Evening Star Newspaper, April 28, 1926, Page 25

FINANCIAL.' . - THE EVENING STAR, WASHINGTON, D. . WEDNESDAY, APRIL 2 ; FINANCIAL. 25 e — — = —. NEw vorK curs MARKET | |(0TTON TRADING WE BUY || We Wil Loanat54% || Lse Net Barnines || SOPERSE 2OV AYE Received by Private Wire Direct to The Star Office APARTMENT ‘HOUSES { BUSINESS PROPERTY First and Second Trust . s Protect This Investment WM. H. KYLE IN N ARRUW RANGE RESIDENCE LOANS AT LOW RATES Real Estate Notes. sc- Economic Conditions g::;l‘ Yfl'lneédlsnlictbg;; %n}it nothing further. Further nn.x»ru\v-l W YORK, Ap —The Curb |ment occurred in Mengel Box. Canada et today was taking its cue | Dry Ginger Ale went up close to the FRED T. NESBIT LOANS—INSURANCE un o) | cured on improvedreal ||| Tyler & Rutherford || A tons record of arge e || 1410 G St N-W- M. 6627 9 ing reports of in from the movement of the general |49 level, accompanying reports of in- 0 ved ; B0 ot stocics on ths BiE Boerd | creased ‘earnings and the outlook for estate in the District of earnings protects your invest- ment in Cities Service Com- A e B There o doubt on | @ highly favorable Summer business. o . Tons Correspandent: ot i or the 1 Sl St i g | NSt was s to renew ur, | Both New York and New Or-| First Trust Money/|| Celumbia. R SR R RENTS REDUCED the commo ock on a regular $ rd the move " W i e dlviaend o CHuvorably . | stocks Ford Motor of Canads, Whi | [eans Markets Quiet in To- ON HAND * Federal Security and WE————. T Lo oo g ot | enced specul: i Wall | has furnished a_sensation in o s e Service Company has always Street took this Is an assurance of | fluctuation, lost nnother § points B0 day’s Dealings. —Auvailable for Both Mortgage Company NewaRJ M- o: carned over 13/ met to its || mtinied industrial prosperity. e y gs. Building Loans and K 1018 Vermont Ave Common Stock. Here is the OFFIC S making new commitmen o Oil shares, which for some time had Completed Properties 1412 K Street record for the last 5 years n}!‘mu\ of a disposition to come o ‘tive, were prominent, ]lrll(l‘l By the Associated Press. R Ble. iIng ¢ Main 1599 Year Ended Net Earnings S N w the buving side. The price improve. | with the price movement variable.f ypw yopp A o5 Cotton easonable Interest e > B ment in lnost Instances was. siight | The upturn in both classes of Humble | e 28. bt Dec 31, 1921 sizossis ||| ] t / D, i3 e Instances e e e e e o o | uitivee apenea wead; My and Commission . s & 313 - N. turned q: but most of the | sharp, and alizing sales carried | July, 18.17; Oetober, 1 December, - - 2 Lot 16,093,616 Adjoining Times Building : : ‘| JAMESF. SHEA TN ” z e e early wis maintaned, ces down. Tllinois Pipe Line lnm; 16.92; January, 16.86; March, 03 ) % 3 v in which Electric Re- | point or so and .\un{d»u "3 The market was quiet but fairly 643 Louisiana Ave. NW. o by < > = ==t - 4 LA 18,989,051 | 1 room T to buying | Nebraska crossed the 260 ‘;:T.]L»m“im steady in the early trading. y W = A | A 5 ok hi 5 $30 ssion that | points. South American issues prices were 2 points higher on May T e R : & i | At its present price, this sea- || s -k . 4 itte, but it was evident that the | byt generally unchanged to 3 points — ;s Experlen(Te 2 soned security will yield you ZEFOOTS . 115 sibilities of companies operating lower. There seemed to be a little | about 9% in cash and stock 4 rooms. .. ,$()0 il Electr ' to §1 again . were commanding 0| selling of new crop positions on the || WE PAY MORE INTEREST W\ Evokes Confidence \kl % | dividends. e i | ilable G where it was up onally, but did | cr i st failure of early private reports to Choice Locations . s t 2 4 Ficats 1 2 : ’ S, . Ci - e —— L& g By 15 e et Teveln 1 e s ]| (O BAIVNGS ASERUNTD ‘ Forty years of fair dealing (N3l | || 5 or Cirevter 1! s an official list of bonds and stocks L Ba } i U8 report of the Weather Bureau would (|| Than Any Other National Bank a > e i % % fraded in on the New York Curb Mar i 1 %34 | show considerable progress with plant- Copn 14 Washington I 61/2% :”th t_he !;eoplg 0{. Washlqg- rhongscw. B;ahany e A SR xR 3 Ry 5 wte Interest on DAILY Balances [ ton justify implicit faith OIRpaiy /| H. R. HOWENSTEIN CO. biorbed around 1860 tor Miay | || Come in and let us explain Astinor in First Mortgage Notes #03 Wilkins Bullding Tacerparated a 2, or ctober, however, and an 1 5 ces were 2 point or two up from c . I N t’l B k | §100 and Up |ss'ued and recommended by | ; 5 || 1311 # STREET NORTHWEST | the loweflt at the end of the first ommercial Na| anK | s this organization hour. i S | 3 : Liverpool cables said hedge selling s SC Beetis ed M = a ¥ » 3 o I i i O et A there had been absorbed by cover- Resources $17,000,000 | = Ty LTS 31, |ing on a more favorable view of the > # $ Lo I O 31 Frashman. Chas. ! British conl situation and more en- iOLDEN DONALDSON, PRESIDENT . | ” arod C . 1% | couraging reports from the Manches- 2 ) ; A o H r[‘he Secret of ! B ter cloth market. - % Founded 1587 i e e / - i i Main 1016 4 Successful Investments C Fpta 100} i is in A R r entral Life Ins. Co. 9 Y : R0 A S : s Makes hle & e Knowing Where and H ow! ' 1st Trust Loans o ] on Approved Real You may know this—but if you do not know how to TR Te iy, 16505 Gl ‘ A Thrd of . realize the. maximum income from your principal—and d (1927). The market was quiet with i Low Interest Rates | ! Gy if you are not positive as to the safety of a medium—we f 1 New Orleans Quotations. 'S, April 28 (P).— dy. M * 3 . : Experience 2 ‘ disposed to wait for the weath- SEE = ’ e Vi P cuss the ma er map and weekly crop report due e, " should be glad to have you come in and discuss the m ‘“‘r‘; e g Liverpool was lower Douglass & Phl“lps Does Your Rental with our Financial Specialists. They will be only too gla than due. g | the opening in ola crop n:;mqlha, ’bm [ nc. { Pl'opertv Pay to tell you of the new o tions opened 3 points |4 | 2 e 3 i Bl P {down. Trading was quiet after the 1516 K St. N.W. : i : Dependability 2 N call with prices improved 1 to 2 points. Frank. 5678 —you the full profit you 8 & L — . 7 3 . y Xai el ser BT 1w UL & ghtfully expect from it? ¥ o 4 DRY GOODS QUIET. 2 o= = \ third of a century’s ex- Tel Co pfl NEW YORK, April 2 2 - perience in property |f| of and Safety Norn 5. Sow’'c 8t B.C goods markets were quiet tod: B e e & ! rice levels unchanged. Print cloths ! % 1 Were quoted St T4 for G4X60S and 83 V"',g““" Public management, with a I First Mortgage Notes for 6 . There was little activity Service Company thorough knowledge of 1 Annual Return 6%2% in x'uk\\ silks, which were unchanged in price., | T | ase - ot dig ; | 20.Year 6% Sinking Fund | l}e_dsc and 1.enl supervi o e a | A Fool and His Money | Gold Debentures sion, fits us to find the MORTGAGE INVESTMEN ART) .| The fact that a stock certificate is ||| I Baics s P = i | printed in fancy green scrollwi £ The following factors make way t_” mcrease your {no proof that it is worth a this issue unusually attrac- | rental income. HA ON 3 LUCH : !than ordinary w aper. sz ti 3 i | . {of people In Washington would have 5 i i Ciac f (e o e saved their money if they simply had || rivilege of conversion into 1 f itk thlr. Damer o teh Shem i || Nationan © Pubiic - gervice || B. F. SAUL CO. 713, 715 and 717 14th Street he knew of some supposedly wonder- | Corporation Class “A” com- Main 2345 | ful_irvestment. t ! mon stock. : e - oo = F It Main 21( 925 15 Sinking F un d provided 00 025 15th St. N.W. P C pi Prompt Action First Mortgage Loans| which will retire approxi- | Lowest Rates of Interest and Commission | mately 40% of issue prior to | Thomas J. Fisher & Company, Inc. maturity. | Price 961/, and Interest LOANS | To yield about 6.30% || Descriptive ciroutar sent upoh 8 15th_Street Ample Funds | . request :or A-633 83 500 000 on Hand for | E. H. Rollins & So . . First Trust Loans | "flow-d"’ 's‘" 45 3 F LOUR MILLS OF AMERICA, lnc- | | 416 Woodward Bidg., Washington | N. L. SANSBURY CO. Inc. | Nt Lijatns | Twenty Year 6,9, Convertible Gold Notes, Series A 1418 Eye St. N.W. Main 5904 Pl Som Francisco ~ To be dated April 1, 1926 To mature April 1, 1946 14 Go Min 1§ Goldfia Cons : - 1 Hollinge s = = e . A % y 3 3 c 3 i i i iz s Interest bl er 1 at th N h K, trustee, without deduction for normal Federal income tax O Jneano ¥ : T R s Sty te roimbues the Ratdws. 1t ed w . tor the Pennsylvania and Connecticut 4-Mills Taxes. the Maryland 43e-Mills Tax, the Virgin 1 roperty Taxes not exeesding M t L ¥ ver §1 per annum and for the Masnchusetts Inco 0 af wuch interest per an- x um. Coupon bonds In denaminations of §1.000 and $300, wi Oney 0 Loan "ut ‘the ‘option of the company, on any interest date, in whole o crued Interest on or before April 1, 1930, and there after at i e j Notes of Series A are convertible up to and including March 31, 1936, or until any date specified for s redemption all or to that date, at the o:l ion of the h:‘ldcan. into gino kl'lnr‘; of $8 Cufluln;ve i mal| Preferred Stock, Series A, without par value, five shares ‘ommon Stock, without par value, for i ;3R detelille) Sl ar b each $1,000 face value of Notes. ive Preferred Stock, Series A, will be entitled to an ad- AR Improved Parcels of Real ! ditional cumulative dividend of $1 per share if in any fiscal year the net earnings, after deduction of i e ] Estate in the District of Co- the $8 cumulative dividends, amount to or exceed $225,000, or $2 per share, if in any fiscal year such net earnings amount to or exceed $300,000. DAIRY PRODUCTS. | lumbia—M mbia ortgages Renewed / CabipAsEARIGH BALTIMORE, April 28 Special).— s - _ive poultry—Young chickens, pound, | || MORTGAGE INVESTMENT DEPARTMENT (Upon completion of present financing) p . spri ; Leghorn: ¢ Authorized Outstanding , 4ba old hens, 3 " Twenty Year 61¢ % Convertible Gold Notes........ ... $5,000,000 $3,500,000 Bl ks, | Ly 3 t : Subsidiary Company First Mortgage 61 % Bonds,due $45000 each ; ; September 1 to 1934 4 A Closed Preferred Stock (without 308 . and nearby firsts, dozen, offered at 29. | || 713, 715 and 717 14th Street Common Stock (without par value)... TS ! i Note: . 56, il be designated $8 Camu- Main 2345 oy HLAL B e m"a'l'.‘r%:’:k :hwnflrlll”hgqrnsr::l'?mx'vnh 157500 sharen of com- ear ing ! LA B L CALL MONEY STEADY. Fonralock™ pro e Soprersion o™ onortibls gold otes. serier 1400 Vacuum Oil 100% 100 1 NEW YORK, April 28 (®).—Call i wertes A or other serles, but only for equiniion of addifional Broperties, eic; or for e 31, E e T zed and unissued notes, provided such additlonal notes carry a conversion privilege. DEPENDENT OIL STOCKS. money steady: high, 3%; low, h"rl.":] at 5% last cli?:r?%'fldmu Toans = = = Salient features as summarized by Mr. Thad L. Hoffman, President of the Company: against acceptances, 3; time loans steady; mixed collateral 60-90 days, ,000 20- o 300 hares of authotized preferred stock may - mmln'.«kal.s. | The ‘Bonds 100 100 5 120 Of Am_Ravon_Prod Am Sum T n v pntinen “ontinen B Dubiier R C C & t R 4: 4-6 months, 4; prime mercantile pa- per, 4a4%. \ MEJAL MARKET NEW YORK, April 28 (®.—Copper dull; electrolytic spot and futures, 14 asked. Tin easy; 63.00; futures, es unchanged. . . Zinc easy; East St. Louis spot and futures, . Antimony spot, 1 Money to Loan Secured hy first deed of trust on real estate. Brevailing interest and commission, | Joseph I. Weller's?, W5t % § WA No Regrets No ups....No downs.... No losses. ... No delays. ... That, in a few words, is the meaning of our record—no loss to any investor in 53 years. That is the reason why you, too, should invest in Smith Bonds— the bonds of no regrets. Current offerings of our First Mortgage Bonds pay 7%. For further particulars, send your name and address today on the form below. s e g blie No Lassto Any Investor in 53 Years Tue E H. SMiTH Co: Founded 1873 L -SMITH BUILDING | Washington, D. C. Main 6464 Boston—Albany—New York—Phila- delphin—Pittsburgh—Minneapolis | Name : i | Address nt Mot g5 61, t Boll Mills n 34%s 344 Equitable Co-operative Building Ass’n JOHN JOY EDSON, President FRANK P. REESIDE, Secretary Organized 1879 46th YEAR COMPLETED Assets .. ..$5,031,814.86 Surplus ............$1,352,749.93 Subscriptions for the 90th Issue of Stock Being Received I sysTEmMATIC Il| SAVING is the most effective means of ac- cumulating money. Results have established this fact. Join the Equitable and save systematically and you will accomplish in a finan- cial way more than ever. Join today. 915 F Street The New York Life Insurance Co. Offers to Make First Mortgage Loans On Tmproved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland. FOR 3, 5 OR 10 YEAR PERIODS ON APPROVED SECURITY Apply L RANDALL H. HAGNER & COMPANY' MoRTGAGE LoAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 BUSINESS AND PROPERTIES: Flour Mills of America. Inc., was incorporated under the laws of Maryland in April, 1926, to acquire, either directly or through entire stock_ownership, all the properties and assets of The Kan- sas Flour Mills Company (which owns the entire capital stock of The Cereals Company) and all the physical prop- erties, trade-marks, brands and goodwill of Valier & Spies Milling Company. These companies own fifteen mills in Kan: Missouri, Oklahoma, Illinois, Minnesota and Wis- consin, with an aggregate capacity of 25,000 barrels of flour a day, and have elevator capacity for approximately 6,680,000 bushels. The Company will sank as one of the four largest flour milling concerns in the country and it will be the largest manufacturer of hard winter wheat flours in the world. The brands and trade marks of the two companies are widely and favorably known in the trade, some having been on the market for more than fifty o vears. Among the more popular brands are “Made-Rite, “Honey Bee,” “Big 7.” “Enterprise” and “Dainty.” PURPOSE OF ISSUE: The proceeds from the sale of these notes and of 25,000 shcres of $8 Cumulative Preferred Stock. Series A. and 500,000 shares of Common Stock will be used (1) to acquire, either directly or through entire stock ownership, all the properties and assets of The Kansas Flour Mills Company and all the physical jes, trade-marks, brands and goodwill of Valier & ing Company, with properties, plants and equip- ment which The American Appraisal Company has ap- praised as of November 30, 1925, at a sound value in excess of $8,529,000, subject only to $405,000 first mortgage serial bonds of The Cereals Company, whose entire capital stock is owned by The Kansas Flour Mills Company; (2) to provide additional working capital and (3).for general corporate purposes. EARNINGS: The consolidated net income of The Kansas Flour Mills Company and its subsidiary company for the four and onehalf years ended November 30, 1925 and of Valier & Spies Milling Company for the four and one-half years ended December 31, 1925, after deducting deprecia- tion and allowing for interest on the outstanding sub- ary company bonds, averaged $650,589.89 per annum. or approximately . TWO AND SEVEN-EIGHTHS TIMES the annual interest requirements of the $3,500,000 Twenty Year 614% Convertible Gold Notes, Series A. The operation of the fifteen mills under a single man- agement will not only broaden the field of activities, but will_permit of a greater diversification of products. a standardization of general policy and milling processes, a co-ordination of advertising effort and a more economical purchasing system and will naturally result in operating and merec| sing economies which should be reflected in steadily increasing profits. Operating costs, already unusually low in most of the mills, are expected to he even further reduced when these economies become fully efil'lelflive. and to be made uniform throughout all of the mills. ASSETS: The consolidated balance sheet. after giving effect 1o present financing, shows net tangible assets, after de- ducting the face value of the outstanding subsidiary com- pany bonds of $10,786,925.04, or over $3,000 for each $1.000 face value of these notes. THE INDUSTRY: Of all the industries of the world, flour milling has undoubtedly had the longest continuous ex- istence and is unquestionably one of the most essential to our well being. There is virtually an irreducible con- sumptive demand for flour, due to the fact that its prod- ducts in_their many forms are daily necessities and are consumed by the great mass of the people. As our popu- lation increases so does the consumption of flour. Period: of depression do not materially affect the industry, for in good and bad times, bread is the one item of food that is always found on every table. The flour milling industry has unusual advantages due to the liquidity of its assets and to its ability to proteet itself, through hedging operations, against lasses both on its raw materials and on its finished products. Well over 90% of the total inventories could be disposed of in the open market within a few hours at prevailing market prices, All legal defails in connection with this isue of Twenty, Year 6347 Convertinle Gold Notes. Keries A, will be passed upon by Mesars. Masten & N 1 Nichols of N Milling_Comy ensrs. y_ha udited by o1 Notes when, as and if issued and received by us and subject to the approval of . 'for the Bankers. The nccounts of the Kai been T.vbrand, Ross Bros. 8 Mo s Company its subsidiary com; d ery. Accoantants And Auditors of New York.. ounsel. Price 99, and accrued interest, to yield about 6.559, Descriptive Circular upon Request . Spencer Trask & Company J. & W. Seligman & Company Edw. B. Smith & Company Kissel, Kinnicutt & Company All information given herein iy from offiial sources. or from sources which we regard as reliable; but in no event are the statements herein contained to be regarded ns our representations.