Evening Star Newspaper, December 30, 1926, Page 11

FINANCIAL. PROFITS STABILITY |5 NEW TRADE IDEA Protection of Instaliment Sales Aim of New Firm Formed in Maryland. BY J. C. ROYLE. Epecial Dispatch to The Star. NEW YORK, December 30. — The Kkeeping of profits as well as the mak- ing of profits ctor in t ion of the liscount Corporation with Al of $31,500,000, which will aid in financing conc sngaged in in- stallment selling, ey posed between the and Schulte Stores ownership_in the Union and U Tobacco Corporation, a $120, holding concern. The formation of the American Re- discount Corporation followed ac- knowledgment of the f: stall- ment selling has t anent place in Ame business his policy of sales distribution had many opponents who have tedly pointed out the dangers which it contains. Removal of of those perils and stabilization of op erations the new through and some cern. Practice Ts Spreading. has spread into it of rnmmudl of other e volume of lously estimated be 00 and $10,000,000.- 000 for the last y any merchants bave been asking anxiously what would happen should there come a slight slump in_employment consequent diminution” of power. Advocates of the plan declare, on the other hand, that since there is an |} average cash payment of 26.6 per cent made on each purchase, with further ents monthly, at no time during | i @-year is there more than 421 per cent of the sales outstanding. See Practice Advisable. The interests behind the American Rediscount Cor ion _deciare they are conv. liment selling ary, but that ions their corporation will endeavor to limit abuses which might result in losses to the public, banks and credit finance corporations. The coropration will rediscount paper for unance corporations and act asure along the lines pursued deral Reserve system. The cigarette and cigar manufac- turing companies have had a splen- umption of cigarettes 12 per cent as The cigar and SmoKing s have not ad- vanced so rapidly, but are in better case than a y 0. There is every indication that growth of sales of tobacco products will continue in 1927, although at a lower rate than 12 per cent. But distributors say the mar- gin of profit is not extensive and that price wars or. uneconomic man- agement e likely to wipe out the alance at a moment’s notice. profit ba Economy in Sales. The impression which prevails tol |l ® widespread degree in scores of lines | | of endeavor also exists in the tobacco |l Vusiness, namely, that it is safer and more profitable to stabilize prices at a reasonable level and cut costs to mssure profits than to advance prices to high levels and perhaps discourage consumptive buying, Costs today are probably under bet- ter control than ever before. The yange of commodity prices has been slightly downward as compared with CONSULT US —for_sato investmens of your surplus funds. {5,tpe future by tavesting wm. H. Saunders Co. ne. s Founded 1857, 1433 K ot. 6‘/’2% First Mortgage Notes EXECUTIVE || Accountant, with 20 years experience desires to make | an investment and become active official. ! Tnterviows wfidence. Address Box { 34-Z, Star office. Office and Sales Manager, Investments For Conservative People Municipal Bonds N Exempt from all Income Taxes Interest 5% to 67 BANKERS BOND & INVESTMENT COMPANY 734 Southern Building N Firsc Mortgage Serial Gold Bonds N Provision made for payment N of District of Columbia Five Mill Tax MATURITIES: 2 TO 12 YEARS | AMERICAN BOND & { MORTGAGE (0. | | Established 1904 Incorporated CAPITAL & BURPLUS OVER 88,800,000 17th and H Streets, N. W. Washington, D. C. Telephone: Main 884 | Please send me, without obligation, N e information regarding Bonds you are offering. resent the main objects of | = and a f buying | | ,a year ago. This is the one factor which is counted on most heavily to maintain prosperity during 1927. So long as there are no widespread and costly labor disputes, so long as the efficlency of man power and ma chinery s high and price movements are not violent, it is felt by the ma- | Jority of financiers that prosperity can be maintained. An executive of one of the biggest jobbing houses in New York tomo row will find his salary practic doubled. When asked how he doubled his value he said, * way I could earn my salar save it and more. And Il have to keep on doing il Are You a Sucker? Too many people put their money in day dreams and wake up broke. Never put your name on the dotted line until you have inquired of some one in your bank what he knows - | about some stock issue that is of- fered to you privately. i e e EARNINGS INCX{EAQE NEW YORK, December 30 (#).— Net earnings of the Western United Gas & Electric Co. for the year ended , or at the rate of 2 the annual interest rate on cent first mort bonds STRIKES NEW OIL NEW YORK, December 30 (#).—— Continental Ofl 'Co. has struck oil one mile south of its’ present produc: tion on the lease juintly owned with the Santa Fe Corporation on Rattle- snake Dome, northwestern N times 5% per We will gladly receive and give prompt attention to applications for ans on Washington Real Estate Current rates of inter- est. Should you have Money to Invest —we can also take care of you. Our experience, ex- tending over a period of ‘Thirty-five Years —insures vour protection. | Percy H. Russell Co. | 926 15th St. N.W. i Ready - Funds We will arrange a il building loan, or for it the purchase of prop- 'I erty—or the refinan- | cing of a present trust —without any delay if the sound. proposition is The application will have our prompt con- sideration — and the loan, if made, will be at lowest prevailing rates. Get in touch with the manager of our loan department. ment? Start the New Year itan” thrift-worker. Organized in 1814 THE EVENING STAR, WASHINGTON, D. €, THURSDAY, DECEMBER 30, 1926. FINANCIAL. ! PRICES ON PARIS BOURSE. PARIS, December 30 (#).—Prices were heavy on the Bourse today. | Three per cent rentes, 55 francs 60 ((‘nlunofl e on London, quoted COKE IS LOWER. December 30 (4). is down quarter deliv ing from | use provid cents maintained at POUI.’TRYV MARKET FIRM. CHICAGO. December 30 (P).—Toul- rs; fowls, 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 Years, 5 Years, 10 Years Rowlle . T RANDALL-H. FAGNER:& COMPANY Incorporated MORTGAGE LoaN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Homes Start 1927 with a Definite Investment Plan You can easily build an indepen- dent income by setting aside | regularly every month a definite amount for investment. The | amount may be as large or as | small as you can afford—it’s regu- | larity of investment that counts. | Let us send you full information | | about an Investment Plan by | which thousands of men and women are successfully and easily | working their way toward finan- cial independence. | | | The coupon is for your convenience » n:hlnxmn 1 { 803 Wilking ’\\‘( | Pl:na .md wuh«mebu;-um full informa- | tion abouta definite Investment Plan for 1927 | Name. — | ll o A DO S G. 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OLDEST National Bank in District of Columbia Further Yield From January Funds {You can realize additional income on January Funds by (lq)mmno your Interest Coupons and Dividend Checks in OUR SAVINGS Why keep such funds idle, DEPT. pending re-invest- fYour Cash Bonus and Xmas Gift Checks will also make a good nucleus for a savings account. by becoming a **Metropol- 3% on Savings OPEN UNTIL 5:30 P.M. TOMORROW AND MONDAY, JANUARY 3rd, FOR PAY DAY DEPOSITORS’ CONVENIENCE ——National—; Metrop Bank ... 15th St., Opposite U. S. Treasury Capital, Surplus & Undivided Profits Over $2,000,000.00 olitan 112 72777 Johnson and Adams Loz Annocunce their removal to new offices in the Commercial National Bank Bldg. G Street at 14th . Continental tnsual!y Company Continental Assurance Company Glens Falls Insurance Company Stuyvesant Insurance Company California Insurance Company Importers and Exporters Insurance Co. Transcontinental Insurance Co. 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Street, N.W., WashingtonD.C. 57 Years Without Loss to An Investor Corporation Financing Commission Orders 1508 H St., N. W. WASHINGTON James Donald Cassels Manager Listed stocks and bonds bought and | sold on commission. Accounts carried ‘on a conservative marginal basis. We invite correspondence on securities ' HARRIMAN & Co. | Members N. Y. Stock Exchange | 111 Broadway, New York WASHINGTON OFFICE 729 15th St. N. W. Telephone: Main 1603. N R =N Stick to proven facts— People inexperienced in Investment so many times are unwisely influericed by er- roneous statements of promoters of doubt- ful stocks. It is always well to remember that a half truth is more harmful than a whole lie—particularly whete investment of your savings is concerned. Three factors maintain the desirability of our FIRST MORTGAGE NOTES. They are Safe Dependable and Remunerative [SHANNON;: &LUCHY Mortgage Investment Department 713, 715 and 717 14th St. Main 2345 Open Until 5:30 P.M. Tomorrow and Monday, January 3d. 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Same Rate of Interest Paid. on Large and Small Accounts Safe Deposit Boxes at Nominal Rentals National Savings & Trust Co. 5941 Capital and Surplus, $3.000,000.00 QLI Oldest Savings Institution in the District of Columbial Year Cor. 15th and New York Ave. Qurn Dour JANUARY INCOME INTO INTEREST- BEARING BONDS AVE you the time, data, and special training necessary to gauge the relative values of securities to meet your requirements? OU can face the new year with confidence if you know that vour investments have been carefully chosen. INCE 1883 we have been specialists in advis- ing those secking a dependable income. E shall be glad to offer suggestions to strengthen your investment position, and to assist you in placing current funds to the best advantage. By consulting us you incur no obligation. CRANE, Parr1s & COMPANY Investment Bankers Since 1883 823 15th Street, N. W. Telephone, Main 593