mWOHMMMiMIVMiH
BlKtail
-. -'-- ' Hi.iiPniivin-i IIISHIH nil I WfHHrnipiliri
DE0EMBER18, 10i0
26
EVENING- PUBLIC LEDGEJl-
-PHIIADELPHIA, THURSDAT,
- -
w.
?'
'."V
tut? jS r
AT ' '
r r
Tv
Philadelphia Markets
GRAIN AND FLOUR
WHEAT receipts. 4S.B bushels Traas
was autet and there wiui no change In rrlc.
Quotations c r lots In export elevator,
government standard Inspection standard
rrlMs No. I red winter, 12 COs No. 1
nnrthsrn sprlnr 2 89i No. 1 hard winter
2.39i No 1 red winter, carllrky, J2 87.
No 1 red. muttr. 12 an. No 1 red. uar
tlckr and smutty. 12 !U Unlteil Rtate.i
Oram Corporation s purchases of wheat are
haktd on the. followlnc schedule of discounts
No, 3 wheat, 80 under No. li No. a nheat,
ft tinder No 1! No. 4 wheat, loo under
No, 1: No, B whaat, Ho under No, 1 For
all wheat otherwise, cenformlne to tho sped-
fleallona of No B.or better but deficient
In teat weltht the. Blaeount from the No 3
price will be So per bushel for eath .one
pound deficiency In test weight Wheat
jtradlnifbelow No, o for reasons other than
cienctency
mffnrnlna tn thi 4iir-M nf smut, hut In i tH& 13 ftO
no cae lees than 2c pr bushel under the i do. patent
correipondln regular trade.
COItN necelpta. 070 bunhels The mir
ket ruled firm under llnht offerings, but trade
woa quiet. We nuolo old No 2 jellow In
car lota for local trade at Jl 73 Wl 75 on
pot, and new No 3 yellow at Jt.fiOSM 03
OATS- rtecelpta, .'0,928 busheli There
waa Utile trading, but prlcea ruled ateady
under light nffrln I'nr lot; na to loca
tlon. No. 2 white, Oi(r04Hc. No 3 white,
02HOIil-! No white. nititnlHc
l'lXlUIl necelpte. 1.707.M6 rounds tn
sacks. Market ruled firm In tjmpathy with
the west, but trade was quiet. Quotations
Per 100 lbs packed In 140 lb, jute aackn
Fott winter straltht western, SlOWln BO,
In test weights will he bought on I do, do. nearby IIOOIOSS, lmrd winter
Smutty wheat will be discounted straight lia.sqOia. lo do, short patent,
BfillllN .HOI. lirni, ,u,IOWIU ...
Sia nOSMii do. short patent.
tt4.2'i918i do spring and rlty mills, pat.
mt faticv brands, llftpvin.3.1.
11YI3 KI.OIJH was ciulct nnd steady Wo
quots at 18.1)300 23 per bbl In sacks, as
to quality
PROVISIONS
There waa light Jobbing; trade and nn
Important clianso In prices The fol
lowing were tho quotations' Tleef, In setn
smoked nnd alr-drled B3c. beef knuckles
and tenders, smoked and alr-drlivl, non,
pork family B4o hntns, 8 P, cured, loose,
isiir .-ft mkfimM
2720oi fo. skinned, looito ?4&28o, do. do
smoKea, 2(jy28c, hams, boiled, boneless,
4!o, plcnlo shoulders Pi P cured, loose,
2.101 do smoked SOci bellies In pickle, loos
27ci breakfast bacon, 83ci lard. 27c,
REFINED SUGARS
Supplies wore email and thd market waa
unchanged on ft basis of 0c for fine sranu
lated
Finished Products:
Raw Materials:
THE BRIDGE THAT SPANS
MIGHTY GAPS OF COMMERCE
WHE'N that fragile thing, the bank check, is
viewed not as an inanimate piece of paper, but
as the link that brings together the buyer and the seller
and sums up all the work between raw material and
finished product, banking takes on a new meaning.
Wl
rhen the check or draft becomes the medium uniting the
wool prowcr of Montana or the cotton grower of Texas
with the Philadelphia manufacturer and the manufacturer with
the exporter to foreign lands, it is a vital and mighty instrument,
capable of bringing the ends of the earth together.
WE try to train our employees to see with the eyes of the imagination
the significance of the thousands of checks and drafts that go through
the bank each day and the important part these instruments play in the
world trad'e. An employe who comprehends the scope of a great bank's
business can meet the needs of customers intelligently and communicate
to them the spirit of the institution.
THE
PHILADELPHIA
NATIONAL
BANK
4,2.1 CHESTNUT STREET
$850,000
Chalmers Knitting Company
("Porosknit" Underwear)
Five-Year 6 Sinking Fund Gold Notes
Dated December 1, 1919 Due December 1, 1924
The Company agrees to pay any Federal Normal Income Ta now or liereaflcr deduct
ible at the source to an amount not exceeding 2, to far as it lawfully may do bo.
CAPITALIZATION
Authorized
(Upon Completion of Present Financing) and Outstanding
Five-Year 6 Sinking Fund Gold Notes (this issue) $850,000
5 Cumulative First Preferred Stock .- 390,000
8 Cumulative Second Preferred Stock 250,00p
Common Stock 400,000
The following information is summarized from a Idler signed by
D. W. Chalmers, President:
The Chalmers Knitting Company is one of the largest manufacturers of under
wear in the United States. Its brands arc popular and well known and include
"Porosknit," "Inrox" and "Knico."
The Company has no'mortgagc debt and the Note agreement will provide that
while any of these Notes arc outstanding, it will not mortgage nor pledge any of
its plants or equipment; and will not issue, guarantee nor endorse any bonds,
debentures, long time notes or similar securities, except "purchase money" obliga
tions. On the basis of sound going values as found by the American Appraisal Com
pany and after giving effect to present financing, assets as of July 12, 1919 (not
including any valuation for patents, trademarks or good will), after deducting all
liabilities except these Notes, were as follows:
Total Assets $4,158,775 equal to 489 of Notes
Net Assets (after deducting Notes) 3,308,775 " " 389 " "
Total Quick Assets ,. 2,354,790 " "277" "
Net Quick Assets (after deducting Notes) 1,504,790 " " 177 " "
The Company covenants to maintain during the life of these Notes, net quick
assets equal at least to 125-of the Notes outstanding.
EARNINGS '
After deducting taxes and liberal allowances for depreciation, average annual
net profits have been as follows:
For the last six years - - $207,474 or more than four times the annual
interest charges on these notes.
For the last three years - $279,066 or more than five times the interest
on the notes.
For-six months ended July 1, 1919, $524,974 or more than ten times the annual
interest
SINKING FUND
As a Sinking Fund the Company covenants to retire annually the following
amounts: $75,000 in principal amount of said Notes, on or before December 1,
1920; $100,000 on or before December 1, 1921; $125,000 on or before December 1,
1922 and $150,000 on or before December 1, 1923, thus paying off at least $450,000,
or over 50 of the entire Issue before maturity.
The business has shown remarkable growth:
Sale3 Sales
Yean ending Dec. 31, 1909, $1,150,483 Year ending Dec: 31, 1914, $1,586,559
" " 1910, 1,345,751 1915, 1,637,137
" ' 1911, 1,516,154 ' ' 1916, 2,049,404
" " 1912, 1,339,461 " ". " " 1917, 2,253,248
" " " 1913, 1,449,250 " " " " 1918, -5,380,801
Price 96 and Interest, to Yield About 7
Hemphill, Noyes & Co.
Franklin Bank Bldg. ' Philadelphia
New York Boston Albany
37 Wall St. 35 Congress St. Hotel Ten Eyck
Buffalo Baltimore ' ' Scranfon Syracuse
696 Elllcott Square 624 Equitable Bldg. 501 Peoples Bank Bldg. Seitz Bldg.
As all of ih$ above notes have been sold, this advertisement appears as a matter of record only
DAIRY PRODUCTS
IJUTTLIi Demand watt only mode r At
hut receipts were 'Isht nnd prlcea rultd
Rteartv Tho quotation. Trosli, polld-pncked
creamer, fancy, lilch-scorlnff soods, 74Utff
tunc, pviraq 73Yfcr: oxirn nrnTS, nanyilc
flists. fU'0(!ic; econd. .UJ0(11o! cold Mor
ale creamer an to quality u7'$ft,(t sct
creamery, rholcn to fincy. 7.V4 frWfccs fair
in i goon uittWTSHc, print Jobbing al HItf
8i" for fancy umi at ul&Mc for fnlr to
clioirc
K(JS Tlio market vns nulot. but doulra
bio rrnjll and tltolco cold Morns Btock wnn
tn KinaM eurply and llrm Inn quota
Hon werf an follow Kren case, near
by (Irate li'-i ptr rntr, nearby current ru
celptn, $23 40, western extra NthIs, tM
tlrstc S2J.G0tti&2.1 40. nearby and western
nrcond $20 lOOlM.flf), cold ntnrfKn cbks, an
lo quality $1.1.8(16910 CO Inferior lota lower,
fniil V HftleptPil fOP Inlihlntr nt (infill n'r nnr
tlOfM
ClinCSi: Tho market was quiet and
without Important chance. Quotations
New York whole-milk flat Itpld. futiry,
31. held fair to gnod QJ&SJc frenli-mado,
bMl 3J03iii, do fHlr to t,oo.l nUJi.HVii
iWlBconiln, wholc-mltk Hats HrUl fncy,
3J,6C.Uc held. fHlr to icot d 314 (3Jc
POULTRY
IjIVE Orfcrlnaa wero fairly liberal and
. f lie market waa qulpt and unchanged. Only
a mi u 1 1 proportion of ttu tiuppiv khh nT Hu
ilMlrnble sized stock We quote. Towls fine
fat welchlns 5 lbs and over apUce, $$
I .H towi tnpillum al7P. eooil itualllv 2S6
I 30 do. poor 22(o' 20c brolline chickens, fancv
soft-mrHted. welchlnc HAtGii' tmunda aiileit
30i'J I0 Pllnff i hlikeni. meraco soft meal
ed 2Mi30r do Inferior. 2.1200, old most
em 21 22c duck!, while, Pekin, 32ffi3tc.
do. Indlnn Ttunner, USfcPJOc. do. Munrovy
22(f?2.V. tfresD. 24200. lurkeia 43e4Sc.
plgrone uld per pair. 3J&3!kc, do. yountr
por pair. 284D30C Kulneas, younK, per pair -Tvelchlnc
2 pounds and uor apiece, plump
12 I.'j4?2 20 welchlne Hi fal K rounds
aplere M 7."ifa2, welstlilne iiwnj poundi
aplfce $1 2&W1 no guineas, old. per pair i
$1 231 30
PUnHSKD Turkejs were scares and
again rilirli r cither poultry was In fair
demand and tlrui e (juotp Turkey
nearb fancx ."3ij0c do, do fair to pond
fi'MP.VJc do western, sprlns fancv r24(Ti:ii .
do, do fiMr to good 4SW,.V1( do. old tonis
47c fowU froHli-ltilted div picked In boxes
Melchlna 4i pounds ,urd over aplecft. 30e
nctKliln;; 4 pounds 33c. v lhlnc 3i poundf
, nifajf srnailpi sIzpf. "tvz'c Towls rresii
I hilled In batrels drj -picked welKhlm' l' '
"pounds nnd oer apiece 33c wclRhlnpr I
pounds 31 welch Inir 3li pounds 2fj$i .ill
piualh r ic 2 life 27c. old roosters, di
plcl ed . il broilers Jersej drv-packed 43
ff?4Sr do ordinary nearby dr packed ll'tdt
42r. broilers western dr rucked weighing
I 111(2 poundh apleio. 3Si?fi40c. luatjtlnf.
I chickens western drv pat ked In barrelb-
1 welRliltiff I pounds and ner aoleee 330d3lc ,
J welchtntr 3la pounds apiece, 3d ft) 32c weth
lncr 2W Ca3 pounds apiece 27 (2 20c, western
i corn fed chickens 12 n box. 17 pounds and J
pounds to doi'en nr pound 4110 14e 23 to
30 pounds tn doen per pound 3ri(v3ili- 31
tn 1.0 jiounds lo d pn plt pound, 3134
1 37 to 12 pounds doren per pound 3-y
. 3 le 41 to 17 founds to doen ner pound
3242 34c IS pounds and oer to do7en, 33$
30 duck, western fancv .avtA ic. epph
wpKlern funcv 3u32c do do, fair to sood
23 27c
FRESH FRUITS
LlttU dolnp beenuse of the extremft cold
Wo qtiot Apples per barrel, na to qual
ity. J I (??0 . do per box, JJ03 73. cran
berries pci lwrrel lnW)t do. average Rood,
Pr trate J24f2 "i0 runlterrlcs etrn lancv
larce per irate $2 7.13 50, lemons per
lor 1 t'df i or inset ( allf nor box, tl H
3: do. Fl.i., per box SI O'fJ tn. Tan
ccrlnes ria , per H-bot $2 153 Grape
fruit, VU . per bo-c $1.703
VEGETABLES
Cold wrather f'ieckd trade "We nuoi--"WhUi
pntatoeq, Tenna per cwt J3 3."ifl
3iM do V V per cwt $3 1003 30. do
31d 7IfH)lerfl per cwt. $2 7303 10, aweet
potatoes Southern, No. 1, per barret, $1 23
(Z? i 73 do No 2 per barrel 52 7303 do
per hamper $1.101 00 Jersey, ptr hatsket
Jl 151 40, cabbiere. N Y Danish, per
tlon, $33(3 Olc onions No 1 $335 GO, do
No 2 and "plcklers " $2.75.
Investors
Desiring
Actively to
Participate
in the management of a
going concern will And of
value tho services of our
Business Trading De
partment. We have in
our files inquiries from
established industrials
which. require additional
working capital, or capi
tal for expansion, and
which offer opportunity
for investment with ac
tive participation in the
management if desired.
Business Trading
Department
Elkins, Morris & Co.
Investment Hankers
Land Title Bldg., 1'hila.
Service and Stability
LONDON STOCK MARKET
Sentiment In Oils Cheerful and Prices
Score Further Galno
Tendon. Doc IS. Alterations in sc
onritios on the stock rxolinnsc weip
narrow today, nnd n holiday feolins
pre ailed. Generally the markets were
Meadv. Sentiment in the oil Kroui
remained cheerful nnd prices scored
further gains.- Shell Transport was
10 n-lfi nnd Mcxicnn Tingle 14 fi-lG.
Home lails were in demand anil
moved upward. Grand Trunks -cie
flabby, but there was purchasing of
the shares of Argentine roads by in
vestors.
Perhaps You
Are the One
who would appreciate a co
operative hanking service
that has already proven its
worth.
'Die advice wc offer in con
junction with our banking
facilities very often leads
to our being consulted as
regularly as a partner.
W e particularly solicit
business accounts and
offer all accommodations
consistent with conserva
thc banking principles.
We Invite Your Inquiry
Integrity
Trust Company
Fourth and Green Streets
L
Capital $500,000
Surplus & Profit . . . ft, 660,000
Bank of England Statement
1mdnu. Dec 18. The weekly stale
incut of the I'.ank of England show
the following changes: Tolnl rrserw
decreased 1 S77.000. circulation in
cieased 1,710.000, bullion decreased
1(!O.R01, oilier securities dicieased
f-1" 000. public deposits inci cased
1, "04 000, other deposits din cased
12 "'si.OOO. notes reserve decreased
1 .71i.'S,000. goeinment sccniities do
ci cased 0.010.000. The pioportion nf
the bank's reserve to liability this week
is KS It's per cent; last wcekit was 1!.(" I
per pmt
LIBERTY BONDS
All Issues
Bought and Sold
550 $100 $500 $1000
Sraham, Parsons Cq,
435 Chcjthut Street
Philadelphia
Multiply Your Income
Tou can make a blcerr mircesi of
jour rOKKlON and DOMESTIC HU8I
NlJtaS by moro dtflnlte Information
relative lo the fundamentals and nrl
elDles of nuslness Our lares alaff of
llUBlnei Kxperls are prepared to help
you to solve the knotty problem, of our
liulnesp Courseu of study for your
ijre Mpjo In.
Banking and Finance
Business Letter Writing
Foreign and Domestic
Traflic
Commercial Spanish
Business Administration '
Ilooklets on request nnd special classes.
I or interview write clvlus telephone
iiunilier and poslllon or (all at
LA SALLE EXTENSION
UNIVERSITY
lE.ibtcrn (imre
608 Chestnut St. Phila.
Vlllnnt ,-3t
Open l,rnltiK4
iljitii
ar
NEW ISSUE , ' -
$1,500,000
Castle Kid Co, Inc.
8 Cumulative Sinking Fund Preferred Stock
To be authorized and outstanding, $1,500,000. Par value $100. Preferred as to assets up to
$112, and accrued dividends (the $l2per share premium being payable only out of surplus'
or net profits). Dividends payable Jan. I, Apr. I, July I, Oct, I. Callable on 30 ,days
notice at $112 and accrued dividends.
I
We summarize from letter of Jacob Rossbach, '
President of Castle Kid Co., as follows: ' i
CoinpfUiy manufactures kid and shoe upper leather and is considered
one of the most successful of its kind in the United States. Has
developed a profitable specialty a fine kid finish leather made
from cow hides. Plant, located in Camden, N. J covers 180,662
sq. ft. floor space; employs 650; leather capacity, 1,000,000
sq. ft. per month. Present rate of sales, $5,000,000 annually.
88Gt8 (ItnttH fin Mfstrl. Tmif A Erajfj audited flturta, giving effect ro rij fintneing ,) Net quick
assets equal $1 56, and net total assets $184 per share this issue.
Annual Sinking Fund payments equal to 15 of net earnings,
but not less than $75,000, after dividend on this issue, are to be
used to purchase and redeem Preferred Stock.
Restrictions provide for maintenance of net current assets equal to
$140 per share, and that no mortgage or prior stock will be
created, other than purchase money mortgages for properties here
after acquired, without consent of 80 of the Preferred Stock.
It III CIV lllll QS (ajltrtaxta. AdjaifdlarlnltfttuhichuouldhmtbttneUmiiMtdbylhhlinmncing)
Times dividend require
Yearly Average ment this Issue
1 Year ended Nov. 30, 1919 4.68
4 Year ended Nov. 30, 1919 2,61
8 Years ended Nov. 30, 1919 2.0B
$1,086,250 dividends paid on Common Stock since 1902.
When, as and if issued and received by us, subject to the
approval of our counsel.
100 and accrued dividend
LADENBURG, THALMANN & CO. MONTGOMERY & CO.
New York
Philadelphia New York Ch
icago
This Information and these statistics are not auarantecd, but
nate been obtained from sources ice ticllcte to be accurate-
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
16tS RfcAli 1WTA1I5 TRUST UI.UO.
lote.Ugate anil adjust uurtueihuip uod
corporation uciounttf. Also prsvara U. at.
Income fax Itturus.
We have for sale
United Gas Imp. 6s, 1919
West Penn. Rwy. 5s, 1931
Penna. Water & Power 5s; 1940
Empire Gas & Fuel 6s, 1926
Erie Lighting 5s, 1967
Particulars on Request
Carstairs & Co.
Member riillmlelplila anil
New ork Moik Kvchance
1419 Walnut Street
71 Broadway, N. Y.
b-jJ4! 1 js
Citizens Bank
(UR charter having been granted,
wc arc now in a position to
announce tiiat after extensive alter
ations to our building arc com-v
pleted,4hc Citizens Bank will open
for business about January 1, 1920.
OF PI OR KS
A. STi:iNKti:i.D. President
A. S. AUUUBACtI, Active Vice President
Vice I'rcaldcnta
S. SI.OWMSKY II. LArtGMAN
K. KI-Lia B. OST U DALSIMBK "
W. BODEK, Chairman of the Board of Dlreotot
22-24 South Third Street
i u
i,ir i4
READJUSTMENT
OF
Maxwell Motor Company, Inc.
s AND OF
Chalmers Motor Corporation
To the Holder of
MAXWELL MOTOR COMPANY, INC.:
First Preferred stock,
fctond Preferred stock,
t'ommon stoik,
CHALMERS MOTOR CORMPANY:
I'irat Morlsaso Hlx Ter Cent Tle Tear Gold Noli-
CHALMERS MOTOR CORPORATION: - '
Preferred slock, ,
Common Btotk.
and
To the Holders of Certificates of Deposit issued under the. Plan
and Agreement of Readjustment, dated August 30, 1919, for the
above mentioned securities.
Announcement is hereby made by the Committee as follows:
1. The following amounts of securities have been deposited under
the plan:
Sto'ck of Maxwell Motor Company, Inc. 66 per cent
Notes of Chalmers Motor Company . ' 11 per cent
Stock of Chalmers Motor Corporation 79 per cent.
2. The foregoing amounts of securities deposited, and particularly
tl'ic amount of notes of Chalmers 'Motor Company, are not in tho
judgment of the Committee sufficient to enable it 'to 'declare the
Plan operative.
3. The Committee has been unable to secure from the Bankers a
positive commitment for au extension of the time for the purchase
by the latter of the $10,000,000 of new Notes referred to in the
Plan, and the agreement between the Bankers and the Committee'
for the purchase of said Notes has therefore lapsed.
4. The time for the deposit of securities under the Plan is hereby
extended to and including JANUARY 31, 1920. If, prior to said
date, sufficient additional deposits are received, the Committee
will again endeavor to effect arrangements for the sale of the
$10,000,000 of, Notes of the New Company.
5. The Committee believes that the prompt carrying out of the
Plan is of the utmost importance to security holders, and thereforo
urges the prompt deposit of their securities.
Dated, New York, December 16, 1919.
ItAKKV IIRONMUt, Chulridan,
JAMKS C. IIBADV,
JOHN It. MOIIRON,
F.I.TON rAIlKH,
' jiii.kh h menu.
111'!. II rilAI.MF.K8.
J, UORACK IIAUUING.
r lonimiuer.
B HUGHES. Secretary,
8n Broadway, N. Y, City.
The Ideal Christmas Gift
Liberty Bonds
Bought, Sold and Quoted "
- Call, Phone or Write Liberty Bond Department
West &
Self. Sprucr 250
1417 CHESTNUT STREET '
i ..
Members ' ,
.f.A'Vf I1?1". JS"''"i Ktystont, tlaeu 2909
Philadelphia b(x.k ISxcbanft
Wa Always llav on Hand at List at lllsjh Jra4 Bonds
Correspondence Inrltad
I
RAFFIA
S500 bales tot Immediate delliery t I f
Jsew York for ons ton minimum order
from IS tta, Mr pound until Id els, this
for T.uiurr Basket Makers purposes,
Nnuiples.and prlcea on implication. Ber
nard nfs. H". ilurlhaldl. Marseille,
l.sUblWie.1 IKIS. Jh e fldr.Bulb
KCdj, Msf.tlllt, A, B. V, tods uS. Mb.
Trade With Portugal and Coloaiei
The Expansao Comerclal
Portugueia, Rua Assumpcao.42,
Lisbon, Representations o f
good American products re
quired. Bankers' reference
given.
CLOSEST MARKET
QUOTED ON
FOREIGN
GOVT. BONDS
AND
MUNICIPALITIES
OP
ALL NATIONS
BASED ON PRESENT LOW
PREVAILING EXC1TANGES
ALFRED R. RISSE
Specialists
59 BROADWAY NEW YORK
Tel. Uroad S:oi-7-74G8-S81
DAfLY SUBISI'S ON
UAitiicr n.vri uatiokb
SENT OK IthQUEST
. MASTER
French, Spanish, Italian
For trade, travel
IlueinVss, society
Day arid Evening Classes
Quick Results. Ask Details.
American Linguistic School
Tsley ISIdc 1701 Walnut Huruce Kit
1817
1010
Fire
Association
OK PHILADELPHIA
N. W. Cor. 4th & Walnut"
hua Blven Its policy holders solid
Inutumlty for num than one
hundred years nd lias never
been bo slront; rtnnnclully as how.
Have you a policy In this old
and rpllnlilo C'omp.iny?
CMAKTKK PEUPETUAL""
'Jllllllllllllllllllllllllllllllllllllllllllllll
INSURANCE
S AGAINST
Riot & Civil Commotion
Commercial Union Assuranca
3 Co. and
Queen Insurance Co, of
E America
WILLIAM8 & WALTON
416-20 Walnut Slv Pjik.
;iiiliiiiiliiiiiiiiiiiiiiiiuiiiiiiii!umMiiii
i
ii
s'sa
M-l
VI
u
vi
't
A
I
S l , j ,
c
r '
rV
7
-p
tii
.
?Jr
,."
x"
o t'i
U