THE DETROFI JEWISH CHRONICLE

PAGE SEVEN

IN FINANCIAL DETROIT

00=0=0=01===10=101===101=01= ==101=0

U

0

U
.1

0

0
l
1

0

0

0

Office of the Secretary

February 25, 1920.
To All Members:
Re: Motor Wheel Corporation
The following is from a letter to
the Secretary of the Detroit Stock
,Exchange written by Mr. II. F. Har-
per, President and General Manager
of the Prudden Wheel Company, un-
der date of February 19th, 1920.
"As per recent correspondence we
take pleasure in mailing you, under
separate cover (50) copies of the in-
dividual Balance Sheet exhibits and
the consolidated balance sheet ex-
O hibits of the four Companies which
will be merged into what will be
0 known as the Motor Wheel Corpora-
tion.
"At the meetings of the four in-
dividual companies held February 17
and 18, the stockholders ratified and
authorized the sale of the properties
and assets of each ,company to the
Motor Wheel Corporation. It, of
course, will take a little time as yet
to prepare the necessary bills of sale,
so each of the individual companies
will be going along for some time.
"Rest assured ins( as soon as the
transfers have all been made your ex-
change will be notified.
"The Motor Wheel Corporation
will be capitalized with an author.
ized capital of $6,000,000.00, divided
into 600,000 shares at a par value of
$10.00 and $5,000,000 preferred stock
divided into 50.000 shares at $100.00
per share.
"The combined net assets of the
four companies entering into this
merger, after giving effect to appre-
ciations of factory equipment, based
on present net sound value basis, will
be approximately $6,820,570.34.
Against this, however, for the present
there will be issued only a total of
300,184 shares of the common stock
of $10.00 par value. The balance be-
iiig carried as surplus on the books
of the Motor Wheel Corporation.
"On the preferred stock, arrange-
ments have been completed for the
sale of $2,500,000.00. The proceeds
from this sale of l'referred stock will
go right into the treasury of the Mo-
tor Wheel Corporation, increasing
the current assets. of course, by this
additional of $2,500,000 cash item.
"If there is any further informa-
tion after reviewing the statements
and letter above that you desire,
please advise and we will be glad to
go into the matter again."

National bank protection for your
savings; the highest possible type of
service and co-operation on commer.
dal accounts; and if you desire to
send money or do business overseas,
a world-wide connection that assures
satisfaction; these are just a few of
the advantages you gain by doing
business with this bank.

0

Detroit Stock Exchange

Capital and Sur-
plus $7,500,000.

0

O

FIBS& DETROIT
NATIONALBANK

MENDER FEMW.RESTIWE BANK

ctor==iomtoi==lornoio noio=i

■

Bonds

Bonds

Dansard-Hull-Bumpus Co.

Investment Bankers

W. G. Souders & Company
Offer Attractive Issue Soon

W. G Souders & Co., whose Home
Office is in Chicago. with a branch
at 1438 Dime Bank Building, expects
to bring dot very shortly a very at-
tractive new issue. This house
originates most of its own business,
and we are advised that from time
to time they will have exceptionally
strong short term Bonds and Pre-
ferred Stocks which will be interest-
ing to Michigan investors.

47 Congress St. W.

Detroit

CLASSIFIED

WEEKLY MARKET REVIEW

Furnished by Statistical Department RAGTIME TAUGHT, also Classical
Music, according to modern school
of O'Hara, Ferriss & Co.
Miss Helen Krause, 220 Medbury
Ave. Northway 3436.
The oil and motor stocks have
DO YOU WISH to start your
been the most prominent securities child in music, but dread the long
on the local exchange during the past period of "beginning to play?" My
wereic✓Ainong t,4 first named Gladys new method delights both the par-
Belle A:Am...file' bas displayed the ents and the pupils with its results.
aolivity, several thousand A child of ordinary ability can play
shares having changed hands. Trad- third-grade music correctly in a short
ing in the motor securities has been time. See Miss Cecil Hodges, 79
well distributed. Lincoln led this East Warren. Sorthway 1122.
class in the number of shares sold. READY TO MOVE IN—Furnished
Packard, Reo, Paige-Detroit, Conti-
house, 233 Gladwin avenue. Easy
Short Term Notes
nental, Ford of Canada and Com-
terms. At home 12 to 2 or 6 to 7
merce were also popular on the floor
p.
m.
Phone
Main
1908.
High Grade Preferred
of the local exchange. Michigan and •
Columbia Sugar also figured in sev- ROOM TO RENT at 186 Rosedale
Stocks
Court
to
refined
couple.
Kitchen
eral of the recent transactions, while
privileges. Inquire at 343 West-
the public utilities list was represent-
minster. Drug Store.
ed by trades in Detroit Edison, Amer-
ican Light Si Traction and Cities REFINED YOUNG COUPLE want
room
with kitchen privileges in
Service.
small private family. Use of piano.
Other securities to change hands
Reasonable. Best references. Please
during the past week have been
state particulars to P. 0. Box 1260,
Hayes Manufacturing, Miles-Detroit
Detroit, Mich.
I 438 Dime Bank Bldg.
Theatre, Edmunds & Jones, Parke-
Davis, l'rudden Wheel, Charcoal Iron, TO RENT-199 31st and Buchanan.
Detroit
I Eight-room flat. Two stores. Ten-
National Grocery, Towar's Creamery,
car garage. Complete bakery with
Phone
Cadillac 6010
Western Knitting, Scotten-Dillon and
modern equipment. Inquire Glen-
Wolverine Portland Cement.
dale 1201-R.
The market is still controlled by the
scarcity of the money supply, and the
list did not respond to the decision
in the steel case as much as was ex-
Boston
New York
pected. There are several construc-
tive factors, however, which have
been accumulating and which tend to
strengthen the technical position of
most of the securities listed, and the
Direct Private Wires to All Securities Markets
consensus of opinion is that as soon
Stock carried on conservative margin
as the stringency in the money situa-
tion is relieved the market will react
Members
to these forementioned favorable fac-
Ito.ton Stock Exchange, Detroit Stock Exchange
tors.

Municipal
and
Corporation
Bonds

W. G. Souders
& Co.

James D. Crowley & Company

558 Penobscot Building

Phone Main 1800 for Quotations

Cleveland

Income Tax
and Costs.

Chicago

5'

Commonwealth - Federal Savings Bank

OF DETROIT, MICHIGAN
At the Close of Business February 28, 1920, as Called for by the
Commissioner of the Banking Department

But there is much more to be
learned along these lines which will
prove of inestimable value.

RESOURCES
Bonds, Mortgages, Loans and Discounts
Real Estate, Branch Offices and Fixtures
Cash and Reserve
• •

In this one matter alone the Cer
'tilled Public Accountant is doing
much to increase the earnings of pro-
gressive firms.

Capital Stock

LIABILITIES

Stocks

The Young People's Auxiliary of
Shaarey Zedek announce one of their
regular weekly dances for Sunday
evening, March 7, in the gymnasium
of the synagogue, corner Willis and
Brush streets. These weekly danc-
ing parties have proven an endless
source of enjoyment to the young
members of the Jewish community.
A spacious and smooth dancing floor
and Finzel's excellent orchestra serve
to make these Sunday night infor-
mal dances very popular.
The Auxiliary will hold its regular
bi-monthly meeting Wednesday eve-
ning, March 10, in the vestry rooms
of the synagogue. While the name
of the speaker could not be ascer-
tained in sufficient time for this issue,
Mr. Jacob Berkowitz, president of the
society, assures one who will measure
up to the high standard of the earlier
speakers.
Miss Hattie Gittleman, in charge of
the Entertainment Committee, is ar-
ranging a musical program of unusual
merit. Dancing will follow the meet-
ing. Members are urged to attend
and to bring their friends.

Chicago By-Product Coke Co.
First Mortgage Seven Per Cent Serial Gold Bonds

Authorized and Issued $13,000,000

Dated Feb. 2, 1920.

Maturing Feb. 1, 1924 to Feb. 1, 1938 Inc.

Secured by a closed mortgage on real estate and plants costing about
$18,000,000; pledge with the Trustee of marketable securities having
a value In excess of $13,000,000; and the guaranty as to rrincipal and
interest of The Koppers Company and the Peoples Gas, Light & Coke
Company jointly and severally.

99 and interest, to yield from 7.10% to 7.25%

C. M. DEAKIN & CO.

Members Detroit Stock Exchange

801-2 Dime Bank Bldg.

Telephone Main 5480

5'

.1

•••■•■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■

Unsold orders at close of business on Wednetday

10 Bankers Trust Co.
105 Bower Roller Bearing Co.
15 Det. Seamless Steel Tubes, pfd.
10 First & Old Det. Nat. Bank
20 Michigan Stamping, pfd.
C100 Northern Sugar, nal
20 Peninsular State Bank
300 Peninsular Stove

1

20 Peoples State Bank
100 Scotten Dillon
50 Security Mtg., pfd.
50 Security Mtg., corn.
4 Stevens Duryea, coca.
4 Stevens Duryea, pfd.
10 Timken•Detrolt, pfd.
20 Wolverine Truck

O'Hara, Ferriss & Co.

■
■
■
■
■ ■
■

A. W. WALLACE & CO.

Detroit

New York
Grand Rapids

II

■
■
•
■
■
■
■

• •
■

■

Members Detroit Stock Exchange

Second Floor, Dime Bank Bldg.

LI

•

Cherry 829 •

Listed

and

Unlistid
Stocks

■

I■■ mmummus•wilwassmiummnisziriminlii

,

)

OTIS & COMPANY

A. W. WALLACE & CO.

Members of New York, Detroit, Cleveland, Chicago
Stock Exchange)

ORDERS EXECUTED IN MOTOR, RAILROAD AND INDUSTRIAL

Members Detroit Stock Exchange

STOCK ON ABOVE EXCHANGES

Second Floor Majestic Bldg.

V

Penobscot Bldg.
Cherry 2800

CADILLAC 6502

..s

S 9,360,172.38
205,127.88
1,937,715,68

$11,503,015.94

750,000.00
130,172.42
10,622,843.52

$

Surplus and Profits
Deposits

$11,503,015.94
OFFICERS
GALVIN, Chairman of the BoardCONIFORT A. TYLER. Vice•President
• J. IV. McCAUSEY, ('resident
F. H. TALBOT, Vice-Pres. & Cashier
FRANK WOLF, Vice-President
A. It. :MOORE, Vice-President
C. F. BIELMAN, Vice-President
JOHN A. NEYMOUR, Asst. Cashier
II. W. JORDAN, Asst. Cashier

Dime Bank Bldg. Cherry 271
Woolworth Bldg., New York

M. K

SHAAREY ZEDEK Y. P. A.
WE DANCE SUNDAY;
WEDNESDAY MEETING

Stocks

NNW

CONDENSED REPORT OF THE

The Income Tax has done much
to indicate to business men at large
the relation of costs to income.

Mambo, Fedora/

'Jolted 3tileos

fitossr.• Bush

THE PEOPLES
STATE BANK

STATEMENT OF CONDITION

At the close of business, February 28, 1920

RESOURCES

Loans and Discounts .
.
.
. $52,289,524.51
Mortgages
...
23,204,337.36
Bonds .
.
.
12,548,716.68
United States Government Certificates
and Liberty Loan Bonds
28,098,678.00 $116,141,256.55
Stock in Federal Reserve Bank
210,000.00
Banking House and Branch Buildings
.
1,250,000.00
Customers' Liability on Acceptances, Letters of Credit
and Travelers' Checks
2,388,869.84
Cash on hand and due from banks
21,562,335,36
$141,552,461.75

LIABILITIES

Capital Stock
$
2,500,000.00
Surplus Fund
4,500,000.00
Undivided Profits
687,707.78
Acceptances, Letters of Credit and Travelers' Checks
2,408,369.84
Liability, Acceptances of other Banks
3,230,873.29
Bills Payable Federal Reserve Bank
24,000,000.00
Secured by U. S. Securities
Commercial Deposits
. $45,336,084.46
Bank Deposits
9,059,336,91
Savings Deposits
49,830,089.47 104,225,510.84

OFFICERS

$141,552,461.75

JAMES 1. KEENA, Guthman of the Board
JOHN W. STALEY, President
A. H. MOODY, Cashier
F. A. SCHULTE., Vico-Presidont
D. N. SWEENY, A.s.t.nt Cashier
JOHN R. BODDE. Vice-Preshiont
D. E. LEUTY, Assistant Cashier
H. P. BORGMAN, Viee-Prosident
WILLIAM BRAASCH, Assistant Cash'.
P. W. SMYLIE, Vlea-Prsaidsnt
G. W. BEASLEY, Aasistant Cashier
R. T. CUDMORE, Vico-Prosidont
CURTIS C. BOGAN, Assistant Cubist
CHARLES H. AYERS, Vico-PresIdsnt
C. I. NORMAN, Managers Bond Dopartnriant
AUSTIN E. WING, Assistant to Prosidont GEORGE T. COURTNEY, Auditor
RODERIC.K P. FRASER. Mannar Foraien Dopartsont.

RUSSELL A. ALGER
GEORGE H. BA.RBOUR
W. T. BARBOUR
JOHN R. BODDE
M. P. BORGMAN
H. M. CAMPBELL
R. S. COEBURN

DIRECTORS

C. A. DU GHARME ROBERT S. MASON
FRANK J. HECKER FRED T. MORAN
FRED W. FKIDGES FRED T. MURPHY
J. C. HUTCHINS M. J. MURPHY
JAMES T. KEENA W. HOWIE MUIR
H. B. 1_EDVARD TRUMAN H. NEWBERRY

HUGO SCHERER
F. A. SCHULTE
ANGUS SMITH
R. W. SMYLIE
JOHN W. STALEY
HOMER WARREN

•

