Subscribers enjoy higher page view limit, downloads, and exclusive features.
FINANCIAL, THE EVENING STAR, WASHINGTON, D. WEDNESDAY, MARCH 18, 1925. STARTLING DECLINES | | FROM YEAR’S HIGHS: New York Stock Summary Shows| Magnitude of Recent Recessions. 18— The lowing table shows the ne recorded yesterday and the from the year's highs i active issues INDUSTH t de Com’reinl IMPORTS LEAD EXPORTS. | i Heavy Arrivals of Rubber, Glass| 1a and Fruit at Baltimore. STATEMENT OF THE CONDITION OLD COTONY, LirE TNSURANCE coMPANY . OHICAGO, ILLINOIS, on_the ‘39t qar o O e, quired under t amended June Solumbin od Augost. 16, Capital stock. . . $300.000.00 Capital stock, paid u 5T A h in office > $1,600.00 in bank. .l 91008 40 Total assets g LIABILITIES claims 3 .m,,,mu T [ before me this 13th M. GODKNECHT, ary Lubli Sotiett Ap First and Second Trust Loans Goldsmith Building 405 ZEycStNW M 967 ! American Telephone & Telegraph Co. In Any Amount on REAL ESTATE FIRST MORTGAGES FOR SALE Denominations of $250, §500, $75, $1.000 and upwards 615% An « Made on Proverty Located in the District of Columbin JAMES F. SHEA 643 Louisiana Ave, N.W. Flrst Mortgage Notes For Sale in Any Amount Security Carefull. Selected 637 and 17 Wm.H. Snurders Co., Inc. 1433 K _Street N.W. Phone Main 1016-1017 Iars and Twenty-Five il Stockhol an t the close of busi | In the District of Columbia \\1 g 142nd Dividend The regular quarterly dividend of Two Dol Cents ($2.25) per share ednesday, April 15, 1925, to e close of business On account of the r, the tra 1025, and reopened at 10:00 A5 on April _H. BLAIR SMITH, Treasurer. The Largest Fortunes of today were started by men who possessed only a few dollars, but whorhad the wisdom to invest for the fature. Start Today By Buying Our Mortgage Investment Notes These notes are safe- guarded by first trusts upon ml]»r-»\ul real estate in Washington, D. C.. worth double the amount of the loans—so that there can be no loss by depreciation. We have them in denomina ns of $100 to $5,000. Interest Rate Today Is 6Y/29% ible semi-annually on FINANCIAL. $5,000,000 Cuyamel Fruit Company (Incorporated under the laws of the State of Delaware) First Mortgage 15-Year 6% Sinking Fund Gold Bonds Dated April 1, 1925 Authorized $7,500,000 Pringial and sombannual interost, (April 1 and. Octobor 1) pavable in New York at the offco of Lehman Brothers, in ruste . Y ‘and wccrued 2 Coupon Sonds 1n Iaterchungasble denominations of $1,000, $500 4nd $100, Bank and in New Orleans at Hibernia Bank and Trust Compans not to exceed 27%. Redeemable as & whole or in part at 1 % of 1% annually. HIBERNIA BANK AND TRUST COMPANY, NEW ORLEANS, Trustee. The Sinking Fund will make provision for the retirement of over 809, of the bonds of this issue by maturity. To be presently issued $5.000,000 interest pryable without 4 nterest to April rable as h Information regarding this issue ond the business of the Company is given in a letter frnm Mr. S the Cuyamel Fruit Compary, copies of which may be obtained from the undersigned and which he has st BUSINESS “The Cuyamel Fruit Company is engaged primarily in the cultivation, transportation and marketing of bananas. All of the branches of the business from the clearing and plant- ing of suitable lands to the transportation of the harvested fruit, first by rail or barges to the coast and then by water to the markets of this country, are performed by the Com- pany and its affiliated and subsidiary companies. The rapid growth of the business is indicated by the fact that the number of bunches of bananas imported has in- creased from 275,000 in 1912 to over 6,576,000 bunches in 1924. One of the management’s primary considerations has always been ‘the acquisition of ample first-class banana lands. As a result of this far-sighted policy, we now have uncultivated an acreage of highly fertile banana lands far in excess of the acrgage now under cultivation. This pro- vides an ample reserve to insure continuous and steady The cost of all this property less adequate depreciation, is approximately $15,000,000, and -its present value is greatly in excess of this figure. ASSETS The combined net tangible assets, amount of these Bonds, of Cuyamel Development Company, of Cuyamel Fruit Company for at will be effected prior to the issuance of the Bo: $21,078,039, or $4,215 per $1,000 bond. Current a £ total $3,965,626 against current liabilities of $690,902 EARNINGS Combined profits of Cuyamel Fruit Company, Cortes Development Company, icago at First n for Normal Fe and subsidiary companies as of December 31, 1924, after giving effect to the sale Bonds and to the sale of 50,000 shares of the c : Due April 1, 1940 to princip without deduc ¢ Company, Cortes least $2 and subsidiary and predecessor production for many years beyond the life of this issue. SECURITY These Bonds will be the joint and several obligations of Cuyamel Fruit Company and Cortes Development Company. They will be secured by a first mortgage on all of the mortgageable property of both companies in the Republic of Honduras, as follows: (a) over 250,000 acres, of which 25,645 acres are now in cultivation in bananas; (b) 145 miles of main and branch line railroad, (nmways modern machine and car shops, warehouses, hotels, commissaries, wharves, ice, electric light and water supply plants, about 750 buildings for the use of the Company’s officers, man- agers and employees, and all other equipment and improve- ments on the land mentioned above; (c) approximately 7,500 acres of cultivated land growing sugar cane and a large modern sugar mill which has cost about $2,000,000; and will also be secured by the pledge of notes and stock of the Cuyamel Steamship Company, which owns seven fast combination passenger and freight ships, especially equipped for the transportation of bananas. companies, after all expenses except interest and Federal income and profits taxes, and after depreciation, as by Messrs. Price, Waterhouse & Co., have been as Iuvestment Dept. Profits as above after depreciation $1,746,042 1,406,568 1,928,875 3,067,202 1,240,309 1,877,799 81 PER CENT EXTRA VOTED ffii?\—u‘\'n‘r\fimmmmu BB TR0 T Year ending December 31 1920 1921 1922 1923 1924 5-Year Average Investigate Our First Mortgage Notes 1 of this vear RADIATOR'S NET DROPS. What You Can Do with $10 A Month NVEST $10 a month in Smith Bonds paying 7%. Reinvest your interest at the same rate. In | 20 years you will have $5,176.60: in 30 years, $12,031.75; in 40 years, $25,671.90. $10 a month invested in this manner oetween the ages of 25 and 65 produces $20,871.90 in compound interest alone. 7% Our free booklet, “How To Build an Independent _Income,” describes o Investment Savings Plan for buyir Sar 7% First Morsgage Bonds. You receive the full rate of bond interest on all payments. Mail the coupon for our free booklet today. PURPOSE OF ISSUE The proceeds of the sale of these bonds and of the stock mentioned above will be used (a) to retire the outstanding $2,975,000 First Mortgage 7%% Bonds; (b) ff $2,000,000 in connection with the acquisition of tract of Ulua lands in the Republic of Honduras retire all banking indebtedness; and (d) to increase wor capital.” HEY constitute an ally safe investment, that will yield yvou the maximum return. De nominations of $100. $250, $300 and $1,000. BOSS Ab PHELPS LOAN DEPARTMENT Secured by estate | 85 W. . KING, Prevalling Joseph 3 Weller FEDERAL - AMERI CAN NATIONAL BANK RESOURCES, $14,0600,000 1315 F Street POOLE, Pr. essent It is expected that application will be made to list these Bonds on the New York Stock Exch Price 99 and accrued interest, to yield about 6.10% MANAGER 14 K Street NW > in 0o This offering is made in all respects when, as and if issued and accepted by us and subject to the appro il e 2 Sullivan & Cromwell, of New York and Mr. Arthur B. Schaffner, of Chrcago for the Bankers, and Lemann, of New Orleans for the Company. We reserve the right to reject any and all subsc to allot less than the amount applied for and to close the subscription books at any time with, TOX [SSATS €,vmm):7:~'-\f‘n, 2IBIOTRI0 It is expected that delivery of temporary bonds or interim receipts will be made on or about April office of Lehman Brothers, 16 William St., New York, N. Y., against payment therefor in New York LEHMAN BROTHERS GOLDMAN, SACHS & CO. A. G. BECKER & CO. AMES, EMERICH & CO. HIBERNIA SECURITIES CO., Inc. New Orleans, La. No Loss to Any Investor in 52 Years The F. H. Smith Co. Founded 1873 FIRST MORTGAGE BONDS Smith Building, 815 Fifteenth St. Equitable Co-operative Building Ass'n. JouN JOHN JOY EDSON, Prexident Organized 1579 $4,042,132.68 FRANK P, 45th Surplus REESID) THE F. H. SMITH COMPANY Smith Building, Washington, D. C. Picase send me your free booklet, “How_ to, Build an Independent Tn’ come.” 1 Name First Mortoage Loans| I Lowest Rates of Interost and Commission Thomas J. Fisher & Company, Inc. 738 15th Street ‘The statements contained herein are mof guarsnteed, but are based on information which we believe to be trus. Subscriptions for the 88th Issue of Stock Being Received “WHEN?” buyirg our FIRST MORTGAGE Address SAVE AND HAVE— the sum at Through Deposit a fixed intervals vou'll be surprised at the results. Equitable regular and You are assured due THOMAS J. FISHER & CO., Inc. Insurance Department taken to safeguard vo 915 F Street N.W. of our securities. Notes now on hand in amounts of $100 up. C. L. O'Donnell, Mgr. Mor(g. Dept. J. N. Hughes, Asst. CHAS. D. SAGER Realtor M. 36-37-38 924 14th St. N.W. REAL ESTATE LOANS | Small and Large Amounts CASUALTY RENTS BURGLARY AUTOMOBILE PLATE GLASS WINDSTORM Representing several of the largest insurance companies in the world, we are in a position to handle any line of insurance, no matter how large or how small. Rates are fair, and in case of loss settlements are prompt. APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY STATEMENT OF THE OCONDITION STATEMENT OF THP CONDITION Refinancing on Long-Term Basis LOW INTEREST RATES Unlimited Funds Available FRED T. NESBIT Investment Bldg. Main 9393 BONDS GERMAN srocc: Bought—Sold—Quoted Full New York and Beriin Market Received Daily Send for Special Market Letter Peter Whitney 203 Investment Bldg. Telephone Franklin 3978 Direct First Mortgage Bonds of large successful utility companies, secured by direct first mortgages, have always been in de- mand but are seldom available. We offer the First Mort 5% Bonds due March of Oklahoma Gas and E Company—a ‘utility doing gross business of more than $8,000.000 annually; net earn- ings ower 21 times annual bond interest requirements. Price 95 and Interest Yielding Over 5.369, Send for A-540 E. H. Rollins & Sons Founded 1376 416 Woodward Bldg., Washington Boston, New York, Philadelphia, Chicago, Denver, San Francisco Located in the District of Columbia and adjacent Subwrbs in Montgomery County, Md. 53 % INTEREST *__fl pply vo H. L. RUST COMPANY LOAN CORRESPONDENT Bhe PRUDENTIAL INSURANCE COMPANY of AMERICA 912 15th Street N. W. Main 6888 Large Loans Available S%2% Interest Insurance Company Loans Long Term Financing Building Loans Refinancing Weaver Bros., Realtors 735 15th St. N.W. Main 1821. of the | American Eagle Fire Insurance Co. of New York On the 8ISt day of December. | au under the Dist amended June 30, 1024, a8 re t of Columbia Code, 1902, and August 18, 1911 tock., stock, paid up, Cupital Capital $1.000,000.00 n’ cash..$1.000,000.00 Total sssets ...... LIABILITI Net unpaid claims......... Reserve as required by law Salaries, rents, expenses, . $524,556.24 4,230,676.09 axes, . Sprin- . Automobile, Explosion, Tnland arine and other insurance as and_Ovean granted by Amonnt of risk ring -$1,025,008,747.00 the Subseribed and sworh 1o befors me thls 6th dur of February, " 102, (Seal W) t stee. County, N. Y. Certifcate fied York County, N. Y., Clerk’s Office No. 53, Register's Office No. 5059, Com- mission’ expires March 30, 1935, Weste in 738 15th St. NW ot the Springfield Fire and Marine Insur- ance Co. of Springfield, Mass On the BIst day of December, 1924, as re- quired under the District of Columbia Code, amended June 30, 1902, and August 18, 1911 Capital stock.. Capital stock, paid up, in cash. .. . 3,600,000.00 Stocks and boad Bills receivable Interest dne and accrued . Total assets LIABILITTES Net unpaid elaims. .. as required by 12,271,733.82 rents, expense brokerage, eic. ... . Cash_dividends remaining unpaid _ 280,000.00 Capital stock 3,500,000.00 expenses of in: adjustment of losses Total liabilities ... Character of jusiness 'i: year 1024—Fire Insurance. Amount of risk assumed during 1924, . .$3,884,516,360.00 7.281,774.49 14.2m.310.13 13,453 BOLKLEY, President. . E HILDNDTH, Setrein Sibscribed and sworn o before me this 5th day_of February, 1920. (8eal) HEIDBL, CHAS. Notyry Fubit. My Commission expires March 26, 1926. . .318,063,342.92 ted durlig the year 192 Money received during the year 1924 Bxpended during the 'year 1924 STATEMENT OF THE OONDITION ot the Old Colony Insurance Company of Boston, Mass. On the 31st day of December, 1021, as re quired under District of Columbia Code. amended June 30, 1902, and August 18, 1911 OCapital stock. - $1,000,000.00 Oapital stock, paid up, in cash. Real estate mortgages (first lien) Stocks and bonds: (market value) Bills receivable Premiums uncollectéd and in bands of agent LIABILITIES Net unpaid claims . 00| Reserve as required by T Re-insurance premiums. ... Salaries, rents, expenses, etc. ., Commiss| Capital stoc Total labilitie Cuaracter of business transacted during the Year 1004—Fire, Marine and Inland fosur- ance. Amount of risk assumed during the year ’ 952,440.79 1924 ., 2,002,938.08 Expended during the year 1924 1,785,512.10 B, WINOHESTER. Vice President. JOHN 'P. MORGAN, Secretary. Subscribed and sworn to before me this 13th day of February, 1925. (Seal) ~ FREDBRICK M. DOMINICK, Notary Public. ~71/000,000.00 | & Loy -$384,780,708.00 STATEMENT OF THB CONDITION 0f the Commercial Union Fire lmurance Company of New York, N. Y. On_the 31st day of December, quired under thel District of C\ amended June Ospital stock.... Capital stock, paid ‘wp, ‘in cash 30, 1802, and Au Oash in bank. . Total assets ..... L1 Net unpaid claims. 2 Reserve as required s Salaries, “rents, "expenses, 612.648.08 ses of investiga- tion and adjustment of losses 5,000.00 Total Uabilities ... $2.763 Character of business transacied du year 1924 Fire, Motor Navigation and’ Transportat Windstorm and Cyclone, kler Leakage, Riot, Civil Commotion Explosion, Barthquake. nt of risk assumed during $340.810,085.00 (Seal) Queens County No. 47 N. Y. Conuty N Oomission expires March 80, 19 ‘T OF THE OCONDITION of the Connecticut Fire Insurance Co. of Hartford, Conn. JOIIN WHAREM, Secretary weribed 1o before me th day of Februiary, 1% (Seal.) ANDREW E. SCHUTTINHRIM, Notary Pub We Make a Specialty of Automobile Insurance THOMAS J. FISHER & CO., Inc. Real Estate, Loans and Insurance Main 6830