a,Air - ,., yf. it 18 teYENINOr PUBLIC LEDGER PHILADELPHIA, TUESDAY, . SEPTEMBER 16, 1919 (IS -v - lit JI GOSSIP OF THE STREET FINANCIAL BRIEFS LABOR ISSUE LOOMS LARGE Ul TH& FINANCIAL HORIZUJSV:; "" Ki,i" "" rri""J tlio Koiitliwrstpm Power nnil I.lftht ('iiiiiiiii for tlio tvvi'lvo iiiiinllis i-mlnil .tulj .'II ninniitilnl to $t"7,t!.'l1 nciiiril HiK tn the icpiiit (if tlio ciimnnii.1 issiird Thr Vv ork Siibtronstirv cnlurd instrriln.N. This rntnimnjs with SI'.MI. Smi7.nMI fi,.i tlio ImtiLs jestprilny. '"J111 f,,r .,,,P l'"'',"lj'R lylio tmmtlis. '" 1 11 with ?1 I7.12:i. nn inrionve of S1H, I 700. BUSINESS NOTES Local Banker Discusses Subject in Letter Addressed to Clients and the Public Gossip of the Street fTIO SHOW how lnrgr the labor qiioatlon loom in tlio flnnnrinl hoilzon ft is only rjpcpssnrj- to rond tlio lottori nnd pnpori ndilio-od nt ipjjulnr Intertills by lending bnnltws of tlio oountry, to Ihoir ollcnti nnd tlio niililio. Tho most recent and not the lenit important of tln'sp is tlio muni mlil monthly letter issued todny by William A. Law, ptriddoiit of the first National Hank of Philadelphia. Mr. Law starts out by saylns : "It is to bo hoped that the oominj; labor roiiforoiioo will deolop n sjstem of Bafoty Insurance for the industrial well brine of (ho Ainorifiiii people in this hour of national peril. There must be iiiimuiiit. from striUi's If pro duction is to be increased and the old-time eflioienc) lostim-il If iirgnnlznl labor is to press its demand for inrrpiispil wiiei-s nnd n forty-hour week, with H strike threat as a weapon to force favorable legislation, the most serious complications will result. The cITnrt to put the wuco sjsteni upon "an entirely n footliif;" must conduce Iheieforo to the wclfnio of employers as well as employed in order to merit the uppoit of the American people. "The hour of class legislation has pa-sod. Responsibilities of loeimstruc tion nt home ns well as abroad pioss hcawlj. The i: onelope must no longer dominate. Soi ice has d loriorntod during tlio past two onis nlinost in exact proportion as wnpes lime ndtnnced. This is ilrrnnniliziiiK to Inlmi and ruinous to business Successful teamwork moans a II ft v tiftj division between value Riven ami value impIvciI. Anj oilier bnsis is dishonest, espcciallv in porno tunes when wai piohls arc nut boiiig (nuied and all industrv is miiU-rgiiirif; n labored ro idjnslinent. The coming onfeiciiio, therefore, will have an heroic service to n mlor, piovidoil H i- not n one sided nffnir The situation calls for lenr thinking, ib iteil soi v no nnd the sort of give nud-tako bnrgnining which is the onlv basis for ri inline co operation between capital and labor. Hut tlio i.uiforeiici' to In MiMossful must ipsiilt in enlarRiiiR production nnd in inlliienciiiR the L'OO.diKi m liOll.OOO men now on strike in the I'nlted Stntes to return lo work furllinith The lettir also deals with the eiv of the nhVris of the regular nrinv. the poor pn.v of public school tpnihi-r". government tnntnti. piohleering and railroad loRsntion, in wliich Mi. I,n pajs Ins i(spMs to I ho IMiimb bill. As usual Mr. T.aw is snpremeh optimistic over the futuie oullook for business nnd finanie. Debt Payment in Ceding Islands The proposal of Lord llothermero, brother of l.nrd Noillu lifle. Hint Great Uritnin take stops to airango a licpiidntion apnit of her debt In the I'nitod States by irdiiiR some of tlio lliilish Ve India l"lind to Ihis countrv. was mirrcsImI in this column sevcinl dnvs ago There is a very wide variety of opinion on the Mihjoi t . Smne parties who say they have visited these islands claim thai there is n maiked souti ment among the populal ion theio ngumst Ameiica and Anieric ans. I mo nf the leading bankers in the ity. however. sns bo was ihoio a few juns ago and mm what ho heard ho believed a transfer of the islands to the Vnited States would be vorv agreeable. In fact, he said the people of Hie islands were complaining that they could nol market their splendid imps of grapefruit in the I'nited Stales without p.iying a prohibitive dut.v. lie said ho saw tons of grnpefrmt lotting on the wharves. Another banker tnid t lint the difficult; which he saw- in the wnv was the clause of self-deternunnlion m the league of nations. lie said ho had never been to the islands, but he had heard that Americans uic not loved any too well by tho people. Still another banker gave it as his opinion that it seemed a splendid way for Great Uritnin to cam el a part of the crushing debt she ohos the United States. He believed that if tho taxes which Gicnt Itiitnin must levy on her people nre extended to Ilnti-h possession1 and ho otilil sec no good rasou why they should not they would fall on the people of the Iiritish West Indies o heavil.v that they would bo glad of n means of escape through a connection with the I nited States. Preferred Stocks on a Par With Bonds In Investment circles there was n good deal of fnvoiablo commrnt on tho issue of .$10,000,000 7 per cent cumulative preferred stock. Par value SI 00 of the Firestone Tire and Ilubber t'ompanv, offered by tlio National t'My Company. Some said this offoiing of prefeirod stock was n now departure for the National City Company, but a short time since they tinanicd an issue of the preferred stock of Proctor nnd (Iambic, Cincinnati, (1. The Firestone stoik is offered lo the public nt par and accrued intorct. There is a previous issue of l'i per cent preferred stock, of which $10,0011,000 i is outstanding nnd to which this 7 per cent issue is junior. Much of tho favorable comment on this i'ssup eoutoied mound the ', provision for ifdomption at 110 and aicrued interest after pnniding for the 0 per cent isjue at the same price. A good deal of the discussion was in refeionco to tho leilmiml diffeicnce between bonds and preferred stocks, nnd one baukei pointed out how iciout issues of preferred stock are so hedged around with safcguaids for the investor that they practically nre on a par with man.v bonds ns a safe jinost ment. He said at pro?.ont tho government was tr.ving. for purpoos of taxation, to place such preferred stocks in the bond i lass, but there is no getting bp.v nnd tho fact that there is a ladical difference. No matter huw attractive the provisions nnd safeguards, ho s.iid. stnek is stock which moans it is a partner dividends need not bo paid if it is considered good business policy not to pay them, but a bond owner is a creditor nnd his interest must be paid. This banker drew attention to tho increasing ninoiiiit of new financing which is being done through attractive issues of preffned stock "instead of bonds as formerlv . His own house hns held aloof from the ihange to a great extent, but ns he acknowledged, "we are nil nulling to it." Ho said the big investor ondaj is buving preferred storks in preference to bonds on account of the difference in taxes, which aie nnn li less. Bond Business Continues Slack There is some complaint among ihp bond houses of n slackness in business. The manager of a largo bond concern said ho boliovid it was onlv a temporary dullness in keeping wiih the unsettled condition of things generally. Never before, he remarked, were good bonds nt such n discount. The general list, ho remarked, is about 'JO per rent below normal pines. Notwithstanding the apparent alullness in tho bond market, theio aie signs of gteat activity in preparation for a busy reason. Selling staffs aie being recruited to full strength. It was said by a nionibei of a well known banking and investment concern that all the bond houses are at ranging bo as to place more dependent e on sales to individuals than to institutions. Some prominent houses are combining rcRiilar schools or nilleges for training younR men in the bond business, which, besides the technical instruction, give a course in accounting. lalward It. Smith & Co. nnuoumc that I. McLatu Wntteis. nfter nppiovi matel) two .veins with tlio war loan or gnniiitioii of the I 'nited States Tiens ur.v Pepaitmoiit. has secured his iclcaso from guvoi nnient soi vie and has toda.v become iiso ialed with them. At the Philadelphia Itnpid Tianit per It is said Hni per iV Turner, with Oli Co . of Cleveland. ()., nre offoiing It. F. i: i.;.. i. i" - .j.'.-.ii kii , iiiimit i per I'l-iii ilium . ..... . .!.. latlvo sinking fund preform! stock at tlint the Hrltisb manufacturer Mono lOPij to jiold 0.7O per tent. The I ' Mtmot hope to cope with the present shoo scarcity in l-nginnu. nirenuy innm festing itself In n rapid climb of prices. I by the Dye and Chemical Trade. Group 1 of tlio London Chamber. Import and export possibilities nnd precautionary The, Hoot nntl Shoe Trndc.liroup nf measures will be carefully studied. The .,,.,, , r-,r-.r. is London, chninbe'r is requesting official the London I hnmber of Comtner.e - from le CI,nrtmcnt endeavoring to have the restrictions ic- of C American delegates on thls-fotn-moved on the imports Into l'nglan.l of mission. Importations nf v-opper in me, nanus oi nruHcri- nun American footwear. slioes at present mo limited to cent of the 101.1 imports. amount now olTcied is S7. 000,000. Cash dividends paid lij tho Standard Oil companies ;n t,r. third quarter amount to Si;.",.i;7.",.,"t,", as compared Companv direi tors' mooting jostenhiv with R4.'JMI,!I in the second nunr tor. nml N'-'d.HOl.Jil.i in the thiid cpinr tor of mis. The dooioiiso r soi::. ."oo in pajnients in tho thiul ipmiter is aci ountod fur pi incip.illv because the ("thin Oil Companv declnied an extra dividend of SL1 7." n shnie, as compared Willi M i.i a share quarter. afternoon, .lerominh .1. Sullhnii, Jr was oleclid it director, vice .lohn S. Phipps, ot Now ork, lesigncd. I A ChnnRii Hoaid ot Trade momber !ship sold visteida.v for ,''l'.,."'i(l tut to buver, up .s,"i."0 Tho average price of Iwenlv aolivi industrials doclineil 0,00 per i enl ,cs tenia v to IOS.. ",'.!, while twent.v i nil -loads ndviiiii ril I). 1, per font to M IN. 1 . j After ilinrges, iloprn iation mid fed- I oral t.iv -. liio Pioico Oil I 'orpointiou shows a vim plus of S'J.S'll.Iss f,n the ' nai i mletl I lei ember ,'U . This is eipiiv aleni to S.1 77 n shnie on the uipital Sim I, of 'i'J'i pni. as c mill'. ire, I with n sin pin- i.f .1.IS0'I.S!I. or SL'.'iO a slmiel in tin pioooiling jeni . In tin- opinion of elnso ohsoi ei s ihe ' Inst ail of Ihe hig Crucible Stool mnr. I ket hippoill nine is Jet o i omo. Thiv. Ill their opinion, is suggested 111 the rate at whiih tho stock lonnnl last night on the door of the Now oih ' Sim k Fvi hiingo. Tho into at the close' was 1 Us pieiniiiiii, or n ihnigo of 7'sc a ilnv for the privilege of lior- i lowing ihe vim k. in addition to putting up the nun ket value of the slink in ash w illioul intoiosi. I I ' A dividend of JO per ecnl, oi S'JO. I was iloolntoil lis the directors of the' Cole Motor I 'at Company on tho mm- I nion simk The lompanv has no pro fotied simk or Hunting bonds ' T ' The Tiniisi oiiiiurnlal Oil Companv luiv pun based loo.oiin ailililumal iiiios. i of ml land in ( 'oloinbui. South Ann r iui, making the total uncage of oil tiinloiv now hold b the cniupanv in lh.it i lli.v 000. 000. The average price for fortyiepirveu ' lilt iv . lailioad nml industrial bonds ilioinil vivt-rdnv to 7I.S"i. u now low On I'M'' The piovioiis low reioril for l In iiirrenl vi.ir was 7I.!0 on Augu-t GOVERNMENT BONDS The prngram for tlio annual meet ing of the Tnnners Council of America, to bo bold at Chicago October 1(1 nnd 17. hns been completed. The first dnj will be given tn reports of committees nnd elections of officers nnd dlrcctois. On October 17 discussions will tnkc place on accident prevention nnd snni- in the piovioiis tation, cost accounting and foreign ttnde. August II. Vogel will address the convention on conditions in the hide 1 nnd leather trade. speculators continues to be otTered nt concessions below the li'l'i cent quota tion nsked by the lending producers on September deliveries, Reports were current josterdny that nffrmigs of spot metal were made as low ns L'L'U cents n pound. t " Manufacturers nf shoes have not sent out any, salesmen vvitli spring samples so far tills jour, although normally those men would bo ciujho rond in July nnd August. m Things arc reversed this Reason. Buyers ore coming to, manu facturers with such large orders that tho necessity of drumming up trade has been eliminated. ' Deliveries ot shoes have been delnjed, while orders nt the factories have piled up so fast that re fusals have bsen necessary. No order from any dealer for shoes will be ac cepted unless the manufacturer has sufficient leather to assure its being filled. 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 thnt delivery schedules will before long show some improvement. Ketnllcrs are carrying low stocks nnd are urging the early delivery of orders so that they will be in a position to handle nt least pnrt of their winter holiday trade. Aside from some active buying of navy blue by the textile mills there is r little activity iu the dyestutfs market. Dealers Rtntc that nianufaqturera aro doing business direct with consumers In many instances, the high prices be-, ing asked for colors enabling them to make a good profit. I'nlted States Consul Felix S. fl. Johnson, of Kingston, reporting on the. wool clip for this scasou says: "The wool clip of Canada for 11)10 lias been placed nt 15,000,000 pounds, accord ing to July estimates. This 'represents a very material increase over 1018. Government figures would indicate a production of close to 18,000,000 pounds, but this is thought by well informed iiersons In the wool trade to be in excess of the actual clip. The 1018 production was 12,000,000 pounds. The number of sheep has been Increased by between .100.000 and iOO.OOO." Pnnnnm ronpon '-' ta.Trt 1'nnnnin tprim i a . laiil Prirntnn imip'ti .'s t'tl PiineniH 1 1 nt i I ' l'.Ms Pnlnmp i.mip.hi ! I'n.l rniiiinM n i-i i-1 l .! rmi I Mill plno y fi.l Philippine l ml rillllppln" I I" n lliil jk as i. US'. H si, nsit ss SS II' I nn mi Oti'i i(ii, B-J iu ir,i4 'ii I According n reports emanating from laigland d.ve importers from America and Hritish distributing merchants will lie leprcsontod on n commission soon to be sent into Gcrmnny nnd Austria i.iii i in mugs of the suhsidiai ics of Third National Bank PHILADELPHIA I ( OMIITION AT CI.OSi; (IK IH'SlM.ss I s-ontemliiT ti, lOla I RESOURCES roan! nnd 1mrstrurnts $10.713. .17 I "7 1 Imp frntn H ink & H.uiKpih 72l8nt(ui f'nph ;inr llrorr tSil,fi"ti 7J i Iai hariRCH f"i I'lr.n inp IlmiHp . . . 688.0JJ 52 IntftpPt I'ntupfl, Not 4i- Icctc-d 22,34 1 ) $13,139,792.20 LIABILITIES SfiOO.oon no Walkci Jus! as u comes Gordon from the Cow Natural Milk Clean Buy it because it's 'safe !' the perishable foods there is none that should be watched so carefully as milk. Milk hides all but visible impurities. Every bottle of Walker-Gordon Milk comes from cows bred and cared for on the farms of the Walker-Gordon Company. We know positively that the Walker-Gordon Company goes to ex tremes in keeping tows and barns clean and that t he milk is cooled, bottled arid double-sealed quickly. - W.c jiet it by fast express from the Walker-Gordon Farms, then deliver it cold from our own wagons. Physicians recommend Walker-Gordon Milk for babies one good proof that it is safe. Tele phone your first order today. SUPPLEE- WILLS-JONES MILK COMPANY Distributing Agents for riiiladclphia, Atlantic City and Vicinity Toloplione, rnplHf A30 -' . t l'jl y - vrS Resinol FOR SCALP TROUBLES Sciatcliinc the head can become such a habit that it sinclcs ou out as undesirable company. In addition, )ou arc cxposinR a raw surface continually to the chance of infection, as your finger nails arc apt to carry danger ous micro-organisms to the irritated spot with results that may prove serious. Get rid of that desire to scratch by using Resinol Ointment. Its healing and soothing med ication brings quick relief, and in a short time, generally clears away the trouble entirely. Dandruff, loss of hair, .uid other scalp troubles quickly yield to its curative powers. I'er frte rial 0 sttfi aria eintminl irrttt, Kfimel, Sal limerft Md, its- V jVs4lsSik iIhSpl. 1 t'lWHNB nSft ""SSsir ,vA9V-7 . w ?ii!,EftiNPi3.r;i!S& r H StW. &m ffljHaas?i",'vJ'? V KEEP THE SCALP CLEANSED Resinol Soap is admirably suit able for cleansing the scalp and hair. It contains in a modified form the same Resinol medication that is embodied in the ointment, It is especially pure, and of rare quality, free from harsh, drying alkali, and excellent at all times for general toilet use or for the treat ment of complexion troubles. Its joint use with the ointment seldom fails to clear away pimples, black heads and abrasions of an unsightly . character. DIRECTIONS Wrtpptd around ever? itr oi Rett. nol Qintmtnt and cake ot Reilnol Soap. it a booklxt of explanations and In structions. Read the contents thor-out-hlr and follow vht instructions carefully. To sun the treatment rtfht means that relief is nearer In slfht. I".liil.ll Slni K Mibsmiition to 1'dintnl Sim k . . Sin plus ;im I ndtvtilrr 1'rnllls Nol 1 1 iii'.itnpil ni.scouin . . i 'irriil.'itlou . 1 1 1 pn u- tlll's l,l.tl)IP I'.i mi ill'- nil ccnunl nf I .llillt Li .1 IIS . itii aso 01 PTI ;t4 22 :;: "."ii 117 i a r 100 no a:'i .1.11 11" 1 'H.'i nun no fit 2 s ll $13,139,792.20 IV. CMFroltll HOOK. Oaslilpr. THE Second National Bank oi Philadelphia AT FRANKFORD RESOURCES vMmlmJ 1 "Strength ami Service" Eatabliihed 1846 ' III Tradesmens National Bank 431 Chestnut Street, Philadelphia Report of Condition at the' Close of Business September 12th, 1919 l.oanv mil liivrstmi nts I iiiinl s.,i(s Homls. I s "lio.iMiiv I'eitilli.ili" , Inic fi nn H.uiKfc I'.Vf-M ami itCyUIII i: . 1 1 1 7 r, .nn m ' 00 IHI IMIII 0(1 I .f. 7 -Hi 81 , ft I J to t: LONDON STOCK MARKET Specialties Wertf Active, With Some Oils Strong Grand Trunks Active Indon, 5ppt. 10. -A fcelinc of con fidence was in evidence on tlio stock ci rianKP todaj , although the market was liecked. Specialties were active. Some Ml 6tocks were strong. Shell Trans port and Trading was 0 fi-lfl. fiilt edged investment issues and home rails wer without a leader and were dull. DwlliR to monetary firmness. (Irani! Trunks were strong. Trench loans were weak, owing to the unfavorable 'position of exohange. LONDON METAL MARKET Ju'ew York, S(U. 1(1. Cable advices received at the .New York metal ex change this morning quoter prices in London todaj as follow b: Tin Spot, 287, an advance ot 1 10s; futures. 2T0 10s, oft 10s; straits, f2f8, up 2. Sales, spot, 70 toi.s ; futures. 0-10 tons. Standard copper Spot, 101, unchanged ; futures, 101 10s, off lis. Sales, spot none; futures, 2,"0 tons. Klectroljtie copper Spot, U0, un changed ; futures, 12.'l, n gain of 2. Lead Spot, 23, 7s (Id. nn upturn of ?jj, Cd; futures, 2. Ins, unchanged. Spelter Spot, 41, ICs; futures, 42, 12s, 6d, up 2s Cd. No Change In Refined Sugars New York, Sept. 10. The refined sugar maiket shows no material change from eotfOitions recently prevailing. ocal refiners are still withdraw n from the market, although one refiner may be in a position to allot a small quan tity of sugar today. Prices are un changed at 0c, less 2 per cent for cash for fine granulated. Raws are un chtneed at 7.2Sc for 00 degree centrif ugals. The United States sugar equali sation board made no. po-bneg yes MWt, CHICAGO BUTTER AND EGGS ( lilrtlEn, s,p, j,. m irn llrfinl. 10 'J.'.ll lulls Timi TMr... -'(-.,',, tlMlH 4HV, i Mr 8i I I- 47 MS", KiiilS- Ui h f 1J ill! ' f sUt.i I'lisls 441,4-,!.., r I T v hrvls .'lOib 401 r rnlsrH'iint nils .Is i ) a p $8,419,103.15 LIABILITIES f.ipital Stock :snoonno Surplus .Hid Xct rriillls . MiilSiiHJ circulntioii I .'hi. noil uo Hills l'av utile with I'nUi.il Itnscivo Bank sn.oon oo lteiervl for Taxes .iml Interest .in 3fir, ni DLU'OSIT.S . i.n'iL'.2fl6 il $8,419103715 FHAMv AIi&ULAD, Cashier. Equipped for Personal Service RESOURCES "nns nml Investment .S10,353,871.B0 Cllslniners" l.lillillll.i I niler Letters nf Cretllt mill Arceiitailt es S,240,440.H(1 Due from IlnnUs 3, K3K. 830,40 I.MlmilBes.fnr fleiirlnc House S07.867.81 Airruril interest 40,271,18 liy.ll unit Iteserve 1,320,300.35 $29,117,596.10 LIABILITIES npitni si.nno.onn.on Surplus 1, .".00,000.00 Inilhlileil rmllls .. . . 401.8110. 86 I neiirned lllstuuiit 113, .103.42 ( iriiiiiitiiiii .... nno.ooo.no letters nf freillt . 2.0"!4,OI(l.0O Aerrptnnees 2,316,4.13.86 eieplanees nt Oilier IlilnUs sntil 634,130,80 Hills l"anli!c trf I'eilernl Itrserie Itsnk, Secured by nliHKiltlons pf (lie lulled Mnles ..21i0,000.00 Hills Tnjnlile tn Federal Ueserve llnnk 1,000,000.00 Deposits 13,477,543.37 $29,117,596.10 IIOH MID . I.OF.Il. Trrsldrnt it ii Mr.nTiiv. AUe pre.. s. v.. f.ror.r.Mii'.nf. 1 l)Vli Ml BlliUtMH, (nslilrr As.t. C'hsIi. Mrr. rarehen Dent. .... ,,.. IIARD ni.KII.V. A.(. Cashier 4 t (i. .101.1,1 V. sslstHnt Caslilrr FRANKLIN NATIONAL BANK Chestnut Street West of Broad Philadelphia. September 12, 1919 RESOURCES Loans and Discounts $53,443,071.37 Liability under Letters of Credit and Acceptances 154,293.24 Interest Earned Uncollected 85,035.07 Due from Banks 13,614,344.10 Cash and Reserve 5,637,749.29 Exchanges for Clearing House 3,083,522.87 The Tenth National Bank 1641-43-45 N. BROAD ST. Philadelphia, September 12th, 1919 RESOURCES Loans and Investments $3,871,465.58 CveVianires for Clearing House 94.835.71 Due from Banks '. 174,566.18 Cash and kcsci-vu .381,783.88 LIABILITIES $4,522,651.35 Capital 300,000.00 Surplus ami Profits 187,210.92 . Circulation .... . iUit,UUt.UU Bills Payable, Federal Kcsen c Hunk ; 700,000.00 ., ( Liberty Loan S 40,117.00) c0rt. . , Deposits ;.DSK:::yBS $3,045,445.43 $4,522,651.35 LIABILITIES Capital $ 1,000,000.00 Surplus 4,000,000.00 Undivided Profits 817,326,59 Reserved for Taxes 173,081.69 Discount and Interest Unearned 97,518.50 Letters of Credit and Acceptances 154,293.24 Bills Payable at Federal Reserve Bank, Secured by (government Obligations 7,500,000.00 Deposits -. 62,275,795.92 $76,018,015.94 J. K. McALMSTEn, Praildnnt. I. A. IIAnnlS. .. Vltc.Freildent. II. K. SlIIKI.DS, Ant. Coihttr. i, WM. UAUOT. Canliltr y, si. OE1IMANN, Jr.. Ant. Caihttr M. I). ItEIMIOI.n, A.nl.tnnt Caihler A..rlc Snnrrimhcr. 1919 $76,018,015.94! Assets,' September, 1918 . ..? 1,522,65 1.35 . . 2,539,714.17 Hamurl T, Hoillim HcnrT' Tatnall I, ltulhrrfonl McAIIIitcr Krfderlck Iu llaily Kfflnsliam II. Marti I'trtr C. MatUIra DIRECTORS J. Auilruvs IlarrU, Jr, John Hampton llarnea Morris I.. Clothlrr 0. 8. W, I'acUnrd Cliarlton Yurnall XV. W. Altarbury Kitgar O. Frltnn Kilitnr,! F. Heals Danlrl II. Wenti Artl.ur W. Hewall Jo.tph Moore, Jr. Iul I.llll. lay rooka foseiom' jexchanqe: in all its BRANCHES 4, Gain .$1,982,937.18 JOHN V. UAUDER. PRKSIDKNT. HERBERT L. SHAFFER, Cashier. MARKET STREET NATIONAL BANK of PHILADELPHIA berilembrr IStll, 1910 RESOURCES I.oain nml Iniralmenta. . 17,31 1,801.31 Cunlomrr." i.uiiiiuy uurr '..nhi.rrlil Lrttera r Creillt nml Acceptonwa l,!57,n.30 Hue from IlaiiUa 3,371,133.05 llxrJianirei tor Clearlntr Home , 730,7115.3: Caili and Itetcrre ...... l,e8B,7i.1.3'J $24,608,376.29 LIABILITIES Capital Htnrk 1,000,000.00 Surplua and Net rroflla..,. 1,813,478.65 Circulation 600,000.00 Commercial I.etlaa of Credit and Acreplnncea 1,257,808.80 Illlla I'ajrable, Federal He. erte Hank 3,675,000.00 Depoilta 16,182,031.5 $24,608,376,29 FRED F. SPElilSSV, i;'.' v JCilt-. WRIGLEYS c a packsse before the war c a package during the war and c a package NOW THE FLAUOR LASTS SO DOES THE PRICE! , w' "f-l,lT" 'A M" ' " - v n'" - 4' ""b'Q! A Y J kV
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