rj
BV2SHING P-DBIIO LEeR-FaiLAJJjiJLPniA, MuJXDAY, DlSCEMBMt 1919
'i.fi
m
.
YEAR SCHOLARSHIPS
AS HOLIDAY GIFTS
Williams -White Foundation
Civos Money to Families So
Children May Continuo
SUPPORT CONTRIBUTED
great n consideration to us as their
taiu Mis? I'ratt.
one lltllo boV." uo uiMcrt.
erv brlelit and fullv rcnuld
,115 for the scholarship by his excellent
work In school. Hut ho was very In
different to eating and would never at
tend bin mcnli If lin could eat out of It.
Wo had n talk with lilm, and finally
elicited his promise to eat. Last week
ho camo into the office. When asked
how he was getting along with liln diet,
he exclaimed, Gcc, don't I look fntter?
'I've been eating everything meat, po
tatoes and even rlco with raisins in
it (bis special .detestation). It ain't
half so bad when you get used to It."
This work is supported by contri
bution During tho. lust year .$:031.55
has been paid by the Foundation In
theso scholarships.
One of the most practical gifts for a
working boy or girl at this time Is to
give them a year's schooling.
This may bo dono through the WH-Hams-Whlto
Foundation, 1522 Cherry
street.
Many boys and girls ore deprived of
tho opportunity to finish their ele
mentary edtication at public schools be
cause tho money they might earn is
needed at home, Tho foundation makes
knn effort to supply the families of such
children so that the children may con
tinue their studies.
Mies Anna Pratt, director of the
work, says that the foundation iu rid
ditiou to giving the money contributed
to families of the children, looks after
the welfare of the boys and girls.
"Tho health of tho children is as
Church Has Golden Jubilee
WlUlamstown, N. J., Dec. i!2. JuM
Ice serviced wcio conducted yesterday
In eclebrntiou of the fiftieth nnnher
snry o tho Bunker Hill Presbyterian
Church, near Crocs Kejs. The Iter.
Dr. Raymond H. Gngc, of Wenonah,
preached at the afternoon service and
tho evening speaker was the Rev. J.
M. Hunting, of Glassboro.
Gifts to Dlx Soldiers
Hiuldonfleld. N. .1., Dec. 22. Mrs.
Robert A. Irving, representing the
Loving Service and the Iladdon Fort
nightly, of this place, and Mrs.
Charles II. Kelton, representing the
T'nrpiit-TpnpliprN' Association, wilt mo
tor to Camp Dix tomorrow with loads
of Christinas rlieor lor tne i-:.s unnj
Inmates of the hospital there.
iO NOT BUY RAILROAD SECURITIES IF
you believe that the railroads the largest
industry in the country are going to
be allowed to go into bankruptcy be
cause laws necessary for the satisfactory
conduct of their business are not going to
be enacted. BUT IF YOU believe, as we
do, that it is imperative for the 'welfare of
the nation that this great industry must be
and will be given satisfactory protection,
then you must believe that RAILROAD
BONDS which can now be purchased at
from 80 to 60 of their former prices
' and yielding from 5 to above 8 are
an attractive investment and that this is
the time for you to
UYSOUND RAILROAD BONDS
We have prepared a circular on railroad
bonds, a copy of which toe shall be glad
to send you on request.
Parsly Bros.
, 1421 CHESTNUT STREET
V PHILADELPHIA
Bell Spruce 6170 Keystone Race 760
Members Philadelphia Stock Exchange
IL VOIO Dl FIDUCIA
AL GABJETTO NITTI
L'Ordine del Ciorno Approvato
con Voti 242 Contro 216
Contrari
Published nnfl Distributed Under
, PEIIMIT NO. 841.
Authorised hy tha act of October 6,
1817. on file, at tho rostofllce or Phila
delphia, Pa
A ft. EURLKSON.
Postmaster General.
Konin, 21 dicembro. La piccola
mnggiorauzn ottcnuta dal Goveruo nlla
Camera del Deputati oggl, quando
1'ordluo cho esprlracva fiducla nl
Gablnetto fu approvato con votl 212
favorcvoll contro 210 contrnri, non si
credo cho causcra' la caduta del Mini
stero Nittl. Clo' nonostante si con
sidera die causcra' qualchc cam
biamento nel Gabiqetto.
Roma, 21 diccmbre La Camera del
Deputati npprovo' oggl un online del
giorno, enc iminicava mlucia nl uov
eruo, con oti 212 contro 210.
II Ministro per gli Affnri Ksteri, On.
Sclaloln. delieno' la politico del Go
veruo e discusso la questlone Adriatica,
vueienao Mil memorniulum Anglo
Franco -Americnno nrcfcentnto nll'Itnlia.
Bgll lia dctto clip quando fu iu Londra
ijiojo ucorge splego cho 11 uicniornii
dum nou cia una regohue notu o col
'ettiwi propostn, ma uu docunieuto il
quale docva soltanto essere riguardato
come un putito di partenzn per l'apor
turn delle .dUcussioui.
L'Ou. Scialoia intendeva di rcplicnre
per iscritto ul memorandum, inn chu la
'Iccisionc fu ussorbltu dal rliultnto da
una plena discus'sione oralc. Kgli ha
detto :
"IV cvidento die i nostri AUcati fono
dUposti n discutevc unu soluziouo la
qunle nou coiucitle internmente con le
ultimo proposte amerlcane. lo sono
fidticioso clic confioutnlo cou uu nccordo
delle giaudi potenc nlleatc, biiato sui
coiiiuni vautaggi iloiriluiopc, il Piesi-
dentp H-.OH (.biibcntiiu uu alcune
modltirhe ul buo schema."
II Ministro degli Rstcrl confermo' la
dichlarazlone del Prcsidcuto del Con
siclio On. Xitti ebn c' intenzioiie i!rl
I'ltalia di liuiancro fermanientc unltu
agli Alicflti, pa nggiunse:
"Le solide garnuzie dl nderenza per
I'ltalia dei nostii tratclli di Flume, la
protczionp degli ititlianl in Dalmnzia o
la sicurozza dcll'Adriatiro, sono i nostii
scopi verso i quuli tutti i no-,tri forzt
devono cserc d'uetti. No! nou nbbiamn
intcuzioni agrpsMve e iuemo licti f.
potrcmo Mnbilire nmiclievoli lelazioni
cou i nostii ucini siill'Adriatlco, i
qunli non devono dlnieutlriirp la grnnde
rmttc prpso dall'Itiilla per la loro
iibcrazione."
jamj!i&l!Mii4.MJJKV&
w
"Injured by flying glass" is
what you read about every
automobile accident even
slight ones. It couldn't hap
pen with "Safeteo Glass."
Aslc iour dealer or parage man
Furnished In any shape
or size for iour Auto
The Super Glass Co..
820 N. llrourt fit., ruila,
Sldmbcr o A. A B. A.
i '
' f
"r
The Directors and Officers
of the PHILADELPHIA
' TRUST COMPANY an-,
nounce the opening of the
new Broad Street Office
of the Company at the
Northeast Corner Broad
and Chestnut Streets
" , .', V iff' 1$. "
i afiriitai,
GOSSIP OF THE STREET j
SWITCHING OF RAILROADS
TO OWNERS VERY BIG JOB
All Eyes Turned on Washington for the Panacea for Unscram
bling of Country's Carriers
FOREIGN INTERNAL BONDS
Wo have established
t Direct Cable Communication
with
Belgium, France, Great Britain and Italy
and through our agents in these countries can offer subject to change in prico
featurihiy Closlnr Price at Par
I'rlcra Excitants Normal
Belgian Govt. Restoration' 5s $105 per 1000 frs. $193
. French Govt. Victory 5s 86 per 1000 frs. 193
French Govt. 4s of 1917 '. 73 per 1000 frs. 193
British Goyt. War Loan 5s 385 per 100 486
Italian Govt. Consolidated War Loan 5s. . . 75 per 1000 lire 193
Wo aro prepared to give information concerning these and other Foreign Securities
and invito correspondence on this subject
EDWARD B. SMITH & CO.
Bankers
1411 Chestnut St., Philadelphia
ELKINS, MORRIS & CO.
Bankers
Land Title Bldg., Phila.
THE financial district again registered
disappointment when, just before
closing on tho Saturday half session,
word came over tho vhe from Wash
iugton that there would be no message
on Saturday from President Wllsou
bearing uu the return of tho railroads.
Some of those disappointed tried to
find consolation in the news that there
would bo a vote on the Cummins bill at
3:30 on Saturdaj, although they ex
pressed doubts us to what interposition
might bo made by Senator La Toilette.
There were quite a number who
showed Interest in the statement on the
railroad ucstion published In this col
umn on Hdturdny to the effect that a
certain person had been in touch with
labor leader 'councils and found dies
were int only certain about the reten
tion of the roads, hut u1o the holding
up of certain legislation Miflirientlv
Itng to throw the whole railioad issue
Into the next presidential campaign.
Quite a number said it was more thnn
probable, and a few were doubtful, hut
udded thnt a few dins would show.
It will not be for the lack of proper
and voluminous propaganda, remarked
a banker, if the public fall to be in
foimed of the real conditions of the
railroads. .Tulius Kruttsehuidt, of the
Southern Pacific, has just published
a diagram showing a rooinnrisoti of the
increases o rates bv the railroads with
the increase of prices, in trade. This
diagram ohows that the Increase in the
cost of commodities carried bv the ronils
sluce the war has been from ?50 to 5110
per ton, but rates iqei cased in the same
time SO cent per ton.
In other words, while the incmise
In value of commodities wns $03 a ton,
ho increase in rates was onlv SO cents a
ton, or, as Mr. Krnttsehmidt put it,
the rnilroads took 1 I! ipnls out of the
increased value of the goods marketed,
while the traders took OS. 7 cents. Theie
I? no question, he said, that in some
.ay justice must be done to the rail
toads. Tho Treaty and Credit Plans
If the treaty is not ratified very soon,
said nn investment buuker, it will shoit
lv become the leading influence in cery
financial avenue in this country. So
long as it is being kicked like a football,
as is now the ene, no ciedit plans can
be nrrnnged for the benefit of Kuropc
and our export trade will suffer se
verely in consequence.
He said what surpiiserl him mot
are the statistics of our forei-jn trade
figures under present conditions
The cxpoits continue to expand, and
this cxpuusiou is not confined particu
larly to auv ono country, such as Great
Britain, where the fall in sterling is
causing some apprehension, but applies
as well to all belligerent countries in a
greater or less degice. If one had!onl,
the exchange lates to base conclusions
upon, ho lenmrked, expoits would be
at a low point or would luua ceased
altogether.
One wonders what they might bo if
conditions were different, and tho treat
signed and out of the way, he said.
Bankers Discuss Business Conditions
Below aic given leading oplnioiih on
matters relating to pieseut financial
conditions:
II. L. Oohcify S. Co.: Kixed income
beating securities hae suffered seerely
In raaikct prices from the ndiauce iu
the cost of living, and the consequent
deei eased purchasing power of the dol
lar The imestor who three years ago
owned these fixed income bcaiing se
cuiities and received from them n satis
factory income now finds that the
amounts ieceied in interest or in divi
dends on these imestments will not
purchase much inm-e than one-half the
volume of commodities these same In -tircst
and dividends purchased tluee
j ears ago.
At the lime of tho signing of the
nrmisticc more than a jear ago theie
was a feeling in investment circles that
neace would result in n lowering of
living cost, a consequent increnso in
the purchasing power of the dollar, and,
of course, an advance in the market
quotations on fixed income bearing se
curities, such as bonds and preferred
stocks. The riso in bond prices im
mediately after the si?uing of the armi
stico was largvl influenced through
buying by large institutions on the
theory that ns the war had enilecl com
modity prices would recede, and securi
ties with fixed rntes of return would
advance, but the dela in readjusting
Europe to a peace basis, and the con
tinuance of territorial and other con
tiovcrsies worked against any lowering
of commodity prices. It is the uni
versal 'opinion of dealers in investment
securities that there tau bo no general
advance in market quotations on such
issues until commodity prices have
started to move downward, and the
oiirchasing power of the dollar begins
to show an increase, these factors, of
course, meaning an increased luir
i basing power in interest and dividends
on fixed income bcaiing securities.
Chandler Bros. S. Co. The foreign
exchange market still remains the oiv
''Ig thing to put right iu some feasi
ble manner. When you can buy eleven
and three-quarter fiancs for u dollar,
one pound sterling for ?3.l!G and 100,
000 marks for $2000 thiugs lime gone
far enough to call a hult. The estab
lishment of a few billion dollars of
dedlt for these four countries, in
eluding Italy, and in which several
smaller countries, such as Hie Scindi
navian, Jugos, Serbia and Humnnin
an particjpate. Ir a pressing necessitj.
The silver situation presents a puz
zling problem, with Inbor the iuteifei
ing joker. This complex condition ex
ists; at no time in many jears has the
lequest for slher stocks buen so slight.
anil at no previous timo has the demand
for silver metal been so insistent or its
alur so great. Kngland has a virtually
unlimited order in the maiket at ruling
quotations, but not below $1 nn ouuie.
China requires fullv 7,000,000 ounces
under similar conditions, to satisfj her
needs. It would teem, therefore, tint
present demand will continue without
much, if any impairment of value. To
pick up silver stocks nt present very
low quotations before the big demand
develops for them seems to us a very
wise proceeding.
llcckcr A: Co. Investors with ready
cash were very much In prominence last
week iu picking up some of the low
price rails. These careful investors
realize that the days of building new
transcontinental lines is passed and
therefore the present systems will have
to take care of tho couutr.'s giowth
much to tho enhancement of these se
curities. With Baltimore and Ohio
selling around 30. Lehigh Voile around
40 ami St. Paul preferred around 50 it
Hoes not need much money to pay for
these btocks' outright and take them
uway from the market. This gradual
absorntiou will have its effect, particu
larly if some good news pertaining to
them should develop.
MacMeeliln & Wilkinson More in
dications nppearcd that so-called undi
gested securities are a market factor tit
nrescnt. A factor that cannot bo re-
fdiiced to computation, they exert,
nevertheless, an upprcclablo innuencc.
The ultimate investor, it Is clearly
found, has nut absorbed the great moss
of m-cent flotations, Much of this new
New York Curb
IMlUgTItlAI.H
Air noductlon . .. . no
amir Marconi . .. .
Amer Hafety ttnzor . . . 17'4
c;r Llclit ... . a
Oen Anplmlt 113
Clen Motors 3S14
llHjilen Client
llupii Motors 134
Heiidta Mfic -IS
Jtulliin Packing 20
l.oew s lno 'jn'i
Montana Wn.nl 11
North Amir Paper 4'4
J't-rfrctlott Tiro Hit
Hoot VHndmort Bl
Kepublle Tiro Itublicr .... 4',l
Known Fountain Ul
Sulmiarln lloat 11
Hweetn Co 10'j
Tdi Proctueta Kxp . ... 31'
U S .steamnhli' I
United Jinan fandj .. lsVj
United Profit Sharing.... J'
t'nlttct I'lituro Prod . . 17
Vtvladou itn. . . . . L2
Wayno Coal i.;
Lew
43.
Close
II)
174 17&
3 !l
111H 112
31 3X
3 II
13 nt
finnncing is still supported on credit.
Ah this clears, a vitally helpful In
fluence In the money market will be
created. The new ear, however is ex
pected to produce many more issues of
all types. And there is the. unusual
number of approximately 100 ucw list
ings yet lo be put upon the stock ex
change, many of which are now secu
lities created during the last year. An
nouncement to this effect emphasbes
the fact that the appeal to the public
in the matter of ucw tlutiuclug is by no
menus concluded
A. M. Byllesby & Co. About ?lfi.
000,000,000 capital, representing a con
siderable part of all the snvings of (he
people of the eountrj. are invested in
public utilities. The securities repie
scntiiig these savings nrc held bv thou
sands or investors, large and small, uud
by nenrlv everv linnk i,l finnneini t .
stltution of the country, and in endow - ' v''U't'L ivt" '
ment funds of churches, colleges, Mr"'0'! . e.l..'.:
OUUU.UB, nospirnis, ana in other trust
Kinds. Ihe integrity of Ihesc invest
ments is of diiect or indirect conse
quence to evety citizen, mid the main
tenance of the service and the expan
sion of the time and monev nud labor
saving devices of public utilities ate in
calculably (niportnnt to every man oi
womnn with an indiisttiiil intetest iu
inn touutrj whether as invcstfn, em
p over or wngeenrner.
"Tho Annalist." on lestoring the
Pllichasinir nmm. ,i.A r..n..n j.. .
ir.'i . tU,Q it. ....-I .
4S
SOJi
6k
in
Wi
1(14
3ci't
t
IS
17
21 'j
4
INDWIMdlNT OILS
Allied Oil
finance
Amnl Hevally
Hoono Oil
J'oston Wjcinlnu ...
Uurknett van Cleavo
' urlh Sjn
i"o?den & Co ,.
Dominion . .
I ilk Basin Pet ....
lmeralda. Oil
IVdoril Oil ..
Ol.nrcKk Oil
Horn Oil
Mourton Oil 1,"iS
7
07
tf
3.il
?
'a
,
Int l'otrol
iMarid uu
I.ivlnaston
0
ili.'
IU
3
i
7S
10U
sii.vs, m ))Urt:
,JTV toi wl""V tllc PW'Jcct of the htie
American investing corporation appecls
mnf?f,a,.0DBby r,'lVrt thnt if American
manufacturers and traders leave in
sni'J i" , '. cash "I'cruing fiom their
sales in that country they will have to
ii "n.j'l'iljnlent amount of capital in
I ae I nitecl Mutes in order to carrv ou
their badness True, but In that case
rVm,tl"I"if'I Vtt ho M,UEllt 1,v fIlnsc bc"t
equipped to locate it among those most
interested hi fuinisliing it. The expott
cr. if he be not the actual pioduecr of
the goods exported, can ask the sup
pott of the producer In financing the
linnsnetion which benefits tnem notli.
Another expedient can and will ptob
alih be emplojcd. It is that of an al
liance between the export house nud the
sttougly i capitalized International
liuntire corporation. Alteadv there nte
several of these alliances iu opciation
in the United States, uud the present
complicated economic situntlon in Ku
iope will utTord ample scope for thrir
uctivitj.
However, the problem how the Amer
ican exporter who left his money in
I ranee would obtain cash to finance his
operations need not be gone into in de
tail. Our object Is to devise some ma
clunerv wheiebv Americans trading with
1'iance will be enabled to invest in that
country in such a way and to such an
extent ns to keep exchange at a level
where thev can continue their regular
export business. It is believed the plan
outlined would accomplish this.
LOCAL MINING STOCKS
lONOl'AH BIOCKH
Cnsli Ho
.Tim Under
MncVamira
MIiJwhv
Mliimli Extension
Montana .
North Mnr . . .
Hi scue l.nla
Innnpth i:trnnirin
West rind
V est Co l ...
No Am Oil
HP
1'hllllpa It
Producer & Ilttlners
Uanger OU
lUan oil
salt Cnek Prod ....
Swiucjah Oil ... .
kellj Oil
slmttiH l'pt
I'iH jvHiiKer .. l'-n
'irinit on ;
mu "II .... . ln'i
V nln. , nn uiw ., . , is,
Vulcan on IJ4
nmiiik on , , nj'4
MINIMI, MOCItS
1)V
1(1
1
7
91
5i4
11
3311
r,
1SS
n4
11
.
43
11 4
01
r.'
11
io!j
in
i,
0'i
4S
20J,
4j(t
IU
51
13
11
oVi
32
I
18U
I?"
"'ft
ini"t
1't
7
07
.'US
!:
lr.s
11 Us
sn
111
,1
111'.
42'I
ml'.
Hid
nil
J 1
in
ir,
mi
.10
.or,
.17
Hi
10
UIV1D13 STOCKS,
Mlled 15lvldo 01
Alto Dllido OS
Ilelchpr ::.-
lien Hur 1ft
llrouirh I'lvld' 35
Divide KMenston . . .
IHvlde Svndlcilo 01
Divide Con as
nuidend
K-ist I)lvli o-,
Hasbrnmk Divide on
Hleh Divide a-,
Ilevirt Dlvlrfo "-,
Keno Divide 04
Hosettj, . of
Silver Kine '10
Tonop.ih Divldo 35.
Tonopah HaKhiouik "0
Vlcorj Divide ir,
A erde Divide
nono
I tlanla
niue Hull
nooth
COD
Combination Traction
c lackerjark
Diamonddfld II n .
Dllav
Ploreni-e
cloldllelil Con
Cleldtleld Mercir ...
Hold T), celni mrt,
PCIreat Ilend .. . .
.lumLo Extension
KavviraH
J.ono htTr
Orn . . .
"f'l 1 llii . ....
Silver Pkk . ".
Spearhead ....
.20
30
CiOI.DriELD hTOCKH
02
.OJ
.01
.02
.in
.0.1
.01
.OJ
.31
.11
.m
.13
OJ
.111
Amparo
Arizona United
J. nen
.02
Ill
OI
, Ot
03
04
MI&CnLLAKEOUH
1
0
CTnth..' t'n',1 .-
Nevada Hill n" '
Nevada ltnnJ ..., 'ofi
N'euda Wonder '. 'r,
Prjinontarlo ,1
TeenpT Allnins 07
White Cans . ....... .11
Combined Reserve Bank Renort
HiishlnB Inn, Dee IM Tho vveeklv report
or the combined .ondltion of the twelve IV,.
""I.1;?""?, """. l ie close of bunlnei;
AvW
OS
:i
i"
.'ii
OS
1.1
IIS
11
.ft
on
.1 1
311
.13
15
Ol!
.10
21
.07
07
I Ml
.30
21
.20
03
.03
07
HI
.01
07
03
ir.
to
11
en
n
01
07
111
.01!
.01
.01
"1
04
.111
.13
Me. .mWrllV .,""".' "uoiuess
rederai ii;c ii.,"',"" "";yr." .v .tne
: ,;;;, ' -"..., .a a iuhov,
on Friday
1 enoral :
omitted).
(000
itcsourtcns
Gold roln nnd tcrtlll-
cates III ult J241.321
uold settlement fund 309 8J1
Gold v-lth rorelkti
aecnrlea . . . 137.717
Dec. 12
J243 14S
401. Odd
110.010
T 1 cold held by tk $778.1177
Gold ivlth rederal no-
"no aa-enta 1 201,(151
Gold redemption fund
with U H Treasury . lln.K"
J788.12I
1.188.343
110.821
Total Bold lesonea 2,0!)5,S13 2.0nn,288
J.eiral tender silver
ctra . subsidiary coin M),008
OI.HT
Total reserves
Bills discounted seured
ny povt war obiu
All other
xiuia boutflrt In open
lnarl.it
2.1 SI 11 2 1(10.401
il
M. 11.0.10 ll.BR8.417
"ifltl.MB
HD9
41.. IS!
..Total hills on hjuid. 2.nnl,37S J2,SO nm
V, 1 Govt bonds ,. 28,848 2(1,847
II s Vlitors notea 54 ' aS
U H rertlllcates of In-
debtednoss . . . 303 358 273 2ln
T'l other earn nssets J2.8IU ssn V fiAi 07
riank premise! . . 12.98(1 12.983
Uneolletted Items (de
duct rr. cross clep ) 1,1 10 224
KIvp tHr cent redemn
fund acalnst V It
hank notes . 13.3S1 12 nfli
All other tesources , 11314 H 270
liS1.r27
Total resource . . .J(l 221.S04 Jil.150 241
LIABILITIES
Capital paid In 187,010 jst noi
.Surplus . 81 os7 si ns?
rtovernment deposits (14. 459 89 503
Due to members teserve
aneount . . 1 733.013 1.S17 401
Deferred availablllt
items . . 848 007 "M 5.14
Othr dep inel for
government credits . mi nr.n 101.48s
Totel crosi denoslts 12.7.11 148 2 7il!i 1111
Ked Tie nois In ac
tual clrrultton . 2,988 SOI 2.907.431
Fed Res hank notes In
circulation nel lla
lilll" 230.075 258 444
All other linhltttleM In-
clud for. govt credits . 5(1,451 R1.322
Total liabilities . . JS, 224, 004 $(l" 1511.241
ftatlo of tolnl reserves
In net deposit anil
rei!"t reserve into
llnbllli'es cinih'ncd. 1(18 4(10
Ilatlo "l enlil reterves
to J'rili-ral It l"'
nntes in clriMi'iiilo'i
, nfteri setting nsldo 31
per cnt aaaln-t net
deposit liabilities .n.2"",, 42 8
' .
BAR SILVER
rommorinl hnr riUvpr ns minted
unchanged i fiondon today at 77d,
Alas-Hr Col
Atlanta
Hflcher HUo ,
ivicher lltio Kvt .. .
IllK I-ftlKO . . . .
Ilnoth
Mn8t A Mont
IHitte-N Y .. ..
( nliil Min
1 nlumft Joromo . . .
Canada Cop
Canrtelnrla At
Cons Virginia
Cons Cop M
Crppwin Oold
Crernt MrNamara ...
hurii(H Cioctua
4tf Mininc
(Joldrn Unto Kxp . . .
UolJ Cons . . . .
Gold Kv.atiH ....
Grld Atertjtjr ....
Gold iller l'Uk . .:..
Great Ilond
IIpi la AIltitiiR:
lumbu nxtenalon . . , .
Knox Dl Idn ...
Louisiana Co
MrNHinara
Gold om
March Mln
Ioth( r Loda
Natlonat Tin
MplssliiK . .
North Mir . . ....
Onnndasri ....
Hoohetiter Mines . . .
ltop Group
Sin 'lo
Rlhcr Kinir of AlUona
lunopah Uelmonl
Tonopdh Cdsli liov
Ton Divide . .
Tonopah Ext
Tonopah Jim IJutlcr
TOIiopah Mlzpah . ,
Tonopah Alontnna . .
Ton HroLue Vu i . . . .
Unltv Gold . . . . .
United Kastern . ...
Victory . .
WeH J-nd Cons
AVlilto Caps
Wllbert .
prlnnrton
U S Cont! .
LOCAL MEN NAMED
ON FINANCIAL BODY
Educators, Bankers and Busi
ness Men at Pan-American
Conference
Notcc'. riillntlellihin cducntori. bunk
ris and busiup'-s men nrc nmonR the men
selected by Secretary oC the Treasury
Glus as I'cmih lvonia members of tho
croup committee appointed iu connec
tion with tho recoud Tun-American
financial conference, which opens iu
WnshiriBton on January 12,
The committees will help Mr. Glass
in his conferences ivith ministers of
finance and other delegates sent by
Latin-American governments at the in
vitation of President WiUon.
l'ennsjlv.una members ot group com
mittees cho-.cn bj Mr. Glass ar"-.
IJoliviu, member, Arthur i. Cliureh,
secretarv, llaldwin Locomotive Works,
I'hilailelphia; t-ecrptarj , Charles Ivou
Chandler, manager, Toreign Tiade De
partment, Corn Exchange Hank, Phil
adelphia. Chili, member, C. II. lowing, federal
manager, Al!ej)ien region. United
States railroad administration, Phila
delphia, vice president of the Heading
Hallway, und John J. Itaskoli, chair
man, finance committee, General Mo
tors Corporation, Wilmington, Del.
Costa Kicn, secretary. Cjrus V.
Wicker, Logan Hull. University of
Pennsylvania, Philadelphia.
Cuba, members, L M. Pntterhon,
Wharton School of Finance and Com
meico. University of Penusvlvunia,
Philadelphia; Levi L. TSue. Philadel
phia National Hank, Philadelphia.
l'ciiador. member, Howard I). Loeb,
president, Tradesmens Natiouul Hank,
Philadelphia.
Guatemala, member, A. B. Farquhor,
York, Pa.
Honduras, member, John G. Ilussell,
president, Seeuritj Trust nnd Safe De
posit Co , Wilmington. Del.
Mexico, membei, Alba P. Johnson,
ex -president, Baldwin Locomotive
Wotks I'hiladelphia.
Panama, chaltmun, II K. Mulfoid,
the Ami'ticiiii Laboratories, lf)U4 Pine
stieet, Philadelphia'; member, James T.
Young, Wliaiton School of Finance nud
Commeice, Univcrsitv of Pcunsjlvania,
Philadelphia
Peru, members, Hollis Godfrej. pres
ident, I)reel Institute, Philadelphia;
Lmerj It Johnson, dean, Wharton
School of Finance and Commerce, Uni
versity of Penusjlvnniii, Philadelphia.
Venezuela, member, nil Hum v. il
son, director, Commercial Museum,
Philadelphia
PROTESTS NEW RICHES
Japanese Hurs Himself From The
atre Balcony Into Millionaires
Toltlo, Dec 2-.' As a public protest
against the luxuries of the newlv rich,
u joung Jnpauese threw himself from
the bjikonj of the Imperial Theatre
into a group of millionaires, who were
seated iu tiie orchestra. The joiuig
man was seriouslv injured bv the fall;
tho niillionaiics were unharmed.
Acts of sai'iiliu' of this soit as u
manifestation against conditions bo
liecd cvit have frcquentlj occurred in
Jnnunese history
Every Man
Needs This
New Book
Free to any business
man who is interested In
the market and who wish
es to know:
The General Rules of
Trading.
How to Gie a Broker
Instructions.
lirokcre' Commission
Charges,
How lo Indorse a Stock
Certificate.
How to Use Collateral
in Trtdinp.
How to Group Invest
ments. The Deposit Require
ments for Carrying
Stocks on Account.
The Rights of Stock and
Bond Holders, etc.
Written in simple lan
guage and easy examples
given. No obligation. Edi
tion limited. Call, phone
or write at once.
Ask for No. T.U.-664
JONES & BAKER
SECURITIES
Widencr Bldg., Philadelphia
Phtm, Bill, IVthut 6065
Ktyfnt, Rate 2290
DirHt trivitl Iflrtl
ritubonr
fielten
Mew York
Ciieigo
Dttrolt
Btltlmetf
Free ol Normal Federal Income Tax
Free of Pennsylvania State Tax
PENN PUBLIC SERVICE
CORPORATION
1st & Ref. 6s, 1929,
at 96yi and interest,
to yield 62
Circular on application
Locun; BID! ianj THU BJp, Kace 414
LIBERTY BONDS
All Issues
Bought and Sold
$50 $100 $500 $1000
Graham, Parsons ZMq,
435 Chestnut Street
Philadelphia
J-mANfrAI,
pAVlI) MirTON'B SONS COMPANY .
Sinking Fund I'lirrhoK ot I'mOrrfcJ IMok
Purmiint to the turfemfnt of David tcipr
ton'" Bonn Compiny nnd th undrl(nl, M
Triutfe of the fiinktnn Fund, lhe.,ndeii
lnrt hrrrby Klv notion that It hMt
relvrd hotlrr from David Luptom1 Bonn Com,
puny that nld Company will dr;otlt with tlw
undermined nn or before January B, lick
the mm of Thlrtv.one Thocifand Three "
urru miu iincr'oeen uoiiara una l
v-riiie ,oi,i,(,mi(, in tne HlnHIn
provided under the Aitreement under
,.hf:JKKS",.Ah'?. .f- Pref.rred.loa
lle,l. at a price not to exceed oar and Sk
crura premium of ten per cent. n..kl -
1 . . -. . . j " " . f' . vtii t,i art
W.'irWin,.w-J"W",?!S ? Ah-?'.!!4lpw
.-..rj";"i"r': ".' " """" r
pucn . otieri" will lie rer ert tmlll
fc- -
'JttnMvaLWtffi2
inr
COMPANT
,',,.fK.on "rrember 89, 110,
l'HILADULl'HIA rilUST
Trunin
JOHN C. WALLACE,
Phllaclclplil. December 20. injill"Vr"r'
'Annual Meetlnra
ISS THE ANNUAL JII5KT1NO OF TUB
"S' no cvhnldera of tho m,..Yi ifir
Marine lend Inland Inaurance Company, for
the election of Director to aerve for tho
enaulntr year nnd for the tranaactlon'of ouch
other buslneaa aa may properly com befnr
It. will be held I at the offlM ofthjmpany!
Uoom lrt3B Commerrla Trtiat BulMlnr!
Philadelphia, at a no o'clock p. m "on
Thursday. Janunrr VI, 1010 p ' ott
ClLAnLKa N. HAStnO.
necretary,
IK3?IIE MANAYCNK NATIOJfAI, BANK
k? Thlladelphia. Dec. 18. I9t K
The Annual Meetlnp for the election of
Director of thla Bank will be. heM ii
llanklnir Hnuae, corner of Main anS
I.evnrins, nta on TueKdny, January A
1020. betnern the houra of 11 a. m ami
1 p. m. """
EUOENH J. MORRIS.
Caahler.
vxn
lrSErMTTr,B srninxKii.1, naoa.
liS THIN ItAlLROAl) ANT1 rni '.WAi
, - .w.&a www
811 Walnut t.
Philadelphia, December 10 lorn
The Annuil Meetlne of th ,i.h.,I
nnd an election of offlcera will be held on
ednraclu. Jaiiunry 11, 1D20. at eleven (111
o'doclc a m
PIIUSTOX BREAnLET. Jr.
Becreta'
'SZz-,
r3? T1IK ANUAI, MKETINQ OF 1TIK
American Hhlpbulldera and fihio
ownera' Mutual Insurance Company will ba
held at the nmce of the company. 228 Wal
nut street, Philadelphia, on Thuriday. Jan
uary 15. 1020, at 12 o'clock noon.
HENrfr r. CLARK.
HecreUrr. '
37THK ANNUAL SIKF.TINO OF THE
n Trnnapnrtntton Stutual Tnsuranoe Cam.
puny will be held at tho office of the com'
puny 22rt Walnut elreet Philadelphia., on
Tiiesil.i). .lumuirj 27, 1020. ut 12 o'clock
noon.
1IENRT P. CLARK, Secretary.
Annnal Klectlona
K35orKirB OF TIIE fllRARD TBUST
IKS' COMPANY
At the Annual Meeting- of the atockholdern
of filranl Tniet Compnny, held December lis;
11B. the foilowlnir ManaKere. whose term
of omce then expired, were duly elected to
sere for the term of four eara:
Thomaa De Witt Cuyler
C llartman Kuhn
C'hariea Edward Ingeraoll '
John B. Jenka. Jr. '
Charles J, Rhoads
At a meetlne f the lloard of Manaitarav
held December IS, 1910, the followlnir
offlcera were elected:
rfflnKham U Mnrrla President
William New bold Klv, Vice, President
Albert Atlee Jackson, Vlco President
Oeorse H btuart, 3d, Treasurer
.amul W Morris. Secretary
Thomas S Hopkins, Asst. Treasurer
i:dard T Stuart, A.st. Treasurer
V Lewis Barroll, Art Secretarv
S. W MORRIS.
Hecretarr.
,5Sr THE rr.xx MUTUAL LlSp
& INSURANCE COMPANY
PhlladPlphla. December 30 1010
Tha Annual Election for nine trustee'
serve three vears will be held at the nom
office ot th company In tho Penn MotSi,
"ulldliw .lid W nut ..... PhTlPadSii'
between
Pa., on Jlociouy,
the houra ot ju
1020.
Jnnimry A
. m nnd H
JOHN HimPTrnnva
Secretary and Treasurer.
U3V I'lilladelphlR, Pa.
The annual election for Director, of thin
Bank will he held at the Banking- Hou on
Tuesday. January 13th. 1010, between the
hours of 10 o'clock a. m. and 12 o'clock pa
U W RRT
Caahlaj,
..THE NINTH NATIONAL B;VNK
X5 Philadelphia, Decemlwr 20. lino.
The Annual Meeting of the stockholders
of thla bank, for the election of directors,1
u HI he held ut th hankinif house an Tum.
dil). Jnnunr 13, 1020. between the houra of;
12 o'clock nnnn and 1 o'clock p. m. r '-
JOHN a. 80NNEB0RN, Cashier. V
Dividends
Bonds for Investment
Circular Upon Requeat
The National City Company
CorresponIent Offices In over SO clllea
Philadelphia 1421 Chestnut Nt.
Alluntlc City 1225 Boardwalk
Georgia Ry. & Power Co.
Second Preferred Stock
REED A. MORGAN & CO.
WKST END TIU'ST Bt'ILDIVG
Members of the Phlia. Stotk Exch
K. IV. CLARK A CO.. HANKERS
Offlce of the HUNTINGTON DEVCLOP.
MENT AND QAS CO
Preferred Stock Dividend N'o. 12.
The board of directors of the Huntinrton
Development and das Co.. has declared the
regular quarterly dividend of on and one
half per rent (IMs'r) upon the preferred
stock of the compnny. paiable January 2.
1020. to stockholders of record at the close
of business. December 21. 10I. Checks will
be mailed to holders of otinur trustees' cer
tificates of depoHlt.
WILLIAM L1LLKY. Secretary.
INTEGRITY FINANCE COMPANY
J4 a. join PI.
Philadelphia, Dec. 5. 1019.
The Directors have declared the rerular
semi-annual dividend of S5.00 IS) per share,
on the Preferred Capital Rtoclt. payable
January 1, 1020. to stockholders of record
on that date. Checkr will b mailed.
C T. OARUER. Treasurer.
Proposals
PROPOSALS FOR HURLAP OFFICE OF
tho QuartermuHter (tencral, Clothinr auo!
Kqulimne DlvUlon, Munitions Hid., Wash.
lnsioii, D. C.
.Sealed proposals. In duplicate. wl! be re
celved here until 11:00 a. 111., January IB.
1020. for furnishing all or any part of
,0.0(10 yards llurlap. Information on re
quest.
FINANCIAL
)SS5I10 IHE HOLDERS OF THE Io
' ' Klnle. Lunnlnc Ijun und Trust Co.
Dehenliirc llonds:
Persuatit lo an order of the District Court
of tho United Males for tho Eastern District
of Pennsylvania, entered December 15, 1010,
the undersigned upon piesentatlon at its
office of tho debentures will pay th'r'on the
flunl llai'ldnlloii dhldenil tu tha several series
in the, percent ages bs listed belcw.
f-erles A l)2lS.'h0n4 Series O .04ll9H4ill8S
Series B n3JJ7HlJ87 Scries H 0034813
Herlea C .0120311 Merles 1 OOJ0UO27R
Series D .IIH3SA4109 Herlcs J .0412IKI37AO
Tories II .01U00S314 fcfrl" K .01440331144
Berlca V 0430101"2i
onunu TRUST CO.,
Trustee and Receiver
Philadelphia Pa December 22, 1010.
READJUSTMENT
OF
Maxwell Motor Company, Inc.
AND OF
Chalmers Motor Corporation
To the Holders of
MAXWELL MOTOR COMPANY, INC.:
Klrat Preferred stock.
.Second Preferred 3tock.
Common block,
CHALMERS MOTOR CORMPANY:
First Morteaso Six Per Cent Flvo Year Gold Notes.
CHALMERS MOTOR CORPORATION:
Preferred stock.
Common stock
and
To the Holder of Certificate of Deposit issued under the PUn
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:
Stock 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
the amount of notes of Chalmers Motor Company, are not in tba
judgment of the Committee sufficient to enable it to declare tho
Plun operative.
3. The Committee has been unable to secure from the Bankers a
positive commitment for an extension of the time for the purchase,
fjy 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 therefore
urges the prompt deposit of their securities. '
Dated, New York, December 16, 191.
HARRY imoNNK.rt, Chairman.
JAMES O. UKAHV,
JOHN R. MOICRON,
ELTON PARKM,
' JULKH H IIACHK.
HCflH CIIW.MKKH.
J, HORACE HARDING,
louimutet.
C. H. HUGHES. Secretary,
80 Broadway, N. T. City.
V
3BSB
,.f,
N
to'.
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