Evening Star Newspaper, April 5, 1929, Page 15

FINANEIALS S mn'mme STAR, WASHINGTOY, D €. FRIDAY, APRHJ 5, 109" IS B(}flfig FIRMER | Cocmee som_BONDS stoc sxcuava] [WARGH AUTO OUTPUT | [r=——"—""7] .....stcx el g2 | Buck & Company IN EAS' ER ER[D" l«’:::r - 2’.?1.5* 3 Pacifé Gas & E1 "m:;. f'.:: nl::u m Advance of 20 Per Cent Indicated. \-Complete § e i “‘StPGI'Chi Boé’dt: % Libatn... 100 DTIT P12 ST1T | oae iy Poth Hit 13: }:‘fi' February Exports Are ¢ “"fu:lu: m !at:' . Mort o lew s Write or .:ntv weekly m?m?:m el Investment AL Eay (80 gage hetsin i le'!!""l 5 13 9% '3#. A ) eord, % e Price Changes Prove Negli-| G2IXiii. % wiase sials sioas . 5 it : 3‘\ \Service Tyler & Rutherford ||| JAMES Y. PENNEBAKER ||| BUCK AND COMPANY f f ; HE LR, 20 SRANIIREN A00200 9 9 =91% | spectal Dispateh to The Star. ry Representing Mutual Benefit Life ins. Go. ' : 1020 New Tor Ave gible Despite Drop in FoREIGN ¢ g;t‘ 'NEW YORK, April 5.—Production of 1520 K Street Main 475 Main 5328 1520 K St. N.W. Frankiin 7300 figh. Low. Close. 991 l'l‘mr;lun- ;l;wmobuet %:mp:)ulesm!vt:r [arch was per cent above tiw - = Call Rate. Arzomlnclllu'lb 'S5 08 ssu » 99% i i onth o Tecrd amoiig < ¥ i i ., units, according to #gUres ILLET Jed by the National Automobile BY CHARLES F. SPEARE. 5 Lsin 81 99U | CoBled, B e st relosad &5 BANKERS Skelly 0'; "1}* " its meunl of directors here yesterday. INVESTMENT BUILDING Epecial Dispatch to The Star, & South B NEW YORK, April 5.—Developments ] 26| Southwest 214 1021 iy By ety et c':;‘:;l::“:m WASHINGTON, D.C. in the credit situation today did very E Stand O1f 2 2 in 5 phem R SR R & L EREE (R SIS ReRaERR | | Wl ARANTEE YOUR FUTURE to support the price level, which was 2! 3 SugarEsiUriente7s. Y t/ Penn’nry motor vehicle export figure: ‘ A o s el avtt cotih e . 97 TennElecPow 65 47 %|from the United States and Canada, 26 for domestic issues. M’(’;fifled States Go- nment l}onds m:g g:}:::: 2:“ v 8 9% ’Ggucm'l:fll.‘.':- 99 " I S S it Y;£°sp?1x:§‘«'n$“}5‘r’c’.§ them | Eelgium 18156 % 107 by . :Edmh-;:efigl‘:;:gg:fihflin pm;- H l q E: W ’ A F E W A ‘ 5 i Bei 8 ¢ 4 oL 4 e T b A L 1;'1 ; 3 Ugsteel st : % 108 11925, with 60,681 units. The previous grade Taill§ ana public utilities there | B Uthitties Powr y i d 6 T 3 ® | Belgium s high’ month was February, 1929, with uarantee i 3 - % T i o A ket past. | BOlwIE 0t/ Tk bl 9o | production of 497371 unils b"‘g ”“"{ | G % HUNDREDD of salaried men and women who prior to a few - b= -4 % * U that e record was hel ugus! » v tion of the individual issue. oo tn: { Warner Sug 78 4 5 108 11998" Wit 492,543 units. Ths is the F irst Mortgage 2 months ago had never saved a cent are now regularly laying With call money tapering off from | BOTASILE 8. West Klec bs. . ; ! fourth year in which first quarter pro- 2 fcsrh heck t d the purchase of safe and 12 per cent on Tueadny S0 § Jet Pentopeen pile sty p o | Westn Union duction figures have passed the million \ Notes aside a part of each pay check toward the pu today for renewals, sentiment was a|groc., 75 4 +| Westn Union 6%s. 108% 108% | pavie d Balile T M Note, d by us and secured bv trifie better. It cannot improve greatly | piaz) gu. Oove | White Eagle O 5%s 2 1024 102 102 |™RUE o 0 0o foures for 1028 and ependable Iirst Mortgage Notes issued by u until there is a definite change in “"»Bremm State 7 Willys-Ov 6%s33.. 5 1018 101% | 1990 " units, follow: 1mpraved real estate in Was}ungton. Persistent Invegtment quotation for time loans, which stood | Wiison & Co 1st 5. 4 100% 100% 100% | 1028, 1929, today 1 per cent above the call rate, | Cavada 5s1931 WinRepeatAr1%s. 1 107% $09% | damuary - 2 Secured on Income- Saving is the only sure way that Future Financial Independence District of Columbia and may be achieved. a 3“39(?;:;;9":’;? cl,vfiffde‘fif,?é‘ ':Zaf??; E::;g: gsu.l:? 255 Yngstn S&T 6s wi. 41 100% T 30,300 Producing Properties in the RAILROAD. w0 T POT 9 Atchison adj 4s.... 20 B4% 81} TRANSPORT LINE FORMED. Nearby Maryland In nearly twenty-three years of Investment Relations with Wash- e i NEW YORK: Aptll b () - Emiest H. | * ington men and women, we have seen hundreds of worth-while estates in" Atchison 415s at a fractional ad- | Shile 65760 vance. International Telephone 4!2s o | Atch deb 434548 3. | Miller, president of the Yellow Taxi | . Atlantie C L 1st 4. Oorpm'aaon of New York, announced District National built by the aid of our Plan of Investment. & had an opening decline of a point, which was recovered later on. Anaconda AtlanticC L el 2 today organization of the Parmelee P s Atiantic OL 4%s 64 37 Transportationt Co. a5 the nucleus of & Securities COI'P- Amounts as low as $10.00 a month can be lpplled’ to- the purchne ::g::?lodu 5 '&'fifi“&;fl’;"m’me B Suite 303-307 of our First Mortgage Notes—a favored form of investment which is B & Oref bs. 2 %! The new company, he said, will ac- Telephone Main 2994 secured by Improved Real Estate in Wuhmgton and which yields an ] B & O 55 2000 D, 4 quire control of the Patmelee Transfer P B&O 1st6set 2 Co. of Chicago and the Yellow Taxi District National Bank Building annual return of 6%. B & O rfimp 6 . 1 & 9 | Corporati York as well as a B&OPLEWY 45,1 3 auk;?&l:u:pu?{erfis?lin the Chicago Yel- You will do well if you would enjoy absolute freedom from financial il alnbipic o TS U GRb [Cac 10 expecl, JJn | Sme 0 worries by selecting these tested investments. Accept the precedent g?;l::ly.&h;l:.v i.:. i | cabs ln‘;: b‘:zxs?: Tt ope 5 set by experienced and successful investors—purchase these notes know- o NOTES ing that their safety is absolutely assured. Py 2 Chinese Gov Ry § ] Colombla 65 Jan's1, Cdpper 7 rose a point, Commercial In- | S/ S8 TA0/8L. vestment Trust 5l:s declined 1 point, | & showing a_discount of 10 polnts from | GoPenhagen be ot the offering price. Czecho 83 195 Local tractions were heavy, includ- | petio At (U] ing fractional losses in Brooklyn Man- | polane o hattan Transit 6s and Hudson and | SRT8C: 0T s Manhattan incomes. Following the de- | pich Zo8t 7 08 &) cline in the Cuba Cane Sugar 7 and | g2 7¢ war 46 8 per_cent convertibles to & new low | gt 23 oL KO0 level there was a loss of 3 points ini . piangsis. .. .. Antilles 7!5s. The drop in Cuban gov- | a8 B E <20 ernment 5155 to par was related to the | gy an 35 ¥ general economic condition in Cuba. | s B8 8 oo Among the rails an advance of 115 | p T points in Seaboard Air Line adjust-|granch 715s: ments and a firmer market in Missourd | et B g ig Pacific 4s and St. Paul adjustment 58 | German 7s. .. was reported. Ger Am Bank 7 The foreign list was rather ragged. |Ger Gen Elee with fractional declines * in French, | Greek 6s 1968 German, Japanese and South Ameri- | jaiy 6s cans. Interest was taken by specialists | Hungary 7348, e Brookiya Elec 6%48. 17 4 Lot e Ri t e L Y Bkiyn Un B1 58750, POTATO MARKET DULL. Bush Tarmcol &y, s s CHICAGO, April 5 () (U. S. De- e FIRST MORTGAGE NOTES Can Nat 4%s 30, partment of Agrsculvun;‘.—zl;r;tntfizsa; Seekrol ¥p Gan Nat 4148 o1 new Toial U. 8. shipmenis. 623 cars. First Mortgages Secured by Improved Real Estate in the Nation's g Capital—bearing interest at the rate of 6%. Issued Canad North 83, Trading almost at a standstill; market f by it '$100, 5250, $500 and $1,000. Canaa Pac deb 4s. nominally unchanged; Wiscorixin sacked Safc—Can.rem'ahve in demominations of ), ), an 000, in this depastment in the reference in 100 1003 Can Pac 4%s 4 round whites, 50a65; Minnesota .'na the Federal Reserve System statement |[taly 75...... 93514 9514 o5 | Cert Pac 1st 58 90, North Dakota sacked round whitcs, iof Make your savings 42 Years’ 1o the drying Up of forelgh “fnancing. | Italian Pub S 7s. 911y Chesa Corp bs w 1. sales 55a60. New potatoes—Texas Sac) and surplus funds : This hias Deen due not. SRy, to money | Japavese 4s. f 2 2 Ches&Ocvals ed Bliss Triumphs, No. 1, 3.50; Floxida, work go¢ (sou. a4 Experience canditions, bt to the Task that pur- | Japanese 614 4101 0 52252851),‘,";3,\ 3 barrel, Spaulding Rose, No. 1, 6.50. ', the highest-inter- in finsneins chasers of new foreign -issues- in the | Kreuger& 98 9% 1Cni B&Q gen 4s53.. oo TR g est rate consistent homes and in the Ei“r‘fn;‘é??n}l?}'fn? ;?ac‘t?ca‘l‘l‘;‘zh:lx;pgf the 99 99%!Chi B & Q 1st re bs. SHORT-TERM SECURITIES. :;:".lblolule :::u:: these se- bonds bought on syndicate offerings 7 e Hiseitad b 3.0 W), el since last Spring now selling at heavy CM&StPgn8d... Allis-Chalmers Co. 5s 1937 i "xq - Flrst Mon age In st R 52| Wm. H. Saunders Co., Inc. gage Investments o ChiM&sStP414sCSs. 2 93 - of Amer, 0% 101 SEEK LOWER MONEY RATE. st apaaspait. 12 o Apaconds Gorpes, Mip to 1 i Telephone Main 2345.. 1435 K Street Northwast i N CMSP&Pacadj5s03.106 73% i T L REALTORS NEW YORK, April 5 (P—wall| Norwayinises.... 544 | Calltarmin’ pet. Gorp. S1as 1038, 100 v U3 K Street reasons that continued high call | {OTway S¥a... Canadian Nat. Rwy, 4758 1830 Main 1016 money rates are likely to send many | Lo ’e 43.. 100% ¢ 9 n wy. 4128 1 - holders of securities to their bankers for | ROTTAY 68 1044. g y Chleasos Rock Toand 41 7 v o TR e Toans and that this in itself ‘will serve | gOrwaY 6% 3 1952 101% 101% 3 y Chile Cooper Co. s 1947 96 | —— to decerase brokers’ loan figures. March oV 515857, 864 3 v | Dy P acking . ;,'7_"';; 9815 987 2% 92% | Gen. Mot. Accep. Corp, B 1937 93'4 General Pet Col s 1944 86% Goodyear T. & R. 5! 1!57 Y Grand Trunk of Cnnnd 85% of Pa. 8 1937 0 Gulf oil i CCC & StLrf 68 A, 1280 124 | ClevTerm 5% s Cuba R R 68. Ly Cuba RR 7% 5% Cuba Nor 5%s ci Del & Hud 6%S. .0 Den & Rio G en 4., D Rio G West 5s... DR G & Wst 5578 Det United 4%48.... EastTennVa&Ga 55 Erie 1st cons 4. Erle Gen 4s. . Erie conv 45 B. Erlecvt 5567 w1 @ N B G e e e Rl B o~ g 2 o @ BrarxBSeniannnBnan a3 o s KERomrh e R R R e Paris-Ly-Med 6: Paris Orleans 53 s.. Peru 6s 67 w 1 Peru 6s ctfs. brokers’ statements showing interest payments at the rate of 10 per cent were something of a shock to traders and caused them to look toward their bntnkcrs in hope of borrowing at lower rates. ey Bk L TSR & 5. \ A0 - Sk i Bt ‘o 55 104 g S 0,000 ares : ~ Second Southern Bankers Securities s w: B : Corporation 2 CAPITAL STOCK . Sales. High. a . e Tol Tr L&P 5% s 2 99% 9 % No Par Value 3:23&733? S ata 5 68 " 6 b Tmnsfer Agent and Registrar, Union Trust Company of Maryland, Baltimore, Md. Union Pac st DHlee B T i CAPITALIZATION To be presently Virginia Ry 1st 5s.. 14 102 Authorized Outstanding Whash 4%s T8 rets. 2 86 : ! Capital Stock (no par value).. 200,000 shs. *30,000 shs. Wabash "‘12'5 11 102 101 Wabash b ae 7 Wabash B:As 75 16 100% ORGANIZATION AND PURPOSE: Second Southern Bankers Securities Corporation is being organized under the laws i Lo e b L R e iy Ry of Delaware to operate along the general lines of an Investment Trust, affording Western Pacific 55 11 s individuals opportunity to participate, through expert supervision, in diversified investments and underwritings which West Shore 432361, 8 5 might not be available to them as individuals. Wilks-B& El 1st 58 1 = This Trust will have the same officers and directors as the Southern Bankers Securities Corporation, who will pass upon all securities purchased for the Corporation. The directors will receive no compensation for their services as such, other than through their ownership of capital stock in the Corporation which they have purchased at $50 per share, and each Director will receive a three-year warrant entitling him to purchase 1500 shares of capital stock of the Corporation Thoughtful at §53 per share. The Corporation will, upon full payment of the temporary certificates, receive from the proceeds of the sale of its Typo graphy stock $1,500,000 in cash, arising from the sale of 30,000 shares of its capital stock; and as the underwriters will pay all organization expenses, including the issue and distribution of this stock, this sum vnll be net to the Corporation. The Board of Directors is composed of : character and i sirbieter =y C. PREVOST BOYCE CLARENCE K. BOWIE W. O. PEIRSON 7 . Member of Firm of Stein Bros. & Boyce, Member of Law Firm of Bowie & Burke, Tice-President Usiion Trust Co. of Maryland, of your message is important. H Baltimore, Md. Baltimore, Md. ‘Baltimore, Md. Qur business is to make that HEYWARD E. BOYCE JAMES BRUCE JULIAN S. STEIN message attractive and easy \ President Drovers & Mechanics National Bank, Vlu«lnlkknt ¥-«bul Park Bank, Member of n--ln of Sfinl :.-. & Boyes, to read through the skillful i Baltimore, Md. New York City. - use of type faces W. GRAHAM BOYCE J. EDWARD JOHNSTON MILTON S§. TROST ‘Vice-President Union Trust Co. of M Member of Firm of Stein Bros. & MtMPflflrfi B s it g it R ks Pirelli 7s ‘52 Poland 6s 40 Poland 7s (rcts). BUILDI;G ACTIVITY GAINS. |Poland8s.... h NEW YORK, April 5 () —Heavy|30ns!and s construction operations are likely to| Rhinelbe Un3...... Told at a high level for some time to| RhineWst KP 6s'52 come, based on the volume of new work | RhineWst EP 6s'53 that is being announced in most sec-| RhineWst EP 75'50 tions of the country, says the McGraw- | Rio de Janeiro 6%s Hill Construction Daily. Value of pro- | Rio GrDo Sol 65 48 posed work announced in the past week totaled $132.500.000, compared = With|Rome 6%S. ... .. 65,000,000 in the corresponding 1928 | san paulo City 8 period. Continued activity in big build-| sso Paulo 8s 193 Erfe conv ext 7s. ing construction, residential 2s well as|Sao Paulo 1950 Fla Bast Cos 78, commercial, is reported in the 1arger'saxon (PW) is. 6 6% | Gr Trunk stdb 68 cities. i Seine 7s 42 274 | Grand Trunk is. TR e s st ) S:r:lcrslfl 7s, Y It 4 |Gt Nor 4%s 76 D 2 rbs Crot Slo 8 9 Grt Northn 4 %s Washington Stock Exchange | Si.coac’,” : Great North 6 148 SALES. v 5 2 2 Great Nor gen 7s. Washington Gas 65 “A”-$300 at 10215. | Swies f12s 154 [REE Wy Washington Gas 65 “B"—8200 at 1035, | Swiss Confed $500 at 104%.. Toho El Pow 7 6% 9 Potomac Electric 6% pfd.—5 at 1114, % Hud & Man ret Washington Gas Light—10 at 110%%. b sore 111 Cent ref 45 Barber & Ross com.—25 at 20, 75 8t 30, | 1¢a Kingm 558 & ¢ e | 111 Cent 43 52 100 at 20. ¥ Utd SteamCopen 6s § 4 111 Cent 45 53 Chevy Chase Dairy pfd.—5 at 106%. ; : it o 1li Cent 4% Mfl;c);;nks‘ Trans. & Storage com.—10 6 12 5 {“v.CA::‘tcdh:l“‘“ at 127, — Al o] nt Rapid Tran 65, Mpeotintie Bitstrps a0 nt 300y | S Sem L 3 WY Int Rap Tr 68 8tpd - Ter. Rel. & Whrs. Corp.—30 at 51. MISCELLANEOUS. int Rapld Tran 68. AFTER CALL. Abram&Straus 5%s 7 110 109% 109V }"{:}‘."}q"""fl"" i Columbia, Sand & Gravel pfd—10 at ARIRA s an w8 200 100N Eavn Int Kys C A 5473 umbia Saa ravel pfd.—10 at|,p AcriChem 7358, % 1047 1047 Y et 9115, 10 at 913 " Int Ry CA 6%sret, , | Am Chain 6s°33. . 9 Potomac Electric 31 % pfd—3 at 107%. | Am Conton o1t 3. . ; 984 | Kan City Ft S 4s 3 Am Int Cor 538 '49 3 104 | KansasCity S 3s. Bid and Asked Prices. Am NatGas 6% 42 15 3% 75 | Lake Shore 45 31 BONDS. AnSmit & R 13 100% | Lehigh Val cn 4s. PUBLIC UTILITY. Am Sugar Ref 6: 104 | LehiVgen 4%s 2003 offer. | Am T & T cl tr 4 39% | Louis&Nash un 4s, :m?rv ;pl} fi,'g_fl]:n. 4":»., . g& 4 . |AmT&Tel tr b 28 102% | Louis & Nash 58 Ame Tel " el el tr. 5 T 1007 |AmT&Tstbs 3 102 2 102% | Louls & Nash 7. Anacostia & Pot. R R 5 Am Tel & Tel 5 Y 105 | Man Ry 1st 45 90 © Pot. guar 5s.... 3 Am Water Wks 58 98 | Market St 78 40. ... S % | Telenhome . 1% | Anaconda 1st 6s. 3% 104 | Mil EI Ry & L 65 61 g?;_n’-‘l s’rrbacr'lflon };. R. 8s. 29 100 An-mnd;ccv d*b 2 233% 233% | Minn & StL ref 4s.. 1 uburben 55 g Armour&Co4 % Minn & StL cn 5s. . o g N L 102 | Armour Del 5% S M St P&SSM cn 4s. Potomac Elec. Corp. 57. 100 Associated Oil §s. 2 2 2% | MStP&SSM5s38gtd Patomac Elec. 6s 1953..... $ |AtlGuirSss . M StP & SSM 6% o I DI s Atlantic Refin s, % 1007 M K & T ad) 63, hington Gas S5..... i Bell Tei Pa 58 B 103% MK & T prinss A, ashington serfes A 3" | Bell Tel Pa 5sC. 5% 105% Mo Pactfic gen Y ninston 0% 7 | Bethiehm Stl pm 6s 5. 100 Mo Pac 5s A 65 Wash. Rwy. & Elec. gen. Beth Steel ;S,,h':" frad Mokas k¥ I, e eth Steel 514 b ¢ 1 0 Pacific 55 G 78, i Bethlehem Steel 63, 14 103% Barber & Ross. Inc. 6la: Nash Chat&StL 4s. Cham-Vanderbilt, mml 100 | Certain-Td5%srcts 2 70 NOT&M5%s. Chestnut. Parms Dairy 6a: 0872 2 | Chile Copper b 16 95% N XY Cen len l* Chevy Chase Club 5'zs haaee o P D.(C. Faper Mic. 65 a4 Colon Oil 63'38. Boten Wi "ot Bioreke o0.11. 08 Com Invest 8% 49163 N ot iny s "ol age 28 ..s-- | Com Invest 5%s " 4 NYCrfim4%s... Wash. Cons. Title Co. Com Invest 65’48 9. 94 94 IN: )'( tem rt 5*' STOCKS- 9 N'Y Cent deb 105% 1054 | NYC & StL deb Consumers Pow 2 101% 101% 101% | NYChi&StL 6%sA. r. Tel. Telga. 81, "9¢'" | Cuba Canecv 7s. 66 66 |NYC&StLEsA.. 1l Cuba Cane 8s. 64 64 |'Now Haven 48 6. Cuban Am Sug 100% 100% | Ny NH&H db 48 57. B K 3 Denver Gas 5s. 2 100% 100% I'N"Y'N H & H 44 Wash. Rwy. & . 500 “* | Detroit Edison 6: 106% 106'4 | Ny NH&H cv db Wash. Rwy. & Flec. pfd....... 97% 4 Dodge6s..... 99 99 | NV Hys 6866..0.. NATIONAL BANK. | Duquesne 435 67. 98% 994N Y State Ry 448, Gen Asphalt 63 36., 10 105% 105 105 Gen Cable 538 °47. 18 o 195\»: - P Gen Mot Ac Cor 6s. 3 1% 101% | Norinérs Pacific 43, Goodrich 6%s. . 3 4 106% 108% | Nortnern Pacri6s, 11 Goodyear 5ls‘reu. e 32 loz» 9214 { Gre Short L rfs 4s. 108 : 11 5s. . 0 . | 2 P A ntis, FFrofits bod By U el : INVESTMENT RESTRICTIONS: The Board of Directors shall not approve any securities for investments that ill. N-nonu 1 Illinols Bell 1st 5s. % ¥ Lo conflict with the following restrictions: REE sfi‘rfir So;mmc?q“ ::;T::.'- Bs‘::.lx.s 3-& 0 9b% % 106 1. Not more than 10% of the resources of the Corporation may be invested at any one time in any one enterprise . * or in the securities of any one corporation. Continental Tru i3 Inland Stl 4%s '78. % ot 8 9844° 90% 95 | ponaarl ,.f 4sbe.. & 2. Not more than 20% of the resources of the Corporation may be invested in the ucurih- of any one country Merchants Bank. National Savines & Triit. 9 ot 10 Washington Lo ks 4 ml 101 101 - except the United States. VINGS BANK. 5 JPCC&SLL 68 B 7... ! mm “ P Shvmvos » 3 | Portiand 1 P L 6: Bank of Bethesds : ; s 26 9% % ’3,‘ Port RL&P5S42: 2 9 At L : / ‘ Application will be made to list tbis stock on the Baltimore and Louisville Stock Exchanges, 93% 9. Int Tel&Tel muvmsmu 126% 126 "‘"‘RLP""" Kan City P& L 6s.. 1 10 91 i This offering is made subject to allotment or prior sale and in all when, as and if issued and accepted Tnited States v rlighey vt i i ‘ 1 86%. by us and subject, to lppi::l.l of Mesers. Bowie & Burke, Counsel. Payment for Stock will be as follows: Washington: Meehanics g_:';z;fl“;';:,::;;‘ 5% %gu Property if You 25% on delivery, subsequent calls to be made at intervals of not'less than two months zn 15 d.yn’ notice, FIRE INSURANCE. i it Fliatbady | 993 ., Leave No Will? .u..l e call to be made for more than 39» of the purchase price. P-ymu in made in o5 s vy o sqlo-rd 6 99 99" Hundreds of men and 3 Gz“ilnmfin b:n.l:nat ls, ey ‘excess payments, Te qufieuufor Laclede G 5%s 52 ¥ ll)}“ 108 SIL&SFDI4s A« 4 81 Ve mmfllgg:"}lw% Price $53.00 per share DESCRIPTIVE CIRCULAR UPON REQUEST fisgott A Myara7a. 10 118 118 su“an“}‘:". 3 STEIN BROS. & BOYCE Loews ine ety Aileontn . 4118 76 Prvic iy 101 108% S mem Al {1 g : : - Woodward Bldg, Washington, D. C. 1105 1006 1084 Sou pao unay..o ot 21 098 ; T, : ‘ : : P faw 10w 17 mese. 3 b : ; ; } . Main Office: Baltimore, Md G ::f*mmnuflw 9% ] ; § : ; : ?-:.; AL g % 2 5 ; HRIE S g mmmm#m_&h-hm-hmu“ e "BA. : : 3t Bt 3k e SR ceBhownunhicrmicSehos weesBean 18- ooy w» PR RA RO R BNNDER® A R SRS * BYRON 8. AD AM S MANAGEMENT CONTRACT: The Southern Bankers Securities Corporation has purchased a substantial amount of the Capital Stock in the Second Southern Bankers Seeurities Corporation at $50 per 512 Eleventh St. share, and has entered into a Management Contract with this Trust under the terms of which Southern Bankers Securities Corporation will receive no compensation unless the annual net realized profits of this Corporation (as defined in such contract) exceed 8% on its stated capital (as definedin such contract). In any fiscal year in which the net realized profits exceed this 8%, Southern Bankers Securities Corporation will be entitled to receive as a management compensa- tion for such year an amount equal to 20% of the net profits, but only to the extent that the payment thereof will not reduce the net profits below this8%. The requirement for the annual earning of net profits of 8% shall be cumulative 80 that if, in any year, the Corporation shall fail to have net earnings of that amount, the deficieley must be made good in uubnequent years before the Southern Bankers Securities Corporation mll be entitled to receive any compensation. Each member of the Board of Directors has had long and successful investment experience, and therefore these men are able to give highly specialized consideration in the selection of the Corporation’s commitments. s 19 Bo uu.gum.a.a-u o -1 EEIEE TR LR EARNINGS OF SOUTHERN BANKI!R,S SECURITIES CORPORATION: The earnings of the Southern Bankers s Securities Corporation, on its average in- vested capital, compares very favorably with other American Investment Trusts, as shown by its recent statement. The Corporation has been able to earn an average well in excess of 12% on the average capital invested since its criginal incorporation, and Common Stock of the Southern Bankers Securities Corporation which was first offered less than two years ago at $7.50 per share is now selling at about $55 per share on the Bllfimdu Stock Exchange, approxi- mltely Ty times the original offering price. @1 - 'h their rty would buted F they died ine . Louisv G & E 6s 52, Midvale Steel 63.