EVOKING POTMO LEDGER-PHILADELPHIA, FRIDAY, .JULY 23, 1920
PRICE MOVEMENT
CONTINUED MIXED
Conflicting Tenor of News De
velopments Puzzled the
Speculative Following
cnci sales totlny on Hie Nnw York
reliance, iw compiled by the Evening
ftuii. totalMl noltoslinrcs.
w Yorl. .Tiil.v ai. The Now York
Ercnitii: Snn'H closing financial review
today aya:
Thi ronM'tinfi tenor of news ile
!opmcntM piistlctl the ncciilntlve fol
Inn Ins In tlip stork mnrket nml resulted
To Holders of
Cities Service
Company
Convertible Gold Debentures
Series C, Seven Per Cent
uM.rs nt the above Debcnturea may con
vert er Aniint 1. 102?- or on the, tit st day
efsny mnnlh there tier, ten per centum
finS) of the sKKrcsate principal amount of
Sirles C Debentures owned liy them resper
SJLiV nn July 1. 1H20 Converlon mum he
rwueifed bv such owner, prior to Aucuet 1.
ffi or prior to tho first day of any month
thfreafter. and upon delivery by them nnor
IKJS Auiust 1. 1020. or on or before tho
flf day of any month thereafter of the
rihVntures en dee red to be converts tprop
Prly endorsed. If realstrred to Henry t..
naWty Company. Fiscal ARents. such
nSlniurfi will be converted lnto Cities
Me Company Preferred and .Common
Stocks on the basis set forth In said Deben.
.!? i certlnrates for which stocks will he
mU and transmitted to auch owners In
i", .mounts respectively due
Henry L. Doherty & Company
Fiscal Anents. Cities Service, Company
yi ni rii-v ic"
DatM Julv 21
1'-"
A YOUNG MAN
desires ' connection with
progressive business house
as assistant to executive;
college education; natural
ability and year's business
experience fit him for posi
t i o n of responsibility
where earnest effort and
conscientious work nro ex
pected. Address B 633,
Ledger Office.
THE VALUATION OF
COMMON STOCKS
A booklet of tremendous interest
sent free on request.
NEWBURGER,
HENDERSON
Members New York and
Philadelphia Stock Exchanges
1410 Chestnut St.
Stenographers in New York Bank
Excellent opportunity In laruo downtowa
(ink for capable, experienced stenographers
under 2.1 years l'nrmjriuit positions, ex.
cellent working conditions Oood salary and
lunches. State ukc, education, experience
!4 salary expcted. Write
E. V. f. IIOOM 701
11 West 44th St New York City
Workmen's Compensation and
Automobile Insurance
At Actual Cot
LIBERTY MUTUAL INSURANCE
COMPANY
Knuth Fifteenth Street Phllad.lnbtt
New Issue Tax Exempt in Pennsylvania
West Penn Power Company
First Mortgage 7s
Dated March 1, 1016 Duo March 1, 1946
ABSOLUTE FIRST MORTGAGE
Net earnings 12 mos. ended May 31, 1920 $2,201,380
Interest charges 951,680
New power plant nearing completion increases
generating capacity 44 c.
Franchises, with trifling exception, unlimited as to
duration.
Territory served one of the largest power con
suming sections of the world.
Price and particulars upon application.
A. B. Leach & Co.. Inc.
Investment Securities
115 South Fourth Street, PhUadelphia
Fail ' ' iiiitiiiiuiiiitJiini iiiiiiN.iiim nut mil iiiiihiiiiiiiiif mum nil 1 1 Mill nil
m
STATEMENT OF
b The Industrial Trust, Title & Savings Company j
1946-52 North
July 22.
RESOURCES
Cash and Reserve . . $099,093.73
Loans and Invest-
vestments 8,902,254.13
Commercial Paper
Purchased 62,566.25
Real Estate 14,400.00
Hi Bankintr Housp . . . n Kin nn
Total . . .$10,039.864764
I
OFFICERS
JOHN O. r.MIRi'TII. President,
.i'tf.i.7 P?:hS. Vl.ee Tres. A Treua. I
io,.i: e:1 ?r.- arr.'- Asst. irnn,
-- ,ru"t nmcer. 1
Trust Funds Invested
Trust Funds Uninvested and
Distribution
Total TruU Funds
(All Trust Funds Kept aepnrnto
or me lompan.r.)
fin 1 ill
LIBERTY BONDS
Bought, Sold and Quoted
Call, Phone or Write Liberty Bond Department
West & Go.
1417 CHESTNUT STREET
. bprue. ,66 .hlldrtphff '".!$? Kxehan..
, new inn, stnik
e AIhuj. Hate nil I' n 1 1
In another Rcwion of IIsUchb trading
nml mixed price changes. For n brief
spell In the forenoon stocks displayed
fair activity on tlic buying side, but
after prices Imd been mnrked up a
P0'nt or two the movement Kubslilrd.
lalk of another world wnr on an out
growth of the Polish situation would
nave proved more disturbing to the mar
ket had the rr-tmrfa heoi, taken Mnrl-
oualy or had the 'sharp list been In
anything but a strong technical position.
The foreign exchange mnrket, on the
other hand, miidp direct response to
the unfavorable I'uroppan news, sterling
exchange dropping 4c to $3.70. the
lowest figure reached since early spring.
Marks, lire and francs were also un
settled and lower.
An an offset to the foreign news
there was the asurnnce that a general
railroad strike wns highly Improbable,
and the optimistic utterances of Judge
ftrny respecting lnbor'n Increasing effi
ciency and the outlook for prosperous
industrial nctlvlty. While these Items
received favorable notice they failed to
stlinulntc the mnrket to any extent.
There wns no uniformity to price
movements. Ronl ' Dutch and Shell
Transport, for Instance, were weak and
1 to i points lower in sympathy with
the dpclfnc of securities In the London
market occasioned by the Itusso-Pollsh
situation. At the same time n few
I'lnselv lipid specialties such ns lions
ton Oil. which rose OVj point to 100VS,
were decidedly strong. Mexican Pe
troleum climbed nearly ,'l points to above
105.
Itnllroad shares agnln gave evidence
in the early trading thnt the lino of
least resistance for them was upwnrd.
but Improvement here did not continue
in the face of thp afternoon selling
which developed in some of the Indus
trials, causing them to cancel eurly gains.
The professional element, which was
pretty well In control of the mnrket.
favored the benr side and hammered
the leather, motor and sugar stocks
again in nn effort to uncover wenk
spots. American Hide and Leather pre
ferred receded more than ,T points
under this pressure. Kndicott-.Iohnsnn
went below 82 and the inptor issues re-
eiled 1 to a points from their early
highs.
The bear drive ngninst prices became
more vigorous in the late afternoon
nml with the speculative comuiunitv In
n highly uneertnln frame of mind, heavy
selling came into the mnrket ns soon as
prices started definitely downward,
llnldwln quickly came down from n high
, of 110 to under 11(1. Mexican Petroleum
fell under 101 and Stroinbcrg broke be-
low t-G.
LIVESTOCK QUOTATIONS
Chicago, July 2.1 CATTI.i: Receipts.
I 4000 head Oras and henvy eteera slow,
steadv , good scvrllnit handyvvclght, steadv
to Mrontr. no cholie on sale: Rood llsht
steers. $1." Snffrin, heavv beeves, $10 3.",:
(bulk, ull welsht 12 IflQiin, lust "she"
I slock, calves nnd hulls steady; medium
rows droit Rood and rho'to veal calve?.
tliKllt ."id top U7. etnrkers stead
I 1IOI5S Receipts 22 (100 hcud Opened
steady to l.'c higher advance now mostly
'lost, earlv top, lil ,10 late top. T3I1:
i bulk llchl nnd llsht butchers 1.1.,10jf
111 no, packing sows, 114 l.lff 14 40; pltrs
strong
i SlinEP Receipts IS 000 head Lambs
steady to IV l.iuer sheep month steady,
rbolre Idaho lambs IIS nn, top native Iambi
J1.121, bulk I12S14 VI. cholre Montana
ivothera 51 7.1 top nallvo ewes, IS, chnlco
feeder lambs. $13.7."
I Pittsburgh, Iul 51 HOC'.H Receipts.
300(1 head Uvwer l(eies till 40'2rlil1."iO;
hen orkers. tl t ." if 1 7 'J1. IIkIiI jorklrs.
1 nc, -, ifr iii r.n; p'cs si.i.snfl it, 7S
i Slini:r AND t.AMHS Receipts t)n hail.
Stead. Top heip J10 .ii). lop lambs, J1S ,V)
CAI.Vi;S Receipts. 300 head. Steady.
Top, $1S
Kn.t ItuiTnlo. N. Y.. July 2.1 CATTI.t:-
iReitlpts. I.'O head Sinn. t'alMi, receipts
linn. t hUlier. Jflliyn
' lirxiS Receipts 2IH0 head Light. lOe
to l.V hlKhcr Hea Tlrt."0Wt7 mixed.
I7 "iO 17 .".0. jorkirs, l" ."ill 17 il"i, llsht
do. IliWti.'iO Hies, J17; roushs. JI3
13 2.1. st ins ISfilo
Slli:i:r" ASP I.AMIIS Receipts 200 heart
Market ."('(. higher l.ambs. H(i tn .,n,
1 eurllnRs $7fi 1.1. wethers. JO .".()10.."iO;
jowis, $3tf9.."i0, mixed sheep. $0.30 10.
F,rst of Spansh onion Crop Arrives
N,,w York. July 23. The first of the
new Danish onion crop. 31.715 crates
.t'-r.Mnl'Vont'venola Ky'
'were coiiblimea to American Importers.
F3
E;
Front Street
1920.
LIABILITIES
Capital Stock $500,000.00
Surplus and Undi
vided ProfitB
(Earned) 1,303,967.84
Reserves for De
preciation and In
terest 190,000.00
Dividends Unpaid . . 3,635.50
Deposits 8,040,260.70
Total
.$10,039,864.04
llnrrr V. Hand. Vice 1'res.
nnlrl Porter. Assf. flec.A Asst. Trras.
umrr r. Van Iian. Asst. Tr. Offleer.
$4,028,625.72
Awaiting
168,539.58
$4,197,165.30
and npurt from tho Assets
Krjslonr, Kuce !90l
Kxrhanrr
1 t lll.li lir.ule llonds
NEW YORK BOND SALES
Summary of Individual Transactions on New York Kuhange
tSAt.KS.IN tiooo
Amer'n Ar k
Chem Ea
City
Tarls o:
Mln t Pt I. 4S
as.
.. l:ii
4 87
3 D0H
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02"i
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2 aji
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1
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1.. ..
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77
77
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7814
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5 ...
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7 074
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80
7711
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B 21i
7
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Mexico os
1
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S. 8714
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Ter'l It A of
0 K of O llrlt
St I, 4s
1. 0Ji
I'd JU3T
1 8S'4
1 834
Third Ae 4
8 & N Alaba'u
3 .
ion
l'ac ci
70S,
l'ac fj
. 71
704
1'ae 4
sou
U H llub'r Bs
Jill As '03
B 70V4
Union
1 77
10 .... 77
1 77
2 7T
1...
E'n l'sciric cv
Uilon
B 034
2...
1
S'n Faclflc fd
V Kmelt n't
A 72
Union
& M'g Co fis
8 . . 00',,
1.
4.
4
S'n
72'.
1..
1.
. . . . 7.1
HO
U 8 Pteel As
. 72'4
V K of 0 llrlt
2 00'4
2 . . 00
2 . 00',
1 .... 00
3 . nob
Vlralnia Os U
Ilrost Ctfs
ft 00
ft . 00
Pacific 4s
& I'd 1021
. .. 04'4
DO',
not,
not,
no',
nn
nns
no '4
I'0't
nn'4
3. . . 04'4
B'n l'ac cv 4s
3 ,n'
B 7.1
a... 73 v&
8 n l'ac cv sjj
10 Oft.
Va Rawys fts
2 n.v
. 77
I 7.1 '4
n ... nss
inn.
1 0.1
U K of O lint
W n l'ac'c 1st
4 0B
tt I'd W2
ft . 71
2. . . 701,4
7 70 ,
2 711 U
West Shore 4a
3 . . 00
10 CO
West S reic 4s
1... . nr.Mi
10
14.
17
1.
21
02 V,
112 S
021,
!2',
112',
So'n l'ac Ter'l
1 '!';
2 . . . . 04
S'n Hallw's 4s
2 ft
2 ft
J..... 88
ft .... B7
8
112'
U K uf a Urn
S. I'd 1020
1
(ison
1...
11
Wilson
. 00M,
Co cv
. 8ft
8.1 Vi
Co 1st
89
ST
87 u
87',
S'n ltsllw's As
4 70
2 70
87
B -4J
Total. $n 414,000, compared with $7,808,
000 yesterday Thus far thl eik. 342.
11 '1,000. Same period last week. $33,U41,
000. Illch
ni.02
8,-,(l(l
si.n
sn.'jo
8T.(IS
sn.ao
sr..i2
n.-.so
!I.".7S
1 ,ow
onss
."i on
fit 01
Sl.iKI
S!) 00
sr, in
!1." 72
Si." I'd I
Liberty .TVjm
Liberty 1st Is ..
Liberty 2d 4s ..
Liberty 1st IVis.
Liberty 2d 4 Vis.
Liberty M 4 Vis.
Liberty 4th 4i',s.
Vic XotesSJiH .
Vic Notes 4!J4H. .
1)1.00
fc,.no
si.so
Mi. 10
S4.01
Mi.ns
S.-.2(l
So.SO
H5.7S
Philadelphia Markets
WI1I3AT Receipts, ft'J.lO'i buh. Is Mar
ket larKely nominal Car Iota In .'port ele
vator No. I red winter. $2 0.1TI 2 is. No 1
hard winter. $.'.0.1ffl2 ns No 1 rd winter.
Farllrkv. J2.II0W 2 0.1: No 2 red winter $2 02
fT2n.1j No. 2 hard winter $2 n.'T 2 ni No
2 red winter, garllckv, $2 87 "2 'in No 3
red winter. $2.8nW2!lJ, No 3 hird winter.
2.802 02. No .1 red winter Rarllrk. 2 84
d 2 87: No 1 red Inter $2 !', 2 vs - 4
hard Hlnter. $2 Sftff! 2 S. No 4 r.d winter,
carllrkj. $2 SOWS 83. No .1 rl inr, $2 81
fj HI, Nn ft hard winter. S2Mr2s. No.
.1 red winter, (tarllcky. J2 70ci2 7n Sample
uicnrdliiK tn quality
1 CORN R.celpts. 7'.i bu.h. Is MVkr'
dull nnd uni hanged We iiunte is 'n 'Hi.illlv
and location, it $1 78Ti 1 s 1 ), l.ut.r for
I No. 1 llOH
OATS it, celpts 7420 buln l yu' t but
Irtrndi, Car lo-s -is tn ImMtlou , 1 white.
' 1 275r1.28: No 2 white. $1 ji.'i 1 JT N'n 1
white $12251123. No lhln l.nrt21
H.OUR Receipts, 1,2,12 il7H r muds
Dull and hirelv t,!til
fju ii vtlons
iui, in , pi, nil in nn in lui
white, Mfmlehr we. let n 11"
ii K
i tj
toft I
'" '
'do. nearhv. $11 Tftsi 12 r,n. hard winter
Mr.ilRht. 11.1 2.1TM.1 ;.', il.i short i i in Jit
HI! 30 prh,7 0r- . Irar 112 i I.' ,1 .In
pttint $13 atl 'f 1 4 2.1, do short pit. in $14 2.1
ft 1 1.1 fancj sprint ind iltv i,ul!- pilMit.
famllv bram',. tIB .10(r IR 2.1. Il. Hour,
$12 .10 of 13 2.1.
PROVISIONS eteadllv held The quo.
tlons nic. Ileef. In sets smoked mid nlr-
idrbd. Tilo, tin. knuckles mwl tender smoked
and nlr-drled 14c: pork Ltmllv $17 hams,
S P. Hired loose miflii'ji-, do .klnnecl
loose 4314.14, , do do nmollcd r!4.1',i.
do. bolted, bonelee,, 00c nknlc 'liould rs
S P. cured loose. 2.1c do xmnkid 20, ,
belllrs In pickle loohe, 21c, bre.ikfa.it
, bacon. :itl, , lard, 22c
HI'TTUR Weak with solid-packed cream
erv 4r Umrr The quotations w,ie .solid
. ''. t.itiie-ii, i. in, , iiii.iirciriiiK tiri-i-,
'is !"' "' extras. .174 .. t.'.tr, Orsts ft"4
"iftii'.,,. nrslH ,12ft 1.1,. ".iiitidf Hi 11, ,
Beab'd A Ii fd
1 40
in--, ,1-wrei 1're.imer.v rnojee io i.itn ri'i1, f
1024 C'1'4'. fair tn fcood. ,11W.1s4i prints Job-
,,,.. blnw at Ailroflt- for fancy und at .",tlf tltlv
1024 I r ,,llr '" ,h,,uc. ,
1024 ntlUS Pine tggs firmly held. Quotations
Mi1' I arr In fre cases nearbv Ursts "i0'f?.12u
.,.r,,, I Vr dozen mnrbv current receipts lie. near
10.4, by nrcllnnrv to fair l4H,r western extra
1II2 rtrsts ..l4.-,2, . wcfieru firsts l7U.10o. sec
1024 ""'Is it ii.l iHinri-r .1i"ff41c. fanc candled
r'l - innptiiL' at oiji'Mrje,
' CHi:i;sr sold falrlv and ruled steady
vjuine" ..w voric. wnoir-inii'c nits current
nink, fum v 274 '? 28c do tnmninu to fair
2Ki2,i,lo Lonsshorns 274 1 -"'4 c slncle
I'atscs 274Ti"2'4c. Jobblnir salet of fano
held goods 21117 30c.
I.lVi: rOl'I.TRY I'owls not leghorns
fnio-v heavv ,inef40c. do light and medium
?'..?"' "hlle I.tKhnrn fowls .14 31c
lienlllng chickens, fa-icv vniow skinned not
l.ekho-iis wlchimr 14 D 2 lbs npltce s
ftnr broiling chickens, fancv vnvr
sklnned not Leghorns nviKhltu- 1&I4 lb
Hlileie 40W41C white Leghorns broilers
w U-hlllg 14 TJ la lirle,e ,1S, 40r whit.
L'Klinrns broilers, smaller alias 3.1 ir .17,
Today's Investment oppor
tunities1 due to the 60-cent
dollar In many cases prom
ise to oNtpiid a high yield
over the years to come
Yet. although present condi
tions havo caused higher In
terest rates, the factors of
safety remain unchanged.
The tnoro profit promised
the greater the need for first
assuring safety of principal.
Baker, Ayling & Young
J. W. SWAIN. Jr.. Manager
Land Title Building
Philadelphia, Po.
P. C. C. & St. L
(Pan Handle)
Stock Certificates of Dep.
Fractional Bond Script
Bought and Sold
Martin & Go.
1411 Walnut St.
Philadelphia
GEO. A. HUHN & SONS
hTorKK r.n nnMT!
Members of the Pbllidelnliln. Veir
lurk and llilmco Sloel, i:rliuncrs
.Nrw York Cotton Ilxrhanuo
Commission Orderj Hxscuted in
All the Principal Markets
iinu.Kii'K t'pi'iiT ni.no.
I41S Malniit st.
Nl'.W YOHK cil-MCU
HI llroadvvio, ,,. lork
Armour & Co. 7h, 1930
Cleveland Klect. Illuminating "t-,
1933
Hcrshey Chocolate 7'sS, 1930
Keyhtone Telephone 5s, 1935
V. Gi I. 6s, 1921
B0ENNING, GARRISON & CO.
.STOCK KXCIIANGR liril.niNO
Members Phlhi. Hlork Hrhun-
Stockwell, Wilson & Linvili
Certified Public Accountants
.Title Bldg., Philadelphia
i
I
old roosters, 232flcs ducks old, 2ROS0C!
sprlnr, anajc, pigeons, per unit InffiSOc.
IMinSfiF.D POULTRY Fowls, fresh-killed,
dry-picked. In boxes, welRhln n lbs apiece.
41ci welRhlnR 4 lbs 42c, weighing 3'4 lbs
8940c wclKhliiK 3 lbs., 3.-,ft.-l7c, fowls
fresh-rflllrd in barrels Iry-plrked. welghlnK
4M.1 lbs nplere tic. MclahlnK 3H lbs , 37i
aSi'l weluhlnK 3 lbs aSMSftc. lirollcra wist
ern dry-pkkid MifrhliiR 1V4 2 lbs apiece
ftftMOOc; htnllers western, smaller sixes. BO
t B2ci old roosters, ilr -ricked, western, 27ci
do southern 2," tt .'in . sprlntt ducks li. 1
3."c.
KRKSH FIlt'lTM Anntea. .lernev. tier bas
ket No 1, ftOcHIl 2.1. No 2 nnd drop, loff
fiOc. Oranies, per box. $2 7BW7 45 I'lnt
apples per cr.ite Win I'eachrs, (teorRla,
per crate 7ftc.l ,10 Watermelons, Florida,
Ier car. tfi04.1n Cantaloupes. California,
per standard crrlc, $34 BO; cantaloupes.
Arltnna, per standnnl crale J4ff'i.ft(l, can
taloupes, southern, per standard crate, $2lrS
2.7B; do, per flat crate. A08.1c Cherries,
Nnw York, per 4-cjuart basket, BOfOSc
Illackberrles. per nuart 20M"7c Huckle
berries, per nuatt lftirfSOc Currants, per
nuart, 10ift1Hc Ilaspberrlcs, Jersey, P.r
quart. 12J1flc.
VKdr.TAIII.EH White iiotaloes. southern,
per barrel No,, 1 1fl7B. No 2. $2 ,10f!
3 2.1 White potatoes .Jersey, per "i-bushel
basket No 1 tl 2.H1 1 4(1 No 2. ilOclftl
I'abbaR,.. I'ennatnnla per barrel. 2.1 Hi
7.1e. do Jerse per basket 1R5I2SC Onions,
Jirse per bjsket 31(t00c
I.WIAI
AnVr.KTIHKMITfl .
IfSf'THK I'lllt.Mir.l.PIII.V
KI.KCTItir
r, ivv
To the Sloeklioliler. of The Philadelphia
Kleelrle rompnnrt
A speelnl mvotlntr of the stockholders
of The Phlltdelphli V:iectrlc Company will
be held nt th office of the Company, No
lonn Chestput slrert Philadelphia fn
1Vrdnesda, eutemlier 1, 1020, at 11
o'clock h m for the purpose of innslder
Inc mil neilnK upmi n proposed Increase
In the authorised capital stock of the
compnnv from 2 onft.non shares of the par
value of $2.1 each to 2 000,1100 shares of the
par alue of $2". cadi nil of which In
crease shall be i:iaht Per Cent Cumulate o
Preferred Stock nlso entitled to preference
on liquidation to the pir alue thereof nnd
accumulated nnd accrued unpaid dividends,
to be redeemable at $28 per share nnd all
nccumulated and accrued unpaid dividends;
to be convertible Into Common Stock par for
M, nt the nntlon nf tbi. holders, to haC
tho same ottwj rights ns the Common
Stock, and to have such other rights prli
Irues preferences and limitations ns may
bo determined nt said meeting, also of
HUthorltlng the Issue Hnd dlspoul of ssld
Preferred Stock by the Hoard of Directors
at such time or limes and upon surh terms
and conditions ns aiilu Hoard shall approve
provided, however, thnt said shares shall
llrst bo offered to ths stocklioldi rs pro rata
for subscription nt par. and of transacting
such other business as may properly come
before the meeting.
In nimrdnnrc with the b-l,iwa of the
rompanv the stock trnnsfer books will be
rinsed from 3 o'lloclt P m August 12,
until 0 o'clock a m September 2.
Ily ordir of thu Hoard of Dlnctors
A. V. It. COB
Secret arv
asr
liSTATB OF UOMAI.HA O. ItT.MP
TON. deceased -Letters testsmentary
upon tho estate of Ronia'd i t) Ientpton.
deceased having been Kr.inted to I'ldellt"
Trust Compnnv, ull persons Indebted tn tho
said estate are requested to m ike pnvjncnt
nrd thoso hnvln claims nsulnt the same to
praJnt them without del iv at the nfllre of
the mild lompany, 321-3JI Chestnut street
Philadelphia.
WM T. OT.ST Presldmt
KSr" l.i:i.AM)i: lllll.HIM. AM)
LOAN
-" A
sor: vriov
Notice ! herebc fflletl to the tni kbolie--s
of the I.elnnde IIiiIIiIIiir nnd I.oiti ivnr'.
ntlon. n corporation nuanled nnd exMi
under the laws nf the S'ate of pcntwlv nit i
Ibnt In pursuance of a r snlutliin of tb
hoard "f directors of said as.nutlfti i
spednl meetlntt of lh' s ockhnlders of tl
said Lelnndc Ilulldlnc; mil Loin Ao '.iMnn
win be held mi Vtcslnr'dix. Hip Slli ill, if
Keptrmher. IKO, nt li n c-loc k p m. at th
onlce nnd reuulnr Pl.ir of tneetltiit of sol
association Columbia Hall, 132", W 'olu'ii
bin icve . I'hll'iil'lphl, for Ihc purtio, ,,'
vrtln for or against ib. nropoted Incr a
f '" capital stock uf the s ild Lclanl
.... . ... .1 nnn linn
00.1 to $3,000,000
PHILIP bOVVIIIIIM
Kecreiar
B I OH YOL'NO
Soil, ito-
'JS
AI.HINK TIUST COMPANY
Notice Is li rihv given thai hv
a resolution of tin Itnird of Director, nf
Atdltm Trust Compan, u special meetin
of the stoi kholdf rs of said cnrpnratlun vein
be held n t Its prlmlpil oflke 2020 Cheat
nut street. Vhlladt ll hi i IVnnsvlv n(n, on tb,
lfllh dav nf '-epteinhrr. I20, .it .1 .in p ,n
P M . to take irtton on npprocal or dl.
approval of the nropnsed Increase of capl
tal stock of nab! cn-jiorittlon from IftO'J
ooo 00 to $1,000 non nn
WAITHIl C HVnitlS
DICKSON HHITI.r.R A Jr, COIt'ci,,"1''
Snlli Itor.
i
-,
, ZSy
.NOTicr. m iii.ur.iiv civr.N that
Morris RtNtiri )i,s eolil tig.,, str.r. ,t
1111 Ruci st to S imuel St in rind ..
tlement will take plate ou Julv 24, a Ml .
tun st
' lOTIPII lin'.i:RM N Rf.ALTV CO
5kknttf. or iii:.Mti . t.riiRiMi.
deceased Tellers of anrlllnrv ,idm n
lutratlon cum teiicmen'o nnnexo upon the
rstat, of Hetirv A ITrrruh die a.d Inv'n..
hern uranted tn I'lPKLlTV TRl'ST (VII
l PANY all persons Indebted to the imld state
are requested to make tivm, nt and tho,
'having flilm tga(r,.t the sine -r on. nt
tin m without ilela- it the nffl of thr s Id
compan 321-111 CI es'r.ut l Plliadelphli
WILLIAM P GLhT. Piesnknt
I Or to t-s attomev
s fTwnr.n is.ard iq
' 213 1 lher. III,.. Phllitil. Iplil, rs
rgf i:stati; or minus j urov ir
crn-ril ltttr f admit iniat'i
upon th .ito if ThoiPis I Ke n cl
ee,.d hnvlnir In nn trrantid to 1 Hiri.ITY
TP.rT COMPANY nil prre-MiH lnd.iir-d t
'the stlil estate are requeued to tint, pet
nKiit ,nd those h.ivlna ,'lalinr ittiln.l th
tatnii lo present them without rb ia nt h,
i off It , of the said rnmpirv Ni 1 1.311
i Chestnut st Philadelphia
I WILLIAM P i.rcT
Pm Mill-
Z7
ITTK OrilLMtl JMlltl.Tr II KT
I,H. deceased-Letter, ,. ,,.i ....
upon the eMito of Heurv .Intrett rt. v
.'',rn-ed bavlntr been ranted to 1 1 f V t p v
rnt'sT COMPANY and Vr"r"iH V IIVRT
I CY all persons Indebted to tb, mi i , tn,
ue HOUrMed to make pavuient ,t hr
n-M'ni: iiiiim', tu.-iins- me aim, , , ,
thm w'thout delav at tho ntfl. r of .
,n'i' in. Nis 32.1.111 Chestnut t lh
cl'lph a
WILLIAM p ., -t
Pr , I
PARTXHRSMll'S
MITK K is HKKKItl tin K TlTT
( laiidr 1 mnk I.eiiiiiaii has withdrawn f m
tc roiurtnershlp of .llnrlde & ( o,. lm.it I ,,
Nn 211 Ileal i:stalo Tiust Ilul dma- P i
lelph'i on July 10 1120. and that th bui
nes of said copirtnershlp will heri ifter i
continued under the came name ,,t th s un
cldr.ss by Charles Andrew Mat kle. .Inlm
II ieltlne shlnn nnd Jacob II, Croupe tl
ri mattilnc pittners
chari.ks txnnnv m' kir
JOHN IIASKI.TINI! Vhinn U
jacor f. cRoi-.si:
ci.Afnn Fnwi ikvmvn-
riN.NCIAI.
NOTIC'i:
c nmnionvvealth Trust Compiny Trus '
In Plrit Mortctko of The Hiimmels
town (nnsolldatrd llatrr Compan) m urn e
n 2". ion mr value of bonds b ord. r -r
the t urt of Common Pleas of Inuph n
ountc liirebv Bves notice that on l'rlil i
Jul, 3i. 1020, at In n rlock a in at us
off! f in the city of llarrlshur,; p., 2.
Mark.t street It will receive elalms arising
on .-aid bonds or riiupona bcloiKlnK thereto
nd heir all persons Interested therein or
slIiEliiR to have or bold claims attains! th
niortikor company, and notLe Is further
gn.n that all claims not presented wil b
f,n,ver barred from partu Ip mon In tl
P c els arisliif, from tho foreclosuro sale of
th in rtwaKrd premises.
c.ommonw:ai,th trust company
Trustee
TO fill". IHM.nKIlS 01' TIIK riltsT'MOKT
r'' d pr cent 20-ear ulnklnsr fund k 1
bonds of the Majne Coal Compan
N.iti Is herebv ulven by the c il ni
Trut c. npinv trustee under the nwn. s
n( the Wavne Coal Company, to the ( ol ,i ai
Tru--t innipinv dated March 1. 1P17 that
iiur'unnt to IP0 Provisions of salt' mon
cbe it 'illl ro elvo unltl Anetist 0, lo.'ll. ,'
It, cfn.e situate at No 317 4th nv. in
Jk Itv o' J'lllsburch I'ennsvlv in ,
tenders of bonds for purchase and ritlietn in
fre n the sinking .fund which now amount
in SUM 102 14 Tho rluht Is reserve,) to i
je i aii and ull tenders In whole or In
rrl TUT. COLONIAL THL'ST t d
Trustee
Proposals
iii-iiu. tT"Eu ,Vakti:i,iasi i:u
(.riirnit. I'un'huse, Henc ciothlne and
Kquipine Hi; aloii. Munlijons HuildiiiB
Wasnitirttou l .Kil.llc.J proposals vvl"l
I it.tivcil hr until II A M AiiRiist 13,
1U2U. for furnlshliia 12.J00 pairs Hi,k Socks
and mo pairs Lisle, Sock Inforuutlon
on f cwet
I)l Wi-na
tih; piTTsiu itdii rnvAT
MHlel.MV It.MIAVAY COMPANY
iitrri-.iiKKU nivinuMi mj,i
Th. Muard ot uirectorK has declared
til . ..... . . .
Llmraii lulv 7 102(1 '
pimi.miki i'iii. JinTTii-in'ii
The liiard of IHi. i .rs if tho Penn Trait' -c
otm i have ids tl ,v ' 'lared ,, regular
,emlan'iusl illvlltnd of 3'r u, JM tr
dlvldeinl.of ' rivahle iiiru.t , i. ,
rtockhollers nf re, ord .lull l", m.-n. Trans
fr bnnKa remain ocn cneck. will ba
.dividend Ol one anil our-iinir nviji nrr ,,pn.
'on the Preferred Hipck of iho Cou,pa,,v fof
the ouarier ended June 30. 1020. pavabls I
August 01 i".". ;v etiaanoiaers of rac ,rd
I at tl o dose of business on Aurust 3. iii-h
11 l ClCCJlCh;
PI
t"1 Ai.rnurM oray
eerelary
MMKKCIAI. 1 Ifl'ST ('(IMIANY
Pllllncle nhlt. July ; ',i'.n
At a nieetlnu of the Una d of nirei'tora
,,,,', I..' ,i iniirterl, dlvldrnd c,r fm.r
(41 per lent was clc lar d on Ihc e-.,pii , i u.
0f ,i,e e iniKuiv. n, v ,bie on Aurust 2. 1020.
Checks will "' mailed
UU"B JIUJUC.YiXLCOS..Troaaurerk
MANUFACTURERS and JOBBERS
We will put your business on an 80 cash basis
by buying your open book accounts. Yoik collect them
as usual and your business organization is not
disturbed.
' Write, wire or phone for our representative to
call and explain. No obligation.
INTERNATIONAL FINANCE CORPORATION
METROPOLITAN BANK BLDG.
(Opp. U. S. Treasury)
WASHINGTON, D. C.
The S. S. White Dental Mfg. Co.
10-Year 8 Per Cent. Gold Notes
lilted ticnst 1, 1020 flue Aurust I, 1030
Authorized and Issued $2,000,000
Tax Free in Pennsylvania
The S. S. White Dental Mfg. Co., organized in 1844 and
incorporated in 1881, is the largest dental manufacturing com
pany in the world. The marked advances made in dental
science have been moit pronounced in the last few years, result
ing in sales increases from approximately $5,500,000 In 1915
to over $9,500,000 in 1919, with 1920 estimated at about
$11,000,000.
Net tangible assets which are now $8,772,314, or $4,386
per $1,000 Note, have increased to the present figure from
$837,000 in 1881, solely through the reinvestment in the business
of surplus earnings, except for the proceeds of this issue. Of
these tangible assets $6,290,803 are net quick assets, or at tho
rate of $3,140 of net quick assets for each $1,000 Note.
These Notes comprise the Company's only Funded Debt!
No bonds, or other securities, ranking ahead of this issue can be
created while any of these notes remain outstanding or unpro
vided for; and, no additional funded debt ranking equally wih
these notes can be issued unless net quick assets are at Vat
200yr of the total funded debt, and available earnings for
twelve months have been at least three times annual interest on
the total funded debt outstanding and to be issued.
The Sinking Fund of lC'r per annum will be available for
the purchase of these notes in the open market.
Earnings for the past three years, excluding 1920, have
averaged $842,016 or practically 5U times the annual interest
of $160,000 on these notes. Including estimated earnings for
1920, the average annual net income for the past four years
has been in excess of $1,000,000, or nearly 6i times annual
nolo interest.
Price: 100 and Interest
To Net 8 Per Cent
Biddle
1 04 SOUTH
'W'A M Where whoIesale mi
Wi mml M and a
! retail districts ffl
' Wy-WB M meet- wm
X ItffiWM "Alwaxb Commercial" If
' ill A3k DC MM if
N'lV Wm'm NATIONAL BANK
r'A ': Mi Jam "ii Market at Seventh H
3&mEastt$mm& Mrf'w wwn mwzz n
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DUQUESNE LIGHT COMPANY
First Mortgage and Collateral Trust 6s, Due 1949
Free Pennsylvania State Tax
Company Pays 2c'e Normal Federal Income Tax
The Duqucsne Light Company, serving the entire
city of Pitts-burRh with electric light und poiver, is one
of the moit prdpeioub of Public Utility Companies.
The Bond- vluch are a First Mortgage on a large
part of the I ompany's property are of unquestioned
security.
We recommend their purchuse as being a Bond which
will not only give a high return, but one which will show
a considerable adiance with a return to more normal
interest rates.
Price 85 and Interest, Giving an Annual
Income of 7 and Yielding VA
BROOKE, STOKES & CO.
Members Philadelphia Stock Exchange
15th & Walnut Street
Philadelphia 102 St. Paul St.
Baltimore
& Henry
FIFTH STREET
Cities Service
Company
7
Series C Debentures
Interest requirements be
ing earned 11 times over.
Convertible into Cities
Service Company Corrl
mon and Preferred stocks
on attractive basis.
Market value of stocks
Junior to the Debentures
more than five times prin
cipal amount of outstand
ing debentures.
Yield 7.45
Plus common stock
dividend accumulations
Circular "C" on Request
Henry L. Doherty
& Company
604 Morris Bldg.
Philadelphia, Pa.
rhone Locust 1440
ST. LOUIS
SAN FRANCISCO
RAILWAY CO.
Income Series 'A' 6s Mkt.
( bout S173. per S1000. bond)
Luted on the New York Stock
Exchange.
We solicit oiders for these bonds.
NOORE
& LYNCH
CUSHMAN NEWHALL
MANAGER
1340 WALNUT STREET
ITZ CARLTON HOTEL
(ROADiW
... - rairn
, NCWYCRK. tUIUWMa
PHILADELPHIA
K PrrrsBUKGH
70CK UCHANOCS
D. W. Griffith, Inc.
World's Foremost Motion
Picture Producer
CLASS A STOCK
$15 PER SHARE
We offer this stock for cash or on
our 20. payment plan.
Full Particulars on Request
Scott Stump
Investment Securities
Stock Exchange- Building
I Ml' ii -l I'M i V. PA
New Irirk ,i 1 i at. .vile N irrlstown.
!uw ' h imbt r-nurir, Pa
JULY 1920?
Where, today vvill the shrunken
dollar ro as far as In the purchase!
of high grade securities? Many
excellent issues can now be ac
quired nt a fraction of their worth.
What are the outstanding stock
and bonds deserving of considera
tion in July's market and why
Our special letter JULY 1920"
analyzes certain Issues deserving of
the investors consideration Send
for FREE COPY.
Marketable srrurlUrs
carried upon conservn
f(p marginal basis ODD
LOTS u micrtaltu
MILTON HEIM & CO.
(Snrcrs;ors to Cioldbrric A Helm)
Members 1 Phlln. Mock Kehane
I linn.. Mock Kx of N. Y.
1G22 Chestnut Street
riionrs: Bell Sprites (1017-4300
Ke.TStune. Ititr ?AO.
I Tl llroadw iv A tun mi, Te.. V. v.
st .infnril Conn
I
I
I
Armour & Co. 7s, 1930
Cleveland Elec. 111. 7s. 1935
HersheyChoc. 7!2s, 1930
Penn. Central Lt. & Pr. 6s. 1963
U. S. Rubber 7'2s, 1930
West Penn Pr. 5s, 6s. 7s
At the markets in all short term
notes and equipments
MrCown&Cq'
Lotus! 51UI Land Title Bldg. ""Ml
Ntw York lei Connection. Canal 4(11
llli; l.Mil.l(bl(i.NKli III'.KIMIY CAlXs
for presentation of all llrst innrUuno bond
of Issue dated November 1. 1013. for TJ.
dempllon 111 accordance! with teims stated
thereon "
FIRE flOMPANV nv
ASHLAND AND VICINI7W
V.lilan.1 VJ... V. .
sliland. Nrvr Jersey
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July lb. 1U20.
HAMILTON, Prm
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