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At Clese of Business
April 1, 1922
North Philadelphia Trust Cd
Bread St. and Germantown Ave.
Above Erie Ave., Philadelphia
S,83G,518.82
. 2,447,611.61
WE HAVK TODAY 0172 DEPOSITORS
WITH CHECK ACCOUNTS
8043 SAVINC. FUND DEPOSITORS
A Total Belonging te Our 18,315 Depositors of $6,304,130.43
These Fund the Company Leans and Invests in a Careful Manner Se
M te Be Always Able te Meet the Depositors' Requests for Payment
I.
II.
III.
IV.
V.
VI.
VII.
VIII.
IX.
X.
XI.
Fer This Purpose We Have
Cash in Om ault Geld, Silver and Notes.. .
Cash en Deposit With Hnnk, Payable en Demand
U. S. (ie eminent Sectiritirs
Hands of States and Cities
liends of Railroads and Other Corporations. ...
iiliiii si. pi. vm iu:auii v MH.n
Leans te l'lrnn and Individuals
I'WAHI.i: Hll. UK ASK KOK IT WITH SIICI'IU TIKs
(.'!' hih.kviwn maiim:i' x.xi.ft: ri.i:itu:u roil
r.Y.ti:xr !! i ",s
Leans en Time te
MdSTI v TIIIIKi: Vl'
!' VI I.I -rv.VlU N
I'AVMIAT
Leans en Premisserx Notes
te r ums Ai isim tin a:.s i'ayahi.k in Tiutm: en
kmi n .ru.s-i us
Mortgages
MdSTI " PWKI.I 1NOS PClTI'IKD II V Till: OWNKHS
MANY P UllnM tKK cjl'AII l'l'ltUY PAYMENTS (A
AU'nl'NT or TIIH I'HIM'II'AI
n.'inkinj; llou'e nnd aults
IM'I.I i-s 1 s M'K liKI'cSM AII.TS U'TII (-
ie -n ion r: n .mu hem:s.
Interest Accrued
Firms nnd Individuals
i u n NTH'1- with .si:n-iuTii:s
iint.i w.i i; I'l.Btmr.u reii
S287.394.73
390,918.21
602,038.21
18.-1.328.23
l)71,SSS.I5
1,987,932.79
46,679.70
197.221.13
2,211,333.00
300,603.91
NEW. YORK BONDS
ISAU'S IN II nil) J
Ar r.fp-" 7'llra,len Cepperilnt
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This
TOTAL $7,184,934.88
leaves n purplus of S80,8M-l
"0,SS6J'J of which is a reserve fund
r.el aside for interest and taxci.
The balance being the cnpitrl, $2j0.
000; Surplus, S500.000, and undi
vided predts, $50,938.16; which con cen
tHates a iuarantrc fund for all
u he de business with us.
In addition te the above we held
S. U622 in Trust made up of
$:0I,589.05 in Securities and S.W.
S;'fi.i'r in Cash, which are kept en
tirety separate t.nd apart from the
Company's assets.
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, National Bank :
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April 4th, 1922
ASSETS
IMMEDIATELY AVAILABLE: ,
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April 4th, 1922
ASSETS
IMMEDIATELY AVAILABLE:
Ctth nnd Reicrvc Sl.960,263.64
Exchanges for Claarinj Heuse 302,719.72
Due from Correspondent. 415,818.45
Eligible Paper Diaceuntable in Federal Re
serve Bank 8,987,735.6C
U. S. Certificates nnd Bends 3,567.474.65
$15,234,012.12
OTHER LOANS AND DISCOUNTS:
Due within 30 days $1,285,602.16
Due 30 te 90 days 477,180.82
Due after 90 days 1,375,896.00
U. S. and ether Bends 648,061.99
Banking Heuse 271,000.00
$19,291,753.09
LIABILITIES
Deposits $12,653,043.73
Due Fedcr-il 'Icserve Bank 2,464,500.00
Circulation 140,000.00
Reserve (Un-.irnsd Interest) 91,516.18
Reserve (T.-r.es etc, I 97,353.22
Cnpital Stecl- 1,000,000.00
Surplus and Profits 2.S45 339 9fi
$19,291,753.09
M. C BAKER, vr-. , W B. VARD, c.i,ier
ssistnt cvsiurns
II. C IIKIT.i:. V. II. Dliss il. (, I'OI.IIKMI s
DIRECTORS
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AI.Ml'r.T H. ASHUV. Aist (JasnK
WILLIAM POST
,-tiian Kxccutlse Commlttee
hu1
Mr. ClciiKut .1. C nut, Vice
Trust it SurtmjK CeiiiHUtu,
Prvmdeit el
suit! te us:
the Ci'ntiul
"Te insure your buMiiu.s-fi for ctedit is im
portant. The picniium .should be paid a recog
nized liim it Certified Public Accountants.
A comprehensive statement of financial affairs
will be leivlired by them which will have the
elicit of nnte ml y streiiKtheninir credit at
bank and in tne market. A business heupe
withei t tliis 111 urancc will be at a disad
vantage ill the f.iture "
Centi-al National Bank
of Philadelphia
Chestnut Street at Fifth
Capluxl $1,000,000 Surpliu and Undixided Profits Earned $4,6co,cte
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There svhr n Reed dfalef dlsctiislen
after the elrmlng jefterdny about the
development of Inereiided xtrenRth In
the security tindlnR Rlturttlen nnil n" te
what the vlgerntiN buying In pregrrns
for ever n week Indicated. Tlirre were
man,' who were positive In the view
another bii vine wave has developed
Mniller te thnt which was sticli n fue
ter In etiuMng the boom In the lnnt half
of the McKinlev Admlnlstrntien. which
I In generally designated ns Hie Flower
, boom.
Ill their opinion, tlie huj Iiir: wave lins
,tarjtcd and It will prow In visor daily
for n long time 0 eeme. and tuny eniide
, a new period or activity nnd strength
In NCfiirlty dealing. Tlie slluntleti,
J however, h.is heen mnde eeniplcx be
1 cause of different element!' which have
I HOW nrevnlled. Aninni' iIicnc is the
'"u ..h -'J'i iwslty. for waiting until a nettlenicnt
1 11,111 l,M """ted in the railroad labor (dtua
1 .. lii.ij, ,,i,. i.. ...11, ,. ...,..,... ,.. ii., j
""'I ucimr utlllisil nciivitll'ti III Illliiuuii
Mecks enn he renf-ennbly cenihicteil.
It wiih 11 1. je th(njlit te lie niM'i's-snry
theie nlieuld lie 11 geed premise of an
emergence from the liiilustrinl condi
tions which hud prevailed nil threiiKh
11)21 In n record of business declension
In many hiisluess afl'nlrs. Se fur It has
heen commented en tlini 1 1n- mnikct hus
Wash T'l as, it I been one of speculative cuiiibliuttleiiN.
n. . 70S I peels nnd iiievemcnts directed by what
1 , H,1 ' 'i'''' fhiksrd us Inside Interests. Hut it
it "", J "ihns been repeiitcdly clnlmcil that such
mut'Kel epcrulliins iiilitst necessarily lie
I conducted before 11 bull campaign
'reaches ils full volume, and (hut general
and sustained buying win be expected te
fellow these operations.
Spread of ilia ('nmbllng Spirit
I Tlie virulent contagious cluuai'tcr of,
j the speculative fever is stiluingly ex-
cmplllieil iu the iccciit wild demon
stratiens wlilcli lime been witnessed in
the stock market, and which oil two
occasions this week threatened te de
velop Inte a riiuiiwii' efTulr. Ampin
proof is te be found In the overcrowded
condition of tlie beard rooms of the.
various commission heuc. The gam
bling spirit, however. Is net alone con
lined te various groups of stocks, but
has foiling outlet In ether directions.
A sulking Instance is the novelty of
tindlng In sugar futures, which has
I cached finite considerable piopei'ilons.
I I started by it guarded icmark inude
by a well-known Micnr mini a few
Hlll.02 ! weeks age, who hinted 10 some friends
lllll.lill , there was a possibility of n geed, rich
I clean-up being mnde by speculating in
;stignr option". Tlie tip spread rapldls.
. iliieugh the different clubs, mid for the
first time In their history several of the
! larger commission houses have been
milking operations in sugar for some
(if their largest trmleis. There is no
j telling whcie the disease will spread
I when It fi'ice develops.
I Reliable Hushiess Barometer
The turn in the tide of bank clear
jings in I'Ybruary, neceidlng te I'.rid
,streei's. the total for tluil menih show
I lug the first gain ever the like mouth
I of the previous year since the Mimmei
1 of 11120, has been maintained.
'The March total of llil cities nf the
I United State. .S'O.OS.VJ-O.OOO. sM,ws n
I Rliin eH'i.t! per cent ever She li,c mouth
, a year age. whereas the gain in Keb-
tlini't W.'ls lltllv J.J nor i.nnf f, ml li
.InniiPi'.v total showed an atliial less nf
S.2 per cent from tluil reemded in thl
first month nf I1I1M.
"A slight hiwering of the. general lev.-!
of lommedily piices in March is inill I
cated by the Itradstreet Index Number ,
1 as of April 1. which shows a decline of '
six-leiniis of 1 per cent as compared
1 with thnt ruling en March 1.- This de.J
I fllne was nut nppaiently 'due te any
pecial weakness In nny one class of
products, llie'igh feeds ns n whole were
weaker, but was slinrid in by ten out
of thirteen groups, thirty-four articles
declining, while ulnteen advanced, iifty
three remaining unchiinged.
"Itrndstreel's Index Number ns nf
April 1. 1!l2i was $ll..-,:tl7. which I
ceitipared with S11.00Q1 en Mnich I.I
thus marking the decrease nf six-
tenths of 1 per icnl during (he third i
month of the yenr. This wns the I
second siKht decline in a period of I
ten months' time, or fiem June 1 te
April I. ilurllis which the price level
as n whole showed 1111 advance of 7.!l
per cent."
American lusiitutc of ihe (iinphic
designs.
r.urns Itrethri's' 1 i Idemls
Aiii:; the obscure Micialllcs. the
Hums ltentes ..ee.l smrcs have at
tracted (piite n geed deal of attention
In the recent trading because of the ap
parent quiet accumulation for intliien
tlal liiferestN and 1111 iiupt.iil.inl group
in the undine element.
The earnings for the fust ipiatter of
the j car. according te iiuthiiri.ed state
ments, fully justify an iuciense in the I
dividends en both the "A" aim "H" ;
slecks, but It Is expected thai buying1
of the "I! ' shares will tench 11 much
larger volume before imj change in divi
dend distribution is ordered. The com-
pan tins no bends and no ether in
deliledness and lis entire charges for,
dividend distribution nnd fin the pur
pose of retiring Ihe prier pieferred stock !
amounts m less than $I"0().IOO. This1
includes the pn.Miient et 'J per cent per
annum en' the "H" shines !
It would add nn!j !.'!21.ll00 ier nn
niim te the lulnl ilislmrsemenis nf tic
company te Incrciie the dividend en the
"A" shares te 12 per (ent and put the
"Ii" sh.nes en n I per cenl dividend
basis.
Trend or Lnu.'-Tcim f.nuds
IMIIen. Head tV i'i. 111 11 sjir,'in ,.jr. 1
cuhir letlee illsciissing the trend of
prices of high -grade invest incuf issues
say: "Leng-term bends, paillctilnrly
tliese which cannot he 1 ailed for pay
ment pi ler In mnturit.s. lire distinctly
iipwani ; mat is timnnl lmer ,mciis.
ecoiiemle ( nnilitieiis point thai
nml li I" generally believed that
rise will continue for Mime cnrs
te cenn1, or until ce' evlling prier
'hi 1t(l-l arc 1 cm Ik-.I ('iinndlnn l'ro l're
1 vincinl bmiils ns :( 1 hiss base ulwajs
I steed ns among ihe highest guide of in
I x os tneiil s. 1 111 Hu .
1 "We, ilii'iclnii, ('insider it perfectly
! hound in ns-uini 1 li.it t'aimdiini I'ro I're
liluciiil ixiiiiN should icliii'ii williiu the
next 11 w jciis 'it ineu in n ii.j per
cenl basis, ami it s quite possible that
lliey wl'l lcndi n .' per cent basis he
lore the did e 1!)'J2. Il is Inteiesllng
fu Hele III, il these llili v- ear lien-
( (liable IiuihIs en 11 .'1 in r t out basis'
would si.' in lll"ij; should il'c 1 each j
111 4'tf per cent In sis In two yen is they 1
1 would m l ut I l.i." I
j The I't'iiiiilknhlc fm ward swing in the
1 stock of the Westlngheuse I'lectric and I
.Maniifiir'tiiriug l'eiuianv has been te a
great extent picillcalcil en the wide-
iqilcnd giewth nf the iiiillo-lclenlieue
,,,,. r- ,, I "'" -i few dnjs age 11 representative I
Cardinal Selects Father Farrell te (pf ,ll(, Westinghouse Company told one'
Organize Northeastern Church of the local business association of the
, 1. i ,i. r,i,nutnrl, I weuili'it'iil giewth In the (iiitpul of the
Last Year's Big Shrinkage In Busi
ness Being Rapidly Overcome
New Yerk, April 7. The (lencrnl
Electric Company appears te be re
covering from the Industrial depression
of 1021, according te Its report, Issued
jesterday. In thnt year orders fell te
$170,722,000 from 318,470,438 In
11)20, but In the first quarter of this
year they gained at the annual rate of
mere than $200,000,000. After elim
inating cancellations, unfilled orders at
the end of 1020 steed at $15,31)1,000
for large apparatus, In contrast te
$111,778,000 at the close of the pre
ceding year. In 1021 the company
hilled net sales of $221,007.01)1.01,
against $275,758,487.57 In 1020.
After allowing for depreciation and
Federal taxes the company's Income
from Its snles of 1021 was $21,070,
083.00. which, with $0,478,084.41 In
ether income, lifted lis total Income te
$28,155,007.47. Frem the last named
amount was taken $0,502,835.15 for in
terest, discount en debentures, notes
payable, etc., nnd Investment securities
lcserve, leaving $21,052,812.32 avail
able for dividends, out of which $13.-
lun.ea-- in per cent cash dividends
paid, leaving
DESCRIBES NASSAU FIRE
Senater Patten Among Phlladel
phlans Who Fled Flames
The fire which destroyed the palatini
Colonial Hetel at Nassau March 31 was
described today by Slate Senater Ed
ward W. Patleti, who wns a guest at
the hotel wlien the fire started. A
number of PhlladcUihlens escaped from
the hotel.
"I was awakened about 0 A. M. by
people pulling thlnss around." said
Senater I'atten. "I went out in the
hall and saw everybody making haste
te vacate. I did net even step te wnsh
mv face, hut gathered my things to
gether and joined the throng. A a
wended our way te the public squnre
nnd there surrounded the public build
ings of the town and proceeded te camp
out. I started home the same day.
"The hotel wns a large four-story
frame structure about twenty-five years
old. with n frontage of several hundred
feet facing the sen. It had 300 rooms.
It was Inclesed en three sides by small
buildings."
DR. SADTLER LECTURES
Tells of Favorable Position of U. S.
was tiaii 1. icnvitie sn.lmm .Lnn :i fee
siirnliif. I n.nardlnn Ceal SuDDlles
Un December 31. muri. ihe com. i .. ........ -r ,i. t-..i...i
linny's surplus, after a led c. Ien of ...V" rv"rl.,?ip -1 ' ."" " l.."" ' " -
M,4b,3M.tu for sundry adjustments
(net), was $08,020,745,24, te which
was added $8,243,200.32, while $(!,
(1(1.114 was deducted for 4 per cent
stock dividends In 1021, making the
llnal surplus at the end of that sear
$70,12(1,021. 5.
States regarding coal 'supplies nnd the
further fact that It has two-thirds of
the world's supply of petroleum and
chief natural gns, were pointed out by
Dr. Samuel IV Sndtler. professor enter
Itus et chemistry at the Philadelphia
, College of Pharmacy and hclencc, lit an
nuuress iui nitsiu.
Paris Bourse Irreaular )r. Sndtler spoke In the college, at
',, . ,," ,rre0ular ,45 Nert, Tenth street, giving the
I ri. AON! i. Prif e i.witA.1 ihin..iii.i.i t jt. v . . . .i i-
en the lour;e tcdny. ThWp pt cmu rfnlci. ' twelfth lecture III Hie popular science
exenence en l.emlmi, I lecture course, ni' mumvh tins lm:
frnncit t...... inter als of the t'lieinicin iniius-
.1, frantd 3.1 centltncn
4S Itlincd 1, Centlmea. .1 nr n,nl ??
SO centimes. The dollar was (juelcil
francs 0i lentlmts.
nt te
COLONEL DUMONT TO JPEAkf t
French Military Attache Will Ad.
dress Belleau Memerial Meeting
Colonel Dnment, military attache of
the French Embassy, nnd Senater
Ueerge Wharten 1'cpper, will speak at
a patriotic meeting te be given by the
Itclleatt Weed Memerial Association In
the Academy of Music Sunday after
noon. The announcement tliat Colonel Dn Dn
eont would come here for the ecca
slen was made yesterday by Mrs, Theo Thee Theo
derc W. Heath, acting chairman of the
association. The meeting will open with
patriotic selections by the Navy Yard
Hand. Then will fellow a prayer by
the Her. Jehn Meckrldge. Follewltig
the singing of "The Hymn of Thanks
giving" by the Orpheus Club. Nelsen
Eddy will sing "In Flanders Field."
Free tickets for the meeting may he
obtained nt the St. James Hetel, Con Cen
wav'a ticket offices, Heppe's and tin
Franklin Institute.
HEADOFWELLSTOBEHERE
Dr. Macmlllan Will Be Quest at Col Cel
lege'Alumnae Dinner
Dr. Kerr D. Macmlllan, president of
Wells College, wlilcli is conducting a
campaign for n $1,000,000 endowment
fund, will be the guest of the Campaign
Committee of the Philadelphia district
nt a luncheon iu the Hetel Adclphln to
morrow afternoon nt 1 :30 o'clock.
Dr. Mncmillan attended n joint meet
ing of the Executive and Advisory Com
mittees of the Philadelphia district yes
terdnv. nt which It wns nnneunced Hint
Philadelphia alumnae of ells College
have raised $10,232. The Philadelphia
iiiint'n Is $10,000. Among the large
contributions te the campaign wn
S25,000 from Cleveland II. Dedge, of
Detroit.
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PASTOR BACK IN PULPIT
Rev. Stever Dees Net Let 5 Weeks'
Quarantine Interfere With Duties
The IC" lless Stever, pusinr of ihe
, Messiah Lutheran Chiirrh. Sxt'Ciith
' and Jeffersen streets, wes releu'ed from
his 1 nine .esterdnj b the Heard of
Ilcalili niter ti'e weeks of (pinrantlne.
I'iiim' niietiiis in the rhureli hisi night
was at 'ended bj mere ilinii lOllll per-
I sons, who i row ded the edifice te the
lllllll s.
lien Mr. Stever's seven-jenr-eld
ihnighiei Mnrtbn contracted s, arte'.
fcM'i iittn .- than a month nne. he wns
H'cn'ciiui: from the grip, lie hiiv been
I'b-eiit ttnui the rliin ch services for
iieiirh two months, but lie did net let
euhei Ins illness or Ids quarantine
iiitun'ie with parish fltit it While lie
was iliiud he cnniiiiuiiicai-'d church
iilliuis. seixices nnd sei moils te his M'c
iclnis In iclepheiie. These wete piinted
, weelds ip the chinch paper
i,i ss went nil lis lisu.ll.
nnd busl-
PUPILS SEE TYPE MADE
First of Tours Through Industrial i All
Plants Made Yesterday . Jj'JJ
In nriler te nenunuit tile pupils nt
the l'i 'iiisvlvanlii .Miiseiim nnd Scheel
of luilii trial An wilh the problems that
will coiitient iliein laiei, inuis of In
spccpiKi have been n-i'iinscd with sari
nils iihIii-U'iiiI estahliihiucnis In tliU
i-it x tsierda a bilge group of stu
dents nnd uieiuliern of the f iciilt.x vis
iicd the plant of the Liinsteii Monotype
MiicbiiK Ceinpain.
The wcic shown the various proc
esses in the pi mine Ien of type fiem
l lie dl.niine. te (be c mpleied metal.
Tied W (ieiid.. presideni et tlie Aiuer
h mi liistiiute of the (irnphic Arts, New
Yerk Clis. iitie nf Ihe Iji'-i known de
slgin i's of type fni ( s in Ihe weild.
cxpiiiiucil many of the incidental steps
in the pinicss
FORM NEW PARISH
II n.l Man lin 1 '''
I .17'; "'' ''(:! l"lrt
nt n .Met 4", ( 3 1O0
pi j; !'( i. - I. W
n HI 1" !'"
, IT , H ,1 V I " I ,,,
H'cilnu of (ieriniinieu ii has been formed
b; Cnnliiial Deuglierly In keep piu'c
wlt'i tlie i lipid growth of population.
The Hev. William (.'. I'lirrell. pastor
it the Church of Si. IYuiicis de Sales,
l.eiini, I'll., has btcn selecled te or er
gnnii) it.
The new church will be erected In the
neighborhood of Clielien and Ogenu
luenues. 1 1 Is said ground has hi-en
purchaiied, hut ith (location has nut
been made public, rather Parrcll wll
make his home in linn neigniior'ine'i
J. . i, .,, ,,' 47 &!" 7- A inceli.lg of Catholics who Will be
Wen 3', i ic hi., 3 " .iinlnileil in the new parish will be
2.1 no in i; i 'T called within tlie next mentll.
J ,ii a e Te i i I - Hit I' '' "' ;ur" , Tlie new parish Is formed from mim
I ' ' fl"M , S,-Vi il p.nn n n si f 1P Immaculate Conception. Hely
je(le) i. """ -J child and Hely Ang?: iWrlshM.
H ppliii lir-i's, whli h IllH'IIH'lls te I each
stiitmering propei thins,
In WedncMlny evening, ill the iiieel
i.i); "I one of the lurgc fraternal olguui elguui olguui
.itieiis. the Immense assemblage was'
held Kiillhniiliil lis a radio leuuiiunt- ,
union 'te tlie niecliiig l'i mil I'le-lilciil i
llaidiiig from his elhcn In the White
Heuse, and another message from the,
supieuip eflicer of the fiuternlty. at ,
Sawiuiiiih, tin. 'I'hcse weiiili'i I ul feats
natiliully have aroused cniishlciahle
Interest In Ihe cencenih in.iiiiifacluriug
i lie nppllimeeh, nnd. ns lie Wcstlrc.'.
beuse Is the pi ill ipul producer, the
sleck lelleclH the ;;ieth of the lad
Yesterday the sleck, generally an In
active issue, continued Its remarkable
rlfcp, showing a net advance of 14 points
from the Jew of the yenr.
THE TKApKlt.
New Issue
CAROLINA PUBLIC SERVICE COMPANY
First Mortgage Sinking Fund 8 Geld Bends Series "A"
Dated April lit, 1922
Due April 1st, 1942
Callable at any time as a whole en thirty days' notice at such a price as will be
basis te maturity.
If called April Ut, 1923, the call price uieuld be 122.49
If called April 1st, 1932, the call price would be 114.88
The Company will refund the Pennsylvania and Maryland State Taxes
net in excess of 4 mills.
6
Authorized $5,000,000
Outstanding $555,000 Series "A"
250,000 Series "B"
Bends
Bend
THE AMERICAN TRUST COMPANY, RICHMOND, VA. Trustee
THE COMPANY: TIe Carolina Public Service Company owns nnd operates modern
ice manufacturing plants in Charleston, Columbia, Greenville and Spartanburg, S. C.
It retails nnd xvhelesales ice in these Cities and surrounding territories. In additionte
its local business, the Company has a contract with the Fruit Growers' Express for icing
and re-icing its cars.
LIEN: These bends are n direct first mortgage en the entire property of the Company
new owned or hereafter acquired. Day 6t Zimmerman, Inc., Engineers, Philadelphia, who
have made a report for, us en the property, state thnt the reproduction value new of the
property as of January 31st, 1922, leas accrued depreciation, is mere than twice the
issued first mortgage bends. N
SINKING FUND: Commencing April 1st, 1922, the Company will appropriate in
equal semi-annual installments for n Sinking Fund, a sum equal te 2Yzre of the par value
of bends outstanding. Such sums will be npplied te the purchase and cancellation of
bends nt the following; prices: Up te 1927 at 103 or better; 1927 te 1937 at 105 or
better; 1937 te 1942 at 103 or better.
RESTRICTIONS: Additional First Mortgage bends can only be issued for 66 of
the cost of improvements, when net earnings for the past twelve months, after deduction
of operating expenses, including normal taxes nnd I3re of Operating Revenue credited
te Maintenance and Depreciation Reserve, have been equal te twice a full year's interest
en bends issued and te be issued.
Beginning January 1st, 1922, nnd yearly thereafter, the Company covenants te credit
te a Maintenance and Depreciation Rerervc fund I 3 Te of the gross ice and coal earnings.
LIQUID POSITION: Upen completion of the present financing the Company will
have no Bank Leans, and Current Assets will be mere than twice Current Liabilities.
EARNINGS: "The Company has shown a growth in both gross nnd net earnings. Fer
the year ended December 31st, 1921, after deduction of thoroughly adequate Maintenance
and Depreciation Reserve, amounting te ever I3rc of the operating Revenue, the Com
pany earned a full year's interest en the total iimeunt of new First Mortgage Bends new
outstanding 2.73 times. Fer three years ended December 31st, 1921, Interest Charges
were earned en an average of 2.27 times.
PRICE: 100 & INTEREST, YIELDING 8.00c'e
Breeke, Stokes & Ce. Wheat, Williams & Ce.,
inc.
Members Philadelphia Stock Exchange
140 S. Fifteenth St.
Philadelphia
Washington
Baltimore
American National Bank Bldg.
Richmond, Va.
This Infotniatlen, while net KiMrante! 11 ehta nr,l from neurifi rt hp'i in ,9 reri,'
All of theie Bends bivini been sold, this sdvcrtiiemcnt spptsri ss a milter of record enlr.
STATEMENT OF CONDITION
At the close of business April 1, 192U
The Pennsylvania Gdmpany
w Insurances en Lives and Qranting Annuities
TIrustand Safe Deposit GbMPANv
MAIN OFFHT.
517 CHESTNUT ST.
Opposite Independence Hall
RESOURCES
Cash en Hand and in Bank
Leans en Collateral
Investment Securities
Commercial Paper Purchased
Reserve Fund for the Protection of Trust
Balances
Real Estate
Customers' Liability nc Acceptances!.'!!!!
Miscellaneeus: Assets
HP.OAP ST. OFKH'K
1321 CIIKSTNUT ST.
Cemer Juniper Fltret
.$ 8,320,002.02
. 25,517,716,66
. 1,875,669.20
7;i3,489.'24
5,728,127.30
933,235.00
75,000.00
520,010.03
$43,704,180.37
LIABILITIES
Capital .Stuck
Surplus Fund
Undivided PiulUs $8115 VfiV 71
Reserve unninat dep. iu Investments 23'.,!i9.-Vg
Deposits
Acceptances Executed for Custeinci's! !
.Misct'llaiunua Liabilities ' "'
.$
2,000,000.00
5,000,000.01)
1,067,970.79
.'15,539,708.53
75,000.00
21,495.05
$43,704,180.37
tt TRUST DEPARTMENT
IIMat I'Ulllls 'Miiminr,,,,,,,,
i'-"-l"U.',',-U,.)U
i oipeiati' Trust-. .
. S. W. PACKARD
I'ristdcitt
299,109,727.75
I. R. CAItPKNTHR, Jr.
'i'rcuaitrer
CHARTERED 181X1
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