?ra:wv'tfw IM ."tfiWcr vy"-yr rffW 'j. s'TiY 1VJ tt i-n : "W ''( PPijBPI 7.r,JBn Kywmur UtlVD K'. ' r , m MmjULTMUMMX V, pm-rv :.r- ry wm IP-"- ' I, i i i i j HP OF THE STREET i TZ .w-ftk'rirtd Ate yesterday's stock f i w1t',"aJ,..iiM-nt.' After fiilfSe Memln; morning dope "' t ,klv rcvlewH nnd most nil MJ hltctnturp, a mnjerlty OTJU 5? -He, n further SSryth. Aert inter. '. 5S T retrieving 01 r r !!:. i,. line. It dl I cnt declines nil !": t.i line, it ' "m "v..' m Vi p dope, there could benny SSfci' e it. " pet eiif . hew net seem, niter rttni ""'Vi.- j.v'ii hiiHliiewt cob under ?'",, majority realised there bud jS SJnwhSe bad em of mlscal lmrkct cccmctl te be found driln. U. eTjeveral niinlMcitlenH nereniinry '". ilipreeeerv movement nleng "L.I'T.riPd InSt week, the most con which ttrt I ln , fe I ttl' nmml lrtf ?ii very peer nunllty. At JtafiM7n5kkly dlxrevcred HKllallen of the fliert Interc SltVrcklmd deprlvc.lt ?' tt strence-t under 11 h teiimi the Mine the hnxty Ktihern.ere, many who bnil the lemer Km rick iip . In the recent slump 1W& rV.l n mWity tl.lt. n K, r Mdentewd te rnrfijn mnrlcct some a! the profile. Net only tnH it I ffin. nle diseeurnRlngly wft. ftriMnli'odteeurnRiiwy wk. . "wLnll. the nerfermnnee wen Wholly in line with precedent, eh the Recenunry Sm, almost certain te fellow. 12 "neclallv when It was cen-ddcrcd R tine being, nt lenst. Internal IJthir than outside conditions In the propelling motive. In Reports Discontinued "There un n disposition In mnrkct i1m vciterilav te attach cennlderubic ffinncc te the action of the Stock Sctanie In disceiitinuliiB reports of Inters' en" e"l time-mency borrow ls ruling: eliminates nn order that nt into effert September (1. 1018, nt tie Inntiiiiee of Governer Htrpnc. of the rilernl Hcerve Hank nnd chairman of the wcalled Meney Committee of Stock 'nxclinnue formulated n com cem Bilttee of five te co-operate with the Meney Committee In curtnllliiR loons. At tbnt time brokers co-epnrntcd by rrtderinif lean rcpertn. but it was seen trident that little progress wus being Side In lean contraction nnd further Itepswere necesnry. Later the Meney Committee took drastic action of recommending te banks the raising of margins upon Stock Lx thW leans from 110 te .'10 per cent an means of checking cxpniHen. This requirement was effective November 4, 1018. , , . That progress was made in remedy hr bltuatlen was neon evident, ns en December 4. 1018, Meney Committee, It the urgent request of president of Stock Exchange, restored old margins en leans, whereby banks leaned J0 per tent Instead of 70. thus reducing uoeunt brokerage houses hud te put up from 30 te 20 per cent. .... The waUing of this order cllmlnntcs .ruling that has been effective for mere thin four cars and einphnslzes that credit structure of the Natien Is thor ther uMy sound, irrespective of volume of nosey recently being used In Wall Street. The Central Indiana Power The Central Indiana Tower Cem ytny, who subsidiaries operate olio of the two electric light and power com putes in Indianapolis, nnd nlse de the entire electric light and power business in seventy ether Indiana communities, hi told !$4,1M8.000 of Its lirst mortgage collateral and refunding 0 per ecnt geld tends, due July 1 1047, te n syndicate heidcd by Hulscy, Stuart & Ce., nnd Including A. 11. Lench & Ce., Paine. Webber & Ce., Stene & Webster and Spencer Tresk . Ce. The bends arc king offered nt O.'i nnd Interest, yield hi about 0.40 per cent. They nre non nen allable until June ItO. 10:!L', nnd will be tecurcd by u first Hen en the out eut ittnding bends, except $1 ,504,000 di-UIenul bends and en net less than 75 per cost of the Issued vt.tlng stock of the six eperuting companies. Consolidated earnings for the year ended September HO, 1022. are reported II follews: iresn, .S.i,120,;i53; net, 11,740,518 ; annual interest require ments en all first mortgage collateral nd refunding geld bends and divisional bends net pledged, S7M7,7:iO. American Sugar Income Fattened Declaration of .$1 n share dividend, If continued quarterly, en the new $2."i Pr value stock of Great Western 8unr Company will mean an increase In American Sugar Hellning Company's unual income from its investment In Great Western of S'lSK.lKfU, equnl te 11.29 a shure en American's $45,000, COO common. , The new Cirent Western stock is .noted around .f.se share, giving u mirkct alue of $tl,07S.72(l te Ameri can Sugar's holdings of H.".0s4 hares. Amerlcna also owns .?.", I.jOJOO of Ureat Wi stern 7 per cent prcfened. uffi""" of ?' apparently pluces le.tXK),t)00 (ireat Wi-rtern comn.en of go par en n 10 per cent numml basic s-"nJrled of high sugar lirlccs ureat Western paid regular dividends ?f. ?, per CPnt nml e4 dividends WUIinj 40 per cent nnnualyl. The 10 SJL"2', .eS2 ,l,e "'""non will re Wire $2,400,000 annually. -niiat "M,ern preferred, a non nen cillaWc cumulative 7 per tent sreck, ii outstanding te amount of $15,000, - If it's a YEARS Proven Safety W.VW1WU.UUI uu nrai mungage Keal Estate Bends means max imum investment safety. This is natur ally se, because the thorough test of !,m?HsPr-ev?nifreenebu1-- Bends te be 100 Safe Since 185S. , Fer ever two-thirds of century prin cipal and interest en every Greenebaum Bend has been promptly paid when due. . Invest your funds in these sound secu rities and enjoy, the feeling of satisfac tion that gees with our unequaled record -67 Years' of Proven Safety. This is the title of a new folder which explains why Greenebaum Bends are 100 Safe. Call, write, or phone for it today. 61 Coupon Bends DwomlmtieM $100 $500 $1000 Siatrtdb hnmi.Pniucint CtyalE,tati ureeneDaum sons mvestmentCesfcaffi St. Leuis-CHICAGO-MUwaukte Gweahmd(mif'ioefMMei PhllalAlnkl DA......i suite 408-215 S. Bread Street-Phene Spruce 9336 tOldeat A VgaMBgaVBaBaaBrai Tim Mortgage Wanking Heuse requtfe-AenU' ii Foreign ExdwHie SltMtlen Irrespective of ether considerations, the strength of sterling, which, strangely enough, is said te be a sur prise te Londen, is chiefly attributed te the increase in ltritinh tm-ti nn,i i... enhancement of llritish credit through us iiujruiriifcei oengniions 10 mis coun try thus far. It is reported the Uritlsh Oeyernincst had n surelus of 244,000. 000 of revenue nve itun,1Uiira uf h end of the first seven months of the fiscal rear. In regard te the French position, It ,7 i im uuivu ide acei or tne French Oevernment te the Bank of France has been reduced te the lowest point since the war. At the moment. French and i.l-ibui.i exenunges, particularly, are mure imeiy ie ee inuuenced by political considerations than by actual business. ti i peintea out in' regard te sterling, nslde from conditions affecting the busi ness or ureit Britain, many ceunutrles nuvc ier a great number or years been accustomed te use sterling as a medium or ineir international obligations. North American Oil Mix-up Nflrmnlti. T. fla-ku... ,1 . . m u.,.uvu. .,, yruiuweu, presiucnc et ii i, f or" e,0CK Kxchnnge, issued Kl'0110?". statement late yesterday : ''lhe matter of Hstlng of stock of North American Oil Company nnd transne- m8 i . t,mt Bt0.ck en November 23 is still .being considered by the nrencr committees of the Exchange. Hearings I. uciiiK iieiu anu lesmmeny taken, but the work is net yet completed. As seen ns the committee having the mntter In charge has made its report It will be given In full te the newspnpers." THE TRADER. SHAMOKIN'S RICHEST MAN IS MARRIED TO SHOPGIRL Geerge H. Qreber la 66 and Father of Ten Children Shamekln, Pa., Dec. C Shnmekln's richest mnn, Geerge II. Orcbcr, sixty six, father of ten children and grand father of fourteen, married a shepgirl, Miss Rese Van Zant, last Wednes day. tircber is interested in most of the banks of Shamekln, Is one of the own ers of the Orccneugh Ceal Company and is the money power of the district, as was his father. Wh'cn he left bis mnnslen Wednes day morning he gave his family no hint of his plans, snying: "I'll be back te lunch." A few minutes later he walked Inte the rectory of St. Edward's Church with Miss Van Zant and told the Rev. M. M. Hassctt tbey wuntcd te be married. The witnesses were two friends of Grebcr. After the ceremony lie brought his bride te his home for luncheon nnd Introduced her. In the afternoon they left en their honeymoon. He did net tell where lie was going. Camden Man Hurt by Aute Charles Skinner, forty-seven years old, of 1128 Chestnut street, Camden, was Injured ubeut the legs last night when struck by nn automobile at Sixth nml Pine streets. Camden. The me terist failed te step after the accident. The injured man was taken te the Ilnmeenntlile llesnltnl where bis in juries nre said net te be serle.us. Yerk Read Farmera Organize These officers huve been elected by the Unner Buckingham Farmers' Club, nn organization of Yerk read farmers formed for the ndvnncement of the In terests of the nrgrlculturlsts In that district: President, Rebert Wiley; vice, president Hirnm Lake; secretary, Miss .Marguerite .Merris; assistant sec retary, Miss Ruth Wiley; treasurer, Harry Sickcl. r MUNICIPAL BONDS YIELDING 5-2 te 6 V. W. MILLS & CO. Stock Eichinr Bid.. Philadelphia Ltwreice E. Brown it C. CERTIFIED PUBLIC ACCOUNTANTS IOBD REAb BTAIC TBUBT BLOB. Urv-tl'it and sdjuit corpersUoa a-4 Krtnrnmp counts sae pripsts coot Ti Btture. A well-known bend house hat penlng for salesman who can place beet quality utility and rail bends. A liberal arrangement will be made with geed producer. ex A 606. Ledger Office. The East St Lenis & Suburban Ce. Stockholders who net received notice of the offer recently made te purchase the stocks of thla company should immediately cemmuni cate with us. E. W.Clark A C, 000. Dividend l,00O,00O. Greenebaum Bend it's 1 00 Safe Many thousands of careful in vestors knew that the name - EQUIPMENT TRUST CERTUF1CATES We Offer Company '"''ViW"" Baltimore A Ohie Railroad . . . Canadian Pacific Railway .... B'e Chesapeake A Ohie Railway .- . . Bce Chicago A Northwestern Railway . . 6Hre Chicago, Milwaukee A St. Paul Railway 6 Delaware A Hudsen Company . . 69n Erie Railroad, Series "HH" . . S Erie Railroad, Series "HH" .; . . We Erie Railroad, Series "HH" : . . 8 Erie Railroad, Series "HH" . . B Illinois Central Railroad .... 7 Kanawha & Michigan Railway 6 Michigan Central Railroad . . . 6re New Yerk Central Railroad . . . AVtVe New Yerk Central Railroad . . . 7 New Yerk Central Lines . . . .8 New Yerk, Chicago A St. Leuis R. R. 5 Pacific Fruit Express 79e Pennsylvania Railroad . .; . 6 St. Leuis-San Francisce Railway . . 8 St. Paul Railway . . . . . .8 Seaboard Air Line Railway . . . BKVe Seaboard Air Line Railway . . Seaboard Air Line Railway . . Southern Pacific Company . . Union Pacific Railroad . . . ... . ' 1 u;ei Telephone, Lembard 4320 t' rinicim iiiiiiiimii.iiiii'UiJiiiraiartnmuin.itnKiraiuimiuinfamumirtri si i.tum m EVERY ESTATE of which this Company assumes charge by appointment as EXECUTOR or TRUSTEE derives the maximum bene fit of our fifty-two contin uous years of acting in these capacities for large and small estates. In addition, we offer the strict regulations of CORPORATE MANAGEMENT and the advantage of PERPETUAL EXISTENCE n ttim Mt tin; (n in inn ;.i i mmi i m mm iiiiiiit niriirj::i tn iti rt,i mi it RAILROAD EQUIPMENT BONDS WE OFFER 6UBJECT PRIOR SALE LONQ ISLAND R. R. CO. 6s Aug. 1. 1929 5.40 (AA) PERE MARQUETTE RWY. CO. 6. Jan. IS. 1931 6.55 (AAJ LOUISVILLE A NASHVILLE Mar. 1931-1938 JS B.2S MAA) NEW YORK CENTRAL C June, 1930-1931 B.05 (AAA) HOCKINQ VALLEY flf Jan. 15, 1929 5.50 (AA) ST. PAUL RAILWAY 6l July 1929.1930 5.23 (AA) FblUdclpbU l'lan McAllister &HUTTLINGER 20 Seuth 15th Street Sprue 8011 Five Year 6 Geld Notes te yield about 6Vi frurM lijr a ittrrct iiinrlgsgi' en prepsrfy nil Illicit of Ceiil Jlliilim l niiiimliy ratlin. llshrO eit (1 yiMir, Infnnimtlen JIImcI fnun remiiany ulilmul ebllanl Jem, llenu of ceninii.ii steik nltli rtir fl"1' lieiw, Bt33, LED0EB OrHCE ff SURPLUS (EARNED) fl H II i2.250.000.00 Jl I r Subject te Prier Sale and Change Maturity Jan. 18, 1831 Oct. 1, 1927 Jan. 18, 1926-27 April 1. 1928 Jan. IS, 1929-34 Jan. 18, 1928-27 May 18-Nev. 18, 1928 May 18-Ner. 18, 1926 May 18, 1929 Nev. 18, 1933 May 18, 1934 Nev. 18, 193S Oct. 1, 1927 Jan. IS, 1933-36 March 1, 1929-32 Jan. 1, 1924 April 18, 1925-33 June 1, 1931-33 Sept. 1, 1936 June 1, 1927-33 Jan. IS, 1930-33 Sept. 1, 1923 July 18, 1926-35 Oct. 18, 1924 Apt. 18.-Oct. 13, 1928 April IB, 1927-31 June 1, 1926-27 June 1, 1926-27 8?a' 7 7 Issued under the Philadelphia Plan JANNEY & CO. 133-135 SOUTH FOURTH STREET PHILADELPHIA Americanize Your Credits Credit Insurance, as issued by the American Company, is a bread service which brings te manufacturers and wholesalers the follow ing vital benefits: 1 It reduces the credit waste. 2 It affords an accurate basis for costs. 3 It affords superior collection facilities. 4 It increases efficiency. 5 It promotes prosperity by stabilizing business. 6 It distributes the burden of less and affords an independent reserve fund ever and above the capital employed. The American Credit-Indemnity Company has successfully rendered such service for the past thirty years. In that time we have net only paid ever eleven million dollars te our elicy holders, but have prevented countless esses as well. Let our local representatives tell you about our Policies, as well as help you with your particular credit problems. 7Ae AMERICAN CREDIT-INDEMNITY CO. or NEW YORK J. F. MCFADDEN. president Credit Iniuranct Excluuitly W. J. Merphjr, Mgr., Arthur GelcUmith, Gen'l Agt., Allen Earnshftw, Associate Gen'l Agt., 10th & Chestnut Sts , Phenm Filbtrt SS03, Philadelphia, Pa. CERTAIN SECURITIES - net subject te th Ptnntylvanla 8ut tax On rtqutit, we will prepare Mlected list of auch bends for your consideration. Cadbury. Ellis & Haines Franklin Bank Bldg. FkiUJttfhU Sleck Ek- HIGH GRADE SECURITIES YUMiflf fren SVz te 6 MOBT. 8LENDINNINQ ft CO, RutahllanH 1X81 400 Chestnut St v-M.. is Price Yield 5.60tf 5.15 S.609e 5.209'd 6.80 6.08 5.40 8.80 8.60 8.80 8.10 5.80 8.20 5.00 8.20 8.00 8.00 8.20 5.40 8.00 5.20 5.30 6.80 8.70 8.10 8.10 Attractive Short Term Bends Province of Ontario Vir'c Ilundu Dm May 1, 1925 Te yield 5.50 Province of Alberta ."r'f llunds Due May 1, 1925 Te yield 5.50 'tdl pisrii'iinr I'-HS en request Weed, Gundy & Ce. Iiiroriierntiil U Wall St., New Yerk Turvnte lluitr.ul limliieis I.enilun, r.nn. r- I II. 1 The Bend Market I Our Offices it Present Status are connected by Direct Te t)0se jnvesters who are contemplating purchas- Private Wire Jn)? beds at the prebcnt time, we recommend a care- ulth important fu anaysis 0f the new elements which are beginning Banks and Bankers tQ afffict bend vaiUcS The abnormal money market in the Cities of c&used Jast years grcat advance in bend prices Buffalo, N. Y. is no longer the dominant factor, and it is becoming cKctaMtlfohte increasingly apparent that we have reached a secondary Cleveland,' Ohie stage, in which the individual merits or defects of various Columbus. Ohie iSSUC3 wjn largely govern their movements. Canten, Ohie J Dayton, Ohie it is therefore clear that while almost any bend Detroit $fc could be safely purchased last year, the present corn Erie, Pa. plexity of factors calls for increased discrimination. Kansa City, Me". In this connection we shall be pleased Louisville, Kv. (0 offer suggestions te these interested, Milwaukee, Wis. Minneapolis, Minn. New Orleans, La, gas kff- W. A. HARRIMAN & CO. IKrieldtohie INCOHPOBATBD Youngsteun, Ohie 75 1 Drcxcl Buildint), Philadelphia NEW YORK CHICAGO BUFFALO SYMACUMB I I I fpsxxyisSSeWEamm' rVe sptciatitein The World's Strongest Bends U.S. Certificates of Indebtedness Geld Notes Liberty Bends We buy, sell, and quote all issues in any amounts COMMERCIAL TRUST COMPANY Member Federal Reserve System (City Hall Square ri.i....i.ii.iii-t-.i-it.-i-tt-t. Just new, when you need steam or het-water heating equipment, Hajeca service is es pecially appreciated. We furnish Hajeca heating equipment complete and ready for the heating contractor te install. Our Engineering Department will gladly advise you. Haines, Jenes & Cadbury Ce. Plumbing and Heating Geed 11301144 Ridge Ave.. PhUa. i"'-"'----,i"'" JUtlrearl Hdul mntirinB In .",0 Mr, Eimiiiuti'i'l ti.v hid if ih I'Okt knnnn minis of tin' lemnrj nlse xi'iirpil Ii u Hret inurtirnii' 2 Nermal liler.l Incem Tr Tatil Price te yield ever S.90r'e F. P. Ristine & Ce. Widener Buildint, Pbilsdtlpbit New Yejk riuab-th, W, J. Umtlcri .Vete Veiti and I'luliJclflUa Stock lltchmmti Why Preferred Stocks Should Be Purchased Several issues which I wc have analyzed arc I well safeguarded as te principal and possess attractive convertible features, which, with a revival i n business, should warrant con siderable appreciation in market value. Yielding 7 te S..W, Chester B.Coek&Ca 42 Broadway New"rk TMephewe Breed 8895 ill We offer BALDWIN LOCOMOTIVES HELPED DEVELOP THE NATION'S WEALTH IN 1840, the accumulated wealth of our country, according te the United States Census Bureau, was sightly ever $7,000, 000,000. At the present time the figures are in excess of $200,000,000,000. The credit for much of this development be longs te the lailways, for without transportation, industry could net grew. During these years thousands of Baldwin Philadelphia-built locomotives have been used upon the country's great est railways. THE BALDWIN LOCOMOTIVE WORKS Philadelphia Credit Insurance By the World's Largest Surety Company It Runranteea MANUFAC TURERS AND JOBBERS ngninst bad debt losses beyond the Nermal Less inherent in their business. The. NATIONAL'S Service for handling Past Due nnd Insolvent Accounts, by which losses miiy be prevented and savings effected, ia afforded all its Credit Insurance Policy holders. An additional aid te these Policyholders is offered by The National's Free "Bleck Signal Service." IVrita u- for particulars NATIONAL SURETY COMPANY E. If, TREAT. Vies Preildsnt JOHN E. GREGORY, "SMSa I.nni Tllln Ilidf , r-hlUdelphli Public Service Cerp. of New Jersey Perpet. 6's Bought Sold Quoted Elkins, Merris & Ce. Land Title Bldg., Phila. Mftnber A l'iiil. Stock New 1'erk Eirhanfe -R. A. M. & Ce. Our December Circular contains Investment suggestions of value te Invest e r a . Reed A. Morgan & Ce. ll'rvt Fml 7nis( liltle . I'Uila. Mi mtu r i I I'hlla hlnci, )-srh Tflcphnti. Sruri 2131 i Superstitions A booklet which dispels many misunderstandings nnd sets forth the countless ndvHntuces of n Will Send for a copy FRANKLIN TUl'ST CO. 15th St. Belew Market C. S. PATTON & CO. au in, i si r ib, BANKERS ,. ... ,i'n 1-n.iir ti , MAII.KK MMI M llnniU nml tnil, IhiiikIiI nml .old. r - -."'Mi "ii' h r iiiiTiif MR. SALES IMANA(iKR ,A, . U5lii -"Mal nn.ll le'siMnl-ui V h"r,,'u, I Daily i f.'.UtWIAKl e.. .... I Can ion me a mnn, 27 yra old. ulth 5 yra. renil i pre.n ability ami 4. 1 rural tna In your Pl,l u. Wrltervl rxprlnca- adit In Jan, Ccniinvnluaxte " B SM. I.EDOER OFTICK New Yerk Curb Exchange Stocks and Bends In response te many recent inquiries en Radie Corporation of America we have prepared a new report en this security, giving recent develop ments as well as a statisti cal analysis of condition and prospects. Cepy utf bt sent ytn . tn request Tenes &. Baker Members New Yerk Curb Exchange Direct Prlvite WiritiT""'" New Yerk Chltite Boiten Phllmdatphla rittibur-h Detroit Biltimera CltrcItiU PHILADELPHIA OFFICE Widener Building T.l.phoe-r.in.IlSSJea? BALTIMORE OFFICE Emersen Hetel Telephone - Plata 8431 Ind., Columbus & Eatt. Trac. Si, 1942 Tcrre Haute, Indpi. & East. St, 194S Federal Lifht & Traction Ce. 61, 1942 Betb. Steel Cerp. Pur. Meney 61, 1998 American Railways Ce 7'i'i, 1925 Ne. Jersey Street Rwy. Ce...4i, 1948 Public Service Cerp. of N. J, All limes SAMUEL K. PHILLIPS & CO. Mcrabtri Philadelphia Stock Ezcluum S07 CHESTNUT STREET Central Vermont 5s, 1930 Central Power & Lt. 6s, 1946 Waltham Watch 6s, 1924 Bayuk Bres. 1st & 2d Pfd. Denner Steel 1st Pfd. GARRISON A CO. TjriDema auiieiNe, rmutDtinttA """m mMi niMJ.kK tart t-.IISt huMMH (.n tM !( V tkm tin Tt.t Im, an Brooklyn Bore Gas M0RLEY, WOOD & CO. 333 Chestnut Street M-mberi N. V. & riiila Stock Cicb's. SrrdrU Sros. & Ce. Vubllr atlltry crurittra lark Cxrrirmn gulletrtfl, ytrga. Amer. G.is & Elec. 6s. 2014 Amcr. Pr. & Lt. 6s, 2016 rhenem Lecmt 0220-1 34 Trlvatw rh'.ii' te Hew Yerk Ik Bea ten Wm. Stekij & Sens Cx ARCJUiErry)itN(nwiDna.cu.'srHUUtl SHIbMMLVMIA M TC.OMT NYDMULIC REPAIRS HrXrllrlERYi We are equipped te de th work at your plant and sava you the expense of long tie-up. I'liuii nl, INM nml Muln Sl " H "W1 M :h i S".rl ' ii If I f 1 M hm m t ill a I mr i ; i I 1 ". v. n. A V'OtAf ',' I rfiM" ,!-- Ji?!'"?
Significant historical Pennsylvania newspapers