Evening Star Newspaper, January 7, 1927, Page 15

Page views left: 0

You have reached the hourly page view limit. Unlock higher limit to our entire archive!

Subscribers enjoy higher page view limit, downloads, and exclusive features.

Text content (automatically generated)

FINANCIAL, POWER UTILITIES 10 SPEND BILLION Truly Electrical Year Is in Prospect, Companies’ Bud- gets Indicate. BY J. C. ROYLE. Special Dispatch (0 The Star. NEW YORK. Janvary Klectrical energy amounting to nearly 75.000, 000,000 kilowatt hours will he trans. mitted and sold to about 22.500.000 customers in the United 1925, This I8 & conservative o made by leaders in the electrical field. Electrical public utility coneerns are preparing to spend hetween § - 000,600 and $1.000.000.000 in expan- sione and bettermenta to meet those ‘requirementa. Already announce- ments of hudgets for improvements in the present vear are coming in from all sections of the country. For example, the Southwestern Rell Tele phone Co. today announced it planned , %0 spend $32.838,000 in improvements this vear. When the transatiantic radio tele phone service went into operation this morning between New York and London it marked only one new phase of wire and wireless, electrically pr duced communication. The telephone. telegraph and cable companies are Ppreparing to spend hundreds of mil Hons in developing this field of effort They are developing not only plants, but men. Rush to Use Phone. Whila there was a_tremendonus rush tn use the transatlantic radio tele- phone service for the first time, ex- porters and importers in constant "touch with Europe say they will not relv entirely on the radin phone for auick deals until they can he assured of “a line" without delay. They are now getting remarkable service by eable and radio telegraph. One firm hurrying through a deal recently sent A cable to Burope and got a reply in 12 minutes. The tremendons volume of wire and radio messages is not confined to the United States. Data just issued from Ottawa shows 11.436.884 telegrams were transmitted in 1926 in Canada at demts A cost of $11,520,323. Ontario was the heaviest user of the telegraph. T word “please” added several million #vords to the total and cost senders at least $100,000. It began and ended many messages and was employed in business communiecations, love mes- sages and demands for payment of bills. Want Klectrical Engineers. The utility, electrical manutacturing #nd communication companies all recognize the value of technically trained electrical engineers and they want college graduates, but they also realize the disadvantage of a purély technical training without practical experience. Some prominent concerns are taking selécted groups of stu- REPORT OF CONDITION The East Washington Savings Bank At Washingion. in the District of Columbis. f§,ihe close ot business”on December 31 ESOT . & Loans $081.367.30 | Overdrafis, unsecured 157 Other stocks. bonda, securi- Lits.. ete.. owned 161,20 . Baking house. $21 164 rniture and Axtures. 805, % 25.000.00 64.962.08 . Amount. due from Stath banks. bankers and_trust companies in the United &lates (otner than includ- 3.108.79 Canital stock ‘paid in Surplue fu . A Undivided orof Rime de ORI subleei 10’ 7e: serve. (payable after 30 dawe. or subject to 10 or “more notice, nd nostal savings) time denosits . 1.013.449.33 of time depokite suh- jert to reserve. ' ttem 8.0 S1.013.449.33 R E Dintrict «.1 (‘nlumhln s ES A 'McCARTHY. secretars- trotnurar ‘o1 (hé Abovemamed Dank do ol emnly awear that (he abovh Matement is trus 10 the best of my knowledes and belle HAI & MCCARTHY arv. Subscrited and eworn to betore me this das of Januars, 1837 CLARE; OHO 1 (Seal.) DO ‘Notars Bumne, B, Correct—Attest vn: mg\ e LEWIQ(F‘L vr . oth, Tota "Thistees REPORT OF 'rl-xl“ ;. CONDITION McLachlen Banking Corporation AL xrumnmm in_the District of Columbia, 1 the close of businest on December 31, 1926, RESOURC « and discounts, in- ding _rediscounts. ptances o hanke and foreign hiis of exchange or drafts nld with indbraement of this hank J Overdrafts. unsecured Other bonds. stocks. seci- rities. et . Furniture from™ national 105,780 44 State and in the iother item nks. - Amount " due o banks. b . trust -«vmu-nm Sta n-m included in 10 20817 91 . Checks on other banks in The same city or fown as reporting bank Togal of " tems 11, 13..$200 470 09 . aCnicks’ and draits . on banks (including Feder. A Reserve Bank) locat ed outside of ety or Town of reporting bank £4.912.74 Total T.IABII )‘r‘l".l < ‘paid in $130.000.00 al 150000 00 fd 230,684 99 b Reserve for in. Terest and Fond 8130 07 hecks ant hecks 6 7 Certifi 7w gl p-m-m deas subjert pomts 29. b,m\m“. Jdevonts mubject ota ‘of femand deposits bther than bank depos fral suniect to rew Jtam "70.. . $ABT 48007 Time depontin mublect 10 serve (DAYADIe after S ars. 6r subject 10 30 days or more notice and” postal aavings) riificates’ st depouit (oth 35. Certi M he W for”money bor payable within %eSiE, cashier ot s solemnis sweat that subscribed and sw v of January ) JOHN M. Me LEX \’\Imt P-m ir, D. € Qerrect—Attes peie :‘h FR P ‘4 Eftl\ @\h* §§LI§AK\., Dicectora THE EVENING STAR., WASHIXGTO N. D. C., FRIDAY, JANUARY 7, 1927 from the larger technical 'achools and training them in actual practice at the same time thev nrpl heing given technical instruction by f heir professors. One college maln- | tAins A corps of instructors At the | pients where this is done. | )ilectrical equipment manufacturers have a tremendous volume of orders | now on their books. Industrial elec tric nwtor sales have heen very heavy recently. There are now more than 250,000 ¢lomestic clectric refrigerators and 85,09 commercial refrigerators in use. Faym electrification has made decided »trides and this has opened | a new fieyh for laborsaving devices European i rkete merican slec. | tric refrigestavors are developing at # Continental Trust Co. 14th and H Streets Capital $1,000,000.00 Checking Accounts Savings Accounts Time Deposits Foreign Exchange Commercial Credits Travelers’ Credits Travelers’ Cheques Acceptance Credits Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes | remarkahle xate. | | | WILL I'"}'CLAIM LAND. NEW ORLEWNS, January 7 (3pe clal).— The 8t W harles lake fron' Arainage district of St Charles Parvish will construct an @' ght-mile: sea wai along Lake Poncia rtrain and will drain the land froruing the wall and bufld roads. Thew cost will be $3,000,000, % % o N. &# W. TRAFFIC Y'EAVIER. NEW YORK. Janu T, Freight traffie on th Norfolk ana Westarn in December yose! to 131,284 earloads from 128,456 in \lL'ecember, 192 A | Your Banker Rnows. \ 1 When In doubt about a& soeurity consult your hanker. It is equall’ a8 | much his interest as yours to pro\ect | your savings. You trust him with| your deposit: why not trust hth® | with your investment problems? - | -—_— Continental Trust Co. 14th and H Streets Capital $1,000,000.00 Reserve District No. 5 REFORT (n-\' (\\m'rm\ Lincoln Natnc\nal Bank At Washington. in the District or\Columbia, nt the Close of Business on Decem.w 't 21, 192 Charter No. 4247 RESOURCE:, Loane and disconnts, including red: acceptances of other hanks and foreign hills of exchagge or drafts, sold 2 with indorsement of this bank . N 834 1"3 2. Overdrafts, unsecured . 6 3. U'. & Government sécur N ‘ = h‘ b, a. Deposited to secure circnlation ( wds, par_value) .o $120,000.00 b."All other United &taies Government securitves (including premiums, if any) 1A wints, . Other honds, stocks, securities, etc., owned . © Banking house. $145.248.53; furniture and fixtures, § " Renl esiate owned other than banking house . © Lawtul reserve with Federal Reserve Bank . " Cash in vault and amount due from national banks . . Amount due from State banks, bankers and trust r.\'nn!mnn = A the United States (other than included in items & .q« 19). | Exchanges for clearing house Checks on other banks in the same city or bank (other than item 12 Total of items 10, 11, 12 and 13 14. a Checks and drafts on banks (including Pfdil‘fl\ Reserve B flk’ Jocated outside of city or town of reporting bank . Redemption fund with U. S. Treasurer and dus from U Treasurer . . Other assets LIABILITIES. §400,000.00 Capital steck paid in : 00.000.00 Surplus fund . . a Undivided profits . Circulating notes outstanding 4 Amount due to Federal Reserve Bank ld!f’rr@d credits) . Amount due to national hanks Amount due to State banks, bankers and trust companies in the United States and foreign countries (other than Inrlum\d in items 24 and 23) : 27, Certified checks outstanding . . Cashier's checks outstanding Total .of items 24, 25, 26, 27 and Demand deposits (other than bank de serve (deposits payable within 30 days): 29, Individual deposits subject to check . Certificates of deposit due in less than 30 davs (other th money borrowed) ¥ . Dividends unpaid ($16,000 payabie Janvary i. 3 Total of demand deposita {other than bank deposits) subie: 16 reserve, itéms 29, 30 and 33 $2.638,767.32 Time deposits subject 1o reserve (payvable after 30 d: subject to 30 days’ or more notice, and postal sa Certificates of deposit (other than for money borrowed) . . Other time deposits ......... Total of ((m! deposits 35 and 43. Rills na\nhle flm‘ludlnz all obliga rowed other than rediscounts) : P $292. uz 17 ok ey $7,666,192.33 Distr! m nr Columbia, s JAS. A. SOPER. cashier of the above-named bank, do solemnly swear that nhe a\m\e statement is true to the best of my knowlédge and belief. JAMES A. SOPER, Cashier. Siibscribed and sworn to before me this 6th day of January, 1927 HELENA D. REED, A\hlar\ Public. . W. CHAS E. DAVIS, R. A. DORE, ATLEY V. GRIF' LEHOY W. HERRO) H. T. OFFTERDIXG 8. C. REDMAN, Directors. Reserve District No. 8. RFPOY‘T OF O‘OHDITH’)N Columbia Nahonal Bank At Washington, in theé District of Columbta, at the close of business on December 31, 1926. RESOURCES. 1. a Loans and discounts. including rediscounts, acceptances of other banks and foreign bills of exchange or drafts, sold with indorsement of this bank . 2, Overdrafts, unsécured . -7 8. Government securities owned: a Deposited to secure eirculation ( par value) . b ANl other United Hiates Government securities (including premiums, if any) 20 49 Charter No. 3625, $250,000.00 3 458,321.49 Other bonds, s . Banking house, $73.336; lumnur- and Axtur Lawful reserve with Federal Reserve Bank ..... . Cagh in vault and amount due from national banks " Amount dus from State banks, bankers and trust companies in the United States (other than included in items 8 and 10) 2. Exchanges for clearing house . 13. Checks on other banks in the bank (other than item 12) .. Total of tems 10, 11, 12 and 13 . 14. b Miscellaneous cash items .. Redemption fund with U. S. Treasurer and due from U Treasurer me ¢ Total . $4.945,913.67 LIABILITIES, sesane $250,000.00 Capital stock paid in 400,000.00 . Surplus fund a Undivided profits . ¢ Less current expenses paid Reserved for taxes, interest, etc., accrued Cireulating notes outstanding Amount due to Federal Reserve Banks (deferred n»rm Amount due to national hanks ... Amount due to State hanks in the United States cluded in items 24 or 25) certified checks outstanding _ Cashier's checks out Total of items 24, 2 Demand deposits (other reserve (deposits p Individual deposits =ub, Certificates of deposit due in less than an ‘davs (ovh-r than tor money ‘horrowed) . Dividends unpaid 2 Total of demand der (ather than bank deposits) subject $ 30 and 33 ..$2.541.507.23 Time deposits subject to reserve (payable after 30 days, or subject 10430 dave' or more notice and pu-m savings): Other time deposits 36 e . Postal savings deposits Total of time d»punu; subject to reserve, 37 and 38 ... o 1,796.02 516,226.38 Gn}m hank deposite) subject to within 30 day 2,518,669.83 15.,085.00 7. items $801,399.62 Total . City ..r Washington, Distriet of Columbia, ss.: nmp.n lhnl the above'statement i true to the hest of my knowledge and belief. FRANK J. STRYKER, President. Subseribed and sworn to hefore me this 6th day of January. 1927, (Seal) JOHN W. SCOTT, Notary Public. Correct - Attest HARRY BLAKE. RGE M. LEIMBACH, SPH H. MILANS W. CLARENCE DU H. MILLI L. WHITING ESTES N ER C. FENXTON FADELEY, WALTER 8. PM‘I‘T Jr, ALBERT F. FOX, B. FRANCIS 8AUL. ERNEST C. GUY OH]N—-N.-SWA-RTZELL, DAVID J. KAUFMA! Directort $4,948,913.67 ANK J. STRYKER. president of the above-named hank, do solemnly HOME OWNERS LOANS$ HOME FURNITURE l‘l to £200 within nnr day. On furnlture upfo K118 in e dage: A% infarent have to_vour properir. Real Estate Small Loan Co. Furniture Loan Procurement C: 707 Disteict National “wE” Keep on Hand For the convenience of clients, a limited amount of Gilt-Edge First Mortgage Notes in amounts of $100 up bearing 6'- . interest Start the New Vear in the Direction of Thrift BUY AN INVESTMENT safer— onr No form of security Few as safe CHAS. D. SAGER 924 14th St. N.W. Loan Main 36 Department Listed stocks and bonds bought and sold on commission. Accounts carried on a conservative marginal basis. We invite correspondence on securities 'HarrimMaN & Co Members N. Y. Stock Exchange | 111 Broadway, New York WASHINGTON OFFICE 729 15th St. N. W. Telephone: Main 1603. 7% Mortgage Bonds Secured by busi- nelss properties. Phriced to yield better than 7%. Martow-Beech Corporation 1615 Conn. Ave. Pot.\6167 Money to Loan ured by first deed of truat on raal estats. Prawailing_ interest and commi ot iattea | LOANS by b We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate . Current rates of inter- est. - Should you havc Money to Invest —we can also take care of you. Our experlence. exe tending over a period of Thirty-five Years —insures your protectlo-. Percy H. Russell Co. 926 15th St. N.W. Bonds 0dd Lots Carrien on Margin Buck & Company —RROKERS— Established 1916 312 Evans Building 1420 N. Y. Ave. N.W. Tel. Franklin 7300 Direct Private Wires to New York REPORT flFt OF MERCHANTS’ BANK AND TRUST COMPANY Washington, in the Distriet of Columbia, at the close of business on December 31, 1 RESOURCES. ans and discounts, including rediscounts, acceptances of other banks and foreign bills of exchange or drafts, sold with indorsement of this bank 3 Overdrafts, unsecured .. . Other honds, stocks, seeurlt . Furniture and fixtures Roa! estate owned other than banking house Cash in vault and amount due from national banks . mount dne from State banks, hankers and trust companies in the United States (other than included in item ||\| S Total of items 10 and 11 7 . b Miscellaneous cash items . Other assets . Total LIABILITIES, Capital stock pald in ....ooooe.es Surplus fund g a Undivided profits h Reserve for depreciation Amonnt due to State, hanks, bankers and trust F'\mpar\l"‘l in the United States and foreign count Certified checks outstanding Cashier's checks outstanding . Total of items 26, 27 and 28 Demand deposits (other than hank serve (deposits payable within 30 days): . Individual deposits subfect to check . Certificates of deposit due fn less than 30 davs (other than for borrowed) 4 p . Dividends unpaid . Other demand deposits Total of demand deposiis (ather than bank de. posite) ubject to reaerve, itema 29, 30, 33 and 34 . T veee. . 36,003, 2 Time np sifs subject t Iy Aays, or s or mvr. notice, ‘and postal ex of deposit (other than for money borrowed) .. . Other time deposits .. Total of time deposits subfect to reser 5 and 37 . Bills pavable (including all obligation horrowed other than rediscounts) ... . Liabilities other than those above stated . ....... $3,000.751.96 representing money Total District of Col ;i 1 J. EMRICH | that the above statement is true to the hest of my knowledge and belief. E. J. EMRICH, Treasurer. Subscribed and’ sworn to hefore me this 6th day of January, 1927, BENJAMIN ROBINSON, Notary Public. R A. DRURY, BOLLING, HARMAN. | GHISELL ROLAND 8. ROBBINS, LEWIS M. THAYE HOLLAND W. | PETER M. DORS HARRY E. ALLE) ALVIN L. NEWMYER, N. P. BARNES, LAMB, C. C. MURRAY, HARRY R. CARROLL, FRANK F. FINLEY, Directors, mt H'\Rn L FRANK O'HARA. FegE sHFR“non 3 ITCHELL Determine Your Future Do not be deflected from yvour purpose — Eventual Financial Independence. Our Partial Payment Plan provides a solution whereby you can regularly inyest toward the purchase of our First Mortgage Notes ESTABLISHED 1882 Invest Your January Funds to\Earn a Full Wage OW can linvest my January money so that it will earn the maximum, with full assurance of safety ?” This is a quesion which confronts every careful investor. Thousands of ! Juvestors find the answer in Straus Bonds. These securitie: safety but consistently pay the best interest rate compatible with Straus safety) In our current list of securities, you will find bonds suited to every investment Ae t\quirement, affordingwide diversifica- tion with reference You may choose eithex sinking fund or serial bonds. You may select short term)\ investments, or maturities up to fifteen years. The yield ranges from 5.75 to 6.25%. Call, write or telephone taday for our current list of bonds avallable for January i mv:?:;om Ask for & S.W.STRAUS & CO. 929 FIFTEENTH STREET 45 YEARS WITHOUT LOSS TO ANY INVESTOR ot only have a long, unbroken record of » type of security as well as location. BOND LiST 448.G - INVESTMENT BON'DS INCORPORATED Telephone Main 5847 WASHINGTON . $1.000,000.00 250,000.00 treasurer of the above-named bhank, do solemnly swear WE FINANCE |—all clanses of income-prodacing provarty Large Loans a Specialty Current int. rate and commission "Higbie & Richardson, Inc. 816 15th Sl. Pfi w. il FIRST MORTGAGES FOR SALE 6Y2% THE TYPE OF SECURITY % RVATIVE Loans at 57 to 5127 Economical Conditions Tyler & Rutherford Toan Correspondent of the Mutual Benefit Life Ins. Co. Newark, N. J. 1520 K St. N.W. 6% First Mortgage Notes I asaas s o3 Main 475 L] ations of $250, $500, $750, $1,000 and upwards, se- cured on improved situated in the Columbia. JAMES F. SHEA CONSULT US —for investment ot Jour surplus funds oipe future by Tavesting Wm, H. !lnnlan Co. Founs nw. District 1887 14 3 g ‘ashington, A } E. A. Pierce & Co. successors to A. A. Housman-Gwathmey & Co. HOME OFFICE 11 Wall Street York Stocks - Bonds - Cotton - Grain WASHINGTON OFFICE 17th & H Streets The New York Life Insurance Company ffers First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suhurb( in Montgomery County, Maryland Years, 5 Years, 10 Years o RANDALL H. HAGNER & COMPANY Incorporatad MORTGAGE LoAN GORRESPONDENT, 1321 Connecticut Avenue Telephone Main 9700 6!4% Guaranteed First Mortgage Notes Secured by Improved D. C. Real Estate Written Guarantee Backed by More Than $4,000,000.00 Resources as to: 1st—Security of Principal. 2nd—Attractive Normal Income. 3rd—Prompt Consecutive Interest Payments, 4th—Full Return of Principal When Due. Sth—Freedom From All Care and Management. Real Estate Mortgage and Guaranty Corp. L. E. BREUNINGER, President 26 Jackson Place Equitable Co-Operative Building Ass’n JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secret: Organized 1879 4ith YEAR COMPLETED $5,136,317.22 Surplus ...$1,106,195.76 Subscriptions for the 92nd Issue of Stock Being Received Lo e S Save With the Equitable Systematically mind to save sys- tematically the Equitable and stick to it. Our plan has met with the hearty ap- proval of thousands of Washingtonians because it helps them to get ahead more quickly. Join today. 915 F Street Make up your through MORTGAGES SECURITY PLUS PROGRESS The sum total purpose of in- vestment is holding the funds vou have acquired, and at the same time adding to them through assured, “automatic” earning. In our safe 62% FIRST MORTGAGES —your principal is held—safe from market or industrial haz- ards—by improved local real es- tate conservatively appraised at about twice the amount of our mortgage on it. Your interest gain is definite, without inter- ruption. In Amounts of B. F. SAUL Main 2100 925 A Third of a Century Without a Loss $250 and Up CO. 15th St. N.\W. THERE IS NO SUBSTITUTE FOR SAFETY

Other pages from this issue: