Evening Star Newspaper, December 21, 1926, Page 15

FINANCIAL. RADID AND WIRE TRADE EXPANDING: Communication Firms Are Enjoying Unprecedented Prosperity at Present. BY J. C. ROYLE. the telegraph index figure had risen 384. ce 1914, the year most generally a basis of economic compari- son, the figure for national telegraph- fc business increased from 152 to 384. ‘thing which helps ome form of apid communication or encourages it helps and encourages all the others.” When the wide public interest in radio was pointed out to Western Tnion officials and they were asked whether their business had increased, and what effect radio had exercised, said: review of the company’s revenue of 1919 discloses that with the ex- ception of 1921 each vear has shown b e in commercial telegraph nt volume is,nearly it was in 1918. The - of the telegraph THE EVENING STAR, WASHINGTON, D. ¢, TUESDAY, DECEMBER 21, SOAP MERGER 0.K.'D EXPORT GASOLINE UP. .NEW YORK, December 21 (#).— The Standard Oil Co. of New Jersey has advanced the price of gasoline for export one-quarter cent a gallon in cases, to 27.90 cents. NORTH CAROLINA AHEAD. North Carolin tucky this yvear tobacco-producing & timates announced Department of North Carolina’ 190,000 pound ember 1 has won from Ken- title of prémier Revised es- erday by the griculture places production which at t pound m ued at $103,802,160. duction this vear was 874,880,000 pounds, with en average farm price December 1 of 11.4 cents a pound and total crop value of $42,736,320. MRS 3 i WORKERS GET SHARES. NEW YORK, December 21 (®).— Sixty thousand employes of the United States Steel Corporation, it fis esti: Il share to the extent of 000,000 in the 40 per cent tock dividend, exceeding recently authorized. The stoc ¢ these workers is figured at around 000 shares. The exact of employes and the extent of their participation in the expected to be made known KANSAS CITY, 21 (®). — Consolidation of the Palm- olive Soap Co. and s0ap manufacturers of this city, was approved by stockholders of the latter company today. The merger will be effective January having been given by stockholders of the Palm Olive concern. Annual sales of the new corpora- which Money Secured by first deed e alling nterest and commigsion, oseph 1. Wel 1926. Kans., December SAFE and DEPENDABLE Collateral Trustee Certinf;i_cates THE NEW ENGLAND INVESTMENT TRUST, INC. Federal National Bank of Boston, Trustee Peet Bros., laundry 1, approval already nufaciure both are expected — pa on e " e to Loan fork Bio BichuncsSombraclnk evéry of trust on raal estate. || U. S. Steel Amer. Tel. & Tel. cast | | General Motors * _Amer. Tobacco W. Consolidated Gas Eastman Kodak Standard Oils N. Y. Central Kennecott Copper Atchison K. R. and 7 d _est; Over 8Y2% Yield || /| Continental Trust Co. 14th and H Streets Capital $1,000,000.00 Checking Accounts Savings Accounts Foreign Exchange Commercial Credits Travelers’ Credits FINANCIAL. Time Deposits Listed stocks and bonds bought and sold on commission. Accounts carried on a conservative marginal basis. other ol ablished corpora- vhich include in_ their manage- Travelers’ Cheques Special Dispatch to The Star W YORK science and improve and equipment in the las n sulted in the o the field in which they function. the con- clusion draw e most im portant tele shone and cable compa have just completed a survey of their business for the past vear and its outlook for the future. Radio service, radio telephone de- velopments and’ extension of the air mail have been features of the de- velopment of communication in the last year, but instead of cutting down the business of the telegraph and cable companies, which use wire communication, they developed & huge number of new customers and have increased the use of all means of sp: communication by the Public. : Follows Growth of Nation. D earances €rom 1905 he total tele- graph busin cdease in tel has followed communication y and directly the growth in this coun- try. Last vear the index for bank clearings, which had been put at 100 in 1905, had increased to 358, whil Docember 21.—De- | i small part to intensive mer- ng of the service. Radio Developes Business. les, the same develop- t [ ment progrs has been foMowed, but not w radio has growth. It is a well known fact, how- e that the radio has developed as taken business. “Before the new high speed per- malloy cable to the Azores was laid, ||| all Italian traffic went over the Norsh Atlantic cables via London. The di- n of that traffic only temporarily | sed the traffic on the North At {lantic cables, which is now greater than ever before. In the meantime the new Italian cable traffic has ex- the improvement in radio , radlo telephone, radio trans- of pictures and radio tele- vision, American telephone and _tele- graph companies are going ahead full vith their program of wire serv- nsion, which are outlined 25 vears ahead, confident that new devices will only make more custom- ers for all services concerned. _WOULD BAR JUTE IMPORT. A bill to prohibit importation of jute and jute products was introduced yes- terday by Representative Allgood, Democrat, Alabama. Capital & Surplus $3,000,000 OW about an Interest-Earn- Real Estate Loans on —Business Properties —Apartments —Office Buildings Our Real Estate Loan Department is fully equipped to give prompt and satis- factory service on LARGE LOANS. Consultation Invited HOME OWNERS HOME FURNITURE bigation. have'to_your '""""'i"l. r. 8819, ol ment"the highest technical and Anancial skill available. N oklet—“Profitable _Investment ugh Diversification:” containe infor- of vital Interest to the demands _safety. Eo . Send for your covy tod [oMFAN oan Co. l'r to §200 within one day. On furnltare up'to"ST18 i two days. 8 Interent wnd brokerage. "X anD red tape We take 2nd, 3rd or 4th trust. Bring in what pa) nn:‘ you Real Estate Small Furniture Loan Procurement Co. 702 Distriet National Bank Blde. [nvegTMENT Secumities ~an > e WASHINGTON, D.C. Our Financial Experts Specialize Your Individual Case HATEVER your fnancial problem may be, we can help you make a profitable decision re- . ‘gurding the establishment of A Fi- nancial Surplus and the Investment of Capital. & :Never in the history of our busi- ness has any investor lost a penny in capital or interest through invest- ment in our First Mortgage Securities Investment Securities Administrator, Executor | WOODWARD BUILDING || Continental Trust Co. Capital $1,000,000.00 Acceptance Credits Collections Real Estate Loans Collateral Loans securities Corporate Trusts Individual Trusts Safe Deposit Boxes: 14th and H Streets The New York Life Insurance Company Offers First Mortgage Loans On Improved Real Estate in the District of Columbia. and Nearby Suburbs in Montgomery County, Maryland 3 Years, 5 Years, 10 Years S Bk We invite correspendence e ' HARRIMAN & Co. | Members N. Y. Steck Exchange 111 Broadway, New York WASHINGTON OFFICE 729 15th St. N. W. Telephone: Main 1603. Office Buildings I | ing Account at this old bankfor Xmas? Doesn’t that sound like a sensible gift for Raxnpary -H. HAGNER& COMPANY Incorpor MORTGAGE LoAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 W'EAVER -BR! REALTORS 809 15th St. NW. Main 9486 a growing son or daughter? 'fWe know of no more helpful Xmas book than a bank book. - { Depositsinvited in any amount —same rate of interest paid on large and small accounts. & Trust Co. EIRST PROTECTION FOR GIFT CHECKS Choosing a suitable form of investment for Christmas Gift Checks with outstanding satisfactiop by our 6%:% Backed by a Third of a Cen- tury o every investor, these preferred A Third securiti of a that ch Century Without a Loss full. In Amounts of $250 and Up B. F. SAUL CO. Main 2100 THERE solutely safe real esfate. The services of this entire organiza- tion assure the prompt, sched- uled payment of interest —in IS NO SUBSTITUTE FOR SAFETY MORTGAGES is a question answered FIRST MORTGAGES f successful service to es give every dollar of eck the protection of ab- 925 15th St. N.W. Provident Mutual Life Insurance Company Funds to Loan In Small or Large Amounts at 593 Per cent. WM. H. SAUNDERS CO., Inc. Realtors 1433 K St. NW. Main 1016-7 Five Mill Tax MATURITIES: 2 TO 12 YEARS \ AMERICAN BOND & MorTGaGE (0. Batablisbed 1904 Incorporated | Capltal & Surplus Over $9,000,000 17th and H Sereets, N. W. A Washington Office J].M. DaicEr & Co. e {Main 10344} IO facilitate the handling of our Washing- ton business, we shall open offices Jaauary first in the Woodward Building, H and Fif- teenth Streets, N. W. with J. P. Daiger, vice president of the agency, as resident manager. On the same date, Stan Executive Engel, formerly of Lon- don and more recently Staff of New York, will be- CHAS. C.BALDWIN|| €ome a vice president of the agency and general manager of our Balti- more office. J. M. DAIGER 1.P. DAIGER The agency provides a national and local adver- tising and merchandis- ing service, chiefly to in- vestment bankers, mort- gage companies, banks and trust compaanies. It is one of the largest fi- nancial agencies in the nationaladvertising field. J- M. DAIGER & CO.1xc Financial Advertising General Advertising ROBERT E. DAIGER STAN ENGEL GEO. T. JENKINS JOSEPH M. LALLEY H.E. WHITE 1201 ST.PAUL STREET * BALTIMORE - MARYLAND THE BALTIMORE TRUST CO. BALTIMORE - MARYLAND eAnnounces the appointment of MESSRS. STORY & COMPANY 812 SEVENTEENTH STREET Franklin 4100 as its Washington Correspondent Jor the sale of Real Estate Bonds secured by GUARANTEED First Mortgages $650.000. The Washington Consolidated Title Company Twenty-Five Year 6% Collateral Trust Gold Bonds Dated December 1, 1926. Authorized $1,000,000. Due December 1, 1851, Outstanding $650,000. Interest rayuble June 1 and December 1 at the office of the Trustee, Washington, D. C., without deduction for the normal Federal Income Tax not in excess of 2%. Coupon bonds in interchangeable denominations of $1,000 and $500 registerable as to principal only. Redeemable as a whole or in part on any interest date on 30 days notice at 105 and interest. The District of Columbia 5 Mills Tax, Maryland 4% Mills T ax, Pennsylvania 4 Mills Tax and the Virginia 5% Mills Tas will be refunded upon proper application. Application will be made to list these bonds on the Washington Stock Exchange AMERICAN SECURITY AND TRUST COMPANY, WASHINGTON, D. C., TRUSTEE. Myr. Eugene A. Smith, who will be President of The Washington Consolidated Title Company, sum- ‘marizes his letter as follows: The Washington Consolidated Title Company will own 100% of the capital stock of The Lawyers Title Insurance Company, a majority of the capital stock of The District Title In- surance Company and also a majority of the capital stock of The Washington Title Insur- ance Company. The business of the subsi- diaries of The Washington Consolidated Title Company consists in the furnishing of certifi- cates of title on District of Columbia real es- tate. The subsidiary companies have been engaged continuously in this business for more than 80 years and are issuing a very large percentage of the certificates of title issued in Washington, D. C. Owing to the steady and consistent growth and real estate develogment that has taken place in the Dis- trict of Columbia during the last 30 years and which is still continuing, the field for the ac- tivities of the companies is one of the most fertile in the country. The population of the District of Columbia has increased from 381,- 069 in 1910 to 437,571 in 1920. The estimated population for 1926 is 526,000. 1 ‘The information and statistics contlll\qfl in thi These bonds will be the direct obligation of the Company and will be secured by the de- posit as collateral with the Trustee of 100% siranie Gorapat i msoriy o6 the i mpany, the m of ital stock of The District Title Insuranceu(?om- Legal matters in connection with the issuanc of Mesara. Covington, Burling & Rublee, Washingt & Hall, of Baltimore, for the pany and also a majority of the capital stock of The Washington Title Insurance Company. None of these companies has any bonds or preferred stock outstanding. The bock value of the stocks to be pledged under the in- denture securing these bonds is approxi- mately 150% of this bond issue. Equity: These bonds will be followed by $350,000 First Preferred 7% Cumulative Stock and 10,000 shares Common Stock. Earnings: Gross earnings of the subsidiary companies for the two years and ten months ended Octo- ber 31, 1926, as certified to by Ernest E. Wooden, Certified Public Accountant, were $1,350,285.13, and net earnings for the same period $506,904.35. The amount of net earn- ings after Federal Income Taxes applicable to the stocks to be pledged under these bonds was $854,830, which is approximately 8.2 times interest charges on these bonds. For the ten months ended October 81, 1926, such net earnings were at the annual rate of more It)};ag 8.21 times interest charges on these nds. \ Management : The management of the subsidiary companies will remain in the hands of those who have 80 u'lxcceasfully conducted the business in the pas ¢ of these bonds are under the supervision D.ks’n..ud Messrs. Piper, Carey These Bonds are offered, when, as and if issued and accepted by us, subject to approval of our Counsel. Price 100 and .Accrued Interest, to Yield 6.00% G/LLET & Co. ' T BANKERS Keyser Building, Baltimore, Md. 1512 K Street N.W.,. Washington, D. C. Washington Easton, Md.SL' Telephone Main 2460 Is advertisaraant are not guaranteed, but have b btai which we cofisider reliable. T el b s