'. HWPP
SL
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t
irt n
vtsp
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V
Hi.
,
jv.
i
'
ki'
IV
fr
Kit
W
1 rk
13
ir i
t 1
l(t 1
M 1
!. .
h
u.
htwanctAi.
fM ,. sikrion pciinnr. district
v itt'i, nit asYsi. Sifiviw
i'-?''. b'l "r h?rty Imltnl for sit or
r Prt Of 1100.000 counnn honrt. ,. hA
2. JKr ,h, Srhool District of I,owor
i ,0.ba.?' ",o r",e of ht " '
71.11 . iw II"- rrnun fu 1110 Diuiiinv. es.cn
nifl In Hill .1.. a., a a . . . ......
I i- - ,: .. '.,u rmv ui inisr?si lor WHICH
lL'f rjk'.nl"'- . ' bomla will b of tho
minnnon or, iono. intrrsst p stile
I'nuMly. without deduction of miv lux
2-1. Iv' -V".. i,,'i in iiistur rsriauv
ellowst In four IriMtallmani of .IB.0O0
flN TMH 1 lilt.. .... nriA
' ..v.".' '.Vr'.M -.U'T .. ".'' .'""'.'
?'P ,' on Juno I. Jnir., and Do
rji ii. lire assessed ainc or tno
nS01"".0' ,l' Srhool Dlstrkt l
XU,aco nif Its rxtsllng funded Inrtoht-
n. ." ";; i't vfi'voi input- in,:iuiji'f,
nwks lis tolsl Ind-blnlnc, less tlimi
l.ETL5lU of "J uutlon of His
Jlll8 property 111 ralil H.-hnnl District.
J,','!: "',hrw' on r ol'out .tune 1
Hv r " '-iii,rr-u on or siwui .lune I.
'32 i& nn ccssrul Wilder, upon pnymint
UJ .I., i ''- u'i rnviw-i, iiik'M'bi r.i" II
Till Plusl UA aprntimunl,! lv a Arflfl t.h.b
rrjj20f,f!' Thn cllck of tho sin-n-ssful
uaAp ntilv in t... ...., .... t ...... ... i i..
ij.i." V .-" w .' l-"lMllivn ll ll lir i li'l-
MfPMl If -.. k.l.l. ,- ... 1-.- .1..
;.. ""!. i'1'ii'ir inns in i-uiiiihimp iu
Ki'TSl"' Is" Mils undr pur .-ill hi- ion
llrd. rmfrrpneo n III ! bIm.ii to blJn
oafU on a 4S"P IhtervKt ralr Tim rlsht Is
rv;rvm in r.Jeot Hn.v or nil lMn
lllrta will b oini.l nt the lllli S hool nt
AMtnoro on AVrdrnvuiiy April 11. ll'Uit. nt
f o 'look p m . nnl mum l" frnt lo nml
rctljd by ihn 8rr(lan', William .1 Hjni".
!. 123 Coullxr av . Ardmnre, bfnr Ihrn.
Thfl form of Hip bono bus hti approvod by
fleatr. ,Morun, torl llorklin utul may
Mr mlncl at thlr ofllcp. 0H4 l.nnl Tliln
uiitldlnr. Thlla dolphin Pa Their opinion
will b Riven upon the lrgnllty of tho bonda
whtn aud.
Gold Withdrawn for Mexico
w York. April 6. Two hundred
thousand dollars in pohl coin tins bfen
withdrawn from tho subtrcasury for
slilpmcnt to .Mexico and $76,000 In half
cnclca for South America.
REAL ESTATE and
BUILDING EXPOSITION
First Regiment Armory
Mayor Moore Will Open Exhibit at
8 P. M.
FREE DRAWING TONIGHT
Arlington Refrigerator
Novel, Interesting and Attractive
LaborSaving Devices
Admission Free
ilL... .. . ...-.it- . I .. . . I - ' ii in
Philadelphia Markets
SIXfntTV 8At.UM.MAN
h,io a proiKimilon narrmiilna thp at
tfntlon and rntrnislaam of tli Meht-ctaiis
lu'wrnm, arlllns: flrat luo of old-eslab.
Ilnlifil tl t'urporatlon. If you have a auc
tpnaful Mlllng rcordt mop In and talk to
Mil. udvufru
V50 H. Ilr.iad at. Suite 100
nv.tM'IAt,
JCASTON OAS VVdltKS VIUMT COV
' HOMDATUU SIOKTCIAdi: .t PP.U
CBNT noNDS, n; .rm.v i. to.io.
rThs undrrslxned InMla tendora of abo
onoa for aul and delivery in nt Auaiiat 1.
WO. at a prlre not CM.'sedlnrc inricj, nd
arrrui1 Intereat. to absorb )l..1l.,0. u auin
I'tww aallnblr In Flnklnir Kund.
Bealed lndera. atntlnic numbrra nt bonda
JHffrm. addread to Glrard TruM Company.
Trustee, Slnklnu Fund. Unrtin Una Works
Flrat Coneolldated MortirnB" Pli Per fent
IlI""31 w"l l recel.Ml until II p. in., April
ta, io2o.
43IRAni TIIVST COMPANY. Truateo
OKOnOi: Jt. STPAUT .I.I Tr ,..urcr.
Philadelphia. Pa, April 1. tn'.'O.
KABT DK.R UIIM.n COt.I.IUP.V Ctl.MPANY
mnklnt; mail ollee,
. Iuruant to th Hlnltlnc Fund privlelon ,
Jp tho MortEAKP of Kit linr llldre Tolllery
Companv to ridellty Trust ronipan.v Tru-
te. dattxl Jlny 1, Pin eealei propne.iin
Tpr the, sale to aald Pidelllv T ut '.inpan.
Truatea, at a prleo not to xrl loa'i per I
Ctntum of par. pltn uivnied Inier-at. of a
uftlclent number of bond laud under ald '
Jilortarace to take up the auto of t.10.000. i
will b received at thn offp-e of raid Trueti'C I
oa. iu.i-j.il cntnut street. I'liiiadeipiiia.
.nntll Kutunlay. April 10. 10'iO. it 1J o'rloeli
noon: bonda accepted to ! eurrndiTcd for
iodemptlon at next Interest period. May
. lliiO.
KIDliLITY TTltTST COMPANY. Trutc.
William P. Oent President
Plilladetphla. llivrch 25. 10U0.
SfHT-RIN OAS COMPANY Or PMILA.
rinjT MiiRTOAtn: s. nun iosj
Pursuant to the terms of tho mortitara of
the atiove company to the Real Kitate Trust
Company of Philadelphia, trustee, dated
April 1 IP02. to rure an lue of $200,.
nno of bonda due IK.l'.V tender of such bonds
for lnkln fund purposes, at a price not
to exceed t" and Hcerued Interest aulflrlent
to uhsorh the um of Jld.T7S.3i. villi be re
celd by the trueteo up to .t p m. Thursday.
nrit M lo-jo for tMjruhuea and delivers on
April a lO'JO I
mi; heai i:statr trpst company i
OP PIIILADKI.PIMA Tnt'STHK
S K or ll-nnd nml Chestnut ets.
WltUAT Receipts, 31.0S8 bush. Tho
market ruled firm at erovernment prices.
COllN tlecclpts, 0022 bush. Barely
steady. Wo quolo new, as to duality and
location, at $1.7291.83. tho latter for No.
2 jellcvv.
OATS -neeelpts. 802 bush. Airaln hleh
er Quotations; Car lota as to location
No. 2 while. l.ll)t.in'4, No. II white,
tiifWAJJOHl No. I white M pt?l,os"i.
iH.OUn Uecelpts, 2,27J.T:i7 lbs. In sacks.
.7 , j ; . . .. ""i'.ii. i it inn loa.,
packed In 110-lb. Juto sacks Soft winter,
slraluht western, $in.75ll 2.1i do. do!
VrSr.'Ti .!.10J,n Will hard winter, straight.
$12 fiOW Us do, short patent. !:i.23WinT70!
r-prlnc "rat, clear. HO.80C10.7Sl do. natcnt,
;.. ui,,vi.,.ui euv-rt yaieni, ihvm Olll
brSn'ds'",'!: mm"' P"ntl ,amlly
RYE PI.OUII o.7S01t.3.1 pe.r bbl.. In
sink, as to nuallty.
PltnVlR'i'Nrt ii ni. lleef. In sets smoked
and alr-drled, Snci bef, knuckles and ten
der smoked and alr-drled. Mc! pork, family,
."UV; linm. P P. cured, tooeo, JOtfatci do,
skinned, loose, 3tHl'30i, , no do, smokd.
32TS2',c. hams, boiled, boneless, IPc: picnic
shoulders. S P. cured, loose, 21r. do. smoked.
?c- bellies. In pltkle loofo 21'ici breakfast
bacon, 32n: lard. 2S4c
'TT'Ml Finn. The quotntlnnai Solid
packed creamery fancy, hlli.scorln Roods,
Wii371c; extras 68c, extra firsts, tlOB67c:
firsts flSWnSr; lecond. BOOnOe; sweet
creainery. cholco to fancy, 70372cj fair to
Uoou, BT0OJCI prlnfa Jobblnr at towibo xor
lancy inn at oouxoa tor air to iwu. ,.
nUUH AnAln lower. Freo cases, nearby
firsts. $12.60 per orates nearby current r;
celpls, $12.45: western extra flft".. lll
western flrsta. $12,30; southern. lt-0: so
lected fresh egga Jobblns; at 48080a per
dozen.
C1IKESK firm. New Yerk whole-milk,
flats, held, fancy, 30H 81ci speelals hlrher:
held, ordinary to Rood. 26OI0C: current
make, nominal I Jobblnt nales of fancy aoods,
S2033C.
IjIVD POULTRY Fowls, fancv, fat,
4lc do. medium. 40W42CI do. Inferior, 38
cnos brolllnir chickens, fancy, soft-mested,
u.lrhlnr 1t(.l! 1h nnlc. KMIfliriei SOrlnr
chickens, averaao soft-meated. 42944c! tip.
Inferior. 3Sl0o: staray youn roostern, 30t
fi32o: old roosters, SSSlOoi ducks. whlt
Pekln. 4440os do. Indian Runner. 42g43o:
do, Musrov)- 30W 32o turkejs. 40045c: I
plceons, per pair, 8SO60o. 1
DtlEBSKD POUITIIY Fowls, fresh I
killed, dry-picked, In boxes, welshing 4 lbs.
nn.l nv.,1. nrilMn ilffi tvalffhlnir Hu. lbs.. SnUV '
Wic; wclRhlns 3 lbs., 34W3i)ci fowls, fresh
Killed, In bbla., drv-plcked, welchlna ,4 lbs.
and over apiece, 4(1(4 c: welahlns; 3H lbs.,
37rt38c; welehlnir 3 lbs.. 333Rc. old roost
crs, dry.pkked, 20c.
nib's 1 1 FIll'lTH Apples. Pr bbl. as to
quality. I68. do. ter lx, $IJ0Bt28,
Oranges. Florida, per box. 2.flr.f 7.78! do,
California, per box, J2.fl."iW7.a.1 Orape
"frult, Florida, iwr box. I1W4.1P. filmw
berries, Florida, per nuart, 40(r00o
VF.oteTAULES White potatom. n'r 'Wt..
$S.75!3'll.25. Sweet potatoes, southern,
per Hamper, $t.3.'.B'2.2Si do. Jersy. ier
basket, 75oJl 73. Cabbage, New lork,
i ..,Viai.,i
i&l.
i',
tiaiul-U .... .-. t . , ...
iirL'" lrPn wuiMor aa. fioniu, 'per
CHICAGO BUTTER AND EQQ8
Chicago, April' 8. DUTTER Higher
Creamery, 4PS7004c.
.!i(.)a3.TlTn"fJ11'1' . Rlpt. CH7 casts.
rirt. 4Jig42l4c! ordinary firsts, 07W3SC: at
mark, cases Included, 41GU4c.
Fire Damaget Reading Paint Plant
Reading, I'a., April fi. Tlir'co lurgc
biilltUnss ut tho A. Wllhclm l'alnt
AVorks were destroyed this morning by
liro which originated in tin "hlnck
shop," and caused n loss estimafed at
500,000. The Wilhelm plant wa
ccntly nc'qiiircd by tho Oliddcu 01
varnish (X).. of Cleveland
s vo
Oil nutl
Dividends
TIIU PlTT'.llfROII .1 WKST VIRtllNIA
RAILWAY COMPVNY
Preferred Dlildend No, 12
The Hoard of Directors has declared a
ilHldend of one mid one-half UtV pr m
mi the prefi rre.) io.-k of the conipuny for
the nuartT ended Mart h fit. 1P20, pavahle
Mid 31, 10211, to toikholders of record at
the close of business on Mnv ll, 1P20
II C MOOnn, Secretary.
Plttsliurch. March 27. 1020.
ntin.il Meellnc
TUN D Kit OP IIOMIS
of
rjTTSDi;ROIt-Wn.'TMOHUtuND C0AI
, COMPANY
Ural Mortgage 40-Year Br Slnklnc Fund
Oold Coupon llonds dnted Mav 1. 1PD7.
NOTJCK T) ni)Mlllll.l)i:HS
Tenders f nboo bonds, not exceeding
evtnteen, for th Sinking rund. to l de
livered Mar 1. 1P20, are hereby lnlted.
Offrs. utatlnc price and number, together
with the bond numbers, should be mailed
to the underslrncd Trustee offers will not
be received after April 20, VJifl. nt which
dato all offers received will i-t opened, and
those whoso bonds are a cepted will then
h notlfled. Right Is resened to reject any
nd all offers.
KOPtin'fi SAVINGS AND TRI'ST COM
PANY OF PITTHlirP.OH
(formerly The Safe Deposit and Trust
Co. of Pittsburgh).
Trustee.
Wood Pt. ft 4th Ave Pittsburgh. Pa.
Tin; mk.miikrs or tiik piiiladki.pihx
Contrllinllonhlp for the Insurance iif
iioii-i. iii'in ,.-.- ,,i . ii ni- iiuiiiicu mat a
general meeting of the contributors wIL bo
held at tho ofrire. JfJ South Fourth stteet
on Monday, the 12th liar of April. u -
o'clock In the afternoon, to choose directors
and u treasurer In accordance with the cLar-
t,r J. 80MURS SMITH. Secretar
March 2d 1H20. r '
WXTM(IHKINT COAL COM PAJt'l .
Olfleei 221 Month Third St. '
Philadelphia. March S3, 101)
The annual inelln,T of th stockholders' of
the Wealmiireland Cool Company tvlll be
held nt the ylflce of the company on Wed
ncdio. Aprl 7th. 1020, at 12 o'clock noon
for Hie ectlc.n of Ihree .lltcitors to sor"o
three wr. an 1 for all en. Ii ,vhir business
as may properly conic lcffr. the meeting.
HOWARD R. YBARSLnT.
Secretary.
,y?& tiik anniai. MF.nriNti of thi:
S" lleitern L.ird Ansnrl ttlon will bo held
at tb" ofllii of the Company. No. i-"
Stephen c.lrurd Pudding Philadelphia, pa
on Tuesday. I he sixth diw of April, 1D20.
at t i thlrtv 12 301 P. M . for the election of
Ulrei'tnr) for the ensuing vr and for the
trausaitlun nf suf-li otln r bus'nen as may
b- legal!' hrcucht before tl.e tueellng.
FI.ORi:N-U Dt'NLXP .. rretarv '
MARINE ENGINEERS
and
TUG BOAT PILOTS
WANTED
Steady Employment. Marine Engineers and Tug
Boat Pilots, licensed for New York Waters. Permanent
positions for good, reliable men. Bring your references
and licenses with you.
Apply to
N. L. CULLIN, General Agent. Associated Marine .
Dept. of the Trunk Line Railroads. C. R. R.
Terminal, Foot Liberty Street, New York City.
U
Atlantic
Gulf Oil
Corporation
Bought. Sold
and Quoted
MOORE
LEONARD
I. LYNCH
CUSHMAN NEWHALL
MANAOOa
NtWVOM "alTVSA-alT'o'Mrto'TlE1" m0g
.J.L fX'CK
aOAimn MtM8: euaoiN
NtWVOXX,SHItADClMIA bSllTlSUIIS STOCK UCHAMOU
Kentucky Securities Scrip Dividend
Tho Kentucky Securities Corporation,
at a mooting held March 31, declared a
6 per cent scrip dividend on the corpora
lion's outstanding preferred stock to
stockholders of record ut tho close of
business April 10. This dividend Will be
payable In cash without Interest, upon
such future date n the board of direc
tors may by resolution determine, but
In no event later than April 10, 192S.
This 6per cent scrip dividend declaration
covers the four accumulated fpiarterly
dlvldeds of Vt per cent each of October
IS, 1018, January IS, July is nhd Oc
tober 10, 1010, on tho preferred stocK
and represents all Uio unpaid and ac
NEW ISSUES
cumulated dividends to April it, i2p.
Tho dividend scrip .certificate represent
Inn this declaration will be prepared and
mailed to preferred stockholders on or
before April 30, 1020. Tho rcsular quar
terly dlvldond of Hi per cent was a so
.inln,l nnvnhla Anrll IS to stOCKUOUl
era of record April 10.
Eastman Kodak Extra Dividends
Hoehrster. N. V.. April S.--TI10 East,
man Kodak Co. has declared two extra
dividends, on, of 5 per cent and the
other of 2 Par cent, In addition to
the regular quarterly dividend of 2V4
per .cent on the common stock. Tho
regular quarterly dividend of l" per
cent on the preferred , stock ' also wj
declared. Tho extra, 'dividend of. K SJtl'fl
cent on common Is payable Juno i Z
stocK ot rooora Aprji av, ana olhiJ
dividends July 1 to Block of record"!
Uli
''Advance Refined SUgar One Cent
New York, April B.-Th 'American
fluirar neOnlna- Co. today advanccfl lu
price of refined eugar lo a pound, to
16c. less 3 per cent for cah basin Una
granulated. The company announce,
that It Is making only city deliveries
belnfc unable to make out-of-town shin!
ments on account of the harbor strike
Olhct. refiners aro withdrawn.
LIBERTY BONDS
All Issues
Bought and Sold
$50 $100 $500 $1000
Graham Parsons RCo.
435 Chestnut Street
Philadelphia
HEATING
VENTILATING
POWER PIPING
STEAM FITnNG
H.L.Roberts
218 NorChl6'"-St
Dated April 1. 1320
$30,000,000
The B. F. Goodrich Company
Five Year 7 Convertible Gold Notes
Authorized and Issued, $30,000,000
Due AprQ 1, 1WJ.
Interest parable April 1 and October 1 at Bankers Trust Company, New York
Coupon Notes. $l,CO0, $500 "snd $100 denominations, registerable as to principal onlv. Redeemable at option of the
Companv on anv interest date, .is a whole or in part, upon sixty dajs' notice, at 103 and interest on or
before April 1. lft?3; at lOi and interest after April I, 1923, and cm or before
April 1, 1924; at 101 and interest after April 1, 92i.
STOCK PURCHASE WARRANTS
The Mutes carry detucluible Warrants entitling the holder to purchase common stock at ?80 per
share, at the rate of '2A shares of stock for each ?1,000 par value of Notes. These Warrants may be
exercised at any time to'and including March ill, 192U, or, if all Notes are earlier redeemed, to and in
cluding the redemption date.
CONVERSION PRIVILEGE
At anv time after March 31. lOHi., until maturity or earlier redemption, the Notes are convertible at
par into common stock at ?S0 per sharp, but only if accompanied by the Warrants originally attached to
such Notes or by other Warrants aggregating the same number of Bhares.
Hankers Trist Company, New York, Trustbe
1
4 letter from Mr. hi. '!. Wnrk. Prrtiriritt of The B. F. Goudrieh Company, to whtch rrfarmcr, in
mute, ts summarized m lollnv
PLANT AND BUSINESS
The B. F. Goodrich Company and predecessor organizations have operated contmoouuly since 1870.
The Company nses approrimatpjy one-sixth of the crude rubber brought to the -world's markets. In ad
dition to automobile tires, it manufactures a complete line of robber products. Net Bales hnve increased
from $39,509,346 in 1913 to $123,470,187 in 1918 and to $141,343,419 in 1919. Additional plant capacity
vill be brought into production during thin year, and the business should then exceed $200,000,000 per
annnm. Indications are that the demand this year will be substantially in excess of the Company's pro
duction capacity.
PROVISIONS OF ISSUE
Thesp Notes are the direct obligations of the Company, which has no other funded debt.
The Trust Indenture, among other covenants, pi-ovides in substance for the maintenance of cur
rent assets of at least InO'o or all obligations including thesp not, but excluding purch ruse-money
nbligations having more than onp year lo rnn and resp.rvcs for Federal taxen until such taxes become
n fixed liabilhy. and against inning further notes or mortgaging or pledging real or personal prop
crtf, except for borrowings in the iimal course of business and maturing withiD one year and ex
cepViri connection with pnrchaj'p-monpy obligatioris on prorxTty hereafter acquired.
PURPOSE OF ISSUE
The proceeds of this Note i.-Mie will be used to increase the Company's working capital, required
by its glowing businettJ. aud will be applied to reduce its current liabilitic?.
FINANCIAL
("uviti" effect to this Note issue and to the reduction of current liabilities from the proceeds thereof,
the ha lame sheet as of December 31. 1919. would show total liabilities, including these Notes, of less than
$37 000 000. in contrast with current assets of ?85,874,000.
' Net profits available for interest during the flvo years ended December 31, 1919, averaged $14,217,00(1.
After providing for Federal taxes and interest actually paid, the average earnings were $11,149,000. The
annual interest on these Notes is $2,100,000.
vomge earnings available for dividends during tho five years ended December 31, 1919, were equiva
lent to $13.75 per share per annum on the 600,000 shares of common stock now outstanding. The present
dividend ratp lb $0 per annum
EQUITY
Thcsp Notes are followed b $.JM r..lMMl par value preferred stock aud ti00,000 .shares no-par-value
common slock, which, at present quoted prices, hnve a i-ombineti market value in excess of $76,000,000,
J It tttal matlrt a rmnetto wit, tku i Jeuni ln approved by oourutL
Price, 98 '4 and interest, to yield more than 710
Stock Salesman
Investment Banking House has
attractire opening for stock sales
man who can furnish proper cre
dentials. C 304, LEDGER OFFICE
Fine Exchange and Accountancy
necessary ifor young man to
locate with large maniifacturing
concern. Address
C 326, LEDGER OFFICE
A S FEDERAL INCOME TAX EXEMPT ONP
AT 98 AND INTEREST. YIELDING 5.25
$600,000
City of Birmingham, Ala.
5 Gold Bonds
$500,000 Auditorium Bonds Dated Dae. I, 1919
100,000 Fire Dept. " " April 1, 1920
Dua Dae. f, 1929
April I. 1930
Principal and semi-annual interest June 1st and December 1st, payable in gold at the
Hanover National Bank, New York, N. Y. Coupon Bonds with privilege of
registration as to principal and interest, either or both. Denomination $1,000
Exempt from all taxation In tho Stata of Alabama
Eligible to secure Postal Savings Deposits
FINANCIAL STATEMENT
Assessed Valuation, 1910 $106,574,558 '
Total Bonded Debt (Incl. this issue) .... $9,036,500
Less Water Bonds $155,000
" Sinking Fund 792,970 947,970
Net Debt $8,988,530
Value of property owned by city, $5,336,880
Population 1910 (U. S. Census) 132,685
" 1919 (City " ) 231,577
BIRMINGHAM, the Metropolis of Alabama, is one of tho most Important steel centers
in the'world and the largest manufacturer and shipper of lumber products In the entire
South. Its many other industries aro diversified. Excellent transportation facilities
aro afforded the City by 10 railroads. The population of Birmingham has increased
75 during the last 9 years.
Z.egaf Opinion of John C, Thomson, Eq.
Having sold a large part of the above bondt, we offer the untold balance
tubject to prior tale.
I
Definitive bondt will be ready about April 12th
Send for circular L-90
R. M. GRANT & CO.
Boston
31 Nassau Street, New York
St. Louis Portland, Mo.
Chicago
The data and statements in this advtrtisemtnt icere obtained from official rtporta or art our opinion, lasei
upon tnformalion irifcli too rcoard a reliable, and, tcMIe they are not auarantccd.
vie believe, them to le correct.
Y-
fiffai
warn
Total Net Assets
After Present Financing - $9,600,000
CAM.
Founded 1893
Surplus, 1919 - $4,200,000
Bankers Trust Company
New York
Guaranty Trust Company
of New York
Goldman, Sachs & Co.
New York
. i ..tm,entt ml fltrurcs presented herein, 1nt tliey sir taken front sworces which we bell
We do not r-ar". - w .te.
Additional $1,000,000 Issue
H. H. Franklin Manufacturing Company
(Franklin Automobile Company)
1 CUMULATIVE SINKING FUND
PREFERRED STOCK
At Par . - - $100 per Share
Callable at 110 on 60 Days Notice
Dividends to Accrue from Date of Issue
Payable February 1, May 1, August 1, November 1
Capitalization
Upon Completion of Present Financing
Preferred Stock -
Common Stock
History
The H. II. Franklin Manufacturing Company has b:cn
under the same management since its organization in
1893. It began the manufacmre of the Franklin Car in
1902. It owns all capital stock in the Franklin Auto
mobile Company, the selling organization.
Plant
5,000 employes. Yearly payroll, 7,300,000. Floor
space: 1918, 16.5 acres-, 1919, 23.4 acres; 1920,
planned and under construction), 34.5 acres. The
largest industrial concern in the city of Syracuse, N. Y.
Production
1916 . . . 3,836 cars
1919 . . . 9,177 cars
1920 (scheduled) . 16,000 cars
Prospects
Unfilled orders on books January 1, 1920, amounted to
3,194 cars; March 13, 1920, 3,901 cars, despite a nearly
doubled production. Estimated that the planned increase
will be insufficient to meet the demand.
Authorized
$5,000,000
$2,000,000
Outstanding
$3,500,000
$1,858,700
Asset Value
. Protection for each preferred stock share outstanding
December 31, 1919, as shown by the audited balance
sheet, 5640 in net assets; 5231 in net quick assets.
Sinking Fund
To begin Jan. 1, 1922, consisting of 15$ of net earn
ings of preceding year, after payment of preferred stock
dividends and taxes. To be used for retirement of pre
ferred stock, at Company's option, and to buy in shares
which stockholders may desire to sell.
Covenant
There shall be no mortgage or bond issue placed with
' out the consent of the holders of at least 75$ of the
preferred stock, excepting purchase .money mortgages
given at the time of purchase of additional real estate.
Earnings
Average yearly earnings for past five years, after depre
ciation and taxes, were four times the dividend require
ments on preferred stock outstanding including this issue.
1919 net earnings were at the rate of seven times these
requirements.
Circulars and Subscription Blanks on Request
H..H. FRANKLIN MANUFACTURING COMPANY, SYRACUSE, N. Y.
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