Evening Star Newspaper, December 6, 1921, Page 25

KA S LS FINANCIAL, THE - EVENING STAR, WASHINGTON, D. TUESDAY, DECEMBER 6, 1921 FINANCIAL. R, s 15 Years —without the loss of a single penny ip either principal or interest {s only one of the many EQUITABLE |} - e tion o in the Darket o Purchare Bocond ey ‘Wash. 1.. & Trost | Co-Operative Building If you have money to in- ot M ot improved Rea Joseph 1. Weller 7 < g 1 Es- Hafiiman & Co. : M | roasons :for investors to buy | z o : 7 N jood 7y : i‘ L Am : ;’: “:‘xér:kg vlca.u‘;to:: R ey """":::‘Z:yv S 4t ls casy to secure and easier to fpyl{d But if it is MEMBERS: NI Orgunized 1878 edg NATIONAL MORTGAGE AND Y invested where it will earn a generous dividend, the temp- (v} N gdges. Our record of 30 years INVESTMENT CORPORATION ' | Our connections locally and § Y L P =4 " NI 42ND YEAR COMPLETED insures rotection. Cour- 5t | other cities enabie us to fu tation to spend it disappears. § . New York Steck Exchange N gt your p. ion. Tompornty ofice, nish money 1n any smount for | 5 2 gl Gilt-Edge First 2 Nl Assets $4.308,536.85 teous treatment. ' . Washington Real Estate En-| The first trust note is a safe, conservative investment. Mortgage Loans 111 Broadway, New York Nf| Sories - $1,007.900.91 P ; l-L R I Do Bexoot! N.VE: “g’fl"‘ & Fai 2 wherein knowledge and experience are unnecssary if you- No Investment Better, Few As Good. NI Savings With Greatest ucy “s'e“‘ 0. E tone airfax i deal with a firm of high standing. 4 Send for full details. Certi-. [' N . Results - e W Aves Mais 2424 S.W. Cor. 15th & “K” Sts. fled titles aml insurance pol- icies furnished with notes. OUR SERVICE TO SMALL INVESTORS We have made our notes in denominations as low as $100 to enable small investors to participate. We gladly explain in detail all about the first trust notes, and show the inexperienced the way to put their money to work for them. A handsome booklet we have just issued tells you about . Write or call for it, without obligation of any kind. ALLAN E. WALKER & CO.,Inc. L€ ll 813 15th St. N.w. Main 2430 Mezzantue Floor —Join the Eqiitable and save aystem- atically. ~ Then you will establish & fund to make a deposit on & Subseriptions for the | 82d lssue of Stock Being Recetved Shares, 5250 Per Ments. [} 45 £ We are in a position to give you the fost vervice (n real loans. Mosey mow ou Band for efther straight or building loans. Shannon & Luchs M. 23465 713 14th St. |! Conservative. courteous con- sideration- to all our clients. Notes from $250 up to $10,000 Now on Hand Chas. D. Sager Losn Dept. M 36 923 15th Washington Office COLORADO BUILDING Telephone Main 1603 4 Per Cent Interest EQUITABLE BUILDING 915 F St. N.W. ~ZYO )HN JOY EDSON, Presidens FUANK P. REESIDE. G. B. Chipman Manager Samuel Ungerleider & Co. — Brokers You Show Good Judgment * When You Invest in . FIRST IMORTGAGES They give you freedom from worry and~ annoyance and 9% In Denominations of $100 and Up 2 2 R T P Revenue Act of 1921 We have reprinted the complete Act with anno- tations and a compre- hensive index. James Sloan, Jr., Manager MEMBERS New York Stock Exchange Cleveland Stock Exchange Pittsburgh Stock Exchange Columbus Stock Exchange i 0 Chicago Board of Trade o | CJ u O Telephones, Main 3364-3367 i . . Leader-News Bldg., Cleveland, Ohio ; ! J. S. Bache & Co., and Halle & Steiglitz Finst 9110"[9099 foans Chamber of Commerce, Columbus, Ohio New York Correspondents . i 7 0/ i | o In Corwenient Denominations Shall Germany Be Receivershipped? In the environment of the Disarma- ment Conference in Washington, C. \W. Barron reflects the conse- quences of the “flight of the mark” in Copy on request for ML-435 The National City Company Washington—741 i5th St. N.W. Te osc Main 3176 Safety is unquestionable when placed by -Shannon & Luchs Main 2345 713 14th St. ; v Barron’s The National Financial Weekly 1422 F Street N.W., Washington, D. C. : 912 ‘(:,fi;f{een{'\ Strees IMain 0888 At Principal Newsstands “The Partial Payment House” Use Our Private Wires The private wires in our Capital & Surplus, $2,000,000.00 A PRACTICAL GIFT HINT We suggest that you remember your growing boy or girl at Xmas with an interest-earning ac- account in this old bank. ‘The building of a bank ac- count is an incentive to thrift and effort—shapes habits that do lifelong good. 27 Deposits welcome in any amount —uniform rate of interest paid on small and large accounts. National Savings & Trust Co. 55th Oldest Savings Depository in Washington Year - Cor. 15th and New York Ave. l. Consider Washington— \‘\ HREE-QUARTERS of all of Wash- your use in tations . and orders immedia the principal nancial markets throughout the country ington homes were rented in 1910. Last year this percentage had reduced to 69 per cent, due to a strong “own your own home” movement which ‘Washington witnessed in the past decade. EACH family that is transferred from A the list of renters to the list of home owners, becomes an added civiec asset. It ” I is a well-known fact that the increasing. Their use involves no cost to you. They are part of our quick service to buyers and sellers of stocks and bonds. A MARGIN OF SAFETY No one likes to ride with the motorist whe al- lows just an inch for the other car to pass. A reasonable amount of room is essential for safety and comfort. Write Dept. M for our latest Market Letter. volume of loans made through our First Mortgage Notes on improved Washington real estate has been an important factor in making this development possible. Swartzell, Rheem & Hensey Co. . 727 15th Street N.W. Washington, D. C The Nation’s Home Town. Members Baltimore Stock Exchange Are you living your life in accordance with that principle? Or are you habitually running too close to the traffic? A savings account is 2 margin of safety for you and your family, both for the present and for the future. “Safety, Convenience, Profit” 3% Compound Interest Paid On Savings Capital and Surplus $5,400,00C $4,300,000 The Pure Oil Company 8% Cumulative Convertible Preferred Stock 52 Years Without Loss to An Investor. ¢ AMERICAN o SECURITY & TRUST COMPANY 15th Street at Pennsylvania Avenue HOME SAVINGS BRANCHES 7th Street and Massachusetts Avenue, N.W. Eighth and H Sereets, N.E. 436 Seventh Street, S.W. Member American Bankers Association Preferred as to assets and dividends. Redeemable at the option of the Ci)mp;my on any dividend date, upon 60 days’ notice, at 110%. Dividends cumulative and payable quarterly January lst, etc. Convertible at any time prior to July 1, 1923, into Common Stock of the Company at the rate of two shares of Common Stock for each share of Preferred Stock ; CAPITALIZATION (including this issue) Authorized Outstanding. Closed $3,063,000 $7,980,000 7,980,000 30,000,000 19,959,600 - 100,000,000 50,381,625 Mortgage Bonds of Gas Subsidiaries . 7% Serial Notes, due 1922-1925 . Preferred Stock (Par $100) ...... Common Stock (Par $25) paying 8% For many years the large railroad transportation systems of the United States have been widely recognized as providing a substantial basis for conservative investment. Bonds secured by mortgage on our stronger railroad properties have long proven popular not only with our own people but also. until the War, with the great investing public of the British Isles and Continental Europe. s We summarise as follows from a letter of Mr. B. G. Dawes, President of the Company: 2 COMPANY: The Pure Oil Company (formerly Ohio Cities Gas Company) ranks among the six largest oil properties in the United States. Its opera- tions cover every phase of the petroleum industry—producing, refining, transportation and distribution. Its products are sold under the nationally advertised name of “PUROL” gasoline and “TIOLENE” lubricants. ASSETS: The consolidated balance sheet of October 31. 1921, shows net tangible assets of $585 per share of Prcierred Stock outstanding, includ- ing that now offered. EARNINGS: Tor the four years ending March 31, 1921, earnings after taxes and depreciation and available for dividends have averaged more than seven times the current preferred dividend requirement of approximately $1,356,000. For seven months, March 31 to October 31, 1921, in spite of unfavor- able conditions in the oil industry, the Company’s earnings amounted to $2,744,375, which is at the rate of about 3%; times this requirement. The wide distribution which these issues receive has always assured their holders a ready market, and they 1epresent to-day the most liquid type of corporate investment. This quality of quick convertibility into cash makes the inelusion of railroad bonds in a well diversified list of investments desir- able for those anticipating the use of their funds before maturity, especially banks and institutions. there were no railroads—no tele- graphs—no telephones. The nation was small—enterprises were small. | As industry commerce and trade developed and expanded, the demand for capital became greater. Since 1820 the New York Curb Market has con- stantly met this requirement, thus aidil:lg the tre- mendous growth of American business. 1 Railroad Bonds For'Investment Railroad bonds of the higher grade, because of their ready marketability and inherent security, are one of the most desirable forms of investment. "As a class they are secured by properties having an aggregate vzlue, as found by the Interstate Commerce Commission in 1920, of over twice the amount of bonds outstanding against them. The indispensable and public character of the properties as the arteries of the Country’s Commerce; the substantial equity over and above all bonded indebtedness; the relative stability of earnings of the carriers and their ability to pay interest on their bonds in periods of depression are some of the con- siderations which have induced most of our States to permit funds in the rustody of Savings Banks and Trustees to be invested in approved rail- road bonds. . = The regular membership of this exchange is limited | to 550 members, who operate under a constitution i t which provides maximum safeguards for the H public? And Jones & Baker, ng‘arly 40¢¢ of whose new customers are introduced by old customers, are one of the leading factors in this great market. They have developed serviee facilities which make them the natural “information headquarters” for the stocks traded on the New York Curb Market. EQUITY : The growth of the Company has been financed chiefly through the sale of common stock. Since 1914, $37,270,000 par value has been sold for more than $44,800,000 (an average price of over 120%). Dividends have been paid on the Common Stock continuously since 1914 at varying rates, together with stock distributions. The present rate is 8% per annum in cash. This Common Stock at present quoted prices (equivalent to 150% of par) has a market value of more than $75,000,000. We have participated, after careful investigation, in the ‘underwriting of original issues and have dealt in high-grade railroad bonds for many years. ‘We should be pleased to render any service in connection with railfoad bonds or their purchase for investment. " Application will be made to list this issue on the New York Stock Ezxchange A ey : Our Decessber Bond Circular offering a numbet of railroad bonds Price 100 and accried dividend, yielding 8% An interesting booklet on this market and its develop- When. as and if issued and received by us and subject to approval of counsel, 3 : 3 i = ment will be sent on request e Harris, Forbes & Company : : DOMINICK & DOMINICK Pine Strest, Corner William, New York e ONES & BAKER New York : ik Tdophone: . T 851 New York Curb Marke: | -W. H. HARRIMAN & CO,, Inc. OTIS & CO. R o e e ) . = 3 - New York Gevqimd s 3 hlhmmmflmm“mfll“.hfilnhwbhm