-.;'.
1922 29 M
, Vs
EVENING PUBLIC LEDGER PHILADELPHIA, THURSDAY, DECEMBER 11,
REILLY, BROCK &. CO.
i
i
IN ORDER TO AVOID
! L03S OF INTEREST
i
i
UNITED STATES VICTORY
AUr MATFS
SERIES A-F
...- neitr II
INbkUdifi- '
SHOULD IMMEDIATELY HE I
PRESENTED FOR
REDEMPTION OR EXCHANGE
306 CHESTNUT ST. '
PHILADELPHIA
A
en
Saving Fund
Deposits
from
January 1st
1923
EXCELSIOR
Trust Ce.
Germantown & Lehigh Aves.
PHILADELPHIA
S-tS RJfci' L.n HH'flMi '"
ORIGINATING
DEPARTMENT
OUR originating
department is al
ways glad te take up
the matter of financing
for any business which
is en a sound basis,
operated along conser
vative and progressive
lines, and which can
show consistent earn
ing power ever a
period of years.
STROUD &
COMPANY.
Incorporated
PHILADELPHIA NEW YORK
WASHINGTON
1 It is an axiom of invest
ment banking that the
most conservative securi
ties sometimes offer tlie
best opportunities for spec
ulatien. Many of our cus
tomers beujrht Chicago &
Western Indiana Kailrend
I'onaelidntpcl 4'c ISend?,
dm. 11)52, at around uj.
We shall be glad te icc icc
einmend te the-.ej inte.ested
ether jroed investment
"eniia wnese price is below
normal.
H'c invite conference en
any current investment
subject.
HARPER & TURNER
Investment bankers
fortifiers Pttitiuclphu Stock. Excfurtlt
STOCK EXCHANGE BUILDING
W Philadelphia
r. &&$& J
I Irfl AND linlM
JLviJL7 aeiiii "I'll
VHi' curiam
I'lll
Superstitions
A, booklet which diipeli manr
jnuunderstandingj and set.
"rth ihe countless advantages!
of a Will
Send for a copy
JftANKLTN TRUST CO.
Mil .St. Hlew Market
.
&iT
STOCKS FAILED TO
ft
EARLY GAINS
300
200
1300
100
1000
A00
s 100
100
300
500
4100
100
300
100
300
300
100
100
100
900
103
913
1000
400
2500
100
100
1200
4100
11 CO
700
100
33.1
100
500
700
100
100
500
10-
1700
100
2100
100
700
210J
103
500
200
300
100
6C0
10
14803
1030
TOO
100
C00
Bearish Noen Drive Disclosed
Much Technical Weak -
ness in the List
New Yerk, Up,.. 14. Aftep
gOUCMllV lljeher nuiilnn
making
prices
, ,. , - --.-,.... winning,
iiriiieei in nil :i 111 PIS mrl nf Ccl,l..
lllPIl broke slinnilv at neon TIiIm nn.
IfirrlltlV resulted from n lcc ,.t
etivlties en tin. ,irt f ,lp ,, 0
ihe eik- Iiatnl niuLa greatlv reduced
.'i'"'""1 ,..'""' ""' M'l01't interest nn Hip
ether. f. K,.np,. ,.n.t,,v f ,,p
market rather suggested pnnnur!N of
..'iir.iiiiiiiien or constructive ititltiencp
mm II few selected Ihsiiph in r,t.r te
IllOllilllte til (lilt -taking el-OWllOI'O.
1 At least ihls was suggested in the
I heaviness of Hi,. stocks which in re
.cent sessions were eon-pieiiouslv under
illrrt'ttnii of pe,,s n, etlr j,pCria.
, live combinations, and several aggros aggres
i!vp operators-. Am an offHet I'tilted
Mates Steel wns cnrrlpd nn ever n
point te 10..U., t. hldipst price
leiicip, by tl,t fnverilp slurp it .sold
ex-dividend at Hip beginning of th
month Hut iIip general li-t did net
, f'liew flip Kime response; te tin- ren-
. trar.v, iiftei- dip lirst lienr thp market
worn u mther tired appearance.
i Although constructive news appar
ently Is receiving mure nttPiiiieii liv die
pi-ofessieiml (t-iidprs. thp iiievp favor
able foreign advices this morning com
manded only acaileinlp Interest. TurkevV
less belligerent attltinlp at Luu-uiiiie
was novertholosH regarded with favor,
(.renter optimism regarding the wliole
I.iirepriin situation was ulse innnlfpsted
as a re-nil of tleillui.,dti,... .... .1
1 ... , , i" " "11 uir Ian
, or Washington te bring Hip Kurepenn L
I I 'l'l.,t. lilllll ,.,.. l.H 1 .. I
'.'" '"h'imi ill .'HI UllClcr-tllllellllg
ever the (termini reparations payments
I lie Incident iimlenliledly would neeetint
ler I he revived .and revnnined rumors
hen id in the financial elisiru-t of an
American lemi te (ieriuany.
1 Oontiniinnce of the low 'rates for call
, money nl-n contributed te hol-ter the
maruft (luring the parly advance, but
In the vernacular of the Street the
market seetned te "hull hard." In nil
events, the lies-ltniiey Invited testing
operations en part of the reactionary
nnrty. and just before neon an 11 va".
lanelip of selling orders was inuiiclie!
agnlnst thp whole IM. Morp or levs
technical wcnkiics was unrnvered mid
prices crumbled all along the line. ir
tunll. wiping out or nmterinll,, rediii
itig all of the earl j gains. Seme of the
specialties, wrre tlip lir-l te , e,I te
Mils p.-essure. IMgalj -Wigclv sliiiiiped
10 peinl.s. Woeiwoith, T: Nailennl
Lend. 4, and Marine preferred, Mexi
can Petroleum. Krege and (Jener.il
American Tank, .'! each.
j i Commodity Markets
j GRAIN MARKET
i Cliira','0, Dee. 1 I. Wlieat averaged
I 'ewcr in price teilaj during the einlj
dealings, hulls being liaudii-iippcd n 1111'-i-espeiisivetic-s
winch the l.ivcrpoel
iiinrket bowed tev.aid jisterda.. 's ad
vance here. Snow and Vain ever much
if the domestic winter cted territory
lended nl-e te favor Hie selling side
of the market. On the ether hand. hu
iag remained netiw, owing te continued
I notice of proposed ciedll extension eii
1 uctment.s at Wasiiingten.
Tin opening, which varied from un
changed figures te !);, lower, with
Mny ijl.'.'.'i te Sl.uaf. and .Inly SI. 14',
10 S1.14n, was followed by a mnd
jciiiti general sng mid then by rallle-,
J lilt-Ii. Iiewevc". failed te held.
Active Inijiiig en the part of a big
ci.alcr Inleresi gave relative sttengtl'
te corn and eat", December corn tutHi
ins: n new high p'ice record for the -ca--en,
715' .jc. Af'cr epenin;; unchanged
10 '..( lower. May 7.'!'sc te 7!!"-,e,
I lie c-ern market scored sharp sains for
December and kept near te yesterilay's
linisii ter .Mny mid .inly.
1 Dat.s started 'ic lower te n
shade
higher. May 4(V te -Kt'ir, and
1 md-rwent a slight decline.
later
Cern
I' rev.
7:1 't
clone
.a'.
TV.
Odeii
It .T"
y Til'j
11! M.
.:ir.
M.'ij.
.liny
W'l l-lC-
1 HI
I 1M'..
I IP,
!.',
.ilj".
IU.10
1 jc
I -M
1 1.1'
r, 1 j:i
1 11',
I..
If.",
-Mni
COTTON MARKET
New Yerk, Dec. 14. '' he cotton
futures mnrket opened lir:i .1- at an ad
vance from 4 te 1!S points 011 active do de
livprips. late nienthn showing the most
strength. The vpeculathe element was,'
ngnin n large buyer, while the Seuth 1
continued its selling movement. Wall
Street, I.iveronel and commission ;
cunccius were tlie clilef bujeia early. j
Tli.'iv was a geed deal of prelit-dik- 1
mg en the rise, but it was well ab- j
.orbed and after th start there was 11
'uri her uplift, which can led prices
(bout 35 puiutu nhue tlie previous
dose.
!;
V Clim
J," 'IJ
L'.'i .i!''J'.iS
JR h- "Ml
L'."i .'iT '! il.l
LT. L'lHt'JT
fip-n
I'.'.. 1J
:. ia
--. II!
-'' ''.'l
2.:i.50
L'l li'i
f.' M
i'. i'iiiii'
.1 'Hi ir
, I t', mi;
, Mnn-li
lulv
I Atiuu. .
i . , ... .
Si.Iii !
Tr.ule
TN'nnilnat.
NEW YORK COFFEE MARKET
New Yerk. Dec. 14.--The market for
,efl're fuluriis ejicned steady and te (1
points higher this morning, with Wall
Streii anil trade Interests en the buy
ing side, and offerings coming fieiu
si ill tel ed i-euiccs.
'I'lie ISrcisdl mnikets en a liiile
icndier, wlilcii ui;i innc aci'euutcil
ler
the liiedcrale
eiirh
I'rc v
.til HI
II S'
a ;;:
. h n.
. ts.i,
dcinaiid
leie. 1
1
cn;!fU
Open I
!i Sll
II r.Tfl.TS 1
11,,,
inibei . .
inn
,11
M.i
:i?2t
1ti)l
1' - t 'II JF.
s nswun
b.lOQSu
.lll.v
Seel 11 ''er
INulilllnil,
LONDON STOCK MARKET
Oils Sluggish Alterations In Dellar,
' Descriptions Light I
Londen. Dee. II. Owing te con-'
'ucliiig of the settlement, tending in '
ivuritles cm the stock oNchnnge re-
j iiiiiini'd light ti'dn.. Oil slinres were,
sl'igt'ili. but the tone was harder en
lepiiiehnses. Shell Transport and
j Trading moved im te '."'',, being helped
l tlie maintennnee of tln Interim divi-
ml ut -s a stinre. ueyai Dutch was
Heme rails were (pilot and mled.
Hellar descriptions showed n tendency
te leeede, hut iillerutiein weie light.
Ugi'litine nil's avci'p neglected, but
lend) (.ill -ed'Ti'd iine.stinent issues
v cie w'll n ili'tiiliieil, I'lemh leans
...sp'.itid sialill.ij, but operations were
,si'iillicnul-
I n.iiis.t riuls getieralh were cheerful,
liii'siiiis !u was " 11 -It!, The rubber
leup was lini-il, following the slnple.
Kallir- were sleucl) en buing for Paris
in count.
'
in,-.ii
I
I
I Tclll;
20.S1;
111.00;
2lt,W);
French Bank Statement
r
Purls, Dec-. II The weekly liieinpnt or
I i run. i'i i-riine'. shewh lln lnllnu nr,
clianceH in fr.incs; (laid In hainl InrrtMseii
jel, mill, tell v r 'In h iii,l lucre. med, 111.1,11,1,,
t in cireuinunn aeirenHru, .- iia-.'.euili
irfBHury ei'iqii nuii'iineci. 1 i.ns.iiuiii mm
i:3l.ia,,0i"Jr Sea.iiiiWl:02Si.,!!!J!g. d5r' f,""?
eiuateu, an.aiiii ciCW, ine, einii) rcpn ci thai ',,"
hnlc 300. 000. 000. 'Xlla
" r- , ,
NEW YORK STOCK EXCHANGE TRANSACTIONS
Only Afternoon Repert in Philadelphia Quoting Full List
niv.
In $
1 :en Net
V M, Clie
57 54- 12
Va
78 Vz 4- Va
43 'j - Vt
20 H - Vt
f.0 Va - Vi
55 Yi -f- Vi
4154 Wi
35 54 - Vi
75 54-f- Va
73 Va- Va
112- Wa
1 08 - 14
CTa
!8'4 - Va
36 1
6 54 4- Va
138- !4
1054
108 D 2
08 - 54
28 54 - Vz
1 1 -I Va
30 5 j -
1 23 -
49 I 54
119 r 1
7 4- Va
1954- 1
55K4- H
37 ?i -
105
76 - 54
107
9 5:-:- Yz
124- 14
153 54 4- 14
18
5014 4- 1
88 - 1
97 - 54
16 - 54
48- 54
39 4- 7
1 ..
6454- 1 Va
E3!4f Va
1 1 B 4- Jii
10054- ?ti
1 ..
.-3J. 4- Va
31 -
1225
1 1.6 5b- Ha
4? 54-
C9 4- 1
45 - 1
32 - 54
Vi 4- Va
154- !4
b3 4-14
b3 5 4- !4
11454- Yi
1 4 54 - 154
1254-
60
144 f Va
44 4- 1 3
9 - Vi
CCJ'e- Va
94
8Tb4- '4
50 4- 1
l3!4 - Kr
-3Jb f "a
70 54 4- ?
;34 4- 4
?31
230
45 Va 4- 94
t3 - Va
66 54 ..
101544- 54
55
4- 5b
90 is
;? - Je
?5
79 54 ..
82 - 1
32 - ie
93 5i-;-
274- !4
24
66 54 4- Yi
76- 54
25 - 96
45 4-
102 54- Yi
2?i ..
94
l'3'4 " Y
36'i- Hi;
121 54-
j0&6
2 - U
H',2 ' i
111 -
i:-e- '4
f.0
ioe -;-
t0 Va
S-O'i - 54
25 8 ..
1 4 54 - '-i
J9- 1
-0 - ''.
e ! '4
1T4 - '
1 4 '4 1
b. '.. 'e
?3 . '
40
tB'b 1 4
10';- l4
'' "4 "I" ',4
t'3- U
97 -I- 1
10
i'5 5j -i- 25'e
197
1 H Va - !4
70 - 2
45 5J4- 1
7054 -i- 2
B3 !4 4- 54
181 54 - tj
'0'b- ij
13Ja- i,
42 -f Hi
97 4- '4
5 5a- '4
34'i- -4
24 'i
12'4- 'a
C0 1,
-0?8- i'i
11
7714 4- 'a
84
19 - Yi
70 - 1 4
-6 - -e
2SJi- H0
4
40
33
'4
30
24
-3Ja - 'M
87 52
i.0 . 11,
!4i4
bJ .
14
421a - Hi
H
215.-
69',
5Hl ! 't
STert; tiiffh
I.n-v
57 Yi
Va
7814
43 54
30H
re
55 Yi
AWl
35'2.
75
73 Va
1124
168
6
18!b
30
6'i
130
i0'4
ICO
88
wv
119a
:e',i
1:3
49
119
7'e
19
ZBVa
37 Va
105
76
107
i9'a
124
1 3 i
8
49',
00
6 Va
16
40
39
1
64 a
83J4
114 'a
1005,
1
?3i,
31
1225
I Z6 Va
42'j
rn
45
32
U
51
62
C3J.J
1 1 4 Vz
14 '4
7.Vi
58 Ta
144
44'J
9
EO',,
94
8
re
1-J'i
-3J,
70
34
231
230
iA Va
c3Ja
66
101 Va
i 55
4
"'
22''.
i5 "
79
02
32".
3'..
27'2
?4
66 'A
76
25
45
1C2
2
9 '4
16 ',4
16 (4
11 U
cOfcS
'
H
110
no
49 h
100
c7'4
10!2
i5',A
14t2
39
30
42
154
t4'i
'7 '4
ri
fcS
ICjU
1'Ea
i?-
97
10
54
197
93 J i
"Hi
70
'AYi
. 79
l'3 il
111 '4
10 'a
n?i
42
y;
5J
i4!i
24 '0
1?'i.
7"
II
7C
114
19
70
:s
5!8
4
40
3
'i
5a
-0
-' 'a
-1
I '
40 141,
M
14
42 '.'a
9a
a
:ej8
CO'i
' i Si
I
4
4
Air Tlneluctlen .... SO
Alnslcn Clehl Mines. V
Allied Cliem A Dve 79JJ
Allla-ciialmera 434
Am Agrlc nietn... 31 '
Am ArHc Cbem pf. GO 'A
Am Hank .Vete pf . , 55i
Am Meet Sugar. ... 41 J
Am Ueach Mngncte. 36
Am II Sh Fdy new. 7514
4
fi Am
7 Am
Can 74'4
Can pf 112
13 Am Cur Pilif 1E8
2 Am
. Am
. Am
. Am
. Am
8 Am
. Am
7 Am
C Am
. Am
1 Am
. Am
(1 Am
3 Am
Chicle RVt
Cotten OIL... 18 H
Cotten Oil pf...36'4
Drug Kyn 0 W
Kxnrca 138?
Hide & Leather 10 '4
Ice 1092
Ice pf 80
Internnt Cern. . 29
La France Kng 11 ?a
Linseed 31 !j
Locemotlvo ... 124
Metnla 49
Am nnillnlnr ... .110
M Am .Safety nnsier.. 7a
Am
Am
Am
Am
Am
Am
Ship & Cem... :0?'
Smelt 55?8
Steel Paunclrlea 30
Steel 1'M.vh pf, ,105
Sugar Iter . . , 75 ?i
Sugar Iter pr.,107
Am
Sumatra 30
9 Am Tel & Tel 1?5
12 Am Tobacco 13 1-3JS
.. Am Wntei works ... ;n
'.. Am WutrwKs B pf E0'j
7 Am Wntrwks r tif 88
1 Am Woolen b7',i
.. Am Zinc Lcl .1 Smelt 16
.. Anncenda Cenper .. 49'0
. . Ann Arber pf 39
.. Assets Ucallzatlen. 1
4 Arse Dry Goods... C6
C Atso D Ooeds 1st pf 83 Yi
-1 Atlantic Coast Unci 154
0 Atch Tep & Kan Fn 101 14
.. Atlantic Fruit etfn. Hi
.. Atl liulf & W I S S ?3?a
. . Austin Nichols .... 3HJ
20 Atl Itcllnlng 1225
7 nap' win Locomotive! 28
naltlmc-e ft Ohie.
4? 'a
Haiti ,i f 'ite nf...
Harnett Leather
Unrnsdall Class A. ,
F9
45
33 y,
51 JS
63
64
1147a
300
n.itepllas Mln
1003 48c Heechnut Packing.
300
0 IJethlehem Steel
4430
300
4003
700
700
600
800
2200
2200
200
5200
100
500
200
100
200
DO
200
5200
1503
503
b Heth Steel II.
8 Brooklyn Kdlsen
nklyn Itapld Transit 15 JJ
Bklyn n T ctfs.
13
Hi own Shee
Burns Bres A
te
. 45'a
, en
, 17
94
9
, 50
1.4
23 'a
7-!i
,?34
231
.230
10
2 Burns Bres B
.. Butte Cep & Zinc.
.. California Petrel .
7 California Pet pf..
. . Ca Zinc and Lead
2 Cnlumet & Arizona
10 Canadian Pacltlu .
. . Central Leather . .
. . Cun Leather pf....
8 Centrm of X J...
. . de odd lets
de cash sales
.. Ceiro-de-I'asce ...
C Chandler Meters .
64 W
66 Yi
Clu.saptaku & Ohie
100 OV'
103 ..
200 . .
200 ..
1 300 . .
1 000 . .
400 C
100
B103 ..
100 7
103J ..
700 ..
100 ..
1200 C
1 00
100 3
1030 G
1 1 en
30U ..
500 . .
400 ..
Chesapeake a Oh uflOl 'i
. I'll! & i: 111 (new) p: 55
. Chicago .V Ur Went AY2
. Chi & Gr West pf. . 93,
. Chi Mil & St P 23
. Chi M & St P pf... 35?,
C Cal t Xurtlm extern . 79'-,.
4 Chi Pneu Teel Bfi
. Chi It I & Pac 32 'j
7 Chi II I & Pc 7 pf P3'j
. Chile Copper 27 ?i
. Chlne Copper 24
. Cluett-Peabody 66 Yi
C Coco-Cela 77
. Cel Fuel & Iren... 25
3 Ce: & Southern 45
G Celum Gas & Elec.103
. Celum Graphopheno ?3a
. Cel Grnphopheno pf 9'i
. Conley Tinfoil 10 '',
. Conel Cigar 37 H
8 Consolidated Gas .1-1 ?8
Cens Gas of X V wl. 51
. Cens Gas 1 tn 2' J
. Consel Tcxtl ... Wj
. Continental Can . .112
4 Coin Pieducts lie. .'32 U
4 Cesdun & Ce r.0'i
7 Ceackn &. Ce pf 100
. Ciucib'e Steel .... h0
7 Cruclble Steel pf... i02
. Cuban Am Sutrnr. .. ib3
. Cuba Canu Sugar.. 14Jj
. Cuba Cnne Sugar pf 40 la
. Pavlsen Chemical . 31 Yi
2 Deme Milieu O
M30
1500
13600
1500
1300
3103
6600
203
7200
100
4600
100
800
1400
600
203
603
800
2330
100
3700
300
300
1500
100
100
1100
2100
100
600
600
7300
300
300
Oil Pent (: I ) Ce15'i
Castnmu ICeJaU . . . t-5'i
IC!,0 Sli.ii:e IS.lt. . . b73t
Mil; Ili-ni Ceal . 23 'a
1.1k lle'n Ceil p' . 40
laidtcuU Jehnsen . . 19
1:1 ic iej;.
Kile- 1st pf i'U
Fnmeus 1'i.iyera L. 94 'i
Famous I'l.iira pf. 97 94
Fed Mln ."i .''melt. . 10
Fed Mlu & Smelt pf 56
Fisher Bedy ... 202
Fisher Bedy of O pf 98 J
Freeport Texas ... 1 B i
Gen Am Tank 71 Vi
General Asphalt ... '6&
Genera' Asphalt pf 79 Yi
6 General Ugar t'3',2
8 Gen Electric 181
200
500 GOc Gelll lClec sp. cla! pf 11
3700 Geneir.l Moieis 14
100
Ulinbel Uies 4S.
Olmbel Bres pf 97.
Geklwyi I'icuireb... ti
GoedMeli IJ V -5
Gianbj Mining 24 !a
Gia & n.ms 12Jb
Gnat Xe'th. ru pf. . 81
Grt North Ore ctts 08
500
600
COO
103
1600
46C0
00
lOO
2200
100
100
200
2100
140
430
100
400
100
930
500
200
100
200
200
3600
103
200
500
500
730
100
2300
230
100
V
Gu.iut.iii.iii.e hugar. u
Gu f Slates Steul... 78
llaitman corp 84
Heml.e MfK 19
Housten Oil 70
Iluilsen Moter Car. 26J8
ilupti Moter Car... i6
llMlraullc Steel ... 4
Iljilraii if hteel pf. 40
liibpuni en Cen Cep JJ
Inli-r Cen Ceip. ... ',
Inter i .in ' '"in P.". --4
Int. I K'ic Pf :0
luli'iu n 'Vim lit . Jt 'a
Inti i 'eiu Hug 1ai
Il.t lire.it North... .3'
Int ll.ii et r new 87 "a
Int. r M. r Marine pf 51 i
Inte.- Nickel 14 14
1
llileinaiienai caper zj
Iiiviiieil.lt' Oil
Carpi 4 ;s
iron Products
43
'a
)k
211',
09!j
511,
Island Oil ....
de cash sales .
Jewel Ti a . . . .
Jewel
Jenes
T a pf..
Ill os Tea
FOREIGN EXCHANGE
, New Yerk. Dei II At the opening
li'ilii) the foreign cm h.nige markel wiih
irregiilur following Wedne-dii) s vle'ent
u.ineuieiits. Steiling wu- iiuchiiiiged
hut stead) at tlie eu-nig of the previ
ous da), I'taiics were up U'-.. ; llel
1 kiiiiik up L"'. : lire up "' and murks up
n. The Impreienieut in (he la-t men
tioned ia tlie best thai has been noted
in ever il month past. All of the so se
called neutrals were l.cwer. Swl-s le-t
2; Spanish 7. Dnin-h .'I : .Nerwa) lit;
Swedish 1 and giilldn- ."
(Juotatieus who. S'ci lug cnlilei
1.(11. demand I ii'5", . !'''" 'allies 7.22,
1 iegul.li- led.v IJul'.'.iria showed a
-"HI ''I 2 point-. ,lne Seiin.i u
'"n .1, t.r.-.K down il, t .cc. Slovakia
'l"wn ! ami pli,, mail;- down I the'
-l !.; a new low iecer.1. .Iiige-Slnvla ,
i"-t ' of u point, guutatiens: Itul-I
win. 1.70; Hunmnia. .,12; Se.bl,,.;
I '; (.reek. 1.27: C.eel,...s!i. ,.i,i., '
.IIHl. 1 uc.
........ .iciKe-r.
iciuiRs, .iiu.m;
..in. .cnii-i', ;
VKSrill'.DAY H
sicMiuiu
ill.
',-iini 1
Jb..
M lit-
" I II .
li'DAY-H I'l.d
uclls 7.21'i; lle'gllin c.ie c- ti ti-j,
sif
i "in. nl
iil.le.-t
I . :i
lu-clis li.2t '
lin
ab'i
0.0,". ')
I ill
leeks ,-,(l,- ; Swiss c.ihlcs I'.l.llll, checks
.)!.. .CI 1-1 fit ..I I..
ni'-ela
ab'i
l.'.tllt,
ciiitun
checks
clle'cks
U.S. Certificates
D.lliish
Nerwav
Swedi.sli
.lilies
cable -cables
20, Ml,
I1l.li.-.
2tl.ll I,
1O.0.-I.
im
.Mniiirlnu-
Itale
cliecl
U.llfl
Mm.. m:n
guilder
came s
checks i;
ItlllD,
Nep.,
June
Hep..
Mur ,
Due ,
Mnr.,
Klin..
lll.'.l
40,00; minks .01. 'te.
ll'.'.l
IIC'I
10-.M
nun,
in us
tniai
IPSA
1 '?'
The premium en New Yerk exehange t'flji
in Montreal today ilecliuecl '',, te !!s 1 IJiJi
per cent. Tlie discount 011 Canadian Ui
- - ' fw v'"" " " evve1'
I-, nt't't'i
i.xc'imi,
r reni
,'"" , TAuiuliluulu for
(lulitnil l.'eiii.iii.nii null-kola wiuu j. Si 'i.u1,,..
w ms ,---.- - .. .- vea v
r
niv.
In i
Hairs
tee
100
1100
1030
1500
5700
3600
100
STOCK B"!h
Knn Cltv ft Seuth.. 19'i
Kansas & Gulf - ?-Va
Kayser ft Ce new . 45
Kelscy Wheel 105
Kelly-Sprlngllcld . 4j
Kennrcett Cepp'-r. . . 37 i,
KcVBtene T & It.... 10
Lew
1954
214
".4 54
102
4'4
36 54
10 ii
Itll
1
63
1954
1854
134
S6 54
84 Ji
113
61
Z0
34
5154
5015
45 54
22 54
28
i9'5
46 '5
15 54
08
18Ts
2-40
16 '4
15 14
1154
28 H
14
39
1e55
43
67
21 14
13 95
II
38
63 U
Ub
65
121 W
1454
3 54
40 54
H6 54
92
22
14
77
93
'5
76?b
H4
14255
0 7a
38
19
P6
46
e2'b
76 54
6255
4.M.4
4054
J'i
93 '5
:-6'5
69
41
42 U
12?b
28 55
4
45
E8H
34
21
43'
94
130
:7'i
H'c
77 "8
51
46
82',
48
t0B
19b
21 9a
3014
29
503
1
0
13
7 '4
7
36
U-",
31 js
100
J'4
43
l'U
23
19"8
115
197
117'4
6?b
t1 '8
60
:7'.i
1J2
I
4'a
1
Tg
SO?,
21 6
22
127
33 5s
54
8015
Ufa
33
63
III
1-7i
40
1 7 Yi
25
L9
-.8
Krpsge S S 182
Laekuwann.i Steel . 76
200
100 S54 Lehigh Valley t3
100 4 Lima Locomotive
59 54
"00 ,. Loews Ine
100 7 Louisville ft Xash.,
100 .. Mack Truck
100 7 Mnclc Truck 2d pf
200 7 Mackay Ce
IB 54
134
6 54
04 Va
113
61
re
S5
51 14
F0'4
45
22',
?3W
3154
46 '4
'DO .. Mncy ft Ce
e?22 Magma Copper ....
.22 Miil'i-isen Ce
100 .. Mnnatl Sugar
100 .. Manila t Kiev ctfs...
J03 3 M.inhnt Shirt
'00 .. Mar St P.wy INI pf .
2300 4 Marland Oil
2100 3 Mnrtln I'arry Cerp
'00 .. Max .Meters Class A
203 .. Max Meters Class B
100 10 May Dept Stores
100 1 Mclnlyre Mining .
300 12 Me.i Petroleum . . .:
500 2 Mex Seaboard
154
60
1B?a
iO
165,
159S
1t
2R
WJ Z Mex Sen leiinl ni pi
2300 1.20 Mlddle States Cerp.
Mldvale Steel
Me ICnn ft Tex (wl)
Me Kan T fwl) pf 39
Missouri I Medie 1614
Missouri Iiu;Itle pf . 43
Mentana Power . . 67
MontgeniM-y Wird. 2154
Minn Moter Car... 1954
Mether Lede Mining 1 1 '4
Nat !'J-c!lt "I . . . 30 ?i
Nat Cleak ft Suit. . 64
Xat Cen ft entile., . 1 14
Nat I'n r- Stamp... 65
National Lend 1i7
.Vev Cen Copper. ... 14 54
Xat It P. of M 2rt pf 314
X V Air Brake A... 48 '4
X O Tex ft Mex... h7H
X Y Central 94
Xcw Yerk X M ft II 22
X Y Mi'nliullcltntr. .. 14
Xer ft West pf .... 77
North American ... 94
Neith Aner pf '5
North IVclMu 704
Okla Pred ft Bef... 1 T4
Otis Ktevater 1425a
Otis Steel 8Ja
Owens net Maeh... 38
Pncknnl Mc ter 19
Pac'tle Devel Cerp.
Pac Gas ft Ulee... ?6
Pacific Oil 47 5a
Pan Amer Petrel... 04
Pan Anier B 79
Pnnhandl-. pf . c2 54
PennsvU.cnla U H. . 46 55
de e Id lets 46'4
Petin S.-h beard Steel 3'
IVepl. m Gas Chlcnie 93 54
Per.. Marcpi-tte ... 37 54
P'T.' Marq pf 69
Philndelph'a Ce .... 41
Phillips Pet 42TB
Plerec-Arrew Moter 12?i
Plerce-Arrew Met pf, 28 54
Pierce Oil 4
Plggly Wlggly Stere 55 55
Pitts Cen! 50
Pitts ft W Va 34
Pend Creek Ceal... ??Va
Producers il IW . . . 44 '4
Pub S'tr of N J.... 94 'b
Pullman Ce 130
Pur- Oil i7'4
Pay Cen Copper... 13' t
Beading 70
Trading 1st pf 51
Itepub lien ft Steel. 47
BepubPc I ft S pf. . 82',
Reynolds Teb B 40
Hoyal Dutch X Y.. 51
St Jeseph Lead.... 1914
St Leuis San Fran. ?Hb
St Leuis S Fran pf. 38
St Leuis Seuth WeJt 29
St L Southwest pf.. 58
Saxen Moter H4
Si.ib Air Line pf... 8
Kenrs-Reubuctc .... c-'3
S'-ncea Copper ... 7
.'hattucl: Ariz Ceip 3
Snell T mspe-t .. 26 'a
100
3100
400
100
100
3300
1100
600
400
300
100
100
400
100
300
20530
-433
1500
300
200
U00
400
100
800
100
1100
410J
1100
103
200
200
5200
C Shell Union oil pf . . 92 14
2 Sinclair Censul ... 32
ti Sinclair Cen pf ...100
. . Mi. lly Oil ) 1 ',
. . Se Perte Rice Sugar 43
G beutheiu Pacltlu .. te'8
. . Southern Rail 74
. . SpUer Mrg 19'i
4 Standard Oil of Call 16
6 Standard Oil of N J197
7 Stand Oil of N .pN17!4
7 Steel Tube pf 76 'a
3 Sleillug Piediictu . . tO
4 Stewart Winner Spd CO
f. Stieuibcrg C.n b
57-i
l'J SlUilebal(L.-
. . Sub He.il C')l p
.. Siii..ei OH
. . Swirls Ce of Am
. . Tetiu Cep i: Cheui
.li5 ln
. 7'3
1
. 40 '4
Tiuh c'e
C Texas Gulf Sulphur 5955
Texas .: Paeltl
il?
1
3
Tex ti Pac c A. O.
T.d -water Oil
-'2!4
127
33 54
15
ul 54
127
33',,
Tiinken Rell Br
Tobacco. I'teducts
7 Tobacco Pred A
. . Transcontinental Oil
IHi
2 Trausue Wins Steel 34
U Union Bag ft Paper 68
.. Union Oil 11 lj
10 Union Pacific 1 0 ?u
31.. United Drug Is: pf. 40
8 United Fruit 1' 7 '5
.. Unit Rwy lines' pi 25
' Lulled Retail ena 70Jj
. . U S C i P fc Fdv . .9
. . U S Feed I'l.nl u-'j I 'a
60
1403
200
103
103
3400
bcIO
400
200
5100
100
300
1600
100
500
300
27200
100
300
933
100
. 100
100
100
30e
100
100
1J0
J00
d03
100
900
-U00
400
200
2100
100
1600
Iu0
., U S lietf'iian .V.ach
..US I ud Alce. j . .
C U S Reaky . Imp
..US Reall;. ft Imp 113
.. U.S. Ru' Ik 1.
8 U S Ruhl). r 1st pf .
..US Smelt ft l'.cf .
3 '.3 U S Smelt R .'. M I'f
C U S Steel
1 U S Steel pf ... .
2 Utah Copper
. . Vuiiuiliui 1 corp
. . Van Ra.ilie
.. VUnudeu Inc . .
. . Wabash
. . Wabash nf .
1 Wi bee ft llei 1 en"
, . Weslt 111 M.n I.. .ul
. Wi stem luell'.. .
7 Weslelli Ui.jeii 'I.I
I Wesiliifjlieusi. A I!
1 Wealing I. .V M
. . Wheeling ft L K
2 Whitu i.agle Oil ...
4 Whitu Moter .. .
.. Whitu Oil ciup .
. . WleUwirv .sp. in MI
. . Willa ueiUiul .
. . ilsen Ce. .
8 Woelwonh F W
6400 ..
'00 . .
500 ..
30t . .
100 ..
100 3
500 ..
2200 1
1300 14
1003 7
000 ..
703 ..
100 G
3700 8
100 ..
100 ..
100 4
2100 G
7200 6
200 ..
100 ..
100 4
400 c
100 3
100 6
100 ..
100 8
100 ..
100 2
100 ..
200 ..
100 6
1700 3
34000 R
20700 8
200 8
3103 3
37 ..
2400 . .
203 c
2630 ..
103 f,
100 3
200 2
200 ..
303 ..
200 ..
31800 4
600 ..
100 ..
3000 IK.
12900 ..
400 8
200 8
100
103 ..
2103 4
100 2
700 ..
100 ..
100 3
1700 1,13
300 1
300 ..
200 ..
100 ..
300 C
300 ..
200 ..
200 . .
300 ..
500 . .
fJOOLSr. 4
20 . 20
13 6U
v 3 13
'a ',
53 52 5,
t7 'b 97 Ta
3''; i8'i
-B-ts -,
1C5'2 104
l?1h 121
U C2J8
Jj', .-4
13 CJ
14 14
l' 9
. 4 2 24 ' ,
'-' 4 12U
!' 4 II '4
' 'n 15 ,
1 1 'j ! 11 'a
.(' 1C4
-'4 59 U
'JM 9
i-0 50a;
''a 4'D
11 11 '2
6'rf ir.
e 36
1 9 ) 1 07 1 ,
. i JJ
33
199
J3
Wuilh I'uuip .V M
t.x-JHlJi'ii.l
DIVIDENDS DECLARED
1 .' " I lailltu-
.' .'"' i' a"i"
i ii.
i"i ' . i' " Jitliu
I'l'l I
i
Olllli.illl
11 III
"liicH
IV, .-ml
' i.ti i t
J i inc t
I'u'
' iii..ii, (.f
...tu, ,,,,.:,,.,,
k . r i nn i r .,
mi, rf. . I. a
t .
1 I
.' --..-..... ....in,
'iv in, .il ij ;
Pellsil
vv ',-n a
ptc'tel M I
I..' !
--. ' i
riuu minks. 2..':!
J.IMI,i
AIIS-
i I'll,
uungai)
oei.i;.
1...C.M,
i . ml..
Hell
' re
Im ,
. Ull
Jl Ml
I'lSIMl CJlti.TATIllVM
1
t I -- Ill ul.
n .,,., j .rB ,iuUllen,
.10 .. Il.l ,11 ..
' I'nlmvili'
' I ic a
I 1 1 Cf.nl.. i
1 t (.'.ocncl (.'.ecncl
l.uiu..
- . I - . . '" "
, , 11 ,-, en' j in n;
- INcl c, I cifATKi.VS
i rr.u
I '" (.ill ,1c.
1 11 . in e 1
" u.Tv ).! ii.".
, 7 .' l
MONEY-LENDING
M IV lllllt VI. HIP ,,, ,.,,
r . ,1 1 ' . p. nod iii , ,n
1 -I,' . 1 new ina
RATES
and Treasury Notes
cc
;'!... .
..!!" ill! IIIU
run. ui. 1 1'litv
l ,ei' ," 111.C
I I'I"
Ill lllltl
linen". :.li iciu, 1
1 r
lint
,'X .','. .'." J', r.' l 'I I HI
101 11
Pullman-Baldwin Rumer
me 7-111
.1 IIMi. 4 !ls
leeS 4 i
, , im 11. in
100 ine
tvi
New iirh, Die II 11 unveil
int a.tn 4 4,1
.V" "r,?L ,n',K,'lr1iK"!' ".'!!'.
I'nilvrHl turn
payment
aturlty.
'had nevvr bun dlicuntd.
lth ii ii .I '."" "'"" ".. "'"""ii nnu iiiidvvln urn
Snil ,0 J JU I ''nie f,'""1 lu,lh ,-hlpnBe nu J Ihih,ue'phik
rniiw i... -a "" n''"""" P'onle, clinr-p inhpfl the , in lur
PRICES IRREGULAR
L
I en
P. M.
N't
('lure.
OGAL MARKET
19 54 I- Va
2 Va
44 54 .
102 4 4
44 14 -
36 ?a - 9a
10 4- '
182 - 255
70
63 - 9e
V3Vi
18 5-5
134
56 54
K4TJ- 9i
113
61
?R4- Va
35 - Va
51 'A 4- 1 Va
054
45 Vi - Vi
22 54 4 !4
20 54- Vi
41 4- 1!4
46 54 - Vi
15 St 4- 96
68
I8?b
240 - 2
16 54- '
1554 4- 54
It 54 -
20 54 i; H
14 - . '4
39 S3
1 6 14
43
67 !- Yi
21 54 - '4
18-
11 - !4
38 54- Va
64 4 1
1 Va
65 - 54
1.34- 4 5b
1454 ..
3 54 4- Va
48 54 - Vi
b6 7b-t- Va
93 - 98
22
14 4-
77
94- i
45 4- ''
OTa- 'a
Ha- '
14254- 1
BTa- Je
38
19 4- '4
- '4
8691-
47 (b r Va
e29i 4-
76'5- 1
62 54 '- 1 '4
4', 14- 5 1
46'4
J'2
93';. '4
26 '5 - 1 54
69
41 V5
42Tb :
12T,
28'4- 1'5
4 .
49 - 5
58 ?8 - 9a
34 J- 14
22 '5 4- 14
43 !- H5
94 - 5a
130
Vi -r 14
1314
V7 J- Va
51 ' 94
47 r 1
82 54- 14
40
'1
19 "a 4-
21T8 ..
30 14 - 54
29 - 54
i-S-r !4
Wa . .
8- !4
1-3 4-
7 '5- IS
7 - 14
36 . 78
J2'4- '4
1 - H
100
9 U
43 -
UG 9s -
:3T8-!.
1 9 54 - ?a
115
197 - '5
117-4 -
6?b- 154
b ! - 14
re
'J7 ' 5 .
1-3 - 1
V'4 ' 14
4 '2 -
1 ..
0'2 Va
40 - 'b
53 t8 - Ta
21 ! lb
j Better Understanding of New
j General' Asphalt Agreement
! With Royal Dutch
The lncren-e In the dividend rnle In
die t". fi. I. directors from it 1 'e a (1
per cent per milium basis fell as tint
n most of the recent constructive news
The recovery of tlie teek from t" te .'L'
nppnreiitlj discounted the mere gen
erous policy of tlie beard, but I III- niln
iiill wns net held by setii" ob' ener-.
Tln lidding In stock was liiuie in eon een
trnst with the recent operntleiis, mid
siiinl! elTciiiigs Inter in tlie mmuiii;
ciiiiseil a shading r the cjintntieii e
r.i-",.
l,enn-lvallin ltinlrn.id v. ns unoiliei uneiliei
iliviippiiiiitinent sugging te f f ( . I ! v i -clently
speciilafive 'inklings mipiiicd
during tlie recovery fnuu the low cpiotn cpietn cpiotn
tlens earlier In the year have net been
entirely dispe-eel of. There are ren-oii-fer
believing some of this -lock is fed
out sjBtemntlcnlly nbee -If! nud oTcr eTcr
incs ate nutemtiticaily withdrawn when
'lie ciuotntien sink under licit ti'.'iire.
Vethliig, in all events, in connection
with tlie cempnn.x's opera liens would'
iiccetint for the peer showing of IliP ,
stock during the week, tip the eon-
liury. earning- continue te show sub
stantial gains ever tip. corresponding
last year, I'toef of which i- te be
found in the ellienl teperted growing
activity of the -te. !; indu-tr.v. j
(ieneral A-phalt held uji lietter, evl- '
dently ii'Hecting u liidter ui.derstnnd
ing of the new ngreement the com
pany has entered into with the Heyel
Dutch Shell interest in the Vene7.1i"-j
hm oil holding-. An elTieiiil stntement I
r.iw'ii out te correct tlie apparent ml--lincler.-tiinding
of Mr. SewaM's state
1 lent estetdny lieiriiing was te the!
c fleet 1 'in 1 "Mr. Seuall's nt'ontien liav
ing been cnllecl te the tV. 1 that the
-ireet in New Ycwk nud Philadelphia I
indei-'.toed his -t-itemetit te mean that I
1. view el certain censldern tlens that
the A-phnlt ('emp.'i'iy had agreed te nc nc
ept eneliialf of their former revnlty
ftem the Ileynl Dutch S'iell group, said
Mich was net the ca-e; that there had
I een no former en-nit; m kind but h
. iie-qiinrtpr intere-t in surilus net
profits.
"It is well understood nnienet oil
men t lint it lias In mi tlie custom for
many jenrs te pn -isteentli. 11 tenth
or nn eihtli rmnln in oil for lenses, 1
elc. a reyi'iti In Kind of cine-eighth
lning gptiprnlh 1 .uldi-ieil ecpial te '4
per cent of net profit-."
Philadelphia Stocks
.svt
1 T It. chse
Ml -f-1-.,
1.. V
t'0 . .
ir.fi v.
.IPC-..
57",..
4(1', -,-!"-,
Rich
10 Am fi'i-. . mi
'." Am Kwj-. 1.'!
'"i Am R- pf li'l
uri Am St is. ."i5
-.'(.(( M'.lltte & S ill' j
ii i:iec ster. r,?'',
III Cm A-eh 40' i
IDMInpp Mtr
far L'.'-ii
.".00 I.k Sup i". r.:,H
.MM5 Pa It It.. -UV-
."() l'hila Ce
cum pf.. 42
L"0 I'lilla Klec HI";
.".711 de pref.. .'IPs
m p it t... :ii
f) Philn Trnc .,
200tSincIair.. 31 -Vt
100 Tc.ne Hei. K,
i"iTone Min. li-
2L'." I'd I T.'l
K'On'S Steel. 1(1.-.
." Yerk Itwj I'.L'
Ml
I.'i
llll
I. -.15
ic -
ir.
V's
40',
42
:n';
hi
:ier.;
r.
ai -ii
1v
2-i;
r.i",
KJiL-r
42 ..
:..
:u
:ti . .
or. . .
rti"f-
2--;..
10.1 4-
ie.-
.e
-1
t'h !iit
. ct e ,nce nu ,! I
c-len
., en
Nw Yei .: .-tick Kch ir.ffn
I-IIIUMIKI.I'IIIA lllM)S
1000 Liberty 2d 4',s '12
1.-.00 Liberty 4th 4'H '2
r.flOn I ibcrtv 4th 4',s '2S
11000 Alai field r (is Ser A '2r,
2200(1 A 'as fie'd M (1- Her II '20
2-1000 I.nke Superior inc .Is...,
1000 Lehigh av cons 4' .s. . .
KlfKie Phila V. eetrc 1st ."is. .lets
1000 Phila r.'eetrie 1-t .Is
100 l'hila nipetrl,. 1sf .-,.. .
21O0O Phila I'le.'trie .-i..s. . ..
i.s:.:;(i
l.s.72
05.71
2P,
001.,
ioe
!'0''
101 t..
101 ',
40(10 l'hila i:ieeiri.. (U.
lets
News for Investors
TIip I'.anU of Diglnnd minimum dis
count rate remains unchanged at 15 per
cent.
A IOiulen cable snys the Peruvian
- i
(Jevernment
Ti
ppr cent (jiiane
subscribed and
lean
liath
J.
I
as been fully
54 Va -r
eO'j -11
7ci
-3 f-
closed
Frnxler
kc f'e Inc.,
. (ioedmnn is
announce that
new associated
of their bend
Charles K.
with them
as manager
- i
department.
1Un-17T8-
48 -:-
1 7 15 -l
!
.0
; 0
1 6 1 -
'a
53 ---77a
r
38 55 -4cJ'8
-c
1C4 1-
121 4
U3 -24
-63
-14
9
24 'J
12 '4
1".,
15?a -
Ill 'a
104
594 -9
-32
? ;
50
4'b
II1!--
l'hil.idelphin Company dP-ecters me"t
today, when it is expected plans fei
the linn I n ccrg uii.ntii.n and timineiiu
of the I'lttsbuigh Hiillwuys will be for
mulated. In nplte'ef an epenttng profit of
Sll 10.0011. Par ig. iii lt.-imitig Company
icpei-ts cleliclt ul S"-- "'in for the .vear
ended October III afer clediictinn of
lax, depreci.it. en v .1 niiiei charges.
A total of Se.Ls-j iiihi wu- paid for
memberships in !i- New Yerk Stock
I-Achange since .liiMinry 1 The high
est pi ice ter a seal wa- SlOO.OOi) en
.liine. 2.'! nnd In lewc-f price $S(!,0(l0
en Kebrunry 2.T.
Net earnings of i'ie T Ibbey-Oiven-
Vi
I Sheer (il.is- ( leinpnnv for the venr
I ended Sept mi-.I . i ..' er. AI .710 72ii.
utter el diietlns i.a, -.il inves. fet
income v.n tiincit si . i.i.-t.u vvitli
' lliv.es estiiunli ci i .J .'i.iuiii.
I he I'rin. in,
tvvent) -.vear ' .
a war. lei I te .
.11!). .V.I. Cn nudum
i uuad.i mil) . 'I lie -
weie !)'.). -11 'nnd P'i
-Tlie c ni-"li. He
American ltndi'iier
I siiliurie- for the ic i m,
' tuber ."I . us -ul, mine I i
1 Stock Kveliaiige sinews
j.
1 sHl,l2s ,ttel c 'lll'Sc
lltlei. but before lnie
i; I
I The ion-eiili,iei ii.....
1 lie Dominion Slerl ( . 1 1
.'ll'l Ollstiluc I lit ..I'll M'i
months i im. ,i ', ,i
' filed te the c , .,i
c iinnge, ipivVs in i lu'its
i ,, , ii ,
frn
. Me r . barges but In i..n
The l.ehigli all.)
.1 , -,
II
uf ii.,
in!
l'.lll) en I'licluv w II pnv New .Ter
the lii s-t iiistalhiieut of s.7.i.imiii
Ai,,,.. i, ,
',;,;
,., , , ,.
"
Hie porileii c t the Mcir - Canal lie
i.iilnjilel cniupnti) is te i.'ii n in .ler-i'i
Cit.v nud Pliillip-biir. 'I'lns M)iu n,
em en. ....
H HCCKl, i,f
n eroferrc-fi
if ret-jru no-
' "'"' 1 11" ti c i, te be p,i,
isptal vein Iv in- alliiienl-
ill II, e
Id'cc Ivers e 1 1,,. , "i,., .,.
Ituilr, i.cl implieel ,. il , u
inerce ('ciiiiiiit 101 I, 11 ,
He 11 ul sell "-.'.ill. '.huh
Hill. .lies. 1 .pi i.iiti.i
1011I in roe etii m.iiitlis 'i
c .1 re I nisi pi mi c, 1, ,
iipplii.'itii.U sulci, nuiile lli
' i'1' oil'- uece-Mli'v
- i - i
A'i
c,
uuai
m
, hi,.
1. en
1 in r, ,.
f
. ...0
1 Merriii. I,,v neli .'.. Ce
Abbet & Ce , of New
I dig a M nilinili- whi' h Im
issue of Sl.lMlil.Oili) tu si in
ii,, ..
nu,
llai i is
ik. iet.- bend,
pui' has, ,
Denied
igie .e (wen-
i t.v-.vear
I'd' ct'llt nil, .llli? I I
l.lllg I llecl I e). T4
the Columbia H
veil. M.iha.. nn,! fd
III,, mcrl M H
"3W in
ropertu of
ver It in sold lietids ut
Textile C'emnanv. of Lew
-, """im nn.' piiuiic next .lien
da) ut par and Interest, jlelding 7 no
VCIII ncCO .tc.cn .. II... . l.ll . ..
I- US
,HM
I
,' I ' i' cc , S.,.00(i llllel II -. rmfm .Ml
1 1 i In n,s ui ,,. II
' ' ' . i A u 'i (j I
f'.ie - 1 r nn v no 'ci n, fJ I
i , ,. . i Vv'
"il .1 nil i ll l I M ll, s fc .
,'C '. ' j
c' del lent of t .' Illf
( '.cini'.iiiv nnd sub- '
mlis eiule ! ( I . ' Il
i I lie New Yerk
net income of III
s jl Ti. 1 llelire- III!
ni .i. count of I 'j'l
Hen. Iii.' j I
-I ' lice n ii" l
" ..S Sl'c j
k Ste Ii Dv-
. f s'l.-Jte', i ,-.-, j I
I. plei'l.ltli.n ,ll
li.i ' ."el I',,,, , T.(
ui ' I'll
.,,
-l7'rTiu vmt-n r .
,-jIMW. JSJIHI Lomeard C521 I
1 Ti SSI v I .i
il
THE M. A. HANNA COMPANY
7rl Cumulative First Preferred Stock
par Vnlte of Share $100
Free of Nermal Federal Income Tax
Preferred as te heth Assets nnd Div.dends. Redeemnble n
whole or in part at 110 and accrued dividends. Dividends
payable quarterly.
An annual sinkinu fund of 3rc per annum of the total nmeunt
issued provides for purchase up te the redemption price or,
if net se obtainable, for call at that price.
Since 1885 (he nverafje return has been mere than 22re per
annum upon the overage annual capital and surnlus invested in
the partnership of M. A. Hanna & Company and in the com
panies new wholly owned for the period while se owned. Durinf?
the latter part of this period, with steadily increasing capital and
surplus investment, the average annual return for 10 years te
December 31, 1921, was nearly 15'r, and for 15 years te
that date ever I T"c.
Application vill be mnrlr iv thir course
te IM en the Xciv Yerk Stock Exchange.
PRICE S102 PER SHARE AND ACCRUED DIVIDEND
from December 20, 1922
TO YIELD 6.85
BATTLES & CO.
Established 1890
Independence Square (East), Philadelphia
rvfflllSTllll
um,
What Arc ihe Facts?
Individuals, institutions, financial houses and banks
throughout the country consult Peer's Manuals of
Industrial, Railroad and Public Utility Corporations
for dependable statistics and rely upon
Peer's Rating Service
in determining relative values of stocks and bends.
peeic's
Financial Services
Established I860
Oldest Manual Publishing Company
in the Country
Manuals Rating Service
Peer's Daily Digest Service
Our services are available for your use in leading
banks and investment houses in Philadelphia.
Peer's Publishing Ce.
33 Broadway New Yerk
Demand Peer's Ratings
$100,000
Commonwealth of Pennsylvania
5 Per Cent. Bends
Due July 1, 1951
Coupon and Registered Bends Interchangeable
Tax Free in Pennsylvania
Free of AH Income Taxes
Legal Investment for Trust Funds
Price: 117 and Interest
Te Net 4 Per Cent.
Biddle & Henry
1 04 Seuth Fifth Street
Philadelphia
fr 1- '. ILL
erasure
s.
jTErr-iwrarw
ERNST & E
AUDITS
COST ACCOUNTING METHOD!
TAX SERVICE
2023 LAND TITLE BUJLDii?;
PHILADELPHIA
Telephone. Locust 2681
?5li,lii,i
iwi'iiiiiirriii'
1 11
CHRISTMAS PRESENTS!
(live veuir
S'c ctrcr
Wltf 01
cc liserv
' 1'
till
(
ltle I.
( ,
ARTHUR PERRY & CO.
BOSTON
Investment Henda
Lafayette Building, Philadelphia
New Yerk
Lembard 6521
S
inpamwi i in iffiiffiiiMji! im iiiiiniiiiiriiiiriii'uii'iiiiiii riw, jf iiiMiiiiiiiiii'inimiiy
1 1 1
RNST !
5
?5FL ... '
11 'IH'c .1,1,1 I'll
uiiiiuiBmrj
ur 'ma- nu -c nt n lii.nii
$1"! and $.1(10 ek-neni, nations."
in AViei t
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