Evening Star Newspaper, April 23, 1921, Page 17

’&{G»————d% FINANCIAL. THE EVENING STAR, WASHINGTON., D. C, SATURDAY., APRIL 23. 1921—PART 2. . FINANCIAL. | : L 2 - R ER AT T T0STOOKMARKET rman g0 rman go Krupp 4x. Bad. Aniline $15 AL El Ges. 4izs 18 einger Bank % TIZENS SAYINGS BANK Open. High. Low. Close. Open. High. 3% u"!‘fi 83% 4% | Stromberg Carb... so% 3% DM % % 17% | Studebaker. Adv Rumley. g6 36 5% % Ajax Rubber. Darmstadt 4s.... Nord. L. Bank 4s 161, % 2% Drexden 4+ Prenss Rank 4s.. 162 Allled Chemical. . 8% 8% I"rvwh-n s Juesselda % 20! % e |TeaanaPCaOn. $o% | Tide Water OIl. % x| Tobacco Prod. Essen 4 |Some Recessions on Profit- | Ernktort & Hambury Safe Deposit Boxes 7e 4% | Trans Cont1 Ol ing —RaAi | Hamburg 3 £ Y|SB B WakngiEly—gals - |2 oenihy B 2% M| ni'ad Alioy Steel. 81 31 Move Up Sharply. 1336 N. V. Ave.§ n: :;: ' nited Frult...... 106% 106% e .| CPited Ry Invpt.. 24 2% v United Rezansn-. oo s i lden nen.. BA% B8 F4% T6 v-:;-omn’ German gov. 3 German gov. 31 BY STUART P. WEST. NEW YORK. April 23.—After yes- terday’s sudden expansion in the PARIS BOURSE FIRM. Relgian Prem. 5s. 7214 Am International. a% &% @ 1‘:,‘,‘ 3 2 e . = hi Am La France. "y . volume o ck exchange usine: PARIS, April 23.—Prices were firm s = [Am Linseea. . o% trading today was considerably less |on the Bourse today. Three per cent EQU]TABLE New Combination Passenger Ships {rentes, 56 francs 70 centimes e=-| | CO-OPERATIVE BUILDING | | F ; {¢hange on London, 53 francs 901 cen: | ast, Luxurious Steamers R P ol s auoiod | ASSOCIATION LATEST PASSENGER SAILINGS active. Prices, at the same tin moved with a good deal more irre lar This was the normal course centime: [Am #afetv Razor.. §% The dollar Shi L N = R rum - o 5 of things, however, in a market so|lZfrancs 70 centimes | OrEantzed BINI9) [Am Smatting pf... Vanadium Corp... 30% 0% abruptly lifted from a rut. A lot of S 415t YEAR COMPLETED New York to L Vork to Kurope vin Roulosne and London. Ya-Car Chem. 0% 0% profit-takingz had to be absorbed. so Asset . B |:| T, S M".“m,"d SRl i o6 and Boulogoe. A: ivadou. ... &% that selling was increased by the cus- Surplus altimo , San Francisco to Ho Wabash. % tomary closing out of trading ac- 7% REAL BTATE NOTES Y. will A lish A . May Tth. i T T counts at the week end. 3 5 ou i ccomplis s to Orient vin olulu (Yokohama, [Am Sugar pf. Wabashpf A. 20% I sl 5 X rval niln, Hongkong). [Am Sumates. Western Md. 10 e ] s jentanuny, Conservative Valuations More Than Ever in Sav- 5 [Am Tel & Teleg. Western Md 1% s s Souz e s not only in, ] san Francisco_to East India via Honolulu (Manila, W u 3 P 1t decline, but deea g { Am Tobaceo. estern Pacific. Ed with a further advance in numerous Secmzed iy At Salzon Sinzancre,iColombo:CalRtIR). —by adopting the svstematic sasing S i New Via Dauziz, September th: via Rremen Plaa of the Equitable Ruilding Alaziine P Creole Stat, Westhouse E & M. 1% 47% Wolverine h [Am Wonlen. ts of the lis. Mexican Petroleum of trust on high-cl m Writing Per~ 'l Wheeling &LB... 8% 8% was the leader of the industrials properties. Responsll tion, a plan that has won financi 5 " naconda. .... % Wheeling & LEDf 16 16 under further urgent covering. Bald- makera. dependence for thonsands. York to Kast Coant South America via Rio de ssa Dry Goods. b White MOtOT. ..... 40% 0% win_Locomotive. American Linseed, | Subacriptions for the e AN O White Oil.... Pacific Oil, American Ice and Miami % 1% tehison. 2 : a . [Atlantie Cs 7 Wilson Company.. € 4 Copper were other industrials which GLOVER & FLATHER 80th Issue of Stock 3 ork to Boulogme. I York to antic Gulf. . s Willys-Overland.. 8% 8% stood out conspicuo The wnain RS NW i i —0! 8 : 3 S—old Xorty . cident of the day was s e Tece! 2 t . Gt N [At1antic Guit pf... 8% Willys-Ovid pf.... 34% e e incident of the day was 4 spurt in th St. N.wW. Europe to N 3 " Woolworth. Atlantic Petrolem.. 21% e Wor:hington which carried them 3 & i usquehanns n e ey S o o 6 M5 |up very snaroly a point to two points Shares, $2.50 Per Month anehina : all round. Th orkevin Rremen: New York (o ltaly vin Yaples and Genon. e Matodkns A1 3 nothing in the Nichols.... % ; we Svernighe to s 4 Per Cent Interest | . Anrit 30th. v Sl oy HOURLY SALES OF STOCKS. Hewsilovents count 1or this| LIBERTY BONDS | ope to New York vin London and Boulogne. 5 May 12th: from Naples : 12 ement. Baldwin Loco pf. . 101% EEaE - GOt o000 It simply reflected the growing con- | BOUGHT AND SOLD FOR UASH EQU‘TABLE BUILDING Cankangle N inic s S0 s Ralte & OhI0. . .... 4% fidence throughout sthe financial dis- | youC "Lake Liberal Loans on Them Y] New York to rarope vin Bremen and Dansts. New York to Italy via Naples and Genon. Rath Steel. & BIGGER COTTON ACREAGE |!rict that the carricrs have mude out| Liberty Bond Purchasing Co. 915 F S! N.W. i e i 1 i ieete re% a strofie case for wwage red | urn New York via Dan: ay 25th egnen. Now B e i enaa i ne tai - e s et -:; .fi::«-‘ oz s e e Mrljro r';]']lem';v:m’)r; 920 F S liW AT JORN JoY Prestdent [ New York to urope, via Boulogne and London. June 11th Klyn Rap Tr otfs. REQUIRED TO MEET NEEDS | hoira. ‘and that the authorities>o Mone to Loall FRANK T, REsioR. Seev. | | b pita New York (o ftaly vin Naples and Genoa. utte Copper. . ——————— Washington. who are anxious to bring y —— New York from Genoa, June 234; from Naples, about lowering of rat, Rutte & Superior.. e 3 = Will exert | Secured by First Deed of Trust on Real Estate ! Z Z P 8 th 2ddo ON. . ... American Commercial Attache at :m:l:‘ ‘l":)lll"rj::\{;‘lwn(;::\;_:;(\lv‘0 ages come Jo :"}:.‘Im‘\;ml'lm‘ and eomml-hn < i ‘[ Retus :'»; York via Danzig June 9th; via Dremen, \mk 55 ""l" ,%‘. ‘\.,“,,, and Genea. . . > e S eller Fas Juneah Montas, June 300k lifornia Peke London Comments on World's Railx Move Up. 2 Sl ¥k and I Eurone to New vork via London and Boutoguc. New York via Genoa, Juls 2Ist; via Naples, July 5 i Panhandle State, June 91k Capacity for Raw Production. creading, Northern Pacific. Great o I New s e Northern .lvrvée»i,rml.fl Norfolk and arriman 0. ! New ‘xlrk to Barope via Boulogne and London. 1y via Naple « acific, S i Cotton acreage of the world must | Western, T mom, August ith; via to New York via London and Boulogne, June 23d ments. Coincidentally there has been| CHICAGO, April . a marked decline in the output of|the Moder: manufacturered cotton stuffs, that, in | =)o " 3"::“’ nter wheat has turn, being a reflection of reduced paratively little progress in | buying power in the great cotton-|!he last week, although its general consuming centers of the world. condition is still favorable. Cold “With a return of the world to a|weather has retarded its growth and normal state of economy, buying will|set the crop back to about normal for | be resumed, idle and short-time looms | this time of the year. Some damage and spindles will be speeded up, and |to jointed wheat from freezing an insistent demand for raw material { Weather has been done, but it does | may be anticipated. Far-sighted rep- {NOt appear to be extensive. Com- | resentatives of the British cotton |Plaints of wheat fields turning color | trade are already agitating the ques- {2F¢ sufficiently numerous to be worthy L s mention. “The ground is full of tion of increasing the production Of | oigture in practiial n asi < ally all sections raw cotton within the empire. and warm, sunshiny weather is want “It seems established that the needled to promote growth, Low tempera. of the world for cotton goods within | tures hurt some early sown spring the near future will grow more rapid- | wheat in South Dakota and served to | Iy than will the extension of cotton- |impede sowing in North Dakota.” | growing areas. Increase in the supply T —— | of cotton depends very largely on the : Indiana has held the cente; | finding of fresh cotton territory and|population of the United States rgxt» improving the strains of existing the last thirty years. known cottons. Our ,First Mortgages, which embody all the virtues, stabilit. strength and earning capac of reliable, conservative inves ments, are the logical choice of those investors who de- mand complete protection of principal and punctual payment of interest. In Amounts of $230 and up. B.F.SAUL CO. Mortgage Loans 934N.Y. Ave. N.W. war with a production capacity of raw | i cotton considerably below its require- OUTLOOK FOR WHEAT. : A ccording; tD. D WRITE DIVISION OF OPERATIONS T CORPORATION, WASHINGTON, D« S OF FREIGHT SHIPS TO ALL PAR HIPPING BOARD EMERGENCY F FOR SAT TRAFFIC DEPART! ENT, U. i (Rl T ionUSt] cific and Chesapeake and Ohio had — undcrsfv @ very marked expansion in | jrgest gain among. the dividend- n;?t MEMBERS: ! vin Bremen and Danzig. the years to come if the supply of fing rails. Kansas City Southern, Rock Over a i L pasaig, s 26 iaorton Is 0 Xfep pace with thelisiand. Pere Marquette, New Haven New York Stock Exchan: il Neww i to Iurope, via I'hmla:ne and London. Paibenion Nimerican'Commercia] ttaghe at Lon | \na 1ot and Pacific were the most Querterdls Nises g N i C : cht after among the non-dividend ! 5 P e e S 1T, e opoRted iofthe Department ying low-priced issues. of a 111 Broadway, New York | Bremen and Danzig. sia Naples study of the world's capacity for e afom abfoad was undoubtedly ! A o L stadyiioticie R oelalsjcapacity the m r:“l(‘:\or«hle' for the chances of Ce.nfnry | ! a Dansis, Juls i via Bremen, Via Xapies and Genma _ A the present time, he said, there | 2 satisfactory scttlement of the Ger- Without (I New york to Furope via Boulogne and London. T ember is a record carry-over of raw cot-| % G luestion of any so I 6-01d North State, July v . Octaber 13th: via Napies, ton. Coupled with this, there is an| I m;‘""'nf;’;‘!m} very little reflec- a Loss. i Returs New! Torktvia Tiatlonana Bonlogue: July 2xth, October 15th. -ouns % e forei : e o nerDroducE | kcts oviin the forsion Sheoer, "’d"‘:d : i Key number before ship’s name indicates name and address of xteamship company in the following list: ters ‘of the world. There has also | (IS being the case. it could scarc Washington Office ! P 5 been a marked setback to the pur-|Pe held responsible for the s ! Operators Ol assenger er\m:es = mmathe of the market he monstra- i LORAD UL i — 2 e : chasing power of the world in the | of the market here. 'The '1:'11‘:#-.:"2{‘ Real Investing Co 0 BUILDING | 1—Admiral nne. New York and Forto Rico S 6—L. & Mall & & Co.. sponding setback to catton produc-|the buying movement in indus- | A 4 Telephome Matin 1603 1 tnte St.. New York City. Co. 3 3 way, New Yorl ty. tion. trials the late dealings and final Fhelimportanceiand necessity " | Matxon Navigation Co. 11 reaaway, New York Chy. Ward Line, £ - ate ¢ s 4 i = " S ess 2 i Co.. s o ; 7— z “It is obvious,” says Dennis. | prices were well up to the best ] R ST | 20 Market S(. San Francizee. 0% ',:'n““::'L:“n‘,_,_"{,“ s (New York and Cuba Mall S. “that the world has emerged from the vestment for the safeguardin ! tjSo; Gaz St Baltimore, Md. City. B oy ital c 5] | 3—Munwson Steamship Line, 621, Market*St., San Francisco, Foot of Wall -St., New York of your capital cannot be too e e e one =5 e strongly emphasized. ‘ 2 Beaver St., - . i i $30,000,000 The Goodyear Tire & Rubber Company First Mortgage 20-Year 8% Sinking Fund Gold Bonds Dated May 1, 1921 Due May 1, 1941 3 Total authorized, $30,000,000. Interest payable May 1 and November 1. Coupon bonds of $1,000, $500 and $100, | interchangeable, with provi: tration of principal. Principal and interest payable in New York and Cleveland. Redeemable whole, or in part for the sinking fund, on any interest date at 120 and interest. The e present Pennsylvania four-mill tax to holders resident in Pennsylvania who have > Washington Stock Exchange Tnion Trust Com:n‘nl}‘:—!i at 120, 10 at Mergenthaler Linotype—10 at 120, 5 at w' 90 ———a 52 Years Without Loss A perfect record from the investor’s stand- point has mared more than half a century- of dealings in our first mortgages. In this period the law of financial averages has taken its inevitable toll of practically every other form of investment. Only absolute soundness and sustained good judgment could thus meet the test of 52 years. vashington Hetiway prois at @2 hington Railwa: —15 a St ractions al i Witlingtoa Gas Light—3 at 42%. Bid and Asked Prices BONDS PUBLIC UTILITIES, A American Tel. and Telga. Application will be made in due course te list on the New York Stock Exchange. The Union Trust Company, Cleveland, Ohio, Trustee The Mortgage will provide for the Retirement of the Entire Issue at 120 and Interest, by drawing by lot $750,000 Bonds on each Interest Date, beginning November 1, 1921 ntl Truck 1st pf. nt] Truck 2d pf. i The following information is summarized in a letter from Mr. G. M. Stadelman, Vice-President of the Company: Anacostia and Potomac guar. 5s. Chesapeake and Potomac Tel. 5. Capital Traction K. R. City and Suburban 5 Metropolitan E. E. Potomac Electric Light 5 Potomac Electric cons. 5s. Security —These bonds, outstanding under a closed mortgage, will be specifically secured by first mortgage lien upon all the fixed assets of The Gcodyear Tire & Rubber Company, now owned and 2 hereafter acquired, together with pledge of stocks of subsidiary corporations. The mortgage is to provide that the company shall always maintain net current assets as defined, equal to at least 126% of the amount of these bonds outstanding. 1 Assers_The balance sheet of the Goodyear Tire & Rubber Company as prepared by Messrs. Price, Water- house & Company, as at February 28th, 1921, but after giving effect to present financial readjustments, to the losses from operation during the period from October 31st, 1920 to February 28th, 1921, and to ad- justments of inventories and provisions against possible losses on raw materials under contract, shows: i Net Property Account, less Depreciation . . $54,252,050 Net Tangible Asssts, Joss all Ressrves . o . 135344,153 NetCurrentiAsssts . . . . . . « « « « 63,139,808 Earnings—Net sales and net income of the company for the past five fiscal years, as cziiified by Messrs. Price, Waterhouse & Company have been as follows: Flscal Year ended October 311 10 Net Sales, after Allowances, Returns,etc. . . . . . . $183,866,024 $158,258,892 $122,675,726 $103,558,669 $59,122,281 Net income available for in- terest, Taxes and Inventorses - Adjustment . . . . . . °10,384,908 23,759,989 16,176,808 15,067,765 7,456,877 = . Washington Rwy. s Wash. Ewy. and SWARTZELL. | RHEEM % HENSEY' EY.Ca TWENTY VRN, MISCELLANEOUS. Riggs Realty Ss (short) Washington Market wlflil‘lfi_lfln Market 16 6 16w mw;sl';)CI(S FUBLIC griiaTims, American Tel. and Tel, Liggett & Myers. Liggett & Myers B Locomotive American . Columbia Comwercial The Largest Savings Department of Any Bank in Washington Open Saturday 5:30 P.M. to 8 P.M. Lincoln Said: o for all the b b'-‘:::; Jriviloges of the government, its for uxmltfin a1l whitas to the right of sufivege taxes or bear arms (by mo means excluding um‘-’l?i)"’ ) AN 18 .7 e Lincoln National Metropolitan . Riggs Sec TRUST CoMP, American_ Security Contivental Trust National Savings Union Trust .. Washington Loan and Trus SAYINGS BANKS. *At the close of the last fiscal year, October 31, 1920, $9,970,000 was written off net income shown above for the year, representing the difference between cost and market value of raw materials in inventory. { In the balance sheet referred to above a further provision is made, amounting to $32,850,000,s0 that crude rubber on hand and to be received under contracts will be carried at 20 cents per pound, and 1 fabric at present market value. :,'{:','::x:;: T B Wasblagton Stechusics’ The net income available for interest and taxes as shown above, after inventory adjustments, averaged pklahoma Prod. FINE IiSURANON. | $12,575,269 per annum for the five-year period. Annual interest on these First Mortgage Bonds amounts [ to $2,400,000. o lNlTlATlVE 'I§be company estimates that net income before interest and taxes for the 12 months to February 28, N e i T 1922 will be approximately $10,600,000. Columbia_Title “ 4 Initiative is the self-starter of the e = i mind. It gets you off in front with Management—During the life of these bonds, control of the management of the Company, ‘rgmm: fi;-_pngpvm; com.. 8 a brand new idea while the oth through the right to elect 8 majority of the Board of Directors, will be vested in Messrs. Clarence . Mg o P s € otier Dillon, of Dillon, Read & Co.; John Sherwin, Chairman of the Board of The Union Trust Com- Merchants: Transier and Storage 100 Mergenthaler Linotype Old “Duten Market com 01d Dutch Market ptd Laaston Monotype Becurity Storage fellow is cranking up his brain. It keeps you out of ruts and revels in smashing precedents. —Take the initiative and open a sav- ings account. 3 l’nterent 'O On Savings Accounts Commercial Accounts Monthly Statements Rendered Foreign Exchange At Lowest Rates pany, Cleveland, and Owen D. Young, Vice President of the General Electric Company, or their successors, either through Management Sfock or a Voting Trust. | W offer the above Bonds for delivery when, as and if issned and received by us, subject to the approval of legal procesdings by counsel. Px:ice 99 and Interest Redmond & Co A COMBINATION OF FRAZIER & CO. AND REDMOND & CO., 927 Fifteenth Street N.W. _ 3 : Washington, D. C. Phones: Main 7074-5-6-7-8 New York Baltimore Philadelphia 2 Pittsburgh i1 Co, Kentucky.. he Informativa eontained in this advertisement has been obtained from sources which we censider reliable. While net guaranteed. it 15 accepted by us s accurats. il Cs. Nebeasks, m Standard Of] Cn. Xew st ! . Btandard OHl Co. Oh, 00