davidaulloa/AmericanStories huggingface dataset:
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22

Hogs-Keceipts, 21,00O; market
active; opened strong to 1Oc higher;
later steady to &c higher than Tues
days average; bulk good 10 to 230
pound averages, $10.S0@10.90; good
240 to 300-pound averages, $10.45@
1915, top, $11 early; practical top,
$1,000; bulk, $10.75 @1O.90; pigs
slow, weak: heavy weight, $1O.4O@
1910; medium, $10.6O@1O.9O; light
$10.S0tb 1920; light. $10.35@ @1O.S5;
packing sows, smooth, $9.25@10;
packing sows rough, sS.S0@9.30:
killing pigs, $9.25@10.45.
Sheep-Receipts, 1900; lambs
and yearlings mostly 25c lower;
sheep steady; top Idaho lambs, $13;
others, $12.50@12.S5; feeder ends
steady around $12; top native lambs
to packers $12.5O; culls mostly
$3.50 OF; best dry-fed yearlings, $11;
top native ewes to killers $3.50;
heavies, around So; breeders and
feeders steady.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22
Hogs and Sheep
Loower at Portland
(From the Oregon Journal. }

(From the Oregon Journal)
North Portland had 20 loads OF
livestock in its alleys Wednesday, but
1G Of them went direct to outside kill
lers. Hogs Were weaker and 25c low
err cattle were slow and weak while
sheep and lambs appeared steady at a
further price cut made late Tuesday
afternoon
In the hog alleys there was only
smallrun reported on the market, but
even this small volume did not stop
killers from hitting the price to the
tune of another quarter. Tops were
off at least 25c for the day, with an
extreme Of $11.75 in the alleys here.
General hog market range:
Z Prime light $11.50 a 11.75
Smooth heavy, 10000
pounds .5......... 11.O0Q11.25
Smooth heavy, 800 lbs,
up .............. 1o.oo@11.oO
Rough heavy ..... 5000 $50
OFat pigs ............ 11.5O@11.75
Feeder pigs .....,..... 11.75@12.O0
Stays ............... 5000 500
Total run OF cattle in the alleys
Wednesday, INCLUDED 44O head, but
3SG head or 16 cars went direct to-
outside killers, While this left but
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22
Call Loan Money
Becomes Easier

NEW YORK, June ga. P.)-
Continued ease of money as shown by
the renewal rate of ga per cent for
call loans invited fresh buying in the
bond market today although the
movement at times was irregular.
Liberty third 4 41as at 100.12 and
fourth las at 100.16 established new
maXimunls for the year, most others
OF that division closing at gains.
Mexican governments were heavy in
the early part of the session, but raj
, lied substantially later. European
loans were hesitant or lower, United
Kingdoms relaxing with the Moderate
setback in sterling exchange, but Jap
anese As improved.
| Baltimore & Ohio As, Denver & Rio
Grande SIS, Northern Pacific 3s, Sea-
board 6s, Atchison general As, Erie
general As and Ponnsylvantn general
hs featured the stronger wails.
Mercantile Marine Ga n,,- M 81
can Petroleum is and Beth. N o4~cl
refunding Gs also made variable gains
on the day. Total sales. par value,
aggregated $14,O72,OOO
Several new underwritings of con
siderable proportions were marketed
Among these were the New York Cen
trail reailroad $27,G45,0Oo S per cent
equipment trust certificates and state
of Catharina (BraziD $4,000, 900 8 per |
cent external loan.
Trading on the stock exchange to-
day continued to be influenced If not |
altogether governed by the extraordin- /
ary movements OF several speculatice
favorites. Chief among these were
Mexican Petroleum and Studebaker,
both scoring new high records for the
year on very large transactions.
Mexican Petroleum, after series of
bewildering advances and reactions,
established Il maximum of 179, from
which 1t made an abrupt descent of il
eight points, but rallied to 175, n net
gain of 1-2 points on a total Of
slightly over 80 points so far this
week.
Studebaker's course within limited
bounds was even more confusing,
making q perpendicular decline ofi
about five points in the final hour,
when the market was most unsettled,
and closing at a loss of 2 3-S points, as
against its early gain of almost that f
much.
Other foreign and domestic oils, /
notably General Asphalt, n-Amer- Z
lean Petroleum, California Petroleum
and Houston Oil, were better by two ,
to four points, but these were plainly !
affected by the reactionary movement
of their leader.
In the irregular advance of the
Early and intermediate periods several o
'g the independent steels, equipments n
ind motor accessories were lifted to y
lew high levels for the current move h
nent. Minor rails sugars, textiles
Gathers and metals rose one to three
POINTS, but eased in the closing revers-
i. Sales amounted to 1,075,0O0t j
hares. Z
Altogether, the markets course
Indicated that its recent upswing was
mainly tIaceable to the existence of =
hort interest of large proportions and /.
onfirmed the opinion of impartial
bservers that substantial public par 81
cipation was lacking.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22

With North Portland touching the
lowest point of any of the leading
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22

Prestige and good will, reputation
and Influence, hopes, dreams ant
ideals-all these are of benefit but
with them there must be something
more tangible to keep the wheels
turning. The world gives its admira-
tion not so much to those who dc
what nobody else attempts but to
those who do best what multitudes do
well.
Some men are born poor; others go
into politics.
Fair Enough.
(Stockton, ILL.,. erald-News.)
Last Friday, in making a run to a
fire at DR.. Baber's residence it was
necessary that some of the members
of the department be left at the sta
tion, due to the fact that outsiders
rode the truck to the fire. We ask
the public that this be stopped.
Roy Bowman. Fire Marshal.
Frank Souders, Foreman.
Daily Riddle.
How does chimney swallow?
Compensation
This is a sad. and yet a tender thing:
!owever old or wise, we only know.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22
Chicago Livestock
Market.

CHICAGO, June 22-(U. S. Bureau
of Markets. -Cattle-Receipts, 100
$$$; steady to 1Oc higher; better
grades matured steers showing an
advance; early top, s9.S5. weight
1856 pounds; bulk beef steers, $Ss5
1925; she stock and bulls steady to
strong; veal calves steady; stockers
dull; bulk desirable vealers, early,
$S.75; bulk best stockers, $3.50
7,50; bulk fat she stock, $5@725.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22
Primary Receipts
or All Grains

|
/ CHICAGO, June 22.-Primary re-
| ceipts-Wheat, 100000 bushels versus
7S5,00O bushels; corn S72,0 900 bushels
versus POI, 900 bushels oats, $4,000
bushels versus $4,000 bushels.
Shipments-Wheat, 1,244,O0O bush
els versus 100000 bushels; corn, 49,
900 bushels versus 773,0O0 bushels;
oats, $4,000 bushels versus $4,000
bushels.
Minneapolis Wheat Futures
MINNEAPOLIS, June 22.--Wheat-
July, $1.29 S-S; September, $1.21 S-S;
December $1.21h.
Grain at San Francisco
SAN FRANCISCO. June 22-wheat
Milling, $1.75@1.SO; feed. s1.759
I.SO.
Barley - Feed, $1.12k 1.17h;
shipping, $125@1.35.
Oats-Red feed, $1.40@1.50; corn,
white Egyptian, $212lA q 2.17Ia; Cal
ifornia red milo, $1.90@1.95.
Hay-Wheat, S16@lS; fair, S149
16; tame oats, $1561S; wild oat, $l1
a IS; alfalfa s13al5; stock s1O@l2;
straw, nominal.
Seattle Grain Market
SEATTLE, June -Wheat-Hard |
white. hard red winter, Sl14: soft |
white, white club. soft red winter. |
northern spring, $1.1S; eastern red .
Walla, S1.O9; Big Bend blusstem,
$l30.
Hay and feed unchanged.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22
EAST COMEDIES TRACK
SUPREMACY TO WEST

SAN FRANCISCO, June 22-(U. P.)
The East, by no less staid and sober
authority than the New York Times,
has conceded the track supremacy of
the West. A recent article in the
Times Said:
''The little band of fifteen athletes
from the University Of California
came East and did just what had been
predicted.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22

Not where, or how, our tangled paths
may go,
spring.
You Can't Tell by the "AIrs.'' Any
More
(From Evening Star, Auburn, Ind.)
Mrs. r. E. Hinman, woman, has
been elected member of the school
board at Peru, Ind.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22
DAILY MARKET NEWS. LOCAL AND GENERAL


markets of the country for sheep and
lambs, the trade here appears to have
reached the point where killers are
willing to take hold
General sheen and lanh trade.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22

HALIFAX. Nova otia.-Hallfax
has been chosen as the site Of a ma
tional monument to Canadians lost at
sea through hazard of the war by the
War Graves Commission.
East Oregonian : E.O. (Pendleton, OR) 1888-current, 1922-06-22

few head available for the market
here. considerable stale stuff is still
dragging YEARLY in the alleys. Or
dinary stuff especially is depressed,
but there appears no real strength for
even the better class goods.
General cattle market range:
Choice hav fed steers IS $3.50 8.75
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21
KENTUCKY TREES
TO BE REGISTERED
by ORGANIZATION.
American Forestry Association Wants
HOpk1nsville Hero Trees on
National ROll-TO Be Re-
corded ut Washington.

Washington. In a letter recently
to Miss Jennie e. Glass of the Civic
Department of the Hopkinsville
Woman's Club, Charles Lathrop Pack.
president of the American Forestry
Association, asks for the names of
those for whom the trees on the me-
mortal way will be planted In Hop
kinsville. The association is register
ing all memorial trees on a national
honor roll and sending out certificates
of registration.
"The memorial tree planting cam
paign which the American Forestry
Association started the day after the
signing of the Armistice," said Mr..
Pack, has grown into memorial ave-
nues, Roards of Remembrance, me-
mortal groves and even memorial for
ests. In tree planting the whole COM
munity can have part.
Zone of the last official acts of Col
Galbraith, former commander Of the
American Legion was the planting of
memorial trees at the intersection of
TIE Dixie and National Highways at
Nandalia. near Dayton. Ohio. At
Tampa, Florida. the Rotary Club has
planted fifteen miles of the West
Coast Road. At York, Pa, the women's
club has planted 25 miles of the Lin
ccln Highway, while at Canton, Ohio,
and South Bend, Ind, the women's or
anizations have done similar plant
irg.
This year. 1922. is the fiftieth an
niversary Of the first Arbor Day in
this country. ]. Sterling Morton start
ed the work in 1872 in Nebraska. All
tree planting records were broken this
year but even greater things are I'M
der way for next year. We are glad in
died to place the tree planters of Hop
k'nsville on our national honor roll
and we call on all Kentucky to make
plans now for the planting in the fall"
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21

thus chosen follow:
First Ward - Chas. Eitel, Clerk; c.
F. Reed and J. c. Rains. Judges; and
o. Greenlee, Sheriff.
Second Ward-Donald Wood, Clerk;
l.. II. Young and F. F. Gerbrich,
Judges; and Pat Sammons, Sheriff.
Second Ward Al. c. Adair, Clerk;
Pat Breslin and H. c. Bell, Judges;
and James Stewart, Sheriff.
Third Ward - Henry Knoveshaw'
Clerk; /. B. Hockaday and Chas. Fist,
Judges; and r. B. Willocks. Sheriff.
Fourth Ward - Jno. Murphy, Clerk !;
Dan Conlin and ]. H. Brown, Judges !;
and Russell Greenlee, Sheriff.
Fourth Ward A - II. G. Wells
Clerk; C. B. Wedding and J. ]. Muir
ply, Judges; and J. w. Davis. Sheriff
Fifth Ward - NJ. l.. Ryder, Cler; w
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21
Ledger Observation-Disclosures
IF WOMEN ONLY KNEW
What q Heap Of Happiness II Would
Bring to MaySNille Homes.

Hard to do homework with an ach-
ng back.
Brings you hours of miresy at lei
sure or at work.
II women only knew the cause
that
Backache pains often come from
weak kidneys,
Twould save much needless woe.
Doan's Kidney Pills are for weak
kidneys.
Read what Maysville Citizen says:
Mrs. William Farley. 1913 East Sec.
ond street, says: mot long ago l used
Doan's Kidney Pills and they did me
world Of good. l am pleased to re-
commend them. My back hurt nearly
all the time and I couldn't do my
washing on account Of the misery ir
my back. I couldn't sleep at might
and mornings I could get up feeling
all right. I would be dizzy and could
see black specks before my eyes. Ny
kidneys didn't act regularly and ir
other ways showed signs Of disorder
My hands and arms would get numt
and cold. saw Doan's Kidney Pills
highly advertised 30 / went to Wood
& Sons Drug Store and got box.
began using them and was soon rid Of
the trouble"
Price 60 cents, at all dealers. Dont
simply ask for kidney rsmedy-gei
Doan's Kidney Pills - the same that
Mrs. Farley had. Foster-Milburn Co.
Mfrs, Buffalo. N, Y.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21

Fern Leaf - G. o. Asbury, Clerk
H. L. Norris and Thos. Reeves
Judges; and ]. P. Graybill, Sheriff.
Germantown w. L. Woodward
Clerk; T. A. Coughlin~and c. X. Hill
Judges; and Karl Hill, Sheriff.
Murphysville - T. ]. Worthington
Clerk; H. T. Crawford and w. l.
Wells, Judges; and E. B. Kennard
Sheriff.
Sardis A. j. A. Suit, Clerk; H. B
Jefferson and H. G. Dye, Judges; and
T. P. Ray, Sheriff.
Sardis - Geo. C. Disher, Clerk; j
w. Sullivan and Fred Grover, Judges
and w. S. Mastin, Sheriff.
West Mayslick = Walter Manion
Clerk; Mikh Young and Albert Grover
Judges; and R. P. Hopper, sheriff.
East Mayslick - R. w. Robertson
Clerk; Ell Williams and G. H. Will.
Jams, Judges; and R. P. Hopper, Sher.
if.
Hilltop - Jno R. Downing, Clerk
J. E. Coffee and Sam Baldwin, Judges
and ]. C. Stevenson, Sheriff
Washington - J. H. Larkin, Clerk
Thos. Parry and c. ]. Hunter, Judges
and ]. W. Walton, Sheriff.
Washington A - Humphre Taylor,
Clerk; Ed Maher and C. r. Tucker,
Judges; and ]. w. Stevenson, Sheriff
Helena - L. d. WRIT, Clerk; 1hos.
s. Collins and Robert Cook, Judges
and Wike Walton, Sheriff.
Lewisburg - w. A. Downing, Clerk;
A. H. King and W. r. Collins, Judges;
and ]. H. Brammer. Sheriff.
Lewisburg A A. X. Marshall,
Clerk; ]. R. Brannen and E. c. Fearis,
Judges; and c. l.. Brammer, Sheriff.
Dieterich - R. B. Chaffin, Clerk; A..
H. King and John Breeze, Judges; and
H. C. Yazell, Sheriff
Plumville - F. M. Ring, Clerk;
Frank Bean and T. E. Morris, Judges;
and George Brevard, Sheriff.
Rectorvill e w. P. Herbert, Clerk
S. L. Rash and E. H. Frame, Judges !;
and Chas. Frame, Sheriff.
Orangeburg-G. C. Landreth, Clerk !;
A. C. Coryell and D. F. Campbell,
Judges; and A. l.. Halfhill. Sheriff
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21
Knights T H''"" PARK N
Columbus Afternoon and Evening

4. Wells and r. j. Bissett, Judges
andC. ]. Haucke, Sheriff.
Fifth Ward Alas. NJ. Riley, Clerk ;
Robert Wells and H. e. Brown
Judges; and H. NJ. Dryden, Sheriff.
Sixth Ward - F. NJ. Jacobs, Clerk
Jno. Flanagan and w. B. Wallngford
Judges; and W. b. Tully, Sheriff.
Sixth Ward A - T. J. Rice, Clerk
C. F. Haughey and w. 7. Berry
Judges; and w. e. Smith, Sheriff.
Plugtown Clarence Martin, Clerk
Ollie Kilgore and Oral Watson, Judges
and w. j. Neal, Sheriff.
Dover - Kirby True, Clerk; L. T
Fox and J. J. Mcmillan, Judges; and
Vernon Durham, Sheriff.
Minerva - r. M. Brooks, Clerk; ]
p. White and ]. D. Willett, Judges
and w. o. Colburn, Sheriff.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21
ELECTION OFFICERS
CHOSEN BY COUNTY
BOARD ON TUESDAY
Mason County Board Of Election Com.
misslOners Select Officers to Serve
at Registration, Primary and
General Election.

The Mason County Board Of Elcec-
ton Commissioners met at the office OF
County Clerk January Tuesday morn
ing as required by he new state Reg
istration law passed by the 1922 Legis-
lature and selected officers to serve
at the thirty precincts in Mason coun-
ty for the General Registration on
Monday. July 10th, the Primary on
Saturday. August 9Th, and the Election
on Tusday, Novmber 7th. The officers
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21
TRAIN KILLS SEVEN.

Kansas City, Mo-. June 90. - The
cell Of the Kansas harvest took a ter
rible toll today.
Seven men. harvest hands, on their
way to points near Wichita and New
'cn. were killed in accidents on the
SHnte Fe R. r. An eighth man was
possibly fatally injured.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21

Miss DUPONT, moving picture star,
former Maysvillian, has sued her hus-
band, a Chicgoan, for a divorce.
The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1922-06-21
Reducing Wear and
Tear-lmproving
Appearance

IOVERFLOR. the new liquid
II floor covering. contains UNI
usual properties.
Long tests under severest condi-
tons have proven that koveraor
makes floors Of wood or cement
interior or exterior-last long
er and look far better.
Resisting any traffic wear you
can give it, koverflor is a real
floor investment-prolonsingi life
of floors so efficiently that its
first cost is a minimum invest
ment indeed.
Ask us for the test facts and the
Koverfor sample book.
The New York herald., 1922-10-30
Average Bond Prices
saturday. October es, 1899.
BOND NEWS AND NOTES.
$1,000, 900 smeIters Offering.

The 81 10000 American Smelling and
Refining Company first mortgage per
cent gold bonds. series a. due April l,
1917. purchased by Kuhn. Loeb & Co..
will be offered for subscription to-day
at "a and interest yielding about 5.45 per
cent. The purpose of this issue Is to
reimburse the company for expenditures
heretofore made for additions. better
ments and improvements to the prop
erty pledged under the first mortgage.
The first mortgage bonds. series A, are
a direct obligation of the American
Smelling and Refining Company and
constitute its sole funded debt. They
a~e redeemable in whole or in part at
100 and accrued interest on thirty days
notice on any interest date on and after
October 1. 1880. The net earnings OF the
company and its subsidiaries for the
years 1912 to 1921 inclusive. applicable to
interest on the companys bonds and
after setting up all reserves and deduc-
tions have averaged sl1 1o5010i per an
mum. The net earnings for the year
1922 will be materially better. and for
the first eight months amount to
H,141 900.
The New York herald., 1922-10-30

declining rediscounts at the Minneapolis.
Dallas and San Francisco reserve banks
show. II Is probable that portion OF
the recent decline may be laid to selling
In order to take full advantage OF the
Governments new loan"
Wherever the liquidation In bonds has
been coming from there were definite
signs toward the end of the week that
II is almost spent. Total sales of bonds
in the New York Stock Exchange were
materially smaller and declines slightly
less.
The offering of the huge Government
loan effectively put on the brakes In
the market for new offerings and the
total Of new bonds last week was small
er than for some time. The weeks new
bonds were little more than $46.0O0.-
600. the largest single issue being only
$4,000. 900. This week. however, is
likely to see brisk revival. offerings
scheduled for to-day alone amounting to
almost the total output for last week.
The reappearance Of new European
loans I'm this market has led to some dis
cussion OF the advisability OF such Of
ferings. especially In view OF the down
ward trend OF the foreign group In the
New York Stock Exchange. II Is pointed
out that the decline In foreign bonds
does not represent any change In In
trinsic value but u merely reflection
OF the continued uncertainty In regard
to the settlement OF pressing interna-
tionai problems.
large number of South American
loans are under consideration and some
will probably take definite form soon.
American bids have been made for a
s10O. 100000 Argentine loan, while an
The New York herald., 1922-10-30
BOND LIQUIDATION
Is NEARING ITS END
Appears to Be No Basis for Be-
lief in Definite Downturn
Easy Money Later.

Persistent selling of bonds generally.
and United States Government issues
particularly. continued throughout last
week, creating much uneasiness IN in
vestment circles. The phase that ap-
peared to hold the most Significance was
the pressure on the new United States
Ans, which sold at discount Of more
than 1 per cent
Indeed, as the decline In bonds has
been going on since about the middle Of
September many investment authorities
are beginning to ask whether this
marks the elimination Of the phenom-
email bond market that has been in prog
ress since the post war period OF de-
flation set in.
study of fundamental conditions.
however. convinced many observers that
there Is no real basis for the suppose
tion that the bond market has turned
definitely downward A careful analysis
Is more likely to prove that bonds are
suffering from unfavorable conditions
OF temporary nature. At least, that
Is the opinion of the more conservative
banking authorities.
In the first place the bond market
felt the shock of the half billion United
States loan to a greater degree than
was generally appreciated. More than
$500. .000. 600 OF the new AIS will be issued
to cash subscribers and about s250. .000, 900
will be exchanged for Victory notes
and Treasury certificates. Thus invest
ment funds were absorbed that in the
natural course of events would have
found their way into the market for
outstanding bonds. This support was
withdrawn from the bond market at
a time when certain amount of sea-
sonal liquidation of holdings of cor
porations was going on.
The selling OF the new Us. which has
been a puzzling factor, was. according TO
the best banking opinion, the result Of
an unhealthy padding Of subscriptions
to the loan. Moreover, now that large
amounts Of money are being diverted
into business channels many are under
the impression that a tighter money
market is In prospect. This theory has
been encouraged by the standpat atti-
tude OF the banks. which have stead
fastly refused to lend money for terms
lc niger than three months at per ccn..
The call money market also has been
much more sensitive OF late and the rate
scars to per cent. on the appearance
OF an increased demand.
Nevertheless. there is still very
definite idea that money will be easy
for some time after the passage of the
full effects Of the churning process
caused by the Governments quarterly
interest payments. etc. In this weeks
issue OF The Survey. the Guaranty Trust
Company touches on the investment sit
uation as follows
yet n survey of factors bearing on
the case does not seem to warrant an
Inference that pronounced scarcity Of
investment funds impends. Liquidation
has prevailed In some quarters as the
The New York herald., 1922-10-30
GULF OIL CORP. 5S
OFFERED FOR SALE
New S35.OOO,OOO Issue of De-
benturcs at Price to Yield
About $50 p. c.

A syndicate composed of the Union
Trust Company and the Mellon-National
Bank of Pittsburgh and the Guaranty
Company, National City Company,
Bankers Trust Company of New York
isl offering at 81 and interest to yield
about $50 per cent. ss5.00o.0o0 10 year 5
I(er cent. debenture gold bonds of tie
3ulf Oil Corporation of Pennsylvania.
\ The bonds are dated December /. 1922,
and are due December l. 1897. The pro-
ceeds of the issue will be used to pro-
vide funds for the retirement of the
Gulf Oil Corporation 12 year per cent.
sinking fund debenture gold bonds called
for redemption February l. 1923, at l0S1z
and accrued interest
The issue provides for a fund Of ST.
900, 600 per annum, beginning November
1, 1924, to be used for the purchase of
bonds upon tender during each Novem-
ber at not to exceed par and interest.
If in November of any year a sufficient
number of bonds has not been rendered
at price of par or less and accrued
interest to exhaust the purchase fund
of that year. the trustee shall ON Decem-
ber | thereafter repay the balance in
that fund to the company. The Union
Trust Company of Pittsburgh has been
appointed trustee.
The bonds are a direct obligation of
the Gulf Oil Corporation Of Pennsyl-
vania Net earnings after interest. taxes
depletion. depreciation, &c, have not
been less than 100000 in any one year
during the five and one half years to
June 80, 1922. and average net earnings
for this period have exceeded s16.0O0,000
year Net earnings for the first half
of the current year have been more
than the net earnings for the entire
year 1921.