5KS?fl . V . if-" IWiJfi mKmfW-HpmM ! fiVBNlSia PUBLIC LfeDGfiB-MfrfPEfeHtArPKDAY MAYvr10 WB. . m CtJi. Jt VZ". ?ft av V ' fX. Hrf '! l ..vy ISS sT.i. '.'' r 4 ffw L Wlrl I2T n if'- "- ji-u myj i'tv g m ehitVSI RVkSH? &fe9i7?& V?Lv B is i ; : i ..! l . I ,. ,., . ., ,.,. , .I, , . . . !. ,, . . . .- I Nen-Callable Bends GREATER WINNIPEG WATER DISTRICT f 30-Year 5 Geld Bends. Due May 1,1952 '' l NOT CALLABLE BEFORE MATURITY PRICE 98'. AND INT. TO YIELD AIOUT 5.10 GOVERNMENT OF THE DOMINION OF CANADA " 30-Year 5 Geld Bonde. Due May 1, 1952 NOT CALLABLE BEFORE MAY 1, 1942 PRICE 100 AND INT. YIELD 5 Mackie, Creuse Ce. Real Estate Trust Building, Philadelphia, Pa. Laying the Cornerstone Service is the cornerstono nreund which business success is built. We arc therefore always en the lookout for new ways te serve our clients in nil matters pertaining te REAL ESTATE and MORTGAGES. Te prospective buyers of cen tral properties we offer a few choice locations suitable for any business. Wc invite interviews. NEW YORK BONDS JAMES D. WINCHELL Every Phase of Real Estate Service lTth & Sansom Sis. Tflophenf, Spruw 11B3 4 11(11 Philadelphia Arc lup'e 0'i 1 8.1i 2 80 Area np'e le.... iem a.... ieii 3.... iem 10.... 101H e.... iem 10(ale)lem s.... iem 1.... 101H C... 101H City Deme ti 5.... 113H City Bird'x 0i 3 87V4 2 8TH City Lyen. M 3 87H 4. . . 9"i City Mnrs'n (1 4 .. . R7 4 2 S7 Cty Hlo de J J ncrle Ss nl 2 ... I03N a.... ie.i 1.... 103H 1 ... 103H il. 1 tSAI.KS IN J1000 Atch TMV Ariz dlv 4'4 P O0H A T ft S IV 4t 1... 8SVi Atlantic Iters ct Ottl 2.. .. 81V Halt ft OMs cv 3... . mi; 10 (ule8tU 2.... 108V, 3 82 2 . .. 82 It ft Ohie (1. 1 iW 1 I'OS fl .... U0 Halt ft Ohie a W'n 3m i. . 004 Dim l'dl u'e 6 l... . us II Hay Iran 7a 7... . 87'4 8 87', 6 .... X''i 1 . . 8S U llap T CI 7 in sn I34 Hkn Hap Trail 103 V T ta MU 83 S 83 V, n In 13. 1. ltud 1 Ma S 02T4 lilt! Ctil'l nVii 5.... 1014 1.... 102 tnt'u Mat 4 Ha 7 18 S 18 tnt M ct 4ii 10, 1 20 10 Inlb'e n. IS 10 10 10 T fd 78' 73 4 78 73 4 734 73 4 n ie3u 10 S2 Cty Pae I'aute Can.i (Jen Klec Si wl os wi r..... 101'4i 4 . 10.- Lzn.nMevK R-i-rklrc MV ' vr VIU (Up or Down? Ttys average of twenty Industrial Stocks has new risen 25 points town the low of 1921. The aver age of twenty rails is new up ID 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 Ralls. Repert en Request TMs Barometer Letter and Booklet Gtttmg tht Most Frem Your Menty" ii available for distribution te inter ested investors, gratis. TMr out the Meme note and hand it te your secretary when you dictate the morning's mail. ........ IY1 , IY1 U Fer Your Secretary Write Reger W. Babson. president of Babson's Statistical OrKanlratien, Wellealey Hills. 82, Mass., as follews: Pleaae send m Bulletin 34EK ifST" aK3Kai- nd booklet "Gttting tht Most from Your Menty" gratis. ISEO 3 a f3Y have Neu) I cue Federal Land Bank 4Vz Bends nntnl stny 1. 10J2 Due 5Iay 1. lOtU et rrdremable before May 1. 1932 Jnfrejt parable May 1 and Novem- r 1 ny rderal Iind Bank or I-ederal llrrve llanlc. S?Ur .I";1 "slatered Kind. (Inter- Sib nFn bI?L Jj? 'nominations of JIO.000. IS.00O. 11,000, $000. J100 and J40. The Supreme Court of the United States ha. held thesa Banks wera 'J'"? created aa part of the banklnc system of tha United Stntea, and that i?C ,bend '"ed by these Banks ate instrumental Itlea of the V. S. Covern. ment, and are exempt im ,Fdr"'. State. Mu nlclpal, and local taxation. Price 100 and interest, te yield 4 EDWARD L0WBER STOKES & CO. 20 Seuth 15th St. Philadelphia LOCUST 0315 r... l... in. . s... r... Interl Cement Unrp'n S 2.... 110 I M Mirlnn fla 2 084 2 084 2..., PSU Int'l Pap b R 1 .... 83'. Invlnclble ull Cerp 8s 1 9BU teuu. Cnt'l 4s 10241 10 47M. Canadl'n Nthnjjullus Kayser 04a rets ft Ce 7a reta 2... 112 2.... 1044 Cana'n Pae Jt Kan U lrt 3 ft 7 ... 70 U I Memp ls 2 . 704 1 .... 70 10 . 704 Kan C A 8 3 1 73lii 1 69 Hep' a Sa wl 10 97V 2.V.. . 07V 2 91V City Zurich 8i I.... 101'j Dept Seine 7 10 mu 10.. .. flintOm I of Cln criKily Sprlns'd 3. . 044 1 07V Tire 8a 1.. .. P4'ilCere ri ras'e' 1 ... 109 1... . 0441 Cep' r 8s ... J0Si D Canada '20 1 2.... lift',,!. & Slier 7 4. . 100". C ft O cv 44" .1 114 1 ioe'. il, 1.. R7 4,LenB Hi R fd Penna n It G 1 00 1 00 1 034 Pena !Vd rt4 0.... 109 1.... 109H 2... 109 2.... 109U Penna n II 7. 1.... 10SS Peoria ft 1J In 2 30 2 HO Fere Marat s 1 90 PIUU Cnty fd 3 08 2 08 Pill! a, Hlys 4s 1 M l'lerce Oil 8s 2. .. 101 Pertl'd Hwy ft i Tts "12 2 00'i n se Pre A ItnODer irar as 1.... 108 Heading Ce 4 2 844 R 814 2 814 Reading C Jsy Ct'l Cel 4 a 4 .... 87 Hep'e U S Si 1 00'. Hlo Grande ft W'n clt 4a 2 674 Reek ll'd A ft Lmil'a 4 4b 4 t2 i St I. 1 Ml 9 1 11 & O dlv tn'Seuth f. Nertli B 82S A Ss '03 st i. ft s r hj 1.... 004 C 814 Se'n Pacide til ! .. 814 3 875, 3 81 1 S7. St I Bew'n Bs 1 814 Seab'd A Ii n.) B 2B4 1 2S4 B .. 2S4 Meab'd A I. fd B 42 2 424 Seab'd A li tl 1 87S 3 B8 .1 BS 10 BS 3 r.74 0.. .. B84 Sh Nlrcl II 8 4 00 4 7 094 Sinclair C Oil Cerp 7s rcta 1.... 100 17.... 100 3.... 10O 0.... 100 7(s.ile) 100 11.... 100 11... 10O S(adJe) 100 fl.... 100 11 ... 100 10 100 Sinclair C Oil Cerp 74s 10. .. I04&, 1.... 1044 1.. . 104 10. . J04 1 .. 104a, B ... 1041. Slnrlnlr Crude Oil P Ce 3411 li' ... 09 1 00 0 .... 110 1 00 00K (It em 02 024 024 12 K 02 63 2H B2W G2fc Ij A 1007. C'k ft O cv As 0... . 7R. 10.. . ioe 1- 91 L IM R en Bs 7MleI00 Chi ft Alt 3'., 1 ), 1.. . 101 8 4Si 1. . . 03 D Canada 31 Chi H ft Q k-mil. ft Nnh B4 3 0341 2 8 2 ... 1024 Dn Can 52 wlChl U ft O .ls 1. .. 103 100 2.. . 100 Dutch i: lnd'a ret '47 1 .... OH'; 2 Ofl'i 4 lid 1 PU4 Dutch K Ind's rcta 'U2 .1 . .00 2.. 0.1 4 7 tiale) OR 4 1 l0at)PS 3 (llit0i) 0 . P1I4 2 00 1 ... 0iH4 .' . .. 00 Gee t Krtnctl U 7 4s rctn 1 ... 10141 t 1014 1 .. 1014 2 .. J014 1 . . lie 7siUflliO., t (flat)10l4 25 (flatMOl Gn't r n i 1 11 I 3 . . . 104 il.... 114 It ... 1"4 13.. . 104 . i' 1.0 ft Naali 7a . OS 4 4(sale) 107 . fs lO(sale) 107 . n 1.... 103 . t'SS'Manatl 3uar Q ", Ce 7Ha wl JO'-M 1 ... 100 10.'i MOU war'd 8a ",, 8.... 104 4 1"''V 8 .. 1044 lOBSlMIn ft St I. 4a 10S 0 47 )n-1v'i 4 ... 47 l'1"'1 M ft MI. M r. 1':' 4. ... (9 lnA' M Htl ft H Ste '"1,4 Maria 04s . :. . in.-. ,1 . joej; ft A char .-, M , . T nJ . 1... 3... 4. .. C D i T.. 7... e i.!.. 3 .. 1:1 .., 2. . , 1 20.. . 4 .... 81 1 hi 1 81 st r. ft s r in 2.v. n... . os 25.. 118 1. r. 8 0S St I. ft S Trail Series A ' "S 3 72 10.... 724 St L ft s Kran firlta U I Sen Pacific I 8 824 S'n I'ue cv 4b 01 01 Se 11 Pacific .1 1 1034 6 0 10 6 B IS B(safe) 1 0 20 II B 10 Telcd St West'n 4s 2 084 Union Pae cv 1 04 Union Pae 4s 1 01 2 01H Union Pae lis 1.... 103 U Tank C 7s 1.... 103 7.... 103 U 8 Realty ft Impv't Bs 2 0.M4 U H Hubb'r 5a 2 .... 89 3 80 2 80 80 89 4 8'I4 80 80 '1 1. 1. 7. B. 1. 1. B. U'.l S Steel Bi 101 8.. n.. 1.. 1.. n . IB.. 8 . 1111 1014 101 ml 1014 1014 mm Utah 1 ft I. Bs 2 .... 124 1 02 Vn-C Chin lt 3 084 Va-C Ch 7 4s 1 . . . . 00 Va Rly Ce 5 tf. 05. 1.. .. 87 Sn nnll'i' tl'js 1 87 41 11 OOi. B.. 87 I 2... . 1191, St J 4. H Hran Stniid'il OIL of Perlea C j Calif 7n 1 . . Ol'i 2 ... 100 I Si I. ft p Pranl 2. . . . iem. S'n Railway 4 ff"l' Sid is 1 074 2 10 7 07 4 We" n Tac lats 7 074 8 07 3n Hallv.iv 5 8... . OB 4 1 .... 05' '1 a v. I 0 s- C ft L' I Bs 51 ,0 Chl ft O W I. - I. . 124' 0 . Chl MM ft Vu j0 Sound 4s 3' ' ,. ' . '.J M K ft 'i nicace :. a " I St P d U in I 5 ... 04 ., Chlcace Mil ft ,n ' " - M K ft T 0, wl 1 B ""0 , i nrtV. -"i.u J." 1 IilU. Bfli, ... BC4 . BUS ft T 4s . . 8t4 . 814 .. 81 SI bs nl 83 4 834 83 834 St L 1 . I.ihert.v Llbi'rtv UbiTiy Liberty 1 1.... 100 054 ste"l Tur i'i UB.4I of Am' a 7 05 I 5 1014 1st Third Ae aj 7S .T..! ... '-M 4i lid 4 'is Liberty 4th 4 Us Vie Note 4", COi r,e HlRll , 10.40 , tlll.M) , 00.0 J , OO.St , 00.1U ,100.00 1 ST'i V Union il 4 s 0 ... 1104 B ... 1104 Westlnelii'e E ft MfB 7b 10.... 107 4 . . 1074 4.. . 107 W ft L I'. 44 t 18 Wilsen Ce cv .'. ... 914 Wilsen Ce lets 1.. . 09 Wilsen C 7 4s in Lew oe.:u 00 e 00.00 00 M 00.00 ion 1004 10 1 r.e r. m. oe.:;o party in his uniallr frank and con vincing manner with the stockholders. He told them the company will prob ably show a less from operation during the first quarter of the current year of between $400,000 and $500,000. This Iers, however, he informed them, was nbeut one-third less than that reported for the similar period In 1021, when the delicti vqh about $700,000. lie ieki them the cRrly months usually are tin profitable, owing te the nnture of the company's business, and normally, this less. ranges nreund $200,000 te $225, 000 for the first three months of the year. In April he paid, the manufactur ing department picked up some, but this turn has been Interfered with by a strike, which still continues at the Perth Ambey plant, it being Impossible te fill orders that have corae in. "The dcinnnd for products," he ro re mnrked, "has been increasing from week te week since early in April, and It is hoped the strlke may be seen settled. There arc few of the corpora tion heads who take the stockholders mere freely Inte their confidence, thnn Mr. Scwall. He is the sunshine of the meeting always. Bankers' Convention Program Among the Phlladclphlans who will spenk at the I'ennnylvHiiin Henkers' As sociation convention In Pittsburgh are Geerge W. Norris, governor of the Fed eral Reserve Hank of Philadelphia: B. P. Passmore, president of the Bank of North America, and .T. William Hardt. vice president of the Franklin National Bank. List of sneakers for Wednesday. May 24, comprises tln following : Alexnndcr Dunbur. president of the association ; Jehn W. Chnlfent, Jehn O. Heading, ( F. Zimmerman. E. B. Hiirshaw, K. I. Passmore. Clark Hammend, J. A. Price. O. A. Swendncr, Leuis T. Mr Futlden, Jehn D. Meyer, J. William Hardt nnd Gperge C. Watt. Speakers for Thursday, May 25: Governer Norris, of Philadelphia He serve Bank, who will speak en "Trust Companies of rennsylvnnia nna tne Federal Reserve System." and Hen. J. J. Miller, president Judge Orphans' Court. Allegheny County, who will dis cuss "Relations of Trust Companies as Fiduciaries With the Courts." On Friday, the lest day of the con vention, addresses will be made by Governer Harding, of the Federal Re serve Beard; Hen. leuis T. McFnd ilrn, chairman of the Committee en Banking and Currency, Heuse of Representative.; Comptroller I. R. CrlsMnger, State Bankfnit Commission er Jehn S. Fisher mid Themas B. Mc Adams, president of the American Bankers' Association 00.04 00.S4 00.02 100..-1O loe.ns Bear Crowd Shelng Mere Courage The speculative situation in the stock market was rolled en yesterday ti stand further desertion from the bull ranks nnd last night nearly nil thu nrofew slenal speculative element wag bearish be'.Ml'n market opinions and looked for fur- .. .. 1 ! flirts KAjiALelrtna I r tint nnf iin ufjfli WE OWN AND OFFER Mehswk and Malene lit 4, 1991 Tax exempt in Peen. Terente, Hamilton & Buffalo lit 4, 1946 N. Y. Connecting R. R. lit 4i, 19S3 Guaranteed by Penna. R. R. and N. Y., N. H. & H. R. R. All rated AAA by Meedy WIOCNIR BlDO. PHIUkDClPHIA Mrmirrj AWM and Stut lev Sleck xcMirtt IKWrOHt fUZAStTH. M.J. WE WILL BUY Philadelphia Trust Ce. Girard Trust Cbmpany Union Pass. Railway 13th and 15th Streets Pass. WE WILL SELL Aldine Trust Company United N. J. R. R. & Canal Continental Pass. Railway West Phila. Pass. Railway MORLEY, WOOD & CO. 433 Chestnut Street Member ". 1. 4 I'hllu. Meck Kxrh'K. American Railroad Bends for Investment One hundred and twenty three railroads report a net operating income for March of $61,678,000, compared with only $18,563,800 a year age, or an increase of 232..J7c These railroads represent a total mileage of about 150,000 miles. Our selected !(. of opportune railroad investments en rrquist Hemphill, Noyes C& Ce. Membf Nw Yerk Stock Ezchmnte Franklin Bk. Bldg., Philadelphia Hew Yerk Ectlea Scrsntea Albaey Syracuse n-lljTf)ft S ... 103", 1 X cv 2, Or'd Trunk of, " Jj ' Cn (Is rets , 1 ' "; ? : 4 Jae Goen't 4i ,' ' '..'.. .1 TUN 'Jllt'Illr', M-l K nrUium C..I ' ' '! 1 .. 101 1R :j. 00 H P8'i Me P II H 4 1 fl.", 1. ll'm rets' ' ,"' a- uiv."it,u .tin ii fifflM IfiTl! IjI3 KliiE'lem Hnn- mark ct fit 1 OS I os 1 :: 1 ?si s . 0 I ' (taly 1 1 ... OS Kir.Ktl'ttii Ken- mark wt vn ' S . . 111'jl . . 111 1. . ill T (Melll K of Nether lands ct f.s 4 . . . Oil in . .. !"!' nicaffi, .iu & ,, Ft P CV fs I , 1 75 I 4 .... 74 4 .. . 73 C A Nwn im 2. I0 Chl & N- I 10 4. 1. Chl lis') 107T 1 t, 10S41 S2 04' . . 044 . .. CI1 . .. IU'd . 4i-j . 04 , .. 04 Va ... 01 . . 01 n n os 10014 .. iceii . 100 , . 100 . ine . 110 .. 110 . . . hi .. 1001, 1001, 100 GOSSIP OF THE STREET tucr recessions in the active steckH, Seino of tlic operators, who Lave been ojrgreMtively bullish for n lenif period, insisted tlu market hud Rene te a high metigli level te come te n halt, and they asserted while trading ban been iiu progress after a long continued ml I vance, ruer.y eut'-lde interests have I leaded up with steeks te n degree that ical'H for limildutien bpfere the situa tion, in their onlnlen. can asaln be re- ti,, 1. ., .1.-. .i, ,i.nn.J?n.rjNi .ns r"1'1 n"'1 favorable for bull- ,"-, ' v.u... i.iu.ii.ru 1... i ...v. v. -. 1 lgn nctivities. $2 te be piveii en Thursday by the mcin- ' her.s of tin L'liiladxlphln Stock Ex- ' change te Seymour T.. C'remwrll, ptesl- dent of the NVw Yerk Stock Kxehangc, I will prove a banner event in the hN- I tery of the local exchange. The affair I has been In the hands of the lle wiies, I or younger element, of the local iustl- ' ti,(ien. Frank ('. Matthews, the choir- I man and his lmsllir.g committee hnv , 1 left no stones unturned te make the event a howling success. The havcr h j been digging around for prominent ;.ii", mmer '.'.'. '.'. speakers, and tlioe selected will keep ' MaeNamar.i '". . . j the little party te be held Iti thu Re.-c 1 j,r,";n.1 ; ilinnleii of the Ilellevue-Stratferd eiiMi?pah Extension tlltlr tints fi'iun the tlnrt In the finish i Mnntftlll .Mirwi pmr Ilescut Kiila Thes-e operators had a geed deal te say nbeut stocks that have been over bought, and In which the public hed no knowledge, but hits taken ou large lines pimply because they had been made active nnd 6treng In the recent past. THE TItADEK. LOCAL MINING STOCKS TOXOPAH STOCKS Hid Xev. Or 1-x t a I MflTlrii r.u . . . 1 f !... .!!..,... 'PI... . -, 1-.. ..l. I., J.. . IV.i'j "i ne- uiuut'i . lie I'leiituii ai-.'! jii- 1 .. . no 1, sures the ilisciisi)n nf a wide divcr.-lty X Y Ct'l n 4r , of -ubircts. ! 0'1 (.eiiri'e Vrttrl i-ntiirnnr i-,f llie Toneprtli Kxtenslen Wet i:nl West Tungpah C P. I & 1' fd 1 C 1 ! in. m : '- ; I May ct ss ""i " ' - '" I l'Ial Ueserve Uunk of I'hllndclphia. I "'V 1 1 fri..tuit cm TrllautN.-v'; ,,.,' wnl net n tetistinasti-r. Mellmurne '. ' !'"' '',','Je Tffaieuu t-,sui3... 4 'w. . Middletim. prwidentef the lMilladelphla iiie!?ner .' ... K .sucuen (is '' ',. , ' 1 . i.m4 Stock lAchange. will delier the address ' J"-!' n-r i:.t ... . s :; ij?.a8"",o0V,n,,en' :;! "f ..-e t0 th,; Su,.sts of .he c.cni.,B.!Bir::i.,,iUv;!:..n l ,;,,' 1. m ' Y'- '" "'' ( remwell ha.- already, en dlf- mmje Cen 3 ,:,,; cm t w r 4, -; f't , ferent occasions, spoken In a me-t con- ! i,lv'.'1"In'!, , 1 if'i U.', ,"; T4,',' 1 ' ' i'.v! ' ' I'i-'Iiik fashion rcgaidlng the opciatiens liarmiii' . . : . '. Paris. I.ien, .t" "'' lPI ." t ' er.sl 'of llie stie k ech'lli!ie. his iltscotir.-e is . Knox . 0 "I " L.' N T Cr'n- 1 M.llkelv le tireve lint eiilv lnterestlriir lint "."X"'' .Klnc .. ?- -.... .- r, ..,.. " I'll -? .1 . . 101 " .0.1 .en en .12 .(") .O'l .us .11:1 ll IS .IU DIVIDE STOCKS fnmiiiiimiiiiiimminmitmiHiiimii -R.A.M.& Ces- Georgia Ry.&PowerCe. We have active market orders in the Weeds and Stocks of this Company, and iceuld suggest that you communicate icith us be tore executing orders te buy or sell. Reed A. Morgan & Ce. West villi Trujt HUl'j., rhila Members of the Plilln Stock Utch. ' N Telephone Spruce 2131 !iISAAC STARR, JR., & CO. United States Government Securities bought and sold t prevailing market prices. ft Sansom Sts., Philadelphia rv i' t NEW 3S- -PAGE BOOK en TRADING PROCEDURE Most comprehensive of its kind for the man in terested in New Yerk Curb Exchange Stocks. Until you have read this important book, you cannot appreciate the extent of the useful information it con tains. Copy en request no charge CALL. 'PHONg OR WRITE Jenes &. Baker Members HcwYerk Curb Market Direct Private Wlrrs N-wYerlc Chicate Doiten l't!lid)ni; Fuubutfh Detroit Riltimerc Clevclird PHILADELPHIA OFFICE Wiucncr Buildinr; Telcr-henes nell Lnruit 4730 Keystone Rice 58G1 BALTIMORE OFHCE 433 Equitable Building Tuephene PUza8451 IS 12 S3 v3'i S3 : . S2'i 2 S3 Q'jix-ni I ii vi 4 . 102'; Que'ni"! a r.xt I.en ?h 3 . !10; 2 I104 I'.-P Cl.i.e 20 1 njiv rter ciuif 1 ' 1 ie.-, 2 l'i3 II 0 Cuba 4't, T T74 rtep'c of 1 ru tnisy m 1 1 . 100 Se Pertu It S I. 1 . . 1... '.'hlW ( 1 . . 'J N' T 1 . . liOH . . t'O , . 001, -e r ; 102 ll.js lit . 102i O Tab A h !i ... ea'i Cetis'd Gs ?. 0 110'i Cern Pre Ke s Ce Ss '34 a ... en 1 1 ... 100 Cuban A S 6 . . 114S, Cuba ruilreirl S . l"l't il Mi", V Ont 1 7si .' .. leT '.' .. 1"7 1 .. 107 N V KJIs 11 f'e il'-iH ret. 110 M. 110 1 nllL'liteiilnir. lien. Krnnl; It. U'iMU rnitci rstates Senater item Ohie, has , ills.) the reputni Inn of being a fori'ihle nilkrr. Kiifcne Jlfnt, .lr., rlnilrmnn 'of tin- War riniiiii'c rorieration, is Iikelj te Impart sonie veiy valunble in 1 foiinatien. Fraitii'- T. 'IVfft-. Rovrtner of tin.- .Vew Yeik Stock ExclniiKe, uii'l 1 Lafajotte 'J'oinple, of llaltimore, are ' aite among the sprukrp. .00'- .01 .01 .114 .in .0.' .02 .IHI'7 .11 .03 .73 .0'.' 01 .11 (iOI.DFIlII.n STOCKS Hncth 02 I'enib Traction nl I'niikrjHrK .ii.l Iilanienin-M illue Hull KlllIlMir 1 . 2J i.ii!3fltlil I'un 07 TnllOLlll Dllllli. Tonopah ll.iMireuik V ciery lhlrl ... . Vcnl Ulld SVjr,.? N Yk Light h' ,Werl;l"S oiii'raetl.'ally nith Cliaiiinan '""idn-irneVi, 0- i I'nr 11 l.iluttheivs en the illnner ouinniltteu nre.tirmt u.n.i ..'".'.'.'.'..;'. ' " , in I,nnntl I !.'l.LI..M .1. !. ..,... I'......!... ... New Y H 4s '57 1 Jumbii l;xtnrlen Ce Del 1 Del 7 rets 2 . . r.e', fi.. . C'l'j State or n 1. e D'j Sel S 1 102H 1 . 1 "2 ', Statn of M 1 r iii' c .'.... IM i 1.. 1M' L' It ,rt .. . t !': 1022 10SV, t' K f.rt llrlt & IM 1021 31 ... tS 1 . . 11 1 10S'4 11 (STH'S', ' .. !'", I. 1"S' t; K (irt Urn 7Vs . .. 103, t Hurt cv 00W !: Uul m .1 luO V-n i. r. U H 3 . . . 4 SI a n tsu Din 4 It r. . 7S, I . . 7s d & n e 4, II . . S3', bet ld! 0s 44, 1 .. . 03', (I, Nnii,u ,, Pr il t 1 ion 0 (ia!e)10rt', 2 . . 107 f .. 107 . 107 7 (nl))107 7 107i; 'Implrx Has i I'u'l 71'js 12 . .. 1SS .1 r. S3 ' rcnr.ell t . Kir : brnle. reccnrlv iOwi : 11 . ..... t ..1... . ..t ... . ' . I r.'i'it'i.iit ii... ,.'iiTinii. i.mi.in.i ... HlltrhiT. Jr.. Iinrtleii S. (':irri".'in niii-liri l'rank I.. NVu-liiirirpr. 1 " "U'e .11A .0.' .112 .011, .V Y 1 nt hs lleily MISCEIAANEiU'S (n 0.1 mi 2.1 e;, ej 21 HO', Nw Yk i W 4 .- 1 . . . .12 N Y Te'i'e ', 2 .. 03 , N V T'lc. 'l .1 . 10.1 2 . HI.1 .1 . 101 1 . 111, 7ial) li(, 1 . . 10.1 N Tk W 1! ti )n. I Hest 4H A I'd 1017 r,1,' .. . V. " l" ' P.U n IflOli I.Tl"? JIJl Islf'li . " .1 ,,.: .1. ... 54 1, " ; Mh 0.wl.H8UCrt-"llcvA I,5I1T'' , ,e,. Krie II II cv II -N I'cifle H 3s 1 40" , 3 2 . .. trn, -s Pirlfle It is llrle It II iv I'! j- 1 . nni, " seu 57 "'""" iMUer l'i.k Newynh,! Hew Soen We mrect Hurt'j cs Twenty-ene jeurs no yrneplav the (Ampsre 2 . . .3 mnrkpt pnmmnnlfv lnyiil iin ihn llmt - ' Ar'10.'"1. UnitsJ rtys it 4 'iith and went te their rispcctivi homes .I'aniluiaria. ' ..'. 1, N In f, tA,,rfi(l t.l,i,A rf tntml Tl I....I . Kilen . . 1 ,Vnet, lnre the lllaek I'am'c. h.-eti sn'rh ; i'ka Creu, n Y,. rt r,i " convulsion in tee innrKft werhi. I he ; uurn.. .1 it i-ernrr In Northern I'afitic wnt that ' juVih ,- 14 1 ste-K up 10 isiuuu n snare, wlille rhu Mether 1.01 IWK H1SIO l'psf Of i he ni Mid KiiPW v 11111 inc niernnv would i w jpi .Minim; irinL' forth, nit hniiifh thprp 1.11 h...r.. , w-aiie aiinouneomont of a oemproniUi' or annt. silrp lietwrpii thf giants of W'n'l Stri'Pi. Speakltns of that inrinnrabl,1 iM'iit a nm. -. . -. senior member of etn; preinitiPin bink- , TUn bAn rUn rtrrtn heuse yesteruay remtirkM : A si: ,0.1 .in .it .11 .11 .07 12 .01 .is I'a .01', .03 Dl lit ."J .III oil IS ,na 11.1 01 I I or, "I 01 .70 01 .OJ .0.' lii 01 0.1 m .25 .Oil 1 i.l Ot HI IM .m n't m e.-, in 71'3 -luT '!' '' S'.vw .. r.,.,1., ..tun- im; . leuitT 1114 . of stviirltles imtp irumblinK like .vt-vada. hmis leierliifil heuse of canln. Ne eiH' c.'.'i ,U"J"' UTilt" I'ars IVIlbrr' .11 .12 .111 .24 .02 .OS 44 .07 .OJ I no .10 ,ii Te 03 2i e 3 in "A hlnek rlnv in thp histrtfi nf tlm ' uterk mtirket ii of api today. Twentv. one j ears is net a Kreai period of time, but short memories of the specula tive fraternity are demonstrated b the fact that the anniversary in question is i nenrly forgeiten th.it u is net ipu casually referred te in the morning's grist of gossip. The t raged; through which the wnr'd has passed since thnt epochal time is being gradual!; furgol furgel ten, tee. Twenty-one M'nr1- hence I wonder hew man; will give prc-ent-day affair-, a pribsing theuglit utVi a uiium P. ervwe I . i ik. sm.iiA.ti.l.i. vr wmrmeTTm w w iniimriniiii, .irw ' Yrk and (hlcire Stock K'rrlisnKfB ,y.i vn- vv Cotten Fi'liirr( y STOCKS & BONDS ;i bought und sold for ca&h or .fsrricu uii cuiinui vunvu iniii (jin. MIlTiT Court Hide.. 14iH M n nut ht. Hj? N. V Ill nreaUHii- iiiiiiiiiiiiiiiiiiiitiiiiiiiiiiHiitiiiiini,,,, 10.M, 2 . 102', U 3 Drall dk i iri.i tun t . . .'.0 3 801 U K .MK . . Hrli. 11 1st in ,,''"',nc , ' k. -; .'. 1 0 1 I 1 01 1 1 Al ItubT si l-'lsk Hub r ' Call,V' l tisu, 1 legislation te remove tux exemption' nsen s i. u , from future bend i'sui took ipnte a Ml 1011 1 w imp. rr i ell ree. & . tlr HHllta strrurtttca Clans Bullitim. ptrtU. rtcan vjas ec ciec. 'r m n t 1 x fxeitxtea Wilkei-Birr Gsi & Electric. ..S's 19S5 Terre Hsule, Indpli. & Esit S't 1945 Wtltbich Cenpinr Cell S'i 1930 Seutbern Railway Ce. Equip.. .S's 1930 PeuDijIrsnis Cempinj . . . . , . ,4's 1931 Seuth Stere Gas & Electric... ,5' 1933 American Pipe & Coeit. Stcnr. Sleck SAMUEL K. PHILLIPS & CO. Mfiiilr- rhllmlflplila fcteik KtiIhiup '.'17 I'lll'.STVI'T HTUId-r .... . .... ... . .,-.,.., n I MEWBURGER, HENDERSON & LOEB Htmktri Ntw Ymrk mmd i m;i, sm i li'j', I lO-.'i.j l 1 . 102, ' v ,r'" An . Xs-r'e A rrnm'ri lntu-i Cheni ss , I-v ""i " 2 01' I 1r),i Ann Airr-! S. .' !i1 t hm 7SH a . WiH 1 103'. 'i 001,1 1 103' 0"iMM-ar T & Amn 8 L It rm rtiib'r '31 Tax-Kxenipt Ilends Ma; ISrrmne Srarre In their mnntlil; bend letter. Har rison. Smith it Ce. pa; the meMMiieiit im tin u'lesniirr n n 1 . 0St, 1 .. 02 S Amnricrfn Suj Ilsf C 4 . . 100, 2 100, 1 101)1, " . 100H .1 Hl04 2 eni4 7 (Millien'; a 100 I I 1104 1 . 100', 2 100 Amn T T dl 1 mu Amr XV l il 1... . TH t (sals) 88 AUll T U ir 102', 7(al) 102', 1. .. 103 .1. .. 1031J 1 . lOSti 2 . 101S 2 .. 103, S imi, 3 1il.1i. 1 103', Cioefiymr T A Itub'r 'II 1 .110 1 lilt'. ft . op, O'fti' ) S Lin 1,'ijar'i ,1b a iei u Or-YV It n Ce 2 . M, 1 SI , 1 . SI'-, fi 7. . Mi 0. . mi, Pae O ft K .li i : en, ' .1 .. (11 Tac Timer 3s t 70 I'a, I0e Tel 4 'IV! fin h 1 01', 1.1 . 01 III U Mlin U riW,I''i''k,lr,a ''J0101, i fn, i .1 ti'i", I l""1! 1 !inij,,P ltd cm 4Hs ft.. .. en", I ... 00 step mrwnru in i uiigin, u weeu age when the Heuse Vun and Means Com Cem Com mlttee ordered a faxeralile report en tlie se-called "Green Iti-solntien." TIiIh resolution proposes te give the I'ederul fleierninciit the right te tax- income from securities issued, after ratification of the amendment, by or order the sii, 'authority of uny State. The same power is given te tne niaies as reganis leij. era securities. "Tax-exempt issues, thp larger part of which being se-colled municipal bendN, have, of course, during the Inst j ear enjoyed quite their share of the rise in prlee of nil bendi. Wi de net believe, however, that this ne has by any meau iiceuiied fuiui,. develeji menu and leek In sre in ti iiici pn 1 bend-) in ilic next few ;ears selling m H,,. Htantlnlly higher prices pariicuiailv If thin proposed constitutional auiendiiient in passed tiini we leci mc irebablllllCM arc that it will be." Committee of Lawyers Sign Paper Indorsing the Senater Yerk Count '& bar is the latc.u te come forward with a unanimous in-dei-fement of Sennter I'epper its a can didate for the Itppublicau hcnulerln nomination. The Indersement was signed by tin following committee of lawyers: Itlehnril 1- Cochran, ,1. K, Van Due vor. ,S. (' Trey, (Jeorge ,S, Schmldi, Jniiies (!. tllassner. Itebert C. Illnlr, 11. Philip Stair. Jehn I.. Heuse, Geerge Iln; Knlii. lliiben S. Spangler, K. It. Williamson, Llmer S. Welsh, Geerge V. Kllfi". Charles Itelder. S. U. Welseu Welseu helder. Chutles A May. .1. 1. Mnusfde Samuel K MeCall. W. II. Kiiru. 11 W. MrCull, .1. Kdward Small and W .1. II. Stewart. 2. .. DO'i Helland-Am' n Lin 6a 4 J J'ttf 00 oeu 0 Asphalt Duslnetis I'icklnc Up Arthur Wv Bwiil, president of the Four Arrested for Selling Stock of "Salted" Operation New Verh. May 10. Jehn Wilsen, New Yerk police detective, ;n!tenln-afternoen- urrestcd four men in Yon Yen l;erH who nie under Indictment, which charges them as members of the Irri ilum Geld nnd I'Jntinuiu Company, of New Yerk, with Helling between .f,r)0fl, 000 and .Sl.OOn.OCO worth of iteck in a fake geld and platinum mine in .Nepra Park, one of tin; residential sec tions of unborn. Negroes Pay Tribute te Jehn Brown Ijike Placid, N. V.. May 10.- (fly A. P.)- Hundreds of Negroes yesterday innrehed In a pilgrimage te the grave of Jehn Drewn, famous abolitionist, who 1b burled near here, and conducted memorial etttmemiu. tt irat, since bis Champions in Every Spert Wear Pennsylvania Knit Coats The Pennsylvania Knitting Mills THE WORLD'S LEADING MANUFACTURER OF SWEATERS is increasing its capital by offering DIRECT te the public an attractive and most unusual investment opportunity. 25 2-5 has been the average annual return te stockholders for 5 years. Established 16 years; the products are NATIONALLY ADVERTISED and sold by thousands of stores all ever this country and recognized as the leader in its line in the United States; returns te its owners have been excep. tienal ever a period of many years. The mills have never been closed for lack of orders since the start 16 years age an unusual record. The known quality of our goods has created a tremendous and ever in creasing demand for our products, which runs into the millions in annual sales and are worn by men, women and children in nearly every city, town and hamlet in this country. ORDERS ON HAND FOR THE FIRST FOUR MONTHS OF 1922 ARE IN EXCESS OF $750,000.00, with the best eight months ahead of us. A steady healthy persistent sound growth proving quality of mer chandise and efficiency of management. Fer full particulars regarding this offering apply direct by letter te Leenard C. Wemple, Secretary THE PENNSYLVANIA KNITTING MILLS, lGth & Callowhill Streets, Philadelphia, Pa. This is a bona-fide invitation te participate in profitable investment; it is extended te all of the public. accepted in amounts of $100 and upwards in order of their receipt until our issue is sold. a sound and very Subscriptions will be US' Territery: Earnings Valuatien: Metropolitan Edisen Company Cumulative Participating Preferred Stock Annual Dividend $7.00 Per Share Application will be rtuxde te list en the New Yerk, Philadelphia and Bosten StecktExchan&es The company operates electric light and power properties in Read ing, Pa., and 64 ether communities directly, and 30 ether com munities indirectly. Net earnings for 12 months ended'March'31 ,1922, available for pre ferred dividends were $580,952. Preferred stock dividend require ments are $191,240. The above net earnings de net include $294,000 surplus earnings of the Pennsylvania Edisen Company, the com mon stock of which is owned by the Metropolitan Edisen. The value of the equity in the property, based en the average of reproduction cost, during the years 1917 te 1921, is equal te $415 per share of this preferred stock. Participating Feature: The preferred stock participates with the common stock in all divi dends which may be declared above the present rate. The above earnings show a substantial balance in excess of the common stock dividend. We recommend this stock at the market te yield about 7.30"S. A complete description will be sent you en request. Eastman, Dillen & Ce. Members New Yerk Stock Exchange 71 Broadway New Yerk Telephone Bowling Green 7470 Leng Term Bends In our May Bend Circular there are described 63 issues maturing in twenty years or longer. These include carefully se lected bends e'f all classes and the yields range from 4.05 te 7.50. Ask for Circular lMl Harris, Ferbes & Ce Pine St., Cor. William NEW YORK Philadelphia Offics Widener Bldg. Telephone Spruce 7010 FAKE GOLD MINE NEAR N. Y. Hathaway, Stene, Wallace & Williams, Inc, ENGINEERS MANAGERS 1713 Santem St., Philadelphia SPRUCE 7887 Opcruting Management ut Industrial Enterprises. Industrial and Technical Jnves- titfutieiii, and Reports. Consult- ins r'nifinoerKteMumifHctureis $50,000 LEHIGH VALLEY RAILROAD GENERAL CONSOLIDATED MORTGAGE 4 BONDS MAY 1, 2003 PRICE, 84l2 AND INTEREST, TO NET OVER 4.75ft $45,000 GRAND RAPIDS & INDIANA RAILWAY SECOND MORTGAGE 4 BONDS OCTOBER 1, 1936 PRICE, 85 AND INTEREST, TO NET OVER 5.50ft Wc suggest the exchange of these bends )r ethir similar securities quoted at materially higher prices. REILLY, BROCK & CO. 306 CHESTNUT STREET PHILADELPHIA V SetrintDiutmtnt Stockwell Wilsca & Linvill CERTIFIED PUBLIC ACCOUNTANTS .LtndrUU Bid, Pfcilt, A nr.TLK.-OH AUDITA hyktkmu I. Franklin Heward ft Ct. Edward B.Smith &Ce 1411 Cheatnut Street Mmbru Nw Yerk and rhlU11 I HtlH'li l.'ll'llUIII9 Investment Securnii CMWM PuMi A.! Plit1 ,,..i BI v.... il Uum, Mi vwfHf, SI me M UHM..H imm.ULVmKLi' Utmet iMtl. teffiS i.iT 'M&miy&am F. - ' ..if m - ' An! rV. - '. J.&i &' 'timm I tVs" 'tJV. fl.'.FV 3 1 . . uJ i.jj 2i&i", P)Ult4il NtifYej
Significant historical Pennsylvania newspapers