PAGE TEN
THE DETROIT EWISH CHRONICLE
sh sta
IN THE FINANCIAL WORLD
BLIND HERO RESUMES
RABBINICAL COURSE
Cincinnati—Michael Aaronsolin, 23,
hero of the war, and the greatest hero
in the history of the Hebrew Union
College, has returned to resume his
studies for the Rabbinate.
During the battle of Argonne about
one year ago, while hearing to safety
a wounded comrade for whom he had
gone into the open, he was struck in
the eyes and blinded by a fragment
of shell. His "buddy" was killed at
the satin time.
The compassion that his friends felt
when they learned of his fate, is apt
to vanish when they come in personal
contact with the optimism and good
cheer of the man himself. llis happi-
ness is in his return to his studies
at the Hebrew Union College and the
University of Cincinnati, in prepara-
tion for his life work. To him, the
absence of eyesight is no handicap at
all. The road to the realization of
his ambition is still passable, and he
intends to walk it guided by his col-
lege companions. The students at the
H. U. C. have pledged themselves to
give him all the aid they can in the
pursuit of his studies,
He enlisted in the Old First Regi-
ment of the Ohio National Guard,
during the first days of the war, after
rejection for service by the Marines,
being undersized. His enlistment was
from purely patriotic motives, as he
was then but twenty years old, and
being a theological student, was ex-
empt from service.
He was promoted, to sergeant ma-
jor after the First Regiment was in.
corporated into the 37th Division. He
is the only member Of that division
blinded in the war. He had learned
the Braille system of reading and
writing at Evergreen School, the gov-
ernment institute for the blind in Bal-
timore, his home town.
Major Isidor Schayer of Columbia,
S. C., has been selected to fill a new
position at the University of South
Carolina in Columbia, created at the
request of the Federal Government.
He will be instructor in personal and
twat sanitation and not only will he
give instruction in this branch, but
, also instruct the students in personal
:hygiene and health.
Woods, Swan & Edwards Co.
Members Detroit Stock Exchange
Inquiries Solicited in All Markets. Stocks Carried
on Conservative Margins
The young hero arrived in Cincin
nati with his sister who has come
here to be the—light of his darkness.
7% FIRST MORTGAGES
PITTSBURG BOY WINS
HARVARD SCHOLARSHIP
illgrOPEEP
New Issue
$300,000
Arctic Ice Cream Company
Bankers Land and Investment
Corporation
The Million Dollar Housing Corporation
Main 2530
143 Griswold St.
8% CUMULATIVE PREFERRED STOCK
Par Value, $100.
Detroit, Mich.
Fill out this slip and we will tell you all about 7% mortgages:
Gentlemen:—
Kindly tell me all about your 7% mortgages.
Name
Address
Free from State, City and Normal Income Taxes.
Preferred as to Dividends and Assets
The net assets of the Company show a value of $416
for each share of Preferred Stock outstanding.
Earnings for the last three years have averaged over
three times dividend requirements and conservatively
estimated, net earnings for current year, after deduct-
ing taxes. will be over tive times dividend requirements
on the stock now to be issued.
A sinking fund of $16.000 per year is established for
the retirement of this stock at a price up to $110 per
share.
5.
Detroit Pressed Steel Company
Circular on request.
NEW ISSUE
PRICE—Par and Accrued Dividend, to yield 8%
$1,500,000 7% Cumulative Preferred Stock
Watling, Lerchen & Co.
(Par Value Shares
$100)
Investment Bankers
Peoples State Bank Bldg.
...Preferred Both as to Assets and Dividends
•
CAPITALIZATION
WE OWN AND OFFER FOR SALE
Outstanding
Authorized
$2,500,000
80,000 shares
$1,500,000
67,230 shares
ONCERNING the business of the Detroit Steel Company, we quote from a letter of the president, Mr. Hobart B.
Hoyt, dated September 15, 1919: •
"The Company was organized under the laws of Michigan in 1909 for the manufacture of pressed steel products,
and was reincorporated under the laws of Delintare in 1919. Its specialty is the manufacturing of pressed
steel automobile frames and Disteel' wheels for passenger cars and trucks. It also manufactures medium and
heavy-weight pressed steel stampings. Included among its customers are the following well known companies:
Dodge Brothers, Packard Motor Car Company, Cadillac Motor Car Company, Hupp Motor ('ar Corporation,
Oakland tlotor Car Company, General Motors Truck Company, Federal Motors Truck Company, Republic Motor
Truck Company, Commerce Motor Truck Company. Apperson Brothers Automobile Company, Columbia Motors
Company, Detroit Electric Car Company, Denby Motors Truck Company.
"The Company owns nine acres of land in the City of Detroit adjoining the property of the Packard Motor Car
Company. Most of its buildings have been erected within the last five years and are of heavy reinforced con-
crete and brick construction. They contain approximately 225,000 square feet of floor space.
"The Company has spent considerable time and money in the development of a steel disc wheel, known in the
trades as the 'Disteel' wheel. We have every reason to believe that the demand for them will continue to increase
and that this branch of the business will develop into a very important 1111d profitable end of the business. While we
have spent considerable money in the development of these wheels. and own exceedingly valuable patents, such patents
are carried by Bs at 1111 asset value of only one dollar.
Earnings
Purpose of the Issue
The proceeds to be derived from
the sale of the preferred stock will
be used to retire the old issue of the
preferred stock, the outstanding
issue of serial notes, to pay all float-
ing indebtedness, and to provide ad-
ditional working capital necessary to
handle the increased business which
is offered.
Security
This Company has no mortgage or
funded debt and agrees not to create
any such lien without consent of Pre-
ferred Stockholders.
Assets
Total net assets, $3,481,892.41, are
equal to over $232 per share, and
the Company agrees to maintain
total net assets equal to 200%. and
net quick assets equal to 10070 of
outstanding Preferred StoCk.
A Story Told in
Eighteen Letters
In the little bcoklet—"A Story Told
in Eighteen Letters," you will find an
expression of opinions concerning the
merits of the "Disteel" Wheels from
men who are among the leaders In the
automotive Industry.
Edward S. Jordan, A. H. McFarlan,
J. Walter Drake, Geo. M. Holley, are
a few of the many who have taken
the time and trouble to set down on
paper their thoughts. We feel that
these men are In a position to speak
knowingly—the fact that all of them
heartily endorse the Disteel Wheel, we
believe, you will want to consider in
connection with a contemplated invest-
ment In Detroit Pressed Steel Company.
Disteel wheels have been widely ad-
vertised and are well known. They
are today listed as equipment for many
of the most expensive and distinctively
individual cars in America.
Write for This Little Booklet
Grand Rapids
,..21021MIEPR
(Upon Completion of Present Financing)
Preferred Stock 7% Cumulative (par value $100)
Common Stock (no par value)
Michigan Trust Bldg.
Detroit
Dividends payable quarterly January 1, April 1', July 1 and October 1
Redeemable in whole or in part at $110 and accrued dividends on thirty days' notice
Dividends Exempt from Normal Federal Income Tax
C
Main 6020
310 Congress Bldg.
ON HIGH GRADE IMPROVED PROPERTY
Why receive only 6% when we will place your money on the best
grade of Detroit real estate„ with new houses on, in best residential
' districts and net you seven (7) per cent, payable semi-annually, with
principal and interest collected and guaranteed by us.
You pay more for your living expenses—why not get more for
your interest money? JUST SEND YOUR MONEY IN.
Seven Per Cent Interest and Absolute Safety
Call or Write Us About Safe Investments
Bond Department
Cambridge. Mass —Emanuel A ns-
(usky, of Pittsburgh, a graduate of
Harvard, class of 1918, has been
awarded the faculty scholarship at the
law school of Harvard University.
Mr. Amdursky is now a second-year
student at the Harvard law school.
The faculty scholarships are award-
ed to a limited number of meritorious
students who have been in the school
one full year at least, and who intend
to remain in the school for the full
three years' course. The award is
made by the corporation on the rec-
ommendation of the faculty, at the
beginning of each academic year, but
preference is given to members of
the third-year class.
The recently organized Society for
Promoting Sabbath Observance, of
Baltimore, Md., is progressing. The
purpose of the society is not to induce
Jews to observe Sabbath, but to make
Sabbath observance possible for those
Jews who are by reason of their em-
ployment or other economic condi-
tions compelled to violate their re-
ligious scruples as to Sabbath.
o
For the last four years, net earnings,
after depreciation, but before Fed-
eral Taxes, were approximately
1`1,553,183.75, or tm average of
nearly times the annual divi-
dend requirenwnts on the issue of
Preferred Stock. On the basis of
present contracts, earnings for the
• rrent year should greatly exceed
:his ratio.
$1,500,000
STATE OF MICHIGAN
41/2%
Highway Bonds
Dated November tat, 1919
Due November 1, 1934
Interest payable semi-annually at State Treasurer's
Office or any bank in Detroit.
Denomination $1,000
These bonds are exempt from all taxation, State and
Federal, to the same extent as United States Govern-
ment 3 1 /2c( Bonds.
Subject to prior sale or advance in price, we offer
these bonds at 102 3 /4 and interest.
Netting 41/2%
Matthew Finn Bank
82 Griswold Street
'Phone Main 6104
Restrictions on Common
Stock Dividends
No dividends shall be declared on the
Common Stock until:
(a) Dividends at the rate of 7°: per
annum on all past quarter yearly
dividend periods shall have been de-
clared and paid on the preferred
stock or funds for the payment
thereof set aside.
(b) All arrears in respect to the acquisi-
tion of the preferred stock as per
terms of the Sinking Fund have been
made good, and
(c) The proper ratio of both net quick
and total net assets are maintained
as above set forth.
Investors
The securities owned and recommend-
ed by us were purchased only after a
tricot thorough investigation.
41/2%
All matters pertaining to the legality of this issue have been approved by Henry E. Rodman, Esq., of Detroit, for the Company, and
Messrs. Miller, Canfield, Paddock & Perry, of Detroit, Messrs. Reed, Smith, Shaw & Beal, of Pittsburg, and Messrs. Hart, Stevenson,
Walton & Senior, of New York, for the bankers.
to
8 1/ 4 c/o
The appraisal of the property was made by the American Appraisal Company, and the audit by Messrs. A. W. Ehrman Company,
Public Accountants, of Detroit for the company, and by Messrs. Price, Waterhouse & Company, Public Accountants of New York,
for the bankers.
with safety
They combine safety of principal, a
regular income and a ready market.
Ask for our latest offering sheet which
contains a large selected list of attractive
Bonds, Notes and investment Preferred
Stocks, yielding from 444% to 8 14%.
We shall be pleased to carry any of our
offerings on our I'artial Payment Plan.
Price 97 1/2 and Accrued Dividends
Complete information on request.
Temporary Certificates are now ready for delivery
)
Paine, Webber & Company
140-148 Penobscot Building, Detroit
,Bonbright & Company
Telephone Main 5766
BOSTON
NEW YORK
MINNEAPOLIS
CHICAGO
ST. PAUL
PHILADELPHIA
GRAND RAPIDS
[
Further Service to the Investor,
Office open Monday evenings from 7:30 to 9:30
MILWAUKEE
DULUTH
The statements contained herein are not guaranteed, but have been obtained from sources which
we believe to be reliable and were accepted by us as accurate In the purchase of this issue.
Ground Floor, Union Trust Bldg.
Cor. Congress and Griswold Sts.
Detroit, Michigan
Telephone—Cherry 4320