iwm&mmHrMA.rmm&t- IfeORGANlZATiONj of JV? ".' :'. ." Vrrtft. " , i-' 1 ' ""J&HJSTRIALSB LAlt It bit mr Arm rMsl ............ .vl r j Amer Leather ...... .871 Aetna racking " American Wrltlns Facer 4 Ilradley Firecroef 78 Lew SO jk 7 10 24 nrlt Amer .fob coup coup ijj? - $6,567,600 Chesapeake & Ohie Railway Company - Equipment 6 Geld Notes Scries 13 and Series 13 A ' Dated January 16, 1920 due $431,000 Series 13, $74,200 Series 1.3 A each. January IB, 1923 te 1935 Series 13 Series 13 A Total ' . Authorized and. issued . . . $9,697,500 $1,669,500 $11,367,000 Matured and retired 1 ,293,000 222,600 1 ,5 1 5;600 Held by Director General of Railroads and te be " i. stamped as subordinate te remaining Notes. . . 2,801,500 482,300 3,283,800 Unstamped balance new offered $5,603,000 $964,600 $6,567,600 Interest payable January IS and July IS. Principal arid Interest payable In New Yerk City. Coupon notes in denominations of $1,000 registcrablc as te principal only. Redeemable as whole, but net in part en any interest date "en 60 days' notice at 103 and accrued interest jii Guaranty Trust Company of New Yerk, Trustee. These. Notes arc. issued under Equipment Trust Agreements between the Director General of Railroads, Chesapeake & Ohie Railway Company and the Trustee. Through supple mental agreements, 33 1-3 of the Notes of each maturity, held by the Director General, arc te be stamped as subordinate in lien te the Notes new offered. Upen this subordina tion the Unstamped Notes arc te be outstanding te the extent of but 58 of the original cost of the equipment en which they arc secured. The two series of unstamped Notes are secured, respectively, by a prier lien en the follow ing standard railroad equipment: ' Series 13 20 Light .Mallet Locomotives 5 Heavy Mountain Locomotives l5Light Mallet Locomotives 1000 50-ten Single Sheathed Bex Cars 2000 55-ten Hepper Bettem Steel Ceal Cars Series 13 A ' '.Maturity . '.January, 15, 1923 . . . " ie iaeA 15. 1925 15. 1926 45. 1927 15. 1928 15. 1929 it it- it. 10 Light Switching, Locomotives-. . PRICES Appre. ' . Appre: Yield Maturity Price Yield 5.50 January 15, 1930 101.59 5.75 5-60 15,1931 101.74 5.75 " 15,1932 101.88 5.75 2 75 " 15, 1933 102.02 5.75 575 " 15,1934 102.15 5.75 5.75 " 15,1935 102.27 5.75 . Price 100.47 100.75 100.95 101.06 101.07 101.25 101.42 Accrued interest te be added in each case These Notes are offered for sale when, as and if received by us and. when prier lien hate been established as S tanned. It is expected that Trust Receipts, exchangeable for definitjvc Notes when received by us, will be elivered upon payment en or about February 10, 1922. Guaranty Company of New Yerk The Union Trust Company of Pittsburgh Petter & Company We de net guarantee the statements and figures contained herein, but they are taken from sources which we we believe reliable. The Pennsylvania Railroad Equipment Trust 6 Geld Certificates Issued under the Philadelphia Plan Due January 15, 1924 We own and offer the above Equip ment Trust Certificates, subject te prier sale or change in price, at 100 and interest, te yield 5.53 The National City Company National City Bank Building, New Yerk Philadelphia 1417 Chestnut Street Telephone 5400 Locust Ofjieia in mere than SO Cities it the United Statu and Canada I I IM I BROWN BROTHERS & CO. NewTerti Eitabliehed Ittt rOCBTlI & CIIE8TNET BTBKET8 Hosten MEMBERS OF STOCK EXCHANGES PHILADELPHIA, NEW YORK and BOSTON Order Carefully Executed A Century of Service BROWN, SHIPLEY & COMPANY Vsaaa'tra Cwirt. Lettiuury Mwuuni x v. nfllrr for Traveler 113 fall Mall, LONDON, 8. W. 150,000 Pennsylvania R. R. Equip. 6s Dm Jan. IS, 1828-34 frit., te Yi.ld 5.75 Circular en Kequett Tewruend Whelen & Ce. i.K .B08 ChMlnut St. irr r. y, 4 rMa sietk Exchange We Want Offerings Commercial Trust Ce. Stock Philada. Nat. Bank Stock BARNES & LOFLAND 147 8. 4TII HT I'lULA., TA. Tel. Lembard till fmrnmrnammmmmmmmmam STUDEBAKER MIDDLE STATES KENNECOTT TOB. PROD. SINCLAIR PENN. R. R. A. I. C. The Currant letue or our FINANCIAL INDICATOR contain! an interetting die die euetien of the market potenti petenti ative of thete and ether lilted aecuritie. Bend for "L-ti" CULVER & COMPANY STOCKS AND HONDS Members Philadelphia Stock Exchange Consolidated Stock Exchange e New Yerk CulTrr llulldlnir, iset Walnut HI.. NI1L.IDUM'IIIA Hleubrnvlll. O. Ituca 70011 THERE IS only one sure way te make certain of security for the years te come. Save regularly and have the satisfaction and free dom from anxiety which comes from having money in the Bank and from being out of the "hand - te - mouth" class. Start with a small amount and plant the seed of a larger harvest by opening a Savings Ac count with NORTHERN TRUST COMPANY Fer your convenience we keep open Mondays until 7 o'clock, and you may withdraw up te $100 WITHOUT NOTICE unicarn niddis Pl.v.lamt Aitfn n w ariirtu . ntiraht at Indiana ...... 11 Durnnt Moter 24 Geerge. Clethe D ....... 10 cilen Aldan Ceal ......... Goodyear Tire 1U fleldwrn Pleturea ....... BVs leyden Chem ... 1 ., IIu7lten Ce pref .,..... OH Imperial Tobacco ....... 11 . Inland (Iteel M'A Cpmb Enr 23 Vt Inter Comb Envr ........ V8H Inter Ilubtwr JH I.lbby.McNclll rH Ltncelyn Metera A .3Ji ior-emnblle ' ."'J McAndrewi & Ferbei ....lOJ Mercer Metera " Natlanrfl Leather un eta.. . N J Zinc 18?,. Tareena Aute 1 rni d Merria . Ilartle Cem nadie Cem pref Itanaer Itubber ...... II J neynetd new D heuth Cnar A Irne... Teb Pre'.i Sxp Tedd Hhfp U H LUht & lteat .. U S Hhlp Cerp U S Hteam lTnliAri ltrn Hharlnr. United net Cnnuy e Union Carblde 4 Wayne Ceal ,. .In Weit l!n.l Chem 7R Wm Davlei 20 8T.VND.VnD OILS .in IV. ' 7IV4 4 8 11 HI 10. 4ft 11 5 lh 22i mi 108 n 2 ft 1 4 1 02 8 '111 r 7H 20 4 7? 2tV4 7 11 24 10 41 11 0' R3'4 22"i M r.i ,8W no 108 n 3 8 It. a4 2i 87 $ 4 7B 02 8 48. 7 0 17i 014 Anste-Am Oil ..... HtifkevA I1 I. ....... .. -w . ...... KureKa i' i ., .51., Imp Oil Canada lOI'.i Ohie Oil 27.1 l'relrle O & O B30 Stnnd Oil of Ind ?H Htand Oil of N T 3U3 17 Jl 81 103 27r. C30 3(15 INDfiriiNIIKNT OIM All'ed Oil S Ark Nat Ons left lloene Oil 23 eimn Wyumlnff V-' Carlb Syn 3 Cltlea Horv. old 170 Cities feerv "H" ctfa .... 10 VI Columbia Hyndlcate li Continental ret 10 Crenl Myml " Cunhlng; Pete B 1'enny Oil 0 IMmend Oil 94 Ilnxli eera' Petrel 00 Federal Oil 14 Feneland 10H Cranada ,.u 2, uillliami Oil & H'rnreck Oil IH HudJen OI 13 lini.e' al Oil ii si Int Petrel 14 Kiruy l'ct lav. Uvlncatnn Pet 1 I.ena lVt' 84 Marhcalbe Oil 2JJ4 Murine OU a ft Merrltt Oil OVi .Mcrldna Pet 10 Mrxlcin Kftcle IAi M.-dce Oil IH -Mex Pan 2 . Mountain Products lift .i.utual oil .,.... (I National Oil !! Keblo . - II Omar Oil ,.. M lennerk en r, l'rcmrer Uc( 4 lied llanK 32 .nlt Creek Pred 14- S.ipulpa Itef 3 Klinms ...- 10 U HMly Oil fl Southern Pet A lief 3Vi Mouthern .Stated -all Texon 03 Ti-ck HuRhea 28 Un TexRa GU 8 White Kaila 2.1'i Wilcox Oil 2H Y Oil 33 MeK 1C8 10 IS OVi l s 4 68 SO 14J 171 IH 78' 2.1 i.'l it 10 if. 14 HVi II 18 83 S 4 V, 30 14 ay e n 3 8 no 28 32' 17W 014 at 103 2711 (130 80 3nj 1H 22 ' 'an 100 l a e B4 5 12 ii4 lH 18 J 78 2'.IW vi ieU 11V4 II :i 13 83 :, 3U M 31, IV n an 3' r,i 28 4 2:m 2H 32 TUrS. IHaW VrBV 4MatV AkO -!- $3,894,000 CAPITAL i 5 en nnnnr 11 $2,250,000.00 II MININO Alnnka-D"1 Columbia 2i 21 21 Alvardq. M (IH lift IV IIlK Leuxe 28 27 27 Ileit b. Ment (1(1 04 C3 Canada-Cep-. i 28 27 28 Cupper Canyon .'.... 08 03 88 Lena Cep .M IK l'i I'.i Cortex Silver 80 60 88 Creaaen Geld .1 2?, 3 Divide Kxt 10 10 10 Eureka Creeima 27 20 27 Geld Kewanaa 4 4 4 Ueld Zene 11 11 11 Lard Shell 31 22 27 Marmtll Divide 12 12 12 Hccla MlnlnK 41 41 41 Howe Hound 2)1 24 2 Iren Irioimem 20 20 20 Jereme Verde Dlv 3i a, 3 Jumbo Intension 3 3 3 La Reen Mlnlntr 30 30 30 Lene Star 2 2 2 Mairma Copper 30 2u!t 20 Mether Lede clt 81 M National Tin 52 no no Nt'vadn Ophlr 37 38 3D New Cernelia 18H 18W 18 i Nlplialmc UH 1U US lluy Hercule 1 3 4 be Amer P & Q Ci n C'i lonepah llelnent 1 V4 li'r lVi Tonopah Divide 70 rts OS Tuelumna 03 03 U.I Unlted Unatern 2Vi -V. -' 'N tat End Cen 77 77 77 , White Capa 4 4 4 xukoe ueia m m in BONDS Allied Packer 0a ...... 1 All'ed Pucker On ctfa Al.leil Packer 8 Aluminum 7a of '25 ., Aluminum 7a of '33 ., Amur l.lalit La Amer Tel (Is of '22 ., Amer Tel Oa of '24 ., Anaconda Ga Anaconda 7s of '20 Ancle-Ainr 7H ill Ts, , Allneu Ilurnsdull 8a lleacr lleard H lleth Steei 7s of '33 ... Can Nat Pwya 7a Can Pac Ss Cel Graph 8i Cep Kxp 8a of '23 .... Cen I'.XD 8s of '24 ... Cep Kxr 8a of '2S . . . Ci I a Uas 8s Cu'jun Tel 7 Vis (loedrli'h Tire 7i tlult Oil 7s llied nub 7s InterlKire 8s of "22 ... Kennocett 7s I.arlede Oa, 7s I.lbby McNeill 7a Manitoba 7 . . . Nat Acire 7a Nat Cleak 8 N Y N II & II 4s Pnlla Eluc Gs I'lilla Ce 8s. 1044 Phillips Pet 7Mie. 1031. Pub Hervlca N J 7s... Procter & Qamble 7s, '22 ikar,-lleebuck 7s, 11122. Srars-Ileebuck 7s, 1023. Hhawbheen 7a Holvay 6s Southwest Hell 7s Stand Oil N Y 7s, 10211. Stand Oil Ml Y 7a, lnae. Stand Oil N Y 7s. 1031. Stand Oil N Y 0Va .... Sun Oil 7s Swift 7s, 1023 Swift 7a. 1031 Texan Ce 7a Teledo Kdlsen 7a Tidal Outg 7a Vacuum 7s Warner Su jar 7a Western Elee 7s Wilsen 7Wa ....I!.... Argentine 7a City Torte Alesre 8a .... . 70 . 584 . 80 .102 .102 . 117 . lU'l .101 . us'i .102 .103 . 1024 . 0SH . H'Jb .IOII4 .1U(I4 .10H1 . 20 1, ,102'i .102', .101 .101 H .103 . 07 ,103'i . 00 . VI .111'-"; . OilS Oil I, . 00s . USit . 0IIS . 74 t .101J4 . 03 .1112 . 071 .1WI . 007 . 084 .102 .103S .101. .1011 .11171 .1(111 .1(17 . 01l .KilS .102i .1011! .105 .100 .10lll . enVj .105 . n . 07 . 004 70 38 80 102 1021 074 lu0 101 884 101 1034 102V4 08J 00 Vj 101U 10114 101 ji, 22 Vi 102it 102 104 101i 103 07 103 en 81 102 01! 0 00 08 011 73i 101 014 102 07 100 00 08 1021 103 101S ion 1071 ion 107 0114 101 1021: 101 105 0111 10(11 00 104 en 071 oevl 70 &8 80 102 102 07 100 101 08 1 102 1031 102 08Ja ue lulu 1004 10m 28 102 102 104 101 103 07 103 en 81 102 emi 00 00 IH 00 14 101 114 102 07 100 00 08 102', 103 101 urn 107, 100 107 001 101 102 , 101 105 001 len. en 104 en 07 eau LIVE8T0CK QUOTATIONS Chicago, Jan. 24, CATTLE neeelpts. I 11,000 head. Few early tales drs'rable beef steera steady: ethers slew, weak te l.v , lower; Beed heavy steers. 18 73. hulk beef 'steers. $707.85: she stock and bulls tendy; cahes. 23c te 50c higher; ateckers and feed. ers slew, weak. HOOS Hecelpts, 37.000 head. Slew. mostly 10c te 13c higher than yesterday's neraice. some early 23c higher; top, 10.30. I one lead, 100 te 170 pound uveraae; virtual i uiniici mui usaiuiuiVi U.illJ li .e, We offer a Selected Hit of Municipal, Railroad and Corporation Bendt We are prepared te purchate eeund itiuet of Corporation Sonde which have an ettabliehed record of earning STROUD & CO. MIe Walnut St.. PhiUdalphU 43 Exchange Place, New YerJ HIIRl?P- llr(nt it ntn i... yearllnita, 2Be hlsher; ether cliei atfj.ii Lawrence E. Brnwn & r CERTIFIED PUBLIC ACCOUNTANTS , 1030 UKAL K8TATK TIltlHT ni no Investlsat. and adjust corpora! en anrt TVx,nn.!irDn.,:W0U,,,, nd ""i fteciS. ptlm'ui lunf-'ivy A.D. CONVERSE & CO. Commercial Trust BIdir.. Phlla. .. ... nnltlm.na iiii...U-.11TTgX: LlBht Irt .Irnnv Ife l.n.i . ui ' .;ijf 113.85; packers. $18.73: choice lliht ytr'. lings. $12.75; choice 123 pound ewes $7,30. I Kast St. Leuis. Ill,, Jan. 24. CATTLE receipts. 4000 head. Oeneially steady; spots stronger en steers and beef cows, geed light mixed y".rllns. 8; ie.1 cites. 25c te BOe higher: bulk. $11011.30. HRs.r" jl'e?IPts. O00O head Active, mostly SOe higher; top $0.73 p.i'd for 170 Vnurul shipping averages; lrtual hutcher ten 0,110; bulk. $110 te 180 Vn.l aVerages' $0,il00.75i bulk. 100 te 231) pound welKM.' $0.2500.110; bulk heavies. $0 W 11.J5 ; packer sews strong te 23c up. $il.30f7. pigs. "3c te 30c higher; $7.7500.73. quality geed. SHEEP Hecelpts, 2500 head Active Jnibs. top. K13.H0: bulk best "," L, $18 ?26 13.110 niedlums. tlSCf 12 30- cilia aiVl rnn. I men. $0O11.5(l"Vkn, 1L7J f'iV geed heavy jcarl'ng.. we. scarce, selling SP ' Pittsburgh. Pa.. Jan. 24. HCK'.s lie. StrtilKV0''"- !'" yerker. and SIIKKP AND L SECURITY SALESMAN me7,r cmVa'Tf ;"e2dfS.-J.-UKT. perlenced men of high reDiite an,i JJ.V ability te furnish th Tbe.tef' r.?edr.wiLh Ooed commls.len. Abaelutslv no bem" s?ecU" c,o..pr3eona.,Srod"fe00,1 pur Y Tep, $13.30. lAMIlS Hecelpts, 800 head. Steady. m.. i." .; i ""c'T'1'c"pi. BO" head H,J."i,?rV.i?nOPi'.iS;P'.8's0.' J'Uibs. $13.73 ou neau Knst Huffnle, ?', Y,. Jsn 24 rATri ie Hecelpts. 100 head. Stead;, Calves rV culpts. 125 h.ad. Steady. $36l4.' T HOOS Hecele'.s. 2800 heaili "!ia til.h.. moVe SSJ'hAV vm,l,r' ? 11 erk.'.. f J.?l0'Jft: J,h.,-er,",r" anil Pigs. $10.2Mr 1Vii"n,?ifti , a.ae 34.30: ntlUr.i1 A.ND IAMMN -llct)nt fifth hrti Lambs. 25c up. Berlnc llmb,.P l'C 14 2J?1 The Cleveland, Southwestern and Columbus Railway Company Te the Helders of Bends and Stocks as follews: The Cleveland and Elyria Electric Railroad Company 6 bends, extended te February 1, 1923. The Elyria and Oberlin Electric Railway Company 6 bends, extended te August 1. 1922. The Cleveland, Berea, Elyria and Oberlin Railway Company 5 bends, extended te February 1, 1923. The Cleveland, Elyria and Western Railway Company S bends, matured August 1, 1920, extended at 7 te February 1, 1923. The Elyria, Grafton and Southern Railway Company 5 bends, matured January 1, 1922. The Cleveland and Southwestern Traction Company 5 bends, maturing February 1, 1923. The Ohie Central Traction Company 5 bends, matured June 1, 1919, extended at 7 te February 1, 1923. The Ohie Central Traction Company 5 bends, maturing March 1, 1923. The Norwalk Gas and Electric Company 6 bends, extended te February 1, 1923. The Cleveland, Southwestern and Columbus Railway Company 5 bends, maturing April 1, 1927. The preferred and common stock of The Cleveland, Southwestern and Columbus Railway Company. On January 20, 1922, the Judge of the United States District Court, Northern District of Ohie, Eastern Division, in a suit brought by a creditor against The Cleveland, Southwestern and Columbus Railway Company, appointed F. H. Wilsen Receiver of the property of the Rail way Company. The undersigned have been requested by the holders of mere than a majority in amount of the $3,628,000 par amount of the Railway Company's first consolidated mortgage geld bends, maturing April 1, 1927, te undertakej as Reorganization Managers, the formation and accom plishment of a plan of reorganization which will give due and proper regard te the established liens against the consolidated property of the Railway Company, and also te the interest of the stockholders, and have consented te act as such Reorganization Managers. The holders of the consolidated bends of the Railway Company in the Spring of 1921, realizing the unfavorable financial condition of the Railway Company, became interested in its management, and the Railway Company, upon recommendation of such bondholders, secured the services of F. H. Wilsen, an experluncjed and highly trained railroad man, under whose direction as President important cconemipg -.and betterments were made during the balance of 1921 in the operation of the Company's property. The extreme less in gross operating reve nues, due te the unfavorable economic -and industrial conditions, se decreased the net revenues that the Company has been unable te provide funds for the payment of bend interest maturing January 1 nnd February 1, 1922, and taxes, and the receivership was necessary in order te preserve the integrity of the railroad as an operating unit. Although needed as a strict measure of preservation of the property of the railroad, it is believed that the receivership will offer an opportunity for a reorganization advantageous te all security holders. Based en careful studies which have been made for some time of the railroad properties, its earnings and future opportunities, a plan of reorganization is new fn course et prepara tion which it is hoped can be submitted te the security holders within the next thirty days. Upen submission of such plan, all security holders will be given the opportunity of depositing their securities with trust company depositaries in Cleveland and in several ether financial centers. Ne deposits of securities will be asked except upon final formation of the plan. The terms under which the undersigned have undertaken the reorganization stipulate that no reorganization cash charge or expense of any kind is te be charged against any depositing bondholder of an issue made prier te The Cleveland, Southwestern and Columbus Railway Company consolidated bends. Upen formation of the reorganization plan due notice thereof will be given by mail te all known bondholders and by publication. Hayden, Miller and Company Reorganization Managers Cleveland, Ohie, January 23rd, 1922. VspTcstntatire Public Utility Companies jet which bend or note tunes hart been underwritten by Halsey, Stuart & Ce. either alone or jointly with tuieciata 'A t 2 ) 4 3 6 7 8 9 10 11 12 11 1'4 13 16 AflMfV't Liirfa Ar TnhIa. - - - American Public Serricm Ceauwnr A - - V7 i. . Ashlsad Ugbt,Pew flCStrccC SUHwet Company Central Illinois Pubfe Serrks Coeipnf Cencrsl Power Company Chicago, North Shere BC Mitsmukrc Railroad Commonwealth Bdisen Company Detroit Ory Gas Company ll.Sc Leuis &t Interurban Company Empire District Electric Company FortDedee.Dcs Moines ct Soetham rUOread Housten Lighting ft Power Company Illinois NerCbcrn UriUrie Gmmn Tiimi.i.m4 Af W ... I .1 I w PII A. ff Il 17 Kansas City Power ft Light Company IS Kterucky utilities Company 19 Ladecie Gas Light Company 20 Metropolitan Edisen Company 21 Middle States Watar Works Company 22 Middle West Unities Company 23 Mebue Gas Company 24 New Jersey Power ft light Company 23 Northwestern BUraeed Railroad 26 Pacific Gas ft Electric Company 27 Pennsylvania Power ft Light I".-.. -r 28 Portland Riulwar, Light ft Power Cempaay 29 PubGc Serrica Comeanv of NtHrn ni;J. San Antoeio Public Serrica Company San Joaquin Light ft Power CorperaaVm Seattle Lighting Company 34 Seuth Side Elevated Railroad Coaepany 33 Seathwestzrn Bell Telephone Company 36 Southwestern Power ft Light Company 37 St. Paul Gas Light Company ' 38 The Ohie Public Service Company 39 The Springfield Railway Company 40 ThB Tri-City Railway ft Light Company Vermont Hrdre-Elecmc Corporation Western United Gat ft Electric Company West Peen Power Company Wisconsin Power, Light ft Heat Company XT?.... ...:.. D..1.I.. c : r 47 Wisconsin Railway, Light ft Power Cempanr - wr m,.aiin stiver rower iempany 30 31 11 rA I dwtmit -t '"TssssP I Xt&J3- r- I . HilU r daV - ft' ' ' ' ' .saw 1........L S 1N. gf .JETi i V igT.' 42 43 43 '46 1 rn ' TESTS 1 1 tf a Scan pSdicWfity I HALSEV. STUART CO. Pl8TOdrMTcnuairrentIiadPubucUrilit7 ' donesajjdpainphlet,,-TenTeMeiPub- IwUtflityBerid" PA.43. : &Came Street Cits A Natien-Wide List of Public Utility Bends THE above map shows hew extav sively Halsey, Stuart 63 Ce. have been identified with the underwriting and distributing of bends of important, well-managed, public utility companies throughout the country. In times of prosperity or depressions there is always a deprndable market for transportation, gas, light, power and water essential services which public utilities sell both te cities and rural communities, usually without compe tition and en practically a cash basis. Earnings are safeguarded by the very necessity of the service rendered. We shall be glad te send you descrip tions of the available bends of any of the companies listed in the column at the left, or ether public utility bend offer effer ingswith our pamphlet, "Ten Tests of a Public Utility Bend." INCORPORATED HALSEY, STUART & CO. Land Title Building, Philadelphia. Telephone Locust 4820 CHICAGO NDWYOBJC . PmiAnnnui a . e- . .. MUJiu . UUTROrr . MILWAUKEn 5T. LOUIS MINNEAPOLIS' . x .'I V- "I jl V?I ii f t :'. w i f N ji VL. vmCA v"f -Vi $' V-r ."V ,-'
Significant historical Pennsylvania newspapers