w
Lf t
WW
,
.
j't'i"
pppplf
GOSSIP OF
; THE STREET
IJVBNINO FDBLIO (LEDgER-PHIKAPBaJ'HIA. WEDNESDAY. NOVEMBER 16,
1922
th old timers-were shocked
hTwiur. of Wassermann Brethers was
llde en the New Yerk Stock Ex
. .. Tii name of Jesse Wassermann
Wm "Sdellbly inscribed en ths
jSUf rf "he memory of .very trader
J i?, collections of the exciting days
K&Unt " round 1000 and 1010 when
iSat stock took the skyward course.
las Jesse Wassermann who end
SJed that fme movement, nml he
i always looked upon as n neadlng
Kler A host of friends were put en
Tst're et ns n result of his wonderful
S1 nml faith in the stock he handled.
WR".nil. i. nl,l house of Wasser-
. 10BJ. I. - h ..rr.Mlt firm WO
sarin jireini-r. .. ... .: -----.:- ..
a ii. ..., ;, -,:- ..
Iriinlw In Mnrcii, i. """,?
Kith of Kd Wasscrmanti, nnd took in
?atn "L. eii.mi.nt of the family.
, Wrnann retained his Interest
tm,h firm and was the fleer member,
ind I Ims been a member or the excuanae
ejnee 1883.
Hani Read for the Feet
.. i l.. Imnt alelillnff far n nutn-
11 ebb ucch "-.y-v- "TtJ -i . ...
Wr of the DOD-innea poi "
Erket turned turtle. These spe-cu-
Pf? l.l...tAn tinf fth hlff 101
E. but the secondary, class who did
net complete their dbtrlMtionpner
&l.ld!eef last month, find the, hare
"K. il Miln mnrkpt from which te
mike their escape. Most of the mere
jnflucntlnl peels, or bullish combina
tions, slid out from under when the
BlfhViccd Industrial HiKclattlei were
trying te reach the clear blue.
As one observer remarked yesterday :
'An examination of the curent market
esilp conveys the direct impression
SMPticnllr every bull peer Is fast nnd
i(.i nn the rocks. Ureatlcastlng in-
" 1- At. I Mn.t til A
ftrmatien sucn as mm .. w -
.... .l,nf oil nnnla ere about te Cel-
I lapse must be taken 'or what It la
lirerth, and this Is net much.'' nThnt Is
true, as mew . me p yej....
ftr the fourteen months' uplift in se
curity VSIUCJ inuuc wren "
comfortable money in the last two
Months. It is n well-known fact that
four poe' which played a bl part in
tk. bill market of 1022 wound up and
quit practically when the upward move
ment reached its crest October 18.
Power and Light Bends
' Harrison, Bmlth & Ce., in a circu
lar letter, present nn unusually in
Srtstlni: discussion of the position of
the bends of utility companies, particu
larly these corporations in the power
ud light business. They say :
"The report of the Committee en
Public Service Securities submitted te
tie Investment Bankers' convention
jut month notes that public utility
mertMge bends nnd even preferred
etecks of the best compenles can new
be sold with comparative ease, such
bends being new legal for savings
becks and trust funds in twelve States.
At the same time, however, the com cem
Bjlttec feels that a larger proportion of
capital than has been the practice In
recent venrs should be raised by Junier
financing nnd states that it Is still diffi
cult te market public utility common
etecks, se as te provide the proper
twain for the- senior securities.
"Thi problem may be met te soma,
extent by the present tendency toward
consolidation. The larger holding com
panies can usually obtain capital, net
merely through mortgage bends of the
operating companies, but by collateral
trust bends secured by the stocks of
such companies. Such bends should be
urchssed with care, but in tbe cases
larger cempnnles with business risks
(tattered in different territory tbey ere
often geed semi-speculative invest-
Bents."
Philadelphia Industries
"The great industries in the Phila
delphia district are giving a geed
account of themselves and developing
iradually. tee kind or business which
will produce satisfactory profits Inter
c," says William A. Law, chairman
et tbe first National Bank, in the
months review of the business and
financial outlook by that institutien:
"The general situation in this re
spect is also highly satisfactory and,
while there are complex problems te
work out before the country gets back
te normal, the gains of the last month
show that the nation, en the whole, is
waking excellent progress. In textile
lines, thsre have been Important gains
ihewn nith the resumption of activity
by merchants and ethers who for a
considerable period bought little or
nothing. It is clear that the country
Js emerging from the period of hand-te-mouth
buying and is entering an
m of Increased industrial activity with
greater confidence and broadening trade
"we distinguishing features.
This is a healthy sign and reflects
a public senttmeut which is very dlf
i!v(n Xrem thnt encountered last year
iMnWate their wist imiebtettnaa. nn.i
en i prevailing prices for many com-
wames were below the cost of pro pre
Auction, (hit of this has developed a
situation where numerous weak con-
2JS. been weun(1 UD nd both
Reduction costs rnd operating chargea
SLfa,1JFirMr,"e? ,n.tbe effort t0 weure
?k?an.'1 ?"!:' lcvel nt wn,cl te finance
country's business."
Western Meney Condltlena
l. ,fc.ag0 n',vlces state the money mar-
h'eu,0 the West holds steadv.
aiJ. Lraws indicating little change
c.uuri.r.trlfle h,her tbn ssaa
Wtt1 ,lnK'eneral 0M satisfactory,
SnKS. "'"hants report bujlnir by
Z0t fA A" the wVy of trnnsnS?t.
imiL. "' ",r'i transpertat en Is
tt'lW.entceSntrV8
ctntera fn .C. Vl "iJU" ib larger
jaws ter the assistance nsimllv Jn.
3ed in en "i" ferwHnw are
Rnmi '1 n',mnl way.
Stdftht ,arKuer bfl.nks "" nng
Sff.. ?..b' . ?. 'Pr Hbernl nc-
. d.'fortateDrx "crcaM ,n
Meetlns Actual Requirements
!.V,ndtaZ. ",B2Sa!?"'- n"
ItOkM iinnn k fimi-iiib; nruers IS
3 aWJS - -nVumers
MU1 indli.!,' n,ew BPlatIng in
M reeuPrlme.?r(ler" P 'w ""elr
shlSd ntS "" they enn Me
by one nf iJ: n ,'nve-tigatien
wnt tenden?v h ,,ea,ers dlncltwetl
y A. "reSufa?'.' 2Sffif effe'
the'ci?' ! ray "terk,
f"8 i , -UUe-?i..tr",d,n,f yterdny
M te he ' ;h'w 8p nnrt M
operation, v ,t.mpt t0 blis
4l tan. a 7 rend,ng Stock Ex-
"tmal nfA,11vanct'? occurring in
tri Sffiff ' rfWar movements
WmnriSSr lnt? . declines when
IrYt hour n. F ' "water part
I ' ther'. 5.ur,D the remainder
S l2Jr!.WM Inera crum-
.tk'.;-T -? ,rv
Issues, Including these making substan
tial gains in the forenoon, joined In a
downward movement in the last halt et
the davj and before the dose ntnrl all
the active stocks showed losses ranging
irem x te ever points.
Thcre was the usual seeking for cause
and reason in connection with these
severe louses. There was again a dis
position te attribute much of the mar
ket unsettlcment te dissatisfaction ever
election results, but the fact remained
the selling movement started Reme time
before Election Day. Reference wns also
made te the change In condltlena after
tbe Standard OH of New Jersey an
nounced Its issue of new stock would
net be accompanied, by any increase
In, tbe aggregate of dividend distribu
tion. Many ether incidents, Including the
disaster te the Greek troops, the resig
nation of Lloyd Geerge and the attitude
of the Turkish leaders were brought
forward ns reasons for liquidation, but
the improvement in sterllna exchange
must be regarded as indicating some
etner nasls for the renewed decline.
Special incentives were found for a
collapse in values of a number of in
dustrials, the break of ever S points In
Crucible Steel being a natural sequence
of the unfavorable showing made In the
annual report of that company. Con
solidated Gas reflected . disappointment
ever the financial plan from wmen se
much had been hoped. Peel liquidation
from nil Inilleaflnna nlnverf a mere Im
pertant part in forcing the decline than
any einer tacter.
THE TRADER.
U. OF P. STUDENTS OBJECT
TO XMAS HOLIDAY CUT
Usual Twe Week Curtailment te
Ten Daya Brings Crltlelem
The curtailment of the usual ..two
weeks' Christmas holiday for students
of the University of Pennsylvania Is
the subject of criticism 'in yesterday's
issue of the Pennsylvanlan, student
dally.
Reflecting the attitude of the student
body, the editor of the Pennsylvanlan
points te the fact that the University
this year is allowing but a scant ten
days. Including Saturdays and Sundays.
"This shortening of the holiday,"
says the editorial, "has Inconvenienced
Middle and Far Western students ma-'
terially. The conscientious men who
prefer net te take many cuts are forced
te remain en the campus until the Fri
day evening or Saturday morning before
Christmas, and are thereby practically
prohibited from reaching borne until
many of the attendant festivities- have
passed. Pennsylvania has n great num
ber of undergraduates who come from
afar, and some consideration is due
them.
"Many universities in the East are
closing December 10, and ethers, en
Wednesday, December 20. Could net
Pennsylvania fellow the lead of the
latter? By beginning the recess two
days earlier the taking of 'cuts' en a
wholesale scale will be discouraged."
ASSESSMENT INCREASED
New Hemes Beest 22d Ward Realty
'Valuation for 1023
The assessed valuation of real estate
In the Twenty-second Ward for 1023
has been Increased several million 'dol
lars because of the erection of hundreds
of dwellings in that part of the city
tbU year.
Most of the new homes were erected
en the east aide of Germnntewn, be
tween Chew, Crittenden and Haines
streets, north of Chelten avenue and
between Chew and Magnelia streets,
in the vicinity of Price, Rlttenheuae
and Haines streets. The improved
properties were given full improved
ireperty valuations by the. assessors,
tebert Grier and Frank J. Tobey.
Business property in Germnntewn
avenue between Penn street and
Scheel Heuse lane was also increased in
the assessed valuation, because the Ger Ger
mnneown postefflce new is en Coulter
street near tbe avenue.
Mr. Tobey sat in City Hall yesterday
te hear complaints against increases
next year en property previously
assessed.
PRISONER KILLS QUAR-L,
lx Other ttaJftBes) by Murder Cen
vict at Leavenworth
leavMiwerth, Kan., Net. 15. Jee
Martinet, a Mexican murder convict,
faulty aUbbed' A. H. Leenard, . cap
Uln of the guards at the Federal
Penitentiary here, and knifed six ether
guards. Martinet waa captured by
guards after he had been, shot and
pelted with coal In the bunker, where
he hid after the stabbing. Hospital
authorities) aUte he haa a fractured
skull and may net live.
After prisoners had been taken te the
barber shop yesterday, one of them
warned William Deldge, a fuard, that
Martinet wae carrying a knife. Deldge
demanded the knife. Martinet replied
by Stabbing the guard. Jeseph Durkln,
another guard, approached and at
tempted te disarm the apparently crated
man. Martinet stabbed him. Captain
Leenard then rushed In and tried te
ebtnln the knife. Martinet stabbed him
in the left aide, the blade entering tbe
heart. Other guards had been attracted
te the scene. Martinet then knifed
Guards Martin, Lengyel, Geerge Legan,
M. F. Dunkel and James Oalvin.
Leenard is survived by a wife and three
children.
DELAY CHURCH DEDICATION
TO OBLIGE ROCKEFELLER
Daughter's Debut Cenflleted With
Opening of New Kdlfiee
. New Xerii, Net. 18. (By A. P.)
In order net te conflict with the debut
of Miss Abby Rockefeller, only daughter
ei air. ana Mrs. jenn v. Kecaereuer,
Jr., the dedication reception of the Park
Avenue Baptist Church, recently com
pleted, haa been postponed from
Wednesday evening. November 22, te
the next night.
j.uc :uurcu, mciuuing luc no, vu.i
$1,500,000, and the Rockefeller family
gave oeiiar ler dollar ler every etner
contribution made te the building fund.
Tee date of the dedication was set
while Mr. Rockefeller, Jr., waa in Bat
tle Creek, Mich., recently.
Unon his return he learned of the
date and remarked, "Well, that's tee
bad. We're going te have company at
our house that evening and I can't
come." A hurried meeting of the trus
tees was held and the reception date
changed.
COMMERCIAL AND
INDUSTRIAL
Real Estate Mortgages
Negotiated
VfrHYiiLS0H6Gb
1617 WALNUT 8T.
h Continnew Bntfntw
WMmUr
MOYBRfrCa
Ml
SAY RUM RUNNERS PAID
WITH SPURIOUS BILLS
Twe Men In New Jeraey Face Coun
terfeit Charge
Atlantic Highlands, N. J., Nev. 15.
Twe men, who gave their names at
David Geltzeiler and William Gallagher,
both of Newark, were arrested Mon
day by Secret Service agents en the
charge of passing counterfeit bills.
Simultaneously with tbe arrests police
here announced that rum runners are
being paid with spurious notes by boot beot boet
lecaer middlemen.
According te Chief Snedecker, cean-i
tencii iuuiiw " f uncu ny tne
boetleger "middleman" te beat the rum
runner for some time. Net enlv eh.f
but when sufficient liquor from the sea
Is net avauaeie tne uquer euyers turu
te shore "agencies," where, it is as
serted, liquor Is believed te be In store.
Counterfeit bills totaling S1D0O have
been recovered.
$775,000 FOR ISHAM'S SON
Trust Fund for Relatives; Divorced
Wife te Receive $25 a Week
Elizabeth, N, J Nev. 15. Inven
tory of the estate of Henry Heyward
Iehara. filed with Surrogate Codding
here yesterday, reveals his son. Colonel
Ralph Isbam, a former husband of Mm.
Karl Menael. fourth daughter of thn
late Mayer Gay nor, of New Yerk, in
herits S770,iHKJ as nis scare. Colonel
Isham, former aide en the staff of Gen
eral Hale in the World War. Is nev n
resident of Londen, England. The total
personal estate of tae late Air. Isbam in
$1,544,705, according te the Inventory
filed by the Union County Trust Com
pany and former Governer Fester Voor Veor Voer
hets, the executers.
Under the terms et Mr. Isham's will
the son receives one-half of the estate
and tbe ether half Is held in trust te
provide incomes for mnny relatives and
$25 a week te Mrs. Juliet 0. Isham, of
Maryland, divorced wife of the testator.
'FINE ARGENTINE CROPS
Wheat la Expected te Be Recerd
Production for Country
Washington, Nev. 15. Argentlna'a
1022-23 wheat crop probably will be a
record production for that country. The
first estimate, received here by the
Department of Agriculture from the In-
r . I 1-..lli..i jf ialiHiHaiBi .i 4
215,320,00(1
compared wim ieu,uti,uwi mi
The acreage this year Is 10,
ternatienal Institute of Agriculture ut
ttnm. ferwast a harvest of
busbels.cemparcd with 180,041,000 last
year. The acreage taw jcur in io, ie,
081,000, cemparetf with 13,827,000 last
Alarge crop of ents, probably n rec
ord one, nlbe is being grown in Argen
tina. The first forecast place it at
40.000,000 bushels from 2,618,000
acres, compared with 82.073,000 bush
els from 2,105,000 acres last year.
This year's flaxseed crop In Argen
tina, the world's larKest grower of that
product, Is ferecnutat (10.070.000 bush
els, alineHt double the crop of last year
and probably the largest ever grown.
P. R. R. Veterans te Gather
The secc
eml annual meeting of the
Pennsylvania System yeterau Kmpieyw1
latll'll, Kl'liemi UjUl-B, a-UilBUBIUHIB,
it tee
t. Thli
Me who
flee two
rshlp.ei
wlllbe helilat the Hellevuc-Btratferd
." .. I-!.- Thin HataWiaMatina mmi.
ininarruw iiibum
priiee only theje wbi
TTwSferihpi
inr. xnia aaawinuuB coin
these who haw feeea IcMhe
WWfi. II
H.HIS
Alan A. Alexander & Ce.
Stocks and Bends
Colonial Trust Bldg., Phila.
0a '' Cepjp of our Weekly Market
Letter. "Up and De waa"
S12.000 Ufa Inataraaea at
Ag 35 for $10.08 Par Mentk
PEARL SUDLCYV AGENCY
.Jtei nifaXCK e..1tHxii-,
"CapaaaMla tntnrane Slnea lies
Five) Year Geld Nete
Te Yiald Over Six Par Cant.
cured by a direct merttai ea all
property with boom of cemnii ateek of
MtabllsMd real rnmpnny. Mints owned
and operated In PennnjlTtnl and West
VUttnla. ..1MIU from Company direct
wlt&eut nbltcatleni.
a ut. ledeui ornex
wnfieiuwiafinrinnnrrinnnnitrmrmnnew
MAlNend COMPANY
Certlftett PubUcAccevntmts
: ftaiLOiNO Philadelphia
UUUUUUUUWI
fmnniumaeinnnnnn
jMAINendl
B ewtirkxtPuhb
I FlNANCK &UILOIFK
wwrauiuuuuuuuui
RacipaecAt, AweHpein Ymmwassm
Meame 25 Saving
Peajuylramia haleuit Esckaaia
mm Srsad 8b a Be. aa "
GUARANTEE
Trust & Safe Deposit Ce.
316, 318 and 320 Chestnut Street
1415 Cheatnnt HI. ft B. Bind Ba.
HORACE P. GRIFFITH & CO.'
Certified Public AccenataaU
FINANCE IITJILDINO, PhlUdelpbJS)
Herace 1". OttfflUi, O. V. A.
WUllard n, Olnder. 0. P. A.
Wm. Lewli McOk. 0. P. A.
New Yerk Curb
Exchange Securities
The furnishing of timely, accurate and worth
while information is one of the most important
services that a brokerage house can render te its
customers.
Our information files are most complete en the
active issues traded en the New Yerk Curb Ex
change. We have ready for distribution up-te-the-minute
reports en the following active issues:
Ang le-American Oil Philip Merris & Ce.
D Gulf Oil of Pa. S.O. of Indiana
D Imperial Oil, Ltd. S. O. of Kentucky
O Mercn Meters Tobacco Products Ex.
Check the reports yen wish and copies)
will be seat you without charge, or ask
rer lata report en the stock In which
eq Are IntfJicsteet
Jenes & Baker
Members New Wt Otere Exchcflfr
1 XMract Prtvata Wire
RtwTetk Cakan BMi.a Fkll4tll
PltMbatgli Oftnh Ititlntta Cltrthne
Ptulatlelphia Offite
WtdctMrBuOdieg
Sell. - . Leem 47 JO
KaTSteaa ftaca M61
Baltimore Office)
raaiiaim Hetai
1WahaMiFtan8l
J
"Free Advice" Is Dear
EvasT man wants or expects pay for his services.
Free advice is frequently given by these un
qualified by training, experience 'or motive te ad
vise correctly. Such information is usually in the'
end dearly paid for.
If your needs are for reliable and impartial advice
en any professional matters you go te experts in
such lines and pay for it. Why neglect te de se
when your needs are for unbiased advice en your
investments and security purchases a most vital
matter in your lifeP
This is the nature of ear work and we knew you
will benefit much from reading our booklet "The
Art of Wise Investing." Copy gladly sent gratis.
Moodys Investors Service
35 Nassau Street, New Yerk City
SOSTON
Ml MA St.
fHOADHLFHIA
RalBi Trait Us
CHICAGO
RntNaeiaaalBaaaBMf.
LOS ANGELS!
P.rii. Mataal BUa,
MADDOCK & COMPANY
Manufacturers' Suppllea Machinists' Toels
42 tf. 6TH 8TM PHILADELPHIA
ANNOUNCE THBIR PURCHASE OP THE ENTIRE STOCK
AND QOOO WILL OP THE MACHINISTS' TOOL, MILL.
MINE AND RAILWAY SUPPLY DEPARTMENT OP THE
FAIRBANKS COMPANY OF PHILA.
ALL INQUIRIES AND ORDERS IN THIS LINE WILL BE .
RBPERRED BY THE PAIRBANKS COMPANY TO MADDOCK
A COMPANY, AND WITH THE COMBINED STOCKS WE
WILL HAVE ONE OP THB LARGEST AND MOST COM
PLBTB LINES IN PHILADELPHIA.
THB PAIRBANKS COMPANY WILL CONTINUE THB SALB
OP SCALBS, TRUOKS AND BARROWS. VALVBS AND DART
UNIONS AND SPBCIALTIBS IN THBIR PHILADELPHIA
BRANCH. . j. wj ,
. i ! 1 Jl
,, ,.., r t . utf a . .. m '.it
i IBM a - z . : " u;
HALS IT. ITUAIT
C O
Xsifet4
500,000
Sioux Cky Gas and Electric Qnuipauy
Rnt Mettgjcge 6Jf Geld ueackf Scat A
PRICE
OOtX
6.01
a
Dee Sept. 1, H47
NceCafleWefcr
(Bsxeptl
Tiwa
JTr efatsaBrsf
MT.L.L. ttthff, Prnidnt
ftk Cm
aaafa. aaaaTlaai If ,
Ctmpmr, frn eekA tkt fnlmwrn tV
ZmVBEmmTEi
"A BeaBsla, afsa
nit
Tat, fcge Osaaweaaa
ssMsecaDB reeaT asSSj.aas
SbbK Of fJafJB ssaNsaVfJarX arJar" asw"
laieresc payable March A
and Septsjgber 1. aw
deemable upea 4eV
etke em SepesTaber t,
1M2. end ffcesesJter
er prtec te steaMejr I.
13 etlOTi
interest, ami i
er praair te SsaaMiajr .
1H1 at M aad
ieterest, i
er prier te March I, IMS
at leaMi aatd acenred la
terest, and thai rear at
100 aad aecreed isMetcet.
Forsfahangfeadpiinnsee,
bends are also redsaiaaW
from Otattariisr 1, 1W7 te
BOu lBCMaSBf SCytCafafsMa?
1, 1932 at lerK ami ma ma
eseed iaerreet, end there
alter at tbe
demptJea price.
aWe as te siaasasj. fa.
teresti
dexriee fer the Neat
FedersJ lnwi Test
er hereafter laweMy
tfttctibte at tree eesej
! csceee f 2.
Tbe Sioux City Gas and Electric Company, urarperrtad k
1901, under the laws of Iowa, heretofore haa dens) til tht abassL.
nets, as well aa a portion of the electric Hght and power ewnMBa,
in the Chr of Sieia City, Iowa. The Company it newjhcqmnng
the electric gensamtme; cunt and distrilwtkm ayttem Miwtofere.
owned by the Sioux City Service Company, thus piacaa; thai
entire electric light aad power and gat tnmntm in the City of
Sioux City under the ownership and management of the caesne
City G and Electric Company. The Skwx City Gaasmd Elec
tric Cernpany will also own mbttantielly all of the eutatattdins
capital stock of the Sioux City Service Company, which latter
Company will centimie te own and operate the street railway
and heatme; business in Sioux City.
These Bends, in the opinion of coenst will be scuTed bran
absolute first mortgage en all of the property, rights and fran
chises of the Sioux City Gas and Electric Company, the value of
which, as recently determined by exarriining engineers, is largely
in excess of the total bended debt te be outstanding upon com
pletion of the present financing.
Under the previsions of the mortgage, the Company agrees te
pay te the Trustee annually in each year beginning May 1, 1927,
a sum equal te H of 1 of the total amount of hends of this
aeries outstanding. Moneys in the Sinking Fund are te be applied
by the Trustee te the purchase and cancellation of Bends of this
aeries at or below the redemption price, or if net se obtainable
te their call at the rekmptkm price.
The Company hat just obtained a new franchise covering both
gat and electric service for a term of 25 years, being the maxi
mum period permitted under the laws or the State of Iowa.
Fer the twelve months ended August 31, 1922, gross earnings
of the properties new comprising the Sioux City Gas and Elec Elec
tricCempany including the electric property new being acquired
from the Sioux City Service Company, as certified by indepen
dent auditors, were $1,809,564, and net earnings for the same
period were $559,451. The annual interest en the Sioux City Gaa
and Electric Company First Mortgage Bends te be outstanding
upon completion of this financing will require $270,000. Fer the
tame twelve months' period, gross and net earnings of the rail
way and heating properties of the Sioux City Service Company
were $1,179,751, and $274,500, respectively.
All statements tiretn nr official or ate feaatd en Information which we rersnfl a rellabl, atifl. whS
we de net guarantee them.wa ourselves hart rellad upon them la the purchase et thla wcurltr.
HALSEY, STUART & CO.
INCOftPOrtATID
Land Title Bldg., Philadelphia : Phene Locust 7410
CHICAGO
TnnLADmXPKIA
M1XWAU
ST. LOOTS
smntxAPexrs
Sales
Managers!
SmJaFenamtjMt
OaBS MrTmc aYmmmmmm 9i$tamaww
In order te prove te you
that your sales can be in
creased 109& te 309b en
every dollar you spend by
the use of the Babten
Sales Forecasts which
cover every territory and
industry we want you
te accept the Sales Fore
cast Map for the winter
of 1922-23 without coat!
It shows you where bust
ness will be best in every
state in the union. Cen
centrate en these fertile
fields! Remember, no cost
or obligation just tear
out the Meme newand
hand it te your secretary
when you dictate the
morning's mail
TaarOaiaVaSaBe BtCaet ar SBSjsaasu
BabserVs
.REPORTS
Service fer ataseattvee
MEMO fir Yrn
Vrita Rabcen Statiatfcal
Wallealer HHls. J. Msss. as lottewc
"Plse ff rxl ma without charaa ar ahU.
I aatlen sample e( Sales Forecast Map Ne.
M I' copy ei j. page doesni.
M fnfil:
liisiiintistmti
BOND SALESMAN
A long - estftbllshea Investment
tuuiklnn heusa of the hlg-hest
charaoter lias an opening for en
expertenevti naleemnn In territory
nearby rtitlaclelphla.
The position prewnts a real op
portunity for n permanent con
nection with drawing account
against commissions te that man
who can rfftnotmlrate fitness ami
ability te oolong te a hlgh-grade
orgnnlratlen unil adunce Inte
cxecuthe iiosltlens.
AppllcAtleni will be considered
both from men who have aeld
bends te the better type of In
ester and fpm men who have
had actual selling experience In
ether lines.
In writing give complete Informa
tion regarding put experlenee,
age and education.
Replies) will be held In strletest
oenfldence. Address;
S. W. STBAUS CON
lf.11 Wataat SttM .' eSa,
New Issue
$500,000
Delaware County
Pennsylvania
4 Bridge Bends
NON-CALLABLE BEFORE MATURITY
?;"
Principal and semi-annual interest (April 1 and October 1) payabla at the Delaware.
County Trust Company. Chester. Pa. Coupon benda in denomination of
$1,000, registerable aa te principal.
FREE OF PENNA. STATE TAX. EXEMPT FROM ALL FEDERAL INCOME TAXE$.
fegal Investment for Savings Banks and Trust Funds in New Yerk
and Pennsylvania. Eligible, In the Opinion of Counsel,
as Security for Postal Savings Deposits
FINANCIAL STATEMENT
(Officially Reported)
Assessed Valuation, 1922 . . . . ? 155 ag6 34()
Total Bended Debt, including this Issue 'gOo'eOU
Net Indebtedness less than .6 of 1 of Autued Valoatien! '
Population (1920 census) 178,084
DELAWARE COUNTY adjoins the city of Philadelphia en the southwest
and contains the city of Chester and the important surrounding industrial
section, as well as a portion of the Philadelphia suburban district located en
the main line of the Pennsylvania Railroad.
Subject te approval of legality by Mesnrs, Tewnsrnd, Elliett & Munaen ;
Bends Maturing en or Before October 1st, 1940
Te Yield Approximately 4.05
Bends Maturing October 1st, 1941 te 1952
Te Yield Approximately 4
JANNEY & CO.
133-135 SOUTH FOURTH STREET
PHILADELPHIA
This Information ana tiieae atatiatlcs ara net truwantaed. but hava bean ebtaln.u from peuree . believe te be atturwta.
Railroad an1
Ttrmlnal endi
SHEAR, BAJtTON A CO.
ift&n
NEWBURQER,
HENDERSON t LOEB
Jtmesrs New Yerk mni
Jv4iS3laL"ei uX&mWmW&iM.: :
GEO. A. HUHN 4 SONS
blUL
tiM sib
y
'i
' , w
y rx
.?a
- &
t ,l. ij
!
2
fej
Ml
J
m
is
k4
laerwtllfce
$i
. - . . ' ', fj v
Ui '"...HajluUib&UilHr i.4fi
s-JSi
B9.Mm
f4Ta IT ' i i i '' s