Evening Star Newspaper, November 18, 1921, Page 31

FINANCIAL. THE EVENING BTAR, WASHINGTON D. C. FRIDAY, NOVEMBER 18, - 1921, FINANCIAL.® " 81" g = PASTOR'S NOVEL OFFER. PILGRIMAGE TO JERUSALEM. | vith the (ntméat_comfont emd O - Money to I_.oan LR e %21, | American Telephone & Telegraph Co. o 15 Years | STARKVILLE, Miss, November 18.| NEW YORK, November 18.—Pil-|when the climate is most pleasant in LOANS Secursd by frat deed of truet on resl estate. | 4 o nzi:fl]nzgfifl:fl.“ e o 129th DIVIDEND —_without the loss of a single —Hubert D. Kniokerbocker is one of | grimages ot Jews to the Holy Land, | Palestine. J n.mlmw..].r. 220 eommigmion. | on e e Mot o P T Anm.::n "::"}‘.:r“-n:'m’r::x Doltars and { Jonny in cither principal or | ithe foremost preachers in Southern | which have not been undertaken dur- If you have money to in+ oseph I. Weller 008 faasam; | Company. will Se paid on December 81, 1621, | TECALT P50 Lam® 0T 0" " toekhal ers of record as the; v ai 0 v - H o a -y interest is only one of the many }} Methodism. He is an eloquent speak- | ing recent years on account of unfa- $5,000 Life Policy, $57.35 vest we can safely place it on the"cloue of ‘bosinees ‘on December fz-xm, BCod ot ithe Clow (o€ ustusts n Tyieutn s 0 o casons for investors, to buy er and an outstanding fact in his o The e ¥ s ministry ls that he rarcly has a Sun- | Vorable conditions, will be resumed |4gs (., B gue of etk vr Saie || o 4o et D. C. Yort- Attentlon, Builders e e, T MACKET, Trcasurer. . BLAIRSMITH, Treasurer. day in his church at Wichita Falls [next vear, when & number of Amer-iy 'y m ROy GOFF, Insurance Advisey Stimulation of home building. — e { Tex., without conversions. Dr. Knick- | ican Jews will go to Palestine for the Al gages. Our record of 30 years 1lmne Xational Mortgage and Investment Cor.!NMon (o) | erbocker, while conduciing speoial [ Passover holidays, leaving New York| g o0 gedllbrmches = o o0 instires your protection. Cour- tion is in tie market to purchase Eecond ey services here recently, made a special [Much 4. After a ten-day stay in 3 yo st Mortgage Notes on improved Real Eo-| [ S G'lt Ed e First |nffer of $1 to the person who went to | Egypt they will ocross the desert into OANS teous treatment. !l;!:d vay gllgl‘ monthly: #nd notes -:tnnd‘.tz Allg um 14t g | sleep during the service. the Holy L'(a"d'ht"mt'“.y tmmI Jafra LIB BON tm'an ‘rust on undivide: interests in om‘:rrcgl':?::‘n:-ml:null‘,t:‘n in Tk = to Halfa and thence to Jerusalam. ERTY 3 fur Mortgage Loans “The pllgrimage is liaited to & PRy P H. Rme“ Co NATIONAL MORTGAGE AND nish money in any amount for number of representative Jews and B . o INVESTMENT CORPORATION Washington Resl’ Estate En- | * No Investment Better, Few As Good. " Send for full detalls. Certi- “fied titles and_insurance pol- icies furnished with notes. Conservative, courteous con- sideration to all our clients. Notes from $250 up to $10,000 Now on Hand will make it possible next year for those who have been yearning to o to the land of Israel to visit the land Temporary office, Sansbury Bldg. 1418 Eye Street N.W. Stone & Fairfax 1843 N. Y. Ave. Main 2434 { EQUITABLE S. E. Cor. 15th & “K” Sts. il Co-Operative Building I oAuocilfi:l" il- 40 s s T Chas. D. Sager || soee . - .$4,303,836.65 Loan Dept. M 38 Surplus .. «+ . $1,097,900.01 bl SAVE SYSTEMATICALLY Unless you adopt a systematic sav- ings plan, very little will be ecom- plished i a financial way. Joln the Equitable. Subscriptions for the 82d Issue of Stock Being Recetved Shares, $2.50 Per Month 4 Per Cent Interest New Willard Hotel Mezzanine Floor James Sloan, Jr., Manager MEMBERS New York Stock Exchange Cleveland Stock Exchange |fi ttsburgh Stock Exchange Columbus Stock Exchange Phubery ““Chicago Board of Trade 2 Telephones Main 3364-3367 Leader-News Bldg., Cleveland, Ohio S W. STRAUS & CO. offer the bonds described 'e below as an investment of exceptional strength and attractiveness. These bonds are a first mort- m the home of one of the largest and best industrial corporations in the United States. They combine extraordinary real estate security with definitely I'flted earning meeting two of chief STRAUS PLAN. We have purchased these bonds after careful investigation and offer them to the in- wvesting public, with our full recommendation, as a safe investment for sums of any amount. Over a Quarter of a Century in Property Manage- ment. Rental Property For the successful man- agement of your rental property, we offer you a competent and experienced organization, animated by the desire to handle your affairs in a manner that will be absolutely satisfac- tory to you. Place your rental prop- erty.in our care. We will both profit by it. B. F. SAUL CO. Property Management 1412 Eye St. N.W. Main 2100 Commerciai Accounts We solicit accounts of firms and individuals desiring a mod- ern hanking service. Monthly statement service. N 1336 N. Y. Ave. § N N An Important Difference It is one thing to maintain a flawless record in a few trans- actions stretched over a long period of time, but quite an- other think to stand the test of a constantly increasing volume of business in First Mortgage Notes without loss to_any client. During 52 years we have handled over a hundred mil- lion dollars for thousands of clients. Swartzell, Rheem & Hensey Co. 727 15th Street N.W. ‘Washington, D. C. The Nation’s Home Town 52 Years Without Loss to an Investor Thereis opportunity for the trader in Largest Stock Market.” of a World Market,” con- tains valuable informa- tion and an interesting | map, enabling you to | visualize the colossal scope and world-wide | activities of companies | whose stocks are rraded | on this great masket. Copy given without obligation. Ask for UUS518 ONES & BAKER | : NewYork Curb Market | Direct Private Wires | New York Chicago Boston Philadelphia i Putsburgh Detroit Balumore Cleveland BALTIMORE OFFICE 433 Equitable Building Telephone: St. Paul 8451 “America’s Second | A new book, “The Story : EQUITABLE BUILDING 915 F St. N.W. $9, Ty Your $Ilent Partner When you work without saving, you work alone. Your income is derived solely from the sheer weight of your own strength and ability, and is subject usiness uncertainties. to the usual risks of health and ‘When you save and invest your savings, you have working with and for you a silent partner, whose income serves as insurance against these risks, and who some day may-earn more for you than you can make by your own efforts. The principal requirements, if you wish to provide for your future a sure and independent income, are the assured return of your money at some definite date, and the payment of a fixed annual income for the use of your money. These qualities are best combined with other advantages, in the opinion of the most competent judges, in sound, well-chosen bonds. Never before in our forty years’ experience as investment dealers, have interest rates been so high and bonds so correspondingly low in price, as in the last few years. The high interest rates now obtainable, shown in our Novem- ber Bond List, are rapidly declining, as indicated by the reductions in the Federal Reserve Bank rates and the advance in bond prices during the last If you desire to take advantage of the present very exceptional opportunity for the most profitable investment of ‘your funds, you few months, v EREEA L investment banker without delay. ‘We shall be glad to have you call at our Washington office and consult with us about bonds, and how best to take advantage of their present low prices. A copy of our November Bond List will be sent upon request. Ask for November Bond List Harris, Forbes & 'Company Pine Street, Corner William, New York Washington Office, Nibbs Bidg. Telephone Main 2978 Recent Events the Faith of Holders of Cities Service Securities N Monday, November 7, the price of crude oil advanced 50 cents a bar- rel. Since late September two other ad- vances of 25 cents each have occurred. These increases substantiate the predic- tions last spring of well-informed ofl men. Conditions point-to continued in- creases with prospects of an oil short- age by 1923 Cities Service produces about a million barrels monthly. The advance of oil §1 a barrel means a $12,000,000 increase in annual earnings, and an addition to in- ventory of $4,000,000 on its 4,000,000 barrels in storage. " Sharp Advances Registered These improvements are reflected in sharp advances of Cities Service securities. Sep- tember 29 Bankers’ shares sold at 14. The market today is 2434-2514, or nearly double. The other issues show relative strength. These events are gratifying to Cities Service holders who were unshaken by the sharp decline in -market values fol- lowing the suspension of cash dividends last June. At that time, with business generally out of joint, Henry L. Doherty, mindful of the best interests of his stock- holders, counseled this temporary sus- CIRCULARS ON REQUEST Thomas W. Brahany & Co.. 510-11 Evans Building, ‘ Washingten, D. C. . Chamber of Commerce, Columbus, Ohlo J. S. Bache & Co. and Halle & Steiglitz New York Correspondents ould consult your I v T Have Justified pension, to fortify further the strong position of Cities Service. During the summer and fall operating expenses have been notably reduced, utility earnings have steadily improved, and marketing plans pushed. The surplus and reserve is today over $50,000,000. Investors Advised to Hold Throughout this depression we have advised investors to hold to their Cities Service securities. We have reminded them that Cities Service is one of the largest oil companies in the world; that it is devoleped in all four branches, pro- ducing, transporting, refining and mar- keting; that it controls over 8,000,000 acres of potential ofl territory. Such facts indicate to us that Cities Service will be a major paricipant in the coming Age of Oil, with consequent benefits to owners of its securities. 4 The recent upward movement of these issues, the most conspicuous in the mar- ket, seems to justify the judgment of those who held, and still hold, Cities Serv- ice securities. Net earnings of the Public Utility sub- sidiaries of the Cities Service Company are now the greatest in their history, , Main 6189 e L i B3Ry o, i . e s Beaen ) mye-d e NININYY,_ERERAR Maeseaaire Tnnr AT JNITT EEEERE Maiatse: $12,000,000 General Motors Building Corporation DETROIT, MICHIGAN First Mortga%e 7% Serial Coupon Bonds (Sq under the Straus Plan) . e 4% Federal Income Tax Paid Entire Building Leased to General Motors Corporation DATED: November 1, 1921 INTEREST COUPONS DUE: May 1 and November 1 STRAUS PLAN AMORTIZATION NDER the covenants of the trust mortgage, the bonds are paid off in yearly serial instalments, the coupons being payable twice a year. In order to assure prompt payment of both principal and interest in cash on the days due, the trust mortgage requires the borrowing corporation to make 300 approximately equal monthly pay- ments to S. W. Straus & Co., each monthly payment being approximately $85,000. New Issue to Net 7% ‘These compulsory payments automatically provide ine advance a fund of a little " more than $1,000,000 a year from which the coupons are cashed, the balance being - used for the serial retirement of the bonds. The fixed charges under the Straus mortgage and the method of meeting them by monthly payments are set forth in the following table: Maturity Maroring o Totymont’ Paymonte ot November 1, 1922 $175,000 $840,000 $1,015,000 $84,583.34 November 1, 1923 187,000 827,750 1,014,750 84,562.50 Serial November 1, 1924 200,000 814,660 1,014,660 84,555.00 November 1, 1925 214,000 800,660 1,014,660 84,555.00 November 1, 1926 229,000 785,580 1,014,680 84,556.67 ‘dements November 1, 1927 245,000 769,650 1,014,650 84,554.17 nd Monthl: Noverber 1. 1929 230000 Tiaieo T0i4160 et ovem] , ! 1,014,1¢ ho13. = Y pemmine b i dm e o ovem! 693, 1,014,560 ,546. ayments: November 1, 1932 X 671,090 1,015,090 8450083 i November 1, 1933 368,000 647,010 1,015,010 84,584.17 November 1, 1934 393,000 . 250 1,014,250 84,520.83 November 1, 1935 420,000 593,740 1,013,740 84,478.33 November 1, 1936 449,000 564,340 1,013,340 84,445.00 November 1, 1937 480,000 532,910 1,012,910 84,400.17 November 1,138 513,000 499,310 1,012,310 84,359.17 November 1,1939 - 549,000 400 1,012,400 84,366.67 November 1, 1940 587,000 424,970 1,011,970 84,330.83 November 1, 1941 628,000 383,880 1,011,880 84,323.34 November 1,1942 672,000 339,920 1,011,920 84,326.67 November 1, 1943 719,000 292,880 1,011,880 84,323.34 November 1, 1944 769,000 242,550 1,011,550 84,295.83 November 1, 1945 823,000 188,720 1,011,720 84,310.00 November 1,1946 * {880,000 131,110 1,011,110 84,259.17 __199s000 ... __993000 ... . TOTAL $12,000,000 $14,330,260 $26,330260 @ ........ 8880,000 Principal+$131,110 Interest paid by 12 monthly payments leaving balance to be paid on Nov. 1, 1946, $993,000. Denominations: $1,000, $500 and $100 ‘We summarize the following facts from a letter of Mr. Pierre S.du Pont, president Property of the General Motors Corporation : 5 BONDS are a direct closed first mortgage on the General Motors Building, De- Mor!xaged I troit, Michigan, the largest office building in the world, with a total floor area of thirty atres, containing 1,700 offices. The building is now nearly complete. Its cost, completed, together with the appraised value of the land, totals $20,786,000. Title to this property is vested in the General Motors Building Corporation, which is owned and controlled by the General Motpn Corporation. GENERAL MOTORS CORPORATION has leased the entire property for thirty ' l years and will occupy with its subsidiaries a ximately one-half of the building. The balance is being sub-leased. Under the terms of the lease, General ‘Motors Corporation must pay an annual rental to General Motors Building Corpor- ation sufficient to assure payment of the combined principal and interest charges on the bonds in each successive year. The output of General Motors Corporation in;.lud&c fi:gflh:,d 'Béxll:l::.n Oll:llmobcflke;;%lgvmlet and I?J‘khnd n&nomobilu; Chev- rolet, G.' o @l obile tru co starting, lighting and ignition systems; and Klaxon horns. Through ownership of a majority of the stock it controls the Fisher Body Corporation. General rs tion man more than two million cars. Agpproximately one automobile in six in the United States today is its product. INCE the rental payable by the General Motors Corporation to the General Motors Building Corporation is an operating cost, the claim of this rental against the earnings of General Motors Corporation takes precedence over the claim for dividends of the preferred, debenture and common stock. Price: Par and accrued interest to net 7%. Call or write for Circular 641-G S.W.STRAUS & CO. ~ ESTABLISHED 1882 . & OFFICES IN FIFTEEN PRINCIPAL CITIES & INCORPORATED NATIONAL METROPOLITAN BANK BLDG., WASHINGTON, D.C. Telephone Main 5847 . 39. YEARS WITHOUT LOSS TO ANY INVESTOR Prior Claim of Lease: