Evening Star Newspaper, January 31, 1927, Page 15

THE EVENING STAR, WASHINGTON, D. €, MONDAY, JANUARY 31, 1927 FINANCIAL. TOANS | 47 0N SAVINGS - i it Morienes Loun ret deed of JD!ep'I‘ Well O gel O rust | Loweat Rates of TAterest and Commission. We will gladly receive i i and give prompt attention o savine. «Weller (0¥ LA™ | Thomas J. Fisher & Company, Inc. & = | Open Until 5:30 P.M. Today as to applications for 738 15th Street. Loans on Washington CENTRAL Real Estate TN PN Current rates of inter- 61/27 CONSULT US 0 est. Should you have | —for adfe investmsert of ) First FINANCIAL. | Received by Private Wire Direcs to The Star Ofice 7% First Mortgage Notes Amply Secured Allan E. Walker & Co., Inc., 813 15th St. Main 2690 Savings Plus Life Insuran Doooooooooo0oo HOME FURNITURE LOANS HOME OWNERS Up to $200. within one day i you are buy your home. 6% interest and brok- R5'Ted tape. We take 2nd 3rd or ot Bring [n-what paersvou have home 11" von dome own vour e e om wp 8 P18, on Rotsebold e, A% Woney repatd small s oathiy gy ankin 810 "Real Eatate Small Loan Co. Furniture Procurement Co. 1406 G St. N.W. Room 702 0oo0oooooooooooa | Folldwing $ a Tist of bonds ana| 80fnd P 1. ... stocks traded in on the New York [ 2784 \nif el £ 1 Curb Market today. Saleg in Rundreds. INDUSTRIALS High Allieg: Pk nr ptd - 13 HARG R 3 3 Am Hardware. . R0 W Am Piang 254 2, N e T St Am Pow & b ptd- @ 4241 1200 Vacuum 0if i e a3 Stocks Bonds 0dd Lots Carriea on Margin Buck & Company —BROKERS— Established 1916 312 Evans Building 1420 N. Y. Ave. N.W. Tel. Franklin 7300 Direct Private Wires to New York | | [als]a]al=]a]a]=]s]=]=]=]= The New York Life Insurance Company Offers to Make First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Md., for 3, 5 or 10 year terms on:your 559@9% Apply RANDALL M *HAGNER. & COMPANY MORTUAGE 'LoAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Foug anrpius fands, Look Money to Invest 0 Eyg i O vt | —we can also take care of 'm. H. 8aunders Co. y Our experience, ex Mortgage 51483 K st O i Notes Fom A dineton. B ¢ tending over a period of s i T e Thirty-five Years g —insures your protection. Percy H. Russell Co. 926 15th St. N.W. ooooooooooooo Home Office Building Business Property |G. M.-P. MURPHY & CO. Members New York Stock Exchange FIRIST MO R'T-G AGE.S Aoayerent 1 2 Cont e e IN FULL, ON TIME, WITHOUT FAIL The investment of your avail- able surplus funds demands, first of all, Safety. Without that, vou gamble rather than invest. So Safety—in every phase and every way—is the paramount factor that recom- mends your purchase of our 61,9 FIRST MORTGAGES Augmenting that Safety—. helping you to gain finances as well as fully protect what you already have—is their depend- able semi-annual payment of interest. In full, on time, with- out fail. In Amounts of $250 and Up B. F. SAUL CO. Main 2100 925 15th-St. NiW, First Mortgagc Loans Successors 10 JOHN L. EDWARDS & COMPANY A copy of our Fortnightly Review sent on request 1416 H Street Northwest 1 14 CG&F 4 Coursiamids Applications Invited at 5% % On Improved Property Extoy Welta € A 2 siey Welia C B ageol Mot Co fards Sug Co Matale T = 5 255900550000 s Ty pe A Ohis 2 Hood Rub 7e 10314 8 Ind Limestoe' 8 0R 4 Int Gr Nor K R Int Nat G 8s ww 102, i a—) B e e 75 P CE TR e 5050 HAT THRIFT AND SAVING accomplishes in establishing a Financial Surplus Shannon & Luchs, Incorporated, protect by safe, sound and interest-producing— 52 Broadway, New York Richmond, Va. 3 Construction Loans at Minimum Rates Glover & Flather 1508 H St. N.W. Frank B H M Fral &' ¢ Freshman Chas Filton Syl E Galv Honsfon El. 3 Garor i 3 Gen Bak A Gen Bak R Gen Pub Sar Gillatta & R Glen Alden ©oal. 1 Goodvear T Hanninem ¢ N - i o3 JUST COMPLETLD DOWNTOWN APARTMENTS THE WADE 13th & MSTS. N.W. Just North Mass. Ave. bed and 840 2 rooms, kitchen, bath and Elevator Service Easy Walk to Business Section and Departments OPEN EVENINGS H. R. HOWENSTEIN CO. 1311 H ST. N.W. 1 T CAROIOORD. . JIon First A Third ofa Century Nat G flgs A0 Johins-Manv 8o Mortgage Rawneer & Co Without a 773 We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street COMPOUND INTEREST PAID ON SAVINGS Loss Securities b - 4 B BN S 5 7 A Dependable Security with liberal yield. ® SRR SR FARRE 1 room, Murphy bath, only > s PV P I et THERE . IS . NO ‘SUBSTITUT FOR SAFETY s & Transcont ‘Ol 78 ni Ind Glos. - ..._, _ s MNP i3 FE ¥ As subscriptions have been received in excess of the amount of debentures offered, this advertisement appears only as a matter of record. $50,000,000 General Motors Acceptance Corporation - TEN-YEAR SINKING FUND 6% GOLD DEBENTURES e Dated February 1, 1927 233523322352 P 5 For Payday Depositors’ Convenience ~this bank will remain Open Until 5:30 P.M. Today and Tomorrow One_Dollar Will open a Savings Account National tropolitan Bank Mhesl., (;gpositeaul.ls. Tfalalury Equitable Co-Operative Building Ass’n JOHN JOY EDSON, President WALTER F. PRATT, J ‘e!‘l‘eury Organized 1879 4ith YEAR COMPLETED Assets. vei....$5,136,317.22 . Surplus................ $1,106,195.76 Subscriptions for the 92nd Issue of Stock Being Received un s 101 Gt Cons El 6igs 963 M_BK Lin %s 10 s 23 .,,._... 333233 FRPRRPRR FRSREIE B 22, =5 i Due February 1, 1937 Lo 5% 2353 &R Reo DooeS33 ST ENE Interest payable February 1 and August 1 i i1 4 ) = .Principal and interest payable in gold coin of the United States of America of the present standard of weight and fineness, at the office of J. P. Morgan & Co., New York City. Debentures in'denomination of §1,000, in coupon: form, registerable as to principal only, and in fully registered form. ez 3 3R 2533335 oz oa 2333325338 = ¥e 7 =5 2 i fui i3 k'muplnr{l‘y 8. 9 g i * Equippes 53 TRUST DEPT. for the Discharge of all Fiduciary Duties b ysscses Rz 2! Lolgeihe - waNTNG BTOCKS. elo Chil C % Ig 10 Ang 10 Dolores _Esper 80 Eureka Croeens F3 e a82 2z, 5v 3 3= AR SR, SE e, Y e 22 ] 5 3 g, 2409 ad 3, > 5323350 Redeemable for the Sinking Fund as below described. Redeemable, at the option of the Corporation, in whole or in part, on 60 days notice; on August 1, 1928, or February 1, 1929, at 104%, and on any interest date thereafter at 10,9, less 14 of 19, for cach year or fraction thereof elapsed since February 1, 1929. 7 3733 @ e 122 Kay exmant Established 1814 —113 Years Old FTY PEEBEE Y S sreF ,_ S8 ke OLDEST National Bank in the District of Columbia REFEETER ren The Corporation will covenant to create a Sinking Fund for the purpose of retiring the following principal amounts of the Debentures during the years ending on the following dates, respectively, at not exceeding the redemption prices stated: $1,000,000 August 1, 1928, at 10,% $2,000/000 August 1, 1929, at 108155, £5.000,000 August 1, 1930, at 108% $4,000,000 August 1, 1931, at 102155, $£10,000,000 August 1, 1936, at 100%, $5,000,000 August 1, 1932, at 1029, $10,000,000* February-1, 1937, at 100%, * Retirement during sic months' period, inciuding retirement of $4,000,000 Debentures at maturity. Sinking Fund moneys will be used for the purchase of Debentures at not exceeding the current redemption price, or, if not so obtainable, for the redemption, on August 1 of each year commencing August 1, 1928, at the current redemption price, of Debentures called by lot. Ee o 3 m Con mmd-{.‘ m "'""}'"‘", 3 $5,000,000 August 1, 1933, at 101159, £5.,000,000 August 1, 1984, at 1015, 85,000,000 August 1, 1985, at 100157, & | Wall Street Briefs || 1 NEW YORK, Jenuary 31 (®).— !"The - Commercial Inveatment Trust! | Corporation reports that its business and net profits for 1926 were largest in its history. Bills and accounts pur- chased during the vear aggregated against $148,015,975 in profits rose to $3,504,376 Balance for common. | e i, % e | Start Today Saving Systematically {that activity n some lines has not | thus far revived as promptly as was Whether you are Just a small por- saving for a house |expected, the Guaranty Trast Com. | pany of ‘New York says it is still too {early to conclude that this tendency | | has any significance as an indication | | that the vear's business may be ma-| terfally less active than that of 1926.(| or to complete your children’s education, you'll find the Equi- table’s systematic saving plan a valu- able aid to accumu- | Collateral Bankers, Inc., declared an | late money. sonsse » 7 Cit Serv v 30 Columbia Svna’. 2 Cons Roval n. reole Synd wn Cent Peto Darhy Pete . by 0 & » o o T Seie R mp bl Bk R o BANKERS TRUST COMPANY, NEW YORK, TRUSTEE. Sis i Mr. Curtis C. Cooper, President of the Corporation, has summarized as follows his letter describing this dssue: OWNERSHIP i3 The entire capital stock of General Motors Acceptance Corporation, with the exception of direc- tors’ qualifying shares, is owned by General Motors Corporation. The Corporation was organized in January, 1919, under the investment company provisions of the New York State Banking Law, and is subject to exarnination by the State Superintendent of Banks. The Corporation employs approximately $36,428,000 of capital funds, represented by capital stock of $25,000,000 and surplus and undivided profits of $11,428,000. OBLIGATIONS As of December 31, 1926, after giving effect to the issue of these Debentures, the outstanding AND ASSETS obligations of the Corporation amount to $215,546,000, consisting of $50,000,000 5%, Serial Gold 3 Notes, $50,000,000 Ten-Year Debentures (this issue), and $115,546,000 of bank loans and short term notes. In comparison therewith, the Corporation has earning assets of $270,055,148, of which $37,930,068 is in the form of cash, and the balance in the form of notes and bills receivable with an average maturity of about 4.3 months. EARNINGS The interest and discount charges on the borrowings of the Acceptance Corporation are the largest single factor in the cost of its operations, and the rates for its services are regulated so as amply to meet these charges. Its policies in this respect are radically different from those of an industrial or commercial enterprise and are comparable with those pursued by commercial banks in fixing rates on money loaned. AND tion of your salary ORGANIZATION . deposited regularly, 8l 3 extra profit-sharing distribution of 1 : . {per cent to bondholders of record ISSUES {Janyary 15 in addition to regular 7 | per coupon interest. Checks have been mailed to 4,800 bondholders {in 44 States and 5 foreign countries, Total loans in- 1926 were $7,753,000, " . 2 5 1 |against $3,438,271 in 1 f 2 | . will in time grow to STANDARD OTL . a substantial sum. Start now and st iy 50 Buckeve P L. cent Contl Ol n beriand P L1 C. N. W. INCOME UP. | NEW .YORK, January 31 UP).—A preliminary st nent of the Chicago and Northwestern Railway for 1926 | |shows net jncome of $12,419,841, against $10,784,578 in 19 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY Operating Expenses, Interest Reserves, Taxes and and Misc. Charges Discount Y g3,774.866 Net Profit Available For Dividends Total Year Gross Income 1922 1923 $1,929,790 § 298,706 1,451,828 SPUR STEEL ACTIVITIES. BOSTON, Jannary 3 approaching in the Nes ned goods situation, due 56,003,362 5,850,613 ton of surplus stocks canners say they suffered as a result | of the huge packs of the Middle West Jast vear. wher cheaper than NS, The Union Ware press Co. of Memphis NEW ORLF houge and ¢ has leased 1 a the Texas fic Raliroad ‘and the Missouri Pacif 0ad at Westwego and through an agreement with the rt commission wil oetve cotton on the west bank of the Missiesippt and load for export with out paying ferry charges. This will @ feseen handling charges on Texas, Touisville and Arkansas cotton warehauses from CLEVELAND uets Co., largest m: frames, s working eent of capacity Thom Co., makers of aitomol at 80 per cent, In Villard Storage Pattery and National Acme report business under normal f aut 40 t Ives, is ATLANTA —The State gasol! in the lagt year produced $5 gevenue. This compares wit ? 884 in the previous year. KANSAS CITY.—A somewhat bet fer demand has dev eloped for lumber in this territory, with a slight im- provement in prices BOSTON.—According to \survey by shippers, a expect 10 & goods- this and wire shipments are expected 1o advance 20 per cent, canned goods, irom, steel and rubber 15 per cent, Sash and door and scrap metal ship. yments probably will show a decrease.. » | Youngstown distriet, able to re-| Midland Steel Prod NEW YORK, January 31 ().—In. | creased steel operations at the start of the week are reported from the re independ. | nt companies have open-hearth | furnaces active out of 53, which will be increased to 40, and 100 of 7 valley sheet mills under power. Car. negie Steel is operating its.15 open hearths at the Ohio works, the first time in more than a month ‘ " FIRST MORTGAGE LOANS 5%,%-6% Applications for first mort. gage loans promptly acted upon by our Loan and Investment Depirtment. W. H. West Company Founded 1894 916 15th St. Main 9900 1‘ Money Au;ailablc fur |'F irs! Deed of Trust LOANS Reasonable Interest and Commission Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. Never Misses! NCE every year the red-deer sheds his antlers. And every six months.an interest check is sent to holders of ‘First Mortgage Notes purchased through ‘Swartzell, Rheem & Hensey Company. Tt never misses—it comes on the day it's due, without fail, Our First Mortgages now yield 614 per cent and are backed by a record of fifty- seven years without loss to an investor, Swartzell,Rheem & Hensey Co,, Mortgage Bankers - 727-15th. Street, A.W,, WashingtonD.C. 57 Years Without Loss to An Investor 1924 11,065,111 1925 12,243,551 2,356,736 7,040,967 1926 28,701,825 15,042,156 5,193,203 The Corporation has consistently maintained the policy of charging for its services rates which yield a reason- able but not excessive banking profit on the capital employed. Such profit, after providing for the Corporation's expenses and interest on its indebtedness, has been sufficient to permit dividends since the end of 1922 at an average rate exceeding 12 per cent. on the:capital stock as outstanding from time to time, and, in addition, to build up undivided profits of $5,178,200 since organization in 1919. 2,247,177 THE ABOVE DEBENTURES ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO THE CONDITIONS STATED BELOW, AT 100%, AXND ACCRUED INTEREST. Subseription books will be opened at the office of J. P. Morgan & Co. at 10 o’clock 4. M., Monday, January 81, 1927, 'and will be closed in their. diia,;efian. The right is reserved to reject any and all applications, and also in any case to award a smaller amount than applied for. All subscriptions received are to be. subject to the due authorization and issue of the Debentures as planned, and to approval by counsel of the form and validity of the documents and proceedings. The amounts due on allotments will be payable at the office of J. P. Morgan & Co., in New York funds to their order, and the date of payment (on or about February 15, 1927) will be stated in the notices of allotment. Temporary Debentures-or Interim Certificates, exchangeable for definitive Debentures when received, will be delivered. . J. P. MORGAN & CO. FIRST NATIONAL BANK, NewYork = THE NATIONAL CITY COMPANY, New York BANKERS TRUST CQMPANY, New York . XNew York, January lf_: 1927,