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TO DEVELOP USE OF ACCEPTANCES 'ew Council of Hnnkcrs nml linsincss Men rndenvrito Triulo Vrojeet. WIU, lTHMSTI JOURNAL W. T. 0. Hnrrlinp: and T. 31. Wnrburjr Speak on L'so nnd Abuse of Custom. Vr ' c vufp\ of Jeadlns: tho (level-ornift- it of thft uo f bankers' acewt-i.if- y. ileffrlbed as \the most Important (iiiflncM monint which has com be-,r- e the In tara,\ tliero wan jur lied yesterday ilnrlnc the tnectlriK In the Merchants Association rooms tho Arie-I'- i\ Atv rptance Council, which rjcveid.i tyc Trade Acceptance Council. More t.ian ISO members who liavo un- derwritten the project and would bo ir.embcrs nttciulel the meeting, pre-ld- fl over by Lewis K. Plcraon, ch Ir- win of tho board of the Irving Na- tional Hank. At the meeting clxtcen of the twrnty-fau- r number\ of the exocutlve committ- ee of tlio new council wcro chosen as folio- - Iwts E. Plerson, Paul M. Wirbtirp. former member of tho Fed-e-.- i! Itenervn Hoard. Jerome Thralls. errur niul treasurer of the Discount c rroratiru ' Xnv York: Inii!ol D. Wl-it- r. president of the First National Jiv k f lloston : \William A. Law, pres- - i rf the First Cs'stlonal Pank of I'M arte'phla Oliver J. Sands, president o the American Jv'atlonal Itank of JlMr-ion- d ; nr. J. T. Iloldsworth. nt of the Rink of Plttsburs; Charles Vi Duplne, of the Citizens National Bank of Cincinnati 1 Forrest Ferguson of the Tersusnn & McKlnney Dry Goods Crm-ran- y of St. Louis : M. A. Traylor, presi- dent of the First Trust and Savings Bank of Chicago; J. T. McCarthy, treas- urer of the Klrby Bonner Lumber Com- pany of Houston : Morton II. Fry of Der'nhard Scholle A Co. of New York; J II Tregoe, secretary of the Natlonla Association of Credit Men; Randall N. Purfee, of the Ameri- can Association of Cotton Manufacturers of Fall ltlver: Henry Burden, president of the National Canners Association of Caranovla, and Herbert C. Freeman of Touelie, Nlven & Co. and of tho Ameri- can Institute of Accountants. To Issue Periodical- The new council will issue a monthly journal and conduct a national cam-palz- n of edu\at!nn. W. P. G. Harding governor of 'he Federal Unserve Board, and Paul M. Warburg, formerly or of tho Federal Reserve Board, vrhn addressed the organization meeting, de.Tlbod specific functions for itsguld-urn- . Tho former suggested that It Is within the province of the council to sen that the misuse of acceptances Is minimized, citing such abuses aa draw- ing acceptances to collect slow debts or thorn of long standing, and that It Is a duty to arouse Interest In the bankers and trade acceptance bh an Investment. Declaring that the bankers acceptance Trill ba of the greatest use in the de- velopment of foreign trade, Mr. Wor-tur- g urged the widest and most profit- able uso of b;k1i financial vehicles, say- ing that tho council can give valuable information to the business men with respect to tho use of trade and bankers acceptances In domestic ar.d foreign trado and enlist Interest of many banks end trust companies and privato bank- ing firms that have not taken up the acceptance business. AVnrna Acnlnat Misuse. W P. c,. Harding, governor of the Federtl Itescre Board, said In part: \In the development of the American Mvepi.mee market it Is necessary to provide not cmly an outlet for accept---e- q but means of securing acceptances cf tWs In Adequate volume, nnd in crder o enable Ame-lca- n banks and bankers ' compete with British banking houses in flnar'lng the world's trade, the com-b're- d power of American banks whoso s- - en'ances 'an be irade available In f -- e jn markets to necept time bills rust be largo ir.ough to meet all \In Boston, New York ard Phlladel-r.- v' hc acceptance line still available fnr u.i by the accepting Institutions Is f'y ?r::.finn,000. Baltimore, Wlmlng-'- n and Charleston, on the Eastern d, c.in accept for about 110,705,000 for, miking a, trfi! available for the fen nt'on of foreltri trade of cltlea on the AMantU slope of about $238, 000,000, wt.t'e the foreign trade naturally financed tr. theso cities would require a much Ivrrer line, If any considerable proport- ion were covered by dollar acceptances. To provide additional facilities for nr-- i .r.g our forelsn buslne It may t advlj-ibl- to ask that section 1.1 of tve act be amended to permit the Fed-er- a' Heserve Board to authorize any rr.e- iber bank having a combined capital ind turplus of not Iets than $1,000,000 \i a ept drafts or bills nf exchange \wn upon it, having not more than six r\\!1\! sight to run, exclusive of days of which grow out of transactions .rg Importation or exportation of r\oii\ to an amount not exceeding 200 7- - rent of Its capital and surplus, pro-- v led tint no bank shall be permitted to a -- T)t domestic transactions In an an vt greater than 10 pT cent of its \7\al and surplus, or more than CO per e' of in capital and surplus for fur-- \ ' \.g dl'ar exchange, but that any iv- - \i n\ ' u i tll4 17 ix !' i'lfli loo ;3 3 73..l lOXU 1011$ 43 43 Vi Is'\ SO\ IHs UP,. Jl 71 Vi M r.ia4 llo 112 74 i SOU 31 101. 4.H, TV 45 ii M ur, no IDS IS' Tl Illr., ' 1 10, 10! 4' t 6 B, .1 16 6' r ,5, hi 10 .. fJ f. S? I 7 I .. 47 4 23 1 ir. s 116 6 120 I 7' Rale 300Tcnn Copper A Chem. . lOlOOlTexas Co 2f\00(Te.a.s Co rights 4400 Texas & Pacific 4400 Tobacco l'roflucts 300 Tobacco Xroductn pf... S200 Union Pacific S00 Union Pacific pi .100 United Alloy Ptfcl .... CO0O, United Cigar ... 100 United Drug Co 400 200 2S00 200 600 7200 500 200 D3301 f.00 S500 200 300 2000 400 100 200 United Krult Co U Rubber 1st pf . Smelting, R M. U Steel U Steel pf Utah Copptr 1300lVa-Car- o Chemical iVa-Car- o Chemical pf.. 1700 WestlMhousn IS M. lOOlWheelinff & Lake Brio 200! White 12500iW!lIyB-OvcrlRn- d 800 Wilson & 200 Woolworth, F 100 Woolwor h, W, part of the aggregate amount which a bank may be authorized to accept may be used In accepting drafts or bills of exchange, growing out of transactions Involving tho Importation or exportation vi goods.\ Warburg, who advocated caution In the further growth nf the acceptance business, mid In part : \It to be thnt strong accept- ance corporations will bo launched In growing number, which will specialize In doing an acceptance business. These corporations, under tho rulings of the board, may accept their capltnl and sur-plu- s many time over, their own re- sources being Invested in such a man- ner as to as liquid and readily avail- able reserve or Insurance fund for protection of tho acceptance liabilities of tho corporation. Woald Ilevelop rorrlnn Trade. \I believe that In developing ac- ceptance business in the United States ia most Important thnt wo should pro. ceed cautiously and avoid as much as possible nny untoward event which could undermine the absolute confidence In our bankers acceptances as an Investment both here and abroad. We must do everything to avoid failures which might reult from overexpanslon, ovcraggres-slvenes- .i nnd recklessness In granting credits. \t do not believe that advisable Wabash Western Maryland Western pf Westsrn Union Co W pf Mr net the the to go too fast In Increasing the, legal limits up to which member banks or ac- - ceptance corporations may accept. . If theso limits aro to be Increased, they ought to be very carefully safeguarded. I do not feel happy In throwing out this suggestion, because my own pref- erence for the British system, which permits tho acceptance business to w ithout any legal limitations, leav- ing the limitations, to bo established, to the business sngarlty of those that ac- cent and of that hnv the nccent- - j ances. We must not overlook that Kng-- I land Is a country with a comparatively small numbu- - of branch anks. nnd of great bunking amalgamation, while In the t'nltcd States wo deal with a tystem & A Tel & Is it Is la thnse of about 30,000 banks, all of which, large or small, would be affected by whatever rule might bo established, nnS one or two nmongst this 30,000 exceed- ing their llmTtnf prudenco may hurt the entlro development of our acceptance market. \Generally speaking. I give it as my opinion that where In the nature of the capital and surplus of de- posit banks form only a comparatively small Item an compared with the huge structure of deposits and other liabilities. It would not be advisable to add to that liability fo'r acceptance credits largely In excess of capital nnd surplus. I do not think that European banking experience would show thnt various large and strong deposit banks In Eng land and on tne continent accept to an extent mnterlnlly exceeding their capi- tal and surplus. You will find that they accept to the extent of only a amount.\ SEEK TO PROTECT RIGHTS IN MEXICO Committee Representing U. S. Interests Will Go to Paris Soon. A committee representing every branch of the National Association for the Pro- tection of American Bights In Mexico will leave in the near future for Paris, where they will take steps to protect American intcreets in Mexico and en- deavor to place before the pace con- ference plans through which they hope to avert trouble in other countries. The step was decided upon yesterday at a meeting of the executive committee of the association. Edward I Dohcny, head of the Mexican Petro.eum Corpora- tion, will t- - a mmber of the commit- tee. Tho other members have not yet been named It was etnted yesterday that every American operation In Mexico will be represented In the delegation. There ore, broadly speaking, live separate groups, as follows: Agriculture ar.d cat- tle, mining and smelting, manufacturing and rubber, petroleum and banking. The delegates for the last named group, tho hanking branch, will represent all Amer- ican owtirs of securities In Mexico. No plans ivs to Junt what the delegation will do have been made It was said yesterday and that was hardly possible that tho committee would meat on thli side of the water. According to tentative plans the groups will select representatives ar.d arrange for their Journey to Europe. Through channels which hnve not yet been divulged the committee. It raid, will try' to place before the peace con- ference all dfita which it has on the Mexican Mltuatlon with special reference to harm done and being done American interests in Mexican properties and In- vestments. It will go further than that, however. It Is said, and offer not only plans for cure but also plans for pre- vention It Is the Idea of those who have been Instrumental In Srinclng about the organization of tl.e committee that if so:n preventive step bo not taken the conditions which obtain In regard to Mexico will oxlst in every small country which may have g'own or may yet grow out of the conflict in Europe. It Is probable that tlw remainder of the delegation will bo named by the groups before the cnJ of this week. Hxports From Nesr York. Y Wheat. 22,000 bushels; flour, 132,983 i bbls. : rye flour, 4.S05 bbls. : grass snd, 1,281 bags; 12,023.023 lbs.; but ter, l'S.230 lbs.; pras, S.CSt bu. ; beans, fi72 bu. : cornmeal, 7.530 bbls. ; oatmeal, 3,491! bbls lard. 4,326,900 lbs.; grease, lbs. ; lubricating oil, gals. NEW YORK STOCK EXCHANGE PRICES. Continued from Tenth 1'apr. Storou Puclfic Motor hoped things smaller definite bacons, 152,000 11S.2J0 it; lUsti- - tmr. 13V 13a U. 13 '1S7-V16- !1SS 1S9 1GU' 1\ Id;1 16i 28 29 27! 2S4 I 73 744 \3U 71 . 102 102 102 102 '126H 12Ci;i244 125 i 72 j 72; 72 J 72 37H 37l 37V 37a lll'i lVs'llOU HOT S3 II 91 i 3 tetu ten.'. io 10 I flume. U 8 Express ii 17 i 17 t Mm V U ti industrial Aicnnoi. . . mi ivi ( . 99 1 U S Industrial Alcohol 100', 1004 100U lOO'.i H U S Itealty A Imp ' 2RH 2S: 24U 24Vj 2 U S Ilubber I 74H' 74M, 7.1 l 73H 1H H U 8 H 8 ... Wabash V . . It : ... ... ... It 109 M 109 i 109 ' 43V 3W s34 89 . 94 '114H U4H 71 H 71 H 63 I f.3 11 7i 30 104 EST. 87 U 41 S 45 23 Ti 65H 121 110 rat. 112 30T4 10 f.STi 87 U 41 S 45 244 CC ODD TRANSACTION\. tOlChlc. St . M & Om pf...105- - 110 est. 1141, 114: 701 SHi 1UT4 7 30 H 10H S8T4 87Vi 40 4 8 45 23 fi5 124U 121 ,16 116 I'lns. . ' . 109 43UI lil t94 71 U 61 111T4 7 30 10 58 T4 87 v; 40 8 45 23 (16 124H UG 105 1105 I Vet '4 H 1H pf pf 1 1H H 1H Aviviueiiu uvicrreu pcuuius o,. ,; Note Odd lot traneactiona are not recorded Jn sepnrnte lino unlws sales Ntti inadtt at prices ouUldo oX. the regular full lot range. NATIONAL BANKS SDRPASS RECORDS Resources, 1 0,021,40J.,000, Aro Hifrhcst Attained, Snys Comptroller's tteport. REVIEWS rEKIOD OF \WAR 'Normal Rates Maintained and Losses to Depositors Show Rip Dccrcnso. Kpteiol nttpnfK to Tits 8cx. Wasminoton, Jan. 21. Resources of the national banks of the United States on November 1, 191S, were J1M21.404,-00- 0, the highest amount yet attained, ac- cording to the annual report of the Comptroller of the Currency, made publ- ics The report contains an extensive review of tho financial activi ties of the banks during the war and pays high tribute to the character and experience of the men In the national j banking field through whose efforts the financing of the war was largely con-- l ducted. The Comptroller points out that the demand on capital and banking re- sources has been unparalleled In the history of tho country, and thnt In spite of the stress and strain tho position of tit banks Is better than ever, During the t eighteen months, the report say that the country has raised throunh ubond Issues more than six times as much as was raised during the civil war and largely at rates nf Interest not one-ha- lf aa high as were paid during that period. summarising tne years results of tho national hanks Comptroller Williams says that, although tho volume of busi- ness transacted throughout the country ns,s Deen unprecedented and the demnad for capital greater than ever, money rates have been maintained on a normal basis and that every legitimate Industry has been enabled to obtain funds needed for Its operations at favorable rates, Uanrloas Rntes Decrease. The report further says, that the usurious and exorbitant rates formerly charged In remote dlstrirts Jinv hn subsiding steadily and that the banks aro oaserving more closely tho pro- vision of the national banking act and rules nnd reffulntlnnn rf ts rnn- - troller's office. Colncldently with closer adherence to tha law the earnings of national panics nave exceeded those of previous years, according to the report Despite the strain ami itemnnria the banks there was no failure of any imuonai institution in lais east of the Rocky Mountains, the report relates, and In the COUntrv onlf on nntlnnal lii failure, a small bank In California, was reported. There were thirty-tw- o failures among private bmks and trust compa- nies In seventeen Ktaten tn the nm. time, the report points out. In aumma- - rising uin worK or me national banks in connection with the Liberty loans the Comptroller SSVS thft rational hint.. purchased for themselves and their cus tomers more man is,600,ooo,noo of Lib- erty bonds between Mav 1sl? n,A v-- rt vember, 1915. The rerjort shows that In nA iv,nr. vear of 1SS.1 thnrA i r.i nntinn,i bank suspensions, representing more than ou.iruv.vuu naoiiiiies. i rom April, 1917, to April. 118. there were nnlv four tin. tional bank suspensions, representing NEW THE SUN; WEDNESDAY, JANUARY 22, 1919. It about 1500,000 liabilities. Tho percent-ag- o of failed banks' liabilities In 1S93 to nil national banks' liabilities Is 2.39 per cent. From April, 191T, to April. 191S, the percentage of failed national banks' liabilities to all national banks' liabili- ties was ,00 i per cent, nisr Decrease In Depositors' Losses. In thirty-thre- e years prior to July, 19H, the average percentage of losses to depositors of filled banks to all na- tional banks' deposits was twenty-eig- ht of 1 per cent. During the past four nnd one-ha- lf yenrs the average percentage has been reduced to three of 1 per cent. Tho gross earnings of the national banks for the year ended July, 1918, amounted to SS1.1, 997,000, an Increase of 29f, 37.1, 000, compared with tho year ended July, 1914. The net earnings for the year ended July, 1918, were J212,-38- 2. 010, tho greatest on record, and ex- ceeded by more than 183,000.000 the earnings for the year ended July, 1914. The Comptroller points out that this Increaso In net earnings took place de- spite the losses and shrinkages In se- curities Incident to the war period and despite tho reduced Interest rates which have been brought about In the past few years. The average earnings on capital stock for the last risen! year wero 19.31 er cent. the greatest on record. Tho earn- ings on capital nnd surplus wero 11.09 per cent. In forty-nin- e yearn from 1S89 to 191S the national bank earnings were 12.81 per cent, on slock. Nevr JVofe Iiinei, During the year ended October 81, 1918, tho Comptroller issued $200,1611,140 national bunk notes, $1, 781,63,720 In Federal Reserve notes and 102,284,060 in Foderal Reserve Bank notes. Tho cur-rem- ;y bureau redeemed In the tame pe- - rlod 125B.078.213 in national bank notet, I334.403.92S In Fedornl Iteservo notes and $3,345,025 In Federal Reserve Bank notes. Tho larger portion of the Fed- eral Reserve notes was Issued principally upon tho security of gold or gold cer- tificates and paper secured by Oovcrn-me- nt bonds. Charters were granted during the year to 1(14 new national banks. Montnnn leading with 15 new national banks. Oklahoma had 13, California 12, Arkan- sas and Texas 10 each, Minnesota, Penn- sylvania nml North Dakota R ench, Ap- plications were received during tho yenr ended October 31, 1918, for 237 charters for new national banks, 193 applications belt approved and charters laeued for 164T Applications for 22 were refused. Tha records show that elnce 1900 2,773 Btate banks and private banks havo been converted Into or reorganized as national banks. Tho capital of theso State hanks was more than $200,000,000. The Comptroller repeats his recom- mendations for legislation regarded us necessary for protection of national bank stockholders and depositors nnd for tho public benefit. Including Insurnnco or guarantee of all national bank deposits of $5,000 or Ions. Paris Ilonrse Trsfllng. I'Ants, Jan. 21. Prices on the Bourse were sustained Three per cent: rentes were quoted at 63 francs 35 cen- times for cash ! exchange on London, 25 francs 98 centimes; 5 per cent, loan, 93 francs 50 centimes. H, O. of Kansas Dividend. Nr.ODiBHA, Kan., Jan. 21. The Htan-dar- d Oil Company of Kansas to-d- de- clared the regular quarterly dividend of $3 a share and an extra dividend of $3 n share, February 14. fitock books will not be closed. We advise the purchase and are making a Specialty of United States Government Liberty Bonds and are prepared, at any time, to buy or sell large or small lots Kidder, Peabody & Co. 115 Devonihlro St. 17 Wall St. BOSTON NEW YORK American Bosch Magneto Corporation (New York Corporation) Capital Stock Capitalization Authorized And Issued 60,000 Shares of Capital Stock (without Par Value) $1,800,000 Seven Per Cent. Serial Gold Notes Due 1920, 1921, 1922. The Bosch Magneto Company was originally formed in 1906. A large plant was erected at Springfield, Mass., which was placed in operation in 1912. The entire capital stock and certain patent rights, etc., were seized by A. Mitchell Palmer, the Alien Property Cus- todian, and were sold by him in December, 1918. The American Bosch Magneto Corpora- tion has been formed under New York laws and has acquired all the property, business and patent rights and other assets of the Bosch Magneto Company. The net quick assets alone as of September 30, 1918, were $4,367,767 equal to par for the notes and $42,00 a share for the stock. The value of the plant and equipment as certified by the Manufacturers' Appraisal Co. as of September 30, 1918, was $2,363,300. Total net assets were $6,703,526 equal to par for the notes and $81.00 n share for the stock. The plant includes a factory building of concrete construction, four stories in height, with a floor space of over five acres. Patent rights are carried at $1.00. Average annual net earnings for the five and one-quart- years ended September 30, 1918, were $970,800, or at the rate of more than seven times annual interest requirements on the notes. These average earnings arc equal to over $14 per share for the stock. The directors will include Arthur T. Murray, George A. MacDonald, Martin E. Kern, Harry C. Dodge, C. H. Dwinnell, Duncan A. Holmes, Philip L. Spalding, Henry N. Sweet. A majority of the stock having been sold, we offer the unsold balance, subject' to prior sale, at $65 per share. All Ugal details hate been passed upon by Memfs. Ilerjick, Smith, Donald and Farley. An audit of the bookt has been made by Mann. Ern&t & Emd, Ctrtificd Public Accountant, and an appraisal of the plants and piopertiea by the Manufadurfrs' Appraisal Company. The above statements are not guaranteed, but are based ,upon information believed to be reliable. HORNBLOWER & WEEKS YORK DETROIT BOSTON PROVIDENCE Declares payable CHICAGO PORTLAND rt '1 'ftJ n.',t u'i j,., r - vi..-- vi;'-- HI New Issue $1,005,000 South Porto Rico Sugar Company 8 Cumulativo Preferred Stock (Par Value of Shares $100.00) Preferred at to Earning!, Property and Auet. Quarterly Dividends Payable on the Flret Day of January, April, July and October. Both the common and preferred stocks of the Company are listed on the New York Stock Exchange, and application will be made to list the preferred stock now offered The Company has no bonded indebtedness. , If'e summarize from a letter of Frank A. Dillingham, President of the South Por'o Rico Sugar Company, as folloxcs: ' The Company hai been in tuccessful operation tlnce 1902, Dividend' at the rate of 8 per annum haw been regularly paid on tho preferred stock tince tluit time. The proceeds of .the preferred stock just sold will provide additional working capital for the purposes of tho Company and its subsidiary, Including fidditional cw.e plnntinsa in Santo Domingo. The cctual investment in the property (exclusive of current assets), which has been made out of the sole of capital stock and from earnings, is $16,422,237, of which about $6,800,000 Is from earnings. The common stock is now selling on the New York Stock Exclwrr) t about $140 per there, indicating a market equity above the preferred -- tock ef $7, 875, CC0, or $157 per shore. The production of raw sugar by the Company has nearly doubled in tin lr.st nine years. The average tnnunl operating profits for the nine years, 1910-191- were $1,792,299, wliich is equal to four end one-hal- f times the 6 annual dividend on the preferred stock now outstanding. Operating profits for tl.e yenr ending September 30th, 1918, amounted to $2,691,851, being six find one-hal- f times the amount required to pay tha dividend on tho entire preferred shares, and it is confidently believed that tha earnings for the coming year will be in excess thereof. ' Since January, 1910, the operating profits have been $16,130,693, out of wliich $6,812,640 has been set aside as reserve funds for Depreciation and Working Capital. In other words, considerably mora than one-thir- d of the operating profits has been set aside as reserves. The greater part of the Issue having been told ice offer the untold balance tubject to prior talc at $107.50 per share and accrued dividend, ( yielding about 7.45 Descriptive circular will be furnished on request. Strong, Sturgis & Co. Colgate, Parker & Co. 36 Broad St., New York. obtained $7,500,000 anadian Northern Railway Equipment Trust 6 Gold Certificates Series B, 1919 ISSUED UNDER THE PHILADELPHIA PLAN Due in semi-annu- al installments of $375,000 each, July 1, 1919 to January 1, 1929 inclusive. In coupon form for with provision for registration of principal. Dividends payable January 1 and July The Pennsylvania Company for Insurances Lives and Granting Annuities, Philadelphia, Trustee. information given summarized from a letter the President of 'the Canadian Northern Railway. The Certificates represent, at par, onlr 70Jr of the contract cost of new rail- way equipment pledged with the Trustee, which' retains title until all the Certificates have been paid. With this initial cash payment and the retirement of lOo-o- f tho certificates year, over ?0co of the equipment cost will have paid within three years. Under the provisions of the Statutes of Canada relating to the Canadian North- ern Railway Company, the rentals payable by the company under the lease of the trust equipment rank as a working expenditure of the railway, and thus constitute a claim against its earnings prior both principal and interest of all its mortgage debt. The Canadian Northern Railway is owned by the Government of the Do- minion of Canada, which has acquired the outstanding $100,000,000 capital under authority of Acts of the Dominion Parliament. Prices: 1919 Maturity, 6 basis; all other Maturities, 6lA basis. Wm. A. Read & Co. Nassau and Cedar Streets, New York Chicago Philadelphia Boston Londan- - 77ii issue having been sold, this advertisement appears as a matter of record I KI.KCTION9 AND Mr.ETINOS. j CONSOLIDATED GAS COM-- PANY OF NEW YORK 130 EAST 15lh STREET I Jimury 6th, 1919 The annual moetinR of tho stock-- ' holders of this Company for tho oloction of Trustees to sorvo during the ensuing war will ho held at this offico MON- DAY, January 27th, 1U19. Polls will open from 12 M. 10 1 P. M. Trans-- ' fer books will closo Saturday, January ; ISth, at 12 M., and reopen Tuej-- ( day, January 28th, R. CARTER. Secretary. ASSOCIATE! SAS A NO KMICTIUO COMPANY Noricn or ASxr.Mi iincTiso. nxrliiuien Xmt Yurk ( II . Janu.irt IS. 1913. vnTint: is minnnv i.ivkn that th nnnu.il intntlnc or ilio sicHkhnMf r of ASSOCIATED OAS AND Ul.r.l-ritl- O t'UM-PAN- !U b hel.l nt th omen of tho C'nmpiny, S r.xrhns I'lnr. Now YorU City, on Wftrtmaday .lannarv 2&, at J2 o'rtnct noon, for ths elect on of illret-tnr- for ntuln ar tnr ihfl (runs?-tlo- n nf any and alt buuinesa that may com beforn tnr'tlne. T. V. MOVI'AT. Secretary. i r.tjlit.n i. in. ill. ui uni,, uini urn annual mtlni5 f f lh tockhoM-- r of thr Hall H'.actrlral Cuiiijuiny fur tilA plfCttoTi of Director! and thn tmniac-tlo- n of urU othi-- builneii na may properly corn1 bfore th inertlrK v;ll lio held nt tiG of.fn \f inn rotujianv. 150 Kavt 15th fiiroet. New York Oltv, on Vednedni, tlio tlh day of February, 110. at 1'.' o'clock noon. 31 New York. January ::, JMJ. ThU Information nnd thf statHtlra ar not imranttw1. btit hra bwn from nourcrs to believe to be reliable. 20 $1,000 each 1. on The bcloio is from cash large each been to stock only. be 1919, 1919. A. 43 I'laer, th Mi'l th F.I.ITIO( AND MKET1NT.S. TITLE fil'Alt WtCK AND TKl'ST rO.MPYNY. 17C Broadway. Nw York. January Slt, 19 IS. At the Annual Meellnc of the stock- holders of thta company, held January Viet, 1(19. inn following: gentlemen Mere duly electel Trustees: i.ass nxrmiNo is the ykar iuj Frank ltalley. Oeorr\ E Ide, fharlea S Ant'ietin I). .Hi I II! ard, Edward T lledford. Ranald II Manlouald, Jullen T. Davlei. 1'rrderlck I'otter. CLASS i;.NI'HnNG IN Till: YEAH 1130 T llorwl l, I(a ilun Y. Kellogr. CLASS n.M'ItlNlS IN T 1 f J YHATl 1S1 Ilobert OM'phant. At a eubieijuent meeting of the Hoa--f- l the follow Ina nfllrera were unanimously nlorud: CLATlllNi'U II KKUSICY. )'rel-rien- t. THANK HAII.r.Y. Vice ITldnt; CLINTON 11 llfltlil 'K. Fe ond Vlre I'.DWMtD STANLKY, Third MM I'reldenl. J. It CU2 KUNI), fner\ tnr) . t.l!i:Nt K !'. UAItMSTAI), Triae-nre- J'HA.VK I HNII-TRN- , Manager of the l!r.iokln ItHnklnir Dwimrlmt-n- ; HOnACi: ANIr.K.-ii.N'- . Manajer nf the Manhattan imieo JflMN W SIII.I AltH. I.CJRI'.N Jl. I'.Oi KWKLL ard STEIMIKN T KKI.f l!Y AeaUtant Treamrera. NKI'.lt'N\ It .JIMI1N'. DAVID tILANK. HAROLD W IIOVT RANDALL HALIMHI'RY, FRIJD I. CHNR1T nnd fWKV II. WIREM A.N. Aa- - latai'.t feeretarlea. .1. WltAY I'LCVCLAND. Becretary. AZTKC UMI AND CATTLK CO,, Limited. January lit, 1319. The annual meeting tf 'he nockhitldera of the An ec Lnnd and i',tttli' toinpiiTiy. I. milled, wilt he held at the ufflce of thn ooiiipany. No !t South Wli'la it Hi New York I'ln, It.irount of Manhattan, on Tureilay, rehni.iry 1 1th, K1S. at 12 n'rloek M for the of Dlre-to- ra for the cniuinx ear and th transaction of aueh olher builnot aa may loin btfora the nieetlnv. CH.vnLKS U LIIHCOW, Beetltary. 49 Wall St., New York. DIVIDnNDS AND INTLltrST. The Baltimore & Ohio Railroad Co. orrirn or Tim skcuhtmiv. Unltlmori\. Mil Jiiimarv U, 131? Tho Itoii rrt of I'lrectori flats ilay dc!A!i.(t tnnn ttie r.t urn nuM of tlm (\ompmy for th i month fntli\! lmt-- 31. 191K, ft tllvMcnd nf Two I2t IV r rnt. on tli rrferrcil 8topk nf th 'oni,,'i')'. rM Urch 1. 191 to th atvM khuMrrv of rr -- rd nt (h clo'e of bualiicss on a. ii9 Th Hoard also W!ar. from tho nrnlncM of th-- i Pompanv a aiIdfnrt nf Two (J) IVr 0nt on tlm t'omn.iin ftorK of tht (\orrpnny p.iub 9 Marrh !, 19K', to th atockholdrs of re'oril at ih9 c!o of himlnean nn Jnnu.iry T1. The tratinfer will not r.n i'NiTi:n stti;s Krit comiwnv. No, 5 lUctor Strrt. New nrL, JnnuAry l'lt 15 !9 rurfviant to rc4oa;iun of tha rio\t! 'f Til., f . th 1 .a lh-,- C't'itip.n.y, nut 1m her n ihnt a lth arid pirtKi tlHtriln.Hon i.f th ammi o thi iVtji pntjv. hiii 'in n' luff tn $1 21 per . ahar\ win I. mad- - I'Vhru-tr- Hat, IS13. I Ih h;r'io Iiti of rcijt oh of th Z rtfcy tf f ruar , ChTka .ll hi Trunfr bnrj nf tVt t'ompnr Ml clop n- i oV d'k r.in I''itrtiry lit, IJI'J, and rc'Uapri IVM sry C4th. t919 JAMKS W. SMYTH. Trcaa irr 1,0 JtT, roiM AND IU;'A!ll)S H'ok No, fOlSl nf th th Ward HftiJc, r.ow t'hatham & J'h-n- lt NHtlntiAl Hank. :0J V. &7tl Hlr-- N. Y l'nm,nt att'l pfd. I'laa return book i.oTVaci jjoort i rati ft th i'ui- - hiLm A. riirtti National Hank. t\5 It It h !trt N Y raymcut topvi l''r.it ralura loo to ban'. 11! 1
