" y i . f '- . . - ' i ' - i i ... . , .1 i i i i ... i . .:.' ... ii ' JMMfcJUIXlLMI 5 r- ,, , " . Iff ' ' . . ' J,A3 f f1 'VI u ftfl NEW ISSUE !rt ?'$ 40,000,000 Guilders 11 . Pershing Square Building - VM ffi 1 ',,V$ a nrMlWMspip'i iiil i I.JiiIiSSI n ? ! ! ! ! ; l- 5 1 mm en : 1911k "V ' ' ; : s i tr n I'liiuSnu e si? cl'fiHl '' II I- m w ft New Issue, te Net 6Vz $6,000,000 - Pershing Square Building NEW YORK CITY First Mortgage 6V2V0 Serial Bends Safeguarded under the Straus Plan 4 Federal Income Tax Paid STRAUS PLAN AMORTIZATION UNDER the covenants of the trust mortgage, the bends are paid off in semiannual serial instalments, the coupons being payable twice a year. In order te assure prompt payment of both principal and interest in cash en the days due, the trust mortgage requires the borrowing corporation te make 216 approximately equal monthly payments te S. W. Straus &. Ce., each monthly payment being approxi mately $45,000. These compulsory payments automatically' provide in advance a fund of a little mere than $270,000 every six months from which the coupons are cashed, the balance being used for the serial retirement of the bends. The fixed charges under the Straus monthly payments are set forth in merteaee and the method of meetinc them bv the following table: Serial Payments and Monthly Payments: Maturity May 1; November 1, Mmy 1, November 1, May 1, November 1, May 1, November 1, May 1, November 1, May 1, November 1, May 1. November 1, May 1, November 1, May 1, November 1, May 1, November 1, May 1, November 1, May 1. November 1, May 1, November 1, May 1, November 1, May 1, November 1, May 1, November 1, November I, Total.. Bends Interest , Maturing Payment! 193S $75,000 $195,000.00 1925 77.500 192,562.50 1925 80,000 190,043.75 1926 82,500 187,443.75 1927 85,000 184,762.50 1927 88,000 182,000.00 1928 91,000 179,140.00 1928 94,000 176,182.50 1929 97,000 173,127.50 1929 100,000 169,975.00 1930 103,500 166,725.00 1930 107,000 163,361.25 1931 110,500 159,883.75 1931 114,000 156,292.50 1932 117,500 152,587.50 1932 121,500 148,768.75 1933 125,500 144,820.00 1933 129,500 140,741.25 1934 133,500 136,532.50 1934 138,000 132,193.75 1935 142,500 127,708.75 1935 147,000 123,077.50 1936 152,000 118,300.00 1936 157,000 113,360.00 1937 162,000 108,257.50 1937 167,500 102,992.50 1938 173,000 97,548.75 1938 178,500 91,926.25 1939 184,500 86,125.00 1939 190,500 80,128.75 1940 196,500 73,937.50 1940 "203,000 67,551.25 1940 I 1,875,500 a i i'i $6,000,000 $4,523,057.50 Total Semi-Annual 6 Monthly Payments Payments of $270,000.00 $45,000.00 270,062.50 45,010.41 270,043.75 45,007.30 269,943.75 44,823.96 269,762.50 44,793.75 270,000.00 45,000.00 270,140.00 45,023.33 270,182.50 45,030.41 270,127.50 45,021.25 269,975.00 44,975.83 270,225.00 45,037.50 270,361.25 45,060.21 270,383.75 45,063.96 270,292.50 45,048.75 270,087.50 45,014.58 270,268.75 45,044.79 270,320.00 45,053.33 270,241.25 45,040.21 270,032.50 45,005.42 270,193.75 ' 45,032.29 270,208.75 45,034.79 270,077.50 45,012.92 270,300.00 45,050.00 270,360.00 45,060.00 270,257.50 45,042.92 270,492.50 . 45,082.10 270,548.75 45,091.46 270.426.25 45,071.04 270,625.00 45,104.00 270,628.75 45,104.46 270,437.50 45,072.92 270,551.25 45,091.87 $1,875,500.00 $10,523,057.50 ( $203,000 Principal $67,551.25 Interest paid by 6 monthly payments, leaving balance te be paid en November 1, 1940, $1,875,500.) Denominatien: $1000 and $500 bends in all maturities; $100 bends in 1940 maturity only. hand civiA THE bends are a direct closed first mortgage en the land and Pershing Square te "i j . Office Building 23 stories in height, containing stores, offices and a large bank- eilildingi n8 room. The building is te be erected at once and its completion, in accordance with the plans and specifications free and clear of all prier liens, is unconditionally guaranteed te the bondholders by S. W. Straus & Ce., Incorporated. Location HTHE property, en Park Avenue, 42nd and 41st Streets, New Yerk City, is located tti j directly across the street from the Grand Central Station, Hetel Commedore and Hetel Belmont. This is one of the finest locations irt New Yerk, familiar te every visitor te the City. The building opens directly into the subway and the Grand Central Station. Earnings "CIGHT floors have already been leased, from the plans, te large corporations. On e X-'the basis of the leases already closed, the net annual rental earnings, en which the bends are a first lien, are estimated at $673,500, which is greatly in excess of the combined annual principal and interest requirements. ' Price: Par and accrued interest te net "6y2. Call, Write or Phene for Circular 649-L S.W. STRAUS & CO. ESTABLISHED l88a COTICES IN FIFTEEN PRINCIPAL CITIES INCORPORATED STOCK EXCHANGE BUILDING, PHILADELPHIA Telephone, Spruce 5628 40 YEARS WITHOUT LOSS TO ANY INVESTOR Anten Jurgens' United (Margarine) Works Twcnty-fitfe Year Secured Convertible 6 Bends Nen-callable prier te January 1, 1928 Dated June r, 192a Due x x9 Coupon Bend in denomination, of 2,500 and BOO Guilders (At par of oxchance $1,005 and $201) Principal and Interest, free of all present and future Dutch laxes, payable In New Yerk through White, Weld Ce., as fiscal agenU for the lean in the United States, In dollars at the current rate of exchange prevailing at the time of payment or, at tha option of the holder, payable In guilder! In Helland. Interest paybte January I and Jury t, first coupon January 1, it)33. Redeemable as a whole, or In part by drawings if collateral be released, en and after January I, 1928, at 105 and interest. Trustee: Nederlandsch Administratis In Trust Kantoer, Amiterdam. A fund is provided beginning January 1, 1928 te redeem by annual drawings one-twentieth of the issue at par and Interest, thus retiring entire issue by maturity. The following is summarised from a letter from the Company, which are are advised by cable was signed by Rudolf Jurgens, Managing Director, and F. II. Hague, .Secretary: Cempany: The Company is the continuation of the firm of "Anten Jurgens", created by the Jurgens family in 1867. Through its subsidiaries it owns or "controls manufacturing or trading concerns with an aggregate value of ever $100,000,000. The plants are situated in Great Britain, Conti nental Europe, Dutch East Indies and Seuth America. Its products include margarine, soap, candles and cattle cake, all essential commodities. Security: The bends are te be the sole funded debt of the Company and Its subsidiaries. The Com pany agrees that no further funded debt will be created by it or Its wholly owned sebsidtariea unless such debt is junior te this issue; also that net quick assets equal te these bends out standing will be maintained. The Trustee of this issue will held as specific security for it, all the Company's present holdings in subsidiaries of which it owns all the common stock. 'Assets: After giving effect te this financing, the Balance Sheet of December 31, 192T, shows against this issue: 17.503,312 Guilders Net Assets Net Quick Assets Ne bills or accounts payable. 47,128,176 T.quity: Thi3 issue is followed by: 82,934,800 Guilders 6 Preferred Stocks 32,627,000 " Common Stock Dividends have been paid without interruption en the preferred stocks since issue, and divi dends en the common stock have averaged since 1906 ever 16 per annum, including 1921; in which no common dividends were paid. Earnings: Net earnings available for interest were:' Average 1917-1921 . . . 9,769,935 guilders .1.4 times interest en this issue. The average annual net earnings after interest have been 12.79 en capital stocks outstand ing, which were increased from 5,000,000 guilders in 1906 te 115,661,800 guilders in 1921, Net earnings for 1921 were 4,591,737 guilders. Conversien: Convertible each' January and July through 1927 inte1 common stock at 150 plus Dutch stock tax. All common stock, after organization, was issued for cash at or above 150, or for acquisition of properties; last issue was made December, 19:9, at 252. The annual high and low prices for the common stock en the Amsterdam Exchange for the period 1915-1921 averaged 283 and 208. Equivalent prices of bends would be 184 and I35J4 respectively, The high and low prices of the common stock in 1922, affected by discontinuance of dividends, have been 96-50. Of this issue of 40,000,000 guilders, 10,000,000 guilders arc offered in Helland by the Rettcrdamscha Bankvereeniging and by Messrs. Hepe & Ce., Amsterdam. Bends art offered for delivery when, as and if issued and received by us, subject te the approval of counsel, Messrs. Cotten & Franklin, New Yerk, and Dr. Schadee, Rotterdam. Pending preparation of the definitive bends, interim receipts of White, Weld & Ce fiscal agents in the United States for the lean, uQl be delivered. APPLICATION WILL BE MADE TO LIST ON THE NEW YORK AND AMSTERDAM STOCK EXCHANGES Price $905 flat per Bend Te yield ever 6.60 te maturity, ever 6.75 te average maturity and ever 7.65 if redeemed in 1928 These yields are based upon exchange at .10 cente per guilder. The guilder is the monetary unit of Helland with a value at par of exchange of 40.2 cents in- the United States. With exchange returning te par within six months and remaining at that fijxre, the yield te rnaturity will be about 6.8590 and te earliest date of redemption MrrS) about 8.32 Tfc. White, Weld & Ce. . The Union Trust Company Cleveland West & Ce. This information and these statistics are net guaranteed, but have been ebtmr.ed ,'retn sources ve belicie te be accurate. At certain of the statements have been received by ceble, the above is subject te correction. June, 1022 III swfl 1 &ue?A&izm.:iims-iii II "'"'lii-ieaiW II On sheer merit the Public is buying Nen-CallableFull Participating- -Mortgage SECURED PREFERRED STOCK Safety Untio.ef first mortgages en Improved real estate te outstanding preferred stock .$125 te $100. Yield Grc (guaranteed). Plus 50 of all profits. Marketability Price protected at par. New Selling at Par $10 Per Share Guaranteed Dividends Paid Quarterly January April July October GENERAL MORTGAGE FINANCING CORPORATION ll.k'fnted under lli ilra.He niue Hky l.am of Ohie) Ridge and Girard Avenue Ciprli1itfJ 11 At. !. r. 1IH.-JI LupyrlslitV IIUL1, ly f."V, HirmlH Va. J KHmU,kj!I',i,"'1' v ma jwjrlmi, (.',; ",;,,' Kant. . .V 1015 ?5ffi1K.PHlLUPS&C0. mi1 GE0.A.HUHN&S0NS Mrmben ' (Ii. I'hltndrlnliln, N" Verli mid Clitran Hterk i;rlmnfc Vi.... V.rV ('(.fun f.rl...n- STOCKS & HONDS bought und sold for cattl. or carried ort'eenservativq margin. tUrMCewt BUU 14U Walaat St. MEWBURGER, HENDERSON & LOEB Members New Yerk and Philadelphia Stock Exchange 1410ChtttnutSt. In Continuous Business 6UfOM4 MOVER r CO. Bankers & Brokers 881, ChMtBut Stmt . $12,000 Life Insurance at Age 35 for $10.08 Per Menth In mi Old'I.lii Company Html Your Int of Itlrth nd Irn Mliitt III) Menth Will lte for Yeu PEARL & SUDLOW AGENCY net kinanck num.. rmi-A. Ilrprndnble Inmiranrr Slur iROS" WIEGNER.ROCKEYtOO Ctrtifitd Public Accountants BUILDERS OF Special Machinery General Machine Werk J. & G.RICH COMPANY 112 N. Sistfc SttMt OFFICERS i n.nu:s r. incskhsem.. itcs. STAM.KY K. WII.KUX, Vlei'-I'res. AJICIIIK U. SWIKT. faultier DA VI I It f.HSu. Af.if te I'rea. A .HIIItT II ASIIUY, Aa.st t ashler WILLIAM I'i 1ST ("miriiiiui livi'iitlvfi i 'uiiiinltica Mr. Charles U Tiretrn, President of the Pitts burgh Plate Giant Ce., Pittsburyh, Pcnna., said te us: "Pennsylvania produces mere platr glas.-. than any State in the Union. The growth and development eT the business of our Cjiupany was aided materially hy the banks from which we borrowed fr'jely in our earlier years. Thrift and economy arc commendable virtues, and nothing is mere conducive te their cultivation than a bank account. The friendship and confi dence of your bank may become a most valuable asset. A bank must have balances, or it cannot con tinue in business. Reciprocity pays." Central National Bank of Philadelphia Chestnut Street at Fifth H . L, m M M m Kfe.f m PHIH . . I 1 ., n. iniuiw Drexel paMfafc Ml - - " - ' 'V. !'.. ? j nw.i t ' . a. .isT ii mmmf ""JJffiffiU WW i .. J? .... . - .. i.'JMff.HJ y.w.n3,vg,n ';i.i ',' ..:mh:: mmMM
Significant historical Pennsylvania newspapers