Evening Star Newspaper, April 6, 1921, Page 25

SUPPLY OF MONEY - IS INCREASING Local Bankers Maintain Rates—Commercial Paper { 71-2to 7 3-4 Per Cent. BY L A. FLEMING. Money on Wall street today came down to 5% per cent, within hailing distance of the open market rate, 4% to § per oent. Local bankers have been complain- ing considerably during the last week of the inability to use the call loan market to good advantage for their surplus funds and were therefore forced to use acceptances at 5% and 6 per cent, investments, while high grade, not as easily realized on When cash is needed as call money on Wall street. In the survey of the Fidelity and Deposit Company, given such gener- ous circulation in the morning pa- pers of last Monday, the District of Columbia was grouped with the South -Atlantic States, and the reports in- dicated that money was not in ample supply even at high rates. While that may be true with the Carolinas, Georgia and Florida and in some sections of Virginia, there has been no shortage in this sec- tion. Money is abundant, deposits are increasing daily and some of the more important institu- tions report the largest deposits of their careers. The people here have been ec nomical’ and saving has been som: what stimulated by uncertainti connected with continuity of em: ployment. The money Is here—more than bankers can use to advantage, un- less they are willing to reduce rates, something that they do not favo: in view of uncertainties which still prevail and which prevent anything “more than a slight relaxation. { Bankers and business men gener- ally hope that the signs of the times, as Interpreted this morning by the controller of the currency and by other business observers, may not be too optomistic. 1f the Federal Reserve Board will Jead the way, bankers will probably follow with a reduction in rates. The government withdrew about $36.000,000 from banks yesterday, but 1t had no effect on money rate: ymercial paper in the open'mar- kot still brings 7% and 7% per cent, and this fact may have influenced the maintenance of the reserve banks’ rates. 1 Working for Savings Accounts. The numerous employes of the American Security and Trust Com- pany have been started on an ‘ex- tensive drive” for 2500 mew savines accounts. Teams have been orga ized. captains appointed and a real campaign inaugurated. It works well, too. savings It's Col Wade H. Cooper Now. When meet_him now, salute and address him as Col. Wade H.«Cooper. The president of the Union Savings and the United States Savings banks ‘was honored by sppointment on the staff of Gov. Taylor of Tennessee. H admits that he would rather be “Kentucky colonel.” and that will _require the of a Phila- delphia attorney to pass upon the value of his title as compared with that of some of “colonels” manu- factured during the war. Col R. N. , Harper's exclusiveness has depsrted. Dividend Patd. Shareholders of the United States Savings Bank have received their checks for the current quarterly dividend, 3 per cent. Leeal Securities. Capital Traction 5 per cent bonds were_active on today's session of xcha 87 to 8T A merger between the two fiscal institutions l: ;lld to ?: o‘no of the possibilifes of the next ten days. Ne- on, but have not reach- e closure stage. Wall Street Notes. Great Western reports a deficit for 1920 of $2.530,682. Mexican Petroleum earned $6,150,- 000 gross in February. Gold imports from January 1 to date total $150,000,000. Im 1920 General Motors earned §1.58 a share on the common stock. American Piano sales for the year 1920 showed a gross of $10,441.000, as compared with $7,215,000, in 1919. April 18 is the date for the annual meeting of the United States Steel ‘Corporation. U. S. CONSUL BARELY ESCAPES BRITISH SHOTS Soldiers Ordered to Aim When He Fails to Hear Challenge on Motor Trip to Cork. By the Assactated Press. CORK, April 6.—Mason Mitchell, . United States consul in Queenstown, marrowly escaped being shot a few days ego, while motoring from Queenstown to Cork, it was learned here today. Mr. Mitchell was riding with Ben- jamin Harrigan, an official of Ford works. Both men are a group of soldiers in the street they falled to hear the challenge to halit. The officer in charge ordered the men to take alm and was about to give the word to fire on the car when Manager Pelly of the Hi- oot! That is the Amer- iean cons The officer immediately ordered his men to lower their rifies. . .F. A. EMERY QUITS POST. Resigns as Foreign Intelligence Chief at State Department. Fred A. Emery, formerly attached to the local office of the Associated Presa, today tendered his resi . as chief of the division of rornf::"::’-‘ ) telligence, State Department. He has filled that important office for the past two and one-half years. In ac- cepting his resignation. the Secretary of States expressed his appreciation of his services. Mr. Emery thanked the newspaper men at the State, War and Navy bufiding for their oco-operation and assistance in the prompt dissemina- tion of authentic information regard ing the foreign affairs of the govern. ment. Thomas Quinn Beesley, formerly Mr. Emery’s assistant, has been placed in charge of the division of foreign i #0 that there will be no in- terruption in its working efliciency. Mr. Beesley was formerly attached to the local bureau of the Red Cross. RE-ELECTS ITS DIRECTORS. SHARON, Pa, April 6—Proxies representing the five controliing stoekholders in the Savage Arms Co: lected last year’s NEW YORK STOCK EXCHANGE. Adv Ramley, . Alaska Gold. Alaska Juno Allied Chemical, Allis Chalmers. Am Agr Chem A ° & Am Hide & Lea pf. &% Tce Am Internationgl. 43 saneyly S3krsesaee e psnn: Am Locomotive. Am Bafety Rasor.. Am Ship & Com... Am Smelting...... 7% Am Smelting pf... Am Smit Sec A 3 Am Steel Fdy. Am Sugar. Am Sugar pf Am Sumatra. Am Tel & Teleg - Am Tobacco. Am Tobacco (B) Am Tobacco pf (n) %0 Am Writing Pr pf. Anaconda. Atlantic Fruit Cs Atlantic Gulf. Atlantic Ref pf. Baldwin Loco. Balto & Ohlo Barnesdall (B). Beth Motors. Beth Steel (B) Beth Steel 8% pf Bklyn Rapid Tra.. Booth Fisherles... % Brunswick Term. . Butte Copper. % Butte & Superior.. 11 Butterick. . Caddo Ofl. . 1% California Petrol.. 44 ‘alifornia Pet pf.. 4 Canadian Pacific. . l:“ igi"“i\fii";i“;}“i Chi & Northwn. Chi & Northwn ChiRI&PO%DL.. 60% Chile Copper. » Chino Copper. Ci t Peabody . 1% Cluett Peabody pf. 8 Play Famous players pf 8 Fiak Rubber. Maxwell Motors. ... Maxwell 1st pf. Pennsylvania. abd Steel.. Phila Company Phillips Petroleum Remington TYPF. Rep Iron & Steel Rep Iron & St pt.. Rep Motor Truck. . Royal Dutch 8t Louis Southwn. Santa Cecilia Saxon Motors. Seaboard AL pf... £ears Roebuck. Beneca Copper. Shattuck-Arisons. Shell Trad & Traa. d | Sinclsir Oll.. . 8lose-Bhe! B & YT L S PLLE S SLEL ¥ L S S FH B R L FHTHE PR S U LFEL THUE U T P TP T PSR MTE IR T P TR ALY (3 ¥ §3epyvy-zlnguasysguegesagoygerscorytonag g sgrpgavE.ragy L H mazaggs # A L L §23395207000125533995-5 j52asiagy-gye s & P b H T D U VT B e et { i Pt L L 1 1 it £ F Pt TG Y § I i 8o Porto Rico Sug. 1 Southern Pacifle.. Wk Stand Ol NJ pt. lewart-Warner. Stromberg Carb, Studebaker, CEFTEETTEPH UL ED CHPEEYEECELL U TE U s ES s F 1 & Tol St L & Westn Trans Cont1 Oil. Twin City R Tras Union Ofl. . i-5 i-3 $§385-3 oo W% United Alloy Steel. 30% United Retall Stre. 49 U 8 Cast Ir Pipe. » UBCastIronpf... ¢ 1 8 Food Prod, ” U B Indus Alcohol. 66 Ti% U 8 Rubber 18t pf. 101% USSmelt & Ref... 2% 81% Western Md. Western Union.... Westhouse B & M. White Motor. White Ofl. Willys-Or Willys-Ovld pf. ‘Woolworth. Worthington Pm; Call Money..... HOURLY SALES OF STOCKS. EREEEEREERN N L: Sunnunmwoobibne LOWER RATES ARE AID TOMARKET Call Money 5 1-2 Per Cent. Improvement Chiefly in Certain Industrials. NEW YORK. April 6.—The main de. velopments bearing upon the finan- cial markets today were a further lowering of local money rates, some- what more reassuring news regarding the British labor disorders, and the passing altogether of the Midvale steel dividend. The renewal charged onm call funds was sgain reduced, this time from 6 to 6% per cent. No rate as low as this has been seen since the early autumn of 1919, just previous to the first marking up of federal reserve d.fnounu. ;hla was the sigoal for e start the great decll: stock market. oL iooe What was still more significant, of- ferings of time money %o incremsed that it was possible for borrowers to cession, however, the demand was very light, thus nut-ctln: the judg- mone; i . were nataral for the reflection of opinion in Midvale St = lo Bteel bc?.n -m'“ the Steel Corporat lnn“p‘r‘ll:: two months ago it was everywhere pointed out that this would mean the taking of business at a loss. It v rd“n;u:?mtom accordingly that the i mreeu :mlhould have an- ed at a deficit months of the i pany had oj B during the n..!'!‘-‘. year, and that re Lackawan: the Midvale price cutting went back to | Sothionem, .“u‘lo.l;‘mr scale. plants, and ope: ing as it now is at 35 per cent, in quite a aif- ferent position. With Republic Steel the resumption of operation at num- : ‘ullgllau this week suggests that he &1 I:w'on in its case is getting Shorts Cover Freely. As anticipated on the th, market being in a nlrr::lqt::flll:: sition, & further burst of short cov- -rlnf in the first hour or so of the :nd!:l‘lhll' morning brought prices qn‘l l:!b.?l:l ".'dl:ll::‘ profit-taking in udebaker came v - ing its high for lhlr’y-::,lrln “’L strength influenced sympathetic buy- ing in Chandl Plerce Arrow and the (“.r:u:l‘bckl. y iof't#"‘ was still read; e the regular dividend to::el:rro"‘vl.“ 9 shares were acti bought, with spe- clal strength in Pacific Oil and Call- fornia Petroleum, and a sharp run up in the Mexican imsues, in which the short interest had recenty been siderably increased. smelti upward r advance was preparing for the rise in nnt:l"p‘r:luml' l-ohrltahlfil.l.:lml it cartn:n to come be- ety el G ‘M t of the shut- MONEY AND EXCHANGE. NEW YORK, April 6.—] - cantile Dpa; hoes THRTH Pfl-‘x“ ang: Grain, Produce and Live Stock| 7o pear estate norss | GRAIN AND PROVISIONS. BALTIMORE, April 6 (8pecial). Potatoes—White, No. 1. per cwt., 9 1.10; cobblers, 21.10; McCormick 80830; No. 2, 40a50; sweets, per barrel, 4.00a6.00; yams, 3.50a4.50; No. 2 and culls, 2.503.00. Beans, green, pearl and wax, per hamper, 2.50a3.50. Beets, per bunch, 4as. Asparagus, per dozen, 3.00a5.50. Cabbage, per hamper, 1.00 a1.25. Cucumbers, per box, 3.50a5.00. Celery, per crate, 2.7623.00. Eggplant, per crate, 4.00a5.00. Kale, per bushel, 15a20. Lettuce, per basket, 2.50a3.75. Onions, per cwt., 76a100. 'Peas, per basket, 3.00a3.50. Peppers. per crate. 3.50a5.00. Radishes, per baski 1.50 per crate, Spinach, per bushel, 50a60. per bunch. 3ad. Apples—Per barrel, box, 1.50a3.50: loose, D 1.50. Grapefruit, per nges, per box, berries, per quart, 30a60. Selling Prices at Noom. 4 g{:en;‘—‘\"o.MZ red winter, =pot. .60%; No. winter, garlicky, spot, 1.41%; April, 1.41%; May, 1.43%. Sales—None. A Corn—Cob. new yellow, 3.50 per barrel, in cargoes; contract corn. spot, 63%: April. 68%: track corn, yellow, No. 3 or better. 72. Rye—Bag lots of nearby rye, as to quality, 1.40a1.50 per bushel western export, - spot, 1.56% bushel. Hay—No. 1 timothy. nominal; stand- ard timothy, 23.00a23.50; No. 2 tim- othy, 22.00a22.50; No. 3 timothy. 14.50a No. 1 light clover mixed. 20.00a No. 2 licht clover mixed. 16.00a No. 1 clover mixed. 18.00a19.00; No. 2 clover mixed, 14.00217.00: No. 3, 11.00a13.00: No. 1 clover.15.00216.00; No. 2 clover, 12.00a13.00: No. 3, 10.00a 11.50; samnle.hay. 10.00a14.00. Straw—No. 1. nominal: No. 2 straight rve, nominal: No. 1 tangled rye. 17.00; No. 2 tangled rye. 16.00: No. 1 wheat. 13.00213.50- No. 2 wheat. 12.0021250: No. 1 oat. nominal, 18.00218.50; No. oat. 16.00a17.00. CHICAGO, April 6—New low price records for the season were reached today by breadstuffs. July delivery of wheat and both May and July de- livery of rye went under any pre- vious d]o'nl:_llrni‘ Bearish views of the economic outlook, especially as effeot. ed by the British coal strike devel- opments, had a depressing influence. Word, however, that further confer- ences had been agreed to by the work- ers tended to rally the market later. Opening prices, which varied from 1% decline to 3% advance, with May, 1.35 to 1.36 and July, 1.09% to 1.11%, ‘were followed by losses all round, and then by a reaction to aboyt yester- day’'s finish. Corn reflected the changes in the ‘wheat market. After opening % to % lower, includipg May, 59% to 591%, the market ubderwent an additional #2g, and then recovered. were easier with other ce- starting % to 3% down; July, 38% to 38%, and declined a little more before beginning to react. ‘Weakness in the hog market led to a setback In provisions. Open. Hizh. 135 ° 137% 134 1003 112 100! 5% . 59 &% = St @Y £ E ] COTTON MARKETS. NEW YORK, April 6.—Weakness in Liverpool and increased nervousness over the British labor situation led to an opening decline of 15 to 26 points In the cotton market here to- day. There was commission house, southern and Livérpool selling on the decline, which carried May contracts off to 11.49 and July to 11.96, or 20 to 37 points below last ni 1 G The market then Itew‘d; oi; mfl- €. - % Futures opened easy; May, 11.50; July, 13.05; October, 13. Degember, 12.88; January, 13.00. LIVERPOOL, April sood prices stead: fully middling, middling, low middlin 01; good ordinary, 418 ordinary 4.01 'Sales, 2,000 bales, including 2.1 America; Receipts, 200 bales, all American. Futures closed barely steady; April, 7.3 17.36; July, 7.56; October, 7.77 17.85; January, 7.88; March, 7.94. . NEW ORLEANS, April 6.—The un- favorable labor news from England caused a lower opening in the cot- ton market here today, but, after declines of 16 to 26 points had been made, there was a fairly strong rally and at the end of the first half hour of business the trading months were only 9 to 11 points under the close of ‘yesterday. May traded down to- 11.09 and reacted to 11.23. Realizing by and new buying for ‘long account fllfllll::d.‘tl\:ademun::. St Futures open: e » 11.10; July, 11.56; October, 12.08; December, 13.33; January, 13.46. per Tow. Close, 1.38 112 6.—Spot -qufet middling, $.36 bulls | the streets of the cf 5.2606.00; veal es, feeders about steady; vealers to pack- ers largely at 7.00a8.00; bulk stock- ers and feeders, 6.60a7.75. Hogs—Receipts, 16,000 s ing steady to 10 lower; later mostl. sieady to strong, with yesterday’ top, 10.20; bulk, 200 pounds 90a10.15; bulk 220 pounds up, $.8529.60; pigs mostly steady; bulk: desirable pigs, 10.00a10.15. Sheep—Receipts, 17,000 head; open- ing sicudy on wll grades and s early top wooled lambs, 9.50; some held higher; bulk fat lambs, 8.2529.00; choice light ewes, 6.75. —— DAIRY MARKET. BALTIMORE, April 6 (Special).— Young ohickens, alive, per pound, 30a 45; old, 3%a35; old roosters, 20; springers, ose and one-half pounds and over, 70a28; winter, two and one- belf pounds and under, 50a55; ducks, per pound, 30a38; turkeys, per pound, 35a50; pigeons, per pair, 50a55; guinea 60a86. Eg by, per fancy, per pound, nearby creamery, prints, 20a25; rolls, per lad 261 process tore packed, 17a18. NE YORK, April 6.—Butter—Un- ttied; receipts, 9,608 tubs; creamery, ‘her than extras 50a80%; cream- ery, extras (92 score), 49%. % ; firsts (88 to 91 scores). 4534a49; packing stock, current make, No. 3, 21, Irregula receipts, 52,961 fresh gathered, extra firsts, firsts, 26 tat 48a49; dairy 135822 293230 ;.':'.‘.',‘unu bro ; receipts, 3. state, whole milk, fiats, held, i e -mnfi run, state, whole milk, fiats, clals, 24a34%; do., aversge run, 23%. —_— MIDVALE PASSES DIVIDEND. NEW YORK. April 6.—The Midvale Steel and Ordnance Company today the quarterly dividend of 50 ; cents & share due at this time. Poor mand, 7.4 os, Guilders, demand, 34.50; cab Lire, demand, 4.37; demand, 1.6 and time loans stesdy; 60-da; month, 6%a7 per cent. earnings were given as the reason. .| MADE PRESIDENTIAL OFFICES ‘Westover and six other Maryland had their post offices presid grade, to aanouncement by the Post ce De; ent. _The othe: towns are ‘ordova, Friendsville, ‘,‘{:fl:}"‘“ Marydel, Stockton and 2 | per sack, 1 LOCAL WHOLESALE MARKET. Egrs—Strictly: fresh, per dos. 24; southern, 23. fos. per.Th, A1 povltry—Roosters. . 310 turkeys, perr, 1b., 45a63; chickens, spring, per Ib., 80a90; he per Ib., keats,” younz. each, 60a73; chicken Der 1b., 50260. Silled hens, ed poultry — Fresh chickens, per Ib., 90a1.00; 38; roosters, per ib., 25; turkeys, per, 1b.. 50a58; chickens, winter per ib.. 7 Pork—Dressed, small, per 1b., 15a16; foedium, 13a14; heavy, 20013 live hogs. all. Live stock—Calves, choice, per Ib., 11; lambs, choice, per Ib., 18a20. Green fruits — Apples, per bbl., 3.00a $.00; per basket. i5a200: wentern, per box, 3.50a4.50. box, 3.5024.50. California oranges, per 4.0025.00. Fiorida oranges, per e X Grapefruit, pe 4.005.00, egetables—Pr.tatoes. nearby, No. 1, 00; northern, per sack, 5 .00, Celery, per -25; Florida celery, 3.00a3.50. Romaine lettuce, 1.25a2.50. ~Cymbli per crate, Florida,. 4.00a6.00. ~Spinac] per bbl, 2.00a2.50, Kale, 75a1 bbl. Peppers, per bask Tomatoes, per box, 4.00a5. 1.45. ' ‘Texas onions, 3.00a .25. Brussels sprouts, per qt., 15aZ5. Cranberries, 2.0025.00 per bbl. New cab- bage, per crate, 2.00a2.75. Eggplant, per crate, 3.50a5.00. BOND LIST FIRM: SOME NEW HIGHS NEW YORK, April 6.—Westinghouse Electric 78 sold at par for the first time since their issue. These and the Telephone bonds have been among the best bought recently. American Telephone and Telegraph Collateral 58 were up another half point to 83, which was a new high for them. Cerro de Pasco 8s, helped by the re- ! covery in copper stocks, gained & half point to 105%. This was a new record, and S0 Was 86% for U. S. Realty and Improvement 5s. Standard Oil of California 78 gained a half point at 102. Chile Cop~ per 6s, moving with the stocks, got up 'm 70%, as against a low of 70 yester- day morning. Cuban American Bugar 8s were heavily dealt in at 101, and the Cuba Cane Sugar convertible” 7s were a shade higher at 84%. Duquesne Light 6s made a new high at 91. | There was very little feature to the ]!rudlns in government bond. ‘With the exception of the Japanese group, the Belgians were the only foreign loans in which there was any activity at all. Both the 7%s at 97 and the 8s at 97% were substantially unchang French government 8 changed han at 98%. Norway 8s were steady at 99%. In the liberty bond group the chief incident was a sharp rise in the third 4%s, which got up about 50 cents. The rise in the second and fourth loans was not as marked. Pennsylvania 6%s made a new low at 95%. On the other hand, the gen- :rl!nz 4%s Tecovered a point ) : INVERTED GAS MANTLE CLASSED AS SUPERIOR |New Type for Street Lighting, Re- cently Given Try-Out, May Be Adoptsa By City. - The new Inverted gas mantle, which ‘was given a try out in the street 1amps on K striet between 1ith and 13th - streets’ northwest last night, may be installed in all of the city's &a3 lamps in Washington, it was in- dicated today. The representative of the American Street Lighting Company, which has the contract for the upkeep of the ~|8as lamps in the District, is out of the city today, but it is understood he has made several propositions for improving the gas street lights of Washington to Warren B. Hadley, who supervises street lighting for the District. Mr. Hadley witnessed the demon- stration of “the new mantles last night, and while not prepared to re- port formally on the results, voiced the opinion today that they are a de- cided improvement over the gas lamps now used generally. If the new mantle meets with the approval of the Commissioners it may be installed in all of the ap- proximately 12,000 gas lamps This, it is believed, would greatly increase the amount of {llumination and serve : preventive of crime and acci- A majority of the citizens’ associa- tions, co-operating with The Btar, have in the past few weeks voiced the need for more {llumination on ty. In the demonstration on K_street the company is using two of the new inverted mantles in each lamp. It he new system is adopted for the whole city, however, it is probable that one inverted mantle would be used between blocks, with double mantles on all corner light A new type of ornamental globe also is being given a try-out in the K street demonstration. TAKES OFFICIAL OATH TODAY. Mrs. Howard L. Hodgkins, r arnointed & member of the bonra f| education by justices of the District Su- preme Court, to succeed Mrs. Spaulding Gerry, will take the oath of! office at 8 meeting of the school board at the Franklin School this afternoon 4 o'clock. She will be sworn in by Harry O. Hine, secretary of the board. INSURANCE BUSINESS cash. for Room 202. 1338 New York ave. $5,000 Life Policy, $57.35 Ao 40 Bend date of birth “for ilustration M e, Tib Weetward l{:.li-ml'-.. i Money to Loan‘ Becured w;nzlm‘;?‘;x: :..1 !mu ‘Wi euh. Joseph I. Weller 2 Wish. L & Tront HENSEY CO. 727 Fifteenth Street N.W. ‘Weshington, D. C. THE NATION’S BOMB TOWN. alifornia lemons, per |- Couservative Valuations GLOVER & FLATHER 737 15th St. N.W. JTIZENS SAVINGS BANK Commercial Accounts Safe Deposit Boxes Monthiy State- ment Service Y. Ave. “t EdgeY’ . 1% First Mortgage Notes Now on Hand In Amounts of $250 Up to $5,000 Now is the time to invest, but only in securities that are abso- lutely safe. Don’t take chances ?nd speculate with your sav- ngs. ‘We look after all detalls and furnish guaranteed titles with all notes. Chas. D. Sager 923 15th St. N.W. ENTS Loan Dept., M. 36 We specialize in property manage- ment. Real Service Pays and Costs No R: B. F. Saul Co. 934 New York Ave. NW. Combised Fire, Theft and Liability. JOUGHT AND SOLD FOR CASH WM. B KRAFT & 'CO. 1336 N. Y. ave. Main 888 i The Connéclicut Mutual Life Insurance Co. Has returned to its policy holders more money than it has received from them in premiums, really a unique record. 41st YEAR COMPLETED Assetn . e Resolve to Join the Egquitable and ‘Save Sys- tematically. :|'"f :':- adopt |hl\.I\lllb'f -“l‘“’= the results ebtained. Suhacriptions for the 80th Issue of Stock Being Recelved Shares, $2.50 Per Month 4 Per Cemt Imterest EQUITABLE BUILDING, 915 F St. N.W. JOHN JOY EDSON. Presideat FRANK P. REESIDE. Seey. Some 380 or more Univer- sities and Colleges now offer a course in Life Insurance. The most practical course of all is offered by this company. For information E. D. Sampson, General Agent, 1125 Woodward Building, ‘Washington, D. C. ON SAVING Read the life story of every successful man—Carnegie, Woolworth, Frick, Swift, Schwab and the host of others —and you will find that con- scientious savings in early youth played a’great part in it. It was this saving that pro- vided the means with which to grasp Opportunity when she presented herself. Our First Mortgage Notes are a good form of saving. Their rate of interest is sufficiently high to make them interesting, but above all they are safe. ALLAN E. WALKER & CO., INC. Real Estate and Imsuramee Brokers 813 15th Street N.W. Southern Building see SURARRANAARAENAR, W‘!»#M»‘{#fl #fi##’_fi-*?%*flm#*"m Northern Pacific-Great Northern (Joint) C. B. & Q. Coll Tr. 4%, July, 1921 The Northern Pacific & Great Northern have applied to the Interstate Commerce Commission for authority. to provide for the above bonds by issuing the follow- ing: 5 $230,000,000 NORTHERN PACIFIC-GREAT NORTHERN (Joint) 15-Year, Collateral, Convertible 63§ % Dated July 1, 1921. Due July 1, 1936. First National Bank, New Yerk, Trustes Callable as a whole or in blo *s of $5,000,000 at 103, on 75 days’ notice. Convertible into Bonds of either Great Northern or Northern Pacific ¥ To be secured by: 1. 1,658,674 shares Chicage, Burlington & Quincy 2. $33,000,000 par value Northern Pacific Ref. & lmp. 6%. 3. $33,000,000 par valse Great Northern Geal. 7% Series A. Indications are to the effect that authority will be given to issue bonds as above. We recommend to tolders of the old bonds to carry them to maturity, as the new bonds seem so attractive that the right to exchange, which will probably be given, :%suid be ' ReimsndaCe A COMRINATION OF FRAZIER & CO. AND REDMOND & Cu., 927 Fifteenth Street N. W. ‘Washington, D. C. Phones: Main’ 7074-5-6-7-8 New York J4X REFUND IN PENNSYLVANIA T4X EXEMPT IN MaSSACHUSETTS $3,000,000 New England Oil Refining Company First Mortgage 8% Sinking Fund Gold Bonds Dutad Merch 1. 1921, Due Murch 3, 1oat. R ‘aach year of uneapi New York ‘withe deduction 8300 2nd 3100 coupta boads ik peiviese $2,000,000 restrictions, except that $1,000,000 thereof pledged mtbmh!fifihuuuw::nfl. s ams of the most lmporiant besic industries to be asd interest plus & k' Redeemable on any intersst date st ‘Semi-annual interest, March 1 any normai Pedersl Iacome Tax not of registration as to principal. The = acquired, which is as estate in bonds may be issued under conservative the United States Govern- Fund, com- in New England in meng estoblished @nd is bedieved 1o be a vital factor in insaring an adequate sepply of fuel to the industrics of this section. ASSETS. to this According to the audit of Messrs. Price, - than FL500000 Waterhouse & amounts to $10,803,377, er over 3, for the first full T e 45315000 o T 30 o 80% of the of the re- Government, the guaranteed as to principal, interest Oil Corporation which owns the common stock zwmmmhmmubmd We recommend these bonds for investment and shall be pleased to send upon request circular F-300 describing the issue in detail. Price 98 and accrued interest, to yield 8.309, - E. H. ROLLINS & SONS 416 Woodward Bldg., 15th and H Streets, Washington Telephone—Frankiin 3463