Miag'EgaritH 'T v-" m'&S TW- .. r. tv' -, 'A &X v V v&K r sty. . "Tr i '. . -.' . n(-i i ' t " , ,, M- y'ii. ai .TV. ;ji ? sVVil H ;" Ap !t' ' v "'i-.1"? '3.', .;.& . ' 1 " EVENING PUBLIC LEDGER-PHILADELPHIA, THURSDAY, MARCH I 1920 -50 -? TM Wf m fe ll The Railroads under the Cummins-Esch Act A theoretical application of the rate-making provisions of the Act to fifty-seven railroad properties. Wc have prepared for distribution a comprehensive analysis, frivinp n hypothetical interpretation of the possible effect on earnings of the new rate-making provisions with n view to making a comparative study of values. Copies on Request Clark, Dodge & Co. Established 13-17 51 Wall Street. New York Injcome Tax Assistance The Internal Revenue Bureau has assigned one of its representatives to be at this Trust Company from March 4 to March 15 daily, for the purpose of assisting the public in making up their income tax returns. CONTINENTAL'- EQUITABLE Title and Trust Company TWELFTH ABOVE CHESTNUT PHILADELPHIA si.ooo.voo c.rnL $1,000,000 suiiplls OY Ell $10,000,000 DEPOSITS ARREST JOHN S. HANSEN Said to Be Man Who Gave Ball for Jenkins In Mexico New York, March 4. "John S. Han ten," believed by the iiolicc to be tbc "J, Halter Hanson" who furnished ball for V0. Jeiilflni, United Htntca con sular agent nt I'tirblu. Mexico, after tbc latter hml'broii arrested by tbc Car- ran.a authorities, was tnlfcn Into cus BUSINESS NOTES Quit 11 few tlrs K0O1I line hate still to bo opened for the fall 1920 sea son. The deslro of mill representatives to see conditions become more settled Is what Is holding back many. There nr many Indications that piece EOodB agents are none too sure fit the outlook. At present the murliet seems divided Into two major groups. One of these appears willing to keep on doing "V :V; " iT-V.i ii , l,.. liar !i,. business even mougn, prucrs in no near luuuj ni uiu nuic " i inlr!".i futuro have to tie laxcn ni price con on a bench unrrnnt ImipI in mill in CCSslon!i. The other group Is not dis connection Willi ail oiirni' Hiirgi-ii 10 have been coniniltteil in tbli city. 'Mohn H." refused to i-uy whether bo was or was tint ".I. Salter, and the police made no effort to cxtnbllsh a positive hlontlficntion. YJ$incorporated VI08-1 'J Close of Business, Fob. 28, 1920. RESOURCES Loans and Investments'. 6(3.885,825.47 United States Bonds... 124,250.00 United Stntcs Bonds to Secure Circulation . . 1." 0,000.00 U. S. Treasury Certificates. 210,000.00 J")ue from Banks 470,151.21 Cash and Reserve 7o3,2 13.53 $8,893,470.21 LIABILITIES S2SO.000.00 Capital Stock ... t ... . Surplus and Not Profits Circulation U. S. Certificates of Indcbt. Borrowed.... Bills Payable with Federal Reserve Bank Reserved for Taxes and Interest Reserved for Deprecia tion of Securities S21,2fiG.9o 1 13,500.00 210,000.00 200,000.00 49.756.77 25.000.00 Deposits 7,103.946.49 $8,893,470.21 FRANK ADSHEAD. Cashier. posed to ici lis inrgo proms go ay tno board. ' The apathetic trad condition which spread from the nasi, took In the Middle West und other sections, has not cast Its blight on the South, according to reports from that district. Manufac turers of clothing' and women's garment regard the South now as very nearly the one bright spot In tho outlook. Common dry hides nx largely neglected, Importers still quoting on a basis of forty cents for mounUln Dogatas. The city packer hide market Is decidedly dull and prices am about nominal In view of lack of trading. A few umall Inquiries for branded steers are made. Country hldo buyers dis played little Interest. One reason why retail garment buy ers expect to sec fiven some larger re ductions mado In the prices of the mer chandise they buy 1b because, as one buyer expressed It, "cash speaks louder than It ocr did before" As he ex plained the situation, the garment manu facturers need money because their usual financing sources nro no longer avail able. To offer tho usual terms, ho pointed out, docs tho seller no good, for ho cannot meet his obligations with obligations Incurred by his customers. Consequently, it has grown to be a ques tlon of "Msh versus credit," and cash will according to this buyer, be able to drive even harder bargains. Financial Briefs CHARTERED 1836 GIRARD TRUST COMPANY BROAD and CHESTNUT STS. CAPITAL AND SURPLUS, $10,000,000 Acts as Executor, Trusteo, Guardian and Administrator Interest Allowed on Doposlts Momber of Fedora I Reserve System E. B. MORRIS, President The HnnU of Knglatid minimum rate of dKcouiit remains unchanged at 0 per cent. Miami Copper Co.'s February output totaled 1,080,020 pounds of copper. JTIie average price of twenty active in dlfctrlul.j stocks advanced 0.27 per cent yesterday, to 1)1.1).", while twenty rail roads declined 0.58 per cent to 74.2j. "The bear crowd operating in Amer ican Woolen," fald one of Uie news tickers yesterday, "refuses to pay any attention to the immense assets back of tin. rommon iitork." The bear crowd apparently forgot nil about book values In Woolen and n groin many oiucr in Idustrials mauy weeks ago. Tin- American Rndiator Co. in the eleven months ended December .11, 1010 ! the companj formerly closed its fiscal ! vear on January Dl reports net profits i after charges and taxes amounting to i s;t.ft3ft.24T. This .was equal after the deductiou of preferred dlvidends to KiM.lll a Fliare earnrii I'o iiiu oi-.-io,- 400 common utock outstanding, us com pared with $10.02 a share earned in I the fiscal year ended with January .11, 1 1010. The Municipal Service Co, reports earnings of subsidiaries for tin1 jenr I'lillailelplila, l'n lb. SMIi. I02U ending December .51 . HUH. as snowing ,, SI2fl.310.17 available for dividends. RESOURCES alcr setting aside !?11fi,01S."7 as a re- Loans and Investments ?U,17S.8 to.lS , s(.tVi for renewals and replacements in Accrued Interest . . ?l'i4,8.'n2 addition to the ordinary maintenance United States Bonds . . -OO.ooo.pp rlulrKrs, The Brss earning were Due reMnks-. '. '. '. . '. '. X '. 9H .487 M . 2.103.80.12. as against $1 .7B0.200.li0 ClMrlng House Kxchangea 1 98,50571 S for ttic previous iwcivc idouui? Caah and Itcaerve 1.337,695.09 Philadelphia Markets PROVISIONS Tho m.i-k.t n'jltl but itdy. . Th auotatlona! n..f. in seta, amoked ana air drltd, 50n: bMf, knuchlf" ' 11na5IJ; amoked and alr-drted. Olci wrk. 'amllir. B3c hami, a. P. cured, loote, 27029CI do. Wlnnjd, loo.V 28MI a00 d(. do. moked. 2?W 028ei hann. boiled.' bonele". 8nci ! nio anouldera, 8, 1". cureo. ioob. amoked. 22c: bellied. In plcklj,. loose. 26C! breakfast bacon, S2o. lard, 24Wc DAIRY PRODUCTS CHEESE. The market wa dull at th recant decline. Quotations! New ork,wlipl. milk flata, held, fancy. 2 "4 .fSo?,' pSi! blsheri held, fair to food. 28J4 O 2cl cur rent make, nominal! 'con,ln.,,h.4LVJS.,, flata. hM. funcv. unU OHOci tneclala higher! held, fair to good 28't2lei Jobblnt aaiea oi tancy neia goodi, j.uojt. POULTRY . I.IVK Trade win alow and prices favjrM buyera. Quotationt: Fowls, fine. '. 44c: do, Inferior. 8ffl4lrj broiling chickens, fancy, eoft-meaed. welghln W' !' apiece. B!S0tci spring chickens, a""-, oft'meated. 4244ci dOjJnferlor. p"?;1 ataagy young roojters. ap?2c: f1! roos' ers, 2502BC! ducks, wltlt I,"',f"cid3! Indian Runner. 40W42CI do. Muscovy. 3 2c turkeys. 4046c, r'eeons. per pair, oo 000c. FRESH FRUITS The marUl waa generally steady, but . rtj mand Vaa only moderate.. Qiioutlonsi Apples, per bbl as to quality. 44 W0.50: do, per box. I204: cranborries, per bbl., $48i do, per crate, 78cWI2.no, oranges, l'lorlda, per box, '4.1H07.6B: tangerines Florida, per W box. I2.9BOM Brapefrtilt, Florida, per box. ISO 4i strawberries, Florld.i per qt . 007Bc VEGETABLES Demand was fair nnd alues were well .l-kl.fn.. . !..!.. mtnrll Af mOlt deSCrlP- tlons. The quotations were aa follows: WblW potatoes. Pennsylvania. rr cwt . BWu.l,i. ao. niw TftrK. nar cwi.. 7.o,'..j -"; iiM. iir n.murr per 100-lb. sacks Tel low, U.25; do, No. 2. 1404.23. No. 1, IB.7BO Vch? York Curb INDUSTRIALS High I-i'w Last Acm Coal 1' 1'j ') Amor Candy ai "H 2J Aetna Explosives 7. 7 American Marconi Ss 64 J'i Amol Tire Stores r B R A mar Safety nator im; lo'i 10 nrltlsh-Am Tob rer -7 7 Oeneral Asphalt 8S 81 W 84 , General Motors ........ 24V4 24 24' Indian Tacking 13'- 12W 12'4 Montgomery-Ward 3Sj SB 35 Orpheum 01 4 30 31 Perfection Tlr 4), 4 4, Hubmarlno neat 15,4 14 IB Tob Prod Exp 10 15., IS IT S Hteam 2 214 '-'' United Retail Candy 14J4 14. 1, United Pront Sharing ... 21 2, 2'. United net Prrd 12i 11 12S U S High Speed 32 30 3.' STAND.MtD OILS Kouth Penn Oil 320 31.1 Stand Oil of Calif 3IH 8IU Stand Oil of New Jersey. .71 1 i 10 Stand Oil of Now York.. 398 3B5 313 3 1 H 711 3(S INDEPENDENT OILS $12,384,961.73 LIABILITIES Innnmn I nv Vamnio in Wdcf MhilonAinnio 111LU1UC IdA UC1 YlWV 111 TTCOl I lliiaUCIUIlla rapitai stock 1 i Surplus and N'et Profits... The Internal Revenue Bureau lias assigned one of ,jUs luSfifio?1. eta'.".". representatives to be at this Trust Company from March 4th ! imrividuS" Dcpo'si'tH '.'.'.'. ... -r x. ,riL i -t e ii r ' t' it ii- Opllnl Stock Sub. Acct... until March 15th daily, for the purpose of assisting the public, im- Federal neserve Bank in making up their income tax returns. You are cordially invited to avail yourself of this convenience. MARKET STREET TITLE & TRUST COMPANY S. W. COR. ")2D AND MARKET STREETS j4no.ono.oo 1,174,467.36 39,805.26 3I.7II3 67 The hiKlieRt price ever recorded for the sale of one ahare of stock in the history of the New York Stock Ex change was paid yesterday, wlmn ten hhares of Atlantic Refining Co. commou stock sold for Rin.'O a share. The previous record was made May 0, 11)01. iflR.inn.nn uhen kohii'th racine iouchcu ,-iuuu n sno.fii5.44 during a panic 178 200.00 465, 050.0a The New York subtrcasury gained CJ tRS fWld frnm tho hnnk vrstrrclnv. $12,384,961.73 teduclng the rash net loss since Friday JOHN G. SONNEBORN. Cashier. ' "' '".r,1000- 1812 THE 1920 Pennsylvania Company a for Insurances on Lives and Granting Annuities TRUST AND SAFE DEPOSIT COMPANY Capital and Surplus - $7,000,000 Member Federal Reserve System nrtoAii sTr.nnT ofi-ice thettnut and Juniper btrrrta 517 Chestnut Street Philadelphia -o- Income Tax The Internal Hovonuo Rureau has assiunod one of iu iep rosontativcs to be at this Bank from March ! to Mnrch 15 ilaily, for tho purpose of assisting tho public in making up their income tax returns NORTHERN NATIONAL BANK .SEVENTH. GERMANTOWN AVE. and DAUPHIN ST. PHILADELIMH iaI.lI.TIIR TItUSTEB (IMUTElti:i 1S0 FIDELITY TRUST COMPANY Member Federal Reserve System Capital $5,000,000 Surplus $16,000,000 Main Office: 325-331 Chestnut St. 43-53 S. Fourth St. DUIMMit.TOK lift) Broad Street Office: N. E. Cor. of Broad and Chestnut Sts. GCABUIAN Fourth Street National Bank (February 28, 1920) RESOURCES Loans and Investments $59,490,051.48 Customers' Liability under Letters of Credit and Acceptances 2,721,722.07 Due from Banks 13,121,282.05 Exchanges for Clearing House 1,923,377.24 Cash and Reserve 5,459,760.98 $82,716,193.82 LIABILITIES Capital Stock $3,000,000.00 Surplus and Profits 7,682,526.52 Reserved for Taxes and Expenses 113,507.03 Letters of Credit issued to Customers, and Ac ceptances 2,733,463.07 Deposits 53,255.001.22 Bills Payable with Federal Reserve Bank secured by Government Obligations 10,475,000.00 Rediscounts with Federal Reserve Bank 3,532,075.97 Acceptances of other Banks sold 1,924,620.01 $82,716,193.82 Every Form of Domestic and Foreign Banking. Unexcelled Facilities i:. I. SIIAMIACKICIt, rrmldrnt II. J. CI.AHK. W. A. IIUI.KJ.KT. AhftL Cashier Viie-Pren and Cashier C. I". S1IA1V. Jit.,' Asst. Cannier W. K. IIAltliT. V ice-I'reslt'ent A. MocMCHOM., A.nt. Caaliler w. h. nusiriiunvs, vioo-Prea. a. u. btaufvi:ii. Aubt. Cashier DIRECTORS Ch A unll A. 11, Nowbold, Jr Ururo rtu Pont i.ubo II Cloihler. Jr. ;orK P. Tylfr W. Avtii lUrrlman llnhiri I llnootr Allied Oil H AmI Hojally 33.. Atoclatcu l's Hell I'ot l'i Iloone Oil 44 Holon Wyoming 1 A C'nrll, Hvn 110 Cosden & Co V Dominion . . l)tlnuennn . . . t"ll. ,,.., .... cf f,K U.,111 rn c f i:nglner Tetrol u K.rlrl Oil ljf IVtltrat Oil 3i (llllllan.l IP. (ilrnrucli Oil 3'. Otiffry lllllesplo 2I' Homo on .1 tt 20U 'l lludunn Oil nit I'rtrni IMaml Oil I.lvlnftJton Magnm ... . . i . Merrllt Oil Mex Pan Morton I'et No Am Oil Omar Oil Phllllr.1 Pet Producers . Itennem nyan Oil Halt Creek Prod . Hrquoynli oil Rkolly nil . . Slmmsi Pi't ... Spencer Pet Texas nanser . . . Texan Co w I . . . . Troplonl Oil Victoria nil new . ... Vulcin Oil Whit Oil Woodl'Urn Ohio Itanicr (in ,1 V, r.u 3 4. 37; 40W 47 2V!, JD ll"i ' ft 33 1! 4 l'l Mil n 111 ll'l 1 11 3', 27'. : mi 09'. 1. r 3 4i 3IH, S 3"4 48' nil 3.1 I'j l'. M 'i 1B i ttu 3'2 2T4 3 SI) (ID'i 414 '? 5'i 3 JH 3i 4S 37'i S 3'i 4U LIVESTOCK QUOTATION8 Chlcaro. Ma 00 hi ad. .Ixwar. ron A. 1IOOS ttecelptf, flO. ?. Top. llS.nOl bulk, t4.40 45-15- I". lviUWWta, SSI !.. viit.nti iiani. iiiiB.tt i,.m. -- tlj.2S!$.iO, heavy packing wji. I.I TO 2. nn B.lO. heavy packing ow. mwiin, ROi narklnr ow. rOUfn, 1I..1UW l.nui rlita. 13.2b614.B0. meadr nA'hi.iii-mi 11.OOO hMO.. ateaay. Jlfef ateera. medium .and hcavy.j tlioiee ana .rime, I14.2B10! medium and rood. 111.50 8ii.a.i common, '""F,,'U .n mV. nl choice. I12.23IR23i rmm05.rf5?, "it dliim. I0U12.2S: butcher cattle, htlfera, T ti 1 3.2.V, w: ' 10.76 W 1 2.2S 1 c Jinum nd 10 BOi feeder aleera, 8.23eil.00l atockcr ateeM. 710.B0. ... . . w,,i, HIlHliP Itecelpta, 11.000 .'' n,!,4 Lambs. S17.2820. rulla and common, 4 MlTi cwoa. medium, nood and c hole e, u 14.23; culls and common, 0lO. Kaat 8. IuU. liTTMArcli 4-rrHQpfc necelrt.. 1.4..00 Ma-1. lw. .Kulk.ll4.7B rrflin.Hn h.nvv iij. ,', ,.r'i .".''.: 70 of 1 1. nil; iiiruiuiu, ll.V10fH3.40; ll(hi iBCKinV IDWIi, aowa, rousn H4.7BeiB.30, llaht, JIMOg llahta. l4.HffllB.3Jl beaw pi smooth, tl2.B0O12.Wl oacklna? 12Wli.B0j pl(t... 1 110 If. . alccra. medium and heavy, cholcn and 7 l8,BO01Bi medium and eood, 110.70 comilion, IBBilO.BO: Ight. ,rood and Htronr. CATTLE llecelnta. 2?op neaa ueer m. choice, $12.25014.50! wnmon Mia naium. cniur, iivucim '"n 12l comrtion, nhiSl tin tt tU KAyAllOa KnlrhnC CnttlO 18'.75! cows. I7.28lli "" "4 e4,"Wj 14,2807! .venl. ca yes. Ilrtt .and Jftnd? ''feYl'wfplfoO, he.d. Steady. IftrVlW!8rTfnVe"thff. ewea. midluni and choice. J1O.23014I culls and common, Ji0O. Kami HulTnlo. X. V., Jtarch 4 llecelpta. .)U neaa. . easier. -CATTLE Calves, re- Mtntu n'oo h.nrf: 11 lower! Snf22. HOOS nceelpta 3200 head. 2Bo to 40r lower. Heavy, J135Cin.no. mixed, S186T 1(1 1 23 yorkcra. il 28(itl0.3Bi llcht do. $18.75 WIH; plga. JlOfflO.50; rouchs, 113; staga, a .. . A HIIEEP AND I.AMnS necelpts, 2480 head, blow Lamba. I13O20.00: yearima;, I12W1B; welhera. jlB.50if81il cwea. JO 14. BO: mixed sheep, J14.8O01S. Kiuinaa City. March d. 11008 necelpts, RIAn ..M fltrnnir. Tlnllr. t1Ab14.nO Iteavles J14W14.40: mediums, J14.10CJ14.0O; liRhla, si4 cojcio; pacxinr eows, fi.-...iuij; plr. l2..win.za. CAT TL.U iiecipi. iuuv neao. HeaT beef steers, cholc and prime. J 13. 00 14.7B; medium ana eood, iiscjia.noj com mon. J03i!Hl.n0i light, crod and choice J11 KSfrl 3 S3; common and medium, 8.B0 em S3, butcner cattle, neirers, jt.iuwi.uk; co JOIIO(1I40: cannern and cutters, 14 2300 Ml; val calves. $1315; feeder strers. JS 2312.40; stockcr steers. J0.806P 11 23 fHIKEP Hecelpts. 1B0O head. Stronr. Lambs. H5.B0dl0.23; culls and rommon, 112 10.53; yearling wethers. J1B17: ewes, JIUri3.73; culla pjid rommon, $5.2531ft.7Bj breedlre ewes, JO.t.0913; feeder lambs, $14.75 010.75. riltabnrtli, March 4. HOOS Receipts. 1000 head. Higher. Heavier J14. 74014. SO; heavy vorkera, Jlfl.OO18.76j light yorkors. tIB.73lflr plirs. IIB13.00. SHEEP AND LAMBS llecelpta. BOO head. Steady. Ton sheep, $15.30; top lambtr, 120,80. QAI.VES Hecelpts, 100 head. Steady. Top, $20.60. I Bank of England Statement Ijonilon, Morcli 4. Tlip weekly utate meat of the Hank ot England hIiows tho following cliancon: Total reserve dc rreased l.-17(l,000; clrculatiou In creased 4,(120.000: bullion increased f.',iri2.in.": ntlier securities increaned 1,027,000: public deposits Increased 5.117,000; other deposita decreased 37.413.000; notes reserve decreased 1,432.000; Rovernincnt securities de creased 32,432,000. The proportion of the bank's reserve to liability this week is 10.10 per cent; last week it was 17.02 per cent. ... 'ii n't 35 34 20 - 20J 1' i; (14 2H'v ;? 47 21 m 7 2S'. 0i MINING Alas. tlr Col Atlanta, :. llelcher Divide Ilelcher Dl1d F.xt Ilooth lion on Mon Caled Mln Canada Cop Candelarla M Cons Virginia Cresson Cold Crescent McNamara Pe Heera Divide Ext i:ureka Croesus 40 Mlnlnc (lolden Gate Exp Oold Cona Hold Dlvld- . Clold Kewana Hold Mercer i Hold Silver I'lcl 1 Oold Zone . ureal uend , He. la Mlnlnc How hound . . . Tumtn, i;xtennon Knox DIMdo I.n Honn Mln ni; McNaninra . . . . . .Marsii Mln . . . Mason Valley . . . Mother I.odo Murray Mob Neada Ophlr North Star . . Rochester Mines Tlrpe droup Kin Toy Seneca Copper Sller Klnii of Arlt 8 Sliver Lead Success Mlnlnir Tonopali Ilelmont Tonopah Cash llo . . Tonnpsh Divide . .. Tonopali Kxt . Tono-JIm B Tcnopah Midway Tonop.ih Mlnlna- Tonopah Mltpah Tonopah Itescue Eula . . . tJ S Cont L'nlted Eaatern West End C White Caps WllWt . . Terrlngton . . . . . no.vns Alll"d PacUinp fls . . A T T us of 22 llelgUn Oov lis of '21 . . HeUlan Ciov fls of '28 r c c a st l, Cleneral Elec 0e Itussian Gov flVjs . Hlsh 1 u 12 12 r, 02 33 l'i .1 . n 1!S ti n n :i 3 1s 2rt v.. t 7 H'i A A 18 2', 80 75 3R , K . 10 A . 2, Low 1's 12 12 r, 2 35 .?: i 12 11 3 3 IS "n i 3?, 0'4 ,. 2W r.o 75 35 H 10 7U l.Vi . .A ?H 2 A Last J,H 12 12 5 r.2 33, ', 4. 40W ? i 13 11 .1 3 IS 20 3 !'. 4 7 ll"j BO 75 3H 8 16 7' 1BV 21 IB 2. 10 10 3J, 1 12 Sidney ir.T'ler. Cha rn .11 Pranlt T. Tatterson William A. Dick W. H. Nicholson Vram:! I. Gnwen K. F Shanbacker James M. WUIcoj William do Krafft Genrae K, .tohnson Ineph K. Wldener Marry A. Berwlnd William M. Pott" Georice Dallas Dixon lonathan C Neff 70 07'n (Ml S7 IM, 37 10 10 .V, ,!'5 73', n4'4 07V, HO llftij 7 2 A ,,J 10 10 At IT, 75T, 114 074 no son ("? 37 "VIA COLON" (These two words transmuted fret of charoc 61 any Ttltoraph Co.) Jobn L. Merrill, rreldent DIBECT nODTE TO CENTRAL and SOUTH AMERICA 80 Ilroad St.. New York riNANCIAT. LOCAL MINING STOCKS TONOPAH STOCKS Bid 07 .23 .13 .110 .0 .! .20 ii-: .on 1: International Freighting Corporation Regular Sailings ifiR Throagh BUli of Lading LINES PHILADELPHIA 4o SOUTH AMERICA Calilne at rernamhneo, nahla, Rio d Janeiro and MonleTtdeo. nia. vki limed llarno Aires, l. I'jsl PHIUDELPHIA to FRENCH ATLANTIC PORTS , BordMU. JUtto. Dunkirk, tie. OPFlflW Lfa7oI Buildfn, PlilUdipW. Talephono Lomhard 3633, 3834 Ttlrvkea. CrUaod 11Z0 li;0 Uroailttajr, Jitw Teik. r The Market Street National Bank of Philadelphia l'EIIJtUATlY 28TII, 1020 RESOURCES 1 Loans and InvofltmcntH $18,010,624.76 Cub totnera' Liability i n il c r Coinmerriai I.Mtern of Credit and Acceptances. . . . 2,405,530.07 Due from Hank 3,278,706.88 Kxrhaiiseu for Clearing Houso 1,1B3.576.45 CaBh and Keservc 1,911,648.12 LIABILITIES Capital Stock Jl. 000,000.00 Surplus and Net profttH 1,878,240.62 Circulation . . Commercial Letters of Credit arid Accept unceH IJIIIh I'ayahlc nnd He discounts P 11 1) e ral Jlcservo Bank . ... Deposits 600,000.00 2.435.1G7.47 5,288,940.00 15,07,647,39 $26,829,95.28 $26,829,995.28 JfBJjn, Y, SrKLMflBV, Cashier. f'ash IViv Jim Butler MaeNamiira Vulwav Mlipah i:xt Montan, North Star itescutt Kula Tonnpjh JJxi West i:nd West Tonopah DIVIDB STOCKS Allied Dlvldo . .02 Alto Divide . , us Hekher 111 Hen Hur im Mrouch DlMds IB DUIda Kxt ,', Dlvldo Syndicate oj Dlvldo Cons 03 Dividend . 10 Kast Dllde ns Hsshrnufk Divide 0 lllelj Divide nj rteort Divide 15 lleno Divide ol1 Hcsetta . n.i silver Klnic . . 07 Tonopah Dl ld ... n Tonopah HaehroucU ... 10 VI, lory Dllde . .... 04 erde. Dllde 10 Zone, . .... 'jr, (iOI.DKIKLD STOCKS Atlanta ns lllue Hull ;n5 Ilooth ns r o d '.ni Cnmhlnitttnn Fraction Aft I frackerjaijk on DlamondOeld n II ni 'Dslsi . o" I Florenoo ,j Ukildlleld Cons la Ooldlleld Merger ...... 02 fioldneld Dev lOreat Hnd n' Juinlio Dxt . mi Kewana n ' I Ixmo star oi nd lima n 1 Mlver I'lrk i PKarneau . 03 M!8CEl,l,ANi:OlJS Amraro , rlion United Kden Mother Ido . Nevada Kill Nevada Kand Nevada Wonder ...,. ....... Tecopa Ilne ,ii,'i,iAi, whin c,..,.-j;:; NATIONAL CONDUIT AND C.U1LK CO.'. I NO First Morttaro 0, Ten-Tear Sinking Fund Oold Bonds Pursuant to Article V of the mortrars securinir the abovo described bonds of the National Conduit and Cable Co.. inc.. and dated April 1. 1017, Hankers Trust Co.. as trustee thereunder, hereby gives notice to the holders ot tho above-described bonds of Its Intention to apply the moneys required to be paid on or before Mnrch 31, 1020, to tho Slnltlns; Fund provided under such Ar ticle V, In the manner hereinafter do scrlhed. and accordingly Invites offerlnes for tho sjle on April 1, 1H20, to the Na tional Conduit and Cable Co., Ine.. for said Interest acrrucd to April. 1020. All Ten-lear Hlnklne Fund Oold Uonds. at prices not cicerdliiK 103ro of their pnr value, and Interest und accrued to April. 1020. Ml offcrlnca made In response to this notlcs shnll stato tho fac amount of bonds of. fered for salo nnd tho price at which such bonds are offcrid. and shall be slcncd by the holders thereof, nnd shall be made sub ject to tho rlKht ot tho undersigned to ac cept all or anv part or none of the bonds offered, All offerings must bo made to the undersigned Inclosed In scaled envelopes, and must bo received by the undersigned at Its Corporate Trust Department. No. 18 Wall street New York city, beforo the close of business on March 11, 1020. From the bonds offered In response to this notice the undersigned, qn behalf of the said National Conduit and 'Cable Co., Inc.. will accept such bonds us are offered at lowest prices, not exceeding said 103 and Interest ac crued to April 1. 1020. to an amount suffi cient to exhaust, as nearly as may be. the aggregate funds available for that purpose, as hereinafter stated. Pursuant to said mortgage the sum ot $62. TOO Is p-uablo by the National Conduit and Cable Co , Inc.. to the undersigned as trustee, on or before March 31, lU.'O. for tho purposes of the offerings herein Invited. Tlie undersigned, as trustee, will send no. tlce forthwith of such acceptances to all bondholders, whoso offerings have been ac cepted, and tho bonds so accepted will thereon become payable pursuant to the ac ceptance, thereof, at the said offtro of the undersigned on April 1, 1020. and should be accompanied by appropriate federal Income tax certificates In respect of the accrued Interest. Dated at New York, this 1st day of March. 1020 IIANKKRK' TftUHT CO.. TIltSTKK Dy II. P. Wilson. Jr.. Vice President. : -A 1 h 1 'OUR banking connection means much to your qucceaa. Doing business with an institution whose policy has- always been "Service to the Banking Public" means a step in the right direction. Individuals, Firms and Corpora tions will find us prepared to handle any of teir banking problems. We Solicit Your Business Third National Bank In the Cenfer of Thlno ' Opposite Broad Street Station SPECIAL OFFERING Duo to the settling of an estate wc aire ablo to offer 500 SHARES GREAT NORTHERN PAPER COMPANY Capital Stock Assets $8,000,000 $32,000,000 TIMBER LANDS. THE GREAT NORTHERN PAPER COMPANY have approximately one million acres of Timber Land, all of whlclB arc in the state ot Maine, xnis assures me corporation 01 a pui petual supply of Pulp Wood, at the present rate or production. Prtsl cm prouueuon is in excess ui uigiii mmuicu wus pur uay, , WATER POWER. Developed and in uso 57,000 horsopowcr. Thtw undeveloped horsepower in excess of tnis amount which might developed when needed ana ranrKotaDic. STORAGE WATERS. THE GREAT NORTHERN PAPER COMPANY have developed their storage waters to a capacity of one and onc-hifl year's total production of logs. Tho saving by this largo storagl capacity is enormous". Price and Circular on request. L. SHERMAN ADAMS Dealers in High-Grado Investment Securities Members Boston Stock Exchange 70 STATE STREET i 03 .0 ; 0h .2S it'" 11 I J 111 l'i 0.1 01 .u ot .20 .n,'1 OT 12 fl 111 o:i '.'O 03 ot 011 ..I iS ' 10 12 01 Ot .Oil nx 05 .OH 02 on .30 .1(1 O.I 14 0.T OX O.I O.I O'J 0.1 111 07 SAT 01 a.i IIII'. IIOCKIIII.I, IKON ANT) COAT. CO., tin Clirotniit Htrrrt Ths Annual Merllnc nf I lis stockholder., ct this Compan and an election for a Hoard nf directors 10 serve ror mo ensume year will hA hel't at tho nfflr-H of tulil Company, on Tliiirsdn.7, JUrch 180i, 1010, nt 11 cVclock a. in. II. M. COVINGTON. Secretary. Annnnl Meettnss The New Railroad Law There- has been considerable popular misunderstanding of certain provisions of this law particularly those relative to "guaranteed" operating income "on tho physical valuation of the roads and .this article is intended as a digest, interpreting briefly but comprehensively the salient features of tho law for tho benefit of the casual reader. ' A copy of this exposition of the Railroad Law will bo sent to any one interested on request for L-GOO. HUGHES & DIER ' Members 0 Jlrosd Street f 1'hlUdrlphlo Block Kicbanre. Vlttsburili Work r.irhanre - nicaro noara or iroue 1435 Walnut Street I'hlladrlphltt New York onncE DIP The United Ga Improvement I Company N W. ror nroail and Arch ts I Philadelphia. March 3 1020 i Tk. Annual Xfl!nir nt Ih. UIa1,i..ij ' of Tha United dan Irnprovemont Company will bn held tit ths office of the Company. Northwest Corner of Ilroad nnd Arch streets. I'hllsilelphla, oil Monday, May 3. 1010, at 12 o'dork noon, for the purposes of clectlns a l'roliiont and six Directors, to sero for the ensutna- year; of considering- and acting upon tho subject of a proposed Increase In the authorized capital stock of the Company from 1.221. 460 shares of the par aluo ot J.'O each to 1,521.450 shares of the par alii3 of 150 each, all ot which Increase sin II be Seven Per Cent Cumulatlvo Pre. furred Htock. also entitled lo nreferenrn ,.n liquidation to tho par value thereof nnd accrued unpaid dividends, to b redeemable In whole or In oart at S5i Der nhnp,, .... arcrurd unpaid dividends, to have tho same voting rights as the Common Stock, and to haH such other rlKhts, privileges, prefer, ences and limitations hh may be determined at auld meeting: of authorlslnx tho Issue of 122,000 shares of said Preferred Stok lo be Isiutd nnd disposed ot by tho Board of Directors ut such tlroa or times and udoii such terms and conditions as said Board shall appro, provided, however, that said (.hares shall first be offered to the stock holders pro rata for subscription at par the balance of the author! led shares of said' Preferred Stock to be Issued from lime to time, but only when and as authortted at subsequent stockholders' meeting, and of transactliiR such other business as may prOD erlv rome beforo the meeting, r The stock transfer books will be closed from 3 p. m April Jl. until 0 a. m.. Way 4, 1020 ' J,)r Ily order of the Hoard of Directors. O. W. CtimtAN, Hecrelsr. 1817 1920 Fire Association OF PHILADELPHIA N. W. Cor. 4th & Walnut hua given its policy holders solid Indemnity for moro than one hundred ywun and has nover been no strong financially ae now. Have you a policy In this old and reliable Company? CHARTER PERPETUAL Hecker & Co. Bankers and Brokers Members of Philadelphia and Ntw York Block denature N. B. CPU. QUI AND CHESTNPT STS. Dividends rroposaliiM PltdfOHALh ron THIS fMINSTIlUTTioN of a tunnM to small arms ammunition? general storehouses, etr Office of tho officer in iii.i.. , v f ."ii.iiuviiuii, . rniiaioril Ar. penal. Philadelphia. I'a. Sealed Pronoisis win pa received nero until i p. ui.. March IS 1020, and then opened. for tha construction of tunnel as alated bov. Plans and Dppclflratloni furnished on application. Hugh J. Inirosden. Major, Q. Jf, V. officer In PhlUdelpbU, V ' , AMICHICAN CAIt & rOUNDHY COJIPANV New York, March il. 1D"0 COMMON CAPITAL STOCK Dividend No. 70 A quarterly dlWdend of three nrr rent (3) on tho common stock of this company has this day been declared, pajable 1hiir day. April 1. 1030. to stockholdi?,! , nf rVcord atthe close of business Monday, ittirch 16, Checks will be ins I led by th Ounrsnty Trust Company of New York. Jl c Wick Secretary. B. 8. DBLANO. ' Treasurer. AMKUICAN CAll & VflUNnnV COMPANY New York. March 3 102ii PllEKEIinBD CAPITA!. STOCK . ,.. , Dividend No. V 9!v1S1'' "' on" RDi three-nuarters nee rent 14) on tho preferred slock of thli compsny haj this day been declared 21 ablo Thiirsday. April lT 10;o to ptnckKolnSf. MarcTfJ. "lOSO.'" "' l,l""" Monday! ' Checks' will 'bo mailed bv the Guaranty Trust Coinpuny of New York, M c wick Secretary. a. a! DBLANO, ' Tree surer THK KI.I'.CTKiroMHT(m,(lI5 ' H.mTiiiY AllKlirnyUriiup J arid Ifltl Street Tho Directors 1iivpP i'le'el'rf1l a 'nuVru'rly dlvdend of two BO-IOO dollars i.B0 por share fromths net carnlnrp of the Com. t 'fas'' : .'"l"'Imi I'Trirrrta HtorkM If You Don't Know How to Study Stocks Get "How to Select Se curities." a new booklet which fills a long-felt want. It not only points out the main points to consider in studying an Industrial, OU or Mining Stock, but Analyzes Nine Actual Companies whose securities seem poised for action in the market RIGHT NOW. No business man interested in the market should fail to secure a free c6py without delay. Edition limited. Call phone write. Ask for No. T. U.-831 JONES & BAKER SECURITIES WIdencrBldg:., PhiladeJpU FhnsiBill. WW-WW65 Kijitiui, Rati 2290 Dlriti PriMlt Wlrif Offices In 8 Principal Cities in. Iluh Ptyabls April I IpioT 'to iioefcholds,. of I 1 ifftcer In reeord t the closa of business i ot? irarrh 1ft 1 L- t . h . ---. -"- AfCni S9. l-hsek. will, V. tnlllVd. "? 'Ml I JTu. SiimViS int III I ,N MHslBBBVkL'V. .. LeZzi f a' . '. ''. ivtt. tkkfii iia. & iflAit ...ityr-.'t.. &,':!,.. v., 1LJ...I..., rm f IT'-ML-fJ A' . '. ViJUSlHBrjlllllllllllllllllL'i
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