Evening Star Newspaper, May 14, 1923, Page 25

FINANCIAL, SAUNDERSTO SELL. 1% rebuceo FEW PGGLY STORES Dy the Associated Press. PITTSBURGH, Pa.. May 14, — i Another cut of 25 cents a barrel was s imade in the price of the principal grades Adopts New Plan to Pay Off, Bank Loans and Members of Stock Pool. of crude ofl, it was announced today by ithe purchasing agencics, new prices being New York Transit and Bradford dis- |trict, $3.50; Southwest Penn, ! Pipe Line and Buckere Pipe I. i ja!the burpese of pussing upon this pro- am.” M unders’ continued etain the Memphis : e ,,m.p\mru and_several other units and which he outlined the final program” in the Piggl) culty in making quick sales for Mr. Saunders’ plun, a ates in Clarks- | egardless of reports to the con- & and | trary. ‘1 am still in full control of ireen And the husiness and expect to remain or the sale of in that capacity until I am dea; P Alf unnn uf \lun-(\ & . in Sibec citisaisnanyistenipnll i order | “that all bank loans of the company First Mortgage Loans h-tl! Hates f Interest and Commisslon, Prompt Actien linters, compared with lint and 48,434 of linters on' 31" ihia vear, ana 5,215,483 of lint and 118,856 of linters on April 30 last car. 2 Exports during April totaled 262,753 beles, including 2,769 bales of linters, compared with 318,210, including COTTON CONSUMPTION IN APRIL FELL OFF Exports for Same Month Also De- cline, Census Bureau and 598,209, including 11,698 of linters - Reports. in April last year. Cotton spindles active during April|. numbered 35,615,791, compared with 35,000,618 In March this year and 31,- 389,695 In April last year. NEW BOND OFFERINGS. Washington Gas Issue One of Most Important of Week. NEW YORK, May 14.—Important new bond offerings during the past : $7,860,000 6 per cent vne- to-fifteen-year eguipment trust cer-| tes of the Erle Railroad Com- at prices to yleld 6.50 to 6.05 Cotton consumed amounted to 396 bales of lint and 62,192 of linters, compared with 623,- 105 of lint and 51,745 of linters in March this year and 443,609 of lint and 49.287 of lnters in April last s the census bureau annuonced during April ¥ today Cotton on hand April 30 in con- ming establishmenta totaled 1,389, bales of lint and 180,880 of linters, mpared with 2,034,635 of lint and .509 of linters on March 3§ vear and 1,461,340 of lint and ©of linters on April 30 last yea Cotton on hand’ April 30 | storage and at compr tif 1 bales of lint d 5 Dean, Onativia & Co. Stock Exchange Building New York STOCKS 8,347 of linters In March this year|y, per cent, according to maturity; $5,- 000,000 § per cent thirty-year farm loan bonds of the Kansas City Joint L-nd Bank at 1023, to yield 4.70 to X per cent; $4,000,000 8 per cent bonds of the ht Company, at $3,600,000 8 per cent forty-four- first mortgage bonds of the Ten- ssee Electric Power anpany at 943, to vield 6.45 per cent, and $2.- -500,000 612 per cent fifteen-vear con- vertible debentures of the Penn Pub- lic Service Corporation, at 97, to yleld 6.80 per cent. —_— The average length of human life in the sixteenth century was only eighteen to twenty yea: LOANS If you aave money to invest, we can safel; it on ';I!-edwrn 5‘.“& 30 years insures your pro- mhon. Courteous treat- Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. MORTGAGE MONEY ‘(‘,’l‘ VE got it to loan on new build- ings or— in refinancing of present loans. FINANCIAL. You can save Money and be Relieved from Worry by Intrusting your Properties to us for Management—If your Time is of any Value. RENTS That’s Our Business B.F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 Quotations By Radio Daily at 10 o'clock from Sta- tion WIAY of Woodward & Lothrop the latest quotations will be broadcasted. Rates by Lmukr wire from New York pecial phone. Foreign Depar~ ment, M. 8222 The Washington Loan and Trust Company 800 F Street 620 17th Strest and BONDS N B. F. SAUL CO. Builders of Washington New York Cotton Exchange Main 2100 1412 Eye St. N\W. Chicugo Board o Trade | 4. New York Produce Exchange Myrs. Martha Fairchild Money to Loan | secure, tate. bodrid| ng_ interest and commisslor or the | Joseph I. Weller 42 meeting | oo et dred of trust oo real y h 4 £ New York Stock Exchange purpmm of calling Chicago Stock Exchange of stockholders of INVESTIGATE” Fuckes 6o FIVE | More days in which to buy in- vestmient units in the Distzict Guaranty Corporation units are one of the safest and most attractive in- vestments ever offered the Wash- ington public. Associate Members of Minneapolis Chamber of New York Curb Association Commerce WASHINGTON OFFICE: Main Floor, Woodward Building Office Open Until $:30 P.M. Phone Main 2040 JOHN CALLAN O'LAUGHLIN CHARLES R. ALLEY Manager Assistant Manager EFORE old Mr. Fairchild passed away he was known to have been a thrifty man,.not so much on account of his income, which was moderate, but because he always saved a certain proportion of it. When Mrs. Fairchild flound, on his death, that a large part of these sav- ings had been invested in our First Mortgage Notes, she felt secure in that her principal was safe and, her income assured. Quicker Than Radio? “Thoughts,” simple answer. Have you “thought” of the value to yourself and the real satisfac- tion which a checking account or saving account will give you? Have you thought of the se- curity of a Safe Deposit Box for your valuables, accessible at will or for safety during vacation, at a cost of $2.50 and upwards per year? Let one of our officers at our most convenient location explain these matters to you. Merchants Bank & Trust Company Capital and Surplus. $1,250,000 it s 15th and H Streets N.W. i Branches: Dupent Branch, Dupont Circle Brookland Branch, 12th and Newton Streets N.E. “Double Your Savings—It Can Be Done” You Want Protection for Your Cash —and Washington’s OLDEST Bank is just the custodian to give your PAYDAY SAVINGS 1007 efficient care. They are sold for cash or upon payments and are an ideal per- ment_investment for your savings. WilliamBWestlake w FISCAL AGENT ' 728155 5t ow Tel Hain6T4 | And she further realizes that intre- investing this money from time to time, she has become one of the build- ers of the city, as her money is being used to provide homes for the better class of people living here. 1 i y § The principles upon which this in- R N stitution operates have stood the test S of over a century of uninterrupted service and insure enced management, You, too, by such investment, can, with her, feel secure as to your sav- ings and at the same time be one of the potential builders of Washington. Vrguuized o 18ie. safety, experi- permanency. T GEQRGE W, MORTGAGES 7 As little as One Dollar will identify vou with our thriving Savings Dept. We invite you to become “one of us” THIS PAYDAY. - LoRiEs KOoRE DIRECTORS: ARTHUR T, ’llCE o WALTER BROWN: FREDERICK DeC. FAIIST WM. F. GUDE E. rumcxu B1008 CHA‘LI:! JACOBSEN WM. SAUNDERS H. P. JOHNS! HoHntat T BEANNON H. C. SHERIDAN Invest Your Savings HETHER you have $100, $500, $1,000 or more to invest, investigate our First Mortgage Loans on Washing- ton Homes before placing vour funds. 727 152 Street NW. 54Y Without Loss t. I R ies Tk Az 3% Interest Paid on Savings pal s olaniinuesion TOWNLEY A McKEE o. National Metropolitan Bank Capital, Surplus and Undivided Profits, Over $1.700,000.00 15th St. Opposite U. S. Treasury—109 Years Old Never a Loss Our conservative business wmethods have so perfectly pro- tected and safeguarded the funds of our investors that not a single client has ever lost a dollar of principal or interest on any investment purchased through us. Send for Selected List. Let us send you full in- formation concerning our First Mortgages and our methods of handling them. No obligation. Wm. S. Phillips Mortgage Loans Phillips Building § >15th and K Sts. N.W. EQUITABLE Co-Operative Building Association Organ:zed 1870 434 YEAR COMPLETED -Assets ... . .84,657,959.56 Surplas . - .$1,180,880.91 Save as You Earn ~Adopt the systematic savings plan of fhe Equitable and you will accomplish ‘more than ever in & financial way. | fimmnmmmmmmmmuwmuumumumnmumnmnmnnmmnnmnmnm; ‘ New Issue $4,000,000 Potomac Electric Power Company WASHINGTON, D. C. General and Refunding Mortgage Gold Bonds Series B, 6%, due 1953 Our New Northwest Branch The American Security and Trust Company i = ? Dated April 2, 1923 Due April 1, 1953 takes pleasure in announcing its opening Today. Interest payable April 1 and October 1 at The National City Bank of New York without deduction of the Normal Federal Income Tax up to 2%. Coupon Bonds in denominations of $100, $500 and $1,000 registerable as to principal only and interchangeable with fully registered Bonds in denominations of $1,000, $5,000 and multiples of $5,000. Redeemable at the option of the Company on any interest date on thirty days’ prior notice at 10713 on or hefore April 1, 1933, at 105 thereafter to and including April 1, 1943, and at 102% thereafter prior to maturity. THE NATIONAL CITY BANK OF NEW YORK, Trustee 1. Located at 1140 15th Street. (Security Storage Building.) . Facilities for handling checking and sav- il ings accounts. | L . Available parking space. laxuancr authorized by the Public Utilities Commission of the District of Columbia The Potomac Electric Power Company does the entire commercial electric light and power business in the City of Washington and adjoining communities, serving without competi- tion an estxmated population of 475,000. The Company 's corporate powers and its right to operate in the District of Columbia, in the opinion of counsel, are without limit as to duration. . In a rapidly growing business and hotel neighborhood. . Hours: 8:30 A.M. to 3:00 P.M.; on Ist, 15th, 16th and last days of month until 5:30 P.M.; and Saturday, 8:30 A.M. to 12 M. (Noon). Subscription for the 21 84th Issue of Stock ' 3y Being Recelved vSlures, $2.50 Per Month | EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presideat FRANK P. REESIDE, Secy. EARNINGS 12 Months Ended March 31, 1923 1923 #5,062,587.98 $5,342,005.62 2,649,211.72 2,824,683.39 Gross Earnings ... Operating Expenses, Lurrem Maintenance and Taxe COMMERCIAL 3 % ov savines $2,418,826.26 $2,518,812.23 Annuat Tnterest on $12,636,200 Bonds requires - 719,454.00 Balance for Depreciation, Dividends, etc. QIXTY-FIVE Million Dol- lars of Victory 4%s called - (ast December are still out- tanding, due probably to the inexperience of many holders, who do not understand that interest has stopped. The maturity, May 20th, of the remaining Victorys will also undoubtedly be widely dis- TRUST. The Mortgage provides a Sinking Fund requiring semi-annual payments equal to at least 4 1%% of the bonded debt, and in addition, a strong reserve fund for the maintenance and renewal of the property. Including the present issue, the bonded debt of the Company with the public is less than 60% of the value of the phymcal properties. Price 10115 and interest, yielding over 573% Bonds are offered when, as and if issued and received by us, ahd subject to the approval of counsel. ticipated that temporary Bonds exchangeable for definitive engraved Bonds ‘when available will be nldy for delivery on or about June 1, 1923. Harris, Forbes & Company n large investors and estates often lose interest on called bonds, not through fo- rience, but through lack of knowledge of the call. It is part of our servies to wateh cargfully Roldings of which we have record and 15th and Penna. Ave. Capital and Surplus, $5,400,000.00 BRANCHES Central: 7th and Mass. Ave. N.W. Northeast: 8th and H Streets N.E. Southwest: 436 7th Street SSW. Northwest: 1140 15th Street N.W, 1t s an- The National City Company Crane, Parris & Co. W. B. Hibbs & Co. m-mm-mmmbmmm ments and statistics an whick we have relisd in the gurchase of thess Boads. WasHINGTON 408 Hisss BLDG. Teloshone: Main 2658