The Seattle Star Newspaper, July 11, 1922, Page 9

ULTIMATELY— Why Not Now? OU will buy an elec- tric range sooner or later. The success- ful operation of those we have sold in the past eight years is the most convinc- ing evidence we can pre- sent to aid you in making your choice. E are naturally prejudiced in favor of the electric range. But we can’t be more enthusiastic than the woman who uses one—Ask her! eer ose vies haw, Catten sort Rie synt, 10% Tas Ma 6 (A NATIONAL BANK) SAN FRANCISCO SEATTLE :: TACOMA :: ASSETS ae ea ea a ee Cee Laans and Dis¢onnts Bunk Premises [San Francisco & Branches} Other Real Estate Customers’ Liability under Letters of Credit Sundry Bonds and Stocks United States Bonds to secure Circulation Other United States Securities we AG — Other Assets Cash and Sight Exchange LIABILITIES Capital Surplus and Undivided Profits Reserve for Taxes and Interest Circulation Letters of Credit Bills payable and Rediscounts with Federal Reserve Bank Other Liabilities Deposits $101,801,051.71 SEATTLE GEO. T. 8. WHITE, cManager GODFREY L. WAKEMAN, Aust. Manager JOSEPH C. GLASS, Aust, Manager Tm Ban or Caurvorma, N. A. San Francisco, Seattle, Tacoma and Portland constitute one Association under one management and depositors at any one of the Bank's offices have the protection of the entire Capital, Surplus and Undivided Profits of the Association. "“cAssociated for three generations with the best progress of the West” STATEMENT OF CONDITION THE BANK OF CALIFORNIA fil:": :3 National cAssociation PORTLAND AT CLOSE OF BUSINESS, JUNE 30, 1922 $ 55,618,007.62 Redemption Fund with United States Treasurer LEON F. MACKLEM, Asst. Manager ROBERT B. SNOWDON, Asst, Manager Stocks Stronger as N.Y. Market Opens JOURNAL FINANCIAL REV The stavement by Germ me would p New ror Paris that July the feeling in | ere will accept mines w opening of the ei "i 1s 4%. up ka moved ahead pPactically thruout the market onal strength in specialties, American Lee old ious day's low, American Can bettered its = Sp Rew Tides in Seattle TURSDAY WEDNESDAY JULY AL LY it First Low Tide || i986 wm, 2 tt First High Tide ‘ou ‘ » %1 ft ma Heoond Low Tide : | | New York Stock Exchange| Monday's Quotations Fornished by — a nen B10 Second A Btock — Close j Ajax Rubber. ....5++ 6 | Alaska Gold... “ Alaska Juneau ™) Alita Chalmers Amer, Agr. Chem... Amer, Dest Sugar | Amer, Bosch Mag Amer. Locomotive Amer, Ship & Com ® ny am Laem rH i" i Weather Bureau Report Teel TATOOSH IBLAND, July 11 tA M S| —Barometer rising; cloudy; wind south, | |two mile an hour, Passed out, etr |! Jindleter, at a m, 10:8 A, M.—Paseoa al in, ott Mawall vy pe ~~ | Vessels in ‘Port at Seattle uy | Ben Street Terminal—U, # ©, G. Bno- Teonk Pectfio Tevminal—aur aa- ral Rvane Str Wakena. hip Anvft, Adiiral Nicholson, H.W. Alexander, ste Presi % us 108 ae Morse, West Walltngtora, Western Knie Bereet TermicaleMite Robin Whitare, Nip Moorings—Mtr Ketchi- 7. ood, wir Remus, Dredging Co.—@u & Steel Corp do pta | Westinghouse Bice Grittau, : am, GRAIN MARKET CLOSES HIGHER CHICAGO, duty. th Grain cloged higher on the Chicago of tr ‘ a% bre Melrose, *-. Foreign Money Status Quetations roe oard windetorma was the ch! | fu: we cat ewe opened up We kt 24%> Ke. September open- lf a ibe and closed up Bo, dace opened v and closed up we Aten oe Chicago Board of Trade (Teesday’s — ue & a ni tig! tity ay 42% 43% 1% o% 4% aie u% mau a% 1% ‘ 40% 1078 1090 1070 $7 (1117 10.98 Denver Live Stock Tureday’s Gnetations 1,491,270.81 440,840.81 4,321,299.13 5,669,654.88 Foreign Exchange 2,150,000.00 b) | NEW Yo 4,157,576.11 107,500.00 4,480.14 27,840,422.21 . lamba rong. Lamba, $12.76 Cal M No. eS $101,801,051.71 $ 8,500,000.00 8,960,433.49 288,254.13 2,119,197.50 4,394,806.99 San Francisco Produce Quotations prime firsts, ats, 180 1b, PUBLIC — CORN PRICE CUT Corn took a decided drop Tues-|° use of poor sales, Retail| lare that the people re- the price asked. Due | |to high express rates the drop was| hardest on the wholesalers, who were forced to sell the corn at $8 land $4 per crate, They had asked | $6 ando $7 last week, One carload of Merced tomatoes Jarrived early from California and |“ jwent on tho atreet for $2.26 per! crate, Cherries made a slight advance in price Tuesday to 12% and 16) cents per pound, No particular Pr reason was given for the rise. ~..(None).... 255,057.42 77,288,302.18 Figs Cabbage—Locai ORE Any Yakima Gems, fancy #F $25,000,000 The New York Central Railroad Company Refunding and Improvement Mortgage 5% Gold Bonds Series C Dated October 1, 1921. Interest payable April 1 and October 1 in the City of New York, Due October 1, 201%. Redeemable, as a whole but not in part, at the option of the company, at 105% and accrued interest, on, but not before, October 1, 1951, or on any interest date thereafter, on three months’ notice, Coupon donds in denomination of $100 (not reotsterable) and tm denominations of $1,000 and $500, regtsterable as to principal. Fully registered bonds in denominations of $1,000 and authorized multiples thereof. Coupon and registered bonds interchangeable, The issance of these bonds has been authorized by the Interstate Commerce Commission. Guaranty Trust Company of New York, Trustee. ‘A. H. Smith, Eeq., president of the New York Central Railroad Company, has summarized as follows his letter to us describing this issue: The proceeds of these bonds will be applied to the retirement of the $25,000,000 of 7% collateral trust bonds of the com« pany, which bonds will be called for redemption on Beptember 1, 1922. The refunding and improvement mortgage bonds are scoured by a direct mortgage on all of the rallroad owned by the New York Central Ratlroad Company, the main line of which, extending from New York City to Chicago, ts one of the trunk lines of heaviest traffic tn the United States, For the last seven years (1. ¢, since consolidation with the Lake Shore & Michigan Bouthern Raflwway), the companys net income, after deducting rentals and miscellaneous income charges, averaged $58,001,400 per annum, as contrasted with $24,057,965 average annual interest charges on mortgage and other secured debt. Net income in 1921, after deducting rentals and miscellaneous income charges, amounted to $65,090 S62 as compared with $27,425,969 interest charges on mortgage and other scoured debt. The company’s net rallway operating income for the first five months of 1922 amounted to $20,190,458, as compared with $11,775,742 for the corresponding period last year, an increase of 60%. Inasmuch as the proceeds of this taeue are to be used to retire extating debt carrying a higher rate of interest, the taeue of these $25,000,000 bonds till reduce the company's annual interest charges. The average interest rate of the company's mort~ gage debt, including the present tsaue and $480,161,000 underlying bonds, ts approwimately 4%. Bince January 1, 1915, the company has added to surplus apprortmately $80,000,000 from current income after pay< ment of dividends on ite stock. The company has additional resources in the undistributed earnings of subsidiary prop- erties, its proportion of the undistributed surplus earned by five principal steam railway subsidiaries during the last seven years amounting to more than $44,000,000, The outstanding stourities funtor to the refunding and improvement mortgage bonds include $105,500,000 debenture Donds and $249,597455 par value of capital stock. For every year since 1869, dividends have been paid at the rate of Gt least 4% per annum; since 1900 the rate has been not less than 5% per annum, In the opinion of counsel, the refunding and improvement mortgage bonds are a legal investment for savings banks in the states of New York, Massachusetts, Connectiout and New Jersey. THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO ISSUE AS PLANNED AND TO THE APPROVAL OF OUR COUNSEL, AT 944% AND ACCRUED INTEREST, TO YIELD APPROXIMATELY 5.30% Subscription books will be opened at the office of J. P. Morgan & Co. at 10 o'clock a. m. July 11, 1922. The right is reserved to reject any and all applications, and also, in any case, to award a amount than applied for.. The sum due on allotments will be payable at the office of J. P. Morgan & Co., in New York funds, the date of payment to be specified in the notices of allotment, against delivery of temporary bonds, exchangeable for definite bonds when prepared. - New York Central Railroad Company Ten-Year 7% Collateral Trust Bonds, due September 1, 1980, with all unmatured coupons attached, will be accepted in payment at 105% and accrued interest to date of payment on allotments, J.P.MORGAN & CO. FIRST NATIONAL BANK, New York. GUARANTY COMPANY OF NEW YORK. HARRIS TRUST & SAVINGS BANK, Chicago, Ill. KIDDER, PEABODY & CO, New York, July 11, 1922, { THE NATIONAL CITY COMPANY, BANKERS TRUST COMPANY, New York, LEE, HIGGINSON & CO, dos. bh work Peppers —Fiorida new, ™ ean, ‘per Th. white, 1 graded Garnets, per th pancnneana eee ee e Cattie— (LOCAL MARKETS _} Watermelons—Per t. NUTS: | Mixed Nate—Per Mé DAIRY PrRopucts Prices Paid to Shippers | Buttertat— A grads, Seattle Ge! PES Fresh ranch Mixed colors Pultets .. MiKk—-Cwt., fob. Seatth supply ¥, 0. B. condensary, ewt. . DAIRY PRODU! crs Prices Paid Wholesale Dealers Butter—Local creamery, cubes. Brick . . Fresh rr Ducks—Live, old, per I, Live, young, per Ib. | Mrotlers—1 to 14 Tb: Englinh, local, 24-pt, erate .. Loganberries | a Kaapherk Strawberries — Mar tee Loom FRUITS Prices Paid Wholesale Dealers 2,003.28 +1260 1.76 » Per orate sos. 1.60 1,26@1.60 09% 2.00 12% @ 116 124@ 15 , 10 per White, bulk . Black, bulle . bo-pke. box 4-row layer . al, Honey —C! Honeydew Jeo Cream ASAT To 79S 2 Wd 9M 91 9D 9 MOM») CE TE EAE SE Pineapples went down with the arrival of a carload of Hawatians. now at $5 per cas 1% the. and over Live, light, 8 to 3% Ibs. Fancy dry picked 2¢ above live, Geese Dreased, per TD. Live, fat, old, per T. . heavy POULTRY AND MEATS Prices Paid Wholesale Dealers Cowe—Country dressed, Ib. Hoge--Fancy block . Veal—Fanoy, Med., dressed Heavy, cot Receipte at Seattle Tuesday Oe 4 Medium to chot Common to good Cannere . Calves, Mght .... Medium to cheice Heavy Bwes ‘ FLOUR AND SUGAR Wholesale Prices Plowr—Family pat. 49-M, ske..#.2 Soft wheat bakers, 98-l. sks. 7.7 i Beet, per ewt. 7.20 HAY, GRAIN AND FEED City Delivery, Wholesale, Per Cora Whole, og | My EXTRACTION FREE DAILY Our whalebone rubber, which does }|/not cover the roof of the mouth | you have two or more teeth. Natural Rubber, set of $6. 00. Gum Lyke Rubber, a perfect re- holt a of the human gum, set " teeth, ae ee eee eeeeeeee $10. 00 | GOLD CROWN BRIDGEWORK. ... Most of our present patronage is recommended by our early custo- mers, whose work 1s still giving good satisfaction, All work guaranteed for 15 years Examinations free. OHIO «| DENTISTS |j vou [2nd Ave, and University, St} stern oyster ‘Western oyster ... TRAVEL BY AUTO to PORTL FARE $6.00 Every Monday, Wednesday an@ a. ma. -PACIVIO CO.. Agents erry St. iciiete 3879 Boat Schedule: wsave Monasy= | Travel by steamer | TACOMA SAFTY - 5 DAILY 7, % 11 a. m., 1, 3, 5, 7, Op. me 4Sc FOR SINGLE TRIP 80c FOR ROUND TRIP VICTORIA, BC STRAIT POIN PorT ANGELES DAILY Dees not go through te toria om Saturday might trip SAN JUAN ISLAND PO BELLINGHAM ANACORTES PORT TOWNSEND RAIL CONNECT AND MILL POoRTs HOOD CANAL Poin 7 | MONDAY. WEDNESDAY, FRIDA NEAH BAY & WAY Por