Evening Star Newspaper, June 3, 1926, Page 31

FINA OBACED NDLSTRY HAVIG B YEAR IProfits for First Half of 1926 Bid Fair to Eclipse All Former Records. BY J. C. ROYLE, ial Diapateh to Tha Star W YORK, June 3.—The smoke | af billions of cigarettes is lifting the | brofite of the tohacco manufacturers Jatter it as it slowly rises. 1'nless con umption drops off startlinly during | he remainder of this menth, the| brofite for the first half of 1926 will fhe the largest for any similar period n higtory. The tebacco manufactur- | had il most prosperons provement ever the simi ar period of last year During the first three months of | 1926 salex of rigarettes were 11.89 per -ent heavier than for the correspond- | ng period a vear ago. In April the | ax paid withdrawals of cigarettes truck the usual seasonal lull, but still_were far ahead of April, 1925, totaling £.973.000,000, as compared Iwith 6045,000,000. In May the out- Iput of cigarettes again went over 7.000.000.000, and there is every indi- eation that sales this month will be qually heavy. ) Cigar Trade Improy The clgar branch of the industry Iso 1= improving. with special activ ity in the lowerpriced grades. Tax patd withdrawals in the last two monthe have heen far ahove those for April and May. 1325. The redue- tion in revenue taxes on cigars has given impetus to that end of the busi- | nese and this has been increased by slightly Iower leaf tobacco coste There were 12,301,116 cigars manufac- | tured tn the Berks Lebanon district ! in the last month, a gain of §73.952 over Mav. 1925, ! duced in California. NCIAL, COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY The 4,000 em- ployes of J. & P. Coats Co., one of the largest thread manufacturers in the world, will go back to work next Mon day after a 10.day lay-off due to lack of ‘orders. NEW ORI The mills of the Southern Pine Association in the last week showed an increase of new busi ness of 3.6 per cent, orders totaling 76,500,000 feet. Production decreased 1.1 per cent to 72,000,000 and s ments fell off to 15.5 per cent to £00.000. Unfilled orders total 280, 000 feet. SAN FRANCISCO.- The Rivier, a hlack tahle grape only recently intro- will he shipped East this year for the first time. It matures late in July other table grape varieties, KANSAS CITY a hig whea! outturn in the has boomed farm implement sales to the hest point reached in more than a vear. Hardware sales have kept pace and sporting goods are moving brisk Iv. Automobile sales to farmers are showing a small gain. | othwest \F D.— The Co. is maintaining production, turning out rolled products at the rate of about 000 tons & month or more. Operat! on a large scale also are reported by the Otis Steel Co. ATLANTA, Ga.—Showers over the Southe; dry areas, but the precipitation was not sufficiently heavy to help cotton materially. The cotton fields are suf: fering badly. INITIAL DIVIDEND. NEW YORK. June 3 (). —An initial dividend of 30 cents a ghare was de clared on the no par value common stoak of Tidewater Associated Ofl Co. payable August 2, to stockholders of record June 18. A dividend of 8 share also was declared nn tha pre ferred stock, pavable July 1, to stock of record .June 10 ahead of most | The prospect for | t have brought some relief to | THE EVENING STAR, WASHINGTON, CAR LOADINGS AGAIN STRUCTURAL STEEL ORDERS. NEW YORK, June 3 (P).—Orders REACH MILLION MARK | for structural steel in the last week approximately 35,000 tons, with new inquiries for about the same volume. Year's Figures Shown in Re- port—Total Is 1,030,385. total about 25,000 tons. Increase Over Last Week's and Lutl—rh, largest pending business is in | | the Chicago_ district, where inquiries |ji D. C. THURSDAY, JUNE 3, 1926. REAL ESTATE LOANS ANY AMOUNT 1 APARTMENT HOUSES z 0 BUSINESS PROPERTY RESIDENCE LOANS AT LOW RATES FRED T. NESBIT Investment Bldg. Freight car loadings reached the | million mark for the se L consecu- | tive week this year, 81.: American | Railway Assoclation announced last | | night, in placing the total for the | week ending May 22 at 1,039,385 cars, an_ increase of hefore and 52 f CENTRAL LIFE INs. co. A Makes ar. Miscellaneous frelght totaled 390 | Real Estate Loans an advance of 3912 over the week; grain _and grain | f For 5, 10 and 15 Years ‘ UNION ver the correspond- products, merchan | 6,324, a decrease of 1,559; coal, 1 , a decrease of 2,461, and live | stock. 26,846, an increase of 389 cars. . An increase of 76 e and less than carload B Douglass & Phillips, Inc. | 1516 K St. N.W. PARIS PRICES IRREGULAR. % PARIS, June 3 (#). -Prices moved egulariy on the Bourse today. Three per cent rentes. 47 france i0 | centimes. Exchange on London, 152 nes b centimes, Five per cent loan, francs. The dollar was quoted at |81 trancs 15 centimes. | Fr. 5618' DEFICIT REPORTED. NEW YORK 3 (P).—A def t of $968.005 e first quarter 1926 {8 reported by the Delawa Hudson Co., after taxes and charges | | agalnst surplus of 2 in the firat | | auarter of 1925, or $1. a share. | ATCHISON TRAFFIC GAINS. sW& YORK, June 3 (). —Freight | traffic_on the Atch! Topeka & | Santa Fe in May Increased to 148,716 | carloads, compared with 140,399 in | May last year. Convenient amounts ot £100 and wp in day dreams and wake up broke. | Never put your name on the dotted | | line until vou have inquired of some {one in your bank what he knows {about some stock issue that is of- fered to vou privatel. 1433 K Street- FIRST AND SECOND TRUST REAL ESTATE NOTES SECURED ON IM- PROVED REAL ESTATE IN THE DISTRICT OF CO- LUMBIA. FEDERAL SECURITY & MORTGAGE CO. 1412 K Street Main 1599 Place your surplus funds now where they will safely earn a generous return—in doubly secured First Mort- gage Notes issued and rec- ommended by the Founded 1887 5 . Are You a Sucker? b %#Q’W &.’5 Too many people put their money x i -Main 1016 Main 9392 FINANCIAL. ‘ Announcement ‘Hughes & Co., Inc. Are Moving From 1418 Eye St. N.W. to Security Salesmen | Room 210 Deurike Bid, Will find a wonderful proposition if they 1010 Vermont Ave. NW. |||l will call at 1415 F St. N.W., opposite Wil- FiRGES lard Hotel, where fiemonstratton is being FOR SALE held on Sponsel Universal Joint. Board of directors giving personal letters of intro- 6Y2% THE TYPE OF SECURITY CONSERVATT INVESTORS In denominations of $250, $500, $750, $1,000 and upwards, secured on improved real estate situated in the District of Columbia. JAMES F. SHEA 643 Louisiana Ave. N.W. duction to their friends. Ask for Mr. Lloyd 8" is not too much to expect from a sound invest- ment. And 87 is the immediate vield of the pre- ferred stock of the Federal Security and Mortgage Company. In addition, the common stock offers unusual earning power possibilities. This is an unusual opportunity for the man of moderate means to invest in a house operating in conservative mortgages on improved, income- producing real estate. In some instances manufacture have passed on the reduction in re enue taxes to consumers. In other ingtances workers have made insist- ent demands that this differential he mdded to their wages. In general. however, prices have heen fairly steadv since the margin of profit in the cheaper grades even with the advantages cited is none to large Lor rafety, The manufacture of smokinz and ehewing tobacco and snuff has shown gains ranging from 214 to 3 per cent an compared with last year. All kinds of tobacco products have felt the affect of tha liheral advertising campalgne which have haen carried an by the manufacturers this year Cigarette manufacturers recently have been advertising their bran more extensively in the dafly newa- papers than ever before, and a gond part of the increase in sales is di- rect!r attributable to this cause, ac- cording to men closely allled with the tobacco industry. ‘The position of the tobacco grower | {s by no means so bright as that of | }§ the manufacturer. In many asctions of the country heavy stocks of old tobaces still are plled up in ware- houses. Prices obtained by farmers have not proved satisfactory in ma: instances. Internal dissentions hav shaken some of the growers’ organi. sations. However, the situation is slowly but surely showing improve- ment. No Reduction Expected. ronnu,-mmn is taking huge hites out of reserve atocks. The efforts of bankers, financiers and far-sighted growers to get farmers to restrict | tobacco acreage are beginning to| | have some effect The Virginia rateers of bright leaf are in a fairly edvantageous position and so are those whe have opened up the in dustry in seuth Georgia in late vears. In Kentucky, Tennessesa and Ohio flelds, however, thers have seldom jbeen €0 many young tobacen plants under cloth as this Spring. More | over. this is the last vear of co-opera- | tive marketing control in that section and it is a question what kind of marketing and growing policy will be followed in 1927. Manufacturers of cigarettes scout the idea of any general price reduc- tion. Reductions made in some cities hy certain stores, they say,are purely Iocal in effect and presage no price war. They add no reduction has been made in the list prices of cigarettes and none is being considered. OLDEST NATIONAL BANK IN DISTRICT OF COLUMBIA Demonstrated Capacity to Serve There can be no question as to the breadth of service and adequacy of facilities provided by an institution that has successfully met the commercial community’s needs for Over a Century. The Metropolitan is such a bank. Your account will be appreciated. 3% Interest Paid on Sau;nga National Metropolitan % Bank % Years Sth St., Opposite U. S. Treasury Mortgage financing has created thriving com- munities out of hamlets and built up prosperous cities where only struggling villages existed. The New York Life Insurance Co. Offers to Make First Mortgage Loans On Tmproved Real Estate in the Dis- trict of Columhia and Nearby Suburbs in Montgomery County, Maryland FOR 3, 5 OR 10 YEAR PERIODS Yo% ON APPROVED SECURITY Apply RANDALL H. HAGNER & GCOMPANY MORTGAGE LOAN GORRESPONDENT ‘ Ten shares of the 87 preferred and ten shares of the common stock of the Federal Security and Mortgage Company may be purchased for $125.00. How many of vour $125.00's need to be put on a full- Apartments time earning schedule? Houses Office Buildings wn gy Business Properties (IR (IR T IR i) in i 0ld Write, call or telephone for an appointment C. E. MORAN & COMPANY INCORPORATED INVESTMENTS SOUTHERN BUILDING Fiscal Agents for Federal Security & Mortgage Company WASHINGTON, D. C. Authorized Capitalisation 100,000 Shares 8% Cumulative Preferred Stock, Par Value $10 100,000 Shares of Common Stock, ne Par Value 1321 Connecticut Avenue ‘Telephone Main 9700 Men Who Know the MAIN 3628-3629 Value of a _Buclget Each year our First Mortzage Securities are enioving a larger sale. Our Partigl Payment Plan is partly respon- sible for this—since it affords the purchase of a Safe, Dependable and Remunerative Investment by a regular monthly payment. Many of our customers hnve found that by budgeting their incomes and making “Investment” an item of that budget, they are achieving— NVEST your idle funds in our First Mortgage Notes. They are now yielding the attractive return of 614 per cent. Financial Indepcndcnce By doing this your vacation will he more enjoyable, for you will have the satisfaction of knowing that these funds are working twenty-four hours a day and that a substantial interest check awaits you on your return. MORTGAGF. INVESTMENT DEPARTMENT When purchasing Notes through 713, 715 and 717 14th Street Main 2345 i p Swartzell, Rheem & Hensey Company { G you know they are safe and have been i for more than 57 vears, during which time no investor has suffered loss. CLEARINGS OF BALTIMORE;: BANKS SHOW INCREASE | For Fifth Conecutive Month Fig- | ure Tops That for the Corre- | eponding Month Last Year. Bpecial Diapateh to Tha Star, BALTIMORE, Loeal bank clearings, which didered ona of the hest harometers of husiness. In May exceaded those of the game month Jast yvear by .883. or 5.8 per cent, and represenied the fitth consecutive For Those Who Cannot Afford to Lose PECULATION is only for those wealthy enough to face loss with a smile; the only « real investment is that in which chance plays no part, where with mathematical cer- tainty can be computed the safety of princiin.l, a fair, honest interest return and a market satisfactory in case of need. For forty-four years S.W.STRAUS & CO. has been dealing in safe investments. Never has a client of this House waited even one day for payment of either the principal or interest due him. Such a record can mean only that the securities sold by S. W. STRAUS & CO. are sound imiutmenu for those who cannot afford to lose. Today, sound first m e real estate bon secured by office bm, apartments like structures of the highest class,in the prin- cipal cities of the United States and Canada, can be purchased to yield as high as 6.25%. Write for current literature on these bonds, and ask for Swartzell Rheem & Hensey Co- _fl"s’f’.ffuw the corresponding m For the first five months of 1526 the 470,160,062, com. in the sa n inerea $7 Years Without Loes to An Invertor Comparative clearings for each of preceding four months follow $405.521,978. against $443, February. §442,897.184, against $380.338.546. March, $502,196/136, agalnst $451.73 826, against $482,305 THE MAN WHO DEMANDS SAFETY —who insists that every dollar _he invests be provided absolute protection as well as produce interest income—is the man who purchases our 6,9, FIRST MORTGAGES OR fifty-three years The F. H. Smith Com- pany has kept faith with its first mortgage investors—protected their funds, paid their inter- est promptly, returned their principal dollar for dollar when due. £ By thus keeping faith The F. H. Smith Company has gained the confidence of investors througl.'l- out the world. Men and women in every state in owners of our First Mortgage Bonds. 3 We now offer for June ith Bonds, 4/0 M foziiiien tected by safeguards that have resulted in our record of no loss to any investor in 53 years. THE F. H.SMITH Co. Founded 1873 PITTSBURGH MINNEAPOLIS " BOSTON ALBANY NO LOSS TO ANY INVESTOR IN 53 YEARS _— e the United States and in 33 countries and terri- investment or July fes- ducing properties in Washington, Philadelphia, Pittsburgh Send your name and address on the form below for descrip- SMITH BUILDING: Washington, D.C.—~Main 6464 <eeess Address. Money to Loan y Bradeed of trust on real estats. 1. Welleris g Backed by sound, conserva- tively appraised real estate, these securities safeguard your funds. Through management methods perfected by a third of a century’s experience, your interest is assured in full on time as promised. A Third ‘ofa Centwry Without a Loss We have a limited amount of 0 First Trust Notes for sale in denominations of $100, $500, $1,000 AND UPWARD Secured on Real Estate District :;f‘h(.:olumbin Our experience extending over a period of Thirty-five Years insures your protection * Percy H. Russell Co. 928 15th St. N.W. 929 FIFTEENTH STREET Telephone Main 5847 WASHINGTON 44 YEARS WITHOUT LOSS TO ANY INVESTOR tories abroad, are now the satisfied and confident ervation several new ls- and Buffalo, which pay 63; % and 7%. Each issue is pro- tive circulars, and for our two booklets about Smith Bonds. NEW YORK PHILADELPHIA B. F. SAUL CO. Main 2100 925 15th St. N.W.