? i (v . F , ? V 't ! r .' u It li If t i 1 - 1 ' K i. ' JBOHTRACtlON OF LOANS IS URGED s$ rly Liquidation of Bank Credits to Strengthon Reserve Position afjf nnnnl tn nrtiitnnWri nf , f 'Hre3iiry credit 1 made by K. P. ,"w3rinnrp, jtovernor of Uip Kmlernl Ur , Vrvn Dank of Philadelphia, in n lot . ' Wr, t6 the oflWriirpf the banking In- 'Witatlons in the Thinl Federal Reserve ' j.Tbistrlct'mniled lt night. C l' w Governor Pawmorc points nut tlint A?' , ndranlnpc should bo taken if nrrurmt- i-,vIsUob8 of money which take place at the .tret of the year to bring about or- derly liquidation of bank loan in order f '..i Nv ' W .... S V " . 7 .. EVENING HJffiTO Etf& rAmrY :ii . that the reECtve position In, this dis trict mny be strengthened, and that thcbankers use thslr influence to. dis courage wasteful spending, reckless speculation and unnecessary credit In flation. (Sovemor Pasimorc's letter follows: "The distribution of tllvldcndi, In come'? and other accumulation1 of money which takci place at the first of the jear, normally brings Increased reserves and easier money conditions. Therefore, it seems mi appropriate time to bring to the attention of the offi cers of banks the 'great opportunity they now have to perform an Impor tant public service ; in fact, n real duty Ucm upon them to tnke advantage of such more plentiful supply of money to bring about orderly liquidation of bank loani in order that the reserve position i M- dtotrlct may be materially strengthened. ".ioue rates arc such as to tempt continued expansion of loans of a spec ulative enamour, and r, therefore, appeal to your s?nse of patriotic duty r. V 'ft? ytf ' MIIUIUUIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIllllllllllllllllllU Too Busy to be I Pessimistic Europe needs large loans, but not as large as she thinks she needs. America will help those countries that GET BUSY. Here prices will right themselves and still leave fair profits. KEEP BUSY. Most of our problems solve themselves. The fogs of despair all over the world are gradually giving way to the sun of opportunity. KEEP BUSY. In Metropolitan Philadelphia there never v were greater opportunities. GET BUSY. RESOURCES Loan and ments .... Inest- 155, 017,056 78 Capital Surplus December Slat, lSlf. I.IAnlLITIES .t :, 000,000.00 Due from BankBMU-tll. 050,744. 11 Clearing: uouse ex changes Cash and Reserve... Customers Liability under Letters of Credit and Acceptances 2,860,143.3: 6,171. 087.:0 S.770.H7.4J M3.88D.0OI.93 and Net fronts 4.J61-JJ.15 Unearned Discount . 28O.092.SS Reserve for Taxes .. 223,870.61 Circulation 190,400.00 Deposits 48,630,037.35 Letters of Credit and Acceptances 9,S0,811.77 Advances from Fed eral Reserve Bank 18,433,506.51 (83,809,801.95 JOHN J. MacDONALD WILSON CATHERWOOD WM. L. SUPPLBB THOS. J. JEFFRIES JOSEPH H. PARV1N WM. H. FOLWELL WALTER A. BAILBT CHAS. S. CALWELL FRANK It. MOSS DIRECTORS OKO. W. B. ROBERTS MERRITT N. WILLITS, Jr. LOUIS R. PACE WM. II. HARDINO DAVID C. BRADLET PAUL THOMPSON IRA VAUOHAN ALAN D. WOOD OFFICERS CHAS. R CALWELL President M. N. WILLITS, Jr. Vice-President THOS. J. JErFRIES Vice-President NBWTON "W. CORSON Cashier ALLEN t. MATTHEWS Asst. Cashier ALBERT N. 1IOGO, Asst. Cashier EDWARD T. JAME3 Asst. Cashier EDWARD J. PAUL. Asst. Cashier Corn exchange National Bank 1 PHILADELPHIA Chestnut t Second Stiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiimiiiiiiiiiiiiiiiiii? ra 4 1 iCUARTERi " T 1 t! 1U. 1 T i THE FIRST BANK CHARTERED UNDER THE NATIONAL BANK ACT First National Bank of Philadelphia 315 CHESTNUT ST. Condensed report at close of business December 31, 1919 RESOURCES Loan and Investments $42,750,386.01 Customers' Liability for Acceptances 1,346,802.66 Interest Earned but Uncollected 55,968.23 Due from Bank 9,819,364.57 Exchange for Clearing House 4,362,417.15 Cash and Reserre 4,838,384.40 1 ' 1 J J ? M it". t m n n fi! H v ,fl m :jv a Total $63,173,323.02 LIABILITIES Capital $1,500,000.00 Surplus and Undivided Profit 2,278.103.36 Interest and Discount Collected but not Earned 205,799.73 Dividend No. 144 45,000.00 Reserved for Taxes, Interest, etc 513,494.61 Acceptance Executed for Customer 1,346,802.66 Rediscounts Federal Reserve Bank. ....... . 2,112,660.00 Bill Payable (Federal Reserve Bank) 10.975.000.00 Liberty Bonds Borrowed 600,000 00 Deposits 43,596,462.66 Total $63,173,323.02 WM. . LAW. President KENTON WARNK. Vlre Pres. HARRY J. HAAS, Vice Pres. THOU. Y. ANDREW. Cashier CHAS. II. JAMES. Asst. Cashier TARI. II. CHAFFEE, Asst. Cash. HOWARD D. SOHDON. Asst. Cash. y.W.Aer Gluts. 0. Child Joseph r). Clark WHan Clark Ore H. K Ooil DIRECTORS Franklin D'OUrr Wipiam A. Law William P. CJst , Joseph II. Me Call Hydnry E, Hutchinson Fred'V McOwen, E. C, Irvln ' "n'' S'MHerrood I.lTlBtn E, Jones J. W . Van Dyka to forego for the llmo being the intura' desire for increased earnings, and lend uur Vtent influence to thb exclusion of loans ot questionable propriety, so' that banking institutions generally may be nble to maintain a strong position to meet tl.e umiual legitimate demauas likely to be "made upon them. "While the treasury department is coming to be less and less of a predomi nant factor In th.c mou,oy market, the cnlli. for nsslstnncc In the restoration of Uuropc arc insistent, and for hu nutnitiirian reasons, as well ns for our own economic welfare, brins the oblign. Hon to cconomlw in our own consump tion and expenditure, in order that we may render effective help. "The problems ahead of us, although different in clinracteT, me quite at Im portant ns those of the past,. and are increasingly difficult to manage, as the concentrated control of the war period is gradually relaxed. Therefore, at the threshold of the new year, we appeal to jou to contribute jour full share of forward vision, clear thinking and con structive administration, to the end that wasteful spending, reckless spec ulation and unnecessary credit infla tion may be effectively discouraged, co the untold benefit of tlic general situation." Philadelphia Markets GRAIN AND FLOUR WHEAT Itccelpts, 4708 bushels. The market was Arm at forfr.er prices, but trade as nuut. Quotntlcnt were as follows: Car lots. In export cleator, eovernment standard Inspection, standard prices. No 1 red win ter. J2 30, No 1 northern spring:. 2.80: No 1 hard winter, J2 30, No 1 red winter, carllcky, -2 37. No 1 red smutty, J2.30: No. 1 rod garlickv and smutty, J2 34, The united States Grain Corporation's purchases of wheat are based on the following- schedule of alrcoui Is. No 2 wheat 3c under No 1, No 3 wheat lie under No 1, No 4 wheat 10c under No 1 No 3 wheat, 14c under No 1 CORN IVeceipts. 0128 bushels, demand was light, but supplies were email and prices ruled firm We nunte new. an in nuntltv and location, at 1 S801 B5 the latter for o o enow. CATS RrcclrSs, 1803 bushels Trade was quiet with no change In prices Wo iuoit uar 101s as 10 location 70 2 white, lidH 07c. No 3 white. 0S0514c. No. 4 white. 04SO4Wc P1X)UR Receipts. 200 barrels and 1,471.- m pounus in sacKS xrnue was moder. atelj acthe. with nr'ces firm Quotation. per 106 pounds packed In 140.pound Jut sacks Soft winter stralBht wetem $10 80 iffii, co. uo. nearov jio.owtrr 111.70: nard winter stralcht. 13 .S0C14. do, short pat ent. 14.2514 50. sprlnsr flrt clear. $10 78 011 28. do patent, J14 0015 25: do. short STEVMSIIir NOTICES flf Datent. J18.00W10 25: fancy sprlnjr und city m,i!;. Pl?nt- family brands. il0.2SO16.B0. RYE PLOUll was. quiet but nrm. Quo tations. tin.25C(10.80 per barrel, in sacks, as to quality. - PROVI8IOM8 There was a moderate Jobbing movement and alues wera well sustained. Quotations: Beef. In sets, smoked snd nlr-drled, aid beef Knuckles and tenders smoked and air dried. 54c: pork, family. 34; hams. H. P. cured, loose, 2H27c: do, Bklrtrled. loose. 242lc: do do, smoked. 23027c: hams, boiled, boneless 40c; picnic shoulders, H. P.. cured loose, 24ci do. smoked. 25c: bel lies, In pl-kle. looss. 26ci breakfast bacon. .2t. lard, 27c. DAIRY PRODUCTS DUTTER Tho market was weak and un settled and prices were 2HQj3a lower. De mand waB light. We quote: Solid-packed creamery, fancy, high-scoring' goods, OS 70c: extrss, 07c; extra firsts, fit 00c: firsts, 5861c; seconds, 85S7c.jL fold stor age creamery,, as to nuallty, S5i05c: sweet creamery, cholco to fancy, (10tlc; fulr to good, 808Sc: prints Jobbing at 75077c for fancy and at 0174o for fair to choice EOC3S The limited receipt of nno new laid eggs were promptly cbsaned up at firm prices. Quotations: Tree cfttcs. near by firsts, S23.70 per crate: nearby current receipts. $23 10' western extra firsts. J21.70: firsts, 122.20023 10: nearby and western seconds 110 8021.30. oold-strags eggs, as to qual.U, tl4.10l 80: Inferior lots loner: fancy selected fresh eggs Jobbing at 8B01c per dozen CHEESE Flue hold goods were well cleaned up and firm, but most ot the ar rivals of fresh-made goods were poor in Quality and Irregular In alue Quotations. New York whole-milk flats--Hcld. fancy. 33c. fancv held, specials higher: held, fair to good 32M82ttc. fresh-made, best 32 32Hc?do fair to good 3iesiV4ci W'cno sfn whle-mllk Hats Held, fancy. ,32H 3Sc: held, lair to good . 31'4 32c. Jobbing sale of fancy held goods. 35tf30c. POULTRY LIVE The market ruled firm with de mand absorbing the limited offerings offlne dcslrable-slzed stock. Quotations: Towls. nna fat weighing 0 lbs and owr apiece. 33Sc. 'ccceptlonal lots higher, fowls, me dium size, good Quality. 3JJ4c- do poor. 230c. broiling chlckenj. fancy fott meated weighing 1U2 lbs apiece J6O 40c: spring chickens. aerage soft-meated 88 ft 34c. exceptional lots higher, do. In ferior. 2ff 30c; old roosters. 2223c- ducks, white Pekln. 38040c. do. Indian Kunner. 34036c. do. Muscovy. SO03JC! geese. ,l .0c: turkeys. 88040c; pigeons, old pair, 40W 45c: do "oung. per pair. J104iic: BUlneas.' young, per Pilr. weighing 2 lb,tt"-',P,v'vr iulcce. plump. $1.400150. weighing 1J4 W lte lbs apiece. $1 2001.30. weighing X & ivj lbs apiece. 9Oc0$l 10: culls. 5O07..r guineas old, per pair, S5cl. DRESSED Supplies of fine desirable, sized stock were well cleaned uti and the market ruled Arm and eeneralli higher Following tire the quotations. Turkeys Del aware and Marjland fnncj. "Oc- 'r; clnla and other neirby fnncs. 5II0S8C. do. nearbyT fair to good -10.-.1C. do western spring, fancv. 55 57c do. do fair to good 51 051c do. old toms. 45c. fowls !?,UC!nddro;?rCkaepd.ece? 3?c"Swelgeh,lBnhgn5 :is?',i'b;,;.3svsW0n,d?u'rV. Tassenger and Freight Service NEW YORK to LIVERPOOL Vauban Jan. 20 Carmania Jan. 29Mar. 6 NEW YORK to PLYMOUTH. CHERBOURG and LIVERPOOL Kaiserin Auguste Victoria. . .Jan. 17 NEW YORK to CHERBOURG and SOUTHAMPTON Mauretania. . .Jan. 28Mar. I0Apr. 7 Imperator r eb. l Apr. 3 May I NEW YORK to PLYMOUTH. HAVRE and SOUTHAMPTON Royal George.Jan. 24Feb. 24Mar. 27 NEW YORK to PLYMOUTH. HAVRE and LONDON Saxonia Feb. 7 NEW YORK to PATRAS. DUBROVN1K and TRIESTE Pannonia Jan. 20 N. Y. L'DERRY GLASCOW Columbia Jan. IOFeb. 7Mar. 6 PHILADELPHIA to LIVERPOOL Vellavia Jan. 1 2 Verbania Jan. 24Mar. T PHILADELPHIA to LONDON Vennonia Jan. IOFeb. 28 Mobile Late Jan. PHILADELPHIA to BRISTOL (AVONMOUTH) Vestalia Feb. 2 Doonholm Feb. 2 1 Pier 16 South i3oo wai-nut st.. PiiiiDF.r.rniA liul-lOC. II in 11 1 1 in 1 ssv s s - ' i " t-i 30 42c do. western, dry packed weighing IViO" lbs apiece 38040c. rmstlni rhlrk eVl. western, dn -packed in bbls we gh ng s Ihei anil o?r BDlCf. 34P--3t ' 'r1'-?; A lb, aplec" 31033c: weighing 2J, 03 lbs apiece 23.10c. western corn-feil chick en, "ft to box 17 lb, nj unnrr t" djj 34C 31 IO A- lira i" uuv... ... i-Kfi.-i .a 4S to 47 lbs to dozen, per lb. "lain ,c lbs and oer to do?en. 30037c ducks, west ern UncO 3S04OC. ;-dw:n,icfancy' 30032c do do, fair to good. 2oW-?c FRESH FRUITS Tho market was generally firm on .choice stock, with offerings moderate and demand fair Quotations. Apples per bbl . as to ouallty $400. do, per box. $1.5003 2j Cranberries per bbl. JO 5009. do. per crate. $1 500125 Orange,. California, per 5 00' Tangerines. Florida, per 4 -box. 1 bri 03 15 urapeiruji rwuuft, i,v. . -u VEGETABLES !!..- MintnA nf flnp onalltv were acain firmer. wlthsUpplle. well cleaned up Onions and taooaEB weio -; "-.-.--.- IS Willie POIUVUCT, . ci,iis),,.ii,ai kw . ' 91 nt(Fti An. New York, per cwt . $15003 75. ,weet potatoes, southern, per JS. li2 10- dc Jersey, per bskt . $1400105 Cabbage. New York and I Dan ish Der ton. $010110. Onions per 100 lb. Lacks! "ellSw. -Vo. 1 $0 210 0 50. Bank of England Statement Tnrinn. Jnn. S. The weekly state ment of the Bank of England shows the creased (141.000; circulation decreased 1,002,000; bullion decreased xui.twi; other bi'curities decreased 10,495,000; public deposits increased 2,2."i0,000; other deposits decreased 43.342,000; notes reserve increased 096,000; kov-nrn-mnrr: Rppnrities decreased 31.528.- 000. Tiie proportion o! the bank's re serve to liability this week is 12.20 per cent;-last week it was u.-'ti. State Bank of Philadelphia Fifth and Bainbridge Sts. STEAMSHIP TICKETS MALUM S.S. CO. STEAMER From Philadelphia Sailing About JANUARY 25, 1920 for i Marseilles and Genoa Apply to MALLORY STEAMSHIP CO. MEDITERRANEAN SERVICE 629 Chestnut St. Bell. Market 3050 Keystone. Main 220S New York Oftlce. Tlrr 36 North RUer lelepliuur. .Spring U80U EARN-LINE InerprstM 1M1 U. S. Shipping Board Steel Steamers General Cargo Regular Service Philadelphia Manchester SS "West Celina" Sailed Philadelphia Havana- SS "Coquina" Sailed SS "Lake Galera" . . .Jan. 17 For rates and particulars apply t Larn-LinebteamshipCo hiladelpbia. Pa. "Selected Investments ' We have preparedt un der this name a pam .phlet which describes briefly thirty-one repre sentative securities government, municipal, public utility and indus trial. Yields range from about 5J4 to 8. Send for a copy of this pamphlet No. E-57. Chandler 4 Gompahv Franklin Bnnk Bldg. Philadelphia New York Bos(6n FINANCIAL Annnal 'Klectlons fJTs- THE TENN SIUTUAt. tlFE INtfrTRAVPK rnWVAW T'hMnHlnhln At thft stated mnpHnir nt tn Ilnnnl nf Trustees of The Penn Mutual Life Insur ance Comnanv. held Januarv 7. 1020. the loiinwins; were unnnimousiv re-eiectea: QEOnOC K. JOHNSON. President. LINCOLN K PASSMOtlE Vlca President, WII.I.IAM M K-lVnSI.llV HnpnnH V1i- President JOHN JV HAMHH Third Vice President. JOHN HUMPHREYS. Secretary and Treas urer. J BUBNETT OIBB. Actuary. And the following were re-appolnted: JOHN V. HAMER. Mnnacer I.on lie. Darlment , hbniiy c. LIPPINCOTT. Manager of Affencles HARRISON H. Oir.t. SimervUnr nf Annll. cations rrd Death Claims. Kxvxnx a smith Assistant secretary. PAUL ALEXANDER. Assistant Treas. urer CHARLES HALL Cashier. GEORGE R WHITL Assistant Actuary OLIVER IV. PERRIN Assistant Actuafy CHARLES F SHANDREW. CotnDtroller. HENRY H. MAROT. Auditor. CHARLE'9 MARSHALL Jr . Registrar. vfinnKRip ti rjAnntniTF! xfai...n. tlclan. JJJU1H w. SiTEDBLB Assistant to the President HARRY TOULMIN. M D.. Medical Di rector. JAMES P. HUTCHINSON. M D , Assist ant Medical Director JOHN U. HORACir. M n. i.riii Ex aminer .HENRY K DILLAPD. Ja.. M. D.. As sistant Medical Examiner. .J;"V- vj'iAfjiAM. ii. o, Assistant Medical Examiner. GEORGE WHARTON PEPPER, Esq . Gen eral Counsel HOWARD COOPER JOHNSON. Esq . As sociate Counsel. JOHN HUMPHREYS. Secretary and Treasurer. ITSSTHE CENTRAL NATIONAL BANK a' OF PHILADELPHIA Philadelphia, December 1.1. 1010. Tho Annual meeting of the stockholders of the Central National Bank of Philadel phia 111 be held at the banktns: house N B. cor Chestnut and Mh streets, Philadelphia, Tuesdiy, January 13, 1020, between 11 am, and 12 m , for the ejection of Directors and for the purpose of taklns action upon an amendment to Article 3 of the articles of association, which treats of the number of directors to be elected at each annual meet Ins tho proposed amendment being as fol lows: "3. The Board of Directors shall consist "of not less than eleven or more than nlne "teen stockholders as shall be determined by "the Board of Directors prior to any regu lar annual meetlnc of the stockholders; of "this association the number so provided "for being continued from jear to year ' until changed by resolution of the said "board." and for the transaction of any other busl ness pertinent thereto coimAni Vice President. fCAPITAL$300,000.0Cm f SURPLUS (EARNED) 11 81 $2,000,000.00 J lfW" '" V""""""'"'!!" f I VWiAlh&SpringGardenry X5HIlADElPH!AjgS FLORIDA PHILADELPHIA JACKSONVILLE FA HE OVK WAV ROI'Vn TIMI' $27.55 pt'uu $49.59 Inrludln meals and stateroom accommoda tions. Steamer sailing every Friday 6 pn Salllnrs also to Savsnnah fls. Full Information on ecju-st. unrnT MrvFUs thanpv r Pier IS "" " r" 'r1 Te. loop MASTER Spanish, French, Portuguese Rapidly. Fluently, Correctly, by the DUBIN method Let V Demonstrate American Linguistic School Kstey IHdc. 1701 Walnut St. Spruce ll National Bank of South Africa, Ltd. 10 Wall Street, New York. R, E. Saunders, Agent Over 400 Branches In Africa Bombay Antwerp London TOMORROW may be too late. Why wait until January 21, 1920, the day which has been appointed as "Make-a-Will-Day" in the Program for National Thrift Week, to urge the people of the United States to make Wills and impress upon them the advisability of making provision for the future of those now dependent upon them? "YOU SHOULD MAKE A WILL TODAY." We are at your service every day and cordially invite you to consult our officials freely, without expense, about your Will, and to consider the advantage of appointing this Company your Executor and Trustee. "Make-a-Wii!" Proposals DFXAWARF. rOl'NTY ELKOTRItl COU- P.YJ.Y IIKT .MUIVJIi'tlfr. ovfl 1UIL.U BOND. DU15 .uiiui 1st. mju Notice Is hereby glen. pursuant to Article Third, Section 0, of the Mortgage to The Philadelphia Trust. Safe Deposit and Insur ance Company (now Philadelphia Trust Company), dated August I'd. 1000. that the undersigned Company as Trustee will re ceive soiled proposals up to 3 o'clock p. m. on the 3tl ilny of January. 1920. frr the snle to It of bonds as described above, at a price not exceeding 105 and accrued Inter est, sufficient to exhaust the sum of J2431.0B, preference to be given by the Trus tee to bonds offered at tho lowest price. The Trustee reserves tho right to reject any or all tenders Interest on bonds so purchased will cease on February 1, 1920. Prcposals should be directed as follows: "Proposals for tho snlo of fi Bonds of the Delaware Countv Electric Company, Phil adelphia Trust Company, Trustee, north east corner Broad and Chestnut streets, Philadelphia" PHILADELPHIA TRUST COMPANY. Trustee. Tv TOHV C WALLACE. Treasurer. Philadelphia. January 8, 1020 SEALED TENDERS will be received by the undcrslgnel until Tuesday, January 13, 1020, nt 10 a. m,. for the snle of as many Bergner 4. Engcl Brewing Co First Mortgage Gi Bonds, due 1021, as the sunt of X2S08 wl 1 absotb Privilege Is reserved to reject any or all bids MERCHANTS' UNION TRUST CO., JOHN S. BIOREN. Presldeht. 71.r-717 Chestnut st. PROPOSALS FOR. HANDKERCHIEFS Ot fice of the Quartermaster General, cloth ing und equipage division, Munitions Build ing, Washington. D. C. Sealed proposals, 1n dup'lcate, will be received here until 11 a m., January 31, 1020, for furnishing all or any part of 110,000 white cotton handker chiefs. Information on request. LMiiimiiiimmfimimiiimmimiimii INSURANCE 1 5 AGAINST Riot ,& Civil Commotion E Commercial Union Asturanc E Co. and E E Queen Insurance Co. of E E America E E WILLIAMS & WALTON E 416-420 Walnut SU, Phila. S TihiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiihhB 1817 1919 Fire Association . OF PHILADELPHIA N. W. Cor. 4th & Walnut" has given Us policy holders solid Indemnity for more than on hundrec years and has never been so strong financially as now. Have you a policy In this old and reliable Company? CHARTEK PERPETUAL MARKET STREET NATIONALBANK of PHILADELPHIA December 31st, 1019 RESOURCES , . I LIABILITIES Loans and Investments. . . w,v (D.zns.&a capital Stock Customers' Liability Under Commercial uera oi Credit and Acceptances 1,074, 574.46 Due from Banks 4,092,098.16 Exchanges for Clearing House 947,683 85 Cosh and Kesorve 2,439,346.35 $27,228,889.70 Surplus and Net Profits.. Circulation '. Commercial Letters of Credit and Acceptances Bills Payable Federal Reserve Bank Deposits 31,000,000.00 1,835,901.30 600,000,00 1,987,624.46 6,214,750.00 15,690,683,94 $27,228,889.70 FRED F. SPELLISSY, Cashier. tit.,' . JL.y-..'T . jAijirjA i M ! h , Is! h. TO YIELD 7.80 J. R. WHIPPLE CORPORATION (A Massachusetts Company) . i To Operate HOTEL TOURAINE PARKER HOUSE YOUNG'S HOTEL BOSTON, MASS. CAPITALIZATION First Preferred 7 Cumulative Sinking Fund, par $100 $500,000 Dividends Quarterly, March 1, June 1, September 1, December 1 Second Preferred 10 Participating, par $25 $625,000 Dividends June 1 and December 1 ' Common, par $10 $275,000 First National Bank of Boston, Transfer Agent BUSINESS AND MANAGEMENT These Hotels have been in continuous operation for from twenty to forty-four years Young's Hotel having been in business since 1876 and have gained a country-wide leputation fo'r high standard of service. The active management, which for many years has been responsible for this reputation, is financially interested in the Company. EARNINGS The earnings of tho Company for the year 1919, after operating expenses, taxes, etc., "will show First Preferred dividends over 7 times earned, and the Second Preferred dividends 2 times earned. SINKING FUND AND PREFERRED STOCK PROVISIONS Under the Sinking Fund provisions, it is estimated that the total issue of First Preferred stock will be retired in less than seven vears1. This stock may be called on any dividend date at 104 and accmpH dividend, increasing 1 each year until the price reaches 110 and accrued dividend. During the life of xne rirsi ireierrea stocK ine common siock cannever receive muiu man i.i-c in annum nmuenus. The Second Preferred stock receives dividends up to 10 per annum, and through its participating feature may receive up to lffe while any of the First Preferred stock is outstanding, and up to 2o thereafter. We offer for subscription, "when, as and if issued, and received by us" blocks consisting of 1 share 7 First Preferred 5 shares 10 Participating Second Preferred ' PRICE PER BLOCK: $250 AND DIVIDENDS ON BOTH ISSUES at which price the net yield on the investment will be 7.80 AH subscriptions subject to reduction, refusal or allotment. BAKER, AYLING & YOUNG 50 CONGRESS STREET, BOSTON, MASS. LAND TITLE BUILDING, PHILADELPHIA, PA. SPRINGFIELD, MASS. READING, PA. WILKES-BARRE, PA. This information and these statistics have been obtained from sources we believe to be accurate and, though we do not guarantee them, they are the data upon which we ourselves have acted in our purchase and valuation of the securities. We Own and Offer: $4,800,000 Allegheny County, Pennsylvania- 4Vs Tunnel Bonds, Series I DatedDecember ,. 1919 SiSt. 1949 FREE FROM PENNSYLVANIA STATE TAX ' AND ALL FEDERAL INCOME TAXES No Income Tax Ownership Certificate required in collection of coupons. Denominations, $1,000 FINANCIAL STATEMENTS Assessed Valuations $1,707.'855. 065.00 Gross Debts, Including This Issue 37,858,395.01 Less Sinking Fund 7,698,889.45 Net Debt , 30, 159,505.56 Population, Census of 1910 . . v.t 1,018,463 Percentage of Debts 2 Allegheny County has about one-seventh of the population and over one-fifth of the assessed valuations of the State of Pennsylvania. This offering is made subject to the approval of Messrs. Hawkins, Delafield and Longfellow, Attorneys, New York. Prices to yield about 4.25 Bond Department THE COLONIAL TRUST CO. PITTSBURGH, PA. We maintain a special department for the convenience of Liberty Bond customers Liberty Bonds Bought, Sold and Quoted Call, Phone or Write Liberty Bond Department West & Co. 1417 CHESTNUT STREET ., Members Bell, Sprue. 250 .alc fjgKK ". 3HW Wo Always lars on Hand a J.lst of Illfh Orada Bond Correspondents Invited rin Central Lt. & rowrr fls. Newark l'ass. Rwr. 6s, 1930 Auburn Gas S, 19S7 .... Pmnsxlranla Water f Towrr . 1M0 Duquesne Merit 6s, IPO , Bun Co. 9: 1020 HENRY D. BOENNINQ & Direct VrlTmta Telephone to 'w lo4l .. .... ..Li.. ... I. ..tclMO I Aiewucrs kuv. oiev jv-. Empire Caa ti Fuel Co. Coll. Tr. J l-rnnsjlvnnla Water i I'onrr to. " i, Indlansno 1i Traction t Tf'n,5I s. i Tern, l(aut. Indlanap. . Knst. Tr. M. Indole., CruwfordSTllU i. Ihimllle U Indianapolis. Mtrret uwy. vo. " i, I'enna. Coal 4- Coke Ce. Ser. A. J, E. Warne 4 Wabash Val. Tr. Co. '. dlsnd Valltr Kallroad Co, 1t J, nduskr fl.s i. y.tt. Co. ! "" ,''.'' il I'ortland Hwjr.. I.t. 1Jow,rr si. tV JWewark Passenirr n.allwar a'.fti Connwlltiit liny, A IJfhllnr Co.JlJJt M 8rracuse I.ltht 1 ronrr Cowpanj ,iW rhHadflphla Co. st i Co. iTJm Samuel K. Phillip v& a . 'ji. T 1 A r ne ts f til, " '' sflf?!ilJHBsL Ly v
Significant historical Pennsylvania newspapers