J 'b t4 J ,1 y EVENING PUBLIC LBDGEK PHILADELPHIA, vWDNteSDAtf, JANUARY 20. London stock market Shell Transport to 11 11-10 and Mex ican Eagles to 10&. Ilubbcr and Industrial descriptions were weaker In spots. The gllt-cdgc section was firmer on easier rates for money. - Comptroller Issues Bank Call Washington, Jan. 7. The comptrol ler of the currency today issued a call for the condition of all national banks at the close of businesi on Wednesday, December 81. DIVIDENDS DECLARED Federal Suear Kilning Co , quarterly nt 1 per cent on common and 1H per cent on preferred, pnabl reoruary S to stock or record January SI American Mitht and Traction, quarterly of 2V4 Pr cent In cash and a dividend nt rale of 2i shnres of common on e"ry 100 harts ,of common and quarterly of 1 't. per Mjv'tvf'f3n M, Write for Information Regarding BRITISH-AMERICAN CHEMICAL. . tlt'Edged Section Firmer on Easier 'Money Rates Home Ralls Flabby i3Uidon, Jnb. 7. Irregularity cliar- rUcd the trndlng lu securities on otock exchange today. There was rent on preferred, nil pavapie I eurujry ; sioca or. recnm January 10 . Hercules Ponder Co, quarterly of l?t .perl 2l2 Cash and 10 Stock Dividend nc declared Jan. 2, 1D20 Ak for Circular C-l-4 FRANKLIN AYOES Share mill Bond nroher ' 1021-23 Drexrl Uldc. I'lllln., Tn. Correspondent, I.. 8. llogcr. & Co., Members of Consolidated, Stock Excliahge of'N. Y. Krec from Slate Taxes, and Compulsory Declaration under Massachusetts Income Tax Law; also exempt from State and Local Taxes in Connecticut, Vermont and New Hampshire. Exempt general disposition to wait or the CKtloa of the railway men on the cent on preferred, pavaoie reoruary n to tockholdera'of record February ft. Cupey Bussr Co , semiannual of 8 per cent on common and 3lj per cent on preferred, both pajahlo rebruary 1 to stock of record January 15. ... ...... Union Oil Co. of California, nuatterll Jl f0 and an extra $1 both pajablo January 21 to stock cf reurd January 10 i i irom Pederai iNorrnal Tax. 41,500,000 A. L. Sayles & Sons Compsuny (MASSAOUUSETTS COBrOBATION) 8 Cumulative Preferred Stock Preferred or to Assets and Dividends Dividends Payable 2 Quarterly, February 1, May 1, August 1, November 1. CAPITALIZATION tiZjidTtrnmeiit'B wage offer. Home rails &i'V$ V flabb. K i c.. ... .... VA After selling off the oil group rallied, ,' vr - nuiiiiiiiuimiiiiniimnnniHiin"11"1"11111111 ' tn -iiiiiiHiiMiiiiiHiniiiiiiiiiiiimmimminiijiny a B, BSi K5j twv . fy n Ftf, fr, 3 U Tl h ::f- s k WV vc fcB H o Fv it t INCORPORATED The Philadelphia National Bank Philadelphia, December 31. 1919 RESOURCES U. S. Bonds and Certificates of Indebtedness $6,899,550.00 Loans, Discounts and Investments 1 04,028,065.30 Accrued Interest Receivable 250,383.47 Customers' Liability Under Letters of Credit and Acceptances 16,398,947.87 Due from Banks . . 28,666,009.97 Exchanges for Clearing House 1 2,846,896.78 Cash and Reserve 13,989,828.93 $183,079,682.32 LIABILITIES CapitalStock $3,000,000.00 Surplus and Net Profits 8,304,005.44 Unearned Discount 630,839.06 Reserved for Taxes and Interest ' 814,774.94 Letters of Credit and Acceptances 1 7,943,627.41 Acceptances of Other Banks Sold 5,232,431 .00 U. S. Bond Account ' 823.850.00 Bills Payable with Federal Reserve Bank Secured by U.S. Bonds 7,800,000.00 Rediscounts with Federal Reserve Bank Secured by ' U. S. Bonds 18,348,795.00 i Individual $81 ,338,045.79 DeDOsitS Bank 34,724,245.34 F U. S. Government .... 4, 1 1 9,068.34 1 20, 1 8 1 ,359.47 $183,079,682.32 LEVI L. RUE, President CHARLES P. BLINN, Jr., Vice Pfes. WM. S. MADDOX, Vice Pres. HOWARD W. LEWIS, Vice Pres. HORACE FORTESCUE, Vice Pres. O. HOWARD WOLFE, Cashier DIRECTORS: Pierre S. duPont Aca S. Wing Samuel M. Vauclain William H. Donner Wallace D, Simmons Samuel D. Warrincr George Wood Alfred C. Harrison Levi L. Rue George H. McFadden Randal Morgan Samuel Rca Eldridge R. Johnson J. Howard Pew J. Kearsley Mitchell Henry G. Brengle S. P. Hutchinson G. Colesberry Purves Under Management of Day & Zimmermann, Inc. Penn Centra! Light & Power Company's Transmission Lines Run right through the middle of some of the richest coun ties of Pennsylvania, paralleling the main line of the Penn sylvania Railroad, with its stations and substations located in positions of strategic importance. rv5? iiJefc ty A POVVIR PLANT A GAS PLANT B SUB-STATION TRANSMISSION LINES RAILROADS 1 c licrry Tree 'J Uarnun'a Mill 3 Harnsboro 4 Spanslsr 5 Hastlnce (1 Vat I on 7 HI. tbintdlct Substation 8 Haker Town 0 Oarrolltown JO Vlnlondalo It Twin Kork bubstntlon IS Manly Olo Substation 1 1 r.lirenflrld n Sumnierhlll 10 Wllmorn 17 Beardal 18 Portate buUslalltm 10 Lilly 20 -Cresccon 8ubtallon 21 Dradlrr Mine 'i Ciallltiln 23 ArnBbry 24 Aehellle Substation 25 DeUney 28 Mlonni 27 toIlhiMllle habitation 2K Duncans villa 29 llolMUaiBburE V) llorrell .11 UllllamKhurt: 3J Tirono bubstation JW tnlou furnace It Alexandria 35 Petersburg 38 Murrlor IlldtP 37 Huntingdon Snhslatloa 38 Mt. L'nlon Substation 31 Vines ard Substatlun 10 McVo) town Substation 41 Bellavtlle 42 Granllle 43 Lrnlslown 44 Kurntmm 45 Yeasertown 40 Reedavlllo 4T Mllrcy As with art army, wheie all is dependent upon Us base of supplies, so with an electric light and power property, the location of whose stations and substations is a deter mining factor in its Buccess or failure. As indicated on the chart, the stations and substations of the Penn Central Light and Power Co. are located in positions of great strategic importance. Close to sources of supplies and centers of population, they can operate with a mini mum of expenditure and maximum return. Brown Brothers & Co. Fourth & Chestnut Sts. Robt. Glendiiraing & Co. 400 Chetnut St. W. H. Newbold's Son & Co. 511 Chettnut St. Frazier & Co. Broad & Sansom Sts. 1, rrVANriAii TO Till'. STOCKllOl IIEKS OF TUB HITT15M10USE TUUST CO. rblladrlphln Notice Is hen bj Blven that & Special Meetlne or the Stochhold-rs of tho Rltten houie Trust Co , pursuant to a resolution ot the Hoard ot Directors, adopted at a regTi .ar inectlnc on Noomber 10, 101B. vrtll b. held on Monday. January 19, 1020, nt noon at 1323 Walnut t . Phlla., r.. tor th purpose of approlns or dlsapprovlnc a pro posed Increase of the capital stock from two hundred and fifty thousand dollar! (1250 uOO) consisting of fle thousand shares of the par value of fifty dollnrs each, to fHe hundred thousand dollars (1500 000). con. slstlne of Ave thousand shares of the par val'i of on hundred dollnrs each 8. W. WATERMAN, erretarr Sneelnt Notlre rrs. THE VETER&lirnO GAS COUl'ANY ilS&jinxT MoiiTiiE riE i-KB CENT IIOMJI. DUE 1031. Pursuant to the prolslons of the Sforl iraire of The l'eterftbure (lnt4 Comnum to The Ileal lXnto Tmt Company nf Phlla. delphli, Truitee. dated April 1 1001. secur inr n issue of $230 nno 1'lrst Mortcuee rive Per Cent Dondn tenders of euch Honds at i price not exceedlnt! 101 and accrued interest, sufficient to absorb the sum oT tsooo th amount paab!o to the tUnklnc Pund April 1 neit will be received by tile Trusteo at Its ofTIco southeast cornvr of Uroad and Chestnut ttreels Philadelphia PenntM anla until 3 p in on Jnnuurv 14. for sale and delivery on April 1 M-0 nt which data in.rr.t on ntpepleil Itond. will rese THE Pl.Ttin'.Rl VttJ QAS COMPANT. Ily W I 1 OX Secretary Annunl Meetlnes 2r THE HE VI, ESTVTE TUtlsT COM IM.M OF rillLADELPlIIV Januiry 0 1020. The nnual Meetlnft of the stockholders of thle company will be held nt Its bulldlnK southeast corner Broad and Chestnut streets on Tuevlav. 4nmiir 13. 1020, at 11 o clock a m at which there will be an election for successors to thoe directors whose terms then expire ind such other builneas will be considered and acted on us may be brought before the meeting A1LLIAM n WI'MEn Secretary. JKTHE lM VI. UhMIMi 41 THE fontrlliutors to the r.len Mills schools will be held on Vednedai, Jnnuarv 14. 10-O, nt 4 o flock p ni . at the ofHr of tho Olen Altlls Schooli 201 bailey Hulldlns 121s rhestnut etieet The annual report of the board of mnnacers wil bo submitted and an election will be held for officers for the ensuln? ear and six managers to serve for thrto jear EDMUND O 1IAMFRSIT Secretary. PhllartelnMa Januarv r. 102O 'X?rTIIE AM'AI. MEEHMi 411" THE 3 Mofkholder-' of thf l,ehlch Valley Coal l! Co will be hell -t .No 11 V. nn?e nlnoe terev Cll J on Mnndv Innnarv 20, 1020, at 11 o clock a. in for the eltction of one director of cli.i No I and for the transection of such other busi ness as mas properly come iwfore the meet ing W J UI'HTOV Secretarv. IjSSja JOHN .1. FEI.1N 4 CO.. Inc. is Philadelphia Januarv Hlh. 1020. The anni'il meeting of thn stockholders of Tnhn J fVlln &. Lei lnc will be held In the office of the company 4152 Oermantown ave . on Mnndav, Innnnrr 12. at 10 a m , for the election of directors to serve for the cnsulne 5CSr WILLIAM D IlEILLT. Secretary r-?i PKNN VS7 wiiiinvs tSr Asvi.TJM kir iNnir.Evr AI) SINdl K WOMEN K. Ntisqncniinin .ve., a. nntrriide t.. I'hllii. The Annual Meetlne of the boaid of man n?er board of council and Rubserlbers will be h-ld at the Instltntlou Thuridav, Janu ary 8, at 3 p. m Election of officers at this meetlne SUSIE A. DOUOHER. Secretary. THE ANNUAL, .MEETING OK THE stockholders of the lV.inLtln iv.. Co. of Philadelphia will be held nt the office of the comoanv 20 end 2J South 15111 street on Wednesday. lanuarv 21. 1020, betHeeu the hours of 2 p m and 3pm at vrhicli time and place au election will bo held for til rectors to servp for the en.uine nr A B DAl'PIIINLE Secretirv IKSTlli: ANNU.VI. .MEETING OV 1111" contributing members of the North eastern Hospital of Phihidelnhla will be heir) nt the hospital corner Tulip street and Uleciheny avenue on Tuewlar, Januan 13. at 3 n m Election of members of the board 1 of managers aul other nece&9ar bu.lness DAVID D LUPTOV t Secrelart jr I'KVMvLIN NVTIONVI, HAMS - Chestnut Street west of Uroad t Philadelphia December -1 1 iln The Annual MeetltiF of the shareholders f tills bank for the election of directors to serve durlnt the cnsulne vea- will be held ih. b.inkinsr hcu on liifulnv. J.n.. .. I02O. between the hours nf 1 o clorit noon I an! 1 v m T VAt IfAHDT iH.Bl.e I 'K55u"r',r' C"' MEETING 01' IIIF I ' .tockholders of the Philadelphia ui,ni calo Drnc Compinr. C1V47 4D North Uroad I "'" 1 Mii.iKiiiu. io"ii c ,"va Juesdav ririim. ii.ijii.i " u " 11 n p jfj Itoseoacn c. i.u ivonn niu street T POLLARD tecretar at. &d2it r- J k . N ' N.' .k. V JKT (SC Qr--A;' fw n r hn 1 ti ihl sf f ri -Jtalrfsr, "y-j x. r r y n j"TEr v -V 11 17 .. it-5notice 1 nnnruY given or v K& Annual Meetlnir of the rtallruad Mu. lual Insurance and Inspection Company at tho ofiljo of tba Companj, 4.' Walnut btreet, Philadelphia .lanuarr 22, 1020. noSn C n JENNINGS Secretary ' 'KSTHE ANNUAL MEETIJ.G OP TlTf t- Morris Vnlmal Itefucre vvllj t ,".': at 1242 Lombard ttrett on Mondav, Jannirv It. h 12 o clock for the election of off re's ' snd su h other buslne-s as ni-vj come brforc & I1VM M'L'TIIM VRIv NVTIONVI. Phlhldrlnlili. Pi The Viinual Election for n'rerfir.- r ,.. 1 ink will b held at the binklnrr I iu .Jin Tuesday. Jantlao nth, 1020, between the hours of 10 o clock a in and 12 , rin, k ,,, Ir 11 W EUT ( alncr Dividends PHILADELPHIA COMPANY DIVIDEND NO. IliJ Pittsburgh Pa Junuarj 3rd 10.0 A quarterly dividend of eevontv rne tnt8 per haro (being one and one halt per cent tlWi on tho par value of J50 a urc) on tho Common Mo'k of this Companv has this dav bceu declured inablo January 31st 1020 to stockhoIderM of iciord January 15th 1020 Checks will be mailed. 4 '"'""'WinB C J Jr Treasurer JOHN J. IT-. I IN A CO., Inc Philadelphia Jan ,', in"n The directors of John .1, lVIln A Cc..'iilr at their meetlne held this day have declared' an annual dividend of 10 per cent on th omnion stock of the companv and Hi. r. J,, lir quarterly dividend of 1-T.j per "ent on the preferred stock payable Januarv n in stockholders of record January Hi Lheck will be mailed ' l necks WILLIAM D REILLY Fecretary N V riONAL MCl'KITV "vm7 Philadelphia, Jan 11 i'i;0 Th directors have this da declared h semiannual dividend o tivelie (12) cirr ,.( naahle on demand w "' "1 lial j.-,n 1100 no SurillUS 1 c-.Cl CIA. r... I Undivided profits l'iI 4STKT - mt' ' .NQ K. w Office of The United Gas Improvement Co N wi,S,?ri "rnau "nd Vnh Streets ' Philadelphia December 10. 1010 The Directors havo this day .declared a quarterly dividend of two per cent m.oo per share), payablo January IS, 1020 to stockholders of record at the cioso of busi ness December 31 nifl Checks will b, mailed J W MORRIS. Treasurer PVKTNntSHIPh (r5S NOTICE IS IIEREUY GIVEN TITAT "- the corporation known as the Ger. tnantown Hplnnlnr Co,, exlstlnv under the laws of the Commonwealth of Pennsylvania b proper action of Its stockholder ceased Its corporate business on the Slst dav of December. 1019, and proper action will be taken In due course for the dissolution thereof All claims asalnst the corporation should De presemtq promptly l us office The uncJersldT.eil as a co-partnership under the namt of Germantown rlplnnlnr Co. will continue tho business of the Girmantown Etplnnlns Co. under the management of Prank U Patterson nd Oscar W, Wood, mtnaflna p&rtpers: FRANK B. PATTERSON. OSCAR W. WOOD. Jl. n. PATTERSON. ROBERT PATTBUPOM, " r. JLJHiiSMJ. Authorized 8 , Cumulative Preferred Stock (Par $50) $2,500,000 Common Stock (Par $25) $2,500,000 The Corporation has no mortgage or funded debt AMERICAN TRUST COMPANY, BOSTON, Transfer Agent Outstanding Including this issue $1,500,000 $1,328,000 From a letter, on file with us, written by Mr. Albert H. Sayles, Treasurer of A. L. Sayles & Sons Company, we summarize as follows: BUSINESS A. L. Sayles & Sons Company has succeeded to the long-established and well- known businesses of A. L. Sayles & Sons, Inc., and Fred L. Sayles Company, of Pascoag, Rhode Island; and Sayles & Jenks Manufacturing Company, of Warren, Mas sachusetts. The Company is a large manufacturer of woolens, worsteds and cotton worsteds, with an annual capacity of 2,700,000 yards of finished goods. This Company is the direct outgrowth of one of the first woolen mills established in the United States, by Daniel Sayles in 1814. ASSETS SALES AND EARNINGS SINKING FUND TheCompany has Net Working Capital alone of $921,330.53, equivalent to 61 on the Preferred stock outstanding; while Total Net Assets, after deducting all Liabilities, arc,$3,371,615.57, equal to 224 on the outstanding Preferred stock. After deducting the outstanding Preferred stock, remaining Net ABseta are $1,871,615.57, equivalent to 140 for the Common stock outstanding. Although the Company is the successor of a business which has maintained an unbroken and highly successful record for 105 years, it carries no value upon its books for Good Will, or its valuable Trade Names. For the three years ending December 31, 1919 (two months estimated), total sales amount to $10,047,438.55, or an annual average of $3,349,146.00. Net Earnings for the same period total $1,221,004.94, or an average of $407,201.00 annually. Net Earnings for the four months ended October 31, 1919, were at the annual rate of $669,000.00. It is conservatively estimated sales volume for the coming year will aggregate $4,500,000, with .Net Earnings of $700,000, equal to more than five times Preferred divi dend requirements, with a balance of approximately $580,000, or 43 for the outstand ing Common stock. The charter of the Company provides that after the payment of 2 quarterly divi dends upon the Preferred and the Common stocks outstanding, beginning February 1, 1921, 20 of the remaining Net Profits each quarter shall be used to retire the Pre ferred stock at $55 a share. We own and offer A. L. Sayles & Sons Company 8 Cumu lative Preferred stock, subject to prior sale, and reserving the right to allot a smaller amount than applied for, at $50 a share, to yield 8 Hollister,White&COe IUCOBBOATD North American Building PHILADELPHIA 50 Congress Street BOSTON Third National Bank Building SPRINGFIELD, MASS. 10 Woyboset Street PROVIDENCE, R. I. All slateinrntct contained In tills offerlntr, whilo not caaranterd, nre secured from sources which we retard as oeeurute and reliable jnd upon which te hae acted In the purchase of this Issue, UK&Ws? y?CvWSvs..YK 2S1 iwvasxtr? ! Continental- Equitable Title a Trust Company Twelfth Above Cheslnut, Philadelphia Capital $1,000,000 feurplu 1,000,000 Ovrr 910,000,000 Deposits December 31, 1018 ASSETS Loan, on Collateral SS 22 Mocks anu uona . . -; United States Certificates of Indebtedness Mortg-aKee . . nh on hand, tn Uanks and Ileserve Securities . Ileal Kstate (Including . W. cor. 12th i. Market Sts ) Accrued Interest Furniture and Fixtures (Including bafe Deposit Boxen) MUtellaneous LIABILITIES 3,075,878 65 517,000.00 833,040.00 l,IO,SUl.n7 757,631.03 8,0855 23.fU0 65 21,548 39 $13,077,905.30 Capital Stock Surplus ., t'udlTtded Prollts . . . Contingent rteere . . Dltldends Unpaid . Heserred for Taxes, Deposits mils Fuyable Miscellaneous 1,000,000 OO 1,000.000.00 311,718.01 50,000 00 G05.00 10,608 26 10,203.106 04 . 417,000.00 i 16,687.00 $13,077,905.30 OFFICERS John F. SseUr, Preildont WlllUra 3. Fitreatrlek, Aut. Eer. lereroiib J. Sulliwi. Vtcx-Preutleiit John F. MoMeturaln, Ant. Treuursr loha M. Csmpbsll. Vlo.Priclent Henry F. StltMll, Trust Oftlosr John R. Unrated, VlM-Proldrnt Henry M. Keller, Title Officer John Y. Loushnej, Secy. & Trees Joseph Mulon, Seal Ettita Offleer tdwiril T. Smith, Ant. Seer, i Treu. Brown V WUtiuns, Counsel DIRECTORS Witsoa X. Aloott Cbules 0. Drnedlnc Joan F, Blcelly EdWd F. Reel. iViS3 '".mlsh J. SulUrs. Alfred E. Burk John J, Henderson Joseph O, Triiner John H. CsmpbeU tKjlP.rr O, Loyshlln John R. TJmstecl James U Dsfy ylu"J J MoOllaa Aubrey It. Welrhtrflsa Ibomss Berlin Peter F. ICorUn, M, D. Irs Jewell WlUUms We Invite You to Test the Meaning of Continental-Equitable Service TAX FREE MUNICIPALS EXEMPT FROM ALL FEDERAL INCOME TAX $45,000 ArJamt County, Pa., 4V2 to return 4.257 45,000 Columbia, Lancaster County, Pa., 5s. ..." " 4.20-5.00 59,000 Up. Darby Tihp., Delaware Co., Pa., 4u " 4.35 17,000 Tinicum Township, Delaware Co., Pa., 5t u " 4.50 62,000 Throop, Lackawanna County, Pa., 5s .... " " 4.50 451,000 Essex County, N. J., 434. " 4.45 130,000 New Brunswick, N. J., 4$ " " 4.60 195,000 Collingswood, Camden County, N. J., 5.." " 4.65 65,000 Bogota, Bergen County, N. J., 5y8s. ..." " 4.70 23,000 Audubon, Camden County, N. J., 6s " " 4.80 75,000 Fairmont, West Virginia, 5s " " 4.85 Full Parlieulars Upon Request EOT. M. FREEMAN & GO. 431 Chestnut Streot Tel. Lombard 710 711 PhiladelpMs 1 V.K I Ls4aiIS8088 1 ' WE TAKE PLEASURE IN ANNOUNCING THAT Mr. Walton Clark, Jr. HAS BECOME ASSOCIATED WITH THIS FIRM r Martin & Go. INVESTMENT BANKERS 1411 WALNUT ST. ffi Wc maintain a special department far the convenience of Liberty Bond customers Liberty Bonds Bought, Sold and Quoted Call, Phone or Write Liberty Bond Department West & Co. 1417 CHESTNUT STREET Bell, Spruce 250 Members - V,IY, 7?r& IW S"Jant Keytone, Race 2900 Philadelphia btoclc Exuhang. We Alwaj-s IIne on Hand a List of High Orods Bonds Correspondence Inrlted Fuel Regulations A .,nt fTrrt lTii.nllfnrtcirj.ri. tn SAIII.T STFL MARIE. MiclllKnO. f plant in thnt city operated full time during tho recent col ttrike. WWl Because they use Hydro-EIectric Power, which is now turning ,u,y?tJ and factory wheels thero. Power companies in that city have W irjwuoMiu n. r. aaaittonai on tho mantel tor me oniorpnsiiss,v facturer who take advantaga of this opportunity. Rates Reaionaci SAULT STE. MARIE, key port of the Great Lakes, ha. unexcelled lr I ities, both lake and rail, and U never bothered by railway congestion l embargoes. AJJ rrXAlllCrr1 At AeenitArlriKl e..l.i Q noIt WtllIUVf1l-l tjKwifi vt , ijamu fJio,,, micitiKan iMorthern rower y.o, or Cdnftn pu KEUctrioCd.S TOAtfCsW TA .TTTS) R80K, ,-r. , : T 1 u 4 tt a 11 tf, V' (!T Tvl IK, 2 k.' t iji " -m