Evening Star Newspaper, March 1, 1923, Page 29

FINANCIAL. PROSPERITY GROWS * INFITH DISTRIET Reserve Bank Notes, Cotton, Farming, Building and Trade Booms. improvement in the fifth A continued in busines $1,920,000. and there wil be a net growth of 6,700 stations.” The report states the company made ! net additions to its plant in Wash-| ington last year of $883,000. This in- crease provided for the additional number of stations, one new central | office, and nearly 20,000 miles of wire of all sorts. The committee approved an expenditure of $30,000 for under- ground cable for the Columbia-Adams central office, and an expenditure of $23,000 for improvement in connec- tion with the Potomac central ex- lchnnn—v l Bank Clearings Lighter. Business in Washington continued on a comparatively even tenor during February, according to statement of local bank clearings made public this morning_ by Charles E. Bright, man- ager "of the Washington Clearing House Association. During the period a total of $79.- 749,776.06 passed through local banki THE EVENING STAR, WASHINGTON, D. C. THURSDAY, MARCH 1, 1923. ot B ) etttk Bt e et |COTTON MEN STUDYING 54| CONDITIONS IN INDUSTRY D. C. Paper Mfg. Realty Bs (I Everybody From Producers Spinners at Conference in New Orleans. NEW ORLEANS, March 1.—The cot- ton {ndustry from production to spin- ner was represented here today, when delegates from spinning interests, co- operative marketing associations, growers and merhcants from the cot- ton belt and delegations from cot- to ton exchanges gathered at a con-| the New Orleans | ference called by tton Exchange to discuss subjects ating to the sale, shipment and | various’ other problems affecting the | staple. Following the organization of the ! Stuart, conference New England id Caro- lina mill rules and mutual margin calls are scheduled to be taken up,for discussion. Differences between shippers and spinners as to selling terms, staple lengths and insurance on shipments and other subjects are expected to be taken up before the conference adjourns tomorrow. George M. Shutt, president of the New York Cotton Exchange, and three other representatives of that organization are among those at- tending the conference. GIVEN HUGE TASK. Francis Stuart to Plan Terminal Changes Costing $100,000,000. v YORK. March 1.—Francis Lee former vice president and chiet emgineer of the Baltimore and Ohio railroad, has been engaged by the twelve railroads entering New York to co-ordinate their separate terminal development plans and that of the port authority. His task will be to consolidate ter- minal improvement plans involving more than $100,000,000, according to Wall Street reports. —— i ) RISE IN D. C. RAIL TRAFFIC.|g Rallroad freight traffic, which has | been running far above seasonal rec-| | ords since January 1. is continuing | to maintain the record-breaking vol- ume, on the basis of latest reports vy | the American Railway Anlln"lnlmlLl Durink the weelk ended February 17, a total of $1 cars were loaded | With revenue freight, or 44,503 cars| more than were loaded in the sume week last year and 125,771 cars more than during the same week of 1921. TINANCIAL., Money to Loan Becured by first déed of trust on real tate. Prevailing interest ard comm| Joseph I. Weller § Wesh L & Trust | “DURANT MOTORS, INC., . If you have money to invest, we can safely place it on gilt-edge first D. C. Mortgages. Our record of 30 years insures your protection. Courte- ous treatment. CITIES SERVICE SECURITIES Bought, Sold, Quoted THOS. W. BRAHANY & CO. Investment Securities 510-11 Evans Building ‘Wanhington, D. C Main 6189 cent interest. No hroker- Pay your bills aud owe. ict is noted v a favorab! ith e Tanie i?h'l”?,é‘r‘,'"‘ co;np.lr»d avoral N chmond and | when $94.2 Press. A8 Juy month, with two benk holidays ed declin- | nteripersed I8 upward } - wilkine Company Stockholders. S<hen | The stockholders of the John H. »f the | Wilkins Company, Inc, held theiran- | nual meeting yesterday a |of the company and elected the fol- {lowing _directors for the ensuing year ssrs. John H. Wilkins, Leon S Ulm rd W. Phillips, Wal- ter B. Guy. La R. Peak, L. Frank ‘chambault, Robert H. Clark, Yates|{ . Boswell and John H. Wilkins, jr. | Pited" states. —_— Washington Me: an & Finance Corporation Tinde pub Room 211, 921 15¢h St. N.W. reported Labor ment Percy H. Russell Co. SW. Cor. 15th & “K” Sts. ges have ce: w tenden nd good weather h outdoor work to 3 ally well for this s TRUST COMPA American_Security and Trust Continental Trust. SN ” . Every Day in the Year —money deposited here is earning something for its owner. Tt never rests, it knows no hours, no holidays, no vacations. Money once spent earns nothing and is gone forever. Why not choose the wiser course? In- stead of spending as you go, open an account here and make your money work for you as you worked for it. ptton prices b continued u The Family Investment OU will feel happier if you make a safe investment for your family. Your financial responsibility as head of the household will be lessened if you in- vest in our First Mortgage 6‘- Notes, secured on improved Washington prop- erty. o cTon factors vi some ‘return; ! s iWashington Stock Exchange 5a-$1,000 at b7, $1.000 '$1.000 at 07 Flec. & & ref. T5—$1.000 at 107, National Unfo v Columbia . Title. Real Estate Til 10 at 981, 10" at 491, 5 at Washington 3 . 10 at 49%. e e Our experience, our tireless investi- 4 gation are behind them. During over half a century not one investor has lost a penny in principal or interest through our mortgages. Euery Banking Service Call loans, 5 and 6 per cent. BONDS Bid and Asked Prices. PUBLIC UTILITY, COMMERCIAL We specialize in these Notes. They ) W S NCC are part of the actual closed first mort- 3 0 ON SAVINGS gage on a specific piece of property. Interest is paid semi-annually, on the day it becomes due. Bid. Asked 1 o: afe Security ound Methods atisfactory Service —are outstanding elements of the desirability of investing in our 7 % First Mortgage Notes Desirable Investing depends lely in judiciously selected curities. We value highly our record of never a loss of as much as a single penny in either prin- cipal or {nterest. Notes now on hand in de- nominations of $250 up to Your March Funds ssvenmm: Title furnished with_each purchase. Collect- ing, remitting interest and ail detafls attended to by our Loan Department. Chas. D. Sager 923 Fifteenth Street N.W. Loan Dept., Main 36 53 Years Without Loss to an Investor Swartzell RheemG H, C 727 155 Street AW, Bank Loans. | Potomac ¢ from thir-) oo: 0a. Pot. Eie & m_& ref. Wash.. er. Alex. 15th and Penna. Ave. Capital and Surplus, $5,400,000.00 7 HOME SAVINGS BRANCHES 8th and H Sts. N.E. 436 7th St. S.W. When you place your March investment s in our First Mortgage offerings you obtain: . Interest at 6Y2% per annum, paid semi-annually. . Refund of the D. C. intan- gible or any State tax up to $5 per $1,000. Choice of maturities—1 to 15 years. Advantages of our Invest- ment Savings Plan, if you want 10 months in which to complete your purchase. That feeling of security which comes from deali with a house that has baci of it a record of no loss te any investor in 50 years. Call, write or phone for descrip- tions of our March offerings. 7th and Mass. Aze. Iy Copuepiept Depemipatiops For Ipuestors H. L. Rust $5,000,000 J. H. & C. K. EAGLE, Inc. Fifteen Year 6%2% Sinking Fund Gold Bonds : (CLOSED ISSUE) net ' Afer deducing | ance for | ded to the| ct of Columbia. | & Activity. i activity in t lopment bu he F.H.SMQI’ZH co To be Dated February 1, 1923 1414-1416 EYE ST., N. W. To mature February 1, 1938 Interest payable February 1 and August 1. Coupon Bonds oi $100, $500 and $1,000 denominations, registerable as to principal. Redeemable at option of the Company in whole or in part at 105 and accrued interest on any interest date on thirty days notice. Interest payable without deduction for Normal Federal Income Tax up to 2%. Tax free in Peon- sylvania. Connecticut personal property taxes not in excess of four mills and Maryland securities tax not in excess of four and one-half mills refunded upon applica- tion within 60 days after payment of tax. THE CHASE NATIONAL BANK, NEW YOSK, TRUSTEE Salient features as summarized by Mr. Thomes B. Hill, President of the Compuny BUSINESS: J. H. & C. K. Eagle, Inc., (a Pennsylvania corporation) is the development of a silk manufacturing business acquired by the present interests in the year 1899, and is recognized as one of the leading silk manufacturers and distributors in the United States. The original investment was $70,000 and the present net worth of the business, over $14,000,000, has bosn built up entirely out of earnings. The volume of business has grown from approximately $100,000 per anmum in 1899 to approx- imately $27,000,000 in 1922. The present rate of production and sales is in excess of per annum. : ASSETS: The financial statement of the Company as of November 4, 1922, as certified by Messrs, Touche, Niven & Co., after giving effect to the disposition of the proceeds of this issue of bonds, shows net tangible assets, after deducting all liabilities this isswe, of $18,895,660, or $3,779 for each $1000 Bonds, and net current assets of $8,447,780. EARNINGS: The net income for the five years and eleven months ended Novethber 4, 1922, after depreciation and charges but before Federal taxes, averaged $1,238,138, or MORE THAN THREE AND THREE-FOURTHS TIMES the annual interest charge on this $5,000,000 issue, and for the five years ended November 30, 1916, averaged $753,745. The net income for the first ten months of 1922 was at the annual rate of about SEVEN AN]? ONE-HALF TIMES such interest charges. These earnings are before giving effect to any interest savings or any additional income that may be derived from the proceeds of this FIRST MORTGAGE NOTES FOR SALE Co-Operative Building IN DENOMINATIONS OF Association Organized 1879 43d YEAR COMPLETED Assets $4,6857.939.56 Surplus 80,850.91 Systematic Saving A plan to make saving easy— Save a little each pay day and vou will be surprised at the amount accumulated in a short time. Subscriptions for the 84th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F 5t. NW. JOHN JOY EDSON, Preaident FRANK P. REESIDE, Secy. S00 DOLLARS AND UPWARDS 1207 %}macfi‘cflf .%m Apartment House For Immediate Purchaser Will Pay $100,000 Give particulars as to | rent, trust and expenses GILTEDGE SECURITIES 7%, 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 National Mortgage & Investment Corporation 811 Vermont Avenue N.W. Stone & Fairfax 1342 New York Ave. For 22 successive years the business has operated at a profit every year, even in 1920, a year of severe depression in the silk industry. ; 7 SINKING FUND: Payable semi-annually beginning August 1, 1923, to retire a minimum amount of $150,000 Bonds per annum, being 3% of the total issue; to be further increased by addi- uqnal payments beginning February 1, 1926, based on earnings, such additional payments to bring the total maximum annual sinking fund payments up to $307,500. RESTRICTIONS: The Company has no mortgage indebtedness except $316,600 First Mort- gage Bonds. The indenture will provide that the Company shall not create any mortgage in- debtedness without including the Bonds of this issue in the lien of such mortgage, nor issue notes, debentures or other evidences of indebtedness (except purchase money mortgages) having a longer maturity than one year while any of these Bonds are outstanding. The inden- ture will further provide that the Company will take no voluntary action to reduce net cur- rent assets below 100% of the amount of this issue at the time outstanding, and will declare no dividends which will reduce current assets below 200% of current liabilities. YOUR PRINCIPAL IS SAFE— THE YIELD ADEQUATE— —when you invest in our FIRST MORTGAGES MORTGAGE MONEY 5% and 6% An unlimited amount to loan on desirable hotels, office buildings, apartments or centrally located business properties in Washington, D. C., in amounts of $100,000 and upward. LOW FEES PROMPT ANSWERS EARLY CLOSINGS HANNON- & LUCHS 713 144h St. Main 2345 N addition, you are relieved of all detail and worry. We collect and remit in- terest promptly for investors without charge. Legal details will be passed upon by Messrs. Rushmore, Bisbee and Stern for the Bankers and by Dallett H. Wilson, Esq., for the Company. Temporary negotiable Bonds or Interim Receipts may be issued pending delivery of definitive Bonds, when, as and if issued and received by us. Price 100 and Accrued Interest, Yielding 6%2% Descriptive Circular Furnished on Application The Equitable Trust Co. Spencer Trask & Co. of New York Hambleton & Co. Cassatt & Co. This information is not guaranteed, but is received from sowrces which we believe %o be accurste. Quarter of a Century : Without In amounts of $250.00 and up. a Loss B. F. SAUL CO. Main 2100. 1412 Eye St. N.W.