Evening Star Newspaper, May 25, 1926, Page 31

U F FOWLS ARE LOWER IN CENTER MARKET Turkeys Advance— Cool Weather Makes Pork Price Continue Firm. I 4 Retailers are heing informed of the Drospective closing of most of the wholesale houses next Monday. when | Decoration day will he celebrated, in order that there will be no misunder- Standing in the matter of layving in | supplies to carry them over until Tuesday morning. It is expected that retailers will profit by the information and make their Saturday purchases accordingly. ‘Turkey prices. lower than usual the past week or two, advanced 5 cents a pound, while the price of fowls took a slight drop. Live tu:keys sold at 25 cents last week. dressed stock bringing 30 cents. Today the live atock sold at 30 and the dressed at 35 cents. Fowls, quoted at 32 and 33 last week, dropped to 30 and 32 cents today. Cool weather had made the fresh pork market continue firm, according to dealers, while the plentiful supply of green vegetahles has resulted in increased sales of smoked meats. There also i a steady demand for beef, veal and lamh. . Market Prices Today. Butter—Pancy, one-pound prints, { 46a247; tuh, 45a46; store packed, 25. Eggs—Fresh, selected. 31a32: hen- nery. 33a34: current receipts. 29a30. Poultry, allve—Turkeys, 30. Spring hrojlers, 45a53: Plvmouth Rock brofl- ers, 113 to 2 pound: 45: White Leghorns. 2. roosters, 20: duc! 15: keats, 3 . T0a80: . 35: broilers, keats, voung, 9 : old, 50a60. _Live stock—Calves. choice, 12; me- dium, 10a11: thin, 7a8; hogs. heavy and medium, 13%;: light, choice, 15; lambs. 16. 20 pork 34a35; hams, shoulders, 3 Fri and Vegetable Review. market report on fruits tanles (compiled by the Ma ket News Service Rureau of Agricul tural Economies) says: Apples—Supplies light: demand mod. erate, market steady: bbls., Marviand and Virginia. A 234.inch Winesaps, F.50 a6.00: fex £.50. A 21,-inch Ban Davis. 3.0023.50: boxes, Washington. medium to large size, extra faney Winesaps. 2.7523.00. taloupes — Supplies demand moderate, market aker: California Imperial 458, mostly, 6.00: ponys, erripe, soft, all sizes, 1.00al1.50 lower. Lettuce—Supplies limited: demand moderate, market steady; California, Northern district, crates Iceberg type, 4-5 dozen, 4.75a5.00; some ordinary to fair quality and_condition, 4.00a4.50; North Carolina, 5-peck hampers, Big Boston type, ordinary quality and condition, 75al.25. Onions—Supplies moderate: demand moderate, market fairly steady: Texas xtandard crates, Yeliow Permudas, U. 8. No. 1, 2.40. Potatoes—Supplies moderate; de- mand moderats, market steady: old atock: Michigan. 150.1h. sacks Russet Rurals, 17, § No. 1, 5.50a6.00; new wtock: Florida douhle-head barrels, Spalding Rose, U. S No. 1, 11.00a 11.25; U. 8. Ne. 2. 8.00a8.50. Strawberry Market Steady. Strawberries — Supplies ~moderate: Aemand moderate; market steady: North Carolina. 32-quart crates Mis- slonarys. ordinary quality and condi- tlon, 3.0084.00., few higher: Virginia. Eastern Shore, 32.quart crates, va- rinus varieties, fair condition, 5.00; Maryland, Eastern Shore. 32-quart crates, various varleties, 6.0028.00, ac- cording to quality and condition; homegrowns. 32-quart crates, various varieties, 7.00a8.00, few higher. Tomatoes—Supplies liberal: demand moderate; marke pink, wrapped. rixes. ripes wrapped, fair quality and condition, fancy count, 6.50; choice count, 5.50. Cucumbers—Supplies moderate: de- mand limited: market steady: Florida, 74-bushel hampers and_square bushel 3 fair erates, fancy. 2.50a2.75; choice, eondition, Washington Stock Exchange SALES. "f!'hmr.mn Rwe. & Flon. 481,000 at Capital Traction Co.—30 at 103 R o RO 8 Eiee. St 245 at 20, AFTER CALL. " otomae Electric Cone. 5551000 at Tashington Gas Lieht—18 at 8R%. 4 at AR Ly i Money—Call Ioans. 5 and 8 per cent. BONDS. PUBLIC UTILITY. American Tel. & Tel Amer. Te1. & Telea acortia e Bt Raco: 3 Ana % Pot: Guar Anked. 3ep33en T ¢ 1 et B ns, otomac Elec. otomac Elec. Potomac Elec Pot. El. Pow [ 1° g Alex. lec. 4a oc. gen. MISCELLANEOUS. C. Paver Co. Mfy &:. Joint Stock L'd iy Rwv. outhern Bldr. 6ias g #h. Mkt. Cold Storags 3s.. STOCKS. PUBLIC UTILITY. rican Tel. & Talgs. : i’.';jr.“r'h 3 s | ¢ Gapital Tractjon f gton_Gas Nar! ortalt Eléc. e Wash. Elec. ptd. NATIONAL BANK. vy Rwy. B RO D3R 237333533233 TRUST COMPAN American Seeuritiv & Trust.. {Continent; 3 . Merch: . o & b & Trust.. Union Trust..... 5 SAVINGS BANK. Cemmerce & Savings : st Washington . 2 Sacurity Sevent] ree inited States. Washington Machaniés FIRE INSURANC! & P 33 130003 000000008t SIIT23 a9 Pt I35 Firemen's . National Unil TITLE ST e % : Tit! i I:w. Co. M MISCELLANEOUS. ¢ Paper ptd.. 3 Paasral Efin::nm : 3 onotype. Sscuritr Starage. *Ex dividead. INANCIAL, [ NEW YORK CURB MARKET || Received by Private Wire Direct te The Star Office THE EVENING -STAR, Sajer BY WILLIAM F. HEFFERNAN. NEW YORK, May 25.—Buying op- erations were renewed in the ol shares on the Curb Exchange today and at times improvement was -pro- nounced. Traders were paying little or no At- tention to the slight increases in do- mestic crude oil production reported from week to week, and were giving more consideration to the improve- ment which has taken place in the industry as a whole, and the favor- able outlook for the future with gaso- line consymption running at an un- usvally high rate. The increase of 11,085 barrels dally in crude output for the period ended May 22, passed unnoticed so far as the market for the ofl shares were concerned. Prairie Oll and Gas, Standard of Indiana, Galena Signal, Humble and Vacuum were the prominent members of the so called Standard issues. Con- siderable activity in Gibson Oil fol- lowed the report that the company had brought in number one Kings- NEW_YORK. May 25.—Following is an ofcial list of bonds and stocks traded in on the New York Curb Market today. Salen in 2 t an 13 i N ‘ongrove N Cro Covo33xon 2E5222232335R5032332523852 ? Fi SESSF SOF PSS SEIr Serv Serv An Serv P %:A'dn o i Pap B 1B & L] ice 68 e Price tingon Schil t Tm At B 6y 3. re. et chehtd o 5 TS LI e352ovs233 =35353R533353338550, s, A 8s Dyl Su B T F ST 5 SEZxzeron: 4 B TR S5353ssmnem3e s EEOCOCTOT BB D1 VA S S 1D SO DRI IR D3 £3 Pz 17 ! 7353 5 nd v ¥ rey - semoron 1305 1000 B e D arni s 10k S 00008 2ooog £y SresZcs SEEIIE & i e=S30e>552 S ne: Q7% 232 13 3 z uIIPER 3338383 285853, PES FEPTESEOSEIT 55 FoaT¥FT i FESTEE FEIPE i o 2233 32333 23! 23 222832333 SRSERRSRR! 102 B 92 % 101 102 27 101 130 103 [ Sesssas 4 2 Antiogua 7s A 4 Antioaua 78 Baden Buenos 'Air 2oz 2BREIE! £ onn SEFSTIE S E i 2 ST LIS D St SRR3R0 2ER T - & RS IE Sreosas—voo0D SRERZERIZLIERIRRS BEE SSTPTVERTIGE e , o -~ fret Rt i hrindt i eSS b e et ois 2 2322 unite. 300 Anglo Am 0i. 18 Ang Am O n cic 17 e cacaBait s 2358582 FEETEES FEESEE 43 i SR LIRS gga 2 JIBRTL: P EE 32522353 i BB Saswsant et Sumameda: 222385 bt Sawet & ® rre, = INDEPENDENT OIL 8TOC] n hundreds. 34 Am Con Oilfields 4 Maracaibo 7 k Nat G @ 2. I3 o o [ S 30 3 BRI R D BB FPSSRITE S » FESIFRITE SRS S FEE » 553 0 = a3 3 S SRREST SR ngeay G i3 i 13 ST o0z cam i3 v i3 . i R A et Didws mezam 3 o3 S BRI SRR I PR PSRN FEPRE BT 29t i3 Saw SR RRIISS 8 P35 i & ¥ is oz Sales in INDUSTRIALS. u nundred 1 Als Gt South. .. 2% Ala Gt South o vie. 3= ] £ 1 S8R33383533 3 PEE SRS RREE . 0 il a1, ewmsmssonssd e . : P = 2 ot ot S50 0 5 5 D D139 e T N0 % S S FEEST SEFEE SR ERE 5 ®a, 2 m ezt 333! 2" 2% a3 I 22 5 = »; 0, ) B o o B g d 23395 H S39: 3 o &’«gi LEE e E "~=:~§:g£§ o e o o RBSERE o 1and well in the panhandle Fiel Texas, flowing 1,000 barrels daily. dem Oil, the latest addition to the list, went into new high ground, when it crossed 914, but the gain was frac- tional. Relter Foster was another that did better, crossing 22 again. Auburn automobile was about the only member of ita group to do any- thing and at 50 retraced the 3 points loss of last week. Some selling came | into Rickenbacker, reflecting the cut of from $100 1o $200 in prices of its six-cylinder line, but it rallied in the afternoon. The upturn in General Electric new shares was sympathetic, with higher prices tor the old shares on the Stock Exchange. Continental Baking issues were irregular, further pressure mak- ing itself felt against the preterred, while the A gained almost 2 points. The 7 per cent bonds of the Galena Signal Oll Co.. which dropped sharply Monday for a loss of more than 10 points, recovered 3 points, when they changed hands at 37. 4 Foundation F 3 Fox Theaters A. 2 Freed Eise R C. 14 Freshman _Chas. 1 Galv_Houston El Corp 1d in Pan- o D oo SESTPESIENT =232 ires Ch AL orn & Hardar & Hard otd % =S BN s o o 8 e P TR s b n 3390 2w EHeEte At e PR P e ¥ 3y 3 I“M'A‘ st o AT & S L Pt ietrelt AR b [ PP ot riet Y [T o -] S E P et S s 2 PO e s e . S 0onn s 21 B DR D7 o B S~ i i ...,,.. B i s Xy AR ER3EE 3! R 5 ey t 2 DY e % e 235, F = = egin Cop Mines Gold .. 24 1 Carn 9 Cona 16 40 30 Awthorne ecla_ Mine 08 Copper 3 Kimland Lake. 4 Newmont Mining pissing ... .. i3 L3> 3ReramusD 3 > o F6F £ N 2 & BANK CLEARINGS. W YORK, May 25 (Special).—- New York bank clearings, $914,000,000; New York hank balances, $38,000,000: New York Federal reserve bank cred- its, $81,000,000. GASOLINE ADVANCED. i NEW YORK. May 25 (#).—Sin- clair Refining Co.. has advanced the wholesale price of gasoline in tank cars '3 cent a gallon to 14 cents at New York, Philadelphia and Atlan- tic Coast terminals. CALL MONEY STEADY. NEW YORK. May 26 (A.—Call steady: high, 4: low, 4 ruling closing bid. 4. offered at 4%: last loan, 4; call loans against accept- ) time loans steady: mixed eollateral, 80-90 days, 4: 4.6 months, 4; prime mercantile paper, 4. FEDERAL LAND BANK BONDS. (Quoted hy Alex. Brown & Sons. Closing. id. B 1 !whlrh shareholders of Philadelphia i} | previous week, according to the report | cipally of fertilizer, tobacco. tractors. COTTON IS STEADY IN TRADING TODAY Fluctuations Small in Early Dealings—Prices Two to Four Points Up. By the Aseoctated Press. NEW YORK, May 25.~Cotton fu tures opened steady, July, 18.25; October, 17.50; December, 17.45; Jan- uary, 17.36; March, 17.45. The mar- ket made rather a steady showing in today's early trading. Early weather reéports seemed very favor- able as to overnight conditions in the South, as they indicated more sea- sonable temperatures without any further rainfall, but there was some covering by July shorts and probably a little buying on talk of a low barometer west of the belt, which some traders thought mizht bring showers in the Southwest tonight or tomorrow. Liverpool was a little lower than due, but the market here opened steady at a decline of 3 points to an | advance of 1 point and worked up 2 or 3 points. At the end of the firsi_hour July was holding around 18.27, and December 17.45, .or 1 to points net higher. New Orleans Quotation NEW ORLEANS, Cotton futures opened s 17.90; July, 17.58: Octoh cember, 17.07; Januar) The market was steady today. though Liverpool was lower than due. First trades were 2 points up to 2-points down and initial fignrea proved to he the lows for the time being And the market improved after the opening call mainly owing to the fact that the weather continued dry In the Eastern belt, where rain is needed. Prices improved with July trading to 17.60 October 17.09, and December. 17.10 or 2 to 4 points up from the opening and 3 to 4 points above vesterday's cl tices for 1,000 bale tracts were issued thix morn 2 WON'T EXTEND TIME. NEW YORK. May 25 (#).—Stand- ard Gas and Electric announces tha! he time limit expiring May 31 in Co.. Pittsburgh Utilities Corporation, United Railways Investment Co and California Railway and Pow Co. may exchange their holdings for stocks of Standard Gas and Electric will not he extended. . PORT TRADE DROPS. BALTIMORE, May 25 (Special.— Importe and exports hoth decreased the past week compared with the of the collector of customs. Imports amounted to $1.363.968 of which only $98,714 was dutiable. twhile exports totaled $2.326.603 and consisted prin- copper, oats, cotton, tinplate, coal, ofl, corn, pipe and steel. * AMERADA EARNINGS. NEW YORK May 25 (®).—April net sarnings of the Amerada Corporation are expected to exceed $800.000. an- proximately three times the average monthly net earnings in 1925. The company’s current production is re. ported at about 14.300 barrels daily. Net earninge for the first quarter were at the rate of $270,542 monthly. ATCHISON'S CONDITION. NEW YORK. Mav (#).—The Atchison, Topeka & Santa Fe has' enough cash to take care of its pres. ent needs and the question of new | financing through stock issues has not heen discussed, savs W. B. Storey. president. The road's earnings t vear should be as large as in 1925, aaid. as prospects for wheat crops in Kansas. Oklahoma and Texas were good, while movement of fruits from the Pacific Coast probably would be | heavier than last year. | LEHIGH VALLEY DEFICIT. NEW YORK, May 25 (P ——A deficit | of $173.218 after charges {s reported | by the Lehigh Vallev Rallroad for the first quarter of 1976, in contrast to | surplus of $1,328.816 in the first quar- ter of 1925, equal to $1.08 & share. | Gross revenues Adeclined to $15,969,367 | from $18,198.400 a | = . | BUILDING HELD BACK. CHICAGO. May 25 (Special)—A | large volume of construction held | back until agreements could be signed | with building trades unions, now is| ready to g0 ahead in Chicago. The 533555333: 222233339 38 4 Ly e WOOL PRICE FIRM. BOSTO! May 25 (Speclal).—Mill buving of 6dd lots of wool marked the only activity in the Boston market today. Prices are firm more because dealers’ supplies are small than be- cause of any demand. Strictly fine eombing territory wool is in limited supply &nd i held for $1.10a$1.15, but mont sales are of shorter staple lots containing 40 per cent fresh combing at $1.00a31.10 clean basie. FEIEEEEELE &I 3 33 FOREIGN EXCHANGE. (Quotations furnished br W. B. Hinbs Nomit sfinng &% - iweiholm. erown. NEW YORK, May 2§ (#).—Foreign exchanges easy. Quotations in cents. demand, 485 165-1i T Ceranes, " nke rance, 3 32814 cables, tal; omand Switzerland, eece, 1.38; Po- Czechoslovakia, 2. Jugeslavia, 1.78%; Austreia, 14.128; Rumania, ,38; Argentina, 40.125; Bra- 21}, 15.10; Toklo, 47.125; Shanghai, 12; Montreal, 100.06%, signing at the old scale of wages hy | brickiayers is expected to he followed ' by other trad WASHINGTON, D. C., TUESDAY, 0SCARWELLS AGAINST AGRICULTURE SUBSIDY | Refutes Popular Notion Bankers Opposed Federal Reserve Sys- tem at the Outset. Special Dispatch to The Star. GALVESTON, May 25.—Bankers as practical economists are not ready 1o subscribe to a Government subsidy for agriculture, Oscar Wells, presi- dent of the American Bankers' As- sociation, told the Texas Bankers Assoclation convention here today. He 2lso told of the national associa- tion's work in behalf of monetary re- form. retuting the popular notion that the hankers had opposed estab- lishment of the Federal Reserve Sys- tem. “You are very much interested in Texae in agriculture,’ he said; “its problems are very perplexing and the whole economic world {s con- cerned about the manner in which they may be solved. 5 “Unfortunately it is not alone an economic question, but it has be- come as well a serious political ques- tion. There,is hardly a session of Congress that has not hefore it sev- eral plans designed to bring relief to the farmer. It is becoming rec- ognized that there iz a lack of bal ance hetween the cost necessary (o he expended in producing the erop and the proceeds of that erop when it ix harvested. The hanker with als ldeas of soundness, and as a prac- onomist, 1= not quite ready bacrihe to a plan_ which in- eludes a subsidy by the Government. He evens wondera whether the {arm- er himself will be hnwm,hdhl! \h: roblem s not allowed to he me! Inhroulh the workings of the law of supply and demand. and alded by «ciance and the experiments of the collages and Department of Agri- culture. “Thiz is the theory upon which the American Bankers' Association has created its Agricultural Com- mission. It has employed a man of v: experience in the science of ag- ulture. He Is spending large <ums of money in conducting con- ferences throughout the various States to bring together the agricul- tural Jlleges, the farm organiza- tions and the rural banks interested in the better development of ag culture.” Have You Been Stung Yet? Some men have to get stung good and hard before they learn to be cau- tious in making investments. Before igate! | Real Estate Gold Bonds Secured by First Mortgages Guaranteed By The United States Fidelity & Guaranty Company Resources, $46,000.000 To Yield 6% Plus tax refund up to 43 m|1|(.. Descriptive circular upon request. CHAS. D. SAGER “Since 1905.” 924 14th Street N.W. Main 36. LOANS We will gladly receive and give prompt attention to ap- plications 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, extend- ing over a period of Thirty-Five Years —insures your protection. Percy H. Russell Co. 926 15th St. NW. The New York Life Insurance Co. Offers to. Make First Mortgage Loans On Improved Real Estate in the Dis- trict of Columbia and Nearby Suburbs in Montgomery County. Maryland FOR 3, 5 OR 10 YEAR PERIODS Houses Business Properties 5Y2% Apartments Office Buildings ON APPROVED SECURITY Apply RANDALL H. HAGNER & GOMPANY, MORTGAGE LoAN 1321 Connecticut Avenue GORRESPONDENT Telephone Main 9700 ). B. Moses & So ’vni}-u Carpets F St. at bills - on- | Fatablished 1861 Linens Eleventh Uphelstery BUSINESS FURNITURE AND EQUIPMENT Bither in Steel or Wood A phone call will bring a representattve at your convenience ain 3170 MAY 25, 1926. On improved real estate in D. C. and nearby suburbs ~—for 3 or 5 yearsor longer. Prompt approvals. Ample funds. FINANCIAL. % Second TmuINnté: Purchased | Money to Loan Svallable for second | Sec first deee of trust on estate. n arey Marylan hfifi?uw"fimlflifl1: g 7% First Mortgage Notes Secured on Improved Property Allan E.’Wllker & Co., Inc. Zatahlished 1001 236 Bov‘lll:::rg_fl nlonlldln: 31 an Local Agent. ing & C Main 372 6 CONSTRUCTION % LOANS FRED T. NESBIT t Investment Bldg. . 9392 ! Getting What You pay For— YWhen you invest vour money in our First Mortgage Notes you expect protection—and vou get it. The Real Estate that secures each loan i¢ improved—and the fact that it is located in Washington. D. C.. the seat of the United States Government, doubly insures its value. In all our vears of Investment experience no customer of ours has ever-lost a penny thru owning one of our— First Mortgage Securities Annual Return 6'2% MORTGAGE INVESTMENT DEPARTMENT HANNON - & LUCH 713, 715 and 717 14th St Main 2345 H.L Rust Co. SUPER,POWER in VIRGINIA E have prepared an in- Wt«nfin‘ illustrated folder describing the resources of Virginia and the system of the Virginia Public Service Com- pany. This circular contains a map showing the extent of transmission lines and their connection into the Virginia super-power system. It will | be forwarded upon request. | THERE WAS A TIME | A.E.Fitkin&Co. | 168 B: —when those who had surplus funds paid for the privilege of having their money safeguard- - 5, ed for them. Our dway, New York 6%:% FIRST MORTGAGES BANK and INDUSTRIAL SHARES BOUGHT--SOLD--QUOTED Our exceptional facilities for the handling of all Continental Furopean issues are available to you. LANE, ROWELL & CO. 336 Southern Bldg. i Washington, D. C. l Baltimore A Third of a —provide the safest principal security—approved real estate values—and at the same time pay vou-an attractive rate of interest. For a third of a cen- tury we have unfailingly paid investors for the privilege of safeguarding their funds. Century Witheut a Loss B. F. SAUL CO. Main 2100 925 15th St. NW. Riehmond These Notes have all been sold $8,000,000 The Kresge Foundation Ten-Year Collateral Trust-6% Gold Notes (Closed Isswe) Te be dated as of June lot, 1926 Te be due June Im. 1936 :Imcind|Mmhm‘hi1’k(’h§lh¥lddlhc“vnl)lnvm semi-annuaily Jome | and December 1. C in desominations of 31,000 " Redeomabie 'as & Whole or in part en any interest date upom ot more then 40 mer ks 05 unefl snd incleding Jume 1, 1931, awd thereafter the redemption price will decremse of anwem, with accreed interest in cach case. A fxed vearly Sinkimg Fund equivalemt to 29 of the larges ided, commencing in 1928, for the retirement of Notes at not evceeding the curremt redempti quiviient t éme-hal of dividencs received resge Co. stock in excems of $400,000 wifl be paid to o T g caader T B e kg Fand or3 ead ;e e TRE CHASE NATIOWAL BANK OF THE CITY OF NEW YORK, Trewee To be guaranteed 21 te principal. sinking fand and inverest by S. 8. Kresge Treassrar o! The Krespe Foundation, bes mommerived b lotter and atber informetion furmiohed o there Wotes, oo foilows: - o ~m [ < otes. My S5 Kresge, Benbors i Hisrory The Kresge Foundation wae formed in 1924 under the lawe of Michigan. as a trastee cerpera- tion, for charitable, educational and philanthropic purposes. Since that time I have domated to the Foundation real estate, leaseholds and securities valued at approximately $2,000,000. I am presently donating to the Foundation 500.000 shares of common stock of the S. S. Company. having a present market value of approximately $22,500,000. The Foundation purchasing the land, leaseholds and buildings occupied by the L. S. Plaut & ny depart- ment store in Newark, N. J.. and also the land and buildings occupied by The Palais Royal, Inc., di t store In Washington. D. C. This purchase is being financed throngh a loan from the Metropolitan Life Ineurance Company for $5500,000 for twenty years at an aver- age interest rate of 5§ %. secured by a first m«mgoge on the Newark property, and by the issue of $8,000,000 Ten-Year Collateral Truet 6% Gold Notes to be purchased by the sankers. SecuriTY The Ten-Year Collateral Trust 6% Gold Notes will be the direct obligation of The Kresge Foundatien, and will be secured by the pledge of 500,000 shares of the common stock of the S. S. Kresge Company, having a present market value of approximately $22,500,000. The Foundation, upon the completion of this financing. will have other assets, including equities in real estate and investments, amounting to over $9,000,000, carried at cost in respect to estate holdings and at market for securities. Farnrios The income of The Kresge Foundation from dividends on securities and rentale from improved real estate, for the ten-year rnod endinq i]ume 1, 1936, after deducting interest payahle on mortgage indebtedness, shoufd anruge $1,132,000 per annum. This income includes cadh divi- dends on the common stock of the S. Kresge Company at the current rate. ividends nhovsbfi;( gud oncthu com‘r:onwzs hlre at the rate :! $1.20 per |7hn. Ea of the S. S. Kres, ompany for ., however, were at the rate .17 per sha - lent to $1,586,000 on the shares to be owned by the Foundation. il st All of the Foundation's properties will be leased for lon, riods to res, ible tenants in most instances will be on terms which will )rvvjlz.lr mmm'mfiw year. e \ GUARANTY The Ten-Year Collateral Trust 6% Gold Notes will bear my guaran at ty. by endorsement, of the payment of the principal, sinking fund and interest. After effect denation of 500,000 shares of S. S. Ki ompany commen stock te The Fownds Foundation, personal anpledged holdings in the S. S. Kresge will mse':'tfye be mot 1::::: “?ooaommm, of such common stock, haviag a curreat market value of appreximately [y s Ron o1 Dot 1o T detion. Chnoen e R i b £ Mo, Coslusesh, “when, s, and il iwued and by w" end 0 the approval of cownsel Puming otes or interim receipts eschasgesdle for : Price 100 and accrued interest Merrill, Lynch & Company Blyth, Witter & Co. Kissel, Kinnicutt & Co. Cassatt & Co. First National Co. of Detreit e X ot e e YAk e el bl White, Weld & Co. Hemphill, Noyes & Co. The tatewents presested i this while end on which we Rave