WmW
pcenw
A..Wi
YAndri of New YerK Down
IT ....Kirbv Shades
TWO rim'"-
, silghtiy-Skelly Lewer
L- v4 June 8. The Curb mar
N!l.infj Irreu1r nfter the open-
lrt.hlntwt centered In oil shares.
M.?"J Tnrflnnii enened down
RSTl 115 New Yerk was down 2
i!Lete8. Arkanim Natural Gaa
fffflteM, while the "vot "vet
bW 1'w!?..'.i. "when Issued."
Hira frictlenrily te 44. Skelly
!
r
Wt...'
"i'
an .
fJWgeuth IP R Soe IBe
,SIS?2?xn " ft le
220OTurman .,,..,,,,. lU 1A
1000 li Ol ............ 170 l7e
MININQ
1S?AU,-Br. Ce1 4
1200 Am Kiplerat .... 3 2
8000 BlffLedf v 2(10 lSe
!SJ!L80,t ent Cen 810 880
1000 Italian Ment raina nin a.
attSSS'SSSV!.:::: "ft. 8i
!um tt'te KH
iuildO
'trust
" J r. nAtAiin wia (ran
ml and Bimms x :... -
tlMH7 '"'
v.rth Amei
"Y.." n-..l..l Autn rl1,livl 1 1
'S.??TBfr Rubber was firm, ecllini
Verth American Steel was down
iff" While Lincoln Meters Improved
, te 854.
up te 8.
nrecsTRiAivt
Hlfh , Lew
.a 1mm. nul .
'ISJlnvil 1-eather Pf. 40
wAnw.n'u -
ffiffibU? Kmrld. Me
'MJCuUn Dem Buwr. jiwi
RBSt llWra ...
ifiKyn Pictures .
ISulien Meters .. 22
Atlanta Fmlt ... 2jt
wSrthAmtr Bteel. i
Teb Pre w I.... BIS
lj2mSr Pffld A .... 81
iJJlnt Clser Mf ... 4
iletnler Rubber ..... Jtt
lift Lincoln Met A... fn
,iw.rcr Met V t e. 8
'jJStw Jersey Zlne.l
HI ftcUtt Moter ... 18
PhUle Merris . 10
Radie com J
BTvubtle Tire Rub Me
MSScsulte Stores .... MK
J5 Seuth Ceal Iren 680
1 Standard Met .... 4J4
1 Tobacco Pred .... 7tt
OTtliOfU Film ... 2
Muit n ateam 8e
H United Prof S new 7J4
pnuni w
IMWhltA, Reck 7
! STANDARD OILS
JIHAntle-Amer Oil... 24 14
ISO Atlantic Lobe II
Teftckerel' h S
16 Prarlrle O Q ...825
lOtterler Plpfl 280
I Smith P I. 04
i Oef Ky wl 102U
.nn:i
1P.M.
?
11
00 Certl Sllv.r
00 Crtuen Geld
olerei Eipra
ft
800 Deleral filDafinu.
1000 Kl Ralvader . 4n
8000 Eurika Creaiua . . 20e
flOUOaallna 280
4000 Oeld Zena lOe
lOOOHarmlll P lBe
8200 Indtpand Lad .... Die
200 Kerr Lake 8H
lOOOMeKIn Dar 25e
OOOOFertuna 21e
80O Matma Cep rta .. 1A
3000 Silver Hern 2e
1000 Mactna Chief .... 4e
100 Shelden , 1H
100 Mama Cei ..1... 2ett
neuv Marin mm . .
8000 Maaen Valley
1000 Mothnrlede C
1 BOO National Tin
iOOO Nevada Ophlr
000 Nev fill Hern
200 NtplialnK . . . .
1800 Ray Herculei
eoeo Res cena
r 7e.... vp
I, ':2...100H
co 7i ..mil
7a. '2S..1D3M
IIO.f Inrf
Sae of n f.
IWaehlniten
..440
.. 27
101V
It 41 J
OS
828
280
04
101 4
MP
27
INDCTEMIENT OTVB
OAtuan n;
tAII'ed Oil 3c
9Arkani aNt Oas. 12H 1
9 Beene en
J Boiten Wyoming-
eyna
MCarlb tradlnir ..
HMCarlbEr
lliCltlM Service
HtleaServ ctfa.. 23
Itunbla Pet 1 A
lembla Srnd .... 3
l Creele ernd a
KMEeflntira Pet .... 40c
lJMrederal Oil 1J4
lMirtnilaiid lhit
MOOIIIUand O'l 8H
MMOItnreek Oell ia
HMHudien Oil ....... Tin
TIM Int Petrel 2S
lOOKeyitene Ranctr.. 00e
IMKIrby Pet 7H
IMOUncs 4c?
lmilralean Saab ctfs. 44U
IMPann M oetl
IllMOLyeni Pet 100
tiNLreni rtl 1,00
wu marine 1 A
garland Mex 8"
Iftrtdan Pet a.
I.MOHerrltt Oil 124
SMOHnlean 6eab .... 4HU
"OMW Columbia .... 4C
tBiiilBlPB
.T-"'" ." rut .... RU Kl' m..
lOBKOHeOll Sin 81- .?
MOOOmarOl . "!?, 3c
JWPennoek Oil ...... C IfJ JA
mum n..4. -I1 0'a (lit
, aae 28e 28fl.
44'i
38
4'i
m
'
480
820
lOe
oft
lOe
1000 surer Dale 48c
anne ntuwart Mln .... 8a
1400 Tonopah Divide . . 780
8100 Tuolumne 78;
20O Unity Geld 8
2300 United Eaet . . .. V
100 unuea veras . . v
100O Volcano 470
lOOWeit End C .... I ft
BONDS
10000 Am Cot OH 6i.. Mft
BOOOAm U T 8i TVW.lOOVt
2000 Allied Fkra SB.... P7
10000 Am Pewar 7.... ve
loon Am Tal 6a.
neon Am Tobacco
IMVl inarflnitft Ta.
eann irmmtf A- f!e 7a.. 104
2000 Atl O W.I Bf.. 68 68
78O0OBeth Bteel 7. M.?4 104
BOOOBeth Bteel 7f. 'B8.I02 1024
8000 Can Nat R Eq 7i.l09 109
8000 Cent Bteel 8a.... 104)4 104U
BOOOCena Oat Batte 6a. 9 99VS
BOOOCena Oaa Balte 7a.l05tt JOJtt
BOOOCena TaztlU. ..100 100
2000 Coceer Exd 8e.'25.104 104
18000 Freeport Tex 7H.0.1B4 181
7000 Goedrich Tire 7a. 100 100
29000 Gulf Oil 7a ......104 103
6000 Heed Rubber 7a.. 8i 98
9100 Int at Ner 8 68H 6M4
48000 Inter R T Ss.... 90 90
2000Kanaaa Qaa 61 .... 96)t OOH
IOOO Kennecett C 7e..l04H 104
700OKItur Ce U.6WB. OT OBJ
OOOOLacTede Qaa Ta...,100tt 100H
1000 Lltiett WW 8..Ip4i 100
1000 Magma. Cep, 7a.. 108 108tt
2000 Nat Aetna 7M".... OVA 974
80O0 N Y N H ft H 4a. 98 98
8000 NTNHtHTl. .87 87
BOOOPhlla EUe 0a....leaj4 108H
BOOOPub Serv N J 7a..l01J4 101
8000 Robt dalr 7 .... 08 98
DOOOSaks Ce 7a .... 98 084
2000 Seara-Sbk 7a '23.101 101
17000 Beuthweat Bell 7I.102H 102H
1000 B O N T 7a. 25.. 108 108
1000 8 O N T 7a. 26.. JOSH lJBi
aOOOS O N Y 7. '29..107)4 107H
8000 Etewart War 8. .110 11J
2000-Bwlft Ce 71. '23.101 101
10000 Hwlft Ce 7a. '31.103U 102 A
2000Texaa Ce 7a 101H 101'A
1000 Union Oil Cel 8a.. 101., 101
7000 Western Eleq 7a..l07i 1074
2000 Wlncheater 7Ha ..100,, 10O
10000 Atl Fruit Ce 81 Ine 48W 48Vi
7000 Bklv Union Oas 7alll, 111,,
23000 Clncln Oaa 8H.. BHVs 98
FOBEION BONDS
14000 Ara-entlne 7a ....100 90 Tt
10000 Can B 8 Ce 7 110 , CO.,
40000 Cltv Elberfeld Ba. nli B4
4000 City Solasena 6.. fii'l 88 H
8000 City Montevideo 7s. 07 97.
B00O0 NT N H ft 11 Ta Fr 71J4 7lH
18000 Bwtas fi'Aa 101 101H
1OO0O U B Braxll 744s... 88 86
1BPO0OU S Mex 4s 41 88
BOOOMex Gevt 6s 18 18
"SAN DIEGO GREETS DENBY
Secretary of Navy te Spend Twe
Daya In California
Sen Diexe, Calif., June 8. (By A.
P.) Secretary Denbr, of the Navy De
partment, became the honor truest of
San Diege early today when the trans
port Hendersen dropped anchor here
after a run up the coast, en route with
the Secretary and members of the An
napolis cjass of 1831 te a class reunion
In Japan.
The party will spend today and to
morrow here and will sail at 6 o'clock
tomorrow evening for the Orient.
dCU
w.giVTii;-'i -'V'iiVa,l
v
WfT
m Ana al briefs
.as
us
100
'Ik
100
104
99
108
100
104
181
100
104
98
68
00
06U
104
99
100
100
108
97
9B
87
103
101
98
98
101
102
108
108
107
0
101
102
101
101
107
100,
i!?
08
90
8..
r The Bank of England's minimum dis
count rate remains unchanged at 4 per
cent.
Reginald B. Heard, of Tenkers, N.
Y., has been admitted as general part
ner In the firm of Edward B. Smith &
Ce.
The Seaboard Air Line Railway's
1021 report shows a net deficit of $224,
200 after taxes and charges. In contrast
te a net Income of $231,000 in 1021.
Consolidated Oas Company announces
it win redeem en (September 1 all of Its
five-year secured 7 per cent convertible
bends outstanding at that date at 102.
The -Commonwealth Power Railway
and Light Company will pay and re
deem en July 1 at 101 and Interest
all its outstanding 7 per cent secured
convertible geld bends, due en May 1,
1023.
Ceal output of Great Britain for the
wecK ended May ct was 4,uzu,uuu tens,
which is 4 per cent less than for the
previous wecK and 8 per cent less than
recent record production for the year el
mere tban r,iuu,ueu tens.
The nverage price of the twenty
active industrials declined .44 per cent
yesterday te 05.1(5, making an average
net decline of 1.21 per cent since lal
Saturday. The twenty rails declined
.RO per rent te 84.48 and which is 1.3T.
per cent dccline since Memerial Day.
Interests Identified with Columbian
Carben Company and Atlas Powder
Company have formed a new corpora
tion te be known as the International
Carben Corporation, with $2,600,000
8 per cent preferred stock and 800,000
shares of no par value common stock.
The Virginia and Western Railroad
applied te the Interstate Commerce
Commission for authority "te Issue and
sell $1,500,000 of Its 6 per cent bends,
and the Virginia Railway, which owns
the Virginia and Western, asked au
thority te guarantee payment of the
issue's Interest and principal.
By the purchase of slightly ever
2,000,000 shares of a total capitaliza
tion of 2,600.000 shares of $1 par
value, the Pure Oil Company, through
its subsidiary, the Oklahoma Producing
and Refining Company, has acquired
the controlling Interest in the Okla
homa Central Oil Company.
Chicago, Burlington and Qulncy
KQiiread reports 146,421 cars handled
during the month of May. against 126,
8155 for the same month last year;
101,001 were leaded en system, com
pared with 02,001 and 44,480 received
from connections, against 34,764. All
commodities showed n geed Increase
except coal.
A payments $502,467 te the Minne
apelis, Ht. raul and Sault Ste. Marie
uaureaci was autherised by the Inter
state Commerce Commission in final set
tlement of accounts between the Gov
ernment and the corporation arising out
of the guarantee against losses in rail
road operations In six months of 1020.
The read has received $5,127,267 under
the suarnntcp.
Reports Issued by the car service di
vision of the American Railway As
sociation show thnt loadings of reve
nue freight for the week ended May 27
totaled 821,121 cars, compared with
02,450 cars the previous week, or an
Increase .of 28,662 cars. This was also
an increase of 25,786 cars ever the cor
responding week last year, but a de
crease of 77,048 compared with the same
week two years age.
AH this talk about n railroad strike
i5 newspaper talk," in the epinl6n of
Frederick D. Underwood, president of
the Erie Railreadr "I don't believe
there will be a strike, because I don't
believe that the men have lest their
senses," he declared. "They must see
that In all branches of industry there
have been recessions. Of course, it is
net pleasant te have incomes, salaries
or wages lessened, but this distressing
process has been general."
The railroads of the United States
in Anril had a net nnpmtlne. imnmn .f
$50,256,800 which, en an annual basis,.
iriireaeiueu a return 01 tf.Utf per Cent
en valuation, according te complete re
ports filed with the Interstate Com
merce Commission. In A)rj 1021,
ItheWealiMlacnaW
f.TJ.fcVHJ.wu, or at rue annual rate 01
return of 2.88 per cent, while In March
this year it was $83,511,400, or 5.83
per cent.
In May, Nlplsslng Mines Company,
Limited, mined ere of estimated pet
value of $107,715. It shipped 850,000
fine ounces of silver of an estimated
value of $250,750. Value of the month's
sliver nrotliietlen was 72 rents an ounce.
Amount of cobalt produced was. 34,678
pounds'; .
Durham Hosiery Mills andafflliated
companies report for year ended De
cember 81, net deficit $1,742,203 after
deducting all known losses, shrinking
In inventory value, etc., and for three
months ended December 81, 1020, net
deficit $06,060, making net deficit for
fifteen months $1,800,160.
An issue of $13,000,000 State of
Michigan 4 per cent and 4 per cent
bends, issued for the payment of bo
nuses te soldiers and for highway con
struction, will be offered today. Of
the issue, $5,000,000 are soldiers'
bonus 4 per cent bends, dated July 1,
1022, and due July 1, 1032, offered
at 08. te yield ever 4.15 per cent,
and $8,000,000 are highway Improve
ment 4V4 per cent bends dated July 1,
1022, and due July 1, 1042, offered at
104 te yield mere than 4.20 per cent.
Refined 8ucar Moved, Up te 8 Cents
. y J"?rt, Jun 8. Ths raw auaar mar
ket Is fairly actlve and atrena- with Cuba
for June ahlpmant quoted , at 3 te 8
centa, coat and frelxht, and' for July anl)
ment at 2)1 cents te 3 cents, cost and
freight. Perte Rlces ara quoted, nominal,
at 4 cents, c. I. f. Salea yesterday In
cluded two carcecs. comprising 76,000 bags
Perte nices for shipment second half of
June without rert option at 4.00c. equal te
about 2.90c. coat and freight, for Cuban,
the Arcrrlcan Butar Refining Company being
the buyer. Canadian reflnera purchased 80OO
tens Cubes for June leading at 2.78 cents.
l e. .b. and a New Orleana refiner pur
chased IB.000 bags Culms for July clear
ance at 2 cents, cost and freight. It
Is reported limited amount of Cubes for
June leading sold at 2.80 centa, f. e. b..
said te be for European account. The
local refined market Is somewhat mera ac
tive, a hotter domeatle demand being In
evidence. The exoert demand continued
feed. Several local reflnera today advanced
hair prices 10 te 20 points te 6 cents
ess ii per com rer caan. 'ine Warner
Buaar Reflnlna Cemnanr moved ud 20 nelnta.
te 6 ranta. The Pennsylvania Bugar Rn-
iiniuar uempBny Kuvnraa ua price v peima
te that level and the American Sugar
Refining Company advanced te 6 cents, as
well aa the National Sugar Raflnlna- Cem
pany, which withdrew. ArbUckle Brethers,
In announcing their new prices for refined
sugars say: "Advance alt grades hard baals
0 UPC, soils rrma'rung uncnangea oasis e.tuc.
Thla will give you an opportunity te placs
soft sugars with your trade between new
and next Monday when we expect te ad
vance aefta te a basts of 6.85c W sug
gest that you five theaa soft sugars your
beat attention."
Jf .,'
mmjmmmm
jry-j v-'MFT'l
ew.eiamsee.
BANKERS ,
321 Chestnut St., Philadelphia
Established 1837
Members New Yerk and Philadelphia
Stock Exchanges
First Investment Fund
Series "B'
la New Open for Subscription
INVESTMENT REGISTRY OF
AMERICA, lac.
608 Chestnut Street
Phila. National
Bank
MORLEY, WOOD & CO.
333 Chestnut Street
Members N. Y. Phlla. Stock Rich's.
a.
a
$3,250,000
State-Randelph Building Corporation
(Masonic Temple, Chicago) ;Rp
t ,.. F"t (closed) Mortgage 6V2 Geld Bends '"
Dated May, 1922 Due May 1. 1937
iwlATuWIO iJiJ1! "'1 N?rml,er ' ?y.M,e CK" nl New Yerk. Coupon bend, in
nanvn -n ?n-.-.l J . ' ' .P. $j .reterel aa te principal only. Redeemable at the option of the com-
after Tt 103 50 InJ ., T"e "? '? ?'." ,atJ!,05and accrued int""t UP nd including IvTay 1. 1927. thw
alter at 103.50 and accrued interest up te and including May I, 1932. and thereafter at 102 and accrued interest.
Interest payable without deduction of Nermal Federal Income Tax net in excess of two per cent.
Application Ha. Been Made te List The Bend en the Chicago Stock Exchange
UNION TRUST COMPANY. CHICAGO, TRUSTEE
C
SECURITY: These bends will be secured by an
absolute closed first mortgage en the land, owned
in fee, and the building formerly known as the
Masonic Temple, Chicago. The site extends 1 69
feet 1 inch along State Street and 1 1 3 feet 4
inches en Randelph Street; a total area of
19,175.94 square feet, one of the most valuable
fees in the downtown "loop" district.
BUILDING: The building, one of the best
known edifices in the United States, is twenty-one
stories in height. It is of steel, tile and brick fire
proof construction. There is a net rentable area
of 243,150 square feet throughout, the building
and this will be increased by at least 60,000
square feet through the contemplated improve
ments, giving a total net rentable area of 303, 1 50
square feet.
IMPROVEMENTS: The trust indenture secur
ing these bends contains a cenvenant whereby the
company has guaranteed by secured contracts te
make improvements te the building involving an
Expenditure of net less than $ 1 ,000,000, for which
no additional bends may be issued. In the event
that a leas-sum is expended, thte difference shall be
applied te retire bends of this issue.
VALUES: The fair market value of the land
owned in fee has been appraised by experts at
$4,299,412, which, together with the value of the
building, with improvements (which has been
appraised at $2,874,120) makes a total of
$7,173,532, or 220 of the total outstanding
bends of this issue.
SINKING FUND: Beginning May 1, 1925, the
following sums shall be set aside by the company
and used for the purchase of bends of this issue
in the open market, or for the redemption of
bends by let.
$100,000 en May 1, 1925
106,800 en Ma 1, 1926
113,000 en May 1, 1927
119,800 en May 1, 1928
126,000 en May 1, 1929
idZ,GUU en May 1, 1930
$139,000 en May 1, 1931
145,500 en May 1, 1932
152,000 en May 1, 1933
158,500 en May 1, 1934
165,000 en May 1, 1935
171.(1(1(1 nn M. 1 tOIC
"A 1 M. -'-- "' " ""
"ii or i,oe,ouu
Bends se purchased or called for redemption
shall be deposited with the trustee and cancelled.
RENTALS: Based upon present active leases,
as estimated by independent experts, the building
will produce upon completion of improvements
an annual rental of ever $900,000, and net in
come after all expenses of ever $600,000.
PRICE 100 WITH ACCRUED INTEREST
Delivery if, when and as issued and received by us.
u
r
Hoagland, Allum & Ce.
Incorporated
New Yerk Chicago
p- W. Chapman & Ce., Inc. Halsey, Stuart & Ce.
Nana VA aiLt ... , JNCORPORATED
wwrYerk Chicago New Yerk Philadelphia
hilng"th,eMbe,nd,h,reIn ,r net u,'ane1' bu wa-bellav. them te be accurate and reliable and have acted upon them (n pur.
WTWfSFVi
Eva,; vl. MliiiX.A.,iLJ.....,Mrmiwi. ijp
& i j
. V h . T
I'-.'IBV
"-" -r-T "V! '.. .'""5,"T"r'W3.",aELJ:il.L..i.kiLia
mmamimmtmmnaiaimmmfiiaimanmiaam
Ten Fifteen
Chestnut
Street Office
Building
,!
Jy
y.ti
IB
wm
&
'S
I
dtt
:,
la. I " -. re
' I
?
9 0
mini
JMl
n7Trrr.7
:-
U4
fiA
WW
rn
irtfllU!!
mm
rw
1
N
N
u m me
M
a
ah
fii i
ml' 1
Rfe
n
Pi a
n
w
Si;
BBaaJ II 1 I F
KCHlBi
hm
'J
Y-
MM.
Mm
E
j.wa
IIS?
w
t ,
V0
.-aw
mF,nL'ii m
&'
ac'j
New Issue
te Net
6V2
$1,600,000
Ten Fifteen Chestnut Street
Office Building
PHILADELPHIA, PA.
First Mortgage 6V2V0 Serial Coupon Bends
Safeguarded under the Straus Plan
4 Mill Pennsylvania Tax Paid en Behalf of Pennsylvania Bondholders
4 Federal Income Tax Paid
STRAUS PLAN AMORTIZATION
UNDER the covenants of the trust mortgage, the bends are paid off in yearly serial
instalments, the coupons being payable twice a year. In order te assure prompt
payment of both principal and interest in cash eh the days due, the trust mortgage
requires the borrowing corporation te make 180 approximately equal monthly pay
ments te S. W. Straus &. Ce., each monthly payment (except the first year) being
approximately $13,000. These compulsory payments automatically provide in act
vancea fund of $129,000 the first year and about $158,000 annually thereafter te
meet coupons and bends as they mature.
The fixed charges under the Straus mortgage and the method of meeting them by
monthly payments are set forth in the following table:
Serial
Payments
and Monthly
Payments:
Date
June 1. 1924
June 1, 1925
JUne 1, 1926
June 1, 1927
June 1, 1928
June 1, 1929
June 1, 1930
June 1, 1931
June 1, 1932
June 1, 1933
June 1, 1934
June 1, 1935
June 1, 1936
June 1, 1937
Principal
Payments
$25,000
56.500
60,000
64,000
68,000
72,500
77,000
82,000
87,500
93,000
99,000
105,500
112,500
120,000
1477,500
Average
Interest Total Yearly Payments
Payments Payments Monthly
$104,000.00 $129,000.00 $10,750.0
102,375.00 158,875.00 13,39.58
98,702.50 158.702.50 13,225.20
94,802.50 158,802.50 ' 13,233.54
90,642.50 158,642.50 13,220.20
86,222.50 158,722.50 13,226.87
81,510.00 158,510.00 13,209.00
76,505.00 158,505.00 13,208.75
71,175.00 158,675.00 13,222.91
65,487.50 158,487.50 13,207.29
59,442.50 158,442.50 13.203.54
53,007.50 158,507.50 13,208.95
46.150.00 158,650.00 13.220.83
38,837.50 158,837.50 13,236.45
477,500.00
Land dnd
Building:
Earnings:
Total . . . $1,600,000 $1,068,860.00 $2,668,860.00
($12O,00O Principal plus $38,837.50 Interest paid by 12 monthly payments, leaving balance
te be paid en June 1, 1937, $477,500.)
Denominatiens: $1,000 bends in all maturities; $500 bends in all maturities
except 1924; $100 bends 1937 maturities only.
SECURITY UNDER MORTGAGE
The bends are a direct, closed first mortgage en the land and building, and a first
lien en the net earnings, as follews:
AFIFTEEN-STORY office building of the most modern teel-framc, fireproof
construction, and land, located in the heart of Philadeli la's downtown busi
ness district, at 1015-19 Chestnut Street, west of Tenth StW The land fronts 69
teet en Chestnut, with a depth of 173 feet, running through t instead Street. The
buUdmg will be erected at once, and its completion, in accer ance with plans and
Aua0nHx?iclear 2( l Per"ens, is unconditional ly guaranteed te the
nuZ? S: X StfS & C;' IncorPerated. The property- is owned by the Ten
del Ma i t Corporation, composed of strong and -perienced Phila-
THE net annual earnings en which the bends are a first lien are conservatively
estimated at $208,474,. which is much mere than ample te meet the annual
principal and interest requirements of these bends.
WE have purchased these bends after careful investigation and recommend them
as a sate investment for sums of anv nmr,rf-
- ". j aes.v unit
Price: Par and accrued interest te net 6y2.
Call, Write or Phene for BOOKLET 662;L
S . W. STRAU S & CO.
ESTABLISHED l88a
H OFFICES IN FIFTEEN PRINCIPAL CITIES H INCORPORATED
STOCK EXCHANGE BUILDING, PHILADELPHIA, PA.
Telephone, Spruce 5628
40 YEARS WITHOUT LOSS TO ANY INVESTOR
FINANCING
IMJITT HAVING 'ntOReuciHiyr
TKAINED &ALEH OHOANJ!A,TION,
Ol'KttATINU ON J'HOVKN SOC
I'nHHI'UI. MKTHOP IN HANDUNJJ
NUOUHITIKS. MAY JIB OPKN TU
JIANlJkn NKV FINANCIAL ISSUE.
pivK fui.i. PAimctn.Ans of
VOim KNTEIU'ltlSl: IN 8TIUCT
CO.NFIPKNCK.
C 7M, LKOQKB OcTICK
BROOKE, STOKES & CO.
Investment
Securities
Philadelphia
Washington Daltimere
Metropolitan Edisen 6$, 1952
Sierre&San Francisce 2d 5i,1949
Fairmount Park Tram. 5i, 1937
Fabian F. Levy
Drexel Building
Jtell I'hunr. l.emliiril 14
Ueyaten. 1'heue. Main 8373
Before Investing
secure ths advice of Iheae evperlenee
In the selection of sound securities
yfm..?a.'.T our firy10 e nelviauala as4
Institution! with funds la Invest.
CenssrvaKv. margin
accounts nvtU.
McGUNN & CO. ;
Mimbtrt Ifne Ter m net: Ifxehamam
a
'
s
rtl
Lm
. rr
m?m
)i!UKs
rmm
i'ffiV-- t-:'i-llimiiyiA-i - ""! "i 1
i?j,,i
. iiwn.i bm "saiWIBBia
-- - -
'". if 1' '. UVA. LJwfwf