iwia BVBmitfGE TjfeSDAY, '&TJGrUST 10, 1920' ' " 'Y - r-J 7 1 rff ? . -$1,500,000 Mobile Cotton Mills First Mortgage 7 Serial Gold Bonds Dated February 15, 1920 'M'ilMPW Due $150,000 Annually February 15, 1921-1930 Principal and Interest Unconditionally Guaranteed by Endorsement by Standard Textile Products Company formerly Standard Oil Cloth Company Interest payablo February IB nnd Aufjuat 15. Coupon Bonds of $1000. Callable In whole or In part on nny Interest (Into at 103 and Interest. Outstanding, $1,500,000. Ileservod $300,000. duo February IB. 1932. Total authorized $1,800,000. Principal nnd Interest payablo In Bold at tho ofllco of tho Trustoo SKlSi&l' rcc rom ""y tax or taxes, deductible at the source, up to 4 nrw5-" THE FIRST TRUST & SAVINGS COMPANY, CLEVELAND, OHIO, TRUSTEE iiser i.'y-)F '. The following information is summarized from a letter to us from Mr, Alvin Hunnicker, President of the Mobile Cotton Mills!" and Vice President and General Manager of the Standard Textile Products Comjyany: ' Security These Bonds are secured by first mortgage lien on tho entire property, real and personal (including current assets) of tho Mobile Cotton Mills, which owns thrcu mills located at Mobile, Ala.; McComb, Miss., and Selma, N. C. In addition, tho company covenants to maintain at all times net current assets equal to the amount of these Bonds outstanding. Net assets as of Juno 2C, 1920, were $3,331,485 and net quick assets were $1,888,613. The Mobile Cotton Mills, manufacturing cotton cloths, is owned by the Standard Textile Products Company, and its output is an essential basic material in the production of the latter company, which is tho largest producer in tho country of light weight oil cloths, leather cloth and washable wall coverings. Guaranty The Standard Textile Products Company unconditionally guarantees, by endorsement, the payment of prin cipal and interest of these Bonds, the form of guaranty further providing that in the event of default by tho Mobilo Cotton Mills' in the performance of any of its covenants contained in the mortgage securing the Bonds, the Standard Textile Products Company will forthwith on demand pay principal and interest of the Bonds. This is an exceptionally strong form of guaranty. Standard Textile Products Company The Standard Textile Products Company, an Ohio Corporation, was organ ized in 1901. Its,plants arc located at Youngstown and Akron, Ohio; Rock Island, 111.; Athcnia, N. J.; Buchanan, N. Y., and Columbus, Ga. The earnings of tho Standard Textile Products Company for the past four years have been as follows: Year Ended December 31 1919 Net Snles i $15,779,187 Net Earnings after Federal Taxes '1,903,036 Fixed Charges 304,131 1918 1917 1910 $15,290,671 $10,627,566 , $8,947,275 1,921,567 1,080,592 1,125,007 303,681 153,733 123,332 ' $926,859 $1,001,675 Balance for Dividends and Depreciation $1,598,905 $1,617,886 The average balance after fixed charges, shown above, is equal to over TWELVE TIMES the annual interest on these Bonds, guaranteed by the Standard Textile Products Company. For ten years 1910-1919 this balance has averaged nearly NINE TIMES such guaranteed interest. Sales Net sales of the Standard Textile Products Company for tho first five months of the current year are at tho annual rate of $25,854,000, and balance for dividends and depreciation at the rate of $3,137,000 per annum. Tho latter figure is equivalent to practically 30 times the guaranteed interest of $105,000. Outstanding Stock In addition to $5,000,000 1 Series A Preferred Stock and $3,000,000-7 Series B Preferred Stock, tho Standard Textile Products Company has outstanding $5,000,000 Common Stock quoted about 95. We offer all maturities of the above bonds at Prices-to Net 8 Win. A. Read & Co. Philadelphia Th6 First National Bank Cleveland Tho Information contained In tills advertisement han been obtained from sources which wo consider reliable. While not guaranteed, Is accepted by ua as accurate. NEEDED- . the constructive co-operation v of Credit Men The Credit Men of the country1 can render a vital national service right now by driving home to their customers, their own sales men and the chief executives of their own business, the wisdom of handling coolly and constructively the daily credit and collection problems. Demonstrate that the only safe course is a confident one. Spread this gospel: "Buy wisely, pay promptly sell prudently, collect promptly." Lay before your own firm the facts about Credit Insurances thai strong protective, constructive service which will absolutely safeguard , your resources against any unexpected and aunormai credit losses. Unlimited Policies. Investigate the American's Credit Insurance is a tremendous aid tq any credit de partment. It is the Credit Man's Best Friend. Let us show you why. No obligation manufacturers and wholesalers write or phone today. AMERICAN CREDIT-INDEMNITY, CO. or NEW YORK " E.M. TREAT, president. ISSUES STANDARD UNLIUITID POLICIES W. J. MORPHY, Manager, J. F. McFADDEN, General Agent, Mutual Life of N. Y. BIdg. Phone Filbert 5503. Philadelphia, Pa. Statistics Show That Most estates of $5000 or more aro dissipated in n lew years whero there is no trusteeship. Wo nssumo tho responsibilities of a trustee, which assures the futuro of those you wish cared for. A consultation with us may sot your mind at ease on many of your financial responsibilities. REAL ESTATE TRUST CO. OF PHILADELPHIA Broad-and Chestnut Sts. A PERSONAL QUESTION TO INVESTORS Are your dividends insured? What if some of the big debtors of the companies in which ,you hold stock, failed, and the losses wiped out the pro fits upon which you depend for your dividends? Though you may think this is solely a matter for the officers and directors, it vitally concerns you. The credit man may be able, but no credit man can always foresee unexpected fnilutes. "LONDON" Credit Insurance not only backs up the credit man's judgment but gives absolute protection in advance against excess loss from debtor failures. It insures jour dividends. Ask us If the companies in which you hold stock are protected with "LONDON" Credit Insurance. There's no obligation. OUP. SUPERS SEIWICE ATVOUR. SERVICE Losses Paid In AmericonQirrcncy Established Eighteen Sixty-nine LONDON GUARANTEE AND ACCIDENT COMPANY LTD.. R. A. IRVING, General Agent Phone Lombard 4016 PHILADELPHIA. TA. 820 La Fsyette Bidg. Tax Free Penna. Municipals To Net 5.25 and 5.50 Townsend Whelen Co. 505 Chestnut St. "WANTED" "Two hlxh-frado nalmmrn to represent us for the sale of stock In J Hanta Lucia Cold Mine. Limited. Apply II. O. CKOW, 1B1 Hiinnysldo Are,, Toronto, Ont." Penna. Co. 3V2 "B," 1941 CHARLES- FEARON CO. 333 Chestnut Street REAL SALESMEN Wo have i rry profitable permanent ronnortlon for Hulramrn who con aril liltli-rrude securities, ('nil WALNUT M New York Bonds HAT.KR IN $1000 From Opening Until 2 P. m.(N. U ft II U 4VMIIH 2 04i Dint' a Hccur'y Corp n 6s 4 TO D Can B '21 14 07 U D Can OHa'21 (I 07K V Cnnada '20 4 00H 1 HO',4 4 OOH 1 110 1 IIOH 4 00'i D Canaila '.11 4 80 Hrlo Ucnl Men 3 42 Krlo n 1st rn 1 OOi.t Erie It II cv A 1 no Krlo R R cv II b nn4 l sow Hrle R Co 4 IB BOW ,Gn'l I. 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IB. . 16.. .. 1 . 3.. 11.. r . 5. 18 1. 1 Kan C A 2 1 1 Knn C & 1 2 B34 53 S3 8 3i B3 B3 B3 8 .. 00 ... 00 ... 004 ... 00 ... 07 Kan City Te'l Rw 4a 3 00 1 07 K Heir 0a '21 20 08 K Delc'm 74b 014 01 014 01 014 01 014 & a 4A 484 484 484 48 48 484 484 484 48 484 48 48 484 48 484 484 48 48 STEEL BOOKINGS LARGER Corporation Reports Unfilled Orders for 11,118,468 Tons New York, Atiic. 10. In Its monthly Ktateineiit. IhhucU nt noon today, the Unitecl Mates Hteel Corporation re ports unfilled orders on its books, os of July ao. Inst, of H.118.-1CS tons. Thin compares with 10.078,817 tons on June 'M, Inst, nn Incrensc of lU0,0.ril tons, nml' with 0,078,001 tons of July 81, 1010. Comparisons of unfilled tonnage ou tho 10th of each month since 1012 fol low : Month of Tona Month of Tonaj July, 11120, ll,l1N.40HHept. 1010. 0.022.B84 .tune. 11)20.10.078.817 Ann., mill. tl.nii0.B7 ia2U.iu,4u,4uii juiy, linn. 11,0113,011.' llii'ii,n,ar.!t,7r7 June. inin. n,040,4B8 11120 0,81)2,075 Muy, llttO. 0,1137,708 1U20. II,()B2,081 Apr.. 1010. 11,820,551 11, -.:;, 111 Men,, mm. w,;i;u,uui 8,2(I.-,BI Feb,, 1010. 8,5(18,1100 T,12K,380 Jan , l,1l.'.IHI8 iec, May. Apr., Atch., Feb.. Jan., Dec, Nov., Oct., SJept.. Aug., July, June, ray. Abr., Mcll,, Feb., Jan., Dec. Nov., Oct.. Hept. Auir., June, May. Apr.. Mrh Feb,, Jan., Dec, Nov., Oct.. Sept. Auir., July. June, May, Apr., Men.. Feb.. Jan., Deo., Nov., Oct.. 102D. nun. 101II. inin, linn, mm. 1010. nun. mm. 1010. into. 1011). mm. 11118. 1018. Financial Briefs Martin Leo, who for a number of yearn was connected with tho Farmers nnd Median lea' N'atlonnl Bank of this city, and for tho last two years has been manager of tho Seaford branch of the Delnwnro Trust Co., has been ap pointed assistant to tho president of tho American Bank nnd Trust Co.. BrldBe port. Conn., and will enter upon bis new duties about the middle of August. The avcraco price of twenty active In dustrie slocks declined 0.80 per cent yesterday to 83.24, a now low point for tho year. Twenty railroads decllnea 0.95 per cent to 72.95. NhnrA earned nn lift. 104. 000 Htrx-lr. romnnreil with tl.2S2.761. or share after preferred dividends, ti corresponding period In 1919 j Bubtreosury .gut. $310,000 from tho banks yesterday, mftXj Binco Tiany wv Tho New York net gain In? a cash 1901,000. United Verde, produced t.iH.tlt' pounds of copper In July, against , 282,020 In June. .,'.-, Net corporate City Southe tl,2H4lf 38 Nov., fl.lOOTlIM Oct.. B.B7S.I101 Kent 4,81)2,835 AUK., 4,282,310 July, 4.800.005 June. B.430.B72 May. 0,010,787 Apr., 0.0.14, 208 Mrh,, 7.3711,182 Feb.. 8.124.08.1 .Tun.. 1018. 8.833.21)3 Dec. 1018. H.2U7.U0.1 Nov.. mis. R.7r,.n42 Oct.. 1018, 8,1118,800 Hopt. 1018. 8,337,028 AUK., 1018. 8.741.882 July. 1018. H.IIBH,40S June, 1018. 0,288.453 May, 1018. 11.477.853 Apr.. 11)17. H.381.710 Mrh.. 1017. 8.307.100 Feb., 1017. n,onn.o7B Jan., 1017. 11,833,477 Dee., 1017.10,407.040 Nov., 1017.10,844.104 Oct.. 1017.11,383,287 Hept. 1017.11,8Mfl,S01 Aur.. 1017.12.183,083 July, 11117.11,711,044 June, 11)15. 101B. 1MB. 1015. 1D1B. 101B. 1015. 1015. 1MB. 1015, 11110 ini7.lt.ri7(t.ni)7 May. ini7.11,474.0.'i4 Apr., 101(1.11.547,280 Mth., 1010 11.0B8.B42 Feb., ivin.ii;,uin,zun Jan. into. 7.1)22.70'. 101B, 7,800.220 7.1811,417 M0B.453 5,317.018 4,008,455 4,n28,B40 4,078,100 4,204,008 4,102.241 4.253.740 4.345.871 4.24S.B71 1014. 3,83(1.048 1014. 3,324, B02 1014. 3.401,007 1014. 3.787.007' 1014. 4,213.33t 1014. 4.158,580 1014. 4.032.857 1014. 3,008,200 1014 4.277,0(18 1014. 4.1153,823 1014. 0.020,440 1014. 4,013,080 1013. 4,282.108 1018. 4,30(1.347 1013. 4.B13.7S7 1013. B.003.7SS l018. B.223.408 1013. B, 300, 350 1018. B, 807,317 1018. 0. 324, 322 1013. 0,078.702 1018. 7.408, 0B0 1013. 7.03(1.714 1013. 7.827.308 10 1. 10. 4. 1. 10. 8t I. . 8 Fran Sorlea A 5 4 1 10 1 0 1 1 0 1 Prices Firm on Paris Bourse rnrta, Alifr. 10. Trading was -quiet nnd prices wero firm on the 'Bourse to day. Three per cent rentes were quoted nt 56 francs 20 centimes; exchange on London, 50 francs 69 centimes ; 6 per cent loan, 87 francs B0 centimes. Tho dollar was quoted nt 13 francs 96 centimes. 20. 4, J. in 5, 1; St I. 074 074 074 074 07 07 07 4 07 07 07 4 07 4 074 074 Lehisli P. Sec. Gs, 1927 Armour & Co. 7s, 1930 Union Tank Car Line 7s, 1930 U. S. Rubber 728, 1930 John Wannmnkcr 5b, 1923 Penna. Lighting 5s, 1940 B0ENNING, GARRISON & CO. STOCK EXCIIANOK I1UILDINO Dlrre 1'rlvatr Telephone 1 New York Meinbera riillu, fltock Kicliaota 10. 10. B. 10. 14. 1. 12. 3. 04 03 03 03 03 03 03 03 03 03 Chi & Q'wn 4a 1 B34 C Mil 4. St cv 1..... 074 Chicago Mil & St P 4a 1 054 Chicago Mil & StP 4a '25 1 70 2 77 Chicago Mil t. Stl cv 4 4a 4 074 3 074 2 074 1.. .. 074 Chicago Mil St StP fd 44a 4 504 0. ... 604 Chicago Mil & St 1' cv Ba 1 04 4 . . .. 05 3 .... 04 1 04 Chi & Nwn 7a 13 .... 00 13 00 Chi R I ft I' fd 6 . . 074 1.. .. 07 10. ... 07 4 1 07 1 07 C R I ft 1 4a 2 784 Chi U 8ta 4Va 2.. .. 70 3 . . 70 B 70 Chile Cop' l 7b 1 . ..034 3 ... 034 10 . 03 4 1. ... 03 City Ilnrd'x 0a 1.-... 83 CUy 'Lyona 0 1.. .. 83 1.. .. 834 City Mara'a fla 3 . . 83 Cty New York 48 '50 res 5 .... 824 City Parla Da 1 .... 01 4. ... 01 City Toklo 5a 3 52 C'ld Cln Chi ft 8t I. 4 4a 1 724 Coin IndUHt na 1 70 Col 4 H'n 4 4a 4 074 B 07 B 07 Cona'd Ohb 7 1 004 Cuban C H cv 2 004 Del ft Hud 4 4 S 054 Del ft Hud 7 4 100 I.... 100 Den ft R tl fil 4 45 1 40 10 .... 40 Don ft R O 4a 2 024 1.... 1.... 2.... 1.... I.... 3.... 1..... 5.... 1.... 11.... 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Ba 2 .... 74 S Pac Power Ba 1 764 I'ac T ft T Ba 2 70 2 711 l'enna R II cv 1 80 Pa R R 44a 2 07 3. .. 07 504 604 6(14 604 50 60 60 5(14 6(14 50 504 , 50 , 504 ..60 504 , 604 , 50 ft S Fran 73 .... 74 .... 784 . ... 74 .... 74U .... 74 .... 74 Pac cv 4a .... 75 75 70 70 76 7S4 73 70 E'n Poo cv Sa 1 03 1 03 1 04 S'n Rallw'a 4a 2 58 0 58 58 68 58 68 684 A Good Place to Open a Bank Account Third National Bank Qppoalte nroad Street Station Liberty Liberty Liberty Liberty Liberty .Tjs 1st -Ik... 21 4s.... 1st 4'4s. 'M .11 a Vil Liberty H1 4 Vis.. Liberty 4th I Vis, Vic Notes 3-Tis... Vie Notes 4:4.. HUh 00.R2 85,40 84.50 85.40 84.00 88.00 85.02 05.00 05.70 1. 10. 4. 0. S'n Rallw'a 5a 1 83 Third Ave aj 0 104 Third Ave 4a 38 Union Pac cv 804 Union Pac fd 1 73 8 73 3 734 Union Pac 4a 814 814 814 Union Pac 6a 1 00 Union Pac 0a 1 814 V K of O Urlt ft I'd 1021 B3 03 B 0S 5 05 5 05 0 03 I i: K or o hi u ft I'd 1022 i 2 00, a oo 2 00 1 0(1 ' 1 00 l U K of C Urn I ft I'd 1020 6 85 B 85 3 84 2 84 DKoIO llrlt ft I'd 1087 6 82 1 82 5 . . 82Vj 2 .. . 824 Ut'il Rws San P unct 4h 3 22 U 3 Mexico 4a 4 27 U S Mexico 3a 5 33 4 I' R Inv't O) of S V B 2 05 V S Rub' i ,1i 5 77 2 . .. . 78 1 "Hi, 2 77 1 78 V S Rub'r 7a 1 07 4 1 08 U H SUel 3a 2 01 3 014 1 014 1 01 a ti2 Vlr'a C.irollna C Co tin 2 034 Va Rawaya 5a 2 704 Va ft Swn lat 10 70 ,W Pucinic lt 704 Wllaon Co cv 2 834 1 83'; Wllaon Co lai 1 80 (N. Y. time) 11:13 u.m 00.80 85.40 81.50 85.40 81.50 88.50 S4.DS 05.00 05.08 OO.KTi 85.20 84.40 85.20 84.50 88.48 81.11(1 05.00 05.01 Tlar today, BAR silver was at B94d. 8ILVER d lower in London Income of the Kansas icrn for tno year enneu .De cember 31, nfter ordinary charges and taxes, was $1,460,424, equivalent, after making allowance for payment of 4 per cent on tho preferred stock, to $2.03 a shuro on tho $29,969,900 common Btock, International Motortruck Corporation reports net profits for tho six months ended Juno 30, after charges and Fed eral taxes, of J2. 163,421, equivalent, nftor preferred dllvdend, to $5.64 a sharo earned on 283,108 shares of out standing common stock of no par value. Mnrn Ihnn nne.fnurth nf the cnnltal stock of Baldwin Locomotive was traded In on the stock exchange yesterday nnd tho consensus of brokerage opinion was that tho bulk of turnover represented short selling. Net earnings of Cosdcn & Co. for tho six months ended Juno 30. after deduct ing Intttrfnt nnrl entlmaterl taxes, but beforo allowances for depletion and de preciation, were $6,410,177, or at the an nual rato of $16 a share. Nineteen nctlve Industrial Issues were depressed to new low levels for tho year In yesterday morning's drlvo on values. Charles A. Stone, president of the American International Corporation, who has Just returned from nn exten sive business trip through Trance, de clared ycBterday that that republic Is recovering from tho effects of the war very quickly. The General Cigar Co. reporta for tho six months ended Juno 30, net earnings, after charges and Federal taxes, of $1. 814,420, equal, nfter preferred nnd de benture preferred dlvldonds, to $8.19 a Earnings of Cosden A Co. for first fix months ended June 30, last, amount" to $6,410,177. or at an annual rato of $15 per share, compared wlthjfiet earn? Ings for same period of 1919 krf $4,281,- K.13 nn Inxl-flnlK. nt 12.124.614. In flKUrCS for this year tho company has made no deductions for depreciation and ne u plotlon and has estimated federal taxMi L Official announcement was made tltat a group represented by financiers ana factors In the automobile Industry nB taken hold of tho companies of the Max well Motor Co.'s affairs. Assurance) wa given operating conditions will os resumed ,ns soon as possible. A manage ment committee representing all Inter-i, csts was formed. ?u ''i Erie Aska Time Extension on Bond. Washington, Aug. 10. The Erie Rail road asked authority today from tho Interstate Commerce Commission to extend, for ten years, tho maturity date of certain obligations of Its predecessor companies. Tho bonds which It woO'd, extend aro: New York and Erie nall road Co. fourth mortgago 8 per cent bonds, maturing October 1. 1920, to the amount of $2,926,000: Erie ttyfny Co. consolidated. 7 per cent bonds, maturing September 1, 1920, to tho nmount of $16,891,000: nnd the New York. Lako Erie and Western Railroad Co.. Orst consolidated mortgago coupon 7 per cent bonds, maturing rptcmber 1, 1920, to the amount of $3,699,600. GOVERNMENT BOND8 Panama coupon 2. 1936.. Panama reentered 2a. 1B30., Panama coupon 2a. IMJ-ii" Panama renlatered 2a, 1038.. Panama coupon 3a. i'--; Panama reaiaterert 3a, 1081.. Philippine 4i. 1934 Philippine 4a. 1035 Philippine 4a. 103(1 ' U H Govt coupon 2a. 1030.., U H Govt reglatered 2a. 1030 , U 8 Govt coupon 4. 1025..., U 8 Govt renlatered 4a. H'2S.. Dial of Columbia 3-OSa, 1024, Hid, Aak .1004 1014 .1004 1014 .1004 1014 ,1004 1014 .77 '80 .77 BO v . 78 83 . 78 S3 . 78 85 .100 102 .1004 102 .103 109 .103 106 " . 05 . New Issue U. S. Treasury Certificates We Solicit Subscriptions to the $150,000,000 U. S. Treasury lrYear 6 Certificates oi Indebtedness Dated August 16th, 1920 Due August 16th, 1921 All Subscriptions Subject to Allotment Telephone Spruce 1480 COMMERCIAL TRUST COMPANY Member of Federal Reserve System City Hall Square New Issue $2,000,000 Southwestern Power & Light Company Five-Year 8 Bond Secured Gold Notes Series "A" Dated August 1. 1920 Due August 1, 1925 The Company will ngree to pay intereit without deduction for any Federal Income Tax, not in excess of 2'7'r, which it may be required to pay or retain at the source. Penn sylvania State Tax of Four Mills refunded upon request. The following information is ta!(cn from a letter signed by Mr. F. G. Syl(cs, President of the Company, summarized as follows: -asKa Business The Southwestern Power & Light Company owns twelve com panies and controls two others, which furnish diversified public utility services in 122 communities, including many important cities such as Fort Worth, Waco, Wichita Falls, El Paso ( and Galveston. The total population served is estimated at 751,450. Security These Notes will be a direct obligation of the Company secured by the Company's $2,000,000 First Lien 5 Bonds, due June 1 , 1 943, and or cash and $2,000,000 General Lien Bonds of the Company, due August I, 1925. Earnings Total applicable earnings are over 51. times these charges. Net earnings for the year ended June 30, 1920, from com panies, all of whose outstanding securities are pledged under the First Lien Thirty-year 1 Bonds, are nearly 2 times annual interest charges on First Lien Bonds and this issue of Notes. The above Notes are offered when, at and if issued and received by us at Price 98 and accrued interest to yield about 8.50 Temporary receipts of The Dunk of America. New Tork. will be lm.uil. exchangeable for Deflnltlv. or Temporary Notes, whim, na and tf received from the Company. Bonbright & Company, Inc. 437 Chestnut St. Philadelphia Halsey, Stuart & Co., Inc. Land Title Bldg. Philadelphia The Information and itatlsttci contained in the above advertisement, while not BUarantted, are obtained from sources which wo bclleva to be uccurate. , A ? . ) s&s&ffii'i' K. 5M"iAA! Jit fcUi-g.'feii' iss'cu.cV' v itlW4s
Significant historical Pennsylvania newspapers