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- : III PMladdphia Markets ss?55 L ,
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New Issue ' ;' -
$25,000,000
Government of Switzerland
Twenty-Year 8 Sinking Fund Gold Bonds
To bo dated July 1, lj920 To Mature July 1,. 1940
Interest payable January 1 and July 1. Coupon bonds in denom iVti2ti:
t ination of $1,000 and $500; reenterable as to principal only. &isi
Principal, sinking fund, premium and interest will be payable in New York City in
United States gold coin of the present standard of weight and fineness at the office of i
Lee, Higginson & Co., Fiscal Agents of the Government of Switzerland, exempt from
any Swiss taxes, present or future.
These bonds cannot be called during the first ten years. On any interest date after
July 1. 1930, they are callable at the option of the Swiss Government as a whole or
in part at 1 05 and accrued interest.
Sinking fund of $1,000,000 per annum payable in quarterly instalments for the pur
chase of these bonds in the open market at or below 105 and accrued interest. If
bonds cannot be obtained in the market, the payments shall accumulate to the credit
of the sinking fund. After July I, 1920, sinking fund moneys not used in the pur
chase of bonds, shall be applied to their calling at 1 05 and accrued interest.
COMMERCE: According to the figures of the U. S. De
partment of Commerce, the position of the trade balance of
Switzerland in 1919 was slightly better than the average of
the ten-year period before the war. The volume of the foreign
trade of Switzerland then reached the highest figures known in
the history of the country from the standpoint of value, but
even allowing for a general increase of 100 in prices, the
indicated volume of commodities is greater than normal.
FINANCIAL POSITION: The general debt of Switzerland
(including this issue, but after deducting the debt on account
of the National Railways, which in normal years have shown
a profit over interest and Sinking Fund requirements),
amounted to about $365,202,988 or about $85 per capita,
against which maximum wealth in 1913 was estimated at
about $4,400,000,000, or $1,125 per capita, and is now esti
mated at about $5,000,000,000 or about $1,400 per capita. The
financial credit of Switzerland is high.
PURPOSE: The proceeds of this loan are to be used in the
United States. This loan is part of a program for the gradual
electrification of the Government railway systems of
Switzerland.
'We Recommend these Bonds for Investment
Price 100 and accrued interest, yielding 8
Bonds offered when, as and if issued and received by us and sub
ject to approval or Counsel. It is expected that temporary
receipts will be ready for dclicry on or about July 12, 1920.
Lee, Higginson & Co.
Guaranty Trust Co. of New York The National City Company
A. Iselin & Co. Harris, Forbes & Co.
Wm. A. Read & Co. Halsey, Stuart & Co., Inc.
Continental and Commercial Trust Illinois Trust &
and Savings Bank Savings Bank
The information contained herein lias bren compiled from official statements and statistics. Wc do not Ruarantee.
but believe it to be correct. All statistics relating to money are expressed in terms of the United States gold
dollar at par of exchange.
Tmcorporatht
ibji
rCAPITAL$500.000.00l
SURPLUS (EARNED)
$2,000,000.00
Sixih&SprtngGardmA
jSJ'HIlAUtU'HlACSTy
C&!-5201
DtDJ
3
IF
the dollar you needlessly
spend today will buy only
fifty cents' worth, why not
save it against the time
when it will buy a whole
dollar's worth, and be
earning interest while
you are waiting? Open
an account in our Saving
Fund Department where
you may draw up to $100
at any time without
notice. Now is the time
to save and save
PERSISTENTLY
High Grade Low Priced
Bm Security
Payable in Pounds Sterling
Any Recovery in Exchange
Should Increase the Market
Value of These Bonds
Illinois (Central r. jr.
Sterling Trust 3Y2's
180G-I9SO
RATED AAA
Mortgage. Covers Chicago to
New Orleans
Price and particulars on request
MARTIN & CO.
1411 WALNUT ST
PHILADELPHIA
WorlcmcnJs Compensation and
LV Automobile Insurance
v At Actual Cost
No Uiiestmmt n too small,
nor too large to b luvrstl
Katfd tor dependability and
yttld.
Determining the, safety of
principal la as Important as
assuring a continuous and
profitable Interest return
W would b Kind to hde
you consult us
Baker, Ayling & Young
J, W. BW.VIN, Jr.. Manager
Land Title Building
Philadelphia, Pa.
Of Service
Business men who ap
preciate the service a
National Bank is capable
of rendering, will And
this institution a valu
able banking connection.
Permit Us to Explain.
Third
National Bank
Opposite Broad Street Station
Investment
Bonds
Welsh Brothers
028 Chzstnxjt Srnarr
Philadelphia
Lombard ISO
W1IEAT neoelDtn.
elovator -No,
r.iM t'ar.
"It.1
t n a
mrlet Urrelr. nominal. '(!?. i-..T-
lovator -No, 1 red vntr. ia.osJiii.
2.Paa.0! No. 4 r.
The
n ruport
s! tiv,
V1TV
, l2PS03.t)Rl No. ff Mr1 w n-
buwz.po: No. a TtA iiniiTf. trs:
lAllUV-lO) 0!-
plo accord In to auaiitv.
m.SSHfr.l'JSftJft-Wp? !?. nr.roor.w
i 0B7 the Kifir.or No. lTt)Z. al " 8"
i.JilTri1'"1''' .B83 bush,
late decline. Car lota u i i
ntmA nt
a . . ' " Vt.
i ,T,h,& frlM-mZSi. 2 Vh0..l0ili o
$1 3701 28. ' . wo. 4 wmie,
Ibf IB aTu."" M0 bW- "' l."'1n
iinA., innf&' QV'et .b"t eteady. Quota
tlon! 10 lbs. packed n HO.lb. lute Mcka
alr'al.hl VlV'm.'Sv75 ,si hard w!lUf.r
ii?a,an.,1!-??,,!l7" do, ihort patent.
tltrl4,S0: nnrlnir flret. clear. llt.nnWUl
li'i Wi 'n' Ji8li13 00! do. Vhoft patent.
nif.it ri Jul 'ncy. Pr'nr and cltv m Ha
nourvotes:1"- M-- e
rHOVlHlONH steady. neef. In e't.
IS!?1!.!!"1 If-'fltd. B3o: do. knucklfi
JJmii? ii1?' ,n,,0M and alr-drled. ,S) I'ork.
anc: do, eklnned, loose, aaesic: do, ao.
iinoKea. HMfl'-WCI HO hnltMl. hnn.lMH. BKO.
ik
se lJrenKlail bacon, aito: t.nrri
iA?rAJ."hoA,i?zpr" H.- V- cured', loone, 2c: do.
5Vi i...t.Jiri . "eie, in picxie. "
liHc.
KtBBt
"'T,,,.rt?,irt lata decline,
tlOUK!
extra
ooee.
ilMr.
Quota-
coiia-packed. creamery.
Irate. BdOATci flrsta. fllWOSo: seconds.
r, rnoic
iiiXJya6Aoiei:s?r-..MVksiJ
ll.qpnoci.iweet cream.rv.
0V402Hc: flr to (rood. nH.inWc! prints
fancy, hyh-
ce to fancy.
Jobbing; at 0TH0o for fartcy and at BOWUUa
ror rair to choice.
hOUH "Fin Rlncl. .AI.VMA A (.IbI.. OlIA.
latlons: In free cases, nearby firsts. 48o per
Tork
IVt
dozem nearby current receipts, -lie: nearby
orumary jo rair. 42Q)44r, western extra
flrets, 47W4fci western firsts, 41'4ci sec
onds and poorer, 80041c: related fresh
CR!,..iviVi'l?'t .?. 07W5UC nor cloven
CltKESK Steadily held, New
wnolo-mllK flats, current inn kit. fnnrv.
v.oui v. uummon to rair. 4(if.c; ao,
IOnthomS. 28SH'HUr! An Mln.lx r)all..
28W2DC, '
1.1VH FOULTUT Fowls, not Leghorns.
ftltXv hea- 304;iTc: do. light to medium,
843;e: whlto leghorn fowls, 82033ci broll
jng chickens, fancy, yellow-akin, not Leg
horny, weighing- lj. CPS lbs. apiece, tMOTOc.
brolllntf chickens, fancy, vellowekln, not
Leghorns, vrelghlnir 11'4 lbs apiece, BB
LOe. white Whorn broilers, weighing iU 0J
Iba apiece. 805Jo: whlto Leghorn brollem,
smaller s ios, 4O04Scj old roosters. 24W2tlci
ducks, old, 2830c: do, spring, 38037c!
per pilr. 40c,v" ""r' v0, uo. ,oung,
i.n?'iE8iiS5Di ?OUI'TRr rowls fresh,
tilled, dry.plcked. In boxes Weighing 15
lbs apleop. 42o. welghlnu 3A lbs . 3tlO40ci
weighing 3 lbs.. 33a87c; fowls, fresh-kllled
In barrels, dry-picked, wrlghlng 405 lbs.
nplcce, 40ci e hlne 34 ii,s .ttbt'ib,..
elgh.ng 'lb... S3 8Bo. broiler's, vi??:.
dry.plcked, not Leghorns, iUd5c; broilers,
western, whlto Leghonis, B8t)0ci old roost .
nVaVnaV. .iV- i :"?"" -,c' "" aoumern
lHi2;-2Spcfr,t Fla- FT box. 3 20HTB 80.
nij'"?."'.,';"16 ,,,iai8 1'eaches. On.
?Zl "AnJiiE.3- Watermelons, ria.. per
?tr.nrt?2S?J,.0, ,H!,n,alouP"'' western, per
tctsndnrd-crate. 13.-,: do. nulhcrn. i.V nZl
ernte. I15TI."i
dfSiV'
(iff
Hi)
Illn itrliArrtA hah mi a, w
aoomlvrri.. - " -..'-.. "? lii'. .
ucklcberrles. per quart, 2B30c. 'currants'
lnt.qTa,12c0.f,18c- na"""- Jerw?nMf
i.ut.iAiii,i:s-whlt rotatoes. southern
p.r barro No. i oran m v. .: ;".?."
I 13 nop: l,lt0 riotutoeV. v'jVrsVy. per :
buh"l ba;ktt. No. l. 2 132.2S: No. 2.
1 in ISSi ih ,Cabbage. lVnnii . per bafrel
t2.iOV3 21: do, Jersey, p.r bnsket. 03cll
I unions, Jersey, per basket, 4000c.
j BUTTER, EGGS AND CHEESE
.""'f' ySrk.,.Jul' 7. nUTTEn Rteady. ne.
eclpts. -2,s,,lAu.b." Creamery, higher than
extras, JWHWBSVtc; creaniory, extras (02
';'','?',lt'ATf creamery flrs'a (88 to 01 score).
NfAlWWr." ht0t- CUrrenl mo'""
nods Firm. Receipts. 10 flit cases.
rr"h gathered, extra Orats. 48ffSOe: fresh
, gathered, firsts, 43ffl47e. state. I'ennsjlva-
iu unu nrnrox wtBitm nenn.ry unites,
flms to extraH B2W01O, slate, Pennsylvania
and nearby gathered browns and mixed col
or, flrnt In .strfls 4!fbHn-. .B,A tiAH
s.nnla and nearby western hennery
browns, extras. B3MB0o.
C'lIKESE Btearty. necelpts. B101 boxes.
Stole, whole milk, fats turr.nt make, white
and colored, epeclali. 27WW2H14c: do. aver.
age run. 2(lU27c: stn'o, whnl.. milk, twins.
ipeciais, i7UCJ2Tci do,
-"-
V'NCORPORATEDiSyy
Close of business Juno 30th, 1920.
RESOURCES
Ixnna nnd Investments. . .7,169.078.43
United States Bonds 395,400.00
United Stntcn Bonds to
Secura Circulation 160,000.00
Ui 3. Treasury Certificates 330,000.00
Dun from Banks..,! 548,448.70
Customers' Liability Under
Letters of Credit 15,840.00
Cash and Reserve. ....... 920,(01.53
J280.000.00
867.729.33
143,800.00
$9,530,268.66
LIABILITIES
Capital Stock
Surplus and Net Profit).,.
Circulation
V. H. Certificates of Tndeht.
Borrowed 105,000.00
Bills Paynhle nnd Redis
counts with Federal Re
serve Bank 305,000.00
Reserved for Taxes atld
Interest 11,842.85
Reserved for Depreciation
of Securities ,,.., B0.000.00
Letters of Credit . i 15,840.00
Deposits 7,751,056.38
$9,530,268.66
FRANK ADSHEAD, Cashier.
Front and Norrls Streets
rhlladelpliin. Pa.
June 80, 1020.
, RESOURCES
Loans and InVestmciitB. . . $9,882,682.24
Accrued Interest 45,643.62
United States Bonds 200,000.00
Banking; House 200,428.24
Duo from Banks 1,007,504.34
Clearing House Exchanges 160,415.71
Cosh and He serve 1,232,039.75
Customers' Liability a o
of Acceptances 50,000 00
current make.
ncrae rtin SrtffJi
"to
Total $12,778,713.90
LIABILITIES
Capital Stock 1500,000.00
Surplus nnd Net Profits. . 1,282,778.81
Unearned Discount . . . . 34,937,90
Reserve for Taxe-j 17,386.03
Circulation 103.100.00
Indlvldtinl DepoMts 9,606.281.16
Duo Federal Itr-ere Bank 1,134.230.00
Bonds Borrowed 60,000.00
Acceptances lJecuted for
for Customers 50,000.00
Total $12,778,713.90
John G. Sonncborn. Cashier.
i
CHARTERED By CONGRESS 1781
o NATIONAL BANK 1864
North America
30r Chestnut Street
OFFICERS
E. PUSEY PASSMORE, Preiident
R. S. McKINLEY. Vice Pr. ' E. S. KROMER, Caibier
W. J. MURPHY. Am. C.ihier C. M. PRINCE, Ant. CaiLier
J W. WHITING, Am. Caihier
DIRECTORS
LINCOLN K. PASSMORE
JOHN W. PEARCE
JOHN P. GREEN
GEORGE FALES BAKER, M. D.
N. MYERS F1TLER
CHRISTIAN C. FEBIGER
J. HOWELL CUMMINGS
W. PERCY SIMPSON
WALTER H. ROSSMASSLER
CHARLES B. DUNN
HORACE E. SMITH
HARRY S. EHRET
EDWARD F. HENS0N
THERON I. CRANE
GRAHAME WOOD
W. KIRKLAND DWIER
WILLIAM F. READ, JR.
CHARLES 0. ALEXANDER
LEONARD T. BEALE
MARVIN A. NEELAND
JAMES D. C. HENDERSON
WALTER ERBEN
E. PUSEY PASSMORE
June 1st Dividend
on
Cities Service
Company
Preferred Stock
was paid to
19,410 Stockholders
of Record
A wonderful evidence
of confidence in this
Investment stock.
Circular "P" on request.
Henry L.. Doherty
& Company
604 Morris Bldg.
Philadelphia, Pa.
l'lioue Locust 1410
Do You
Know
that in the last five
years the gross sales
of one of the leading
5c and 10c chain
store systems have
increased over
100?
Send today tor letter
P-33 which contains
many impressive chain
store facts.
GEO. A. HUHN & SONS
STOrKR ANT 1,.rVT)S
Mrntbrra uf (lie rlilladrlidiltt. New
York and rhleusn Htork Ktcfianxes
New VorU Cotton Kirnanie
Commission Orders Executed In
All the Principal Markots
HLLLKVUK tOOKT riLDCJ,
1418 Walnut fit.
NEIV TOIIK CIYVIC.K
Boles s-Westwood
Member Phila.iock Exchange
SWISS GOVT.
Sinking Fund to, t940
LandelftleBldPhlladelphla
PHON&WQUSicuio
George H. Burr & Co.
nirstment Securities
421 Chestnut Street
Philadelphia
THE REAL ESTATE TITLE
INSURANCE AND
523 .CHESTNUT STREET . TRUST CO.
' ' OF PHILADELPHIA
At the cloie of business June 30, 1920 '
ASSET?
Cah on Hand and in Banks. i ce,7 eQ, -.
Exchanges for th Clearing Houm iSbSm
r-!! I v. Ut. ri-tl-a 1 "'
rru m' r" .?AL,' 111; 3.666,196.21
I
RnnJ. Z"
StE ." Z726,66l.7l
Worjage. and Ground Rents ItSS
tsca
S&te :::::::::::: :!::: 4
Muoellaneou. Assets . . ' JHLSJ
$10,872,271.15
. LIABILITIES
sZ'S ; '' .4O4,46O.O0
Si3MiMfaa:::::::::::::: $$
5r.!5 z s-ption. . . . ; : : ijj jgj;
DesiU 77,051.38
Bill. Pay'abio ' (Smed bV ' United' Stat'e. 5,90'760-20
m :: zz. rt ij-ss' 270,000.00
Miscellaneous Liabilities
27,815.60
. . , . $10,872,271.15
inaz runas Kept separate and apart from
Assets of Company , $19,359,171.66
FRANCIS A. LEWIS DANIEL wm spmam
Treasurer
President
REPORT OF
Philadelphia Trust Company
At the Close of Business June 30th, 1920
RESOURCES
Cash on Hand and in Banks $3,826,040.14
Loans Upon Collateral 15,252,220.15
Commercial Paper Purchased 846,973.00
Investment Securities 8,65 1,9 15.48
Real Estate 706,391.88
Net Accrued Interest and Other Items
Receivable 21,715.08
$29,305,255.73
LIABILITIES
Capital Stock $ ,000,000.00
Surplus . 4,000,000.00
Undivided Profits . 1, 15 1,540.85
Bills Payable and Rediscounts (with
Federal Reserve Bank) 3,706,820.00
Deposits 19,446,894.88
$29,305,255.73
Trust Funds $163,000,000.00
Corporate Trusts 171,000,000.00
HENRY G. BRENGLE
Preiident
JOHN C. WALLACE
Treasurer
ftVTVAC
TRVST
MAIN OFFICE
BOURSE BUILDING
BRANCH (25 So. 60th St.
OFFICES 2809-11 Germantown Ave.
AT THE CLOSE OF BUSINESS JUNE 30TH, 1920
The Centennial
National Bank
Philadelphia, Pa.
At the Close of Business
June 30th, 1920
RESOURCES
Loans & Investments.. ?5,486,150.13
Duo from Banks 418,416.90
Exchanges for
Clearing House 306,609.66
Cash and Reserve 786,194.16
$6,996,371.05
LIABILITIES
Capital $300,000.00
Surplus and Undivided
Profits 679.78G.30
Circulation 103,100.00
Bills Payable (Federal
Reserve Bank) 470,000.00
Deposits 5,353,484.75
RESOURCES
Cash nnd Reserve. . .$530,347.80
Stocks and Bonds. .. 523,654.22
Demand I.ouns with
Collateral 1,301,500.87
Tlmr I.nnns with Col
lateral 204,413.00
Nates I'urclmsetl .... 707,042.83
MoiignirsK Owner!.... 70,000.00
Heal K'fate 137,040.43
Furniture anil fixture 8l.731.lt)
$3,547,326.40
LIABILITIES
Capital $438,043.00
Surplus ,50,000.00
Undivided Profit (less
Kpene Trtlcl). . M.50JSJ
Illll Finable (Perureil
by Liberty Bonds) . . 75,000.00
DEPOSITS,
$2,894,780.18
$3,547,326.40
OFFICERS
S. F. SCATTFRCOOD, President.
SYDNEY STREET, Vlee-pres.
F. C. HANStl.U, Vlce-pres.
D. D. McKlMME,
Manager Credit Dcpl
DIRECTORS
WM. II, Klfi.r.K
WM. B. KESSLER. See. and Trs.
W. J. SMEDLEY. Ant. Tress.
W. S. CALDWELL.
TltU and Trust Officer,
WALTER S, nrpVlLCR
JOHN . W.Kt'K
Jr.
V .! IIAN8l'.l.r
II. V. IIANHKI.I,
'. I'. LAUKIN
JOIINK. HCATTF.nCiOOn
I 8. r. HCATTKROOOU
8nKY fiTRI.KT
JOHN C. MU'KOX
United Gas Improvement
1 Comulative Preferred Stock
Net AHsets Per Share, $781.73
Earned 1919, $3,785,340
Dividend Required, $427,210
Free of Penna. State Tax
Free of Normal Federal Tax
50 and Accrued Dividend
C ireular oh Request
Townsend Whelen & Co.
405 CllEflTNUT BT.
$6,996,371.05
IRWIN FISHER,
Cashier
We Recommend
United States Liberty
Bonds
WUIBuyorSeOlnt
Stock Exchange Prices
EDWARD LOWBER STOKES
20 South 15th Street
PHILADELPHIA. TA.
Liberty Bonds
and
United States
Certificates of Indebtedness
ALL MATURITIES
BOUGHT, SOLD AND QUOTED
Write or Call Our Securities Department
Telephone Spruce 1480
Commercial Trust Company
Member Federal Reserve System
City Hall Square
(HTY MUTUAL INSURANCE
111 Broadwur. Jyew York
COMPANY i
pemn piren i-niiuno"
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