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"
GOSSIP OF
THE STREET
EVENING fctTBLK) LEDGER PHILADELPHIA, FRIDAY.' DECEMBER 20, 1922
'25
DIXP
LANTWORKERS
frt.. mmnr mongers Judging from Uie
Mllbrc e( anme -jtorlea circulated yd
ttnl.iy. nl net en,y runnlns s,10l't et
'(jrlal but nre inclined te linve little
,pect fur fncts nnd conilitleni.
When Baldwin Locomotive miulc it
inlmnted rebound n report was freely
drculntcil Meling Clie fllrortera would
",,,. tliH nf let neon nnd declnre the Ieiir
TrnmlMMl "t",l dlddend. Ah n matter
JI Tit the l.enrd held the stated meet
he a '' S.l,nJ no oil'" wrmIeii
! fliedidcd until some time In .Inmi
"n When Annreiuln un driven
down ever n point reports were in rlr rlr
tuhtlen that the inciter with Chlle was
rut liki'1 I'e nffecttd.
r-irllu' In the day. these in n poi pei
tbii te knew the real facts, Mated net
anlv wem Hi" nmnlirnmutlen Midnp
rinelied, but 1'"' W('11' practically
reiniiletid fur tlminuiiiR the deal. Such
nn the niuductlen of the rumor nien-
jir l'iCMi.
New Year Finn Cliniigri
Pome verv Inlereitintr firm ehnnses,
te tnl.e P'ae't' with the New Year, wcr
hinted jeMenhiy, but nothing authentic
wei te "be obtained.
It Is Known n-veral of the mere ac
tive leu-il liens p plan te t.iUe in sev
frnl new partners and in one or two
in'-liin-es special partners will retire.
It s understood, one of the largest
hnnkliiK houses Is Keeping nn ee open
for what the Street calls u "Reed tinn."
These I" position te Knew mid eter eter
ilay'the in-ill bud nlruidy b"en t elect til
but no nniieutu-emenl would be made
until he wau able te lix ti bis prm-nt
affaire.
Last Day for LesvTnliing
Fnles te establish lessea for income
tnx purposes came in lurRcr elumc yes
terday, as it wna the labt day utec-Ks
ceulil be sold for such put poses "ecept
for cash." Stocks fold lomei row would
net he delher.ible until Monday, whkh
of ceuim', would make it tee Kite te ie
itir losses for the income tnx leturim
for 111--. The volume of such helling
w.T) a gre.it deal sm.ilkr than ut this
time a iar m.
That Steel Melen
Netwithts.indiiiK .Itidgc Gary's- denial
that an extra dhldeud of any seit
Is beinu considered, there Is n certain
(Icrient thnt peisdsts nnil insists some
tiling in l C),'ni (I te distribution of part
of t lie laige surplus will be done in the
earl) p.ut of next jenr. It is pointed
out 'bj these peep'c that Judge (jiirj's
deni.il was puielj technical and dtclaic
their argument is bucked up by the
pronounced strength of the stock.
JiuU'e (iarj's denial, they say. docs
net iinplv an extra lii!eiid will be
luii"iilrrtil, enlv that it has net been
Hi fir It was luiiyjied ycslciday that
in p -nation for the melon-cutting
the ii),.,p,iny bad been selling its Liberty
IlnntJ holdings.
I'rein reliable quarter", however, it
wis- stati d the holdings of Libeity
ltiunK whidi constitute the greater part
of the gliil.KilMi'.ll marketable feieurl
tifs, ui-f btill intait.
Year's Final limitc Call
Ac-nnliug te Washington dispntcbrs,
tlif liflli ami liual uill of the culendni
yi.ir ut" the condition of the national
buds ill fee issni'ii I v the ('onintrellii
ef Current-) as et December 20. During
the (ninsi of ln, ail nn ni" t i :it mi the
Comptroller h.is ledm-eil the number of
items that lutiKs lime te report fiein
Hellt-llw te sixtj-ene, or fiilllli'en
ks tli. in the number required umler bin
preileci ser.
'I he I, n form of lepert, ncceiillng
te .in i flicer et one of the large banks
h-is ri'diiud the work of answering the
e.ills Hill per cent. "The cashier."
he siiil "can pt-artlcillj answer the
e.lK liiui-i'lf ami finnish all iufoimu iufeimu
t ion ri-iUlteil. whereas, under the old
fm in it would take sceial days ami
tin; wtrk of eight i r ten clerks-. H.une
is i rue of all national banks," he
added.
As the resiilt of a simplification of
the Ivinl; mils ma ' In the ores""!
Coiiiptreller, u reduction in the clerical
feru- et his elhce fiein le te liO pel
cent has been made.
liuliislrl.il Maturities Next Year
liidiiitrbtl bends and notes falling
line in 1',1'J.'! will furnish censiderame
fldl fop new financing, although the
fcrmtir pnit Im for small amniints which
II' be p-iid without refunding. Total
i- Sun7.7!ir.,210 au'.iinst Slil t.DIII.T K
in 11)22 nnd S21 .".0:! 4.-::tl in " 111
iiiibistiial. public utilitv nnd railroad
Vn1""1- "'"luring in H'2.'! aggregate
(il.l,,"(lLMriO, whlle foreign goern geern
nent lienns falling due amount te
Kl)'J IKl.OiH). mnking a tetiil of nil ob eb ob
IlBntlen i maturing in 1!i2.'!.'sMi.-,;Sl,1."0.
Anion-; tl lnrpcst nnd most im
P'r'ant !-, t , met (irp p'JO.
OCOtiOi) liethlehem Steel seiies 12 7
Pr viit netei. ,ue full 1"' Sears
il'ielmil. iV. Ce.. .-slV.OOO.OuO 7 per
H-iit notes, dm Oeieber I: Vii-gliin-
nndlna ( liemii-nl Ceinpanv, Sll.O(lt).
(II if i .- )tei nut ImiiuIs, due Divemher 1 :
"" ' e r icmpnii), M. (lIHI, ()()() 7
P"r lent ci ii' ei tilde bends .due "Mn 1
lulu) Wnn.imnker. SIO.OOO.OOO first
rerlgTgi' ," mi- cent bend. due April
J. and I.iicknwaiinn Steel Cotpenitloii.
M) "sC.'.'.UOK .-, pu- cent bends, Jue
April 1.
While there Is nn tituibunl number
if isdius mainline in .Inimurv nil et
ept one. State Stieet rchnngi'
-,(ViS,0()0 (i per lent notes, dun Jan
tav ,'il, me for I.m than Sl.tllld lAHl
Y"" 'f the is. ues In tu- interest at
'hu i.-iti of S per cent. 7 per cent and
' per cent. 'I he outlook for iiiuuej
rutiH for 1(12.'! lndiuitis ihnt coriioia ceriioia coriieia
ti"iii will be able te n Ilium e at lower
"'. T1IIJ TIJADKU.
BIO PARADE FOR GLOUCESTER
Tlie Sour Kieut Ni w Viar Associa
tion of (ilmicester Cit), whiih wen sev
eral pn(b here Inst jear, will parade
in itleue stei- this M-ur, instead of
tmsbiiig the liver. At the request of
jleucestir business men, the nssecia- i
tlen dieidtil te teiu ever) hiieet In
JileiuiuKr, beginning at :'.',.) nMeck (
in the meiniug. Man prizts will be
awarded. Aftir the parade there Willi
de an n -roast nt the ilvetfreut. 'J lie
ssfociatien has 500 members.
ELA ITDOVER GIFT
WHIvills Manufacturer Turned
Over $1,000,000 Business
te Workers
SAYS HE HAS GOT ENOUGH
Ilenry A. Dlt has completed the
turning ecr of his $1,000,000 business business
le lils empleyes, and new the workers
In the Mllhllle, N. ,T., plant of Henry
A. l) & Sens Company, are nwnltlng
his nrrhnl there. He bus given them
htn business, nnd they personally want
te tlmnk him.
"Mr. Dk will he here in n few
dr..s," said Geerge lteler, the piesl-
dent of the tiee ivminnnr. nlm linu
(stabllHhnd his etricfs In the plant nt
Millvillc. "1 haie known about hi8
plans for thn transfer of the builness
for some time, ns I hate been empleved
In the elllcn of the company In New New
Yerk. J'he workers had no ndvnnce In
formation, and scniccly can rcall.e their
geed fortune yet.
"Mr. Dix- will cxpleln his plan for
gllng the business te the weikers. The
new lempany A.ih Incorporated last
Tuesday morning nnd the plan was
tinned eer te us then. The foulness Is
nourishing, and the gift te the empleyes
menus n big thing, let me tell wi.
"Our capital Ih 52,"O.O00, leaned us
by Mr. Dlx. The workers held the
Meck certificates."
There nre about 100 emple.ies in the
Millvllle plant. There are e her fac
tories of tlie company nt Semcrvlllc nnd
Hrldgeten, N. ,1. During the war sal
aries were increased ,'17'i per cent and
Tinvn tinem. tin... -iilttrtml Tt, mlilllt..,.
.....V ,.v.. Utl IVHIH-Vltl 111 MT4UI1IUI,
emplejes get cash bonuses.
Mr. Dix, who came here from llussln
when forty-two ears old, hclleus the
empleyes nre entitled te the business,
iu flint. Iiftltwid t.l, it I.. .11.1 tt .... tf.. ..M.t
.. .,. a.v.l.l. 11,1,, 17LIIIII II. , 1 ' AllJ 1IIIU
bis son, he s-nn, have enough te live
en. ins name) ei .(ki,uiai a year ne nns
fclvcn up. The tecie.nry and gincrnl
iiiiiiuiKvr ei me corperauon is j'rcucrieii
IK l-'rank, nnd the treasurer Is Itnlph
Waltman. All linve been with the
company for jear.
"The Idea of the silc- d-ites back
many enrs." Mark IT. Dix. son of Mr.
Dix, Slid, "te the subtle. Kindly influ
ence of my mother eicr my father. Ten
)cni age she persuaded lilm te estab
lish at once, instead of after dinth. by
bis will, it hospital In the town of
Mllhllle, N. .1. The geed accomplished
by this institution gue my father se
much pleasure that In 102) he gave te
the Yeung Women's Hebrew Associa
tion his country home at Mount Klsce,
N. Y., te be usnl ns a summer home
for working girls of this cltv. At the
same time he donated a fund of 3100,
000 for its upkeep and payti the asse
ciatien rent for the one hoiibe en the
property which Im eicuplcs."
Mr. Dix came te this country thirty
curs age from Itusslii. He was then
forty-two jears old nnd unable te speak
English. When n drygoeds business Im
established In Millvllle. N. .7.. did net
make the stilkes he hoped for he turned
te the mnnufactuie of women's "wrap
pers." In 1007 Mr. Dlx tinned the
licnthiunrters te New Yerk. Since that
time no salesmen htue been cmpleed.
Mr. Dix, n large, rudilv man. does
net show his age. "Mv Interests," he
said, "are my work and nature. All
tliu time that I peulbly can t spend
outdoors."
4f
u
Killed by Automobile
Archibald lllnlr, secntj-five years
old. of IS-'O Arch stieet, died last night
in the Medlce-Chlrurglenl Hospital of
a finctured skull, suffered when he wis
run down bv nn nutomebtlo early
Tiieday morning en the . Parkway nt
Seventeenth street. The automobile did
net step uftcr the accident.
L-w of rfJ
An Announcement
We are leaving our old home at Sixteenth and Arch streets,
where our offices have been located for the past 20 years, in order
that the Insurance Company of North America may secure the nec
essary ground upon which te erect a building which will be a monu
ment te the city and te itself. Upen its completion we expect te
return te the site where we have been situated for se many years.
We believe that the development of the Parkway is of much
greater importance te this city than our personal wishes and we
have acted accordingly.
We have selected offices en the fifth and sixth floors of the
Flint Building, 219 North Bread street, which was designed, con
structed and equipped by Steele Architects, Engineers and Con Cen Con
structers, where we will be located after today.
We invite our friends te visit us in our new home.
ymMxHUued
snA&
Vm
Alan A. Alexander & Ce.
Stocks and Bends
Colonial Trust Bldg., Phila.
Eend for Copy of Our Wcrklr Market
Letter, "U'i nnd Downs"
I
Investments
Baker, Yeung & Company
JOsJtlll XV. Ml .U.N. Jr.. Mueaier
Land Title Bldg.
Uoiten
Philadelphia
trT Ter1! St" !( T. liaiinx Iieum et
leiik' Ri'imllm, ilialrm te drop Inup iff
ut Plillmlilphln .i li I v lie v.lt. te
Ufcltlmuit (' iinniunK ,llini will 1..,
trt.xtnl ullh hUUt iliiHiIcikh Het
hu Hurrinun bii'I Cuini'. ni . 11 llrend
ttrcit. '' oil .
BkUl
& CO.
i. ruw Lcick (is, 19II1
Li'liiuh Tower Securities (is, 1027
St.uul.ml Gas & K.ectric Gs, 1J2G
I'mpire KciiniiiR Gs, 1927
'mplrc Ga & Fuel Gs, 192G
BAUER, STARR & CO.
I-and Title Hulldln. rhlUdf Iphli
New Yrrk Olfff & Hectir Stri"(
Dlrrrt I'llxntn V'eViWienri brt (ifflrei
If There Is a Market
We Can Find It
We held sales of stocks
end bencta every Wednes
day, charging S1.50 en.
trnnce fce for each item. Our
weekly catalogues and post
card aervice reach every mar
ket. We take plcaaure la
furnlshintr quotations i
Barnes & LefJand
Mih-U Pr-lirr nrrt Anrtlenr
147 S. 4th St. '
1421 CHESTNUT STRICT
Mmbr Phtla. block Enehengt
rENNA. TAX FREEBONDS
WESNER,ROGKEV&CO
Certified Public Accountants
Drcxcl Building, Philadelphia
Complete Investment
O 'a n
eecunues service
Waimssssjsmtsas,
. CtiCitdulUclcceuntants ft
Income Tax Consultants
-...., tujra1L.w. 4cruueu M
1T-U s i: n v i;
'' YOl'R IXTER.
EtiTS IX EVERY
ACCOlWnS'G AND
AUDITING CAl'AC
1T) A Consultation InrelT.t K
Obllfttleu
LI A TkfDi TrT-"LT T- i !H Rfa' Estatclrest Blk,Phik,Pa
Established lSbS
Commercial Irust Building
v n i Ltu jc jui"ri u
Baliimore NawYerlt Washington
I
Bends for Investors
Reed A. Morgan & Ce.
.Mr mt r or inn i'iii:i Ntn Drrh.
Writ t.xd 7mv( Hug i'hila
Bend Prbces
FROM 1903 TO THE PRESENT TIME
MUNICIPAL
RAILROAD
PUBLIC
UTILITY
INDUSTRIAL
1021 192.2
HALVES OUAlrTERS ,.
I3T e 5r2re3ryiCLT
3 00
00
03 -04 '05 "00 "07 t8 "09 IO 'II "12 "15 '14 "13 '16 '17 '10 M9 "20
.I, i 1 i i
twiBliSIIHI9vflMllSK9HBIwfll9HkjPQfBI
K3 average pricc op dends as BJHBHMCTJgvBgpQB-
BBl RECORDED BY PLOTTING MnlBWHMBMKBaMIMKJB
HI MOODY'S "PRICES OP CAPITAL" 1w8BBSRDCIHBIHQHD1
Bl ON YlCLD SCALC. twHDMBSBHAuBQflRAB
00
6 00
7 00"J5
'05 '04 '03 '06 '07 '08 '09 '10 l I '17 l3 '14 '15 'IG '17 '10 '19 "10 Hr 2" I" 2 3a
halve quarters
i92i 191a
S.QO.,
Municipal Bends have fallen the least, from a 3.30 te a
4.19 yield an increase in return of 0.89
but, for the investor with substantial income or earning power,
Municipals are, in all likelihood, the cheapest by far at this time.
In 1903, when en a 3.30 basis, Municipals did net have the
added value which new attaches te them through exemption
from income taxes, but sold en a purely investment basis as did
ether bends of the highest grade.
Public Utility Bends show the greatest gnin in income
yield as compared with war or pre-war levels, having fallen
from a 4.43 basis in 1905 te a 6.38 return at the present
time, an improvement in income return of 1.95
Railroad Bends have fallen from a 3.91 basis in 1905 te
a 5.38 basis at this time, a gain in yield of 1.47
Industrial Bends have increased in yield from a 5.26
basis in 1916 te a 6.79 basis today, a gain of 1.53
The chart, we believe, illustrates which is the cheapest
class of bends at this time and whether long-term bends
should be purchased today by the investor for income.
Harrison, Sivsbth & Ce.
INVESTMENT SECURITIES
121 SOUTH 5th STREET
lomeard cioe PH I LADELPMI A
r mr --. iibiiiiwmu , . imuii ,
I ill mi I ! i i ii i iii. wTaii ' . -rifnTiirgwrttii'ii ! i in
ii iil.l
1 k.liuwwp'iiirii
I
ijMjjr'rgr,a.-wrfrmMnwTrMfciWiVft?insE
Today's the Day te Cheese
January Investments
SSSSSSSSSSSKS
WE suggest the immediate selection nnd reservation of January
investments. We have recently purchased a number of especial
ly attractive bend issues, and prompt investigation will enable
you te select just the bends and serial maturities you most desire.
As an investment for January funds, such as
Bank Interest Interest
Bend Interest
Mortgage Intercst Intercst
Bank Surpluses
Maturing Bends
Maturing Mortgages
HAROLD TEEN : : : : ; As the Queen Orders
s- r meic t'Aiae 6iAAve. a if Rwdy up,qole! y'ktsIeuj. i j n N . "N I
f HOWJA UKE. IX A HAlTfAA Uka THAT 7 "5ME.K HKKCuTS' C S DO J V' "cJ& J''' ''"4
6VJG3?- th' vera a rrBCcuse. cu&y W eaiv I rtae Pcsmuai-y r vor V 5Lrv! T; s l
V,-... u.x..-T-,-. V U;EPriT. i CZZZl mik Suit1 tfet - - P7 ''Jtt I X-' Z 7,
'euunii ei-i us. . vja -L-! sikJSCVi. AmVi. i'' K--''l ni"JJw Q i la2S!SSS
IWlwif f u . II . gtJ Unvill
4 . H
we recommend Straus Bends, in $1,000, $500 and $100 de
nominations, yielding 6 and 6J2, in serial maturities from 2
te about 20 years. Literature describing these sound invest
ra"ts will be scut en request. Please call or write today for
BOOKLET 919-L
3, W. STRAUS & CO.
WTABI4MKD lS8j OFTICES IN THIRTY CITIM WCOWOHATED
1(317 WALXl-T STREET, PHILADELPHIA, PA.
Tni.ri'HOMSIItlCi: fi387
40 YEARS WITHOUT LOSS TO ANY INVESTOR
I 1"2J s- w S- & Ce
J
Safe Bends for Investment
Halsey, Stuart
& Ce. Inc.
I-aMThfeBM. rUpkemUaat 74 It
MPCiiaufnvir.
niewksun
mwm
ueln.
i)fi &
Mi mbtrs Sw Yerk and
I'kthnhl'jhia Stock Uxehuiuien
1512 Walnut St.
uImmSSmEI I
" fl ' ' .1
StOckwell ' CERTIFIED PUBLIC
WJln X, ACCOWTAHTS
tUniTiUcBldt.,Philp.
C. S. PATTON & COT"
I i CIII1M T STrt.
BA1NKLK5
SAII.I.K ft. S fr Wnns '
RWt i'i""lhK "", "'. I
I'lilln, KteM Vmhnn. I
enu.i.n i..'irl
""n. mill dIik k iiuiiil
i.wi.i.r.
Supervised
Securities
Yielding
Seven Per Cent.
The R. L. Dollings Ce.
"Uuildera of Butlntu"
Philid.lplii CelunVui UjUmmKi
1421 Woleut Street
1
1
it
l
A
r ifl
mn I . - - :
MbWmm