The evening world. Newspaper, October 28, 1921, Page 36

Saiaaneecmeemae i \ 110 TO 11. Whe decision of the railroad brother- ‘hoods to cance] their order for @ general strike, while not unexpected by Wall Street and while having been partly discounted by the rise in raflroad stocks late in yesterday's jon, had a highly favorable in- ence on the stock market this Morning. On a greatly increase Yolume of business the rails in the first half hour of trading rose for gains extending from substantial fractions to well beyond a point, while in equipments, certain of the oils, electrical shares and numerous speciaities similar advances were registered At the end of the first half hour of trading the rise in the market was opposed by an clement in the “Street” who arc of the opinion that the strike settlement is unsatisfac- tory in that it does not by any means settle the wage problem and that within the next six months friction is sure to again occur, These interests argue that the unions have won an important strategical victory, that rates will now probably be reduced by the In- terstate Commerce Commission and that the outlook of the carriers is not so propitions as it was before the Chicago conference convened. But this was not the view of the real makers of markets. Before the end of the first hour of business the forward movement in prices was resumed with considerable enthu- siasm, and leading rasis and indus- trials were able to establish new high marks for the morning. ‘Unless the weight of financial opinion is wide of the mark, labor unions as a whole have been administered a needed object lesson, one of the main causes of business uncer: ‘ tainty has been removed and ther fs every likelihood that there will now be a healthy revival in in- dustry. Buying of copper, equip- ment, electrical supplies, ol und so many other important commodities that has been held up pending the outcome of the railroad labor con- troversy is now expected to be re- sumed with increased vigor. 11 70 12, The market continued active and! strong throughout the second hour. Transactions to noon amounted to 00,000 shares, which was at the rate of 1,500,000 shares for a full five hour session. | American Smelting went up 27-8) ints, Sugar, 13-8; American | riting Paper preferred, 13-4; | Anaconda Copper, 2; Baldwin, 11-2; Bethlehem Steel, 2; Cructbl 2; Haskell & Barker, 13-4; Pul man, 2}-4; while in the railroad | group, Union Pacific, Great North- ern, Atchison, St. Paul preferred, | Rock Island, Reading and New! York Central all went up from 1 to| 2 points. Atlantic Coast Line and| Chicago Northwestern both showed net gains well beyond 2 points. ‘United States Stec] sold at 81, a new high for the present upward move- ment. It was the most active stock ‘on the list. | 12 TO 1. —— The market continued active through | the noon hour and practically all of | the gains in the rails list were main- | tained, while many of the industrial | specialties were able to push up| into high ground for the day. | Money renewed at 6 per cent., but| @hortiy after the turn of the noon } hour was reduced to 5 1-2 per cent. | There is hardly any room for doubt but that expectations of a further lowering on money potent factor back of the cheerful- Bess the market has recently dis- played. Copper stocks came sharply to the fore. ‘While the railway outlook was so aminous copper buying came prac- tically to a standstill. It is now believed that the remaining sur- Plus of copper metal will fast be cleaned up, and that the resumption ef mining operations on the part of the large producers is not far dis- tant. TTo?. As was to be expected considering the extent of the recent advance, profit taking came into the market @vring the fourth hour, but, thanks in part to a reawakened public de- mand, these profit taking sales as well as fresh offerings by the bear crowd were quite easily absorbed and the tone of the list remained strong. Mexican Petroleum, in spite of the favorable developments in the com- y's affairs continued to be heavy Independent oi] shares were among the market leaders. 270 3. ‘The market showed such impressive absorptive power that in final trad- ing the bear crowd switched their position and many of the leaders in the industrial group went up to new higha for the day, including United States Steel, which sold well above 8: There was brisk buying of the lead- ing motors, with Studebaker lead- ing this group. United States Realty and Pacific Oil sold at new Bighe for the month. Rails ruled rates are a/| It has been decided by the manage- of the Gillette Safety Razor Company to distribute stock dividends | to shareholders from time to time in addition to the regular eash dividends. | ment On Novy. 18 stockholders will hold a! special meeting at which they will be asked to authorize an increase in| stock from 250,000 shares of no par value to 500,000 shares. Following th authorization of the increased stock, | directors Will declare a stock dividend | of 10 per cent, payable Dec. 19% to shareholders of record Dec. 12. i Reports of a me:ger of important steel companies will not down. With clock-like vegularity they have been circulated in Wall Street every three months for the lant five years. “At one time such a merger was taken tp in tu serious way by several of the inde- pendent producers, but negotiations fell through. Banking houses which have always scoffed at the probability of such a merge: taking place now believe that there is better than a remote chance of the Youngstown Sheet and Tube Company, the Brier Hill Steel Com- pany and the Lackawanna Steel Com- pany being merged, and that if the merger becomes effective, it will also include certain plants of the Midvale and Republic Companies. It is said in quarters in a@ position to be well informed that negotiations with this end in view have been taken up, b have not gone beyond the tentative stage. Although the Reichsbaak etatement published this morning showed that during the last weck 416,000,000 xddi- (onal paper marks were put in cir- culation, and that the total issue of marks now stands at 88,144,000,000, a new high record, German exchange was firm to-day. Marks were qnoted at 56 one hundredths of a cent, an ad- vance of 11-4 points over the clos of last night. Because of the general improvement in the petroleum industry all refineries of the Sinclair Oil Corporation haw been ordered to operate at full ca- pacity. Figures issued by the St. Paul Railway show that while in the first Ine months of 1920 the company had a net operating deficit of $20,- 122,000, in the first nine months of this year there was a surplus after expenses and taxes of $2,570,000. The Rock Island system is one of very few that has npt shown a de- crease in traffig returns for the cur rent year to the end of September. Its gross earnings increased $910,000. And what is mote significant, earn- ings available for payment of fixed charges increased $13,101,000 The McKeesport Tin Plate Com- , the largest of its kind in the . on Oct. 31 will operate all of its forty-four mills on full time. At present twenty mills are in operation. Expectations that Federal Roserve rediscount rates will soon be further reduced, possibly next Wednesday, have been strengthened by the con- dition statement of the system issued late yesterday. It was shown that the reserve ratio now stands at 70 per cent., the highest in more than two years, Just a yéir ago the reserve ratio of the Reserve system stood at 48.1 per cent. In spite of the exceptionally poor conditions existing in the steol indus- try during the first half of the year, for which period most of the steel companies reported commodious de- |ficits, the Penn-Seaboard Steel Com- | pany’ reported to-day that on June 30 {ts profit and loss surplus stood at $4,400,000, compared with $4,916,000 on Dec. 31 last. Up to close of business Thursday holders of nearly 75 per cent. of out- standing $18,000,000 Cane Sugar Cor- poration acceptances had indicated their willingness to have them ex- tended. This “ie about all that is necessary. as the remaining 25 per cent. are to be paid off in cash. Ac ceptances fall due about Oct. 31 and the plan granting the new $10,000,000 credit is expected to be declared op- erative in the near future, or as soon as the full 75 per cent. are heard from. LIBERTY BONDS. Liberty & 1-21 opened 92.64, up .10; Ist 4 1-48, 98.80, up .20; 24, 92.68, up 04; 84, 94.94, up .04; 4th, 92.88, up .04; Victory 3 3-48, 90.66, off .02; 4 3-45, 99.58, FOREIGN EXCHANGE OPENING. Sterling, 3.911-2, off 11-2c. | demand, .0732 1-2: | off .0002 1-4 3.9 cable: Frenoh francs, cables, .0723 1-2 Lire, demand, .0392 1- cables, 0898 1-4, off .0000 1-4. | francs, demand, .0709; cables, .0710, | off 0001. Marks, demand and cables, | 0056, up .00011-4. Greek drachma, demand, .0446; cables, 0450, off .0005. demand, Belgian within narrow fractions of the | S¥is® francs, demand, .1828; cables, highs of the day and from 1 to, :1880, off .0010. Guildere, demand, rly 2 points above yesterday's! .8398; cables, .8400, unchanged, Pe- fimal figures. The tone at the! setas, demand, 1328; cables, 1326, oot close was strong. | .0005. Swedish kronen, demand, .2290; Foreign Exchange rates turned de-| cables, .2295, off 0006. Norway kro- cidedly firm in late dealings. | nen, demand, .1810; cables, .1315, un- Wheat closed with a gain of two changed. Denmark kronen, demand, @ents a bushel. On the other hand | 1895; cables, .1900, off .0020. cotton encountered profit tak: oN = and in the. final. trading. showed af oases of about 10 points IRON AND STEEL TRADE ——— STARVED TO DEA With $1,400 in a HAD 81,400, vings bank tn SHOWS MARKED GAIN ‘ “i THE EVENING WORLD, F ; » FRIDAY, OCTOBER 28, 1921. arg es tam, Last. vat) cannot be worked for several” ead ays. 4 Dmptre 0 & deme wn thy | Disht miners worked at the ming” 1Quf ov 6s wom | Yesterday, Late in the afternoon’ a~* ot Humble ot! | group of miners appeared at the 3 Kennecott C Ts 164 | plant and demanded to know why . ‘2 Laclede Gas Ts . 99% | the men were working. 8 Idbby MoN & L Te vt “Because we are hun the Nat Cloak 8 83 w2% | Working miners were said to have i tame ts vu | fold, the, marchers. | Sheriff lit % uld is In possession of t : Mih. Low, tas, one fis, tom, tan, ouee, | “A High, Low, Last. Shares Be, tov, | oe 1 | Of several’ of. the Marching. -ninore ny 1M HG + MS Nolte Weun., 6m oe INDUSTRIALS. \ 2500 Meridian Pete 8 8 8 160 Baila 00 6 88%] and an investigation of the dynu- rer ¥ 7 Netilk & Westie. 96K + BL t00 arme cont nok OW 00 Merrie 1 ey 1M 8 Philippine SY4s % |mitine i in progress. LCR. a ie Nerasks cae ‘s) cioo Acme Packing ge 00 | (8800 Meaico Os... Mh fe 20 RF Rernoids 100% —— —__—— Ais Chaloner 7 ome P 100 Amai Leather + 10 « 16 | 900 Mountain Prod. te 5 Sears Roebuck Ts 33 | 9% en Agr Chess B14 bis 2% | Orpheam ofa 300 am wrt A Wu) OR a 1 Deere em 9h | __ BANKING AND _EINANCIAN rd i Se ey wlan m 1800 auitub tH oi) 1K | 100.No Am ol 141% 24 Shewsheen Ts 28% re Mm 88y 06% + [Oneme Bottling 800 us so 30 204 | 2900 Omar O11 % 9 69 Southwest Bell Te 90% | a me Sh RRS tla cu 1100 eat c i t,t 65 | 200 Ryan Cons... Om 8M THON Y Ts 265 108% \w 2% «ot My + 1%] Mectfic Ot 700 Car Light. seay 8 1 lt nd ue be) Prod. 13% 18% 18% 280ONnyY 106% H 1 \ % ‘ ‘an 6 600 Chi Nipple ” 3 apulpa Ret 3% 78 ia ain it dat limexeeve B 2% 00 cme Sant ih F toll hl ost Sima Pa ia it swe OW wel posted ‘Am Cotton Ot 19% 19% 194 Penn ROR 6 100 Chls & Bast Til ot of | Ue ebay On % | 62 sun : su | are you Am Bere 1% 19% 180 4 Bean See'vid Stee 108 i OME Siena cree uo out lim Ta. Seth & Os Te 38 «. 100% | yor eat wo 8 Perple'e Gas at beasts i : 1 Bwit: a. aot wie hearin ieee Sane + Mot 24% aig | 800 Tuckeny OU... % 61 Mi Getic ie on dividend records, Am Ice if 1 Phila Compa : “eee 1 8 | seo yo mie OW IN rl 90% earnings, and profit Am Internationa Kis 85% 4 aM | Nipe Pere 2000 Farrell Coai m4 18M MINiNca Hea Pi evidences of stocks mm Lanseed Oi 2M Pierce Arron "9 Gibson Howe Wy 138 Heer on traded on the N Ain Locomotive M1% W&M Mletce Arron | Hava 1% 384] 2000 atas-ne cor... o 6 0 6 Vacuum Ol 7s 104 RCN ST Allied Chem 46% 46% Tiere O0 : HOV GHA AIM Bel " 7 | 6000 Big Ledge Pr 1 oat 15 Wemem Blee Stor 161 1083 York Curb Market ? ia cde Meee, ie dae | Brenemo s : he sh 434% | 19700 Bow & Mont en FORRIGN BONDS . ae eae it * ‘Pitts & Wert Val. 24s 00 Griffith DW gn | (2000 Calumet & Jerome . 1% 36 (18 40 Argentine 8s see 9% Dt 89H Yow shobid read the m Smelt & : 4 Creek Com 14% 14M +. Gebdterden Chem ty | 2002 Copper Carron mot 5 Russian Cige Nal Am Snialt & Het pl 784 75 6 Prowsod Stee! Ca stearic 1% | 1400 Corer Stiver 81 28 Swiss SUS nesses official 40-page book Am Sugar Bie 54% 8% + Ate Sus {neo Lieeela aietan §% | 500 EL Salvador 1 15 Sa ame es Dae ‘America’s Amn Sugar pf 784 Th 1% Pare Oil ee aa i : ® | 22000 Eureka Croesus Sec Atm Tel @ Tele... 108% 108% 108% — ts | Hall Stee! Spr Re ARN eaten SE | 1000 Gotareia. Foreace eo 40 iceacitltaotes tock Market Am Tobacco 120% 125 120% 410 | Ray Comer +h Sach a Pal 6% | 1000 Marmill _D ny Am To om Bio. 1M MW I~ + 1%) Headirg Daa Kia gat | 400 Heate atinine 1% Me totals Ata LLL Ni We will give a copy without Am La France... BM 9% Bit | Reading 00 Radio Com P4 900 Howe Sound oN Mi i $1 Am Haditr Ts.) 6 TEN TOM + 4%4 Relogle 1300 Raafo Com 2 | see dumbe Stenson et be al ethay jf obligation Ask far BW-503 Am Wool 17% «7H, TH+ Hoy fron & 300 f nelle ne 200 Metniyre PITTSBURG, Kan., Oct, 27.—The, Aa fae ere ak ak OR) [ Retanle sone Southern Coal & iron. 3 1000 MeSumara Cresent i, [Gray Wolf Mine, near Gross, Kan..| B hace a east lie bok 88 1) Standard Mer “4 es SORE cop It, |Wwas wrecked by, two charges of dy- ONES & DAKER Aim Dy ian oi MW va, Blewe O: +100 Swift Internationa . 1800 Motherlode Ck s3,|namite shortly before midnight last | moc ato 104 104 4:4 Lead ‘ i. Gur A 800 Motherlode oid 8 | night 0 fier | *Atohison Ry 6 8D'y NB StL & San Fran lie BIOL. i sts | 900 Motneriode ew il ees Be ecever ac cae ay etaLell Atlanta Berm & AU 2 Ty StL & Soutnnest Soe ce Sa 00 National Tin. | wrecked the tipple mine and the| Atl Goes Line SOR OH SON FIN | StL & Sout vf Aig Cae . 00 Nevada Ophir | | 2 TU Gama Wet, otic) SOM MAL} | BELO Coe. mama Ry wine ree “ A paeceeesebaat | |§ Three New York Offi 1 : | 106 Wasme Coal. 1% | The Gray Wolf | 1 + reg At Gut & Wi pl oy 4 — 1% | Saxon Motors HO Wad AGORA ce ie in a ie operas ole ceesere | tne 225 Fifth Ave. Tel, Mad. Sq. 1377 Atlantic Fruit au ety (Seaboard Air 1 4 : 400 Nipissing 54| Damage was so extensive that th 60 Broad St. Tel. Broad 7160 Raldwin Loco u1% 9077 + \ Seab’d Air Line of “ STANDARD OILS, 3100 Ophir Silver 605 Fifth Ave. Tel. Mur. Hill 7120 Maldon taco om Oa fay | Seaia-Hoebiien : 56 Anilpeasn Gilles | 500 Pitts Mt S .. wit ke Oni ar) aTy + 41 Sen ‘0 % ‘Atlantic Lobos 1500 Ray Hercules ....5 eth Steel &s...... 100 100 1%, Snel Te T.. 2's | 1400 $ O11 of Ind. 3400 So Am PK G .. Beth Stoel B 1% 3S i, + ats | Sine sald m4 i 108 Ol of NY 100 St Anthony Booth Misheries Wm OA aM | Somat 1) foevaruiin’ Gil 200 Tonopah Belmont. rice reggie aie HE ab seethen vai ; eee OU AL 100 Tone Did Salt Creek Prod. Cosden & Co. ini Hip Tr Ab, ‘Southern Ry TWAT eae 100 Tonopah ° Uklya Union Gas ea 4 oh Boone Oi 300 Tonopaa Min 9 rant | tag | 1000 Moone On oo So ome Midwest Rfg. Internat’ Pet. | urns ron i ui 14 900 Carib Synd ee “yas giad | Ninercon a ri Naty wens pi a 109 West End ¢ Boston-Wyoming Elk Basin | Bitte & Suserior Ye) Na Giles Gertten olds. val ae . Harordale B Ve 4. Y ar ; pe \'syo0 Creole Sendo BONDS ta on i sepamne in tienen or Mountain & Gulf Simms Pet. allt. Peeroibian a ieee See Mee 10 Aluminum 7s 2 99% 99% | nalitede ae Apleons: . 1 Mik Basin Per 7 Aluminum 7s wis 90% 29% The abovenamed group are vitally affected by the recent changes in | Gen Pacific ot i & Pacilic 's vai bee - ts «1017s 101% exude oil prices. Our specially prepared pamphlet cogently outlines | era header Bre bien a ‘ baste toy hot in Tel Sr ey i * ew these new crude oil prices will immediately affect their resources. a seeee ) Gititend IT “4 otra ables 41 won" Vil i 15 Anglo Am Oli 1 102% 102% Garlalhiceen (tea ‘ Unien Rag & a4 Hy 1 Armour & Co 7s ...... 10% 100% Write ter copy tedey. ‘Oba ndlnblaloeetars ++ ‘ U ou. ‘ol 2 Beaver Board? 8s 0% 60 Ges A) GbIb, css Union Pacific i 5 Cont Steel #6 AL 0813 08% Gok Ae TRG 1) 1 United Atloy t sR poioen) alssige 2 Cons Gas $8 100 100 chien. ' United Drug 0% + %| doo Livingron Ons r) 1 Cons Gas Balto 7a uN 62 BROAD STREET, NEW YORK Chi Gt Western + United Fru + Me . 300 Livingsion 4% 2 Copper Exp 8 23 101% phone Bread Gat Gt Water t: £ Denitet Food Prod. 134% % | G00 Laos ete poet Exp 24. 101% PER Se tite Ob & Nor Ry. O04 #14. 0n Ry Inv Co pf 102% Sremes OS cee ceeding Ciuee ange’ nar TOME ium Retail storea 4 Ret. Dicoot Wires to Various Merketo Chino Copper . Bh + U 8 Ind Alcolol . Cin, Chi & BL 44 US Reaty & Im» Chiett & Peabody. 44 US Ritter + BANKING AND FINANCIAL. BANKING AND FINANCIAL. Coca-Cola we gy US Mabber ast vf ——o—oEeoaEeaeeaeeeeeeeeeeeeee ene 7 US Satter e Col & Southern eh 8. Steet Cot Gas & + YU S Steel pf Columbia 4 | Ura Capper A B k Ss Comp, Tad & Rec 14 1 Secunitin h: M. W. Comoi Cigar TR vessaion Seal ank Statement that any Man or Woman can Understan Consol] Gan ms Va tov, Coal& Gobo Conso| Textile 18% Ye | Viraudow Con Inter-Cal Min 4 Ye] Warash Cont Can “4 Vie! Watbash pf de - Coot Insurance oy | Weet Condon i Fats Ma Corn Products Bay sa Com YProdicta pf... 107% span Oorwiul nm Crucible Stee! Unier ' Cuba Cane Sugar. | Went Alebrake ood Guba Cane Bacar >t 5 | Woeinebouse an Sw) Wueel & LE. ee Peter oe ‘ NEW YORK Del & Hudson . + 1 White M 36h ‘* Del, L & W..... 107 + Ml white on 1% + Dome atin 84 1 18 — 4 | Wichnire 1 10 S f enor Cos 1955 19% 19% Wiliyw-Oserland | 6 te O b 1 ion cate Oba: <p cooly tall Memeo : tatement o ctober 1, Bee We 12K +H Liber & Co e let p 18 % 18% + 14 | Wisconsin Centra pe 6's 1 Th | Brio 2d pl......, 12% 12%* 12% + % | Woolwort) 120 119% «119 Ow De i Famous Players... 06 8 84% + 1% | Worth Pump WM 4d ay + % e Bai es to positors ® = ° e ° $197,119,192.76 Fenow Plows ov. 1 1 7 + 4 Saeed ‘Total miles, 1,040.0 A conservative banker always has this indebtedness in mind, and he arranges his wibber u% 1 + & = = = _ roeod Sew Pel are erect) assets 80 as to be able to meet any request for payment. Freeoniy MX 14 MM 4 A] BANKING AND FINANCIAL. | Goo Aaa i HTM TH For this Purpose We Have: neral Cigar... 58 38K OS8K | . 3 General Blrotric .. 184 180% " & Attractive | Genoral Motor... 10 9M, = General Mot os 4 8 + Dividend | {1] Cash < @ @ 9s Be © wi te oe =$3995146,579.15 Gan Glee ea a pe : Gold, Bank Notes and Specie} and with legal depositorit Gen Motor &. x me! Paying Stocks | {! pecie} gal depositories returnable on demand. J Goodrich pt... 7” ‘We believe the time is grow. Sate Mig 10 ing. shert when tpecahtios to ||| [2] Checkson Other Banks . . «© «© « 15,441,125.47 Ge er one dividend paying stocks can be |] Payable in one day. peat ees “ secured on an ettractive basis. | ore ee ee it bay Saki , selected five | [3] U.S e tS ie Tamell © Barkers, 11% ing New Yor . Government Sec , Houston 0) Ole a ee to busi a CCU Hes © : . 58,210,372.28 Hupp Motors 1% can to take : Anon a ri 4 i 5 ‘ Ig em fat dw renin {4} Loans to Individualsand Corporations . . 33,346,349.06 ‘apparent Inapraion Cooner, 68% the tum for the better heaped | Payable wheff'we ask for them, secured by collateral of greater value than the ey oon Oo nity actin foans, . Inter Harvester A careful and carpedeble study, Inter Motor bes wr price ory for 197 tnt Moe 22. and 194. ‘dividend yiel! at eur. {5} Bonds . . . . es cet ce 21,369,032.31 ee Palle lapel rg aol Fsced M Of railroads and other corporations, of first quality and easily salable. Inter Nickel ... ( coun a requirements, etc.. of the following tetund O8 + AMERICAN WOOLEN {6} Loans ~« + «2 + e« @ -«@ sonal ‘oe ENDICOTT JOHNSON fees eg? Sonel Tee of NEW YORK CENTRAL Payable in less than three months on the average, largely secured by collateral. Kansan City 80» PENNSYLVANIA : Kou city Bo of. UTAH COPPER {7] Bonds and Mortgages and Real Estate AD airs 877,656.50 hay aaron. : Returning sue , cent. if ¥ a ee purchased —ovtright about + Keuaee Te intte one l comet {8] Twenty-four Banking Houses . ry A fs 3,884,036.91 Lackawanus open eecount. All located in New York City. ‘Le Ruboer & Tire, Copy free upon request. Lehigh Valley rm rept) McCall, Riley & Co. sees 4 Call, Riley & Total to Meet Indebtedness © 61 © © « $214,325,379.07 Lott, Ine Stock Exchange of New York. Wites A Leas & Nash .. Lime Loco. Mana Sugar Man Elevated Man Shirt Martin Parry May Dept Stora Mexican Petervloum 100% Miam: Oopper Midklle Stains OU. 14% Mido steal » Min & St Loge. 8 Mo Kan & Tex 1% Belfast, Me, Herman Tamm, whose | Omly One in Thirty Industries Mo Kan & Tex pt. 3 brother werldes at No, 838 Quincy Of During Month, Me Pease 20 1K roo! Y. Mo Pacific Me farvation und expomurs, “Ketordigg | PHILADELPHIA, Oct. 38.—Business| stom a a oe a the decision ‘of Coroner Gibeom |*Mprovement in the basic industries, | Mulius Body MB MH BH + 74 wi unk in @|iron and stee!, was marked during Octo-| National Aowe .... 13% 12% 19M + 1 aoe ee a | ber, according to the bueiness report of] Nat Enam & Stp., 42% 41 e+] k book on |the Federal Reserve Bank, made public] Nereds Conao! 10% 12% + the bank | here to-day. a otexs » oO One out of thirty industries reported | \ , ni! DB. ht 4 |a decrease in volumd of businggs for|Ny Nn @ ii... 4% 1 iN XY One West, 24 10 20 Broad St., New York one Rector 2101, Phuusdelphia: Harrisburg. DIRECT PRIVATE WIRES, {9] ThisLeavesaSurplusof . . ~- «© « _ $17,206,186.31 Which becomes the property of the Stockholders after the debts to the depos itors are paid, and is a guarantee fund upon which we solicit new deposits and retain those which have been lodged with us for many years. to Investors How to Figure Margin Fully explains marginal trading, equities, short tales, odd lots, ete. Write for Bt «| or call Whitehall 763 [Edwin F. Kohn & Co, Members Consolidated Stock Exchange of New York Our listed resources, enumerated in this statement do not and can not include those assets of friendliness and helpfulness which this bank has in the personnel of its board of directors, its offi- cersand employes. These are assets which pay dividends to our patrons in service and satisfaction. The Corn Exchange Bank Supplies Banking and Trust Service Through Its Forty-six Offices Located in Greater New York