No Securities to Sell 
Th, 
w= 
Gus 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 in- 
vestments and believe that we are capable 
of giving sound advice regarding the rela- 
tive merits of securities. 
We make no charge to our clients for in- 
formation 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