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Costs Less Than $9 a Day

The cost is less than $9 a day for minimum first-class passage, including bed and meals on steamer. Go East by Panama Mail and return by rail (or vice versa) for as little as $350.00. (This price does not include berth and meals on trains.) Panama Mail Liners leave San Francisco and New York approximately every 21 days. Book now for SS ECUADOR, January 7; SS COLUMBIA, February 4; SS VENEZUELA, February 25. Westward from New York, SS VENEZUELA, January 21, SS ECUADOR, February 11, SS COLUMBIA, March 10.

For illustrated booklets and further details ask any steamship or ticket agent, or write to

PANAMA MAIL S. S. CO.

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& Sons, Inc.

Cumulative 7% Preferred Stock at Market to Yield About 7.5%.

Class "A" Common at Market to Yield About 6.3%.

The excellent economies effected through the "Four-Store Buying Power" of

CITY OF PARIS, San Francisco, California

B. F. SCHLESINGER & SONS, Inc., Oakland, Cal.
OLDS, WORTHMAN & KING, Portland, Oregon
RHODES BROS., Tacoma, Washington

are reflected directly in the earnings. The ability of the management is well known.

Earnings and management are primary considerations in selecting securities.

Further information on request.

GEO. H. BURR CONRAD & BROOM

Incorporated

SAN FRANCISCO: Kohl Building LOS ANGELES: California Bank Building SEATTLE: 797 Second Avenue

HOTEL MARK HOPKINS

NOB HILL

SAN FRANCISCO

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