Evening Star Newspaper, June 2, 1925, Page 29

THE EVENING STAR, WABHINGTON, D. C, TUESDAY, JUNE 2, 1925. FINANCIAL. ae———]a[c———iu WANTED Second Trust Notes This company has funds available for the purchase of all kinds of second trust notes, secured on real estate in or close to D.C Prompt Service ‘ ElWashington Investment! Transat.:.fi;ns Co. 713-15 14th St. N.W, Maln 3662 ===t ——=0n Money to Loan Mmflylg‘r‘l\‘:‘t:dr‘uul-l"?l:non real estate. mmission. Joseph 1. Weller Quick, Courteous Action Mg e fen o8 Job gad ad 3 rze Money {A-u.d ""Pim‘-':llnl and Corperate District Loan Procurement Company 219-223 Kellogg Bldg. 1422 F SLN.W. el. FIRST MORTGAGES FOR SALE * Denominations of $250, $500, $759, $1,000 and upwards COMMODITY NEWS PUSH DRIVE TOEND | | cmuopiey e, fisheries department is determined to re-establish, the shad fishing industry on the Georgia coast. Government co-operation has been assured. The catch of the Atlantic States has been reduced from 50,000,000 pounds in 1890 to around 14,000,000 pounds. Capital_and _Surplus $2,000,000.00 WHAT IS CAPITAL? fCapital is simply that portion of the product of labor which is set aside for the production of more wealth. By _depositing part of your earnings in bank regularly you become a capitalist, so to speak, and accumulate addi- tional wealth from the product of your labor. Deposite invited in any amount— ame Rate of interest paid on large and small accounts. 1 Savings & Trust Co. Depository in Washington .nJ New York Ave. 420 Wash. L. & T Blds., 9th & F N.W. REAL ESTATE LOANS FRED T. NESBIT INVESTMENT BLDG. Main 9392 Main 8070 515 First Mortg‘age Loans o Washington Real Estate We always have on hand an adequate supply of money to loan at lowest rates of interest; and we are now loaning our money at 5% %. o o | E. Quincy Smith, Inc. [ 909 15th St. | Telephone Main 9057 =] g Manufacturers Anxious to Even Up Production During 0ff-Season Periods. FORT WORTH, June 2.—What is believed to be the first wheat har- vested in north Texas this season was cut this week, and yielded about 25 bushels to the acre. BY J. C. ROYLE. Wpecial Dispatch to The Star. 2 YORK. June 2.—Scores of panufacturers throughout the coun- - have gone into the laundry bust ness, although they may not know it. At least they are engaged in ironini out the peaks and vallevs of the bus ness curve and wiping out to some ex tent the economic wastes which con- front practically every industrial con- WANTED - a man who can write letters that sell bonds A man with a successful record as a sales correspondent, and preferably with some knowledge of investment banking, is re- quired by a Washington bond house. You may give full particulars with the as- surance that your letter will be held in strict confidence. SAN ANTONIO, June 2.—Water- melon growers are moving their fruit to market briskly and this year will not come into competition with the lerop from the Southeastern States, | which tended in 1924 to bring prices |to an unprofitable level. . ATLANTA, June truck growers now are shipping to-|= rn matoes in car lots. The crop will be Manufacturers and others are find-|larger than In 1924 and prices are that the spu and stops of |petter South Georgia Oldest Savings Cor 15th TULSA, June 2.—The Marland Oil Co. is planning to increase its refining city by doubling the size of the ciose co-operation between sales an f\: oduction departments. With esta ished businesses it has been found ty refinery, which now has that the volun of orders does not }H capacity of 15,000 barrels daily. Mid- vary exceptionally from one ye: Continent Crud; expected here to $70 a year the next. The fluctuations in s ladvance in price soon. —_— on $1,000 A Word to Specaul If you must speculate, The New York Life Insurance Company eculation on the part of middle. Offers to Make oF men and retailers. OU can obtain this return on a $1,000 Smith Bond, or a proportionate returnon the small- er denominations of $500 and Address Box 335-V, Star Office Would Even Up Business. In the building trades th fas been met to a very co in a recognized stock exchange. | change requirements, in themselves, are some protection, as its members First Mortgage Loans extent by Winter building. The addi ional 4 to 5 per cent which is expend- protection for work and work- men from the weather h. been more than equalized by the ir ciency of the workers, fous to hold their off-s: by the fact that ample labor is avail &ble and bonuses and overtime unnec- must comply with business ethics as provided by rules and regulations. I° a member violates these rules, he hazards his membership, which s/ usually his greatest asset. Esthonia dalry and poultry produc- | tions are growing rapidly, and butter —on First Mortgages on improved property in Washington. Cur- $100, with the proven safety evidenced by our record of no loss to any investor in 52 years. ‘These 7% First Mortgage Bonds are strongly secured by improved, income-producing city property, and, through serial maturies, the margin of security for investors Two Facts" : —stand out with special prominence in on Improved Real Estate In the District of Columbia and Suburbs for 3, 5 or 10 Year Periods and eggs are being shipped to many arts of th FEDERAL AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President Apartments Office Buildings Houses Business Properties SY%% ON APPROVED SECURITY Apply z ERANDALL H. HAGNER & GOMPANY . MORTGAGE LoaN GORRESPONDENT - oNo132/ Gommecticiut Hoerue: your consideration of Wardman First mortgage Notes—their inherent safety of principal and their generous 615, % interest return. You may procure them in amounts of $100 to $100,000 with convenient maturities. WARDMAN Constructio pany 430 Ksteet NS Main 3850 ‘“We House One-Tenth of Washington's Population” is constantly being increased. You may invest for any period from 2 to 15 years. No deposit is required on bonds reserved now for July delivery. Mail the coupon for descriptive circulars. The F. H. Smith Co. Founded 1873 Ne Loss to Any Investor in 52 Years Smith Building, 815 Fifteenth 8t. rent rates. Prompt asranaarate nate the amount 3 t to sell in the required to stand by their to dispose of that quantity for delivery in a steady flow through- out the twelvemonth. The production side of the business estimated £ service. HANNOI 713 & 715 14th St. NW. the entire ye: enough carried to meet the quota re- quirements. Steady Work Possible. am Cooper Pro r & Gamble, turers, says that such a made guarantee to workers at weeks’ work a yvear, less on by reason of le THE F.H. SMITH COMPANY 1 8mith Building, Washington, D. C. Please send descriptions of your t offerings of 7% First Mortgage S ETETATEIN TS (R TNIRRNEATNARTANRY. pre-eminence — consti- tute the valuable se- curity, $2 worth of which protects every dollar of First Mortgage Notes issued by this organization. saving has been through operation of this policy is something which cannot easily be figured. One thing is plain, it has brought us increased anpnual of many hundreds of thousands of dollars. The saving which comes in addition, thro ing a steady force of seasoned, ed and employes, cannot be ascertained.” The decisions of the Supreme Court Monday laring legal the gathering | and diss ation of information re: transportation and pro- ociations will e a decided effect in enablin, ufacturers to maintain stead; New Method Popular. The operations of the so-called hand- | to-mouth buying by retailers is finally PROPERTIES you know—new homes in Northwest residential districts of recognized $45,000,000 Government of the Argentine Nation EXTERNAL SINKING FUND 6% GOLD BONDS ISSUE OF JUNE 1, 1925 BOSS B PHELPS HOME OF HOMES 1417 K Street Main 9300 a blessing in [disguise. The volume of business is maintained in nearly every industry although it comes in different form It enables manufacturers to operate steadily. instead of splitting the year into dull and nigh-pressure periods, and cuts down the amount of mone; tied up in raw materials and complet- ed goods. For example, one Oregon | woolen mill this week sold $18,000 worth of goods in one day in lots which averaged $7¢ to the ord Dated June 1, 1925 Due June 1, 1959 Interest payable June I and December I Redeemable through the operation of a cumulative Sinking Fund of 1%, per annum, calculated to be sufficient to retire the Bonds of this issue not later than June 1, 1959. Coupon Bonds in denominations of $1,000 and $500, registerable as to principal only. Property Management s Principal and interest payable in United States gold coin of the present standard of weight and fineness, in New York City at the offices either of J. P. Morgan & Co. or of The National City Bank of New York, Fiscal dgents for the Bonds of the Issue of June 1, 1925, without deduction for any Argentine taxes, present or future. TR R PROFESSION that requires years of ex- l Continental Trust Company perience, a knowledge of people and places and an exercise of tact. Capital One Million Dollars 14th & H Streets The following statement (in which all figures originally stated in Ardentine currency have been converted tnto United States dollars at par of exchange for the gold peso or paper peso, as the case may be) has been outhorized by Felipe 4. Espil, Esq., Charge d'dffaires of the Government of the drgentine Nation at Thirty-two years’ experience coming in contact Washington, D. C. with all phases of this business specializing in the E HOME OWNERS Can Secure | ; LOAN s IR OBLIGATION These Bonds are to be direct external obligations of the Argentine Government. The Government will covenant that if, while any of these Bonds remain outstanding, it shall create or issue or guarantee in accordance with the Argentine Constitution, any loan or bonds secured by lien on any of its revenues or assets, the Bonds of this issue shall be secured equally and ratably with such other loan or bonds or such guaranty. PURPOSE The Argentine Government has outstanding $35,000,000 of dollar Treasury Notes payable during the current year. Of such Notes, $20,000,000 were iscued in anticipation of the sale of these Bonds and will be retired by the proceeds thereof, the remaining $15,000,000 being dealt with under other powers of the Finance Minis- try. The proceeds of the issue in excess of the amount required to retire the $20,990,000 maturing notes will be used to repay floating debt of the Argentine Government as provided for by Laws 11206 and 11207 which govern this issue. SINKING FUND The Government will covenant to pay to the Fiscal Agents as a Sinking Fund, beginning December 1, 1925, and thereafter semi-annually on June I and December 1, in each year, an amount equal to one- half of 1% of the maximum principal amount of Bonds of the Issue of June 1, 1925 at any time theretofore issued plus en amount equal to the accrued and unpaid interest on all Bonds previously acquired through the operation of the Sink- ing Fund. Such Sinking Fund payments (which may be increased by the Executive Power il considered advisable) are to be applied to the purchase of Bonds below par through tenders, or, if not so obtainable, to the redemption of Bonds, called by lot, at par. The total debt of the Argentine Government as of December 31, 1924, amounted to about $935,000,000, or the equivalent of about $93.50 per capita, as compared with the natiorial wealth, according to the census of 1914 (the latest official figures), of $14,543,000,000, or more than $1,450 per capita. Government owned properties (including revenue producing investments of $530,000,000) had a total value in 1914, according to the same census, of $1,125,000,000, or about $200,000,000 more than the total government debt now outstanding. GOLD RESERVE A gold reserve of $463,000,000 is held against the note circulation (equivalent to $588,900,000), resulting in a reserve ratio of over 78%. Argentina has an area considerably greater than that part of the United States east of the Mississippi River, and has an estimated population of 10,000,000 persons. Agriculture and live-stock raising are the principal occupat ions of the country, which is one of the world’s chief exporters of cereals, meat, hides, wool and linseed. The foreign trade of Argentina is greater than that of any other Latin American country. During the past few years its purchases from the United States have been larger than the combined purchases of the three next largest South American customers of the United States. The Argentine’s merchandise exports in 1924 were valued at $976,000,000, its imports at $800,000,000, resulting in a favorable trade balance of over $176,000,000. The improving Argentine trade balance during the past eighteen months, has resulted in a steady rise in value of the Argentine paper peso, which is now quoted in New York at about 95%, of par. Measures have recently been taken to prepare the way for a complete restoration of the gold standard which existed in the Argentine prior to 1914. Application is to be made-to list the above Bonds on the New York Stock Exchange. MANAGEMENT OF APARTMENT HOUSES —enables us to render owners an efficient service. Personal service and individual attention is given to the business of our clients. B. F. SAUL CO. 925 15th St. N.W, We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of interest. Should you have Money to Invest —we can also take care of you. Our experience, ex- tending over a period of Thirty-Five Years —linsures your protection. Russell Co. 926 15th St. N\W. Main 2100 GOVERNMENT DEBT AND ASSETS GENERAL It is constantly upward, sand shows that five years ago 25% of Miller Bonds were bought by old customers of the Miller House. Today it shows 65% of Miller Bonds are bought by old customers of the Miller House. ‘This line tells briefly and unmistakably the satisfaction that comes with owning Miller Bonds. Write for Booklet 7222 which describes Miller Bonds paying up to 79, interest. G.LMILLER &.CO. Local Address—308 Phillips Bldg., Washington, D. C. " T TS DU o R0 NO-INVESTOR-EVER-LOST-A-DOLLAR IN MILLER wsireies BOND District of Columbia 5 mills tax refunded THE 4BOVE BONDS ARE OFFERED FOR SUBSCRIPTIOX, SUBJECT TO THE CONDITIONS STATED ¢ BELOW, 4T 96% 4ND 4CCRUED INTEREST, TO YIELD OVER 6.259, TO MATURITY. & Subscription books will be opened at the offices of J. P. Morgan & Co. at 10 o’clock A. M., Tuesday, June 2, 1925, and will be closed in their discretion. The right is reserved to reject any and all applications, and also, in any case, to award a smaller amount than applied for. AU subscriptions will be received subject to the issue and delivery to us of the Bonds as planned. The amounts due on allotments will be payable at the office of J. P. Morgan & Co., in New York funds to their order, and the date of payment (on or about June 16, 1925) will be stated in the notices of allotment. Tem~ porary Bonds, exchangeable for definitive Bonds when prepared, are to be delivered. Bond recommendations backed by National Gity judgment and experience. Our June circular lists a wide choice of issues. Ask for your copy J. P. MORGAN & CO. . THE NATIONAL CITY COMPANY Ne The National City Company WuhinflonN—‘;Al 15th St. New York, June 2, 1925. (As all of these bonds have been sold, thia adv ertisement appears only as a matter of vecord) Telephone—Main 3176