Evening Star Newspaper, March 28, 1923, Page 29

FINANCIAL. PEPCOHAS HEAVY REFUNDING IN JLY Bonds to Amount of $4,691,- 000 Mature—Railway Co. Has $1,000,000 Due. NG, Power (ompany ¥ tinancing BY L A. FLE ‘The Potomac E ave to do some h immediate future. will call $4,951.000, the 68 of the corporation maturing J 1 to this the improv ol the Benning be provided for with much nery for the large s-rv- ce to the clients of the compar: shut down e ¢ AV D rln--i at a cost and to m: e udded machinery is necessury 1 ticipation of geucral mortgage *inancing the company pl mortgage and re of whic hich ar: 1 on stock ey hange, with 107 "Thess bonds wera be readi t basis tomac Elect good condition, desp fact | 1hat it 1% placing 50 much of ita earn. ngs, about $110.000 & month. connection ¥ the cof now on valua- again: by the for th lmrlb.n—g to provide £ the July 1 matu The Warhington Ruilway and Company also has $1.000. ty July 1, this being an issue 000,000 general mortgage 6, hich, it {s understood, arrangen have been made for cartr sale and refund retiveme loc- Today's Market. also Capital ~while Iadlw g blc(kb were decidely s lon was off fractionally Railway common was nominal at bid and 65 asked, The preterred was bid and T4 aske Washington Gaw. 4 Publie Utilitity ¥ Met income for the trlo Power Comp: To $114.042 nl.xr 347 for the vear ago, according condition filed with '\BI Co come Tanuary, to statement of | the Public Utili- A ne from during from op- Ers to- ons ana ions alel onth the s as contingent re uers it lust but 1 year (also a totaled ouly during while op n - operating 5 Deductions totaled | 366,73 neriod Other Companies’ Net iz of the urban Railway Company to S14,864 during last nionth, and Sub- mounted as con rrespond- The Washington was operated at Auring the The (e line was P compared with $2.207 the ;rlv\mu\ nonth, 1L with a dericit of $1 ‘or the corresponding month of last car, FORD’S COAL DEALS Interurban line @ deficit of $421.98 Tenleyta and loss of §1 TOTAL $25,000,000 -Auto King Now Has Reserve Fuel Supply Placed at 600, 000.000 Tons. Speeial Diepates ta The Star. Mareh 25 —Henry Ford, latest purchases, now is wner of five different coal proper- ‘ies on which ten mines operated hrough twenty-two shafts. Hls in- estment ce last fall 20,000,000 a investments are clo. This will give him a serve of about 600,000,000 tons. —_—— APPLE PRICES FIRMER. Dispateh to The Star, NEW YORK, March ket for barreled apples of fancy «quality and good condlition was tronger under a more active demand and comparatively light receipts from the Hudson valley and western New York. Scalded and poor to ordinary fruit of red or green varietles con- tinued to show no important charges n_either prices or demand. The receipts of barreled and basket asars were light with the demand uite active only for large stock, per Jdouble-headed barrel, Kieffer pears anging from $1,560 to $5.00, with some practically ‘worthless. Bushel haskets brought 75 cents to §1 A carload of white cabbage arrived fvom AMerico and was of ordinary @lity and condition. 1t sold from 5 per crate of about 80 fornia_ stock brought 0Old crop white Danish ge was in comparatively light supply, with the market very dull and iweak and the demand light DIVIDENDS. 28—The mar- Stock of Record. Mch. 81 !.,th .\v Bus Howard Smith Lad., a., 1%% com. % prd.. . v as maturi- | g for when | 1 of §110.- Washington Stock Exchange SALES. AFTER CALL, 4 a 99, 1,000 at a “Washington Gas Tt 15 at 405 Money—Call louns, § and 6 per cent BONDS. Bid and Asked Prices. PUBLIC CTILITY. T & el & Tl Am. Tel. & Tel Anscostia ‘& 1 Auscostin_& Patoma & P Telephone & P Telephone of £ Capltal truction It s i aan ek sl | ean Telga. 45 1. tr. 5 E Rwy. & Storuge & Safe Dep. Vash. MKT. Cold Stor, 20 Park Hotel "OCKS. PUBLIC CTILITY whingron Gas Norfolk | Wash. & { Wash NATIONAL BANK | Cupital i ¥ iy { colimbia {'Bunk of Washington . X ST COMPANY and Trust, | . Toan sad ‘Triat SAVINGS BANK e |omt |0 (nuh[ STOCK SALE DENIED. Willys Corporation Creditors Lose Appeal to Court. YORK, sroups NEW fhy Mareh ts | el Hya-Overland Com said to b mobllcs @ mon ol. Cuffey repurted reditors had hee the sale of fa - N. Y., and Elizabeth, John W il- , president of the automobile com- was said to have \nmmrondi da " $200.000 i listed Claim fund if the stork | 50la betore next Septamier 15 —_— IRON ORE ADVANCED. Big Cleveland Shipper Prices 50 Cents Per Ton. CLEVELANT, Clevelund payments | possibla | g or ¢ which puts. the price ores back to the 1921 sold in & chant furna it was said advance f the price t of | The | and steel in- | 50 cents of old-r: d-range ton: Mesabi B and Mesabl n n advance, | s will not | ton Bon- semer, §5.20 { Passemer, $5.5 shippers tay, | much morc ‘than take cost of production and {tion. as lake carrying rat pected to be markel up. Says President Swift. BOSTON, March 28.—The annual report of the National Leather Com- pany, made public at the stockhold- | ers’ meeting here, showed a reduction In surplus of $1.305,393. President orge H. Swift <ai is loss was ue entirely to Inventory revaluations, Operations increased during_the year, | he said, and at present are 15 per cent of capacity, with prospects of attain- ing normal. “The present market prices for raw | stock, while higher than pre-war prices,” he added, “are no higher rela- tively than most other basic commodi- ties and are relatively lower than some —for {nstance, wool, cotton and silk. At current prices for hides and skins and current prices for leather we are able at this time to figure a modest profit on most of the grades of leather which we produce.” —_— SHORT-TERM SECURITIES, (Quotations furnished by Redmond & Co.) Aluminum Co. of Amer. Aluminum Co. of Amer 1933, American Cotton Ofl s- 1924... American Sugar 6s 1837 . & Tel. s i Copi Anglo-American 0il 7 Bell Tel. of Can. T Bell Tel. of Canada Ty 19 Bethlehem Steel 7s 1923. " Norihern 3248 104 et Lesther 38 1425 Central Leather Us C. . SB(I }a. 65 1929 . teago Tel cn P=-° e 1981, T A& g i M., 8t. P. & 8. 8. M. Morris & Co. tarm southw | crops. { Charaet Boosts | ' {LEATHER TRADE IMPROVES | ‘ and | Y Modest Profits on Most Grades, | { THE EVENING COMMODITY NEWS . WIRED STAR FROM ENTIRE COUNTRY CLEVELAND, March 28.—Although navigation has not formaily opened on the great lakes, the steamer Lakeland is expected from Detroit lhortl) with a cargo of automobiles. Thi 1 braved the ice because of Unusual demand for cars DETROIT, March 28.—The used- car problem of automobile dealers! and manufacturers is heing partial- ly solved by the general prosperity of the country, which is providing u market for these vehicles. One of the largest malers of cars of the §50u. has reports today from all lers showing the average number of used cars on band was only »ix per dealer representing an average {investment per dealer of $1,500. ¢l 28.-—Reports still current here today | r Corporation plans autowmobile fac- | land near this| <ippi river. Owners | udmit negottutions | . PAUL, Mar arn, on the A the property are under way SEATTLE. or the ina jewalry price trend March wedding seds The approach | has resulted | ie ment in the in’ the northwent. The | is upward, due, it is| clatmed, to the increase in the price | of metals, especially silver and high wage scules. Fluctuations be articularly marked in mellee! diamonds. FORT WORTH, March age will show un inc cent this year a e, | aking of new land in_western and tern counties. Damage from | norther which swept thi now is declared, alf the fruit and per it BOSTON, March iarket is stroug ces have advan first of the 3 are expected ow Wages tod r-time pe back nearl March 28 —Reports from wholesale goods salesmen now o road throughout the middle| dicated today that sales of Tall lines were far heavier than last car. Manufacturers of children's ive call for or- CHICAGO plaste n ~hools to help overcome 1 that trade. the < Company + one-nifllion-dollar i apany also r this city M March buying in the mi specd today (o f 2% —With rail- { Becured by first deed of trust on real estate. CONDITION Firemen's Insurance Company ! of Washmgton and Georgetown | requicea | epIa Corte, Amented | At 1he $o1L" | o £200,000 00 Capiat stoek stock puid up in cash.ll Cush i Casn fn i assets LIABILITIES, claims 5 Sarsnil Muriog nsursnee. sk sssumed duriog, 1 £40,400.991.00 H. SNYDER otary Publie, . € Buffalo lmunnce Company STAR, WASHINGTON, WEDNESDAY, MARCH 28, 1923, sota legislators predict an extra se sion of the state legislature to frame additional ore-tax legislation if the occupation tax on iron ore within the state is held unconstitutional by the United States Supreme Court. NORFOLK & WESTERN’S FEBRUARY EARNINGS ROANOK Va. March Norfolk and Western railroad last month earned gross of $6,695,565, an increase of $269,944! balance " after taxes of $894,194, a loss of $597,447, and the net operating Income was $1.076,938, a decrease of $442.869, as compared with 1922, Two months' gross was $13.494,- 474. an increase of $1,141,182: balance after taxes of $1,023,251, a decrease of 28.—The | EQUITABLE Co-Operative Building Association Organized 1879 43d YEAR COMPLETED Anzetn Surplus n with o bank 4 popular. Inecrease ‘our popularity by saving sys- ematically and consistently Sabacriptions for the 84th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSO FRANK P. REESID] First Mortgage Loans! Lowest Eates of Interest and (.nmm.ulbl.' Prompt Actien Thomas J. Fisher & Company, Inc.: 738 15th Btrest. If You Believe in tie United States You Belicve in Washingto 7%5 First Mortgage 813 15th St. N.W. Main 2430 Money to Loan commiasion. 430 Wanh. L & Trust bilg.. 9ta & ¥ “BeforeYou Invest. INVESTIGATE" Prevalling interest ]aseph I Wcllct Thursday, Friday and Saturday you can buy or reserve investment units in the DISTRICT GUARANTY CORPORATION at the price of & each. After March 31 the price will be higher. DO IT NOW! B.Westlalm Livermore Capital stock B G i i canh e ral foans. on paid Dec. 3! assets losses, Total Capital stocl All other linbflities contingenci Reserve for adjustment of losses. labilities assum “Reserve for Total Amount of risk the year 1922 Tossces _ wustained during year 1922 Money rrtelr!d mmn‘ “the ‘year .....52,386,426.45 | ring - -$161,382,354.00 the Socret and sworn to before me this mxnl FISHER, Notary Public. HOWARD & HOFFMAN AGENTS This is a Day of Specialists We Specialize in Property Management RENTS B.F. SAUL CO. Mortgage Loan 1412 Eye St. N.W. Phone Main 2100 & Co. Members New York Stock Exchange 823 15th St. N.W. and' Wardman Park Hotel Main 2790 Col. 2000 New York Canners, Inc. Annual Production Output in 1922 about 63,000000 cans of the highest grade vegetable products, and 16,000,000 bottles of Snider’s chili sauce and ketchup. The present outlook for 1923 is the most favor- able in the Company’s history. Common stock has a book value — exclusive of good will—of $42.00 and is earning more than $6.50 a share. We recommend its pur- chase. Booklet describing scope and possibilities of the industry upom request. Crane, Parris & Co. 823 15th St. N.W., Washingten Telephone Main 593 | Crsi and net operating income l A decrease of $839,379 from LOANS 1 the same’ wrmd of the preceding year. . If you have money to safel oo Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. oans. ial L oo m,“’h*x T System Copyrighted & Patant Pending. Annual Statement OF THiC Mutual Fire Insurance Company of the Dlatrnc! of Columbia Ou tie 3181 day of Decomber 19 undrr the District of Cojumbia Code amended | 1011 August 18, LIABILITIES Net unpaid claim; Renmurance pren in offr in bank S thes atiiitien o, Tnterest duc Total liabilities Al other usse Total assets Chnracter 44.919.04 9.089 40 4 Expeaded darng 4 Prosident WAl CHTECH ROTELE T, PICRCE : eriled and sworn o before me this 1oth dux of March 1928 THEIMA FEACOCK. Notary Insurance at Actual Cost—Ask for Rates 09th YEAR. CHARTERED BY CONGRESS, 1855. OFFICERED BY LOCAL MEN. OFFICERS OF COMPANY: W. A, H. CHURCH, President. L. PIERCE BOTELER, Secretary. C. KATTELMANN, Treasurer. FRANKLIN BARRETT, Assessor. WM. REED MACGILL, Assistant Sec'y. | Office in Company’s Building |Corner 13th St. and New York Avenue N.W. The Largest Insurers of Homes in the District || Dean, Onativia & Co. o COTTON GRAINS COFFEE SUGAR STOCKS and BONDS MEMBERS' New York Stock Exchange Chicago Stock Exchange Associate Members of Mintieapolis Chamber of York Curb Commerce WASHINGTON OFFICE: Main Floor, Woodward Building Ofiice Open Until 5:30 P.M. Phone Main 2040 CHARLES R. ALLEY Assistant Manager Ne Association JOHN CALLAN O'LAUGHLIN Manager Stock Exchange Building New York FINANCIAL. $25,000 ) ! S0/000 | LIFE INSURANCE Month, Age 30 Security, 000,000 M. LEROY GOFF Insurmnce—All Branches 610 Woodward Building “wh ] en Investing Consider First Hafety, the rate of return earnings will_yield. You will find Tirst Mortgage Notes always foremost in recommended safety. Send for full information concerning our 1% First Mortgage Second. your !Investments in Amounts of $250 Up to $5.000 CGuaranteed Title furnished to all investors, with collection remitted the day due Chas. D. Sager 924 14th Loan Dept. 3L 26. 5 W.STRAUS & CO. “A Message to Corporate Executives” ESPONSIBLE mercantile and ustrial concerns with a record of earnings and the right management, with real estate assets or with plans to acquire real estate assets, will be in- terested in reading this new booklet. It explains how the house of S. W. Straus & Co. can be of help to them in new financing, whether for the purpose of sup- ?'inl additional working capi- or increasing their present flcnhnu‘ This booklet, just received from the press will be sent you upon request. Ask for BOOKLET LC erperated Ocers 5. Estad) shed 13 STRAUS BUILDING 565 Fifth Ave. —at 46th Street New York 41 years without loss t0 any investor & 1923—S. W. 5. & Co. 4o Ci investing? 100,000 Shares DuPont Motors, Incorporated Wilmington, Delaware (Incorporated under the Laws of the State of Delaware) Capital Stock No Par Value, Fully Paid and Non-Assessable Transfer Agent: LEourtasLe Trust Co., NEw Yorx How Much Will You Have 10 Years from Now? EN Years from now—in March, 1933—how much money will you have accumulated through saving and Ifyou use our Investment Savings Plan for buying First Mortgage Bonds, and invest $50 each month— You Will Have $8,304.79 10 Years from Now. Call, phone Main 6464 or write for our new booklet, “How to Build an Independent Income,” showing how much you will accumulate by putting aside $10 or more each month under our Investment Savings Plan. he E-H.SMITH.CO. Qounded 1673 FIRST MORTGAGE INVESTMENTS 1414-1416 EYE STREET, N. W. NO LOSS TO ANY INVESTOR IN 50 YEARS Regisiror? MeTroroLiTaAx Trust Co., New Yorg CAPITALIZATION Capital Stock, no par value. ... In treasury of Company. . History and Management DuPont_Motors, Incorporated, was organized in June, 1919, by E. Paul duPont, who with other members of the duPont f; ly, has paid in a total of $1,000,000 capital. This is the Tirst public offering of -toclg ‘and a majority of the authorized 250000 shares of no par value is now held by the same interest THIS STOCK WAS SUBSCR!BED AND PAID FOR TO THE AMOUNT MENTIONED, IN CASH, AT A PRICE OF EIGHT DOLLARS ($8.00) PER SHARE. The company’s business consists of manufacturing high- grade, distinctive motor cars. Among the directors of the company are Francis I. duPont and Ernest duPont, who are men of wide experience in business and engineering matters. ' Plant Facilities The plant facilities at Moore, Pennsylvania, are of the most permanent construction and are entirely adequate to take care of a production of 2,000 cars or more a year. 1n addition to this plant there is a larger plant in Wilmin, ton, Del., at which the company will eventually concentrate all of its Product The Model "A.” a four-cylinder car of high quality and distinctive characteristics, has been manufactured for sevs years, distribution mm:fi.the following places: New York, Boston, delphia, B:lmncu. Pittsbi Atlanta, Cleveland, Chicago, Kansas City, Los Angeles, Francisco and Wi Del. . Model “A” has given uniformly satisfactory service, as attested by numerous letters. New Model “C” Model “A,” has been imodified to a six-cylinder car, re- taining the desirable performance, appearance and construc- Al legal ’ul:n: «+2.250,000 shares o am e v e ot o QULSANAIDG -+ o v 1an 2o e oo e s 02 o0 e 00 130 00w, i cormection with this issue are wnder the direction and subject to the at low, of Wilmingten, Del., for the emn»v~ and of James R. Daering, attorn, Autherized 25,181 From a lettey of Mr. E. Poul duPont, President of DuPont Motors, Inc., we swmmarize in part as | lssued 250,000 shares 224,819 shares lows? tion generally of the first mode), to which have been added certain refinements which the company’s several years’ experience has supgested, and which, together with the six-cylinder motor, makes the Model “C” a thoroughly up- to-date car and even better than the Model “A.” strikingly in line with beauty, dis- general appearance As the tinctiveness and good taste, and the mechanical features and performance thoroughly tried and proven, there is no doubt that the new medel will find a ready sale. Model “C” is now in limited production, which will be increased as rapidly as possible. In the production and sale of the new model, the best engineering, production and sales organization will be Purpose of Financing The proceeds from the sale of this issue of stock are to be nsed to produce and market the new Model “C” car and for other purposes. » Assets The balance sheet prepared by Messrs. Harrington & Ryan, Accountants, of Wilmington, Del,, shows the net ‘worth of the company to be §1,801,359.01, after giving effect to this financing, equivalent to 00 per share on the out- standing stock, and the quick assets more than three and one-half times the current liabil es. The appraisal of plant and buildings has been furnished by the American Appraisal Company. Earnings The estimated net rofit on the present productive ca- pacity of the Moore plant is $500,000 per year, after depre- ciation, but before deduction of Federal taxes, equal to $2.20 per share on the outstanding stock. The plant facilities are amply able to take care of increased output. 1eys ot low, of New York City, en ewr behalf. ‘£'rml of William S. Hilies, Esq., aitormey Deering & Deering, Application will be made to list this stock on the New York Curb Market ‘We are receiving eubscriptions for this stock, subject to allotment, Price $8.00 Per Share WARNER & COMPANY Members New York Stock Exchange 11 Wall Street Thie information, whils met guersnteed, bues beeu ebinined frem seurces we believe rellabf New York, N. Y.