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i Phone, Rector 500o ? JosepMlial & Cd !20 Broadway, Wew York Mrmber? "Yeto York Stock KxcTxang* Private Wires to Principal Cities Direct Obligation of one of the largest and most successful packers in the world?net assets over 5342,000,000.00. SWIFT & CO. 7% Five Year Gold Notes Price 97% and Inteesl to Yield Orer 7.60% Ask for Folder T. E. Holliste'r, White & Co, .H?C?Pf?t4T-?f 92 Cedar St, Cor. Trinity PL NEW YORK r. -ti'ii l*liilad?!li>hi? i Bp?T*ab***at\?37f fei : ? ? ?5^* y a safe and tal le investment ? recommend the City of Copenhagen 3%% Bonds of 1902 actually giving an atera?* yield of and owing to the preamt low rate o? exchanga an additional profit of over 85*% may be real? ized, -when ttnic reach?? parity. A<\ ?or Circa.** s ",?ur inquiry ?? al?o rant?. BRITISH FRENCH BELGIAN GERMAN nnd other Eu?otmmu? Uoads HUTH & CO. 30 Pine Stre?t, New York Telethon? JeJu? 6?14 A ' general international commercial banking busi? ness transacted. Principal Branches Brussels, Belgium Bueno? Aires, Argentina Harbin, Manchuria Havana, Cuba Manila, Philippine Islands Panama City, Panama Port au Prince, Haiti Rio de Janeiro, Brazil fc'anto Domingo, Domini ran Republic Cali, Colombia Agents and correspondents in all the other important commercial centers of the world. 'AMERICAN FOREIGN BANKING CORPORATION 53 Broadway, New York Capital and Surplus $6,500,000 WE RECOMMEND j New York, New Haven & Hartford R. R. Debenture 4s Due April 1, 1922 Price about 831 i> to yield nearly 17', McChire, Jones & Reed Hem) en *\Vw York Stock I?\ehanf<t. 115 Broadway New York Telephone Recht 7662 Investment Information .?___.?^ .?__ ? ? Question* of general interest to in? vestor* will be answered in this col? umn, in which case only initial? will be used. Other* will be answered l'l/ moil, Address nil inquiries, inclos? ing a stamped, addressed envelope, to Financial Editor, The Tribune, 154 : Nassau Street, S'ew York City. Mother Lode-Nova Scotia Question?Kindly Inform me If Mother Lode Copper ?Company, old, is a profitable producing company, also Ita asset? and liabilities ami Its connection with Mothoi Lode ne?-. Also please Inform mc about NoVa Scotia Steel and Coal, Ita commer? cial und financial standing and how l??ng the company has paid dividends.? S. B. Answer On May 1, 1910, and in nc , cordance with the terms of an arrange? ment entered into with Stephen Hitch, j president of tho Kennecott Copper : Corporation, the Mother Linie Coalition .Alines Company succeeded to the prop i erties and business of th? Mother Lode ' Copper Company of Alaska. Transfer I of the properties to the new interests j was ratified by stockholders of the old company July 15, J91S. The capital stock of the Mother Lode Coalition ; Mines was fixed at 2,500,000 shares of i:,i par value. Of this Kennecott in? terests received 1,275,(700 shares and are entitled to elect four of the seven ; directors. Mother Lode stockholders were entitled to stock in the new com? pany on the basis of 1,633 shares of Mother Lode Coalition for each share, par $10, of Mother Lode. The prop ? rty consist?- of eighty-three lode and placer claims, comprising about 1,640 acres of copper ore lands in the Copper River district of Alaska adjoining the Bonanza mine of the Kennecott Cop? per Corporation. The ores are chal socite. The Noval Scotia Steel and Coal Company, Ltd., holds crown leases on over 91^ square miles of coal acres, including limestone and dolomite properties, at Capo Breton I N. S., estimated to produce 2.500,000 j tons of coal per annum. The company owns in fee simulo or by crown lease over 80 square miles of land ; and submarino iron ore areas in New? foundland, near which are located ore -hipping docks with loading capacity of 6,000 tons per hour and served by ore pockets with storage capacity of 70,000 tons. The company also owns 65,000 acres or" timber lands and about 8,000 acre, of freehold lands in Nova Scotia and Newfoundland. Cash divi? dends on the $15,000,000 common stock arc being paid at the rate of I!, per, cent each quarter. L. R. Steel Stores Stock Question?, have been approached by .men who rei resent the t.. Et. Steel rvice Corporation, who claim that this npany Is opening a chain of 5-cent to stores throughout this country, Canada Engin n !. l'hey ai ?? ofl cring I he pre ? .?rred stock . ? L00 : r share, pay Ing 7 per cent cumulative divider ving, they say. as a bonus one share of Ihe com? mon with two of th? preferred. Will you give n > :i i Ins vent ure, also ' he bable earnings ?n th? common, the men running It and the safety of the enler I und? i si.i nd t hat the si oclt Is not i Id through a broh i r, that t he company Is selling it through their own ? al? s force.- M, G. 1 >. Answer? In our opinion the stock of tho L. R. Steel Service Stores is too speculative for investment pur? poses, principally because it has not as yet proved its earning power. We do not know whether there is going to bo so much money made in retailing in the near future as there has been in the recent past.. Wo doubt ?f there v.-ould be a satisfactory market for the stock if you bought it. Sinclair Attractive to Film Quofitlor.-r-I am thinking of buying a few shares of Sinclair Consolidated. How Bate an Investment or speculation l? it? it is quoted now at about 24, while last winter It was about 47. What Is the pur value ni this stock? What dividends have thoy paid in th" past? ?>o you consider thoir prospects fur business success good? ? F. S. Do S. Answer - Sinclair Consolidated has had about a 10-point recovery from the low of last August, so from a speculative standpoint the chances oi making a profit from the current levels are less to that extent. The company, however, has put millions into its prop? erties for new developments and addi? tions, and the officials state that defi? nite results are now being shown to a 'Handsome extent. The company 1 a not yet paid a cash dividend on the common stock, which has no par value, So far as we have been able to learn, ] the company's prospects are new b -t ter than ever before because of tjie enlai g< ment i ' I ies. That is a speculttive matter, you must remem? ber. T;?e stock is not yet an invest? ment. Highest Yield French Issues Question?] should like to know the name ?if the French Internal bond which ;?' present prices will yield the highest rat?-' of lnt? r< st, the nai ?? of the !'i nch external bond yl ling h ;hesl rate o? In-' ? terest and whet h n I hey are equally n | tageous tu an American investor?- -J. B. 1.. Answer?The French Republic in? ternal 5 per cent, due January 1, 1931; , internal 4 per cent, January 1, 1943, ? and the internal premium ? per cent, 1980, yield Ihe most, while the French 8 per cent loan recently issued yields I most of the external loans. The latter is a better investment for an American because it is an external obligation ?and is not subject to exchange fluctua , tions. American Public Service Ronds Qu^st Ion ! ?" y? i coi 1er ns c insi rva tlve Investments American Public Service Compa uy llrsl lien '; per eenl gi : boi Is Tlmkon Dotroll ?.xlo Company 1 per eenl cumulative preferred stock, ."ires oi and Rubber Com] tnj .' per eenl cumu lath ' prof? i r? d si o? K '.' Can > m indi _a I e a fair market price? Can you s iggi I thors ,: tho same yield, of long maturity'.' VS. u. r. r Answer?American Public Service Company has shown a steady increase ? in earnings since 1913. The net bas | risen from $120,647 to $480,997 in 1920. Interest charges, including the 6 per jcent bonds and the secured notes, are being earned more than twice, thus giv? ing the bond a very fair rating. Both i Detroit Timken preferred and Fire ' stone pref? rred are well enough se .' cured at present. Companies of this sort have ^ven great prosperity druing the last three year-. It is doubtful if ! their earnings will show up so well (iuring the next year or so. These issues are not listed, and perhaps do not enjoy the best market. Consult a reliable broker for the market price of these stocks. The yield is i-:?..r._ well over 8 per cent. Most seasoned pre? ferred stocks sell to yield less than that. Steel & Tube of America 7 per cent preferred yields about 8.4 per cent, and Merck & Co. 8 per cent pre? ferred yields over 8% per cent. Both are well secured at pi ??? ent, Worries About Pressed Steel Car Question- -1 hold shares In the Pressed Steel ? .; ; Compu nj. ' for th in. Th? .'. i .. nd l v, ? 11 k e y ii _ furl her y of th. \ . '. S Answer Pressed Steel Car common We do not advise __uch _ks for investment purposes. They are sensitive to earnings and during the presenl period of deflation such ks are inclined to fluctuate to a great extent. We 'm;ow of no present reason for a reduction in the dividend on Pre sed Steel Car. For investment we favor tl e ? r< f? ?red. Worry is part of the price yon pay for the chance of appreciation. We are inclined to doubt ? is worth it in a great many cases. Four full columns of in vestment questions and an steers are published in The \ Tribune every Sunday. An Active Demand There is an active demand at the present moment for Municipal Bonds >villi a "tendency toward increas? ing prices. We have a list of isiucs which are free from the Federal Income Taxes, and con? stitute an ideal investment for individuals or institutions. I hese bonds passed the severe test of our thorough investigation lie fore we purchased them. Write for our list of Munieipcil Bonds Yielding 6% to 6.25% Spitzer, Rorick & Company Established 1871 Equitable Bldg., New York Toledo Chicago $75,000 STATE OF SOUTH DAKOTA Coupon 6s Due: $50,000 Oct. 1, 1933 $25,000 Oct. 1, 1934 Price to yield. .5.50% Full particulars of this issue and our latest list of Municipal Bonds will be sent upon request. J.S.Bache&Co. ESTABLISHED 1892 Members Xew York Stock Exchange 42 Broadway New York Legal Investment and ??Tempt from all taxation in tlio Slate? o? Xew York. $100,000 Nassau Co., N. Y. Coupon Bonds Due August 1, 1928 Price 100.97 and Int. Yielding 4.85% Descriptive rlrvnlar T-15 on ?.'?wine ??? othrr tas excmiit i-vurf. J-ielfllns; 4-80?j 1o (i"i> lie.ni Oil r?ijiifihl_ aWOODMllflEU) Specialists ii?l Iunicipal bonos PHONE 9797 ReCTOf* A 135BRQAJ3V/AY NEW^fORK Exempt from Federal income Taxes State ot West Va. Twenty-Year 3%% ' Sinking Fund Bonds Due January 1, 1039 I his issue of bonds con? stitutes the only funded in? debtedness of the State of West Virginia. Complete description and price upon application. Members New York and Pittsburgh Slock Kxchangc? 33 Pine St. New York Union Arcade Bidg. Pittsbiirs? A Serviceable Stock & Bond Register in which your securities may be conveniently listed, is avail- ; able for your use. If you will send in your list of securities, we will enter them j for you, with full information regarding interest and dividend I rates, dates of payment, and! other pertinent facts. The Register will be sent promptly without obligation. George H. Burr & Co. Investment Securities Equitable Building New York ? ?:' s In IB Cute;? Offer Yuu h National Ye! A Persona! Service Manual of Sugar Companies We have prepared a handbook of the leading producing and refining companies, which pre? sents in convenient form fig? ures on financial position with description of property and management. We suggest that investors interested in sugar securities make application for pamphlet No. 75. We invite your inquiry nn Acadia Sugar Caracas Sugar Cintrai Aguirre Cuban Amer. P?d. Fajardo Sugar Federal Sugar Holly Sugar National Sugar Savannah Sugar New Niquero South Porto Rico 8% Preferred West Indio Sugar 8% Preferred Atlantic Fruit Co. 7% Debentures Cuban American 6% Notes Brokers in ratu G* refined sugar 133 Front St. (Cor. Pine) Telephone John 6428 Investment Specialists in Securities Sugar Stoeks 7 ? J.K.Rice Jr.& Go.Buy& Sell r ? Ala ?l?( '.a JJa.-ial"1? Home fas. er o Singer Mfg *?&* J.K.Rice,Jr.&Ce. Phones 4000 to 4010 John. 2C Wall St . N. Y. Evansville & Terre Haute Cons. 6s 1921 Gen. 5s 1942 Ref. 5s 1941 Sullivan Co. Coal 5s 1930 Chicago <& East 111. Cons. 5s 1937 Cons. 6s 1934 Ref. 4s 1955 Rec. Ctfs. Missouri, Kansas & Texas Gen. S. F. 4i?s 1936 Extended Notes Dallas & Waco 1st 5s 1940 Mo., Kansas & Eastern 1st 5s 1942 M., Kan. & Tex. of Tex. 1st 5s 1942 St. Louis & Chi., 1st 4s 2001 25 Broad St., N. Y. Phone 7160-1 -2 Broad WE SPECIALIZE IN ArffPiilliii' fis Belgium Gs British is & Ss Chinese 7?s French is & C>* German Government ?! i .1 ;">* (?orinan Municipal 4s ?V 5s Italian 5s ?Japanese is & 4%s Mexican is & Bs Kusslan 7?1 ^s A (i1 .os Dirt ' ' Importa s of ! .??? , 1)1 S ' ili Investment Securities ?43 Exchange Place, New York. h . - :?". Hanover Union Carbide & Carbon Rts. New Jersey Zinc Ris. Kelly Sp. Tire Rts. Amer. Tobacco Div. Scrip Tobacco Prod. Div. Scrip Specialist? t>; ail Divid? ? d Rights C. C. Ken* & Co. 2 Rector St., N. Y. Phone 6780 Rector Goodyear Tire & Rubber Com. & Pfd. Gwynne Bros. Members Wcw York Stock Exchange TtX. Broad 5270 25 Broad St., N. Y. ?. Y., N. H. & H. Deb. 4s Tenn. Ry. Lt. & Power Pfd. Bankers Trust Co. McCLURE.JOMES&REED tt.mb+rt i.ew York Steck Bzchu?c. Executor Trustee Chartered 1822 The Farmers' Loan and Trust Company Nos. 16, 18, 20 & 22 William Street Branch Office, 4.75 Fifth Avenue At Forty-first Street New York London Paris Foreign Exchange Administrator Guardian Member Tecleral Bo?orTo System and Now York Clearing House "W Wanted! People who are tired of putting money into oil wells on the strength of a blue print, to invest in a security, paying 6$, guaranteed as to interest and prin? cipal, backed by first-mortgages on income-earning New York real estate, and sponsored by a Board of Directors familiar with realty conditions and versed in realty values. We have prepared a booklet describing Prudence-Bonds in detail, which we will send without any obligation to you. We pay the 4% Normal Federal Income Tax Ask for Booklet G-73 "Realty s\ssociatesf hive^?ment Corporation 31 Nassau St.,New York >?162 Rernsen St, Brooklyn Denominations of *ioo, $500 and *looo Guaranty Trust Company of New York, Truste? of Th's Isaje Stone & Webster INCORPORATED 147 Milk Street 120 Broadway 33 So. Daarbor? SV BOSTON NEW YORK CHICAGO EXAMINATIONS AND STUDIES of Industrial and Public Service Properties REPORTS an Valuation and Operating Efficiency _???sa?aHna?BiiHi-?-t???i-m_ia??_iM?--|i m _.?___-. a il PRICHITT&OQ Members N.Y. Stock Exchange SIXTY BROADWAY NEW YORK CITY L Singer Manufacturing St. Croix Paper West Va. Pulp Se Paper FREDERIC H, HATCH & CO. 74 liwayNV ~:?\/ >.::<H-; ;._.}- Tel Rector6340 WIRE. CONNECTIONS BOUTON. CHICAGO. PHIU .MONTREAL, PITTS_.U__Gr_ TVHte Dept. 10. Members New York Stock Exchano* 71 Broadway New York City I. M. TAYLOR & CO. Incorporated INVESTMENTS 7 Wall StTee. Boft.on CI. .?land Philadelphia Plttsbnrsb HARRIMAN NATIONAL BANK Fifth Avenue & Forty-fourth St. New York Staking Hours from 8 A. M. to 8 P. M. Safe Deposit Vault? 8 A. M. to Midnight Bonds for Investment Harris, Forbes & Go fine Street, Corner William. , NEW YORK S LIBERTY BONDS All denomination., bought for cash. Based on th" closing we pa;r : $48.02 for a 850?..?._?'? Bond. 54 Coupons *44.87 for a $?<>?id .?..o. Bond, No Coupons $44.00 for a $7.0?3d l%% Bond. $4,. TO for 11 S-f)?m h 4'??;?'. Bond, 1 Conpon $4?.719 for a $50?5th 4 .4*. Bond. 6 Coupon? PURDY & CO. _>!. John 3174-6-6-7. 34 Pine St., X. T. ANDREW .'. McCORMACK, Auctioneer. REGULA i; Al'i , '"?' '; 7.7 STOCKS \M> BONDS IW ADRIAN I). M?LLER & SON, OFFICE, f>5 WILLIAM STREET, WEDNESDAY, OCTK. 13TH, l'J-0. al 12 i .. at the KXi ?HANGE S \ 1.1 *.-''.< iOM, NOS. ! I AND 16 VESEY STREET. For Ac? ounl of Executors: $2 000 Peopli 's Gas, Ught & Coke Co of Chicago 1st Cons. Mtge. 6*7? Ud-?.. 17-17. 1 oon sha. Excelsior Zinc <& Lead Co. 140 shs. Consolidated Anthracite Coal: ? !o, r,n shs. Eastern 1 earl <"o. 4 8-10 shs. Dairymen's League, Inc. 300 shs. Monaton Mining Co. B00 Bh . Ex ?? : ?" - Zln ? & Le id Co. For Account of Whom it May Concern: 1,000 shs. Anno Phonograph Motors, Corpn. 600 shs. Cuyuna-Superior Tvlinlm; Co. 600 shs. Federal Development Co.! Prefd. T. ?". 240 shs. Federal Development Co. Com? mon T, C. ?IS.000 Clinton Gas 77- Electric Co. 1st Mtge. rjrts. due Jan"y, 1937. 250 shs. New York Rake-Rite Corpn. 100 shs. Se ieca i lu : m ' 'o Prefd. $3,100 Ni .v Ji ' ?" ? lompany 1st Mtge. ''?'? S? ri s "A" B mds ; ?36 $15,000 New Jersey Company 1st Mtge. 6T? Serles "B" Bonds, 1036, & $50 60 shs. Allen Sales Service, Inc., Coin- : 100 eha Allen Sales Service, [ne, Prefd. $40,000 l'iii-i. Dye .v Chemical Corpn. 63 Adj. Mtge. Bds., 1923. Dec'r, 1918, Coupons. 100 .shs. l'athe Fr?res Phonograph Co. S% Cum. Prefd. 10,162 65-155 shs. Permutlt Co. Common. 590 50-155 shs. Permutit Co. Royalty et is. 50 siis. Akron-Overland Tire Co., Inc., Comn ..il 100 s'::-. Pathe Fr?res Phonograph Co. 7 . P 1,000 shs ' dt Silver Queen, Limited. 7 ; . : A merli .i. 50 shs. ( "?. ?? n Leat her i '?>. Prefd. 3,332 shs, New Garden Coal .?7 l>?>velop ment ? '?>. ?00 shs. Interborough Rapid Transit. 3,413 shs. Lehlgh Power Securities Co. ? lotnmon 57.1 shs, T? nnessee Railway Light ?S: I wer ? !ommon. 50 shs. Beuedii t Stone Corpn. Prefd, 150 shs. Ben diet Stone Corpn. Com iiii m, 23 1-3 shs. Carolina, Cllnch?leld & i ?hin R'way Prefd. 50 shs Oriental Bank in ll?iu!dation. 3 100 -:.'j. Canadian G isoline Corpn., Ltd. : Receipt (or $3,000 Second Consl'd Trust Bonds New Mexico-Colorado Coal & ng Co. &. $16 for assessments paid. i Investment Securities Newburger, Henderson & Loeb Members N.Y. or Phila. 5(oc)? Exchange 100 Broadway, N. Y. Rector 7060 Chandler t Company .?co*p?,JA-r**t? 35 Pine Street, New York PhlladrlphU Boston BANCO NACIONAL ULTRAMARINO The Stale Bank of the Portuguese Colonies New York Agency, 9.1 Liberty Street Hf.id Office: Lisbon, Portugal. BROWN BROTHERS & CO. K?.tnbl!?th*d l?i . Philadelphia NEW YORK Boston Investment Securities Foreign Exchange Deposit Accounts BROWN, SHIPLEY & COMPANY r.-tulillshrd 1810 I^ound^rs Court. Lothbury Offlc. for T-a.?;_r, LONDON, E. C. 123 Pall Mall. LONDON A Survey of the PRICE reductions by lead- we have prepared a circular ing automobile manufac- which thorough!}? analyze? turers is the natural conse- present conditions and future quence of contraction of pub- outlook, lie demand. Over-expansions . by many companies; credit " a1.80 contains a thorough restrictions and general reac- treatise ?\ a11 phases of the tion in business has brought situation; important and vital the automobile industry com- statistics on the industry as a panics face to face with an- whole, and on such individual other readjustment. Primar- companies as? ily a new industry, among those of first rank, the motor General ?Motor?. business is feeling the effect of growing pains. Studebaker Chandler Motors Out of the slump the stronger . organizations will come forth White motors stronger than ever. With the ?HJUDD Motors idea of pointing out such rr companies as are securely en? trenched with diversified bus- Copy sent without obliga iness and standard product, Uon _?j? jor y>. T-S9. M5S*.Wolfe ? Co. ~ ESTABLISHED 190S ."Members Consolidated Stock?Fxcheng?. of.??? 41___?R-OA_D STREET?_VE_WYOI2K__ Pino ne'Broad 25 America's ablest tobacco man says never affect the tobacco industry It is one of the few Industries in the United States which grows stronger and more prosperous every year. Government statistics show that this growth since 1915 has attained rarely phenomenal propor? tions. If you own Tobacco securities you know from experience that your investment has steadily grown in value and that your dividends have been con? stantly growing larger. If you are interested in Philip Morris Tobacco Products Export Corporation United Profit Sharing Corporation Communicate with us for information concerning pending developments of an important character. Bamberger, Loeb & Co. 25 Broad Street New York HUGHES & DIER MEMBERS Chicago Board of Trade Neta York Produre Exchange Philadelphia Stock Exchange Pittsburgh Stock Exchange GRAIN PROVISIONS NEW YORK OFFICES 42 New Street Telephone Broad 5140 509 Fifth Avenue Telephone Vanderbl'.t 0?S3 67 W. 125th Street Tcleiihone Harlem S6S1 PHILADELPHIA PITTSBURGH CLEVBLASD .... Walnut St. Arrott Bldg. {?_ Euclid Avenu? TO THE HOLDERS OF TWO RECTOR STREET CORPORATION FIRST MORTGAGE 15 YEAR 6-. SINKING II Nil (.Oil) LOAN* CER? TIFICATES DUE APRIL 1. 193.->. Notice is h-reby given, as provided in Article XII of the mortgage dated March 7'., 1920, between '7-.v.? Rector Strei poratlon and Guaranty Trust Company of New V.irk. Mortgagee, that offers will be received until 10 o'clock A. M. on Wednes? day, October 70, 1920, at the offlce of the undersigned. No. 140 Broadway. New York city, for the sab' to It an Sinking Fund Truste?', at. the lowest pries, at which such certificates shall h<- offered, not ex? ceeding 103ft of par and accrued Interest. ites in such amount as will ex? haust the sum of Twelve Thousand Five Hundred Eighty-three Dollars cents ($12,683.33) on deposit in the Sink? ing Fui !. Offers should bo endorsed "offers to the Sinking Fund of Two Rector Street ?"..r poration First Mortgage 15-Year C"7 Sink? ing Fund Gold Loan Certificates" and sh??uld be addressed to the TRIST DE? PARTMENT. Thi right la reserved to re? ject any or all o(Tts in whole or in part. Gl'ARANTY TRIST COMPANY OF NEW YORK. By: CHARLES H. S.vrilN* President. Hated "New York, October 1th, ll?20. DIVIDEND NOTICE9 KELLY-SPRINGFIELD TIRE CO. The Boar: of Directora has thin <uy ta? il quarterly cash dividend of Oe? C$1.00) per share and a quarterly Stock Dividend of Three Per Ont ?3"?> ?? Stock of this Company. P?-'" able In Common Stock "f this I'ompsn?. payable November I, ItSO, W ?"v?* holders of record at the, cIom of bui'.nt*' October 15, 1020. F A SEAMAN, Beerst** Dated. New York. October 5, 1?20. OFFir-D OF THE United Ga$ Improvement Co. N. W. Corner Itroad and Arrti *4tr?*<? Philadelphia, Septombar I. !'*? ? The Directors have this day decUrsa ? quarterly dividend of two per cent. (?' per share) on tlo Stock ?>' iKJ~ Company, payable October 15, 1?J0, ?~ holder? of Coran on Stock of record ?* " close of business September 30. ?'?*' Check? will b?, mailed. 1. W. MORRIS, Tre*???***