Evening Star Newspaper, October 31, 1923, Page 28

FINA BANKERS PLAN BIG ADVERTISING DRIVE ‘Anxious to Get More Invest- ors by Giving Expert Advice. BY J. C. ROYLE. Long strings of idle dollars are sldetracked throughout the United States. That fact has as great a bearing on the general industrial prosperity of the country as long strings ot freight cars sidetracked and idle, according to investment bankers. Members of the Investment Bankers' Association have under- taken to move those idle dollars on to the main lines of safe and profit- able investment. Their determination to this end, according to officlals of the associa- tion, now in session here, will find its first expression in a campaign of publicity and education largely con- ducted through newspaper advertis- ing. Bankers Plan Campaign. “There are three professions at present which are most intimately connected with the affairs of the American family,” said John W. Mc- Gregor of Pittsburgh, chairman of the publicity committee of the associa- tion, today. “First, there is the priest, the minister or the rabbi. Second, comes the tamily doctor, and then the lawyer. To them are referred the moral, physical and legal problems of the average citizen. We are de- te-mined to prove that the barker, as a financial y to stand with the others and his services are of equal value. tndoubtedly the message of the legitimate investment bankers will be carried to the pubiic through the me- dium of newspaper advertising. Even- tually it witl result in a great volume of this kind of publicity. But on their part the newspapers must prove themselves worthy to carry this mes- sage by keeping their financial pages and their advertising columns clean. How to Avold Swindlers. “This is not demanding a sacrifice on the part of the publishers, as it is 4 simple problem in mathematics to prove. Over two-thirds of the money spent in cach community is spent Wwith firms on which the newspapers depend chiefly for their revenue. If 4 fraudulent investment scheme takes $100,000 out of a community $66,000 Iess will be spent with legitimate ad- vertisers. In the long run this will Teflect a loss to the papers which will n counterbalance any gain by-night advertising.” The bond houses throughout the country look to the newspapers for assistance not only by exposing fraudulent security offerings, but by printing accurate information. The trend toward increased public inter- est in financial and investment news already is re according to Thomas N. Dy chair- man of the legislative committee and e of the men chiefly responsible fur the passage ot curities act. Few ‘who kept in touch with investment markets and conditions through the Bewspapers were stung by swindlers, Financial Pages Studled. “The wide distribution of liberty bonds during the war and the newly developed tendency toward invest- ment have stimulated the interest of hundreds of thousands of newspaper readers who never looked at a finan- cial page before,” he said. "I know of one recent instance when a group of business men had an_.important announcement to make affecting the community at large. They were as- sured by their local papers that Its importance would give it a position on the front pages, if they wished. Instead, they asked that it be printed on the financial page, on the ground that that page was the most care- fully read of any in the paper. Naturally, the business which in- vestment bankers and bond houses NCIAL NEW YORK CURB MARKET Recelved by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN. | in the buying despl Special Dispateh to The Star. NEW YORK, October 31.—Coal stocks and traction issues came in| for a good deal of the buying today | on the curb market. The motors suffercd some further slight decline, but were not as weak | as on the previous days, 'while the | oils, after early unsettlement, hard- ened in the afternoon. Glen Alden moved up to a new high for the present movement and Wwas within a fraction of its best prices of the year. The low-priced southern coal and iron advanced al- | most 10 points on a large turnover. | The only cxception to the upward movement in this class was Reading, | which lost a point overnight. Hudson and Manhattan and Brooklyn City prominent was checked as the result of reall: ing sales. This stock had been co sistently bought, advancing 17% to above 20. in advance here was slight. Corporation crogsed 40 for a gain half a point, while Park & Tilfo did _little. Declines the ~ mot in point @nd were confined to Dura; and Checker Taxl. Another slight increase Wwas I ported in domestic crude output, b the market had ceased to be’ sensiti in these slight changes. Prairie O and Gas .opened higher, sold oft b fore midday and rallied about points in the late afternoon. Roy: | aliroads o 'In for attentien on the buying side. NEW YORK, October 31 —Following is an official list of bonds and stocks traded in on the New York curb market today. Bales in thousands. 4 Marland 14 Mex Oi1 1 Mex Panu oy =32 Alum_ 75 vew '33. 11 Am ~otton 011 #x 8Am T & T 6s '2: 18 Anaconds 6s . 6 Ay s 38R e0x! TREEFEFEE 8 Nilt Ck Ps 8 Sapulps Refin 39 Seaboard Oil 1 Okla Nat Gas. 153 8 1 Alum Mfg . B 15 Amer Type Fdrs pf 98 3 Archer Dan Midland Bklyn City R R Buddy Buds 1 Car Light ........ 3 Centrifug Tron Pipe 1 Checker Cab Mfd A 13 Candy Prod Cor wi Dubiller C & R Durant Mot 1 Detroit City ¢ 20 Dunlop T & R Federal Sug 65 '33. Body fix '2% eneral Asphalt Ss. eneral Pet 6x E S 4 Lehigh Power . 1 Libby McN & L 7. 1 Morris & Co Ths.. 2 New Or Pub Ser [ I 5 Du Pont Motors. 10 Federl i 2 Vacuum Oil 7s...... te weakness in local traction bonds. The rally in Hudson company preferred 7 n- from The upward tendency predominated {in the recent nfi([lvcnsxae'cml‘:‘ll\;l n?el r Radio, the type of Dubilie) ptiae of rd or stocks did not extend beyond a halt nt .- ut ve il - 10 al Canadian and Southern States came 1 King of Nether 6s.. 1 Russian G s ofs 3 Swiss Go 18 Swiss Goy STANDARD OIL ISSUES. Margin of Security , L Z We Demand to Safeguard i Clients Investing in Our 7% First Mortgage Notes Insures absolute safety under any and al conditions. It also our established ving lost in either principal as a single penn: Sales in units 600 Anglo-Am_0il .. 10 Buckese P L | m Oil & il of Can 0d P L .......... 3600 Interna Pet (o Lid 15000 & O Tnd 10 Sonthern ¥ 1 300 & 0 S 4 2800 8 0 N ¥ now F1EH Sales INDEPENDENT OIL STOCKS. Guaranteed ti in hundreds, furnished with all notes. Notes of $100, $250, up to $5,00! Now on Hand For full particulars apply 0'Donnell, Loan Department. CHAS. D. SAGER 924 16th St. N.W. Main 36. to Livingsto: 29 Guif States 0 R — | (i, T amount o i record of or y. nd Insurance policies Mr. Open for Savings De- positors’ Convenience until 5:30 p.m. Today —and TOMORROW. Extra hours so nothing need stand in the way of your bring to the newspapers is going to be spread on clean pages. No repu- table and legitimate house is going to have its announcements of bond issues and investments placed side by side with the advertisement of a concern which it knows or suspects to be fraudulent.” Will War on Fraund. “The movement instituted by the as- sociation and its members is going to . Lian destructive,” Fenhagen of Balti- the fraudulent ad . i’ - sixteen regional committees, covering prac- Tty ail 0f the United States, will con- tinue their work of forcing spurious - Yestment schemes from their respective fields. “But that in itself is not enough. The safest way to keep an investor from losing his money is to show him how to save it and increase it through safe and legitimate investment. It does lit- tle permanent good to warn him against unsafe investments unlese he is shown what constitutes a good investment. In carrying on this work of education our members surely will select those mediums of approach which lay great- est stress on accurate and rellable financial news and which are closed to swindlers.” Equal stress was placed on the neces- sity of constructive development of new investors by Samuel O. Rice of Chicago, educational director of the association. “You cannot grow a garden by always harping on thistles and choke weed,” he said. “Tremendous possibilities for the expansion of industry and commerce exist in_the development of new in- vestors, but the greatest appeal is that of seif interest.” EX-DIVIDEND TABLE. November 5— Cont. Can., q. Crucible Steel, Ford Motor of b re nes more, chairman of ¥ 5e 5 RAR /] o) Seacars et B LEE] FOR SALE 100 Common and Preferred National Mortgage and Investment Co. $1,200 Address Box 37-Z, Star Office FOR INVESTMENT FIRST | MORTGAGE LOANS D inati $100 to $6,250 Interest Rates 64% and 7% 4 All loans secured on modern homes and busi- ness : property. in best > northwest sections of the city. - Ask for Information | RIS CAFRITZ [ Mortgage Department 1 913 15th St. NW. Main 617* making your customary Pay Day ad- dition .to that “opportunity fund.” Initial savings deposits of One Dollar, or more, are welcomed. Organized in 1814 AR N0 € Our Savings Deft. Pays 39, Compound Interest National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St., Opposite U. 5. Treasury—109 Years Old A Free Booklet —that points the way to INDEPENDENCE A Simple Plan —that helps you to attain it i FINANCIAL independence for any man or woman’ of moderate income is by no means an unattainable goal. It is a goal that can be— and would be—attained by countless thousands if they fully realized how fast even small savings will grow when safely, continuously and profit- ably invested. Our free booklet, “‘HOW TO BUILD AN IN- DEPENDENT INCOME,” describes a plan of financial independence that is safe, simple and sure for anyrone who invests $10, $20, $30 or more a month at 614% to 7.13% <compound interest, in our First Mortgage Investments. Between the vigorous age of twenty-five and the retirement age of sixty-five a man or woman can amass more than $22,000 simply by making a first payment of $10 and then putting aside only $10 a month at 675% compound interest; $20 a - month will amount to over $44,000 in the same period; $30 a month to over $66,000. The coupon below will bring you our booklet without any obligation whatsoever. It is a book of facts that prove how easy it is to have an inde- pendent income. Send for it now. ke F.H.SMITH CO. Tounded 1873 FIRST MORTGAGE INVESTMENTS SMITH BUILDING 813 FIFTEENTH ST., Please send me your fres bookiet, "Now to Build an Independent Income.” 3 - B PP AQArOBS......cciiviriiiatotitsianans NO LOSS TO ANY INVESTOR IN 50 YEARS 1 Gleasonite Prod ... 2 Goodyear Tire . 1 Heyden Chemical.’ 17.Hudson & Man R B 9 Hudson Co ptd ... 20 Hartmon Co new wi 11 Inter Concrete C 1 Repett| 1 o t 280 8o C & I ne 1 Stutz Mofor % Todd_Shiy 10 8 Distribut niversal Pipe w i 17 Yel Taxi Cotp N ¥ 128 20 Belcher Divide, 60 Boston Mont Co 2 Canario " Coy 10 Candelaria. St 28 Con Cop Mines new 2 Cent Am Mines. 10 Cortes Bilver 4 Cresson _Gold e e b s I e s sl b P e B L T ol ot 5 T8 bttt o e COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY FORT WORTH, October 31.—Mexi. can recognition has been felt in an other way—the restocking of cattle ranges. Ranchmen south of the Rio Grande are forming assoclations to tmport live stock. They hope to se- cure entry of such stockers free of duty and tax exempt for five years. NEW ORLEANS, October 31.—The Southern Pine Assoclation's barometer for the last week shows orders re- celved Increased 8.6 per cent, produc: tion increased 7.6 per cent and ship ments increased 5.5 per cent. ST. PAUL, October 31.—The present shortage of refrigerator cars is re- garded as a blessing in disguise for potatoe growers in this region. The short supply will delay marketing just enough to sustain prices. TULSA, Okla, October 31.—Oil pro- duction again has taken a sudden in- crease and pipe lines are unable to handle the oil. The Powell Texas fleld now is running 320,000 barrels a day, EQUITABLE Co-Operative Building g . 21 Ohio Cop . 5 Metals Prod Hill Con r Horn *Mil 80 Bilver Kig Dv Mine .05 4 Silver King Coalit'n 30 Simon Silver .08 120 Spearhead Gold . 5 Succens Mines 30 Butherland Dev 1 Teck Hughes 3 Tonopah Exten: 8% FIRST MORTGAGES We are offering the above o amounts from $2,000.00 upwards. All loans based on 50% of' value of property, with fire insurance cov. Title insurance or roished charge made for collecting quarterly interest coupons. === | This city considered most substantial in Florida. BANK OF SOUTH JACKSONVILLE, BOUTH_JACKSONVILLE, FLA. Established 1913, sessed denominations of $100, HANNON D gy il Association Organised 1879 474 YEAR COMPLETED Surplus .. 1,207,381 Profit By the Opportunity to Save —In times of prosperity it is wise to lay aside part of your income as an emergency fund. or to be able to fll:s Inplmrlll!lllel that may be present ater. Subseription for the 85th Issue of Stock Belnx Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. Presiden ||| FRANK P. REESIDE. Seey. 3 IllllllIIIIHIIIHIIIIIHII[IIIII]H!HHIIII]MI]!I]I]IIIIII]HIIIIIHIIIIIIIIIIIIIlIIIlIIHlIlIIIItIIIIIIlIlI|||lIlIIIIlIlIIIIIIIIIIIlI [ REMEMBER Money Makes Money— The largest fortunes of today were started by men who pos- only a few dollars, but who had the wisdom to invest for the future. START TODAY BY BUYING OUR MORTGAGE INVESTMENT NOTES —which are secured by the foundation of all wealth— namely, land and improvements thereon. These notes are properly safeguarded by first liens upon improved real estate in Washington, D. C., worth double the amounts of the loans—so that there can be no loss or depreciation. 250, $500 and $1,000—with in- terest at 6%% payable semi-annually on the day due. “Give us a ring” at Main 2345 and ask for the MORTGAGE DEPARTMENT —and full information will be cheerfully furnished. We have them today in -& LUCH 713 14th Street N.W. In Convenient nually. Over a Quarter oo Century Without a Loss B. F. Main 2100 —Interest - payable Denominations For Investors Interest 6v2% NZFPleonth Strect Main 6888 REAL ESTATE FIRST MOliTGAGFS AT 6%% —DMaturing in three years. semi-an- —Assured ‘income. —Security of Principal. SAUL CoO. 1412 Eye St. N.W. FINANCIAL. TWO YEARLY CROP REPORTS PLANNED Two reports, instead of one, win| First Mortgage Loans be issued yearly by the Department|powest Rates of Interest and Commission, | of Agriculture on the Intentions of | ¥ ampt Action ! farmers to plant crops, In response to Thomas 2. Fisher & Company. Iac. a demand from farmers and others. | el o] One will be issued in March for spring-planted crops and the other in August for fall-sown crops. The heavy losses to producers from over- production and to consumers from | underproduction of certain crops have created a demand for some method of avolding these disasters, according to department officials. ?;gz- :f"; Overproduction, it is stated, can he Dec. 17 [ avoided by farmers giving attention Nov. 2 | to the early intentions reports. offsetting the decrease in California. Oklahoma last week produced 387,960 barrels, a day, and Kans 72,250. KANSAS CITY, October 31.—Kansas mills made 107,000 barrels of flour last week. The output, which was 70 per cent of capacity, is 10,000 bar- rels less than last year. FORT WORTH, October 31.—The all_accumulation of 500,000 pounds of mohair in the largest warehouses of the Rio Grande has just been sold and is belng shipped to eastern mills. The average price pald was 48 cents pound. Mor:ey to Loan Securs¢ by first deed of trust om real estate. Prevalliog interest and_commiseion. | Joseph I. Weller LW Money to Lo Y AMOUNT Reanonable Charges en DIVIDENDS. Pay- Btock of 5 | . Mortgnges Approved Col- lateral. American Finance Corporation Commercial National Bank Bidg. Tex: | Reynolds 8. pf. A i Reynolds S. pf. B York Mg . A man cannof work for his family after he has passed on--- = HEUMHBSS —while living he makes provisions for it. This Company as Executor and Trustee of your estate will carry out the terms of your will in a manner which will meet your every requirement. Make This Month Your WILL Month COMMERCIAL 3% ON SAVINGS TRUST AMIERI[CAN SECURIT AND TRUST 15th and Penna. Ave. E) Capital and Surplus, $5,400,000.00 BRANCHES 7th and Mass. Ave. N.\W. 8th and H Streets N.E. 436 7th Street S.W. 1140 15th Street N.W. Central = Northeast : Southwest : Northwest: \ U.S. Government Bonds in the four years, 1853-57, to about $23,000,000. The Civil War debt, reaching a figure of more than $3,844, 000,000 in 1865, was cut down by more than two-thirds to $839,000,000 in 1893. The high net debt figure of $2 - ooo,oog reached in 1919 after tz':{flgst war has already been reduced to approximately $21,702,000,000. Safety of principal and interest, the primary element of an investment, is one which United States Government Bonds enjoy in unequalled de%; e. There is no better foundation on which to build a carefully diversified invest- ment account. HE constant increase in the wealth of this country, which makes United States Government Bonds the strong- est of investments, is reflected by the record of the Govern- ment in retiring its debt after every war in its history. . From a total of more than $76,000,000 after the Revolutionary War, the Gov- ernment reduced its indebtedness to ayproxinutely $45,000,000 by 1812 The $127,000,000 indebtedness after the War of 1812 was practically ex- tinguished by 1835. Following the Mexican War the debt of more $68,000,000 was reduced Our publication, “United States Gov- ernment Bonds and Treasury Certifi- cates,” describes each issue in detail, including tax cxempliaudfedmns. Copies will be forwarded upon licati W Bond Department BANKERS. TRUST COMPANY Downtown Office: Fifth Avenue Office: 57th Street Office: -~ 16 Wall Sereet at 42nd Street at Madison Avenue Paris Office: 3 & 5 Place Vendome 5 wagl it .