5
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,
EVENING 'PUBLIC LEDGIilK PHIUABELPHIA, MONDAY, DECEMBER 29, 1919 ' IT
NEW YORK BOND TRANSACTIONS
C URB
AVI
i.
19
J
KM
IW
.
l.
t
New Issue
"," t
$10,000,000
Toledo Traction, Light & Power Co
First Lien Two-Year Seven Per Cent Gold Bonds
Dated December 1, 1019. Due December 1, 1921. Interest payable June 1 and December 1, in New York. Callable on
the first day of any month, on four weeks' notice, at 101 and interest on or prior to December 1, 1920, and thereafter
at 100J4 and interest. Coupon bonds of $1,000 and $500 denominations with privilege of registration as to principal.
The New York Trust Company, Trustee.
TAX PROVISIONS. The Company will agree to pay any normal Foderp.1 Income Tax which it may lawfully pay at the source to an
amount not exceeding 2 and the Company will alto agree to refund, through th Pennsylvania Company for Insurance onLiveiand
Granting Annuities, Philadelphia, the Pennsylvania four mill tax to holders of these bonds residing in that State upon compliance
wijlh the details in relation thereto set forth in the indenture.
Further information concerning these bonds U Riven In a letter of Mr. Henry L. Dohcrty, President of the Company,
copies of which will be sent on request, and which, based on the opinion of counsel as to legal matters, he has summarized
as follows:
"The- electric light and power properties of the system, upon which the $10,000,000 First Lion 7ri Bonds will bs
secured by a first collateral lien, are operated under a franchise unlimited In time, have a replacement value
substantially In excess of these $10,000,000 bonds and alone produce net earnings of over twice the annual in
terest charges thereon. While the bonds willalso cover as a first collateral lien practically all the street railway
property in the City of Toledo, no consideration has been given to the value of this property as security for the
present issue In view f the unsettled street railway franchise situation.
Earnings
Of The Toledo Railways & Light Company and The Acme Power Company, the ,
Oneratinp Subsidiaries of the Toledo Traction, Light and- Power Company, '
Eliminating Earnings of the Railway Department and Inter-Company Charges:
(Year ended November 30, 1919)
Gross Earnings $4,183,552.04
Operating Expenses, Maintenance and Taxes 2.454,925.06
Am Car & Kily 4
2000 80
Am H & Hot Co Da
1000 .... 85'A
1000 .... MV4
3S000 .... HSVj
18000 .... 85V4
3000 .... 85Vi
50000 .... 84i't
Am Tel Tel clt
V
Net Earnings $1,728,626.98
Portion of above Net Earnings Applicable) to Securities not owned by
Toledo Traction, Light and Power Company ,
Balance
Annual Interest on $10,000,000 First Lien 1 Bonds.,
Balance ........ ....
. 172.394.35
.51,556,232.63
. 700,000.00
ismim s t9 85 6,232,63
Income applicable te first lien bend Interest ever 2. 2 times amount re quired
While not included in the above statement, the gross earnings of the railway
department for the year ended November 30, loip, were $3,181,327.05 and net
earnings were $216,903.69. The inclusion of these railway earnings would increase
the amount applicable to First Lien 7 Bond interest by over $200,000.
Net earnings from electric light and power business alone over twice first lien bond interest
Toledo, wifh a present estimated population of 250,000, is one of the important industrial and distributing centers
of the Middle West. With its large manufacturing interests and exceptional transportation facilities, Toledo af
fords an excellent field for the further development of the electric light and power business."
Bonds are offered for' delivery when, as and if issued and received by us. It is
pated that definitive bonds will be available for delivery on or before December 2
J Wo recommend these bonds for Investment
Price 99 and interest, yielding: over 7h
antici
i. 1919.
Harris. Forbes & Company
New York
Widener Building, Philadelphia
The National City Company
Now York
1421 Chestnut Street, Philadelphia
sooo
sooo
1000
isooo
j (i no
3000
10000
n
11 Mi
11 Vh
77 Vi
11
11
Am Tel & Tel 5s
lUTfi
10
70i
H0
7l
10
10
10 VI.
10i
2000
1000
1000
100(10
tooo
8000
.sooo
3000
nono
Am Tel & Tel fl
3000 98li
1000
1000 .... 00
Am Writ Paper 7s
liooo .... W
1000 83
I 1000 .... 84
I Anglo-French 03
1.10(10 05S
10000 .... ?(i
sooo .... os'K,
20000 98 11
330000 .... I"!1)
S000O .... 9S9
80000 .... 95 11
8000 08
203000 .... 08
800(1 .... 95 II
100000 .... 05
10000 .... 05
13000 06
5000 .... V5;
1000 .... 98
10000 95
1000 .... 01
30000 95
13000 .... 93 11
50000 050'i
100000 .... 05
115000 0.1
220011 95 1.1
2000 .... 05
200(1 9.1
0000 .... OSOi
20000 0.1 13
20000 .... 95
20000 .... 05
1.1000 .... 95
10000 .... 05 1
Armour & Co 4 Vis
5000 .... M'.
Atch T 8 V adj
8000 .... 00
300(1 0
1.1000 .... 09
Atiih T & H V :v 4a
2000(1 ..
35000 .... 07 U
i-.i Top : a K 4s
0000 .... W
10000 .... "I
! 5000 .... 80 li
I 0000 8QVi
1000 80
1000 .... 80
nooo .... si
All Char 4 Via
2000 .... 82
Atl Char Ba
3000 .... 81
8000 .... 88
1000 88
Atl Coabt t.lne 4a
nooo .... lo
5000 80
000 .... 80
5000 80
8000 .... 80
500(1 .... 80
B & O Pitt L, B 4
W Va System 4a
1000 .... BOVi
1000 .... 50VI
2000 .... 8014
3000 5(1 li
! 3IMIO . . . nu
j 1000 .... 50
! 2000 .... 80
10000
2(100
12000
3000
88
8814
58 li
8814
Unit & Ohio 314a
3000 .... 83
.1000 .... 83VI
Baltimore & Ohio 4a
8000
800(1
1000
0000
2000
(100(1
2000
nooo
sooo
200(1
3000
30000
toooo
2000
sooo
2000
38000
12000
5000
1000
3000
5000
5000
0811
(M
0014
0814
osw,
(1814
151i
0(1
0(1
(1514
65
64
6314
08 li
65 li
6.1
63
6.1
08U
65 Vi
65 K,
65
65
Chi II & Qulnoy 4a
6000 .... 05 V4
2000 .... 0.1 li
3000 03
2000 . . . 05
Chi & Ort West 4a
8000 .... 81 Vi
5000 .... 8114
Chi MA St Pcv4Vi
1S00O
1000
2000
10000
1000
4000
2000
10000
tooo
4000
28000
SOOO
68
68
65
61
6414
63
(II
(I I li
4
(It
(1.1
6t4
Chi M & St P cv 5s
15000 .... 6,1
1000 .... 6.114
1.1001) .... 65
200(1 .... 6,114
8000 .... 6.1
I Chi SI &St P t 414
Y
Vivid Facts
IF our Railroads Cannot Exist With Their Present Credit
and
IF we Must Have Railroads to Live as a Nation
Their Credit Mus$ Be Improved
IF the Best Railroad Securities are Selling at Prices at Which
They Have Never Sold Before and
IF an Improvement in the Credit of the Railroads Wilj Mean
Higher Prices for Railroad Securities
Buy Now
The Opportunity Passes
Frazier & Co.
v
'Broad and Sansorn Sis.
Philadelphia
We Will
BUY
The Following Bonds
Easton Consolidated Electric Ss
Lehigh Valley Transit First 4s
and Ss, Also Consolidated 4s
Scranton Electric 5s
Citizens Light Heat and Power
of Johnstown Ss
Harrisburg Light and Power
Company 1st and R. Ss
Philadelphia and Western 5s
Mahoning & Shenango Railway
& Light 5.
Pennsylvania & Mahoning Ss
West Penn Power 1st 5s
HARPER & TURNER
INVESTMENT BANKERS
Stock Exchange Building
Philadelphia
65 Broadway'
New York
19 South Street
Baltimore
'"-
LIBERTY
BONDS
$50, $100, $1000
Bought Sold
Recommended for Inrestmeat
KtwJiurger, Henderson & Loeb
BANKERS
1410 CHESTNI'T S1RECT
lUmlieis it. a. It 1-lul. sum s
abaocM
B & Ohio Kow 314s
:iooo .... 75
1000 .... 15
Haltlmorc & Ohio ov
5000
500(1
10000
1.1000
25000
10000
SOOO
10000
15000
4000
2000
2000
10000
2000
10000
1000
2000
10IIII0
6000
5000
sooo
sooo
50
88?i
80
88
88
88
884
88 U
5814
80
88
88 Vi
8814
584
58 li
58 'i
88
.-,s.
81i
f'H'
88
5814
Hnltimoro & Ohio 6s
001i
o Vj
01
(10
01
60
0014
(1014
01 Vi
(II
(II
0114
0114
02
10000
100(1
1 0000
10000
100011
.1.1000
10(100
30000
111(111
8000
3000
1000
10000
10000
0000
tooo ...
I 8000 . . .
I .10110 . . .
' 8000 . . .
: 1000 . . .
I C 31 & St I
88
80
8014
soli
80
80
Kin 414
1814
is
Baltimore & Ohio 6s
tooo .... 00
3000 .... 80
Beth ftcel Corp fd
1000 .... 80
10000 .... 87
Beth Steel 6s of "31
5000 8(1
BU Hup T ct Sta 7s
3000 .... 42
5000 .... II
BrK Hapltl Trans 7s
2000 .... 18
7000 .... '8
5000 .... t4lM
Brool; Un Elov 1st
5000 .... 00
5000 .... ('(''.m
Cul O & E Corp 5s
loooo .... oo'i,
toooo .... 14
2000 .... I'O'.d
5000 .. ""'
SOOO . . ... on V
Cent of (Jcorgla 6s
2000 .... 93
1000 .... 0314
2000 .... 03
Central leather 5s
8000 .... o"
Central Pacllie 1st
1000 .... 17
I Alio . ... 78
2000 .... 17 j
Ccn n 11 of N J Ca
2000 ....101
10000 ....101
(1000
Chi Mil & St I
sooo .... nlA
sooo .... no li
Chi SI & St I 4s 25
8000 .... 70
50110 .... 09
Chi M & St P D 4s
11000 88
C SI & I S P.y 4a
28000 .... 0014
loooo .... noM
5000 .... 0014
Chi & N West urn
10000 77
Chi & N V 316s
10000 0814
ChlcaKo Hwys Co 3a
5000 0314
1.1000 .... 0314
2000 .... 03'K,
Chi It & Paclllo fd
32000
8000
511(111
2000
5000
.1000
30000
10000
100(1
07 If,
(1714
07
07 U
07 VM
07. .
71'i
(17
07
Chi H I & Pnc'.Ho 4s
8000 .... 7 I !.
1000 .... 7 I It
10000 .... 15
Chi Union Sta 4 lis
.1000 8 Hi,
Chi & West Ind 4s
1 1000 .... 58.
8000 .... 51
CIiIIm Copper Co Os
0000 .... 83
2.1000 .... 85
10000 .... 81
City of Bordeaux 6s
1000 .... 02
City of Lyons 6a
looo .... 02
20000
10000
.10000
loooo
1000
8000
10000
10000
18000
28000
1000
41000
10000
sooo
12000
80000
looo
2000
IDOOd
40000
10000
20000
5000
loooo
10000
20000
sooo
20000
2000
6000
2000
8000
60011
75000
10000
20110
10000
8000
1000(1
2000(1
10000
I00OO
600(1
1000
loooo
10000
80000
0000
4000
10000
12000
1000
20000
0000
8214
6214
82
82
62 li
02 V
52
62
62
62
62
82
62
82 li
62 li
82 li
6214
62 li
82
62 4
82 li
B21i
814
62 li
821(,
82 li
82
83
631i
63
63
83 li
83
53
68
62 14
.1214
2
63
63
6314
62 li
63
.13
62 14
82
62
52
52
8214
5214
53 li,
8214
Chesep'k & Ohio fd j Clly of Slarse 6s
1000 .... 7014
Clus & Ohio 4 14'
2000 74
3000 71
4000 .... 74
10000 .... 7414
2000 .... 74
CheH & Ohio 6s
10000 .... 9314
3000 02
1000 03
Clies & Ohio ov 4 Us
3000 .... 7014
4000 .... 7
10000 70
0000 .... 7 14
10000 70
Chca & Ohio cv 6s
20000
0000
100(10
2000
4000
2.7000
3000
2000
3000
iiooo
2000
10000
10000
6000
tooo
80
7014
7014
70
7014
701i,
80
80
7014
70
80
701h
70H
7014
80
Chi U & Q neb
2000 02
Chi & Qulncy gm
4000 .... 8014
1000 .... 70t
rnl H & Q II 314s
31000 ..
62000 . .
10000 ..
6000 . .
toooo . .
Chi li &
3000 . .
200(1 . .
3000 . .
71
71
74
78
7814
11 4
83 If,
83 li
83
Cons. City Tr., Lt. & Pr. 5s, 1962
Cons. Trac. of N.J. 5s, 1933
Duquesne Light preferred
Empire Gas & Fuel 6s, 1924
Jones & Laughlin Steel 5s, 1939
Lehigh Pr. Sec. 6s, 1927
Market St. Elev. 4s, 1955
St. Maurice Paper 6s, 1936
Wilkinsb'g& East Pitts. 5s, 1929
Locust 6191 Land Title BUg. "
Investors read
IkeWallSMkul
PENNSYLVANIA MUNICIPALS
Free Pennsylvania Tax
& Government Taxes
Bought Bold Quoted
MARTIN & CO,
1411 WALNUT ST.
TO
Bonds fori Investment
Circular JJpnn Request
The National City Company
Corrttpondtnt Offices in over It eUic
rhlUdrlphla 141 Chestnut Ht.
Atlantis Cltx IMS Mmrdwallc
lndlunapolls Traction and Terminal 5a.
1033
KanmiH Cltr (Ins Ss. 1022
Atlantic City Klertrle 5n. 1938
l'rr HhoalK Tower 6s, 1082
Wet l'enn J'ower . 1040
Consolidated Traction of New Jtrsey 6s,
19S3
Tenncsitce, Tower Ks, 1902 , .
Terr Haute.. Indlanapolla and eastern
Traction 6h. 1945 , .
rlilln. Huburbun (las and Klectrle 6s,
Consolidated Cities Light, Toner and
Traction 8. 10(12
Bmnlre la nnd Fuel 0, 1926
HENRY D. BOENNING & CO.
HTOCK EXCHANGE Ill'IUHNO
Direct Trlvate Telephone to New Vorfc
SlcmbiTH l'mla. Wtotk lCirhame ,
Thousands
Have Read
This Book
Your copy is ready.
Free to any business' man
who is interested in the
Market and who wishes
to know:
The- General Kuks of
Trading.
How to Give a Broker
Instructions.
Brokers' Commission
Charges.
How to Indorse a Stock.
Certificate.
How to Use Collateral in
Trading.
How to Group Investments.
The Deposit Kequircments
for Carrying Stocks on
Account.
The Rifihts of Stock and
Bond Holders, etc.
Written in simple lan
guage and easy examples
given. No obligation.
Edition limited. Call,
phone or write at once.
Ask for No. T.U.-667
JONES & BAKER
SECURITIES
Widener Bldg., Philadelphia
Phones Dill, Walnut 6065
Ktystone, Race 2290
Dlrtct Private Wirtt
onices In B Principal Cities
joon .... OS'S,
Cliy ot I'aris 6s
6000 .... 92)i
sooo .... omt
:iooo 2 Va
20000 .-: . . 02 V
6000 .... 92 Vh
2000 .... 92
I City of Tolilo 6s
2000 .... j.'.i
C C C & St t, emls
2000 .... O.TK,
Colo & Sou Illy 4s
1000 HH'i
Del & Hud Canal cv
10000 .... as
100011 .... K2
IIOOO .... H2li
Denver H. Itlo C fd
.-,000 .... 47
Detroll Kd 5s ot S3
1000 .... 06
Det Tunnol 1V3
looo .... 7
Det Unit Hwys 4 Via
:iooo OR
2000 .... (iVi
Dom of Canada '21
2000 01 Vi
2000 .... 97 Vi
Dom of Canada '31
:iooo .... Ol'.i
looo .... 01
Krlo General Wen
2000 .... 10i
oooo .... I0!)i
loooo 40
10000 It
Erie Hall Jload 4a
2000 .... 32 V
100(1 82 Vi
2000 .... 62 Vi
Erie Hall Hd cv A
11000 .... 36
,,000 .... 3.1
10000 .... 3.',
Erio Hall Hd cv D
20000 37
I 10000 37
, F K Coast Hy 4 Ha
i nooo .... 77 Vi
o C. M S & U Co fd
I mooo .... 39
rirent North Ry 1st
' 10000 ....
. Green 13 & W Hy B
! ,1000 8
Hudson & Man fd
i nooo .... 68
4000 .... ."i7Vi
Illinois Central fd
,-,ooo .... 70 Vi
' 3000 .... 7BIJ4
Illinois Central 5 Via
I 1000 .... 92
1 111 Steel Co 4tjs
0000 . . . 82 Vb
i 3000O .... 82T
Imp Jap Govt 4a
200O .... 70
In Nat C! & Oil IVi
2000O .... KlVi
Inl Mer Marino Ea
26000 .... 01 Vi
I ROOO 04 Vi
2000 06
1 10000 .... 04
I 20000 .... 04Vi
(1000 .... 04 Vv,
Inter Met Co t 4 Via
KCFIB4 Al 4a
1000 .... 06
2000 .... 03
Kan City South 3s
10000 .... 86
Kantt.it, City So Ca
C000 .... 73
3000 .... 72 Vi
1000 .... 72i
2000 .... 721!',
K City Ter Hly 4s
6000 74')i
K & Doh M 11 It 1st
looo .... .
L S & Mich 4a '23
2000 .... HI)
10000 .... 80
3000 .... 80
t. S At M S 4 31
22000 83
Lehlsrh Vol en 4 Vis
loooo .... 8.
LouiM & Xa3tivi e ta
1000 82 Vi
H000 .... 82 Vi
Mnnhnttan Rwy 4s
20000 .... 38
Midi Central U 4s
3000 7Bi
Micli State Tel 43
13000 H5
Mldvnlo Steel Co 5s
1000 .... 70 Vi
No States Power Es
ROOD .... 112..
Oregon Short 1 4a
aooo .... R3 Vi
S000 .... 83Vi
lOOOO .... 83
4000 .... 83 Vi
1000 83
Oregon Short Ij 6a
8000 .... 92 Vi
Ore Wash KR Co &
Navl Co 4 s
BOOO .... 72
Tacillc Tel & Tel Es
7000 .... 85 Vi
3000 .... 85
Tenon It It gm 4 Vis
20000 .... 81
8000 .... 81 V4
0000 .... 81
2000 .... 81
8000 .... 81Vi
Pennaylvanla Hit Sa
3000 .... 01 Vi
V ' Mnrquette 6s
BOOO .... 80
Tpii Ser C of N J 6a
1000 .... 88
2000 .... 37 Vi
IT UK It It 4S
2000 81
6000 .... 81
fi C, & W Hy 4s clt
8000 .... 47
7000 47T
San A & A P Hy 4s
2000 .... 30 V
AOOO .... 80
Seaboard Air I, a)
2000 .... 38Vi
8000 .... 33 Vi
1000 .... 34 Vi
Sealiil A Ij sta 41
10000 .... 00
1000 .... 00
S V & New Kng IX.
2000 .... 78Vi
St h & I M S Hy Cs
BOOO 02
Southern Pacific fd
8000 .... 78
10000 .... 78
1000 .... 78
2000 .... 77
1000 . .(. 78
2000 .... 77
Southern Paclflo T
13000 7IVi
Southern Pacific 4s
2000 .... 70
South Pnclllc cv Is
tooo .... 81 Vi
3000 .... 81
2000 .... 8tVi
13000 .... 81
12000 .... 81
27000 .... 81 ',.j
South Pacific cv 5a
St ii & 8 West Ea
2000 .... BOVi
St P Mln & M 4 Vis
2000 .... 01
Tex & Pao Hy 1st
16000 .... 84
10000 84
Third Avo Hly odj
27V
sir.
27 Vi
, 27 Vi
. 27 K,
. 87
Hly 4s
. 80
80
3000 . . .
2000 . . .
8000 . . .
BOOO ...
7000 ...
4000 ...
Third Ave
3000 ...
2000 ...
U li ot O U & I 21
3000 .... OSVi
2000 .... 03 Vi
1000 .... 93
8000 .... OBVi
6000 .... 00
Until It ot O U & 1
s of '22
100000 .... 03 Vi
23000 .... 95
U K ot G U I
rets of '29
BOOOft
loooo
38000
10000
02000
60000
3000(1
14000
1000
3000
04V.
04U
01
91
91
01
01
94
95
94
U K. of O II & I 37
80
88
80
80
86
80
80
80
80
117
80
80
80
8fl',i
80 Vi
80j
8(1
10000
200000
4000
3000
30000
3000
1 1 000
I BOOO
10000
8000
28000
10000
1(100
26000
71000
2000
2000
ARNEGLECTED
Business Small and Prices of
Most Active Stocks Are
Lower
DROP. IN GENERAL MOTORS
New York, Dec. 21). The Broad
ptrect ourb market wan comparatively
quiet todny. Uusiuess ivns generally
nmiill in volume, even In the Issues
which have lately nttrncted special at
tention. Prices of a majority of. the
active stocks were lower.
(iencrnl Asphalt ranged from 112 to
10v4 and Siinms Petroleum, which
opened nt 70, declined to WS'f White
Oil ranged from -JT'i to -17. Halt Creek,
nfter its hroak lust week, allowed a bet
ter demand, moving up today to 401$,
North American I'ulp was exception
nlly strong with nn increased demand
carrying its price up toi"';, the highest
li-vd touched in some time. Kctnll
('unity sold oft from 18 to 17l on a
Miinll amount of business. Aetna hx-pln-dves
wns traded in at 8 to 70i -
Submarine Itoiit ranged from 15 to 14.
mid Ccnernl .Motors sold down from !(
to :.".
International Petroleum was again '
strong, moving up from HOvit to 70V$.
Montgomery - Ward continued heavy,
selling at 10.
INDUSTRIALS
1000
1300(1
BOOO
BOOO
3000
1000
10000
2000
3000
13000
3000
8000
4000
Minn St I'
83
83
82
82 Vi
82
82
82 Vi
82 i
83
H2
83
83
83 Vi
& Sault
Sto Marie Hy 4a
looo 81 Vi
M K &. Tex 2nd ct
10000 .... 27
Mo Kim & Tex 4 'is
3000 .... 21' j
3000 .... SIVt
Mo Pnclllc sni 4s
2000 38Vi
88 Vi
68
38
38 V,
88
38
38
Power Co 5s
0000
2000
11000
0000
8000
2000
3000
Mont
2000
2000
3000
10110
85
85
85
8S
15000
30110
13000
40011
8000
1000
8000
3000
16000
20000
SOOO
SOOO
10
10
in
i9i
in
in
10
15
10
10Vi
10
lOVi
Interb Met Co 4 lis
17
10
lOVi
lO'i
lOVi
mvi
in
10
10
13
15
lOVi
15
10
mvi
18
KiVi
lb',.1
16
16M,
16
10
111
15
Nation Kuain Co 4s
1000 9(1
National Tube C 5a
10000 .... 02
N O Tex & ilex Ea
10000 (13
N Y C& II K H3Vi
10000 .... 08
10000 ... 08 'i
NVIli UK Kit 43
BOOO 80
11000 . .. 70
NITS M K P. 4 Vi
2000 .... 78
N V r & II H H Gs
3000 .... OOVi
N YC & H H Kit 6s
10000 .... 00
20000 .... 00
1000 .... 00
1000 .... 91
N V Con H 4 Vis
3000 . ., . 77
7000 .... 70
N Y Gas & Klec t,
H & Power Co 6a
50000 .... 81
NY XII & II 4s '66
looo .... 10
N Y N II & II 6s
oooo .... no
moo .... 07 Vi
nooo .... 00
N Y Out & West 4s
3000 .... B9
3000 .... 39
, V Hwys ct 4 s
10000 .... 28
15000 .... 27
7 000 .... 37
20000 .... 27
4000 .... 27Vi
14000 27Vi
N Y Hallways 4s
10000 .... 27
N Y Hallways ct 6s
3000 8Vi
20000 .... BVi
New York Hwys Ds
20000 .... 8
40000 5V4
38000 .... B
N Y Stato Hys 4 Vis
73000 .... 40
.' ' Meidiu) t
8000
10000
23000
10000
30000
1000
1S000
80000
10000
.103
. 103
.103
.102
.102
.103
.102
. lO.IVi
.102') i
Southern Haiiys 4s
(10
OOVi
69
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85000 88
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1000 .... 85
1000 .... 85
2000 .... 81
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8000 8 1 'i
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2000 .... 87 Vi
57000 87
10000 .... H7'.i
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3000 .... 87 Vi
U S Rubber 7s
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2000 07
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3000 .... 79 Vi
READJUSTMENT
OF
Maxwell Motor Company. Inc.
AND OF
Chalmers Motor Corporation
To the Holders of
MAXWELL MOTOR COMPANY, INC.:
Kin I Preferred wtock;
Second Preferred btocU,
Common htoik,
CHALMERS MOTOR CORMPANV:
Plrst Morteage Six Per Cent l'lve Year Qold Notes.
CHALMERS MOTOR CORPORATION:
Preferred, atock;
Common stock,
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:
Stock of Maxwell Motor Company, Inc. 6G 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 the
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 an 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 therefore
urges the prompt deposit of their securities.
Dated, New York, December 16, 1919.
IIAItRY DltONNKK
J.tiivu r tit
JOHN R. SlIlltltON,
KI.TON PARKH.
Jl'I.KH M ll.rllK.
iirnn niAi.MKUft.
J. 1IORAC13 UAKUINO,
ChalraisD,
II. HttnilKS. Rerretary.
80 Xlroadway, N. T. Clt.
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