(salgT "fTPVf-fWlp V B-Jfa," r .JW W EVENING PUBLIC liEDGER PHIUABELPHIA, THURSDxVY, OCTOBER ''9, 1919 23 WLa ' -1 EsSjS Wtnpfjttf, 1 V I h'1 i AUtiO'of RAILROAD EARNINQ8 Washington. Oct. J). Earnings of the larger railroads of the country In August were cstimntcil at JOO.OIKJ.S.'S, x as ?f'arftI with M28,441,noi for Au gust, lOjR, nccorillng to an nuiiounco mtnt by the Interstate Commerce Com lnisstpn. .TJ19,'""',""S-V. oporntluB revenue totaled "nMJS'l'H '" A"1' compared with nj04. 13,00.1 In the uorrcRpondltig I,JSftlt;L'at't rr.' Kspeiisex In Aticimt, .3ril).2Cn.22n, compared tilth $r,(iO,40:,. 342 for August. IMS. The net rerenne. estimated. Sn2.4ii7,14S In August, 1010, compared with $14 ,250,051 In the corresponding month last jcar. GOVERNMENT BONDS nw. Ant I I'anama coupon -, ivoo....... uv .. Panama, reatstered 2b. 1I8).... 8tt Panama coupon 2s 11)38. ...... 00 i .. Panama registered Za. 1088.... P8!i . . Panama coupon 3k. 1001 80 1U Panama registered 3s, loot.... S l Phllliiplno -In. 1034.-, J n Philippine 4a, 103.1 '' VI Philippine 4S. 10311 112 (111 V P Oov coupon L's, 1030.- toil ..,, If S Oov registered lis. 1080. ...Wii , lunjj M H Oov coupon 4, 102.1 mni Jinji TT H Oov registered 4s, lB2!i... .lOdU 100' tils of Columbia 2-fl.ls. 1024.... 07 , Liverpool Cotton Liverpool, Oct, 0. Spot cotton was active today, with prices steady on the hash of 20 ppints for middling at 20.8pd, The sales were 10,000 hales. The receipts were 2000 bales, Including 1100 bales American. 1'uturcs were steady In the early dealings. Spot prices were: American, rolddllug fIr, 2.'1.7."d; good middling, 22d: fully middling. 21:40d; middling, 20.80d; low middling, 18.8ml: good ordinary, 17d, and ordi nary. lCd. "Foreign Trade Through Foreign Investments" The Present Exchange Situation Offers Opportunities to .. American Investors ,, fVe invite careful consideration of the following facts: The obligations of France, Belgium, England and Italy arc universally considered to be the safest in the world. However, due tf the current rates of exchange, Americans buying1 the internal loans of these governments may make an ultimate profit on such investments of anywhere from 15 per cent to1 over 100 per cent. Former wars have invariably been followed by higher prices and prosperity, resulting in important industrial economic and intellectual developments in the countries that have been at war. ' The purchase of internal loans of foreign governments by , Americans is the most logical way of" stabilizing foreign ex . change, and it will at the same time strengthen domestic as , well as foreign investments. Any improvement in foreign exchange means the further devel opment of otir own domestic industry and commerce. By investing in the internal loans of these European nations we " will help our Allies, who are our best customers, not by charityv but in a most businesslike and concrete way. . "' ..." The ftilloioiAng comparison' of prices of government issues emphasizes their stability: BRITISH NATIONAL WAR LOAN 5s, issued at 100, are selling at "par . v FRENCH VICTORY 5s, issued at 87y2, are selling at 90l2 FRENCH 4s OF 1917, issued at 68y2, are .selling at 71 Vs ITALIAN 5s are quoted at about 95, an improvement of 7 points .within a short time BELGIAN GOVERNMENT RESTORATION 5s are selling at 103 as compared with the issue price of 95. Send for booklet "Borids of Foreign Nations" N A. B. Leach & Co. Inc. Investment Securities 115 SO. FOURTH ST., PHILADELPHIA Farmers Bank Bldg., Pittsburgh New ,York Minneapolis Chicago Baltimore Boston Scranton Buffulo Cleveland J 89,o6o Shares ' . Mercer Motors Company TBANBFF.n AOENT: Guaranty Trut Co. of Now York ItEGISTRAn: Columbia Trutt Company CAPITALIZATION Authorized , Common Stock (No par Value) . 1 10,000 Shares To be presently Issued 100,000 Shares From a letter of Mr. Emlen B. Hare, who is to be President of Mercer Motors Company, we summarize as follows: Mercer Motors Company is to acquire all the properties, business, assets, etc., of the Mercer Automobile Company, or substantially the entire Capital Stock of the latter Corporation, and is to be provided with $1,000,000 additional cash. . ' The Company's manufacturing plant is at Trenton, N. J., on the main, line of the Pennsylvania Railroad, and consists of a plot of 12acres on which are located a modern factory, offices, drafting rooms, etc., having a total floor' space of over. 137,000 square feet; so constructed as to provide for ample and ready expansion without undue interference with production. It is estimated that production can be increased to 250 cars per month by January, 1921, by the expenditure of about $650,000 out of the cash being provided by the present financing. Net earnings, before taxes, for the three months ending August 31, 1919, averaged over $42,000 per month, or at the rate of over $500,000 per year, and it is estimated, with the contemplated increase in production, that they will amount, before taxes, to approximately $800,000 for the calendar year 1920, and $1,500,000 for the year following. The legal proceedings In connection with the incorporation of Mercer Motors Company and the Issuance of Its stock are to be passed upon and approved by Messrs. McAdoo, Cottefn ct VanfcHii. xCtirrent assets and current liabilities have been verified by Messrs. Deloltte, Ptenderi Griffiths & Co., Publln Accountants. The property is being reported upon by Mr. Ernest IV. Pitman, Industrial Expeit. The plant has been appraised by the Standard Appraisal Company of JVetc Vor'.'. Price $40 per share Delivery when, as, and if issued and received by ui. I ( ! Colgate, Parker & Co. 49 Wall Street New York The information contained in this advertisement, while not guar- ,V V .V. ,.,. ant cat, U derive rol at-r which we believe I m$?:m. , , t. mwamnMMnfwnvwwmiiHHBaHMVMHBvatw n lllffl ItlimUlMI IH IIWMIMII !! H IMIII ANOTHER BUSY DAY .REALIZING SALES IN CURB MARKET READILY TAKEN nny other. No matter liow favorable the outlook may be for the worsting of (lie (strikers in the exiitlnj; stmgglc, the fnct thnt H drags on is more or lesi disurblng. London Bank Statement Ionilon, Oct. (I. The weekly state ment "of the Jtank of ttuglantl 'follows: Totnl reserves, 1!2,170,U00 : decrease, 2011,000; riirulntlon, 81,-10o,000; In crease, 203,000: bullion, 88,120,000; decieae, ,'i000; other securities, S1, 707,000; decrease, 283,000; other deposits. 120,331,000; decrease, 880,. 00J; pul)llcdeposits, 23,101,000; de- PrPftSft. f 1!.T1 1 .fMVl cnnAFiihinnf rnnnrl. VANADIUM STEEL STRONG NEW LEADERS IN PLENTY & "'-,1-niM!I; lcTT' "V"'- (serve to liabilities is nmv Ifi.nd imi cent, ngainit 14.30 per cent last week I " Trading Is Heavy and Fluctua tions Wide Houston Oil Moves Up, Then Reacts Never Before Have Such Exten sive Transactions Been Made in High-Priced Issues . New York, Oct. !). There, was an- New York. Oct. !). The Now York other day of heavy trading rtn'd iolcnt Evening Sun's closing financial review Huetlintlnns nn tlir Itrnnil elroot cilrli. tpdll.V sa.VS I til Widest mnvKlnnnt bin. ,'n ttntlnnl. T1",.r n.S VCr-T ' to distillguifjll Oil, which rose from lf!4 to 107 oued bv n rnietlnn n ir,(l. Vanadium Steel was stronircr th , . . . ;: . his oyen at any time since it lias been cvcr t1P Voltinn of nflerlnn mnv ho tin. tBc curb, about i,0.000 market has dlsnlaed and still' is ills- ... . . . - - - -- plajing a signal cnpacity for nbsorp- non. LIVESTOCK QUOTATIONS Chicago. Oct. . HOOS Ilecelpti. 18,000 head. Mnrket steady to GOo loner, lravy, JH.r.nftin.-jr,; medium, $14.800 tn SO; lltht, tl4.T.-MKP.t.O; llnht llithts. 114 i'.'lSf 10: heavy imcklnir eaus, emooth, I13.'J514; packlnic our. much, 18it i:i..-,n; p!m, in.75oci4.no. I'ATTW; Iterelpla, lO.iMlll head -Market weak. lleef ate, medium and heavy, holra and prime, MG.731MS 75. medium and good. Ill.'!5!rlti.73: common $N.7fiWll.:!5 l.nht, irood and choice, $14. 75 18 4j com mon and medium ts,2rii4 75 hulrh-r cat tle, helfera. $11 (10014 Sft; ennn, $n.2fl12.7f, caunfr) and cuttcra, S.1.2511 25. veal caHee, fl7W!8.2! feeder ateera. $7.50W13I Blocker teera, $(1.5010 2. western range eteers, $8Bi5; tovm and helfera $n 500:3 HHl;EP Hccelpta. 49.000 head Market weak Lnrnha, $139101 culls nnd common. 18. 5012. 75, ewea, n-edlum, pood and choice $lt.r.(l Sr 7 Ml culla and common, I3H0, breed Inss, $7 8UB18 l(nw City. Oct 0 -MlOOS necelnti. 5000 head Ixiwer Hulk. $14 O0W15.15. neavies, IH.,r.'cir 20, mediums, U.7J 15 SO. Ilrhti. 114.r,015 80. llcht llrht.. IIIIOHIS, packlnir bos. $12.50(213.00. i:i r.ii IfilO and comnares with nn ntlvanrn frnm OATTI.R Itecelnta. 10T6 per cent to 17- per tent in this . LV" lm.Wf.",!; U?To' weckUst jenr. The clearings through "mLTbi 'S!" $i tUP i.miuon uaiiKs ir hip wcpk wetf wifnt. frooff una 8000 had anJ 1"00 beef itecrrt, choice tnpdtum una irooa. 10.1. '.If 12.in. liflht enmer, jih yowl 7 s.i - - . i Iny R stock market fiom previous m t fr.no 4IU)aO(M. nenirm frs.I 10 onn lnof common nnd medium. $h ssma.un, butcher ,,f,,,Tte,VtfcT j disposition to offer stocks UN n result jear. . ! calvea. Ilsht and handv, welitht. $1RM7 Minn it of the higher let el of prices. Hut uhot- . . I feei.r eteera. $8 50a13 25. atocker steers irauetl 111 mi 'hares (hanging hands nt 42 to the new high record of -l.'l'i. (icueral Asphalt, which wan selling at 155, reacted to 140. Thero was fairly large trading in American Tobacco Securities nt 78 to 77. the trading position of this slock 'dug commented on because of its selling at oiiual to 312, while American To- ticcA on thccxehangc wus In supply at umltid 303. n t'uitcd Slates Steamship, on sales of t0,()00 shares, ranged from 8V6 to 7lj. .oft, Inc., was strong, ranging from 2." to '-!!. Submarine lloat sold nt 1fi' to '0'j, Aetna Kxplosivcs was citiict. with lcs at l()iC to 10'i. .v inrgo volume ol ousiness was Trading was liroail in scone and ncain reflected unmlstakablj the wide interest in securities of both nn investment nnd speculative character. Probably never before in the history of the stock ex change bus there been as eUensho business transacted in high-priced 'is sues as now. The motors in particular and th'c specialties in general occupied the cen ter of the stage. (Jeneiiil .Motors, Chand ler, White. Stutz, I'nitcd Cigar Stores, Virginia -Carolina Chemical, Interna tional Harvester. International Agricul tural preferred nnd otlurs were ospec- CHICAGO BUTTER AND EGGS ChlraKO. Oct t) IlUTTKn rteceln.'a tuba Firm KktrU 03r. firsts, li'Jftai'ic, 4045 Mnrfi infiTr.nr KOllS UecelplB. 5(1 tt rirsts, 53j 4?5."c ordlnsrv miscellaneous. 475?5Jc. rases. firsts, Firm. 4017e, 7Rrn no. H1IKK1' TtecelDts. 12.000 head Weak I.amhs. $131(1: culla and common, $S( 12 50. vearlinir wethers, 4ft. r.OffJt0.75; ev.ee '' 75i7 25, ewes, culls nnd common t3 n 5n, hreedlne ewes. $7(114, feeder lamb" tlM3 rittslmricli Oct II, HOOS Receipts 'erke p as. BilEEP rs. SlB.BSnlBi llsht vnrkara. 1I1.KSM K. -i- . nK.I i.i " ' ' ,... u, i'so. e,u v 11, ui. 114.25614 AiNU IjAMIIS- Steady. Top sheen, 10001 top lami $22.50. Receipts, 1 limh. Steady. ts. .1000. IDS, 110. top, 1 '1 s J , mm T TIn.it St, Louis, Oct. P. 1IOQR Ttecelpl sim;i, neaa. viarKst aieaay. nunc lie 1K.40t hn-v. 114.7nfBlR OS. mAl.tm Its '."Ji..WJv fH.78O18.0Ss lls-ht 'llhts,"i, t " -' '! 1 n 1-uv.niiiK Duma, niuwil'i u t $ia13.75: jnacklne aoiva, rough, $ll18; ,1 plrs, 113 50015. ' '"-"r.i iAiii.it iieceipts, dooo neaa. Market heavy, choice and prime, $10017.78; meaitim l and good. $10.75Olfli common. $8 7Be10.T5i light, good and cllce. IMOlT.SOs common and medium. $R14; butcher cattle, helfera I7.25JJ1I1: cowls $n.50U.60 canneri and cut'ers, $5 2-ino- veal calvea, light and handy weight, $1517l feeder steera, $7,30 jf' "nck'r steers, tfl 60B.7S. ' SIIKnr Itecelpts. S300 head. 'BUTTER, EGGS AND CHEESE New York, Oct. 0. nUTTEIt High and firm Ttecelpta 04o tubs. High scoring-. .V4 Bfiiic; extras, (lie. outalde: tlrsts, BRli & 04c: seconds. 01O(l4e: state dairy, 534o. liqos Firm. Itecelpts, 17,187 csseS, Fresh Rathered extras, tlfl(fi87c: fresh gath ered firsts n.ionsc; fresh gathered ettrs, firsts. 0.lC5c: fresh gathered seconds, 88B f!2c dirties, No, 1, 4HW48c: do. No. 2, 41 45c. checks. No 1. 41W42c; undergrade, sr, 40c. firsts. 00fil82c! seconds. RIAKQ., r state and nearby hennery whites. baOBGc: gathered nhltes. fl0t82c: western vrhltos. 05MR1C, Pacific coast, 8485c: western and southern gathered whites. 5878oi etat and nearby browns. 70S78c: gatliered browns nnd mlxM. 6G0ic; fair to prime, noecsc; refrlperator. No. 1, OOOBlc: do. No 2 4fl(ff4tc. (IICn.SK Steady. Itecelpts, 1074 boxes. Flat, currert mako, colored, nerago run. 3ir3i"ic; nai, current nun, jvnite. aver. KjfeW, tninsnnlml It, lT.,l(n,t V.nltt Ul.n,:..,. ... lUUV lltlOMlIlt. 1B!i to 3. I 1-ncli luy 8f,p, " lineup of mUccl- IUIICUUS 8I1U1CS )1C1CI1 UUL HIT iUlCUlltlll. l.MlUSTniAI.S , . "id AettlA r.,ntnclin. 11,11 AIIImI l'uckers Ill) V T Hi o 77 Am llrit JHir " Am -Marconi (I Yes close Ask (sale) ll"Va IU1. ill 77'i l( Amer Snftv lt..nr . isa Ant Writing Paper 15 ' Air Reduction 54 Onnadlan Car Co 82 Con Car ft Fdy pfd .... no Carbon Kteel 138 t-nrwen Tool 1 Chalmers Motors 8. Cherolet Jlotors 325 Cramp mo ( urtlss Aeroplano 15 l.merson Phonograph .... (14 (leneral Asphalt 15H Hall Signal 7 Hejden Chemical 7'i Hupp Motors ll'J rdlan l'.iLk 28 Inter Motors . 82 Inter Products t r2 Inter ilubber 2tl. I-ako Torp lloat it; I-ehlgh Coal 'Sales 811 l-lbby JIc.N & I.lbby 27 Lima I-oco p4 If t Inc r,B8 Martin Parry ; 21 N Y Shipbuilding 53 Nor Amer Pap Pulp 4si Otrs Blevator ; 110 Peerless Motor 40 Perfection T . H Ti Philip Morris It (J Poole hng 30 Pressman Tire 7 Javold Ohio tcrlpps lloolli jo Shell Transport 7rt',i standard -Motors H Steel Allojs ,-, .tubmarlne HI Sweets of America 12'i Hwlft Intl f.7 Tobacco Products 85 Todd Shipbuilding 112 Triangle Film . United Motors 51 United Pictures 22 United Profit Sharing.... ai United ItetHll Candy ... 21 U a Steamship IV, Vanadium 42"i Wright-Martin Air 4 STANDAM) OILS Illinois 175 Ohio 30ft Prairie Pipe 280 S O California, .... 300 S O New Jersej ...710 S O New York .. . .425 0's 1 lit 511 40 101) 140 It's 400 180 IS 155' II 7f It's 211 no 53 23 .-' ill 2!) US 25', 31 67 US 87 IS 1 12'J 511 II 20 51) 7ll'i II S 17ti 511 37 ISO Ti 5S 21 4i?: 3U '8 ISO :t7u 2 SI 305 7211 130 "HI 42 i lN'Mi:i'ENIr.NT OILS llen Oil Hoston Wjo Oil., lirazns Oil osden . Co Blk lusln nter l'etroleum stand Oil & T... loma Oil louston Oil . . , . lerrltt Oil ,Ietro Petrol . . , , dldwest OH .'.... hlo Fuel mar Oil & Gas. . 3apu1pa Itef Sequoyah Sinclair Gulf .... -touthwest Oil ... United Oil . ls . 75 . 28 . 11 "i . II . 34 . s . 17U .154 . 25 00 w MINING STOCKS 77 70 28 tt . . Ills lHi Hi. . . 3114 .. 8, .. 18ii .. 158 211 , 25 14 174 '. '. 28 ll'i 0 7 .. nn, .. 25 Hi 1J. IT, '30 111 '51 5 5 $ 4,a 5 Atnska n C M Dig 1-edge Huttn New York .... Boston Montana ,5 C r H & Jerome '4 Con Arizona 1), First National - 19 Fortuna Cons 20 Goldtleld Cons 18 Goldfleld Florence CO (ioldfleld Kenanas .... 3 Goldfleld Mergtr 4 Green Monster U Hecla Mining . . r.'s Howe Soupd , 4U IndepenUni-e 1-eaa 2 Jim Butler 2f V, Jtrnbo Extension 0 11 McKlnley Darragh 70 78 Magma Copper ..44 48 Mother Lode 01 64., Minea Co of America.... t 'i Nlplsslng 11 11 JI Ray Hercules .,,' 2' 2H San Toy .....v.... 0 11 Tonopah Extension JH 24 United Verde 45 48., West End Con Its IU White Caps 16 18 noNDS Cosden Oil (tr 101 104 Cosden 4 Co Us 101 104 Russian Oov 5js 37 42 Russian Gov OH s 37 42. UK IS 41 40 FINANX'IAT. 1IUFFAI.O Sl'SUUKHANNA RAU.ItOAD COIll'OHATION First Mortgage 4V- Gold Ilonds The ljqultabie itusi company of New York, Trustee under the Buffalo b fjustiue- hsnna lta Iroaa t-orporauon Alorgace.''d December 3D, 1013, the Sinking Fund dated hereby Invites offer fn for tho Bale of hnnds Issued under Bald Mortgage, to exhaust the balance of Sixty-two' Thousand, Three Hun dred Seenty-Blx Dollars and Eighty-three Cents (iU2,H7.3). -Tne Bonds offered at the lowest prices will be given preference. Sealed offers will bo opened at the office of the undersigned. No. 87 Wall Street. New York city, at twelve o'clock noon, on October 14, 1010, and should be Indorsed "Offers, for ie Sale of Ilonds to the Buffalo & Susque hanna Railroad Corporation Sinking Fund." The right la resened to reject any and all offers. , THE EQUITABLE TRUST COMPANY OF NEW YORK. Trustee. ny LYMAN RIIOADES. Vice President. Dated New York. October 4. 1010 The favorites of n dn or two buck liitiBiiislicd for the time being. The -tandard shares vtcro stionu within a modest rnn'Ke of price minements. Steel nioed forward to the neighborhood of 111 early in the session. Crucible llo'iped about a good deal, as, indeed, did most of the specialty group. At one time Crucible was dn 7 points, Ilalcl witi ocr - points and Mexican Petro leum over - points also, (leneral Motor ct through -l)(i and Chandler ran up to HOD. "The coppers were barolj steady. The shipping issues did well. The rails were neglected mill but frnc tionrlly changed in nuM lases. Since the iniprovcinuit in the Presi den'ts condition, the settlement of the Itritish railway strike and the irtuol diminution of the steel strike ns- a mar ket factor, the Street's Intel est hn,s luigclj converged on the Industrial con ference in session nt Washington. Mr. (iompers's resolution coiling for the ap pointment of n commission to pass on the merits in the struggle between steel employers nnd r-mplojctl culled atten tion to the possibilities within the con ference ns n medium for bringing about jin end to the steel walkout. This phase has more lmmeiliate in terest for the financial community than Business Courses in Ocean Trade and Traffic Commercial Spanish and Correspondence Business Letter Writing Banking and Finance La Salle training has increased the efficiency of more than 160,000 men and women, from office clerks to corporation presidents. La Salle Extension University The World's Created Extension Univenitjr l'nstern Office fiOR Chestnut street I'hlladelphlii Ytrlte, Call or Telephone Walnut 5131 (Open Krenlngs) EXPORT! FOREIGN TRADE Thousands, needed Double your salary. United States after-war business offers wonderful opportunities for men who are trained In exporting and foreign (cade. United. States exports to South' America alon suffer loss of .10 per cent for want of KWriENT PACKING CLEARANCE, sHiri'iNG and m:i.ivi:uY YOU CAN QUALIFY! I.cirn nt llomel Our Import Hook Free. Requirements: tletween 111 and 4." jcara of age, energetic and ambitious, willing to study under direction of our Exceptionally Experienced Staff of Experts. WRITE OR TKI.lII'IIOVr. TOR OFFH'K tl'I'OINT.MKNT AMERICAN COMMERCE ASSOCIATION Inline K. Leu Is, !);st, hecy. (115 Land Title Hide. Tel. Spruce S263 Announcing the opening of the Foreign Credit Corporation (UNDER SUPERVISION OF THE FEDERAL RESERVE BOARD) 37 Liberty Street New York f Capital and Surplus $6,000,000, fully paid 1 Inaugurated by Central Union Trust Co., New York Chase National Bank, New York Guaranty Trust Company of New York - Liberty Securities .Corporation, New York . Philadelphia National Bank -1 The Shawmut Corporation of Boston Union Trust Company or Pittsburgh ji Jl f"T"HIS Corporation was formed primarily to accept JL the drafts of both foreign and domestic clients for' ', the financing of export and import transactions. In . Europe, business of this character is done by institu tions known as "Acceptance Houses.' v The activities of the Corporation will be centered upon tne creation of Acceptance Credits, and the broadening or their use among American business interests. f OFFICERS E. V. R. Thayer, Chairman Board of Directors Grayson M.-P. Murphy, President G. M. Dahl, Vice-President D. Raymond Noyes, Vice-President Romaine A. Philpot, Secretary s Treasurer We shall be pleased, at any time, to explain the scope of our services and to that end we invite inquiries and conferences Foreign Credit Corporation 37 LIBERTY STREET NEW YORK :A Itu MI11CK 1 lUUiKISK U1AJ 1U.1I K& at a Special Meeting of th. Stock. holders ot tb prmra and Merchants liaok. which 2307 shares ot ins 4000 shares out. Standing were present, either la person or 7 pr)y'...,nd.,,'0"r5' ."'olutlon authorli. tng and directive the. .Directors and Offloera of the Bank to convert the Drovera aoS Merchants llanlt Into a National Bank, and to make th; certificate required therefor by ma Una of the United States, waa unaaf. nouslr Bused. EnNKST R. PATTOM. ' fashler. Annual Meetlnga Northern Pacific Itallrnad r,m.... fKSS NUTICE IS UiSBKUX OIVEM fllAT IKS' the annual meeting ne .. trr?,. fcolders of the Northern 1'acfile Railroad Cam. pany win n nom on xouraaay, October IS 1910. at twelve o'clock noon, at Nn m ViJS ,u street. New York city, for tha purpose of electing thirteen Directors of the Com. un, to serve for one vmv kn...,n ..T guccessors ar; elected, and for tha traneac- i?".u. .... ri. .::'.v ,u wuuy c New York. B-pteffbefrarirV""" The Matlack Coal & Iron Corporation Main Offices 52 Vanderbilt Avenue, New York City. Garay 245, Buenos Aires, Argentina. English 'Correspondents W. H. BOWATER, Ltd., Birmingham, England. Montevideo Rio de Janeiro Caracas Guayaquil Foreign Agents Valparaiso Madrid Vladivostok Marseilles Genoa Bogota Lima , Philadelphia Domestic Washington Offices Norfolk Newport News Bunkering Agents at Portland Boston New York Philadelphia Hampton Koaas chare8ton jacKsonvino New Orleans Pensacola Providence Baltimore Savannah - Mobile Galveston IlllliiiiiiiiiiillllllllllllllllllllllllllllllllllllllllllllllllllllllltlllllllllllllllllllllllUlir " eta. Wake up, Mr. Business Man OUTH AMERICAN business is knocking at your door. Learn Spanish the shortest possible way, by the lor- s tina Phone Method, which will open the door to jrreater oDDortunities. The successful commercial 5 man of today who desires to develop will readily see the ad- vantages to be derived by a comprehensive knowledge of E s foreign languages. S E Previous to the great world war wo did not have tho ereat prospective foreign trade that we have at the present S E time. E E Foreign languages were not then an absolute necessity E as they are today. ' E We wore not then united politically and commercially with E '"f s the rest of the world as we now are. S f E Nineteen years of actual experience have enabled us to E bring this Method up to its highest stage of perfection. Our teacher is your phonograph and the use of our E E records makes its voice clear, distinct and even more penc- E E trating than the human voice teacher. E The entire method is perfect in every respect, so perfect, E in fact, that it S3 used and endorsed by such great educa- E E tional institutions as Columbia University, Now York Uni- E versity, Lafayette College and a host of others too numerous S to mention. E You don't have to go to France to learn French, or Spain E to learn Spanish. You can learn in your own homo on your E own phonograph. m E The cost of the proposition is practically a negligible E' E quantity in comparison to what it has to offer. E Write for Booklet or call for demonstration. E I CORTINA ACADEMY I v 1510 CHESTNUT STREET ' E Translations Solicited from commercial houses and corporations rBtllllllllimillllllllll'llimilllllMIIIIIIIIIIIIIIIIIIIMUIIIIIIIIIIIIIIIIlllllllllllllllllllUr. irSf notice is iit-.nEuv givkn that VZBf at a Special Me.tn; tlV& J, holdera ft the Ilank o Commerce, held t"i.JiSfb J" of. "BtambaF lilo, which 2602 shares of the 8000 ahares held at area of the S00O ahares out. present, either in person or iHW . "olutlon autnorl" standlnc were hv rtrozv. and ln and dlreotlrur the Directors ana Office? nf tha Bank to convert th n. ni. .. msrea Into a National Bank and to makej of th United States, waa unanimous passed, JOHN P KOI.B. Cashier nlsMend THE arKEHAt, UT1UTY XOMPANY AT a special meeting has on October 1st declared a guarterly dividend of m. on Itotvmtmta and Ui on to, common stoclt " sioo.noia 'X ' J'tg MitasTSUS: m 7 ?. W; KKS mm International Freighting Corporation Regular Sailings Qj -Ml' LINES Through Bills of Lading Isiued 1 ) PHILADELPHIA lo SOUTH AMERICA falllnr at l'ernambuco. ITalita. nio de Janelre and Montevideo. PHILADELPHIADTo" FRENCHAf lANTIC PORTS ' BorJeaox, sUvrenanklrk. . s (. ur THE ATLANTIC REFINING COMPANY 3144 Pauyunk Ave. FibdelBa, E. U. A. iraSVilI PR1 REFINADOR15S DE TODOSLOS GTOfS DE PE BjWjSISSCJCgEBMJPJ fc 1 tfl 1$ "I i tti I s ,, ft 4 'i f T A .i'i ihSM