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Show I, I I A A 0000 Hlrf to trade j Your paper to- morrow will con- I tain a page adver- ! I tisement with one I ! hundred One Dol- j I lar Bargains. j You simply can- j H not afford to miss (ELKS' PURPLE DAY OGDEN ELKS' PURPLE DAY AT LAGOON WED-I WED-I NESDAY, JULY 14. REGULAR REG-ULAR OLD TIME ELKS' PICNIC. EVERYBODY INVITED. IN-VITED. FEATURES GALORE. GA-LORE. PACK UP A LUNCH BASKET AND COME ALONG. Advertisement. i Seasonable ffi ' Underwear WM:MK ROB ABLY the most important yr factor in remaining cool during J. these sultry days lies in your underwear. We've carefully selected only the breeziest of lightweight garments one and two piece models of; the sheerest material, in a sanitary weave that will not cling to the body. You should have a number of these satisfaction-giving undergarments. ??MB!ggg!-WIgBaBHBi.l Jll'l I $60,000,000 I ARMOUR AND COMPANY 7 10-Year Convertible Gold Notes Dated July 15, 1920, due July 15, 1930; Interest payable January 15 and July 15 Principal and interest payable in United Stales gold coin at the Continental Commercial Trust and Savings P.ank. Chicago, or nt the trustee's agent the Chase National Bank of the C ity of New York. Coupon notes in interchangeable deLomrnatlons of $1000. (500 and 100 registrable ar. to principal only Redeemable at 105 and accrued interest at the option of the company, in whole or in part, upon sixty days' notice Interest payable without deduction of normal federal income tax not in excess of 2 CONTINENTAL AND COMMERCIAL TRUSTAND SAVINGS BANK, CHICAGO, TRUSTEE Convertible on and after January 3, 1921, nnd prior to maturity or redemption date, par for par into Armour and Company class "A" common b'tock to be presently authorized, in which under present laws will be exempt from personal property taxes in the State of Illinois. Further information in regard to this issue is given in a letter of Mr. J. Ogden Armour, presi- I f dent of Armour and Company from which wc summarize as follows: The proceeds as derived from the $7,540,000. During this period over $85,- sale of this issue will be devoted to the 761,000 net earnings have been retained reduction of current liabilities, thereby in tIie business, after paying dividends not increasing present indebtedness. amounting to $8,993,000. The indenture These notes will be the direct obli- und,er hich lhfse notes ar? t0 ube ,s" - A . sued will provide, among other things, gations of Armour and Company. that no additional mortgage shall be Total assets as of November 1, 1919, placed on the properties and assets of (the close of the company's fiscal year), the company, which does not equally were $490,809,643.34. There is no lien secure these notes by the lien of such l of any kind upon the property of the mortgage. The indenture will further-company, further-company, except its first closed mort- more contain a covenant that current gage (dated June 1, 1919, due June 1, assets of the company shall be main-1939,) main-1939,) for $450,000,000, which is a lien tamed in an aggregate amount equal upon approximately $57,500,000 out of to at least one and one-half times all a total of $147,811,885.52 capital assets. current liabilities, including these notes i ' The net current assets of the company, and any other issue of notes or deben-after deben-after giving effect to the proceeds of tures at any time outstanding. The the $60,000,000 of these, will be approx- company proposes to reclassify its can-imately can-imately $230,000,000. During the four ital stock and authorize $150,000,000 years ended November 1, 1919, the av- class "A" common of which $50,000,000 erage annual earnings of the company will be immediately issued, and $150,-were $150,-were $26,139,245 available for interest 000,000 "G" common stock, all to be charges after federal taxes. These fig- immediately issued; of the unissued ures do not include earnings of South Class "A" stock, $60,000,000 will be re-American re-American subsidiaries which, for the served to be available for exchange for L same periocl, averaged approximately the 7 per cent ten-year convertible gold Wk $6,000,500 per annum and which latter notes. Class "A" common stock will sum has been retained by the subsidiar- have preference as to cash dividends up ies to finance their development and to 8 per cent over class "B" common cor this reason has not been taken on stock, and after 8 per cent has been J the books of Armour and Company. paid on class "B" common stock in any These combined earnings would total year both classes of common stock will $32,142,745. The average annual inter- share alike in percentage of additional est charges (including interest on dividends paid during such year. Each bonds, but excluding interest on deben- share of class "A" common stock shall I tures heretofore converted into prefer- be entitled to all the rights of any share red stock) have been approximately of the common stock of the company. PRICE $94.84 AND INTEREST, YIELDING 7.75 I All lepal matters will bo approved by Messrs Mayor, Meyer at Australian and Piatt, Chicago and Rushmore, Blsbec and Stern New York City. Temporary negotiable certificate?, exehangeable for definitive notes, will be delivered when issued and received by us Continental and Commercial Trust and Savings Bank I Chicago I Halsey, Stuart & Co. Guaranty Trust Company ft k Chicago New York of New York f The National City Co, Harris Trust & Savings Bank III New York Chicago Chicago R KVEsk The above statements nre not Guarantee!, tut based upon Information which be believe to E tc accurate and reliable, sri upon w h:- h wc ha e acted in thy puichas- of these notcs BjS2 "EXCUSE MY DUST" Wallace Reid. in his greatest great-est picture ai Utah Theatre Sunday. Last times today, Shirley Mason in "Love's Harvest." Har-vest." Special children's matinee mat-inee today. "EXCUSE MY DUST" Wallace Reid. in his greatest great-est picture at Utah Theatre Sunday. Last times today, Shirley Mason in "Love's Harvest." Har-vest." Special children's matinee mat-inee today. For Subscription ond Advertising Department, Call Phone No. 6. |