m raw A5 sav jr w.uv EVENING PUBLIC LEDGER PHILADELPHIA, MONDAY. OCTOBER 30, 1922 U 77 04LF NOVELETTE FIRST ANNIVERSARY STATEMENT OF THE Metropolitan Trust Ce. Of Philadelphia N. W. Cor. 18th and Market Sts. Stattment at the Clese of Business October 24, 1922 RESOURCES Leans and Investments $1,944,856.19 Real Estate 76,949.25 Vault 29,206.00 Furniture and Fixtures 32,637.16 Cash en Hand and in Banks . 410,992.78 Accrued Interest 1,192.84 $2,495,834.22 LIABILITIES Capital $500,000.00 Surplus 50,000.00 Undivided Profit 32,100.27 Deposits 1.730,130.81 Bills Rediscounted 183,603.14 $2,495,834.22 OFFICERS FRANK H. TUFT. Pre.ident ALBERT M. GREENFIELD. Vice President JOHN WALTON. Vice President ALEX. L. SKILTON. Secretary FRED A. WERNER. Title Ofrccr junn w tiijL, i ice resxaeni FRED F. TURNER. Vice President WILMER S. BAUM, Treasurer WILLIAM S. PEACE, Solicitor WILLIAM T. BRYAN STUART W. BUCK WILLIAM R CHAPMAN. Jr. S. R. CONREY EDWARD H. CURK NORMAN H. HANNAH DIRECTORS JAMES E. MORONEY .! FRANH MeCALL CHARLES McDERMOTT JOHN J M,Gl IRK Much c. moere eucenc e. mcc WM S. PEACE. E.q. HENRY REEVES WILLIAM REINHARDT II T REYNOLDS SAMUEL S. THORNTON GEOROE F. UBER M H We Invite Your Account Check accounts, savings accounts, safe deposit boxes, title Insurance. Acts as executer, trustee, administrator, guardian, etc. m iaW ' ! IIMW1II1M1IIBIP tl SJ fH--f. . ...--., , Faith Clarkes Career By Jant Otbern TT WAS the first rim In Faith uinrsu n currer ns menwRrnyiier in tlm Onge Manufacturing Company that he tint! been Inte. Her umall purse hud slipped from hrr numbed fingers en her way from the Hlalr Street Heme te tlxs corner where she cub cub teuuirlly took th bin. She bad retrneed hvr step, but the rapidly falling miew bad hidden the plaee where it bad fallen. Se Faith Clarke went her way en feet, punching the time clock in the entrance te indicate a half hour's tardiness. As seen as she had taken her seat In the room where nine ether stenog steneg rnplicrn worked nnd hnd opened her typewriter de-k te begin transcribing notes from the dictation taken from mm of the falemen latvi the previous nfternoen, Faith was aware of the fact that something of unusual Interest wan in the air. "Hetter powder your nose and leek alive," said the girl at the next dvnk. "He's coming in this morning te leek us ever." "Just my luck," sighed the girl at the deik en the ether side, looking into the tiny mirror en the cover of her vanity case. "The snow get en my hair ami took out all the wave, and I've (jet en my eldet dreFB. I should worry 1" Kvcntually Faith Clarke picked to te to ircther the information that Themas tiHRe, Jr.. son of "the big besx," had nrrived. lle had previously had charge of the western plant of the concern, but had new come te assume control of the main ntlice nnd would need a prlvnte secretary, and had announced that he would' choese ene from the stenograph stenegraph era already employed. "He's coming te leek ns ever. Jim my overheard him telling Mr. Mills. Then he will pick out the one that he thinks leeks the best. It will mean thirty dollars a week te the girl that suit " 1'nith kent en with her work and rurcfully rolled a tdnet of letterhead paper Inte her typewriter. Apparently she was net especially interested. "It isn' likely he'il pick me," she said. "Oh. I don't knew," consoled the neiehber at the left. "You've cot a fine record. You've get mere speed than any of the ret of us and you're ter ribly nccurate. Thoe things count, though, of course, he's young and tine looking and will probably pick out a jrenil looker." Faith Clarke dghnd again and opened her notebook te begin the monotonous duj 'b work. Fur an hour little work was done. Tin' buzzing of voices was inreMnt, end there were frequent pauses In work ler powdering of iw-es and readjust ment of haimvis. Then a hus-h Mid- letilv fell en the room, for the deer had opened and Mr. Mills, office mantftt, with n tall keen-eyed stranger, en tered the room. Never hud the Stenographer's room of the Uage Manufacturing Company hummed with such Incessant clicking of the typewriters, nnd never before were ten heads bent in such keen attention te wetk, Mr, Mills and the stranger steed talking in subdued renes, but ob viously the btranscr was maklna nbser. vatiens. Then they left the room and the deer closed. Fer four or fi-a mln- k"jtled nr n V16 ,,r-1 wns concerned. utcs mere the typewriter keys buzzed lurteusiy aim then came a lull. "Gesh i" said the girl at Faith's left, S'Gce whhs!" said the ene at her right. "Isn't the suspense something aw ful?" said n girl across the room. "Hew seen de you think he'll let us knew?" After the neon lunch hour the girls took their places promptly. And then Melly Day, who has found the suspense se trying, was called te Mr. Gage's office. Hhe stepped in the dressing room for a careful reapplleatien of rouge nnd lipstick and went into the sanc tum with confidence gained thereby. "Honest, I wasn't a bit scared," she announced when she came back. I had my hair waved Instead of getting lunch when I was out nnd that kind of braced me up. Gesh, hut I'm hungdy new. though. Well, I'll treat you all when I get my thirty a week, girls." ihit presently a surprise came. Jimmy, the office boy came In with a messjige te Faith Clarke. She whb wanted in Mr. Gage's office, and she departed at once, without even looking in a mirror. Her threat-.was dry and her knees wre trembling. "Peer kid," said eue of the girls, "I sunnese he's looked un her reran!. but what geed does a record de when n girl doesn't keen up appearances? In spite of dry threat nnd trembling knees Faith Clark took a trial letter from Mr. uage with lightning rapidity nnii transcribed It in nit mdjeiuing ollice without a fault. She wultt'd while Mr. Gage read it ever. He was consulting her record for promptness and accuracy en a large pink card from the filing room. , "I think, Miss Clarke' he said that yen may consider yourself advanced te the position as my private secretary. It Is an advancement because it will mean thirty-fire dollars a week, and you are new, I bcllove, .getting eighteen. Of course this is te be confidential for a day or se." He paused te leek keenly Inte the delicately featured face of the girl who eat at the ether side of his desk. "I am sorry," Faith said slowly, "but I If you don't very much mind I'd rather net. I may have taken that letter quickly, but really I knew I wouldn't de nt nil. I'm very careless and I'd much rather stay in the ether room with eighteen n week." Mr. Uage saw that tlie matter was After all, she had a right te refuse the offer If she chose, and perhaps a girl se unambitieus as te wish te refuse such nn advancement would net make a geed secretary. Still, he had been at tracted te her the moment he entered the stenographers' room. It was only en the recommendation of Mr. Mills that he had tried the ether girl out first and had found her lacking in speed nnd accuracy, as well as in what Mr. Gage considered a suitable personality. 80 that was the end of that and Mr. Gage decided te put off for another day the cheesing of a prlvnte secretory. That crcnlng after close of the office he felt the need of exercise, and In spite of the dreary weather, with thawing snow of the morning underfoot and gray sky above he walked for several miles in the direction of the hotel that was his temporary abode. As he walked he could think of nothing but the case of Faith Plarttn Wlir luiil i.li Herllnpit lila offer? Why would any girl decline thirty-five dollars instead 01 eigntccn? .Mr. uage made up his mind te solve the problem. His meditations were suddenly in terrupted when his downcast eyes fell upon a small purse lying en the side walk, before, him. It was half covered with snow; apparently it had recently been exposed. Mr. Gage picked it up nnd opened it. I.t contained ?2.4." and a key attached te a wooden tag marked "lloem ninety-nine, Itlair Street neme." Mr. Gage asked the policeman at the next corner where the Hlalr Street Heme might be, and was directed te a benrding house for girls a few blocks nway. It was a dingy place inside nnd out, and the high unshaded gas lights In the hall did Tittle te dispel the outside 5 loom. Me asked the attendant at the eak whether she would take the purse, te which the attendant mechanically reached eat te a cumbersome electric press button and rang nine times and then nine times mere. "I're sent for ninety-nine," said the attendant wear ily, "I'd rather hare you glre it te her yourself." Mr. Uage sat waiting en a narrow uncomfortable black bench In the hall and presently, te his surprise appeared In the gloom Faith Clarke the girl about whom he had been think ing for the past half hour. . 'Are you nlncty-ulne?" he asked rising, and then, "I didn't expect te find you here, Miss Clarke, still I am very glad that I did." Explanation concerning the less ana finding of the purse were seen ever. Mr. Gage lingered, sitting there be be eide Miss Clarke in the dingy hall. He told her that he felt this n geed op portunity te try te persuade her te accept his offer. "I am quite sure you can de the work satisfactorily and I should think that the lncrense from eighteen te thtrty-five dollars n week would make up for the additional responsibility. That must be an induce ment." Faith Clark looked about .her and then .back at Mr. Gage. "Yeu see." she said, "this Is home te me. It's the only home I're known since I left my uncle In the country and that wasn't at all happy. It's a working girls' home the rule is that no girl earning mere than twenty dollars a week can live here. I left ene place becaused they raised my wages slat was when I went te Gage's 1 and SS don't you see what it means, te tut If I accept your preposition 1 would hare te leave this home. It would bmw my heart." "" Themas Oagt, Jr., felt eemitfcru very much like a lump tn his threaiLrf the thought of this dingy plsei! wtH Its odors of sanctity and peer coekS? could mean se much te any one. lli own home Ufa had been se hse-nsZ perhaps he, had never quite apprecitul '"Stilt, I'd like te de your work" Fnlth admitted. "It would be 10 SSi mere interesting. Would you let As de the work for the same salary?" Themas Gage looked perplexed, sni then suddenly he laughed a little and held nut bis hand. It's a go. MitZ Clarke. We'll make It twenty a wee? and they'll still let you stay here.'' ' It was there In that dingy hall that Thomes Gage made up his mind that be would probably wee Faith Clark as his wife. "A girl who loves home se much ns that," he assured himself! "ought te make a wonderful wife." Twe months later he asked her te marry him, and, of course, Faith aeT ccpted. It was then that she feuni that there was a little bank account te her credit, showing a weekly savin, of fifteen dollars a week. "It's yeni te de what you want with it," Mr Gage told her. "I'm going te alve It te the herae-. raeybe they could tuy a pleesantsr light for the front hall and get a comfetUift settee instead of that old black wit. nut bench." . SBBBBBB 4j LOUIS T. KLAUDER CONSULTING ENGINEER PENNSYLVANIA BUILDING. PH!LADLPH POWER PLANTS DESIGN CONSTRUCTION AMKtAISAk RUPvftT $35,000,000 GULF OIL CORPORATION OF PENNSYLVANIA Fifteen-Year 5 Debenture Geld Bends Te be dated December 1, 1922 Te mature December 1, 1937 Authorized and te be iaeaed $35,0OO.0C0. Coupon Bends in Si. 000 denomination Principal and interest payable at the office of The Union Trust Cempaay of Pittsburgh cr at Banters Trust Ce, New Yerk. Interest payable June 1 sad December 1, without deduction for normal Federal Income Tax up te 2. Subject te rcdrmptien. m m whole only, en any interest date upen four weeks' notice at 103 H and accrued interest. PURCHASE TOND Purchase Fend of $2,000,000 per annum, commencing November 1, 1924, te be used te purchase Bends upon tender during each November at net exceeding par and interest. If in November of any year a sufficient number of Bends shall net have been tendered at a price of par or less and accrued interest te exhaust the Purchase Fund of that year, the Trustee shall en December 1 next thereafter repay the balance in said Fund te the Company. Free of Pennsylvania Four Mill Tax The Union Trust Company of Pittsburgh, Trustee A litter treax Mr. W. L. Mellen. Preiidant e the Company, is aummnrized as fel'cwi: BUSINESS The business conducted by the Company and by Company is meant Gulf Oil Corporation of Pennsyl vania, together with subsidiaries, all or practically all of whose stock It owns includes the producing, refining, transporting, distributing and marketing of petroleum and ha products. It is one of the largest efl producers in the United States, its production from its mere than 3,700 wells in the United States exceed ing 80,000 barrels per day. A large portion of this is thoroughly settled. Practically all of the Company's oil fields in Oklahoma, Kansas, Texas and Louisiana are served by its own pipe line system, which, exclusive of field gathering lines, exceeds 2,200 miles. The Company's Pert Arthur refinery is one of the largest in the world- In 1921, it refined ever 28,000, 000 barrels of crude. The Company's own ocean-going vessels are u:ed te transport the refined oil te its own distributing stations en the Gulf of Mexico and the Atlantic Seaboard, in cluding the stations at Galveston, New Orleans, Mobile, Tampa, Jacksonville, Savannah, Philadelphia, New Yerk Harber, Providence and Beverly 'Bosten, Mass. Frem these points the oil is marketed threup.h some seven hundred and sixty sales stations of the Company. PURPOSE OF ISSUE The proceeds of these Bends will be used te provide funds for the retirement of the Gulf Oil Corpei atien (New Jersey Twelve-Year 7 Sinking Fund Deben ture Geld Bends which will be called for redemption en February 1, 1923, at 103) and accrued interest. p!5 PROVISIONS OF ISSUE These Bends are te be direct obligations of the Gulf Oil Corporation of Pennsylvania and will be issued under a Trust Indenture te The Union Trust Company of Pittsburgh, Trustee, which will provide, among ether things, substantially, that se long as any of the Bends are outstanding and unpaid, the Gulf Oil Corporation of Pennsylvania wi" net create or permit te exist any secured indebtedness upon or against its properties, including the properties of subsidiary companies, excepting purchase-money obligations en hereafter acquired property; also 'hat the quick assets of the Company, and it subsidiaries shall at all times be at least equal te the aggregate amount of their in debtedness, including the amount of these Bends then outstanding. EARNINGS Net earnings, after interest, taxes, depletion, de preciation, etc., have net been less than $9,000,000 in any one year during the past five and one-half years te June 30, 1922, and the average net earnings for this period have been in excess of $16,000,000 per annum. The net earnings for the first six months of the current year ere in excess of the net earnings for the entire year 1921. The maximum annual interest requirements of the remaining 6 Serial Geld N-.tes, due July 1, 1923, end the present issue of Bends, aggregate $2,110,000. The Company has pracMca'.y no ether debt ex cepting current accounts payable. During the past five and one-half years ever $84,500, 000 eurplus earnings, after dividends, have been re tained in the business. The $103,546,100, par value, of capital stock of Gulf Oil Corporation of Pennsylvania, at its present quoted price, indicates a value exceeding $200,000,000. New Issue $5,000,000 Republic of Colombia EXTERNAL LOAN Dated October 1,1922 Five Year 6!2 Geld Notes of 1922 Interest payable April 1 and October 1 Due October 1, 1927 I 97 and Interest, te yield about 5.30 When, tn and if iwued and received by ua nd subject te approval of counsel It is expected thnt definitive Dond will be ready for delivery bout December 1, 12. AH legal details pertamins te thu .sur will be paeed upon by Mews. Reed, Smith, Sbavr U McCluy, of Pitttburgh. Gulf OH Corporation Twlv-Ymr 7 Sinking Fund Debenture Geld Bendt will be accepted by th undesigned in payment at thair radaraptlen prlea, 103 , and accrued interest. The Union Trust Company of Pittsburgh Guaranty Company of New Yerk Bankers Trust Company, New Yerk The National City Company Mellen National Bank, Pittsburgh Brown Brethers & Ce., Philadelphia Wttaarti I tenia, but they are takW from Murcea whichwe eMre te be reliable, Principal and Interest payable in United States Geld Coin of the present standard of weight and fineness at the office of Blair fit Ce., New Yerk, Fiscal Agents of the Lean. Exempt from all Taxes, present or future, imposed by the Republic of Colombia Coupon Notes in the denomination of $1,C00 with the privilege of registration as te principal. Redeemable at the option of the Government in whole or in part en any interest date, en net less than thirty days notice at 100 and accrued interest. The following summary has been approved by His Excellency, Enrique Olaya Herrera, Colombian Minister te the United States: SECURITY: These Notes are te be the direct external obligation of the Republic of Colombia. Fer the benefit of the holders of the Notes the Lean Contract further provides for the deposit with the Fiscal Agents of drafts en the Customs Heuse at Barranquilla, each for the sum of $83,000 and drafts en the Customs Heuse at Cartagena, each for the sum of $42,000, one draft en each of said Customs Houses being payable te the order of the Fiscal Agents each month from October 1 , 1923 te September 1,1927, inclusive, or a total of $6,000,000 U. S. Geld. The moneys thus paid te the Fiscal Agents are te be available for interest en the Notes and at the option of the Government for their purchase or redemption at net exceeding 100 and interest. By the Lean Contract it is declared that this Lean shall be a lien en all customs receipts . from Barranquilla and Cartagena, except tHe pledge of 25,000 Sterling per month in favor of the Republic's existing external leans. CUSTOMS REVENUES: The total receipts (Colombian Dollars) at the Customs Houses at Cartagena and Barranquilla are reported as follews: Year ended Dec. 31, 1917 1918 1919 1920 1921 $6,800,000 $4,550,000 $7,250,000 $13,300,000 $5,900,000 The above receipts, which constitute about 80 of the national customs receipts for said ' years average $7,560,000 per annum. After deducting the 25,000 Sterling monthly charge en existing leans they overage about $6,000,000 per year. The annual interest en these Notes amounts te $325,000 U. S. Geld. The national customs receipts at all customs houses for 1922 are officially estimated at $11,000,000 of which about 80 or $8,800,000 are estimated for the customs houses at Cartagena and Barranquilla. ' PURPOSE: We arc advised that the proceeds of these Notes are te be used te retire floating indebtedness held principally in the United States and in Colombia and for ether governmen tal purposes. NATIONAL DEBT: The aggregate national funded indebtedness, as of December 31, 1921, together with the present floating indebtedness, is officially reported at $35,617,935, or about $6.00 per capita. Of this amount, slightly mere than Tialf, or about $3.00 per capita, repre sents external funded debt figured at approximately the current exchange rate. These figures are exclusive of the national currency issued according te the Constitution and limited te $10,000,000. FOREIGN TRADE: The foreign trade of the Republic ever a long 'period, shows a favorable excess of experts above imports. During the past fifteen years imports exceeded experts in only one year. The published statistics shew: Five Year Average Year 1921 1916-1920 inclusive Experts (Colombian Dollars) . . . $50,135,000 $63,042,000 Imports " ... 45,267,000 33,068,000 Total $95,402,000 $96,110,000 The experts' for the year 1922 are estimated at $80,000,000. TREATY PAYMENT: The treaty between the Government of the United States and the Republic of Colombia provides for total payments of $25,000,000 (U. S.) te the Republic of Colombia, the initial payment of $5,000,000 bein?, due in 1922 and the balance in annual instalments of $5,000,000 each. GENERAL: Colombia occupies an area of about 440,000 square miles, or mere than that of all the States en the Atlantic Seaboard from Maine te Flerida. It has a population of approximately 6,000,000, ranking in third place in population among the Seuth American Republics. It is noted for its wealth and variety of natural resources, being the second largest producer of coffee in the world. Chief among the ether agricultural products are bananas, sugar cane, tobacco, medicinal herbs, etc. The Republic is stated te be the largest producer of platinum in the world. Geld, silver and emeralds are mined, and deposits of coal, iron and copper are found. An active development is under way in the Colombian oil -fields, and American and ether foreign interests have made large investments in these fields.. Cattle raising is an important industry The National income for the present year Is offi cially estimated at $23,903,000, vith expenses estimated at the same figure. A noteworthy feature is the relative stability of its exchange; the current quoted rate is about 96 of par, which is the most favorable of the principal Seuth American Republics. Application will be made te list the Notes en the New Yerk Stock Exchange We offer the nbove Notes subject te the approval e ceumciat 98 and interest, te yield about 7 Blair & Ce., Inc. The Equitable Trust Ce. OF NEW YORK Redmond & Ce. Ttw MMmcatt """! vt. whll mr purantff d. re btird en Information cibtntmrl pirtly by tib1 from cnVlil tad etaar mirca. All t.tlstic. routing te menty iinlcu etlif rwi.j in.lic.teU cipreiml in ttrmi Tef the ColeaAlsn SOUfcafc Uellir or Pew, whlili, at pu of richanse ii equal te W. J J centt U. S. Qeld. il
Significant historical Pennsylvania newspapers