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BOND TRANSACTIONS
T-"-
iVf,
t-r
'rf ' . V -J.X
tBAtJM IN $10001
":
M.
HeVe Ti
;-... 101H
.... low it
ratera ta
ii.tfi T
airtin'.' n
eetta'a h
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Wi -. I 3... 1DSU
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$' Xaee8ewl
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IV-Jl 14
H-J.frB AS
f i ; m
SiTi ". . . .- 9
WCMr Zurich Si
"-' i , tia
(ffiSjDwunark Cen
H'ui DPt Still 71
?' 04 U
. iif uanaaa 'an
i 3(1' 99U
D Canada '3a
V J. 1.... 1004.
' f'D Canada '81
T . ft 1...1. 0Si
V.XJe Can 'S3 wl
Je 80.... 100
Klntdem' Den
mark et 8
i1.... no;
K Italy OUa
3 0H
: no
a.... gnu
K of Nether
lands ct 0
10....
10
T(al)
10
nn
0.1 Ti
08
3 06 U
l..w. 00
T(sale) 0
11 (flat) O.Mi
a..., 4 oe
2... 05H
l nfl
Kingdom Ner
way et U
i.... nn;
iv. grMin ia
3.... itiK
J.... 103
Sa... lOITt
i.... loin
Parlt-Lyent M
et vl
IS.
fl...
B...
B...
1...
S3...
MH
BS14
88
an
MS
S3
30 (flat) 83 :
Queens' d Ct wt
6.... 102 U
2.... 102U
3.... 10214
Queentl'd lxt
Lean Ts
1.... 110'i
Rep Chile 'HO
SU"
iT, v-.-i.- wr .
vvuicn r ina fj
rets '47
l...
esn
j.' -
.v 1 0.1
Dutch H lnd'a
reu '3
2.
8 a
80....
7....
1....
1..
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en
00
00 H
00 S
00
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7 teal.) 93?,
it Prtnca
Hi
I
' K'7Ut ret
t.... 101U
1.... 101H
Z- 1.... 101H
r i.i.. ieih
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J Oerft r R M
; i.... ie4i
. 4.... 104H
A 1.... 104 li
B.... 10414
jf 8.... 104H
r, 4.... 104 H
K Btlrlum lit
2 1 0ft
?jX Btain th
103H
103S
102
lest;
103;
103H
103 .
10241
1031
Rtp Chile '41
0.
8.
13.
75.
30.
B.
10.
1.
10 (f.At) oeti
A..... B04
V'A H Mnlca
L.tri Sa
S..... 03
Adam Km 4 s
1...... 7U
S... .. 70 li
AJai Kub't lit
1 Bi
l.... 04i
3 03
Alaa I)uVr It
.,, 102
I... .ie2;
Amn Ar'e tt
caitm Bt
1 04U
Ann Atr'e
Cbm 7H
B.... 103i
8.... 103H
1.... 102H
1.... 102U
Ann S4)i(i
8 02
1 02H
4 02H
8 02H
0..... 024
11 B24
Amtrlcan Su
Rr 6a
DiOPLE
w va 4a
St. i. 80
Bait ft Ohie 8
W n 3Ul
1 01U
Barntil'll Carp
2.... 100
Bell Telrphent
if.ra 7t
1.,.. 1071
1.... 107'j
1.... 107
ntih Btetl ea
0,
IB....
IB....
r.....
10....
85....'
B Stett
10....
10....
8....
1....
Bread'y
nsc
n
08
en
00
00
Bt '30
03
0.1
OS
08
7th
1.
8....
1....
1....
a'.'.'.'.
i...
l.
i ...
B...
1...
'
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9..
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108U
1081,
108U
108U
108H
108Vi
10SU
X Btltt'm rctt
i.... ioe;
vJCIntrdem Dn-
08H
08 U
08i
88 H
- 2'
3...
1...
103
105U
103U
lORi;
less
103 4
10BU
Rep Chile 'te
10SU
R Cuba 6a '04
1 00
1 00
Rep'e of Uru
cuay 8a
1.... 10RU
3.... 108
1.... 10SH
1.... lOSVa
Swltx'd Cen 81
10.... 117H
1.... 117S
V K Ort Brit
A I'd 122
2.... 1081
1.... 10H
1.... 108
V K Ort Brit
ft I'd 1020
r,.... est
1.... 108U
U K Ort Brit
I'd 1037
1.
1..
10..
n..
e..
.
n.
102t
i -'-;
102U
102UJ
1021;
102U
1021;
U S Brazil Hi
1.... 100
8.... 103'i
O(iale) 105
U S Mexico 4i
0 03
10 55 Vi
2 BBfc
3 C3U
IT 3 Mexico Si
10 00
30(tale) 00
100
loot;
100
1001;
100
ioe;
1001.
ioe u
Amn T T ctt
00 li
A Tel ft Tel r.t
e e;i
1 07
1 07.
Tel ft Tel Cs
1.... 114
e... ii4;
Amer W P fi
1 87i
Amer'n Water
werht Ba
1 80
1 SO
Amer'n Water
Werka Ot
1 87 -i
Ann Arbsr 4i
0 70
Armeur 4 Ha
1 01
0 01
A T ft a Fe al
1 84
C 64
A T ft H Fe 4a
B 88;
3 88;
1 8RK'
7 (tale) 88 4
i ;
A Ceatt V clt
1 83-
3 821,
2 82;
A Ceatt t, 7s
1.... 103H
.Vtl'e Fruit 7a
8 44
11 1.1
Atlantic Rcrirfl
ct 04a
2.... 104
Bait ft Ohie cv
3 81 r,
1 814
1 81.
Bait ft O 3 4s
1 03i
B & O Tel 4
1 07U
Bait ft Ohie St
8 804
1 80;
21'....'. 804
B...,. 80 'i
3 87
Unit ft oaie 0,
2...., 0!4
2 00H
ie en,,
B 004
s oe;
Avenue en
l.i...' 07
Bkn Edl Ce Bi
S 044
B Edit' n C 7l
2.... 100
B EJls'n D 7i
1.... 1074
1.... 1074
B Rap Tran 7e
10 HO
Buffalo Rech'r
ft Pitt 4U
3 004
Calf O ft K Bt
2 en;
2 03V
Cana Oen Ilec
0a wl
1.... 101'i
Canadl'n Nthn
04a rctt
i . . i i i .,
i.... ill
1.... 111!
i . . . . j i i j
Canadian N 7t
l(sa!eniS4
Cana'n Pac 4t
1....
2...,
1....
33... i
It....
2....
7 .
fi....
1....
0....
8....
1..
10SX
ier.4
1034
ion.
100i
10B4
1034
1054
1054
1034
100
ioeu
3..
3..
3..
784
784
784
2 784
1 784
2 784
1 784
0 784
Ctl Leather St
0 0
Cen'l Of Oa en
0 08i
Ctl Pacific let
1 834
Cen'l Pae 34
2 804
Cere ee Faa'e
Cep'r Sa
2.... 1134
1 . . . . 110
2.... 1134
110
1104
110
2.... 1104
C'k ft Ohie 5t
1.... 1004
C'k ft O cv As
11..
10..
6..
1..
4..
3..
1..
ti i
1..
ntVi
014
014
014
014
014
014
Chl B ft Q neb
1 034
Chl B ft Q ft,
esi;
CAB I Bih'AI
8.,... 824
2 824
9 82
2...... 824
4.'.... 83
Chlcace'Mll
flt P 4a '2.1
2 704
cnieara Nil ft
PF mi 4U"
4 804
Chloaae Mil ti
StP ti 44
1 044
Cblcaara Ull
StP ev 44s
1 704
1 70.
1 704
cnicase Mil ft
St P cv Sa
1 744
1 744
2 73
Chl ft Nwn 7
1.... 1084
Chl'e llw's 5
1 34
C 834
C R I ft P fd
1 824
1 824
Chl ft W 1 4s
1 744
C ft W I 74
1.... 1024
Chile Cep'r t
1.
0...
8...
4...
004
0044
2..... s:
Cuba Railroad
Ce 74a
1.... 1034
Del ft It 54t
1 094
Den illOlil
1..... 484
Den tltOli
1..... 824
Uet L'dl Ce 0a
1.... 103
0 102(1
Dft Tun' I 44s
1 884
1 874
1..... 88
D Match 7U
1074
D de N'emeura
Powder 04s
1.... 1074
2.... 107
3.... 1034
1.... 1034
12.... 1034
Duq Llrht Ht
1.... 1034
8.... 1034
t.... 1034
Cmplrn Oas ft
Fuel 74 1
E 084
Brie Uenl Lien
10 53
C S3 4
Erie Pennn Is
1 884
Fraticltce Suit
74u vl
2.... 1004
8.... 10011
Fram'u lndutt
Wev 74i wl ,
1 004
1 004
1 i"4
I...... 004
; i4
1 nnt.
Ceiie'l E!i 3,
I.... 100
2...
5.' .'.;.'
10
Int M ct
4?:::::
88
12
no
ie
8
iii...;
2.
be.I.1.'!
11....!
Intb'e R
11.....
03
1
3.....
l.t...
20
20
4 '
C
4
3
!0
144
144
144
44s
184
18
14 4
14 U
144
II
14'i
,Htt
'144
144
144
T td
72
72
72 V
724
T2H
724
724
724
724
73VI
724
724
0 .... . 404 North Wetttrn
u BtL. fd Bt nan T 7t
I..... 40
M HIP ft S Rtt
Marls 0"4 a
3.'... 10.14
0 004
M K ft T aj wl
fi 004
10 80.
10 B04
2 B0U
Me K ft T 4t
4 00
SI K ft T 4s wl
8 '804
UK ft T Bs wl
t...
23...
Me P
1...
20...
R
2...
10...
11...
14.-..
004Ooedyear T A
00
00 4
004
1)0
004
004
01
004
01
1....
1....
1....
1....
2....
1..,.
1....
Chile Cep'r 7s
1.... 1024
2.... 103
B.... 1024
OUT 44s'S
1.... 1004
C N T 4Ub'01
Z..... 102U
C Cln C ft Btt,
Carle 4a
4 834
Cleve S L 44s
a 034
Cole ft H 44s
1 874
i 8
C Tab ft R 01
2 07
1 074
Can'd Ceal Ce
or Md Si
0 864
1 884
Cent'd Oas 7s
10..
B..
3..
10..
..
T!.'
i..
i..
B..
1..
3..
C B
8..
1..
1..
.. 00
.. 084
.. 084
.. 08;
. . en
.. 084
.. 08',
.. 08
Q 04s
. 1034
. 10B4
. 105
. 1034
1104
III
1174
1174
117
118
1174
118
117',
IIS
118
S 8t
1044
5..
14..
10..
1..
1..
Cuba
1..
Cuba Ce H cv
1 834
Cuba Ce bur
8a ata -
5 83
5 83
1 S3
Cuba R'd Ba
3 84
Rub'r 3l
1.... 103
1.... 1024
"(sale) 1024
1.... 10.1
2.... 10S4
1.... 103
I.... 10.14
5.... 1024
!... 103
7(ale) 10M
1 . . . . 10.!
Goodyear T ft
Rub'r '41
1.... 110
S.... 1154
1.... 110
4.... lid
2.... us:.
ONthn R Bt,
no,
I M Marine 0t
1 074
2 074
1 074
074
10 074
lnt'I Pap 1) Bt
83
1 834
Island Oil ft T
Ce un 0s
4 004
Julius Kayter
ft Ce 7t rets
, 1.... 1044
3(tale)104
I 10.... 105
1 Ktlly Sprlnc'd
Tire 8a
I 1.... 1084
I Lick Steel '30
' 1 Ot 0 ..
I S OlOlNT
Lake Shron M: 7..
S'n 4a '81 1..
4 0141 1..
' L Vat en 4 4a 20
2 004
Lehtch Val A
. 4.... 102
I. ft Myera 3a
10 054
I 8 054 I
834
SB 4
R 4a
014
04
044
04
04
044
044
0411
Me Pae Ct '23
100
Me Paa Si 05
2. . . 88
18.....' 871
Me P R R .
1 004
1....'. 004
1 00
1 004
B 004
New Or Tex ft
Mexico 6
10 704
1 70
1 70
N Y Ct'l 34
774
N Y. Cent'l 4
10 884
N T Ct'l 4 41
... 874
Cent' I
054
2.... 100
2.w. 1004
1.... 1001,
4.... 100
N Pacific R 41
1..... SO
4 80
...... 804
U.,... 804
N Paclfle Rh
4.... lOBft
1.... 100
Or ft Calif Bt
2 09
Orea-en SI. 4s
14, ...i 014
Out Pwr Nltf
Falls Sa,
2..'... 004
Ore-V R r Ce
ft N Ce- fit
1..... 814
2 814
0 .814
0 814
8 814
18 814
1 814
B 814
14
a...... 814
5 8)4
3.... 814
5...I. 814
.'.'iyim ; .ri5
'i$.
Otis Steel lata
0.... 103
1.... 1024
Paa O ft E Si
5 02
4 824
P T ft T 5l wl
11 024
4 02 U
Paclfle Tel AT
Bt rcta
8...
0...
04
044
04
04
04
04
04
!
Ild It St '3T. 1
3 82 V. 1 3..
Leult ft'Naah'k y
IIH 0,1 i R
8.
044 1.
OS. 10.
0.1 4 irackard . Moter
03 Car Ce 8a
034 4.-... 107
B 054 Pan A Petrm
Y Cent'l Os ft T Ce 7s
2.... 1024 ' 100
4.... 103 IP Rd am 44
0...
3.
3..
10.
1024
.. 1024
. . 102
.. 1024
.. 102
.Vath 7i
.. 107
108
Ruaar
.. 1024
.. 1024
Cent'l 7
1004
4..
03..
B..
iN Yndlsn.Ce
1 04i rcta
.... 1004
New Yerk O ft
West'n 4i
1 744
N Yk Rlys 4
0 404,
N.Yk Rlys 3s
13 104
1 13
SOU
Penna R R nt
7 084
2 084
1 00
10 00
3 08
8 084
Penna R 04 1
1.... 1004
l..A. 100
l..?. 1004
4 1004
2.... 1004
Penna R R 71
C....
Gt Nn
4....
en
HOI,
en
004
Sly 7a
100
109
Hm-k Val in.
c .',':
Helland-Am'ti
Line Ci
11 eat.
Ilud ft Man fd
1..
3..
Le ft
1..
4....
Manati
00 Ce ct
'"'"I 4.... 100
""'J 1 Market St HI, r. in I 2.... 1084
S Fran ltt N Y Ryi ct Btlp L'ht
3 804 -3 11 Ceal 0s
J f4 0;.... 11 I a-;-- 10M
1;.... 84 New Yk Sutqll""-! E 1st
3(sale) 80 (mm I 1 784
? SJI 2 07 Pere Mirqt 4a
0..... 80 NTTeteV44 4 81
MOII wa'd 81 2 03 1 iu
IOO N T Tele's '41 Pere Marat St
WrtVi.fcw
' li M W
1.... ta
rrediM.4 R It
2..,.. 00
Pre ft Refiners
ward sa
1.... 109
1.... 1084
1.... 1(10
Pub Htrv corp
w Jsy 7a
...., 84
7(tale) 84
1 83
Readlnx Ce 41
l.... 844
x . I,., n.)
iX..... IS
Rep'e I A H Ba
I. i.i, 084
w oe
Reck (I'd Aft
J-euia 4Hs
2 Sit
Reme Water n
Ofdii en
'1 004
StIi I'n Ml. ft
a.wy 4a
1 87
10 H7U
Sf L I Mt A S
R ft U dlv 4a
. 884
1 824
Bt I. ft B F aj
10 80
..... 804
80
'.... 804
8t-L ft s V In
074
8 074
".'3.'.... 07
St.L ft s Fran
aeries A
, "tatl M M
1
...
l.n.i
9H
99 H
99
0
IUIU
wnciair C Oil
Cerp 7a. rcta
!... 100
!.. lOOt;
2.... 100 '
tsaiel 100
6..
8..
...
3...
a.'.'.
100,
100
100
100
100
100
1004
inn
Sinclair a OH
uerp 74a.
, I.... -104H
..... I04
;... 1044,
1.... 1A1U
Sinclair Crude
uii r co B4i
e neu
bO'n Bell V Bt
la a a a OS
Se't, Paclfle fd
...... 874
".. 814
8.
4....
18....
1....
21....
T24
724
724
72
724
724
724
72
i....'. 724
1 72
St t, ft a Fran
Series B
.'.. 874
'1 874
St L ft 3 Fran
Series C
25 .... 084
St-Ii Sw'n lit
7I
J 78
0 70
St L Sew'n Bt
1 ri
'n Paclfle 4a
- 82H
20 8011
3 n Pae cv 4a
S 68
Sit Railway 4t
' 07
1 n?
8r. Railway. Ba
... 084
1 084
Sn Ratl-y ni
5..
5...
6...
I...
1..
1..
B..
1.
1....
1....
Seab'd
1
1..'...
13
IB
8
8. . ; . .
Seqb'd A
4
80
80 4
804
L fd
41
41
41
41
41
41
40
404
I. Ot
574
674
574
004
00
0
04
004
804
004
00 4
09k
Stand'd Oil of
calif 7a
B... 1004
2.... leau
Texae ft N or
R lat
8..... 004
Third av nj
004
1 804
8 004
un'n Bar ft P
10 S
1 074
J 074
B 074
Union Pae cv
1 044
1 044
2 044
Cnten Pae 4a
2 014
1 01H
B 914
1 914
tli 1
yi:4tW
Til l,vBlt
vara Drw
Jf..? 1M
1....' lMfi
9.... 1(8
Ct'd my t C
iTan ea
B...,. 84
r .... 184
B..... 8U
O Rubb'r Bt
11.... Wrt
B 89
2....'i N4
It.... 00
B 80
6 '89
2..... 00
1..... OO
V S Rub-74a
1.... 108
0.... 1071
U n smit M
"r"8a
6.... 1004,
. 101
U'd U steel 8a
'.. 101
!... 1014
il..,. 1014
!... 1014
Xaate) 101 4
2.... 1014
8..i. 1014
.... 1014
1.... 1014
.... 101U
4.... 014
I.... 104
1.... 1014
2.... 101
I....' 101U
Utah P AL Bs
8 .utu
Va-0 Chtrt 1st
1.... 100
Va-O ch 74s
.... 1034
1.... 104
4.... 1084
10.... 104
Va Rwy Ce'Ba
esv
Wabath R lat
Iw... 074
Wea'n Klec 8a
B..,. 1004
Wett'n Md 4a
1 03
1 03
West Shere 4s
10 814
W Union 04s
1 100
4.... 1094
iWeatlntha's E
ft Mfc 7a
1.... 107
2.... 107
8.... 107
1.... 107
1.... 1074
W ft L B 4U
1 60
Wilten Ce 1st
1 004
Wilsen C 74t
.. 1034
.. 103
.. 1054
.. 103
Cent'l 4s
... 80
... 81
im -' .'.'.." r - f- , . - Vi 'I
a. ' ".iinUiaa, 1 niiijMltiillii lit ml its
Sa UKJCKHr '' JMTf-.i JVV vs j -
'' 1 1" " ii mi 1 a
1.
1..
1.,
1.,
Wis
1..
1
1 821,
1 S3 1.
Hud ft .Man In
13 GI4
0.V,
4 05
4(sale) 05 ,
10 634
1....T 04
Ills cen'l 64s
1.... 1014
Indl'a Steel St
8 004
Info Met 4s
30 14
30 14
.... mevi "ii m.i
lt.... 10041 1.... 103
Max Petr'm 81! 7..., 104 l
J.... 105 V V Tele'e '401
83 K I 3
Mich
103
b Tel 5a
2 08
2 084
1 0S4
Mid U ft Or 3t
1..
1..
024
02
024
02
024
024
02
02
Min ft St I. 4s
1 474
1 474
1.
111.
4.
3..
:.... 10541
J.... 105 I 1...
N Yk W O ft Thlla
Ptt 44s 1...
1 B7 (..
N Ohie Trae ft1 0...
Llaht 0a ,PhllH
2 074 8...
Nefk S'n R Bs 2...
1 074 4...
, 7(sale) 0711 Pierce
.-" wn rv na 1
00
.. 00
.. 004
.. 00
.. 00
.. 00
Cnty fd
.. 07
.. 974
.. 074
Rlys 4a
.. 50
.. 584
.. 554
en as
1004
3.... 108 Pitta U Chl
1.... 108 I PI I. a B
N ft W Poeo's 7 97
coal Ce 4s
10 85!
1
? 3
fi
Ft,
h
B J
E'-l
i,
is- s
1.,-N
KH
tu
We Own and Offer:
3S,000 Fealarttl Und Bank
50,000 Lehigh Valley R. R. General
15,000 Carthage 4 Adirondack Ry. lat
0 14,000"Headinf, Jeraey Central Cell.
16,000 N. Y., Chicago & St. L. R. R. lat
50,00d PitU., Cin., Chi. & St. L. R. R. Gen.
15,000 Western N. Y. St Penna. R. R. 1st
10,000 Pennsjrlrania Ce. Cell. Tr.
40,000 Southern Railway Equip.
20,000 Pacific Tel. dc Tel.' Ce. Ref.
25,000 Buffalo at Suaq. R. R. lat
5,000 Lehigh Valley R. R.
40,000 Grand Rapids & Ind. R. R. 2nd
50,000 Wabash Railroad Equip.
25,000 Atlantic Coast Line System
Charleston 4 W. Carolina Equip.
50,000 Erie Railroad Equip.
t 20,000 Georgia Ry. dc Power Ce. Gen.
'Free from State Tax in Pennsylvania.
ITax Refund is Pennsylvania.
Rat
We
4'c
4?i
4?c
4fe
S'e
5 ft
4ft
SKaft
5ft
4ft
6ft
4ft
6ft
6ft
6ft
7ft
Maturity
19421932
2003
1981
1951
1937
1970 .
1937
1931
1926.1928
1952
1963
1928
1936
1931-1935
1927-1931
1934
1941
Price
100J4
84 4
84J2
87J2
88;,
98
98j2
91
Mkt.
9454
103
85
Mkt.
Mkt.
Mkt.
103U
Te YUld
4.47
4.75
4.80
4.80
5.10
5.13
5.15
5.25
5.40
5.40
5.40
5.45
5.50
5.65
5.70
5.70
6.70.
REILLY, BROCK & COMPANY
306 CHESTNUT STREET
, PHILADELPHIA
1
I
i
1
1
I
- : 1 1
MM"','MIWllWlll,,,,'''''''seaaMMs;
Liberty ?Has ...
Tiiberty 1st -1m ..
Liberty 1st 48
Liberty IM 4Vi8
Liberty 3d 4iJ
Liberty 4tb 4Ks
Vie Nete V, .
Vic Nete 434s .
1:30
Hlah Lew P. M.
. 00.20 00.22 00.20
. 00.70 00.70 00.70
. 00.80 00.70 00.82
. 00.02 00.48 00.52
. 00.80 00.84 00.80
. 00.00 00.80 00.88
.100.02 100.02 100.02
.100.04 100.GG 100.00
LONDON STOCK MARKET
List Shows Stability, but Business
Is Net Brisk
Londen, May 16. Completion of ar
riingements te ilistrlhuta 10,000,000
additional from the Government's war
indemnity te the railways of Great
Ilrltnln created a feeling of cheerful
ness in the shares of domestic carriers
en the stock exchange today. Changes
in the group, however, were irregular.
There was no feature te dollar descrip
tions, which Anevcd within narrow lim
its, geme Argentine rails wcre'ln favor.
There was hesitation in the oil de
partment, where adjustments were in
progress. Royal Dutch was 41 Vs. Shell
Transport and Trading 5 3-10 and Mex
ican Eagle 3010. Sentiment in the
industrial division was confident, but'
alterations wire mixed. Hudsen's Day
Lwas 0.
KUDDcr snares were ncavv, moving
with the crude article. Kaffir) lacked
leadership and trading continued te be
confined te professionals. Gilt -edged in
vestment Issues were quiet and easier.
French leans were lnnctlve and soft.
Generally, the markets tthewed sta
bility, but business was net brisk.
LOCAL MINING 8TOCK8
TONOPAH STOCKS
Bid
Caah Bey 03
Jim Butler 00
MacNamara 11
Crescent 112
Midway 04
Mlzpati Extension Oil
Mentana 08
North Star (M
Re-cue Eula 10
Tonopah Eit-mlen 14
West Knd 014
West Tonopah 02
DIVIDE STOCKS
Allied Divide 004
Alte Dlvld 004
Ilelcher
Ilelcher Extentien
.Ot
.01
l
w
M .
JA J
Kt
K-
Bfia,'
mt. a:
m
wr
3k,r.
ISG
Wl
I .
ritrt .
IJi. r
A New
and Improved
Graphic
Tax Chart
We have available
for distributhBJa
chart which spivs'
cliarly the co'pi ce'pi
pmatlve difertnee
in net yield ' ' .
bttwun nen-tixible
bends and these"
which are subject
te Federal, state,
or municipal
taxation.
We shall be fleastd
te mail a copy
upon request.
y
v,
m
p
.-
Municipal Bends
Exempt from all Federal Income Taxes
State of MiiMuri 5 Bends
SUtsef Oregei 4 Bebii
Due Yield
1934 4.20
1943-1148 4.29
1937-1944 4.20
1927-1939 4.25
1940-1947 4.30
1937-1939 4.35
1927-1947 4.40
Is 1941 4.50
1941 4.50
MX,-
'' Citv at Akraa. Ohie. 5 Re.dt
S1 Citm of 1U. nLU HC. H..J.
City f CelnabBi, Okie, 5Vc Bends
City of CehmbBs, Ohie. 5, Boidi
City of New Orlctu, La., 4V2 )
State of Seeth Dakota 5-, Rural CroeJit.Bondi 1941
State of Sestk Dakota f Beau Boidi
FirttTtzu JoiatSteck LaaeJ lank 5 Beadi.1941. opt 1931 4.75
WaiUaftea Ce., Miu.f Draia. Dili 9 Beads 1132-1938 9.00
Legal Investment for Savings Banks and Trust Funds in New Yerk
Compute circulars en any of the above sent upon request
W. A. HARRIMAN & CO.
INCORPORATED
751 Drexel Building, Philadelphia
NEWYOnK CHICAGO
BUFFALO SYRACUSE
llreuah Divide 04
Divide Kxtenalen Id
Divide Cen !'
Dividend 0'J
Rait Divide- ODSa
Harmlll IS
Knox "
Silver Kins OOVt
Sutherland
Tonopah Dlv'de "-
Tonopah Haabreuck '-'
Victory Divide 01
vrrae uiviae ...... .v.
Zuno 11
aOLDPIELp STOCKS
Itenth '. 0:1
ComWn.-.tlen Fraction in
I Craclterjaclc 03
Diamenaneia uiue uuiu.
Florence -
Oeldlleld Cen
Ueld Dev
I Geld Deei
.(treat Bend
1 Jumbo Kxtenalen
I Knwanaa
Lene Star
Ore
Red Illlla
Silver Pick
Spearhead
MISCELLANEOUS
lAmoare 3
Arizona United
I Caledonia
Candelarta
Eden
1 Emma Silver
Eureka creetut ,
Eureka Helly
Heel a
Manh
Mether Lede
Nevada Illlla
Nevada Wonder
Hucceai
Tecopa Mining
Volcano
White Capa
WUuert
."e
.07
,0i
.IC
.OOVj
.nt
.0L'
.01!
.01 1 a
lei
,03
,01
.an
OS
.0i
'
!eiTi
iTi
.in
.11
.01
.1'4
M
.lit
.4.1
.011
Tlie brief outline of the "house, clean-
lijl" which Seymour L?. Cromwell, pres
.ident of the New Yerk Stock Exchange,
gave at tee dinner last Thursday, ten
eered him by thd members of the Phila
delphia Stock Exchange, Is, still n live
topic of discussion in .financial circles,
net only in this city, but In the tnctrbp.
oils ns welli .; ,
"A treat manv have 'net taken alto
gether tee kindly, te, .proposed drastic
curatives Mr. Cromwell and, his Ueard
of, Governors tare planning te apply,
and rather strong feeling is growing
against wnst is termed en autocratic
pO'lcy. It was stated in usually, well
informed quarters yesterday that some
of the biggest houses en the street, both
here and in New Yerk, are taking
exceptions at some of the pointed in
terrogations in Mr. Cromwell's ques
tionnaire. One banker went se far os
te" say yesterday that If the outlined
is carried out te the letter, there is
likelihood of ,. some large Investment
houses withdrawing their membership
from the exchange,
;It was, pointed out the profits in
bend transactions en the fleer of the
exchange ere relatively- small, and the
greater prenta or most et ine larger
hnusM urn riftrlveri frnm syndicated op
eratiens. Many of the Investment houses
pay 'little or no -attention te the stock
end of the game," except in purely in
vestment purchases,' which ere nlways
outright, -which means the stocks are
taken up and put In strong boxes. They
say If the stock exchange officials arc
niaklng a strong play te bid for public
favor tney cannot afford, ei me
time. to-Slen the face of members of the
strongest houses en the Street.
Transcontinental Oil Splurge
! There is no tonic se electrifying te
speculative' imagination as the mere
hint of the, se-called "Standard Oil
huvin " A fnreihln Illustration of
which is glveti-in the remarkable i -point
upshoet'ln Transcontinental Oil, which
in yesterday's market was the most
active and strongest spot of the petro
leum group. The Standard Oil Cem
pany of California has a rl per cent
interest in a lease of a very premising
p'reperty en .the Pacific side of the map,
and en, which property, It was re
ported, two big flowers were brought
lp the last few days. The movement
of the last ten days attracts tnore
attention because up" te a week age the
stock' was "entirely friendless. Ne one
wanted it, no one had taitn in it anu
the only side looked at was its un
pleasant previous history.
, suddenly,, some one was crazy ever
it' and somebody was buying it by the
ream. Then somebody discovered the
Standard Oil crowd were the buyers.
Thercst was easy
Brings Dividends in Sight
Almest two ' months aee. during n
brief visit of Ihe New Yerk resident
member of n well-known banking firm.
he remarked the best money-maker en
the list for a patient homer was Hen-
nccett Copper. He asserted he hnd
the very best kind of Information that
the stock was being quietly accumulated
by some of the strongest houses en the
street. The stock was then selling
around 20. The stock, up until yes
terday, failed te show the first slims
bL'onimatlen but, in the meantime, had
slowly crept up In the neighborhood of
mi. in lact, the market has been
Within a range of .11 te 33.
Yesterday, it began te show Mens
of life and then bullish news became
plentiful. It was moving nt last and
started because of a renert that the
Mether Lede Coalition Mines Company
win Finn uiviuenas Deiore dune in at
an annual rate of a $1 a share. Ken-
?
i fal'liijjl inn itm-
.v
. IK.L":,Vll"1W
tte TjsWwf tliiiti!j;rii,
wWck-drvfiRnaTwlffc-
Utah Ceiw, Conway, it .was figured
would permit the Kensecett te re-enter
the honorary' list of dividend, payers.
Era of Better' Frleea
William A. Law- president of -the
First National Bank, In, discussing the
business and financial outlook, says :
"The country., has entered'. Upen an
era et4etter, prices and, whjle general
conditions arc ter from normal ,
some of the great basic industries arc
miking a much better showing than for
m-rly. This Is rietably, true of steel, the
metal-working branches and minding
construction.' It is noteworthy also
thnt the automobile trade, which suf
fered from about as' serious nn inflation
ns any that the war excitement devel
oped, shows signs 'of healthy .revival.
The whole country is reflecting the
benefits of price stabilization. In some
Industries concessions already made
have net been adequate and additional,
inducements will be necessary te en
courage bread buying. But the manu
facturer, the wholesaler and the re
tailer are realizing the necessity of of
fering their wares at a price .that shall
attract a public which is determined te
buy only at a fair deflation level."
Freight Traffic Improving
Officials of rnllreads operating cast
from Chicnge n ml St. Leuis ..reported
improvement in the traffic . conditions
with the 'exception of coal, the miners'
strike naturally precluding anything but
a decrease In thnt commodity compared
te a yenr age. In general merchandise
the movement is Increasing as compared
te a year age, and there is nlse'a gen
erally heavy offering of building mate
rials of all kinds. Steel products arc
being shipped In Increasing quantities,
and there is nothing in the way of, re
turning prosperity except the. coal sit
uation se far as the railroad report!
arc a criterion. Fleur business, Is mod
erate, and the shlpment-ef grain is new
mainly by lack, and the movement from
the farms Is of small proportions.
Officials of southern Iliieti find about
the same conditions as prevail en the
eastern lines. The light coal shipments
have brought down the total volume of.
tennage te probably less than for the.
corresponding 'time last year, but if the'
coal was normal the total would show
n substantial increase. Lumber ship
ments; arc liberal, and there has been
a heavy volume of Southern produce
shipped North. General merchandise is
moving in liberal volume. The move
ment of grain te the gulf ports has been
of moderate proportions. r
Independent Steel Merger
The following statement was Issued
from the office of Themas L. Chad-'
beurne, general counsel for the six-company
steel merger:
"Thcru is no thought In connection
with the proposed merger of Brier Hill
Steel, Inland Steel, Mldvnle Steel, Re
public Iren and Steel, Steel and Tube
Company of America and Youngstown
Sheet and Tube of violating cither the
Sherman law or the Clnyten act.
"Aggregute rated Inget capacity of
these companies is approximately only
1G per cent of the total rate of ingot
capacity of the United States, while
production In 1020 was approximately
only 17 per cent of the total production
of- the country in that year. Operation
of the properties of thesix companies
as a unit will result ima very smbstan
tlal reduction In costs which will en
hance rather than rnstrnln competition.
Ne monopoly will be effected nor will
there be any restraint of trade. There
is no bnsls whatsoever for the Impres
sion that it Is proposed te act In con
cert, by agreement 'or otherwise, with
the United States Steel Corporation, or
any ether competitor."
This statement fellows the wires re-
-...A.'.P.e,tlT)JJ.. .
'WTrxmwiTm
"V.i
I
V. -n
9
Ir.'v.rlens'iteel'Wrt-Wl.WMln-a
merger from Uhe' Fa4l4l Tr ' COtt
XTeVrttlS
merger before final consum-natlett or aq
7...I ;-.... VedarnlTrade CemtnlSf
slen acted as Instructed by the , Senate
nftctf adoption et the L .Fellcttc rese-
iutien. 4 j
v ' , Firmer Cepptr Market '
The copper market, shows a much
.firmer tendency. .Seme of the leading
selling .agencies are quoting firmly at
13 cents per pound rer acnvce .
tended ever the next two .months, while
ethers are still accepting- business at
Lift cents per p6und. However, U 4s
stated in seme quarters thnt the, ?"cr
itm at ttuviinu-Ai rtmirn are gradually
decreasing, and, thercforetit is predicted.!
thnt J3Viv cents win oeiuc emy quu-u-tlen
before Jeng.
There, has been an Increase i In, do de
mestlc buying of the metal. Consume
ers in this country have been taking
larger amounts and arc showing a ten
dency te place contracts for their fu
ture requirements with mere freedom
than 4it any time in several weeks.
This is taken te Indicate confidence en
the part of the users In the present
strong position of the metal.
In addition te the domestic demand,
there has been increased buying for
expert', with Germany among the lend
ers.' 'Ever since the Kurepan nations
came into this market soine time age
thprp linH liepti it steady buying move
ment, and the statements of leaders in.
this country that the supply of scrap.
abroad was about exhausted lias ap
parently been confirmed by recent de-.
volepmcnts. THE. TRADER.
LIVE8TOCK QUOTATIONS
Chiracs. Slay 10. CATTLB Hecclptf .
10.000 head. Fnlrly active. bef steers -and
nhe stock. fully,atuadyj no cholce sleera sod
early! hetf steers of iunllty te sell larniily
nt 47.0." te tS.ne: bulla steady te ntrnnn;
veal calves ttrena- le higher: steckrrt, dull:
eutalders pnyins I1O01O.SO freely for chelcu
venters; early sales te packers around $0.50
win.
IKlfiq Tterplntn. 21.000 head. Slew, lllif
packers delnir llttlci early tradlntr around tics
te 100 nisner ie yarn irauem anu anippnrs.
part of early advunce lest; top early. 111;
bulk, 11 0.45 10.110. .
SHEEP Receipts. 13.000 head. H toady
to'SOe lower. California tprlns; Iambi, lU.'.'S
15: fronds te feeders, MZ50: top' shorn'
Ismbt, 113; cholce-1 10-pound California shorn
eWea. tT.DO; soed fed Texas shorn wethers.
S8.23. ,
PllUhnrih. Mnv 111. HOGS Rnrilnt. ft'nn
head. Market hlRhcr. Heavies. $10.00 11:
neavy yeraers, mini jurnera uuu vwa. an, se
011.40.
HHBEP AND LAMBS Receipts. 100O
head. Market steady. Tep sheep, $8.S0; top
lambs. $13.60.
CALVES Receipts. 200 head. Market
steady. Tep, 810. t
East tluffale. '. ., Mny 10. CATTLK
Ilecelpts, 47.1 head. Steady. Calves, ro re
cetpts. 17r head. Htendy. taftU.
HOGS Receipts. 10!!0 head: r.iffine hlxher.
Heavy, $11011. a.'.; mixed. ll.'jsnil.40:
yerkTs. Ilsrht lerkera and plat. Ill.nn
11.40: a few, 111.15J roughs, $0&O.S3: stags,
13011.
KHEEP AND LAM11S Receipts, 000 head.
Htcady. Unchanged. v
Reserve Banks' Discount Rates
Offclal rediscount raes at the twelve fed
eral Reserve Uanks are ns follews:
Treat- Llh. Cem'l llkrs.
Ctrs. uends I'aper Accept.
llosten
New Ter;
I'htlaeelr
cieveian
Richmond
Atlanta
Chicago
Ht. Leuis ....
Minneapolis . .
Knnsas city .
Dallas
Ban Tancisce
....... 4,J
ark. !?
l4pk .... 4ft
. 4a
4'r,
it
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r,
-tVi
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4U
4'5
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.-,
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aTvS'' ':VT,',"aaaJ
I Ull llll I II '1
''''lBaaaiBBaa.
m
David ,WnHneyWdfl..r,m,,k
9mfmHi ltitt mjmtMtM aWa ,. Ur Ttl aau
r-" ' -' rmamtf-tnaf.
SI
Fer .durability. Msaf etv i
and lqy ce'at of maim )l
tananna . i u r l-i ff
conatructien.
McClintlcMarshall- ii
CemiMnv ;V.
"' Ceneral Oflkat l'lttabargh, r,
Philadelphia, Merris Bldg. ft
IftrTefk Chicago Ban Prancla-ii
T
McCteiic-MarsliaU
uH.uw4uQca j ''UlianiBS'
-v
$60,000
4Va ScKebl DUt Bendil
Dated April 1, 1922 fj
Coupon Bends ,fj
Denomination $1,000 li
Fram of Penneylvania StataTanl
Exempt from Ftderal Income
Legality approved by MeiiraJ
"' "" . munsea-,
MATURITIES AND PRICES j
$25,000 due April 1, 1942 'ir
106.84 and .Interest V
$35,000 ue April 1, 1952 );
108.69 and Interest '
Te Return 4.00 Per (wl
STROUD & CO. I
Incorporated
1429 Walnut' St., Philadelphia 1
120 Broadway, New Yerk !
J
1 J
m
Drafting ?'
Structural and General Plane
b, C FINStON v:
Civil Engineer
WO Chettnut St. Ioeet lltl'
PENNA. TAX-FREE BONDS
PAUL & CO.
Members Phlhi. Stock Kxrbanga
1421 CHESTNUT STREET
We De Net Carry Marginal Aeeennta
t....,..l,...11T1
A a n rianrcncp m;
A n.u, wn i ciuje, ec LU.5
Ceamerdal Trnat Bldg, phlla.
New Yerk '" n.m-r
nvmviiiiiiti'.'u..i
M
SALESMEN '$
rer nign-ciasa nnanciai organization. HSaiP;,
petteta personality and real talti ablins.
Apply Roem 204. 1 K. Frent itree". ?.?;
Ne Change In Raw Sugar
New Yerk. Mny 10. The raw augar mar-
fairly active
'or May ahlpment a
cost and freight, and for June shipment
Iiet la fairly
Cubaa for Ma;
Ullchklised.
luetea at
with
urn,
ku .rvtaii,, .u .v, mi, auiunipnc nt
',tc, coat r.nu irciant. naira yesterday In
ciuaee iti.uiiii ens. v.unat imy shipment nt
i-.uc. ceai uuu irv.ajii. ie a, iucui Tenner.
ions i.'udi.s in pert ut a,U5e. duty
and
paid,
30
alto
te a Iccal refiner. Importations
yetfterday Included 04,000 bags Cubaa te the
National Sugar Refining Company. 13.000
bags te the American Sugar Refining Com Cem
pany, ::.1.000 bags t lha Warner Sugar Re
flntna Cemrr.ny. S'.'.eOO Lags Cubaa Bnd Bone
biura lorte Rlcea te all Imnurl.r nnH jaa.
bast I'u.-te lllcei te ArLuckle Ilret, ArbuckU'
i.wp. .,.. ...w,,... .mi.un.mnii uuianct or
v puim i. .i.v y,,k w, i.uru-sraat sugars
te 3.10c, lets ! per cent for cash. Other,
wlae the refined market la unchanged.
U.S. Certificates and Treasury Notes
Int. Maturing
Rata Date Rid
T'i, June, is.-....!"" i.es
Iiihs 111V" Illlla.
ibH::::ioe
f2i,.,.iea r.-in
io2.,,.ieoo.te
i-.'2,...inn
in2'J,...100A
lH.rt,,,,lUU'i 100 10.83 I.Sl
1S2S....11U 101W Vln
t4; Mar.. 1B20....101K 101 JlJf
'-A.j.viiii'. i.. CT.i ..urinal income tax.
tAcceptable for payment of Income ta
t'flU June.
3U Aug.,
t4V! Kent..
f3'i Hept.,
3V. Oct..
1 Dec,,
j, ...Ml.,
s4I June;
3V4 Sept..
e4 Mar..
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H ft During 58 of theso years we have designed, constructed h 1 1
1 iPdhundrodseflndustrlol plants mJeSxSSiSS. Il
I lHfllll CTFn P A g-at.Vlaf 1
B WW Has.. S BTBT- Br aa B !. aTaT" (.'
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1 . ' ' S. Kttablltlied 1864 M M'S
I .9 Architects Engineers Constructors ' HK
H ' ,v-. IB - . PHILADELPHIA AND TORONTO ' )
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: mi HinilllMllMlTimHWIININNIINIIINIIIIIIIINNINIIIMIMINIIIIININNNIIIIsllllllllll 1 ' III iBwaTBaWfl
Atkel Tltld
100 3-33 3,00
H'O .1-1(1 8,01)
00 1B.82 8.10
100 1S.32 s.20
100 31.33 8.10
loe i.ie s.ae
il'S )-x s.l
100 10.8$ S.S1
due en one or maturity.
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