i ' V r (. i' '! a i 7", . v , 'V- v -fc'p .1 VlBING PtIBiilO iiBpGEIPHIADBLPHIA:, MONDAY, SEPTEMBER 20, 1920 1 V ' ' New Isaii6 Exempt From All Federal Income Taxen $1,840,000 City of Canton, Ohio , 6 School District Bonds Dated September 20. 1 920 Due serially a shovm below Coupon bonds of $1,000 denomination Principal arid semi-annual interest (Mar. 20 -.i. - & S6pt 2) PvMo in New YotIc City Eligible to secure Postal Saving Deposits FINANCIAL STATEMENT (As officially reported) Actual Valuation $200,000,000 . Assessed Valuation (1919) 132,305,600 Total Bonded Debt (tins issuo Included) ...... 5,793,178 Sinking Fund 97,719 Net Debt . ; 6,695,469 Ratio of net debt to assessed aloe is about 4& f Population-1910 Census 60,217 Population 1920 Census 87,091 The School District, which includes the entire City of Canton, has an area of 10,294 acres, 7,930 within the city limits and 2,364 out side. These Bonds, authorized at an election, are a direct obligation of the entire City of Canton School District and the proceedings under which they are issued provide for a tax levy sufficient to pay principal and interest. MATURITIES $46,000 due each year from Sept. 20, 1 921 , to Sept, 20, 1960, inclusive PRICES 1921 to 1925 inclusive to yield 6. 1926 to 1929 inclusive to yield 5.65. 1930 to 1934 inclusive to yield 5.75. 1935 to 1939 inclusive to yield 5.70. 1940 to 1944 Inclusive to yield 5.60. 1945 to 1949 inclusive to yield 5.55. I960 to 1960 inclusive to yield 5.80. Legality to be approved by Squires, Sanders & Dompsey, Cleveland, 0. Bankers Trust Company Guaranty Trust Company New York of New York Remick, Hodges & Co. First Trast & Savings Bank New York Chicago R. L. Day & Co. New York Detroit Trust Company Detroit Halsey, Stuart & Co., Inc. Philadelphia New York the Day HAS. .ARRIVED ! when Philadelphiam no longer talk about the possibilities of their port, but rather about its advantages. Years of loyal work on the part of public spirited individuals and institutions have made it possible for the present generation to look upon the accomplished fact instead of a distant prospect. This bank joins with others in grati tude to those who made this possible and with others it will strive to continue the great work. THE PHILADELPHIA NATIONAL BANK 4.21 CHESTNUT STRUT GOSSIP OF THE STREET New York Bonds t8.lL.Kfl IN ilM1 Trtn Opralnr Until liM p. m. (N. Y. Time) WIRE CAS & FUEL CO. "!, CoBvsrtlbte SlnMitf Fnd Nilu,i'1tt4 ' & a,."- tt Mwtfi AiulyHt" RatuTMia JM"' &ice to Yiold 10 ParUcvtara on ranjuast an in martin & uo. UiiWalnutSt. GEO. A. HUHN & SONS flTOCKB AND DOfOlS Millas ViX " Chlew Sfl MMtm.triterMMHMia.mw N Ynk Cott.n EJcb.pi. Commission Orders Executed In AM th! PrlnclP-1 Markat. detxetct; court bum). 1411 Walnut St. NEW T011K OFICP lit Jlreadwar. Kw York .s n.ll..a rmnsnv Raftf.. iriisiiia iisi iim "- ----- yjrtlnl. WWT.yrxmv.nr an uu V'tlYr:r.,ZTZZZZ; ndaro uaa -"" " :mtIr Kannina viirM Intnl. r.wrr l Atn il IJnian Trael Srracua .Z. Llah CanDrcilcol K 8AJIITEL UontluS A. Ik.JI fempawr 'a MJ wnpanr ; J J4 Aiht Company.,.. ,S a IMS it,,, Co. Lxnehburii CaU.,6 a IPSO .Ujlnlfh.m flaa Co J a lH etion at Indiana ?,. JI? k. riircfirs'. company .1 lllln.l. Mf lean Ra, to. NEWBURGER. HENDERSON I LOEB Mtnhtr lima York sass) PhilodrtpMa Stock Eaehatf 1410 ChMtnut St To Yield 7.10 Vne ramaa. Btata Tax Lehigh Valley ConsoL 4Vb J. & Dec, 1923 (feesM. Morgan & Co. There itemed to be a general feet Inf of confidence after the closing on Saturday that the forward -movement In the market would be continued this week and prices of securities tarried to taUl' hither lerels. In all events, there hss been a pronounced chante in market sentiment since the Maine election and the overwhelming success of the French loan. ., Borne of the more enthusiastic of the constructive party retard last week's performance of the market as absolute evidence that a bull campaign has been in progress for some time without the speculative element being ware of the fact. It Is quite certain, at all events, Judging from the uncom fortablo experience of tha r.aptlnnarv party, that a very large majority of the professional trading element had Doen sui"7 or maaing a serious mis calculation of the market's technical and fundamental position. It is not the. first time, however, that profes sional Wall utreet has overstepped the mark and their error this time, as on former occasions, furnished the nucleus f or the ' upblddlng of prices. . i "Much, depends, of course,upon money market conditions. Many seem to think a marked change in the monetary sit uation has taken place. It Is esti mated folly $10,000,000 was loaned on time last week at 8 and 84 per cent, which is about the only considerable mount of time money put out since May. There Is, however, no concrete evidence which could be accepted as reliable signs that would Indicate im mediate material change In the money market conditions. Probably the real test will come this week, particularly should there be a further broadening oi specuianve activity.. Frfelght Situation Improving Officials of railroads operating east from Chicago and .St. Louis report further Improvement in the general freight situation, a favorable develop ment being the relnstatlnr of a larse number of veteran switchmen who have been on strike since early In the spring. Bteel plants are still working actively on old, orders In addition to some new business, and this has furnished the roads with good deal of tonnage. The all-rail business in grain, both from western points direct to the sea board, and the local movement from the country has been good compared to last year. It appears that a good deal of grain was bought for export this last summer for direct shipment from interior points other than the lending terminal markets. In conse quence, much grain shows up first at the export ports Instead of at primary market centers. Pennsy Shareholders at Record Mark Evidence of investment buying of the railroad shares In August, following the increase in rates granted by the Interstate Commerce Commission, Is found in the increase in the number of shareholders of the Pennsylvania Rail road Co. On September 1, holders of Pennsylvania shares numbered 128,303, an Increase of 008 over August 1, and 15,440 over September 1.-1010. Since the first of the year the increase totals 10.638. In beth number of shareholders and in average holdlne the BentemW 1 figures constitute new record. Wom.n 1 stockholders on September 1 num bered ui,3H, an increase of 0188 over the preceding year, and ther hM 30.07 per cent of the $500,000,000 capital stock, as against 30.07 per cent on September 1, 1010. On September 1, foreigners held 1.64 per cent of the stock, or about $8,200,000 as compared with approximately 15 per cent, or $75,000,000 before the war. Says Crisis Is Pt "I believe we have reached the zenith of uncertain conditions and from now on there will be steady and substantial Improvement," Isaac Guggenheim, di rector of the American Smelting' and Refining Co., is quoted to have said, upon his return to this country, after several months spent abroad studying the foreign situation. "It Is the feeling among industrial leaders In England." Mr. Uuggenhlci continued, "that the crisis has been reached and more certainty and op timism Is evident Of course, my ob servation is general, aince I have paid little attention to the matter of business during my absence." Drokers More Hopeful There is n striking change in the teuor of the weekly market-letters of most of the commission houses. The belief seems to be quite .general that the market is on the road toward higher prices and broader trading. Opinions of some of the houses follow : Hughes & Deir Judging from the action of the stock market during the last week, public participation Is. mak ing itself more apparent and we may expect a definite revival of activity and rising prices before many weeks. The election result in Maine was construed as a bullish argument, although It had generally been believed that the Re publican party would carry the state. From now on, more attention will prob ably be given to the political situation. The money market continues to show improvement, and with the third in stallment of Income tax payments out of the way, more betterment is antici pated. While industrial depression is less acute, we still look upon the rails as offering the best opportunities from on Investment and market standpoint, al though oil shares of the better class are being well taken. Jones & Baker Just before the ex plosion which resulted in temporarily closing the exchanges, a real bull market was getting under way. With an easing of money rates, failure of a number of strikes and the outcome of the presidential election to anticipate, a general rising market is expected in which the established oil securities should take a prominent part. Ileeker ft Co.: Railroad storks of a seasoned dividend record which have been depressed by the war are slowly appreciating in price. This movement will continue. Money, like other com modities, will work lower, while bond prices, as a result thereof, will work higher. The non-dividend and reorgan ised rails will also respond to the bettor feeling and sell higher. Everything po litical and otherwise points to a pro longed period of reconstruction, prngr ress and optimism. No one should al low themselves to be misled by tem porary discouraging incidents. Chandler Bros, ft Co. "Jn the face of continued opposition and the malntc "nance of a T per cent money rate, hc prcussionais nnu ic as uimcuit to depart- prices to any great extent as the operators for an advance to make' much headway, Every advance thus far has been met by attacks upon certain spe cialties. The favorite targets this week were the steel shares, the trade condi tions in which Industry it is claimed are unfavorable enough to warrant further destines; Republic Steel, United Rtates Steel, Bethlehem Steel and even some of the equipments, notably Baldwin Lo comotive, which declined to 107, were freely s61d. The Important question. la what extent these 'sales are for short I mnnh" V It Amer Smell's lU's Ss 1 7BH ...... li a ibh a 75H 8. 7ft .3. . . 76 Am.r'n Act A Ch.rn d Sa 1 01 A T.l A T.l clt 6 7S A T.l T.l 0i 1..... 70V A T.l A T.l 3..... BBK 3 B0U Ans-Pr.nch 8a 1.. 1.... 3.... ' B.... " 17.... 10. 100 ieo 100 too 100 100 ioo U ? Atch Totxka. A s re 4e 8.1... 75 Mi Atch TASK. er 4a '(0 10 8IK AU O Lin. clt lasses 68 Atl a Una 1 7B Bait A Ohio U B SH Bait A Ohio u. 1 OS 0 89fc B 8 B.ortE WVI4I i eavi 3 3H D A O B W'n Rlr SVta S 78 10 7B Brk U E'd lit 1 B7 Buah Bids Is 1 60U C.n'l ot O. Oi 10 ST 8..... B7U Ont'l Pao lit 10 72 3 72 1 72tt Ctl raclSo 8ft 1 77 C A Oov 4Hs I B TOtt 33 7BH 2B 70H 35 7BH 1 7SH C'K o er 87 8314 3 SB S 8BH ZS BB 3 SSU SB 83 Chi j Alton 8. 3 44 C Alton Bh 1 SIH 1 88 C B'n A Q it 3 86 33 SOU IB 06 H 8 SSH 2 03 8 06 H 23 06 H . 4 09H B 96H Chi A Own 4t 8 BS Cnleaa-u Mil A Ot F d 4a .10 esH Chlcaso Mil A 811' 4s 23 3 77m CUltaao Mil DIP cv 4Ha B 71 Chtcaco Mil A StP fd 4tte i es 8 62 Chlcaso Mil A 0 P cv Ba 3 71 3 71 1..... 71 Chlcaso Mil A StP W A M 2 S3 Chlcaso n I'd Jk rao ra i esu Chlcaso nail' war. sa 1 81 Chi A W I 4a 1 60 Cftll. Cop'r 6t 10 10 2 88U sa saK 3 BStt Etl. Rr Co 4t 0i.... SIH 0 88 W Ocnl Eleo Be ..S4U ,0ne'l Elo 0. 1 tStt Oova't French nD Sa wt 8, 20.... 8.... 4.... B0.... 80.... 38.... 40.... 20.... 4.... 28.... 4.... 6.... 1.... 1.... 10.... 1.... IB.... 20.... 10.... 14.... B.... 2.... 8.... 1.... IB 101 tt 101 W 101 lOITi 102 101T4 101 103 101 101 101 101 101 102 101 101 101 101 101 101 101 101 102 101 101 102 nc&dlns XW 4a 1 80 4., 81 10 80 10 SOU Hock Iiln'd A A Ii 4a 1 87 Ban Antonla A 1 4)1 St L, I'll k A S'n nr 4a IB 74 1 74 at Louii a a Fran a4 1 B 3 8. . . .. B. .. 1 B. ... 2. . . . . 6. . , . 10. . St Loula Fran In 8 2 3 1 O Bwta'd ret. 8..... 102 2... 102 2.... 10144 Oram B A Wn Itwjr B 10 9 2 944 Or.at North' n Bwr lat 1 80 Hud A Man (d 2 SOU uuu nan in 8 24U Til C.n'l 4a '33 3 70 Intboro 11 14 1 17 8 17 6 17 6 17 10 17 2 IT IntiwroTtT ti B 48 B 48 3 41 10 48 1'..... 48 4 4BU I M Marin. 6a, 3 81 3 81 8 81 1 81 8 81 Jap Oova't lit 8 78 6 7B 10 78 H 10 7B 0 TO 10 78 Jap Gov.'t 2d 20 7B 7 7B 18 7B 10 78 8 78 1 78U Jap Uore't 4. 2 89 1 SB Kan CiUi 2 84 6 84 2 84 Kan C A B fi. 1 70 1 TO Kan City Tr I nwr 4s 2 71 K U.lsm 7a BONDING CO. EVADES MAYOR'S ORDER National Surety Conoern Con tinues to Recelvo Share of the City's Business es 66 66 60 66 67 66 67 er 67 67 S 67 BT 07 ' ! SMITH FINDS A LOOPHOLE 66 87 87 87 87 67 B7 BT B.... 2.... 10.... 10.... 8.... 1.... 1 81 L, A 8 Fran 84rlaa A 1..... 89 S 60 1 89 4 B9 Bt 1 A B Fran B.rl.s 3 73 1 71 1 tl 18...'.. 73 BtL A Bwn en T 04 BlLi A Pwn 3d 1 B2 Bt L A Bwn Ba 3 B2H 0t I-l A K O Short Ij 4e 1 nu S.ab'd A" aj 1 88 b sa 3 88 lB.t... 88 S 88 fi 87 S.ab'd ALld 3 48 S'n raclflo tt 1 74 4.,... 74 3..... 74 B'n PaolHo 4a S 69 B'n Pao cv 4a l....i 7T 3.... 77 B'n Pao ov 8a 07 87 07 97 97 BT 97 22. 9.. 20.. 10.. 21.. 10.. 2. 100 101 100 100 100 100 100 74 74 74 74 74 74 74 74 B 8 43 1 8 1 1 1 Chll. Cop'r 7a 4 99 4 09 Chine.. Oova't H-K nrs Ba 2 43 7 48 3 48 7 48 City Dord'x 6. 1 88 Cltr Mare" a fl 3 8B Ctr New Tork 4e 'SO 1 88 Cltr Parte 6. 38 94 1 04 4 04 1 94 Col A B'n 4e 2 T3 Cone'd Gee 7. 1 00 2 88 Cuban C a cv 13 98 1 B8 1 B8 3 88 D.I Hud -v B 88 Del b Had 7a 1.... 101 Den A It a (d 1 01 In A n a U 1 68 1 6B D A It O 4a 2 80 D Canada "20 1 80 Dominion Re- publlo Ba 1 82 1 82 2 82 1 62 1 82 Erie Oen Lien 20 48 1 40 6 48 B 48 B 48 1 48 Erie It It cv A 1 48 B 43 Erie n II cv II S 48 Erie It II ov D 8. 10.. 1.. 8.. 10.. IB.. 6.. 2.. 20.. IB.. 46 49 68 83 B2 88 B2 88 83 88 3 3, 1 a 8 10 16 Us A M D lat 3.... 100 4.... 100 L. Ial It Ba '37 0 64 LAN rcta 7a 8.... 102 Mln A Bt I, 4a 3 44 M A BtL en 3. 1 78 1 78 4 78 1 78 4 78 Mln St P A 8 Hto M 4a 2 78 Mo K A T fd B 48 Mo Pao sm 4 1 S6 3 86 Uo 1'ao Ba 20 2 66 Mo Pao Ba '68 1 83 Mont Povrr Ba B 81 N Y C A It It It I en 4a 1 60 N T C A It II U It na 4a 1 47 N V C 4 II II R It 6a 10 91 1 01 1 91 1 814. 8 01 1 01 N T C A II n R R 6a a 66 H T C a II II n R ct 7s 1.... 100 4.... 100 3.... 100 I.... 100 N.w Tork CI L, B 8a 3 41 N T Tela 4a 10 T8 N T Tela'a 6a 3 88 N.w T W C A Boit 4 e B 4T rTk A Wn 4a 3 74 N"k W cv 6. 1.... 101 19.... 101 N'n Pacific 3a 1 64 N'n Pacific 4i B 76 Ores A Cat Bt 3 87 Oregon 8 L 4 4 70 Penna 11 II 4 4 70 Penna R It it 1 86 1 86 Penna R'Tl 7a 1.... 103 10.... 1014 3.... 108 8.... 103S 1.... 103 2.... 103 Phil County ev 8 87 rhlla Ilwyj 4a 6 41U Pile Cln Chi A Bt Louie Be 1 78 Bn nallwa 4a 10 60 0 60 11 60 1 60 B'n Ilallwa Be B 83 S'n Rwy Mem 3..w 8S Tenn C Iron A It R Co Ba 1 83 Third Are aj 1 34 1 24 Union Pao cv 10 SZH 4 81 Union Pao fd 1 76 Union Pac 4a 1 80 3 80 7 80 Union Pao 6a 8 06 1 87 1 B7 1 87 U K of O Ilrlt A I'd 1921 28 97 10 07 2 90 4 07 B 07 10 07 UKotO Urlt A I'd 1922 Notwithstanding the fact that it tins been blacklisted by Mayor Moore, the National Surety Co., of New York, conunnes to receive business in connec tlon with city contracts through Its local agent, the Thomas IJ. Smith Co, which is- controlled by former Mayor Smith. That became known in thls'clty after curiosity had been excited by circulars distributed by the Thomas B. Smith Co. among Its usual contractor cus tomers conveying the information thnt the Arm, In spite of the attitude of the city toward the National Surety Co., was still able to furnish them with bonds on their municipal contracts. Itelatlre to th contracts it wan said that the Thomas B. Smith Co. was not only endeavoring to retain Its old busl ness but alio tn ntitatn new business. Investigation revealed that the Thomas B. Smith Co. was continuing its business of furnishing bonds on city contracts by an Ingenious evasion of the proscription of the National Surety Co. The Thomas n. Rmlth Co.. It was found, urn. mvuntlnv business in thfl name of the National Surety Co. It was furnishing bonds, not written, however, by the National Surety Co., but hv thi. FMMItv and Deposit Co. and the Royal Indemnity Co. It was discovered that, althouch those two mmnontp. nrrnti thA hnnds. an agree meut existed whereby they assumed no responsibility whatever. All liability tn nnnnnAtlnn with tlin handed COD" trncta remained with the National Surety Co. Contractors to whom bonda were furnished presented tneir """J- mania n rtnnnrlal Conditions Only tf, the National Surety Co. , A contractor, who had formerly nitmroA tha timrf nf rh National Surety Co. and subsequent to the proscription of the company asked permission to change his bondsman, produced as the result of his change the bond ol lone of the two companies assisting the Thomas B. Smith Co. , . , M For the services they thus rendered the Thomas B. Smith Co. In securing business imon city contracts it was found thnt the Fidelity and Deposit Co. and the Itoyal Indemnity Co. received commissions of 10 per cent. It Is said that the city is powerless to preyent the new method of operations of the Thomas B. Smith Co. in bonding municipal, contractors! .While the Na tlonal Surety Co. continues to receive business under that method, it Is lolntvil out. it mn afford to. defer in definitely an announcement as to what nctlon it will take concerning, the $1,025,000 contract for the Northeast sewage disposal plant, Richmond street nnd Wheat Sheaf lane, which has been abandoned by the contractor, the Phila delphia Subway Construction Co. Proscription was imposed on the Na tional Surety Co. by the Mayor until the company agreed to an adjustment of the contract, which was bonded by the com pany for moro than $500,000. At a conference with Director Caven, of pub lic works, almost three weeks ago, rep resentatives of the company promised an announcement of a decision at the expiration of ten days. Although that period ended n week ago, no word has yet been received from the company. APPROVE HEALTH TRAINING Harding and Cox Favor Universal Physical Education Washington, Sept. 20. Support of the movement for universsl physical education is expressed by Senator Harding and Governor Cox in letters made public here last night by the Na tional Physical Education Service. . Senator Hording In his letter pointed out that the war draft disclosed that between 26 and 30 per cent of the youn men examined were incapacitated for service, and that examination of chil dren in the pub'le schools have shown nearly BO per cent have minor or major physical deficiencies'. The Republican nominee added : "I believe,' therefore, that a neces sary task is before us. We must remedy that condition. We muft strengthen our national health service; we must not allow that service to be come dictatorial and bureaucratic, but we must use It to educate and stimu late action by our communities and our citizenship." Governor Cox sold he was "In full agreement" with the views of the serv ice "with reference to one of the out standing lessons of the war," and added : "We have been giving more atten tion to the perfection of the physical type in farm animals than we nave in humanity. If there had been anything like the prevalence of diseases among livestock such as has been registered in the young manhood of the country we would have heard the alarm sounded long ago." "Civic" 8unday" In Mlllvllle Mlllvllle, N. i., Sept. 20. Civic Sunday" was observed here in most of the local churches and the pastors de'lvered special sermons emphasizing civic Ideals. To give impetus to the Chamber of Commerce drive the busi ness men will glye a dinner in the First M. E. Temple Tuesday evening. Dr. A. R. Blade will act as toast master, and the chief sneaker will be J. C. R. Foster, of New York city. iFiRiiiir shows progress; InJ Prdduotion of Manufactured Goods Also Increases Air Service Organized ,;: tt sfl IMPORTS AND EXPORTS GAIN- New Torlt, Sept. CO. The forelg trade statistics of Belgium for the first five months of the present year l"8 veal continued progress, particularly la the production of manufactured goodSi , according to n statement by the Otiar anty Trust Co. The raw materials ex ported during the nrlod were valued at 1 4B7.4-10.OOO francs, compared with J4S.000.000 francs in 1010. and the manufactured articles at 1.O00.404.O0O francs, compared with 40.203.000 francs In 1010. The total cxportatlons for the first five months of 1020 were 8,307 203,000 francs, corannred with 212, 174.000 francs in 1010. nnd tho total importations were 4.710.037.000 francs, compared with 1,270,033,000 francs is 1010. United States Is Third on List The United States was third in the list of countries from which the largest importations were made, being Bur passed only by France and Orest Britain. Of the countries importing Belgian goods, tho United States -was fifth in the list, tho four leading coun tries being France, Crept Britain. Cer many and Holland. The United States, with Imports valued at 110.701,143 francs, was c1oeJy followed by Swltzer--land with 118,203,000 francs. The comparatively great importance) of Belglunrs agriculture Is little ap-. predated abroad. Before the war tns annual agricultural production of the country was estimated at about 2,000,- ' 000,000 francs, or more than the value J of all the other Industries combined. Ot , the 2,050.000 hectares of land in Bel- . glum 1,050,000 are employed in farm ing by 820,000 farmers, making sa average of about two and one-half , hectares for each farmer. The land is ,. of course intensively cultivated and . made to yield its maximum production. . Belgium ordinarily produces more thast enough to supply her own needs of all agricultural products except wheat, and before the war exported potatoes, sugar ' and fruits of all sorts. Naturally the situation this year is not as ( favorable as in pre-war years, but it may be saJ4 that much progress has been made, and that Bclrlum will be much 'less do- . pendent upon foreign sources of supply than In recent years. KM ?! n!t d i '4 2B 08 23 0B 23 08 11 03 25 03 100 05 23 05S 10 93 23 03 10 0B 23 9B UKotO Ilrlt A I'd 1920 1 88 81 80 25..,.. 83 1 B 8 80 20 80 U K of O Brit A I'd 1087 18 82 2B 82 28 82 88 82 2 82 l....8Z 17 82 7 82 20 82 10 82 U S Msxtco s 10 84 U 8 M.ztco Si 10 42 20 42 4 42 1 41 10 41 B 41 U 8 Itub'r Bi 2 70 2 72 U 8 Itub 7s 8 08 1 08 in os 2 08 1 08 1 03 U'd B Steel Ba 10 02 1 02 1 01 1 02 1 91 Va Tlallwa Ba 1 70 Wea'n Eleo fia 1 03 Weat'n Md 4a 1 62 1 B24. W.at'n NT Fa n n lat 1 84 Wra'n Tao Ial 1 81 W union 4a i 1 7B Wilson Co c 1 82 B...w 82 Wilson Co lat 1 88 1 88 Wla Ont'l 4a 1 70 National Bank of Commerce ' 1 inNewYork - - Established 1839 m STATEMENT OF CONDITION ' ' H SEPTEMBER 8, 1920 , ' I . wjl II Resource liabilities II ''$M . Loans and Discounts $310,748,229.90 Capital Paid up $25,M;tMQ.09 - jB U. S. Certificates of Itidebt- Surplus 35.000.00P.M , 1 edness 187,500.00 .....-- - - 1 J Other Bonds and Securities 1S.981.0S6.I4 Undivided Profits 7,695,966.10 U. S. Bonds Borrowed 6,000,000.00 Deposits 324,861,019.29 J Stock of Federal Reserve U. S. Bonds Borrowed 6.000,000.00 .. ' Bank 1,500,000.00 ... . , ... . . I a f xj innnnnnnn Rediscounts with Federal ' Banking House 4,000,000.00 .... n,t, mitm i I - , . j- . . Reserve Bank 35,904,625.00 II I j, Cash, Exchanges, and due . . ' .4 from Federal Reserve Bank 93,250,288.55 Reserved for Taxes, etc. .. . 3,965,168.38 Due from Banks and Bankers 5,636,769.79 Unearned Discount 2,997,178.37 i Interest Accrued 399,689.90 Letters of Credit and Ac Customers Liability under . I . Letters of Credit and Ac- ceptances 62,069,823.95 ceptanccs 59,483,025,38 Other Liabilities 3,692.778.57 $497,186,559.66 I $497,. 86,55$.6 ' t rnmmiDmmr II JAMES 8. ALEXANDER ' II vtOfrnMmiDMurm ;. J. HOWARD ARDHEY HERBERT P. HOWELL FASIS . RUSSELL JOSEPH A. BRODERICK LOUIS A. KEIDEL STEVENSON E WARD OUY EMERSON DAVID H. O. PENNY ROQEft H. WILLIAMS I JOHN E. ROVEN8KY ? aoowo vtowrnmai oumrm II t) HARRY P. BARRANO JAMES I. CLARKE EVERETT E RISLEV II A LOUIS P. CHRI8TENSON ARCHIBALD F. MAXWELL HENRY O STEVENS J EDWARD H. RAWL8 ' vcna CUttMftTff 4UOfTO 4 ov 'ASSMORE ALBERT EMERTON . ) OffttTOrOffa) I '2 MMKS S. ALKXANDER NEItatKItT P. HOWKU. CHMUS II mini fi, WILLIAM A. DAY ANDREW W. MELLON VAUNTINK P "smSH & HENRY W. da FOREST marrv st tm ' I rOPTK9T r DfCTDEPI -..sbsssIsssssw JAMES TIUDcny II T CHARLES LDUNLAP V THOMA?WrUMMS lllBIHBBSnKlnBKKBnmBliCjM KjPUtjtUaal 1 4&11 8HBaMjjaaBSSMBasrBaSjiaaajajjaajaaBa I1-- -.-! i ai . ...Jlgf IvffVlll 1W'MM8sssbWsW f V II I - I Liberty 3s ... Liberty 1st 4V4s., Liberty. 2d 41,4s.. Liberty 3d 4Vi.. Liberty 4th 4Vis. Vic Notes 3s.. Vic Notes 4n. . Hlsn 00.18 85.04 85.28 88.50 85.58 05.50 05.50 Low 00.02 85.80 85.18 88.42 85.48 05.52 05.52 N. T. lime. I 11:18 a. m 00.18 85.00 85.20 88.40 85.51 05.52 05.54 GOVERNMENT DOND3 Sid. rnam coupon 2a. 1088 101 ranama rsit.r.l 3a. 1008.. ,101V Panama ooupon Sj. 108..... .tjljt Panama r.(latrr4 2a, 1838...101K Panama coupon 8;, 1081...... 7T Panama reslat.rnl 8a, 1881... 7T rtilllDpina 4a. 1084 TS Hillltmlna 4a. 1088 13 Pnllipiflna 4a. 1088 "till"". 19, V B Govt ooupon 3a, 1888.,, ,1st1 V B Oovt raaiatarad 3a. 1880.. loi II H CloYt eoupBn. 4a, l0...,J0(l Aak 102 103 103 102 80 80 88 88 88 111 106 108' y THE NATIONAL CITY BANK OF NEW YORK AND BRANCHES Condensed Statement of Condition as of September 8, 1920 ASSETS CASH on Hand, in Federal Reserve Bank, due from Banks, Bankers and U. S. Treasurer Acceptances of Other Banks ....... , United 5ttes Treasury Csrtincatss ..... i $231,089,076.57 10.662,822.71 19,454,000.00 1261,205,899.28 594.808.049 62 38,047.965.13 1300,000.00 HmIOIm II Wall Street MawYsafc Loans and Discounts United States Bonds, other Bonds and Securities Stock In Federal Reserve Bank ...... Banking House Due from Branches Customers' Liability Account of Acceptances . Other Assets ...... LIABILITIES Capital. Surplus and Undivided Profits . . ueposits Reserved for Taxes and Interest Accrued . unearned lhicoutu , , , . Circulation ........ Due to Federal PanM nU Other Bank Acceptances and ForeJfnBms 'sold with our " Endorsement , Acceptances. Cash Utters cf' Credit and travelers'' Checks T Bonds Borroweej ........ Othsr Liabilities m m ' 1 1 1 I 1 1 '' ' 634,656,014.73 5,000,000.00 8,425,402.57 70441,181.74 3.226.076.37 8952.854,574.71 86.4059938 52,560.689.24 4028.78MO 3,425.234.54 1.394,432.50 133.057,807.02 21.851,006.60 74J39.959.13 2.333,200.00 3.457,494.52 .1 W W2JS4.574.71 U a uvil rr,ii,i.n its iv.viiiun1 Dlit ot Columbia S-3a. 1C24,, 93 VI T""aajBaBBPaj &M -; d&&$&&u U.f. -vsrtja. it i'Wifi TIIE TIUDBn. I&,J,,ma . . jtuiM: