Evening Star Newspaper, March 22, 1928, Page 15

" TINA INCOME-YIELDING BONDS ARE STRONG Rail Mortgages Attract In- | terest—uUtility Group Again Advances. BY CHARLES F. SPEARE. Special Dispatch 1o The Star. NEW YORK, March 22.—The unex- pected advance in call money rates to- day to 415 per cent after the decline yesterday to 414 per cent did not pre- | vent a strong market for low income vielding bonds. In this respect the was as indifferent to conditions that ordinarily affect it as was the| market for stocks. | A notable feature of the day was the new interest in railroad mortgages. They had the best appearance in sev- eral weeks. Atchison first 4s advanced 1, Union Pacific 41ss were a full point above their recent low, Illinois Central joint 58 rose a point; Buffalo, Rochester and Pittsburgh u?s three-quarters and Southern Pacific 4138 from below par. Utilities Are Strong. i ublic utility group was bene! m'ep;mqge of the New York State vings bank bill which permits the in- vestment in a large group of such issues. Not only were the bonds to be made Jegal strong, but also those that will re- mhain outside of the legal class. Phila- delphia Co. 5s snd Columbis Gas and Bectric 5s each gained 3. Columbus QGas 5s rose a point. A large advance subscription is reported for the Ameri- NCIALD. NING (s o BONDS o ] Raceived by Private Wire Direct to The Star Ofice Quotations to 2:55 p.m.—~Final Quotations in 5:30 Edition. UNITED (Sales are STATES. tn 81 000.) Sales. High, Low. LibS . Lib st e e 288, 101019 1019 1019 6 10228 10226 10228 Lib3days 183 10014 100 14 10014 Lib 4th 4% e UStuss: 46 10320 10318 10318 8 11524 11524 11624 FOREIGN. Argentine s Argentine Australt: Australia §s 1957 Austria Ts. Beigium 78 1986, Belglum Belgium moved up to 10012 | g, Czecho T4 s rots, Czecho 8s Czecho 8s §! Danish Munic 8s A Dau Munic 8s B Denmark 6s. = DE15%s Nov 53 can Gas and Electric debenture Sfifl'n:nleh Bast | s 47 whose offering has been postponed until | A0 o0 [ LR g0 st of next week. The anfl:- m Third Avenue, New York Rail-/ way. Broadway and Seventh Avenue Finland s 6s 65, Framerican I 4s. . French 1s. . and Hudson and Manhattan bonds were | [FRCH 18- .nk‘x’t‘a- an advance to & mew high at 1311, Andes Copper Ts dropped belov_' Wednesdays closing. United States ‘Rubber 5s and 7ios were strong. Should the dividend on the preferred stock be the company Wwill save over $5.- “annually. This would strength- position of these bonds. Sinclair sold at about par and the s at 102. advance was in line with that in ¥'s stocks, with llllhor the Sinclair securities reflecting the pos- shhility of a change of management. S. A. L. Issues Are Heavy. The mew Wabash Railway 418 at compare 5 per cent bonds of b toge isued in 1938 at %! 2 Utd Ringm 64837 17 1064 106 106 td SteamCopen 6 1 99 99 goodt demand. German Bi P 6}s. 1 LU Greek “ Holland-Amer 8s. . Hungary T4%s ltaly ¥s.. . 50 High. Low. 2:83. 9%~ og s 1004 100% 16 100% 1004 1004 100% 100% 1004 100% 1004 1004 98% 984 984 o8 98 R 98y 98% 100% 101 24 1081 1084 1084 17 1061 196% 106% 6 115% 115% 115% 3 110% 110% 110% 9106 105% 108 12 101 100% 100% 37 984, 9T 984 15 95 08 9RW £ 101% 10134 101% 26 111% 1114 1114 3 102% 102% 102% 20 1004 1004 1004 4 1004 1004 100% 8§ 101°% 101% 101% 4107107 107 § 101% 10134 1015 6 102in 1028 102% 7 110% 1104 110% 11104 1104 1104 20 9Ty 9T 97N 19 105 105 108 511 1 111 S 110% 110% 110% 13 1% 11 1% 211 1Mot 46 106 106 106 2 103% 1034 1084 1 104% 104% 1044 5104 104 108 4 99 99 1108 108 33109 108% 108w 22 117% 117% 117% 3 08ts 98l 98 55 107% 1074 107w 1 9 99 9 103% 1034 108% 99 98y Sales High, Low. Westn Union 6%s, 5 112% 10 1047% Willys-Ov 614883, 3 1024 Wilson & Co 18t 6. 14 103% WinRepeat Ar 13448 1 106% ¥ngstn S&T 6s w.i. 33 101% 101. RAILROAD. Atohison ad) 234 Atoninon wen 4s. .. 97 Atiantio C Lol 4s.. 25 954 95 Atlantie C L 1t & AtlanC L alsfe. . AU & Dun Ist 48 48 B & 000l 48 B&Ocviys B&Oref 8s B & O 53 2000 B&O1stbsot Brookiyn Eleo 6 s BKlyn Manhat 68 & Buff R & Pitt 4448, Can Nat 438 67... Canad North 648 Cent Pac 1st bs Chesa Corp 6s wi. Ches & Ocv 44s. . Chi & Alton 3s.... Chi B&Q en 48 58, CB&QIWs17B.. 15 Chi S&Qistrfss. 3 CB&Q-I3 . Ch&K 111 gn 68 61 ChiGt West 48 69, CM&StP 58 (new). 675 CM&StP ad)j (new) 691 Chi NW ¢44n 3037, Chl & NW ref CRi & NW 6% Chi Rys bs. .. ChRI&Pgi ChiRISPP CRIPacave Chi T H inc 6s 80 Chi Un Sta 44 Chi Union Sta Chi& W Ind en Cuba R R Cuba R R T3 s 11023 102% 102% | Cuba Nor 6% 8 atas, 9 « 11 9T% 97% o7y Del& Hudistef4s Japgnese 6148, .. Marseille 6s. . sexico ¢s 04 asntd Mexico 48 10 asnid Milan 6348 Montevideo 7s 1 935 93% 93% 15 103w 103 23% 23w 23W 9 93w 98u 93w 1 104% 104 104% 13 1024 1024 102% 95 6% 95 9 6 1021 102% 102% 3 101% 101 101 20 102% 1024 102% 14 102% 102% 102% 8102 102 102 24 101% 100% 1003 7 99% 991 9uy 24 1044 103% 103% 1 103% 103% 103% 169 93% 934 93s B 104 103% 103% 6 107% 107% 1 7 107% 107 8 Biw B4l 844 98 91% 91u 9% 17 101 100% 100% 2 115% 115% 115% 4 109% 109% 109 5 107% 107% 107% 3 109% 109% 109% | 4 » 6 107 107 107 41 94 93% 14 119% 119 5 103% 1034 108% . 20 1123% 1124 1134 2 100% 100 1004 80y 80% 92 9w 92 99 17 109% 108% 108% Del & Hud 7s 30 Den & Ri0o G en 4 Erte 18t cons 4 Erie zen ¢ Erie conv 48 Erieconv 4s B Gr Trunk stdb 8s. . Gt Nor 414376 D. . Grt Northn 4 448 E. Great North bs. ... Great North 5%s.. Great Nor gen 7s.. Hav El Ry 64851, Hud & Man ref 6s. Hud & Man ai B8, Cent re L1l Cent 48 e iliCent 4%n88.... 111 Cent Chi 438, [11-C-C StL&N( int Raptd T Man Ry 1st90..... Man Ry 24 48 2013. Mich Cen ded . 14 98% 98% 9w | MIEIRy&L MISCELLANEOUS. in free | Am AgriChem 1%s dosen, | Am Smit & R 1st 60 15 102w 102 Anaconds Andes Copper 1s...774 131% 127% 129% ts, crate, 3.0085. 100 008 BethlehemSti pmbs 1 101% 101% 101% Beth Steel rf bs. ... Beth Steel 538 63. " | Beth Steel §; wes Bkiyn Edison bs Bkiyn Union $%s. . g 100- | Chile Copper 6 crate, 2.50a7.00 Go) Oe, , 20840, ‘Appies, bushel, 1256300 barrel, 3.50a 250 grapefrult, box, 4.0085.50: oranges. 8&El deb 68 3. Con Coal Md ist 68 31 ConGasN Y 6%4s. Cuba Ca box, 4008850, strawberries, quart, 40a | Consumers Pow bs 50, Hay and Grain Prices. No. 2 red Winter, export, ; No. 3 red Winter, export, no ; No. 3 red Winter, garlicky, domestic, 168. 3 Corn—~—No. 2 yeliow, domestic, 1128 1.13; Mo. 2 contract, export, 1.11; comn | new, 5008550 per barrel ts—-No. 2, white, domestic, 67%:a 68, No. 3, 66°,a8T7. Rye—Nearby 1108120, Hay—Receipts, 33 tons H”tr“ ar- riving bere in fair quantity, but the demand for hay kt:fly s very limited and not enough actusl business pamsing W establish quotations on the various kinds of grades. je of prices is about 14.00 10 17.00 per wn for good o8 y snd clover mixed i 11.00812.00 per STEEL SCRAP LOWER. || NEW YORK, March 22 ®)—Heavy | meltn steel scrap s 26 cents & wn Jower in the Pitishurgh district, quote- tons ranging from $14.25 W $14 15 Oc- enslonal saies Of Bessemer pig 1ron are repored at $17.25 m . OB of 25 cents $17.50 valley DIVIDENDS any St Krp>p > KXEK: TRYNRRLERES ifigic & gl cale 1% 4 Humble C 111inois Bell 1ei 1111n0is Breel 4 % Indisna Stee) int Mer Marin Pacific Gas & K] bn 3| P P . 10 103% 108% 108% DetroitEdison 65 40 Detroit Edison 6s.. Dodge esoe East Cuba Bug 7 Gen Mot Ac Cor Hoe & Co 6%s Humble O11 O& R inter Paper 4 o | New York Ea 8 NY Telé%h NY Tel 684l NY Tel s, 3 Nor Onio Tr & L 6 Nor States Power ¢ amount 6s 1947 Phile Co bs ‘61 wi. B2 101% 101 Philakftean C&l 68 Phiis Cortean. .. Piercs-Arrow Por Rie Am Tob b Punts Alegre e IuRWBAT . 11 100% 100% 100% . 20 103% 108 2 105% 105% 105% 102% 7 105% 105% 105% 7 107% 107% 10T% 8 109% 109% 1095 1 100% 100% 100% 3 92 91% 92 49 105% 105% 106% B1 112% 112 112% 7 91% 91% 9% 24 1% 90% 91 4103 102 103 1 102% 1024 102% 26 100 100 100 B 109% 108% 108% I8 112% 112% 112% 1 108% 1034 103% 1 103% 103% 103% 16 105% 105 105% 6 106% 106% 106% 7 270% 270 270% 84 96U 964 96% 56 101% 101 101 % 17 1% 18 106% 106% 106% 1 104% 104% 104% 12 91% 91% 9% 1 106% 106% 106% 5 101% 101% 101% 2 105 104% 105 6108 108 108 95 K3% B8 B8y 5 103% 103% 1084 103% 108% 107% 107% 9% 94 94 6 96% 96% 961 | 4 102% 102% 1025 11 105% 105% 105% 6 100% 100% 100% 1106 105 5 7105 108 3 104% 104% 104% B 9TH 9T% 9w 49 116 114 114% 10 105% 105 105 1 Wk 1084 108% 1106 106 105 1 101% 101% 101% 3105 104% 106 106 104 122% 122% 9 105% 106% 1064 60102 102 102 7 104% 104% 1044 | B2 102% 102 1025 By Bl BBl 1106 105 108 105% 1054 117% 119 108% 12 108% 1084 108w 12 110% 110 110% 10 103% 163 10314 1 106% 105% 105 8 106% 1064 106% 10 104% 105% 108% 29 Y9n Yo% 60% by 994 Bow 101% 4 96k 96 96 9 103% 108% 103% 1 94 94 w4 15 101% 1014 101% 1 104% 104% 104% Z 100% 100 100% 14 G5 UK ORW MU EIRy & L Mob & Ohfo 4348 77 Mont Trm ref 68 41 Nassau El 48 51 or T4 ol NYChi&Stl 6 e NYChi&StL 6 %8B New Haven 8348 66 New Haven'ds 65., 16 NY NH&H 4s 56 NY NH&H b 48 61 5 NYNH&H 4%s. 222 NY H HavaHoit 6 . 5 NY N NY N Y Rys N ¥ State NYWa D. Northern Pacr i 68 Ore Short L rti 93 yhyy 100% 995 Vit Wi bW 1lbw 120% 126 ToxArk KB 6460 2 106% 106% 106% % & a0 68 17 rie 1id 104% 104 104k Third Averef 48 60 69 614 100% T Yo% Hou Puaine ref 4n. . Bou Pac 4 Rur WHEAT GOES LOWER IN TODAY’S DEALINGS Quotations at Liverpool and Favor- able Weather for Domestic Crop Are Factors. By the Associated Press. CHICAGO, March 22.—Influenced by lower quotations at Liverpool and by favorable weather for the new domestic crop, wheat values here averaged lower today in the early dealings. Liverpool advices sald Argentine wheat shipments are expected to be large this week. Opening at 5, decline to 3 advance, cmmm wheat later showed losses all around. Corn, oats and provisions were likewise easier, corn starting Y% to down and afterward sagging a little more. In the face of an apparent pause in demand at Liverpool and price declines there, whereas upturns were due, the Chicago wheat market today met with lling on the part of commission Meanwhile, auspicious growth conditions for Winter wheat in the United States were likewise a bearish factor, but on the other hand figures were circulated showing that the world's avallable wheat supply had decreased 19,668,000 bushels during February, compared with an increase of 23,378,000 bushels the month previous and with a decrease of 7,647,000 bushels in Feb- ruary last year. Corn prices went lower early with wheat and as a result of heavy selling to realize profits. Resellers of corn in Europe were reported to be offering corn_cheaper than the offerings from the United States. Pressure from the new Argentine crop was represented as at least a temporary bearish influence. CHICAGO LIVE STOCK MARKET CHICAGO., March 22 (#) (United States Department of -Agriculture).— Hogs—Recelpts, 35,000 head: market slow, uneven: steady to 10 higher than yesterday: choice lights and medium weight butchers mostly higher: less desirable kinds heavy butchers, light lights and pigs mostly Steady; top, 8.50: pald for choice 180 to 210 pound weigh 170 to 220 pound averages, 8.25 to 8.4 220 to 260 pound weights largely 8.00 to 8.35; 280 to 340 pound weights, 7.15 10 8.00; bulk 140 to 150 pound averages, 7.25 to 8.10; cholce 150~€'mmfl weights x_;p to 8.35 and 8.40; pigs largely 6.25 to 25 Cattle—Receipts, 8,000 head; fed steers and yearlings steady to strong; spots a shade higher: she stock and bulls slmns to 15 higher; to choice vealers scaling 125 pounds upward 50 higher; lighter kinds stea mostly 11.50 to 12.50; several loads 14.00 to 14. to 13.50; low cutter cows, 5.50. Sheep—Receipts, 7,000 head; fat lambs active to all interests 10 to 15 higher; spots 26 up; bulk 85 to 92 pound wooled lambs to choice, 17.00 to 17.40; best held higher; good and choice 85 to 88 pound clipped lambs, 14.50 to 15.25; sheep rce and strong: better grade ewes, 9.50 to 9.75¢ feeding and shearing lambs strong to 15 higher; good kinds, 15.50 to 16.00. SILVER SPUR DESIGNS HELD CLUE TO SPANISH | Ornaments Found by New Mexico Laborers Believed Left by Con- quistadores 300 Years Ago. Correspondence of the Associated Press, ANTHONY, N. M.—Two silver spur ornaments, found by laborers leveling land near here, are believed to have been worn by some Spanish grandee who explored this country three cen- turies ago. The ornaments are oval and about . _The rty of Spanish conquistadores spen: the Winter of 1680 in this vicinity. The spur ornaments were found near the line of march of that party. Established 188% DAVID J. HOWELL & SON Civil Engineers Union Trust Buil 1st Trust Loans Any Amount D. C. and Montgomery County Large Construction l;rojecu FRED T. NESBIT M. 9393 1010 Vermont Ave. LOANS Let us have your applications “LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks for itself. Percy H. Russell Co. 926 15th St. N.W. WRIGHT, SLADE & CO. Members New York Stock Exchange New Yorhk Cotton Exchange Chicago Board of Trade Stocks and Bonds ght and Sold for Ci or CARRIED ON MARGIN THE MAYFLOWER HOTEL Conneatieut Avenue at De Sales Bt Telephone Main 370 Kesident Partaer Over a Third of a Century's Realty in All Phases— —in Washington—has beon HAVING RECORD QUARTER. NEW YORK, March 22 (#).—Dochler Die Casting Co. 18 expeflenelnf its largest first T.umr volume of business, President H. H. Doehler reports. Febru- ary business was 30 per cent ahead of last ’%elr and March would show a gain of to 25 per cent. Vending ma- R oy S i, W Pl an important part e future, he said, as present contracts for Wrigley machines, United Cigar Store machines and others amount to several hundred machines. He looked for a record year for the company. o MEDIUM WOOLS MOVING. BOSTON, March 22 (Special).—In- quiries contfnued to favor medium- grade domestic wools today in the Bos- ton wool market, with some business for future delivery. Strength in forelj wool markets was reported and I ly some sales of fine Australian spot wools 929 Ly MARCH were being made. Fine wrflwz'm quoted at 1.18a1.22, clean basis; nch 1928, by first desd of trust on feal estate. bing at 1.10a1.12, half blood at 1.10 ‘""'#i alling 1 81 aL16, three-gightis ‘biood 8t 1008105 | Joseph-1. Weller 48 Wash. L. & trust e B, Oth &V N.W, and quarter 1 Fine Ohlo fleeces * were quoted 3 grease basis; half blood at 50a52, three- eighths blood &t 81a52 and quarter blood at 53, a-— COTTON GOODS ACTIVE. NEW YORK, March 22 (Special).— Cotton |oo£xm-rkeu were moderately active today. Print cloths were marked up Y at 8% for 68x72s and remained unchanged at 7% for 64x60s. Raw sllks slipped off 5 points in quiet trading. PARK & TILFORD. NEW YORK, March 22 (#).—Park & Tilford earned $3.70 a share in 1927, against $2.66 a share in 1926, Net profit rose to $740,419 from $533,413. Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co 1520 K Street FINANCIAD e ey Money Available for FIRST DEED OF TRUST LOANS 6% Reasonable Commission #* . RBlde, _Oth & ¥ N.W. JAMES F. SHEA Main 475 643 Louisiana Ave. N.W. G. M.P. MURPHY & CoO. Prompt Replies to Applications REAL ESTATE LOANS 6% First Mortgage Loans for 3 or 5 Years No Appraisal Fee No Curtail Construction Loans in Any Amount Bring us your real estate financing problems. ctin-ulntwn. Applications answered im- y. REAL ESTATE MORTGAGE & GUARANTY CORPORATION Main 1403 ; 26 Jackson Place Members New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange Chicago Stock Exchange New York Curb Market Copy of our “Fortnightly Review” furnished on request 1508 H Street Washington, D. C. Main 9600 Private Wire and Telephone to New York strong to 10 : bulk better grade | 1 dy. best heavy steers, 14.25; | bulk, 12.00 | NEW JERSEY BOND AND SHAREHOLDING CORPORATION (INCORPORATED UNDER THE LAWS OF THE STATE OF NEW JERSEY) AN INVESTMENT TRUST Offws for Public Subseription 25,000 shares—7% Cumulative Preferred Stock ($100 Par) 100,000 shares—Investors’ Common Stock (No par) Preferred stock is fully paid and non-assessible, and is stock is preferred as to divi Trustee and Registrar cferred as to cumulative dividends, payable semi-annually on the 15th of Apri and Octobes, and preferred as 10 assets in the case of dissolution. Non-redeemable e > a0 :‘m‘* = whole or in part, at the option of the Car‘ronu'on. on 6o day i ideads aad assets over prior to October 15, 1930, and, , 18 redeemable as & notice, at 105 and accrued divi . Iavestors’ common e Founders’ Common Stock previously issued. Investment Counsel T FIDELITY UNION TRUST COMPANY INVESTORS COUNCIL OF AMERICA,INC. FEDERAL TRUST COMPANY Newark, N. J. 44 Wall Screet, New York. Newark, N. J. Capitalization Upon Completion of Present Financing Toeal Anthotised 7% Cumulative Preferred Stock ($100 Par)..... $2,500,000 Investors’ Common Stock (No Par)............180,000 shares Founders’ Common Stock (No Par) <umemennn-2§0,000 shares Uniseued Tssaed 20d Outseanding None $2,500,000 75,000 shares® 108,000 shares None 2$0,000 shares*® ©74,00 Sharua reserond for warronts sn Prefurred Swek; 15,000 Sharet trserved for opriuns v beiders of Poundoes’ Comamen Srack. 0411 o rhe Fambers’ Coumemen St was seld i 1o vbic ofbing. Business: New Jersey Bond and Shareholding Corporation, organized under the laws of the State of New Jersey, is a superior type of management investment trust which combines in its portfolio sound securities:listed on the New York Exchanges with prior obligations of moderate sized New Jer- sey industrial enterprises. Both phases of the Corporation’s activities are under the same manage- ment, charter, By-laws and Trust Agreement and are operated as a single unit. The total costs of financing are figured not to exceed 9%. All or- ganization expenses have been paid and adequate working capital has been provided by the sale of Founders’ Common stock to the extent of $250,000. Method of Operation: Initially the Corporation op- erates entirely as a standard Investment Trust and all of its funds will be invested in securities, listed on the New York Exchanges, which are carefully selected from the standpoint of safety, earning power and possibility of appreciation. A minimum of one-third of the funds of the Corporation avail- able for investment must at all times remain in- vested in such securities, over which the most care- ful and expert supervision is exercised. The Cor- poration may, however, use the other two-thirds of its available funds in the more remunerative field ‘of operating a Financing Investment Trust, when acceptable opportunities for investments of this kind are offered by established companies of proved earning power, Investment Restrictions: The restrictions govern- ing investments, which the Corporation will ob- serve include the following: (1) No funds may be invested in the securities of any new or un- proved enterprise, (2) Not more than 5% of the available funds of the Corporation may be invested in the securities of any one company, (3) Not more than 20% of such funds may be invested in the securities of companies engaged in any one in- dustry, (4) No funds may be used in speculating in securities on margin or in the sale of securities “short.” Reserve Fund and Dividend Disbursements: After 7% dividends have been paid out of earnings on the Cumulative Preferred stock outstanding, the charter of the Corporation provides that 25% of the remaining earnings shall be set aside in a re- serve fund, the proceeds of which must be invested only in seasoned bonds and preferred stocks. There shall then be paid One Dollar per share on the Ine vestors’ Common stock; thereafter 10c per share on the Founders’ Common stock; and the re- mainder of the funds available shall be distributed 60% to the dnvestors’ Common stock and 40% to the Founders’ Common stock. Investors Safeguarded by Trust Agreements: The provisions of the Trust Agreement with the Fidel- ity Union Trust Company of Newark, N. |.. the Trustee, include stipulations that all of the Pre- ferred and Investors’ Common stocks of the Cor- poration to be valid must be registered with the Trustee; that cash or securities, equal to 90% of the gross amount for which such stocks have been sold to investors, must be deposited with the Trustee before same will be registered; that no withdrawals other than income on investments can be made from the funds so deposited with the Trustee until the total of the cash and securities is in excess of the total gross amount for which the.stocks of the Corporation were sold to inves- tors, and then only such excess may be withdrawn. According to the best information available, these and other provisions of the Trust Agreement rep- resent the first instance wherein a Board of Direc- tors has voluntarily protected the interests of investors under such comprehensive safeguards as those incorporated in this agreement. The Trust Agreement may not be terminated or amended ex- cept by resolution passed at a called meeting of the common stockhalders. Management: The management of the Corpora- tion is vested in a Board of Directors, composed of bankers,.business and professional men represent- ing practically every line of business, who are elected by the common stockholders. All of the Founders' Common stock has been subscribed by the officers, directors, members of the Advisory Council, and by a selected list of bankers, business and professional men. The management of the Corporation, therefore, lies in the hands of a group of men who have provided the initial capital and whose only opportunity for securing the return of their capital or a profit upon their investment de- pends upon their continued efforts so to direct the affairs of the Corporation as to insure its success. BOARD OF DIRECTORS Cay Wirrine Raxaw, Montclair, N. J. Secree lary of Lne Cor povaiion, Gew. Dewvis . Cowa beth, N Presé o, Poopie's Neivonsi Do, Eroos, N. . Cuiwvon CoLiven, New York, N. V. President, Americon Alsesseirom o/ Analysis, New Y ork. M, C Pe boy, N. J. Presidens, ot ey Nakiomal Bonk™" ) 2 Joun J. Conm, Deal, N, J. Treasurer of the Cor- poresion. TSN V‘n;u D'Atoia, Newark, N. J. KoJudge and ] TTh lwsey Cuy, N. J. DALI.N N. ], Presideni, Davia - « Newark, N.J. Wi Dumony, Pa L N1 G Yare, torsen, J. Corporation . J. S.D.L €. Cert " AUII) TORS : h_fim‘:v.:u‘\‘l. artided Pubic A scoumtans, , Paterson, N. J. my, Palerson. . N.J. Juué‘("..n‘r):mnm.]. Secrviary & Treas o, N. . President and R s N J. . _:n:v mecmu J. M’-- Arhiagton, N. J. Srivesren N. 'nm"x..u- -] Choirman ‘Lfl J-‘I.-I-AI,WN. J. Corpovation h AcoR M N N Bresiden, L ur*m‘mr?l)a-lup. A P Muenwo, Newark, N. 1. Cladrmas of e Board of Hawsou, Van Il'lnlh’a-l ua-.-.'n;. Seiroer, Lond Bt & Tl Wik Nowwrt . 374 S:llgnlmmh—nlu.mvua-\ W New Jwsey. i Car Peimm b, T ex C. Surwe, idge, N. J. 7 %0, Basking Ridge, N. J. Presk e & Wi Noop g 13- - Rosear W, Woowwer. Moatcair, N. 1. View wdry Co. Kearwy,N. J. zn”dp:lzin of the Cumulative Preferred and lnvestors' Common scocks in this inves@ent trust will seeve the dual purpose of providing additional ations aeeded by vestment. A income and of market Price $150 per Unit and p.“luhlo Nrm:i:d-um.np‘d‘\-ll prowide investon with ao uawsually secure collateral ine direct with clieat compaaics, and free from the uacarainty quwhkllhlwmhmm-unmiyw 1 Share 7% Cumulative Preferred 4 Shares Investors’ Common Subreci 10 advance withou! noviie. Connecticut at K 'lmluAnfldm&d&mdhfid”hfl-fi?ummdfimmdhw‘ X bel y December i chon o s D o o e o o e e e Write for Cireular No. 1 B ¢ NEW JERSEY BOND AND SHAREHOLDING CORPORATION AW Invaaruene Tavsr Davoren 1o 1 Tevaaners or Nuw Janser Deoveraiss ave evasvoss 81 100 99y 45 102 101% 101% 3 98 s 101% 2 106% 106% 106% " ¥ 1094 Losw 108% 6100 100 100 VenniieePo: 2 107% 1074 107% o Uudied Droxess . L1004 0T WIN| QUBBER ADVANCES, 8 Hub tet 4 (8 Rub 7iks 6 108 103% 109% | NEW YORK, March 22 (Special) — (1 8 ioot of 80 71 Low 108w 109 | Orude smoked ribbed (Jtah Pow & I. 26 1024 102% 1024 Vertientes Bug Te,, 1 100 100 100 B 1044 J04k 1044 our Intensive study through well over a Third-of-a-Cen- tury. Our efficiency is based on earned experience, And all our owner clients benefit thereby. B, F. SAUL CO, Main 2100 925 15th St Bkelly Ol 6440 Southwest Fell s, | 81ang 01 N J bn 48 ' Sux Kast Orie | o s NEW JERSEY j compares with 30 Wm Ill“%lifll'll.o. i Washington Office 218 Barr Building—Telephone Main 3743