THE BEE: OMAHA, TUESDAY, UKCEMHKK 9, itfis.
11
GRAIN MARKET
Omaha, Neb.. Dee. I.
drain arrival! today 'were II ran of
wheat, I cara of corn, 11 cara of oata,
10 cara of rye and ( rara of barley.
Wheat rant I eanu blaber to 1 etnta
lower, tba market generally baring an
easier tona. Corn waa 1 to I canta blb
r and oats anchanied to cant up. tha
bulk being cant advance. Rya waa up
t canta.
No l dark norther sprint wbaat sold
at IJ 16. tha top price of tha aeaaon for
thia market.
Wheat No. i bard: 1 car, 11. It; 1 car.
I!. 55 (smutty); I cara. 11.14 (amutty); 1
cara, li.it; I cars, 11.(3; t cara, (2.61; t
can, (3.10; t car, 12.(0 (amutty). No. 1
hard: 1 car, f 2.4S; 1 cara, ti.it; 1 car,
11.4 (amutty). No. I hard: 1 car, $3 48;
1 car. 12.44; 1 cara, $1.4 J; 1 cara. 13.4
(amutty); 4 cara, 13.40 (amutty); 1 car,
LIBBY, McNEILL and libby
CHICAGO
DIVIDEND NO. A3
Dltldeod of FIFTY CENTS (1.40) tor shire
.! the Capital Stork of Llbby, McNeill A
l,IMv. will be paid on January Sth. 1930. to
MiKkholdera of record December 13. 1918.
liown on the bnoke of tha Company.
On accouat of annual meeting, transfer,
hooss oil! be cloeed from December IS, 1918.
to Jiniiitr f 11)211. Inclimlre.
MARRY WILLIAMS, Secretary
JtJ.lt (amutty). No. 4 hard: 1 car. 13 43;
1 car, a care. e.tv; e i-aie -.
1 car, 1.3; 1 car, 31.34 (amutty); 3 cara,
I3.3& (amutty); I cara, 13 35 (yellow). No.
( hard: 1 car, 13.30; 1 car, $2 34 (yellow).
Sampla hard; 1 car, 12 85. No. 1 north
arn aprlnc 1 car, 13.15 (dark). No. 4
ncrtharn sprint: 1 car, tJ15: 1 car, $3 .6;
1 car, 13.30: 1 car. S3.43. No. 6 northern
aprlnc 1 3-5 ran, 13.46: ( cara. $2.53.
No. 1 mixed: 1 car, 32.44 (smutty): 1
car. 11.47 (amutty): l car. 13.17 (durum);
I cara, I3.1S (durum). No. S mixed: 1
car, 12.13; 1 ear, 13.13. No. 4 mixed:. I
car. 33.45; 1 car, 13.10 (durum).
Corn No. ) white: 1 car, 11.63: t cara,
11.63. No. 4 white: I cara, 11.40 (new).
No. 6 white: 1 car, 11.(0. No. 3 yellow:
1 car. 11.67. No. 4 yellow: 3 cara. $141
(naw). No. 6 yellow: t cara, 11.40 (new);
1 car, $1 31; I cara. 3134 (new). No. 4
yellow: 1 car. 11.34 (new). No. 3. mixed:
1 car. 11.45 (old and new). No. 4 mixed:
1 car. 11.41 (new): 3 cara, 11.40 (naw);
ll car, 11.3 (new). No. 5 mixed: 1 car,
11.31 (new snippers' lota); I car, lin
(new ahlppera' lota); t cara, 11.33 (naw);
t car, 11.37 (new).
Oata No. I white: 3 cara, 77 Mo. Noi
4 white: 1 car, 77c.
Rye No. 4: 1 ear, 11.47.
Barley No. 4: 1 car, 31,41. Sample:
1 car, 31.37.
OMAHA GRAIN MOVEMENT.
Receipts
Toaay.
...33
... 34
... 11
... 10
... 3
Wheat
Corn .
Oata .
Rya ..
Barley
Today.
.... 7
.... 71
.... 13
.... i
Afo.
lOt
44
13
t
I
Ato.
4
14
ii
RECEIPTS IN OTHER MARKETS.
Chicago
Kanaaa City
St. Loula ...
Mlnnaapolla
Duluth
Winnipeg ...
Wheat.
33
413
130
(31
It
444
Corn, j
14
34
161
Oata
57
40
' 77
PRIMART RECEIPTS AND SHIPMENTS.
Recelpta-- Today. Tear Afo.
Wheat 1,743,000 3,330,000
Corn 1.264, 000 , 1,044.000
Oata 484.000 4 1,(40,000
Shipments
Wheat
Corn
Oata
1,133,000
441,000
tit, 000
Wheat
Corn
Oata
Rye
Barley
Sbipmenle
Week
Ago.
74
47
14
11
f.
Week
Vear
Ago.
1(9
108
41
11
11
Tear
,.. t(S,00t
,.. SSS.000
,.. 317,000
EXPORT CLEARANCES.
. ' Today. Tear Ago.
Wheat and flour 1.337,000
Chicago drain and ProvUloaa,
Chicago, Dec. 3. Notwlthatandtng bull
ish eentlment due to proapectlve aettlement
of the coal strike, corn weakened In price
today, demoralisation of tha hog market
waa chiefly responsible. Corn closed
heavy. lHo lower to o advance, with
January. tl.l6U5fc. and May. 31.331,
01.33. Oats finished Ho down to He gain,
and provisions unchanged to 40 cents de
cline. Corn at first had a decided upward
tendency, moat traders assuming that tha
railroads would utillie for fuel supply
purposes all available rolling atock and
motive power and would tbua ourtall the
movement of grain. It waa also- expected
that food manufacturing Induatrlea would
aoon become active buyera again, miring
the laat bour of tba aeaslon. hoWever, all
other factora were ecllpaed by sever
breaka in tta value of hogs. Aa a conse
quence selling of corn waa general and
last prlcea were about the lowest of the
day. Arrlvala of hoge here today far ex
ceeded the usual number and promised
Provisions sympathised with tba eollapea
of the hog market, and with tb naw low
record of British exchange.
Art. I Open. I High.
Corn. I .
Pee. 1.40H 1.41
May I 1.34 1.35
July I 1.33H ! I
Oata.
Pec. ,7t .11
May .10 .104,
July .76 H .7
Pork.
Jan
May 34.00 34.00
Lard.
Jan. 23.10 31.S0
May 23.15 23.30
Ribs. I
Jan. 13.70 118.85
May, 1 11.80 Ilt.t5
Low. I Close. I Sat.
1 1344
t.11
111
.7T
33.70
53.47
!2.5
It 66
11.80
1.11
1.83
1.33 44
.7T
.71
.75
31.00
04.15
23.15
23.37
18.30
18.15
Dry Goods.
New Tork, Dec. t. Cotton goods, and
yarns ware firm today. An advance of 7
per cent In finishing coata waa due to tn
,, In wires Burlap prlcea were
easier whllo wide aheetlnga advanced.
ltl
1.11
1.11
T7t4
11.00
31.70
33.67
32.17
lt.tt
lt.lt
Market and Industrial News of the Day
LIVE STOCK
510,000 Shares
Montgomery Ward & Co,
Incorporate!
(lllinoi Corporation)
Common Stock
(Having no Par Valve)'
Dividends Exempt from Federal Normal Income Tax.
Exempt from Peroonal Property Tax Whoa Held by Reoidenta of UlinoU.
1,000,000 shares Common Stock authorized.
Of this amount 150,000 shares are reserved
for employees of the Company; 340,000
shares are held by new 1 interests in the
Company; and 510,000 shares are already
applied for or are to be sold to the public.
Transfer Agent ,
Continental and Commercial Trust and Savings Bank
Chicago
Banker's Trust Company, New York City
Registrars
First Trust and Savings Bank
Chicago
First National Bank of the City of New York
Listed on tha Chicago Stock Exchange
Application will ba made to list
on New York Stock Exchange
BUSINESS. Montgomery Ward & Company was established in 1372 as the first
catalogue and mail order house in the United States. It was incorporated m
Illinois in 1889 and reincorporated in New York in 1913. Because of the pas
sage of the New Illinois Corporation Law, the company has been reincorporat
ed in Illinois, thus making all of its stock exempt from personal property taxes
when held by residents of Illinois.
SALES TERRITORY. Since the organization of the company its volume of
business and sales territory have constantly increased until now orders are re
ceived from erary state and outside territory of the United States, as well as
foreign countries, the sales to date for 1919 being approximately $90,000,000.
Salient Features
From the letter of Mr. Robert J. Thome, President of the Company, and the
report of Messrs. Arthur Young & Co., Certified Public Accountants, we
'.ummarize as follows:
98 OF THE COMPANY'S ORDERS are accompanied by cash
in advance.
MERCHANDISE IS BOUGHT directly from manufacturers and
sold by mail directly to consumers, largely eliminating all in
termediate profits. The company itself operates factories and
is interested in many others.
IN VIEW OF THE FACT that company has been in business
nearly 50 years and that millions of dollars have been ex
pended in advertising and distributing catalogues, and that
hundreds of thousands of customers have dealt with it con
tinuously, it is clear that the Good Will, catalogues and lists
are of immense value. It is believed that the Good Will is
equal to entire net assets of company, although neither these
nor other intangible values are carried on its books as assets.
SALES FOR 1918 were over $76,000,000, an increase of over
100 in the past six years; and the estimated sales for 1919
show an increase of almost 150 during that period.
NET PROFITS have shown an increase from $1,653,481 in 1913 v
to $6,390,181, before taxes, in 1918.
THE ASSOCIATION with men who have already become large
holders of this new stock will greatly benefit the company in
broadening its merchandising field, and the company, con-
tinuing under the same management, will be greatly
strengthened.
THE COMPANY has specific plans for large developments,
which will balance its facilities for new warehouses and dis
tribution covering the entire United States in the most econom
ical and efficient manner. I v
THE FINANCING of the company is ample to carry out these
projects and to maintain a generous cash reserve, the balance
sheets showing cash on hand, $29,701,495.16 ; Liberty Bonds,
$1,609,443.25. .
The legality of this issue has been approved by Messrs. Winston Strawn &
Shaw of Chicago ; Messrs. White & Case of New York City, and Mr. Henry
L. Moses of New York City.
For subscription, subject to allotment, we offer this stock
At $45.00 per Share
When, as and il Uiued and ractlvtd by u
a .
John Burnham & Co.' H. P. Goldschmidt & Co.
41 S. La Salle Street, Chicago 37 Wall Street, New York
The statements in thia advertisement, while not guaranteed, are based
upon information and advice which we believe to be accurate and reliable.
Omaha, December t, lilt.,
Receipts were Cattle Hois. Sheen
Eatlmatea Monday .. 4,300 4.300 30,000
name aa last weeK.is.sfe 5,030 14,770
Same two weeka aro.22,617 1,574 14.440
tame three was. ago. 20,336 6.788 33,468
same a ays vear ago.i4.420 11,073 19,021
Receipts and disposition of live stock
at the Union Stock Yards. rmh Kh
for 34 hours endlnf at 1 p. ra., December
a, iriw.
RECEIPTS CARS.
Hrs 4
. Cattle Has Shp Mis
v.. . at, m oi. .,...t 8 10 ...
Union Faclflo 146 It 21
C. N. W;, eaat 11 1 6
CAN. W.. west.... 14 10 10
C, 8t. P., M. 0 40 1
C., B. A Q., east 1 i J
C.. B. d. west 16 18
C . R. P., east t 3 21
Illlnola Central S t 1
Chi. Ot. West............. i .
Total
167 it 13
DISPOSITION HEAD. .
i
! MORS
Mcrrla A Co
8wlft A Co
Cudahy Paok. Co....
Armour aV Pa
J. W. Murphy
Lincoln Pack. Co....
MlKglna Pack. Co. ...
John Rnth A- Ann.
Mayerowlch A Vail!!
P. O Dea
Wlson A Co
W. R. Vin Rant A rA
W. W. Hill A Co....
F. P. Lewie
J. B. Root & Co....
J. H. Bulla
Rorenatork Bros
F. G. Kellogg
WArthelmi A
Elite A Co
Mo. -Kan f!. r f
E. O.v Christie
Bilker
John Harvey
Jensen & Lundgren..
Dennis & Francis. . . .
Check Krebs
Omaha Pack. Co....
Midwest Pack. Co..
Cud'y From gloujc Cy
Morris. Sioux Falls..
Other Buyers
Cattle
861
, 1,406
, 1.211 .
- 1,316
11
28
24
6
1
75
34
47
353
71
22
227
97
274
141
8
(2
134
447
83
161
' 8
6
2.412
1.667
1.706
t.388
1,814
481
Sheep
1,10
1,048
4,001
1,681
126
262
. Y.Hi
Total , 10,120 7,111 11,324
Cattle There was a very light run of
cattle here for a Monday, estimated re
ceipts being 8,100 head, which Is less than
half of the alze of receipts, the same as
last week, and very small Indeed as com
pared with 22,600 the same day two weeks
ago.
There was quite a sprinkling of native
beef In the pena, aome of which waa of
very good quality. The market was slow
and prices ranged from steady to a quar
ter higher than laat week's olose. Butcher
atock was only In fair demand, but after
low prices of last week values were fully
steady to 15 and 25 cents higher in spots.
tin
rmmnu. em lAUO
Send for this Useful
Primer for Investors
To help inexperienced In
vestors we have prepared a
little booklet "What You
Should Know About Invest
ment." It is easy to read,
easy to understand. It con
tains answers to many im
portant questions about Be-'
curities. It will be sent to
you free on reques for
OB-269.
JheNationalCity
Company 1
i'nrrerpondent Offinae oral SO Cltta
Omaha First National Bank
Building
Telephone 33U Dons! as
Trader buyera carried off quite a iupply
of feeders and as a result were not buying
aa actively this morning. With small
country demand prices were about ateady
on the fleshy feeders and some of the
light kinds were weak. Western beef was
very scarce and prlcea ateady to atrong.
BEEF STEERS.
No. Av. Pr. No. Av. Pr.
14 182 til 1 15 846 tit 00
IT 1316 II 00 10 1011 It 60
10 1362 t 60
8TEERS AND HEIFERS.
33 688 11 15 23 lit 11 50
19 1081 12 00
Quotations on cattle: Choice to prime
beeves, 114. 60414. 00; Good to choice
beeves, 412.60014.00; fair to good beeves,
tl0.609i12.60u. common to fair beeves,
t9.00&10.6t; choice to prime yearlings,
114. "6f 16.25; good to choice yearlings,
1:2.50414.60; fair to good yearlings, 111.00
4713.60; common toi fair yearlings, $4. 004)
11.00; choice to prime helferM, tlOOOw
til. 75; good to choice heifers. 19 O04MO.76:
good to choice cows. 47.75 Ji 9.00; fair to
good cows, 44. 25 7. 60; common to fair
cows, $5.UH(ft 6.26; choice to prime heavy
fetderB, 110. 60(6 12.60; good to choice feed
err, 19.2510.50; medium to good feeders,
17.75fcJi.2S; common to fair feeders. $6.75
7.76; good to choice stockers, $9 0081
1 1. 2 r. ; fair to good stockern. 17.50(9.00;
common to fair grades, $8.00$ 7.:;; stock
helfors. $6.007.25; stock cows. $5.25
6.50: slock calves, 16. 26 10.36: veal calves,
$60014.50; bulls, stagx, etc., $6.25(ii
9.15; choice to prime grass beeves, $12.60
f(! 13.60; good to cholco grass beeves,
tlO.5Orpl2.0O; fair to good grass heevm,
tS.75(tPl0.50; common to fair Kraes beeves,
!7.25g8.?5: Mexican beeves. 16 60.0.
Hogs There was a fairly good run of
hogs here today, estimates calling for
acme 4,300 head, over M. 000 more tt-sn
Monday laat week. There waa a good de
mand and trade fairly active at generally
atrong prices compared with Saturday.
There did not Seem so very much differ
ence in prices of good medium and liaht
weight hogs, but there were spots were
heavy to packers were around 104jl5c
liltrher. Comparatively few hogs nnld
down to 112.75. Bulk of today's sales be
ing t!2 90(S18. 25. with tops for full lne
at til. 35. piece selling at 113.40. Qua lit
of receipts waa not as good as last week.
110(18.
Short Term Notes
Quotations Furnished by Peters
Company.
Bid.
American Tel. eV Tel. ta 1934.. 96
American Tel. A Tel. 4s 1915.. 18
American Tobacco 7a 1921. . . .1004
American Tobacco la 1 921. . . .101 V
Anaconda Copper ts 1939 97
Anglo-French Ext. 6a 1920.... 16
Armour Co. con. deb. 6a 1930.103
Armour Co. conv. deb. 6s 1921 103
Armour Co. conv. deb. 6a 1931.101
Armour Co. conv. deb. 6a 1924.101
Bethlehem Steel 7s 1921 100
Bethlehem Steel 7a 1923 100
British 1921 17
Canada 6s 1921 98
C. B. A Q. 4s 1921 VS.
Cudahy Packing Co. 7a 1933.. 100
Lehigh Valley 6s 1923 100
Liggett A Myers 6a 1921 98
Proctor & Uambln 7a 1922. . ..V403
Proctor A Gamble 7s 1923... 103 '
Russian Rubles. 6H 1936.... 38
I'll lop Pacific 6s 1938 101 1s
Wilson conv. 6s 1921.. 4Vi
First Liberty 3 V, a 99.70
Liberty 1st 4s..,.. 94.00
Liberty 2d in... 91.23
Liberty 1st 4s 94.16
Liberty 2.1 U, s 93.63
Liberty 3d 4Va 94.46
Liberty 4th 4s 92.68
Liberty 6th 4s 99.03
Liberty Sth 3s 99.02
Trust
Aakad.
64
9m
101
103H
97 4
95
104
100H
100H
974
98
94
ioih
loon
99 V,
103
IMVa
n
102
94
cows and heifers, 18.0013.00; canners.
$5.00(8 7.00: veal calves, 18. OOff 15.00;
Blockers, t6.004J'8.00; feeders. $8.0040 11.00;
feeding cows and heifers, t5O08.00.
Hogs Receipts, 1,000 head: market 15
f25c lower; light, tll.504)'13.00; mixed.
tl2.7611.36: heavy, tlt.75jj 13.10; bulk
of sales, $12,754) 13.10.
Sheep and Lambs Receipts. 7,000 head;
market steady.
Ing sows, roach. tll eOtf IJ.00; pigs, llt.10
OH 35.
Mheep and Lambs Receipts. 1,100 head;
market ateady. Lamha, tlt.t091t.00;
culls and common, 17.004)19.00: yearling
wethers, tlO. 60411.60; ewa, medium and
choice, $. 609.0O; eulla and common, tl.10
t6.09.
Minneapolis drain.
Minneapolis, Pec. I. Flour Vnchanfed.
Harley $1.2441. 48.
Rye No. 2. tl.67UI.
Brag 441.00,
No. A v.
41. .184
43. .868
61. .197
66. .290
64. .249
81. .208
78. .213
Sh. Pr.
160 $3 25
70 12 80
70 12 90
70 13 05
... 13 15
13 25
13 35
40
No. Av.
4. .859
44. .419
57. .293
37. .214
62. .197
74. .238
Sh. Pr.
180 $12 75
140 12 85
... 13 00
... 13 10
... 13 20
... 13 30
Sheep The week opened out with a
good sized run of sheep and lambs, about
20,000 head showing up. Demand was
reasonably active from the start and de
sirable fat lambs sold freely at figures
1026o higher than last week's close.
Beat fat lambs brought 115.25 with good
klntis selling around 1 1 4. 7 5 1 6.00. Steady
prices bought most of the sheep offerings,
best ewea landed at $9.00 with good klnda
around $1.5-0. Wethera and yearlings con
tinue scarce.
There waa vary little demand Tor feed-
lnr classes and this branch of the trade
presented a quiet appearance with -values
unchanged. Fleahy feeders are atlll quot
able around f 18.50 dt 13.7B with good
strong grades at 113.00l912.50.
FAT EWES.
11 fed.. .111 18 65 41 fed.. .107 It 00
77CU110.. 90 6 60 .
FAT LA MRS.
82 14 50 14 fed... 10 16 10
70 13 60
FEEDING LAMBS.
64 13 00 5 fed... 76 13 00
Quotations on Sheep Lamba, good to
choice, $14.604()i5.26; lambs, fair to good,
$14.00 14 60; fleshy feeders. $13.5ot
14.00; good to choice feeders, $13.25
13.60; fair to good feeders, $12.76 13.26;
cull lamba, tl0.0012.00; yenrlmgs, $12.00
8)13.00; wethers, $10.5081' 1.;.; ewes, goon
to choice, $8.609.00: fair to good ewes,
IS. 008.60: good feeding ewes, $6.006.76;
culls and canners, $,",.00 6.00.
14 fed. .
47 fed..
It fed.
Kansas 4'lty Live Mock.
Kansas City, Mo., Dec. 8. Cattle Re-
criotK. 33.000 head: market steady to
weak; heavy beef steers, choice and prime.
$I6.15C18.50; mediuui ann goon, jni.za'qj
16.15: common, $8.2578)10.25: light weight.
good and choice, tl2.6017.76; common,
and medium, SY.ioKpia.ev: Duicner came,
heifers, 16.2513.75; cows; 16.1512.00:
cannera and cutters, 5.no4je.oo; veal
calves. $13.25016.60; .feeder steers, 17.60
13.00; stocker steer, $5.5041 10.00.
Hogs Receipts, zo.uoo neaa; sieany 10
50 cents lower; bulk. $12.86S 13 26;
heavies, 1 3. 00 ffi 1 3.45 ; mediums, $12. so
13.90: lights, !12.7513.25; light lights,
$12. 251 13 00; packing sows. $12.25012.75;
pigs, $U.0012.25.
Sheep and Lambs Receipts, 7,000 head;
market 10 to 16c higher; lambs, 114 .00 19
15.86: culls awl common, . 0041,13. 85;
yearling wethers, $10.75j12.60j ewes.
$6.60gi9.00; culls ana common, d.ztw
$0.25; breeding ewea, $7.5011.60; feeder
lambs, $11.00013.25.
Sioux City live Stock.
Sioux City, la., Dec. S. Cattle Re
ceipts, 7,600 head; market weak, 25c low
er; beef Hteers, rharred fed, $Jr2.60618.00;
short fed. tl3.00fffll4.60; rainy good Deer.
!7.no$8.00; warmed up, 9.6O12.60; fat
St. Louis Htock Market.
Kast St Loula. Ill I lee a I'mi.
Receipts, 13,000 head; market steady. Beef
etecrs. medium and heavy weight, choice
and prime, $18.0O19.35; medium and
giod, heavy, tll.7t17.75; common. $9.00
(S1 1176; light weight, good and choice,
$14.60(819.25; common and medium, $8.60
$14.25; butcher cattle and heifers, $6.76
&il6.00; cows, $6.76(&11 60: canners and
cutters, $5.00if 6.60; veal calves, light and
handy weights. $10.60 15.60; feeders
teers, t6.5Qm' 12.00; stockers steers, $6.25
10.60. '
Uogs-Recelpts, 21.000 hoad, 35181600
lower; tup. $13.76: bulk. $13.0018.6O;
heavy wolght, tll.164J13.60; medium
we. ant. $13 no 13.45; light weight, 11160
&13.45; light light, tll.7512.60; heavq
packing sows, smooth. 112.00 13.25; pack-
lir Buy'
( TEN A an
IpaykentJ rmi
PLM t Mobf
j Month
1 sT w ' a
Buy
ing
at the
Bottom
Now is the time, with
stocks selling considerably
below their recent high .
point, for the small Investor
to study more closely than
ever general market condi
tions, with a view to pick- '
ing up those securities that
through technical circum
stances alone are carried
well under their real value.
Let us keep you in touch
with the numerous favor
able opportunities pre
sented. Write Dept. OB-15 for
sample copy of the Current
Market Review and copy of
The Ten Payment Plan.
E. M. Fuller & Co.
Members of
Consolidated Stock Exch. of N. Y.
50 Brond St., New York
A
6
First Mortgage Bonds
DENOMINATIONS
$ 250
$ 500 .
$1000
They bear Interest 6, semi-annually.
Tax free in Nebraska.
If you have been looking for a safe investment,
this one will please you. Descriptive literature
ready. Your order received by mail, or in person.
American Security Company
N. W. Corner 18th and Dodge.
Douglas 5013
ML
7
THE NUNNALLY COMPANY
New Issue
Transfer Agents!
Bankers Trust Co., New "iork, K. T.
Citiiens Southern Bank, Atlanta, Qa
(FOUNDED 1888)
CAPITALIZATION
160,000 SHARES (no par value)
COMMON STOCK
No Bonds, Notes or Preferred Stock ;
Beeristrars:
Chase National Bank, New York, N. T.
Trust Company of Georgia, Atlanta, Oa.
BUSINESS i.
ITie Nunnally Company, manufacturers of high-grade candies, is being incorporated under the laws of
Delaware as a reorganization of the Nunnally Company (of Georgia). The business was founded in 1885 in
Atlanta and since its formation has shown continuous and substantial growth. The Company is the largest
manufacturer of high-grade candies in the. Southern States, with a distribution national in character. James
H. Nunnally, the founder of the business, will remain in active management of the Company's affairs as
Chairman of the Board of Directors. k
PURPOSE OF REORGANIZATION
The purpose of this reorganization is tt enable the Company to increase the national distribution of
Nunnally products, and to expand its facilities for carrying on business. ,The increased capitalization will
result in a number of additions to the Company's plant, located in Atlanta, as well as an increase in the
number of retail stores in operation throughout the tountry.
PLANT FACILITIES AND STORES
The Company's candy manufacturing plants are modern and completely equipped in every respect.
About five million pounds of high-grade candies are turned out annually and with the augmented facilities
, this output will be greatly increased. . Nine retail stores, advantageously located in various cities, are being
operated at the present time. A further expansion along this line is contemplated. There are approximately
one thousand employees on the Company's payjroll.
SALES AND EARNINGS
Tha remarkable progress made by the Nunnally Company is indicated by the steady and consistent annual in
crease in tha volume of sales since the foundation of the Company, thirty-five years ago. In the 1917 fiscal year,
net sales stood at SI, 436,7 15.00. In 1918, net sales crossed the $2,000,000.00 mark, while in 1919 the total is placed
at 83,326,000.00 (two months estimated). Sales for the 1920 fiscal year are conservatively estimated at 84,500,000.00.
Tor the current fiscal year (two months estimated), the Company will show net earnings, before Federal taxes equiva
lent to 84.00 per share on the new issue of stock, while in 1920 it is estimated that earnings, before taxes, will
amount to at least $4.50 per share on the common stock now being offered at $23.00.
Tha Company haa regularly paid dividends from its inception. In view of the consistent growth in tha past and
tha excellent prospects for the future, and considering the conservatively estimated increased earnings for 1920, In
our opinion $2.00 per share can be paid annually on this stock, accruing from January 1, 1920. We look forward ta
the same steady growth and feel reasonably sure that conservative Increases In the dividend rate will be made from
time to time. At the offering price of $23.00 per share, an annual dividend of $2.00 will yield a return of 8.60&
and an annual dividend of $2.50 will yield 10.85. , .
PROSPERITY OF CANDY INDUSTRY
Tha constant and increasing demand for confectionery is well In excess of production. Tha stability and eon
'tinned growth of the industry is assured. Prohibition and the Increasing consumption of sweets ia the United
States have brought the candy business to a position of permanent prosperity. The old and well established candy
manufacturers, with wide experience and progressive management, are in the best position to take advantage of thia
increasing demand. -
The Nunnally Company, with its reputation for a high-grade product, and the wide distribution for its output,
is in an unusually strong position to profit by this situation.
Lafta2 dutaiU pertaining to thu issue havt hetn passed upon and approved by Messrs, Brown, Randolph Parker of Atlanta, G.
Messrs. Anderson, Rountrem & Crenshaw of Atlanta, Ga., and Messrs. Morion, Carr Baiter of Ue York, if. Y.; audits by Haskins
ef" Stile; appraisals by American Appraisal Co.
We offer these shares for subscription, subject to allotment, when, aa and if issued and reeeived by us. Wt ra-i
serve the right to reject any and all subscriptions or to allot a smaller number of shares than subscribed for.
t Application will he made in due course to list these shares on the New York Stock Exchange.
PRICE, $23 PER SHARE
BABCOCK, RUSHTON & CO.
SECURITIES SALES COMPANY
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The abowe information, while not guaranteed is obtained from sources we consider reliable, and we have depended upon the
jpvrchesing this stock.
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