Evening Star Newspaper, September 29, 1922, Page 29

e e A .+ .FINANCIAE,: . WALL STREET LIST IS UNDER PRESSURE Near-East News and Bear Efforts Cause General Weakness. BY STUART P. WEST. W YORK. September 29.—There tion of whether or not the Situation was an influence k list at the opening. Every ted it and in the same i 1 that conditions at home were al right. ) “Sterling exchange dropped several points, and the announcement of the failure of the. proposed -Ropublic-Mid- vale-Inland stecl companies’ merger «wied Jto the weakness and uncer- Aty Professional hears searched the list for weak spots und found them in sieels and other inddstrials, with more show of resistance.on the part of the rails and some of the oils than elsewhere in the list. Coppers Were Soft. Comment among roorh traders and hrokers was to the effect that should thiere be actual hostilitics in the near t there would be another big up- n 1o our market, but today the . aror 2. Republic ock lost nearly Steel dropped 2 « merger-failure voints while Midvale ints. In the Rails. Pacific was off 1%. New al“was ex-dividend and did v part of it. Northwestern nd Lehigh Valley % with in many of the cheaper rails: re and Ohto “lost a point, as offered rather stubborn re- » the bears, with the exception u_ ietroleum, which dropped points. was consid ~ first hour, able activity dur- wien the -pre§sure Weak All Morning. tendency to rajly did not go declings . -encouraging bsier lers to press hazder.for the wd¥Rn e while some of the “bulls” of the die-hard variety finally sold cut b Around midd: the market pre- sented a newy weak appearance, pos- sibly with more short selling than 1 liquidation, although there was ntly of both. While @ mood deal of liquidation was broughi out either on stop orders or as the result of margin calls. there was no doubt that the main impulse t5 the decline came from bear opera- i tons Fhe technical side of the decline in the independent steel stocks, as it appeared to the street, was that banking intrests had long known the bad news that was coming, had had hance to act upon it in the market, and consequently were willing to see the break go as far &s possible in order to facilitate réaccumulation. Steel common was a much tougher proposition for the bears, partly be- cause of the presence of the usual supporting orders on a scale down, und partly because of the.contention that the breaking off of the independ- | a_buil argument 1’ corporation, of receivership stor Truck Com- e surprise in the strict, the selling ‘price of the stock long ago signalized such 2 proceeding. The reorganization hlans are reported to be already un- der way. Butte and Supérior. With zinc selling at close to. 7c a pound it is expected that the Butte and . Superior Company will be able to report substantial earnings for the last- five months of this year. Be- ginning with -August, Butte and Su- perior has been showing a surplus aster all charges including depredia- tion. The report for the third quarter therefore is expected to show a net profit. n the early hours of the afternoon he market took on a much better ap- ce. ent steel merger was the pany occ finaheial here and there started cov- ering and there were found good re- sultant rallic in equipments, motors apd industrial specialties. Washington Stock Exchange SALLS, Washington Gas Wasiington Rail al 741, SROOD at 74, Capital Traction—10¢ 25 at 1021, Light—1 at 58%. 0 at 108, ‘all loans, 5 and 6 per cent. .. BONDS. Bid and Asked Prices. PUBLIC UTILITY, n TFel. and Telga. 4s...." *fel. and Telga fgn t i Tel; etl. Auacostia and Potomac gha C. and P. Telephone & and P. Telephone a1 Traction 5. of Va. R. 5s. Metropolitan R Potomac Elec Waghingtpn ( Wakhingion Gas, Washington Rwy..and Elec. 4s. Wash. Rwy. and.&lec. 5. w. bs. American Tel. god-Tolg: American Tel. and: Telga Capital Traction Wash. Rwy. and Elec. com. Wash: Rwy. and.Elec. pfd. Terminal Taxi com. ‘rerminal Taxi ofd American Security and Trus Coptinental Trust National Savings agd T Umon Trust . Washingten Loan « SAVINGS BANE. §BEExE B U. 8. Savings Washington Mecl FIRE INSURANCE. .4 =558 2 TITLE INSURANCE. Columbia Title = . Real. Estate. Title. MISCELLANEOUS. Graphopbone com. fd. " Tiones and B Viptyaciiode 01d Dutch Market pfd. Lanston Monotype Security Storage Washington Market Yellow Cab *8x-divi »-IJ“ Eu # somewhnat, but raMles were | Fri | DEPENDS UPON Review of Situatio American Hopes BY J. C. ROYLE. Spectal Dispatch to The Star. NEW YORK. September 23—The copper metal is not ready for any marked advance in price despite to- day's increased domestic consump- {tion, higher wages in the mines and better business prospects through- out the country. Producers in man: districts are counting upon such an advance, but their hopes are likely to be deferred until the calendar of an- other year is hung above their desks. #ponsibility for the deluy. Normally, Europe takes slightly more than haif of the American re- finery output. It became known to the: writer today through an Ameri- can’“banker just returned from Ger- many that officials of the Copper Ex- port Association have reported most unfavorably upon the outlook for in- creased use and purchase of American copper- in Europe during the remain- der of the vear. and to investigate the situation and, if possible, alleviate it, that L. Agassiz. president of the Calumet and Hecla Mining Company; Joseph | Glendennin. sales manage: the Guggenheim interests, and ward Mosenhauer of the United Metals Selling Company recently salled for the other side of the Atlantic. Germany, according to the banker mentioned. willingly would take large suppltes of copper. but cannot pay. Orders may be placed, but there is a possibllity that when stocks are shipped there may be left on the docks as was the case with American goods at Buenos Aires in 1921, when millions of dollars were lost by Amer- ican shippers because the cXchange situation was such that would not or could not pay the bills. Hinges on Mark Value. Industrial revival in Great Britaim, ance, Belglum ang Italy depends in large part om the situation in Ger- many and the relative valu: of the mark. Even the war flurry in the near east givés no promise of Increas- ed consumption of copper abroad, for the amount used in munitions would jbe counterbalanced by the slackening of consumption for industrial pur- poses. In this country consumption Is in- creasing rapldly. Reports of electric companies indicate startling increases in the use of electrical equipment. in which copper plays an Important part. Production also is growing, as tele- graphic reports received within the {last twelve hours indicate. | The Kennecott and Latouche mines of Alaska are now turning out ap- proximately 6.000,000 pounds of cop- per a month, according te word from Seattle, and production will be in- creased gradually as men become available with the end of the fishing and prospecting season. Eighty per cent of man power capacity now is employed. Wages are running from $4.90 to §5 a day for miners. Production in Utah. Copper production in Utah now is between 50 and 60 per cent of ca- pacity, accerding to a dispatch from A Mackenzie, secretary of the Ttah section of the American mining | congress. Possible production of the big Utah properties is estimated at 200,000,000 pounds annually. The mines today are at least 1,500 men below their labor requirements. Wages .have. been increased more than 10 per cent in the last thirty days. This has attracted few addi- tional men, but more. are expected to respond now that the agricultural season is over. In Utah, the harvest hands usually go to the mines for the winter. season. The Michigan and Minnesota mines have increased wages at least 15 per cent, and today are still short of men, Duluth reports. The only check to production is seen in & possible lake seamen's strike. Shipments of copper on the lakes.are running 40 per cent above the last year's average. Heavier operations are expected in the Montana copper mines, according to reports today from Butte. The Anaconda Company is producing about 15,000,000 pounds a month and is still short of men despite a wage in- crease of 80 cents a,day. * Situation in Arizona. Production in the Bisbee, Ariz., dlstrict will approximate 15.000.000 pounds this month, according to a {report from that center, and smelter schedules for October provide for some increases over this amount. All available men are being hired. Wages are $4.95°a day with a bonus system, which permits the earning of an average of $6.75 to $7 a day. Steam i shovel operafions at Sacramento hill of any increase in demand. This in- crease s anticipated. There is no question of the improve- ment of the copper situation in the United States, but South American production is also on_ the upgrade, and.the market needs the fillup of in- “ ;cfease foreign. consumption and pur- ! chases before advances in prices will assume sizeable proportions. %!New Life and Energy Seen in Most Lines at Detroit BY PHIL S, HANNA, Special Dispatch to The Star. DETROIT, September 29.—Scars of the railroad strike are still apparent on Detroit's business in the form of late trains, congested freight yards and a shortage of freight cars. Never- theless new life and energy is ap- parent in most lines of business here. Bulck Automobile and Chevrolet Automobile are facing the brighest prospects they have confronted in sev- eral years. Onders for Buicks aré so insistent that purchasers are besieg- ing -the officers of the company per- "l sonally te obtain- early delivery of cars, which are being turned .out at the rate of 600 a day. Buick plants are at capacity, even the new closed car- agssembly plant-at Detroit being fully - utilized. Chevrolet is turning. out 1,400 cars a day. Shipments Likely to Top Rail Means in Southwest BY J. N. FINING. Special Dispatch to The Star., - ST. LOUIS, September 23.—Re buying is back to normal here toda: ‘Wholesale buying also is on the up- grade, for.purchasers are laying in stocks before any advance in price, a result of the new tariff regulations becoming_ effective. The public here is tuming some of its attention to the higher-priced 'or silks and diamonds. * 7 Merchants have begun to order large stocks of shoes and wearing ap- parel, and retail stock replenishment on a large scale evidently is at hand. Industries are being hampered greatly by transportation difficulties, and it is becoming increasingly evi- dent that shipments will exceed tran; portation facilities throughout the en- tire autumn in this section. Increased Major Building Features Atlanta Business BY W. W. THOMAS. Bpecial Dispatch to The Star. \ ATLANTA, September 29.—The f in this city has been- thé outstand- ing feature of the business situation here this week.. Continued improve- ment in all lines of trade is approach- ing a point which compares with war- time boom days. Contracts were finally let today for a million-and-a-half dollar hotel and #everal apartment houses in sections' ’ On the German situation will rest re- | It s In connection with such reports ! consignees | will begin immediately on appearance | oods, and there is a marked demand creasé in major building Dpe"“on.‘l L § GERMAN TRADE Likely to be.De- ferred Until Situation Clears. |iRsae the business centers. tial building continues unabated. ! Atlanta {s leading the south in ;bullding _construction. 1In the laat | month projects have been started i which involve | about $2,000,000. Memphis wa nd. with about $1.600,000, and Lou-’ ville third, with approximately $1 400,000. The upward trend of bull {ing materfal prices has stimulated rather than checked operations, b Commodity Reports * From Various Sections Residen- sec-, & Bicycles. {ILADELPHIA, Pa., September 29 (Bpecial).—A reduction ofp 20 lor zfi per cent in prices of bicycles and mo- tor cycles has caused dealers to stock up fregly, and at lower prices these articles are moving freely. Hides. CHICAGO, September 29 (Special) i —Hlde market is low and firm. Pac ers are demanding higher prices than offered. Leather is moving slowl. s‘m‘:g:ra is no indication of price re- 1 Furnitare, NEW ORLEANS. September 29 (Special). —Furniture retailers re-| port active demand for classes of i household goods. Sales are restricted somewhat by inability to get ship- ments promptly from manufacturers, ibut are running from 20 to 25 per {cent ahead of last year. ptember 29 (Spe- oint to a very ac- PITTSBURGH, cial).—Indlcations p tive fall in glass indust: Glass for building purposes is very active and Rlussware for home use is in improv- 1.1;{ deman Construction work is flecting tket for illuminating ware. Container and bottle factories are busier than a year ago. Shoes. BOSTON, September 29 (Special).— Shoe manufacturers re)vhrlp uent)rll improvement {n business volume. ;l::;:lul}:wnunm-blv tendency. Leather rm. Wi S g o iy with recent advances ‘Wool. FORT WORTH, September 29 (S cial).—Boston buyers have purch 600,000 pounds of mohair within lai ten days from North Texas Wool and Mohair. Clip was delivered in Gal- :'Ue:!on for shipment by water to Bos- st Dried Fruits. NEW ORLEANS, September 29 (Spe- ctal).—Dried fruit stocks here( ::e noniinal and a large business is dicted as soon as crop are avallable. Clothing. PHILADELPHIA. September 29 (Special).—Men's clothing is movipg in large volume in this district, but makers of women's apparel complain of few sales. They attribute this to reluctance on part of women to aban- don short skirts for longer and wider ones, and determination to wear out the older garments before ad new styles. e pre- shipments of ngwl Dry Goods. i CHICAGO, September 29 (Special).} —Retail dry goods business in this’ section is only fair, but merchants are | hopeful that cooier weather will pro mote buying. Meat. ' FORT WORTH, September 29 (Spe- ! cial).—As a result of orders recently receives initial shipinent. of ten | carloads of refrigerated meat from | Texas has been sent to Monterey for| distribution throughout ° northern Mexico. Other orders will follow throughout entire winter. Naval Stores. NEW ORLEANS, September 29 (Spe- cial).—An export corporation is being formed by leading producers of naval | stores south and will have its head-| quarters here. This {s'counted on as a helpful factor to trade in turpentine and rosin. Z Steel. CHICAGO, September 29 (Special). —Ralil production in this district has ' increased to about 40 per cent of ca-| pacity with an output of 2,000 tons & week. ! H EAPOLIS, September 29 (Spe- ! ial).—Soft coal prices here from $12.35 to $14.85 & ton. This is §2 | a ton higher than a year ago. Hard coal ranges from $12 to $17.50 per ton,: about same level as obtained in 1921 Higher prices are forecast by dealers. Textlles. PHILADELPHIA,. September 29 (Special)—Changes in styles of wom- en’s garments are causing hesitation !among cloth manufacturers here. | DEMAND FEATURES WOOL. ‘BOSTON, September 29 (Special).- Demand for good Ohio and Pennsyl- vania fleeces was a feature of the Summer street wool ‘market today. A stiffer tone was noticeable in prices combing wools. The tone of the for- ielgn markets was reported very firm, the -lpcal market. fine unwashed de- Illnepw quoted at 56 to 58; fine ing, 51 to 52; three-eighths blood, 47 o 48, and_quarter blood. 44 to 45. of delaines and three-eighths blood- especially in the case of Bradford. In ! clothing, at 48 to 49; halt blood comb- to 48, and guarter blood. 4% fo 1% % Investments Imited smount . ng e o MR Mok TaA0E beariag 7% Interest In' amounts of $250.00 to $2,000 .h!y abeolutely safe ! ;?v'.npm 7ieldjng such * return. Chas. D. Sager, 923 Fifteenth St. N.W. Loan Department—Maia 36. form of . Uberal | .FOR - . 'THE EVENING STAR.! ; SAY ANY RISE IN COPPER PRICE the expenditure of | (Copyright, 1922.) if —_——— FIRST MORTGAGE NOTES IN DENOMINATIONS OF DRY GOODS UNCHANGED. ' WASHINGTON, D. C., -FRIDAY Prices Continue Extremely Firm, + - With Advancing Tendency. NEW YORK, September 29 (Spe- cial).- ‘The raw cotton market exer- cised little influence on the trading n in Europe Shows in cotton cloths on Worth strest te- day, Prices continued extremely fl;r‘ with an advancing tendency. Holders of standard print cloths in many instances were asking qu er cent above current gquotations for late year deliveries, but in the ma- jority of cases their terms were not | curb market today was unsettled by met. particularly active. Sheetings were strong. Sateen drills, twills and pajama checks continued in good demand with no recession in prices. Quotations in the raw silk market were not appreciably lower, siderable shading was in evidenc ‘manufacturers, trading was only moderate. STEEL OUTPUT IS CUT. but con- e.|Place of leadership, and during the e was some buying by hosiery |early part of the session were bid up but the volume of CURB DISAPPOINTED *ONS.0.MEETIG By Bpecial Leased Wire to The Star. NEW YORK, September 29.—The but not|the same causes as was the stock market, namely, the abandonment of the Republic-Midvale merger and the Turkish news. Btandard Oil shares retained their despite the generally lower prices fn other sections of the market. t one time Standard Ofl of .New York was selling over fifteen—points above its previous high record. But When the directors' meeting adjourn- YOUNGSTOWN, Ohio, September 29. | ed and announced that only routine —The first curtailment of steel opera- tions on account of car shortage Was ; was a sharp reaction. announced here today by.the Republic Iron and Steel Company, which business had ‘been transacted there The street had looked for something has | to be done regarding the stock divi- shut down elght of its sixteen sheet)dend, and was much disappointed mills at the Deforest plant, in Niles. —— BHORT-TERM SECURITIES. (Quotations furnished by Redmond & 00.) ° Bid. Asked. Alnminum Co. of Amer. 7s 1925 104i;. 104 Alyminum Co. of Amer. 7s 1983. 1 108! 937. S1018 102 Di01g 1014 78 1928.. :‘0': }%é Copper 6 192 4 ‘Anaconda Copper 7s_1920 108 108 Anglo-American 01l 7%s 103 1083 r & Co. 78 1 104% 104 Rethlehem Bteel 7n 1923. 108 10613 n Pacifc 8s 192 1005 101 & 8t. Dio1% 101% Do o Copper Export 10244 Copper Export 108% 1043 Cudahy Packing Co. 013, 101% Du Pont 7is 193! 107 107 Goodyear T. & R. 84 19311000 98% 98 Great Northern 7s 1938.. e 1 Gult 0il Corpn. s 1083 D108% 104 nsas City Terminal 6a 1923.. 100% 101 Kennecott Copper 7s 1980.. 1048 108 Libby, MeNell & Libby 7a i 10235 M. Bt. P. & 8. 8. M. 8ig: 108 Penos. R. R. 7n 1980, .11 iy 8t. Paul Union Depot Sign 1023, 101 101% Bears, Roebuck & Co. 7n 1922.. 100 1004 Sears. Roebuck & Co. 7a 1023.. 101% Routhwestern. Rell 7 *Swift & C¢ +8wift & C Tidewater Unlon Tank Car 7a 1980. . 8. Rubber Co. Ts 1028. Westinghonse B & M. 7x 1931. 107 *Called October 15. 1922, at 101%. 1Called February 15, 1923, at 103%. —_— TREASURY CERTIFICATES. s e 1025 —_—— BAR SILVER QUOTATIO NEW YORK, September 28.—For eign bar silver, 88%3; Mexican dollars, 52%. ‘ TONDON, September 29.—Bar silver, 35 5-16d per ounce. Money, 2 per cent. Discount rates, short bili cent; three months' bills, per cent. EQUITABL Co-Operative Building Association Organized 1879 424 YEAR COMPLETED Assets Surplus Sabseriptions for the 83d Issue of Stock Shares, $2.50 Per Month EQUITABLE BUILDING 9i5 F St. NW. JOHN JOY EDSON. President FRANK P. REESIDE, Seey, TOMORROW LAST DAY To: Buy Units of ' DISTRICT ‘GUARANTY ' CORPORATION range | ' At the Original Price of $200 _On Monday the Price Will be $225 - Do not lose this op- portunity to get inon a seasoned dividend- payer. ‘William B. Westlake Fiscal Agent 728 15th St. N.W. Washington, D. C. Tel. Main 6714 B 25-16 per 2%a211-16 when it was stated that no considera- tion. even had been given to this matter. s Magnolia Oll Weak. Magnolia Petroleum, in which Stan- dard Oil of New York is largely in- terested, moved In sympathy with the latter stock. Vacuum OIil was bid up to a new high at the start, but later came down with the rest of the group. Standard Oil of Indiana went through the same fluctuations, while Anglo-American and International Petroleum were fractionally lower. Cities Bervice common opened up a point and a half, but substantially more than lost this gain. The pre- ferred and the bankers' shares held firm. Alcon Oil got above the dollar mark Capital, $250,000.00 ~ 911 F at “Columbia.” 3% New Issue such redemption. source. to fixed property. " year mortgage, ha to 3,601,121, or over each $1,000 bond. Bonds are again and Southern States Ofl was off $2,927,812 to $513,590. Ofen at 8:30 AM. Every Banking Day . Columbia National Bank Disrespect for Small Coins —is out of place. Just a dime kept aside for ten days will enable you to start a savings account Once begun. you'll soon find saving “second nature.” and a dollar pile will be earning interest for you before you know it. PAY DAY'S about due—why not begin saving now? pondl Paid on Slnn. You can open a Savings Account at this convenient Bank: with as little as First Mortgage 7% Twe Dated September, 1, 1922 Redeemable as a 'wholle ‘or in part on any interest date on thirty days’ notice at 1072 ptember 1. 1928, and thereafter at 107 e t Semi-annual interest. March 1. and September 1. payable in New York for any normal Federal Income Tax not exceeding Pennsylvania and Connecticut Four Mill Taxes and Maryland Four and $1,000, $300 and $100 Coupon Bonds with privilege of registration as to principal. First Mortgage 79, Gold Bonds (this Capital Stock (Par Value $100)... .... ! The plants of the company, . ering an area of dbout 15 acres and with an aggregate floor turing equipment_consists of screen cloth weaving I winders, and galvanizing, afinealing and painting plants. ) . : n jobbers through the Company’s own resident sales agents and representatives. chiefly in the Southern states. substantial amount of cloth'is also sold for export. In the opinion“of .counsel, these bonds the American Wire Fabrics Corporation. " tions as set forth in the mortgage indenture to July 31, 1922, after deducting six times the annual interést during this period (including 1921, a year The planfs of the American W ment; of which all except a relativel ve recently been appraised bp Messrs. over $1,600 for each $1,000 bond. The balan Audit Company of New York as of July 31, the new company and the present financing, t . er $2,400 for each $1,000 bond, and net quick assets amountin SINKING FUND The indenture s.ecuring these bonds will provide for a sinking fund sufficient to retire by purchase or call $30,000 face value of bonds of Series A on March 1st of each year from 1924 to 1933, inclusive, and $100,000 on March 1st of each year thereafter. S5l A We recommeénd these bonds for Investment v Price 100 and accrued interest, yielding 7.00% E. H. Rollins & Sons . 416 Woodward oftered” whe, ‘ss”and ' We do not guarantee the above Information but have obtained it from official sources which we believe to be reliable. the declaration:of the reg- dend. There wWAS &n erratic movement in Gulf Ofl of Pennsylva- nia, but with a downwird tendency. New Ent:;nd Fuel Oil also fluctuated over a wide range.. ; - With the exception of Macy pre- which lost its gain of Thurs- epartment store lssues held up well. in went lower, Glen Alden Cosl fi:;fll; S Lowery ing ceased in the coal group on the big board. Amalgamated Leather on FAILS FOR A MILLION. . Petitioner in Bankruptey Shows "INEW YORK, September 29.—List- dn‘lln against only $468 in assets, tition in bankrup 'y The petition was on b self personally Only $458 Assets. linbilities of mere than a million 1 Sturtevant flled a voluntary pe- her nd as a shareholder favorable trade and earnings reports |, g was actively taken around its high m‘[‘; .{.‘_'fll;g{-rd'l'-‘ ns-(t;":lr“}:"k-ng Em- e neautville, Pa. which . ceased to We Offer for Investsnent Action in Motors. operate last January. At that time There was liftle doing in the mo- |the three partners made a general e.l E.ta 2 2 tors. Durant of Indiana went off [ assignment and dissolved partner- R te Notes fractionally. Stutz continued under |shi Liabllities listed consisted ©Of || of responsible makers secured by 1st lies pressure below 19, Packard common |deposit and loan accounts. on improved property. TO x{:u: % was firm. while Packard preferred at AND 7o%. one time was o n X better demand appeared for Ray| Republic Steel broke to @ new low || FEOKET FAXMENT OF INTEREST Hercules Mining, and this stock gain- ed fractionally, while others of the mining department were firm for the most part. 3 The new Sheffield Farms 6%s reach- ed 101% again. Gibson Howell com- mon was removed from trading. DIVIDENDS. Btock of 5 Record. Atl. Ref. Go..&lu Q.. ll."lfi.g::. }. A tias Powder .+ q. $1.80.0ct. Al.-Dg!M ('AL.. ....0ct, 1¢ and tt. & W. Va. Postum Cereal, Postum Cereal Htover M. & Ei vells Fargo & C 50 Operating revenue of the Baltimore { and Ohlo road in August decreased | $3.829,204 to $14,104,234, while net fell | Surplus $250,000.00 Street - $1 -$1,500, less 1% of 1% for eacl 2% which the THE EQUITABLE TRUST COMPAN despite announcement of earnings and statement that bankerx work out a modified plan for merger with Midvale and Inland. improved Bank of Bethesda, Md. Phones: Cleveland 1919 and Bethesda 81 attorneys were attempting to MONEY TO LOAN ON FIRST MORTGAGES If you desire to horrow money on residences, apartments or business property, we are in a position to render you a prompt and efficient service. : . Prompt reply given all applications. Current interest rates and reasonable charges. B. F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. FIRST TRUST NOTES Issued Under Our Supervision Are Ist. Permanently Safe, eliminating all worry. 2nd. Give Maximum Yield, better than other forms of equally safe investments. 3rd. Require Least Attention—we look after every detail for you. Let Us Have Your Reservation at Once 000 | AmericanWireF abricsCorporation | nty-Year Sinking Fund Gold Bonds : Series “A” Due September 1, 1942 and accrued interest on or before n March 1. 1928, and the date of and Chicago. without deduction be required or permitted to pay at the One-hali Mill Tax refunded on application. 1 h full year elapsed betwee: Company may Y OF NEW YORK, Trustee. CAPITALIZATION (After giving effect to present financing) American Wire Fabrics Corporation (incorporated 1922 e Fabrics Company, incorporated in 1911, one of the foremost manufacturers of high-grade located at Mount Woli. Pa. ooms. “All the capital stock of American Wire Fabrics Corporation has been purchased by Wickw Corporation, which has provided th: of jts own 10-Year Notes and a sul e equity over and above t The remaining bo Authorized Qutstanding ue)... $2,000,000 $1,500,000 . 2,000,000 2,000,000 in Delaware) is the successor of American Wire wire screen cloth. . and Blue Island, Tll., are modern and efficient. cov- space of about 215000 square feet. The manufac- together with the necessary warp. spool and bobbin The products are sold direct to manufacturers and A ire Spencer Steel le of $1.775.000 hese bonds through the recent s: bstantial amount of its common stock. The management which has success- fully developed the business of American Wire Fabrics Company will continue with the new corporation. SECURITY will be secured by direct first mortgage on all the fixed property of nds maye be issued only under conservative restric- for not exceeding in face value 50% of additions or improvements EARNINGS - ASSETS ire Fabrics Company, incl Building it : i issued and received requirements of $105,000 the First Mortgage Bonds now : of‘u_u!:nh.imu.dqreuiop) has the net ificome been less than ce sheet of the American 3 1922, with subsequent adjustments to give effect to the purchase by shows total net assets, excluding ‘all intangible values, amounting "l‘he average annual net income of the American*Wire Fabrics Company for the five years from July 31, 1917, - depreciation, but before Federal Taxes, amounted to $615,833, or appwxlm_ltely be issued, and in no uding lands, buildings. machinery. tools and equip- ely small proportion of personal property will be covered by the lien of the Ford, Bacon & Davis at a sound value of over $2.400,000. or Wire Fabrics Company- certified by The g to $1,158,221, or over $772 for Spencer Trask & Co. ‘Washington Correspondent R. P. IRVING Woouward Bullding | : by us and subject to the approval of cougsel. of FRARNEY L T4 ' 1 i 1 | i i ' HPE ML RV ETMAT B OY e ———— e e e e . o St o T T