t . i
y
V
'.
"
'
v. , J '
-:T'
V -VfV
4'
(
I -
'
iA
mm' '"
fir f ' .j
EXCEEO.ABOR'S
EVENING PUBLIC
iIedgee-
PHIEABELPHIA', -FEIDAY, MAY 7, 1920
Study
in Profiteering In ,USS.
Industry
Presented by Rail
road Brotherhoods
'-WAR-MADE" MILLIONAIRES
i
UV (he Associated rrct
. ...i... inv 7. A study of
JSlSWh American Industry, made
'SC the auspices of llio railway
! la.rfcooiR was presented to the rnjl-
bod today In Wrt of the
r0?,l., t Iters' demands for. liWier
fti.'d labor costs arc responsible for
hi hlsh cost of living.
pnrcd bv W. .T. Tzanck, former
Vt ??If 7i. nr labor board, the
li ffiVccks lo show that profiteering In
I ra.;. .. i he fundamental cause for
MA prices In virtually all com-
ppport that contention.
, rilllne attention to the many war
J, millionaire?, the study contends
Jkil a tlirrc fold relationship exists
'Wee" high prices, profitccrlne and
the addition to the quota of million.
ilr,," and that the Incrcnsc In the
KMll'h of the wealthy Is an "unanswer
:u. refutation to nil nttompts to
attempts to hold labor responsible for
the high cost of living.
"Fof, If Invested wealth gets a
larger icturn," says the study, "n
larger proportion of the national In
come than formerly, the man vho gives
'personal service or labor Is bound to get
a smaller proportion. The menace of the
future lies In the probability that tho
vast profits which nro still held In re
servo will be capitalized in order that,
under the pretext of a fair return on
capital, those who own them may con
tinue to take the larger proportion of
nntlonal Income, even at the expense of
very grent suffering on the part of the
workers, when the -overstimulation of
war has passed nway."
Of the extraordinary Increase In the
p'rleo of sugar, now amounting to 300
tier cent, the study says, the Increase in
labor" cost paid by the consumer was
less than 15 per cent. The result of ad
vanced prices, necording to the quoted
reports of twelve companies producing
over half of the sugar consumed in the
United Htntes was pictured In tho, net
pinfits of these concerns, which It was
said rose from nn average of .$11,000,
000 during the years 11)12-11)1 to $31,
000,000 for tho years 1010-1018.
In, tho meat-packing industry, where
profits were said to have Increnscd be
tween 300 and -100 per cent, the labor
Item was shown so small that a wage
Increase of 100 per cent would ndd less
thati" 5 per tent to the total cost of the
meat. The Increase in price betwecu
1014 and 1018 was shown as eight times
tho total labor cost and the 11)18 price
represented twenty-flvo times the total
labor item.
Profits nbsorb approximately ono-half
tnc retail price oi certain kinds of clotli,
the report declared, while the labor Item
amounts to from onc-fouctecnth to one-
rtirje labor with profiteering, and to all twentieth of the price. Similar rcla-
PENN
NATIONAL tANK
Comptroller's Call,
May 4th, 1920
ASSETS
Immediately Available!
Cash and Reserve $2,918,080.51
Kxclianges for
Clearing1 House 280,397.69
Duo fropi Corre
spondents 273,632.34
Eligible Taper bis
countable i u
Federal ltcscrvo
rtank ., 10,122,234.73
l" S. Certificates
and Bonds .... 756083,66
$14,351,378.86
Other Loans & Discounts t
Due within 30.
days $2,523,608.76
Due 30 to 90
days 482,650.00
Duo after 90
days 1,871,696.77
United States and
other bonds .... 1,117,195.00
Banking House... 266,000.00
$20,611,489.39
LIABILITIES
$13,122,743.95
Deposits
Due Federal Be
serve Bank . . ,
circulation
llcserve (Taxes)
Capital Stock...,
Surplus & Prof.
Its P
3.674,725.00
150.000.00
J09. 108.65
1.000,000.00
2,55"4,911.79
OFFICERS
M. G. BAKER
Preaident
TV. B. WARD
Caahler
If. C. BEITZKI,
Aaalatant Cashier
K. It. HEIRS
Aaalatant Cashier
H.G. roMiEjrus
Aaalatant Caahler
DIRECTORS
Samuel 8. Pliarp
Chairman of Board
Wlnthrop Smith
John F. fltoer
Abram C. Molt
Tlalph II. North
flrellet Colllna
Evan G. Chandlee
Melville G. Baiter
Edirln I,. Blabon
Irvine Kolin
William 8. rilllnjr
William L. Turner
$20,611,489.39
"ALWAYS COMMERCIAL"
W. B. WARD, Cashier.
Market at Seventh
tlons voro pictured lu the manufacture
of men's garmcntB.
Shoes, according to tho study, "fur
nished n splendid opportunity for the
profiteer." Tho profit items In 1014, It
was charged, absorbed nearly one-half
tho price paid by tho consumer, or
nearly three times tho total labor cost,
while in 1017 the profit items amounted
to approximately three-fifths of the
total price and over five times the total
labor cost.
Increoscs In tho retail price of bitumi
nous coal wcro shown ns four times the
increase In labor costs, while the pro
portion of the proceeds of the industry
received by the coal operator was shown
as increased from 75 to -100 per cent.
I'rolltecring did not stop with Hit
armistice, tho report declared, present
ing figures to show that corporation
profits In 1010 were 110 per cent over
the pre-war average, which mrnns. the
study 'added, that 1010 profits were
moie than double thu average for the
years 1012-10M.
An average of $1200 per family of
five during the years 1010-1018 was do
claretl to be probably a highly con
servative e.stlmnt9 of tho actual cost of
corporate, profiteering to the consumer.
Aged Woman Hurt by Motorcycle
Struck by n motorcycle, nt Uroad nnd
Heed streets last night, Mrs. Madnllne
Hose, seventy-four years old, 1-107
South Thirteenth street, received cuts
of the forehead and shock. She was
treated by a nearby physician.
Felix Up. Cnntllcc. a nrero. thlrtv-
slx years ,old, North Klfty-Bcvonth
street, who was driving the machine.
was held upder S100 ball for a further
hearing Mny 14.
FOUNDED 1(14
National Bank
of Germantown
PHILADELPHIA
May 4, 1020
RESOURCES
Loans and lineaments. .. .$6,794,335,43
nun from liank ... . 527.970.83
Cash nnd Resene. .. 828,924.83
Customers' Liability Under
Letters of credit .... 49,626,00
Total, $800,857.09
LIABILITIES
Capital Stock .$ 200,000.00
Surplus and Net 1'rcflts. . . . 726,904.76
Unearned Discount .. 49,498.39
Circulation . ... ... 192,000.00
Deposits ... .... 6,012,827.04
Due federal itcsere uauk,
T.ann rinrl ttnvcrnmAtit
Securities 967,000.00
Liabilities nnd Letter of .
Credit .... 52,626.00
Total, $8,200,870)9
JOHN C. KNOX, Cashier.
J
I
CHARTER
No.l
THE
TOAST BANK
ClIArCTBRED
unobrthi
natiohAl
BANK
ACT
Ilc
THE! GIRARD
NATIONAL BANK
PHILADELPHIA
Mntenient of Condition nt the CJoae of Boalneas .Mny 1th. 1920.
RESOURCES
Loans and Investments $70,336,039.20
Accrued Interest 190,944.70
Acceptances and Letters of Credit 6,889,554.28
Exchange for Clearing House 1,994,711.17
Due from Banks 15,729,055.04
Cash and Reserve 5,524,89128
. $100,665,195.67
LIABILITIES
Capital .$2,000,000.00
Surplus and Net Profits 7,030,163.11
Reserve for Unearned Discount 318,776.15
Reserve for Taxes nnd Interest 348,713.55
Circulation . . '. 1,053,100.00
Acceptances nnd Letters of Credit 6,889,654.28
Government Securities Borrowed 1,135,000.00
Duo Federal Reserve Bank
Loans' on Government Securities 12,384,740.00
Commercial Paper Rediscounted 1,285,100.00
Deposits ' , 65,220,168.58
$100,665,195.67
OFFICERS
JOSKIWI WAYMS, Jit., President
Kian Itandnlph, Vice I'realdent Alfred Hnrrntl, Aaalatant Cnahler
A. W. I'lckford, Vice I'realdent David J. Myers, Aaalatant Caalilei
Clmrlea M. Askton. C'aaliler Walter I. I'reucli. Aaalatant Caabler
DIRECTORS
ritANOIS n. ItKEVKS,. Chairman of the Hirfrd
Daniel Dauch Francla II. Iteevu, Jr. UUIUm Ju.V Turner
Itodman K. Orl.com Win. V. Fracter, Jr. A. J. County
VF. Frederick Snyder tJeorce D. Rnae ntarteo Win. I, Ilnrba
Itobert Toland Joaeph Wayne. Jr. Walter 8. Thomaon
S m. Nnwliold Ely llviin Itandolph A. A, Corey, Jr.
John Grlbbel MorrU It. norkloi K. It. SI. Carpenter
Arthur V. Morton
Coal Mine
Management x
If you are financially in
terested in coal properties
Vou should investigate the
ervice we offer you.
Changing industrial con
ditions make efficient
supervision more essen.
tial than ever.
Peabodymanagement ser.
vice has been of great
benefit to many owners
ol coal mines.
P" is a highly special.
yza organization operat
ing thirty.six bituminous
mines in eleven fields with
nual capacity of
18,000,000 tons.
It is the result of thirty.
Vcarsofexpericnce
mmlning and selling coal.
" b matltd on uquttt
EABODY COAL CO
CHICAGO
1 bIIIPBmIZSbSS
1 EfiUOATjONAIj
IWh Sear
ra4nat.
""iffi "! w Crajli buaioai.
.LlA,nN WIRELESS
Sf8, M0 m?n.,rov5.r1nnh Uot.a for
'" n"J i, Cherry 8ti.. Phn.
Fftnrk P
?-ImIB.mISI!p tutu JTT
jiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiinMiiiiiiiprr x iiiiiiiiiiiiiiiiiiHiiiiiiiiiHiiiiiiiiiiiiiiiiiiinnnr
INCORPORATED 1803
The Philadelphia National Bank
Philadelphia, May 4. 1920
RESOURCES
U. S. Bonds and Certificates of Indebtedness $3,068,350.00
Loans, Discounts and Investments II 3,336,370.5 1
Accrued Interest Receivable 286, 1 26. 1 1
Customers' Liability Under Letters of Credit and
Acceptances 20,r84,484.53
Due from Banks 25,315,81 1.09
Exchanges for Clearing House 6,803,493.83
Cash and Reserve ....'...'..' 9,485,363.29
$178,479,999.36
LIABILITIES
Capital Stock $5,000,000.00
Surplus and Net Profits 1 0,676, 1 09.60 $ 1 5,676, 1 09.60
Unearned Discount , 780,399.75
Reserved for Taxes and Interest 84 1 ,6 1 0.9 1
Letters of Credit and Acceptances 21 ,378.048.52
, Domestic and Foreign Acceptances Sold 21 ,454,003.95
U. b. Bond Account
Bills Payable and Rediscounts with Federal Reserve
Bank
Individual $70,834,850.07
1,617,000.00
15,463,270.00
( Individual $70,834,850.07
DeDOSlts Bank 29,318,485.22
F I U. S. Government 1 , 1 1 6,22 1 .34
101,269,556.63
$178,479,999.36
LEVI L. RUE, President
CHARLES P. BLINN, Jr., Vice Pre. WM. S. MADDOX, Vis Pre.
HOWARD W. LEWIS, Vice, Pre. HORACE FORTESCUE, Vice Pre.
O. HOWARD WOLFE, Cashier
First National Bank
- of Philadelphia
315 CHESTNUT ST.
Condenaed report at close of bualneta May "1, 1920.
RESOURCES
Loam and lnve.tment. $42,691,831.12
Cuatomera' Liability Under Letter of Credit
and Aeceptaneea 3,702,399,02
Intereat Earned but Uncollected 42,974.58
Due from Banka 8,974,363.70
Exchange for Clearing House ,1,904,443.31
Cash and Reserve 2,986,619.42
Total . . .-. $60,302,621.15
LIABILITIES
Capital $1,500,000.00
Surplus and Undivided Profits 2,486,801.16
Interest & Discount Collected but not Earned 138,894.63
Reserved for Taxes, Interest, etc. ........ 651,701.17
Acceptances of other Banks sold 1,401,729.82
Letters of Credit and Acceptances 2,402,669.26
Re-discounts (Federal Reserve Bank) 2,614,560.00
Bills Payable (Federal Reserve Bank) 11,299,000.00
Deposits 38,038,276.11
Total ; . . .$60,302,621.15
WW. A. I.A.W. Prealdmt
KKVrON WARM;. XWr l'ra. HARnY 4. HAAS. Vice I'ra.
TIIOH. W. AXDItEW. Cnlilr
CIIAS. II. JAMr.H. Aaat. Cnaltlrr CAM. II. CUM'Vr.V, Aaat. Caali.
HOWARD II. SORDON. Aaat. Caah.
diiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiifiiiiiiiiiiiiiiiiiiiuiiiiiiiiiiiiiMiiiiiiiiinitf ,:;
No Old Fashioned
Set Rules
of banking at Second and Chestnut.
The "Corn Exchange" handles in a
constructive way each individual
case after careful tudy and investi
gation. ' HUtcmcnl on May i, J-0
RESOtnCKS
Ixan and Incat
m-iita jnCiOS, 000.81
Iana on Oovcrn
mrnt Oblliratlona .. 14,9it.2274
Due from Ilankl U.UlO.lUI.Ui:
(Jlearlnir Houae Kx
chanteK 2 f.."r..1SD.R')
Caah and Reams.... 0,047,710. HO
Cuitomera' I.Ubllltr
Under letter of
Credit and Accept
ance. 0.700,393. 70
K5. 821. "07.03
I.IAIIIMTICS
$ 2.00.000.00
and Net
Capital
Hufplui
I'ronie
Untamed Discount. .
leere for Tx.. .
circulation -. . . .
Depnelta
letter of Credit and
Accptaneea,
RxitlacountH with I en-
eral Heaenc Dank.
4,nio,rr,o.2i
aoj.tr.i. 2
2r.4,r.7i r.i
infi.ooo.oo
49.140,020 08
0,001.420.17
12.031,330.11
$75,321.707 03 s
r
UIRECTORH
JOHN I. MurDONAl.D
WILSON CATHHrtWOOD
WM. I.. 3yPPT.KB
THOS. .1. JBI'Fnir.H
.lOSCim H. TARVIN
WM H. VX)LWBT.t..
WALTER A. HA I LIST
CHAR. 8. CAIAVCLb
1RANK H. M083
or.o. w ii nonERTs
.MBRRITT N WIJ.LIT8. Jr
f.OUIH R. TAOB
WM. II. HARniiifJ
daVid o. iikaui.ut
pau1.4thomp80n
ira vauohan
alan u. wood
I'. IV. Ajer
Clis. H. Chllil
.toaepli 8. Clark
lVallnn Clark
Crrun II. K. Curtla
DIRECTORS
I'rnnltlln D'Oller
William P. fieat
I). C. IrTlD
l.ltlncaton G. Juoea
William A. Law
.loaenli R. MrCall
I'rriTk MrOwm
I. Henry Seattercnod
.1. W, Vni tlTk
orncF.ns
N. WILLITS.
Vice-Pre aidant
CIIAS. S. CALWELL.
Prealdenl
x
Jr.
TH09. J. JBPTR1ES.
Vlee-Prealdent
NHWTON W. CORSON
Caabler
ALLEN M. JIATTHEWS
Asit. Cashier
ALUERT N. HOGO.
Aait. Cashier
EDWARD T. JAMES
Aatt. Cashier
EDWARD J. TAUL. Aast Caahler
CHARTERED By CONGRESS 1781
JJ NATIONAL BANK 1864
is BANK of
North America
30rCfiestnut Street
' REPORT OF CONDITION
Philadelphia, May 4th, 1920.
RESOURCES
Loans and Discount $26,708,080.72
1 Corn Exchange National Bank
PHILADELPHIA ,
Chestnut at Second
nMiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiii
Due from Banks and Bankers . -.
Cash, Reserve and Clearings House Exchange . . .
Customers' Liability, Account Acceptances and
Letters of Credit
Interest Earned Not Collected ., . .
5,229,087.96
4,720,485.82
374,321.70
99,771.08
Total $37,131,747.28
LIABILITIES
Capital $1,000,000.00
Surplus and Undivided Profits 2,404,190.26
Circulation 485,197.50
Deposits 24,426,952.85
Bills Re-discounted Secured by U. S. Securities. . 4,071,140.00
Rjeserve for Taxes and Interest 58,480.18
Accepts. Executed and Letters of Credit Issued . . 374,321.70
Bills Payable 4,200,000.00
Unearned-Discount and Interest 111,464.79
Total $37,131,747.28
OFFICERS
v.. pi;si:y iwssmohi:.
S. JUKINLliV, Vice 1'rea. V. ".
W. J. MURPHY, Aaa't Caahler
I'realdent
KIIOMKR, Caahler
C M. l'KIXCE, Aaa't Caahler
J. W. TVIIITIG, Aaa't Caahler
DIRECTORS .
Lincoln K. Faaamore
John W. I'earce .
John V. Green
George Falea linker, 31. D.
N. Myern Filler
riirlatiuii C. Fehlcer
J. Howell Cummins;
IV. Terey Hlmpaon
Waller II. Roaamailer
Charles II. Dunn
Horace L'. Smith
Hurry N. Uhrrt
Kiltruril F. Ilenaon
Therou I. Craiie
Cirahame Wood
W. Klrklnnd Ilnler
William J'. Html, Jr.,
Charles O. Alexander
Leonard T. Ileule
Marvin A, Neelnnd
Jumea I). C. Henderaon
Walter Krhen
V., 1'uaey rnaamore
a i
GeorGe Wood
Alfred C. Harrison
Levi L. Rue
George H. McFadden
Randal Morgan
Samuel Rea
DIRECTORS:
Pierre S. duPont
Asa S. Wing
Samuel M. Vaudain
William H. Donner.
Wallace D. Simmons
Samuel D. Warriner
Eldqdge R. Johnson
J. Howard Pew
J. Kearsley Mitchell
Henry G. Brengle
S. P. Hutchinson
G. Colesberry Putvm
Third National Bank
In 'the Center of Things
Opposite Broad Street Station
i 1 , Ft,
STATEMENT
At Close of Business
May 4, 1920
RESOURCES
I.ouiih and Invest
ments . . . $10,592 407.70
Due from Hunks and
Hankers . . . 1,133,506.06
faBli and Uesene 1,314,357 14
r-jxuiiunKH lor
Clenrlnc Houae .
Interest Knrned, net
Collected . .
S58,45C,32
3S.2S5.S9
$13,634,012.11
LIABILITIES
i t, 000,000.00
,
Canltal Stock .
SurnlUH and I'ndl
vlded Profits. Net,
rienerved for T,xea
Unearned Discount
t'lrculntlon
11111s Panble to
Federal Heaerve..
United mates Bonds'
Borrow ed .
Deposits , ..
4S.S90.S0
in nun in)
44.134.S0
138,200.00
1. 60S. 000.00
4,000.00
9,480,7811.51
ornoi:its
l.eula l(, DUU, rrea
O. Ilrlnlon Itubrrls, Mie Prrs,
IV. Clifford Wood, Cashier
Wm. T. Tomllnaon, Aaa't Cashier
Uaymoad R. Hoaworth, A. Caahler
Uerberl 8, WWte, Asst Oashts
it 9, MnatlB. Ass't Caihltr
Trank !
I.ewla It.
Jarob B.
$13,634,012.11
IIIULCTOItM
Crofl llumhrrl II. Powell
Dirk H, Ilrlnlon Itnbrrts
Dlsalan Kdgar II, Blow
Oamne) V, Iloaston W, I.eMar Talbot
Joseph J. Martin Lonta M. IVatoar
Hamilton Dlsstt
THE
CENTRAL NATIONAL BANK
OF PHILADELPHIA
CHESTNUT ST. AT FIFTH
Close of Business, May 4, 1920
Loan and
reatmenta .
Cuatomera' Lia
bility under Let
ters or Credit
Outatandlnc ....
Kxrhanie for
Clearing Houae..
Due from Hu.iLa
and Hunker. . . .
ASSETS
ln" $25,542,163.76)
268,531.95
922,889.70
3,418,548.31
Cash and Reserve 2,457,290.78
$32,609,424.50
LIABILITIES
Capital $1,000,000.00
Surplus and Un
divided Profits
(earned) 4,319,150.31
Dividend No. 11?
Payable 31 a y
611 60,000.00
lteered for Taxes
Unearned Dlarauut
and UrureilatloD.. 282,045.70
rirrulntlon 55,000.00
Letter of Credit
OuUtamllnc 268,531.95
Loans I'rderal Ile-
serte Hank 1,366,000.00
Rediscounts
Federal Re
serve Bank .. 3,527,300.00
Deposits 21,731,396.54
$32,609,424.50
OFFICERS
J. RHOADS
CHARLES
STANLEY E. WILSON,
Aaalatant to Preaident
A. D. SWIFT.
Caahler
WILLIAM POST, Chairman
Preaident
DAVID R. CARSON,
Aaalatant Caahler
ALBERT H. ASHBY,
Aaalatant Caahler
Executive Committee
(IKORC.i: lll'RMIAM. Jr.
tt'ILLIAM MOOD
CIIAKLF.S WIIKKI.KI.
CHARLES K. IM3ERSOLL
A. A. JACKSON
SAMUEL SI. CLR1VEN
DIRECTORS
tLAItLNCi: M. IIROMN-
STKVENN 1 1 IX KXCIir.lt I
WIMtY I). ANDKKIVH
4. IKTON TOIVNSID
C. IltUII'K C STOUT
HENIAMIN RUSH
IIILLIAM TOST
CLK-MENT II. NE1VIIOI.D
C1IAKLE.S J. ItllOADS
CHARLES E. MATIIKK
TENTH NATIONAL BANK
1 TT
Philadelphia, May 1th, 1920.
RESOURCES
Loans and Investments $2,750,354.21
United States Securities 1,789,240.70
Exchanges for Clearing: House. . . 191,979.54
Due from Banks 182,138.19
CASH 372,002.47
$5,285,715.14
LIABILITIES
Capital 300,000.00
Surplus and Profits 233,638.43
Dividend '. 9,000.00
Circulation 191,795.00
Bills payable with Federal Reserve
Bank secured by United States
securities IHEOO.OO
DEPOSITS iWSiJi
limmmMEfj .
$5,2111715.14
John F. Bauder, Pres. Herbert L. Shr. CttVier
ft
,tff '
4 '-
v -tt-i
it
... i.'iVi
. .01
,n
!
v
".'I
;a
D
M
r
t:
f1
, '
V
.
,, -i'-sJL43&21l&aLi.ij- 4a
amBWBHUJIll
-t. ' ". , 'wa? ik i,i ?jk?t
1
t
A: fMtuiJi.
Z
AiL
M t
tW. wu . f m - I s
a-
J'a
'rt
.r
Awl
A 1 a ' ....,,!: I t ,
f7 . -r. .7 .aM V
V ( t
ff, ' vgi,l.
" ,-r ,-' ji,,.,. '1 i , iJtMi.ii'i ii-'