Evening Star Newspaper, April 9, 1925, Page 29

FINANCIAL. THE EVENING AR, WASHINGTON, D. €., THURSDAY, APRIL 9, 1925. FINANCIAL. - - PARIS MARKET STEADY. i = & ] Prompt Actlon PARIS, April 9.—Prices were steady “ » g NEW YORK CURB MARKET ||t b mssis e FOLLOW" || First Mortgage Loans ° Received by Private Wire, Direct to The Star Office rentes, 46 francs 10 centimes. Ex- —the advicoe of the 'best 4 o8 of Toterest and Commission el - M haes" Five per_cont joan. &8 reace| B authorities on investments and" {{| Thomas J. Fisher & Company, Inc. FIRST MORTGAGE NOTES BY WILLIAM F. HEFFERNAN. | ard Oil of Indiana was lower, break-| 70 centimes. The dollar was quoted | § For Investors your choico will be i 5.15h Btrest NEW YORK, Aprll 9.—Tho curb|/ng below 62 at one point. ' A few|at 19 francs 48% centimes. The| J |l FIRST MORTGAGE NOTES = S——— FOR SALE ek vas In demand at 64, | bourse will be closed tomorrow, Sat- market quisted down today and price | g 0BG 1t s 0 K atock and | urday anc Monday, Easter holidays. “JRIFTY-TWO YEARS OF [l ||l “Courts Recommend Them” 1ges wero extremely w, a8 1| Vacuum also were heavy. — ! PROVEN SAFETY"--tells “Insurance Companies Buy | i 3 The public utility ehares were irTeg-) o ooq Luin represented in a 24- why Smith Bonds are safe “Them"™ oF Tubuprity IN DENOMINATIONS OF in spec u(lu(l\]u me- | ular. Lehigh Power xt-rux"\“l‘(‘kswl:lltll; page newspaper Is made from a block bonds; how Smith Bonds are “Banks Insist on Them" { turned dull, and, | vanoed about 2 polnts to 100, While | ¢’y o0d two inches hikh, three inches | N eacecuarded; how our recosd of “Lawyers Advise Them" 500 DOLLARS AND UPWARDS were fractionally [ National Power d Light =0ld at & ciq0 und four inches long, says a f 3eqw mew top for the year: Centrifugal no loss to any investor in 52 oiTigupactive of this, people daily Interest Begins at Date Is sagging tendency was particu- | Pipe was one of the few features, gain- years is maintained. | in hazardous promoting schemes. of Purchase. Partial ticeable in th of such|ing further ground before any profit- Buy First Mortgage Notes Payments Accepted E Humble OI1 ich had | taking was encountered “HOW TO BUILD AN - | closed on the previous day at 49 and| In the afternoon Red Bank Oil had a PENDENT lNC%ME““:BfS Bearing 6%3% | ~, i today got down around 47%. Stand- | sharp advance. ANY AMOUNT | . You can then foretell years in ad- | / A —_—_— H Edition)--Tells how you can buy |~ vance the value of your savings. d 4 NEN APARTM [ENT. [OUSES BUSINESS PROPERTY & . . YORK, April “ollowing Eareka. Croesus s RESIDENCE LOANS AT Low RATES ||| [| SmithBonds with savings of $10 CHAS. D. SAGER One of the largest bonding a ks | 820 Fo ine Mines.. 2 | || or more a month; how yo | anies i T ¢ i -Following ke Croenis FRED T. NESBIT || || otimerea menth: bow you cen e s companies in the United States [ 1821 Conneclioat Suenue o S X(urrmul Div 7, ~ v York Curb Huomlll Die_ oo 1 ) 924 14th S¢t. N.W. Unconditionally Guarantees 3 Hicla Mine 5 5 INVESTMENT BLDG. Main 9303 | ments; what you can accomplish |f | SRR ] | every First Mortgage Note we by systematic investment at 7%. ! offer our clients for investment. g vaouiiion st ek i : . Also principal at maturit | Money to Loan SRR interest when due. Y 2 Gecured by first deed of trust on real estate booklets today. ] FIRST MORTGAGES Prevailing Interest and commission = The F. H. Smith Co. FOR SALE 40 | Joseph'l Wdfilel:fi'&.w "o{'i.% {;r"v?‘: p.ww' 1873 | Denomlsmtlom of $250, $500, $750, { Denomsnations of $100 ¢ o 7| p—————im N Tile e A B s 88 i | 1,000 and upwards p. Consult Our Bond | e I FEDERAL- AMERICAN Smith Building, 815 Fifteenths. | |§ 6Y2% and Mortgage Dept. ! FOR INVESTORS 11 Ciab Apes 16 Wenden Copper All Loans Made on FProperty B B R : THR ¥. H. SMITH COMPANY Bcherecry - NA TloNAl‘ BANK | J| smith Building, Washington,D. c. ] | B L e .| CALIFORNIA CHERRIES RESOURCES, $14,000,000 | 1| .o mesomotmnioe || | 3 g e e’ e opyp A e MORTGAGE NOTES IN EASTERN MARKETS 1315 F Street 4 e 1 i e v | 14052 e SN, M 9670 % | Special Dispateh to The star. JOHN POOLE, President > IN CONVENIENT DENOMINATIONS NEW YORK, April 9—California | fresh cherries appeared in the New = — 3 = - ON IMPROVED PROPERTY York market today for the first time | this »n. The shipment, consisting | in DISTRICT s COLUMBIA o |of one box containing eight one- | pound cartons brought $100 after spir- ited bidding. ! Old crop onlons were slightly weaker on_slow. Gemand. Yellows MORTGAGES AND wholesaled at $3.50 to $3.75 per 100- ST i v MORTGAGES : e oy T 56 Years’ Proven Safety H. L. RUST COMPANY BOSTON, April 9 (Special).—The ) There is a danger that some 912 15th Si " Main 6888 % |raw wool market was little changed : as to prices today and the few e/ investors think that all mort- hanges recorded e backed by s o o el : OR 56 years, Swartzell, Rheem & Hensey ded only as nominal. Fine fleece || gages are good. k 4 olaiaearn fiels ekl aatablisned ui gag g | Company has offered safe First Mort- E—— s grease basis as against 58 : d I gages to the most conservative investors. TRUST 5 3 = a few days ago. ! 1t is the proportion between This record speaks for itself.: More Tllan NEW YORK DAIRY PRICES. Quarter * the value of the real property ||| Safety and Income always go together Serciii- R o p———— i when you invest in our Notes. At this time e :on b | a Bank NEW YORK, April 9. —Butter— || £ : r teady Irm-vl-;]u;.&(lx"";':s tibs: -cream- i of a pledged and the amount loaned you can secure 615 % interest on your funds igher an < S, pa B o | . . . i i H § ; do., firsts, 88 to | | Contery on it that gives real quality toa invested in the securest type of First LADIES { ol m receipts, 50670 : mortgage - Mortgages. FOREIGN i i S EieiREa ceipts, 506 7% 5 : . B mere_bank to innumer- sh gathered, firsts, 28a281s; Without a gag We suggest that you communicate with JouANGE 12 U] able Washingtonians. , storage packed 4a30. [ 2 7 LIE L1 14 e e | Loss. ¥ £ us and take advantage of this opportunity TRAVELERS' £l RERE % She fathorsischiarands $1,200,000 OIL SALE i Our thirty-two years’ -ex- for the safe investment of your funds, with cHmOKs =t X -y bl ki st 2 perience is of great value to a substantial interest veturn. S depositors “‘grew up” with WICHITA FALLS, Tex., April 9.—|| AND LETTERS I this bank, so this old in- ~ stitution has the status The South Vernon Oil Co. has sold z B its holdings In Wilbarger County,|| the public. Don’t experiment, . OF CREDIT. ] [ o2 tamily friend” to = them. 43" [ Tex., comprising 146 acres of 1 | B . Tex., comprising 146 aores of lsases don’t try for too much interest, || MZELL%HEEM&HENSEY Co. — e hessisilin e Okla., interests, represented b; 3. | e A don’t take chances. ~52eet. N\W ™ —111 Years Old consideration was $1,200,000. ah l -n 3 D c G ’3‘“:“1" 3 1 ‘vTTA.‘:;"5:;?}52%?3?}&&:’3x::x; B. F. SA L 5 56 Years Without Loss to An Investor Metropfllilan Bank DEPT. One of the surest methods o Al b oty S gussose o Main 2100 925 15th St. N.W. ey S F ! t. If your banke: . . sider 1t sa collatera , Opposite reasury Ketability — All of this stock has been sold. This advertisement appears as 2 matter of record. $5,000,000 Equitable Office Building Corporation Bonds That Have Won q (EQUITABLE BUILDING, 120 Bnomwn,gzw YORK clr)rw e e . . 7% C rtible Cumulative Preferred p R S| on Their Merits S R An accumulative sinking fund of not less than $50,000 per antum, available semi-annaally, beginning October 1, 1935, is provid carnings mm"’“%‘l’?“"“l‘&afifl% grfi;’%mhmbhmyh N“:‘ll%,:p:m gg‘;:m p-l;':b;: Once upon a time ferry bonds were popular and good per share and accrued dividend. Dividends free of prescnt Foderal Normal Tncome Tax. It be expected thet appiication will Do mass in o s b public utility securities had to fight for public recognition. l_‘\_n n:b preferred ;'v:c'k;:* :hége- York Stock Exchange. Transfer Agent: The American Exchange National Bank, New York. Registrar: Empire There was a time, too, when good real estate bonds lacked : : . ek fl easirecE tl,le reciationiof i o Each share of Preferred Stock anvmiblse at ":v’i tli:no at the holder’s option into two shares of 2pp! vestors generally. mmon Stock without par value EPENDENT OIL ST April 7,1925 But tho;e times have P”“fd- Today, Straus Bonds, the best Thefollowinginformationiscontainedinaletter to usfrom Mr. FrankV.duPont, President of the Corporation: grade of first mortgage seml real estate lfond-, form impor- Equitable Office Building Corporation, the common stock of which is being acquired by New York Empire Co., Inc., : > tant parts of the bond holdings of banks, insurance compan- owns and operates the Equitable Building, 120 Broadway, New York City. % Forien Co i : 2 o 5 o, 3 The Equitable Building, one of the largest and most valuable office buildings in the world, was completed in 1915. It 1 B = ies, institutions, and cxperiencec} individual investors. On cocupies approximately 50,000 square fet of land owned in fee, bounded by Broadway and Nassa, Cedar and Pine Strects, o piin Gy SR their merits, they have won their place in the investment in the heart of New York’s financial district. The building, forty stories high, contains approximately 1,350,000 net rent- market of the United States. able square feet, is served by 64 elevators, and, in the opinion of experts, surpasses any other office building in the City in mfllgofw and equipment. It is estimated that a building constructed on this site under the present zoning It must be remembered, however, that real laws of New York City would contain less than 73% dthenetmhb}eunin the present Equitable Building. ds diin < ,ume Among t.hn important tenants are General Electric Company, Union Pacific Railroad Company, Empire Trust Com- bonds var Yy W_id ly qualit‘ y—from prime invest- pany, American Smelting & Refining Company, Tire & Rubber Company, American International Corporation ments to dubious speculations. and Southern Railway Company. The Bankers’ Club of America occupies the upper three floors. g g INVESTMENT IN COMMON STOCK . Theinvestor’s first precaution should be in the selec- New York Empire Co., Inc., will acquire substantially all of the 125,000 shares of common stock of Equitable Office o | tion of his bond house. On its ence, its judg- Building Corporation, to be presently outstanding; representing a cash investment by it of more than $4,750,000 in stock R, ; } . ARi3 XL ? = junior to this issue of pr “erred stock. K ment, its knowledge, its integrity and its good faith ER : A : 3 Bd & s o cor i depend the lafety of his investment. This is even ? ‘The clp:talmtx_on of Equitable Office Building Corporauan. after giving effect to this financing, will be as follows: 3 - i more trueof real estate bonds than of othersecurities. anflfim s avesk ible by .‘.?,’.“i" ‘never exceeding ’fi":g:m G- Rpaos 5% Debenture Bonds, ble by 1952 by sinking fund (Secured by The record of S. W. STRAUS & CO., covering 43 $4,814,000 2nd mortgage bonds and a further mortgage securing the X years in time, the nation in scope, and hundreds of i 1% t(’:::::zgl;l'e' Cumulative Preferred Stock - . ?’gz'm milliom.of dollars in volume; and the long experi- ‘ Common Stock (Authorized 225,000 shares no par value; 100,000 shares ence, wide knowledge and unequalled technical reserved for conversion of preferred stock) . . 233 125,000 shares . L o a0 i ability of our nationwide omn"z’fion' afford ample ‘lndudnflmooflbabenm Bonds reserved for exchange of a like amount of Second Mortgage 6% Bonde 7 Keyvton s K | warrant for public confidence in Straus Bonds. : BARNINGS 18 Tt Towe: o ;w0 3 The earnings from operations of Equitable Office Building Corporation for the two years ended December 31, 1924, SIeh vion MU S Wi 3 Do you include Straus Bonds in your strong box? An in- after giving effect to present recapitalization and findncing, as certified by Messrs. Arthur Young & Co., public account- ! creasingly large number of shrewd and experienced investors e Bave i : ; i 1923 1924 e e 3 buy them for safcty, good income, a steadily b: Rentals and other operating incoOmMe. . ...cueuerevreianapons ,446,649 $4,497,937 B AR S 0 bl ’ ly broadening Net i before interest, depreciation and Federal Taxes. 2,696,271 2 AR L 2 market, and freedom from care. They should form a goodly Interest, depreciation and Fedsral Tazes. i 1,855,593 V201,467 0 e - i portion of every sound, well diversified investment list. Net earnings available for preferred stock Cesiiayiheg 840,678 883,448 Maximum annual dividend requirement on preferred stock. ... 350,000 We are now offering a variety of well-secured bonds, yielding Such net hl;minu from opentions,snl%;roofi;l} mlinte::ng cha“ri‘u, and ;lepremhon reoer:? of nearly $400,000 per . Y . annum (which reserve was more than X in excess e requirements for amortization of funded debt), were equal for the most part 6%. Literature describing these issues and in each year to approximately 2.5 times dividend requirements on the present $5,000,000 preferred stock, and, Tfier explaining the safeguardn of the STRAUS PLAN will be sent allowance for such dividend requirements, were, in 1924, $533,448. on request. Specify _\ : We offer this stock for delivery when, as and BOOKLET 369-G if received by us, and subject to approvalof legel proceedings by our counsel. It is expected that delivery will be made on or about April 16, 1925, in the form of temporary stock cectificates, or interimreceiptsat Dillon, Read# Co. Price 100 and Accrued Dividend. To Net 7%. S W S' I ‘RAU S S CO Further information i§ contained in our circular which may be had upon request. it Light Pl o L4 % () . 2 > 882 ~ - INCORPORATED til P& Lt Cor A 23 23 BSTABLISWED 1 INVESTMENT BONDS mranas 2, £ 2 : : : Dillon, Read & Co. s T 15T T NATIONAL METROPOLITAN BANK BUILDING ; B s : %o ; s AT A WASHINGTON, D. C. s Hayden, Stone & Co. Dominick & Dominick il s an @ ki o New York Empire Co., Inc. C. D. Barney & Co. Wi A'u{':‘?é He B ¥ 4 l’l'HOUjr LOSS TO ANY lNVEST(’)R Hemphill, Noyes & Co. Tucker, Anthony & Co. ormevcaomm o B Manufacturers Trust Company - Laird, Bissell & Meeds x % v statements herein have - Mbyu-m“mhuwflhhufimdnmumw-. W hoca o i doaman EYNN=Ir=t 424 22 10 Diside Exteasion. .. 02 13 Kz Gold Mo Li'l 35