The Cincinnati Enquirer from Cincinnati, Ohio • Page 29

I IEJ lesiiE Of government -Bonds Forecast For Year's End By Eastern Bond Men. Xuban Loan Only Delayed la Belief -Money Market Conditions Con sidered To Be tra'-tti wstatcb to rat sQn. 1 New Torkv December WMnch Interest IsHssinst ahoWri'' 111 the possibility of a substantia! amount of Yew linanclng oelnf done by" the Wilted State! Qovenimeot now and the end of the currentoalendef year. Leading bent men ear that In their a ivb me vvwrnment yrvtMnnj- irm undertake an Issue of of tliert-trh nnancrn with, a v1w to timoJatlnf a more substantial situ ation with respect to the market for Government securities, the? activities tbo Secretary of the Treasury thus far la the matter' of- new flnanelnr Jmvlnf been ef-a decidedly eonetruc tlve character oo each occasion when new financing has been it Is felt that whatever new flnaiio-Ing measures are adopted: by the Treasury Department," the offering-'J will be made highly atttaVtWS to the pufc-ilr, and early In If It may bo sumed that the bond market by that time has recuperated. It would see Hair to assume that ft lonsT-terra Is-i sue will be put out by the Washing-i'JBin authorities.

The last offering was unusually sue-' sfl. and while the largo amount money diverted to the purchase of new per ceuc uo.ermncni. bonds unquestionably resulted In WE WILL BUY OR SELL the following securttlea: rinclnnftti Finance Co. American Finance Co. National Automatic Mnele Co.

I'nitexl Koyalti.es Co, I'. S. Turpentine (units) Continental Clay Products Co. (units). Klbl titter Shoe Mfg.

Co. (units). Cemialt Oar erWe srrnarttoeii. Infertaatle Gratis, GALLOP a CO. 120.

10 KEfTH BMW. PHONE Alt AU 7t 37. MaMtehed ltOS. Bteeks aad at We Specialize Actively In Ohio Unlisted Stocks buying, selling, quoting and can frequently help to finance the purchase of many of the following stocks. Whether buying or selling, get our quotations.

Akrna tiaaraateed Mertgee Co. Amrrlraa Flaaaee Ce. Aaaerlraa Mertsjasjo Co. Amt-rlraa Meter Traeh Co. '-ytmrrlraa Stassplas; aadl Street.

-lluakera' Uaaraarteeel MsJ Co. Braver Heard Co. Heaaet Co. Barker Glbaw PJew Co. Baekrre Hebkes ProVaeta 7e Uarkrye steel Calasj Co.

Burtee TewnoeM llrtek Cw Cratral Steel Co. I', aad K. 8kee Co. aaaaalaa feiafjtawerlas; Co, 1 kiperwa Iraa Mlalasj Cot liaeiaaatl Flaaaee Co. Hle Menawsta t'sv 4 levelaad lilaeaoat Cev t'levDlanil Kat.

Kire laa. CO. toauaaawealtb flaaaee Co. leattaratal flay Co. eks4ea Hleve Co.

traae Ire t'rraas Co. Uaaarmlllrr Wreeery Co. Uaylea Hafcber Co. Oraaaee Marklne Works. Ueflasmo Motor Tiwett V.

R. I Wolllaav Co. Iwejoa. Uaklake Co. laaaea.

Daraeabera; Meton Cot Kaairra fetuak Co. felweno Nyera Co. Krlr Tire, aad Robber 1 I 'lreateM Tiro a RoMof Co. r-lnrlda Karate aad lad. r'eete Bart a.

r'ranklla Brick aad lire Co r.arferd Motor Track Co City Life laa. Qo. HMdrrar Rakfees-'Co. llawklaa Mrstae Co. HaavktM KIam 4 'a.

lateraattaemt- Mora aad HftaOk MC r.ratajekyB)teTrllro Cotw. laoa Tiro a0 ReieeoCa. ltrepOtltaB'av. Rrrakj Co. rtreawiitaa Otarrs Co.

Will. Rakavr Co. Xlaaeart mate Life laa. Co. Mora Eaalasfrtae; Co.

Vatl.naf Aata- Moats Co. "al. yower CO. Okla fiatl Ufa too. Co.

iikU aeoatleaO Toko V'o Mi lea Blsko Co. Itejaa llaelrry Co. Prevtdeaf Mortaairo Co. -H alarmt Itawt Car Co. RepofcHo RtMrr Co.

HafcMae A Myera. Krara, Nb-bolo Co. keHlaa- Hookotr Cav krrwta.WllliaiM Co. Ktratkere Faroaeo Co. "ataaiHt (trkreew Co.

"oaerlar I'aderwoar R. Strrt Ca. "rykald MteMstCt. Trey aaaakado Co. Maetaoato Cot Aotaaaotlea Ca -F.

Tarawatrao aad Heetsi laHed Royalties Cow I Write, phone or write for up-to-the-minute quotations. '0r ders and inquiries will receive prcdtipt attention. A. J. FRAIIK Specialist Ohio Securities 510-S15 Union Trust LUg.

cwcBmATfy omttK somewhat dsmpeninf the bond market! the WatBtnftoaVathorltles to further wee a cn rorwara IimmImu ananotal Nd tii of the part of the Uovernment. In that It resulted In funding for a long period ft substantial- amount of short-term1 securities. The new bonds already bars sold st a smalt discount but ultimately eenndenco eatortaThed they will command a substantial premium fcboTa tbe obTering auotatlon. -All. Government Issues reacted measurably In the downwgrl movement of the ltt re wHs, but at the lower levels it was said the char-actor of buying was exsellent.

It being Intimated, that the Oovtmmtnt had been a fairly liberal purchaser oonas ray its own account Some Interest was shown In ths an-nounooment that the Cabae loan ferlnv had been postponod for a period of at least a week or possibly two weeks, owm to ths illness of President Uye and to a desire of it iut elAmerlean Cotton Oil Is 1 1 American T. an T. ev. Do elt Ss i. I Po elt America Wrttlng Paper s.

111 Armour Vts ilA, T. and V. ev. 4s. lit i9 gen.

If Do Koeby Mountain 4s 30At1antle Coast Line 4s 1 Do col. tr, 4t KtllMr It Il American Bmelt. and Ref. ItlAmerlcan Uugar fe 4lA(ianiie xiannina aa IIBarnsdall A IUBII PH. J.

17 Briar Hll lllliell Tel. Hill 1 'Cleveland union Terminal Ktetl I He of Fenn. oaiiimore anar unio es Do Toledo it I0 llli 'Do gold 4s ev, ewa- 1 Do U. and W. Va.

is. Eo Bethlehem 0teel Is Do ft. UK Do funding Is I qrai aa Brooklya Rapid Transit Do ct is ue tt, (av. TlBrooklyn Jt I. (Irst Is.

jlBurTalo, Roeh. and Pitta. 4ii lIBrooklyn KOieon Pacille 4s 11 'Canadian Sonthem Is llChlcsge Udren Htstion IHs ll Dos aiCentrtl of Georgia Is 4 Do cn. Is v. lalhar la JOICentral Pacific flrs 4t IjCheanpesko and Ohio Do 4VtS DO 1S orviov ev.

tis Do R. and A. D. first 4IChleego and AHon I Ms Do Is B. and Q.

Is 3 Do g. m. 4s i Dorninqls IHe ll Do Nebraska 4 SOiChtctgo Great Wettern 2C, M. and' Puget Sound 1IC. M.

and St Paul 4s, 1 Jl 1 -31 I Do V. P. Is do ev. it Do ev. 4s t.

Do g. m. efts Do ft j. ms DO 4S CChleagq end N. W.

DO ss, HIT DO OS, IStl II at Chicago Railways Is 4C R. and P. ts I Do ref. 4s 1KB. and.W.

liri. Is 31 iifichlia Coppof lit Do Ts ltlCerrq de Pasdo 4 C. C. ahd Itt. II Do 4s gn.

4 Do ae JiClnclnnatI Oaa Is. ........,..) liColorado Md. Is si. 1 in. wioraoo wiu.iiwi c.

and H. V. ea es Comb. Tab. Ree.

Is. Com 0. Tao. rtrc. 41 lOWons.

Coal of Mkrylan 41 Cuba cane vugar ts Do Ts ov 1 Cuba-A merlesn Sugar Ik 1 Cuba Rbllroad itirhieatfn aad BaarerA III. HCommonweaitn rower 44CansdHin Northern DO tHS lOiDoiaware n4 Hudson Ill pot te Do ref. eo. tiDenver bn hio uranae IIDttt eto. CoVpsrattqa 1 Detroit von Do IS Of 1 21 7 1 ti 2 131 10 tl 31 Ison 40,.

....1....... ztiuuponi ini TiDuouesnoOilaht It. asnersl Electric reat Northern Te Do IHs Da first Ks 4Dorry Company 4 Drqer Btee 1 1 Denver oaa ll Kast cuba sugar mt. SI' Brie (Penn.) ltlBrlo 4s ffA 2 Do gen. 4s 4tl do t'BmpIre r.

and TUs. fiFramer Ind. Dev. llFisk Tlrs Oeneeee Klver se Ooodrleh Company IHs Goodyear 'f "is" 'oY Do of 4i r.H4-Mal'Sa Holland-American Unf et Is. Havana Electric ts.

Hocking Valley Mm CkMl Sa Hud. and Man. rag. is, gones a llHud. snd Man.

adj. 4 Humnis oil shs. I ll Illinois central and Li an tillllnoit Central rsf. ts Of ll do trot -tt. 3 nitnols eteel '10 Indian bteel H)L R-T.

ref. Is Of 'II SIU tf i i 114J po Tt w. I UtIi! and 6. N. ad Y.

rri, A Jfl Is, lilow Central 4a rjemst r- and tl'Jer. L'n. Mar. rota I llKeokuk and Dee Moines Ilk. rt.ejeott and M- I it B.

aad P. If, liKelly-prtnrJeld a and N. W. is illa" ndAJn 'ev4i'iii it; II Do 4s, lilt J. t'tehlgti Valley is HUgaett Myers ts 141 Do le Do lka it 'u isV.V.V.'.V.'.V.' SI DO TS 1 Manatl fiue-ar ct IJiMarlaod Oil ww W.

IIPO Ct. Til tlMsrket Street isi po nret fit W. P. and B. a M.

llM T. adj. Is. W. I DO 4B tm 4a w.

I. DO Is, w. I. A. Do la, IflstooH piteinq gen.

es 62 t'Moafc fewey It 1. 4 ontreM Tratnerayt 4 ontre Tratnerayt ft ,,,,,..1 lihiin. iieetrlo 4e .1 JlMliwaulo Oaa New Wg, al v. T. IS Mew I CatuaJ des II Do It It t'W V.

if. ri ths Cuba Covernattnt Ctfifldnce It eatertslned Ut sealed bids will be ajkod within the neit fortnight and It appears oertaln that there will be at least three sad possibly mors "bid ders for the I5t.tftt.no or. UsuS soateaiplated by the Cuban Government The feeling In the trade Is that these bond will command mora thaft pulsing attention when they are offered for subtertptlon and that llttls 'oVflcaMy will bo experienced: la successfully plarlng" them with Investors. It Is felt that It will be necessary to offer them at an attractive quotation, particularly If they are presented to ths psblle before the end of the present calendar year. If ths Cuban authorities would hold iff for another month, bond men are of iht opinion that a much better KEV VOHK COND MARKET.

2 WW St mi vs 10114 lie 'IIS II, ea lit price would be realised for the bond, tl It la regarded ss a foregone cea-elutton that after the turn of the new year, and the January Interest and dividend disbursement money Is avail able, there will take place ft substan tial Improvement la the bond market and that new Issues can bo marketed at prices on or peettMy two points hlRher than la possible and or present eondttlonaX Boms Irregularity was shown throughout tha list during (hi week wltb rather broad fluctuations being recorded at timet, but at tha lower levels established there wad stated to have been good absorption of the best trade securities, while suit tome attention was, given to those of tbe second cists. Bond prloes are now from four to 'eight point ler thta the hlgheit quotations of ths year, and this aaturany has been Do tag. prnntylvtnla IHs do g. m. ts Do 4t of 1141 Do It of lef Tut tm trSCTAtOlITitrlToTBISSemsS.

Nsw- Tork, December a.bvemehts' during tha week ranfinr from neaey Arm. tha bead nsarktt during the last session' displays detrenfth. lulls generally Improved, utilities hold nrm and Llberuta. while not much change from- Fridaya steady. -NeW tork tractions wera flrnt Ml foreign government bonds we're In good demand.

Among the rails Pennsylvania Railroad hondt JMr strength. Eeaboard, adjustment (s mted up sharply and good gklns wore made by thaJCrts Issues. Other issues wbteh; advanced were the Great Northern bonds, Baltimore an OhloV Chesapealu and Ohio, aad Bouthsrns. Nsw ITork Central (s sold at ooe time at 7." a fair fractional gain. iAitW-eii)tVnltXiM'rn Belgians eontlhued1 ami.

Braklla "were heavy and Scandlnavlaas steady. la bho New TfoPk traction wrona Interbero bonds ftdyanced, Third Atsaua issues gained a did the Now tork Railways nor cent eertlfleates.1 IndnatrUl enern held iteady to flrnu jrrnciia isatrit tJUkts wtskda ai apoTi below 87. tls.l INpygTKlAtjk AND RA1LB, the tlAmerlcan Astr. Cheat, deb. Wlet.

INDUSTR1AU AND RATIA. Do 4s 14 N. N. and H. ov.

Is. 33 Do 4s, 1)51 cv. ihi 1 New tork Dock Co. 4s 1 Kw York. Ont and West 4s.

I Do sen. 4s lftUfew York Railways ot. 4s. v. llf Do cL Is York Edison IHs ltiNew York Tel.

Is, 1141 91 Do It, II4S York, W. snd Boston 4Vts lllNorfolk Boutnern ss liNvrtol ksnd Western ev. Do 4s Northern, Ptctno 4t DO IS Do It Do Is N. 4Hs Nor. States Power Is Do ft.

Texss and Msx. Nassau Elec. tt N. W. Bell Tel.

Ts nor. Amn. toiaon oa. ,1 New Una-lend T. and T.

Ont Power 5s Orlont 7 I Orecon rnort un ts ,..,,1.. Ore -Wash. R. R. and N.

ref. 4l 3IKregon and Calif. (jus uieei 1 Ttf Packard Motors Is 1 Pierce Oil It PhtledelDlria Rr. 4s IllParts-Dyons-Med. Is Pare Marqueiie Pactge TeL and Tel.

Is Peoria-and Eastern first Do Inc. 4s Philadelphia Co. Tdg. P. Lorlllard 8s w.

Public Service Corp. J. Is. Punta Alegre Sugar Ts Reading 4s Rio Gr. Welt col.

tr. 4s R. Ark. and La, 44 Rem. Anns Is Baks Co.

7t Standard Oil of Calif. St and iron Mtn. Is Do R. and O. R.

4s 8t and S. W. Is Do son. 4s Rt Paul and Kansas City 4tt. Seaboard afr Una It Do rer.

ts do SO). gouth Porto nleo Sugar Ho, Bell T. and T. Is 1... Southern Paelflo or.

Do re, ts Southern By, It Do sr. 4s Btandard at 1 1 INI Mill. IS and a. r. aaj.

ss Do Inc. ft ft ft Do It. Sinclair Oil Ts SlncKir Pipe Un Is Slnolalr Crude Oil IHs Htael Tube of Ami. Ts Tidewater Oil tis Texss and paamc ss Third Avenue ref. 4s Do adj.

Is ToU St. and West 4 friclty and fa. 1 Tot Bdtton Is Union racina ts Do cv. 4t CT. f.

Realty Storoa It V. ft Realty and Is. U. n. Rubber Do mi T.

g. Steel It t. (.,..,.... Utah Power and Light It Union Tank Ts, Union Pug Union Steeunthlp of Cepenhagsn Union Bag anq reper ts Va. -Carolina Chemical Do HI cv Do flrtt Tt Do TUs war.

Wash. Power Wsst ra. rower 7a. JJO ta Wlekwtre Spencer Steel Ts. Wabstn secena etWeatern Marylan 1 Western union DO It Weitlngheuee Klectrts Tt Wettern Paelflo Do nrst Wilson Is flrtt.

Do Is Do THs U. S. Uberty I Do nrst Do second do tnira 4s Do fourth 4Hs. fourth 4ks DO 1 Pb flrtt-teeond t.4 r. S.

Victory 4t do or 1 Do tVa rev. DO reg. ot int. BrabU IH4T Do It ftrasil Centraf Railway Beigiin iq Is of 'il ho et Do Ts-. Cuba la of A.

jacno-riavaa: ta Dem. Rep. Dominion of Canada It of ts 01 11 or ti Denmark Is do ts Dutch East Indies ft of Do It of 41.. francs 7Ht Do It a. B.

snd I. IVs of '11. Do of Halt! Japan tconq 60 first tHt Norway It DO tt Natharlsndt It IIQueemland Is II Do Ts ll'wedn It fUrugusy It tU. ef Mexico 4s 1 Do Is ef 14 4f Berne Is 5nrdaux It liCbristlanla It 'Copenhagen IHe I Danlsh Municipal Is ltiUyenf f. i MareelHet It Montevedlo 1 Pragus Mi 4 Pie Grande du Bui Rio Do Janeiro Is of 41 Do It ef '47 1 Pto paulo It stato Ta soiseens ft 1 Tokvo la ts 5 i F6RElSNMUK7ClPAL HUh.

SJ lour at I Htend r. Uliai st 1 fait fefl sU'fEd bmzmrnz 100.4l;io 11.141 lt.44 M.JO I 109.00 I 100. '11 IIOO.IO'W.J U. S. Treasury 4Ht tt.i 8.

yoRf o.tr lOjBoUvlft Is l.40 11.21 tl.io is.im 109. 00 tl.SI 100.14 ii Close. tin ths result of liberal amount of liquidttion on the part of those who have been desirous of taking their profits. It wilt recalled that at the high quotations of th year bonds la tha maft repreeented advances ranging from It to 19 points, and therefore profits la them to those who7 were a fortunate as to have acquired their eecumiti during the period of depression when bond prices touched tha lowest levels on record were larger than those generally realised quired them at the top prices of thA year, Snd have been desirous of sstabllthlng losses for Income tax purposes, selling of this chtfectet probably has not been targe, but sufficient to hevt some Influence over prices. Institutions are reported as having sold soma securities, but In the axin this ta believed not to have been larga nor much of a factor la-'thq bond tnarket generally.

Jtoney Tj WtnUfoi; Mosey market conditions continued shout unchanged throughout, ths week. nuctuauana being comparatively small. is known that the banks ttlll art experiencing considerably difficulty in finding ready employment (er their available funds at tha rates exaoted for both time and call accommodation. On numerous occasion during the past fortnight It It stated, oonildera bis amounts of money hava been left 1 1 over on the floor of tha -New Tork Stock Exchange uncalled The banks still are refuting to pert With their holdings of acceptances tor iny great extent and within the patt week tome of the leading Institutions have been purchasers of high-grade short-term paper at well as rferteln Government maturities. Thft fact, together with the disinclination on the part or the hanks to enter the Federal reserve bank as borrowers, Is Interpreted as Indicating thab there will bo no material stiffening In money rates In tht pear future, although at the January 1 interest and dividend date approaches, tt would not-be surpris ing If temporary firmness should be seen In money rates.

80 long as money continues at about ths present rates it would appear safe to assume that tht bond market after the turn of the year, thould undergo material betterment. flhort-term noted were unusually quiet throughout tht entire week, fluctuations being confined within extremely narrow limits, except In the foreign Government list, where rallies of fairly slsabls proportions took place. The United kingdom IHs as well as tht French THs and at rose sharply In sympathy with ths pronounced Improvement in foreign ex-, change rates, sod the optimltttt ex, presslon by a leading banker who re- cently returned from Europe. The acceptencemarket wat quiet and uninteresting 'with rates rtmalnlng unchanged, at 40414 Pr cent discount. Dealers portfolios have neon reduced by tht recent demand for blllt and there now la considerable scarcity of paper of this olatt.

Tha outlook It viewed with raw. a IT II C1nrinrart Bat Ooografhiral Ad-tantaget for Btaal MlUs. Eamtagawins yrefertotl and Ctnttmon. a ah oflcwrfi 0 Ftaal eSfportmtfT a Uli Tr7GCI trscui nrw to tat tst isrs. Plil1arllrhla.

rornbr Ta.rs k.s rrr. lalnlr bm nouiiut axcltlng alK-ut the na weal aiara. this Iradinf bt quiet. Kuyara are bemint atr. It ti-rs as If a tu-S aianr aa.a aanaini tfca qviat cunJill-e) ot the aiarkai.

At a (twra It Bora er l.aa ecaaaure en Iba tart of oensuiBtre to tet lewar carti-ra. bat alnisat sucraaa thus far. I4a etorka, wltJi na, raw salMMIooe evaa la rrtalaljr uard wuota, hava au mtwtiuiuai eita atoara oaal.re may have tut lacUnad ta fawr ballvidiuu A axt ae was siatr4 that ertual trmdlns. raluaa wart unvhantxi, hat aslant af tha local woul Ooalars bad tln Mtancrd thlr askius W'e te a la stook ventures, Furthermore, It Is mtoree iat TWa ivacs stated that aome th. a.liln oiaxe taae dra-uoly ee fc I or tut alaple wnra.

a vatiKa bont of has been by thoss who AnlJy wltk nut t'apl wools te a)l ran rs.iux set i tu a pou tor rt.sii a advance ef 4 eaals a prnne aliice Jhe trat the rear, kut attuaUr- tht tr raat In wowe a( his trade since tbe middle at ianaTu eimV Eo. at the Ut whrn woolt have iutt taari off la Th taale abowt Ida eaptatad eaadltioa et Sara, at tar as 4-lrablt ttlactlent la flweaa. asurad en a Wl, ehojje haK-blooOa ara up a cent. aeUInf Ihle wart In nodtrata alsJ lota at te c. white choice thraa-althtbe are brlairtnt wklch alee ravrnts an advance ol a ftat a aount.

The local oaaltre kelle tbaaa are varr rHuonablt quofatlaoa, ant pears an dial that the wools te will be baualit bwr la thle Mtn la the aar fetia-a, There ta, bewevtr, more the en meea- tlve aoioac local atanafaoturail te or nMaiaNKM. raw RI.hal. ThaTS St very real labor sharUf kara In the tettlle Industry. Mills hava baae "staallB4r bale Irora aanh ethar. IntucemeiHe ot varl.ua klada have bean iaa4t la ardar te keap mwiufacturlnc orraalaatioae sul'UlWd with kalp.

Thrre kae not ba.a, as rat, any or-tantssd effort oa tht Hart of mill eWoyeae 1 to uuta edvantate et tha tltaauon, kt nan-I asements raaltse this will ahorllr earaloo. In soma quarter! a.aianda are twlnf lorma-aftat invlar the jilracttoi, ef labor ieatlars, and the eutoemt mar be eapoiwlve te tht mills, unless Uuy tronsptly yield la tbe matter of waqe d.mands. Wool dealera txpact that wast liwfeasM will thanly be aatiounced la many branrhee ef tha Industry. It is not aaxtarstood kww this oaa be avaiSad uodrr tha elrcuia-siaacfa. la any tvaot, It la tailor llkaly tht labor ooat tla( Into Onaha4 foods ts oaa te be incraaMd.

and that this will make eaanafajtiursrs mora reluctant to a'vs full prlcee lor th.lr raw materials Is naturally te be expected. rORIIGN MABXITS. Peril, Decembar aTralin aa qutat ea the bourae te-day. Thrrr-per-e -nt rimtas Df sc. Hsehanto en Lotidoi Slf no Flvfpor-cent loan tit DOo.

1 he dollar a euot.i it Mr "jto. Our Ftash Service tells you When to buy tecur-Itles and what to buy. It Is a signpost which may point the road to your financial betterment. One Particular Stock new occupies an enviable market position. A full description is yours for the asking.

MONTGOMERY CO. 30 Broad Now York 5ES2S2SES2SES2S2Se5H2h Safety Largest Dividend Yield The TtletropoKtan Steel Co. dnelmuti, Ohio. -CAfUAUZATION: 3,500 tharet Cimulativt Participatinf Preferred, far tahe, $100; 10,000 shafts no faf common stock. FULLY PAID AND NON-ASSESSXbLE TAX FREE IN OHIO FREE FROM FEbERAL INCOME TAX 7eCiTcT i Preferred Tb4) JstttrontUthB SteeJ -tommr ormel oy stroup of well-krwi men trom otHtr large) tteel comptnlet tor toe nrpose' ef mttrafactvrlng Cold BoHed Strip said and Meet Cinetunatl'i Central Location, being ndTtntageoui In reaching all ittel centers both South Md Wert, bat Etpeclallir the Knormoat Local Martet for eold rolled ttrti nd band (rteel, meant a larger margin ef Proflt on production becaute of Lowey.

height lUte. Th frefbrr4 It Comolatlte and 1 PartMpate Wlta thp CcWnon In All Kara, tags Vp tm 18( nor retired lc part or "ta wtplo at th option of tha Company a.t My time after fttotrr 1. IW 7n). at 119 per hre and aerned dWdeodfi; It la 0 First Leaq on All Aateta ef the Comport? Inelodiag aurplui ftwda, -ortlC Ital, machinery, equipment, ete. Tha i1-defidt on the Common atoel( win all prob-, ability bo baaed on a prtco of 928 per inaro drawing aad The JtfTtaTit and Chairman et Board.

Ifr. Jtmea I. etrphenaoa, ef Tha Guarantee; Trtnt Co. an! Tbe' Cincinnati Iron Steel bat had man yeara of anceettfttl experience throtigh ooanectloBd with other larfe ateel companlea. at hat alto Mr.

Robert 8, Btawart. of The Stewart Iron Worli mi Tha U. 8. Jiotor Truck Co. The otter mdrattert of the UeruUve Board are equally prominent through their connection! with large tteel ltei(sfj.

fines other itf companies la which tha afttronelltav oftcere are associated with tman CtpitMUncZmt, Hate earned from i to 119 per annum It eDiruia not pe Gw.riKt. ror you to estimate the VaJa off rlo cr tin, Tho Companj; with Jta t-naH OapttaliMuon haa dindeni requirement of only 910,000 per" annum WW eh Ehoold Bo Earned rive Timet 0er la H-3, gTrltf to Both fetnmott and rro, erred Stockholderi Dtjldonda KtjnaUng i FartlaJ riymeiit Ont tAZrmt PATStSTf K' yiaa Twr easti order and bsUanco to hlONTHLX attraetlte. FAHfCA'Ta rnti ajj tho etoch yon purchase) rr yocn vks.z at pxes. pato smd wpward dlrldenit. Wt Ueto 'fwftH faMeef to prlof tola ati a Gordon ll HiECic XjrvTterrMKjTt Otociro BONDO CUSCmtWATf, 4.

MAIL COUPON TO-DAY 7, VesesaaUseaaaaaseaaaaVaaaaaaaaeaaaeaiaaaseaeewaaaeaeaaaaaeaaeewaaSaai ttordoa Med- pompuf, U1M Cantm l4 ClaClnMil, 0. (HhtTemenvyithotit ehltfttteti oa my part, pleut tend" fur infonnatioa Metropolitan steal Preferred aad Common BTocia. Name AUratt Osssissssass: I1T CCSI3 KAEXIIS. Ir-eVjItU, IST4lMi TO Tall gt lkl'L fNttW Ttirfc. Novdiibtr it.

fh 'atrMv VHMli toMTkst Wttal UH. haatlertsd and MltkJkd t-dy. Atproitmata prices per yard quoted by NlW lark tJI tn ana. riallvareaa tollowi PRINT CLOTH. 44t, I It yes.

to Ik I Jt le, M71, 4.71 yae, te Ik l.M Jfc ttie -la, 4.14 yds. te .11 aATMLNt. U-bk, I4alt4. 4.1 yds. te Ik .17 sUEtrrtNoa.

Mitt. 4 yds le lb riNUUKO GOODS, Appraitmau wkeleiale prtoat of taWhed sooua itutt Ickiaaa ta. a mA ea XII jy fiBehami at.ili eases .14 D.nlaae, it m.a.iare prlott .1014 tkid aoitked cejasrtoe Sew to Tit, Paraniber 1 Crtto foods ere quiet re-day, wlta prtoae (rtaa.ly. ere le-a Salve and eeataoelons front top Mklaq ta-loaa are aatlcipaaeil, U.iea aamr-keta art ami, wnk trade fair. Hurta.ee were quiet auii krm, Mlka eald inodenMeiy, many cleaa-eb lota ktlee oltared ky iebbera.

Weol pda war steady. amiz vrntt kuxri. treat pnrarra to ii tma. New Tork. December I.

Tha crude mh. br WMtrlrrt for the cerrent w.ek hae a-f PUTS Ct CALLS to iRt eontrolt toe tkirae ear Dated stock ea N. V. Stock Exokaaae. Na further rlak, sieve et I point (rota eotloa prloe glree yea opportunity te take Itot Prom: I IS40.

eta. write for Free circular. Ztiiin tt broaS st h. i. I SB Ubuehed a Ibtl he not sIikw lunJ aiitH-mte ia amik4 nMMKt ati.t aM.I mat kit.

rrrpe kewa rrra ttc, auilr I H'-, uprl.tr Sna Ho. coara He, l-land Sue IJv. coarea ltc 0ih4 ball p- par ltd. 1 VfJILw. lifaaslL by fara.ee baak Baa etPcrlrard ta saoot all drpartmeolai eaa faraiak rrl-ereare aad baad.

fc.ial 1RI-1U I -i. TAX FREE PIUS Flva etperlrnceH anlenlatllrt for puf Talking RIchliie) 'Drinrt-nien. Apply to Manager, MAY, STEIt Fifth itf Kim sts. to We are ta a position to promptly make loans, In any amount In otlr Real Ketate Mortgage Commercial rinancln Departmente. Con struction Loans.

Flrsf and Eeoond ktortgigea Installment Sale Notes oa automobiles, trucks, etc purchated front rtiponilble Dealera. Manufacturer! and Dealers financed on whole-eale purchasea stored ta warehouses. Resource 13,100,001. Call or write. cixciitsATi pixANCE confAitr, pixie Tersalaal Mlea Clneiliatl.0.

HAROLD C. EUST1S Member Cincinnati Stock Exchange Investment Securities Collateral Loans 90S Fourth National Bank Building MtVM Central Ohio Finance Co. Stock A CJnclnnnti Institution. Uefore Invtttinc or reinvesting, Inveetiirate this tuperb opportunity. Maturing uecurltlct accepted tt cash.

Circular on requett. THE RUDOLPH KLEYBOLTE CO. Betabllahed ISI. tt tt.i. i.ir.

Tel. Mala 1302. le Stephen W. HcGralh Tax Service Co- CINtlNHATt. WAtMWaTOSf.

A personal tervlce organized to render asalttance in all phases of accounting, particularly tuch at detergilnation and adjuttment of Federal Income Tax 11a-' billty for prior Stephen W. MoOrath, Prea. William rhelitn, Sec'y. Frank A. Bennett, C.

P. Capt, Victor HelnU, Xreaa. (Jeneritl Counael. Alfred 3. Bernena, C.

P. A. Wm. M. Clawton.

1021-80 Keith Bldtf. Cincinnati. Phone Canal 4449. Wi are Interetted in BUYING AND SELLING STOCKS American Rolling Mill Company American Seeding Machine Company Cincinnati Gat and Electric Co. Cincinnati Street, Railway Co.

CintL and Suburban Bell Telephone Co. Columbus Railway, Power and Light Co Dalton Adding Machine Co. Globe-Wernicke Co. Procter Gamble Co. Pure Oil Co.

6-t Pfd. Ohio Bell Telephone Co. U. rnntmg ana winograpn U. S.

Playing Card Co. Bcnj. Bartlett 4 Co. formerly George Eustis Co. 103 Union Trust Telephone Main 490 Main 491 Main 1523 Announcement Walter, Woody Heimerdinger Dixie Terminal Buildlnt Cincinnati Starr Walter, Mar ton H.

Woody and John G. Heimcrdingct, formerly as soclated icithj. Mayer 6 have organized a partnership to deal In municipal bonds and other high-grade securities. Telephone Main 5072 DISTniDBTOHSVANTED THE tale of the welMmown Automatic, Oil-BumintfSyitemi la being extended to Ohio, and application! for distributor in Cincinnati territory will be entertained Only a butincM man or concern cf the hi.mt caiiber will be contiderccl Mutt have capita! to fhiance hit own buiincM, to ettablith ahw roomt, talea organ izaticni, Thia i a bij jjrepoiition and njutfpe done in a big way, with bigprofiti aitured. Clcoest examination cf past performance cf Western diatributor and impection of equipment invited.

iyt.f-fit eoTnidcred, by far, the highnt data oil-n. bumin equipment. More being told in Central Wettem cities than other lyitema combined. Great demand witting everywhere. i Oateleer waoeialee will fce tho tMoti la Ik.

Va, Utare wl.aeaa.l-l- strata. Write ere-laleaeat, stallasi krtear toow ej.llatle-ie 0d fawHHIea, tuvtalaw ef vviaeiow Filler navaeerws Sfl t. tl, Calrexr..