davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
STOCKS SHOWED
MORE RES|L|ENCY
Surface Movements Uncertain,
but List Quickly Stabilized
Itself on All Declines
RAILROADS WERE STRONG

Nan. \o-,x Feb o-Tho New York
r-,,cninc Srn's closing financial review
tod,t. sors.
g. for ~ surface movements were
concorncd tho stock market at the be-
c;nning of rho new week displayed
Con siJora hlo uncertainty of trend at
t;,,Ics hrt tho nricn list over stabilized
;tse1f rot far from the Saturday clos
;nr Level when trading became NOR,
thop usuoIlv dnlI
Thore was some show of strcngt'
at the oponing, but after the first iif
teen minutes or So sagging tendency
was in evidence which developed into
declines of as much as ! to > points
in many issues in the second hour.
The bears Strovc TO utilize eXpecta-
tions anent the stock dividend cast
pending before the supreme Court -
Washington. That tribunal. however
did not hand down any important dc"
ciSions bctor" taxing recess uhlh
March l.
The fact that the cniet Justlcc hau
announced last MONDAY that su'h 4
recess would be taken beginning ioua\
CAV" an additional handIe LOT lhe pca' ;
~ grasp as leverage 10 pGSI. P''v,0
down. as the case mas peen oelorc lne
court Tor many Weeks now anu Nv
riSion untallngIy looked lor cach hoH
/ day. since ana, ot course, II was hot 'n'
slightest tax on crGdu,ltI TO suppose
/ that the matter mlGht pc nnTrlsu ",l
/ bit III order to dispose ot II pclor' '"'
/ prolonged adJourhm'ht'
Nlth the assurances t1at SI'ii N"'
not to be- thN STOCK lISt ShoWTu 'nu,J
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
STERLING AT NEW LOW
British Pound Quoted at $3.45Ia in
Market for Foreign Exchange

New York, Feb. 2.--Anothcr low rec
ord for the British pound sterling was
made today when it opened at 3d.
or, one cent below the previous low
reached twice last week.
Later sterling dropped to S3.4I a..
French francs and Italian lircs also
made new low records at 1897 ana
1897 to the dollar, respectively. Marks
were quoted at ! 0S cents and Belgian
francs at 1850 to the dollar,
In the carly afternoon, new low
records for all times We're established
in the allied exchanges. Sterling fell TO
q. 46t:. for demand and 3.llst for
cables: lire cables fell to 1876 aud
checks to l5.97 and franc cables de-
clincd to 1873 and checks to l3'oo'
Marks sold AT III.
The market continues to show wlI'
variations in quotations in carly trad
ing by the various bankers. In one ease
there is variance OF 16 cCutimes IN inc
rate for BcleianS. and quotations ior
marks were } points apart
Early quotations were: go,
Demand sterling, 3.4D"l, cables
3.5O1a: frauc cables, 1894, checks
1896; lire cables 1855, checks 15,6I
Swiss cables j.71. checks 5.13 guilder
cables 317s. checks 37$i pcsctas cables
1895, checks 1890; Stockholm cables
1880. checks 1875; Christiania cable
II go, checks II ,45; Copenhagen cables
1000. chccks, 1885; Belgian cao'et
/ Is. -. checks 1870; marks, l.2O; Aus
! trian kroncn, .3G.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02

DEADLOCK IN THE LOCAL
MARKET STILL UNBROKEN
Excess Reserue OF the Clearing House Institutions Reduced to
Uncomt mtortabIy Lou LeUel

In looking around for plausible ex-
plantations for the pronounced contrac-
tion of the volume of dealings on the
local market, 1t is not necessary to go
further than making only casual
analysis of the weekly Philadelphia
Clearing House Association statement
1t likewise will supply ample reasons
for the existence of tight money market
conditions, and furnish ample proof of
the scarcity of funds, not only for stock
market purposes. but in general bust
ness as we'll.
The entire answer is to be found in
excess reserve above legal requirements
of only 1854 900. This is close to the
lowest notch in reserves of the local in
stitutions since the operation of the
federal reserve system. 1t conclusivcly
shows the dangerously thin ice on which
the loaning institutions are skating, and
also the necessity for the application
Of the drastic steps already taken by the
Federal Reserve board.
A closer examination of the state =
ment makes the showing even less ia =
vorable. Apparently the member banks
found it necessary to extend their Dor
rowing from the Fslcral Reserve Bank
considerably, which is suggested in the
increase of 81, 265, 900 in loans and dis
counts in the weekly statement. Such
expansion in loans, in view of the
knowledge of the curtailment of bank
credits in all quarters. could hardly be
explained in any other way. The con
traction of credits now being enforced is
partly reflected in the drop of $13 ,S62,
coo in individual deposits, while the
active interior movement of funds is
shown in the falling of of $6.122 ,O0C
in bank deposits.
Such an exhibition offers little com
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02

fort for any immediate material easing
Of the current stringent money market
conditions. On the contrary, through
seem that further Tightening of the
with the accompanying drastic curtail-
ment of credits.
Today's local stock market like most
of the immediate preceding sessions
was u dull and colorless affair. II was
market in name only, as the major
portion of the dealings were of a dis
tinctly perfunctory type. Price move.
ments were confined with the same ia.
milar circumscribed narrow fractional
limits, altogether meaningless.
Here and there through the list dcs-
ultory selling was in evidence and
more noticeable in Philadelphia Rapid
Transit and Lake Superior Corpor-
alton. The former yielded to 24h. or
within ls of the low price of the move
ment. Lake Superior dropped back to
20H on selling that had the appear
ance of impaired marginal accounts.
Pennsylvania Railroad and Alliance
Insurance Co. warrants were the
stronger spots. Good buying continued
in Pennsylvania and nearly all the
seventy five cents dividend. which came
off today. was resained. Alliance In :
surance Co. warrants on small dealings
established n rev top price of 6Ss
Northern National Bank warrants were
better supported and were pegged al
2Sh. In the Philadelphia National
Bank warrants trading showed signs of
tagging. There was, however, spread
of S3 on much reduced transactions be .
tween 165 and 16S. United Gas I'm
provement made some show of strength
at the start, but failed TO hold the gain,
Philadelphia Electric was firm at 25A
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02

New York. Feb 1.-The growing
mental confusion among the professional
trading contingent. and the sharp di-
vision of opinion regarding the general
situation were both forcibly exempli-
fed in the conspicuously unsettled price
movement i'll today's stock market. In
tuerces which recently acted as check
to the market were again operative.
Further weakness of international cred
tlon for the London rate, was accom- =
panied by statements emphasizing the
probable effect of the exchange situation
on this country's trade balance.
Little comfort at the same time was
to be derived from Saturdays bark
statement. On the contrary, all iudi-
cations pointed to another week of tight
money, which was confirmed in the
opening and renewal rate of II per cent
for call loans The tension of the
monetary situation was further EN- e
phssizcd in the difficulties experienced
in obtaining time loan accommodations.
1t is understood that considerable
amount of term loans mature this week,
and it was intimated funds available
would provide for about only 20 per
cent of demand. This would mean the
borrower would be compelled to tird re
course to day to day renewals in call
money market.
Over the week end developments, il
anything. contributed to intensity the
confusion already existing. particularly
concerning the peace treaty controversy
and the railroad legislation. These
factors. however, while unquestionably
carrying considerable market influence,
were entirety cciipsed by the acute do
mestic and international money sttua
tion. Wall street, of course, is keep
ing Il weather eye on Washington. fol
it is reasonably certain something big i:
going to break loose soon.
The market started with show oi
strength at the opening with the mi.
tial prices generally higher. In sev
! cral divisions. such as independent
stecls. equipments, motors and oils
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
LEADERSHIP LACKING
IN MARKET FOR CORN
Depression in Foreign Exchange
and Setback in Cash Article
Discourage Bulls
GRAIN BELT WEATHER FORECAST


Chicago. Feb. 2;--Illinois. Iowa and Wis;
consir-Part cloudy and colder toniEht and
TUESDAY; Missouri and r. Kansas-Sloudy and
NoTth end 'SEf onh ao Snd sSd
orally fair tonight and Tuesday. Nebraska
and Wyoming-Cloudy and colder tonight
Tuesday probably fair.
Chirago. Feb. 2.--Thc corn mar
kct was unsettled today. but trading
was not extensive. aud leadership was
lacking. Acute depression in foreign
exchange and a setback in the cash ar
ticle discouraged bulls. Commission
houses furnished support on breaks, but
pressure was encountered Oh rallies. \
cold wave was predicted for the West.
suggesting further hindrancc Of the
movement.
Country elevators were said to he
full of corn. but lack of cars and mo-
tive power is keeping grain away from
terminal points.
Fears that the area to be devoted to
grain this year will be cut by scarcity
of labor and dissatisfaction among
farmers over their profits continued to
have an effect on sentiment.
Oats turned heavy after displaying
| frmncss carly. The market showed no
snap. The East was IL seller. and iocal
longs iquidated because of rcSalcs al
cash oats by eastern exporters in tho
West The absorptivc power was not
good.
The export situation is unSatlslactor!
| because of inability to get the grain t.
the scaboard and the bad position OF
foreign exchange. The cash article was
easier. Receipts remained light.
! Leading futures ranged as follows:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
ADVANCE IN COTTON
IS NOT MAINTAINED
Market Quiet All Day-Trade
Buying Induces FirInness
in Late Months

COTTON BELT WEATHER CONDITIONS
New York, Fob. o.--The following tenn
reratures were recorded In the cotton bAlt
this morning: Macon, Knoxville and "A.
gusta. 32; Chattanooga. Atlanta and
Charleston. az Little Rock. 44 Fort
s% mphs ss Psrs,
cola and Meridian 4S; Abilene; shreye..
Galveston. 90. San Antonio and Corpus
Christi. 5S. and Tampa. 80. There was
304 inches OF precipitation of Jackson
vile.
New York, Feb. 2.-The cotton mar
kct was comparatively quiet today. The
rally from the early decline carried the
active months about to 2S points net
higher with late months relatively firm
on buying by trade interests.
This advance was not fully main
tuired, but the market was generally
steady around midday and there was
some covering by people who had sold
early on talk of an easier spot basis,
owing TO the absence of selling pressure
from that quarter.
The receipts of cotton at the ports
for the day were estimated at II 900
bales. compared wit. - $50 bales last
week and 21 lis bales last year.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
CHRIST OR CHAOS-WHlCH?'
Rev. j. S. McGaw breaches DangeS
of RadlcaIism In America

Christ or chaos--which is America
to accept"
That was tho question put by tho Rev.
!. S. McGaw. field secretary of the
Natiounl Reform Association. 10 the
Presbyterian Ministerial Association in
the Withcrspoou building today.
This is the psychological moment
when America must choose, the speaker
said. There are no Christian an
archists, no Christian bolshevists," he
maintained. The disturbers of the
nation today are fighting Christianity.
Prussia is stiIl trying to carry her pagan
political philosophy to all. Today
America is considered a Christian ma
ton. But the greatest battle Of the
time is for the conservation of national
Christianity.
eve must teach the Bible and religion
in the schools il we want to prevent
bolshcyism and anarchy
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
Financial Briefs

The average price Of twenty active
industrial stocks declined O,39 per cent
ON Saturday to 1903. 50. while twenty
railroads advanced 0.J0 per cent to
T4GS.
The New York Subtrcasury lost
S17O. 900 to the banks on Saturday.
making cash net loss since Friday of
S62T 900.
Paul y. Howe. formerly with Lee,
Higginson & Co. has become asNo-
cintod with Graham, Parsons x Co.
New Jersey Zinc Co. reports for De
cember 81. 1919, quarter surplus after
charges and taxes 1878 Az. equal to
81 .64 a share (S1O0 par) on $50, 900,
600 capital stock. against S2,"l3, ,HG9, OF
SO 81 a share, In December, lolS, quar-
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
HIGHER OPENING FOLLOWED
BY USUAL IRREGULARITY
Anoter Collapse in Exchange and Ia Per Cent Call Money
Deerring Factors

early gains extended from one to al
most three points. The railway list at
that time gave no signs of following
un its moderate advantage OF last
Saturday. Later in the morning how
ever. conditions were reversed. when
the industrials gave ground under re-
ncwcd selling pressure, while the rails
slowly hardened.
The opening demand was not sus-
tanned and the same familiar reac,
tjonary current set in before the end
of the first fifteen minutes. The ship
ping shares and the cheaper oil stocks
were the first to give way, represen-
tativc industrials and high priced speci-
alties soon following. Once again,
however. the wider fluctuations were
coufned to the recognized pool and
CLIQUE industrial specialtes. The set
back became more general when call
loans opened at II per cent.
General Motors, Crucible Steel and
American Woolen were the prominent
stocks under pronounced pressure at
mid day. losing to points. Halfway
rallies occurred when announcement
was made that the United States Su-
nremc Court had again deferred action
on several important cases of interest
70 Wall street As the court adjourned
today until March l the traders will,
for month at least, be freed of the
usual Monday morning uncertainty on
this question. go,
Selling pressure. however, pcrccptibly
slackened prior to the disappointing
Washington news aud irregular rallies
began with renewed moderate buying OF
the railroad shares. Another notice y
able feature, and in some quarters re-
garded as a good sign, was the in
crcasing dulluess which accompanied
the declining movement of the morning
/ Indicating the continued absence o
| liquidating pressure. .,
Trading was at a standstill in th'
last ,hour, but the market yielded agair
when call money rose to 16 per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
HURT BY EXPLOSIVE HOSIERY
Vienna Police Puzzled at Queer Ex-
pIanation for Injuries

Vienna. Feb. TRY A. P.)-Police
officials of this city are confronted
With the question as to whether stock
ipgs may be explosive.
man was seriously injured, baby
bruised and a house badly damaged here
recently. The injured man told the
police that while about the house in
his stockingcd feet he had dropped a
lighted cigarette on the floor and when
Inc tried to stamp out the fire one
stocking exploded. TTe said he found
the storkings in neighboring village
and that his wife had repaired them.
The authorities have theory that
tbo nan was keeping in his room cx-
nlosive he had stolen from a munitions
factory.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
IDENTIFY 4 DROWNED MEN
Bodies Washed Up on JekyI Island
Those Of Wrecked Sailors

Savannah, Ga, Feb. -Four of
five bodies washed up on Jekyl Island,
near here, yesterday, with wrcckage
from an unidentified craft were deuti.
fed today as those Of members of tho
crew of a tug, believed to have been the
ocean going tug Fortune, which carried
a crew Of from fourteen to twenty men
Those identified were Jacob Coum-
bus, chief engineer. al Forty seventh
street, Brooklyn; William Mccarthy,
assistant engineer New York city Asa
Jansen, Danish, with a passport from
Cardiff. and Emil f. Carsen, Danish
with a Danish passport.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
GERMAN CULPRlTS NAMED
List of Those Whose Estradition
Allies Demand Completed

Paris. Feb. 2.-(By A. P.)-The
list Of German subjects whose extradi-
tion is demanded by the Allies was
finally approved by the council of am
bassadors today. The council also ap-
proved the terms Of the note to accom-
pauy the list
The list and the note probably will
be handed to Baron yon Lersner, head
of the German peace delegation, as so0n
as the covering letter has been framed.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
Liverpool Cotton

Liverpool. Feb. 2.-Therc was only
limited request for spot cotton today
with prices easier on the basis of de-
cline of 81 points for middling at
27.N6d. The sales were 5000 bales.
The receipts were 1000 bales, in
Guiding 66, 100 bales American. Flu
lures were quiet in the carly dealings.
Spot prices were: American, middling
fair, 33.3Gd; good middlng, lid;
fully middling, 22.11d; middlins.
2T.S6d; low middling, 25.3ld: good
ordinary, 22.36d; ordinary, 1.3Gd.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
MoNEY.LENDING RATES

NEW YGRK-MonCy on call opened
today at II per cent for lending and
renewing.
With the exception OF few transac-
tions at Q per ceut. there is nothing in
the time money market at present wor-
thy of note. Even more conservatism
than previously is now shown by bank
crS.
Mercantile paper continues slow.
There is very little inquiry by local
ba mixers. The minimum discount figure
is 6 per cent and from that rate up to
61a per cent rules on prime paper.
Quotations are pominaIly unchanged
at 11aM4M per cent for prime bills
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02

calves, s13,75@17;. fcoder steers $s"5@I3;
st2gEgT $5eeEs H""o" 9mG SGG% h,,d 1o,or
Feeders, steady Lambs Sl725m2U,6j;
cnls and I?mEgn slS3o@ i% nH ,o E%9riGs W I4
culls aud common. So . a 10 ~: breeding
ewes, SSa ll.25; feeder lsmOs, Slo aO1
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
New York Metal Market

New York. Feb 2--Coppcr--Spot Of
tered l0lsC; February and March offered.
Iead-Spot February aud March, 81 n Ss c.
Market guigt. spelt'r, Esst s., Louis
s,n2 = 90, O2tac; April. May and June S.s5
"a DC. Market easy.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
CHICAGO BUTTER AND EGGS

Chicago, Feb. 9.--BUTTER. Higher.
Creamery, 6Od6l'ao.
EGGS-Lowor. Receipts, 10 1913 casos.
Firsts, 52l2 a 53C ordinary frsts, i5W soc;
az mark. cnses inrlndod. lOM h2C.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
R.serve eanks' Discount Rates

The first column gives rates for all
periods up to and Including fifteen ,.
day maturity. the second for a period OF
sixteen TO ninety days. The third and
fourth columns give the rates for dis
counts for collateral loans secured by
government bonds or notes.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
BANK ClEARINGS
BAR SILVER

Commercial bar silver was &c higher
in the New York market today mt 81 3 |
an ounce. In London, the price was
S4@1 M | Sd.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
LIVESTOCK QUOTATIONS

Chicago ren @HodsIFiSSS9'IRS,y8i iS e 8o t3G%S top
Sii", q + 3D. 'iiiini iisni siSI5a i3,5o light e6iS Ie6tSs
81 s3g 1&a@ he2Hy ao%s pSSs.NT TroTsG Ugh s$G3g
Ac EFF RR!TgTFiLfs14Receipts. 5000 head Weak
bTimc BSGf s'esfS S s5 HSa'9a aa '" "msdq ava F@G9
25 coWmo1nGta M S;'iI:H ~ common t5a and
go9Sa g,S6 and G9%'iI: aI q batSbsr sas hsifsrs
So 75Gti So cows 71a T. ~ i%cs GIT si7. X
$Pp u IaSC: fsodSr d. steers ssul229; stocNer
stesEii ${27g ,lSin,: g; "a 900 head LoWcr
lambs, slsa2l; culs and Gom6m,"n' d6a,..n ,IiIo'3@o
lTT5. ewes medium, good ang SrY1m,..,,., '''''''
al 5o cuIls and common -" 'o'-''
East ST. Iouis, Feb. 2.IIIoGS--E1GSrIclP7ySS. u
soV av hsIis SIS ~ a iS.i0 Sad mediu wcEs. $l3
afiS.7O Iish,. SI5.25m 10 So light iishts'
$50 10 so; heavy, packing SOW, s'sTS',i sI3 -
s5G93'9% d93,75: pss p5y sPis2'.5SoG1i5O. Ps' , s,,,.
CATTLE Receipts 81 s9"S SooyS, EsS" choice and
Prme Psy Sii75% medium HHn5 good ooda .shd ST.
So S5 d0mmon d09n HAN ana T&Sd msdam @
ss"5 d I2.35. butcher cattle, hcifers, ,",II'
a a15 K; cows. s775mir.5o; Gamers I'm, and cut cut
t.r 81 80 srs AL H. 80 SrFfs fssaer sesrs
- nal storhsr st"e5555o 55oS s. q nn,5 no.5jo' Weak
lamb sI775 2i25: yullg spd % C%m120 % u n
Sl3a l723 yoarIinE WedhGtrGs tG ~ * SuIi
and common. S5S9.
East BqGelo y. VI Feb: 5or rGMTTLGTr o\.erI a,T-
shipping Steers, sis@l4; 9,qtghers ;0% 3D.
yearnEs s%nl5 heiteTFs s'e pIH'rITrs c"ws
sad a. 3o% fssdcTs TS sS9 tresa sag
hfes'dI heead 81 lover; S69295o ,,,.
HOGS Receipts, t2, 500 hGIiad, h:aGGG.
10 -; niiScd ;iG 25a 6.3h yoFKsTGc7 80 u ~ -
rouchs sltm14 -; stays "lnW l''pi ooo
SHEEP AND LAMBS-kecciptH. lhOou
head Lsnog 81 loTff59ia %2{hSos hSo; ,sTPH S"srngs s.
1 ri az: IT, wcthcrs Si4@i45O, ewes, '5ml3
/ mixed sheep, s13@13.75.
oHGitsburEh TsS Steers 3GATTIEi5iSSSoG'bG bSf
dTs 5ggO siiTIT@i2 cows, IS s5oSas56 .Goaalyes-Re
esiPtoSd iRPods@Recsipts 500 sss loESG 7SGo head HFnr
HeaVies, Sl5.750,5.aG heavy, yorkers' light
yogkTfEEgp Rnd piE5S 'iokSGggs kgs& Fkccelptr isoc
head. d. Steady Top sheep. 'li25i top lambs
Kansas City. Mo-, Feb @.-rrHoGS,T,,Rsg.
cepfs. 1000 head, HtShsTT, Hu'k, medium t5itS'
siii 's5}I5 10: light SltsOr $3.50; packln'
yows Sla 500 il; pigs. o.13mlG u,o,,
CATTLE-RecrePtssd ~ ms invo ..ffss475mifSSe fSeE X
esS% g. soE8 nS2 iS3Sa sSt, sood and choice
IS7S; common and medium So 25 n >
butsher cattle. heifers S7@la; cows, $3.50
! $50, Gamers and cutters. 85'25g6'75 yea
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
EDWARD r.. SMITH & COMPANY

signed have formed ! copartns rsh !p- in pur-
suance OF tho laws Of the state OF Pennsgl-
name 81 Edward 3, smith GSm3P%ar7Sb SGf3l%.7Sb,s At
TIsennsyiysnia, and 80 Pine Street, CITY, Of
New York. statf Of Now ,1E 19rF, 2Ta ann e's Are
Robert p. Cregar. Albert L. smith. LIN
tied. and Albert l., smith, General, Rad
clife Cheston, Jr charles s. Chcston and
Albert IL Marckwald. The said hrm WI
carry on the business here tof9rn cSmd,tiGGt-sS
Company, Of Philade!phia aud New YORK.
which Mas been dissolved. .
ROBERT p CREGAR
ALBERT l.. SMITH
RADCLIFFE CHEETON, JR.
CHARLES S DHESTON
ALBERT II. MARCKWALD
february 1st. 1920,
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02
Barrett
for a Big Job

Brooke Stokes & Co.
a well-known Philadelphia and
Baltimore bond house, has Just
brought up to date their most
exhaustive statistical analysis
of fifty-one of the leading rail-
roads of the United States,
showing earnings, expenses,
dividends, etc. The investiga-
tion will be published and dis
tributed gratis to few of
their clients. The mass of fig
ures was checked by five men,
working two months Continu-
ally with five Barrett Model
10 machines. This firm orig
inally completed this work in
1916. They had from 4 to 8
men working exclusively at
this work and at nothing else
for a years. At the time this
work was commenced they in
vestigated the entire adding
and calculating machine field.
The gratifying conclusion ar
rived at was that the Barrett
Model 10 is by far the best
device obtainable for checking
work that must be deadly ac4
curate. No doubt millions of
dollars will be invested on the
reliability of the facts fur
rished these investors.
The John B. Stetson Co.
of Philadelphia, the largest hat
manufacturing concern in the
world, uses six Barrett Model
10 machines-four on payroll,
one one building and loan, and
one in the shipping depart
ment.
Send for literature.
Barrett Sales Company
Distributors Barrett Adding Machines
sos Bulletin Bldg.
Phone Locust 5S55
Barrett's are made in Philadelphia.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-02-02

LONDON Money is quoted at 21H
per ccut. Discount rates. short bills.
AS per cent; three months bills, 51S
per cent.