Evening Star Newspaper, February 17, 1925, Page 23

FINANCIAL. NEW YORK CURB MARKET Recelved by Private Wire Direct to The Star Office BY WILLIAM F, HEFFERNAN. NEW YORK, February 17.—It was natural, following a break such as occurred on tho previous day, that cornsiderable caution should have been exercised in operations; in the curb market today. Further liquidation took place owing to the impaired condition of many speculative ac- counts, and this selling made Itselt felt throughout most of the session. Standard Oll stocks were better sup- ported at and just above the previous closing level, while here and there slight upturns were recorded. Ohlo Oil made belated response to the in- NEW YORK, February Follow- Ing is an official list of bonds and stocks traded in on the New York Curb market today: Bales in RONDS. 11 Allied Packers 6 Allied Pac -4~ % rand Trunk Gis. Gulf 01l Corp Hood Rubber Lehigh Power Lig Win Lig re Mo Pac Ry OIS BN o States Pow 8138 S Por Min 8! aZaluZacarsonaan 2 57_Wabash 5las 5 Webster Mills 6% FOREIGN BONDS. 4 City of Bogota 8s. R R Fr 7s u"sl,z iy B na cth Co 6334 B 102 Bales m units. 500 Anglo Am Oil. 300 Atlantic Lobos 70 Buckeye P L 20 Comberiand P 30 Eurcka P L. 8300 Humble 011 70 I P L. 1. 5100 Imp Oil of Can n wi 3 90 Ind P L. 8 17500 0 STANDARD OIL 18§ 1915 3 80 Prairie Oil 2900 Prai Ofl & 30 Prairie P 120 Solar Refin . 440 Soyth Penn 50 Ronthern P ) Swan 1700 Vacuum 01l . Sales in INDEPENDENT OIL STOCKS. Bundred 3 3 Superp pr pfd. Appal Pow & L pfd @ 1= I - PR 1Y S o b Atlantic Fruit. Rorden Co.... Rotany Con Mills 2 Rerssonault .. Am n_Toh Reg. Bkiyn City R . Do 2t Chatterton & Son. B Check Cab Mfg A Childs Commonyw Com Pow Conti Bak prd . Conti Tob Ine Curtiss Aero Mo pé De For RCv t e wi DL&W Coal .... Dochler Die (a (o Dubllier C & Radio Durant Mot Diplex € & B'vte Du Pont Motors Duz Co A .. Elec Ho &SI El Nd & Sh ow co 3 Elec Investors Tne Federated Metals T Film Inepect Mach Ford Motor Co Can & 12 Freed Eive Rad Co .o BromarnRud Bun (" R Happ Candy St A Hazeltine_ Corp 3 Imperial Tobac 1 Inter Cont Rul crease in the quarterly ividend rate announced, but Standard of Kentucky sold oft 2 points following decler: tion of only the quarterly $1 disburse- ment. The highly favorable reports com- ing from the property of Engineers Gold and rumors that new Interests were entering into the property, was reflected In anpther jump to a new high record above 27, where the stock was up over 7 points from the low last week. The recent rise in United Verd!l Extension attracted profit-tak- ing and the price came oft somewhat from the top figure. Kuner Wms St Lehigh Fower sec. Leh Val Coal B Len Val Coal N 0 4% Lib McN & L new Liberty Radlo Ch St Mengel Box ...... v 14 Mot Wh Cor new wi 153 Muiray Body Cor .. 417 Jet Dt Py e'c st P PR P o TP 16 Paige Motor . Power Corpn on camomm Sleeper Radio’ So C & I new...... Southewstern P & T, '52% 1 Calif Ed.. 104% g w 24 pt Ther Radio Corp.. Thomp ltad Co vte e S8 i e el ! el Western Power pfd k Spen St Co wl Yel Taxi Corp N X 05 0L JOvors: MINING. Arizona Globe Cop . Beaver Cons ..... .5 Diamfid Bk Butte. Dolores Es) Eng Gold M Eureka Croesu . Flor Goldtield Cop Plymouth Lead M 3 Premier Gold M San Toy. Silverdale . 8o Am Gold & P... Stand Sily Teck United Verde €8 Continental Copper Wett Lorrain Silv. 10 West Utah ....... DIVIDENDS. Perfod. Rate. Pa: Am. Tel. & Cab. $ Gas Baitl, ot 5 . nf. ol pE C umber. Pipe Dy Pont de Do. deb. Soo A gomns a3 CLecoochececse) > ) H 8. Cal. Edi. 7s pt Do. ‘88 pt...... Std 01l Sy o «tn. & Do. . Do, pf. Wabasso C. et ooceceee B *Cash. A Word to Speculators. If you must speculate, select a rep- /| utable broker who holds membership in a recognized stock exchange. Ex- change requirements, in themselves, are some protection, as its members must comply with business ethics as provided by rules and regulations. If a member violates these rules, he hazards his membership, which is usually his greatest asset. $250,000 Detroit 414% BONDS Due Feb. 1, 1939-54 Exempt from all Federal In- come Taxes. Legal Invest- ment for Savings Banks and Trustees in New York, Mas- sachusetts, Connecticut and other States. Prices yielding about 4.20%, TheNationalCity Company Washington—741 15th St. N.W, Telephone—Matn 3176 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST 7827 Conmecliout Svenne BETTER DAYS AHEAD FOR SHIP SECURITIES Admiral Palmer Declares Condi- tions Are Already Show- ing Progre: Will the time come when American shipping securities will again appeal strongly to the American investor? Admiral_ Leigh C. Palmer, president of the Emergency Fleet Corporation, thinks It will. In the current issue of the Magazine of Wall Street he says, in_part: In part that future is already here, though somewhat disgulsed, to the average citizen. Somehow, when peo- ple talk about the merchant marine they adways think exclusively of the overseas trade. They forget that the United States Is a continental Natlon, facing three ways to the oceans and also to the Great Lakes, and that the whole water-borne coastwise trade of this populous Nation is exclusively re- served for American ships. Right then and there we bedome the second marf- time Nation in the world, even though our flag were never seen east of the meridian of Greenwioh or west of 180. But for American shipping iIn & major way the high seas mean today the national ships—the ships of the Emergency Fleet Corporation. To the 90 private company ships that carry the flag abroad—I mean beyond the Cansdian and comparatively nearby ports of other American naflons— there are about 400 Emergency Fleet ships in active operation. These ships are interesting to the Investor as such and as a citigen. He owns them, and every time he pays his income tax he is paying something for their first cost and something for their maintenance. If they mean money out of his pocket they also mean money in it, for there {s scarcely a great American manufacturing con- cern interested in the forelgn trade that does not owe a part of its success to these peaceful ships of Uncle Sam. They open the way for American goods into many a port, where the entrance would be otherwise much obstructed and too dear. - Parls has an agency which supplies bridesmafds to prospective brides who are in need of such attendants. Guaranteed 6% First Trust Notes Real Estate Mortgage & Guar- anty Corporation 26 Jackson PL. N.W. Guarantees its first trust notes as to payment of interest when due and principal at maturity of note. Denominations $100 $500 $1,000 Resources Over 52,000,000 L. E. BREUNINGER, Pres. o o [ Ol e . Soundly Secured In the Home of The Nation. Our First Mortgage Notes, paying 7% interest, may be purchased by monthly pay- ments. Consult Our Trust Dept. or send for Valuable Booklet. Goldsmith Building 1405-7 Eye StN.W, M 9670 FINANCING A;:::nns ]/2 % Business Property Unlimited Funds Avatlable FRED T. NESBIT Investment Building M. 9393 FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F St. JOHN POOLE, Prusident Money to Loan Secured by nrst deed of trust on real estate Prevailing {nterest and_commission. i . ' 420 Wash. L. & Trust Joseph I. Weller 320 Wasb. = "mllllllIIIHIIMIWIHIIIW|H:I;II|II|iflllmlllllllll|||§ Caution Is Commendable Every man or woman about to invest money should exer- cise every CAUTION in the selection of the security, but it is equally important that a proper choice be made of the firm which® is to handle the funds. Our record forms the basis for soliciting patronage, as we have always placed the interests of our patrons para- mount. We are offering to- day some excellent FIRST MORTGAGE NOTES, pay- ing 634%, which are abso- lutely safeguarded. Mortgage Investment Department SHANNON‘& LUCHS 713 and 715 14th St. N.W. Main 2345 MM ARY ELOIRRL AN T T T I T T (LALLM LA L R TR QT T Continental Trust Company £ Capital One Million Dollars 14th & H Streets 5 mlmmmmnmnnmm FROM $50 TO $100 Can Be Obtained by Using Our Certificate of Inventory, Appraisal dnd Title. CHATTEL TITLE COMPANY 805 Fifth 8t. N.W. For 52 Years THE close supervision of this house over your investment continues from the time you in- vest your money until itis repaid to you at maturity. Our record of no Joss to any investor in 52 yearsshows how completely the interests of our investors are safeguarded. SMITH BONDS are 77 sold in $1,000,$500 and 05100 denominations, outright or under oyr Invest. mentSavingsPlan. Every partial . payment carns the full rate of bond interest. No Lows to Ay Investor in 52 Years The F. H. Smith Co. Founded 1873 FIRST MORTGAGE BONDS Smith Building, 815 Fifteenth St. THE F. H. SMITH COMPANY 3 Smith Building, Washington, D. C. Please send me i nformation about Smith Bonds paying 7%. All of these bonds having been sold, this advertisement appears as a matteg of record only. ; NEW SERIES ~ $2,100,000 Philadelphia Suburban Gas and Electric Company First and Consolidated Mortgage Gold Bonds 5% % Series due 1955 Dated February 1, 1925 Interest payable February 1 and August 1. Duc FM 1, 1965 Redeemable as a whole or in part on any interest date on 30 days’ motice at a premium of 6% on or before August 1, 1943; said premium to be reduced by |14 of 1% commencing February 1, 1944, with & like additional reduction commeneing on February 1 of esch year thereafter until maturity, in each case with accrued interest. Coupon bonds in denominations of $1,000 and $500 registerable as to principal. BANK or NORTH AMERICA AND TRUsT ComPANY, PHILADELPEIA, TRUSTEE The Company agrees to pay interdst without deduction for 4 mills annually and to refund any the Massach taxes not exe mills annually in the Mortgage. usetts Income Tax up to 6% per annum on income derived t Tax up to 4 mills anom m Federal Income Taxes up to 2% per annum snd for Pennsylvania i any Maryland Tax up to 435 bonds; all as provided UNCONDITIONALLY GUARANTEED A8 10 PRINCIPAL AND INTEREST BY ENDORSEMENT »Y THE AMERICAN Gas CoMPANY Hr. Morris W, 8 as follows his ledler o us Philadelphia Suburban Gas and Electric Company owns and operates electric and gas properties serving territory adjacent to the City of Phila- delphia, including over forty communities, with a population estimated at over 500,000. The territory includes district producing a a very im nt industrial great diversity of manu- factures, well developed and rapidly growing residential communities and prosperous agri- cultural sections. The Company now serves over 82,700 customers. The electric property of the Company includes a modern electric generating station which has a rated capacity of 80,000 kilowatts and auxiliary electric plants with an a, In addition, the Company has a 8,340 kilowatts. gate rated capacity of contract with The Philadelphia Electric Company under which it purchases electricity to supple- ment that generated in its own stations. Its gas system includes two large modern gas plants which have a daily capacity of 10,975,000 cubic ‘feet and other reconstruction gas plants with an aggregate daily capacity of 7,2.:0.000 cubic feet. of the Extensive Company’s coke oven plant at Chester has been tundertaken to secure added capacity and greater efficiency. be completed during 1925, and will add will This work 1,600,000 cubic fect to the Company’s daily gas capacity. Gross Earnings........ President of the c;;umz. has deseribing these summarized The value of the properties of the Company, as appraised by Messrs. Stone & Webster, Inc., En- fineers, as of Ay xpenditures for a $4,374,819, makin pared with the 1, 1923, was $27,334,264. itions since that date aggregate a total of $31,709,083, as com- ompany’s total funded debt of 818,951,000 outstanding upon completion of this financing. The Engineers’ valuation was based upon the valuation fix in 1921 by the Pennsylvania Public Service Commission plus net additions since that date at reproduction cost depreciated. The First and Consolidated Mortgage Bonds, of which $8,255,500 will be outstanding upon com- pletion of the present financing, are secured by first mortgage on property valued at $2,741,322. Further, these Bonds share ratably, through pledge of $5,517,500 General Mortgage Bonds of the Company, with $844,500 additional of such ublic in a direct mortgage subject to $9,851,000 (closed) underlying bonds now outstanding with the bonds on property valued at $28,967,761. In addition the First and Consolidated Mortgage is a direct lien on the entire property of the Company now owned or hereafter acquired. All additional bonds issued under the General Mortgage and any outstanding General Moretgage ged Bonds acquired by under th:ql" EARNINGS YEeArs ENDED DECEMBER 31, Operating Expenses, Maintenance and Taxes.. Net Earnings. Annual Interest on Funded Debt this financing. bione o Balance.... & outstanding 1928 $4,078,682 8,111,358 $1,867,324 upon completion of Ner EArNiNGs ovER TWICE THE ABOVE INTEREST CHARGES During the last four years the Company has realized over $6,400,000 from the sale of its Preferred Stock; more than half of this amount was from sales to customers and employees. the Company will be pl irst and Consolidated Mortgage. 1924 $5,250,500 8,171,076 $2,079,424 1,028,050 $1,051,374 The Company’s franchises, with minor exceptions, are unlimited as to time, and contain no burdensome restrictions. These bonds are offered subject to sals and when, as and if issued and received by us and subject to the approval of our counsel, Messrs. Dickson, Beitler and McCouch, of the form and validity of the documents and proceedings. approved for the Company by Messrs. Townsend, Elliot and Munson. Price 98 and interest , yielding about 5.64% DREXEL & CO BIOREN & CO. All legal proceedings will be STROUD, KURTZ & CO. INCORPORATED FINANCIAL. Look Ahead —and provide for future comforts and needs by in- : investing a small amount in each month in these safe i First Mortgage Investment Notes. WA D enomina- Current isw bear tions range | sues 6% intercat. from $100 to $100,000. Constructio mpany “4430 K Street, INC. Main 3§30 \ “We House One-Tenth of Washington’s Population.” Crd e Dean, Onativia & Co. Stock Exchange Building New York COTTON GRAINS MEMBERS New York Stock Exchange Chicago Stock Exchange New York Curb Market Association WASHINGTON OFFICE Main Floor, Woodward Building = = STOCKS and BONDS COFFEE SUGAR Y. Cotton Exchange Chicago Board of Trade . Produce Exchange Minneapolis Chamber of Comme CALLAN O’'LAUGHLIN Manager Pl"mne Main 2040 JoRN Moderation—One of the Four Distinguishing Marks 3. Medisam-sized Loans: It has always seemed to us that Miller First Mortgage Bonds are safer because we make loans on a great many medium sized scattered from the Lakes to the Gulf, east and west, instead of tying up our own funds and those of our investors in a few projects of great size. Moderate-sized buildings are more easily managed, more readily salable. By financing so widely, we are able, too, to obtain highly attractive Joans in localities where 7% is the prevailing rate. The Four Distinguishing Marks of Miller Bonds are the means by which these bonds may be compared, not only with other real estate bonds, but with any other security. Call or write for Folder B-1214, G.L.MILLER & CO. Local Address 308 Phillips Bldg. ‘Washington, D. C. MILLER .5 BONDS Capital & Surplus, $2,000,000.00 To Increase Your Savings —steadily is mere pru- dence, for no man’s calen- dar is devoid of “rainy days.” Over 42,000 depositors depend upon this old bank for the pro- tection of their money. Let us safeguard YOUR SAV g@Same rate of interest paid on large end small accounts. National Savings & Trust Co. * Cor. 15th and New York Ave. Year Oldest Savings Depository in Washington WHEN LESS IS GREATER 6% % with absolute safety is greater than 7% or 10% and a Over a good chance of loss. Quarter of a Protect yourself today by in- Century Without a ? " Loss. vesting in our— . 6%% FIRST MORTGAGES - B. F. SAUL CO. Main 2100 * ° 925 15th St. N.W.