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EVENING PUBIilO LEI)(&K--iPHIJDADELPHlA, MONDAY, MABOH 22,
1920
,!
,1.5.
- r.
130,000 SHARES .
Alvarado Mining & Milling Company
(of Maine) ' .1
CAPITALIZATION . '
Authorized 1,200,000 Shares ,88Ued 3S0,000 Shares
- Par Value $20.00 Per Share
IS-CT :h" nrbTnnnnSneedlleV excePl M.OOO Flr.t Mortage Bond remaining from
h.' nnZ i"Ueff V0'00' ro,,lrement of whlch w, b ?! on July 1, 1920. Il
fc nJ! .' prefor.rod ,tock' Afr giving effect to the pretent fin.nclng, the Company will
havo net quick aiiett ,n excel, of $2,000,000 for the further enlargement of It. operation..
The Company was organized in Maine in 1910 and is protocoled in the Republic of Mexico. The
SWnn13 one othS world ? reat S1-,ver mines. Production for 1918 and 1919 was in excess of
2,000,000 ounces of silver each year.
The Company maintains a large engineering organization for the investigation of mining enter
prises throughout the world. It will be noted that there are 850,000 shares unissued, which remain
available for the acquirement and development of additional properties.
A.-J. McQuatters, President of the Company, who has successfully developed and operated the
property for the past ten years, will continue to direct its affairs. Mr. McQuatters introduced
modern mining and milling practices in the Parral District of Mexico, and was the pioneer in
northern Mexico in the treatment of ore by the cyanide process.
After a thorough investigation, under the direction of W. Rowland Cox, mining engineer, covering a
period of six months, the Mexican International Corporation has taken a substantial stock interest
in the Company and is represented on the Company's Board of Directors.
The following arc excerpts from a summary fcj) President A. . McQuatters from Itis letter to the bankers:
Properties nnd Location: Tho Company
owns four groups of mines, namely, The
Presena Group, The Palmllla Group, Las
Cruces-Cabadenn Group, and Las Animas
Mine, which, including mill site, compriso ap
proximately 700 acres, situated imtho District
of Parral, State of Chihuahua, Republic of
Mexico, within five miles of the City of Parral
and 517 miles by rail from El Paso. Texas.
Plants aro of modern steel construction, and
are operated by hydro-electric power purchased
under contract. Further than tho above, the
Company has recently acquired the Tcrrenatcs
Mine, which has a vein extension of 1,000 feet
on the Vcta Colorada ledge and is located
about 2,000 feet from the Company's Presena
Group.
Ore Reserves': The ore reserves estimated
ns of November 21, 1919, by Franklin W.Smith,
a mining engineer, amount to 2,080,000 tons of
positivo ore of an avcrago grade of 9.2 "ounces
silver, nnd 2,692,000 tons bf probable ore
averaging 8.7 ounces silver, a total of 4,078,000
metric tons of an average grade of 8.9 ounces
silver. He considers that there are also ex
cellent possibilities for the development of
additional ore over nnd above that now in
reserve, not alone in tho Prcscnn Mine, but
in other properties of tho Compnny in the
Parral District, particularly the Pnlmilln Mine.
Development on tho lowest level shows that
high-grado oro occurences, similar to those
previously mined above, will likewise form n
part of the tonnage to bo hereafter mined
below. A grade of 12 ounces is expected in
this horizon, with consequent larger profit
from such ore.
" Production: The Alvarado Mining & Mill
ing Compnny began operations in 1911, nnd up
to the first of the current year produced 923,
000 tons of ore, containing approximately 15,
000,000 ounces of silver and 12,500 ounces of
gold.
During 1919 the plant operated the equiv
alent of 338 dnys nnd milled 176,095 metric
tons of ore. Thi3 yielded 2,038,730 ounces of
silver nnd 1,591, ounces of gold, equivalent to n
yield per ton of 11.6 ounces of silver nnd 0.01
ounces gold. Oro treated in January, 1920,
was 17,168 tons, nnd in February in excess of
18,000 tons. The construction program, now
under way, calls for an increase in tho capacity
of tho plant to 1,200 tons per day, or 36,000 tons
per month.
Earnings: Tho net earnings of tho prop
erties, before dcplotion and depreciation and
interest on the bond3 (all of which are shortly
to bo retired), and after taxes, were in 1918,
$767,558, and in 1919 npproximately $1,160,000)
It is estimated that the net earnings for 1920
will be in excess of $1,250,000 based upon silver
at $l.ty) per ounce.
Examinations: Titles to the property have
been npproved by Curtis, Mnllet-Prevost &
Colt nnd the legality of the issue of new stock
has been npproved for the Mcxicnn Interna
tional Corporation by tho above mentioned
firm and also by White & Case, and for the
undersigned by. Dnvics, Auerbnch & Cornell.
Audits by Price, Wnterhouso & Compnny. Re
ports on ore reserves, metallurgy nnd equip
ment by tho following engineers; Franklin W.
Smith, W. Rowland Cox, E. M. Hamilton and
Dr. J. E. Clennell.
A careful review of the engineering nnd
operating factors has been made by Rogers,
Mayer & Ball, who have been retained ns con
sulting engineers, and they concur in the pro
posed program for the enlargement of tho
plant. They .also estimate future operating
costs on the enlarged scale of operations at
$5.10 a ton. Thus on the ore reserves estimated
by Mr. Smith, the profit after paying Mexican
taxes, would bo $3.31 .per ton, taking silver at
$1.25 per ounce.
It is expected that application will be made to list this stock on the New York Stock Exchange.
'Temporary certificates will be deliverable pending engraving of permanent stock certificates.
Price $22.50 Per Share
Full descriptive circular will be jeil upon request. i
Enaut!)jadjob & luifjne
120 BROADWAY
NEW YORK
The Information contalnnl In this udirrllstment In nnl sjuurnnlrr'l, '"' '" I'fHnvrd In ! correct.
PEACE TREATY
DEFEATIGNORED
Large Foreign Orders Reported
Being Placed for the
Rdd Metal
Buying Future Income
Making.an investment is, in effect, buying a future income as the two in
dispensable features of a sound investment are provision for the return of
the investor's funds in full at some definite date, and thcpayment of a fixed
annual income for the use of his money.
Honda provide the most convenient; method of buying a future income as
they not only embody these two features but can be selected to return one's
capital when wanted, are available in various denominations, arc acceptable
as security for loans and are readily marketable. Bonds, being marketable,
must fluctuate in price according to economic and general conditions, but
these fluctuations do not concern investors who buy for income with safe
return of principal.
These price clwnges, furthermore, act to adjust the income on old, outstand
ing bonds, as well as new issues, and so permit investors to take advantage
of the fact that, just as the consumer must pay more for commodities today,
so Governmejmicipalities, Railroads and Corporations must pay cor-,
respondingly largfilsfexnual sums (higher rates of interest) for money bor
rowed. Desirable investment bonds, both seasoned and new issues, may be purchased
today to yield from 4J to over 8. The same bonds a few years ago
sold to yield from 34 to less than fi. Money invested today buys an
inepme which largely offsets the increased cost of living, and assures to the
investor a continuance of this high income after the prices of commodities
have declined to nearer a normal level.
If you will consult us, we may be able to suggest how you may safely in
crease your income, and shall be glad to submit to you a carefully selected
list of old and new investment bond issues.
We tuff est you atk for List i'-lll k
Harris, Forbes & Company
Plna Street, Corner William, New York
Widenor Building, Philadelphia
Harris, Potbei ft Company
Inoorporatsi
Boston
Harris Truat and Savings Bank
UondDepirtmtnt
Chicago
How To
Trade
A free booklet
telling deposit re
quirements, t c.
THOUSANDS of men
to whom the stock market
has been strange ground
have found this guide very
valuable. Gives commis
sion rates, deposit require
ments and how to give
your broker instructions
in person or by wire or
mail. "It's no use waiting
for your ship to come in
unless you have sent one
out." Get your copy of
this book today.
Ask for No. T. U.-817
JONES & BAKER
SECURITIES
WIdener Bid., Philadelphia
Phones Bell, Walnut 6065
Keystone, Race 2290
Direct Private Wires
Offices In 8 Principal Cities
The rejection of tlm pence treaty lind
been discounted by n majority in the
flnnncial district for some time punt nnd
the news created uo surprise on Satur
day Inst, nor had 'it any perceptible
effect on prices of stocks.'
It is equally true that the German
situation is being Ignored at present,
but u prominent banker remarked thnt
tho conditions In Ocrmnny will sopn
have their effect here. Ho said he
understood that tho activity In copper
for the Inst few days was In anticipa
tion ,of large orders from Europe, par
ticularly from Germany,, nnd that ar
rangements had been made by some of
the large banks nssocinted with the cop
per industry In America to finance such
purchases ns might be mndc.
It Is not possible, with internal con
ditions In Gcrmnny ns they arc, he said,
thnt these negotiations will be carried
out at present. Of course, the roppcr
needs of Frnucc and other Kuropcau
countries must be satisfied and these
are huge.
In some quarters it is expected that
the Supreme Court mny hnud down n
decision In the case of the coal roads
today, but if such a belief had been gen
ernl it was argued thnt the stocks most
interested would have shown some pre
vious indication by nn advance or de
cline, according to the popular senti
ment. Tlioso who spoke' of a possible de
cision were inclined to believe thnt In
line with recent notable decisions it
would bo favorable, but they hoped it
would not bo proclaimed publicly till
every one would be certain it was cor
rect. The local representative of n large
financial concern said that the demnnd
for bonds still continues very weak.
There will be boiiio uttractivc issues put
out this week, he ald, nnd a large
number of new issues have been de
cided upon, but are being held bnck for
the signs of a henvler deniund thnn np
pears at present.
Of course, ho said, the wonderful suc
cess attending the issue of tho Texas
Co. bonds last week does not establish
anything, ns it is only once in n grent
whllo thnt a bond of thnt class, with
such earnings nnd such unquestionable
and practically unlimited security back
of It, is ofTcred to the public.
He said that every one that sub
scribed to the syndicate is going to be.
disappointed' with the small percentage
m iiik uiioiinenc inev win ifrrivi
A banker said that the country banks
are not investing their surpluses in
bonds ns formerly, and he believes they
uru iteming more in acceptances and
other good short-time paper.
Below are opinion of Innrlintr linnn.
ciers ou recent events which have n
bearing on financial nnd economic con
ditions. William A. Law. president First
National Il.inlt Production in. home of
tho ngrieulturnl states Is seriously
threatened by the withdrawal .of farm
hands to H'ciiro the larger wages offered
at centers of industrial activity. These
conditions are difficult to contend with
for farm production must be main
tained and the farmers, as n producing
class, nre not able to compete effectively
for the Inadequate labor supply now in
sight. Kvcry labor-saving Implement
available for farm work will be utilized
to replace this decreased man -power,
but It Is not nt all clear how the short
age will be mndc good. These condl
ditlous explain tho antagonism between
the farmers nnd the labor unions, whose
exactions have resulted in u rndlcnl cur
tailment of working hours. The United
States excels nil nations In quantity
production, but it is not certain that
this can be maintained if the working
day is to be further shortened ns It
hns been since the world war began.
Corn I&cliange National Hank. Phila
delphia It is true that everything that
goes up must conic dowu, but the great
war established certain unprecedented
conditions which to some extent rentier
unreliable the old, hard and fast rule
of action and reaction.
We recall even before the war influ
ence mnde itself felt In our domestic
business thnt the release of great re- i
serves under the new federal banking i
system had an unusual efTect on the
bond market; that, wherens bonds tin- !
tier normal conditions could be expected
to decline in price Instead tliey utl-
vnnced for a time because of the tre
mendous Increase In our money supply '
ll can also be stated that tlie sunn-
Mexico, Another factor contributing
to high crude oil prices is the Increasing
distance of new oil fields from refining
and consuming centers. New fields In
volve tho necessity of building new pipe
lines and transporting much of tho oil
by tank cars. The depth of drilling is
also increasing. It is now common to
drill 4000 feet or more in order to get
oil, the expense of which is n great aeoi
more than the shallow drilling of several
years ago. Pennsylvania grade oil Tins
Increased 850 per cent In price since
101C; Kansas-Oklahoma 770 per cent,
and Gulf Coast R40 per cent. Trices
In 101(5, however, were abnormally low,
due to war conditions.
Iloclicr & Co. With a more abun
dant supply of money, the market hns
started to respond In a more vigorous
manner to the recent favorable con
structive attitude toward big business.
While there is a great deal of en
couragement In what has been done for
tho rails nnd trusts, It remains to be
seen how the new law will work out in
the case of tho former nnd whether
Congress is going to try to impose nn
nddltlonnl tax on profits to offset the
court's fnvornblc action. The progress
of the crops and presidential campaign
will play Important parts In markets,
furnishing many excellent opportunities
for safe nffu" profitable trading.
Commodity Markets
COTTON MARKET
New York. March 22. The
cotton
decline of
market onened steady at a
15 nolnta to an advance of S points,
While there was a somewhat reaction
ary feellnff apparent at the start, offer
ings wero llpjit and the development of
a trade nnd a southern demand soon
advanced prices. May rose to ,17.95c and
October to 32.25c, or a net gain of 8 to
14 points, respectively. Wall street
traded both ways.
Liverpool was a seller of the new crops
and reported Its own weakness ns due to
local and hedge selling ami an unfavor
able view of the German situation.
The receipts at tho ports for tho day
nre estimated at 16,000 bales, against
14,312 bales a week ago nnd 10,266 bales
a year aco.
Hat todays
March . . .
Mny
July
October .
December
clo
4u. as
37.811
3.'.. 10
32.11
31,3.1
January 30 87
open
40.41
37. 7.1
3.1 00
32.10
31.27
30 01
11:00
h. m.
38.05
3r,,4o
32.85
GRAIN MARKET
Chicago, March 22. Sharp gains were
made In the corn market this morning.
Influenced by a scarcity of cars and
small receipts. Offerings were light.
Brokers wero timid about taking chances
In tho selling side. Receipts were 120
May opened nt $1.05',, to $1.56 VS
against $1,56 at the end fcfaturday. July
was quoted at $1.50 to $1.5091 at the
outset, compared with $1.48. Satur
day's last price. September opened at
$1.46. against $1.11, Saturday's final
quotation.
Oats were firmer, with commission
houses on the buying side. Offerings
were small. K leading local elevator
Interest and tin eastern wlro concern
sold on the rise. Receipts were 51 cam.
May opened at 8G4c to 87c, against
88 c at the end Saturday. July started
at 79c to 79 He. against 79c nt the close
Saturday. September started unchanged
at 70c
The receipts of wheat here today were
14 cars, at Minneapolis 458 cars, nt
Duluth 13 cars and at Winnipeg 193
cars.
Corn (new delivery) 8t.
Opn HlKh Low 12.30 cIofo
m. i .-.ri.. i.r.Tft i.iisi. i.rmi i.s.m
....w - ---- ---; - . ..T . .n,7 . ,D4.
j o'j j oi i. i.ovvi i -ot
NEW YORK COFFEE MARKET
New York, March'22. Tho cofea mar
ket was only moderately actlvo around
midday with prices keeping within a
range of 2 to 4 points.
There were rumors that tho railroad
strike which has been Interfering with
receipts at Hlo has been settled.
It was reported that Santos 4s had
sold In tho cost and freight market at
21 cents, American credit, and that
somo low-priced Illo coffees were on tho
market.
These features tended to check ag
gressive support In tho local ring and to
Ul
jrlng out selling orders.
May
July ,
September
December .
Bid.
Today's
open
14.40
i4.ns
14. 2
14.33
11:00
r. m.
14. SI
14.70
14.41
14.44
LIVESTOCK QUOTATIONS
Chicago.' March 22. HOOS It limited
receipts, 48,000 head; left over, 4M3 head.
Slow. First sales steady to ISc lower,
$l(1.ir, paid. A vera no cost Haturday, Its. 20,
CATTt.n Hstlmated receipts, 18,000 head,
SHUBP Estimated receipts, 10,000 head,
rittsbtireli. March 22. CATTLE He
eelpts, 10(10 head, jllaher. Steers, J14R
14.r,0; heifers, I1112.ft0; rows, tt.:,0
11. R0. Calves, receipts 1100 head. Lower.
Ton, 121.
ItOOH Itecelnts. ft'OO head. I.ower.
Heavies, t1&.R0ftl5.A3; heavy yorkers,
110.00017.10; llaht yorkers. $10.50010. 75;
pics lir.7501fl.2!.
HHEEP AND LAMBS rtecelpts 1850
"id. Steady. Top sheep, 10; top lambs,
$20,
I.
Prices Firm on Paris Bourse.
Paris, March 22. Prices wero flm , V.
on the Uourso today. Three per cent'
rentes were quoted at 57 francs 35 cert v
times: exennngo on .onaon, u iranen i
v ccnuineH; n tier uciib juiiii,joo itiiow
20 centimes. The dollnr was quoted ftftf
it irancs hyi centimes. ,
DIVIDENDS DECLARED
Federal Oil Co.. dividend of 3 per "nt on
common, payable In common stock Mty 10
to stock of record April 15. '
Huntlng-don Development and On Co.,
quarterly lH per cent on preferred, payable
April 1 to stockholders of record March 22.
United Verde Extension Mlnlnir Co., quar
terly of 50 cents, payable May 1 to stock
of record April S,
Refined Sugars Unchanged
New York, Mnrch 22. Tho local re
fined sugar market remains unchanged
both as to conditions and prices. Sales
of raws on Saturday Included 40,000
bags Cubas for March shipment, at 1 1 Vit
cents, cost and freight, nnd 60,000 bags.
Porto Hlcos for March shipment, at 1 2
cent, c. i. f. both to a New York refiner.
V. S. Gov't Ship Repair Shop
Ftntma Cans Zona
American Industrial
Roofing Tile
American Cement Tile
are made of Portland Ce
ment re-inforced. Each
tile is 26 x 52 inches and
roofs arc laid on steel pur
lins spaced every 4 feet.
Finished roof weighs 15
lbs. per sq. ft. and has a
carrying capacity of 250
lbs. per sq. ft.
Ourengineerswill gladly
solve your problems.
American
LementlileMigta
824 Oliver Building, Pittsburgh
SO Church St. 801 Otis Bldf.
New York Philadelphia
609 Brown-Marx Bldf.
h Birmingham
K w
rT :
PHOTOPLAYS
PHOTOPLAYS
n
ro;
711
July ...
Oats
May . . .
July ...
rork
July ...38.15
Lard
May ...22.02
July ...22.8.1
Hlbs
Mny , .10.10
Julv ...tn.05
Did. tAsked
7'i
705.
RO'i
7
S7
7U
70
!2 20
12 07
in r.o
u.oo
,18.00 "38.15 1S9.00
21.07
nn tn on J ft
22i02 22112
10.40
10.02
10.50
10 112
10.32
19 83
PHOTO Pt AYS
THRU
COMPANY r
ofJmerica
The following theatres obtain their plcturea
through the STANLEY Company of Amcr- '; i
ica, which is a guarantee of early showing 'g
oi inc nncs i. productions, ask lor inc tneatrs
in your locality obtaining pictures through
the Stanley Company of America.
AlUU. 12th, Morris & I'assyunk Ava.
rtlnamDra Mat.Dallyat2: Evgs.0:45A8
DOIIOTHY OIKH In
"MAHY ELLEN CO.MUH) TO TOWN"
AF I PPUPN1V Frankford 4 Allegheny
AlL,CAjnnaU Mat DuUy 2:IT. EvfS.at.
NAZIMOVA In
"STnONQKIl THAN DEATH"
ADI I f 02D & THOMPSON BTS.
ftTULLVJ MATINEE DAILY
I1EHHIK IlArtlHHCALE In
"THE LUCK OK UEIHI.IMNE LAIRD"
ADfArMA CHESTNUT Below 10TH
-rAML'IjL io A M. to 11 :13 P. M.
MAUV MILES MINTER In
"judy iv rool'es' nAiuion"
BALTIMORE lJWu
WILLIAM KARNUM In
"LAST OK THE DUANE-S"
di t irrniDr BROAD STREET AND
DlU,Dlr.L' SUSQUEHANNA AVE.
MARtlUERITK CLARK In
"ALL-OK-A-SUDDEN PEGGY"
BROADWAY Btf!41 irpT m.v
MhcLEAN nnd MAY In
"MARY'S ANKLE"
Liverpool Cotton
I.iirrpiial, March 22. Spot cotton wap
quiet today with prices easier on
the basis of a decline of 11 points for
middling nt 28.6'Jd. The sulca were 4000
bales. The receipts wero 31,000 bales.
Including 30,900 bales American. Fu
tures were quiet In the early dealings.
Spot prices were: American, middling
fair, 33.69d ; good middling, 30.69(1 :
fully middling. 29.C9d ; middling, 28.G9d ;
low middling, 23.39d : good ordinary.
22.19d; ordinary. 21 19d.
BAR SILVER
Dar silver was (incited In l-ondon to
day at 77d. up 4d.
PADITHI 722 MARKET STREET
LAr 1 1 VJL. io a m. to 11:15 p. M.
MA DOB KENNEDY In
"THE HLOOMINQ ANQEL"
OVERBROOM? av,
ERIC STROHEIM In
"BLIND HUSUANDS"
PAT APP 12" MARKET STREET
1 -U-iZ-WH, to A. M. to 11:15 P. II
NAZIMOVA In
"STRONGER THAN DEATH"
PRIMPFCC 1018 MARKET STREBT
1 IXU-tVEUJO S:3o A M to 11:15 P. M.
VIOLA DANA In ,
"THE WILLOW TREE"
RFCiFNT MARKET ST. Below 1TTB
1XCA-,C'1 :4S A. M. to 11 P. M.
MAY ALLItiDV In
"THE WALKOFFS"
I
RIAI TO OERMANTOW.N AVE.
1IU 1U AT TIJLPEHOCKEN ST.
OWEN MOORE (j,"1'" "
"PICADILLY JIM"
RtJRY MARKET ST. BELOW 7TH
MARY SUpUbbv it
'ROUGE AND RICHES"
M- I
t
-V-t MI At Gt. Mapliwood Aves.
LAJLAJINIMLj 1..30. 7 and O P. M.
WILLIAM FARNl'M In
"THE SPOILERS"
German Municipal
Bonds
Bought Sold Quoted
Morton Lachenbruch & Co.
LAND TITLE 111.1)0.. 1'HILA.
TM. Soruce 311. Race fio.'O
New York Clilcaco Drtrolt I'lttsburch
Indiana. Columbus & 1'jintrrn Tr.
Indluruipolla Tmrtlon A Term.
Luke hunrrlor Corporation lot
Krnnwntt Cornier I'orp. Debrn.
rexnn romrmny .i.rr ;ni
.innlr tins & ruci 1 nmnany
J.-MtODITCQ MAIN ST.. MANAYUNK
iLlVlt tfc33 MATI'EE DAILY
VIOLA DANA In
"THE WILLOW TREE
FAIRMOUNT hg&tlis
Dl'STIN KARNl'M li
"THE CORSICAN IIROTHEltS
THEATRE 131 1 Market St.
II A. M. to Mtdnlcht
KARliK WII.I.IA.MH In
TH-i XORTl'NE HUNTER"
FAMILY
CC.TUI CiT THEATI'.E Blow Si
3D in Ol. MATINEE DA
TOM MOORE In
"THE OAT LORD QUEX
rut
MLY
FRANKLIN TI,IRD oiS
STAR CAST In
F.'VERYWOMAN'
Great Northern Broad E
LOUIS nENNISON 'hi
"A MlhfKIT KARL"
.-. lO.'O
n. i.i:i
A. 1014
7, lo.in
7. inn
Mr Pnll. ('. ID-ill
Philadelphia Coninnnr 1t Mtcc A. 1010 ,
. iroritl Hallway A I'mrrr Lnnpniiv fiM, mil
!..!..i in.. 1 1 : ..r... .1.. ' ('nrlionnalp Rnitnny omiinnx Clen. n. n:t:t 1
liiiiirimii iuuuvulvu uuBiui-e uiiiT 1111; I iiervlilrrn Delaware llillroail .TM-a. 11)1.1
armistice. . North Sprlnitllrlil Water Company IW
'I he factors- which tlie old rule t In not Qnmiinl K Phillirra Xr Cn
take Into account are many nnd varied SLLuhISZ e2e
First, the world-wide snortugc ofl hot cuwhtvi't wt
soods,
Spnnnil. the npppssltr fnr rnnnirln' I ronoIa
inc economic ravitccs 01 tne war
Third, the payment of the Immense
war debts.
IMPERIAL
BOTH WALNUT ST3.
ALICE LAKE In
'SHOULD A WOMAN TELL?"
102H
I I7ArI7D 41ST LANCASTER AVE.
LtrtUUX MATINEE DAILY
IRENE CVSTLE In
'THE AMATEUR WIFE
I 1RFRTY BROAD A COLUMBIA AV
l,lDE.r.l I MATINEE DAILY
WILLIAM RrSSr.LI. In
"SHOD WITH FIRE
PROPOSAL POi: HATS omen of the
, Quartermaster General, Clothlne and
1 HnuipaKB uiviBion. munmona
Citizens G. & E. 6s, 1931 (guar.)
United Lf. & Ry. 6s, 1926
Shaffer Oil 6c Ref. 6s, 1929
Empire Gas 8c Fuel 6s, 1924-26
Locust 6101 Land Title Bide. K" 4tl
Stockwell, Wilson & Linvil
Certified Public Accountants
Land Title BUJ&., Philadelphia
V
Fourth, lessened nrndnpHnn.
r Tliee nre filnrlnnienrnl fiintiM., nml
granting the Ktnhllfzlng Influence in the
llnancinl condition of the world, nmv
we not expect that u new rule will have
to be used In forecasting biinlness condl
tlons whllo these unprecedented factors
remain.
(iiniranty Trust Co., Now York
Oreut llritnin'H rnnidlv incrensiut: ex
port trade Is un indication of what the '
premium on the American dollar hns .
done and Is doing to stimulate the will1
to work among the countries recently at
war. Had there been no visible limit
to dollar credits, Kurope might have
continued buying with borrowed money,
nnd borrowing again to repay still older
debts, which, of course, would have1
htlmulntetl n false export demand in the i
Hilted Htntes for a few additional I
mouths, lint the fnct that there is n
limit to uvnilable dollar credits, even It
not yet uttaiued, hns led in its turn to
the premium on dollar exchange, and
to the necessity of Europe's settling
down ut once to the tnsk of mrcting her
own needs as tar as possible at home.
Chandler Bros. & Co. The market
of the Inst week, whllo displaying very
excellent form until Tuesday afternoon,
when n reaction, apparently duo to
liberal proht-taklng and by reason of a
weakened technical position becnuse of
the removal of a largo short interest,
wus an cxclusivo rather than Inclusive
sort of nn affair. Advunces of an Im
portant character were confined to those
stocks in which there wus an establish,
etl largo "short" interest and nimble
"pools" were uctive in making miser
able tho lives of these unfortunates, as
they hud been in cllmlantiug tho Inst
precariously held "long" stocks as
lower prices wero forced, duy by dny.
When constructive performances ap
peared at Washington, In the halls of
legislation, ttnd in the judicial atmos
phere of the United States Supreme
Court, It was tlmo to desert operations
for u decline, nnd they wero forthwith
abandoned, except by tho .unnll fry
who pvcrstay tho change from u "bear"
market in the sumo fashion as their
bovine friends refuse to stop buying
until they feel both a mental and a
fiunnclal hammer knocking on some
vltnl nerve.
Henry L. Dolierty & Co. In 1010
this country produced 370,000.000
barrels of crude oil. It consumed 418.-.
000,000 barrels, Demand was met onlv
t,v Importing Tnrge umrilllits from
ft'
IIitllilteK
Wastilnston D. C. Seuled nrouosala. in '
duplicate will lie received hero until S:0(l
P, M. March 20, 1020, for furnlshlnB all I
or anv part of fto.Btio Service Hats In
formation en leanest
PROPOSALS roll CONSTRUCTION
Plcutliiny Arsenal, Ioier. N. 4.
March II). lu-.'0 i
Sealed proposals for construction and ftn
hlns four manufarturini; and storaea
hulldlnKS will be received at this arsenal '
until I o'clock p. m.. March 20. 1D20. For
fermi drtwln-s and specifications apply to
remmnndlnff officer.
333 MARKET T?,7. ,7!,
LlONE't, nARRTMORE In
"THE COPPERHEAD"
IinnFJ 25 SOUTH ST. Orchestra.
IVlV-yLIL. CnntlMumii I to 11
ALL-STAll CAST In
"EVrcilYwflMAN
SAVOY 1-U "ARKET STREET -1
Jf VUI H A M. TO .MIDNIOBT
ETHEL CLAYTON' In ""IUHT
"TOUNO MRa. WINTHROP" I
I14TH AND DAI.T.
MAT.. 2: Ev n '
r. iiii'.i. I I,AI1U. in
SHERWOOD
ETHEL CI
"THIRTEENTH COMMANDMEyr"
STAN1 FY WAKKEl ADOVB 10TH
.MARION DAVIES In
WISH. fTJLtlY '
, iL
nu
VICTORIA MAHKET ST. AD, TH
VllUIMrt i, A M to H;15 P..JW
MIRIAM COOPER In .
- HHOl'LI) A HUSBAND FORGIVE"'
W
Th NIXON-NIRDLINGER
THEATRES
m
BELMONT C"D ABOVn market
LIONEL UARRVMORE In
"THE COPPERHEAD' '
CEDAR C0TU CEDAR AVEMJB f
WALLACE REID In
"DOCnLE SPEED"
COLISEUM MA"KET BETWEEN
j-.ikjiiiivi wth ANI) 00T1I
ISIiUBRT WARWICK In
i in: tree ok knowi.edob"
IUMBO ynSr, ST;, O'nAIlD AVE.
juiiiuu Juinlin Junction on Krankford "L."
I) W tlRIKI'ITH'S
' HROKKN IlLOSSOMhH"
F Ofl NT '-D ANDLOCl'HT HTREBTsI
IAJIU31 Mats. t::iti;rt-:io. Evbs otao toll
IRENE CASTLE In " "
AN AMATL'l It WIFE
MIVONI 5-D AND maiikbt"sthT
J, W KERIUOAN in
l.lii.OOi)
RIVOF I C-D AND NANsoir stsT-
1VV-"-1 MATINEE DAILT
n. w. (iRiFKirirs
THE .MOTHER AND THE LAW"
CTR AMn aEUMANTOWN AVE.
J I r-lNL T VENANGO
LIONEL I1ARRYMORK In
"THE COPPERHEAD"
west Allegheny ".
A ltihan
WSIII1I R I,,
11IIYWT
TOO Ml't II JOHN'SON
-
mfm sp v v -r - -r- v w m w m w sa v ' l 1 "r m . . . z. jm x. 7. W
EUREKA 'r" S.iSLvlFRANKFORD ",5 A'6"u
LEW CODY In SE-itflL HWAKAWA In
THE I1BI.OVED CHEATER' I THE 1IEOOAR PRINCE
L'umni'te hrt houlnc programs for Urn wielt upiwara Saturday ocnliif and Sunday
NEW LOAN Exempt From
Federal Income Taxes
$800,000.00
City of Bayonne, New Jersey
5M2 Per Cent Gold Water Bonds
Dated April 1, 1920 " Due April I, 192G
Interest April and October
Denomination, $1000, Coupon Form; I(c;istratiuti I'milcce
Legal for Savings Banks in New York, Neio Jersey, 1'rnnniihiuiia and
Throughout New England
FINANCIAL STATEMENT
Assessed Vuluutioii 1919 $72,621,096.0(1
Total Indebtedness $7,915,192.17
Less Water Debt and Sinking Fund 1,932,692.01
Net Debt About ro 2,982,800.16
Legal Opinion, Messrs. Hawkins, Del'alield & Longfellow, New York City
PRICE 102.05 and Interest to Return 5.10
KVB. FREEMAN & CO.
421 Chestnut Street Philadelphia
Telephone Lombard 710
Mechanics Trust Company
Bayonne, New Jersey
Telephone Bayonne SIS
Coal & Iron National Bank
ew York City
VflMVM'v
Telephone Cortland GP32
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