Evening Star Newspaper, March 6, 1923, Page 27

DAL ERGERHEARIGS ARBANGEDBY L ¢ Further Consolidation Evidence to Be Taken Soon in West. Plans for East. The Interstate Commerce Commis- ®on will begin a serles of hearings in the west March 19 to give west- ern communities and state authorities Continental Can, Co., q, D! Sontinental Can. 2 . 2 2 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PITTSBURGH, Pa, March 6.—The Eureka Pipe Line Company announced today that it wiil take all oll offered this month. Producers are still in- clined to hold for higher prices and in- dependents are offering premiums. SAN FRANCISCO, March 6.—Cen- tral and northern California lumber mills today are rushing production of box shooks in preparation for the fruit and canning season and are put- ting on extra crews of workers. Heavy orders are coming In from Alaska fisheries and from California and Hawaiian packers. YOUNGSTOWN, Ohio, March 6.— Shipments of the Lumen Bearing Com- pany for January and February were three times the record for the first quarter of 1922, Plans for plant ex- tension are under way today. FORT WORTH, March 6.—Ranges are turning green today all over the southweat except in the Clovis and Tucumcari districts of New Mexico, where feeding still is necessary. HOUSTON, onions from southwest Texas are be- gining to reach the Houston market. The movement generally does not start until April, but the mild winter has resulted in early maturity. March _ 6.—Bermuda BOSTON, March 6.—The Thomas G. Plant Shoe Company is operating its big plant close to capacity of 17,000 airs of shoes a day. Chairman riggs of the cumglny'l board said today that during the coming months a decided Increase in consumption of shoes was 16 be expected. FALL RIVER, Mass., March 6.—Fall River textile mills employes number- ing 35,000 are demanding a 29 per cent increase in wages. This would restore the wage scale in effect at the war-time peak. Manufacturers so far have refused these demands and the matter Is expected to cume to & head in the near future. PORTLAND, Ore., Marcn 6.—Exgorts of flour to the orlent are briskiug up. The steamship Bondowoso, which will arrive here March 10, will carry 3,000 tons of flour to Chine, Japan and Island | ports, and the Tiisalak, due to sail in ! April, will carry, 4,000 tons more. Agout 15,000 tons' have been shipped from here since the first of the year. FINANCIAL, Capital & Surplus, $2,000,00000 However Good Your Wife —as a wife, she may prove a ' very poor business woman at managing your estate. Naming her Co-Executor with this company will result in more economical management of your estate, at the same time releiving her of all the business details involved. &4 Our Trust Officer will appreciate an opportunity to discuss the above subject with you, whether or not your will has been drawn. National Savings & Trust Co.j 56th Oldest Savings Depository in Washington Cor. 15th and New York Ave. ¢ OPportunity to pressnt views on rail- road consolidation, it was announced today. The first hearing will be held at St T'aul, and others will be at Helena, AMont., March 23; Seattle, March 26; . March 28: San Fran- Los Angeles, April 7; . April 11; Denver, rt Worth, Tex., April 23; 26, and'St. Louls, Humphreys Oil Co., q. Uumphreys Petroleam Year Westinghouse Building: and twe exam- D15 Apl . 15 May . 15, May .12 Meh . its consideration of dation plan insofar as it ern carriers which have not been given opportunity to pre-|s eent views. .Mech. 12 Mch, Mch. 30 Apl. 20 Apl. 3 Meh. 21 pl. EX-DIVIDEND TABLE. MONEY TO LOAN ... 3150 ot s & Improvement, q... : N FIRST MORTGAGES Money to Loan - o | Secured by frat deed of trust on reat eatate. Prevailing interest srd Joseph I. Weller {1, " AT CURRENT RATES OF INTEREST Natlonal § Worthing! If you have money to invest, we can safely place it on gilt-edge first D. C. Mortgages. record of 30 years insures your protection. Courte- ous treatment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. assign at a discount, special in- | come contract of Fidelity Investment Association. Present investment $320. | ! I Write or Telephone T. H. Atkelson | { 1916 Eye St NW. . f i 1] . kB i‘ EQUITABLE | : Co-Operative Building Association Organized 1870 43d YEAR COMPLETED Randall K Hagner & Ca 2207 Crnecticat (Brcnue motive, an Locomotive pf. A S CONDITION The Richmond Beneficial Insur- ance Company of Richmond, Va., | ’l‘ ired | Capital stock . Capital stock, pa MORTGAGE MONEY 5% and 6% An unlimited amount to loan on desirabl hotels, office buildings, apartments or centrally located business properties in Washington, D. (. in amounts of $100,000 and upward. LOW FEES PROMPT ANSWERS EARLY CLOSINGS [SHANNON - & LUCHS| 713 14th St. Cash in office ... Total assets ... Amnets ... Surplus .. Systematic Saving A plan to make saving easy— Save a little each pay day and you will be surprised at the amount accumulated in a short time. Subncriptions for the 84th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. New Issue to Net 6% $4,500,000 Westinghouse Building NEW YORK CITY First Mortgage 6% Serial Coupon Bonds (Safeguarded under the Straus Plan) 2% Federal Income Tax Covenant Principal Lessee: The Westinghouse Electric & Manufacturing Co. DATED: February 27, 1923 INTEREST COUPONS DUE: April 1 and October 1 Main 2345 8% High-class . Mortgages For Sale in small and large amounts Corv & Cory, 719 15th St. N.W T n = afe Security ound Methods atisfactory Service —are outstanding elements of the desirability of investing in our 7 % First Mortgage Notes Desirable investing depends eolely in judiciously selected securities. ‘We value highly our recor: of never a loss of as much af a single penny in either prin clpal or interest. Notes now on hand in de- nominations of $250 up to $5,000. Certified Title furnished with each purchase. Collect- ing, remitting interest and all details_attended Loan Department. Chas. D. Sager 924 Fourteenth St. N.W. Loan Dept., Main 36 N=—= 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. We Specialize in Property Management RENTS Over a Quarter Of a Century Experience B.F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 No loss to any investor in 50 years Your March Funds When you gl.ee your March investment funds in our First Mortgage offerings you obtain: 1. Interest at 6%2% per annum, paid semi-annually. 2. Refund of the D. C. intan- ible or any State tax up to S per $1,000. 3. Choice of maturities—1 to . 15 years. 4. Advmsug_u of l:l::: I;vux- ment Savin, et 10 meoths in which to complete your purchase. S. That feeling of security which comes from dealiny with a house that has ba of it a record of no loss to any investor in 50 years. Call,write or phone for descrip- tions of our Rt offerings. ke B.H.SMITH CO. ounded 1873 1414-1416 EYE ST,, N. W. STRAUS PLAN AMORTIZATION UNDER the covenants of the trust mortgage, the bonds are paid off in yearly serial instalments, the coupons being payable twice a year. In order to assure prompt payment of both principal and in- terest in cash on the days due, the trust mortgage requires the borrowing corporation to make 192 ap- proximately equal monthly payments to S. W. Straus & Co., each monthly payment being approxi- mately $31,800. These compulsory payments automatically provide in advance a fund of a little more than SS{B:;O& -dzm, from which the coupons are cashed, the balance being used for the serial retire- ment of the bonds. The fixed charges under the Straus mortgage and the method of meeting them by monthly payments are set forth in the following table: Principal Payment $112,500 119,500 126,500 134,000 142,000 150,500 159,500 169,000 179,000 190,000 201,500 213,500 226,500 240,000 2,136,000 Serial Payments and Monthly Payments: Roatiy Payment $31,841.66 31,895.83 31,881.66 31,874.16 31,870.83 31,869.16 31,866.66 31,860.83 31,849.16 31,870.83 31,879.16 31,871.66 31,887.50 31,880.00 Interest Payment $270,000 263,250 256,080 248,490 240,450 231,930 222,900 213,330 203,190 192,450 181,050 168,960 156,150 142,560 Total Yearly Payment $382,500 382,750 382,580 382,490 382,450 382,430 382,400 382,330 382,190 382,450 382,550 382,460 382,650 382,560 2,136,000 Maturity April 1, 1926 April 1, 1927 April 1, 1928 April 1, 1929 April 1, 1930 April 1,1931 April 1, 1932 April 1,1933 April 1, 1934 April 1, 1935 April 1, 1936 April 1, 1937 April 1, 1938 April 1, 1939 April 1, 1939 to by our Housing the Nation i $4,500,000 $2,990,790 $7,490,790 $240.000 principal ptus $142.560 interest paid by twelve monthly payments. leaving a balance to be paid on April 1st. 1939, of $2,136.000. Denominations: $1000 and $500 bonds in all maturities; $100 in last maturity only. Throughout the United States in the leading cities, large apartment build- ings and hotels are being constructed to furnish desirable homes at reason- able prices. These buildirigs are being financed by the investing public who take as security First Mortgage Bonds secured by the land, building and income. The companies which sell these bonds are doing a great service to the nation at large in supplying homes and to the investing public in furnishing safe investments. The American Bond & Mortgage Company specializes in this field and the many thousands of investors throughout the United States who have purchased from them millions of dollars of First Mortgage Bonds secured by im- proved city properties have never lost one dollar of principal or interest. We now offer for sale a bond issue fully protected by the American Bord & Mortgage Company'’s formula of safety, and offering the attractive yield of 7%. Full information will be sent upon re- quest if you ask for Booklet W. C. 72 INTERNATIONAL BANK 807 Fifteenth Street, N. W. Washington, D. C. We summarize the following facts from a letter of Mr. Fred T. Ley, president of the 150 Broadway Corporation, borrowing corporation of this bond issue: "HE FONDS are a direct, closed first mortgage on the property located on the northeast corner of Broadway and Liberty Street, New York City, to be improved immediately with the Westinghouse Building, a steel frame, fireproof bank, store and office building 23 stories in height. The site consists of approximately th arters land in fee and one-guarter long term leaschold estate. This is a strategic location, on one of Ie best corners on lower andw-zoin the wn financial section of New York, directly across the street from the Guaranty Trust Company, the Chatham & Phenix National Bank, and the Singer Building, surrounded by many of the city's largest financial institutions and buildings. The building is to be erected at once and its completion, free and clear of all prior liens, is unconditionally guaranteed to the bondholders by S. W. Straus & Co., Incorporated. TWELVE floors of the building have been leased to the Westinghouse Electric and Manufacturing Co., founded in 1872—one of the best known corporations manufacturing and selling machines and appliances for the generation, transmission and utilization of electricity, the company’s products ranging all the way from electrical locomotives to radio apparatus. It is that con- siderable more office space will be leased to allied companies. Applications have been made by leading corporations BONDS yielding 3.31 to 7.70% A diversified list of Bonds offering a wide range of maturities. Property Mortgaged: Principal Ask for our March Invest- Lessee: ment Recommendations retail for practically all the store space. SED on leases made and lications received, the net rental earnings are conservatively estimated BAn nsa;'.‘ooo, more than fl?;:e the gres test :nnul.l interest charge, and more than the yearly prin- cipal and interest requirements. The E..'S and completed building are valued at $5,800,000. Price: Par and Accrued Interest to net 6%. The National City Company Washington—741 15th St. N.W. Telephone—Main 3176 Earnings and Valuation: Call or Write for Circular 180-G S.W.STRAUS & CO. ESTABLISHED 1882 " OFFICES IN FORTY CITIES = INCORPORATED NATIONAL METROPOLITAN BANK BUILDING WASHINGTON, D. C. Telephone Main 5847 We Have a Prac}icaliy Unlimited Supply of MONEY TO LOAN at 5% Wm. H. Saunders & Co. 1433 K Street N.W. 41 YEARS WITHOUT LOSS TO ANY INVESTOR