n'VW'$Ai0l! ' wri mw"""' K'1'1'. "Pff SWBffrkTsWPF' W ""wr '?'-& &9Zmwrf-r N& 14 EVENING LlflDCJEK-IJHIliADKLPHIA, FRIDAY. JANUARY ljWOrT "I AM THE MAN" YOU Irrmt lo mcd U J" w'sli id mnke motify with llltle rink. Kl otiu man In ".?"" n;i,h2 .torn iimWutnnila thfi rrmi led I part nf tho bualnnn. heme much '" Fa last which might hna lin il. "t am ? practical oil and rnln. npara tor. Aa tlU mananer I , rjlyfl a J Uriw aalan aa any enlnr In tho 8outhiTt,at. Kvew m.mbor nt th ,'"' J?.1?; mtrcffl club In tho rtlatrM "orrllnj Ita atcretary. sotnl tor in t?,i5JpI5 Mirrtary ami minor of J to-lf chana. whlrh Ihrv jirtjan tr.1 In W Wild Caf atocK Johhlnn ln4l'a than alt month after mv ''"''"" "'' tha "Wllil Cut rompini a wora ii; if hualnMa I wlirt tmn e-ci "'it of fti"n vota of ihi IwiM of 1 : Mtora Irs looal truat tompany aril wu eltet.il aa tta pr.ald nt and rain- ! 'had aarral o-har ,po """ "J ftt thntit im m and f nMr ilMad nrSer bond a hid th cuatoJy of lara minus nf moray I waa ttl to ttuao poaltloni i and a flatil mannit'r for Inrira nparatIM ramnanVa In laa than tan vaara oflr aont from ha i:aat to lh Botittj. ..itit an mtlr .trimswr ao t mu;t havi "nvlnr.il a (traai many poor that Sh homsu ami had aatne t have rum. Hal to an'er th Mn.i init and Block lirolt'raaa hiialwaa and to dlon aome of my oil and inlnltiR "'SPr'ill'ianil la mirrmiml-.l hv awh comranlr. aa mardird OH. Ta, OH nd the Uul llfflnlnR Call m on tho-tlnhnna anv -v.. rln at my horn-. In SI MiiM'i t' Telephone "Wayn- Stilt " or writ" mo ndmalie nppqlntmeni for m. In cat on soil and explain how to lie; Sma one of the ptninntera in tnv Prat oil I companv before 1 open mv ornea fir bo.lneaa and malt, a nubile offer. In of mock at ntirea, which will to a areat deal hlffher. I haNa no literature or iirnan'i'tll and will not write letiera tallinit mv plana A peraonal Interview I. !.... ?irv to et In on the urn-mil floor Will produce reference, and proof, of my claim. J r " -' SI i"iua road Wain.. Ti .toMiE$ MfMMm sroraie 1 v&3 m m 4 5 P H H q Three of the tic Standard Oil subsidiary com;inlei will ihortly ratify Incteaiei in their capitalization, which will lli ihircholderl itock tonuiei tansiae from 60r ta 3C0C".. ' And there are ill mor. of the Standard Olll which liara accumulatoil sufficient iar plum to Jmllfy notrhy !! trltmtlon of larra dlridenrtt to itockholden. q The nine tubildiirlea In qneitlon. alone with general information coyorinc the Standard Oilt. ara IKtrd In our fortnlfhtly publication "InTtslmcnl Opportunities" f) Anyone who la Interested la lncreailnx the .amine power of hit lurplni fundt ihould rerilarly receive this valuable publication. It will be lent iclfaout rnrirpr. to rlnnlnr with current Iiiua, npon request for SS.rL, In dudlnc hoolilet dotalllnt; "The Twenty Payment Plan' 1 kvrvtmerviyEcuriiic Wl iijiiiiiii iiiiim 'wA dj Exchange Place N'rw Yor W3 United Lt. & Rys. Co. 6 Convertible Gold Debentures Due Nov. 1, 1920 Convertible after Nov. I, 1918. into 67v Preferred Stock on the bais. of I & 'hares for each $100 Deben ture. These Debentures arc pro tected by a diversified busi ness and dependable earnings. Tax Refundable in Pennsylvania Price to yield about 6.12, Send for Circular S503-F WiiliamP. Bonbright & Co., Inc. MORRIS WISTAP. STROUD. Jr. JIanactr 137 Chestnut St., Philadelphia Saw York lloaton Detroit London rarl William P. Bonbrliht & Co. rionbrli til 4 Ca. January Bond List This list includes bonds legal for Savings Banks, bonds ex empt from State Taxes and bonds eligible as security for Postal Savings Deposits. Issues Range of yield U. S. Government . 2.00 3 2.90 Munieipil . 3.70 to 425 Railroad . . 3.80 to 6.03 Publie Utility 3.62 to 6.00 Foreign Government 5,12 to 7.00 Send for January Circular PE-85 The National City Company I42J Ctioatnut St., Philadelphia Mrw T CUcxa Cass rrsuutic rtttabutfc FINANCIAL NEWa TRADING STARTS BETTER HERE, BUT FALLS OFF IN AFTERNOON Rapid Transit Certificates Most Active and Move Over Narrow Range Allotments of Philadelphia Electric Bonds Expected to Be Scaled Down Mnrliot nijp'-nt.onn on llm Plillntloipliln Klnck tixc'ianKo ahowrtl alittia f Imiinni' inciit ult.i the licKlnnlni; of blisltiess this mninlnir. tiuf In tlto ntteimioii th" Inlcipst which hail bi'cii nhnwn rarllcr In the iln BccmeJ to lmn tllctl out nml trailliilf (lrnpp"il off to mtjnll iiroporflnna. The Rftipral a aumiitloit na thai. Willi the Iopi- mnoy rules, the rat" for nil I fitml f H'4 per cenl ImvIiik trmin Into iifCcfl thl tnornltirJ. trntlliifi would liritrttlen out. Tho majority of the aloclcs whlrh nppcnretl oil tho tntte tliirltifi tho ilay wcro tho ones thiit itro URunlly active Ak on previous day slnrc the ntiuoum'p inent of the tllvhlentl tlMnriillmi nml hefore union wan tnlien l'hll.idclphla Ttnplil Trnn alt trust rertlHentea were the most itftlvn of the Inoal lasUe, and when n oVIock hntl atruch the totnl of trntianct'onH mused al)oe thn totnl for eaterday. nlthotiKh tint to any nppiwlahle eHtfnt.-Thp nifnenii'iit of the prli-e waa tinrrow. nmrfnr the (renter pail of the day ttl a ismnll lota from the nnnl of eterda. The uetlon of tho rertlDrateii vouhl swm to Indicate thai there In n eonalderatde vol ume of aelllnt; orders In the mnrlct ulilrh muat he eleaned up hefore there H an up ward movement of any eotuseipienci' Many people, ai has heen apohen of hefor Rot In when the price was much lowei than lit present, and it irrcat nvtny of them hae oidera to cell on a scale up from 111 I" 35 anil upward Next In line of nilMlv was l.alo Supr iior Corporntloii, hut the lnonletl of Ihe prli e of that stock was like the rc-t of tin Ismies which came out diitlnu the l:i over ,i narrow ranpe l-'nr th" inoit pail the pi.ee wa unehatmed from the close of ye- Georgia Ry. & Power Sj 1954 Southern Indiana 1st 4s 1051 Edmonton (Canada) 6s 1921 Edmonton (Canada) 5s 1934 IFrifa or I trtulara and Priut Morris Brothers Co. KaUbUahctl 1S93 1421 Chestnut Street Sales in Philadelphia fill ii ; AH't, 111! i.u.n I I.... I'M ; to: CD" I N' ' i me lurtfij at jn. hui (n the afternoon It tot up .1 small miction only lo lose tho Rain he fore the close Nolhlnfi new was hiattl In the Street with regard to the rrmlKUiy h earnltiits, hut tl Is understood that It Is ilointr tptlte uell . . Philadelphia Kleetrle, too. ImnK around the final price nf last nlRht- eomlnR next lo Superior in point of activity. It was said today that fmrllclpann In Ihe rom pnnVs 6 ier cent first morttjitBe under wrltliiK expect to tie notified early neAt week of tho amount allotted to them. The opinion was expressed lotln that the amounts will be scaled down consldernhly. as Ihe demand for the bends) has been ory good. nn 'mange today bonds were not ns ac tive as yesterday. 1ml In the bond housea It w.is snld that the oci--the-iounter bus-lues-, continued oi a i?ooil snile. There f,cnm lo be ipi te a larKe amount of Idle funl' about viilttniT for hueftmelit. and when mih- Rood bond Im offered I' Is Im mediately snapped up I'm 1", III'h HHt. a 'A j Pi, ui rnu i". 3II-1A SI asi's 8'11's I3'rt J II lt 1)1 -.IP) I l-J sas :u SJ"'. - 'i . - I i .. nit1. 2 Am Has ISO Sil Am lts p.' !i't. In Ml.llil Loco .Irt',,; 17 do pref. 1113 lo Hen Aipht it'J"s 51.1 Insfo N A !7Vi Jiul Key Tel I'o l.ln lliil.l l.k hS'i Col 411 (, u-7 l.eh V Ti . fiV 3ii Ncv funs 'jr. Hi North fa. HI till I'cmiu It It Bfl'H I I'll cum pf t KK! I'Ulla Klee. SHs 101 Ph Itap Tr III 37H7 dote crs. .11 1.1 l'h Tract . Hlli ms Ileadlinr ..Kiit'tt los uaVi HIS Ton lb I... 1 !)-ll I M-HI I 8-tfl 4SS Ton Mln . ',(. nU lh SIS flilon Trnc 17 4il'i Hiai '4 HIS I'll (J Imp. Oil h!-H !'!. '-. 10311 V S Steel. ll.l'i 113", lll - 's 17.1 War I & S Ills , U'J 'i IS WmCramp 81'! ' si't, lll'U, I III tYork Ilwy pref . . . nil :i 3D Net change, fiom esteiduy's New Yurie lose, ti'issh. I1IIM Net 1IU11 l.o I'lene liss S.'llO" City 4s IUI3 vp .'. . .1031 i3-; 103:14 r.iino do mis.. iu:i',-j loniii in.'ivti moo Choctaw en h I'oiift l""l, loo li, 1010:1 Klec & Teo Tr 4s... 8(1 18000 Interstate ttwys Is S.I 10110 Key Tel O 1st 5s . . 07 Sit 701M) l.k Sup lne r,H ,000 I.eliiKli Vul cvns -1'ss , Sn3 ... I looo do aim tin. 3000 I'enna Co Advance in Crude Oil I'emisuwniii I'mde oil lias Just n Ha need annllier l"e n bairel in.tl!- 11 s .1 total rise nf Hn. In three weeks ucr' advance of 10c per barrel mcar.3 an Increase in Net Earnings of $22,000 psr annum, or an ad- dilionnl 3 on the outslandins rtocl: of Barnctt Oil & Gas Co. Tina company has pa.d 23 In mli dividends since April and la earn. 11c nearly 807. on Its stock. The closest InvciliRatlon Is Invited. I predict nnothi r advance In oil prices In the near future. Peace can only menu Increased ciri.lnss fur oil securities Let us scr.d you recent informa tion. Circular B2. E. H. CLARKE Morton R. Alexander in.isul.nt I'n'ltii'll MM. 1 1 III snriiLi MnrU liMllinsr Ulil-. I'lill.i. 47 UllllillH ". .. . p" NeunrU. N. .1. IM. Inrl. i- ii. li H3 ssqi 5,1 53 1171a !'5'3 51 At .11 I 01 'A HUH 101 If, ! 37V4 13714 1371b -I gen PjM.101 UK 101 U IU00 I V & U t , c in . . uaii 'aaiji ao?; T ) 300 I'hlla Uleo' as 100H lUGli HJIili Kiliin UendliiE Em 4s ., UOVb t'lli UG1 looo SiianUh- Am 1 (Is. lo: 10.' 104 7000 Ln Ilwy Jnv Bs.. 7414 7414 7414 -r ',. 1000 Welsbach Co Sh . . 1314 316 7314 x',4 SH.VEK SIUI'I'IXG UsVNNED American Lino Denies Passage Sinqe Contraband Deelaration NKW YliIUC. Jan l--SIHer bullion has been denied pansaca to European ports on the esscl of the American Line hi a recent order Issued by tho contrplllns company as a result of tho action of tho Herman Government in declining colli mid silver lo be contraband of war. This prohibition will causu future shipments of silver out of New Yuil; to be made on shlns tlylug the llrltlsh Hag und. therefore, will ar bitrarily raiso the war risk Insurance on the metal from the 4 per cent on American vessels to 5 per cent, which underwrite! demand for cargoes on ICngllsh bottoms What the ultimate cjnseiiueni'e of this will be on slHer pi Ices local authorities regarding the market for tho white metal are anxiously waiting to ascertain. Prices In London lira made elf. that Is, 011 the silter delivered free of all expanse. In the llrltlsh capital, and, as tho burden of the Increased Miipplns expenses caused by a raihe of approximately 3 per cent in Insur ance rates falls upon the shipper In this countiy. It naturally reduces the alue of sh ier by a corresponding amount In New York, so long as the present London prices le 111am unchanged. CAPITAL WANTED 111 mm:-. mn wirn cap iru. mi 1.1. mi !Im:n i-3 tTi:iuT : mm r('Tl'Ki:its IKIIMI A WOMIIiltll I. Ill si. Miss ; uiir.1T I lit mi. r 431. i.i:nt:r.K orncr. IH'I'Vl I.Ti:il TClKiriKt oflcs contain latl'nt Vslii's "I'"" """-'l for UO0 W 1st )i Sliiklnii I'uml llomls M.W lllll. r.NX. Mllllll.l'. r. HAAS KAll.lillAll fll. Si'n.l for llsl 'f other il' fuul."il seeurltlis. W. A. ricmlns-loiiei. Ill I.lbertytlldc. NEW YOItlC BANK GAIN 530,886,591 IN MONEY Movement ot Cash in Week Indicates Increase in Surplus to Near Ilcconl Figures M-:V Ynttk", .tan. Ill The known move tncntn nf money for tho week ended with the rloe of business yesterday Indicate! n gain In rash by the local banks of $.10. SSB.Bai. Of this nmoi'iif, $10.280.fCl ns from the Interior, Jfi.ni2.000 Trotti the Sub treasury and Jl I.OIil. 000 from a debt! at the Clearing House for, the week by the New York l'edernl Heserxe n.mlc. Last week the banks gained from the fountrv Jt1S.ITI.143 and gained fr.-mi Ihn subtreasiiry XS.ies.onn. Adding $40 r.00.000 in gold Imported the total gain Indicated a week ago was $fi7.l!t!).ono. not deduct ng a credit of $3.2S2,00H by the I'cderal lsere Hank. The nctual gain .n carh on last Salutday's bank slotement wai Jfin,7f!1.000 and In roiiseiiuenee the surplurf iescre rose J4O.D07.180 to a tnl.il or $181,438 020. Tho hlghes! surplus reserve shown by the banks rlni-e the beginning of Federal re sero operations was $221,000,000 In Sep tember, .inlB, M that If thin week's fotccafct proves eiact. tho Clearing Houre Institu tions will be below the high record to tho rSlctit or onlv $11,671,780. The surplus this week fchnnM amount to $:i2,32S,21 1 The bonlit received by direct cxprest from tho country this week $13,492,853, n..niimi lR.3lfi.8!)l Inst week, and they jihlpped $3,212,260. against $2.S4 1.10. Tho official Muntieasury siaiemeni niiuwa ir,ina fers to New Orleans nf $200,000. MONEY'LENDINti RATES MilV YOltK -The proipect of another heavy gain InCash by the local banks from all sources caused an even softer one than previously In Ihe money markets today, fall money was minted near the low record nf Ihe movement, and feme time ma urltlcs on good m'xed Slock litchango oll.ileral are close I 1 lb- level nt Ihls tlmo a year ago. when tales verged upon tho low tcrnnl. quttitlons are 2, 1i3 per rent for sixty nnd ninety dass and S3U per cent for four, flvo and six months Imluitilal money Is 3'4 T3'i per cent for four and six months. 1'rlnie mercantile paper Is 3iiW.1's per cent, Ihe lowest flguro quoted In several months. Prime bank acceptances are fairly active, nt 2Tifff2r, per cent for cl'glbles nod 3'2i'l per cent for Ineligible? (.'all money opened today at 2 per rent for lending and renewing. l'llll,Alii:l.l'lllA Call. SH per cent. Time, 34 fl 4 la Per ccnl. Cammefclal paper, three lo six months, HilJUH Vr cent. HANK CM-'AIUNOS' tlnnk rlonrlnrs tmlav eor.tfisted with eerre- nHntt.llno. ,1w Iflftl Mm VTIirSI 1017 ... ll 111.'' I'hllnd llonlon New Vorit. . r.an.nai.iis 4.-,2.4S)'i.7s0 27S.87i.07i Extra for II. S. Steamship Ni:V YOttK. .Ian. la.The Fnlted States Steamship Company Ima declared mi extra dividend of I 'a per cent nnd n regular dividend nf 1 per cent, payable March I lo (stock of record February 15. FrtHFinM EXCHANGE fNKYV YOntf .tan. I9.-H was the old lory in tho foreign exchange market this morning of deeded steadiness In stcrl ng and French exchange and vveaknes-i verging on the Fcnsntlonnl In Italian exchange and some others. At current quotations rtlcha maiks showed a tllscount of 2. per cent from the normal, lite .10 per cent and rubles and kronen of about 43 Ptr cent I ho feature this morning was n quotation ot 7 01 Mr 1'ie checks and 7 for cables. limitations follow: liemnnd sterling. 4.75 15-16! cables. I.7'a: slxty-day bills, 1.72'is nlncty-day bills, 1.70'4. , , Franc ethics, 6.83- i checks, 6.81H. Itelsrhimarls cables, CT7-10! .checks, Lire cables, Ti checks. T.ol. Swiss cables. 8.0214 ; checkn, B03U Vienna cables, 10.08: checks, 10.05. Stockholm rabies. 20.00: checks. 20.45. Pesetas cables, 21.38; checks, 21.20. Cliillder cables. 40'j, ; checks. 10 13-10. Iluhlo cables, 20 00: checks, 23. NEW YOltK HUTTEIt AND ECsGS N!!V YOltK. Jnn. 10 ItrTrtllt Ileeelpls. .",140 tulw I'aney freh In mnnll supply and elenl All nthcr grnrtei Innrr nml unsettled. Elsie dnlrv. 37Hl fJSri others unelMnsrejI. I'tlCIH llrielpls. IS0.1 r,1S!"l. I'resll ecus lower nnd unsettled.,, fltnrtiRe nnll end nn. ehntlged Hxtrns, t7,fl ISe: "Ira flfsts. 4l!ei llrsts. Il34e; seeemls. ln41e! while, crb f,'.'fr,3ei brown eRS. 40BOc; mixed color, I., STIKc. 11AK SIIsVEU 1.1st Tn.lny Yj;, Cri N.. V.irli irnis) 7.1 7..J. .1 tinclnn (penre).. 30', 30 30 1017 lllsli ttnvr 7S'j 71U 30S 30 Tax Exempt In Pennsylvania Frco of Normal Federal Income Tax West Penn Power Co. Firct Morlgnge Gold 5s Dud March 1, 104G Net entnlijits ef the i-ompnn for ih. fflVSi't fe';u,r?,0e,,',", lh'"""- A. B. Leach & Co, IIS South Fourth Street York rhienen 1,. niUlmor ,-ew iorK f'nienKo nw-, Ilonton t.oiif!nn. r.r,- .fi 'alo DIKIU'TOnV OP AtTorNTANTS Cerlineil I'nhlle Aerountitnt ' " j.Awnr.Nt'B r. iiiiown c 10IB llj'.AI. KSHATi: ritUST lllll.DtN-0 WILLIAM t! MllNTni.lLS " 11411 CIILSTNUT HI' nun-va & npp.AKMA.N inn nouiisu I'AUTM-.llSllU'S ItUTIKUMLNT (If PAKTM'.rt Kotlee Is hereliy Riven Hint .Mr. llitl.l Conlon. Irk this day hex rellrnl from tho eo-partnsr-nhio 'loins huslnoen under llio nnmo of "Wood, lilne riniir ntnl r.rn tomjinnr." Haled .tnhuary lOlh, 1017. $ M'Kl'lU, xoTicns 1 ii in 1111: 'Tin Mioi.iii:iis iir i:dvakii '-' li. Itl llll MAM I'Al rilllMI COMl'AMl Noll,, In lit ri'l. tilv.m in.il a initlnw of 1I1.' xHulciioul, th or Mi. 11 nl (. Huilil vi.iiiiifiiitiirln: (ctnii.iny will l- m'lil in 11" "itl" uf tnnt cum u,inv. ut illinium I'urk mil W Itustihlcknn nvi 11 m la tl"' Ll' of I'nll lUolphlu. un lnp.il.i). Irliruirj 'M. IUI7. at i ii'iloik is, 111 . lor the puriiot." or Ollllll.lllll. Ill' lOIIS-lll v,f IMC .tlK.k- liolderis lo Ih" mil,, ri'liiss.. or fXihaiiKo ot Ho rolloulnv il wrtliHil r, ul i man' of tho ioinpnn lor suels luiislilrrullon 11 ml upuii uih terms Jt Ihn llourtl ot llre ItirB m.i Ui-hio iithl'.uble No. I, All tout lot or mound miuatr un tin" nortlmeat sldi of lluinlni! P.irl. bv,.iu- anil Ih" souihWfl Hlil .f Mii.'iilil,-lion iivohuo. In llio Inlrij-imhui Wm.l of 1110 citi of I'.illudiliihia. uintulnlna In f.-out nil Ihe mild lluntliis l'nik iiwiiuu JU fffl nml ixtcinllntf of nml wlittli In ileptli norlhvviMtnrill on tho liorllieaHt Ihi" linruof 40.1 fe.i Mi Imhih ami on me soiiinvvt.st llll" thi-riof 401 fiet .1 lin lie" lo the miulii"at rlehl-of-way lino uf iho rtli liinoml llrum-h uf the PMIuilt'lMhln. nml I'.oiidlni: Hiiilvvav i.'oiniianj loniHlnluu hi bnutltn on tho nor 20 feet v inen. .N'o. '.'. All thut reriuln lot or uroii ml sltuato la tho said ward and -ll. boslnnlim at 11 point, the luteiwitluii of Hie nortliW"t line of lluntllisT I'urk .iveiiu" and th" north"HHt line of th" rlsnt-of-"o of tho Chestnut Hill llrnnch of Iho Con ntHilnu Itallvno Contimny. lhotue alons the snlil lino north ,13 deartos 11 minutes ft I e,unils west 1,14 feet 1'ti ImiKiS tu oil asle In said rlilllt-of-was line, tneiir,. mill I13 iho said lino north ! deurees :.'0 nilnuua 10 si-eondl west 00 reel H Ini-n in a poliu. tneiite tiuuth 33, decrees tl mhi uu 51 snonius mat '.'.111 f ' t IS Inches to Ihe aid llii" of Hilulln,,- Park in "line, and thence iiouth iai ileiriets I., minutes 2.1 seconds west ulnni Ihe said Ituntinr I'niU nieiiue h feel l inch tu the ptai " of li"iilniihiK No S. All tlidt i-rluln lul of Krnund IIUMB In liie said vvrid ami H, lslnnbi at 11 point lit the nonhead rlxnt of-uuy line of tho Chestnut Mill Hramli of th" 1 'oiniiiUni.- rtallvyay Corn pan ui u point 3sl feel 71 hirhts northvvesi w.ird from Ihu polni of Inlerseeilou of Hunthiu Park avenue and ihe wald line of Ihe said rail vvio loinimny as uieiMUrtil uloiu; tin said line ,,r the aslil rnlln , oilman:, tnvnre north 71 ilearei's vu tninuua lu nuuils west U feet & iiiilue 1,1 a iK'Int in the aoutlmast rlilu-of-nay line of Hi" llhninoml lliuneh of the I'nlluilelpal'i and Itiuillnir IIu1Im.iv ComiMiiv thence north Ttii dejsniH 111 inlnuli .111 aerollils east 12 feet. U In, Ilea lu a point, tlli'lli'e siiulll 31 Ueirtes 2 inlnillea 1 b" 'Olid iul II feel oVs- inches thence aiiutli ,in (iirfma ai nun 111 s ,,'f seeonus west I.' fut U'a lllvliea in Lie l.lm . of Iwirlnnlint. KUWVIIU (I IHltJlJ. President. LOCAI.. MINING STOCKS MurXamara xilda .. . Montana North Star Ui-ncue ftula lllue Hull lloolh C II 11 Comb Frae . . . Iilamondnald It It Daisy lira TOSQPAII STOCKS Hid 1)7 SO .v. :.::.::::::: M S3 COl.pl'IKl.D STOCKS .,,,... .08 fm :S1 Ak-xl lit) 23 .ill .It 55 .t .11 Ut .lilt .(III .0.1 .111 ,nu GARWOOD ELECTRIC CO. Jst & Refunding 6s, 1942 Price oo Applieation MELLOR & PEpTRY Ut tUr 'its, mi Stiwrk KututsuMi i dlWWUl tl3t MlU-UiXU Usui Kin .01 Silver 1'lclt '.'J MlSCKl.(,ANl-;i)US A rlloas L'nltoU S Novada Hill .SO KevHiltv Wonder 2, -HJ Teeopa JHn in Initial for Kivcrsidc Eastern Oil PITTSnUltQIl. Jan. 19. Tile Itlverslda Eastern Oil Company lias dtUrd an In itial dividend uf i uf 1 iwr cant on tu commuii stock. uabU February 21 to holders of record Januasy 31. The rssular quartarly dividend of lSs vr cnt on tba ureferrttd stock was also dtieUrad, payable Fbrury 5 to lioldms of record January 31. The nt sarulngs of the cojupauy for the ear ndl Lwceuitwr 31 lost, tlie flret year of tba company x etence, uere J133.0S9. Jlore Gold for South America N"BV YOKK, Jau. 1. There h-m iweu withdrawn from the New York Subtrea.ury J7.00 la gold coin for siilpiaeat to South America, and JSO.OwO for shipment to Spalu. Axxi'Ai. iKhrriNr. (UMI1.M. Tlll'ST A. SAV1MIS CtlMI'ANV January lHtu, tOIT. At the Annual Meeilnj. held January tlth. 1U17, the follow.ru titockholders vvere electad direitors to serve for the oniuln lean T I'omly lluiuer l l.ahton Kramer illume II Mi'.N'eely l-rancla X. Q'jllm Theudoro I' Allher f Ilunrurd Hhoadi James I' llallowell lUnry Hell Ueorsit IV. Uulduouat Utsac 31 HlmoQin r'ruak St'bnbli- Ch.ia. H. Woltwi. Jr. Iltnry I'. UtLhrll clement J. Craft l-'rcdk n IKlmtiolil At a mention of the noard ut plreotors. Ua'd thla dny. Uv followlns uillmra were uaanlnwinl elscted: f fomly Hunter. Prealdent. Clenieni J Craft. 1 lea I'rtsuumt lleorgn 11. Mi'N'eely. Vie rrMldent, rueodore I' Miller Vna I'rtaldcnt. FruJ's, O. Itelmboid. Treawr. Chartea K'l.ukena Retrotury Anion n Kvuni. Title and Truat UttWr. Oeo J. llanhauaer Aaat. Tlt'o Trust OIHcer. Cameron Worthtngton At. Trenaurar. CHAItl.ES K. 1.UKCNS. HooreUrx ANNl'AI, MKKTINC. OF TI1K rlenii lutlvlvUertlun hoclets will La held on vveuiie.iu. j.inuury sun. a p. m. . as 3il South lsth at., when mtleera "111 tie eUited for the. eiiau'nz isar. The public larittd la attend K5P TIIK - Aliirrl LIVE STOCK QUOTATIONS HICAUO Jo 1 HOOS Keclota 32 OOO baaJ. ooarkal &O10c blaher. mixed uud asw mail -ew h.i. t ..haPJ 1 H emwri liatallV 110 TOO 11 lluhl SlOdsfi 11 10 pltfs t 40410 30 bulk 110 UG&U to BOO1 btu.y ill 05 If 3000 hti uiai-it . A. I PIK Hi. erltlll Vwcdr Lr.tit 711 1W uil ,i i biUrJ 14 mwv nj miotxyrm nui h-cimw " u -so u Tu 7 7-.0 ilv. 11 ..kil.Ti,:!' itei ml u.neu n, ais ti r-ih u4 nesaein llt laoiba. UU M fit: laaracl aledi 3 9 iiivinn.Me; I'lilladelidiU llapbl Transit I'orapany benilalinUdLllvideml Iv'o. 1 I'hlladaluliia. January 1.1. 1DI7 A semiannual dividend of two nnd one.lmlf per rent, or une dollir aud turnly-rive iruU per share, has been declared out uf tho sur plus earnln&a of the current fscal saar. begin, ulna" July 1. HUH upon Iho capital atock of tbls Company payabi Ijiiuury Jl, 1017. to a hare holder of recoru . tlia cloaa of bualoass on January --. 1U17 Traoafer booLa will remain open ' It B SRI.KrtlDOK, Secretary and Treasurer. COMMKIICIM. TUCNT rOSll'ANV t'niladelphla. January 18. 1817 At a maellun ot the Hoard of Directors lieW this day. the regular Quarterly Dividend ot four 14) per sent and aa antra dlvldeud of two (il per rent ware declared upon, the taytat aloct (4 tha Company, payable on February I. 1817, to Shareholders of record ou the 31t Instant. ChedMs will be milled li W STKUPE8T. Treasurer " CENTRAL Tlll'ST i H.WIN08 COIII'ANY fhtladtlobla January 18. 1017. The Hoard or Directors thla day declaied a quarterly dividend of one nnd one half per rent cm the capital stork payable February 1. 1017. to Stecldsohkrs of eiord January 16. 1017. At the same true J 50. (100 was added to Ihe Surplus, maklni that fund S&00.00U. Checks will be mslled for tias divlsleods. CKAHI.KK K I.Uk-ENS. SecraUry. KI.Kt THIS NOTICEcl irrNDTlC'E IX 1IEKKUV IJIVhN THAT TIIK ec An'IU4l Mi- I lli ul m, atocKnoidera or tba I.KII.IKOX VVI I.KV S AMI I.. ASbllflATlllV fur ike puri.nt ui lv.iti.if Dlreitoks la so, cerdaiii. uul, il -. ouia and the llesseatuloj) uf sucb utp.r i uiid tuat ma come berdre It, lU be in l.i ii3 ui11.ee tO-i Drexal Bulfthuc Fluls.aeli.his to ToeitUejr January -3, at 4 . m. li F MADDHM. Seustary. r 9 fibW K-Jf S &M Hz e f3 ski. SiV3. WaV tUll' 'SLe M. First and Refunding Mortgage Five Per Cent. Gold Bonds, Series "A" Due January 1, 1917 INTEREST PAYABLE JANUARY 1st AND JULY 1st Criupon Bonds in denominations of $1,000. $500 and $100 each, with .privilege of registration as to pnnpal and exchangeable for bonds (in denominations of $500 and larger) registered as to both principal -and interest. Fully registered bonds rc-exchangcablc for coupon bonds. All but not part of the Series A Bonds outstanding may be redeemed on any interest date, on and alter January 1, 1920. upon 00 days' notice, at 105 and interest. For information as to this issue of bonds, reference is made to a letter dated January 15, .i-oni SaMl P. Colt, Esq., President of the United States Rubber Company, copies of which may be obtained at the ojjiccs oj ihe undersiyned, which states in part as follows: REPAYMENT OF MATURING BONDS "All cxisliiiR bonds, and liens upon the properties, of United Slates jRbr nCom; pnny or subsidiaries, will be provided for at onre aud will be pad on or before December 1. 1918. except 52.600,000 fi Go Id Don H of tiie Canadian Consolidate!. Rubber Company, Limited (hereinafter called the Canadian Company), ".."f.L"'."," October I, 9AC and except $9,000,000 debentures of General Rubber Company, due December 1, 1918. . . . "1 he 'Wrcs. " General Rubber Company arc to be left undisturbed for the present, as the Company has under consideration other plans lor dealing with its important crude rubber interests. ..." LIMIT OF ISSUE "The Iloutls are to be of an issue limited lo the par amount of the Company's full paid Ircfcrrcd stocks nnd common slock now oulstandiiiB. plus any additional stock iseucd at not less than par for cash actually pa d n, an 1 inrt.icr limited so that no bonds in addition to $60,000,000 presently to be issued () shall be sold or pledged prior to Jai Jiarj 1, U 8, except with your consent : (2) shall be issued, except for refunding "iiless the tinenctim bercd qtiick assets (al lcnr 1',;"", Base) of the Companv and subsidiaries exceed their acgreRatc debt (as defined iirtlie JIortBaBc). n clndii K the outs t. n dMlloi ids and any increased indebtedness rcstillitiR from such issue; (3) s hall be issued, except for said refunding, unless the .in ual n t in come (as dclitu-d in the Mortgage ) of the Company and subsidiaries for three liscal. years next prior to s"y'. '" ' ?s. 'dM ca! least twfee the annual interest upon the entire debt of the Company and subsidiaries, inc tiding interest on any incr cased ulcl .ted ncs's rcsultiiig from such issue: and (4) limited also to the amount of tho present capital slock (about !97,J5U,OUU) except to tne extent of any increase consented to by the preferred and common stocks. "Of the balance of the authorized issue $10,000,000 Uonds may be issued for additional working capital, and for develop- A tnent and for other corporate purposes, subject to the rctr ct ons above stated, and out of the remaining bonds now autliorizcti res" va im iso be inXtop'rov'idc for .he S9.000.000 General Rubber Company 5 Debentures, due December Uwvd by United States Rubber Company and Rubber Goods Company, unti otherwise provided for. and the $2 600 W" "aC0 Bonds, due October I, 1946. 'Any additional lionds and any l.onds not used for such refunding shall be servc 1 for capi ta expenditures made after Januarv 1. 1917. for additions, betterments and improvements or for new properties (inch li g siibsid w y torn Da lies against the pledge ot heir mortgage bonds), at 75 per cent, of cost; or not more than one-third oi such additional llonUi may be fssucd for other securities and stocks at 60 per cent, of cost: all as shall be defined and provided in the Mortgage.' SINKING FUND "On January 1. 1919. and annually on January 1 thereafter, the Company is to pay to the Trustee as a sinking fund tCi in cash upon the face value of the Uonds then outstanding, plus the amount retired by the sinking fund. Lond holders shall uc invited to tender Series A Honds for the sinking, fund, and the Trustee shall arcept t he Uonds tendered at the lowest prices, not exceeding 105rc aud interest.. lo the extent ot the moneys in the sinking fund aval able for Uonds of benes A. but to lie extent not procurable at or below 103 and interest upon eiich tenders (or thereafter during the year in the market), the Company shall be relieved nf its obligation for that year in respect to tho sinking fund applicable to Series A Bonds and any balance remaining in the sinking fund for such bonds at the end of the year shall be credttcd upon the sinking fund for such bonds for the following vear or years. NET EARNINGS "The net earnings of the Company and its eubiidiary companies available for interest . . . ns found by Messrs. Haskins & Sells, have been: For the fiscal year endine December 31. 1914 $10,090,988.48 " " " " December 31, 1915 11.539,313.10 ' " December 31, 1916, (partly estimated) 12,500,000.00' INTEREST CHARGES "Interest charges of the Company nnd subsidiaries, including the present issue of $60,000,000 Bonds and interest on the undisturbed bonds of Canadian Consolidated Rubber Company, Ltd.. and General Rubber Company, but excluding interest on obligtions maturing on or before December 1, 1918. and now provided for, and on unfunded indebtedness to be paid by this issue, vould be less than 53,010,000. Considerable additional earnings should result from the use of additional capital provided by this issue." QUICK ASSETS " pplying the proceeds of sae of the $60,000,000 Bonds, the Company and its subsidiary companies would have as of October 31 1916 over and above all liabilities other than the new bonds and the undisturbed bonds, net quick assets, consisting of accounts' and bills receivable, cash and merchandise and readily marketable securities (excluding securities issued by subsidiary companies), valued at $81,363,402.28." FINANCIAL POSITION "The consolidated financial position of the Company and its subsidiary companies, as of October 31 1916 but after-applying the proceeds of the sale of the $60,000,000 nrw Bonds, as found by Messrs. Ilaskins & Sells, would be as stated below This statement does not include any valuation of cood-will. resit King from the old established business of the com panies and from their valuable trade. mnrks; nnd the property, plant and equipment is jjtven at the amount as carried on the books, although in the opinion of the officers of the companies, an appraisal at this time would result in n very much larcer valuation: Property, l'lant and Equipment.,. $34,850,204.33 Manufactured Goods aud Material 4b,7,Jl,J8.0l Securities Owned 1,731,870.29 Net Current Assets, consisting of cash and receivables, less payables 30,840,293.33 , $136,213,606,61 Canadian Consolidated Rubber Company, Ltd $2,600,000 General Rubber Company 9,000,000 Ujmam Leaving assets of....'. $124,613,606.61 or more than twice the $60,00p,000 Bonds now to be issued." "The foregoing tatcment of the financial position of the Company and subsidiaries does not include as a liability $1,385,200 fless than 6'"o of amount outstanding) of slock of the Rubber Goods Manufacturing Company and $385,100 (less than 7 of amount outstanding) of stock of the Canadian Company not owned bv United States Rubber Company. ''"' ,,..' forCHOinK statements leave out of account the Canadian Consolidated I'clt Company, Limited, a majority of wnose rn.nmnii stock is owned bv the Canadian Company, and the contingent liability of the- Canadian Company as guarantor of $426,500 bonds of said company. On November 20, 1916, the Felt Company bad net assets over all liabilities, other than said $426,500 of bonds valued at $611,983.87. Similarly two other relatively, unimportant companies, in which the stock interest of the United States Rubber Company or its subsidiary companies is less than 8070. are excluded, baid three companies are not regarded as "subsidiary comiianies." THE UNDERSIGNED WILL RECEIVE SUBSCRIPTIONS FOR THE ABOVE BONDS AT 96. PER CENT. AND ACCRUED INTEREST TO DATE OF DELIVERY, AT WHICH PRICE THE-BONDS YIELD OVER 5.20 PER CENT. ON THE INVESTMENT. , y ANY OF THE BONDS NOW TO BE REFUNDED BY THIS ISSUE WILL BE ACCEPTED IN PAYMENT FOR NEW BONDS UPON A 4 PER CENT. INTEREST BASIS TO MATURITY. ' The subscription will be closed at three o'clock P. M. on Tuesday, January 23, 1917, or earlier, the right being reserved to reject any application and to award a smaller amount than applied for. The undersigned reserve tho right to close the subscription at any time without notice. A first payment of $50 per $1,000 bond subscribed for must accompany all subscriptions. The balance of the amount due on bonds allotted upon subscriptions will be payable in New York funds on Friday, February 16, 1917, at the offices of the undersigned, against interim receipts, exchangeable for engraved bonds as soon as ready. AH allotments will be subject to the stockholders' authorization necessary in connection with the creatn of the issue and to the approval of proceedings by counsel. If no allotment be made, the first payment will be repaid in full, and if only a portion of the amount applied for be allotted, the balance of the firit payment will be applied toward the amount due ou February 16, 197, No interest will be allowed on such first payment. If any further balance remains, such balance will be repaid.. Failure to pay.theccond installment, when due, will render the previous payment liable to forfeiture. ( New York, January 17, 1917. ,. KUHN, LOEB & CO, il i
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