'fir J H t .V 'r V' , I r. 'M i A. '.'' ri u. . ii s f . tiP "-.- r ; HVBflrirS" TlXBBiO; gRTOADELPHIAV. TtmSAT, MAROH 16, 1920 17 Closer Prices Closer Terms Closer Collecting That is the trend of sound trade. x. That i the consensus of opinion expressed in letters we recently received from hundreds of leading manufacturers and wholesalers in every part of the country. Men with the vision to foresee any. reactive tendencies of business usually have the foro sight to safeguard their resources against such reaction.' They welcome the complete Protection and Service afforded by the American Company's Credit Insurance. It will pay Manufacturers and Jobbers to end for the fuU particulars of theAmerican's Ualunsfted Policy, iCAMtRfCAII CREDTMMDEIINnY GCt ofNEWYOtK E.M. TREAT, wwwbwr tSSB OCSaiaajSV ttSSSf tftflOU TNS VtoUMfTKD POUCV W. J. Morphy, Manager J. F. McFadden, Gen. Agt Mutual Life of N. Y. Bldg. Phone Filbert 6503 Philadelphia, Pa. New York Curb INDC8TKIAM Ulh Armour-Lea ltt 10 Acma Coal ........ ..t.. 214 2 . Aetna Explosives .'. H 814 NEW YORK CURB, (Continued) o e IS 18 8, f 0 Vnltt'd Easttrn ' Vl.tAV . .. ............ V. West End O l . . wnuo taps .......... Y,T11k.. . . . . - - , . 1 . miui ,.,..."------ . ......... t-rf , f. '.l'.'.'..'. is' H ID'4 lOTii Amer Safety JUior 10 nrmsn-Anur uneisicai .. H llrltlsh-Amer Tob rts .... 7 Urltlsh-Amar Tob coup .. In't General Asphalt 1T0H Hntl Sir o Indian Packlna- 1M4 North .Amer Paper OH Perfection Tire i Pressman .. . . A jiepuouo Tire nuDber Kubmarlne Doat Hnreets Co .... ....... lUHUSia i'ND) ....... IT H Rtm United ltetalt unitea rroni I 8TANDAIID OILS Ohio Oil H Allf MwA .1 TIama ttu m ytY " c'ui lUtm din ona Ull fi J 887 865 BUndOUNT 460 473 4 4 hip nil ill Candr .... 14)4 It Sharing- .... SU ,.83 .178 in INDEPENDENT OILS 3 a 3& Allied Oil Alien ....... Amal Tlovaltv 19 Arkansas Nat Oas 82, Hoone Oil , PostonWyomlnc IV Cftrlh Hvndlrflt B9t 1 ri,i's -jj.ti .'... " V." " " -: I ITOKrf.n A rv Dominion . . . Klk ll.nln p.. Knalneern Potrot r.riei uii KVfleral nil niiiuand ...::..;...:..:: n wienrocK uu Homo Oil ., Hruston Oil 120 117 Hudson Oil 4 H Tnvln.IKlA 41A A.lz lndlahoma lief 84 8 Lance Creek I.lvlnirston , . Hi Jm 4U ail Melex ZU 4 Midwest lief '!!:" 174 172 North Amer Oil 4 8i Omar Oil , 4' 44 niiMUK Vll ... Phllllna P.t .. Prod b Iteflners io dh p IB., 18J4 Pet 10W 10U Petrol j 14 1 ,- 1H IS II ?.... 4.. a si .11 T.rlnrton . . .. ' - BONDS Allied PaekerD "! Amer Tel Of,-'32. i gj Oeneral Blectrlo 0s JJJ Texas Co 7a ' 8 7TJ 09 77 loo 00 LIVE8TOCK QUOTATIONS Chicago. Maroh 18. ItOOS Receipts. 85.000 head. Steady. Bulk. $U.1018.70 trti. $18,881 heaw. I18.8sei4.00i medium. tt4.E0ei8.80l llKht tlB.80ei8.88l light llahta. H4.33O18.80l heavy packln aow, smooth, tl2.00ei8.jni paoklwf ow. rourt. U2O12.C0! plrs. ,$13014.50. CATTI.& Becelpts. 18.000 head. Weak. Beef atrs. medium anheavy. choirs and" nm. iia.ouwio.iui '" - ftwf SJJ rows 17012.2ft: cannera and cutters, $4.1 ?n S7i 'vial calves. 118.38017.38! feed; 1 steers. $8.7BW11.85: stocker ateera. $7.1 ViV'ixtMta an. onmmon. tt.7BOll.50: fiaht. b4 .".. K-.HiMSP'WAiVsRR Wia.ll)! puwn;r -" ""Jl'V. ,liJ 1 ler 50 8IIEEP neeelnts. 11.000 head. Steady. Iambs. $17010.38: culls and ocmrrten, $14 eTlS.78: ewes... medium, srood and chofce. $114fl4.25! culls and common. $8010.75. Plttaburah. March 10. JJOOS necelptii 1000 h4. Lower: Heavies, $15015,50! h?avy 7orker. '$19. JOOin.78! ilht yorkers. $lld.3S: nlas. $18.20018.78. 8IIEBP AND LAMIIS Receipts. 100 head. Steady. Top sheep. $1! top lambs. t20. CAtVEB JlecelpU. 125 head. Steady. Top, $20.00. 4 IlMl ttrwlr Klckard Texas . . Hyan Oil "alt Creek Prod Kapulpa llnf . , Sequoyah Oil , . Skelly Oil Slmm Pt Houthern fltatea 4'4 H 4T4 o n n i nit' U7l 1 & Unshackle Your Dollars The hoarded dollar is 4i menace; it neither spins nor weaves. The earning dollar, invested in well-established manufacturing companies, creates industry, which produces several times dividend requirements. We have a carefully selected list of PREFERRED STOCKS YIELDING 8 which we can recommend to the most conservative investor. Ash for Booklet P.P.L.SS7 .Hollister,White & Go. INCO0ATf D North American Building PHI LADELPHIA BOSTON NEW YORK SPRINQFIUr.D PltOVIDENCi: r Spencer'Pet, ..: 214 Superior ,... ja Texas runner lil Texas Co w 1 kb Tropical Oil 21 United Texaa i Vulcan Oil .., , iu Wlitta Oil 3o8 SnNTNO AUs-Br Col 1U Atlanta 3',4 Hclchcr Dlvldw 7 11 Belcher Divide Ext 14 nig Ledco J, Hooth R Hoston A Mont 72 Calcd Mln 36 Candelarla M "4 Cons Vlnrlnla 4 Crescent MacNamara. .... W Divide Ext ti Kl Salvador 8 Eureka Croesus 14 Eureka Kolly .( .IK OoM Cons 14 rinM Develp 8 iolil Mercer 8 'Sold Hllver Pick 20 'old Zone 2A rent Mend 2 'tIii Mining 4,Tj mbo Extension 12 nox Divide 11 nulslana Co A 'cNanura K "ortez Silver 85 Honduras Syn 18M Motherlods SO National Tin 4 Ophlr Sliver U Rex Cons 10 Rochester Mines ........ 16 Ropo Group A Silver Klnc iV S Silver Iad fy Success Mining A Tonopali Belmont -U Tonnpnh Cash Boy RV4 Tono Divide 2H Tono-Jlm n 23 Tonopah Midway 10 Tonopah Mln 2'.i Tonopah Montana 14 Tonopah Rescue Eula .... 28 U S Cont 7 LOCAL MINING 8TOCK3 TONOPAH STOCKS nid Cash Doy 08 Jim .Butler 33 MacNamara ., Midway Mlspah Extension 10 Montana 10 North Star 25 Rescue Eula 23. Tonopah Extension 3l West End . l'4 West Tonopah 06 DIVIDE STOCKB Allied Dlvld 02 Alto Divide 04 Belcher 10 Ben ltur . Q3,, Rrouah Divide t H Divide Extension 60 Dlvldo Syndicate 02 nivMn Can . . A3 Dividend 1 East Divide 03 Hashrouck Divide 03 High. Divide 02 Revert Divide 10 Reno Divide 02 Rosetta 08 Hllver King 05., Tonopah Dlvldo 1 '4 Tonopah Hashrouck 10 Victory Dlvldo 07 Verde Divide 00 Zone 25 OOLDFIELD STOCKS Atlanta 02 Blue Dull 02 Booth 03 COD 02 Combination Fraction 03 CrackerJack 00 Dlamondfleld D B 01 Daisy 03 Florence 28 Ooldfleld Cons 18 Ocldfletd Merger 03 Oold Development 08 Qreat Bend ".02 Jurabo Extension 11 Kewanas. 03 Lono Star 08 Oro 01 Red Hills 03 Silver Pick 23 Spearhead ,. ,04 MISCELLANEOUS Amparo. IK Arizona. United 18 Eden , U Mother'Loda 48 Nevada Hill 02 Nevada Rand 20 Nevada Wonder 17 Promontarlo ...... Id Tecopa Mlnlnjf .10 White Caps 13 Ask .10 .17 .21 .10 .10 .27 2K 3 .08 :o3 .on .12 . .115 .04 .03 .10 .03 .05 .04 .20 .04 .03 .09 .12 .27 .04 .03 ,00 .03. .05' .OH .02 .03 .in' .05 .10 .03 .13 .03. .10 .03 .05 .27 .06 1T4 .52 .04 .25 2 .13 Gold Coin Withdrawn for Export New Tork, March 16. Gfold coin to tho amount of $6,650,000 has been' with drawn from tho nubtreaaury for nhlp ment to Argentina. Tlila Is In addition to the $1,700,000 engaged Monday, making- a total of $6,350,000 so far taken for BhTpmont by Wednesday's steamer. Ad ditional engagements are expected. Ncv Issue $3,500,000 Oklahoma Gas & Electric Company V One-Year 7 Bond Secured Gold Notes Dated March 1, 1920 Due March 1, 1921 Coupon Notes In denominations of J 100, $500 and $1,000. Callable as a whole or In part at tho option of the Company upon SO day' published notice at any time up to and Including September 1, 1020, at 100,i and accrued interest, and thereafter at par and accrued Intercut. The Company will agree to pay Interest without deduction for any Federal Income Tax not in excess of two per cent., which it may lawfully pay at the source. The following information is summarized from a letter signed by J. J. O'Brien, Esq., Vice-President of the Company: Purpose: The proceeds from the sale of these notes1 together with cash in the treasury will retire the $3650,000 One-year 7 Gold Notes due April 1, 1920. Business : The Company owns and operates modern and efficient electric plants and distributes electricity and natural gas, serving many important cities in Oklahoma, including Oklahoma City, Mus kogee, Sapulpa, El Reno, Enid, Drumright, and other towns. Flour and grist mills constitute the principal industries of the state, although the producing and refining of petroleum is rap idly increasing in importance. , Security : These Notes will be a direct obligation of the Company secured by a Trust Agreement dated as of March 1 , 1 920, in which the Company will aeree to pledge with the Trustee on or be fore June 1, 1920, $4,375,000 General Mortgage 6 Bonds of the Company due March 1, 1921, as collateral. ) Earnings: For the year ended January 31, 1920, net earnings, after de ducting annual prior charges, exceeded three and one-half times annual interest requirements on this issue of Notes. Net earnings equal to over two times the annual charges on total funcled debt, including interest on these Notes. Equity: These Notes are- followed by $2,269,300 Preferred 7 Cu mulative Stock paying 7 per annum and $4,500,000 Com mon Stock which has paid dividends regularly since 1909 of 5 and upwards. XTMeiral matter i conneotion with the Issue of theao notes will be P"J upon by Messrs Cummins. Roemer. flrnn MoKnna of Chicago, and Messrs, Wlnthrop & Btlmion of New York. The accounts of the Company have been aud. Ited annually by Messrs. Haslclns & Sells, Certified Public Accountants, , t. The above notes are offered when, at and if issued and received by at at , Price 99 and interest, to yield over 7 .Taaporary receipts of Central Union Trust Company. New Tork, will be Issued exchangeable for denntUve Notes when. as and If received from tho Company. "" Send for circular Bonbright & Company 437 Chestnut Street Philadelphia i This Information and these ntattstlcs, while not guaranteed, have been obtained from sources we believe to be accurate. H. M. Byllesby & Co. , Incorporated ' 111 Broadway, New York u";: - h , VW:WWb. iwVva '., (" :. V $2,000,000 Habirshaw Electric Cable Company 7 15-Year Sinking Fund Convertible Gold Debenture Bonds, Series "A" 'DaUd March 1, 1920 Duo March 1, 1935 . Interest Payable March 1 and September 1 In New York Authorized $3,000,000 To be presently iMued $2,000,000 Coupon Bonils in $1,000 and i500 denominations, registerable as to principal only. Subject to call ns a whole or in part at 110 and Interest to March I, 1925, thereafter to March I. 1930, at J07J4 nd Interest; thereafter to March I, 1935, at 105 and interest. 8 Convertible bto'Common Stock without par value at the rate of $100 face value of Debentures for four shares of Common Stofk to March 1, 1925; for three shares of Common Stock thereafter to March 1', 1930; for two shares of Common Stock thereafter to maturity. GUARANTY TRUST COMPANY OF NEW YORK, TRUSTEE From a letter by J. Nelson Shreve, Esq., President of the Company, ve summarize as follows: BUSINESS: The constituent companies have been engaged in the manufac ture and sale of insulated wires and cables for many years. Leading customers include the Western Electric Co.,. American Telephone and Telegraph Co., New York Edison Company and other large users of electric power. PURPOSE OF ISSUE: To retire $177,000 par value bonds of Habirshaw Electric Cable Co., Inc., and to provide additional working capital, which, due to large growth of business since ending of war, can be utilized to great advantage. PROPERTY: The constituent companies own three large, modern plants advantageously located at Yonkers, N. Y.; Bridgeport, Conn., and Nepperhan, N. Y., having present yearly capacity of -over $15,000,000 gross business. SECURITY: No mortgage may be placed upon present property while any of these Debentures are outstanding, unless ratably securing this issue. Com bined net current assets must always be maintained equal to I 1 5 of these and other Debentures which may be issued. The Company plans to acquire direct title to business and assets of the constituent companies. EARNINGS: For the past four years combined earnings applicable to interest charges on this issue averaged $47.5,728 per annum. Foryear ending Decem ber 31, 1920, such earnings are estimated at $1,300,000, equivalent to over nine times interest requirements on the $2,000,000 Debentures, leaving a balance, after interest, sinking fund, depreciation, preferred dividends and taxes, estimated at $4.70 per share on the 135,000 shares Common Stock of no par value, proposed to be issued. , SINKING FUND: A fixed annual Sinking Fund of 3 of the largest amount ,;1iC of Debentures at any time issued will retire at least $60,000 bonds per annum '-" and an additional sinking fund of 10 of net earnings after charges is. ex 'tf pected to retire a substantial additional amount annually. Whe as and if issued and received by us, temporary bonds will be. delivered on or about March 25th exchangeable for permanent engraved bonds when ready. Application will be made to list the Commbn Stock upon the New York Stock Exchange X i. ye otter these Bonded subject to prior Sale, at , 98 and Accrued Interest, to. Yield 7.20 i Graham. Parsons & Co. Potter Brothers & Co. 435 Chestnut Street, 5 Nassau Street, Philadelphia New York This Information and these statistic, are not guaranteed, but have been obtained from sources we believe to be occumta. : iUIIIIIIIIIIIIMIIIIIIIIIlillllllllllllllllllllllllMIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIHIIIIIIIIIIIJ: Facilities The scope and character of the facilities offered by THE FOURTH STREET NA TIONAL BANK OF PHILA DELPHIA are unexcelled. NUMEROUS DIRECT CONNECTIONS of long stand ing enable it to place at the dis posal of its clients the service of the leading banks and bankers of the world. Up-to-date CREDIT IN FORMATION regarding pres ent or prospective customers abroad may be obtained free of charge and with the least pos sible delay. IMPORTERS AND EX PORTERS are invited to confer with us regarding their problems. T ' iiStjrll.t," ... ' ' &&"& ' S &- 131-145 South Fourth Street Capital, Surplus and Profits ovef $10,000,000 iiiiiiiiiiiiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiin,,,,, , ,, nwi Newark I'asa. Rwr. S. 103(1 Jiat, t;naait fable a, iv; Vana. Utilities 5. ISIll . Imu r. i.t. a i. . 1DS4 Kmplrw (is i rurl As. IB2S DuQOtsn Li, Ss. IMS HENRY D. I0ENNINQ GO. ST8CK KXCHANOB BCnVDrNO ptmt IXrate Trta. to New Yfk Insurance Company of North America Rights Bought, Sold, Quoted Townscnd Whelenr-fc Ca "--' ----- Htotb "- ' fl'.. " 1" r :: . . ::A PfiNfe- . , " liV. 1. 'V " fj i ','. "'STa.. -" - - . . "".... ..ijusjA,,.:. . k-iin i", . jLiai, .. i". Republic of France Progress In the recovery of France from th World War has already given fresh evidence of the characteristic vitality of the French people. We are receiving subscriptions for account of the French Government to The New French Internal 5 Loan of 1920 Redeemable within CO years by semi annual drawings beginning September 16th. 1920, at 150, which is equivalent to 1500 franca for each 1000-franc bond Subscriptions are payable In dollars at the rate of exchange fixed each day by the French Financial Agency in the United States, which is based on the closing rate of exchange for the previous day. This price will be announced daily in these advertisements. Price Today $73.80 per 1000 Franc Bond At the normal rate of exchange the cost of thla bond to the American Investor would be $193 Our Interim receipts calllnc for temporary bonds of the French Government will be issued ucrainat payment' In full in dollars. BROWN BROTHERS & CO. Fourth and Chestnut Streets PHILADELPHIA MORTGAGE INSURANCE A 11000 MOn-TOAdR COBT 10 SS PKIt MO Uorlcas. cleared In IB yars. For toll information call UORTqAqb INSOnANCB nap SfeUff mUH HmiMmi SaM Security Salesman Wasted A corporutlun aulliurliln an lssu. of (lrt morts.se bunds will make u. vsry aavantMu-rciui, rfinlr.it iii. ... Zzzr enctd stock and lrend salesman. ciJ-hi. ialna and placln tb lssu. ' advantairtouM contra, t vncva aiocj of manali AsMreiw MKMiwibiU(y' m in.' i - . . - - r i IK. A . i f VJ JH J ,1 ft d i isaMiBBTMaaiiMTSHBvann-ini saiaiBaaMisi w. . lrTi
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