Evening Star Newspaper, January 6, 1923, Page 18

FINANCIAL,' TREASURY MAY ASK * NEW BOND ISSUE War Savings Certificates | Vital Factor in Present E Funds Requirements. of the list inclined toward hour sesston of the week. throwing over of a rather Although it is officially announced at the Treasury that the goverament would not have to float a bond issue 1o take care of its matured obliga- tions, it is belleved in banking cir- cles this merely means that no offer- ing will be made immediately. With money rates easing. it is thought that by withdrawing any present offering there will be a marked improvement in the bond market and, according to bond dealers. it will be possible a lit- tie later on to float a long-term 4 per cent bond. The Treasury now has about $600.- 000,000 in cash. With this it must take care of $225,000,000 victory notes, called December 15; an uncertain por- tion of $625,000,000 war savings cer- tificates and_any part of the now re- deemablc $850.000.000 of victory notes which mature May 20. The Treasury hopes to be able to re- fund a large part of the war savings certificates, but how successful that effort will be cannot be forecast. It is-agreed that few of the uncalled victory notes will be presented for payment because they are selling in the open market at a_premium 1t seems that the number of holders of war savings certificates who de- mand cash for their investments will be a large influence in determining when the next government issue will be offered to the public. 1f & majority of the certificate hold- ers demad cish il is certain that the Treasury will have to get additional funds. if the majority accepls new savings certificates the Treasury may be able to gel along without a new Joan, until March 15, when taxcs due will be offset, more or less, by matur ing certificate obligations. Increases Its Surplus. At a board meeting last Thursday of the Kederal-American National Bank it was voted by the directors to increase the bank’s surplus $100,000. The conditicn of the bank at the close of business December 31, 1922, was $1.200,000 capital, $400.000 sur- plus and $272,000 undivided profits. The action taken now gives the in- stitution $500,000 surplus and leaves its undivided profits at $172,000. Seventh Street Bank Report. The usual 8 per cent semi-annual dividend of 4 per cent, with an addi- tional distribution of 1 per cent, was paid to shareholders of the Seventh Street Savings Bank the first of the year. At the meeting when this action { was taken a most satislzctory report of the bank business for 1322 was read. The surplus of the bank has Veen increased to $50,000. so that its statement now shows 330,000 capltal and $50.000 surplus, which places the institution on “the honor roll. Clearing House Men to Meet. The regular annual meetipg of the Washington Clearing House Associa- n will be held Wednesday, January 17, at 4 o'clock in the afternoon, ac cording to announcement made yes- tirday by Harry V. Haynes, secretary of the organization. At the meeting & chairman and sec- retary to for the ensuing year will be elected. as well as two mem- bers of the ciearing house commit- tee, whosa term of office are of two years' duration New Brokers Locate Here. With George A. Garrett, formerly tn charge of the local office of Fot- ter & Co. manager, F. B. Keech & Co...members of the New York Stock change, announced the opening sterday of their Washington branch. at 1414 H street. Mr. Garrett is well known in local financlal circles, having been in full \arge of the firm the Keech com- Wi urcecds for Several years. ¥ B. Feech is no stranger to the eity, hav- | n a great deal during the ction with his service been in existence since Fensland Ofl by NEW YORK, January York Curb Market: BONDS, Packers Ss.. o5 B Cot O 6. 00 Rolling M Co fis, 101 100% Smelt & Rof Os. 91% 01 Rep Corp 6s.... 0013 0015 Am T & T 6s '24 Anaconda Bs Auaconda Ts Armour & Co 7s. Beaverboard Ss Beaverboard 8 Reth Steel 7s 28, Low. 843 108 o4 Cit Serv 78 O... Cit ferv 7e Do ol Graph pop ctfs. . Con Gas Ralt 518 B 9914 Cons ‘Textiles 8.... 100" - 2 Detroit City Gas 6s. 101 Detrolt _Edison_6s.. 103 K C Power Lt Bs... Kennecott Cop 7s Laclede Gas 7s. bk t Cloak & Suit 34 106 Nat Acme 73s...0.. 98) hio Power G B... olvey et Cle 8. Southiwest Bell _ FORBIGN BONDS. rgentina 7s '23. of Nether 11 Swiss G, 1. 10 U S of Mexico 48 Sales. STANDARD OIL ISSUES. in units. 500 Anglo Am 0il. 15% 1200 Atlantic Lobos 7 10 Ruckeye P L ... o1y Cumberland P L. 188 Eureka P L .. 105 Gal Sig Oil 583 net 188 Imp Ol of Can. 1121, Infor Pet Co Ltd 2 Magnolia Pet Xat Transit . Prairie Ol and G Prairie P L .. Southern P L 80 Ind ex dir.. § O Kansas new. 108 0 ohio ... 10 S W Pean P L. 3000 Vacuum Oil pew. 5% 44y Salex fn hundreds, Columbia Syndicate Creole Synd . Gilliland Ol Glen Rock Ofl Granada OH ... Gulf 0il of Ty Hudson 01l 2 Kirby Pet .. 20 Lance Creek ... 27 Tatia_Amer Oil Tivingston Pet Lowry oOil Lyons Pet Sammoth Ofl Marland ... Maracaibo Oil . Merritt Ol i o B.2ERaz2. 0 1899, Land Bank Issue Clowed. The books for subscription to the $75,000,000 Federal Land Bank 4% per cent bond issue remained open o o2 BY WILLIAM F. HEFFERNAN. NEW YORK, January 6.—The curb market displayed considerable un- easiness today, with the greater part lower levels throughout the closing two- There was nothing in the outside news that could be construed as bullish, and the general disposition was to take prot accumulated earlier in the week. Thid® resulted in the large amount of commitments, and the lead- ers of the recent rise declined sharply. Announcement of the acquisition of producers and re- finers brought about active trading in the former at slightly higher levels. Fensland stockholders will be given the privilege of exchanging their holdings on the basis of 35-100 of a share of Producers and Refiners for §.—Follow- | ing Is a list of today's highest, lowest and closing prices for the most active bonds and stocks dealt in on the New INDEPENDENT OIL STOCKS. THE EVENING STAR, WASHINGTON, D. C, SATURDAY, JANUARY 6, 1923. NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office. each share of Fensland. Lyons Pe- troleum ran up sharply aud held the greater part of its gain. Th is of exchange for this company will be at the rate of fifty shar Lyoms for -each share of Producers and Refiners. Gulf Oil of Pennsylvania and Mam moth Oil were strong spots among the ‘oll group and ran up almost 2 points, but subsequently reacted from their highs with the rest of the list. Realizing sales brought about de- clines in the Durant issues, and Cleve- land Motors common and preferred slipped off fractionally. Phoenix Ho- siery continued in good demand at higher prices. The new Fleischmann stock opened where it had left off Friday, selling up to 33%. Then heavy prafit-taking* set_in. and the stock sold off a point. Still, the large over- subscription—the average applicant received only about 12 per cent of what he had subscribed for—contin- ued to make a good impression. 15 Mex Oil 2 Mount P Mount_ Guif % Mutnal OIL : w Eng Fuel Ol ew Mex Land ... Noble Ol & G Omar 01l & Pennock OIl Ryan Con . Salt Creek Cons Balt Creek new ... Sapulpa Refin ... Seaboard OIl . Bimms Pet = Southern P & R.I. . 5 South States 031 9 Texon Ol & Lan Turman Oi ... Wilcox 01l & Ga agsa Bisttaes PELFERR bk Fr Acme Co Acme Pack . Alum Mg ptd S5 Amal Leather ... Armour & Co Del pt Atiantic Frolt ... Rkizn City R It Buddy Buds ... . amphell Soup pid. Cent Teresa ...... Cheseborough M. . Chicago Nipple Cleveland Motor. Cleveland Columbun Ry Cox Cash Stares S DL & W Coal Dubilier € & Tadio Durant’ Motor . Durant Mot of Tnd Federal Telegraph.. Fleischman 0o Gillette 8 R 5 Hudson Co pfd 2 Ind Fibre Corp of A Tnter Cont Rubber. Mariin Fire Arms.. N Y. Tele Copfd. . Oselda Corp . 13 Todd Ship . G Uait P(t Shar new West End Chem... . 2 Winthers Motor & Towne new Globe Copper. MINING Am Command Min . Moot Corp. 3 old Bureka Croesis Fortuna Mines Goldtield Hill Top Tron Mlossom Maxon Val ... Mines National Tin Dominion Cop. pissing . 3 hio Cop . tay Hereuies Ine ond Copper Tonopah Extens.... Tono Midway 2 Tonopah Min Tnited Eastern 1 1 Yukon G TNV TS 0FS370 00 DO NEREE Eth only one hour, when announcement { \as made by Alexander Brown & Sons, bankers, that the entire issue had been subscribed and.the books At were closed. $1.000 at 98% AFTER CALL. ~$1,000 at 90 155—31,000 at_105. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY Georgrtown Washlogton $1.000 at 98 Capital Traction—5 at 1021 shington Gas 55—3$300 at 96, SACRAMENTO, January 6.—Ten per cent of the California rice crop, amounting to 400,000 bags of 100! pounds each, may not be harvested | this year beeause of high waters and | heavy rains in the rice districts. Av- erage production last year was thirty- five bags to the acre, and growers hope to receive $2.30 a bag. BONDS Bid and Asked Prices. PUBLIC UTILITY. Bld. American Tel. & Telga. 4s. 9134 & Telge. 414 0143 9% 37 88 ¥y . & P. 94 Capital Traction R. R. City and Suburban b Georgetown Gas 1st Metropolitan R. R. 3s. . 1st Bs. NEW ORLEANS, January S—Hea\ya sales of white goods at the sales now under way are attributed generally to the belief that higher prices for cot- ton goods, in conformity with higher prices for the raw staple, may be ex pected shortiy. PHILADELPHIA, January 6. holiday sale of rugs and carpets was very heavy and local manufacturers! now are rushed with orders to re- plenish depleted stocks of retallers who have cleared their storerooms. Potomac Potomac Blec. deb. 6s. Potomac Elec. Pow. g. m. 8. ot. Elec. Pow. g m, & ref. 7 Alex. & Mt. Vernon 5 Alex. & Mt Vernon ctf. MISCE! . C. Paper Mfz. 6s. Ity s (long). ity 58 _(alior! See. Storage and Safe Dep. 6. Wash. Market Cold torage ba. ardman Park Hotel s. STOCKS PUBLIC UTILITY. CHICAGO, January 6.—The slilht‘ let-up in the buying of coal, apparent today. is attributed by dealers to the taking of inventories in many indus- tries, which has interfered with pro- duction. Some industries are already making ipquiries concerning coal for storage. MINNEAPOLIS, January 6.—De- creased acreage, better marketing ar- rangements and increased storage fa- cilities are planned by northwestern potato growers for this yedr. Last year heavy losses were si ined by growers in Minnesota, North Dakota, Michigan, Nebraska and Kansas, where crops aggregated 100,000,000 bushels. PORTLAND, Ore, January 6.—Lo- cally there is'a good demand here for red apples today and prices are some- what steadler,” but the Spitzenburg season is drawing to a close and stocks must be moved quickly to save them. JOPLIN, Mo., nuary 6.—The tri- state |ead and zinc fleld shipped the jargest tonnage of lead ore in it history in 1922 and the second larges output of zinc ore. The value of the output was $25,787.307. SAN FRANCISCO, January 6.—Lum- ber mills on the Pacific coast will start the second week of the new vear with unfilled domestic orders for 157,291,317 feet and unfilled foreign orders for 70,132,886 feet. New busl. ness is running 14 per cent above mill production, with Australia and South America in the market for large quantities. —_—— DIVIDENDS. Stockof Pa Record, able. ¥eb. 15 Jab. 31 q., 3% Feb. 1 Tarriman Nat. Bank ex 5%. 4 Jan. B Harrimsn Nat. Baok, s-4., %Jen. 4 Jan. 5 Tublie Service Co. of N. Hili- nols, a., 1%% .Jan. 15 Feb. 1 Public Service Oo, of N o .Jan. 15 Feb. 1 Capital ... Columbla. Commercial ers Federal-American .. Liberty Lincoln jon Tru Wach. Town and Trast SAVINGS BANK. Commerce and Savings. East Washiugton. . rity Sav. and i‘:‘ T"!‘H.un 1 tate ool umbia Gre; Golumbia Graphopone prd. Merchants' Transfer dnd St Me thaler Linotype.. o tch Market com.. 0ld Dutch Market prd. Lanston Monotyoe Wekhingtos Market.. Yellow Cab..:ovoon G 142% L. *Ex-divident Washington Stock Exchange Potomac_Electric cons, 55—$1,000 at 96 Mergenthaler Linotype—3 at 176, 10 at 1 Chesupenke & Potomac Tel. 55—3$1.000 at 98, | Potomac_Electric 1st G5—$4,000 at 97. Potomac Electric 1st 55—$2,000 at 97%. 2% | agreement. The new plan was adopt- ki i President of Standard 0il Com- | pany in Indiana Refuses to | Deny or Affirm. By the Associatet] Press. CHICAGO, January ton, 6.—W. M. Bur- president of the Standard Ol Company of Indiana, today refused to afirm or deny that a merger of his company with the Gulf Oil Corpora- tion had been effected. Statements of either character, he said, must come from Col. Robert W. Stéwart, chairman of the board, now on a trip in eastern cities. E. G. Seubert. secretary-treasurer, denied all knowledge of the trans- actlon, but admitted such negotia- | tions might have been under eration by Col. Stewart i ankers say the merger, if -1 pleted, would be one of the llrc;:;x“ business deals on record. The two | companies have a bl - satlon of 5370.000,000, " o cepitall e Gulf Ol Corporation re v i increased its capitallsation from $ou.. 000,000 to $125,000,000 and reduced the Ig‘l“l:elvalne of s)}u,flres from $100 to $25. ve new share: Twelve mew shares were traded for NEW LABOR UNION PUTS | NO LIMIT ON PRODUCTION Increase in Output Brings Larger Pay to Railway Shopmen. By the Associated Press, e CHICAGO, January 6.—, poration, said to hey the Aflrl:lh?)‘:' co;: ization of its kind, has been (or'I:ed by former labor union members in (!’\e locomotive shops of the Cleveland, Cincinnati, Chicago and St. Louls rail- way at Beech Grove, Ind,, according to an article in the Rallway Re'llal'.] g on the basis of ! in the new organization, ki the *Assocation Employes of Heeoh i Grove, Inc. The labor corporation is| j incorporated under the laws of Indi- , 18 not or profit a 1,800 members. HE BeRabONy nstead of limiting the day’s o per man, the primary Idea of the. new | organization is to increase the daily output of individuals and thus in- | crease thelr earning power. Accord- ing to the Rallway Review, operation of the new plan has increased shop | production about 25 per cent in three | months, using a smaller working force, the same equipment and the same supervisory staff. while wages of employes have been incr above the scale authorized by the Railroad Labor Board, and production costs have been reduced. Under the plan, operations are ca: ried on as far as possible under in- dividual subcontracts, _constituting ++ |2 system of group bargaining, the unit of output instead of the unit of time Qeing the basis of compensation, the unit schedules for various kinds of work being the subject for mutual ed after a long series of labor dl putes at the shops which finally re- sulted in the shop work being con tracted out by the railroad the Railway Service and Supply Corpora- tion. Twelve rules have been sub- stituted for the 186 Raillroad Babor 1 Board regulations governing work. 2, REPORT OF THE CONDITION . OF THE UNITED STATES SAVINGS BANK, At Washington, in the District of Columbia, at the close of business December 20, 1022. RESOURCES. a foreign _bills *of ange or old with indorsement _of this bank (e3- copt those shown, in b and c)....$1,216,034.63 $1,216,034.63 603.27 630,333.05 82,176.86 178,022.81 Total Toa 5 2. Overdrafis, secored. $369.00 unsecured, $24.37 . Other bonds, ties, ete. Banking house. nd fixtures, $7.17 1) . Awount due from state bai Lankers and trust comp nies In the Vnited States (other than included In jtem 9 or 10). slde’ of clty oF town of re- ot bask and other cash tems : 50.00 Total $2,209,145.68 LIABILITIES. Capital stock paid ia. Surplus fond ... “ndivided profits b Reserved for de- preciation $100,000.00 ©"100,000.00 60 9,803.54 50,474.44 © Less current ex- peuses. intereat and tazes paid. 3 . Amount due to national Awount due to state ban bankers and trust the United included in items titied 5 outstandigi outstun 20, 21 bauk deposits). (Deposits payable within 30 dass) Individual deposits subject to o8 of deposit due in other than Dividends . Other dem; Total of demund (other than bank Time “deposits { 30 days, br subject Qays' o wore notice) and postal savings Comtiticates of deposit (other Thau for 3 borrowed) .. 33. Other time deposit. . S time deposite, items $1.830,505.32 District_of Columbla 5 . DE e vowledge and belief. WM. R. DE LASHMUTT, Cashier. Subserited and sworn to before me this 4th day_of Jauusry, 1923, iSeal ) F. MORGAN COOK, Notary Public. Correct—Attest: WADE H. COOPER, WAL . BARRY. WILBUR H. ZEPP, WAL T W. ANDERSON. CHAS. A GOLDSMITH, WAL R DE LASHMUTT, Directars. The Bond Record of 1922 have We had prepared a | comprehensive record contain- ing price range, tax status, denominations, sales, maturity and interest dates, call price, quotation, last sale, income value and yields of all bonds listed on New York Stock Ex- change. A limited number of these records are now ready for distribution. A copy will be sent free upon request Henderson-Winder Co. 917 Southern Building Correspondents of Lee Higginson & Co. Boaton, Chicago, New York Money to Loan Secured by first deed of trust on real Prevailing inter Joseph I. Weller § T vide. Send List of Your Holdings for Advice 204 Continental Trust Bldg. Main 5956 C. G. FOX, Dist. Mgr. Let us manage your Rental Prop- erty. Over a Quar- ter of a Century Experience. B. F. SAUL CO. 1412 Eye St. NW. EQUITABLE Co-Operative Building - Association Organized 1879 43d YBEAR COMPLETED Assets ..... Surplus .. e 3 : Systematic Saving Your chance to succeed is here. If you will but take ad- vantage of our plan to save & 1ittle each pay day, you will find that it is easy to save, Subscriptions for the 84th Issue of Stock Belng Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Seey. - .$4,408,629.00 LlsL144.40009 District of Columbia. s | 1, V. B. DEYBER, president of the above-named bank. do solemnly swear ige and belief, V. B. DEYBER, President. REPORT OF CONDITION « Of the SECOND NATIONAL BANK At December 29, 1922, RESOURCES. & Loans and discounts, including redlscounts, acceptances of other banks and foreign bills of exchange or drafts sold with indorsement of this bank (except those shown in . Overdrafts, unsecure sone U. 8. government securities owned: a Deposited to secure circulation (U. 8. bonds, par value) . .. $500,000.00 b All other United States government securitier (including premiums, if any). Total 5. Other bonds. se 6. Banking house, $200,000; 8. Lawful reserve with federal reserve bank 9. Ttems with federal reserve bank in process of collection. 10, Cash in vault and amount due from national banks 11. Amount due from state banks, bankers and trust in the United States (other than included in and 10) ... e tocr Fxchanges for clearing hous. . s i Checks on other banks in the same city or town as reporting bank (other than item 12) - Total of Items 9, 10, 11, 12 and 13. e . @ Checks and drafts on banks (including federal reserve bank) located outside of city or town of reporting bank E . b Miscellaneous: cash with U 719,413, nd fixtures, $26,447.68. .0 panies items 8, 9 12, 13 9.193.60 11,448.16 15, n U. S 16. Redemption fund treasurer Other assets treasurer and due fre Total . Capital stock paid in. . Undivided profits ........... . i a Reserved for Interest and taxes ac- . ¢ Less current expenses, interest and taxes paid . Circulating notes outstanding. . Amount due to federal reserve bank in the United States and foreign cluded in items 21 or 22)........ Certified checks outstanding. . Cashier's checks outstanding. 3 SN K Total of items 21, 23, 23, d 2 $351.211.53 Demand deposits (other than bank deposits) subject to re- serve (deposits payable within 30 days): Individual deposits subject to check . Certificates of deposit due in less than 30 days for money borrowed)..... e s v . Dividends unpaid 195 Total of demand deposits (other than bank de- posits) subject to reserve, jtems 26, 27, 28, 29, 30 and 31 e 82,410,411.66 Time deposits subject to reserve (payable atter 30 days, or subject to 30 days' or more notice, and postal savings) . Other time deposits pagripiveys . Postal savings deposits ... 3 Total of time deposits subject to 32, 33, 34 and 35......... .$1,368.370.34 United States deposits (other than postal savings), 'including war loan deposit account and deposits of United States dis- bursing officers e . Bills payable (including all obligations representing money borrowed other than rediscounts)........... s . Liabilities other than those above stated. reserve, items Total ... S oo that the above statement is true to the best of my knowl Subscribed and sworn to before me this 3d day of Jaunuary, 1923 (Seal.) ‘WM. §. TORBERT, Notary Publie, D. C. Correct—Att CUNO H. RUDOLPH. WALTER H. KLOPFER, OHN W. HULSE, SAMUEL J. PRESCOTT, J. SACK W. V. 00X, V. B. DEYRER. . M. EMMERICH RANK S. HIGHT, JOHN C. ECKLOFF. ALEXANDER WO B. F. COLLADA F. W. MACKENZIE, JACOB SCHAR Directors, VEST WHETHER you have $100, $500, $1,000 or more to invest, investi- gate our First Mortgage Loans on Wash- ington Homes before placing your funds. NEVER A LOSS Our conservative business methods have so perfectly protected and safe- guarded the funds of our investors that not a single client has ever lost a dollar of principal or interest on any invest- ment purchased through us. Send for Selected List We will be pleased to send you full information concerning our first mort- gages and our methods of handling them. 615% and 7% Interest Convenient Denominations Call, Phone or Write for It WILLIAM S. PHILLIPS First Mortgage Investments 1409 New York Ave: Main 4600 ON FIRST MORTGAGES AT CURRENT RATES OF GILTEDGE SECURITI First Mortgage Notes Secured on Improved D. C. Real Estate | Appraised by Experts of 35 Years’ Experience Without a Loss Offered in Denominations of $250 and Up A Good Investment. WILL PURCHASE First and Second Trust Notes ‘Warehouse Receipts, and Make Construction Loans 811 Vermont Avenue N.W. e Sere -$3,115,499. 2.742.41 1863.30 16,540.89 20.841.76 | 25,000.00 1,04 .$5,810,480.85 2,376,903.56 33,496.10 80,700.00 200,000.00 816, $5,810,480.88 cesenns PR $500,000.00 | 20. Surplus fund ... S ¥ ceeeveseses 375,000.00 FINANCIAL. REPORT OF CONDITION . Of the NATIONAL METROPOLITAN BANK : ‘Washington, in the District of Columbia. at the closc of business on {At Washington, in the District of Columbis, st the close of business on December 29, 1922. RESCURCES. a Loans and discounts 3 . Overdrafts, secured, $402.81; unsecured, $4,854.01 U. S. government. securities owned: = Deposited to secure circulation (U. 8. bonds, par value) .... £ b All other United States government securities (including premiums, if any).. . $800,000.00 505,400.00 Total . Other bonds, stocks, securities, etc. ... . Banking hoi . Lawful res . Items with federal res e, $518,180.11; furniture and fixture; rve with federal reserve bank rve bank in proces; Cash in vault and amount due from national banks. . Amount due from state banks, bankers and trust companfes in the United States (other than included initems 8,9 and 10) . Exchanges for clearing house . Checks on other banks In the same city or town as reporting . b Misc . Redemption fund with U. . Other assets . Capital stock . Surplus fund ... . Undivided profits. . Amount due to stute banks, bankers and trust companies . Cushier's checks . Individual deposits subject to check.. . Certificates of depoeit due in . Dividends bank (other than item 12) Total of items 9, 10, 11, 12 llaneous cash items Sevons . 8. treasurer and due from U. '$3,688,024.13 treasurer 40,000.00 20,608.00 $15.748,559.94 $800.000.00 540,000.00 4. Reserved for accrued © Less current cxpenses, interest and tax Circulating notes outstanding. . Sab Amount due to tederal reserve bank (deferred credits). Amount due to national banks. .. in the United States and foreign countries (other thap in- cluded in items 21 OF 22).....0..uens Sl Certified checks outstanding out: : : Total of jtem ... 31,051,767.92 Demand deposits (other than bank deposits) subject to re- serve (deposits payable within 30 days) > i 9,829,399.0 less than 30 days for money borrowed). e el unpalid. . . pd : o Total of demand deposits (other than bank deposits) subject lo reserve, items 26, ANANB0- Zoi e $9.838,505.01 Time deposits subject to reserve (payable after 30 days, or subject to 30 days’ or more notice, und postal savings): Certificates of deposit (other than for money borrowed). 8.815.00 291.00 . Other time deposits. . Postal savings deposi . United States deposits (other than postal savings), including 41. Letters of credit and travele 4. District_of Columbi "to ‘reserve, . $2.28 of time deposits su 2, 34 and 35... Total items 39 ‘war loan deposit account and deposits of United States ! bursing officers % iy h and out- standing G 5 2 Liabilities other than those above stited. §8,262.60 Total T N $15,748,559.91 city of Washington, ss. 1, C. ¥. JACOBSEN, cashier of the above-named bank, do solemnly swea - that the above statement is true to the best of my knowledge and beliet (Seal.) . Overdrafts. unsecured, $1 C. F. JACOBSEN, Cashler. Subscrbied ,and sworn to before me this 5th day of January, 1923. ROBERT E. BRIGGS, Notary Public. A. LISNER, CHARLES JACOBSEN, . F. R. OGILBY, Correct—Attest: GEO. W. WHITE, Directors. REPORT OF CONDITIO! COLUMBIA NATIONAL BANK Washington, in the District of Columbla, at the close of business o Decemben 29, 19 RESOURCES. 2 nd discounts, including rediscounts, ac- ceptances of other banks, and forelgn bills of exchange or drafts sold with indorsement of this bank (except those shown in b and c). Total loans.. - 39 . U. 8. government securitied owne . Other bonds, stocks, securities, etc. . . Banking house . Lawful res a Deposited to secure circulation (U. 8. bonds, par Vatue) ..... - Lo $250,000.00 b All other United States government fecurities (including premiums, if any) 2 Total 467,607.40 §73.336.00; furniture and fixtures with federal reserve bank . . Cash in vault and amount due from nation; 8 12. 13. 14. 6. . Undivided profits Amount due from state banks, bankers and trust com the United States (other than included in items 8, 9 Exchanges for clearing house. e ——— Checks on other banks in the same city or town as reporting bank (other than item 12).. $395,223.08 Total of items 9, 10, 11, 12 and 8. treasurer and due from U. 8. e b Miscellaneous cash items. Redemption fund with U. treasurer Capital stock paid in. rplus fund 8 sz . $128,0 a Reserved for interest and taxes ac- . 2.000.00 ¢ Less current expenses, interest and taxes paid.. . Circulating notes outstanding Amount due to national banks. ... . Amount due to state banks, banker . Individual . Dividends unpald...... the United States and foreign coun rluded in items 21 or 22)...... fied checks standing. . s outstanding..... Total of ftems 21. 22, 23. 24 and 25...... . $236,973.61 Demand deposits (other than bank deposits) subject to re- serve (deposits payable wit 30 days) Jeposits SUbJECt 10 CROCK. .. w\e. .\ et ieesieoeie.s Certificates of deposit due in less than thirty days (other than for money horrowed)........ ceenenas . oo 3,805.00 e 5 S 330.00 Total of demand deposits (other than bank de- posits) subject to reserve, items 26, 27, 28, 29, SO0 mnd BLoi s e es s .$2,095, Time deposits subject to reserve (payable after 30 day: subject to 30 days' or more notice. and postal savings. 3 Certificates of deposit (other than for money borrowed) 34.Other time deposits. : efs 3% District of Columbia, & Postal savings deposits. Total of time deposits 32, 33, 34 and 35 bject to reserv Total ... $3,761,62. 1. FRANK J. STRYKER, cashier of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. FRANK J. STRYKER, Cashier. orn to before me this 4th day of January, 1923 HERBERT A. POOLE, Notary Public. BENJAMIN W. GUY, JAMES A. MESSER, JOHN H. MILLER, THEODORE W. NOYES, B. FRANCIS SAUL. JOHN N. SWARTZELL, Directors. ubscribed and JAMES E. AMENT, . CLARENCE DUVALL, JOHN JOY EDSON, L. WHITING ESTES, C. FENTON FADELEY, ALBERT F. FOX, The Standard Investment MANY financiers havé repeatedly stat- ed that if they were limited to a single choice of investments that choice would be First Mortgage Notes. This is a financial truth that will bear engraving deep in the minds of all—the son at college, the daughter going to the altar, and the wife when you are cheos- ing a sound investment for the family nest-egg. The First Mor{gage Notes we offer are safeguarded by the judgment and integrity of a company of over 53 years’ experience in the investment field. 53 Years Without Less to an Investo Swartzell Rheem&Hensey 727 15 Street NW.