Hartford Courant from Hartford, Connecticut • 66

THE HARTFORD DAILY COURANT: SUNDAY, DECEMBER 29, 1920. 26 Company Growth Illustrated TOTU I 5 BU R. 5 I 3- TOTAL JMCOME Cities Service Sets Records During Year Earnings of Each Month Highest In Company's History Favorable Prospects for Next Year BV HENRV DOHEHTY CO. According to present Indications, the year 1929 will prove to be the mast prosperous year in tire history of Cities Service Company. Tills com Insurance Stock Market Activity and Statistics Bid Quotations at Opening of Year Contrasted With High and Lows Hook Value and Karnings Per Share of Leading Companies By Arthur V.

R. Tilton, Statistician. Thomson, I'rnn A. Co. The accomiaiiying tabic which deals wilh ic stock of group ol surance compunifs not located in ilaitfc.r.l but which arc ol mtere.st to local investors, gives, at a glmi.T, th ears record ot markc activity of these stocks.

The figures show that these j-tui ks are selling at price, in many ease' near the year's lows ana at figures winch lompare f.vor.iblv h.ik'-atiug values figured as ot January 1. 1929. Up to the time ol tne recent ni.i.Kc: will be inn inhere 1 that one ot the strange features of th' year's rivo; jnowmi-nt ol MxK prices was the relatively small advance ot insurance Mian. According to ligures prepare! bv the Untied Stater. Snares Corp.wati ill in the first eight months ol this vear insuri'me sleeks increased only which is an increase of $8,066,410 or 25 8 per cent over the same period'the previous year.

The earnings of each of the eleven months mentioned have been successively larger than anv similar month in the company's history. Furthermore, the Increase in earnings in each month over the same month of the previous year has risen phenomenally, as the net earnings for January, 1929 were 17.9 per cent greater than for January, 1928. while for November, 1929. the net earnings showed an Increase ol 36.8 cent over the correspond. ng month the previous year.

These increases in earnings have been brought about by the acquisition of new properties and the reinvestment of earnings in the company rather than paying out these earnings to stockholders. Approximately 97 cent of tho earnings of the company have reinvested in expanding the company and only 3 per cant osnd out in cash dividends ti the common stockholders Durit: the year now closing, the company has refunded various preferred stock and bond issues, the result of whicii is a saving to the company through reduced dividend and interest rates. Cities Service Company on December 12. 1929. had a total of 341.497 common stockholders as against on December 15, 1923.

While an exact figure of the total number of security holders is not available, it ia conservatively estimated that there are in execs-s of 600,000 persons owning various securities of the Cities Service group. This tremendous increase in the numoer of stockholders Is outstanding evidence of the wide recognition ot Cities Service securities as investments for income. An interesting feature of this Increase in the number of Cities Service stockholders is th fact that dunr.5 the perajd of October 15 to November 12, 93.263 new common stockholders were added to the books of Cities Service Company. This tremendous increase 'A affected in the face of perhaps Trie worst recession in securities prices in the history of the country. This tremendous gain was the result of voluntary buying by many thousands of small investors throughout the country Several thousands of these mad'e their purchases by mall, indicating the strong prestige of Cities Servljj Company in the minds of the Investors of the country.

The year 1930 will be a notable on-for Cities Service Company. From an earn ngs standpoint, its subsidiaries particularly the major ones will reflect the large expansion program of the past year. In accordance with th company's policy, these subsidiaries will capitalize and consolidate the continuous expansion program whirl, for 20 years has characterized fvt; Cit es Service organization, 1 lWjJ jj pany, wnase assets total approximately one billion dollars, has expanded its facilities dunn? the 19 of its existence until now it IUM I tA fl rials, per urancc grou whiie in 1924 inn. lor bi-iii'i'i 025 and cent in value compared with 16 per cent lor rails and 73 per cent lor utilities. In the and uiiiitics but kept ahead ol rai 1927 thry led tne market upwiim a group, serves electric light and power, manu- factured and natural gas and petro- i leum products to approximately 4 1 750,000 people scattered throushou' 33 states of the union, in Mexico and i rise in I'ijt bring twit" large as the next bo-t group mclu.s'.r.ais.

LI I A I in Canada. For the eleven months ending November 30. 1929. the iKt earnings ol the company amounted to $33,408,681 Iiki 1 h2 314 50 fill .1 55 American Alliance American Surely 1 1 i Baltimore American Oiens f'alLi 2i OIodc Rutgers Great American Hi nee 1830 Aetna I. lie liiruran-e Company ha.s butit up Its amun! premium Inconi" from in $103,868,360 In the life department and the company's growlh is indl-i cated in the accompanyuiK craph 1 Premium income of the company has i ranged from 73 fier rent to 85 per cent i of the total annual income of the i company, exclusive of new capital cent of the total outlay.

The range tills particular has been from to 70. In 1904 5 per cent of the company's disbursements went to stockholders and latterly It ha.s been about 2 per cent. Disbursements for taxes took about 3 cents on ever dollar of exjx-nditure. Office expenses, salaries and the like have been increa.stn','. coming up from 24 per cent to 55 per cent of every dollar paid out.

In 1928 it was 54 per cent. ii? Illtll 1 l.i.rnin,,' Hid Hi. I Pit I'm Vl' Hlum Jan 53 Hi S3 70 10 29 Dill i i'l Oil i (11 17 12 It 5 72 45 2.70 10 1025 8511 196.8(1 100 56 2H 4.39 10 34 889 65 811'j 40 840 10 54 74 i 54 4 60 61) 10 IS!) 12 5 20 5 20 1170 5IKI 141 18 100 Kill 132 75 11.30 25 114 230 160 18.00 25 137 145 60 13 40 10 56 130 45 7 8(1 10 62 of shares Put Your Savings 15 t. 27 tier cent of the Income UuniiK the lat year premium income was 81 fier cent of the total and the Investment yield about 13 per cent. In respect to yield from Investments Aetna Life's record, averaging about 20 per cent over the long period The experience of Aetna Life regard to amounts paid for claims indicates a decreasing percentage the amount in 1928 having been 51 per a business which Is so extremely per-ronal as that handled by the tra department of a bank.

Hanover i3i Hanover (Newi 7S Home 600 Home (New) 4i National Liberty 33 Ptov. Washington R20 Security ltd Sprinclirld ire 225 United States Fire mcwi Westchester 98 puui in or uonowea money, any. i The yield from Investments has been mm ft 11 in a other matters iibmltted to it for con- i sideration. i I'll will be carried through by us. For 1930 we anticipate a conserva-I tism in buying which will become a recession unless we compensate this by a and better selling effort.

I This we propose to do by a broader Mutual Savings Bank Oi CaiMal it creased July 1 from to $7,500,000. 2i Caiiital increased from $4 600.000 to 1 3 Capital increased fiom to (4t Capital increased December to $21,000,000. In Coimnecticiit our capable hanking department, with its careful and earthing examination of the banks nnd ti'u-t companies under its jurisdiction, is a protection to the depositors of the banks in all our towns and cities. Kspfrlally Is this true In reuard to trust bui iness which has a future and probability of growth even greater than pure commercial banking Anv-one wishing Ut establish a trust fund naturally selects a bank with olllcers. as well us directors, whom he knows and In whom he has confidence.

A trust department in such a bank is certain to attract and hold business, while a trust department where the directors and officers are not local men would not prove likely to attract Unit Hank Preferred For Trust Operations and more intensive application of selling effort to the existing market Our belef Is that the conditions in Europe generally are such as to encourage the expendture of better volume from European territories. Deposits $8,375,000.00 Typewriter Sales Effort. By FOWI.ER MANNING. All programs under consideration THE CITY NATIONAL BANK OF NEW BRITAIN 4 BV M. HUBBARD, PRESIDENT.

Connecticut River Banking Co. While in many sections ol our country, where banks In small towns and cities have proven unsuccessful, it is quite possible that, branch bank-ins might be acceptable and effective, it is not considered at all necessary here in Connecticut. Mast of our own smaller towns have been served many years by which have been successful in caring for the needs of the community and have shown a steady growth in the amount of d'3osits and the number of depositors. In branch banking the policy Is determined by directors not cognizant of local conditions and unfamiliar with the problems and needs of the community, whereas the home bank under local management knows the existent conditions and is acquainted with the standing of its depositors, and hence. Is able to act promptly on all matters of loans and NEW BRITAIN, CONN.

Accounts 12,706 Surplus Over $1,220,000.00 5 FARMERS MECHANICS SAVINGS BANK (A Mutual Savings Bank) Middletown, Conn. Accounts May lie Opened and Deposits Made by Mail. tt. MARSDEN HUBBARD Capital and Surplus $250,000 Resources Over $1,000,000 We make a special effort in our service to meet the needs of each customer of our bank by giving- our personal attention to all business entrusted to us. Call or write us regarding this service.

Personal Attention Given To Collections Sent To Us Depository City of Nov Britain Stale of Connecticut U. S. (Government Member of Federal Reserve System 5 Interest Paid On All Savings Deposits Within the short period of six years we have strengthened our resources to such an extent through our service to this community that we arc enabled to pay our present rate of interest. We offer a complete banking service: Checking Accounts, Savings Accounts, Trust Department, Foreign Department, Safe Deposit Vaults, Authorized Depository for State of Connecticut Postal Savings System. Capital $50,000 Surplus and Profit $50,000 M.

P. IilNDCE, President (JEOKCJE DOYVI), Vice-President J. W. NEAL, Sec'y and Treasurer The Madison Trust Co. Madison, Conn.

Winsted Savin Bank gs Incorporated I S()0 Four years ago it was Florida Real Estate Now it's the market Four years hence it will be something else Rut, depend upon it, it will not be The Morris Plan. No investor ever lost a penny in this sensible plan of investment. Five per cent interest always, guaranteed by our entire assets as regular as the sun. Equally sound and practical are the Co-Maker Loans issued on The Morris Plan in amounts of $50 to $3,000, secured solely by the endorsement of two friends. The interest rate is six per cent plus a service fee of $1 for every $50 borrowed.

There is no service fee over $10. Co-Maker Loans are repaid in convenient weekly instalments. Other features of The Morris Plan Rank which make it an important unit in the financial structure of this community are: Collateral Loans, on which negotiable securities such as stocks and bonds are left as collateral to secure the loans. These are made at six per cent exactly as at a commercial bank except that thoy are paid back by the week or month. Trade acceptances, offering a deferred payment plan to enable merchants to extend the convenience of time payments to their customers, furnishing the merchant with immediate cash to cover the purchase.

The Morris Plan Bank of Hartford The Merchants Bank Trust Company EXTRA DIVIDEND OF ONE PER CENT ffl CJW 3 "i-? Wi "Service With Growth" W. 983 Main Street Commercial and Savings Department Foreign Exchange Safe Deposit Boxes Letters If of Credit Travelers' Checks and jj Trust Department. MNVESTMENTSi 57 :2 Pratt Street, Hartford During the year of 1 930, in celebration of its seventieth anniversary, this bank will pay one per cent extra, making the interest for the year 6 on $1000 or less and 5- on the excess. One half of the extra dividend will be paid January 1, 1930. Dividends will be paid quarterly commencing April 1930.

OFFICERS IVtrrHoy L. Vaill, President. Dwijrht R. Tiffany, Vice-President. J.

Albert Smith. Treasurer. Wallace W. Taylor, Asst. Treasurer.

DIRECTORS Vaill, Ralph W. Holmes, If. Alvord. Dwijrht R. Tiffany, Richard T.

Hijririns. Daniel Colt, J. Albert Smith. S200.000.00 I i Surplus 850,000.00 Undivided Profits 1.