No Securities to Sell

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 DECLARED PoricY to which from
its earliest history our house has rigidly
adhered is that we do not sell securities to
our clients. We buy and sell securities for
our clients on a strictly commission basis,
and do not, as dealers, trade with them.
Charges made by us are the standard
commission rates.

We give close attention to the study of investments
 and believe that we are capable
of giving sound advice regarding the relative
 merits of securities.

We make no charge to our clients for information
 or suggestions furnished them.

Our opinions are not prejudiced by reason
of any interest involved due to ownership
of securities.

~~

.
Jas. H. Oliphant & Co.
Established 1898
Members New York Stock Exchange
Members Chicago Stock Exchange
Members New York Coffee & Sugar Exchange, Inc.

NEW YORK
61 Broadway Offices connected
Telephone by private wire
Whitehall 2200

CHICAGO
The Rookery

Telephone
Central 7691