Evening Star Newspaper, June 16, 1924, Page 25

FINANCIAL.™ NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM ¥. HEFFERNAN. evident that this was not the cause for strength in the former shares. 821 Jib Cous ... 20 Kay 'w Coroelia . Neeads, Hills on op .. o Plymouth Lead Mi o THREE NEW BOND ISSUES. NEW YORK, June 16.—In addition to the $25,000,000 Federal Land Bank 5% per cent farm loan bonds offered today at 101 to yleld 4% to 4% per cent, other issues included $1,070,500 Tidewater Power Company first liens STATES OUT FOR PRIZE. Southern Exposition Expected to Be Unusual Success. Special Dispatch to The Star. BALTIMORE, June 16.—Great in- Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. FINANCTAL. Every Salary Check NEW YORK, June 16.—A rather overing movement in oil slocks was one of the chief happen- ings in the curb market today. Fail- ure of these shares to react Saturday on the announcement of 30 cents a barrel cut in Pennsylvania crude oil Quotations caused considerable gasiness among the shorts. Shortly after the beginning of busi- | appeared and be- dv: of a oceurred in Imperial ndard of New York, In- cuum and Ohio Oil, while lH\V nd Gas was bid up sharp- Lehigh Valley Coal sales certificates |’ was again the leader in the point of activity. After further realizing the up- ward movement got under way again. carrying the price above 35 for a rise of almost 2 points. Improvement in Cen- trifugal continued, the stock moving sympathetically with higher prices for | Cast Iron Pipe on the stock exchange. un-| The usual daily new high record was made by Dubilier Radio, but the high selling level attracted some profit- taking. The public utilities moved with no general tendency. Commonwealth Power broke sharply at the opening when of- ferings found the market bare of bids. American Light and Traction common lost a point, but the dem: nd kept on n of more than .| for American Gas and Electric new of the reg Among_the high-priced specialties Na- Pipe fe Oil and G: tional Tea common was a feature with a pe Line was announ but it was| jump of 4 points to 165. and refunding mortgage gold bonds, series A, sinking fund 5 per cent at 97% to vield more than 6.20 per cen terest has been aroused throughout Y the i;o‘ulh by the offer of a 85.000“511- vertising prize to the state makin and $1.000,000 ity of St. Louis, Mo? | the most “comprencnsive - exhIBIE &t 4% per cent gold bonds at prices to|the Southern Exposition in New York yield 4. t. 2 next year by the Manufacturers’ Rec- ord of Baltimore, according to reports feaching here. Practically every state in the south has signified its intention of going after the prize and as a result it is expected the exposition will be one of the greatest of its kind ever held. Gov. Trinkle of Virginia says: “1 look upon this exposition as one of the most forward steps by the south- ern states in many year: —you receive should yield part of its pro- ceeds to YOUR SAVINGS ACCOUNT. The account that is kept growing is the only one that attains really helpful size. {The OLDEST National Bank in the city pays its savings depositors 3% Com- pound Interest—invites initial deposits of One Dollar or more. Nafioflafl —110 Years Old Metropolitan Bank 15th St., Opposite U. S. Treasury FIRST MORTGAGES FOR SALE THE TYPE OF SECURITY CONSERVATIVE IN- VESTORS BUY IN DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Louisiana Ave. N.W. Unity Gold ... Wenden Copper 2 o <20 FISHER'S PRICE INDEX. NEW HAVEN, Conn.. June 16 (Spe- clal).—Last week's prices averaged 1134-10 per cemt of pre-war level The purchasing power of the dollar wias 698-10 pre-war cents. Crump's Five per cent loan 68 francs index No 1522-10, Irving Fisher, Yale | 15 centimes. ~The dollar was ‘quoted economist reports. at 18 francs 17 centimes. = TN PARIS MARKET QUIET. PARIS, June 16.—Trading was quiet on the bourse today. Three per cent rentes 53 francs 20 centimes. Ex- change on London 78 francs 50 cen- NEW YORK oI5 an official 1 traded in on Market today June 16 Following | of bonds and stocks the New York Curb s 24 Dubilier O & Radio 3 4 Durant Motor 6 Du Pont Motors. .. 1, EI Bond & Sh pfd F & W Gr St wi B. F. SAUL CO. 1412 Eye St. N.W. LEADERSHIP Hall Switeh & Sig 1 Hall Sw & Sig pfd 12 Hazeltine Corp wi 12 Hud & Maon R B 1 Hudson Co pfd . & Inter Cont_Rubber 7 Kesstone Sviether 1 Rresge Dept Stores 2 Lehigh Power sec Le Val Coal nw wi Mesabi Iron Na Tea Co new wi N Eog T & T Co Y Tele Co ptd erless Mot rene Mfg i Radio Corp RadioCorp pfd 28 G Pnvtew In financial circles of this City the Ameri- can Security and Trust Company holds a place of leadership. ' EQUITABLE Co-Operative Building Association Organized 1579. 44th YEAR COMPLETED Asnets .. . .84,755,170.53 Surplus . . .$1,248,320.98 Systematic Saving Accomplishes Most Make up your mind to save sys- tematically by joining the Equitable. 1 ethoa of skving that Jeads U greatest aceonplishments: Subscription for the 87th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F ST. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Sec’y. —It has a Capital, Surplus and Undivided Profits of over $6,000,000.00. —It has deposits of over $25,000,000.00. —It-has resources of over $32,000,000.00. —It has been in business over 35 years. PR - Chdice of Maturity— is one of the many considerations afforded purchasers of these 6'2% First Mortgage Investment Notes. Whatever duration you wish can be nearly, if not exactly, found in these Notes. Denominations as low as $100 10118 HETITEN 1003, 3 Guif Oil Corps n MINING Black Hawk Cons 5 Black Oak Gold Ms 3 But still more important to you are the causes which have made possible such a record of growth and achieve- ment. These may be expressed in three words— STRENGTH, SECURITY and STABILITY. MERICAN SECURIT —_—— > AND TRUST COMPANY -° 15th and Penna. Ave. WA Constructio MAN Wash., D. C., June 10, Pay to the order of Mrx. Thrift $35.00 for interest due June 1o, 1924, on first mortgage note purchased through —our Mortgage Department. s & months' of Nether 6s 8% 5 Sol & Co s 34 B 1007 5 Swiss (Govt 5 Swiss Govt Bales in STANDARD OIL Capital, Surplus and Undivided Profits Ovwer 30170(;}.”(/0/’”. BRANCHES 7th & Mass. Ave. N.'W. 8th & H Sts. N.E. 436 7th St. S W. 1140 15th St. N.W. Arnold Guaranteed Certificates . Armold Guaranteed Certificates afford a safe and profitable in- vestment for surplux funds. They are wecared by first mortgages on improved Income real estate and homes. and are a direet obligation of Armold and Company. Issued in amounts of $100, $500 and $1.000, to run for term of 2 to 10 years. This is a facsimile of the many Checks leaving our office daily to investors 1n our 7% e : i | Central: T 2 First Mortgage Notes A ' Northeast : (42 Note the date due and time sent.) YOUR SAVINGS - In Our FIRST MORTGAGES “The Safest Security on Earth” 7% e Denominations $100 to $10,000 MORRIS:CAERITZ-CQ TNcoR/PORATED, Once you invest in first mort- zages no other form of investment will appeal to you. Send for com- plete details. Notes now on hand $100 up. Chas. D. Sager 924 14th St _ Loan Dept. First Mortgage Loans Lowest Rates of Interest and Commission. Prompt Action Thomas J. Fisher & Company, Inc. | | 738 15th Street -Southwest : Northwest : Incorporated. Capital and Surplus, $1,250.000. 1416 Eye Street 2 Telephone Main \ 30 Main 37 38 1416 K Street N.W. Main 617 All of These Bonds Having Been Sold, This Advertisement Appears as a Matter of Record Only. Novihiwest Residential snd Business P ty Only New Issue Exempt from Federal, State, Manicipal and Local Taxation $35,000,000 Ten-Thirty Year Federal Land Bank 43:% Bonds Dated July 1, 1924 Due July 1, 1954 We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department Not redeemable before July 1, 1934 The Washington Loan | k] Inkere;:‘ payable January 1 and July 1 at any Federal Land Bank or Federal Reserve Bank Principal payable at the or July Ist Dividends k of Issue. Compon and registered bflnd(;y;murdnngflbk) in denominations of $10,000, $5.000, $1,000, $500, $100 and $40. Redeemable at 100% and interest at any time on or after July 1, 1934. 2 During the recent convention in . Washington of the National Association The Supreme Court of the United States has upheld the stationality of the Act i of Real Estate Boards of America, it was the Banks and exempting these Bonds from Federal, State, mumicipal and local taxation. reported by a famous statistician that the _— s > . losses from investments of OVER A BIL- LION AND A HALF DOLLARS in First Mortgages on Real Estate up to that time had actually been less than THREE- ONE - HUNDRED - THOUSANDTHS OF ONE PER CENT! Special Notice to Al Having Funds From June Maturities Aeme Coal mew Adirondnck Allied Pack pr pi Am Cot Fabric pfd Am G & Fl new wi Am L & Tract. 1 Am Multigra and Trust Company 900 F Street 620 17th Street Bowm ETOFEAEES 253 Operation: In six years of active operation the 12 Federal Land Banks have been built up until on April 30, 1924, their Capital was $46,198,442; Reserve, $4,792,000; Surplus and Undivided Profits, $4,051,992; and Total Assets, $944,889,849. Every bank shows a surplus earned from its operations. JULY INVESTMENTS Acceptable by Treasury: These Bonds are acceptable by the United States Treasury as security for Government deposits including Postal Savings Funds. First Mortgage Notes Make R tions Now! Legal for Trust.Funds: The Federal Farm Loan Act provides that the Bonds shall be lawful invest- ments for all fiduciary and trust funds under the jurisdiction of the United States Government. They are eligible under the laws of many of the States for investment of all public and private funds and have been held eligible for investment by savings banks in 37 States. Can Any Other Character of Investment Present Such a WE are particularly glad to be able to Showing of Safety? offer- 2 list of desirable First Mort- gage Notes for immediate purchase or July reservation. * The United States Government, as of April 30, 1924, owned approximately $2,000,000 of the capital stock of the Federal Land Banks. The Farm Loan Associations, during the years 1922 and 1923, acquired approximately $19,000,000 of Federal Land Bank stock, part of the proceeds of which was used to retire stock owned by the Government, as required by the Farm Loan Act. The United States Treasury has purchased and now holds over $100,000,000 Federal Land Bank Bonds. While these Bonds are not Government obligations, and are not guaranteed by the Government, they are the secured obliga- tions of Banks operating under Federal charter with Governmental supervision, on whose boards of direction the Government is represented. s Don’t take chances, but invest where your money will be secure—and, at the same time, produce an interest yield that will average 1 6-10 per cent more than other forms of high-grade stock and bond investment securities. ‘Many investors have been quick to recog- nize the investment opportunity in Swartzell, Rheem & Henscy Company 614 % Notes that will, perhaps, never again be equaled. The same cdlass.of security we.have offered for the past 55 years<and which sas enabled us to maintzin a record unique in financial circlescan be haddor 2 limited time only with an interest rate of 6% %, with tax refund feature to bring-the return to 7%. Those having funds available for July in- vestment should make their reservations NOw. At the request of the Federal Farm Loan Board in ce-opersation with and on behalf of the Federal Land Banks, we offer these Bonds at: Price 101% and interest, to yield about 4%% te the redeemable date (1934) and 43(% theresiter to redomptien or maturity Request our Mortgage Investment Department to send you booklet and other information on this subject. [SHANNON - & LUCHY] 713 and 715 Fourteenth Street N.W. Main 2345 Member Washington Rnlnmolnl;l"::d National Association of Call, Write or Telephone Today For Detailed Information Alex. Brown & Sons Ha""‘, FOI;bOS & Co. : Brown Brothers & Co. Lee, Higginson & Co. Swartzell, Rheem & Hensey Co. The National City Company Guaranty Company of New York 13 727 15th Street N. W. ; 5 . oaialied Dériie, whils Rek asrustuls are information we believe i rellbie ‘55 Years Without Loss to an Investor I : e . Neosd keen i adelon WL 57t acotashe