ttSfS"'"' I5 i I: s !' te-. WraraHHKKKTK .f . ,IW, ? llWJVW.i IA7.W . T"WB JTT.WM1K r..M&b .. WKrreiAMflfflBlMHHEra WTO ..msi M?Jtfr r -V r r mmm 4 riKr, " T " ' " ' " - f 181 am i et. .-? k. -- VT4 ' v 1 raM ii(if.i,4rfi.. it .j "tttfTWr'-fiSJ fptjjp sw.?r . ' CBBHWft" w autettj c . .x r'fr.WMfiewffr' "Tirarr v;. MMSS mmjamemi'i; v rETSTei tfWJA U,n rL'i" .y t -f -k j'irmi !??.?&? vti f'i'T. a T.C ''A,A!TI HUBSPY, FftV t a T 0 wlcl flh " 'Z'-VA-J, .ci.fiy J lUJNUi KM lirtaF iBftA Ri'JMirCFf JT".IY ' il' '!. "WW.-" .!- WiJ 'ni ing: REORGANIZATION OF International and Great Northern Railway Company Te the Helder of the following Benda and Netes: INTERNATIONAL AND GREAT NORTHERN RAILROAD COMPANY First Mortgage Six Per Cent Geld Bends (extended from November 1, 1919, at Seven Per Cent.); COLORADO BRIDGE COMPANY J First Mortgage Seven Per Cent. Geld Bends (extended from May 1, 1920, at Seven and OnjeHalf Per Cent.) INTERNATIONAL AND GREAT NORTHERN RAILWAY COMPANY Three-Year Five Per Cent. Geld Notes, First Refunding Mortgage Five Pe? Cent. Geld Bends. A Plan and Agreement, dated June 1, 1922, for the Reorganization of International and Great Northern Railway Company has been prepared, under which the undersigned have undertaken te act as Reorganization Managers. Helders of the following bends: International and Great Northern Railroad Company First Mortgage Six Per Cent. Geld Bends ! Colerado Bridge Company First Mortgage Seven Per Cent. Geld Bends may become parties te said Plan and Agreement by depositing their bends with the appurtenant coupons maturing November 1, 1922, with Bankers Trust Company, Ne. 14 Wall Street, New Yerk, receiving therefer certificates of deposit of said depositary in form approved by the Reor ganization Managers. Helders of Certificates of Deposit for Three Year Five Per Cent. Geld Notes of International and Great Northern Railway Company, issued under the Agreement dated August 11, 1914, be tween the Committee thereby constituted and Helders of said Notes, who shall net exercise the right of withdrawal under the Agreement dated August 11, 1914, become parties te said Plan and Agreement without the issue of new certificates. Helders of Three-Year Five Per Cent. Geld Notes of International and Great Northern Rail way Company may become parties te said Plan and Agreement by depositing their notes with the coupons maturing August 1, 1914, with Guaranty Trust Company of New Yerk, Ne. 140 Broad way, New. Yerk, the depositary under the Agreement dated August 11, 1914, receiving therefer certificates of deposit issued under that Agreement. Helders of International and Great Northern Railway Company First Refunding Mortgage Five Per Cent. Geld Bends may become parties te said Plan and Agreement by depositing their bends, with all unpaid appurtenant coupons maturing en and after August 1, 1914, with Guaranty Trust Company of New Yerk, Ne. 140 Broadway, New Yerk, receiving therefer certificates of deposit of said depositary in form approved by the Reorganization Managers. All securities deposited must be in negotiable form. , Deposits of all securities must be made en or before July 1, 1922, after which date no deposits will be received except upon such terms and conditions as the Reorganization Managers may determine. Speyer & Ce. and J. & W. Seligman & Ce. have formed a syndicate, of which they are man agers, te underwrite the cash requirements of the Plan as stated in the Plan. Copies of the Plan and Agreement of Reorganization may be obtained from cither of the above named depositaries, or from either of the Reorganization Managers. Dated, New Yerk, June 1, 1922. J. & W. Seligman & Ce. Speyer & Ce. Reorganization Managers. Je holders of Certificates of Deposit for International and Great Northern Railway Company Three Year Geld Notes, issued under the Agreement dated August 11, 1914, between the undersigned Committee and Helders of said notes who should become parties therete: Netice is hereby given that a Plan and Agreement, dated June 1, 1922, for the Reorganiza tion of International and Great Northern Railway Company, has been adopted and approved by the undersigned Committee, and that a copy of said Plan and Agreement, with the written adoption or approval thereof endorsed thereon by a majority of the members of the Committee as new constituted, has been ledged with Guaranty Trust Company of New Yerk, the deposi tary under said Agreement dated August 11, 1914. Any holder of a certificate of deposit who, en or before the twenty-first day of June, 1922, shall surrender his certificate of deposit te the depositary in negotiable form, and comply otherwise with the terms of the Agreement of August 11, 1914, with respect te withdrawals, shall thereupon be entitled te withdraw the notes represented thereby. All such Helders who shall net within said period exercise said right, shall be conclusively deemed irrevocably te have waived said right of withdrawal and te have finally assented te and adopted said Plan and Agreement, whether they had actual notice or net, and shall be bound by all the terms and pro pre visions of said Plan and Agreement without further act or notice. Dated, New Yerk, June 1, 1922. FREDERICK STRAUSS, Chairman. FRANKLIN Q. BROWN, HENRY K. McHARG. F. N. B. CLOSE, EDWIN G. MERRILL, WILLARD V. KING, DE WITT MILLHAUSER, ALVIN W. KRECH, S. H. VOORHEES, R. LANCASTER WILLIAMS, Committee. GUARANTY TRUST COMPANY OF NEW YORK, Depetiury Ne. 14 Broadway. New Yerk Subject te prier sale and change in price, wc offer Monongahela City Washington County, Pennsylvania 5 Bends, Series 1922 Total issue, $190,000. Dated May 1, 1922. Denomination, $1000. Coupon form; principal may be registered. Interest payable May 1 and November 1 at the office of the City Treasurer, Monongahela City, Pa. Free of Pennsylvania State Tax and all Federal Income Taxes. Assessed Valuation, equalized 1922. .$4,886,235.00 Net Funded Debt, including this issue 254,205.1 1 Population, census 1920, 8688 Percentage of Debt, 5.20 MATURITIES OFFERED Due Amount Price 1 927 $15,000 103.74 1928 5,000 104.42 1929 5,000 105.06 1930 5,000 105.69 1931 5,000 106.28 1932 5,000 106.85 1933 8,000 107.40 1934 8,000 107.93 1935 8,000 108.43 1936 8,000 108.92 Due Amount Price Slny t 1937 $8,000 109.38 1938 12,000 109.83 1939 12,000 110.26 1940 12,000 110.67 1941 12,000 111.06 1942 12,000 111.44 1943 12,000 111.81 1944 12,000 112.16 1945 12,000 112.49 1946 14,000 112.81 Te yield about 4.15 Monongahela City is situated 3 1 miles south of Pittsburgh en the Monon gahela River. The city is served by the Pennsylvania Railroad Company, Pittsburgh 6c Lake Erie Railroad and the Pittsburgh (St.) ' Railways. The industries are varied and include glass, paper, lumber and coal. Mellen National Bank Pittsburgh, Pa. Liwrenr F. iRrnum Xr Cn CERTIFIED PU1LIC ACCOUNTANTS IWVMllff&la nrt arili.at n.tuitHAii iwl lKJltt!rmW!0Ut " WffW """ S MORRIS J. ROOT Certified Public Accountant Ufaytu Bum-. Fhn.Jlpfcl. FINANCIAL BRIEFS The Unnk of KiiRland'B minimum dis count rate remained unchanged at 4 n,er cent. Fer tlic first time piricc dntc of lwue nil Liberty Henda sold nt par or better jcitcrday. Preferred nnd common Meck of In In ternntlennl Harvester Company In held by ever 17,800 different stockholder. The nvfragc price of the twenty active Industrial uteeka declined 0.7H per cent yesterday te 05.03. while the twenty railroads declined 1.30 per cent te SS.Rit. Advices from Panama sav the re ceiver for the Panama Hanking Com pany, which closed its doers two mouths ace, announced that 50 per cent en all deposits will be paid en .tunc l"i, Completion of the. steel merger ap pears te be awaiting only ratification of consolidation plnn by In'nnd Htcel di rectors. Inlund beard met yesterday, but up te late at night no determina tion had been arrived at. Iteperta Issued liv car scrUcn division of the American Hallway Association showed that en May 123 there were p04, 702 freleht cars Idle, compared with fil 2.100 en Slay J 5, or a decrease of 74114 cars. The munlclpnl Council of Hnrcclena has under discussion the iue ei n lean of 05,000,000 pesetas for the purpose of an electrical exposition. The Issue price will be 02.40, nt 0 per cent Inter est. The first nnd second preferred stocks of the American Stores Company, called for redemption .Tunc 1, will be stricken off the regular list of the Philadelphia Stock Exchange at close of business to day. Southern Hallway's April figures showing rms of $10.401. 1er, nn In crease of .4II,.'M8 ever corresponding month of 102U nn Increase in net oper ating income In April of ..":i0.239 ever the $008,401 of April, 1021, arc en couraging. Greene Cannnea Copper Company rer the venr ended December ill shows deficit of S2.408.001. after chnrges and taxes. This compares with surplus of $500,078. equal te SI. 12 a share earnel en $50,000,000 outstanding capital stock, in the previous jenr. A group of nine banks in the twelfth Federal reserve district with combined icseurccs approximating $000,000,000. perfected pluns for formation of four joint stock land banks with initial ag gregate lending capacity of $10, 500,000 te serve farmers of Arizona. California, Oregon. Idaho, Washington and Utah. The Alabama I'ewec Company and subsidiary companies report operating revenues nmeunting te $4,029,477 for 1021, and net income, after expenses nnd miscellaneous deductions, of $1, 013.032. Allowing for preferred stock dividend icmilrt-inents and Interest, the report showed an amount transferred te Mirplur f 101,010. One- of the larcct nubile utility Is sues of the year outside of the telephone j group is announced ieuhj ey me na tional City Company and Benbrlght & Ce.. who are offering $12,150,000 Ten nessee Electric Power Company first and refunding mortgage Scries A Os. due 1947. Offering price is 00 and inter est, a yield basis of better than 0.30 per cent. The Standard Oil Company of In diana has notified Its empleyes that purchases of stecK under Its stock pur chase plnn will cost $S4 n share for the twelve months fiem April 1 te March ."I. 1023. During the preceding twehc months, the first under which the stock participating plan was effective, the offering price te workers was S73 a share. Loadings of revenue freight for thp week ended Ma. 20 totaled 702.450 cars an Ineiea'c of 15. KM) cai. com pared with the pieccding week, and 21. 4IIS eer the corresponding week of 1021. The Mn 20 figure was u de crease of J 3(1.105 cars, compared with I he same week of 1020, according te the American Hallway Association's statement. Transactions In stocks nn the New Yerk Stock Exchange for the month of Maj aggregated 2S.011.251 shares, a decrease of 1,550,070 shares, as com pared with the previous month, but nn Increase of 11.870.101 shares as com pared with the corresponding month last year. There were seventeen million share dns. with the total of 1.0-13,700 shares 011 the 10th. the largest of the innii III. Hnllieails which nun control of ether 'lallrends are entitled te puicliasc ivil of the outstanding stock of the subsidiary corporations without obtaining Federal authority, the Intoinnte Commerce t'oinmislen ii'lfd incident te dismissing the applinitlen of the ( Iceland, ( in I'lnunti. C'hicngn .uicl St. I.nuis Kail Kail lead for pel mission te puichnse nil out standing stock of the Peoria and East i cm. Tentative reports received by the In terstate Common e Commission from 137 class one railroads showed that in April these reads had- a net operating incemn of $35,230,000. compared with $21,880,000 for the same month lnt .car., In the light of these returns it is 'estimated in snnip quarters that the April net for all the rends will net ex ceed $50,000,000, nr nt the rate of only about 3'i per cent en the property In estment. Production in April of the Mether I I. ode t;oaiitien .Mines Lempany was I 2,021,001 pounds of copper, compared. 1 with 2.017.035 pounds in Mntch. 2, 1071.051 pounds In February nnd 1.-1 015. SU3 pounds in January, a tetnl ef1 1 8.020.450 pound" for the fust feur1 months of 1022. This is. a production 1 tecerd In the corporation's hlsten. I High-grade ere in April nssnyed 01.44 I per cent ceppet, compared with 05.07. ' per ( cut in March, I I The April lepnrt of 137 of the 201! class I railroads of the country, issued by the Hurcau of Hallway Economics. 1 'shows net operating income amounting' te $35,230.01X1, compared with $21.- I SOO.000 for the same reads during April, 1921. Total operating levcnues for the '137 toads amounted te $207,300,000. a decrease of 4.0 per cent, compared with the previous enr. while operating ex penses totaled N240,533,000, or a reduc tion of 11 per ient from the same month ' fi vpflr n co An Issue of ?0,000.000 prier lien and ipfundlng mertgiisc ferty-jenr sinking1 fund geld bends, series H, carrjlng a J ."(y per tent coupon and due Jnnuavx I, 1 1001, of the Cincinnati Uus and Elec- I trie Company, I' effcied nt OS'-i and In- ' terest, te ield fi GO per cent by u syn- 1 dlcnte, The prm cods of the scries H bends will be applied te the payment of S4.400.OOO u per cent and 7 per cent I notes due December 1. 1022. and will 'provide for additional capital expend! ' tures. Net Income of $..001.340, contrasting with n dcheit in the preceding jcar of S7 ,301, 370. is shown b the annual re port for 1921 of the Missouri, Kansas nnd Texas. The picture given by this comparison Is net entirely correct, ns the 1021 total is swollen by the inclu inclu islen of $3,227,OOS. representing credits 'carried ever from the guaranty period I 1 lnAl llnlAl. lnfit Vftlln An ....I..... Him liairn un. .v.. .""v .. -. " cuiiiiuB te comply with cyders of the Inter state Commerce Commission. With these items eliminated, net income for the year would be S2,07l,311, An Issue of $8,000,000 Sutter Hnsin Company (California) land mortgage tiftecn-,enr sinking fund (Is. guaran teed ns te principal, interest nnd sink, ing fund by .1. Ogden Atmeur, is of. fercd tedaj b the Continental nnd Commercial Trust and Savings Hank, of Chicago; llalscy, Stuart & Ce., Inc. and Hllh, Witter i Ce. The price is 07 nnd interest, te vield ever 6.30 per cent, nends are callnble as a whole or In part en any Interest date at 107 IA n.l ltitntsf in AllOTiat 1 mnl f..l.. stye; the redemption premium cjecreis f. All of these bends having been sold, this advertisement appears as a matter of record only. V $1,000,000 Cambria & Indiana Railroad Company General Mortgage 6 Geld Bends, Series "A" Dated August 1, 1919 Autherixed $4,000,000 Due August 1, 1944 Series "A" Limited te $1,719,000 Coupon bend of $1,000, with prevision for registration as te principal. Redeemable (upon retirement of all First Mortgage 5 Bends) en any interest date at 102 and interest. Interest payable February 1st and August 1st without deduction of Nermal Federal Income Tax up te 2 FREE OF PENNSYLVANIA PERSONAL PROPERTY TAX Gtrard Trust Company, Philadelphia, Trustee .M m ..lass A letter from Mr. TV. A. Webb, President of the Company, is summarized by him as follews: BUSINESS: Cambria and Indiana Railroad Company operates about 60 miles of steam rail road line, including sidings, spurs and terminals, in Cambria and Indiana Counties, Penn sylvania. This territory embraces one of the best bituminous coal fields in Pennsylvania. The Company is engaged in a rapidly growing business which consists chiefly of the transportation of coal from the numerous mines of the district te Manvcr, Pa., where cars are transferred te the New Yerk Central Railroad, with which the Cambria & Indiana has favorable traffic arrangements. Its line also connects with the Pennsylvania Railroad and Buffalo, Rochester & Pittsburgh Railway at Rexis, Pa. CAPITALIZATION: (Upen completion of this financing): Autherised $900,000 Outstanding in thp hands of the Public $555,000 First Mortgage 5fBend, due May 1, 1936 v. . Bend held in f Company's Treasury. . 975,000 Retired by Sinking Fund $270,000 General Mortgage 6 Bends, due August 1, 1944 4,000,000 1,000,000 Bends held in Company's Treasury. . $89,000 Reserved te retire First Mortgage 5's $630,000 CapiUl Stock (fully paid) 1,500,000 1,500,000 PURPOSE: The proceeds of the sale of these bends will be used te retire $500,000 One Year Notes due August 1, 1922, and a lean of $250,000 from the United States Railroad Administration, and for ether corporate purposes. SECURITY: These bends are direct obligations of Cambria & Indiana Railroad Company and are secured by a mortgage en its entire property subject te only $630,000 First Mort gage 5 Geld Bends. The total funded debt which will be outstanding will thus aver age only $37,000 per mile of railroad. Additional bends may be issued te the extent of 50 of the cost of constructing new lines, but net in excess of $40,000 per mile of rail road constructed. The Company's books show an equity in rolling stock amounting te $820,155 as of March 31, 1922, after deducting liberal charges for depreciation and $1,267,000 Equipment Notes then outstanding. The capital stock represents paid-in capi tal of $1,500,000. SINKING FUND: The mortgage provides a sinking fund for retirement of bends at net te exceed 1022 and interest as mere fully described in the accompanying letter. EARNINGS: "91 Vi&A r a Calendar Gress , Year Income 1914 $399,631 1915 447,808 1916 492,538 1917 877,599 1918 996,947 1919 1,139,545 1920 1,669,684 1921 1,517,606 Operating Expenses, Depreciation and Taxes $189,826 218,109 248,466 388,461 555,503 771,430 1,088,376 1,145,687 Net Interest Income Charges $209,805 $103,071 229,699 102,764 244,072 85,974 489,138 160,005 441,444 179,249 368,115 166,203 581,308 158,719 371,919 150,605 Net earnings for eight years have thus averaged ever two and one-half times the annual interest charges of approximately $144,900 en the total First Mortgage and General Mortgage Bends and Equipment Notes which will be outstanding upon completion of this financing. All legal proceedings in connection with tlus issve arc subject te approval by our counsel, Messrs. Dicksen, Beitltr it McCeuch, Philadelphia, and the offering is subject te authorization of this issue by the Interstate Commerce Commission. We offer the above bends when, as and if issued and received by us Price. 101 and Interest, te Yield About 5.93 BROWN BROTHERS & CO. Fourth and Chestnut Streets Philadelphia W. H. NEWBOLD'S SON & CO. 511 Chestnut Street Philadelphia The htatfmenti In thm adrtl?mtnt r bat4 upon nferm.it. en ob in f- in emeinl nurca nr from the which we r's.rl at ruil These bends baring been told, this advertisement appears as a matter of record only Hanover Power Company (Pennsylvania) First Mortgage 6 Sinking Fund Geld Bends Dated June 1, 1921 Interest June ami December 1st Due Series , June 1, 152S erics H and C. lune 1. W Autherised, $3,500,000 Outstanding $630,000 YORK TRUST COMPANY, YORK, PA., Trustee Free of Pennsylvania Personal Property Tax and 2rc Nermal Federal Income Tax (AI.LUIM, ON AM I.MT.IU.S1 rr. ON CD IUtS' Mnilf. ON V .Wy DAM Territery: Hatuncr rower Cempam -nr5 with electric light and pnwrr the Koreughss of H.muxcr, MusheriWiiun 1 ittlcbtcmn and N'ew ( )ierd and the Townships of ! Vim. Onicw.igi and ( Kfmd, all in Yerk and d.mi-, t eiimir-. Pennsylvania. It also supplic- cm rent at wholesale te the t iem hurt; I lcctru lcctru Cempany. subsidiary company operates a street railuav lnie which serve practically the .same teniten as the Imnpain The tcrnterx m which the Lempany operates is ;,n old and stable manufactur uiK and agncultural district, hemp one m tjic wealthiest sections of the Male The total population of the boieiighs and towns scicd hv the (.empauv i approximate! JU.000 ' ' ' Earnings: The Lempany lepeits consolidated earnings for the calendar vca 1920 and P21 a follews: Service and Stability The Cheerful Atmosphere of our bank will con vince you that the ren dering of efficient serv ice is a real pleasure te our force. We particularly solicit commercial accounts; anrl in addition te the usual banking accommo dations, we efTcr you the varied and complete scrvicp possible te sc i ure in a modern Trust Lempany Integrity Trust Company Fourth and Green Street Capital , . Surplus and Profit. . $600,000 .tl.860,000 Is Gren operating revenue. . . Net after taxet , 1920 $209,106.75 . 77,578.90 1921 $234,962.30 82.802.57 Earnings are new running at the rate of almost four times interest charges. Security: The bends arc sccuicd by a direct tirst mretgagc en the entire property of the Company new owned or hereafter acquit cd Legalities All legal proceeding in connection with the iaiue of these bendi have been pasted upon b? Messrs. Morgan, Lewis fi Beckius, Philadelphia, for the bankers, and by Messrs. Heuse, Evans fi Baker, Harrisburg, Pa., for the Company. WEST & 1511 WALNUT STREET PHILADELPHIA CO. 52 BROADWAY NEW YORK LEWIS & SNYDER 1524 WALNUT STREET PHILADELPHIA Thl Information, while net auaranUed, ti obtained from iwureei c rtnril a reliable. N .(U.larke. BANKERS 321 Cheatnut St.. Philadelphia J Established 1837 s A n Member. New erlc and PhlladelMV,.n'i c. l. r.i w.VMfl SllVlB k.U f' t "3 t N Uim Klnlrlp Itj. Iliht ,..' lftf! " L 7rr Haul. IrU. 1 K.irn. ,. S' , Ohie Trart Ien iamiMnr Ut . ,i'i IW 1, tlrelnhv llallnar A rower . . 5' ItRl Htrnnlnn Kullnar nf.. , fl'a tRTI I'nlen Traction of Indiana ' J Mir 1 merlruii Pipe a rint. . I'ftJ. Mb.a v i SAMIIFI K PHHMPS Mr M . . . -"I Mrmlxr. I'li'ljil.lr hli Ntiwlt Ktvhmm '' . J'Vt SOT (IIK.ST.MT MTRKi: dlM C . PATTON s CAd O CHKMTM'T MS. 't'J ANKERS Wi 1 ureei 1 l I f ..., ' -.vfiiMt&MJ w. iymm&MtA, )h MaJtA11imlli 'ill -- -i. Aid! a ' "if.
Significant historical Pennsylvania newspapers