,': "; " 4 ?" J v4- h V if, .rr r 3 "" EVEimfG- PUBLIC ' liEDGHfiR-'PHIIiATELPHrA, MONDAY , DEOEMEjEB 5, 1921 J 28 $6,000,000 Seuth Perte Rice Sugar Company . (OF NEW JERSEY) . ' Twenty-Year Hrst Collateral Mortgage 7 Sinking Fund Geld Bends Te be dated December 1, V321 ' Te mature December 1, 1941 Te be authorized and outstanding $6,000,000 (closed issue) t Coupon bends in denominAtlensof $1,000 and $500, registerable as te principal only. Interest payable June 1 and December 1 without cVedtvctien for nermnl Federal Income Tax up te 1. Principal and interest payable at the office of Bankers Trust Company, New Yerk, Trustee 4 Nen-Callable until December 1, 1930 Redeemable at the fptien of the Company as a whole only (except by operation of the Sinking Fund) en thirty days published tieLce en December 1, 1930, or en any interest date thereafter, at 105 and accrued interest. BANKERS TRUST COMPANY, NEW YORK, TRUSTEE SINKINCFUND: The tcrm3 of the Sinking Fund are te provide funds for the retirement of the entire issueby maturity ns follews: x $250,000 principal nmeunt per annum each December 1 ) 1923 te 1926, inclusive j 300,000 principal amount per annum each December 1 ) 1927 te 1931, Inclusive; 350,000 principal amount per annum each December 1 1 1932 te 1941, Inclusive. FexMhc first eight years of the issue the Sinking Fund is te operate te retire bends up te 107 and accrued interest either by purchase in the open market or by tender; te the extent that funds arc net exhausted flireugh this operation they are te accumulate in the Sinking Fund. Beginning en December 1, 1930, and each year thereafter until December 1, 1940, inclusive, all nieneys in the Sinking Fund are te be used te retire bends cither through purchase of bends up te 105 and accrued interest or by call at 105 and accrued interest. A letter from F. A. Dillingham, Esq., President of the Company, is summarized as follews: BUSINESS Through its ownership of the Seuth Perte Rice Sugar Company, of Perte Rice and The Cen tral Romana, Incorporated, of Sante Dominge, the Company owns and operates two modern sugar fac tories, having an annual productive capacity of 125,000 tens of sugar. The Company, through its ownership of The Central Romana, Incorporated, also has valuable holdings of cane lands in Sante Dominge, aggregating 75,000 acres, of which 25,000 are new in cane cultivation. PURPOSE OF ISSUE The proceeds of this issue will be used te provide for the retirement of current indebtedness heretofore incurred for capital expenditures and te supply additional working capital. SECURITY This issue of bends will be the direct obligation of the Seuth Perte Rice Sugar Company of New Jersey and will be secured by assignment te the Trustee as collateral, as set forth in the Trust Agree ment, of first mortgages aggregating $6,000,000, constituting the only funded debt and covering the plants and real estate of its subsidiary companies in Perte Rice and Sante Dominge, and of all the out standing stock of said companies except Directors' qualifying shares. The value of the mortgaged property, after depreciation, is conservatively estimated as in excess of $15,000,000. As additional collateral a mortgage of $1,777,330.81, covering cane Ian in Perte Rice, with improvements thereon, of an actual and assessed value of upwards of $2,000,000, will also be assigned te the Trustee. The Trust Agreement will further provide a covenant restricting the payment of dividends en common stock, and will provide that any further shares of capital stock or any funded debt (excepting purchase money mortgages) issued hereafter of any of the subsidiary companies will be forthwith pledged with the Trustee. FINANCIAL During the period in which the Cerqpany has operated, there have been several years of extremely low prices for raw sugar but in no year since 1903, including the fiscal year just ended, has the Company failed te earn the interest en all of its eutstandi ng indebtedness and the dividends en its out standing preferred stock. Even in the fiscal year ended September 30, 1921, the Company's earnings applicable te interest, depreciation and Federal taxes were approximately $750,000. Frem September 30, 1903, te September 30, 1921, inclusive, the Company earned, before allowances for depreciation and Federal taxes, butafter all interest, $31,748,736.83, being at the average rate of approxi mately $1,750,000 per year, or ever four times the annual interest charge en this issue. Of these total earn ings, ever $16,900,000 has been retained in the business. The Company's balance sheet, as of September 30, 1921, after giving effect te this financing, shows net current assets in excess of the entire principal amount of this issue. It is worthy of note that prier te September 30 the Company had marketed practically its entire 1921 crop. Application will be made by the Company te list these Bends en she New Yerk Stock Exchange. We offer these bends when, as and if issued and received by us and subject te approval of counsel. It ia expected that Bankers Trust Company Interim Receipts will be ready (or delivery en or about December 13, 1921. Price 95 te yield ever 7.40 Bankers Trust Company Guaranty Company New Yerk of New Yerk-, The Equitable Trust Company of New Yerk Statements, while based upon the belt obtainable information, art net guarantees!. Railroad Equipments We offer, subject te sale and change in price N. Y. Central Railroad N. Y. Central Railroad N. Y. Central Railroad N. Y. Central Railroad N. Y. Central Railroad N. Y. Central Railroad .... Chic, St. Paul, Minn. & Omaha Missouri Pacific Railroad ... Nashville, Chattanooga & St. Leuis . Pacific Fruit Express Ce Pacific Fruit Express Ce. . . a . Pacific Fruit Express Ce. . . . Pacific Fruit Express Ce. . . . Southern Pacific Ce Southern Pacific Ce Chicago & Northwestern ..... Cincinnati, New Orleans & Texas Pac. Illinois Certtral Michigan Central New Yerlc Central Pittsburgh, McKeesport & Youghiegheny Issued under the Philadelphia Plan Rate Maturity Yield 7 Apr. 15, 1926 5.70 7 Apr. 15, 1928 5.70 7 Apr. 15, 1929 5.70 7 Apr. 15, 1931 5.70 7 Apr. 15, 1932 5.70 7 Apr. 15, 1934 5.70 7 Jan. 1,1926-30 5.75 6 Feb. 1,1930 5.75 6 Jan. 15, 1930-32 5.75 7 June 1,1926-30 5.75 7 June 1,1932 5.75 7 June 1,1933 5.75 7 June 1,1935 5.75 7 June 1,1932 5.75 7 . June 1,1935 5.75 6 ' Jan. 15, 1928-32 5.80 6 Jan. 15, 1928-35 5.80 6 Jan. 15, 1928-30 5.80 6 Jan. 15, 1928-29 5.80 6 Jan. 15, 1928-31 5.80 6 Jan. 15, 198-30 5.80 MONTGOMERY & CO. INCORPORATED 133 SOUTH FOURTH STREET , PHILADELPHIA FREE-'4 96-Page Boek en the Stock Markat Scientific Methods of Investing & Trading in Stocks includes meat interesting and valuable chapters en The Pu0c and the Security Mar Uets Hew te Visualize Investment and Market Condition! Recording Prlcea In Diagram or Chart Ferm Hew te Invest for Income When and Hew te Buy (or Profits Metheda of Averaging Hew te Use Stpp-erdsrs Scientifically This book sells for $1, but will be sent FREE te nny one inter stetl in trading and investing. Thi$ Qtttr it Geed Whilt Supply laid. Act Hew Cell or Write or Year Copy TODAY. A,k ler Boek 240 F. Smlten & fl.irbeflliinr.&r. 3d & Walnut Sit., Philadelphia, Pa. 509 Federal St., Camden, N. J. rastcit H'fre Service Serth of .V. r. tBerfcell IBrne. & de. lubtlr Utility tfrruritUa ftterk Exrljeynr BuUatng, Wl. We Want Offering! of Columbia and Menteur Elec. Ce. lit 5i, 1943, and 2d 5i, 1943 Vhencsl Locust OMO-1-2-3-4 l'r!nte Phenes te New Yerlt & llestun C. S. PATTON & CO. 3D CIIKHTM'T HTH. BANKERS NnereMers te . HAII.KK HTKVK.fcO llead. nnd xtetks bought nnd sold Member I'Mli. Wtefk Kifhinsr . i New Yerk Bends Canadl'n Nthnl fltta rcta 7... I iui 2.... 107U. Chile CepT 6s; 1 85 B 8&U 2 834. IS 8J Chinee Oeve't IMC Illy Sa 1 44 City Derna 8a 4.... 108 2. i.. 103 City Derd'x 0s 2 80". 6 80 2 SOU 1 80S 0 80S Cty chrls'a 8s 1.... 108 City of Copen- hacen BVia 1 8T B 87K D 87 City Lyens fli 1 Bfl4 10 80U 1 80. 10 80i 0 80 H 1 86 City Man's 0s " " 1 80' X 80 '4 uiy me ce J a nerle 6s (BALKS IN $1000) 101i 101H 1014 101i 10l 101 H 101 H 101H iem 101U 101H 101H 101H 1.... 113 1.... 118 U K Ort llrlt A I'd 1S22 2 09 '4 S 00 ',4 1 00 H V K Ort Brit A I'd 1020 0.. 1.. 8.. B.. S.. 4.. 7,. 1.. 17.. 31.. B.. 0. 10. 100. U K Ort 00 H 00 U 00 00 H D0. ou 00H 004 00 W 00U OOU 102W D0H 00 H 00 '4 Urlt A I'd 1937 B. 0. 14. n V. 1. 8.. 1. 3.. 04 V4 04 H 04 4 04 S 04 V, 04 '4 04 H 0414 04 '4 04 H 044 0414 04 V4 U U Brazil 8s 1.. 0.. 11.. 1.. 1.. ll" 4.. 4.. 1.. 2 1.. City Zurich 1..:. 107 10.... 108H Cuban A S 8s 1.... 104i Cuban C H cv 6 02H 3 03 1 01 3... . 02i C'n C H cv ct C BOH Cuba R Ce Ss 1 08 Denmark Cen ct A 8s 1.... 10814 1.... 107i Denmark Cen ct B 8a 1.... 10S 1.... lOfltt D Canada '20 B 00 3 00 1 oew D Canada '20 2 07 2 071 Oeve't Krencn 117 Ha rets E. 1.. 0.. 14.. 1.. 1.. 1.. 1.. 2.. 7. 104 ti 104 W 1044 104V, 10m 104 104 i 10 n; 103 Hi 10-1 V4 27 43H . 44 Flek nub'r Ce 8a rcta 0.... 100VJ Fert Werth A D City 1st IS.... 100 B.... 100 0.... 100 Oene'l Elee Os 1.... 1004 Ooedyear T A A Hub 31 2 0014 Ooedyear T A A Hub '41 1.... 110 C.... lOOtt 1.... 110 O Nthn Rd 7a 1.... 108 14 2.... 108V4 I.... 1084 2.... 10SU 1.... 1084 1.... 108VI 2.... 108tt Hud A Man In 0 40 III Central (d 3 83 Ilia Cen'l ft1" 2 OR 2 D7V4 Info Met 4V4" 4 10 Int M ct 4V4n 1..., 1... 10... 10..., Intb'e 4... 1... 10.. 88.. 1.. 1.. S.. 23.. 2ft.. 3.. 30.. 1.. 10.. 23 20 1 1 1 11 1(1 4 0 1 100 30 3 3 Ome't I' in 0.. 10.. 10.. 1.. 3.. 1.. 1.. 1. 16. 1. 1. 1. 8. 1. S. 1. 10. 3. 04 74 04 04S 04 04S 04S 74S. 04 04 04 04 04 04 04 Ti 04 04 04 04 04 04 '4 04 04 Oft 03 0B 03 It 8s 00 00 00 00 00 00 09 09 00 00 00 00 00 00 00 en 00 00 00 100 100 U S Mexico 4s 10 3D U S Mexico Be 0 B3 8 B2 B t2 B S3 Am n Agr'e A Chem 7V4 3.... 101 ASA Il'K Bs 2 87 3 87 Am T A T clt .. 87 V4 Aura TaT 5t 4 02 2 02 Aran T A T flu 10.... 108 1.... 108 1.... 108 1.... 107 1.... 10H A T A S Fe ej 1 78 A T A S Fe 4 V-... 83 1..... 80U 4...,. 83 Atch T A U 1 cv 4e 3 83 Atlanta A IUr mlngham 4i 1 03 0 7 T fd B3 B3 B3H B8 B3V4 B3H 63 H B3 Iiiihiiiiiiiiiiiiiiiiiiiiiih iiiiiiiiiiiiiiiiiMmHiiiiiiiiiiiiiiiiMiiiimuiiiuiiimiii iiiiiiiiiiiHiiiiiiiiiiiiimmiiiiiii 3. B. 8. B. 20. I M Marine 0s 1 03 Iowa Cent'l Sa 8 73 1 78 Kan C Ft B A Memp 4a 2 78 Kan C A S 3a 1 04 1 04 K C T Illy 4s 1 80V4 Kelly bprlnc'd Tire 8a ft.... 104 3.... 104 8.... 104 Lack Steel '2" 3 07V4 Lack Steel 'Si 2 83 V. Lake Shero M S 4a '2S 14 01 L & Myers 7s E.... 113 r.erlllard C 7s B..f. 113 Man K 4i nta 4 00 Mex Petr'm 8:1 1.... 101 Mid S A Or B 1 83V1 firand TrunK Can 0s rcta B.. 1.. 1.. 1.. 14.. B.. !.. :i. . 0 . 10. 00 100 100 100 100 100 100 100 100 00 1 A coast L en ,Mln & St L 4s 0 77 3 38 1 77V4 M A HtL en Bs A Coast L 4s 1 73 40 84 M KAT a) Wl A'laa Powder 30 43 v-e 78 0 43 3.... 101 3 48 1 104 1 42S4 Halt A Ohie cv 13 43 - 77 B 43 2 77 B(sale) 43 . "7 2 43 Bait A O 3 3 43 2 00 71 0 01 r. 43H Bait A Ohie 4' 2 43 - "7 1 43 13.4U A Ohie ft. 5 431, 1 80 Me K A T f Malt A Ohl II- fl 72U B 00 1 73 1 00 J 73 Bait A Ohie d M K A T 2i W'n 3s 0 47"j 1 87 U Dell Telephenu of Pa 7s 1.... 108 1.... 108 Bush HlJ'k! Br 1 84 I B... 72 C It N Ji- ftnlji K A T 4h wl Me Kan A T '.'ml ct 1 U 47 12 47 ! Mu K A T 4v B 72 a.... 104 Cerre de I'aa'u, Cep'r 8s I B.... 113 &.... 113 . 'Ill's A O 4 3 83 24 83 4 83 C A O cv 4 2 84 C A O cv :i IB 80 8 80 Chesa A Ohie Ceal It Iver 3 7B Chi A Alten 3 Mu B B2 2 S 03 3 03 2 03 Me K A T St 1 3 08 M KAT Bs wl 7 K A 10 02 HI HAT tit w: 1 C.il A Alt 3l 7 03 I 3 41 M KAT ext 0t 1 41 1 00 2 II Me TacKIc 4s ' 0 41 Chi II A CI neb ft 1)3 I 38 03 1 C 1! A U II 4s 1 R0 1 60 C U A Q ti'if . 107 . 107 . 107 . 107 . 107 . 107 . 107 I fta w .. 71 .. 71 .. 71 .. 71 .. 71 .. 71 .. 71 l W 1 .. 02 .. 02 03 1... 1... 8... 4... 1.., 1 l'.!! A I B... B7... 1.., 1... 10 .. 2. . . s'..', hl s. 1 1.... 1 Chi MU t 1'gl Sound 4h 3 08 2 (Ib '"htcaxe Mil t SIP 4s '2ft 10 77 1... . 77 7 77 1 77 Chicago Mil .1 SIP cv 4 7 0B 'hlrsKn Mil SIP fj 4t 1 00 1 00 1 00 1 . ... Oil Chleacii Mil St P cv Ss 1 .. hS f A Nwn 0 1. .. 108 C It I A P fd 1 ... 77 1 . 77 1 C IX I A P 4 2 . . 81 I C U Sta 4si 1... 88 c e. w 1 7ki 2 . . 101 l 2 . . . 102 " N T 4'ft 1.... ion Jap Oee't 1st 1 87 1 80 ! JaD Oeve't 2d 1 87 1 87 Jap Oeve't 4t 2 70 K Belgium 0s S 03 1 03 4 03 1 03 I 1 0ft K llelg'm 7s B 104 2 ... 104 1.... 104 IC llelg'm rets , 1.... 103 8.... 103 1.... 104 2.... 101 18.... 103 ingilem Uen mark ct 8 2 ... 108 1. .. 108 Italy OS 10 00 ugdnm .Sur vy ct 8 3 11)0 1. .. lu'j. . 2.. . 1II0" 1 4 . . . 10'J j K Sweden fls 1 1 0fi 1 IHI . 1 00 I Perte It T hs 12.... 102 OurensIM nxt I Lean ct 7s 1.... 10s, 1.... 107 1.... 107 .... 107 1.... 107 1.... 107 n Chile ct '20 2.... 100 ft 100 1.... 100 1 100 3.... 100 It Chile ct '41 0.... 102 2.... 10O 1.... 102 1 102 ... 102 '4 1.... 103 I '" I' "i' II Chlla '40 wll 2- . 87 . 8 lti2'f'M Cln Chi A 7 . . 102 "' I.uula lis I 1.... 102' 2 . OH 14 ' 3 1021 1 0 1 102."elunihla tl H Cuba Bs '04 r' I't sta 1 2 8ft 1... . 00 :i 8B ri A Hut m' 8 8B I 7... . 40, llepub nt Uru-jO'l A Hud 7" 1 ruay fee '.'.. ir.e 3, .. 103 Vn A II ! 4s II 103) 1 71 . 4 103 "W Kdl Ce rti- State of Sae 1.. 100 Paule ct 8s '-'rln (,i, t ui 01 01 01 01 01 01 01 01 01 2 t',1 3 01 I'uc A . '-' 00 New Or Tex . Mexico Bs 3 00 N Yk Cent'l Os 1. 1 . 0. . 1 . 1.. 1.. A . 1.. 3.. 2.. V V 00 00 ini 00 00 en 09 III)'. 00 00 ft HI Chi "Ult 4s 1 85 Chi . n'n J 4i. 0 83 New Y N II A II 4s 'OS 2. 41 Xaw Y N II v II 4s '30 4 42 1 42 New Y Kdl Ce 0a wl 1... 103 .Swlta'd Cen 8s 1 ... 112 1.... 113 1.... 113 2 ... 40 1 . . 4(1 iCrls It n cv O 3.... 43 I 4 43i 100 100 100 100 100 100 100 100 100 10(1 10014 100 100 100 TOO 100 100 2 lliu : Vie Telr '40 2.... 101 0 .. 101 Mil .... .... .... .i raanavUifit. r vi 11 c . nzzzjifi yr r3as iv. j m c Kmi'Av 77ie Best Christmas Remembrance te your relative or friend in Europe is a Cern Exchange draft en a bank in the city nearest the old home. n Let us send your money te foreign countries in either small or large amounts. Rates for this service are low at the Cern Exchange National Bank Chestnut St. at Second Philadelphia IIIIIIIIIIIMIIIMIUIIIIIIIIIIIIIIIIIUIIIIIUIIIIIIIIIIMIIIIIIMIIIMUllllllllllinilUIIIIUIIUIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIinilllllS 77 , 77 77 , 77 77 77 ' 71 1 77 I 77 77 1 T fls I 03 ; npM.u'iUfi.'nuLXi!n 1 108 1 . 103 1.... 103 30 1(18 11.... 103 ! 1 ... 103 I 10 J(ift, 4.... ins , a 103 I 3 1 03 23.. . 103 IS . . 103 IS. .. 103 ft 10.3 10.... 100 17 103 ft .. 103 B.... 103 1 103 N' Yk Hlya 4a t !M t Cl'd Cln Chl A'N Yk Tele '41 PN PN PN PN lunScipal Bends Exempt from all Government Income Taxes $1,000,000 Commonwealth of Pennsylvania 4s Due December ly 1951 v Optional 193G Price 106 te return 4.20 800,000 Allegheny County, Pa., Tunnel 4'2s Due serially from December 1. 1926 te 1949, inclusive Prices te return 4.25 500,000 City of Allcntewn, Pa., Scheel 5s Due October I. 1926. 1931. 1936, 1941. 1946 Optional 1941 Prices te return 4.30 203,000 City of Allentown, Pa., Improvement 5s Due October I. 1926. 1931. 1936, 1941. 1946, 1951 Prices te return 4.30 250,000 Blakely Twp., Lackawanna Ce., Pa., Peer District 5V2S Due August 1. 1926. 1931. 1936. 1941 Prices te return 4.90 125,000 Borough of Sugar Notch, Luzerne Ce., Pa., Imp. 5V2S Due December 1, 1923 te 1927. inclusive, and 1928 te 1951, inclusive Prices te return 5.00 27,000 Borough of Ferest Mills, Allegheny Ce., Pa., Scheel 5s Due April 1. 1926. 1931, 1936. 1941 Prices te return 69,000 Twp. of Ne. Bergen, Hudsen Ce., N. J., Imp. 6s Due May I, 1924. 1926. 1927. 1928 Prices te return 60,000 Ocean City N. J., Boardwalk and Coast Protection 6s Due September 1. 1922 te 1933, inclusive Prices te return 120,000 Belhaven, N. C, Water and Sewer 6s Due September 1, 1923 te 1946. inclusive, and 1947 te 1950, inclusive Prices te return 5.60 75,000 Seattle, Wash., Lt. and Pew. Geld 6s Due November 1, 1927 te 1941, inclusive Prices te return 5.00 5.25 5.20 5.40 5.25 5.75 5.65 J Legal In New Jersey P Legal in Pennsylvania N Legal in New Yerk 1 KVL SVa. FREEEVaAF & CO. I I 421 Chestnut Street Telephone tembed orie.o7ii.vTi: Philadelphia 1 . i ii- - "-"Msmiu 1 1 li 1 1 iii LMssj3Ps..Mni(TMan.lMMsMM Continued en Next X'age GEO. A. HUHN & SONS MOCKH AM) lUI.NUs Mrnibtr. uf the I'hll ulriiililn, New Yerk Hnd Clilr.ne Meck Ktrh.tngrs Nfiv Yerk I'pttnn I.xrhitnge Commission Orders Executed in All the Principal Markets Liberty Henda neught and uali tlcllpu Court Hide. 1418 Walnut M. . liniiTuniij, nil nif N. Amiiasander Ilettl Sold t'lljr, Chicago, St. Leuis & Pittsburgh 5s, 1932 MORLEY, WOOD & CO. 333 Chestnut Streot Mll..Mr. V. . ll.ll.t ci A. I, tf.tu ............. ... ., H . (.ik( tiiuvae aAi m . n T-J HEWBURQER, HENDERSON & LOEB Members New Yerk and Philadelphia Stock ExchangtM 1410 Chestnut St. irfnBh ''v si f '1 4 " ,i 1 l w i AH A 4 '5 t '1 I
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