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R'O ' wxrtjixrrxTn imttrm t .niivetiutr . A nw.T ,unf A WTTTCHIiAY. rKlTOttKR ill. 1922
bsbbI e -J r
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.d
IDLE FUNDS
01 ! ' I
Individuals, Executers,
Trustees, Firms and
Corporations
deposited with this
Company art
Well Protected
by our ample
resources
a wwa ea
' .4 ' i If
NEW YORK STOCK EXCHANGE TRANSACTIONS
Onfr Attntwn Jtsaart In PhltmMpMm Quoting Frntl LM
SUPPING PRICES
Emergency Support Prompted
Opening Recovery, but Ral
lies Fall toxeid .?
t-' i
-t m
jft'(" Interest allowed en J
t average daily 4
?!' haJaneea
iSjfl , ,
"" J2 Years of Service
J iUW
vl aTHcSlw S I
rerwx
v IA22i--Usii
I vTTilitTsfieiCrisii ftVfif L
i i. r- nBH)i - - -- vsr i
S Irii. i nn 1 1 1 1! i! i nun iiuiiiiM' in uiiiniiiiii'iniiiuu'i n I i.iim i ih mi mi .it
5aS2Ifiai5aB2E2I52I52raSE
i
I
5
1
42 YEARS
OF
INVESTMENT I
SERVICE
is the record en which
we solicit your busi
ness for Bends or In
vestment Stocks.
Bend Department and
Stock Department
equippe'd te give the
best service.
Established 1880
Offices in
Fourteen Cities
$ame, WLtVbtv
& Company
1422 S. Pean Sq., Phils.
Member ,V. Y. Stock Exchange
Bosten New Yerk , Chicago
New Yerk, Oct. 31. The mnrkct to
day drifted Inte n trsdlnc . area, nnd
tiripl tlintfitmntif . In (.nnitMiilanpn- vna
1 1 highly Irregular. Wlmt is .technically
Known eh emergency support tviw np
tlllfwl fit tlin nlltanf tn nUttnh ttm Mivlffr.
running reactionary currentc. nnd the
downward plunge e( MCttrlty vnlues
. wiw temnnrnrllv at leant nrrentcl. It
1 eWus ebvimm. however, ns the (r-xslnii
j , progrewed. that the mnrkct wim ntllt
I Biniii - --'-iiv-i'iii. in iiii-iiij imnrr. xiiit
3 1 rallies Incited xtnblllt)' nnd modcrnti medcrnti
a f, recoveries ecemed te tiring-out u frcdi
j I let of long nteck.
a I It whn quite gpnernllr J)dmltted be-
fore the opening thp market had vlr-
lllnlll fflnitttml t. 1i..il4.aj. ..lt.A. It .tn
njnbefutely neccKniry for It te get n
utile du better, or pIkc the llqiiidntins
inevement wns likely te renchriiorcBPrl renchriiercBPrl renchriiorcBPrl
eils propertlonii. The concentration of
buying erclrrw In n number, of the spec-
illative fnverlten nt the opening, there
.fore, emitted little mlrprlse, nnd the
whole list under these Nitppertlng or er
idcrs Ktnrtril upwnrd. .uhlrh, . .turn,
prompted free cevcrlnj ofthe shorts.
r.nriy gains ranging from 1 te 4
points were lurgely canceled before.inld befere.inld
dn.v, due Id heavy bcIIIiiu of Httidpbiiker,
which dropped mere fhnn' 2 points in
reflection of upcculntlw (llt.npiwlntmp.it
in the failure of the, directors te de
clare the predicted extra dividend.
'Jhl'i, with the marked venkin"ts In
domestic oils, turned prices downward
ngniit just before neon. Mny De
partment Ktores, bow eVerhad' extended
It ten In te 10 points -beferp men te
wenknef-s set In throughput ,thc list,
ltarti'-dnll A. Producers and HcMners
Tidewater, Asecintril, Cetden nnd l'n
clHc Oils and l'hllllps I'ctrelciim nil
dropped 1 te II points. Weakness also
cropped out in a number of special is
sues. (JpiiciiiI American Tank Car de
clining -HI points, Delaware nnd Hud Hud
eon .'I, National Iliscuit and American
Steel Foundry preferred '2U each and
I'.mei'tcnn Smtft" '.
Commodity Markets
GRAIN MARKET
Chicago, Oct. III. Scattered com
mission house Kcllinir. tezether with
laik of demnnil, (ireved Hiifficieut te
held (Iemi rallies In Hip wlient marKet
today during the early denlliiKs. Ap
parent Meppngc of expert buyiiiK
counted in pnrllculiir as a bearish in
fluence. The fact that the Liverpool
(imitations displayed no new upturn
ww. also n subject of comment. Ini
tial prices here, which ranged from Vic
te '' lower, with December 1.14'. te
1.14's and Mny 1.12-Ji te 1.13, were
followed by u slight rally ami then u
f l call- decline.
Kxpectance of cnlni'Ked receipts of
corn acted ns a weight both en corn
and eats prices. After opening c te
"if oil. Iiecember tm-Nc te llu-ftc the
tern market continued le sac.
Oats started unchanged te ',ic lower.
December 41-Jic te 4Tsc. and later
(lr.-.ceii(lt'(l a little all around.
Previsions had a downward drift in
response te lower bes allies.
rrev. ie-ia upn r. m.
A Message of
Safety
The message of S. W.
Straus & Ce. te the invest
Ing public is a message of
safety. Fer 40 years, every
security we have sold has
been paid in cash when
due, both principal and in
terest, without less or de
lay. Investigate Straus
Bends and the Straus
record. Write today for
BOOKLET 909-1,
IW. STRAUS &CQ
IKCOXrOIIATBO . MTAMMHIDlU
cock Exchange Bldg., Phils
Telephone Spruce 0,187
161T Walnut Stteet
40 -rM.ru without loll
ia hut Inwiter
(C) 1022. 8. W. B. . Ce.
Cern
tJcccmbc-
,Mn.v
Julv....
I Whi-nt-
Dpcemlicr.
Mny
Ju'V
Oats Oats Oats
Detomber. Ma:-
Jul-
IIM
Drmb-r
Me
l.anl
.'anuary. .
May
Octebci . .
.CI7,
.00
I.I.".
1.13N
t.e:.f.
.4l-
.4I.
,IW1. .00'.
.07'. W .07
.IJD'i
I.H'.alM.ll-,
I. lit bl.U'x
l.Ofi
.1l?ii)
.41JW
.303
.V!
.hO'j
ll'i
ll"
.0(1
.11111..
.IU,
i.nr.
i
i.etu
M,
30',.
.!0
(l.fli
It HT
10.4:i
COTTON MARKET
New 'erh. Oct. 31. The opening of
the local totteu market was n disap
pointment, in view of firm Liverpool
cables. December was - points lower
011 first sales mid Inter mouths 3 te
5 points higher. Pressure was put en
the market bv Japanese, interests nnd
Liverpool, the latter helling late
months. The Smith In general was also
l a seller. Spot houses and New Orleans
bniiRlii. winie wan mrfci irnueii en
leth nides of the market.
AftT the opening, the uuirkei iidcd
Mend.v with n rising tcmlenej.
YfM. drum Oprn
Pecembcr iM.20 24. an
Januarv Sa.li.l 23.9.-.
Mnri'li 24.01 24.04
Mv 2S.P0 2.1H2
Julv 23.07 2:1.70
12 M
Vt.iQ
2:1.1).'.
24.1)3
S3 00
Republic of Columbia
eVii 1927
Price 98, te Yi.ld 79c
Frinclpil and Xntarcit piytbl In
U. 8. geld coin.
F. P. Rittine & Ce.
Widoner Building, Philidclphia
Nw Yerk Elliabeth. N, J.
Jicmbcrs Ntw Yerk ant PhllaMphia
BtecU BrchaiWft
NEW YORK COFFEE MARKET
New Yerk. Oct. 31. Kceent ad
vances In coffee, which carried all ac-
I tlvc months well into new high ground
I for the movement, seemed te have at
tracted a little renllzlni.. and this morn
I iiu: first prices were 3 te 3 points lower.
Late in the forenoon, there was med-
crate demand from shorts for December
contracts, this position selling, net un
changed, nt It.THc with the Inter months
about at initial figures. The local spot
market was ngain wry linn.
Prv CIose
December . . OSiffSI
January 0.73
March B.eaWfll
May n.4n4n
.lul 0.21 W 23
.September O.un
Hlil.
Open
0. 75fi80
11.70
e.r.msinn
It.4043
iMOWin
S.8OWO0
Keptember uris
Executive Available
Man of cxteiiule cxpcrlciicii n
Salci Management ami Bualnesa
organization U available for new
.'ormectlen with greater opportunity.
Rtply C 801, Ledger Office.
IDLE MONEY
Will find profitable Investment In n
security absolutely as safe ns n
GOVERNMENT UOND. Ias 8
fltvldends April and October. Address
A 328, Ledger Office.
Nelle t Ike Membtri of Ik
New Yerk ft Pkilt. Stock Excki
Are j 011 centaniiiliitlni.iir are you
underwriting itw-k liauef ,
I liave l organliatten ami im
Teady te rentraet t" lire Uih lm n
U dlittlbutlen. Strictly loinuiliileu
Im'ue te b aold.under the nam end
pirn the ofleea of tntmundirwrlur.
aakUg rafireacw. . I. A US.'
RAILROAD EARNING8
PENNSYLVANIA HY TUM
llf.'J Inoreane
Senirnibcr sieas . .800 MM.712 lll.ofie.THn
Net nfler tnxes . . 7,(137,702 l,S01,34S
Net f.per. p;ume . . 7.427,r.4l l.'lll.niift
Nine nientlia' KrnH ,,5n.-.,03il 721 S,77l.24
Net ufler tiixen ,.,. fl'i.ui.l.nss :''.14il..,.n
Net eper. liKeme .. 03,000,301 H0.n2S.SSI
ST. I.OIMS AND KAN FttANTIHCO
HYS1 IIM
Senlcmber lien ... JO,730,ni I 87,l)ll
' (lpeiallim exneiiaB . .-. 40-.-.ni2 ; M
Operating ekpemca,. n.4im.M2 .,, 4
"n" innntlW Vrea, .. n.sin.nRR 2.'M.W
Ilalance tl,.130,r14 1.702.33S
I WU8T JKRSKY ANI SUABHOItr:
l,ft74,fl01 $20S 041
23,07.'i 02,37:,
Nine nmiithV arns? .. H'-S0' '? -
Net after mxea I,3lll.0r0 r.11,01.'
NHV YOIIK, CIIIl'AfiO AND .ST. I.OI'IS
Sentemlier areFi .... S3 283 203 tn,l2'i
Net oper Incenu. . 330.170 I4K.S10
Net uper. Income.. ft, 121.803 1,0110,370
CIIICACIO AND ALTON
Senlcmber Biees .. HI.RIt.niB Ht.0fln.8St
.sine , BSmlh" me.a.. Hl.nnT.110 3T3.J0
Net npr. Incmne. . 470.112 54R,n4
MICHinAN CKNTRAL
Net ep-r. IntPine... 1.027.211 408.7R2
New mnnth' areis.. r.0.3S4.S40 S.VMfl 01e
Net etiir. Inronie.. 12.483.207 2.008.71S
heck island livi:h
Nine ineatlia' Bre.s.lJ.0S.r,7J 1R.in4.nrin
Net lifter taxes ... 12,040 8(11 2.420.BIS
Total llicome 13.120.880 '.SSS.TOS
NOItl'lUJRN PACIKIC
Semember srn,. .... 8IJ.N4n.408 118.004
VAI (I DOT 1 IH. "ill" l m, l"lF("rn- 'n(l,tll
Nine monllia'Vrea... ns.Snj.Tjn 1.204,470
Net eper. Inrema . . . 8.280,743 4,858,748
ST. LOUIS BOHTIIWHHTIJIIM SYSTKM
Sent, iirnm f2.HH.74n ,330,000
BNet after le . . . Mi.im 110.77
Tulnl Inc'iili' 1144,18.1 80,,2n
Nln" inentha- u-n.H.. 1.J 230.l'l 310,42:.
Net nfler laxei . . : 1.2: IS S2n JM.JJT
Tetnl Income ... . 3,1128,13.; 4S0,:i0S
Dtcirnae,
DIVIDEND8 DECLARED
llae Wheel f'enipapj. rmerlerly 7.V. pny.
able lweirber HI I" ateck of rcveril Nu.
"(ItileraT'AiPliaU fempany. quarlrrlv V
per cent en preferre.l. p-ijable Derember 1
te aiecK nr
ateck of record NuyemberlD.
Inlornitlenal roire
IB cent a. rYtnene
roeord Nevambir tty
,r,..A,tlnri.l Patreleum Company. Ltd..
ffi rVnuT payable Nevembar 80 le aleclc of
- . Cv.
Ba'ea In f
400 ....
1100
200
100
7500
300
500
..100
200-
400,
STOCK Utah
., Aaama Express..,. 78
4 Air Reduction.... t. 60 W
. AJaxnubber '13H
' Alnekn Oeld Mines, H
A'lled chem ft Dye. 70 H
4 Allls-Chalmers .... 40
. Am Agrle Chem.... 32
3 Am Bnnk Note pf,. S44
Am Beet Sugar.,. , 37 ii
Am Besch Marnete. se
2400, ;; Xm cr. ::::::. r: wu
t Am Can pf ItOfi
13 Am Car ft Fdy 181 Vi
'. Am Cotten Oil 22
,. Am Druit Syn 0
8 Am Express 147
. . Am cotton Oil pf . . . E0
: Am Hide' Leather 12yt
" Am Ice 107
... Am Internat Cerp.. Seli
1 Am La Prance Ung M-
Am Linseed 34
..'Am Linseed pf 55!j
6 Ant Locomotive . . . . 1 26 "
7 Am Loce pf.' 121
3 Am Metals..., 47
4 Am Radiator 116"a
U Am Safety Rater. 8
.. Am Ship Cem.... 2U4
. . Am S'me'.t t6
0 Am .Smelt Sec A... 100
6 Am Hnuft pf 1007a
.1 Am .Steel Foundries 42 H
7 Am Stcel Fdya pf.. 1054
.. Am Sugar ltef 76
. . Am Sumatra 33
i. Am Sumatra Teb pi 62 M
9 Am Tel ft Tel 122
. Am Tel & Tel rts.. 3?i
13 Am Tobacco' 16
8 Am Tobacco pf new 108
12 Am Tobacco n 1S3
,. Am Waterworks... VI Vi
1 Am Woolen 96
7 Am Woolen pf 110
.-. Am Zinc Ld ft Smelt 17J4
. . Anaconda Copper., 48 fi
4 Asse Dry Goods... . 61
0 Asse Oil. 1164
6 Ateh Tep & San FeK3
B Ateh Tep & 8 V pf 92 V
.. Atlan Blr ft Atlantic 2U
,7 Atlantic Coast LlnetlB!
.. Atlantic Fruit W
. . Atl CJulf & W I S 3 23
12 Atlas Powder 152
.. Austin Nichols 32(4
7 Austin Xtche's pf . . 86ft
. . Aute Sales Cerp of 15
7 Baldwin Locemotlve132J.
.. Baltlmore & Ohie.. 50
4 Baltimore & O pf . . . 62
.. Barnsdall Class A.. 32
.. Barnsdall class B.. 2131
200 48e Beclmut Packing... 39 i
500 .. Beth Sttel pf new.. 97 ft
5600 S Beth Steel B 72
430 8 Brooklyn Edisen... 1 17 H
500 .. Bklyn It T ctf 14
tee .. Brunswick Term... 2
103 10 Burns Bre3 A 122
913 2 Burns Bres B 48
100 7 Bush Term Bid pf . . 99
9J'J . . Butte Cep & Inc. . . 7 U
4J0 .. Butte & Sup Cep... :0
700 .. Cadde Ccn O & It.. 9i
2930 .. California Petrel... I
100 7 California Pet pf... 92H
29J0 .. Cnl Zluc nnd Lead. 8
1930 ie Canadian Pacific. . .143J4
1400 ., Central Leather.... S8
400 .. Cen Leather pf 75H
2000 .. Ccrro-de-Pasce .... 37
240J 6 Chandler Meters. ..; 61
1100 4 Chesapeake x, Ohie. 74
600 C',i Chesapeake & Oh pf103(
100
100.
203'
300
100
tee
700
400
803
200
1000
tee.
4030
101
300
500
2300
2200
. 1200
400
100
2733
200
2030
500
100
3203
19503
203
500
1100
203
3503
300
100
10100
1703
. 200
3003
100
600
303
tee
1000
103
2330
1030
200
9633
8300
100
3403
100
1003
400
3300
200
3203
68J3
930
10Q
2700
100
333
4033
2203
330
2830
100
700
6100
600
630
7233
1630
1500
2930
15330
100
6330
100
700
103
500
200
203
200
200
1700
100
4033
203
tee
2933
100
100
100
1500
3200
2200
200
100
9J0
500
700
500
4800
1JU
200
3333
6330
203
100
200
403
203
1400
203
130
100
3)0
C933
633
103
2530
7)3
403
103
12)0
130
100
100
103
El ioe
2)0
19)0
B 400
500
103
Chicago & Alte 2 4
. . Clil it I'. III 36 -U
. . Chicago & Gr West, bj'a
. . Chi & Or West pf. 12H
.. Chi Mil & St P.... 28
.. Chi M & St P pf... 43 V2
5 Chi & Northwestern tQli
4 Chicago Pncu Teel. 79Ji
.. Chi It I & Pac 40j'a
6 Clt It 1 & Pe 6 pf 89
7 Chi It 1 St Pc 7 Pf 56 Ka
. . Chile Copper 24
.. Chlne Copper 25)i
. . Cluott-Pcabedy .... 65
4 Coca-Cela 77
3 Cel & Southern 46 !
6 Celum Gas & Lice. .1C7'i
. . Celum Graphaphene 3?a
;. Cel Graphaphene pf 12
. . Consel Cigar 37 la
8 Consolidated Gas...136U
.. Consel Textiles.... 11!i
. . Continental Can.... f4&
4 Cern Products Ref.l?3
4 Cesdeu & Ce 4Hi
7 Cesdeu & fe pt....100
.. Cruclble Steel 76
7 Cruclble Steel pf... c.3i
.. Cuban Am Sugar... 21 fi
7 Cuban Am Sugar pf 97 M
. . Cuba Cane Sugar. . . 12H
. . Cuba Cane Sugar pf 35 H
. . Davisen Chemical.. 33 J.
. . Jtebcers C Mtn Ltd. 22J
U Delaware ft Hudsen ISO
6 Del Lack & West... 1 34
8 Detroit Edisen 109
2 Deme Mints 444
8 Du Pent (L l.) Ce.153'
0 Eastman Kodak new e4j
3 Elcc Storage But... X.5
.. EIU Hern Coul.... tB'j
. . Enierien-Brantlng . 5J
.. Emersen-Brant pf . . 27
G Endlcott-Jelmson . . 84 ?
.. Erie 14!$
.. Erle 1st pf 21
.. Erie 2d pf 16J-J
. . Fairbanks 14
8 Famous Player. L.. 93 Ts
.. Flsk Rubber 129
. . Frecpert Texas. ... 22 H
3 Gen Am Tank 73
.. General Asphalt.... 58 JJ
C General Asphalt pf. 90
8 Gen Electric 175 Ji
. . Genl Elec special pf . . 10 ',
.. General Meters.... 14)4
0 General Meters Pt. . 83!
6 Gen Meters deb 6"e 82
.. Glmbel Bre 39Jj
7 aimbel Bres pf 96
.. Gllddcn Ce 11!4
.. Geldwjn Pictures.. 7
.. Goedrich B F 32U
7 Goedrich B F pf.... 834
'. . Granby Mining.... 26
.. Gray & Dn!s 10J4
7 Great Northern pf. . SO
4 Grt North Ore ctfs. 34 'b
.. Guantanamo Sugar. 10ft
.. Gull States Steet... CO?;
.. Ilablrshaw Electric. Z'.i
.. Itendee Mfg 20 K
3 Homestake, Mining. 71 ?i
.. Housten Oil 01 i
2 Hudsen Moter Car. 20
1 Hupp Moter Car... 21
. . Hydraulic Steel.... 5
7 Illinois Central 112
6 III Cent pf A 115
.. ludlahenm ltef 4)4
.. Inspiration Cen Cep 334
Inter Cen Cerp.... ?i
Inter Cen Cerp pf.. J '
Inter Agrle pf ?'H
700 fl.'. Tnternnt Celllent. . 32
1100 2 Intercom EnB 25U
. Inter Rapid
6 Int Harvester new.. 104
7 Int Harvest new ptllSJj
. Inter Marine 12)4
C Int Mer Marine pf.. 52
,. Inter Nlcltel 14
.International Paper 57
. Invincible Oil Cerp. 1574
. Iren 1'ieducts 44
100
400
500
1100
4400
1700
2300
3200
1000
1200
500
200
400
100
2100
2100
100
2300
. . Island Oil i u
, . Jewel Tea 19
4 Jenes Bres Tea.... 50)4
. . Kan City Southern. 21 H
. . Kansas & Gulf 21i
. . Kayser & Ce new.. 44
. . Kelly-Springfield .. 40)4
8 Kflly-Spfi T 8f I"'100
. . Kennecett Copper.. 31
Lew
76
60
13
H
74 J4
45
31 ri
S44
37 y
33
69
110
181)4
224
6
147
50
ll
107
J.9"4
12
34
5Sya
123K
121
46
116
VH
21
55
100
100J4
41ft
104ft
74
33 ft
62 H
121
3
155
107
151
27 ft
96 H
110
17 ft
47
59
115ft
102
92
2
1 17 ft
Hi
2274
152
30
86)4
15
131
49 'A
62
29 ft
21
396
97 ft
71
110ft
14)4
2
132
47 ft
99
7
30 ft
9(4
52
92)4
8
142)4
37
75)4
36
59
73 ft
103
2)4
36 ft
5
12ft
7)4
42 ft
87 ft
7974
39 ft
89
CO
23
25
64 ft
76
46 ft
106
2 74
10
37
134
11 14
93)4
125ft
'6ft
100
74
93 ft
21
97 ft
12
35
32 ft
22 ft
130
132
109
42)i
153
04 !i
54
18)4
5)4
27
83
14
20(
16ft
14
93
12
22 ft
72)4
57
90
175)4
10
1374
83)4
82
39 ft
95 74
11
6
32)4
83 ft
26
9
88
34
10ft
C9,ft
2,'a
20
!
79ft
iO
21
5
112
115
4)4
32
1ft
31
32
24 ft
23
104
118)4
11
50
14
56ft
15
43
19
50 ft
21 U
2
42 74
39
tee
3114
14
14
14
,
ft
J4
ft
14
14
v
' !i
74
ft
Yl
V
1 74
14
2
Ti
1
1
1
2)4
1
' ' ti
V4
1
Hi
i ft
1ft
H
' 'A
'ft
ft
HI
3 i
Si I
70
'ft
'ft
ft
ft
1
1(15 Net
V. M. ChK.
76- 2
60 ft
43
3114 4
54 37 ft
33 -69H
110
181ft
22
0 147
50 -
11ft
107 29ft
12
34 -05
ft-
126 !
121 -
47 !
116 -
7
21 V ,
EG !
100
100J4
41 ft
105 ft
75 ft-S3ft-62-
12174
3
156
107
151 ft
27 ft
97)4
110
17ft
48
61
115ft-
102
92 J4
2
H8ft
H4
23
152 -S0-86
ft v
15 -132
74
4974
62
31 ft !
21 .
39 ft i
97 ft
72 117
14)4-
2 -132
47 ft
99 7 -30
ft 4.
9ft
53 ft I-92)4-
8
143
37-
75 ft-36-59
-73Ji-
103 -2)4-33
-5H-12
-18
4274
08
74 i-
96 -
24
25 -65
!-
76 ft .
46)4 107 -i
3
10 i-
37 -
136ft 2ft
11 ft
94ft
127)4
47-
100 -76
ft
-97)4
12
35 33ft
22)4
130 -
132
109
44)4
153ft
C4ft
55ft
18ft I
5)4 27
83 74 4
14ft
-93)4
I-
12 -22ft-72ft-57
90
175)4
1074 13J4-
BJ',2
82 - ft
39ft 1
6ft - ft
32 ft .
03)4
26
9-
90 -:
34 ft
10ft-
90 ft !
2
20 -;-71
-80-!
20 ft -
21
14
S
!
7 1
4 I
HI
i.i
t
1
i
ft1
Hi
Dlv.
Sales In 8 STOCK Rich
100 , .- Keystene T ft R 6
200 7 Kreage S 0 174
1600 . . Lackawanna Steel.. 82 ft
100 . . Lake Erle ft West pf 74
200 2 Lee Rubber 25 ft
1000 3ft Lehigh Valley 68
100 7 Liggett & Myers pf.121
2100 34 Lima Locomotive... 59
1400 .. Loews Inc 19
100 1 Left Candy 12
ZOO .. 13030 Wiles 50
12 Lerlllard (Pierre). .161
7 Lerlllanl (Pierre) pt121
. . Mack Truck 55
7 Muck Truck 1st pf. 90
.. Magma Copper 31
.. Malllnsen Ce 32)4
7 Jfanlmt Kiev Guar. 4
.. Manlmt KIev ctfs... 52ft
2 Manhat Shirt 57
6 Mar St Uwy pr pf. . 66
4 Marland Oil 32
".. Mnrlln Rockwell... 14
2 Martin Parry 28
.. Math Alkali 48)4
.. Max Meters Clan. A 48 ft
.. Max Meters Class B 14
8 Mny Dept Stores. . .144
t Mclntyre Mining... 17ft
12 Mexican Petroleum. 26ft
6 Mex Seaboard 1 6
6 Mex Seaboard Oil ct 15
2 Miami Cenner 7!
4600 1.20 Mlddle States Cerp 12
4500 .. Mldvale Steel 31)4
100 .. Me Kan & Texas. . . 10ft
tee . . Me Kan & T of Pd 35
. Me Kan & Tex (wl 16
. Me K & T (wl) pf. 43 ft
. Missouri Pacific... 19
. Me Pac pf 52
.1 Mentana Power.... 70
7 Mentana Power pf.108
. Montgomery Ward. 21)4
1 Moen Moter Car... 14ft
,'j Mether Lede Mining 974
. National Acme 1 3
7 Nat Biscuit 230
. Nat Cleak & Suit. .. 56
. Nat Cen & Cable... 1
. Nat En & Stamp... 64
C National Lead 108
. Nat H II of M 2d pf 3ft
. Nev Cen Copper.... 14
6 N O Tex & Mex... 77)4
. N Y Air Brake 34
,. NY Air Brake A.. 50
0 N Y Central 98ft
S N Y r & R L 1st pf 99
. New Yetk N II & H 29
5 X Y ft Harlem 132
2 Xcw Yerk Ont & W 2374
7 Norfolk & Western. 119ft
C Xertli Amei lean .... 95 ft
5 North Pacific 84 ft
. Ohie Bedy & Blewer 6)4
. unt Sliver Mining.. 7ft
. Okla Pred St net... 2ft
. Orplieum Circuit... 21
. Otis Steel pf 53
2 Owens Het Mnch.. 39
Pacific Dcvel Cerp. ,'!
Pac Gas ft Elcc... 79
Pacific Oil 49ft
Pan Amcr Petrel. ... SO 74
PauAmcrB 8974
Pennsylvania It n. . . 49
. Pcnn Seaboard Steel 3
5 Peeples Gas Chicago 93
. Pcre Marquette.... 24ft
3 Philadelphia Ce.... 40ft
2 Phillips Pet 46
. Plerce Oil 5
G Pnclllc Tel ft Tel pf 90
. Pierce Oil pf 45
4 Plggly Wlggly Stere 42 Ji
. Pitts Ceal 5774
. Pitts ft W Va 37 ft
6 Pitts ft W Vn Pt. . . 94
Pend Creek Ceal... 19
Pestum Cereal 108 ft
Pestum Cereal pf..110
7 Pressed Steel Car pf 99)4
Producers & ltef... 44 jj
100
100
100
, 100
200
103
tee
100
100
100
10003
103
200
100
100
200
6203
900
"4200
930
300
200
1503
1430
2103
200
100
100
903
100
100
203
200
100
100
4933
300
200
803
100
700
100
6203
tee
3403
100
100
1303
409
3900
100
500
300
900
100
1303
203
200
22703
6400
5800
3100
333
930
1800
200
9500
1100 ..
100 C
600 ..
1400 4
1203 ..
603 ..
103 0
400 li'.
1033 r,
100 8
100
11600
2ft
i
1
ft
(4
ft
4
:
'a
1ft I
&'
?a
1ft
Vi
V- '
'
ft
i ft
H4
ft
ft
ft
1
ft
14
74
3 74
'a
100 .Vi Producers & Rcfpf
400
200
1830
50
1033
5600
403
103
1603
6100
600
1303
100
tee
4200
43 ft
(1 Pub Ser Cor of N J. 95 ft
R Pub Scr of X J pf.105ft
8 Pullman Ce 126
. de Odd Lets 126)i
. Punta A'egre Sugar 427s
2 Pure Oil 29)4
8 Railway Steel Spg..115
7 Rv Steel Spg pf 118
. Ray Cen Copper... 13ft
4 Reading 8174
. Replogle Steel 28
. Repub Iren ft Steel. 49
. Rp Iren & Steel pf 82
. Reynolds Springs... 1674
5 Reynolds Teb B 57
2500 1.13 Royal Dutch X Y. . 55)4
St Jeseph Lead.... 18ft
St Leuis San Fran. 26
St Leuis Southwest. 32
St L Southwest pf . . 54ft
! ?4 I
Si
Ml
4 '
1ft I
J4
11J -115
4ft .
3J
.
114 .
31
32 24 74
23
104 -
I18ft-
1 1
51ft (-
14-
57ft
I-
!i
19 50)4-21ft-2
I
43 ft !
39 ft -100
31ft
ft
ft
ft
Hi
ft
200
600
803
503
COO
200
300
600
100
300
10303
103
2903
103
4200
2100
1100
4300
5100
200
300
400
400
23600
" 200
3200
1030
6903
2400
400
1400
200
3100
403
1300
3400
203
100
1500
3100
100
500
100
3800
300
400
10500
1400
800
300
25200
200
200
2330
330
2500
200
1200
1803
2400
103
303
1703
800
400
100
100
3500
600
400
430
400
330
103
2700
1200
600
930
200
100
200
Savage Arms 19
.. Saxen Moter 3ft
.. Reab Air Line pf . . . 97d
.. Sears-Roebuck .... 84
.. Shattuck Ariz Cerp. 8
fi Shell Union Oil pf. . 93
2 Sinclair Consel 32
8 Sinclair Cen pf. ...101
.. Skelly Oil 9
.. Sless-SheOleld 43
6 Southern Pacific... S3ft
.. Southern Rail 24 ?i
.. Southern Rait pf . . . 6SJ4
4 Standard Oil of Call 19ft
B Standard Oil of X J21 1 ft
7 Stand Oil of X .1 pf117
3 Sterling Products. . . 56
4 Stewart War Speed.. 51ft
4 Stromberg Carb.... 51)4
le Studebaker 128ft
. e?
, 5
. 9 5i
. 48
. 63
. 26
. 23
.1331',
, 31
. 55
. 81 a
Sub Beat Cerp
.. Superior Oil
. . Tenn Cep & Chem.
3 Texas Ce
4 Texas Gulf Sulphur.
. . Texas & Pacific. ..
1 Tex & Pae C & O.
. . Tidewater Oil
i Tlmken Rell Br. . .
. . Tobacco Products.
7 Tobacco Pled A. . .
.. Transcontinental Oil 14
2 Transun Wms Steel 32)4
fi t'nlen Bug ft Peller. 69ft
. flilen Oil 16ft
10 Union Paclfle 145ft
4 Union Pacific pf.... 77ft
.. United Drug 78
.. United Rwy Inves.. 12J4
.. United Retail Stores 84
. U S c- I P & Fdy. . ZB
. . US Feed Products
..US Ind Alcohol...
. U S Realty ft Imp.
..US Rubber
8 U S Rubber 1st pf
S U S Steel
7 U h" Steel pf
3 U S Tobacco
2 Utah Copper
.. Utah Securities...
.. Vanadium Cerp...
. . Vn-Car Chem pf . .
.. Vlwideu Inc
. . Wabash
. . Wah.ish pf A
.. Wabash if B
1 Weber & Hcllbrener 1 1
.. Western Maryland. 14
.. W Maryland 2d pr. 24
.. Western Pacific... 16ft
B Western Pacific pf. 57)4
7 Western Union Tel.111
4 Westing E & M.... 60ft
.. Wheeling & L B.... 10
.. Wheeling & L E pf. 18)4
2 White Eagh OIL... 30)4
4 White Moter 48
.. Whlte Oil Cerp.... 5ft
.. Wlcklre Spenc 3tl.. 10
.. Willys Oxerland.... 6
.. Willys (.nerland pf. 30 ft
.. Wilsen S. Ce 41
.. Wisconsin Central.. 28
5 Woolworth F W... 183 ft
7 Woolworth F W nf.125
1 Wright Acie 10ft
6ft
. 67 ?i
. 89)4
. 52)4
. 95 ft
.106ft
.122
. 58 ft
. 62
, 18
. 40 !4
. 62
, 13Ji
. 10ft
. 29 ft
. 19
Ux-ulvldtndi.
Leir
6H
172
82
74
25)4
67 ft
121
SB
1914
12
50
161
121
55
SO
31
32 ft
54
52)4
57
66
31ft
14
28
48 ft
48 ft
14
'?7
222 ft
16
15
27 ft
12
30
1014
35
16
41ft
18ft
52
70
108
20
14)4
9?i
13
230
56
1
63 ft
108ft
3ft
13ft
77
33
50
97 ft
99
28
132
2374
119
95
83)4
6ft
7
21
53
38 ft
2
79
46 74
89
88 ft
48 74
3ft
92
33(4
40
44 ft
5
90
44
42
57
37
94
18
108
110 '
9974
42
43 ft
94
105ft
125
125ft
42
28
115
118
13
81 ft
Z8
48
82
1674
56 ft
54
18
25
32 ft
54 ft
17
3ft
9 74
83
8
92)4
32
101
9!4
43
92 ft
24 ft
65)4
118
208
117
56
51ft
50 J4
125
6
5
9
47
62
26
22 ft
132
31)4
54
ee
14 '4
32 ft
69)4
16
144ft
77 ft
77 r
12 ft
83 ft
27
6
65ft
88ft
51ft
94
105ft
121
58
61
17 ft
39 ft
blft
12
10ft
28 fi
19
1114
13)4
24
16)4
571,
110)4
59ft
9
18)4
30ft
48
51
10
6
38ft
41
20
1 83 )i
123
10 ft
tiin
p. M,
6 .
172
82 '
74
25 ft
67 ft
121 -59
50
161
121
55
90
31
Nat
Chte.
2tf
1
32)4
ft
57
1
V
ft
I
N LOCAL MARKET
Lake Superior Made New Lew
. for Year en Relatively
Small Offerings
The Unproductive Dellar:
rWXM
r.iX?M
fi&vi
.' KV3
-I
4
14 - 14
20 - ft
40ft- 1ft
43)4 ..
14
144 10(4
17ft-
224ft 1)4
16)4 Vi
15 ..
27 ft -
12 14
31 (4
10ft
35 ..W
16 -
42 ft
1874 14
52ft- S4
70- H
108 - 2
?.0 - 14
14J4 ft
9ft
13 ..
230 - 2ft
5b - 1
1
63 ft 1- )4
108 I-
3
14
77
33 - 1
50
97 ft
99
29 H
132 - 4
23?i ft
119
95 ft !
e4ft
6)4- ft
7ft-
2ft ..
22
53-2
09 ft A 1
2 -1 ft
79 ft
47 14 - 1
90 74 I ft
The local market showed nn incllnn
lien te slip bnek. This was mere be
cnuce of the lessened buying newer nnd
.the. narrowness of 'the market rather
fli'rtn tin' reult of nny nrent Influx in
felling orders. As rensennbly would be
expected. In view of the changing ns-
...... .. I.A ahII-h Lennrltv mitruef- Sit
66- ft unljett, there win n noticeable; Increas.
31 ft - ft ing desire te reduce nil market com
mitments. , ,
The. latter condition was rencueu m
the' increasing number of transactions
in betni of the recent nctlvn favorites,
the denllng". in which during the Inst
few days have been en the perfunctory
order. The Htneunt of liquidation was
comparatively small, nnd, eensldcrlns
nil circumstances, the market took well ;
in fact, much better tlinn could reason reasen
ublv linvu been expected.
Weak spots were few nnd far be
tween, although most of the local stocks
showed n drooping tendency. Lake Su
perior was among the softer spots, es
tablishing n new low record nt 0. The
offering were very light, indicating no
urgency in the selling. Twe striking
Illustrations of the narrowness of the
mnrkct were given In n point decline
in Klwnlelir te 84 nnd Ivi in I'biladel
pli in Company te 4(H6.
IJ. ti. J. gave tunnel' greunn en lim
ited Mile te GOi, or mere thnn 3 points
from the lop price made last week.
Fractional shading also occurred In
Philadelphia Klectrlc and I'. It. T.
Union Traction, however was an ex
ception, with a 1.4 point advance.
'American Stores, nftcr dipping te leJ,
rallied le 1e.".i...
Prnnt.ylaiil:i Hnilrend's dip under
41) wns hemewlint disappointing In view
of tiic highly favorable statement of
earnings for September, which came in
for mere attention because of conlier cenlier
able difference rfiewn in the reports of
ether large systems, all which hhnwing
serious inroads en revenues iiinc' by
the shepmen's strike. The "Pennsj
figures were very encouraging with n
ncerd gie.s return for the month. I it it
deiiblvdlv the beard nnd these gratify
ing figures before thcin Inst Wednesday
when thrv icstered the 0 per cent divi
dend inte". Then "lViinsy" handled the
labor troubles with n mere sensible and
sclent Hie policy.
The statement for September showed
net railway eneriitin!: Income of SO,-
1.1)S.iVIU', en Increase of S.I,4."(l,0,Tr ever
September. 11)21. Tetnl gross revenues
were $(50,71 2..'U.". or S10,:i21,00 mere
that, u year age but rnilwny eperntlng
I expenses increas-ed !H,44I5,Oiu, te n
total of !f,i.!i;i,eia tins year.
Fer the lirst nine months of the jenr
gross revenues were .Siril).7."2,4D4, nn
increasi' of S.'.SSl ,!I7.'! ever lout year,
while nel railway operating Income wns
S:i(l,712,ri0.-f nn increase of .$32,S11.
til.", as compared with the correspond
ing period of 1021. Hallway operat
ing expenses, totaling $:i7."(.021.20 fur
the nine months, were $24,002,152 less
than yeni age.
89 1
4874- !
3 ..
93 -t 1
34
40 ft
45
90 - 1
44
42 ft :
57
37)i 94 1
19 .
108 ft
no -
9974-
43-
43 ft-
95 -
105)4-
126ft
126ft
42 ft r
29 -
115 -
118 !
13 -
8U4
28
49
82
167a
56)4-
55 J4
18 ft
?6
19
3)4
9 74
83
8
92ft -32
ft ;
101
9 :
43 -92
ft f
24 ft J.
66
118
210ft
117 -
56 !
51 Ji -51ft
126ft -
6H
5
9 -
48 ft
63 1
26 ,
-31
'
55 -81
ft H
14ft
32 ft -69
ft
' 16ft
1447, (.
77 ft -78
12ft I
84(4 4.
27 ft-
6 -
67 1
89 .;
52 '
94
106(4 )-
122
58 ft
62ft 1
18 !
-
13ft 4
1014 -i
The tame cash
will liquidate: a
aeries of btisi
ntta obliga
tions It perco perce
lales thru many
business channels.
mnWrrriJrrWnllmnrsmBWsriWrii
De you realize that there is probably"' Vf
wards of FIVE BILLION UNPRODUCTtVI
DOLLARS among the assets of business
concerns in his country IB.OOO.OOCLOOf,.
their capital doing nothing? Can they'ef they'ef
Xerd this and hew much m6re profit cewti
they make by putting that money te irerkT .
This enormous sum lies idle in the form ef
Credits Receivable the indebtedness of year
customers who de net even pay you interest.
If your Accounts Receivable were turned
into dollars and you discounted your pur
chase bills, and the concerns you paid in tarn
discounted their bills, and se en down freM
one branch of business te another dollars
in their Banks instead of Accounts en then
ledgers it is plain te everyone hew much
mero liquid each such concern's financial
statement would be, and hew much mere
they could de with this cash in place of their
intangible accounts en their ledgers.
Our business is te buy these Accounts, In
stallment Sales Contracts and ether forms
of credits receivable from Manufacturers,
Wholesalers and Dealers for cash and at
cost of probably less than the discount they
offer their customers for the money and we
will buy them when their customers won't
discount them.
Every ether kind of business asset has
(jeneral established market but only spe
cialized concerns, such as ours, are equipped
te purchase and safeguard intangible or
unbankable credits receivable. Why net sell
yuch assets te 113 en the very same principle
that you sell Acceptanct'3 te Banks or mer
chandise te customers and relieve you of
that financial burden?
::iuruiLrnnrfJ!i)i.n'a,.nmcr.;JniKiiriaTnuriiiuiinti.;iiifiinii:.iiHnniiipn; n'ii'riuri:n:n,iii'ainniimiuniinHuir:Hijinnunpi:miimmjMiimr'nmfeHHP5
Commercial Credit Company
Cash Capital and Surplua $7,230,000
BALTIMORE SAN FRANCISCO
Represented at Philadelphia, 1210 Stock Exchange Bldff.
(riirni. Spruce B31I)
Amiiiitcfi nitii
C0HMEBCIAL ACCEPTANCE TRUST COMMERCIAL CREDIT O0HFANT. IM0.
Clin Capital and surplua ti.oeo.ucu i.asn uapuai ami eurpiug jeuv.wu
CHICAOO
NEW ORLEANS
SniiaMea
ii
ft
4ft
Ha
2
4
ft
4
1
Ha
2
' j;
i
'a
1ft
Philadelphia Stocks
Illsh Ijdw
2." Am Ons. . "t" ""
tilt Am Sti..l.""li L"2
1(1 Climb Iren 41 41
7." Hire Ster. ." "
lll.itttcn Mtrs 14 1 1
Net
1 T M. c.hgc.
It ..
i
i.i
14
Vl
rfrta-il
gygP SECjjgN
ince 4
Life
Insurance
and
28 ft
19 -It
ft -14
J
24 J
16 ft !
S7 1,
HI i
60 -9-18
ft 4
30 ft
48 5ft
10 b
38 ft f-
V -i
28
10ft j
Raw 8ugar Active and Firm
New erk, Oct. 31, The raw auaar mar
ket la fairly actUa and firm, with Cubna for
N"oembcr elilpment nt ill, crnta le a
1 1 ills, rout hiiu friMKht
It Id Undaratnuil
hut 'abuut 110 000 tiHiia 1'uIj.im . for prompt
ahlimient are anltati1 lit 111" lilBtier IeipIm
Tl.nie uxru mi HAlca -iU'iilny ullur thnn
iliuae rt'lierlcil. Arrhnl of ma liirlinlut
10, MOO liasa Cubaa te Iho AunrlPan Susav
Jtellnlim Company and 11,000 (.'ubua tu (lie
Nadennl Susar Heflnlna Company. The
lecnl rrfWtt market la uiichannei, both aa
le condition an) price.
AR SILVER
Bar allvtr waa Hd lewar In Lanflen t
4MP, at IS 1I:1M,
Liverpool Cotten
Liverpool, Oct. 81, Spot cotton a in
limited demand today ylth intern, xtcady en
the baala of nn ndtunce of It pelnta for
inlddllnr. at H.KTcl. 'Ilie tmlea who 10.UUII
bale!. TIih tecnlpta Mern 111, 0(11) balea, In
cluding 1S00 bulea American, l-'illuiea weiu
loud In cuily cli'nlhib'i, Knet piIcph wetv;
Aniurtcan, niljdllnu fnlr lA.OSd: Reed mid.
illlnir, 14. KM; fully mldilllnif, U.71M; mid
dling. H..17d: low Hilddllnli. H.SVdi Reet
eidlnary, 13,5"d, and ordinary, 13 HIM,
ankere Meet at Down Town Club
Th annual meatlns of Oinup One. l'cnn
aylvsntk Bankra Aaaoclatlen, will be held
nut Monday ut 4 o'clock at tlia Down Town
Club. .
MONEY-LENDING RATES
M1W 10RK Jfeney en cull, both clasnet
nt collateral, opened today ut 6 per cent
for lending and renew Inc.
PIIIMIiKI.HliA- ran. r. 1-1 cent, nine,
I'a le 4 per tent, tuminciclal paper, tlue
tu sU muntha. 44 te 4 ier cint.
Ne Extra Dividend en Studebaker
e- lerk. Oct. ill. HtuOebaker baa d.
elmeil lb rpjv.'r ilivlri'iul of Sa.'Jil n thij
conimen .mil 1 15 en the preferred, lih
pajabla December t tu ateck of recrnd No Ne
ember 10, In July the dlractnr declared
an axtra dividend of $1.60 en the common
mention te incraaBimr In annual rata
."OtKcnn Cep .".Us :H; 31Ts vs
J00 LaKe Sup. li -
TO T.eh Val . . (IS 1S fiS 4- ' a
.-.OtMar Parry 2S 2S 2S -- v't
10."i O Ei.enl'r "" "4 74 1
HOtl'nu Oil.. 4S 4"14 -i"1! l!is
SlHPentmUIt 4!N -IS"
:10 I'hiln Ce. 4(l. 4(i'a 40j 1
IV) de cum pf 42 42 42 . .
2:!.-. l'liiia Klec si's :n'i ::i'4 J5
2!K! de pref.. l' :u',a .'tPi is
IU.-i I'liilu It T .".! :ti. V.l-- 's
-lOtKepleStl. 20-s 21T 20T, ii,
500 Tone Helm 1's l'a li 's
1110 VnienTiac 40Vi 40, 404 'i
275 1 ' U 1 . . . . ." I .re:(i nei 1 1
leutrs steei. ie.-n; ier:is ie."iR
1." War KVS. !)'j 11' i ft1..
5 Wcht Ceal T:i", 7.'l", 7.'!?41,-j
tNet thansc mad bv cotnimrlen llh latt
.il" en New Yerk KteiU i:chaiige.
P1IIUI)KU'II HON IIS
11100 l.lbertj 2d 4I',s '42 OS.. 12
lf'OO !,fi V con 41...1 '2,1 res. !I!)1S
.'iiHt I'hiln Klectrlc 1st 5s 101
200 I'hiln Klectrlc 1st 5s 100
(IlltiO I'hlla Klertric 1-t 5-...ln1.s 1)!)'.'.
1000 I'liilu Klectrlc (ii 104
HKI0 IlcadiiiK ccncrnl 4 SI
MARKS TAkFaNeFhER DROP
Decline te .02!8, Against Nermal
Quotation of 23.8
New Yerk. Oct. ill. As against the
preliminary Munintleni this mnrninc
tnnlvliir' n new low rererd for German
ninrU at .02U, the npenln? here today
nnc in the iievlniii extreme low record
of .02 il-10. as nRiilnst .02U. Monday's
close. Tin feature of the market was
cxten-le fevering of shorts in c
chnnge, with the result of gains of 8',i
in frnnc., 7 in I'dgluns, 10".. in tire, il
in Ilanl-li. 1!! in Norway and .1 In
gulldci. Swis weie down 2, pesetas
down ,1 and Swedish down 1. The re
bound in Italian exehance wns direct
ly due In cable advices of n mere
rcas-lriiiR eharacter relntlie te the
pelitiuil situation in Italy. Most of
the momentum pf 'he prevent month
was of -peciiinttVe origin.
tjuotntienh at ihe epeniiiK ere;
Sterling c.ibles 445I,!, dcmnntl 4 45's ;
frnnc cables 7.Q;H. clieeks 7.02'-,4 ;
Belgian cables fi.eil, tiiecUs tl.524 ;
lire r.ihlea 4,10'..., checks 4.10 ; Swiss
cables 1S.03, cliecks 18.00; peseta
cables 15.21, checks 15.22; Hanlsh
cables 20.10, checkh 20.14; Nerwav
cables 18. IS. checks ltt.1.1: Swedish
cebles 20 7", checks 20.72; guilder
cables IIO.OS checks .111.03; murks
.02 S -10.
In the Central Kuiepeaii exchanges,
HulBiiriiiu and Hiimaninii were tin-
I I'liangcd. I'elMi ul'-ii Meed at the new
low record i"-tablislicd yesterday. Ser
bian wns down 1:ij, Czecho-Slevnkinn
ft I iLiwn -h niul Austrian oil ., the lnkt '
lit te about the low record. On the ntlier
liunil, I'iiinisii rei-e li points nnd (, reeks j
gained 2. Hungarian was unchanged.
in; Kiimniiinii, ,
ti recks. 2.10:1
inn. .'1.15: .liiL'O-Shivinn.
.iXV'i l'uli-h. .007: rinnUh. 2.52:,
Aiisirinn. .oeiii'i.; Hungarian. .0004. I
The diniiiit en New Yerk funds in
Mellt-enl was utifliit iiirttl us fin. ever I
a week pat ill 'u te ft -.12 per tent,
Tlie premium en Canadian funds in
New Yerk w.is unchanged at H le ft. ,12
per cent.
YCSTUnUAY H CI.OSINn QUOTATIONS
Merllnu Kranca r.lce fJulMurs
rinmnnd 4.45'j (M141, .1 imi . as.its
Cablea 4 4ri tl 0.1 '5 3.011 a,0
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COl
JlWMItlllllHij
Statement of Condition
October 18, 1922
The Company's Funds are invested as follews:
Cash $291,885.S6
Leans Secured by Collateral 1,139,147.38
Leans en First Mortgage 2,166,190.90
U. S. Government and K. R. Bends 621,142.03
Commercial Paper 127,777.35
Banking Heuse & Other Real Estate 234,481.56
A Total of $4,580,625.08
Te Protect $2,423,447.81 of Deposits
T. MORRIS PEROT, JR., President
United Security
Life Insurance and
Trust Company
of Pennsylvania
603 Chestnut Street
Philadelphia
1
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ft
ft
H4
ft
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'4
H4
Preferred Stocks
of certain com
panies provide
A substantial income
2. Adequate safety
3. Satisfactory marketability
Possibility of appreciation in
value
Exemption from normal federal
1
4.
5.
income tax
TTrtfa for descriptions of
fc- turh preferred stecfti
Auk for l.Ut Ae -3ii
Bonbright & Company
New Yerk
437 Chestnut Street, Philadelphia
Bosten Chicago Detroit
4
4
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l.'iiutatiuiis : Tlulgnrlan
.lili ; Serbian. I. (Hi
tVeclie-Sliiiakiiin,
of 17 te (10 i bar.
TODAT'S Ol'UMXO Ul'OTATtON.l
Pcmand
Cables ,
HlmJ.ni: J'rmica T.ira Uulblria
T.,U'i "-7. ,,11, .11,111
4 15 'j 7.0.1 13 ! 10 Vj 3-j etj
KKCKNT rOMTICAt. EVENTS
I'hatearaphtra liava lnew buay m Knulnnd
the; laat few- wee!'", wltb cablnat rliane.a,
nelltlcal actlvltlea. prier te the 'Irctreti.
Many axcaptlenal i.wa, repreducad In aapla.
apprar In tha Rotegravur. Sartten of th.
ta.,nrfv ttff,.n I.M.t Kll.b. f. . -w.X .7
vnt,
.Jta
NVeuld you recommend m
tin box as a place for safe
guarding valuables in
preference te a vault
made of steel plate?
Ne, of course you wouldn't!
And yet many pcople still
pluce their cotifldenco in a
small tin cash box. The cost
uf a Safe Deposit Bex is
trifling compared te the ab-i-elute
sufcty nfTorded. Hers
your valuables would be read
ily accessible te you at all
tines, yet hopelessly beyond
the reach of robbers or the
elements,
North Philadelphia Trust Ce.
Bread St. and German town Ave.
Above Erie Ave., Philadelphia
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