Ww'''" V-'W
mmw
s,m
X
r
t
EVENING PUBLIC LEDeteR-PHIIiA:DELPHlk; TpBDAY.j . .tt&qft- 1& 1022 - x )M
' . r . i i i i i .M
I J-
in.
lM
Rl
I '
1
I
&.W
'i
sts . .,
P ; ,T '1 n
I "rU J VftA,
$&
'W
tf
Spruce 8200
V . fl
V.
ltl.
r '
t. v
W
,? i '
,
k The Francisce Sugar Ce.
lit Mtare. (Closed Mtse.)
Vj
i 20-Year 7V
Sinking Fund Geld Bend
s
Dated Mnr IS, '23 Due Mny 1.".
Price 100 and Int. (a yield 7V4r,
'48
HECCniTIGS DF.rATtTSIT.NT
COMMERCIAL
TRUST COMPANY
Member Tedeml it-serve Mstein
City Hall Square West
WEEK ENDED WITH
I
BUOYAN
MARKET
1 NEW YORK STOCK EXCHANGE TRANSACTIONS LOCAL TRADING
Net i niv.
:e Pnles in j
?'s
Speculative Sea Likely te Be
Cheppy in Next Few
Weeks
Full-Fashioned
Hosiery Plant
Widely known manufac
turer offers business for
tale.
. B 701, Ledger
Office
Ci S. PATTON it CO.
3D CHK-STNL'T STfl.
BANKERS
flncee-eere te
SAILKK HTEVKNSON
Bens sod storks bought and sold
Members Ddla Nictk Rich sure
Lawrence E. Brown & Ce.
CERTIFIED PUBLIC ACCOUNTANTS
1CS0 RRAL ESTATK TRl'ST DI.DO.
Investigate anil adjust corporation and
Partnership account' and prepare Income
Tax Heturn.
FINANCIAL
KELSO SMOKELESS CO VI, COVII'ANY
Vint Mortgage fl'r 20-eiir (.old llends
Netc Is hereby civ en that pursuant te the
."Inking Fund prevision of the Mortgage
dated July 2. 1000, Nina (0) of the abee
bends, each for 1300. have horn dr.ivvn ter
redemption en July 1, 1012. it 10J, 1
and accrued IntereU te that dat .
The bend drawn and numbered as below
with all unmatured coupons attached, should
Sew Yerk. Mnv 1". Tin1 week closed
with a brand find bue.vmil stock market
I tnilny. While there wit .in absence of
'the spcetnctilnr advances attending r
terday's esiieii tin whole lint showed
whnf could be best called nil nlmet
iiicMstlblc. upvvnid trend. The pto pte
Liivjvi mid broadening rlinrncter of
tli" ternnnl swing mulling ns it did
I int'tlrnll. evert, division of th" list if.
Ilri'ted n complete tout of the tc.te tc.te
tieimiy jinrty ns then1 was outstanding
reef of hasty cewrlng of shorts all
' i emul the room.
Although .peciiliitltp inteiest eon een
finucil roticentrntid te n gient "tcnt m
tlie issues influenced by the steel
im-igcr there was n distinct broadening
of bullish activities and mnny ethct
, issues been mi prominent in the trading
because of vigorous bieinj; and sub
stnntiiil adtnncrn. Thi was partic
ularly tnn .is t Hi" lailread diisleti
nml lh" lewi-r-pru cd oil Tup spv.ien
was punctuiued In friipu'iit periods of
liberal pieilit - tHktiis. but thpe ofter efter
iiik wpie iiicklj oercoine b the hi.nv
, ililiuv et treili but lite orders and the
constant retreat et the shorts. As i
result the final pi ices were net enh in
me.r eases the best of the d.'. but m
i niinibereus instaiii.es were the hlRlict of
the week.
Trading bends rip netnin.il am1
iricK't'l if of tone. Liberties used ami
fereicn efferinss were mixed Frew b
Oevrninent s, Swiss Ss. Heluuni
iT'ts and Mexican is were fraetleualh
i hizher. thlK Tiench T'js and seer.i'
of the rii'tuli iniinieipals les as mm h
Ainen domestic ltidiistiials, mils .i tci
utilities i hanges were cipiilly narrow
in no iiistaiup exceediriR n.iciietis.
It it wiis Known bow maiij mere Mir
prisi s ibHie wiri "tered up UK" tb"
big eup Charles M, Sdtw.ib pull, il ..fl
te th" nt tot surprise of tlie Mnei in
the Het hlchein-Lackawanna Stei I mei
k'i r ill" tuttire of the ctirient maiKe
would be much mere pay te i"id A
it stands, it is nr. one's guess, ter. ,r
the moment, the general inarKet "It na
tion is se hi.nU charged with conflict -
.in,: i run i urrents that some of tin
! shrewdest ebseners frnnKlv admit thnt
inabilit te ariive at u -atisfactery ami
rellibl" reckeniiiif. In consequence, fei
the next few w i'K". th" specill.ltlP e.i
is liK"h te he e-y choppy and the hoii heii hoii
.en mi'icist with tog banks.
l'ut i spciuimivu entlnisiasiii had
been iei harsed te a high pitch by the
I Hethlt hei'i-i.ackawiinnn merger, it was
u pretty s.ip. bet te sa (lip market h.li
'cVmmercla" Trucemrani? ffit! lp &'T ' tn" toward getting
Cltr Kali Square. I'nl.adelphia. en or arter the reaction mail, including the sold
July 1. 1922, wnen an interest tr.ereea wuieui hulls m( peen awaiting for some
ceaie. rei.
7 12 57 10 11'. ITS 1P2 204 273
COMMERCIAL rKfST COJU ANY Trustee
JOHN 11 ifABO.V President.
time There was. nr least, just ntlit'ien'
circumstantial, it net concrete, cMilenci
te indicit" erv clearly enough distri
bution had been ri.tde in the preceding
thri" or feui weeks te require a perien
of tligistie rest. As. a matter of fact
the li"t. as a who'", developed well-de
fined sMuiitiiiis of indigestion and en
rOCAMO! tAtt CO.Ns(UJIIAlfcl cot.
IJEBIKS COMl'AY. INtOKI'flKATl-.II
Kft-yeab nvn pkb cex goie
BONOS. DL'K .ILIA 1. 1917.
Netice Is hereby given, pursuant te th ,
terms et the Jrertcaze dated July 1. 1007,
hat lh unders zned as Trustee will r , .. i j .... :. i....i..,.i .... i.' i. ... ;..i.. i.
iSr ealed proposal up te 2-00 P. M. en i "-" " i '" - "Ki
tSt th day of June. 1922. for the sale te It an acute case. IVsplte the Umperan
s( bends as above d.ncrlbed sufficient tp us; restoratives supplied by til" Schwab
lh nmet I45.M2S1 The . urderslared .. 1B '..' niietlnn
Kie nsni xe rvjcci any or su isncers, : , '! , ,. . -. ' L .
iwneruer tne uigc'ine (iisiurDauce nas
been entlrelv corrected.
This much is certain, n large number
arvea t
l ta wbeU or In part.
I THE NEW YORK TRUST COMTAMT.
' Trustee
By A. C. DOWNINO. JH..
Assistant Fecretary.
V. . Mst 4 1I?2
of the well informed and deep thinking
of th" market rummunlty de net enjoy
the same ii gree of implicit confident e
i.r .hMiiAiltfn a4 ets AdvACiBaetvf-ltn
CAMUKIA -SfhEb COMPANY ul " '""" "" -" '""' '"
The Annual xreetinc of the stnekhnM. precrim as they entertained, sav,
er of the Cambria Hteci company win b month age. Kneugll, llkwis", has been
niiaii uweura ui iiirCTinwnr, .n in.'w . .ti.-i...,! ...M,, th no( fnfnlKf ..,
itn.i. V..1V..W-... .. t... .'....(,..1. ..
cenvinc" nil t'nbinsed ebcrters an al
most dangerous overextension of Hpecu
lative commitments en the long Mde had
been created. Coupled with this are
many substantial reasons for assuming
the se-called peels and speculative com
binations succeeded In unloading a
larger part of their holdings en an ever
confiding public, it is nlmest quite cer
tain, in nil events, unless surface signs
ure misleading, the pcrsennllj conducted
peel operations h.i" been, for the timi
being at least, suspended until condi
tions and circumstances become much
mere propitious for their resumption.
Then again, the play time, or the va-
iwrpn STATF.S SHlTPivr. nn.nn 'catien pel 10(1. or tne nig operuiers i-
threush the t'nlttd states snippnc Heard i rapldlr approaching and ill hut a short
nwiency rieet Corpention Invites bids for I time tlietc will be si en H striking "Xeduu
furnlshlnit Rottem I'a nts at Bo'ten. New , "V, ', , ,.i,.u ( VBI1 itrert te fereicn
Yerlt nnd Philadelphia of tile big lights in u an t" l '" 'eicimi
Fer full Information and f 'in of p-opeil and ether meie ointettabIe clim"b. In
communicate with "le Depurttn nr of Pur- .,, i.,nir histeit. Wall Street bus seldom
chases and Supplies United states shlpplrs l? , k " i " .,, l l,ll mnrl ... .lerln
u- vn.i.r.nr.i. v ... (rme.. ..!.. ..mpripncrit niiv Lug en ti inaruct uurin..
nwM.u. ,-...v.w..- -... w.KW1v,uli , 4.,tl. - r. . .-
en, v c. . 'the henteil teim, nnu ireui an siKjis. imt-
Annual Meettnra
Wldener Bulldlmr. Junlpr ar I Chestnut
afreets. Philadelphia, I'nn h r,,a. en Tues
ay. May 10. 192J. n 5' o'clock p j.. Mien
en election will he hel.I for three, directors
te sane for the term of three jears te su:
teed these whose tc-m wl'i then exnire.
P n RURTIS.
A ge-e;arr
WESTINOIKHSK KLFCTHIO A
MAMTCTl'KINf. COMPANY
1CS B'way. New urU. N. Miy II 1022
Fer the purposes e the Annual Meetms
of Stockhelderi te be h Id en June 11.
19!. the stock tr.nsfer bnel s n!l he
closed en Jlay 20 1UJJ. at 12 00 o"eleclc M.
an! reopened en June 1 1022 at 10 e clock
a. ar.
JAMKS c- RRNVnTT Secretary.
Proposal
latti
Bids will he recened unMI 2 P, J. (stand.
-ara lunci, uunv . iv.,
Envelopes should be nddreised te I, Van
Ulddleswerth. JIanager Department of Pur
rhaaes and Pupp!le i United States Shlpnlnc
Beard, Emergency Fleet Corporation. Wash
ington. V. C. und marked "Rids for Sup
bllea Ne. 401 "
Tha rlcht is reserved te reject any and all
bltti.
summer is net going te w: unj rarrinieii
Things, of course, could happen te
change the entire outlook, but It 1'
obvious even te the untrained layman
that until this transformation occurs
the technical position, rather than out-
slde conditions, will continue the gev
'erning factor.
nivlilende
GRAIN MARKET
XBK ATLANTIC RFJ1M.S(, COMPANY
SIM l'ussunk Atiuue, Philadelphia
My 10. 1022.
At a meetlnc of the Rmnl or nirr..r,..
held May 0, 122 a d vldend of J-. 00 ter , May
snare wb urent i n uie I ommen Rtec lulv
of the Company, pajable June is. iD'2. te ' si.-niber
Cern
Mv .
July
September
wn-ai
Mayk"",dYy''Sf "checks' l', C"" 'f bsT"e" I " ""
Jlay , -H'--. , necKs , u ma .ed u
. W. I'. AMM.ItSUV s.rr-tsrT ,,.w
Tet. elee
ill '4
64'j
OH'.
1 41'.
1 Jil',
I 1'JS
Open
MH
CM',
11 A M
(11
M4
U7
1 4,-. ftl 15'i
1 .'l fal J'l'j
1 '.('lli I 1 -OS
jseia; inreusn an error the date of divi
dend pajment or ti, f jr.-ulus wa erlctnaMi
'nnnreil . av 1 ,1,(1, 1 U June 1 '
Nebraska Power Company "
Preferred Sterk DUiilenil Ve. 2(1
The reuular luiirterly .'tvidend of Iir.
en tha Preferred Sterk of Nebrsekn Pewr
fT!Pa.ny. ha" .ben drclsred ravable June
1, 12. te preferred etec't holders of record
at the clone of business May IS 10""
...-m..,. .rraaurfr.
lull
Str'mie
v
Ju
SepieinLc
f.rd- -lulj
yeptemt
41'.
HI".
J1
Il
7 11
4'.'.
-'il
V.K
1 00',
1 1.4
II hi
b. n
COTTON MARKET
FOREIGN EXCHANGE
New Yerk. May 13. The market
for foreign exchange opened with heli-
ila. annenrnncf. unit nnnlnllitnu ...-..
VV '. ..J.JJV... - ...-. nw ... .i, -j ivi'ir
s Irregular within n nnnew rnngi-. Ster
Ms 7 " 87 10 01 19 05
Juii it " i M ''' 6i
Oit 19 51 I'lBrt ifs
D.c li r, i 19 4s into
Ian 10 41 VI 4 J 19 4
Mar 1 4-. 10 Id "47
Hpet 20 If.
10.7B
10 40
10 41
10 4
1 S
10 89
IK 4 ,
10 474T4s
11 51 'a
l'l 51 fl'..
10 4J
10 41
Sites
100
soe
100
400
tee
703
100
100
400
100
800
100
100
300
200
100
400
200
GOO
2200
100
700
868
100
100
1700
2100
100
2400
1600
200
700
500
100
200
3600
200
1300
15
200
800
200
-00
1900
1000
300
200
6400
1000
200
500
, 100
400
12000
400
300
90
Ti00
000
100
100
'00
r.01
200
zee
700
1100
100
1600
1400
?00
.'00
100
100
600
200
100
400
'10
100
100
;oe
."OOO
800
100
1600
100
2600
100
100
1103
8700
J00
1000
1400
2400
300
2100
000
2300 :
16800
200
noe
300
1800
400
1400
400:
100
100
100
uOO
100
700
li00
700
'00
100
700
oe
'00
iOO
10100
100
100
100
00
"MOO
1 -.0
100
2'jOJ
'00
1b00
29 00
100
300
5500
200
POO
2900
1 ;600
J300 ,
ae
500
bOO
700
1600
600
600
J(J
6 JO
0i
ij '
I
jp'J
ec
390i
lO'i
100
r '00
3000
U00
1700
.300
NEW YORK COFFEE MARKET
YeM
Ife
Mi,
lune
Jal
A us
t JJt
IK.'
Ni V
Dee
Inn
Feb
Mar.
Rid
PjC
I
ling opened M higher, and there were
gains of U point ever vcsterdiiy's final
lifures In francs and Danish. Helglnns
were down H and lire and Norwegian
lest a point. Swedish was down 2 points
and marks showed a less of "i net
(Jlldera were 10 points under th" high
l coerd established ester,day. Specu
lative fcentlment appeared te be con cen
fuwd. Tie market, after early Irregularity.
iV developed strength. There were iul-
5f,ISf.TgncwJ ui i. ie . piuiiis irem ine open-
,jf ngurcs. .m tne nnu sterling wn"
ra ever lsici nuj s iinui, irancs
aknwtMl n net enln of 'J'1. Iti'li-lniw nml ' -. ., nr.reried
Danish 1!, lire I1., nnd Nerwaj .". MaiK- tecit of re.erd May i
A ..nn.....mM. .1 4..... .1.- ........ ... A'tl' ..-
Wr7 UUL'imitKIU llt.lll 111. 0fV'llllJ .UIU
showed n iiPt less of Mj point.
Central Ihirepean exchange1 were
dull today as follews: llulgarlnn .70,
Ilumnnlan .71: Serbia 1.48: Czctlio Czctlie Czctlio
aieTaklnn 1.IW: .luge-Hlavinn, 87:
(reek 4.20; rinnlsh .M0; Polish
,0255; Au strain .0118; Hungarian .1M
unnniiinii cxi iiangc leitcneu tne nigh
ivt record today for the last two or three
vj.v wgrn l aj-iw ivr v-vni. .iviuiuiii .mi
krtKS"JW xerK. 'itie uisceunt en cnnaninn
Ocen li1'" T-e1" Cle lese
V t!0 40 10 41
10 81 lOJ'l
10 ' 10 2.1'a25 10 Jt
10 00 0 11'.
1 70ffat il SO 9 SO 11 7Hlft SO 'l 78
t'l 72 'i 7(i
T'l 15 I) (11
1 '7 60 . 9 '.sWCO 'I -.:
. tl 51 ( ,-,4
. . ! 10 s '( .
. 45 ... '' 45347 I. IL.
Nominal.
12
STOCK 1tlh
Advance Uuninly .. 17
Ajar Itutiher 17
Alaska Celd Mines. 7
Alaska Juneau O M. 1 H
Allied Chcm & Dye. 66 U
Allls-Chalmers .... 49 H
Am Agrle Chetn. ... 39
Am Beet Sugar.... 39?s
Am Descli Magneto 45 'i
Am II Pheo Kdy new 61
Am Can 47 j
Am Car & Fdy....160&
.. Am Chicle 129s
. Am Cotten Oil 25 ?s
. . Am Priii? Syn 51
. . Am Illde 4 Leath pf 67 Yt
7 Am lee 105
T Am Ice pf 30 !i
.. Am Intel nat Cerp.. I4J2
1 Ani-I,n Trnnce Hns 12Ji
Am l.lnseed 33
" Am Locomotive ... 1 1 5
" Am Locomotive pf .116U
1 Am Iladlater 98
. . Am P-ifety Itazer. . . GJi
. . Am Ship & Cem.... 17 Vt
. . Am Smelt 59
7 Am Smelt pf 97
3 Am Steel reundrlea 39
. Am Sugar Hef 75
Am Sumatra 33 Ji
9 Am Tel Tfl 122
1 2 Am Tobacco 1 39 H
I- Am Tobacco .H 136&
. Am Waterworks .. 12!-,
7 Am 'Woolen 92
. . Am Zinc Ld & Smlt 18
. Anicenda Copper.. 52 "J
C Ape D Ooeds 1st pf 82t$
Asse Oil 125
6 Atch Tep A San Fei 00
. Atlnn lllr & Atlantic 3!i
7 Atlantic Coast Llne102U
Atlantic Trott ... 4
. . Atl Gulf A W 1 3 S 35 '2
Austin Nichols 25 A
' utln Nichols pf.. 85
7 Haldwln Locemotlvel 17?i
. . Unltlmerp & Ohie.. 47
1 Haltlmer. & Ohie pf. 60lB
. . Barnd ile Class n. 44 J4
. Hitepllas Mining... 1
f. Bethkbem Steel.... 77 U
r. Beth Steel B 81 "i
S Beth Steel Se pf. .1124
. . Urlt Urn Steel 2d pf 27
. de Odd Ixjts 26 !i
.. Broekl.vn Lillsen rts 2'i
. Bkln It.ipld Tiansit 26'
. Bkln n T ctfs of dep 22
S lturn.s Bres A 1334
2 Burns Bres B 40 JA
7 Busb Tcim Bldg pf 97
. Butte Copper & Zinc GJ
. . Butte & Sup Cep... 31
.. Butterlck Ce 27
. Cadde Cen O & n.. 3
. California Petrel... 561J
Callahan Zinc & L1 8
Canadian Pacific. .. 140 tg
Caison Hill Mining. 134
Central Leather.... 37
Cerro-de-Pasoe .... 37 !i
fertaln-tced Pred .. 464
Clnndler Meters... 73 Ji
Chesipeake & Ohie. 65 '4
Clilcige & Alten... 8
Chi & n 111 (new). 38 4
f'M 4 TJ 111 (new) pt 56
Chicago & Gr West. 8 5,
('lilGl Western pt... 21
chi Mil & St P .. 26',,
nil Mil S. St P pf.. 42Ji
Chi s. Nerthwestprn 74 'i
chi cl Northwest pf110'4
10
Chi I? I & Pac
1 hi It I & Pac 7ci pf
Chile Copper . . . .
Caire Copper . . .
Clev Cln Chi & S L
Coca-Cela
C010 1'uel & lien..
Colerado i Southern
Celum Gas & niec. .
Coluni Graphopheno
Cemput Tab Hce. . .
Consolidated Gas...
Consel Textiles ....
Cern Product Ref.
cesden & Ce
Crucible Steel
Cruclble Steel pf . .
Cuban Am Sugar. . .
cub Amer Sugar pf
Cuba Cane Sugar.
Cuba Cane Sugar pf
Davisen Chemical..
Pcbeers C Mln Ltd
I 'e law-are & Hudsen121 Ji
Del Lace K West.. 117
uurnam jiesierv pi 01 z
Hast Kodak (new;..
Kmersen-Brantlne .
Lndicott-Jehnson . .
nrle
Krie 1st i)f
Lrle 2d pf
1 airbunks
Pameus Plajers L.
Pc-d Mln & Smelt
Ked Mln . Smelt pf
Tislc Rubber ....
Freeport Texas. .
Gaten Wms & Wig
(ten AmTCil pf
Genera; Asphalt. ..
General Electric. .
1J'4
954
195
28 U
65
57 Ti
36'4
48 li
F8'4
418
67
117
134
101 h
43 .
771,
94.
21 V
93
15?,
33 U
60
21 H
77
8'
82 5,
13,
21 J,
15
15
80 j;
12
43
IB?,
19',
2
98' 2
163'2
1Z
81 2
40 .
28'-.
17
75
41
11'4
141;
87',
2
78'..
19H
9i
36
General Meters
C.ei Meters deb 6
Goedricb B F s.
Granby Cen M & b
Iray &. D.-nls
Great Northern pf .
Great Northern Ore
Guantannme Sugar.
Gulf Mebile &. Ner.
Gulf State Steel....
Hablrshaw El Cable
Housten Oil
' Hupp Motorcar....
Hvdraullc Steel.. .
Uvdraulie Steel pf.
Illinois Central 103'j
Inspiration Cen Cep 40' 4
Indlahema Ref
Intcrb Cen Cerp...
, intcrb Cen Cerp pf
Jntr. Cement
Inter Comb. Hng .
I nt Mer Marine. . .
lnt Mer Marine pf . .
International Nickel
International Papei
, Intel Paper Pf Htpil
Invincible Ci' Cerp
Iren Products
nlind Oil
Jewel Tea
Jewel Tea pf
lenes Bres Tea . .
Kajaer & Ce. new ..
Raman & Gulf....
Kan City Southern.
Kan City Se pf . .
4
3
l
37 ';
2r,
2J i
84 4
17
',1
09 i
W ,
J2 ,
ls
21 ,
71 'a
42
45';
5,
28
59
l.nvv
17
17
'a
ns
GG'
484
39
39 i
45
61
47yj
160 ',4
2
25
S
G7V5
lOJlj
801,
44 k
12H
33
114
116
98
C?i
16V,
58I4
97
28 V,
74,
32 H
121 H
139!,
13614
12U
SOW
17Tb
5214
82 Vz
125
D9t4
3'i
102
3Ti
35!,
244
8412
11614
454
60" s
44
1
76t,
80 4,
1124
26s
261'-.
2'4
2Vz
21 a
13JH
404
96,
6,
30t4
26H
124
56!J
7JJ
13914
134
36 ,
36;
464
73
65 1,
8
28'7
544
8,
21
25 '4
41 H
73 '
1104
43'4
95
19.
28U
G5
57'i
35,
47'4
87
4Js
b5
116
13i
101
43'1
4
94
20
92
15S
33tA
9
21 H
121
117
81 14
76 ,
8U
81 '5
12
21 2
15
15
PON
12
43
17 '-4
18',
98 '2
Ol 3,
103 ';.
12.
81 '2
40 4
?8
17
74
41 U
11
14
84
2
78 ,
184
6'a
JO
10314
29
4
2
i's
Te, I ealei, 713.000 share, cempered -with
7
25'4
23
8?
'7.
r0'4
e9
W
12
1 '
21
71
12
434
4
27
b9
1 17.'
Todal'S
Cleso
17 '
17
Ti 1
14 1
t
39 t
394 b
45U r
01 b
47J4
160 12 !-12H-2514
5s I
67H-
104
V33 '
114
110 -
90 '
6 17'i '
l!8!4 '
97 -;9
J.
75 !
33K3 '
1214 '
139'. "
13614
1214-
91 4
17T,
521;
0212
125 -
99 "A '
3
102
4 !
35
25 !
85 !
117
46
601,
44
1 -
77-
804 -1124
-
27 '
26
2'2
25
22
133
401; -
96
0 30 -
26 '
13 '
56 '
8
139
13 -
37
37
464 '
73
65 :
8
284 '
56
8 i
21 26 '
42 ,-
74 :
1104-
43 '
33 i
19. -28
.
65 -57
-35
4
48 '
C8 f
4 r
66, -
116 ,
13h '
101 i
43 -75
94
21 '
92 -15
33 '
9
21 -
121 -
117 -s-
ei !4 .,.
77
8
81 -12-214
-15
'
15 -804
-12
-434
'
18-,
19 .
'4
98 Vz ,
01
103 i
12
81
40 '
28 17
75 -t-414
.
1 1 -t-14J4-854
2
78
19-f
9)4 -
36
1 03 14 -
39 ?8 -4
t-2-5
.
3714
25 -2J
-82J4
J
179, 50
G9'4 :
174
32 '
1
21-f
71 'r .
42 -4514
5
28 '
59 I
8,00 shares
In
V
2
4
s
1'4
1
4
'4
'4
'4
1
' '4
-
1H
'4
1'4
14
Pnles
1000
100
1700
4000
100
26800
5eq
100
400
2200 :
400
100
600
900
100
100
500
300
100
100
100
1000
1000
9500
5300
3700
300
GI001
GOO
100
44800
300
1400
1800
700
803
2100
100
3400
100
100
100
200
1500
200
STOCK Illnh
.. Kclly.SpK Tire 51
0 Kelsey Wheel 98
.. Kcnnecett Copper.. 2314
.. Kejstene TAR.... 22J4
6 lCresge 3 S 138
.. Lackawanna Steel.. 79
.. Laclcde aas of St L 79
.. Lake Krie & W pf.. 334
2 Lee nubber Tire.... 33 J
1 Lehigh Valley 62H
.. Lecwe Ce 16
7 LouIhvIIIe A Xash'e119
32 Lerrllatd P 152
...Mack Truck 49
4 Macltay Ce. 92
7 Manhat Llev Ouar. 51
2 Manhat Shirt 40 J4
1 Mclntvm Mlnci new 1014
.. Mar St liny Istpf.. 38V4
6 Mar St Ry pr pf.. 62
.. Mar St Rvvy 2d pf . . 23
Marlln Oil 31
2 Martin Parry 31
Jiax Jioter Clas A J'4
Max Moter Class B 224
l Mexican Petroleum. 131
Lew
5014
98
32
21 96
138
78 U
79
33
33
6114
15
119
15114
48
92
51
40
18
3014
62
23
30 H
31
ba4
21 Ti
130
TeilaM" 0"
unae
51 14
nn -! 3
3314
22
138 -78U-79
33 H
3314 G2H
16
119
152
Miami Cenner
Middle States Cern.
Minn St Leuis new. .
M St P & S St M..
Mldvale Steel
Me Kansas A Texas
Me Kan A Tex (wl)
Missouri Pacific...
Mb Pacific pf
Mentana Pewer
Montgomery Ward..
Nit Biscuit
Nat Lii & Stamp
284 2014
144
13
60 U
40
11 U
17
23
5514
7214
21 K
145
42
National Lead pf..110
Nat R Ref M 2d pf 54
Nev con Copper. . . .
N O Tex & Mex..
New Yerk Central..
1614
6514
8914
C New Yerk C A St L 684
500 2 ncw Yerk Deck
!
!
'2
14
'I
1
4
'I
S
'
14
1
S
'i
"t
'2
la
'2 I
14
1"
1?l
!
3
11s
1 '
" li
2'4
11100
100
200
400
700
300
GOO
600
700
100
2700
Zl 600
500
GOO
600
3600
300
830
100
900
24300
. 100
200
1600
100
1900
4000
1600
3700
GOO
300
3200
200 1 .
600 n
100 7
7000 . .
200 6
700 S
3000 . .
2330 2
1200 ..
7700 4
200
1 4700 . .
23600
200
300
20005.20
2300 ..
300 .,
100 ..
100
1400
4100 ..
5600 . .
1300 . C
5200 ..
800 ..
1600 4
803 S
200 7
400
100
300
9700
100
1400
300
200
1300
4700
400
1000
1600
100
200
1400
100
400
66500
2000
1300
400
4100
2400
300
400
9600
1300
800
600
1400
100
100
31800
GOO
1300
200
27300
! 200
I 500
800
I 100
300
600
100
100
100
100
1200
BOO
iOO
000
J00
860Q
900
200
100
300
New Yerk N H & H
New Yerk Ont A W
North American its
North Amer ctfs...
Northern Pacific . .
Neva Scotia SAC
35
29 H
27H,
7
57
76
3214
. Ohie Bedv A Blewer 1 1
. Okla Pred A Ref. . . 3
. Orpheum Circuit... 20
S Otis Elevator 137
. Otis Steel 154
Otis Steel pf 65
2 Owens Bett Mach.. 3694
. Pacific Devcl Cerp.. 10
C Pacific Ga.1 A Elcc. 694
3 Pacific Oil 65
C Pan-Amer Petrel .. 64
C Tan-Amer B 57
. Panhandle 74
2 Pennsylvania R It.. 41
. Penn Seab Steel.... 12A
. Peoria A Eastern.. 13
5 Peeples Gas Chicago 86
. Pere Marquette. ... 31
3 Philadelphia Ce.... 384
2 Phillips Pet 44
. Plerce-Arrew Moter 21
. Pierce-Arrew Met pt 42
. Pierce Oil 11
8 Pierce Oil pf 60
D Pitts Ceal 634
. Pitts A West Va.. 364
Pend Creek Ceal... 20
B Pe.stuinCerc.tl .... 78
7 Press Steel Car pf. 98
. Pred & Refinera ... Z9
6 Public Serv of N J ,06
S Pullman 121
. Punta Alegre Sugar Ml ,
2 Pure Oil 33
. Ray Cen Copper. .. . 1G,
4 Reading 79
Remington Typewrit 3314
. P.cplogle Steel 35
. Repub Iren & Steel. 73
. Ren Iren A Steel pt 91 14
Remolds Teb B.... 46' 4
Royal Dutch N Y. . 63
. St Leuis San Fran.. 30
. Santa Cecelia Sugar 4
. Savage Arms 19
. Seaboard Air Line.. 7
. Sears-Roebuck .... 74 '
. Sinclair Oil 32 '2
. Sless-Shcffleld 54
C Southern Pacific... 904
. Southern Rail 24
. Splcer Mfg- Ce 1.8
4 Standard Oil of Call 14
5 Standard Oil of N J 188'?
7 Stand Oil of N J pt115J4
.Sterling Pred. Inc.. 49
2 Stewart Warner Spd 40
. Strembere Cuib.... 53
7 Studebaker 118
7 Studebaker pf 109
. Superior Oil Cerp.. 8
. Superior Steel 36
. Sub Beat Cerp b
. Tenn Cep & Cliem.. II 14
3 Texas Ce 48
. Tex Gulf A Ship.. 424
Texac it Pacific... 32
1 Texas & Pac C A O 29
. Third Ave 22
. Tidewater Oil 134
1. Tobacco Products.. G9
Tobacco Pred pf . ... 92
Tel fet L & W ctfs B 37
Transcen Oil 17
4 Transue Wm Steel. 45
10
Union OH
Union Pacific
United Alley Steel
United Drug
S United Fruit
United Rwy Invest
6 United Retail Stores
U S C I P A Fdy. .
. U S Ind Alcohol...
. U S Realty A Imp
. U S Rubber
8 U S Rubber 1st pf.
. U S Smelt A Ref.
6 U S Steel
7 U S Steel pf
2 Utah Copper
Utah Sec
. Vanadium Cerp....
. Va-Car Chemical...
Va-Car Chemical pt
0 Va Iren Ceal A Ceke
c Va Iren C & C pf . .
. Wabeali
Wabash pf A
1 Wtbci & IttdlbreiiHr
Western Mar j land.
Western Pacific . .
Wesu rn Union 3 el .
4 Westing E A M....
Wheeling ALE...
Wheeling Ac L E pf
Wlilte E.igle A Re Ce
White Oil Cerp....
Wick Spenc St Cerp.
WIllj'B-Overland ...
, . Wilsen &. Ce
4 Wgrthlngten Pump.
Wright Aero..
1374
41
72
140
-;
58
364
49
6704
63
104
40
99
118
65
17
51
33
75
59 94
72
10
31
15
10
21
98
02
12
21.
25
10
21 fs
8
45
51
9
yesterday. Thus far this week. 8,708,800
144
12
60
374
It 14
17
224
55
72
21
145
40
110
54
V614
654
89
60
344
28
27
7
57
.75
29
11
3
20
137
15
64
3G
94
69
644
634
56
74
404
H'i
13
86
20
38
43
1994
40
10
58
03 '4
36
20 !4
77
98
37
86
1204
40
-31
16
77
32
34
674
90
46
62
29
3
19
7
73
32
4914
90
23
18
1124
186
115
49
40
5.f
117
109
7'4
35
5
114
7
42
32
29
22
134
68
92
3 b
15
43
22
137
39
71 4
139
15
57'i
35
49
67'4
62
104
40
ta
iiu
64
1714
40
32
75
E814
72
10
3014
15
10
?1
98
C2
11
21
25
10
20
, 7
45
51
9
Y
v
1
(4
94
H
114
2
2
FAIRLY ACTIVE
49 1
40
10'4
3814
62H
2J -
3054
31 72
2294
13094
28 94
60 b
40
11 U r
1794
-
72 !4 I
21 S 1-
145 -42
sj
110
594 !
16 .
6514
89
6894
35
2914 r
27 94
794
574 76
32S4
11 -
3
20 y
137
15
65
3694
-74
41 H
12 13 -86
31
38 94
44 -
20 -41
11
60
63
36
98-
39 -:-86-
1214
41 4
i34 .
'16 -79
r
73 f
91 -46
,
r
3
19 -
f
74 '
32 '
51 -4
90 t.
24 --18-'
114
186 :
115 -
49
40
53
1 1 VI
109
7
36 -
5f U
11 "i 3-
474 -
4294 '
32 94 '-
29 '
22
134
68 '
92
36
17 5
44 '
22'
1374 -41
72
140
15H f-
58
35 -49
67 !
63 104 J.
40
99 r
118
654
17J4
51
33
75 !
59 t
72
10 4.
31 '
15
104
21 tj '
98 t
02 12
211 '
25
10
20
7
45
51
9
V
V
3Vl
114
14
V
V
la
1
H
194
V
'v
14
14
194
V
14
H
Vt
94
14
14
"94
714
1
4
1'4
14
'A
94
14
14
4
14
44
3
14
1
4
1
Defer Restoration of Pentisy's
6 Per Cent Dividend Until
Earnings Pick Up
j
Trndlntr was bread nnd nctlve for a
half holiday In the local market nnd,
while price movement wnsemcwliat un
even, the tone of the general list was
strong. A prominent development was.
the active speculation In Lake Superior,
suggesting resumption of peel opera
tions, which advanced the stock te 11,
NEW YORK BONDS
t SALES IN $1000
Arc Ttep'e Sal 8 01 H,
4 88 Ann S b II 5"
Arm Itep'e 7s 1 nsH
10...,
3....
1....
1....
1.
101 V
10m
101 14
101H
101
making n net gain for the week of 1
The purely speculative chnrflcter of the
movement naturally robbed It of sig
nificance, but the sponsors no doubt
will gratuitously In the course of time
supply ample reason for the demonstra
tion. American Gas, after an opening dip
of a point te 70, mnde n quick rebound
te 72". 'American Stores nnd P. R. T.
ran Inte moderate profit-taking without
losing much ground. Pennsylvania Rail
road was firmer, in line with the up
ward swing In the rnils in Jibe New New
Yerk market. Amerlcnn Hallwajs pre
ferred continued te be picked up at 4I,
suggesting steady accumulation. The
Philadelphia Electric issues maintained
a firm position, whl'e U. Q. I. shaded
slightly. Small lets of Frankford nnd
Seuthwark Passenger Railways were
taken nt 280, or 0 points above the pre
vious sale. West Jersey nnd Sensherc,
en the ether hand, lest n point, yield
ing te 30.
Se Tie light was thrown en the desul
tory selling which has appeared during
gradual decline in the stock of the Penn
sylvania Railroad since it teucHcd 43 Vs
several weeks nge. It will he recalled
in the ten-point recovery from the low
of the jenr thpre was confident talk of
an enrlv restoration of the (I per cent
dividend rntp. While the management
has virtually pledged Itself te ac
complish this happy result us seen ns
possible, it develops there is a feeling
among a number of the directors npalnst
making any change in the dividend
policy until earnings reached a mere
satisfactory bnsis.
The remarkable Improvement shown
in the recent months in the net Income
lias been accomplished ery largely
U 1 through far-reaching economy. In the
- belief of n number of the directors this
5 money, obtained from the economies
'z practiced, hheuld be put bnck Inte the
' property and such a policy should be
,. 'continued until the gross earnings have
'3' 1 reaclit 1 a point insuring sufficient In
j crease in the net income te pay the full
f? I 0 per cent. The directors uie erj
anxious te nave tne stncKiieniers re
Chinese Cleve' t
II-K niy 5s
1 5SH
5 54
City et Bergen
8s rctrf
1.... 110M,
City Berd'x ei
1.... 1054
City Lyens 01
1 87
City .Mara'n os
2 8(14
1 80.
1 h0
'2 nn4
3 80V
7 8d4
Cty Ille de Ja
norle 81 wl
10.
I....
1....
3....
5....
5.
3.
104
103
103
103
103V.
103
103
Czech e-Slovak
Hep'e 8a wl
ns
18H
08
nsv;
nss
08
084
0814
D8S
08
2
!'
14
1.
celvp. nt the earliest possible moment,
all the benefits derived from uny in-
leased earning power of thu property.
There hns been no settlement of the
claims against the tievernmcnt nnd
there Is no telling when the cempanj
1 34 1 will get this money.
That is tlii"- experience of many of the
1 ' ether railroads nnd recnlls .1 story told
4 1 by the president of one of the Wpstern
1 I reads. During the meeting of the beard,
' one of thu dlructeiy Inquiring about the
a ! claim of that read ngainst the tSevcrn-
re I ment, remnrked, "Mr. President, de
jeu think it is possible my son will live
1 la 1 long enough te sec this money paldV"
! I The president replied. "Hew old is
1 ;t
't
'?
14
'i
1.
2
14
your son
Philadelphia Stocks
a
a...
1...
5...
20...
10...
1...
20...
20...
02...
Denmark Cen
ct A 8
2.... 111U
Heine 7s
... 03Vs
... D3V4
. .. 04
. .. 04
... 04
... 04 T,
... 5
28
Dept
1..
1
1
16
2
5
D Canada
1 9014
D Canada '20
2.1.... lOO'b
33.... 101
4.... 1014
1.... 1014
D Canada '31
1 OS',
10 08".
CO 084
7ei!e) 98 4
De Can B2s wl
E.... 100
in.... 100
1.... 100
li.... 100
Dutch n Ind's
rets '47
4 0114
4 02
4 02
American Sub
Itef's OS
10.... 100".
2.... 100H
1.... 100 V,
2,... lOOH
1.... 100
Amn T ft T elt
2 ni
25 01
A Tel A Tel Be
3 n7i,
2 n7V4
A Tel L Tel 0s
1.. 11IVJ
Amer W P lis
2 87'.
1 87-4
A T A 8 Te nj
5 83
A T ft 8 Te 4
3 8894
5 RHU
Atl coast I. 4s
10 H8S
15 88V4
10 81
Ksale) 00
fl 8814
Atl'e fruit 7s
1 4014
3 40H
1 41
Atlanttd Ttef's
ct fi'ia
IP.... lOHi
10.... 1034
4.... 103',
1.... 104
10.... 104
Dalt ft Ohie cv
3 81 '4
1 81
1 81H
10 Hi's
1 8114
Bait ft Ohie 4s
4 81Va
Bait ft Ohie 5s
8 01 14
1 01 H
8 011-1
1 85
Flak Ilub'r Ce
8s rets
1.... 100
Fram'n Indust
DeV 7i4s wl
00 H
00
OOi;
00 'i
no 94
oe
00
00 "4
Oene'l Blce Bs
1.... 10.14
Ooedjear T ft
Itub'r '81
10...
5.
2,
8.
4.
8.
2.
101
101
101
101
103
1034
1....
n
r.w'rr
Ti
10....
2....
Qoedsear T
Hub'r '41
1.... 1154
1.... 11BT
2.... IP)
8.... 115
7(sale)llB
1.... 110
ONthn It 5Ua
Uehtr'l Tram
ways Bs
1 8714
Merris A Cem.
pany 414
2 8714
N Ofs ft T is
2 77
2 78
4.'.... 7M4
2 78
HI 784
New Or Te- ft
Mexico Rs
4 (104
fl 70
1 en'i
N Y Cl't iw 4
1 004
N Y Cent'! Bs
05 94
nes
oe
00
ne4
00 -4
oe1.
00 4
ne4
Ot N'n niy 7a
108T-
1..
1..
1.
r....
it...
1...
1...
1...
1...
8...
48. .
1...
. 1...
Helland-Am' 11
I.lne Os
r. n-11
1' nudsen Ons 5s
10ST4
100
10S'4
108
ion
108i
10S9.
108i
100
108
IOV4
108't
Dalt ft Ohie Os
new
e
nn
00 s
00"!i
3....
1.
1.
.1.
1.
1..
no
05
1
1
1
1
Ksale)
4
B A O P L. E
ft W Va 4s
1 704
Dalt ft Ohie S
W'n 3V4
0 0094
2 004
BarnM'll Cerp
a 8s
1.... 100
Bell Telephone
of ra 7s
1.... 107ii
1 107'
1 00
Hud ft Man fit
2 8V4
3 83 S
10 b.1
1 839
Hud ft Man In
10 03 '
0 01
Ills Ct'l 4m '53
1 814
Indl'a Steel Bs
1 00
Info Met 4 'is
ns-t
OB, Beth Steel fd
05-,
n3H
(sale) 05".
Dutch 1 ted's
rcta '02
t 06
34.. .. OS,
1 ne
5 93"i
Geve't Trench
n 7s rets
1 01
10.. . 102
Beth Steel As
2 no
. . 102
.. 102
. . 102
Blev 1st
S514
11.
1..
1....
1....
1....
1....
10....
1....
1.. .
Geve't
10....
0....
1....
0....
Tim
1..
II U
1.
B r.ech P fls
2 100i
Canadian N 7a
7.... 1121
1.... 112U
Caiel'a CilriEli
ft Ohie 5s
intt: 1 01
inn,. Centl of (J 4
101 "' "9
' It ss
104 i
104 V4
101
10114
101
1011.
loin
10..
0...
11...
1-'...
1...
in...
ion
10i
in
i.-,
154
13.
4...
10...
2...
I'.'.'.
2...
13...
3...
1...
50..,
n.1-4
0594
ll'.'l
II',
05 H
05 '4
8 01',
1 04
Packard Moter
car Ce 7s
10.... inO'i
KsulellOH-i
fan A Pet r' in
& T Ce 7s
0.... 100
B...'. 10IIU
Pa R II Is Mb
1 mi u.
P nd em lV4
1 KU4
1 Ml".
I'cnna R It r.s
1 08'4
1 VM74
Pena H'd n't,.
1..
1..
10..
n
10!!
1..
1..
1.
10D
Hill H
100'
10!' 'd
1(111
loin;
111:1 1
100'
l.,
10.
.
n'y
0.
1.
1..
1.
N Y
0514
03
... II.'.'.
... 0'
... 03 '4
... 05i
... 05
Cent'l 0a
.. 102
.. 103
.. 102 Vt
.. 102V.
Cent'l 7s
2.... IOOJt,
3.... 100
N Yk Central
I. H'e flits
5 75
B 73
N Y Bdls'n Ce
094s rets
5.... 110
N YK Light II
ft Pwr G'
1 074
N Tit N II ft
It 4a '30
1 50
N Yk N II ft
Itnrt'd 0s
1 80 K
8 8014
1 80
a 01
N Yk Rljs 5s
10 11-4
2 12
N Y Tele'e '41
n.lHlPenna n It 7
I.... 108U
Peoria ft r in
1 27
Pere Marat Bs
1 OP
6 nn'i
Phils, Cnty fd
1 08
1 079,
1 (-nle)Ofli;
1 n?.
Ported Rwy ft
c OS '42
13 80
1 Ml 4
Produe A It Sk
a.... -1-2U
Pub Serv Cerp
Jay 7a
1 83'i
1.... 84
Reading Ce 4t
0 8!
nie Grande ft
W'n clt 4s
10.
3...
1...
3...
1...
1...
1...
Int M ct 4 Vts
10.
10...
10...
30...
5...
10...
te...
10...
Intbe
5...
10...
U
104
104 K
104
104
1..
10..
e
3!!
1..
Int'l
3..
15
10
141
14
!4-
H
14
15
14
T fd
. 74
... 74 ti
.. 74U
... 7IU
.. 74U
... 74t.
... 74',
... 74',
. .. 74
Acr'c Ba
SO
Cen'l of Cm cu
1... . OS it Ar vi.ri.. --
e... ....in. .... v-
V.V. 4 KS...U IS.
1 88.
Or'd Trunk off
Can Os rets I 7 t.8
10.... 10441 0(sale) 83
1.... 104 Ck ft O cv "
14 07-
, II7T.
Cere de Pas'e , ,-.,.,
Cep'r 8s ...,., ;. .i
n-m. '.' --- T.r-
CAOcv4V4a! I....'. 85
Int'l Tap b 5s
S54
'
1,
- 3
I.
'4 I
J
'4 I
4 !
I '
Ui
1
2 '4
I's
z
i
14
h !
14
214
1
!4
9s
!
t.
inch
172 Am Strs..120
S de 1st pf.le!)
26 Am Gas.. 72 'i
20 Am Rjspf 41
I.II'lec Ster.170
.1 Tkfd i-c S.2MJ
200tGen SItrs. 12'
lOOtHydraulic
Steel ... iri
43 Ins C X A nr.
2010 Lk Sup C 11"
781 I.eh Xav.. 7." "4
400t.Mid S Oil. 14" 1
ir.0t.Mld-. alp.. 40
04.1 l'eniiu RU 41i
."OtPenn Sbil
Steel ...
TiO I'lilla Ce
cum pt..
Sfift Plilln r.leu
401 de pief. .
IMd l'hila K T
10 Plilln Trac
1.10 Radie for
22.1tReadlng...
.10 I'nienTi.ic
445 U Gl....
20 de pret. .
lOOtVanadiiim
21 W Jcr . S
100 Yerk Rwy
IOW
net;
1.10
70
11
170
200
12
Nat
("lese che.
',1!)K. 1.
i.m . .
72UH-1V--
41 ..
170 2
260 'J
101 1 .
1-1 J M
h ehib
12
:is
20
2i's
:t4-s
et;
r.'i
70 Vs
4:;
4.1
re;--.
.10
no
241 '.
11
74ij
14'' 1
::d
4
12
:i-iVi
11
Vh
i.i"i
U1H-
ie
Hi
1
1-S
12 ..
US . .
20 .- "h
2!)TS . .
,::-,..
00 ..
sh- ;
Tfjlsl'-i
45 ..
n.14- U
no -fi'i
no 1
21'2..
Net chans made by comparison, with last
tab en N"V Yrl Muk Exthunk'e
Total saleb, t.377 shareB, cemiiire.l v-lth
11.17- (.harts jesterda). Thus fuithls
vvctlt, 00,541 shares. .
Jup Ciove't 1st. 1
t oe-4l r....
Jap Cleve' t 2nd Chi B
1 804,1 r,...
Jap Geven't 4.1 11. , .
1 70. .'...
5. ... 704 1...
K Belslum 11. 1 5..
'"' "2 IC D
-. . . . i. s
7((Uie) 10-",
4 103
I,... 103
K lleiB'm 7tjs
1.... 108
1.... 109t,
4.... 108
1.... 108
K llelK'm rets
1.... 107
1.,.. 100-,
0(iale)100 ,,
Klncdem Den- (. &'J
m.ik v;b t- i,
1.
5.
1.
1.
IB.
1.
n
l!
1.
r.
1.
17
3.
08
ns'i,
en.
5..
15...
us
2s-s
2!l-',
.".I's
00
i
7cVt
42
41
no
216
01 4
. . 01
ft Q 6s
.. 0S,
.. D8(
. . ns'.
.. os
. 0S,
Q 6VJS
. 105'
. 100
. 105
. 154
. 100
. 105'4
. 105
. 105
. 105
. 105
. 105
. Ie5
. 1054
I 0s '61,
..62
. . 82
. . H2'i
82 V4
1 03 9,
I S5
: as.
Julius Kuyser
ft Ce 7s rcta
1.... 101
1.... 103
7(sale)103
Kan O Ft S ft
Memp 49
'.'.. .. 701.
Kan c ft S Bs
1 87 "J.
K C T niy 4s
3 81
5 82
1 H2
L 8 M 8 3V5s
1 804.
Lack Steel "50
08 riilenlin Mil
1'lmr.lem I'en-I t P d 4a
mnr. ct hfl
0
1.,
a.,
10..
3..
L ft
1..
10 ,
Lnni
10
n
... ii'ji;
.. till
... tij
. . 02 v,
Msers 5s
. . n:.4
. 034
Ud It fd
70
C 5s
nn.
PHILADELPHIA HONDS
1000 Liberty 4th 4is 1038..
n000 niectrlc &. Pceiile's 4s. . . ,
4000 lrectric & People's 4s. . . ,
1000 Lake Superior inc fs
3000 Lake Supciier inc ns
1000 Plilln Klcc 1st .Is. . .
MOOD Philn lllec 0s
lets
lets
1)9.88
00
8
37 ft
ie:i:.
I 'let-1,
Uld v
k '1(10. compared vvlMi 178 S10 5e
Thus fat this wee!.. 1741, S60
i . . . ... . . .
tin-. . ' .. i.erruart
5 . . Ill Ins. '.'." v.n ?. 7
ivIIUIIhll 4411 Ls. m a m
a.... niw at pi, -25 I '' ;
- m'4 4 70-. .-I' ,i '
K of Nether- .." 70- 1L -N"h "Is
lands ct lis -J, -0,j '-.. IO-',
P.. .. 03-iciilcage Mil ft '"' I";'
2 2a T,l fa'Pcv 4a I f " jn-;
19 06 j,, 704 L "" J0-
Kingdom Ner. 5 70- Le s'ftHn '"
vtay ct ss -;;;; i;j -.... 10714
"" lOliJ
lit. 4 Inn'
15..
8'wialr SSL
""'Ce'Tj,.
? " Ms
2 e-J
8 .'n fir.-".' 1
'"" ..87
S'n l.ae LJ'-i
Sn ils'l'lway1,,
"J
-0..::: SS?
1 OJU
1.... tm.
1;.... fte 1.
Klalt) mi!
? W4
J MS
IIU',
em,
U'li,
R.
1.
4.
Sparta 4,
. I e
St-nd'd Oil of
Calif 7, "'
21.... jee, 14
Steel Tub, n.
" Am'a 7,
1.... 1111
Thlrd Ave k
7" ei
10..... ;.
jThlrd'Av, 4,
I 1 -314
Tidewater Oil '
V si evil
5.... m-u
Tobacco Prea.
...... (ITVs tie, a n --
1 07UI ., w '
neck Il'd A A!TNri7..Jr;
, li.-. ' "J
Loul'-. 194 s
1 8"
Rome Water'n
a esdn en
1 nor.
St I. I'n Mt ft
a r.iy 4a
LlKht Si
.... 10(1
".. tee
Union Pa0 4,
OH,
10 tilt.
' nil.
101
101
104.
104
104
104 V,
104
101
Kaale)1014
N Y Tclc'e '40
1.... 10314
1.... 105
III TV C '
Hest 4 '4 a
3 54
3 504
3 60
3 5014
2 57
Nefk S'n It 6s
1 88
Nfk ft W'n 4a
5! 87'
18 874
10 87,
10 87
10 87',
N ft "tVn cv 0s
1.... 10R'4
North Wettern
Dell T 7h
1.... 10(1
2 ... 107
3.... 107
1.... 107
1.. . 107
N Pacific T. 3s
4 O-M4
N Pacifle n 4s
3 h04
B 80
Nthn Pae 4s
1. . 89
N Pacifis n Ca
2.... lliii'i
3.... 100V.
:.... imi
&.... 100
Nth S Pwr (1
0.... 101
Ore ft Calif Ss
& 00
Oregon S Line
truar'd Cs
P.... 101
4.... 101
12.... 101
ore-w n n Ce
ft N Ce Sn
3 81
. 81
& n 5s
. 02
. 02
. 01
. 01 N
02
ft
0 m it -,-, ":
St L I Mt ft a 1 "- '
n ft O dlv -lunt'dbrir,,
? tnt' !" I'S'.
J.
0 8
r. h:
10 &--.
10 82
St L A S I a)
1 80
G 80
4 80
1 80S
10 80
1 80
St L ft 3 P In
21.
JO...
10...
5...
1...
ii!!!
1.... 1014
10.... 1081,
1.... lOSt;
llt'd niy I C
S Fran Bs
-' 8SC(
U S P.ubb'r Si
4.
4.
3..
6..
12..
1..
0..
4
60
r0
61
00
81
89
l)!l
"'l'l
u r . j 1. -n-
. e. 0 .' t .11 I
Serie.1 A
3 72,
1 72
18 7JVjl
1 72-,
St L A 3 Krai,;
Series B
13 87
St L e. 8 6 1 an
Series C
1 no
C 0'
St L Sw'ii is
5 78
San Antonie &
A.P Illy 4n
5 75'4
Pae G
17...
1...
Pacifle Tel
Tel Bs wl
1 04
U H Hub 71.
"" i a.... iek
8'VBS Smltrta
OS".' Ming 0.
'N I 2 . . 100',
C3'4 U'd S steel -,
I.... 101S
' . liil
1.... 101
2 . 101
." . 101
a .. lei'i
5... 101
Vn-C Chm lt
13.... 101
35(me) 100
Ksat) leg
4..,.
10m,
'-'.. . 100
.... 100
4.... 100
C... 100
11. ... 101
1 4iM-.l
e..k..i i t. .,'.. '. "''-
- -' r20 103'.
3 24 1T
Smb'd A L f J I r.
S 40
S 40
10
41
6...
Seab'd
4...
S
C
A L 0, .
Sh Steel II 8s
1 n
1 00
1 liO'j
Sinclair C Oil
Cerp 7a rets
1.... 100
7(salc 100
C... 100
0.... 100
Bteale) 100
2.... 100
B 00
7 (sale) 110
1.... 100
Sinclair C Oil
Cerp 7 'is
1.... Hil9a
10....
13... .
a....
B.
103',
IO".
10V,
104
101
103
10V,
10S
a H y Ce 11
2 ti V,
U'ctis n Tne C
J 05
We n Union N
10 fiJi,
10 t'i",
WILE 4VjJ
S 5
Wlckw'e Sprc
Steel 7j
1 00
Wilsen Ce lit
1.. .. 0(1
1 09'4
1 lO'i
lC-nh) n"i
Wll-en C TV.i
5.. . Id'."
23 . . I'D
1.... lll'ilphlrairn Mil a.
K Sweden flsi StP fd iu.
3.. . ion,
Parla-Lyens M
On wl
1..
4.
1..
0..
7.
r...
1..
n..
t.
04
05
a 114 ij
5 04
5 04
Chicago Mil &
8t P cv 5s
1 74t4
1 73t4
2 'CM ft
5h et
1:9
bS1
62 Vi
82;
82
821
Manatt Sucir
Ce ct 7s
1.... 100
1.... 100
Market St H'y
S Trim 1st
I Ml v.
10 00
Market St Illy
H Fiun 0s
7 04
N Wn ,,cn H Tal "
37 " OS'
104 - i'
h NEW YORK BANK STATEMENT
i-
DIVIDENDS DECLARED
VtVirnslta Tower f einpanv nuarter'y
pnfnuic i uu 3
1
per c-n' m
leht Company 'juar
mitnen paabi Jup
te stock of rxerrt ,'fiy 17
.ii. 11. ,m foal cimiuanv. quarterly of 7f
csntH en preferred, issable June 10 te stock
of record June 1
Amr
rly 1
1
MORE COTTON CONSUMED
April Total 446,849 Bales, Against
409,247 Last Year
Washington, Mny 13 Cotten con
sumed during April amounted te 110,
MO balrs of lint and 40.2HS bales of
linter-. innipaiPil with 400,217 of lint
and 4,227 of llnters In April last ear,
the ( ensus ,Jlurenu uiineunced today.
Cotten held April 30 in consuming
1 establishments iiii.eunted te l,l.V,21U
lmbh of lint and li.i.OH or llnters,
cimtureil with 1,31.1,700 of lint
i.i 'isr. nf llnters n sent age,
iiil.lli bterage and at ceiniiresn's 3,
"11 3-0 of Hut and 1 I's. 1.1.1 et llnters.
columned with .1,020, S I of lint and
311I, O'iO f llntirn
Iiunerls dining April amounted te
LIVESTOCK QUOTATIONS
(Mpwe, May 11 CATTLK -Hecelpts.
."00 head Compared with vietk hke lleef
rtcurs and Hhe ateck largely itead , hulli--'i(ij40a
lower, veal .alvts 7Cri$l hluhei ,
Hookers and teeders Infr2.'c lewer: week's
top bet steers KB L', week's ten pri.es
b ( rers. $7 75116 "'I. -ti Kern arid fied
pb J.7 2517 73, butchers $1 H'ltp' 25, ivn
imrs und rutters. $.1 lV(H 75, bologna bulls,
4 ; 0 -Ti 5.15
1KKJS IlrceiPts. 1"00 head .Merket
i smI active. llRht about sicud.' with Prl
daj'H averaire. Tep. Hill 8'.. bulk, $10 30
in 73, holdover lluht plkia weal, te lower,
paiklnir saws nhnuj; stna ly.
Mllr;ui' .teceipis. -e..u neai 'ioeay
receipt.
GAIN IN BANK CLEARINGS
Institutions Held $36,905,480 in
Excess of Legal Requirements
The actual condition of the Xew
Yerk Hearing Heuse banks nnd trust
companies for the week hIievvh they held
.30.00.1,RO in excess of Ipgal wc'tiirp-
nipiits. Minus nnu insceunt.s show nn
'pxpanslen et .2O.2!10.O0O whllp dpinnnd
deposits jumped S.10,010.000. The in
creased liabilities were overcome by the
Lecal Exchanges 7.6 P, C. Greater Kll of SI 1.301,000 In reserve credit
Than s3m. vjuL. 1 -. -.. I n 'he Federal Re.erve Hank, resulting
Than Same Week Last Year lln nn lnPrpnHP In the excess icserve of
I urther evidence of a betterment in .f0.100,400 from Inst week.
business conditions throiicheut the Details fellow
ceuntiy in general ii shown In reports
of bank clearings for the week, the fig
,iires compiled by the Commercial nnd
Financial Chronicle giving the ngifre-
Queens'I 0s wi
1.... 102
Ilep Chile '20 7(i?alel 104 Mid b ft Or 3
11.. . l2Vc Nwn il'taL ! 1M
5,. ln2'j te , 0S 5... . 00'
ci. m:!-. 7(M.iii'is r.'. . tun
r. . 102 rbi itvv'a r.s 1 a f.n
10 le.'i- .. ... hi I 7. no j
1 102 ChUaB-e Ulllenl I. . '111
10JI-. SU 4-s I "1" . SlO'j
fl(sale) 102 1 ". niIilvve li In
5 lOJij C It I ft P fd' 0 10
ltep Chile '11 , 1 H2 Mln ft bt I. 4s
2.. 103, 1 821 1 47'
Total.
."i-.HOO
-.7.681,0
Llbeity
Liberty
Liberty
Liberty
i.ineity
Lihei t
$7,883,000,
vestildav.
Oe.
31,jS ...
2d 4s ...
1st 4Mb.
2d 4V
3d 4' m.
4th li.s.
cempared
Thus far
with SU
thls vfk
lllsli
0JI.2S
00..10
'.I0..SS
!)!).00
1I0.SS
!)!).!) 1
00.21
DII..10
00.70
00..12
00.1)0
Clew
li') 'JU
till.."')
IlD.V'i
Wl .'
ii'J.Sl fl!).fiO
Vic Xetes 4 s ..100.00 100 30 100 30
Financial Briefs
. 1 .1.
,..'. 1...11.
. , I.UI.V
ItllU 111
ecelpts direct te packers. Compared week gnte for the entire country as $7,274,
it.u. Prices niestlj about Jl lenci, weak 10(13.50"). ncillllst SO 3.14 7I1! K7H tl.le
ulk prices Hi.rlnir lembii, $1131 50 horn 1 ' 'iTi'. t , J!,i - .?'"' ' ft r ' ,,S
ambs $12 6013 75. ewes, '. BU'e 7.50, week last jear, or u gain of 14,5 per
uHili.r, ,h r.Uil ti. jearl ngs. RllTtll.
f vv vvoeleil fed lambs up te $16 30: shorn
fcedltuT Umbs inestli $10 If 10.50
AVI-RAGi:
This Vk
$21, SSI S20
511-1,613 OHO
Inst Wek
fn, 740,000
r.n, 7:1:1, turn
rlttsbunth. Jfa 1.1 HOOS It-relpts.
1BO0 head btead. Jleavles I10.8010 00:
. .. s . 1 .. . a 1. rm iiunr inrncra xii 1 1 nn 'in
1.1,11.1 baleb, compared with in,7!il In Su-. ' ie aii. ""'"
Ann Inst. tear, i.xperts uuring April Miuur aimu i.s..w,n iiTCripu. ioue
cent.
Philadelphia uurt one of the niilnu
reporting an increase, thp total being I'"'T" '"
$334,000 000. compared with $310,28H.. ,bXr"
eyvf 111 uie eiirrehpunuing wceK In 1021. llerles
'Comparisons follew: iNt,.'le
4,6lll 142.0OO 4.555,000,000
01,000,000 01,063,000
640,430,000 620,043,000
LtV
1;
Tlank
BANK CLEARINGS
rlearlns"
1 .....I - HID l!r.ll l.nlft lnln,llni.lli.arl
nmcj iiiieci 10 "-."'' "'". '",,"''','; ' iirnl. 14.
teUay cgmrerfd ivttli cer
two M-Mri
...Rfllni daV Iflflt
"""' 1022 K'21 1010
W- 1..1. . v v..i. .. .. .i 1 .-
"ua T"i-C4 ci nvn aujiv vvun j.-iuiivu 10
M 1-82 per cent. This la practically
frJKV6 for tlie Canadian dollar.
f 11 1 1 i t' 11 iiT.n!vn niTr.TATTt"v
aerllrir IVunnu T Iru 1"! lIMnri
'HVPCM-IMCI 4.U4, II (HIV, 5 J3Vj SN On
1 TliClKJ .I.... 4.44H 0.10 5.20 3S.05
m
fjptOlAY'a OP11NINO CJUOTATIONS
il ySw bterllng- Pranca I.Ira CilMem
4 . .4 I'.H'W 3.21 38.55
tit
a
tsU-IIni
mm
Ss.OU
. . .4 .,...- .....
... I.11T, 1..4IV, U.-4 71
CLCWINO QUOTATIONS
f-tarlln-r Franc Lira HulMera
ItlXb 4A B.12I4 3.25 fl8,0
V.I3
..'.'0 3?.O0
l'hila.
Hesien
N.
$7l.nen ene Jfie.'iOK 47.1 183 H6.81r
r.2 een 000 41I.S8J Mi7
OsS.600 010
U. S. Certificates and Treasury Notes
Int
Itate
t-4"i June,
it'll June
t3 AUK..
1' SHpt .
-.'; h. ut
3 14 Oct .
1414 I"
.,41; Mar .
t5'4 June,
Maturlne
I)ai
1:1'.
44
Hept.
ar.
Mar
in.!
iiuj
1IU-'
1U2.'
in.'.'
10. "j
ID.'.I
11121
in. 4
1IU3.. . 101i
IV'J.. I'll -4
nid
100 1-12
1110
Kill's.
100 5. in
tin) o-ie
ion
in"';
i.Tiirj
I
i ,
in j i.-.-in kit
le'j'i loti-ie
Asked Yield
100 8-3 J .'I 03
100 3 111 .'! 15
100 13-3-' 3 2U
1011 7-1 11 I Jj
llKI 11-10 3.21
Kid 1 111 3 II
ll'il". .1 40
ion", a 17
4 n
i.i"
mi, 4 2
101 4.21
Steady.
11 Mrs boles of llnters, compared with 1 ' cAl.vr.s-Itecelpte
310.033 bnlis, liicludlng 4c lb of llnters Tep. $0.50.
in April Inst car. F(!IBt un-no, n V..siay 13.
rnl.n ......,)-..,. rt -..Inrllen ncrlve rlurinEf n.ini, V7.1 harl. Steadv
,111- liuiii.. . ". .- -- : - . 'iV,",.;,"n... ,
Apul n"mbPiPd .u,;svj,-:;ii. compared
with 32,507,45:1 in April last year:
loe sheep, 18 50; top I
100 head. Steady. I
Steadv
150
CATTLE
h-ad. rifty
Reserve Banks' Discount Rates
nitip'ni radltceunt rates at the twelve Fed-
leral Hrve Kanksare fttone
ctl uenns i-apr Acceni,
r? 3
S!7
CALVES It-celpts.
ernes neiner. eiivii
HOGH Itfcelpts. 4000 head. Slevr. Steady
Jn '10 lower. neavy rnnen and nrKrs.
$11 10: IlKht. de. .and, Pisa. JllOn 10:
leuchH. 10, staas, S6((0,
H1ILEP AND I4A.MHS HecelpU, 1000
head. Slew te 60c lower. Lambs, 313,
ewes, 1208,
New T'l
Chicago ,
I'Mlll. ...
Ponten
Kansas C'y
tfl Francisce
1 Pittsburgh
Detroit . .
Ilaltlmere .
N, Orleans
1032
13,58 Aoe.oon :
148,235,838
311,000 000
232 O0O.C1OO
102,102,813
1 ii noe.fifio
111,500 000
78. I12.H71
M 447.231
41.7S1.0J7
' si..nt funm Vrlrsil ntirtnB.1 InrArriA 1 w
tAccfptabl for pfument of Inreme tax duu
-. ,BSlt-ll
CUV li v "'Mt-'tf
DoKten
Nw Yerk
PhllarlelphU
Clev 1 land .
Illchmntid .
Atlanta . .
ChlcaKO .
St. Leuis. .
Minneapolis
Kama City
palls" ......
tap rrarict-cn
!
IVi
4Vj
'?
.... 4
.. 41-5
.. at4V,
...4Vi
.... A
4',
4
4
4M,
4',
41
4'
P
5
8
44
i'.i
4 '4
4
S5
4 '4
Fewer Failures This Week
New Yerk Mav f3 There was a derrease
In the total number of failures In the United
States this week, as compared wlih that
of, last week, accord ncr te the reports re
ceived bv Dun'a Ilevlew. This week there
... 408 insolvencies reported while ItCat
week there were491 and durinr the corn-
1
spei
she
ndlng week".
own.
in 1121, 383 default were
.... Increase
1821 p, c.
:.n58.fl27.221 51, a
41A.840 800 7 R
810,288,1100 7,n
227,171.808 10 0
118 11(18.4(12 .ma
121,000,000 -21.11
lun.iHti.sw 3.1
78,235.144 "A
01.487.828 ei.7
30.104.803 0.0
Tet all cities
for week. 17,274 003,303 te 834,768,578 14.5
De9reaae, tKstlmated.
Ne Change In Raw Sugar
New Yerk. May 13 The raw in... ...
ket was unchanged with Cuban quoted at
2 7-10 cents, cost and freight, for Miy
shipment and. at 2i cents, cost and frelvht
for June ehlpment. In addition te sale,
reported yesterday, Canadian Interests pur
chr?..8000 . b" Cubaafer May leacllng
at 2,876 cent, f a. b. Canadjan Interest!
lae pulehaaed 080 b4t Columbians, afloat.
aJJ.?!iA,i- ' TH,rflncl rear.
rini ns-t" ipviipiifiiij
Lxrebs reserve. ,
AeuregatH reserve
1 eans etc
Cash hi vaults
14 n d member
banks
Ileeerve In mem
ber banks nnd
reherve LankH,.
Iteftrve In Htat
hanks rttirl trunt
rempanlts , 7 773,000
Mate
trust
pany aepus-
lu.ao.'.nue
tlnmanil de
posit. l,0J.1.003 00O 4 051.207.O0O
u..,, 1.7., ..."' en,:. 7W). nun
..,,. .,uwr
,007,000
10,121,000
Time deposits..
circulation
Un'teil States flc
dueled
60 210 000
ACTUAL
Thla week I
03. 4 sd
BI,,IOl),UOe
02,858,000
Laet week
10,78(I.OJO
670,1 12 00(1
"J9.V1C.U00
03,103.000 01,818,000
500,082,000 531.701,000
I-icess reserve .. HI HO
Aaurncnte reserve 684,11-1,000
Leans, etc . . .4.3S7 307,000 4
Cash In vaults
and m 0 m t u r
banks f
Ileaerva In mem
ber hanks ant
reserve banks
Peserve In Stale
banks nnd trust
cempanlHs
Reserve In State
banks and trust
company deposi
tories Net demand de
posits '4,121,512,000 4,001,800,000
Time deposit ... 814,810,000 ,102,885.000
circulation . .... at.eau.uuu
U. B. ncpeaits
7,763 000
7.841,000
10,318,000 10,800,000
il-ducl.l
30,730 OCIO
31,230,000
00,3(12,
ltep Chile '40
3.... 1054
1.... 103
Ilep'e of Uru--may
8s
5.... 108i,4
Swltz'd Cen 8b
1.... 118
1.... 117 V)
10.... 117,4
U K art Urlt
& I'd 1022
1.... 108
4.... 108
1 108,
10 108
U K Ort Urlt
t I'd 1021
.1.... 108
3.... les
7.. . 10S
il.... 108
J.... 108V4
U K ort 11 1
It I'd 1017 I
1.... 102
u a urazu
100
"41
IS t
Chi Ter Ilaut
iSE'i
1 83141
Chile Cep'r IhI
1...
1U H
00 H
0014
8 no
Cem Cable 4,1
.'1 .. 73
C Tab & II fls
1 ... 03
Cens'd Una 7s
110
Cubi Ce Suk
h uta
10 .... 83
Del i. Hud cv
1 00
Del & K 6n
10 (l
10 im
2 00
O.n ". II CI 4s
2 .... 78
3.. .. 70
Htl,
:i.
1....
47
fd 5n
40
40
40 4
M StP i H Ste
Marie 43
10 SS
M SIP 4 s Hte
.vinrle 4 y. s
1 ... 102',
M StP i. s fate
.Marie 5s
6 00 V,
M K & T nj wl
20.
10.
10.
10.
10.
10.
12
10.
5,
!l
10
1..
1..
1..
4..
14..
0..
100
100
105
103
lOSij,
(sale) 10S4
1 100
U S Mexico 4 s
1 51 '4
54V4
55
16 64 '4
3 . 31H
U 8 Mexirn 5s
1 (15 14
10 00
Adams Kip t,
1 70
1 70
AJax Ituh'r s,
10.,,. 102';
1.... 102
1.... 102 V,
Amn Agr'e &
Chem D
1 04'.;
,Amn Agr'e ct
Chm 7W
B,... 108U
Am ? oil Bs
L.,s. UH
50
60 '4
601-j
60'i
60 "i
00 14
Mi,
60'i
nn.
6ll'i
snt-
D L n a 4Ub.M K 4 T jt ,
5 82 50... us!
Det Kdl Ce On I 1 ,.nu
1.... 102i'M IC 4 T r.,, ,, 1
Det U It 4.s
1 81
1 S2'4
D de Nemours
Pender 6V, a
0.... 107
1.... 107
Dui Light Us
1.... 108),
6.... 1031
Empire Qas tt
Fuel 7 H
1 nsi4
3 08H
1 nnu
Erie Oenl l.l-n
1 63
34 51
0 51't
I'rle n II cf II
0 4014
Crlu II It cv I)
! 30 y.
Krie n 1st en
7.... 104U
Krie IIR Ce 4
0 834
Erie Mr a
li.,-,. 01
10.
5.
81
81'
C 834.
M KtTlli wl
3.
12...
6...
7...
a...
Me P
7...
14
.. HO'.
.. 60 14
.. (HI
.. mi'.
. . liOH
R U In
.. 04
.. 044.
Me Pae 3s '23
8..., 100
1 100
Me Pae 6s (13
4 8S
4 88
Me P It It fls
... tee
10,
3....
2-
10
1
, Sdale)
100
no
100
09
00
OS 44
H
08J4
Wright Acrennutlcnl Corporation for '
the ciunrter ended March 31, 1022, re re
pertb net earnings of S173.17S nfff
taxed, which includes income (rum
investments. '
Repert of Granby Consolidated Min-,
ing, Smelting nnd Helloing ('erapiilir
for the jenr cneded December 31, tlieivi,
dellclt, after tnxes, cleiireciatinii nnd
charges of .'J287.102. This empm'l
with deliclt of $1187,011 in the pievleii
J ' i". . ,1
A dclicit of S207.0U rcsiiltul f ren
1021 opeiMtieiis et ('ullicj.MIjil ig,''01-1'
...nt. r.tiir.i, :i. ,1 ln- ,ii .s.'i.'ii).7 11 11
l'..ii, fi... ."H .. - .
I the previous .veir. The liilm' prmhic-'l (
lli,OliO,Jliri peilllils el line mm"..
against 10,210,070 pounds in IOJ0, but
for the metal bold the 1011111.111 if";
1 ecu eel nn uvPiage pi Ue et but !'
cents u pound tigiilnst lO.-c cents m
1020.
The Mutuul Oil Cempnnj'b nimujl
report f-hevvs net Income of M,'-.i7,lw.
M'l,... ...... (.r.'K! r.s.Vl unl iisl.ln ns rpsCltf
for ileorpeiiitien nnd deiiletleii ane
$.048,745 wiis written off ns depreciation
of inventory. In addition S73t,()SU via
paid in dividends, Hum causin,
ellne in the pieiit and less Hiiplus fremc
S713.210 ut the cleu- of 1920 te $(KV
540 ut the close of 1021.
Packard Moteicnr Cemp.inv litis ft
tired $1,000,000 of its ten-.vear netcl.l
lc'ducing the anieiint outstanding 0'
At,,,, in ., q o.-ie nun In mlilltinn. tut
company has Tin r'ensed its investment''
I., I'.,i..l sitnc.u I... . i.Ij : ST. 700. IK 0 era
Mny 10 cash en hand tcTfjleil .flOT,-,
000, compared with fj.'i.y.w,""" n..
,uv 2S. ' Packnid could liiiildiite cverT
liability today out of cash and '"""..'i
able seciiUtles und have 3,Jib,000 cart'
lPinalnlng, .
The Strrl mid Tubn Cempanj el,
Aniciien repents for 1021 a le-s el ?-
r.n or... ..f,... ,. Cnl.list. (1
nrnnlnClen ...wl ullt-lllklll'P Ol OfO 101
, .,.,., 1,.., i., .,.m.nLi in ii net ItlCOUtC!
of .$0,315,200 in 1020. The deliclt
Increased te $4.7l2,h20 ufter pajinen ,
nf its cominen and prefi'iH'd, "l"cK S"". '
(lends. According te the balance blieM. ,
accounts nnd notes leceiviib were K
lured by $.1,810,17110 &. ...B" aw
inventories dropped , ,1.$..'" ,u'
r?15,tM7.3.10. . . , ,n.ntI1
Tlie 11111 niiee in -j rnils-.. .)., -
Oil the last few dnjs calls nttrntlen"
..... --. ...... r .....,i e i iiniiianji
new luci mac i.i-i'iiu.'. - , im
whlPh is effeiing 200,000 idmu-s of l -,
mock mr puiiiii' siiuN-ui'iivi. - v t
share) tin. nigh sevptnl Npvv )erk s .e .
exchnnge Ikiih-ch. owns mi undivi eel "''t.
Interest in the limited tinct of !"."'
iipips. TIip propel ly was icasiu ""J
Trnns-Centlnentnl by the emTi3 .
nloratlen Cemnanr. the Trana-LeaH,.
nental In turn asslfnecl a 51 per
Interest in the lease te the Standard i
Cenipany of Cnllfernla, "
7
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