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Philadelphia Rapid Transit System
$200,000
Darby & Yea den Street Railway Ce.
First (Closed) Mortgage 42 Geld Bends
Guaranteed as te Principal and Interest by endorsement by the
Philadelphia Rapid Transit Company
2re Nermal Federal Income Tax Paid by Company
Free of Pennsylvania Personal Property Tax
Dated December 1, 1904
Due December 1, 1934
Inlerett payable June and December l.t. Coupon bend in denomination of $1000 each. The
Land Title & Trut Company, Philadelphia, Truitee. Redeemable en any interest date at 105 and
interest.
PROPERTY: The Darby & Yeaden Street Railway Company was incorporated in
Pennsylvania in 1904, and is leased by the Philadelphia Rapid Transit Company
for 999 years.
The read forms an important connection between the Philadelphia Rapid Transit
Company and the Darby, Media & Chester Street Railway.
SECURITY: The bends are secured by a closed first . mortgage en all the property,
rights and franchises of the company new owned or hereafter acquired, in addition
te which the Philadelphia Rapid Transit Company guarantees the principal and
interest by endorsement en each bend.
EARNINGS The earnings of the Darby & Yeaden Street Railway Company are consol
idated with the Philadelphia Rapid Transit Company, which latter Company
showed, as of December 31, 1921, a balance of $1,807,292 above all of its fixed
charges, including rentals.
Price Upen Application
GARRISON & CO.
WIDENER BUILDING, PHILADELPHIA
MEMBERS
Philadelphia Stock Exchange
New Yerk Stock Exchange
i
TELEPHONES
Philadelphia Spruce 8370
New Yerk Recter 3672
As nil of tliej. bends h 1 n eM this
nclrrtlfemnt appears enh en a mutir of record
Irbef informatien-hs bn ebttlncd from feurcis which c dni rcliiblc nd whlld net RUrntPH , acc,rte bx us as correct I
STRAUS BUILDING , I WJ lilfflHS NEW Y0RK
What It Means When
S. W. Straus & Ce.
Recommends a Bend Issue
We recommend these bends as a safe investment' is a phrase
you have frequently seen in the bend offerings of various in
vestment houses.
Did you ever step te think just what such a recommendation
means? In iTiany cases, it simply means that the firm offering
the bends believes they are well-secured and reasonably safe.
But with S.W. Straus &. Ce. it means much merc.This Heuse
bases its appeal te the investor en our record of 40 years with
out less te any investor. This record is our greatest asset, and
we could net afford te recommend an unsafe security.
Our recommendation means, therefore, that every bend we
offer has back of it our forty year record of safety.
May we submit our investment recommendations te you ? We
will be glad te de se if you will call at our office or write for
BOOKLET 838-L
S. W STRAUS &. CO.
INCORPORATED OFFICES IN FITTEEN PRINCIPAL CITIE5 ESTABLISHED iSSl
STOCK EXCHANGE BUILDING, PHILADELPHIA
Telephone, Spruce 5628
FORTY YEARS WITHOUT LOSS TO ANY INVESTOR
1
I
f-- .Fat-tyiJTmHrT.ttTww ftriy - r- .n.
y h. w. attaust Lu.
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'After Yeu Leck Up
I art' th.'n? D J"0" l"e the
, wh 50iA0 cellectnl nftcr bank-
I fcv V. 1r ,0 ,l Issible pllfcrliiK
VV turglnrs? Mn e mire by making
deposit etery nlnht We are
- unui je p. ji.
ffisx cSfeiS U
4PQr: . c. ;
JOURS 9AM-1QPM
We own and offer
Joint Stock Land Bank
5s, 1951
at 1013
Thmr henili iir Hilriimeii
Intuit or I In' I . S. (iorrn (ierrn
inrut anil urr free friicn nil
luifii rucit liilu'i.luiiie taws.
WlDCNIft BlD0PHIU0(lfHM
iUvhn Pliliiit'rti i cJ
Am )eri Stilt l:lh jiii
UfwveaK ruiiMTM N I
e.oi.curk&ee.
BANKERS
I
f 321 Chestnut St., Philadelphia
Established 1837
I
I Members New Yerk and Philadelphia
Stock Exchanges
Traders Column
April 11th, 1912
CA88ATT eV CO.
BPRuce 2000
$20,000 Baltimore & Ohie Eq.
6, Jan. 15, 1933 5.65
$10,000 Baltimore & Ohie Eq.
6s, Jan. 15, 1934 5.65 7r
$10,000 Delaware & Hudsen
. Eq. 6n. Jan. 15, 1930. .5.40
$20,000 New Yerk Central Eq.
4', s, Jan., 1931 5.25
$15,000 Atlantic Coast Line
Eq. 6s, Jan. 15, 1932. .5.50
$10,000 New Yerk Central Eq.
6s, Jan. 15, 1931 5.50
COMMERCIAL
TRUST COMPANY
SPRuce 8200
Will Buy
Pub. Serv. Cerp. of N. J.
Perp. Int. Bear. Ctfs.
newhall; gross &
diffenderffer
, WALnut 2690
Kansas City Ry. 5s, 1944
Shaffer Oil 6s, 1929
Geshen Gas 6s, 1929
Atlantic City Elcc. 5s, 1938
Indianapolis North. Tr. 5s, 1932
ISAAC STARR, JR., & CO.
Raae 7938 Spruce 2881
Pitt., C. C. & St. L. 5s, 1970
Bell Telephone of Pa. 7s. 1945
Lake Superior 1st 5s, 1914
City of Phila. 4s, 1944
N. Y., Chi. & St. L. 6s, 1931
Federal Farm Lean 5s. 1941
Kiscnlehr Cem. & Pref.
Denner Steel 8 Pref.
Pennsjhania R. R. 7s, 1930
Colerado & Southern 4';s,1935
Chattanooga Rys. 1st 5s, 195G
Harwood Electric 1st 5s, 1939
Kankakee Gas & Elcc. 1st 5s,
1930
Ter Kpace In thH column
Pheno Spruce 6720
SINCE 1871
the year in which Phil
adelphia started te
build her great ten
million - dollar City
Hall this institution
has successfully served
many hundreds of
prominent Philadel
phia business houses
some of which began
in a small way and
gradually grew te a
great size.
We Can Serve Yeu Well
.Savings Fund Department
open errrj Monday
evening until 7 P. M,
y S2.230.600.0q' II
Niiunuin Knui'wirjiiiiii'iiiinrMWiii iiuircuj i
VJE HAVE just compiled up
te-the-minute reports ei
the following corperations:
Studebaker '
Midvale Steel
Penna. R. R.
Royal Dutch
Davisen Chem.
Bald. Loce.
Cktck the rtpertt you art inttrttttd in
rtci'wing.
OUR FINANCIAL INDICATOR
keeps ou posted
SEND FOR L-11
L'tittd itcnrititi can it d en comtrta cemtrta
live margin.
Inqniriti and accounts invitti
CULVER & CO.
STOCKS & BONDS
1 ember?
n
n
n
n
n
b Vhilndtlphin lleck Eichana
m Consolidated Sleck Kxrhanee of .V. 1'.
a CULVER HLDG.
H 1504 Walnut St., Philadelphia
B "IT.'" ,tM,B iriicr 8SiO
m rittkhureli. I'n., nrnnnttllr, lx..
S Htruhrnlllr. O.
' S, PATTON &CO;
" lIU'.ST.NIir VIS.
BANKERS
:nhen
SutrfiMir
uursrsik&'
lu. b.-1-- !'
..-"" .mil
?!
Kf
I'! and aeld.
r.
DQSilEl
CSJ 1SJ.U AXSJ JULSaSJl S S 111 SJLUSJLSJli,
Jl Accountant Executive I
'Irihiuil In I'rfilll". CiillcitlimH nnU
erilLD ArnnnKemmt. new atallabl.
Uet e( refrifnca.
A RIO. Idcrr OMm '
rwiiifniTmfiiiiiisiiii
Unlimited Funds
Fer First, Second, Third
or liuilding Mortgages
HI l( K ACTION
ABE KOLSKY &
COMPANY, Inc.
N. W. Cat, tth ui Wahat te. J
WANTED
Phila. Truit Ce. Stock
Cern Exchange Natl. Bank
Bank of North America Stock
BARNES & LOFLAND
M7 h. 4 rn sr.. I'iiii.A., r..
TH. lembnrd 4172
A Bank that was obliged
te take cioditer's
merchandise te liquidate lean
hnn n larire quantity of Cylin
der Oil, which is for sale at a
very low price. Specifications
furnished upon request. Ad
dress Oil. P. O. Bex 5, Station
F, Nw Yerk City.
S2 00 000
ERIE RAILROAD COMPANY
Equipment Trust Geld Notes
0ted January IS, 1920, te mature in fifteen equal antjual instalments Redeemable as a whole en any interest date, at the option
of the Railroad Company t,t 105 and interest, en sivtv das preieus notice Interest paablc January IS
and July 15. Principal and Interest paab!c in U. S. Celd in New Verk Cit. Coupon
Notes in denominations of $1,000 each, registrable a.s te principal only.
These Notes are a direct obligation of the Erie Railroad Company under an Equipment Trust Agreement between
the Director General of Railroads, the Railroad Company and the Guaranty Trust Company of. New Yerk, Trustee.
The title te the equipment under the agreement remains in the Trustee until all of the Notes have been paid. Through
supplemental agreement,' dated January 15, 1922, 33 "6 of the Notes of each maturity, held by the Director General,
are te be stamped se as te give preference and priority te the above offered unstamped Notes out of any moneys
received or collected by the Trustee under the Equipment Trust Agreement in case of default. Upen the execution
of the supplemental agreement, the unstamped Notes will be outstanding te the extent of only about 58 of tilt
original cost of the equipment, viz., $4,501,500, en which they are secured.
Original issue $4,501,500
Pid off 600,200
Amount outstanding $3,901,300
Held by Director General, one-third of each maturity te be subordinated
te Notes new offered 1,301,300
X
Notes new offered $2,600,000
The equipment consists ef:
Heavy Switcher Locomotives
Heavy Pacific Locomotives
200 50-ten capacity Steel Underframe Bex Cars 16
15 Heavy Mikade Locomotives 20
25 Heavy Santa Fe Locomotives
Fer the year ended December 31, 1921, the Erie Railroad Company reports net income after ell bend
interest, including this issue, taxes, rentals and ether fixed charges, etc., of $2,694,425.
We offer the above Notes, subject te prier sale, if, as and when received by us. at prices te yield as follews:
Maturity icld MaturiU
January 15, 1923 5 40 January 15, 1930
15, 1924 5 50 " 15, 1931
M 15, 1925 5 60 ' 15. 1932
IS, 1926 5 70 15. 1933
" 15. 1927 5.75 - is. 1934
15. 1928 5.75 . - 15, 1935
15. 1929 5.80
Yield
5 80
5 80
5.75
5.75
5 75
5.75
Payment for Notes allotted is te be made in due course In New Yerk funds at the office ei J. S. Bache Ce
42 Broadway, against delivery of Guaranty Trust Ce. Temporary Receipts exchangeable for definitive Notes when
received by thern.
, New Yerk, April 11, 1922.
J. S. Bache & Ce.
Members New Yerk Stock Exchange
42 roadway
NEW YORK
108 Se. La Salle Street
CHICAGO
The abesc statements hae been obtained from official and ether sources
which we liclicxc te be reliable, but they are net guaranteed by us.
Guaranteed Unconditionally as te
Principal and Interest by
The Dominion of Canada
Canadian counsel advise us that these guaranteed bends are secured by the full
credit and taxing power of the Dominion of Canada equally .with its direct obligations.
Grand Trunk Railway 7s
Due 1940
Nen -Callable up te 1935
Selling te Yield about 6
Grand Trunk Railway 6s
Due 1936
Nen-Callable during entire life
Selling te Yield about 5.85
Canadian Northern Ry. 6s
Due 1946
Nen -Callable during entire life
Selling te Yield about 5.75
Canadian Northern Ry. 7a
Due 1940
Nen -Callable up te 1935
Selling te Yield about 6
The above bends, selling te yield from 5 te 6, constitute, in our judgment, an
extraordinary investment opportunity and we strongly recommend their purchase.
We shall be pleased te execute orders at the market
Dillen, Read & Ce.
St. Leuis Merchants Bridge
First Mortgage 6 Bends
Due Feb. 1, 1929
Price te yield about
5.90
Description en
Bonbright & Company
New Yerk
437 Cheatnut Street, Philadelphia
Botten Chicago
Detroit
Estates of $5000?
Statistics show that estates of $5000 and
eftrn times mere arc dissipated in a few vears
"here tlieie is no trusteeship. We assume the
responsibilities of a trustee, uhich assures the
future of thesi- you uih cared for. A censulta
tien minus mn set ,our mind at case en many
of your firincial responsibilities.
THE REAL ESTATE TRUST CO.
OF PHILADELPHIA
Bread and Chestnut Sts.
vP5H555
"Dividend-Paying Pelicitt"
AUTOMOBILE INSURANCE
EXCHANGE
07 ChastMt Star
MCewnyCa
Laad Tide Bid
rati, flask Bstaaaw
TAX FREE MUNICIPAL BONDS
Haverford Township, Pa. Scheel 44 1932 4.171
City of Reading, Pa. Scheel 5s 1933 te 1945 4.15
Upper Darby Township, Pa. Imp. 42s 1952 4.15
Redstone Township, Pa. Scheel 5s 1929-34-42 4.39
Township of Ridley, Pa. Scheel 5s 1952 4.39
M. M. FREEMAN & CO.
42 ft Cheatnut SI. PtHlasUlthla
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