miMmmmwi
ass mmmrn
m, , ' tr -v -, - ' r
GOSSIP OF
THfc STREET
iBt
IS
El
v.feS' W?
cwtHBrgaa
!eirWbl Wndi n'd 'ft&tfete.'.' it TsTW f'u f&iMtiitvr' Wrfe cehalr
&M.
vw m '.. ,i wahkp n
. f ,IUtn((An tirtl lipeti n.
JKr" n for' " ilm, y.rt. nt-
fXA own 1.1 ."from "nvcrnmcnt
ISiiiril lliore linM been n d-riHtlc re
s'" 1.. etiprntlne reM. with rVfry
gShinil " theH, lines Inter en
WIimi tin1 (ieveriinirnt wn In control
Sin cillV Inrsc Inrrciisc In njicrntliiR
m "ti l' nrtly due te n nrrwndlniliir ml ml
rnnre I " wM nml partly te pro pre
inniiwd Incrrnse In tlr mimhcr of men
7mnle ve'l This hn- been Mntlufncterlly
Svilfnbl- for their rteckn.
it m net Imurobeblo, with the Anal
wtilr meiit of Hi vnrleMH problem cjn-
fro ll K hP c:.rr!erH and proper niljnjjl.
Vnte of the ceiil htrihe fltun Ien,
l 'Sel wh of the rnllrenilB wll be
if. li i hkher dividend distribution.
Se. "the content which Imvc cllin-
inn nlpnynipnti. 1itrlnB the VL' or
i i Should be ennbled te effect n
rcvtonillen of Mich tllxtrlbiitlen.
Hnlllmere nntl Ohie l one 01 i
' P ". "h which h mentioned n llkrtv
,t I ib' Ftteh n dejmrttire. New imk
r-nt il nhe If xiiekeii of ns In line
Sr n Iw'rrn In Its dividend te nevrii
nc- rent. Whrtliw or net this will
L rrallxeil In the near future cannot
te Zu-. filtlietiKH It I" believed It
wHl depend Mimewhnt en the Rcncrnl
I in Ien nml the ability of the carriers
n maintain their eperntlnpt ceMh nt the
lOTer levels tlmt have been established
In the hist year or se.
11.....I Mnrtmf n lilt. CleCCeil
Theic were only n few offerings of
new seciirmci' '. , . . .
?ll(mRlt that the Mtnatlnn In tWn re-
wire? will veimiiii ini'i'"""1 ........B
current week. Aside from thn bet
""., ' in.. ....... Iumiiiiu urn lint
mcctliiB with ii" wnnn n reception from
the 1 11 'le ii" wiif the caw n few weeks
acn The reason for this Is n number
of securities of lesser importance have
been put eui.en '') "'."T !.
mnrket. or nt least dealers' nhclves.
It N iindeixtneil ninny of the dealers
are leaded up with securities of secon secen
dnrv Importance nml It d'Hibtlcsn will
reuiilie censlilcrnble time te effect tlielr
' . ...II.... I.... t. un ..f tl.t. I111M
rreiier cunriun inn. mi.nn-v .
1 ' . .1 l.n .nt nf llll'lliJ.
rnielill (icnuiiij " " in". ......
ters in the se'ectlen of Investment Is-
Tl'ie jnihllc Is exercising Rrenter euro
In llie liuieliiisc of new Issues, it belli?
rcllllSlCII lllllliy wiieicuiith nuic "k
er.eUl'-eil IIIC uvl jhiiki"iii in my -;-
Ice Ien of M'cuiltles for efferliiR and this
t -.! ....... .....nf In ll.n mnl'lrft
an ciciiiuii .uiuu njir..-t in ii.v ... v
mill uNe bus breiiRht about indiges
tion of teeiirltiesxte n greater extent
than has been in evidence for tevcral
diiiiiiih I'.i.-i.
This, however, should net be In-
icrpie en .is indiciums iui ik "
marl.it will net give n geed account
of Itself during the next few months.
The Spirit or Optimism
'On Hie whole, the majority of Amer-
flcan people are Influenced by the favor
, nlile iiidicntlens of the moment," wja
the Jlrchnnlc and Mutals National Hank
of New Yerk, "and n distinct spirit of
optimum prevails in financial and bus!
boss circles.
"With money rates lower that nt any
time In a nun.bcr of years, credit In
a cheap and plentiful commodity, mid
Jl Is net te be wondered that this
consideration by itself lias had a dis
tinct effect en H'litimcnt. Lew dis
count rates reflect the release of a lar
greater quantity of accumulated funds
than Is needed te finance commercial
icnnircnHiitt.. This is shown by the
fact that, notwithstanding the improve
ment In industry since the early part
of the year, hanking accommodation has
8l'.en no corrcxpendlng increase.
"With the reserves of our central
banking vstem at u high point, nml
with geld continuing te flew Inte the
country te add te these reserves and
bininleii the tacilltles for credit .there
Is pvery present assurance that the
legitimate demands upon banking re
Fourres through the balance of the year
will be readily met. Further reduction
has occurred In the volume of 'frozen'
agricultural leans which were curried
ever from last year, and this has con
tributed further te strengthen the credit
position of the banks and te improved
aentlment, especially in the West anil
Seuth."
Livestock Selling Charges Investigation
Through an order by the Packers'
nml Stockyards' Administration, signed
by Secretary of Agriculture Wallace,
the Italtiinere Livestock' Kxclmnge Is
restinlned, for a period of thirty days,
from putting into effect a new com-mit-Men
chnrge for pre-rnting co-eper-nrlMi
shipments of livestock handled
by members of the exchange, and a
hearing, at which the members listed
In the order may present their case.
Is called for July 18 nt the Federal
Ihilldlng, Itnltlmere. "Hearing was in
stituted upon complaint made en behalf
of eeitnln shippers of livestock."
The members of the exchange recently
published a joint turlff schedule, pro
viding that after July 1 an extra charge
of fifty cents for each additional ac
count of sales after the first two en
en. operative shipments. The Packers'
and Stockyards' Administration con
tends that the increased chnrge is ex
cclve and a violation of the net.
Copper Marjict Conditions Unchanged
Little change took place In matket
conditions in copper last week. One
f-alc was made by an agency te a lnrge
lensumer of .X.OOO.OOO pounds, which
j'liiiixni ie-'i cenrs. per pniinn, accord- ,
lag te the information obtainable, but
It Is noted that few of the denlersi
were willing te iIIfciisn this business, '
nml this has led te the belief that It is'
llOsillln till) Tirli,. fiiu ullMittt. I. ..!.... I
the figure nnnied.
Aside from this transaction the vol
ume of business wa.1 only fair. Con
sumers who had Inquiries In the mar
ket early in the week withdrew them
before the end in the hope of some
I1I.W iln.x.l........... ,1.. .1 . .... l.
... .. , , -uiuiicui in me coming ween
ynleh would work in favor of the user. I
"in jum wnat tliey expected te happen
U net known.
Inly Reinvestment Demands
Theie V.UH n feeling in bend mniket
circles nt the clesu of lust wuk that
tile .lull- 1 liiti'i'Kit ,i ii.l ,11. -1,1, ,.i,l .,...
will tiiul its way ba-k te iiivc'itmrut
rlianiiels resulting at hast in a trm trm
l'erarj demand for hlgh-grnde isue.i
yMiich may crente n revival of activity
in the bend imiiket during the early
rait of Jul. Indications are theie
Mill be mi speciiii'iil.ir inevcmentii, sonic
et the leidlng bondmen entert.ilnln I In
J-l'lnieii that tin "cream" Is off thr
mniket for the time being.
if it may be iissnuieil money inurKU
enul tleiis will remain easy, there
'lieiild fellow n better demand for hlgh
ninile seciiillle. which gives premise nt
'fiillimlng throughout tlie icmaindci nf
tin) current calendar year, but nt tin
imment no one seems te Imvc an',
iiieliiiailen tewuid entering the market
r friM i leminlttmcntH en an exten exten
me scale.
Netwlthstiinding the higher iuteic, t
rates ehatlned during the last week,
yiileh was the result of (lie b.inks inak
)K Pieparatiniis for July 1 settle
"Wis. Intere t nml dividend payments.
ii.Yi " .J.s ," 'H-lnewn fact that vlr
"'illy alt Institutions, net only uf thl
nut ether cities, ure well equipped v,ltn
I tonal buy Ins of securities .will ngain
piny nn iinpertf.nt pnrt In the bona
market, as seen as the Hurry in money
rates is ever.
General Conditions Improving
General Improving condition In bus!
nets ami Industry nre. revcnled In a
comprehensive survey Just rempTMcd by
the United Htntcs Mortgage nnd Trust
Company,
"There would seem te be reason for
optimism te be tempered by enntien In
general business and crop conditions,"
snys Jehn W. Flatten, president of the
trust cempnny, In connection with the
supply.
"Industries nre clearly tending toward
n mere healthy situation. The shertnge
of business fipncc reported until recent
months seems te linvc been provided
icr, nnti runner business construction
nt this time will linvc ,n tendency te
dicrensc rents,
"In housing, while the shortage cre
ated during past years perhaps war
rants nddltinnnt construction, the pro
nounced nctlvlty In this field, it would
seem from this report, Is In advance of
business conditions. Should this move
ment slew down, adjustment In labor
might result: meanwhile building costs
should be scrutinized with great enre
and in miny Instn.iccs discounted.
Foreign Exchange Confusing
Operations in the foreign exchange
market hist week were of u character te
create considerable speculation In the
minus of these Identified with the
trade. There were rather wide lluctu lluctu lluctu
otlens, rates dropping te the lowest
levels of the movement, but were quick
ly followed by sharp rallies without
any news developments te account for
the rather spectacular changes which
occurred.
The nmrket for some time past has
been dominated largely by the specu
lative element nnd performances during
the Inst week were qul'e In line with
these of recent similar periods.
Ilreliers Opinions
Newburger, Hendersen A LeCb: "In-
but nfter nine months ef'nrn'ctlcnllv tut
interrupted ndvanre It is a perfectly
normal development for the mnrket te
show outcrepplngsc of going stale,
There has been a arnernl conviction,
despite the violent gyrations In a few
r'etely held peel issues, tlmt prices have
gene high enough, At the same time,
while net showing nny s-erleus Impnlrk
ment, there nre many reasons for as
suming the buying power tins spent its
force. This hns been quite evident for
several weeks in bends nnd stocks. The
approaching mid -summer vacation
period usually n forerunner of curtail
ed Investment nnd spcculntlvc buying
Is nlmest certain te produce Increasing
dullness and nnrrewlng of mnrket move
ment. I'nder these circumstances we
feel instilled In reiterating our pre
vieus advice tlmt further commitments
should only be mntle nfter cnreiui anni
vsls nml illHerlinlnnllnn. We also Mill
firmly believe thnt en nil bulges It
would seem advlsnble te take tirettts in
the active speculative favorites that
linvc had a geed advance nnd wntch
for nnnnrtiinlll.xi In tilek nil the "nerc
stable" issues, especially the rolls, if
nn amicable ngrecment is renencu in
the present wage controversy.
Ncwhall, Grew & Dlffenderffer say:
Fliinm-fal reiwillinns l.re si-cll tl a
liiixtnpfts neltvltv ninv reach almost te
boom proportions this fall. While there
Is a feeling of conservation In the air.
based upon ndverse possibilities, actual
developments thus far have seived most
ly te strengthen the foundations for
prosperity. This conservatism is wnr
ranted by the thrialenlng labor situa
tion and the Indefinite foreign trade
outlook together with political condi
tions. If agricultural prosperity kcein
en drawing nearer we shall probably
have a real autumn boom this year
which was net witnessed In 11)111 and
1020.
"Stock prlre.t during the last fort
night rallied nbeut !Vi points from the
low level of the middle ! June nnd
cnine within nbeut five -eighths of n
point nf rcrenchlng the highest level
made during the 1022 bull movement.
However, the stock mniket has shown
no real trend since the middle of
'April nnd its Immediate future taeVfc
uncertain Ju wnen nneincr .mtiwcu
can be expected Is n flticstlen, because
many Important factors have te be
.1.-1 will. It I., tittfln tlmf nrirnlilcctl
labor Is going te put up a In light'
against wage reduction. As yet no se-1
rieus coal slicitne has developed, but .
with the time growing shorter nnd the
miners still as persistent, something!
...ill tinuA rt n ilnnn. Tlin fieiiillttit mil- .
rend strike will also have te be taken
enre of and It Is hoped that these two
powerful unions will net succeed lit
forcing the Government te Intervene
in mining or railway nffairs just en
the eve of n congresslennl election.'
TIIH TKADER.
ByOn
,m$chaiite
V THE M
l FTH8T BANK K
CHMVTEHED I
UKDEH Tltn I
NATIONAL
1 BANK IM
ACT l
'-'
ifl . ci.
Ilt I VI tJA
". 'iXtrj.L
fx .rjA s".
V?
l$,Ui' e
-r
l7f- iVi -nmiiiiiiiiriiiii'i uvi'li
Bwp.'RiWH
BBmBIj
FOR SALE
PORTABLE CHAPEL
24x48
WITH ANNEX
New Located
t
59th and Pine Sts.
Bidt Will Be Received Until
July 31
MR. FRANK WILLIS
BUILDER
59th and Pine Sts.
ROOFER'S WOOD
Cord Weed
Selected Fireplace Weed
Wholesale Only
ROGER H. CLAPP & CO.
Ardmore, Pa.
or Dennghj- A Huim. 1837 Mnrket SI.
SKAA
INCORPORATED 1803
the PHILADELPHIA
NATIONAL, BANK
Philadelphia, June 30, 1922
RESOURCES
U. S. Bends and Certificates of Indebtedness $11 ,970,042.63
Leans, Discounts and Investments 76,321,680.40
Accrued Interest Receivable 268,635.55
Customers' Liability under Letters of Credit and Ac
ceptances 5,724,4 1 7.21
Due from Banks 16,102,340.59
Exchanges for Clearing Heuse ??
Cash and Reserve 16,874,501.85
$134,629,603.65
LIABILITIES
Capital Stock $5,000,000.00
Surplus and Net Profits 1 1 ,205,061 .92
Unearned Discount 308,81 7.48
Reserved for Taxes and Interest 511,1 57.42
Letters of Credit and Acceptances 6,49 1 , 1 27.97
Demestic Acceptances Sold 7,1 45.28
( Individual $84,792,133.80
Denesits I Bank 25,637,064.58
icp e ( U. S. Government .... 677,095.20 111,1 06,293.58
$134,629,603.65
LEVI L. RUE, President
DIRECTORS
Geerge Weed
Alfred C. Harrison
Levi L. Rue
Geerge H. McFadden
Randal Morgan
Samuel Rca
Pierre S. duPent
Asa S. Wing
Samuel M. Vauclain
Wallace D. Simmons
Samuel D. Warriner
Eldridge R. Jehnsen
J." Heward Pew
J. Kearsley Mitchell
Henry G. Brengle
S. P. Hutchinson
G. Celcsbcrry Purves
PHILADELPHIA'S LARGEST BANK
HlllllllllllimHIW
OFFICERS
President
JOSEPH WAYNE, JR.
Vice-Presidents
EVAN RANDOLPH
A. W. PICKFORD
Cashier
CHARLES M. ASHTON
Assistunt Cashiers
ALFRED BARRATT
DAVID J. MYERS
WALTER G. PATTERSON
DIRECTORS
FRANCIS 11. niJIJVKH,
nnilmnn 13. UrlKCem
V, t'rmlerli'K hnyiler
Win. NvleIU i:iy
Jilin llrlbtwl
KrmirtK II. Her". Jr.
Win. W. Franlcr. Jr.
tliMirK I. Hu'i'iiEitrtcn
Jum-jill Wayi.e. Jr.
i:un ilunaulpli
Chairman of thn tlearil
Miirrln n. llerltlus
Arthur V. Morten
Wllll.ini Jny Turner
A. J. County
Wm. I'. llftrha
Wnltcr S. Thomsen
A. A. Corey, Jr.
It. It. 1. Carpenter
cilue U. UceU
THE GIR2&RD
NiiTIONAL BANK
PHILADELPHIA
STATEMENT OF CONDITION
at the close of business June 150, 1922
RESOURCES
Leansand Investments $49,474,850.72
Accrued Interest 151,851.99
Acceptances 1,871,462.91
Exchanse for Clearing Heuse 3,319,032.70
Due from Banks 13,903,504.70
Cash and Reserve 4,488.716.27
$73,211,419.29
LIABILITIES
Capital ?2,000,000.00
Surplus and Net Profits 7, 167,375.58
Reserve for Unearned Discount 301,656.71
Reserve for Taxes and Interest 195,833.16
Circulation 1,084,997.50
Acceptances 1,871,462.91
Deposits 60,290,093.43
$73,211,419.29
First National Bank
of Philadelphia
31 B CHESTNUT ST.
Condensed Statement from Our Beeks June 30, 1922
RESOURCES
Leam and Investments $27,123,683.43
Customer' Liability under Letters of Credit and
Acceptances 1,136,999.66
Interest Earned but Uncollected 39,629.96
Due from Banks 6,394,024.55
Exchanges for Clearing Heuse 2,247,746.2.1
Cash and Reserve 2,590,960.43
Total $39,533,044.26
LIABILITIES
Capital $1,500,000.00
Surplus and Undivided Profits 2',969,850.4S
Interest and Discount Collected but net Earned 76,053.54
Reserved for Taxes. Interest, etc 173,228.60
Dividend Ne. 154 Pavable Julv 1st 45,000.00
Acceptances of ether Banks sold 786,726.14
Letters of Credit and Acceptances 357,841.58
Deposits 33,624,343.92
Total $39,533,044.26
WW. . TAW. f'linlrmi of tlii Kn-ril
MVINflSTON K. .lONIiH. I'rrMilrnt
KKNTON WARNK. Vlrr-Prrs. HOWARD 1. imiON, At. Cnsh'r
HnKV .1. HA s. VlrrPrfK. .. If. HNK(M. Ami. Cnnhlfr
TIIOS. W. AXttRFAT. VlfiPres. ROIIF.RT K. ALURICH. Al. Cash'r
CIIAH. II. JAMIM. Tlwl'rf. T. srnTT ROOT. At. Cnnlilfr
CAUL II. CIIAFFKi:, Cal.lfr
F. W. Ayr
Than. S. Child
.'iih H. Clnrlc
WnKen flnrk
Cyr-J II. K. Curtis
DIRECTORS
Frnnklln D'OIIrr
Wllllnm P. Grst
K. C. Irtln
l.lilncslen K. Jonm
Wllllnm A. Ijiw
.InHpnh II. MfCall
1'rril'k JlcOwen
.1. Ilrnrr Srntlrrisoed
I. W. Van T)rk
Always cemmergiA
wmmi.
v&
VZi
I
m
ii-
T'l
1&
tUkV Wiw4 WSssnflMHsVX1i
PENN
Matlenal Dank
PMIStlhl
Marliil tnt
S.vtnlll StrtiK
Founded ItM
Comptroller's Call, June 30, 1022
ASSETS
Immediately Available:
Cnsh and Reserve $ 2,350,441.01
Exchanges for Cloerir.c Heuse 501,740.92
Due from Correspondents 462,077.66
Eligible Paper Discountable in Federal Reserve
Bank 8,115,051.79
U. S. Certificates and Bends 3,264,896.26
$14,694,207.54
Other Leans and Disceunts:
Due within 30 days 1,330,935.18
Due 30 te 90 dnys 259,619.18
Due after 90 days 1,628,671.27
U. S. and ether bends 690,006.53
Banking Heuse j 271,000.00
$18,874,439.70
LIABILITIES
Deposits $12,262,530.99
Due Federal Reserve Bank 2,438,200.00
Circulation 148,500.00
Reserve (Unearned Interest,' taxes, etc.).... 197,086.89
Capital Stock 1,000,000.00
Surplus and Profits . . . 2,828,121.82
$18,874,439.70
M. G. BAKEH President W. B. WARD, Cashie.
CHARTERED by CONGRESS I78
c. NATIONAL BANK 1864
North America
30r Chestnut Street
Philadelphia, June 30, 1922.
REPORT OF CONDITION
RESOURCES
Leans and Discounts $22,780,235.99
Due from Banks and Bankers 3,584,628.68
Interest Earned Net Collected 84,933.27
Customers' Liability ac Letters of Credit 619,283.30
Clearing Heuse Exchanges 1,560,008.36
Cash and Reserve 2,144,786.22
total $30,773,875.82
liabilities
Capital $2,000,000.00
Surplus and Undivided Profits 3,148,791.92
Dividend Unpaid 80,000.00
Reserve for Taxes, Interest, etc 321,482.60
Unearned Discount 138,356.49
Circulation 493,997.50
Acceptances Executed and Letters of Credit
Issued 619,283.30
Bills Re-discounted 1,300,000.00
Deposits 22,671,964.01
total $30,773,875.82
K. I'l'SCY rASk.MORK, Tre-Mtni
R. S. MrKlNLKV. Vlr Trr. i:. M. KROMKR. Cap-lilcr
W. J. MinrilY. Ain't (aslilrr C. M. l'KlCK. Ain't t'iMUlcr
J. W. WIIITINO. Am'I Ciiililrr "
Directors
Lincoln K. rnMmere Wultrr II. IIiMt.in.iltr I.rennrd T Hcnlc
Jehn W. I'fsrre Cliarlr II. Dunn m... v i
(Imrsr VaXtn lltktr, M.D. Kdnuril V. Ilrnvin lanii-M I. C. Ilcndrrven
N. Mrrs Flllrr Thrrnn I, Crnnr Waller Krlifn
Christian r. FrblBiT iruhflinr Weml .! ,.,.,.,.".
.1. Ilnnrll Ciimmlnns W. UlrKlnnd Dnlrr - ' "r I '"mere
W. I'frry Hlmpsen Ulllluni r. Rruil. Jr. I.. II. KlnniirU
Central National Bank
of Philadelphia
Statement te Comptroller of Currency
At Clese of Business June 30, 1922
RESOURCES
Leans and Investments
Custemeis' Liability Account of Acceptances and
Letters or credit uut3tanuinfr
Interest Earned Net Collected
Exchanges for Clearintr Heuse
Due from Banks and Bankers
Cash and Reserve
.523,202,205.70
15.170.49
75,335.97
1,031,775.87
3,161,027.72
2,333,456.29
LIABILITIES
$29,856,972.09
Capital $1,000,000.00
?,urJ?Iui! , r, ( Earner! 4,000,000.00
Undivided Profits ' uarne" i 737 487 0
iicsuneu jur luxes, uepreciancn, etc
Unearned Discount
Acceptances and Letters of Credit Outstanding
Deposits
597,740.02
111.103.05
3,170.49
23,407,470.91
$29,836,972.09
OFFICERS
CHARLES E. INGERSOLL. Prtildent
STANLEY E. WILSON. Vlce-Preildent DAVID R. CARSON. Awt. te Prcldent
A.D.SWIFT, vice.Prcs.. Cnaliler ALBERT H. ASHDY, Ant. Cashier
WILLIAM I'OST, Chairman Executive Oimmittee
DIRECTORS
GEORGE BL'RNHAM. Jr.
WILLIAM WOOD
CHARLES WHEELER
CHARLES E. INGERSOLL
A. A. JACKSON
SAMUEL M. CURWEN BENJAMIN RUSH
CLARENCE M. BROWN WILLIAM TOST
STEVENS HECKSCHER
AVERY D. ANDREWS
J. BARTON TOWNSEND
C. fRED'K C. STOUT
CLEMENT B. NEWBOLD
CHARLES E. MATHER
HARRY r. BAKER
Chestnut Street at Fifth
Capi'al $ J, 000,000
Surplus aril Undivided Profit Earned $J,,700,0eO
FRANKLIN
NATIONAL BANK
Chestnut Street West of Bread
Philadelphia, June 30, 1922.
RESOURCES
Leans and Investments $45,838,305.88
Liability Under Letters of Credit and Acceptances 291.0S7.08
Interest Earned Uncollected 211,972.23
Due from Banks 1 1,900,887.42
Cash and Reserve 5,585,452.40
ExchanRes for Clcarinjr Heuse 2,133,910.53
$66,261,705.54
LIABILITIES
Capital $1,500,000.00
Surplus 4,000,000.00
Undivided Profits 1,341,764.42
Reserved for Taxes, etc 581,1(58.19
Discount and Interest Unearned 189,309.07
Letters of Credit and Acceptances 291,087.08
Acceptances of Other Banks Sold 05,954.45
Bills Paynhle and Rediscounts at Federal Reserve Bank. . Xene
Deposits 58,292, 122.33
$66,261,705.54
J. It. MAI.I.ISTi:K, lrrldtnt
,1. A. HARRIS. Jr.. Vie l'rriilint v.. 15. MIIF.I.DS. At. t'nalilrr
J. M. IIAIIDT, Vlir 1'reN. nml 'islilrr . M. OMI.MA.VN, Jr.. A-.t. CiiKliIrr
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Samurl T. Ilndlne
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DIRECTORS
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.Merrl I.. Clntlilrr
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I'llsur . I'rllflii
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Arthur W. Sen nil
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National Banlc
Where Arch Street Cresses Third in Philadelphia"
STATEMENT OF JUNE 30, 1922
RESOURCES
of
Ai rpt in. H
II .1 HIS U'.fJ (It
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J SNl.lL'll M
$16,402,912.83
LIABILITIES
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