Evening star. [volume], January 25, 1923, Page 27, Image 27

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
SEABOARD 111
CAR LOADINGS GAIN
Up 38 Per Cent in First 21
Days of January—D. C.
Firm Changes Name.
The Seaboard Air Line has made im
provement in number of cars moved in
the first twenty-one days of January,
as compared with that period of 1922,
an increase of 72,000 to 100,000 loads,
or 38 per cent. The increase covered
all commodities, reflecting general im
provement in the south, both as to
goods purchased and products shipped.
Cars received from connections were
16,563. against 1 1,949 in 1922 period, or
an increase of 38,6 pier cent, while
18,568 cars were delivered to connec
tions, as compared with 13,989 during
a like period in January. 1922. or* an in
crease of 32.7 per cent.*
Kstimated December gross was
54.370,000, the largest December gross
in the history of the road. This com
pares with actual gross of $4,223,461
in November, 1922.
By the close of February, the 7,100
rebuilt freight cars and 2.750 new
ones, scheduled to have been added
during 1922, will be in service. With
these additions the Seaboard will
have about 18,000 owned freight cars
n operation. The twenty-eight new
locomotives purchased during the
past year give the road ownership of
about 600.
Company Changes \nme.
At a stockholders’ meeting of the
Automotive Finance Company yester
day it was voted to change the name
of the company to Union Finance
Company. The purpose of the action,
it was explained, is to enable the com
pany to broaden its scope of activity
by the addition of all kinds of com
mercial accounts. At the same time
the stockholders ratified the recent
action of the hoard of directors, in
creasing the capital stock from
$250,000 to $1,000,000.
The new stock, it was said, will be
offered in units of four shares of pre
ferred, par value, $25, and four shares
of common stock of no par value.
Since its organization, Auguct 1. 1920,
the company has paid ten quarterly
dividends.
At the annual meeting of stock
holders. four new directors were add
ed to the board, namely, Wirt Tay
lor, Sefton Darr, E. M. Willis, jr., and
James M. Place. The following direc
tors were re-elected: W. M. Ward.
Lee D. Latimer. S. M. Marks, C. A.
Hurst, Francis W. Hill, jr., William
Brayshaw, L. M. Johnson. Horace O.
•Smithy and William E. Richardson.
Following the meeting of share
holders, the directors organized and
• lected the following officers for the
ensuing year: President, W. M.
Ward; vice president, S. M. Marks;
treasurer. William Brayshaw; secre
tary, c. A. Hurst, and assistant sec
retary, A. M. Roth,
More Prnnny Stockholder*.
Total stockholders of the Pennsyl
vania railroad on January 1, 1923,
amounted to 137.429, an increase of
7.332 over December 1, 1922. The re
port for December was the second
month to show an increase after
eight consecutive months of de
creases. The January’ 1 figure is 4,270
below that of the corresponding date
a year ago.
Average holdings on January 1
were shown to be 72.65 shares, corny
pared with 73.05 shares on December
1 and 70.47 shares on January 1, 1923.
Os the total outstanding stock 31.27
per cent is held by women, an in
crease of 27 per cent over a year ago.
Woman stockholders numbered 66,-
225. being 48.19 per cent of the total
stockholders.
National Mortgage .Statement.
The net earnings of the National
Mortgage and Investment Company
as of conditions at the close of busi
ness December 31. 1922, totaled $142.-
917, according to a statement issued
by officials of the company yesterday.
The net balance at the close of the
year was $137,820, as compared with
$16,861 on January 1, 1922. The
statement shows cash on hand and in
the banks, $172,831; first trust notes
receivable, $351,274; second trust
notes receivable, $893,867; stock is
sued. fully paid. $915,700. and stcok
subscriptions, monthly payment plan,
$1,159,390.
The expenses for the year are listed
at $20,311. The corporation last week,
it was announced, paid its third divi
dend. amounting to $47.693.64.
I Investing with S
Confidence — y
If you will look into this . ►
issue of Gold Debenture Bonds 4
with their 6 c fc interest pay- ►
shin quarterly—and consider i
the possibilities under the rer- ►
tifirste issued with them - 4
offering participation In the
profits of tho company up to 4
SCe—you’ll he impressed with a
the substantiality of the in- J r
vestment and its earning ex- <
pectations. , r
The Bonds may he bought . ►
in SIOO, SSOO and SI,OOO de- 1
nominations—with payments of ►
purchase conveniently divided, 4
If you wish. $
Get our detailed circular. , ►
Commercial Loan and < .
Finance Corporation < >
Bond Department—Room 200
Phone M. 5872 W
921 15th Street P$.W. C
LOANS
If you have money to
invest, we can safely
place it on gilt-edge first
D. C. Mortgages. Our
record of 30 years insures,
your protection. Courte
ous treatment.
Percy H. Russell Co.
S.W. Cor. 15th & “K” Sts.
First Trust
Notes
We have for immediate deliv
ery gilt-edge note* la denomi
nations of S2SO, ftSOO and 91.000.
temred by lint deed of trust on
a beautiful new building lo
cated near 19th and Belmont
Sta. 3V.W.
We can highly recommend
these notes as a sound, con
servative investment. The rate
of interest, «H%, la exceptionally
good when the location of the
property, the character of the
Improvements and the high
margin of safety la taken lata
consideration.
We wilt gladly furnish full par
ticulars to interested parties.
Moore & Hill, Inc.
1420-22 H St. N.W.
'FTNAWCIXE.'
Washington Stock Exchange
SALES.
Lanaton Monotype—s at 79*4.
AFTER CALL.
Lansfon Monotype—s at 70*4. 5 at 79 1 4.
Money—Call loann, B and 6 per cent.
BONDS
Bid and Asked Prices.
PUBLIC UTILITY.
Bid. Anked.
Amer. Tel. A Telft 4s 91*4 92
Amer. Tel. A Taiga. 444 s 10114 102
Am. Tel. A Tel. ctl. tr. 5» 9844 99
Am. Tel. A Tel. conv. 6s 11544 11644
Anacostia and Potomac Bs 88
Anacontla and Potomac guar. 3a. 88 .....
Chesapeake and Potomac Tel. sa. 97
C. A P. Tel. of Va. 3a 93 9444
Capital Traction R. R. Ba 97*4 9744
City and Suburban Bs 8444 86
Ceorgetowu Gas Ist Ba 81) 00
Metropolitan R. R. 5s 97
Potomac Elec. Ist Ba 07 08
Potomac Elec. con*. 5» 97 9744
Potomac Elec. deb. 6s 0944
Potomac Elec. Pow. g. m. 65.... 99T»
Pot. Klee. Pow. g. m. A ref. 7«.. 1064*» 106
Wash., Ale*. A Mt. Ter. 85.... 28
Wash., Ale*. A Mt. Ver. ctfs.. 29
Wish., Hallo. A Annap. Ba .... 7644 7744
Washington Gas Ba 94 95
Washington ttas 744a 10344 105
Wash. Rwy. A Elec. 4s 7214 72A4
Wash. Rwy. A Elec, g. m. 65... 9944 100
MISCELLANEOUS.
D. C. Paper Mfg. 6a 80
Riggs Realty Bs (long) 93
Higgs Realty Ba (abort) 98
Security Storage A Safe Hep 6s. 93
Wash. Mkl. Cold Storage 55,,.. 96
Wardman Park Hotel 6s 100 10144
STOCKS
PUBLIC UTILITY.
American Tel. A Telga 1224*
Capital Traction 1034a 100
Washington t;as *3B 57
Norfolk and Wash. Steamboat.. 195 .....
Wash. Rwy. A Klcc. com 6844 **44
Wash. Rwy. A Elec, pfd 7544 7544
Terminal Taxi com 78
Terminal Taxi pfd 864*
NATIONAL BANK.
Capital 190
Columbia 225
Commercial 14844 150
District 170 180
farmers and Mechanlca’ 240
federal-American 190
Liberty 127
Lincoln 230 .....
National Metropolitan 232 200
Riggs 540
Second ISO 160
Washington 195 210
TRUST COMPANY.
American Security and Trust... 285 30*)
Continental Trust 90 92
Merchants' 127 140
National Savings and Trust *3OO 320
Union Trust ' 143 150
Washington Loan and Trust *317 825
SAVINGS BANK.
Commerce and Savings ISO
East Washington Savings 17
Security Sav. and Com 240 200
Seventh Street 170 .....
United Savings 270
Washington Mechanic* 30
FIRE INSURANCE.
American 220
Corcoran 100 .....
firemen's 18 .....
National Union 8
TITLE INSURANCE.
Columbia Title 6
Real Eatata Title 120
All of this Stock having been sold, this advertisement appears as a matter of record only.
55,000 Shares
Cuyamel Fruit Company
(Ta be organised under the laws of tho State of Dataware)
Capital Stock
Transfer Agents Registrars
Central Union Trust Company of New York Bankers Trust Company, New York
Canal Commercial Trust and Savings Bank, New Orleans Whitney Central Trust and Savings Bank, New Orleans
Application will be made to list this stock on the New York and New Orleans Stock Exchanges
CAPITALIZATION
T* ha reraaantly
Authorised outstanding
First Mortgage 20 Year 7‘.a % Sinking Fund Gold Bonds duo
Doe. I, 1941 $5,000,000 $3,325,000*
Capitol stock (no par valuo) - 250,000 shares 250,000 share*
•Os $3,500,000 of these bonds originally Issued. $176,000 have been retired by the operation of the Sinking Fund
Each holder of capital stock of the now Cuyamel Fruit Company will, as evidenced by endorsement on his stock cer
tificate, bo entitled to n pro rata intarast in tko stock of Cortes Development Comany, the entire capital stock as
which Company is to bo hold by Trustees for tfio benefit of such Cuyomol Fruit Company steckhaldara. subject to tho
terms of n trust agreement defining tho rights of tho person* beneficially interested therein.
Information regarding this issue and the business of the Company is given in a letter from Mr. Samuel
Zemurray. President, from which he summarized ire pars as follows:
History and The new Cuyamel Fruit Company is to succeed to tho business of tho Cuyamel
Growth' Fruit Company of South Dakota, whick is engaged primarily in the .cultivation, trans
v,r pertation and marketing es bananas- This Company was incorporated in 1911 to
held and develop lands and concession* along the Cuyamel River in Honduras. Tho Cortes Devel
opment Company is n Honduran Corporation which was organised in 1919 to carry on that part as
the business which could best bo conducted through a local company. With the acquisition and de
velopment es other properties in Honduras and Nicaragua, tho construction of railroad Unas, wharfs,
etc., and the purchase es additional ships, the Company’s banana business has increased from
276,000 bunches In 1912 to over 5,000,000 in 1922; and conservative estimates for 1923 look for tke
handling es upwards of 6,000,000 bunches.
Profits ! The net profits for tho periods indicated below es Cuyamel Fruit Company, Cortes Da
■■■ ■" valopment Company and subsidiary coin panics, after deducting all charges (including in
come and profits taxes paid by the American companies) except interest upon indebtedness equal to
6% upon the amount of new money provided by the present financing, ns certified by Messrs. Price,
Waterhouse A t Co., public accountants, have been ns follows:
Year ending December 31, 1920
Cuyamel Fruit Comany $ 480,105.54
Cartas Development Company * 1,366,153-33
Year ending December 31, 1921
Cuyamel Fruit Company .. $ 594,593.43
Cortes Development Cefmpany 772,661.01
• Eleven months ending November 3(h 1922
Cuyamel Fruit Company * $1,008,398.47
Cortes Development Company 493,404-38
*Thig Includes only nine months of the New Orleans-Blueflelds Trust and Transportation Co.
Assets: The combined balance shoal as es November 30, 1922, as certified by Messrs. Price,
——— Waterhouse A Co/, Public Accountants, after giving effect to the present financing, shows
net assets of $13,658,760.03 after deducting all liabilities, which shows a book value of about $54.60
par share.
It Is expected that the new Company will commence tbe payment es dividends at tbe annual rata as
$4 per share. .
All legal matters in connection with this issue will be subject to the approval of Messrs. Sullivan 4 Cromwell and Messrs.
Guggenheimer, Untermyer 4 Marshall, representing the Bankers, and Messrs. Monroe A Lemann of Jfew Orleans, repre
senting the Company, and this offering is made in all respects subject to such approval.
We are offering this stock for subscription subject to allotment
Price $53-50 Per Share
This offering Is made if, when and as Issued and accepted by ns and subject to the approval of counsel. It is expected
that delivery of stock will be made on or about March 8, 1928, on two days’ previous notice, at the offlee of LEHMAN
BROTHERS, 16 William St., New York, N. Y., In the form of temporary stock certificates;
We reserve the right to reject any or all subscriptions, to allot less than the amount applied for, and to close the sub
scrpltlon books at any time without notice. \
LEHMAN BROTHERS GOLDMAN. SACHS A CO.
N.w York No York
E. F. HUTTON & CO
N«r Y.rk
Janaary, 1958. *
The etatements herein o« retained ere net guaranteed, hat are based en tnfenaretlen which we believe' to be s sec rate.
THE EVENING STAR. WygHTCTTTOy. T>. V.. THURSDAY. JANUARY 23. 1923.
MISCELLANEOUS.
Columbia Graphoptaone com 2 3
Colombia Oraphopbone pfd II 1244
Merchants’ Transfer and Storage 100
Mergenthaler Linotype 175 178
Old Dutch Market com 244 A
Old Dutch Market pfd 7%
Lanston Monotype 784* 784*
Security Storage 220 .....
Washington Market 89 .....
Yellow Cab f. 844
•Ex dlv.
SHORT-TERM SECURITIES.
(Quotations furnished by Redmond A Co.)
, Noon. ,
Bid. Oifar.
AlumlnuL Co. of Amer. Va 1825 1 031$ KM
Aluminum Co. of Amer. 7* 1933 105»() 106
American Cotton Oil 6s 1924 96 8614
American Sugar Hs 1837 102 t„ 10FU
American Tel. A Tel. 8s 1924... 101i4 10D*
American Tel. A Tel. 6* 1925.. 11544 116%
Anaconda Copper 6* 1928 1011* 101 \
Anaconda 7s 1928 103*, 103’,
Anglo-American OH 744* 1825.. 103A 103A
Armour A Co. 7* 1830 105A 105A
Bethlehem Steel 7* 1823 lflf.4* 105*1
Canadian Pacific 6s 1924 101 1014*
Central Leather 5s 1825 88’4 8914
£.. U.C. A St. L«s 1929 101 >4 101*4
Du Pont 744* 1831 108 108 L
Goodyear T. AR. 8s 1931 102*4 108 L I
Great Northern 7* 1936 109 109 U, 1
Hocking Valley tU 1924 100*4 100»i
Humble Oil 544. 1932 88L 98*4
Kansas City Term. 6a 1923 100*4 100)t
Kennecotl Copper 7* 1930 104 104*!
IJbbv. McNeil A Libby 7s 1831. 100*4 101 V
M,, St. P. A S. 8. M. 614 s 1931. UM 100
Morris A Co. 744* 1830 106*4 10644
Penn. U R 7. 1930 HO no*!
St. Paul Tll lon Depot 544a 1923 10044 100*,
Sears, Roebuck A Co. 7s 1923... 101A 101 L
Southwestern Bell 7* 1925 10244 10’*v
Standord Oil of Calif 7s 1931. 105 L 10W
Tidewater Oil 644* 1931 102** 1(«3L
Union Tank Car 7s 1930 103 C ipaiJ
Western Union 64;,* 1836 110 no*?
Weatlngbouse El. A Ms. 7* 1831 108 108*4
TREASURY CERTIFICATES.
(Quotation* furnlahed by Redmond A Co.)
Rate— Maturity. ‘Bid. N<><> oiTer. ’
344* March 15, 1923 99T4 100
44*» March 13, 1923 100 100 3-32
B*«s June 15. 1923 88 15-16 100 i-3j
B*4* September 15, 1923... 98 13-16 100
4a December 15. 1923.... 9944 100
s*4* June 15, 1924 101 11-16 10D
54vs September IS. 1924... 10D 2 101 *4
4*«s March 15, 1925 100 5-16 10044
444» June 15. 1925 99 15-16 100 1-16
4*4* December 15, 1925 9944 99 11-16
4*is March 15, 1926 100'i, 100 11-16
444 s September 15. 1920... 99 99 8-16
444a December 13. 1927 99 15-18 100 1-16
TAILOR-MADE CLOTHES
TO INCREASE IN PRICE
ST. LOUIS, Mo., January 23.—Prices
of tailor-made clothing will increase
from 12 to 15 per cent in the near
[ future. L. A. Banner, secretary of the
National Merchant Tailor Designers’
Association, staled. The association Is
holding- its forty-third annual con
vention here. He ascribed the mount
ing price of wool and scarcity of
workmen as reasons for the predicted
price increase.
The day before that set for her
marriage a girl of Leeds. England,
laughingly tried on her bridal veil,
despite the protests of superstitious
friends. Ten minutes later her father
cam© In with the news that her fiance
had met with sudden death. In a street
accident.
CRUDE OIL OUTPUT
DECREASES IN WEEK
Daily Average Falls Off 14,450
Barrels—lmports Show
Increase.
By the Associated Press.
NEW YORK. January 2D.The dally
average gross crude oil production of
the United States decreased 14.450
barrels for the week ending January
20, totaling 1,736,900 barrels, as com
pared *yith 1,751,350 barrels for the
preceding *\eek. according to the
weekly summary of the American
Petroleum Institute. The daily aver
age production east of the Rocky
mountains was 1,206.900 barrels, as
compared with 1,526,350 barrels, a de
crease of 19,450 barrels. California
production was 530,000 barrels, as
compared with 525,000 barrels, an in
crease of 5,000 barrels.
According to figures collected by
the Petroleum Institute, the imports
of petroleum (crude and refined oils)
at the principal United States ports
for the week ended January 20 to
taled 1.993,157 barrels, a dally aver
age of 284,273 barrels, compared with
1,777,901 barrels, a daily average of
253,985 barrels for the week ended
January 13.
After counting all the hairs on the
heads of the woman students, two
professors of the University of
Munich, found the average to be from
60.000 to 70,000 hairs per head.
FIRST MORTGAGE NOTES
For Sale
IN DENOMINATIONS OP
500 DOLLARS AND UPWARDS
ZLnM//Xpner V> %.
J2C7 Sti/venue '
\
DIVIDEND DECLARED.
NEW YORK, January 26.—Direc
tors of tho Pressed Steel Car Com
pany yesterday declared the regular
per cent preferred stock dividend,
payable February 27. Rumors which
affected trading had been current to
the effect that It would be passed.
Money to Loan
lacnrad by Brat deed of truat ere real e*t*t*
Prevail!** Interest and cotamUeloe.
Joseph I. Weller S!.TSi i
iLOANSf
. ► From *IOO to *303 on D. C. real
$ . estate and hnuaehold gooda or chat
. ► tel*. 7 per cent Interest. No bro
i . Iterate charged. _ „ 9
►Commercial Loan Be Flnsnoe Corporation
i Boom 811. 881 15th St. N.W. W
► Mala 6678 . . . W
bsaaaaaaaaaaq
MORTGAGE MONEY,
on band to loan on real esUte.
THOS. E. JARRELL '
aTIES SERVICE
Bought , Sold , Quoted
THOS. W. BRAHANT & CO.
Investment Hccnrlflea
510-11 Evans Building
Washington, D. C.
Main SIND
“BefoteYou Invest*
INVESTIGATE’
Buy on a “rising market”
is old and sound financial j
advice. The price of units
in the
DISTRICT GUARANTY
CORPORATION
advanced twice in 1922,
because of the earning j
record of the company and
the actual value of the
shares.
The early buyers were
wise, and, being wise, they
are still buying. The ma
jority of them have bought
two. three, four and some
of them five times.
The present price is
$250.00
per unit, and it is subject
to change without notice.
William RWestlake
FISCAL. AGENT
Washington •••DX.
HI-15 ,k St .D Sr. Tel. Main 0714
I I
7%
“We will”
—have ready for delivery in about
ten days a limited amount of
Gilt Edge First Mortgages
7%
Investments
In Amounts of $250 Up
Make your reservations now
The opportunity to get your
savings invested on a basis of
7% interest is rapidly passing.
Chas. D. Sager
923 Fifteenth St. N.W.
Main 3d Loan Dept
EQUITABLE
Co-Operative Building
Association
Organised 187 V
43d TEAR COMPLETED
A Harts *4,037,959.50
Snrplns *1,180380.31
Systematic Saving
A plan to*make saving easy
Save a little each pay day and
you will be surprised at the
amount accumulated In a short
time.
Subscriptions for the
84th Issue of Stock
Being Received
Shares, $2.50 Per Month
EQUITABLE BUILDING
915 F St. N.W.
IOR\ JOT EDSOV, President
FRANK P. REESIDE, Seep.
NO L° S S TO ANY INVESTOR IN 50 YEARS
est
Invest Your Funds at
6*2%
A
With D. C. Intangible Tax
and 2% Federal Income Tax Paid
•u ■ ■
We have available several new offerings of First Mortgage
Investments at 6V2 interest with attractive tax-refund features.
They have been purchased by us with our own funds after
careful investigation. We recommend them as thoroughly
safeguarded investments, suitable to the requirements of all
investors whose first consideration is Safety.
These First Mortgage Investments are appealing strongly to
investors who desire an absolutely safe investment with an
attractive yield. We suggest prompt action in order to secure
the amount and maturity desired.
Reservations accepted for future delivery
Denominations: $5,000, SI,OOO, SSOO, SIOO Maturities: 2to 15 years
Call, •write or phone for descriptive circulars
I The F. H. Smith Company
1414*1416 Eye Street, N. W.
Washington, D. C.
Without obligation on my part, please send me information about
| your First Mortgage Investments which assure a net return of not less
than6}£s.
Name, i
' , i
Street Address , ' —... |
I City...._ |
COMPANY
■ Sfbundedl&3^
! / FIRST MORTGAGE INVESTMENTS
1414.1416 Bye Street, N. W.
i -•
. • - - - _
! NO LOSS TO ANY INVESTOR IN 50 YEARS
financial*
MONEY TO LOAN
—in any Amounts on First Mortgages.
Lowest Rates of Interest and
Commission *
Prompt Transactions
Thomas J. Fisher & Co., Inc.
738 15th St. N.W.
- 1 ' " " •
I $2,000,000.00
TO LOAN ON
Hotels
Apartments
Offices
Construction or Permanent Loans
Amounts $100,000.00 and Upward
Prompt Handling
Loan Department
[Shannon & luchS]
713 14th Street Main 2345
WvitJi 51Tottcjacp Sfoa
Sn ConVcnic-rtt
tfoi, cinVe^tot^
9C.
8 S
L - - - - - . . - - J
27