Evening Star Newspaper, February 27, 1925, Page 29

FINANCIAL. NEW RECORD MADE BY INSURANCE MEN Both Group and Individuar| Policies Are in Great De- mand at Present. BY J. C, ROYLE 1 in| up, Both | tect vour savings. he Federal rev- | it t C. & 0. Stockholders Asked to De- posit Stock With Special Committee. By the Associated P NEW YOI 7.—Reports | inclusion | )hio in the have reached committee d sharehold- prominent sts headed by urged share- y the Van tionate and bruary ve nt, ef- d by the Fed- York We have considerable| funds on hand to put| out in first trust loans. Let us have your application. Lowest rates of interest and charges very moderate. Moore & Hill, Inc. 730 17th St. N.W. __ Member Washington Real Estate Board _ (RN Continental Trust Company Capital One Million Dollars 14th & H Streets O First Mo;lguge Bonds On Tncome-Producing City Prop- erty of General Utilization— ‘The highest type of investment nown. Now Offering: 20-Year 61459 Sinking Fund Gold Bonds, Roger Williams Apart- ments, Providence, Rhode Island. Union Discount Company, Inc. NEW YORK Philadelphia, Boston, Albany, Newark, ROAD’S INCOME DROPS. Maryland and Pennsylvania R. R. Reports Heavier Expenses. Special Dispatch to T BALTIMORE, F a totai of $900,1 revenue during 1 ary 27.—With in operating the Maryland and Pennsylvania Rallro “o. showed a d ‘e, pres t the annual Operating 238.02 to $63 less than during and directors were elected. /| GASOLINE CAR MAY RUN INTO FREDERICK B. & 0. Considers Change on Line to Cut Down Cost of Oper- ating Trains. The Star. February 27.—A plan »f the old main line e car is being consid- e Baltimore and Ohio Rail- osed to the Pub- sion that it be two steam trains Special Dispatc d by t The road pr which has not offi- hed either to c emoval of the tra ion, the steam t ween Baltimore and ¢ille. The gas car n the steam termi- || k d labor organizations to the gasoline train of the small crew re- SRS e TERMINAL PLANS BLOCKED. PHILADELPHIA, February 27 (Spe- ial) - huge terminal Delaware River ylvania, Reading dhio roads would been blocked by e Pennsylvania lines to Your Banker Knows. When in doubt about a security onsult your banker. It is equally much his interest as yours to pro- You trust him with vour deposits—why not trust him with your investment problems? “WHEN” buying our FIRST MORTGAGE 615% INVESTMENTS are assured due precaution has been n to safeguard your Interest. A per I inspection and conservative valuation two of our striet requirements. and courteous serivce follow the se of our securities, Notes now on hand in amounts of $100 up. Send for Booklet CHAS. D. SAGER Loan Department 36 You tal M. 37 a8 924 14th St Departmental Employees “Your Bank” Will loan you One Hundred Dollars to start a Four Per Cent Savings Account ‘Write or call for further information THE DEPARTMENTAL BANK 1714 Pennsylvania Avenue Under Usnited States Governmeat ‘Supervision Money to Loan Secured by nrst deed of trust on real estats Prevailing interest aud_commission. 420 Wash. L. & Trust Joseph I. Weller = BONDS. GERM STOCKS Bought—Sold—Quoted Full New York and Berlin Market Received Daily Send for Special Market Letter Peter Whitney 203 Investment Bldg. Telephone Franklin 3978 In 48 States and 30 Foreign Lands every State in the Union, and in 30 countries and terri- tories abroad, investors now have the perfect satisfaction of Smith service and the proven safety of Smith Bonds. Our first mortgage investment record--no Ioss to any investor in 52 years--has resulted in world-wide recognition of the fact that ‘‘Smith Bonds are Safe Bonds.”” SMITH BONDS are 77 soldin $1,000,$500 and 0 $100 denominations, outright or under_our Invest- mentSavingsPlan. Every partial payment earns the full rate of bond interest. TNo Low to Any Tmvestor-in 52 Years_ The F. H. Smith Co. Founded 1873 FIRST MORTGAGE BONDS Smith Building, 815 Fifteenth St. THE F. H. SMITH CO‘M’PAch Smith Bonds paying 7%- Neme ... artford 30 Southers Bldg., Washington Address THE REAL ESTATE LOANS Small and Large Amounts Refinancing on Long-Term Basis LOW INTEREST RATES Unlimited Funds Available FRED T. NESBIT Investment Bldg. Main 93923 WE FINANCE Apartment Hounes Business Property Residence Property Hotels, Ete. Higbie & Richardson, Inc. 818 15th St. N.W. FROM $50 TO $100 Can Be Obtained by Using Our Certificate of Inventory, Appraisal and Title. EVENING STAR, WASHINGTON, FEDERAL-AMERICAN NATICNAL BANK RESOURCES, $14,000,000 1315 F St JOHN POOLE, Prusident First Mortgage Real Estate Bonds Booklet on Request Bay Crest Hotel Co., Inc. 912 15th St. N.W. D. C, FRIDAY, NO matter how safe an investment may the managing organization who will admin- ister your interests. The issuance of Ward- man First Mortgage Notes is a prima facie assurance of sound management. FEBRUARY 27, 1925. FINANC The Importance of Good Management s o, Fouptont ........... $4,042,132.68 Assets . Surplus. appear t» be, it is always well to study Systematic Saving Current Issues Bear 6% Interest Denominations From $100 to $100,000 WARDMAN ConstructionCompany 1430 K Street e, Main 35350 —accomplishes the results you desire. Our plan is without a doubt one of the best methods of saving. Join today. 915 F Street NW. sesseseessene FRANK P. REESIDE, See'y 45th YEAR COMPLETED ..$1,317,011.44 Subscriptions for the 88th Issue of Stock Being Received t $ : 3 Shares $2.50 Month seses0s0reed per P R R s perience. uarier of a Century Without a Loss. B. Main 2100 “NOTHING FOR SOMETHING” The investment that promises “something for nothing” gen- erally reverses itself—in which case you get nothing for your good money except costly ex- In direct contrast to the above class of securities are dur FIRST MORTGAGES —secured on improved Wash- ington real estate. F. SAUL CO. 925 15th St. N.W. for LOANS on Located in the COMPANY o 912 15th Street N.W. APPLICATIONS INVITED IMPROVED PROPERTY Distriot of Columbia and adjacent Suburbs in Montgomery County, Md 5:% 2 /0 INTEREST pply ro H. L. RUST COMPANY LOAN CORRESPONDENT She PRUDENTIAL INSURANCE AMERICA Main 6888 43 Years Investment Experience Given You in this Book earn the | income consistent with safety, send our book, “43 Years Without Loss to Any Investor.” In this book you will find the tested rulesand and! now. which men have built fortunes building fortunes: noobligation whatever in asking for it. Write or *'phone for a copy today. Ask for BOOKLET §32.G S. W. STRAUS & CO. wrammnis#h N mvmTewrsoms N\ mcomromates NATIONAL METROPOLITAN BANK BUILDING ‘WASHINGTON, D. C. Telephone Main 5847 1417 K Street NW with Money which Build to without taking undue risks? This question is asked ANSWER. Turn a deaf ear to every There is no need to de- lay construction of your house or business property. No Losses of Interest or Principal. No Depreciation in Value Consult us today! No Delay in Payments at Maturity 615 and 7% Our Mortgage Investment Dept. Will Gladly Tell You All About It BOSS “axo. PHELPS LOAN DEPARTMENT W. L. KING, MANAGER Main 9300 713 & 715 14th St. NW. 175,000 Shares The Gould Coupler Company aryland) Participating Class A Shares CAPITALIZATION (Upoa completian of the prescat financing) Authorized Pirst Lien 6% 13- Year Sinking Fund Gold Bopds.. ... .$4,000,000 Class A Shares (without par value). . M «ss 175,000 shares Common Shares (without par value vee 350,000 shares Class A Shares aec cotitled to preferential camulative dividends at the race of $2 per share per aooum, aceruing from the date of issoc, quarterly March 13, Juoe 15, Scprcmber 15 and December 15, a0d ar also entitled (op the basis of the shares o be prescatly outstand aadiciondl divideads cquivalens 10259 of that proportion of cach dividend on the Common Shares which the Class A Shares bear 0 the C Shares. Class A Shares will participate oo liquidation to the extent of $30 per shace before any distribution fo the Common Shares. Class A Shares arc redecmable, 2t the option of the Compaay, in whal or io part, 0o aay dividedd date, at $30 per share and accrued dividends, afrer 3 days Wm ootice. Class A Shares are co have exclusive voring power in case of default in the payment thereon of four quarterly divi- dends, 2 id, naril all divideods due 20d uapaid shall be paid. Wichout the conseat of holders of at lcast 66 2-3% of the Class A Shares then m.:q., 00 other stock ranking prior £, of 05 a parity with, the Class A Sharcs may be created nor may the authorized number of Class A Shares be increased. To be Presently Outstanding $4,000,000 175,000 shares 300,000 shares Regmerac: THE CHASE NATIONAL BANK OF THE CITY OF NEW YORK Traoster Agent CENTRAL UNION TRUST COMPANY OF NEW YORK Charles ] Symington, whe is to be Chairman of the Board of Directors of the Company, summarizes as follows bis letter 1o ns, copies of which may be obtasmed from the wndersigned: General: The Gould Coupler Company, 2 Maryland cor; tion, has acquired the plants, cquipment, patents, trade names, etc., of Gould (E.oupler (gampauy, a New Yorlle:rporannn. zgl: going cgnccrn, Thcpbusmcs’; of the Company was started 43 years agc under the utle of Gould & Stimson. In 1890, Gould Coupler Company was in- corporated in West Virginia, and was succeeded in 1903 by the New York corporation of the same name. Except for a small inirial investment, the business has been g?ulz up entirely out of carnings. The Company manufactures standard cquipment for freight and passenger railway cars and locomotives. The Company owns the entire capital stock of Gould Storage Battery Company, Inc., engaged in the manufacture and sale of batteries for automobiles, housc lighting plants, submarines, and for radio "A™ and B’ circuits. The Com- pany has leased to Gould Storage Battery Company, Inc., certain property for a guaranteed rental. les: The plants of The Gould Coupler Company are situated at Depew, New York, (about 8 miles from Buffalo),—a location of strategic value in this industry. The plaats comprise 34 well-cquipped factory build- ings, occupying 53 acres of land with steel and malleable iron foundries, furnaces, ovens, forge shops, modern power plant, etc., together with a full complement of necessary jigs, dies, flasks, patterns, ctc. The plants contain over 5 miles of railroad track within their fences and the direct rail and switching connections are excellent. At full capacity the plants give employment in all departments to over 1,500 employecs. Assets: Messrs. Ford, Bacon & Davis, Inc., as of December 31, 1924, place the sound value of the physical property of the Company at $5,850,000. This figure does not include many valuable patents, together with trade pames and other intangible asscts, appraised by the same engincers at $750,000. Net tangible asscts (exclusive of these intangibles), as per balance sheet of December 31, 1924, certified to by Messrs. Ernst & Ernst, Fublic Accoun- tm:d.. adjugsted to give cffect to the present financing, amounted to $25.54 per Class A Share to be presently out- standing. Earnings: Net earnings of the business acquired by The Gould Coupler Company, the Maryland corporation, adjusted for items not -pglicablc to that Company, after all charges, including interest on the $4,000,000 First Lien 6% 15-Year Sinking Fund Geld Bonds to be presently cumzmfi?g, Federal taxes at the present rates, depreci- ation, repairs, maintenance, ctc., (exclusive of d Storage Battery Company, Inc., but after giving cffect to anteed rentals from certain property leased to Gould Storage Battery Company, Inc.), have been certified by {::;n. Ernst & Ernst, Public Accountants, as follows: Annual Average Per Year vesees. . $661,868.88 . 713,242.87 . 824,045.19 1f Applied to Class A Shares $3.78 4.07 4.70 Year ended December 31, 1924, 8 years (1917 to 1924 inclusi 2 years (1923 and 1924) Orders now on the books of the Company and business in prospect indicate satisfactory earnings for the year 1925, It is anticipated that the requirements of the railroads for new equipment during the current year should re- sult in carnings applicablc to Class A Shares for 1925 exceeding similar carnings for 1924. The business has been conducted at a profic without interruption since 1890, with the exception of the year 1914. Management: Mr. Charles A. Gould, who has been President of the Company since its inception, is retiring from busincss at the :gc of 76 years and has been succeeded as President by his son, Mr. William S. Gould, who has been identified with the business for maay years as Vice-President. The executive and operating personnel will con- tinue as heretofore with no other material change. The Symington Company is acquiring a majority of the Com- mon Shares of the Company. It is expected that application will be made to list the Class A Shares on the New York Stock Exchange. We offer these shares, when, a3 and if issued and accepted by us and subject to the approval of our counsel. It is expected that lmé;-_Rmifl: or Temporary Certificates for both Class A Shares and Commen Shares will be ready for delivery on or sbeit March 16, 1925. All legal masters in conmection with the issuance of these Skares will be subject to the approval of Messrs. Cotton & Frankiin, of New York, for the Bankers, and Messrs. Janney, Ober, Shingluff & Williams, of Baltimere, for the Company. Appraisals as 2o the physical mpmy and intangibies bave been made by Messrs. Ford, Bacen & Davis, Inc. and the books of the predecessor Company bave andited by Messrs. Ernst & Ernst. Price, $25.00 per Class A Share % Common Share will be delivered with each Class A Share No fractionel Common Shares will be delisered, bus arrangemenss bave been mads t0 purchase or seli fractional shares a2 mot bess tham $10 per share. Blair & Co., Inc. ‘Hambleton & Co. New York Empire Co., Inc The information snd veatiseics contained in chis advertisement are not guarsnteed, but heve been obtained from sources-we believe to besccurate. d WE HAVE ng offers of ks and let us sell you one or more of our FIRST MORTGAGE How May I Get More —than 4 to 5 Per Cent on My Money THE speculative The Interest Return to You Today Is SHANNON - & LUCHS Main 2345