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A LETTER from an Investor

who owns

$1,800,000 in Securities

"I HAVE just received and carefully gone over

the analysis of my investment holdings which you have furnished. I want to thank you for this analysis, and to express my very great satisfaction with the work done.

"I had no idea that an analysis such as you suggested to me would be nearly as complete as this is, nor that it would convey so much information which is vital for the investor to have before him. Entirely aside from the tabulation of securities with rate and income yield, the very thoughtful comment and advice on the various securities are especially appreciated.

"Never before have I allowed a bond house to have my list, or any part of it. I felt that they would only use it for trading purposes, and I was convinced that any investor who allowed his list to be so used would gradually find himself holding securities of less and less value and salability, because of the temptation

to trade securities carrying a premium for those offered at a discount.

"My list, I am convinced, will in no sense be used by you in that way. You have proved this by the comments and analysis of my various securities. On the contrary, I feel a sense of protection that I did not previously have, since you are now in a position to advise me in advance of any possible trouble, thus giving me an opportunity to get out of a weak investment.

"I beg to assure you, therefore, that this analysis is of very substantial value to me, and I wish to thank you very sincerely for furnishing it."

This letter to us from a Chicago investor reflects the value of the investment analysis service which we rendered. This same service is available to you. We will gladly send further information upon request.

The Compton Investment Service Department, an outgrowth of forty years of experience, has proved of substantial value to investors. You are invited to make use of its facilities in the analysis of your own investment holdings.

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New York,
Boston, Detroit,
Cleveland, and
Stock Exchanges

Chicago Board of Trade

New York

Cotton Exchange

OFFICES: Boston New York Chicago Springfield Worcester Providence Portland, Me. Concord, N.H.

New Haven

St. Paul


Cleveland Houghton

Grand Rapids

Confidence in Your Investment Banker

ONFIDENCE in the professional ability of your In

Cvestment Banker is just as essential as confidence

in the professional ability of your Doctor or Lawyer.
When confidence is properly established, the invest-
ment banker can serve his customers best.

A letter telling us your investment problem will
be treated in strictest confidence and will place at
your disposal the cumulative experience of this in-
stitution gained over a period of forty-seven years.

Paine, Webber & Co


82 Devonshire Street

Founded 1880

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The Investment Company of America

AN INVESTMENT TRUST Administered by a Trustee Corporation organized under Michigan law

with Current Resources in excess

of $10,000,000.00

Affords investors in its Trust
Shares the benefits of an Invest-
ment Trust program in which
investments are selected after
most careful examination, broad-
ly diversified and subjected to
constant supervision and review.

For information on this
Investment Trust address

Members New York and Detroit Stock Exchanges

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"Stock and Bond Register." A record showing the in portant features of each security which is held by investors Offered by Otis & Company, 216 Superior Street, N. E., Cleve land, Ohio.

"Survey of the South." A booklet showing the wide range of the South's natural resources as a basis for sound investments. Offered by Caldwell & Company, 300 Union Street, Nashville, Tennessee.

"Investing for Safety." The newest publication of S. W Straus & Co., 565 Fifth Avenue, New York City, describes detail the methods followed by this organization in underwriting first mortgage real estate bond issues.

"Looking Ahead Financially." A helpful booklet en a very interesting subject-visualizing the factor of age in the financial affairs of men and women, and intended to help vestors to build out of current income an accumulation property to provide permanent income. Offered by Hale, Stuart & Company, 201 So. La Salle Street, Chicago, Illinois.

"Chain Store Securities." A booklet containing a thorough discussion of chain store systems explaining why they furnish an excellent basis for investment securities. Offered by George Burr & Company, 57 William Street, New York City.

"Foreign Dollar Bonds." Pertinent information regarding nearly 400 foreign issues offered in the United States is present in the tenth edition of this booklet on international investments issued by Brown Brothers & Co., 59 Wall Street, New Yak A new feature of the booklet this year is the inclusion of genera statistical information on certain of the countries covere1.A limited supply of these booklets is available for distribution to investors on application.

"How Much Should I Save?" A booklet explaining tw? well-worked-out systems of accumulating money. Of particuar interest to those who wish to build up an income by system saving. Offered by the Old Colony Corporation, which is o by the Old Colony Trust Company, 17 Court Street, Boston. Massachusetts.

"Why a National Union for Safety." A booklet describirs National Union Mortgage Bonds showing how securities a safeguarded through insurance of principal and interest outside surety companies. Offered by the National U Mortgage Company, 111 E. Redwood Street, Baltim Maryland.

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The Power Which Conquers the Mountain Grades Will Bring You a Safe Income

Without puffing of smoke or chug of steam....


a coursing greyhound of steel...
a thing of ponderous power, unwasted energy
the electric locomotive smoothly hauls its
great load over the mountain grades. This is
the giant strength of electricity.

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HERE will be many gifts, yours among them. But ours will be the only one Dout which this can be said:

It will be used during the

It will be used during the

As each anniversary rolls
around, it will still be in use
just as good as ever.
They will treasure it more and
more as years pass and it will
constantly remind them of
your thoughtfulness.

an't you imagine their gratitude? o you think that any gift will be = precious to them as movies of eir wedding? How delighted they ill be to show them to those friends ho could not be there. How dethted they will be to show them ter on to their children. How they

will love to look at those wedding and honeymoon films when youth has gone! Meanwhile they will be using your gift over and over. With the Ciné-Kodak they will take many a movie of each other, their friends, and their children. They will take pictures of their parents . . . pictures that will be a permanent record of those they love and cherish most.

Suggest that they begin taking pictures at once. The bride and groom by a window... before leaving the house (the Ciné-Kodak, f.1.9, for example, takes wonderful interior pictures). The bride as she alights from the car in front of the church. The guests as they enter or leave. The bridesmaids and ushers. The flower-girls. The reception afterward.

How the bride and the groom will appreciate your gift of a Ciné-Kodak

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