. The Friend : a religious and literary journal . ylvania Four Mill Tax. Coupon bonds in denominations of $100, $500,§1,000, registerable as to principal. Authorized $5,500,000 To be presently issued $5,500,000 BANKERS TRUST COMPANY, NEW YORK, TRUSTEE Security: This issue is a direct first mortgage on the fixed assets of the Company nowowned or hereafter acquired. Net tangible assets, offsetting this issue, based on thebalance sheet of August 31,1920, after giving effect to this financing, will be $19,026,249of which $6,674,729 will be net quick assets. Earnings: Average annual net profits, af
. The Friend : a religious and literary journal . ylvania Four Mill Tax. Coupon bonds in denominations of $100, $500,§1,000, registerable as to principal. Authorized $5,500,000 To be presently issued $5,500,000 BANKERS TRUST COMPANY, NEW YORK, TRUSTEE Security: This issue is a direct first mortgage on the fixed assets of the Company nowowned or hereafter acquired. Net tangible assets, offsetting this issue, based on thebalance sheet of August 31,1920, after giving effect to this financing, will be $19,026,249of which $6,674,729 will be net quick assets. Earnings: Average annual net profits, after depreciation but before Federal Taxes andinterest on floating debt: 10 years to October 31, 1919 $2,311,217Aimual interest charges on this issue $440,000 Net profits for the 10 months ended August 31, 1920, on the same basis, were$1,167,935. Price at Market, to Yield About 8%.Full Detcriptive Circular on Request. J. P, Magill 8c Co. INVESTMENT SECURITIESSPRUCE 726S LAND TITLE BUILDING, PHILA. race 30oa 228 THE FRIEND. Eleventh Month 4, GOOD for leather belts—of course !Thats what it is made for. Butthat is not all. Some of the soccerplaying boys at Westtown thinkRhoads Leather Belt Preserver finefor keeping soccer shoes in playingcondition. And its judicious useshould keep thy harness pliable andwaterproof. Let us send thee a gallon can of theliquid Preserver at $ or. a of the paste Preserver at $ J. E. RHOADS & SONS PHILADELPHIA12 N. Third Street NEW YORK102 Beekman St. CHICAGO322 W. Randolph St. Factory and Tannery: WILMINGTON. DEL. K. C BiUinfw Ernut R. Twd*0 John A. StritteaTELEPHONESMl—S(rac« 17-81 • • Kejdone—Rice «7 R. C. BALLINGER & CO. CONTRACTORS tai BUILDERS til N. TUrteealh Sl PhIUdel»hU
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