davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-10-01
RESERVE BANK ENDS
EMPLOYEES BONUS
Trend of Prices and Decrease
in Cost of Living Given
as Reasons.

The Federal Reserve Bank of New
York announced yesterday the discon-
tinuance Of the payments of extra COM
ponsation to employees. which were
started more than two years ago, when
the cost OF living assumed high pro-
portions. Three months ago the extra
compensation was cut in half. The di-
rectors based their action on the trend
of prices and the decrease in the cost
Of living. Benjamin Strong. Jr.. gov
ernor of. the Federal Reserve Bank OF
New York, sent the following letter to
tie banks employees:
1T will be recalled that when the
payment of extra compensation was
made on June so, you Were informed
that the decrease in the cost of living
up to that time justified y substantial
reduction in the rates of extra compen-
sation for the second quarter of this
year. While YOU We're then advised that
the rate would at that time be reduced
only so per cent, you were informed
that i'm view Of the present trend of
prices it is likely that the extra COM
pensation for the next quarter will be
even more substantially reduced, or en-
tirely eliminated
The officers and directors of the
bank have given very careful consdera-
ton to the relation between general
business and living conditions and the
welfare of our staff, and it appears that
a continuance OF quarterly. payments Of
extra compensation is no longer justi-
fled. You are advised therefore that
such payments are now discontinued
and that no payment for that purpose
will be made for the quarter ending
September 80. 1921.
"The action announced above is the
inevitable consequence of general eco
nomic developments during the past
months, with which all of the employees
are familiar. This policy. however, in-
dfeates no lack of appreciation by the
directors and officers Of the bank of the
splendid services which have been per-
formed by all the members Of the or
ganization."
The New York herald., 1921-10-01
Average Bond Prices
September 30, 1921.
Fri Net. Week,
BOND NEWS AND NOTES.
French Bonds Down.

The most interesting feature of yes
of French bonds. The French 7las broke
from IS to 9il4. while the French IS
dropped from 1904 to a fraction more
than SO. The selling of French secp-
rites was competed with the uncer-
tainty over the next instalment of Ger
rnany's PREPARATIONS payment which
amounts to about S65,OOOoO0 and is due
shortly. 1t is believed fairly generally
that Germany wilf repudiate that debt
and also its currency as suggested by
the depreciation of the mark. The days
next most important ~vent In the bond
market was strength and activity in
local traction securities, following the
announcement of the municipal owner
ship plan of the Rapid Transit Com
mission. The advance was greatest in
!. r. +. Is, but Interborough refunding
rs, B. F.. T. rs. Third Avenue refunding
IS, and Hudson and Manhattan income
end refundings 5s We're strong. Chile
Copper IS were among the leaders In
the industrial group. Their prices
ranged from 20 to 76ia on a large
volume OF trading. American Smelling
IS also were active. Cuba Cane de-
berture Is continued to sell at
lower levels, opening at sc and
slumping to 55. Western Union GIGS and
Northwestern Bell Telephone Is were
very active. Atlantic Fruit Is were
weak. declining about a point to new
low record. Railroad bonds We're gem
orally higher. In contrast to the heavy
tone in foreign bonds United States
Government bonds moved higher.
The New York herald., 1921-10-01
ROYAL DUTCH SEEKING
BIG BAKU CONCESSIONS
Buys Out Old Ovners and Ne
gofiating With SoUicfs.

Special Gable to THE NEW YonK HERALD.
Copyright. 1921, 5y TIE New YORK HERALD.
New York Herald Bureau.
Berlin, Sept. 30.
The Royal Dutch Oil Company may
receive extensive concessions in Baltu,
according to what the Soviet Trade Com
missioner told THE NEW YORK HESALD
correspondent. This company purchased
for f20.O00.0 900. 60 per cent. of the in
terest in the wells there from the old
owners. The first half of the payment
was completed two months ago. The
second payment was deferred in the
hope that political developments would
oust the Bolshevilxi. The Bolshevild not
being overthrown, an agent for the
Royal Dutch Company Is negotiating
with Moscow and the company Is pre-
pairing to meet the remaining payment.
The Bolsheviki admit that they hesi-
tate TO give important concessions to a
company with predominant English cap
ital and regret the absence of American
competition In this field.
The New York herald., 1921-10-01
BUSINESS BETTER
DURING SEPTEMBER
Reserve Board Sees Conditions
Improve in Basic Lines
in Month.

WAsEl>oN, Sept. 30.- American
business conditions improved decidedly
during September in the view of the
Federal Reserve Board, which made
public tonight distinctly optimistic
review of conditions for the month I'M
portant changes for the better We're seen
in the credit situation, distinct encour-
agement' in many basic business lines
and strong liquidation, indicating in
creased ability of business to settle it's
accounts
The wholesome improvement" which
the boards correspondents found in al
most every section, appeared based
largely on the advance in cotton prices
AS a result Of the higher cotton values,
liquidation has taken place and whole
sale and retail trade has been buoyed
UP, the reports said.
Marked Improvement in the credit
situation was cited by the review as the
noteworthy feature of business during
the month. the board declaring that
taken all in all. from a financial stand
point, the month has been in the main
period of distinct encouragement"
The board noted only slight increase
in employment in the thirty days. but
added that while the end Of the harvest
ing and crop movement season might
tend to increase the number of unenl-
ployed this was likely to be offset by q
growth in demand for labor on the part
of manufacturing industries.
Railroads have begun to increase the
number OF their employees, especially In
the far West the review continued.
''and the fact that building contracts
have reached a record figure for this
year promises partial employment In that
service during the autumn"
There has been steady and reason
ably heavy movement OF agriculture
products to distributing and export cen-
tres. the board reported. Prices of most
of them have advanced to an extent, all
though a drop in live stock quotat tions
was seen, attributed to local marketing
conditions.
Textile manufacturing has been well
sustained during the month. the boards
agents said, adding that the boot and
shoe industry had heen NOTABLY active"
Sontinued hesitancy of distributors to
place large orders was noted. but to Off
set il large seasonal increase In certain
lines of wholesale trades were reported.
coupled with orders for stock replace
nlent
Improvement was seen in the amount
Of cargo offered for shipment to foreign
ports, but the available tonnage was said
to remain much in excess of requirement,
with the result that ocean freight rates
continued substantially unchanged.
The New York herald., 1921-10-01
sHIPBUILDING SURPLUS OFF.
American Company Reports Big
Drop I'm Earnings.

The report of the American Shipbuild-
ing Company for the year ended June
so. 1921, shows a surplus after charges,
depreciation. inventory adjustment and
taxes Of s577,S29, or 32 cents share
earned on the common stock after de-
ducting preferred dividends This COM
pares with surplus OF s2.995.294, or
s32.13 a share. earned OH the common in
the preceding year.
Earnings for the period were s2,39i.-
127. against $11.oS9,S0S, and expenses
and ordinary taxes s1,359,69S, against
S2,2s5,7So. Depreciation charges were
$500,665, compared with $3.s33. .004
Other income was sss6.s52. Federal
taxes $331.<3 and inventory adjust
ments $5ss,35f.
After payment of s553.0o0 dividends
on the preferred stock and $l.216,0 on
the common there was deficit of
s1191,171.
The New York herald., 1921-10-01
FINANCIAL NOTES.

william j: Montgomery, vice-president OF
the Bank Of America viii sail for Europe
to-day on the Cedric. He will visit Belgium
and Trance.
The American Exchange National Bank has
been appointed registrar OF the Exploration
Compah, OF New York. Tue.
Frank A. While, formerly assistant man
sgcr Of the American Express Company's So
curities department, is manager OF the bond
department OF Csssei. Nunes & Co.
Nanny Strauss has been elected direc.or
OF v. vivaudou, Inc.
The Financial World Research Bureau has
isued a study Of the s,nclair Consolidated or
Corporatior's securities and survey of the
petroleum industry.
George Hodson, vice-president OF the Bene-
ficiai Loan Society announces that addi-
tionhl branches OF Il are being opened IN Al
lnnta, indianapolis and providence FOR make
ly installments. 10 persons OF good character
who have steady employment.
J,:Franis Howell, fs whitehall street. has
isued pamphlet entitled Little Excursions
r-tc the Fields of Industry and Transporta
rfon." which covers the ST. Paul Railway
system.
william J. Dunn a Co. have opened their
Philadelphia branch office, 1922 Chestnut
street for doing general brokerage busi-
ness under the management OF John y. Nc
Cras.
Ths Columbia Trust Company has been an
pointed resistrsr OF the Celtic Land and
The New York herald., 1921-10-01
METALS.

On the New York Metal Exchange
yesterday tin was Arm and Straits were
quoted at 26.25@27; Straits shipments
at 26.25Q27.1213 and there were sales
of twenty-five tons OF November Decem-
ber shipment from Straits at %: stand
ard was quoted at 26.25@27, and 80 per
cent, at 26.25n2 26.75. Copper was
quiet; standard spot, October and No
vember 11.S71a asked, and electroiytic
spot, October and November, 12.62 "a
asked. Lead was quiet. New York spot,
AS asked, and East St Louis spot,
ASS asked.
Zinc was steady. New York spot,
S4.S5 and East st. Louis spot, ASS
asked
The New York herald., 1921-10-01
Big Four Plans issue.

The Cleveland. Cincinnati, Chicago
and st. Louis Railroad Company has
asked the Interstate Commerce Com
mission for permission to issue sS11 200
Of its series a and $2,6S9, 900 of it's
series B refunding and Improvement
mortgage bonds, the series A issue to be
dated July ], 1919, and mature on
July 1. 1929, and the series B one to be
dated July l., 1920, and mature on July
]. 1895, both to bear interest at s per
cent. and be pledged as collateral secur-
ity for 6 per cent. promissory demand
note for S3.500,000 issued on August A..
1921, to the Director-General of Rail-
roads. with the proviso that s72.400 OF
the roads general mortgage bonds and
$4,000 of its gold debentures held by
him should be cancelled
The New York herald., 1921-10-01
Minn&StL fd5s
MSP&SS M6K:
bio Z G Tex 4,
Mo K& Tex I'd

certificate %
5...... .4li4
Mo X s. Tex I'd
j. 80
Mo Pac IS 1877
r O-1.
The New York herald., 1921-10-01
wire Trouble Delay. Bond sales.

Bond distributing houses with numer-
Gus branches outside of New York re-
ported that wire trouble had interfered
considerably with the sales of new Is
sues offered yesterday. Nevertheless
fully half of the $l5.000,0 900 of West Nir-
ginia's and half of the $l0,000,000 OF
Toronto's were distributed. The syndi-
cent. bonds at 99la reported that all OF
them We're sold. OF the Aluminium Com
pany's issue $S,0o0,0QO We're sold in New
York and s1o,000,0Co were drawn down in
Pittsburgh. where the company's sec
onGary distribution may take two or
three weeks.
The New York herald., 1921-10-01
PHILLIPS PETROLEUM
SELLSBOND ISSUE
$3,500,O0O Will Be Used to
Capitalize Earnings Put
Into Properties.

The Phillips Petroleum Corporation
has announced that it has sold TO the
Central Trust Company of Illinois, Kis-
selo, Kinnicut & CO. and Hambleton s.
Co. s3,5oo.o0o ten year ~ per cont.
gold debentures out of total authorized
issue of s7.ooo00o. Associated with
the foregoing firms are DominicS g.
Donlinick. The purpose of the Issue is
not 70 pay off indebtedness, which is
yeTy small and could easily be taken
care Of from earnings. but to capitalize
10 small extent past earnings which
nave gone into properties instead of dis
tributed as dividends. The issue will
probably be offered publicly next week.
The New York herald., 1921-10-01
LEGAL NOTICES.
No. 1901.
No. 1901.
TREASURY DEPARTMENT.
OFFICE or CONTROLLER OF THE
C'TTRitF,<CY.


TREASURY DEPARTMENT.
OFFICE or CoMPTR0LLER OF THE
washington. r.. C., September -. 1921
vtERFkS, by satisfactory evidence pre-
sented 10 the undersigned, u has been MADE
..T3E METROPOLITAN NATIONAL
BANK OF THE CITY or NEW YORK" In
the CITY OF NEW YORK in the County OF
NEW YORK and State of NEW YORK has
camplied with all the provieions OF the
statutes Of the United States, required 70 be
compiled elth before an association shall be
authorized 10 commenee The business OF
nnnklns: -
now THEREFORE, I, u. r. CRIssINGEE.
C'on;tr3iier OF the Currency. do hereby GER
'ify that THE METROPOLITAN NA-
TfoNAL BANK or THE CRY OF NEW
y,lRK' IN the CITY OF NEW YORK Ia The
County Of NEW YORK and state of NEW
YORK Il authorized to commence the busi-
ness cf Banking az provided in section Fifty
ore hundred ard sixty nine OF the REVISED
Statutes % the United States.
COSVf1RSION cf " Metropolitan Bank
with 9 branches in the thorough of Man
haitian County and State OF New York.
and branch in the borough OF Brooklyn.
County of Kings and state OF New York.
IN TESTIMONY WHEREOF witness my
hand and Seal OF office this TWENTY
FOURTH day OF SEvTEMBER, 1921.
~. u. CR1SSfNGER.
Comptroller OF the Currency.
(currency Bureau. Seal OF tho Comp
troNer OF the Currency. Treasury
Department.
The New York herald., 1921-10-01
New Onersnx..

G. w. McNear & Co. have purchased
and are offering $4,000 OF Garden
County. Nebraskas court house and
bridge per cent. bonds, due serially
in 1892 TO 1871. inclusive. TO yield per
cent. and $4,000 of the city of McCook' S
per cent. direct obligations bonds. due
in October, 1871. to yied 9 per cent. II.
]. Van Ingen a. Co. have purchased and
resold $4,000 OF the boro OF Verona,
". J.s, per cent. school bonds, matur-
ing in 1923 to 1866. inclusive
The New York herald., 1921-10-01
WARNING BY WARFIELD
IN RAILROAD MERGER
Would Auoid Disturbing Se-
.curity and Credit Values.

Avoidance of disturbance of railroad
credit and security values should be a
price concern during the completion of
O plan for the consolidation of the
country's steam carriers into limited
number of systems. declared S. Davies
Warfield. president Of the Association
of Owners of Railroad Securities. in a
statement issued yesterday on the ten
tative plan for railroad mergers an
nounced recently by the Interstate Com
merce Commission.
1.-THE outcome of the commissions atti-
tude and action with respect to these
consultations Is OF far greater moment
than is apparently realized from the
thought generally expressed that 1t will
take years for the consummator OF
any suggested plan" said Mr.. Warfield.
"Consolidatjons to be effective must
depend upon the free exchange of traf-
fic and it's economical movement from
one section to another and from the
interior to exporting points.
Every community is concerned in
seeing that its railroad facilities are
not curtailed to an extent that may
affect its advancement. Undeveloped
territory is concerned. for too great
a concentration OF railroad facilities
may adversely affect it's development.
Provision should be made that incen-
tive and initiative, which has built up
the country. shall not be impaired"
Mr.. Warfield said that the board OF
economies and engineering appointed
by the security owners association to
investigate the railroad situation and
make recommendations for greater effl-
cheney and economy Of operation has
undertaken special investigation OF
10 n
hope that the Interstate Commerce Com
mission would allow ample time for this
board to complete it's inquiry and submit
suggestions before q final plan was
adopted The board plans to advise the
railroad companies Of its conclusions
before forwarding them 10 the Inter-
state Commerce Commission.
The New York herald., 1921-10-01
THE METROPOLITAN NATIONAL BANK
OF THE CITY OF NEW YORK.


TO THE SHAREHOLDERS:
Notice is hereby given that a Special Meet
ing OF the Shareholders OF the Rank will be
held q. It's banking rooms at 81 Broadway,
Borough OF Manhattan, City and State OF New
York on the 1st day OF November. 1921, at
10 O'Clock In the forenoon OF that day. for
the purpose OF ratlfyipg and confirming ths
terms snd conditions agreed upon by q ma
jority OF the board of directors Of The Chase
National Bank OF the City Of New York and
by a majority OF the board of dirootors OF
fiiis Bank to consolidate the said two bank
ing associations into one association under
the charter of The Chase National Bank os
the City of New York. and for the transac-
ton OF such other business as may properly
come before the meeting.
BY Order of the Board of Directors.
FRANK W. FRAzEE, Cashier.
The New York herald., 1921-10-01
New York Edison Issue.

Plans for offering $ae,ooo,0o0 Of the
New York Edison Companys 6 per cent.
bonds as soon as consent to the issue
IS given by the Public Service Com
mission are ready. The head of the
syndicate is hopeful that the offering
can be made carly next week.
The New York herald., 1921-10-01
ELECTIONS AND MEETINGS.
THE CHASE NATIONAL BANK
OF THE CITY OF NEW YORK

New York. September 10th. f83f.
TO TILE STOCKHOLDERS:
Notice is hereby given that Special Meet
ing of tho Stockholders of the Bank will be
held at it's Banking Rooms at 50 Broadway.
Borough OF Manhattan, City of New York.
State Sf New York, the LIST day of Eovem-
ber, 1921, at 12 O'Clock noon. for the pur-
pose OF rntfying and confirming the terms
the board of directors of Tho Metropolitan
National Bank OF the City Of New York and
by q majority of the board Of directors
OF this Bank TO consolidate the said TIVE
banking associations into one association
under the charter of The Chase National
Bank OF the City OF New York; and for the
transaction of such other business as DAy
properly come before the meeting.
BY Order o; the Beard of Directors.
W. p. HOLLY. Cashier.
The New York herald., 1921-10-01
United States Smelling. Refining & Miniag c.

The Directors OF the United States Ssnelt-
ing, Refining Mining Company have de-
clared a quarterly dividend of i% per cent
Cs7is cents per share) on the Preferred Capi-
tai stock. payable October ~. 1921. to stock
holders Of record at the close OF business
October o. 1921
y. W. BATcHELDER. Treasurer.
The New York herald., 1921-10-01
no he soId ON ,Chnnxe.

The New York Stock Exchange has
admitted to it's trading list Canadian
National Railways, Dillon, Read & Co.
interim receipts for 100000 of the
Grand Trunk Railway Company of
Canada's Is year s per cent. sinking
fund gold debenture bonds, due on Sep
tember l, 1886, previously traded in on a
when Issued basis.
The New York herald., 1921-10-01
CHASE SECURITIES .CORrORArIoN.
New York, September 28th. 1871

Notice f. hereby given that Special Meet
ing OF the Stockholders of Chase Securities
Corporation Will be held at its office OF ~
Broadway, Borough OF Manha..sn, City Il
New York State Of New yors. on the ist
day OF November, 1921, n. two O'Clock in
the afternoon. to consider ana vote upon pro-
posals 10 increase from 10000 II zoo, 600
the number OF shares. without nominal or
par value, which the said Corporation may
issue and the amount of it's stated capital
from 80, ,T5o. 900 TO S1o o00 900; the ooadltions
under which such increase shall become Of
fective: the consideration for aad the terms
and conditions under which, II aatroris,,tl,
aaid new or additional shares snail lie Ia
sued; and for the transaction OF such other
business may properly come before the
meeting.
BY Order of the Board OF Directors.
". r. TINKER. President.
HALsTEAD C. FREEMAN. Secretary.
The New York herald., 1921-10-01
is EooD PRODUCTS coRPoRArloN

October let, 1927. coupons from bonds oi
the Distlilcrs Securities Corporation VIII be
psid on and after October ist, 1921, on pre-
Fentation ~ Bankers Trust Company. ID
wall street, New York City.
THOS. A. CLARK, Treasurer.
The New York herald., 1921-10-01
rrnN,TroNaL PAPER COMPANY.

New York, September 18th, 1921
The Board OF Directors have declared a
regular quarterly dividend of one aud one
haif per cent 1850 on the preferred CAPT
tai stock OF this Company. payable October
18th. 1921, 20 preferred stockholders OF rec
ord AZ The close OF business October Tth. 1871.
OWEN SHEPHERD, Treasurer.
The New York herald., 1921-10-01

Normal, H., School
Oklahoma Gas g. Elec. Co. lst Mtge
Gold SIS
Oakland, Maine
Oakland County, Mich. 431-s
Roberts, Ill. SD No. 116 SIS
Rutherford County, Tenn, SD SIS
Runnells, Iowa. School
Seattle Lighting Co., Seattle. WASH,
! Ref. Mtge. SIS
Shelby Co. Tenn, Court House Furn.
g. Fitting
South Bend Ss So. Mich, Rwy Co.
lst Mtge. Gold SIS
South Portland, Me.
Sycamore, ILL.,, SD No. 81 4lzs
Springfield Village, VT.
Wellington, H., High School
West Plain, Mo-, w. w. 6s El. 1t.
Wilkes Barre, Pa, ID 4lI1s
Wilmington, N. c., Water g. Sewer
age 4Izs
Winnetka, ILL.,, Sch. Dist. No. SO
Fergus Falls, ,Mont.Ind S ID Ref. 411as
Poplar Bluff, Mo-, Ref.
Henry, Ill. Water Works
Lincoln Co., Miss, Jail 4/2s
Tenth
Fayette, Mo-, Water Works
Harris Co., Texas, Road AIS
Hill Co., Texas, Road
Morgan County, Ga, Court House
4Hs
Bell Co., Texas Road Dist. No. 5 SIS
Bell Co., Texas Special Road Dist.
Series ''E"
Mcclellan Co., Texas Road Dist.
No. 2, 5s
Fifteenth
Burleigh Co., N. D., Ref. 4l/zs
Carroll, Iowa, S d Sch. Fdg
Chippewa Co., Mich, Ref. 4I2s
East Texas Mich, Ref.
Islip, N. Y, Union Free Sch. Dist.
No. /.
Kaufman Co., Texas, Road Dist.
No. 3 Road SIS
Pana, ILL.,, High School Bldg.
Sioux Rapids, Ia, Ind. ST
Sterling Twp, ILL.,, Road 4l/2s
1 Warsaw, H., Water Works
Winnsboro, S. c., FL. 1t. g. Imp. 4lI2s
Windsor, Mo.
ALSO PAYABLE AT
nc, Boston, Mass, and
Bank, Chicago, Illinois.
The New York herald., 1921-10-01

500 employees In the Cafc Savarin. The
company's officers and employees inspected
its new offices, 100 broadway, in which its
business win he transacted commencing on
Monday.
The New York herald., 1921-10-01
rENNsyLvANrA OIL MARKET.

on CRY. Pa, Sept 30.--Credit ball
ances s25O Runs. 53.2es. Average
$4,000 shipments s7,ss0. Average.
Ae.e1k
The New York herald., 1921-10-01
Coupons Maturing October ls, 1921 Payable at the Offices Of
Harris, Forbes & Co
Pine Street. corner William, New York

BsebS SSsVVst SpS
First
Ada, MINI, Ind. s. d Sch. Bldg
Anderson County, Tenn, Road
Auburn g. Syracuse. Elec. r. K. lst
g. Ref. SIS
Batavia, ILL.,. Bridge 4lI.s
Bolton, Texas, SIS
Bcrrien Springs, Mich, Water Works
Boone e. McHenry Co.'S, ILL.,, H. 5.
SD No. 1876 SIS
Charlotte, Mich, Sewer
Charleston; ILL.,, Ref.
Chickasha, Okla, Sewer
Chickasha, Okla, Water Works
Cicero, H., Sch. Dist. No. 90
Coos County, Ore, S ID No. Al
Danville, ILL.,, SD
Dayton, Iowa, Water Works
Dominion Pr, g. Trans. Co., Ltd.
Hamilton, Ont, SIS
Dupmore, Pa, 4I2s
Du Page Co., H., SD No. 78 4Izs
Elk Point, S. D., Elec. 1t.
Fayette, Mo-, Water Works
Ford County, ILL.,, Sch. Dist. No. 102
Fort Dodge, Iowa. Ref.
Forreston, H., Sch. A. IS
Galesburg, ILL.,, .Elec. 1t. Works As
Geneva, ILL.,, SD SIS
Grand Haven. Mich, w. w. .4Izs
Greenville, Tenn, Sch. Series "a" 6s
Highland Park, ILL.,, 81 d No. 107
Home Independent Tel. Co.
Huntington, w. Va, 6s
Interurban Rwy Des Moines, Ia.
1st 'Mtge SIS
Independence, Iowa, Sch. Dist.
Knoxville, Tenn, Market Sch. House
SIS
Knoxville. Tenn, Public Imp. IS
Knoxville, Tenn. Viaduct 4I1s
Lancaster, KY, High School
Louisiana Port Commission SIS
Lamar County, Texas, Permanent
Road SIS
Mamaroneck, N. Y, Sewer 4.55s
Madison, S. Oak, Sewer SIS
Merchants Heat g. Light Ref. 5s
Midland Valley r. r. Co. lst SIS
Mills County, Ia.
Monmouth, ILL.,, Ref.
Monmouth, ILL.,, Water Works Ref.
Mount Airy, N. c.. Water Works
El. 1t. g. St. Imp. SIS
MurfreesboTo, Tenn, Sch. Dist.
Murray City, Utah, w. w.
New Kensington, Pa, S d IS
Norfolk, Va, Water SIS
Norfolk, Va, IS
ABOVE COUPONS
Harris, Forbes g. Co.,
Harris Trust g. Savings