Evening Star Newspaper, July 6, 1922, Page 29

FINA ‘ in Cleveland Area Is Also| 5w il o Somewns Bward tho clos o vEn xaoe, ; - 510-11 Evans Buildmg | : Employment in Clev o e o TRl e BT | e S AR R X e | The National Mortgage and Declared on. a Steady UpWfil'd ~ Swing—Elsewhere. — BY GUY T. ROCKWELL. shows steady gain. May output of | The Atlantic 887,000 rrels eets new record for ®pecial Dispateh to The Star. five years. . CLEVELAND, July 6.—The strike [put at 43,000,000 barrels. Fl er of railway shopmen has not inter- Hardware. | l L y ~ferred materially with railroad or indulfi{lrm -H;l Atetcs Immense del;mnd for farm implements | il —tan into an’' open conditions ~ show has followed steady improvement of i 7 i . provement. “Work*’n® th a5 | han followed, staady Improven switch, resulting in un shops is being handled by new men brought here since the strike was called. - Employment is_on a steady upward swing. 3 Wo vears. Men and women placed by this pared with 2721 in June, 1921 gng, hundred industrial firms showed ,621 more workers emploved July 1 h: Employment in 1 on Ma automoblle plants since December | Consumption of plate glass in the Der cent, and took | auto industry is larger than last year. & jump of 2.9 per cent last month. Demand for both window and plate | || Although new steel buying is re- | glass is unusually large for this time ported somewhat less active, steel!of year. makers are obligated ahead from fakers are obligated ahead from Wool. ! terested in New York 9§ This experience, as represented in our officers dustry as a whole in n’:g lseer:tlon BOSTON, July 6 (Special).—Wool Th L Hi Brok: d H s is al > di: '} 3. Income. continues to operate at about 75 per | market continued dull, byt with a omas L. Hume, er Curb E_"ChaflECSfOCkS and organization, is always at your disposal. 4, Insurance Against Loss. o e pacl . s e suipmants o0 | it undasions; (Prives hive settled| 412G St. M. 1346 andbelievesinhisown # Confer with us and find out how we can co- 5. Protection Against Depreciation. 3,600,989 tons in J 1 vear. Thi r : ! T o Brougnt e total for the Hrat Six | Dermanent teo Y §rhected under judgment, we offer ac- § operate in your interest. 6. Prompt Payment of ln:r-t. :.’:";"‘r‘mied“w’{;z% !(" :a"ifi%fi?m'“{i’é 85 per cent of domestic clip has been curate mfomnon on g ymen! ts of Princip: in Full corresponding period a year ago. | specific issues. Aty i Cotton. d Interes Choice First Investments Car Shortage in Southwest PHILADELPHIA, July 6 (Special). WILL BUY This includes 3% c{:‘;’,'.'p:.':," ,,,':,' a s‘.z,‘:, ?us:.,fi:‘.’{ $l $100—$25H 500—$1,000 : ; it o | —The governme, 4 Is Only Fear in Rail Strike | conaiuion naa stimaiming erect on| International Finance this convenient Bank with as little as p £ 4 BY DICK SMITH. jyarn market and also strengthened 5 = e A, 'Illll" s P“lul's ¥ prices f manufact: d ds. Re- ° - stical Special Dispatch to The Star. gent ‘org:rs n':'z- d:‘i'?:;nl :ggr:’: hin\?e Corpo“hon stuck :;t‘l’m and annual s KANSAS CITY, July 6—Th 1y | been for prompt deliveries and prices Realtor apprehcnsion exprisscd ‘here”aa. 10 | Have been very firm. S. A. SCHOOLFIELD =¢is gosip of the markee : 1400 N. Y. Ave. NW. Main 4600 he effect of the shopmen's strike is We—8 Roem 810 Cantinental Trust Building The cost to youis but the { Washington's Oldest National Bank - freight cars to move the wheat crop.| AMARILLO, Tex., July 6 (Special). effort of a phonecall, let- There normally is a shortage of cars | —Highest prices pald for calves since and a protracted strike would aggra- vate this by taking out of service cars that normally are repaired with- | part of this month. Calves were for out serious loss of time. Railroad | falr delivery. officials express confidence that they will be able to handle normal grain shipments. Any tle-up in the crop movement would have a decidedly ad- vers here is decidedly strong. Certaln Thies golect on. general bumiiess iin | (PTG, S0 s (C0Te lenthor have réxistored With marketing of the first wheat, | 200ther advance of about a cent buying has increased in the rural ais. | following recent advance of from 2 to tricts, especially in implement lines. | # cents a poufid. Dry hide leathers John Deere Plow Company announced | 2180 are up about a cent. today its orders already have passed the peak attalned in 1920. While or- ders are not large, the general in- crease has occurred throughout the seven cefitral and western states served by the firm. The banks of the southwest are in an improved condition. Local insti- tutions have increased their deposits §21.000,000 in the last two months. There also has been a slight increase’ in loans. The aggregate resources of the fifty-one national and state banks | Cents a half pint. This is due to and trust companies here amount to | 8¢atly increased sale of ice cream, $338,000,000, as against $319,000,000 a year ago. Heavy Auto Touring Gives Impuise to Better Trade BY PAUL C. HEDRICK. ordered !rfom w;mmzm;uu Elerclrlc JOHN JOY EDSON. Preafdent and Manufacturing equipment for a ANK P. REESIDE, Secy. Epecial Dispatch to The Star. power plant at Maracay, Venezuela. L SATTLE, July 6.—The four big|The plant is part of a chain of gower corporations shipping gasoline and |plants that is being constructed. lubricating oil to Puget Sound from California are now operating their | kers at full fleet capacity for the t time this year. This increased | Paul shoe manufacturers report that Ivity has been mecessitated 1ot ol | iImprovement in agricultural districts . Seiple. of the|Trading In sugar futures was inaug: _state city employment bureau, 8aid |rgted in this clty today. Three co today that more workers had been |iracts will be used, ons for Loulsiane laced in June than in any month for | gugar, another for foreign raws. and & third for granulated. =This ma not only handles all the Louis! Dureau in June totaled 6.434, as com- | Dol Oy handles all the Louisiana plicutions nhave fallen oft similarly, | refiners have imported 2,700,000 bags he chamber of commerce survey of |of raw sugar. NCIA For $100 Nonds Today ing to recent reports, retail sales by de- res in New England were of June, Yery hot and rainy In Boston during latter part of June. 604 14th St. N.W. Present storage here is FORT WORTH, July 6 (Special).— V‘HN_AII&!?'B‘ property. TO Y Sugar. fimel_y d«lflu and dis- NEW ORLEANS, July 6 (Special).— NING STAR, - WASHINGTON, TRADE SHOWS IMPROVEMENT |wiift i, st TRy soRD Picss s o & }|[ CITIES SERVICE SECURMTIES DESPITE STRIKE, SAYS REPORT|" > "“ " . P e e : | Investment Corporation We Offer for Investment Real Estate Notes Of responsible makers secured by lat n’e': PROMPT PAYNENT OF INTBREST GUARANTEED. Bank of Bethesda, Md. FINANCIAL Second Trust Notes Are Purchased by Bought, $old, Quoted THOS. W. BRAHANY & CO. Investment Sesurities On A Fair Basis (Temporary Offices) Third Floor Sansbury Building 1418 Eye Street, NW. Columbia National Bank Srat 911 F Street S, t prevents =switch accidents Interstate Com- merce Commission has just issued a permanent order compelling 49 rail- roads to install an auto- matic train control. We_ acoept orders to duy and sell Miller Train Control Stock The Glass, PITTSBURGH, July 6 (Special).— if you think 1920 have been secured by ranchmen in the Panhandle district the fret | [ T mers’ room. EQU!TABLE Ask about the stockstha interest you. 4 Leather. 2 BOSTON, July 6 (Special).—Leather Co-Operlti\'re Building Association Organized 1879 434 YEAR COMPLETED Assets . .+ $4,408,629.00 Surplus . . SLidiseie0 Direct Private Wires Pitsburgh Detroit Baltimore Clevela Fruit. < HOUSTON. Tex, July ¢ (Spectal).— Learn to Save BALTIMORE OFFICE “ar lots of east Texas peaches have 2 i Becun tormave Bricen havel bove Systematically 433 Equiable Dtlding satisfactory to growers. —Welcan poin Dairy Products. For You— To the man who is in- ter or visit to our custo- JonEs & BAKER Members New York Cifrb Exchange New York Chicago Boston Philadeiphia - FIRST MORTGAGES Every mortgage is less 809, of the ready market value of the property. 1. Absolute Safety. 2. Reliable Security. Behind The Helpful Service !l - —of this bank there is a wide and varied experi- *ffl ence without which such service would be im- ® possible. i Good Business —practice requires that idle dollars be quickly put to work. We suggest bank- ing your July dividends and interest cou- pons in OUR SAVINGS DEPT., where they get right on the job earning further interest, pending reinvestment. MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST 3“'/0 Paid on Savings Accounts Organized in 1814 MINNEAPOLIS, July 6 (Special).— For the first time in two years, cream prices were raised here from 12 to 13 Subseriptions for the 83d Issue of Stock Being Recetved raw product. Ice cream prices have remained unchanged. Shares, $2.50 Per Month Eleetrical Equipment. EQUITABLE BUILDING PITTSBURGH. July 6 (Special).— Prestaent Gomes o Venciueie. b | 915 F St. NW. which is causing a heavy demand for = Money to Loan ST. PAUL, July 6 (Special).—St. .“mun::‘lm e_n-,rnl estate. HEN n n scion. you invest Joseph I. Weller 2,755 ety | [l W 'ooe or moraof cur der to meet the demands o has been reflected in decided increases heavy motor wurln} ’fi."t:isl;(:-:f:n.by in mail orders for shoes from north- = First Mortgage notes y: Distribution of these shipments to | West states. 3 are l-llng‘.-l-w service stations is taxing facilities to Steel. - @ some individual or indi- the utmost. Dealers in automobile PITTSBURGH. July 6 (Special viduals who pledge a spe- accessories, hotel keepers, restaurant- [ Opinfons offered by salesmen of le: cific piecs of thelr im- ers and retail merchants, all are feel- | jng gteel companies agree there will a real estats in the ing the impuise of better business.|be no Important changes in prices Motion picture theaters, however, &re | during ourrent quarters: Lower ren ational Capital as col- becoming deserted as the patrons |freight rates have gome imto effect. ] lateral to insure the re- turn to outdoor amusements. but higher costs of fuel, due to long | § i turn of your meney at The seasonal slowing down in lum- i haul, have added to producing cos the expiration of the ber production has been intensified | Mills are practically all aceeptl :fl[men;ciinshflmst firfis I ine dpot- | business for the full third quarter, | : | e higner s This s ne | b : FIRST MORTGAGE on the higher ranges. This has ot | Ie eriarne JUsTter bookings are not The character of these affected retail merchandising through- | out the district, however. Rainless weeks in the wheat belt of the iniand empire have led authorities to predict | {fict, compared with last week, f a wheat crop totaling about 60 per 's‘;‘”;;’r’cl’:m‘?‘;‘p’é“’; e a,against | 5 SECURED BY FIRSTDEED g tiate is loaned ezly to of '60.000.000 bushels. per cent, against 90: sheet mills, 98 OF TRUST ON IMPROVED filw:;l:‘ll-i n:i.':; """ cent of last year's banner production Only favored regions will harvest | Per cent, against ¢4; Bessemer de-|E ' normal crops, although Some locali- | Partments, two, unchanged. DISTRICT OF responsibility are of the ties. where planting was late, may | DULUTH, Minn., July 6 (Special).— o highest order. benefit by rains this month. The sun. | Iron ore shipments from hesd of the COLUMBIA burned valleys of western Washing. jlake increased 2295.374 tons in Juhe ton are responsible for a heavy,re-|as compared with June, 1921, Ship- REAL ESTATE duction in the production of butter | ments last month totaled 52718,697 | & T2t and dealers have forced up the|tons. and loadings for season | PPPODODY price of milk and cream, as they are | amounted to 7,262,089 tons, June 30. compelled to feed hay and grain to their cattle instead of letting them range. From Various Sections Boston since 1902. During June, 43.- o1l 000 tons of Canadian coal were jand- 1311 H st N.w. SAN FRANCISCO, July 6 (Special).| ed in Boston. —Ofil_production in California flelds BOSTON, July 6 (Special).—The S. 000—$500—$100 S. Harlseywood of the Furness Withy sl’ 1 VOV 0000 Commodity Reports 3707 tons” of Hastings unscreen Coal and Coke. Denominations line has just finished discharging bituminous eoal at South Boston. 0 Inc is ‘the first_ Welsh coal recervea in | James M. Carter & Co., Tel. M. 657-638 UNIONTOWN, Pa., July 6 (Special). CAPITAL, SURPLUS and UNDIVIDED PROFITS, $6,022,415.70 Member American Bankers Association 3% ON SAVINGS. MAIN OFFICE | 15th St. and Penna. Ave. _ HOME SAVINGS BRANCHES: 7th and Mass. Ave. 8th and H Sts. N. E. 436 7th St. S. W. . ¢ AMERICAN ¢ SECURITY & TRUST COMPANY CONDENSED STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS JUNE 30, 1922. RESOURCES . $3,785,554.73 . 9,190,683.99 . 14,266,843.95 Cash and Due from Banks. . U. 8. Bonds and Notes and Other Securities. ...... Loans and Discount8. .....ccceieviineneances Clerks’ Pension Fund—Investment........... / 50,000.00 Customers’ Liability Account—Letters of Credit. . 121,272.39 Accrued Interest ...coeeeenceceercnsasaancnns 244,471.57 Sundry ABBetS ......... 500 senensessnnssasonsnsonns 14,814.46 Banking Houses, Furniture, Fixtures, etc., and Real Estate ~ —_— Total vovvvvunnicinnniiiieinnnnioasensnnnsess $29,349,813.56 LIABILITIES Capital SEOCK +ooveverieeiiiiiinnieienicnnnnneeereeeas $3,400,000.00 Surplus o o i e . 2,000,000.00 Undivided Profits .............. . 62241570 DISPORIES! 250 050 S ers o anie s cevees 28,067,699.43 * @lerks’ Penston Fund and Income Thereon. . 52,450.10 Reserve for Interest and Taxes ............ 95,759.42"- Letters of Credit. . A 121,272,39 Sundry Liabilities ... 216.52 Total .......... oo $29,349,813.56 YOUNGSTOWN, Ohio, July 6 The ial).—Steel ions 3 of their mortgages. cia eel operations in_this dis- | @ NOTB WAk we mege: Randal H Hagner & . National Metropolitan Bank ik e Tt Capital, Surplus & Undivided Profits Over $1,500,000.00 15th St., Opposite U. S. Treasury—108 Years Old $25,000,000 Humble Oil and Refining Company TEN YEAR 5%% GOLD DEBENTURE BONDS To be dated July 15, 1922 To mature July 15, 1932 ‘ . Interest pa-,nblc January 15 and July 15 Principal and interest payable in New York City Coupon Bonds of the denominations of $1,000, $580 and $100. Registered Bor:ds of th:z denominations of $10,000, 85,000 and $1,000. Coupon Bonds end registered Bonds, and the several denominations of each, interchangeable. Redeemable at the option of the Company, as a whole but not in part, upon sixty days’ notice, at 105% and acerued interest, on any interest date up to and including July 15, 1925, or at 102%3% and accrued snterest on any interest date thereafter prior to maturity. GUARANTY TRUST COMPANY OF NEW YORK, TRUSTEE We are advised by Walter C. Teagle, Esq., President of Standard Oil Company (New Jersey) that Standard Oil Company (New Jersey) owns, as a permanent investment, a majority of the capital stock of Humble Oil and Refining Company. Particulars regarding this issue are summarized as follows from a letter of W. S. Farish, Esq., Vice-President of Humble Oil and Refining Company: Humble Ofl and Refining Company engages in the production, tronsportation, refining and distribution of petroleum and its products. The Company’s production of crude oil in 1931 wes in ex- cess of 16,000,000 berrels. This production was derived from a relatively small part of the Company’s . acreage in Tesas, Oklahoma, Arkansas and Louisiana. At the present time the developedand producing ’ acreage is about 13,000 acres, more than 400,000 acres being as yet undeveloped. Net earnings in 1921, applicable to interest charges, before making provision for depreciation and depletion, amounted to $10,240,164, and net earnings for the first six months of 19322 indicote income for the current yeer, similorly computed, in escess of $16,000,000 applicable to interest charges of $1,375,000 on this issue of Bonds. 4 The Compony has invested more than 374,700,000 in plant and equipment. Its total assets amount tomore than $124,000,000. Neither the Compeny nor its subsidiary pipe-line company has any mortgage debt, and in the indenture under which these Bonds are to be issued, the Company will covenant not to mortgage any of its property hereafter without securing these Bonds equally and ratably with any other MM secured by such mortgage. " The Company has outstanding $25,000,000 capital stock, of which the hddlvfil by t{n officers of the Company and by Standard Qil Company (New Jersey) together constituste approsimately 80%. ‘“The stock is currently quoted at $M40 per share, indicating an equity of $60,000,000 junior to these Bonds. v The proceeds of these Bonds will be applied to the retirement of the 535,000,000 of 7%, Notes of the Company, which Notes will be called for redemption on September 18, 1923. Application for the listing of these Bonds on the New York Stock Eschangewill e made by the Company in due course. 3 ¢ .THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO ISSUE AS PLANNED, AT 00% AND INTEREST, TO YIELD 5%:% Subscription books will be opened at the office of J. P. Morgan & Co., at 10 otlock A. M., Thursday, “ . July 6, 1922. The right. is veserved to reject any and all applications and also in any case to award a smaller amount than applied for.. The-sum due on_allotments will be payable at the office of . J. P. Morgan & Co., in New York funds, when_called for on or about July 20, 1922, against delivery of trust receipts or temporary Bonds, exchangeable for definitive Bonds when prepared. Humble Oil and Refining Company Two-year % Gold Notes, due March 15, 1923, with the two un- matured coupons aftached, will be accepted in payment as 100%4% and accrued interest to date of paymens on allotments. " - ¢ J. P. MORGAN & CO.. New York, July 6, 1922 By S Sudsoriptions having Desn received (0_an ameunt én eavees. of the adove leeus, thie advertisement appéots as o matter of record only. |