tlW 3?i'$ffit !$$ W'i'txi', n:: &! ",'fA- T ! 'V "MAY ly'1920' '. : dj: ? ."Wr'ffY, - , V;-' ti. i . 'V yMMFBrf; K 1 ' $850,000 Canadian Wesjtern Steamships, Limited ' s Vancouver, B. C., Canada , First Mortgage 7 Marine Bonds Dated January J 5, 1920 Denominations $1,000 and $500, y "' ' Montreal Trust Company, Trustee Principal and semi-annual interest (January 1 5th and July 1 5th) payable at The Guardian Savings and Trust Company, Cleveland,' Ohio, in United States gold coin, Bonds payable without deduction for income taxes up to 4 ft. Tax refund- in Pennsylvania MATURITIES . i $ 1 28;000 January 1 5, 1 92 1 $21 2,000 January 1 5, 1 923 " , 2 1 2,000 January 1 5, 1 922 1 70,000 January 1 5, 1 924 1 $128,000 January 15, 1925 From the letter of Mr. J. J. Coughlan and from other information we summarize as follows: SECURITY: TKe .bonds are secured by a.first mortgage upon an 8800 dead weight ton steel cargo vessel now in process of construction. The loan is at the rate of about $96 a ton. The contract price of the vessel, without including any builders' profit, is $1,250,000. ADDITIONAL The bonds are further secured by a first mortgage upon the ship SECURITY: building plant of J. Coughlan & Sons, Limited, Vancouver, B. C, where the vessel is being built. This plant has four combination ways, ship shed, plate, machine and boiler shops, mould loft, fitting-out berths and, in short, the equipment necessary in' a modern plant. The plant is worth in excess of $1,000,000. The mortgage upon it is to be released when die first ma turity of bonds, aggregating $138,000, is paid, provided the boat has then been completed and accepted. The bonds are further secured by the guarantee of J. Coughlan & Sons, Limited, the builders, who have a net worth in excess of $1,000,000. This Company has successfully built ten ships for the British Government and four for the Domin ion Government The guarantee becomes inoperative when the second maturity of bonds, aggregating $212,000, is paid, provided the boat has then been com pleted and accepted. The payment of the first and second maturities will reduce the loan to $510,000, or at the rate of $57, a ton. VESSEL The vessel under construction will have Lloyd's 100 A-l classified- PROPERTY: tion, will be 427 feet long, 54 feet beam, 29 feet deep and will have a speed of 11.5 knots an hour. Its power plant will consist of three Scotch boilers and of triple expansion engines generating 3,000 h. p. INSURANCE: The trust deed provides adequately for insurance as follows: (a) Upon the material that is to enter into the vessel and upon the vessel itself during construction; (b) upon the completed vessel against all marine risks to its full insurable value, namely, $1,500,000, and never in an amount less than 125 of the then outstanding bonds; (c) protection and indemnity insur ance in an amount never less than 125 of the then outstanding bonds; (d) upon the shipbuilding plant while it is under mortgage to the full insurable value thereof. All insurance is payable to the Trustee as further security for die bonds. LEGALITY: The legality of all proceedings has been approved by our counsel whose opinions are on file. Price to Net 8V2 Average Maturities THE TILLOTSON & WOLCOTT COMPANY "Investment Securities CLEVELAND CINCINNATI Guardian Building Union Trust Building The statements ana figures contained in this crcular, while not guaranteed, are from sources which we consider reliable and have been relied upon by us in our purchase of these securities. iitwWBK&er tUsdOfflea MWaJ18tret Now York THE NATIONAL CITY BANK OF NEW YORK AND BRANCHES Condensed Statement of Condition as of May 4, 1920 ASSETS CASH on Hand, in Federal Sown Bask and doe from Banks and Bankers sad United v States Treasurer $254,00822.18 Acceptances of other banks . . 26,934,110.29 United States Treasury Certificate . w , 22,813,500.00 $303,755,932.47 Loans, and Discounts 586,088,579.98 United States Bonds' and other Bonds sod Securities - 40.079.590.07 Stock in Federal Reserve Bank ...,. I0djt00.00 Banking House ... Due from Branches Customers' Liability Account of AcccetaaeM .' m Other assets . . . .mbhm'm 627,968,170.05 5,000,000.00 20,470,001.51 66,068,490.77 4,323,191.73 $1,027,585,786.53 LIABILITIES Capital, Surplus aad UaAfUM Prafite .'xmhwdhk Deposits , 'vMMatNMw Reserved for Taxes sad lastret Acamtd M . w w Unearned Discount ; w ; , u . Circulation . w w p v w ,. Due to Federal Reserve Bank Other Bank Acceptances and Foreign Bills sold with our Endorsement Acceptances, Cash Letters of Credit and Travelers' Checks . Bondo Borrowed .......... Other Liabilities ...... v . ... . $84,855,526.65 720,598,39759 4,846,508.31, Z,90Z,WU.0Z 1,399,930.00) 106,460,066.76 31,753,200.11 68,143,630.51 3,333,200.00 3,292.726.18 $1.027.585,786.53 A Complete INVESTMENT SERVICE Specialists In OHIO MOTOR AND RUBBER STOCKS ' ACCEPTANCES BONDS STOCKS CORPORATION FINANCING OTI & CO Investment Bankers CLEVELAND PM,t0llv Detrolt CindnnaU tolumbus Akron Youngatown tr Colnrnrln Cnl.. w.H.w WJ'JJi3 Denvi Phila. Electric s, 1922. t,0SNK?f.WRRISON&co. lIlliIM Information: We have for free distribution a detailed circular describing READING COMPANY and its Associated Companies, copies of which will be furnished on application. Discussion: We shall be glad to discuss the possible position of securities of the Reading Company nnd ita subsidiaries with holders of the same. HARPER & TURNER Investment Bankers 1000-1012 Stock Exchange Building Philadelphia llranch Offices at Scranton and Reading, Pa. New York Bonds t8At.ES IN 110001 Front Onsnlnr Until 2 P. M. (N. T. Tims) Aratr Smelt'g ft n 6 1 78 A Tel Tel ell R 74?t B .... 74i ft 744 74 ; 1 7B'.i 1 75U A Ttl A Tel 6i 1 7B4 I 73H a 76 1 73H A Tl Ttl ft D3T4 1 94 l bsk 1 03 Tt 4 (13 1 03U AnaFreneh tXa 08't OSVi 08U nsu nsvi ORH S3 ft (is n a 08 6 08 ft 08, 17 10. ft. 10. 8. 10. 1. ft. 40. fl. 1. 1. 285. ATlal'nll 10 71 1 70' 3....v 70T4 2....1 70 Arc Repub ft; 1 70 1....; 10 Armour , 1 IB-, 1 7tm 1 78 U A Coast Z elt 2 0Xi Atl Coast L 4a 2 72 1. ... 72 Atl C Line Ba 9 P2U Bait & OWo e 2 BBS ft B8i 1 BStt D Ohio 8Ha 1 SO Halt & Ohio 4a 2 B9 13alt U Ohio Bs 2.. ..i 80 2 B8S Bait 4 Ohio a LIBERTY BONDS Bought, Sold and Quoted Call, Phone or Write. Liberty Bond Department West & Co. Hell, Hirur M M17 CHESTNUT STREET PhlUdclplila Mtock Hcli"l Kfxatoiif. Kace :ooo New tk HtotU I'.icliunsr He AIwsts IUts On Hand a 1.1st uf lllxli Orsde Usnds s. Correapondencs Invited 11..., 2... 2. 1.. ft..., Cuban 2(1. )... a., n . l... 2. . 1 . 10.. 1. 1 18... 8 100 101H 100U 100H 100 w C 8 cv . 74 . 07 . 0TK . 07 . . 07 . 07 . 07 . 07 H 07 S . 09 V, . 07H BTT4 10. ft., 1.. 8.. 1., 7. 3. 10., 1. 2. 1., D O P 85 8S 8ft 83 85 li es 8ft 83 85 R4 85 I, B tc W Va B 4a 1 B3 D & O 8 Wn My 3Us n eou 2 80 Vi D ' O Tol 4a 1 48 Beth Steel lat 1 01 U Steel fts '38 1 70', Urk Ilap T 7a 10 40U a 40i B 41 Brie Rap Tran ct Eta 7a 1 35 V. Brk U'n E 1st 1 01 Cent of Ga 0s 1 83 Cent Tao late 1 6B 1 68 l on S OB! 1 65. Cent'l R 11 of New J Bs 1 03 Ches'k & O fd 1 .... 82 Ches & O 4Us 1 .... 60 C40tv 4Hs 1 .... 67H t... . 6714 1 .. . OTK 1 . . 67i Ches'k & O 5a 1 83 B 72H C It Alton 3V, 10 32 Chlcaco B'n A Qulncy 4a 04 U 04 i 04 U 04 M 04 U 04 04 M 04U 13 18. 50. 2. 10. 1. 10. B. Chlcaco B'n Qulncl II 4a 10 78 Vi Chlcaco B'n 4 Qulncy cm 2 70't Chlcaco Mil A St I' D 4S 1 B4 0 B3U Chlcaco Mil & St P ti 4Us H B4H 1 65 Chlcaco Mil & St P cp Bs 1,..., OSU Chlcaco' Mil St P ov Ss V..... 2't 7 62i Oil Mi Puc Bound 4s S BOtt Chlcaco Nth wast cm 10 67 2 68U Chlcaco & Nth West zt 4s 2 83 Chlcaco Rock I ft Pso fd 1 62H 6 62H B 62 1 62tf 2 62S Chlcaco Rock I & Pso 4s 2.. .. 68 Chlcaco 4i W Ind'a 4s 6 ftft 1 .... 53 Chlcaco & w Ind'a 6s 1 08 Mi Chile Cop'r 7s 1 OBtt Chlnesa Gov't H-K Rtya fts 4 42V 2... . 42U City Bord'c 6s ft 87 1... . 86 City Lyons Cs 0 87 ft... . 87 City Msrs's 6e 6 87 City NY 4a 50 1 83 1 83 City NT4H 53 5 83'i City Parts 6s ft 00 .1 00 2 D0U 4 0OH Clar Cln Chi ft at I, la 4s 2 6114 Comp Tab ft Record e 6s IB 62 Copenh'n BUs 7 74H Cons'd Oas 7a 25.... 100 20.... 100 Den ft R O fd 3 . 43 7... 43 4 . m; Oen ft n O 4s J BOH 1 . . 50 2.. .. 50 d ft n ad 4U 2 3U D can Bs '21 2 07 D Can BUs 21 i .. 07v; D of Can '1MI 2 . .. 00 2.. . 80T4 D of Can '29 6..,.. 01 Dominion Ra publlo Ba 2. ... 83 8. ..83 Crle Gen Men 10 .... 404 2 . . . 40l 8 40 Crls RR ov4 4 8dk n. . . . nu Kris R Jl 4S 2 .40 Del ft Hud fd 2 .... 70 Gens'l Uleo 6S 2 08 6 07 8 .... 97 2 ... 07 Hoek'c V 4s 1 .... 61U 4 61 Hud ft Man fd 7 .... 68 Hud A Man In 2 .... 19U ft .... 1H Zl... . IB 1 . . 18 111 Central fd ft...'.. 63 3 .... ess. III Cent 4a '33 1 Ot 1 61 6. ... 60S 111 Cent'l fta 1 83 III C Chi St IV u N Jt n 4 7R III Steel 4s 2 ?4 Im Jap Ov let 3 .. 76 1 ... 7(1 1 ... 78 3 . .. 76 10 . . 76 1 .. 75" Imp J Ov 2nd 2 73 1.. . 75 Imp Jap O 4a in .... 58 ft .... 30 5 51 10 60 10 B9 Info Met 4s 1 15 2. ... 15 In Met ct 4s 15 .... 15 tntorboro Rap Tran fd 4 53 5 A3 B... . 62 1... . 82 In Acr Cor Bs 10 70 I M Marine 6a 3. ... 88 Lack Steel '23 7 02 Kanaaa City T Raly 4a 1 .... 04 Ken Cent R ' 6 .... 64 Leh V en 4e 1 75 Lehlch Vlv 6 8.. .. 03 1 . ... 00 2 06 L ft Myers 7a 2 102 Lone Island R R fd 1..... 62 Lorlllsrd C 7s 2.... 103 Louts ft N 4s 3 74 1. ... 74 2... . 74 Louis A. Naah SI 6s 2 06 Manhat E'd 4a 2..:.. 53 Mich C 4a '40 3 77 Mid fl ft O Ba 1 . .. 70; 1 . . . 80 0 ..80 3. 70S Mln ft 'St I. 4V 2.... 37 Mln K ft n 1st 8 37i M K C ft T 4a 4 63 Mis Pac cm 4s 1 .... (2K 1. ... 62 4 52 8 62 Mis Pso Bs '28 ft 79 8 79 3 70 N Tubs Co Ba 6 85 New O .Tex ft Mexloo 4 a 1 60 N T C ft II R R R 3a 7 68 3 08 N Y O ft H R R R 4a 2. . . . 70. U Y C ft II R n R 6s 3 ... 87 26 .... 87 1 .... 87 2 .... 87 4 .... 87 N Y C ft H R RR L S 8s Norfk ft W 4a 2 .... 68 N ft W cv 6s 4 .... 03 N'k ft W Po'a Coal C 4s 0 72 Nn Paclfla 8a 1 ..... B0 2 ... B0 1 SOU Nn Paclfla 4s 4 .... 69 1 ..., 60S. 3 09. Orecm ft Cal R R fts 1 . . 88 1 86 1. . 8 Orecon 8 li 6 1 07 Pso O ft K Bs 1. ... 74 1 , 74 Pa R era 4s 1,.... TDM a:.... 76. 1 78 a 78 Penna R n Bs 1. ... 8 2... . 84 B'.,.. 83 Penna R R 7s 101 101 101 , 101 , 101 ,'101 101 -j . 101 . 101 . 101 . 101 . 101 . 101 . 101 . 101 . 101 . 101 . 101'i . 101 . lul . 101 . 101 . 101 . 101 . 101 . 101 n 4s 70 . 70 Co 3 RAILROADS NEVER MORE VALUABLE Prospocts for a Friendly Re- coivorshlp for tho National Properties Co. 23 6. 6. ft 24. 1. 10. 2. 4. 10. 8. J. 2. B0. ft. 10. 1. 1. 1. 1. r 16. , t. 2. ft. 7. Readlnc 1 5..... n.arilrtfr Cent uoi 11 ft 80 neww ell 4s ,1 80 BlTi I M ft 8 n" 4l h I M 8 R ft O D 4S 2 64 s L ft a r. aj 1 Dtt 1 B8 8t L ft 3 F In ft .... 44 6 44 2 44 25 44 2 44 St L ft 8 Fran Hetles A 1 8.. 10. 8 . ft . 1. 1.. 1.. 2.. 53 V. 33 63 33 68 OSS 53 B3 63 8t L. ft 8 Fran Series C . 1 81" 1 82 St L ft South West'n 1st I.... 60 St I. ft South West'n Bs 1 .... Bl 4 61 St Psul M ft 8 Ste M 4s 3 71 Seab'd A li aj 1 34 5. ... 34 2. ... 33 2, .. 38 S'n'Psclflo fd 2 60 3. . . 60 S'n'Paclfln 4a 1 61 1 61 S'n Pac cv 4a 6.. .. 74 2 75 S'n Pac cv fts 1 07 10.. . 07 1.. . 07 1... . 07 S'n Pac Tor"n 1 04 3 Hallways 4a 3 CS .1.. . 55 1. . . 33 ft. 65 1. . 65 S Railways 6s 1.. . 70 14. . 70 Third Av R aj 8 23 1. . . 22 Third A RR 4a 1... . 41 Union Pso cv 70 Union Pac fd 4 . C4 Union Pao 8s 07'V U K G B I '21 04 1., 2.. 10., B.. ft.. a.. N Y 60 no 56 68 66 58 Ltsht II ft Power 4s B...t. 61 New T N II ft Hart 6a 2 68 1 68 1.. .. 68U N Y Rys ct 4i 1 24 T4 N Y Rlyws 6 1 6 N York Stats Rwys 4a ft 60 ft.... G0i N YTel's 4s Z 74 N Y Tele's 6s 2 67 4 87 ft 87 N T W C ft B R 4s 1 88 1 88 Norfk S'n Bs 6 63 Tcrlwtps It wn tho nbortivr nttempt of Rome railroad melt In ritlaburRh who evidently had riot awakened to tlip fact that tho railroad Btrlkc is a thlnp of the past, and had attempted lo galvanize the rorpse, that a good dral of the talk In the financial district yesterday hinged on railroad matters. In the first place, there was consider able satisfaction over the statement made on Wednesday, by A. .7. County, vlc6 president of the Pennsylvania Rail road, to the railroad accounting offi cers' association in convention at At lantic City, that railroad investors can take courage nnd leave the filough of despondency, as their properties were never more valuable. Investment bankers who had been preaching this gospel for some years past, In the face of declining prices for tho best gilt-edge railroad securities, were considerably heartened by this an nouncement from such n high authority in confirmation of the opinions which they held personally. One banker said the importance of the transportation Kystcms to n coun try Is so self-evident that It is surpris ing that its advantages have to be pointed out when inducing investors to place their money In railroad securities. All they have to do to bo Impressed with the value of transportation is to com- Sare the conditions of n country like lussia, where the transportation sys tem has completely broken dwn, with our own country, and even our own transportation is far from being what it ought to be, or what it will be in a few years from now. In fact, he said, to com right down to brass tacks, transportation spells the difference between civilization and savagery. e "I sec," said a well-known banker and broker, "that instead of n railroad strike in Pittsburgh n number of the .men who still remained cut on strilTo ore goine back to work today." It is too bad that there should he any labor troubles in connection with railroad oncratlon nt nrcseut. he said. when the whole country is suffering from high prices, especially of food- j stuffs, because millions of tons on load ed cars aro not being moved, or are stored in yards. It is foolish for us to exnect to canture foreign trade when we fall down in tne transportation ot domestic supplies, he said, and the ehamo ot Jt is that other countries, not nearly so well equipped as the United States, arc out for business 'in real earnest and nre capturing the world's trade right from under our noses. Hero, he said, is an account of Ger many furnishing steel to other countries when, aB a mntter of fact, she is not making one-third of the tonnage she produced in 1013, the year before the war. As against that, ho said, the United States is also supplying steel plates to Holland, which shows that we should have no competition irom ucr mnnv. ns fornierlv the Dutch shipbuild ers cot all their plates from that country. Speaking of national properties yes torrlnv. n memher of n IiromitlCUt bunk In hoiisp identified with tho affoirs of this concern said that the final outcome for tho present conditions of its affairs will be a re-organlration. nrougm uooui e ther from tho "outside or tno -in- side," preferably the latter. He ox nected matters to take the form ot n friendly receivership. Tho 4-Gs. which sold on Wednes day at 10, were offered yestcrduy down to lii, $5500 were sold at the latter Quotation. The common stock of tho American Hallways Co. is do- nosltcd as collateral for tho bonds. The next Interest period is July 1. www When discussing Mcxicnn affairs yesterday, a banker said that, while news from that country in many re spects is fragmentary nnd in some in stances contradictory, the fact that cordhig to n prominent banker, will be tho formulation of definite principles lo assist in checking credit expansion. The ndvlsory council will meet with the Federal Reserve Hoard on Monday n,ext and the thirty-six class A directors from tile twelve reserve districts will meet Governor Harding and his asso ciates on Tuesday. While It is said that, no one knows the actual program to bo carried out, it was said that the meetings "may re sult In n recommendation to discrim inate in the matter of loans In favor of essential as against nonessential in- flnatrlra. The difficulty In this regard will be In drawing the line between these two especially, as during the war many of ttte essentials then are among the non csscntjols now. It is said that n com miiiM frnm tho American Hankers Association will be present. A report that. Secretary of the Treasury Houaton u'milrl nttpnrl tho mectincs was denied. A hanker said ho did' not look for the issuing of any hard and fast rules as a result of tno meetings, dui ne tiiu look for a code of principles governing future action on credit, which would be sufficiently elastic to meet the require ments ot the dinerent sections 01 me country. POCAHONTAS ELECTS State Convention In Wlldwood Se lects Great Prophetess Wlldwood, N. J., May 14. The Great Coiine'1 Degree of Pocahontas, Improved " 'lor of Red Med. opened its annua -tnto .convention yesterday In the Casino nuditorlutfi. Mayor V. K. Smith, Senator W. If. Urlght and Courtwrlght Smith made ntldrcsrs of welcome, the mayor for the cit.v, the senator for the county, and tho secretary for the Hoard of Trade. The drop In temperntoro forced the nfter noon session to warmer quarters In tho fire hall. Today the meetings will be conducted In the high school nudl torium. Lost evening the local council entertained tho visitors nt a dnnennt. The officers elected for the ensuing year aro: Irene U. Davis. Minotola, great prophetess; Mary C. Lange, Elizabeth, great Poooliontas; Minnie Freland. Pnterson, great wenonah ; Minnie Decamp. Newark, great Minne haha; Lillian Thompson, New Kgypt, great, keeper of records; Harriet A. Whitmore, Oceanic, great keeper of wampum; .lennio iiyion, hea Uirt, great trustee. Tho next annual ses sion will take place in Lake-wood, May 12, 1021. LOCAL MINING STOCKS TONOPAIt STOCKH Bid Cseh Hov 07 Jim Ilutler 17 MncNamara A MarNamara Cresnt A .Midway nw Xllipali !5xl J" Montana 12 North Star 0 Tleanin Kills. 1ft Tonopsh Kxt 1 l-4 Weal End .04 West Tonopah DIVIDE STOCKS Alllod plvldn 01 Alto Divide 03 Uelcher da Belcher Ext lien Hur Hrouith Divtaa . . Divide Kxt Divide Syndicate Divide Cons . . Dividend F.ast Divide HormlU HanbroucK Dhtdft Hlsh Divide Revert Divide Reno Divide 06 .02 .0 .80 .01 .02 07 .01 20 .02 .01 .flft ni 01 .02 1 .03 .11 .04 .18 Roaetto Hllver Kins ... Tonopah Dlvldx Ton Hasbrouck Victory Divide Verde Divide Zona OOIjOFIKLD STOCKS Atlanta. 01 Plus Bull H Booth 01 O O D ill Combination Fraction Crackerjack Dlamondfleld B B Daley , Florence Goldflctd Cons Goldfleld Merjrer OoidReld Development oreat uena Jumbo Ext Kewanaa JiOne Htar Oro KM Hills Sliver Pick Spearhead MISCELLANEOUS Amparn Arizona United uaen 'i Mother IiOde 55 Nevada mil n: Nevada Iland 21 Nevada Wonder IS Tocopa Mln OK Whlto Caps in wuueri ... us .0.' OH .01 .01 .211 on .02 .mi .01 01 .02 .OS 111 Ot mi .i) IS 10 Ask .08 .10, A .12 .12 II .110 .17 i; .00 .02 01 .07 .ns .on .12 ,15 .IIJ 11.1 nu 01 an nt in 07 .02 .0.1 '.03 1 07 .1.1 .n .511 0!t OS nn .0.1 nn .10 02 .112 .25 .11 .03 .08 .03 .l7 .03 05 .02 .Ot .OS on 1 A .00 .04 25 .IS 12 12 .07 Stenographers In New York Bank 15ir1lent opportunity In larare downlown bank for rnpabl experienced stenographers under 2S vears Permanent pooltlnne. ex rel!nt working conditions Good aalsry nnd lunch's. State age. education, experience and salary exported. Write K. V. f'.. BOOM 701 ID Wj)t 4th St . New York City riNANriAn rrrTRBi'ttoii noi.'iS cobpobation Six Per Cemt Imt Morlsnse Convertible Sinking Fund fkild r.-r.il Notice l hereby plvcn that th under signed ss Trustee under the First MorliMRe ana Deed of Trust dated July 30, 1817 of Pittsburgh Bolls Corporation, will rrrele written proposals up to a p. m. Monday, May 24th. 1020, for tho sale to It of bonds ot the above Issue to an extent sufficient, at the lowest rrlce obtainable, to exhaust the sum of ISOOO, ' Proposals should be plsced In sealed en elopes Indorsed "Proposal for sale of Pittsburgh Bolls Corporation Six Per Cent First Mortgage Convertible filnklnc fund Gold Bonda." and sent to the undersigned at Its Broad street offlcc. Liberty Building. Philadelphia. Pa. Bonda nerepted must b delivered bfore June 1. 1920. or satisfactory security fur nlshed prior to that day that delivery will bo made within ten dava. Payment for bonds accepted will be made 9rVhe "undersigned resrves the right to re ject In whole or in part any or all pro- Dsted Philadelphia. May Rth. 1D20. PHILADELPHIA TBlfST COMPANY, 1114 nv JOHN C. WAMJira How and; Why TTOW can the careful in- AAvcstor ls sure ot pcrma,, nent safety, prompt payment; of both principal and intcresti in cash on the day due,- and' a fair interest return on hU.' money? . W Why have the investors who have placed their funds under the' safeguards of the Straus Plan been able to secure these advantages for 38 years with out a single case of loss? Our booklet, "Safety and bc'o," will tell you how and why. Write Ask for for it today. BOOKLET No. 373-Q S WSTRAUS &C0. UT!U JmLO 2 InCOHSOHAJ t0 STOCK KXCHANOr! BOIIiDINa., riuT.Anni.rntA 38 years without loss any investor to- ft . By JOHN C. WALIACB, Treasurer. LONDON STOCK MARKET Irregularity Marked Trade War Loans Advance Industrials Waver London, May 14. Irregularity marked tlia traue in securities on me etocK ex change again today and chango In prices continued narrow. The usual week-end conditions were In evidence throughout the house. Thcro was a fresh advance In tho war loans on buying by government brokers. lilttle change took place In the oil hcctlon, Shell Transport being quoted at lOS and Mexican Eagles at 9a Industrials wavered. Mexicans re mained cheerful, hut thero was profit taking In Argentine rails. Canadians were dull. BUTTER, EGGS AND CHEESE New York. May 14. BUTTEB firmer. Be celpts, B337 tubs. Creamery, higher tlisn extras. 02f(12Vic extra (02 score). flifl 81V4c: firsts (8S to III scoro). S7ljfl0Wc1 panKlns' stock, current make. No. 2. 40c. EG03 Irregular, llecelots. 31.079 cases. Storage-DKcked extra firsts. 48Hc. do. firsts. 4(Uj 48c: freih-gatheril extra firsts. 47W 46c. do. firsts. 44W4'ic: atato. Pxnnaii. anla and nearbv western hennery whites, firsts to extras. 31S8c; do. brown extras, MQ52o: do. gathered browns and mixed col ors, nrsts to extras. 40VB0O. CHEKSB firm. Becelnts. 27AO Kvra State, whole-milk fiats, held, whits and col ored, specials. aiV32c; do, average run, SOcs stale, whole milk, flats, current make, white TUB TJNDEKSIONF.D. SUCCESSOR TO Knickerbocker Trust ('ompmiy na Trustee under the nWI-tgagn of the BEECH CllUEK i-OAI. & COKK COMPANY, dated June 1, 1004. holds the sum of Seventy-Flve Thou sand Seven Hundred Ninety-Eight Dollars and Thirty-Eight Cents (17.1.7H8.3R) In the .Sinking Fund provided for under the terms of Article tt of said mortgsge which Is applicable to the purchase of the Tlrat Mortgsge 5 40-Year Sinking Fund Oold Bonds of the Beech Creek Coal Coke Com pany due June 1. 1011 Offers of said bonds at not exreedlng par snd Interest will b received at the oRlco of the undersigned Trust Department. 60 Broadway, New York City, on or before May 28th. 1020. at twelve o'clock nodn. Bonds accepted must be delivered on June 1st. 1020, or security furnished. If required, that delivery will be made within ten days. The right Is reserved by the undersigned to re ject any and all offers. COLUMBIA TRUST COMPANY. Successor-Trustee. By GEORGE E. WARREN. Vice-President. Dated. New York, May 1st, 1020. SECURED 10 $300,000 Textile Finishing Mill (Philadelphia District) Requires $125,000 on 15-Yedr 1st Mortgage Liberal bonus for Immedlste action, tn net 10 on Investment H 020, ldger Office. sWJ'sssaV shipments of oil by tank stenmer from '""d colored, specials. 2820c; do. average rrnn.r.lnn l,v ll, f.vlnan 1t ,.!,, , ' run -OWilVSC. POCAHONTAS CONSOLIDATED COL LIERIES COMPANY, INCORPORATED Fifty-Year Five Per Cent. Gold Bonds. Notice Is hereby given, pursuant to the terms of the Mortgsge dated July 1st. 1907, that the undersigned, as Trustee, will re ceive sealed proposals up to 3:00 p. m. on the 8th day of June. 1020, for the ssle to It of bonds as above described, sufficient to uss the sum of 154.104.81. The under signed reserves the right to reject any or all tenders. , THE NEW TOnK TRUST COMPANY. Truatee. By B. O. CURTS. Secretary. New York. Mv 10 1020 FINANCIAL Proposals V We Buy Sell and Quote ABBOTTS Alderney Dairies Preferred and Common FRANKLIN AYRES Share nnd Bond Broker 1021.M Drexel Blilg.. Phils.. Pa. Correspondent, T,. s. Rogers & Co. Members Consolidated Stock Exchange 'ot IN. Y. SSSSSSsSjSSSSSlS, the east side or front st at Berks st. Plumbing. Contract S78 Plumbing for the itlon buildings at Front and Berks sts Kensington sve. nt Huntingdon st , Tioga 1 a 10 4 10 1 23 10. 10 JI4!i 94U 114 U !4 T4ti P4S, 04 High Liberty Ufa..:... 01.24 Liberty 1st Is. Liberty 2d 4s Liberty 1st 4Ub.. Liberty 2d 4Mb.. Liberty 3d 4Ws.. Liberty 4th 4V,s,, Vic Notea 31a... Vic Notes 4s... 85.20 84.00 85.70 84.00 88.50 85.40 05.80 05.80 U IC O B & I rets of '20 6 . 00. 1. 00U UKOBI'JI 3 . 83tl U 8 Mexico Ss 10 .. 33 U R San Fran unct 4s fl . 23 U S Reslty 6s 1 . . 81 81 U S Rubb'r 3s 1 . 7V4 2 . 70 1 . 19K r. 70 'i 2 . 70; 1. 70 U S Rubb'r 7s 2 . . 100V, U S Steel Bs 10... 03H 2 . 02' 1 . 'US 1 02S 1 031.4 2 2k 1 . . 02H 1 . 02U Utsh Power Light fis 1 ... 70 Vlr'a Carolina Chem Co 0a 1.. 94 Va Rall'ys Ca 3 . 7S 1 741,, Westn Kleo 3s 1 B . P4 West'n Md 4a B 411 3 40 Westn Pso let 3.. 7H 8 78 West'n V H' 1 . 74 Wilson Co cv 2 88 ', 1 80 S . 87i Wilson Co 1st 87 S time) 11,13 a. m 01.20 85.20 84.00 85.70 84.70 88.14 85.22 05.70 05.70 Co. nnd the Pan-American Petroleum Co. nro procecdlnc as usual. Krom this lie said lio declares that the revolution now in progress hns not interfered in the movement of oil from the field tn Tamplco, the port of shipment. 'While thero is no news from tho fields, those most interested arc not disturbed over the situation. DIVIDENDS DECLARED American 'Power and r.ight Co., quarterly of 1 per cent on common, payable June 1 to stock of record May 10 Southern Railway Co . eeimannusl of 2tt per oent on preferred, pa) able June 30 to stork of record Juno 4 Wills s Corporation, quarterly of $2 on first preferred, payable June 1 to stock of record May 20. Delawaro and Bound Brook Railroad Co , Quarterly of 2 per cent, payable Mav ?n In cortain banking circles in this city 1 R,.r."'Jtf,r,'.rt J,n,L,14,-, ., . . v. !.,,,. ,iu i wiinin !,:, West Phllade phla Title nnd Trust Co.. the meetings colled in Washington by mmnnuai of 0 per cent, payable June i the Federal Reserve Board for Mouday to stock of record May 20. and Tuesday next arc considered very', J;''d;jn,,aMI"iQR 'I,1rn,tLVr.:o auf,r important. Tho principal business, nc-jlo 15 !o4 .t?S. CoSfntrecor5rMa7'2. Dayftb" IVUniii itkLHajH. sirivUnirrxAivMunrStiu MBPIBiSifefTpBS xMaVHa?uBH'lIJlK2h' PHr ' Si l'niii'imAi.s I'nit ntatiiiv mm mvn PI.U.MRI.XI AM) F.I.KCTOlCAir worilf von this FRANKFonn kiTkvatfo RAILWAY ANI PIPK t'OVERINO IN depart;ent op- citt transit city of philadelphia 11th Floor. 1311 Chestnut st. Philadelphia May 10. 10211 Seslfd proposals addressed tn the Under signed at the office above mentioned will be receivru "' " ..iuv noun on luesdsv i June 1. 1020. for contracts B73 .178, r7 snd 118. end opened Immedlatelv thereafter Authorlied by ordinances of Councils ap proved Julv 20., 1010. and March e 1B17 1 Ulillnn llnlldlnrs. Contract ss a '- I re-enforced concrjte buildings at the south west corner of Front and Berks sts and on!"" J," "A1..:..'.'Vi "V,,"' t'?5rs. si. station On ienOIIlJH'l v iluilllllKUDI) hi Tlogi t nnri Tnrresdale ave . and at ha n...T. east corner of Frank ford aye. and Pratt st. FJectrlcal Work Contract B70 Conduits for the atMlon buildings at Front and Berks sts.. on Kenelne'on ave. at Huntingdon st.! Tioga st and Torresdale ave.. and at the northeast corner of 1'rankford ave. and rinaulatlng Coverings. Contract 118 Boiler feed water heater and softener and connect ing Pipe llnea In south side of City Hall baeoment covered with InaulatlnB materials Plana and specifics! ens can b seen at 1211 Cheatnoi at . twelfth floor, and copies of same, with blank forms for proposal, will be supplied to Intending bidders. Ae deposit of ten (10) dnllsrs wl't be reaulred for the plsns for each contract, except con trsct 118. and on their return It will bo re- Bidders must bo skilled and regularly en gaged In the clsss of work bid for COnirsClori w, in rniuirra io comply 1 with tha act of Aesembly of July is 1017 relative to workmen's compensation In surance and proof must be furnished the ' department by each contractor that he has ' accepted the provleSona of said art and tn 1 urad hla liability thereunder or aeeur.H exemption therefrom. For each bid a proposal bond In the sum of Ave hundred (300) dollars must be flld In the Law Department, Room 404. Cltv Hall, In sccordanco with the ordinance of May as 1880. the certificate ot such flllnc to be In closed wun uin 01a I The director reserves the right to reject I any or all bid os he itrn deem best for I lh, interest of ""nf .&, Director GERMAN CITY BONDS JAPANESE GOVT BONDS Prices and complete in formation cheerfully given. NEWBURGER, HENDERSON & LOEB Members New York and Philadelphia Stock Exchanges 1410 Chestnut St. Rockhill Coal & Iron 8 Cumulative Sinking Fund Preferred Stock Controlled nnd Operated by Madeira, Hill & Co of Phila. Free of Penna. State Tax ' Free of Normal Income Tx 98 and Div. to Net 8.1G Circular on Request Townsend Whelen & Co. 505 Chestnut Street - A CLOSED FIRST MORTGAGE Bond Outstanding nighten Tears. Cover. Inn Steam R It . Terminals, and Equipment PRICK I1F.FOUR TUB WAR B0. Now 582, Returning 72 EDWARD V. KANE & CO. Morris Building I.IStiM. ADVEKTISF.MF.NTH Dividends IN. T Low ni.10 sn.so 8-t.OO 85.70 84..W 88.10 85.10 05.02 05.03 Go(d Imports From Colombia Xw York, Mfty H. Fifty thousand dollars in United States sold coin has arrived from Colombia conalkned to tho Battery rark' National Bank, nlaltlnr n totni or, looouoqun tiiq recent-movement Z J'- .. . . irora 4JwsBji5,tte, ynltsd'Statea.- r w A Continuous Stream of Quotations FLASHED over our private wires right at the edge of the New York Curb Market every minute of every business day and posted on the large board in our customers' room. Visitors welcome. "ProGt Possibilities Great at Present Relatively Low Prices" This is the opinion of many market observers. Ourrepresen tatives will be glad to give you all the latest news on active se curities in person or by telephone. JONES & BAKER SECURITIES Widener Bldg., Philadelphia Phones: Bell, Locust 4730; Keystone, Race 2290 Dintt Friftu JTtni OFFICES IN 0 PRINCIPAL CITIES all 1KY?JF 1 hookltt, Vkte Jul .....!.. "Mixjfors anA TraAtrm Ouldt," fells the petwral rules of trading, dfpoalt rriyireinenis, roirnnl nhargtt."lo, Na eharar. r-xiii. -pnont, write lur .vq. T. V. ttl ' m,t J y 1 TF.XAH NATIONAL Oil, RKFIMNa CmtrilKATION Vort Worth, Terns Th" Board of Directors has delred in resular monthly dividend of 3 per rent ('.!) lo all ator.holders of record on Jlsy 1. laco Plvldend checks hae ton mailed li. 1: uranx n.r.i: ''.rrijJ'J HOCKI1II.I. COAI. i IRON rilMI'ANY North American HulldliiK rhlladelnhla, Tn A nuarterly dividend of tt.00 per share has heen declared on the Preferred Capital Stock of th Hockhlll foal ft Iron "'oinpany. pj uhlo dune 1st. 1020, to stockhnfdors of record at the lIoso of business Mav 22d. 1010 JOHN OtI.nKItT. IVeaeurer 'THE ATI.AVTIC RKFININO COjil'ANV 3144 rnas.Tunk Asrnue riilladrlpliln, l'a. Msy 13lh. lfi;0 At a metln of the Board of Directors held Mav tilth. 1H20. a dividend of $3.00 pr share was declnrd on tho Ootnnion HtocU of thn rompanv, iiaablo June 1(1. 1820, tn the etnckholders st the closo of business May 21. lll'.'O. Checks will be mailed. W P ANDERSON. Secretary l.F.F, Kl'llllini AND Tllti; (OKIMIItATION Nw Yn'k April 20 lllll The director hae this dav deilnred r quarterlv dUldcnd on the cspltal stock of this compan of ,10o pr shate. iaa'je lune 1 lii'J" o atockholilrs of record st the close of luiiineir May 16. 1920, checks 111 he mailed HKNIIT HOPKINS. ,irt Srrre t a rv Jlxrial .MMtJnrs fil'IICIAI, STOrKllOLIlKltH" MKKTINI1, TIIK AMTJtlt'XN ll.MIAXAVS CIIMI'AN'V. To tho stockholders of tho American Hull ways Cnmpanj : Pursuant to the call of th hoard of directors o t ie company, a special meeting of the stockholders of tho American Ratlv.as Companv will he held at tho prin cipal office of the company No 410 Market st . Camden. N J . on tho IHth day of May. 102O. tit 12 o'clock noon, to tako action for or sgrslnst the creation of a claxs of stock of the company to he known as Its second preferred stock to the amount ot 14,000.000 and for or agalnet the amendment of the charter of the company so that the total authorised capital stock shall be f2t,(00,uoii of which 49.000 snares of the psr vulue of S10O each, and aesreiutlnc In amount 14.. 000,000. ahall he drat Preferred capital atock, and 0, 000 sharej of tha pur Milvs nt IA0 each, and ascrecitliis in amount $4,000 000. ahall be asennd piefer-od capital atock and 340,000 sharsa of tha car ta of fail each and BKretatlne In ainoitrt HI . 000,000 ahall be common capital a'ock, and to take such other action In rgre" therelo as may be brought before the ineflliin llv order of the losrd. ' WALTKR VT. PEIIIUNS. WecrsUtT. KKSTATK Or TKRA V. STONE. decesMsl I.oltfrs testamentary upon th estate of Clara V Stone deceased hav. Ins; b"en srantxd to Fidelity Trust Com panv. all persons lndbted to the said eatate are requested lo make pajment and these havlne ilalms aialtnt the same lo present them nlthtout delav m the offlr h of the aid onipan. .12.I.331 i. heatnut at, Phils, delphia. WM. I' QEST President rrp'KSTATi: or xvii.ms .1. mmihis, ne- ' " ceased -letters Tcstamcntarv upon the Estate of XX'lllls J Morse deceased hsv InK been s-ranted to, Hdellty Trust Compuny. all perron, ndebt.l to the said Hstats are requested to mnk pamcnt snd those havlnf clalnin HK.imhl the same to present them, without delav nt the office of the said ConvS panv No !123 .131 Chestnut street Phila delphia XX'.M p OUST President. jigr" NOTici; or dissolution. X'. (he underpinned lieiiiR partners, trndlne UJider tho firm namn UT The Kllswortn ciarnse do hereov site notice that we hava cilsso,ved rsrlnershlp All hills due by US ainl all bills due us aro to be paid to Peter Vassallo, 1141 S llroad hi XVII.LIAM I M'OONTCJAk. PUTF.U VAH.SA1.LU. PERSONALS Hit v dent estlna I P rtOIUNSON please call adMrtlMai Public .Ledger. May receive Inter nfop;nntlo'i. - ' T LOST AND FOUND 5 DIAMOND Lost. sTiiare-rut dlarnos.1 weisht II K.I karats Th stone was lostx .T,..i.iua.. ...u i, ucmci'ii iiavurioru ana ins ii.p.iiui nir.oi urvin nuu.n l,IDCra TS nsrd If rcturnul to J 11 Culdwell . C.1 t ncsinin tino .nuiiper sts n.XItniNa--Lost platinum diamond drop, eairinc. May 12 from A2d and Upruos ta 1.1th and X'alnul liberal reward Return tn 2IH H n2d at Phone llelmont SH40 TOOTllALI-aold football on ribbon. In-"' scribed, reward. Itsturn to Apartment flll-D, Normandle llAMlllAO- faist. ladles room" West Phtliw delphia Htatlon. 'WitlntsJav moriiinr. blaeV handbai; cnntsinlnv 110 and New York ticket. ) kH4 Ledk-er Offlc. ' NICCKI'IECB Lost suulrrel necHplece, . Chestnut st. between XX'anamaksrVit 11 st i.tuerai rowaru voilll Vanamakers. IUNO Kound mi LwU .L Deans., cti float, ftllill dliniend rinm. nu..-t may n"yr hy provlnir ownership. H till,; SllARV Ijis psi.er tur scarr: man. IBOj XX alnut Wdiieilr artffiiwn,,a.tilirfi ,,t lioersi jfard. B, HW, f fc J tofard. B. SVA5vilfPlioil. nehilsiiialfSi avU wait short cjialo tn (n,tiilir', aftet lUy .. on V. ' I NUMMKrt IS U 'RR VV. PEIUCINH. Meer.ter. I STL T Vu.M... . C.l.. WtlitUslse Xm MX 'aV-JJ3ft. 4sM lIWsla17WiaillliU .41?,.? . . ....,,. ,.. Yii. . i , .. TV.. "b "" n.t -W fJV'',. 'P. t Ssiy M.j ji i?!l " f 1 .i I r 'J ri 'i - J MHsf), MmjatMaii r?..FAAiilaU :&lu t i.i . . rf . ,W v S( i ft,
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