t" J-1 go EVENING PUBLIC LEDGER-PHILADELPHIA, MONDAY, JANTJAEY 5, 1920 ; ", , l K f ft &l W (it UT' I"! i "If H, r. jtt .jt rr L j '$ I h 'I - M A Bank for Business People In the Busiest and Most Centrally Located Spot of Philadelphia For those in-town or out-of-town, this bank can be of service to individuals, firms and corporations as a depositary and a place to get sound business advice. A spirit of co-operation always prevails. Being accessible to all transit and railroad lines means quick action on any banking subject, and the exactness of the service rendered here means satisfaction. Conferences Arc Invited Third National Bank In the Center of Things Opposite Broad Street Station LONDON STOCK MARKET Undertone of Securities Good Home Ralls Irregular Oils Buoyant London, Jan. 0. While the under tone of securities ou the stock exchange vas good, the markets presented a checkered appearance. The gilt-edged section was firm. Home rails were irregular, owing to the uncertain reception by the, workers of the government new wage offer. iiexicaqs displayed strength. Oil shures were buoyant. Transport was llai. Financial Briefs Shell LONDON METAL MARKET Nm rk, Jan ft, Cable adctn reci"Ud at the New York Metal Eicho.nre thin mnni. Inir nuotM prices In London a follows! Tin ?pot, tjuo dc. tuiures, tout o. ajia strait, 383 35 all ur 17 lun. Pali's Spot, SO tons; futures, 070 tons. Standard copper Spot, 1120, an advanco of ft! futures. 125 10b. a, caln of (4 lis Xa.le Snot. 10(1 tnna. and futures. 3200 tons. Klectrolytlo topper oi'ui. nu. luiurcs, iwa, u. cmn 01 tu for both. Lead Spot, 47 10, an upturn of tl 15s, futures. 47 lot, a caln of 1 10s. spelter Spot 60 10s, an advanco of 1: futures, 01 10s. up f- "s. Liverpool Cotton Lherpoo), Jan. 5. There ttas a good inquiry for spot cotton today, with nricea strone on the lmt-is nf an ml. vnoce of 82 points for middling at 20.05d. The nalcs were 10,000 hales. The receipts were ."0,000 bales, includ ing 27,000 bales American. Futures were steady iu the early tradings. Spot prices were: American, middling fuir, 3,"..73d; good middling. SL'.-iSd; fully middling, :il.2:;d: middling LD.OSd; low middling, 27. t."d; good ordinary, 'JJ.lSd; HUtl ordinary, L'll.-JStl. Tho New York Stock Exchange has received tho applications to list Detroit Kdtsou Company, 53,800,000 additional capital stock and II. O. Penney Com pany temporary certificates for ?3,000, 000 7 per cent cumulative preferred stock. The average price of twenty active in dustrlal btocks advanced 1.12 per cent on Saturday to 100.88, while twenty railroads advanced 0.S0 per cent to 70.48. Uonbright &j Co., Inc., announce that Alfred L. Ioomls. formerly of the firm of'Wintbrop & Stlnson, has been elected vice president and a member of the hoard of director?. The New Tork Subtreasury lost $573, The New York Subtreasury lo6t $573,- 000 to the bunks on Saturday, reducing tho cafh net gain since Friday to ?1,- 200,000. William T. 1. Hall has withdrawn from the firm of McCown A. Co. Mullins Body Increases Dividend ltoston. Jan. 5. The Mullins Body Corporation declared a quarterly dUi dent of SI on the common stock, pay. able February 1 to stock of record January )". This increases diidcuil rale from ?3 to SI per annum and was initial quarterly pajmsnt of 75 cents ou November 1. GOVERNMENT BONDS m.i Panama roupon Zf 1031 Hfl-j rananis rrrlaterad 2r. 11)110 . '"fi'y Panama coiipon Si 193". . t'S'-j ransma resloterd .'. 103S pt, ranami lOTprn toCI . SS'S ranama '.sintered 3s, 16I .. RSH Philippine 4t. loil . n'j Philippine 4s, 10V. . . .02 Philippine- Is. loir, n; U H GOU. oupnir 2s 1030 .100 I' S Clou reentered 2s 1930. 100 U H QOM foupon U. 1112' .. 10V-. U a Ooit rTlsteri-d 4s. 1P2S .10V4 JJItt of Columbia 3-l),"is 1021. ("7 lOtUi lOO'I 100U lOO'J 00'? 1104 0 0 no loot, 10C1U loa'i llUldrnJs Republic Oil & Refining Co. Dividend No. 9 The Tioard of Directors havo declared n extra dhlrtnd of "V. paplf Jantiarr 10, to all stoeKholdTS of record January 1. 1B'0, r AVE A .lONEfl. Jr. PretUenl. lv-ccmlvr 20. 1010. W January Investments THE January Issue of oar monthly publication, "Invest ment Recommendations" is ready for distribution. Wc shall be pleased to send you this booklet, and to ( give additional information regard ing investment securities. A complete list of our other book lets and pamphlets of interest to investors will be sent on request. Guaranty Trust Company of New York New York London Liverpool Capital and Surplus -Resources more than Pari Ham Brosaels - $50,000,000 - $800,000,000 Clayton F. Banks Correspondent 421 Chestnut Street, Philadelphia Telephones: Bell, Lombard 4691 to 4699 Keystone, Main 438 io nrwn.Timmunni'uiiniiEPKiimtiiinmci.iuiuiH I'm'iiiiiiiiiiiiriiHiirminD'iijFiniijmumjrHiinri'npnLrXHnmEiunnuTrU'niEiiiM , , .,..... a II : S "America's Pioneer Discount Bank" Foreign Trade Banking Corporation 35 Wall Stiect, New York City Opened for Business Afril 15, 191S : & : E : m 5 I Capital $2,000,000 Surplus (Paid in) 200,000 Undivided Profits (Earned) 457,000 Reserves 95,000 Total i $2,752,000 Total Assets Over $25,000,000 . Domestic and Foreign Shipments of Merchandise Financed. Commercial and Travelers Letters of Credit Issued. Foreign Exchange Bought and Sold Bank and Trade Acceptances Interest Allowed on Balances MAX MAY Managing Director iMMIMMfflmMWMM TAX FREE MUNICIPALS EXEMPT FROM ALL FEDERAL INCOME TAX $45,000 Adams County, Pa., 4V2s to return 4.25 45,000 Columbia, Lancaster County, Pa., 5...." " 4;E0.5.00 59,000 Up. Darby Tshp., Delaware Co., Pa., 4 t" " -S 4.35 17,000 Tinicum Township, Delaware Co., Pa., 5 u " 4.50 62.000 Tnroop, Lackawanna County, Pa., 5s. ... " " 4.50 451 000 Essex County, N. J., 434 " " 4.45 130,000 New Brunswick, N. J., 434i " " 4.60 195,000 Collingswood, Camden County, N. J., 5.. " " 4.65 65,000 Bogota, Bergen County, N. J., Sy2s. ..." " 4.70 23,000 Audubon, Camden County, N. J., 6s. . . . " " 4.80 75,000 Fairmont, West Virginia, 5s " " 4.85 Full Particulars Upon Request Telf Lombard 710 711 M. M. FREEMAN & CO. 421 Chestnut Street Philadelphia 1 1PON request we will mail a copy of our January circular containing a diversified list of invest ments yielding from 4.25 to 8.50 . LEE, HIGGINSON & CO. Established 1848 1366 Finance Builiinr, PHILADELPHIA r i i. -.iSprue29 92-W8 BOSTON HEW YORK CHICAGO HIGCIHSON i. CO... LONDON In Re Reorganization of Fort Wayne & Northern Indiana Traction Company Notice to Depositors of Fort Wayne & Wabash Valley Traction Company First Consolidated Mortgage 5 Bonds under Plan ofrirf Agreement of Reorganization dated August 18, 1919, and to Holders of Undeposited Bonds. Notice is hereby given that the undersigned Committee rep resenting First Consolidated Mortgage Thirty Year 5 Gold Bonds of the Ft. Wayne and Wabash Valley Traction Company deposited under Bondholders' Protective agreement dated Sep tember 12, 1917, and the Protective Committee representing thu First and Refunding Mortgage 5 Twenty-Year Gold Bonds and other securities of the Fort Wayne and Northern Indiana Traction Company deposited under Protective Agreement dated October 31, 1917, and the Protective Committee representing First Mortgage 5 Bonds of the Lafayette and Logansport Traction Company deposited under a Bondholders' Protectivo Agreement dated Jan uary 15th, 1918, have approved of certain revisions of the Plan and Agreement of Reorganization dated August 18, 1919, under which a somewhat better representation will be given to the La fayette & Logansport Traction Compnny bonds and to the Wabash River Traction Company bonds, and also an additional amount of tho First Mortgage Bonds of the New Company will be reserved for expenses and contingencies; also the right will be reserved to the New Company to issue, with tho approval of the Public Service Commission of Indiana, at any future time, n class of securities, which will be subject to the First Mortgage Bonds but prior to the Adjustment Mortgage Bonds and all junior securities, in order to assist in providing for the future "re quirements of the company. Copies of said revisions havo been lodged with tho Commercial Trust Company of Philadelphia, De positary, and the Fidelity Title & Trust Company of Pittsburgh, its agent. Notice also is hereby given to the holders of the undeposited First Consolidated Mortgage 5 bonds of the Fort Wayne & Wabash Valley Traction Company that same may be deposited under tho Plan and Agreement dated August 18, 1919, as revised, up to tho close of business January 10, 1920, after which date no deposits will be received except upon terms prescribed by tho Committee. Committee appointed under Ft. Wayne and Wabash Valley Bondholder' Protectivo Agreement dated September 12, 1917. P. M. CHANDLER, Chairman E. W. CLARK JOHN M. IRWIN JOHN n. MASON A. A. JACKSON C. S. W. PACKARD R. LANCASTER WILLIAMS W. J. DEVINE, Secretary Pro Tem. 700 Franklin Bank Bldg, Choose Your January Investments From These Carefully-Selected Securities The following securities are selected from our own list of bonds, short term notes and preferred stocks, and arc presented for the consideration of those who have January funds for investment. Attention is called to the liberal yield at present prices. Offered subject to prior .sale and change in price. UNITED STATES GOVERNMENT, TERRITORIAL, FEDERAL LAND BANK AND WAR FINANCE CORPORATION BONDS , Apprexim.t. . , Mnurity YltU ' Rcffitterad 4 . After Feb. f, 1025 2.72 Coupon 4t After Feb. 1 , 1 925 2.72 Panama 3 June 1,1961 3.45 Liberty 3H June 15, 1947 opt. '32 3.49 Conrenlon 3 Jan. 1,1946-1947, 3.BO Victory 3 ?i May 20. 1923 opt. 22 3.90 Hawaii Public Imp. 4t Sept. 15, 1 949 opt. '39 4.20 Liberty lt 4 June 15, 1947 opt. '32 4.36 Federal Land Bank Farm Loan 5i May I, 1938 opt. '23 4.37 Federal Land Bank Farm Loan 4 $ a May I, 1939 opt. '24 4.60 Federal Land Bank Farm Loan 4 Ja May-Nov. I, 1937 opt. '22 4.50 Liberty 2nd 4 '. Nov. 15, 1942 opt. '27 4.53 Liberty lt Conv. 4H .... June 15. 1947 opt. '32 4.60 Liberty 2nd Conv. 4U Nov. 15, 1942 opt. '27 4.76 Liberty 4th 4U Oct. 15, 1938 opt. '33 4.80 War Finance Corporation 5 April 1 , 1920 4. 85 Victory 4?4 May 20, 1923 opt. '22 4.00 Liberty 3rd 4 M Sept. 15, 1928 4.68 STATE AND MUNICIPAL Pytblt New York Slate reg. 4 '2 M-S Sept. 1,1963 4.10 New Haven, Conn., cpn. 4 Jgi M-S I 5 Mar. 15, 1927-34 4.30 Buffalo, N. Y., reg. 4s and 4 1 J-D 15 June 15, 1960 and '64 4.35 Schenectady, N. Y., reg. 414a M-S Sept. 1,1921-24 4.35 Boro of Munhall, Pa., Sch. Ditt. cpn. 4& -J July 1,1936-48 4.375 Mount Vernon, N. Y reg. 4 M-N Nov. 1,1920-39 4.40 Maditon, Wuc, cpn. 5s Apr. I April I. 1928-35 4.50 New York City cpn. 4, 4J4 and 4 M-N 1957-59, '60 and '67 4.GO New York City reg. 3ia M-N Nov. 1,1928 4.50 Cuyahoga Co., Ohio, cpn. 4s , A-O April 1, 1922 4.60 Cuyahoga Co., Ohio, cpn. 5s A-O Apr.-Oct. 1. 1926-27 4.60 Davier. Co., Ind., cpn. 5s ' M-N 1 5 May-Nov. 15,1 922-25 4.60 Atchison, Kans,, Sch. Dist. cpn. 4 ?4s J-J July 1,1945-49 4.60 Montgomery Co., la., cpn. 5s J-J July 1,1929-35 4.60 Atlantic Co., N. J., cpn. 4?4s J-D 15 lune 15, 1929-31 4.65 Logan Co., Ohio, cpn. 5a J-J Jan. -July 1. 1928-29 4.65 Salt Lake City, Utah, cpn. 4s A-O April I. 1925 opt. '15 4.70 Dayton, Ohio, cpn. Ss J-D Dec. 1,1927 4.70 Hamilton, Ohio, Sch. Diit. cpn. 5s J-D Dee. 1,1926.34 4.70 Scioto Co., Ohio, cpn. 5s M-S Sept. 1,1932-38 4.70 State of South Dakota, cpn. 5s A-O Oct. 1,1932-38 4.70 Oklahoma City, Okla., Sch. Dit-cpn. 5s A-O April 1,1930-39 4.75 Rock Co., Minn., 5s M-N Nov. 1,1929-36 4.75 I.oj Angeles Co., Cal., Flood Cont. Disl. cpn. 5s J-J July 1,1924-57 4.75 Chatham Co., Ga cpn. 4as F-A Aug. 1.1923-24 4.78 San Francisco, Cal., cpn. 4 ! J-J July 1,1937-46 4.80 San Diego Co.. Cat., cpn. 5s I-30&D-3I Dee. 3 1, 1949-59 4.80 San Antonio, Texas, cpn. 5s M-S Sept. 1, 1926-27 and '44 4.80 Tucson, Ariz., cpn. 5s J-J 2 July 2,1934-49 4.85 Houston, Tex., cpn. 5s T-A Aug. 1,1932-43 4.85 Washoe Co., Nev., cpn. 5Js J-J July 1,1924-29 4.90 La Salle Parish, La., cpn. 5s A-O Oct. 1,1925-44 S.OO Halifax Co., N. C, cpn. 5s M-N Nov. 1,1928-49 5.00 Tom Green Co., Tex., cpn. 5 Igs , M-N May 1.1935 5.05 Titus Co., Texas, cpn. 51-38 A-O 10 Apr. 10, 1927-43 5.0S Nacogdoches Co., Tc.i.. cpn. 5ts A-O 10 lune 2,1929-49 fl.lO Mississippi Co., Ark.. D. D. No. 17 cpn. 5 K-A Aug. 1,1937 8.25 Franklin Co., Ark., R. D. No. 1 cpn. 5s F-A Aug. 1,1927-38 3.25 Sabine Co, Tex., cpn. 5 &s '.....' J-J Jnn. 1,1947 S.23 CANADIAN GOVERNMENT, PROVINCIAL AND MUNICIPAL BONDS Payments to be made in U. S. Funds ' Psysble Dominion of Canada cpn. 5 ), . F-A Aug. 1,1921 6.18 Dominion of Canada cpn. 5 F-A Aug. 1,1929 6.25 Ottawa, Ontario, cpn. 5s J-J July 1 , 1926-31 6.25 Province of New Brunswick cpn. 5a J-D Dec. 1,1929 6.28 Province of Ontario, cpn. 5 Vt A:P,S pr- ,5, ,922 6-30 Montreal, Quebec, cpn. 6s J-D Dec. 1.1922 6.50 Montreal, Quebec, cpn. 6s M-N May 1.1923 v 6.80 Greater Winnipeg Water Dist. cpn. 6s J-J Jan. I, 1924 6.50 Province of Manitoba cpn. 5s A-O April 1,1922 6.50 RAILROAD AND INDUSTRIAL BONDS Anaconda Copper Mining Co. Secured 6s Jan. 1, 1929 6.40 Baltimore & Ohio R. R. Co. Prior Lien 3Ji July 1 , 1925 7.00 Central Argentine Ry. 6 Conv. Gold Notes Feb. 1,1927 8.50 Central of Georgia Ry. 10 yr. Secured 6s June 1,1929 6.95 Chicago, Burlington & Quincy R. R., HI. Div. 3 W July 1,1949 5.10 Chicago, Burlington & Quincy R. R., Nebraska Ext. 4s May 1,1927 S.30 Chicago, Milw. & St. Paul Ry. Deb. 4s, (Now Mtge.) July 1,1934 8.50 Chicago, Milw.& St. Paul Ry. Gen. iRef. 4 Us Jan. 1,2014 7.40 Chicago, Rock Island & Pacific Ry. 1st and Ref. 4s Apr. 1,1934 7.80 Cuba R. R. 1st Mtge. 5s July 1,1952 6.70 Fla. East Coast Ry. 1st Mtge. 4 Jji June 1,1950 5.85 Grace Steamship Co. Marine Equip. 6s Dec. 1,1922 6J6 Grace Steamship Co. Marine Equip. 6s Dec. 1,1923-2" jb'H. s & Grace Steamship Co. Marine Equip. 6s Dec. 1,1928-33 N&toeji Gt. Northern Ry. 1st & Ref. 4 H July 1,1961 5.20 HI. Central R. R. Secured 5s Jan. 1,1934 6.20 International Merc. Marine 1st and Coll. Tr. 6s Oct. I, 194 1 6.40 Lake Shore & Mich. So. Ry. Deb. 4s May 1,1931 S.85 Midvale Steel & Ord. Conv. Sinking Fund 5s Mar. I, 1936 6.50 New Orleans & Northeastern R. R. Ref. 4 a Jan. 1,1952 6.00 N. Y. Central and Hudson River R. R. Deb. 4 May 1 , 1 934 B.flO Pennsylvania R. R. Gen. Mtge. 4)s Juno 1,1965 3.40 Virginian Ry. 1st Mtge. 5 May 1,1962 6.00 PUBLIC UTILITY BONDS AND NOTES American Public Service 7 Notes Mar. I, 1921-23 7.00 American Public Service 1st Lien 6s Dec. 1 j 1942 6.77 Chicago North Shore and Milwaukee 7s Junel5, 1921 7.00 Ft. Dodge, Dos Moines & Southern 5 Dec. 1,1938 6.90 Fort Dodge, Des Moines and Southern 5s Dec. I, 1924, '29 and '35 6.90 Mahoning & Shenango Ry. & Light 1st 5s Nov. 1,1920 7.49 Mahoning St. Shenango Ry. 4: Light 6s Nov. I, 1920 7.23 Michigan R. R. 1st Mtge. 6s May 1,1924 7.38 Monotigahela Valley Traction Genl. Mtge. 7s July 1,1923 7.50 Northern Ohio Traction & Light Secured 6 June 1,1926 7.27 Northern Ohio Traction & Light 1st Lien 5s Aug. I, 1956 6.60 Potomac Elec. Power Gen. Mtge 6s July 1,1923 6.80 Public Utilities Co. (Evansville) 1st & Ref. 6s Ian. 1,1929 7.37 Rochester Railway & Light Gen. Mlg. 7s Sept. 1, 1921 .00 (Now Rotheiter G 4. Elec. Corp.) Southwestern Power & Light 1st Lien 5s June 1, 1943 6.70 Toledo Traction', Light & Power 1st Lien 7s Dec. 1,1921 7.56 Topeka Railway & Light 1st Rfg. Si Aug. I, 1933 7.35 SHORT TERM NOTES AND FOREIGN GOVERNMENT BONDS American Tel. & Tel. Co. 6s Feb. 1,1924 7.15 American Tobacco Co. Serial 7s Nov. 1,1921 6.10 American Tobacco Co. Serial 7s Nov. 1,1922 6.20 Anglo-French Loan 5s Oct. 15, 1920 9.50 Bethlehem Steel Co. Serial 7s -. July 15, 1923 6.75 Chicago, Burlington & Quincy Jt. 4s July 1,1921 7.30 Delaware & Hudson Co. Coll. Tr. 5s Aug. I, 1920 6.75 French Cities 15 yr. 6s Nov. 1, 1934 6.80 Jacob Dold Packing Co. Serial 7s ,Vv-'5i "23 6.B0 Japanese Government 1st 4?s Sterling Loan (English stamped) . . . Feb. 15, 1925 9.00 New York Central R. R. Coll. Tr. 6s Sept.15, 1920 6.50 Pennsylvania Co. 4Js Loan Ctfs J""0!?' '221 6'30 St. Paul Union Depot Guaranteed 5 Dec.15, 1923 3.75 Susquehanna Silk Mills Serial 6s Apr. I, 1925 6.65 United Kingdom of Great Britain and Ireland Secured 5s Nov. I, 1921 7.70 United Kingdom of Great Britain and Ireland SJii Nov. 1 , 1922 7.25 United Kingdom of Great Britain and Ireland 5 i s Aug. 1 , 1 929 6.20 U. S. Rubber Co. 7s Dec. ,923 6.10 Waltham Watch Co. 6s Aug. I, 1924 6.20 PREFERRED STOCKS Dividend Psysbls Firestone Tire & Rubber Co. (par $100) 7 Q"". Feb. 1 5 6.95 Graton & Knight Manufacturing Co. (par $100) 7 Quar. Feb. 1 5 , 6.95 Timken-Detroit Axlo Co. (par $100) 7 Q"r- Mar. 1 8.99 Descriptions of any of the above issues' will be sent to you upon request. Complete January Offering will be sent upon request for PE-'J75. ' j The National City Company Correspondent Qfltew Mora TAon Fifty CUica Philadelphia1421 Cbetnut St Atlantic fCity Chnlfonte Block, 1225 Bowdw&lk r i Philadelphia 1 iff f mrr .- ,M ,V A J.al V PTTp " "HH miiMZ .. .. ..,... -, HWlMMMBfr! I "BtrnHaM Ml