OCR Interpretation


The New York herald. (New York, N.Y.) 1920-1924, December 01, 1920, Image 15

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045774/1920-12-01/ed-1/seq-15/

What is OCR?


Thumbnail for 15

r i"
Icrbell Brothers
?, public Utility &eruritiea ' j
111 Broadway, iNetu fjurli
We Specialize in
t Brooklyn Luison Co. 7s '
; Clevel'd Elec. 111. Co. 7s
} Consumers Pwr. Co. 7s
, Denver Gas & El. Co. 7s
j Galv't'n-H. El. Ry Co.7s
| Great VY t. Pwr. Co. 8s
Hartford Llec. Lt. Co. 7s |
1 Idaho Power Co. 8s
Lehigh Pr. Sec. Crp. 6s 1
Middlowest Util. Co. 8s
I Ohio Cities Gas Co. 7s
| Union El. Lt. & Pr.Co.7s
f Utah Securities Crp. 6s
I'liUllu Iteclor U080-A, UTiH'1, Mm-!
I Private Phonos to Phil ult4phl:i & Boston.
r . =
! 8% Gold Notes
| Yield 8.55%
i
-^EW and well se* '
cured issue of a
service company with
large and increasing
^ earnings from electric
light and power.
Company owns and
operates modern
steam and hydro|
electric plants ser[
ving prosperous ini
dustrial and agricultural
districts.
Denominations
$100, $500, $1000
Ash for descript-tie circular N H-62
fLM-ByllestryGCa
Incorporated
III Broadway New York
Chicago Provident SmM
I
Lsx i -11
A FIRST
MORTGAGE
j i
Railroad Bond
Industrial Bond
Public Utility Bond
An equal amount invested
in each will give, at presj
ent prices, an average
yield of better than
7.75%
Inquiries Incited
prince $c UHjitrlg
Established 1H7S.
Werners New York Stock Exc^anle
52 B'oaHwav Tel. B-oa ' 6323
/ mate vires to Phila.. I Ins'on, i
Buliimore, Ulchmoiut. A'rv Haven,
1
[!]l Amer. Chicle, Com. & Pfd. 1
t Amer. Cigar Stk. & Fractions u
i<] Amer. Light & Tract'on (H
fjj Borden's Co., Com. & Pfd. rtj
A Central Petroleum. Com. & Pfd. ^
,i?< Gulf Oil Corporation
fmperial Oil, Ltd.
New lersev Zinc Co.
in) Niles-Bement-Pond (j)
jjl R. J. Reynolds, Com. & Pfd. j)
jfl Traveler's Insurance Co. jjj
1) Bought?S Id-?Quoted Si
*3 ( ! I
Trlvntc Wirei to
J MARTFOKI* MONTHS VI, If
, CIIKAOO TORONTO If
f IFps?M
W | L/ Ifc HANOVIB 74re.^** 1 J ft
V/ N Y STOCK IXC HANOI W j
( K ?' ? N. tor r>? ei ,C \ (OK |J |
taMfr ids'**
U. S. Finishing
Common
LYON AND CO.
50 Pne St.. N. Y. Td. John 851
STAN D AH
StANDABD U ni.n smx'k
on, | new stock
INDIANA I -"WHEN ISS|EI?"
CARL H.PFORZHEI ME R&CO.
T'hone 4800-1-2-3-4 Broad. 8." Broa<l St., N. Y.
LIBERTY BONOS
All i?*w? <t aeiiominalio a
flartshorne & Battelle
.. tu i u//l filuck ? yt.
IS Broad St. New Yorti
Ti u phono nnOAt) 7T40. !
Odd Lots
h rlU- Kept. 14.
{hjsholm & (HAPMAN I1
iMfnhm Y'v Vnrfc Atrrfc nrrhnno ,
71 Broadway, New York City.
Mark A. Noblr Thfndiprr r. Corrrln 1
NCBLE & CORWIN
... tload at. Nit, mm I
| National Surety Amrr. C'hirN Pfd, 11
1 Guaranty Trust N lea Benie...
Irlriilinnr till I roatl
An ad vor Harmon t tn thn Loot and
found column* of TIM NEW YORE \
HBHALD off era n rent pooolbllt'y 'of j
rooovortng your loot property, |i
)
SCHATZKIN IS OUT
OF INVINCIBLE OIL
J. S. Bache A Co. and Associates
Take Over Holdings of
Thousands of Shares.
FORTUNE NOT WIPLl* OUT
Reported as Overextended in
Speculative Issues and Deal
Will Aid Him.
All of S. M. Schatzkln's holding* of
atoek In the Invincible Oil Corporation,
numbering, It Is understood, many thousands
of shares, have been taken over
after lengthy negotiations by J. S. Bache
& Co. and their associates, according to
an announcement made by that firm late
yesterday. The elimination of Schatzkln
from Invincible Oil, It was said yesterday,
does not mean that his personal
fortune has been wiped out It Is understood
that he was overextended In speculative
stocks and that his Invincible
.holdings were taken over to put him In
a stronger position to handlo the several
other companies In which -lie was interested.
That transaction. It was said
was the second In which Sch&tzkin had
Hgured In recent months, although the
details of the first were not made public.
The other, according to information obtained
yesterday, was the United States
Distributing Corporation, a large trucking
organization which Schatzkin
formed and Incorporated About a year
ago and In which he had a large Interest
His Interest In that corporation,
however, was disposed of at private sale
to others who were associated with him
In the venture several months ago.
S. M. Schatzkln has been a prominent
factor In Wall Street for the last several
years. He was heavily interested at
one time in Burns Brothers, the New
York coal dealers, and It Is understood
that he retains some Interest In that
corporation. Me was a chief factdrjrtn
the formation of the Farrell Coal Company
and Is understood to have been
the dominant figure in that corporation.
Ever since the beginning of the world
war, 8. M. Schatzkln has been considered
one of t'he biggest speculative
factors in Wall Street, and although
tho latest transaction by which his
Invincible Oil holdings are taken over
does not remove him from his other
companies. It Is understood that It does
eliminate him as an Important speculative
factor In the financial district.
E. R. Ratcllff, president of the Invincible
Ol Corporation, ycwterday made
the following statement: "Invincible Oil
Corporation's earnings for the ten
months ending October 31 amount to approximately
$6,650,000. Settled production
from all fields Is averaging 7,500
barrels a day. for which the company
is getting an average price of $3.37 a
barrel. Its refineries are running 100
per cent, of capacity, or 10,000 barrels a
day." Mr. Ratcllff estimated earnings
for the full twelve months at approximately
$8,000,000, or $21 a share on the
376,000 shares of capital stock outstanding.
The Invincible Oil Corporation was Incorporated
In June. 1919, when It acquired
a controlling interest In the
Louisiana Oil Refinlng~Corporatlon, the
Invincible Oil Company and the Gladstone
Oil and Refining Company.
Through Its control of those companies
it owns 110,000 acres of .Xee lands, oil
and gas leases In Oklahoma, Texas,
Louisiana and Alabama, In addition to
which the company has recently acquired,
together with the Standard Oil
Company of Louisiana, approximately
23.00") acres In Arkansas.
INCORPORATE DENVER &
RIO GRANDE WESTERN
Capital Stock of New Company
Is $50,000,000.
Denvijr, Nov. 30.?Articles of Incorporation
for the Denver and Rio Grande
Western Railroad Company were filed
with tho Secretary of Stale to-day. The
company will have capital stock of $50,900,000
and will take over, rehabl ltatc
and operate the Denver and Rio Grande
Railroad system, sold hero on November
20.
To satisfy a Judgment of $30,000,000
held by the Equitable Trust Company
of New York, the Rio Grande Ka'lroad
was sold. Confirmation of the sale of
the road will come up in the United
States District Court in St. Louis on
December 18.
FINANCIAL NOTES.
Rldredgo & Co are offering a new Issue
of $"00,000 of State of Delaware 4H per
cent, highway bonds, maturing on January
t, moo. for 0.9.r,8 and Interest fo yield
1.1.1 |?1-1 IC11. ?..c ?
on any Interest date on thirty days' notice
at H>". and Interest. They are legal Investment
for savings hanks and tnist funds In
New York, Massachusetts and Connecticut.
Mart In Tt. Raportna, a member of the New
York Stock Kxchange, hnn been admitted to
general partnership In the firm of Oude,
VVlnmlll A Co.
JC. Stradella has sold his New York Cotton
exchange membership to S. T. Hubbard for
$17,000, representing a decline of $I.(KK? from
tha Inst previous sale of b membership la
that exchange.
William Tt. Cnmpton Company and Blair
A Co., Inc.. are offering a nsw Issue of
$550,000 of city of Janmstown, N. Y., t tool
district 5 per cent, coupon bonds, dim in
102" anil IP.'lO, both Inclusive, and yielding
1.(15 to -cm per cent. They nro exempt from
nil Federal Income taxes, lax free and legal
Investment for savings bnnku and trust funds
In this btnte.
Harris, Forbes A Co. nre offering nn Issue
of ?l,ntK),i**i of City of Norfolk. \n? tax
anticipation n per cent, not's. duo In 1021,
nt 00.70 and Interest to yield ti ">'> per cent.
Tbey nre exempt from the Federal Income
tux.
Salomon tiros. $ Hutsler are offering New
lork Central and I'llnols Central equipment
trnat 7s, due ori April 15, 1021, to October 1,
11135, on a basis of from 8.35 to 7 per cent.
Marshall W. PnsU, formerly with Mackay
* Co., has N-ootne a general partner In the
firm of A. H. Murray A Co. and will bs In
charge of their bond department.
New York Stock Fxrhnnge firm of Charles
r Brlckley A Co. has opened an uptown
nfllcs In the f'clmontrn Budding under Ine
inanngumcnt of John C. Taj lor.
Osesr n. Hare, of Philadelphia, epeclallsi
In public utility ernrltles, Is with fl. R.
MeAMIstir \ Company n? manager of their
public utility bond department.
Oeorgp f|. Burr A Company have Issued a
special rlrrular dealing with the steady
rrowth of earning power of chain stores
It contains n table of comparative figures
:< r five years, which shows the number of
( ores In operation, press sales, not profits
before and after deducting taxes, etc.
rharle* It. Prow hn* rc*l*ned from the
firm of Thayer, Prow < Company end I*
nlth IMninnd # Company a* mnnager of
:helr inunlctpnl bond department.
\V. 8. L<effler hn* Iteen admitted as ti
itaHner In the firm of Ft It well ? l.owe,
which will he Known a* Ftllwell, f,effler ALowe
and have office* In 27 William atreet.
Wllaon A chnrdon have laaut-d for <!W|.^lhiillnn
an elahty-arven pane booklet ^PMfled
'The inventor* Market ftarometer." It *hotv*
I he hlRh*. low* start volume* of tho mo*t
active Hated New York Work Rxchnn?e *ernrl'le.a
and 'otftnln* prick hod volume chart*.
Ittlcf utmpllfted analyse*, earning* and dividend*
of aavarai jraara.
THE NEW YQKK HERAJLb, W
Direct Foreign
Banking Service
N;ne*y-two branches in the West Indies and aoutn ana uentrsi
America furnish direct and complete foreign banking brant' e2 in those
countries. ^
I Our branches in Cuba have closely id enticed us for twenty years with
her commercial activities and development, enabling us to advise exporters
on credits and general business conditions in addition to our facilities for
I bnancin exports and effecting payments and collections.
Our 705 offices are established throughout Canada and Newfoundland,
in the West Indies, South and Central America, and in London, Paris and
Barcelona. (
Acceptance Credits, Commercial Credits, Foreign Exchange and Commercial
Drafts negotiated or collected. ^
THE ROYAL BANK OF CANADA
68 William Street New York
Capital & Reserves $37,000,000 Total Assets $589,000,000
I
$1,000,000
City of Norfolk, Va.
Tax Anticipation 6% Notes
Dated December 10, 1920 Dae June 10, 1921. Notes in denominations
of $.,000 or multiples thereof. Payable in New York City.
Exempt from the Federal Income Tax
The City of Norfolk is one of the most important
seaports on the Atlantic Coast, it being officially
stated that during the past year the tonnage of its
harbor was second only to that of New York and
valued at over Four Billion Dollars, exclusive of the
tonnage carried by transports, battleships and other
government vessels. The City is the business center
for a population aggregating 675,000.
The Charter of Norfolk imposes most conservative
restrictions on the financial management of the city,
the debt comparing favorably with other large cities.
It is officially stated the City has paid promptly,'
principal and interest, on an or its Donneci indebtedness
from the year of its settlement, 1680.
Price 99.76 and interest, yielding 6.50%
| i
Complete information on requeit
Harris, Forbes & Co
Pine Street, Corner William
NEW YORK
tWill These Facts Aid You
in Strengthening
Your List of Securities?
An Investor told as recently that he wanted to
strengthen hie holdings by exchanging tome of
hie bonda of doubtful value for good industrials.
He wanted aecurltiefl issued by companies which
could successfully withstand periods of business
depression.
Ws strongly recommended Chain Store Bonds.
f The consistent j>: .'r-in-and-year-out earning
I power behind Chain Store Securities invests them
a with strength and -tabili'.y. In th last five years,
I the earnings before taxes of four landing chains
\ have shown an average annual gain of over 21 ft
Would you like to boner your Income and
strengthen your own Liat of Securities ?
Send in you- list of holdings to us; we will gladly
suggest prch-abie exchanges. When writing ask
for Circularil- 60 "Chain Store Earning Power."
i /
George H. Burr & Co.
lavtitmtnl Stcuritict?Ctmmtrtisl Ptftr
Equitable Building New York
Ob Mm. la U < Mm Offer T?
A National Yet A Parsanal Service
I European Financing
in the United States
Since the Armistice
j?|INCE the signing of the Armistice there have bee
sold in this market nearly <750,000,000 in European
Government and Municipal external obligations, thus
creating an extraordinary interest in such securities.
We have published a circular describing such issues,
copies of which will be sent to investors upon request
for circular A-86.
IiYIe-rill, Lynch & Co.
Mcrtbrrg Ntrn York Stock Exchange
120 r oadway, New York
Chicago Detroit Denver Los Angeiei
jfiillBfollBMr5 IPfr3)M fP13lsroP^Ii31^IrPI3Ii!l|Pi7airS|PfN(SiT0(i5li3iWIf3fnl(?!l'^ri0fg)jBfl0flBfl0(JS(|9(l0pBnBfl9fs.
O, R. MAR STOW HRAOA FIRM. Both B. Spencer. Jr., resident partner In
George B. Baratow, Jr., member of ^>w \orh of ? I,r,an' hotter A Co.. have
. . formed a copartneralilp under the firm
the New York Stock Exchange end foe name of Rar(,tow A Co.. et 18 Exchange
the last flvo years a partner of Kean, place. The new firm wilt d<xl In bond
Taylor A Co.! H. C. Conkllng, firmer tor tnveatmeht and IratuaU a general
, bond manager of the same firm, and brokerage bualaaae.
/
* *.
V
EDNhSDAV, DECfiMbKK 1, 1920.
i jVew /win
$12,500,00
Virginia-Carolina Ch:
Twelve-Year 7>4% Sinking Fi
Dated November i, 1920 Interest payable May 1 an
RtiNwbl* In whol* or In part it tha option of th* Company
Mr?t data, at 109 and Intaraat on or Mori Novimbir 1,
for aach toccaading six montha u
i'MOM to be payable without deduction for any Federal I nee
f Company may be obliged to
Pennsylvania Personal Property Tax cr
Coupon Debentures in denominations of i too.
may be registered as to principal. Total at
GUARANTY TRUST COMPANY OF I*
For information regarding these Debentures we refer to a It
Company, which he has summarized briefly as follows:
r
COMPANY, incorporated in 1895, is one of the large
lines, being engaged, directly or through subsidia
sulphuric acid, cotton seed products and edit
phosphate rock. %
NET EARNINGS of Company and subsidiaries con
Net Earnings
Fiscal Year before Interest and
Ended May 31 Federal Taxes
1916 4 3,427,466
1917 5.905,249
191 8 12,115,808
ioio in on vs4
I , 1920 10,876,745
\ ASSETS: The consolidated net assets as of May I
of this issue, exceed 3.50 times the total fundet
quick assets alone, on this basis, being 1.75 times
SINKING FUND, payable semi -ann al y, comme
for the retirement of over 50% of the total issue
, RESTRICTIONS: No mortgage to be created by C
in luding these Debentures equally and ratably t
purchase money mortgages and also except the t
gage for not more than three years; the conso'id
tained at not less than 150% of the principal am
excluding the Company's existing First Mortgage
All legal proceedings are being passed u*on by Messrs. Hor
Oudin, Kilbreth & Schackno, New York.
been audited by Price, IVatt
Interim receipts or temporary Debentures will be deliverable in the first in:
"when, as and if issued and received by us" and subject to
Price 96.25 and interest yieldinj
I vCircuJar
on reque
BLAIR & CO., INC.
THE EQUITABLE TRUST C0MPJ!
ILLINOIS TRUST & SAVINGS BANK
CHICAGO
Til itsHmitti frtumsi wkih tit gusrtntied, m tUfxdJ
Now Is the Time to Sel
January Investments
EVERY man or woman who has money to invest a
who expects to have funds available for January
such as?
1 ?
Money on Deposit Dividends Inte
Profits Bequests Bom
Christmas Gifts Proceeds of Sales Idle
?should make selections now, in order to obtain exactly
most desired. Buying bonds is like buying anything el
purchaser has the best selection.
We now offer you an especially desirable list of high grade :
bonds, for January Investment. On request we will subtr
and lay aside the bonds you select, for January delivery,
ties, safeguarded under the Straus plan, afford you?
Safety Stability in Value Good Inccm
Security Freedom from Care Convenieno
Write today for our January Investment suggestions.
them a valuable help in selecting safe and satisfactc
Ask for
CIRCULAR C-490
SW.STRAUS Sc CO
IWTABt I9HRD ISM INCORPORV
150 BROADWAY, NEW YORK
Telephone Cortlandt 8064
CHICAGO CLHVgLAKD PHILADELPHIA SAN T
DETROIT BOSTON INDIANAPOLIS MII.W/
BUFFALO WASHINGTON PITTSBURGH M INN F
Thirty-eight years without loss to any in
L I I :
' " . . ?? i / HI,
*u. rSreion j | Standard Oil C
CHECKS I
BONOS ' ;! StOCKS Bom
CURRENCIES Bought, Sold X Quoted
? Alfr
R.A.soicHi* co. I C. C. Kerr & Co. ?e
in W.I! SI N?w Y#rk L 2 St., N. Y. Ph?iw ?.R0 Rwt r 1
I I TV. Itgrlwr <??>, 4730 g
16
'
I i
1,1
emical Company
i
ind Gold Debentures
I
d November i Due November j, jfjt
?
on not law than SO Amy* norica on any te1927.
tha premium dacraaaing M%
ntil maturity
imt Tas a* ta ?% pa annum which tfct
withhold !
F Four Mills Refunded
, 00 and $1,000; Debentures
ifhnri-y<?<d iaatie t H.COO.OOO.
JEW YORK, TRUSTEE
tter of Mr. C. G. Wilson, President of the
>st manufacturers and dealers In Its $
iries in the manufacture of fertilizers,
>le oil products and the mining of :
ipare as follows: J
Total Interest }
including Number of
Current Interest Times Earned
$1,160,297 4.67
1,248.863 4.72
1.808,599 6.69
2.268.078 4.82
1,899.699 5.72
II, 1920, together with the proceeds
1 debt including this issue; the net %
? such funded debt.
;ncing March 1, 1921, will provide
before maturity. ^
Ml
Ompany or its subsidiaries without
herewith, except inter-companv and
txtension of the existing First Mortlated
net quick assets are to be mainlount
of all Debentures outstanding *
i Bonds.
ftblower, Miller &? Gorris on and Messrs.
The Company's accounts have
rrhouse & Co.
j
itance. All offering* are subject to approval of cocasci
authorization of issue by the stockholder*.
or I
g approximately 8% ;
at
HALLGARTEN & CO.
.NY OF NEW YORK ?
FIRST TRUST & SAVINGS BANK
CHICAGO
Vtm itmTft emUri rve bt/lrrn ft it riHeklr
? DIVIDENDS AND INTEREST.
a. COUPONS DUE and PAYABLE |
at the office of
A. B. Leach & Co., Inc.
?
62 Cedar St., New York
it present, or
' Investment, December /, 1920
Albuquerque. N. M.
Alexandria. Ind. >
re8t Bloomington. 111.. School and Road.
JSC8 Cincinnati Gas & Elect. 3 Yr. 7t.
Funds | Cook County. III.. School.
the securities ! ^'viIIe;
, I East Penn. Gas A Electnc Co.
Ise the early l?nti County. Minn . Ditch.
La Crowe, Wisconsin, School.
r . Meade County. S. D . School Dial. 75.
first mortgage m.,^D Count,. Mum.. Diuh.
lit suggestions Montpelier. Ind., Funding.
These securi- Multnomah County. Ore.. Schoo'
New Carlisle. Ind.. Electric Light.
Northfield. Vermont,
e Yield Peoria Township. III., Bridge.
c Snohomish County. Wash.. School.
V;? _,:i| Spokane County. Wash.. School Dist. 15.
\ OU will find Sycamore County. Wwh.. Public Improve.
>ry securities. ment.
Winita. I. T.. Water Worka & Sewer.
... Virginian Power Co., Firat Mortgage 5?.
Wellington. N. J.
Wyandotte. Mich.. Sewe:.
i Union County, Ore.. Public Improvement,
Trn Out Dtctmbtt If.
La Grande. Ore.
Joliet. Ill. Rriunding. Due Dec. 20.
Bartnock County. Pocatello. Idaho.
nANoinco
It KKIC
:ai'oi.,is
LACKAWANNA HTEBL COM I'A.NT.
? NOTICE OK DIVIDEND ON COMMON
vestor btock.
The Hoard of DlnKorn of Lackawanm*
_______ " I c. " i-wiy. at a meetln* held N ovombaj
:4tn. IT':". d> are-1 out of eurplu* n-t earn
lne? a quarterly dividend of one a id oee-t.%1'
i<r rent . rf<w> on tha outatanil'rif Common
Stnrk of tht? Company, payable December
e # O a Slat. tb'N). to utockholdera of record at t&4
IflPC Vqhih on of Imelr > ? , I >?r?mb?T 10, 11*70.
HIvO MCI VILC CI ' !:* will be mailed.
J r HIOC1NSON. Treaatiror.
Common November 24. 1020. ^
Nn, York, No* 2., lU'i't. M
. A quarterly dividend of TWO AND ON'B- I
iht Sold Quoted I
, -ompany will be Md At V
f tira company, 82 Naaeau Streal, 1
??? In thl? rlty, on and after Monday. Doe. 30 t
1 11120, to Htorkholdera of racord at cloea o
j a /"> I fl /> ! btielnee* to-day.
Cu A. Lonen & 1 O l!* ur.irr of the f? ?rd Of Manager*.
C VWUCI* ? V.U. \v H. DAVIDS, Treaturar.
hnifmM <.K\F It AI < IIRMH'AI rONPANl
Jifhinnf Place, New York r"n'' N>w Vor,k- N"v.mtwr to. ioto
? The regular quarterly dividend of ona ami
t?t{ I nn.-liiif ner cent. IIVk?) trill ba raid Jami
' I ary 3, inzt, to Prefyrrfd Btorkhb'dyr* Of roo*
ord *1 3 00 P. M. Pecembt'r 17. tt>20.
' LAMCASTaa MOROAK. frMN*? ..

xml | txt