B-r
t?iy
.J
!;!,"' hJ
iiW
BPiiiwiip'if"'',TF...'.i w..-f.x 7" th'i ;.i,7r, .; : w.
Wr :
-r
l
MW4VMf
v
X
k'.
OT7S 1 - i -J. ! "I . 1 l
'iS iMtt
s" ..' ,v
tiSSSBP OF
THESTftEET
.flBs fte'tan' JL""!H".T
i- t been nil i :"'
rtrtr- "?,T- .r.ii .iitlhe'sreunu
Softer in an uptown beard room
wJ.3i. "Crew, out no iirmry., aer
!TtaUi this year, and my liteniw.;
aarerSCn ", -,. . rri.. uui
ess
1L vromunltlen
in Wall Btreer.
?1. Jlrwnrn foek a
Aenncn ... from,- he
The Ureat
big slice of
mwiMi
51m .then Mr. Mergnn threw n mon men
fflcb In the market machinery In
JW.,WV. .. kK hn nve the Ocr-
?'. TV. .i. hnh he SI
(M'C- --." rr;- -.r
M man iuu -. -
BM " . .
avc the Ocr
ke Unry, .net
the' bull ranks
"7i. ..u.ni slvrs
Xr slim by stntlnr nn extra dlvl-
Ami. In' any form, is nei unner con-
ffi?id ChrtatmiT. Snl, 'H days off."
'!jX Gary's denltMf the United
ii.tts Steel melon-cutting decj net
rVrprlw me In the least," said a down
im broker yesterday. "The market
enS let this stock dividend
Mniiie badly they cannot understand
ihrTsny company with a semblance
i surplus should net proceed ,nt
.5t0 UlstrinuiC H 10 ine mecanuia
J; The Russian Bolshevik Idea
JJJm, te be rampant among the trad
ing, eleeicnt.
"'When you step te consider the
M 'steel Corporation, after' paying
Sh-Mcnds, showed n deficit for the last
te tears, It would seem entirely un
reasonable te expect such nn lntelll
natibedy of business men comprising
the beard of directors of the United
(Kites Steel, Corporation would even
consider, a proesltfoii of 'making nn
Htra distribution cither in cash or
jn tock dividend under such clrcnm-
lUnc." NJ
: Illinois Central's Big Year
' minnls Central is closing the blggcNt
Did i best year in Us history. It has
carried a record amount of freight trnf
te', improved and augmented its equip
ment of power and rolling stock, built
no hop forces 120 per cent of normal,
btrun work en the $88,000,000 terminal
In 'Chicago, and earned approximately
$10,11 a share en the common stock
liter allowing a full year's U per cent
dividend en new preferred stock.
Preipects for 1023 are even better,
vlth three principal commodities, coal,
hmber and grain, moving better, and
Vlli the Seuth and Middle West ex
tending their purchases, "Bays C. II
Virkbara, the president.
..........-.,. 1.U.4 a. L...i. .: :1 L
lviinuTO-iB-ieii-ieT IDS' DUIIB te-meiBS
ammunition .this morning and we leek
for the market te remain-Irregular, with
weak' spot-appearing, lb ,sesMmnu
lecturing snares where there .are no
reasons' for' beDlna that the martin oft
j profits will Increase InUfae near. future,1
fore us In' this, connection, where orders
for future delivery are falling" off,
which, 'of course, 'Is sessennl.r but does
MA- ImMAM t.AlI.- MA.J.JIil " v. a k
T'The Ilepublle flttel, ter instance'
naa financing Timier consideration &c-
cording te these familiar' with the, af-
lairs of tqe company, The plan Is. ex
pected te be announce shortly, or. as
seen; as some. .banker, will. take charge
of. the new issue, supposed te be'ln "the"
form of bends. If a. band Issue..lsde-,
i-iucu, uiiuii,, inc iircierreu juviaenas oe ee oe
ceme mere remote,-with-a common divi
dend nowhere lit slghti;1, .)' ' "-, '
'Weitlngheuse Air, Brake, j '
. .The action, of directors of .the'-We st-
ingheuse Air Brake Company .-Jn.-nre-j
nosing a capital Increase from $80,
000.000 te M0.000.000r land, declara
tien of a 35 per ceht" stock -dividend;
ns, well, as reumptlon'.,ef the-regulsr
$7. annual rate, reflects the unexpected
general ,linprevehren.lnr-th elrl-hrake
business compared with 1021.' . . ',
" i In the year ended December' 31 1021,
Westinahouse 'showed net inceme:
'after charges and inventory, adjust
ments, of '$705,540, equal;. tq fl.Cl.a
shore ($50 par) earned en the $21),
144,200 capital. i stock ; outstanding,
compared with $9.15 a share in 1020,"
Although the usual dividend of $1.75
quarterly was paid lit .1021, it was
necessary te dip into. surplus. '
In March, 1022', It was pointed Teut
that with n return of better general
conditions and .rcsumbtien of .railroad
buying, business should ripI-Hy return
te, normal. However, the beard .-de-elded
at .the March .meeting, that! .Irf
view of existing Industrial nnd finnii
cliil conditions the dividend rate should
be cut from $1.75 quarterly " te $1,
which .was pa(d jfer the .first three
quarters of the. curredt'year. ,
ivKGrMMeit)&EagpairPELPHlA;'; IBPNESPYi PEOEitBfiB- 20, 1922t
" l . - .i - v ...... J.-. ' W Lk m mmtmiaitt aaVa ' tmmmmtmmtmmmm
ft
B7
kavrta. itaKv. . .'ttii .tAtatiuMtniiiimbtlen
la'aSOut l,tWQ,00 tfarrcls da ly ibeut
tecengure;, ' '"'' i.
'Xe-eam up,, prenrat" consumption
exceed he production": of the -,Unlte!
Staie.by, about' 100,000 barrels jday.
Iheludlrtg "the' 200,000 barrels Imported,
from Mexico, ,1tetaI production lieajy
lOO-.OOK parrels, per day f efcesa'.Of
t6tarfcolBsuIIptleh. .''J V f
EGYPTIAN Kl'NQ'IS tOUJB-A'
. : MARYEM TO SCIENTISTS
i - -V-
-: : rrrr. ;. t n t : .. -
i i '-, .--. .A '
Dliceverlea, Surpass ' Irrtiglnatlen,
l ''Dr.,,ira.t.d Decjares. ,
I" lefcii,..,Dec..'20,'e'arcneolea1ca'l
i.ett'tne
trealures
recenUyfudlacevered.
t.mh of ' Klnjt Tutcnkhamun , in
ValltyMf )he,Klng a jvere. deirribed; yea-j.
trfrdari! W th'e (AmerlcanKgyntplwrlai;
V. -.". - i..tiJ ", . V-.ili.i.1 ii
the ."Caire" coifreipjendent .of the. 'Tlniel
I "I spent nn hour In the-Tulenkhamun
niUNlUIVIIK
I lil ACCEPTED
Italy WIN, ;'enhct With
-Fermtr Oirman Line,
te 'America
r!"V V '
insteHek'.lili I
- T. i i . ."..v ''..-r
8U(cltt .th intrveiprus .reiilUy. f It J
..faiL.V4ruMea(ai' 1tWftffTlH V tfOttlna. W
r;'! Mntechamber of hnVPhhrRnhr
trimh ! I filled fWitli--ninrnlfleent' eeulti-
irient; w'Jttb.Terily;- the wealth ennlett
uor4eine- iraperjui mra.ni.- r.gypi el
vdi
the'7 feUtteedtli, 'century before ChrlK
3
c6uld haye. Wrptight .or cencelveil.Vteid
WitnTeveryrning,' sianumg qs,vtniaccu
t here'; when .the. tdinb was last closed. In
ifitiquity.v; f. j , . I ., -.u
i"ln mere quantity of furniture .found
it fa Surpasses all precedents In
en
Loek ifer Mere Weak Spots
There lias been a striking dlvcrtise-
fctnt In the views of two pnrtnerti of
ane of the big wire houses concerning
He market position for some time past.
One of them has taken a decided bear
Jth position regarding the Industrial,
division, and, In a nutshell, believes
many of these stocks can be purchased
at much lower figures. This is what
he said yesterday :
"ery little news overnight of Ira-
Crude Oil Geliii Up
Frank D. Klstler, chairman "6f the
beard of the Producers and Itefiners'
Corporation, declared yesterday ' that,
In' the fuce of the Increasing demand at
home and abroad, the outlook Is de
cidedly geed for the advancement in
the price of crude oil arid refined-products
until production- la sufficient!'
stimulated te meet the needs of the
world markets. Laic figures show, ac
cording te Mr. Klstler, that current
consumption in. .this i country exceeds'
the domestic product Ien, of crude oil, in
the United States by about' 100,000
barrels a day. v ,
"Mexican production," said Mr.
Klstler, "has been the measurement df
price for American crude. oil. Prices
rise nnd fnli with the. volume, of Mexi
can imports. Economically and geo
graphically, conditions, are se Inter-re-In
ted that the 'tail arwinc th W '
L Mexico Is new Bhipptnfus about 200,'
WW barrels- dally. Mexican imports
have been declining "since May from
500,000 barrels dally. The United
States is producing about 1,500,000
lnent' In 'the- Imperial nee., aulte surJ
pasting anything 1 ever Imagined. "i ,.-
i S?'--?".; TT-'-r7F "? -t
GERMAN
ARD.EBT-MOUMTS
. r , tj , i
Ul'um ,Has;Adyariced. (l4'f500;opeU
000 -Vrancaen Reconstruction I,
ifrusiels; Dec! '20.' ' (By A. Pi)
"- Premier Theunls; speaking, lntne
Cblmberef-DeAWt'es. today en rcpa
rations,. said Uelgiuinjipite. the present
tlml ' bad i.-'idvhced .' 14,600,000,000
frnflcs-te Germany; for restoration! of
devastated regions." ' 1
They ' demand 'Germany 'should rccog rcceg
nlxenhe wrong she had done RLddeyaljy
repair them'; otherwise it. would he iuT-
ueMlbl
budget
ilble for Belgium
te ba. suce-
her
f
Announcements was made 'sevcrhl
months age, thatr Belgium. bv.'. the, edd
of, 11022 would have exptrded, 10,000,
000,000 franca -en reconatruetlon,' the
H'meiint te be.repiild.bysGcrhianyr ,
, ' '
TORPEDO SEVERS FISHING BOAT
MIL, - - . k . .
.lOBJen, rntnee, jjec. a prac
tice, torpedo, bdly aimcil during naval
maneuvers, .yesterday" struck, a smAll
Wat containing tWa fishermen;' The prb
Jeptlle.cut the beat-neatly In tke and
tossed' the occupants Inte" the sen'.,
Neither if the men was" hurt. ' l .
ORDERS ROMMZORES LINK
icTVaahliigteii,' Deen20.--The Amerl-;
can pinny renine uivmiwb i we "
'Oennan' cebles 'in the; Atlantic vlrtuallj;
has-been 'approved 'bVthe' pewera In-.
;tereatedvinAthealocatlen atd Iialy
nlrea'iiv' bait let )a' contract-" for con
structien of a new'cable te the Axerca;
The.'American.propeaaI made at a com
iriunlcft'tleris't conference ln; Washington
ime"retb.ah,:a 'year,.. .! called, for vthe
aselgrlment,of:-ene-''oI the. North At
lantic t cables ter Great Britain and
,nntttl.WtMlv?!fl,' nravtatnn ef1 n
new' llne'rtrem' Italy te the Azores. -'te
gi.vcvitaly;. direct connection; with 'New
Yerk 'b7''.Way"ef''the. Perfufueaeislands.
-1- -,roe'Cflnraci:ie'. n."?.ppp".ii in.ui
the., r.ew. Italian .'cabi ', ', It "' was"" aii-
nnn'nM,l TcMtnnlar. .wni . In thii .f!arde-
slce Compahy'efrlulyiandinrpvldes for
the .laving or modern, cames eeiween
I-'Iiimrlriee.- net fnr' from -Berne te Farul.
Azores.'' The completion ef-vthe line U
cdlleil frtr tufttiln. n .venr'.srid nix menthii
nr.d'under the present-plan -the .cost of
consinictlen Is.' te.be. paid for from the
returnfrem the use or the line.
iTfie -. total ' length of " construction I
estimated a f about' 2000 miles' with the
-i-nderslandlngt'thati eventually . it will
.be extended' te Mediterranean points
Ir. the 'Near East,;. Construction of the
cable, 1 supported heartily by Amer
lean. buslness'intefeats.'whlch.hare been
.handicapped .by lack of direct com
munication with Italy.
' The .American' Government, it Is un un un
derstoed,'..ls,"atlir experiencing difficulty
with . thev Portuguese with . respect te
landihg sfacjlities 'for direct cable from
Germany te the United States.. Portu
gal's 'close association with Great
Britnln.Is said te, be Influencing Lisben
In hampering direct communications be
tween New-Yerk nnd Berlin.
EARLDOM FOR LASCELLES
, JF FIRST-BORN IS A BOY
, . " ' '
Kine Geerge Would Make a Grand-
, son Viscount t Birth
Londen, .'Dec)"20l Should the bahr
cxpectM at thecema .of. .Viscount Las
celles and Princess Marv cnrlv in ,i.
new year be a boy it Is likely his father
.will becreateden Earl by'Klng Geerge
"e me oey may automatically become a
f IDWUUUlt, V
t
.
$1,500000
Merritt-Chapmaii & Scott Corporation
10-Year 7a Convertible Sinking Fund Debenture Bends
: ... - i
Dal! Janaiy 1, 2S ' - T utm Jaawy 1. lfSS
Principal and interest payable in geld at the office el W. A. Harrimzn ft Ce., Inc., New Yerk City. Intereat
payable January 1 and July I, without deduction for Nermal Federal Income Tax up te 2. Pennsyl
vania Four Mills Tax, Connecticut personal Property Tax up te e mtus ana iwassacnusens
coupon Bends in denominations ei i,uvu ana
,",,v
Income Tax ue te 6. refundable.
. , S500, registerable as te principal and interest and interchangeable.
Redeemable at a whole (or in part for Styikmg Fund purposes only) at 110 and accrued interest en any interest
date en sixty days' notice.
Convertible into Common Stock of the Corporation mi the -Basic Conversion Price of $75 per shore
A Sinking Fund btgiasiag net later than Janwary 1, 1.928 praridas for tba retire-,
, meat af a minimum ef $1,200,000 of tkeae Benda by maturity either by purchase
s ., at net ta exceed 110 and accrued latarast er by redemption at that price.
. J ' '-.-"- " ' v
1 ; j - ' . ;..
(Additional Iaaue)
$5,000,000
Electrit- Bend and Share Company f
i H
6 Cumulative Preferred Stock r : '
.. (P- Value) of Simpm $100) . ; j -;
Free from Present. Norrajceme Tax ! '
ciUAKANTV trust company op new Yeax.RKG.sra. BAitaaas TRUST cem-anynxw yek. T-aya AQXNT ,
CAPITALIZATION ,v., ,. . v ' ' "
UP cempletitm of preinrt financing ) - ' , .j-
5rfed8tedc6-Cum5r .
CommenStock j- ;..,..,.;.. 20,000,66b- 16000 . .
lnh:1CeWnlpit!y!tmatin h auma""d "emUletter siined ty Mr. Z. jkitcHell, President ,,
Guakantv Thust Company of New Yek, Trustee
CAPITALIZATION .T?hf ,
t Auikenud
Ten Year VA Convertible Sinking Fund Debenture Bends (this issue) '11,500,000
7 Cumulative Preferred Stock. $1,500,000
Common Stock (no par value)....;..... 100,000 shares
Te be
Outstanding
$1,500,000
91,500,000
53,000 shares
7'
Business:
Electric Bend and Share CrmiAatU r;M...,.4 w.cJ. nl . . .
financial interest in EJJSA Uyl ThSd,
SSSfimfm 4 renderseifierSsisUShn
"T. A. Scott, Esq., President ej the Corporation, summarises from Ms letter te the Bankers, as follews:
' HISTORY The, Merritt-Gnapman & Scott Corporation is acquiring substantially all the plant, equipment,
business and goodwill of the Merritt. and Chapman Derrick and Wrecking Company and of The
T." A. Scott Company with the exception of real estate which is leased for aterm of years with an option te
purcnase. me corporation is also acquiring twe-tnirds of-the capital stock of the Overseas Salvers, Inc.
BUSINESS ; Tn' business of the new Corporation may be djvided into two parts: (1) The salvage opera
" tiens, and (2) the harbor or' "inside" business of heavy derrick work, lightering, and construc censtruc construc
tien work of every nature under water and in connection with shore improvements. The two predecessor com
panies have for many years been known as the leading wrecking and salvage organizations in this country, and
their operations' cover the Atlantic Coast and inland waters from Newfoundland te the Straits of Magellan,
with stations conveniently located. The Merritt and Chapman Derrick and Wrecking Company has for a long
time handled practically all of the heavy lightering in New Yerk Harber. The management of the Corpora
tion will be a consolidation of the managements of the two predecessor companies.
PLANT; The planCand equipment comprising the most modern type derricks, lighters, wrecking vessels, and
- - miscellaneous salvage gear, have .been appraised at $4,215,000. The new Corporation has contracted
.. . P.ur.ch.ase of P,ant and equipment formerly owned by the United States Government, Navy Department.
. which will bnng the total appraised value te $5,115,000.
SECURITY ; These Bends are a direct obligation of Merritt-Chapman & Scott Corporation. Under the terms
. ... of the, Trust Indenture securing this issue of Bends, the Corporation covenants te maintain net
jfnS'Me assets equal te at least 300 of the ameurit of Bends outstanding. Ne dividends may be paid en
the Common Stock which would reduce net quick assets below. 100 of the amount of Bends outstanding.
Trust Indenture also provides that no mortgage shall be placed en the property (ether than purchase menev
mortgages, en after-acquired property) without consent of two-thirds of these Bends and a majority of the
ireierrea stock outstanding. w J
ASSETS; 1rat.B?CSrhMl,JUc.0,Dec!5mber ' 1922 after Siving effect te this financing and con
these Bemb 3 tVut DePartl.mlt equipment, shows tangible assets applicable te
these Bends of ,$6,515,000 of which $1,400,000 are quick assets. The Corporation has no currenuiiabilities.
E-MWPTCS- C,!d.ted f"1!5.0' the mered companies as audited for the sis years and eleven months
- ended November 30 1922 available for interest charges en this issue average $697,1511??
ZZ? Umf the ?e3u!ment' The daily industrial or "inside" business alone, has shown .average net eaSs
ever the above period in excess of V2 times the annual interest requirements of this issue 8
PURPOSE OF ISSUE: The purpose of this .issue is te provide additional working capital, and funds for eav
ment, in part, for the U. S. Navy Department plant and equipment.
CONCLUSION; gjjwwt authorities, ship operating and inrirance companies, having in mind the efficient
distribution of plant with the greatest- possibhrterritery Jnder its protection, havelrS? She
merger ef.tfae two active agencies in this field. Among the subscribers for Common Stock of the Corporation
at 50,P.er share who will be represented en the Beard of Direct of the Corporation are many leading IhTp
ping-company, including Standard Oil of New Jersey, Standard Oil of New Yerk, Merchants' Shipbuilding
Corporation, Pan-American Petroleum and transport Ce., Atlantic Refining Ce., etc. anipeuiiaing
geffer Jhese Bends for delivery when, as and if issued and received by mA and subject, te approval of counsel,
- Price 101 ZA and accrued interest te yield ever 7.25
All Irrml dtiaUt in rmtvllna .(! Its. ;.,. "ni L. ...j . . i ., . .
for tie BenmdMnm. & W, C? Yerk City,
eccn ouei ra una ctntjiea te ey Metsrs. Lybrtnd. R,:s Bret. O Menltetk," A .,., 'I'" I ""'"?"?. 7 accounts havt
tuna uurancr m jaeiiTi. ereHM i. Martin & Stn,
MontteyytfUZ ll' tl Tltt
W. A. HARRIMAN & CO.
ims.ri.ra.4
HEW TOHK . PHILADELPHIA CHICAGO
F. S. MOSEJLEY & CO.
BOSTON NEW YORK CHICAGO
FRAZIER & CO.
Incorporated
PHILADELPHIA NEW 10EK
bLi.!f!!!!St.in.Js.ubfcL"P?n ?W? tateets wd sUtiatics en which ,. i,." ,,,
we ae set juaruitee it but believe it te be correct.
a the purchase of these Bends.
Purpose
of Issue:
Previsions t
Proceeds from the
purposes of the
Earnings:
Dividend
Recerd:
Equity:
Cnvl?" ,?i" te "T1 teral'cofperate '
Company in expanding its business. '.".,
Company has no mortgage or, funded.debtl Un&r.the By-li-vi ne-indebtedne
Si" J8 Prif"Td .ate cuiyiuktiVe, dividendsatthe ratec6 per annum
Ne dividends may :p.kimeV.StcV?unieH; afttc S pVySTheTe
teiss'Sai del,Ser 3V'19n Net,Incerne,.aftertFederal taie,, was
StalSe?PfenSsS
of the c-.fS 7 tT trtanding, including this issue. The Net-Income
increased from 5 te 6SBier .n. Za'uZZEZ rSS'SZ.SP1" S
since then. Common Stock "ha, ."'..-"l.VT7:.r 'J" "
e July 15, 19097 -T"." ym. "-u.ei etss tnani8
annum since
rate
per
iAuc:risr
m.m ..
Company.
owned by the 'General Electric
All legal details in connection with the inue of this Prefem4 s.w :n u j i. .'. ' " ' '
Yerk, for the Bankers, and Messrs. Simpsen. Thacher lSet?2Sii v t?fd.?? M2: whrP fc SMmsen, New
' are audited by Me Umrwlek, Mitchell ii Ce.! IXSJSsJiS
Successful
Speculation
Strang as it may seem your success In the marks 4rprrA
mere upon when than upon what you buy. " "
asbZ!..!!-rf A0 gowns both itcUtiv and in
s maxkaes snestly u It governs our mschsnlesl arKTsclentific worlds,
a rK!?iftnifenc.2P ,l"eXPal Meiriries te flucrusu within
a range of th. 10 points. Thssa "ripplas- cannot be fer-rt In , .
iMiCJ.l f . . " ..
luHnrn fei ETELzr""""01! "'Petviibls for miner meyements
bTrwteiwa0,?1' -,eng r vnmw u kept up- "
.r th. .be,, .ieck wh, . d 4f mmhmmr Nbkt u -j" . .-
97 and Accrued Dividend., fromNerember I, 1922, te yield .bout 6.20
t
V.
,.,(.
- I ' v S
Bonbright & Compi
w' uMnmatrart- PMLrllUk;.
W. I
Th iBfermatlnn ennra(nirl In ki. J. u .. .'."".' '
-mwmsjM ..Mal ftew urees wbtdiW-i- - . . J
' sinusal i i rT: tSWSb
.- iTTT. " - ... '
While i
I 'V
:.'.?
Th Lentrwing Method
maJ2SrALi'Ttd P01-01- underlyina the bu-lnet world,
SSmS.? t W4LUin te,tTv J regulsr cycle .hewing an
jdHBsJme-t deck like regularity. They can be ferece with
. ecu our ac tne top of the bread
rise at 30 te 100 points profit.
4. Held funds liquid during die
down swing.
RESULT Yeu enjoy half again te
twice the usual return without the
risk; worry or lest Involved In ordl erdl
nsry speculation.
The Opportunity New
L ...Certain stocks are st or near the
-tem of the cycle snd should be
purchased st once. Others sre rspidly
ppreschlng a buying point.
fjrpu are a buyer of stocks snd
mss this opportunity you msy have
wait three te five years for another
s favorable.
rjfflvfa,..V-..iaj. ..x,.n.
r,JTK'rrs
sM- '
'.;
n .
' I .-
-V.H,-wJ -i
I
The easanem sense method (s
evident. Insssed of gambling en the
"rurtdet"---rnstead of tryfng te run
ctess ewrreau) or counter te funds
reesKsl oandhlens, take advantage
of theta.
1. Buy at the bottom when funda
mental conditions have forced secur
ities far below their true worth.
2. Held through the rising market
In spite of miner movements, rumor,
ad gossip.
Send for Booklet Today
SWfyc4jkf6r99ekUtb. MMu j- 'Mfclm! '"'""""'
ase Year Secretary
Write Babspn'a Ststistlcsl Orgsn.
i if wesiey mils, ex, Mass..
ss fellows! Please send me copy
of Bulletin ssmu mJ k.
st '"getting
Yewr Mn.
A I
Announcement
Mr. Lloyd A. Munger
has become associated
with us in charge of the
bend department in our
New Yerk office.
'A j
A. G. Becker & Ce.
1 1 1 Broadway
New Yerk
137 Seuth La Salic St.
Cliicaire
ST. LOUIS SAN F1UNCISCO LOS ANUKM3S SEATTLK
December 20, 1922.
I
I
Babson's
REPORTS
ishsen Ststistlcsl Orgsnlxatlen ' ,
CAMMMrtalksW'aiU.
WES
(33
Georgia Railway & Power Company
SECOND PREFERRED A COMMON STOCKS
HARRISON & CO.
BANKERS
106 SOUTH FOURTH STREET
PHILADELPHIA
Members Nmw Yerk and Philadelphia Stock Exchang..
GEO. A. HUHN k SONS
awaew:
' and t)Ucn Stsek f xcluai
Ytrk
beuebt'
OWI
.Ml
S & BONDS
Mlal for r-aali n 'mhI
LSMiln. "
t4S Walnut St.
Alan A. Alexander & Ce.
Stocks and Bend
Colonial Trust Bldm Pkllu
.a
x
'
I
si
alt'l VV-il",
i!&h&!MiMi&i
aaaaaeeai
I,
wyti ,.t t 4' ?i
sssaajjaiwis'1
kt
M
trJLi'l&-tl
jy i mtA
maj&K ,,,