Evening Star Newspaper, March 29, 1925, Page 37

FIN ANCI1AL, THE SUNDAY STAR, WASHINGTO D. C, MARCH 29, 1925—PART 1. FINANCIATL, a7 BUYING IN STEEL STILL LESS ACTIVE General Business Slow-Up Is Reflected—Review of Other Metals. By the Associated Press. NEW YORK, March 28—The steel trade displayed further evidence of a general slowing down in busines dur- ing the week. In some descriptions, howeven the buying has continued of fairly satisfactory volume and this has given the market an frregular ap- pearance both in regard to business and prices. Structural material and sheets have sold fairly well, but, gen- speaking, the market is quiet- er. Production, while slackening, Is still belleved to be in excess of new business. Pig fron demand was quiet and the tone easy in absence of large orders. Copper Still Unsettled. Copper has been weak and unset- tled. Fresh business has run below the current rate of production and with buyers still holding off, sellers have shown more disposition to scale down prices in an effort to establish a trading basis. Some business has heen reported at each stage of the de- cline, but evidently of insufficient vol- ume to strengthen the position and | the week ended with prices at the lowest levels of the movement. settled ruling of the stock market as had a sentimental effect, as has the weakness abroad. The further de- cline in the metal has been accom- panied by a reduction of % to % cents in prices for finished products. Tin was unsettled with the late trend lower In response to heaviness in other metals. American deliveries for first quarter are expected to show the largest total on record and the world’s visible gives promise of a lib- eral decrease for the month. Lead prices were reduced following the easier foreign market and a poor demand for further shipment. Pres- ent prices make possible importation of xiean ore. Zine declined to about the lowest of the year in sympathy with weakness at London and in other metals. Antimony showed slight further re- actions because of recent arrivals, which relieved the situation to some extent. ROAD’S EARNINGS GAIN. Missouri Pacific Does Better February Than Year Ago. NEW YORK, March 28—February earnings of the Missourl Pacific were better than those of the same month last year, surplus, after charges, amounting to $282, $162,933 a yvear ago fncreased $721,900 come gain ,800 and total income was $1,423.455, against $1,193,961. Surplus for the two months this 3 was § an increase of $487 in over the corresponding period of 1924, | WEEKI.Y BANK REPORT condition and trust of clearing companies house lmnks for the week | shows an excess of $23,591,030. This is an inc in reserve of $45,-| 410,500 -over last week, when there was a deflcit of $21,819,470. The | compared with | iross revenues | Net operating in- | SOUTHERN RAILWAY ARGUMENTS ENDED Briefs Ordered Filed in Suit for $29,000,000 in Back Divi- dends. By the Associated Press. RICHMOND, Va., March 28.— Hear- ing in law and equity court here of the suit by the Norwich Power Co. and other holders of preferred stock In the Southern Rallway who seek to col- lect $29,000,000 which they claim fs due In back dividends, ended late to- day, The court ordered counsel to prepare and submit briefs. With the insistence that preferred stockholders of the Southern Rallway are really contesting the discretionary powers of the board of directors in their suit for $29,000,000 back dlvi- dends which they claim due them, Thomas B. Gay, Richmond attorney, closed the rallway's case. “And as for the preferential rights of the preferred stockholders, who has the board of directors been favor- ing?" he asked. “The common holders waited 30 years for a dividend, while the preferred stockholders, in accord- ance with' preference recognized by the board of directors were receiving $51,500,000 of the $142,000,000 net earn- ings of the company. The common stockholders, as a class, have con- tributed three t oone to the upbullding of the rallway property. While the common holders were putting $67,000,- 000 into the property, the preferred holders were putting in $23,000,000. And now they want that back.” BONDS GERMAN sroccs Bought—Sold—Quoted Full New York and Berlin Market Received Dally Send for Special Market Letter Peter Whitney 203 Investment Bldg. Telephone Franklin 3978 Guaranteed 6'2% First Trust Notes Real Estate Mortgage & Guaranty 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 $2,000,000 E. BREUNINGER, Pres. | L SILK SALES IMPROVE. Recovery of Ten Cents Per Pound in Saturday*Market. NEW YORK, March 28.—Large raw silk sales, induced by the lowering of prices earlier in the week brought about a recovery of 10 cents a pound as the week closed today. Spot bur- 1aps declined 15 points, although the primary Calcutts markets were higher. Cotton goods were qulet. Print cloths were lowered one-quarter cant from a week ago. Rayon production will be Increased in this country 50 per cent by the end of 1926 in ac- cordance with new bullding plans now under way. The head of the Associated Gar- ment Industries has sent out a warn- ing against the wide production of “fads" and “fancies” In novelty colors and weaves, owing to the risks at- tending their steady movement. It is now admitted that barely 50 per cent of capacity production has been or- dered for Fall in men's wear and women's wear lines. 2,596 GET NEW JOBS. DETROIT, March 28 (Special).—In- dustrial employment {ncrea. 2,696 the past week to a total of 223,44 This is a total increase since the first of the year of more than 26,000. The automoblile industry accounts for the bulk of the increase. CHICAGO STOCK MARKET. CHICAGO, March 28.—Armour pre- ferred, 87; Cudahy, 103%; Libby Mc- Neill, 714; Middle Utllity, 92%; Swift Union Carbide, 123; International, 28%; 66%; United States Gypsum, Fair, 333. “WHEN” buying our FIRST MORTGAGE 6%2% INVESTMENTS You are assured dus been taken to safegua: ur {nterest. A personal inspection and conservative valustion are tws of our striot require- ments. Prompt and courtsous servics follows the purchass of our securities. Notes now on hand in amounts of $100 up. C. L. 0’Donnell, Mgr.Mortg.Dept. J. N. Hughes, Anst. CHAS. D. SAGER Realtor M. 36.37-38 92 14th St. N.W. tion has hen You Have Funds to nvest, Consult WELCH, Loan Specialist Established 1599 6142% and 7% Real Estate Notes for Sale in Amounts from $250 Up to $1,000 or More. Consult Welch, Realtor Loan Specialist 15th & N. Y. Ave. M. 4346 Reference: Any Bank, Trust Co. or Title Co. In the District. N - BUTTER PRICES LOWER. CHICAGO, March 28.—Butter, low- er; creamery extras, 45%; standards, 451 extra.firsts, 4415a45; firsts, 40%a 43%; seconds, 33a373. Eggs, lower; receipts, 23,745 cases; firsts, 20%; or- dinary firsts, 28; storage pack extras, 30%; firsts, 30%. When You Need a Loan Think of WELCH, Loan Specialist Money to Loan At 5,% and 6% INTEREST Befors Placing or Renswing Your 1st or 2d Trust Consult WELCH, Realtor Specialist Reaxonable Charges 15th and N. Y. Ave. Main 4346-4347 A corporation now entering this terri- tory reauires the services of a high re executive with previous bank- ing,Anancial or marketing experience. A record of unusual ability and the highestintegrity will berequired. After therove® iavestigation, a gersonal in- terview will be grapted. Reply with history and local bank references to “Ezecutive” P. O. Box 870 Doing with the surplus of your earnings beyond actual needs? Surely you are not fool- ish enough to invest these funds at any low rate of interest when we can sell you excellent FIRST MCRTGAGE REAL ESTATE NOTES, paying 6Y3%. NOTHING SAFER NOTHING SIMPLER; NEVER A LOSS; NO SUPERVISION; WE AT. TEND TO EVERY- THING WITHOUT CHARGE TO THE IN- 'VESTOR. Ask us for literature with- out cost or obligation Mortgage Investment Dept. 713 and 715 14th St. N.W. BOSTON, March 28 (Special).—The raw wool market closed the week at unchanged price dealers WOOL MARKET STEADY. but to with the levels, optimistic, - owing hardening of prices with which the Sidney auctions mnded. at Sidney were about 5 the opening. Medium and low grade wools have the call in trading here. Final prices per cent above BMALL COMPANY forming to take over one f the la t Maryland poultry farms: buy ot it de, e electric lI prolonging day, storl eggs when chea fowls; cheap feeds in car lot Andrew Benton, 515 10th st. POULTRY COMPANY before sellin; Letters only. ., ety Money to Loan Becured by Srst deed of trust on real estate Prevailing interest and commission Joseph L. Weller 490 Wash. L. & Trust Bldg., 9th & F N.W. Large Loans Available 512% Interest Insurance Company Loans Long Term Financing Building Loans Refinancing Weaver Bros., Realtors Main 1821. 735 15th St. N.W. An Unqualified First Mortgage Guarantee as to Surety Real Estate Investments Within the next several days, immediately upon completion GOLDSMITH & COMPANY will offer, subject to ries of their new first mortgage guaranteed notes bearing the unqualified and unquestioned guaranty as to the pay- ment of principal at maturity and interest upon the day due of one of the largest Surety Companies in the United States. beyond question, of arran nt: priority, a guarantee assures, safety of you offered by this house, of Columb secured by It is an lIronclad Gu: usual guarantee which our investments have borne as to the certification and clarity of title and every | terests It is a pleasure to be able to offer to our present clientele, as well as our prospective clien- legal and moral requirement nex and investments of our clients. tele, this additional and absolute first mortgage investments as offered by GOLDSMITH & COM- | PANY above any investment now offered or heretofore offered No matter how conservative the how stringent the demands as to safety and safeguards our Investments under es of notes will meet and fulfill every requirement in .the city of Washington. investor may be or these new propertit aranty ver and above ry to safeguard the leguard, and it places requirements. and every demand that is humanly possible to think of. Ask Our Trust Department for Par- ticulars on This Series to Care for Your April Maturities. 1405-7 Eye St. N.W. Goldsmith Bldg. Main 9670 This the certaln and absolute investment in First Mortgage Real Estate Note: in the District as offered heretofore, | the the WE FINANCE A1l claswes of income-producing properts. Large Loans a Specialty Current int. rate and com Higbie & Richardson, Inc. 6 15th St. N.W. Continental Trust Company Capital One Million Dollars 14th & H Streets BUCK and CO. Established 1916 Stocks and Bonds Direct private wire to Philadelphia and XC\Vi ork. We buy and sell listed stocks outright or on margin. Write or call for our Weekly Market Letter. Our marginal requirements are reasonable and attractive for small traders. BUCK and CO. 312 Evans Building Fr. 7300 1420 N. Y. Ave. N. W. Main 8673 » THE MONEY YOU SAVE —will be safest and most pro- ductive if you invest it in the 6Y2% FIRST MORTGAGES —offered by this Company Let us explain our PARTIAL PAYMENT PLAN Century Without a —by which you get £ s the date of payment on every dollar you lay by. B. Main 2100 F. SAUL CO.,, 925 15th St. N.W. ~H. L. RUST COMPANY GENERAL INSURANCE 912 Fifteenth Street N.W. STATEMENT OF THE CONDITION OF THE UNITED STATES BRANCH OF Corporation, ident & Guaranty Limited. 114 Fifth Avenue, New York City, ©On the 3ist day of December. 1924, as required under the District of Colum! - June 30, 1902, and August 18, 1011, e meast e premiunis A rents, expenses, taxes, brokeruge, et it All other lities cpaTotal liabilities . naracter of business fransacted during (he Losses paid_during the vear 1924 received during the ed duriog the year 1 Subscribed and sworn to before me this _ (Seal.) Kings County, County. office, New ate filed_ New York ye + Credit and casualty. C. " 20th day of Fel JOSEPH H, rm:n. Notary Public. i register's office, Kinga My commission expires nt York County, STATEMENT OF THE CONDITION Of the Orient Insurance Company of Hartford, Conn. on the 31st day of December, 192 under the District of Colnmbi June 30, . as require: code, L 1911 amende 19 . and August Capital stock authorized.... Capital tock, pald up. in cash. A The Ocean Acc Capital stock deposit seavesamen AR S - Stocks and A% arket value) . = & s All other assets . . ceseee . . Net unpaid claims S = S d by w % . bie 2,000,000.00 +1.000,000.00 STATEMENT OF THE Colonial Fire Underwriters Branch of the National Fire Insurance Company of Hartford, Conn. on the 31st day of Decembe 4 | Sner. the Die Shumbia. cad June 30, 1902, and required mended of Coiumbia_code, August 18, 1911. Capital stock Capital stoc! £3,000,000.00 aid in cash. 3,000,000.00 ASSETS. REAL ESTATE LOANS—SALES—RENTS Insurance in All Its Branches Protection - - - - Service Fire Bonds ' Liability Marine Sprinkler Leakage Accident and Health Business Interruption Automobile Riot and Civil Commotion Personal Effects Rent Boiler Burglary Transit Jewelry Members of the Insurance Club of Washington Casualty Hold-Up Plate Glass Engine Breakage Transit Oa the 3ist day of December, 1924, Capital stock . %5 Capital stock, paid up, in cash . Interest due and accried - All other assets ... e Salarles, Commissions. Capital stoc ALl other liabilities Character of busines Amount of risk assumed during the vear 1924.. Tosses sustained during the Money received during the. Expended during the year 192 Phone Main 6888 STA'I"EQ!E&‘I‘ OF THE CONDITION OF TH Firemen’s Insurance Company of Newark, N. J. s required under the District of Columbia Code, June 30, 1002, and August 18, 1911 amended iges (Brai Tiew) ] ind hvnfllnlml et vale) . ted andin’bands of agents’ Total assets ... LIABILITIES. Total labilities ............... S o transacted during the vear 1024: Fire, ocean, marine. torango, hail, sprinkier leakage, riot and earthquake mof inland navigation. $1,345.403.699.00 7 4,483,185.18 ar 1924 . r 1924 . JOH\ KAY "ne Fresident. W. J. SCHMIDT. Asst !;:;fllrv this 14th & £ March, 10 acr s a3 of March. T:ell )‘b.d et e ; JAMES K. MELDRUM, Notary Public. Ll'lze Concordil Fn'e Insurance Company of Milwaukee, Wis. on the Slat day of December, 1924, as required under the District of Columbia code, amended| June 30, 1902, and August 18, 191i. Capital stock. (Capital stock, paid up, in cash $1,000,000.00 1,000,000.00| Cash in office $5.619.12 | Cash in offies 255,020, ABSETS. Cash in bank. 16.58 | Cash in banks. 3,465.099. 0, Hal astate . 818.144.48 | Treal estate o 2 Xk Stocks and bonds (market value).. 4.710,010.50 | Real extate morieages (oot Tion) 1.914,200.00 j{market value). 3,280,155.00 emiuma, uncollected and n o |Stocks and bonds (market value). 26,141,178.52|" Sraai sy abieuceied A0 IR e mse 11 Wil St e oo | mills_recetvabie. . . 337,726.90) Interest due and acéred: 480.20) Al other assets: Relnsurance due ; Freniums (ucgliacten and, 1A By = A e due hands of agents) 3,087,863.15 Total assets. | “eiiaeeeceses. 21463.75 | Interest due and acerued 382,002.04 i All other assets... 59,813.65 Total assets. ... -86,734,805.88 EIABILETTIN = Total asset $35,044, 151,77 et unoald claime........ $301,964.78| Net unpatd clatmbe o $275,082.58 = il et % SN, e LIABILITTES. Capital stoct :::;’.A"“:"':“":‘_‘;L:l e 32A40TTT | Not unpald claims. $2.487.487.51| A1l other liabilities. ete. sl | R R . Ty Total linbilities .35,289,960.12 Comimissions, brokerage, etc...... 8.000.00 3 3 4 50,000.00| Character of business transacted during the Capital stock.... + 21000,000.00 | ocamtestons, roNernghl ate 50,000.00| year 1924: Pire, lightning, tornado, hail, Al other liabilities. 100.000.00 Surplus Total - liabilities the year 1024 Losses sustained year 192 Moges ¢ received during the year Bxpended during the year 19240 A, G. MCILWAIND, President. a\mu\ the. A. H. MURPHY, Becretary. Subscribed and sworn to before me th 18th day of February, 1925. (Seal.) GEORGE W. MASTAGLIO, Notary Publc. Capltal stock Al other liabilities. Total liabilities. Amonnt of risk_assumed dur- ing the year 1924. .$3,782,430,880. Lowses sustained during the year 1924 10.05 577.28] (Signed) H. A. BMITH, (Signed) §. T. MAXWELL, President. Secretary. i8 | Subscribed and sworn to before me this 3rd| day of March, 1925. (Signed) . L. HILTO Notary Publ sprinkler, leakage, rlot,scivil commotion and| explosion insurance. Amount of risk the year 1924. ,198,714.39 tned during the year 1 1,625,514.77 med during Money received annnl the year 1924 . 3,905.978.60| Expended during the year 1924.. 3.475,5680.0) STATEMBNT or 'ran CONDITION [ STATEMENT OF THE CONDITION Sterling Fire I;‘s;:nce Company of Indianapolis, Ind. on the 3ist day of December. 1924, as required under the Disirict of Columbla code, amended June 30, 1902, and August 18, 1911. Capital stock. . Capital stock, paid ip, ASSETS Cash fn off d bonds (market value). Premiums uncollected and hands of agents. Interest due and accrued. Total assets. LIABILITIES. Net unpaid elaims. .. Reserve as required by law. Salaries, rents, expenses, tazes, o $279,839.20 1,346,811.98 29,900.00 Commissions, brokerage, etc. 1,100.00 Capital stock 850,000.00 Surplus . 436,754.20 Total labilitie +.82,944,406.38 Character of business transacted during the year 1924: Fire, motor vehicle, inland navi- gation and transportation, tornado, wind storm and cyclone, hail, sprinkler, leakage, riot, civil commotion and explosion, rain and flood insurance. Amount of risk assumed during, the year 1924. . $470,767,266.00 Lowes sustained during the year 1t 1,880,583.50 Mor ved durin the vear 1924.. . 20.214,276.02 Wi B WOLLARGER, Expended during the year 1924 18.535,405.32| R- B. BRANDENBURG, ek Secretary. Subscribed and sworn to before me this 27th| day of January, 1925. (Beal.) BARBARA GLOBISCH, Notary Public, Milwankee Co.. Wis. My commission expirer Dec. 16, 1928, Moner received ducing the vear Expended during th 1924, 1.847.572.0 e i e OSCAR L. ROSS, President. Secrétary. Subscribed and sworn to before me this 13th day of March, 1925. (Seal.) SALLY HARRISON. Notary Publle. (My commission expires Feb, 14, 1929.) Century Insurance Company on the Sist day of December. 1024, Capital stock deposit. Cash in bank... of agents. the ¥ Losses day of March, 1925. STATEMENT OF THE CONDITION Ot the of Edinburgh. ired Amended Tict of Columbia cod 1003, ana” Auguer 18, I8 Capital $100,000.00 Capital ASSETS. $109,872.28 142.219.00 Total assets. +$1,260,111.62 ar 1924 snstained during +$200,136,862.00 e 3.0 STATEMENT OF Total assets. of the Automobile Insurance Company of Hartford, Conn. on the 3ist day of December, 1024, as re- Qquired under the District of Columbia code. amended June 30, 1002, and August 18, 1911 -85, stock, paid up, in cash.... 2, stock.... ASSETS. Real estate mortgages (frst lien) 15.000.00 [ o Stocks and bonds (market value). 903.818.08 | Cash in hamk. A Premiuma uncollected and fn hands Real estate morigages (frst ifen) Stocks and bonds (market value) 10,140,080.00 Interest due and accrued. 16,282.87 | premiums uncollected and in All other assets 42.350.58 | hauds.of agents. 6. Market value of Interest due and accrued. over book value. 28,573.81 | A1l other assets LIABILITIES, LIABILITIES. Net unpaid claims.......... $121,906.33 | Net nupaid claims... $1.977,018.54 Reserve & required by law. 1.500.00 | Reserve as required by law .... 14,607,588.05 Refusuraace premiums. 490,588.27 Salaries, rents, expenses, taxes, 541,263.61 ete. .. 80,000.00 ,000.00 Total labilities. 5ii BERGpLAR] SO ids semkine naw. SRS Character of business transacted during the | Q1 < s year 1924: Fire, marine, motor vehicle, | A1l Other liabilities. s = af o * | Surplus over all liabilities. 2,538,414.65 tornado, inland marine. m— Amount of risk assumed during Total liabilities. $21,807,151. Character of business transacted during the year 1024: Fire and marine jnsurance on the tock fire plan. Fear 1924 862,204.18 | Amount of ris sumed dur- Money received during the year ing the year 192 B $7,546,312,708.00 1924 ... 817,608.57 | Losses sustained dlu'lll‘ the Expended durlog the year 1924, 715,227.74 | Vear 1024 50 10NN 18 Money received during the CHARLES 8. CONKLIN, Jear 1024.. 80,402,351.87 Assistant Manager. B nM during the year Bubscribed and sworn to before me this 11th Xs. 25,174,968.94 REMINGTON SARDEN, Secretary. THB CONDITION Vice President. 000,000.00 000,000.00 $1,143.93 116,168.51 '995.200.00 786,455.58 STATEMENT OF THB CONDITION OF Newark Fire Insurance Company OF NEWARK. NEW JERSEY On the 81st day of December. 1024, as re. quired under the District of Columbia Code, neied Ture 35, To0%. and Auguat 18, 011 STATPMENT OF THE CONDITION Of the UNITED STATES BRANCH OF THEE London Assurance Corporation of London England. on the 31st day of December, 1924, as required under the District of Columbia code, amended June 30, 1902, and August 18, 1911. Capital Capital Cash fn office Cash in bank Real estate. estate ASSETS (Arst o5 mor(g: Cash in_office Cash in bank. Stocks and bor ‘and” ‘(market bonds Prem! uncollected aud : hands of agents.. §20.690.84 | Premiums uncoliected and in Interest due and accrued. 1.508.13 | hands of agents : All other assets: Due from other authorized companies for rein- surance on losses already paid. Interest due and accrued. ... All_other assets: Detroit and Philadeiphia Fire Underwrit- ers’ Associatio 300.00 Total assets . Due from reinsu; il on losses paid. +.$1,198,337. Total assets. Net unpaid claims, IIANHTIE“ Reserve as required by law. 8.065.130.04 | xot unpaid claims.. ... $516,478.78 Salarles, rents, expense Estimated expenses of adjust- ete. 185,145, ‘ment 14,141.09 B e 387 30 | Reserve ired by 1a 5,101,331.08 Commission kerage, etc 38732 | gylaries, Tents, expense ALl other liabllities: Estimated ex- taxes, ete... 0100 i Commissions, bro . ete 2 penses of investigation aud Commissions, Brokerage. eic.. adjustment of losses . Y ¢ iy L Capital ‘stock " 1,000,000.00 Character of business transacted during the | Reserve for dlodn‘muon oncoms o 24: P feloa vany's building. - 7.082.01 geker HDEL BRI (MATIDE: MotE, Yooy Prepaid interest... 150,00 tornado, sprinkier, leskage, riot, civil com. | Lroreid iaterest.. coot.iil. motion, explosion and earthquake. thorized losses...... Amount of risk_nssumed dur- Tog the year 1024......... $1,430,770,283.00 | Total . . Losses sustained during the e, 5 s year 1924..... 2401,645.32| rotal liabilites. . 36,000,388 31 Money received during the Character of business ransacted during fhe year 1924 . oTooAsL| wear To24; Fire, Tornado - Automobile, 24 Marine, Sprinkler Leakage, Explosion, Expended during (he year 1024 6,900,405.83 s B JOHN H. PACKARD. A. B. MONROE, Fresident, F. L. FARQUHAR. Segratary, at 129124, and President, United States Manager. Subseribed and sworn to before me this 21st day of February, 1825. gt RO ary Bublic, | Subscribed and sworn to befors me this 8lst | * (Seal) T. LIVINGSTONE KENNEDY, Chfb""r’,fi‘d":’;‘f’f_‘?:;"‘;"’gdm m.”im. New. York Oounty, New York County Clerk's | {0 {12 %5 o pynyms Notary Publlc, | gtn day of February, 1925. No. 718, New York Register's No. 6152. Com- otary Public. | Richmong, Co.: certificate fled o N. Y. | (Seal) MAY COSTELLO, ‘minsion expires March 5“ 1926, (My commission expires Feb, 1. 1825.) | County. N. Notary Public for New Jers -,