Evening star., 1928-09-19

600 due September Victor b. peyber.
/, 1948.
The company will own in fee simple
and will operate five modern apartment
| houses, four apartment hotels. including
| the Wardran Park Hotel and the hotc
| addition now being constructed; the
Carlton Hotel and one office buildine
| leased to the United States Department
of Justice. The properties of the COM
! pany have recently been e2mined by
engineers, who, upon the Basis of re-
production cost new. less depreciation
| report a valuation of $23.837. .146. This
furniture. furnishings and equipment
| and valuation of $2,l53687 for the
| Wardman Park Hotel addition, but ex
elusive of the furniture and furnishings
to be installed therein.
These bonds. together with total un.
derlying mortgages to be outstanding
will represent IS per cent of this valu.
| alton, according to Halsey, Stuart &
| Co.. head of the participating syndicate
! The firm estimates total annual net
| income of $1.509,186, after deductins
interest of $276,544 upon closed under.
+, living mortgages. but before deprecia.
ton and Federal income tax. The in.
| terest on these first and refundine
mortgage bonds will require $7l5,000
the announcement adds.
Banker Heads Red Cross Aid.
One of the busiest bankers in Wash.
! ington just now is Victor B. Deyber
| AS chairman of the relief committee
of the local Red Cross, the Southern
/ hurricane has brought great responsible
| tiles to him. Relief funds are being
handled through the G street branch
of the. Second National, and Mr.. Deyber
reports that Washington people are al.
ready beginning to respond most gener-
ously. The bank president was chair
man Of the same committee during the
japanese and Mississippi disaster re-
| lief campaigns, when such large sums
were contributed. The citys quota In
the present emergency is $4,000.
Lauds Newspaper Advertising.
In an address read before the finan-
cial advertisers convention yesterday al
Utica, John Poole, president of the Fed
eral-American National Bank of this
city, said:
Buying space in newspapers-buying
booklets and blotters-buying a series
of direct mail letters-these things in
themselves amount to nothing The
thing that does count is the message
| and, Of course, the medium for its de-
| livery is equally important. In my
opinion newspaper advertising produces
more sales than any other form of ad-
vertising. Newspapers gather the news
of the world, which they broadcast al
most Immediately to every one-every-
where. Newspapers, therefore, are the
best medium for displaying to the gen.
eral public the services we have to sell
The messages. which We call adver-
tisements must be so written. so illus
trated, so set-up as to attract attention
arouse interest and create desire before
the reader will be induced to buy. hence
the advertising expert writes the best
message and brings the best results.
Human interest goes much farther
In advertising than cold logic-that Is
where the expert writer with imagina-
ton comes In. Not infrequently do we
find a banker who Is talented in this di-
rection. Splendid! II you have that
knack do 1t yourself and thus reflect
! your own personality The soul of every
business shines out through advertis-
ing"
New Mortgage Notes in Demand.
1t was reported today by Shannon &
Luchs that there has been a lively de-
mand for the new 100000 issue of {
per cent first mortgage notes on the
Park Tower Apartments which were
of1ered yesterday AS announced In
the advertisement, the value of the
apartments site and building. which is
to be erected on Sixteenth street next
to the French Embassy, has been esti.
mated at $4,000. Since the amount
of the first mortgage loan is 100000
1t is only SO per cent of the estimated
value. The notes are priced at 100 tc
yield per cent.
Sanitary Grocery Leads Market.
In heavy trading on the Washington
Stock Exchange today Sanitary Grocery
preferred jumped to 135 per share on Z
| 16-share turnover. Other local stock.
! were also strong. Peoples Drug ane
Mergenthaler were among the mos
active issues. There was $4,000 turn
over In Washington Railway & Elec'
trio As at 927s and other bonds were
equally firm. Railway & Electric pre-
| ferred stock sold at par. Capital Trac'
ton SIS moved at 1919. Gas bonds wer,
in extra good demand.
Local Dividends Declared.
The American Security & Trust Co
has declared the regular quarterly divi
dend OF 3 per cent payable October
10 to stock of record September 80.
The Merchants Transfer g. Storage
Co. has voted the regular quarterl!
dividend of SITS per share on the pre-
ferred stock.
Bank Women Hold Dinner.
The annual dinner of the women
committee of Washington Chapter
A. B., held at the Y. w. G. A. las
evening. was a brilliant success. TIL,
chief speakers were Judge Mar,
O'Toole. Raymond B. Dickey of th'
institute faculty, Frederick p. H. Sid
dons. secretary of the American Sc
curity 81 Trust Co, and James A. Siper
chapter president.
All the speakers stressed the impor
tance of banking education for women
Mr.. Siddons spoke particularly of tn,
success women have already attained
as secretaries. tellers, financial Librarian
and managers of departments.
He noted the trend on the part o
those In control to employ women NOR
and more in banking noSitions of r.,