The Baltimore Sun from Baltimore, Maryland on September 11, 1929 · 20
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The Baltimore Sun from Baltimore, Maryland · 20

Baltimore, Maryland
Issue Date:
Wednesday, September 11, 1929
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THE SUN", BALTIMORE, WEDNESDAY MORNING, SEPTEMBER 11. 1920 20 Provisions And Produce Market Xetr Service TJnlted States Pe nartraent of Agriculture, Bureau of Agricultural Economics, and (he Maryland State Depart wont o .Market w. Cooperatlug. Car-lot shipment reported for tbe eu-tiro United Slates for Monday: iPl'LKS Illinois. 33: Maryland. 8 Kew York. IS; Virginia. 126; West Vir jjinia. 33; others, HW. Total, itta. CABBAGK Colorado. 7: Illinois, 6 New York, 14: Virginia, Hi Wisconsin, 24 : others, 4. Total, ho. CELEB Y Michigan, 9; New York, 1 Oregon. 2. Total. 12. LETTICE California, 7D; Colorado 3; New Mexico. 1; .Vcw York, i'U Washington, 3. -Total. 130. l'OTATOES Maine, 1S7 : Minnesota 31: Long Ixlnnd. 34: Washington. f0 Wisconsin, 51; others. 1117. Total, ti37. Baltimore Prices represent sales in large lots to Jobbers and other large nu.vers on siock or gnua lnci'cnaniauie quality ana cuu ditiou. KRt.1T APPLES One West Virginia arrived; S cars on track, including broken. vt est tin Maryland. Pennsylvania and near by truck receipts light. Supplies light demand moderate : market about steady Bushel baskets, all sections, U. S. Is, S'-j-lnrh up. Smokehouse, Grimes, Maid en hlusu. $i.7,mi-'; varimis early tan varieties, unclassified. $lal.r0: nearby, 14-guart hampers. 2ja(ljc. : few higher. CRABAIM'I.ES Supplies moderate. Nearby, 14-quart hamiers, various varieties. 80a75c, few higher. CANTALOUPES Two Colorado arrived: 1 reconsigued ; 11 cars on track, Including broken. Nearby receipts light. Supplies moderate; demand slow: uiar-kei weak. Closing Monday: Colorado, Salmon Tints, standard flats, 1-I5s. 75c.; few higher; some soft, 2"a5oc ; I'inli Meats, jumbo flats, Ss-fls, "."la'.'Oc. ; 12s, fluc.aSl; standard Hats, 12s-l."is, 7,jc. ; few higher: nearby, 14-quart hampers, 75c. a$l; culls, 3,"ia."oc. MISCELLANEOUS MELON'S No car-Jot arrivals: 15 cars on track, including broken. Supplies moderate; demand Blow; market dull. Closing Monday. California, standard crates. Honey rews. all sizes. $1.50a2: mostly around 1 75; Persian melons, jumbo crates, all slies, $2n2.2.'i: few higher; standard crates, jl."5a2. PEACHES No car-lot arrivals, no rara on track. Western Maryland. Pennsylvania and nearby truck receipts light. Supplies light: demand moderate; market firm. Bushel baskets, Pennsylvania. Elbertas, 0. & Is, 2-inch minimum, $2.30 a3, few fancy higher: unclassified. S'-'a 2 23; Hales, large size, fancy. $4a4.50; 16-quart hampers. Elbertas. U. S. Is, 2-inch minimum, $1.23, fen' higher; some full ripe, PEAKS No car-lot arrivals. S cars on track, including broken. Eastern supplies light; demand moderate: market steady. Closing Monday: New York, bushel baskets, Bartletts. No. Is, medium size, mostly $3.25. Nearby, 14-quart hampers. Seckels, 75c.a$1.2o. PRUNES Supplies moderate. Oregon, lues. Italians. 7."iaSnc. I WATERMELONS Supplies moderate. Maryland and Virginia, various varieties, o2-36-pound averages, 35a40c. : 2S-30-pound average, 25a30c. j 20-22-pound average, 12al5c. VEGETABLES BEANS Supplies moderate. Virginia (Norfolk and Hampton section!. 6-peck hamners. BountifulB. 75c.a$l. Nearby round strlnirless. tier bushel. 63c.a$l.W. BEETS Supplies lisht. Kearby, per bunch, 3a4c. CAHHAtiH Te New York arrived 14 cars on track, Including broken Nearby receipts light. Supplies increas lot,! rioniAiiri moderate: market, unset' tied. Closing Monday: New York, bulk ner ton. Copenhagen, medium size, $40 42; large size, iJo. Nearby, Hat type, per head, 4at5c. CAItHOTS Supplies moderate. New York, bushel baskets, unwashed, 75a !Mtc.. California, Western lettuce crates, mostlv 3.rsi. Nearby, per bunch, 4a5c. CAULIFLOWER Supplies moderate Cnlornrto flat crates. M.75al.10. CELEHY Four New lurk arrived: 15 cars on track, including nruaen. ii plies moderate; demand slow; market dull f'losini! Mondav: New York. 2 crales, rough, best, $2a2.23; few S2.!il: poorer. $1.23ai.u. L'UKN Supplies liberal. Nearby. sutrar. ner dozen, loaloc, LLULMIIhllfi Supplies ngui. r.ew York, bushel baskets, fancy and di .'a2.25: few higher: ungraded. fl.oOa 1.75. Nearby, 14-quart hampers, un graded. iSe.aSl. JiUiil'LAMS supplies mouerate. Nearby. 14-quart hampers, 20aJOc. LETTLLE ihrec Colorado ana -New lurk arrived; l reconsigned; cars on track, including broken, sup plies moderate: demand slow; market dull. Closing Monday: New York. 2- ozen crates, nig Boston, best, 75c. ; few higher; poorer, 5oaij0c. : some poor condition low as 25c. California, crates. .elierg, 4 to 5 dozen, best, $la4.25; few $4.50; poorer, $3.50. Colorado, best, $4a 4.25; poorer. fa'6.M. LIMA BEANS Supplies fairly liberal. Easlern Shore of Maryland Hntl Vir ginia, bushel hampers, nest. lancy, $1.i5; poor quality, SI. Nearby, 14-quart hampers, ( ii.MONS two New 1 ork arrived; ia ars on track, iiiciuauig broken. West ern Maryland and Peunsylvaia truck receipts light. Supplies moderate; demand slow; market dull. Closing Mou- lay: New York. 100-pound sacks, yel- ows, U. S. Is. $2a2.15; few $2.25; un graded, Sl.75al.Kli; .Vl-ponnd sacks, C. S. Is, best. Mlo; few $1.25: poorer, $1. Massachusetts. 5i)-pouud sacks, yellows. Is. fl.l.ial.25. Indiana. SO-Douud sacks, white boilers, few sales, $1.15a 1.25. Wesiern Maryland and Pennsylvania, sacked per twt., yellows, ungraded. $.75a2. PEAS supplies light. Closing Monday: California, 45-pound crales net, Telephones, $4.i4.25. PEPPERS Supply moderate. Nearby, 14-quart hampers. 20a25c. ; few higher. POTATOES No car-lot arrivals; 6 cars on track, Including broken. Receipts equivalent to 1 car Eastern Shore of Virginia by boat. Western Maryland and Pennsylvania truck receipis light; supply moderate; demand moderate; market steady. Closing Monday: Maine, 1Kponnd sacks. Green Mountains. U. S. Is, mostly $3. Pennsylvania, HKi-poiind sacks, round whites, L'. S. Is, best, $3; poorer, $2.75a2.90. Opening Tuesday: Western Maryland and Pennsylvania, sacked per cwt.. round whiles, U. S. Is, $2.S5a2.i: few $3: ungraded, $2.65a2.75. SWEET POTATOES No car-lot arrivals: no cars on track. Receipts equivalent to 1 car North Carolina, 1 Eastern Shore of Maryland. 1 Easlern Shore of Virginia, Dy boat. Eastern Shore of market very dull. North Carolina, barrel, yellows. V. S. Is, $2.75a3; ungraded, 2.2.'ii2.5(i. Eastern Shore of Virginia, barrels, yellows, V. S. la, $3; few, $3.25: ungraded, J2.50a2.73. Eastern Shore of Maryland and Delaware, bushel hampers, yellows, V. S Is, $1. 23a 1.33; few fancy higher; ungraded. $lal.25. TOMATOES Supply moderate. Near. by. 14-quart hamper, ripe, 30a5iie. : few higher. Canncra stock, per bushel, 7 aS5c. Car-lot arrivals other than notPd above: Beans: by boat, Virginia, Norfolk and llanipion. i. J.ima beans bv boat Eastern Shore of Maryland. 1: Eastern Shoro of Mrgiula, 1. Cauliflower. Colo rado, 1; New lork, 1. Cucumbers, New l.irk. 1. Grapes. California, 2. Lemons, California, 1. oranges, California, 1 runes, Washington, 1. Carrots, New York. 1. Cars reconsigned other than noted bove: Lemons. 1. Cars un track other than noted above: Cauliflower, 3: cucumbers. 3; grapes, 6; lemons. 3: nrangea, li ; peas, 3; carrots. , prunes, H. EGGS On (he Baltimore Butter and Egg Ex change there were no offerings. Street sales market steady, small lots, nearby urrcni receipts, candled, mostly around 4oc. ueceipts ii utter, o tubs; eggs, 3 cases, AUCTION SALES G RAPES California, 1.2HS lues Mal agas, SI. -'.nil .1.1, average fi.d.i: 12 lugs Thompson Seedless. $1.35al.'j0, average J 1.4". LEMONS California. 1 car, $12.ti0 aH.ltt. tiKANGl'.s California. 4 cars Valencias, $2.U5a7. PEARS California, 1 Bartletts, $2.7,ia3.M). average fi.l'J. Oregon, 1 car Bartletts. $2.a3.fl0. aver age. 3.42. I'liL.M'.s-urcgon, la tugs Italians. Wk LIVE POULTRY CHICKENS (Y'ouug) Colored, ai to ize, 27a32c. ; Leghorns, as to size, 2tia 2c. Chickens ( i In Heavy, jyaJlc; medium size. 25a2ic. ; Leghorns and light stock, 22a24c; roosters. 1(ni2c. DUCKS White Pekings. 4 pounds and over. 20a22c. ! Puddle, 4 pounds and over, 20a22c. ; all kinds, small and thin, liable. GUINEAS One and one-half pounds and over, o.h ; smaller, we. W. EDUAK HARRISON, Local Representative 1.40; small to medium, per 100, 76e.a$l, snappers, per pound, (aba C'lllCBKO Chicago. Sept. 10 (IP) Provisions were steadied by Indlcationa that foreign Interests were becoming Interested on the buying side. At the finish prices varied from a decline of 7c, to a like advance. Cash prices were: Lard, $11.05; ribs, $13: bellies. $13.50. Kange of futures. IC7.Fr. Lard I Hinh I tnw ICfosel A no September October December January .. Ribs-September October ... Bellies- September October .., anuary ... :$ii.o7;$n..r) 11.70 11.031 12.15 13.07! 13.07 11.551 11.83 12.05 13.00 13.05 $11.0.' 11.07 11.001 12.101 12.02 12.0' 13.00 13.05 13.07 $I2TW 13.05 13.27' 14.13 14.12' 18.23 16.30 Willingness to sell and lack of buying eased prices uowu v. to lc. in the but ter market today. The close was barely steady. Receipts. 11,800 tubs, Fresh (13 score, 44',aa45c. J 92 score, 41c. J 01 score, 43c; 00 score, 42c.; SO score, 41c; 88 score, aO'jc. ; 87 score, 30c. Centralized 00 score, 43c: SO score. 41',jc. : fcS score, 39 'ic. r.ggs steady: receipts, ij.onu eases; ex tra firsts. 36a37c. : firsts. 34aK5c. : ordi nary firs is. 30a32c Live Poultry Hens firm; springs steady; fowls, 3Hc. ; springs, 26a2ic. : No. 2 springs, 10c broilers, 27c; roosters, 21c: turkeys, 20a 30c. ; ducks, 13a21e. ; geese, 19c. grades, 48a51c; 02 score, 47c; 80 to 61 score, 42a45'ic. ; 86 to 68 score, 3'JHa 41 'Ac. Eggs Extra firsts, 41c; firsts, in new cases, 38c; firsts, In old cases. 37',c: seconds, 3da3oc. Cheese Longborns, round lots. 21a 254c; single daisies, fresh, 24a24jC Live Poultry Fowls, not Leghorns. fancy, 33c; ordinary, ;',0u32c; whits Leghorn fowls, fancy, 20c; ordinary, 22a 24c; spring chickens. Plymouth Rock. 3 pounds or over, yellow-legged. 33c: ex ceptional lots higher: 2 to 2''. pounds, 30 a32c; smaller sizes. 27a20c. : mixed color broilers, fancy, largo, 30a31cj Leghorn broilers, 2!lc. ; old roosters, 21a23c; ducks, fancy, young, white Peking, 22a 24c; old. white Pekings, 20a21c; mixed colors, 20a21c. Dressed Poultry Fowls, fresh killed, in boxes, 2'ia3t)c. ; chickens. Western, in boxes, 31a40e. ; broilers, in barrels. Iced, western, Ela3oc. ; nearby, 32a35c; old roostera, dry picked. Western. 24a27c: ducks, Long Island. 23c. Potatoes White. New .Terser. 150. pound sacks. No. 1. H4.23ii4.fUl! No. 2. u-pounq sacks, as, i,, OILS, NAVAL STORKS, FLAXSEED New York. Sent. 10 (JP Th. cotton. seed oil market was dull and easy, closing 5 to V points lower on thn Inter months. Support wss limited and values receded under local and outside liquida- BOTTER Creamery, fancy, per ponnd. jaic. ; cnoice, a-toc; good, i'a43c. ; do., ladles, 35a36c; Maryland and Penn sylvania rolls, 31a32c; store packed. 30 a30',;C-: process butter, 40a41c FltESH FISH AND CLAMS Crocus. per barrel. S12al5: do., per box. S8al0. Spot, Norfolk, large, per pound, l(ial2c. Carp, large, per pound Babe. ; medium, per pound, 7a Sc. Rock, boiling, per pound, 20a25c; medium, per pound. 16 ic; pan, per pound, I2al.c. ; estra ge, 15a20c. Perch, white. large. Der oiind. 20a25c: white, medium, per pound, SalOc. ; yellow, large, per pound, ua2.iC. : yellow, medium, per pound. NtlOc, Salmon trout, per pound, 15a 20c: gray trout, large, per barrel. $15alS; do., per box, $7a8; small to ti it m. per barrel, f.ia8; do., per box, 4a0. Flounders, large, per pound. 10a small to medium, per pound. 4a8o. Catfish, white, per pound, 6a7e. ; black, per pound. 6a6c Mackerel, Spanish, large, per pound, oa'ic ; email to medium, per pound, J2al.ic Eels, large, per pound, 12al3c; small to medium, per pound. 4a3c Pike, native, per pound. ,i:ijiic. biuensn, large, per Pound. 12a 15c; small to medium, per pound, 6a 10c Hard crabs, prime males, per barrel. $I.3oa5; mixed, per barrel. $3.50a4. Soft crabs, primes and jumbos, per Maryland and De flware truck reeeinls dozen. SL.Vtal 7.V miveH no Hn,nn light. Supply moderate: demand slow ; 1 7fle.aSl.25. Clams, large, per 100, $1.25a Kew Vork N'ewYork. Sent. 10 (Pi Butter steady; receipts, 10,137 tubs; creamery, higher than extras. 4a4til,c; extras (02 score). 45"jo4c ; firsts (88 to 01 score). 41a ).i',c. : packing stock, current make, ro 1, ;i2a32'--jC ; No. 2. 31c. Eggs irregular receipts. 24.021 cases: mixed colors, fresh gathered, extras, 40 a4i'iiC. ; extra nrsts. 3iaw. ; firsts, oi 30c; seconds, 33a344c. ; refrigerator, special marks, "0a3!ic. ; extra firsts. 37 a3Sc; firsts,- 35a30V4c; seconds, Xl'-ia dl'ic; nearby hennery whites, closely selected extras, 52a57c; nearby and nearby Western hennery whites, firsts to average extras, 37a51c. ; nearby white pullets. dJaluc; nearby hennery DrownB, fancy to extra fancy, 4Ba32c ; Pacific Coast whites, extras, 60a5414c. ; extra Hrsrs, 43a48c. Cheese steady : receipts, 322,034 pounds. State, whole milk flats, fresh, fancy to fancy special, 24a25'3Cj do., held, 27'a a2!t'r..c. Live poultry not i.uoted. Dressed poultry steady: chickens, fresh, 2Sa40c. ; frozen, 30a45c; fowls, fresh or frozen, 2oa35c. : old roosters. 21a27c. ; turkeys, fresh, 35a44c. : frozen, 30a46c. Pork steady: mess. $30.50: family. $37.50. Lard weak; Middle West, $12.10al2.20; extra. 7c. Tallow firmer: special loose, 79ic. : ex tra, 8c. Rice steady; fancy head, 7a8c Evaporated apples steady: choice. 13al4c; fancy. 154al5c. Prunes steady; California, &itl3c, ; Oregon, llalS'ic , Apricots steady; standard, 14al3c; choice, 17Halc; extra choice, 21a24c Peaches steady: standard. 13Ue. : choice, MVjal&c; extra choice, ISaioMi. Kalslns steady; loose Muscatels. 51. a8c. ; choice to fancy seeded, 6a8c."; seeuipsa, ojau)C. Hops steady; State, 1928. lSa22c; 1027 nominal; Pacific Coast, 1928, 16a21c: 1027, 15alc. Philadelphia Philadelphia. Sept. 10 tJ1) Butter Top u i 1 When Will YOUR Ship Lome In? It i anchored out there in the bay that trim little motor ship that ou want for your week-end holidays. You stand on the shore perhaps, and wish that it would come. Like most good things, it depends on money. Even the man with a large income cannot have these good things permanently unless he saves and invests intelligently. The man with a small income can have them on the same terms. But first he mast prepare himself by learning how to make money by investing. Not very easy to learn the complex rule of making money in stocks and bonds? On the contrary, it is absurdly easy. Take time to read the New York Daily Investment News. It is written by experts, but riot for experts. By reading it carefully every day, you can learn and apply the principles on which sound fortunes have been'established. Lay the first ttone of a personal estate by mailing this coupon today. Investment News 67 Wall Stnat, IN.w York City. tinn. Influenced by tbe reversal in cotton and the heaviness ot lard. Sales, 6,300 barrels. Prime crude nominal; prime summer yellow, spot. 8.25c. September closed at 0.50c ; October. 9.38c ; Decem ber. 9.41c; January, .50c; March. 9.5c ira i-ity, ra., Bept. 10 (If) credit balance, $3.30. Buns, 125,087 barrels; average runs, 3S.437 barrels. Shipments, 147.- s7 barrels; average shipments, 61,324 barrels. Savannah, Ga Sept. 10 (P) Turpentine firm. 40c: sales. 1 ''.'so sL-.- r. ceipts, 2.047 casks; shipments, 232 casks; stock, 13,020 casks. Itosio firm: sales. l.Sfin !. . ceipts, 6.023 caskB; shipments. 40 casks; stock. 123.020 casks. Quote: B, $7.75: D, $7.75; E, $7.75; F, $7.73; O. $7.75) H, $7.80; I, $7.80; K, $7.80; M, $7.80; N. $7.85; window glass, $S; water white. $8.25; X. $8.23. Uuluth, Minn., Sept. 10 W-Closet Flaxseed, on track, $3.oyia3.1114 i to arrive, $3.00'.: September. $3.00; Octo ber, $3.11H; November, $3.11"4; December, $3.001,4. Minneapolis, sept. 10 Vn laxseea No. 1, $3,OHa3.10. RUBBER MAHKKT New York,- Sept. 10 (ff) Rubber futures closed firm: September, 20.30c; December. 21.30c; March, 21.90c. Smoked ribbed, spot, Julie. Saii b trial lubieriptjeB f 15 urafo$l.M O. Tares auUu!6.7S q. SixawataitU.M Oat year 120.04 Q. Mmil this emumm tmAmy 'rrr--T Box 77. Vuick Sc. Sueiet, W. T C I If You Wish a Safe Income Six Times A Year- LOOK into the merits of Credit Service Profit-Sharing Bonds. They are safe and pay an income six times a year four quarterly interest coupons and two Profit-Sharing checks. For the past six years, these Bond have paid fixed Bond Interest of 6 per annum P -US an extra 4 Profit Sharing each year. This liberal yield is derived with safety from the net, profits of Nine subsidiary Industrial Lending Corporations, operating in three States. You may invest as little as ?ioo or in amounts of f$oo, Jiooo, $5000 or more. Price, $100 without accrued interest. CREDIT SERVICE, Inc. 207 VV. FAYETTE ST. Baltimore Snoi Me Descriptive Literature, Name.. Address.. New Srles 150.000 Shares General Gas & Electric Corporation $6 Cumulative Convertible Preferred Stock, Series B The $6 Cumulative Convertible Preferred Stock, Series B, without par value, will be of equal rank with th outstanding Preferred Stocks of the Corporation. Dividendspayable quarterly March 15th, June 15th, September .15th and December 15th. Redeemablt in whole or in part on any dividend date on thirty days' notice at f 105 per share, plus accrued dividends. The Corporation will agree to reimburse, out of surplus or net profits remaining after dividends, holders of ths $6 Cumulative Convertible Preferred Stock, Series B, resident in the respective states, upon application within 60 days after payment, for the Pennsylvania personal property tax not exceeding 4 mills per annum and the Massachusetts Income Tax on the dividends not exceeding 6 of such dividends per annum. Each share f $6 Cumulative Convertible Preferred Stock, Series B, will be convertible, at the option ef the holder, at any thne after May 1, 1930, and before May 1, 1935 (or, if called for redemption before May 1, 1935, np te bit not after the tenth day before the redemption date) into one and one-tenth shares of the Common Stock, Class A, of the Corporation, deliverable within 30 days after surrender of the Pre ferred Stock, Series B, subject to certain provisions with respect to stock dividends, recapitalization, etc Mr. H. C. Hopson, Vice President and Treasurer of the Corporation, has summarized in part his letter to us as follows, copies of which will be furnished on request; Business: General Gas & Electric Corporation owns or controls public utility companies rendering electric, gas and other utility services to more than 44.000 consumers in important communities in South Carolina and Florida. Lexington Water Power Company, a subsidiary, is developing a hydro-electric site on the Saluda River near Columbia, S. C, to have an initial installed capacity of 130,000 kv, expected to be in operation about September 1, 1930. The Corporation has also made large investments in securities of Associated Gas "and Electric Company and other public utility enterprises. The management regards many of these investments as temporary and plans to dispose of them as opportunities permit, with a view to investing the proceeds in securities representing interests in or control of additional operating utility enterprises. Capitalization: The consolidated capitalization of the Corporation and its subsidiaries as of June 30, 1929, after giving effect to this and recent financing, is as follows : Outstanding Subsidiary Companies: Funded Debt and Preferred Stocks (Par Value) $42,669,660 Minority Common Stocks 33,824 sharet General Gas & Electric Corporation : Preferred Stock: $6, $7 and $8 (incl. this issue) . . M 596,000 shares i Common Stock: CJass A 773,716 shares Class B 399,098 shares ' l5ttta"u!Jr o? co &3 ci ADividend Prtici"ti"u to ' P Assets: The Corporation has no dr-bt except current obligations incurred in the ordinary course of business. Net assets as of June 30 1929, after deducting such current obligations and giving effect to this and recent financing aggregate over 272 of the total liquidation Value of the Preferred Stocks to be presently outstanding. The Preferred Stocks are followed by the Common Stocks, which, together with the outstanding Dividend Participations, have an indicated market value as of August 30, 1929, of over $130,000,000. Earnings: The annual cash dividend and interest income, after expenses and taxes, on the securities owned by .k t' J Corpo.rat' June. 30, 1929, based on present cash dividend and interest rates, and including theestimaed mcome to bj derived from the permanent investment of the proceeds of recent financing and of this issue would amount to $8,190 310, equivalent to over 2.16 times all annual dividend requirements on Preferred Stocks to be outstanding, mcluding this issue. If such dividends on securities owned as are paid in the form of S are included and the stock so received s valued on the basis of the current market value thereof, he foregoini net SZ5?L It. equ,va,ent of over 156 times the annual dind k A3 K tsrs s5k Lrsrron a:as Price $99 per Share and Accrued Dividend, Yielding 6.06 The Harris Forbes Corporation Lee, & Co. Kidder, Peabody & Co. Brown Brothers & Co. E. H. Rollins & Sons Edward B. Smith & Co. Schoeiikopf, Hutton & Pomeroy lncrrtl m New Issue ! , $15,000,000 j The Starrett Corporation 6 Cumulative Preferred Stock (Par Value $50) (With Common Stock Purchase Privilege ) FntitW t curaulttlve dlrldrnd? at tin rata of per innum. Dividrnii payable quarterly aa the fint days of January, Aorfl, July and October. This $50 Par Value Preferred Stock is redeemable, at the option of the Corporation, in whole or in part, on any dividend payment date, upon 60 dayt notice, at S60 and accrued dividends per hire. Upon any diminution or liquidation of the Corporation, the holders of this Preferred Stock and the J holder of the Preferred Stock of the par value of $10 per share shall be entitled to receive ratably 120 of the par value thereof and accrued divi- . drnds, before any distribution may be made to tbe holders of the Common Stock. Tbe holders of this Preferred Stock shall be entitled to vote share and . share alike with the holders of the Preferred Stock of the par value of S10 per share and the holders of the Common Stock, if at any time dividends shall be ia arrears or unpaid on this Preferred Stock for sii quarterly periods and until all such dividends in arrears shall have been paid or set apart. The Corporation will agree to refund certain taxes to holders of this Preferred Stock upon written application within 60 days after payment, all as will be provided ia as agreement to be filed with the Transfer Agent. Dividends free from present normal Federal Income Tax. Transfer Agent: The Equitable Trust Company of New Vork. Registrar: Central Hanover Bank and Trust Company, New Vork City. The holder of each share of this Preferred Stock will be entitled, subsequent to April 30, 1930, and subject to previous redemption, to purchase one share of Common Stock of the Corporation at the following prices: To and including April 30, 1931, at $29 per share; thereafter, to and including April 30, 1933, at $33 per sharet and thereafter, to and including April 30, 1933, at $50 per share; thereafter the stock purchase privilege will be void. The Common Stock is listed on The Boston Stock Exchange and the New York Curb Exchange, Business: The Starrett Corporation has been organized under the laws of the State of Delaware for the purpose of con j structing and financing, directly or through its subsidiaries, building operations in the principal metropolitan centers of the United States. The Corporation owns all of the capital stock of Starrett Brothers, Incorporated, which is one of the outstanding construction firms in this country. In addition to its construction activities, which will be handled . through Starrett Brothers, Incorporated, and Starrett Building Company, of Chicago, the Corporation and its other subsidiaries are engaged in the ownership, financing and management of real estate undertakings. The subsidiaries of the i Corporation will include the following: J Starrett Brothers, Incorporated: This corporation is one of the outstanding firms engaged in building construe tion. Unfinished business on hand as of August 31, 1929r amounted to over $45,000,000. ' S Starrett Building Company, of Chicago: The Starrett Corporation has contracted for the purchase of the entirt : outstanding capital stock of Starrett Building Company, of Chicago, one of the most successful construction organiza ! tions in the Middle West J Starrett Investing Corporation: This corporation will have a paid-in cash capital stock of $10,000,000, and in addition, has contracted for the sale of $10,000,000 of its funded obligations. I The Wall and Hanover Street Realty Company: The Wall and Hanover Street Realty Company is the owner of i the 35'8tory Wall and Hanover Street Building, located at 63 Wall Street, New York City, 100 rented to a tenancy j which includes some of the most important banking institutions and law firms in the United States. i Forty Wall Street Corporation: This corporation is to own and operate the Bank of the Manhattan Company J Building, at 40 Wall Street, New York City, now under construction by Starrett Brothers, Incorporated. This cor- , ! porarion was recently the successful bidder for the United States Assay Office site, immediately adjoining the 40 Wall J Street property. The Cincinnati Buildingj This building, to be situated in the heart of Cincinnati, is to be a combination structure, -hich under present plans will include offices, a 7J0 room hotel, large convention hall, department store, and 650 car auto made garage. The building is to be constructed and operated by subsidiaries of The Starrett Corporation. Capitalization: (Upon completion of present financing) Antkarired Oittsteniint Preferred Stock (including this issue) $30,000,000 $l70fl00 Common Stock (So Par Value) 1,300,000 shs. 380,000 shs. 115.000 000 of 6r Cumulative Preferred Stock of the par value of (SO per share with Common Stock purchase prlvileaea; $2,200,000 of 6 Cu.niiia'lv Preferred Stork of the par value of SI0 per share. Upon the acquisition of the capital (toak of Starrett Building Company, of Oiicavo. approtimately 0 000 shares of additional $10 par value Preferred Stock are to be issued. "Shares are reserved as follows: .100,000 shares fof holders of i Psr VaiM Preferred Stork; 17S 000 shares for Bankers options at $21 per share; 125.000 shares for Management options at $20 per share; additional shares are te be reserved for holders ef certain funded obligations of Starrett Investing Corporatioa hereafter le be issued. Earnings: The consolidated net income of The Starrett Corporation and its subsidiaries for the five months ended August 31, 1929, is reported at the rate of over $3.50 per share per annum on the outstanding Common Stock. Upon completion of financing now in contemplation by the Corporation and its subsidiaries, it is estimated that the consoli' dated net income of The Starrett Corporation and its subsidiaries for the first twelve months' period of combined opera tion, excluding income from the operation of the Bank of the Manhattan Company Building and from the Cincinnati building referred to above, will be substantially in excess of the present earnings per share on the outstanding Common Stock. In arriving at such estimate there ha been deducted $892,500 for interest charges on funded debt of subsidiaries. Based on earnings of only $3.50 per share per annum on the outstanding Common Stock, earnings avail able for Preferred Stock dtvidends are more than 2.3 times annual dividend requirements on Preferred Stock to be pres ently outstanding. J Based upon the estimated income from the Bank of the Manhattan Company Building and from the Cincinnati buildin referrea to above, for the year following completion thereof, the annual net income, after all prior charges, accruing to The Starrett Corporation from its equity ownership therein, would be equivalent to an additional $2.50 a share on the out standing Common Stock of The Starrett Corporation. Management: The Board of Directors of The Starrett Corporation includes Andrew J. Eken, Vice-President; Robert - Lovett, of Brown Brothers 6? Co.; G. L. Ohrstrom, of G. L Ohrstrom tt? Co., Incorporated; A. R. Palmer, of Palmer 6? Series, Attorneys; Paul Starrett, Chairman of the Board; Col. W. A. Starrett, President; Henry, Vogt, Treasurer, and A. B. Walsh, Vice-President of Starrett Investing Corporation. Price Per Share $51 and Accrued Dividend TV above In'ormat'on is summarised from and Is subieet the letter ef tbe President of the rrporttoii fn the Bankers. This Preferred Stork fa offered when, as and if meed and rereived by as and subject te the spproval nf counsel. Messrs. White It Caw. of New Verk City, for the J.,ker, fit Messrs. Pslmer series, of New Vork City, for the Corporation; also subject te charier in price and .Tier wis. DeHveor may be tsade ia the first iaataaw ia temporary stack cert ints Lea or ia interim certificates of a New York City bank or trust cempaay. G. L Ohrstrom & Co. lacmfmattd Brown Brothers & Co. Edward B. Smith & Co. Janney & Co. Graham, Parsotts & Co. Tkd ief-Tna'io. sad these statistics, wbBt set gua-antred hs-.-e been teken from seeirres believed to be reliable.

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