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Serving the WORK
SHOP of America

In the territory just south of Chicago
and bordering the southern shore of
Lake Michigan industrial activities have
reached a high state of development.
Called the "crossroads of the continent"
this territory is a beehive of industry.
Subsidiaries of Midland Utilities Com-
panysupply electric light and power, gas
and transportation to 194 communities
inthisand adjoining territory. More than
28,000 stockholders share in the earn-
ings-and the 74.85 per cent increase in
electric sales and 20.27 per cent increase
in gas sales in 1925 indicate the region's
fast growing demand for utility services.

We represent public utility companies
operating in twenty states. Write
for further information.

UTILITY SECURITIES COMPANY

St. Louis

72 W. Adams St., Chicago

Milwaukee Indianapolis Louisville

TMENTS

that ENDURE

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CAUSES AND THEIR CHAMPIONS

By M. A. DeWolfe Howe

NE'S first reaction

to Mr. Howe's book of historical and biographical studies is one of satisfaction and enjoyment because of its succession of graphic portrayals of character against scenes of equal interest; and the next is of wonder at the immense amount of work that went into the collection and study of the materials.

Mr. Howe's purpose is to make the book as a whole a portrayal of the reforming temper that filled the nineteenth century in America, and with this as a background to sketch under its illumination some of the people who were so identified with the reform movements as to become their champions. The result is a singularly fascinating mixture of history and biography.

The causes and their champions of which he writes are the Red Cross and Clara Barton; Temperance and Frances Willard; the New Uses of Great Wealth and the Rockefellers; Tolerance in Religion and Phillips Brooks, the American Labor movement and Samuel Gompers; Woman Suffrage and Susan B. Anthony; Negro Advancement and Booker T. Washington; World Peace and Woodrow Wilson. - The New York Times.

$4.00 at all booksellers or THE ATLANTIC MONTHLY BOOKSHOP 8 Arlington St. Boston

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FOR your January funds THE BALTI- Mortgage Company, which is the larg

MORE TRUST COMPANY offers real estate bond investments that combine a 6% yield with guaranteed first mortgage security. The underlying mortgages range from only 35% to 60% of the independently appraised value of the mortgaged properties.

THE MORTGAGE GUARANTEES

Payment of principal and interest of
each bond is the direct obligation of the
Baltimore Mortgage Corporation. In
addition, payment of principal and in-
terest of the mortgages securing the
bonds is guaranteed by a mortgage
company in the locality in which the
property is situated, and by the National
Surety Company or the United States
Fidelity & Guaranty Company. The
National Surety Company and the
United States Fidelity & Guaranty
Company are the largest surety com-
panies in America.

THE TITLE GUARANTEE

Titles to the mortgaged properties are
guaranteed by the New York Title &

6%

est title insurance company in America,
or by some other title company accept-
able to the surety company and THE
BALTIMORE TRUST COMPANY.

BOUGHT BY 300 BANKS

The bonds are sold with the recom-
mendation of THE BALTIMORE TRUST
COMPANY, a bank with resources of
Sixty-Five Million Dollars, whose real
estate bond offerings have been pur-
chased for the investment of deposit
and trust funds by more than 300 Na-
tional Banks, State Banks and Savings
Banks throughout the United States.

THE NATIONAL MARKET
THE BALTIMORE TRUST COMPANY dis-
tributes real estate bonds through its 15
offices in Baltimore, Md., and through
a number of banks and investment
dealers in various parts of the country.
These distributing facilities have en-
abled THE BALTIMORE TRUST COMPANY
always to obtain prompt and satisfac-
tory bids on real estate bonds which it
has distributed.

FOR YOUR JANUARY FUNDS

Bonds in coupon form are sold in $500 and $1,000 denominations, at
par and accrued interest, to yield 6%. For further information, and
for list of banks and investment dealers from whom these bonds
may be bought, write to THE BALTIMORE TRUST COMPANY, 25 East
Baltimore Street, Baltimore, Md. Ask for booklet No. 10

THE BALTIMORE TRUST COMPANY

The Largest Trust Company in the South Atlantic States
offering complete banking, trust and investment services.

CAPITAL AND SURPLUS $7,000,000

MEMBER

FEDERAL RESERVE TOTAL RESOURCES $65,000,000

SYSTEM

75,000 DEPOSITORS

64

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National Scope

Chicago
Philadelphia
Cleveland
Detroit
Baltimore

Washington
Indianapolis

Los Angeles
San Francisco
Houston
Dallas

St. Louis
Louisville
Birmingham
Cincinnati

Legal Investments for Banks, Trust Companies, Trust Estates and Institutions. Satisfy every requirement as to diversification, denomination, maturity, availability, and security.

1. Fidelity First Mortgage Real Estate Bonds rep

• resent the mature judgment of a large number of originating Mortgage Banking Houses, a Surety Company of national repute, and a Guaranteeing Corporation.

2.

The security back of these Bonds is exclusively • Fee First Mortgages on improved, income producing general utility property, mostly residences in actively growing metropolitan communities.

3. authenti

Winston-Salem
Pittsburgh
Huntington

Fidelity

Fidelity Building, Cleveland

cated by independent Trust Companies, guaranteed as to underlying collateral or as individual bonds by

The National Surety Company, of New York,
The Maryland Casualty Company, or

The United States Fidelity and Guaranty Co.

These securities may be purchased as Collateral Trust Bonds or as Participation Certificates on specific properties. Denominations $100, $500, $1,000; maturities 2 to 12 years.

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A Good Security for Investment or Resale Inquiries from Bankers and Investment Houses Solicited. Send for Descriptive Booklet No. 24

The Fidelity Mortgage Guaranty Co.

CLEVELAND, OHIO

Capital and Surplus over Two Million Dollars

BALTIMORE, MD.

The Colonial Mortgage Investment Co., Fiscal Agents

Citizens National Bank Bldg., Baltimore, Md.

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