Evening Star Newspaper, June 14, 1926, Page 31

FINANCIAL, THE - EVENING TEXTILE CENTERS IN NORTH PASSING | Closing of Lawrence Manu- facturing Co. Cited as Key ¢ to the Trend. BY J. C. RO to The Sta K, June 14.- more dpad than alive? s it worth That is the question more than one . g company owning textie plants in the art of the United States| Storkholders in ome of the w England textile plants have termined in the afirmative. The Law Manufacturing Co., for has decided to liquidate. T an of the company has ex- tended for nearly 100 years. It has been a factor in the textile ind of America. | When the stockholders of the Law- Roston at $52 a share. This spite of the fact that net qu sete of the concern were dee most conservative engineers tn |W worth $50 a share, regardless of any| value which the mills, machinery and| water-power sites might possess. $66 Offer Is Made. An offer of $66 : by a large operato: as a whale, but th ferred to wind up it was made falr ass share the net quick Little e ration was pald to the plant a ce their value 4n a donbtful factor. As these nssets we liquidation i A going plant St B, fronting more than one New FH:MVVX‘ concern, represents the lozing side of a fight not only against Sonthern competition, cheap power and non- | nnion labor. but against the changes | in style in wearing apparel and in the ! rd and southw d not an s where values for a individuals, are mor d. 1 ted instance, | as for some | than alive. | which have heen operated to 100 years have accumulate re cash and other Ty quick assets of narket value of | mpany teday Is | Over ‘and ahove | $ incinding one of | the most val water power sites | ere is no possibility at present of any move ty liquidate ‘this concern. The management obviously has a dogged determination to weather the storm of textile depres. | sion, although the stockholders have | had no returns on their investment | since 19207 Old age is held responsible | for many of the troubles of the New | England textile trade. It is being said | over and over that “an old dog learn new tri but the Am management | onfident that it js fll too old 10 anticipate the buying re nnrn | £ quirements of the public, | Other textile plants are not certain. | Still others are weighing th | tranefar of activities to ! States nearer the source of raw | terial supplies, closer the center of | population and with re lenfent tax regulations, against operatinz In the | face of increasing difficu - | old plants. Among thece of the woolen mills of P, - and | silk and ravon plants of New Jersey and Pennsylvania. The situation of some of the New | Bngland mills is indicated by the -de. | cision of the Lancaster Mills of Clin (ton, Mass.. to extend the usual vaca- | tion perfod from 10 days to include the time between July 31 and Sep. tember 16 this vear. Business with this company is better than with | many others, Its machinery has been operated at better than 60 per cent of capacity, and the yarn mill has been running 95 per cent. The com- pany has tried operating a Boston retail store with considerable success, and other concerns are watching olosely to see whether the elimination wof jobbers, wholesalers and middle men may serve to widen profit mar- gins. WE BUY First and Second Trust Real Estate Notes Secured on Improved Real Estate in the District of Columbia. Federal Security & Mortgage Company Morris Cafritz, Pres. 1412 K St. Moncy to Loan Secu dend of trust on real estate r“l"l“ tn!en;ll lnd "omu\lu‘om Janp In Any Amount on 1st—2nd—3rd Trusts We provide suitable and satis- factory solutions for your finan- clal problems. Immediate decl- sions and settlements. Yonu will find our charges tne lowest. Realty Loan Co. 1417 ¥ St. N.W.-M. 9411 Open Evenings = Fromot Action g Fll’lt Mortgage Loans Bowest Rates fll ln\-nnl and Commission her & Company, Inc. u 15th Street We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street ‘Thomas J. Fi Our experience extending over a ! ¥ Second Trust Notes Purchased Funds immediately asailavle n;‘ second REAL ESTATE LOANS ||| 300 e ANY AMOUNT 1 I v g "3 at i & (.mmny Stocks Bonds n 312 0dd Lots Carried on Margin Buck & Company —BROKERS— Fatablished 1916 312 Evans Building 1420 N. Y. Ave. NW. * Tel. Franklin ‘7300 Direct Private Wires to New York RESIDENCE LOANS AT LOW RATES FRED T. NESBIT Inve Announcement Soma vers special second _com mercial sties for in northwest “section two Sieet " fronta T4sal’ drier warehouses. may DPlanis. carages. storage. One’ special site containing 15.000 ft. with two street {ronts. Jos, A. Herbert & Sons 1013 15th St. N.W. ‘ Stocks GBonds 5 ‘Meh!man K Co. 1310 ¥ 8847 We have a liited amount of 1% First Trust Notes for sale in denominations of $100, $500, $1,000 AND UPWARD Secured on Real Estate in the District of Columbia Consuleratwn 61/ —in making an investment 2 (/] is the character of the or- First ganization through whom you Mortgage deal. For nearly 40 vears this Notes inmmtmn has * maintained a Convenient, osition of trust in Washington Srnuate of nsine . eireles, $100 and up 2 irel Und dem&m Founded 1887 ]”3 k Street-—Main 1016 period of Thirty-five Years insures your protection Percy H. Russell Co. 926 15th St. N.W. Oldest National Bank in the District of Columbia Open Until 5:30 P.M. Tomorrow for Pay Day Depositors Financial Security IKE all the good things of life. economic inde- pendence is not to be enjoved without initial effort and continued self-discipline. Jut financial security in the future is worth seli-imposed thrift now, and the college hoys and s whose aims are high will. at the outset make a practice of One Dollar banking something from their carnings. or more will open a savings account “Hundreds of Washington's successful men and women have with this one-hundred-and-twelve-year-old bank, sgrown up i service equally advantageous and vou'll find “Metropolitan” to you. Travelers' Checks for Vacationists National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,800,000.00 15th St., Opposite U. S. Treasury 112 Years Old Organized in 1814 TOMORROW'S WASHINGTON National Archives Building The Government has long needed a permanent building in which to keep and preserve all the valuable records which are now stored in various places of questionable safety. And the new appropriation bill provides for the erec- tion of such a building. And the site selected by the Public Buildings Com- mission is the square bounded by B and C, Twelfth and Thirteenth streets northwest. Although it has taken the Govern- ment a long time to find a safe place for its records, it has not been so with the thousands of investors who have purchased First Mortgages through Swartzell, Rheem and Hensey Company. Through fifty-seven years their money has been kept safe and secure. So, today, we offer yeu a secure place to invest your funds where they will return you 615 %. Swartzell, Rheem & flerlseyéo.. Morigage Bankers T2T15th. Street, V., WashinglonDC. 57 Years Witheut Loss to An Investor. B B T N D B DT STAR, WASHINGTON, D. | 4AGAETIETE "I 44T @ ETE 44T 4N e 4T e e e FINANCIAL. MONDAY, JUNE 14, 1926. Bethlehem Ste¢l Corporation . Secured Serial'5%, Gold Notes Due June 15, 1929 to 1932 Still aFew Left - 3 oxna ia 3 € But this special issue of First Mortgagc Notes, secured on the 6%% Amounts unique Foxhall Village homes, has sold with amazing rapidity. * °""°° 5 BQSS mPHELFS FOUNDED 1907 1417 K .Street—Main 9300 Issued for the purpose of retiring 7% obligations of the Company now out- standing. Thesenotes are to be secured by pledge of 54%, bonds of the Company, which at current quoted prices have an in- dicated market valueofapproximately 1409, of this issue of notes, Detailsonvequest A Third of @ Century's Experience If You Own an Apartment A1ex. Brown & Sons BALTIMORE Oldest Banking House in the United States 1424 HSLN.W. Phone Main 1055 _ The above etatements, although mot guaranteed, are believed to be accurate. let our experienced man- agement attend to every detail — leases, janitor provision, maintenance, rent collections and all the many items that only seasoned methods can attend to properly without losing money through lost time. B. F. SAUL CO. Main 2100 925 15th St. NW. Open Until 5:30 P.M. Tomorrow & Wednesday June 15th and 16th Why Do More Than 47,000 People Bank Here? {That's not such a big question as it may appear. One word sums up the ex- planation —it's SER V- 1CE TService developed by over half a century’s contact with the public—Service backed by large capital and sur- plus—Service that you can depend upon whatever the ex- tent or character of your banking needs. (Become one of us mow— PAY DAY’S again at hand. Deposits welcome in any amount. Same Rate of Interest Paid on Large and TkER Small Accounts NatlonalSavmgs&TrustCo. 59th Capital and_Surplus, $3,000,000.00 Oldest Savings Inststution in Washington Year Cor. 15th and New York Ave. There Are 120 Pay Days in Five Years of Hard Work IWhat will you have to show for them at the end of that time? By Regularly Saving a Little Each Pay Day and applying that on the purchase of a William D._Hoover First Mortgage Note DIRECTORS: wnnm:( Rr BLAIR V.IT Secured by Washington Real Estate Annual Return 61%% You will have taken the first big step toward Financial Independence CHURCH Yo & 3 Investment Dept. HANNON. & LUCHS 713, 15 and 17 14th St. Main 2345 'Af‘h«l""D.D"‘hh”'b<lbo B L e e e e e e L it ot iy o Pt ey S 3 Exempt from Federal, State, Municipal and Local Taxation $60,000,000 Ten-Thirty Tear Federal Land Bank 4%% Bonds Dated July 1, 1926 Due July-£51956 NOT REDEEMABLE BEFORE JULY 1, 1936 Intarest payable January 1 and July 1 2t Federal Land Bank or Federal Reserve Bank. Bank of Issue. Coupon and regi bonda (interchangeable) in denominations of $10, $300, $100 and $40. Redeemable at 100%and interest at any time on or after Principal peyeble atthe $5,000, $1,000, 1,1936. Supreme Conrt of the Untted Stutes has comatinutionalisy of the Act creating um.fl-—fmmmm?fl«asm s it i OPERATION: Ineight yearsof: nctiveopcndon,thc 12Federal Land Banks have been built up untiton April 30, 1926, their Capital was $55,166,340; Reserve, $7,562,500; Undivided Profits, $4,955,829; and Total Assets, $1,114,694,869. Every Bank shows a surplus earned from its operations. ACCEPTABLE BY TREASURY : These Bonds are acceptable by the United States Treasury as secar- ity for Government deposits including Postal Savings Punds. LEGAL FOR TRUST FUNDS: The Federal Farm Loan Act provides that the Bonds shall be lawful investments for all fiduciary and trust funds under the jurisdiction of the United States Govern- ment. They are eligible under the laws of many of the States for investment of all public and private funds and have been held eligible for investment by savings banks in 37 States. The holdings of the United States Government in the capital stock of the Federal Land Banks have been reduced from $9,000,000, at the time of the inauguration of the System, to about $1,200,000, as of April 30, 1926. During the same period the Farm Loan associations acquired ly $53,000,000 capital stock, part of the proceeds of which was used to retire stock owned by the Govern- ment aé required by the Farm Loan Act. The United States Government has purchased and now holds over §100,000,000 Federal Land Bank Bonds. This amount will shortly be reduced by not more than $40,000,000 4%% Bonds to be taken down from the United States Treasury with the proceeds of an eqluvllent par amount of 4%% Bonds included in this offeting. The saving to the Federal Land Banks resulting from this transaction will be about $100,000 per annum. While these Bonds are not Govern- ment obligations, and are not guaranteed by the Government, they are the secured o Banks operating under Federal charter with Governmental supervision, on whose the is sepresented. tions of direction At therequest of &mh!—-h—dw snd on behalf of the m—*&-u Price 101% and to yleld over 4% — Alex. Brown & Sons Harris, Forbes & Co. Brown Brothers & Co. 'Lee, Higginson & Co. The National CityCompany Guaranty Company of New York apon information and advice which we belivwe tvbe sewrats.