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Show Nr'.W ISSUE -r-.V $15,000,000 WILLYS CORPORATION 8 CUMULATIVE CONVERTIBLE SINKING FUND FIRST PREFERRED STOCK Authorised, $15,000,000 To Be Issued, $15,000,Mo rar value 100; diviuonds pavaMo qoartorlv. September 1. r.' c-ni.er 1. March 1 and .lu ,0 j. ... able as a whole or in part or for :hc Siukin- Kmnl on any u.ite at Jl'. and accrued Jniaca-is va ",, davs" notice. L'i idcuds cvenipt from normal Federal Income Tax uuder the present !:.w CONVERTIBLE AT OPTlDN OF HOLDER INTO TWO SHARES OF COMMON STOCK Transfer Ageuts: Registrars: Mercantile Trust Compaiiv. New York The Clisse lat:onal Bank, Kt- Tr-v Continental & Commercial Trust & Savings Bank, Chicago First Trust & Savings Bank, Ciial'l Wc summarise as follows from a letter of .1. N. VVilhs, Erq.. I'rcsidont of tie Willys Corri-.; WILLYS CORPORATION, formerly the Electric Auto-Lite Corporation, in addition to its own business, plants and assets, including- valuable securities, secur-ities, is acquiring the New Process Gear Corporation of Syracuse, N. Y., pnd the Duesenberg- Motors Corporation of Elizabeth, N. J. A PURCHASE AND SALE CONTRACT with the Willys-Overland Company provides for the manufacture by the Corporation on a large scale of a re-slight weight six cylinder automobile already developed, including a spring suspension which is a revolutionary improvement. The contract further provides for the market of the Corporation's cars through the sales orpnj. zation of the Willys-Overland Company and a special unit organized for the purpose. NET TANGIBLE ASSETS shown by the Balance Sheet prepared by Messrs. Price, Waterhouse & Co., are 43,079,338.27, or $287 per share, and net quick assets alone exceed $101 per share of First Preferred Stock, exch-sive exch-sive of marketable securities which equal $121 per share additional, taken at book values of their net tangible assets. NET EARNINGS of the Auto-Lite and New Process Gear divisions, for the five months ending May 31. 1919, are reported by Messrs. Price, 'Water. house & Co. at the rate of 3.41 times First Preferred Dividend require ments, and including 1916, 1917 and 191S, as averaging- 2.33 times Dividend Divi-dend requirements. These two plants now have booked sufficient business busi-ness to indicate a net profit, after all taxes, of over $6,000,000 for the I next 12 months, or 5 times the maximum annual Dividend requirements; these earnings are exclusive of any profits from sales of the new sis cylinder cyl-inder car. It is expected that sales of the automobile, manufacture c which is now under way, will largely increase these earning-s. NO MORTGAGE or lien of the Corporation or its subsidiaries, except purchase pur-chase money mortgages, may be created without the consent of 75 per cent of this issue. ANNUAL SINKING FUND PAYMENTS (which are cumulative) rangin-from rangin-from 10 tier cent on the first $3,000,000 of net eaming-s (after dividends on this stock) to 3 per cent on the excess over $6,000,000 are called for by the Corporation's Amended Certificate of Incorporation. The Price, S1C0 per share and accrued dividends When, as, and if issued and received by us. Application will be made in due course to list this stock on the Xew York Stock Esciin;s Ail les.l matters will be subject to the approval of Messrs. Kusimore, Eisbee & Stem cf XeT Y::S HAROLD R. SMOOT COMPANY Stocks. Bonds and Loan Securities. HOTEL UTAH BUILDING. Phone Wasatch 4G1S. Salt Lae Cy. This information ar.d thoe statistics are not ruarsiiteed. but have b c c u e b a m e d from t o ur c t s we b o b e t e to be a c curs t o ll.i-o'd R S-rop' i.. Hotel I t. ill. 0:y. ! GcrUleiro:! : ! H;iv.:ic f.'.od an nri 1 : "a t L-n with SVOlT.riv: S COTT:SSIO" for a ionse to p?.! t s-r:: M"il!s iMrt'rai.ot :.; A '. n p.-.i rir c K" it-.e o":im:s ?i"".i after a prei:nv.r:;ir exarr.ira;io:i of vu- s:r ."!-t ."!-t ion T ;i t t i.o Mvutri : s t. be ci ej are iH't of a ; rsy i;p.f.i:r or frirjilu'.ert nAturf, you v:t"-v mit'iori.-i'd proi-n.i ) iVe of suoh seo;ir-.:ws pera;-.c f'.r.a'. aoi:on on j our &rpi:;'.:o. t-t;;- to tVe i"'!'.'" ii't: -oriu:oi.?. whioli nivt be ruSutcJ to strictly: It niiiM 1. liiMiv-i'.y i:miorstoo-i lV.at this pern-is s:on is icirn-y s: d Tvay bp revoked at !'"' a-.ci tl-a: it vol nrp'j" ;ipri"o.il l t'r.c o :n i o:i ti:e seotiritjcj to be solft. rer-.:'- to v li.vii tiie sr.--,: r; i.-s s.J u-.'.rr ih is "v-rrv.it rvjf be rr,sde o'ear'v scu.iir'.ei I th..i i lie p-rnu. i : c ni! ,ry. tl-..t the sour:ty is bi'ir.g ir: vest :a;od by tb.o corinr.isi.-n sr.d 'J-i: ;tppro :t I i. 'l tii' s,'i!i iiy h.is been ; wn vr impi :el. " (, Your aitentien - tiireot.d to the l.nv w:-,u-i rskes It a te'.v.y to rvirerresent t.e va!i:e of sry i xy by vi.ti, written or printed t .ti eiv.ent s. directly or ird.reet 1 . ' re-ir.iiou to ndertie oir securities is piven only on oor.i:tion that ar.v Rdvcrt'.sf tv.etii v-5t c.-rts" j nn e:u t i-opy of tliis kttcr in t po of a si o not ie s than th.it pencrahy used in th? Ef"S ov-- c- j new .vp.iper;.. J This u-irir.ry permit is rooo;iKe at any time without prc ious notice. Yours truly. ; The Famous Twin Falls All steel Sage Brush Grubber fJTT5-'-" W'Tm M;nuif;icturcd by Krengel Machine Co., TWIN FALLS, IDAHO. 1 mE mi wmB i for work in the C.unotitc mines in the Piiradox V.;''c. 3 end of Montrose County, sixty miles from rai'rosJ I Placervillc. Colorado. Elevation mines. 6000 ffft ;J dry, shallow tunnels and good working places- A'r -: M All miners underground except ore sorters. ! 75 Miners and iM Men Waald J We will refund train fare and auto transportation t1 1 if men work 1G w eeks or more. Men must Vc fiHe tl!-. J good j-ofercnecs. Mines now working- COO men. ( j a If group of ten or more men want work, wire or F' ' ; 3 our expense. Wages to miners. ?-5.00 to $0.00 per S hour shifts. I Muckers, $4.00: Ore Sorters, $4.50: Timt-enucn. V t ihinc Helpers, $4.50; Machine Men. $0.00. 3 Mill men, minimum wage. $4.00 for S hour shifts. I $1.00 Tcr Day Charged for Board , Cj Only a limited number of macl'ine men w ; 1:1 J M Families should not come m as thcro mo no J" N ho had. ' Standard Chemical Compj J NATURITA, COLO. ' i BONDS ! 1,.' .., . r I It '.. 'il 'l-i ti- '11;.,. ;y j . ; . -I ! . .,t 'I inov.,i-nt. W . 1i;,m, ,r-.T l-'l t'-t: - -' - t I.-I..I It, t'o. 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