ii..iciAMiwnKn$inHBBHr viMmrFKP i vetstisaaiaamemv wissnassMasjiisjsstTis
r.Yv "n'W" ie"'vv'ys" .jr-"fcw- - - ,'5if'M?,i:i?TK', '"!:,?r:rw iXTffTTOW 'jjw vvsiiAtfivmw w:rv..v?.7tewM -,- Cv .y.;,i r, : r:vsrvmmr ,rm
' -z ." 'flWiBS
7&r:m? ik v
''
h ,.... i
W'.
EVENING PUBLIC-LEDGER-PHILAJPELHIAJdilJi'liAJC. wax -lp, xv : -.,T.p, ,,, ?..w,t!-;,m
I:
t
Ck
M
tm
L'n C
u&
niCI
r
Cmtdian Benis
I
fS?I? Descriptions of 'fifteen
' IT II rMMni:tM isCAia nra
contained in our May
Bend Circular. These
include Dominion, Pro
vincial and City bends.
Pff
WV
f&
fifc
V
&
f
Ask for Circular F-ll
Harris, Ferbes & Ce
Pin St., Cor. William
NEW YORK
PHILADELPHIA OFFICE
Widener Bldg.
Telephone Spruce 7040
: ' ' r- rz r-7. r rz n ru ininmi v ''',si;wyi.
' . t t ' ' MMk i k'M t MMMAtIB II V Uini'LMulllU
NEW YORK STOCK. EXCWANlifc HCAiNSAUiiure r A. rtHuLU Uli
a a ti ni u -nil - k . . i -i- i -
1 .ITTa, Ulli V - "i va n a a s ' ST i TT HI .. SB t T - j- J I 1 J
,v -r -ft.-yuj-jsa-...- r , .- ukH n musk . truster
PRICE MOVEMENT
VEI
Y CONFLICTING
Strength of Rails and Coppers
Helped te Check Early
Reaction
PENN Public Service
Corporation operates
in industrial territory in
Pennsylvania, serving ever
fifty communities.
We have en hand bends
secured by first mortgage
e n electric generating
plants and ether proper
ties which we offer at a
price te yield ever 60 en
the investment.
Free of Pennsylvania
State tax.
Details furnished en request.
HARPER -TURNER
Investment Bankers
MemSerr PMttatlpMa Stetk ExcttMntr
STOCK EXCHANGE BUILDING
mtmnfett
Philadelphia
Jttadint
SL
Spruce 8200
The Francisce Sugar Ce.
1st Mtge. (Closed Mtge.)
t 20.Yer 7V.
Siakiag Fend Geld Read's
Ua(d Mnjr IS. '23 Uqe Mar IS. '4R
rrlc 100 an Int. e rkld 7Vi
WECCK1TIKS PEPARTMBNT
COMMERCIAL
TRUST COMPANY
Mrmbfr Ftdtrnt RfrrTe Sratrm
City Hall Square West
New Yerk. May It!. The coniplcu ceniplcu coniplcu
eu tvevl(U'il charnctcr of the trailing
In today's Kteck innrkct demenitrateil
tliu ptrdemlnntlnic influence of the tech
nical noslllen ever onlslde condltlenM.
I The ilay'a nieveinenta were, In cennc-
Inucncc, extremely Irrenuliir, If net con-
jtllctltiK, as nt dlffercnt-intcrvalu Mecks
of the wiinc RreupM were moving in con-
triicy direction. Dcuplte the churn
ing of the general mnrket, numereim
lnsue reached new lilgli lcvcli for the
jenr which were innile inrge'y bccniise
of renewed peel nciiviticti.
Seiiip effort wn innde en the nnrt
of the renctlenlKta te make cnpltnl out
of less fnvernble npect of the uenea
Conference. Tim foreign exchange
mnrketn, however, ignored the lew
premising outlook, and it wn vcnMbly
agreed it that hencltlve market te po pe
iltlcnl eventH was dlxpefed te accept
Htirfnce condltieim calmly there wan no
reason for any one going off the handle
from the stock mnrket nug'e.
Contrary te general expectations,
the nmrke't opened extremely Irregular
If net reactionary. After Hatuidny
exciting bulge In the steel, a red het
bull opening was generally looked for.
IMdently, tee, ninny were ready te take
advantage of any beet in the Initial
dealings te cash li. some of the ac
cumulated paper profits. There was
i-eme piling up of bu.Ung orders e-;r
Sunday, but these en the selling side
overbalanced. There was in conse
quence some rnthep shnrp icactlens
among recent leaders, particularly the
steels. In fact, selling of the independ
ent steel slinrcH continued lulkl
throughout the entire first hour, ( ru
clble. Vanadium. Vlrginln Iren, (lulf
Stntes and United States Steel regis
teting les-es of 1 te almost li points.
On the ether hand, Sloss Sheffield
added .' iH-tits. te Its recent steady nil
ance. and Hjdraulic Steel and Ick-wire-Spencer
also strengthened.
About the same mix-up occurred In
the oil'. Mexican l'etreleiim, Oenprnl
Asphalt and Producers and Hefiners
were among th" lienvy members of that
group, while Trans-Continental was the
.iitutnnilln fintiiri nt Htrenuth. rising
linnre thnii ' iielnts en very heavy deal
ings, which were attributed te Inter
ests closely allied with the Standard
Oil party. .
The reactionary tendency of the mar
ket became mere pronounced and a re
cession of n point or mere was made
bv meBt all of the active speculative
leaders. The .'H per cent opening rate
for cnll money, however, exerted n
IsteadUng influence and later helped n
general rally, which as led by vigorous
demonstrations In Heading for the rail
group. Kennecett, Utah nnd American
Smelting for the coppers. Se, by mid
day a large pnrt of the morning s re
action bnil been retrieved.
Commodity Markets
&',
fe
"
KMtMHUISiU
R-.
THE FRANCISCO
SUGAR COMPANY
lit Mtg. 20-Ttar Vh da 1942
Prki 10 - iatcrtii,yitldiag7Hre
W1THERBEE, SHERMANS
COMPANY
lit Mtg. Stakiag Fad 6i daa 944
Price: Mtt - iittrtit.yiildinf 6H ft
SOUTHERN RAILWAY
COMPANY
-. Eaaiaant 5i, Ut. W, dot
May 1, 1924-M
Prica: Te yjild 5 M te S.40
Fmrtktr Fartirahra fi Mvalicaliea
BIOREN&CI).
Kt. IMS
410 Chestnut St.
Member of Xeu Yerr. And
Philadelphia Stock isianee
m.innniniieiii,tim,,.,..,5
uuiuLiin-u-Muiug)j
GRAIN MARKET
Chicago. May 15. Wheat was nerv
ous and easier at the outset, with the
Mny price down lc from the final of
Saturday, while the new crop months
were off tec te lc.
The feature et the market wan a
communication sent Saturday by .lutlui;
II. Uarnes, cx-presldent of the United
.- r--Ml rntuirnftnn. tn tllp Clll4
cnge Heard of Trade, in which he ad-H
vised the Chicago oeani iu iuiiuuiniy..
('etdarc that no legitimate hedges with
wheat In uny position net naturally
Lihiiiim for actual dell cry Jn Lnl-
cage need fear u forced settlement en
Mnv hedges en the termination date.
The ether markets were quiet but
steady, with ery narrow fluctuations
either way. ,
Previsions were firmer en an ndvance
in lic hogs.
Prev. cloie Openlns
V.U. .. ..,
04 , 0U
00".
My
July ...
rtept. ..
Vheal
May . . .
July ...
Hept. . .
Oats
Mny . . .
July ...
Sept. . .
Rye
May . . .
Klbi
May . . .
July . .
Sept
l.anl
July ,.f..lt.jO
im4
1.43
l.-J
37H
40
1 1. M.
01
U4tt
1.43- ni.4IV4
I...', Wt.'-MV,
1 181.18T4
30H
.;
ae54
4US
1.094 D
12 M
ii.oaCi2.eo
11 .15
1.4a
1.24T4
l.lUh .
a-4 .
Mil 4
41
1,00V B
U.0T
11.95
TtlBHlai01 j
' WE Own and Offer l
M 111 Mil
4 Mohawk & Malene
, . 1st 4s, 1991
fefcf 4 lyl These bend ure rnted AA.V II
EM' ,i IHI Ir Mccdy and nre tux exrmpt
fr,, t, HI n I'.nnmlruiila. IIS '
t&lv w I
6T"2 , jl!ril III
faW-U Wihnu Bum. PMi-aeumtA I
KV'f"' L-. fJbmrkOditxS-m I
W ,a . ...
L !ifjS- T
COTTON MARKET
New Yerk. Mny 15. Cotten opened
active and strong this morning nt an
advance of -4 te .11 points. Henvy
buying by New Orleans and Liverpool ,
en reports of further rains in Texas,
sent prices close te last week's high
levels. There were reports of n h-nvj
rain at Dallas. The Mvcrnpel cables
came linn nnd considerably higher than
due At the advance, commission houses
and local traders took profits, but the
..t..-i.,-- inn well absorbed by new
w.l. -mi,,.- - -- --- , ....
iicivuniiu iuinii-1
buers anil prices
after the start.
Prev. Clnne
Mny
July
Octeber . .
December
J inuary .
March . . .
J0.H4
111.47
111. .11
111 M
111 4J
111 41
Opn
.0.0.1
10.7.1
1U.7.1
10.7,1
111 OS
10, OS
1 P. M.
i'o.eo
.11 OS
L'O.UT
ie!6i
IT
1
J.
i)4W.
Alffs.
..Tttf
,Vm '
J&te'V
iy?sSi.
fev-iil
rica Cat Ca. ' 2011
;-Mh-aitea,4 Ckaitir Tractiaa.C'i 1923
lAfaSaa-eard Still Cera. T 1923
j.VtPt-L . - a a- . ak-
,'1 Tare Maata, laaiaaaaeui at aii ins
9Mta-tl4 Wattr t. .oaiel....i lizs
North SariagWd Watir Ce....5i 1928
PaL Cty. Railway C 4'i 1949
Pake. Taak Use Ce. E,ip...AH (unit
Aaaricaa Eailway Ce,,, AH Imiii
AaMricaa Piaa Ceait Sacar. Pfd. Stk.
ij . .. ... . .- , .
SAMUtL k. rtiiLLir. & tu.
tVaaiWra rblliiilrliinni istarK remans
S07 CHKSTMJT PTKKKT
NEW YORK COFFEE MARKET
New Yerk. May 1.". Owing te the
holiday in Hru-tl. there had been no
official cables te the exchange up te the
hour of the local opening. On the call
prices were unchanged. Trading was
ne-leeted. except for a wile of two lets
of Ueiemecr nt .i.u-c
Unte in the forenoon a special cable
jeperted the ltle term market inclmngcd
te a dwline of 175 rels. ltle exchange en
Londen l-:vn 'g", " """"'
rate unchanged. This hnd little or no
effect en local sentiment. At any rale
demand was , net quickened, nor were
offerings increawil. The market at mid
day was dull and trading confined te
I December nt 0.00c.
Prv. Clem Open
t..i.. in .jwjj "ln.in
.. . . 11 MT.FIIII
Keit?nner ".. s.:
Dlv.
Snlpa In t STOCK Hluh
300 , n Advance rtumslv .. 1714
.. Alnakn Geld Mine,' T.
. i A'nska Juneau O M 1 H
4 Allied Cb.m Dye 60
4 Allls-Chftlmers .... 49
.. Am Agrle Chem . 99
4 Am tlnnk Nete .... 70 H
.. Am Besch Magneto., 43
4 Am B 8he Fdy new 01
.. Am Can 47
12 Am Car Fdy.. k. 1591.
'. . Am'Cotten Oil '. 29
. . Am Drug Hyn . . . , . BH'
.. Am Hide Leather 154
. . Am Hlda Ltath nf 69).
7 Am Ice 1044
. . Am Internnt Cerp. , 44 H
1 Am I.n France Eng 13 W
.. Am I.lnaeed 33 H
Am locomotive.... 114
7 Am ..ocemotlvo pf .118
4 Am Itadlater 98
.. Am Safety IUser... 7
. . Am Ship Cem.... 7714
.. Am Smelt 60 W
3 Am Steel Foundries 39
. . Am Sugar Ret 78tt
.. A9n .Sumatra. 34 H,
.. Am Sumatra Teb pt 604
9 Am Tel ft Tel ......1214
12 Am Tobacco 139V4
6 Am Tobacco pf newlOI H
12 Am Tobacco B.... 138ft
7 Am Woolen 92
7 Am Woolen pf . . . . 106
. . Am Zinc Ld ft Smlt 18)4
. . Anaconda Copper.. 53ft
6 Asse Oil 127
6 Atch Tep & San Fe. 100
5 Atch Tep ti V pf. 91
. . .Atlnn Blr ft Atlantic 3 J.
. . Atlnntle Fruit 4
...Atl (lulf ft W 1 S 8 35ft
. . Austin Nichols .... 25 U
7 Austin Nnrhels pf , . 84M
7 Bnldwln Ixcometlva117
. . Baltimore ft Ohie . . 47
4 Unltl ft Ohie pi .... 60ft
. . Barnsdale Class A. . 45
. . Bayuk Bres 49
5 Bethlehem Kteel.... 74ft
6 Beth Steel B 80)4
.. Brit KmHtl 2nd pf. 274
. . Brooklyn Kdlsen rts 2ft
.. Bklyn llapld Transit 23 H
. . Bkn R T ctfs et deb 21 4
. . Brown Shee ...... 46ft
8 Burns Bres A 134)4'
2 Burns Bres B 404
. . Butte Copper ft Zinc 6J4
. . Butte Sup Cep .... 31 V
.. Cadde Cen O ft R.. 13ft
6 California Tacking. 79
.. California Petrel .. 56H
.. Callahan Zinc .III 8ft
10 Canadian Pacific ..140
.. Central Leather .... 38)4
. Central leather pf 70
8 Central of X J .... 1 88
.. Cerro-de-I'asce .... 38 K
. . Cert.a!n-tccd Pred . . 47
6 Chandler Meters .. 73
4 Chesapeake' & Ohie. 65ft
.. Chicago ft Alten .. 8
.. ChlcaKe ft Alen pf. 16
.. Chi ft B III (new).. 39ft
.. Chi ft E 111 (new)pf 55 ft
.. Chlcnge ft'Or West 8ft
. . Chi ft Gr West pf . . 21
.. Chi Mil ft St P.... 26
. . Chi Mil ft St P pf. . 42
6 Chi ft Northwestern 74 ft
4 Chicago Pneu Teel 65
. . Chi Reck Isl ft Pnc. 434
7 Chi RI ft Pac 7 pt 95ft
.. Chile Copper 20ft
.. Chlne Copper 28
4 Ceca Cela 57
.. Cole Fuel ft Iren .. 35i
3 Colerado ft Southern 49
G Celum Gas ft Klec. 87 ft
. . Celum Ornphopheno 4 H
.. Cel Graphaphene pf 16ft
4 Cemput Tab Rec ..66ft
7 Consolidated Ou ..117 ,
.. Consel Textiles ... 134
4 Cern Products Ref. 1004
COO
4100
1400
200
500
100
100
'1 0
500
100
4600
400
700
12Q0
100
100
"1300
600
400
100
300
400
700
7600
700
200
1000
100
600
400
200
200
600
100
200
8100
800
1000
300
100
100
400
100
100
5200
3900
201
900
100
800
7900
300
400
1800
400
800
700
700
330
1800
103
100
200
4000
100
2700
200
100
32 0
100
400
200
100
100
1500
100
100
100
200
100
500
100
3000
500
8400
100
200
100
200
600
100
100
1700
300
300
500
68)4
49 39
70ft
45 -'(61
47 ft
ft 27ft
ft 9ft
131
104H-
44J4
13 33ft
114
116
17 -
4900 2V, Cosden ft Ce 434
11100 .. Cruclhli. Htret 76
100 7 Crucible Steel pf... 93ft
200 ...Cuban Am Suijnr ..22ft
100 7 Cub Am Sugar pf . . 93.
1000 ,. quba Cane Sugar.. 18'
100 .. Cuba Cahe augar pf 34
1100 .. Davisen Chemical.. 59 H
400 ft Del Lack ft West.. 118ft
300 1 Deme Mines 274
900 5 Eastman Kodak new 77 ft
1500 .. K'cc Ster Bat new. 43 ft
2500 5 Bndlaott-Jehnson . 84
2200 .. Erie 134.
700 , . Erie lat pf 22 -
200 .. Fairbanks 15ft
1000 8 Famous Plaers L. 81ft
100 4 Fed Mln ft Smelt pf 44
100 10 Fisher Bedv I '6ft
200 g Fisher Bedy of O pf 95
100 .. Flsk Rubber '8
26800 .. Frecpert Texas .... 20
100 .. Oasten Wms & Wig ft
1500 .. General Asphalt .. 61,ft
100 8 General Electric ...163
8000 ,. General .Meters .... 124
100 7 Gen Met deb 7 94ft
7700 .. Oranby Cen M ft 8. 29ft
900 7 Ortnt Northern pf. 75'
2000 4 Ot Ndrth Ore ctfs. . 41 ft
400 . . Greene Cananea Cep 31 H
3500 .. Gulf State Steel.... 86
100 .. Hnbershaw Electric 2
100 .. Hcndee Mfr Ce ...20
100 .. Housten OH 79ft
100 7 Hupp Motorcar .... 19ft
12300 .. Hvdraulle Steel .... 10
400 .. Hydraulic Steel pf. . 39 ft
100 7 Illinois Central ....105
700 . . Indlahema Ref .... 4ft
600 Indian Reflnlnir .... 8ft
2700 . . Inspiration Cen Cep 41 ft
600 .. Inter Cen Copper.. 2ft
500 .. Interbore Cen Cep pf 5ft
100 .. inter Aurlcul pf 40
100 5'- Internat Cement .. 37)4
100 2 Internal Cem Eng . . 25H
100 .. Int Mer Marine ... 23
700 6 Int Mer Marine nf. . 82ft
900 ...International Nickel 17H
100 .. international Paper 50
20700 ,. Invincible Oil Cerp.. 184
100 .. Iren Products 31ft
7400 . . Island OH IK
400 ., Jenea Bres Tea .... 42ft
1800 .. Kansas ft Gulf .... 5ft,
3100 .. Kayaer & Ce new .. 46
200 7 Kayaer ft Ce 1st pfl03ft
2000 . . Kelly-Spa- Tire .... 50 ft
12800 .. Kennecett Copper.. 35i
1200 .. Ktystene T ft R.... 22ft
29300 ., Lncku wanna Steel.. 79ft
300 .! Laclede Gas of St L 79
300 .. Lake Erie & West. . 16i
300 . . Lake Erie ft W pf . . 33 ft
200 2 Lee Rubber Tire. ... 33
3800 3A Lehbrh Velley 63
100 7 Lima locomotive ..108ft
100 . . Lewo Ce 16ft
200 1 Left Candy 13ft
100 .. Loese Wllea 45ft
t.ew
17
4
14
.654
48 ft
38 H
7&ft
45
61
47 H
196
26
5
15
68 ft
1044
44ft
12ft
32 ft
113ft
116
97 ft
64
17
SB
38 ft
75 ft
33 H
60ft
121 H
138ft
101 M
136H
914
106
18ft
52ft
1254
99 ft
91
JW
3ft
35 ft
25J4
84
115H
46 ft
60 ft
44
49
74 ft
79 ft
27 ft
2ft
25
21ft
45 ft
133)4
40
b
30)4
13ft
79
56 ft
KB
140
37
70
188
37)4
47
f 8
16
38 K
55)4
8ft
21
26
42
74)4
65
43
93 ft
19ft
28 H
57
35ft
49
87 ft
44
16ft-.
64 ft"
116K
13ft
100 ft
42 H
734
93 ft
22ft
&H
34 ,
57 ft
117
27 ft
764
42 ft
82
13ft
21ft
15
00 W
44
116ft
95
18
19ft
ft
60ft
163
12ft
94 ft
28
74 ft
41
31ft
83 ft
2
20
79 ft
19ft
9ft
39
105
4ft
8ft
40 ft
2K
54
40
37 ft
25 ft
.23
'82ft
17ft
50
17K
31ft
lift
42
5
44
103
50
33)4
22 ft
77 ft
79
16ft
33H
33
62 ft
108 ft
16ft
13ft
45ft
69ft 1H
59H
3BHJ
75)4
34ft 1
60ft ft
1214
139)4 4- ft
101 H .
138ft ..
914 ..
108
18ft ft
I53ft 1ft
126H 1H
99ft- ft
91
, S'Vi
3ft
35 ft
25 ft
84 ft-115H-46ft
60ft
45
49
74 ft-
80 -27H
2ft
25 ft-214-46
134
40 ft-
6ft4
30ft 56H
8ft
140
H
ft
"4
IK
ft
K
4
1
24
H
K
"'ft
ft
"k
ft
ft
K
ft
ft
ft
"fluid In-
100
! 100
100
500
100
tee
f
2000
100
1500
200
600
4900
1200
7200
1900
5800
21700
900
100
700
300
1000
600
7600
4300
100
300'
100
200
3100
1400
500
ft
ft
ft
ft
ft
' ft
4
" K
1ft
K
i
54
1
1ft
ft
1
"n
ft
38
70
18B
38 -r
47 4-
73 -65
ft
8
16
39)4
55)4-
8)4 4
21 26 . '
42 -
74 ft
65
43 ft
95)4 4-19ft4-28K
57 -35ft
.
49 4-87ft-
4K
117 4
134 lOOftr
43 I
74 -93ftf
22ft4
93 15ft
34
57ft-
118ft 4- 1)4
274 4- ft
77
43
83ft4- IK
13ft K
22
15
804
44 4
116)4 4
95 -18-
-20)4
4-
61 -163
-
12K -. ft
94ft '4- ft
284-4- W
74ft- ft
-41 ft- ft
314 4-1'
84 - ;1
2
20 . :'.
ft79ft, l,
','.
'9K-.I ft
39)4 4- 3)4
105 4- 1'ft
4
8ft'.
40 ft
2K-
54-
40
37ft-25H-)
23
82ft
17)4 4
50 -18K4-31)4-
1ft
42ft 4-
5 -44
-103
50 -
34K4- 1)4
22)4 4- ft
79)4 4- I
79 - ft
1644- ft
33i .,
J.
63
108)4 4
1 16)44-
13K
45)4
1
ft
:'ft
ft
"k
ft
ft
K
ft
ft
K
ft
3ft
1
new ...v 'i-
m
O ,,j,,. 20 H
m-mrtt Ml.h
7 Louisville ft Nash ..119
U Lerrllard P 182 .
.75 Mclntyre netf .... Ift
.-. mack Truck
Mackay Ce .
. . Malllmn Ce
7 Manhat Kiev Guar j 80 ft
. .Manhat E'ec Supply. B7
1 Manhat Shirt 41 M
Mar flt Ry pr pf . . 62
i. Marland Oil 31ft
.. Mnrlln Rockwell . . 21
2 Martin Parry 30 ft
. . Max Moter Class A. 73
.. Max Moter Class B, 22M
12 Mexican Petroleum. 130ft
2 Miami pepper .... 29ft
20 Middle States Cerp, 14ft
.. Mid vale Steel .... 40 ft
.. Minn St Leuis new. 13
. . Me Kansas ft Texas lift
.. Me Knn A Tex (wl) 17ft
.. Me Kan AT (wl) pf 39ft
. . Missouri Pneafle . , 23 v
. . .Me Paclfle pf ., ... e 56ft
3 Mentana Power . . 75
. . Montgomery Ward. . . 22
.. National Biscuit pf 119ft
. . Nat En ft Stamp . . 41 4
7 National Lead pf ..1094
.. Nnt RR,of M 2d pf 5K -
.. Nev Cen Cep 17ft
S New Yerk Central ..694
E New Yerk C&StL. 69
2300 2V. New Yerk Eedk .... '37
100 E New Yerk Dee- pi . . 60
6200 2 New Yerk N H ft fl 29
100 2 New Yerk Ont ft.W 27 ft
i-w ii .-erm Amer ctra ... e
200 Wj N Amerleanctfa pf. 43ft
200 .. North American rta 7K
200 S Northern Paclfle .. 75ft
100 .. Neva Scotia SAC. 31ft
100 . . Ohie Bedy ft Blewer 11
700 . . Okla Pred ft Ref . . 3
100 . . Ont Silver Mining . . 8
100 .. Orpheum Clreuit' . .' 20
400 .. Otis Steel 15ft
100 2 Owena Bet Mach . 36 ft
700 . . Pacific Devel Cerp .10
700 C Pacific Gas ft Elee. . 70ft
10700 3 Pacific Oil 65ft
900 6 Pan Amer Petret ., 64
300 g Pan-Amer B 56 K
100 ., Panhandle 7ft
300 2 Pennsylvania nil,, 41ft
18300 .. Penn Scab Steel .. 124
100 6 Pceplea Gaa Chicago 86 ft
2100 .. Perc Marquette ... , 31 H
100 3 Philadelphia Ce ... 384
11700 2 Phillips Pet" 45ft
1200 .. Plcrce-Arrew meter 204
100 .. Plerce-Arrew Met pt 40ft
3900 . . Pierce Oil lift
1000 6 Pitts Ceal 3ft
1300 .. Pitts A W Va ... 36ft
,200 lft Pend Creek Coui ..20ft
900 5 Pestum Cereal .... 78ft
400 8 Pestum Cereal pf. ,108ft
4700 .. Producers A Ref .. 39 ft
500 C Public Ser Cor of N J 87
400 8 Pullman 121 K
1400 .. Puntn Alegra Bug.. 414
3700 2 Pure OH 33 ft
100 8 Pure Oil pr 102
1200 .. Ray Cen Copper .. . 17
1 5700 4 Reading 80 K
700 2 Reading let pf .,.. 45ft
600 2 Reading 2nd pf .... 48ft
5200 . . Hcpleglc Steel .... 36
12500 .. Repub Iren A Steel. 72ft
900 3 Remolds Tobacco 46 ft
3500 6.20 Rpynl Dutch IV Y.. 62ft
1200 .. St Leuis San Fran i. 29ft
100 ..St Louts Southwest 28 K
100 .. Santa Cecelia Sugar 3ft
300 . . Savage Arms 20 ft
200 . . Saxen, Moter 1 3ft
600 .. Seaboard Air Line. . 7ft
500 .. Scab Air Line pf. . . 10 ft
100 .. Senra-Recbuck .... 73ft
600. .. Seneca Cep Cerp... 13 ft
400 .. Shittuck Ariz Cerp 8ft
700 83 ft Shell Transport .. 46 ft
6500 .. Sinclair Oil 32 ft
4000 .. Sloss Sheffield .... 54
3100' S Southern Pacific... 91
500 . . Southern Rail .... 24
100 .. Southern Rail pf .. . 56ft
900 .. Splcer Mfg Ce .... 18J4
5900 4 Standard OH of Call 17 ft
1200 E Standard OH of N J 189ft
500 7 Stand OH of X J pfllBK
100 7 Steel Tube pf ..1. 83ft
100 .. Sterling Products .. 48
200 3 Stewart Warner Spd 40 ft
17300 7 Studebaker 117ft
5
8
35 ft'
3ft
12
48 ft
43 K
32K
' 200 . . Sub Beut Cern
600 .. Superior Oil Cerp .
100 . . Superior Steel
600 .. Sweets Ce of Amer.
2700 . . Tenn Cep ft Chem . .
6500 3 Texas Ce
700 .. Tex Gulf & Sulph..
200 . . Texas ft Pacific
2600 1 Texas ft Pac c ft O 29 K
200 .. Third Ae 23
2300 6 Tobacco Products.. 69)4
200 .. Te! St L&W CtfSB 36
65600 .. Transcontinental OH 19
200 4 Transue Wms Steel ,44
1300 .. Union OH 22ft'
700 10 Union Pacific 1374
1100 .. United Alley Steel. 40ft
400 . United Drug 73
' 200 8 United Fruit 140
100 .. United Rwy Invest. 15ft
29500 6 United Retail Stores 60 ft
600 .. U S C I P ft Fdy 35 ft
200 BTISrIPft Fdy pf 69ft
N 100 ..US Express 6ft
200 ..US Feed Products 4ft
4100 .. U Ind Alcohol ..51ft
100 7 U S Ind Alcohol pf 92
300 ..US Realty ft Imp. 67ft
1200 ..US Rubber 63ft
1000 ..US Smelt & Ref . . 42
14600 E U 8 Steel 99ft
400 7 U S Steel pf 118ft
5100 2 Utah Copper 66ft
900 ..UtahSee 18ft
9100 .. Vanadium Cerp ... 51ft
900 .. Va-Car Chemical . . 33 K
300 . , Va Car Chem pf . . . . 73 ft
400 6 Va Iren Ceal ft Coke 59 ft
100 0 Va Iren c & C pf . . 72
400 .. Vlvadeu Inc 13ft
200 .. Wabash 10ft
3000 . . Wabash pf A 31 4
100 1. Wabash pf B .... 20ft
600 1 Weber ft Hellbrener 15 ft
100 .. Western Maryland . 10 ft
I 100 .. W Maryland 2d pf. 19
100 6 Western Pacific pf. 61
200 4 Weatlnghouse A Br 93 ft
700 4 Westing E AM.. 62ft
600 2 White Eagle Oil.... 25ft
300 4 White Moter 47 ft
1500 .. White Oil Cerp .... 10ft
5200 . . Wick Spenc Stt Cerp 21
100 ,. Willys Overland ... 8
100 .. Wlllya overland pt. -m
100 7 Wilsen ft Ce pf . .
200 6 Werth Pump pf B .
200 .35 Wright Aero ....
nx-Hvldcnd.
TAW
119
192
48 ft
92 ft
2044
BOH
97 ,
40ft
,M
"30.
21
30 ft
72 ft
22
128 ft
29
14ft
38 ft
124
11)4
I7K
- 39ft
22 M
21)4
"M
1094
5ft
164
89
69
36 ft
60
29ft
,,27ft
57 K
43ft '
75)4
31 J4
11
3
8
20
15 ft
36 ft
9?4
70
64 ft
63)4
56 ft
7ft
40 H
12
86 ft
31
38 K
44
20
40 ft
10ft
63
36
20 ft
77 ft
1074
37 ft
86 ft
121ft
40 ft
32ft
102
16ft
78 ft
43
47 ft
34ft
70 ft
48
62
29 ft
28K-
3ft
20 ft
3H
7ft
10K
73 ft
13 ft
8ft
43 ft
314
51
90 ft
24
56ft
184
114ft
186
115H
83 ft
48
40 ft
1154
5
74
35 ft
3ft
UK
47 ft
43
32 K
28 ft
22 K
684
36
17ft
43 ft
22
137
39 ft
72 K
1394
15ft
574
34
694
6M
44
49 K
92
67 K
62 ft
98 ft
11B
65 ft
17K
49
32 K
74
58
1:80
P.M.
119
152
888
soft- it
!e V
'SB 28
M .
- 174
38 M
13
11)44-
17K
ft
39)4 4- H
224- M
56ft ...
75' 4- 2ft
4-fcft
1
H
I
Yeu ExECUnje,;
"a- m - ad wi mm ' '
M TES I I .'- ft.-
1
Lhlfh'; Vally Rtpert thewtd
M.29 Eir-ntd en Common
Stock
1
21
119ft-
41 K-
1094-
5K4-
17)4
89 H
69
37
60 4-
29ft-
27)4 4-
57K-
43 ft
7K
75 ft
314-
11
3
8
20
36ft-9ft4-70)4
1
63ft ft
63ft- W
56ft- ft
7ft- 14
40H- k
12ft ..
86)4 4- H
31 K- ft
3BH
45 4
20 -40
ft
II 63 -36
-20ft'4-78)4
4
108ft 39
87 4-
121 H 4-
40 ft-
33H4
17 ft
79 - ft
43ft H
48)4 4- 1)4
35 -
71-2
46 - ft
2rf ft
29 K- ft
284 4- H
3ft. ..
20)4 4- 1ft
3K ..
7ft 4- ft
10ft- ft
73ft- 1
13ft 4- K
8ft 4- 4
45ft- ft
32ft ..
32K4- 1ft
9044- ft
It
56ft 4- ft
18ft ..
116)44- 1ft
1HB Z
1134 4-
83ft-
48 -
40)4 4-
1164-
5
74
35 ft-
3)4 4-11ft4-47H-
43ft 4- 1ft
32K
29 - ft
224 4- ft
69)4 4- 1
36
17)4 4- ft
43ft- K
22 - ft
137)4 4- ft
39ft- 1ft
73 4- ft
140
15K- ft
59)4 4- 1)4
' 34 - IK
69ft4- K
6K- ft
4K- ft
504- 1ft
92 - ft
67ft
63ft- ft
42K4- IK
98K- ft
118
66 4- K
18 4- ft
50ft- H
33 - ft
74 -
Th placing of the common, rteck et
the rhiladelphla-Klectrlc Company en
an l per cent per annum bhsls was the
most interesting new development of
the tlay from a local viewpoint.
'Anether event equally Interesting was
the admission et the Electric Storage
Battery's new no-par common Meck te
the regular list. The new Heck also
made its debut en the big beard. Deth
events .had a strengthening inlaehee
upon feh of the respective itecka.
Philadelphia Electric sold up te SK,
equal te its high for the year .Elec
tric Storage .Battery reached 43,
gain of 1. and caual te almost 170
rfer 'the old stock.,
Trading in the general list was
bread nnd active. -The Lake Superior
peel dM some strong-arm work, and
succeeded ' in raising that speculative
preposition te 1VA. The aVoendwork
for the demonstration waa .supplied In
the general improved condition of
things in the sttel Industry. The ad
vance was tee much for these having
profits 'te let slide by, and , realising
sales inter brought a reaction te iu.
iid
1
About the only excuse which ceu
be hnndily offered for the conspicuous
weaaness at i it. -., wun a accune
of 1 points te 88l, were the state
ments contained In the pamphlet is
sued by Mr. Mitten. Just what there
u-au therein te pause nema, te unload
ft f no one was capable of explaining. The
underlying Issues were unaffected.
Union Traction held at 43, while Phil
adelphia Traction showed a gain of
fy point at uu.
Dealings elsewhere were qqiet. Penn
sylvania Railroad held fairly steady
around 41'. American Stores dropped
back te HO1., Lehigh Navigation con
tinued Arm and fractionally higher at
7RV.. U- 0. L lasues remained unneg-'
lected. vtcst Jersey dropped anetner
(mint te 90 en small offerings. .
The effectiveness of measures adopted
by the railroad managers te -bring ex
penses under control Is strikingly dem
onstrated In the annual report of the
Lehigh Valley Railroad. The income
for the year waa $0,788, 000, equivalent
te S8.20 a share en the commeh stock.
as compared with 311.15 a share in the
previous year, covering two months of
Federal contreVand six months of Fed
eral guarantee period.
The Lehigh Valley is one of the few
transportation systems thus .far which
has reported a 'greater expenditure for
maintenance of equipment last year
than in 1020. The inclese amounted
te $1,407,714, making n. total of $25,
1.18.717 for 1021. Maintenance of way
and structures, however, was scaled
down from $11,700,034 In 1020 te $7,
780,011 in 1021. Total operating ex
penses, the report shows, were reduced
$12,786,082 during the year.
Under the separate heading General
Remarks te Owners of Railway Se
curities, inclusion of which , marks
somewhat of an innovation in railroad
pamphlet leperts, Mr. Loemls dealared
In connection with the, widespread de
mand for freight -rate reductions that
the only way te restore the purchasing
power nnd credit of the carriers was te
permit them te' earn a fair return en
their investment, lie also drew atten
tion te the lurking peril et Government
ownership.
"This should be a matter of concern
te all and particularly te these whose
business Is dependent upon adequate
and efficient transportation," ' he said,
"Experiences with Government-owned
railroads In ether countries, without
-v hah 4 1 tm m j jfc a a-SV A - -1 ihi a a
j IMlity of their performing service of a
cnarncicr nnpreacning our stanuares,
and such railroad systems, Instead, nre
the mere cat's-paw of politics, with the
burden of making up deficits In the cost
et operation falling 'upon the people In
the form of taxation. Te meet this
threatened condition requires an atti
tude eh the part of the Government and
the people which will permit American
railroads te re-establish their credit,
that they may be able te finance needed
improvements te their properties."
Philadelphia Stocks
1:15 Nit
Hlsh Iw P. M. chfi.
2.-8 Am Strs.. Ill) lMYt 110'.,.'
H5 Elec Hter
new .... 43 43 43 1
Lake Sup. llii 10 10
i Lch Nnv... 7n 75 7C
il
02
40
87 ft
78 ft
9
72
13
10ft
31ft
20 ft
15
10ft
19
61
944
62
254
47 ft
10ft
v 20ft
38ft
87 ft
78
9
1
58 - 1
72 -13
-10ft-
31 K 4
20 ft
15ft 4-
61 -95ft
62 -
254
47 ft 4-
10K4-20K-8
4
38 ft
87)4 4- 2ft
7BH ..
9 4- ft
ft'
'ft
ft
4
H
ft
ft
K
ft
ft
ft
ft
ft
K
ft
1
ii 7iiftie no
December ii.siii u iiw v.uu
Jlarch ...... ...- 0.43O47 U.IS
urn.
il
5K V
Before Investing
MMira in aavica ei innn .)rinc.
Innte ielctlen of sound --curltl.
.' . . -... .. n l-tluliltiaila mwtA
Vl'WIfr IMir 9TTIVW49 l mm .
AHiien wun iuiiup iu "?
qensfrvative ptarginai
fioceiiHl Invite iL
LINN & GO.
SftSr'.SSrBSS9i
1 lu. . i-fl iiV
kit
DIVIDENDS DECLARED
Tlmkn Drlrelt Axle Company, quarterly
li per cent en preferred, pa) able June 1 te
tcck of receril Slay 2d.
Amerlean Power uml I.lsht Company,
nuuitrrly of 1V per cent en common, pay
nbl Junn 1 te lock of record Mny 17.
Heuthweatnrn l'ewer anil I.lsht Company,
iuartrly of 1 per cent en preferred pay
able June 1 tn mock of rerenl May 17.
v.tir Hern Ceal, nuarterly 7A cents en pre.
ferretl, pajable June 10 tn ateik of record
J, I Caae Threahlnr Mnchlna Company,
nuarttrly 1. ler cent en preferred, payable
July 1 te mock of roerd June 12,
ritandard O.I Company of New Jersey,
,.,iri.rlv tl.i. en common tind IK ner cent
en preferred both payable June 13 te (ck
I of record .May I'll.
irpieriai "ii uiiitmn ..in . Muarieriy te
renin, payable In Canadian fundi en June
I te stock of record May 18.
Raw Sugar Quiet and Steady
New Yerk. May in The rnw suttar mnr-
etiay
'd
ket la gu.et but stead", with Cubaa for Maj
shipment quoted nt 2 7.10c, coal and freurht
....J in. June ahlDment at !c, ceit am
...... ... -;..---.-- .. ,. ...,..1
llelsnt. l nere . ,.i.. ,r,,i,rii ,iu
FOREIGN EXCHANGE
New Yerk, May 15. The market for
foreign exchange opened Irregular and
with narrow changes, the exception be
ing a decline of 5 points in Swiss.
Sterling gained te about the high
record, francs and lire 1 and Swed
ish robe 3 points. Belgian, Dan
ish nnd Xefweglan weie unchanged.
Spanish nnd Dutch lest n point from
Saturday's final. Swedish gained 3
tinlntri and mnrks were unchanged.
Toward the end of the first hour the
allied exchanges became easier.
Quotatiens: . .. , ,
u..,.n. nhii 4.44. demand
4.4SK.. down Vi ; frnne cables 0.14,
checks 0.13. down ; lire cables ft.Jj,
checks 5.20V. , down li mnrks ..14,
' "The (Vntrnl European exchanges were
lower agnln today. AiiKtrlnn '"""!
..i . ..r,tnliln fltflire et .U1UB.
Greek exchange declined further te 4.15
en political troubles In that country.
Other quotations were: Itulgnrla .00;
Rumanian, .71 : Serbian, 1.48; Cwhe.
Hlovnklen. 1.02Vji'JKO-Slavlnn, .37
1
Financial Briefs
NUtUrUay. Arrive w ,n- ,.iiw,, m-
eluded 29.000 basa Cubaa tp an, mperter,
V OOO bara Perte Klee te Arbuckt Breth
'::.- it aaa. haa Ha BBMLlaaea aa rout
evilk OH. 1.1W !"" 'i
'ellsh. .f255; Finnish, 2.11 J Hungar-
II ie Canada. Th local rM(BMrsM te an-
Inn. .13.
uATiliinAT'H CUJ11NO QL-OTATION8
HUrllrer Franca Hn?iPu,iyeiS
Rsn:." :: Mitt fc i" S:!eH 83:88
-fOPAT'S OfKNIX QUOTATIONS
rmr YM
4.4QK Wil17-
Demand
tabtei ..!
YTATiqua .
Hfltt
Gnrrisen & Ce. nnneunce thnt Oliver
Cromwell Curtlss has heceinu asso
ciated with them in their sales ergani
zatien.
Oranby'Mlning March output totaled
1.022.402 pounds of copper, ngnlnst
H.r3,038 7n,Febrtmry and 1,074,1(12 In
January.
Wells, Farge & Ce. report for cer
ended December 31, total Income $1,-
270,707 after tax and depredation,
against $453,041 In 1020.
The average price of the twenty, active
Industrials auvanceu u.-i.i per cent Nen
Saturday te 02.03, while the twenty
railroads advanced 0.40 per cent te
83.00. x
Annrexlmntcly $1,000,000 eeld ha
been withdrawn in the Inst week for ex ex
eort. While it Ik net known definitely
whether thin is all for Indlu, many are
et the opinion that it Is.
Wells Farge & Ce. reports for year
ended December 31, net income,
$1,2701707. after tnxes and charges
equal te $5,34 a share en $23,007,400
outstanding capltul stock against net
liiHim I4H3.041. or HI. 81) la 1020.
Secretary Mellen announces author,
isatien given te Federal Refer ve Hunk
te purcuase 174 per rem .vmtf .'wv-5
direct from holders at '.!
?
38 38 . .
20 20-f-
211 20
33 33 id
UO'il UUV-t- Vl
m lit
H I87.
43 ..
44
Philadelphia Rapid Transit forth
coming dividend will be acted, en either
at the regular beard meeting the third
Monday in June or at n special meet
ing curly in July. After the directors'
regular meeting this ufternoen, at 3
o'clock, the earnings statement for
April will be issued.
Repert of Cosden & Ce. (Delaware)
for year ended December 31, shows net
Income of $423,054, after Interest, de
preciation, depletion, etc, equivalent
after preferred dividends' te seventeen
cents a share eurned en the 008.355
outstanding shares of common stock of
no par value.'
Union Carbide and Carben Company
llllie minium enueu teceniD0r ill, nit
curningx $8,170,807 after Federal tux,
depreciation, Interest and preferred div
idends equal te $3.07 a share en 2,060. t
731 shores no par, Income account fol fel fol
eows: Net after charges, tax and com
mon ami preferred dividends, $8,170,
807: dividends, $7,070,103) balance,
9107,704; previous surplus, $05,275, -488,
Profit and less surplus, $03,473,
1480
100
lOLeh Vnl. 02
183 Penna It R 41
22Phlln Ce
cum pf.. 38
705 Phlia Elec 20
21HK de pref.. 2U
1180 Phlln It T 34
in i-niiu xrac euvj
20 Radie Cor 5
ISOTone Hel. 1
50tTrans Oil 18 18
100 UnlenTrac 43 43
125 U G I.... 44 44
108 de nrcf . . 53 58 53
100 W Jcr & 8 35 85 351
tXct chansa made by csmparlien with last
ale en New Yerk Stock Kxchansi.
rillLADBI.rlllAtVONOS
10000 Liberty 2d 4is '42 00.54
200 Liberty 2d 4s '42 - 00.30
18200 Liberty 2d 4s '42. .lets 00,50
15050 Liberty 2d 4s '42. .lets 00.88
100 Liberty 3d 4s '28 00.00
3000 Liberty 3d 4s '28 00.82
1200 Liberty 3d 4h '28 00.72
1000 Liberty 4th 4s '.18.. v. 00.80
0000 Victory 4h '23. . .lets.100.54
2000 Hell Telephone 7 lets 108
4000 Electric & Pee 4s 00
5000 Lehigh Valley Os 102
1000 Phlla Electric 1st 5s. . . . 08
500 Phlla E'cctric 1st 5s. . . . 00
2000 Phlla Electric Os 103
10000 Phlla Electric Os. . , . . . ,. 103
1000 Phlla Electric Os; 103
1000 United Railways 4s 55
MONEY-LENDING RATES
NKW YOllK Meney en cill, both claiiea
of collateral, opened today at BH per cent
for lending and reniwlnc.
Offerings nf time money wire net lib
eral, but lendera were unable te lecure 414
per cent aa dealred. What little builneaa
took place wai ut 4'i per cent.
Prime bank acceptances are quoted mod
erately active at 8H te S',i per eint, with
the average paailng at SM par, cent.
l'rlma mercantile naeer la restricted aa te
activity by light offerings of-the highest
grade material, . Ilatei are 4ti 10 41
cent, lih occasional transaction!
cini,
rilltADICM'niA Call. 6 per cent; time.
5 per cent; commercial paper, three te six
months, 4 te & per cent.
IvONPON. Meney, 1W per cent. Discount
ratei. short and three months' bills,
3A1 2H per cent.
Reserve Banks' Discount Rates
Official rediscount ratea at the twilve Fed
eral iteaerve Hanks are aa fellows!
irraa. ,i.id. i-ent I likra.
10 4 H Per
at per
102.
Intaraata HBf'tb an
1.1 AA MM tiaa m
ft tfa''v $!i
X I t "7 .. ' ? a
taf
$F;
VT-X j
BAR SILVER
Doenesije bar allver.wai' unchanged In
i
! UVI
h.reeard
nt, ts
Katr. Tork today at M
lerNsn, iiHi,
aig
,m adyanea
the
mark. Ta.. vs.
I. In I, Londen the price
0U7SU aisu a new n'sn
Hoaten
New Tork
I'MlnOfl
('levels
ctfs
77"
rerk ,.... 4V,
nichmend 4Vi 4Vi
Atlanta jtr . 4 i
Chicago 4 i 4 i
Hi., ueuia, ,,,
Minneapolis , . , .
Kansas City ...
Dallas
Han rranclicq v
Denda Papf Accent.
17 1
4
a'
V ??' 'l
ii it; iii
4t, it. .1.
i ! !
r r H
n n i
n , n n
BANK CLEARINQt
.1 in sari esSias'Sayia. r&zssr' w,,b cer-
J$i2n Rt53ay' Phlla. .,W.?M!?08 Mi.a4lt,:n4 iM.aaTaja
' 7, nigner at llosrea ,. as.ann.vuu -n.SM.in,
ler the ear, ') N(YoikAU.euo,uoti 45t,siS,ei
I
im
-. " ' V.I '
f ST
1
' w
' "1
r ' fi
ylJ
' $
- f v
i
(U
1
4
.
i
r-
I' V
If an individual, he, should be
Of highett integrity. ,
.Keen in business judgment.,
1 Familiar with real estate value and
management:'.
Shrewd and conservative in f he matteret O,
- investments.
Without 'favor or prejudice as te one
beneficiary ever, another
Able te personally devote suflident jtime
te the interests of your estate.
Even if the individual meets al. thett ;
..11A J-.4U 411Ma r V
necessary requisiwe, uceni, uuictb w
.hanMinf -aaiiiAtKHa mav tlnninfi hl ' 'V
association withvyeur Estate. m
This Company, as Corporate Executer
and Trustee, combines all the 'desired
-ia i. U l i.Jl.'J...l
quaiincaiivns.ex meiuwn lnuiviuuEUs.aiiu, ;
in addition, possesses , the essential , ele
ment of permanent capacity te serve. Its
officers, through years of experience and '
training, are skilled in the, management
of estates, the preparation of accounts,
and tne investment, 01 irusi zunas. rm
A Corporate Executer and Trustee
charges no mere for its services and offers
its Capital1 and Surplus as a guarantee
for the faithful performance of its duties
An individual may -be associated with this,
Company as Co-executer and Ce-trustee.
Without Obligation en Tour fmrt
our Trutt OMett-uill be pleased te'
dUcuet with aeu the above and mann
ether advantage of this eerviee.
COMMONWEALTH
Title Insurance and Trust Company
N. W. Cor. 12th and Chestnut SU.
Eatsblllhtd ISIS
CapiUl, $1,000,000 Surplus, $1,250,000
DEPOSITS RKCK1VKD
sa : DEresir boxes
SAVINGS FUND
TITXK8 INSURED ' Ji
TKVST8 EXECUTED H-
-Hi
1
We beg te announce that
Mr. Oliver Cromwell Curtiss
has become associated with us in
our sales organization.
GARRISON & CO.
WIDENER BUILDING, PHILADELPHIA
".1
l
tiA
'MM
ftl
. V-
.
3
. v,1
';
MiMiiai
Philadelphia Stock Exchange
New Yk 8teck Exchange
TILIMONII
PhiladiLphia Sprite 8371 f'f
'Naw Yeaa Rielir 3671
"$
We talc pleasure in announcing tha, opening of efficii
(or the transaction -of a general
.
Investment Bend Business
We will specialize in high-grade external and internal
Foreign Government obligations,' tha underlying Sterling
inuei of Canadian Government Railway and Penntyl
'vania Tax-Free Bends; ;
Donald J. Smith & Ce.
Fratiklin Trust BuUdinf, PhiUdsIphia
Corretpendentet . )
CASSEUNUNES&CO.
UtmUra pf Niw -Yerk Stock i'xenaape
m
4
m
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SALESMAN '
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An eld-euabliihed firm handling high-gradi investments
in securities of railroads , and puWIle utilities, aa Well a
syndicate offerings, has an opportunity llar-'twe maK.0
, trained, as salesmen. Collegiate education,. and previous
selling,
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