Newspaper Page Text
100 Years A Commercial Bank THE. fllirvIhewVnril Cap* al & ?SurpUis,$5.0W jjOO Resource?, - 70,000,000 Charter Member N. Y. (learnt; Hoot Member f?d?rai Rear** Bank United Staitt llcp*x>dorj 192 Co Bl-tTia-arTWOy r. Jokus St. rnv*r*?HT*, CtrmetnmUh and Warvvn St*. Bowery and Gcsknd St. 845 Gooomllt Ftft h Avenue and 1*fV*tS Sfc. ?tinth A?*?*???** msf\ i Ott, tm. Fifth A?~j??aa. and 20th 9?_ 2 Waal 33rd .Str?s-?t S7th Srtrmtit and TWd Av-a. 86th Strmmt at Sa-?i7-t-tnd Am*. Bi-oadwav and 104th Su-aet L-rttar-a Avenue and 116th St. 12Stfa St. and Lex. Arc. ff't Itmit? Yottr Acetrani A Company with a Phenomenal Earning Power The S. S. Kresge Co. (Fhe and Ten Cent Stores) ha? SllTT????*- Its ability to earn large pro?!* 171.1 I "S 4SIV1 Three and eOT* ***? we. witti our me* lates ni derwrot? the ?* ... -;.. - eri.imon which original ?ul?ecrlb?r? ob? tained at M'- m ? ?.hare-has sin. ? BOM , t - , | ..-.;.. dividend? and on!> rec-i?t. * t''ock dlv1' dend. ?'?'> -"' Th? new ?i.--i?, which ?*.<> conidder an rat, is aalltaia around IH I'r ?Bar* ' par va.ue 110 I l'.ar.:iEs for the ymmt 1S1I ?re ap arozlmated at IIB.00e.0SB, an Inervase of 14 00*000 OT*T 111? go? 'be year ill? 'it Is estimated earnings will amount to at least I25.ooo.ooo. or equal i . on the. romraun mwk. Additional facts and ftgor-a will b? furnished to those Interested. Ask lor Circular fl 114 Geo. H. Burr & Co. BANKERS 120 Broadway, New York 'Phone Rrctor 1740 Philadelphia Bo?ton Chic***? St I-oul? Seattle Pen Francisco _? ities Short Term Securit under present conditions offer peculiar advantages. Do you realize them? Vv'rite for circular T-390. Bigelo\v& Company IL X3 l'lne St. Mo ne "r'tH> John. American Chicle Com. Rojal Baking Powder Pfd. Cltle? Her? lee C?. Amer. light * Traction Chevrolet Motor rentrai Mate? Kleet. Pfd. Privof? Tt'.tphine to Phllo. and Bostots. H.F.McCONNFXL&CO. til Pine St.. Tel. 60>U John. New Yorjfc. Lehigh Valley Coal Sales Pheips Dodge & Co. FREDERIC H. HATCH & CO. ******* Broad SI 10. SO Brocad St.. New Tork. Prtr-ata? tel-phen? to Boston aid Phi'ade'.phla? We specialize la Pierce Oil 6s. Pierce Oil Common. Inrjuiriig Botet it- I. Douglas Fen wick & Co. 34 Wall St. Tel. 4220 John MUNICIPAL BONDS ? 7 -. t?a tavoal ?t attrsM..- r?-?- ? lhi naf-nt form of !.!??. ; , II* i\ n i oi.kk a < O f.l 1 e.lar Sir.-et. New York. Wm.A.Read&Co. Investment Bonds Nassau Or Cedar Streets, New York *?****??*- 'a.. i mm lemOm New York Central ? ' a'. | ||,?, * ??M !.? ,. ' " ?? ? : I ?-III.. - '...IraI Send lor Copy The Financial World 18 Broadw-y, New Y?,rl?. .?VJI WALL fllEIT reedi ODW, MV, BULLETINS & TICKERS Il ve-'or? rr.irj THE WALL STREET JOUKNAJ LOAN OF VICTORY OPENS IN FRANCE Maximum Advance to Each Person Raised to $60,000 ?May Go Higher. KITCHENER CHEERS PARIS BY FORECAST French Think Army of Four Mill? ion in March Not Unlikely Gold Deposits Increase. By YVES GiYOT. E?-MIntiter of Public Works. Editor "L'Afeiien Economique et Financi?re." in? ctbit to T^ team ' J Paris, Nov. 25.?Subscriptions to the "loan of victory" open??d official? ly to-day, subscribers receiving re? ceipts "when and as issued." The Bank of France, which advances .r>0 per cent, with a maximum of $.r>,000 : en 3 per cent rentes, agrees to ad-, vanee 75 per cent on provisional re? ceipts of the "loan of victory" at 6 pet cent, with the maximum advance to one person raised to $00,000, and tho possibility of extension In special cases to $600,000. Loans aeked for on other stock in order to raise money to invest in the "loan of victory" will be treated by the Bank of France as thouph they are loans on certificates of the "loan of victory" itself, and, moreover, the bank will pay stump taxes and con- ? duct all operations, with no charge for commission. The loan has every appearance of success. The Chamber of Deputies is hav-? ing a hard time to decide whether to | give provincial mayors or prefects ? the power to fix food prices under 1 Executor Trustee Chartered 1822 The Farmers' Loan and Trust Company Nos. 16,18, 20 & 22 William Street Branch Office, 475 Fifth Avenue New York. LONDON, 15 Cockspnr St.. S. W.; 26 Old Broad Street, E, 0. PAEIS, 41 Boule-ard Haussmaua BERLIN, 56 Unter dea Linden, N. W. 7 Travelers' Letters of Credit. Foreign Eichange, Administrator Guardian the new law proposed to prevent th cost of living from rising too high The government wants the price fix ing left to the mayors, but the cham ber fears that the responsibility would be too great, and prefers t? put it up to the prefects, who ar< appointed directly by the govern, n.ent, which in a large measure i? responsible for the increase in th? cost of living, on account of the requisitions for the army. For example, up to July last, the number of cattle in the country had been reduced 2,?!>00,000, to 12,300, 000, while pigs have diminished 1, ?000,000, or 22 per cent. It is not as? tonishing that the price of meat and butter has gone up. At the same time the army's demands have not diminished. Every soldier gets eigh? teen ounces of meat daily. The state i.? the biggest purchaser and pays dearly for all supplies, thus contrib? uting constantly to the increase in prices. In spite of the plan put forward by the government, neither mayors tor prefect?* will be able to compel ' dealers to sell at a loss. For the first nine months of this year the ex? portation of silk and silk floss reached $4*5,000,000, which was m?.re than last year and 1011 and 1912, but less than 1918, when the figure reached S'if'.OOO.O??. Probably the largest customer was the United States, but the government did not give figures in sufficient detail to Etate positively. Kitchener is reported to have said in Athens that England would have an army of 4,000,000 men next March, and would be in a position to supply arms and munitions for 6, 000,000 Russians. Kitchener has a teputation for promising le?s than he is able to perform, and his words thus lend new confidence to the French belief in final victory. Gold held by the Bank of France has increased $n,fi00,000 to $012, 000,000. Contrary to expectations, leans have decreased in the Paris branches of the Hank of France, but increased in the provincial branches. j Advances to the state have incrcii <'cl $20,000.000 to $142,000,000. MATTY'S TEAM IN DEFEAT AT TRAPS Turkey Shoots and Team Matches at Travers Island Contest. Turkey and shooting was the pro? gramme! at the Travers Island h^me of the New York Athletic Club yes'erday. Tho appearance of a team of profes? sional baseball players on the firing line lent an additional interest to a lengthy programme. They were Christy Mathewson, Doc Crandall and Chief Bender, who are touring the country giving exhibitions. The trio borrow??! two gunners from the Winged Foo*. or? ganization, and the quintet had a ?Co target match against the home gana? i - The visitors proved to DS no match for the Travers bland eifert*. When the last blue rock wa.? trapped the Dal! players had a total of 406 against 449 liv *.! .. home team. The ?mats or gun* asrs were W. H. Lnekett, W. H. Yule, A. L. Burns D. S. McMahon and (1. J. Corbett. In addition to the team shoot, the r.-> of the New York A. C. had a club team race, live men on a side, for turkeys. The winning squad was mads up ?>f A. L. Barns, w. .1. Smith, Q. W. Thomson, K. R. Debachei and B. D. Be* i'T.rt. They had a total ot 4M out of 600 targets. Three ether teams shot for the turkey prisas. Turkeys also were the prizes in a special 100-*_trdM even I fur both Scratch and handicap ? rs. The scratch turkey went to K. J, Held and the handicap prise to W. J. Smith. R. J. Held had an interesting after? noon, as he also was the high scratch gunner in the weekly shoot. He had a total of U out of 100 targstl I high scratch gunner was Frank II;.". who won the event after a shoot off against \V. P. Delehanty. A. L. Burns took the Travers Island Cup, after an interesting "-hoot-off against R. M. Owen. W. P. Delehantv. H. S. Strine, R. R. D?b?cher, W. 'll. Yule, .1. I. Brandenberg, B. D. Bogart and R. J. , Held. The usual ties marked the other ! shoots. On the monthly cup ?eg-1 ! wero scored hy R. J. Held, R. B. De* | b?cher and Frunk Hall. All had straight scores of 25 targets. Seven gunners I scored legs on the accumulation cup. . i They were \v. P. Delehantv, R. J. Held, | Frank Hall, W. H. Yule. 0, H. Martin, 1 (i. S. Pelham, Conrad Stein and c. A. ? Brown. Fifteen gunners returned full ! scores on the accumulation cup and | each was credited with a win. They were R. M. Owen, W. P. Delehantv. G. \V. Thomson, R. J. Held. H. S. Stripe, R. R. D?b?cher, F. Hall. A. L. Burns. D. S. McMahon. W. H. I-uckstt. W. J. Smith, J. I. Brandenberg, G. S. Pc! ham, C. A. Brown and H. D. Knight. ? A novice c?ip was taken hy H. S. Strin.. i and the distance ha? dicap went to R. M. Owen. The scores of the team match be* . the ball players and the New Vi latic Club fo'low: halt. M_*a_a M.u rong a ? ??? ? IT- irr ??? \V 11 I . ?I 1 Df M ;? * ?. I. B ? M . n n Dafh a. ....si Tatti ...... M t ?, h SMITH CAPTURES ARDSLEY TROPHY Wins Selected Score Prize with Total of 116. The "last gasp" was taken bv ?? goodly number of Ardsley Club mem . tai la) Bei eral prises I for. ?nclo g one it teen*hols h ? ich A. H. Knapp won ?rith s card of '?'? -'? 70. The much cot elected score -. .. /. _ ...1..-L .. _I_ I...... U~,... fiirty-hix-noie mnii oi no, ;? ? h;* flrsl : II fer the l, ?s foll?n '?'.. ?r ? ? ? ? , 1 ? ? ? I .. ?,?.'? ' rbf?ir,|,.f,t,ship va??- we.?, won b Peres Hiter a tie, bat this play? ? v.?. |Msj foitunat- in hi StfOft I securs-.the Novomber ,???. losin? B. KeU.T in ?he ?nal i?,un?l. Palier won bv .'. and | -, |... ,.,.?,,.? ,? ? . handicap reeterday *?i(. ?, ,.t\\?wa: ? u k...,,p i .. i? i il H m >...... m n ? ? ?? ?? ?. HIGH PRICES FOR YEARLING TROTTER Delafield Pays $3,425 for Emm Magowan, a Smart Filly. High prices for yearling:? was feature at the Old Glory horse sa! in Madison Square Garden ye?terda; It was ?aid by home of the six thousan ?: present that the bidding fc the young harness horses was the be; in the last twelve years. The best price o'f the sale, $3,421 was paid by Richard l'elafield, a pron inent amateur horseman and a merr ber of the Amateur Road Driv.-r*' A? sociation, for Kmnia Magowan, 2:L'L"i from the Mount Sterling consignmen of Kentucky. Lmma Magowan : brown filly by ,1. Malcolm Forbes-Ivio lotto. Km in a Magowan's sire, J. Mai culm Forbes, was a consistent winne on the (?rand Circuit, and in 1913 wo the champiiinship of the National Hors Show, winning in every class in whic ?'he WOS entered. The filly is expedi? to make her first appearance in th Metropolitan Circuit at Gushen, N. Y. Mr. Delafield made another valuabl addition to his stable when ho bough I'atsy P., 2-.211-!. another yearling ou of J. Malcolm Forbes-Bessie Hughe? for 1,340. - ?; 'J 14',), tr. ro.. IS. t.y Brysor.? u . v :i. New V,,?.. ?;; ' . '. i .-?:. Ira Jimmy s.utt, Han?-- I sisa* UllwsakM I.M : ? . V'-.r UM Qt-Mt - it; B E. Allan, Lull gV"i . ... l.o: I"? Pel ? ? . .? . ate I. b) iv.-r I - ? ? 11 li 1'ialt. BlnghsnilMi . II I.- it! -il? J i li Blmnenthal, Hanf, rd M i . . . ? be orrai Hi i i W Qa ran l.n? ! '? , 1. I.y JUwonti) I. Ill ? Hall . Hartfoi . ; ? Ban ? li. ? li liaz?! It. ? IVilUa / -111?, N. 1 7 ' ?.. - Mi Oakland D M vi. i. ? ? ??? m... TO Ail.- lu:; ? Ai ft Uaki 57i !?? lei ii i il m?, i. br. ?-, I i? re ? ',:??: Ml?, !!? lei ? . 1 IVIIUl V ?? l.Ofr lir-t Vlrgi: 'a::. bf i . 1. r-> Hal Han 4Jllf?l.:?i. i , VV )t. HI. N. Y. I ? lilt \ U s ?;? rt Kami. Vlr Tniatj Nail, r? f . I, I y Tii? Harri \\ ?- .. . )? vv Harrey, i ttalai I Ohio I? IH), bU i' en la <i lu?.h l> ? ?7, . ? Mtniei i lli Keegan. BtrauU " I .53 . . : ' ran Berso?; 1. Il Phillip?, Uan l?-r, Maas . !.. m., 7. hy John 11 lion-? B ? S li??-? vv fa Bi . .14"" ? I. ? . 4. I -. ' Its Hi ?art: l> !'? Wsrsasan, r- i: :?? m 7? Kinn? llaf.iT?:. i. ..'?;.. Ir f . :. I y J Ma: :.-..,iri'c m ' ? -? N V 11 ? J Ml I I ? .1- V. ..." Parm, I? - 1 " I .- I 1 "' -. ? \ ? . - > flic K.rin. 1.00 , -.- f . : :? .i. vi? .-'.Im rorbes?Ljrrols; A lia 1.701 i . P. <J ?TH), Wk. f. 1 i - - B ?-'- il ..?' BJ bard Dtiets i I.**! -?-. GRANBERY IS HIGH GUN AT THE TRAPS Takes Honors in Three Events at New Rochelle Shoot. Eight members of the New Rorhell? Yacht Club and two visitors from th? Sivvatiny Club 0. A. Wylie and \V. M Wjrlie faced the traps on Ilarrisor I-:..ml resterda*" in a special Thanks giving Da*" shoot. Georg?? P. (?raiihery carried off th< honors by capturing three of the fiv? prize?. Shooting from eighteen yards r:?e, .1 P. Donovan won the distance handica? with a score of If, The scons follow: I IM biaSll?el C A Mar? 7 ' .... B 11 --..-. i 14), 47; G 1' Ors - - ? < im i J. I?. D 4? ., a V? ? J VI M I.? i,i.;.., i M ?. I I : 7. VV M VI 4 vv . r \ Maniai i ? ip i] i: e \ Ma and li . J M . : vt h II. Il; J P i. .a i 11; B II ? ? .. V. v. -.-,?. IS, W. M v. rita .-.-..?-- lt. Lcgj ?. - l r. u. wi . ? b u m, ? i. r ..-.. . - i m Ml... ?? 4 '?? ? ?! i, i- Crani - -? C a " -? .. a. vv. . - | .? ? 7.i J f Dm ? ? v | ? . . . ? v, . n. p I 1 V| -.'. ? ! Il I? :? ?- ?? ' M \ i u. .. ? ?v v| -, i a liai ? e ... Notre Dame Oets an Easy Victory v . T.v.-.-. Wer. H S*ot?i I- ,- . "i.. , i - 'v of Indiana tiefe:.', d i!,.- Ir, ? .-r.-itv Bf Tenas Ht 1 hen- to-,lav 1 ??- B BOfl <?'? '?'?'' '" ' |i.h?? fonoationi and fako r'in- arete roeponsible for 'h- vietor ?!,.? rlsitOM Miigmsn, Cofal!. Baehntati .* Fbelan oen Ih* lo*U Rergman in lh* m m ' 0 .i d for a touch POLY PREP WINS ANNUAL VICTORY Defeats Erasmus Hall in Hard Fought Game at Washington Park. Poly Prep triumphed over Krasmus Hall High School, its ancient rival, in their annual football game at Wash? ington Park, Brooklyn, yesterday, by a score of 13 to 6. Erasmus tried va- \ ilantly to pull out the game in the last ?luarter, through a series of for war?l passes, scoring it? only touch? down after only two of these plays. Quinn registered the Brat Poly touch? down in the second period several plays after a blocked punt, while Maloney added the other in the middle of the last period, when he picked up a poor pass and ran 21 yards to tin- Brasmas goal line. Fumbling was freqaeni ?>n both sides, with Erasmus ths suffi .-? r oa obi Twice ths Erasmus ? wa- ?n the m.irch to the Poly, line, when it was guilty of loOSS hai ..i the bal!, both teams played old fashioned football, with in?- Poly de-i fonce proring the stron?, a num (..-i of ? ? s--, bifl formation! pa the Erasmui players and always i - large gain , Polj ?si its heel ?le . i p..i; er ?;. P? odleton, m t.-.s mui? dle of tin- second a-njuter, when he wrenched his _rikI?- and was con. to leave ths; game. Facii school had ;; i contingent of rooters on hand, with the Krasmus Hail StUdei Bg heing led by ths .Misses Arhutis Kennard and Hs ?. Titus, who displayed vim m their ae* '. tion? of arousing th? boj i te loua cheering. Two slight Pol boys bad to bold a tight k'np on the : - rope that was attached to th? mus gout t?> pro*, ?ut it from mussing up ' th?- features of the poodle dog that was the ma.-cot of the Krasmus Hall girl : cheer lead-TS. Til" line-up follows : t Pis ; i Era M,i donal i .Li. Bouvlll? Las .I* ? . M< ? - - ,,.I. ?i. ? Williams . C . '.? ?-.n .K ?;. ? .It. T. 1 ? nd .R B . l'.ui .'4 0 ._ '? lulsin . I. H. IV .. 1 .i: H. H . M.? ?: ? ?;. .1.11. ' I - : . 1 - I . .. I. Br It SuliaOl B r ? i l: Obeatet. Dlcfclni I t deft, Bits? ir . HUittn r? n ?? . Rutgers Prep. Wins by Huge Score Rutgers Prep defeated the Brooklyn Prep t'-a.-ii yesterday at Washington Para by s ?core of M to 9, Olson, who .-tan-?'.! for th j Eraamus Ball oleren, v.a* respon ibis for ths Ku'l'?:- rie* tory. Hs SBSashed his way through the { line, circled the ? ads for long runs and often get in ciose enough to tackle B runner. He scored three of ths touch* ' downs and kicked four goals. Broffc-, on a forward pass from ? ? ? - o n, tali.ed the other touchdown. The line-up foil? i; .-???- r-;-- ... ??- | IV ? .1. B.H. csriln -?:. 1 .1. T . N Mill?.I. ?; . P 1/ ? II.muni .'" . .ii ?; . '. intr .,: r. -..n._ , Isrolt? . Cf. H .I. H ii.v I ?' Mo. ils. . . i, i , from t'Hjrti.lo? I - -. for A Kiat. I'flirlls fi.r * . Hsl|r'- It ? . -? Laplante Chosen to Lead Williams Ht ; Pittsi.eld. Mi.-- , Hot, U. Albert A. Laplaate, of Williamstown, Mi ?*.. eras d eapteii .>: thi w llliam ? ollegs j football team foi I lit at .. meet ! the ssjuad In La im this Imoraing. Laplaate, who .. junior, I ha? been s star mombei "f the Varsity for two year . playing snd and ?,uar ack. ! ear b< rs rated m All*Kew ' Kngiand end for his oondorful ?or-. beta on the offence an : l, foBOO. Be ... - <?f his team's unf. . verses this f.-.ll b< I.?- aot bad an op? portunity to shoo I ? real worth. He r" - ' ' sltornatolj si and and ..uaru-rback throughout the station. - ? may be financed through our Foreign Department, which now has in Amencan creased facilities for the handling of Transactions this business. Manufacturers and merchants having interests in South America are invited to avail them? selves of this service. The Mechanics & Metals National Bank OF THE CIT"i OF NEW YORK I* NalBSAl *"TBK*BT Capital, Surplus and Profits $14,000,000 Of Interest to Tax Payers The Personal Property Tax in New York County for 1916 it estimated at about $21.20 per $1000. Certain bonds secured by mortgages recorded in this State may be exempted from subse? quent persona! property taxation by the payment of the Mortgage Recording Tax of $5. per $1000. i .-? Hit of thete bond? in booklet form uill be furnished upon requett. United States Mortgage & Trust Company Capital and Surplu?, $6,000,000. Broadway at 73rd St 55 Cedar St 125th St. at 8th Ar*. j MONEY SCARCER? DISCOUNT FIRM American ExchMfC QuU In Lon don?Stock Exchange Trade Cheerful. I o? dor, No?. ?. Money wan scarcer and discount rotes were Amer to-day. \n;l(T\ . .-,. wa? du I. with cab e tranifen qo.i st 4.7" ?-. * onsol* '?,;..-,l [^higher, at 59; the new war lour. \ higher, at '.'.'a- _._,,._,.* /UoerieOB ?ecurities were neglected ovvmir to the b?lido"* in New Tort r?n?d::., Poeiflc oos a firm and active tin? "** llfW on t^ ?t?cJc Kx; chance, bat the tone was cheerful as a ? of the Creek reply to the Allies. The proceeds I the realizing on he aecoriti*? recently protected by t ne minimum are now being invited in the war loan and consols, both of which ?ore seties sod e*oom. 8^?? colonial Stock?, American bonds. rOO -,?.,- :.;,:. - ?ad Kaffirs aloe changed hands. Basin?** otherwise was meagre. Toe Bunk of Krigla .d to-day exporte. ?57 000 in sovereigns to * anada ami earmarked C60,C*00 for miscellaneous ..,. Money loaned ot 4 to 4 i per i-''i?'. Dlseeont rates for short snu three months' bills. :>U per cent Gold premian si Lteooa was BO. Pans, NOT. 21. Trading was quiet OB the Bourse to-doy. Three per cent rentes cloud unchanged at M "ran? M eentimes. Exchange on London, -. frone* SO**? centimes. London closing prices: I -, V T. ? - EqulTs- , ., No? 21 l lint?. ....... , ' ?* -? ;. *4 , , .< . - ? - ? .' ? ? - I? 15 i ? ::1? .:. ... ? ?-??-? a ? llllnnl, C-atral 115 MS ? ? I I ' '? - - .- ' ' ? , rk ???rural - ? % O W(*lfl . ? ? ? a natal rn. i ? _ - ? s? -> 4 . .1 - . , . -. i''- I , . 4 '? M ? IT? - 'a M. S ST. L. R. R. REPORTS EARNINGS A RECORD The "?iaaeopoli* i Bt Loois toll road Company reporta for the fiscal year ended JOO* 10 lost the largest ?-re earning* in it* history. <if the ".i increase |472?46, or 6.62 per. c.nt. eras ?n receipts from freight .. .-i.,- ; ,.. .. ?er reeeooe? remaining practically nnehaaged. Th* yenr's_total operating reeenoos were ?iu.111,1173. Net transportation revenue? overea? pense- and taxe?, amounting to $'J,743, SOS, ? M86.176, or r.'.'.'-r' per .-. ? L BOd >'*'?? r th? payments of all .-,,! othei charges there remained e lOrplOS f?r ths year of $186,60S, as '??licit the previous year of :?-?. "There has recently developed," say? Newman Erb in the r?p<-irt, ??a decided manifestation by th* public D ..: ths unsatis faetoi condition into which the re I 'he country are being forced by being compelled, ?n the one hand, te pay the iocreose in cost of operation, <>:' higher ?rages, and of g the burden of national and ? ? . ?he employment ery labor, and on 'he other being mode to sell their service el norerauneratiT* rotas, forced upon li and ??t?te commis "It la believed, therefore, when tl.e-e important questions are more fully nndi rstood the public will look i ' the common seas* of the matter and demand tlui* i.'i.-*-er justice be accord . d ,; n th* matter of per? mitting them te sdjasl their rates in ? .. ' i the I ?? ' loOB under which they operate?" !)l\ IDEND NOTICES. ItlKKiM \ \ KAPIII TRANSIT CO. Nil..?. T' ? I. ? ? ? rrntua ? I this ? - :i?s? on l!>ll ,_ li: ret err. NORFOI l? a il l ?I I l(v KAILI? \1 tu. - ! a ajuar ?? - . ? ????. i. ind II ? I I't ?>nt. -, ? ? ?- ? . . Da -. -r :-. - .- rr(tat?rad ??. Al.l'KN >?--????? meeting: 1,1:1.1.1->I'liiM.i ii.i.i? tiki: ? ?>. leraof ,.. ... ii! be ? ..." or thi ; '? ? - r -n ? ' : 1 of said ? : a: d ll.i : c? ? 1 ? r this I i pal y . ? . ?>? IB? i???r valu? of th? ivmii - ? irs to 11 per shai that at *vi ry ?? ' arts? - taken or ?- iulri ?. each 1 ' ? Bl ..:-iui.|?r ? - ? ? . - . . !'? .':.-???: S 10 f "ir for 1 of said ? : each Bl ? h ire of the ?????? kholdei . ? - m?:. ? DU tor? ?MAN - - -.ry. , : ? ?? ?. OP STO?K lahlon Tir? 1 b* h- 1.1 . - -...,- th? ? . ?r. Ill : ? - f eli ? ?? ????. ?nd a* may ? i at 11 and re - :. .11 1 ii - I.i.x ? 1.' KJHER, _ II I I I -11 II I? MIMM. < OMI'INV. > r? of 1 h< ' ? ? John : ?: I II A. M ?' l lots U u |?AI -I 1 '.. 17... Ol I'll! ?if the I* of .N. . v ' . ..vrii, 1 . 1 Ireeta, Naa ? ? 4t|,. ; ' : UM ? >.?'!,,r, i.f ofl . ? . -ii?. tranaac . .t lh? 11 .?i.| ' in.-. : HI . :Lm UltOWNE, Baeratati-jr. Cotton in Liverpool. Usnpssas Ihn M^-4Me*si tes*?o**?"4. sa_sen Aeaet pri.-?s Mffc?r Amsrt.-s.-i b_MHbo f?t. MM: ovl middlli.f. T!ld; mMdllni. t.tAAl lois mid '"I. ??".!. f<?1 orUnsrr. ?J3"d. ordlnsrj. * OM s? ? m 000 halas. Ins-tucHng 9.?00 American and I MS f r spr.-u!stlon si?l ?iport. R***lpts. 8.100 La *?. si! AmsTtran. Kutiirss cl-*aa*i Arm, No??ir. -- " " '*J. N'i'mlw Df'ix^sr. "0341; DBSSS> t?r Jar.-iajv. TOSd; '?iiiisr-7 February. 7 12.1, Teh. rusrj Man-'.. Td: Msrch April. II?*,J. April Ms?. UMl Waj-Jiin?. 6?.*.'?jd. J'in*-JulT. ?JM'jd. July AaOBBa, IWd; AurJit-Sipl'mtisr. MMl fleptrm _r OsTtober. ItttHd; ?JsTtiibsr-N'oipmiwr. 6.?3Hd. Bank of Prance Return. Paris. No? ?". The ?-S'klf stat*m?r.t of ths Psnk of Francs shows th* folli-Mr.?, chain?? Kranrs Go'J In hand <tn-r*?u*<). :10T6,000 | Sllssr In hand idemasc) . ??".000 N'"(es In clrs-ulation ilncrsus). MJH9J99A TkSaSSri i^p-vi's id?<-r?a*s> . 13.4*1 D<?0 i.'-.-ra: J-p..?l_ liner*??*) . il. 189.000 Bills d!s<-"ur.t-?l anerrsm). I3.5JS.00O I Ad?anrr? ilncrsas?). 3T9,0s'O Bank of England Return. ISOtfMs, N ?? ? Ihi ?""? j tiat-tu?! of 9, nsnk of tii I ?: ?? ?-? ' emmj rfcai?a) TctsI rs*s?*r?? .1*.r*?s?l.'.IHM ?Mm I ?to ???S| _? item ? **M.tN M i-, ? | ?I frs*_ last ssat par csct 111 ?-.'?-.. 11 slncrraail .... Bullion ..I?.-?a* ?Mhar ?erurlt!?* IfUrrSfSl I'ub.lr dspsstti [lnusass ^^^^ i lar****? mol ?xh?r ?In?"*"? l"1' Notts P*?**??* id TO THE HOLDERS OF THE FOLLOWING SECURITIES OF | THE MISSOURI PACIFIC RAILWAY COMPANY: Convertible Five Per Cent. First snd Refunding Bonds, Four Per Cent. Gold Loan Bonds, Capital Stock, and Securities of the Other Issues dealt with in the Plan of Readjuttment In order to preserve the Missouri Pacific System from the evils ind losses Incident to t prolonged receivership the Plan of Readjustment should be promptly consummated. The property does not require the extensive physical rehabilitation or the elimination of burdensome entangle? ments and contracts which are the usual causes of long railroad receiverships. What Is required is (a) the cash (approximately $41,000,000) for immediate needs; (b) such reduction in fixed charges as will bring them within a proper margin of the demonstrated earning capacitv of the property; and (c) the creation of a new security to deal with the obligations maturing during the next five years (approximately 579.000,000) In so far as they do not fall within the cash provisions of the Plan, and to provide for future corporate requirements. .Manifestly these results can be accomplished only by an earlv reorganization, snd to this end the prompt co-operation of the holders of the various classes of securities affected by the readjust? ment is essential. They are accordingly urged for the protection of their own interests and in order to insure the early restoration of the property to the management of a solvent company to deposit their securities under the Plan of Readjustment as promptly as possible, and II any event on or before December 15th, when the time for deposit under the Plan expires, and after which it is in? tended to proceed actively to carry the Plan into effect. There can be no doubt that radical changes In the financial structure of the Company ? called for in the Plan of Readjustment are essential to secure the needed results. Although the anticipated improvement in business should result in better earnings than those of the last fiscal jrear, which failed to meet the interest charges by about $1,250,000, the margin between earnings and tixed charges which is absolutely essential for the restoration of the Company's credit cannot be assured without the reduction in interest payments sought to be accomplished by the conversion ot the Convertible Hve Per Cent. Bonds and the Four Per Cent Gold Loan Bonds into preferred stock (or income bonds). Under the Plan the stockholders provide the $41,000,000 of cash for immediate requirements without imposing any burden upon the holders of these bonds; for while the stockholders receive a four per cent, bond equal in face amount (but not In market value) to the cash which they furnish, the position of the holders of the Convertible Five Per Cent. Bonds and the Four Per Cent. Gold Loan Bonds in relation to earnings Is not disturbed In any material de? gree because upon the consummation of the Plan the charges ahead of them upon the S\stem taken' as a whole are not augmented while the net earning capacity of the propertv should be substantially increased. The attention of holders of the Missouri Pacific Four Per Cent. Gold Loan Bonds Is called to the fact that default has been made In the payment of the Interest on the Iron .Mountain Com? pany's First and Refunding .Mortgage Six Per Cent. Bonds and that proceedings have been insti? tuted to foreclose the mortgage by which those bonds are secured. Their attention is also called to the importance of preserving the traffic relations between the Iron .Mountain and .Missouri Pacitic Comptait*. Copies of the Plan of Readjustment and of an analytical statement relating thereto may be obtained from the Readjustment .Managers, any of the Depositaries or Sub-Depositaries or the Secretary of any of the Committees. The Certificates of Deposit for Convertible Five Per Cent. First and Refunding Bonds, for lour Per Cent. Gold Loan Bonds, for Trust Five Per Cent. Bonds due 1917, for First Collateral Mortgage Five Per Cent. Bonds due 1920, and for stock, have been li*ted upon the New York Stock Exchange. About 40* of the Convertible Five Per Cent. Bonds and 40% of the Four Per Cent. Gold Loan Bonds have already been deposited under the Plan. New Vork, November 24, 1915. ALEXANDER J. HEMPHILL, Chairman, Five Per Cent. First and Refunding .Mortgage Bondholders' Committee. KUHN, LOEB & CO., FRANK N. B. CLOSE. Chairman, Readjustment Managers. Forty Year Four Per Cent. Gold Loan Bond? holders' Committee. JAMES N. WALLACE, Chairman, Stockholders' Committee. Why American Bankers Believe in the Anglo-French Loan Government sexuriti? have always ranked as the safest investment of the world, and this loan is the premier security of the two countries which for centuries have been among the greatest financial nations of the world. The security for the payment of the principal and interest of this loan is greater than can possibly be offered by any municipal, railroad or industrial corporation in this or any other country. The purchase of these notes on a yield basis of nearly $*4% is one of the most notable opportunities that current epochal events have created for the investor. Send for circular AFL I It epitomizes the investment features of the Anglo-French,Loan. William P. Bonbright & Co. Incorporated 14 Wall Street, New York Philadelphia Boston Detroit London Paris ?ilium P. Bonbright & Ca. Bonbri|ht k Co