PAGE TEN THE DETROIT JEWISH CHRONICLE LE12101- 661- a MARKET REVIEW, BY LESSONS OF WAR O'HARA-FERRISS CO. BOOMING BONDS Great activity in Continental Mo- Demand for bonds, municipal and tors featured the past week of trad- 0 industrial, by both large and small ing on the Detroit Stock Exchange. 0 investors in Detroit is almost un- Persistent rumors regarding a Gen- precedented, according to houses eral Motors merger are responsible specializing in that field. And this for the increased trading. l'ackard condition is attributed largely to the and Ford of Canada have also dis- wide distribution of Liberty bonds played strength. The reduction of among millions of people during the the par value of the former, and the war. stock dividends possibilities of each These government. securities going. have served to make them both very into the hands of people, who be- attractive. fore the war had no conception of The remainder of the motors held the financial market and whose idea firm and sold III good quantity. Noble of a bond often was merely some- Oil advanced materially and appears' thing that frequently kept folks out strong at the higher level. Among the industrials Wolverine of jail, has developed a new trade for bond houses. II. Vaughn Clarke, showed the greatest strength, with a of Bonbright & Company, said Tues- full point gain. An improved factory and increasing earnings seem to day. Partial Payments Introduced. augur prosperous conditions for the Ask for circular giving inter- Consequently, efforts are being Company next year. esting details of this issue Market sentiment is very optimis- made not only in Detroit, but throughout the country, to educate tic regarding all the leading issues the public to appreciate the invest- The Supreme Court decision relative ment and savings possibilities of ad- to taxability of stock dividends is ex- pected during the current month, and vised bond-buying. These efforts include partial pay- should produce great activity among ment plans, such as enabled thou- the high priced issues. sands of people with little capital to C. M. DEMON & CO. ANNOUNCE buy Liberty bonds. The type of bond that has the great- OPENING OF GD. RAPIDS OFFICE est appeal for the "little fellow," the man with $100, $200 or $1,000 to in- M. Deakin & Co. in announcing C. DETROIT OFFICE vest, is the industrial, Mr. Clarke the opening of an office in Grand Rap- said. Especially the bonds that have ids, report satisfactory business. 56 West Congress Street Ground Floor a convertible clause, offering a specs- They also report that their New York Ilative inducement to the buyer. The stock department is now under the Telephone Cadillac 2302 Peoples State Bank Building I American public always is inclined to personal management, with direct SISISI take a chance, Mr. Clarke said, and wire connection, of Mr. Doyle Kel- J as it is always looking for a large re- logg, who has had over ten years' ex- turn On its investment, bonds offer- perience with several stock exchange ing a safe and sane interest return firms in various capacities, including 0ationssimunisinisisi u iinutiuminnitstiossiniammissinsaiiii i iiis m an a til li tsiaisionsmom m umittissisisson have been slighted by the great buy- representation on the stock exchange ing public in the past. But the Lib- floor. erty loan issues have shown that this 1 type of investment is much the same as placing money in the bank, al- Many Charitable Bequests though the interest return is mostly In Mrs. Lehman's Will always greater, and a result bond- buying has increased, he says. New York—The will of Mrs. Babette PREFERRED STOCK St 01 Arctic Ice Cream Co. Watling, Lerchen & Co. Investment Bankers We Own and Offer Subject to Prior Sale Detroit Has Much Money. Detroit apparently has more money now than it knows what to do with according to Mr. Clarke. He said shop girls, stenographers and clerks are now numerous as bond-holders. As an example of the easiness of money in Detroit, he cited the recent sale of $1,000,000 seven per cent cum- ulative participating preferred stock in the Detroit Seamless Steel Tube It was all gone in six company. hours and the buyers were not ex- clusively those of large blocks. Many $100, $200 and $500 lots were sold. Mr. Clarke was of the opinion that the demand of the public for high- class bonds is growing so rapidly that it will not be long before banks will be forced to establish departments for the sale of them along the same lines that Liberty issues were handled. While industrial bonds of a con- vertible nature are the most popular variety among the small buyers, the municipals are attracting the large investors. I State of Michigan Highway, 4 1/2's, 4.25% Basis due 1934 City of Detroit 4 1/2's, due 1948 4 35% Basis Mansfield, Ohio 5 1/2 'a, due Serially 4.75% Basis Mingo County, W. Va. 5's, due 4.85% Basis .. Serially a a MORTGAGES 7% FIRST GRADE IMPROVED PROPERTY I O N HIGH Why receive only 6% when we will place your money on the best grade of Detroit real estate„ with new houses on, in best residentka 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 Bankers Land and Investment Corporation The MIllidn Collar Housing Corporation Main 2530 143 Griswold St. Douglas, Ariz. 6's, due Serially 500% Basis Clifton, Ariz. 6's, due Serially 5 20% Basis fi FIRST JEWISH PORTIA IN THE NORTHWEST MINNEAPOLIS, MINN. —'Miss Eleanore Harriet Bresky, of Mimic- apolis, Minn., has the distinction of being the first Jewess in Minnesota and the Northwest to be admitted to the bar to practice law in the State of Minnesota. She is a graduate of the Northwestern College of Law with the degree of L. L. B. Miss Bresky was a teacher in the local public schools, and she resigned from her position to take up the study of law. She is one of the best known Jewish women in Minneapolis, being connected with the work of various Jewish organizations for many years. She was superintendent of the Sab- bath school conducted at the Kenne- seth Israel Synagogue before the new edifice was erected, has actively in- terested herself in all phases of wel- fare and social work, and is an ardent suffragist. MATTHEW FINN BANK 82 Griswold Street, Ground Floor. Detroit, Mich. Main 6104 bummi limaimmilmomumummulimummanolummiummalumlimminuommum.......... m C. M. DEAKIN & CO. Members Detroit Stock Exchange ANNOUNCE the establishment of direct wire connections with Clement Curtiss & Co. and Chicago Members New York Stock Exchange Chicago Board of Trade Chicago Stock Exchange Through the above correspondents we are enabled to reach the principal cities of the United States and Canada by wire and give our clients the very best of brokerage service. 408 Grand Rapids Savings Bank Bldg. 801.2 Dime Bank Bldg. GRAND RAPIDS DETROIT Van Emburgh & Atterbury New York Members New York Stock Exchange Lehman, mother of Supreme Court Jus- tice Irving Lehman, disposes of an estate of more than $500,000 and gives many bequests to charity. Gifts of $5000 each are left to the United He- brew Charities, Monteftore Home, Young Men's Hebrew Association, He- brew Benevolent and Orphan Asylum, Hebrew Technical Institute, Home for Aged and Infirm Hebrews, Educational Alliance, Jewish Protective Aid So- ciety and Crippled Children's East Side Free School. he will gives $2500 each to the He- brew Technical School for Girls, Beth Israel Hospital, Home for Hebrew In- fants and St. Vincent's and Presbyterian Hospitals. Mount Sinai Hospital gets $7500. Justice Lehman gets $50,000 and all the personal effects are divided among him and his brothers, Sigmund, Arthur, and Herbert H. Lehman. Seven grand- children get $10,000 each. The resid- uary estate is divided among the broth- ers and their sisters, Harriet L. Good- hart, Settie L. Fatman and Clara L. Limburg. Reorganizations and Dissolutions In the work of organizing business associations, dis- solving partnerships, or its interesting outside capi- tal, the impersonal per- spective of judgment is invaluable in arriving at an equitable agreement. This work of viewing with impartiality the cold facts of a given problem is one of the very impor- tant branches of Certified Public Accounting. grw6. Certified Public Accountants Jewish residents of Pittsfield, Mass., members of the Congregation B'nai Sholom, dedicated their first syna- gogue last month. The synagogue ac- commodates 300 persons. (New York) Dime Bank Bldg. Cherry 271 Woolworth Bldg., New York Investors The securities owned and recommend- ed by us were purchased only after a most thorough investigation. They combine safety of principal, a 4 1/2% regular income and a ready markeL to Ask for our latest offering sheet which contains a large selected list of attractive 8 1/4% with safety Bonds, Notes and investment Preferred Stocks, yielding from 4 1/2% to 8 14%. We shall be pleased to carry any of our offerings on our Partial Payment Plan. Complete information on request. Further Service to the Investor, Office open Monday evenings from 7:30 to 9:30 Bonbright & Company Ground Floor, Union Trust Bldg. Cor. Congress and Griswold Sts. Detroit, Michigan Telephone—Cherry 4320 Timken-Detroit Axle Motor Products Corporation Hayes Wheel Co. We recommend that the stock of the above companies be bought at the present prices. Quotations and information on these and all other securities will be fur- nished on request. A. W. Wallace & Co. (Members Detroit Stock Exchange) PENOBSCOT BUILDING Cherry 2800 01:101=10=0=0=0)=== 10=101===r00 • 0=0=2 TIMELY BUYS 0=10)=0=10=Ori ) E O U teaches—a maxim a perhaps perhaps truer in the wide ramifi- cations of modern finance than in al- 0 0 business generations this Institution I 5 highly valued by our clients. For overseas trade or for domestic commercial and savings business, the Cherry 829 $800,000.00 FREE FROM STATE, CITY quality of our service is very much AND NORMAL INCOME TAXES worth your careful inquiry. Capital and Sur- plus $7,500,000. Members Detroit Stock Exchange Second Floor, Dime Bank Bldg. 00n0t==oesi000em03= 10 =i0 c== 102:10 ment of our section. Its co-operation and guidance are, therefore, naturally O Information which we have regarding im- RD pending developments in PAIGE, PACKARD and CONTINENTAL stamp these securities as the best purchases at the present time. Your inquiries solicited. O'Hara Ferriss & Co. most any other field. For several has been closely interwoven with ev- ery advance in the business develop- O Detroit Gear & Machine Company of Detroit (a Michigan Corporation) 8% CUMULATIVE PREFERRED STOCK Par Value $100 O $100 a Share and Dividends to Yield 8% ItIFIST,OLD DETROIT X‘TIONAI BANK ISMER FEDERAL RESIRVE BANS Complete information upon request As participants In the Syndicate we solicit your order. U 0 W. E. MOSS & COMPANY Investment Bankers Union Trust Building, Detroit Telephone Main 4612 Members Detrolt Stock Exchange n o= oz===t =m .• orso •oza0==t0 n o 0 Detroit, Mich. Fill out this slip and we will tell you all about 7 70 mortgages: Gentlemen:— Kindly tell me all about your 7% mortgages. Name Address GRAND RAPIDS DETROIT V stl 64 IN THE FINANCIAL WORLD t sh Your Passport to success is a bank-book. Aims, desires, ambitions or wishes don't go— You are not ready for opportunity until you can show that you have saved some- thing from your toil. Not until then do you deserve success. F IRS STATE BAN KT OF DETROIT Griswold and Lafayette Nine Convenient Branches