The Brooklyn Daily Eagle from Brooklyn, New York • Page 20

M2 .20 THE BROOKLYN DAILY EAGLE, NEW YORK, MONDAY, MAY 13, 1920. S3.000.GOO MERGER News of Bankers and Banks TRANS-LUX NET Profits and Losses THEY SAY: Are Your Stocks Earning Dividends? ST. PAUL'S APRIL INCOME GAINS Net Estimated at $1,490,000, OF 3 LAUNDRIES John V. Cuneu on Public National Board. SHOWSWG GAIN More Than Double That for Previous Year.

Speculative Cossip in the and John F. Cuneo, president of the In the fittiiig.s of the bonking qunr- Holland, Sheldon-Foster Park in Combine. Street and Elsewhere ters. The office will be the 47th Against $1,270,000. ance Company fo.

the yea- ended Dec. 31, 1928, shows net Income ol $2,200,030, after losses, expenses, reserves, equivalent to $27.50 a share (par $25) earned on 80.000 shares of stock outstanding at the end of the year. This compares with $1,790,717, or $22.38 a share, In 1927. Graham-Paige Reports. The consolidated Income account of Graham-Paige Motors Corp.

for Buying ef an impressive character continues In the standard issues. On the whole, individual stock movements which characterize the market of today are upward rather than downward and we believe this tendency will continue. Chlsholm Si Chapman. Among the rails which give promise of moving steadily ahead is Erie. The monthly earnings figures show steady improvement and a orlce of above $80 a share Is clsod at hand.

The Wall Street Mirror. The Trans-Lux Daylight Picture Screen Corporation reports for the year ended Dec. 31 net profit of $258,746, after taxes and charges, against $102,058 in 1927. The 1928 net profit equals 35 cents a share on 730.488 no-par shares, against 14 cents a share- on the above number of shares in 1927 and $44,719 or 6 cents a share In 1926. The balance sheet as of Dec.

31, 1928, shows total assets of $6,918,508 and surplus $871,065. Current assets were $717,609 and current liabilities The preliminary estimate of th Chicago Milwaukee St. Paul and Pacific Railroad for April indicates gross will approximate $13,190,000 with net operating Income of about $1,490,000 Net operating income for April, 1928. amounted to 1,270,507. "Big Four" Gains.

The Chicago, Cleveland, Cincinnati and St. Louis Railroad reports tor the quarter ended March 31. 1929, net income equal, after allowing for dividend requirements on OOi? shares of 5 percent preferred sto to $4.07 a share on 470,287 comraM shares, agairist a share in th8 Writing Paper Net Dp. American Writing Paper Company reports for the first quarter of 1929 net profit of $81,331 after charges and taxes, against $68,520 In the 1928 period. Net profit for the quarter is equal, after preferred dividend requirements, to 7 cents a share on 197,253 common shares against 1 cent a share on 155,000 common shares outstanding in the first quarter of 1928.

White Star Line Reports. The White Star Line reports profits for the year ended Dec. 31 were 481.963. After deducting 145,810 Interest charges. 7.804 office expenses, 31,262 of formation expenses which were written off and 260,001 for dividends on preference shares, there remained 37,086 available for the 4.000,000 common shades of 1 par.

Deduction of 6 percent dividend on common shares, less ax of 48,000, leaves a debit of 10.914. This amount, with the credit balance of 75,526 carried forward from 1927, makes total carried forward of 64,612. Western Dairy Gains. the quarter ended March 31, 1929, follows: cost of sales and expenses, operating profit, depreciation, miscellaneous charges (net) net loss subsidiary companies, net profit, $523,641. Cuneo Press, one of the largest printing establishments In the Middle West, at Chicago, has been elected a director of the Public National Bank and Trust Company of New York.

Mr. Cuneo succeeds Michael Hollander of Newark. N. who has resigned. Besides Mr.

Cuneo the board comprises Emanuel C. Gcrsten, president; Joseph J. Bach, vice president; Nelson I. Asiel, Mottv Eitln-gen, William S. Hernon, H.

Bella1: Hess. Charles J. Liebman, Walter E. Meyers, Henry L. Moses.

Alfred S. Rossin. Arthur Sachs and Jacob Sperber. New Manufacturers' Branch. The Manufacturers Trust Company's new branch in the Tammany Hall Building, 17th st.

and Union Square East, Manhattan, which will open tomorrow, has been dasl(jiid vith especial attention to architectural harmony, according to officers, the Georgian Colonial theme of the building being carr.ed out unit ot the Manufacturers Truct Company in New York City. I babe Gets Coin Collection. One of the most famous collections ol money in the world, con-stliiiting more than 40,000 spec'-mens assembled e'er a period of 40 has been acquired by the Chase National Bank of New York ard will be Installed as a In Its building at Nassau, fine and Cedar sts. acquisition represents the largest fin-gin trsnsfer of varieties of money t)ia; hns ever taken place. The collection, which will be ofiirlaUy kron the "Chase Bank of Mcneys of the World." wat foinia'ly opened to the pub.ii today.

It was acquired from Farran Zerbe, who has been appointed numismatist of the Chase Novtona! Rank and curator of the cole ctlon Housed In a room espec'i designed for it in the Chase Rank Building, it will perpetuate the Hie work of Mr. Zerbe, has searched the world for coins, paper and all other types of money. The leaders and best acting spe cialties, in our opinion, continue to be Air Reduction. American Can. Webtvaco Assets.

The statement of the Westvaco Chlorine Products Company, as of March 31, 1929, filed with the New York Stock Exchange, shows total first quarter of 1928. Lake Erie Net Up. Atlantic Refining, Consolidated Gas, Electric Auto Lite. General Electric. Commercial So vents.

In-1 The Pitsburg and Lake Eric Rail- $6,485,626 on 31 1928, and ternatlonal Harvester, Mar on. road reports for the quarter endr I'nited Light Gross Vp. The United Light and Power Company, Including subsidiaries and consolidated earnings of the American Light and Traction Company for the 12 months ended March 31, shows net income of $6,629,210 after depreciation, Interest, taxes and other charges, equal after preferred dividends to $1.64 a share on shares of combined Class and common outstanding at the end of the period, Comparison for the preceding 12 Service of N. Standard Oil ol March 31. 1929, net income equal to $1.70 a share, par $50, on 863.65 shares, against $1.67 a share in th N.

Timken, Westlnghouse Elec first quarter of 1928. tric, Warner Brothers and "Wool-1 worth. O. M. Loeb, ol-E.

F. Hutton Consolidation of the Holland Laundry, 225 25th the Sliel-don-Foster Supply Company, a coat and apron laundry service at 572 DcKalb and the Park Laundry Jamaica Into the United Laundries Corporation was announced today by H. H. Miller, president of the Holland Laundry, Inc. Combined assets of the three companies, as tarried in the latest balance sueei.

are $3,111,253. Capitalization ot tnc new company win consist of 30,000 shares of 7 percent cumulative preferred stock and snares oi no par common. The consolidation was effected througn exchange of shares, but the basis as not disclosed, The stocks ol all three companies are closely held. The Lnited Laundries Corporation will be headed by Augustus C. Froeb as president.

Mr. Froeb is the sou ol Charles Froeb, president of the Lincoln Savings Bank and Is a trustee of that institution and a director in the Brooklyn Fire Insurance Company. He was treasurer of the Holland Laundry. Management to Remain. Management of all three companies will be represented on the board of the new company.

In addition to Mr. Miller, who will be vice president, and Mr. Froeb, It will consist of Charles H. Rolka, president of the Sheldon-Foster Supply Company, a trustee In the Lincoln Savings Bank and president of Associated Wholesale Laundries, Brooklyn; Edwin C. Murray, president of the Park Laundry and vice president of the Brooklyn Steam Laundrymen's Association, and E.

S. Hamilton of Minturn Si Investment bankers, 44 Wall Manhattan. Mr. Rolka will be a vice president and Mr. Murray secretary and treasurer of United Laundries.

Public financing In connection with the consolidation will consist of an offering of 6.000 shares of Unitsd Laundries preferred stock at 93 to yield over 7'-j percent by Minturn Co. and the Guardian Finance and Develoumcnt Co. earned surplus of $823,795, against 8900,306. Current assets were and current liabilities, excluding Federal tax reserve, $282,487, as compared with $1,500,784 and $192,052, respectively, on Dec. 31, 1928.

"Metro" Store Gain 24 Percent. The Metropolitan Chain Stores report April sales of $1,141,176. an Increase of 24.3 percent over April, 1928. Four month's sales were $3,961,037, an Increase of 20 9 The Day's New Investments months is not available. Giws for INCREASES DIVIDEND London.

May 14-Thc V. O. Holding Company, declrvsd a dividend of 22'-i percent -jn ihe common and preferred sdcks, less tax for year ended 31, 1928, against 20 percent in tTie preceding year. the period amounted to $90,633,882 and compares with $85,669,346 in the preceding 12 month. Thompson Earns $1.10 a Share.

Houston Lighting Bonds, An Issue of $2,000,000 Houston On the bull side we continue to think well of most of the rails and there should be a revival In copper shares very aoon, stimulated by possibilities of a $6 rate on Kennecott. Jacques Cohen of Baar, Cohen St Co. If money rates are easy, that Is about 8 percent, we look for a renewal of activity In-the oils, where, as we have recently stated, accumulation is in evidence. F. B.

Keech Co. The John R. Thompson Company reports net profit for the quarter ended March 31 is equal to $1.10 a share on 300.000 shares, against $1.42 The Western Dairy Products Company reports for the auarter ended March 31 net profits of $43,581. alter depreciation, interest, Federal taxes, against $35,549 in the first quarter of 1928. Net profit for the quarter ended March 31 Is equal to 33 centc a share on 131,312 shares of Class against 27 cents a share in first quarter of 1928.

Net sales for quarter were $4,399,389 against $3,567,662. Daniel Reeves Sales I'p The Daniel Reeves Company sales for the five weeks ended May 4 were $3,409,866. against $3,150,221 Pples for four months were against $11,606,117 In the 1928 period. Hamburg Elevated Gains. The Hamburg Elevated.

Underground and Street Railways Company renorts for the year ended Dec. 31, 1928. net earnings of after evnenss and depreciation, against $1,460,518 in 1927. line Implement Company, will take the form of 100.000 shares of convertible $6.50 cumulative preferred stock and approximately 220.000 shares of common stock. The offering of these securities, which is expected tomorrow, will be undertaken by a banking group headed by Goldman, Sachs fc and including Eastman.

Dillon Lane, Piper Jaffray. the Minnesota Company and the First Minneapolis Company, Elsirr Klectrii' a share In the first quarter of 1028 Lighting and Power Company first lien and refunding mortgage percent bonds, due 1953, was offered by Halsey, Stuart Co. and W. C. Langley Co.

at 98 'i and Interest to yield over 5.10 percent. This company, which operates under the supervision of the Electric Bond and Share Company, supplies electric power and light to Houston, and 68 other communities in sur to switch freely from these groups to selected oils. Jackson Boesel Co. Figures for the March qt'arter this vear inc'i'de earnings of Henrici, for March only. National Tea Has Big Gain.

The NaMonnl Tea re Budd Wheel The Budd Wheel Company in the first quarter of 1929 shows net profit of $553,814, alter Interest, appreciation. Federal taxes, against $151,609 in the 1928 quarter. Foundation (Foreign) Loss, The Foundation Company (foreign) reports for the year ended Dec. 31, a net loss of $88,764. after taxes and charges, against a net less of $54,195 in 1927.

ports April sales of $7,391,645. an Increase o' $27,266 over Anrll. 1928. Four months soles wer $29,938,331. Easy money will stimulate a handful of selected stocks, but wa fail to see the possibilities of a general advance because of the uncertain money situation.

Lamborn, Hutching Co. We would hold recommended Ralls, but would accept all strong spots In Utilities. Motors and other recently prominent industrials aa telling opportunities. Emanuel, Zlegler Co. Would make bullish Ideas tentative and be prepared to scale down commitments if money shows recurrent signs of acute stringency nex tweek.

Munds Si Wlnslow. High-grade stocks recommended for purchase are American Can. POEtum, Consolidated Gas and National Cash Register. Some rather weak techical positions have been built up In the copper and motor groups, and we would be Inclined an increase of $2,529,552. COUNTERFEIT COIN National Family Ktorta 1029 192H April alr 552.138 S132.A28 Tnrte monthj, aalta.

1.484.512 344.870 Rossia Net Higher. The report of the Rossia Insur The Eisler Electric Corporation incorporated under the laws of Delaware to acquire the Elsler Engineering Corporation of Newark. N. will shortly be financed through the offering of a new issue of 99,000 shares of common stock, no par value. The offering will be made in this market through Bonner, Brooks Co.

British Power and Lisht. Shades of the British Power and Liht Corporation which has recently acquired control of several important producing and distribut DETECTOR INVENTED Invention of a counterfeit coin or slug detector which automatically rejects bad coins and instructs the patron to "please use good coins only" is announced yesterday by the consolidated Automatic Merchandising Corporation, which con rounding territory. Curtis Lighting Stock Offered. A new Issue of 46.500 shares no pax common stock of Curtis Lighting, was offered by Paine, Webber Co. at $22 per share.

Curtis Lighting, Is an engineering and manufacturing organization which for 34 years has been engaged In the development, engineering, designing and manufacturing of scientific electric lighting equipment. The stock is listed on the Chicago Stock Exchange. Minneapolis-Moline Financing. Initial public financing for the Minneapolis-Moline Power Implement Company, a Delaware corporation recently organized to acquire the properties and businesses of the Minneapolis Steel and Machinery Company, the Minneapolis Threshing Machine Company and the Mo- trols the stamp vending machine PLAN PATENT EXCHANGE An agreement has been reached by the Associated Automatic. Machine Corporation, of London and the Consolidated Automatic Merchandising Corporation to Interchange natents and information in a world-wide distribution of talk-ins automatic vending machines.

now in use at the main New YorK Citv PostoftVe and 11 other impor ing companies in Wales and England were offered for public subscription here bv Clark. Dodge and in London by Robert Benson and Edward De tant Postofllces throughout the country. The Invention, whlnh is the work $25,000,000 Alleghany Corporation TWENTY-YEAR COLLATERAL TRUST CONVERTIBLE 5 BONDS Stein fe Co. The offering consists of 1.600,000 shares with a par value of 1 each priced at par. of Joseph Schermack.

inventor o. the stamp vending machine, find. its application in a change maker for use in subways, telephone booths, aoartment houses and in all fxnu of low-priced retail stores. Allied Inter, Inv. Ion Am.

Alliance Investing S8 Am. Bond Share S10 par. 28 's Dated June 1, l'JZ'J Due June 1, 190 18'j MEETINGS Intereit payable June 1 and December 1 in ew York City LOOK FOR RECORD IN INGOT OUTPUT First Week of May Shows 30 Percent Increase. NEW CONSUMPTION PEAKFORRUBBER April Demand 47,521 Tons, Against 32,772 Tons. 1 HL TRADERS NAIIONAL BANK Ui-BROOKLYN IN NEW YORK.

Flatbusb Avenue Extension and DeKalt To be itiued under Collateral Trutt Indenture dated June 1, 1929 CURASTY TRUST COMPANY OF Mflf YORK. TRUSTER nni. A LOlH Do 6'. pf Am. cities P.

L. Am 6i Oen. Sec. Units Do A Do For. Sh.

Corp. Unlil Am. For. Sh. Corp Am.

Ac Scottish Invest Am. Int. Bond Asior Pin. Corp. A Do A P.

Int. Corp. w. Do pf. w.

Do Units 6) 30 10't as 2 47 4H 10 3.) 44', Avenue. Brooklyn. New York. April 12. 1929 NOTICE OP SPECIAL MEETING OP SHAREHOLDERS To the Shareholders: Notice Is hereby given that a special meeting of the shareholders of The Trndera isationa Bant or Brooa vn in New Yon I edeemable, at the option of the Corporation, upon SO days' published notice, as an entirety on any date, or in amounts ot not less than on any interest payment date, at I01xi and accrued interest.

The Rubber Association report shows consumption in April to have been 47,551 long tons against 44.730 will be held at Ita main office. Avenue Extension and DeKalb Avenue. 74 Bankers Bees. Tr. of IB Brooklyn.

New York, on Mav 16th. li'9. at nine o'clock a Eastern Davlkht Saving Time, for the purpose of voting Youngstown District steel Ingot output averaging nearly 96 percent with 50 of 51 independent open hearths melting, the highest rate since last October. Lapwcld pipe departments, averaging 60 percent. in March and 32,772 in April last Coupon Bonds in denomination of $1,000 with privilege of registration as to principal.

upon rue ann conurmatton ol an agreement dated April mil. en. year. tered into bv a majority of the board ot directors of this bank, and by a majoiliy This is a new all-time h)gh record oi ine noaru oi uireciors or me tsiair nn tlonal Bank of New York, and bv a ma for consumption. ioritv of the board of dimeters of the Bank May ingot output is expected to Stocks on hand or in transit were of America National Association for the consolidation of said three national bank! 107,659 long tons against 100,536 in under the cnarter and name of The Bank of America National Association, as set March and 113.083 in April last year.

forth In the said Consolidation Airee. ment: and for the purpose of transacting other business aa may properly come establish new hish monthly record. The first week In May show3 outbound shipments of finished stee! products 30 percent larger than In the 1928 period. Stocks afloat are, reported at 55.408 long tons against 56.476 in March and 33,986 in April last year. oeiore sain meeting.

By order of the Board of Directors. HART. Cashier 71 S5 'ti 111 Si's 66 J. nar.krrs Pin. Trust Bankers Inv.

ol Am 1.V, Bsrtsra. Corp. of U. 8 CI. A.

of Md. A 20 Do 10' 4 Do pf 49 industry Shares Brltifh Type investors A 74 Canadian Bsnk Stocks, inc. 27a Coi. Pin. Units 7 Olonlal Invertors 28" Community Corp 12' Comments! Sees 194 Do pf Crum Forsler Insuranshrs.

108 Do pf 102 Diversified Trustee 8hares. 2B1. Do in. Eastern Bankers Corp 25 Do Units 145 FirTlre BouUies Cor. Class A 12 F.ijn tv Investors pf.

unit 60 I (derated Capilal Corp Do ikw units 10R Financial ImeMing ltd. 24 First Investment A pf 42' Trusl 22'b Fwnrlftion scs i runlic Scrvic? 44 Do 6 pf 04 Do 7 pf Canarrl Trustee Corp 2:1 Pn 8'. bonds 90 Do new units 70 Cei. Credit Inv. 25 pi 17 Oreenvay Corp 23'i Do pf 4 a Guardian Investment 27 Do pf 28 Guardian Investors 15 Do 6 do Do $3 units 42 Inv.

Co to Incorporated Equities 51 Ii. corpora ted Investors 95 'i Do new 66' Incorporated new 84'a Iiisuranshares 8r. A 26-14 Rer. B. 1928 22 Do Ser.

27' Do Ser. 31'. Do Ser. 25 Tiuuranshares Corp. of DeJ.

22'a Int. Orman Trust 522 Int. S-rs. Corp. A 54 4 Do 32 Do pf.

90V, Be 6'. pi 91 Do allot ctfs 150 Imcstment Co. of Am 47 Do A units 162 Do 7 pf 95 Investment Trust Associates. 47 Invmt. Trust of N.

12'j Investors Fqulty 50 Joint Sec. Corp. 120 Kent Seca. Corp 110 Do pf 100 Massachusetts Investors 52's Moaern Bk. St 13 Motor Banestocks 12 Vutual Investment 12'i K.

PI. Investment Trust 12 N. Y. London Man. units.

70 N. Amer. Util. Sees 17 Do pf 91 N. Amer.

Trust Shares 10', Old Coionoy Inv. Do 4 'is 85 Penile Investing iter Your Entire Investment 20 100 SO ti in 28', 23', 29 32 26', 23 1 228 9S 153 52 i 1 66 52 IS '4 125 114 103 O. P. Van Sweringen, President of the Corporation, has summarized as follows his letter to us regarding these Bonds: okua.MZATIo.n Alleghany Corporation teas organized by Messrs. O.

P. and M. J. Van Streringen to acquire share and PL'RPOSK ol certain corporations with which the Messrs. YanSweringen had preciously been identified, and of Issi to furnish a corporate instrumentality to provide funds for further investments from time to time, principally in railroad securities.

Opportunity has been taken, in accordance with the purpose of organization, to make investments in securities of other railroad companies. The present financing, including, the issue of Ho.000.000 additional Preferred Stock, and an additional amount of Common Stock estimated to produce over 1 13, 000, 000, wHl reimburse the Corporation's treasury for funds already expended for such purposes and will provide funds for further investments from time to time as opportunity offers, including the acquisition by the Corporation of its share of additional Chesapeake Corporation stock presently to be ottered to stockholders of that Corporation. capitalization The securities authorized and presently to be outstanding are as follows: Outstanding or pretently to be Authorized issued Fifteen-Year Collateral Trust Convertibles Bonds. 135,000,000 $34,95,000 Twenty-Year Collateral Trust Convertible 5 Bonds this issue) $5,000,000 $25,000,000 Preferred Stock ($100 par value) 'y shares 500,105 shares Common Stock (no par value) 1fi00fl00 shares 4,025,217 shares In addition there will be outstanding warrants evidencing the rights of holders thereof to purchase, at $30 per share, 2,474,933 shares ot Common Slock price and number of shares purchasable subject to adjustment in certain cases). 'Wfiii tkurts Ptrftmi Slock euUttndi er frrsettlly lo bt iisnri wilk fiwronj uUckti, lft tkorrt of Preferrti Stork nifaoul ttDrranfj oufjlWinj, tnd on tddtlictiat 419.S95 share or Prijemi Slock Without uvrranu rtttrvei jor Iko ccnvcriwn ot Bonis, skartt of Common Slock rtiervti for conversion of Bonis; shares restntd ogoinst txercist of riakis under utrrants ulocktd lo shores of Preferrti Slock; and sharet reserved ogoinst txercist of rights under warrants sold lo the emanisers of Ike Corporation.

litres Presenile to bt outstanding) inclnit S2S.00S shares (uai.li number mav be, increased 1 wkick mil be subscrtbld for under the Corporation's proposti o'tring to common stockholders of li ol their kolitngi of record Hoy 27, 1919. BEct'HiTT The Bonds are to be secured under Collateral Trusl Indenture dated June 1, 1929, by pledge thereunder of: 240,000 shares The Chesapeake Corporation Common Stock stock as now constituted) 10,000 shares The Chesapeake and Ohio Railway Company Common Stock 110, COO shares Erie Railroad Company Common Stock 24,000 shares The Wheeling Lake Erie Railway Company Prior Lien Stock 21,000 shares The Wheeling Lake Erie Railway Company Common Stock The Indenture is to permit substitutions and withdrawals ot collateral under restrictions set in the Indenture, and is to contain provision for the maintenance by the Corporation at all times on deposit with the Trustee ot securities of an aggregate value determined as provided in the Indenture) of at least 150 of the principal amount of Bonds at the time outstanding. The Indenture will also contain provisions whereby changes in the Indenture with respect to the maintenance, substitution and withdratcal of collateral, and the method and procedure as to valuations and approval as to class and kind of collateral upon substitution, may be made with the consent of the Corporation and of the holders of 0 in principal amount of the Bonds then outstanding. assets and Upon the conclusion of the present bond and stock financing, the Corporation's balance sheet EAhSi.nus will show assets, including securities at cost and cash, in excess of $194,000,000, as contrasted with $61,014,000 of indebtedness presently to be outstanding. The receipt annually of a sumequal to interest and dividends at rates being currently paid on the Corporation's investments assuming receipt of $3 per share annually on the Corporation's increased holdings of stock of The Chesapeake Corporation) plus an estimated return of 3' on uninvested cash, would provide an income in excess of $8,000,000 per annum, or more than 2'j times the interest charges on the Corporation's indebtedness, including this issue.

i conversion Each $1,000 Bond may be converted, at the option of the holder, at any time on or prior to privilege June 1, 1944, or earlier redemption date, into 7 shares of the Corporation's Cumulative 5'ir0 Preferred Stock Series without warrants, and 10 shares of Us Common Stock, For the purpose of conversion, the Preferred Stock is to be computed at its par value of $100 per share, and the Common Stock at a value of $30 per share, subject to adjustment of the conversion rights in case of subdivision or consolidation of. shares, changes in par value, copsolidation or merger of the Corporation or sale of its assets for stock or securities dividends in Common Stock, and additional issuesof Common Stock for cash other than the shares issuable upon conversion of Bonds, and the shares issuable upon exercise of warrants, outstanding or presently to be issued), The is subject to the tnore complete statements contained in the circular a copy of which may be obtained upon request. THE ABOVE 11Q.VDS ARE OFF Eli ED FOR SUBSCPJPTlOX, SUBJECT TO TEE CO.YDITIOSS STATED BELOW, AT 100 ACCRUED I.XTEREST. 5ja is IB 13-, 74 19 9 with 5 Vis RETURNED you CONTINUE to share in the Ownership and Profits of the Building THE Kellncr Profit Sharing Building Plan offers both large and small investors an opportunity of securing, first, 60 cumulative dividends; second, complete return of their original investment; and, third, a Permanent share in the ownership and profits of thc'bujlding through common stock bonus. Until the full amount invested in preferred stock, plus 6 cumulative dividend, is repaid to the investor, all surplus ta applied to the.

redemption of the preferred stock. Thereafter, as the owner of common stock, the investor continues to share in the ownership and profits of the building. Whether you wgnt to in eat $100 or $10,000, yofThow havt he opportunity to invest it in large, income-producing Brooklyn buildings. Send todiy for copy of the booklet which fully describes the Kellner Pln. Juit fill out the coupon below, end mail it etr.

There is no obligation. 10J. iio pt loer tt It. Sees. Trust 64 31 26 jil 4 4 I to 29' S4': 2 47 4K "7 SI1! 44 Research Inv Do 6" pf.

units P-econd Financial Invest Second Int. Sees. A Do Do rf Shawmut Bunk Inv. Tr nd 4'i-s 1942 Do Ss 1952 Standard Collateral Standard Investing Corp Do drht. Ss w.

Do S'i pf Ftate Bankers TruMec Standard Oil Shares. 8 Brit. Int. pf B5 HI IS'a la 14', 1'4 I7'a .18 101 21 1.1 37 41 ni 34 no A laid 14' V2 s. Fr Lt Power P.

For. Sees tin rf I' S. Bliarei A Al Iio t'l Do f'2 lo (J in llo com IV. in-1. 385a S9', The Kellner Profit Sharing Building Plan, Inc, 6t Court Street, Brooklyn, New York.

Kindly ftni mt, uilhtHt ofrifaioir, copy btoklel inctibint Ike ktllntr I'rofit Hktrin( Bmliin( Flan. 33' Stmt Aidrtst HOLDING AND FINANCE C0MPN1ES. A'tv Ffiimrlcrs Corp 103' IQJi3, 1)0 40tll 73 "7 l) fc'r pf 110 T'r Ml Con. pf 100 101 K.nikmstoi'ki. Holding 2d 22 rrtlit Alliance A 41 43 llri Hold.

47 Tr. II 13 K'tor-e inv. Corp 147 Vf IIO C'sss A 27 Ho ClfM 6 7 I'ni'rd Fo indrrs Corp 321i 34' Subscription books will be opened at the office of J. P. Morgan Co.

at 10 o'clock Mondaii May IS, 1929, and will be closed in their discretion. The right is reserved to reject any or all applications' and also, in any case, to award a smaller amount than applied for. All subscriptions will be received subject lo the due authorization, issue and sale of the Bonds as planned, and to approval by counsel of the form afid validity of related documents and proceedings. The amounts due on allotments will be payable at the office of Morgan 4- in York funds to their order, and the date of payment on or about June 1929) will be staled in the notices ot allotment. Temporary Bonds, exchangeable for definitive Bonds when received, are to be delivered KELLNER.

FLO FIT SHAKING BUILDING PLAN GUARANTY COMPANY OF NEW YORK THE NATIONAL CITY COMPANY 4 j. p. Morgan co. FIRST NATIONAL BANK York. May IS, 1929, UIVIDtNlKS.

SOUTHERN' PACIFIC'COMPANY DIVIDEND NO. 91 A niVIDSND of Out D'llal a ml 1 itiv Cent' iM.jfl. per si' a re on tlir I'a'iiiKl Plok of Ill's Conip'im Ims rr-ilrr i-M-Kble at the TreaMirer'n Office. No. K-i Rroa'vav.

New Yolk. on Mon-iUv. Jniv i. to Mfwr.oo-rlers of record 3 clock o'l Friday Mav 1TM 1 he itock lrnr hook VI! not be rloacr, foi ll.e pa- hint (it tin- rl'iidenl. THORNTON.

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