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EVENING PUBLIC liBb'aEBr-PHILADiaLPHiA, WEDNESDAY, MAY 12; 1920
21
T3T1V ?t''
$5,000,000
Southern California Edison Co
General and Refunding Mortgage
Twenty-flve-Year Six Per Cent Qold Bonds
DUE FIB. 1, 1944
t
Price 88b and Interest, Yielding 7
Tax Exempt In California
t lasuanca authorized by the Railroad Commission of the State of California
The Company agrees to pay Interest without deduction for any Normal Federal
Income Tax up to 4, which It may lawfully pay at the source. Under the present
law the Company will pay the Z tax deductible at the source.
The following information is taken from official sources:
The Southern California Edison Company supplies electric light and power to
over 150 cities and towns, including Los Angeles, serving an area of 65,000
square miles and a population of over 1,000.000. The generating plants operated
by the Company have a total installed capacity of 302,430 horse power, of which
158,920 is derived from water power.
Both the gross and ne't earnings of the Company arc more than four times those
of thirteen years ago, For the year ended March 31, 1D20, gross earnings were
$10,906,893 ; net earnings were $6,037,599, or more' than twice the annual mortgage
bond interest charges of $2,816,900.
The Company has paid dividends on its common stock since 1910, the present
rate being 7 per cent.
We recommend these bonds for Investment and shall be pleased
to send on request a circular describing the Issue In detail.
Harris, Forbes & Co
Philadelphia New York
The National City Co
Philadelphia New York
E. H. Rollins & Sons
Philadelphia New York
Our Service is Not Measured by
the Size of .Your Bank Balance
ALL our customers receive the same
J- quality of service. Do not hesitate
to bring your financial problems
to us, even though your account is a
moderate one.
Commercial Trust Company
City Hall Square West
Member Federal Reserve System
fejbA
It II rr- II
hi is rcw - r II
HI il "Jut?" J - i II
HI !r . ""Ss.-j fr: II
Ul -jw. bMT5"ZZr t II
Hi Mil u'. v. . . If
HI R jEJ iir"'" u II
8 .tvIi!- k -ZTT II
1 I' n-,,"t!!wrr- i? u II
R K 'w-:L!!.-'. II
9 IS s?'H--r,"u,-Zr-u II
IH ?---. . " u If
W -"&!2i :r!- II
I If ii","-li- J-r- L .. II
If 3rff
Increase your knowledge nf
bonds write, call or tele
phone for the above book, a
copy of which tvill be scut
' you without charge or
obligation, upon request for
hokletP.U.
Increase Your Knowledge
of Bonds
Even though a consistent bond buyer,
there may be some points about bonds,
concerning which you desire more com
Dlete information. If an investor in other
lines or a beginning bond buyer, you owe
it to yourself to become fully informed on
the merits of this increasingly popular form
of investment.
Both experienced and inexperienced bond
buyers will, therefore, find our booklet,
herewith illustrated
" Bonds Questions Answered
Terms Defined"
of interest and value. In its twenty-six pages are
discussed the questions which our extended ex
perience has shown are those most frequently asked
by bond buyers. Its contents also include non
technical definitior" of the most commonly used
bonds terms.
HALSpY, STUART & CO.
INCORPOAATID-SUCCHSOaS TO
N. W. HALSEY 4 CO., CHICAGO
; LAND TITLE BLDjS., PHILADELPHIA
TELEPHONE! LOCU8T 48J0
CHICAGO NEW YORK BOSTON 3T, LOUIS
j DETROIT MILWAUKEE
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G1VESH0PEFULN0TE
A. J. County, of P. R. R., Re
views Conditions Following
Return to Owners
ECONOMY IS A NECESSITY
i
Atlantic City, May 12. A. J.
County, Tire president of tio Pcnn
B.vjvnnin Hnllrond Co.. nddreiwd tho
Hallway Accounting Officers' Associa
tion nt its annual meeting at the
Hotel Traymore today, on "Where thn
Ilnilroads Stand in the Spring of
1020."
He warned that, while the railroad
rate and railroad wage questions might
tend to nit pome of the unrest, which,
ho said, was the fruit of "higher wages
paid in the industries and a labor short
age," too much contentment should not
bo expected following a great war and
in a presidential yeur.
The general present position of the
rnllroads has undergone considerable
chuiigo as n result of their passing
from federal control on February 20,
1020, Mr. County told his hearers.
With the low earnings and until rates
aro adjusted, he said, much Improve
ment could not be expected. New wage
demands, higher coal costs, due to nn
increase of 27 or more per cent in wages
uv-i tutu, Uuu u i'iuiuim; 01 nn lucri'lisc
of taxes in almost every municipality
nnu state, were enumerated nmonir the
.obstacles.
As essential to overcoming physical
difficulties, which he described as tho
greatest that had ever confronted tho
railroads. Mr. County said capital
expenditures and purchases must be
very materially restricted until capital
Is more plentiful nnd cheaper, and until
the roads first can charge rates that
will bo reasonable for tho service ren
dered, and cam n fair return upon tho
value of the property In tho public use.
"Now this condition should be
promptly and squarely faced," he said,
"nnd should cause no timidity and no
public complaint. Every nation in the
world, whether nctively engaged in the
war or not, has had to face that situa
tion by rate Increases, compared to
which ours will be very moderate."
lienelicfal features of the new trans
portation act nrc listed by the speaker.
These included the finding of carriers'
obligations appropriations for capital
expenditures, etc., guarantee for six
months, the railroad labor board, de
scribed ns the "stabilizing feature" of
the act.
Amendment of the interstate com
merce law by the transportation not
was criticized in its authorization of
consolidation.
That tho railroad Investor's position
as a whole has been improved was the
conclusion of Mr. County's exhaustive
discussion of his subject, but, he said,
"no overnight miracles must be ex
pected." SPANISH RaUT TRJBESMEN
Regular Troops Advance Nine Miles
and Capture Two Towns
Madrid, May 12. Spanish forces
fighting in Morocco have advanced
nine miles ngainst rebellious tribesmen
and have occupied the village ofTlazla
and tho mountain of Klulacha. General
SUvestre is in command and has
10,000 troops nnd many airplanes.
Ono non-commissioned officer was killed
and four soldiers wounded in recent
fighting.
Melllla advices say a column com
manded by Colonel Casademunt, being
unable to enter tho town, went into
camp near Mount Tamasusl, which was
captured by Spanish soldiers Saturday.
During Sunday night natives attacked
tho camp, but wero repulsed by ma
chine gun fire which killed twenty of
tho attacking forces. On the Spanish
side efght Askaris were wounded. Two
airplanes dropped fifty bombs on enemy
villages near Melllla and Colonel
Casademunt's column entered Melllla
without further opposition.
BESSIE M'COY DAVIS HURT
Ex-
Follies' Matinee for 8alvatlon Army
A special matlnco of "Zlegfcld Fol
lies" will be given on Friday afternoon
at tho Forrest Theatre for the benefit
of the Salvation Army. The complete
performance will be given, the entire
company having volunteered their serv
ices, through tho courtesy of F. Zleg
fcld, .Tr., and the Forrest Theatre Co.
11
A Business
Bank
Your bank should bo
an important factor in
the building of your busi
ness and a very real help
in tho solvlnsr of Us daily
financial problems.
The Rervice of the Continental-Equitable
has
been of inestimable value
to many prominent Phil
adelphia business men,
and continues to aid them
each day. Because of the
active directorate and
adequate and competent
supervision by officials
themselves, tho Continental-Equitable
is the
bank of, by and for busi
ness men.
COKntTCNTAITQUnaSaEJ
Twelfth Above Chestnut
Philadelphia
Capital $1,000,000
Surplus $1,000,000
Over $11,000,000 Deposits
m
JiiiiiiiiiiiiillllllllllillllilllllllillllllllllllllliiiiiTinMnl
Brooks Steamship Corp. Stock;
25 Steamships Aggregating
115,000 Tons Dead Weight
DIRECTORS: Amos D. Carver, Pierpont V. Davis, F. "
Bradley Cox, B. T. Nolan, J. Markham Marshall
and Sheppard G. Schermerhorn.
SUBSCRIPTIONS to the no par value Capital stock
received subject to allotment at $25 per share.
EARNINGS, present basis, stock expected to pay $4
per share annually.
MARKET, to be traded in on the New York Curb, appli
cation later to list on New York Stock Exchange.
Full particular an requttt
Champ C. Brown & Co.
Membart Phila. Stock Exchang
Real Estate Trust Building, Philadelphia
Bell Filbert 4011
Ktj atpne Bc 1S7B
Increase Your Income
8 Interest
First Mortgage Security
An investment of $520 uvill now pur
chase a first Mortgage railroad bond,
face value $1000, paying $40 per
year income. This bond is a first
closed lien on the main line of a
great railroad system and because of
present unsettled conditions is avail
able at a discount of 42 under
price at which it ' was originally
issued in 1905. This is a seasoned
and well-secured Investment.
Particulars on Request
Carstairs & Co.
Investment Securities
1419 Walnut Street
PHILADELPHIA
Member Philadelphia, and
New York Stock Exchanges
71 Broadway, New York
Dancer Tears Ligament, but Is
pected to Return Tonight
Bessie McCoy Davis, who is starring
in the "Century Midnight Whirl" at
the Sam S. Shubert Theatre, tore a
ligament in her right kneo whilo danc
ing ot the opening performance of tho
show Monday night nnd is confined to
her room.
Mrs. Davis is the widow of Riebnrd
Harding Davis.
According to the ma
Davis's iniury la not serious, nnd while
she did not perform last night and is
not expected to appenr at today's mat
ineo performance, the attending physi
cian believes that she will be well
enough to perform her dancing features
tonight.
SHERIFF WANTS NEW SYSTEM
Ordinance Providing for Office Reor
ganization Is Introduced In Council
Complete reorganization of the sher
iff's office is provided for In nu ordlnuncp
introduced in Council yesterday by
Francis F. Burch, chairman of the
finance committee, at the request of
Sheriff Robert E. T.nmborton.
The measure, which becomes effective
July 1, if adopted, adds approximately
$-1:1,000 to the nnniinl payroll of the of
fice. Increases will be made In most
salaries, numerous positions will bo elim
inated and n number of new positions
created. Tho present bonus system is
to be abolished, in so far ns it npplles
to the sheriff's office, and n flat rate of
pay substituted.
Youth Seriously Hurt by Truck
ICmll Basel, eighteen years old. 2'JOO
Oukdole street, is hi the Women's
Homeopathic Hospital In u serious con
dition as 11 result of being struck by
an autotruyk this morning near his
home. Hirt right leg was fraetured."
The driver of the truck, Swan It. Dp
Costa, li:7 South Thirteenth street,
was arrested.
Milk Street Trust
Boston, Mass.
For Trustees and Conservative
Investors desiring- a Tax Exempt
7 Investment secured by Real
Estate In the Financial district
of Boston.
Income fixed through Ions term
leases uncommonly favorable to
the Trust.
Frlce $100 per aliare, yleldlnr 1
Special circular on request
Fairman & Company
Drexel Bldg., Phila.
Eitnbliahed 1902
rra a miiini iiiiuiiinirti
4P
Pacific Fruit Express
Equip. 7s
Various Maturities
N. Y. Central Equip. 7s
Various Maturities
nagement. Mrs. Canadian Pacific Equip. 6s
Various Maturities
Active Markets in All
Short Term Notes
MECownfcCct
I-ocuatBlOl Land Title Bldg. Bace 414
iiiiiiiiiiiiiiiiir.iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiir.H
Valuable suggestions
for investors
If you have idle funds, send for our latest Bond
Letter. It contains a carefully selected list of invest
ments picked for their safety and high yield.
If you are interested in investments, write us and
we shall sec that our monthly Bond Letter reaches you
regularly.
West & Co.
1417 CHESTNUT STREET
Members
New York Bteck Exehaue
Philadelphia Stock Exchange
We Alwaya Hava en Hand a LUt of High Grade Bend E
Correapendance Invited
j7lllllllllllllllllllllllllllllllllllllllllllllllllllllllHIIIIIIIIIIIIIIHIIIIIMIIIIIIIIIIIIl7
Low Bond
Prices
High prices for commodities mean
low prices for securities. Are you
taking advantage of the opportunity
offered by present conditions to buy
sound bonds yiedling abnormally
high returns?
Wo have prepared a Circular Letter
No, 2420 on this subject, which we
will send, on request.
Bonbright & Company
437 Chestnut Street, Philadelphia
New York Boston Chicago
Detroit
GEO. A. HUHN & SONS
BTorns and nnvns
Member of the Philadelphia. Ne
York and Chicago Stock Gxchancta
New York Cotton Exchanca
Commlnlon Orders Executed In
All the Principal Markets
DKLLKVITK COUnT DLDO.
141S Walnut St.
NEW YOK OFFICE)
111 llroadwajr. New York
I
'Jllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllltl'jf
May 12, 1920.
We tako pleasure in
announcing that
Mr. J. Miller Frazier
has become associated
with ua on this- date
West & Co.
1417 Chestnut Street
Philadelphia
IS Wall Street
New York
..!.... ! New York Block Uxchanae E
Members ( Philadelphia Block Exchange
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Frederick Peirce
IIONDS JP INVEST-
roil X- VU. MKVT
1431 Chrttnut Street. Philadelphia
WorkmcnY Compensation ana
Automobile Insurance
' At Actual Cost
LIBERTY MUTUAL INSURANCE
COMPANY
'.0 South FiftfUh Street Philadelphia
TO OPEN PLAY STREET
win
Ten Safety-First
for Children
Be First of
Playgrounds
TIih first of n group of play
streets throughout the city will lie
opened tonight on Marvinu street be
tween Dninbriflffn nnd Fitzwuter.
It will bi dedicated with hpeeinl rx
orelfces, Addresses will bo made by Di
rector Tustln. of thn Wolfurii Depart -
fhicntj Miss Sophia Robh, chief of the
bureau ot recreation, nntl ".Miss Hiiiety
rirfit." of the Rapid Transit Co. Music
will be given by" the Polico Hand.
For the summer it is planned to start
ten play streets where children may
romp without fear of danger from traf-
free distribution a detailed circular
Information :
, We have for
1 describing
READING COMPANY-
and its Associated Companies,, copies of which will
'be furnished on application.
Discussion:
Ve ahnll be glad to discuss the posaible poaition oi securities
bf the Reading Company nnd its subsidiaries with holders of
(he same. I
HARPER & TURNER
Investment Bankers
' 1000-1012 Stock Exchange Building
Philadelphia
Branch Offices at Scranton and Reading, Pa.
CONDENSED STATEMENT
Haddington Title and Trust Company
OF PHILADELPHIA
6014-16 Market St.
Close of Business May 4, 1920
RESOURCES
Cash and Reserve. . $524,616.43
Loans and Invest
ments 2,430,460.11
Office Building . . . 52,822.25
Vaults and Furni
ture 20,021.35
Accrued Interest.. 44,148.05
$3,072,959.09
LIABILITIES
Capital $126,000.00
Surplus and Profits 114,025.85
Accrued Interest.. 17,711.66
Bills Payable 100,000.00
DEPOSITS 2,716,221.68'
$3,072,959.09
WILLIAM GIBDONS, President. JAMES W. MacBURNEY, Tress.
City of Sao Paulo
UNITED STATES OF BRAZIL
6 External Secured Sinking Fund Gold Bonds of 1919
Al fucil jjent for the Municipality ef Slo Pjub, we are prepared to
receive oflerinp of the above bondi a taimt the tint aemi-annual Sink
inj Fund Paymentbythe city. BondaupteMSiOOOwUIbepurcluMj
at the lowest price offered up to and Including May 1 5, 1910.
IMBR1E &. CO.
NEW YORrt
Chicago Bottom Pittoturgh Atlanta KanasaCltr MUaraufcse $t.tl
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