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Southern California Edison Company general and Ref. Mortgaga 5% Gold Bonds Due 1944 Con ' hydro fV ? ?n? ula H'r '?? "' ,t'n .jje ?- -th-.s its : me ative price 8S and interest Yielding 7.07 V, Complete circular en request Harris, Forbes & Co Pine St.. Cor. William NEW YORK Katv" Road May Issu*' New No Par Value Stock Reorganization Plan Nears Completion: Government Operation Causes Loss of $4,792,000 in 1920 The reorganiza! ' the Mis? uari, K..: - [?tiation, tl at ii . a n c e if new t ager? itited, - so*, yet ' in the caj ? through ??? : The torn] I f< r owed {??at or. I - here were ??'-- and K5.-5o.': tvesty-si: among whioh the as ire seeking is the r= ? nov 1 - par t o f t h e - - - ? - through '. - pp and tr K9 flnanci - Sow it ?ble te '.-? ' bond fcolder-' in o - - r ussion _. econd mortgage. oa: by the fa - has been illowed on tr mortj age bonds sud ill ; ?" payment:; ha\ e be the Silt : rtgag branch line i The seenri-. .... ;.., tot! ? ? ? bonds. The M - - was operated for ! ? -. ? ? nth 3 it WM operat under a g tome. In l operated on its own i In the ? -iper? King re-. This cor..-?. mu? for the "r- re "? 1513 of; ?wises iw? $'; with oper itiif ex] E?J5!bj ' in? ?n<rorr.e for the f 192 . -.- ? Ore twe -. - ??ried for 1 SU s{ yt .- ? ? ?? - ?ses*, ope n the firs', two Pr - tt? !o?j, the j : operation for tie two - k7?2.fi<) tatntios for i Wted ?;- s ' terest W?tntola, Ketoperatii " e Missouri, "Mas & - Mi -, 1921, waa fcfcit ia May, For the I pests? of 19 ?WTOimate ? ? ??.?.e ??, ' "Te Month -? Day's New Issues \T & Co. >:-. '-':. . .. mer r - r? :! Ettnn Si, Investment Information .??- " ?? ?. Questions of -jcnrral interest to in ? < a nsu ert <i :? this coJ '-?- ?. ?', case only initials will cd, Othets will be answered ftjf Address all inquiries, incloa stamped, addressed envelop?, t? -. The Tribun?, ISi Nassau Street, h'e%? York City. Wants to Know Security of Bonds Va I bus Bom? s.tfo : I res ? : - bonds: Are : :??; s ;-.-?! bj real >??.? m or other col - ' ? are thi y safe forth ' - Wi stern E rt-ard Oil ? f New Torh lephone C mpany I f 1 iv...i 7s, x- w il ,:. i ?: rro de hi rn 7 .. Un ted States ' ' " i hap ? ? y ' - ci r- Is a:.-I 1 - - - - -, . foi l| g t pei : '. s. Standard <^:? of California '? idard Oil of New York aro ; tl ?? companies, : but are i I cured by a mortgage. ? Pi sylvania and i "i Bell Telephone are so- : mortgage. Westinghouse : Manufacturing Company] 7s arc a direct obligation of the com-: on the prop? erty: rhe Northern Pacific Croat; ': ' a per Ci nt bonds aro ? on coll?t* ral that is, the . ? I the Chicago, Burlington & ' I e Now York Central col 7s aro secured by the deposit of collateral, as their name suggests, fhe Ci rro de Pasco Copper 8s are a ? mpany, but I by mortgage. The hern 7s ;. re secured by a ? and by the deposit r share o'' Chicago, Burlington ; the United ! i by t ho deposit I of S9, ' and refi tiding 3s, | tl e company, and West T- ?-. : ?> a . ' i gat i on of ' thi ly, but are r.rt secured I g n the bonds . In your : in or if i ir pn feronce. ; Seeks Cood Short Term Issues would like ? ) know j*our the sal - ? . -, ? ' - *i Mori , Louis ? I ? irit> ' What . -- ? he maturit; Repu ind ??'".. i ? r ? - ? : - ' ? a' as j ? . - ? : - : tax ? pei it h tax. ?ul ai - ter '-?-? its n ? 5 .0 -, I efei - re con an Francisco In ve. They are due Interest is payable annually if Republic of Chile 5s are due nd are redeemable at thereafter, ?. a business man's in American 'I obacco 7s. due ber i, are a good inve ?enl sold at al M ' . Lig M ? r G per ce:it notos, duo I, 1021, come ; i ? t ty near .- your requirements and are a tment. They ? '- quoted ai 99% b 1, 99 " pi r cent bond you men- - ." mortgage on ters and is guaranteed by , Inc. Will Invest $2,800 in Bonds O osti?n-?1 expect ' i have sonn about ; for Invert mei ? ? From this --' - . - ???.-? , ? ' - .- ax and tax. J - y! I. I l refer an ? ? - ? ? be sal. ifa* '? rent! - Co| -r.hag?n ; 2 1'ul - . A ?oar rate railroad b . j or 4 pi ?% (trial?-C Per ? wiu ia p. o. K. Answer?We suggest a City of Copen? hagen \j'~i per cent bond, due 1941, re tig at 16; a Connecticut Power I collateral, due 1956, 1 bid, 86 asked, ? sry or t Light and Power; a Southern Pacific Central Pacific . ' recent rig at 67; 0 bond of the gho ; ? El . Manufactu impa ' 7 per cent due 1931, re ? par Ti is would re 'tir.cnt of 52,777 Hi.' I he Fod - ads, ex -, Municipal and ? local taxation, and soiling around par'.' what you demand high. Will Inveat for His Mother .... n.vest Ir ? - - I of mine V'ould you ?i' Al yield S.72; ? ? a lard i . Tire 8s. - id i I j | 8.10 . , . : ?? " The > - ? I _\ ? ... if tl b< .. ; , , due Burling! & itera - >. ?; '/as, due 1936, ? alifornia 7?, - - ? - . ? ',', e would sug ........ ,. rid h we think is ? "'? - /, and that ? -? i n '- '??.', - by i he ? . . - ' ,'.- Quincy, ' :" . ? ;- ' - iti, Ch cago <??. St. rila Com? Pa il Lmcnts, lour full column* of m vettment question* ttrul an tveern are published in Th* Tribune every Sunday. Germany Again Paving Dollars On Reparations Bankers Here Ordered to Turn Funds Over to Re? serve Bank in Antieipa tionof Aug.3 ! Installment The German governmi it has r< mi payments on reparations account i dollars in this market I ting the 3180.000,000 duo on August 31 n when the three months German Trea sury bills, indorsed by three leading German ' banks, turtjed over to Lhi Allied Reparations Commission in May, reach maturity. So far this week the ba - - acting for the German Tr. csur; - ' reparations payment operations have on instructions from Berlin drawn a current German balances in doliar to tent of .-i pproxin 000. This amount is understood to have been turned into the ?federal Reserve Bank of New York to the credii of the Hank of England. One of th.- banking houses acting for Germany received two cables from Ber lin, yesterday, each of which ordered that $1,000,000 he paid into the loca! Federal Reserve Bank. Two other banking- institutions also have rece,ved order.; to make payments on the same account this week. The exact ai involved in the latter case are not known, but they are not believed to bring the lota! above ': ,i ! . Germany's purpose in making repara enta now in anticipation of I ? 3i installment is, it is ? i rite r tl ?? ' - I of i - n i ' i pei ? Ger a aro ver - aratioi it payment ? ndon and the of the month is These pay? ment ited to coi i mont '- . I the amounl Lui less than tire $180, . :. ei ? idoftheresu ??? ;> bj Ger? ma esterd I mucl ? ? that the .;;? : ? ? ommisfion announced other way-; r making p lymenl - 10 a . : -.. >rali r.a t? ? i ?pa nt? on repara ere made ;n -iune, when turned in to R Ban to Bank i :' hingiand a : d tr and other forms ?change in Loi ?... ' tinent ing of I -.::?: - me com? plet up set the foreign exchange i, parti? ng Yestei :.i- ? rl inge exhil : ted a | legree of trength til'' rates - n Lo - .- nearly four i g w h i? lately been undei u ? e, closed Day's Dealing in Bonds The Market Despite the extremely dull session in the stock market yesterday the turn-over in bonds kept up to the av( r age of recent days and prices wer" well maintained. Practically nil classes of bonds continued to act well. The rise of recent weeks in the bond mar- | ket has. carried the prices of many of the foreign government is sues which not long ago were sagging below the offering figures well abov?-> par. This broadening demand foi tanding foreign governments has dou been an important factor in i . local bankers to give consideration to new flotations of the same, character. Railroad bonds continued active yes? terday and the tone was firm. Transactions Sales T Liberty 3%a, 1347.?12? 0O0 i 2f do 1st 4Vis, 1947. : 95 . . .; 4%R, 1942. 845,000 5.?C do 3d 4%s, 1928. 174,8 iQ do 4rh 4'4s, 19 ?.1.1 14,000 VI. tOTV 4\ 3, 1023.2,346,< ? do 3%a, 1923. 275,000 Quotations ? Jtleh. ' ?-?".-. Last Llbertv 3V4a .... 88.32 ; : ' 88.21 ? .3 ? ' il,?. . . 88.08 87.92 88.00 !.. 5 7.7 8 7 ? ; 1 ? - .;..i, ..?-'." do 4th 4%s.... 87.8? ? - ?, % -.. :? - - . : ? ' do 3%8 . 9S.8I 98.8 - ' Bid and Asked Quotations Liberty Bonds. yesterday. We IneBda ? 141 . 88.24@88.1 1st Is. 1947_ 87.80?88.10 87.80?88.10 "rl 4s 3 941!. 87.64<?>87.74 87.64? 1st ? \ - f>?7. . . S7 90 i' 3.8 00 2d 4 -, - 1942.... 87.68 ?3)87.72 87.66-987.70 3d 4%9 192*_ P2.0I- ???' i' 2.0 4 91.8113 4: h 4'4 *. 1938 .. . 87.**) g 87.82 .? ? a 1923.. 98.73 S 98.80 ?? ? ? ?B, 1923. . 98.7S@93.S0 98.76? 3.80 Pre-war Issue?! 2a reg, 1930.100% ?101% I001i *??10l % 19 5.100 l? 0101 Vi 1 JO '. 4a reg, ' 3 "'Jr..104 % 1? ? 1 I < ', '?' ? - ip 1925. . . . HM \ -4 : I 101'? 2a P in ?-, I 2 a P a n i 1938 10 0 % ?f 11 t 3 i i . 7 5 :?s Pan coup .... 7f. ii ? - Phil 4s, 19 34. ... 78 78 P 14 19 35. ... 7^ ??; Phil 4s, 1936. ... 7.8 Si - ;. ':? 1965.... 93 @ ? i Foreign Govt. and Municipal Bonds (Interest to be added) Bl 1. A?' ' Cltv of Per?en 5s. rets. 99 994 do Berne. 99% ' " ?? d ? Chi 1st lanla . -'? ? ? do Zurich. Vrgei ne Int 6s 1945. Belgia n 8s . 100% 301 .' - 6s . ?' ? '. - %3, 3 945. . --'- '? ; Canada. Dom of, 1926 j -, dn 1929 .' . , . ? . \ . . 101 % 3 ? . . .... . ? :?'..-.-- . Htl Klig l!j . i . . . Cuba i-xler .- 1914 . 7S serie? A 1949. , . . 3 ; ' ? ? ' ? 949 . 6 7 -i ?'., ?i i- . is, 1941 * of Chile 8s . 98 V? i - :- ? t, 1958. . . . ? . i Ovt 5i4s, 1941, wl ..... - i City of ! ????? s 15-yr 6a, 1934.. . 83 83% do Mai les 15-yr I I ? 33 V? do 1 lordn lum ; 5 yr C 1934 . ? . - ? do ? 5Vis, '44 78% . 78 rfc Prencli French, Paris City. 6s, 1921.... :?:? -, ?? i\ Ovt of Switzerland 8s 1540. . .101 , J., ? a n ?.-?? G -. t 4 Vis? ster 1 ? '? ? . 4 iter . ....... 7 0 ^ ? ?. ? ? ., Cr. King Gt 11 & 1 5 -yr '? ' ? : : , ? -. ? yr 5 4s. 1922. ? ? . y .- S : ". I 'i .:??. 8 9 '...!'?.;,' ... ? Mei ? ext Bter h of '99, ; .45 u () .1 s of '04, 1954.... ( Kgd of Italy 6-yr 6 . : Sin Paulo S =, c:. j -. j (Sales) Argentina Q 3 .... 92'?i 1925 Ss 19 45 Fr r.. h Rep 1 .... 69 I ?s 1943 K of 4 -100 1 ....69 1 _100' Chines ? 33.y Ba 1 .... 1 00 ?? ? ?' : '??? - ? loo i : . : , 9 .... 4^1? -, . .. .;.,., , I 103?i 2 .... 4S%| n -lOOVs, 2 Cil y of Bergen 1 .. ..100 3 ... .10 i? 2 .... 10 1945 -, . . ? - . ; , 1 .... 95 10 ... .100% s s .???'?. 1 .... 100 % '....'? ' '? : . : R 8" 19*5 11 .... 96% S ; 1 . . .. 99% 1 i _ 96% 1 ...-'?? . I .... 96W, ?? ....... ?[ 3 - 99% : ' - ?6% ; , . .. .... r. .... 99% ? 00 ' ? ; ? -.y ; 1 .... *?U ?'. . . 96% r- ... ?181, : ....93 ,;.. ? .... ???-, n ....... City '.' Bord : i . . 1 ? , 3 6s 1934 ' . ? ; 1 . 1 .... S3 Vil .... 8 .. . . 1 1914 ? ? . '-? ?< 1 CUi . -, - 194 5 C -, . 96 %? B f 8s 1931 ..99 | ,,.., .... - . . ?- . -. ? . 1 .... ?' , ??? .. : f 8a . . -, 99 1940 'i ' . ? ? 1 . . ?V f r Mara 1941 . ? ? - ' -, 1 R<| 14 1 . ... 83% : 100*44 ?0 r ? : of Pai :.1 6 s 19 ,..;'. 9 H9% l . 1 91 ; ?? 7 ? ty of Zurich 00 ?., < . 87% 6? 1945 . ..100% r . "l-i :; f 7',- 1 I ' I 100% ;..*-"-? :? ; ? . ? : ? . ; . - ? ? '?. 100'? I 1941 1 101 % | _101 % 1 ? ... .102 1 . - 1 ' \ 1 '- ,94?, ' -, ?? ' ? ..1021* 101% , 101% ... || 1929 9.- -, ; l- .?:' : t .... tl% i,iji i?r A N Y C ^^?a ? -. : i - '-? t i Rjailway, Other Corporatio ris <lrn \c ?-.-- ' C'en 1 - 7 1' r e\ i :* ... : ' I . 10 .. 10U , 'en Pa. , -'.. , ? ! i ?1 i.? ! - - 1 ....Il : ' ' ? : :? ? 7 ? - ? - .' I ? : s ... '.. . ? ? Ft : ta : - ... 4 4 y E I 1st S rfg fis ser i; I s t0 _ ?S ? . - S ? i^M^^_ mil M ? 1935 I'M - : ?? . I : 195? i ? 5fl - ? . 91 '., ? '-' \ . . 44 K i .-- t c v 8 "S J ' : ... ,i 10 ? ?-? ' -i : : . . : : : i , '? i ' ' ? ' : ;?: ?:. '? ..S3 ; '. .s; :?:? i , col (s i : p i ? ?' - t l -1 ' ? : ? ' -. - : ? t . . . : 1 .. -i - ' : ?? , * .... 87 Good;ear -. Ftub s '. ? ?i ; : '.*, ?????. ..lot-*, : ? -. ' i . . . 'i ?.. - W Va 4 i : 102 'Ir Trui an s f -t _? <*. f ? I .: -i i ! ? ? i i . :. ..... ' R ! .-. ? ? - - ? I . 911.!, ? . ? ' 7 1.. .?? r ' ' - 104 t?j - 1 ? 91 . ? 1 H ', . J '10 -, '. 1n 1 -r, '. . ', 10 ? al i**,s : . . . ? '. I ? ? - V, i^iilH X 1 ? v - ? . ; ? ? . 77 ', 77 I ? o 4 . 7 ' ? ? . - - . ? ? '-. : - i ? - i 1 ' :. ? i'-dM I 13 4 i ? 9i y, ? ? * . n - ? - ? ? d ? i ? ' i ? : i * [ni R . ? I ? :?,' I _I^K < ' IV ?i : I i n .? ? i i. : 0 .* i ?. >? 195fi in fit; . 19 41 1 ,47 'a 15 ' 0 New I?sue , $5,000,000 The Otis Steel Company First Mortgage Twenty-Year 8% Sinking Fund Gold Bonds SERIES "A" Dated August 1, 1921 Interest'Payable February 1 and August 1 Due August 1, 1941 Authorized S15.000.0CO Series "A", to be presently issued $5,000,000 Redeemable in whole or in part at the option of the Company on 6 weeks notice on any interest date up to and in? cluding August 1, 1524, at 110 and interest; on any interest date thereafter at 107- and interest up to and including August 1, 192*3: thereafter at 107'i and interest less %% for each 12 months or part thereof elapsed after August 1, 1926. Coupon Bends in denominations of $1003. $500 and $100, registerable as to prinrip?i. [utercst payable in New York at the office of Blair & Co., and in Cleveland, without deduction for any Fed tea to the extent of* 2'". per annum which the Company or Trustee may be required to withhold. THE UNION TRUST COMPANY. CLEVELAND, TRUSTEE For information regarding this issue we refer to a letter dated August 3rd, 1921 from Mr. G. Bar to!. President of the Company, copies of which may be had from the undersigned en request, some of the items of which he has briefly summarized as follows: BUSINESS established in 1873, consists principally in the manufacture and sale of steel plates, sheets, castings, pig iron and coke by-products. "Otis" products bear a high reputation, having been sold for the past 48 years. Customers include railroad compames, boiler manu? facturers, ship builders, automobile manufacturers, oil companies, machinery concerns, etc. PURPOSE: To pay off approximately $3,500,000 current indebtedness and to provide ad? ditional working capital. FIRST MORTGAGE: Bonds are to be secured, in opinion of Company's counsel, by direct first mortgage on the entire fixed properties now owned. The mortgage will also cover similar property hereafter acquired. VALUATION: The general property account (less depreciation) is valued at $16,099,583: the securities owned in other companies are carried at $1,404,124; and net quick assets as of June 30, 1921 (after giving effect to proposed bond issue) at $7,384,344; an aggregate o? of $24,888,051, equal to nearly 5 times the proposed $5,000,000 issue, NET PROFITS, after depreciation, for the 41- years ended June 30, 1921. available for in? terest, before Federal taxes (apart from inventory adjustment since December 31 last) averaged $4,149,715 per annum or over 10 times the annual interest on these Bonds. After provision for Federal taxes, said net profits averaged for 4% years $2,167,988, or nearly 5'? times the annual interest charges on the new Bonds; this average includes the unprofitable 6 months ended June 30, 1921. Since July 1st encouraging improvement has occurred in volume of orders received. Net profits available for interest for the year 1920, before Federal taxes, were $1,615, 008, and after provision for Federal taxes were $1,543,482 or approximately 4 times the annual interest on the new Bonds. FINANCIAL CONDITION: After giving effect to proposed bond issue current assets as of June 30, 1921 were $8,366,189 and current liabilities $981,845 or a ratio of over 8 to t. These net quick assets alone equal nearly 150' o of the proposed $5,000,000 issue. SINKING FUND payable scmi-annually commencing May 1, 1923, will provide for retirement through redemption or purchase annually of $250,000 of Series "A*' Bonds. PLANTS have combined annual approximate capacity of 360,000 tons of pig iron and 450,000 tons finished steel products. The legal proceedings in connection with the issue are being passed upon by Messrs. Cravath. Henderson, Lefnngwe?? Se deGersdorff, New York, and Messrs. Squire, Sanders as Dcrr.psey, Cleveland, Ohio. Interim receipts or temporary bonds will be deliverable in the first instance. All offerings are subject, to authorization of the issue by the stockholders, to approval of proceedings by counsel and "when, as -md.if issued and received." Price 99 and Interest, Yielding 8.10% Blair 6- C o. INCORPORATED 24 BROAD STREET, NEW YORK CHICAGO BOSTON PHILADELPHIA CLEVELAND BUFFALO SAN FRANCISCO ST. LOUIS The statement! presented above, while not guaranteed, are obtained from ?ourcxn which are believed to be reliable. I '. ... 78 ?50 of 5-14 Kan City Tei : - Kvi -i -, ' ? 4 a ; S . ": K : 1 .9714 41 16 15 ?1 ' Sort ? 6a 1020 - 1 . . . '. 04 i 14 \ con 4.? : "'"' 4 a & ? 0 . , B Nor Pa Ser ' * 1'9'fi' g ?-, 1934 . . 1 n * ? : ? i : - . 5 _ S En 3 . : ? 1 ... t fi \ . .i Co lbs 1929 77% <8V4|n ' : il* ! ! US '.a 1 . ? ^e\\\\\\\\\\\\m : 0 ? \ ? \ i .::: ? 4 \| f? 1944 108% I Long I 7 ? . ? ; "?: ,1 Co ; i 10 h : 7 H 1 - ?. 7 . LU710 . 1041, ' ? ?? , u:,i i! [Mil 2 - S '-. Ar K n * C ; dlv m : ... 7. i, So Ry j I 1 . . 67 Manhat Fly 4, ; g 10 7 -i lu* ' ?' ? ? ' 1 Vwn Bell . 1941 ! . N V ? ' ?> n il S'or Si 7 a ia 0 J . ... 1 02 1S41 ?? ? : ? : : .... 1 .... 3 1 ! rfg *:..... 21 : 4a l'a 1 ' p o n 4 ; .7: 1 - 1 .. 1 "? Short I. 4s :^:\j 6 :\ Or - (V t: r ,< i . . . . ?- ,-, 4s 1 l'i .... ? 7 : . : : -, 1 0 ? . '.. :. 1 ..-?;* E N Y r X- Si L Is 1042 * ? 10.. 71 - 7:i*< 1 . . : 8 ', 7 ; 1 : \ ?? 1 . ? \ V On M C Car Sa I I ! , . . . 98 Mich M h : ? ' ! Y ? ? . : :. ? ] 4 . ? ? i . 1 S' T Gas S? L ? H A 1 ???? ; m '?:?'? .'.... ? 0 I N r .t Jersey : " ? ; - s fi _m H I I 90 I ? ^^^^^^ ! . Il (> tV v 40 ' g i 0 I -, ' i, 1938 ? r .. ? ? \ T. ? ' I N V U . * 'ai l'H le Ser s 158) 1 * 4? 1 ? ? n 1 . . <? ' ?' Y. I ' I 4a 1040 I .. .. J7<!j 1 . . . A 1 g 4 s 2 O 0 S I' -re Mu- - 1956 i '? 83'.', 1 . . . , 1 -, 4 s stamped 5 . . . . 1 ..66 1 .... ? i 66% rfg Pbllft Co i ; 9.: 2 4 _[i a?l \ :. a . I . . .29 -? . ? . 38% r s Rub 7 . : ,...79 In 1951 -? ? 77 'So Al. T - ...... t : . . . S2 % ! V ' 67 y. <: L t M & S ... i 1531 . ' -, j . . . 9 0 ; ? - ! < 5 .... 7 4 I -8 ?> 4s R1 v & t? t .... .. ?'?''' I .... 82T? .: : . . . . 69 '. < . . 1 : ??. i . ....70.1 r C h ? 3t I. < S 4a -, - . i . . ? l . ... 5 .... 51 , 194S . ither 5s 1994 : ...j t .... 84 % 2- _ 9 .... 85 4 i - ? : - ? le 1 -i : .5.8 w s ? Vi I 4s 1 9 S ' *a ,v I 1 ? : ? ? : ^^|_ - \ ? . ?? - ? ni ? ?- . : l .... 58% Third -, . 1 .... 59 < - ? . ... 34% i West 1 ....34 ! .... 4>? la l .... 65 H , ? j !.. . ? . "?????'.-? '? 6a 1941 '' i ... 67 i . ?t P ft K i* . ? , . I .... f 1341 : . ' ''" Is 3 947 - . fis 192 nv In 13 *' ' ? S A * A F . , , . ? 19 4 3 The Tribune prints each day the ma? turity dates of nil actu? bondi quoted I-"HBiiiiiriiir'rff"A'*'"8?'1-IJ'w'M"ilii iiiiiiiiiiiwiiiiiiiin'iiii i???ii'iwin ? r?nmi????niwMwwrnmi i i ~i i - ? rHE HOI DERS OF :: First and Second Preferred Stocks READING COMPANY: I 1 1 * I E signed to * interest E ? I S Preferred S 1 - R. I S ADRIAN ISELIN, Cl i*k, N. Y. ADRIAN ISELIN. 1 ROBERT B. DODSON EDWIN G. MERRILL, WILLIAM A. LAW. -j I CAD WAL AD ER, WICKERS HAM & TAFT, I Dated, New Vork, August 4, 1921. ? ' ' the, sec and the die ? i bond hito If (he i I 'so ? ? ?-.... gen rs i r ? i per '??/? '. ! ? e ? ifft ? ? the ma rh et j subtrac . ire is to be added ! ' ret ?? ??'. ; ? t, will give y approximate yield. New York Metal Market Metal E tin was del i ; '.,?.!::; ,-? ted :.'? . ; i lopper weak: standard . 11,: ic ask* -. 11 -'.Or; AugUSt I : asked, and ?pot, . Zinc quiel, New Vork spot I East St. 1 P '? 25c. ! Teclmic International To Aid Trade Planned Ac1 e org i - *? . n the ? > . ? ? ? . : g-e \V. G? - I rimariiy ? ? ? .if 1,001 --?-. ? ! I ir value . ? ? ??'i on \v t -i offle? "