The Washington herald., 1921-07-17
WALKER co. OFFERS
FIRST MORTGAGE
LOAN OF $3OO,OO0
Issue of 79c Serial Coupon
Bonds Secured by Bel
mont Building.
2 TO 20-YEAR TERMS
Obligation Is TO Be Offered
In Sums of 500, $500,
And $1,000. -.
2 TO 2O-YEAR TERMS

Offering Of an issue of 100000.
first mortgage z per cent serial cou-'
pom gold bonds. secured by the new
Belmont Building, including thester
and stores at Fourteenth street and
Florida avenue. was made yester-
day by the Allan Z. walker Invest
meRt Company. -
The borrowing corporation is the
belmont building Company, Of
which former United States Senator
Hoke Smith is president. and Off
GERS are well known Washington
business an dprofessionaI men
in its announcement the company
states that the issue constitutes a
direct, closed first mortgage on the
land. buildings and equipment, pos
sessing a valuation that leaves a
large margin of safety and a nrst
lien on earnings of the property.
which the company estimates at
several times the annual interest
charges.
These bonds are offered in sums
Of 500. $500 and $1,000, extending
over terms ranging from two TO ten
years. Amortization Of the mort
cages is provided for by monthly.
payments. equal to one-twelfth the
amount OF principal and interest
falling 1ue in that year. II il
stated that at the price offered the
net interest yield on these secur-
titles will approximate $50 per cen:.
Serial maturities enable the in
vestors TO select bonds maturing
in any year desired.
Location Of Property.
Property covered BY the mort
gage is located at the northeast
corner OF Fourteenth street and
Florida avenue northwest. fronting
2l7 feet on Fourteenth street and
contains 25.7is square feet The
I building. which will embrace a fine
modern theater seating about 1.7lo,
and eight modern storeroons on
Fourteenth street will he Of hrc-
proof construction throughout and
modern in every way.
This buildinE enterprise marks
the occupancy Of the only vacant
property in that section on -Four
teenth street II is the center Of
an area containing many large
apartment buildings and an unus-
ual density Of population. Since
initial announcement or this de-
]
throughout this entire section haa
been very marked.
A. .. ". Delegation. OF.
delegation Of eleven members
of the local chapter of the American;
Institute Of Banking. several Or
whom were accompanied by rrenr-
bers Of their families. left yester-
day afternoon over the Baltimore
and Ohio Railroad for Minneapolis.
where they will attend the ,conver.
tion Of the organization. TO be held
there from July 1s to 90
The special train which carried
the Washington delegation came
| from New York. and carried repre-.
seHtatives to the convention from
other Eastern cities. A delegation
from Richmond also boarded the
train here
Those to go from here were Mr..
and Mrs. Z. J. McQuRde. Mr.. ana
Mrs. Francis C. Addison. jr.. Mr.. and
Mrs. W. J. Waller. Charles N.
Boyer. A. r. Dexter. J. c. Dulin. 4
r. Fisher, G. A. II. Herman, Ross
r. Pollock. Norman Y. Towson. Mrs
r. C. Towson and Miss Towson. The
delegation will stop over in Mil
waukee tomorrow afternoon. where
they will be entertained by the Mil
waukee chapter Of the institute.
Call for Punds
Secretary Mellon yesterday morn
ing called on all national banks
holding proceeds of the June Is
note and certificate sale 20 pay into
the regional banks OF which they
are members 30 per cent Of the bal
| ance of such credits
This payment must be made On
! Tuesday. After this settlement
there will remain with the banks
IS per cent OF the total proceeds
from the note and certificate sale
lcr about SlO7.oOo.OOO. This will
probably be entirely Withdrawn by
| August