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KVENPffit1 PTJBETC IjBDgER-PHIL'ADEIHIA; WEDNESDAY, SEPTEMBER ,16, 1919
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Attractive Bonds
Our September list contains
90 securities, selected from
the world's most desirable
financing. At current prices
high-grade securities return
an attractive income. Many
issues are exempt from all
Federal Income Tax.
6eplmbfr offerinc ln"M s-nt
upon requei for rt:-10
the National Gty
Company
Correspondent Ofirr . 41 r m
SO t ittr
Piilsdslplis 1421 ttntnut St.
Atlantic City Cbilfmtt Block
122S Boardwalk
For Conservative
Investment Purposes
We suggest a 6'.
bond secured by a
first mortgage on the
entire property of one
of the strong Ameri
can corporations with
s tested earning power
and property valued
largely in excess of
the total issue of
bonds outstanding.
This bond has been
purchased by invest
ors throughout the
country who have
wished to avoid tak
ing any risk with their
principal.
Circular on requex'.
Hemphill, Noyes & Co.
Mimlfr Vmc Vo'fc Slock Ejchnnq'i
Franklin Bank Bldg., Phila.
New York Boston Scraruon
We Offer
to Yield 71
the 8 Cumulative
Sinking Fund First Pre
ferred Stock
of a prosperous company en
gaged in the production of
an essential food product.
The total net assets of the com
pany, after giving effect to this
financing, were over 2Yl times
the amount of the entire issue.
pTHto or Circular "P"
Diving complete details
&0RGE H. BURR & CO.
421 Chestnut Street
Philadelphia
1301 renples Ilnnl. Hulldlnn'
1'ITTSIILKRH
Main Otnce: 120 Itronilwnj
sew Yonn
200 Profit
During the past eleven years
clients following the Bab son
Long Swing Method of Specu
lation have made a profit of over
200, or about 20 a year.
These figures represent an aver
age of all recommendation
including disappointments.
BABSM'S
VepcrtS Trill 'enable you to ineraj
ar invmatmd capital at a similar rate
without the risk and worry involved
in ordinary speculation.
A copy of lfcent Bulletins and full de
tails of the Babson Method of Specula
tioa will be sect to investors aratt.
Write on your lMtrhead for
Bulletin A146
Bah son's Statistical Organization
W1la1ey Hill, Maaa.
Largest Organization of Us Character
tn th World
A GRAPHIC CHART
OF LIBERTY BONDS
TELLS AT A GLANCE THE PRIN
CIPAL FEATURES OF THE SEVERAL
LIBERTY LOAN ISSUES. AN IN.
VALUABLE AID IN MAKING OUT
INCOME AND SURTAX REPORTS.
CENT FREE ON REQUEST.
BflKFR, AYLING & YOUNG
'-J& TITLE BUILDING
KOSTOiiW PHILADELPHIA
$50 $100
LIBERTY BONDS
DOCOnT AND SOLD
Biddle & Henry
104 SOUTH FIFTH STREET
Member Philadelphia Stodc Eichanti
Coal Lands Timber Lands
Bought and Sold
S. Arthur Eastburn
1119-1120 Liberty Bldg, Phila.
Hecker & Co.
Bankers and Brokers
Member of Philadelphia and New Tork
Ftoek Exchange
Jf. TB. TOR. 6T1I AND rHKHTXTTT HTfl.
U. S. Liberty Bonds
$50, $100, $1000
KoroiiT. sotn
, KKcosniENnpjJ ran investjicvt
if urLitfer! Henrt(rnn TjipK
nnui6w ..w,...--.. .
0 CHESTNUT
r. Y. rwi.
IMrwfly
!T. I
ffrnf WyStifr V
EYES OF MARKET WORLD
CENTER ON WASHINGTON
Students of Situation Discern Concrete Strengthening of
Underlying Conditions Absorption of Local Stocks
I WhII street, lniviru: shut up simp to ' lowed ly n imiiilc'i-ntiou "f n railroad
join the patriotic celebration in honor j measure. Defeat of the Cummins bill
! of General IVrsliins. the market com, is confidently expected, and that its
jmuni'ty took n holidaj. All the ex- Iplaic will he titken by nnotber measure
I changes In the metropolis suicntled which will probably mnke the railroad
I business. The Philadelphia and Host- situation more fnvorable than it is con
, tot) Stock Kxchnnge did likewise. In . sidcroil at the present time. The pas
1 consequence, there were no quotations j sage of the KiIrp bill by the Senate on
icxcept thove from ('lilt-iiso The banks ai ,i,(), j, recarded as a distinctly con
land trust companies ere open as i structive market influence, in that the
! usual. measure is designed to foster American
I'he s,peuion of Iradinc aflonleil ,
the market lommunity an opportunity
to quietly digest the situation and
measure from various angles the pos
sible influence of the numerous condi
tions commanding uppermost attention
in the minds of the market world
Yesteulny's totally unexpected flaie
back demonstrated beyond dispute that
the current market is full of surprises,
making deductions under recognized
rules and ?egulntion, as well as prece
dents, unreliable and misleading.
Closer students of the situation are
unanimous in the opinion that the pnn
i ipal incintive in shaping the course of
slock values will be derived in the im
mediate Washington developments. The
dominating factor nt the moment, of
course, is tlie steel i onferetice. liven
in this threatened disturbing problem
the tinani ml cominuiiitv is inclined to
take a hopeful view. There is n grow
ing impression that een if a decision
for ii gem nil strike is reached, leaders
will hardly dure to .-all the men out
liefore the big conference which the
President lud called for next month.
In other W'irds. there would seem to
be little possibility of drastic action
tor at least a month
In the opinion, however, of those
keeping clo.se tabs on the deliberations ; in this connection can lie named Kend
al Washington oilier equally important i ing. IYniijlTnniii Itailroad. I.ehigh
.subjects closely related to the security Vnlle and others This does not
I markets nre fast approaching crjslalli
ratiou. There is a strong impression
Unit wartime prohibition will ! ile
cl.ired iui.Tectne within the ncsi tew
weeks. Actum is expected to he inkeii
on the pence treat) before the Presi
dent's tup ends and this will he tol
Philadelphia Markets
GRAIN AND FLOUR
WWYWV - ll. Mpls .TJ.42." buhi '"
urn r Iti't u , fjiii-t hut firm Th" iu"ia
t i pr ( ir In, in exiuirt 1 aior. tnn'rnm' nt
Rtnndard mprtlon, standard prlce-No 1
rod -i?irr $2 aa. No t northern srrlntr.
Ji: .10. Nn 1 hard winter. JJ 30. No 1 "ril
tinier carllfky. 52 37 Nu 1 rM smuttv,
12 .la. No 1 r-d. 7arirU and nmuttv, $2 34
l"nltl Slatn. r-alti I'npnfimtlnn'N nurchlist
I o( wheat arc based on the foUowlns st-hedule
of dlxmunts- No. 2 what. 3c under No 1:
, No. 3 whet! tic under No. 1. N0 4 wheat
lno undr No. 1, No .1 wheat, lie vnar
No l. Tor till wheat othrwi?e conform
injc to th Bt.rinfttt.nj if Nn. tV or better.
but deficient in tpt wcicht. the dlenunt
;. the dicnunt
3o pr bushel
In tost wight.
irom the No 5 prlr will be
ror taen nn pound rtpficirnc
UhfHt cradinar below No. r. for reaaoin ,
oth-r th.m ffflcleno in tet wfishti will " I
bought on its merits Smutty wheat will
be dirountotl nccordins to the degree of
pmiitt, but in no case b than 2f ier bushel
uniler th- curree-pondinB tkuIht tirade (.ar-
ick whojf will h rtiPf-ounted lust -s here'O- ,
foie, 2r pr bushpl from the rKUbr srnde
Mixed wheat will be dincountfd from 2c to
fie. acordinff to quality and condition of
mixture but unless otherwise lnntructed, th
trade maj rount tn our taking No 2 mixed
ieat at PhiladHphla Jut as heretofore, 1.
e., 2c urder th? corretponding regular grade.
C'OKV Re, ffptn. 12U4 buihl? Demand
was hfih and the market whs mh1c and
drain lowr. Wo nuote to arrive ellow in
' ar lots for ura tradf ah to quality and
loratlon at $l.S2ffl 7 pt btiPliel
O.VTlltfctpti 10 212 bjshpls. Tradi
wa nulet. but prir- t u1 ! etad We
quote Car lots hh to lo at ion No 1 whit1
STih2r, No 2 whit M)i"ilr No M whii
79 4? 0i: No white-. 77 '0 7c Hd oatM
or.imand about 2c prenuum o er these
PI,it'H - Up pipt-i 1 )iti;.7.".:( li in hit .V
Tieniard ' i'- llffht but prices i uled steady
l h n not at inns arf as fnllows To arri'-" per
iil lb -n HO lb jut packs Winter
etnmht w. stern new S10 10f(tni0; n-ar-bv
new MiK' li 2."i. Kanpaa utraiht. new.
1 1 1 Ti 1 1 2 o KjinFHs. Rhort patent, new.
11 2 .".fall 'Jo HT.rinR. anort patent, old, 113
W13 nO; do. short patent, new $11.7."i12.
do talent eld $12 riOftl.t. do. do new,
M1.2:G'll 7Ti dc nrt ch'ar. old, $9,250
10. do. do. npw. $0.13(!j'l.3..
UYE KUOUR. wns uui-U a; former ralea
Vt iuot at $7 Ooift" U0 per barrel in txicks
a to qualitj.
PROVISIONS
Trai- .aa quift nnd targe. y of a lobWInE
rhar.iitT anl prtes fvorfd bu"M Fol
low im are ihe uutaliunB. Ttef. in auts.
fimoked and tilr -drift!, 7,z beef Knuckles
find tnd'ir. -mu-ked and n.ir-drid. ."V,
Dork famili. 58.. hnniH. S. I cured loos1.
30 do nklnnfd. loose 'M&STic. do, do
mokd 3Hr hamo. bniled, bonlena. BSc.
runir hnuIderM, S I. cured, loose 'W;
dti Mnokd .rt(SLMiiac. b11lf, In pickle
lot-3 J.lc L-reakfast bacon. 411c, lard 33c
REFINED SUGARS
f?usir p-t ivas ratricifc bv hshi ofienngi
Vncf wptp unchanged oi a banl -if !)i for
fi Tim tjranulated
DAIRY PRODUCTS
i HKESE The mrkt ruled utw nh
demand ab"orbinff the limited n(Terliiui The
quntaiionn N'ew York and Wisconsin,
wh milk flats, current make. fanc 32 l
H S'JSp. specials higher. New York and
U i" onairr. wholf-mllk flats, current make,
fair to guod. .11 4t3Jc, johbtns sales oC
fancy nooda, .TS34c
IirTTKU The mrlt wan muii but fin
uonda were In modern te tiT)pl -ind 3t-dy.
Quotations. Solid-p.ii kfd reame r extras.
ric hl8h-fnrtnff Koodf. V)a V ilc. ex
tra rlratw 57Vac. tire's. r.',iS iti. seconds, o0
(i51!c aweet frearn-ry. i htnett and fancy,
t:o4Ufi.'c di fair tu Rood "li rii ,".'tH c,
fancy branda of prints jobbing at GJ&tJOc,
fair to choice 530 V2c
I5GOS Choice frhh stock was in email
Rupplv and Hold prompth at firm pi Ices.
The (-luoiationa rantred an follows. I'rt-e
cases noarbj $lfl 'J" per trate- current re
relptu that will fTHil J15 nn, fair to sropd,
114 inlV western extra first. $18 20 per
'aae firsts SlSft'l't 'li nearby and western,
second. $13.20SJ)1 1 to inferior lots lower,
fancy selected ejtss jobblnfi a I HI 03c per
dozen
POULTRY
UVK Kme dirab!c-s.z-d "Lock wan well
cean-d up and rlrm. but unattractive quali
ties wr dull atiJ waK Quotations- Fowls,
not l.eghorna, fancy, fnf. weighing 5ff" lb
at-le- and over via express. 37S36c, fowls
not i.edhorns, medium Mas la express,
38 3V. small sizes, 31(rr2c, fowls. White
heshorns via express 3134c. spring -'hick-ens
broilers, i.ut lffhnrns, yellow-sjtmned.
we. thins 1 jr2 lbs apiece. H4(Q)3Lc. sprltiB
chlrk-nH, broilers not Lechorns, vellow--kinr-d.
weichiriff 114 lbi apiece, 3l133c.
Vhit- Ieshorna. eHow-sklnnd eiffhln
lf fn j lbs itpifce, 30c: "White LeKhorns.
r-iU-w skinned, smaller sizes, US (& 214 room
ra Sirq J4( rurka soring. 2hc. do. I't-Uin
od 27 tOo; do Indian Hunner, old. 25f
-'7 p.g"ons old. per pair. 40c. do oi.ns
per pair .ini&4i)i,,
IjKKSHKD Fowls were dull and 1c lower
HrultJne chlcknb steady. Quotations follow .
F-iwH fresh-ltllled. dry-picked in boxe.
- .tfhln 4 Mr lba and over aple. 4tiIj c.
du weighing 4 lbd. Bplec.e 39 'tc 4to welRh-iiik-
3S lbs apiece, 3T&8HC. do neivhlmr 3
lbs 34ft33c. du. mnaller sixes 31 ft 33f .
fresh -killed. In bbl., fancy, dry-pkked,
rt'e.rfhliiff 4Vi lbs and over apiece. 40c. do.
viifhlnr 4 lbs. apl-ce. 39c, do we.l8h.lntj- 3l-j
'be apiece afi37o. do welshlntr 3 lbs.
anltce. &0(n&'lc do. smaller si as .IftWa'Jr-
old monters. dry-picked 27c. broilers .Ier
at.' .-.nf ar. (h. TAr- nlhor nrl.v UUlTil lit..
exceptional sales of small sizes higher, do.
u stern, weighing IS t?2 lba. apiece, 35 if
3flc, chickens, Vestern. welahin 21 2'
lbs. apiece, 30$r32c, spring- docklinga, rear
by ns to qullt. 32$3Be; squabs white,
weighing 111J lbs per dozen R .1fl'Bt9 25.
do. do. weighing Ufa 10 lbs per dozen $7 -i0
0ft 2': do. do. vighlng 8 lbs per dozen,
$lpfl7ft. do. do. -weighing 7 lbs per dozen.
$4.&0R 23. do. do. welching fltifl't lbs per
dozen 2 503 r.ti dark, $1.502 25 small
and No. 2, 00c(H2
FRESH FRUITS
Cholc apples firm. Grapes easier. Other
fruits stead at the following quotations:
Apple, per basket. B0c$1.76; do, per
bnshel hamper, tlAi do. per bbl.. S3.K0
i?8 50. Cantaloupes, New Jersey, per basket,
23fi0e do, western per flat crate, SI. 2.1(9
I 75. Watermelona, Jersey, per 100. Jft4Hr.
Peaches, New Jersey, ner crate, $23. ,V.
do. do. per basket. Slii2fi0. Paers, Ilart
lett pel bufhel. 11.503 2.1, do. Heckel, per
bushel. 34 r.O Grapes. Concord, per
ponr beJ't. J17ff2t: do. Delaware, per
S.basket crate. $1 M&1 71. Lemons, per
box, $2.70(&0 3ri. Oranges per box. S2 20
tfH.2.Y
VEGETABLES
Ttttnmm wrm firm with a sood demand
Ontnna and rahbaca unchanged. Tha auota
ifon toUonr Whlta potato a. Eastern Shorn,
,.,in,i,.rce in Kurnne.
In brief, there is to be found in all
directions prnmisiiiK testlmon of a
concrete strenethenini! of underbill);
I conditions, which in the end. virtually
shape the real course of security values,
i Yc.slerdnj 's spirited rise in Phila -
delphia lllcetric. while unexpected in a
measure, wns not surprising to those
i who linw made close study of market
operntmtis of the stock. It has been
! evident for some little time that the
Moating suppl, was beiiiK gradually and I
'persistently i leaned up and consc-
ilttentl.t the stock was daily srowingi
scan-er itmuml the current quntntion. I
The incident was more significant
! than surfiH-e iiioenients indicate. At
the siiui" tunc it furnished a fresb in
spiration in so far ns other local issues
were concerned. It was likewise an-
I other striking illustration of i.jstcinatic
nbsoiptinti of the leading local stocks
which has transpired recently almost
unobserved, notably in the case of Ualil
I win Locomotive. General Asphalt.
I Cramps and l'.lectric Storage P.nttery.
Several of the most popular specu
lative favorites of the New York Stock
Exchange trading not many years ago
had only a market in this citj . Cited
1 111 i I a similar fate awaits Philadel
phia Klectric but it only goes, to show
the necessity of keeping a sufficient
local spoculatiw spirit alive to retain
the Imal identity of these stocks. If
New Yolk can find it. why should the
home talent overlook it?
U '.O'M :l ji While putatoes. Jere. tier
Mike .V.i 1 Jlt'l 2.1, loer aradee. 50
T.'i. UhltP iiotiitnes. per 1,0-Ib earit,
t:i 7.Ve 4 5n Seet potatues. aouthern, per
1,1,1 Nci I. Jll 7.-iH 23. N'o 2. 2ri0(g.l.
s,.t i"itr ,Ier. v. per h.isket. OOWil 2.1
r.ililMw Vnu Jrsn rir iMskt, 3ri5t7.v
,i.) N, w York doniestu. per ton. $:infrf40
i ii ii-,. ," .Jprse. Per buehel-hainpcr.
i r.ii'ij .. lie u'-r loo-n. sacks, sj dii1
3 71
WEAKNESS IS SHOWN
IN MARKET FOR CORN
, , . . . . .
Sharp Break in Price of Hogs
'
CpnrI- prtrAC I nwprflatc
OellaS mceS UOWer UclIS
A'fQ EaSIST
r1' - -
......
( liirasn. Si'iil. II). Kri-.li weakno-
(IcvpIuiumI mi tin1 corn markrt todiiy.
largely a a result of the fact that hop
prii'ps liail undorKono sharp new breaks.
Hoarish sentiment wan emphasized, ton.
) rains anil moderate temperature.
ellinR. however, wns not aggressive.
Opening prices, which ranged from
1 rent decline to o cent advance, with
September SI. US to Sl.tliMv. and De
cember Sl.L'SU, to $l.'JS-",. were fol
lowed hy a decided general setback.
Oats were easier in sympathy with
corn. After opening 1n rent to 9s eent
off. including December, 7-7 to 7-1
cents, the market rallied a little and
then sagged again.
1'rovisinns promptly reflected the
downturns in the value of hogs and
grain. Most of the trading was in
lard.
BUSINESS NOTES T
Lnrsn quantities of slucnse harp been
(.hipped abroad during fhe lavt ftw
wecU". c.ieiniral dealers stale I'riees
are Sim af $ti.t)0 a pound The 1111 -tihunl
demnnd in Kurope fur food'-turTs,
cniidiek and preservative has ere.ited
nn eieelleni market for cltirose. Th
Mipply n Hie market appears to he
plentiful.
Dealers in djrstuffs state that the
pioipeetivc imports of (ierinan djesriiffs
have already hern diseounted by the
trade. Although there have been some
declines in prices of special colors the
list as a whole is firm, despite the fnel
that ii six months' supply uf (Jerman
vat dyes may be expected sni,u.
A survey of business (onditlons in
Kurope will be made hy a committee of
three representing the Itetail Heseareh
Assoeiation. The itinerary includes
England. Trance and Tlelgium. The
committee expects to remain abroad six
or seven weeks. It is expected that
the merchants will do no buying while
abroad, ns the trip is merely for the
collection of information concerning
present conditions in Kurope.
Iii an effort to lieep tlie Jenelry in
dustry on a prosperous basis wlieu times
become more normal and to prove the
intrinsic worth and lasting value of
jewelry, manufacturers have united and
organized a SliOO.OOO national advertis
ing campaign. The campaign will cover
the entire country for a period of three
j ears. $100,000 to be spent annually in
daily newspapers, weekly publications
and magazines of national circulation.
The pervpntace if Idle machinery In
the woolen and worsted industry re
ported on August 1 and just made pub
lic by the Bureau of Census, Depart
ment of Commerce, is the lowest so far
this yar on nn average. According- to
f trip fimiret)
,,- ft"
the production of narrow
cloths is progressing more rapidly than
that of wide fabrics. The percentage of
idle wide looms on August 1 was 22.1.
against 22 on July 1. Idleness of nar
row looms those under fifty-inch reed
space decreased from 20 per cent on
July 1 lo 24.0 per cent on Augu-it 1.
Soldier's Letter Is Will
Non-Mown, I'a., Sept. 10. One
month before John Ilarrison was killed
in action in France he wrote to the
.Tcnkintown Notional Dank, nsking that
if he were killed his deposit of more
than $1000 be sent to his mother,
Margaret Harrifton, iu England. Thir
letter was probated here ns his will.
BAR SILVER
Commercial bar silver wn quoted In
New YorH today at l. 12? an ounce,
au advance of c. '
5
FINANCIAL BRIEFS
" ; "
According to a telegram received here
striking miners in the Tonopnh district
are expected to take a referendum vote
within the next few days. It is ex
pected that a settlement will be reached
before the first of the coming week.
The 1'nitrd States Rubber Company,
with principal ofllec in New Urunswlck,
N. .1 . and offices in Hoston and Chi
cago, today filed a certificate with the
secretary of state increasing the capital
stock from $120,000,000 to .f.lOO.OOO, -i)O0.
The new cnnltnlizntinn is com
posed of 1 ,000.000 shares preferred and
J.000.000 common, at .$100 par value.
The Hutte and Superior .Mining Com-
pany'.s nnnenl to the t'nltcd States
Court of Appeals at San Francisco has
been dismissed, according to infortnn
tion received bv private wires here yes-
pr(av
Output of steel ingots in the month of
August by thirty companies, represent-
ing 8-1.0.'! per cent of the capacity of
the industry, was U. 7 tjfl.OSI tons, an in -
crease of 2,'17,00." tons over .luly, ae-
cording to reports of the American Iron
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiriiuMiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiini:
has too long dazzled the Manufacturers of Philadel
phia, and some have thought that the only way to
sell was through New York Jobbers.
But, who produces the goods?
To-day the New York Banks are trying to hold out
the "big business" lure to get Philadelphia money to
further develop New York's business.
Before you succumb to enchanting promises, find out
who can produce the goods!
Witness the following-r-
It is possible
niiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiir;
A Sign Post on the
Road of Business
npHE ANNALIST makes clear
the direction in which business
is traveling. Its short, concise,
pithy articles interpret the events
of economic and financial impor
tance. Its charts, graphs and tables
visualize the facts and figures es
sential to an understanding of the
nation's commercial status. A
single issue is worth far more to
executives than the price of a year's
'inscription. Send for sample copy.
i.OO a year by mail
cents at news stands '$
The Annalist
A magazine of Finance, Commerce and Economics
Published by The New York Times Company,
Times Square, New York
The Annalist, Times Square, New York. Send me a sample
Name '
and Steel Institute. The output In Au
gust was the largest to date for the
present year, with the exception of Jan-
uary, when production totaled 3,107, 178
' tongi (
Production of copper for the month
of August was far In excess of that of
July, according to statistics compiled
by the larger producers. The produc
tion of the Xcw Cornelia Copper Com
pany for that period was .1,i.7J,000
pounds. Quotations for metal are un
changed virtually.
Coca-Cola Company reports sales for
August increased between 120 and 12."
per cent, against August, 1018.
The oil stocks continue to find favor
j in '"' elcs which nre often powerful
I enough to determine price movements,
land very bullish talk is heard on all the
stocks of
' companies
producing and refining
Tl"' Woodburn Oil Company an-
J nounceH that No. 5 well has been
drilled In and the casing is now being
.set. The company also announces that
I No. (i well should shortly be in the
j oil -bearing sand, lloth of these nre
in the Ilurkbuvnett extension field in
I Texas. The stock of this company
j was recently distributed by n, syndicate
bended by West & Co.
The Glamour of New York
THE SELLERSVILLE NATIONAL BANK
SELLERSVILLE, PA.
Sept. 2, 1919.
The Corn Exchange National Bank
My Dear Sirs:
As requested, beg to return herewfth reports on a New York
party.
Beg to express hearty appreciation of the prompt and very sat
isfactory report, and wish you would charge us for same, for while
it is of very great benefit to a customer that we are starting in
business, we sometimes feel that perhaps we trespass too much on
your kindness. National Bank's men have been here trying to con
vince us that Philadelphia is too slow; so thought I would send them
the name of the same party enclosed to see if they could "beat" you.
Well, we have not heard from them since. Guess they must be hav
ing a good, sound nap over in Knickerbocker town, and will rub it
in good on their representative, if he calls here again with reflections
en Philadelphia.
Very gratefully yours,
(Signed) W. F. DAY, Cashier.
to get so big as to be clumsy
Corn Exchange National Bank
PHILADELPHIA
Chestnut t Second
h-
, Address
LIVESTOCK QUOTATIONS
Kait nnffsJo, N. V., Sept. JO. CATTI.tJ
Itecelpts, 625 head. Slow, lower. Calves,
receipts, ?B head. Active, 23o hlshrr; $7t
irOOB Receipts, 1150 hesd. Slow. 80O
Tc lower. Heavy. lS.S0ei9i mixed. $10.10
HrlP.ani yoruers, tin.2MilS.lr: pts, Sin:
rouh l.TBIS.i.li ttntt. I101H8. . . .
NIIEtel' AND 1.AMIIS IMrelpU. 00 head,
I.afnbs stronr. Lambs, IflOIBi others un
changed, Plltibilrsh, Sept. 10. 1ICK1S Reef Ipts.
2.-00 head, Lower. Heavies, lS.2.1lS.r.0,
havy yorkrs. JltiitlP.iS: lleht yorkers,
lHWm.2: plus, 117.M1018.
HltRKP AND r.A.MBR llceelpts. 200 head.
Stead. Top sheep. 111.211s top lambs. Sir.
CAI.VRS Receipts, 100 heaed Slow.
Up. I22..10.
Cincinnati, (I., Sept. 10. HOCJS .ttecelnts.
400H head. Steady Selected heavy ship
nera UTvl7.n0: packers and butchers.
tn.7.1lS. piss. Ml) pounds and teia, I12W
1(1.50.
CATTLE Recelpte, 11110 head Slow.
Calves 120 HO.
SltnrjP Hecelpte. 200 head Mlea.ly
I.nmbs. Btrona-. $71S
Liverpool Cotton
Lhtrpool, Sept. 10. Cotton spot
wns in good demand, with prices easy.
Good'ralddllng. JS.SOd: fully middling,
18..10d : mniddllng. 17.70d; low mid
dling, 17.8."d; good ordinary, 14.20di
ordinary, IM.OTu. Sales were 0000
bales, including ooOO bales American.
Hcceipts were 27.000 boles, including
10...00 bales American. Futures closed
barely steady. September, 17.0M ; Oc
tober. 17.00d; January . 18.02d; JIarch,
17,n0d; May, 17,Sld, and July, 17.00d.
Manufacturers
Thousands of men of
great purchasing power
and large individual
means read The Annalist
carefully. The unique
character of this publica
tion makes it a highly ef-'
f e c t i y e advertising me
dium in which to reach ex
ecutives. Advertising Rates on '
Application
copy.
i h, 9.10-10.
D'
kuring this
or readjustment manv in
vestors are finding it profitable
to take advantage of the
marketability, freedom from
fluctuation and high yield
afforded by well-secured short
term notes.
Wc arc offering to disc-iminatlne in
vestors a security of this haracter, which
has the additional features of an attrac
tive Conversion Privilege. These notes
arc "the direct obligation of a prosperous
Company, manufacturinga stap'e product
with a growing demand, and ate obtain
able, to yield
8
-lVW(e fur Circular f. P. A.-.J5.
HollisteiWWle & Co.
INCOKPORJI.TCD
North American Buildm?
PHILADELPHIA
BOSTON FROVIDENCE SPRINGFIELD
READJUSTMENT
OF
Maxwell Motor Company, Inc.
AND
Chalmers Motor Corporation
To Stockholder! of
MAXWELL MOTOR COMPANY, Inc., and of
CHALMERS MOTOR CORPORATION, .
and
To Holders of Firit Mortgage Six Per Cent Five-Year Gold Notc of
CHALMERS MOTOR COMPANY:
The undersigned Committee has prepared a Plan and Agreement
dated August 30, 1919, for the readjustment of Maxwell Motor Com
pany, Inc., and of Chalmers Motor Corporation, which contemplates
their merger into one new corporation to be organized for that pur
pose. The Plan has been submitted to, and approved by, the boards of
directors of Maxwell Motor Company, Inc., and of Chalmers Motor
Corporation.
In order that the Plan may be carried out with the least possible de
lay and the benefits of the readjustment quickly realized, the Committee
urges the prompt deposit of the existing securities, as provided in the
Plan, with the Depositary, Central Union Trust Company of New
York, 80 Broadway, New York City, which will issue its transferable
certificates of deposit therefor. All stock certificates deposited must
be eithur indorsed in bUnk for transfer or accompanied by proper
transfers in blank duly executed, and must bear proper stamps for
transfer as required by the laws of the United States and of the State
of New York. All Notes of the Chalmers Motor Company deposited
must be in negotiable form and must be accompanied by the coupon
due April I, 1920, and all subsequent coupons. The coupon appur-.
tenant to said Notes due October I, 1919, should bo detached prior to
the deposit of said Notes and collected in the usual manner.
Copies of the Plan and Agreement of Readjustment may be ob
tained from the Depositary and from the Secretary of the Committee.
Dated, New York, September
HARRY BRON.NKK,
('halt man.
jami:s c. iirtAiiv.
JOHN K.'MOnnON,
DIJON TAItKS,
ji;i.i;h R. iiaciik.
HIHIII OHAl.MKIth.
i. HOltACi; HARIIIMIi,
Committee
: B. HUCJIIUS. Secretary.
80 Broadway, New York City.
We advise the purchase and
are making a Specialty of
U. S. Government Bonds
and are prepared, at any time,
to buy or sell large or small lots
We have prepared a circular on
mvestmtnt tecurities which we shall
be glad to send you on request
Kid A e , Pe afc o Ay fi- Co.
xi$ Devonshire 8.
Boston.
y r-
UNITED STATES GOVERNMENT
LIBERTY AND VICTORY LOAN BONDS
We buy and sell Liberty Loan and Victory Loan
'Bonds on commission at current market prices.
Denominations $50, $100, 5o00, $1000
Edward B.Smith &Co
Established 1802.
BANKERS
Jmtr4 New York and Philadelphia Slock Exchanges
NEW YORK
ALUSMTOWV
1'Jtn.AIIKIJfIlIA.
J4U CHESTPIIX IT,
necessary period
5, ,1919.
Stockholder of faiwell
Motor Company, Ioe.
Morkitulders uf Chalmers
Motor Corporation.
7"WH Street
JSTe-wYoric
NEW LONDON
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