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E VEKIG ' BLIC LEJDEK- PHILADELPHIA', TOfigDAY, MAltdH 00, 1U20
S-
BAR SILVER
Commercial bar nllver xvbb quoted In
New T6rk today at I1.26V4. unclianttcd.
In London, the price was 72Ud, up V4d,
ALL. FOREIGN
v CHECKS
- -R
BONDS
" 04
CURRENCIES
IM
T
Bankers and Brokers
Can You Answer Them?
If your customers were lo ask
any of the following questions,
could you answer them?
1. Why is a 5 French
bond for 1000 francs
marked on its face for
' only SO francs?
2. Whjch coupons ftom
French and Russian
bonds are good and
which are not?
3. Why are the French 5s
of 1931 and the French
4s of 1943 not due in
the years mentioned?
When are they due?
These and many other vital
questions answered in our new
booklet: v
j Statistics"
' Sent free upon request.
Lr.a.soich&co.
10 Wall St.,N. Y. Tel. Rector 5283-92
NEW YORK BOND TRANSACTIONS
tSAI.ES IN ,10001
From Opening Unlll 2 P. M. IN, Y. Tim)
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Inveatlsatu my proposition: I hnve the clean
fit, beat recommended dlvidend-pajlna; prop
osltlon on ttie marKet today; this la in In
eressed capitalization, and Is oftercd at Ita
took valuation; company' business Increased
27,1 per cent lst year, which necessitates In
crease IP capital. Apply
r. m. niinKK. .
Green's Hotel.
Kit
W-7
American Industrial
Roofing Tile
When fire reduced the
old wing of the plant
shown above, the modern
fire-proof addition adjoin
ing, with its American
Cement Tile Roof, re
mained undamaged.
American Industrial
Roofs are weather-proof
as well as fire-proof. We
build them for every type
of industrial structure. Let
us solve your roofing
problem.
r American
824 Oliver Building, Pittsburgh
EOChur-hSt, 801 Oti, Bide.
New York Philadelphia
S09 Brown-Marx Bid.
Birmingham
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The property is
located in the estab
lished financial dis
trict of the City of
New York and'
possesses, unrivaled
t r a n s it facilities.
The building affords
direct .necess to the
Sixth Avenue and
Ninth Avenue El
evated lines, and al
together seven of
New York's main
transportation arte
ries subways, el
evated and surface
lines receive or
discharge passcn
"ors at or close by
, ' building.
$3,000,000
Two Rector Street Corporation
(United States Express Building NEW YORK)
First Mortgage 15-ycar 6S Sinking Fund Gold Loan
Dated April 1, 1920 I)uc A,ril ,933
Interest pnynblc srml-nnnually April 1 ami October 1. Coupon in form, in denomina
tions of $1,000 and $500 with privilege of rcgistrution ot pnncipnl.
Interest payable without deduction for Federal Income Tax up to Vie.
Title insured by Title Guarantee & Trust Company, New York
Plot 18,000 Square Feet 23 Story Fireproof Office Building
Rentable Area 265,000 Square Feet Fully Rented Fully
Insured Loan for less than 2-3 Appraised Value Absolute
closed First Mortgage Mortgage contains Strong Sinking
Fund to provide for gradual reduction of the loan
In the opinion of counsel, legal investment for trust
funds under the laws of the State of New York
The loan U offered if, as and wlusn issued avd delivered to us and subject to
approval tf till legal matters b,i counsel. Delivery on or about April 1, 1020, m
.temporary form exchangeable for securities in permanent form when prepared.
) Price, 100 and accrued Interest, yielding 6
Complete circular upon request.
The National City Company
Correspondent OB'ices in more than fifty Cities
Philadelphia 1421 Chestnut St.
Atlantic City Chalfonte Block
1225' Boardwalk '
The above atalcmenlB are bawd on Information derived from l"cW " or tbo
rhrch we retard as reliable. We do not guarantee, but believe them to be correct.
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(N T. time)
Today's Range in Liberty Bonds
Mich
Lib Bond .'JVys..- H7.-N
1.1b nond 1st 4s. . H0.."i0
I.lb Horn! LM 4s.. ML IS
Lib Iloml 1st 4', 4 s 110.74
Lib Iloml LM 4ie s!.SS
Lib llond .'Id 4V.K I'-.S"
1,1b lioml 4th 4V, s!'
Vlvtory Note Mis 07. .'ill
Victory Note 4 07 5(1
Low
07,--'ll
on. 10
sn..".o
00..1.II
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02.71
S0.7L'
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07.51
Freight Line to Bremen
New Vorli, March 'M (U) A. IM
Aimotinccmcut Is ninile by C. It, Itloli
ards S: Co., tstenmship iiBentu, who
xvcro at one time pnwngcr njfpnts for
tln Hamburg. Amcriiiin I.lno. tlint t hoy
liml been designutcd by tlic 1'iilti-il
States shipping board In Washington to
open a General cotro service botxvpen
Npxv YorK and nrcincn. This xvlll bo
supplemented later by 11 passenger serv
ire after the freight service- hits been
dcx'clopcd, the firm slated.
Trade Quiet on Paris Bourse
Paris, March 30.- Tradlnu xvas quiet
on the liourto loda.x Three per cent
rentes xvere quoted at 89 francs; ex
change on London. 87 franca 9u ecu-
times,; five per cent loan. 88 franca 30
centimes. . ina uonar xyjis nuoten nt
trance, 90 ewitlmes.
,y .
14
W-
$2,000,000
Rockwbod & Company
8 Cumulative Preferred Stock
Preferred as to Asset and Dirldencls '
'it
Dividends Pajablc 27o Quarterly, January 1, April 1, July 1,'. October 1.
CAPITALIZATION
Authorized Outstanding
Including this issue
S Cumulative Preferred Btock (Par $100) f4,000,000 ?3,300,0(0
Common Stock (no par value) shares 40,000 40,000
GUARANTY TRUST COMPANY, NEW YORK, Registrar
From a letter, on file with uk, written by Mr. Wallace T.' Jones, President oHRockwood & Com
pany, we summarize the following strong investment features of this Issue:
BUSINESS
Rockwood & Company, established in 1SS6, is one of the three largest manufacturers and refiners
of Chocolate, Cocoa and Cocoa Butter in the United States. The Company's plant, located at Washing-ton,-Park
and Waverly Avenues, Brooklyn, N. Y., at present contains over 350,000. square feet, or more
than 8 acres of floor space, with lnrge additions ncaring completion.
The manufacture and sale of Chocolate, Cocoa and Confectionery is one of the large and rapidly
growing American industries. In addition to the normal annual expansion, the enactment of Prohibi
tion Laws is greatly increasing the consumption of these products, and there is every reason to believe
that the sales and consumption of chocolate and confectionery in 1920 will break all previous records.
SALES AND EARNINGS
Gross sales of the Company have shown' a remarkable increase from $2,709,21 1.00 for the year 1915,
to ?l2,7fl7.0.".4.:K for the year 1919 or a gain of 050 in the past five years. This increase is graphi
cally shown in the following comparative statement of sales and profits:
1915
1910
1917
1918
1919
Gross Sales
$2,769,241.90
3,022.248.00
5,525,509.15
7,900,483.05 J
"Net earnings
$237,089.85
217,7S9.93
420,547.85
500,429.70
1.508,655.15
12,797,034.33
For the five years ending Heccmlrer 31, 1919, Net Earnings after very liberal maintenance and de
preciation charges but before Federal taxes, averaged $57S,102.49 annually.
For the three years ending December 31, 1919, S'et Earnings averaged $811,877.56 annually, or
more Ikiii 3.3 times the Preferred dividend requirements including this issue.
For the year 1919, after deducting $505,701.31 for depreciation and maintenance, Net Earnings
were S 1.508.055.15. or nearly 0 timcfi Preferred Dividend requirements.
After full allowance for Preferred dividends, remaining Net for 1919 was equivalent to $1,244,055.15
for the outstanding 40,000 shares of Common stock, or $31.12 per share.
ASSETS . '
The Company after the completion of this financing will have Net Quick Assets alone of $3,900,
755.50, equivalent to $120 a share for the outstanding Preferred stock including this, issue.
Without giving effect to recent appraisals which show actual values of Real jjstato. Buildings
and Equipment considerably in excess of the amounts at which these items are carried in the Company's
Balance Sheet, Total Net Assets, after deducting all liabilities anJ Tax Reserves, arc $4,651,038.53'
The Charter of the Company, ampng other restrictions safeguarding the Preferred stock, provides
that 25 of the earnings applicable to tUeXommon stock shall be set aside to maintain at all times
surplus assets of $1,000,000" in excess of all outstanding liabilities and Preferred stock.
legality of this issue, and the. various matters In connection therewith, hare been approved by Sherman h Ster-
ling, t'.sqs., iew iotk, nnornrys lor inc oanKers; ana nrrmsn uaiunisnn, '. few mre, attorney ror the Company.
Hooks ana accounts oi tne Lompany nave neen auniteu, or .Messrs. r,msi .rns rvew York,
Eupene Reeve, New lork, Certified Tublic Accountants.
and Frederick
We own and offer ROCKWOOD &. COMPANY 8 Curaulativ. Preferred Stock, subject
to prior sale, and reserving tba right to allot a smaller amount than applied for, at
$100 a share, to yield 8
Hollister,White&Go.
INCORPORATED
North American Building
PHILADELPHIA, PA.
BO Congress Street,
BOSTON, 9, MASS.
4. .i.i.ni. ronutned In this oflertnr. while not rtiratrf. have been
mbich we rerard accural and reliable and upon which we hve acted la the purciaae ot tMa Issue.
92 Cedar Street,
NEW YORK
secured from mim.
.S"i'.Vi7i of a
Scries
California
Packing
THl
tisi
GOOD WILL
ROUGH well planned national adver
tising, through scrupulous care in the
-naintenancc of "Del Monte" aualitv. Cal
ifornia Packing Corporation is enjoying steady
increase in Good Will. Some conception of
this fast groxving recognition may be formed
from figures of gross sales for the fiscal year
C.nded February 28th last, which were approx
imately $80,000,000. Within -he past three
years the number of cases packed has increased
more than half, and "Del Monte" sales volume
has increased in every section in which these
products have been introduced both here and
abroad.
In practically every American community, as
a result of a policy of "highest quality only,"
consumer Good Will is keeping pace with
sales increase. Although the Corporation oper
ates 80 canneries in California, Utah, Oregon
and Hawaii, although "Del Monte" products
have for years been distributed in foreign
countries, great world markets still await cul
tivation. Wc have no hesitancy in recommending the
Common Stock of this Corporation as a semi
speculative issue possessing attractive pros
pects for price-appreciation. Practically as
sured appears the safety of the current divi
dends. Send for Detailed Analysis 12-D
E. A. Housman & Co.
Members icw York Stock Exchange
.N. E. Cor. Broad and Chestnut Sts.
nkw' york orncr.si
JO llrosil Mrrel -5 ,Vrs,t 33d Street
The statements rontalneil herein, nhlle not suaranteed
re based upon Information and advice which - 1..11...L
m-eurate and reliable.
A Possible Profit
of From
140 to 250
French Government
4 Bonds
The Franc is now worth about 07c
The Franc is normally worth over.. 19c
A 1000-Franc French Government 4
Bond can now be purchased for about
$53 '
With exchange at normal, the bonds
would be worth $135, A PROFIT OF
OVER HOCr.
With exchange at normal and the bonds
selling at par, they would be worth $193
A PROFIT OF OVER 250.
all pnrlicuars oh apvlcatiun
HARRISON & CO.
BANKERS
106 SOUTH FOURTH STREET
Afemfcers New York and Philadelphia Stock Exchanges
Commonwealth P. R. & L. Co.
' Pfd. Div. Scrip
Portland R. L. & P. Co.
1st &. Ref. 5s, 1942
.m.eiarlt0o.
RANKERS
321 Chestnut St., Philadelphia
Jeinberj .Veil' York nnrf Philadelphia
Slock Ktchanots
Tun Co. 3-Year Te Notes
AiiBlo-Amerlrnn Oil S.Year JVs" Notes
I'hriadeliililrt Klertrlr "N0'S .. .
Unileil llus Imnrmeiiient Co. 0re Nules
PAUL & CO
Mrmbrrs I'lilln. Nlock I'ulmnie
1421 CHESTNUT STREET
Satisfy
Ketltna
HOMES ELECTRIFIED I
jour llahtlnar problems. '
tea cheerfully furnished.
FRED E. RODEMANN
S.i . imWH' Mta hln
rliuue Lutust 111!
Penn.-Mary. Steel 5b, 1937
Market St. Elev. 1st 4b, 1955
Sun Co. deb. 6s, 1929
Maryland Steel 5s, 1922
Charles Fcnron & Co.
333 Chestnut Street
?
Lawrence t. drown oc jLo,
rrRTicirn piibi c irrnnu
ISIS RK.Xl. F.STATK TIII1HT lll Mi
Inxestliate and adjuil. nartoereWnV
all
corporation, sreounts.
incoras Tax naiurn.
Also prepare t),
Canadian Northern
Railway
Five and Ones-Half Per 'Cent
Gold Notes
The Dominion of Canada
Guarantees Principal and Inter-'
csi, Dy indorsement
$6,000,000 due Dccombor 1, 1922,
$6,000,000 due December 1, 10241
Notes duo December 1, 1022, aft
96.64 and Interest 'i
Notes due December 1. 1924, atl
94.60 andInterest
Prices to Net '6.90f0
Send for Circular
Investment Sanhsn
Utmbtrs Phila, Block ExcKcmgs
Real EiteU Trust Blslf.
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