Evening Star Newspaper, June 26, 1923, Page 23

FINANCIAL. HINTS OF ANOTHER COAL STRIKE HEARD Lively Fight Predicted Over New Wage Agreement Now Being Drawn Up. Grocers' convention in St. Paul de- clared today they expected a slight recession in business to move sl westward from the Atlantic board, although reports of condi west of the Ohlo river continued to sbow business exceedingly active. First Bale of 1923 Cotton Is Sold in Texas, $1,275 Special Dispateh to The Star. HOUSTON, June 26.—The new cot- ton-crop movement of the United States has begun with the marketing of the first bale of 1923 cotton here for §1,275. Within the next two weeks ‘the movement from the Rio lley s expected to be well . The crop in that section ly good, and porduction there nrobab}y Wil exceed that of any previous season. The outlook in| other sections of Texas also is ex- cellent, and predictions are made that the state output will exceed 4,000,000 bales. Heat Slows Up Output | in Pittsburgh District pateh to The Star. BURGH, June 26.—Extreme heat s interfered to some extent with plant production In this indus- trial section. One tin plate mill has | been obliged to curtail operations 25 per cent, but in general the mills are operating at close to capacity. Steel j plant order books are well nilied, but repairs will be necessary soon after the recent period of rush production, and there may be a curtailment in} July. The recession in new business has not affected the market, which Is firm, with the industry rinning ea the momentum it gained during i'v peak buying period in April. Will Begin $8,000,000 0il Refinery Right Away Special Dispateh to The Star FRA. ), June 26.—Wol will begin at o o $8,000,000 ol refinery to handle export trade mid- vy between Long Beach I rding to El_Dohen: an-American Petrole | sret The plant when completed will have connection by pipelines with all southern California flelds. 'th ca ex: BY J., C. ROYLE. Special Dispatch to The Star. NEW YORK, June 26.—People who know the situation in Scranton, Wilkes-Barre, Pottsville and the other cities in the heart of the anthracite flelds are beginning to buy coal. Every indication, many of them sald today, pointed to suspension of min- ing September 1. They made these . assertions as representative of 150,000 United Mine Workers fn the anthra- cite fields zathered in Scranton. to formulate wage demands. The present agreement between miners and operators, which became operative.at thé ending of the an- thracite strike of 19 xtends only o August 31. At that time, the men returned to work at the s: as existed before the stri return was arranged on Kreatest dificulty and after a Stormy sessfon, in which the radical element among the miners fought bitterly to prevent ratification. So great was the tension at that time that John L. Lewis, president of the mine work- ers, burst into tears on the platform after ratification had been an- nounced. Men Differ Over Demands. Since that time the “boring from within” policy of the radicals has been foll ents of the an- the union grandfather's Speci ! PI of Hilisdale, rad William J. Bren- s’ right-hand man Several women well known in Eng- | 1.|lish society, including at least two ladies of title, are adding to their houses. 0 per cent wage icals are said to ix-hour day an Of Our First Mortgage Investments | are placed on the most con- servative valuation; never has one of our clients lost as much as a single penny in elther llect and remit interest the due, furnish insured title certificates. Cafi accommodate investors with amounts of $250 up to $5,000 or more, bearing 7% in= terest. “‘Invest ifi first mortgages and be safe.” Chas. D. Sager t more s consist- cranton convention will con e e Loan Dept. | M- 3 wili "taie, 924 14th St. Y will b SO AARAAAARAN. Home Furniture LOANS No brokerage charged. d let s explain our method been increased ¢ by the hot weather. De- res in the steel centers| rushing business, espe- | irgalns. are | tremendou: partment are doing ally where EllI||l|llli|llllillllIIIIIIIlIIIIIIIllIIIIu by stron brought Capital One Miliion Dollars 14th & H Stry LT «o\\hl CITP, *? EQUITABLE . ? Co-Operative Building TS Association d Orxanzzca 1870 Standard 0Oil Assets .. Surplus Serial 5% Gold Notes These notes will be di- rect obligations of the Company and will com- Systematic Savmg —is the most effective means of accumulating money. Results have established this fact. Join the Equi- prise its only funded table and save systematically and you Will_ accomplish in a fnancial way debt. more than ever. 3 19‘214-33( l;'mmntlles,?’l)- ere when Issued), Subscription for the sbloct o iammst 1o 85th Issue of Stock price, Being Recelved to yield about Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. 5.009, to 5.179, (according to maturity) The National City Company Washington—741 15th St. N.W, ‘elephone—2Main 3176 Save and Invest We have said that when you begin to visualize spouting oil wells, or dream of gold from mines, it's a good time to buy our Real Esttae Notes that pay 61 % interest and know that ‘ your principal is safe. SAFE INVESTMENTS WITH A WIDE MARGIN OF SECURITY, Paying 6 and 615% (PAYABLE SEMI-ANNUALLY) F Il - Shannon & Luchs First Trust Notes I | Il l Built on a Straight Line of Retum Not a Flnctnlfln‘ Value Sold in Denominations of $100, $500, $1,000 FULL INFORMATION (SHANNON - & LUCHS, MORTGAGE DEPARTMENT. 713 14th Street N.W. Bulton !trut Car Men Want 30- R“ll and the effect lltu s Bpecial Dispatch to The Star. BOSTON, June tion the wage demands of ti which be, The el mum of 91 cents an hour, an 1n- crease ts over the rate. n. radical nature of this vro- likely given ry concern by WAGE HEARING OPENS. ave in labor circles to more than .ordi manufacturers. HOPE TO SAVE MONEY BY UNITED MARKETING Bpecial Dispateh to The Star, Cent-an-Hour Increase. e hearings In ttle by arbitra- treet r @nd elevated raliroad employes, n today, were watched with interest by business men. ated workers demand a max!- Arkansas Cotton Growers' Co-oper: e ‘proceedings t trem. If You Believe in the United States, You Believe in Washington! Per 7 Cent REAL ESTATE FIRST TRUST NOTES We recommend these notes as a thoroughly safe place for the July funds of the conservative investor. Notes $100 to $1,000 THE IDEAL INVESTMENT ' "“@’{'KEIQ AND @@- INC. Main 2690 813 15th St. Nw / Da GILT-EDGE 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 irst and Second Trust Notes Warehouse Receipts and Make Construction Loans National Mortgage & Investment Corporation 811 Vermont Avenue N.W. ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randall I Hogner & Co 1207 M@IM“ GMafrfwflch 1889 In’Convenient Denominakions @%W Street’ Main 688_8_| Your Gl (0 FIRST MORTGAGES The Safest Security on Earth Every mortgage is less than 50% of the ready market value of the property 1. Absolute Safety. 2. Reliable Security. 3. Liberal Income. 4. Insurance Against Loss. 5. Protection Against 6. Prompt Payment of lntmsL 7. Repayments of Principal in Full at Mnhmt, Convenient Denominations—Write or Call for Information WILLIAM S. PHILLIPS First Mortgage Investments 1409 N. Y. Ave. NW. Reinvest Main 4600 MORTGAGE MONEY WE’VE got it to loan on new build- ings or— in refinancing of present loans. B. F. SAUL CO. Main 2100 | 1412 Eye St. N.W. accordin just completed. T to ai m.mb‘r- of the three | Every Banking Service COMMERCIAL 3% ON SAVINGS AAND TRUST COMPA 15th and Penna. Ave. BRANCHES. Northwest: 1140 15th St. N.'W. Travelers' Checks Letters of Credit t in.a saving to all|soc otatgs, The “l hereby nominate, constitute and appoint the American Security and " Trust Com]pany execufor and Trustee under this my last WJIH and testament.” MERICAN SECTRI Capital and Surplus, $5,400,000.00 Central : 7th & Mass. Ave. NNW. Northeast: 8th & H Sts. N.E. Southwest: 436 7th St. S'W. FINANCIAL. s 68,000 bales Missour! ‘as- represents. jation mber planting on uooo acres. Apartments— i Their Management. Experience has enahled us to lmprovc our KCI’VIC: as a result of coming into direct contact with all phases of this business. RENTS B. F. SAUL CO. 1412 Eye St. N.\W. Phone Main 2100 I . Public Utility Securities First mortgage, 5% gold bonds of the Ala- bama Power Company, yielding about 5.75%, due June, 1951. The Company serves over 80 per cent of the urban population and practically all of the large industrial power requirements of Ala- bama, outside of the City of Mobile. 5 Baker, Watts & Co. Bankers Counsellors in Investment Edwin D. Flather Manager 813 Woodward Building WASHINGTON Calvert and Redwood Streets BALTIMORE LY Foreign Exchange NEW ISSUE 30,000 Johnson Educator Shares Biscuit Company ‘CORPORATION Cumulatwe and Participating “Class A” Stock (No Par Value) Preferred as to Assets. Preferred and Participating as to Dividends. Cumulative as to Dividend of $2 per Share per Annum. Callable on and after May 1, 1933, at $30 and accrued dividends. Tuawsres Aczwrs American Trust Company, Boston First Trust and Savings Bank, Chicago Dividends February 1, May 1, Angust 1, and November 1 REGISTRARS Old Colony Trust Company, Boston Continental and Commercial Trust and Savings Bank, Chicago payable EXEMPT FROM MASSACHUSETTS STATE INCOME TAX AND FROM PRESENT NORMAL FEDERAL INCOME TAX CAPITALIZATION (Upon completion of present program ) Amthorized Issued = Cumulative-and-Participating ‘“Class A” Stock (mo w value) .. 100,000 Shares 60,000 Shares §i. *“Class B” Stock (no par value) ..eovvvnonennnn. cssesese 100,000 » 100,000 b NO FUNDED DEBT summarized as follows : History and The Johnson Educator Food products were == BC originated about 1885 by Dr. William L. Johmn, of Boston, who made the first Educator Crackers in very small quantities for use in his professional practice. Johnson Educator Food Company, to succeed which John- son Educator Biscuit Compu:zek being organized, was incorporated in 1902 under laws of Massachusetts. Subsequent developments have raised the Company to the ranks of the few really important biscuit-manufac- turers in the United States, and the name “Johnson- Educator” has achieved a national reputation i for the quality Of its products, of which there are at. pres- ent over 140 varieties. Many of these Educator brands . are admittedly without competition. : The new Company will own, u completion Ehperee of the present am, in mfl {reepof all liens, a modern, well-eq: lmy in Cambridge, Mass., covering approximat an acre of ground in one of the most desi man ing sections of Greater Boston, and a smaller factory in Newburyport, Mass. These properties, including eq t, have been appraised for the Bankers by Messrs. wood,Grun:Pi s Enginkers, of Boston and New York. They are to be carried on the books of the new at approxi- mately $520,000, while the replacement value is about Business : $640,000. The y also will own all manufacturing gl;em,fnde- , etc., pertaining to the Johoson ucator business. Dividends have been paid withont interruption e for the past sixteen years. Based on conditions like those in 1922, and on orders received and y indicated, mu.mhplorthetvdvem&sfdbmu [ the comj of the are estimated at two and one-half times the amount for the pay- mwtofflledivldadnthenteolslpushrepu Applicstion is expected to be made uunu'm.q-swbnmmmuanpmsmm For detailed information regarding this isswe, attention is directed to a letter (of whick copies will be furnished upon request) from Mr. E. F. Cullen, President of Joknsom Edwucator Food Company, to the Bankers, which letter he has annum on 60,000 shares of Cumulative-and-Participating “Class A” Stock. Dividends and The Cumulative-and-Participating “Class P " A” Stock will be entitled to preferential Yoting-Power : cumulative dividends of $2 per share per annum, from May 1, 1923. After such dividends and after annual pmvuion shall have been made for the pur- chase of Cumulative-and-Participating “Class A” Stock, $lpeshmpernnn\|mmybep-.idonlbe“chssB“ Stock, except that no dividend may be paid. on the “Class B” Stock that will reduce the earned surplus below $200,000. The two classes of stock will ipate equally in any further dividends.=“Class A” stockholders will be entitled to full voting-power whenever the new Company a!nllbemmmrspe:t of an amount equal to four q\nnu{ dividends and then until payment in full of all arrears of quarterly dividends. Purchase of An amount of earned surplus at the rate “Class A” Stock of $1 per share of “Class A” Stock out- ————————————— standing but not exceeding $50,000 nall{ prior to the payment of any dividend on the " Stock, will be a ble under the provisions of the Articles of Organization, after May 1, 1925, to the purchase and retirement of Cumulative-and-Participating “Class A” Stock if obtainable at $30 per share or less, Purpose of 30,000 shares of the Cumulative-and-Partici- pating “Class A” Stock will be required to Issue: retire the now-outstanding erred stock. The of the balance (this issue) be used to pay off a mortgage of $125,000, to y addxdoml wwhng capital with which to sion made thcywmgdzmnd(or pany’s products, and for other corporate purposes. Management : Mr. E. F. Cullen, President of the Com- pany, and the general personnel, who have been largely @uflfloforthesmnofthcbw ness, will continue with the Company. Al led-dunun to be approved by Messs. Rearick, Dorr, Bell, k & Saniry, of Boston, for the Company. Th The beoks of the Compeny kave ‘We reserve the right to reject any or bfl}: Marshall, of Nu York, for o s b, Wit ewdited b’ Messrs. Price, Water] Asuhsunfidpaflofl.hnbwemhzvlngbeamld vhn,undl!hmdudaqudbyus,ndmb)ec“nnwflbymml at $25 per Share (plus accrued dividends) to Yield 8% she Baukers, and by Messrs. Puinom, by& z_:.m Lockweed, Gresne & Co, o. for the balance will be received, S all subscriptions, to allot less than the ' amount applied for, and to close the subscription-books at any time without notice. 'iVIoi'g;m, Livermore & Co. 71 Broadway. New York Descriptive circular will be furnislied on request. - &23156h St. Nw Washington 35 Congress St. by us, amm-mfikhnw*k Pond & Company, Inc. Boston, Mass.