" vr.- . V "f r- WmmWW? wznumKmfwmFm ' . isnif'-twixtPifu ji n. iyz?tiiit . jv ' n - ,? mm , i ' ----- ' MHti-tA UKt-! l jvw yei?f bends a tasVt'.sv m mmmmi -, -nn tt.iv f t ,-f-. M A ? I t l . K. Yi 1 KlMi m. k Z J..aU, LVsuJ.ndArd VSiibstditrif t, n w r: , i lcriStil in Lw.i05kt.: )iW ft. May J20.-OI1 Mecks again lLfured speculation today en the Ctirb, Sfii new hlult record established in tha ftEndard Oil subsidiaries, where large f-Wki .were -purchased at the. outset, '45Cfchcral tone was streng.'wlth Ira ftaSil Oil of Canada rising .sharply 4 iSnts te a new thigh, at'llO. Stanfl liM Oil of Indiana was also In' urgent I'lektnd,' rising 1 te a nehlgh, nt 'tllittbi Men was, a further urgent A,ind for International Petroleum, Seh row te n new high, at 25?i. VSU INDVBTSHJUiB mm mmimm$mmm 2M5J. - iril ?a!839SS J ' , r.'.Vflir TFi MONbAi;, MAYm a2at 'ttVVf Mf'.fAftH '-JV 100 Acme Ceal , ' 5K Aemn Packing .. SCO Am prut WelWm r"ii . feM ::: I' ISMDrk On 0" Ills. Ij.J-100 Buddy '!" u'-vl.inftChni- Iren .... Chi Nipple iji... Cleveland Ami, h 8M 51 fj.fc 100 D Kff.SOOCI Wt'lanftl.'i .J40 C'elum 2"i W7l0flCente Tinfoil ;'f 4n Cenll Mir . . fi.t inn rub Dnm Hug . 1:80 High . Lew I'. M. , lU iiV ia , 67c Bite Sfte 2'4 'J'i '2'4 8$ 8 8 . 4'i 4'i 4U . 27 20 U 27 . SflU 86 4 SU'4 . 84 8, 84 . , 2(i 2 'S ' . 8', 8U SVi . Sa, 3H S'-it : .f lift . tl'j us n . inu- inu mu . 8BH 85 , Art np 8.... 100U 7(tal)100it 8.. i, IMTt ,i 1. 1.. 10OH K... 100H , n... ieh "i.... ies ,..... 103 Cfty BerJ'x v 1.1... 87 1..... 88 -l.,.J( M City of Ceptn- a.:.;., ea'4 3 034 OS . City Lyen Oi 1 87 1 87 Clt Mart' 0i! l 87 3 87 1 8014 1.... 87 Cty Rie d Ja ntrlq ( wl 4.... 108U 1..., .108 i . . . . leji; 1.... 109U I.... 103 C Pert.AIf r It.... IOZVj Cty Sae Pauie 81 wl 2.... 108U . tALK8iM.U)r e T(l 3...V 1B IC'k'A 0 2.x. 1041 ft Cuba 8i'M 3..... 8 'A Ittpe of Lru tuay m . I.... 10BH i.... leau Se ferta R a a rela i..,.i n8"i l.i... 0814 9laU of, Sae . i.... iesii 1.,..108H 1... .' 108( (at efRUi Du STel ! U.... 1014 Swltt'd con 8i 3.... 11TH .1.... U7i V K Ort Drlt I'-d 1823, 20.... tejm 1.... 108H 3.... 108 ,1V.... '108H J.... 108H U K Ort Brit A I'd 1B30 28.. 8.. 1. 1.. !.. 1.. 108 ij I 8 108S 108"i 108H 108S 108 10SH 1081 108H City TeUI 0 U K art Brit Xht A aiAfi tittf XI tm 'Sileilud Mlra '-'Hi 2IU 21 liMOIen Aldan Ceal ., 02 4t M M? lrl"fllwr Tire ... 18U 1g's 18 WjVioOOeody Tlre.pref .. J SH'iV 80 Si iSMOeldHyn Pic 8S 7J4 8 8SVi ft I Uia'ai r nrtnrlnt Melnr S i0OIIJden Cham. . El J00 Hud a Manhat fJi MI n T V T ...... Mfl KM Mone e ii .... Una t.lnc Mtra A . . ... ) 100 Tack Mtr iik) Vrer li Mtr JilMOThllllP Mema ..,, )M0 Radie 1 QV Jinuiu i..di .... ,11100 Moen Mtra MB tirput lie lire iiuw :oe 75e MS . R'4 . 8.". 10S neu 7ftc ii 10i lit 80 i 20H B'i 8 10 !i II V! iSe 4t 4S at i 10 AOH 21 i54 0.IC '120ORM ioier ....... . jse sn 'Til)) Niuthcfn, Ceal and Ir 78c 71c 78c frl.fOOMnlfl InlornMlenal 20' 20 4 S0J4 M',UTe.M lliln, Tr4 77H t74 jl ir" ... -'-- ---- 1 1C00 U H 1. ft H 'VU 8 J inn tin Ret Candy filRiOOOU S Sl:m li ni 10r 7U 4 IU 10c 7 3' 7Be 2IH 12 nn 21 12" en li fn Tref Shnr no v V, 4VH I'll nn vw.im. V mnn'mni (-'Oil 1. f . A.i t'i T!n.t Phim .. 7.1c ir hTANDARO ena tl Anale-Am OH ' fTO Atlantic Iibea tniUlrnA. Oil . . . W 1310 Imp Oil Cannda ,.121'j 118 M s El V-llrl) O O 0 1,38 j? MPralrln I' 1 248 248 llllOD Hiinn uii or no i ..nv imi iJOOHAinl Oil Ky W I. U8V4 04U Sf MFtaml Oil .V Y....41K -.12 SSI, fi) Vacuunr Oil 41". 411 " IVS 100 AVlnix f.yietl Alcnn iV4(00 Alllel Oil rti ,MiA ItninA rill hl 10e 7i 3c 2IS 12!, M .121 '4 rth 241T iini 418 .413 1M)LI'KM)ENT Oil ; 1000 lloeni Oil ....... V ft 170J Hosten Wyemlnc . i ttOHrltiPh Coitiel .. WjllMO Ciirlh V 0 Curl j 8n Tradlnc. 171 -lllea Serv (eia)t. i 10 ('.ilea Hcrvlce pref. ; Jfti" Columbia Pet. , . . . ' tee Columbia n .... ', loot refle Hsn i' Moe hnrli eera' Petrel . . !fMd KederAI Oil lAlllerenMiiivl ifr mia .fimiMH nil iTf JJOO Olcnreck Oil trMmniludfen OH MjJUlOOlnt, Petrel tfe' iJOOhlrby cPt i I .. .-.:. .. ' iiv i.iingiien I'ei ISOII I.vem Pet l20nMmrlsni1 Oil Afjx . ri two Maracalbe Oil . . . aw Marine oil . ZOO Manaav if'jnOMirUnd Htf .... vlt0 Merrill Oil ISflO Mexico Oil 1 4100 Mexico Heabcard . kiwi Mountain I'rea .. ,t00 Mutual Oil 300 W Vnrlt OH ... , tVm Neble UllVUI VnMk.. nn n two New Kn Fuel".! ltl00nmar O.I JOOrennelc oil .100II Red Dank ''JOORjan Cent 1 IMO.Ialt Creek Pr"ed (1100 Salt Creek Cen . . '' 200 Saoulea Ref ;00 Sf aboard n t, a.. 1" A09 fclmma Pet !JM0OSkelly Oil jj-4000 Southern P ft n . PIOOrtHtanten Oil ' lAtAA Tvn i i SWi Turman ' eit-Ulx ' '. '. 4l en Venezuelan v SOnU'oedU I.f iAA l II. M. , Itoeov en . . ii, ' 3UMNU llWAIas Br Celum .. """ American com . . . 1000 II ar !.1r !. J??" at Ment ..'.', J,' "en s iient com. rflni) C'tkHnAm l..V U.v60OCandelarla ii "I!;! , LMtA linn il.l,. p I JI00 Cun. Cep Jf" .'..'.' iiuii upriez Hll:r .... tOOnaiib rial.. inft I liHi Rolerei Kaperanz , wee r.ureKa uieeaua .. 5" 8c lc BSe 1? 2. HI . 1N14 . U . 1ir . 24 . 27c . 27 . m'i . 14k . 14 . 0 :2 . 2W . 8W . 1"J . 4ii . 11H . 2 . 28V4 . 38e . asc . B't . 24c . 0 . 10! :lJ . IK. . ie . 420 . 38c . 83c . lr . 7 ,s 18c IS 3c' 121 84c 23'l or. I'i 2 a4 80c 14 174 ft 2flc 23'i t I 3 A 4.I 17f OW 2S 81e 83c B2 5 24r B4 184, 14J iJ in 40c- 3m 80c 4'J 18c , 3 8c 12c 84c it 12 n!'4 05 at U 30c W 260 2W lOtl w 34 15,4 0i 2t 31c 83c r.t 24c 0 IBS 14S 4 li 10H 10 42d 811c 84c 1JH O 18c 1001 Uallna I0OO Oelrt Cen . . pm (leidfleld Kler tOOOQeld States ft t i. Jlra "neii . . . . ' L.?!Heda Mlnlnc ... iirai indcpen lad .. .100 Kerr Lake . . . . ,!'SJ 'en Star .... 1-Miri MlJfffi ' jii .Masen Valley .. UlAA Vu. .. n.i.. A'SSSda Hll Hern ,i i .-ipisi ing . ''win Jim liutleV: .' MOO Magma Cep r 1000 Rh llNctiil 700lnex Cena lemisiur Dai, ' .. ''" ete arn jun 8000 Huvceta Mln .... !5!!Zen,l,h "elment . TlOO Tnnnnnli 1)1. M ' JS?. Tne,,h Kxten . '. '. , .11' '. H tOnl I, M0 United Kaat ...... '. 4?i"2 United Verde . , w f L2.2 nlcatie XHnea . . . ' 5J! )v'"' '"nd Cen .... ,i J0O0 White Caps .100 Yuken Oeld BONDS JOO Allied Pack 6a JOOOAllleil Pack 8a 525OAum 74 28 ... W0 Am l.iBht 6a . . .aoeOAm Tel 0a 22 ...100 .wOArn Teb 7a 23 ...ina'A 102 ;25JAnaren 7 20 ....103 103 222 Armour Ce 7a ....104 aSBSs.:.,.iy.JS! ".S5' i;Kr. vn ana . . iw IaK.""" '! Xxi nc'n n Ta 30 0C 2c 2lte 83c 42e 3lc S4c 1A 03c n; as 28c 83c He 20c Ufta lOe 87c Be 31Vi 30c ' 10 BNe 10c n'i flc iiV 7n 3u 4c. M iTc 38c Oc 14c IS 81c 51c" 1U 20 tt 30c IrV 8 020 J'4 Oe 22e 10c 8.a 42e 31c fi4c lA 83u Kc 20c 2ltc 10c OS OBc 84 "C, B'i Oe 22c lOe 82e 40c 30c 64c 1H 01c S 2S 27c 32c 7n 20c 2e 10c AS 60c S'i Bn 8IS am "S 10. BOe On S" no 7c 3e 4e 1Uc Oc 13c IS 77c IS Sic 2 4C 8A O.'e 8..... 71, tih Ciecho-Slevak lUp'e 8a wl 1 074 3 Q7S 0 08 Denmark con ct B 8a 1.... Ill 1.... Ill Dept Heine '7a 1 P814 A(aale) 9S 2 (flat) 03 S 7(aale) 034 4.... 1.... 4,... 1.... J.... 1.... 04 04 ns ni 0314 03i 08 S OSS OSS D Canada ".'6 fl 00 D Canada '20 1.... 100S D Canada. 'HI 20 08S T(aale) 08 S -(ale) 1. 08S '02 Wl 100 100 100 100 De Can 10.... 10.... 1.... ' 4.... Dutch E Ind'a rcta '47 4 OS', 2 OB 1.... 04S 3 0T4 1 03 5 OB Dutch K lnd'a rcta '0 031; 0B PS OB 04 OB 04 '4 04 S 04T4 08 04 T OS 04T4 2 04 S (leie't French R 74i rcta 32(flat) 101S 101S 1.. 3.. 23.. B.. 3.. 6.. 4.. 3.. 8.. 1.. 1.. 8.. 12.. 10.. .1.. fi.. 1.. 8.. 8.. 211.. 20.. 11.. B.. B.. 1.. 1.. 3.. 1.. 4. 1014 IOI14 101S Mm 1014 101 14 101 V4 1014 101S 101 '4 101 Ta 101 103 102 1014 101 j 101s lleie't F R 8a 103S 103H 108 V4 103H 103 'A 103S 10S'4 103H 10SS 103H 104 104 103U 103S 103'j. 10V4 38c Oq nc 1 7c 4e .. 10c 38e llu 14c IS 81c Sic n 20V4 BOc 02c 10... n s!.'! 1... 1... 1... 0... 4... 7... 10... 17... 2B... 1... B... 1... OVd Trunk of Can 6a rcta B.... 103!i 6.... IO.V4 1.... 103S 4.... 103i Or'd Trunk of Canada 7a 4.... 118 1.... 112 1.... 113S Jap Cleven' t 4i B iT'i 3 77'i 1 77 1 77U 6 77 K Baltlum Am 3.... 1021, 1.... 10J4 K Bairm 7a 3.... 10814 1.... 108S 1.... 108H K'a Belf'm b 1.... 107 1.... 107 Klnsdem Den mark ct 6a ft I'd 1937 1... tee... 1... .i::: 1,. 1034 102S 102"t 103(1 1034 102',4 17 8 Brazil Sa .. less 105 S 105S 10514 108S 103V t S Mexico 4 3.. 1.. 8.. 10. 1... 10... 3.1. B... 10... 3... 8... 554 S5H R5S 68 Vi 65 M B5U CO J H Mexico .la 4. I.... 5.... 8.... 1.... 6.... 5 Ufd H Lane 5.... b...: 5.... 10.... 85 S 014 '. Hlli . 68U . 86U . 60 H ant? . 60i . 60U Mexico 5a . 63 . 02 'i 02 02 m'n Aare ft Chm 7Ua I.... 102S 2.... 103 7.... 103vi Vmn B ft ft 3i 1 03 1 03 American Sui Reft Ca 37. .. 100 U I.... 100U 8.... 10OS lO.... 100S 1.... 100S .... 100S tmn T" ft T clt 1 nes A Tel A Tet 5i 1 07U 4 07U B 07U U.... 074 5 07 'A A Tel ft el 6f ! 115 Amer W P Oa 3 88 1 89 '4 Ann Amer 41 1 88 ' A T ft HFe 4a 80 80 an 14 88 S 88 S . 82 . OHS .less IQ7 0'4 82 08 103( 107 100 104 S as M1 i2TAKn '.' ": Kq 7a.lOS I ' taXaJ. "' P'W B ' .000 Cen. ilk. T. ft 24 leas 104 63 1; 10B 104 S 102S 100i 104 00 82 ns'i 103S 107 1O0S 102V4 108 t3S 104 054 103 104S 102V loefl 104 DO ! DO iSM-VO" l' 23 ....105 104S 104S 13000 Preep Tex 7Ja ...12BS 124U 125S ' UWI llAn. v. v: ." .... mT n4 1AAA .. '. "'I7 ...l'i 1111 va 1111 ya inni;51rP'1 ,Tr "Ha ...103U 103'4 105 U SSi,.U,,.tU1 '.-'. .104 104 104 innn J. '. nuoeer la .. u4 H'4 na'i IoeS!,umA"?9" T" .,.101. 101 ,. 101 H, iSS? inlerbern 8a ffi,"ll.C.I 08 ..10BU Mn tlr"""" J la ..iiinu ln 10000 1'SfJ'A.'" ix s ie 'i 'iS'S0 !'.,by McN 7a .... 00(4 09 i JSKrjt": S mmg& VII lSHr2tfitaV i -v v.y i.. 22I100 ..ins 1M S X ! S8..108! 1000 H 11 8J.'3i 100U 001. D7S l,,'H SOU . DHa 05 VZ 8111 80S loe; jet 08S flH 10041 1004 less iebC 1021 ,10241 inAiT leaiZ 107 107 inr ieis !2w nn 108 107 , 1074 .74 ' 20 1.. 2.. 3.. 1.. B.. 1.. 1. 00 S 00U 00'i no 00 09 oes Kingdom Den- marK ci na 1.... 110S 0.... Ill U. Italy OWa 5 0 B 03'4 2 03 K of .N.tbe; land! et ea 064 07 07 07', 07' 07' 07'4 07 S 07S 07 07'i 07'a 07'a rt-r way ct 8 1.... 110 1.... 110. 7.... 110S K Sweden Ha 1.... 102 8.... 101', 2.... 101S "3.... I01S a.... im . 2.... 101S Parla-Lyeni M 6a wl 1.. 8.. 4.. fl.. 10,. 1.. 7.. 4,. 7. . 1.. 2.. 15.. 6.. Klncdem 4 2 4 2.. 1.. 4.. A Tranacentl'l B Lin 4a 8 SSi AM Ceaat L 7a 1.... 100 'A Atl'e l'rult 7a 1 41 A Powder 7'ia 1.... 107 n .A-... Halt ft 6he cv 1 B-4 8 82 U 1 82 U 1 82 S Bait A Ohl.il. 1 85 S 2.i... 801 Bait ftNOtlle 8a 1 09 S 6 86'4 Bait ft Ohie Hi 1.... 100 B 00 1.,... nes 1 9'J OCaale) OOS 8 80T4 1 DDK B ft O P li.tl IWVi'i 7 70i i 704 Bait a onto a W'n SUa 1 OOS B A O Te. 4a 2 08 Barna'dll Cerp b 8a 1.... 106 Bell Telephone of Pa 7a U... I07S 8.... 107S B Steel Ba '30 0 02U Beth Steel 6a 8 88S 10 08. Brad'n Cep If Cemp'y 6a 1 08 '4 Bkn Edl Cn'Ba 1 04 111 Edla'n D,7a lOf'4 Bkn Rap T Sa 0..,.. AS B Rap T ct H 2 flt B Rapid T 7a B 84(4 3 84 '.(.ale) 84 '4 1.. 8.. 50 B 10 82S 3..,.. 82S 8 83S 5 2'4 1 82S 1 8Jb 10.,... 8214 1 824 1 82 S Queen'd 6a, tvl ,... 101'i Qutenal'd Kxl Lean Ta !.... HOW 8.... no Hep Chile ".'0 1...i li V'.... 108S IUP Chile '41 3..,, 10S4 .,l. 10V flap Chile '40 .,., "8. 83 S 834 83 0 CV Si 1....C DST4 4..... 0t4 3 04, 1 94 Chi A Alt Hif 8H 1..... 6S 8 SOS 15 SOU CM UtQli 8 fid C B A O '4i 'b,.-. . 105U a.... 105H 15....' 10BS ie..,i( ies 8.... 10BU C AKI6,'5t l.w.. 80 M'i 1 SOU Chi A O W.4I 8 Mi, 1 01v 1 Ot 10(al) 61 C I A L Si '47 8 03 Chi Ml) A Pet Bound 4 a 3 72S Chleaae Mil A BtP CV 4'4i 1 71S 3V... 71S 8.... SOS Chleaae Mil A BtP m 4 '4a 1 86S Chicago Mil A Bt P cv Si 2 754 S 76 3...,. 78 .1..... 7BS C A Nnn 0",a I.... I00S C R 1 A P fd 8 81 U Chi A W I 4i 8 74 1 78S 1 7SS C t IV 1 THi 1.... 10211 Chi la Cep'r 6a 8...S. 01S l...r. nis i nts 1 1S 1.... 01 u Chile Cep'r 7a 1.... 10041 1... 106S B....i 106T4 CI'd Cln Chi A St L 4(4 6 80.. 38 SOU C C C ft Bt L Ser A 6l 1 00i- 1 OOS Cole A S'n,4e l.... 87S 5 88 Cole A 8 4S 1 87 '4 C Tab A R 1 07 Cen'd Ceal Ce f Md Sa 3 87 S 5 87 7 87S 8..,.. 87S Cuba C'a Sua 8a ata 11 81 1...T7 83 Cuba. It n Ba 8 HI 3 84 2...,. sa Cum T A T 6a 2 04 Del A Hud cv 1 07'i 1 0711 D A Hud B(4 1.... 100(4 5.... 1001. Den A K O fd a 504 1 BO 1 50 D de Nemeura Pwdr 04a , 1.... 107 -J... 101 1... 107 1.....107S 1.... 107V. Duq Light Aa 1..-..' IOS'1 Bmp Oai A F 7Sa rcta 4 08 10 OSS 1 .'.... 08 r. en. 10 08U Erle.Oen Lien 7 BBS 0 03 1 B3 2 BBS 1 85 1 55 Erie R R cv A 61 ill cnli ' . 8.,.. UOK Indl'a Steel Sa i..:.. ss tnt'e Met 4 S a ,... iffy A 6 1 1 Int U ct 1 2...N. 14i.... b; , i , , 17 '8d ,, , 12. ... H .!..: 1..... tntb'e ft !..,, 10..'... 2 1.. 103.. 1.. Inter'! Cement! Cerp 8a, 8.... 11214 I H Marina 6a 1 10 15 18 4 14 a IBS 18 16 1 10 1 18' 18U 10 10 T fd 1 70S ' 71S.S 70 ,70 70 70 0,. ., i Si.,.. 3..., 1.... 1.,... 10..,, I N Y Cwit'l Oi 25,. 1... 1... 1... 10),. 3... 1... N Y ,8.; ale) 07 7 07 07 97 07 r e.Vtj 91 03 S 8 03 n.i 05 3 1. 1. 7Ji 1. '. 3. tnt'l Pap b Bj 8 86 B 80S 25 Sfl 10 .... 88 lewa tent' i 4 fl 47V 47 3 4714 lewa Cent' I Aa 1 .... 83 '4 Jullua Kayier A Ca 7i ret 1.... 103 1.... 104 Kan cUli 2 88- 1 87 S Kelly Sprlna'd Tlra 8a 1.... 108 1.... 108S Lack Steel '28 7 09 Lake Shera M S'n 4i '28 , 3 04 Laxa Shere .vt fn 4a '81 18 92 LiHilah Val 11a 1..... 02 Leula A Naah M.ne 4a n ens 1.... 103 i.... was 1.... 103 0.... 103. Le A Kaih 7a 10.... 113 i.euia .gan Mile B'ja B.... 103 4.... 103 . 1.... 103 Manati autar Ce 7a 4.... 10O Man Elev'd 4a 1 67S Market St Rly B Fran let 1 (flat) 00 1 00 5 90 10 80S M Oil rcta 7 9.... 107 2.... 107 4.... 107S 1.... 107 4..:. ;107 8... 107'i 4.... 107 5.... 107 Max Irrlr 4 He 1 45 6 45 Mtx Per'm 8s 10.... 107 Mid 8 A Or 5a 6. 10. 1. 10. 10. "1. 1. 1. 52 53 B2 B2i B.' B2S B2'i 82 'I Crla RR cv B 1 ' B2 1 BIS 2 62 1 B2 8 82 '1 Crla R R cv D 1. 14. 11-. 6. 0. 1. 2, 11. 2. a. Erie 8. U Elev let 85 Canadian Cent Elec Oa wl 2.... 101 Canadl'n Nlhn 6 rcta 1.... 113 1.... 112 Canadian N 7a 1.... 112 Cana'n I'ac 4 6 78 2,.,,. 78! B 784. 1..... 78S Carel' cllnce A Ohie Si 23 00 n 00 8 01 , BR , 68 . 38 , .18 , 58 , 88 , 68 . 58 , 68 , 67S lit en 101 105 Erie KR Ce 4 s 4 03 6...... 68 ' ,A4S 10 '65 Erie A Jr Oi 4 OS Fram'n Induat Dev 7s wl 1 08 1 98S Franclace Suf 7a wl 7... 101 U Cen'ee Rly Os 8 OS Gene'l Elec 6s 8.... 101 2.... 101 Goodear T A Rub'r '31 1.... 102S 102 103 101 103 101 108 108 102S 102 102 102 It 1.. 1.. 3,. 6.. 7.. .. 10,. 0.. 2.. 8,. 8, 123 128 128 128 128 123 124 128 124 , 124 124 .124 3 A ODle 4 Hi 1 87 2 87 1 81 J A Oev 4 1. 10. 4. 13. a. l a. 4. 1. 1. Geed) ear Rub'r '41 1.... iibt. .Oranbv C Mi's i' Ii 2.... 100 ONthn ft Ba 1.... 100 5,... 100 a.... 100 B.... 100 I.... 10OS 1.... 100S 1. 4... 3... B... 1... 1... 8.. 01 01 01 01 1 01 01 Min A St L 4a 2 47 S 48 1 48 S 48 V K A T aJ wl 20... 10... 10... 5... 1... 18... 57 67 67 67 57 57 57 V K A T 6a wl 8 83S M K A T 6a wl 22 83 Me P R R 4s 0 04 B 04 1B (14 S 1 04S 4 Of Me i'uu ." -M! 1... 1... Me P 10... 1... 0... 1... 1... .1... 1... 3, . 100 . 100 R R Aa .. 00 .. 00 .. 09 .. 09 . . DOS . . 00 . . OOS uv'a Mentr'l Tram- win 5s 1 83 LMerrls ft Cem pany 4a 0...., 87 New Enc Tel Ce Sa wl 1. A.... B. . . . 2. . . . 1.... 07 S 07 07 07 07 2 07 X Or'a ft T 4i 1 70 New Or Tex A Mexico 5s 8 70S 1 70 1 70 S X Cfl 8'J. 3 77 N' Y Ct'l 4a 3 RO',1 J i6 N" Y Cent' I Ba 2 90S 103 108 108 10.1 108 103 IDS Cerit'l 7s .. ion .. ten .. 100 li... 103 N Y Edls-n CO e-a rctf 1.... 100 6..., 100 B.... IDS New Y Lack A west'n 4a 2,.... 98 2 OSS N Yk Lttht II ft Pwr Sa a. 1... 00 N Tt S H I Hart'd 6s IV.... au N Yk Rlys 4s 10...,. 41 a 41 V Tele 4s 1..... 04 .V Yerk State wye 4a 1 65 N Y Tele's '41 1..,. 103 0.... 105 1...: 103 8.... 104 V Yk W C ft Bj.t 4s 5 87 10. v.. . 67 l.i... 07 I B7U Nefk'S'n R 5 1 87 .V ft V cv 6. 1.... 108 4.... 108 4.... ins- 4.... 10814 N' A Edla'n Ce OS rets 2 02 1 02 3 02 6 02S N Ohie Trae A Llcht Oa 6 07 2 07 0 07 4 07 N'eith Western Bell Tel 7a 1.... 100 1.... 108(4 6(sale) 100 8.... 100 2.... 100 1.... 108 '4 N Pacific R 3. 8 62 N Pacific R 4 1 87 1 87 N Pacific R A. 1 103 1.... 103S Ore ft Calif 3 00 44 09 Oregon S L 4a 1 01 Ore-W R R Ce ft N Ce Ca - S.... 81 a...... 81 1 81 l...y 81 .'.... 81U una meel let 1.... 102'4 Pae a A H f l.i... 01( 10 01 0 011 Pae T ft T Si 8 07 Pac Tel A Tel Sa rcta 10 7(sale) 4 B...1. 1 S 1 Packard Moter Cac Ce Sa 2.... 107 KX.ale) 107 1.... 107 Pan A Petr'm A A Ce 7a C,... 101 10.... 101 P Rd tm 4a 1 01 2 00 2 00 1 01 Penna R R Si C 00 I'enna Jt OVii 0.,.. 109 S... 100 Penna RR "1 1.... 100 B.... 100 Pee Qaa Llcht Ceal Ba 3..... OOS Peoria A 11 In B 82 5 82 1 32 Pere Marqt Si 2 95(4 Phlla Cnty fd 3 07 Phlla Rita 4a 65 Pierce OH 8s 1.... 101S Pit Cln Chi A St L a 6s 1 07 Preduc A R 8s 1.... 103 Pub Serv c.urp N Jsy Ba 1 83S Reading Ce 4a 0 83S St L I Mt A S R A O dlv 4a 3..... 82 7ate 82 St L A S Ftaj 12 80 1 80 . St I. A S F In 7. ... AO B 69 St 1. A S Fran Serlea A 1 72 0 72 81 72 't - 2w i, 724 6..... 736 l...i. 72 4..W 72 8t.i. a M Fran am os, S.. ... 08 8t I. A H Kcan B wl .1..... vn St L Sew'n en ...... 00 Seab'd A L aJ It. 1... 28 10 28 Seb'd A Ii fd a...-,. 42 a.. J. 42 4..,.. 43 8. w.l 43 Seab'd AT L Oa 1 69 D OO h Steel H 1 80 1 09 Sinclair COU Cerp 7a. rets Si... 09 In... '99 18.. .. 09 IB...., 00 ...... 09 6(aale) 00 25 00 6 00 Sinclair C Oil Cerp 7 He 2.... 104 10.... 104 ,5.... .104 1.... 104 IB.... 104 Slnclaln Crude Oil P C na 80 00 ion Bell T 6a 1 04 Se'n Pacific fd 0 88 S'n Pac cv.4s 1 00 4 01 A 01 8...I. 01 3 91 Se'n Paclfle 81 1.... 103S' S P Term-1 4( 1 82 1 83 Wis Cent' I 4a 1 SOS Sn Railway 4s 1 7 1 07 Mn Rall'y OV.a fl 80 1 00 1 00 , 1..... 00 1 00 3 00 Stand'd OH or Calif 7a 1.... 105 1.... 103 104 i GOSSIP OF THE STREET Although titers wa quite, some !! terlfy of opinion, In stock market cir cles lest week n te' the outldekf prlces for most of the leading aMes exntrf enced aUbslnntlnl betterment andi tie volume of buying npr-red te ntTe emanated, from sources Which, are usually characterized as the , rlgM "rt." TBe .sttel Issues were mnuenccu largely by -the reperta rclntite te the incite.- w. mt iniu. imiiiuci ...-. . cnta.aad new iiuotetlona enha present advance werexestabiisiiw ey a " . 1... .111... 1.1. 11. .M...1.M. wn aiin. OI IBSUCB. OllllUUgll me -inivi. """ -"r ject te shocks,, as was Indicated n the snarp reaction in iiepuDiie im nuu Hteefen Friday after the Issue had dis played unusual strength In, the early trading. " , . . BaluwIn'Locemotlve rcered n liberal rise andvrtest of-this 'xaa reaintalnea with' buying' orders being ''n the market lip te th close en Friday for cOnsid-' crabte amounts of the stock. It was said that some 'of thla absorption ema nated from Philadelphia, although w re houses with Western connections also figured In the turnover that was re; corded net only en Friday, but en nil nil increus'qther days during the week, j Dig Menth ter Automobile Trade According te figures published, May will be the largest month In the history of the automobile trade, ltoe Moter en the Curb advanced sharply te nDeve u, and It was saldthat some of the buying orders en Friday came from Western sources. Daniels 'Moter common en the Curb v.as. another strong Issue main taining" ila recent gains In an. impres sive manner. In. the face of the present outlook in the meter trade, it is leit that the meter stocks are likely te be among the leaders of the future. Chandler Moter' directors meet ler action en the dividend en .Tune 10, and it Is expected that the company will declare the" usual $1.50 n shnre. This company shipped mere enrs in the first four months of 1022 than during the whole year of 1021. Maxwell Moter Is new doing n volume business, nnd it is reported in financial circles the pre ferred "A" shares will shortly resume dividend payments. Mere New Bena Issues Coming According "te "some of the lending XVI IIJUIIIIbUI" ILLV fill .b,. nMnlJImi til r.ti . Iill I ' IH UNEMPL0YN1ENT freident Pays Tribute te the Conference for Services in ' . Winter's Crisis NOTES BIG IMPROVEMENT 04 04 04 04 04 04 04 IS. 10. 1.. n.. T.. 10.. 10.. 10.. 8.. 01 st 1 01 01 WIS 01 81 01 Washington. May 20. President Tfarrltnr Iina crnr.ci1 gratitude ta the ("National 'Unemployment, Conference for Its services In the crisis Inst, i Inter In n letter te Secretory Hoever made pub lic last night et the Commerce Depart ment. ' 'Members of the conference, the Presi dent declared, deserved great credit' Ter their siicccis In mitigating n situation which might hnve caused great suffer ing.' He expressed particular appreci ation of the efforts of Secretory Dnvls nnd Colonel Arthur Weeds, who' hns had charge of .the work planned by the conference. i ... "Vew that thn revival of emiilev ment through the country except for l.l . kII.k.. !.... ... mmkm.Im InihMt n.l inc uirmrrB -nu -v a,iirt.i. ..n. ....... our situation that our anxieties In thN particular arc largely removed." the letter te Mr. Hoever said. "I wWi te extend mv itrntitude' te every one of the great body of our citizens who gave such efficient service In the organiza tions set up and co-erdinated under the unemployment conference of last autumn.'- , "The conference members mm Iti Stnndlng Committees deserve great credit for the successful inniigurntlen and stimulation of the grcnt simul taneous movement In the cemmunltv, nnd Its continuing organization, which has se greatly succeeded In the inlti inlti natien of what otherwise would have been great suffering. "We have pnssed the winter of the greatest unemplejment In the history of our country. Through the fine o e ordination nnd co-operation nmene Federal and Htntc officials. Mayers anil ALLIESISSUE INVITATIONS . FOR THE HAGUE PARLEY France Urged te Watch U. 8. Pelluy Before Accepting The Hague, .May -ii). Invitation- have been Issued rby the presidents of the Genea conference In agreement wltii the Dutch Government for the coming pnrlcys nt The Hague. It U Intended I hat two commissions shall meet here June 211, one te comprise experts fiem the states represented at Oenen, excluding Russia nnd Germany, and the ether commission te consist only of Russian economists. ...,.,, A preliminary meeting will be held en. June 10, and will b attended by net mere thnn two delegates from nil states represented nt Genea except Gcrmnny iind Hussln. J ' High-Speed Steel Cot. Merge Aonwmtewii, Ohie, May20--An ixtrirment In merge haa, b-en reached bv official! nf the Electric Alley Hteel Company, of Youngalewn. Rnd the Allan (Tuclbl- Rlecl Company, of Dunkirk. N .. and will Im auhmltted te the bearda of director- nf th cempanlea, thla veck. It was enneunced hre tnda1 by t. .1. Campbell, president of the Electric Alle. and A II. Hunter, preildent of th Atlas company. The new corporation will have the "cend laraeet production of hlah-siwed ateel In the 'coun try. Each concern hna about 12 000 OOD of common' sleck mid the two together hae about $5 000,000 preferred Meck Tim Electric Alley Company has a .V,Vnt ,?1 Charlerel. Pa., and e. alte near Mica, ".. en which n plant Is te be bul t en Tlij Atlna uruciDie wrapunv """. i''' Dunkirk. N. Y.. nnd at Welland. Ont. LOWER ITtr.lnT RATES! Te gain en accurate eetlmate if the effei , t of the frelaht-rnte reduction, effectlie July 1. read comment! by Hplllane rnd M ana In rtie llualneaa Section of llie morning I'tnuu LnrMira. These trained analista of com mercial prebletna keep cleae taba en cery Imnerlant happening In hualneaa "Make It C S. PATTON A CO an tiiWTNtTMisi. BANKERS lanla and teks haijsht end Mesabera Phlla. Bteek Ktehaase. WIEilEI,RElW!J. SteckweD ' camm hmjc WiUcn &t ' m Linvill ,tjrfiiW.fc -........ . . . Lertibeci rub ic Acceununw -'? OrexeJ Bwkling. Phifelebia ,. ,....!, I. .11.. .... 1111.11. ...Il..i.,i .1 .HII.il...iMI.':.IIW1all v interest Identified' with the bend trade. t,cr committees of employers, relief the market .has Been given unmneni organizations nnd citizens, we nnve FOR SALE . -. 100 DANIELS MOTOR Pfd. At 91 CHATER & EDEY 35 Wall S N. Y. Tel. Hanover 8154 bsHtaaikSjj-t-lMSHrllBatkL?! Baavar Bridae - P. ft L E.R.R srrn nmumtmi0iet ttrnKunnfrnmuu te When you specify McClintic-Mnrshall steel structures, you are specifying the very best in steel construction. McCIintic-Marshall Company General nfflcesi Pllltburgli, Pa. Philadelphia: Merris Uldi. New Yerk Chicago San Francisce Mlmtic-Marshall SteelBridges 4 Buildings Read this week's isme "Invester & Traded for the latest news en' New Yerk Curb stocks that are leaders in the present market activity. Presents briefly : -chief points of market and its trend -market authorities quoted -early developments that may affect prices -active stocks treated -charts, illustrations and tabulations en companies -dividend statistics -"high" and "low" price range from January 1920 te date Copy given en request Call 'phone write today Jenes & Baker .If embcja -Vete Veifc Curb Exch. tihr. m vf "m Direct Private Wlrea htw Yolk Chleiee Bnten Philadelphia rniibur(b Detroit Baltimore Clevflind PHILADELPHIA OFFICE Widener Building x.l.l,. Bu Intuit 4730 Telephones Keyene . R,ce 586l BALTIMORE OFFICE 433 Equitable Building Telephone Pla:aS451 iiiiiiiiiitiinniiimiiiiiiniiiiiitiiiiiiiti'iiiiiiiMiiHiitiiimiii breathing 'spell te permit m6rc general distribution or securities encreu m ic m.nf rM.li. with the result tluit the Third Ave ajj.(icinnnd nt the. close of last neck wnj greater thnn for some time past nnu the, technical position of the market was' much stronger. During the present week there prob preb nblv will be nt least two, nnd pessib y ttircc, new offerings efr foreign securi ties, while there also arc n nuniDcr i corporate Issues about te be put out, the indications being" thnt there will be nt lenst two or -three times as many hnmta nflWcil diirlns ' the next six or Vjecn days thnn during the Inst week. Purchasing Power Unchanged The purchasing power of farm crops for, Anrll was jinchnngcd ns compared vlth March, while' the prices of crops and livestock at the farm Improved slightly from March IB te April 15. ac cording te the Department of Agri culture. The unchanged condition was Attributed te a corresponding incicasc In the wholesale price of nil commed' Hies, excluding farm products nnd feed. The index number representing the farm prise of crejj s from March 15 te April 15 wbb llJL as compared with 112 for the preceding month, and with a low of 07 In December. The form price of livestock was 115 ns compared with 117 the preceding month, nnd with a low of 01" In December. The index number for crops nnd livestock com bined was 115 ns compared with 114 the preceding month, and with a low et 114 in December. The nurchaslne power of thehc products, as related te the wholesale price et an commodities, pxrluAlnc farm ureducts and feed, w'ns '67 en April 15, ns compared with 07 en March 15, and with the highest point since the beginning of 1021. Smeltlng's Family Squabble ' The financial district gave consider able attention te the fight that is te be made nt the annual meeting of the American Smelting and Refining Cem pany. It appears tbut proxies are being solicited by three different Interests, one representing the present manage ment, another representing the stock holders' committee, which recently Is sued its icpert criticizing the manage ment, nnd still another representing Karl Kllcrs, deposed Ice president of the company, who mndc. the original fight a cnr age and was responsible for the Investigation into the company affairs. ' Utah and Kennecett Dividends Reports arc heard of the possibility of nn Increase in the dividend by the Utah Copper Company, ns well .as the re sumption of distributions by the Kenne cett Copper Corporations. Seme per sons who are close te the manngements of these companies insist that there, is net likely te be a change in the Utah dividend at the next meeting of the beard early next month, and add that Kcnnccett's dhldend will net be re sumed in the near future. Tidewater Olr Ce ct 8U 6.... 102S Union Pae cv 3 04'4 2 044 8 04S D Tank C 7a 1.... 103S .. .. ma -, l.... lua'i Unt'd Drug Oa 1.... 110 Ofsale) 110 Union B P Ba 8.... 104S Uht'd Drug 8s 1.... 111S U S Rubb'r Bs 3 00 i no 1 00 U 3 Jief Mchy cemp'y 8s 1.,.. 100 8 100S 1.... 100'i U'd M Steel 5s 7.... 101 S 3.... 101S 12.... 101 3.... IMS 3.... 101S 4.... 101 S 1.... 101 8.... 101 S Utah Nn Bs DOS Ut'h P 4V L fis 1 01 S V-C Ch 7a nl ens oes DO oes 00 00 00 oes 1.. 8.. 1.. 18.. 1.. 1.. 1.. Va-c Ch 7Sa 105', 11.. 10.. 1.. 15.. IB.. 22 2. 1.! B. IOV4 10.1 ions JOTS 105U 105U 105 105 105 S Va Rwy Ce Bs 1...7- 06 Wabaeh R 1st 20 07 S Warner Sugar Ref 7 1.... 100 West'n Md 4s 1 84 We'n Pac lata 8 87H V Union 6Ha 1 101114 Wcstinghs'e U Ufg 7a .... J07S 1.... "107S 1.... 108 8.... 107 Wilsen Ce 1st I 8W 9....' 08 2 lies 08' Ksale) OBS Wilsen C 7Se 3.... 10IS 5.... 10S B.... 104'. Ksale) 104S ceme through with much less .suffering thnn In previous years, when unem ployment was very much less. Se much has this been the ense that ex cept for the intensification of public works by the Federal, State and mu nicipal Governments, thederaand for aid te the uncmplejed from the Federnl treasury disappeared in the country. Only two or three of our larger cities failed te secure co-operation te the best advantage. ( "Fer this inspiration. organuntien and "co-ordination of the community, nnd for the forces making for common nitn. Ik. lltiAmntnim.nl rnnfprrtirc and its Standing Committees deserc great credit for n work quietly anu ffirtintlv enrrieil nut. "In this note of appreciation T wish fe include the Secretary of Laber and I Colonel Arthur Weeds, the director of the work." Orators Contest at Penn State State College, Pa.. May 29. The semi -centennial celebration of the Junier Oratericnls took place at the Pennsylvania State College Saturday night, and first honors were awarded te Geerge L. Kly. of .Tennnctte. whec subject was "The Read te National Hener." Honorable mention went te Miss Florence King, of Ilcthlehcm. "The New Sphere of Weman In Public Life" 8. 0... 104 104 Llbertv .Tjs . . , Liberty 1st 44 Liberty 2d 414s Liberty 3d 44h Liberty 4th 4i Vle Notes -104 s. 1 10 H'gh Lew p, rc, .100.00 no.ett no.eo . 00.00 00.00 00.00 . 00.88 00.84 00.88 . eti.nii 00.01 00.04 . 00.08 00.02 00.08 .100.02 100.00 100.00 LONDON 8TOCK MARKET te. cen'i f a ejat .vn niy 71 IV. .... VI. Ct! Leather B 4 07'i -,.... IIH B 07 4 n.1 Cl Faclnslal '2....1 87 C1110 da Pas'e Cep'r 8s ions 101S tens 100 s 2.... 100s 1.... 1001 O Bay W h 1 014 20 DU Helland Am'n Line (la ' B.A.. 02 8: O.'S Hud t Man rd 0 83S Hud 4b Man In 1., 24.. 20,, 0., 3.. 8-1 ess ASS 'A 03 03 S Ills Cfl 4s 'B8 2 81 1 81 S. Cla Cnt'l 3'is List Net Particularly Active Gilt Edged Investments Easier Iionden, May 20. The" securities market was net particularly active to day, owing te the fact t ha t operators are new engaged with the-first fort nightly settlement slnce 1014. The tone for the most part was stendj . 'Gilt-edged investments were 11 shade easier within a narrow range en sell ing te realize profits. Heme mils hud a firm appearance, resuming the up ward movement. Dellar securities were nly moderate!.! nctiin without appreci able changes in quotations. Argentine rails meed irregularly within u very narrow range The mere reassuring turn in the international pellrul sit uation was responsible for a firmer pet sltlen in French lenns, Itusiness in kaffirs was en a mod med mod erute scale, awing te the settlement restrictions. Oils displaced "n ,.,rer. fill tone in spots but without brisk ness. Shell Transport was 5iM, Rojal Dutch 42, .and Mexican Eagle ii., 'Rubber descriptions were ajeft. hut without any Important change' Hud Hud eon's Bay, KM A. Industrials, en u moderate volume of builiics.-, ejhlblted, aarj aaywi ii " ,ln na,,tn ion Baaflkau:ui''l Oil Ta ,107, 107 1 xffMf'lanVBSa ..... 20 20 mtisraiB mswi Newberger, Hendersen & Leeb The experience of the last few weeks clearly shows the futility of attempting te find measurements of the current market en the standards of precedents. These long-established nnu accepted guide guide pests hn've proved equally obsolete In the existing constructive movement as they nrc in the prolonged liquidating market of 1020 nnd 1021. There arc present, nevertheless, distinct. smp smp tenis of a lessening of speculative en ergy en the pnrt of the influential in terests en 'the one hand, and en 'the ether n shifting of bullish operation te a, clnss of stocks, the leadership of which is net ImpressUe. Increasing irregu larity and conflicting price ineement observed in the last fortnight may like wise be accepted as a fairly accurate indication of a temporary culmination of the major market swing. The grow ing congestion In lean accounts and the Intermitting spells of indigestion re flect an existing, top-heavy Icing posi tion which ':aeK the market mere or lew vulnerable In the event of some unfnernble development. There la nothing U sight, in our opinion. 'te In vite bearish sentiment. et we feel re actions from new en will be frequent nnd grew shnrirtr ns the level rises, and therefore ndvnntuge should be taken of all bulges te realize profits. "Vest & Ce. The technical position of the market is undoubtedly weak,' for most accounts are heavily long and scarcely"' auy short Interest exists. If would, therefore, .secrn te be the pnrt of wisdom te keep accounts in geed shape, ns the weaker position et the market will be less able te withstand the shock" of nny bad news. II, V. Badimait & Ce. "It will be well Je .watch developments nt the present international bankers' confer ence newvln session In Paris, The con summation of a lean te Germany en abling, them te buy ( raw materials In American iflnrkcts would naturally be reflected In the present 'cotton situation and, would nlka go far In bridging eco nomic problems In thnt country. "We nrcstlll convinced that ntlucr ence te a censeaTyntlvcly bullish nttltude In cotton uffnlrsduilng the, immediate future, will prove a profitable position, as evidence, cumulates almost dnlly tending te confirm belief in only u mod med erateK'M bf.hfy possible this season," ERIE LIGHTING PREFERENCE SHARES The Erie Lighting Company supplies electricity for light and power in the City of Erie, Pennsylvania, one of our great manufacturing centers and a growing field for new business. This progressive Company, serving a population of about 124,000, has an enviable record for conservative management and consistently increasing earnings. Frem 1915 te 1921 the net income increased almost four and one-half times. ORDERS MAY BE EXECUTED ON THE PHILADELPHIA STOCK EXCHANGE AT MARKET TO YIELD ABOUT SEVEN AND ONE-HALF PER CENT We recommend this stock for investment Edward B.Smith & Ce 1411 Chestnut St., Philadelphia, Pa. "HI1 New Issue $1,380,000 Southern Oklahoma Power Company First and Refunding Mortgage 7 Geld Bends SERIES "A Dated June 1, 1922 Due June 1, 1942 Interest payable June 1 and December 1 at the Central Trust Company of Illinois, Chicago, Trustee, or at the First National Bank in New Yerk, without deduction for Nermal Federal Income Tax upje 2. Coupon Bends registrable as te Principal. Denominations, $1,000, $500 and $100. Redeemiblc as whole or in part at the option of the Company en 30 days' published notice, en anv interest payment d ite prier te and including Dec. 1, 1934, at 107, less tf of 1 annually from June 1, 1923, and at 101 thereafter. Pennsylvania Tax of Four Mills Refunded Central Trust Company of Illinois, Chicago. Trustee We summarize from titer of Mr. Wm. A. Baehr, President of the Company, as fellows : The Southern Oklahoma Power Company owns a modern power plant and sells the entire out put thereof te itssubsiuiariesthcOklahema Light and Power Company and the Shawnee Gas and Klectric Company. All of the stock of the two last named companies (excepting Directors' qualifying shares) is owned by the Southern Oklahoma Power Company. Consolidated Earnings Statement (As officially furnished by the Compan for c.ir ended April 30, 1922) Gress Earnings $ 1 ,066,430.0 1 Net Earnings 266,014.67 Annual Interest Total Bended Debt.. 121,625.00 .Yif Earnings ecer Tit ice Annual lnltrt:t Requirement Security: These bends are secured by a joint mortgage, which, in the opinion of counsel, is a first mortgage en the plants and properties of the Southern Oklahoma Power Company, and the Oklahoma Light and Power Company, and a first lien upon the plants and properties ef'the Sliawnec GasandElectricCompanyjSubjectenlytoJSOOjSOO underlying 5 bends due July 1, 1926, for the retirement of which a likeameunt of these bends arc held in escrow. Appraisals of Messrs. Sander son & Perter, Engineers, Chicago, show the depre ciated reproduction value of the properties under this mortgage without any allowance for going value or ether intangibles te.be $2,543,945, which shows a substantial equity ever and above the total bended debt. Upen the cancellation of the underh ing bends en the Shawnee properties ar or prier te maturity in 1926, these l-'irst and Refund ing Mortgage bends will become a First Mortgage. The entire capital stock of the Shawnee Gas and Flcctric Company and the Oklahoma Light and Power Company (excepting Directors' qualifying shares) is pledged under this mortgage. Maintenance and Sinking Funds: Under the retms of the Trust Indenture the Company is required annually te credit Maintenance and Renewal Reserve with 8C'0 of the gross earnings of all the Companies, which may be used m retiring its first mortgage bends at'net te exceed the cafi price, or in maintaining and renewing its properties or making permanent extensions and additions which shall net form the basis of the issuance of escrow bends. The Company also covenants and agrees that, beginning September 1, 1924, it will make annual deposits In a Sinking Fund with the Trustee, in amounts as follews: 1924 te 1928, 1; 1929 te 1933, V4; 1934 te 1941, both inclusive, 2 of the total amount of bends under Scries "A" out standing, including any underlying bends. The Sinking Fund moneys are te be used by the Company for the retirement of bends of this issue at. net te exceed the call price, or te reimburse the Company for expenditures made by it for perma nent extensions, enlargements and additions, against -which no bends can be issued. Price Par and Interest te Yield 7 Descriptive circular mailed en application Powell, Garard & Ce. Investment Securities Cerner 4th and Chestnut Streets, Philadelphia Chicago Btatl.llts ami information eicn aUf w'.ui,, nn BUurm.teeJ -arc believed b m te be accuse M S i i ;3 v 9 'allBTTJKR., aaBBBB'Ufr.-ri?TvsaAi. , MSB vv.i sssssasife & 1 1 jj.ii 11: rv. v. .-. ;.v n. . ,t . 1 . -.; v -. 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Significant historical Pennsylvania newspapers