ft' t, $' f'Cl. . ' 19 s. t EVENIKO J?UBUO LEDGERPHILADELPHIA, TUESDAY, JULY 8, 1910 V" V " . ii fWr I isW- BT V IX r It I- A ) I Vf IHkhI ih Ml iffiffiBHBHl SELF-CLEANING Rocking Grate VALLEY IRON WORKS COMMERCIAL TRUST BLDG. THE BALDWIN Locomotive Works Steam and Gasoline LOCOMOTIVES Philadelphia, Pa. NEW YORK SHIPBUILDING CORPORATION r, stoBdy work, itond wages ' nj meellrnt working conditions " r. oprnlnRi In nearly ull branches for skilled mechanics . Apply Employment Department at the Yard Camden, N. J. COAL $3.50 per TON for Mfnm nun.oi.rR In ." l'lnnt. 80 to 1000 h. p. l'frffet rr.ulto euarantred In connection wltli boiler equipment or NICE-BARTLETT CO. r.ionr-Sprne. 894 3 N. 21.t SL 1 PSZ fij XCCSr Bl'ower Equipment., Hettinc, VemiiUtion aod Exhtnit Systems, Sleet-Metal Work, Safety Gturdi. C. H. RAUB Wayne Are. & Berkley $t , Philadelphia, Pa. Build of Concrete VuKANITEpORTlANDfiMEHT Phiude!.phu Jew&rr Joston HIGH QUALITY QUCK SERVICE Motor Truck Delivery Lansdale Foundry Co. LntVtdale, Phone Lansdale 430 O. W. KETCHAM Mnnufnrturrr of Architectural Terra Cotta, Bricks Hollow Tile, Etc. Chas..J. Webb & Co. . Wool and Cotton Yarns I1C Chestnut St., Philadelphia, Pa. NAGLE STEEL COMPANY fl STEEL PLATES AND SHEETS Pottstown, Pa. Phila, Office, 1411 Morris Bldg. N. Z. GRAVES Incorporated 22 and 24 South Third Street l-lillndclplla The Holme of Scirrlnlttrs In I'olnts and Anrnlilies IMPACO ' CEMENT AND BRICK COATING 'FOR STUCCO-CEMENT OR BRICK " ALSO CEMENT FLOORS Will Resist Water, Oils and Great IMPERIAL PAINT CO. 1518 Sansom Street. Philadelphia,. A'" ' - GOSSIP OF THE STREET REPORT ON STEEL TONNAGE IS A WAITED WITH INTEREST Largo Contracts by Automobile Manufactur ers to Be Included ' in Thursday's Statement Qossip of the Street THH performance of lTnltrl States Steel common on the .Stock nxclinnuc yesterday called attention ter tlie tense Interest with winch the publi cation of the unfilled-tonnage report N being looked forward to n Tlmrsilnv. Customers nnd brokers alike etjiect It to be a bull card. One broker said that the report is certain to fiiow to what extent the irk'ustry has rceocrcd from the monthl falling off during the early months o? .'bis year. Tli at it will make a decldcdlj better allowing than the figures for lnt. month, he said, is patent, hs the figures for Slay iueluded the last of the cancellations of government contracts. The two big automobile contracts will be JniTi'iitletl, lie Bald, nnd as ctery one interested knows, how mutt fons thej rcpi)fccnt the, remainder, nfter their deduction, will show to what extent prii'Ote enterprise is in the market for steel. While the unfilled tonnnge, he remarked, published each month does not impart any information per se, so long ns the shipments or deliveries nre unpublished, they enable through comparison nn opportunity to make a broad guess. Floating the New Canadian Loan The floating of the new Canadian loan of .$75,000,000. it is snld bv financiers hete, will in all probability be the final large piece of financing to be undertaken by bankers in the T'nited States till next fall. This loan will bo brought out this week, according to the loal representuthe of one of the big concerns of the underwriting syndicate The proiccds of the sale of tlKsc securities, he said, will be used to refund n similar amount of Canadian two-year notes held in this count. The full particulars of the offering nre not jet at hand, but these xecuiitles of the Cnnadiau government will be sold to net ft 00 they m "tVj per rent bonds. There seems to be nn nrrangement made to submit two optional Issues to the public, the amount of ench of these two issues to be detcrjnincd by the popular demand. Thnt is, there are to be ten vinr 15 per cent bonds issued to be sold at 07 and two-enr 5M; per tent bonds to be sold at 1)0. According to present information the amount of each kind to be issued is not now stated, but will be announced as soon as the lesults of the sale show which issue is likely to bo tho more popular. It is also said investors will have the option of purchasing each kind in whatever pioportlon they desire. In refunding the outstanding S100, 000,000 notes due August 1 par will be paid or allowed in cate of trade for the new issues. Temporary receipts will be issued till flie new bonds are readv , about .lul 21. i There is an eagerness by the houses that will handle these Canadian government securi ties to dispose of them as quicklj ns possible befoie the usual midsummer dullness setj in, although manj of the progressive houses say there seems to be no let-up ns yet. The remaining S25.000.000 of the Issue will be marketed in Canada, to obviate as far as possible the high exchange rate between the two countries. Reconstruction Program of French Government "I see," said a banker, "that the French Chamber of Deputies pro poses that the French ftovcrnment should emlmik on a reconstruction pro grnm involving an outlay of about SS,000,000,000 for the building of rnil ' wavs, highways, eannls anil the development of ports, harbors and other pub lic woiks. It is iucUtahlc tlmt a great manv orders for material will come to this country . nnd it is imperative that some definite plan be, decided upon very soon in the United States for the financing of these orders. When Sir. Van deflip said a few clnjs ago that tlr.'s Is the first time in the world's historj that one nation should be the nservolr ,of the world's credit and at the saimc time the storehouse of the world's law in.ir.tcrin.ls he said something which has set thinking men to thinking some more. It is true, he said, we arc facing nn economic condition which is not only entlrelv new but is world-wide in ii.s rrnch For thnt reason new plans must be thought out to meet these conditions. He said it seemed to him that for the present such n thing as profits mifi't be relegated to the background at least they must occupy a very small place and safety rather than philanthropy should govern at least the carl) bteps to be taken to solve the problem. Not All Stocks Have Advanced in Prica A well-known broker remarked that a mistaXen idea had got abroad that all stocks on the Stock I'xchange had recently advanced in price. This is not quite true, lie snld. Anv one who will study .'he sltuntion will find that the recent rise did not affect more than fifty stocks altogether nnd, further, these have not yet gone hejond their book values. The present bull campaign, he said, had far from exhausted Itn Visibilities. There are many well-k;iown Industrials selling nt far below vnlnc, nnd ns for railroads, their present quotations are ridiculous when actual values arc taken into con sideration. Wonderful Activity in Manufacturing Industry "There is n peculiar condition today," remarked a hanker, "In the manufacturing Industries of this country. Kverv one sees nn era of won derful aetlvit), nnd one reason Is the shortage of stocks ji hand In almost ever) line. For the last four vcars," lie continued, "we have been manu facturing for our home uses nnd exporting ever thing available till our shelves are bare. Before the war not quite 1(1 per lent of our mnnufuturing energv was given over to foreign business. Now we hnve verv little ready to export and nrty orders which mil) come to us will have to bo manufactured from, the bottom up. It would take at least n couple of jears to replace what we have sold in manufactured materials from our reserve stocks. "With such n condition," he said, 'tthe market for Imliif-trlnl stocks on the exchange must continue to be exceptlonnllv good. It is true that It mnv take some time for profits earned to show themselves in the form of dividend," he remarked, "but tliev must ionic. "Outside the netilnl mnnufai turlng industries," he said, "n boom In building has begun." He snUl he had been told b)' ome contractors that thev hntl perhaps waited too long for prices to come down, nnd now they looked forward not mil to pnvlng higher prices still for materials but were In danger of fining n shortage. TRADING IS ERRATIC IN THE-CORN MARKET GOOD-ADVANCE MADE IN PRICE OF COTTON MONEY-LENDING RATED NKW YORK Money on call, mixed collateral, opened today at 1) per rent for lending and renewing. On all Indus trial collateral the opening rate was 10 per lent. Time money was firm today with 0 per tent bid for all industrial loans nnd a trading rate of It pt r cent for nil maturities Renewals were made on lulled collateral at 0 per cent It was stntcel In money market ilnles that verj little time money lame out iluilng the early Hcsinnn. Aiceptnnce bills were unihnuged nt l(?il5 1(1 per cent, with verj little doing in this ilepnitliient . PHILADELPHIA Cull, fii, per tent, time, ri)(?i(l pi i nut iiunmii ml paper, three to six months, 5 'iff? 51 pi r cent, nnd slv months, (i per icnt 10.55; guilder checks .17 lB-lO", cables 38 , Stockholm checks 25, cables 25.20; Christians checks 24.30, cable 24.50; Copenhagen checks 23, cables 23.20; Belgian i hecks 0.04, cables 0.02. Sterling todn lilt the lowest mark on record In the nfternoon trading, de mand selling nt 4 l"0i, which is lower than the previous low nt 4 4S, on September 1 1015. The unsettled market at that time mnilo It Imperative for the British government to nrrnngc Its stnhilMug program bj which sterling e ahles were maintained at 4 7(1 7-1(1 un til February of this venr, when the government support wns withdrawn Othei quotations were Stirling ca bles I 4!,. frnnis ilieiks (102, enblis (1IM) Lire i links s 3(1, cables 8 34. Pesetas checks 10 4(1, tables 10 53. SsVtember Hits Now High Rec-1 Trade and Liverpool Buying ord, Whilo December Is Inclined to Lag J. J. FITZGERALD & CO MANUFACTURERS. r Sewer nips Flue Linings V'nll Coplnir ravine and Fire Brick ALL CLAY PRODUCTS - Main Officei and Warehouses SECOND & BUTLER SIS., PHILA., PA. Contractor & Builder, ALBERT ZELLFELDER 151 South Broad St. TKLKI'IIONES IfovHtonf Rare 2S5 Uell llnlnut 801 BUSINESS' NOTES f Machine Shop Textile Mn chine Works. Heading. la. Structural Steel For All Building Purposes Bethlehem Construction Co. Engineer Fabricator Erector BETHLEHEM, PA. lp.SM CfjJ PHILADELPHIA SHAM IWING COMPANY ENGINEERS- &CONTRACTORS - FORTHECftMPLETEGWEJvAvLHECHAroCAL'EQUIPMEriTOF BUILOINOJ. JUNIPERW cherry streets Heating Plumbing'1 Ventilating General Piping Work Steanf Power Plants Sheet Metal WorrC .fleDairs fllwoya at your SeVvico Day or Night -ESTABLISHED 1879. -MERCHANTS: . If you ara a grocer, druggist, hardware dealer, tobacconist, clothier, furnisher, jeweler any hind of a Mtorekeeper you shouldn't wait another day before subscribing to the Retail Public Ledger the new twice-a-month periodical for, merchant only. Subscriber say tht.y havo been waiting for it for year. Not a trade-paper, but an inspir ing news-magazine that interestingly tells all sort of thing that merchant want to know. Busines prpblem's salesmanship, buy ing, accounting, the handling and training of help, credits, delivering, advertising, collections - the Retail Public Ledger telis how they are all being solved iriuccesful stores. Entertaining fiction dealing with the isntiment and drama of ttorekeeping, anecdote, verse, pho tograph, new of big movements for merchant' benefit , three pleasant hour of entertaining, helpful reading in every issue. Sub. (cription price, 10 cent a cony, ONE DOLLAR a year (24 issues) Just slip a dollar Into an envelope, with vour letterhead or nam and l-S . f ...!.... J & -..lit 1 & .t - . ..... nuuieftMiiuj miiun, ,uu n nui no icni on wio lirsi ana Ultra luesday Of eyry month for a year,' Address Retail , Public I Steps have been taken by the Na fional .Towelers' Hoard of Trilo to make possible the more general shipment of jevvelrj to foreign countries b- parcel post. ' Refusal by the government to fsne passports to visit Germany until te peace treaty Is ratified by the Oermana nnd the United States Senate, it is said, has led members of the raw fur trade to obtain passports to nnglnnd, France, Helgmm or Switzerland, from which points thej will mnke a hurried entrance into Germany as soon ns conditions permit. Commission houses handling the out put of textile mills have recentlj placed good-rfzed orders with djestuff Importers for fast or vnt colors needed in the printing of shirtings gingham and certain classes of silks. About the only supplies of these colors avail able in this country arc those imported from Switzerland. Strenuous efforts are being made by the woolen mills, saj their selling agents, to bring out their Hces for next spring as earlj ns possible. Watch manufacturers are far behind in filling orders on their books, but with labor conditions nt the factories showing a gradual improvement it is expected that dellverj Mhedules will before long approach normul. Retailers of leather suitcases, trav eling bags and trunks, are now In one of their busiest seasons. Department stores and large retail leather goods concerns report that business surpasses that of an) other summer season. Prices for nearly nil grades of leather goods hnve been sharpl) advanced, but retail ers nssert that most of their sales ore of tho higher-priced articles. Hundreds of bujers are arriving In eastern markets from all sictions of the country. Most of them nre here to order the women's wearing apparel Vhat will be sold by retail stons during the fall months. They jite the inuguiirtl of a large army of bujers expected to invade the market in the next two or three weeks and fnlrlv bombard the apparel manufacturers with orders. A Ruenos Aires cable reports the sur plus stocks of produce in Argentine, available for export!, as follows: 100,- 000,000 bushels of "wheat, 140,000,000 bushels of corn, 17,000,000 bushels of oats, 4,000,000 bushels of linseed nnd 230,000 bdles of wool. The value of these stocks in Argentine totals $400. 000,000 in American currency. LOCAL MINING STOCK8 TONOPAH STOCKS ma Jim Ilutler .,.,, MnrNamara .... Midway .... I', Mlipnh Extension Montana North Star ..... Itcwue Kula ... West End , , , , , 1J Mi .DO 07 IS .118 .IS OOLDFIKLD STOCKS CIS OJ ,(IS ui 01 n , tr-' ,. nn ,, ., ,0S MISCELLANEOUS Arlsonat rK-ilteit t ,SJ ,09 Atlanta , in. t..ii MU fJUII . , ,,.,,,,,,., loom r 'amondneld u II Du.'sy .v,....,,.. Krvt.snaa ., , S.Tver "rick ..:::: tjpearhe.su Arlsonal rymeo j Nevada Wlx"Ier . Teoopa lllnn.s Art .84 .01 .41 .2d in in 2H .01 .us ,10 02 ,01 .04 .01 ' .OS ,10 .33 .B1 .IS Offset Moro Favorable Weather in Belt FOREIGN EXCHANGE New "lorlc. Julv The imuket for foreign esrhnnge this mniniiig clisphiveil nn easier tone, while guikleis remained i IKimli (notations were Demand stilling I 4S, tables I -1ST, , frnnc clinks (i S,1, cables ft S.I , lire checks i , '!-' enblis S ,",0 ; Swiss checks ."."14., cnbli pesctu clinks 111 H5, cables 8S8SSSREMIRS Wo are equipped to do the ork at your plant and save ou the expense of long tie-up. I'lione IV nl. 1814 unit Vlnln 3444 I (I li andierMahlnisIt Eni I JS- 6IO CHESTNUT STREET V "iMHMBnaaaneyHHMaHBMHiM -, Hog Price Still Soartntj """ Chicago, July 8. The" hpg market. O opened 10 to 20 cents higher. Ear4,V,iw cop price wns $.uu. a new nign ree-m, ord. - r ,,J BANK CLEAP.INGSr Bank clearlnes toda ompretl alth cer responding day last two yearai 1010 HUN tmT rhtta . iniiiitiann ir,T huh iu ik nm .hi Iloaton 114 HUH 1H7 CIO 401 Mil 44 414 Ktf N Yorlt 021) IS7 815 048 000 fi!M 010 023 238 WE CAN'T SELL ALLJ, JlllKJ JAIINT That's Why We Sell the Besl "Superior," $4.30 per ijallon "C. A. G.," $3.G0 per gallon .Made With Mneeil Oil rtrndr for Use. "C. A. C." Opalltc White Enamel " 00 per cnllon run. ilnnrt 1.S3. I Wc Make nnd Sell the Celebrated" I KocK-uister Varnish VIoiIr for Iimlile nml Oulnlclo I'aes. C. A. GILLINGHAM 12th and Morris Sts. 21st nnd Wharton Sts. 230 S. GOth St. i Chicago, ,liilv S riuctations in the corn market tnclni were eriatic. Julv nnd Septi mbe. showed buorancv, the lnttei position innrliing n new high icconl, while DeccViber wns inclined to lag, owing to n .Vvor'ible ciop nml weather news. The iVlipIv and ilrninnil sltuntion wns os stioisV ns IUI ltujers of corn fill th" Corn I'lotlucts Iteliuiug Cnnipnnv vvlthi'. ew from the market bemuse of n stit'!e. but tljN failed to hnve much effect. v llenrs were aggressive selleis and resting oulers to tnko pinfits weie enciuintiiisl cM bulges, but ever) thing Unit was put cVit was absorbed. Local mteiests bulled the tiuuktt in the lntter half of the session and xan prices up until stop-loss milns to biv were cniountered. This enuseel n bi,i I bulge. 1ight stocks nml predictions of! sinnller receipts checked selling. The government report on grain will be issued at the close of business to morrow . Ont irnnernlK k pro firm, with ffnoil buving on nil reactions. Mnuv trndiit- hiptPmiH took profits Sliprts were more in- . iX.Vbt r dined to cover mm tlieie wns a inir Januirj sprinkling of outside buving. Com mission houses had selling orders on improved weather c oinlltlons. Good showers were leported in the North west and temperatures were lower. V.. ,..-l. T..l- Tin. fnttmi innr I ket opened firm todnv nt n net advance of 1," to .11 points, rcllecting trnde ami Ilverpol buving on the firm cables I which acted ns nil offset to the more fa vol able weather in the belt j Inter, spot house buving added to the st length of the market and prii es advanced still further, meeting con sidenble icnliring on the lise. Scattered selling, on the unproved neither and expectations of n i.ivoi able vveeklv report fiom the Weather Hut cm tomorrow, was will absnilml on nn corlv setback of 10 to 1." points ()etolier( iidvnnceil to .!.", S hefnie the end of the first hour, with active months geuernllv spiling 4.1 to fiS nouits nit higher Hie scattered selling continued, how t,ver. nml there wns a felling that tin nu rket might be more icspoiisivc to 1,1 ei nop advices nftei the close nbri'a'l. ' Icslerriay a Indlns futuren ranged as follown Corn Incw dellverj) Teit tln-ll HlBh t.nw Closp ClOHO Sept ISO 1 H2 1 SSH lMtMllllS Dec 1 HIS 1 W 1 00H 1 HIS 1 SS Data . . Sent 71U 72U 71 ..' 70' Die 73 I.nrd f.ept 15 10 Oct 34 00 Rlba -Jule hept i'orK July . . bept 10 71 M 40 Hld tAnkiMl 11 10 31 00 2S 77 LK 80 72 11 00 14 00 2R.CI0 s 05 73f, 31 10 31 15 '71'k 11 28 71 t2S 17 .8 75 t.S 70 il on .11 3D ,n no 51 30 Financial Briefs National bank note circulation de creased for the week of July 4 SG02.332 , Federal Reserve bank note circulation iucrensed 50,000. The New York Subtreasury gained $7,117,000 from the banks yesterelny, making a cash net gain since Tnday of $0,450,000. Mnnev in circulation Julv 1 was S.I.- rV.vl ,020,528 against $5184,7l)7,l)()'l for Juv, 1018. Per capita circulation on July 1 was ?54 2S. The Membership of James Stewart on the New .York Coffee Exchange has been sold to J. Aron for SS000, an increase of $500 over the previous sale. The Steel aVd Tube Compuny of America is prepiring to take over the Northwestern Iron Companj , the New -port Mining ComprtCi) nnd other prop erties. The enlarged companj will be called the Steel and T,ibe Compnnv of America, Inc., and will hale a capitali zation of approximately f 100,000,000. BAR SILVER Commercial bai silver was quoted In New York todav at $1.07 an oia-ce, n decline of r. In Loudon the price was 53 ll-10d, off l-10d. Minn Jlav Hid close SI III II 17 1 1 HO H 411 1J ss . SJ 71 .'3 J III! h 111 n ii ,IJ ss it on tl 70 II ij ST 11 31 1S 111 11 I.I I 11.1 Midwest Refining ,S". The Midwest Hi tin ile!nrid the ciunitcrlv dividend of SI per v hnre nnd un extra dividend of 50 cents vpr "chare, p liable August 1, to stock of ice ore! Julv 15. Extra by Itostou, .Inly mg compnnv RTKAMSHIP MIVCES K OsSbTw iVrjRL d!! $m .12 9 BaaaaVaeaVKaflBeVaeVHaSBaBalBBIaaBBalSKCBB I -7THE WHITE 1 I J ENAMEL f m. I FOR W00D-METAL0RPLASTER 4T4II Stores or Thorn sonWood Rnishln Co. BTKAMSHIP OTirr,S w&mfflsrmm n T Mr T m.rrJ.F l'uaaeniter nnd Freleht Smlro NEW YORK to LIVERPOO?. Caronia July Cai mania July Orduna August caruniu AUJJUSt 9 Cnrmanla August 16 Royal George Aujrust 30 NEW YORK to SOUTHAMPTON Mauretania July iitl iquiinniu July 2S Aquitania Auist 23 NEW YORK to PLYMOUTH, HAVRE AND LONDON Saxonia July n NEW YORK to PLYMOUTH. HAVRE and SOUTHAMPTON Royal George July 26 NEW YORK to GLASGOW Columbia Aug. 23 PHILADELPHIA to LONDON Vcnnoniri juiy 15 Philadelphia-Bristol (A,uZ.l(u,h). Direct Service Pier 16 South men ivatvut st . iiiivnv-i piiia Java-pacific im Direct HP SeRvice SAN FRANCISCO TO NETHERLANDS EAST INDIES Datavla. Samarnnc. Soerabalit. 1Incaaar. balltns elates and rates on appllcatloa B S -BILIJTON S S SOi:RAIARTA K S BIN'TANO S S T.nSALAK S S .NIA3 1. D. SpreclcU ft Ilriw. Co.. lifii Acts. Passencer Offlca C01 MsrKct Street Givnenl OfTlce. 2 Pine 6t. Snn IVinclaeo "Queen of Sea Routes" .TO BOSTON SAVANNAH JACKSONVILLE 8tenrrera aa.'l riilbstlalplilu for llo.ton, IVedn'Bdny. Saturday 1 K. vi tor bavannah nnd Jacksonville, Krldiy. n T M A itiml deflrahle way to travel In comfort and ehlp with dlnpatch Merchants and FlIners Trans. Co. pikii ia s de;.awahi; am: Talcrjiona Zxinvbard IdlA a&Bbm& SOUTH AMERICA L F. C. LINE REGULAR SERVICE Philadelphia to Brazil and the Argentine A-l STEEL STEAMERS SAILINGS: TO BUENOS AIRES AND RIVER PLATE PORTS S. S. NEDMAC '. July 25 S,S.SHANNOCK August ,30 TO BRAZIL PORTS S. S. WOODNANSIE August 30 Loading Berth, Pier 48 South Direct Track Connection International Freighting Corporation Lafayette 'Building. Philadelphia. Pa. Telephoner-Lombard 4134 v 170 Broadway, New York City . m Telephone Cortmnat 7720 A Bond for Every Buyer Safety of principal is a universal requirement of conservative invest ors though their preferences in other respects differ widely. Your preference may be for short term issues while ancther buyer, wishing to be relieved of frequent reinvestment, may prefer long term issues. To you, re?dy salability and tax exemption mry be items of im portance th jugh to another invest or, these qualities may be of little consequence and less active o 1 tax able bonds, 'because of their more liberal yields, are a better choice. Whether your preference is for short or long term issues, taxable or tax free, those of 'extreme sala bility or qf more restricted market, whether for Government, Muni cipal, Industrial, Railroad or Pub lic Seivice Corporation bonds; for issues available in $100, $500 or $1,000 denomination; those whose inter-st is payable in certain months, or which conform to the. trust fund or savings b?nk require ments of a partKul"' state among our offerings, any of which will meett'ie requirem ts of the most discriminating as ti srfety, you will find iisues wnici will exactly conform to your neeas. Our current list will be sent upon request for Circular PA-13. If you will advise us of the nature of your investment preferences, we shall be pleased to indicate which of the issues described in this cir cular are best adapted to your individual needs. Representative of our bonds, ue offer Laclede Gas Light Co. (St Louis Missouri) First Mortgage Collateral and Refunding 7 Bonds, due J29 Denominations $1000, $500 $100 Price, at market, to yield about 6. 9Sfc HALSEY, STUART &, CO. INCOapORATCD SUCCC3SORS TO N W HALSEY &. CO , CHICAGO LAND TITLE BLDG., PHILADELPHIA TCLCPHONC: LOCUST 4820 CHICAGO NEW YORK DETROIT BOSTON ST. LOUIS MILWAUKEE "f t-ui TAX EXEMPT IN ILLINOIS i j i i , $1,400,000 Interstate Iron & Steel Company (An Illinois Corporation) Cumulative Sinking Fund Preferred Stock EXEMPT FROM NORMAL FEDERAL INCOME TAX Par Value $100 per share. Preferred as to assets and dividends. Redeemable on sixty days' notice at 115 and accrued dividend on any dividend paying date. Dividends payable March 1st, June 1st, September 1st and December 1st Continental & Commercial Trust & Savings Bank, Chicago REGISTRAR The Merchants Loan & Trust Company, Chicago TRANSFER AGENT' Fiom a letter of Mr. Silas J. Llewellyn, President of the Company, u,c summaiizc as follows: The Interstate Iron & Steel Company has been in successful operation since 1905. The plants of the Company now consist of an open hearth steel plant, also a wire plant, located in Chicago; a plant for the production of merchant bar iron and steel at East Chicago, and a hard steel rolling mill at Marion, Ohio. The proceeds of the sale of this additional block of $1,400,000 of Preferred Stock will be used to build an additional open hearth furnace and continuous roll ing mill, to install additional trackage, and to provide improved facilities for han dling rav materials at the South Chicago plant, which will result in largely in creasing our manufacturing capacity an d rendering possible more economical operation. The statement of the Interstate Iron & Steel Company for the year ending December 31, 1918, audited by Messrs. Price, Waterhouse & Co., Certified Public Accountants, shows net earnings applicable to preferred stock were $600,929.28. The annual dividend on the $2,260,200 preferred stock (including this issue) amounts to $158,214.00. 1918 Net Earnings Applicable to Preferred Stock Dividends Equal to 3.8 Times Annual Dividend Requirements Total Net Assets $7,995,737, or $353 for each share of Preferred. Net Quick Assets, $2,572,287, or $113 for each share of Preferred. Net Earnings, 1918, applicable, equaled 3.8 times annual Preferred dividend. For SEVEN YEARS, the net earnings applicable to Preferred Stock dividends have averaged J. times me annual dividend on me $,ou,uu rrererrea. Annual Sinking Fund of 5 of maximum Preferred outstanding. In the past two years, the Company has purchased $139,800 Preferred, which is con siderably in excess of the Sinking Fund requirements. In the opinion of counsel, this stock is exempt from Personal Property Taxes in Illinois and the income received therefrom is exempt from the payment of the Normal Federal Income Tax. All legal details pertaining to this issue are subject to approval of Messrs, NeTsinaTi, Poppenhusen, Stern & Johnston, Attorneys-at-law, Chicago. Books and accounts of the Company have been audited by Messrs. Price, Waterhouse & Co., Certified Public Accountants, Chicago. Ofercd for delivery, when, as and if isiued and received by us and subject to final approving legal opinion by our attorneys. ' " J s Price 99 and Accrued Dividend Counsextoan & Co. 112 W. AdamS St. x First Nat'l Bk. Bldg. Chicago Milwaukee $ L n v v via s. i ft. 1 A. G. Becker & Co. 137 S. La Salle St. Chicago New York St Louis San FrancUeo wi -fi . s lfi The statements contained lie'i' arA "? pvarantctd, out are board vpon Information and advice wAtaV1' .$" ewe believe to be taccurafe anfl relteoI, and upon which we have acted in purehating thea eteujitie! i 'la 9 l'l il l Vi'l !1 n ,r m j A "i a. I 1 Hi l ? sa 1 i.7l M .eci fi i wa l At f SI ?1 U- ry montK for a year Addre'RetaiI , Public Ledger, I I OTHkri FINANCIAL NEWS H ,uW 2fl '' HlU Wtr'W'rW'tT"' f. ..iM'l.i." .IIIIIHIII. I lli rtrnHmmtmrntm ''V t :?. W ir 'V " V .. "l - UrtViv, !Kr ; v 'W r rt.m V '' WH4 K,.i " ' t C r .i.r. ' t( V . "- 'L )K "-i f. L...M f 'I
Significant historical Pennsylvania newspapers