iMSBasmmW&BEHSWmyms&mi "V fflUHKWW. MSB J'H VWJ 'WiTf BRWJ,.F7lljaHRWJIfW'S' X.t W " -nTHMmBWVB'yA' ,iCWMBW.'-i"-,"5,i.,YTWqBHISMWy.Wl ?' 1i?7 rear C a" vr WMW Ww! . ' - -- - , .. .i i j i. .... .. . , . . , ', ., ;' ?VYi;66Ur.T,ArCAPE MAY I T m. ., .. ... i i 11 .1 -ii - General District Court-Martial Is Discontinued by United States Boston. Juno 0. Announcement of the Intention of tlio Nnvy Department I' to establish court-martial hcadmiarters at Cape May, N. J., was made at the nary yard here yesterday. The plan provides for the discontinu ance of the general district court martial, which has been sitting here since tho United States entered the war. Ia Head Frame, nml Crasher House. mnire Steel and Iron ( ., ntford. N. J. , Structural Steel For All Building Purposes Bethlehem Construction Company Engineers Fabricators Erectors BETHLEHEM, PA. GOSSIP OF THE STREET EUGENE VELLNER Manufacturer and Importer Asilias Colon, Dje Staffs and Cbcmicali SOFTENERS tod SOLUBLE OILS 271 South 5th St, Philadelphia O. W. KETCHAM Mnnofatttirer of .Architectural Terra Cotta, Bricks Hollow Tile, Etc. The JOHN T. DYER QUARRY CO. Birdsboro Trappe Rock HARRISON BUILDING , Philadelphia, Pa. NAGLE STEEL COMPANY Mlirl'INO IIIU.KXT LOTS STEEL PLATES and SHEETS WITHIN TWO TO FOUK DAYS POTTSTOWN, PA. . rnn. ormcK. hu morris ni.no. N. Z. GRAVES Incorporated 22 and 24 South Third Street riilladtlphla flia House of Piietliilttei la Faints aal Varnishes THE BALDWIN Locomotive Works Steam and Gasoline LOCpMOTIVES Philadelphia, Pa. SEVERAL 5-ton used trucks for sale. Tho Baldwin Locomotive Works, 500 North Broad street. BARGAIN HUNTERS ALONE DISAPPOINTED B Y MARKET t Had Expected Chance to Buy Stochs at Declines in Last Hour Yesterday Gossip of the Street THE only persons who seemed at nil disappointed with the action of the stock market yesterday were the bargain-hunters, who were liancliiR around the brokers' offices with the hope of seeing n fnllluc off in prices immediately before the close. One of these remarked to n well-known broker, ns he cennned tho quotation board, "I see no bargains here nnd I may as well rIvc it up for the day." Tho broker replied: "There is virtually nothing but bargains on thot board. At these prices there Is scarcely n stock on tliat list." he remarked, "that will not appreciate in price within the next few months." The revival in the market yesterday was due, in tho opinion of brokers, to the support which they anticipated would come from the tinaiicial Insti tutions in the form of cheap money nfter the demoralization nf the closing hour on Tuesday Inst. Contrary to almost universal conservative opinion expressed after Tuesday's reaction, the market almost nt once assumed Its specialty chnracter to nn extent which was not anticipated. In 'speaking about the money situntion jesterday, nn investment banker said that from his standpoint he could see nothing wrong with the money situation, nnd he was unwilling to credit it ns n reason for the slump nn Tuesday. There seems to be a difference of opinion among brokers as to ulmtw'tlie brenk on Tuesday was n one-day affair or the beginning of a reaction which might extend over two or three weeks. The course of the market yesterday would seem to confirm the former view. More Discussion of Mercantile Marine When the attention of n prominent banker wns culled a few dnjs ago to the statement of n certain stockholder of the International Mercantile Mnrluc that the company could operate ns it is now doing for two years and at the end of Ihnt time would be so well off that it could afford to sink its whole fleet of vessels nnd be $100,000,000 better off than it would bo if it accepted the offer of the Ilritish syndicate for the purchase of the British tonnage now, he said: "But who is going to gunrantce the profit) for the next two jenrs or say that they will come nnj where iipht what they have been during, say, the last two years V" Of course, he placed his finger on the weak spot of tho stockholder's stntement, but now conies the secre tary of the Marine Corporation with nn estimate of the earnings for the current year, based on the improved earnings for April, and which, he says, will exceed the earnings of till" and WIS from '2o to tiO per cent. The peculiar point about this statement, ns pointed nut by n broker, is that the Marine officials are using it ns an argument in favor of a sale. "There is no telling what may happen," he remarked, "nt a stock holders' meeting, nny more than one can be certain what a Jury may do; but burcly, in the face of such an outlook, the stockholders will never ratifv n sale, especially when the consideration they will actually receive in return has' never," lie said, "been clearly explained." A prominent bnuker whe,n speaking of the misunderstanding, ns he' put it, between n certain well-known financier-politician and John Skclton Williams, controller of the currency, said that while he held no brief for ControUer Williams, he believed in principle he is right. Knowing both men personally, he is no doubt impartial. "In many ways Williams is a most admirable man. although he has few friends to snv it," he Bnid. "His one great drawback is largely tem peramental, if I might so put it. Mr. Williams lias a most disagreeable way of saying agreeable things. He doesn't mean it, and, ns I have said, t fault Is temperamental." Continuing. lie said that "one of the reasons Mr. Williams hns t-o many enemies is because when he became controller he found many abuses among the poorly paid bank ofliriaN. chiefly in the smaller country hanks, and he started in to stnmp these out in a most vigorous manner. Naturally, he did not make many friends among those whose favorite corns he trampled upon, but that point of view hns never deterred him from going after every abuse until he 'scotched' it." Outlook for Steel Business Considered Good The placing of n 815,000-ton orde'r for steel with the I'nited States Steel Corporation by the Ceuernl Motors Corporation was n factor in the strength of United States Steel common on the stock exchange esterdny, in the opinion of brokers generally. One broker said he had heard Japan was in the market for several thousand tons. There will be more than usual interest in the published statement of unfilled tonnage by the Steel Corporation on Tuesday next, he remarked. lie said lie did not expect this report to show any great gain. There may be a shrinkage, but not so great ns compnred with the previous month. He said he understood from thoe in the steel business thnt the revival in steel buying did not begin until well on in the month of May. There have been nil kinds of reports about the volume of steel which is being produced nt present, he said, and while reports showed what might seem nn alarming number of furnaces being closed down, he understood that many of these would boon start up again. He said lie had heard on good nuthority that the United States Steel Corporation's plants in the Pittsburgh district were operating close to 70 per cent of their capacity. When asked if he hnd heard anything recently about ooutcinplatcd -- ' r mergers or consolidations of several well-known steel concerns, vfhlch had been treely talked about some weeks ago, he said he5 had not. Ills last In formation on the subject, ho said, was to the effect that heavy taxation on the large profits which would result from such consolidations bad noted as an effectual preventive for the time being. French Tax on Motors Does Not Affect Stochs "Notwithstanding thnt the French linvo imposed a (10 per cent tax on American automobiles, according to a statement attributed to a member of Congress, their notion does not seem to have affected the motor stocks unfavorably. In fact, the reverse would seem to be the case." wns the icimirk of n downtown broker yesterdnj. He called nttention to what he claimed was a neglected motor stock the Slut!'.. This concern, he said, is in splendid condition, turning out tiOOO very high-class cars each year. They make u clean profit, he snld, of about $5(10 on each car, and the profits from ?i00 ears would pay their dividends. He snld he expected when this stock began to move up its progress would be rapid. With the determination of the Curb market in New York to "set its house In order" there is a feeling In the finnnclnl district of this city that n similar process should be carried out here. The difficulties in the way of really effective work in this direction are., recognized by reputable brokers, and while they praise the "cleaning com mittee" of the New Yoik Curb for its praiseworthy efforts, they feel they will not be effective until there is a radical change in the rules governing the Curb One of the grent obstacles in the way is the fact thnt any one can trade in the Curb market, whether he is a member of the association or not, and a,ny stock, whether listed by the association (ominittee or not, may he traded in on the Curb. Many brokers belie o Hint the Cuib Market Association inut get to gether and pass more stringent rules than now govern the trading, or efforts toward a genuine uplift will he wasted. YARNS IN FAIR DEMAND stufr situation and, while considerable l domestic hes are being used and buitig Little Stability' In Market and Price I'ri.icipnlly is for immediate needs, . , ' . .. . irriecs continue high. Declines Are Predicted j T,( ,,apor m.itCt shows little im- I'urchnsps of jams are confined to a proveinent. Manufacturers and jobbers ft w nunilieis, according to the weekly repot r n fair amount of lAislness being view of trade for the local distrnt done, but there is no marked incicase by It. (!. Dun & Co . with a fair in volume of sales. 1'ilres are inclined volume of trade reported. During the to lie high. last week the business hns shown wtine- ' ''The trade !n domestic leaf tobacco wlint more activity than the previous hns been a little quiet, but there are week and other numbers are being in- model ate requests for good gindes of quired for. IVntisjlvunin and Connecticut: new Price hive shown no material (linage good-, arc not selling very rapidly on and. while some dealers ipport they be- account of high prices, and it is or lievc prices will go higher, the majoiity peered in the trade that then will soon appear to he under the impression then tie a break .vliirh will materially reduce is little stability in the market mid i prices Sumatra and Havana continue believe there will be a decline in price 'to sell in small amounts for immediate of yarns. uses. The review, continuing, goes on to i "The large cigar manufacture! s re say: port business slightly linprmed, but or- "Among the manufacturers, knitters ,iPrs are not being received up to usual state that they aie booking some or-'standing nnd they have large stocks on ders, but the volume of business is con- I band, which are not moving rapidly sidcrably lower than it should be at Collections arc generally reported a little this time of the year. There is some slow improvement in the carpet trade, but j "Wholesale grocers leport business owing to the high juices of raw ma- fiiiilv satisfactory, with prices in gen terinl manufacturers do not appear to 'rial tirm. (Snod demand in canned BUSINESS NOtES Trade In Aitorlcnn dyrstuffi with, Clilnn can be nxpnnded largely by pro vldlng standardized color shades. Con- I sill Oenernl 0. II. Anderson explains1 thnt nmong the Chinese many of thel colors have n spcelnl significance In eon nectlon with ceremonials as well as' being regarded lucky or unluckj. lluj Ins nf notions by jobbers Is In-1 creasing. It ii stated that supplies of Hnglish hand sewing needles, which had! been light, nre larger. Quantities of I .lupnnese needles have been offe.red but j dealers stnte thnt the product Is of such Inferior quality that importers find it difficult to mnke sales to American I buyers. I On .lune 18. at 10 a. in., the War Department will open sealed bids for .'.110,20'.' jards of textiles, which were1 acquired for wnr purposes. The fabrics are located in the New York nnd Bos- i ton distiicts. Itlds will be opened in the office of the chief, surplus prop erty division. Munitions Building.' Washington, I). C ! Silversmiths aie confronted with the possibility, of a marked shortage of uier chnndlsc net fall because of the un usual ddnnnd for silverware and the scarcity of skilled workmen. Large orders for American -made dresses nre being placed in the market by South American bnjers. One or der, said to amount to $'.'0,000, wns placed by a bujer from Buenos Aires. The order calls for cotton dresses prin- . cipnlly nnd covers a variety of styles, ' all of which are worn in this country Sufficient good leather Is available In this country to last two jenrs, but if prices get to the point where the public here and abroad lefuse to bn the leather situation will hi come serious This statement was made jestirdav In Fred A. Vogle. president of the Tan tiers' Council, in a pica to shoo manu fneturers and others identified with the t-hoe nnd leather industry to show the utmost conservatism in their purchases in order to prevent the industry from being thrown out of balance. WILL HUNT MISSING "ACE" Locklear, Air Acrobat, Joins Search In Connecticut Today Hartford, Conn.. June (i. (By A. 1.,. S..ti.,,l in ninniifneliire n henil nf ' n,l.i ..unrein v for rxnoit. Iutiiies '' .vniioiinceineiif wns macie insi nr.Ie.- mi linnd. 'me in fair demand and. while it is night that Lieutenant Ormcr Locklear Shirtwaist and diess manufacturers felt that the present high prices will ''the "stunt" aviator who recently H state that the season continues netive. ! continue for some time, a feeling of 'jumped in midair from one nirplane to I hey nre somewhat behind in deliveries, ' nieitainty prevails. 'another at Atlantic itv. will take up NEW YORK SHIPBUILDING CORPORATION bis sttmdr work, good wares and ixosllent working conditions. Ther are op.nlnso In nearly all branc&M lor akllled mechanic!. Apply Employment Department at the Yard Camden, N. J. EDUrATIONAl. rtoth Sum HIlUnTIIANTI AND ImnRKKKPINO Our sraduatea are In constant demand for rood paying positions. Orege Shorthand, the easy, speedy system. Complete business and secretarial courses. Half rates summer months. Intensive training. Enroll a. any .time. Call or write for full TB'jm particulars nnd catalogue. : IflljS rilll-A. BUSINESS COLLEGE 7 and Collrge nf Commerce 1017 Chestnut St.. Philadelphia nvvinc to inability to obtain competent "Coffee futures arc it tegular, with help and also n shortage in icitaiu mndciali business transacted. Ten is class of merchandise. in good demnnd, especially in milder ".Manufacturers of men's and boys' grades, with prices firm and collections clothing say they catinot get the inn- 'good. terluls to fill their ordeis promptly. ' "Sugnr is unchanged. In refined They are well sold up. 'business is satisfactory, with all of "Jobbers of woolens and cotton piece refiners oversold; prices on n basis of goods stnte that the demand for some, nine cents." griules of merchandise is gi enter than! the supply nnd prices are high. "There is considerable activity in the .vnllpnprr manufacturing, jobbing and letniling lines, with nn increasing de- ! mnnd for all grades of material. There Is little change in prices and collections remain good. "There is little or no change in the condition of the cement market. Manu facturers report only a fair amount of business being done, but numerous in quiries are being made nnd n good sea son is anticipated. Prices continue a little high. "The chemical market continues fair ly active, there being a fnir demand in all lines. "There is little change in the dye- the search for Captain Ilnnscll It Jnines, the missing Canadian flier, tndn.v , Locklear is heie preparing for an ex hibition flight, and as a result of n let ter received In the Hartford Cnuranl fiom Samuel A Chnppell. of North Windham, LoolJcnr will Ilv over that section of eastern Connecticut to look for Captain James Chnppell wrote that he saw un airplane living over North -h " i" in B liL Make that old roof a new one ! It pays to have good shoes resoled. Itpaysto kcepstreetsrepaired. It pays to keep your property painted and to use the best paint. When it comes to roofing paint, this means UMHIHj Fibre Coating is not an ordi nary roof paint. It is composed of bituminous gums and oils to which is added a liberal amount of special asbestos fibre, pro duced in the Carey mine. This asbestos fibre acts as a binder and is the principal cause of the extreme durability of Fibre Coating compared to other roof paints. One gallon covers fifty square feet and you can apply it your self if you desire. An ordinary brush is all that is needed. Renew the life of your roof now. Phone or call and we will quote prices on any quantity you wish from a one gallon can to a fifty gallon barrel. Carey Building Materials .H-m. t- HK5 Asbestos Built-Up Roofs Flberoclc Asbastos Felts Asfoltslnto Shingles Insulating Papers Asbestos Mntorials Manco Asphalt Wallboard Roofing Paint Roll Roofings Asphalt Built-Up Roof F.ltox Asphalt Felts Damp-Proofing Compound Fibre Coatinsr for Roofs Elastlte Expansion Joint 85 Magnesia Pipe and Boiler Coverings uarey rjexioio -emnt flooring AMERICAN INSULATION CO. CfevA Vo i i i i i i i' r i EXCLUSIVE DISTRIBUTORS OF CAREY PRODUCTS ROBERTS AVENUE ANO 8TOKLEY STREET PHILADELPHIA .CflUAMC fSPT TP.IIHF TPRM5 ' Windham last Thursday. No search m uiirviss; , has as jet been made in ' ' 3C mi i i r that section. British Name Conditions on Which Hostilities Will Cease "iJondon, June (!. The Ilritish mm- mnnder in Afghanistan, replying to the i Amir's request for nn armistice, has I given the following terms; The Afghans to move back twenty miles; the Ilritish to maintain their present lines; Ilritish seaplanes to be' allowed to patrol the Afghan lines, and, the activities of warlike tribes to be I discouraged. FIGHT FOR CURB MARKETS ' BililMllliilJillMlI!: ctb iVFR'1 The Kest Business School DllVrt I --x SOT CHESTNUT ST. tT.--in.Trn1 F.ng. Oram. Course. Knotty BCrmaxoi points soIvkJ. 1827 Sansom. WEST rilKHTKB. PA. Association Head Hints Determina tion to Proceed, Despite City Curb markets will operate in this city despite opposition, it Avns hinted by William L. Walsh, president of the Curb Markets Association, at a meeting of that organization in the Tarkway Building last evening. Tho meeting wns called following a hearing in City Councils, at which it is said Director of Health Wilmer Kruscn demanded the question of tbe legality of curb markets be taken up by the lnw committee. Committees were appointed at the meeting of the association to sec fifty councilmcn in the wards where the mar kets arc to be established and to obtain letters expressing their fayor or dis favor before next Monday. These let ters will be presented to the law com mittee at City Hall at the meeting of that body next Wednesday. "We have complied with all the san itation rules of tho Bureau of Health," said Mr. Walsh. "The retail produce stores are organized against us, and they are backed up with money for pro paganda purposes. If wc do not hold our markets on the Btreets, wc shall operate In stores five mornings each week. Fiftcn markets will be opened. We are satisfied that we can overcome every objection. ' a i FIVE WAR PROBES BEGIN West Chester State Normal School On Psnns, H. n.l trolley to Phils. Fits for teschtnr. collece. buslnrss; S220 to 1280 for tiora.tultlon.'lc.,Pr year. CI M.Phlllps Prln. Yonnr Women wnil fllrls AL-KNTOVVN. PA. Cedar Crest Collego TOR -IBM OVER IS Allentown. Pi.. "Bnbnrhs"' Limited enroll. meat. Two new modern bulldlnrs on ktrtt ad picturesque' campus of S3 acres. AH snedern cultural "nil rocntlonal tvuraea. AtiUsttes. Rate tson Addrisu TlOX . bi-. X... r.mr. f C.irt Pocono Mts. armc aits .iiu w. . hours D. Price. Phlladelphl Vw Tork. Ilss Blanche r. Price.. 404 W, School lane, uermaniown, hours from BCMMEB CAslPS t It, w 5 Young Men and TtoTS CamP Jackson boys. I the heart nf the AHeehenles. COVINOTON. VA. , Cast. B. A. SMITH Capt. It. S. qWENS Camp Directors. House Members Named for Investi gations of All Expenditures Washington, June 0. Fifteen mem bers of the House, ten Republicans and five Democrats, were nppolntcd by Speaker Gillett to conduct five Inves tigations of wartime expenditures of the War Department. Representative Graham, Republican, of Illinois, was selected cnairman ot tne general com raittce. and tbe division of s'ubcnnimlt tees, one for each investigation, will give the Republicans two members to one for tho Democrats. The investigations will cover expenditures for aircraft, ord nance, camps and cantonments, quar termaster supplies and purchases abroad. Tho committee personnel follows : Representatives Graham; Hamilton, Michigan; McKokzIc, Illinois; Johnson, douin aKoia; ueavis, iscnrasxa; .Ma gee, New York: MeCullouch. Ohio Bland, Indiana; Jefferies, Nebraska, ami .viacuregor, nicw iorK. republi cans J and Representatives Flood, Vir ginia: Garrett. Tennessee: Dnremus Michigan ; Donovan, New York, nnd i.eu, vsuiuornia, uemocrais. EDPOATIONAT, CAMPS KnUCATIONAI. OAMPH JUNIOR PLATTSBORC " On take Champlain, N.Y. y w On Jahe Champlain, N. Y. -The Camp Where You Can Fly In Curtlss planes. Expert Curtlss pilots. lachlne conironea oniy or WrsJses, otbir technical studies, AeA?.!i,0ow.9'.n.'.??nt llachln controlled only by experiencea vuoi. .ill uuueucs. ifolor Afccnaslcs, VI sj0VS5TitBsjfl sS' SrKCIAI, ANNOWNCKitENT MAJOR (IKNKnAT, JOHN Y. it YAM, or the famous 27th Dlrlelon. villi conduct the ramp as a demonstration of the Hurls system f Tralnini, cmiihaslilnr supervised athletics. Klsul week commencing July 1. For eslaloc address A. K. SMITH. U E. 43th Street, Neve Tork City. iiiiiiiiiniiiiiiiiiiiiiiimnwy- J mn ? A(k 0 iiimiiiihiiiiiiiiiiitiiiinin INCORPORATED 1803 The Philadelphia National Bank Philadelphia, June 3rd. 1919. RESOURCES U. S. Bonds and Certificates of Indebtedness $43,237,733.60 Loans, Discounts and Investments '. 06,26o,561 . 1 6 Accrued Interest Receivable 3 3,957.64 Customers' Liability Under Letters of Credit and Acceptances 11,869,881.84 Due from Banks 24,410,654.19 Exchanges for Clearing House 5,884,650.42 Cash and Reserve .'... 15,090,334.26 $207,072,773.11 LIABILITIES Capital Stock $3,000,000.00 Surplus and Net Profits 8,026,01 1 .39 Unearned Discount f 668,487.92 Reserved for Taxes and Interest . . '. 581 ,042.68 Letters of Credit and Acceptances 1 2,066,502.62 Acceptances of Other Banks Sold 41 3,936.23 U. S. Bond Account 21,591,350.00 Bills Payable with Federal Reserve Banks Secured by U. S. Bonds 22,100,000.00 . ( Individual $88,680,529.04 Deposits Bank 33,587,316.99 I U. S. Government 16,357,596.24 138,625.442.27 $207,072,773.11 LEVI L. RUE, President , CHARLES P. BLINN, Jr., Vice Prea. WM. S. MADDOX, Vice Pres. HOWARD W. LEWIS, Vice Pres. HORACE FORTESCUE, Vice Pres. O. HOWARD WOLFE, Cashier DIRECTORS: Geferge Wood Pierre S. duPont Alva C. Dinkey Alfred C. Harrison Asa S. Wing Eldridge R. Johnson Levi L. Rue Samuel M. Vauclain J KemYe Mitchell George H. McFadden William H. Donner Henry G. Brengle Randal Morgan Wallace D. Simmons S. P. Hutchinson Samuel Rea Samuel D. Warrincr G. Colesberry Purves $6,250,000 & Company First Mortgage Sinking Fund M Per Cent. Gold Bonds Dated July 1, 1909 Due July 1, 1939 Interest pajable .lamiaiy 1 and July 1 1'rimui.il an 1 lnlcie-t p.i.v.ihle nt Cliie.igo and New York. Kcdcem- nblo at tlte option of the 'nini,in on .inv Iniriest (Kite o-i thtce months' notice .it 103 and Interest. Coupon Tlonds In denomination of fl nun. rcirlhter.tlile as to, v. lnclpil. I-'ullv Jieetstered Bonds In denominations of Sl.uOu and Me.CinO Coupon and llegi.-ttred Uonds Interchangeable. Authorized $25,000,000 Issued $18,750,000 Redeemed and cancelled through sinking fund 1,800,000 Outstanding 16,950,000 Wc call attention to excerpts from summary of a letter from Mr. Edward Morris, President of Morris iC- Company: These Bonds nre secured by a first mortgage on all tlie Company's properties, leaseholds, rights, etc., and constitute its only hi'.ded obligations outstanding in the hands of the public. Under the terms of the mortgage deed of trust the Company covenants, among other things, that : It will not, so long as any of the bonds of this issue are outstanding, make or place or allow to exist, any mortgage lien other than the lien of this mortgage upon any of the land, buildings, machinery, fixtures, rolling stock or car equipment now owned by it, or upon any packing houses hereafter constructed or acquired by the Company, or upon the machinery, fixtures or apparatus of such packing houses. It will at all times maintain net current assets in an amount equal to at least the aggregate amount of bonds then outstanding. It will pay into a sinking fund, annually, on July 1, in cash or bonds of the Company, an amount equal to, and not less than. 1.6rr of the aggregate amount of bonds certified to by the Trustee, including cancelled bonds, and in no year shall the amount be less than S200.000: cash in the sinking fund to be applied to the purchase or redemption of bonds at not over 103 and interest, and bonds so acquired to be cancelled. The Proceeds of this issue will be 110(1, at the rate of 75 ' i of cost, tu replace in current account part of the earnings placed from time to time in lixed assets for the increasing of plant capacity. The Business of the Company has been conducted for more than sixty years. Jt is today the third largest packing business in the world. The Net Current Assets as at November 2nd, 1918, not including the proceeds of this issue, amounted to $33,486,449. The total fixed assets as "at the same date were $43,150,135, making total net assets, after deducting all liabilities, except funded debt, of $76,636,5S4, or ovcr4j '. times the total amount of bonds outstanding, including the present issue. The Average Earnings available for all interest and Federal taxes for the past five years have been approximately $5,569,400 per annum, or over 11 times the annual interest charges on the then outstanding bonds. Earnings available for interest and Federal taxes for the year ended November 2nd, 1918, were $8,304,000, or ocr 10 times such charges, including this issue. PRICE 87 Vs AND INTEREST TO YIELD OVER 5i8 It is expected that definitive bonds will be ready for delivery on or about July 15, 19,19. Tending the preparation of such definitive bonds, interim receipts will be issued against confirmed sales, exchangeable for definitive bonds, if, as and when such bonds are issued and received by us. First Trust & Savings Bank Chicago The National City Company National City Bank Building, New York Tho above htutrinents nnd btatlstk-s nre derived from olllclal sources or tho8 which we reward ns reliable. We do not saarantee but believe them to bo correct. '.- j fcwa Ii M V 1 1r i i r ?il m f.j lA &$ i ajsst 1JL rzr. -' v. -W i4 s or JT: J ,-J " jrZT ?w 5vvi ara nm r .'i'1 a, . z. je v.:l m HJIIHiiiiiiiiiiiimiiiiiiimiimiiiiiiiiiiiiiiiiiiiiimiH j i r i i i Vv, cl a'' )t , v ;' 'ui .' i i" V . tl& LmYJg&.MiSL &r. nsrwuwja !,&V f Tl.i1 W J." MP JfcrRBT
Significant historical Pennsylvania newspapers