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3EVENTN-G' PUBEICf EEDOTlt-PHrClBEEPHIA OMTOSDXT, gtfV3MBEK 25, 1920
jleft ifec.
The development and
financial condition of
this lnrge manufacturer
and retailer of candy Is
outlined in this week's
number of our Market
Review. There arc also
brief articles en mnny
ether stocks, Including
General Asphalt
Aetna Explosives
Allis-Chalmers
North Butte Mining
Columbia Gas & Electric
Bent en request for LS81
Hughes & Dier
( Phila. Stock KTtlmnrn
J I'lttshnrirh. Stock ntrhnnte
Members J Chlcnitn Heard of Trad
VNevc erk Produce Exchange
1435 Walnut Street
GOSSIP OF
THE STREET
Spruce 843
Nw Yerk
Philadelphia
Telephones
ritOhtirith
Ttnce 1893
Cleveland
Wille tha protracted liquidating
movement enTl the wlielcsnlc slaughter
of stock market values hns been any
tiling but n pleasant spcctnclc, yet alto alte
jretlier Wall street and its following
nare mucn te be thankful for today,
it mlglit have been worse. And even
the most caiitleus critics of the Fed
eral lleserve System nrc beginning te
realize what the system hni meant dur
ing the recent trying period. If the
story could be told of what has been
going en behind the scenes the last
twelve months It would furnish the plot
for the most exciting drama of high
finance that was ever staged. The
principal actors in this hair-standing
drnnm have never appeared before the
public eye, jet each and nil of them
were portraying epoch-making roles nnd
accomplishing what oftentimes seemed
te be the Impossible.
Jut new, when the rank nnd file
arc beginning te get nn lidding of the
real status of things in general, every
body Is disposed te plunge into the
deepest gloom nnd cannot see any but
the adverse side of the picture. It is
the time, te weep nnd wnil when the
Vigilance
Changing economic condi
tions make necessary a
regular survey of one's in
vestments. We are prepared te offer
suggestions regarding your
present holdings or pros
pective purchases.
Inquiries (nvltcd
Charles E. Brickley
1 iiffft I,
M Penna. Tax Free I
$50,000
EX T.ITTPfnr Pnimfir m I
B Gas & Electric 5s
i ME 1"1.. 1 r M e 1M
uiin I'lun mm 1
A first, closed mertieare. Prorerty
I value 60 in eices of this Issue I
I hlch Is dated 1008. m
Earnings ever twice chants. H
Free of Nermal Tax te 2 B
Price 78 I i
Te Net Over 6 1
BATTLES & COMPANY 1
Investment Banker 1
Establish rrl 1890
Independence Suture (East)
IMIIIII llMIII.ILl.JUiHBmMMH
... 71
i
i
I
i
I
!'
& Ce.
Members New Yerk Stock
Exchange
Widener Bldg. - Philadelphia
Telephone, Spruce 7391
61 Broadway 53 State Street
NEW YORK BOSTON
Direct Private Wires
THE
n
POUND
LING
STEP
Leeking Forward
We recommend the
purchase of certain
Sterling Securities for
Safe, Profitable
Investments
BROAD AND SANSOM STS.
PHILADELPHIA
65 BROADWAY, NEW YORK
19 SOUTH ST., BALTIMORE
S27 15TH ST., WASHINGTON
Analyses
of
Leading Rails
WS have prepared and have for dis
tribution analyses ctvlnj; the salient
features of the leading dividend and
nendlvldend paying railroad stocks,
with particular reference te earning
possibilities under the Increased frUcbt
and passenger rates.
A copy will be gladly
furnished en request.
Carstairs & Ce.
Members Philadelphia and
New Yerk Stock Exchanges
1419 Walnut Street, Phila. j
71 Broadway, N. Y. '
Important
Industries
Our current weekly
Market Letter describes
the recent activities and
industrial development
in a number of stock
issues, with important
data concerning
GENERAL MOTORS
U.S. FOOD PRODUCTS
Write or Telephone for a
Free Copy
cmith ncnniTH s. m
J1H.1.I, aUiVaAlla IX WU.
Members riilla. Stock Exchange
1524 Walnut St.
PHILADELPHIA
rhene: Spruce 6880 i
real conditions nre better understood,
but rnthcr the time for every one te put
tlielr shoulders te the wheel nnd tnkc
nn optimistic viewpoint of the outcome.
Things, It is true, leek michty blnck
Just nt the moment, 1ut it is also well
te bear in mind, in se far ns the security
markets nre concerned, that the rlctunl
happening of a condition is net waited
for, but is invariably discounted
months nlieml of Its realization. Tills
I mic particular point should net for n
I moment be overlooked just nt this
'juncture, when nil the professional
trading forces et Wall street seem ncnt
upon completely destroying security
values.
Almest a year nge the market began
te feci the effects of the corrective meas
ures te relieve the evcrstrnined credit
situation. Fer nearly n whole yenr
there hns been almost nn uninterrupted
declining movement. Net only were
the ndvnnees made In the big bull mar
ket In the summer of 1010 wiped out, but
in the extreme swing of the market
pendulum mnny of the industrial issues
sold nt the lowest prices touched in
several years. In ether words, the
wnr's Inflation in security vnlues has
been thoroughly deflated und the fancy
figures once touched by many of these
Issues arc new simply a thing of picas -nnt
memory. In brief, AVnll street hns
succeeded In getting Its house In erdct
nnd Jr. nccerdlng te the views of recog
nized Judges, in a stronger position thnn
It has occupied at any time ia the last
deendc.
Industrial, commercial nnd gcnern
business house clenning may biing about
some unhappy situations. Such nn out
come Is hardly unavoidable In view et
the abnormally high speed nt which gen
eral business hns been running the last
five years. Measured, however, from the
rule Htick et mnrket vnlues. It Is nlmest
positively certain thnt much of the un
satisfactory side has been discounted.
Everything nhcad points te better
things, rather than the adverse side. It
hns been n trying year, but nil hands
managed te pass through the ordeal
without much damage nnd therefore nil
concerned or Interested have many rea
sons te be thankful thnt reckoning wns
'. net mere unDlcnsnnt.
Philadelphia Conservatism
In discussing the centrnsting policies
of the New Yerk nnd Philadelphia In
stitutions, nn official of one of the larg
est lecnl institutions said yesterday that
some of the New Yorkers cannot under
stand the conservatism and straight -lace
policy of the Quaker City bankers.
"The mntter was nt first brought te
my attention severnl years age," he
snld. "while holding the chnlrmnnshlp
of the finance committee of the beard
of directors of a "remlnent industrial
corporation. One of the large individual
interests called upon me and suggested
the removal of the executive of the cor cer cor
perntion. becnusc, ns he put it, the of
ficer hnd outgrown his usefulness. He
'suggested thnt I should take the duties
let the office and take the salary with it.
"Upen refusing te accede te his de
mands he wnnted te knew wlint remun
eration I was receiving ns chnirmnn of
the finance committee. My reply that I
i was filling the office without return
1 completely dumfounded him, nnd he
could net comprehend why I should hnve
'devoted se much of mv time without
some compensation. Upen informing
him that I wns merely n representative
of large interests with which I wns
'closely affiliated, he replied that he
I thought I was the biggest feel he ever
met. In New Yerk, he told me, men
filling n similar job would demand big
pay.
I "About n year age the same cendi
tien enme before me ngnln," he con
tinued. This time n prominent New
Yerk Interest In negotiating te place a
big mortgage generously offered te split
commission. He could net understand
why I should net accept the offer, ns
he stated it was entirely legitimate, In
thnt the mortgage desired wns only one
third of the nsscsscd vnlue of the prop
erty. When told thnt if lie wnnted te
place the mortgage in this .city he must
first climlnnte the fifty fifty commission
bonus, he said: 'Yeu I'h'llndclphlnns
are even slower thnn I thought you
were.' "
World Ceal Hungry
In the November Issue of The 01
rnrd liettcr, Issued by the Oirnrd
Trust Ce., there is an unusually Inter
esting nnd cn'ightenlng article en"
"coal." The subject is especially apro
pos when two years after the great
world wnr finds the humnn rncc hun
gering pcrhnps even mere for cenl than
brend. The article covers the cenl In
dustry from almost every nngle nnd is
well worthy rending. In addition, the
edition gives n plenslng review of the
J. (J. llrlll plnnt, nnd nise another sec
tien of the history of the Glrnrd Trust
Ce.
The steel Industry in the past week
has net been materially nftectcd by the
steel corperntlon's announcement that
prices would net be" ndvauced unless
"altered conditions" made the step
necessary, nccerdlng te the Iren Age.
"It hns been understood," writes thnt
journal, "thnt the corporation seri
ously considered advancing rail prices,
nnd the fnct that It made large con
tracts for 1021 Inte whlcb the price was
te be wrltten later pointed te n higher
level thnn S17, which It hns maintained
since March, 1010."
It Is observed thnt further cancella
tions nnd suspensions hnve come en
finished steel centrncls, some of It being
low-priced material. The steel corpor
ation's operating cnpaclty has run up
te 8e per cent In the Pittsburgh nnd
Chicago districts nnd 80 per cent nt
some ether mills. Seme of the smnllcr
independent mills hnve clesqd down, but
Independent eempnnlcs ns a whole arc
operating nt CO te 70 per cent. It Is
stntcd thnt current expert trnde in iron
nnd steel is nbeut a third what it was
three months age. THE TRADER.
Jiurncintrii iiiiitiHunu tni tjiMMtitiiibCJUiiiiiuiiicai tuiuMMiciiLUiMULiitiiutniinMCSiiiiiiunMC uniuitLiixuJUJiiuiiiEuiixjtiiiiicsis
A Coupon Every Menth
We recommend nnd suggest six different bends cost
ing, at present quotations, approximately ?B222.20. The
scmi-nnnunl coupons from these bends arc due each
month and give the investor an income of $370 per year.
These six $1000 bends combine diversity and safety
with favorable possibilities for rising prices.
Send for Special Circular
West & Ce,
1417 Chestnut Street
Philadelphia
B2 Broadway
New Yerk
Meralws
New Yerk Sleck KxclinnEe
l'bllailrlphln Stock Kichanire.
We Alwsj-r Have en Hnnd n Lttt nf Hltli-OrnJe Heed's
Correspondence Invited
iitiiiniiiiiiiiniiiiiiiiiiiitiiiiiniiiiiitiniiiiHHiitiiiiiiii'iiiitiniiiiniiiitiiiiiiiiiiiiitiiiiHiiiiiiitiiiiniiiiiiitninniiiiiitiiiiiiHiiiiitiinnii?
JMH
Geerge K.Watsen & Ce.
Certified Public Accountants
Federal Tax Consultants
Real Estate Trust BIdg.
Philadelphia
-
f h!L Paper Boxe
fyAl& and Mailing Tubes
EDWIN J. SCHOETTLE CO.
533 N. 11th St Philadelphia
1812
THE
1920
Pennsylvania Company
for Insurances en Lives and Granting Annuities
TRUST AND SAFE DEPOSIT COMPANY
Capital and Surplus - $7,000,000
Member Federal Reserve System
iineAn STitKF.T erFicn,
Chestnut unit Juniper Streets
517 Chestnut Street
Philadelphia
JlllllllllllllllllllllllllllllllllllMIIIIIIMI!MIIIIIIIIIIIIIIIIIIIIII'll''l'llll''llllll'll''l'IIIIIIIIIIMIIIIIIIIii
Gray Iren Castings
American Dredging Ce
RIVER AND HARBOR
IMPROVEMENTS
30S Chestnut Strasl
Philadelphia
ffx
vi I la
tev I N
aK mmm ydy
Machine Melding Our Specialty.
Limited capacity for prompt
delivery.
Fleet of Moter Trucks make daily
deliveries te Philadelphia
and vicinity.
Call, write or phone I.nnsdale 450
Lansdale Foundry Ce., Lansdale, Pa.
Te Business Men
. and Women
After an exhaustive study by the Officers of
the Cern Exchange of all our borrowing accounts,
taking each individual account, studying the con
ditions of the trade in that particular line, the
amount of merchandise en hand, ether assets and
the debtsr, we find at this time among the
thousands of our customers that there is only one
account where weare apt te make a less, and but
two ethers that are extended beyond the safety
point.
With all the shrinkage in the price of
merchandise, in some cases as high as 75, we
ourselves were surprised te find such a strong
condition
It proved te us that the situation is net as
serious as some of our friends have claimed, and,
with the exception of a few weak spots, American
business is in a strong position. Lesses, large as
they are, have already been offset by profits previ
ously made. There is no excuse for the grossly
exaggerated statements current en the street, and
it is time for business men te plan for the future
and forget the widespread propaganda against
American business.
H
z&J
aJ&tXttJZZ
&UjuJ
I CORN EXCHANGE NATIONAL BANK I
1 Philadelphia
Chestnut, at Second
flllllMIIIIIIIIIMIIIIMIIIIMMIMMIIIIIllUIIIIIIIIIIIIIMIlllllllllllllllMllllllllllinillllllMIIMIIIIIIIIIIIIIIIIIIIIIIIIIIMIIMIIIIIIlflllllf
Savings
Fund
Interest 3.65
Fidelity Trust Company
Philadelphia
CspitsI $5.200,000 Surplm $16.000,000
Centrifugal Pumps
Fer All Purposes
MORRIS MACHINE WORKS
REAL ESTATE TUCST ULDO.
Dell Telephone Walnut 2038
moTei'i.ws
I'llOTIM'I.WH
MMIiliM.MJiiMilM
Anglo-Seuth American'
DJN UNLIMITED
yew Yerk Agency, 40 Ilreadtrny
28 Drunrlirs In .Seuth America
One llrnnch In Mexico
8 Olllces In Europe
FLORIDA
Dy Sea
Blesmer every Tuesday 3 P. M. MU
s.nd limited number berths Included.
Ment economical way te travel.
Make rerervatlen early.
Merchants & Miners Trans. Company
Entnhlliihed IBM
Millien, of pnsurncers carried net a life lt.
llrr 1 S. Del. Ave. Tel. Iwmhrd 1BOI
East St. Leuis &
Suburban Ce.
Convertible 7s, 1921
Chattanooga Railway &
Light Ce.
1st Sc Refunding 5s, 1966
IIAMIEHS
321 Chestnut St., Philadelphia
lltmbtr New Yerk nnd I'hiladtliihia
Bleck Eichanait
Penna. Wat. & Power Ce.
Stock and Bends
Further information upon request
JosepKW.Gress aCe.
1421 Chestnut St.
Corrpe n dt.i
Aldred & Company
Lawrence E. Brown & Ce.
CERTIFIED PUBLIC ACCOUNTANTS
10SO HKAI KHTATK TKI'BT m.Dn,
liiteatlsute und adjutt partnership und
MtriHirallin areeunta. Alan prepare U. B,
Income Tax Batumi.
A Free Boek
Fer. Men Who
Wish te Knew
The General Rules of
Trading.
Hew te Give a Breker
Instructions.
II r e k e r s' Commission
Charges.
Hew te Indorse a Stock
Certificate.
Hew te Use Collateral
in Trading.
Hew te Greup Invest
ments. The Deposit Require
ments for Carrying
Stocks en Account.
The Rights of Stock and
Bend Helders, etc.
Call.phoneerwriteatonce.
Ask for Ne. T. U.-303
JONES & BAKER
Specialists in New Yerk
Curb Market Securities
Widener Bldjr.. Phila.
Phenes: Bell, Locust 4730
Keystone, Race 2290
Offices in 8 Principal Cities
Direct Private Wires
CORRUGATED
Walnut
smrnvn
BOXES
Hare
1S7B
At lets money than you are Darin.
Geed Deliveries,
Corrugated Container Cerp.
AI.IIKKT A. I.inilT. Drnrkln Illdr.
THESE THEATRES EXHIBIT THE FINEST
PHOTOPLAY PRODUCTIONS IN PHILADELPHIA
See the Best Movies in Your Neighborhood Theatre
IS
I h N1XON-N1RDLINGER
THEATRES
ACMI W 25tn ani Allegheny
AVE.1NU11, MATINEK DAIIA'
AI.5IA RCIir.Ns In
"The World and His Wife"
BELMONT C2D AD0VE MARKET
I.l'.KOY SCOTT'S
"Partners of the Night"
CFDAR U0TU AND CEDAU AVENUE
IttJir.r. CLAYTON In
"THE CITY SPARROW"
MAIIKUT llirrWEEN
.VlTII ANT) tiOTU
Tint r.l.A M.iel.rAV 111
"THE JAILBIRD"
COLISEUM
REDUCED PRICES
all mnLee et
ADDING
MACHINES
Mr i" it
wpp
The Ilasnett
Addlnr Marhlne
Onl llin
Cellins Office Machinery Ce.
Sat Cheatnut H.
I.ariest aiaertmenti all full' ziitranteed.
n minn thent st . uiiuiid avb
JUIYIDU jumbo Junction en I'rankferd "W
AI.M.V KLIir.NS In
"The World and His Wife"
IT l-:l 1 1. .Market 440
i ay oi.uit-K.cruui;ri.i:rNeontoio:30t
mii.i.i.im hi r.i.i.i. in
"Tin; iiiiin itinnit"
rnwr.nv m:vi mx acts vacukviixk
FAIRMOUNT 'sSat?n WaA?
.IACK IIOI.T 111
"THE BEST OF LUCK"
FRANKFORD 4715 A,;J!AlrF0IlD
KTIII'.I. CLAYTON In
"THE CITY SPARROW"
FIDELITY TRUST COMPANY
3.6S Interest en
SAVINGS FUND ACCOUNTS
Office i
325 CHESTNUT ST.
1431 CHESTNUT ST. G324 WOODLAND AVE.
Capital, $5,200,000 Surplus, $16,000,000
Germantown Br,Vu?iT dVy
hi. m; dmi:i.s in
"YOU NEVER CAN TELL"
CRANIO 02D AND "'"WET
UIXrtlNU Noen ie MldnlBht
"A ciiit.n von sw.r."
SYMPHONY Oli('lli:sTKI. til'UlTKT
nnd IIMIY Hl'TII IN rnitseN
1MPFRIAI 2Nn teplau
nvii E.ru-l m-atini:b daily
wh.i.mm in ssi:i.r, in
"THE MAN WHO DARED"
i cAnrn st Lancaster ave.
LLAUHlN MATlNPin DAILY
!I.A.ri!i: MtKI'r In
"The Unwilling Husband"
JEFFERSON A&iZ?
ai.ici: nitAiiY in "rtw'1
"THE DARK LANTERN"
I IP! 1CT B2D AND LOCl'ST STHERTS
LULUeImhih i te. a .in nm e aoteii
I.OCIS sTONI! Ill
"HELD BY THE ENEMY"
NIXON MD ANU MAH,f ;r3.S7TSand
reMi:iY rnTi'Hi:
"An Elephant's Nightmare"
D!m I "f AND SANSON! STS.
KIVULl Jlutlnee Dally
MM: MfKKW In
"A MORMON MAID"
iere
COVEBINO THE eNTIRE HELD OT
MtCHANICAL EOUIPMCNT POR
BUILDINGS POWER-STEAM t.
ELECTRIC HEATINO PLUMBING
WATER SUPPLY SYSTEMS
LIOHTINO VENTILATING
GENERAL PIPING WORK
ETC
"The Heart of the
Heating Plant" is geed
heat regulator. The
price of the best one
made is $67.50 and up,
installed. We can fur
nish one at once. Ring
us en the phone today.
TD AMn obumantewn AVE
iSlKAiNL' Al VIINANQO UT.
' KI.I.IOTT ninCTKU In
I "Something te Think About"
I leTHD FIIANKLIN- K OIIIAHD AVE.
AS 1 UK MATINIJi: DAILY
IT.Mtl. Minn: In . ..
"THE WHITE MOLL"
a i ir?rr? A 2'3- oihimantewnavl,
AUKUKA mxii.nii: DAILY
1 censtanci: IIINNBY In
I "39 EAST"
BALTIMORE 6lZl'tiLSTJlf.
It , n, il.alt
"The Cradle of Courage"
Tnrr.T and
NA AVE.
BLUEBIRD "ftS
"LADY ROSE'S DAUGHTER'
r ADM AM cniiMANTOWN avi:.
"HALF A CHANCE"
I.II.T.IAN niCII i. ai.llt.ON HAMILTON In
M tmf ml trlA Aua. nnit (Ith flt
CLIN I UK T matinkk sat
1KIIIAHT HOHWOHTII in
"BELOW THE SURFACE"
IRFRTY urtAD A COI.IMHIA AV.
j uir hum 111. All 11 CKI.l; h,
"THE ROUND-UP"
MODEI ,23 S"L"1' ST Orche.tra.
lVtVLlI, C'entinunii. 1 ir. 1,
fiiceitnr. wai.sii i "
"THE PLUNGER"
NEW FORREST wa "d
Tlir.I HAIt In "
"SAI.IMII;"
"VNISHING I).,(ir.K" NO. IB COMKHY
OVERBROOK'i-vVy."
CIIAHI.ICH RAY In aay
"A VILLAGE SLEUTH"
l.ilaUWI l.
V1"
INTERNATIONAL
VORPORATION
V REGULAR SAILINGS
PHILADELPHIA te RIVER PLATE PORTS
S. ,S. Cetntl . Nev. 30
PHILADELPHIA te RIO JANEIRO & SANTOS
H. b. Cetutl ... Ne. 30
Refrlcerater
PHILADELPHIA te FRENCH ATLANTIC PORTS
, ciiHir -net. au . Xedmn? Dec. 1Q
t'. y, -ij v ""'"I urn ou
ifayotte Building, PhiUdelphU 170 Broadway. New Yerk
Mala 8115 Lembard 3033 Cortland 3383
Wi:ilSTi:il II1.IIU., CHICAGO, HAIiniMIN UI3U
Manufacturers and
Jobbers
We tVIlI Discount Your nilli and Trail
Acceptances
Guarantee Finance Trust
SM Chestnut St.
STOCK SALESMEN
We want rnerleiired i.teek aaleiimen
Ie Mil the Merlc of a thrlrlnc Indue
trial, A real ennflrtiinlty for real men,
A BIO. LEDRKIl OFTICK
FINANCIAL
KAHLKiait - IIHOOKWOOn COAIi
COMPANY riKST MOHTOAOK S
l'HB CENT S1NKINO KUND OOLD
IIONDS, DUE 1028.
Pursuant te terma of mortrave dated Julr
1. 1011, the underlined Invites tenders et
abme bends (or sale und delivery as et
January 1, 1021. at a prlce net exceeding
aniin
02',i
PARkT "'ear. avi: & daltiiin st
centn i: iiinni;y in
"39 EAST"
POFI AR UTU ANO rei-LAit
1 v-l ""' I'nn'lnuiiua 1 te 11
DOUOMIY HAL'IO.N In '
"HALF AN HOUR"
SHERWOOD " 'Mm-
MAHY 2III.1M MINU.lt j,, " UJU
"A Cumberland Remance"
SPRUCE
OUTII AND SI'IU'CC
MATINIID DAir.v
IHTK JON'i:s lii
"SUNSET SPRAGUE"
Susquehanna 17th Rnd Bu'iuehanna
MAT. DAILY
TOM MIV In
"THE TERROR"
Special Musical Selections nnd
additional attractions offered at the
uiettneu uuvciviacu in, tne ,ledger,
JOHN L.MERRILL, Pres.
lleutc jeiir messnges "Via
All America," which words
are tianamittcil fret! by ail
teleijaih cempanlca.
URUGUAY
The last available figures
(1013) show that Uruguay
wires in an area of but
hae 5344 miles of telegraph
72,172 square miles.
ALL AMERICA CABLES
enables American manufac
turers nnd exporters te keep
in close and necurnte touch
with their rapidly expand
ing Urugunyinn tsnde.
Hecker & Ge.
Bankers and Brokers
Member of Hillnileluliln nnd New Yerk
HIiH-k Kirliunir
N. K. COIL 0TII AND CIIKSTNUT 8T8.
LEE, 1ILGG1NS0N & CO.
Kalnlillslird 1843
1800 Finance HiilldliiK. l'lilladrlnlila
1IOSTON NEWYOttK CHIUAOO
MEXICO
With Improving internal con cen con
ditien Mexican Government 10
Year Treasury G Hends of
1913 offer a most attractive op.
pertunity for large speculative
profits.
Information en Application
Charles Fearer & Ce.
333 Chestnut Street
102',i iier cent and Interest, te the eitimt el
J3n.07n.lH. the aum new available In tbs
Slnklns Pund.
Sealed tenders, atnllnr numbers of bends
nfTered, addressed te OirtAnD TIIU8T COM.
PANY. Trustee, Hlnklnc Fund, Harlelsh.
nroekwnod Ceal Ce. 1st Mtie. fl Per Cent
Hende, will l received until 3 p. m., De
cember 10, 11)20.
(lIUAItD TltUHT CflSirANY, Truste
OEOnOE II. STUAHT 3d, Treasurer.
Philadelphia, Ta,. November S4. 1020.
POCAHONTAS CONSOLIDATED COLLIERIES
COMPANY, INCORPORATED
rirtr-Vcnr Five rer Cent. Geld Dendj,
Dus Julr 1, 1057
.Netice Is liersby wlven. pursuant te lbs
terms of the MortKage dated July 1st, lvOi,
that the undersigned. a Trustee, will re
reive sealed proposals up te 8.00 p. m e
the 8th day of December. 1920. for the s!
Ie It of bends as above described, sulilcltnt
te use the sum et 148.018.77, The unotr unetr
lined reservra th rlcbt te ruiect auy or all
iiiK new renic, TrtusT cempani.
Trustee Dy n. O. CUHTia. Becrstarr.
New Vnrk October 81. 1020 .
I, L.1.NVAHTKK VATKIl F1I.TBATION CO.
Hereby liUm notice that, In accordance vlin
the terms of the mortKuue or deed of trust,
the follewlns bends have been called '
paymmt dnd cancellation upon January iq.
1U21 tu wit: Nes 8(1. 40, 41, 44. 02. ei.Vl,
71,
140.
n,q in njn (in em
upon proper presentation of the lame at
the eritce of the below named trustee the lull
principal sum thereof, toKether with Intereit
ihoreen te January 1st. 1051, will be pal.
Interest thereon will coase January 1st. Wti.
whether bends are presented as requested or
"wERT END TTtURT COMTANT. Trust's
nread St. Seuth Penn Bnuare. Phila.. ?s.
1(10. 117 121, 152. 153. ISO, 13S, IS?.
. 14.1, 107. 108, 207. 210, 214, 218, 554,
Annual Meetings
iNsriiANrn r or neiith amkiiica
Third nnd Wnlnut Sta Phlladrlpbla, . '
The Annual Meetlntr of the Stockholders
win no ntiu ui me jiuma uuice ei me w"'l ,l
piny, en Tuesday, Jnnuury 11. lOil, at u j
M.. fur the election et Directors and tn.
ceme before the meeting-.
JOHN KHEMKH. Secretary.
Dividend
The PhlUdelphin Electric Cempanf
1000 CHESTNUT BTnEET
Philadelphia. Pa., Nev. 12, 1020.
The Ileurd of Directors have this day if
rlarcd n quartvrly dividend of one and tarrf
qiinrtrrs (IV.) per cent (being 48.75 rents s
sluirr) upon the common capital stock of tiuj
Company, payable Drrcmbr 18. IO0'. "
tuckheldera ut record November 10, 120.
II. C. I.UCAB. Treas.
MITAMKMH HOSIliHV COJIPANV
Venango It I Htreta. I'hlladelphU
DIVIIHWD NO. S . .,.
nevtniMr se", "
The
Hosiery
lieard of Director of the Nels'1"
'of 2 en the Klrat Prt-ferred Bleck, Pfl,1!! 'I
Ilrcrmbrr l, 10J0, te stockholders of ree ,1
November 23rd, 1020. J .'I
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