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EVENING PUBLIC1 LEDGER PHILADELPHIA. THUKSDAY, OCTOBER 19, 1922
24
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IRREGULAR ION
E
NEW YORK BOND TRANSACTIONS
I
LANCAS
I
ER SHOW
Ti
0 CURB TRADING
Jtr ,ir.' !
n.?n ijt
Freer Offerings Send National
Biscuit Off Mines Quiet
and Unchanged
Htm Yerk. (u
tt fleveiepe., " n
1!i - The ( nth mar- !
irrejM'er tin" offer ' '
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I..I...RTV HONO AND VICTORY NOTES
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OPENED BY EDISON
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100 30
Splendid Way te Educate Pub
lic, He Tells Visitors te First
! Electrical Exhibit
tht enfnlf.' kiOi frcf-r fifTn-lncs ( N."
fJentl llifiiii. wlifn IrviH. wi.f.,i
TidHdl ', fill" (t!M-iP Hnfftv
Rf.er nilmtipeii in i' ti"!'"1" titslt
of 2AT 'nfiuin ii'. f"r filnnrinc
25 point te li".". ,pihm1 in ""l
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rllnul n p'l'nl ltr.;r al '! 'an.i(l.i
aclrsncd n p'unt i
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bout uM'hati'.'dl i
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rem.KiN iie.M-4
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i .-anrjwtrr. Fa., Oct 10 Character-
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l'OO Cur r.'rh
400 ('" rra I
TOO Ce iirnbia y.i'j (1
100 Cen" I i P' I '3
'em iri-'i-i :'i
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fO IJ'irun M'i
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400 lVdar.i "7 T
me nt: lv.f . t.
10 Kusrri.rra i
ynfl I.tirr 2'.
100 Mica ' 1 t'
ICO :if't.!l M .'era
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40t !rr.B-rli ' ' i
J"t 1dm- H !.'
200 I.'r'e!'. Mo'ek
IB N Jan 7 t
90 I'lcktr.l i'r-
10 PcU"i M-"' r
100 Ph p I'lir
MC'i nft-lie cm .
000 lua.i E'
ICO Sen") 'a, s' m
00 Hev.n rJi A I""
100 eiarOsr'l itj
200 !t.j'.f J'i' i
TOO Sw.ft Ir.'a
14R Tte". ) j
tpn I' ! '. f. '
1H0 fi :". fi" ' r0
100 W ji n ( .
4tO tta T' I i Va ,
100 N V A H-a- if
IflA 1'r.rr, Hail
JOO Ht ' h---'- K di !!', 10',
100 h'a-Ki liaa k K l? l',La !"'
00 Tai'illrmer it a 2"
f.OU V. i. hr Ite' .-a i'1, VS
STANDARI) OII.
',0 An A- "
20 Imp u.. ' r
10 Ird.r.j P t"
fO Oh''j '
10 I'rmr'a " A '.
3S ("mTa IT'
10 Hmi'n P "
M40O S f In.;
STO S 111! S T
900 H i i.i .S 1 ' i 49
520 Variium ' "i.
1100 Vac i ill 'i -"
4U(01I !' !''
10 N Y Inn 174
1700 Stand ' i s I a- 41
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1000 Aatr.a oil 30i-
200 Aicai, 1 ",
TOOO Aillld 'i. 4i"
100 Xm Fvi P'" 1 'i
10liOle,' li' 10'
a;oe ii(.' w ie"
1100 Or. h fc.'J Of,
40 (U U" -"
200 Clt H H ( aes
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100 fca A J P'i' a
700 f.rfe.", "jrl ."a
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1800 F'.al ' ".
ic) KmiKi.ni I,
100 (HLPard fi. IS
14O0 (Jlr.rii' " 1 .
IVi'O (irarada " 3 .
lHO'i Hudiin . 1".
SycO Ini Pa-f. 23
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100 IClixy pai . '
1700 fin f Oi' Pa " a
R3 Mnrie la 21 '
300 Mtinme'li t
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lu'i i.,iiant' . P' 1
IOO I.icr.n Pa'a '1
200 Iara. alfce 'i . li',
SVO-MananJ M'i 4'.
300 Alerrr.t Ol,
S100 i-i..e Oil 1 a
0l)iIOTjn Fr'v'l !"
MOOJfut... . rii" . :
200 N r 0 J i '"
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(tO.'.'i r Ml i.a-'l
1004 riei "iifn
10i,0 Net hi
11100 Omar Ol
100 Porr.eca O .
kOO Call 'Its. I re.l
100 Ha ' 'Ti '.r.i
130O tapulra Rif
200 8itt)erl
12C0 iihfil L'n v I.'-.
1100 Hlmira Pt 1'.
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a "iplfr.'lld wnv te ednrntp anil In
Mruet the public," Thetaii A. Hdisen
efflfially epnd the ethlbltien In the
Arcade Garage jenterday nfternoen. ,
peakinir erer Iho telonhnne frnm lila
'' 1l1i.ni... ).. tS.... it'' .'
d.Mai.r Oil ""'Yni"i.i in "Fi urnnRP. .. .i.
i'e ti ii I, lhe ihm-ms" was amplified and w
i . lest, ' heard dltlnctl.v b.r th heti?and vlalf.
v. Ed. ion 7 er.a who paused at the Mgnnl and re-
: .. KOS mained tilent n-liiln Mr FHIann ,.
A i 1 rar, Hwtn 41 ii hlffh flesren nt .,.. n. n u
t -, - ' "" .4. I A.PPe. P"ldcnt of Franklin and Mar-
no " 744 frn" V0,rB'. exprwaed bl thank nver
s y ... , . ;5 I the telephone en behalf if the city for
07-. Tri c.ty n: 1 ,be greeting from Sir. KtHsen.
. i.7'. I.'sht :
07 , 7. 109 Fire lhreAlpne.1 the t,ncln.. ...,t
i '.! sm a s r,T.'r' 'p., ci & f T:P'1!-n,'J .'"Mterclar when a storehouse
s a pa, . p '. V-ViJ; a ' .' oe-a ' '? r,ar of A, " ' department
i -.....,.., a,iC iiitiuiri.
U'.-ead from the Moreheuc te the barn
if .Jehn Seldemridge. which wa de
trove.! The fence runnlnj alone the
alley ua burned and the rear of the
I.phrata Review hilildint; and William
Leber s Ftnre were damaRed. A lir.uk
am). ladder wajen of the Hphrata Fire
Cempanv n: deatreyed The le'u i
eitimaifd at nmre than $."0,000.
After a fne-day teareh, which ex
tended te every city In Entern Penn
sylvania. Hie local authorities have
announced they had been unable te line
any due te the whereabouts of Mm,
Dorethy Ebv. wife of Cbarlen Ebv. of
Spring Garden, who illsnnni.nre,! 'r..
.. in1, .her home early Saturday morning fol fel
,..";'. Mewing h quarrel with her husband.
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in 1
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i.i rf." fcr.t 'iRvilntlvn preferred
-'":.. i : th" Autuf-ar t.'e.'npnr.t n: .'10-'
ptr hl.are iel'l T.H per i'.v
'l"h. ."Mfi.igi pr f ff tli. ''tfi.tv
active ,).,i .'rial', ij'clin'd 0 t',fi ppr r-t."
jeati-rdfn ie ln'J and lhe ttwn'v rft , . -I'
0'.' d' .ll'll i."i) iiet (-it '. '.'2 s."5.
- J",arni. 7 f 're ( mr n' "i, '"in
f'eir.pany nr" .r.'ii-r'-toed t.i r .nt.irz
n. a re'e uli'f.'i will 'lie n te. tid 'J1
:i 1 1 are ..n 'h" i.iii.rm -",f.: :.,r IJiJ'J.
S'-nrs. K'.i !''. l'i.iniain 'Vk f-r "l.
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1-- ! i f .s"l I iflO H'i"
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4000 Tfjn U ii 1. 4.
1K0O Turniiri 1 '
iOOO tVlir.,, f. ",.
000 Y O.i 1!'.
IIIM.Mi
00 Alaakl D'lt l.'el 24
4)000 Ilal'har Kit 1'
IOOO nie I.d k'
1000 lifiitf r I ."i'.l 13'
1300 U'ja'.m Men' f'er u2;
100 fan.. 'ie i op-' 2i
JIOOO f'anaa a-! Mm 4''
1(200 Clna f jp M.n l
100 eii'Z .s.lt.r 1 '
100 f'rm n 'I'i d 1 i
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IOOO El Hi k'iii- '.'
20(10 r.mnt Silr 3.
IOOO Kertuna in
IOOO fJeldr.- rt Iia
IOOO fle.dr'ald 1- nial.ta 1.
A00O (Inldr.ild .'ilia 1 I
IOOO Hard Ski-) I '
200 Ilirli .'llnini 7S
20O llellmu'r 13
4000 lndatndant Iad 2Sr
2000 Knei !! di ''
1000 I)na h'ar f
1000 Diit'a .V Y 21'
lOOOfVuH Prevlr.fi I'
1M0 Cem I Minn 4".
160O I)au I'yni .".''
100 Drtdtn fj' d
000 finldna.d IJ.'P 7
JOOO Mernliitnn .'
901) N Y Perriplr '.'
8000 Htlwr 0'i i
1000 Pt Bl.d Ki 7.
SOOO MarS'alii i raic'ic i.
iOOO.Munh Mln 3'J
000 .Nat Tin - '
1110 .Niplaln "
IOOO Ohie I'epni i 3-.r
100 Ray 1 1 i en i
200 tin Am P i 'I 4 .
411)00 Hpeerhaml
IOO Timetmh H'lm'ii' I'.
10110 Toneiull I'llfl 74
llei) Ti.riiM'ati l'.it .1 i
lilt) Trinity i.uv I.
JOOO 'Irl-Hiilll'.ii "
fleO Tueliinin S4
1100 Villi i Oe.it 4 a
1100 Vnllail F.ji'tii I .
1100 Waal Ri.'l ' r. 1 .',
SOO Yuken i.e.l !i
IIIIMi.S
1000 Am U li Oi en
KllOd Am Itrl, 1' lil il.
7U01I A 111 l. in I op Ol
JaOOO All Am Hi. 7',.
DOOD Armour i'e "a
2000 At 'i A W I Sa
4000 Hrlli M 7a BS
JOOO I'lin "a II h.u 7a
200O Can .S It K.'l Si
2000 ( an l'a- Hi
2000 i ni Hi l-
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1000 tiillf I'll 7a I03 108
1000 Ilmali") C 1 a ini', lis
IllOO Jltiert HilhOer 7a 1IIIS 1411
7000 Intir n T ci fa H7S H7
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1000 Kkll llx Ill I'O
IOOO Kemiarnll 1' 7 l"4',
O0n Kli'K" ''' I ' O'i" lei4
100(1 l.ail'ile Una "a US
IOOO Multileba I'"' 7 HI'1.
11000 I.rhlih Pr il mi'.
40OO Penn J' L. ."' l'-"a
11000 Hhaff Kaiina (14 U'OS
lOnoe N'ni Ann 74 b ii
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7 S7
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1 im. 1, r. i.i 1 Pi
H li((i, C I Y 4". " 7 1"
8 ion 4 .". I'O . 2u
1 100s f I '"I 1 '"
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IV 11 I'.i ' ' 44
i 1..S 1 'us if
Ila'i ad I i.ufi. Clav 1 in lit
' t h l-i I.eu'i 'li
I 1 '34 S 'I 2 s-, I.
llarnail ,1 urp i f e A h 4',i 1. a
1 in I "7S S (.',
; I1-.4 Cn-n (..war KuiUen U il..
p"r ' t.' tj'. itt
A H H.-r
' ' ui "! : N "
i.iii.i-! 1 p i
p .'I '1 s "i'l ' .1
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- Fire KM. i.r. n. Iren. i ir. thi co'.ii-
trv ii'il.nei t'fcrlj S."i."i 11 n l'.i2! .
e'--f,fi;n;..'ir( 'I .'!. l'.C" I!.'.'") '1 l'""
!(' i'i I'.'LM. totaled .s7.."sft.0H,
.'20.1 sii"i .'im iiCmi :n 1 J2
- TI." T'n.'fl S'Htes Rubbf. Company
!s Hilled for redemption pi! the .lj.
(ii O't) 7 ffr ( cut fiti'-year j!n'd tmtea,
dut'-d .Veteirc.ir ti. Id1.1. Tl.ey will re
paid en iJe'fiiit'r 1. 3lnn Iii'ti.; will
1 a.ae
-ll, Int'rr.at nr . .alt f'.'rf.ft:-. and
n.tii-idiiirifs f. : "ii.. ninrt'r ended Sep
terrber .'ii) al.'.-. i.'irn.nK fi ."1'! ."')')
after all n,i.ii. Af'er fiedieti'n of
.!i!i IJii f.ir ii".. il.uives fiii'i s.nkini;
find ; e r ,i "ii." t';. .a 117 l.V.i,
h'lbjirt 'ii K'-eeral tlirfi.
H 'I I'e t? A. 1 .. ( .'.itl)! Truit
i''i,.;,m f.f Iilmis ini! Huri.ijlftf ii A.
Ce 11; i. -fil.l SJ "i'H'.icil'i ii vlif ( ai. rn
(1.1- f.nd El'cti.i' Cuinpaiiy sjfneruli
mer'.i'je 1; ji.f 1 1 r.t fold bend', ila'd '
Nevi-iiiIji r 1. liiiJ, due November 1.'
i'.i."" p l"i te ti" 1 (i 7." per fTi"
-'1 1 : rit.ifi.rii'.i. : plnn of Au.e'l
'fii 1 i,!ci. Ci,ri. ii iv ifien tt 1 1 l,i. i.n-
:i f 1 i'nitr.-f . n beliet.-d .11 r
11. i ... ii, ;,.. ii. u. p. mt - iff,, -.
M'.i" inui' !)0 per '"Hi of th" ii'iic- Lut.-I.i-iii
'life-.'rii iii.d th.. time for tl.-r
''" " 1 ' - li" 11 ' X'i ii'.nl u'l I. '
C,irif 'Ilia (if it" K Jl'lll'.ll' Il fall ,', !
S'l. I I'., int.) fur 'I'i. iii;ir'(-r 1: n
S-eptei.'lfl .'i'i. Iliat, !'-lif"(l .11 .1 1 . ;..
(if .i;- i"i7i! e'tii tii xi iiii'l 1 ..1 rtri -len.pared
wl'li 11 i.et profit .! S-i; 'l-u
the preie(i,r.K (..r.rter and n d' i' " . f
SI .'iil )!0 for tin- tliird i inr'.i it
lila!!
li '1 t ' eri hm f 'tnlilishfl -it r ...
iferds 1, 1 ... "ini or of fu ,i,' , ,s' i ,.
itieku ihi in 7i ' ii'.i" c.iis "i,i 1...,
b'tu-( '1 .' r" 11 if l.'i HOn sii'.p'i."', ,1
'"'. L'OO ji.'.n ti.un .In1' 1 Ii ( .
'.us 11,. ii(,t 11 i(i 7 per c ir (,- .'; I-.
iiti" .ver il.uti -I'llt I. .Si.irt j, 1 ,, v
ci'lilillii'M '.I' "'id l.u beili 11 iit((1
- mm Mi'ddnrs nt th" Ann r .11 Mi m
i.i I J- . . rut 1 Cn'iipuii) Im'." 'iiii . .
11 1 U-" In ,1 itiiiiiled (ii, 'ei '(, , 1 1
10 ODD 000 fiem .L'.ntjU ijiiii It
'lull i,f Ml, ('00 Hl.llIf'H Ol llii I'j
(if tr.1- II lit I)" llaC( (Ol II h'O I l, .-
(Ivlnl . 'hirib'itien, but til" 'Oiuiaw ;.j-
'iti',11 in prffiiit 1,1 fjf7irwi'
in t i-' u" for 1 :imI'
I.011I011 Eli-i trie i,ilttuv ,s (,f.
AJ 'J.'O.OOd ie 'I'.., i"' 1 1 r.t ri-
end il' hi in u.-e -( . k of
1 iin'l n i'ii l.'.i.'i. 1 1
0 Ml 'a 4 KSS
N Pac ': P. 0 I lOiS 1 . a
3 'ns', Slrclal- C Oil 1 SS, '
C-'sifi l.isa Cerp n 74 0 .:, 1
a-'iar d Ii 1 lf'1 ' 'si, I
1 10.34 Sineial- f'-idi . fs.
ib'r 7i
102 4 1
f"S V S RJb 7'4a I
'"a 107",
4 al", Slrxlalr lire 107",
s!. Line Ce ... 107".
C 1 Mas! 7 4 '.1 . !'' Vn'ted Statea
fi 21 1 1 e...,i ss
4 '.is a 1.3 -,-, me),
OS'- ' Hell Ta-i Si 10 1024
O'U nei s 4 CO', 1 102'.
1 '.""4 Se'n Pecfl" li 1 102
ri'.f.c Gas A 1 . S7S .'las. Pewar A
!; 5 n Pa; ct 4 i.'ir.t Si
::. 02'i 1 j;
1 02 4 Va-C Chm 1 ! '
20 . c:s ; 100S
t'.'S fa-C Ch ci 71 1
S'n Pac 11 4r n f.7'
1 '7. 4 07S I
1 73 Vn-C Ch 74 b
2 . " 1 . !'7", ,
1 (-7S Va-C Chm rv '
. .7S rii, war'rt
''.. 7. f.- 1 t.i,
!'--. P. H Sa 1" 74 1. t'O'v 1
7 1'''. ''uih Pcrte II Va Rwy Ce si '
P'r'i R i;-as 5i;Ba' 7a 2 . . lis
2 .. "." 2- "Oil, 1 . PSi,
3 110 1 .''IS 3 . t'SI,
'. . -H', 1 lUll'tav 4a j jisi,
' 1 0 ' ''" Vr ft ." XV lit
P'rlKA P. - 7' 7n 2 (,;
3 ;".-. I" ... rtii, t3"arr.r fuear
PI 'ii a fir. I" eni, n,f, f,g
pir.v .i .. Fi Railwnv 1 1 ... 104
"'11 a 07 Wabnh It HI
O - Sn Rail'" O'ii i,t El
Exclusive RepreMntativ'e
Wantad f'r rhllidflphli ind Tlclnltr
Archlf-li and RilMera. Muit be able
te "d blue-rrlnli lyid () ejreu
,.'I ."tL'U. ,0. emjiley euberdlnatn.
About J20O0 cip'.t.xl rfqulrfd. Te aurli
J.S5.n.,',r'r an opportunity te mske
J50"0-I10,000 i,r annum Htate cfttill.
tlritlcna. and If e. K . tvp trllT nr.
ransf for Philadelphia Interrlaw.
C 118. LEDQER Ol'nCE
3 !1
: 03
Pnc.'r Ta. A
Tf. ti S
1 f24
1 02S
1 02 .
r It en 44
f.t'4
Pa R r-n 44 a
BUILDERS OF
Special Machinery
General Machine Werk
J. & G. RICH COMPANY
122 N. Sixth Streat
Telephone 1 Merkrt 2081
36 Pages
of Useful Bend
Information
THE experienced as well as the
beginning bend buyer will
find it valuable te have at hand a
copy of our booklet, "BONDS
Questions Answered; Terms De
fined." This book provides a digest of
information which might other
wise be gained only from bread
experience or wide reading con
cerned with investments.
It is indexed for ready reference
and covers questions which long
observation has shown most fre
quently present themselves te
investors when selecting or hand
ling their bend investments.
Nen-technical definitions of
commonly used bend terms are
included.
We shall welcome the oppor
tunity te place this booklet in the
hands of any one te whom it may
be useful.
Write for Booklet PA-73
for Example
"What Advantages Have Bends
as Compared te
1. Stocks?
2. Mortgages?
3. Bank Deposits?"
"What Bends Are Best Suited te
the Investment ei
1. Trust Funds?
2. Business Reserves?
3. Individual Funds?"
"Ii All Your Bends Are Sale,
Why De Seme Yield 4 and
Others 7?"
"Is there Any Advantage in
Buying Bends Which Are
Listed en the Exchanges?"
"Is It Advisable te Register
Bends?"
"HowAreBendYieldsFicuredr
"Hew and te What Extent Can
a Bondholder Berrow Meney,
Using HisBends as Security?"
"Hew Can I Adept aad Adhere
te a Systematic Investment
Plan?"
a
:
HALSEY, STUART O OO.
; Plane lend copy of Boek! PA-73
: "BONDS Ouetrdrai AntweMtf t Tpm :
: Defined" 5
&Camt.
iiiiiiiniiii
IIIIIMIII1IIII,,,
5rcrf
a. nun aaaa mill mil,
t yJfy aaaa aaaaaaimaaaiaa.i.iii a
! t
MMMItfflrtlltlftfltttMt)ftltMtttMffl
HALSEY, STUART & CO
INCORPORATPD
INCORPORATED
Lund Title BIdp., Philadelphia - Phene Locust 7410
1
CHICAGO
DETROIT
NEW YORK
MILWAUKEE
PHILADELPHIA
MINNEAPOLIS
BOSTON
ST. LOUIS
n i'r
B li
P. A
1
1
1
1
1
1
1
1
4
.3
10
102",
I'll'.
103
Ml
102S
102',
PS',
Wt'n ild 4i
3 HIS
W I) N T & P
n h w
ioe
1024 Waitlniha'e, ti
r .b ?rv Cnrr I '024 A Stf 7i
N Jeriay Ss 4 102S 1 . . 10s
'7 .3 1024 3 . . K'7'4
1 7 10 102'. W 4 L. E 44
V.r-i A'.rre S R Mr.Hle A 1... COS
Si Ce 7i Ohie r tf la xvilien Cem-
S 107 0 7s'j rany cv Oa
3 I'O K-hnde'il M.l- 2 . . t'SH
!"1 Ir aj co S ie fiji,
Pai rr '" li 7 ..00 v.ilaen Coin-
IS ( 7 00 jar.y lit Oi
Hi..', re r it, F'ar.'l'c! Oil uf 1 . 101
. 10l. Ctllf 7a Wlnchiiter II
. . 3 . . . 103 , Arm a C 74"
1 105S 1 . 102S
$1,000,000
The Autecar Company
8 Cumulative Preferred Stock
Dividend! payable quarterly. March 15, June 15, September 15 and December 15
Preferred as te Assets find as te 8Te Cumulative Dividends
Subject te Call at 115 nnd Accumulated Dividends
Application will be made in due course te lilt this issue en tht)
New Yerk and Philadelphia Stock Exchanges
FRFX OF PENNSYLVANIA STATE TAX AND PRESENT NORMAL FEDERAL INCOME TAX
LONDON STOCK MARKET
Traders Cautious Oils Steadier.
Dellar Descriptions Irregular
Iionden. Oct. U. Tiadein ir. serurl-'.'-
"ii tlic Meck ej( liiiligf. inoreeded
.t. i.'i '.dii tediiy owing te the do de
ii i .' enl Mtiiutlen nnd finel set-
mi.. i.' ad) i-tiiifiitH. The innikeis ceil,
i ni . i.i. i ci itendiiieif.. Oil M.nres be
'iiii.i. '".'iilicr ffilletvlnj; ii K'tback.
It",. iJ.tch tfiM 'IS,, Slifll Trnnt-pert
nnd 'Irnd.ng, I . 1-1(1, ar.d Mexican
K.iii.'h. !;
ilmri" mils were finner but ihnngCB
i'i iMiietv. Iiellnr d'-i riptiOiiH were
.rtfRilnr, I, it lower in til" main, profit
'a. i a i"d te i-eiictieiis in Aritentine
in. i- Al'i ni'i'Jlis in th" gilt-idged list
mi" rnirniw mid mixed I'renrh leanu
v ere lunv In ayinjintliy tilth I'arls.
Ie .riduMrlul. kjiu" lueH were
f I.i ei i'.l IIiiilum'H Hay nm 8i,i
ll'ii' .tin inade iiibher1- irresnlur.
lus Miiti.red. but were iiiiet.
Knf-
LIVESTOCK QUOTATIONS
eji.
ie:
V'ir'l, ri
: 1
l it
l-I .1 I 4'
l'n fii
I a', ,
i ml
I ir
MT
3
i'IJ
Id
HTli
i 00(1)1 Nat l.nnth.r 8 H.IS 1014 lnIS
TOOON" 3" N II II 7h K.",i. S3 1.3'.
11000 Phil J'CI 74 li2 Hi-' IO
1000 Iul hn N J 7 03, 10.3, 1034.
5000 Hi-urn llii.li 7a 23 U'l'. Iei . Kill.
1000 H IV I all "i I'M !"-' I0H
IOOO 8 O N V 7a 30 Kill 1 OH 1U0
IfOOOHrvlft I'D 3a 07 lie.', imt.
JlWUrwiu i.. i. .ii i". i i'i-i lu.--,
OOUTIdnl Uiase 7a 1084 ID.14 lOIH,
"ii .
Mi',
fu
r.in,
Mi'i
Iliulaeii .t. .Man
f-i Ci
IjOei) ttnli'ii en Cui i 102
itiwu rn111.11 u 1 in "a "-,
(100 Valnirlti.. 7a 101 ,
000 Vacuum Oil 7a 11)7
rilRRKiN I10NDS
11000 Artantlna 7" 1001,
tOOO Kin ef Nlh J" OftU
toot) Klmc e( nsrtii . J'
lISeON Y N 11 II I'r 7s TI
' 14M0 Huialan '14 ctfi U
. 141 SO Hwln llevl i'i a 104'4
06 U B Mx 41 a".
1 ou
004
1014
107
1II2H
nut,
lei,
107
IfiO'i 10OH
04 04V
KS'i hH
TO'i 71
W II
10411 !
at 31
. '.lf pajnii..!!-
,R SILVER
sllt'ir ,)r.3 unrhinatfl in
al Ii'ie uar nn iwn,
111.31, -I j ,
llal, I HViiiien. Ccn A ( 1 nl ( e
r,f pa 7a of MJ ia
1 HIS'. 1 01',
li flail I'l "i 1 Id
1 074 Criinn 'Vi i
II. tli h'fil Hi i'aal la
1 IO0S 1 f.f.',
I 1004 I 'i'l
1 IOO', CumL .t 31 A
1 10OS I'l ''
liku linn i' 7 r, ei1,
a HJ4 D.i i )I r.i,a
Durrani iiech'r I 101 S ,,,
I fill! 111. flan M. 11 (1 I.. Il'llll'i
4 03l 3 3'i
1 03 4, fin f.n
Hum I .till f'l 4 SO
1 U3H D.n It l ti J,
Canail n N'hn 1 W',' f,
04 a ra'a Hl"y C'.fr 7a
1 1'3 f. 1111',
Car.adl n N 7i I H.14 l'1"
1 113'. Ol" l.di 61 40 'U 7'.
Cina 11 Tar ti 1 B7'H H' fan 4 " I
13 M r. 074, u hi "a
7 SO D.t Ildl Ce i' 4 t.4i,
i 70. 4 104 10 M,
Cn Dlit I' 3a I).t I It 4 4' II" n 4a 3.1
1 OOS I 12 S3H hlv.
Cll I.Hihir n.) Mitch 74 1, kl'.i
I
in
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1:1 vj. .v
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1 ml ii hf n ten. huh k of IJMJ-T'J
I'liitrul l.iitiilen 1." 000 !'i l'j
1 "ht i"ii""iiinbli: di'liMit ui 1 ' l!li;
'I'l lilllK'll leiile lit li" li '.).',
('I,,!" i'iiiier If tln (.in- "iirrinni
Wll f II, It lltlll h lliatuii'i , 1.1
l!ll 1 Wl 'I'll" il "-I III lll'.'M f i ,
I .' 1 III . Ill f'X' I'M I'f Hi llllll.llll'l , , n.i
1 1, "iii 'i 'in 111 r '"HI beti"id ' 11. 'im
IIM'IIU. i. filjO IMHI lili'llllis ii.r.i, ,,l'. Il
11 n.i mii 1 1 1.1 f ."IKI (Mill Mid j,,, ,
11 no i.i1 v for I'lillc tc tint n ri .11 jn, -i,,..
I I '( I I 'lilltle'IH 1 ll( 1,-1 ll fi. 1 -
ilfii.i.j; I" ln.'iil' "t III" i.ii"1!1 1 .,"i
liUliiiin nf 100. (Hid hhuri- 1,'' ( lnna .
He It i.i in. I'll!' iiiliH1 "f li.' Ni 1 ';
Mr lii'ilie I 'iiiiiiiuin Tli" isv 1 k .
ir.'l i" ai'iiMiililn' ui '"i'i iir -1, j i
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in mi'l "h 1 ci ("III of Hi" Mi.' i 11
l.il-in I.i lip'M'iit linld"!-1 'II haul I
h'llliliia. 11 l'l'ilij," nffi'iid til ."i ,ir
1I1I11 '
Si'i'i'inri Mi'llen, In 11 "lii'ftrieiit,
lllIK 111 ll III Kill nt HlVl-l'lll- 1 ,,
'rrciiiiir.t s defihlmi in 1 nn t, ii,M nj,.
liens IninlU Sntiildii) In tin ii"w Imi"
(if llilit) -leiir (inii'iiiiiii'iii I'i ,i 1 ,ii,t
LiiikIh 'lb" benl.M luiti' li"i 1. l-i.,i i, ,
mi i'XIiii v.cil; In iii'iiini a-iilji-i a:Tn-rH te
the hull -billien-diillm !--u- In 1 n I, n,(;,.
Vlrli'tt linleh Ol' Tll'll-un "ll.ti, ,li,
fill I In- In 11 bowl"
Thi' l-iiinii'iH I'liiti i. I a k . ('.,i,.
II'.IOII, III ltd tilllllll l.'ll l-'lltl'llillit IIH ,,f
Sf. limber .'SO i'iiiilK i.i li , ,,,nhM
HiniiiiiHlllK In $- 100 000 vvlni,. ,,;
beirnuliiKi wvrn $'-',700,000 Unririif
ini' .ix 1111111111K I'liurii ,111111' mi tn cum.
( liiugn
1. '" ' 1.
I a"
a k.i i
mr
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h 1
10 I'ATTI.i: Ilfcilpta.
Vl'ul LP I" a'.at.'l IO 2CiC
r UHkfl k'f li.r.'il.v ai.adv te
, he ' " line prime )iatlifl
ini'ur.itlie a.ur. e inrly top
a'lrnl Laif htarra 11K 33 n .mi. hi'hl htlh
. : aarl lop lunic veurllrH", 113. OulK tett
a' mi of ijiiiilie and cueiUtl'.f, in f.U ftt
),i". U'- itiril of IVf'Hi.rn riiara falrlv
' ,i n, . i.Ja ni a n r !e 73 a.veral
... i I'.r.'n r.i 'i .UeritLiria 'u ftilnr huveri.
1 10 ncrnutil i-KKilallv iu'ltf. f(ir helfara,
i . K irulera ie rmfl.r. Hinund III SO. fw
a. a 'lena i i n iiiilclera upward te 112.00;
L . k teh.ir.u unlit ureunil 14 2." ImlU bf
- lu.d talfern 14 si. ft 7 Of. hulk ateckera
..i.u frr. 0 .10 51 7 30
ll'i'js Hi. Kits .'7 oeo heid lierly mir
, in I ii,'rii.r ineaii) i.j Hi.niif'rM nnd ird
'.,"m i i k 170 I .nil iK.ind ier8ei
i'i in tin "i uu k I in '.j 150 iifiund tr-ma-
I'i I". V li .10 ,u..(l nod chulce 210 te
Ami imuii'l l,u tn.ri 311(101103 mr. SO ;0.
I iia.klnir mi life H Ah dfallrttilu.PUi
ui'nr, i I'i -, em. lhlieH70 midluin.
I'i 3114 0 7" llajIT t'l ir.ifll 00 nsht lIKht
'i I'.'ji. '.'. im in: ii "102th. " I"
l(i 7" urU.nw .". reuih. J7.B01JHln
a HIT IlH" IS tlllt'l' -3 , . ,
MILUI- liid'iiia 26.000 head Fit
,i ., 'm i iiii.i,!, ai.n'.y ie itrentr 'ir'1y. ,0.P
iii.ih 114 50 tu , ty butcharn. J1J 40 te
ii'iaii. lu.k in ie 114.48: culii in oeo
r. ".'. ei,l fni I lahe lamba 114 10. eth.r
i .l.,.u .n..,.i.i .... .i.riv ani.a fe.clcra. fif-
s r.i., 71 i.ein.) f. .1 W.ai.rn Inmha, 114 Oil,
Uniri. irt ' m ftierHirinif " i''""
We summarize as fellows from a letter of David S. Ludlum, Etq., President of the Company-
CAPITALIZATION Aueust 15, 1922
Firat Mortgage Tc Bends, due 1037.
8 Cumulative Preferred Stock
Common Stock
Autherised
$3,500,000
7-5,000,000
10,000,000
Outstanding
'$2,600,000
6,072,800
'.(12.000 alnre r.tlrril 1T nctlnn nf the alnklnx fund. '
S'l. 133,000 rrarriisl for lontrralen of 1VM Merlnaie Henda.
THE COMPANY was incorporated in Pennsylvania in 1899 and is engaged in the
manufacture and sale of commercial automobile truck of lUj te 6 teni capacity. Over
90 of the Company's output is old direct te customers through its branch sales and
service stations which arc located in 35 cities. Over 29,000 Autecar trucks are in use by
mere than 10,000 owners. The annual net factory sales have grown from $1,017,052
in 1909 te $9,373,4S0 in 1921.
PROPERTY: The main plant of the Company at Ardmore, Pa., was appraised by Day
& Zimmermann, Inc.. as of April 19, 1922, upon the basis of reproduction cost, less
depreciation, at $3,499,275. This plant is subject te the First Mortgage Sinking Fund
7 Geld Bends of which there are new outstanding $2,438,000.
In addition, the Company or its subsidiaries own additional property at Ardmore and
sales and service statiens'having an aggregate valuation of $1,287,624, subject te mort
gages outstanding in the amount of $403,500.
NET EARNINGS for seven years ending December 31, 1921. after deducting all interest,
depreciation and inventory adjustments, and the net less of $635,000 during 1921, but
before Federal taxes, were $3,850,847
LeB9 Federal taxes, including Excess Profit taxes 1,025,674
a). 1 1, s'iL'1 in Blreng. iieavv ii
14 ViiifiSU i Kfitfr wntKnt" up te
f
1. i
.. a,
I'lllal.urxli. (ul 10 - IIUH,T,C,nP''
.ViOj Mud l.er ll.allea .10010 1.1
nKi i.i..f ImW emera and Hit" 11020
ll I" 30 .,.. enn
, h IIKL AM) I.A.MIIM ".V.ltR
I.I-.IH HIiUil) l'h.-.'l, 17 60 lmfca). tin
i AI.VKS -ll.iH.iin 100 hfd. HlMhar.
I fu, 114
It ,,i, mr, h.d Talrlv ,. e,"",,?"'1
I-".,. I. ("".. rn'-ipta. 260 h.i'l hCtlve,
11 1,11tlF! ',43 IB . . -,!, 1fl.
I lim; II, .liiis 20'iu hend Aclli'" low
21, i,iKh., ii.ui lfllef'l mixed yerk-
' i ' i icra mni inn" i" "i .- ..-
'"aMIjir- .."''iVl.AMIIH- Itfceiplfi. 00 1'1.
A, i all 25 higher I.jrnua. II1 10.23.
1 0Siv,a.7
astral Pacifl: Wt H.c
JfrJ M fcerp'n
M'i'' T14 B,itl,
C.nti
Alt
lillaui
107
curlty
Be
St
, imiiy cnriieil net pielllH of mere thuti
1 S'-'.OOO.OOO, After tlrclimt liie rbnrL.n
1.... leiH rcferveM mid ether Items. Hii H vw
,,. Witt l en annunl rate of Jyaffnv.viaOii
Ilia Cfn'l M
l . iei
French Bank Statement
1'nrla (),t 10 --The weekly '','".'"',"'
HjnM i rrante. eniiw. ...- .-"-"I.a
I hi
fhuntaa in I mica
1 mi ii no aiit.r in
n
trea
,,i,i m hand. Inci.aa.
ha ml hcr.liad. 110.0?') i
.. - ii.h IIHT.IIIII1.
rlaa in tlrcuiauen nrrr.T ,,Ti ,,n . '.
eaury d.peilti Increiiad, i'''?,; ?,"
rl ilirniiia d.crtiia.e. bVT.V.' -ii .... US.
nirn nirr.a,.n. en
Mil
W Wti rW
$2,825,173
403,596
Yearly average available for dividends
The yearly average of $403,596 is equivalent te mere than five times the annual dividend
requirement en $1,000,000 tSr'f Preferred Stock.
NET CURRENT ASSETS, based upon the Company's Balance Sheet of June 30, 1922,
upon the issuance and sale of $1,000,000 Preferred Stock, will approximate $395 per share
and NET TANGIBLE ASSETS will approximate $520 per share.
EQUITY: The Preferred Stock is followed by $5,072,800 Common .Stock. Cash divi
dends of net less than lO'e upon the amount of C oinmen Stock then outstanding were
paid during each of the inc years ended December 31, 1920. 3',e was paid during 1921.
PRESENT POSITION OF COMPANY. The first nine months of the current year have
been en a profitable basis, and, based upon the orders en the Company's books, the
remaining three months premise te be satisfactory.
77i books of the Company have been regularly audited by Messrs. Lybrand, Hots Bres. & Montgomery
snce 1911. ' '
Legalities in connection with this issue of Preferrel Stock have been approved bu Metir ;e
Pepper, liedine & Stokes, ami J Heward Rcber, Ksq., Counsel for the Company, and MesJri'
Roberts, Montgomery & McKeshan, Counsel for the Bankers. Messrs.
Subject te sale we offer the unsold balance of the above issue
Price $102 per Share te Yield 7.84
Dividend will accrue only from date of issuance of stock
Janney & Ce.
133-135 SOUTH FOURTH STREET
PHILADELPHIA
ui. .n...B..tieB 4 a... ...tunc. ir. .et nimBttfd.ftpi utT. b.,, ,blItned (l0m KWtt mt btUm
Mmfrfcjj
?,. -. . . ., ava is
a,. iiwj UneuUUndlpi
rrantil. 10,100,000
'1. -4t:i'r-;T',-,i t'nr
'tiwmw!:
m