Evening Star Newspaper, January 1, 1928, Page 13

FINANCIAD. THE SUNDAY STAR, WASHINGTON, D. ¢ 28— FINANCIAL. 13 m_—————————————v——————————m BANK CLEARINGS ; , ;NURMAl BUSINESS me vear 102 Total sales were $568,986,000, against 815 GSPM&OPI ... 132 lm 41 Inland St pfd 111 4 24% Penick & F ptd ; 1005 103 $470.254.000 for the year 1926, and $161,037,400 for the [, {li .;;;,‘,\_PLJ"" <80 ¢ 873 Inspiration ‘ConCop 12 . - Y Goal &G T 8 104 13 Exceed All Other Years in| ... pisend e ; , B30 Tovomt Bun : 2 8 |t oo BE C Rl AL 2o o 3 Y dola B # own. .. 130 I . v‘ i Penn Rallroad A Y v & & N saen. in doll i S.:e r4|\4:|;xe. ! }:‘I:’ tio "X ‘ull = q1 o A3 Int Aecl proptLoe hn 8 ! e ]47.2” Benn Seab St LD Lo 1055 b3 *|D. C. Bankers’ Association istri o AbnL R 5 How i ean & Cie¥ X 7 ; Int Cement ..... 4.00 s+ o» Gas of Ch ris #7 e p 0 113 fin sand & Clev pt 3. 571, Int Coment pfd’. 7.00 113 b oy P, . District, However—Phone | sy a3 v e Ehli e e s fit Casold (1 T 113, d AR T bl Bl e ity il Head Sees Cause for Optimism in 1928. 3 Al & Stiue 5 1 ! . ! c ¢o9 Adame I?“\‘rxv.:.“li 4 - “3 :fl‘ml"; a . o }nl l‘,nm »l;nl’ ookl 4 T Bl ;”". Mara |v(/l P 2 Adams Expres d A ¥ Sto " s % Int Com Fng A 4 Pera M ompany Income Drops. AdVahee Rumely - o 3 L P 3 10,387 Ini Hanvent . 20 i 584 Pein Muhients o Adv Rumely \‘N . 3 " v c o 45114 Int Harvest pfd .. 19 1 fo 4 430 _Amra:m‘m Lead s 5 ¢ IL LK " actd Ioe afacl ol 0 ! ; 454 s ) A Reductio $ : 1 Int Mer Marine ! i ¢ '8 S ) Rubber . e e . . 4 jer . P . ap Ira o BY EDWARD C. STONE. Alax "Rubher e 2 | e b TngEee) Dane old f g W - Fote—The following forerast of prob- Ranking clearings in Washington § & Vicke 600 k N i . Phil & R /7 S i % i arancial conditiee i Aldeka duneau’ ; 3 i Z for the vear 1927 failed by a smali Lo oo ; 4 o o0 A 00 i margin to equal the record totals Aloany |'~ Wb il F o0 4 Atk L.‘.f:”""" LR 4 b 6e pid piled up in 1 Ail A Cables 00 olo” Fuel & o b . » s of Cen ‘A . 5 Al Am Cabies ¢t s UOle Pued & I pid o H thipn et s The 1926 clearings amounted to §1,- 1A WL i : il ol I AL 600 114 Si : ; i T ! : $92.5580.951.65 In compariso 3§ 10 Athance Realfy 1o A 410 Colo & “Sonth k ; Inter Shoe 3 nix Hos ptd ; i 9 fotal of S1.385.807.420 05, i1 1827, o dor | 31138 Alhed Lh ' el 8 23 oSt et b ::.‘. 3 00 Inter Silver © A . BY WILLIAM W. SPAID. otal of S1ISHRNT AN in 1827, a dr Athed On 4 400 : 1543, Inter v : rie sreow pt Ul : That there has bee copt! cline in total canceled checks for the Ao’ g0 : : ol lvill"|‘lln‘l "rel & e : 4 : oo "|l|" : i e e Daen S T The whirlwind finish in local Christ- | 133 Amal Lesth : s g ! i i W 0 ) : e Fote! o oth Tocally and throughost the couns mas tra failed to bring t 3 Amerada 40 3 Col Gas & F pfold ... 117 1 2 al i 5 b Flour Ll 2 L AR OO I e 1 b 2 Am A Chem =, ” Columt al L i Pitte Coal " vide Yecombe dings above the « A a0 = i ] i htbe . : Bikts Coml ot g Al ity month last year. December clearing ¢ Am Hank N wita 3.00 S31% Com Crdit 1t pfd B N ; p B W 22 ig ¢ Columbia slowed up somewhat, dur- reported vesterday by the Wash ) HectiRoE ¥ Cutit farudiy r"“ B. 2 305 J X 0 Bl e Y p 3 > . there have been indle ton Clearing House I CEdn Fu% 5 4 b PO reached the sim of $123.381. 30 e 3 G & X : ; b Kaneas & | Fhis conditiam t& not confined ety 8 651 462118 unfer the December Ais- - ; b Commer 3 ; P& L st p'A s.‘fm 462.19 under the December fiz - rak S & F 138 3, | 3.58710 Commer Soly new . 204 1 l(u’r: ‘CitySou D a ures in 1926, when they amounted to . % P mmonw Power 3 K: € Son pfd 53] v $127.062.714.45. Brown B EI pf . 6 Commonw ‘v‘,‘. P 18 s e T M 0o ;. he 1. inancial S - A can .. .. ¢ 3 ongoleum:! 9 o v i d the fe However, the 1 clearings were S 1’,1’&? S 1 Congoleum g Sor 7 & Co vt 1 : g f R Tt h nd the fow the best ever recorded except for th 3 ARk Fouad: do0 ) 3 [y Kiser 3 & Co pid. : por R AR 408 4 he bes corde, f shound, 00 1 ¥ S50 Postum Cereal - nomenal 1928 period. Local clear- N TR 3 41y Cu s 3 608 Kelly-Spring &' pt Pressed St phenome peri 7 Am Cham AL Conn 'Ry & Lt . ; 500 Kelly i‘(r e .l i A 32 Pressanl o ings first passed the billion mark Afer Cham ptd o nn Ry & | 1 iz nier (h onsol Cigar .11 y i Kelsey-Hayes Wheel o When they reached $1,102,158 S TR J : 154 L,..:." b i3 k Keltebitaven W ot i - Our merchants have done well in o : Y ; ‘,."a,."':‘.. S : Cotsol e k ; Kelvey Wheel pt o0 7. 'y - e B 27 | some lines and we enter 1523 with the, ) 80 it & Consol Bk . 5 3% p i Kenmee opper . ' s 0 prospect of local conditions being Encaustic T .. 2.0 : SR pin L i Eevetone Tr't"& (_’R 1 : 1 & 1y improved by the retucn tol i Yess bt ; i rta : 0 : ¥ W ; - o ; Explo o W00 it Camwl R tub ot 6 a h 5 ] B 2 : 59-40 hasis of ficcal relations hetwesm Lo annot WYt : : 2 K . sy ; 3 08 1 District of Columbia and the Fed mary it is now 'w ible to | S e 5 i Cant , 200} jovernment, wi ow’ scenid i saenih Wi Am ¥ A - L . 1h N 13 5 : £ : o be approved e present " a0 v Am . i . " < A \ fe S5 pid 41 }‘;:l'.‘”\'.'“ 1 Congress. This gea ment, which r T e e E 1 5 ' a5 Bone Rippenheinier’ t g . 51 Pure ol oe S : 3 is under way, will g5 far toward sta ey : ) Vol ] Pure 0 k¢ 1’ ] ; 1t |t g and stimulating the lines Ice rls < : } Gres X . - Ban . which have heen depressed F Jeo old 5 1 30l Lacl 00 ¥ $ That Washington is becoming more Intern Corp ¥ : 7 TS E s 131 FCago 01’ & AR Ticee & canlter 6L A : ; 103435 Lanibert €0 ke e { tions to the Corcoran G Phil Morris Tis. ... il donea 1 Wones pid. x A La ?v.mivvrf P‘ Am lLa Fra F E pi A Lt wid : | e Sl R anaAhE TAna ocomativ . R . g Tehn & Fink .. | B Tt 1 : it b 4% Life Savers .0l Wa n U Am Mach & F . . 8 a < Lir & Myerd o0 3 M & F pid xr Myers pfd. . Am Metal . i ba R R p Tig & Myers B... Am Metal pid : Amer S1 SN A 4 Lima Loco ... 4 Am Plane = 2a K oS ll.m\lld l’lvhml.c . m Piano d . 8 om Sug Loew s Inc .. 0 ! . & A D e o g t 3 Toft Ine .00 t 0 Kures { lhvmln i B i Curtisa Aero . : Long Bell rke ¢ only the let-up in building 4 liator i 53 Curtise Aero DI | 3 i : v ¥ of us to lose sight af (il to allow the demand to catch e 1}‘; i Cashman + sons : 5 5 J =i S Tyve o 5 1 . ¢ v has been going the_supply. prevented a new S R N itk Sons e . J o A e resction. SeAUDE .. ... U 3 K31 Cuyamel Frut S x Ship & Com.. . s 4 o h District Bank Deposits. Shibviding | 40 ( . it Davison Chen Sman 0 ; 1 . The Federal Reserve Bank of Rich ey 8 : B et diin mond. in its monthly report for : . ; Del & Hudsor, .. vember, said vesterday that bank de Snuff .. Pen &R & W pra ” Ludtum Steel posits in the fifth district were at rec- m St Foun ; ; Det & Mack .o } : Mac & Forbes pid I1 2 phert Rels ord jevels. The report adds that mem- | =~ 51 Su Found pd 700 s 315 Dot Edison, - 0. 8 b B : L : ; i | 5,48 RonEee 2o ota 2 ber banks, as a whole, are in A Am SUE Refin ptd. 7.00 k Det Hills &8 W i . i . 1 1 stronger position than they occupied | 637 Shmat Tob 0 et Uni Ry ; : Mccrory Sirs pid a vear ago, and debits to indivitual Am Tk cable.l 300 s Drcee Revn 11 pid B4 Mot or U accounts ficures in November above | 13357 AT = K00 b 5 5 ‘In7 Diamond Mateh . il . " Mack Tr 1@ prd. those of November, 1026, testity to 300 Am g DPodee Bros A. s E 3 K Mack Tr 24 pld (5 e T 1u <i 1 be- g . 00 i odee Br pie 2 Mackay Con % 3 H n the larze volume of business still be 800 Dodee Br ptd i A e e ing of rates may ing done, it was stated. S AR Tabe Foun it o « Do : % W e : : S X el Gl S L However, except for holiday trade. Type F pfd .. 7.00 - Dul So Sh & At b Madtoon Sq Gar Ll 1 nore_ th. business in the fifth district in Novem- 3 : Dul S'e & ACp L Magma Copper .. : e 2 g 8 : pul Sup Tract .... . Mallinson & Co 1.0 35 - ber and early December was not up 3 B X 5 Dul Sup 7 i Mallin & Co ptd . . b 2 - o verage of recent ¥ 2 Dant Tote G ot § 5 T do not believe the recovery 10 the average of recent years, it was var W Dunhill Internat. . 3 B 4 s . B RS t2id. In retail trade sales of depart- Wai Wk 68 bl : w318 Dupont de Nem 343" ; Manhat El Sup : % ! 3 as reached such 3 point that we are ment stores fell moderately below the e Ll a2 Dupont do Ne'deh 1 Mannat Guar o b o ? > ¢ warranted in casting cau nt st 11 rioderatels olen . 3 Duques L 1st pfd 7 T § e 3 N =3 ? winds, we have every reason to be ] that 1928 will at least Do & volume of sales in November last vear, | \“‘_--_n' P 53 Durham Hosiery . a ke i . . : Durbam Homery bf .. H : 2 . : 3 ar of normal business activity. 16 Archer Dan M pfd 113 s 108ty "304 Martand Of1 arland but were in larger volume than aver- |y i AR R : u - ks X E an Kodak The unemployment situation 4id not | Arm & (o of D'p{ 700 8 : : BUI-'.S HUI—D SWA' ; Marlin-Rockw . November sales during the throe a age r sa g East Kodak pfd ; ug_ptd. 5 : Shell th 0 pra improve during November and early Am & Coof JUA .. . 2 . Ro 1. o nei Cons ptd [ 5 December. but, on the other hand, it Arm & Co of 1 B : : 16 Martin Par o ¢ 1 : = i . 5 2 Arm & Co of 11l pt T.00 E . 7 sthieson Alk Wi, 3 3 St & 1.0 G0 . did not grow materially worse, and | 32 Arnoia_Conmables | : ! ; h 5 4 Muihleson Alk Wi : . - concerted efforts to brinz forward | 2 Artioom Corp =.. 3 ! EERR : P is | % 3 2018 Artloom Corp pld. 70 P . p May Pept’ Stoiés ! 022 b ¢ el PrEdd Read Tat nt Rewd " » ERLERTEE P4 | [ H R 4 2 rmil LEEE Ludlum Steel [ |+ 19" ¢|]|||L¢||||_ wraroeBo we years 1923.25. Wholesale trade was Am Zine L & S pt ... 3 K 5 ¢ i nacond pper . 3 Eaton Axle & Sup 2 Fy g in smaller volume than in November. | Anaconda Copper . 3.0 » e R . ; 83 Marscaiho OF .. ... +1f Sherwin wans ot 1 Market € R pfd Shubert Theater some contempiated projects have ap-| 20.3 Artlogm Ce i 1 - : Mex Pete 1926, in nearly ali lines for which sta- | 2 Amn Armor pld | B o i 3 z R Qo stics w ailable, it sai Archer Dan M « 3 7 Market $ R pronfd tistics were available, it said | Yarket SR pr pid some relief early in the coming year, 111 I:-m 1’\'1‘;"’" rm, E Co s o 5 o 2d old 3 n Brant Al . 3 Mex Seah 6100 the review declared. Amso Oil o 3 Br B 3248 Miamy Copper The volume of construction work 97% Awh, T & &an'Fel im Capwell 2.00 15308 Mid Cont Pete 110 provided for in permits issued in No &S Feotd 8 ndiott-dohnson . 500 Mid Cant P pfd.. vember compared more favorabiy - 3 stdohn pid. T.00 1% % i tates O11 with those of the preceding vear than Al G # 3 P : R o o the permits issued in other recent| 2. 3 iter Rut montns. Business failures in Novem- \ v 3 3 Eq Of Bldg ..... » % 3 T id ] Atlantic e b Minn & ber were more numerous than in any g Ret E 5 + Equis Teost ., ¢ . Bt other November singe 1421, but liabil- vder " . ok 8301, Minn StP & SSM ities were relativ , aid. e e 1 t S ¥IRASNEY G0 © 5 Stand Gas &1 The year 1927, the report concliden. ae Lok i 1 e P A R el S as fairly favorable for agricultural o . 1 ‘ i Steam shov.. 230 aa% u Mo Kan & Tex ptd 800 3 G e ol o : : Steam Shov ef ... . " | 359K Mo 05 P work. and farmers generally are in | . i Sl Suor St ob A g Bo Quaic . e e & better shape than they were a vear | Sales f‘t-v 1 St Shov ofe .. . .. 1 i k T Mont Power 500 : d ago. in spite of local depression here 130 :utxflsr-'};-‘ . 3 p,«.wn \Ak l"lh-u. :uu i yn:‘;‘m«“lvrdd_ 66 and there, it was said. e s 55 Exchange Bu 5 207 Monteo X =8 165 Baldw Loco pid.. 7.00 123 e el : 3 Nomne & Feern " 3834 C. & P. Telephone Net Off. EX. lu.u G P 800 4, Puirbanks Co pid.. .. 18 ; \ MMation Pietares ., t income of the Chesapeake & e S A . 36 Fatrike Morse o{d, 7.00 ) b Motherinde Coal'n. e : . Potomac Telephone Co. for November | auh )uu & 0no! pla”" 0 A 4 3% Famous Diasersls - Moo e - from 3 to 10 poinis. T" e o was $108.771. against $114.793 in Oc- Bamberger & Co pl 8.30 i R e Tk ] Mulling ki A : X 3 y heavy for a rolidey wee- ober snf S144A724n Noverber, 1036, | 1538 Rt § Aroor .. 550 202 ™ 0l P Ak Ty 1040 % & il : : H S - ; ] e dav's sales rinning ever Ir The statement filed with the Public g or & Ar p1d. 7.00 183, Fed Lt & Tiact ptd 0.00 w S -‘ v | g 2 Baok o e 19,00 p Fed Min & Smeft. : - 8 ; ah Ro. i . - : vearend forscasts By Utilities Commission follows: 3 el < 1 1 Fod M & smoptd. | . ; - he T 1600 E % e 1 r 4 Mot Truck .. ch & flx . t ) 0e * 3 S ary of the Treasury Mellon and EiderPhon 1T’ 40 2 Mot © 3 : s 3 . hanking and ratiroad lead ‘ fin Ave Bus i tathe ¢ Nat P it pf K40 4 o N y 1 : . o hexpectaticns of & i ol 0 4 & : £ . i . : aking January reinvestment b B ¢ ; So0 : r 3 the dasis for the Bayuk Cigars pld x T Lt ptd. . 700 S & Chea Net operating revenies $ *4% Bayuk u.‘ T bl IOV Texas Co o Taxes assignabie to o Bracon O < 3 Texas Corp eratione i et e B R 4 tion Co . : Uy Lee s 12000 ey sulon KR Beech-Nut Pack 4 A ! a1 & Sult ptd Opersting income bt Pac y nk S & C 0fd a P Koo operatin ;-«'un.» 2 Rk O EULEXR . 1oy 3 Yt Fark o 2000 * 443 Beat & Co ...... 3.00 ' el Npubber 'l .8 B ) e ¢ {o0 Py Brod 0 Gross income 465 Bethlehem St .. B \ PR ax s ¥ o T i ' Am Tanic U Dept Stre Berteand mivelianeois 120 Beth 8U 70 pld. .. 7.00 3 Gen Am Fa v N e p seoe 2 4 ifoomng tale Hros! 4 3 n Anphait A Dist Praq L. s 3 41 ;‘, u;.‘ ¥ ‘, td.. 700 i n ‘A»‘:-hmll: old at Distil "'i' Yo o " .wg \n nAve x\.. VS : imen 1 S8 Gon o i : : 2 st . 883 Thompess: ¢ Interest et ] : 0 sl p T ; P x pilim &8 i iy enux..wl o' 001 o g 252 B (fo?, ] ¢ Ao tend ot 10 L 203 \ . i 2 7 y i ob pra 0 Nat Lead pid Al . ’ Betleved Giring the > : i b LS Nt Lo fm u “‘ ! 1 r : k : R s : ¢ 1, Nat Radiator e o% R e % : R Net 81778 487 K1 | 55 B £ 1 i ! 1 gat Nat hE! i 8 : i E % Yo N ry N O tm acilities’ and central B okl . ; ; ’ LN : ! : ; ; ; here mext General offcs y ed 10 the system 1 1 ‘ l B A 15 i < QR b | 1 Ty ] H > noved w nge of 1 pant andl of the . ; Potomar > [ i 2 Motors g 7 Nat 3% ; ! y %00 . ¢ Uy higher at 138 4 & l 108 Biiyn Man - phone n \ ) Bkiyn Un Gas ... 8 Bony 11 N Motors % il 4 Nat Sorety rie ; 3 are 1 « that smaall 1 1 ' 5 I pa pid low 1o Nat Tea o o . 2 de aa s . 5 > £2 Deowp Shos pid N e & p AT N0 Tex &M h 3 e 1630 g s ¥ ew Chevrvlet models Pack it 2 pehp § Braneslok Bk © - Qutdoor, A4 R Airhrake d 3N A e N s wop at €2 € statement covering the operations | by it A Gen Outi Al b ! 7 A Anner Mg o 4 Sha 1Ne - SN ¢ N . s ey ke e P o Gen Rwy Sig . e P ¥ Y O 'fl"" 5 v J Ll dae ‘ 13 2 < R carlier n the| n e S el 400 Gen Ry Bk vt [ . . o I : ] \ \ s . ¢ n or Sifor an ex ook B 0 p fon Rwy Nie ' x e B & pi 800 g . en Rwy Se pt 1t I “ ; . 4 B k re than 2 points, bat He A 1000 p ) it 4 i . i \ 3 : . Aded sighet laing. Dodgs Br B 00 of i W % * nd felaker advanced e 1wl Ginibel Drow ; ; Burne br :, ) ; 1 hel Hie b o : ! St or s > Adq Mac G0 ¥ s v 3 ;- s \ 700 ene Cananca < minal . % F 1 & Stock 1 3 > : § .2 _one of the spectacul w Aermina e 1 et Ry 3 7 3 pos by h T : the vear, raliad 3t = Bush Term deb : e ] vl ! \ S [a mew peax 1y as Comr n . ¢ $7, | Rp TR i it i v TR d . : . E S ~ i g x o BN Nost of L06 600 ¥ & fun Ming 200 4 Goodyear TER ptd N N Y Siat ¢ 3 E PIGEN. G - 3} e R oo 2 Seeam 1t pfd T 0o e 6 per cer : ; » 1 { Sieam nid . 400 ot Keishoard e 2 1 . se 30R 'y |\--- e 6 per cert i ¥ "2 Goth Silk H e nid 4 3 Niag Lockw im‘} we BN have heer » ket G North V. pid oo N7 p 5 s o 2 ! 744 QLo B ¢ AR = Forelgn Bxchanges Mived i ; 4 b &) North pt ctfs, i [ Am il Jo0 3 3 $ 3 Special strangth Al was showm . 2 G Weat Sigar T Narth W nhd, 6o P ¢ gy i, N frst i B4 O Woal bucar o : ; Jorth Am B o, ! 3 & it } i Steel, General Electess Yot it 2 : HENRHIR e t Viren : : 3 \ A e Ov. Ul Giinntgumo % pli T Mk 1 W b 8 ; . o Y . ity ISl / : ] i en wia i SO i Pon, o ) o i Nrein ooy by ko 2 b AR R N i . tord ik : RN . : e areun IR i it TR X b Oanes At 38N cents Walk ot A A Rallah ‘% Weekly el s stal ot Wil et ura § 2 .’-,MI s A Rk By | Ment shownd @ deficit W tesetve av y ' outlet 0 o 1 (R ? $1 0 I’":" " :"“ A 1 400 ¢ + " b Ry pt 1t Outlet Co pid LT ™ sregate veseive Al $Ras a8 Gonaindend L0t 01 D00 | Hare Vit bt 5 ! Owenn Bottls Ca 100 s \ $ The detaiied statoment of actwal o 1 Covio Corp 5 on Vuyes Wihent ) ¥ A » il To0 Y dian this Gy showed an ncroase Clandies 11 Mol % o~ el ; Y o . ! SHENIO0 M Rans, dowounts i Chand 1 Ma TRET T Wl gL 800 g . . : hans a Paund Ll Mot ptd. B0 ! 3 & s S RPN 1L iavestments and saine o $331488 i | , e 200 ~ Ao e ! U demand depasits and $20.338 000 moou WIGGLY SALES 913 Chuce il " A GG ) P 1 {{\‘::‘l B - 1B Y :t:‘f""; "“.:.‘;u N thme depeaite CROM WA SRCRG .‘Optimistic Forecasts by Py 4] 4] £y bk (1] Trade Experts and Heads One of Factors. N @ i ARRRY] s Associated Press. \}.\\‘ YORK. Decembder 31.—Up- ce tendencies today e.uu‘e e closing session of ck market. Pr\“.(«:fln. U out slight recessions here and there, but final quotations were el erally higher, severa! gaims running WX §5F PES [ERREEAR rE Std 0 ot 3 LeeiE sales for income tax losses were smaller| aal on the last day of the N they were scattered| mber of issues. F sz Heavy ) kil e Chat Phos i i i AN Gas \ o YOI, December A Chny Wil o : o004 R 3 S S ronped $10. 590,000 Ak tewarve i il v y Ja ] f ! | i N \ 3 \ Pdderal Reserve Rank of w 3 Bk showed A shrnkage of % ‘e & O 0 40 ELVRUO SEATS SALES FLURRY. NEW YORK. Decombder 31 (B Talk of Al overthecounter Aruae fiuu»\ln : [ for uniisted securition an the S Faan R a2 | the Now Ywrk Produce Exehange 108 T .\‘. % i N [ Hvenad transactions e q X 5 \ o PR . : oW | the Bxchange teday in whieh ) 3 10N [ fvum $2.300 te SAM0G The Sekind wm .\m\.. WY % LR SR N - \\.l:n«: of 8 I e p.:nq.ai-‘. —— ok Agv wmea! Ship was \ “ IRTEN by pering -= 2 DA B! Na m»\.fi EASTMAN DILLON PARTNER | it | EW YORK, December 81 (8pe | 1! i ani o0 ety ~aetinan I0on & Cr snnounce Tna & Lo pid 4 00 i e e ot 3 174, fil Cont 121 wagiemion of Emlen M. Drayion se ] S " & Con | 537 Py 7 I 0 I P i e nidian Mot pid 700 2 b Tudian et ' \ b e Wl o ‘m‘ M e rsiie 14 2 ST P = =y Figsiisdss 5o Cpe—es gerer Pariner n Keiley, Drayton BAIINS e s & rimkar of Sy ok | ik Exehange Vastofsn Dillon Yo, &on D fotian Co. now have \wo representatives o | ¥ 200 > i wh Jodian | the exchange, the olher bing Thon b 95 1id: §40 P . Lartiner