Boston Post from Boston, Massachusetts • Page 14

BOSTON POST, MONDAY, AUGUST 2, 1920 American Telephone Telegraph Go. A PuMic Utility wblch under Government control earned adequate propUim fw and obsolescence) the interest on its debt, dividends of on its capital stock and a surplus; a company which on its return to private ownership immediately resumed itO operation and has shown earnings available for dividends for the first six months of 1920 at the rate of approximately $12 per share of stock outstanding. We advise the purchase of the following, especially the Convertible Bonds due in 1926: Rato Solling about YMii 6 9.00 93 8.30 76 7.75 79 7.05 7.60 Notes, due October 1, 1922., February 1, 1924. Coll. Tr.

Bonds, due July 1,1929... Dec. 1,1946 Conv. Bonds, due Aug. 1,1925 Kidder, Peabody Co.

US Devonshire St. BOSTON 7 18 Broad St. NEW YORK ANSWERS TO INQUIRIES Each Monday morninf in thia coltnnn Inqniriea from roadari of the Boston Pott regardiiif all li.ted and bond, and all unli.ted and bond, of Now England Industrial, public utility, bank and mill cora- nanio. will bo answered. In addition, corre.pondenco and comment on other and on various financial topics will bo given spaeo when feasible.

All will bo answered in a thoroughly impartial way from the data available, but the Post, while believing the fact, and obtained from tfMtwnrthy sourcee, will not gaaranteo nor be held responsible for the accwracT of the information given. i Furthermore, the Post will not In any case give an opinion as to the mbablo course of the market or the price of any individual stock or the MlabiUty of individuals or firms. tn worHins to tho Ananeiai oditor, full name and of the temdrer tmmt bo given clearly. Many inquiry do noteontatnthe mdtn ooneoquonee have not received attention. all to giNANClAL EDITOR, Boston Municipal Bonds A diversified list of State and Municipal Bonds, including Canadian Government, Provincial and Municipal Bonds, at prices to yield from 5.20% to 9.00% on request for BH-320 The National City Company Correspondent Offices in over 50 Cities 10 State Street Telephone 8100 Main Bonds Preferred Stocks 'Acceptances A.

B. LEACH Inc. have removed to NATIONAL UNION BANK BUILDING 209 Washington Street (at head of State Street) BOSTON Aug. 2, 1920. number of manufacturers of evlndow glass with an output about 85 per cent of that of the entire country.

Capitalization consists of 14,000,000 7 per cent cumulative preferred, $13,000,000 common and $1,084,000 bonds. Prior to the war the dividend record of the preferred was very poor, and back dividends accumulated very rapidly, nothing being paid on the stock from 3904 to 1912. In 1913 earnings picked up very rapidly and were further stimulated by the prosperity during the war. Soaring earnings enabled the company to pay off all back dividends, 37 per cent being paid In 1914 and 431-2 per cent In the following year, and the balance for the preferred has been very large In recent years. There has been a sharp Increase In earnings on the common stock, the balance in 1913 amounting to 4.23 per cent, having steadily Increased to a record high of 27.18 per cent In 1918, and last year it W'as equal to 21.01 per cent.

No dividends, however, are as yet being paid on the common stock. MARKET REVIEW AND OUTLOOK pif Boston Elevated Nik TSa-Pleaso give me 1 wliat tnfomatloa you can jBoBton Elevated, particularly par value, property, and dividends, etc. Dorchester. Answer-Boston Elevated Is now being operated by a board of ftve trustees, ap- ipotnted by tbo Governor, under the special act of the Legislature, early In 1518. Under this act Boston Elevated Ts guaranteed dividends at the annual rate of 5 per cent for the of operation, then the rate is 51-2 per cent annuHlly for the next two years, and in the remaining six years during which the road is to under the control of rate will be 6 per cent.

The last dividend at the 5 per cent rate was paid early this month, and now for the next two voar.s the rate will be 5 1-2 Pares must be based so as to enable the road to earn the cost of service and vufficlont to pay expenses, bond interest, preferred and common stock dlvi- dend.s. This has made It necessary for trustee.s to raise fares to 10 cents, and at Prst there was considerable agitation against it, some people fa.voring public ownership. With the Commonwealth of Masaa- cbusetts guaranteeing dividends on the stocks of Boston Elevated, it Is pointed out by many that securttlea are practically In ths eame position sa gov- ernmsnt bonds. The only difference that at the expiration of the 10-year period of control the road will revert to the board of directors who will have the option of continuing to operate the road on a servlce-at-cost basis and pay a share on the common stock, but the State has the option to purchase the road at a fair valuation. Tlfere is a possibility that at the end of this period some new legislation may be Introduced to change the details of the guarantee of the State.

The par value of the $23.879,400 common stock Is $100. The road operates In the territory running through practically every part of Boston, by surface cars, subways, tunnels and elevated structures. City of Berlin Bonds Question No. you kindly give me your opinion of the City of Berlin 4 cent bonds at present prices for InveaSinent? W. E.

Lynn. Street Opinions More I tribution, but it certain' ket by Group Continues eERNIAN MARK OPTHWS Our special booklet describes conditions in Germany written by eye witnesses. It also shows how from 10,000 to 100,000 can be controlled for six months for a small cash payment. Write or call for full REIS LLOYD Limited, Ine. Xqaftable BttUding Milk Street, Boston Telephone Fort Hill 2760 Consolidated Textile I on Fresent Cost BeUtng to Yield Any number of shares can now be purchased around $30 per share, either for cash or upon a conservative open account.

Call or send for cur free special letter describing this and similar high grade Investment securities. Eatabilshed 1898 C. P. DOW CO. Formerly A.

F. Dow Co. P. Dow, Pres, and Treas. STATE STBKiET BOSTON 1 I For Chas I 10 ntA City of Berlin 4 per cent bonds are purely dependent upon the credit of that city.

In normal years there was no question whatever about the ability of the German government or of its cities to meet their obligations, but the existing chaotic political ant economic conditions have so disrupted the finances and currency system of the country that the bonds of Germany Itself and all its cities have depreciated to a very considerable extent. Up to the present time the printing pressfrs have been kept exceedingly busy turning out marks, so much so that nfiany eminent authorities are commeecing to fear that if this currency Inflation continues it may result in the marks becoming worthless. They who are of the opinion that City of Berlin bojids or German marks are good speculations base their belief on the possibility of the German government ultimately restoring Its finances to somewhere near pre-war conditions. That would mean that foreign exchange rates would ultimately be nearer normal values, and of course there would be a profit in the mark.s and In the governmental obligations. To rehabilitate Us financial condition, Germany first pay off the extremely burdensome Indemnity which the allies have levied which some authorities believe the country will never be able to do.

Taxation In that country presumably will be a heavy burden for many years, the Inhabitants, consequently, will be Impoverished, lacking buying power; and there is the possibility that poverty In the country may become so extreme that it will be necessary to repudiate some of the debts of the country. That, of course, is only a possibility, not necessarily a probability but as the Issue of German marks continue to Increase at the present rapid pace, the possibility of repudiation Is becoming serious. It was reported last week that the German bank statement showed a of 300,000,000 marks. This is the first sign of a change for the better In Germany currency Inflation. American Window Glass Question No.

you kindly give me some information concerning the American Window Glass Company? W'altham. -A. B. P. Window GHass Company Is controlled by the American Window Glass Machine Company, the latter owning practically all of the stock of the former company, which is listed on the 'Pittsburg Stock Exchange.

It WTS formed in 1899, acquiring a large The market wa's generally reactionary last week, with the result that the average price of the 20 industrial barometer stocks sagged off to a new low for the year. Volume of trading on the whole was not very lafge, but it tended to increase as prices declined, and the daily average of transactions was considerably larger than when the market was drifting along in the narrow groove which contained Its movements for the previous two months. The breaking through of the average of industrial stock prices to new low levels for the year, even though as yet the new low Is but little under that reached In the latter part of May, is in the light of usual experience to be accepted as an Indication that the main trend downward has been resumed. Already this average price Is off some seven to eight points from the top of the little July rally; and assuming that a definite movement Is under way, it is to be expected that the decline Is only half completed. That Is to say the secondary movements of the market In recent years have usually run about 15 to 20 points, and It Is reasonable to assume that this movement has therefore about as much farther to travel as It has already gone from the last high.

lAMES H. 61ASSMAN AND COMPANY announce the removal of their oiftces to Suite 26 Fiske Building 89 HT.4 TK ST. BOSTON, MASS. August 2. 1920 Fort Hill 0180-1-8 WILL BUY OIL LEASES Oklahoma, Louisiana, Texas or Kentucky, small or large block.s.

Must be. well located and priced right. Box the Post. WE WILL BUY SELL QUOTE ANY STOCK OR BOND LATEST REPORTS ON Chandler Motor United States Rubber Simms Petroleum Federal Oil ARTHUR M. HARVEY SI Cornhill Boston Street Opinion More Mixed While a week ago the leading commission houses leaned to the view that the line of least resistance was upward, at least for a fairly substantial rally based on technical conditions.

opinion now Is somewhat more mixed. The action of the market itself In breaking through the letel at which support had been rendered on numerous occasions in the past two months, la accepted by some houses as suificlent evidence that is breaking out again, and that the decline will not stop before a resting place Is found much farther down. But quite a number of houses still hold to the view that because of the absence of any marked Increase in the volume of sales, the character of the market has not definitely changed, and that it still retfialns a professional trading affair. These houses espousing the bullish side also, and of course with good reason, urge tha.t stocks are relatively and absolutely cheap, as measured by any known method. Numerous Issues are selling for less than their net assets, and some have net quick about equal to or in excess of the market value of the stocks.

Then, too, It Is urged that the bear market has been in progreas for about nine months and should, In the light of past experience, bo nearing its end. For this reason these hodses are advising the purchase of stocks on a scale down in anticipation either of the early culmination of the major decline or of the possibility of strong technical recovery. Undoing Market by Group Declines Bui while Scale buying almost always proves profitable, especially after nine months of a bear market, it must bo admitted that there is no present indication that the current decline has run its course. New lows are being made from day to day in various groups of stocks, and until this process is arrested and the mkrket turns dull and comparatively motionless again the cautious trader is likely to refrain from adding to his commitments on the long side. This so-called group reaction process Is not at all surprising, as It is the re verm of what was going on last year on the up side.

It may be recalled that during the buoyant Advance of last year the feature of the trading was the way In which group after group was taken in hand and pushed up, and that often while or more groups were thus being advanced vigorously groups were allowed to react or to remain stationary. Oftentimes while this group advance was going on It seemed that reactions were due, but the contention was made that each group was having its reaction and thus correcting its technical position while the main trend upward continued. The inverse of this Is the current, action of the market. Group after group is being lowered, while others holding fairly well, and the apparent strength exhibited by the stationary groups tends to mislead the casual observer to the Impression that the market is only weak in specialties and for special causes. Money Pressure Continues But the fundamental factor which has caused the major reaction since last November, tight money, la still operative, and evidently the pressure l.s as strong as it has been at any time during the year.

Bomewhat conflicting statements were Issued in the past 10 days by prominent banking authorities. Mr. Stillman proclaimed that money would be tight, for the rest of this year at least, while Governor Harding, head of the Reserve Board, made the surprising statement that the country was never in better shape financially to meet the crop-moving demands. The street was glad to hear this cheering remark and took occasion to rally the market on the news, but the rally failed to hold, and some felt that Governor Harding's statement was issued for the purpo.se of allaying uneaFi- nes.s. It appears obvious that not only is money tight enough to prevent any bull market than technical rallies but past experience shows that even when money begins tc ease the manket Is npt ready to start a broad upswing.

For after a protracted strain on the money situation an easing of that strain is only accomplished by contraction in Industrial activity, and it is not until this contraction is completed that the market ready for another broad upward movement. How the street will take the an-, nouncement of the freight rate Increase remains to be seen. Certain It is that an Increase of 40 per cent In the Eastern territory, 35 per cent In the Western part of the country and 25 per cent In the Southern and Mountain Pacific territory is very favorable to the roads, and should enable them to show considerable Improvement In earnings. Some people have expres.sed tlie opinion that the way the market has been acting in recent days was indicative that when the market opened on Monday the favorable effect of the decision might be reflected in a sharp upward but that It would not be followed by a broad upward move. In other words, that the market had already discounted such a favorable decision.

Others felt that for the long pull the decision was so important that the recent strength of the rails was entirely insufficient to reflect the acual benefits which would accrue to the roads. -Financial Notes A prominent New York house in cona- menting upon the great reduction in loans during the past year makes the assertion that total ioana now amount to only about $800,000,000. It is then estimated Aat the aggregate value of all securities listed on the New York stock exchange amounts to $100,000,000,000 and that therefore loans of only $800,000,000 means that only 8-10 of 1 per cent of securities are not paid for in full. While the figures thus presented doubtless fairly accurately achieve the object intended, namely to show that securities are in the main held outright by bona fide investors, it would seem to be stretching the facts somewhat to claim that all but 8-10 of 1 per cent are thus owned. In the first place, stocks carried by brokers for customers are carried not only by bank loans but in part by capital.

How much total capital of the is cannot easily be determined, nor again how large a portion of it is in use at the moment to carry margin accounts or securities in process of dia- certainly must amount half as large as bank loans. Then again a very large amount of securities is carried by investors and speculators on direct bank loans without any assistance from the brokers, and it is probably not putting it too strongly to say that these private direct loans the country over exceed in mount the total of loans. The bears are endeavoring to belittle the optimistic statement of Governor Harding of the Reserve Bank, but it will be recalled that Mr. Harding many months ago put out a statement to the effect that inflation had gone too far and that contraction was in order. At this time the bulls made light of the Reserve Bank warning, but soon after the long decline in the market started.

The recent statement of Mr. Harding is looked upon by some as having con- i siderable significance marketwise. The writer has reason to believe that after the crop moving is completed, the bank authorities will not be adverse to a higher and more active railroad list. It is felt in important banking circles that it would greatly help the credit of the railroads and the credit structure i generally, as well as facilitate necessary railroad financing if railroad bonds and stocks were at a higher level. Brokers will be bbliged to charge their customers close to 10 per cent interest for the month of July.

New York brokers are charging their Boston correspondents between 9 and 10 per cent. For accounts carrying all local stocks the interest charge may be a trifle lower. Traders naturally dislike very much to pay such high interest charges as have obtained in recent montlw and are reluctant to take on new comiiitments, yet when money is 4 per cent or 4 1-2 per cent they will accumulate everything in sight, and later carry stocks down for a heavy loss. The history of stock speculation shows that when money is almost impossible to obtain good securities are pretty close to bottom. It is poor economy, from a speculative point of view, to let money rates keep one out of the market when stocks and bonds are on the bargain counter.

Gold Notes tc Yield 8 Per Cent. Gold Notet of tho COLUMBIA GRAPHOPHONE MFG. CO. Each $1,000 Note wull with it the privilege, at anv time after Feb. 1.

and on or before the maturity or redemption date of such note, to 3 shares of common stock ot the Company at $36 a share, which price shall be reduced if the Company issues additional common stock for less than $35 per share after Feb. 1, on For six months ended June 30, the Net Income of the Company, after allowance for depreciation and all taxes, approxhnated $2,900,000, or at the rate of over times all interest, including the interest charges on these Notes. We offer and recommend these Notes for investment at 100 and interest, to yield A. B. Durell Co.

INCOKPOBATED 15 Congress Street, Boston (9) Telephone, Fort Hill 3511 WATRRFRONT CALENDAR FOR AUG. 2. 215UI dsy of 7 esr; 4.3d day of snmmer. Day i4h. 26m.

long; decrease B3m. Oft. cTenlng, 6ft. 31n. Full 29, Sept.

27, Oct. 27. New 13, Sept. 12, Oct. 11.

Krenlng Saturn, Mars, Venus. Eleven steamers arrived In the harbor yesterday. Among them was the Se- pulga, from Port Mexico, Under Captain McKessum, bringing 76,000 barrels of oil consigned to the John S. Emery Company, for the Boston Oil Company of Boston and Malden. She put up at the Mystic River wharf in Everett.

The Governor Dingley, from St. John, N. with Captain Ingles In charge, brought 403 passengers. The Prince George, front Yarmouth, N. had 413.

There were also three tugs among the arrivals yesterday, all the Clark and Perth -A-mboy. Five steamers departed from local wharves, all on coastwise voyages. THE LANDSMAN. SHIPPING NEWS ARRIVED. Steamers Prince George Yarmouth N.

Oovcruor Dingley, Ipsalls, St Bomba, Forest. Baltimore; City Lamen. Calvin New York; MnesBFOit, Jonesport. Malden. Boyer, Baltimore; Norfolk; Sprlngflcld.

Foote, hlran. Crowell, New York; Port Lobos; tug Wyoming, Clark, Perth towing burges. SAR.BD. St. N.

P. Battalion Lost Heavily at Vilna WARSAW, July 30 (by the Associated was brought Into closer contact with the front today by the arrival, In a shattered condition, of a battalion which fought In the defence of Vilna. The battalion suffered heavy losses and is now being reorganized. Mass has been held in memory of the en soldiers and others who fell da- fendlng Vilna. Anti-aircraft guns have been brought into play as part of the fence of Warsaw, as the Bolshevi c-i are now using airplanes In their northern drive.

Many civilian organizations are being given parts In the plans for defending the city, some of them being assigned to guard the bridges over the Vistula. Amusements Amusements Amusements 2 Walk from Scollay Hq. Around the Comer on Court St. Fnmlly Resort for Ladies niid Children. Remember the Morning Show at 11.

The Coolest and mOHt Theatre In Boston, made possible by oiir perfect system of ventilation. A STORY OF THE WEST THATiS A HUMMER A ofa man who was ml ano and a a ao Wfls flu RT OUT IN THE DESERT THEY MATCHED BRAIN AND BRAWN TO WlN A GIRL. WHO WON 1LARRY MOREY in "The Onuntlot of CHARLIE CHAPLIN in His Comedy SncceSB, EDDIE POLO In tho Sensational Serial, Vanishing FIVE VAUDEVILLE ACTS NEXT Maurice Tourneur presents NATHAN H. GORDON announces to all amusement lovers that the OLD SOUTH THEATRE will soon be added to the big chain of Gordon Theatres. ARTISTS AND DECORATORS are working day and night to make this an amusement palaoe.

The theatre will be RE-OPENED MONDAY, AUGUST 9TH at 9 A. M. with a great day Evening Post Story. "THE YELLOW TYPHOON" featuring Anita Stewart, who surpasses her triumph In the recent wonder-play, Old The prestige of our continued and unrivalled successes will stand as a guarantee of excellence to ell of our patro'ns. old SOUTW THEATRE WASHINGTON ST.

OPP. MILK ST. SPECIAL FOR WEDNESDAY NIGHT BATTLE MUSIC HUM AT autical REVERE BEACH EDDIE Si HELL AND HIS BOSTON JAZZ and STHACHAN AND HIS 5AXO-MARIMBA ORCHESTRA Contlnuons Dancing Till Midnight THE ALL DAY SAIL The Year to Enjoy This De Luxe Vacation Day Trip YeOldeTowne By the Sea 300 Years Old See the Relics A Wonderful Sea Trip With a Panorama of the South Shore Coast Line Steamer South Shore, Daily and Sunday, at 10 A. M. Fare, Round Trip, inc.

Tax Children under 13 Observation Dining Saloon Lobster Dinner $1.50 The Entertaining 5-Plece Mayflower Orchestra. Staterooms Reserved Steamer Leaves from Wharf SECOND MONTH The second month of the Morgan Memorial vacation school will open today advanced classes In the various summer studies at the Shawmut avenue institution. Pay Military Honors to Dead North End Soldier Funeral services for Private EmillO Brogna of Company, 86th Regiment, U. who was drowned at Camp Devena Thursday, were held from St. Church, North End, yesterday.

The North End Post, American Legion, escorted the body to the church and paraded after the services with the funeral procession until the cortege was outside the North End. where the young man had lived. His people live at Cleveland place. A squad from Camp Devens accompanied the funeral party to St. Cemetery, Mattapan, where the customary final military honors were paid as the body was interred.

Special Exercises at St. Leonard's Church The observance of the day of the Sacred Pardon, in commemoration of the life of St. Francis, founder of the Franciscan order, was held at St. Church, Prince street, North End, yesterday, and the church was visited by The obsem'aucc will continue today. Services during the day tvere conducted by ihe rector, the Rev.

Anthony Souza, O. F. BRAVES FIELD Heme of Big MAMMOTH FIREWORKS DISPLAY Tuesday, Aug. 3 Concert by B.and of Boston at 7:80. Fireworks at 8:.30 Prices; 85c, $1.10 Tickets on sale at Wright SightSeeingRoyal Boston.

Lexington, Concord, S.alem. Marblehead, Gloucester, l-C Plyfnouth in luxurious automo- JiLlxI, biles. Distinctive service. Longest trips. Dependable.

SIGHT-SEEING YACHT I sail down to the ocean. 10:15 2:15 P. three-hour trip. Inslat on OUR tickets. If you cannot obtain, phone Back Bay 114.

Ask for our free map and guide to Boston and ROYAL BLUE LINE Hotel Bmnawiek. PARK SQ. Telephone Beach 198 OPENS AUG. 9th H. H.

Ftnn rfiri Dnikil My Lady Friends witli JACK NORWORTH SEATS TOMORROW SPECIAL ATfRACTIONS TOMORROW, TUESDAY Battle of Music. Crescent Gardens Singing Orchestra and Goodspeed's Popular Jazz Orchestra. Continuous music till midnight. EVERY NIGHT THIS dancing by little Edna and Leonard Gallagher, Juvenile of tho east. They are If you see them you will say so.

TWICE DAILY, 2-8. Tel. Beach 1724 BILLY B. VAN and JAS. J.

SPECIAL ATTRACTION MARY YOUNG to J. M. ROSALIND coRrmr Htrrf Cmiiw, WillrW Di Cthir i laxea, Mar- ply A mo, MiMi Bn- El Btv titters. HORACE GOLDIN AUBURNDAI.K OPEN DAILY AT 10 A. M.

2 Shows Daily 3 8 P. M. The Entire Week Dancing 7 to 11:80 in Rostaunnt TUBS, and FBI. nt 11:30 A. Morning Show tor Children, Twinkle." AI.L SEATS 5c.

Children's admtswlon to Park till noon Bo FENWAY PARK ir Your Next Sunday Auto Trip August 8, St 3:30 P. M. (Only) SOUSA AND HIS BAND $1.88. $1.10, 55c Including Tax Now at rpheu JU Heart of Shopping District 9:15 A. M.

to 10:30 P. M. BKRJSIVICI BROS. In Night In GllT an aU- ilfiir "LnteBt News and WANTED Tivo high grade sale.smen to represent us for the sale of stock in La Santa Lucia Gold Mines, Ltd. Apply H.

C. Crow, 184 Sunnyside Toronto, Ont. FOR SALE East Coast Fisheries Pfd. and Y. T.

Com. Lamsoil Hubbard 6. F. REDMOND COl Inc. 10 Stmte Street, Boston 4 Phone Fort Hill tAsk for Caiielcd Dept.) CITY OF VIENNA BONDS The Normal Value of a City of Vienna Bond is TWO HUNDRED and TWO DOLLARS and SIXTY CENTS.

We are selling them today for SEVEN DOLLARS and SEVENTY-FIVE CENTS. The normal value of 100,000 CROWNS OF BONDS is $20,260.00 The cost today of 100,000 CROWNS OF BONDS is 775.00 THE PROFIT TO BE MADE is They are precisely similar to a bond of the City of Boston. A Direct Obligation of One of the Most Beautiful Cities in the World with more than two millions population, with its entire wealth and resources pledged as security, bearing interest at the rate of five per cent, free from all present and future taxes abroacl, a legal investment for Vienna Savings Banks, instantly salable at any time, they are an investment of extraordinary attraction and offer an opportunity to make a profit of MORE THAN TWENTY-FOUR DOLLARS FOR EVERY DOLLAR INVESTED. Complete detailed information and price for the day, sent upon request. A.

W. LINCOLN COMPANY BANKERS Government, State and Municipal Exchange 10 POST OFFICE SQUARE, BOSTON PHONE MAIN 1641 sr. FIRST TIMF.S IN liOSTON MARSll.ALl. EVER 5 BIO AC TS YAUDEVILLK iMtt 1 I la Advanii Fm Alto Ptrkiat starring MAY ALLIBOX Dig VaudeviHe ALLISON in Five Beautiful of Vaudeville FOB THE nSHlNG King Philip, Cnpt. Edvr.

W. Dixon. $1.76. Commercial Wharf Delly and Sunday at 10 5:30. Lines, Bait Free.

Matron Mtw a a d. xBfflfltolflip PRIZES counter on board. BRAVES FIELD Home of Big PIRATES vs. BRAVES TODAY AT S.15 Tickets at Wright PARK THEATRE MOND.AY AND TUESDAY MARGUERITE CLARK IN BY A Paramount Picture Marjorie Riun- beuu in Fortune Select Special, BOSTONS Fred Sloan, Kirby. Queen Hewitt A Mitchell, Jennler Kino.

CMmedy. Topicw. CONTINUOUS A. M. to 10:30 P.

M. BEACON Fighting DORIS KF.NYON in CARTER DB UAVBN in "Vacation TREMONT THEATRE Klaw Erlanger, Managing Eves, at 8:10. Mate.Wed.(Pop.) Sat.2:10 POP. MAT. WED I ats $2 SUMMER BALLROOM Revere Beach.

Dancing Every Eve, Attraction All Week BARRETT McCANN Popular Broadway Favcrites DIAMOND RING COMPLTITION Tomorrow Night Darning 'rill 12 dORPOHXfgn MARSIIAI.I, NKIl LN presents EVER A MATRI.MONIAL 5 BIG EXETER Near Copley Square ContiniiouH 2:15 to 10:30 M. Tt WED. of tho by Gertrude Atherton. Wallace Held IV'm. FVivershatn In "Ihe Man Who l.o«t Billie Burke in Goes CONTINIOU8 10 A.

M. to 10:30 P. M. MODERN Fighting DORIS KENYON In "Harvest CARTER DK 11.WEN in i ll Starving May WASIIDUKV in of St. Anthony" Fro-j.