n ' ' rv " .V. . " Fti
"a
i
V .
' "j
I . I'
,
.i a
rr
Bonds of
Foreign Nations
Wo havo prepared an inter
esting booklet describing In
ternal Loans of
FRANCE
BELGIUM
ENGLAND
ITALY
which can bo purchased today
at prices to show American
Investors a possiblo proflt'of
from 20 to 338.
"Ask for Booklet L 00
A. B. Leach & Co., Inc.
InvtHmtnt Banker
116 South Fourth St.
Financial Briefs
. 7ho. ,ay"a8 Price of twenty active
Industrial stock advanced. 1.44 per cent
yesterday to 07.20, -wlillo twenty rail
roads ndvanced 2.97 per cent to 74.98.
Net prollts after tftxei of tho Al-lld-Chalmers
Manufacturing Co. for tho
quarter ended March 31, 1920. were
1767,214, equivalent, after charging off
preferred dividends at tho rate of 7
par cent per annum, to $1.84 a share
earned on the $26,000,000 common slock,
against $760,760, or $1.85 a nharo, on
tho $26,770,760 outstanding common in
tho preceding quarter and $996,024 In
the corresponding period of 1919.
The Standard Qas and Electric Co.
rOTREWIRS
Valve seat planed In potitlon
and.nevr valves furniihed. All
kind of engine repairs.
rhone Wat. 1814 and Main 3414
w ZI2-2223.DARIENST.
isjno ' wsm$ asMffiw-Btf -mat
18
In the year ended "December
returned the largest irurplu
lury. jnis iiem amaunica. wi av.Vi f,
the equivalent of $7.07 a shire earned
31. 1919,
In Its his-
This Item amounted, to, $962,647
or
on tho $12,493,134 .common stock out
standing, which compares with $766,306,
or, $8.34 a share on the $11,784,960 pre
ferred stock, in tho preceding year,'
The New York Stock Exchange -has
admitted to the list Butte Copper and
Zlno Co. capital stock. There has been
stricken from the list Butte Copper and
Zlno Co. voting trust certificates. Sub
stituted on list: Barnet Leather Co.
permanent engraved certificates for- 7
percent cumulative preferred stock and
common stock without par value in lieu
of temporary certificates.
The Now York Subtreasury gained
$3,206,000 from the banks yesterday,
making a cash net gain since Friday of
$10,836,000.
Liverpool Cotton
IJverpoot. April 27. Thero was only
a limited request for spot cotton today
with prices firm on tho basis of an ad
vanco of 95 points for middling at
?6.iua. bales were suoo Dales, Re
ceipts were 26,000, Including 21,600
bales American. Futures wortf firm In
tho early dealings. Spot prices were:
American, middling fair, 31.90d; good
middling, 28.6Sd; fully middling-. 27.66d;
middling. 26.40d; low middling. 23.10d;
good ordinary, 19.90d; ordinary, 18.90d,
WHY no investor lias ever
lost a dollar of principal
or interest on any security '
bought of S. W. Straus & Co.
VIII
5r
Demand Location Earning Power
THIS is a fundamental truism of the Straus Plan of safeguarding
first mortgage bonds. We will not accept a real estate borid
issue unless the mortgaged property is located where real
estate values arc stable and constantly rising and the permanently
assured rental demand exceeds the supply. In actuajl practice we
apply this principle as follows :
We underwrite loans only in the larger cities of the country, thus
affording well diversified investments, each backed by the pros
perity of one of the nation's active business centers.
The neighborhood must be in the direct line of the city's develop
ment, thereby assuring stable real estate values and an active and
continuous rental demand. " A
The building must be suited to the actual rental demands in its
city and its locality. r
It must be new, because a new building naturally is always
preferred by tenants and will be at the height of its earning power
and its value throughout the life of the bonds.
This system of selection makes it certain that every first mortgage
bond issue, safeguarded under the Straus Plan, is secured by a pros
perous and productive property whose rental earnings and value
are -assured and certain.
We are now offering an exceptionally wide variety of well diversified
bonds, secured by properties located in New York, Chicago and
. other large cities, from coast to coast. Net yield, 6 with 4
Federal Income Tax paid. Call or write for our current offerings
today, and specify
CIRCULAR No. 316-Q
Airn
' t k-r iaw m.-v kt : jvi
ESTABLISHED 1882 INCORPORATED
STOCK EXCHANGE BUILDING, PHILADELPHIA
Joseph H. Rubin, Resident Manager.
NEW YORK CLEVELAND BUFFALO SAN' FRANCISCO
CHICAGO BOSTON MINNEAPOLIS MILWAUKEE
DETROIT WASHINGTON PITTSBURGH INDIANAPOLIS
Thirty-eight years without loss to any investor
x-
LONDON STOCK MArtKET
Profit-Taking In Home Ralls Trad'-.!
Ino Lacked 8nap
London, April 27. -Under forced It,,
quldatlon oil shares were weaker on
tho stock exchange today. Shell Trans
port reacted on an oRlclal denial that
tho government la acquiring an Interest
In 'the company., The stock was quoted
at 10 13-16. Mexican Eagles sold at
.
There -was profit-taking In home rails.
Canadian Pacifies uroro higher. In sym
pathy with New York, and Grand
Trunks wero good.
The gilt-edged section was hard. Gen
erally, the markets were checkered and
trading lacked snap.
Briar Hill Steel Stock Dividend
YouniitowD, O., April 27. Tho Briar
Hill Steel Co. declared a stock dividend
of 20 per cent on tho common stock,
payable July 1 to stock of Record Jupo
20. A special meeting of stockholders
has been called for June 1 to approve
Increase In common capital from $17,
000,000 to $60,000,000 and to dlsposo
of 26,000 shares, par $100. of unissued
common stock. Stockholders will also
be asked to voto for declaration of a
stock dividend which, together with 20
per cent dividend already authorized,
will more nearly represent at par tho
value of the company's property, and
to authorise directors to set aside 30,000
shares of common stock for subscription
by employes.
NEW YORK COFFEE MARKET
Now York, April 27. The ronrkct for
coffee futures opened irregular this
morning, with prices two points higher
to five points lower. Wo continued to
case of? and this tended to check any
rising tendency here.
Outsldo speculative interest for coffee
is at a very low ebb, and continued un
settled Brazil markets, particularly n
sagging market, at Itlo, with heavy re
ceipts, loaves the local market open to
operations from ,the bear crowd. Longs
do not hesitate in reducing their lines
at every opportunity, having gotten out
of the May delivery entirely without
switching to later months.
Just before, midday, tho local market
was dull and trading at a standstill,
with quotations about at. tho initial
price level.
Mar .....
July ..;..
September.
December
Teat.
cloie
14.S9W
14.764J78
14.60051
14.474J43
(N.
Today's
open
14.D0W83
14.70078
14.4B04R
14.40043
T. time)
IS
noon
14.27
lV.4543
14.42
Prices Steady on Paris Bourse
Paris, April 27. Prices were steady
on the Bourse today. Three per cent
rentes, 67f 50o: oxenango on London,
64f, 80o; 5 per cent loan. 88f 70c The
dollar was quoted at 17f 8c,
i
SAFE
PROFITABLE
INVESTMENTS
Frazier 6- Co
BROAD AND 8AN80M VT
PHILADELPHIA
11 SOUTH ST BALTIMORE
65 BROADWAY. NEW YORK
Commonwealth P. R. & L. Co.
Pfd. DIv. Scrip j
Portland R. L. It P. Ca. i
1st & Ref. 5s, 1042
BANKERS
321 Chestnut St.. Philadelphia
lftmoer Ktio York and PhUaitlphla
Block Eqchanoti
?$R9 Issue
$2,ooo,oory
Acadia Sugar Defining Company
LIMITED
HALIFAX, CANADA
First Mortgage 7 Serial Gold Bonds
Dated January 1, 1920 , Due $100,000 each July 1, 1921-1940
INTEREST payable on the first day of January and July. Principal and interest
payable in New York funds at the Now York Agency of the Company or at the
office of the Trustee in Montreal. The Company agrees to pay the Normal Federal
Income Tax not exceeding 2, and to refund the present Massachusetts and Pciuv
aylvania State Taxes and also the Connecticut State Tax up to iS.
AcADIA Sugar Refining Company is an old
and well known Company with a modern plant
at Halifax, N. S. The plants and property of the
Company, on which these bonds are a first mort
gage, have a present value after depreciation
of $4,206,000 as appraised by the Canadian
Appraisal Company.
The management of the Company will be
under the supervision of Mr. B. A. Oxnard and
associates, who have had long and successful ex'
perience in the sugar business, and who, jointly
with Imbrie & Co., founded and have success'
fully managed the Savannah Sugar Refining
Corporation.
Conditions for sugar refining in Canada are favorable, and we believe
that the common stock of this Company will be valuable.
Boricte to carry Common Stock, Price to net over 7
Imbrie & Co.
NEW YORK
CHICAGO
BOSTON
PITTSBURGH
ATLANTA
Kansas crrr
MILWAUKEE
ST. LOUIS
Thl Information and thete Utttrica are not guaranteed, bat ttav beat obtained ftem ttmrcea believe to be accurate
" :
jl JT.liWX.-tA .,j&kl.t.i:'Jr'A?l.'&d$''.' .., n isMtoZ- rv.il!
New York Bonds
' tSALES 7N tlOOOJ
From a r. M. Until ttU V. iS.CS. T. Time)
Via T T Si
Alk O M ev A
I IB '.4
Amr Snult'u
. Rer B
1 VM,i
I..... TO', i
2 TO
A,TlftTl r.ll
2 73 H
n 7
A Tel A Tel Pa
S....V 11 4
4. .J.. 774
A Tel 4 Tel 0
l....; sou
1 3U
3 BI'A
Am W rp Ta
1 81
Arur-French Est
S8U
0MH
98
08 U
91) V,
,08H
99H
08
00
PI)
08
HSU
98 h
80.
a.
21.
1.
4.
10.
7.
8.
0814
98U
08 U
08 li
08U
8U
9S!4
B8K
98 W
98i
OSk
08K
08U
47
10
a
l
Armour 4tta
..... 79
Atch T ft Bin
r U
1 70
1 71H
A T & T CV 4s
of '80
T8 to
Atl C Line clt
S 01 '4
3 01U
Bait b Ohio cv
0 C04
2 SOU
2 00
n eo
10 60
1 60
B & Ohio 3 '.4 8
1. ... f)li
2 SOU
4 80
2 81W
11 81
11 81
2 8l'i
Bait & Ohio 4a
1 E8V6
8 C0V.
Bait A Ohio Be
3 89 H
7 60 Vi
Bait fc Ohio 0a
84 U
84 U
83
8.1
85 U
85 H
85 U
85
85 y,
85 14
86
85 T4
85 i
85 V
85 Vi
S.Vi
85 U
85ti
85 M
85 U
85
85
I.H
11.
2v . . .
45....
2....
10....
10....
10....
8....
11....
10...
5....
15....
10....
6....
3.1....
15....
5....
10....
10....
10...,
50....
7....
D X: O
IWVSjl 4
7..... 64
Bat A Ohio 8
Wea V.J 8U
1 70
2 70V
2 70W
B & O Tol 4s
1 45
1.. .. 15
Beth Bteel fd
1 83
1 82
2 82
Beth Steel 1st
2 89
B Steel Ba '36
1 79V
Brlc IlJFt 7a
l....i'40Vi
Brlc Rap Tran
7a ct ata
2 40
Bush Tetm lat
1 70
Cenfl Too lat
10 00 U
10 60
5 06J
u oo li
Cent Pao 3 Via
1 78
Centr'l Pacific
.Short L. 4a
1 5'i
Cent'l R II of
N J 8a
2 P0H
1 06H
2 l'fti
2 00ii
C A O ov 4ia
4 00
2 CO
C& Alto'n 3 Vis
2 33
32 Vi
7. .. . .
10,....
5
3i
i
20
13
0.....
10
19
10.....
17.....
1...
0.....
Den A II CM fd
1 45 U
2 4SV4
2 45
1 45U
Den A R O 4a
1 604
Det Tun 4 Via
10;.... 73
DCm 0 '21
10..... 09
0..... 9St
1...W 06U
D ot Can '29
1..4.. 3H
i ev
1 93U
1 93,
10 92
D of Can '81
a 90V.
1 90V4
Dom Rep'o 5e
8..... 83
Erlo 0nl Lien
1 41Vi
Erlo RR cv A
1 39
3..... 85
2 33
Erie RR cv B
3 35
7 85
Erie RR cv D
11 88
3d 38
0 38
Erie R lat en
0 00 UJ
Erlo Fa 4s
12 74
10 74H
1 74
7 74'
Oen'l Eleo 6a
2 98
1 00
llock'a V 4 a
0 04
Una. A Man In
2 21
1 21
14 21
Hud ft Mn4
4 64
111 Central fd
5. ... 88
111 Cent 4a '33
1 07
III Seel Co 4V4
1 70tt
Imp J Gv lat
4 70
10 70
0..... 70
2 74 V,
1 70
Imp J Qv 2nd
25 70
8 75
15 74
2 75
. 73
. 75
. 741;
Or 4a
. 50
. 50 v;
1 59
IncVa Steel Bs
8 00
Inter Ust4a
0 17
In'o Rap T fd
2 53
18..
a..
70
74
74
76
75
75
75
75
74 ?i
74 i.
8 82
8
rIlm 4U
l
B
!
8
2a)t)a)
Oaa
renn'. n n6i
! 6 3 '-4
Pera Mar't &
2a 81
Phiu Co'y cv
2a.... 88
Pub fler Corp
or N J St
4 eou
ruadinv n 4
10
7aia
laa
i
0 ,
4(....
10
IB. ....
15.....
10.....
5
B;.. ..
1 ...
8
7e
18.
10
10
4
80
80
80 li
80 li
81
80 U
80
81
81
81
81
81 Vi
81
81
81
82
82
82
82
82
82
82
81
81
81
81
80
80
R 3a
81
Readlnc
B
Readlnr Co 1
Cent Col 4s
1 87
IB 89
5 89
8 89
a soli
&.. 89
nodiv Clt 4a
4 49
8 49
RI A At.4
2 01
2 01
1 61
1 01
3 01
4 61
1 01
1 01
SlilUS'ti
R 82
9t L I U ft B
R ft O DV 4a
04 Vi
3..
St I. ft 3
1
NEW YORK BONDS (Continued)
8 88 1..... 98 Vlr'a Carolina
UBMeileo8s 6...... 92 Chem Co 1st
2..... SlVi I..... 92 ...... vt.
On Ban Fran 1 92 Wesln Eleo i5s
MCt 1 98 I.....
1 23I 1 93 Wesi-n u mm
V B Realty Bs 1 03 10 49
1..... 80 1 03 wtsnori.
8 80 1 93 3 OT
81 1..... 93 2 OT.
5 81 5 98 Wla'n Cent 4a
US Rub'r Bs 0 92 1 2
2 92 l. ....
1 92 Wilson Co 1st
2 92 2 89
.1 92 1..... 89
1 93 Wilson Co cv
O RR Inv Co 2 89
of S r Bs
1
1
1
!
i
i
a a
V H Steel As
1 98 U
81
HI',,
81
82
81
82
82
07
08
Today's Range In
Liberty 3i ....
Liberty let 4s....
Liberty 2d 4
Liberty let 4Ua..
Liberty 2d 4s..
Liberty 3d VAs...
Liberty 4th iyta.
Vic Notea 3918.. .
Vic Notes 4?i8...
nish
03.81
85.no
85.00
80.4-1
85.08
00.00
80.00
00.80
00.78
Liberty Bonds
(N. T. time)
1:16
Low
0.1.10
85.50
85.40
80.10
85.80
00.30
85.88
00.42
00.33
j.m
03.18
85.C0
85.70
80.40
85.00
00.00
85.00
00.80
00.70
American Woolen Report
Now York, April 27. Net profits of
tho American "Woolen Co. for 1910
amounted to 116,613,416, less reserves
for taxes and contingencies, according
to tho annual report Issued today. Pay.
ment of dividends of $2,800,000 on pre
ferred stock and $3,200,000 on common
and depreciation of $3,733,611 left a
balance of profit for tho year of $15,
779,804. Surplus for 1919 amounted to
$12,029,804, which added to that of 1918
brings the total surplus to $31,764,426.
BAR SILVER
Bar" silver was quoted In London to
day at (Ed, down 4id.
25....
2. . . .
a....
Imp J
7....
CM B A Q 4s
1 04
1 94
7 04
2,.... 91
1 93
23 94V1
10 04 'i
1 04 "j
1... . 01 i
Cli It Q Xeb
! 10 M)',
Chesk & O cv
74 U
Ches A O 4s
2 11U
Cbes'k A Ohio
cv 4a
1..... 69
2 .... 09
Ch A O cv Ss
2 74
1 75
C A O Wn 4s
1 01
Chi M A St P
D 4a
2.. .. r.s
1.. .. 03
' rh mii t m r
1 fU 4-i
5. . 5B't
Ch Mil ft St P
cv 5i
3 63U
5 03
2 00'i
2 3S
8 03
5 01
C R I ft P fd
1 63
Chile Cop'r 0s
3 70
11 76
Chile Cop'r 7s
1 5 100
I 1 100,
'. 2. . . 100
, City Bord'x i.
1 88
I City N Y4n 51)
1 83
, flty NV4 Vi 03
2 04
City Paris 6a
53
53
53 Vi
63
63
53
53
03
80 ,
M)Vj
8J
, 891-i
811".
W
60.
M
80
10
1
1
Kan C ft S 3s
2 01
Lack Steel '23
1 03
2 93
Lack Steel '50
8 . 89
L S M S 4s 2S
4 son
2 81Vi
L ft Myera 6a
1 81
LAN Mono 4a
3 60
2 60
Lorlllard C 7a
1.... 100
Mid S A O 6s
8 81
Missouri K C
ft Tex 4s
2 84
2 84
Mis Pao cm 4a
1 52'.
1 53
1 52
2 52
N T Air B 6s
2 06
3....; 90
Naw O Tex A
Mexico 4a
2 01
N T C A II R
R RBa
1 64
1 64
N Y C ft 11 R
R R 4s
2. . . 7.1
.-.. . 73
.V. 73
N V C ft H R
R R 6a
2,.... SO
2 89
89
89
89 U
89
89
89
89
80
89
6....
5....
25....
1....
1....
04
KaJ
68
88
88
68
67
58
68
57
50 57
St L ft S V in
10 43
8 44
10 43
1 43
Bt L A 8 Fran
Series B
1 65
St L ft 0 Fran
Serle A
2 53
2 54
7 53
2 63
33
63
53
63
63
53
53
53
32
53
53
62
62
1...
20...
20...
12...
50...
11...
1..
8..
2..
12..
40..
1..
St L ft S Fran
Series C
1 81
'.' 84
St L S Y,n en
2 51
3 51
StL 8 Wn 1st
1 62
1..... 62
2 62
2 62
1 61
St L S Wn 6a
2 64
2 54
St I M ft M
Mont
2 70
Seab'd A L a J
6 84
B'n Pacific cv
11 76
S'n raelfln fd
2 71
1 71
3 71
3 71
1 71
1 71
(S'n Tae cv 4s
13... 73'.
F'n Tuc cb
Edward' B.Smith &Co
ESTlMJSnro 1892
BANKERS
Vembtra New York and PMlaiclshto
Stock Exchanges
1411 Cur jin ct Sracir, PnrtADixrnu
30 Tim 8Tiir.rr Nrw Tobk
6
Exempt from All Federal Income Taxes
Municipal Bonds at Pai
To nain dtscrlpliit circulars cut ihU out ant
nail loimy trilA your name mad oddrtu u
The Hanchett Bond Co.
Incorporated 1910
i9 South La SalU Strut. Cnlamgm jg
P..ij1t.U Hi-p C B. ROBBIM3
iH Perry DU., Hulaaelp Ida TeL Spruo S$i
Publlo SerTlce of N. J. rtpt. 6s
V. O. I. 6s. 1921
Caddo Central Oil ft Bfjr. 6s. 1930
Hr-tdlnr Terminal 6a, 1941
I'hlln. Rrndlnc Intended 5s. 1933
Allegheny Valley Gen. 4a. 1942
HENRY D. BGENNING & CO.
STOCK EXCHANGE HUH.DINO
Dlrett FrWat Telephone to New Totrk
Members Fhlla. Stock Cxcbans
WANTED
FINANCIAL MAN
Ar.istant to Treasurer In lrte-etab-llshrd
corporation. Mld'He-ased man with
banUlne experience preferred.
MORTON R. ALEXANDER
nilLA. STOCK EXCHANGE ULDO.
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
161B REAL ESTATE TRUST Df.DO.
Inveatlxate and adja.t partnership and
corporation account. Aloo prepare C 8.
Income Tax Returns.
10.
1
1.
1.
4.
6
City Tokyo 5.
0 37
Colo S'n Pis
1 70
J 70
2.. .. 70
Con.'d Oa. 7.
II 100
2... 100
Copenh'n 0.
2 70
Cuba C Bus cv
1 98
ill"!
1
N T LUht II
ft Power 4a
1 01
N T LlBht II
ft Power 5s
1... . 74
2. .. 74
N York New H
ft Hart'd 0s
2 68
NYC L8 3
1 ... 55
N Y O ft V
cm 4 s
1 50
N Y Rya ct 5s
5 U
N Y Tel's 4
2 73
5 74
1 74
S Y Tel'n 0s
1 .... 110
N ? W C ft H
R R48
1 30
NrfolU ft W 4s
68
r t)8
Norfolk, ft W
cv u
1 .... 97
a . 97
ft. . . II"
1... . 07
N'n Paclflo 8s
I. ... 51
6..... 31
4 51
3. . . 51
1 51
N'n Pacific 4s
9 ?(V.
N'n Puc 4'ja
2 71
20 71
Ont I'ow Nlas
ralli 5s
1... . 82
O ft Cat H 6s
2 .. . 87
0-Vaeh'n 4.
1. .. . 01
I'-n a ft K 6s
75
!)!)ia
99
99
09 i
99
90
90
1
1
4
3
4
1
10...
2....
1...
Son Rail's 4a
1..... 05
& 65
65
66
65
50
50
50
55
50
2.. . 60
S'n Rallys 6s
1 78
4 7
Texas Co fls
Third Av R ni
1 24
6 104
Union Pao fd
1... . 09
a 69
Union Tsc cv
14 82
Union Tnc 4s
1 79
Union Pac tfs
1 98
2. .., 98
5 98
UKODI'Sl
6 95
10 95
1...,. 05
R 05
1 05
u k o n ft l
rcta of '22
1 oa,
1 93
2 03
1... . 03
u k o n ft i
rets ot '20
91
91
t
01
91
00
91
U lv G B I '37
3.
29. .
23.
3..
24.
10..
3.
10..
25..
2..
8..
1..
(-0
S0
86'i
87
87
80
80
80
"The Best
Book of
the Year"
Free to anjr man who
is interested in the mar
ket and who wishes to
know
Tho General Rules of
Trading.
How to Give a Broker
Instructions.
Bro'kcrs' Commission
Charges.
How to indorse a Stuck
Certificate.
How to Use Collateral in
Trading.
How to Group His Invest
ments. The Deposit Itetiuircmcnts
for 'Carrying Stocks on
Account.
The RiglUs of Stock and
Hond Holders, etc.
Written in simple language
and easy examples given.
No obligation. Edition lim
ited. Call, phone or write
at once.
Ask for No. T. U.-87S
JONES & BAKER
SECURITIES
Widencr Bldff., Philadelphia
rhanti Hell, Walnut 6065
Keystone, Race 2290
Direct Private tf'ires
Office in 8 Principal Cities
ARKANSAS GAS MELON
To Retire Proferred and Bonded In
debtedness by. Stock Allotment
. rittsborsli, April 27, Tho board of
directors of Arkansas Natural Gas at
n. meeting; yesterday unanimously re
solved to rctlro'fll! of Its preforrod stock,
amounting to $2,366,000, and all of its
bonded indebtednoss, amounting to $2,
333,000. Tho preferred stock will bo re
tired Julv 31, 1920, and tho bonds will
bo retired November 1. 1920. In order
to accomplish this tho directors au
thorized an Issuo of Its common stock
equal to CO per cent of the present hold
ings of tho common stock and preferred
stock, this stock to be allotted to tho
stockholders of record Juno 1, 1020, and
tho payment for tho tamo to bo mado on
or before July 31, 1920. ,
This plan will allot to each share of
common Btock now outstanding the
riirht to subscribe for an additional one
hnlf sharo at the rate of $10 per share,
and to each sharo of preferred stock,
of the par vnluo of $100 tho right to sub
scribe for Ave shares ot tho common
stock at tho rato of $10 per share. The
plan will retire all of tho secured In
debtedness and preferred stock of the
company, leavlnir outstanding; only tho
common stock. At tho same time It docs
not Increase tho capitalisation of the
company, which will amount to about
$13,600,000.
American Stores Big Year
For tho year ended December 31.
1919, the American Stores Cq. returned
a surplus, after charges and federal
taxetr of $2,480,617, equivalent, after
tho deduction of preferred dividends and
slnklntr fund to $12.79 a sharo earned
on the 142,240 shares of common EtocJc.
compared with $1,263,625, or $3.7G a
share In 1918.
Gross sales In 1919 agrrciratcd $76,
401.889, against $62,316,466 in the pro
ceding year and $68,123,807 In 1917.
Cost of iroods sold amounted to $63,
378,896, leaving $13,022,996 In gross
rroflt on sales, which compares with
10,296,696 In the year before. A re
servo of $1,296,400 was mado during
tho year for federal and state taxes,
compared with $1,086,186 sot asldo in
1918." Preferred dividends and slnklntr
fund totaled $629,173, after which $1,
830,444 remained for the final surplus.
Gold Withdrawn for fte-uYM'
New Tork. Anrll 27. rl
nlno hundred thousand ttoThtrS.ai .
coin has been withdrawn from ;iM :
treasury for shipment to South AMI
1 r""
31
9ES!MSSI!BS&3aVall
Rmmlnllon PUnt, BildnrtnJcemo.t
Urn Work; Eddjttono, Pt.- Com,,
pletelj built ond oqulppodln 4mcnihm
American Industrial
Roofing .Tile
Completed roofs, not just
tile. American Industrial
Roofing Tile in your speci
fications means that we
deliver the roof only when
finished and actually cov
ering your building. .
Our roofs meet every In
dustrial requirement4 ',
beauty, permanence, pro
tection, low cost. Ask
your engineer. Write foe
"Data Sheets".
r American
(JementTileMfeta
824 Oliver Building, PitUburh
60 Church Si. 801 Otl. BM.
Nw York Philadelphia
509 Brown-Marx Bide.
BIrra Indiana
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H. H. Franklin Manufacturing Co.
(Franklin Automobile Company)
Syracuse, N. Y.
7 Cumulative Preferred Stock
Additional $1,000,000 Issue
?
a
9t4
,t
.Price $100 Per Share
Dividends accruing from date of issuo
arc payable
February 1, May 1. August 1, November 1.
Dividends Exempt from Federal Normal
Income Tax.
After depreciation and taxes, earnings for
t past five years averaged four times the divi
dend requirements on preferred stock out
standing including jthis issue. In 1919 these ''
dividend requirements were earned over
seven times.
For Circular and Subscription Blanks address
H. H. Franklin Manufacturing Co.
Syracuse, "N. Y
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cTVIoney earning 8 II.
ill when invented in the Preferred Stocks of manufacturing t
III companies earning jevcral times their dividend require- III ;
Ijj rneaa, is vnuiy sad tafel inveited. Ill j
jll Especially vrhea there esiit the added ssfegnirds of H .
HI ca ample linking fund and no bonded indebtedaett. II
HI We htvt tareally ultctid Hst I
PREFERRED STOCKS
I tvhtch tee can recommend U the j
l tnsit ccntervative investor. III i :
' ' 2'IELD1NG So i I j
I' ai 'or Toiit.i .o r r. l air I
Hollistei-.Wliite '& Go. ' ! !
eoorto. Ill ( f J
I North American Building i
nf BOSTON' PHILADELPHIA NEW YORK lj
NEWARK SPRINGFIELD PROVIDENCE PITTSFIELD PORTLAND
Bald
win Fame World-Wide
Ticrcvcr Uioro are rnilways, Baldwin locomotives are
known. The first Baldwin locomotive was built in a
little shop in Lodgo Alley, near Eighth and Market
Streets. Today, the works covers over nineteen acres
in Philadelphia and nearly six hundrod acres at Eddy,
stone, and normally employ over 20.000 men. The more
than 53,000 locomotives built to date are advertising
Philadelphia, the leading American Manufacturing City,
in every part of tho world.
The Baldwin Locomotive Works
Acadia Sugar Refining Co.
First Mortgage 1C Serial Gold Bonds
Bonds to Carry Common Slock. Price to Net Over
Circular Mailed on Request
to
ROBERT CHERRY, JR., & CO;
Members Philadelphia Stock Excltaityc
113 South oth St. Philadelphia
U. S. Liberty Bonds
All Issues
Bought and Sold
$50--$100$SOO$1000
CkAHAM. Parsons &Ca
US CHESTNUT STREET
Philadelphia
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