V 7V " 'U vf' ,'1 t I, kt y i r 1 UKtun sruAHUH v;?"" 'f.-:rr, : a..v,;, ; ::! , -rvr 'iU ,.r..w nn.n-J.ol rim 4n offering in blocks of three shdresftwo 7 Preferred and oneCommon,at$300perblock The Goodyear Tire & Rubber Company of Akron During the past twelve years the total net asset? of this company have increased from $1,140,136.14 to more than $115,000,000. In this period the sales have advanced from $2,189,749.49 to a' rate approximating $225,000,000 for the current fiscal year. In this period the earnings applicable to the common stock outstanding, after payment of preferred dividends, have ex ceeded an average of 54 per annum. Cash dividends of 12 have been paid annually since 1908 on the common stock and stock dividends have been paid as follows: 1908, 100; 1909, 100; 1911, 100; 1913, 20; 1915, 100; 1920, 150. There is a sound value of $122 back of each share of the common; which amount is exclusive of the value of the Good year good will, patents, trade-rights and -names'. The company produces 20 of the automobile tire business of this country and a large volume in pneumatic and solid truck tires, in mechanical goods and in shoe soles and rubber heels. The amount of business done in the six months to May 1, 1920, has exceeded that of the preceding fiscal year for the same period by 59.3. We are offering the unsold portion of $20,000,000 7 Cumu lative Preferred and of $10,000,000 Common Stock in blocks of three shares (2 Preferred and 1 Common) at $300 per block. Borton & Borton Leader Bldg. Cleveland Investment Securities Orders' may be placed through your own bank or dealer The Information contained In thlt adrertleement It obtained from eourcea-we believe to be reli able although we do not guarantee lit accuracy IS mEARiNG UP Expoot Bull Movement to Fal low Protractod .Spell of Inactivity NewtYorkdBpiidg (BALKS IN I1O0O) From Opraln. Unlit t p. m. (N. T. Time) B I , . Call Bell, Locust 4730 or Keystone, Race 2290 'ffiETWoV A battery of telephones with representatives to give the latest quotations and news regarding New York Curb Market securities, is one feature of our superior brokerage service. Printed reports giving management, properties, capitalization, dividends, plans, etc., may be had without charge. Investors and traders are cordially invited to make our board rooms their market headquarters. JONES & BAKER Specialists in New York Thit int. ratine KjUto Marce. aecunues TraderaQuide'tens Widener Bldg-., Philadelphia S'tSilJ, dSX Hones Bell, Locust 4730 Keystone, Race 2290 requirements, com. mission charge, etc No charge. Call, phone, write for No. -.U.-916. OFFICES IN 9 PRINCIPAL CITIES Lired Prtvati Wirti NO TAXES OF ANY KIND ON THIS PARTICULAR BUSINESS I have for years been in the business of selling, with my ngency organizations, high-class investment securities and now have an option to tell the securities of an unusual business where great profits are prob able and which the United States Government specifically absolves from the Incomo and Excess Fronts taxes because of the pressing need of the product, and this condition will exist for many years. I need a partner as treasurer, with $25,000 cash, for a one-half to , 8l wnicn includes a bonus of stock of the company and will be glad w demonstrate to n sincere investor remarkable, sure, unimpeachable safe returns. Confidential. A 512, LEDGER OFFICE. Argentine Republic 5 Internal Loan Due 1945 100 pesos (approximately $100 k! I)rinc'Pa nd interest S?ff,bl W U' S- Bold at fixed ate of $0,973 per peso. Price $69 per 100 peso bond To yield 7.75 se'Tw 1?u J"550 bondi i anb0lt 70-71 on tho New York Exchange. Battles & co INVESTMENT BANKERS ' ESTABLISHED 1890 Dinnunu. ... quA. tAT P. C. C. & St. L. 5 BONDS DUE 1970 Guaranteed Pennsylvania R. R. Prico76 and Interest (Wlim, If nnil n ltuKl) MARTIN & CO. Ull WALNUT ST PHILADELPHIA MAN OF MATURE YEARS If available for n.lon nf trut or to net In an executive capacity. ha eetveil a olTlce manager, credit man, eiport manager and treasurer) apeaka four languages K A 235, LEDGER OFFICE w Metropolitan Edison 5s, 1922 B0ENNING, GARRISON & CO. STOCK EXCIIANOK nUH.DINO Direct Private Telephone to New York Members I'hlla. Stock Exchange F1NAKCIAI. K?5 TO THE llUUJKIta OJf HEnSTEft TT . ft1. ,l.n'1 .Cok Company' Consoll Hnteil rirt Murtgago lire I'er Cent Gold Bondat. NOTIcn ! hereby given, pursuant to Artlcln Fourth of the Consolidated Flrat Morteng dated March 1st. 1002. semiring the. above, bnnda. that on the fifteenth day ? Ju,l 103P J1' twelve, o'clock Noon, at Ilqom, 418 Stephen Qlrard Dulldlng. Phila delphia. Pennsylvania, there v. Ill be a meet. Jng of the holders of the outitanrtlnr bonds Issued under and secured by said Consoli dated Pirt Mortgage for the purpose of votlnc on the uropoed release from the lien and operation oZ sain mortgage, of the fol. lowing parcels 01 land Included In aald mortgage: Threo tracts or parcels of surface In Rum. mcrhlll Township. Cambria County. Penn sylvania, aggregating about .149 acres 83 perchei. orupoajd to be sold tb Conrad Wenderoth. Twenty-elRht racta or parrels of roal. situate In Cambria. Crovle and gummerhlll Townshlns. Cambria Coonty. Pennsylvania, aggregatln? about 3407 acrea and fill perches, with 97 acres and 2 perches of surface, proposed to be sold to the Melva Ccel Companv, Eight trncts or parcela nf eonl. situate In Bummerhlll. Portace and Munster Town ships. Camhrln rnnpty. Pennsylvania, ag gregntlng about IRt acres atd 40 perches, rrnposed t& be exchanged with the Hummlt Water Sunplv Company for two tracta of rnnl In Munster and Bummerhlll Townships. Cambria County. Pennsylvania, aggregating an equal arreare. WEI1STER COAL ANT rOKK COMPANT By A. O. EDWAnns. Secretary and Treasurar. Dated Nw York. June 1(1. 10M. HALE ft KTMIUHN CORPOnATION Rlnktnr Fund Nntlee Snld Prnposals for the sale to FIDELITY TltUST COMPANY. Trustee, at a price not to exceed 10SV4 per centum of par and ac crued Interest, of a sufnVlent amount of th!,rirt Mortgage Twenty-Year 0fi Sinking I'unn uoin uonns or tne naie iviimi'n Coronratlon to.exbanst the sum nf 2 ftnn no. win be rerelved at the offlca of "!d Hdellty i rust inmnnnv, irusiee. nT.a;ii I'nesrnut Plreet. Philadelphia, until Wednesday, June 23 1P20. 11 nVlnck Xt FIDELITY TTM'RT COMPANY. Trustee. Win, P. Oe.t President. Phllndetnhla June 11. 1010. Dividend" AMEIMfAV POWER ft I.IOHT COMPANY It ltrnidnr. New Vok. N. Y. PPEFEnnED HTOCIC DIVIDEND NO 41 The reulsr quarterly dlildend rt U.rf, en the Preferred Stock of the Amerlrsn Power & I.'ght Conmsny has been declared, naveble July 1. 1020. to preferred stock holders of record at the close of business Juno 21. IK'O. WILLIAM KEISEn, Treaaurer. TltAYMIR ENOINEERINO ft MFfl, COMPANY Th usual quarterlv dividend of 1! hss lven declared on the Preferred nnd Common Stock pavahle July 1st, 1020. to stockhold ers of record June 25th. J. MAIR, Assistant Fecretarv. rmpnals nnnnrmi of lansdowne. pa. Feiled proposals will be received bv the undersigned until R n m. Friday, Jane tS. 1020, fo- tho purchase nf en Issue of coupon bonds, In pursuance of tho election for In-creaiy- of debt held under ordinance No. 242 Arhe Issue not to be more than $30. OOiB nonds to be tn denominations to sulrWrehaser and to be payab'e in SO yenrs Interest to be tit. lier annum, payable semi annually, free of taxes Principal and In terest pajable at a place to be selected. All bld must he accompanied by a certified lieck for 1210 no and envelope to bo In-do-sed on outside Prnpo.al for Ponds" Council reserves the right to reject any or all bids or to tssue bonds for an amount less than tho total auihortr-d hy ordinance, man J0HN w nAV,s (5rM,ryi 84 N. Lansdovina ave , Lsnsdowne Delawa-e Countv. p, PROPOSALS VOR TIIK CONSTRUCTION of Experimental Shop Ilulullug ()mCe of the Officer In Charge of Construction. Frank, ford Arsenal Phlla., Pa Sealed propoaels will be received here until 2 p. m., June ts, I0JO. ond then opened for construction as stated above. Tlana and specifications on application. OFFICE OF THE QUARTERMASTER CJKN. eral. Clothing and Equipage Division, Munitions Itldg Washington. D, C. Staled proposals, In duplicate will be received here until 11 a, m June 2.1. 1020. for furnishing all or any part of 228,sni spools of thread, cotton. P. C, Information on request OFl"ICE'(lENERAL SUPPLY DErOT. 17TII and V et. N. V Washington, p. C Sealed proposals will be opened at above ad. dress if a. m.. July 7. 10J0. for 510,009 ft. common white pins lumber Information and proposal forms may be had upon application here. Till! .IIOIUllOII or SHARON HILL IN; "ilea bids on ao.year municipal loan nf 10 U0O at 5. free of state tax, '"Apply Wllllim 8. Atchison. Secretary. 701 Jiallty Bldg.. PnlladtlPhla. That the credit, sftuatlon Is jrtyinic lens nnxlctr nmon(t bankers, was the remark of n well-known banker on Sat urday lost. While all the difficulties in the wov have not quite disappeared, he tuiii, they arc not of a nature to be insurmountable, There Is no need of any apprehension over the Credit Olltlnnlr. he sall such a there was. a few months ago and it is rtOSSihle that the Federal Tleservn Ttnarri may have some cneouraRirij: statement to make in the near futnrn for the hone. fit of the business Interests of the coun try. Of course it Is dull, remarked n brok er, when speaking of the stock market, but a dull season Is nothlnjr new, -he said. It is natural for us all to wsh for a bull campaign, but our biggest bull campaigns were preceded by just such dull sections as we are having now. It was the case in 1010, when, on cvcryDocjv Knows, wo nnti a great big bull market year when steel made a fiO point advance in the last halt of the year. It was in 1010 that for one whole month, from July IS to August IK, there were only one or two days when tho number of shares traded on the New York Slock Exchange exceeded MtO.OOO the average wfls under 300,000 each dar. This broker said he still held the onlnlon thot there will be, If not an old -fashioned bull campaign during the latter part of this year, nt least some thing very near approaching it. If the Interstate Commerce Commis sion should fail to announce such an increase in freight rates as will meet the hopes of those directly Interested In the roads. It will create a slump In the present low prices of railroad se curities, said n well-known broker, but no one even considers such a possi bility. There have been very jew objectors who have voiced their grievances nt the hearing In the rate cases, he said. One nf tho most important of these ob Wtnrn the Southern Industrial Traffic League, which, while It did not oppose an Increase, tried to mauc out a case to show thai the roads are ask ing tnn mnMi Thir romnlled figures to show thot the Southern roads In the first three months of 1020 earned more than their estimates based im last year showed for a full year. Of course, he said. If It could have been shown that this Increase would be permanent they might have made a good case, but in this they failed, Other associations went on record in favor of nn Increase in rates, in the hope service will be very much im ..... ,i An tim rmnmlHsInn has com- , J.Ieted 'taking testimony, it Is possible thev may nana down me run.- ui-.inuu about July 1, he said. Helow are the opinions of financier! and financial institutions on current events as they . affect the security market: ,,. , . Chandler Bros. & Co. "The market responded to the results of the Repub lican nominating convention much as might be 'expected from one dominated by an unsympathetic and artificial con trol such ns exists nt present, a control which Is based purely on a concentrated .r,nlii.v mtnnir. one that has obeyed po litical dictation so persistently applied that nil natural impulse na dcch uo stroved, and has become merely at at tention with only obedience to command ns the ruling action. The immediate in telligent verdict on 8enntor Harding s selection was to compare it In fitness with Hint of the lamented McKlnley, who was eminently suited to the great est advantages of the securities mar kets, in that he possessed the rare quality of being willing to let well enough nlone nnd wns not ambitious to be a disturber of successful, even if profitable, business progress. We re member bow.'nlmost immediately after his death, tho wheels of friction were started agog by his successor, and wealth nnd big business were assailed and the processes of segregation were launched in order that the 'malefactors of great wealth' should be broken apart and the little people of the world should come into possession." Guaranty Trust Co., New York "Improvement In the railroad situation proceeds but slowly despite the large powers exercised by the Interstate Com merce Commission. Railroad workers are reported to be shifting to other oc cupations, where conditions arc more satisfactory. Many complaints are made as to the delay of the labor board in arriving at a decision on the claims for more wages bv the men. Railroad con gestion is responsible for a scarcity of coal in mnnj sections, where plants have suspended operations and the price of available supplies has mounted. Inability to obtain materials has led building supply men to revise their sale prices upward. There has been a slight recession in food prices and the retail nrice cuts inaugurated a few weeks ago continue. There Is, however, no change in the fundamental factors by which prices arc established. Production is still far below tho requirements nnd likely so to continue, until the present wnvc of industrial discontent has passed." Ilccher & Co. "It Is very probable that tho market will swing along as it has been doing until after the Son Francisco convention is out of the way, and It Is known what the Democrotic platform will be and whnt man will head the ticket. It is beginning to look as if It would be an old-time fight be tween the Republicans nud Democrats, with uo other important party in the field to create much disturbance. The issues arc clear cut. The one which has been on trial was largely ideal and failed. The country wants something more practical, and we believe intends to have it. With tlje income-tax pay ments and 1st of July large dividends nnd Interest disbursements cored for, nnd with the funds from these sources finding their way back into the banks the money situation should be de cidedly easier for a whtle at least." Henry 1. Doherty Co. We are at last sensing what the Rritlsh recognized long ago, that the coun try which controls the petroleum supply Is the country which will control world trade. I particularly hope that public opinion will demand co-operative effort looking to the extension of our holdings of oil lands est we be caurjit In the position of n petitioner for on lu foreign markets at a time when for military orx commercial reasons they will bo loath to supply us. Our po sition In this most essential indnstr io not nearly so secure an It ought to be It is estimated by the United State's Oeological Survey that of all the oil originally underlying "the surface nf the ground In this country moro than 40 per cent has now been produced and consumed. We are today, and for a long time past have be'en, consuming more petroleum than wo produce There is above -ground in the United States reserve stock sufficient for only three months' needs and we are slowly eating into this slender margin of safety by our daily drafts to make up the dif ference between production, plus ira. ports, and refinery consumption, Ad am a Kg 4s n..,. on Amer Smelt' e Ren's Aa 1 77 A Tel T clt 1 T8 1 73 2 74 1 75 4 75H A Tel Tel Bs 1 ,74' 12.. t.. 75 A Tel Tel 0i 2w... nan i nan 1 OStt Amer Writing rper 7a S 74 1 75 Ang-French 5s Con'd Coal Co of Md 0s 2 72 Cont'd das 7a 2 B8i 1 08H Cuban C's Su gar cv ,,... 1 2..... 10 0 6 2 11 44 2 S 25 13 4 2.1. 3. 08 eg sett 08 98 08 081. 08 08 08 00 08 08 4 2 2 1 5 5::::: 5 7 8 !.. 3 Ann Arbor 4a 6 40 Atch Topeka 4 B Fe 4a 3..... 70 3 71 5 70 n 70 15 70 Atch Topeka 8 Fe ajs 1 54 1 84 15 04 1 64 Atlantic, Coast Line clt 3 82 Atlantic Coast Line 4s 1 72 1 71 Atlantic Coast L rets 7a 1 00 1 00 5 00 a oo v: 4 05 Dalt ft Ohio cv 1 60 1 50 Dalt A Ohio 4a 1 50 1 69 U Bait Ohio 6s I oil's Dalt & Ohio 8l 07 07 07 88 85 85 85 83 85 83 K3 85 83 DsOriiti & W Va n 4s 2 53 D Steel 5s '3d 0 78 2 TO Buffalo IV r & Plttsb'h 5s 3 88 Cent Leat'r 3s 1 00 1 00 Ccnt'l Tao 1st 2 08 2 88 C A O cv 4s 1 70 2...,. 71 1 71 C'k & O cv 8s 4..... 74 1 74 1 74 Chicago n'n Qulncy sm 1 72 Chicago D'n Qulncy 4s 07 07 .07 "07 07 07 07 07 0T 07 07 07 07 07 07 10...., 07 n,.... 1 5 Cumb'd Tel Tel 6s 1 78 Den A It O fd 1 48 10 48 1 40 Den & It O 4f 1 61 D A It O 4s 1 63 De't Tun 4a 4.... 00 Dlst's flecur'y Corp n 6a 6..... 7BU 3 70 2 75 10 75 Dom Canada 6a of21 8 07 4..... 01 D of Can '28 1 88 4 87 6 87 D of Can '20 1 00 D of Can '31 1 86 1 86 12 86 Erie II It cv II 1 as Erie II It cv D 3..... 83 Erie It Co 4a 1 47 Oen't Eleo 5s, B3H Oen'l Eleo 0s ::::: SH Great North'n niy lat 1 74 Hud k Man In 1 10 3 10 Imp Jap O 1st 0 73 Imp Jap a 2J 5 73 Imp Jap O 4s 65 Ind'a Steel 5s 1..... 84 In'o flap T fd N.T rtlwjra 5 I a N T Telo'a 0 1 80, Norfk A W 4a 1 62 N A W.CV 4a 10 so, N A W cv 6a 2 05 N'n Paclflo 8a 1 62 1 62H N'n Paclflo 4a 2 i 3 T0 10..... 70 0 70 K 70 Pao Gas Lct A Coke os 4 73 Pao T A III B, . . . iw 1 79 P It m 4 4 76 Pa.B4.' 1 07 penna. It R 6 B.... 8 82 1 82 1 82 Penna, IV B Oa i 77 Penna n ' 1. 8. 1.. 8.. 1.. 4.. 1.. 10.. 1.. a.. 4,. 4.. 10.. 2. 2. 101 101 101 101 101 101 1014 101 101 101 101U 101 101 ,101 101 DROf IN RAILROAD EARNINGS Deficits Increased by Payment of Taxed and Other Fixed Charges Washington, Jurio 21. Ite-llroftda In the. eastern and western classification territories sustained n deficit In tho net Incomo ttr April, but the roads In the southern territory had a net balance of $2,388,913 after paying all expenses, according to n, partial nummary of operating revenues and expenses made torlav by the Interstate Commerce Com mission, Eastern roads had a deficit of $14, 729,880 after paying nil expenses. In cluding taxes, while the deficit of the western roads was $8,284,662. Operat ing revenues In the eastern district were $127,080,772, and operating expenses $132,167,076. In tho southern district, operating revenues were 170.035.994. and operating expenses $64,619,166, and In the western, district operating revenues were i, 768,979, and operating expense $124,-662,664. Payments of tnxes and other fixed charges, not included in operating ex penses, Increased tho deficits of the eastern roads, wiped out tho net operat ing Income of the western roads and de creased the net balance of the southern roads. NEW YORK COFFEE MARKET New York. Juno 21. Under pressure of July liquidation, the market for cof fee futures opened 0 to 14 polpjrs lower this morning. HIght after the call Sev ern! brokers were offering to switch July In fair-sized blocks to the later deliveries. tN. Y. lime) July Heptember December.. March .. May ... . Did. Sat close 14,10020 14,06tl10 14.1213 14.20021 14. 10C 22 Today's open 14.03006 13.00014,00 14.01W06 14.10C912 14.14010 11 a. m 1403 14.00 BANKpjpdsjTsanow fROOT PLANS COlinT FOR ALL COUNTRIES Assets of Trust Companies, 8tate and Savings Banks Exceed Two Billions Harrlsbnnr, June 21. Deposits in the trust companies, state banks and savings Institutions, coming under the super vision of tho Department of Banking, Increased 169,000 in less than six months, according to a summary of the reports of Buch Institutions made under the recent call for statements by the commissioner of banking. At tho close of last December, there were 3,095,116 depositors. At tho time of the May call for statements, this num ber had reached 3,264,291. In September of last year, they numbered 3,037,881 and last June 2,979,103. The trust companies alone reported 1,847,732 depositors last month, a gain of more than 126,000 In less than five months: the banks 870,866, a gain of 38,000, and the savings ltl tutlons a total of 545,694, a gain of more than 8000, The assets of tho three classes of Institutions shown on the May call aggregated $2,096,703,466, against $2,026,934,922, the two billon mark bo log attained In December for the first The trust companies showed assets of $f, 433, 388, 490 and the banks $348. 116,016 In the May call. At the same time, the trust funds were shown to amount to $1,666,971,636, tho trust com panies having $1,650,904,683. In Decem ber, here were $1,692,363,976 and Jaat June $1,638,486,964. , . Tho state has 328 trust companies and 242 Btato bnnka. Twenty-seven national banks are now doing a trust business, LONDON STOCK MARKET v'V Scheme Suggested by Amerr4MM1, Jurist Would Guard Weaktr, Nations jL.i'' r ,p. 51 61 81 51 51 61 51 61 51 61 04 04 04 03 03 03 04 03 04 1 1... 1... 2... 1... 6... 5... 4... 10... Chicago A Q't Weat'n 4a 4 62 1 52 Chicago Mil A flt P 4a 2 01 Chicago Mil A St P 4a 1 03 Chicago Mil A StPcv 4s 1 64 1 04 2 03 1 "03 1 04 Chicago Mil A SIP fd 4a a 55 Chicago Mil A St P cv 5a B 04 Chicago A Nth Wtst'n ext 1 H1U Chicago A Nth West'n cm 1 71 Chicago Rail ways 6s 1 00 1. ... 62 Chicago Rock I A Pae fd 6 6. 6. 6. 5. 6. 6. 10. 1. 0. Int'l Merchant Marine 6a 1 84 ...... 83 n 85 Intem'l Paper Cu 4s 2 53 Iowa Cnt'l 4a 37 80 Kan C Ft S A Memp 4a 2 50 Kan C A 8 5s 2...... 06 1 00 Keokuk A Des Moines 5a 2-..t. 67 Kingdom Bel glum 7a 63 63 63 63 53 63 53 70 63 1 04 04 64 04 64 64 Rock 3. 0. 0 5...., 1...-. 1 Chicago I A Pac 4s 4 68 2 08 Chicago A W Ind'a 4s 1 .. . 63 Chile Cop'r fls 10 78 City Uord'x Us 1 86 1 86 1 83 City Lyons 6s 1 8 2 85 7 83 City Mara'a fls 1 85 City N Y 4s Nov '67 10 03 City NY4'61 3..... 02 City Paris fls 7 .... 02 6. 3... 1... 1... 1... 1... 4... 6.,, 1... 2... 07 07 07 .. 07 .. 07 .. P7 .. 07 .. 07 . . 07 , . 07 .. 07 .. 07 .. 7 .. 07 .. 07 .. 07 County 8... 6... 10... Kings niev'd 4s 8 53 Lake Shore M S'n 4a '31 4 75 Lehigh V'y 0s 1 03 Louis A N 4s 5 70 LAN rets 7s 1 00 6 00 5 nn 2 on Loulav'e A N Mono 4a 1 60 2 60 Mid S A O 3a 1 78 1 T Mln A '.s't L 4s 3 87 M StP A Sault Phil County cv 3 BOTs 1 80 Reading R. 4 a 3 76 1 76 2 76 18 75 Reading Co J CI Col 4a 6 85 Re pub' o Cuba 6a of '0 0 00 Rock Isl A A L 4a 1....". 62 8 63 1... 03 St L 1 M A S Rly 4s 1 07 St L A B V a) 2 01 1 01 St L A S r In 1 47H 5 47 St U A 8 Yt an pence v 22. 1. 14. 20. 3. 6. 1. 5. 1. St L A 8 tiun i Series D 1 60 St L A S Fran Series C 3 84 St L A South Wesl'n lat 1 60 St P 'Minn Manlto'a 4 15 84 So'n Bell T 3s 1 .0 S'n Pacific fd 1 TO'.i S'n Pae cv 4s 3 75 S'n Pao cv 6s 6 05 4 03 5 05 0 05 1 03 S'n llallw'a 4s 1 50 3 66 6 60 6... 66 I...!. 60 24 56 S'n Rallw'a 6s 1 81 Union Tac ov 1 70 1 70 6 70 1 70 Union Pac fd .1 084 Union Pac 4s 1 77 U K Q B I '21 1. 1 .., 02 2. .. . 02 2.1 .. 02 Vi 12 ... 02 10 . 02 13 02 3 ... 02 Cd Cln Chi It at i. 4s 10 61 Col A S'n 4s 3 08 2 2 ... 72 Mo Kan C A Tex 4 s 14 52 1 62 2 62 Mo Kan C A Tex 4 Us 1..y. 24 Mo Pac gm 4s 2 62 1 624 1 62 4 52 6 52 1... R211 Mon'a Vow 0s .80 New O Tex A Mexico 5s 1 47 1.,.. 47W N V C t II II R R 4a !.... 70 N Y C A 11 R R R en 4a 2,. .. 04U N Y C A II R R R 6s 1 88 1 87 1 88 6 . .. 87 1 US N Y Light II A Pow 4a 4 (10 N Y O A W 4s 60 Liverpool Cotton Liverpool. Juno 21. Spot cotton was quiet today' nnd prices were steady. The sales were 3000 bales. The receipts were 11,000 bales. Including toou American. Oood middling was 29,19d. against 29.14d on Friday, and middling Was 26,69d, compared with 26.64d orr Fri day. Futuros were quiet Spot prices were: American, middling fair, 31.94d; srood middling, 29.19d: fully middling, 27.94d; good middling. 26.69d: low mid dllng, 23.39(1 : good ordinary, 20.19d, and ordinary, 19.19cL Raw Sugars Quiet and Steady New YorU. June 21. The market for Snles on Friday, Just reported. Include 25,000 bags Cubas forJuly shipment nt 18c, cost nnd freight, 18.600 bags Porto Rlcos for late" June shlpmint, at 19.66c. c. I. f.. to a. New Orleans refiner: 7000 bngs San Domlngos. In port and nfloat, nt 18 Uc, c."l. f., to a New York re finer nnd 30.000 bags San Domlngos for June nnd July shipment at 18 Vic, c. I. f.. to an outport refiner. Arrivals of raws from Juno 18 to 21, Included 10,000 bugs ubas and 234 tons Brazils to the Amerl can Co.: 29.000 bags Cubns to the Na tional Co. : 20.000 bags Cubas to tho Federal Co. : 10,000 bngs Porto Itlcos to Arhuckle pros., nnd 14,000 bags Brazil centrifugals and 10,000 bngs Brazil Mus covados to the Warner Co. The locnl re fined mnrket remains unchanged both ns to conditions and prices. Prices Steady on Paris Bourse Purls. Juno 21, Prices were steady on the 'Bourse today. Three per cent rentes were qt ted at 57 francs. 80c: exchange on London. 49 francs. 85c: E per cent loan. 88 francs, 20c; the dollar was quoted at 12 francs, 53c. Textile 8hares Heavy Oils Moved Irregularly Home Ralls Narrow London, Juno 21. Adverse trade re ports had an unfavorable effect on tex tile shares on the stock exchange today and they had a heavy undertone. The oil group moved irregularly. Shell Transport and Trading waa 9 13-16 and Mexican Kagle. 9 7-16, The gilt-edged section was dull. French Joans held well. Kaffirs wav ered. Hudson Bay was 7 6-16. Mexican Railway Issues wero buoy ant, following official announcement that the lines had been returned to tno com nanv hv the Mexican Government. Home rails wero mixed, with changes narrow. Canadian and Argentine rails were cheerful In snots. Generally, the markets wero slow but steady. DIVIDENDS DECLARED General cigar uo,, quarterly or it per cent" on common. 1 per ceni on preierrea rnd 1 per cent on debenture preferred. Common Is payable August 2 to stock of record July 24: preferred September 1 to atock of record August 23, qnd debenture preferred October 1 to siock or. record Sep. tember 24. Famous Playera-LBky Corp.. quarterly of Vi on prcrerrea. payame aucubi i to stock of record July 15. Pacific Telephone and Telegraph Co.. quar terly or i per cent on prererred, payaDiv July 16 to atock of record June 30. Knet Coast Flaherlea Producta Co., quar terly of 1 per cent on preferred, pajable July 1 to stock of record June 20. Eaat Coaat Fisheries Co., quarterly of 1 per cent on common and 1 pr cent on preferred, payable" July 1 to stock of record Juno 2fl. .. . . Ducyrus Co.. one-half of 1 per cent to apply on accumulated dividends In addition to quarterly of 1 per cent on preferred, both payable July 1 to atock of record June 23. international JUrveater Co., quarterly of 1 per cent on cfmmon, payable July 13 to atock of record June 25. Northern Central Railway To , semiannual rf 4 r-r cent, payalle July 13 as registered June 30. West Point Manufacturing Co., semian nual of 3 per cert and an extra of 3 per cent, both nayable, July 1 to stock of rec ord June 23. Tim Ifamei .Turin 1 rnrntt a&ahet J ..w -...,, Huuu . .....v..n rm J, i-t for the creation of nri InternstieijM court oi justice suggested to the em mission of Jurists now engaged ben . working out the project Is one by KM Ttnnt. former American' aecretarr tat state, which provides that one paftel 4rfA'' ' HnmlM... .JIM nlnn.a Ma- If... .-l..MV La." chosen by the assembly of the IitHtewin-i of Nations, In which all tho poweniAru 4 rciircBcu.ru, uuu ...luiucr panel uy IOB , f i :i .aa4.-I1 9 M.rk lAnatiiA fa tMk f-l- Abliii K J cuuutu ui -lie icukuci iu wuitu umji'jiK, the arrent nnwera tinn, nlapea. rph, j liidges then would be selrctnl fmm tfca ' -' i two panels. iiir. j.uui uibu una poiniru out inst , some day Germany and Itussla will J uk-- nun-i ut; uunniuurvu uh among ins f great powers, nntl he has suggested tnat tne pinn do iiexiuie enough to pr. ' " mil ox wicir ueiug representee. . . - ,, All H,.l,l.l.la I. nnn.a,.. ILlL. the most important nolnt regarding? tfcel-A' make-UD of the court la that there' kT v',1 provision for adequate representation' i nf the smnll nowers. hut nt the sam', ' time they realize It Is necessary, thstj'v'i each of the Ave great powers bo assured' i', n nlnrn nn tho rntlrt. Onn rnneief tm ftf that the court is likely to consist of fifteen judges, five from tho great P0lf4' era uuu icu iruiu iuc Biumicr. V! it W Boles West wood Members Phlla.iock.ExdianaJ EQUIPMENT BONDS To Yield Over 7 Per Cent LanclTitle Bldo PhUadelphia. PHONE' LOqUSX 2016 my . II q f r X Bonds for Investment A Circular Upcn Request. The National City Company Correspondent Offices In Ootr 10 Cltiaa Phlladelnhl-i 1421 Chestnnt St. f Atlantic City 1IS5 Boardwalk Workmen's Compensation ami ' Automobile Insurance ' At Actual Cost LIBERTY MUTUAL INSURANCE' COMPAN'-T 10 South Flfter-un Street Philadelphia 33.. 2... 3... 2... 3... 8... 3... 1.. 1... 3. 0T .07 , 0 , 07 . 07 , 07 . 07 no in flfl 1.1 . t'O '. W", U K (1 I) 4 I rcta '22 3... . 03 10 I4 3 nt 3 .. 03?. U K (1 lit I rets '20 4 M. 11 Ml 10... . 88N 10 BV 1 SB', ate M Ry 4a Ju k a B I '37 3 84 , 2 S4 3 84 . 1 84. U S Mexico As B 32 S Ut'd Rds San F co.ct 4s 2s.... 23 1 23n U H Realty .is 7 81' 10 S1U U t) Rub'r r.s 1 7S, 10 78', U B Steel As NEW ISSUE i. i... i... 8... 3... 1... 3... 10... 1.. 80 H 80 80 H 80 SO'i 80 . SOU SOU 80 j 80 v9 80 V, West'n Md Is 1 0. 2 041 West Bhore 4s 1 071 Wilson Co cv 2 83 U 1 KMi R fl.t Wilson Co 1st 1 87, 1 87 Liberty .Tjs ... Liberty 2t -Is . . . Liberty 1st -His. Liberty -M 4 Vis. Liberty ad 4V4n. Liberty 4th 4'4s. Vic Notes .'Ills.. Vie Notes 4!54h.. lllnh iia.2S Wi.RS 80.72 sovjs sn.fi4 8(1.52 l).".80 !),-. 84 (N. T. tlmel 1.13 P. m. 112.2(1 8,-5.88 8(1.10 80.00 80..14 80.38 fl.1.78 D.-..78 IjOW 112.10 83.00 80.10 8.1.00 80.28 80.18 D.1.74 n,ri,72 Financial Briefs The aerage price of twenty nctive Industrial stocks declined 0.08 per cent on Saturday to 91.03, while twenty rail roads declined 0,04 per cent to 70.01. The New York Subtreasury lost 115,000 to bnnka orr Saturday, making a cash net loss since Friday o 3301,000 Total subscriptions alloted for two Is sues of treasury certificates of Indebted, ness, dated Juno 15, 1920, were SI19,. 121,000. according to the secretary of the trensury BAR SILVER Dar Mlver was quoted In London to day at an .advance of Tid, at SlHd. E. S. PARTRIDGE, President E.S. Partridge & Co., Inc., ' New York, Distributors Liberty Automobiles, N. Y. City. G. H. STETSON, John B. Stetson Co., Philadelphia, Pa., Hat Manufacturers. WILSON POTTER. Formerly Director of Thos. Potter & Sons Co., Philadelphia, Pa., Lino leum Manufacturers. BOURNE, President Biddle Motor Car Co., New York City, Formerly Automo tive Engineer for Atlantic Refining Company, Phila. S.N. 47,000 Shares Biddle Motor Car Co. (Incorporated, Delaware, 1915) Transfer Agent, Corporation Tnat Co., N. Y. All Legal Matters Handled by Sundheim, Folr & Sundheim, Philadelphia, Pa. Capital: 200,000 shares without nominal or par value NO BONDS OR PREFERRED STOCK Purpose of Offering: The purpose of offering stock at this time is to furnish addi tional capital for an immediate increase in production and for the purchase of equipment for the Company's own body plant. Plant: This Company for Sy years manufactured its product in Philadelphia, Pa. " The Biddle car was designed and built to fill a large demand for a high grade medium sized, four cylinder car of exclusive and distinctive appear ance and unusual performance. The demand proved so large and the car filled it so well that in the early part of 1919 it was found necessary to incrpase the production materially. To this end its present factory was obtained in New York City, giving a production capacity of 3000 cars per year. Directors: The Board of Directors consists of some of the best known and ablest business men in the country. W. II. LIPPINCOTT. Bioren & Co., Bankers & Brokers, Phila., Pa. VAN HORN ELY, 'President United National Utilities .Co., Electric Railway Operators. N. MEYERS FITLER, Vice President Ed. H. Fitler Co., Phila., Cordage Manufacturers P. W. COPELAND, Hind & Harrison Plush Co., Clark Mills, N. Y. II. C..MAIBOHM, President Maibohm Motors Co., Sandusky, O., Automobile Manufacturers. Management: 'For purposes of economy and to insure itself and its dealers of a maintained shipping schedule, it was decided it would be necessary to install its own body building equipment, and to this end Mr. H. C. Maibohm, President of the Maibohm Motors Company, Sandusky, Ohio, has been induced not only to make a substantial investment in the Company, but to become a member of the Board of Directors and the Executive Com mittee. This assures the Company of a man of very large experience as a successful automobile and body builder, the Maibohm Motors Company having been makers of fine vehicles since 1888. Distribution : Unfilled orders, protected by substantial deposits, are now on hand for a total of 1160 cars, which have been contracted for by the Biddle distributors in this country and abroad,. Biddle cars are sold in this country by nine well established and successful distributors' covering fourteen states and leaving thirty-four states of virgin territory in which to dispose of subsequent increases in production. In addition to the domestic sales the export markets developed up to the present time have included England, Spain, Norway, Australia, Japan, Greece and Cuba. Because of its distinctive foreign design and high gasoline efficiency, the Biddle is especially well adapted for the export markets. A large waiting list of dealers in open territory in this country and abroad have filed applications for sales rights as quickly as the production is increased sufficiently to handle additional business. Earnings: Mr. Maibohm and Mr. Bourne have very carefully gone over the cost of the Biddle car, and with exceptionally liberal allowances for advertising and overhead items, there is an average potential profit of $625 per car, which should give $750,000 net profit, before tax, on our schedule of 1200 cars per annum, or an earning of $3.75 per share on the entire capital stock of the Company. Subscription Price $8 Per Share Descriptive circular upon request It is our intention to make application to list this stock on the Nciu York Curb. A lar.e part of the above itock having been old or withdrawn, we offer the untold balance, tubject to allotment, deliverable "if, when and at iitued" and received by ut. We reterve the right to clote thit offerjng at any time without notice, to reject any and all application! and to allot a tmaller amount than applied for. Biddle Motor Car Company Factory and General Offices Wet 142d St and Harlem River . i Uinfl New York, N. Y. l 4 "M . m xn..ps MS 1 ;-. .1 9 '.V wl fim jmiijiuiipifl' , f 't-J V l.- rt lrvs.. 14. jL'.'. 2. .srvU
Significant historical Pennsylvania newspapers