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EVENING PUBLIC LEDGER PHILADELPHIA, TUESDAY, AUGUST 22, 1922
Mr
22
''ffr
ksv;
Canadian
Bends
Government Municipal
Provincial ,
Investors seeking liigh-grade
security, combined with a
liberal rale of income, should
net overlook the opportunities
afforded by Canadian Govern
ment. Provincial and Munic
ipal bends, which may new be
purchased at prices te yield
from
5.10 te 6
Write for Circular $:
Weed, Gundy & Ce.
Incorporated
11 Wall Street, New Yerk
I
i!
Terente
Londen, Eng.
Montreal
Winnipeg
1CS.
awMwE
Forty Years
Without
Less
Straus. protected first
mortgage 6'2 bends
offer opportunity for
the widest diversifica
tion. Fer full information
call or write and ask for
BOOKLET 799-Q
a
1 1
it
i
I s.w. straus & ca
mconrexATxo . iitadusiikd HJi
Stock Exchange Bldg., Phlla.
Ttltfhtni Sravct 5618
40 years without !e
te any Invester
' 1053. W S. ft Ce
IK
H
LC?lMUSeg,tgLgfctfeii??TB5SCTgCMRc5g8MM
SPECIALISTS
We make a dependable
market in all Issues of
UNITBP STATES
GOVERNMENT
SECURITIES
COMMERCIAL
TRUST COMPANY
Member Federal Rcierve Sjriiem
City Hall Square
it
H171
M
I
I 7 5 ill S x tvMr M n
N. Y. Connect. R. R
1st 4y2s, 1953
Hoeker Electrochemical
Ut Mtge. 7s, 1947, at 100
F. P. Ristine & Company
.8
WIdener Building, Philadelphia I
New Yerk Kllxubtth. N J. I
Ucmbcrs New Yerk and Philadelphia '
Stecfc Exchanges '
I
1
Pacific Coast
Securities
hoi iiiT sin i m en. i
Pacific' Gas & Elec.
lis, lilll
Southern Cal. Edisen
as, mil
Great Western Power
.Vs. ill Hi
Pacific 1A. & Pr.
.is, 0S & Ulf!
Southern Cal. Edisen
COMMIIS
McDonnell &(q.
Mcmbiri Acie i'urk Utacl: hxthanyc
1J0 llre.idHii) Tc-I. Krcler 781)0
Direct J'Hiatc Wire te Pacific Coast
Wc Will Buy
United Electric Ce.
of New Jersey
First 4s, 1949
Kean, Tayler & Ce.
5 Nassau Street, New Yerk
Telephone, Kecter 7080
HARPER &TURNER
Invitmrnt Bankrri
Jttmiert JWtettttpfilJ Stock Cuhml
STOCK EXCHANGE IHIllDING
Philadelphia
,TftfUt
in
A
C S. PATTON & CO.
lit
fe;
t HimwMin trt
fe
T
EARLY PRESSURE
QUICK
IY
E
OVER!
200
400
400
1100
100
9000
E00
4500
300
800
200
100
100
300
200
16400
300
3200
400
100
1000
300
700
3200
100
300
2200
100
100
TOO
200
300
1900
8400
600
6500
300
1800
300
100
2600
100
10700
2800
100
1800
200
400
100
7100
100
100
600
14300
25
100
500
2900
400
200
1200
600
3100
8600
9100
200
1600
300
600
2100
100
300
1500
300
1400
300
700
100
500
3100
400
2200
300
200
900
1300
2400
700
4800
400
100
1900
200
100
4500
43 DO
3200
1103
400
3600
3400
1100
2800
17800
23000
7700
100
1900
6500
400
100
200
9300
2700
700
2600
700
100
10J
103
200
100
9 DO
..03
7900
1500
500
200
Profit-Taking and Short Selling
Encountered Stubborn Re
sistance All Along Line
New Yerk. Aur. 21!. The Inherent
position of the market wis put te n
rnthcr wvere test (hiring the early oper
ations of teilnj-'s fhIeii nml the (ten
frnl list enme tlireugli tin erclenl with
fljlnjr colors. Just enough of the un
certain ran through the overnight de
velopments te Invite fre selling for both
aeeennts. The stubborn reilstance of
fered te the pressure net only supplied
convincing testimony of the funda
mentally jtreng position, but also dem
onstrated In a most pronounced manner
the cemnlete control of lin mnnaeers
of the rent motive campaign.
Statement published In the morn
1 iug news of the nlleg.-d firm portion
imiintniiirii uy n number of the mil ex ex
eeiitlves en the seniority fiuextieti
eeinei) le bmllv puncture yestenlay'"
hopes of an early ettlement of the rail
Mrlke. The market community were
11 little dazed for the moment, but sub--eiUPiitl.V
uc-ri able te liiid n mere rein-f'-rHus
interuretntien of the nttitude
"f the rail chief. This wax found In
1 he accented theory of the Htriki'r-"
being defeated without n compromise
mid which naturally was regarded as a
constructive ir.lhience en all the rail
hares. Without the debating the cor
rectness of Mich deduction. It In all
events exerted the desired Influence and
quickly overcame by whatever nils
giungs engendeied by the overnight
developments.
Possibly as bearing upon the eftRtern
Mtuatlen the theorizing was correct,
hut it did net seem te apply with tin
-iHiie force when applied te condition
West of the Mlissippi. Much, of
course, will ilepcml en the outcome of
tomorrow'-! cenfereiice and which will
disolei; whether the Western or lnst
eni managirs will control the meeting.
The Western men undoubtedly are readv
te compromise, but the Kast apparently
are net in a j folding humor.
Fer a time after the opening It looked
as If an ever-bought condition had been
created by the five consecutive days of
advancing prices. This wns partly
disproved b the subsequent rebound.
There was, nevertheless, considerable
amount of profit-inking at the opening
and directly following the initial
transactions which provoked an cner-
;ptic attack en the whole Iht by tin
bearish clement. The resultant reae. ,
tlen depressed mnnv c.f the active tock,s ,
from 1 t.i .". points from Inst nlght't- !
c-l"ing level. The hipping, meter,
-'cel nnd ralliends were tin mcW af
fected A number of selected s-nie.
notably the equipments, offered stnV
burn resistance, and the sustained -in.ind
for thest, sl.arcs event ually turiuil
the course of the main body of stocks
ill ward again before neon. American
t'ar and Foundry steed out prominently
in the rebound with n sensational ml
".nnce of ever 7 points te n new high
fir the rear. Other outstanding fea
tures elf strencth Included Western
I'n en. Allied Chemical and Pacific Gas
and niectrlc, with sains of 2 points, all
at nr near the yenr"s best price".
An increased Investment demand and
vigorous peel buvlng caused striking
Ham rs in a
tin afternoon,
! ir I lie j car
uiericiin ''a'
gctt & Mer-
Wesrmj.i'e.i-0
l'tuti'd Knilr,
number of -linre during
Ianv new high pile
were nsnln established.
gamed R pni.iti. I.lg-
."'... : Otis r.leaer, .":
Airbrake. S-". and
.".. The coppers, I'nited
and the ga issues enn-
K, (nil Mures
!innei l'. be actively bought.
Scarciiv of efft'rl'igs accentuated the
rapnl ri'O In special st.ieki In the final
hour. Teledo, St. I.euis and Western
seared nl j points, with gains of -t te 5
pi.ints in the preferred stock.
Marked irregularity 01 rannum mini-
'I gages was the outstanding development
of bend dealings. Chesapeake and
I Ohie general 4V, s were up 2 points nnd
' huige, Milwaukee nnd Puget Si und
, -Is were up Ufc, with gains of n point
Lein-; scercvl by Seaboard Air T.lnc r,s
ind" adjustment "'-. CbesapeaUe and
(ill!., convertible ,"s reacted u point.
I.iwever. and New Haven 0- slipped
lai k l'i. -vblle fiaotlenal declines- tool;
t.i.i..n in I'lili-ncn nod Alten !'.-. Haiti -
i i .r and tilii" nerti'de t'l-s. Mis- J
. un Pacilii- geiii-rul 1-. Nf-ffelk and j
Wi stern convert ilile lis and St. Leuis
,ind San Kmiic-I-'e I". Senes A and.
mreme (ji.
Little netivlty was noted In the in
.dustrial group, the point rie In Amcri
i.,, r.ttnn Oil f.s and the nominal de
clines in Ihnnire Puel T'-.h, American
Water AVerks 3s and Marine As being
I
the only important ennnges. xu- n
aetienarv tendency in Liberty ISenrts
was continued, deelines of fi te SO points
being noted In all the active issues.
The market Improved In tone and
broadened considerably in later deal
ings. Public utility nnd high-grade
investment railroad mortgages were In
strong demand, several pushing through
t.j new high record"
FOREIGN EXCHANGE
New Vnrli. "g 22. Fellow lug ! '
('irifi at tin ..utset, ranging up te (i
I units in f i nne.. 1 points In Pelginns.
c in sterling ntiH lTs in marks, the,
m.irket f..r feri'ipi exchange was a
waiting one. and dealings throughout
,re mi small scale, with unusuallj
n.irrev, chiingi"'.
Late cpietatliins, compared with .cn
terdav's final figure, showed decline (
of ' .if in sieiling, ' points In francs. 2
in lire, I! in Spanish and 2 in Danish
and Dutch. Pt-etns and Swedish were
exi options, showing net gain of 1 te 2
points. Swiss was unrlianged. Marks j
left off with a net less of l-'s at .(I7-1 1 - I
ai a hlight recovery frm the opening
decline.
Quotations were : Sterling cables
) ni. deninnd 4.nai: franc cables!
7 ii.'i. checks 7 f2''i : Jlelglnn cables j
7 ,"L checks 7.r:t1i ; lire cable- i.311-... '
check 1 31 '. peseta rabies 13 li-l, checks j
13 02: Swiss cables lil.l), i hecks
l!i 03; Danish cables 2102. checks i
213"; Verwnv cables 17-10. heeks
17.!13; Swedi.h cables 20 37, cheek.
20.32: guildei cables .'15. !i:i, i lice Us
lis SS; marks .07.
yrsTEKLiAV s ci.esi.mj eL-urAri'iNH ,
Blerllnis IT-incn l.lia dull'lt-rn i
IvmnnJ -I iss. i uw I ,ij :is r,
cublM .4S 00'4 I.53I-. Hi) no
TODAY 3 OPENING QUOTATIONS
Situr-lln Krine Lira flmt,t.ru
Peena rvi
Cables
.. 4 17' 7.dlt 4.H1 as HO
.. 1 iVL 7.0JW i Sit, aa (IJ
ILOSINQ QUOTATIONS
SterllnK J'ratic I.lrci GuililnrH
pc-mand .. " '-O-Va M .is.lie !
uUlt. "' T.ua 4111, snesi
GRAIN MARKET
het
.'. Vitt-mber
i k-mtur
n, .
, i i rn
I .(jiii-iubei
i.ii-inbr
nnu -I
Sep elllli. r
I iMi-unljei
OP'll
. 1 ui'i
1 IM
. 1 U7'4
iiuth
1 113',
I et
I tl'l
I.OIV
1 en
1 HI'.
I OUS
Cieaq
I.IC'SJ
I II3S
1 flH,
en',
Rll'.
i'l'.
:nS
.17'.
t
.in',
j.-'i
.nr.
:i.i,
arc:
ai
.it',
.17-,
.May .
Fci'tenibicT
Oiiii"-r
Jtib
Seiilembci
Ocjiebur
iu I')
le -'U
10.17
IU.2,'1
in oe
I u. le
10 l.'i
0 SJ
u tu
COTTON MARKET
Prv. Clew Otxiii HlBh Lew
t.T.! aXOti i 22.7U MM 2U.B2
Cee
- ' 'l'i.
2.'.fi3B6
IJse,, sa.ea ?'
jwii. 22.TJ 22.B2
.,V.,.( 7' 7. mm
23.03
22.B2
22.A2W60
22.11
22.32
V2.8t
22.23
22.3233
fMtr.i SH
"pet, S3
,'? ';'.'i'v,,,iM.i,.'
32.7U
!2.a.1slJ0
a?'4 ttk'i ft5:&n
23.04
82.25
.(lO.
g-llliiacaiiHiTi
I
NEW YORK
. D'v.
Blc In t
200 ..
Today' Nat
Clea Chr.
2254- H
STOCK HUh
I)TT
. . Advance Rumely. .. 22
3 Advance Ilumely pf. 60
i Air Induction 57?'
.. AJax Rubber 11 H
. Alaska Juneau O M H'
. . Alaska Geld Mines, !i
Allied Chem A Dye 84
7 Allied Ch & Dye pfMOj;
4 Allls-Chalmer- D7
7 Allls-Chalmcrs pf...100
. . Am Agrle Chem.... 41 Ji
. . Am Agrle Chem pf . . 7'
i Am Hank N'eta 74 H
3 Am Hank Note pf . . 52
. Am Beet Sugar.... 48
4 Am n Sh Fdy new 71 W
. . Am Can . 61 H
7 Am Can pf. 110
12 Am Car & Fdy 189
.. Am Cotten Oil 27
.. Am Cotten Oil of... 5314
.. Am Drug Syn 7
.. Am Hide & Lcath pf 72 K
7 Am Ice 112W
.. Am Intemnt Cerp.. 36',4
1 Am T.a France Eng, 13
2214
60
56
IIH
1V4
14
8114
109H
5514
99
4114
70 &
74V4
52
4714
7154
59 H
109U
186W
27 M
53 74
6H
72 54
111
35V4
13
36
120J4
120
44
107 H
112
1754
63 54
100
42
100 54
84U
39 Vj
65 54
ii
61
I23i
150 54
103 54
149!
19
42 V-
88 H
D5H
32
174
47 54
55
554
45 54
115
104
94?.;
3!4
11654
32 54
31
12614
595;
65 54
3254
32 Ji
77 54
78 H
10 540
114
33 'i
115
25 W
20'
55
96 54
135
48 54
7 54
30 H
20 54
10
82 U
62
8
61
144?4
92
4314
40 !i
74 H
46
40
eon
77
UW
18(4
40 54
62J4
8
22J4
35 54
53
90 V,
124
70 U
46
86 54
98
78
22
30 b
59 54
72
32 4
50 54
61 ?4
58
1 00 J4
3?e
16
70
39
I26i
10
78 Vx
92 54
116H
444
9H4
94 54
26 54
95
1454
36 54
49 54
2M4
129 54
132 ?4
111
35 H
41.4
77 !s
474
H
84 54
18'a
27'i
20
181
88 'a
98 54
14
54 14
90 J4
12'
2H4
62 i j
65 'a
100J4
79
182 54
13K
80 5J
80 54
36 '4
32 h
' 3 i a
1'-54
42 '
Yi 'a
i!4
81 ',
2
82 ?
23 4
70
77 54
21 54
1854
914
112W
113
3 54
8
4194
1 54
4
39 7a
33
2b 'a
n
1 1 1 1.
1-Ui
bl V.
17 h
57 H
75
13J'a
31 '4
17 54
66 54
43 H
60
57J4-
11H-
154-
54
84
11054 4
56 J4
100
52
47 54
71 ?4
61 M
54
354
154
154
54
14
'"J4
54
254
110
18854 754
27 M
53H-
7
72 54
1 1 1 54 -35
54
13 -3654
120 54-
120
44H
107 H
112 -654-
17H-
64 54
100
42 ti
10154
84 H
40 65 54
1
H
54
54
H
54
T4
1
54
H
1T4
54
54
T4
154
154
Am Linseed 36 V
6
Am Locomotive.
,.121.
Am Loce pf
Am Metals
Am Metal pf. .. .
Am Radiator. .. .
..120
.. 44 H
..1074
..112
Am Safety Raier. ,
Am ShlD & Cem. . .
7
18
Am Smelt 65 4
Am Smelt pf 100
Am Steel Foundries 42 W
Am Steel Fdys pf. . 101
Am Sugar Rer 85 V
Am Sumatra 40
Am Sumatra Ted pf 65 Vt
Am Sumatra Teb rts 1
Am Tel & Cable.... 61
Am Tel & Tel 124(4
Am Tobacco 15155
Am Tobacco pf ncw!03l4
Am Tobacco B 150J4
61
124
15154
10354
1 50 54
19
42 Ta
8854 -i-96
H
32 -18
54 -40
H
55
55
45 54
117
104 51-
94l4 -3
11654
33 -31
127
59 54-6554-33
3254-77)4-78
54
100 54-
114 54
36
115
25 54
20 H
56 4
95 54
135 -
49 U
7 54-
31
21 -II
83
62 -
054
62 54
146 54
93
43 54
40
74 4 -
46 -
40 -02
-
77 54 -11H
1834
41 -
63 -9
22 54
36?i
54!i-r
91 -
124 H -74
46 14 -86J4
98 -r
78
23
31 V, r
59 54
72 -32'i
1054
61 '4
58 :
101 54 f
3?a r
16 -70
-39
54 r
127
10 -
79
93 K
1
54
154
. . Am Waterworks.... 19'4
. . Am Watrwks C pf 42T4
7 Am Watrwks 7 pf 88',;
7 Am Woolen 90 H
. . Am Writ I'npcr pf. 32
. . Am Zinc Lcl & Smelt 18 '4
.. Am Zinc Ld & S pf 48 H
. . Anaconda Copper, . . 56
De Odd Lets 55 ?i
. Ann Arber pf 454
C Asse Oil 117
C Atch Tep A San Fa 1044
D Atch Tep & S F pt 95'4
.. Atlan BIr & Atlantiu 3H
7 Atlantic Coast LIne117
.. Atl Gulf & W I S S 33
.. Austin Nichols 21
7 Baldwin Loremottvo128
. Baltimore & Ohie... G0J
4 Ualtl & Ohie pf.... 65 K
.. BaniBclall Clasa A.. 33V4
Beechnut Packlnff.. 32'4
C Bethlehem Steel... 7714
B Beth Steel B 78
7 Beth Steel 7 pf...1C0T4
fifth Steel 8 pf...H4U
Brit Km Steel 2d pf 36
5 Brooklyn Kdlsen ... 1 1 5
Bklvn Rapid Transit 2514
Bk yn R T ctfs of db 20 i
Brown Shee 56
7 Brown Shee pf 96 !4
10 Burns Bres 136
2 Burn-j Bre3 B SO
.. Butte Cep & Zinc.. 7'
. . Butte & Sup Cep. . . 31 i
. . Butterlck Ce 21
. . Cadde Cen O & R.. 11
6 California Packing. 83
. . California Petrel... 62 W
.. Cal Zinc & Lead 8J4
2 Calumet & Arizona. 6314
10 Canadian Pacific... 1 46
7 Case J I 1st pf . . . . 93
.. Case J I ThrcshuiK 434
. . Central Leather.... 41
Cen leather pf.... 74'
154
!4
1
'4
2
H
1
1
Ct-rtaln.teed Pred . 46
C'erro-de-Pasce . . .
C Chanel' er Meters. ..
ilusapeake & Ohie
. Chicago & Alten...
Chicago & Alten pf
Chlence X- C III. . . .
41 H
62 '4
78H
11 n
19
42
.. Chl fc K 111 (new) pf 64 "2
.. Chicago & Gr West 9
.. Chi & Gr West pf.. 22 H
.. Chi Mil & St P. . .. 36 H
.. Chl Mil & St P pf. . 55
6 Chl & Northwestern 92
7 Chl & Northwest pf !24?$
4 Chl Pneu Teel 74
.. Oil R I 4 Pac 464
C Chi R I & Pac 6 pf 86J4
1
Chl IIU Pac 7 Te Pi se
6 Chl St P M & O.
Chile Copper
Chine Copper ..
Cluett-l'eabedy .
1 Coca-Cela
c'el Fuel & Iren,
x e,i & Southern.
78
2314
31 Vz
61
72 i
32 n
seu
l i' .'oraile & Se 1st pr si -
I i i. ornde s Se 2d pf 58
I'cjlum Gis & lUee .102u
. i eluin Grnpliopheno 4
Cel Grap'iophene pr 16
G Ceinput Tat) IU-c... 70 7n
Conael cigar 39 i
8 Consolidated Gu3...127Jb
. CeriEOl Textiles 10 H
. Continental Can.... 79
6 Cent Insurance) 93
4 Cern Products Refl!9?4
119 -fE2
8600
24600 2 4 Cosden & Ce
47
46?4 -r 1H
2100
500
3800
tee
1100
1700
3200
3 DO
900
200
100
1400
100
3 DO
JTOJ
r,60'J
9)0
360D
4800
200
300
4400
400
200
2300
100
200
3000
200
11100
200
800
Crucible Steel 'J
3C ', -
95 - 1
20H ..
95 -14
54- 1
7 Crucible Sttel pf.... 95
Cuban Am Sugar.. 26 t
7 Cuban Am Sugar pf 95
Cuba Cane Sugar... 15 'a
Cuba Cane Sugar pf 38'
llivisen Chemical.. 51 Vt
DebeerH C MIn I.IQ 21 H
9 Delaware & Hudsen 1 30
C Del Lack & West. ..133
S liotreit Kdisen lllt
J Heme Mines . . . 36 ' i
nuluth Se K & A 4J'j
S i:a.stin.m Kodak new 77 U
3654-53
51 V,
129 54
133 111
36 54 -
414
77'8 -49
22J4 r
04'-.
18s -28
-20
14
54-;-98
5,-i-1454
55
90?4
12 5a r
22 54
6214
66 54
101
79
188 -
13
80 54
00 H j
36 54 -i
33 I, -I-&4T4
.
15?a '
42 lj
33 r
1254
62 54 -
254 f
03 -24
70
78 54
2154-
1854
9 5.
113 -
113 54
3 54
8 -
42 54
I H
414
39 5a
34 54 -26
-
23 !4 :
112 -
15 -62
18Ka
5U5i h
75
14
31 H-
I7
66 54
43 -
4 54
3 K.i-c Storage Hat . . '-
r.'.k Hern Ceal . . . 3
5 Ki.dicott-Jehiison .. 85
i:r'e g'
Kru- lt pf 28' 2
Krle 2d pf f0'4
Fairbanks !"'
h Famous Players L . S0!j
Famous Playt-rs pf. 98 !u
, I-Vd MIn & Smelt. . 14!;a
5 Fed MIn & Smelt pf 56 ?4
g Fisher Bedy of O pf 90 H
,. Flsk Rubber 12r
. . Fret-pert Texas 22 V4
i Gen Am Tank Car.. 62 !
, General Asphalt.. .67
D General Asphalt Pf'01
,, General Cigar. 79
8 General Klectrlc 188
General Metera 13Vj
r, General Meters pf- 80
Gen Meters deb C 80 ?4
Goedrich B F 37
Cr.inliv MiniiiB.. .. . 33 '
7 (;r.-.it Neitliern pf. . SSa
Grin & Uavis -16
) ,;, erth Ore ctfs . 42
. . (jreiiiL Mn copper 33
Guuntaname huijar. 14J4
,lu f States Steel. .. 832
H.iblrshaw Lkctrlc. 2!s
'-, lUrtman Cerp 83
. Hendee MfK 24
3 llemcstake Mining. 70
. Housten Oil........ 70
Hudsen Moter Car. 21 Vt
1 Hupp Motorcar.... 18
Hydraulic. Steel.... 9J4
7 Illinois Central 113
6 111 Cent Pf "A" uJJa
Indlahema Ret 34
'.'. Indian Refining 8
Inspiration Cen Cep 42
Inter Cen Cep 1 s
Inter Cen Cerp uf.. 414
Inter Aurle pf 39?,
i. Internat Cement.... 34 !4
a Inter Cem ICns 26H
lui Gri-at Nerili wi. 2J94
' L Int lUru-Hter new. 1I2'4
Int Mr Marine 1 5 .
G Int Mer Marine pf. 04 H
Inter Nickel 18'i
International Paper 58 Vt
C Inter Paper atpd. .. 75
.. Invincible Ull Cerp 14 Ke
2700
8200
100
b'DD
700
?0D0
I 3fa J J
I I 0 I )
8M1
00
300
12D0
500
600
200
100
1600
1300
500
1400
500
300
800
200
4500
1000
cjOO
200
oeo :
20 JO
303
2766
26'JJ
1 0200
2900
1200
100
1400
1000
2700
600
100
300
5500
2200
400
Iren Products JJ
. . island Oil
w
,. Jewel Tea
, . Jevvel Tea pf. ......
, . JeneM Bres Tea,...
, . Kiuisas & Quit
, . Kan City Southern.
i Kan City Se pf.,.,
17 H
664
44 a
5
27 Hi.
4
2654
38 y,
58 Ml
V
irr.nBiiiliTimiWi..nii rtiiiiiitwsi
STOCK EXCHANGE TRANSACTIONS
ONLY AFTERNOON REPORT IN PHILADELPHIA QUOTING FULL LIST
P1v In I
STOCK llih
Lew
4554
46
99
37
8
108
90
7954
3754
73
27 54
68
185
58
118
17
1254
103
136
57
89
8254
103
36
46
4654
46
37 54
64
41 54
29
48
5854
1954
128
1954
173 54
1954
17 55
29 54
13 54
3514
1154
69
87
13
18
44 54
23
5854
74
23
11
16 la
152
300
500
tee
12600
2500
400
2000
3700
1000
400
. Kayscr & Ce new. . . 4654
. Kelly-SprlnEP-eld ... 46
7 Kclsey Wheel pf... 9?
. Kennecett Cepper.. 38
. Keystene T & R. . , . 9 54
46
99
38
954
169
H
54
54
Kresge S 8 169
7 Laelede Oaa of St L 91 H
. Lackawanna Steel.. e054
. Lake Erie A. West. 37
. Lake Erie & Weit pf 73
5 Tm TJ, ,!,!,- 9-Jti.
100
8200 3 54 Lehlph Valley'.'.'.'... 7054
.uu 13 JAtrct, t, v .,- . .1B714
9100
1 Lima Ixicometlvc. .. 59 54
7 Lima Loremotlve pftIO
. . Loew's Inc 18
.. Left Ine 1254
12 Lerlllard (Pierre). .163 H
7 Loulsvllle & Nash.. 1 37 H
. . Mack Truck 57
7 Mack Truck 1st pf. 89
7 Mack Truck 2d pf.. 8254
6 Mackay Ce 105
.. Maillnsen Oe 37 H
.. Man at I Sugar 46
7 Mnnhat Elev Ouar. . 48
.. Manh.at Elce ctfa... 46
2 Manhat Shirt 3754
6 Market St prier pf.. 64
A Marland Oil 41 Ji
2 Martin Parry 29
.. Math Alkali 48
.. Max Moter Class A. 58
.. Max Moter Class B. 19T4
5 May Dept Stores... 128
3, Mclntyre new 19M
12 Mexican Petroleum. 176 54
C Mex Seaboard 20 54
6 Mcx Seaboard Oil ct 184
100
7000
500
100
900
500
300
200
400
2600
200
1000
1100
100
200
3600
300
200
500
1000
400
2000
14500
7000
2000
54
54
500
Miami Copper 30
80001.20 Middle States Cerp. 13
1?4
1800
. . aiiavale Steel 35',
. . MIn & St Leuis new 11
4 M St P & H St M.. 70 54
7 M St P & S St M pf 87
. . Me Kan & Texan.. 13
. . Me Kan & Tex (wi; 19
. . Me Kan & T (wl) pf 4514
. . Missouri Pacific.... 24
. . Me Pac pf 59
3 Mentana Power.... 74
. . Montgomery Ward. 24 'a
. . Mether Lode Mining 1 ' '.'
.. National Acme 161
7 Nat Biscuit 152
. . Nat Cen & Cable.. 2
. . Nat En & Stamp... 59
C National Lead 104
. . Nev Cen Copper.... 17H
6 N O Tex ft Mex.... 73 54
.. N Y Air Brake 79
6 N Y Central 100J4
5 N Y C & St L 88
54 New Yerk Deck 38
. . New Yerk N II & H 33 H
2 New Yerk Ont & W 28
. . Norfolk & Southern . 20
7 Norfolk &' Western. 11 954
4 Ner ft West pf 78
5 North Amcrlcnn.... 8-154
3 North Amcr pf 4654
. . North American rts. 18
5 North Pacific 87 54
. . Neva Scotia S &C. 36
. . Nunally Ce 12
. . Oka Pred ft Ref... 3
. . Ont Silver Mining.. 7
.. Orpheum Circuit.... 20!4
8 Ots Elevator 154?e
. . Otis Steel 11 !a
2 Owens Bet Mach... 37
. . Pacific Dcvel Cerp.. 5J4
6 Pac Gaa & Elec... 82
3 Pacific Oil 57
6 Pacifle Tel & Tel pf 90 54
6 Pan Amer Petrel... 7754
6 Pan Amer B 72 '4
.. Panhandle 65a
8 Panhandle pf 68
2 Pennsylvania R R.. 47 54
. Penn Seaboard Steel 7 54
1000
900
100
100
5000
4000
3400
5800
100
3400
10300
100
100
500
300
2300
900
1100
500
6300
1300
300
8700
2400
200
700
100
5100
600
200
7600
600
300
400
200
2100
2100
600
600
4100
4100
7900
100
1 1000
1200
100
100
4000
1800
600
1200
2900
100
100
4100
320C
800
100
1300
100
200
1100
14
2
58 54
102
17 54
72 54
77 54
99
88
38
32 54
28
19 54
119
78
77
45 Te
18
86 54
35
11 14
2 Tb
7
I9'a
148
1154
36
35?
80
56
9014
75 54
71 !4
654
68
47 54
7
92 54
?5
40
73
82
42
47 '4
12J4
30
7 54
42
43
67 54
4014
22
bl
108
82
4154
92'4
123
50
32
99
112
32
1614
70
36!4
3.":
72'i
93 14
3!i
31
49
55
51
15 54
31 5-4
55 54
35
51
3
1354
4
8
13 la
91 54
112
11
38 54
33
10'
48 54
53
94 B
27 'a
63Vj
in
120
9214
110J4
185
117
53 54
45
51
126
6 54
6
10
48 la
4914
33
25
23
56
01 t'j
O?
i-4 54
14
71
19'i
i 'a
149
102
30
81
49 54
149
15
3?54
71
3454
74
8s
21
65
95 54
73 54
H
i
!4
54
54
1
i
154
54
?
. .
!4
54
54
54
1
54
1
54
54
54
3 54
H
1
154
5 Peeples Cas Chicago 93
Peoria & Eastern.
26
40
73
82
43
49
12?a
Pere Marciuette. .. ..
h Pc-re Marci pf ,
6 Pere Mani prier pf
3 Ph ladelphla Ce. . .
2 Phillips Pet
. Plerce-Arrew Moter
4
54
. . Plerce-Arrew Met pf 30
. . Pierce Oil 7 54
54
. . Pierce Oil pf 42
2 Plggly Wlggly Store 43
1
4 I
354
H
!4 I
1
54 '
T4 i
1J4
Pitts Ceal 67
Pitts ft W Va 40 5a
1500
3600 l, Pend Creek Ceal... 22
700 C Pestum Cereal 92
100 8 Pestum Cereal rf...108
500 .. Pressed Steel Car., 83 54
2200 ,. Producers & Ref. .. . 4214
1800 6 Pub Scr cer of N J 94
1500 8 Pullman Ce 124J4
700 .. Punta Alegre Sugar 5014
13900 2 Pure Oil 34
300 8 Pure Oil pf 99!4
300 8 Railway Steel Spg..113
200 3.41 Rand MlncH. . .
32
16 5a
CO
'4
54
1400
9900
4)0
3D0
1100
400
600
400
. . Ray Cm copper,
I Reading
R-m'n.iHin Typew.. 3f
. Replogle Steel .. 22V,
R-nub Iren ft Steel 73 'A
Rep Iren & Steel pf 93
Republic Mtern. ,
3 54
Reynolds Springs
32 54
51
. 56 54
. 52 54
. 1554
. 32
, 55 54
, 35
. 52 54
. 3
. 13 54
. 4
. 814
. 13
. 92 54
.112
. 12
. 38 '4
. 33
. 10
7600
3 Reynolds Teb B
2900 4.13 Royal Dutch N Y.
1000
Rutland pf
2?4
100
2400 .
200 .
1200 .
1200 .
100 .
100 .
100 .
2100 .
2100 .
2900 ,
100
80J
100155
13400
3400
600 .
100
970D
4500
1430 .
300 .
100
100
95D0
1000
200
500
9D0
St Jeseph Lead. . . .
St Leuis San Fran.
St Leuis S Fran pf
St Leuis Southwest
St L Southwest pf.
San Cee Sugar....
Savage Arms
Saxen Moter
Seaboard Air Line.
S'eab Air Line pf. .
Scars-Roebuck
Sears-Roebuck pf . .
Seneca Copper. . . .
Shell Transport...
Sinclair Consel . . .
I.
!4
IS
'4
112
154
. shelly Oil Ce . . .
stlass-Shetlleld . . ..
48
Se Perte Rice Sugar 5J
6 Southern Pacific. . 95,'h
Southern Ra 1 "8 54
. . Southern Rail pf 64 "4
. . Snlcer Mfg. ... 20
8 Standard Mill 120
6 Standard Ml.! pf... 92 !4
4 Standard Oil of Cal. 1 12
r, Standard Oil of N J 186 54
7 Stand Oil of N J pf.117
3 Sterling Products. .. 54
3 Stewart Warner Spil 4514
. . Strembcrg Carb 5314
10 Studebaker 127 54
. Sub Beat Cerp 6
. . Superior Oil 6
,, Tenn Cep & Chem.. 11
J Texas Ce 48
4 Texas Gulf & Sulph 49 Jj
Texas ft Puclf.c 33
1 Texan ft Pae C & O 2654
1000
12j00
400
500
700
8400
500
3700
2900
400
8500
It 000
20DD
4400
900
520D
2 DO
4700
100
100
154
!i
414
1'lilrd Ave
23
6 Tobacco Products . .
Tobacco Pred A . .
Tel St l. a V
Tel St I, ft W pf .
. . Transcontinental Oil
C I'nlen Bag & Paper.
. . I'nlen Oil
Fulfill oil its
t0!
12
70
-Ti
t0
72
20
lu Union Pacllc
7 Union Tank ( nr
2 T'nltcd Alley Steel
151
102
30
8154
400
United Drug.
300 3V. United Drug 1st pf. su
4900 8 United Fruit 154 54
300 .. United Rwy Invest. . 16J4
2300 . . Unit Rwy Invest pf 33
11400 ., United Retail Stores 7414
300 . . V S C I P ft Fdy. , . 34 54
300 G U S C I P ft Fdy pf 74
300 ,. US Feed Preducti 8
400 . . V H Heffman ivrecn 21
3500 . U S Ind Alcohol.... 06
300 7 r H Ind Alcohol pf 95
Vi
Vi
!'
4
54
14
14
'
14
54
600 . U .'$ Realty ft Imp.. 74 14
1500 ..US Rubber
400 8 U S Rubber lt pf
700 .. US Smelt & Ref..
17933 6 U S Steel
200 7 F S Sleei pf
4800 Utah Copper
100 . Utah Securities...
6600 . Vanndlum Cerp...
1700 ,. Va-Car Chemical.,
100 0 Va iron C &C pf..
. . vu 'a
,.105
, . 44
..10414
. 121
.. 60
.. 17
.. 51
.. 30
GO!,
105 54
42 n
103 54
120
66 ft
17
4954
30
01
12
13
3454
12H
81
' V.
1
H
"8
, ei
800 .. Vlvadeu Ine 12 54
2500 .. Wubwh 134
3700 .. Wabash pf A 35 54
100 1 Weber ft Hellbroner 12
400 s Wells Farge Exp... ui
1100
4000
7 Western Elea pf. ,.108
8 107
VAt.fj3H
.. Western Maryland v M'4,
Today's Nal
Clet Chat
Dlv
STOCK Mh l"0
Sstea In t
4654 Y.
600
1500
"3500
1000
18600
700
100
800
100
W Maryland 2d pf.. ?354
Weetcrn Pacifle e , ?
Western Union Tel.118 110
Westlng-houfe A BtlOl 98 4
Westing 13 & M.... 65(4 63 54
Wheeling ft L E..,. 15 54 14 J
Wheeling ft L 15 pf. 27 27
White Eagle Oil.... 26 26
White Moter 48 48
-
"l
54
3
1
IK
1
1-4
1
354
9114
73
2754
69 -18754
5954
118
IB
1254-
163
136 '
57
89
0254
105
3754-
46 -
48
4654 -
37 54
64 t
54
1954 128 -1954
175
20 -1754-2954
13
35 54-11-70
87
13
'.9
45 54
23 -
r.8-
74
23 -1
1 54
16 54
152
2
58 '4-
1 04 54
17
73 -79
99 J4 -
88 -
38
33 -28
54
20 119 -78
-03
54
4654
18
87 54
36
1 1 54 -
3 5
7 .
20 54 '
1 54 14 -r
57 54
90 54
76 54
72
654
68 -
47 54
7 54
9214
25 -40
-73
8!
43 --
49
7 54 -
42 -
43
07 54 -
40 54 -
22
91
108
83
42
f4
12314-
50 -33
1
99'j 112 -32
-1-10
1
70'4 -
J&'i
32 , -73
93 -
LOCAL
54
54
54
'54
54
3
54
54
154
AGAIN VERY
Steady Absorption of U. 0. I.
Wasn Outstanding Fea
ture of Trading
There was n little mere nrtivlty In
spots in today's local market, but the
li-ft failed te Miew cither the strcneth
or snap of the recent sessions. Heme
of the mere prominent Issuch wero n
distinct tired nppearnnce and several
peemecl te have been overplayed for the
moment. The sluggish character of the
mnrket wn made the mere noticeable
because of the excited state of the trad
ing en the big beard. There was no
element of weakness disclosed any
where. It was rather a case of marking
time until n clearer line wus obtainable
en the general situation.
The mere active demand for TI. O, I.
without changing the price was one or
the mere netteenble events of the day.
Operations of the lnt few sessions sug
gest nutemntic accumulation. There
was n stead v nbsorptien of nil offerings
today nt Ti'2'4 te fiiM.., the nbsorp nbserp nbsorp
teon at that ll?urc being unlimited.
I'. II. T. made no response te the
Tilly Matement of earnings, which ap
peared te hnvc been nlready discounted.
Trading In the Philadelphia ETcetrie Is
sues remained quiet with only little al
teration In quotations. On the ether
hand, there was n broader demand for
Philadelphia Company cumulative pre
ferred. American Stores, although remaining
in the hnelcffrennd. nil il est another point
1
"
114
54
H
2
I.
154
54
54
54
54
14
5
te the recovery, selling up te WO, ,
which Is 0-i points above the low figure
made last week in the reaction from i
the top price of IIm1. Speculative I
enthusiasm la still smoldering after
the recent protracted forward swing, i
Pennsylvania Railroad, at 4, was
within M of the year's top price and ,
with the ether railH enjoyed a bread
market. Lehigh Valley struck n new
1
V. I I
'Mi
54
6 54 '
Philadelphia Stocks
st
1.3
nun
J.nw Cles
disc-
lOOtAUICIiem Sl3s
S0 Allis-Chai 50,
lOtAm Agri
Chem nf. 71 'I
Sl 81?,
2
154
3 54
54
5s
2
i;
C5
G0i
7H1 V5
urt
l5f Am In Cor .ifvt 3G'A 'Mi V,
1 0 A m Can.. 04 l 04 i 01Al4i
700 Am H & C 17 17 17
105 Am Strs. 14991 W8 14!)li,b
IOTA T & T-124 llii i-H
TitAm Weel UflVi
2H
00Vi4-
r.eTs
52 ..
:ie's
fcOfAn Cep... ri.r)(4
20tH & O... nil's
1)0 Huff & Sus
t pf.... ."2
20tUuitc Sup 150",,
loeichi & 1-:
ill new.. llf.rt
2001 Chi (it W )
2llt('M&St P .'.-.,
J20f de pref. ."lf-a
."OtCe-di'ii Ce 4(1 '
KM) Cel Craph 4
2.it('ern Prd.117";
2:i() Cen TrN.1 51
lOtCruci Stl. 02'4
iiir4
54
i
()-,
i
ii-".
hi.
."!
4(1
4
41!
I
ll"7,
i
117
il
01 ..
l2'L
u-vi-
JOOTLIrl
& II.120!i 120T's V2WU 'A '
.
GOO IClec Kter 40
jy .ut i j.
20tFnm Play 8!l
20 (Jen A.ph. fiC-J,
TiOtCen .Mtrs VV.
I." II & 1! T 8I
10 de t c... 21
17 In Ce X A :ili---s
niltlniln Oil. U''s
lOt.Ienes llres
Tea lit .
20 J,K Sum C ',l'..
8
e."H
s m
mist -i-1 1. s
15a
1
i
3 i
t.i
IHI I.eh .i .
Till l.eii nl. .
"iti! I .news In.-2.-itM
Sta Oil
23tMidvale..
10 X Y X II
&. 11....
lOtPuc Oil .
20tPan-APet
110." Pa It it.
83trenn Sbd
Steel
7." Phlla Ce.
MARKET WAS
QUIET
" c-r .-4 ji
l.'i'- 1:1 -j- ',-n ra
SVi iV. !( IS
21 21 VH
;m .-ii) .- ia;S
trjl
11' -. 41'.... ,d
ll'- II'....
TO1 1 7.V'i
70', Tin;
17', 17:,i
i:i-s i:;-),
:j.'i-j "'.
." "a ."i?
70 -i 70', fc
17',-.. 47'8
44 4Wm
, 1 "
70ftiM p
l7-i 1- '. gj
55'.... m
I
32 54 f
51 56 i-
51 i, ?
155e
31 54 -55
54
35 U
52 54-1-3H-
13 54
4
0
1354
91J4 -
294
154
54
194
54
94
4
714 i's
43 l4
44 ..
M V
Sl- Mi
7.'5." 'de cm pf 44
ti i-iiun i.iei- .i'h
aMi de pret .
10 Phlla Ins
Wire ..
."10 P It T . .
10 Pliila Trni
." Phil t W
211 de pref .
'A'l
3Mi
:'.7',
:i2n
00 iv
!l
:u
An. ?n. v..
524- 14
m
1IIM: Vi
- 2
1 1 V -38!
-33
54 -1
1094
4fi?4 I
53 !
9.1 Ii -20
-r,3
54
20 -
120 -92
!.J -11254
186
1I7?4
54 -s-45
-53
12754 -6H-'r
6 94 -i-10
94
48 54-
49 ie
33 J4 -26J4-1
23 -57
h
82 44
70
1654 '
15 5s '
71 19?a
'a
?!
:i'i ! !
7s ....7;i'i
122tPuii' nil.
12.1tPitts - W
Va ....
ritifPred&Iti'f
lOiltny Cen.
Till Itndie Cor
125tIt.viieliN
Tllhlie II.
22!-Siiii-l;'ii- .
ii',
-lii'.s
I I'M
Ps
4Ti
IO'-'s
4J
10nH..
P,..
IOTA .
ll"s
10s
In
-1!T
1 a '
f-, I
Hi
1 'a I
a;
:;.'i
H."i!'i
1
154
1
54
'4
ti
(TOUtll I'll!
1Cill4C..I. 1.1. 1 -M:t I
,,. , in inn ufti j ," iii"w
2lli 120 1'',
111 lu True. -I0, 401. 41
1025 V (. 1.
25 de jiref . . 55 55 55
50 H'ii l'rult.l.Wi 151-'5S 1 ,-,:!).
,-.ih-i w in.,i iri'ia'. mi'i:i mm
l.-'i
20tl'tah Cep'. tI7V8 07'i 07 i t
410 Yerk Uy.. 20 27'j 202
Net clianBO inade by cnrnparlaeii with lait
aale 1111 New Yerk .Sleck Kxchange
Tutiil tale PJOil bharec, repiparerl with
'7071 ahnrc-i M'SlerJiiy. Thui Tai- tills ei L
, llJ.-JlO dllllCK. '
l'lllUlli:i.l'lll iuinds
500 l.lhert. 2d 4',h '12
150 I.lhertj 2d P,h '42
.'(Illll Liberty .'Id 4,n '2S. . ,
211011 Libert,, -lib -P'ts '.'IS. ..
1011 Llbi-itv itli l',,n '.'IS
500 Libi'i'tv -1th Pis '.'IS.,,
lOOilll Libert Jtii -I -, s '.'IS
2')0 Vlder;,' .-'.s culled
!IOO Vlctury 4;I,n called
1000 Ha Id s In Loceinotlvo 5s..
2000 Klectrlc &. P.-e Tr 4 elf.
I1000 niectrlc tx. IVe Tr 4 ctf.
40011 Lake Superior Inc 5s..,,
1000 Lehigh Xuy -P.h 'CI....
bOOO Phlla Klectrlc 1st 5s....
500 Phllii Klectrlc lHt 58....
1000 Phlla Klectrlc Int 0b....
1000 Phlla Klectric (Is
35000 United Ituilwayn inv Cs. .
Ja
1
9i4
ST.
94
1
100. (H
100,'ls
100.20
100.7S
100. Ill
100. Oil
100, SO
100.1(1
100.2S
102
(11)'.
!?!
:i5
loot
101
UK)
in'i
151
I
102 54 -i
2 54
154
154
1
5 54
54
94
254
38 94
81 50 r
154 5J !-
16 54-
33
74 i-
34 54
74 r
B5S
21 -65
-95
54 l
74 54 '
581, -
105 54
44 '
103 9.. -12191
68 54 !
17 -50
-i
30 54
61
12 5
1394 34 54-12H-81
tUil'
88j
Total,
lerday
$74,750
(4.750. compared -win, j-s.roe yeH.
hus far thlt wtul:, $103, '.'30,
54
Vi
'4
1
NEW YORK COFFEE MARKET
Yat.
I'llJM, I
U 31 i
II. i III
II 'M i
ii :i.
H 3D
II. .1(1 1
ii. an I
11.117 I
II 3D I
UP"II
nuii
Lew
tnSir0
t,.:,,W3,
tliJT
tK;3UM0
ll 4
H.I7
11.47
"II. it
U.1.1
10, 13
Ml-J
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Oct
Dec
.1.111
lli
.Mar
Anr
.Mil J.
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ti.tntft 3
ii aa
nas ii ai
t' III ll 37
154
li.ab
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t'l SO
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U.3(i
11.33
11.31
U.31
June..
e,'.'ua:'U
'ina. . .
tNenilnal.
54
54
154
54
H
ONE
MAN ."AID f'STOVlxtiU
BKTBN
ntiiuiiun niurrj
Wne' lewla, the, man
Ulhn
ha
.ata
107Jt -
million man in me noiiew ei nil nanqj The
..-.-.-" "- .'- 'L -V-... " m 'I ".-""
bam
ei inn man win imiH you. Ka4 It
e eunrtav Public LiDuaa UaaMfDa Ja.
.1
tlen. "MaV It a Haplt" 4tfv.
..-,!',!- -v , -,,-i.i". )j ,i.f i, r.
57 Vt Vi I
7ij ii I
I7;jb I
10181 ler uiiwcrn.. joe,iuu srurts
Today's Net
Cle.e Chit,
234 ..
Plv.
In t
iBTOCK lh
1303
300
700
1500
1400
100
600
vi.li nil Cern.... BK
. Wlekwlre Spene Stl 13
, Willy Overland 754
. Wisconsin Central.. 3254
4 Werth Pump ft M.. 4754
7 Werth Pump A 88J4
l Wright Aero 11
18-
116
10154
65
48
3J4
1
54
54
t Kx-rllit.
top in crossing 70. Lehigh Nnv'M;
tlen remained firm nt TOW, despite
intimations of a hlleli in .the n"''1
cite proccedlnRB. Electric Sterages
nuuvi; im; previous Mile,
Banks Enderse
Credit Insurance
Representative banks in all parts of the
country recommend te their patrons this
great protective service for safeguarding
against bad debt losses. Here's what a
Big banker writes us:
"Under the present business conditions, I
would consider credit insurance mere ad
vantageous than any ether time in the
history of our country. I candidly think
that everyone engaged in extending credits
should protect themselves with a policy in
your (the American) company."
The Federal Reserve Bulletin for Junp contains a very
interesting and informative article en Credit Insurance.
Every Manufacturer and Wholesaler should read it.
We have reprinted it in pamphlet form, and will gladly
send you a copy free. Writc or phone us for it today.
Unlimited Policies. Alse Limited Policies at lower
cost.
Payment: ti Ptlicyhtldirs tvtr $11,000,000.00
AMERICAN CREDIT-INDEMNITY CO.
or NEW YORK E.M. TREAT, president
liSUia STANDARD UNLIMITCO POUCH!
W. J. MORPHY, Manager
J. F. McFADDEN, General Agent
1011 Chestnut St.
Phene Filbert SS03 Philadelphia, Pa.
gfeJiidlSJSSIcMSJlMeM
We Offer Subject te Prier Sale and Change in Prices
MUNICIPAL BONDS
Lancatter, Pa,, Scheel District.,
Wayneabore, Pa
Duller County, Pa
Legan Tewnthip
EQUIPMENT TRUST CERTIFICATES
Rate
..5',4
. .69'e
. .69'e
Erie R. R. Equipment
'Erie R. R. Equipment
Morgantown & Kingwood (B. & O.)
"Seaboard Airline Equipment .....
VilicicZc'Dile i'tatt.
STROUD & COMPANY
INCORPORATED
PHILADELPHIA
aifBJBIBJBigJ3M51BB5JMISraMBI?JBi31'B!i
Keystone Power Corporation
First Mortgage 6 Geld Bends, Series B
Due March l, 1952
Free of all Property Taxes in Pennsylvania
First mortgage, in the opinion of counsel, en
all property and franchises of the Company
new owned and hereafter acquired. Net earn
ings as officially reported for the year ended
June 30, 1922, OVER TWICE ANNUAL
BOND INTEREST CHARGES.
Price 96 and Interest,
te Yield About 6.30
Deicriptive circular gladly furniihed
MlMtlu &Ce.
Bread and Saniem Sti., Philadelphia
New Yerk Baltimore Pitttburgb Wnbingten
JImbra New Yerk. Philadelphia and PlttaUurnii Stock Eachanitt
Commenweaith Power
Corporation
6 Secured Sinking Fund Geld Bends
(Due 1947)
The company represents one of the
largest light and power systems in
the United States.
Net revenue for 1921 amounted te
ever 4 times annual interest charges
en this issue. '
Price 90 and accrued interest
te yield about 6.85
Bonbright & Company
437 Cheatnut Street, Philadelphia
Nw Twk - aofUe ( cWcme
'. A I-),"? .vrfrf(i
Today's tales . 969,000 sham kI
Vul.lii,li .anlita . I . . OOCI aAn .t... ) I
.;ius a ,.v.. .... ...vvv nwei
i?B .381
?e8n ,?vi;:
?
rally te -Hwns the feature of the nfiiV
neon trndlng. Yerk Hallway, t?il
ferred ran in; te 28 or !',(. Vlati'
Rate Yield
4 Js (A 4.000
tli'.c 4.10"r
4l.'r 4.Wr
4).'c 4.20' c
Maturity
Jan. 1, 1924
July 1, 1924
Jan. 1, 1934
1925-37
new Yerk
auit
m