. 40
48 4
. 10'.,
. 40 4
. 41)4
.. 404
40
1
10
Den
10
15
1
111
11
10
8
Den A R 4s
1... . 81
D A It G 4 4'
i. . 8".
Det Sdl Ce
2 . 103
1 10.1
D de Nemours
Pndr 74s
1 ..107
Dui Light 0s
I . . K.34
1 '"8 4
Du Light .''.is
1 , 1004
Empire Oas A
Fuel li.
0...J. 084
18
3
1
Ot
Me
1 illl W 1 ,
fl4
T On wl '
004
004
00 4
004 I
P It R 4s '
2. . Oft
"(sale) 0ft
2 (flat) 614
7 (flat) 614
ft . . 0ft
3 (15
3 . . 65
2 . 06
1 . 05',
5. . 054
Me P R R (Is
7 . 10)4
0 . 100 4
27 100 4
15. 101)4
3 . 1004
HI . IO114
Mentr' I Tram
ways 5a
1 . . . . 87 14 I
51 A O St I. A
Carle 4s
12 87
ONE OF TODAY'S INVESTMENT OPPORTUNITIES
San Antonie
Public Service Company
First Mortgage and Rerunding 30-year
5 Geld Bends which we offer at 100
In amounts ef1000 . 500 . 100
Te Yield 6
SAN ANTONIO increased mere
than 65 in population from '
1910 te 1920 and is the largest city in
Texas an important winter resort
and prosperous commercial center.
In the dry and vicinity, the San Antonie
Public Service Company serve the homes
and industries ei about 160,000 people with
electric power and light. The property is man
aged by the American Light and Traction
Company, which has an excellent record ler
efficient, profitableeperation of public utilities.
Bends of This Issue
are a direct lien en property conservatively
valued at mere than twice the par value ei
bends outstanding. Net earnings for the year
ended November 30, 1921, were mere than
three rimes the interest requirements.
These bends are non-callable during the
first ten years and therealter enlyat a premium ,
ranging iron) ICffe in the second ten years te
5 9i in the last ten years.
Through the purchase ei these bends
the investor is assured ei a 6ft income ler
at least ten years. Full details ei the issue
will be sent upon request if you simply mail ,
the memo herewith.
-V h AA I
V """-4 ANTONIO fS
J&Tl
Mail
This Meme
4 ir5 "
halsey. Stuart e Ce.
Ltnd Tills llldg.. Phlla.
Plssss send hill d tails el ths issue described
wuh current hit el selected Public Utility
Bend e Scrims. il copy el leaflet,' TeeTsats
el a Sound Public Uuliry Bead,' l'A-51
Yams
Strut
Ctly
HALSEY, STUART & CO.
INCORPORATED
Land Title Building, Philadelphia - Phene Locust 7410
CHICAGO NBWYORK PHILADELPHIA BOSTON DETROIT . MILWAUKHB ST. LOUIS . MINNEAPOLIS
5,000,006 Krener -
Kingdom of Norway
. Fifty-Year 6 NatienaJ Lean of 1920
Due June 1st, 1970
Coupon bends in denominations of 10,000
Dated June 1st, 1920
Interest payable June 1st and December 1st.
Krener, 5,000 Krener and 1,000 Krener each. (.At.par et exenange, ?,oeu, i
and $268, respectively.) Principal and interest payable in Norway in
Krener, collectible through the eftices of Brown Brethers & Co. Ce.
or Berrihard, Schelle & Ce. in New Yerk.
Net redeemable prier te June 1st, 1930. Cumulative sinking fund beginning en
that date sufficient te redeem entire issue by maturity by redemption by let at par
or by purchase. At any time en or after June 1st, 1930, the lean may be redeemed
as a whole or hi" part or the amount of ,thc sinking' fund may be increased.
Exempt from AH Norwegian Taxes when held by a non-resident of Norway
The following information has been obtained from official and ether sources which we
believe te be reliable:
OhlitTatien These bends arc the direct obligation of the Kingdom of Norway.
s They are part of a total lean of 100,000,000 Krener authorized in
1920 (outstanding at present about 91 ,000,000 krener) te continue the construc
tion' work en the Norwegian railroads, hyclre,-electric developments and the tele
phone and telegraph systems, and for ether purposes.
Debt-T,1e total funded antl floating debt of Norway as of June 30th, 1920,
amounted te $296,986,210, which was equivalent te about $108 per capita.
This compares with a debt of approximately $229 per capita for the United States
en the same date. The greater part of the outstanding funded debt of Norway
was contracted for capital expenditures en railroads, telephones and telegraphs and
ether state property which in normal times yielded substantial profits.
Credit e high credit standing of Norway is indicated by the fact that for
many years preceding the Wcrld War the net cost te the government
of its various leans ranged from 3.10. te 4.11. As far as records show, no
default has ever occurred en a Norwegian National Government lean. As com
pared with its debt outstanding as of June 30th, 1920, thci government owned
state property valued at approximately $201,000,000. The major part of this prop
erty is revenue producing and includes about 80 of the railway mileage of the
nation, telephbne and telegraph lines and water power developments. As in the
United States, the process of deflation and readjustment te mere normal condi
tions has been going en in Norway for mere than a year. Nete circulation in
the country has been very substantially reduced and the reserve ratios of the
bank of issue materially improved.
Wealth-T,,e wcalth ei Norway was estimated in-1920 at $3,350,000,000. This
amount is equivalent te mere than eleven times the par amount of the
total funded and floating debt of Norway outstanding as of June 30th, 1920. The
nation has large natural resources in its forests, fisheries and available water
power.
Price en. application
t the present rate of exchange of 'about $.185 te the krene, the current yield en the
investment is apprexilately 5. Assuming the return of the rates of Norwegian exchange te
par ($.268 te the krene) the current yield en the investment would be increased te about
.24 and, en the basis of the present quotation for the bends en the Christiania Stock
Exchange, there would be a profit of ever 30 in the principal amount of the investment.
'
Brown Brethers & Ce. temporary receipts will be delivered against payment in New Yerk
.funds. Temporary receipts will be exchanged for actual bends when, as and if received by us.
Brown Brethers & Ce.
4th and Chestnut Sts., Phila.
Bernhard, Schelle & Ce.
14 Wall Street, New Yerk
Whll
reliable,
no responsibility Is nssumed, Information Is taken from sources vvhlrh we believe te be
All conversions of krener In ttils advertisement have been made at par of exchange.
SjsssSSgBSaHBBBlSBBBBpBBSgflBMia
A Guide te
Investment Selection
Our monthly booklet, Investment Recom
mendations, serves many investors Nas a
guide te the purchase of investigated securities.
i
It contains a diversified list of securities, includ-,
ing government, municipal, and railroad long
V term issues, short-term securities, and ether
recommended bend offerings of attractive yield.
Each month a mortgage map, in color, of one
of the great American railroad systems, is bound
in with the booklet.
Upen request, we shall be glad te send you the
current issue of Investment Recommendations.
Guaranty Company of New Yerk
Main Office:
Guaranty Trust Company
Building
MO Broadway, New Yerk
421 Chestnut Street
Philadelphia
I' - '-J
u 'I
s.
Wnnfefl An esperlemed unalys
vat
rurllles
te direct the Industrie Division
if Hie pitallstlml Department of
H large New Yerk City Institu
tion, llex 10, Deremus & Ce., 44
llraad Street, New Tark City.
gjU" titss; JJtUjjjxiis,
HAULING
On Yearly Contract
f!mVf,,&,'eV!Sie,reii
ssxi ""uB 4,1: p"a,",.,Is'Jifrrte-
Clev., Akren & Columbus 5s, 1927
New Brunswick Southern 3s, 19"
General Gas & Elec. Ss, 1929
Arthur C. Richards & Ce
rrivute Telephone te Vete Yerk j
.WlVf 4Uirfirai e wr tur me
8..
,. nin
I
urexcl JJutidiiur
i
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