Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-01-06

Hotes cover subSiuiarV companies bno
are indorsed by the parent organization
1t Is expected that a public ofering or
the two issues will be made slmulta-
neously during the coming week, AL
though the price has not yet been def
nitely determined by the bankers. This
Will provide the Bell Telephone system
with sufficient money TO carry out all
improvement. new construction and eN-
tension work necessary to meet It's 1919
business and also provide SUFFICIENT
funds to pay off s40,000,0oo OF one
year per cent notes on February
next,
Liberty Loan bonds were moderately
active on Saturday morning, with
tendency toward a slightly higher level
OF quotations. There was said TO have
been fairly good buying OF the fourth
AIS, which were quoted at around
95.6069565
Anelo-French IS were IN better de-
mand and larger turnover Of the is
sue was recorded than on any similar
halliday session for some time past
City of Paris 6s advanced fractionally
and are now quoted at close TO par. whlle
virtually all the foreign government
issues were somewhat higher than the
closing quotations Of Friday.
In the railroad list the feature was
tho activity and strength in Southern
Pacific convertible 5s, which advanced
sympathetically with the rise in the
company's stock. These bonds are now
quoted several points above the levels
obtaining near the close or 1918.
New York traction issues were irregu-
lar. without much price change The
traction situation, by the reason OF the
recent developments, still presents an
unfavorable aspect.
Industrial bonds were quiet, with
small price changes being recorded
throughout the list.
Great Western Power system is re-
ported by Bonbright & Co.. Inc, IL
show for the month of November gross
earnings amounting 10 S4Gs,262. an In
crease over November. 1917. OF Slo"2OS.
or 2s5 per cent net earnings. S3OA,l@' I;
an increase Of $4,000. or 35.i per cent
For the twelve months ended November
80 gross earnings were sA0o2.6tt, ar
increase over the corresponding period
OF 1917 Of s5s5.e4i.' or 14,7 per cent :;
net earnings, s2.1s5.33l, an increase of
S26e,s9s, or 10.7 per cent.
A. B Leach & CO., Inc. are oferins
100000 Michigan Light Company FIRST
and refunding mortgage per cent gold
bonds. due March 1. le46, at 50 and
interest. yielding $50 per cent. This
is a constituent company OF the Com
monwealth Power. Railway and Light,
Company The bonds are secured by
an absolute first lien on the, ,company's
properties in saginaw and Manistee, and
by lien on properties in other cities
A canvass of territory to which the
Nyat,n ISIi I'ol1nanN off Road
ing, supplies power. is reported as show
ing that increases in nonwar business
are meeting the reduction in business
due to cancellation Of Government work.
The open winter and freedom from
transit difficulties. due 10 snow, as COM
pared with last year, together with in
creased fares. are responsible for in-
creases in earnings Of the Reading Tran
sit and Light Company.
II is reported on behalf of the New
Jersey Power and Light Company that
it's territory is being rapidly transform
ed from n war TO a peace basis. and That
the business of the company continues 10
grow steadily.
The PENNSYLVANIA Utilities Company
is benefiting il IS reported. by the start
ing up Of the coment industry In its
territory which had been almost entire.
: ly shut down by the coal regulations,
and this is more than offsettiug any re-
duction in load due to cessation of Gov
/ ernment work.
Speaking OF The financial outlook for
1919. Winslow Taylor d Co., Widener
Building, say:
"Gt must be admitted that there are
several great problems to be solved III
order that our nation may again resume
a normal status in its industrial ard
financial existence. We have every he
lief however. that there are sufficient
men of ability and tact both In the
ranks OF industry and labor to bring
about a satisfactory settlement of every
vital point in question. The new year
promises 10 be fruitful Of the reward
the United States has so Justly won,
and We feel il the duty OF every citizen
20 work toward that end