Evening Star Newspaper, June 15, 1923, Page 27

-FINANCIAL. |sugar beet crop of this state today|a bright, clean pink with a yellowish | STONE & BSTER dustrial district. The Ford plant will | several large New York stock ex- g & 1 shade. , ¢ : ~ IRGINIA RAILROAD COMMODITY NEWS | |iyeztimated at g1.vey cont of normal o 3P g e AN | onSnaone. and diutes sro | Shatee Smmmes i brer v | | Momeybo Logai | year. High rices for sugar have HOUSTON, June 5.—The condition of lom 000 FORD PLANT ects will provide work for 2,000 raen fcounts: for ' conmsolidated ‘exchange | ¥ gh p A "y | r oy, GRANTED cHARTER WIRED STAR FROM | ¥imulated planting of increased &;Tpxnber:lnxrnmz:!%hb?n off during { within six weeks. h:"okers had been instructed by au- | Nfi ‘ ! z acreage. + has n fmproves recent rains : e thorities: of ig" -exc e to ]? | m S R ENTIRE COUNTRY & ol and 'the condition of cattle, according . PAUL, : | e s ST @IeCony | i " | | TROIT. June 15.—S al auto- |t0 rlxpo;lal of ‘overn’man( of!lc,l;}l,- today, c of suc! o )unffi W g ! Thguklin & Carolina Lime Hasi ©rrc e 15—The Kan- o acach Ford tos {ment to u?:rkel‘!o far'is about 30 per 532”1,‘1‘},‘:?“; High Dam, near here has Nes 1 OF Ggageg ] sas Southern ri ay an- is moving cars at the rate of [cent of that for the corresponding |& L work-today on.the power house v | 2 $100,000—Connects Two as City Southern rallcdad itoday an NI Care A e e oy [period last year. Galf pricés are up|and Auxillary steam plant. The S.|Stock Exchange Not Meddling| Whoily wittout ‘fo ne 3 { Counti nounced the purchase of ten mallet- | 2000, (475 \ew high in the last month |$20, to $22° being ‘pald for animals | Paul begun layin AR | Sfont il Boor cacue d: [ Yy ounties. type locomotives, which will be put 000 machines. The Nash |Weighing around 300 pounds. Y trict to carry supplies, Withj Consolidated. } Satrxio - 2 e ! | instructions of the major organiza- 1334 -H-ST.NW! i Y] b BTSSR S h service hauling grain from Kansas | Pl ned out 1,073 more car lines are being ex ERE - NW i s AUl b | P ed to handle traffic into t June 15.—Reports that | tlon. Sy TR AT May than in the same month of RN 3 Trphe Associated Pross. j 15y to Rbr UL S and had orders for 1,800 more than BUMPER WHEAT CROP. 3 CHMOND, Va. J.::x:“’:‘; “'I;l:v S EURGE. [T s 1 e eaty-too | ers turneatont . w‘},‘va“,‘;s:;mc‘;' é\u’;r&}io ogo‘m:“m,:;"_‘c‘ (8te | SAEDAYRHION l“‘"‘,__".; lin anma|Set-up garages are in extensive de- | KANSAS CITY, June 15.—Damage to | the Weatern provinces' was predicted terday chartered the Franklin and{mand here today. Concrete blocks | wheat and other ¢rops by storms in this | by J. R, Craig, president of the Win- Carolina Railroad Company of Frank- | are being used on a large scale in | section has been severe, but an accurate . R, 3 arage construction. Concrete block 2 nipeg Exchange, on his return from lin, Va. The company has a max-|&arag e - a three-week motor trip through . makers, with the general building < L imum capital of $100,000 and a min- | prttTE oLt have more business ol . Saskatchewan and Alberta. imum of $25,000. Eight miles of rail- | than they can comfartably handle. | goine torward and it is estimated today way will be built by the concern, it JEW o 3 5 a that fifty thousands harvest hands will - % S lne W .| NEW ORLEANS, June 15.—Manu- 3 e \vas stated The new line Will eX|,cturers and jobbers today reported | be needed I - end from Franklin, in Isle of WIght | parked improvement in the number 7 | Home Furniture : At Twenty-five » to Weynoke, in Nansemond| (%0, fors for shoes received. Most of | WILMIN . dune 15.—The | . = these v immediate or early |13 L dul h rs Company hus OMmcers ot e compdny are: il Al g Few retail re showing u a new dye | G Ll | m to buy ahead v i 8 pink, suitable it ‘o > i oods, linen and urer; ) ; SAN FRANCISCO, June 15.—T artificia ks. The color is The Safest Security on Earth Visualize 1 l"ull t i 1 { eral superintendent. and T. D. - ot oF maiig Yourself at Fifty age, general counsel We offer, subject to prior sale, a limited Fizancs Cer Ouver a [ Loan & ration | | & - i *NEW LIFE INSURANCE Fll‘St Mortgage L()ans- e Coietis “%-!-“--'s'!"-a-.m Qiisstor Without Having Employed issue of First Mortgage Real Estate Loans t 7% interest, secured on well selected, newl BUSINESS AT RECORD q : i s A b u 4ES_S_¥ Made On Improved Properhes ofia T'he Habit of Savings | constructed residential property in Northwest i ool (Including Residences) EQUITABLE Century Washingto. Call or write us for full informa- 2% Eer/CentioNer | In the District of Columbia Co-Operative Building Without BUY FIRST MORTGAGES Il tion concerning these loans. Figures. —— - png 5 1/ 2% IntereSt i «a :I;:::;‘u;-%?rmn . .84,657,959.30 -$1,180,880.9] i Reasonable Annual Curtailments Required i ; i - . | CONVENIENT DENOMINATIONS ¢ | Loans for Less Than $50.000 May Be Paid in Whole or in Part at| S ,,,‘..,,‘s,“,'“',“g, : B. F. SAUL CO $100 5250 $500 $1,000 i : i T . g . | 'Any Interest Period Without Charge Tesults have RN Ask for Descriptive Booklet “S"—~It's Free Subscription for the Main 6888 912 15th Street 85th Issue of Stock First Mortgage Investments Loan Correspondent for the i Being Recelved | 4 Prudential Insurance Company of America Shares, $2.50 Per Month 15th St. at K St. N.W. Main 4600 SEABOARD AIR LINE = EQUITABLE BUILDING ~ CAR LOADINGS GAIN| - 915 F St. NW. NG T Al Bie s e NO LOSS TO ANY INVESTOR IN 50 YEARS JOHN JOY EDSON. Prestdent A ' $50,000,000 | /l\ e B lllinois Bell Telephone Company x 2% " Service 1 First and Refunding Mortgage 5% Gold Bonds, Series A xpected it s expected 1o Few terms, constantly used in | Dated June 1, 1923 ; Due June 1, «356 show & reduction in car rentals, Sim- business, have been applied in such | Interest payable June 1 and December 1 in Chicago or in New York City flar results probably will be shown R e Reservations Accepted Now a varicts of meanings as the word || || iy e L e service. While there o , $100, registerable as to principd. for July Fun ds ways of saying the ume‘l’:in:.. e Registered bonds in denominations of $1,000, $5,000 and $10,000. Coupon bonds and regis- | | | this year, as well > said | George T. Wight, manager of the soclation of Life Insurance Pr dents. i —_— GELL A PART | i ice, i tered bonds, and the several denominations, interchangeable. I WILL SELL ANY PART { believe that service, in its true ) 7 8 business sen Zas been best de- e et l 000 Mi“ r ! EXAMINE at your leisure the booklet describing {1l fined as “‘omtracing all activities Redeemable, at the option of the company, in whole but not in part, 2 € our current offerings, make your selection as to issue {{] oo the part of the seller for the | upon 60 days’ notice, on June 1, 1928, or on any interest date there- | T 3 C and maturity, and reserve the investment you desire i {| advantage of the purchaser that after, at the following prices with accrued interest; if on or prior to rain ontrol - Il FOR FUTURE DELIVERY if your funds are || are not essential to the mere com- [} ¢ December 1, 1952, at 105%, and if subsequent to December 1, 1952, pletion of a transaction.™ at par. not available at this time. At $1.65 | NO DEPOSIT is required on investments reserved ‘ First Trust and Savings Bank, Chicago, Trustee for 30 days, though upon payment of 10% of the R | Th?‘l?zaé SL' NHume purchase pr'icc resservagzns Fm;y be made for longer Th o | W. R. Abbott, Esq., President of Ilinois Bell Telephone Company, has summarized as follows his t. 2 W i periods. All paymentsdraw 6% interest from d & e Sppor = o letter to us stating the particulars in regard to thie issue: 4 & ¢ e o s e the eaceche ob sarv Tllinois Bell Telephone Company doss all of the telephone business in the City of Chicago and received ice in the business : 5 ! Loy, g0 o l: A one ' to’ == . g g e owns and operaies o comprehqnawe system of exchanges and toll lines serving, with its connécting y Loan If you wish to pay in installments our Investment e sacutiilasis ! companies, practically the entire State of Ilinois. o, Secursg by frat Goed of trast on real entate. Saving. Dianaffoal atneansiar ing 614% B ults largabie: These bonds are to be secured by a first mortgage on all the real estats, buildings and telephone Joseph I. Weller {2, Wegh, I, & Tumt e e e GRRVA MeaxonNgY é AD Coll(‘ e e rlied | plant of the Company in the State of Illinois, with the exception of certain property recently ac- e 5 —— B by el i ively 1 life of quired from the Southwestern Bell Telephone Company at a cost of approzimately $843,000. “We” GUARANTEE of principal and savings bank in- alinl iy tE Upon the satisfaction forthwith of the existing bonded debt, including the $19,004,000 First terest in the event you are unable to complete the s ’ Mortgage 5% Bonds due December 1, 1928 (issued under the mame of Chicago Telephone Com- —have on hand, ready for im- p gotiability, their com- : = = o mediate Gelivers " about “thirty || purchase. Slicsied mature: and }J’rlzny). umrii ””; tr;lmregmné n{,SIg%'lgd;goghgee-_yea; 5ch f‘/insecm’-cd nofss tnf t’},:“. gompauy. fro;n housand dollars in gilt cdge EAh ot i e 5l e proceeds o esc Bonds, the £50,000, Series onds will constitute the < ! 70/ Denominations: $100, $500, §1,000 1 thepe "::::'" S | fum];ea' debt. In comparison therewith, the book cost of the real estate, buildings (;mn’dmtzll/e;hso(;: e l;las:m-mcs.-z years to 15 years Arssisons: | plant of the company was approximately $133,000,000 on March 81, 1923, and the total assets Fiost Mottgage. Motes ‘ederal, State and D. C. Tax-Free Features o amounted to over £143.000,000, which figures will be substantially increased by the balance of the in Amounts of $250 Call, write or phone Main 6464 today | nrm‘e.edsrnf :}:;.) if;s‘iq? lotllw 1!;ili;i§a§a;faz%difgonf :;dt betterments. The present value of the Com- any s 0] § rea ¥ 1 00K 3. Up to $7,500 for our current offerings booklet Goodlintiec it Mreieetaiginerii) pomy & prOperLy < g ¥ . e s boc s : A i s e The situation with respect to the company’s franchicss is generally satisfactory. A franchige a | JfjAd (o mn g, omongre L for the City of Chicago was granted in 1889. In 1907, a new franchise w ted 22- | PR i d %G F.H.SMITH Co. the following | Vear period, capiring in 1929, and there is no reason to believe '{h'a: it w01l fafl?r’mfo:damzn ¢ nsurance policles issued ] satisfactory basis. The existing franchise contains a provision giving the City the right, ot the ex- jEtoaell cusiodna. %undedmfls | Intelligent, well-in- ! piration of this franchise, upon giving twelve months previous notice, to purchase the property | FIRST MORTGAGE INVESTMENTS formed salesmen. i bf the Company locoted within the city, paying therefor in cash the cost of duplication at that date P Cl'l D S 1414 EYE STREET, N. W. { less depreciation, but without allowance for earning power or franchise value. On March 31, 1923, d as. . Dager Prompt, cearteous the book cost of the physical property of the company located within the City of Chicago was in | M. 36 924 14th St. M. 37 and accurate confir- i excess of 892,000,000, which cost is much less than the present value of the property. I Mortgage Investments ! NO LOSS TO ANY INVESTOR IN 50 YEARS i :";l,"“" Silling and i The income account of the Illinois Bell Telephone Company for the past ten years has been as — R | elivery. | foltows, earnings prior to December 1, 1920, not including earnings from the properties them pur- i chased from the Central Union Telephone Company: Main For full particulars apply | Loan Dept., Gei | Definite information, i 5 8 'f'.f..,'f.';:.."?f..:',';'i.'. i Year Bnded Goouy mevenues .::'? ""‘"‘::_'..: Interast Not Tncome and redemptions af- HH 1913 $15,551,536 $3,605,968 $969,414 $2,636,554 fecting the custom- | 1914 16512418 3,523,671 953,075 2,570,596 | i leenritiess ! 1915 17,711,855 4,122,569 959,521 3,163,048 W h en Y ou S en d | 1916 19,769,568 4,386,750 981,165 3,414,585 p I Prompt reportaas to ! 1917 21,651,494 3.541,569 1,093,571 2,447,998 i the nature and in- i 1918 : 4,314,084 1,079,189 . 3,234,895 D ll | herant status of any i 1819 * 4,031,842 998,663 31033179 a QLliar security requested, ! 1920 33,361,416 2,697,843 1,271,383 1,426,460 with advice and rec- i 1921 44,748,392 7,668,279 2,042,327 5,625,952 7 . > dation. to You are spending the income for one day on $12,000.00, holders. = | Boageity ":“9"22";“’“.1 m;‘,fi;ff,",’,’,?,,f,,,.,-.,. 08',4’2:,.56‘5 2:072:036 8-353,629 IFor this amount at 3% interes S i- ally , earns one dr;l]ur _ild,l’\i interest compounded semi-annually Thorough knowl- During the past ten years the company’s net earnings available for interest have averaged over edge of markets and | three times the interest charges and in mo one of these years have they been less than twice such \ 5 g quick quotations. interest charges. During each of the years 1921 and 1922, net earnings available for interest A man’s earning days are not usually prolonged to the } amounted to more than three times the annual interest requirements of $2,500,000 on these Bonds. period of his life. To insure future independence, start a Constant circulariz- Adequate charges have been made annually against earnings for. depreciation_and -obsolescence. savings account with this bank now ing on matters of A . The Company has outstanding. $60,000,000 var value of capital stock (to be increased presently ; genuine importance | ¥ to $70,000,000), more than 98% of which is owned by the American Telephone and Telegraph We I > . to bond holders gen- . Company. Dividends on this stock, as outstanding from time to time, have been paid in every year e Issue Travelers’ Checks and Letters of Credit erally-in addition to - since 1881 at the rate of at least 8% per annum, which is the present rate. the regular offeti v The mortgage will provide for sinking fund payments to a trustee at the rate of £250,000 semi- COMMERCIAL of specific securities. { : annually, beginning December 1, 1923, such payments to be used in purchasing Series A Bonds, if obtainable at not exceeding par and accrued interest, otherwise to be used for capital expendi- 3% ON SAVINGS | ture with respect to property to be covered by the Mortgage, and against which expenditures no Bonds under the Mortgage will be issuable as long as any Series A fionds are outstanding. _ The issue of the Series A Bonds has been authorized by the Illinois Commerce Commission. ‘We believe our customers are en TRUST titled to service of this charact: The above bonds are offered for sub_smm au!horg':ats’:m and to issue as planned and that there is a definite r. and to approval of legality by counsel at 95Y4,% and interest to yield over 5.0 per cent. sponsibility on our part to provic Ui ———— ¥ T" it. Weare fully equipped to do s« Subscription books will be opened at the office of J. P. Morgan & Company, at 10-0'Clock A. M., / y v Priday, June 15, 1923. The right is reserved to reject any and all applications, and also, in any e AND PAN — case, to award a smaller amount than applied for. The amount due on allotments will be payable —————4—.—_—3_— at the office of J. P. Morgan & Company, in New York funds, the date of payment to be specified 15th and Penna. Av. | ¥ in the notices of allotment, against delivery of temporary Bonds, exchangeable for - definitive A s | Bonds when received from the Company. g Capital and Surplus, $5,400.000.00 { Chicago Telephone Company Furst Mortgage 5% Bonds due December 1, 1929, with final coupon GRAHAM, PARSONS [ attached, will be accepted in payment at 100% and accrued-interest to date of payment. el R %Co. | | J.P.MORGAN & CO._ " KUHN, LOEB & CO. Northeast: 8th & H Sts. N.E. 405 Hisps Bog. | KIDDER, PEABODY & CO. : Southwest: 436 7th St. S.W. WASHINGTON ,F?SEE%T%%%& ggNg, New zork gllig NAT%%%%II;IE’:ITY %%ngég\‘} e Northwest: - 1140 15th St. N.W. Philadelphia New York BAN ., New Yori RAN ANY K Wi Wb P HARRIS, FORBES & CO. LEE, HIGGINSON &£ CO. Scranton _Trenton Camden Dated June 15, 1923