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48,830 SHARES
American Hawaiian Steamship Co.
Capitalization 500,000, Shares Par Value $10
A'O FUNDED DEBT
American Hawaiian Steamship Company, which has been successfully engaged for
over twenty years in a general freight-carrying trade throughout the world, now owns
and operates a fleet aggregating 174,330 deadweight tons of the highest class of vessels
consisting of the steamers
Alaskan
American
Arizoiuan
Dakotan
Kloridan "
Hawaiian Pan a man
Texan
Iowan
Kentuckian
Mexican
Minncsotan
Ohioan
Oregonian
Pennsylvanian
Virginian
The Company has recently acquired over 95 of the capital stock of the Coastwise
Transportation Company which owns and operates the following fleet of colliers which
has an average age of five years and an aggregate tonnage of 70,500 deadweight tons:
Coastwise
Transportation
Suffolk
Middlesex
Norfolk-Fairmont
Clarksburg
Hampden
Franklin
Bristol
The American Hawaiian fleet is time chartered for over seven months, and the Coast-
wise fleet is chartered for three yeara so that future earnings are well assured. The man
agement of the Company will remain in the hands of those who have successfully han
dled it in the pa3t.
As of March 3, 1920, the financial statement of the Company shows net current
assets of $9,378,o00. After allowing for the net current assets, the 500,000 shares of
capital stock outstanding at $75 represent a value for the Company's fleet including
its interest in the Coastwise fleet of $117 per ton.
Earnings have been maintained over a long period at a rate which has permitted
financing new vessels from earnings and the payment of liberal dhidends. Since 1903
dhidends have been paid on American Hawaiian Stock equivalent to $81.75 per share.
Net earnings before taxes of the Coastwise Transportation Company for the year ended
February 28th, 1920 were equivalent to over $7 per share on American Hawaiian
stock, based on the proportionate ownership of Coastwise Transportation Co. shares.
The present rate of dividend on American Hawaiian stock is $8 per share. Net earnings
after taxes for 1920 are estimated by the management at between $17 and $21 per share.
We offer the unsold balance of th: above shnrcv of th Vmerican Hawaiian Steamship Company mbject
to prio" sale and change In price at
$75 per share yielding: over 10y2o
At current rate of dividend
W. A. Harriman & Co., Inc.
Marine Securities
120 Broadway, New York
Hay den, Stone & Co.
23 Broad Street, New York
Kissel, Kinnicutt & Co.
11 Wall Street, New York
I In ii iifimriilx i iiTii.i iinl liiirin it ivt cuiirm i.I Imt ir liiwil on inf'rmitlon which I' br
licM.il tu In iinuui'c iii.l nli.ilili .iii'l up hi . h h " luixc nun? In putchi'ins these shares.
V
NEW ISSUE ...
$12,000,000
Canadian Northern . Railway
Five and One-Half Per Cent Gold Notes
The Dominion of Canada
Guarantees Principal and Interest
by Endorsement
$6,000,000 due December 1, 1922 .$6,000,000 due December 1, 1924
Principal and interest payable in gold in New York
at the Agency of The Canadian Bank of Commerce
Intercit payable June 1 mid December 1 In coupon form of $1,000 with provition for regiitrMion
of principal. Authorized and Usueti, S12, 000,000. Dated December 1 191 D. Callable ai a whole,
or in amount! of not le than $500,000 by lot, nt 101 and interest on any intercit date on GO
day' notice. The Company agrees to pay the United States Normal Income tax up to 2 if
exemption is not claimed by the noteholder.
United States Mortgage & Trust Company, New York, Trustee
'1 he (. nii.idi.'in .iiitlicin Kailw.tv is uik1 In tin- loja-i iinicnt uf the
Dominion of (. anada tin "ii nil acquisition oi its capita! luck under authority
of Acts of the Dominion I'arli. uncut.
Prices to Net 6.90
Notes due December 1, 1922, 96.64 and interest
Notes due December 1, 1924, 94.50 and interest
Wm. A. Read & Co.
1421 Chestnut Street Philadelphia
The Canadian Bank of Commerce
16 Exchange Placo
New York
- J,arff--
SEES PERIL IN
W.W
DRIVE FOR SO
L
DIERS
Adjutant of Leg'fon In Utah
Warns of Propaganda
by Radicals
n
URGES FOREMEN'S
TRAINING
COURSE
ASKS FOR FINANCIAL AID
Ity lhn Afemrlntf! I'ritui
ftshlniton. .March 121. failure o(
the government to nld former Hcrvlcc
men lius resulted In the I. W. W, mnk.
lug a drive to get such men Into tlmt
orcnitix-itiou. the House ways mid menni
committee um irAil tminv hv .T. V..
IIoMcn, stntc adjutant oC the American
U-cion In Utah.
Oipinired propaganda . aprenillns.
he said, and many "iinintcllifccitt" for
mer ar lie men urc helnjt cnthcrcd iuto
ihe 1. Y. AW as the result.
"It Is hard to come bnck." Ilohlen
ald. "and see the I, 'N. W. mulct
mining the. .principles ami ideal of for
mer jcrvlee men and plottiug t)i0 over
throw of the, government."
.1. (J. Strugham, u member of the
Toulon's executive committee, told the
committee there was much discontent
uonj; hotli former service men nnd
women, and that imediate rolief was
uewf-sar.v.
"They feel thev haven't Rot a square
deal ai)d uie chafing Avith Untcit,"
StrtiRhnin Haiti, in urclpR pas(iq Of u
composite bill framed by the Legion nnd
piovidins privileged land Kcttiemcuts in
MiKgrnted In thc Lime-Moudoll bill;
homo building aid : 'vocational tinlnitig
and pajmcht of ndjuotcd compeusutlon
nt the tn(e of .fl.tJO for every duy
of FCiviee.
Ilepresentntive Girncr, Deinorrat.
Texns, wanted to know how the funds
to uirr.v out tlie iLcgiohJs plans were
to be raided.
The vvltuert said lie v6uld leave tlmt
to the committee, bjt he estimated the
totnl cost at approximately S'J.IQO,-000.000-
Th Home oCHAS. K. JONES CO.
No. 9
As Investigations
The offerine of curitles
for investment involves a
moral obligation. To ful
fill this obligation we con
duct a thorough investiga
tion of securities we offer.
This inquiry is not merely
technical, covering; the as
sets underlying the securi
ties, but it penetrates into
the management and the
future earning capacity of
the company.
Send for your copy of our
current offering list.
(To be continued.)
I'urrcnl Inveatment Off r
Intn ' I. ' ent upon Ileauesl
municipal Railroads?4
Corporation Bonds
to Broad Street - New York
mCKCTMIM CUU MtUl"ttCTUOT-
Importanco of "tloss's" Holp in
Accident Prevention Told
State Safety Congress
WILLING TO DO HIS PART
Uy Iho Associated I'ress
lfarrlfthurg, March 24. The foie
man nnd Ills imnoitnnt relation to the
orgunlrutlon nnd maintenance of safety
rcguiniioni ot rcunhvivanin industrial
establishments foimcd the theme of a
general discussion at the opening of the
third dnv of the state safety conercss
at the Capitol today. The foreman
came in for some sharp criticism, but
also had his defenders anfong the safety
engineers. supervisors, emploj incut
chiefs and personnel mnnagent who made
up the audience. John A. Oartcl.
safely engineer of the Carneaio Steel
Co.,' I'lttMitirsli. wira the chniiman ot
the meeting and gave tome of his own
exporh new.
(Ij-orse, T, Toidn.'of the iictbjchcm
.Stee,l Co., declnren the' foreman wat
n "pretty busy fallow'' nnd to make
nny'sufety movement effective; the fore
man hud to be n part of it.
"t'ntll the foreman is a converted
hooiter Jie'v Illilok aft?r-every alibi
he enn find, and-U the hig.bost; is will
ing to make. cjtcij,i"ffox'lilni yo'u can
fount on some linnr goina'J he said,
"Afteu nil, 'Wp inust rcaliro thnt the
foreman is iust as human as tho rest
of iK but lie is not superhuman. So
Mrcnt him with consideration and he 'will
PLAN NEW SHIP LINE
Meeting Today Considers Service to
, Pacific Coast
l'lans for n revv ship line between
this city and Pacify ports was dis
cussed today at n meeting nt the Ilcllc-uo-Btratford.
It is proposed to have
three largo freighters of the Pacific
Steamship Co. ply between Los Angeles,
Han Francisco and Seattle and Phila
delphia. If tho business warrants it, after the
first six months three more l.irgc freight
ers will ho placed in service.
Mayor Moore presided at the gather
ing, which wns called at the Instance of
tho Hoard of Trade, Representatives
of business interests nnd the steamship
companies spoke.
Delaware Body Backs Dry Law
A resolution indorsing the prohibi
tion enforcement amendment of the con
stitution nnd calling upon candidates
for the Legislature to publicly dcclaro
whether or not they will support a
state prohibition enforcement law in
harmony with the federal Umcndmenl
was unnnimously adopted at u meeting
of the People's Association of Delawnro
county, held last night in tho Arcadia
Cafe, Juniper and Chestnut streets.
As Governor Sprout is n resident of
Delaware 'county, the resolution is
taken ns the embodiment of his opinion.
STnAMsnirNOTtriw
HOW CHEAP ARE
THE LOW-PRICED
RAILS?
SHORT analysis of
fifteen leading low
priced railroad stocks
sent on request.
MoOREjEpNARD &INCH
' CVSHMANfJEWHALLJlgr.
1340 Walnut Strflt
Hitz-Carlton Hon l
Ncwttrk.
HUJrcvulway
MEMBCnS
WCW YORK . PHILADELPHIA
L PITTSOURGH
STOCK EXCHANCC3
t'ltWwrih
liiLKUllIin4
Tax Free
in Penna.
Infol nuition on a piim.i
nelit well established mw
fined romiitliv lomtdl In
Pennsylvania, tli.il Mi'iulil
mtoreHt any lincstoi lir
uf lVnna Slntr .mil oi
11 111 1 Incon e T.ix
To Yield 6.:0r
Information on Hancat
Baker, Aylin & Young
J. y NVV MN. Ir Vlmi isrr.
Land Title Bldg.
do his part in safety work.
'ToreniPn are 'made'.' not born." dc-'
tlnrtd K, C. Tnmige, cnploncnt ngent
of the Caujcgio Steel Cd. -"You must
latch them young 'rind (t"raln"thehi up
in the whv they should co; Jt-i8 my
opinion thnt nn apprenticcMiip course
for the training of foremen should be in
operation ihe. j ear round in every in
dustrial phnt. We arc not yet teach
ing our foremen a method whereby they
cm eliminate the friction and fiuuncial
loss- raiihvd b.v a. huge labor turn
ovei.'' NEW BONUS PLAN READY
Legion Representatives Urge Land
Settlement, Etc., -With Compensation
Washington, March 21. Ucprcse3ta
tives of the American Legion hod ready
today for presentation to the House
un.s and means committee a new plan
for soldier relief, embracing piovisions
for hind settlement, home building aid,
vocational training and payment of ad
justed compensation.
The pioposal is n substitute for the
original bill explained to the commit
tee fiulicr thin month by Commander
rranklin D'Ollcr and Thomas 1Y.
Miller, chairman of the legislative com
mittee. The fourfold plan carrying new
rntes of compensation unV approved last
night at a meeting of the executive com
mittee. I'ndcr the bill land projects in nil
states would be available to former
service men and credit nt the rate of
SI. 50 for every day of service, together
with a loan nt tho ratcof 4 per cent
interest would he authorized. Compen
sation nt $2 a dnv would be poid thoe
v.ho desire to acquire homes, in city of
country sections.
Vocational training would be extended
for a time equivalent to service in the
nrmv or navy and compensation at
St. 50 a day would be paid. Adjustment
compensation for those who do not de
sire to participate in land projects,
home building aid or vocational training
would bo paid at S1.50 for each dnv of
seivice. to bo available within a .veal
from tltc passage of the bill by Coiw
grcss.
OPPOSE DEMAND OF LEGION
1
Rear Admirals Denounce Its Appeal
to Congress
New York, March 21. (Hv A. P.I
Efforts ot the American Legion to in
duce Congress to uppropriatv bonuses
for hcrvice men were denounced last
night by Hear Admiral James Jt. Glcn
non, coininandnnt of tho Thiid naval
district; Hear Admiral C. A. Carr and
other speakers nt tho first nununl din
ner of the Mlne-bwccper Post of the
Legion.
Metnbeix nf Ihe Legion, Admiral Carr
declared, -.liould interest themselves in
obtaining intl fni disabled poldirrs 01
I dependents of those who were killed.
1 instead of trying to obtain mouej foi
themselves.
I DOG GIVES FIRE ALARM
Engine Company Mascot Leads Cop
to Blaie In New York. Restaurant
New York. March 2t - (By A. P.1
Out for .a htroll early this morning,
"Ilex." veteran mascot. of engine com
pan.v Xo. 4." discovered wmoke pouring
finm a lestuurant in, Muidcn lane. He
bunted up n policeman, led him to tlii
fire by bnrking. and kiompcred witn
ini!..r,iinti 114 Ills (omtinnr "rollnl"
nvwftlv to the blare. The tire vaa ex
I tliigiiished with blight loss.
I Hex lias lived at o, t hoiiko for ten
I jiurK. He was badly burned while as
I Mating nt the 1'nuitnble fire hcverul
wars ago. but icfused to become "lire
shv" biiuut-c of his experience.
EARHHJNE
U. S. Shipping Board Steel Steamer
' General Cargo
Regular Service
: PhOadelphia Manchester
S S "Deo Moinei Bridge" Apr. 5
Philadelphia Havana
SS"LaJteFoxboro" . .Loading
S$."La Galera" . . .Mar. 31
Fbr rates and particulars apply to
Earn-Line Steamship Co.
139 South Fourth'St.
PHILADELPHIA, PK
Green Star Line
MAnRKIl.t.KS, (IK.NOA & TniESTl'
H .JiW,Ftl,Un,ATI0 ,?RTi'0",1,n
9 "JOMAIl-j. Lnt8 March
S H "I.tniTlTV IIEM."...,FnrlT Arli
S "WINONA" JllddiAiir
IQMIIMII) MQt MA IN inn '
RERMU1
M-
There 1 a new chnrm to Ilermudu In
the months of .March and April, with
balmy rMaa and beautiful flnwera n.
where about It la a vcrltabla "Nature's
?,A"ii-v..7Ja:ic;!,,,,ta,?ur"':
FURNESS BERMUDA LINE
Fatt. twin screw, palatial ateamera
S.S. "FORT HAMILTON"
11.000 Tan Dttptacemrnt
Salllnc from New Tork vrv WMneailaT
S.S. "FORT VICTORIA"
14.000 Tona Olnplaeement
Salll" from New Tork every laturdar
No paeaporta required for nirmuSa
For further particular apply to
FURNESS BERMUDA LINE
Fu-neaa House. Whitehall St.. New Tork
115th Art CvUli.u ..
Thb 115th exhibition of He Acad.,
o tho Kino Arts opens tpmorrovv er?
nip nt Broad nn.I Cher-y rtreet? nil
formal o)cniii?, ndmlMlou to which vvlj
bo by ticket, hns been nrrangft 1 .Vi1)
Olvlc Club. As in other yenrs (.e'.id.i
tho rnrulnr prizes, n vot Tt8 (TO
ShlBflor1 ,,0,'U,nr ,,a,ntlu J" ft
.BTBAMHIIIP MlTltiim
'Juno In
IRG 7.
19IJolr3i
3A..H
IM'MLines
AMERICAN LINE ,
rat Mall Rleamera
. NEW YORK-PLYMOUTn .
CHERBOURG SOUTHAMPTON "
New York . . .Mar. 27 Apr. 24jMay 2i
....UUv,,imu .ipg. iuiu,iy 0Jtino
XNKW YUHK HAMBURG
mancoaria ,.mr. S May BJunal
Mongolia . . . Apr. 10May 22Jolj
Phllnrlplnlitni.T.tvninni
5et,,n, : Mnr.2'1
Andalusia Anr i
Havcrford A'pr;la
Philadelphia-Glasgow
Eastern Sea Apr. I
Philadelphia-Hamburg
Bcllcrosc , . , , , jjnr 2
West Gnnibo, .. Apr,2
RED STARXLINE
N. Y.-SDUTHAMPT0N-ANTWEnr
Lapland Apr. 3May 8. Tunc 12 Jly 17
Finland Apr. 7Moy IS June 19 .Il 25
Kroonland , ...May ljJunc 5Jlyirt
Zccland June 2G Jly 31
Philadelphia-Antwerp ,
Bcllcrosc Mar. 27
Western Plains v . .Mar. 2'i
West Chcrovy . . . . , A . . Aprrlb
West Gambo April 2t
ATLANTIC TRANSPORT LINE!
' Philadelphia-London
Western Maid AIar.27
MahQpae .....' Apr. 5
Wadtcna Apr. ll
Mackinaw Anr. 211
Holland-America Line
Philadciphla-Kottcrdam
A Stcatncr . . . April
WHITE STAR LINE
N. Y.-CHERB0URG-S0UTHAMPT0N
Adriatic Apr.24May 29July 3Aub.H
, AnJ Ttfculurlr Tliereafler
OLYMPIC Jf T-Jiy
v v 8, Aug. J,, Aug. 23
new yorr uvnnroor.
Cedric Anr. 10 I
Baltic Apr. 171
Oriana tnd Apr.
Megantic Apr. 21
Celtic .'...Maris.
1SIPAV VnTW I7nnrn
GIBRALTAR NAPLESGENOA
Crctic Mar. .t1l!fnv M711..1.. .,.
Canoplc Mcv 12LTniv "a
INTERNATIONAL MERCANTILE
MARINE COMPANY
iiiriiKrr wilier. IJIU VVIIInut HI ll.ll
IVelahf nnftf, n.H ItnifiS Hl.l'': imiII.'
May 22 June "25
'Juno 19 Jul; 24
B
Headquarters Since lSRtT
STEAMSHIP TICKETS
ESCORTED PARTIES
SPECIAL CRUISES
r"v Aznnrr .-o-
VjKAVJtt. PftJZtX t?OM CAq
United States Shirminir Rnn, p.. c
NewYork to Rio de Janeiro, Santoi, Montevideo, Buenoi Aire.
Anrll SI
.May
S: H.' JJftRSL'A.WAyyAW?. 13-000 tin. (b)
i it,,. ... '-"A1 V. i""" lUItt , ,
(a) Xnrat clana. iiii vir., j. .... -!-- ' . '...- rla." --
1 or vatsaat roles untl olhcr particulars
avvlu to aiu i'ajscuctr Aatncu or to
MUNSON STEAMSHIP LINE
I'HMrnrrr TJrnurtmrnt. H'.o 1ia.. uiru v v .1.. ..
"'"VhuliilUhi. I "T.J". I,ldf" .' -I1R Ull Strrct. I ' li'obllr.
1 hlludrlebla. I Ilaltlmore. bt. LouU. Alnh.n. ..
ZF
KtflfWtl
1 - 1
Federal Farm Loan 5's due 1938
Federal Farm Loan 4!2's due 1937-38-39
Joint Stock Land Bank 5's due 1938 & 1939
i
Wc make n active specialty in the nbovc bonds and arc
Vicparcd ntall times to buy, sell or quote. Inquiries solicited.
Barr & Schmeltzer
Members New York Stodt Kxchungc
H Wll Strefct '
New York City, N. Y.
i
Telephone 4500 Rector
ISoston
Philadelphia
Securities
for Investment
JosepKW.Gross it Co.
1421 Chestnut St.
Comojioiucii'i
AldrcJ fi Company
I'lltCIIAMlNO AOi:r OK ASSISTANT
Youiie inun. mrrlenctil In nil uuitra reut
ln to pur'haao of material, etorfhoup.,
niatertal arl traflle. vomhrra i-fpetua
Inventory hB ecur(t reaultii on larv proj,
trim mtchanlcal training: alri-a poaltlon
with larK llrm or corporation whrra India.
tlr hard work and loyalty will I, approil.
uiti. natlifact'y rf , loinolellnic .14 .ar In
pri"fnt no.l If W flrutih ftdOO N Tlro.d
Slockwell, Wilson & Linvill
Certified Public Accountants
Land TiUe Bldg.. Philadelphia
ata&avfett&fctfiirt
American Tel, &. Tel. Co.
G Note, Due Oct,, 1022
To Yield About Sfo
REED.A. MORGAN & CO.
WEST CND IflVST HUILDINO
ficmuca ui iu, nii, niocK men.
t
.y
Our Commercial Banking Facilities
THIS COMPANY is appropriately named ' because it
does a commercial banking as well as a trust business.
BECAUSE our name does not contain the word "bank"
some business men may think'that our serviceMslim.ited
to personal trust business. , m ' .
THIS is not the case. As j, a
, member of theFederal Reserve-
System, wc are well fitted to
serve you in commercial bank
ing matters.
Commercial Trust
Company
City Hali.Square West.
Member Federal Reserve System
i , ft -fti
sMTiZ ,nA hsuq
BffnwtLii!itJ. iiiiaBIi riftii' A-"KiiSaiBiiM
ALt .i&iLL2L
:-&&.
r
j-. It J
ViJ