Evening Star Newspaper, January 4, 1922, Page 25

Loulstana will hold its first corn |The aim4s to encourage planting of BOUGHT FOR CASH. Before Placing or Renewing Fi show during the week of January . | veainons thar will pat Lowislans Bror Liberty Bond Excllange Your 1st or 2d Trust irst Mortgage The show will be in connection with |duction on the basis of lowa and the annual Farmers' weck observ-iother great corn states. 604 14th Street N.W. CH 7% LOUISIANA TO BOOM CORN. corn _ croj NEW ORLEANS, January 4.— |creasing, as is the yield p:l;" acre, "FORTY-EIGHT YEARS WITHOUT LOSS OF PRINCIPAL OR INTEREST INVESTOR } JHARRY Sy ;{53 nl°" in mvlu;f’" '°'0 S o 15t & N Y. Ave. Main 4346]| 3200 Up to $10,000 [ 3 Lowest Rates _Quick Replies ’.fl'?::‘&fl:,”“"“ such a liberal rate urLast Offering at 8% [l = : In Any Sum Cel ficates of Title ac- gl Our connections locally and ‘company note without cost to in- . : Wasningion Real” Estate Bac Chas. D. Sager s Bl sbout & 1 : e 2 e el S 923 Titteonth S¢ NW. N. S —_— * ''HP EVENING STAR, WASHINGTON, D. LIBERTY BONDS | MONEY TO LOAN FINANCIAL., ance at the State University, Baton Rouge. Louilsiana’s “Our,’ “INVESTMENTS” can_be se- @ We are making our last 85 offering of National Capital First Mortgage Investments, doubly secured by incomeproducing business property in Washington, D.C. @ As our next offering will be-at 9% wo suggest that you act prompely. @ Under our TenMonth Investment Savings Plan yeu seceive. 8% whilayyou.save and invest, Write-or Call jor-Our Beekles, Main 2424 | Harrvan & Co.| N NewYorkStockExchange | \ 1liBroadway.NewYork N Complete analysis in current {issue ef our “Securities and Commedities Review” Washington Office | COLORADO BUILDING § | Telephone Main 1603 . } o EHLSMITH @MPANY CHounded i ; s 815 FIFTEENTH STREETNW ASHINGTON.D.C, Washington Office MAIN FLOOR CORRIDOR, ‘WOODWARD BUILDING Telephone Main 2040. G.B.Chipman Manager Dutch East Indies Twenty-Five Year External 6% Gold Bonds Authorized by the Government of the Dutch East Indies—Law, December 30, 1921, Passed by the Netherlands Parliament and Approved by The Crown Not Redeemable During First Ten Years. To be dated January 1, 1922 To mature January 1, 1947 Interest payable January 1 and July 1. Principal and nterest payable in United States gold coin of the present standard of weight and fineness or its equivalent at the main office of Guaranty Trust Company of New York, without deduction for any taxes, present or future, of the Netherlands or the Dutch East Indies, Coupon bonds in denominations of $500 and $1,000, registerable as to principal only. On and after January 1, 1932, redeemable as a whole at the option of the government, or in part for sinking fund only at par and accrued interest. Sinking Fund commencing 1932, to retire entire issue by maturity through annual payments sufficient to redeem each year 1-1 5th of the amount of bonds outstanding on January 1, 1932, These funds to be applied to redemption by lot at par. Guaranty Trust Company of New York, Fiscal Agent fo the Loan The following is summarized from information furnished by cable by the Minister of Colonies, Kingdom of the Nether- lands. All conversions of florins to dollars have been computed at the rate of 2/ florins per dollar, or approximately at par of exchange. 0, WEDNESDAY, JANUARY 4, 1922 FINANCPAL, 3 Ask Your Wife Today —how she would handle youir estate + if she were suddenly left alone. You would doubtless find her very vague on this subject, due, of course, to lack of business experience. Make sure that she is relieved of this burden and responsibility by appointing this company executor and trustee in your will. This will also insure a steady in- come for herself and children. 3% Compound Interest on Savings AMERICAN SECURITY 15th Street and Pennsylvania Avenue CAPITAL AND SURPLUS, $5,400,000.00 HOME SAVINGS BRANCHES Seventh and Massachusetts Avenue 8th and H Sts. N.E, 436 7th Street S.\W, v The bonds are to be direct external obligations of the Government of the Dutch East Indies, an integral part of the Kingdom of the Netherlands under the sovereignty of the Crown, and its most important colonial possession. The executive and much of the legislative power of the colony is vested in a governor-general and council appoint- ed by the Government of the Netherlands. Bud- get ‘and other fiscal matters are originated by the Colony, subject to the control and approval of the Government of the Netherlands. RESOURCES AND COMMERCE The islands, the more important of which in- clude Java, Sumatra, Celebes, Malacca, Dutch Borneo and Dutch New Guinea, have an estimated population (largely native) of about 47,000,000 and a land area of about 750,000 square miles. The great natural resources of the Colony have for centuries given it prominence in the world’s eommerce, and after more than three. hundred years under Dutch control it is todafi1 one of the richest of all colonial possessions. The principal products include tin, iron, coal, gold, petroleum and a large variety of agricul commodities, anln)ong them coffee, rubber, copra, tea, sugar and tobacco. These natural resources have enabled the main- tenance of a substantial excess of exports over imports. _For the six years 1915, to 1920, inclu- sive, the Dutch East Indies had a larger favorable balance of trade than any country in the world, excepting the United Sttes. Trade with the United States has developed remarkably, total ex- ports and imports having increased from $9,370,« 000 for the fiscal year ending January 30, 1913, :tlg 2$l%02,840,000 for the fiscal year ending June 30, CURRENCY AND EXCHANGE ! The unit of currency is the guilder, or florin, with parity of 40.2 cents. Its present %l;otation of aj proximately 37 cents represents a discount of enly 8 per cent, reflecting its position as one of the soundest currencies in the world. s REVENUSE Total interest and amortization charges on all debt, both funded and floating, as appear by the 1922 budget aggregate less than 10% of the 1921 total revenues (partly estimated). These reve- nues, including the gross income from govern- ment-owned monopolies and industries, totaled- $267,000,000. For the period of 116 years, from the establish- ment of the colonial government in 1798 to the - outbreak of the war in 1914, the aggregate ordi- nary revenues exceeded expenditures (ordinary - and capital aggregated). From 1906 to 1913 the ordinary budget, exclusive of receipts from loans and capital expenditures, reflected in each year a favorable balance, the surplus for the period aggregating about $34,000,000. In the more re- cent budgets, due principally to capital and other extraordinary expenditures, there have been sub- stantial deficits. - The floating debt amounts to $222,000,000, but without allowance for any reduc- tion by $40,000,000 taxes levied but not yet col- lected and by any application of loan p: GOVERNMENT-OWNED PROPERTY AND DEBT Total funded debt, exclusive of this loan, approxi- mates $212,000,000, as compared with government- owned property of an estimated value of not less than $275,000,000. These properties, from which the government has realized substantial profits over a period of many years, include tramways and railroads (approximately 2,550 miles), tele- ‘phone and telegraph systems, tin mines, coal ‘mines and harbor developments. ' The govern- ment also controls great natural resources of value difficult to estimate. : For the five years 1917-1921, partly estimated for the last year, the net income from government properties and monopolies averaged $46,000,000 annually, or'more than 134 times all interest and amortization charges in the 1922 budget. . 942 and Interest - s To Yield About 6.75%' to Earliest Redemption Date, January 1, 1932 To Yield About 6.40%, if Held to Maturity When,-as.and 1t {ssued and received by us and subject to approval of counsel. It is cn&md that fnterim recefpts-will be ready fox del ivery on or about Januvary 17, 1933, ~ Guaranty Company of New York Harris, Forbes & Co. .. Bankers Trust Company, New York . —— . ¥, Lee Higginson & Co. ' Kidder, Peabedy & Co. The Union Trust Company of Pittsburgh Continental and Commercial Trust and Savings Ban!: Ulinois Trust & Savings Bank " b Chicago . « Chicago The Unio_n.Trust Company Cleveland We do not guaranteq the statements-end figures presented hereln, but they are taken frem sources-which wwe: belleve to be reliable. January Funds ‘We own and offer, subject to prior sale and change in price, the following bonds which we recommend as attractive investments: STATE, MUNICIPAL AND TERRITORIAL BONDS (Prices of all New York City Issues on Application) Interest Rate Westchester Co., N. Y., Parkway Bonds. . ..... Newark, N. J., Water & Port Imp’t Bonds.... . New York City, Gold Corporate Stock Yielding Maturities about % 1950-60 4. 1938-51 1971 1924-48 1932-34 1924-52 1929-30 1941 1950 Opt. 30 1929 1942 1931 1925 Swedish Government, [ 1939 City of Berne (Switzerland) 25-year S. F. Gold 1945 1945 * SHORT TERM AND INDUSTRIAL SECURITIES Conso.l.G:;Co.ofN.Y..Sec.GoldNOtu.... 1922 7 Refining Co., 15-year....... 6 1937 onds.. 6 8 7 .A & C =03 Swift & Co., 5-year Notes Hocking Valley Ry., Col. Tr. 6 Kingdom of Belgium, Non-Conv. Gold Notes. 6 RAILROAD BONDS, .Canadian Pacific Ry., Consol. Deb. Stock Northern Pacific Ry., Ref. and Imp. Penna. R. R. Co., 15-year Secured Gold Bond. 61 Louis. & Nash. R. R. 10-year Secured Note... 7 Genl. Mtge. Gold 7 PULBIC UTILITY BONDS st Lien and Rfg...... 6% M 6 7.07 722 125 Our-Jenuary offering circular will be sent upon request. 1 The National City Company National City Bark Building, New York Washington—741 15th St. N.W. Telephons Main 3176 Offtoes tn more tham 50 oities in the United States and Conada