Evening Star Newspaper, April 6, 1926, Page 31

“AND FINANCIAL. BIG POWER MERGER. Btundard Gas and Electric Buys Standard Power and Light. ric € - quisition of Light Co., lic utilities supply ding terri- approximately | Central of Georgia Earnings. | LW YORK, April 6 (#).—The Cen- | orgia Railw 108, ad is ¢ Second trust notes secured on income producing Wash- || ington real estate. Money availcble for first mortgages and construc- tion loans in any amounts. Resources Over $2,500,000 : REAL ESTATE MORTGAGE & || GUARANTY CORPORATION || 26 Jackson Place L. E. Breuninger, President. COLUMBIA PERMANENT BUILDING | ASSOCIATION | PAYS 9% Assets Over $700,000 733 12th Street N.W. Melvin C. Hazen, Precident Floyd E. Davis, Treacurer | Clarence 1. Gessford, Secretary Business Property “Trades” Are Easily Arranged— EARNINGS SHOW GAIN. NE EW YORK, April 6 (P).—Interna. ‘ional General Electric Co. earned £19.17 a share on the common stock 5 after preferred dividends, 74 o share in 1924, Net ,617,204 after deprecia- rest and taxes, compared §45 the year before. Net ere $21,981,951. Unfilled orders 1t the close of the year were $9,645,000. AR aRZaZaREA3a” Bonds suited to the needs of cvgry investor. Our April cir- cular offers a selection of eighty-five dif- ferent issues. The National City Comnany Washington—741 15th St. N.W. Telephone—Main $176 44 Reasons Why 'I'HB record of 8. W. STRAUS & CO., 44 years of unvarying prompt payment to in. vestors, constitutes 44 reasons why you should investigate these sound securities, yielding, un- | der present conditions, as high as 6.25%. Write | for our current list of diversified securities, and ask for i BOOKLET 746-G , 929 FIFTEENTH STREET Telephone Main 5847 WASHINGTON NI NCLL NS AL 8 I —s omewhere there is some one who has a’ property (that you may de- sire), and he in turn may be in- terested in yours. We ef- fect exchanges. Hedges & Middleton’e REALTORS . 1412 Eye St.NW. Franklin95°3 THE < SEED THE FERTILE SOIL AND THE. THE EVENING HOMESTEAD ENTRIES, STAR, WASHINGTO: TIE-PLATES ADVANCE. Special Diepateh to The Star. NEW YORK, April 6 UP).—Quota- WINNIPEG, Manitoba, April ,6.— |tions on tie-plates in the Chicago dis- There were 350 homestead entries in | trict have advanced 32 o tou, with western Canadian provinces in Feb- = ruary, us compared with 207 the same month’ of 1025 Suskatchewan lea| g Mave You Been Stung Yett iy jome men have to get stung good with 172. For the first two months|gnq hard before they learn to be cau- in 1926 there were 626 entries, com.|tious {n making investments. Before pared with 440 in 19 invest —Investigate! BUSINESS FURNITURE AND EQUIPMENT Elther in Steel or Wood A phone call will bring a representative ut your convenience Main 3770 D. ¢, TUESDAY, APRIL 4, 1926 Deposits Invited in Any Amaunt——Sa‘me Rate of Interest Paid on Large and Small Accounts National Savings & Trust Co. OLDEST SAVINGS DEPOSITORY IN WASHINGTON 59th Year—Corner 15th & New York Ave.—59%th Year THE PENNSYLVANIA RAILROAD SuMMARY oOF ANNUAL REPORT FOR 1923 HE ANNUAL REPORT of the Pennsylvania Railroad for 1925 is now available and will be supplied upon request. The report gives detailed statistics concerning the operations of the company during the past year, with an interpretation of the results realized and general comments upon con- ditions surrounding the property. In brief the report shows the following: OPERATING RESULTS ToraL OrzraTiNG REVENUES amounted to e - Torar OreraTing ExPENSES amounted to. Leaving NeT Revenve of .. Taxes amounted to ... EqQuipMENT, JoINT FaciLiry RENTS, etc., amounted to.. 13,188,819 Leaving NeT RarLway OperaTiNG INcoME of COMPARISON WITH 1924 193§ INCREASE OR DECREASE - 672,136,962 1. $26837,786 $144,997,615 T. $17,149,112 31,700,789 L. 1,242,819 D. 5,401,801 -ee $100,108,007 1. $21,308,094 INcomE rrom INVESTMENTS AND OTHER Souxces amounted to Making Gross Income of 37,281,490 1. 6,373, -- $137,389,497 1. $27,580,663 RENTAL PAID Leasep Links, InTerest ox Funoeo Desr AnD OrHER CHARGES amounted to. Leaving NetIncome (Equal to 12.46% on Capital Stock) of - $63,220,324 1. 3.495.016 1. $24,085,647 After providing for a 6% dividend, sinking and other reserve fund appro- priations, and construction and other expenditures on certain leased lines and affiliated Companies, a SURPLUS for the year of $25,892,985 was trans- ferred to the credit of Profit and Loss Account. The greatly improved operating results for 1925 were due in part to the increase of business offered, but were very largely achieved through improved economy and efficiency in operations, and continued improvement expenditures. . - ) There was an actual reduction of $5,137,917 In transportation expenses, notwithstanding a large increase in the volume of traffic handled. Total operating expenses increased 39,688,674, but this increase was due almost wholly to additional amounts expended in the maintenance of the property and equipment, resulting in a further improvement in the condition of the Railroad itself. OPERATING EFFICIENCY The ratio of operating expenses to operating revenues in 1921 was 87.80%; 82.64% in 1922; 81.869 in 1923; 80.19% in 1924 and 78.43% in 1925 —thus reflecting steady improvement in operating cfficiency ever since the end of the period of Federal control. PHYSICAL CONDITION The physical condition of the property s better than it has been for several years. The financial position of the Company is stronger than at any time since the War. It expended $23,650,500 in 1925 for the improvement of its own road and equipment without selling any additional capital stock or bonds, and al- most $21,000,000 was spent for improvements on its leased and affiliated lines. During the same time it reduced its outstanding debt by $21,514,850. Assumingcontinuanceofsound conditionsand no unforeseen emergencies, the Pennsylvania Railroad Company’s cash and current assets should suffice to meet its necessities in 1926 without new financing beyond the issuance of some equipment trust certificates and smal! amounts of securities by branch and leased roads to finance advances made to them. - < @ . The annual report of the Company will be formally presented to the stockholders at the annual meeting on April 13, 1926, which is the Soth anniversary of the incorporation of the Pennsylvania Railroad. The Company-has paid a cash dividend upon its capital stock every year since the first section of the rcad was opened in 1849. Tt is now owned by 140,578 stockholders residing in every state of the Union and nearly all foreign countries. PENNSYLYANIA RAILROAD SYSTEM The Pennsylvania Railroad operates directly about gogg of the mileage of its entire System. The remaining lines are controlled through stock ownership. The consolidated System embraces 11,628 miles of road with track mileage of 27,806. The investment in Road and Equipment of the System as a whole at the end of 1925 was $2,302,802,826, and $181,929,340 additional in marketable sécurities and other investments. Against this total of $2,484,732,166 there are securities outstanding in the hands of the public of a par value of only $1,530,02¢,56¢. In 1925 the Pennsylvania Railroad System— —Employed, on the average, 313,947 persons to whom it paid in wages $373,87¢,686, or about 474 of all its revenues; —Paid in taxes $35,278,242, an increase of $1,944,879 over the previous year; ~—Paid . for !?ucl, materials, supplies, and improvements more than $22£,000,000, ~ The success of the Pennsylvania Railroad is due to the united effort of its employces and management, supported by the confidence of investors in FINANCIAL. Money to Loan of trust on real estate. -'_‘:fib."!l_.& &%‘A‘%‘ *“mrml-:o.. 6% CONSTRUCTION I am in the market for five bun. . dred shares Common and Preferred of Hare & Chase, Inc., Philadelphis. Phone Frank J. Mul ernhtlm of ! J. C. Weedon Company, 1507 K St .W., Main 10288. LOANS FRED T. NESBIT "" ‘ o —Available for Both Building Loans and Completed Properties 7% First Mortgage Notes Secared on N.W. restdential e ] u:;&;m:: Reasonable Interest ! and Commission o g | JAMESF. SHEA Main 8673 643 Louisiana Ave. NW. Many Property Owners Know —that our experienced management methods in crease their profits. For a third of a century we have specialiied in rental property supervision. We find tenants, attend to every detail, collect rents. A successful, complete servize is offer ed to you. B. F. SAUL CO. Main 2100 925 15th St. N.W. The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Estate in the District of Colfinbia and Nearby Suburbs in Montgomery County, Maryland. FOR 3, 5 OR 10 YEAR PERIODS ON APPROVED SECURITY Appiy RANDALL H. HAGNER & COMPANY MORTGAGE LoAN GORRESPONDENT | Apartments Office Buildings | 1321 Connecticut Avenue Telephone Main 9700 APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent Subuebe in Montgomery Couuty, Md 51 2 /0 INTEREST '.dpply fo H. L. RUST COMPANY LOAN CORRESPONDENT &se¢ PRUDENTIAL INSURANCE COMPANY o AM?RICA 912 15th Street N.W. Main 6888 To the Man Who Speculates WHEN the bottom drops out of the market. . When prices tumble faster than tickers can record. . . . When margin clerks work overtime pressing their calls for “more.” ... When you bal- ance the uncertainties of your financial position on cnthe hand with your family responsibilities on the cther.... “Doesn’t the fact strike home that some of your money should be in sound, non- fluctuating investments, where your principal would be kept safely intact and DEPENDABLE INVESTMENT D VERYWHERE farmers are cultivating and fertilizing their soil, in preparation for “planting time.” They know this is a step of vital importance in crop culture and that it pays in greater production. Of equal importance in Investment, is the selection of a medium that has proved de- pendable, safe and remunerative. all parts of the world. Not only is this relationship between management and men increasingly friendly and effective, but, during the past year, we have enjoyed to an unusual degree the cooperation of the general public and governmental authorities. In a continuance of this cooperative effort, the Pennsylvania Railroad finds grounds for a permanent assurance of its ability adequately to serve the public and make its proper contribution to progress and prosperity. By Order of the Board of Directors W. We ATTERBURY Presiden: produce a definite, dependable income? Smith Bonds naturally commend themselves for such a purpose. They are free from the ups and downs of the market. They are sound First Mort- gage Bonds, protected by safeguards that have re- sulted in our record of no loss fo any investor in 53 years. Send your name and address on the form below for our booklst, “Fifty-three Years of Proven Safety,” and descriptions of our 79 offerings. Read them thoroughly. Then make a substantial investment First Mortgage Notes . —with safety, assured income and peace of mind. ANNUAL RETURN Philadelphia, Pa., April 6th, 1926 6% % HANNON & LUCHY—— Mortgage Investment Dept Foundea 1873 | SMITH BUILDING, Washington, D. C. Main 6464 Boston, Albany, Minneapolis, New York, Philadelphia, Pittsburgh NO LOSS TO ANY INVESTOR IN 53 YEARS "i‘RszL AND SHIP OVER THE PENNSYLVANIA RAILROAD 713 14th St Main 2345 I 2 e . . , 5 f A o Sk S Stockkolders may cilain copies of the Amnua! Report from Lewis Neilson, Secreiary, Broad Stree: