Evening Star Newspaper, November 15, 1921, Page 29

« CATTLE PRICES LOWER; “HEAVY-RECEIPTS WEST | or CHICAGO, November 15.—An exces- sive supply of cattle swung prices to most of-the fair:to vofl steers closed at a loss of 35 to 50 cents, with the meral average price, $7.50, standing owest since 1916. " Price declines were due entirely to large receipts hers as well as at other points. The Chicago run totaled approximately 69,000, reprgsenting an increase 16,000 as compared with the preced- ing week's offering. b3 expected has failed to increase proportional —_— BALTIMORE LIVE STOCK. BALTIMORE, November 15.—All kinds of cattie declined here 50 cents er 100 pounds yesterday. Heavy Eflt-ht stock was in poor demand and Maryland cows were very unde- i} sirable. With a light supply t ket was dull on sheep and on lambe. There was a fair supply hogs, with-a much lower market, an a moderate supply of calves, with a {{f lower market. Quotations for the w“kutonon': ipts for week ended Cattle—Receip! or noon__yesterday were 3.939 head, Belgium 6’ External Gold Loan DUE JAN. 1, 1935 (Non-Convertible) These notes constitute an un- c;-rlil.ioml obligation of the i vernment, repay- -l:lleni?Nc‘: York City in dol- lars. Price yielding abous 7.60%, Circular upon Tequest for ML-431 The National City Company Washington—741 15th St. N.W. Telephone Main 3176 HOLD YOURS Do not part with them unless compelled to do so. BUY MORE Atpresentattractiveprices, thus reducing cost. Bosklet No. 210 gives taterest. ing and proftadle information. Write TODAY for your fres copy. ROSE & COMPANY Liberty Bond Specialists 50 Beoad Street, New York City “The Partial Payment House® Follow the Rails To Profit The rallroads are suffer- ing less from this period - of business inaétivity than any other industry.- They have already passed through their 100% defla- tion and are headed straight to recovery. ‘The best economists are agreed that the next era of advance in security pricea will find rallread issues in the lead. _ Write Dept. M for our November Market Lettor Smith, Lockhart& Co. ESTABLISHED 1911 Continental Bldg., Baltimore, Md. Members Baltimere Steck Exchange *Safety; Convenience, Profie® EQUITABLE Association Organtsed 1879 42ND YEAR COMPLETED s w.007.900.91 Those Who Save —and save regularly and sys- tematically are sure to obtain the best results in the end. Subscriptions for the 82d Issue of Stock Being Received Shares, $2.50 Per Month 4 Per Ceat Iatevest EQUITABLE BUILDING 915 F St. N.W. JOMN JOY EDION, President You Show Good Judgment When You Invest in FIRST MORTGAGES They give you freedom from worry and. annoyance and yield % In Denominations of $100 and Up Safety is unquestionable when placed by o Shannon & Luchs Main 2348 to medi .0024.75. . 2 lomer lovel aurin Fult ‘woek, | §%gnedium, 4.0024.75. " Bulls_—Choics, | tralo {n antlcipation of & po ended noon yesterday were 11,418 | showed gross of about $530,000, while g;:g.“lltfln:lgskxfil head last vesck. the first week of this month showed 5.25a8.75, een yes again: « 2 4.50013.7 il Pittsburgh Stock Exchange Columbus Stock Exchange Columbia National Bank | er { | S i omai, OILF Street Iui, | —in the SAVINGS DEPARTMENT of this bank. ' That’s the best way to divorce yourself f:om the FINANCIAL. W. M. TRAFFIC PALLS OFF." OHY0 OIL DIVIDEND. ey . : : Money to Loan BALTIMORE, November 15~—After| FINDLAY, Ohio, November 15—The ) . plcking up remarkably In the 188t Guig o1t Company has declared sn ex- r Connections locally and tn X B gy 2 K b K g falr to good, 5.00 Woak pf Octobet; d08-10/tha Fusiiof tra dividend of $1.76 per share, in ad- :fl:'n:‘h‘-'; I:-::l; :-'uricn: Bond m % 'MM If you have money to in- ‘Washington Real Estate En- X .75; fair to good, 3.25a4.00; com- dition to 'the regular quarterly divi- 4 mon to medtum: 5.00e3.60. Cowe—. | SU7ike, estimated gross earning: dend of $1.25 per share, payable De- torprises. vest we can safely place it on_ [3- Choioce, 4. : falr to good, 3.35m | Western Maryland fell back Into Do i1 hold ¢ retord s & Fi ax 3 gilt-edge first 'D. C. Mort- 1.00; on to medium, 1.50a3.50. | old rut in the first week of this|Cember 31 to stockholders of reto tone airf » Over a Ou Sheep and lambs—Recelpts for week | month, The last week in October | November 26, Ave, Matn 2424 gages. Our récord of 30 years A Dol i insures your protection. Cour- * Quarter of ||, %M: 204 nates sscamd 371| teous treatment. . . Lambs, 5.60a10. gnly 317,442 ‘This comparss. with Hogs—Receipts for week ended | $508,932, for the corresponding week || | » = a Cen Batate, - * roon, Festerday, were G Rea, | ot st yeur, oe lone Tn'inis vuihc | || Wee offer, subject to prior sale: 7 || "NamonaL morrasce ann || Percy H. Russell Co. edium, 8.20. Pigs, 8.50; roughs, :nn last _year. For the eri:d since Yield Without INVESTMENY CORPORATION. S. E. Cor. 15th & “K” Sta. Due Price About b a Loss. g No Discrimination The man of modest means can invest his capi- tal in small sums that will yield him the same inter- est rate as earned by the wealthier investot, with his greater resources. Through our Partial Payment Plan you can in- vest any sum from $25 up and receive 7% interest on every dollar from the date the money is invested. B. F. SAUL CO. Calves—Recelpts for week ended were 1,563 head, | 1 kfi's?.'drf.;d last wedk.. Calves, | compared with the same pariod 1 Potomac Electric Péwer Co. Genml. . Mige. 7% Boads........... 1941 AtMarket 6.70% Pennsylvania Railread Co. Equipment Trust 6% Netes. ........... .1934 101.74 5.80% Equipment Trast 6% Notes....1932 10153 5.80% Government of the Argentine Nation © 7% Gold Notes. ...... ee... 1923 99% 7.20% Goodyear Tire and Rubber Co. Deb. Mtge. 8% Bonds. ...........1931 AtMarket 8.00% Circalars Deseribing These Issues Upoa Roguest CRANE, PARRIS & COMPANY SAMUEL UNGERLEIDER & CO. New W‘:;;::l Hotel Meazanine Floor James Sloan, Jr., Manager MEMBERS | New York Stock Exchange Cleveland Stock Exchange Golablished 1889 . A Rust Fiot Mortgage Loans 7% In Convenient Denominalions Chicago Board of Trade g Telephones Main 3364-3367 Leader-News Bldg, Cleveland, Ohio Chamber of Commerce, Columbus, Ohlo J. S. Bache & Co. and Halle & Steiglitz Investment Bankers Y& New York Correspondents . 823 Fifteenth Street Mortgage Loans — ‘ 1412 Eye St NW. ; Established. 1883 gty 912 Ffreenth Street lain 6888 Ofen at 8:30 AM. Every Banking Da This b.Mmy nr-&u buy ?4:]-’ First M:fl'snu cause, as €] 'y €] Booklet | afford to uu:esfiu?' -g,.,’ ;‘.‘J:"‘.’..n ‘their will - r.::tnndntiercby.“ of Experience, and have Make Every Pay Day an Occasion P . Hel, In Phillips' Fil for Bankmg Somethmg Yo: rN-EnVEIl S| '5::-5‘%?&.’.‘.‘4"3.‘.:‘&‘.':'1%".233:.' i * Our conservative business methods have so pei protected and safeguarded the funds of our investors that not a single client has [ ever lost a dollar of principal or interest on any Investment purchased through wus. fi drudgery of living on a salary forever—the way { hundreds of successful people got their start. Become a “Columbia” thrift worker this fif- booklet “A” it! ider 1 o e téenth—there’s a passbook ready for YOU. Ak for ot AT it FREE COHS! Washmgto i Foreign Exch Foreign D: Letter: illiam hilli . P e chrZ’Z:s;‘:a::fg: CI::&S:— ren W po S. P ps THE population of the National Cap_itnl in 1920 Ao - i ’ Gl Phioye-or irst Mortgage Investments . reached 487,000. It was 331,000 in 1910 and 53 m) 3 Tol et i 91 el bl * Ty T4, Sheze. has béeh & commiseny, sady : with as A ly y 2= —— = enlargement of Washington’s population. e THIS steady growth has been reflected in stable property values. It explains why our First Mortgage Notes on improved Washington real estate are recognized as the safest possible invest- ment. Swartzell, Rheem & Hensey Co. 727 15th Street N.W. ‘Washington, D. C. ’The Nation's Home Town. * .52 Years Without Loss to An Investor. B $50,000,000 New York Telephone Company . Dated October 1, 1921 g . iDn October 3, 1941 Interess paysbie April 1 end October 1 in New Yerk City mmmmmmdnh,m-w:m.m-wm Regirtered Bonds in denomi- netions of $1,000, $5,000 end $10,000. Coupon Bonds end registered Bonds, it end the seversl denominetions, interchangesbie. sl Redeemabis, st the option of the Company, i whole but not in pert, on October 1, 1931, o¢ on any interest date thereafter, upon 60 deys’ notice, at 105%, and accrued interest. BANKERS TRUST COMPANY, NEW YORK, TRUSTER. Following is a summary of the lester of H. F. Tharber, Esq., President of the Company, stating the porsiculars in regard to the issue: i s The New York Telephone Compeny operafes the onfy comprehensive telsphone system the State of New York (including New York City) end in the northern part of New Jessey. fhaghons The present value of the New York Telephome Compeny’s physical propersy, which is the velwe used for rate making purposes, is largely in escess of the cost of that property as csrried on the books. On September 30, 1921, the book cost of the Company’s assets, valuing securities of subsidiery compenies at conservetive figures, amounted t0 over $408,000,000, whereas the total bonded debs, including the presens issue, aggregstes less then _ $142,000,000. During the last ten years, $83,795,000 from revenues has been reinvested in physical preperty or in Bell system securities. . ) For the lost twelve years the net earnings of the New York Telephone Company have averaged over four and one-half times its interest charges. Inasmuch as the proceeds of this issus of Bonds ere to be used for future edditions to property, net earnings should be materially increased. The Compeny has peid uninterrupted dividends at the rete of not less than 6% per annum since 1896, and for thmtzbmmhapaumatrhc_-muduno]l%.fludompny‘:wmmfluapfldmk of $166,000,000, which it is proposed to increasejst an early date to approsimesely $216,000,000, is owned by the American Telephone & Telegraph Company. 4 The Bonds are tojbe issued under a Refunding Mortgege dated October 1, 1921, covering efl the res! estate, rmm:&w:umhcn:mqmvnuamq-mw about ), includi controlling interest in stocks of the Bell Telephone companies operatin; - in Pennsylvania, Marylond, Virginia and the District of Cotumbia. o-m.mmm.nwm: indebtedness aggregating $67,416,515, of which 866,543,218 constitutes the Company’s First and General Mortgage 4% Bond issue, due in 1939, which is being steadily reduced by sinking fund peyments. The Refunding Mortgage is to secure ratably with the bonds issuable theréunder (inciuding the Series A Bonds), the outstending 323,929,100 Thirty-Year Sinking Fund 6% Debenture Bonds due in 1949. Addisional bonds mey be Zssied under restrictions set forth in the Mortgage. # The Refunding Mortgage provides for sinking fund payments to @ Trustee at the rate of $350,000 querterly, beginning Jenuary 1, 1922, such peyments to be used in purchasig Series A Bonds, if obtsinsble at not ex» ceeding 100%% and occrued interest. Any portion of eny quarterly isistalment which cennot be so applied is - 20 be credited on the nest ensuing instalment in reduction ef the amount then paysbie. h The issue of the Series A Bonds has been authorized by the New York State Public Service Commission. Bonds For Safe Investment Over a long period of years, good bonds have been proven to be one of the safest and most desirable forms of investment. They are the one form of investment through which the investor can safel{ take advantage of rare periods of high interest rates, such as now prevail, to insure the receipt of the same high income for many years. Bonds are safer than stocks, are more readily converted into cash than real estate mortgages, and can be obtained in convenient denominations of $100, $500, $1,000 and larger amounts. Bonds are obtainable in'almost any matu- rity, enabling an investor to secure the return of his capital at any time desired, whether in one year, or twenty years, or more. Good investment bonds require no attention, other than the zashing of the coupon or check at the regular interest periods, usually every six montits. runds invested in such bonds are almost the same as so much ready cash, so easily can they be sold or used as security for bank loans. It is because of these, and other desirable features, that banks, institutions, insurance companies and wealthy investors have regularly invested a large part of their resources in bonds. . For nearly forty years we have been dealers in investment bonds. We pur- <hase with our own funds new issues of Government, Municipal, Railroad, Public Utility and Industrial bonds, and resell them to our clients with our recommendation. THE ABOVE BONDS ARE OFFERED, SUBJECT TO ISSUE AS PLANNED, FOR SUBSCRIPTION AT 97% AND INTEREST, TO YIELD OVER 6.25 PER CENT.’ P e Subscription books will be opened at the office of J. P. Morgan & Co., at 10 o'clock A. M., Tuesdsy, November 15, 1921. The right is reserved to rejecs- any all applications, and also, in any case, to award a smaller amount than applicd for. The amount due on allstments will be payable at the office of J. P. Morgan & Co., in New York funds, the dase of payment to be specified in the notices of aliotment, ageinst delivery of Temporary Bonds, exchangeable for Definitive Bonds when recesved from the Company. . We shall be glad to send investors our Monthly Bond Lists and special new offerings from time to time, without obligation on their part. This service -~ will enable investors to become familiar with a very wide assortment of representative bonds and their current values, and will give them the benefit of our recommendations, which are based upon a long experience in satis- factorily meeting the requirements of thousands of investors and institutions. - Ask for Lists AB111 J. P. MORGAN & CO. , ; .KUHN, LOEB & CO. , KIDDER, PEABODY & CO. . Harrls, Forbes & Company . FIRST NATIONAL BANK, New York NATIONAL CITY COMPANY, New York 2 _Pine Street, Corvier William, New York BANKERS TRUST COMPANY, NewYork ° ~ GUAKANTY COMPANY OF NEW. YORK , RREsa Rl ‘ HARRIS, FORBES & CO. -3 ; " “LEE, HIGGINSON 'CO." boesiir ot =gy ; As ull of the above bonds have been sold, this ad< i Ida 291. P 3 o vertisement appears. as 6 mattey of record owly... - - - v E 5