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PAGE FOUR

THE DETROIT

EWISH CHRONICLE

IN FINANCIAL DETROIT

SINCLAIR OIL

Oil production in the United States
Is running at record figures, but con-
sumption keeps ahead of It. Prioir to
the offering of $50,000.000 notes, Sin-
clair Oil had a working capital equiv.
alent to $2.40 per barrel of production.
This was materially increased by the
additlional financing. so 111111 the com-
pany has been in a strong position to
increase production. Earnings for
1919 after taxes but before deprecia
lion and depletion were $19,651,235.
After deducting depletion charges es-
timated at $9,000,000 this would be
equivalent to $2.50 per share. The
company now reports earnings before
depletion for the first six months of
1920 as an. 542, 676 or at an annual
rate 58 per cent ahead of 1919. De.
darting estimated depletion charges
of $5,000,000 would leave close to $2.50
per share or the same as earned in
the whole of 1919. ('urrent quotations
place a valuation of $150,000,000 on
the property, on which earnings before
depletion are at a rate of 20 per cent.
By the end of the year close to 4,000,-
000 shares will be outstanding.

O

(1:IRST MORTGAGE ')
BONDS ..
4,1. , 1-- .14.1.-0e.- - `

I the derelict, difting the uncharted seas, could

narrate its story, it would tell that its owner was

lured from beaten tracks by the gleam of gold and

BALDWIN

sudden riches.

Baldwin Locomotive Works is one
of the companies that has !node no
distribution of its war profits. During
last year, which represented a transi-
tion period from war to a peace basis,
the company earned $27.35 per share
common. Average earnings for the
past three years have been $39.80 per
share and in the same period $115
per share has been put back into the
property. Allowing par for the bonds,
present market valuation of the , prop.
erty would be $54,000,000 and deduct-
ing net quick assets of $24,000,000
would leave a valuation of only $30,-
00)1,000 for the plant with its capacity
for over 3000 locomotives per annum.
The railroads are ion the market for
motive power to a degree never before
known and under efficient Baldwin
management, earnings of record pro-
portions should result. The stock was
placed on a 7 per cent dividend basis
in 1919 and present quotations com-
pare with a high of 149(4 made last
April.
OTIS AND CO.
August, 1920.

The seas of Finance are strewn with the wrecks

of the venturesome. But there is a definite course

well known to the experienced—a sure, safe and

positive way to prosperity.

Such a course is offered by our First Mortgage

Bonds with their safe 6' , interest.

Denominations range from $50 to $1,000; tax

exempt in Michigan; Federal income tax of 4(0

is paid by mortgagor.

METROlif Da0ThirGAG

AV

CORPORATION

.

We Own and Offer

$25,000

CITY SERVICE SERIESC

7e,"( Convertible Gold

Debentures

Due 1-1-66

Normal Federation Income Tax

not exceeding 2`; Paid.

Convertible feature is unusual and attractive.

Take this up with us.

Dansard-Hull-Bumpus Co.

47 Congress St. W.

Members Detroit Stock Exchange

Main 3410

0=0

Motors, Oils, Mining and Curb Industrials for Cash
or on Moderate Margins

6 CHARLES A. STONEHAM & CO.

1

Real Estate Exchange Bldg., Detroit

TELEPHONE CADILLAC OM
(Established 1903)
41 Broad Street, New York
Direct Privets Wires
Weakly Market Letter Sent Thee

a =0=1 CI

0

"No Promotions"

1=0=0•

= 1=1

OTIS & COMPANY

(Members of New York, Detroit, Cleveland, Chicago Stock Exchange.)

ORDERS EXECUTED IN MOTOR, RAILROAD AND INDUSTRIAL

STOCK ON ABOVE EXCHANGES

Second Floor Majostis Blda.

, U,

CADILLAC 6603

130.ARD AND ROOM w.NNTE1)---
ming lady desires single room,
furnished, with private family.
breakfast and supper. A. E. Isaac-
son, 411 GratMt avenue, Cadillac
3620.

wANTED

PLEASANT ROOM be
two young men; within I•o-mile
circle and near car-line; must have
separate beds. State location,
number of windows and price. Ad-
dress Box 987, Detroit Jewish
Chronicle.

rillUSUAL PROFITS

are being earned by the

Union Investment Company

Organized for the purpose of financing
dealers in motor vehicles, building con-
tractors, etc. Incorporated February 6,
1919. Authorized Capital Stock $200,-
000-8 per cent preferred; $200,000
common.

110051 1-011 RENT—For two. Twin
beds, modern apartment, centrally
locatvd. Private family.
Refer
encer reouired. Telephone North-
way 5722-R.

This is not an ordinary proposition, but an unusual
investment.

In the Case of Credit

Practically the entire capital is kept in cash or nego-
tiable paper ,affording unusual security combined with
careful, experienced management and moderate ex-
penses.

They had gone through a growth
of expansion, with even a bigger
field before them. ('ertilied Public
Accountants made an audit pre-
liminary to an attempt to raise
additional capital.

An increase in capital stock makes available for a
short time an opportunity to share in the substantial
earnings of a going financial institution.

The officers and directorate are a guarantee of fair-
ness to both stockholders and clients.

The report showed that they were
in even a better position than it
had been supposed. They were
therefore able to conduct banking
negotiations on more equitable
terms to themselves,

Abraham Cooper, President.

An audit by Certified Public Ac-
countants eliminates all guess
work as to your true financial
worth.

Claude M. Beers, Director.

OFFICERS AND DIRECTORS

Leonard E. Brown, V.-Pres.

David Cooper, S

'y-Treas.

Assistant Cashier National
thank of Commerce.

Julius Rubiner, Director.

Assistant Cashier First State
Bank.

Lent D. Upson, Director.

Formerly Executive Secretary
of the National Cash Register
Cowpony.

Write or Phone for our Booklet—

Certified Public Accountants

Penobscot Bldg.

Main 1041

Woolworth Bldg., New York

ABRAHAM COOPER

TELEPHONE—CADILLAC 7509 - 7510.

2219 Dime Bank Bldg.

Detroit, Michigan

Morally and Politically
Improved,
Economically Worse, Relief
Committee Reports.

Real Estate Exchange Building

Dated 1 -1 - I 9

FOR RENT—Room suitable for Iwo
nice young men or a couple, call
before 10 a. tn. or Sundays. at 107
endrie, Mrs. J. Simons. T ele-
phone, Northway 2705-M.

CONDITION OF JEWS
IN RUSSIA MUCH
BETTER, SAYS FISHER

.

Third Floor

Main 1823

PLE.ASAN"F ROOM—Private Jewish
tamily. $6.00 per week. J. Leader,
144 Ilendrie avenue.

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NEW VORE—"Econotnically and
culturally worse, morally and po-
litically better"—thus the condition
of the Jews in Russia was described
recently by members of a commission
sent to that country by the Joint Dis-
tribution Committee for Jewish War
Sufferers. Judge Harry Fisher of
Chicago, as spokesman for the com-
mission, which returned on the Savoie
Lot Monday. declared there were 150,-
000 Jewish orphans in the Ukraine
alone and that cholera and typhus
were ravaging both Great and Little
Russia.
"The Soviet Government is sincere-
ly trying to remedy conditions for the
Jexcs," he continued, "but they are
hampered by the chaotic state of af-
fairs in the country at large. Fur-
thermorc, the Communist regime for-
bids the formation of private phil-
anthropic organizations. The Govern-
ment's Department of Public Welfare
must therefore look after all social
betterment and the leaders' energy
and time are so concentrated upon
the war against Poland and the needs
of the army that they are unable to
give attention to the wants of the
people at home.
"Politically the Jews are far better
off than before the revolution, for
then they were forbidden to hold
public office or to exert their influ-
ence in any way, while today they
are taking part in the councils of the
Government, occupying many admin-
istrative and
secretarial
positions.
Since they are
for
the most
part well educated they have nat-
urally become the leaders of the
85 per cent illiterate peasant class.
The talk of the Soviet Government's
being controlled by the Jews is, how-
ever, absolutely unfounded."
The Zionist movement is strong in
Russia, according to Judge Fisher, 85
per cent of the Jews there being its
adherents. When the committee final-
ly got into Russia last July, he said,
the 107 Zionist leaders of that coun-
try were all in prison, but through
the committee's efforts they were re-
leased. The committee will recom-
mend that $1.000,000 a month be ex-
pended to alleviate the hardships of
the Russian Jews.
Judge Fisher told reporters that all
parties were united to defeat Poland.
A strong nationalist spirit is thus be-
ing created, he said, although firmly
opposed by the Government, which
seeks to enforce its principles of in-
ternationalism through a rigid control
of the press and the schools.

CLASSIFIED

FOR RENT—Beautifully furnished
room for one or two gentlemen on
West Grand Boulevard. Conven-
ient to two car lines. Call Wal-
nut 2983.

976 BRUSH—Furnished room for
business man in private family.
Board if desired. Fine residential
district between three car lines.
\
976 Brush St.

BUSINESS FOR SALE—Well es-
tablished furnishing goods. Store
in lively neighborhood. Can show
increasing business with good
profits. Bargain. chance. Phone
Hendrick 7326-R.

ARE YOU looking fora duplex or a
flat? Splendid buys in this North
Woodward section. Good oppor-
tunity if sold quickly. Phone Hem-
lock 7326-R.

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The Girl at Central

Not long ago, near Flint, Michigan, in a fire that threatened a huge loss of
life and property, a brave telephone operator remained at her post sending
out calls for help until her switchboard was out of commissionand her
clothing enveloped in flames.

This is only one of hundreds of cases that are on record where operators,
on their own initiative, saved entire communities from burning, floods or
other danger by calling all available help from surrounding districts.

The Michigan State Telephone Company is naturally very proud of
its operators—proud of their heroism and unfaltering courage, but it is prouder
still of this rare sense of duty that has always prompted the operators to
stick to their posts in the face of danger, epidemics and storms.

It is this kind of devotion to service that has given telephone operators,
not only a conspicuous place in the hall of tame, but a prominent place, too,
in the hearts of the community they serve.

For your telephone operator, highly trained, as she must be, proficient to
a wonderful degree in her work and unfaltering in her traditional devotion to
her service, is, after all, just an ordinary girl.

S

She is the kind of bright, active, intelligent girl that you, if you knew her,
would go out of your way to show every courtesy.

In most cases she i3 a home girl and in every case, we know, she is
the
best protected girl in any kind of woe:: in the city.

We want to tell you many things about your telephone operator—of the
motherly care that is taken of her during working hours, of the care that is

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taken of her health in her work. We want everyone to know why a tele-
phone girl finds her work so inspirational, personal and serviceful—of her
opportunities and her happiliess in her work that go so far to make your
telephone service better.

Now, we are introducing your telephone girl to you, because we know that
in this closer acquaintanceship you will find much that is helpful
in your
relations with the most personal service you command—your telephone,

MICHIGAN STATE TELEPHONE COMPANY

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