ifp i"V; ;
in-v-.
iy '
Jir .
W-ffj K
wf'; -, ,
!.VJfe..' '.
Jf '
I- ;j
"
EVENING, PUBLIC , LEDGEKr-HILADELPHlil, MONDAY, MAftCH 1, 192.0
19
"Zi-i t
rpTnTiiiiiiiiiiiiiiii'iiii'ii'iiiiiiiiiiiiiiii'iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimr
NEW YORK BOND TRANSACTION
if'
i
i.
I
V
4 mm
Pennsylvania Railroad's
attitude toward the
Port of Philadelphia
A letter on this subject has been
written for the Corn Exchange by
Samuel Rea, Esq., president of the
railroad.
The statement was too long for the
regular issue of our paper, the Corn
Exchange, so it has been issued as a
supplement, and it will be mailed
with the Corn Exchange, out today.
If you are not on the mailing list
advise us and a copy will be sent you.
Everyone interested in the City and.
Port of Philadelphia should study
Mr. Rea's statement.
Am Smelt & Ilef Ss
1000 .... 83
AmTcl & Tel Co clt
3000 . .. i 11"A
Am Tel & Tel Co 6s
3000 10
2000 .... 80 i
2000 .... 80U
noon .... 80vi
Am Tel & Tel Co 6s
1000
1000
1000
2000
1000
Atch T
6000
10000
2000
ISOOO
1000
2000
A T &
2000
oo)4
oatt
.... OOlfe
.... uoy,
& 8 To 48
..... 18V.
'.... 1016
.... 10
.... 10
.... ioy
.... ia
S Fo 4b 60
83V
Anglo-French D Bs
corn Exchange National bank
Philadelphia :
x Chestnut at Second I
I , 1 1 M 1 1 1 1 1 1 1 M 1 1 1 1 1 1 1 1 ri M 1 1 1 1 H 1 1 1 1 1 II 1 1 1 H 1 1 1 Ml 1 1 1 1 II Ml 1 1 H 1 1 1 1 1 1 1 1 Ml 1 1 1 1 1 1 1 IH 1 1 II 1 1 1 f 1 1 n i r
HlTT, FARWELL & PARK
37 LIBERTY STREET, NEW YORK
The undersigned have formed a co-partnership
under the firm name of Hill, Farwcll & Park
to transact a. general investment business.
Rodney Hi it
Grosvenor Farwell
Charles F. Park. Jr.
C. Arthur Ambrose
William B. Scarborough
itELEHHONE
JOHN 13S
Robert C Hill. SixcM
1000
3000
2000
40000
2000
0000
2000
SOOO
130000
100000
SOOO
0000
1000
13000
1000
11000
110000
11000
tooo
120000
SOOO
10000
1000
2000
23000
ioooo
1000
10000
31000
M'A
00ft.
new
00Mi
oo u
oom.
DOW,
00!,
004
D0,,
now
00 0
00V.
00 &
no1, 4
o
noV4
001
. 00
, 00 V4
vo
, oo 'A
DAWi
, oo Vi
, 00 Vi
. 06
. 00
00
1000 ,,,, gDVi
14000 .... 80
2000 .... 80V
City of Lyons n 6s
21000 ,,.. 80
SOOO .... 00V4
12000 .... 80
0000 .... 80
10000 . ... 8094
City of MaroolU'fi 6s
. 80
. 80
. 80
. 804
414(1 of
05
Armour & Co 41a
1000 83
.Ulantta C Line 4s
nnn . 131
Baltimore & Ohio cv
1000
1000
2000
2000
1000
3000
oiVt,
04
04
04j
01
01
Baltimore & O 3 ',4 a
1000 .... 82 W
2000 .... 82
1000 82
1000 .... 82
Baltimore & Ohio 4a
2000 .... 03 14
3000 .... C3'i
Baltimore & Ohio Cs
1000
3000
2000
1000
1000
2000
1000
1000
03
63
03
03
03
A3
65
05
Baltimore & Ohio 6s
4000 .... St
23000 .... 84
1000 .... 84
1000 .... 84
1000 .... 8Vi
1000 .... Ht
2000 .... 84
Bait & Ohio To! 4o
1000 .... 30
3000 .... 40
B & O S Wcst'll 3 14
SOOO .... .1
3000 .... 11
Cont of GoorRla 6a
3000 .... 01
Ches &. Ohio n 4 lis
0000
8000 ..
12000 ..
1000 ..
CofNl
Nov 'G7
soon . .
C of N Y 4b of '69
1000- .... SO
City of Paris B 6s
1000 .... 00
0000 .... 00
3000 .... 00
6000 .... 00
1000 .... 90 ii
C C C St L trrn 4s
1000 .... 08
8000 .... 08
Col O & JJ 1st Bta
1000 .... 82
Colo ImluM Co 5a
1000 .... 12)4
1000 .... 12
Colo & Southern 4
1000 .... 10
Comp T & R Co 6b
tOOO .... 81
1000 .... 82
Consol'd Gas Co 7b
1000 ....100
10000 ....100
3000 ....100
Copcnhugcif C'.iu
Tooo .... 70
Don & Ulo Grand fd
0000 .... 41
10000 .... 41
1000 .... 11
4000 .... 42
20000 .... 41
Den & Ulo Grand 4b
2000 .... 03
3000 .... 63
1000 .... 03
Dom of Canada '29
1000 .... 03
2000 .... 03
1000 .... 03
3000 .... 03
Dom of Canada '31
looo .... 01
3U00 .... 01
Eric n n Gen'l Lien
looo .... 44
2000 .... 44
1000 .... 45
Erie II n cv A
SOOO .... 3D
1000 . . 30
1000 .... 30
SOOO . . 30
SOOO ... 30
Erlo H U cv B
2000 . . 30
Erlo ERcvD
1000 . . 12
2000 .. . t2
Erlo II n Co Pa 5u
2000 . . . 10
GcoreU Car & N 43
10000 80
Hudson & Man fd
10000
1000
1000
2000
toon
15
13
13
7514
15
000
3000
6000
2000
1000
1000
1000
3000
1000
10000
Chcs & Ohio
Cites & Ohio cv 414,8
15
14
11
14
15
11
14
14
14
14
So
1000 .... 00
Ches & Ohio ov Gs
15000 .... 10
S00O .... 10
sono .... 10
10000 .... 19
2000 ....
1000 . . . "
2000 ... T"j
Chi & Alton 3M:a
2000 33
Chi B & Qulm y neb
2000 ',
Chi B & Qulnry 4 s
European Internal Loans .
French Government 4s of 1917
Par value, exchange at normal, per Fr. 1000 ?
Market value Feb. -28 $53
Income rate at normal excltange, based on present cost Wi
Belgian Government Restoration 5s
Par value, exchange at normal, per Fr. 1000 $!9i
Market value Feb. 28 ?7
Income rale at normal exchange, based on present cost Uc
Italian Government Sixth Loan 5
Par value, exchange at normal, per 1000 Lire $193
Market value Feb. 28 $I'J
Income rate at normal exchange, based on present cost 10co
In calculating above Income returns no credit haB been taken for tho
advantage that will accrue to tho purchaser of bonds at disccunt prlcoa,
when the bonds aro redeemed at par at maturity.
Biddle & Henry
1 04 South Fifth Street
K
Sugar Syndicate Now Being Formed
A syndicate Is now brim formed to take advantago of tho
world's sugar shortage by developing the sugar and syrup Industry
of South I.'lorldH.
Million of ilnUan j,ave W.n spent In development work In
th district where tho syndicate will operate Sano analyst:) show
msnr content naunl to Cuba.
The advertisers have been Intimately connected with the devel
opment of this section for the last ten years.
We have a large acquaintance with the farmers, land-owners
nd local peoole and have the promise of their active oo-opcra-tlon
this being tho result of ten years' fair dealing in asoot that
money cannot buy.
Capital Joining with us now will" share In the building of a
Mjsinens thu ha unlimited opportunities for expansion on u
nnanclal plan which will bo to the great benefit of the original
syndicate.
"ontur" Is America's grealcit undefeloped resource. Why pay
wreirnera half a billion dollars for "sugar" that can bo made In
America. Titers Is a world shortago ofsugar and prohibition Is
increasing consumption enormously. Kull Information. Including
reierenoeu, statistics. ot,c furnished to responsible parties.
ADDRESS A-308 PUBLIC LEDGER
wiBSjggjg-t
rM; "in
r-r-' ,.s..w? .
1000
SOOO
1000
1000
1000
2000O
2000
2000
8000
3000
2000
2000
2001)
1000
2000
2000
Chi B
4000
& Q
01
01
01
04
04
ni'i
91
01
IM
lll4
91
91
111
91
91
91
II 4s
80
Chi & East 111 K 4a
20000 .... 21
Chi & Grt West 4s
1000 . . 4
1000 . "
inno .181.
Chi M & St V 3
1000 . . 57
Chi SI & l' s Ity 4s
1000 65 V
10000 6
1000 . . OH
OU St P cv 414s
SOOO
looo . .
2000 . . .
looo . .
C M & St I
2000 . .
3000 . . .
looo . .
1000 . . .
1000 ..
1000
7114
711i
72
72
fd 4
61
ni
01
60
01
01
NVC&II nn 3
4000 .... 04
N y c & ii n nn 4s
1000 .... 75
. 0000 75
1000 .... 75
8000 .... 70
N Y C ft II R K t
0000 .... 02
1000 .... 02
G00O .... 02
1000 .... 02
2000 .... 02
1000 .... 02
2000 .... 02
1000 .... 02
0000 .... 02
N Y C & St L D 4b
3000 .... 68
N V Cent h S 314s
1000 .... 08
N Y N II & Hart 6s
1000 .... 75
N Y Ilallways 6s
G00O .... 7
N Y Tolephones 4 14
1000 .... 70
N Y Telephones 6s
0000 .... 01
N Y W C ft B I 14b
1000 .... 12
1000 .... 42
Norf & Western 4s
1000 .... 75
Norf ft West cv 4s
0000 .... 03
Norf . West cv 6s
1000 ....100
2000 ....101
2000 ....100
1000 ....101
Nft WP Coal Co 4s
4000 .... 88
Northern Pacific 3a
1000 .... 03
Northern Pacific 4s
3000 . .. 71
2000 .... 71
7000 ..., 71
Pac Tel & Tel ua
0000 .... 88
1000 .... 88
Pcnna K It Co. Gu
St L I Ml & 8 n 4s
3000 . . 72
Bt L & Sun Fran aj
20000
lotoo
7000
SOOO
0000
1000
noon
3000
1S000
03
03
63
63 .
02
63
63
63
63.
B L & San Fran In
8000
12000
0000
1300O
10000
10000
10000
5000
0000
0000
1000
48
48
48
18
18
18
18
18
48
18
48
200O 18
10000
1000
1000
1000
1000
1000
1000
1000
48
18
18
18
18
11
1'7
18
ytl& San Fran A
1000
3000
100O
2000
2000
1000
1000
1000
2000
1000
2000
3000
58
38
56
08
58
58
68
58
38
58
58
58
5000
1000
2000
2000
1000
1000
1000
1000
SOOO
2000
57
57
08
57
08
08
08
GO
58
08
Hudson & Man In
25000
12000
ioooo
5000
G00O
SOOO
SOOO
20000
10000
5000
10000
2000
8000
10
20
20
18
18
10
10
20
20
20
20
20
20
Illinois Central td
1000 .... 72
111 Central 4o of '53
2000 .... 67
Imp Jap Govt lot
1000
0000
2000
5000
2000
10000
20000
10000
71
71
72
72
71
71
71
71
Imp Jap Govt 2nd
looo .... 71
3000 .... 70
1000 . .. 70
-6000 . . 70
0000 . . . 70
Imp Jap Govt 4a
2000 .... 58
1000 .... 58
10000 .... 37
000O .... 08
SOOO .... 58
Indiana Steel Co Gu
1000 .... 00
Internat'l M M 6a
1000 .... 88
Interboro Met 4'48
looo .... 18
Interboro Rap T fd
'1000 ...
2000 . .
2000 . . .
2000 ...
2000 ...
1000 ...
3000 . . .
Peo G L &
5000 ...
Perc Murquotto
1000 .... 71
1000 .... 71
Pcre Marquetto
tooo .... 85
1000 .... 83
n I Ark & L 414s
7000 .... 61
2000 60
88
88111
88r
88
88
88
88
C Co 53
66
4a
Gs
0000
1000 ...
0000 . . .
1000 . . .
2000 . . .
8000 . .
San An &
Pass lty
5000 . . .
Seaboard
3000 .
1000 .
6000 .
4000 .
2000 .
2000 .
000
60
. 01
61
61
01
. 00
Aransas
lu
0.1
Mr L aj
.. 10
. . 41
. . U14
41
.. II..
. . 08
03
Seaboard Air L fd
2000 .... 17
South'u Bell Tel Ga
2000 .... 83
Southern Pacltlo fd
11000
2000 .
1000 .,
1000 .
looo .
0000 .
2000 . ,
Southern
1000 . ,
2000 .
1000
4
.. 74
74
.. 70
.. 71
71
74
1'aclllo 4s
.. 08
.. 68
. 68
Southern Pac cv 4s
1000 .... 70
1000 ... 19
1000 ... 10
Southern Pac. cv Gs
10000 . .101
1000 . ..101
looo ... 100
10000 100
2000 ....100
Southern nail's 4s
1000 .... 51
10000 .. . 51
3000 .... 51
5000 .... 01
St L & San Fran
1000 ... 68
0000 ... 68
1000 ... 68
SL L & S West It en
1000 51
St L & 3 Wost R. 5a
4000 01
Union Pacific nil 4s
1000 .. 81
1000 ... 81
5000 .. . 81
Union Pacific P.R 6a
Today's
Lib Ilnnrl
Lib Bond
Lib Horn
Lib Bond
Lib Bond
Lib Bond I
Lib Bond
Vic Notpi
Vic Notes
i
Range
f
34.'...
1st la..
2d Uu
1st 4148
Id ls,
lib His
In Liberty Bonds
HUh
04.110
00.20
80.00
01.10
00.00
02.no
00.14
07.44
07.41
Low
O1.40
00.00
89.40
00.00
80.84
02.10
00.00
07.20
07.20
1:10
p. in
04.60
00,00
80350
00.00
80.00
02.20
00.02
07.20
07.20"
2000 .
2P00
' 1000
U K Of U
5000
3000 .
1000 .
3000 .
U K Of
rets of
1000 .
10000
1000
1000
soon
101
101
101
B & I '31
. 04
04
04
. 01
1 B & 1
29
90
90
00
. 00
80
BKolUB&I '37
0000
3000
100O
1000
3000
3000
1000
86
86
86
86
86
80
86
U S Real & Imp Gs
1000 .... 74
1000 .... 14
1000 .... 71
1000 .... 75
2000 .... 75
U S Rubber Co Ga
10000 .... 81
1000 .... 81
3000 .... 81
1000 .... 81
2000 .... 81
U S Sm'g M &. R 6a
1000 ....10o
U S Steel Co Gs
1000 07
Vlr Car & Chrni 1st
2000 01
Weat'n Maryland 43
1000 .... 52
10000 .... 62
1000 5214
Weat'n Pac RR 1st
tooo
1000
1000
Wilson
1000
1000
2000
1000
1000
2000
3000
. . . 80
... 81
. .. . 81
Co CV
02
.... 02
.... 01
01
01
011.
01
Wis Central Rly 4a
10000 .... 09
LIVESTOCK QUOTATIONS
Ch'eato, March 1. HOOP llwlpt
41,000 lion,) Loner. Bulk, f 14.25 15: tor,
115.25, hau- $11.10014.60, medium, 41150
Oil!. 111,1 11188016.25; light lljtliti"
tl4.S0n, heavy packing cows, emoolti
$12.7513,-,0: packlkr eow, rcuicb, 112 21
$12.75. l.lr, tl3.2tSH.5C
CATTLH Ilecelpts. 13.000 head. Firm.
Beef elCTs, medium aiid heavy WeUrM, choice
and prlmo S14.250K; medium and Rood.
tll.GOSlI ::,; common. 1901150: tlgiit.
good and choice, j(20 10.251 common nnd
medium, 18 ."iOlSi batcher cattle, helfrrti
$6.5013 roan, $8.2391 1.75: canners and
cutters, J1 lOO.SOi veaJ ralvos, tlS.SS
lO.GOj fcdT eleera, 7.6011 50, itockcr
ateem. 10 7 j 1 10.25.
Slir.EI' HrrHpte. 13,000 head. Firm
Lamlia. 117 Vi5t'J0.30i culls and common,
tl417.2.1. fucst. medium. Kood nnd choir,
til 2511 50 culls and commm JOtflU 75
mtutwrtli, March 1, CATTLE Itecelpts
1001) head Higher. Steers. $14014.50!
nenerc, u:.iu:.:oi w. miiviu. uaivee
Receipts, 7iki head. Lower. Top. 21.
uuvin UP'fiina, uu'iq ireao. wwiti neaw
lea. 414 23 St It no ! heavy yorkcra. I0(10 25
light yorkrr 1I5W15..10: plirs. $lllu.
WHELP ND LAilBS Hccclpte, 1500
head. Men; Top hcep, $15 50. Top
lambs, $20. 50
East hi. Loul. March 1 HOOS Ho.
cetptH. 13 50U had, Lower. Uulk. J1I2.V
18.30, hHV. J144M4.75r medium $11 75'
15.30: Mala $15J'15.S0: light lights $14 7'i
4115.25; li'avy tucking sows, smooth. $12 fto
012.7.5, lucking sows, rough, $129 12 50
plga. $12n4 75.
CATTLE nc"lpts. fiOOO hrnrf Higher
Beef stri medium and'.godd. $10 2513 25
common. $9J10: light, good nnd cholr-e,
$11.60(114 50, common and medium, $8.00?
10.25; hutchr rattle, hl(crs, 17 'J5& 10.30
cows. $7 25(310.60: canners und cuttre.
$4.3097 mhI calves, tight and handi
weight, J1J9 10.50: feeders steers, IS.oOtt
li; siocKer MPors. JTCio.&o.
HHEEP Receipts. 2300 head. Weak
Tirnbs $17 752?20,23: cUlltt and common,
$13.5017 50; Marling wethers. $15(plH.5n
ewes, medium nnd choice.1, $10 13.75: culls
and coirunon, $3 7.
Kanui Cltr. March 1. HOOS Receipts,
13,000 hvid Weak. Bulk. StS.flSW 14.25;
heavy. $13 404D13.00; medium. $13.70014 45:
lights. $1183011.53! puckliur bows. $120
1SJ?-.J,."5?' 4U014.25.
CATTLE Receipt 13,500 head. Strmur.
Heaw b;ef store, cholco and prime, $13.13
14.50, medium and goad. $11 4013.10:
common. $9.IOBtl.3S: light, gocd and choice.
$11.10613(10: common and medium, $8
11,10. hutcher cattle, heifers, $6 85I8U2.B0:
sows, $ 00011.10, canners and cutters,
$4.3066 60 veal raIvcs. $12.B014.SO;
feeder neers. $7.7312.35: btockcr steers,
$8 2.V(itn 75
SHKEP Receipts. 14.000 head. Irregu
lar. Limbs. I17'a,10.75: culls and common,
112173. yearling wethers, $lBB0t:
nwes. $11913 75, culls and common. 15 25 0
10 75. breeding ewes, $S14; feeder Iambi
$15.25817 73.
I JCM lIUITBin. .", J., .-unrcil I. l.AtTLb
I Receipts, 3500 head. Bteady. Shipping
I steers, $13S14.50: butchers, $9Ct12 75.
jcarllnas. $12 50918.60; heifers. $6111.
rows, $49' 1": bulls. $63'10.50: atockero and
feeders iiDiu; rresn cows ana springers,
$03 'it 173 Cal en. receipts, 2400 head. Slow
.$1 75 lower. $823.B0.
HOGS Receipts. 12,000 head. Steadv
Heavy. $15.6015.75: mixed, $10"1 "5
vorkers. light workers and pigs. 110.250
18 36: roughs. $13313.25; stags. $8910.
SHEEP AND LA51BS Receipts, 80nn
head Lambs, 10c higher. Lambs. $130'
20.85, olliors unchanged
DIVIDENDS DECLARED
Niagara Falls Power Co , quarterly $1.50 .
'on common und quarterly 1.7. on preterreo
i Common !s piabln March 13 to stock of'
I record March 8 ?nd tho Dreferred April 13 .
to stock of record March 31
isonnern racuic jiuuway, qunripriy 4-,,
prr cent, payable May 1 to stock rf record
MH'Ch 10
Canadian Car and round v Co. ouartcrl
of 1 per cent on nreferred payable April
1 to stock 01 record Mareli i'i 1
! Canadian General Electric Co.. extra 2 I
per cent and nuarlcrli of 2 nrr ccn on com )
mon. regular aemiannmi 01 or, vr v-in on
preferred was ulto de Ured. Dividends nrc
payablo April 1 to etoik of record March 13.
BUTTER, EGG SAND CHEESE
vn- YnrU. Mirrh 1. BETTER Weak
Receipts. H152 tubs. Creamery, higher than i
extras 414 iSOSc, creamery extras (02 score), i
(rPiljoic, nrstn t 10 hi ecoro. orwnoc
r packing stock, current make. No 2 3S'4c.
1 EGOS Unsettled Receipts, 27,123 cas-tk
Vresh-gathered extra lints. 08c ttrsts. 500
I B7c; rtato. Pennsylvania and nearby western
1 hennery whites, llrktu to extras, GS062;
state, Pennsylvania and nearby hennery
I browns, extras, notfjfllc. do. gathered browns
and mixed colors, firsts to extras, BTOOOc
I CHEESE Irregular. Receipts, 7B0 boxes
I Ftnto. wholo milk flats, held, specials. 204
31c; do, average run, 2fil923c: State whole
milk, twins, held specials, 29 Q 20 Vic. do,
1 a erase run. 2714 ff'JSftc . '
I I'-"' I
ioooo
1000
6000
20000
ioooo
1000
1000
2000
53
63-Vi
33
53
63
,13
53
33
CM& St I' gill 4V&S
2000 . . 76
Chi M & at P cv Ga
1000 .... 72
Chi R I & P ta
1000 .... 05
5000 65
3000 .... 63
1000 66
SOOO . 65
8000 .... 65
2600 . . . 65
10001) . . H5
1000 . . 05
3000 .... 05
2000 . 63
3000 . 65 lv
2000 . . . 63
Chi R I & Viio la
2000 .... 71
Chi & W Ind Il
2000 . 68!
1000 .... Sltls
1000 69
Chile Copper Co 6a
1000 78
6000 . "
8000 .. 89
12000 .. ""P,"
Chinese Oovt H"'K
Railway Gu
2000 43
City of Uordeaux a
30000 .. 6H
6000 .... 90
1O000. .... 9
Kan City H S Ry Ga
1000 9
1000 . 60
1000 60
Kan City Ter Ry 4s
1000 70
1000 71
3000 7 1
Lb'i M fc' Is of '28
200U 81
L S ft M b 1o of '31
tool) . 82
Lehigh Val en 414 a
soon 70
Liggett & Myers 7a
2000 ..107
Louis & N R R 4o
Kino ... 81
Louts & Naah t)t 6aJ
looo .... 08
L & N R R & S Ry
Monon 4a
2000 .... 03
Mich Cent RR D la
nooo ... 81
Mlel h'eel & OrU Ga
looo .... h:i
iooo .... 83
Minn & St L IUI 4s
21100 .... 42
1000 .... 12
M K City & Tex 4a
1000 .... 57
Mo Kan & Tex 2nd
iooo .... 33
Missouri Pac trm 4s
6000
iooo
ioo8
iooo
iooo
ioooo
ioooo
ioooo
55
65
56
55
05
65
63
05
.v-
1 '
8000
15000
10600
80
80
Moullo & O RH SI Ga
10000 .... 76
Watlon'l Tube Co Go
loqo .... 01
1000 .... 01
New Orleano & T 4o
5000 .... 81
New Orleans Texau
& Mex Illy 6a
30QO . 03
1000 . 53
1000 . . 64
N O Toxns & Mcx
Rly Co 6s
tooo .... 0414
1000 ,... 04
N T Air DrU Co 6t
Z0Q0 .... 07
wy9 t .
Co
)
4a
i
Railroad Bonds
and Short Term Notes
The following securities arc offered sub
ject to prior sale and change in price:
.,..,. Tleldlnc
isftn: About
Atlantic Coast Line R. R. Co. Cotiv. Deb. 4i, Reg. . . 7.15
Maturing Nov. 1, 11)39 .
Baltimore & Ohio R. R Co. Prior Lien Gold 3'-i. . 7.25
Maturing July 1, 1925
Baltimore & Ohio R. R. Co. First Mice. 4t 7.00
Muturing July 1, 1918
Canadian Pacific Ry. Spl. Inv. Fund Reg. Gt 7.45
Maturing March 2, 1921
Central of Georgia Ry. 10-Yr. Secured Ci 7.30
Maturing June 1, 1929
Chesapeake & Ohio Ry. Co. Conv 43 8.25
Maturing Kcb. 1, 1930
Chicago, Burlington & Quincy Joint 4t 8.85
Maturing July 1, 1921
Chicago, Indiana & Southern R. R. Co. 4 5.70
Maturing Jan. 1, 1956
Chic., Mil. & St. Paul Ry. Co. Conv. Gold 4 . . . . 8.15
Maturing June 1, 1932
Chic. Mil. & St. Paul Gen'l & Ref. 4i 7.40
Maturing Jan. 1, 2014
Hocking Valley Ry. Coll. Trust Gs . ., 7.75
Maturing -March 1, 1921
Illinois Central R. R, Co. Coll. Tr. 4i, Reg G 50
Maturing Nov. 1, 1953
Illinois Central R. R. Co. Ref. Mtgc. Gold 4 5.85
Maturing Nov. 1, 1955
Norfolk & Western Ry. Co. 10-Yr. Conv. Gs 5 80
Maturing Sept. 1, 1929
Northern Pacific Ry. Co, Prior Lien Ry. & Land
Grant Gold 4 Maturing Jun. 1, 1997 5.35
Pennsylvania R. R. Co, General Mtgc. 5s 5,70
Maturing Dec. 1, 19G8
St. Paul Union Depot Guaranteed 5 lis ,.,.,,.,. G.I0
Maturing Dec 15, 1923
Virginian Ry. Co 1st Mtge. Gold 5, Series "A". . G 10
Maturing May 1, 1902
Further information regarding any of
these issues may be had upon request.
The National City Company
Correspondent Oices In moro than fifty cities
Philadelphia 1421 Chestnut St.
Atlantic City Cholfonto Block, 1225 Boardwalk
rTi"
N""1
Bonds
ft.
Short Tsrm Notsa
Acceptanct
3
i"' -At'
iW
fr ' v
2,500,000,000 Francs
Belgian Government
5 Internal Premium Loan
INCOME, premium, and principal of the bonds issued under this
loan arc payable in Belgian francs, and their dollar value is dependent
upon the future value of the Belgian franc in the foreign exchange
market. At the present rate of Belgian exchange (February 28th, 13.75
francs to the dollar) a 500-franc bond
would cost about $36.36; whereas with
francs at the mint par of exchange
(5.18 francs to the dollar) the bond
would be worth at par about $96.50.
Should exchange return to par, an
nual interest of 25 francs per 500
franc bond would be equivalent to
$4.82 or about 13 return on the
present dollar investment.
At the Government's option the entire
issue is callable after May 15, 1940,
at a premium reduced by 5 per
annum discounted for the average life
of the bonds outstanding. If called
on May 15, 1940, the premium would
be reduced to about 60 franc3 per
500-franc bond.
Subscriptions will be received, subject to confirmation and allotment""
on behalf of our Brussels Office for the account of the Belgian Govern
ment; books close in Belgium March 6, 1920.
Price, 499 Francs per 500-Franc Bond
Subscribers may make payment in full at time of subscription or in two
installments, as follows: 100 francs at time of subscription; 399 francs
on May 15, 1920. Payments shall be made to us in Belgian francs. We
are prepared to purchase francs for the subscriber at current rates of
exchange.
Receipts of Guaranty Trust Company or New York will be delivered
against payment and bonds in temporary or permanent form will be
delivered if, when, and as issued and received from our Brussels Office.
Guaranty Trust Company of New York
Coupon Bonds in deaominc
tion of 500 francs.
Interest from May 15, 1920,
payable May 15, and No
vember 15.
Redeemable within 75 years
by annual drawing at
150 (750 franc for each
500 franc bond).
Drawings March 1, 1921, and
annually thereafter.
May be called after May 15,
1940.
Premiutn and interest pay.
able without deduction for
any Belgian taxes, present
or future.
FIFTH AVENUE OFFICE
Fifth Avenue and 43rd Street
140 Broadway
MADISON AVENUE OFFICE
Madison Avenue and 60th Street
LONDON LIVERPOOL PARIS HAVRE BRUSSBLS
Clayton F. Banks, Philadelphia Correspondent, 121 Chestnut St.
ll'c do not guarantee the statements and figures presented Unrein, but they arc
taken from sources which tec believe to be accuralc.
Tenth Annual Financial Statement of the
5!t&:
STREN&T
sat9r!Cv
nMrBc'vf&&y Jr rvi v
wm tr ser
IK xS&j'' IL 2$
rxi?ssyy5C'jy
S55
NEWARK, N.J.
as of December 31st, 1919
ASSETS LIABILITIES
Cash in Banks and Ofliee. $169,169.30 Reserve for unearned pre-
Mortgages, Stock and miums $1,335,723.12
Bond Investments .... 2,800,335.50 Reserve for Liability and
Interest due and accrued. . 29,612.38 Compensation Claims . . 1,098,670.00
Premiums in course of col- Reserve for other than
lection under 90 days. . 571,707.39 Liability and Compcnsa-
Accounts receivable 7,916.21 tion Claims 111,661.58
Reserve for Taxes, Com
missions duo and all
other Liabilities 171,669.11
Capitul $500,000.00
Net Surplus .. . 338,316.97
Surplus to Policy Holders. 838,346.97
53,579A)70i78 $3,579,070.78
Conmlled unrler tho laws of ihr States f Nmv York ami Mansacliu-tta nnd oxamtned
and certified by Jouenli FrcctHtt & To Iw-. n-.-cseiitliiB the Banlitutr und Insurance Depart
mem of tho Slate of Now Jcrbi-) .i of December 31ut, U19.
At u meeting of tho stockholder of the company held Jununry 21st, 1920, it wui voted to
increase the cnpiful stock from $500,000.00 to $-600,000.00 and add an additional $!0o'o00 00 to
the surplus. The entire amount has been subscribed for and will bo fully paid March " ltT'O
J. HORACE SHALE
Vice-Prcs.-Gen. Mgr.
C. E. WHEATLEY
Asst. Treasurer
I!16 South 1th Street
OFFICERS
C. W. FEIGENSPAN
Prcbident
E. C. FEIGENSPAN
Vice President
PHILADELPHIA OFFICE
Director of Sales
Wanted
A lit p liuhlnr.ii irllrr uml t'roilurcr
ran mitkp u tn pwlltitble comic,
tion ultli u liltli-truilfi Intrklmnit
usiiktns; houe lutliic "0 nraurlirs.
Man want I. one with Inlllatlie
nnd nmbltlon wlii) run nira.ure ui to
tills A0,000-u.)rur lulll(ii),
If .a. mu.. .i..nllf.r unu.-hv I. ...
fldnc nnd dttnll wltli Miwrlince und
rvfrrentM. Address bx Iftttr onlr to
"tl, M.. ear of Klenmn AisU Aceorr.
113 Broadway. !evr York,
ill'
Z service
J s r llllll
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W. VAN TINKLE
Secretary
WINTON C. GARRISON
Treasurer
.MITCHELL & 1JRADV, Mgri.
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MldUnd Vr It. It. ft., 11MU
Soulhrrii lt, 6, Wi'l
Ijinlnn . Amfwr 5, 1U20
Cons. True of f. .1, 8, 1033
HENRY D. B0ENNING & CO.
HTOCK UXCIIANGIS HLILniM)
tllrect rrltule Telcplionn t New York
Jlfiubers I'lillu. block Kirliunie
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1XS.SJJUL1 SI J JJ j IMJULRtimmmm p s H I
ELDERLY MAN
AcIIto and rueutatlr silert,
ilc. Ires position ms.
niiBer or attndant In
Bank or Brokers' Office
A 133, Ledger O 111 c
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TAX RETURNS
I. Franklin Howard
fa Accountant
PlioMel i8prflfiH , ( I4 Xtle, VUki
Stockwell, Wilson & LiMN
Certified PufeUc AcctwUnU
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