U ' V, trtj? 3) ) n, t i A 20 -Year 712 Bond Secured by direct flrst mortftnfte on the property of The Pennvl vsnln-Ohlo . Power tt Llsht Company valued substantially In excess of total bonded debt, aubject to $1,989,000 divisional bondi, The company aervea n territory covering 600 aquare mllea mldwnv between Pitta burgh and Cleveland, Including Younmtown, O, The prosperity of thla territory la Indicated, by the 100 Increase In the electrlo llltht and power business during tte past Ave years. Price to yield 7.85 Writo for circular Bonbright & Company 437 Chestnut Street Philadelphia New York Chicago Boston Detroit Specialist in OHIO MOTOR. RUBBER AND STEEL SECURITIES COMPLETE SERVICE In All Forms of Investment Main Departments Investment, Brokerage Acceptance, Liberty Bonds Foreign Exchange Statistical, Ohio Securities Extensive Private Wiro Connections Members of New York and Other Principal Stock Exchanges OTIS& CO. Investment Banker CLEVELAND New York Boston Detroit Cincinnati Columbus Toledo Vkron Ytunrstnwn Denver Colnrndo Spr'ntr Broker or Bond Salesman Wanted Boston firm having under written entire issue five-year first mortgage bond on old established producing copper property, desires Philadelphia connection to distribute part of issue. Assets eight times en tire bond issue. Address J. S. O., care C 607, Ledger Office. Let us submit for your consideration Investment Suggestions suitable for those who wish to have their money provide the best possible returns from good se curities. Write for Our List No. L-8 A. B. Leach & Co., Inc. InvcMtment Securities 115 South Fourth St. A High-Grade Industrial IJaltlmorc Tube Co., Inc., 7 Preferred Stock Currying Common Stock Ilonus Manufacturinjr Scamles.i Urnss and Copper Tubes and Brass and Copper Sheets at Baltimore, Md. In successful operation for more than 10 yenrs Preferred dlv'dend earned moro than four times. Lareo equity In common stock following. Wo recommend this stock for Investment. JosepKW.Gross &Co. 1421 Chestnut St Correspondents Aldrcd & Company East St. Louis & Suburban Co. Convertible 7i, 1921 Chattanooga Railway & Light Co. lit & Refunding 5, 1956 BANKKUS 321 Chestnut St., Philadelphia Uembert Ntv) York and Philadelphia Block Exchanges BOND SALESMAN TO pIHPOBF! Or I.IMITHD AMOUNT OFM'nirTLY IIKllI-Cr.Afia 0ND IBIWB TO CMRNTEI.FI CALL locust nsn. on ni5 otock ex. chano"! mm.DiNO. J. P. MAGILL & CO. Investment Bonds LAND TITLE ULDO. Phila. Spruce 7263 iCAPITALS500,OOOjOa (( SURPLUS (EARNED) 11 II $2,000,600.00 Jl WILL YOU decide for yourself how your Estate shall be distributed by making a Will and appoint ing the Northern Trust Company your Executor and Trustee or will you postpone making your Will until it is too late and let it be administered ac cording to law and perhaps pass into the hands of others than those dearest to you? Let us mail you a copy of "The First Step in Making Your Will" which will be a great help to you in the systematic ar rangement for the disposition of your Estate. Open 8:30 A. M. Till Mldnleht for Receiving Deposits and Cashing Checks Franldiiijfjr'ust Co WANTED Stenographer for Investment Banking House also Assistant Bookkeeper C 615, Ledger Office Security Salesman HlKh-urado, experienced man, with good acquaintance, or clientele, wanted to open offlco In each Im portant city In eastern I'onnHyl vanla, Now Jersey, Dolawaro and Maryland, Tho proposition Is a splendid ono from tho viewpoint of both the Investor and unlesnmn, and presents opportunity to establish a Kood-paylng, permanent business. Liberal commission policy, but no advances. Write fully In confidence, and arranno for Interview. C 611, ledger Ottlte. START NOW TO BUILD FOR THE FUTURE TbrouRh tho Investment (if your tavlnjts In hlRh grade, dividend paying securities, indcr our iO Payment IMan Send for Booklet, and our fcrarket Survey and nrket Opinion .... Muke sour amines earn the rlibt Income Scott & Stump Investment Hecarltles STOCK EXCIIANU1S IIUILDtNO ; nil I'M. I'miuaniiuiB. 40 Exchange Flare Neir Tot rnMe.vllle ond cnatnn.r.hnri'. P. I ,-. ernnlfujoll Ufilcnn H I inuill ' VlUUnilUii imii tiiiiiii Certified Public Accountant! Land Title Bldg., Philadelphia Hecker & Co. Bankers and Brokers Members ot Phil idrlohln and New York Stock Kxrhnnref N. E. COB. OTII AND CIIKHTNUT STfll Lawrence E. Brown & Co. CERTIFIED PUBLIC ACCOUNTANTS 1C50 llUAL KSTATK TRTJ8T III.IM1. TnvrMlKnte nnd artjtmt pnrtnrritilp and corporation arpounn. Also prepare V, B. Ircome Tax Hetrima. L - .. Service Location Advice Complete Banking Facilities Third National Bank Opposite Broad Street Station FINANCIAL POCAHONTAS CONSOLIDATED COLLIERIES CAMPAHY, INCORPORATED nfty-Yeur Five Prr Cent Gold Bonds, j Due July l, 1857 j Notice Is hereby given, pursuant to the termB of the MortgaKo dated July 1st. 1007, that the undersigned, as Trustee, will re rclo Keuled lironusale ud to 8 00 1. SI,, on the 8th day of December. 1020 for th sale ' to II oi wnm t wuuvn iivBrnueu sumcjnni I to use the sum of 148 Rlil.77. The under i slimed reserws the riant to reject any or all I tndre, . THIS NEW JUIUk. llmi" UU&ri'ANY, Trustee, Dy 11. a CUnTIB. Secretary. New York October HI 1920. Annual Meetlnr TnE ANNUAL MKKT1NO OF TUB BTOCR. holders of the C (lien; Hank. Philadelphia l'a.. far the election of Directors and euoh tther business as may nropeitr pome before the meeting- will be held at the nankin House. 22-24 Houth Third street. PhlF.d" thla, l'a.. on Wednesday. November 8, 1020, etwecn the hours of 12 and 2 n. m. 81 j, 8 OAYLCY Cashier. Dividends TUB TENTH NATIONAL HANK Philadelphia, Nov. 1st, 1020 Too Board of Directors have this day de clared a Semi-Annual Dividend of Three per cent (8) tree of tax. to stockholders of record November 1st, 1020, Checks will be mailed. HKIU1BRT L. BIIAPFKR. Cashier. I'ENNSYLVANIA HANK A TIIUHT CO. At a rcKUlsr tnnetlnir of the Hoard of Directors of the Pennsylvania Hunk and Trust Company held on October 27th. 1020, a semi-annual dividend nt 3 was declared .a m .tMLhnM.r. nt rMrA. Nnwnih.. nA GOSSIP OF THE STREET Ourlne tho Inst Ave years many of the traditions and accepted pet theories and precedents of the stock market world have been knocked to smithereens. But tho biggest puncture in the old way of doing business was the remark ablo indifference paid to tho presidential campaign this year. As a matter of fact, it is tho first timo since tho Civil War that there has not been Bomo sort of co-called pre election market. Until the last hour yesterday, when the shorts suddenly hna n scare because ot the raising of tho quoted odds on Harding, there had not been a single reflection ot tho posalblo results of tho battle of the ballots, al though Wall street at all times pro fessed a cocksureneBs Hint Senator Harding and the Republican party would score a sweeping victory. What the market will do tomorrow. or at least when reliable returns of the election arc obtained. Is altogether prob lematical. Home crltlcw are of tho opin ion that there will bo little effect cither way no matter who is tho successful candidate, Others believe if thoro shall be a bulge, many will take advantage to unload. I Altogether thcro seems to bo little confidence of any big market swing such las usually followed tho verdict at the polls iu all preceding presidential cam paigns. The stumbling block is tho money market. The ban against specu lative activities hsg not yet been lifted, and until it 1b there is little possibility of extensive speculation. I No Business Disorder "A review of financial and commer cial operations," soys the Franklin National Bank in its November issues pf DigCst of Trade Conditions, "falls to disclose any conditions of a serious nature, ond nlthough curtailment in bulng and reduction in prices are quite general, failures have shown onlv a small Increase. Tho Inevitable rMuHimt. raent is apparently coming about in a natural ond healthy manner. Although the total volume of business is lessenlug, commercial operations seem to bo on a ycry substantial basis, and tho letdown from the high points is being accom plished with the minimum of business disorder." Australian Peace Loan The Commonwealth of Australia is floating in Australia a Ro-callcd peace loan of 25,000.000 ($121,002,000 nt notmal exchange), which, if fully sub scribed, will increase the gross indebted ness of the Commonwealth to 400, 000.000 (51,075,000,000) of which WOO.OOO.OOO (.$1,7(50,000,000) or 72 ($330) per capita, is indebtedness due directly to Australia's participation in the European war. Interest 1h nt 0 ner cent, and tho issue price is par, but a bonus of interest, payable to those who anticipated the installments, the final of which is due .Tnnuary 21, 1021, will incrense the effective rate to a trifle over 0 per cent. Signs of a Hard Winter If thp popular demand for furs is to be construed as a "sign of a hard winter" that of 1020-21 will "break the record" so far ns relates to thn I United Stntos ; at least it will have a decidedly chilly cuoct upon father s pockctbook or bank account. The value of furs imported into tho United States In th calendar year 1020 will, according to an estimate by the National City Bank of New York, approxi mate $125,000,000 ns neatest $75,000.- 000 in 1011), $;t5.000,000 in 1018, $22, , 000,000 in the jear preceding the war, and nn nnnual average of a little over , $20,000,000 In tho decade prior to tho 1 war. This total of $125,000,000 worth I of fur skins imported, plus those pro I duced in the United States, will, when ready for use. probably represent nn ! proximately $,"00,000,000 cost to the I consuming public the wearers. This $125,000,000 worth of furs brought into continental United States In the calendar year 1020 represents. bays the bank's statement, tho skins of uuuiii iin.uuu.uuu uuiiuuia, j. ne areas represented are chiefly the Arctic, sub Arctic and temperate regions tho world around and on both sides of the equator, . but they arrived chiefly from London, the great fur market of the world ; Can- ' ada, our next-door neighbor and a large producer of furs: Australia, China, Japan and Asiatic Russia. Lon don fllone, the world's greatest fur mar ket, which draws its supplies from every grand division of the world, sends nearly one-fourth of our fur Imports $10,000,000 worth In the eight months nwling with August, while in tho same eight months period Canada sent us $11,000,000 worth; Australia, $10. 000.000: China. $0,000,000, and Jnnan and Asiatic Russia, a little more than $4,000,000 each. Western Money Conditions showed The money situation in the West no signs of any rasing the last weej. On the contrary, there were In aications f "" stiffening in interest Security Salesmen Here Is Your Big Opportunity To real security salesmen wo can otter nn underwriting that will be vt ry attractive In a financial way. Backed up by an extensive mall campaign the stock of a substantial Industrial Is now ready for live wire salesmen. Attractive leads aro ready for you now Write Immediately. C 524, Ledger Office Robert WLCoyIe&Co.WTMM 1 INSURANCE Bend for 80 Clouie Explanation. CASUALTY INSURANCE Accident Health Plate Glass Burglary Steam Boiler Flywheel and Engine Indemnity Insurance Company of North America PHILADELPHIA Capital, $1,000,000 Phone, Lombard 4330 Any Agent o Broker Can Give You Our Policy rales. Tho upward trend of call money rates in the eastern market was reflected to some cite tit in western sections of the country. Several Important factors enter into tho financial situation, the course of which have resulted in causing discount rates to be maintained which had conditions developed as anticipated a few months ago would have resulted in funds at the principal banking insti tutions being moro plentiful. Mercantile lines have felt tho loss of ready funds due to tho warm weather, whereby sales of seasonable merchan dise have been restricted. Further more, the period of readjustment in commercial and. industrial lines has been slow and liquidation of stocks on hand small in consideration of reduc tion in some commodities. In other words, price reductions havo not been sufficient in commodities in gencrnl to Induce an increased amount of pur chasing. THE TRADER. LIVESTOCK QUOTATIONS rlUsbunh. r., Nov. 2. JJOaS noclDts, lno hssdi 2Sa nlahar. at 200 nitner. ueavies 1. heavy yorkers and llsht yorkers and piss, H4.00O 14.7 HIlBEP AND LAMBS Itecelpts. 1800 had. Steady. Top sheep. 118: top Iambi, nun CALVES Receipt, SO head, $18. Steady, Top, iiniiniiimnnitnirnTtinM.nwiiiwmTirrmniniii YOU INSURE AGAINST FIRES WHY NOT AGAINST FAILURES? YOU would not think of going without insurance against fire for your factory or office. Yet, when a debtor fails, the dollar you lose that way, is just as much a loss, as the dollar you might lose by fire, when unprotected. Statistics show that losses from' bad debts for five years prior to the war were largely in excess of fire losses paid in the same period. When you carry "LONDON" Credit Insurance you always know exactly where you stand. You can't lose. Your excess losses are paid by us forty-five days after any insured account tails. That's not a collection agency hope It's a guaran tee In advance. And "LONDON" Credit Insurance costs less than you think. Wc can write a policy to exactly fit your case Ask us how. There's no obligation. OimSUPElV SERVICE Losses Paid In AmericanCurrency LONDON GUARANTEE AND ACCIDENT COMPANY LTD, R. A. IRVING, General Agent Phone Lombard 4016 PHILADELPHIA, PA. MOLaFiTetteBldg. iiiiiiiiiijiiiiiiiiniiniiiniiiiiiiniiniiiiiiiiniiiiiiiiiiiitiiiiiiiiiiiiinninniniiuniiuiiiiiiniiiuNiiiiiniiiiniiiiiiDiiiuiuiiiirjniiuiiiiiir I- Yields 794 1 for I Thirty Years I TAX REFUND IN PENNSYLVANIA g Wo will be glad to send to investors a circular I describing this First Mortgage Bond having an unusually g long term to run for so high a yield. I A yield of 7 from u tax refund bond is equal to 1 8.15 taxable yield. I Information Sent Upon Request West 3 1417 CHESTNUT STREFi I Slembem New York Stock Excluwge I Philadelphia Stock Exohanico I We Always Hare on Hand a List ot Hlfh Grade Bonds Correspondence InvKod triiniiiintiiiiiniiiiiiaiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiitiniiiiiiiiiianiiiiiiKiiniiiiiiiiiiiiniiiiiiiiiiiiHiiiiiiiiiiiitaiiiuiuiiiiHiiiiiiiiiinf CnABI.ES E. DBIGKUSY WILLIAM J. McQLINN Charles E. Brickley & Co. Members New York Stock Exchange 61 Broadway ------- New York Announce the opening of a PHILADELPHIA OFFICE ' at 300 Widener Building under tho management of MR. F. W. SNYDER Spruce 7S91 NEW YORK PHILADELPHIA BOSTON November 1, 19S0. Actomobile Liability Public Liability . General Liability Teams Liability Elevator NEW 'AUTO RECORD IN STATE Nearly $8,000,000 Received for Rea titration 80 Far Thla Year Harrison. Nov. 2.(By A. P.) The state of Pennsylvania has rocelved almost $3,800,000 more from registra tion of automobiles and other motor vehicles in the ten months of 1020 ending with October 31 than it did during the wholo of 1010. Thus far In 1020 the revenue from this source has reached tho record of $7,070,270.8(1 against $5,027,770.50 in tho same period last year and $4,038,000.00 in a flimi ilar period of 1018. The total revenue for 1010 was $5,000,021 and for 1018 $4,048,185.50. The registrations thus far havo gone to unprecedented totals, showing 520, 001 passenger cars for ten months of 1020 with 01,714 trucks and 24,480 motorcycles. In 1010 tho cars licensed numbered 440,441 and in 1018, 871,000. Provision has been made for 75,000 trucks to bo licensed for 1021 in addi tion to more than 000,000 passenger cars. ATYOUft SERVICE Established . Eighteen Sixty-nine - 'fM'"'?' " & Co. J. IXOHSELL nUTLEIt WABIIEN ACKJSRHAN Workmen's Compensation Employes' Liability Automobiles and Teams Property Damage Antomobile Collision FEWER DIE ON RAILWAYS Lowest Death Record Since 1898, According to Report , Washington, Nov. 2.(By A. P.). Fewer persons wero killed on railroads during 1010 than In any year since 1808 and fewer were Injured than in any year since 1010, said a statement is sued today by tho Interstate Commerce Commission. During 1010 a total of C078 persons were killed and 140,058 Injured, com pared with 0850 killed in 1808, and 110,607 injured In 1010. Of the killed arc thcSNecessttLCS' for fhedvancement A convenient method for recording your invest ment b furnished by our Loose-Leaf Security Record. A copy will be tent you without cost or obligation upon request for, Pook No.- PA-38. Capital $1,000,000 3ll-lwLAai1llll mmmm JBvWOi K ?OL I J t ,)j durlpg the year 278 wero passengers,' ami 01 tno injured 740U wcra pas sengers, Employes killed during 1010 numbered 2138 and 131,018 were in jured. John Mltohell Left $347,151 Now York, Nov. 2. John Mitchell, former president of tho United Mlno Workers of America and later head of the New York Industrial Commission, left on estate valued at $347,151, ac cording to the appraisal filed in tho Surrogato Court. Slnco his death, In September, 1010, the estate has in BONDS AND BUSINESS CAPITAL is the life blood of Industry. War and its aftermath higher costs, larger output and the necessity for expanded facilities, have resulted in largely increased capital demands on the part of business. Halsey, Stuart 6? Co., through the outright purchase ot the bond and note issues of essential industries, have suoplied this needed capital, and through distribution of the securities so purchased have provided investors with safe and remunerative opportunities for employing their surplus funds. Industrial bonds handled by Halsey, Stuart 6? Co. are the safeguarded obligations of established concerns, sup plying essential commodities, enjoying experienced management and having a record of satisfactory earnings over a period of years. Representative of the Industrial bonds and notes spon sored and offered by Halsey, Stuart fc? Co., are the following: Armour & Company 7& Convertible Gold Notes, 1930 Associated Simmons Hardware Companies 7 Secured Notes, 19x5 Continental Motors Corporation 7 Notes, 1915 Cuba Cane Sugar Corporation ycfa Convertible Defea tures, 1930 Utah-Idaho Sugar Company First Mortgage 7 Bond, 1921-1930 Morris it Company 7 Sinking Fund Gold Notes, 1930 Circular PA 37, descriptive of thete and a wide variety of other eafe inveitmenta, toiU bo sent upon request. HALSEY, STUART & CO. Incorporated Successors to N. W. Halsey jf Co., Chicago LAND TITLE BUILDING, PHILADELPHIA TELEPHONE, LOCUST 4820 CHICAGO NEW YORK BOSTON DETROIT ST. LOUIS MINNEAPOLIS MILWAUKEE A Profit is Not Without Honor Business exists on profit. When the profits grow out of proportion to the investment or when profits fail to appear, things happen. It is the privilege of the Continental-Equitable to co-operate in solving the question of profits with many Philadelphia business men. The actual business experience of our execu tives makes this service of cumulative value. We pay 35 on Savings Fund accounts Continental- Equitable Title aTiyjsT Company .Twelfth Above Chestnut Surplus $1,000,000 creased In vaiiSe because 6f adVanced values of coal mining stocks Included la It. Mrs. Mitchell receives a life Interest of $111,307.05, while the four Mitchell children each rccolvo $55,008.82. CHANDLEUGOMWXr franklin Bank Ekfe Pkll.4el,hi. Deposits Over $11,000,000 i I. X i ut $ uM ft ! I m '.VI .? n I um lumicu. JOHN IX. CABS. Treasurer. , Nv S rft ., : j "" M-',. " msa fjl4jutL.mlk.L,cjt Wrm: Ui3, kulr. will I. mnltitA- i Bsfissi. ssMai''M'iirTiTf1'"-- - 1fTTlnT- - -
Significant historical Pennsylvania newspapers