$p
ItF-
Fsm . H
iP"P?r!
.ixsijrvffvvv -w7wbw', rv
vyynvf - 71
tfc
,t r
-1
1 ."
src -
24
EVENING PUBLIC LEDGER PHILADELPHIA, TUESDAY. DECEMBER ,26, 1922
E. H. Rollins & Sens
l'minilcd lKlfl
Investment Bends
H2J CAe.tnuf Sf., Philadelphia
I'liniif lrn-l 7.100
Bosten A'ttr Veefc ll'flfct e.inrrr
IlalHmere Chicago San Frtinciace
Tax Refund in Penntylvania
The Dayton Power
and Light Company
First & Refunding Mortgage
5 Bends, due 1941
Net .i" rpe f'.r tl ve.tr
end'd i rtf ! t "1 I1' J J
woi-e SI t"l -in or nmre
than ', time- th -i 'ire
tnertpige h -nil Interest
churgis of IDIC .
Price 934 and interest
Yielding about
5.60c
fiflO,'
r
Adirondack Power
and Light Cerp.
1st & Rcf. Si2 Bends
Due March 1, 1950
Territory served includes
Scheneuady. Trev, Am
sterdam. Glens Falls, Sara
toga Falls, Oneida. Water
vliet and Mechanicsville.
The General Electric Com
pany owns approximately
50 of the common stecli.
Price 985a and interest
Yielding about 5.75
Harris, Ferbes & Ge
Pine St., Cor. William
NEW YORK
PHILADELPHIA OFFICE
Widcner Bldg.
Telephone Spruce 7040
i .-
few
Wfl
h
KftD
S140.000
MARKETSTREET ELEVATED
PASSENGER RAILWAY
FIRST 4s
MAY 1, 1955
First closed wertgagc of
$10,000,000 en the elevated
and Kiibivaij lines en Market
St. from F.-ent St. te GOth St.
PRICE. 88 AND INTEREST,
TO NET 4.757e
REILLY, BROCK & CO.
SOS CHESTNUT ST.
PHILADELPHIA
finunujiiiEiiU
'.iLMiiinu.iiHiiiiira'iiiiriEt;
ESTABLISHED 1865
BIOREN & CO.
BANKERS S
imrhictnnlCI DKillnrlnlnUI. b
Government,
Municipal, Railroad
and Corporation
Securities
Mt'ih'r' Vim.' Yr,-!. in,
I'hilailf'jilnii .i'u'A. 1 jl h'M'J'
,w,jiraiiraiii'"iir'"'"i
"in "bWwEwnawji
"f I'
ifi.: '
Mi
WHOLESALERS
Bankers and investment
houses are invited te use
our service when desiring
te buy or sell any Govern
ment Leans.
"4 Natien. Wide Matktl"
COMMERCIAL
TRUST COMPANY
Member Ftdcul Rricrv, Svtteie
City Hall Square
jf
HiuH UKADE
SECURITIES
Yielding from
5 te 6
Mil GLENDINNING
KatahlUbrd iM
00 Chwtnut St
Hit
.
NEW HIGHS MADE
BY POOL ISSUES
200
600
600
700
4100
200
200
ZOO
300
200
100
1200
200
100
100
400
1100
1200
400
100
5200
4800
100
400
300
600
400
2300
100
100
200
1303
1000
300
200
700
100
300
1700
300
COO
400
900
100
S00
300
1000
200
200
16600
100
1200
300
600
500
Movement of General List Was
Mixed, but Trend Con
tinued Upward
New Yerlt, JW. 20 While fundi
tnuiN were semen lint mixed, the trend
"f tednj's ktm t( tunrkrt continued up.
ward. The movement, in fact, wm
conspicuously specialized, -i.-lileh was
due te tin' mere ngsreive position of
the '.pfrulntivp combinations, and
which. In turn, undoubtedly was in
tlueneed bj the animated rebound of
Friday's market. This resulted In the
"talilKlitiicnt "f new high record" for
tli ji'ar bv -it'll peel issues ns Studp
baker. Hti'w.irt-Wiirm'i- Speedometer,
Pend Cr'k I ,il Endicott .lnlilinii titui
linlilwui l.'.iiin.iiriM. A- te the genet nl
list, tl.i'M- wan abmit an iipml tlnisien
"f weak mm strong put
Developments iimt th" rriplr holiday
wi'iv without ; !nl significance, (mil
tlipri' v.us urti.illj nothing tn Imped" j
bi' program t tit- ceitstructU" force, i
tlrtt i". if th" bad unj in mind. Tin- '
larrv-mnr. liewit-r. from Frldn's
intiuii.itn' buiii-li ipinunstr:ittin was
Hi'tib i,'iit te k'tp tl.p market frothy
Tiring tl earlier part of the session.
A u maftrr "i f.nt, lrilllh mtivitii's
,,T" iviimi'i in n number of Issues,
i 'id tl.i"ii' wnri- s ii'tessful because of
tlip -.(..tit eifer.ngs.
Atti'r thi furlj brush tin1 mevpmi'nt
"f th" n.ain body of stork became
tiieri irregular, but th" spirited up-i.iai-king
of tin- selected l-tiies net only
a. fed as a bm-k b'Z. b.it ale oouit eouit oeuit
teihnlnmed thp weakness cropping out
it. scattered quarters One of tin- mere
Miitipetibli ib'plepnifnts ntt"ndlne the
foii'iiemi op. niti'iti- was that in tivity
."i "itiipanicil tin' riling trPtid, wliile
trudine pi'ri'pitibl -'ai-ki'iipd en the
ri-ai ti n An piiniuruguijc sin from a
tntdi-rs' vii'Wpeint.
It retinnui'il very I.ttcpIj an indus
tnil t''irki't in fact, a p""l mnrki't.
with gams rnngini; from l1.. te H'-j
!,in'- in this- i'pfti'd isii". Most
of thp r.ul-, wMi' inactnp, but I!"aillnc.
I.i-hiz'i V.ilb'.v, Seuthi'i-n I'li'dtip ntnl
Ciiradinti I'.n'itir pre advaii' pi 1 f
l'j point- Sr. I'atil sharp- nnl utne
"f thp ethpr lev-priii rnil-, ,m tC
In r baud, urn- bpav.
Tew.inl jieciii top prifp- weri" shndpd
i'. .-ill dins'tieti- when wpakni i!cvp1-"i"-d
in tin' shipping croup. Marine
t ri'i-rri'd lnt -'t'j iieint- and Atin'ricau
It.tprti.'itienul I'm.
200
6000
100
100
200
300
1500
1SG1
900
800
100
10D
300
100
100
100
300
100
100
ESiioe
300
200
10
101
Commodity Markets
GRAIN MARKET
I ChiraKf), I)e lit!. In the absence
of ;.ny en ,d"! pre lire te -ill, thf
I uhei.t mnrki't a erased hlsln r today
iiiri'U tin' e.irh di'ii'ines Hene of
PI ort bil-ine-- ti'in'ed -emewlmt te. i
ptusiiiriiKi' biilh-h si-ntitnent. and there
w.i- .il-e (eiisiderablp t.tres nit en
I rnlk about unfavrable ronilit!en nf
I f"' tin the dome-tie winter crop, (jn
the ether hand, holder- of December
lientrai't- .-bowed a di-po-itlen te H-
'iiiidate.
The epenins. whb'h tnnced from nsc
lower te i..p advauee. with Mav 51. -4
' ?1.,M'', and .!uh Sl.i:!1 te' SI. IK'....
, A.is fellow I'd by s'.luht pums for May
and .Inly and by sernethii. of a mik for
I iJeeember.
! Hip reiei)ts of corn her", about l."00
earlead-. had a ilejire lng intiiienci' en
1 pilcps of i-ern and oafs. After open
I in' at 'jr decliin' te 1si' advance,
I Ma 7-c, the rern nmrki-t whewed a.
' -liclit sential setback.
1 Oat. -tarti-d at ' c decline te c
sum. May -l.i-'i p te -l.i'sc. and Decern
hi r kept near the inlt.nl t'lL'tire-.
Irovi-ien were linn in line with
he;; alue-.
tun l're je Oin
IP M
TIS
71
71 ,
i .'.-mi
t Sl,
1 13H
13',
:,,
-t-'S
r.
Mm . .
lil-
W1. Ht
:i'i
Tl,
t '.'.'. 1i 1 i'.'-a
1 'J4 fi 1 L'-l
1 IS1. 1 13-2
Mm'
ti. "'". .
MllV . .
Juiv
n
I.ir.l--
M.n
lilJ.
n Ji'i
1.13S
J5!'
4 V.
IL'S
MS
te :t
10 3D
te ?:
lO.'JJ
COTTON MARKET
New Yerk, Dei . "f!. Jluyins orders
were in evidence after th" holidays and
lotten pru es at the epenin,' ted.i nd
vain'pil -4 t" It! pem's nur I'ndaj'.s
ell,. I.lM'rpoel, coinini-sien heusen,
Wall Street and New Orleans were
early bujirs. The s-elllns i aine from
.Ia'.ine-u iiitere-t", luniK and th"
.-j'ltli.
'I'h" market n.nt.'i iwj xery tirm nfter
tl.e opening, bellied by tin- ytrenttth of
the ste' k market and, at the end of
thi' first fiftien minutes, was about l'j
points net Liyher.
lMlaN Oeii Orin 1 I' J
lir'jnry '-" 0". fi J't.u) -.il ml :il .-.
Ui ft 'J'l'J5'i0 S't 41 2't mi
t , . . . -.''i '! 4e .1, ".'i :i r i
s:
4
I
"1 'ti 1 40
.' 171) It
J 3U
3'i ;n-,i
NEW YORK COFFEE MARKET
Ni-w Yerk Dec. 'jtl. Th- i-.ffe,. fn-
i tures Market had n dull "p. mic with
iiu trnii-'MietiH en the call and pnees
uncbaii'."'i t.i 1 point ln'ln r There
I l r" JIHXt l)lli;s of l off,',- iji-'lureil oil
i enti.li t teda .
Trii'iin-' Interest in futures luring
200
100
300
100
200
m 200
the forenoon wan entirnj tiPi-l, cttd,
tn-re liimiin' been i.e trarisin tietis nml
bid tini'es were prae'iMilly net un
lianited. Tb" inarki-r . ri.rt'ii4 te suf
ter from n l.n k of eut-ule interior and
little or t." rriidinir f" in this M.tiri-e , nn
be ex pi" ted whl'i 1 1 tl tu.itleiis ;" he
limit' d and tr; tis.v lien -mull.
I' m i ,,H., i tx.n
7t if 7'. t'7'.'n;n
li I'll It ti i n
f' e" It it's I fj-,
. . s fill ft il I I! 1 11 111
. . .'l8:i a .3 i Is
M .r- a
Mi,
lu
-.., I ! i
1 1 r (t!i'.'3'
lilt.
DIVIDENDS DECLARED
I i, n.t I'nriint. ment. II nn prefrri"l.
iindi).' Jn"iai 11 tj tleik i.f r. uiJ
' (,. ,..,,ir 30
1 J'vUht M ir.u'u' 'tjrirnr I'enrai.y httiI nn.
i . il l er i i-iil i-i,nuw Jariuur L tu Hti.c'K
f r- it tii-nrnbir 'JO
' t , i nweiil'ft I'ewur i eri r.iMi.n. iiur-
- y !'-i p-r ient nn irfrr'l. pnju)l
lilirunry 1 tj Ntet k of t,,r. .Junurj 10.
'. li t. itil nml rt"fin!nif I '.mpany quar.
irli 'ei veiiis piwubii January I'D te h'.ecK
t ti,r"r'l iJfi einl.r 31
In . ninUiii?l Te.'pliene iind Ti-l,'Krph
! i' input y iurtrl l'j i-r r.n' l;n,ilili
, Januuri 1 te twK "t ri'inr'l ih, ttnttr II.
1 1 i llnitf.ii Tliwutre, ijiuirtiT'v of 11.
' cr 'flit nn P'ef i r, I HaM,' Jnnu.irv 2
ti .te, k of re' .r-1 I),', pinvr 1.'.1 ami tiuur-
-I 1 I'T cnt ,.ii .n.'n. n ih.iI!h Kcb-
I r i", ,. h'ix'. of re, r.rtl FVhruit 1
i iik1i i Itiiilwny n. 1'i.wHr Company,
u j., r ttnt nn prefirreil. pt)ahle 3 pir
i-ni en Januttiy '.0 anil 3 tr emit en
lull -0. betti tw stuck uf rtseril Decem-
i. i II
,l I rnrnWcKl i niiipimy. uuarterly it
. . i . minion 1'aJi ' 'J IVIinmry 1 te Hec uf
,il i.Jnuuiy 15
MONEY-LENDING RATES
M'AV HIKK Meney un cull, Uith clauie,
of i-c Half i al nreiint tittty ut Hj wr cent
for IihIIik nn'l rmewtne.
rilll..IIKIJ,HI. Cull n t.er eenf tlms
ti pur cent eeininerclul paptr, three te lx
month,, i per cent
BANK CLEARINGS
IUnlc ctenrlnvn today cembared with rorre rerre rorre
.pending duy2.,,.t two ,.,. ime
Phiia i79.niio,(iert ei.oiie in fin,T"n.7tm
& CO.
lleitnn . BO.OOn.oeo nn.ena -an n,nini,Tnn
N. V, ..460.000,000 079,70ft M,TW,4)5T.
e ,l,Jw i-i k-L . . aJI-r -. J.-..,..
NEW YORK STOCK EXCHANGE TRANSACTIONS
Only Afternoon Repert in Philadelphia Quoting Full Lilt
Illv.
"a1 in t
1:30 Net
P. M. Cli.
67V4 1
13H H
12
Vi ..
1V4
76Vi- 2
44 H 4- H
32
59J4 4- Vi
8TOCK Jtlch
Ixtw
67 Ki
13V
12
V
Hi
76 VS
44 X
32
59 V
38 ti
40 Vi
70
73 Vi
183
35h
135H.
63 U
107
26
lllj
31V4
126VJ
51 Vi
116
6
19Vi
56 Vi
37 Vi
76
28
59
56
122
154?4
103
1 52 Vi
95 (i
271
15!.
50
65V4
102
91 i;
1H
111 'i
134
22
16
15
32H
135
114
42
58 '4
28 'i
19
51
58
94 J4
59 J.
4?.
27 Vi
113K
15',
60
145
42
9'i
32
18
7!i
02
67i
93 Vi
9Vi
144 t,
29 Vi
76
32 14
78
229
44 3;
63
71
102Vi
2 V.
3 '"4
28 b
44
8Vi
21
33 Vi
72',
79 '
115
31 H
27 t,
26 V.
66
76 '
25
42
105
2V
43 Vi
29 H
I19Vi
59 Vi
H,
11 Vi
1 1 1 '4
107
ll'i
130
121
5 Hi
704
25J,
101
13?.
39 Vi
32
23 r.
113
129'i
43 ;
4H
153
85
10
85
55H
20
7
89;
117
10'i
UI4
11U
26 Vi
91
51
207 Ji
97
12Vi
201',
68
82
48 H
103Vi
183
II
13',
83
83J
97
10
41 'J
98
4 Adams I'xpress ... 67 Vi
. Advance Qumelv .. 1 3 ja
. AJax Itubber 12
. Alaska Geld Mines. 14
. Alnskn Juneau O 51 1 Vi
4 Allied Chem & Dye 70 &
4 Alll'-i'hatnbprH .... 44 H
. Am AkHc Chern... 32
. Am Auric Chem pf. 59 !
. Am licet SUKar. ... 39
. Am Uesrh Mncnete. 41
4 Am H Sh Fily new. 70
6 Am fan 74
2 Am car & FMy 184
. Am C'ntten Oil pf. . 35 VJ
8 Am Kx press 135Vi
. Am Hide & Lcath pf 64
; Am Ir 1 08 y2
. Am Internat Cerp.. 27H
1 Am I.a Krancu lJns 11,S
39
41 J-
70
73Vi-f
164
35Vi
13514 63H
108 -
26 Vi-
11K
31 Vi
126 Vi
53 Va
116 -
6i
19Vi-
Am l.initpil 31 Vt
Am Teomettvo ...127V4
Am Metal 53 V
4 Am Iladtater 116U
L Am Snfetv Itarer, . 6fi
. Am .Ship & 'em. . . 19U
. Am Smelt 56 H
J Am Steel Foundries) 37 Y
. Am Sutrar Hcf . . 77 H
. Am Sumatra . 28
. Am Sumatra Teb pt 59
? Am Tel & Cabic . 56
3 Am Tel & Th!. .123",
2 Am Tobacco . 1 56 '4
0 Am Tobacco Pf tew 103
2 Am Tobacco B. .153 '4
7 Am Woolen ... .95
. Am Writ Pnix-r pf 27'
Am Xirc I,d & Smelt 16
. Anaconda Copper . . 50 j
4 Ahe I iry Geed". . . 65'$
i Atci Tep & San FC.102H
r, Atuh Tep & S F pf 91 ',
Atlan Uir & Atlantic 1 H
T AtlantV i"east LIiipIII'a
. A, antic Fruit .... 1 'a
At! Gulf & W I S S 22 2
. At G it W I S y pf 16
. Atlm Tack Cerp... 1 5 V
. Au.itln Nichols 32Va
T Haldwln Locomotive 1364
56 V r
374 -1-77Vi
28 -59
56
122H
156Vi
103 4-
I 53 li -f
95 Va
27 "4
li -:-651i-i-
102 -91
li
1H4-
II Hi -'?-
22 -
16
15Vi
32 H f
135',
114
42 -
58 li 4
28 'i
19 f
51
59 li 4
95 -
60 h
41
271,4-
1134
16 -4
60 -
146
43
&H4-
32 4
18
7i-i-82
67i
93 Vi
9 V
144!.
29", -76
-
33 -f
B78
229
44 i -64Mt
Hi
, nalilwm l'ce pf..,114
Halttmere & Ohie.
4 Haiti & Ohie pf ..
Barnsilall f'la A
42H
584
30
19
51
Harn-dall Clasi H.
500; 4e Hmrhnut Packing
560D
Heth ehem Steel
59JJ
95
60
1
. Beth Stl ' pf new
e Heth bteel B . .
. . Beeth Fisheries
41.
. . Hrlt Km Steel 2d pf 271,
5 Brooklyn KdiMjn . .1134
. . Bklyn Hapld Transit 16
Brown Shee . 61 3
le Bums Bres A. .146'i
I Burns Bres B. ... 43
. Butte Cep & Zinc. . 97.
I Butte & Sup Cep. .. 32
. . Butterlck fe .... 10
. . r.iild" 'en O & 11 . 7 4
fi California Packing B2
. California Petrel .. 67I4
7 Calif' rni.i Pet pf . . 93 2
. cai zin, ,,ni Lead. 9'i
1') cnnnilian Pacific .144J,
. Cap.. J I Threshing: 29 '
7 fa.se .! 1 1st pf. . 75
. . ' mtral Leather . . 33
. fen leather pf . . . . 78
5 Central of .V J. . .229
. . ferro-de-Pasce . . 44 ?i
6 Chandler Moter 64
4 Chesapeake & Ohie. 71 2
3200
300
100 0!
200 .
200 .
200 .
'20
1000 .
200 .
100 .
100
500
100
700 .
?00 .
300 .
100 .
100
900 .
300
100
200 .
300
200 .
700
1900 .
4500 .
600 .
100 .
200
1500 .
1
71 Vi r Vi
102Vi4- !i
2Vi ..
3Vi .
28Vi 21i
z Chesapeake & Oh pf102',i
. Chicago & Alten .. 2'.
chlcate & Alten pf. 3'-i
. 'hl & i: 111 28 'j
. Chlcace & Or West 4 34
. Chi fc Or West pf.. 8?,
. Chi Mil & St P .... 21
. Chi M & St P pf. .. 33 V,
5 ( hi St P M & O . 72 V,
6 Chi & Northwestern 79Vi
7 Chi d Northwest pf115
. Chi H I & Pac 32
. chip. Copper .. .. 27 T,
. Chlne Copper .. .. 27 V,
. Cluett-peabeily ... 66
6 Coca-Cela 76
Cel Fuel A. Iren.. . 26
3 Cel & Southern. . . 42
C I'elura Oas & r::ee .105
. Celum Oraphopheno 2!i
4 Cem Selent A. . . 43iS
. Cens-ol Cltrar 29 h
5 Consolidated Oas ..11 9'i
. Cen ('.as of N Y w I 59 ?i
. Cen Oas rt" Hi
. Consel Textiles ... 1 1 '-i
Continental Can .111 'i
7 Continental fan pf107
44 4-
8Vi4-
21 -
33Vi-
72 Vi
79Vi4
115
f Vz
3c -r
27 r.-
26 V.
66 -76V4-25VJ4-42
4-
105
2Vi
4-
119H -'-59Vi-
H.
ll'i
1 1 1 '4
107 -11
t
130 -
121
52
70 i -i-25J',4-
101 -14
39Vi
32 -23V4
4-
113
130 -
Continental Meters 1 1 4
100
100
400
400
100
100
400
300
2C0
200
200
400
500
500
100
100
100
200
300
400
100
5600
300
200
300
100
400
200
200
1500
200
100
100
900
300
800
100
100
0 c rn Pred Kef . . . .
7 Cern I'red Kef pf
130
121
, 52
Cestlin & Ce. . .
Crucible S'eel .
Cubnn Am Sugar
Cuban Am Suuar
.. 71
25',
I.f 1 01
1
Cnh.-i Cane Sugar . 14
.. Cuba Cane Sugar pf 39 ai
.. 1-avlsijn Chemical . 32
. . DelM-crs C Mln Ltd 23 ',
0 Delaware & Hudsen! 13
6 D( 1 Lack & West ... 1 30
1 Deme Mints 44 1;
. . Du uth Se S & A pt 4J
5 Du Pent (H. I). Cel 53
C Pu I'ent f,c deb pf 85
2 Durham Hosiery . . 10
6 L'astm.in Kodak ... 85 H
4 L'l-c Storage Bnt.. 55 '2
.. I'.lk Hern Ceal 2! 'i
. . lmersen-Branllns 7
1 llr.dl'.tt-Johnsen . . 91 4
7 Kn'Hcett -Jehnsen pfl17
.. r,rl 10'i
. . i:ri Ist pf '4i
. . DrV id pf 11 '4
2 Exchange Buffet . . 27
& Famous Players L. 91 H
r, r-d Mill & Smelt pf 51
10 Fiher Bedy 214
i Fisher Bedy of O pf 97 '2
1
44' t;
4H ..
153
85
10 -12
85H-f H
55Vi-f Ji
2Hi- 'i
7
90i 4- 1 4
117 - -,
10'i - ',
14 Vi .- 'i
11 "4 ..
27
91 -51
-
207 ti -97
-12'i
-i-20'
.
68
82', -
49'j ;
1 03 'i -
183 -
11
I3J4 4
83 -ei
1,
97 t
10
411', 4
98 5
34 -83'i
-26
:
13 -78
H
31 li 4.
80 li .
85
Flsk Kubber 14V4
. Freeport Texas . . 20 V.
3 Oin Am Tank. . . . G8
ti rjprierul C or . . .. 82 '4
. Oener.il Asphalt .. 49Vi
7 1 l.n Cigar deb pf 103Vi
H Ci.n Klectrlg 103
200 C'Jc ienl Dlee specUil pf 11 y.
8700 ' 'ienernl Meters . .Ufa
f, Ocneftal Meters pr
S 'l"ii Meters deb C
7 Oen Meters deb 7
. 1 Hidden Ce
Olmbel Bres
7 Oimbe'. Bres vS-
. Oelilwyn Pictures
Ooed'rlch B F.. .
7 oeodrlch B F nf.
. 83
. 83H
1 97
. 10
. 41 S
. 98 ',
2000 ..
800 .
200 7
600 ..
100 ..
4000 3
400 3
700 .
100 7
700 ..
900 ..
700 2
100 .
200 7
100 C
100 ..
. 5Vi 5
.I34HH 34
83; 83;
. Oranby Mining .... 26 '4
. Cray & Davis 13
3 Ureal Northern pf . . 78 J,
3 Urt North Ore ctfs 31
c.ulf States Steel. . . 81
7 Harttnan Cerp . . . 85
,. Htl.dee Mfg 20
. Housten OH 71 7i
2 Hudsen Moter Car. 25 i
, IDdraulIc Steel .... 5Vi
7 Illinois Central ....113'i
C II Cent pf A 114K
. Indlahemu Hef .... 14
26
13
78 i
31
BO
80
19 14
J0H
251i
Hi
113
1144
14
36 i
Vi
!i
IhU
30
341i
25
23 Vi
90 i
8H
43 V,
13Vi
65
5214
73 H
14M
46 H
20 4-
7li 4-
25H
5!i
113
1144 4-
14 -36
Vi -r
14
li
16 4 -30
4.
4
23Vi 90K
9 -44
Vi --13Vi-65
f
1200 ..
500 ..
700 ..
500
100 ..
100 2.a
800 2
100 ..
I 200 0
Inspiration Cen Cep Jb4
Inter Cen Cerp. ... '4
Inter con Cerp pf.
Inter Agriculture. .
Inter Agrlc pf
Internat Cement .
Inter Coin Kng. . .
Int tireat North. ..
Int Han ester new-
4
I6'i
30
34 V4
25i
23 '4
90 H
3900
6100
2300
100
300
300
2700
200
2500
Inter Mer Marine . .
J
3 Inter Mer Marine pf 46
,. Intel Nickel 1 3 1
6 Inter Nickel pf 65
. International Paper 52 4
6 Inter Paper pf slpd 74,
, . Invincible OH Cerp. 15'i
,, Iren products 46 V,
,. Islund Oil ',
52M
74 Vi 4
154-
46 M r
H
Consolidated Queries Nen-Members Cut Price
New Yerk. I)ee -' Th Cot .. 'Ute4
Htnck J-xcrmnire ! nendlns out ammtlen.
nalrea teduy te all non-member firms wa
nave wire connection, or the tlekfr wrv
Ice at the (ji.hnni (or the purwiu of
upervl,lnK mere rliuely all brekra.e (lrni,
ilelnr 'jumneaa through the Coii4elldatei,
V. H. Hllkwerth, pieiMent. UU- any
arm falling te nrmwer the riuostlennalre
r.tiifacterlly will .have 11. ticker r.me1.
or It. wtre connection, dltcentlnuiit tin.
mediately Twenty que.tlen. are Includld
tiearlnir en the atatu. of the firms. thAr
Lanklnv rrferrnci and the nature of bust
ktiit conducted by them,
New lurk, Dec 20 Warner Huiar He
ftnlnir Cmnpany unit I he National huvar Ite
flnln Company have reduced refined u-ar
lu felnta te 7 cent, Arbuckle llrettiers an
nuunce a reduction of 10 point. In their
price en refined te 7 cent., lea. - per tent
for cash.
English Exchanges Closed Today
Ionden, Dec. 20, The Sleck Exchanye re
mained cleaed today, Uaxlnv Day,
Uvtrpoel, Dec. 20. The cotton and (train
exchanges were net In .e.alen today. ,
.
ntv.
Sale. In I
STOCK Hlirh
Lew
201,
53
100
19V4
54W
102
44 Vi
110
36 H
9
1794
69 Vi
59 Ji
1914
165
115Ji
56
69 Vi
61
1 1 Hi
32Vi
37
48
50
39 Ji
454
28
451,
15
68
67 Ji
17?
108
17
16
27 Vi
11H
264
CVi
15
16 li
43 V.
224
184
11
11K
36 Ji
1
66 H
127 Vi
2Ji
26 Vi
48
94 Ji
94
21
19J,
97
75;
26 li
6'i
1;
17 Vi
153!i
8
36',
lOV-i
87;
46
93 Vi
87
4.
46',
24
92
36',
68
40
42
44 Vi
4'e
354
52 Vi
59H
9H'4
86
112
82 Vi
42 Ji
45
92
106
131 'i
46 Vi
27 '4
14 V,
804
54
54
22
45
83 Vi
47 Ji
116;
53
28
22
29
56 Vi
IV,
5Vi
9
88 H
74
12Vi
90 V,
31 Ji
99
9;
42;
89 Vi
25
65 Vi
20 Ji
117 Vi
39 V.
1164
84 Jj
62
Hi
70
67!-i
138
6
414
Hi
10V4
47'4
20 Vi
I251i
324
56
82
53
13
18Ji
137
75 V,
109 Vi
34
4714
11
73
26;
68 Ji
7
4i
20
67 Vi
98
85 Ji
52
964
37
106Vi
107
120H
53
644
154
31 K
24 H
64 V,
14V4
24
12V4
92
11V4
1314
53
H2V4
112
60
9
16
27
48 J
3
11
e
42V4
36
700
Jew-el Tea 20 ti
:iuu Jenes Bres Tea.... 54
100 7 Jenes & Leugh pf wl108
400 .. Kan City A Seuth.. 194
100 4 Kan City & Se pf.. 54 Ji
100 8 KaHer & Ce new ptIOZ
600 .. Kelly-Springfield ... 444
400 C Kelsey Wheel 112
1400 3 Kennecett Copper .. 36H
H00 .. Keystone T & II.... 9yi
100 7 Krcsge H 8 179
4600 3H Lehigh Valley 70 Vi
400 4 Lima Locomotive .. 59Ji
500 .. Loews I no 19
100 12 Lerllard (Pierre) .165
100 7 Lerlllnrd (Pierre) pf115J4
600 . . Mack Truck 57
100 4 Mackny Ce pf .... 69 Vi
100 .. Macy & Ce 62
100 7 Macy & Ce pf 1 1 Hi
100 .. Magma Copper .... 32VS
900 .. Malllnsen Ce 37 i
103 .. Manatl Sugar 48
100 4 Manhat Fleet Supp. 50
100 .. Manhat Kiev ctfs... 39 JV
100 3 Manhat Shirt 45
2100 4. Marland Oil ..284
1100 .. Mnx Meters Class A 47 Vi
1300 . Max Meters Cass B 15V4
2700 10 May Dept Stores .. 68 Ji
34 . . de odd lets 67Ji
100 1 Mclntyre Mining . 17
100 s Mcx Petroleum pf..108
1300 2 Mcx Seaboard ... . 17 J'.
300 2 Mex Seaboard Oil ct 16 "4
00 2 Miami copper . ... 27 Vi
1100 120 Mlllllle Statnn f'nrn 1114
i
31i
a:
.. .uuvHie sicei .... &i t
Mln & St Leuis. .. 6Vi
. Me Kan & Tex tw!) 15
. . Ml.'feurl Pacific .. 16.
. Missouri Pacific pf. 44
. Montgomery Ward. 22 i
1 Moen Moter Car.. 18i
; Mether Lede Mining 11!.
. National Acme 11.
3 Nat Biscuit wl 36 i
Nat Cen A Cable... 1 '
0 Nat Fn & Stamp... 67 Vi
8 National Lead 127'j
. Nat H U of M 2d pf 2T,
. N Y Air Brake .... 26 Is
N Y Air Brake A.... 48
fi N Y Central 95 4
r N Y t & St L 1st pf 94
. New Yerk N H & H 21 i
2 New Yerk Ont & W 20 U
7 Norfolk A Western! 12
0 North American ... 97
5 North Pacific 76 '-i
. Neva Scotia S & C. 26 V4
. . Ohie Bedy & Blewer 6?
. Okla Pred & rtef . . . 11,
. . Orpheum Circuit .. 17'.
S Otla Klevater 157 'i
. . Otis Steel 8H
2 Owens Bet Mach... 36 li
. Packard Moter .... 10(j
. . Pacific De vel Cerp. ,
Par as A Elec... 88 i
3 Pacific OH 47 Vi
! Pan Amer Petrel . . 95
8 Pan Amer B 88
. . Panhandle 51i
3 Pennsylvania H P-. . 46Vi
. Penn Seaboard Steel 3Vi
fi Peeples Gas Chicago. 92
. . Per Marquette ... 36 Vi
5 I'ere Mnrt) pf 68Vi
3 Philadelphia Ce ... 401',
3 Phlla Ce CJ pf 42
2 Phillips Pet 45Vi
. . Plerca Oil 4i
. . Pierce Oil pf 37
4 Plggly Wlggly Stere 54 j
li
?ti
1500
200
800
1700
100
100
1700
100
700
400
900
200
200
200
300
11400
100
3700
1000
200
1000
3300
100
100
4100
1400
700
700
400
5200
700
400
10100
10500
12400
1000
4300
2900
100
100
300
300
100
7100
1700
1700
6400
2600
li
127VJ4-
2J4-
26Vi4-
43 -
95V4 4
94 -
21 M 4-
20 -
112 4-
97 4-
76'4-
26 Vi
6Ji4
14
17V4
1 53 Vi -8H-36Ji
10i
4-88Vi-47
4.
94', 4
87', 5Vi
46',
24
92 -36Vi-68
-40
-42
45Vi
4Vi
36 -53Ji
61 4-
91 Vi
88 112 -83Vi
45 h
45
92 -106
132H4-
46Vi-
27 V, 4
14 V,
81
54
54
22 -45W4-83
V,
47H-
!-i '
H '
Si '
X
Hi
1
' Ji
li
! !
Pitts Ceal 61 Vi
Pitts Steel pf 91 i
200 7
24800 1U
100 5
800 ..
25000 . .
Pend Creek Ceal... 88 Vi
Pestum Cereal .... 1 1 2
Pressed Steel Car. . 84
Producers & Ttef... 45
'4
',
Vt
H
200 3j Producers & Uef pf 45
700 g Pub Ser of N J... 93Vi
400 8 Pub Ser of N J pf.106
1700 8 Pullman Ce 13214
300 , Punta Allegre Sugar 47 Vi
900 2 Pure Oil 27 li
200 . Kay Cen Copper... 14',
4500 4 Kendlng 81 Vi
100 2 Beading 1st pf 54
100 2 Heading 2d pf 54
5200 . . Keplogle Steel 23
700 .. Renub Iren & Steel. 45 i
IOO . . Republic I & S pf
2400 3 Reynolds Teb B...
Vi
h
li
li
, 48 Vi
.116i
. 53 li
100 7 Reynolds Teb nf
1000 4 13 Royal Dutch N Y
200
200
Rutland nf
28
22
29
56 Vi
Hi
5Vi
9
88 Ji
74
13',
92 li
32 Vi
99 W
. . St Leuis San Fran.
. . St Leuis Southwest
C St L Southwest pf . .
. . Saxen Moter
. . Seaboard Air Line. .
.. Seal) Air Line pf...
. . Sears-Roebuck
. . Seneca Copper . . . ,
. . Shell Union Oil
fi Shell Fnien OH pf.,
2 Sinclair Consel . . ,
8 Sinclair Cen pf. . .
. . Skelly Oil
100
100
500
100
400
800
200
10500
1000
4300
700
500
00
4500
3100
700
eoe
4600
10800
200
800
200
200
1900
1700
34100
1100
800
1200
500
7100
1200
200
400
7100
600
100
7700
4100
1400
100
200
200
100
100
2300
100
200
100
700
200
20200
300
300
500
100
700
17500
100
300
100
2400
200
5200
500
300
6300
200
200
200
500
700
400
200
300
1000
100
900
1400
300
1100
600
600
500
300
9?4
Se Perte Rice Sugar 43
C Southern Pacific . 90 '4
. Southern Rail 25 H
5 Southern Rail pf ... 66
.. Splcer Mfg 21
4 Standard Oil of Call 20
5 Standard OH of N J 40 'i
7 Stand Oil of N J pf!17j
7 Steel Tube pf 86
4 Sterling Products . . 62
.. Sterling Pred rts.. 1 Ji
4 Stewart Warner Spd 72
r. Strernberg Carb . .69;
1 ij Studebaker ... . 140',
. Sub Beat Cerp. ... 7
. . Miperler Oil .... 4,
. . Sweets Ce of Amer 1 ',
. . Tnn Cep & Chem 101,
3 Texas Ce 47 H
1 Tex & Pac C & O.. 21
.. Tidewater OH 1271
3 Tlmken Rell Br.... 33
. . Tobacco Products . 57 Vi
7 Tobacco Pred A ... 83 ',
. . Tel S L A W pf . . . 53
.. Transcontinental Oil 14i
.. Fnien OH 19.
10 Fnien Pacific . .137M
4 I'nlen Pacific pf . 75 Vi
7 Fnien Tank Car pf 1 09 la
2 United Alley Steel.. 31',
3Vi I'nltcd Drug 1st pf 47 li
. Fnlted Rwy InveBt 1 1
2 Fnlted Retail Stores 74;
. . F S C I P A Fdy . 26;
6 F S C I P A Fdy pf 69
.. i; S Kxpress 7
.. F S Feed Products 4 ',
. . F S Heffman Mach 20
.. I" S Ind Alcohol... . 69 'i
7 F S Ind Alcohol pf 98 "4
fi F S Realty A Imp . 85',
. . I'S Rubber 53
8 U S Rubber Ht pf 96 V;
. C H Smelt & Ref. 37
6 V H Steel I0;v,
de Cash Sains. ... 107
7 I' S Steel pf 1 20 Ji
3 F S Tobacco 53
2 Ftah Cepjicr 65 tj
. . Ftah Securities ... 15'i
.. Vanadium Cerp ... 33 '4
.. V.i-Car Chemical .. ?51i
.. Va-Cur Chem pf... 6414
.. Vlvaudeu Jnc 15;
. Wabash pf X 24 H
1 Weber A Hellbrener 121i
5 Wells Farge Fxp.. 92
. . Western Maryland 1 1 Vi
.. Western Pacltlc . . !5'4
6 Western Paclltc pf. 53 J,
7 W stern Union Tel. 11 24$
7 Westlnghouse A B.1I2',
4 Westing B&M. . . 60 1;
.. Wheeling ALL'.... 9
.. Wheeling A L B pf 17
2 White Eagle OH 2715
4 White Moter 48 V,
.. White OH Cerp 314
, . Wlckwire Spenc Stl 1 1 H
.. Willys Ovcrund . . 6Ji
.. Willys Overland pf. 42;
.. Wilsen A Ce 36
Vi
Hi
8
H
Vi
Vi
H
Hi
Vz
li
!i
Hi
li
H-i '
Hi
Hi
Vi
1
V2
Vi
1
24
Vi
H
I
1,
H
i
Kx-dlvlilends.
of Refined Sugar
Paris Bourse Quiet
Pnrli, Dy li! Trading wa.
jKiutBi- umuy tnree ir cent
-.'"c Kxchaniie un Imden, fl'-'f
per cent lean 7Hf 8uc. The
quoted at 13( .'L'iic.
DRY WKATIIKK HAD l'OR ni'HINKHS
The umbrella hualr.e.. ha. .uft.red hecauae
of the long continued dry .pell of late fall
and early, winter. Condition ar reported
a. Irnprevlnc. An array 'M, Item, covering
local uu.iiir. cnnaitien. iwn n
fealire or trie limine., Kdptien
in In. thy Pi'iiue Lides
llablt.
i." j
-4ttv.
fei.'Jfc'ii
t.. i.ir,iiw
MIXED MOVEMENT
IN LOCAL STOCKS
1:80 Net
. r. M. Chr.
20K- Vi
53 4- H
108 -
19V4 4-54Vi4-
102 -44
'4 4-
110 -
36H4-
9Vi-r
1794-
70
59 4-
19J4
165 -1
1 5 T4
57 4-
69 V4
61
1 1 Hi -
32Ji
37 -
48
50
39Ji-
454
28H4-
4714
15J4
634 4-
67 Ji
17H-
103 -174
4
16 -2714
4
11Vi 264-
6V4 .
15 4
16V4 4
43 Vi -22;
.
18; .
1 Hi 4-11K-36
Ji-
Vi
Vi
Vi
I
V
I
Vi
Vi
K
Vi
Vi
2
Investment Buying Noted in
Pennsy and Other Divi
dend Payers
Trailing in the local market rentlnuwl
under tln restraint of holiday in
flupnpiH. TIip bulk of the operations
wctp of small dimensions with Irrcsular
price changes, yet the untlcrtnne nf the
general list was quite firm. There still
seems te be n general disposition te
nwait twine new stimulus before assum
ing ti fresh active position and all indi
cations point te n quiet market during
the balance of the current year thi
week.
Further selling for establishing losses
was observed in Lake Superior Corpora
tion. The most of the efferincs found
takers tit .", equal te the ear's low
price. Lnke Superior is one of the
H
1
Vi
H4
Vi
fpv lecif! steekn that has net bettered
the market position during the last
year.
Pennsylvania ltnllrend was much
stronger moving un te Hi', tinder the '
1
Vi
same influences lifting the coal -carry- 1
ing rends. There wns also evidence '
of en Investment buying which gen
erally appears nt this time nntlclppat
lng the Jnnunry I dividend and inter
est disbursements. Similar buying was
noted in I'nlen Traction which contin
ued te brins; 40. Several largp lets
were taken nt that notation. It was
also seen in the ," point advnnre in
Thirteenth and Fifteenth Streets Pas
1 -67
-s-
1
senger Railway.
Utlier strong spots tere found in
Philadelphia Insulated Wire and U.
(5. I. The first named making n new
high ground nt 52 and thorp was fairly
a4
4
',
'4
Vi
Ji
"fi
' ' '4
IVi
Ji
" Ji
Vi
Hi
Ji
V4
1
Ji
94
IVi
V4
Hi
geed buying of t (;. 1. at the same
ligurcb. This brought that stock back
te the price made when the iltvidejid
rate was increased te tl per cent., in
ditsttlng a completeu of the speculative
prelit-tuking.
Continued firmness marked the move
ment of the Philadelphia Electric
issues. Elsewhere price changes were
mixed. American (!iis fell back l:)i
en small odd let efferinss te 78 a.
American Stere after making a frac
tional higher opening nt 1"0, yielded
te l.".". Cramps was up a ,sj from the
previous sale. Penn Central Dight
warrants were offered at a V.
1 Philadelphia Stocks
1:15
711
1.-).)
Net
chile.
t
i
High
H.i Am C5n. . 7n
14."i Am Strs. .!."(!
Ljw
I."
LM) Erie Sh C,
: El pf. 'M
lOOfOen Mtrs l.'VTs
"IS
l.Vs
-".
4- V
If,
Vi
1V,
2Ji
Hi
14
3f4
Hi
IV.
2
1
leS-r
J3H
7.'lil Lake Sup. .ri's
KKIt.Me Pac pf -l.'5'ii 4.'5i,
liOH Penn Cent
T .- 1 1
i.gt war (
821 Peima H H 40r's
ltUPhiln Ce
cum pf.. 41s
lr.S Phiia Elec :ili
r.:i de pref.. 111
1U -lOOs-4- vJ.
41-";s
.!10s
41'A ;
.'ID,..
:u".,4- J,s
52 1
(15 U.
SI 1
10-
195 5
1..
l.i'.t Fhll in W .-' .1-'
31 Phiia Trnc (!.")'; (15
25tKending. . M SI
SOHtTenn Cep 10" 10
lft
'4
li
i
10 l.'lth&irith
Pass It. 105
105
7rTone Pel. I",
JlOTone Mil). U
1400 I'menTrae 40
05 F U I 5'
J45 de pref . . fill
10 W Cramp
fc Sen1-.. 00', a
10
51''
50
40
52
50
Hi
fi
4
50 i 50 Vi -r Ji
116?;- Vi
53Ji ..
28-3
22
29 - Ji
56Vi ;
1 v, . .
5Vi ..
9
88Ji H
7- "4
13' Ji
92Vi4- 18
tNet rhange made by comparison with lait
sale en New Turk Hteck Ilxchnngc.
ruiuui:u'iii. iiend.s
1400(1 Liberty 2d 4 ,h
1(H)0 Amer Gas & Electric 5s.
1000 Hell Telephone 7s
2001) Cens True New Jer 5s. .
4000 Electric ii People's -Is..
1000 Phiia Ce cons 5s
1000 Phlla Electric 1st 4s... .
4000 Phiia Electric 1st ."... lets
."000 Phiia Electric 5'... -..lets
20000 Seabea id AilJ 5s "JO....
OS. 42
Ml"s
ids',..
SI
(W'G
P2
Sl"i
!i'.i;
102
2a
32
99 -94-
1
GAIN IN MEAT EXPORTS
November Shipments Totaled $11,
204,731, Against 56,949,772
Washington, Dec. 2(1. Experts of
the principal feed products for No
vember showed, with few exceptions,
marked Increases ever tetaN for Ne-
ember, 1021. according te an unalj.-ls
made public today by the Department
of Commerce.
Total outgoing shlpinPtits of meats
Inst month were wilticd at $ll,204,7.".l,
ncnin-t SO. 010. 772 for November. 11121 .
432
8954 4- li
25 ' a
65 J4- Ji
21
11914 21.
394 4- i
117H
86
62
1ft
72
69
139H4
64-
4H4
H4
;
Hi
3
3
24
ft il)niry ptediut.s were among thesp kin .
ing (ps'rejses, cempareu Willi .Mjvi'iniier ,
of lust M'ar. last intuitu s Mitpiuents
being mlued at ."?1,715,140. cuinp.ired
10V,- i,;
47i 'j
20J4- H
I27J4 2V,
33
57V4 4-'i
83 V4- V4
53 - 1
14 !- 1
19fi H
137M4- i
7514- i
109Vi ..
34 - 1.
with ff2,i2;i,,1.12 for rsevember a eur,
nge. ,
Animul oils ami fats en the ether
hand tdinwcd a snbslaiitial increase, the
figures being .SO.SOOXM). against .V".- '
704.0i:i for November, 1021. Crnln.
and preiiiirntieii-, et grain ainountin; aineuntin; ainountin;
te S,'lyi.270.2vj wire exported, while a
j ear age this group of commodities
amounted te ,:Vl,ilMt.722. I
Canned egetables amounting te
5.1M.214 were exported, while a year
age the exiMirt-, were pructicnlly ."5100,.
000 less. Canned fruit valued at 2,
S75.S5S was sold abroad last month,
while in November. 1021, the experts
amounted te !?1,M 1,005.
FOREIGN EXCHANGE
New Yerk, Dec. 2(1 The market for !
foreign exchange at the opening today
was, for obvious reasons, a perfiincieiy
47Vi
11 -744
264
69 4.
7 4-4J4-
20 4.
68 V4
98
85J4
53
964
37
1084
107
120H
53 -65
Vi f
15J4
1
1
!i
ft
ft
Hi
" H
"ft
V
ft
H
3
Hi
Vi
?a
one, anil quotations were 'hketch,
there being no "bids or asked" for r-cv
eral of the exchanges, Sterling was
nominally up "i. Swiss and Spanish
gained 4 and guilders s ami Norway 11,
On the ether hand, francs were down
.TVJ, llelgiiuis down IK.., lire down is,
Danish and Swedish unchiinged from
last Friday, and marks were down
2 points. Comparison is made with Fri
day, as that was n full dnv's business,
Sterling rabies were 4.05, demand
4.05; franc cnbles 7.11, checks 7.40', ;
Helgian cables 0.S1. cheeks O.SOVi : lire
cables ,r.,12Vj, cbei l;s 5,12; Swiss en
hies 18.0S, checks IN.Iiri; peseta cables
15.77, cheeks 15.75; Danish tables
20.7S, checks 20.7H ; Norway tables
10.10, clucks 10.05; Swedish cables
20.05, checks 20.00; guilder cables
au.h". checks :w.h2; mnrks .0150.
The Central European exchanges
were Irregular today, tjuotatieiih: Itnl. J
gurlan, .75; Kuiiiuiilnii, .00; Serbian,
l.l.'l; tlreek, 1.2H; Ceeho.SleMikinn,
S.20; .riige-Slavinn, .2Sl,4 ! Polish.
.(HI00; Finnish. 2 55; Austrian. .0015
Hungnrien, .OOOlVj.
KltlDAY'fl fl.OHINO qUOTATI()NH
SterllnK Krenca I-Ire tlui'.j.ri
Demand -t.Ul', 7. til D.IU, :ei ;,
Cable. . . HIH, 7 14 fl.l'-' Iiu 7h
TODAY'il UPKNINtl tllTOTATIONs
fiterllnit Franca I.lrn tluihlc,.
Demand .... 4.ntl 7 40it a 12 .'li'Jii
Cable. OSS 7 41 e.l'-j .'W J7
Optical Companies Consolidate !
Itilllif.ter, ,N. Y Dee. '.'(I. The lliiui,rh t ,
Ixmib Optical Cempuny liaa bought tlm ,.
Kin., mime manufacturing bunltieka, i,a,
int., geed will and nntterlula of Hteven, fi
Ce,, Providence. It. I, for a i-en.Muutliin
"In exc.. of li.one.oiiO'' t Tl-aa unnounce i '
here today.. The riteven, concern I. enu e
ft
64Vi Hi
ey2 1
24 - 14
12V4
92
53
I12V4
112
604 f
0
17
27
r I
48 ft
3 -11
'-
64
42ft
36
uuiei en the
rente., niti
05c. l"a
dollar wa
iiiiereviii'M
the eiar.i in tne bu.lne.. and In nerm.ii
,cn morn
nern- tlmea ftntJleyii alwut 1000 men. It lit di,i
It i te be the third largeat of It. kind In the
"UlM
i wen
. .
.,si.,it. v
-"T't
When New
in Business
Mere than anything else, a busi
ness in its infancy needs straight-
from-thc-sheulder, sound, financial'
advice and the background of a
geed bank.
We welcome "new" business
accounts and give them the full
benefit of every phase of our serv
ice, for we realize that, properly
guided, these infant businesses may
be the leaders of tomorrow.
One special point wc stress is te keep the
bank deposit always
above a certain set
level a "Safety
Line" tiie observ
ance of which lias
helped our depositors.
COIIT1HCHUI CQUIT4.ll
tit it at.uiT co
Who Serves
Beat-
Profits
Most
CDNT1NENTAL
EQUITABLE TITLE and TRUST COMPANY
7uielith above Chestnut
PHILAOE LPHIA
Deposits Over
$12,000100
Capital
$lfi00,000
IL- -LJ.
Tax Refund in Pennsylvania
Carolina, Clinchfield & Ohie Ry.
First & Consolidated Mortgage
6 Bends, Series "A," Due 1952
This Issue of bends will retire a debt of J8.000.000 without
Increasing the fixed Interest charges of the company.
Prevision Is made In the mortgage te retire all underlying bends,
which arc new clesd Issues.
Oress earnings avallable for Interest charges for year ended
October 31. l'JJL'. were 13.110,557. compared with present nnnual
fixed interest charges of $1,548,770. Tetul operating revenues In.
creHsed from $2,515,650 in 1912 te $7,538,734 for the twelve months
ended October 31, 1022.
Price 96 '2 and interest, yielding 6.25
Circular gladly furnished en request
IRedmeml &Ce.
1427 Walnut Street, Philadelphia
New Yerk Baltimore Pitt.burgh Washington
Mi'inbcrs New Yerk. Plilludelrhla and Pittsburgh Kteck Kxchaneea
Mere Than $175,000,000
during 1922 was invested
by customers in electric
light and power stocks, a
noteworthy expression of
confidence in the industry.
Bonbright & Company
437 Chestnut Street, Philadelphia
New Yerk Boiten Chicago Detroit
3Meetmgyilie7
made in the past we have
gene steadily ahead.
New that n new year is
about te start we have re
solved te make 1023 a better
year for both our patrons
and ourselves than any year
heretofore.
Ki! II;
North Philadelphia Trust Ce.
Bread St. and Germantown Ave.
Above Eric Ave, Philadelphia
Bends for Investment
NIiMltenj Upen Rtipmt
The National City Company
erricx. m merstham nrrv citii
Alan A. Alexander & Ce.
Stocks and Bends
Colonial Trust Dlda,, Phiia.
Bend for Copy el) Our Weekty Market
letter, "liVana Down."
II'
I
Surplus
$l,000fl00
LETTERS OF CREDIT '
TRAVELERS' CHECKS
Tliev nre rrtilly an ub.i'lute
iifcenhlty when traiellng,
We, iNsim (hem oed In every
reiinlry of the world.
Real Estate Trust Ce.
Uread and Chestnut Stl.
Stnrlcwell ' cumrm fWM
WiUen& E5l
l :-.ll .uwt Wi
-