V
IS.
sT
, DIVlDfeNM DKCtABID V
4Jew York JUtCTL-tV C. MttrUrlv of 9U
Mr cant, partMs Deeenrtar 19 to stock o
tfnr Co.. J
tsrrtd.
eoro Dsoar
NatlensJ Le
ember 2.
uui .cast iron
it 1
duefterl
Pip and Fpun
ceni on pr
trterly. of 1
able December IB In fttoeV Af
3eojd December 1.
aUensI Lead Co.. eusrterlv 1U rer can
on common. parable December SI to etock
vi recera jjecemoer 13.
Atlantla Coast Um. semi-annual SH per
cent on common, payable January JO to
stock of record December 19.
American Locomotive, quarterly 1H per
?ent on common and 1 per cent on pro
erred, rfyable December SI tn ttoclc of
record December IS,
. Amerlean International (.'orporatton. quar.
terly of S1.S0 on commo and preferred,
payable December 81 to stuck of record De
camber 18.
Railway Steel Sprint, quarterly of 2 per
cent on common, payable December 81 to
ttsth of record December IT) also quarterly
' of 1 pen cent on preferred, payable De
cember 0 to stock of record December 6.
New, York Metal Market
Now Terk.Nov. 20. COPPER All months
offered at 20c Market dull. Lead Spot
and November. S8.d30d.T5c: December, Jan
uary, leoruary ana jinrcn o 7ua?o uc Mar-
-E.BI
-Snnt
November and December, T.eOvT.TzHc:
ket quiet. Spelter.
aet St. Louie-
January and February, 7.707.80c.
easy.
Market
Capital
and Business'
Growth
Is. lack of capital and
necessafy equipment
, holding back produc-
tion 1 Are insufficient
factory facilities retard
ing your growth? ,.
Our Business Trading
Department is in touch
with individuals ready to
invest in a going busi
ness. We are in a
position to render 'valu
able service to those who
are seeking to buy, sell,
merge or invest in in
dustrials and going con
cerns. i
Business Trading
Department
Elkins, Morris & Co.
Investment Bankers
Land Title Bldg., Phila.
JORNFlNf.SriESF!RM
DESPITE BEARISH NEWS
amnqya? . other. ' !LED(tenf phicapeihi, a
Bulls Show Stubbornness In
Fa.co of Advices and Easier
Feeling In Cash Article ' '
OI1AIN BELT WEATHER FORECAST
CMeure, Nov. 20 Illinois Inereatlnr
cloudiness tonight and Friday, probably
followed by rain enuth. Mlneourl Un
aettled with probably rain Friday ' and
I" went tonight: cooler, north Friday,
Wisconsin Increaelnv cloudiness becom.
Inc unsettled Friday. Mlnneeota, loir a
and Nebraska Cloudy and probably un
settled tonlrht and Friday, cooler. North
and South Dakota and Montana Fair to
ri iM and Friday, colder. Kansae Un
settled, with probably rain tonlrht and
Friday colder Friday. Wyoralne Fair
tonlsht and Friday colder.
Chicago, Nov. 20. Notwithstanding
ft largo amount of bearish news, offer
ings of corn decreased today and the
market finished firmer. ,,
Tho start was weaker under scattered
selling, induced by another crash In
foreign exchange, failure of the Senate
to pass the, peace treaty, fine, weather
and cheaper hogs. " Later thero were re-
f ports, of receipts 'of 250 cars here and
larger arrivals at at. .Louis, Kansas
City, Peoria and Omaha, along with
intimations that the country, gener
ally, was tendering ctfrn to arrive more
freely. .
In spite of this budget of, advices and
an easier feeling in the cash 'article,
bulls showed stubbornness and bears
we're discouraged because of a good de
mand through commission houses.
Fears of a shortage of coal for roll
ing "stock kept December shorts uneasy.
Local traders were confused over the
monetary situation and reduced their
commitments.
Oats rallied and became more active
after a dull and eaejer start. Buying
bj' a. local proiesMonal torced shorts to
cover. Elevator-interests and commis-,
slon houses were on the buying .side.
As in corn, it is a Question of get
ting grain into satisfactory December
contracts.
Export business appears to be at a
standstill, owing to the demoralization
in foreign exchange.-
Letdlnr futures ranted aa follows:
Corn wew.aeiiverj j tho
Lawrence B. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
ISIS KKAX E8TATK TItCfiT BLDG.
lrettrste and adjsit partnership and
wrporatlon aeeoonte. Alas proper P. 8.
Inrame Tax Returns.
MWYORK BOND SALES
H-mrf-ar- ef tfc ludlrldoal transactions oa the New Voru Exchauio
71
13
Dec
Jan...
Oat
Dec.
May..
Lara
Jan 22.85
Ribs
Jan 18.83
May. . itf.is
Bid.
Open -Klsh
'i l.B?-)
1.8:
1.24
Low
1.11
l.Se
l.SiVi
TK, - lltt
.85 2S.15 22.75 28.02
12:30 close
l.S2Vi i.s;ih
1.2 1.23
73 72
71i - 73
18.42
18.20
18 SO 18.42
18.12 18.13
18.45
18.15
Liverpool Cotton
Liverpool, Novr 20. -There was more
inquiry "for spot cotton today, with
prices steadv. on ' the basis of an
advance of 32 points for middling at
23.66d. The sales were 8000 bales.
The receipts were SOOO.bales,. including
2700 bale's American? "Futures were
uteadv in the early dealings: Spot
prices were: American, middllnr fair.J
Jn.m a; good miqaijng, u.toq ; iuiij
middling, 24.60d; middling, 23.66d;
low middling. 21.41d: good ordinary,
10.2Gd, and ordinary, .18.26d.
READJUSTMENT
OF
Maxwell Motor Company. Inc.
AND OF
Chalmers Motors Corporation. v
To tho Holder of Crtifictto of Deposit Issuad under th PltcsiJ
Asrefnaat of RuuJjustniant, dated Augiut30, 1919. lor
f
MAXWELL MOTOR COMPANY, !cc
First Preferred stock)
8econd Preferred stock 1
common staeu,
CHALMERS MOTOR COMPANY:
First Mertxare Sir Per Cent rive Tear GU Watw.
CHALMERS MOTOR CORPOBATIONt .. . H
Preferred stock)
Common stock. ,
ar.a
To the Holder of tho nbove montJoad Mcurit3a.
Announcement is hereby rnada by the Committee aa follows:
I. The certificate of deposit issued under the Plan and Agree
ment of Readjustment for first preferred stock, second preferred
stock and common stock of Maxwell Motor Company, Inc., have
been listed on the New York Stock Exchange. '
2." In order to conform to the requirement of the Stock Exchange
twith reference to listing, the time for the deposit of acuritiea
under the Plan and Agreement is hereby extended to uvi includins
DECEMBER 13, 1019. j
3. A majority of the stock of Maxwell Motor Company, Inc., and '
majority" of .the stock of Chalmers Motor Corporation has been
deposited under the Plan and Agreement.
4.. In order to enable the Committee to carry Us Plait into effect
' further deposits of securities are necessary. The agreement between
the Committee and the .Banker for the purchase by the latter of
$10,000,000 of 'Notes to provide' additional cash working capita for
the New Company as set forth in the Plan has been extended to
December IS,' 1919. A the raising of thl newmoney la essential
for the interest of the security-holders of the present companies,
the Committee urge .the immediate deposit of securities In order
that the agreement with the Banker may be carried out Securities
should be deposited with the Depositary, Central "Union Trust
Company of New York, 80 Broadway, N.' Y. City.
Dated. N. Y November U.
C. B.' jnJOHBS. Secretary.
1919
HAEBY
SSO
JAMES C, BRADY.
JOHN B. MORBOlJ
SiitrA 6, :
Scon ck
Citiratx.
i.
n. un
Wwvivw ntWAW
J. H6RACE HAKD&fl.
Ce
fasitUU.
Safe Investments
Ti.at YieW 6V2,to 8
s'
INVESTMENTS with percenUgoa of yield u lUgi as thee
1 the atoclcs of established corporations ot known prestlro held
to be "safe" in financial circles, without the speculative feature
so common In similar yields are eepeclaJly attractive to the
conservative Investor. "We rwUaxfce recommendations to Inter
ested persons.
2Aa eioekt that we have sold Mir clienUU Jiav ttavty defaulted
in axwacna or vmercsu. , -
Write for flrrenlar X-S0
yUUaSSRS BOBLBDeXS
Pte-Tradlho Offer
AKRON TIRE COMPANY
Application U tmnar made to List AKRON TKiE
cm the New York Cqrb '
Write for descriptive
circular
J. H. DIENES k CO.
Investments
Lxfsyette Bid;., Phfla.
Tsleekeae. ZeMBkes4 ctlt
Alaska OMevA
1000 .... 20
Am Smelt A WSa
1000 .... SH
1000 .... sH
Am Tel & Tsl' clt
booo .... si
Am Tel & Tel lis
1000 .... s
tooo .... ss
1000 .... S3
Am Tel & Tel ,
1000 .... 00 Vi
1S00O .... 00Vi
looo .... ooh
S000 .... 00
1000 .... 00
looo .... oo4
S000 .... 00
Anglo-French Bs
4000 .... 9t
10000 .... ou
ltooo t:.-
isooo .... oti
laooo .... ooH
2000 .... 06
6000 .... 0ft
10000 .... 0814'
10000 .... 06V
BOOO .... 0V
200O .... 06
1000, .'... 0V4
liooo...'.. osu
2000 .... OOVi
10000 .... 06
1000 .'... 06
1000 .... 00 .
8000 ,..t 00
S00O .... OS
11000 .-. 99
looo .... o
3000 .... 06
1000 .... 06
10000 .... 00
6000 .... 06
10000 .... 06
isooo .... o
Arg Republlo 5s
2000 .... IT
Armour & Co. Wo
10000 .... S3 .
1000 .... S3
Att Coast Line clt
. 1000 .... 71
1000 .... 11
10000 . ... 11
4000 .... 11
4000 .... 11
Bait & Ohio fd
1000 . ...-
Bait & Ohio cv
10000 .... s
1000 .... 6
4000 .... 66
looo
sooo .... 00
10000 .... 66
3000 .... 66
1000 .... 68
Bait & Ohio 48
sooo .... 01
SOOO .... 61
Bait Ohio Gs
SOOO .... 69
10000 .... 66
"1000 ..... 66
6Q0 ...v. 68
SOOO .... 68
1000 .... 65
Bait & Ohio s
2000 .... a:
8000 . .. 0t
3000 02
1000 .... 91
B & O Eo W 3H
2000 .... 11
B&O'P L E W.ls
10000 .... BS
2000 .... (55
B&O P L B W 4a
1000 .... 56
12000 .... 56
Beth Steel Corp fd
2000 .... SS
Brook Rap Tran 7o
1000, .... BO
Bush 'Terminal 5o
2000 .... 18
Central Paclflo-lst
sooo . .-. IB
Central PaclBo.S"
SOOO . ... 82
dies & Ohio 4s
2000 .... 14
2000 .... 14
1000 ..... IS
1000 .... 14
1000 .... 14
1000 . IS
Ches & Ohio Ss
2000 .... 03
Ches.ifc O CV 6s
2000 .... 84
1000 .... 84
Chs & O cv 44s
100O .... t-m
2000 .... 11
SOOO .... llVt.
Cbl It Alton char 5s
1000 .... 81
Chi to Alton 3H
1000 .... 30
1000 .... 30
Chi B & Q rm
2000 .... 10
Chi B & Qulncy 4s
BOOO .... 04
6000 .... 05
10000 .... 04
10000 .... 04
1000 .... 94.
14000 .... 04
Chi & Great W 4s
looo .... s:
Chi M & St P 3H
1000 .... 61
C M A SfP gm 4
tooo .... 13
C M & St P cv s
2000 .... 18.
10000 . ) 13
6000 .. 13
1000 .... 13
1000 .... 13
C M a St P cv 5s
6000 .... 12
1000 .... 12
1000 .... 12
sooo .... ra
1000 .... 12
Chi M & St P 4 "25
8000 .... 11
Chi & N V 3s of T
1000 .... 01
1000 .... 81
Chi & N West am
ISOOO .,.. 18 ,
Chi It I & Pao fd
1000
2000
2000
8000
2000
oooo
2000
Chi It &
2000
8000
Chi & W Ind 4s
ISOOO BS
Ch.Ho Copper 6
1000' ,. ... 83
5000 . .. . 54
BOOO .... 83
200 .... 84
1000 .... 88
10040 .... 34
10000 .... S3
2000 .... 83
0000 .... 83
City of Bordeaux (s
SOOO .... 02
SOOO .... 02
City of Lyons s
4000 .... 02
City of Mar s
4000 . ,., 02
100 ,.., 02
2000 .... 02
Cof NV 4eof G
3000 .... 01 '
City of Paris Cs
1808 .... 8 C
1000 .... 05
Colo Indust Co Ba
1000 .... 15
Col ft Bo Ry 4s
1000 .... 82
Con Oas Co cv
100 a.... 00
oooo ..,. oe
4000 . ..'. 90
30000 .... 09
Corn1"?. HCo 5s 31
8300 ....190
Den A R Grand 4a
1009 ....
'3000 .... 3
1000 .... 63
10000 .... 63
Detroit Tunnel 4s
1000 .... 15
Det Unt Rys 4 Ha
2000 .... 10
Dom of Canada ft
SOOO .... 01
10000 .... 91
10000 .... 91
Dom of Canada 2(
1000 .... 02
Dom of Canada '11
1000 .... 03
E T Vlr & Oa en
BOOO '. ... 01
Erie General Lien
2000 .... 4B
2000 .... 45
2000 .... 45
3000 .... 45
Erie R R cv B
1000 .... 41
2000 .... 40
Erin R R CV D
20000 .... 45
1000 .... 41
2S00O .... 48
2B000 .... 45
Erie RR 4s
10000 .... Bl
Erie It I Fi Id
4000 .... 81
Genl Electric 3Hs
2000 .... 11
Great North Ry lot
1000. .... 82
2000 .... 82 -
H&vanati Eleo Ca
1000 .... 84 '
Hud & Man fd
1000 .... 88
2000 .... B4
6000 .... 84
Hud & Man In
looo .... 12
SOOO .... 12
Hud & Man 4 Us
BOOO .... 11
III Cent 4s of 53
SOOO .... 10
111 Central Ca
looo .... 03
2000 .... 03
Im J Gov Is eng sta
8000 .... 80
Imp Jfap Gvt 2nd gs'
looo ...i 80
8000 .... 80
12000 .... 80
2000 .... 81
Indiana Stoel Co Es
BOOO .... 04
2000 .... 04
lnt Mer Marine Cs
1000 .... OS
10000 .... 04
tOOO .... 04
2000 .... 04
lnt Met ct 4 He
6000 .,.. 20
lnt Met 4s
N T N H & Hart 6a
1000 .... 15
N Y Rwys Es
2000 .... 1
11000 .... 1
10000 ..,. 1
0000 .... 1
NY State Ry 4H
1000 .... 50
N Y Tel Co 4V4s
10000 .... 84
N Y Telephones 6s
6000 .... 08
3000 .... 08
4000 .... 08
1000 .... 08
N Y W C r B 4Hs
BOOO .... 43
12000 .... 43
Ore Wash RR Co &
iv'av Co 4s
SOOO .... 11
Pacific Tel & Tel Es
2000 .... 88
Penna RR 4s '21
3000 A.. 08
Penna R R gm 4 "
1000 .... 82
2000 .... 82
1000 .... 82
Penna R R Ca
loooo .... 02
1000O .... 92
4000 .... 02
Pere Marquette Es
2000 .... 85
1000 .... 84
P S Corp of N J Ba
300O .... 60
1000 .... 60
4000 .... 80
Read Co J C col 4s
2000 .... 10
8000 .... 10
Reading 4s
TS000 .... 81
Rp of C B Es 1904
4000 .... 02
10000 .... 02
Rep Iron &. 3 Co Es
2000 ..., 04
R I Ark a. L 4u
8000 .... 63
10000 .... 63
Seab'd -Air Line a
1000 i... 44
Seaboard Air L fd
1000 .... 48
Seab'd A L sta 4s
5000 .... 63.
Southern Rwys '4s
2000 .... 50
St P Mln & M 4 Vis
1000 .... 92
efien B,U
.www .... w7
Texas Co ts
6000 ....104
SOOO ....103
Tex & Pac Ry 1st
2000 .... 84
Third Ave Ry aj
2000 .... 28
3000 .... 28
1000 .... 28
1000 .... 28
BOOO .... 28
Third Ave Ry 4a
8000 .... 40
SOOO ... 40
Trt C R & L Co Es
3000 .... 02
v jo of aa&t'ti
200O
2000
SOOO
6080
1000
2000
20000
6000
20
20
20
20
20 .
20
20
20
lnt Rap Trans fd
1BO0O
0000
ISOOO
10000
4000
,26000
6000
4000
11000
6000
1000
3000
SOOO
10000
10000
SOOO
10000
looo
4000
SOOO
2000
11000
80
50
80
50
61
60
S0
80
60
60
51
80
80
60
B0-
80
80
80
60
60
80
60
1000
1000
I 2000
4000
4000
South
2000
j000
4000
03
83
63
63
Railways Cs
86
86
86
Southern Pacific fd
2000 ..., 11
4000 .... 11
1000 .... 11
Southern Pacific tn
3000 .... 10
South Pao cv 4s
sooo .... 81
23000 I... 81
8000 .... 81
8800 ....'81
30000 .... 81
8000 81 h
South Pac cv Es
1000
0000
10000
10000
SOOO
SOOO
2B000
SOOO
SOOO
1000
..101
..101
..101
. .101
..101
..101
..101
..101
..101
.102
St L & I M So Ry 4s
66
6
61
66
61 ".
61
Pacific 4s
19
10
Iowa Central 4 s
1000 .... 41
1000 .... 43
K C Ft E & M 4s
BOOO .... 68
3000 ., 6S
KCc Southern Es
BOOO .... 88
K City Term Ry 4 s
2000 .... 13
Lack Steel C of 2.
1000 .... 05
Lacks Steel C of 60
1000 .... 03
1000 .... 98
L S & U 3 4s '31
5000 .... 88
2000 .... 84
Lehigh Valley 6s
SOOO ....100,
1000 ....100
Liggett &,Myers 7s
1000 ....110
Louis & Nash 4s
2000 .... 82
'1000 .... 82
1000 .... 82
4080 .... 82
4800 .... 32
2000 .... 34
6000 .... 84'
Man K Rwy Sta, 4s
1060 .... 80
1000 .... 58
1000 .... 88
Manhattan RR 4s
1000 .... S6
2000 .... 61
Mid Steel Corp 6s
' 2000 83
4000 .... 85
1000 .... 88 .
1000 .... 85
Mil '& North Gas 4s
2000 .... 81
Mln & St Louis 4s
1000 .... 30
1000 .... 39
M Kan & Tex 4a
' SOOO .... 63
1000 .... 63
Mo Pacific gm 4s
1060 .... 66
10080 .... 86
10000 .,.. 61
Mont Power Co Bs
4000 .... 81
NoV West.dlv 4s
1000 18
3000 .... 18
Nor a Western 4s
3000 .... 13
Nor & West cv 6s
0000 ....104 .
1000 ....105
Northern.Paelflc 3
4000 .... 88
Northern Pacific 4s
4080 .... 11
BOOO .... 11
40000 .... 11
SOOO ....' 11
North Pacific 6s
1000 .... 16
N O Tex & Me 5s
AAA K,
3000. .... 53
NY C & H R 3V4s
2000 .... 68
1000 .... 69
1000 .... 10 .
SOOO .... 10
NYC H RRRt4Vi
2000 . ... . 16
ISOOO''.,.. 18
1000O .... 15
N Y C & HR RR S
1000 .... 93
8060 .... 93
2000 .... 93
SOOO .... 98
10900 .... 93
1000 .... 03
1060 .... 93.
8000 .... 03
2000 .... 93
1000 .... 93
N Y C ft H R RR
reg. 4s .
looo .... oi
NY NH&HcvSVi
10080 .... 48
NY N H 4 H 4s '65
3000 .... 03
8000
2000 .
St L .
2000 .
2000 .
2000 .
3000 ,
3000 .
16
... 16
S F aj
,..60
...60
. .. 80 .
...80
...60
St L & ,San P In
33000
10000
1200O
4000
C000
1000
4000
sooo
St L ft
1000
4000
3000
6000
2000
4000
10000
11000
St & San
3000
10000
1000
1000
2000
St L & S W R R en
3000 .... St
SOOO .... 51
St L ft S Went 5s
1000 .... 69
1000 .... 80
1000 ...'. B0
44
44
44
43
44
44.
44
43
San V A
86
86
86
56
86
36
66
86
F Ser B
61
61
1
61
61
3000 ....
2000 ....
13000 ....
6000 ....
1000 ....
1000 ....
4000 ....
1000 ....
18000 ....
80000 ....
3000 ....
U K of G
rets of 23
6000 ....
1000 ....
10O00 ....
50O00 ....
SOOO ....
U K of G
rots of 29
6000 ....
10000 ....
6000 ....
6000 ....
1000 ....
4000 ....
4000 ....
25000 ....
SOOO' . , . ,
2000 ....
6000 ....
BOOO ....
6000
0T
01 5
01
01
01
91
01
91
91 6
91
91
B & :
91
91
01
01
91
B ft
06
06
06
06
08
06
06
08
06
06
06
06
06
DKofGUArJi
1000
1000
4000
6000
6000
1000
26000
1000
3000
1000
10000
48000
2000
16000
01
01
01
01
01
01
01
00
01
00
01
00
01
00
Union Pacific td
14000 .... 17
4000 .... 11
Union Pacific 4s
-
i
. , ' $1,400,000
First Mortgage 6 Sinking Fund Ten-Year Gold Bonds
SOUTHEAST CORNER 16TH AND LOCUST STREETS
PHILADELPHIA
Ki,
Dated September 1, 1919
Due September 1, 1929
GRANTING ANNUITIES, TRUSTEE .
PENNSYLVANIA COMPANY FOR INSURANCES ON LIVES AND
I.
Interest payable March 1st and September 1st '
Redeemable as a whole, or In part for the sinking fund at 102'l and interest
85
35
84
84
84
S F eq
25
2000
2000 ...
8Q0O ...
1000 ...
10000 ...
U R R of
ct 4s
4000 ...
U S Rubber Ss
1000 .... 65
40Q0 .... 83
1000 .... 85
1000 .... 85
2000 .... 88
U S of Mexico Es
10000 .... 43
U S Steel Es
1000 ..
looo ..
6000 ..
looo ..
18000 . .
1000 ..
2000 ..
4000,,..
6000 ..
98
00
08
08
08
00
08
08
09
Utah P ft L Co Bs
4000 .... 84
Vlr Car Chem Co If
'20000 .... 94
Vlr Railway Es
2000 .... 85
1000 .... 38
2000 .., 84
Wabash RR Co 1st
1000 .... 89
Wabash RR Co 2nd
1000 ... 19
Western Electric Es
5000 .... 01
West Maryland 4 s
1000 .... 85 I
1000 .... 65
West N Y ft Pa 1st
6000 .... 93
West Pacific RR 1st
8000 .... 81
2000 .... 81
1000O .... 82
West Shore R R 4s
2000 .... 12
2000 .... 12
1000 .... 13
Wilson Co CV
1000 ... 98
10000 .... 06
SOOO .... 96
5000 .... 96
Wilson Co first
1000 .... 98
Lib-Bonds 3-As. .
iAt rionds 1st 4S,
Lib Bonds 2d 4s.
Lib Bonds 1st 4s 04.04
Lib Bonds 2d 4Us 03.00
Lib Bonds 3d 4Hs 04.40
Lib Bonrl4th 4Vs 02 OR
Victory Notes 34 s flfi.'JS
Victory Note 4r,s 00.32
2:30
ioo!8& 10o3S lfl&o".
04.40 94.30 04.30
02.40 02.30 02.40
04.50 01.64
02.00 02.02
04.30 04.34
02.88 02.0S
00.20 ' 00.2S
00.26 00.20
MONEY-LENDING RATES
NEW YORK Money on call, both
Lmiied collateral and all industrial col
lateral, was quoted today at 1Q per
cent for lending and renewing.
PHIL.4DELPHlAl-Call,6per cent;
time, 6 per cent : commercial .paper,
three to sir months, 5?i per cent, and
six months, 5fl per cejt.
LONDON Money is quoted at 4
per cent.' Discount rates, short and
three month bills, 6 per cent.
BANK CLEArTnGS "
BtaV elurlrss todaV eomDra with tor-respor-clrs
!iy last two years:
. 1819 101K mil
BostSh .M,2.H2 I84.K20.1ST 4T.884;e03
F1L. ,WUi. -V,UV.-.UH .R..D1.0I1 ......
N. Y 026.847.511 403 012.147 Sfli 7Ti n
Phil. . 85,508,98! 81170.341 58.270,839
i;nic4ro, jut.Dat.oua votu,'A,&2
For full particulars regarding this issue, me refer lo copies of letters from Mr. Frederick Webber, Architect and
Engineer, Philadelphia, and our' counsel, Messrs. Dickson, Beiiler & McCouch, Philadelphia, from which We sum
marize' the following: ..j
In the opinion of our Counsel these bonds are a Iegml investment for Trust
Funds in Pennsylvania
ESSENTIAL FACTS CONCERNING THIS ISSUE " '
They are secured by a closed first mortgage on real estate and building,
... '. admirably and advantageously situated.
,'"' ' " They are followed by a second mortgage of $600,000. cs
There is a sinking Fund beginning January 1, 1921, that will retire $510,000
of these bonds before maturity.
Estimated net earnings over 2'j-times interest on these bonds and over l'j
.. times both interest and average sinking fund of these bonds. '
This mortgage has been insured as a first lien on the real estate described
1 "' therein by the Real Estate Title, Insurance & Trust Co., and a bond for
i z ; completion and against liens in the sum of $700,000 has been furnished by
" ; ' Globe Indemnity Co.
' .The building will be a modern fire-proof fifteen story apartment house with
two-floor basement, which it is planned to have completed for occupancy by
October 1st, 1920.
'" Having sold a large majority of the bonds of this issue, we offer the unsold balance, subject to prior sale
-, PKICE ON APPLICATION
t-ft j
i rt l
GRAHAM, PARSONS & CO.
435 CHESTNUT STREET
PHILADELPHIA. ""
H. NEWBOLD'S SON & CO.
511 CHESTNUT STREET
PHILADELPHIA
Thu 'abov information and statistic have bmmn obtain d from ourc tAerr we dttm rcliabte, and
, guaranteed, are accepted by um a correct.
while not.
Reserve Banks' Discount Rate
Official discount rates at the twelve
Federal Reserve banks were as followx :
(The first column gives rates for all
periods up 'to and Including a fifteen
day maturity; the second for a period
Ot sixteen to ninety days. The third
and fourth columns give rates for re
discounts of collateral loans secured by
government bonds or notes.)
Rostan t
Nsw York i
Philadelphia,
Richmond ......
Clwelsnc
Atlima, ....
Rhlciro
At. Louis., , .
Minneapolis ,,.,
Kansas City..;.
DU ,v
Ban Francisco,,
18 to 90
IS cays esys
Gov't paprr
IS to 1)0
15 days days
i X i il
44 41 4. 4V4
4U 44 4 iu
4H 41 4 4U
4 s 0H 4 3
4H 4K95 4 2
4U 8 , 3
4W 4HI9S 4 , 4
43 B 4Vi 43
Further Advances In Bar Silver
Commercial bar silver moved up to
another high mark today in New York
when sales were made at $1.27 -an
ounre. This is an advance of Uc over
yesterday's price, The quotation in
London was TlHd, fain of d and
a ntw biea level. '
. $1,100,000
Keystone Telephone Company
of Philadelphia
Equipment and First Mortgage Collateral
Ten Year Sinking Fund 6 Gold Bonds
Dated Novemba: 1, 1919 Due November 1, 1929
Interest payable May 1st and November 1st
Authorized $1,600,000 " Outstanding $1,100,000
FIDELITY TRUST COMPANY, Philadelphia, TRUSTEE
Free of Pennsylvania State Tax. The Company contracts to pay the Normal
Federal Income Tax' in so far as it may be legal for the Company to assume it
The Keystone Telephone Company has been iri successful operation in Philadel
phia for 18 years. It has 43,689 telephones in service and last year carried more than
70,000,000 messages of an almost wholly business nature.
The proceeds of these bonds will be used to install an Automatic Telephone
System which will give Philadelphia the most efficient and quickest service obtainable.
This has been demonstrated in a large number of communities, and it is estimated
that the automatic telephone will effect operating economies which will pay the entire
cost of its installation within twelve years. f
This issue of bonds will be secured by deposit with the Trustee of (1) $966,000
Equipment Bonds which will cover the new automatic switchboards under an equip
ment lease by the terms of which the Company pays as rental $100,000 annually begin
ning 1922, (We quote from a letter from our Counsel as follows: "the security so
afforded is of like character, and in our opinion is of equal validity, to that enjoyed by
the holders of equipment trust certificates issued under what is generally known as an
Equipment Trust under the Philadelphia Plan") ; and (2) by $1,500,000 Keystone Tele
phone Company First Mortgage Bonds, due July 1, 1935, which have been issued for
actual expenditures on the property.
A Sinking Fund beginning November 1st, 1922, is provided for in the Indenture
which will retire a total of $1,050,000 of the $1,600,000 authorized prior to maturity.
AH legal matters in connection with thie tat( have heen passed upon by our counsel, Metirs,
Townsend, Elliot & Muitson and Thomas Raeburn White, Esq., for the bankers, and James Colfins
Jones, Esq., for the Company.
The greater j&rt of this issue having been sold, we offer the re
maining balance at 97 and accrued interest, to net over 6.40.
Temporary certificates will be delivered pending the engravins of definitive certificates, zs,
ar.d when issued and received by US'.
REILLY, BROCK & CO,
Bankers
306 Chestnut St.
Philadelphia
HARPER &? TURNER
Investment Bankers
Stock Exchange Building
Philadelphia
We do wf guarantee the statements and figures presented herein, but they are taken
from sources vhieh ue believe to be accurate
Just Out!
Broker's
Hand Book
November Number of
ourfree price guide, con
taining high and low prices
for last month and year;
par, capital, dividend rates,
etc., for more than 800 se
curities traded in In the
New York Curb Market,
and the Boston, Toronto,
San Francisco, Salt Lke
and Los Angeles ex
changes. Invaluable' for
investors and traders. Edi
tion limited. Memo, pages,
commission rates, etc
Ask for No. T.U.-650
JONES & BAKER
SECUIUTIES
Widener Bldg., Philadelphia
Plumes Bill, Walnut 6065
Keystone, Race 2290
Direct Private Wires
Vtv Vorlt Dttto'.t P-raijrti
Chiciro ( Biluzore Bocoo
I BUILDERS' I
I MEJ.WORK j
? Doors, Sash, Moulding
Columns, Etc
HANEY-WHITE COt,
gTHE
Beidler & Bookmyer
General
INSURANCE
BROKERS
424 Walnut Street
New York Office
95 William Street
T
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1 INSURANCE
AOAINET
Riot Civil Commotion
Caomarclc! Union Assurac
Co. nd H
S Qun Insurance Co. of S
E Arnarica -
WILLTAMS & WALTON
416-420 Walnut St., Phllc.
SmmiiiiiiiiiiKiiimiiiiiiiiiiiiiiiniiiiir,
1317
1919
Fire
Association
OF PHILADELPHIA
N, W. Cor. 4th & WalnoY
lias fflvsn lu policy holder! solid
Indemnity for mora than on
hundrsd years and ha never
been to stronr flnsnolsllv sul cow.
JrUvs you a, policy In this old
and
reilahla ComnanvT
CHARTER PERPETUAL
I
JSy.v..
17tb and Glenwood Av.
Ofdee & Warehouse
2let cad Glemvood Ave if
Lists From Plans and
Eitimalea Giceu
.r..v.v.v.v.T..'.v.,.v.v.'.w.,.v
Kansas CiJy Terminal Ry.
1st 4s,' I960
FULLY GUARANTEED
by '12 Trunk Line Companls
Price on Application
SDWAW) V. KAflE&CQ.
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