EVENING- PTJBLiO fiHDGBR-PHILADELPHIA', TOESIA fcEBKTJARY W 1020
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Get This
Free Book
At Once!
ilt tells the general
rules of trading, with
easy examples; deposit
requirements, commission
charges, how to give your
broker instruction by
wire, phone or mail; .how
to endorse a certificate, and
how to use collateral. Call,
phone or write at once for
No. T. U.-695.
JONES & BAKER
SECURITIES
Widcncr Bids., Philadelphia
tkenct Bell, Walnut 6065
Ktjstone, Race 2290
Direct Private Wires
Offices in 8 Principal Cities
NEW YORK BONDS (Continued)
U 8 Heal & Imp Ga 1009 .... OS
3000
2000
3000
30000
18000
75
IS
13
SB
16
U 3 Rubber Co Es
1000 .... ssft
0000 . 83
10000 .... K39
3000 . . S3?i
1000 . . . 83
1000 , . . 83f,
U 3 Itubber Co Iv
1000 . .10Hi
2000 ....1011;
U H Steel Co Gs
1000
0000
sooo
sooo,
sooo
5000
1000
1000
10000
3000
1000
1000
sooo
SO
OS
00
90
oe
05 "i
03 "i
06
90
00
00-H,
00 ',
90
1060 .... oeu
Vlr Car & Cliem 1st
SOOO ..,. B3'i
2000 .1 . B3U
Virginia Rallys Cs
4000 .... 83
Wabash U It Co 1st
3000 . 87 U
1000 .... 87
West Ucctrlo Co 5s
1000 . .. OS
3000 . . 03
West Maryland 4a
20000 .... 30
looo .... no
Westrn I'ao Itlt 1st
1000 . . 80
1000 80
West Shoro It It 4s
1000 70Vs
Wis Central Illy 4s
1000 . . . 07 ',4
3000 . . 08
Wilson Co cv
SOOO .... 9 Hi
1000 . . . 01
Wilson Co 1st
1000 . . 93Ta
1000 96
1U00 ., 95
1.13
p. 111.
iHt.lH)
1)0.50
no.io
in .no
lllah Low
Lib lloml I'.1--!... IHUIS HtUH)
Iib ISonil 1st" -Is.. fiO.no liO.i'O
Mb Itond 2d -N. . 00.1t! MMM)
Mb Itond 1st .lV.s 1)1.10 91.30
Mb Ilond 2d -H,h DO.SO U0.:W 00.00
Mb Komi '!il lliH !l"..1s III'-.O'J 1):!.18
Mb lloml lth 4',h 01.00 00.70 00.118
Vietur Note ".-'Ji DT.7H 07.t'.li 1)7.70
Victor Note lfJic 07.S0 07.70 07.S0
'stock salesman
WANTED
Hijb-grddo man 1uwb o '
i tlcntflc to handle a pruK)!.
li n ovwitd and operated by
T'liiladcIiriiU business men
Iioiiii uulure to the coin
1 ion stock nukes it itr met"
urditlo to lne6turn No oil,
raa "r milling speculation, but
1 cotmil lneslinetit In a Ujiit
ttnan well-established and
!nghl profitable manufactur
ing business.
W'ty seek only high-class man
iblo to furn'sli responsible
1 cfcrcncea Address
t. (iltS. 1 eifcrr OBlie
, LEHIGH NAVIGATION REPORT
I Net Income for the Year Equal to
9.8 Per Cent on the Stock
Vet mconii' of $".874,S Ms shown
io the nnmial report of thr Lehigh Navi
gation Co. for 1010. T' is us an In-rrrsf-o
of SlKt.71 ." over the preceding
M-ar iiml iii oquul to 0,8 per cent, on
the SL1.i7.".!l."0 capital stools, as uRaiust
0.0 per cent, in 1H1S; 11.7 per cent in
1017 on !j,JS,7."i!.7."it) outstanding stock
and 10. 0 per cent in 1010 on $2(1.587,
(50 stock lu 101!.
(iross earniiiRs vere $24,SSG,I)07.
against S25.lsS7.54ri in 1018. Operating
I ctpeii'-es were S17.S17.S07. After charg
ing off !02.".,000 for depreciation,
I S:j00.1)0(i for depletion and Sl."!),4fl
oilier reserves, there was left a net
tevenue of S5.2!)5,521 After allowing
' for general eponsei and fixed charge
the net income was us stated above.
New Orleans Cotton 'Change Closed
New Orleans. Feb. 17. The cotton
exchange remained closed toda. Mardi
(iras Da.
LIVE3TO0K QUOTATIONS
ChtnaitK. freb. . 17. "- HOGS Ilocelpts.
40,000 head. Hulk, tl414,03i top,. USi
heavy, t13.83t4.25i tnnilum, 114W14 RO!
Ilshtr 14.4014.8n: lUlit Hunts. J14.'JH
14.(10! heavy packing bowk, smooth. 1180
13 30: packlnir Bona, rough. lll'.BOOJ3i piss,
$13.30 W14. 80.
CATTMS Iteeolpts, 14,000 head. Firm.
'Beer steers, medium and heavy, cholco and
J rime, !147AV1U.83! medium and good,
11 3014,7i lommon. to.23011.001 HkM,
(food and choice, llu.tiOvltl: common and
medium, l8 73Wl2.r.Ui butcher cattle, heif
ers, l8.4oell: cows, III 40011.731 cannors
and cutters. 3tPfl.40i veal calves. 113,73
17,23: feeder steers, $7.30!111.30; (.tucker
steers 7510.iJ3
HllEUr JtecelptB. 10.000 head. Steady.
Lambs. I18WU1. S3, culls and common. 114,00
17.73! ewes, medium, (food and choice, 111
81 12 73; culls and common, IliW 10,50,
rittshitrcii, r iw 17. noas ne
celnts, 4300 hcAd. Lower lleaMes. I14.D0
Utl.73; heavy jerkeri and HeIU yorkern.
M ssom-so: Ib. linoto.no.
SHU1S1' AND tVMHS Jtccelpts, 800 head.
Stead. Top sheep, 113: top lambs, lli.
CALVES Ilecclpts, 100 hd Weadi".
Top $21
liist IlurTiilo. N. V., l"cb 17. CATTLU
llccclpts, 1U0O head Steady to Btrontr.
(tthes. receipts. 1UO0 hend 30c lower; 10
23.30.
IOUS Itecelpts, 0000 head; 80s to "3c,
lower ltea.v, $1B.50SJlff, mixed, $10 238'
10 40, sorkcrs. 110 30. few. $10.75: light
orl.er9 and pUb, $10.40(10.30, roughs. 113
13 30. stacs, $0010.50,
S1IHEP ANK LAMHS ncrelpts. . 8000
head. Lamb. $1. loner; others BOc lower.
Lamb?. $14Lv22; ycnrllnBd. tl210.50,
wctherr. tin.oOiDlO, ewes. $0(914.30; mixed
sheep. 14.30IS13.
i;aat st, IxhiU. 111., reb 17 HOGS Ite
celpts. 13.300 head Lance Hulk 114.23
rail 00. luaw I3 iJtlll 25, medium,
14 J3f14 73: llBht, $14.300113 light llBhts,
$14.50iP15 hea packlnir sow, amoolh,
I2 2"(12 50, p.cklnir sows rough. $UT3
W12 25 Digs, ?1215
CATTI.n tteeelDts. 50on ht.ul Pleads
riccf hterrs, medium and heaj cholco and
prime. $14010; medium und kooI $1H'
1173, cimraon .'ufflo.?.", light pood and
cholco $12 2M?10, common und medium
Ss,ro?12, bulctur cattlo hilters. $7 23(11'
1150. cow? $7.23fl'lo 50, ciinncrs and cut
tTR. $5f?i7. eal calves, light and handv
weight tl2(rl8 feeder stt-ers $s 5UW12.
slocker stctrs 5710.50
Kansas fit). Pet). 17, 7IOQS -Itecelpts,
111 000 head Lon-er. I;ulk. $13 40614.
htntles. S13.358tl3 80: mediums. $13 SOU
135, lights $1" I0ii4.:i3: packing sows.
$tJ5()t:i pigs, $11014 no
CATTLE rtCCClutS. 000(( henrt Ste.irtv
It. a-v beef steers, choice and nrlme. $14 25'
'nit; .. medium nnn rrnrtn sit' "
common S'
1 r.0 5 14 ,",, lommon and medium $8
II ..o, Dutiiier chuic. ntirers. SilillT.i
conn. $0 'ins 11 J5 canners und culterH
$3 25 Si II 00, eal cahes $13015 50, fieiler
steers. $s30iB13, stocker steers. $0 asm
1(1 23
SHEUP RccelMs 11,000 head blrong
Limbs. $17 2520. culla and common, $12 25
5117 searllng wethers, $15.50($18, ewes
10 50(fi 13 23. culls and common $3 25(!x
10 23, brecillnp: twes, $8(114; feeder lambs,
.tt4i'i ,,ii
SELLING MOVEMENT '
FORCES CORN LOWER
Economic Situation Discourages
Bolief in Matorial Risq From
Present Lovels
onAiN cni.T wDATiinn toiiuca'st
Chicago, Feb. 17. Illinois Unsettled
tonight; Wednesday ircnorally fair and coif.
Missouri, South Dakota. Nebraska, Kan
sas Montana and Wyoming fair tonight
and Wednesday, colder. Wisconsin and
Minnesota Unsettled tonlcht and Wednes
day, Iowa Mostly cloudy and coldor to
nlRht: Wednesday partly cloudy. North
Dakota Partly cloudy tonight and Wed
nesday, Chicago, Tcb. 17. Sentiment In corn
underwent a change over night, on the
result of assertions by the Institute
of American Meat Packers that the ex
port buslnc.s of the meat packers had
Urtiially come to nn end, because of
the unfaorablc foreign exchange sit
uation and losses in hogs. Under sell
ing by commission houses and pit trad
ers the market weakened.
Disappointing receipts and firmness
in the cash article, however, caused
bulls to furnish support at times.
The billing power could not be called
good, inasmuch ns the recent upturn of
some ten cents n bu&liel discounted bull
ish conditions. The economic situation
in general discouraged belief in any
material rise from the present price
level.
It seemed as though farmers wcic
forwarding only grain of questionable
keeping qualities.
Oats worked lower, in sjmpathy with
corn. Longs took profits nud borne bear
pressure developed. Buying on dips
was good by bulls, who were inclined
to reinstate lines, No fresh export
business came to light.
Offerings from the country were
small
medium and cood. $12.2tf&14 :;,. ji S ln SKu M """"" T..I
J'ir,iiii12.23. light, good and choice urn ' oVn fflh I rt TivfJ-
J ?". , nmmrtr, ,. ,,llm u Upcn Illgn LOW CIOSQ ClORO
Mas . . 1.31U 1.35 1,335, 1.33 tl.4SH
Jul 1.21U 1.82U 1.30( 1.30S 1 12
Oats
May .. 81'4 R2S 0 81 2
Jul .. 734 744 73U 73'i 71'i
Pork
May.... 35 00 35.30 35.00 S5.70 35 8J
Jul) 35.30 35T20 33.20 30.O0
Lard
Mm . 21.40 21.00 01.30 21.32 21.85
JuK 22 10 J2.10 21.77 21.80 22.32
Itlb?
Mi ..18 SO 18 80 18 30 lB.fi2 1S.07
Juh 10.12 10.12 10.00 111.02 MS. 10
I!ld t Asked
Calumet and Arizona Dividend
Chleaso. l'eb. 17. The directors of
the Tallinn t and Ari.nna Mining Co.
h:ic dedaied a qnaiterly dividend of ,1
y share, pa.iablc March 22 to stock of
tecord March 5. Three mouths ago 50
rents, six months ago $1, and nine
mouths, ago 50 cents were paid,
MORN FOLLOWS
LOSSES ON CURB
Industrial and Petroleum Issues
ShowMarkod Recessions
in Early Trade
WIDE RANGE IN ASPHALT
New York, Feb. J7. The curb mar
ket was influenced to some extent by
the weakness on the stock exchange
during the morning, and oomc of tbc
industrial issues and petroleum shares
showed material losses in the early
trading. Later, however, the situation
showed pron6unccd improvement and
upturns were in order. .
The widest range was iu General
Asphalt, which, after selling down to
70-j, rallied to "Si. Simms Petroleum
was offered by bear traders down to .'13,
hut after midday moved up to 35,
White Oil was heavily traded in, jield
ing from 50 to 20, nud then rallied
to above 30. Texas Co. sold at 45 to dl).
Aetna Explosives was strong, with
suIcm at 77i to S. Goldwyn Pictures
dropped from 20 to 21. Indian Packing
was also heavy, falllug from 13 J. to
12nl, North American Paper "was
strong, with sales nt 5 to CJs.
Submarine Uoat dropped from 13'. to
12:)i, and then moved tip to 137t.
American Marconi sold at 5 and -1.
General Motors was traded in at 21 to
' IMIUbTKIAI.8
Acme Coal
Aetna Uxploshes ...
American Candy
Amer Marconi . , . , , .
(icnerat Motors . . .
Uralc Ola
Goldwn Plot ..
Indian Packlnir
Locomobile
rorlh Amor Paper
Perfection Tire
Republic Tire nub
.Submarine lioat
U i Steam
United Retail Candy...,
United Front feharine. .
Unllcd I'lct Prod
lllch Low
24'
20
13W
53
b;
4"!
3'i
IS?,
3
14
Lat
IN
New York Metal Market
New ork, Vcli 17. Copper Spot nnd
rehruaiy. offered, 18s, c: March.ofTered.lR'iic.
April, ofTered 10c Market quiet, Leud
Spot, rchruiry and March. H ttPr Market
quiet Spelter. Kast Ht. Loult fepot Peb-ru-r
and March. 8 G7'a 8.82'i c. Market
quk I
iNii:riTENT on.s
:: : 1
risv.Nrm
MCAK. lOCM'OItT .1 ONTUtIO
POM I U t OYII'ANY
ntfundlns Mnrli"iicc Mnkln: rund Gold
IIomiU 1)110 1938
Tlio Ucjuitablo Trust Conipd'. of Na
Tork, as lruiteo under Niagara Lockpot
. Ontario Povv. - Company r,o-t?nse dated
'January 31. 1018 herebj .nvltes offers o
bo Slnklnir I"und fo- t.ie ale of boirs
Issued under ald mortKaKe. to ebauat ha
mm of One Hundred and T-eiA Thousai '
Three Hundred Dollars ($112 . tool
tiralcd ofTcri nlll oe opened at tho oRlce
it th undersluned No 37 Wall Street New
Torls clt. al t el.e o-i ork loon on reb
ruarj 20 1U20. and "hould bo Indorsed
"Orfers fo- the Sale ot Kond to the Nlasra
J ockport . Ontario Power Company falnktns
Turn i "
The rtsrbt 's rocred to -jject an and
all offera
THE nQUITAKLK TP.LST COMPANY
Or NEW TOP.K. Truitee
Uy I VMAN rtHOADUS Vice President
Dated New Tork. N. T , Febrjary 13. 1920
MIXJ.llM (IMAIf i SONS "slUP A.NU
l.noim: iiuii.m.Nu koipam
liiMn riind Nuliit
I'lurhi. Tru-t Crnipun. form(?r r s
Hdellt InMJrunic '.ret i id Hafn Upo,t
('ompunv . Tncueo ui 3er MoitjCrtSO if lie
TVlin.im irjhm f. so is sh'n and Uhs.t
Bulldlni; Compiio. d iti-d Mnis-h ' 1s"9
invites terdirs oi proposals for bond Isjued
under Mild itiortcaffi to b-j j.ur'-endered fo
redeniptlon proposals to be open's! and
awards inadu on Mnrih nd. 100. at U '
Vloeit M
FinBMTY TRt hT COMPANY. Tru?tee
3L'3 3S1 Ch"nut St . Philadelphia. Pa
Wm P Gest. President.
Teb-uary 5. 1130.
Ann nal Meeting
p3?j orricn ir
pun Mir.Lrm ir.tsT coviimnv
v e Ai ru ' U .i' oi l. e torkhold
eij. -f ,,n "u ipm 'J IVbru.irj li'
1a"1 frll," - f, i 'U - it eh'ttcd to
iser -r ti' ei ,j'n t" ,s :
Jftlu o- Jin Thomas drflt1
TVil i n W 1 r.. rr Adolph G lirnensurl
KdHirt T -viol ibj. Ldwa'd P.oberts
lexl I P. i r dvird 11, k-.ht-'"
VT v M.erbu ncnjamln Hush
Samuel M rtdf.a i sj tnur 11 Lcj
J i-'rinklln .fcT'dden J ' I!'ivll Ciuinil s
Ilenrv G Urcnto
l a mc i Ins of the beard of dlrroto-s
held on th" liith ln-t., the follo.vtns ofilctra
wrcrr- elected vlr :
JtKNRV t. JIHL'.Cir.i; Pr. -idrnt
PRANK Sf IIARUT. Vice P.-sldenl
T i;llwooo FKAMK. lce Presldint
I KVRV I. McCI.OY. seerctar'
IOHV C VALLACK. Treasurer
NKLSON IJKSVnV Trust Officsr
viomas n PitoHi:p n. i:t nrncer
II RRT hTBWAr.T A3Ht Renl HiUOffisSr
, (1IMS Htt.-.rIi': .t T-uit Officer
VIS l'T r: llirn.V As' S.crela-
A RTMHVn IIIH' P s,l I aurci
,OHv n T.V.'N-nvi) .l lo Pres
ir'.MlY I M LOT
Moore tr
v nr.ri .i I .b-uar 1 . 19-jii
IS?"
tiii: nl,m. mi;i:iin(. nr inn
mo. 1 lioiders of Hie I liltid nremen's
?nsrranee ' s 1 tl be h'd n tl .Id div
Kf Mardi 19'JO. at VI o'lloik iiuoii. at Ihe
nfr - of tit? niiiiwni s. i. , or :d nnd i
W at . I'h adeiohht ,i- the purpose j
of it li, j prei'u' at lie prciditil and
i.r. -,, llu''lm!l, lo 'h.iilcr at linj
up i - n ir i nJ kOil r ami lor tin
ran a ' , i t, -1 n u ' r hu u e ,s a iu
rr ' - i . i "' tin in "tluK.
'I L i ll.s h. L t.n- .
i u i HI I--'"
Jj-- 1111. A.NMAI. ULt.llM, ill' lilt,
- , i I ulvlui-i o 111. .lllfiitomi Kuillii;
Mill. I I ',-. IJ al II..' gin .i i lie tu u
pjn Nn. J..3 riu.tl Ui ilrtlii,- PMlade olila
un lue-dJj. I rliru.irj 1".. ItliO. al 1131
a fur tlu ! cii'ii o ll'i ulreotors tu ,
-,( ajrl i the i culm; jtar and sutr. ,
siller business as may b- laid btfore them
3 RUSSELL ItUnDBRS, '
Secretarr.
I-3J TIIL NUA1. MUWIMi IP THh I
vsf kii i d'i re of Mq Vtittnilualrr
CeniAlerv Ciilninii) v 111 bo It Ed at the
i:n fs ,f ' i inn mi at u i uiiietei
Bariuutli la oi Wednesday I ebnury IS,
ID-'", at : I'. M.
There wl.l If iin r.e.tbn r,, l.t,a-d o
t3lit:i.lu a u tn fu- lb folluwlnff ea- .
L :ORGU M I' MS I ..r,
Jie, rt, -
site, lil Niitires
IIITIre or
ijiSiKXM i. in- Miitm .mi:i:k
3d imd Mlllfiilt sts,
I'lilladeli.lilu
lebruaft 10 lO'jri
a n ciina of th ttui ..holders held
I'dtla. rrbruari d 19V0 a resolution vas
ndopied in reading the capital . tradt of tluu
.onipa from $1 OHO flOO to $3,00(1.00(1
t i mtttlnff ul the Hoard of Dire, tura
lirrn inn lla tht following ro i lu Ion waj
udnpl d
ni.wini n i s -nc'.huiii r of - tcr.i
n vi. , r luni reurua 11 ilr.ii i,.,!i
br i) itlid in aiib-i rI,i' fo on (li vjiar, itt
., in t t. li i' on i u" iverv four (i
-,lar,H he tl Tit' imili'il li be Slid Tu
i.ai ti fcha ' aliall bi w i it iliiltifb (J-.-oi i, n
duliara l$IO) nf ihltli iball W nlured to
tfcPlul ' '' t'li iliillals '5IOI lidded lo tlm
ijU'iilus of tho i (,nipan.
AVurranm will bu nulled I'cbruary '.'I
IIR'I'
JOHN KRCMUIl.
Bucretary
I'ruiioiials
orncF: or ir. roMinsv-ioM ils m-1
rIIIMOI NT I'Mtlt
C7 111) Hull
Phl'aili Iphla Sib uili 17 IT.II
ced iiroiKiiuili will In ihhhhi at Hn '
iHie uitt' ' u'tlocl. 11, 1 11 Irliliij, b.
iri'iir) 37, IWliI, 'or furnnh.fi.- I11.11L'
Pi-upiii-t -nil' ,ll't li iiblain.iJ t Ph
cdl 9
I uisl of lummi- loners of Pmr
utnual Park
Chief Unsinccr
Our Hat is off to M r. Hoover
who has made it possible for Americans to deliver
food at reasonable prices to relatives in Europe.
American Food Warehouses have been located
in Hamburg, Warsaw, Vienna, Prague and Budapest.
Do not send money to Europe for purchase "of
foods send Food Drafts.
A Food Draft is an order on one of these ware
houses to deliver certain articles of food which can be
secured in any of the cities named, or shipped to
other points through local agencies.
1
Outside of the rationing system a single ham
costs as high as $150.00, but a Food Draft purchases
any of the following staple food combinations:
A $10 Draft will buy
24 'a lbs. Flour
10 lbs. Beans
S lbs. Bacon
8 cans Milk
or
24 Vz lbs. Flour
10 lbs. Beans
74 lbs. Cotton Seed Oil
12 cans Milk
A $50.00 Draft will buy
140 lbs. Flour --
50 lbs. Beann
16 lbs. Bacon
15 lbs. Lard
12 lbs. Corn Beef
48 cans Milk
or
140 lbs. Flour
50 lbs. Beans
45 lbs. Cotton Seed Oil
48 cans Milk
Four million American families have relatives and
friends in the stricken countries. Send them Food
Drafts, or if you have no one there and want to con
tribute to the general relief, send a Food Draft to
Relief Administration Headquarters in New York
and the food will be distributed under its supervision.
Food Drafts sold here; no profit to the
CORN EXCHANGE NATIONAL BANK
Philadelphia Chestnut at Second
is
Allied Oil . .
Alnal Koialtv
Arkansas Nat Gas 20
Hell Pet 1
Huriinctt Van Cleae iu
C'ltit.3 Serv '" ctfa.... SOL.
Ccsdi'n & Co 8l
Dominion , , U'j
Duquesnc 0
Lilt jnsm i'ei 8H
Lncineers i-eiroi .
Uriel Oil
Ked-ral Oil
llllllland
(ilenroik Oil ....
(.uftes GlUcsnlo ..
I Homo Oil
i luler Peirol
bland Oil
LHIngMun
lain" Star Gas .
Metropolitan Pet .
North Amer Oil
Dinar Oil
Poiinok Oil
Phllllt-s l'ct
Prod & Itelinors .
lan Oil
SkelH Oil ..
hlmnis Pet . . .
Superior . .
Texas Hancer . .
Tt as Co v 1
Irtorla Oil new 1
White Oil 311'a
I Way O & O Hi
Y cstcrn Slates 'a
1 .MINING
Alas-Br Col 7
tlant.i . "
Huldier Dllldo Ut .
' Hie Lidjo
Hooth
Hcton A. Mont...
( iikit Mill
Culumet & Jerome .
Canada Cop . .
1 t'audelarla M
Cons Virginia ....
' Cressoll Gold
i Crescent McNamara
I Lureka Croesus , .
Golden Gato Uxp . -,
Hold Cons
1 Gold Denl
! Gold Mereer
I Gold Hllier rick . .,
toiulslana Co
, MiNamara
I Marsh Mln
Motherlode .
Nn Ophlr hllvcr .
1 Mpl-lmr . i .
lle Cons
Uoth ster Mines
Hnpo Group ....
silver KhM of AH.,
So Ami P & G ...
.s Mher I.ead . .
success Mln ... .
Tonopah Cash Boy
lono Divide
Tonopah U ,
TonODah Mln
Tonopah Mlzpah
Tonopah Rescue Eula . . ,
P S Cont
United eastern
PUh rtev
West Und C . .
Uliite Caps . . .
White Cans Ext
tl llb-rt
rrlneton
IIONDS
lied Paclfi Cs
att Cs. io::
i u Electric 03
K. nnttolt Copper 7
Iss Govt i'i H .
t-
37
27 U
o"
3d
3
I
fl's
7
33
81a
4
DU
33
14
I'.
4(1
lb
I.
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30 3ll
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-I. 27',
London stock market
Prices Irregular and Trade Quiet
Industrials Brisk Oils Improved
Lontl5n, Feb. 17. Prices for securi
ties moved Irregularly on tt?Q stock ex
change today and trailing was quiet,
but generally the undertone of the mar
ket was steady. i
Oils improved. Shell U.'rnnsp6rt vns
12 and Mexican eagles 11VI. Deal
ings In the Industrials were brisk, vvlth
sentiment cheerful.
There vxas Investment buying of homo
rails, following ditldentl distributions,
but light jirollt-tnklng occurred in tho
shares of Argentine roads
The giltedged section was quiet.
THE BALDWIN
Locomotive Works
PHILADELPHIA
Steam, Electric and
Internal Combustion
LOCOMOTIVES
Charles VJ. Webb & Co.
Wool
and Cotton Yarns
HG Chestnut St., Philadelphia. Pa.
NAGLE
STEEL COMPANY
STEEL PLATES AND -HEETS
Pottstown, Pa.
Phila. Ollice, 1411 Morris Building
Him.iMWviiwmmiiHmfi
YOU KNOW WHEN
YOU GET YOUR MONEY
WHETHER WE COLLECT
YOUR BAD DEBTS OR NOT.
THAT'S what a Credit Insurance
, , Policy in the "London" means if you
comply with the terms of your policy.
It Is not a "hope" or a "promise" that ome day
you may get your money from the debtor. It
Is a "guarantee," and you do not have to wait.
When one of your covered accounts is not paid
at maturity, it is construed to mean a "lost"
under the policy. Any excess of your normal
loss the "London" pays within thirty days, and
each succeeding Covered loss within thirty day
after it occurs.
Why wait for more bad debts ? Asking us for
particulars does not obligate you.
cnm. SUPER-SETCVlCt
ATYOUn
5EHVIC6
Established 3EFmgKT3R Ei(!h1cmsixty.nme
LONDON GUARANTEE AND
ACCIDENT COMPANY LTD.
R. A. IRVING, General Agent
Fhone Lombard WIS
H4MMtll""1UIM'il'llll'lltt
PHILADELPHIA, PA.
810 UFtjetteWJj,
There arc openings in
nearly all branches for
skilled mechanics. Steady
work: good wages; excel
lent working conditions. A
large number of the ways
arc covered.
NEW YORK
SHIPBUILDING
CORPORATION
CAMDEN, N. J.
Apply at Employment Department
nt the Yard
'JllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllliiiiiiiiHiinnc
Foreign Bonds
A comparison between the cost of Internal Bonds, of
certain countries bought at par prior to the War with
the cost now, due to the extreme low prices for Foreign
Exchange, snows:
31
i',
31
34
POWER D
pirnr K
EmiRS
Valve scats planed in position
and new valves furnished. All
kinds of engine repairs.
IMiono 11 ul. 181 1 irill Jlnlii :!lll
Great Drltain 5 Bonds
French 5'u Bonds
Belgium 5 Bonds
Italy 2Vc (Jonas.
Pre-War Approximate
Cost at Par Cost Now'
, $486 per 100 J355
. $103 per 1000 Fr. S6.r
. 1P3 per 1000 Kr. SB0
iuj per loou Lire $60
H
nt- V7 . . i
''" 1 H
1'i l'i I '0 CHESTNUT STRICT 1 1
," ,;-' ! NEW ISSUE
,'j 'i I
(17 fill
J.-. 35
i' r
r," ,;- ,
1'J -. ' I
TU I
' German Municipal 4 Bonds.. $238 per 1000 Marks fl5
We are prepared to execute orders in bonds of the
above nations and have prepared a special letter giving
facts and figures about them for the guidance of thoae
who may be interested.
Copies mailed upon request.
"Prices quoted are subject to change.
West & PA
1417 CHESTNUT STREET
Moinber
I'lillndelplilu Mori. Exchange
Sew York Stock 12xchaiigo
We Alnajn lime on Ilund h 1,1 nt (if IIIbU Grade Jlonds
Correspondence Invited
, , iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiii;
t!4
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67
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111
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3T4
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i7
FIRMNESS IN STOCKS
HELPS STEADY COHON
Reported Settlement of New Or
leans Dock Strike Proves Mar
ket Factor Business Small
' OTTOX-ni;LT WCATHUIt CONDITIONS
Nm YorU, Tcb. 17 The follow Inn tem
PTaturea were recorded In the rotlon belt
'Mb niorninff' Knoxvllle L'O Macon, i:,
us:ust.i Hlid .Mlanta -JI Wilmington, 2H
Mnntsomer, ".islillle Tlinmaalllo and
Charleston. 28 Meridian and Savannali,
In Tort hmllh 3L' Jnclt!,nnllle. Atemplila
ml OKlalioma Tin :il I.litlc ItocL nnd
irkf huru SC Tanina 32, 1'ensarola ,ind
ilireieport 40. Nn, Orleans 12 Kan
Nntonla. IS Corpus, fhrlstl and OaHeis
tmi .iS There wan 0) Inch of rreelplta
1 "i it han Antonln nnd t'orpui Chrlitl
New Yoilt, Feb. 17. Tlic finncr touo
ot htoi'kb und ifpoit-i that tin- Now
Orleans htriltc of (look workers Iiail been
settled, which MiRset-ted inereased ex
port, as much ot the cotton in Now
Orlcaua warehouses is held for shipment,
led to a steadier cotton market today.
ISusincss, howecr, continued binnll
with much of it of local origin. The
exports were -1S03 bales, all to the con-
I uncut.
. Clearances for the season to date were
I 1.1 lit, IM) bale-., compared with -,',01,-j
ti."!l lialcn for the I'lirrcspuinliui; iferiod
I liixt season.
lest. Tod5 a 11 on 1 ;r
1 rinse
March
.May
.luly .
Oct.
1 'In
close open u n, . p. in n"i,i
in.4t .it, in no 70 311 11.. J07.;
31.11 31 L'I) 3140 31 2!i 31. SO
31.02 31 III) 32 20 S2 10 JJ 31
. . . 20.75 20 81 20 SJ 20 80
Reserve Banks' Discount Rates
The first column sites rates for all
periods up to und including u tiftctu'
day maturitj, tbc second for a period
of nixtecn to ninety da-. The third
aud fourth columns give the rates for
discounts for lollatcuil loans secured
b government bonds or notes.
Com 1 paper Ciuw pjpir
1(1 to fin 11. i nn
Ijdaja davs 15 'lass ilasa
lostoii . . , II il
New York fi 11
rhiladelphla .... (I 11
Itlchmond II 6
dm eland 0 h ,
Atlanta 6 11
I'hlCUKO II (I
St Loull (1 H
tlnneapolls .,.,!, n
Kuneas city G r,
Uallaa n n
Man rr.mclsco fi 11
ItateH on ntitHl.inilin? r.,pilHpni.,. r i..
'ielilterlnfad lOntlnui unehanserl ill IK.. ,,,,.
(tnt -"
CHICAGO BUTTER AND EGGS
I h learn. 1 'ib 17 IJfTTt.lt llrm. t rwim
r r.nu li.lii
I KOOS llrm Ilcccluta. 031 cases, l'lrsts.
(ilr, ordinary flreis HOIOc, al mark caeei
'in(,ludil 10001
:ri
3'J
314
5Jr
flt-J
31?
5V4
. "5(li
ilas
,'i'4
5V4
an
$600,000
Gramm-Bernstein Motor Truck Company
Makers of tlic First U. S. Liberty Truck
LIMA, OHIO
7 Serial Gold Notes
FIRST TRUST & SAVINGS BANK, CHICAGO, TRUSTEE
$50,000 January 1, 1921
50,000 July 1, 1921
50,000 January 1, 1922
50,000 July 1, 1922
MATURITIES
$50,000 January 1, 1923
50,000 July 1, 1923
50,000 January 1, 1924
50,000 July 1, 1924
$50,000 January 1, 1925
50,000 July 1, 1925
50,000 January 1, 1926
50,000 July 1, 1926
Price, par and interest, yielding 7
The Gramm-Bern&tein Motor Truck Company, established in 1912, is the outgrowth of the busi
ncss founded by B. A. Gramm, the pioneer motor truck manufacturer of the United Stales
Mr. Gramm built and successfully demonstrated the first commercial motor vehicle in 1901 and
has been a leading figure in the growth of the motor truck industry over a period of nearly twenty
years. The Gramin-Bernstein Motor Truck Company built for the United States Government the
First Standardized Liberty Truck used in its military operations, and the first convoy of thirty
trucks which went overseas was built at the Gramm-Bernstein plant. Th,e Company's plant is
equipped to manufacture 4,000 high-grade motor trucks per annum nnd the distribution of its
product covers practically every state in tho Umon. An extensive export business has also been
developed in sixteen foreign countries. The Company is given the maximum credit rating by
R. G. Dun & Company, and is a close corporation, two stockholders constituting the ownership
of an outstanding capitalization of $1,500,000.
SECURITY
These notes are the direct and only funded obligation of the company and
are, secured by a Trust Agreement which requires that the company must
maintain net current assets equal to 175, and net tangible assets equal to
325 of the par value of the outstanding notes of this issue.
ASSETS
The Company's balance sheet, after giving effect to this financing, shows net
tangible assets, available for the payment of these notes, of $2,022,520.36,
or more than 337 of the entire note issue. Net current assets aggregate
$1,076,403.90, or approximately 180 of the total issue.
EARNINGS
Net earnings during the five-year period from 1915 to 1919, inclusive,
averaged approximately $162,000 per annum, or nearly four times the
maximum annual interest requirements of this note issue. Orders have
been booked for the Company's entire 1920 output, and net earnings for the
next twelve months period are officially estimated at $400,000, or over
nine and one-half ' times the largest annual interest requirement on these
notes.
All lepal details in connection with the issuance of thobo r.ctej .Save been passed upon and approed by
our attorneys, Meters Chapman, Cutler i. Parker, Chicago. The hoc4:B and accounts of the company haJ
been aud tod bv Messra. Irlce. AS aterhnnm rntnmnu r-,m.i ,..t.i! .-.'. .i n,. mmnaWl
properties luio been appralbed by tho Coats . Burcli.tnl Company, Public Appraisers nnd Engineers
S
Subscriptions Having Been Received for Over One-Half of This Issue, We Offer the Remaining
Unsold Maturities Strictly Subject to Prior Sale.
i '
Detailed circular on request,
Hyney, Emerson & Co.
Municipal & Corporation Bonds
39 South La Salic Street ' Chicago
Telephone Randolph 2521
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