Evening Star Newspaper, January 24, 1923, Page 23

FINA §11.234,126 MADE BY WESTERN UNION Net Income Equal to $11.25 Per Share—Trust Company | Officers to Confer. Tn 1922, with December estimated. the Western Union Telegraph Com-! pany showed a net income of $11 234,126, after charges and taxes, equal 10 $11.25 a share on the $99.786, capltal stock, compared with $9,633.- . 808, or $9.65 a share, in 1921, and $12.33 in 1920. - The report shows the company’s Snherent earning power and ability ! 1o reflect any improvement in gen-| eral business throughout the coun-: try. Earnings over the last three| vears indicate that the company has| little_reactlon to depressions. The telegraph has become an integral part of the country's business, and sn_varfous lines of industry where it was formerly little used it has Fe- come a necessity. Tn 1922 the company did a grosk busi- nass of $107,031.000, us compared with $105.225.074 the previous year, and $122,- 473,685 in 1820, The 1922 business was accomplished with $74,165,446 charged in taxes and expenses against $76,331.294 1he previous year. Thus, while gross business was $1.803,535 'greater, ex- penses were actually $2.166.848 less, Without reduction in wages. The 1922 report includes two new de- ductions—employes' income _participa- tion and a charge of $2.000,000 for cable development. Preston Vice President. At a special meeting of the hoard of directors of the Washington Gas Light Company yesterday Ord Preston was elected vice president of the company. Mr. Preston has for many years been a resident of Washingion. and since 1910 a member of the board of directors of the gas company, repre- senting not only his own interests, but those of the Pacificus Ord estate. Me is also a director of the Tnion Trust Company of this city, the Se- | curity, Storage and Safe Deposit Com- | pany” of Norfolk, Va., and of the Se- curity Storuge Compiny of Richmond. | a Owing to the illness of Howard S.! Teeside. who has been ordered awa from the city by his physiclan, Mr. Treston will be the acting president for the time being. H Thomson to Lecture. Eliot H. Thomson of the Washing- ton Loan and Trust Company will lec- 1ure and hold a quiz on “Carriers and Eills of Lading.” before members of | * the commerclal law class, Washing- ton Chapter, American Institute of | Banking, tomorrow night. The beginning of the series of talks | on “Negotiable Instruments.” by aymond B. Dickey, which was re- morted in The Star to start tomor- vow night, wil not begin until Thurs- | day night, February 1. 1 Merger Teatimony Suspend, | Testimony before the Interstate | Commerce ~Commission on possible | mergers of western railroad systems which may result from the plan of | the government for general railroad | +onsolidations was suspended t~mpo- | varily yesterday, but will be renewed | (on datds and “at places which the | vommisslon will announce later. i Hale Holden. president of the Chi- .ago. Burlington and Quiney, and .. . “Gorman, president of the Chicago, Itock Island and Pacific, were among 1h~ witnesses heard at the final scs- on. New Vault Nearly Completed. The new safe deposit vault of the Potomac Savings Bank, which has been under construction for the past year, will be completed and ready for use February 15, bullders of same have assured the officials of the bank. The vault, which {e said to be one of the most handsome and strongest in the city, Is sixteen feet square on the finside, having 1,500 boxes, with sion being made for an addl- 0. if needed. The walls of t are three feet thick. with pounds of interlc mng stee] reinforcements. In all, the vault is inclosed by four steel wails. presenting the most modern devices used {n comating fire, theftf, etc. It} is located on the ground floor «f the institution at the north end. { \ Trust Companies to Meet. | Officers of the Washington trust companies are planning to attend the | fourth midwinter conference of lrus!j companies. to be held under the aus Pices of the trust company division of the American Bankers' Assoclation | ar the Waldorf- oria, New York,! Fobruary 15. { The purpose of the conference is| stated to be to afford an opportunity ! o consider several definite phases of | trust company business, to secure and | zive help to problems more or less | Common to all corporate flduclaries { and to make the personal acquaint- ance of officers and department heads actually directing or operating vari- ous trust company activities. Rumpus Howling Success. So great was the demand for coples of the Saturday Night Rumpus, the snappy magazine edited by Thom- as W. Brahany and his corps of as- sistants for the joint dinner of the District bankers and Stock Exchange members that offers of $5 a copy were freely being made in the financial dis- irict today. Extra coples had all been gobbled up in a hurried fashion after those unable to attend the banquet had fieard of their contents, and Eugene Thompson immedlately ~ telephoned I'rank Hight, manager of the Willard, io please ask cleaners to save any ‘derelicts” that might be found in the sweeping: Washington Stock Exchange BALES. pital Traction 5s—&500 at 975 3:-:.0»;\“ Rwy. & Elec. com.—10 at 69%. | D, 10 at 6914 Ington Gas Light—10 7%, 10 at 57%, 10 st 571, 10 Lanston Movotype—10 af AFTER CALL. Capitsl Traction Bs—81.000 at 97%. $1,000 at Washington Rwy. & Elec. 45—$10,000 at " Movey—Call loans, 5 and 8 per cent. i Amer. Tel. & Tel; Amer. Tel. & Telga 4 Al & T el Am. Tel. & Tel. Al stia Anacortis ohd potor i 88 Chamseike aa & P el of ; | 1;eorgetown Gas 1st Metropoltan R. R. Potomae Elec. st 58 .. Elec, cons. bw Blec. gob. ... .0 Potomac Elec. Pow. g. m. 6s.. Pot. Elec. Pow. g. m_& ref. frein Wash. Bwy. & Elec. g. m. 6. MISCELLANEOUS. D. 0, Paper Mfg. s.. Riggs meatty Sa Coni): Riggs Reaity Bs (short). aak Sk o o B ‘Wardman Park Hotel STOCKS PUBLIO UTILITY. xi com Taxi ptd . NATIONAL BANE. "ermis Srerminal Capital NCIAL. THE EVENING NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office. BY WILLIAM F. HEFFERNAN. NEW YORK, January 24.—Interest on the curb exchange during the greater part of the session today con- tinued to center in the Durant ls- sues, as was natural following yes- terday's sensational happenings. The Delaware stock opened at 69%, down a point, and dropped off to 681 Then followed a recovery which car- ried it back to 72. The Indla shares closely followed that fluctation in the Delaware stock. When it became evident that the !support was not as effective as had been figured on a fresh selling move- ment set in, under which the Durants broke again sharply. Hayes Wheel failed to make up its loss of the -previous day and heid around its closing prices, while Stutz acted in a like manner. Goodyear issues were features in 1he —Follow NEW YORK, January t, lowest ing is a list of today's hig jand 2:45 prices for the most active bonds and stocks dealt in on the New York Curb Market: BONDS. Tigh. 1067, 1015 103% Sales in thousands. 1 Alum 7a new 3 Am T & T fa 14 Anaconda 6 # Ansconda Tx 2 “Anglo-Am 011 27 Armour & Co 1 Atlan G & W I 305 Beth Steel 7x ' @ Tieth Stcel 7s '35 3 Can Nat Ry Eq - n Pac Gs.. Cent Steel 85 . Con Gas Ralto Ts. 5 Con Gan 2 Deere & Co 7 Detroft Citr G Tow. 1057, 1015 Grand Trunk 61, alf Ol 7x . t Ol of Pa N & L 7s x Win Ley R E Loutsy G & E 38.. 3 Manitoba Prod 7a L Y Chgo St.'1 6 ¢ 3 Pub Serv of 2 8 Bhawsheen i 6 Shefeld Farms 6igs TSONT IS 10 8 5 ¥ 280N Y 7w '3 Solvey et Cle & Southwest Bell Sun O] 75 Swift & Co 5a . 2 Unit 01l Prod 8 5 Unit Ry of Tar 2 Vacuum Off 7s FOREL 3 Argentina 7s 1300 Hamburg $izs 30 King of Neth'ds & Mexican Govt 6s.... Republic of Peru 85 Rus Gov cfs i, 18 Swiss Gov 5igs. 1035, 2T S of Mex 4s. 3 Sales STANDARD OIL ISSUES, in unite, 13 0P . 50 Imp Oil of Can 2100 Inier Pet Co Lid.. 1 A 2 Transit ol & 5 Plpe L 50 Bouthern P L 18500 & O Tnd 600 8 0 Ky 2100 8 O 10 8 0 Ohio ... 10 8 W Penn P'L L 2000 Vaccum Ol new... 434 44 NDENT OIL STOCKS. s 353an 130 Creole Brynd . 1 Equity Pet pf 170 Engioeers Pet 8 Federsi OI . " Gilliland 0l 38 Glen Rock 0il 7 Giranada Oil ....... 33 Gult Ol of Pa 100 Keytone Haog 5 Kirby Pet .. 30 Lapce Creek . 2 Latin Amer Ol 57 Lyons Pet . 13 Mammoth 00 d .. & Maracaibo Oil 3 Margay 0l Merritt O1) . 2 Mex Ol .. 60 Midwest-Tex Ol 4 Mountain Producers. sewBE T 20 Red Baok Of 13 Salt Creek cons 3 Nalt Creek new . 9 Kapulpa Refln 20 Neaboard Gil . Simma Pet - 910 Southern I & 23 Sou States 01 145 Tex Ofl & Tan 24 Turman 01l 217 Wilcox 01l & & "I oil. INDUSTRIALS. 33 Acme Coal.. 3 0 Acme Pack. Brit-Am Tob Co cou Buddy Buds ... 5 Century Ribhon Mill 1% Chicago Nipple - 34 Colorado Pow & Lt 41 Cox Cash Stores 30 Cuban Dom' Su 1 Daries WA . 33D L& W Coni 3 Duvilter € & Radio. 131 Durant Mot ... - 40 Durant Mot of Tnd. ‘D Federal Telegraph.. T Gardner Mot 5. 3 Gillette Safety lon Alden Coal oodyear Tiro - 22 Goodyear Tire prd. 28 Goodyear Tire pr pf T Great West 8 new 1 Great Weat Sug bf 18 Hayes Wheel -.0» 5 Heyden Chemic 3 Hudson Co pfd - 4 Lake Tor Boat pf 33 Lenigh Val Coal T Liees Mex ZABEERS D FF PR RaALEHE *EE o5 e ™ S 1 28, ERE O 11 Mercer Motor z 39 Mercer Mot vot cfs 4 Mesabi Trop ...... 3 New Fletion Pub Co 5 Phoenix Hoslery .. Prima Radio Co 53 Radio Corp .. 10 Radio Corp pfd 4 Repetti Candy 1080 C&1I. 3 Stuts Mo 3 Techalcal Prod..... 2 Timken Axle new. 1 Todd Ship .. & Unit Retall ‘Candy.. United Pft 8I Bz B2 150 & FE S P 1 w8 aaadSalil. 3 Willys Corp MINING. 50 Aot Commander M 110 Big Ledge . 5 10 Bison Gold 5 Canario Copper 310 Candelaria_3in 110 Columbla Emeraid. 20 Combination Factlol 1 Cons Cop Mi tem cf 3% 10 Cork Province Mine 15 227 Cortez Silver ...... 1 i Farmers and Mechanics" Federal-American Becond Washingtos . TRUST COMPANY. American Security & Trus Contineatal Trust Merchants® Nationsl Bavings aod Trust Union Trust .. 2 Washington Loan and Trust. BAVINGS BANE. Collm&mml!\‘d‘ BI\:.D 8. East Washington ngs Security Sav. and Com. oited staven.. I . = Washington Mechanics. FIRE INSURANCE. Firemen’ National Unioo. Columbia Graphophone com.. 25 Columbla Graphophons pfd. 11 Merchants’ Transfer and Btorage 100 Mergenthaler Linotype - 178 0ld Dutéh Market com. . 0ld Dutch Market pfd. Tanston Monotype Security Storage. Washinzton Mi Yellow Cab. i k{ i first half session, the preferred reach- Ing a mew high record, but subse- quently reacting, while the prior pre- ferred gained a half pomnt. Goodyear common also went slightly higher. At their meeting Tuesday Goodyear directors authorized retire- ment of $9.902,500 of the prior prefer- ence stock, leaving a total amount outstanding of $20.000,000. Provision was also authorized for the sinking fund of $2,500.000 for Goodyear de- bentures on March 15. Standard Oll issues appeared heavy in sympathy with the movement of the oll group on the stock exchange. Professtonal operations were re- sponsible for reaction in Cox Cnnlx’ Stores, ch broke over a point. A block of 1,000 Amercan Briusn T bacco coupon chanzed hards At fra tional advan®e. Fortuna Mining fea- tured the mining section with a sharp break of almost 80 polnts. 110 Grown Rteserve 1200 ~BLE2345%, ol Ha Hill Top Nevad: Howe Sound Independence i Tron Rlossom 2 1 Lesons Tom ew Jersey Zine. ew York Poreu.. evada Ophir . Nevada Sfiver Hoin Nipiasing . Ohio Copper Tay Hercules g Red Hill Florence. . | Rex Cons 3 i Richmond Copper . Sundatorm_Kendall. Bilver O Min Corp. | Silver Mines of Am 2 Success Mines 2 . ! sperstition M 7 Teck Hughes . 1 Tonopah Divide ... | 3 Tonorah Exten . Tanopah Midway .. Tonopai) Min Trinlty Ce N 1l U S Continental 20 1 11 Weat End Consol 20 White o 10 Wilbert ... 5 T | DRAFT COPYRIGHT LAW. | Printers and Authors to Propose Revision to Congress. | | NEW YORK, January ns for revision of the United States copy- | right law to permit this cduntry to| [join the International Copyright! Union have been completed at a con- {ference here of the International | | Printing Trades Unlon and the| Authors’ League of America and its| various guilds, it was announced to- ' da i Changes in the law Have been em- ! Ibodied in a bill which shortly will be presented to Congress, it was sald The new draft already has been sent | {to the International Union in Bern, | Switzerland, it was said. | BUYS OUT DISTEEL WHEELS. CHICAGO, January 24.—The Motor | Wheel Corporation of Lansing. Mich. | manufacturers of wooden wheels for | automobiles as purchased from the i Detroit Preesed Steel Corporation of Detroit, the trade mark, physical as- sets and good will of Disteel wheels, | it is announced. The Mofar Wheel Corporation also manufactures Tuarc steel wheel RUBBER MEN ON TOUR. NEW YORK. January 24.—The dele- gation representing the British rub- ber industry, here to survey American demands and to fix pric has_left New York to inspect plants in Tren- ton, N. J.; Akron, Ohio. and other! rubber centers. Conference with American manufacturers will be re- | sumed on its return. BAR SILVER PRICES. LONDON, January 24.—Bar silver, 3211-16 pence per ounce. Money. 1%y per cent. Discount rates, short bills. 2 per cent: three-month bills, 2}3a 23-16 per cent i NEW YORK, January bar silver, 67%4: Mexican dollars 1% 4 9' 24 —Foreign 1%. LOFT SALES GAIN. NEW YORK, 24.—Sales of Loft, Tnc., during the quarter end-| ing 'Deccmber 31 last aggregated | $2.103 compared with a total of | 82,038,375 in the three months ended December nuary ! | for furnishiny Dresses bricks for the Langiey and Macfarland Junior High Schools, heretofore advertised to be open- d ‘on_Februi opened on Ja 29, 1923 For specifications and information | apply to room 320. District building. CUNO H. | RUDOLPH, JAMES F. OYSTER, CHARLES | KELLER. Commissioners. D. C. DEPARTMPNT OF THE INTERIOR. WARH. | ington. D. C.. January 11, 1923.—Sealed proposals in dupilcate will be received at the gepartment until 2 o'clock pom. Tuesd February ¢ for the erection and_compl tion of laboratory and isolation buildings Saint Elizabeth's Hospltal, Washington, D, C. In sccordance with fhe drawings and Species tions for the work. copies of which, with form | of proposal. may be bad upon application 0! | the departmient. check in the sum | of twenty five d . pyable to the | order of ‘the Secretury of the Interlor. will be required s a guaraufee for the wafe return of | each set of plans. The right Is reserved fn Tefect any and all bids, waive tech fects. and to accept one part and reject the oth the interests of the government may | Tequire. Proposals must be “sacurely envel. ' oped, marked oratory and isol Proposals for erection of lab- | Ton bulldings at Saint Eliza. | 1 beth's Hospital”” and be addressed to the Se retary of the Tnterlor. ington, D. F. M. GOODWIN, Asslstant Secretary. MOVING, PACKING & STORAGE UNITED STATES STORAGE CO. MOVING, PACKING, SHIPPING. KS: M. 4220 F. 423 FIREPROOF. CLEAN, DRT STORE FOR FURNITURE AND i iancs. ' Estimate cheerfully given. Conven- | eat Tocation. WESCHLER'S, 650 Pa. ave. .w. Phone Main 122, L " Gomnection Rates Witk Der RED BALL TRANSIT CO. National Household Movers. 4 Woodward Bidg. Main 2162, MOVING g2 STORAGE KRIEGS RESS PACKING SHIPPING 1838 X 8. NV, Mais 3018, | Packing, Shipping, Geners! Haaling. First-class servico—Reasonable rates. 145448 U Street N.W. Phove N. 8845, ¢ UNION STORAGE -COMPANY' l.%‘. 96-9 Fla. Ave. SEPARATE ROOMS, $ Looal and Long Distance MOVING. ORI BY ExTRTS et Tared 2,060 while 1n our long diatans vags, STAR, WASHINGTON |cancels accrued dividends of $1,585.000 | deemed, means that the company on lence st |to the rate of $1 per share pald prior ; j# share, compared with § D. HUDSON VOTES REGULAR |FISHER BODY PRESIDENT | ADMITS NEW FINANCING AND EXTRA DIVIDENDS Same Payments Declared as Made | Announcement Also Made of xeflr-l in Last Quarter—March 22 ing of du Ponts From Board Day of Record. of Directors. By the Assoclated Press. { ,NEW YORK, January 34.—Reports NEW YORK, January zc.——DiucumIg-'g‘:nt;_r‘n%lnadé.;ue of new stock of the Hudson Motor Car Company e g today” announced the declaration of |uy sy resulted in a sensational drop {9f 38 points in Fisher stock on the an extra dividend of 25 cents and the [ Neyw A v et LRI R e e York Stock Exchange yesterday, eEtaar adusrterly dividend of 80|were confirmed by Fred J. Fisner. cor record March 22. These are the same | 3POration president. Mr. Fi d tire- payments as made in the Dreceding {ment from the Fisher board ot di- quarter. rectors of Plerre S. du Pont, Irenee du Pont, Lamotte du Pont, John J. BROKER FIRM’S LOSSES PLACED AT $252,500 Raskob, " Alfred P. Sloan, jr. J. A Haskell and C. 8. Mott, all of whom are directors of the General Motors By the Associated Press KANSAS CITY, Mo, January 24— The loss of 'Houston, Fible & Corporation. them Co., brokers, who suspended opera- Tt was felt wise to relieve of serving on both boards, the state- tions December 18, were placed at! $252,500 in a report filed today by ment said, because of the fact that s0 great a part of the Fisher out- Thomas H. Reynolds, former receiver | in the federal court here. He placed | put is sold to Generdl Motors. The personnel of the Fisher bourd the known lfabilities at approxi- mately §5.700,000, and the assets, ex- now includes Fred J. Fisher, presi- clusive of accounts receivable and dent; Charles T. Fisher, vice presi- denti L. Mendelssohn, secretary; Wil- individual property of the firm mem- bers, at $5.447,500. liam' Butler, controller, and W. A. Fisher. L. P." Fisher, . ¥. Fisher and A notation in the report stated *No recent loss of large amount” and at- A. J. Fisher. | ! o i tributed loss of the company's cap- ital to suspension of its membership on the New York Stock Exchange. Lady Elizabeth Angela !\lartuerxle1 Bowes-Lyon, the bride-to-be of the Duke of York, is the daughter of the Earl of Strathmore, who owns a num ber of Scotch and English peerages | The ancestral home of the earl is| GOODYEAR TO RETIRE - $9,902,500 IN STOCK By the Associated Pres NEW YORK, January 24.—Directors | of the Goodyear Tire and Rubber ompany have voted to retire $9.902 500 of prior preference stock, leaving the total outstanding of ,000.000. | Provisions also were made for a sinking fund of $2.500,000 for company debentures on March 15. The stock authorized for retirement | If you have money to nvest, we can safely place it on gilt-edge first D. C. Mortgages. Our record of 30 years insures your protection. Courte- ous treatment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. to January 1. 1923. together with This retirement, | bonds already re- March 15 will have retired approxi- mately §4,750,000 in bonds and deben- | tures. This, with the prior prefer- | makes a total retirement of £14,652.500 of securities created | and issued at the time of the reor- | m‘odl‘fnnn@ug VOTED. ; First Trllst Notes Standard of California Declares 50 | Cents Per Share. | e for immediate delive SAN FRANCISCO, Januar Al dividend of 50 cents a share was de- clared by the board of directors of | the Standard Oil Company of Califor- | nia, pavable March 15. to stockholders | of record February 20, here toda: 'l'h-‘ rate of 50 cents a share is equivalent | mecured by i n heautiful cated mear 19th and Belmont to the company's recent 100 per cent W stock dividend i KRESGE'S REPOR? FOR 1922. NEW YORK, January 24. — The forthcoming annual report of the Kresge Compuny f is e pected to show gross sal nately $65,000.000, compared . wit = and profits of 00,000, against $3.402.032 in | 1 After ‘allowance for preferred | dividends the balance available for the common stock will be about $30 a share highly recommend notes us a wound, con- il orinterent.s Hl| wooa whe [l propert . the character of the il fmprovements amd the nigh {[[Il margin of mafety is taken inte il constderation. dlu furnish full par- terested parties. We will gl ticulars to Moore & Hill, Inc. 1420-22 H St. NW. carned in the previous y |~ Commercial Business Executives Is your Snancial statement simplified so {7cu understand the exact fnancial conditio Foth ‘actual and futurs earning ebility] Ars in doubt or lesitats when discuseing Tequirements with your bankerl Do | what Tine of cradi your statement | {Jastifles asking the banker fo eotsing Are zou’ getting the credit sccommodation | your ‘business justifies? If mot, comsult an |expert’ with broad seasoned experience in | handling small’ and large fnance. Conserv tive, effective advice and assistance rem | 601-605 Star Bui i 1 “We will” —have ready for delivery in about ten days imited amount of Gilt Edge First Mortgages 7% Investments In Amounts of $250 Up Make your reservations now The opportunity to get vour savings invested on a basis of 7% interest is rapidly passing. Chas. D. Sager 923 Fifteenth St. N.W. Banks and Estates We maintain a special service for banks and estates that has proved valu- able to an increasing number. We will be glad to explain the plan in detail on request. Let us manage your Rental Prop- erty. Over a Quar-! ter of a Century Experience. B. F. SAUL CO. 1412 Eye St. NW. Main 2100 (GRAHAM. PARSONS X% Co. PHILADELPHIA NEw Yorx WASHINGTON 40S Hisss BLoG. Telephone: Main 2655 We Have an Abundance of Funds for Real Estate Mortgages at 5% Provided the Security Is Satisfactory Wm. H. Saunders & Co. 1433 K Street N.W. Out of the Large Number of People Who Know How to Save, Few Know How to Invest FIRST TRUST NOTES as issued by us, will be found to be a safe and sure method for the inexperienced investor. Consult Our Loan Department SHANNON - & LUCHN Main 25 [ Secu Pre | Joseph C, WEDNESDAY, JANUARY 24, 1923, EQUITABLE Co-Operative Associati Organized 1879 434 YEAR COMPLETED Assets ..... Surplus . Systematic Saving A plan to make saving easy— Save a little eu:.h pay day and you will be surprised at the llmounl accumulated in a short time. Subscriptions for the 84th Issue of Stock Belng Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOAN JOY EDSON. Preaident FRANK P. REESIDE, Seey. uilding Money to Loan first deed of trust on real estate iling interest ‘l,l;dwmnm-l!l:fizl.m ash. I Weller {2 We L &7 historfe Glamis Castle in Scotland. IB LOANS From $100 to $303 oo D. C. real 4 household goods or chat- T per cent interest. No bro- Commarcial Loan. & Fii C qr mmercial Loan & Finanos on. Room 211, 921 1bth Bt. N.W. Main 5672 . e I am authorized to place upon the market 1,250 units of DISTRICT GUARANTY CORPORATION —shares. This is the first allotment of the increased capitalization of that company. These shares are in all respects identical with the original issue, participate at the same dividend rate,and share in the surplus. The price of the new units is $250.00 —cach, cash or payments. The above price is subject to withdrawal without notice. WilliamBWestlake Wa D.C. FINANCIAL. L MORTGAGE MONEY, | , $43.85 | on band to loan on rea] estate. for iliustration. | $300, ARREL]L Woodward Riag. 000,008 | | THOs. E. odward B w < Important Announcement We Desire to Announce the Appointment of N. E. CROWELL R. W. GUTHRIE 230 Munsey Building Washington, D. C. As the Authorized Repmel;nlivu of The Stone Plan of Investment Service afety of principal. urety of dividend yield 3. Quick convertibility into cash. 4. Profit-sharing through permanent share in owner- ship. No investor has ever lost a dollar of principal or dividends in the history of our company, nearly seven vears. H. A. STONE & COMPANY ! 1409 New York Ave. HETHER you have $100, $500, | Booklet $1,000 or more to invest, investi- Wwill gate our First Mortgage Loans on Wash- Hel ington Homes before placing your elp You funds. Place NEVER A LOSS Your Our conservative business methods have so perfectly protected and safe- Money guarded the funds of our investors that Safely 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. 612% and 7% Interest Convenient Denominations Call, Phone or Write for It WILLIAM S. PHILLIPS First Mortgage Investments Main 4600 | NO L™SS TO ANY INVESTOR IN 50 YEARS Invest Your Funds at With D. C. Intangible Tax and 2% Federal Income Tax Paid We have available several new offerings of First Mortgage 612 6‘0 Investments at 6%% interest with attractive tax-retund 1eatures. They have been purchased by us with our own funds after caretul investigation. sat We recommend them as thoroughly eguarded investments, suitable to the requirements ot all investors whose first consideration is Safety. These First Mortgage Investments are appealing strongly to investors who desire an absolutely sate investment with an attractive yield. We suggest prompt action in order to secure the amount and maturity desired. Reservations accepted for future delivery Denominations: $5,000, $1,000, $500, $100 Maturities: 2 to 15 years Call, write or phone for descriptive circulars The F. H. Smith Company 1414-1416 Eye Street, N. W, Washington, D. C. Without obligation on my part, please send me information about your First Mortgage Investments which assure a net return of not less than 65 %. Name...... H CJhe F.H.SMITH COMPANY Srolunded 1873 N FIRST MORTGAGE INVESTMENTS 1414-1416 Eye Su'eetz N. W. NO LOSS TO ANY INVESTOR IN 50 YEARS