'PlWWy'v T 11 , .' A JMra n A rj ,, I- If t I -t r ! EVENING LEDGEEr-PHILADELPHlA, THURSDAY, JUNE 21, 3.917 I 1 RE.LLY, MOCK & CO. DAMUEnS INVESTMENT SECURITIES MUNICIPAL RAILROAD AND PUBLIC SERVICE CORPORATION DONDS 306 CHESTNUT STREET riULADELl'IIIA Consumers Power Co. UFint Lien & Rcf. 5s, duo 1056 liSeeured by flret mortsage on prop erties having n, rated generating ytcapaclty or approximately lav.uuv fit. P. (Incl. about 64,000 II. P under construction). They nro secured by mortuage on the entire property, sub Rject toidlvlslonal bonds (closed mort rcages). f-The territory served has a population ;ioC over 00,000. For'the year ended May 31. 1917. net learnings tvero over 2.1 times bond Interest charges. Price 95-and inttreit, to yield-S.40 BAKRERB (EtUbllibed 18ST) 321 Chestnut St., Philadelphia The Kensington i lj A I fcmrls" I KGirard and Frankford Avcs. Philadelphia, Juno 20, 1917. A special dividend of 1 per cent has this day been declared, payable to stockholders of record of Juno 20, 1917. A notico of dividend with check will bo k mailed to each stockholder with request to contribute tho dividend 'in connection with their other bpcrsonal subscription to tho Red Cross Fund W. W. PRICE Cashier. m ft&nrecs: SfHeehejiies ioneJIBalild a Liberty Loan Communicate with us kif you overlooked ob taining your LIBERTY .BONDS. Payment may be vtnade in full, Govcrn- iment installments or .weekly payments. Registered or Coupon 'form, convenient denom inations. -j"'" 'I 427 Chestnut St rnuo.aelphlo. Steam Railroads We have just issued a G4-page supplement to thg Steam Railroad Section of Moody1 s Manual giving Income accounts and balance sheets for the year ended December 31, 1916 This supplement will be fur nished complimentary with a sub scription to tho Manual. SingU Copies, $1.00 MOODY MANUAL CO., NEW YORK OonTewet Er Company" .AUTOMOBILE BANKERS' Offer special facilities for in dividuals or automobile deal ers to finance the acquirement of pleasure cars, for business houses to finance the aeoutre rrrent of commercial cars or trucks If you are thinking of purchasing a car of any kind for any purpose the FIKNEY 8YSTE11 will make a better business transaction for you. REAL ESTATE TRUST OUILDINQ PHILADELPHIA t MtJCTOXY Of ACCOUNTANTS FINANCIAL NEWS KEYSTONE TELEPHONE STOCK SELLS HIGHER ON APPROVAL OF DUCT LEASE Comp any Will Get 4 Cents Per Annum for Each Foot Used by Philadelphia Electric Operating Expenses Cut Into York Railways Earnings Approval by tho rennsyhanla Public fe'ervlce Commission of the leasing of con duits by tho Keystone Telephone Com pany to tho Philadelphia Electric Company resulted In some ncthity nnd strength of Keystone common stock In tho trading on tho Philadelphia .Stock Exchange today, nnd nt the high price tho stock was up nearly 2 points as compircd with tho final flguro of yestcrdny For a tlrno Kctstono was tho most nemo of tho homo shares. Philadelphia Klcctrlo was only up n frac tion. The Keystone Telephone Company will get four cents In annual rcntnl for each conduit foot used The contract provides that tho minimum rental shall bo $25 000 for tho first yenr. Increasing $12, GOO each jear until $100,000 Is renched Tho tele phono company v. Ill not bo put to any ad ditional expense, nnd therefore tho rental will bo clear profit Tho final clearing up of tho lcaso question, which has been hang Ing flro for flvo years, was regarded with satisfaction by thoso who nro Interested In the nffalrs of the two companies A henvy Increaco In operating expenses In tho month of May cut Into tho net earn ings of tho York n-illways Company In th-U month The gross was $8128 larger, being $83,318, but tho operating expenses gained $8644, reaching $47 026. This made tho net earnings $30,321, n decrease of $417 For six months tho gross was $623,806, nn Inrrense of $62 113, and tho net was $277,461, n gain of $16,143 An Initial dividend was declared by the American Stores Company, which Is a con solidation of tho chain grocery stores of tho city Tho dividend, which Is on tho pre ferred stock, was lt per cent nnd Is for a quarterly period, pavablo July 6 to stock holders of record Juno 25 Trading In stocks on tho local exchange did not differ mntcrlnlly today from other recent dnvs If nnythlng tho turn over In tho full five-hour session was smnller than yesterday It was again left to United States Steel common to furnish the bulk of business In any ono Issuo nnd It followed tho movements In Wall street Quito a number of stocks were unchanged, and among tho!o were United Gis Improve ment, t'nlon Traction, Pennsylvania Salt nnd American Clns, which yesterday de clared n stock allotment of 21 per cent nt par. Money-lending rates XI! IV loint Money on call opened nt 6 per rent; high 6, low 4, last 4M, closed 4'j05, ruling rato 6'4 per cent Time money rates today for periods from sixty das to six months were SVjftli per cent for mixed collateral, whllo all Indus trial loans were r1'i6H per cent Ineligible acceptances wero quoted at 4f?3 per cent and eligible-! nt 3'44U per cent. rillXAnill.rillA Call, B per cent Time, 60614 per cent Commercial paper, thrco to four months, (iW54 per cent HANK CLEARINGS Ilsnlc clearings today compared with corre sponding day last two years 1H17 into tflll rhindolphlR. $.1 VNn I"" $40 07 Old JI0 023 0211 Ilnston . . 1SmT2S 34 141227 21R37 7U rhlcntrn . 84 nn nm m i4 :vi 4i.7Vi M7 New Tork 3t (100 H3S 4",0 IIS 420 200 014,183 O. H. Wharton to Head Crucible PITTSDUnciI, June 21 O II. "Wharton will bo tho now president of tho Crucible Steel Companv nccordlng to rumor Tho ofllco Is now held bv Mr Dupuv, who nlso Is chairman of the hoard hiving assumed tho presidency when President Charles Itamsey dlul several months ago Mr Wharton Is from tho ranks nnd has bocn with tho Crucible company during -virtually Its entire existence FOREIGN EXCHANGE NHW YORK, Juno 21 Tho most Im portnnt fenturo of tho foreign exchango market today was tho strength In rubles checks being quoted at 23 60 and cables 23 70 This strength was attributed to the announcement from London that tho Hus sion Government at l'etrograd had taken steps to stnhlllao rublo exchange. Quotations wero Hlxty-day sterling .bills 4 70i, ninety-day bills nt 4 C0"4, both nominal, demand ster ling 4 75. cables 4 76 7-16. l'rano checks 6 7R4 cables 5 1lt,. Llro checks 7 27 H, cables 7 26 u, Swiss checks 4 94 A cables 4 93 4. Guilder chetks 413-16, cables lli, plus 1-16. Pesetas chocks 23 10, cables 23 30. Itublo checks 23 CO, cables 23 70 Mockholm checks 30, cables 30 25 ChrlstlanK checks 29 25, cablfH 29.45. Copenhagen checks, 2S SO cables 2S 95. I5AR SILVER Today New Tork (cents) 7s London (penco) ,l!'l Last Ye Thurs 77'i 77 31m an a 1017 High. low 7(1 71 3!N 3511 CHICAGO I1UTTER AND EGGS CHICAGO Juno 21 IlUTTHn Iteeeipla. It, 22K tubs Steady i:xtra, SGVic tlrots 3t'i 0 "IV e 1 OdH ItneelnH 1(1,471 eosea Stead FlrMn 2s'i 5J2H'o ordinary tlrata 20H J2Se PHILADELPHIA COMMERCIAL MARKETS AND OTHER FINANCIAL NEWS ON PAGE 11 T Commercial Trust Company he Board of Directors of the Commercial Trust Company have this day declared a Red Cross Dividend of 1, payable June 22nd, to shareholders of record June 21stJ.917. THOMAS DE WITT CUYLER, President. DIVIDENDS i)iini.M)s Ins. Co. of North America RED CROSS FUND Philadelphia, June 21, 1917. The Board of Directors of the Insurance Company of North 'America have this day declared a Special Red Cross Dividend of 14 ($50,000), payable July 2, 1917, to stockholders of record at the close of business June 21, 1917. This Dividend is paid for the purpose of providing opportunity for each and every shareholder to appropriate the sum for the benefit of the American Red Cross War I-und, in addition to any other do nation which he or she may make to that Organization. Checks may be endorsed or drawn to the order of E. T. Stotes bury, Chairman, American Red Cross War Fund. BENJAMIN RUSH, President. The Provident Life and Trust Company of Philadelphia, Pa. Philadelphia, Sixth Month 21st, 1917. . AtJ-a-JSpe5iaIr estinS of the Bard. of Directors held this day, a special extra dividend of two per cent was declared upon the $1,000,000 capital stock payable Sixth Month 22d 1917, to stockholders of record on the books of the Company at the c ose of business Sixth Month 21st, 1917 Checks for dividends will be mailed unless other directions shall have been filed with the Company? ,VnHItJSnci?Vd at '"dividual stockholders may contribute this divi dend at once to the Red Cross,I?und now being raised f Prir,rnH.Blm5nts.i1,avc bcen jnado b' Jvhich members' of the Society of Friends and .others in sympathy with their objections to war mnv contribute to this fund I throtlgll thf American Friend. Se?v ce Commit tee, to be applied to the Red Cross Units being established by Friends Sf pilf rand """"'""ive service in France as an organic part of the Red Cross work. Checks for this special purpose should be m id r KSk S0thh7,Sr&r f Cp,!f-,1?,S1Fi enk,ns- TrSu?e" and ?nt to him B-li r, r ?! Philadelphfa. He will report to the American Red Cross Committee the amount so contributed and it will be coiintrH Po,Pearmofrdher &V?ti' thi!8h h w" be used "oMhl. ,Jec aTpur? pose, in order that those contributing to it may feel clear in doing so. C. WALTER BORTON, Secretary. Sales in Philadelphia 134, lfltf, 77 0IV4 110 Sll oo v SO 11.1 00 At 1144 II Pi 124 10H 70V4 ni', 0314 140 30 oo ; 21d 00 30 2 Dtt onn,, 42 71 Net Chlte, H 1 11 1 Mi li rioie 30 113 00 nl(, M'N AlH 13V4 ion 70H (11 ',4 02 Vt 110 30 OOVi A3 on 30 'i - 4 01 '(. 4S'A : 213V4 Mi 121 Th 6 cents, Un 50. 1V4 2V 4 100 Am Stores sn 20 Am Gag ,.ns is Am Itya pf oo 200 riald Loco AIH !0 Crucible St Sl 20 i:icc Stor . (lift 780 Key T Co 811 Lk ijup r 33 l.eh Nav.. K leh Valley 10 Ml'lvnle .. 2 Norrlatovrn 2S N" Y N H. 3 No Pcnna. 121 'Pcnna nn 31 0 I'a Salt M 00 BO I'hlla i:icc 30 010 PUT tr ctfs 204 100 Heading . . 03 21 Union Trac 42 130 Un Imp 23 4 'U Cos NJ 21314 213 8001 V H Steel 121 120 funn.tlinnl'i nv .111 Irlnnil. ? roniptnles of N'ew Jersey ex dividend, t' Totnl nlc. 3111 ulinrm. Vompnrril llh ". OOfl .Imrf. jmlrrdasi lhu fur tlil rK; " " harm i tamo period lant rk, 60,iv,l "" Hleh Low. Clone, fjono unid i.oco 1st Ds ..W2 2000 City 48 1044 cp 100Vi 100Vi 100U 20op KoyTcl 1st Us OS 2000 Lehigh Val eons 4 Via 2003 .... 00 Mi, 06V4 jvuv jniv uqii Ity 1st 4s 04 1000 Tenna Co temp cts 4 4s ... 03 1000 Phlla Co cons Gs. 00 20200 Phlla Klcc st Ga ..101 soon Itetdlnggn 4s . .01 iOno Welsbach Co Bi OR clicc. 102 102 00 04 00 0014 ot osMi 03V4 00 00 iooMi 101 01 OR 01 OR Totil snlen. H31.20H, eompnrrd yllh "'' jetenHji tliii tar Ihl. icU, SlSS.KiOl ' lrrlwl Imt ucrk, 2 1 1,500. Local Bid and Asked Am Stores HMD, J u Uulf & .susn t c flo prof Iiilduin Klcttric StornBo .... tlencrnl Aphalt .. do i ret ICejslono Telcphono . do t ref I.nko Huterlor I'orp l.hlkh .Nmlcntloii . Lclilfli Vnllcy I.i-hlsli Valley Tr do i rrf IV miBjtvanla . I'hlla niertrlo I'hlln Coinpnuy . . . lo Tt PT rent 1 ref d (1 ppr cpnt pref rhlla Itnp Transit t It. ndlnir ronnpfih lif'ltnont . Irnop-vh "MlnlnK . . I nlon Traction I'nlicl (lis Impvt United States Steel Aurk lliillua do pref W in Orainp t c Did .Ml 21 (- I".. Ill1; 10 1.0 f,'i 13'i til TodftJ' A Ik. 3'l' fl7 1114. 1,1 l.l' 1,11 Yesterday I III ASK Jll'4 21 Ol'i 4'J li.'4 (U'il JO ft n S.i '$ si? J l4 .10 2'l4 it ni'j rfi ,t2 :i" .'-', ,ls'4 so .n re. J ''i '" irt'C U('li i'"' I IS 4 II li'a n 4J 4J'J ll4 7nS 7k'h 7K4 tJ7'u l.'7i l.i.S 30a M4 13 M 20 r.7 ni (,! ' (II 11 1114 77 1,1 4J'a r, i in .u-i v. .VI -is I'. 4i' 7I( 1.04 It 37(t bl'i Xcw Issue of Farm Loan Bonds WASHINGTON", Juno 21 Tho Pcdcrs. farm loan hoard within a few days will nnnounco a new Issuo of farm loan bonds Uho bonds will bo sold nt 101 H Iho amount or tho Initial Isue probably will bo J50 000,000 Tho bonda will pay 4 V4 per cent NEW YORK BUTTER AND EGGS NBW TOm? Juno 21 nUTTKH Itecelpts. 12 181 tubs HlKher nnd stend. IllBll seore hh4 f.Tl'ie, eTtras 3S(iW1si4i (Irsts 37(4 W nr eronrt 3".'437e State dilrv 3Se IIOOS lleeelpts J1.023 ones Irrrfciilsr. Quo tatlons unchanced A SUCCESSFUL BROKER dslfrl with exrlintin rllenlPl" to ntnt oumi of $" 000 to IK' no in Eoliifr mnnururturlns nmitnv In v Yurlt rfty offrlni,- Ve Pro ferri Stork ultli a cenrrou bnnui Cipltal needled for ndtllnK oqulrmtiit iiii1 cnhit cxt nulon to inopt urgfnt lerninl" A t hoiro ronneitlon ilrifrinK rarnat nttcntlon ! Trpcflt corpora t1i4 tlrmB tc In c-nTnl nnl fntnllv n rt r(iulro thKP proln tn TH y IM'RD Southnck nnl I-all J' Flroail ht Npw York ( lt Where Your Order Goes- Fend for Booklet 362-T.TJ. vhlch describes JiKt what vour broker has to do with vour order to buy or sell Ftocks before ho can report to jou that It has been exe. cuted It Is an Interesting process, You should read it JONES & BAKER STOCK IinOKEIlS Widener Bldg., Philadelphia Hell Walnut 101(1 1. Kextone. Itace 2200 New York Chlcaco Direct Trliate lrirrj lloston I'lttibarih JOXES i BAKER. Widener Dlda.. FMXadtlpMa. Pa. You may send roe your Booklet 602-T. U. Xame Aidrt s Cilv S(o'e IllVlDKNDS Gill K1 TRUST COMPANY HI'.II tltUhS 1UMI A special dividend or tn per rent (150,000) has this day been declared raiable to hare holders o Olrsrd Trust company on Jnlr Hlh. 1917, ss they stand registered on Jun 3uth ltm 11 Is hoped that Individual shareholder, win contribute, this dividend to the rhlladelphlaCm mlttee of the Hed Cross. In addition to their own"ltts 10 tho fund of One Ilunired Million Dollars under the approval of tho President ot the United Slates, for th car. of our m?n ?n the military and naval forces of our country, snd tor relief of suffering- In the countries of !Sr Allies under the direct supervision of the American lied uralIA JIOnnis Jims 13 1012 Preslde'nl. DAIINKTT Oil. A OAS COJir.VXY Dividend Iso. 3 A monthly dividend of one per cent on tho capital stock of this company has been declared, payable on August 1. 1017. to stockholders of record at the close of business July is 1017. An extra dividend of one per rent on the rspltsl stock of this company has also been declared, payable at the same time. Checks will be mailed June 10. "-CUAS ilADDSSi Treaiur. rinKIITY TltUST COMPANY utin moss Divini.M) A special dividend of one and one-quarter Der rent ($30,000) has this day been declared tb holders of stock of record of this date, payable Friday, June 22. 1017. The declsrstlon of this, dividend Is aecom. ranted by the recommendation of lbs Hoard that Ik. t.w.lthnldera contrlbuta this dividend in .... Philadelphia Committee of the Ited Croaa, In sd anion lu tu.'i w".. ...-. . ...w .uui4 ui 1UU - flOO 000 to be raised under the approval of the ti,.tM.nl nf tho L'nlted Btates for the aa ne men In the. rnllltsry and naval forces of our W'ountry and for the relfef of suff srlnc In the rsountrles of our Allies, under the suusrvlainn TRADING IN COTTON SMALLEST OF MONTHS Waiting Policy in Evidence in New York nnd Large Declines " Are Recorded COTTON nKT.T AKATIIEfl rONIHTIONS , M.H iflRK, June 21 The following temeratiires were reeorded In the cotton belt thl mornlnn Ashetllle Hit (Iklsboms, nie t Imttnnooga and Nnslnllle. no: linoy Jlllc, 1N Abilene, I ort Smith, Little) Itock, Mnron, ttlnnta nnd Mllmlneton, 70. San Antonio. Irkshnrg, Illrmlnghnm and Us lets,!, 7j, mireveiMirt, AlempliU. New .Orleans, Mobile. Meridian, Montgomery, . Aligns!. Thnmnstllle, ss.nnnon, Tnmpa snd Jsekson llle 7 1 Del Itlo, 1'ensnrola and ( harleslon. 111 j ornus I nrlsii, 7H1 iniieton,'s nrrn whs it lorn 01 preclpltsllon at in incn ni l... In ,. . .. . ..n,,,, ,,,, inrn ni ..loniniinirr, . tlinttanoogai .22 Inch ul Oklahoma NEW YORK, June 21 Business was smaller nt tho opening of tho cottin mnrkct than In any time In months There appeared to bo a waiting policy on both sides and brokers had rfew orders beforo tho start. After tho cill tho near months followed tho lend of tho lito options nnd October nnd December, which had declined only 6 and 6 polnls, respectively, fell 17 to 21 points In n few minutes, with n good supply but no evidence of pressure Pressure from rcittcred sources at 10 45 caused a decline In October from 25 15c 10 2r,c At that level stop orders were caught all nround tho ring and In less than n minute n further decline of 21 points In tint option was recorded During tho middle of the day the market was quiet and steady, with October con tracts ruling, around 16 26 to 25 30, com pared with 24 79, the low level of the morn ing Tho nctlon of tho market was considered nn Indication of contracting speculative In terest nnd some traders wero Inclined to look for a period of dullness, with Irregular nervous fluctuations The tmrket turned moro nctlvo ind .ory firm In tho eirly afternoon, advancing rapidly 011 covering nnd trndo huvlng until In mldaftcrnoon prices wero several points over jistordav a close Hpot firms bought October and Janu-iry, one Ilrm taking nbout 6000 bales Contracts for u time were extremely, ficarco nnd shorts had great difficulty In covering hater thero camo a reaction and tha close was from 10 to 95 points net lower Tho exports for the day wero 3468 bales, mostly to Great Iirltaln Total shipments for tho season to dato wero G.005,200 balos, against 5 376, BD5 hales last season Yes. close Open High. Low. 40 .".r.0 .'4 00 .3 30 21 4K 2i 3S .'3 47 24.70 W. i.O i:- 4S 2'. (10 24 - 2V IIS 24 4S 2T .11 l-i 70 13 (12 23 ' 2(1 on DIVIDENDS DECLARED ' Cleveland Autemallo Machine Compsny. regu lar qusrterly ef 1 per cent on. the ?"'"" stock, payable July 2 to stock of record June vj. Manning. Maxwell Moore, regular u"'"'' of 1W per cent, payable June SO to stock of 'tftSF '? iVtSk-J? of tl, share, payable August 1 lo siock 01 "Ohio Fue'l Supply Compsny. regular .W''" of 2V4 per cent, pyble July 14 to holders 01 rfffernde,e!!.anuf.cturlng Company .&$$ iXTblVjlfcr 2rfer.C.'ocK S? recnr7uner'20 "K r ThlrteJnlh and riftrenth Streets ,rssenr nsllnays Compsny regular semiannual of 0 per shore payable July I. nooks close June .0, "'".olMsted Traction Company of New Jersey r.riilsrlv nusrterlv nf 2 per cent, payable July in as resPstered Jun.'30. Hooks close June 30. r,Ohlo Fti?28upply Companr. regulsr quarterlv of 24 per cent, payable July 11 to stock of r'wirons?n Edison Company. TO cents a share, tiavable July Id to slock of record June 30 ThlS Is a reducllon of 50 cents as compared with the list quarter Willys to Head Curtis Aero Company NEW YOnK. June 21. E. W. Wagner tt Co aro officially advised that John N Willys will become president of the Curtis Aeroplane Company when the board of directors meets In Hurfalo next Wednes day The Curtlss Company will spend $!. 000,000 In TJolcdo for buildings containing 175,000 square feet of floor space for the purpose of manufacturing aeroplanes. NEW YORK COFFEE.MARKET NEW TOliK. June 21 The coffee market again acted heavy today under continued liquidation nnd nt the end of the first hour prices had worked oft a point or two from the Initial figures, with the market llite and without speculative Interest at the mo, ment Cotton exchange houses and certain local trade Interests seemed to have con tracts for sale, with the demand comlnJ from scattered sources The local snot market continues very disappointing and hard to quote, prices being purely norni.. at lOo for Rio 7s and 10 i.c for Sintn. . rodAV'a --.. July . . .. August. ... H-ptember October November Jiecember anuary .. -'ehniary Today's open 7 7OW7.70 Today's cinse 7 700 7 71 7 7BC7.S0 7 704T7 77 7,47 87 7 A3 7 Ml March 7.07 7.08 April . May ... 7 R7KJ7RS. 7.0172 7 nuiaa 117 8 0108 03 80808 00 8 1108 13 r'i:,d'. I71,$7si 7 StsII'' siS51 Gold Additional NEW YORK, amount 01 i.ouu.uuu was received from Ottawa this morning for the account n .T P Morgan & Co The r..:5 amount was Bold to tho Federal Reserv Rank. Tills brlngi the total arrivals on the present movement up to $18.500 000 From Canada June 21 Gold to if,. July... October December ranunri . Miirch . Sput .. . 24 83 23 40 Last. Ji 30 20 10 2131 J1 IS 21 12 23.03 Liverpool Cotton LIVERPOOL. Juno 21 Spot cotton was In moderate demand today on the basis of 19 39d for mid-upland, unchanged Sales of the spot nrtlcle wero 8000 bales", of which 7000 bales wero American. Theie were no Imports t W Tho Key Tho Key Ik. to Sound Investing The Question of "Inflation" Financial circles are full of half baked opinions regarding so-called "inflation." The subject is of pri mary interest to all investors and bankers, and we have just issued for our clients a careful analysis of the entire subject. A few extra copies arc available. Ask for Circular No. 171 Moody's Investors Service John Moody, ProsWcnt 35 Nassau Street, New"York V J Wills Dying Without a Will Investment of 'Trust Funds EVERYONE is interested in the new laws approved by the Governor of Pennsylvania on June 7th, and effective after December 31st next, and many may wish to make or revise their wills to cover the changes provided thereby. Our Trust Department's services are offered without charge to all who may wish further information concerning the law, or desire assistance in connection with their wills. ( We have printed a digest of the act, prepared by Samuel D. Matlack, Esq., the Secretary of the Commission which drafted it. This digest vnU be mailed on request Philadelphia Trust Company 415 Chestnut Street : : 1415 Chestnut Street Philadelphia $2,250i000 Oklahoma Gas & Electric Company Dited June 15. 1917 Two Year 6 Gold Notes Due June 15, 1919 ".II .. . ... ..uu .. sot., la d.-oa.lf.Uoe. of II.O0O .?BlOpl,? Itak "WA..? tv.T.' nw!S! Free from Federal Income Tax Not in Excess of Z For information concerning this blue of notes we .ummirite a. follow, from letter igned by Mr. J I O Bnen, Vice-President of the Company: y J J Business The Comrianv owns nrl nnnni.. rJ. .j . i , the manufacture and distribution of electricity and gas. Purpose of Issue Earnings Territory The proceeds of the nnt wi'll ,.:.. it.. .... i- r. r- Cent. Debenture, of the OUalwma Gas fit Electric Company and the floating indebtedness, including the cost sf new properties, and furnish funds for extensions and additions V Net earnings of all properties for the year ended April 30. 1917 after deducting the annual prior interest charges exceed four time's he annual interest requirements on these notes. Net earnincs for he same penod are twice the total charges, including Sest oil incsc notes T!"l0$ 'fn'ed ei)mP1!ses Oklahoma City and environment to SJnw'cS. SaPU'Pa 8nd 0,h" ,0Wn' Wi be edT; co- All ltal nutter In concretion with tit l,.u of th. , . properu.. t... u ,xa.n. TUWa'Vi' Mm"ll UKteMlf tJ ?M ta tSSl Price 99 and accrued interest Dcscrlpllce circular on rtqual William P. Bonbright & Co. Incorporated 437 Chestnut Street PhUadelphia H.M.Byllesby&Co. Incorporated 111 Broadway Now York "tssar" " e,k. 4aMAls4n Tl aif 4i-rvBii v1 ,u. ...,v.. -"-iffi-,1,. . 'fc4 we 1, asrsj ,j Ttsiaiat. rA-?-. njavi4H6Lt fev.. mmmmm1mmmHl'm'mmmmL-llLL' m " i i , i ts4aj.
Significant historical Pennsylvania newspapers