jiwHFfrjf fwmfw m WWffWHi "Hi V W1 J - it Ml' GOSSIP OF THE STREET EVENING W3l0 lED0EBPHIIiAf)ELHi TUESDAY, ' SEJPTEMBEfe 26, 1922 J: ws n .it. imdlnir was Bererntd almost ielly at the beglnninic of the new week J. the continued disposition en the eirt of peels and speculative corablna cerablna corablna Sens te lliiuldnte their accounts, or duce their holdings. This liquidation kit been In progress for mere thnn a trk nnd Las been effective In offsetting itendy Incrensc In public demand, giv ing the stock market a test of Us buying power which, te far, has Indicated out eut git demand large enough te absorb all afferlnss nt moderate recessions. The tetter character of the Turkish news, Inrtlcntlns a peaceful wlutlen of the jfcnr HnBlern problem, had an in; fluence In causing advances In the early tredlnfi estcrday, but thece gains wcre elthrr reduced or lest befere the end if the ilnv, except In n few prominent lisuef le imperium nwveuieiiin nvw irally" occurred In the first half of the ir. nusiness In the late afternoon was largely professional and variations In that period were without special Im portance. Oils and Hath Favorites The Standard Oil Issues rcllcct a attsdlly Increasing following that new Includes many interests that formerly devoted nearly nil their attention te In dependent oil stocks and had much te de In developing the Industry In many of the largest producing fields. These luterrstH me mere bullish en stocks like straw and oil of New ' Jersey and Btandard Oil of California than of any of the Independent oil shares. Railrenl stocks are also spoken of U being In condition for Important nd Tincfi and te have favorable develop ment in prospect. Interests that 'are previously nctlve In Heck Island and were among the heavy sellers of that iteck lait week are said te hove turned te the bii)Ing stde again and te have resumed bullish operations. A strong group Is included among tbe heaviest Solders of this week and is basing pur chases en knowledge of the 'past nnd presneetltc earnings of the system, Baltimore and Ohie. Missouri I'eclfie preferred, and St. Paul were alie looked en ns having ndvances in prospect In tie near future. West Well Supplied With Meney Little change was shown In the money market in the West last week, banks continuing te maintain the geed vol ume of surplus which lias been In 'evi dence for icvcrel weeks. The partial carrying out of the favorable adjust ment of the labor controversy among railroads was influential in creating an Increntc In buslpess, although from the reports of traffic en the principal lines, sblpnlne of mt'ichandise nnd manufac tured product was of an enormous quantity already. It Is very apparent, however, that business Is being done in n mere con cen servatlve menncr, deflation practically being Rcrnmpllshed nnd the shiftless expenditure of ihency la new the ex ceptien, ns during nnd after the wari period. One of t he Improvement" in industrial and manufacturing lines is that production cost rue xnuluum being low phi, nnd in tln agricultural dis tricts til" iest of the ti hnrvest shows signs oeiisl.lerablj less than a year age. ije. ItilprfNt rates nt the larger financial centers in the West held Head at llj te li1" per rent en lellaterul, 4 te 4l,i per rent en commercial paper, and ," per rent ever tbe counter. Seme new offerings of i emmcrrlul paper lime been Drought out. but, en the who', the demand In bnnks for the purchase of such teiirlt In far in evcts of the supply. Interior banks reiwrt seim- ad ditional Inquiries for loons, especially In crop territory, but the facilities of the Geu'inincnt, in addition te the Fed eral ItfM-rvc banks, figure largely in taking cnic of kulIi requests without causing nn uneasiness. In the Southwest money continues in the cen trend of the last two weeks time lenn.s being made at 4& te GV4 per cent, with a few offerings of com mercial paper en n busls of 1 te 44 per cent. Collect Uhih continued fairly geed, deposits showing no material change. In the Northwest seasonal weather caused conditions in mercantile lines te reflect a meic normal situation, result In? in li.ink hearings showing -eme in in creeKC. What ouemniodiitions cre acienlnl bj hailing binls wire made ut Interest ratcb r.iugiug from 4 te SU. per cut. Call Dond Trade Excellent Tudglii" from the number of offer ings of bends of arieus kinds, the lall trade is excellent. Several issues taic been quickly eersubBcrlbed, it Is claimed, and there have been a number of miner offerings which have hh piled the total te substantial figures. Meney conditions nre icpeiltd satisfactory from an investment standpoint, accord ing te bnnkerN. Opium al business lins net broadened te an extent that limits the amount of funds nvnilnble for in vestment ns jet eppnicntlj, and ut cur. rent returns Investors are satisfied with investment conditions. Hentl l.eiiHes ippert n somewhat bet ter demand for I.ibrrt, Hends, owing tn the eici (Jf the Menus Hill. This removed enp of thp icstrlcthe influ ences mj fni as Government hsiies were cenceriipd, nnd there bus net been much disposition te liquidate this cla-s et securities. Feic'Ikh bends hue been given eon een eon muerable buving support In ppite of the unfavorable political trend in the ear l.nt. Met rover, the recent im provement In exchange intes mh tuken 10 lnil ente n Cel.l,. 1....1.I.. .,..... . i, v. ; : , " '"' in-nuii,, Miuniien. .in listed hrinilu tlmtA lu tms.A k...iM tpd s"veinl industrial issues made "new ' 1ln records for the jear. Street Extremely IhillUb The street is extremelv bullish in ntarlcet opinion and the belief prevails iill Important quarters that the new week will ,e0 ichumptlen of bullish jctijitits that will carrj the prices of "ecks generally te new' high levcla for the j ear. It is Insisted bv many of these twin lllltn horn, lli.n,lllj.,l ..I.I. I 'iien of stocks that from new en mar- i ueveiepinents will lie of a favorable character and that there will Iip nianv imnertaiit changes In the position of r.lllrenils mill Imlnutilnlu il,., .. m i.. I a , , .......... ...in ..l i.iii iiu , "fleeted In en'cntlul chenges In the sc luritj timllug situation, Special importance is attached te the njuine r in which Gulf States Steel is Ming bought. .. IT is..n ";r.,ll ""derstandlns that !?' Mrp"tn at thl stock is in ceiinec whL'i"' a "eurby "nneuncement by prominent pnbi len .,, the ,, ,illllllt X i. .Vrclne,r'' 1,l6h fifl,',,, ar """led as lC2l'inP?intB t0 lvl"ch thclr "X go In the near future. 'HIR TltADKU. CUBAN LEGISLATOR EJECTED ei!en BreuQht About by Attack en President Zayas iJn5rt,J?,.H.C.,,t'.?'-,"When ,l """"'A Ie, i 1,c .LeaM Hl" Hcpresentatlvn hit iSa .lrci,lt,cl,t Mn a,W the lean ,hl "'? "Wnnts at arms htd te eject 'w- After the Incident the Houw SSi i A.Jrret.i,",,?n' MelI te PATACCIO'S TRIAL NOV. 30 . r Italy Chnrflet" He Killed Twe Women In New Yerk Reme, Sept. 2fl.-Vlncenie Pntaccle, alias Frank Valluczi, who Is charged with the murder of two women In New l'erk In 1020, will be tried In Naples en November 30. t Pataecle was arrested In Mentone, rrnnce, shortly after the killing of Lena Fclnclll and .Tesephlnn Gentile, who were shot dulng an attach en Oiuscppc de Cesarl, n New Yerk barber. The Women were en Mulberry street when a .man emptied a revolver In their di rection and escaped befer6 a iwllceman could be summoned, nnd De ( esnrl was the target nt which the bullets u-ere aimed. Pataecle was accused of the, snoeting. He fled te France, where he was ar rested nnd brought In this country. The Government refused te permit his extradition te the United States en the ground he was net a naturalized Amer ican cltlten. ANOTHER BOOK ATTACKED Bosten Council Vete te Bar Helen Nlcelay't "American Wars" Bosten, Hept. 20. On motion of Terry Watsen, Councilman, who some tlme age launched an nttucl; en Web ster's Dictionary en the ground that It was pre-British, the City Council yes terday unnnlmeusly passed en order .re questing the trustees of the Bosten Pub lic Llbrnry te bar from tliclr shelves Helen Nlcelay's "Boek of American Wars." Watsen's order aiming at the elimi nation of the dictionary also was pre sented, but the Council voted te lay It en the table. The objection te Helen Nicelnj's vol ume, as expressed by Wntsen, was that thp author "falsified hlsterj and held the early patriots up te ridicule." Our Offices are connected by Direct Private Wire mlh important Banks and Bankers in the Cities ej Chicago, Illinois Cincinnati, Ohie Cleveland, Ohie Columbus, Ohie' Canten, Oble Dayton, Ohie Denver, Cole, , Erie, Pa. Indianapolis Ind. Kansas City Me. Louisville, Ky. Milwaukee, Wis. Minneapolis, Minn. New Orleans, La. Pittsburgh, Pa." St. Leub, Me. St. Paul, Minn. Sharen, Pa. Springfield, Ohie Voungstewn, Ohie Adequate Yield its relation te ether invest ment elements Overlooking intrinsic bend values for the sake of a point or se in the yield often proves costly te the investor. Security of principal, stability of income yield and marketability are ordinarily the chief factors te consider. A selected list of bends which possess the above qualifications and in addition give adequate yields will be sent upon application. W. A. HARRIMAN & CO. INCORPORATED 751 Drcxel Building, Philadelphia NEW YORK , CHICAGO BUFFALO SYRACUSE Eastman Kodak Company i Common Stock (Ne par value) CAPITALIZATION (Dec. 31, 1921) Preferred Stock, 6 Cumulative (Par 100). Common Stock (Ne par value) AtitliflrltH $10,090,000 2,500,000 shs. OutnUndlBC $6,165,700 1,968,620 shs. Earnings ana Dividends: Fer the last ten yeirs, 1912-1921, inclusive, net profits available for dividends have averaged $15,209,795 annually. After paying Preferred dividends of $369,942 each year, the Common dividends for the ten-year period have averaged $8,516,469 annually, and there has been carried te surplus an annual average of $6,173,383. The present dividend rate en the Common Stock is $5 per share per annum, payable quar terly. It is understood that earnings for 1922 are running in excess of these for 1921. Undistributed Surplus: As per Balance Sheet of December 31, 1921, the Company's surplus steed at $58,122,040. Since 1914, undistributed surplus earnings aggregating $45,000,000 have been reinvested in the property. Business: The business of the Company is in a specialized and highly lucrative field, and although its name and products have i world-wide reputation, the Company gives no value en its Balance Sheet te the item of Geed Will or Patents, the value of which is incal culably great. Listed en the New Yerk Stock Exchange We recommend this stock for investment. Price at the market Deminick & Deminick 115 Broadway, New Yerk Bernhard, Schelle & Ce. 14 Wall St., New Yerk The above information and statistics, while net guaranteed, arc taken from sources believed te be reliable. MJHMIIMW Millien Dellar Concerns Sell Their Accounts Receivable IIR1;I Yeu wouldn't think i! you have probably supposed that the mere irresponsible con cerns sell their nceunts te us rather than higher class Wholesalers and Manufacturers. The figures below Rive you an analysis as te the ratings of our Open Account customers in the January books of Dun or Bradstreet, and the respective volume of accounts they held us during 1921 en our "Ne Netico te your Debter" plan: Customers' Ratings Puichase.s Per Cent SI. 000.000 nnd ever S8.G77.413.65 20.3 500,000 " " .... 12,201,584.0!) 300,000 " " .... 10,738,072.60 125,000 " " .... 24,504,705.70 75,000 " " .... 20,411,835.60 20,000 " " 33,502,605.57 10,000 te $20,000 and under or no rating 9,219,269.55 Totals $42,781,935.12 Would veu have thought that mere than half of this volume came from concerns rnted J125.000 and ever? Certninly such concerns knew what they are doing. 36.1'J of the above Customers have an in creased rating in the January, 1922, Dun or lirudstrect's books ever the ratings they had when they began doing business with us. Tlijy have improved their financial etandim through the uhe of our service. Your busi ness is net different. 28.8 39.1 57.2 01.7 78.1 21.G nwi'i Commercial Credit Company Cash Capital and Surplus $7,250,000 BALTIMORE SAN FRANCISCO Represented at Philadelphia, 1210 Stock Exchange Bldg. (Phena hpruce 6314) Affiliated wllh COMMr.Bf IAI, ACCKl'TAN'CB THl'ST COMMKKCI.U. CRKOIT COMlWNT.Ine. Cash Capital and Surplui 1,800,000 Ciuh Capital nnd Hurplua W0O.0O0 CH1CAO0 WW OHLEAN8 IWIiWWIWlffiItifllWmlAfflnw NEW rSSUE $160,000 ' Town of Bloomsburg Columbia County, Penmjrlvania AVi Per Cent. Sewer & Improvement Bends Dated October 1, 1922 Intereit April 1 and October 1 Coupon Bendi $1000 each, with Proviiien for Registration of Principal TAX FREE IN PENNSYLVANIA Exempt from all Federal Income Taxes Ne Certificate of Ownership in Collecting Interest Required Legal Investment for Trust Funds in Pennsylvania FINANCIAL STATEMENT (an officially furnished) Actual Value of Taiable Property (estimated) . .$8,000,000.00 Assessed Valuation (1922) 0,700,185.00 Total Bended Debt (including this issue) $216,090.00 Less Sinking Fund 2,463.47 Net Debt 213,626.33 Ratioief Net Debt te Assessed Valuation 3.18 Per Cent. Population (Census 1920) 7,819 We offer these bends, if, when and as issued, and subject te approval of legality by Messrs. Townsend, Elliett & Munson of Philadelphia. MATURITIES JIO.UOO dut Uct. 1, J933 (fli iej.si ' jio.eou due Oct. 1, 1S41 105.24 iu.uuu ana uci. i, ij W iuj.e 10,000 doe Oct. 1, 1935 104.00 , 10,000 due Oct. 1, 1936 104.23 10,000 doe Oct. 1, 1937 104.45 10,000 dua Oct. 1, 1938 104.66 10,000 da Oct. 1, 1939 104.86 10,000 da Oct. 1, 1940 10S.06 10,000 due Oct. 1, 1942 105.42 111,000 due Oct. I, 1943 105.60 10,000 doe Oct. 1, 1944 105.76 10,000 doe Oct. 1, 194S 105.92 10,000 due Oct. 1, 1946 g 106.07 10,000 da Oct. 1, 1947 106.22 10,000 da Oct. 1, 1948 106.36 Accrued Interest te be Added Prices: Te Net 4.10 Per Cent. Biddle & Henry Harrison Smith & Ce. 1 04 Seuth Fifth Street 1 2 1 Seuth Fifth Street Philadelphia Philadelphia Th Information ami tatUtli icutaltinl herein I)t hem obtained (rem tuurces hlcl e If Here te be reliant. All of thf Ctrtifteattt having bttn told, thU adverthement appears at a matter of vcerd enly New Issue $725,000 Chicago, Indianapolis & Louisville Railway Ce. 5 Equipment Trust Certificates, Series "D" Te be issued under the Philadelphia Plan Te be dated September IB, 1922. Te mature $24,000 semi-anuually March and September 1, from March 1, 1923 te March 1, 1935 inclusive; and $25,000 semi-annually from September 1, 193B te September 1, 1937 inehuive Dividends payable March and September 1. Principal and dividends payable in New Yerk City. Certificates in bearer form in denomina tion , of $1,000, with privilege of registration as te principal ' THE NEW YORK TRUST COMPANY, TRUSTEE These certificates are te be issued in part payment for standard railroad equipmf nt con sisting of 300 Gondela Type Steel Underframe Ceal Cars, 3 Pacific Type Locomotives. 4 Mikade Type Locomotives and 4 All-Steel Passenger Coaches. The total cost of this equipment is te be approximately $912,050, of which $187,050, or approximately 20rc, Is te be paid by the Railway Company in cash. The title te the equipment is te be vested in the Trustee 'under lease te the Chicago, Indianapolis & Louisville Railway Company at a rental sufficient te pay these certifi cates and the dividend warrants and ether charges as they become dw. The Chicago, Indianapolis & Louisville Railway Company will unconditionally goaran gearan tee by endorsement en each certificate the prompt payment of the principal and divi dends of these certificates. The Chicago, Indianapolis & Louisville Railway Company, operating the "Menen" route, is jointly controlled til rough ownership of a majority of its preferred and com mon stock by the Louisville & Nashville Railroad Company and the Southern Railway Company, affording these reads direct connection te Chicago and the Northwest. Prices March 1 and September 1, 1923, te yield 4.50 ', March 1, 1924 te September 1, 1925, inch te yield 5.00; March 1, 1926 te September 1, 1937, inch te yield 5.05' ,' Accrued Dividend te be added in each case. , This issue has been approved by the Interstate Commerce Commission. We niter thou" ertlflfnte at tlie bev prier., mbject t le 1iiii n nnd If i.mi nn-l rcielvril by u and nubjert te th npprOTal of nur ceiiumI, JIeir blwarmin . SUrllriu, ia te IpriI iniitteri Clark, Dedge & Ce. Established 1847 51 Wall St., New Yerk 790 Bread St., Newark lh aboTe tnfoimatlen I. net guaranteed, but he been obtained from m ir no bdiMc te be niuraf Harrison Smith & Ce. 121 Seuth Fifth Street Philadelphia Netice te the Helders of the General Mortgage 4 Geld Bends of Reading Company and The Philadelphia & Reading Ceal & Iren Company The Supreme Court of the United States in a suit te dissolve the relation existing between the said Companies and ethers and te separate railroad properties from coal properties, has directed the United States District Court for the Eastern District of Pennsylvania te approve a plan for such dissolution and disposition of properties. The District Court is directed te sever the interests and joint obligations of the Reading Company and the Ceal and Iren Company; te determine the respective values of their properties which are covered by the lien of the said mertgage: te apportion the liabilities of the said Companies and the liens upon their respective properties according te the values se found, and te determine what, if any, injury te the bondholders such modification of the terms of their debt and mortgage may cause and te compensate therefer by payment. It is regarded as most important that the bondholders should unite in order te be represented in Court in the said proceedings, te the end that the plan ultimately approved by the Court may preserve and protect their rights and interests. With this object in view the undersigned Committee has been formed and has, by order of the District Court, been made party te the said proceedings and authorized te appear as representative of the holders of the said bends. Copies of the Deposit Agreement may be obtained from cither J. P. Morgan & Ce.. 23 Wall Street, New Yerk City, New Yerk, or Drexel & Ce., Chestnut & Fifth Sts, Philadelphia, Pa., the Depositaries, or from the Secretary of the Committee. Helders of the said bends are requested te deposit their bends immediately with one of the said Depositaries. The Depositary receiving the bends will issue a transferable certificate of deposit in respect te the bends deposited. All coupon bends should have attached thereto coupons maturing en and after January 1st, 1923. Registered bends should be accompanied by properly executed transfers in blank. Tbe certificates of deposit have been listed en the New Yerk and Philadelphia Stock Exchanges. In order that these who have been prevented by the intervention of the vacation season from depositing may have an opportunity te de se, the time for depositing bends has been extended te December 1st. 1922. JAMES M. W1LLCOX, Chairman. i i c PreMdnnt The rhllndnlphia Sa,ns Kuwl Seclt ) Philadelphia, Pa. GEORGE W. DAVISON il'iepidcnt. Central Union Trun Company of Nnw Yerk) New Yerk City, N. Y. WILLIAM A. DAY (President, Kqultnble Life Assuranc Society of V S ) New Yerk City, N. Y. EDWARD D. DUFF1ELD ( , p.Prrsldpnt. Prudential Insurance Ce. of America) Newark, N. J. LOMMinT.i: WILLIAM P. GEST ( I'rcBldent. Ftdeiltj Trust Ce ) Philadelphia, Pa. E. B. MORRIS ( President Olrard Truit Ce) Philadelphia, Pa. C. S. W. PACKARD i P-rMdent The Pennsylvania ( enipany for Insurances en I.hes and ("iranUm? Annultls) Philadelphia, Pa. ASA S. WING (V cnle-nt, rreMder.t Trut Ce ) rniiuaeipiiia, I'a. J. P. MORGAN & CO. Nnw Yerk City, N. Y. DREXEL & CO. Philadelphia, Pa. Deposit! A. S. FENIMORE Secretary 700 Walnut Street. Philadelphia, Pa. HENRY, PEPPER, BODINE & STOKES Counsel Philadelphia, Pa. Btltissera Elcc lit Si, 1947 Menoeiksla Valley friction 5i Rtsding Tsrminsl lit 5i. 1941 Penn-Mtry Ceal Si, Oct., 1939 LtMfh & New Yerk 4i, 1945 Ntw Yerk "Connecting 41:! Bridtn Copper 6i, 1931 Wsit. N. Y. & Penns. Si, 1937 EUctric Peeplei 4i, 1945 Pkilidtlinit Else, lit 5i Empire Gsi A Fuel 7 Mm Grand Rapids & Indiana 4'zi Jiffenoe Railroad SVat, 1929 Western PenmyWsnis 4i, 1928 ISAAC STARR, JR & CO. 16TH It Siniem Strcttt PHILADELPHIA Mtmlnts Philadelphia HlerK f'sihanut .tw Yerk Cotten Knhanae Supervised Securities Yielding Seven Per Cent. The R. L. Dollings Ce. "Builders of Butneit" Philadelphia Columbus Indianapslis 1421 Walnut Street .svMrtEEDTElV v FH1 EHPET ROOFINGMFG.CO. . EHRET& SLAG . PENNA. TAX-FREE BONOS PAUL & CO. Mrmhrr Phlla. Sterk Exihanie 1421 CHESTNUT STREET W Pa Net Carry Marslnnl Account. Wm. Steisus & Sefxs Ce. ABCurtEcrrS'KNuueuats cuMfrnvcreas ROOFER'S WOOD Cord Weed Selected Fireplace Weed Wholesale Only ROGER H. CLAPP 4 CO, Aralnere, Pa. r naaaamr m Bmm, Ml v JM m j'i i 1 i m :.f ?t . KMfj MZ ,1 ;'..,, r 1J t
Significant historical Pennsylvania newspapers