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The sun. (New York [N.Y.]) 1916-1920, December 24, 1919, Image 13

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PtSTWEESDAY DECEMBER 24, 1919, .iSSiSS 'c.m, a na. illSMh JWfWA\ Too' ,, liny Sin Emerald Crowe\ 1'u'' fum VUL B \ Manila\ Taint T II. ' srmtt Kol'-a- Tiulnr Wharton I. 4i i Church WMt \olnt Manufacturing tfomra's II\ I 1 oton ii 6 COMPANY\ jffiulestmait Sccuriti&l SO PINE ST. (CrounJ FW) N. Y. UJohn'&U City of Paris (France) ' 5 Bonds ISSUE OF 1919 gone bonds are drawn for redempt- ion at premiums ranging up to l0OO,OOO Francs. The Issue is redeemable by sbt drawings per ennum over a period of sixty years. Due to the recent drop in foreign exchange we have y materially reduced our price, on these bonds. Price $59 per 500 Frane Bond, Wca subject to withdrawal without aotlcej DeUlM CtttuUr No. 2S7 , , upon rettzesl, . Morton Lachenbruch & Co. InTCStmcnt .Bankers PHILADELPHIA NEW-YOR- land Tltlo Tilig. 42 Broad Bt TiL'Spnice ill Tel. Broad 7J00 Christmas Money If you receive money for Chriitraas, consider the advisa- bility it. Bonds $1.000.503. $100, $50. k Stocks any number of tharei. We shall be glad to i assist jou with (suggestions. John Muir S fa Odd Lots 61 BroaJW, IttmtKTS .Yew V\rk Ezctutngt Co. Successor to TUney, Latld & Co. Investment Securities New York THOMPSON AND McKINNON 42 Broidwar, New York 209 S. La Stile St., Chicago fl B'k Dldj., Inditnapolit During the Season Belleiiew Hotel, Belleair, Fla. Nea York Slock. Exchange Xtur. York .Cotton JEztJiange Members Ntie York: Product Exchange of Chicago Stock Exchange Chicago Board of Trade Winning Grain Exchange DIRECT PRIVATE WIRES We recommend the purchase of Common NFAV STOCK) 01RCULAH-\S- \ ON BEQUEST ft An ml a A GTnrtaaiaAlr 0- - if&A J4Wall St. N. Y. Tel. John 340 Od Lots. WritoDept. J 7. Members Km York Stock Exchanst 71 Broadway, New York City. Uptown Office.-- . ...i. ...... 39 E..42nci'8t Harlem Otnce; HO Lenox Are., cor. lSta,gt. Bronx ClSco 3D1 K. 140th HI. Brooklyn Office. ., 32 Court St. Yoakcrs Offlca 12 If. Hroadifay Newark Office. , 777 Broad St. N.Y. StateRys. Common and Preferred JJE.BIee,Jr.&C6. fhonea 400Q to 4010 John: SO Wall St., N.-- Graham, Parsons & Go. INVESTMENT .SECURITIES, 3S Chailnat SU \j 15 Broadway PhJIadeTphfa KeK York Uetor 91U-j- : DANES Mi RAISE CME IWOLAB Buy Largo Estate fpr Grazing and Will Ship Livo Stock to Denmark. TO EXPORT RED CLOVER Demand for More Costly Laco Increases Call for Sea Island' Cotton. Special Cable Despatch to Tub Son, Irom the London Times Service. 'CopvrtgU, 1913, all rights reserves. London, Dec. 23. A croup of Danish business men and farmers has purohascd a largo; estate In Poland and will tho PolUh Agricultural' De- partment In raising . and selling Danish cattla and horses and In the export ot red clover, to Denmark. Bofbro.''tho' war tho ImporlaJ 'Russian Government made, a, dear profit, ot 1 rubles from resources tajeca of what- - la now. the Azerbaijan Ropubllo In Azarbaljan. Tho, cross income was' 00, 000,000, rubles. On that 'basis- - sbudada Bey Mollk Aslanov,, Minister of Ways and Commuhloatlpns, thjnlts American capitalists, should turn, towards, Azerbai- jan. .Tho Nottingham district reports that ' the present craze, for more exponslve laco, has Ir&ensUlcd the demand for South Sea Island cotton. A neiy monthly maritime service has bo\on Inaugurated between Vancouver, Marsolltcs, 6'enoa and Levant by Socloto Genoralo de Transports- - MarJtlmoa do Marseilles. , ' This how worlta, fqr the Improvement of the, port of Marseilles axe, proceodine at groat' speed. The .recently formed. .Association of Hallways and Industries In south Rus- sia, xlth a, capital of 60,000,000 nibles. Is in urgent need ot railway and. factiory, machinery of every description, ' Copper for Solo In nolland. The \War Metal Company, Ltd., of Rotterdam, entrusted during vthe war with tlja sale and? distribution) of cop- per and trass, has ceased opecatlona. Laree. .quantities of, .copper and) brass lmveb'een released for. purchase tin the open market throughout Holland- as a result. Spanish rJuthortUos have sjraoted to an American flfra tho contract for drilling test wells In the Catalonlan potash fields for account of tholfipanlsh Government. Tho first merchant vessel of any con- siderable size, built In . Argentina has recently: been sealed by the buillers, the Scandinavian-Argentin- e shipping yards. Construction larger vessels Is proceeding. Thor'paper pulp, Iron andsteel Indus- tries' aro seriously affected In Sweden owing to coaf shortage. Federal grant of 22,000,000 kronens will be voted for the completion of water power stations at. Alokarlel, Motbla and Harspanget, In Sweden. Lack of rain has brought about a reduction In the peanut crop of Shan- tung province' from 600,000 pounds In 1918 to 101,000 pounds this year. nice milling machinery Is In demand In tho Foochow district of China as a rv'sult of tho increased cultivation of tho staple. ' High heeled,, vamped nnd round tipped shoes In tan or black, finely fash-loi.e- d from the best of calf and kid, aro In demand in Italy. Jnpnne.ie Line Calls at Svrnnaen. The Japanese steamship line, Nippon Usuon Kalsha, has made Swansea a port ofcalL Tfie first vessel calling thera wltH Japanese goods has loaded a cargo for the Far East. It contains tlnplaies and galvanized sheets. All regarding' Importation Into 'Franc of newsprint paper have bven revoked. Owing to removal of the embargo some 10,000 tons of tho best quality of Italian hemp Is now available for export. . The Siberian Government Is granting a premium of 100,000 rubles and has leased 11,288 acres for' nlrfo years to a company which has, been formed for erecting a sugar factory at Bavlosk, In the Barnaul district. Aftpr. experiments lasting longer than trlrpe years If has been found- that Si- beria: contains large tracts suitable for ht sugar cultivation. In order to en- courage tho erection of sugar mills to develop that Industry the Siberian Gov- ernment Is granting a premium, for every f.irtoryit up; The mackerel fishing Industry of Chrls-'lansun- s6uth Norway. Interrupted during the war, has been resumed. The total, catch, was very small, only 8,700 barrels being obtained. There Is a great ciemana in nuruimi and western Arrgentlna for tight,, hard- wood barrel's for uso by distilleries and sugar factories. All coke ana,coai in vranco rc Buujori. . i - Mm iv n'f'10 centimes a tone In accordance. with a law which came Into Torce last month. At a recent meeting at Tammenfors of . .it.MAMi.n.ifa nnd manufacturers of 1UUIIIH Jlia \ Finland It was decided to form an asso ciation to promote traae relations witn Russia. ' Soventeen catorplllar tractors ot American origin wore ro- - .1.- - in tmViIk from Franco. CUIIUV uun'w\ ... ThoyV bad belonged to tho American Ex peditionary :orce, ror uso on estates. Tho scarcity ot potutoes In Tinis has been so acute during the last few months that the authorities have had to limit their ci nsumptlon and prico There 13 demand In tho Shlraz dlstrlc of Persia for sheeting, fancy and real silks, ready mado shirts, shoes, cotton hosiery and cotton suits, including khaki and whlto drill, fdr men; aluminum ware, tumblora, kitchen utensils, enam- elled ware, window glass, tin plates, candles, oil lamps and lanterns. To relievo the shortage In Greece, the Sorblan Government has authorized the export to that country ot 3,600. ta of wheat. 150 carloads ot choose and 20 carloads of chlfjltpeas. Skelly Oil With thirty-fou- r drilling outfits in operation, the pro- duction of the company is steadily growing. Review of management's plans contained in current issue of FINANCIAL FORECAST Among, other Isaues treated- are ISLAND OIL GOLDWYN. PICTURES ARKANSAS 'NATURAL GAS Jn rtquesilng copies ask for A'o. 1.1. Sent tcUKaut obligation. EsfAusSo isos 41 BRCWD ST. \HEWVOUK- - , pfioivs Drtwd 28 1 \ NEW INSTRITME5T COMPANY, Corporation to Tafea Woolt Optical Formed In peinwnre; A new corporation with a capitaliza- tion of 160,000 shores, of capital etook without par value, known as th'e' Vyoolf Instrument Corporation, has ban formed under Delaware laws to take over the business and assets, of the Woolf Optical Instrument Company, which manufac- tures optical and other lnstrumanU, par- ticularly a single unit designed to take the place ot the old stylo trial tram or case usod by qcculists. The now company has been Incorpo- rated by tho lntarets represented In th old organisation. Including Michael, Em- manuel and Daniel Woolt. A- part ot the 150,000 shares ot stock In the now corporation Is owned by thoso Interests and a large block Is to be offered for publla subscription at a price to bo announced later. The Metropol- itan Trust Company-i- s transfer agent for the Rtock'an'd the Equitable Trust, Com- pany Its registrar, Application, will be, made, to list tho, stock on tho N,ow York Curb. NUMBER OF BONUS PAYMENTS GROWS Largo Industries Act a Clans to Officers and Employees. The number ot large Industrial cort poratlons and- banking institutions which, aro making gifts to their officers and employ oes In tho shape of cash bonuses Is Increasing dally. Tho Lincoln Trust Company has announced the croatlon of a large special fund as a bonus, for its employees as further recognition and re- ward for faithful eervloes during the ourront year. It amounts to approxi- mately 5 per cent and will benefit vorjr member of the company's staff. Including offloere, and will be divided on it pro rata baala, beginning with a, 10 per cant, apportionment at Christmas, and followed by three 5 per cent pay- ments on April L July 1 and October 1, 1920. It la understood that It will be supplemented, by usual yearly increases la cases of which particular recognition Is to bo shown for efficient and faithful services. The Mercantile Trust Company has paid Its employees a, bonus of 10 per cent, of their yearly salaries,, making a total of 20 per cent paid during tho last six months. Tito company has made a substantial Increase In Its employees' salaries. Col. Samuel P. Colt, chairman, nnd C. B. Seger, president of tho United. States Rubber Company, announced yes- terday that as a holiday remembrance that company Is giving to Its salaried officers and employees In this country 10 per cent, of their salaries not exceeding $2,000. To those whose salaries exceed that amount 10 per cent of J2.000 Is being paftl. About 7,500 will recolve that benefit. Christmas bonuses. In some cases amounting to 20 per cent of their yearly salaries, are being paid by banks, de- -. partment stores and other commercial bouses In Brooklyn to their employees this year. Tho employees of the Brook- lyn Trust Company wlltireceive a bonus of 15 por cent on their yearly salaries, which, with bonuses of 5 per cent each, paid In July and October, makes a total of 23 per cent extra this year. A 20 per cent bonus will be paid to employees of the People's Trust Com pany of Brooklyn. Frank Klernan & Co., advertising agents, nnnounco a 'bonus for all of their employees. The directors of George W. Millar & Co., Inc., paper manufacturers, have voted to adopt a profit sharing plan, whereby all of Its employees aro to par- ticipate In its profits to the. extent of not. less than 30 per cent, of Its net profits and are making a partial payment for the holidays as their fiscal year, ends on June 30, 1920. Adopts Group Innuranco l'lnn. ScHENECTAnr, Dec, 2S. The General Electric Company y announced me adoption of a group Insurance 'plan foe all of Its employoes who have been with the company for a year at the' plant here or In any of the several branches. Tho plan will affect 70,000 workers of both sexes. The total liability, which will bo assumed by the company, will be J50.000.000, It Is estimated. The plan will go Into effect on January 1. LONDON STOCK MARKET. Ilnalneis Reduced, bat Tone Is ' Good and Hntl Advunoe. fpcrfal Cable DetpatcK to Thk Scn and the rubtte Ledger. CopyrigM. 1919, all rights resevei. London, Dec. 23, Business In the stock markets was to-d- on a reduced scale, but their tono on the whole was good. The chief feature was further appreciable advance In some rails, buy- ing of which was described as good. As a result ot news from Buenos Aires of labor unrest the upward movement in Argontlne rails received a check. Peru- vian Corporation Issues, Mexican Eagle Oil and Royal Exchange Assurance closed appreciably higher. Thn Bank of England again discounted a moderate amount of fifteen day bills at G per cent. Discount rates opened firm, business being reported for three months bills at 6 por cent, Later In the day, owing to easy monetary condi- tions, rates weakened and there were hm-er- a at G per cent. Rates for day to day monS? ruled at 3 to 4 per cent, but toward the close balances In torn Instances were placed at 21-- - per nni For advances Into January clear ing banks charged 5 per cent, although occasionally higher rates were paid. New York exchange showed a further improvement, closing at J3.84J4. French and Belgian francs improved in vaiue, Paris closing at 39 francs 924 centimes and Brussels at 39 francs 02. SHIP $3,000,000 TO CHINA Export of Silver Dollars on Ueo. 25 To lie Third ftecent Lnrco One. A shipment of $3,000,000 In silver dol- lars of United States currency will leave San Francisco on Christmas Day, mak ing the second shipment of importance mado to tho Orient In the endeavor to stabilize Far Eastern exchongo without going to tno extreme oi snipping uia. Two shipments of sliver dollars to China have been mado by agreement with the Government, one of $3,000,000 on November 25, and tho other of $9,000,-00- 0 on December 10. Tho shippers on December 25 wlH .be' tho International Banking Corporation, tho Park-Unio- n Foreign Banking Cor- poration end the Asia Banking It 1 reported that the \dollars were procured against tenders of current funds from a tree supply carried, by the Government In its general fund.\ Furls Qonrie Trading, Pahib, Dec S3. Trdi\(f was dull on the Bourse y. Throe per cent' rentes, 60 francs: exchange on London, 40 francs IS centimes'; .5 per cent loon, 88 francs 30' centimes; dollar, 10 francs' '35 centimes. London Money Market. London, Deo, 23. Bar sllvor, 7,7,14d. an ounce; money, 3 percent. Discount rates; Short and three months bills; 5 per oerit ; gold premiums at Lisbon, 140. xontQr ' ATustee Chartered 1822 TkFamersi'1 Loan and-Jrus- t Company Hos, 10,, ,18, 20 & 22 William Street Branoh Office, 475 Fifth Avenue At Forty-fir- Bt Street . Now York London. Pari Foreign. Exchange Administrator Guardian Member federal Hejerre System and Hew York Obuiiig Erq 'DeLMonte In the 17,464,316 property ajjet, account of the California' Packing Corporation, the value, of .Del Monto brand, identified with food products of world-wid- e a.ale, packed'and marketed by this Company, ia not included. This policy of not capitalizing good will, trade-mar- or patents is in keeping with the conservative conduct of the, company's affairs. Write Jot analysis UJ5 ahlch itals with At intulmcni potttUUtta o) ' this Corpyaiton. . A. A. Housman & Co. \New York Stock Exohanga . New York Cotton ExcHangP Members, . New York' Coffee &' Sugar Exch. New York Produce Exchange Chicago Board of Trade Associate Members of j Liverpool Cotton Association 20 Broad Street, New York BKANOIl OFIOK9I . SS West 33rd Street, New York. Liberty Building, Philadelphia. NEW YORK STOCK EXCHANGE PRICES. DIt.i . Bid. Alt. toll Salea. 105 1110 v I 71 100 4H 200 14 15 IM 1800 40 43tf .. 400 108 108 10 2000 68 69 6 5000 26 27 .. 100 42 42 2 1600 57U 60 2H 100 26 27 .. 3300 11 12 .. 382 99 99 7 3800 65 66 4 '200 54 67 6 200 79 80 7 7200 7t 72 5 300 44 .45 4 114Q0 50 51 2 100 9Vt ' 9 60c 6100 9 10 .1 300 135V 139 6 10 34 35U .. 600 57 58 3 100 7 100 76 79 4 700 59 60 5 100 35 37 1 200 37 38 .. 200 104 104 6 10300 100 101 7 5300 40 40 3 14300 32 32 .. 100 33 34 .. 1600 28 28 .. 4600 CC 67 5 BOO 36 37 '3 4200 75 75 .. 6800 106 107 8 100 19 19 .. 2100 67 60 4 100 62 63 6 200 91 94 7- 100 27 28 .. 4400 27 27 1 1700 98 99 8 1100 100 101 7 200 112 112 81600 92 93 6 800 96 97 8 900 105 109 7 100 20 20 2 1400 76 76 4 4100 34 35 2 33 34 2 1200 88 90 .. 1300 52 63 .4. 600 111 111 6 24300 97 97 8.\0 13 13 1 000 17 17 .. 1100 22 25 .. 200 13 13 .. 800 14 14 .. 600 7 .. 600 13 18 .. 2001 11 12 1 700 7G 77 ,.. 1800 43 43 .. 62000 71 71\ 6 800 102 102 6 8000 21 22 .. 2100 55 66 6 800 72 72 4 800 103 103 7 llOOf 112 114 5 1J0 47 47 3 200 9 9'..' 900 225 22G 10 1000 1300 42 43 .. 2S0O U 12 .. 1200 91 92 J'6 2700 102 102 ,7 600 102 103 , 7 50 17 19 .. 600 37 S7 .. 16400 62 63 5 100 36 87 14200 121 122. .10 5600 68 69 4 900 CO 50 '4 200 61 62, 3 200 198 200 10 200 11 11 1300 20 26 .. 3500 91 91 3 6900 27 28 1100 77 78 V 2000 109 109 8 172 00 40 43 ' .. ' 200 124 124 8 4000 113 114 ' 8 200 74 '75 4 -- 6 MOO 40 47 S -- 200 104 104 6 27200 112 113 7 1200 73 73 6 120Q 10 10'.. 1500 67 67'.. 1300 66 65 4 400 109 112 8 100 '8 '8 500 22, 13 'i. 15 18 ..' 100 52 58 ji 3 100 62 63 2 89 9 9 Continued from Preceding Page. liy'atlonal Lead Co pt. Nat B. R ox- Mox ia pi Vnvnrin Pnn Conner j . New Orleans, Tex & Mex 41 New York AIT' BraKO,. . . New York Central New York. Chic & St L. New York Dock Now York Dock pf New York, N H & 11... Vnrfnlk Southern Norfolk & Western.... Norfolk & western pr.. North American Co.... Nnrthprn Pacific Nova Scotia S. & C.... Ohio. Cities Uas Ohio Fuel Supply nitlnhnma Prod & Rcf . . Ontario Sliver Mining.. Otis Elevator Otis Steol Owena Bottle Co Pabst Brew pf Pacific Development .. Pacific Oaa & Electric. Paclflo Mall Pacific Tel & Tel Pnn Am Petrol & T. . . . Pnn Am Petrol & T B.. Pennsylvania R R IPenn Seaboard Steel... People's Gas. Chic Pere Marquette Porn Mnrnuette nrlor Df Philadelphia' Co Pierce Arrow Motor. . . . Pierce Arrow Motor pf. tHnfnn All Pnm Pitts, 'C. C & St Loula.. Pittsburg Coal of Pa. .. Pittsburg Stceel pf Plttsburc '& West Va... Pond Creek Coal....... Pressed Steel Car Pressed Steol Car pf. .. Pullman Co Pnnfn Alecrrfl Rnsrar.... PnlHvnv fitpul Snrlncr... Railway steel spring pr. 1106 Ray consoi top Reading lOOlReiulliiir 1st of S 5.... Reading 2d pf Remington Typewriter. Renuhlli: Motor Truck mnnlillf Trnn .t-- Steel. lOOUlepubllc iron & eieei rts 4100Royal Dutch Co N i . . . St Joseph ieau St Louis & San Fran... St Louis & San Fran pf St Louis Southwestern. Saxon Motor Seaboard Air Una Knahnnril Air Line nf . . . fihnttnple Arizona CoDDor She I Trans ft Trauing... Sinclair Consoi Oil Sloss-Sheftlo- ld S & 1 Southern Pacific Southern Railway South Railway pr oxuiv... Stromberg Carburetor ... .Studobaker Corp stutz Motor Superior Steel Com Tenn Copper & Chem. . . . Texas CO' Texas Co rts To'xas & Paclflo i . Third Avenue Tobacco Products Tobacco Products pf .Tobacco Products Df. . . . T, St L- - & W pf cts of dop Transcontinental Oil Transuo- & Williams Steel Union OIL Union' Pacific ........... Union pacific: pf.'. TTnlrmt-Al'n- v Steel United Drug Co 1st pf . . . united r ruit w United Ry Investment . . Tlnltoil TTv Investment nf United Retail Stores .... U S Express U g Food Prod Corp U 8 Industrial Alcohol... U BeaUy & Imp..... U S Rubber : ITT 1st nf....... tr a Smelting, R & M ... IU b smelting, u oc.uj.jJi. IT ft steel .. U 8 Steol pf ntnh Cornice Utah Securities Corp vanaaium corp vtt-ca- cnemicai nan SOOOtWalxua pt A waoasn pr ts Wolis Fargo impress..., lODen- - niifc- - Low- - I Ctoi- - I \rt 1\. \ \L ' ' CI\\ 109109 109 109 TT 4 4 4 Ws 15 16 14 14 - 41 40 40 1 110 110 108 108 . 2 69 69 68 68 - 26 26 26 26 1 42 43 12 42 1 60 60 60 60 27 37 26 26 11 11 11 11 97 99 96 97 66 66 66 66 56 65 55 55 '80 81 79 80 1 72 72 71 71 - 1V4 44 44 43 44 - 60 60 60 50 9 9 9 9 Ve 9 9 9 9 .. 135 136 135 135 35 36 35 35 68 53 58 58 U 100 100 100 100 .. ' 76 77 75 77 1 59 59 59 59 35 36 35 36 1 37 37 37 37 104 104 103 104 101 101 99 101 40 40 40 40 32 32 32 32 1 34 34 33 33 28 28 28 28 66 67 66 67 36 37 .36 37, 1 75 76 74 75 106 106 106 106 1 19 19 19 19 59 59 59 59 61 63 61 62 1 92 92 92 92 27 28 27 28 27 27 27 27 99 100 98 98 101 101 101 101 113 113 112 112 91 92 91 92 96 96 96 9634 106 106 106 20 20 20 20 , 76 77 76 70 34 34 34 34 34 34 33 34 86 88 86 8S 2 53 53 53 53 111 112 110 111 1111 97 98 97 97 13 13 13 13 17 17 17 17 24 24 24 24 14 14 12 13 14 14 14 14 7 7 7 7 14 14 13 1S 11 12 11 12 78 78 76 76 1 42 43 42 43 72 72 71 71 1 102 103 102 102 22 22 21 22 66 56 55 65 -- - 1 71 71 71 71 1 103 104 102 103 112 112 112 112 47 47 47 47 9 9 9 9 225 225 224 225 59 59 68 58 ' 42 43 41 42 11 11 11 11 92 92 91 02 102 102 102 102 102 102 102 102 18 18 18 18 33 38 37 37 1 02 62 62 62 .. 35 37 36 37 1 122 123 121 123 66 69 66 69 2 60 60 50 60 62 52 62 62 200 201 200 201 10 11 10 11 25 26 25 26 91 91 90 00 25 27 25 26 3 78 78 76 77 1 1109 111 108 109 42 43 42 42 1 124 124 138 124 1113 113 113 113 74 76 74 76 45 46 13 46 104 104 103 104 112 113 112 112 72 73 72 73 vf- - 9 10 9 10 57 67 66 67 65 66 ' 65 ' 63 112 112 112 112 8 8 8 S 23 23 23 23 10 15 15 15 53 63 53 63 62H 52 62 62 WftY no investor fta wer losii qifrr of principal or intefeat on yny purity bought ofiS. W, Stww & Cq. The Graphic Curve of Safety (600,000 Tfjoo'.oao' IV gojJJ& jtfgryt'it of Sfiety Increasing \r Simple graph showing Amortization $600,000 boiyl iss,uo $l,000,Q0O property 1001$ Every first mortgage bond issue whicli purchase and offer under the Straua Plan mut be .Brqteced.by an. ample margin pf gqfejy between the amount of the loan and conservative appraisal pf the mortgaged property But this ajone not enough. Every 'bond issiie also scientifically amortized tha,t is', certain portion of the bpnds come due and are paid off each year, that the margin of safety is constantly grpwjng. For example In the typical issue shown by tho above graph the original loan $600,000 property falyed $1,0(10,000 is reduced by after the first year, afterthe second year, etc., thua continually Increasing the equity and much more than providing against depreciation. This house was pioneer ii this country jn adopting the principle and perfecting the practice of amortization. This now generally recognized as vitally necessary safeguard in real estate loans, Campaigns for i$s. widespread adoptions are being waged by the United States Department of Labor and by the savings bank section of the American Bankers Association. Our booklet;, \Safety and 6,\ explains .in sim.ple language how proper amortization protect investments. Write today for it, together yiin our current onenngs amuriiacu msa mui iguyc serial raonus. iui nniruoo DETHOIT BUFFALO BOOKLET NO. D-31- 2 SSTRAFS GO. ESTABLISHED 1NCORPOHATKD 150 BROADWAY, NEW Thirty-seve- n years, without loss to a;ny investor MARVyiCK, MITCHELL & CO. ACCOUNTANTS AND AUDITORS announce that they have to partnership in their firm, Mr, Albert J. Watson, P. A., who was Manager their office at Kansas City. The growth the firm's business on the Pacific Coast, established in 1, requires the continuous resident partner, and Mr. Watson will, therefore, make his headquarters at the San Francisco. Office. Wall Street, New York December, 1919. Mark A. NobU NOBLE & CORWIN 25 BROAD ST. & & & & & & Broad IU0 to 1119 BILL OF LADING BULUtG. & YORK BUY SELL C. Hold Twu Vrnrs nnd, Dnr 23. Freight bill of lading provisions Insti- tution of' suits, for loss, damage de- lay only within two years and day unjustly unduly by Hid Interstate Commerce n ii 17 18 20 21 55 53 86 S7 114 113 535i 53 12 12 18 19 5SH 54 27 2& 'i SS S3. 78 79 28 34 121 132Vi 84 85 12 T4 Odd Iota, rr of on we a, is is a so of on a at 5 by 10 a is a or. rrt 1. -- 1. '0 nas iW Maryland ST. C. of r of ? of a 79 I. C. Dec. or a were held and 4 7 7 4 .. .. t i 1 5 .. 8 I S L ' - i i x I 1 A r ' I .. .. i 800 Western 2d pf 300 Western FaclUc COO Western Paclflo pf.. .... 100 Western Union Tel 1200 E &ai.. 3300 Wheeling & Lake Erlo pf Motor .... Hotar rts. 4800 \200 900 100 300, & T. Wilson & Co F W.. 700 PumD LOTJIB MOBTON C Corwin YORK Bankers Trust Stock Rights Chase National Bank Stock Rights Citizens National Bank Stock Rights Corn Exchange Bank Stock Rights Equitable Trust Stqck Rights National Surety Stock Rights Telephones I'rovUlonn Unrennonable. permitting unreasonable, dis- criminatory prejudicial Commission to-d- In deciding the case brought ly Jacob E. Decker & Sons ag.ilnst tho of Kallroads and others. An order within sixty days modification of such provisions that. In a case in which a carrier has not de- clined a claim In writing beforo tin1 beginning of tho last six months of tho two year and a day ycrlod, suit thereon may bo entered within six months from the date, on which the claim Is definitely dcluied, but not after. ni cntpred. YORK STOCK EXCHANGE PRICES. SOOIWestern Maryland 800 Westlnghouso Air Brake. wcstlnghouso 400Whe!lInK & Lako Erio 2000IWblto ao.OOlWhlte Wlllvfl-Ovorlan- d wniya-Overland'- ttwoiuia veauiu . .... lOOfWoolworth, . . iWortblntfton' WASHINGTON WCTtningtoryump pr i,, pnii.ADELrniA MIKKKM'OLIS PITTSBURGH admitted attention Washington, Theodore NEW Director-Gener- requiring NEW 11 11 11 11 13 IS 13 IS ?1 21 20 20 67 67 66 56 S7 87 87 87 114 114 114 114 91 63 53 53 BSVtl 13 12 12U 12 19 19 19 19 53 59 53 58!i 3 2 2 2 27--j 23 37 3 88 SS 8S U 78 78 78 78 2 30 30 30 30 ., 121 121 1314 121 84 85 84 85 7iU 72K T2 78ttjrltt so -- 4 60 4) 9 SAN FRANCISCO INDIANAPOLIS 13 Par Dividends Capitalization UighLow Records Condensed Facts and Analysis on about 4C0 companies in the 272 pages of the INVESTOR'S MANUAL Croffa on request for C-- R. H.MacMASTERS & GO. Members Consolidated Stock Ezch. N. Y. 69 Wall St. New York Hanover S51C. Ground Floor. Special Letter this week on FEDERAL OIL Recent Special Letters on U. S. Steamship Warne Coal United Prol.Sh.tins No. Am. P. & P. Hejdtn Chemical Hupp Motors Submarine Boat SweeU Co.oi America Copies upon request Telephone Rroad 7171. Aeolian Wobor Piano Pfd. Arkansas Natural Gas now Atlantic Fruit & S. S. ' Int'l Gt. Northern j New Jersey Zinc Wolch Grapo Juice Yalo & Towne Mfg. HERMAN BROS. Specialists x 27 William St.. N. T. Tel. Broad 2701 . FOREIGN GOV'T BONDS ALL, issuns flOUCIIIT SOLD QUOTKD ALFRED R. BISSE, Specialist 60 BKUADWAT .NEW TTOIIK Tel. Broad 5204 B.VI1 748S. THE FIRST NATIONAL BANK OF BOSTON Capital, surplus and profits .... 133.000,000 Resources, over 200.000.000 The National Bank of South Africa, Ltd. Retources Exceed 5287,000,000 10 Wall Stroot Now York n. K. SAUNDERS, Agent. I?

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