Evening Star Newspaper, September 17, 1925, Page 29

- APPLE CROP POOR . INNEARBY STATES Yield of 19,489,000 Bushels, { Against 31,200,000 Last + Year, Is Now Forecast. ®pecial Dispateh to The Star. BALTIMORE, September 17.— \Maryland, Virginia, West Virginia &nd Pennsylvania orchards, taken as a Whole, have a prospect this year of a total apple crop equal to 19,489,000 bushels, which compares with 31,200,000 harvested last year, and 27,311,000 bushels—the five-year average (1920 1924) of harvests in the four States— according to John S. Dennee, Federal &gricultural statistician for Maryland. Virginia’s output this season will be Jess than half what it was last vear. to into consuming lot of States will against 4,354, ©00 last vear, about 27 per cent B &nd 16 per cent less than the five-year {@verage, says the statistician, ' The season has been unfavorable %o apples. Growing conditions, as re- ported, range from 10 to 22 per cent elow the 10-year average of condition on September 1. Maryland will have about 1,626,000 bushels, an average crop. Last year 1,749,000 bushels were harvested. About 282,000 barrels are expected to make the commercial crop. . 254,000 barrels were used commer- cially: and the five-vear average (1920- 1924) is 283,000 barrels. SWEET POTATO CROP SEVERELY CURTAILED Becond Smallest Yield Since 1918 Predicted—Long Drought Main Cause. The sweet potato crop has fared bad- 9y this season. Continued drought throughout the South has diminished the prospective Yield for the country as a whole to 74.5 bushels per acre, which would be the FINANCIAL. Shubert Theater Company. Makes Initial Report By the Associated Press. NEW YORK, September 17.—In its first annua’ statement of earnings the Shubert Theater Corporation, or- ganized in June, 1924, reports net in- come of $1,075,831 after all expenses for the year ended June 30, equal to $7.02 a share on the 160,000 shares of stock outstanding. Total assets were placed at $14,500,000 and net assets 36,118,415, e CRUDE OIL OUTPUT DROPS DURING WEEK Decrease of 5,800 Barrels Is Re- ported by American Petroleum Institute, By the Associated Press. NEW YORK, September 17.—The daily average gross crude oil produc- tion in the United States decreased 5,800 barrels for the week ended Sep- tember 12, totaling 2,133,050 barrels, according to the weekly summary of the American Petroleum Institute. The| daily average production of Smack- over, Ark., heavy oil field decreased 5,500 barrels. duction in the United States, exclud- ing Smackover heavy, decreased 300 barrels. The daily average production | |f east of California was 1,463,650 barrels, a decrease of 2,300. e POULTRY UNSETTLED. CHICAGO, September 17 (#).—Poul- try—Alive, unsettled; receipts, 7 cars; fowls, 19a25; springs, 241s; rooste , 207 ducks, 20a22; geese, 15. Particularly Appeal- ing to Small Investors Jowest vield on record. The prospect 1s for less than 4,000,000 bushels above 1924's very short crop, and the sec ond smallest crop since 1916. Indications on September 1, accord- ing to information received by the United States Department of Agricul- ! ture from sundry and reliable sources, pointed to a total crop of 75,551,000 «bushels, 5 per cent above last year's production, and 22 per cent less than the five-year average of production 19201924, CHICAGO HOUSEHOLDERS BUY MUCH LESS COAL Special Dispatch to The Star. CHICAGO, September 17.—House- holders are buying a smaller amount of early coal this year than at any time in 10 vears, local dealers say. Despite the threat of a shortage, it is estimated that 500,000 fewer tons have been delivered up to the present time than a year ago. BOSTON, September 17.—The Mas- #achusetts Fuel Emergency Commis- sion expects soon to issue an order limiting anthracite deliveries to not more than three tons at a time. .CITIES SERVI'CE GROSS UP T0 $18,688,415 NEW YORK, September 17 (®).— Gross earnings of Cities Service Co. for the year ended August 31 in- creased to $18,688,415, compared with $17,147,441 the vear before. Net earn- ings applicable to stock and reserves emounted to $15,807,199, which is 3.08 times the preferred stock dividends, against $14,400,277, or 2.84 times the preferred dividends. Net for the com- mon was $10,648,109, equivalent to $2.86 & share. DEMAND FOR LABOR GROWS IN BALTIMORE Specia] Dispatch to The Star., BALTIMORE, September 17.—Em- ployment in Baltimore is better than normal, with demand increasing daily, it is reported. Compared with six months ago the situation has shown marked improve- ment, it is rted, and although dur- ing the la:t months there may have been a “letting up” in certain lines, other ches have quickly ‘absorbed the s T ST i) BUYS GASOLINE CARS. #South Australia Railway Sends Order to United States. NEW YORK, September 17 (#).—An order for 25 gasoline rail cars has been [———olc———lcl———o|————a|———|0] placed by the South Australia Rail-| waye with J. G. Brill Co. The cars are designed for stea ads on which passenger trafiic Orders for more than 60 of these cars have been yeceived from domestic and foreign railroads. The company also has de- signed a gas-electric car for passenger transportation, several of which have been ordered by various Eastern roads. —_— ‘What Experts Buy. Trained investors always buy se- curities that have a substantial loan value. One of tha -wrest methods of determining the - .ue of any stock 1s to seek a loan on it. If your banker It isn't often that “small money" can participate in a 7% Investment But this particular issue of First Mortgage ~Notes—backed 3s _they @ by Northwest residential realty o safest and soundest invest- ment possible—can _be bo in amounts as low as $250. or of our Lean . : SR Ive ‘;m all the Department, "will details. Mcxzm-aooi M R Main 4§ in‘fl‘ufilnlm B P iy 1 B8 T8 11 Aalldn, Organized in 1814. Such is the Competition —of present-day com- mercial life that the business man must usu- ally focus his time and energy on one field of endeavor to win out. {{Under such conditions it becomes vitally im- portant that access be had to banking facilities of the highest order. fMetropolitan service leaves nothing to be desired—and is freely at the disposal of any business man who wants to grow. National zMetropolitan 111 B k \11‘. Yea [ cars &'&5 an Old Capital, Surplus & Undivided Profits, Over $1,800,000.00 | e——cje————cle———jalc——— a|lc———c] 15th St. opp. U. S. Treasury [o]c——)|—— ydeclines to consider it as collateral You can rest assured its markatability does not amount to much. o e DIVIDEND INCREASED. NEW YORK, September 17 (#).— The Shawinigan Water and Power Co., Canada, has increased its divi- dend from 7 per cent to 8 per cent, with declaration of quarterly disburse- *ment of 2 per cent, payable October 10, to holders of record September 23. Stockholders also have been given the right to subscribe to new stock on the basis of one new share for each 20 held, the privilege expiring October 14. Applications Invited on Real Estate Loans lmprovec‘lm Property 1st and 2nd Trusts and Construction Loans N. L. SANSBURY CO. Inc. 1418 1St. NW. Main 5904 FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street Every Payment Earns 7% OUR Investment Savings Plan gives you the oppartunity to buy 7% First Mortgage Bonds, in $100, $500 or $1,000 denomi- nations, by payments extended Thus, if your savings average $10, $20, $50 or more a month, they may be invested immedi- ately at the full rate of bond interest. You are not required to make regular monthly payments if it is more convenient for you to pay at irregular intervals. Send your name and address on this advertisement for our two booklets, telling the facts about 7% Smith Bonds and i our Investment Savings Plan, No Lou to Any Investor in 52 Yeers The F. H.Smith Co. Founded 1873 815 Fifteenth Street--Main 6464 New York Washington, D. C. Pituburgh Philadelphla Minncapolis The daily average pro- | 1 BUS LINE EXPANSION ASKED IN MARYLAND Specia] Dispatch to The Star. BALTIMORE, Beptember 17.—The Pennsylvania and Maryland nsit Co. has asked the publie nmmom mission for permission to run bus lines between Baltimore, Wilmington and Philadelphia, Lancaster and Read- ing. The company several days ago obtained permits for a line to Harrls- burg. The Philadelphia busses would make seven round trips a day, and those to Reading three. The fare to Philadel- phia would be $3.50 and the same to Reading. The permits are expected to be granted for interstate business only. Money to Loan 4 Secured first ot st on estate. Joscoh L Weler Shov5k FF e First Mortgage Notes For Sale slno,' $250, $500, $1,000 AND UP N] 617 Interest Secured on D. C. Real Estate Wm. H. Saunders Co., Inc. Established 1887 1433 K St. N.W, PERID L hose Humility is a virtue only in be ! who have little cas humbl NEVER PERMIT YOUR DOLLARS TO BE IDLE! The only dolfars worth while to you are DOLLARS AT WORK. You can give yours most profitable employment in FIRST MORTGAGE 6',%, NOTES It means absolute safety of principal and larger earning power than in any other conservative investment. We relieve you of all detalls. Consult Our Mortgage Investment Dept. [SHANNGN & LUCHY 713 and 715 14th St. N.W. Main 2345 —on improved income-produc- ing property in Washington and suburbs are offered by us to in- vestors. In every instance titles have have been investigated and are guaranteed, adequate insurance protection is provided and the appraisal is conservative. Quarter of a Century Without a Loss Safety is our first considera- tion in the investments of funds —and our clients profit by it. L F. SAUL CO. 925 15th St. N.W. B. Main 2100 “What shall I'do?”’ Buy, sell or hold? . . . The greatest bull market in thirty years! Each day sees marked advances. Stocks and bonds have climbed to new high levels. Where and when are they going to stop? [4 14 v Perhaps history will repeat itself. If it does, there will likely be a violent decline. Profits may be wiped out overnight. How can the careful speculator as well as the conservative investor turn present market conditions to advantagé and at the same time protect investments from possible loss? What should be done? Let the Miller Analytical Department answer yaur question A booklet prepared by the Miller Ana- lytical Departmentshows you how to make agood profit in this market and strengthen your investment position. . . . “Buy, Sell or Hold?” is the name of this interesting, free booklet which con- tains views and advice of leading authorities on market and business conditions. Send for it today. Now is the best time to clip this cou- pon. It will not obli- gate you in any way. G. L, MILLER & COMPANY, Inc. b ! H 30 Easr 428D SaEer, N3w Yorx Crry i Please send me your free booklet, “Buy, Sell or Hold?” —a review of present market conditions by prominent REAL ESTATE LOANS 5% st Rl ousEs | ROPER’ RESIDENCE LOANS AT LOW RATE FRED T. NESBIT v WANTED! | Gmm)ufigs;‘ ngh ghase of all o i mdnd 8 875 B Washington Investment and Transactions Co. 715 14th 8t. N.W. WMaln 2863 For Investors 7% First Mortgage Notes Denominations of $100 and Up— All Details Given Prompt Attention See Mr. O’Donnell, Mgr. Mortgage Department | L 14th & K Read Between the Lines WHEN you read a newspaper can you read “between the lines ?” the lines of this simple, ment: Then read between straightforward state- Swartzell, Rheem & Hensey Company sells only sound, conservative First Mortgage Notes on improved Wash- ington properties. The yield is 6% % per afnum. Interest checks are mailed semi-annually on the day they are due. suffered loss in 56 Don’t you think that Not one of our investors has years. there is something be- tween these lines especially applicable to your financial :-advancement? EEM 6HENSEY CO. shi C 56 Years Without Loss to An Investor The Bell Telephon Main 9080 FINANCIATL., FOR INVESTORS MORTGAGE NOTES IN CONVENIENT DENOMINATIONS ON IMPROVED PROPERTY in DISTRICT & COLUMBIA H. L. RUST COMPANY 912 15th Street The New York Life Insurance Company Offers so Make First Mortgage Loans on Improved Real Estate In the District of Columbia and Suburbs for 3, 5 or 10 Year Periods Heuses Apartments © e ON APPROVED SECURITY Apply : BRANDALL H. HAGNER & GOMPANY | MORTGAGE LoAN GORRESPONDENT $50,000,000 e Company of Pennsylvania First and Refunding Mortgage 5% Gold Bonds, Series C Dated October 1, 1925 ; Due October 1, 1960 NOT REDEEMABLE BEFORE 1957 Interest payable April 1 and October 1 in New York City without deduction for the Pennsylvania four-mills tax. Coupon Bonds in denominations of 51,000, 3500 and $100, registerable as to principal s denominations -!":“I’,O‘“,'“.m and $10,000. Coupen Bonds end registered Bo he several deno Registered Bonds in nds, ions, interchangeabls. Redeemabls, at the option of the Company, in whole but not in part, upon 60 days’ notice, on Octeber 1, 1957, or on any interest date thereafter, at 100% and acorued interest. BANKERS TRUST COMPANY, NEW YORK, Trustes L. H. Kinnard, Esq., President of the Company, has summarized as follows his letter to us stating the particulars in regard to this issue: PROPERTY The Bell Telephone Company of Pennsylvania, with its subsidiary and connecting companies, pi the Company’s real value, wes u.;r $138,000,000 on June 30, 1935. e $95,739,500. telephone service throughout the entire State of Pennsylvania. The book cost of estate, buildings and telephone plant, which is consideradly less than their present Other assets amounted to about $30,000,000. lact to this financing, total assets will be over $346,000,000, in comperison with a total bonded debt of After giving sEcuRiTY The First and Refunding Mortgage covers as & first !ien the entire physical 'pn'an' of the Compeny in Pennsylognia, subject only to closed mortgages on portions of such Pproperty securing bonds new outstanding in the amount of $10,739,500. ronrosE The OF ISSUE BARNINGS Year Ended December 31 Revenues fe for t s be used phone and Telegraph Net Earnings Available for Interest $8,189,426 8,372,205 8,215,740 9,788,375 6,067,420 Gross roceeds of the Series C Bonds, to the extent of about $18,000,000, will be used to extension and improvement of the Company’s telephone system. The belance to repay advances previously made for similar pur Company, which owns all of the Company’'s outstandi ulfl es by the American Tele- g common stock. Interest Charges . $2,320,521 2,396,767 2,942,069 - 3,267,260 1,840,099 Net Incoms $5,868,905 6,075,438 5,273,671 6,521,115 4,221,321 3.30 this period of four and one-half pears, net earnings aveilable for interest have averaged over During T o, i 1420, wer during thet period. debt, and the ba As The net earnings available for interest for the first six months of 1925, amount- o&u‘nkut to 3.30 times the interest requirements on the total debt outstanding the greqter part of the proceeds lance invested in revenue-producing t of this issue will be applied to the retirement of 6% hone plant, it is ?fl!‘d that the present ratio of esrnings te interest charges will be impraved by the issue of these Series C Bonds. EQUITY The Company has outstanding $80,000, common stock, on which the current dluld;n': rete is 8% per annum, and approximately $20,000,000 61, % cumulative preferred stock. latter is held by more than 60,000 stockholders, of whom 98% reside in Pennsyloenia. THE 4BOVE BONDS ARE OFFERED FOR SUBSCRIPTIOXN, SUBJECT TO DUE 4UTHORIZATION, TO ISSUE 48 PLANNED AXD TO 4PPROVAL OF LEG4LITY BY COUNSEL, AT 100% 4AND INTEREST Subsoription books will be opened at the office of J. P. Morgan & Co., September 17, 1985 and will be olosed in their discretion. ap, ond also, in any case, to award a smaller amount than applied for. on allotments will be payable at the o the date of payment .(on or about Octo at 10 o'clock 4. M., Thursday, The right is reserved to reject any and all The amounts due ce of J. P. ,Horgau & Co., in New York funds to their order, and er 1, 1925) will e stated in the notices of allotment. Temporary -Bonds or Interim Receipts, exohangeable for definitive Bonds when received from the Company, will be delivered. J. P. MORGAN & CO. All of the above bonds have been subscribed for, This advertisement appears KURBN, LOEB & CO. KIDDER, PEABODY & CO. FIRST NATIONAL BANK, New York BANKERS TRUST COMPANY, New York. HARRIS, FORBES & CO. ' Dated September 17, 1925, THE NATIONAL CITY COMPANY, New York GUARANTY COMPANY OF NEW YORK LEE, HIGGINSON & CO. oniy as @ mdtter of record.