Evening Star Newspaper, January 6, 1926, Page 23

FINANCIAL. THE EVENING. STAR, W \\lll\‘”l“v D, . WEDNESDAY, JANUARY 6, 1926, FINANCIAL. 23 3 N E Lo Ak Tr 2 g 7 : T FREIGHT RATE WAR i"“”"r"bm’iiii .'.fi,. ",.'( *I.n| o Flrst M:::gfée Loans| Gl/n/ and 79, ' " First Mortgage Notes “~REAL ESTATE LOANS e Bl e 3 IR X A Cormpert] e {Firat: Mortgags .Notes | THuoé“Efl.nEL _ A{,figmm :m;{;r The New ’"55" sz;: {n.surance Co.» g “* 738 15th Street - 4 ANS AT LOW RATES < Fap ers to F[]SS‘B‘_E |N DH‘U First Mortgage Notes e KR ¢ 20 ) W 'l'.lNKlNS ‘;"“.:: ;":“1‘,",“,7," Real FREb T. NESBIT rs ke . For Sale In Denominations of 5100 $250, $500, $1,000 1733 De Sales, St. l INVESTMENT BLDG. Main 9392 RSfablsheRRTING. o b T ' First Mortgage ‘Loans On Improved Real Estate in the District of Columbia and FEDERAL-AMERICAN Lower Charges on Pig Iron;’ May Lead to Reductions'on | 63 i\r:t‘;rest NATIONAL BANK |, Nearby Maryland Suburbs for 3, 5 or 10 Year Periods. Other Commotities. (| dosle e o oe” || RESOURCES, ' $14,090.000 Houses 5]/ 7 Porrym '} Wm. H. Sarnders Co., I . 1315 F ‘Street Basiness Propectics Office Buildings | "“""""""Cr‘s"'"o o JOHN POOLE, President Y Guaranty TNSt Company I i 2 O p 1433 K Street N.W. ON APPROVED SECURITY Apply RANDALL H. HAGNER & GOMPANY of New York . 140 Broadway Over a Oudrter of @ Century’s Experience » ) : G - - Aparlmt'nl House MoORTGAGE LoaN CORRESPONDENT > - : i LONDON |, PARIS BRUSSELS LIVERPOOL = HAVRE - ANTWERP . 1321 Connecticut Avenue Telephone Main 9706 management Jis a field swe - |l : e have developed during more | 2 B than a quarter.of a century.of i Condensed Statement, December 31, 1925 reatal property superviston | . ¢ Give us the responsibility” of R finding tenants. collecting ) 3 % s o we Ao . RESOURCES A High Interest Rate et profits from your \plrl ' C o 3 e nh on Hand, in Federal Reserve Bank mengHlouse; i and Due from Banks and Bankers. ............ $162,995,748.94 Wlth S(lfet Y s | l ' U. S. Government Bonds and Cerhflcu!u 34,980,695.39 > B. F-SAUL O Ml o et e i AmATIES K g o b s Yt e . . . Other Securities vevee.. 21,593,855.71 guarded. offer the highest interest rate that can be. ; o caie . Loags and Bills Purchned 482.279.794.05 combined with the greatest assurance of protection. Real Estate Bonds and Monngefl. 1,565,650.00 " These mortgages are secured by the land itseli=— | Items in Transit with Foreign Branches . 5,548,257.48 foundation :;v’ all wealth, and, in addition. the double Credits Granted on Acceptances... 40,263,426.45 security of the improvements and earnings HARDWARE SALES EXTRA | Real Eotatay: cotifa i iy 7,980,92‘6.04‘ First mortgage real estate notes were the first form GOOD AT END OF YEAR| e Aciritad lnfereat and Accounts Receivable 6,637,400.72 Sisal-inie tnentandineiengeguEn hatlic oldcs oy Snecial Dispateh to The Star DlVldendS are ety i * > centiries first mortgages on real estate have been pre- NEW YORK, January 6. - Hard- | =4 $679,607,926.51 ferred by the most conservative investors, 2 i always paid R e 1 r promptly— LIABILITIES 6 /2 % a When you own good First Mort- (M1}~ Capital....... - $25,000.000.00 has also been n many of the | 1 demand for ! i | is every indication that pre- | schedules, particularly those by iron and steel. will ad- | Surplus Fund .’ Undivided Profits. ... 15,000,000.00 6,884,933.20 $46,884,933.80 gage Notes, doubly secured on se- lected Washington ‘real estate, you never receive notices that “this vear the directors have adecided it will be necessary to pass the uenal well ‘maintai ad e are amply market centers pre prepared to v yonur JANU AR) INVESTMENTS of interest nmpm\ inc der Maryland laws, w 1 by the Public Serv o acquire the ca companies nin apanies are Main 2345 GolleoHons itre o s Tndicatie (UM dividend payments, ete.” You re- Bills Payable 5,000,000.00 Call For Information : of rally healthy business condi ccive the full 6127 with safety and ‘Accrued Interest, Renerve for Taxes, etc. 6,046,070.19 VIORTGAGE INVESTMENT DEPARTMENT 3 | certainty! . Acceptances_ 40,263,426.45 GAS AND POWER CONCERN Convenienl Amdwunts o/ Outstanding Treasurer's Checks 34,055,743.55 'SHAN’NON 3 & LUCH BUYS THREE MORE FIRMS e b St Ll b L —— e O Sneciat k\"'i'(" - Ir.:,' ;:?““ . W“ “ B SS D PH LPS —— 713, 715 and 717 14th Street N.W. orpor 1 e HOME OF HOres “ommis stock of 1417 I Street ing, in! REALTORS Main 9300 This Stock has been sold. e G Write for illwstrated booklct i January 5, 1926 1,100,000 Shares The National Cash Register Company (MARYLAND) Common A Stock CAPITALIZATION Autharized and to be presently issued) Common A Stock (no par value: . Common B Stock (ne par value = < —= Dollars Invested in WE PAY MORE INTEREST Business Properties ON SAVINGS ACCOUNTS . Than Any Other National Bank in Washington Inferest on DATLY Balances Come in and let us explain Commercial Nat'l Bank 11th and G Streets Resources $17,000,000 1,100,000 shares 400,000 shares The Common A Stock is entitled to preferential cumulative dividends of $3 per share per annum, payable January 15, Apr.l 15, July 15 and Octobet 15, before any dividend on the Common B Stock. Subjeet to this prior right, the Common B Stock is entitled to non-cumulative dividends of $3 per share in any year. Both classes of stock participaté equally share for share in additional dividends in any vear. The Common A and Common B Stocks participate equally share for share in distribution of assets in liquidation. The Common A and Common B Stocks Have equal voting rights except that the Common B Stock has the right to elect a majority of the directors and the Common A Stock.the remainder, unless at the time of election the company is in defauli with respect to two quarterly dividends on the Common A Stock, or with respect to earnings, as provided in the charter, in each of which cases the Common A and Common B Stocks vote equal'y share for share in the election of directors. Central Union Trust Company of New York, Transfer Agent. The National Park Bank of New York, Registrar. A Business Property may be valuable and still not be a, N good buy. : : | l"' GOLDEN DONALDSON. PRESIDENT e MONEY TO LOAN on District of Columbia and N Maryland real estate. From His letter to us, Mr. Frederick B. Patterson, President of the company, summarizes as follows: BUSINESS The National Csuh Reguter Company has been organized under the laws of Maryland to acquire the entire assets and business of The National Cash Register Company (an Ohio corporation), established in 1882 and to-day the largest manufacturer of cash registers in the world: The business has grown from an original investment of about $10,000 to its present size through reinvestment of earnings, with the ex- ception of %ppronmatel) $1,500,000 received prior fo 1900 from the sale of stock. We are advised by counsel that certain legal proceedings, Let us estimate values, con- sidering future developmeéents quges & Middletonhe REALTORS Prevailine interest rat N .. delays. min ; l pending and threatened, against that company will not seriously affect the adsets or business. Sales agencies are maintained in every state of the il deed of ur 1412. Eye St.NW. ‘ank Ul9503 . United States and, directly or through subsidiaries, throughout most of the world. In the United States there are more thar 230 sales agencies o % | with over 1,400 sales representatives. The domestic and foreign organizations include more than 10,000 people. The principal plant at Gardmer & Dent ! Dayton, Ohio, consists of 23 buildings; with a total floor space of 6ver 44 acres, and is considered a model industrial plant. The manufacture of A Ine e = Tt e several hundred sizes and types of cash registers meets the varied demands of practically all lines of business. é 1409 L Street N.W. S 3 MANAGEMENT AND CONTROL N Main 1881, N The m-nngement will be in the hands of the men who have successfully conducted the business. Mr. Frederick B. Patterson, the son of the late Wzzzz77777777 7777 TR | CONFIDENCE IN MITH BONDS Mr. John H. Patterson, the founder of the business, will be President, and will own a majority of the Common B Stock. 2 EARNINGS Earnings of The National Cash Register Company (Ohio), ascertified by Messrs. Price, Waterhouse & Co., adjusted to include the earnings -of ;foreign subsidiary ' companies, as taken from the companies’ financial returns, shown both after deduction of employees’ profit- sharin, .rfmpunom and before deduction of employees’ profit- sharing participations, in both cases after depreciation and all other charges .and f euL income taxes at current rltes have been as lollowu Is WoRrLD-WIDE THE NEW YEAR Right by Investing Selcct these time-tested in]Our investments foriyour ' hfi??m#— -h:z%g;::m 6% il [ SoglRy FIRST MORTGAGE 221 ' arivih ioraa0 il 3 ¥ EgEw 5,042,304 7,807,506 53 YEARS of Proven Safety g ey LU e ek i HE F. H. Smith Company, founded in Janu- ary 1873, hds completed 53 years of con- tinuous service in the field of first mortgage in- vestments without loss to any investor. Smith Bonds are owned now by investors in every State in the United States and in 30 countries and terri- tories abroad. 5 { - Adirondack Power and Light Corporation First & Refunding Mortgage - This world-wide confidence in Smith Bonds is the result of 53 years of proven safety—53 years.in' . . which ievery cent of printipal and interest ‘has Bonds, Series of 5's Due 1956 been paid promptly on the date due; 53 years of “at oply’$6,377,338. The latest financial returns of the foreign distributing comparies and branches show net tangible assets in excess of This Company serves: some .. freedom from warry, delay-or loss to any investor. $7,2 o,oon which'item-is carried on the balance sheet:at $2,948,156. Subshmhnl in the balance uheet the umountn of $20,000,000 and $7,250,000, dibn 1;::;:3;T<'1r},,'.711 ‘ RS For your January funds, Smith Bonds gw: you : _asabove, net nuet: would amount to over $50,000,000. 2 : this proven safety of 53 years with the liberalinterest rate of 7%. $1,000, $500 and $100 denominations; maturities from two to'ten years. Our new book- - lets will be mailed upon receipt 6f your *. name and address on the form below. 4 many f tles in this rezion or industrialized Net earnings for 12 YIV"I\|h~ ended Nov. 30, 1 215, times’ annual Mortgage | Bond interest requirement. . THE F. H.SMITH Co. qumhd 137.1 Smith Bulldmg, 815 Flheenth St. (Mam 6464) ~. NEW YORK—PHIL. \nmnu—i‘l‘l‘lflnvncu—m\wznmnl Price 96!; and interest Yielding about 5.25% Send for circular A-617 | E.H. Rollins & Sons ‘ounde 7 ——v—————‘—_“_——'——— 416 Weodward Blds. NO LOSS TO ANY INVESTOR IN 53 YEARS . Washington f _—_—_——'———_Ta.’ "A-Mlflnhm Roaten '~ Nawr Fork Riramn Din | ' KENNETH F. BROOKS | Washington Representatives: The.employees’ profit-sharing plan heretofote in effect, the basis'and amount of which have varied from time to time, has been discontinued and mnte.d 1,50,000 fully- pmd sharu (37}4%) of the Common B Stock are being set aside for employees. TRED " DIVIDEND RECORD The Nnhonll Cash Register Company (Ohio) has paid cash dividénds on its outstanding common stock for every year since 1891 —a period of 35 ynfr—exeept 1898, when 22009, stock dividend was paid. ASSETS Cutreiit asyets, as at ‘November 30, 1925, amount to $32,459,392, compared with current liabilities of $5,635,456, as shown by a pro forma balance sheet 'as' at.that ‘date of The National Cash chxster Cornpuny (Maryland) prepared by Meurs Price, Waterhouse & Co. from, thie ‘hooks of The ‘National Cash Register Company (Ohid), giving éffect to the capitalization of the former. Net assets, as :hownon ‘such balance sheet, amount to $32,729,348, including domestic and foreign patents (more than 1,200 in number) and good will at $1. Property and equipment, recenly appraised atsound values by The American Appraun] Company at not less than $20,000,000, is included R &7 the issue of if B £ m the: acquisition of The National Cash Register Company (Ohie). Pnce $50 per Share jrpfec L ELMER ' SAUTER Dillon, Read & Co. ts stock The N-flml Cash x..m-— Company (Maryland) {Ris stock for delmry i, 'hen and as mued and -coeprodby us, subjact to approval of legal proeeedm‘s by our counsel. It is expected that idelivery will be made ort or about January 11, 1926; in the {orm of temporary stock certificates, or interim receipts of Dillon, Read & Co. Further information is contained in our circular which mqy be had on request. been acrepted by ne s+ aceurate hut are 8 no event to be cpnstrusd as representations by .-