" ...Tf?.?; kV" l' ""
ra"'1
TPFfF
isrrfiffl
,"WV
I'.iiJ
w y
, H l V-Jf V..-M ,Vh J
m
. ''Wl
ikv;
. .i.
i
24
EVENING PUBLIC LEDGER PHILADELPHIA. WEDNESDAY, OCTOBER 18, 1922
VS.
"-- -fij ifp",q-&&:V, 7J
t '
re-.
?
i
B'
t
I
,:
J!
B.
i
$
m
i
'fl'f
ia
City Of
Philadelphia
Improvement 4 Bendi
Due 195!
NON-CALLABLE
Tax free In Pennsylvania
and exmpt from all
Federal Income Taxes
Mf 101 and interest
yielding about 3S35
Consular em rwf
TheNatienal Gty Company
1ilaelphla 11T Cheetnut St.
Atlanta Cltr Chalfonte Black
1238 Boardwalk
MORE F
E
WORKS
INJPECIALTIES
Further Remarkable Bullish
Demonstrations In All the
Hlgh-Prlced Stocks
Questions Investors
Have Asked Us
Is the title of a booklet
we have prepared which
lists practically every
question that might be
asked about securities
and the general subject
of Investment.
Answers te these ques
tions are given In a way
which can be readily un
derstood by these who
are net intimately fami
liar with financial terms.
A complimentary copy
of this booklet will be
sent en request
Hemphill, Noyes C& Ce.
Majnear. Ntw Yerk Steel Exehmr)i
Franklin Bk. Bldg., Philadelphia
New Yerk Pttttburgh Boeten Bcraatea
LMAnietee Albany Syracute Baltimer
WUminitea Bridgeport
New Yerk, Oct. 18. Operations and
price movement In teddy's stock mnrket
furnished llttle In the wny of novelty
from the performances of the Immedi
ate preceding sessions. The jjencrnl list
remnlned in the snme highly churned
condition n? result of further sen sen
sntlennl upblddlng of the high-priced
specialties mid the continued irregu
larity of the mnln body of storks.
As n matter of frtct, for the most
part of the session the mnrket became
one In which prnctlrnlly the only deal
ings of nny consequence were "in the
hlgh-prlccd stocks. Most of the Issues
prominent In the morning trndlng were
these with quotations ranging from
above $100 te far above $200 n shore,
making stocks that In former times
classed as rich men's luxuries seem
cheap In comparison with the range of
prices of this same category prominent
In the current wild speculation.
The widest movement In the early
dealings wns in National Blcult, which
rose ever 17.jelnt In the first fifteen
minutes: followed by a jump In United
Fruit of OMj points and 7 In Ameri
can Tobacco. Te this could be added
a 6 1-5 point rise in General Electric
1"4 in American nnd Baldwin locomo
tive; 8 in American Car and Foundry;
1 in Lerillnrd; 10 in Liggett A Myers;
0 In rishcr Bedy nnd 3 in Atlas Powder
and International Harvester.
In the meantime the Mexican oils
rave another exciting acrobatic stunt.
Mexican. 'Petroleum after a drop of
ever H points te I!22, suddenly started
te sear again, running up 11 points te
a new high record for the year at 233.
There was slmiler wide llurtuntien in
the l'nn American Petroleum Issues.
It was a market In which It would be
difficult te truce the slighted associa
tion with outside conditions, ns the
eyes of the speculative world for the
moment nre completely hypnotized by
the gsudy Industrial Rteck dividend ilag.
The appetite in this connection was
whetted by the overnight announcement
of two additions te the list of Standard
Oil concerns which have moved In the
direction of capitalizing surplus. Va
cuum and Ohie Oil' each announced
stock dividends of 300 per cent, nnd
with n reduction in pnr value te $2e.
NEW YORK STOCK EXCHANGE TRANSACTIONS
Only Afternoon Repert in Philadelphia Quoting Full Lltt
Dlv.
Bali in I
100
50
100
Commodity Markets
Public Utility
Bends
There are ever fifty
Public Utility issues
listed in our Bend Cir
cular. They mature from
four months te forty
years and yield from
4 te 7.
Ask for Circular F-ll
Harris, Ferbes & Ge
Pine St, Cor. William
NEW YORK
PHILADELPHIA OFFICE
Wldener Bldg.
Telephone Spruce 7040
GRAIN MARKET
Chicago. Oct. IS. The wheat mar
ket opened Irregular at 4c decline te
Hc advance and early In the day de
veloped a reactionary tendency ns'lengs
j were disposed te tnke profits, owing te
I a peer response in Liverpool te our
advance and fears that the mnrket hud
become overbought. The Liverpool
'market opened ld te 2d higher, but
at 2 P. M. the late positions wcre oil
l'-jd from the Initial figures nnd the
whole list was H-d te l:Hd net higher.
I Transportation conditions were net
changed and exporters declared that
sales of moderate quantities of wheat
1 had been made te the Ceitinent over
night. J Cern started Uc te nc loner nnd
ruled heavy under active profit taking.
, Oats were unchanged te ec lower
in sjmpatny witn ettier mnruets.
Previsions wera steadier en decreased
stocks end an advance of 3d in Liver
pool lard.
Cern Prev. close Onen
CSH C 0SH
100
500
100
eoe
300
3200
00
600
100
300
5200
100
900
300
100
100
100
700
300
400
100
200
2900
500
100
1600
4400
700
200
200
300
600
200
100
3100
5700
1C00
400
2400
200
300
100
1700
700
100
2500
200
100
100
100
500
1330
. 300
400
4J0
100
100
100
14700
1700
100
9400
930
stock Rich
Adams Express.... B
.. de Odd Lets CO ft
. . Advance Rumely.. 10H
5 Advanes Rumsly PC 54
.. Ajnx Rubber 14ft
, . Alaska Juneau O M 1 '
Allied chem ft Dye. 85 H
7 Allied Ch Dye ptllS
' Allls-Chalmer 52 V
.. Am Agrle Chem.... 37
Am Besch Magneto. 42V4
4 Am B Sh Fdy new.. 81
.. Am Drug Syn 654
. . Am Can 724
7 Am Can pf. ....... 1104
12 Am Car ft FaY? . . . . 1 95
7 Am Car &Pdy pf.. 122
.. Am Chicle 8
.. Am Cotten Oil 26 W
Am Hide ft Leather 13
.. Am Hide ft Leath pf 73'i
7 Am Ice 113
.. Am Intemat Cerp.. 36ft
7 Am La Fr Ena- pf..100
.. Am Linseed 40U
6 Am Locomotive . . . . 1 36 "4
3 Am Metal 50H
4 Am Radiator 121
M Am Safety Razor.. 7ft
.. Am Shin ft Cem.... 24 Va
Am Smelt 63ft
7 Am Smelt pf 101ft
:i Am Steel Foundries 44 ft
7 Am Steel Fdys pf..105U
. Am Sugar Kef 80 H
. Am Sumatra 39
5 Am Tel ft Cable 62ft
9 Am Tel ft Tel 124ft
.. Am Tel & Tel rts... 4ft
12 Am Tobacco 1 67
6 Am Tobacco pf newlOB
12 Am Tobacco B 1634
. . Am Waterworks ... 27 4
.. Am Watrwka 0 pf S3 ft
7 Am Wetrwks 7 Pf 80
7 Am Woolen 102ft
.. Am Zlne Ld 4 Smelt 19H
Am Zinc Ld & 8 pf. 54ft
.. Anaconda Copper.. 53 H
Assets Realization. . 1ft
4 Asse Dry Goods.... 60 a
t Asse D Goods 1st pf 85 i
7 Asse D Goods 2d pf 90
fi Asse OH 1 25 '$
0 Atch Tep & San Fe107(4
7 Atlantic Coast Llne123ft
. . Atl Gulf ft W 1 S 3 31 U
12 Atlas Powder 168
. Austin Nichols 3D "4
7 Austin Xlche 8 pf 85
Aute Sales Cerp... 3
7 Baldwin Locemotlve142?4
Baltimore & Ohie.. 56
4 Balte & Ohie pf.... 64
. . Barnsdall Class A.. 39 H
Barnsdall Class B.. 24ft
100 48c Beechnut Packing.. 43
800 G Beth Steel B 77
200 8 Beth Steel 8 pf..113
100 Brit Em Steel 14
1400 8 Brooklyn Edisen. ..123 a
500 . Bklyn Rapid Transit 17
600 Bklyn R T ctfa 15?.
603 s Bklyn Union Gas...l18ft
100 In Burns Bres 1354
830 J Burns Bres B 43
100 7 Bush Term Bid pf.. 98ft
1330 . Butte Cep & Zlne... 74
ad 300 Butte & Sup Cep... 34
100 0 CallferMa Tacking. 834
500 . California Petrel... 64ft
30O . Cm Zine and Lead. 8ft
2300 ie Curadlan Pacific. . .1494
100 . ecntrat Leather. .. 41
7F200 Ccn Leather pf... . 79H
1900 . Ccrro-de-Pasce . .. 41ft
100 0 Chandler Meters.. 634
2400 4 Chesapeake & Ohie. 77
300 GU Chesapeake & Oh pf105
Dc
1 .May
July . . .
V.ftt-
Dc. . . .
i May . . .
1 July . . .
I Cat
D, . .
I Majr
IJulv
i lire
i De. . .
I.an!
Oct.
Jiin.
IJrtdgMeKRgrlii
Wa With te Buy
Bedford Belt
1st 5s, 1938
Suffolk & Carolina
4st 5s, 1952
F. P. RiBtine & Ce.
Widenir Building, FhiUdelpkia
JTw Yerk EUibti. U. J.
Utmburt .Vete Tcrk and rhilaiitinlHa
Stock Exchanges
Sinking Fund Netice
Th,
Curtis Publishing Company
87e Preferred Stock
83S
13 li
U!.
1.15i
1.1. I'll
1 OSS
B
40"
10 7.1
I) 47
1 1SH 1.15
W 1 1.1
1 13
l.OtJ
.m
& 1 03',
434 n
43 3
;
43V-,
42.
il en sie t7
15 M.
U7T,
119
1 151.
1 13S
1.05H,
42S
3P.
07
COTTON MARKET
New Yerk, Oct. IS. The cotton fu
tures mnrket had another firm active
opening today, at advances of 12 te 21
points en first f-ales, due te geed cebles
and continued bullish conditions in cloth
circles. Liverpool, the trade and New
Orleans interests, with commlsnien
houses, were large buyer. The Seuu,
was the chief seller.
Business continued after the sturt
and, at the end of the first fifteen min
uates, th list uns about 10 te 12 points
above initial levels.
l'rrvleui 12,00
I IO-XS
October .
Nemhr
Jan-iiiry ..
Ihruarr .
March
May
July
ia 01C23 ea
2 SS'h 22 00
23 fin ft 23 05
22 HHB23 00
22 70
Orn Noen
22 67
23 Od
23 13 23.3(1
22 OS 23 Id
23 13 .
23J(1 23 27
23 10 23 20
22.82 .
, NEW YORK COFFEE MARKET ,
I New Yerk, Oct. 18. Coffee futures I
' opened unchanged te 2 points higher
this morning without transactions en I
the call. !
Prrsr. ciobe Opn
Januury
Marc ') . . .
May
July
i:u.
6.1830 17
u 1.'
0 04 0 05
8 00 80 00
8 7S
8.3H
S 13
9 10
8 85ft 0 On
b 7BVJ8.S.'
euas.'j.- i
I
I
LONDON STOCK MARKET
Business Less Active and List I
Checkered Oils Drooped
Londen, Oct. 1 Business in I
securities en the stock pxchang" waa
less active tedav nnd the markets were '
checkered. In Grand Trunks, thre ap-
peuri'ii iu w it muni uumiuent reeling
Netice Is hereby given that there Is ' following reports ubeut impendinir con.
available In the Sinking Kund JJ40.200 cessions te the junior shareholders bv '
"I, ?r ,he above stock ,. Canadian Government. I
suinrlent te exhaust the amount In the m-uii i,..ini. i, .., n
Unking fund at a price net te excied , U hi '" 'J", ,i' T,nlU , wer,
1110 per share ajid accrued dividends firmer in the main. Dellar descriptions '
for sale and delivery as of November w,'n' 1'liet and unaltered. Jtenewed I
SO, 1922, will be received until Novem- buejancy was noted in Argentine rails'
ber 20, 1022. en bilng for investment aceeiint. The
' TJ. r..-: D-tl f r eU 're,I Vns negiecteu umi drooped.
Ine lurtis Publishing Company "epi uutcu was .tjh, sheu Transport
C. H. Ludintrten, Vice ftesldcnt. T rrn(JlllB 4 r'-1U' nnd -M'enn Eagle
rtttadelphia October 18th 1922.
Ltkt Shere Electric Ce. S 1923
Milvr. Lt. Ht. & Tract. Ce. lit Si 1929
E. St. Louii & Inter. Wt. Ce. Si, 1942
Pkil. & Gtrrctif'd St. Rwy. lit Si, 1955
Cel. & Menteur Elect. Ce. 2nd Si, 1943
lad. & Nertbweit Tr. Ce. Si, 1923
Luiernt Ce. Gi & Elect. Ce. 7i, 1943
U. S. Public Semce Ce. 6i....927
Clarien River Power Ce. 6 J. . . . 1947
Samuel McCreery & Ce.
Utmltra Phttti. Stock Kjcftaj
Franklin Bank Building
Suruco K07II
V4 .
(Jilt-edgel investment Issues were1
dull nnd easier. French leans were
inclined te sag en advices from 1'arN.
In the Industrial department, cheerful-I
ness wns noted in spots. Hudsen's
Hay was 8 3-10.
Fresh advances in the crude article
led te renewed buoyancy in rubber
shares. Kaffirs were Idle and flabby. ,
Liverpool Cotten I
( Liverpool. Oct 18 Thern viaa 1 bett.r '
dimnnil tnr Biet cutten today and an tm
I iirevil bU3ln?a wai den cm tin basin of an
aihaii'11 et 31 points for mlddllnir at 13 74d
I The u1ps were 10 l)f0 bale -h recelMM
were 21,0.0.1 bales. Includlnit 2U.800 bal.-i I
An.rriran. I'lKurei were steady In the early
' deiillnea fcnet pricen nere Amelcim, nild-
' iwinK ,air- f,.e-,'i min nuaaunir. in.nn.1
100
100
100
20D0
2200
1900
200
1330
100
100
1700
300
100
100
3400
100
2000
500
100
400
13J0
8000
200
3C00
2800
3800
4330
4300
100
100
100
4500
100
830
100
4800
100
100
2400
3200
100
Z 100
103
100
300
200
2900
100
2000
100
100
9500
3700
300
6400
100
1500
2200
200
8200
100
100
100
100
100
100
100
13600
600
100
400
200
1000
100
100
100
1200
100
100
100
200
100
30
100
loe
400
100
Chicago & Alten 2J4
Chi & E 111 (new) pf 61 ?i
Chi & Gr West pf 15 -
Chi Mil & St P 32ft
. Chi M & St P pf... 51 ifc
5 Chi & Northwestern 93 'A
4 Chicago Tneu Teel E5Vj
. Chi R I & Pac 45
1. Chi It I & Pc 6Tc pf 91
7 Chi R I ft Pc 7 pflOO!-,
. Chile Copper 26
. Chlne Copper 29 U
. Cluett-Peabody 63 U
7 Cluett-Peabody pf. 101
4 Coca-Cela 81 H
3 Cel & Southern 49 H
C Celum Gas & Elce. .110
Celum Graphaphene 2'a
46
. 46 H
. 41 Ti
1421',
. 10J.
96 H
19
. 37 'A
. 85
. 1GI,
. 25
31 H
.102
4 Cem Solvent A.
Cem Solvent B .
""onsel Cigar . . .
S Consolidated Gas.
Consel Textiles
Continental Can
I Cem Products Ref U6!J
4 Cosden i Ce ... 49 j
Cosden & Ce rts. . . . 1 ?,
. Cruclble Steel 89 H
Cuban Am Sugar. . . 23
Cuba Cane Sugar... 14
Cuba Cane Sugar pf 38 M
Davisen Chemical.. 44 '-J
i Delaware & Hudsen! 38 U
r, Del Lack & West... 141
5 Detroit Edisen 113
" Pome Mines 40(4
S Du Pent (E. I.) Ce 162yi
0 Du Pent G deb pf 88
5 Eastman Kodak new &7!
I! Elec Storage Bat... 57 U
Hilt Hern Ceal...
Elk Hern Ceal pf . .
1, Kndlcott-Jehnson .
Erie
Erie 1st pf
2 ExchanKe Buffet..
8 Famous P'ayers L.
5 Famous Players pf.10314
10 Fisher Bedy 1491,
8 Fisher Bedy of O pf 95 H
. Flsk Rubber 13
.. Freeport Texas.... 75 4,
i Gen Am Tank 74
; Gen Am Tank pf . . . 105
General Asphalt f5'j
D General Asphalt pf 96
t, General Cigar 82!,
S Gen Electric 189
Gen Elec Wl pf . . . 11
. General Meters.... 15i
6 Gen Moterti deb 6 84'2
Glmbel Bres 44 j
7 Glmbel Bres pf.. ..102',4
Glldden Ce 13
Goldwin Plctures . 7'4
Grnnby Mining .
Gray & Pavls . .
7 Great Northern pf .
4 Grt North Ore ctfa
Guantanamo Sugar
Gulf Mobile & North !GK
Gulf Mobile & N pf 46
Gulf States Steel. .. 91 1$
"7 Hartman Cerp... 85
:i HemcBiaKe .umum, it.
. Hendee Mfg
a Hudsen Moter Car.
Housten OU
Hvdraulle Steel....
7 Illinois Central...
C 111 Cent pf A.. .
Indlahema Itcf. . .
10 Ingersal nana ,
31 M
95J,
38'i
12
23
21 U
86
. 6',
.114J&
.1151,
. 4
.200
Inspiration Cen Cep 39
Inter Cen Cerp...,
Inter Cen Cerp pf .
Inter Rapid
300 2'-j Internat Cement..
OO " Inter com e.ng
2500 G Int Harvester new
100 Int Mer Marine..
100 0 Int Mer Marine pf
1K03 Inter Nickel
000 . . International t-uixjr ej
7500 .. Invlnelble Oil Cerp. 17H
1000 .. Iren Products 52J4
4
1
27 U
.32H
27'4
112H
15
61 li
17W
Lew
Bl4
80 ft
1BH
94
14)4
1V4
84
1144
50)4
37
42 K
81
6H
70 H
1104
192
122
e4
26H
13H
724
1 1 Z ,4
36)4
100
40
135
49 H
121
7T4
22
63
101 U
44 H
105
00
39
62)4
124
4)4
161W
106 J
159
27)4
52
90
10l
16)4
54 Jt
U2K
1)4
60
85)4
90
14
107U
123H
30 H
163
J5U
85
3
140i
55 i
64 H
38 H
24
43
76)4
113
14
122
17H
15
118
135H
47)4
98 y.
7
33 Ji
e3SJ
621,
8T4
149
41
79 i
40 1 4
63 H
76)4
104? a
2'i
61?4
15
32)
sew
92 H
85 Vz
44 7,
91
100)4
25
29)4
63 U
101
80
4914
109)i
2)4
46
46 H
41
140
10T4
95
124,
49),
1H
88
23
14
38 Vj
42!,
I38!
13914
113
39)4
1C2?4
88
6S
56 54
19H
37 U
05 M
10 ',,
25
31
101
103 5;
95 h
13
68
1037,
'3
96
te?:
1 83 V
II 15
84'.
44;
102!,
1354
7)i
M54
94 4j
J8J4
12
15
46 J4
90 '4
85
T:
j i
1
ac
6)..
"4Ji
115 !',
V'
206
39
);
1
27 u
32 H
d7
109
15
617',
16
62 H
16J,
51
&
Ket
Cri.
'4
V
811
80 H
18H
04
1414
in ..
84 4-114-51
-37
-42)4
81 1
6J4
71)4
3
122
8K ..
?6H
13K-
73)4
U2J4-
36)4
100 40
135
50
121
7)4
224-
63
101 14
44H
105)4
80 V- Va
394 1
62)4 V
124 Va
4)4 !4
165)4 3!i
108 194
163K 54
27 J4
52-2
90
101 H- )4
19 - 14
54)4 Va
524 - !4
1)4 ..
60 H
85)4-
90
124)4
107)4 123?4
304 -166
35)4-
85 -3
-
141)4
55)4-
64 H
39 -24)4-43
-
7694
113
14
122)4
17)4
154
118
135H
48
98)4
?
33J1
834
63 -
814
1494 Hi
94
'l
le
' ' 14
5
4
'4
Vz
4
a
1'4
li
1)4
i
,A
4
Va
4
154
V.
41 -
79H-
40H -C394
76)4
105
2J4
-32)4
--85)4-44)4-91
-
100)4
26 J-
29)4 .
63)4
101 2
804
49)4 ..
110
2)4
46-2
46K
41 140)4
lOJ'e-
95)4
1254
49J4-
1H
88)4 1
23
14
38)4-
42)4- 2
1 38 A -:-140)5-113
40
1624-
88
66)4-
56 94
'9 -
37)4-
85 94
16!i
25
31 -101
)i
103 94
148 -f
95 9i
13
244 .
72)4 4)4
105 1
03- y.
96 -82
188)4
11
1 5 ',
84",
44 9b
10214 3194
119,
94 94
J8J4- n
12 )i
16)4 194
4694 194
90)4- li
85 a
72
23 -21
-86
-614
114),
115)4
4)4
200 39 -
!4
194
Va
Va
4)i
Va
4
115
44
94
'4 i
1
1
27(4
32 94 .
27 -112
15 -61)4
17
62 94-
17 J-
51 -
1
i
'
294
'a
H
94
H
'a
1
. . Dlv.
"' in I STOCK niah
1100 .. island Oil 94
300 .. Jewel Tea 20)4
900 4 Jenes Bres Tea 5294
200 .. Kansas Gulf 24
100 4 Kan City Se pf.... 57)4
500 .. Kayser ft Ce new.. 46)4
1200 .. Kelly-Sprlnifteld .. 44
2200 .. Kcnnecett Copper.. 35)4
7400 .. Keystone T II.... TV
900 .. Keystone rights
?? 7 Kresge S S 182
100 7 Laclede Gas of 8t li 90)4
,100 .. Lackawanna Steel.. 84)4
4400 3Vt Lehigh Valley 71)4
300 2 Lee Rubber 26)4
900 12 Liggett & Myers.. 235
'000 3H Mma Locomotive... 61)4
2600 .. LeeWa jne 22)4
'00 1 Left Cnndy 12)4
2800 12 Lerlllard (Plerrs)..176
200 7 leulsvllle Nash.. 1434
200 .. Mack Truck 58)4
200 .. Magma Copper 33 94
4100 .. Malllnsen Ce 35)4
100 .. Manatl Sugar 43)4
2300 2 Manhat Shirt 49 9
200 7 Manhat Kiev Guar. 55
200 6 Mar St Rwy pr pf . . 69)4
500 4 Marland OU 284
1000 2 Martin Parry 294
100 .. Math Alkali 49)4
1900 .. Max Meters Class A 554
1200 .. Max Meters Class B 17
700 1 Mclntyre Mining... 18
100 8 May Dcpt Stores. . .1374
46700 12 Mexican Petre'.cum.233
3500 6 Mcx Seaboard 18 94
200 6 Mex Seaboard Oil ct 17
100 2 Miami Copper 28(4
2200 1.20 Middle States Cerp. 1394
1000 .. Mldvale Steel 34
100 4 M St P ft S St M. . 74
2400 .. Me Kan A Tex (wl) 174
200 .. Me K & T (wl) pf. 4D4
100 .. MeKnn&Tex fpd 38
100 .. Missouri Pacific... 2194
200 .. Me Pac pf 60)4
3400 .. Montgomery Ward. 224
200 1 Moen Moter Car... 17
200 H Mether Lode Mining 10)4
100 .. National Acme 15)4
5300 7 Nat Biscuit 245)4
100 7 Nat Biscuit pf 125
100 .. Nat Cleak & Suit... 59)5
100 .. Nat Cen & Cable... 1 H
4000 .. Xat En & Stamp... 67 94
100 7 .Vat En & Stamp pf10294
200 .. Nev Cen Copper.... 15?4
800 .. N V Air Brake 40J5
7000 5 N Y Central 100),
100 6 N Y C & St LeuIb.. 90Je
8330 . . Xcw Yerk N H & II 324
200 2 New Yerk Ont ft W 25
200 7 Norfolk & Western. 1 22
630 C North American 97J4
100 3 North Amcr pf 4694
9700 5 North Pacific 9
100 .. Ohie Bedy & Blewer 64
300 .. Okla I'red & Ret... 2'
2830 .. Orpheum Circuit... 26)4
100 .. Otis Steel 11
530 2 Owens Ret Mach. . 3994
100 5 Pac Gas ft Elec... 85(4
200 . Pacific Pevel Cerp. 294
23800 3 Pacific Oil 57
38500 6 Pan Amcr Petrel... 95)4
29600 C Pan Amer B 9394
100 Panhandle 2)4
10.13 2 Pennsylvania R R.. 48J,
1830 .. Penn Seaboard Steel 5
200 S Peeples Gas Chicago 96)4
930 .. Pere Marquette.... 38 Ji
503 2 Phillips Pet 52).
400 3 Philadelphia Ce.... 42),
100 .. Plerce-Arrew Moter 14
100 . Plerce-Arrew Met pf 35
100 . Pierce Oil 6'5
200 .. Pierce OU pf 46'
200 la Pend Creek Ceal... I9J4
2300 S Pestum Cereal 120
200 4 Plggly Wlggly Stere 43 Vt
1100 .. Fltts Ceal 60'i
200 C Pitts Ceal pf 100
25B00 Producers ft Ref... 4915
3C0 7 Preducets & Ref Df. 4f
300 5 Perte Rice Tobacco 76
600 f. Pub Ser Cor of N J 96 Ji
200 S Pub Ser of N J pf.106',4
6100 8 Pullman Ce 13415
100 Punta Alcgre Sugnr 47
100 2 Pure Oil 30)4
200 g Railway Steel Spg..123
100 . Ray Cen Copper... 14),
2700 4 Reading G04
iuu . iiemniKiun iypew.,- je'-j
100 . lleplegle Steel....
200 . . Rcpub Irerl & Steel
100 .. Republic Meters...
100 3 Reynolds Teb B...
1000 4.13 Royal Dutch N Y.
33 94
5994
?!i
58)5
58 )i
r994
200 . . St Leuis San Fran .
400 .. St Leuis S Fran pf. 50 Ji
2100 . St Leuis Southwest. 36)5
2330 St L Southwest pf . . 57
100 .. Savage Arms 19!4
100 . Saxen Moter 4
100 Seaboard Air Line. . 7
3100 . Sears-Roebuck .... TOJJ
100 7 Sears-Roebuck pf. . .109
200 . Seneca Copper 8
100 . Stmttuck Ariz Cerp. 8)5
400 lDDii Shell Transport... 38
7100 2 Sinclair Consel 35 94
200 8 Sinclair Cen pf. ...101 15
.. Skelly Oil 10 A
0 Southern Pacific... 96)4
. Southern Rati 27
5 Southern Rail pf. .. . 71
. . Splcer Mfg 20
4 Standard Oil of Cal178i,
li Standard Oil of N J220)J
7 Stand Oil of N J pf117!5
n Stewart Warner Spd 52 )j
1 Stromberg Carb.... 56
10 Studebaker 1364
.. Sub Beat Cerp 74
. . Superior Oil 5 94
.. Sweets Ce of Amcr. 2 9s
.. Tenn Cep & Chem.. 9I
3 Texas Ce E0&J
4 Texas Gulf & Sulph 63 '4
. Texas & Pacific... 30
1 Tex & Pac C & O.. ?6j
Tidewater Oil 142
3 Tlmken Rell Br 34 "j
. Tobacco Products. . 63
7 Tobacco Pred A.... 87)5
.. Transcontinental Oil 14 a
.. Union Oil 18 1
10 Union Pacific 151 15
4 Union Pacific pf. .. 7894
8 United Fruit 162
Unit Rwy Invest pf 31 '4
. United Retail Stere'n E5
. . U S C I P ft Fdy.. 33
..US Feed Products. 7
.' U S Ind Alcohol.... 70 J,
7 U S Ind, Alcohol pt 102
. U S Raftlty & Imp.. 86
..US Rubber E6)4
5 U S Stefcl 110
7 U S Steel pf 122(,
2 Utah Copper 68 ij
. tltnh Securities 1915
Vanadium Cerp.... 4515
0 Va Iren r & C pf . 63
. . Vlvadeu Ine 127,
.. Wabash 12J,
. Wabash pf A 3294
1 Weber ,t Ilellbrener 1 1 4
t. Wells Farge Exp... 98 !4
7 Western Elec pw...H0
.. Western Pacific... 17)4
0 Western Pacific pf. CO
7 Western Union Tel. 116 (4
4 weHiingneuse A Br 99
2500
2700
1500
4100
200
7100
20203
930
100
100
12100
330
3200
1030
100
9130
1703
100
1000
200
5603
2203
2500
1200
60O
1030
400
4800
200
5200
203
1600
3100
200
500
3600
16100
100
1600
600
1600
100
100
400
500
2100
5100
200
GOO
200
500
100
6100
100
100
100
100
400
300
BOO
400
, 100
4 Westliu; B ft M.... 63 4
. Wheeling & L 13.... 12)4
2 White Eagle Oil ... 31 Ji
4 White Moter 50
.. White Oil Cerp.... 6 94
.. Wlcklre Spenc Stl. . 12
. Willys Overland... 6 94
.. Willys Overland nf. 4294
.. Wilsen & Ce '43 Ji
8 Woolworth F W.. 104
Lew
94
20)4
52)4
294
57)4
45 Ji
434
35
7
!i
179
90)4
84 )'.
7094
26 94
225
61
21 Ji
12)4
172
14394
SB
33 94
34
43)4
48(5
55
69 Ji
38)5
28)4
49)4
544
164
1794
1374
222
17)4
17
28)5
13!i
3394
74'
17)4
454
38
21 94
60)4
22
17
10'4
15(4
134
125
59 )2
Hm
66 U
ICO'4
It. 14
3994
100I4
90 Ji
32 '4
25
122
97
46 4
87
G34
2)4
254
11
39'i
E5',v
24
544
92 94
91 '4
2Ji
48 M
4 14
96'
3815
51 'j
42
4
35
6 '4
46
199i
117!'.
4-4
59 ''.
'00''.
40 9,
'5
74
b-,4
106
133':.
47
12?
I Ji
80 )i
36 H
334
594
li
Si 'j
"14
;p;
50 i
3f.
S6'i
10IJ
4
RO
109
f
8'...
:7'v
?4 9a
101 U
IOI4
9554
2.
70 'j
12b 'a
215
11V"',
5?;
56
' 'i
28
J'
".014
f",
30
'" i
141 1.,
"b
(,d 14
PC
WI4
18)
I5ui4
7ft ',
156
31 ' ,
4'4
2i
6,
69 1 4
102
PU
55 i
'09 9i
12?(i
6P
19'i
44 J8
83
12 7J
12
32'5
II -4
9C
110
17 i
59 4
lib
99
b2 7
12'5
31 ',',
50
6'4
11
694
41
4315
194
Net
Chs.
H
94
"It
94
14
1
ltIB
F. M,
M
20)4
5294
57)4
46 434
35 -7
-
14
182 3
90)4
84)4 V4
71 94
26J4 94
235 56)4
01
22)4 )4
12)4 )4
175 3
14394- Va
58
33 94
344
43)4
48)4
55
69J4
38)4-
29-
49)4
544-
16H-
18
1374 1)4
228 2
17)4-
17
28)4
13)4
34
74
17J4
454
38
21J4
60)4 2294
17 -10)4
13)4
435
125
59)5
14
67
10094-'5C-4
3994-
100)4
90J4
32 94
25 -
122
88)4 D4
G4 ..
2!4 ..
26)5 1
11
39)4- 94
85)5 ..
294 ..
544
94 -
92)4 D4
ZJi.
404
4J4
96(4-
-i7i
51 J4
42 -14
35 -
6)5
6 -
1994-
120 4-
LOCAL TRADING
ALSO SPECIALIZED
American Gas and Eisentehr
Were the Stars of the Ex
citing Performance
14
)4
94
194
S4
1'4
1)4
2
4394 ..
5994 - 94
loee,
48 94 - 94
45 1 1
76 I- 1
96 J4 j- JS
106(4 -i '4
134 4- 2(4
47
30 7 t. IJ
123 - '5
14), ',
60?i 34
36(5 .
334
H9 94
2 Si'
9
C6I4
19)4-
4
7
O
109 -
0
S'5
:7(4-
34 9J -101
(-5 1
10(4
94
7094i
1994-
1 ' 1 il -r
The specialty movement appears nlse
te be developing In the lecnl market
nt n rapid gait. It seems te be the
order of the day. While the general
run of favorites nre relegated te the
background, speculative enthusiasm
breaks out among 11 few selected Issues,
such operations generally being con
fined te these shares either known te
be closely held, or In which there Is
some suspicion of concrete evidence of
impending developments outside e the
ordinary nature.
lly reason of this newly assumed
fashion of the speculative community,
as the movements in practically all
of the mnrkets have Virtually lest any
semblance of Investment character, scv
ernl ehscur" Issues monopolized the
spotlight during the entire hcgslen.
The two stars were American Ons nnd
Klsenlehr. The first named ndded 4'4
points te the recent nlmest phenomenal
rise carrying the urlce te HI. which
nnturally attracts mere attention when
I'ompnrisen Is made with low price of
127 made in lt20 slump. The mysteri
ous upward movement in Klsenlehr
continued unchecked, elevating thnt
stock mere than !i points te n new high
record for the current swing, at 84.
On a smaller scale Electric Storage
Ilattcry was in continued geed demand,
advancing te f7, or within a half point
of the recent high record price. Penn
sylvania continued te be well taken at
48T6. notwithstanding the rather freer
supply of stock nreund the current quo
tation. There 1m said te be quite a
geed line of stock te be marketed above
the 4.0 mark. .
Philadelphia Stocks
niKh
.'M.tAm fin"., hi
712 Am Milling 7Vj
70 Am Kw.vs. l.'Pi
U2 de pref.. (10
Net
mv 1 1". M. ehitp.
7.-.a4 N)VH-4
l.'l i:i Va
v.r-n r.n u
5 Am Str.s..l(i.-a 10."! K!."ij Vi
lOOtHar'Ml'l A Hit '.V.)
lOOtH & O.... r..vS r54
1.1 Cam Iren 41 41
100 Cen Tr NM ,r1 T.l
SS Elec Ster. ."7 57 '
35 Kric Light
pref .... 2r4
8-1 Tn Ce N A 40
100 Lake Sup. 7Vj
l."0 Leh Nnv.. 70ij
12 Ieh Val.. 71
(!!(! Kiseiil'r S4T,
111)1 lVnnaKK 4S 4ST,
70 l'eniia Salt X2 N"J
.-,0 1'hila Ce. 4ivs 41
SS." l'hlla Klec 31 M 31
32!) de pref.. 31-V, 31
. 10 l'hila In-til
Wire... 37's 37
400 I'liiln lt T 331, 33Vt
Ifi CnienTW 41i 41
170 rG I.... 53 i 53
25'
40 V.
7Vj
751j
71
SI
30
55
41 ..
51 . .
57 '-
2.V1- 'i
40..
V. !!
7(!'j l
71 Vj
4S
52 ..
41Ts 2'i
31 V..
31-..
37 H-
334 . .
41 V
53..
tN',t ih.inrr-" midr by "itnpitlpnn lth lntt
ale nn New Yuri: Hteek llxchanK'1.
I'lllUMllIl.l'lllA I1()M)
400 Virien- 4", i-nlled Rill. 00
1000 Llectiic & Pen Tr 4s ctfs. . 70
1000 Lehigh Val 'eii 4s '23.. !)!)
1O0O Phlla Klectric 1st ."h !)!Ji
3IMM1 I'hlln Klertlli- 5s 102
4(M)0 WeKbnrh Ce 5s IIO-
LOCAL MINING STOCKS
Te.NlJl'AII STOL'lri
Cash le'
Jim IVill.T
MicNain.ira
1 'rr scent ...
Mlilirey . . .
MUimh i::.t
MnntiiTia
Nnr Stnr
lti"-ein- I .ul.
Tun J:xi
W. ,t Hnil
Wi-st 'l-en
II 1
in
.111
ml
Asi.Cil
.U
wCats and Degs9'
Cats Aire bees, odds and endi, geld brieves, are some
of the Barnes of things which uninformed and ill
advwed investors sometimes buy.
There is no profit in that kind of investment for the
investor. It is a one-sided transaction where the pur
chaser is always the loser.
Keeping our clients away from such impossible securi
ties, advising them what te buy and keep, informing '
them of developments affecting their holdings, and con
tinuously protecting them these are all features of the
service we render.
It will pay you te knew mere about us. Make inquiries.
Moodys Investors Service
35 Nassau Street, New Yerk City
BOSTON
Ml Milk Si.
PHILADELPHIA
Rttl Eft,tt Trutt Bld
CHICACO LOS ANGELES
Pirrt NtIeil But Kit- Pifi Mutnil Bll.
i$SBI?,
H WTTLU CCTIWMTT f
. iviHrt
ipiiiiiin ''ml nnl
1 ,i 1
I
iiifiiiiiiiriiiiiiiiiii'iiiiiiMiiiiiiiiiiiiatiiiiiiniiiiaiiiiiHiinn
Lembard 662 i
MILWAUKEE ELECTRIC RY. & LIGHT CO.
5 Ref. & 1st Mtg. Geld Bends, Series B
Dated June 1, 1921 Due June 1, 1961
Free of Nermal Federal Income Tax up te 2
Pennsylvania State 4 Mills Tax Refunded
Annual earnings ter the last ten years have been nearly
2J4 times interest charges. 1
Funded debt of only 36 million us compared with total
atiils of mere than 60 million.
Dividends have been paid en both common and preferred
stock for 22 years.
We recommend these bends for investment.
PRICE 92'4 TO YIELD 5.50
BATTLES & CO.
Established 1890
Independence Square (East), Philadelphia
!L'i.injiinaiiii'iaijjHMMiMuT:iniiit;ui.iit.iiUTijiiuiitiuiiiii:riPUx;tiiint;it'ii;itarttriiijiniiH!!j funa
SlllKliffllilMlilIK
i-a1-
up,
KIVlllE hl'CU.'K.S
12
tw
i AlllrJ ll.
' AIM r
8 , 11,-lrm-r
i i Ilreunh DU
niviiix i:t
I Dlv Clin ..
ImuT.Tl,! . ,
I'.i -i i in
It, i mill ...
Knnx
Sllwr Klri'
Sulhxrlniiir
Yen Dlv . .
Ten H.iNh'l:
Vleliu 1'n
Vit.Lj nil .
Zer
ni
nt
in
A
!i
220 CH
H7 5A-
!-
135 -
7?4
5Va
2 9H
20 -25
Vz-
142 -1-34
W -62T4
151 -J.
78
1G094 4.
31 'At
P4 J-s
J3
e-
69
102 H
86 5614
4
68
191-4 -44
Ji
83 12J4
1
3?
tlM-
98
110
mi-r
594
1 1S -99
63(4 I
'4 -50
6H
12 4
654
42J4 4-431-
194
UNITED STATES GOVERNMENT
30-Year 4 Bends
Net Redeemable before 25 Years
The Treasury Department offers these bends until Satur
day, October 21. 1922, in estchange for United States Cer-'
tificates, due December 15, 1922, and Victory 4 Notes.
Wc rcceuinifud thin csrhuugc or ilie outright purchase of these
bends at market about 100.10 and wc. shall be gtad te
attend ie the details.
EDWARD LOWBER STOKES & CO.
20 Seuth 15th Street,
Philadelphia
Spri'ec 7758-775S
iui.DFir:u ste'I'
Menth . .
Cniiili I'nr
CrnrlifrJ.uk Dlam II 1! .
KlnrflK'i . . .
C.ulilf Cen
8 I fir. 1. 1 1 I t
1 I ill.f l. Ml '
y, i (IriMt li, nil
l" JuiiIhi Uxt
'4 I KOWIHUIH
I I.env Star
I rire . . .
11ml Hills .
SIImt lMrk
Sil'earlieuil . .
II. in
ii. u
m or,
,in ic
n'i in
.ni
.11!
i". ni;
,ii.. it
,n i 07
hi 01'
ii n;
,ni li.".
il i ,01!
li
H
n
"Va
V
'4
Vt
V
Va
5U
Ha
.mi,sci:i.i.a.m:uu?
Amraru
Aria t'nlti-il
I'ulfildnia .
, rnmlil irl.i
I llrnm.i Ui"i
! llll)tui .
I Uiirt-Un ('runs
I Kureltu Kell
Hecla
Murnh . ,
Mntln-r !.L
Nv HH'h
N. . Wiier .
Sucrf. . .
Tt'cnp i Mil. . .
Volcano
Willi" i'nia
U'lluert
. . 1 00
. Il'l I-.'
. .IL 07
. .1 ! i
. .Ill i)'J
.1 mi I lull',
! u U. ii)
. .I'll 3 II'-.
. .11 ta
. .11 VA
. ii' ii.'
. : i.oe
ia . is
mi !
m :
US
111
ii.T,
'll'
04 ,
02 I
ii a '
r,
n:t
n:i !
nil I
I.S I
w I I
i'iT
1 1 A
LOUIS T. KLAUDER i
CONSULTING ENGINEER
PENNSYLVANIA GUILDINQ, PHILADELPHIA '
','!" POWER PLANTS
n'i 1 1 '
I "SIGN APPRAISAL :
I CONSTRUCTION . REPORT I
.nil
II
,011
LIVESTOCK QUOTATIONS
f'hlruce. Oct. IS i'ATTI.I. Ih-ieinm.
111.000 lu'iul N.tle l.err Mmmh nml car
UnKH t(jinparntlijl ,c.irrc i .i.rnylnmli'ly
fir.A.hnlf of I tin Viilfiii irr.t I ...t ..
liraOi'H nnthn Itf M'i iri.l te slim ;l
ether Kr.vleH un.l Wi it run low limit uteiuly,
hrtt Biferx ll .VI tiulli of riaih. lu-cf hIii-ih
ni duality unu cm, ail.. in i , s.iil , I Mi -n'.i 1
A enl CRlVKH Kll'.HjV te Hlll.llJ.
,llV (lll.llllV 1
luiirildeix, ether clusm-, ralrlv icthf. kpii.
i-rnlly una.ly npetn IiIkIht in eVHlr.il.li, I
hplferH; fen li'iul liUhiv llnliln.l warlliiK
htlftrii upward te $12 hulk .:. slrnble I-)-.
t, Iuiikk lulluiiinnil 1125; l,u l. ialeih.
i? larm'lv SllffU.'iU. bull; hti'f iewh uii.i '
7i lhir,.i 14 iir.ii 7 no.
ZYz I HOlJS lUcplm. H) OHO In,., M.trlin
siew. HwuiiK iu " iiikiur, u'k in. Kers buy
v
v
IN
Intf llttle, bulk. 170 te 2UII miiiinl uviMiiui.a. I II
;u.2S'ut)4S 210 tj .7:, i,eun I bummr-i
Geerge K. Watsen & Ce.
Certified Public Accountants
INCOME TAX CONSULTANTS
Chicago Wellington, D. C. Scranlea
Real Estate Trust Bldg.,Phila.,Pa.
!- I
itreuuu w i1" ,.,. toil sh nn iiulli, iukk.
Inc miwb, ST.IiOiUKr.O il"slrnb'i pIk murtly
ilifllt.25: hi'iny. H,'.i i iln m. ilium. 411.2.1
fyuiiu, iient. ii la-mi ,,i iiu'lit liahts. 0 10
ii 'WMli'i pafklnn bob. inimtli. tMiNTA,
,, imil.lri.- k'hm. . reuh 17 SDH n in. kllllnK
.7 I'lBS. S.7.if U.-"
14 i siulni' ll'iutj 17 000 h, hi j,'al u.
tlvn IftinbH ctli. ei.i'tilnr stinnK te l,"c
lilBher: earlv tee n.nu.. SI 1 .-,e iu ,.ty
butchers' 1 J l.i l;i nuliru, i ,i U',t,.rn
I Iambi held L'.ii' IiIrI.ii ,.h( uiiur .,bevi
14 SO, no enrlv h.Ui-h fi-iki lmiulr koei),
., few early imles utut Htimlv hi-eu mvud)
71 te atruiiK. In'.iw l.ii nin,, U.iUts- itmlvr
14 handywelKht ewea, J7 '.'.
In Continuous Business
Raw Sugar Active and Firm
N. Y. Clearings at Year's High
New Yerk, Oct. 18. New Tork bank y, yerk. Oct. 18 Thq raw KUitar mar
rlarln touched the year'a high jtiterday krt centlnut-d fairly active and Ilrm today
Reserve Banks' Discount Rates
80tfeatd'
MOYER r CO.
B.NKHRS r BROKRRS
301 Oiestnnt Street
, BOND SALESMAN
WANTED
Beme jeoed bend euleninun net new con
uevUd can earn geed money mMllnjr nnr
Ntr Complete r'eur Decimal llund Vnlue
iwuir. hhu vur filler uunii-iui iuiiiii-Hiiiiit
.'te Ilanat, Bend Heutes nnd ether Klf nrlnl
miuiuueB. rennayiranin terri'iiry ppiy
FINANCIAL
Uln. .1.200.000.000. , mcreu.e of 8S . with ; for ""m. &
300.000 ever th m dJ-C ,Cftr ""''J Th-" Warner Hucar iunnlnic Company yenterday
fullv nilddlln IS SB. middling, li 74d,' low mental operation en Monday in the money 5 63c. duty paid, delivered, and the Amrl-mldJlini-,
--'3'l, reed erdlnury, I2.49d. und ' market tn connection with th "al of new ,.Hne Hugar Htflnlntr Company, purchosed
u.u,.,..,,, .... bendm tne "'"."! r,' !"!"'" u- ' , ." tena rtilllpnlnea aoeui aue i V"":
' debtedneeii the payment of literem en th.) delphla. at 3 SSc delivered. Arrivals of
reurtn i.it"ry f "lVn iinfi linii ""'""" " raw yeeterrtay neiuaed le.uuu u imi,
Oreat Hrltatn of 'l "n W ' "Icee and B300 bairi Cubaa International
of lntereet due 'llh",I?bt1,1,i2 Jll ln""li Hu-""" Hellnlng Company. Tha local refined
htatet. y5hr-5(fehnfii. MaVeh' r'tiSIf i "- la unchangu both te conditions
May a1.12S.6O0.O0O! March 1. 11,000,- Rnd prlcea.
702:828? 1'ha record high, for .few Yerk' "rice..
clearing. w.WAS5.D,,.lu--' T""n '"'
amounted te Sl.e2S.0S8.8.
KnHt IlufTiile. N. V., Oit IS CATTI.l.
Kecxlnta, ISO h(.ud Slcad l.'.WH
jtOCr1 It'celiHB moo h'uil Actlvn' 3c
Ie d.'ic nUlii-r. lleiny, tlOfi ln.s.l; mixed,
official redi.ceuni ,!.. .. . .'".?' '::" . :.::.":"''. ' "iu.2.-sr
Kederel Ile.erv. Ihink, ure a tWaiX"' '" SMEIF AN.) I. VMhOT. IpN l-nu
.a"'i l",b- '-em'l llkrg. head Mteudy. fuw liimb. in 2S '
ctfi. U.nds. paper, accent
v-1
Hmt, yw Te
MONEY-LENDING RATES
SEW YOKK Jtenev en rail both clasm.
of collateral opened today at 5 per cent for
lendlni; and renewlnc
nilUXDnU'llIA Call. 4H per cent:
I time, 4Mi rr cent, cetnmerctal paper, three
' te elx month. 44 te 4i per cent.
Londen Metal Market
Ixinden, Oct 18, Htandnrd copper, .pet.
(70 Mil future.. 71. Tin. iPet. 1171 t!
ruiurea. nil na dai le.ia. .pat 123
future IS4 Iu adaaLapet, IU Ti 4:
Bt!rri-jfs
IloeteTi .
Yerk .. ..
I'hlladelphltt . .
Cleveland ....
Itlrhmend ....
Atlanta
rhicage . . ., .
Kt Ieul, . ..
Minneapolis
K'anmn City .
Dalla
Uan I'VanclMO
ii
i
il
4
4j5
13. i
4
I'lttaliurgli. Oct. IN - neus llecrlpte
1(100 head. Higher. 1, nii-e, ns )(.avy
ead
Sli'adj
414 jerkera. light erker nnd iiia. In SO
41? Blinill' AN'II l-XJH-H lte.-el,,I8 jlOll I.,
41 Htendv. fine en. 17 Su, Inmhs, nise.
I
DIVIDEND8 DECLARED
Portugal te Pay Taxet I
liabee. Oct. J8. A Oevernment decree
publlabed tedar re.t'ulr" the payment of
expert ta" t"1 "'?1(1' . Tn Inure la de-
Plgl.eU IO BIK1! . w,,i i ,'! ItUfW'lU
thua CelPlUC W whuim reriugu.M
1 Martin Parry CorpuraUen. Quarterly CO
n Geld 1 eenta. payab e December 1 te ateck of
' v,v,u record November IS. .. . .
T
aeuthern Mtate. en corperauou. ."im
dividend of 8 per cent for current iiuartijr,
payable January 20 te ateck nfreceril De
cember SI. nnd monthly cnh lvlilnil nf
1 par eenL payable XevamUr SI te ateck
t racar Itavtrate S.
I''. IU21 11)10
.jns.oeo.ooo J7ii.oeo.ooo sun sfti nn'i
. 82,000.000 60:002.820 fiO.SOO.'sS"
THE TLKASINO TOM'S or HKPIA
add greatlv te the nttractlvciieM of th.
Intereetlms picture. of fameu. folk, of im!
.wrtant eventa, of distant Place. which an
near In auch abundant mB 1. .i. V.1
,.;:&em.n-,tw.Btta, --ess:. sS88,,-. iV&.,.?.jlu, ie
Hawaiian Banks Merge
Honolulu, Oct. 18. Aleiander and Irald
wtn, aucar factor., announced today the
merger of the natdwln Dank. I.td.. of Kahu
lul and AVatluku, en M-iul Inland, with the
Itank nf Maul. Ltd. Tha nlnn In tn .m.
bine nil the bank en Maul '.land Inte a new
(AI.VF.H-lteiflpL. 50 hen.l
Tep. II a. 50
BANK CLEARINGS
Hunk, clearing, tedav cempari'd witn
reopendlntf day last two eara
ii'.i 1D21 ioen
r.L..i- fnK no,, nnn .te nm. ...... . ir '
rniin.
lioaten
qtinnnnnnnprinrinrtnrinrinnrrnrinrtnrqriej
MAIN and COMPANY 3
1
a
PHILADtLPHIA
c
c
c
c
i Certified PubticAccauntante
t Finance Buildine
UbLbbLibLUbUblibbbbLiliUbUbUliuUULUlil
HORACE P. GRIFFITH & C0.
terUbcd Public Accountants
nNANCj: BUILDINO. PhlladalpU,
Herace P. 1 Oriffltli, e. p. a
l.xempt from nil
I xternl Income Taxei
State of
North Dakota
5'j and 5 Coupon Geld Bendi
Leyal investment for Savings
Hunks nml Trust Funds In Sew
Yerk, Connecticut, A'ieile
'slunrf, Vcrmenf, etc
Direct obligation of the
State, with payment pro
vided for by unlimited
ad valerem tax, and for
which the full faith and
credit of the State is
pledged.
Net bended debt less than
K of 1.
Maturities, July 1, 1929;
July 1, 1934, and Jan. 1,
1947.
Prices te yield 4.50 p
Write for Circular
' Bonbright & Ce.
437 Chestnut St., Philadelphia
GE0.A.HUHN&S0NS
Member, e
f the Philadelphia. New YU
and Chicago Hteek Eirhangei,
New Yerk Cotten Eiehange.
STOCKS & BONDS
bought and .old for rail) ur cartli'
en ceneervntle margin, .
Ilellevue t'eurt Illdg,. 141ff- Walnut Bt.
. a. m
C. S. PATTON & CO.
,efeAisr- .
M aiik'V'StKtmiieii
(hi
7.'&A.3' fit
i-5,