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Guaranty TWst Company
of New York
NEW YORK
LIVERPOOL
LONDON
HAVRE
PARIS
BRUSSELS
CONSTANTINOPLE
Condensed Statement, September 30, 1920
RESOURCES
Cash-On Hand and in Banks $111,306,421.14
Exchange for Clearing Houm 70,921,949.74
Loan and Bills Purchased 521,477,002.28
U. S. Gorernment'Bonds and Certificates 33,262,404.09
Public Securities 30,405,706.50
Other Securities .S 45,154,659.21
Bonds and Mortgages 2,335950.00
Foreign Exchange 21,446,069.24
Credits Granted on Acceptances 63,684,741.70
Real Estate : 8,529,07537
Accrued Interest and Accounts Receivable 12,281,276.95
' $920.805,256.22
LIABILITIES .
Capital $25,000,000.00
Surplus Fund u v....:... 25,000,000.00
Undivided Profits 10,754,227.55
$60,754,227.55
Notes and Bills Rediscounted with Federal
Reserve Bank 19,050,000.00
Notes Secured by Liberty Bonds Rediscounted
with Federal Reserve Bank. '. . . . 24,917,200.22
Due Federal Reserve Bank Against U. S.
Government Obligations 5,000,000.00
Outstanding Dividend Checks 1,043,540.50
Outstanding Treasurer's Checks 30,61 7,242.94
Sundry Foreign Accounts v 14,195,250.19
Acceptances New York Office 49,974,979.70
f Foreign Offices 13,709,762.00
Accrued Interest Payable and Reserves for
Taxes, Expenses, etc. 8,982,767.52
Deposits ... 1 692,560,285.60
$920,805,256.22
At the
Northeast Corner of
BROAD and CHESTNUT
The attention of the public is called to
our uptown office in the central section
of the city, and a visit is invited. tii
An enlargement of this office has just
been completed, and in addition to
ample accommodations for patrons of
the banking department our clients
will find private compartments for the
use of safe renters, committee rooms
for conferences and a special room for
the use of ladies.
Entrance may be mado from either
" Broad Street or Chestnut Street.
P hiladelphiaTrust Company
415 CHESTNUT STREET
BROAD AND CHESTNUT STREETS
(Northeast Corner)
Pure Dean Smith
J. Bertram Red path
ANNOUNCEMENT
WE DESIRE TO ADVISE OUR FRIENDS, AND OTHERS WHO
HAVE OCCASION TO USE THE SERVICES OF STOCK BROK
ERS, THAT OUR PHILADELPHIA OFFICE IS NOW READY
FOR BUSINESS. COMPLETE FACILITIES ARE AT YOUR
DISPOSAL, INCLUDING PRIVATE WIRE CONNECTIONS TO
PRINCIPAL MARKETS AND STATISTICAL INFORMATION
ON ALL KNOWN SECURITIES.
MR. LOUIS C. SCHACTERLE AND MR. FERNAND R. PARADIS,
THE LATTER FOR YEARS CONNECTED WITH THE STONE
& WEBSTER ORGANIZATION, WILL BE ASSOCIATED
WITH US.
Smith, Redpath & Co.
Member Phfladdplua Stock Exchange
1524 WALNUT STREET
Phone Sprue 8880
SALESMEN
Invaitment bnktn Iiwh dealing
only la high trade eourlilee. want a
ealeeman who la looking for food
connection! muit b dean cut and a
worker, Call bet. 12 and 2 o'clock,
1000 Land Title Dulldln.
HCUIDHDOn
HENDEISON&lkB
Members New York and
Philadelphia Stock Exchangee
14(0 Chestnut St.
1 Ml !IMI
GERMAN CATTLE
Request of Allied Reparations
Committoo Calls for Imme
diate Delivery
DOLES & WEST WOOD
Members Phila. Stock Exchange
INVESTMENT
SECURITIES
Land Tltlo Building, Phlfa.
Telephone, Leout472l
BOND MAN
WANTED
Young man. about JO, wanted
with .everal yearr sprleac in
anatyitna taraatroant aaantftlaa.
Tha poelttan le an tnald. on. with
7 financial boura In Philadelphia.
t offer opportunity to capable
man. Otva full perUeolare re.
sardlng axperlanoa, training, for
mar oonneotlona, education and
alary deelred. Replies etriotly
confidential. Addreaa
D OS, tiEDOEB OFFICE
SOCIALISTS VOICE PROTEST
Berlin, Oct. 18. Tho Allied Repara
tion Commission, according to Vor
waerts, has presented to tha German
Government a demand for the imme
diate delivery of 10.000 bull and
500,000 cows to France, 11,100 head
of cattlo to Italy, 210,000 cows to Bel
glum and 157,000 head of cattle to
Tho" congress of tho Majority So
cialist party, at Cased, has passed a
resolution calling upon the Socialist
parties of all countries to prevent Ger
many from being compelled to hand
over cattlo to foreign countries.
London, Oct. 18. An appeal for re
establishment of the "friendly Inter
course" which existed before the world
war has been addressed to professors
of arts and sciences nnd members of
universities and learned societies in
Germany and Austria by a large number
of professors and doctors of Oxford Unl-
Tha tttcr. the text of which Is nrlntcd
in the Times, expresses n dcslro
"to dispel the embittermont of animosi
ties that, under the impulse of loyal
patriotism, may havo passed botween
us.-" ...
The nope is also expressed mat in tno
field where the alms of these bodies are
one a reconciliation may be effected
which will lead to wider sympathy and
better understanding on the part of both
nations "which civilisation demands."
Commenting editorially on this com
munication, the Times says: "The great
majority of Oxford men will share our
regret at this singularly Ill-advised and
Inopportune appeal."
MANYUNSOLVED MURDERS
New York Has 79 In 1920, Phila
delphia Five
Xew York. Oct. 1H. ThPre wcro
.nvxntv.nlne murders in Now York city
during the first nine months of 1020
which stand on the police and district
attorney's records as unsolved. The
circumstances surrounding most of them
arc enveloped in mystery anu me per
petrators probably never will pay tho
penalty for their crimes. Tho police
succeeded in ascertaining the identity of
ilie murderers in u few instances, but
the evidence obtained by the detectives
proved bo filmy that the prisoners were
either turned out in the lower courts or
tho grand jury before which it was
presented failed to find nn indictment.
Philadelphia, like New York, is in tho
e-Hn nf a. crime wave. Between January
1 nnd tho last day of September there
were eighty murders in tiic Pennsylvania
city, Ave ot wnicn rcinnin unnoiveu. at.
Louis, in the same period, had twenty
four murders, onl.v six of which remain
unsolved. Thero were twelve homicides
in Cincinnati in the nine months, nil
but two of which have been cleared up
by the police.
1937 ATTEND PRINCETON
Largest Enrollment In History
New Jersey University
Princeton, N. J.. Oct. 18. Accord
ing to figures mode public hero yester
day, Princeton has the largest enroll
ment In history with a total number of
1037 students. An increase of over 100
students is seen from last year. The
freshman class is the largest that baa
ever entered the university nnd con
tains 447 new men. Tho juniors rank
second with 422 enrolled, the sopho
mores have 304. and the seniors are
lust with 341. Ab usual, the seekers of
the bachelor of arts degree claim the
majority. The bachelors of science rank
next, followed by the civil engineers.
Seventy-six different tinlversites nnd
colleges are represented among the 107
qualifying students. The vnrious insti
tutions are scattered over nearly every
part of the United Htutes, and four
foreign institutions are represented.
Theeo are the Imperial University of
Tokto, Gakushycn University of Toklo.
SUllman College of the Philippines and
Gay Lussac of France. Of the Amer
ican universities, Georgetown leads with
six qualifiers, Colgate, Cornell, Dart
mouth, Pennsylvania and Washington
and Jefferson each have live men.
rrBaff
aV HaBaVvntl
Tioga Trust
Company
"TAe Home of Thrift"
STATEMENT
Sept. 30, 1020
RESOURCES
Cash on Hand and In Banka. .$' 227,793.26
Demand Loans with Collateral 490,256.80
Time Loans 189,852.05
Bonds, Including- U. S. Lib... 826,589.88
Mortgages, lists City Property 164.276.00
Banking House ?ffi '25
Miscellaneous Assets 10,222.37
11,834,059.48
LIABILITIES
Capital Stock "iM'S?
Surplus & Profits JM?"S
Deposits 1,60,0M.97
Dividend Checks outstanding. 99J50
Bills Payable '
Sept. 30, 1010
RESOURCES
$ 181,509.58
849,854.78
" 87,266.85
907,990.01
97,400.00
34,917.47
7,407.37
$1,665,845.51
LIABILITIES
$ 125,000.00
69,291.99
, 1,232,888.02
167.50
288,600.00
CHEER UP!
V,
. fa'
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$1,834,059.48 $1,665,845.51
Checking Accounts recoivo intorest on daily balances in excess of $200.
Savings Accounts receive interest of 3.65 on balancos In excess of ?5.
Time Deposits receive Interest at special rates based upon tho amount
and duration of tho deposit "Alway at Your Service"
Open Monday, Wednesday and Friday Evening, 8t30 to 9 o'clock
RECORD OF OUR GROWTH .
Resources Total
September 30. 1913 5 235,301.28
September 30, 1014 i 398,120.31
September 30, 1915 oo,ooo.uu
Septomber 30, 1916 762,174.09
September, 80, 1917 1,136,490.77
September 30, 1918 1,327,508.05
Soptcmbcr 30, 1919 1,665,845.61
September 30, 1920 1,834,059.48
Accounts
443
.1,899
2,281
3,228
4,424
5,207
6,908
7,263
Cntrlei W. Rotter, President
EdV. C. Snyder, Jr., Sectr & Treai.
Onirics E. Btnrr, Vice President.
Ralph McKelrcr, Asst. Sectr & Treat.
Evidence
On May 26th and June 2d we made the
following statements in these columns:
"Large profits arc surely in store for those
who purchase bonds at the prevailing low
level. Wo offer FIRST MORTGAGE bonds
that have stood the test of time. These
issues which before the war Bold at from
90 to 105 may now be purchased from 50
to 80."
The advances in these issues have been
as much as ten points, and the upward
movement has only fairly started.
la our advice worth anything to you?
If so, communicate with
Edward V. Kane & Co.
Morris Building, Pliiladelphia
Established 16 Years
A vMr asm therm was need for caution-
that fact waa repeatedly pointed out in THE
MAGAZINE OF WALL STREET.
But today
The effect of caution has largely been realized.
Whereas the dollar of yesterday waa worth leaa
than 50c, it is today approaching its full value.
Now is the time to build firmly and substan
tially. Practical judgment, based on common
sense, high ideals and faith unimpaired by
fear, will carry the business man of today ahead
farther than ever before.
We are reaching the turning point.
It is well known that the security market
forecasts business conditions three to six months
in advance '
And the security market has begun to ad
vance. Large investors are buying bonds, which
means that the big corporations will have money
to spend for material, supplies, wages money
which will gradually percolate through all the
channels of enterprise.
Our judgment, based on 32 years of finan
cial experience and observation, on facilities for
interpreting the trend of events which are probably
unexcelled by any other organization, and on
the' researches of a large staff of trained inves
tigators covering not only financial conditions, but
aU leading industries throughout the country
our judgment is that the money situation will
show decided improvement by December; that
security markets are already discounting and
looking forward to the better conditions which
will come it1921, and that business men should
NOW lay their plans for increased activity and
more aggressive policies next year.
We offer this message to the business world
in the. hope that it may be of service.
PUBLISHERS
THE MAGAZINE of WALL STREET
42 Broadway New York City
r
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RobertM.CoyIe&Co.w.,4Spl
INSURANCE
GERMANY TO OUST ZINOVIEV
Independent Socialists Split on Ad
herence to Moscow
Berlin. Oct. 18. M. Zlnoviev and M.
Losowski, Russian Soviet delegates to
the independent Socialist conference at
Halle, have been ordered by the German
Government to leave the country. Their
expulsion will be carried out under the
direction of the Prussiun minister of
interior.
Pending their departure the Russians
will be under close police surveillance
and will not be allowed to receive or
communicate with friends.
Two distinct revolutionary parties,
one pledged to tho dictatorship of the
proletariat through an alliance with
the Third Intornatlnalc, tho other work
ing toward "proletarian comradeship"
in opposition to Moscow, have developed
out of tho wreck of the Independent So
cialists. Tho two conventions ndjourncd, both
claiming the old party's unme. Tho
struggle for the party machinery, in
cluding the Frelhelt, is expected to bo
fought out in Rerlin.
MOTOR MAN WEDS ACTRESS
Maybelle Elklns Becomes the Bride
of George L. Booker
New York, Oct. 18. A rapid-fire
courtship, which incluudcd an early
morning automobile race to Greenwich,
Conn., and a marriage ceremony beforo
a Justice of the peace there came to
light last night. George L. Booker, pres
ident of tho New York branch of tho
Stearns Motor Cor Co., gave a wedding
supper there in honor 'of Maybelle
Elklns, an actress, whom he introduced
aa his wife,
Mrs. Booker appeared early in the
season In tho role of Betty Arnold, with
Florence Reed, In "The Mirage." Sho
will retire from the eta no.
Mr. Booker's father is president of
mo mearns motor uo. at Cleveland,
whore the family resides.
Balloonist! Needed In Army
Young men with a high school educa
tion are being sought by the govern
ment to serve as army balloonista. The
pay is $76 a month and an allowance of
$1 a day while learning, together with
clothing, equipment and quarters and
free medical and dental attention. Only
unmarried men are wanted. Successful
nppuennis win oe sent to ito&s Field,
Los Angeles, Calif., for a ten months'
training course. Colonel V. 8. Valen
tine, army recruiting officer, 1345 Arch
street, has been notified to furnish full
particulars to j.ouug men, interested.
Bought, Sold and Quoted
Commonwealth Finance Corp., Com. and Pfd.
Metropolitan 5 and SOc Stores, Com. and Pfd.
U. S. Mortgage, Com. andJPfd.
East Coast Fisheries, Com. and Pfd.
Eo6t Coast Fisheries Products, Pfd. and V. T. C.
Seaman Oil Co.
U. S. Metal Cap and Seal
H. F. Wilcox Oil and Gas
R. E. Seaman, Inc., Com. and Pfd.
Templar Motors
Revere Motors
JONES & BAKER &r
TeL: Bell, Loctut 4730 Misc. Sees. Dept Tel.: Keystone, Race 1X99
Widener Bldg., Philadelphia
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NEW ISSUE
$1,500,000
Kentucky and West Virginia Power Ca7 Inc
Dated August J920
First Mortgage 7 Gold Bonds
Series A
Due August i, J950
Interest payable February ( aad August 1 at the Guaranty Trust Company of New York
Redeemable as a whole or in part at 103 ana interest on August 1, 1925 or on any interest date thereafter.
Coupon Bonds of $1,000, $500 and $100 denominations. $1,000 coupon bonds may be registered as to principal.
Company agrees to pay Normal Federal Income Tax not to exceed 2rc. It
also agrees to re
These bonds and
Hartman, Vice-Presiden
following points are tak
" The highest grade
Appalachian K
Vi
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VfB
Ihs.
, when paid and claimed by holders, the Pennsylvania
iour mill personal property tax.
iroperty of the Company arc fully described in a letter of Mr. H. T.
jcneral Manager of the Company, which will be sent on request. The
' this letter:
ous coal deposits in the United States are located in the
'tending; from Pennsylvania southwest to Alabama
The Kentucky and West Virginia Power Company, Inc, supplies without compe
tition electric power and Kght to a territory located in the center of this region
and having a fSopulation of over 150,000.
.The territory supplied produces annually over 5 of the bituminous coal produced
in the United States and is underlain by deposits of the best quality steam,
domestic, gas, and by-product coal These deposits contain sufficient mineable
coal to last many hundred years at the present rate of mining.
Sinking funds are provided for which should retire more than one-third of the bonds
issued under this mortgage before maturity.
EARNINGS .
OP TOE SYSTEM AS OFFICIALLY BEPOUTED FOR THE YEAH ENDING JULY St, 1030
Gross Earnings $1,116,934.88
Operating; Expenses, Taxes and Maintenance ...... 703,408.59
Net Earnings $413,526.29
Accrued Interest on all Debt . 194,139.68
Balance . . . $219,386.61
The annual interest on the bonds to be outstanding at the completion
ofnaeaent financing is $240,560.
The above earnings do not retlSh full Jhe increases which should result from this financing,
v ,
We Recommend these Bonds for Investment
PRICE 91& AND INTEREST TO YIELD 734
eQffin & Burr
Incorporated
New York
Reiflyy Brock & Co
Philadelphia1
'West & Qo.
Philadelphia New York
All statements in this advertisement are from official sources or from those which we regard as reliable.
Bonds are offered subject to 'final favorable legal opinion.
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