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EVENING- PUBLIC LEDGER-PHIkADELPHIA, WEDNESDAY, rEBRUART 12, 1919
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' ,m'i; Safe- Tjm Seeurt
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SEVEN PER CENT
PARTICIPATING
PREFERRED
SECURITIES
Write or phone for "The
Semaphore," which explains our
flan of safeguarding securities.
H A'&ntin&CnmDanu
MMImKf - -. j
WirfenerBWg.
Philadelphia -JJ
y i
WANTED
President for Industrial
An old-established nnd well
known manufacturing, concern
located in Philadelphia seeks a
highly trained nnd able Indus
trial executive with financial
experience to assume Presi
dency of Company. Gei.eral
executive ability and past
achievement as part of execu
tive statt of some ertlciently
managed and successful Indus
trial more important than tech
nical knowledge of this par
ticular business. Latter one of
the country's Important Indus
tries with great expansion Just
ahead. Liberal salary and par
ticipation In profits. No In
vestment required. Reply
through representative If de
sired, giving qualifications.
Industrial Executive
ROOM 509. WIDKNEB 111.1)0.
, riiir.ArKi.i'iiiA
' MR HAAS
lately of the Income.
Tax Department
Washington, D. C.
INCOME TAX
CONSULTANTS
Specialists In preparing
and filing returns, auditing
and closing books for cor
porations, firms. Individ
uals, estates, trusts, etc.
Mr. Haas, 5 years, Mr.
Carr, 3 vears. with the
Internal Revenue Bureau.
HAAS & CARR
Public Accountants
Pennsylvania Building
Spruce 915
MR. CAIIR
formerly Revenue
Agent. Income Tax
Department
Philadelphia. Pa,
U. S. LIBERTY BONDS
$50, $100, $1000
BOUGHT. SOLD AND RKCOMMENDED
FOR INVESTMENT
Kewburger, Henderson & Loeb
1410 CIinSTTT STREET
Members N. Y. and fhlla Stock Kichante
nNANCIAL
Annual Meetlnga
"...u- TUK Uti LO.VU 11UUK AMI Lli;
I3P CUMI'ANV
NCrTICE TO STOCKHOLDERS
NOTICE 18 HEIIEUV GIVEN that a Sj.e
ell Msetlng of the Stockholders of -Tha
SI Long Hook & Eye Company will be held
5n April 3. 1I. at 11 o'clock a. m.. at th.
efflce of the Company. 2at and Clearfield
St:. Phlladtlphla.. to take action on -the
approval or disapproval of a proposed tn
ereaa of Indebtedness of the Company In
tha rum of four hundred thousand dollars
11400.000) to b secured by morteage upon
ill of the real and personal property, rlehts.
BiiTileges and franchises of the Company.
Br order of the Board of Directors
T. M. BATON.
Secretary
COMMERCIAL TRUST COMPANY
Phlladelohla. February 12th. lnin
k The annual meeting or the stockholders
of the Company will be held at Its office.
Commercial Trust Building. Philadelphia, on
UMJar. Kehruarr 17th. 1010 at 2 n. tn..
lor the election of aeven directors, and the
transaction of such other business as may
j B J. WATTS MEP.CUR. Jr..
Assistant Secretary.
Proposals
MnrOHALH TOR DRKHr.INO. u. s.
CHIimfr MlirP iiunvi('"" n-rii-ii
ropotali will be received hr until 12
Mn. Marrh 11. 1910. nnd then npned. tor
red IT tnr in Delaware Tllver. In PhlladelphU
Harbor and on Nw Caetle. Reedy Xiland.
lULker ana L-ituon ijiKninitu"i itaiij.tri, cur
thr Information on application.
,WAR LIQUIDATION
BOARD IS FORMED
Commission Named by
Secretary Baker to "Wind
Up Affairs Abroad '
'TO SETTLE ALL CLAIMS
iv
&J' By the Asiociated Prets
Washington, Feb. 12. Appointment
f ' "the United States Liquidation Com-
' 'mission War Department," to liquidate
v' , 'the) business nnd financial affairs of the
"'",, American army In England and France,
1 trtm announced today by Secretary
ST Baker. Edwin B. Parker, of Houston,
'.,rfex, Is chairman.
j, The other members already appointed
lira Senator uenry r. iiouis, oi i
HamDshlre. whose term In the Senate
(expires March 3 ; Homer H. Johnson, of
Cleveland, ana ungaaier uenerai
Charles O. Dawes, of Chicago, who Is
serving now with the American Expe
ditionary Forces. A fifth member may
w a fc appointed. Senator Hollls and Mr.
U Jfrtroaon will depart for Europe in a few
f flayi and will be followed later by Mr.
, In 'addition to settling all claims of
against associated governments, me
ilsslon will te empowerea to ais
of movable and Immovable proper-
In France and England used by the
lean forces and "generally to iiqui
tha business! and financial affairs
frrmnce ana ingianu oc iuo Amen-
will be maintained In Parts.
Claims against the French and British
Governments growing out of arrange
,mnta and contracts made in the United
tate with the War Department will
. developed, disposed of as far as
tcabie. ana men rcicrrvu iu ma
lailon commission for final dlsposl-
by Chester W. Cxithell, who re-,
, was designated ty tha Ee-rretary
War aa apeutal representative of the
meat. lor this duty.
cheme of adjusting thus the obll-
and disposing of me property or
loan expeauionarr lorcea was
by General Pershing, and it
worked out tn detail by Sec
tkr In conferences with Ed.
gssillnlin Assistant Secretary.
BANKS AND BROKERS
OBSERVE THE HOLIDAY
Tickers Arc Silent and Finan
cial District Deserted ns
Tribute to Lincoln
This being the anniversary of Lin
coln's birthday and a holiday, the banks
and trust companies of the city nnd the
brokers' offlces, ns well as the stock
and commodity markets of the countr
In general are closed.
During the flrtt dais of the week
trading In stocks has been very light
.,, ... , . n ii i
nnd the Impression generally prevailed
that the market had been sold out. I
Prices, which had declined to almost
rock bottom, have begun to show some
signs of revhal, due In largo measure
to tbe belief that the danger point In
labor troubles had been passed and the
certain signs that prices of commodities
were rapidly coming down. It Is further
belleed that this will be followed by an
even greater decline in the price? of
steel and other Industrial necessities.
A spirit of greater hopefulness for the
future appears to prevail generally and
higher prices aro looked for in the stock
'market during the remainder of the
week.
MONEY-LENDING RATES
I'llII.ADni.PlII.V Call 5Vj6 per
cent ; time, 5',i0 5'2 percent. Commcr-
elal paper, three to six months, GHJ i
per cent:
sixth months, 6 per cent,
u i .. ..-
1 orders has developed from these ln
1.0.MIOX Money it quoted at 3'1 per qulrles.
cent. Discount rates, short and three-,
meTitli bills, 3 1T-32 per cent.
LIVESTOCK QUOTATIONS
Chicago, Tell. 12. HOOS Receipts. 'JO 000
lieail. llnstly So to 10c higher than es
terday n Hvernjrp, closing weak: bulk of
ales. 1T R5tlR n."i. Hutchers. $17 fiOfD
ix l.i; Ilsht. UT.nnfm: packing- Jl.snisj
17 75; thrownut tin 2310 73. pigs good
to rholre, Jin .low 17.M.
lATTi.i-, n-elpt. MM) heaJ Market
mor aetli uteady to stronit: calvea tlo
to 2.io lower. Meef cattle. Bood, rholc an.l
prime. $10 .".020; common and medium
Sln.snfMnsris butcher slock, cowk and helf-
?-' "if.Atl:" "?" ,"nrt cutters. -..-
vn ,. atockers ami feeders (rood, rho ce
and fancy. Jin r.n714 r,0; Inferior, common
and medium. JSW10 r.O; eal calves. booJ
and rhoice Jlsir,.oo
SHKKP .Becelpts. snor) head Market
?Kre.n5m iim-uiiTfSirJLv,.",rn',r I'mbi
wWteVixTo&lSg
choice and prime Jll 2.-01I. r,i: medium and '
good. J0.73O11.23; culls. J3.738.25. I
ritUhureli.
feb.
12 HOOS necelntn.
loon tiean.
i-nrl,. 11J
lis eoow'fb' li'ht !orkear.a J?8 "? I " demand since the 'war ended, and a
is.i.ui8.,o. rent jorkers, jis..3.larce number of conlracU, have been
Dlirn JtS. ' 3 " ' i
sheep AND T.AMPS rtecetntn. Kfln hnd i
Aetlie. Top sheep. J12.SO up: top lambs, j traded for during the war, is still com
"cAi.vn.sneceiot, ion h.d m.,a. . 'ns freely Into the country, although It
100 head. Steady.
Top. J18.
St. T.onl. Feb. 12. Hfjosp.eeoin...
1R.OO0 head. Lower. Wehts. Jl7.nowi7.7nj
pies, Jl2.r,ni7: butchers. 117.00818.15; I
heaw. J17.D0O1R.20.
CATTLE Receipts r.000. head Sleadv.
Native steers Jll r,nls.r,0; heifers JO .'.OB
in cows. J 7. ."in W 12 so- stockers and feeders.
J8.sn12: calves. J7.73M3.M.
SHEEP Itecelpls. r.OO head., Lower.
Lambs. JI0.23S17.3.V ewes, J8.30S11.23.
Eat ISofTalo, N. Y Feb 12. CATTLE
Receipts 0(10 head. Easier. Calves, re
ceipts. 130 head: 60c hleher. $5020.
llMIC TAn tn. IdlVl Ua-.I Y,l- O fT
hwu.t ,iniiin. ., ur-nu. i jkr, ji-
lower; others Bo to IKo hljher: heavy and I
mixed. J1S 30' rkers. J18.7.-,ai8 00 llcht
orker. J181R 23: piss. 18; throwouts. ,
Jl2frfin-stairs, Jiossi.i.
SHEEP AND IMDS Recelptj. 2100 I
head. Steady and unchanged. i
Kansas City. Feb,
.noft head. Ilwer.
12. HOGS Receipts.
Heavy. J17.3Sff 17.T3;
butchers. J17.3017.75
pies. rwin
lights, $17017.30;
lai iuc ii-ceipis, iiihui neaa. ateaay.
Prime steers. J18019; southern steers, nomi
nally. J7fi13; cows. J7K14; heifers, J80
14.3(li calves. J7614.
SHEEP Receipts.. 4300 head Sfesdv.
Lambs. J10 30M17: vearllnas. Ilo.r.niniir,.
.....v.--- laAln -.! A.. -. -in .ne.ii nn
nEllitt.i wv. uu. hnca, W.UUl. Ui
LOCAL MEAT MARKET
The following report on the fresh meat I
tradn tn Philadelphia la furnished hv th
local livestock and meat office of the Bul
reau oi .MarKeis, Limiea aiaies department
of AaTlraltur.
FRESH BEEP Receipts moderate, mar
ket steady to Arm demand only fair at
prici nuked.
STEERS Receipts moderate, market firm
'at tun to $29, demand fair.
COWS Receipts moderate, market Arm
on Rood rows at S2l to $24, common kinds
slow nt $18 to $20. demand fair.
VEAL Receipts Ilcht. market stronff at
$1H to J2.r demand improved.
rORK Receipts normal, market steadv
to a shade hfffher at $20 to $32, demand
fairly acth.
LAMM Receipts llcht. frozen stock of
fered, market firm at f2Q to $32, demand
good,
MITTTON" Receipts llitht. market steady
at lit to - aeinana roou
the
11 tL'IWlultll 11
'T'HE taxes which your business must pay
- on the 1918 turn-over have been materi
ally changed by the Law shortly to be enacted.
We' can help you simplify the work which
will have to be done to meet the requirements
of the law. Taxpayers will be particularly
interested in the new rules governing inven
tories, losses, amortization and invested capital.
You can begin immediately to compile the
data requisite for your return if you are in
formed as to the most important changes
that have been made.
It is particularly important for firms and
corporations to be able to compute their
1918 tax at once in order that they may
make out their balance sheets aa of the
close of their last fiscal year. The 1918
tax will be payable over the entire year
and in most cases will constitute a very
important item in the balance sheet.
We have issued a pamphlet designed
' to help business houses in the prepara
tion, of data for their returns.. We shall
' be glad to give you a copy.
This applies only to iacome from business
Please specify the Tax Circular No. PE-201
The National Gity Company
Corrttpondent Offices in met than 30 Cities
VmiADKVnuA 1421 Chtstaut Street
BUSINESS NOTES
The London Mfonomlnt'i Index num
ber for British commodity prices at the
end of January shows a total of 6851,
the lowest reported since February,
1918. The latest level represents a de
cline of 243 pclnts from the end of De
cember nnd Is 416 points below the high
record1 reached at the end of last Au
gust. i
The energetic Japanese hare Increased
their exports to Australia by nearly
eleven millions annually over the pre
war figure. The chief Increases are In
textiles nnd earthenware. A mission
sent by the French Government has been
tourlnp the commonwealth for tlio pur
pose of opening new opportunities for
trade development with France.
rrellmlnnry crop report from Argen
tina give the following figures: wheat,
5.016,0.0 tons, with an exportable Bur.
Plus of 4,300,000 tons; linseed, .05.000
tons with an exportable surplus of 678-
000 ton. oat. iuo.OOO tens, with an
exportable surplus of 460.S0O tons,
A London dispatch sara Oreot Brit
ain has given out contracts for 100
ships to start coast war trade.
V The United States Oorernment's guar
antee of wheat prices will end October
15, 1920, Instead of December 31, 1920.
Western merchants, who are optimis
tic, urn buvlnir elassware and crockeri
In better volume than eastern traders.
Lack of buying In the East tends tr) re
duce the total volume of orders'. East
ern buyers declare they must get lower
prices In order to Induce them to trade.
Manufacturers retort that they are tied
un with high wage scales until next
j July. In this Industry wages are fixed
' for what 1h known an the period of the
fire," meaning the time uurmg wuicn
the pott' are operated, the season usually
extending from January to the end of
.inn... rcxnnrtnm are lnaulrlng for prices.
r -. : .: . .: - - - ... i
but thus far little In the way of actual
3overnment control of the wool situa
tion In Great Britain Is relaxing to the
point where, accrdlng to recent advices
from Bradford, Knglnnd. dealers expect
much greater freedom of action will be
glen them In a couple of months. The
London tales by auction are to be re
rumcil early In April, while Kast India
wool In the near future i 10 uc iree
nnd by-products will also be removed
t0 a large extent from control.
l "e ;
... , . .....i..- c...i
The American ronu! at Durban, FiAUtn.
Africa, has transmitted the nnme of a
(lrm that dcslrct' catalogues of IcMlle
" . i,irX It l nln rpnuested that
maclilner. "Is a'" ruplc. ' M'-JJ
duplicates of these catalogues be sent
to the consulate at Durban. The name
of the Inquirer can be obtained from the
Bureau of Foreign and Domestic Com-
merce or Its district or co-operative of-
flees by referring to fllo Ao, 107600.
In the ferroinanranese market condi
tions are unfavorable. There has been
larce
nncoltcil Hrazlllan maneanese ore. eon
la not needed, as there Is sufficient man
caneso ore nnd ferromanganese here
now to last the country at least a car.
Ferromanganete Is now quoted at from
1175 to $200, as compared with a war
price of $250, and probably could be
bought for lesn, whllo manganese ore,
sold on contract during the war at $1.30
per unit, ii now being offered for re
sale at reventy cents per unit, or oven
lower. Other iron alloys, such as
splegelelsen and ferroclllcon, are In the
same position, there being an over sup
ply nnd no demand.
T.nr inrmmi cTirr"rc
PHILADELPHIA MARKETS
,...,.. ,.j ...j. ,i,.. ....
"" """ "'" """ i,, ..:.
c osed In observance of Lincoln a Birth-
day. a legal holldny, and wholesale
hn-inesn was susnended. In the absence
0( fresli data on which to base reliable
mintatlonB. our usual report of the mar
kets is necessarily omitted from tcday's
Issue.
Chilean Financiers to Visit U. S.
Santiago, Chile, Feb. 12. A Chilean
Onnnotni nnd commercial commission
1 will leao here on February 27 to spend
fifteen days discussing financial and
commercial subjects in the United
States. The commission will travel on
the Chilean steamer Aysen.
Stocks Ex-Dividend Tomorrow
The following stocks will be quoted
ex-dlvldend tomorrow: Buffalo, Roches
ter and Pittsburgh common, 2 per cent,
and preferred, 3 per cent; Detroit United
Railway, J2; International Nickel com
mon, 50c; Pltsburgh and West Virginia
preferred, 14 per cent
CHICAGO BUTTER AND EGGS
Chicago. Feb. 12. BUTTEP. Hleher.
Creamery, 3S47c.
EOGS Iower. rtecelots. 10 2B.1 cases
Firsts, 38c: ordinary firsts. nV4 37c; at
mark, cases Included. 3Gtal37?c.
Anticipate
New Revenue Law
CITY'S TAX RATE
HELD EXCESSIVE
More Exacting Standard Is
Urged by Municipal Re
search Bureau
QUOTES 1918 SURPLUS
Unncedcd Revenue "Would
Have Justified Reduction
of 25 Cents, Asserted
x
The Bureau of Municipal Research Is
urging adoption by the city of a more
exacting standard of obtaining sufficient
revenue to cover municipal expenses. In
its weekly bulletin, under the title "What
should the 1018 tax rate have been?"
the bureau publishes n resume of the
tax situation, Including a suggestion that
the city's expenses might have been cov.
ered with a rate of $1.50 Instead of
tl.TE.
"Now that the year 1918 is completely
behind us, and the, city's accounts for
the year closed, and a preliminary re
port of the city's (Inanclnl operations
and condition presented to Councils,"
says the Bulletin, "the time is ripe for
citizen-stockholders of our Immense city
corporation to review the financial re
sults of the past year's operations.
"Our city Is n huge business corpora
tion, organized for the common good. Un
like ordlna'ry business corporations, It
does not exist for the purpose of making
monetary profits for Its stockholders.
Neertheless, Its financial operations nre
essentially the same as those of a rail,
road, 'a telephone company, a steel plant,
or a department store.
"Before a profit-seeking undertaking
can show a profit for a ghen period It
must obtain enough menue, or earn
ings, or Income, to cover all Its expenses
(Including depreciation) In other words,
it must maintain Its net worth.
"This brings us to what Is, perhaps,
the most Important point to be watched
In the city's fiscal operations.
"ray-A-You-flo rlau"
"It Is contended and admitted on
all sides that the city should pay.as-lt-goes.
Uvery one seems to believe this to
be the first canon of the city's financial
program.
"But what Is meant by pay-as-you-go?
Ilke most popular slogans, this one
does not define itself. Nevertheless, it
Is perfectly clear from the explanations
that are elicited from time to time, and
from the attempts that are made to
force a pay-as-you-go policy, that It
means obtaining sufficient revenue to
cover expense that Is, to maintain the
net worth.
"The strong movement in various
parts of the United States for limiting
the term of bonds to the life of the
assets acquired with the borrowed
money Is one of the many more or less
crude means of seeing to It that ex
pense Is fully covered by revenue. The
!;iC!5i3!ll!I!llj;i!:!iHi'iI:!;;,,!!;:!i::i,i:iL!!;!C;ll;llli!;i!!!:!!l::iii':IIE:
Doubled their business
by selling their accounts
SY1TKM9 ISMtUINKOAT M1NOM.L
IOW ILLINOIS
Mttaeimi hansas
Mll(let HtMaKA
OHLAmOWA TTXAS
ARKAK1AJ TENNCS3CC
VinlNIA NOATM CAKOUNA
OtTH CAttCMJNA ALABAMA
BOAIA LOU)StANA
rLOmsA minmcsota
mOVTH DAKOTA WISCONSIN
NKWVOMN NCWJCNSIT
3J LSdr
NOTE: The above concern has a net worth of $217,144.09.
Commercial Credit Company, Baltimore, md.
n Cash Capital $2,250,000 Surplus $450,000
Represented at NEW YORK PHILADELPHIA BOSTON CINCINNATI
t 'tin
to 1)1
Lie tax-
payers should be required
ay for
what they receive from the government
is nnother form In which this slogan
Is defined.
"It Is obvious that cities, business un
dertakings, and individuals cannot be
said to pay an. they go unless they avoid
nn Impairment of their net worth. Main
taining net worth means simply 'obtain
ing BUlllclent revenue to cover expense
replacing expired value by earnings or
Income. Ordinary business undertak
ings recognlte this without question.
Cities nnd other governments are begin
ning to recognlra It also.
City Surplus In 1018
"Let us now see whether tn 1018 the
city paid as It went. Let us see whether
or not the revenues equaled the ex
penses. An examination of the city
controller's preliminary annual report
for 1018, issued to Councils on February
C, shows that the city's revenue ex
ceeded the city's expenses by more than
14,000,000, 'In other words, the city not
only lived up to a strict jjay-as-you-go
policy during 1818, but It "got ahead"
by more than 14,000,000.
"In view of the fact that in many
oft-repeateil assertion that
NATIONAL TAX AUDIT BUREAU
TAX EXPERTS AND PUBLIC ACCOUNTANTS"
408 COLONIAL TRUST BTJItDINO
irltrt and Thlrttcntli Stretti
.Spruce 105 Race 004 " '
INCOME TAX AND EXCESS
JOHN F. McEVOl'. Cooni.l
Formtrl; Chltf Drpulr Cdlrctor U. S. Internal
Itetcnue
LEON' J. BC.VA5IV. TuMle Accountant
Tormcrlj Deputy Collector U. S. Internal
Iterenue
JACOD 1). HOFFMAN. Minaicr
rormerlr Deputy Collector U. S. Interne!
Iteeenuo
.illlltlliiilllllllllilllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllL'l
f Keep Your Money
I Working
5 Put every cent you can spare into good bonds and
: vour money not only will be
bond will bring you a definite income.
We have a selected list of sound investments that
vield from five to seven per cent We can arrange it,
if you desire, so that a
month. Write us for further information.
West & Go. .
BANKERS
1417 CHESTNUT STREET
. ,.. J Kerr Tork Stock Exehanf
"rtm 1 Philadelphia Stock Exchaac
Tiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiriiiiiiiiiiiiiiiiiiiiiiira
im&!&
ClTltS f
INOIANA
OHIO
MICHIGAN
KINTUOMV
WltTVinlNlA
hoatm oakota
fMHSVLVANIA
HAVth(,
NKVAOA
AWIIONA
CCLCWAJII
OutdoorAdvertising Service
141-10 WEST OHIO STfteEt
Chicaoo. 'Jan. -9th, 1919.
-
Conoisrolsl Credit Co.,
Baltimore. Uarylaril.
Gentlemen:
In reriewlng our Auditor's reporte of onr bnoineBB for
the laBt 18 months, sinoe we be pan doing business with
you, we find. the results so gratifying as to possibly be
of interest to you, and if desired you may use our name.
When we began doing business with you some 18 months ago
we were not in position to borrow from our banks the
large amount neoeBsary to oarry on our operations on an
extensive scale, and oould'see no way of doing so unless
by an inoreased capitalization.
Through your plan of oashing our aooo.untsT'we have'sooom
plished o.ur aims by having 'more than doubled the Volume
of our business, and have placed thiB .company where it is
now perhaps the largest of its kind In the oauntry -all
this without increasing our capitalization one dollar.
Today our stockholders are in positiomto retain all of
the future profits, without having to share them with
added stockholders.
We have often wondered why other oonoerns do not avail
themselves of a system such as yours, thereby keeping
-their profits PerhapB it 1b beoause of the-mistaken
idea sometimes prevalent that your plan is not good
banking, an idea that would quickly be eliminated if a
little time were spent in analysing your plan.
Because of our growth, our banking connections are
now suoh that we ban 'secure all of the assistance which"
we may need - yet we oonsider it a good policy to con
tinue our relationship with you whereby an immediate
conversion of ao'oounta into oaoh, without disturbing our
customers with notice, will enable us to complete even
larger undertakings.
Tours very truly,
kTHS BRBKB.
BAB SB
ASpatei witk
previous years the city habitually got
h)iln1 fhl. la n pood showing. Of
course. It is well to bear In mind ttiat
the city tax rata has been Increased
from 81.00 in 1916 to 81.75 In 1B18.
..I .- .... .!, the City Should
Lhave nlmed simply to obtain enough
' .. 1 span Bl
revenue to cover expense -
tempt to pile up an Increased Inheritance
for future generations an Inference to
be drawn from the attitude of n great
many taxpayers when the tax rate was
(lxed the city In effect levied $4,000,000
more taxes than It.Bhould have done.
This more than 4,000,000 of taxes rep
resents one-seventh of the taxes raised
by the 81.76 rate and therefore is
equivalent to twenty-flve cents In the
tax rate. Had the city levlod a .tax
Just sufficient to provide revenue and
enough to meet expenses the tax rate
would have been J1.S0 instead of 81.78.
'This bureau is not advocating that
the city limit Itself to the securing of
sufllclent revenue to cover Its expenses.
A more exacting standard should, per
haps, be adopted and ndhered to. The
city positively ought not to be satisfied
with any less exacting standard. It
PROFIT RETURNS PREPARED-
This Korean consists ef n staff of farmer
Revenue Officers, who possess, a knovrledca
of errry phase of Taxation, and are com
petent to look after the Intricate lrcal.
'technical, aa well as aecoontlns "matters In
connection with the preparation of Income
Tax and War Profits Tax Returns.
Folder, "Income Tax-Excess Profit Re-'
turn for 101B-19," sent upon request.
safe, but twice a year each
coupon will come due every
iniDimiiiiuiii
'TEM,
j
uMnatm ,
Miw
'
should be seen to that Us revenue at
least eauala lis sinenua. And what Is
of equal Importance, the city should set
I.OBT AND FOUND
BOX Lost,
black tin box mornlnr of Feb.
between Broad Ht, citation nod
ruary u
M!tfni-i,unStlon box marked J. L. Price.
epntalnl.lr dlscharaa. Inauranp rtanArs. tr
.-- --. wwwwrit urunti nil t
inEal? r "turned to Union Transfer Co.,
1'Kit Boring Harden.
C?.5:L,"t ?.1.F,b- 2 ttrllrur silver clrar.
s-inli'.9. ci" wh enjrraved Inltlala -o. XI."
Finder please telephone otn. IBot XV.
TlTAlfftvn nit. ntdt . -.
-l.. vrfc v.t " "tones, lost on
Monday, February 10i stamped li 8098 J.
?' ft & f,'5erJl rtftta It returned to
J:..BJ..C1,W" Co- Juniper and -Cheat.
K'.,iifiiTJt- v!.n Monday one baroque
I.T r.-i. -ii i , i"."1 reiurneq to
fJ1E!CaI(larell ft Co.. Jun ner anil rhe.mi
MUFF rost, muff, northbound rr vi ir,-b
road.
ay .afternoon. Inexnenslvi. hut
a gift.
r....- nn. . ' - ,'
unier. kuiu cora at..
uermantown.
Annual
Fidelity Trust Company
PHILADELPHIA, PAa
.The annual meeting of Fidelity Trust Company was held
today at its office, No. 325-331 Chestnut street and 43-53 South
Fourth street.
The following directors were elected:
HENRY W. BIDDLE,
WILLIAM P. GEST,
EDWARD WALTER CLARK,
JOHN S. JENKS, JR.,
CHARLEMAGNE TOWER,
EDWARD T. STOTESBURY,
MORRIS R. BOCKIUS,
G. COLESBERRY PURVES,
SAMUEL T, BODINE,
JONATHAN C. NEFF,
SIDNEY F, TYLER.
' . DANIEL B. WENTZ,
JOSEPH E. WIDENBR. .
William P. Gest, President, presented the annual report,
which showed net earnings for the fiscal year ending January 31,
1919, 'of $1,551,787.99
Out of this there were paid four quarterly dividends of 6
each on $5,000,000, aggregating $1,200,000. "
Jn June, 1918, the Company contributed $70,000 to the War
Chest, payable in one year in monthly installments, the first
installment being due July 1, 1918.
On account of depreciation in the market value of securities
the Company Has charged off the sum of $533,885.65 to Undivided
Profits. , x
There was also paid to all employes of the ComrJany, except
officers, th? usual additional compensation of 10 on their
salaries, and also a special further compensation of 10 in
addition thereto.
After the above charges' and all other expenses the Undivided
Profits stood at the close of business, January 31, 1919, at
$862,622.09. '
The progress of tbe Company during the last eleven years is
shown by the following comparison:
On January 31, 1908, -the capital stock was $2,000,000, the
surplus $8,000,000 and the undivided profits $887,196.56. On
January 31, 1919, these figures were as follows: Capital stock,
$5,000,000, an increase of $3,000,000; surplus, $16,000,000, an
increase of $8,000,000; undivided, profits, $862,622.09; showing a
net increase in the capital, surplus and undivided ' profits of,
$10,975,425.53. This increase has been attained after paying, out
in dividends the sum of $9,160,000 and special compensation to
employes aggregating $234,290.99.
During the same period of eleven years the trust department-
shows a Targe increase in the amount of trust, estates. On
Jrnuary 31, 1908, the total amount of real and personal property
in charge of the Company was $122,797,740.91
On January 31, 1919 j 233,400,204.02
Showing an increase for eleven years of ,$110,602,463.11
CONDENSED STATEMENT
FROM FIFTY-THIRD ANNUAL REPORT OF
FIDELITY TRUST COMPANY
At the Clou of Iluslness, Januarx 31, 1010
RESOURCES
Cash In Offlr. JA.-.7, 313.07
rash In Hanks 2,254.010.00
Fnlrral Rrstrrr Hank... 2.4X2. 1IS.4D
Tlmr and Call I-oan 25.540.057.44
Mortcaces 4.4110.1100,00
Honda and Stocks 23.311,121.51
Real Ratals ,Jt M88,S7.65
Cus. I.la. air Arceptanc.s 70n.00fl.oo
Miscellaneous 280.094.7(1
$00,517,808.01
325-331 Chestnut Street
43-53 S. Fourth Street
Our Federal Tax Booklet
is Now Ready
UR booklet ori the new Federal Tax
Law is now reacly for distribution.
This measure, now pending in the Senate,
affects individuals, corporations and part"
nerships. ,
The booklet contains the full text of the
income tax, excess-profits tax, and sother
provisions of the new Revenue Act, with
explanatory summaries and examples of
the application the law.
Copies of this booklet may be obtained on
request. ' 1
We shall be pleased to assist you, without
charge, in the preparation of your income
and excess-profits tax returns when forms
are issued by the Treasury Department.
Guaranty Trust Company
of New York
140 Broadway
New York London , Pari'
, Capital and Surplus ,
Resource more than
Clayton F. Bnks
CfripwJait
.. it. nntixv In terms that are self-
.mlflnatory. and thus Insure the, accom- Hfl
pllahlnB of results sought."
HELP' WANTED FEMALE. ,
BOOKKEKPEIt ' t
Experienced en Burroughs posting nschlBe f
..lUfVI.IJ M --
APPLT
PUBLIC I.KDaEr COMPACT
6th and Chestnut sts.
Ask for Mr. Wlest
f I
BOOKKEEPER TUB ACCOUNTING DBj
"tfilSStlim. ns -run Ptlllt.lr! I.F.nnEll
COMPANY DKBIREH THE HEHVICE8 OK A !A
TOIINO WOIAN WITH NOT UESSTIlAjl ,'fe
2 TEABS OF 1IIOU SCHOOIj TBAIUlfiu lilt "-J,
ITH EQUIYAI.ENT. ASK FOR MR.PniCE. J
runMO iJeookR COMPANY. SIXTH and Q
CHESTNUT BTrlj W
CHAInERIAID and waiting, first ,olaaa.
041 yoverprooK ays.
Philadelphia, February 11, 19191
Meeting of
LIABILITIES
Deposits j S20.01l.2gn.77
3V,(il
I'roflt anil Loss 8ff2SA22.oa
Capital Stork 5,000, uoo. on
Surplus Fund 10.0OO.mto 00
Hills 1'nynble 8.0.VI.7D2.4U
Arrrued Taiest 252,723.30
Acceptances Kxecuted for
Customers 700,000.00
Miscellaneous 34,403.10
SS0.517.898.0I '
Broad Street Office:
N. E. Corner
Broad and Chestnut Streets
$50,000,000
$700,000,000
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