aMwMlfMliliairTgl 1 rsvwwa jxirx ,. mmuw." imm wwma.maMgsm M O O V R A I N G SI E R V I C E P R O T E C T V e u Hew About the Rating? When you are offered a bend or stock for investment, what should yeflr first question be? Should it be, "What does it yield in interest or dividends?" Ne. The most dangerous stocks and bends usually yield the largest dividend or inter est return, until they step yielding any thing at all. Your first and primary question should alwrfys be "Hew about the Rating?" If the Hating is satisfactory, then you can proceed with safety. r Investment Ratings en bends and stocks can only be secured through our Rating Boek Service, which is new being used y ever 20,000 pleased and satisfied and safely protected investors in all parts of this coun try and abroad. ' "Write us today and we will tell you all about it. ( f NEW YORK BONDS .r-r 'r& t8AL.ES IK ttOOO) Art RWe TaU'd Merlce neu tee 100 100 100 100 00 Moodys Investors Service 35 Nassau Street, New Yerk City S BOSTON 101 Milk St. PHILADELPHIA Real Ertatt Trurt Bldf. CHICAGO Vtnt NitUail B..V Bli. LOS ANGELES PmUm Ml BM. n 28.... i.... 28.... 1.... City Barn, hi l.... MIH 10..,. 111H 2.... Ill' City Uerd'a a 4 8 1 M City of Copen. haten SUa 2 em 1 Ol'A cuy Lyona a Mi City Mara' a u. 3 IBH Cty -Rie da Ja nerle 8a wl 1.... 101 ID.... 102 Cty Rie 4 Ja narle ga h 1.... 10IH I.ara Bf IS BO 10 6T 10.. .. 68 Am'n Afe a Cam TH" 4.... 10SU 6.... 10SH A 163 Amn fl A 6 02H Ama'n Sua- Da 10 0 Amarlcan But nr 8a I. 8. n. B. a... 108 10S'4 103 103 10S n. B.. 8.. 1.. 2.. 1.. 0.. 1.. 100 H 100H 10OK 100U 100 u 100U 181111 100 Am T A T clt ..-... 00 1 O0H 10 POi B 90 A Tel A Ttl Ba ELIZABETH & TRENTON R. R. CO. Cumulative Preferred Stock ' Fixed Dividends of $250 Per Annum Guaranteed Under Lease for 999 Years The Public Service Corporation of N. J. and the Public Service Railway Ce. jointly and severally guarantee the terms providing for these dividends. A non-callable, underlying, guaranteed, long term investment, free of the normal Income Tax. Price te Yield about 6.95 Details en Application CARSTAIRS & CO. Members New Yerk and Philadelphia Stock Exchanges 1419 Walnut St., Philadelphia Ceeho-Slevalc Re'e Sa wl 1 OTtt 2 0TU 4 0TU a etu' 10 1)7 4 07 8 07 Denmark Coe el B Sa i.... new Dept Bain 7a 0 02 8 02 B 02H 10 02 2 02 7(alc) 02 S 6 02Va D Canada 'SI 10 00 B OSTi De Can '62 w, B.... 100 0.... 100 211.... 100 10... 100 Dutch B Ind'a rcta '47 1 04U 3 04 U ..4... 04 H 0 HU 1 04 , uuicn e j na rcta "83 B 04 1 04H 8 04 b ea "(sale) 03 n.... 04 1 04U Qeve't France R 7a ret. 1. 1... 2... 1... 1... 1... ... 2... .100 100 100S 100 100 Vi 100 101 101H 1. 1. 0.. 1.. .. 1.. 28.. 1.. 1.. em 07H 07 07 07 07 97W OS .07U 1.... 101S Cloedyear T e Rub'r '41 1.... ll,i ONthn RBAa 1 PIH4 1...., 00 i at N'n Rly 7a I.... 100U i.... ioeu 1.... 100 O nay A W b S 12 4 12 8 12 'i 12 12 6 12 4 1211 Heck Val 4a 1 85V4 Helland-Am'n .Line fli 1 OOVi 1 00U Hud A Man fd 1 82 1 82'. Hud A Man In S 02 H tlla ct'l 4a 'M 8 83 Indl'a Btaal la 10 SOU tnt'e Mat 4 2 13 1 12 1 US 1 11 tnt M ct 4a A Tel A Tal 0 2.... 114 Am Wrap P Ua 8 80 Ant Jur Un'd Mar W 6a wl 2 00 '4 Armour 4 a 1 (flat) 90 4...., 00 Kflat) 00 1 00 0 00 V T A 8 Fe aj a as V T A 8 Fe 4a 1 88 2 ae 2 ae 1 80 Atl Ceaat b 4a 2 (Hat) 80 A Tranacentl'l S Llna 4a 1 88 Vtlantlc Refe ct Otte IB.... 108 8.... 103 B.... 103 0.... 103 1.... 108 3alt A Ohie cv 2 82 1 S3 B 82 3alt A O U ..4... 03 I O.I 1 83 VI Bait A Ohie 4a 1 80 2 80 Halt A Ohln Ai Are Your Ceal Mines making money today? Peabody - managed mines ' are. Let 119 show you why. Our service includes man aging, operating, selling. Experience 39 years. Hg&Bts GOAL COMPANY Fsumii l68j 332 Se. Michigan Ave. CHICAGO Opttating 3S Bituminous Minei in II Fitlituiith Annual Capacity eUt ,000,000 Tens Eastern Pennsylvania Railways Company STOCKHOLDERS' PROTECTIVE COMMITTEE CREATED I1Y DEPOSIT AGREEMENT DATED OCTOBER 1, 1021 NOTICE OF ADOPTION OF PLAN OF REFINANCING Netice la hereby ion th.it the undersigned stockholder.' Protective Committee, cre ate! by a I'reiectlie Aurecment. dated October 1. l-'l. J,.n. " S0m.m1"9, Jf tn Hut part. Commerclal Trust Company, of Philadelphia. Depositary, of the aecend part ind ,urh heldera of the preferred and common ateik of the Laatern Pennsylvania Rail ) Company u )iae become part.ea thereto by rtepesttlnis their ahurea of aterk there tinder, have arcreveil u. Plan for the tcBnancing of a.ild Eaatern Penneylvanla Railway! t-emrany and that a top of aald p.an haa been nled with the Commercial Truet Company. "I I'hlladelphla. Dcpealtary. IJcpesltlnB alnckheldera who de net withdraw from aald Pretectee AKieement en or prier te June 29, 102-, will be deemed te have asaented te The uniicrslsncd Cominlttee ahall have power te determine whether a aufflclent.depeall r aitent haa been made te Juatlfy declarlna aald Plan operative. aWBtniS, MONTGOMERY A. II. UIERCIC H. If. DEAN AMcKI.EHAN. Counsel CLARKNCC II CI.ARK SAMUKI. D. WARRINER Herrla Ilulldlnif. J. WHITE M. M. FREEMAN I'hlladelphla . Commute. . H. C. HOP60N. Secretary, 01 Ureadwuy, New Yerk Oeva't FRu 1.... 102 Hnle) 102 Or'd Trunk of Canada T R.... 100 B.... 100U Jap Oeven't 4a 1 7T 2 77 K Uea'm 7a 1.... 108 1 77 K Belgium 8a 2.... 107 1.... M07 Kingdom Deu mark ct Sa 2 08 B 08 1 08 S.... 108 Kingdom Den mark ct 8a 1.... 110 1.... 110 K Italy evts 23 00 K of Nether- landa Sa 00 00 00 00 00 100 00 00 4.. 1.. 2.. 2.. 10.. 1.. 2.. 1.. 1. 10. 10. 4.. 17.. a. B. 11 11 us n n ii n A1 Intb'e R T fd 68 08 OS ft as as 08 a. i 4 1 11 8 0 1 Intb'e Rap T Sa nl 11 78 8 70 1 70 1 77 Intb'e Rap T 7a wl 20... 2..., 20. . . 2... 20... 80... 10... 10... B... 1... 1..., tnt'l A O Ntbn aj wl 4..., 10.... 11.... 10..., 8.... l ae Pae T A T Bt 3 00 B 00 Pae Tel A Tel Ca rcta 4 04 1 04 B.v... 04 (Xaale) 04 6 04 Panna H R B 2 00 1, 00 Penna R ne 1.... 100 1.... 100 Peoria A M In 1 8.1 10 SO 6 80 Pare Marat Bi I OS Reading Ce 4a 0 84 Bt U A B F aj 8 78 2 78 1 7H 81 ti A 8 F In 2 en 2 00 1 07 2 00 1 08 Bt I. A 8 Fran Berlea A 0 71 1 (flat) 71 SILaS Fran Ba w 2 OS St L, Sw'n lat 1 78 8t l Sew'n Aa 1 70 Bt Paul IXC 8 Ii 41 1 81 1 80 lOtaale) 80 i 81 04 04 04 04 04 04 08 03 04 04 04 BOUGHT, SOLD AND QUOTED Alteena & Legan Vy. Elec. Rwy. 4'js, 1933 American Rwys. Ce. 8s, 192j American Rwjs. Ce., 5s, 1927-31 Keystone Tel. Ce. 6s, 1929 Scranton Ky. Ce. 5s, 1932-47 Constantine Itcf. Ce. 8s, 1923 Wil. & Phila. Trac. Ce. 5s, 1963 Wil. & Chester Trac. Ce. 6s, 1923 Springfield Water Ce. 5s Samuel McCreery & Ce. Jciii l)cr Phlln. Stock Kxchangi Franklin Bank Building In Continuous Business 6eyecw MOVER & CO. Bankers & Brokers 301 Chestnut Street Atlantic Refining Ce. Nen-Callable Debenture Si Due July, 1937 Penna. Sfate Tax Refund 100 and Interest Townsend Whelen & Ce. 60S Chestnut St. Utmttn X, V. A I'Uta. fflecc .'jrihaiiaea $12,000 Life Insurance at Age 35 for $10.08 Per Menth In an Old-Line Company Rend lour Data of Illrtb and Lear Wtiat S10 n Menth Will Ve for Yen PEARL & SUDLOW AGENCY 1701 FINANCE RLDQ.. PniLA. "Dependable lnearnn( Hrnre 183" HORN & HARDART CO. OF N. Y. Durranla A Frarllena Bought ft Sold GARRISON & CO. IBNlR BUILD1NO. rilllADBlrll IA . "luilil jSAlfUelHitKukit '"'I ct bckwie f ; Tiilr.eiit ri.iu.iimt ifMaW C. S. PATTON & CO. SO A CniCHTNVT 8T8. BANKERS aneeeaaeraea 8AII.EB A 8TBVKNSOM Benaa and atekaboe5h end aalf. Membera Phlla. Btetk Kathanita. 07 07 07 07 07 08 07 07 07 Kingdom Ner way ct 1 100 K Sweden Ha 8.... 102 Parla-Lyona M 0 wl 2 fil 1 81 B 81 B 81 1 81 Queen'd 0 wi 1.... 101 3 101 Queenal'a Kxl Lean 7a 1.... 100 Republic Iiell- la 8a wl 4.... 101 1.... 101 1.... 101 Rap Chile 2S 1.... 101 8.... 101 Rep cnua '41 1.... 104 2.... 104 10.... 104 nep Chile '48 H.... 104 0.... 104 1.... 104 nep-e or uru away Sa 1.... 100 State of Sae Paule ct 1.... 102 Swltz'd Cen Ha 1.... 117 U K Qrt Ilrlt A I'd 1022 1.... 108 U K art lint A I'd 1020 0 108, V K art Brit A I'd 10S7 1.... 102 1.... 102 I.... 102 U B Ora 7a w i en 2 .... ue U H Urazll Ha 10. 0.. n. 10.. l. e.. n.. 2., n.. 2.. 4. 1., 1. 4 104 104 104 103 103 103 103 103 103 103 103 103' 2 1.... 8.... 1.... 1.... 10.... 4.... 1.... 1 O P 1. K A W Va 4a B 77 Bell Telephone or Pa 7a 1.... 107 Bath Bteel a. 7 08 O Gdla'n D 7a 3.... 100 2.... 100 ?kn Rap T la 2 82 Buffalo Recn i A Pitt 4f 4 00 luah Ter'l ea 1 ty 2 SO 1 00 anaaian uti Elec 0a wl 1.... 101 Canadl'n Nthn 0a rcta 10.... 112 Canadian N 7r Kflat) 112 B 112 Zana'n Pae 4. 1 77 1 77 0 77 2 77 :tl Paclfle lat 1 R8 1 80 1. . 80 C K X Jay Be B 107 C A O cv 4 B 87 8 87 C A O cv S 2.. .. 02 :m a Ait s 2.k. 48 2 48 0... . 4H 2 4S 6(aale) 48 1 48 Chi D A Q 8( 1 .... 74 C M A Q llr 23.... 105 21. .. 103 4.... 103 3.... 103 (1.... 103 1 105 Chi A Q W 4' 1 00 1 BOV i no Chtrare Mil I St P 4a '2S 10 70 10 70 10.. .. 7i Chlcare Mil I Bt Pcv4'. 4 .... 00 1.. .. 00 Chlcaee Mil a SIP fd 4a 12 .... 0.1 a . . 03 Chicago Mil t fit P cv. B 1 74 1. ... 74 Chi A Ivwn 7. 4 .. 103V. C It I A P fn 2 81 3. ... 81 2.... 80 Chile Cep'r 14.... 103 Cl'd Cln Chi Bt I. gre 4a 1 81 Columbia a 4 Elee let 3 05 Cen'd Ceal Ce of Md Ba 1 87', Cena'd Uaa 7 B2 32 B2 B2 B2 B2 B3 63 Srab'd A I- aj S 25 8eab'd A I. fd 2 41 1 41 Stab'd A U At fi B7 1 08 8h Hteel H 8a 1 00 Sinclair C Oil Cerp 7a rcta ... 08'4 Sinclair C 01 Cerp 7 a I.... 104 Sinclair Crude O P Ce B 8 08 Se'n Pacific fil 2 87 2 87 Se'n Paclfle t 3 80 Sn Italway 4a 1 00 Sn ItaU'y 0 2 00 B en l.... oe 10 oe 2 in 2 00 lO(aale) 00 Sland'd Oil el Calif 7 1.... 105 10.... 105 Steel Tube Ce cf Am'a 7a 1.... 100 Third Ave n 2 B8 Union Baa A Pap Ce 0a 1 07 Union Pae c B 03 0 03 4 08 4 08 4 03 i Union Fac Id B 85'i Union Pae la 1 01 Unl'd Drue 8 2.... lOD'i Unt'd Fuel A uaa 0a B 08 U S Steam S Ce Cep 8a wl B 0 U S Itub'r Ba 1 80 4 00 U.8 Hub 7a 2.... 107 Ud ft Steel Ba 2....F 101 S.... 102 1.... 1U1-4 Utah P A I. Be 1 00 Va C Cbm lat S 0 Va-C Chm fla B ei Va-C Car Um rcta 7a B 08 18 08 a 08 Va-C ch 7a 2.... lOBtt .... 103 Wea'n Elee 8a 8.... 100 Weat'n Md 4a B..'... 03 1 03 We'n Union Ba 1 80 Wer'.tnsha'e E A Mfa- 7a 8.... 100 8.... 100 WAKE 4a 2.....' 07 Wllaen Ce rv 1 02 Vi Wllaen C 7e 1.... 102 12 80 Hlah Lew P.M. Liberty Bs ....100.10 100.12 100.14 Liberty 1st 4. . . 00.80 00.80 00.80 Liberty 1st 4Vs. 100.04 100.00 100.00 Liberty 2d 4V4s.. 00.00 00.04 00.04 Liberty 3d 4s. 100.02 00.00 100.02 Liberty 4th 44s. 100.04 100.00 100.04 Vic Notes 4-Us.. 100.02 100.00 100.00 GOSSIP OF THE STREET ,,,,...,,., ninV'r 1.r..lBrWr.4 t ally for prompter ones. Went of the Mississippi, the story Is beat told In the reported car lesdlngc of the prlnclnnl transcenllnenil sys tems. The (etsl number of enrs leaded en the AtrhlKen dtirlnc the month of May was H per cent ever tne mint perieu a yenr nge. Chicago k 'Nerthwcitcrn Khevted nn Increase of' 2-j per cent. Total movement en the Burlington In- nrnnenil 10 nor pent. All COmmOtl tlCS. except grain, meveu in gresier venime than en the Illinois Central, with ft net sain of 13 per cent, compared with May lnnt year, and an Increase of Jl per cent compared with April. Ht. Paul's loadings incrensed 21 per cent. Sturlcbaker Dividend numers According te the Street geslp, finan cial Interests In 8tiidebaker are under stood te be In fnver of nn extra cash disbursement of at least $5 n share (his year. This, with the regular dividend of $7 a j car. will make a total payment for 1022 of $12. It Is stated it Ib net definitely decided whether !fu extra will be paid In a lump sum at the .Tuly.meet Ing or whether $2.00 n share will be pnld In July and another ?2.fi0 payment mode later In the year. Studcbaker s earnings, It was figured out. readily jus tlfy the payment of $12 In dividends this year. An Intelligent Statement The cnnaelldatcd balance sheet of Cities Service Company and Its subsl dlarlex ns of December 31. 1021. with nil lntcr-compeny items eliminated, Is a document remnrkable in the history of public utility companies. It is thn first bnlance sheet carrying underneath Its items n simple explanation of whnt they represent, and It wns prepnred se that the security holder and the man In the street would be nble te nnal.xzc the position of tin; company without uncertainty. Distribution Period te Come Later It ti Insisted in geme quarters that se long ns business continues en the tin grade there w 111 be n certain amount of Incentive for the purchase of securi ties, and while the market may be com paratively inactive for n time. It is be lieved the trend will be upward, net only throughout the remainder of the present calendar car, but well Inte 1023. THE TKADKR. UK' .MBW IttMw en call b6th ia.?.. fif collateral, eiwneu wu, .--.. endln and renewlna, MHIJW1KI.PMIA Call, r, per ent: time. 4rc?ntt mmerclal paper, three te elx nientha. 4 te 4 per cent. mfmhfitSimmLx J..H m... "iV r; ww f Ni Mr yM Ami 6am I l4&t.te.Au. ".,.''. ASK YOUR BANKER About This MORTGAGE SECURED PREFERRED STOCK Nen-Callable Full Participating in frill Ratie of 6 first mortgages en improved real eurit cgtate tQ eutstendlnpr preferred stock $125 te 5100. Yield W l guaranteed by interest income from first mortgages), plus 50 of all profits. Marketability-' ptcctcd at Par Payinf Guaranteed Dividend Quarter! January April July October General Mortgage Financing Corporation Ridge and Girard Avenues (Cep righted, OMPC. 1022) vl W SALESMAN College man. fle seara' aelllng- exper ience, Knewleitse of merchnndlalns and mlverllulnr. Qualified te handle men. Dealrea executlve poaltlen with live cor cer cor .eratlonc ,-EO,KB OFFICE TAX KKTUBNS AUDITS SYSTEMS I. Franklin Hewird I C. Ctrtified Publjc Accountants r.nnd Title DM,, t'ltllidrlrnm. f". aaaasaaaaaaMaaaaam M'inf nidi.. tViiii,.n. I. V. 10... 1.1... 1... 1... 30.'.. B... 10... ft,.. in... U S Meilcn 4a ie no 30(aale) SA n (fiat) no s se no ni no no no te 40 DO 4 no no 60 U 8 JJeilce Ba 2 02 n. 10. 4. n. 10. 20. in. n. n. ft. s. 4. n. 4 I. ft 81 61 . 61 02 61 (10 00 Ol 61 ni OO' oe no 60 Ol no 10. I M Marina St "1 01 Int'l Pap b Ba 2 80 1 85 Iowa Cent't 4a 4 45 Juilua Kayaer A Ce Ta rcta 1.... 103 2 104 K City Ft a A Memp 4 a 1 TS 2 78 1 78 1 78 Kan C A H na 1 84 Kellr Jlprlnv'd Tire ga 2.... 10S 1.... 108 lake Shere il B'n 4a : 1 04 l.ehlch Val 'In 1.... 102 L A Myere 7a 1.... 114 Leng lid It M 8 77 te A Naah 4s 1 01 Leuie A Niiaa- villa B 1.... 101 1.... 104 Manlte'a S W Celli Sa '43 1 04 6 03 M Oil rcta 7 2.... 118 4.... 118 3.... 118 I Oil wa'd 8a 1.... 118 Mex Irrle 4a 5 40 Mich Ct'l d 4a 2 80 MM S A Or la 7 .... 88 7 88 2 80 2 . . . . 60 din A St I, 4a 4 .... 45 1 45 8 .... 43 I A StL, fd Ba, i nir ft B S'.e Marie 0a 2 10.' II K A 1 al w 0 60 te nn 12 BO 1 60 M K A T 4a wl 1 80 U K A T 5a wl 5 83 2 83 M K A T 6. wl 7 04 Un Pacific 4 18 68 2 03 1 03 'Ie Pacific 6a 1 08 16 08 Ment'a Pwr 6a 2 00 2 00 Merrla A Cem pany 4a 1 86 V T Air nic 0a 2.... 100 V T Cent' I 4 n 88 ,V Y Cent'l n 2 Ot 2 03 18 04 N Y Cent'l na 11.. 0.. 10. 10.. n . 10.. n. i, no 117 117 117 117 net no no Wall Street's mood Is always swnyed by prices, and when prices et many Is sues moved up In the early trading yes terday there wus a sudden disappear ance of the dismay that prevailed Mon day. Its place was taken by n degree of cheerfulness, with the Street generally looking en the convu'slen In prices that marked Monday's trading eh the course of a storm whebc center had passed overnight. Many of the room traders were dis dis dis poecd Ie sell stocks et the opening and offerings by thli speculative element caused sharp declines In numerous Is sues In spite of the vigorous buying thnt enmp from strong interests In the list generally. lJcfore many minutes pnbscd strength In the market leaders extended te all the active groups, and It was net long before general recoveries were in order. The Shakedown Inevitable npcaiiRe of Us suddenness and sever ity Monday's violent decline overshad owed nil ether topics of discussion in market circlet yesterday. Mr. "I-tolU-yeu-so" was around In countless num bers and It would seem almost impos sible for any one te hnve been caught n thn urnnir aide of the devk when the comber soused all hnndc Then; were many, nevertheless, who mode the wrong guess, for there arc still count less numbers wne nave m,i .- " educated te believe the tree has net been planted thnt ever will touch tile eky line. While many were taught, ulinest everybody expected thnt which occurred. This is what a prominent wire house "Seldom have mnrket commentators been in such thorough agreement as te the moving cause of the sharp reaction which has been in progress during the last three sessions of the Stock Ex change. It Is the history of specula tion all ever the world. Markets be come overbought eventually, no matter hew constructive the underlying condi tions may be, nnd the incv table re bound is caused nine I mes In en W hotheads who rush mndl.v beyond their depth after there has been n protracted rise, exercising no judgment ns te either the amount involved nor the qunllty of their commitments." 3 - 8 by 6' - 10 opening measurements Thirty-four ether sizes in stock at nrices equally low. The med ;rn sash for shop, factory, garage and warehouse. than Garfield 1160-lMr. Wnkef) ler sizes ami prices David Lupten's Sens Ce. MORE COTTON CONSUMED May Total 495,674 Bale, Against 440,714 Last Year Washington. June 14. Cotten con sumed during Mnv amounted te 405,074 hales of lint and 52.344 bales of llnters; cempnrcd with 440,714 of lint and 48, 071 of llnters In May last car, the Census Ilurenu nnneunced today. Cotten en hand Mny 31 In consum ing estnhlishments amounted te 1.410, 830 bales of lint, and l",.2.-t bnles of llnters. compared with 1,280,723 of lint and 210.232 of llnters se held a year ace, nnd en hand In nubile storage and nt compresses 2,601,007 bales of lint and l)4.lfi1 bales of llnters. com pared with 4.738,207 of lint nnd 200, 370 of llnters se held n ear nge. Im ports amounted te 14.320 bnlcs, com pared with 10,f542 in May last year. Experts for May were 400,307 bales, Including 12,001 bale" of llnters, com pared with 477.3S1) bale?, Including 4340 bales of llnters exported In May last year. Cotten spindles active during Mny numbered 31 ,0T3,001 . compared with 32.S30.107 in May last jear. BAR SILVER Perrieatlc t alUer wan unchanged In New Yerk tedav at 00c per line ounce; ferelun, 7i!c. oft c. In Londen the price wa d higher at 36 d. hSmmd R. A. M. & Ce. A Feature In our June circular is n com bination of six selected In vestment Bends, with a cou pon due each month. Cost $5855, icith an annual re turn of $360. Circular upon request Reed A. Morgan & Ce. Members nt the l'hlla Stock Kich. ire-tr ;;nd rnut uuip , ruia. Telephone Spruce Z131 7 WIEGNER,ROCKEY&CO. Certified Public Accountants Drexel Building, Philadelphia iii ii i. imi u in mill ram iiniriiirninr mrniira innni nm nin.umiirm Next Greup after group of the oils en the New Yerk Curb Exchange have been joining the bread upward movement. , We have ready for distribution an "oil folder" containing interesting infor mation 6n a few of the most premising issues that seem te have been overlooked. Ask for ii Oil Felder 99 Jenes &. Baker '' Member New Yerk Curb Exchange Direct Private Wlree KtvTerk Chicago Beilen Philadelphia Pittibnrih Detroit Biltlmere CUtlna PHILADELPHIA OFFICE Widener Building Bell Lecuat 4730 Seml E. H. Rollins & founded 1M ' Investment Bends 1421 Cheatnut St., Philadelphia riiene I.eruat 7300 Bosten Xcw Yerk W Ilk fa-Bam Baltimere Chicago San FrancUce Xti. Mfi Utah Light and Traction Company First and Refunding Mortgage 5re Geld Bends, Series A Due October 1, 1944 Uncondttieniilly Uuaranteed at te Principal and Intereat by Enderaement by the f Utah Power & Light Company Price 91 and Interest yielding ever 5.70 flettripttvc circular en requeat T.t.l.r.t... B icuat730 Telephenea Keyitene . r,,., 386l BALTIMORE OFFICE 433 Equitable Building Telephone - Plata M51 tlir' UOIJ M JUJ1IUUILI.ULLJL . J.X1UI1L.1.1U ULIli r THOMAS JANNEY COMPANY Sele Leather Tanners and Shee Manufactarers wish te make a sound, meritorious and conservative investment offering. Address DESK 1 THOMAS JANNEY COMPANY, VICTORY BUILDING. PHILADELPHIA !l Ml Bears Picked a Geed Time Explaining Mentlaj R smnsii-tip In ft. ft. sn. 8 N" V 10. 1 Cuba C'e But fm eta'd n 83 Cut a rtallread Cj THa 1.... 104 Den It O Be 1. ... H.' Det U II 14- 1. ... 81. Du Light 7H I.... 100U limp Oaa it K 7,a rcta i nan Erie It It Cv M e no Krle It It cv D 3 51 Hi Krle it lat en 3.. 10.1 Uria nil Ce 4a 1 03U Erie a Jer Ot 2 Dili Kram'n Induat Iev 7Ha wl ft OR 1 074 8 08 Franclice Sua T'e w a.... miH Ooedraar T k Rub'r 'SI 1.... 101H 3.m. IH leav; 103U . . 108'i .. leavt .. 108H . . ieau Cent'l 7a .. 10SS .. 10JH N T Kdlaen Ce OHa rcta 8.... 100U N Tk Llcht II a Pnr Da I en; New T K II a Hart'd 6a 1 78' S Yk Itl a 4a 4 37; .V Yk TeJ 4Mb 3 04S N T Tale'e '41 1..., 10HU 7(aa!e) 104 U 3.... 104 4 M Yk W C a Ueat 4 Ha 4 114 N A Edlaen Ce fla rcta 4 nau Nonh Weetern Bell T 7a 3.... 100V4 K Paclfle It 4 a 10 8AH 3 80S N Paclfle It 0a 13.,., 100 ft.... 100 ft.... 103 Ntti S Pwr Be 1 00', Otla steal lata 1.... 101 Pac O t I! ti I dO'l 1 00'i Paclfle A It et Me lat 1 0ti the n.nrket. the head of nnether prom inent banking firm hnd till" ie t-ay: "Professionals pkkrd a Koeil time te sell stecltB. The mnrket had become a little "tale. Many of the geed stocks have been declining for several weekn. The price structure became weak nnd professionals began te offer stocks down. It was simply n natural reac tion in a bull market." Grewing Volume of Traffic Railroad effieinls report an Increas ing volume of trnffif both enst and west of the Mississippi Itlvcr. This applies te all commodities and mer rhandlfe except teal, the small pro duction nnd shipment of the latter pull ing down the genernl nernge. With this exception, the total olume of trnfflc east of Chicago nnd St. ieu!s com pared favorably witn a enr nge. and the n.enth te month sliewing is excellent. Shipments of steel greduwtN are ln crensing. and building operations are NORTHERN INDIANA GAS & ELECTRIC CO. First Lien & Refunding Mortgage 6r Geld Bends, Due May 1, 1952 NOT CALLABLE FOR 10 YEARS FRi:i: OK 2 NORMAL FEDERAL INCOME TAX PENNSYLVANIA FOUR MILL TAX REFUNDEIi Earnings reported ever twice interest requirements. PRICE 95 and interest yielding about 63arr ELKINS, MORRIS & CO. LAND TITLE BLDG PHILA. Members New Yerk and Philadelphia Stock Exchanges BOUGHT-SOLD-QUOTED Atlantic Refining Ce. lit 5'i 1937 Harriibnrg Lt. & Pr. Pld. Harritbnrf Ry. 5'i 1963 Commonwealth Pr. 6' 1947 Penna. Okie Elect. 6't 1938 Ttnnetiea Elect. Pr. 6' 1947 Lehifh Pr. Sec. 6' 1927 Bnenet Ajret 6't 1926 Bartkleiville Gat & Elect. 6'i 1947 Haferttewn & FredTc Ry. 6'i 1944 Midi R. R. 6't 1960 Parit Orteant R. R. 6'i 19S6 Republic of Brazil 4'i, 4','i & S'i Kamai City Pr. & Lt. 7'. & 8'i Middle Weit Utilities 6'i, 7't, 8'i MCewnCQ LAND TITLE BUILDING PHILADELPHIA, PA. Mfn.brrs rhlludelphla -iteck Exchanar FOR the investment of sums of moderate amounts we suggest the preferred stock of one of the well-established public utility corporations of this State. Earnings have , always shown a geed mar gin ever dividends and are new at the rate of 4' times dividend require ments. At the present price the stock yields ever 7 en the money in-' vested. Particulars en application. HARPER &TURNER Investment Bankers Mtmbtr rillatltlphla Stock Exthant STOCK EXCHANGE BUILDING , Te Helders of Victory 3 Notes Cumberland County, Pa. 4'j Improvement Bend Dated June 1. 1922 Due June 1, 1952 Optional after June 1, 1937 NET DEBTi Leii than 2 of aliened valuation The United States Treasury Department having called these Notes for payment June IS, 1922, we suggest for rein, vestment Cumberland County Pennsylvania AVife Improvement Bends. EXEMPT FROM FEDERAL INCOME TAX FREE FROM PENNSYLVANIA STATE TAX LEGAL INVESTMENTS IN PENNSYLVANIA AND NEW YORK Price te yield 4.00 te optional date, 4.50 thereafter Commercial Trust Company Member Federal Reserve System CITY HALL SQUARE, PHILADELPHIA 4y2 PENNA. MUNICIPALS TO YIELD 4.15 Tax Free in Penna. Exempt from All Federal Income Taxes SO Year Nen-Cullable Bends. Communities within thice miles of Philadelphia. Legal for Trust Funds in Pennsylvania. I'ull pattUulais upon request A. B. Leach & Ce., Inc. Investment Sicuntics 115 Seuth Fourth St. l'lillaUelpliln Serenten Philadelphia n nnf ' ,"$ sS9j POWER """" LIGHT Dated Oct. 1, 1913 Due Oct. 1. J 953 KarnliiRi December "Slet, 1921 2 0B times Interest clinrKes en all bends and note eutntnndlnf; with uninterrupted preferred dividend record since 1906. Company operates six hydro electric plants in four Kaitern States. Price 82, te yield 6V4 Circular T .'. en request Fairman & Company Drexel Building, Phila. Eatabllahed 1902 Correspondents : A. H. Bickmore & Ce. Ill Broadway, New Yerk isaiUaiBBiBBiitBTlrflllilliySUbadllW jfOILl "" fa 1 ARE YOU SURE 1 that vaijr new hullrllnn uilll -..- - ..-.- w...w...B ..... return what you expect of it? Peer designs will net give the greatest use of fleer space, nor peer construction the maximum value. JOHN N. GILL CONSTRUCTION CO. Commercial dBilrfinae, raciarwa, lufilolienj nnd Smaller Werk Oil. llulldini f llti.Aiii.ui uM raiLC sw hjrnnikr I.Uht & Tener (oil. ,V 10.11 eunllrn (his & Klertrle ( n A'n ,lll(l InillnnmmlU 'Irret HiiIImiu 4' lu.tt Jrrnfj Cll. lien. i. rntrriun I'm 1011) rrnnen.ee IJIntrlr (e f iiiiinieri I'f(, riprlnRllelil ( iin.iil. Uiitrr Ml L-up. merlnan Killuam ( emp.in; , ll UNiirf. Kenlurk Trartlen A Trrmliinl ' VJM New Jerer) ima tuniimnj yH 1010 SAMUEL K. PHILLIPS & CO. ilanbeis Philadelphia Slech Kxehange 507 Cheatnut Street SALES REPRESENTATIVE OR EXECUTIVE Willi the ouch riicrlcin. in ail lihim- of sbIi-s work ami '.or xiu I'saful recurri. ile.lre" tn mnnrcl Hllli a well entnblUhaU tunccrn Uli b'I futmp Apjily c ii. "i. i r.ixu it iiffi r k Hathaway, Stene, Wallace & William, Inc. CNCINEERS MANAGERS 1712 Samem St PniledflpAU SPAUO. TUT Operating Munagement et Industrial Enterprises. Ir.dustiial and Technical Inva. tigntiens and Reports. Consult., ins Engineers te Manufacturer Guarantee Trust and Safe Deposit Ce. 316-18-20 Chestnut Street 1415 'lirtnut M. I H. B.'d St. , HAS ANY NATIONAL BANK nil eprnliiR ful n all areuml iimii unilr 31 of upwards of 111 cara' expprK'nce fapaule of nesumlnE cMiullm rent uuaiblllty At Sirc.itnt net lenntcteil In money matters Immmtna. lendlna. mertt agea, raal r.lale tleiil. etc.. e are rqulpverf In h indie every Urlull with eeurtear, ill, pall h and atlfurtlun. EatalN llehed 18M. Abe Kelsky & Ce.. Inc. N. XV. t'OR. 0TII '. W.tlJtVT BT. ! "" ' ". j.Kiii.Kii eiriii; Frederick Peirce &Ce. VDR ltd IUVKUT MKNT Slraa. rhllaa.li.hla PHILA. RAPID TRANSIT 5s MORLEY, WOOD CO,vL . 333 Cheatnut StrM. A MetA-re ( Y. rblte. M KaW." I m: Wj 'JT "fc W1 m hb l'i ;i V r ' tH a m V rw'l tfl ri 1 iii 4 i4w- w m ax m t!l 'Tr I vii'tni ,r & ..A'sitA:. w . .. '17 A.jt . . ic .. ..ifjX,, .i ... . .ji.j-jii frET .' y i iA'PJtJteV'3Z,Sr?fWWi& fiVtfliB2r fm-gJbME&j?. XTl.J-fS LWSfiTi "i.".uU.....k- JJivai!!) Alt'-. U1 KY. 074 .?wy, Kin
Significant historical Pennsylvania newspapers