Evening Star Newspaper, January 9, 1921, Page 27

FURTHER FINANCIAL S IS MADE Exfeetc& Busihess Casualties Have Not : Materialized—Wall Street Encouragcd. Liberty Bonds Move Sharply for Gains. F BY L A. FLEMING. Let out another £ld of the.flag of encouragement, of faith and hope in the future of this country in its business welfare and happiness, in So far as a steady recovery from the depression at the close of 1920 may make for these desirable ends. The pace is slow, comewhat un- steady, but more or less certain; re- covery may meet with unexpected bad going and be forced to make & fresh start again on the highway, but the developments of the first week in 1921 have been highly en- couraging and therein is a mead of satistaction. Many of our financiers were of the opinion that the first week in 1921 would be atténded by many com- mercial disasters, by the toiling of the bell for many large industrial concerns, and, fortunately, they have been agreeably disappointed and they are willing to admit it. There is encouragement in this and it is_becoming more marked slowly day by day. There are in all prob- ability some sore spots that may need to be cauterized, but it is a fact that many of these are healing and will leave nothing more serious than a slight scar to show for the threat they contained. If we had only our own troubles to master, hesitation would soon disappear and recovery would be at a more en- couraging pace, but the sickness of con- tinental Burope carries with it an un- comfortable feeling regarding the fu- ture of our export trade. Foreign Conditions. Great Britain is making strenuous efforts to put her finances back on the ’ lun foundation, literally pulling herself 'her boot s ing ex- uhugs has scored gains of material import during the past week. Despite domestic trouble, business interests are mot losing sleep about Great Britain's future. Belgium, only partially destroyed and much helped, has come back in good shape, while' France. saving to a_high degree and home-loving is doing the Phoenix act, but the rest of Furope is still struggling in the wilderness of socialism, and the other isms incident {o hard times, poverty and: war's djs- “Great Britain's Revenues. The revenues of Great Britain for the fiscal year starting April 1, 1920, have more than met the expenses and permitted the making of substantial pay- ments on obligations. ; This is much bet- ter than the record of the United States, ‘which, but for the banks and the Ameri- can.people:in making loans and renew- ing them frequently, would have been forced to seek some new impost to fur- nish the needed cash to keep the gova ernmental machine going. France has paid $150,000,000 to bond- holders in the United States. There is encouragement in the fact that in eight weeks there will be a change of administration, in that this nation will soon thereafter be at peace; that the measures now being formulated for the relief of national conditions that are not satisfactory ‘will be under way, with probable good results. Every day this last week, except vesterday, liberty bonds moved on up to higher prices. It is probable that they have seen their low record and that the low record will never return again. The great corporations have parted with tens of millions of their bonds acquired at the time of the flo- tation at par, and held as a good in- vestment in flush times, to be thrown over in the exigencies of the closing months of 1930, to raise needed capi- tal, and for the further purpose of making records, in order to take thelr losses in making their income tax re- turns for 1820. . The chances for a refund of nearby maturities are practically certain, as there is no probability of any material increase in government revenues in the near future. If refunded, the holders of the bonds will have the choice of cash or the new bonds. The high cost of living has dropped more than one-third and the decline has not been stopped. Gov. Harding Satisfied. Gov. Harding, at the head of the Federal Reserve Board, the first to give the signal for the deflation of credits to the entire country, says that the worst is over, that improvement is here and that there is small need to worry in the future. There are few familiar with busi- ness methods that will question the very positive improvement as indi- cated by the pulse of Wall street. Election of a republican President did not stay the enforced liquidation of stocks, and the decline continued up to near the tap of the closing bell of 1920. Wall Street Recovers. The past week has witnessed a most pronounced change in market condi- tions and views on Wall street. The big bears have covered their trades, and, recognizing the better conditions, have ceased to press for the advan- tage on that side, being just as will- ing to go up with the list as down with it. This change has been brought about by investment buying, by the rein- vestment of the big interests, dividend and interest on depoail payments in- cident to January 1. Glance at the two tables on_this page, one showing the record of the week on the New York Stock Kx- change, and the other the record of liberty bonds for the week, and in these you will find encouragement. The big payments of interest on de- posits on bank deposits and the heavy Gisbursements on' dividend and inter- est account locally should be reflected in some way. but as yet'it has not been shown in the Jocal market, nor in relief to the mortgage money market. z Local Securities. Local securities are just as dull as they can be. The week's record is in- consequential, and_but demonstrates over and over again the fact that the enormous sales of bonds and stocks in December were for loss-taking pur- poses. During the coming week some of the problems that have interested local bankers will be solved. The bank elections are not likely to develop many surprises. If the reserve board erases its established dividing line in the enforcement of the Clayton act, so that there can be no dual director- ships in banks east of 13th street northwest, there will be many vacan- cies to fill’ RANGE OF MARKET AVERAGES. 7 The following chart shows graphically the sentative stocks deait in on.the New York Stock Exchange. &ction of forty repre- ‘The period covered is the past month, up to and including the close of the markct Friday, January 7. activity of the market. DECEHBER 8 91011 114 15 16 17 18 20 The lower section of the chart indicates the relative ~JAN— 34 567 (Copyright, 1921, by W. F. Meyer.) High 1919, 19.62, November 3. . 9113] May 26. Low 19 79.15, February 8. - 73.63, December 12. High 1920 Industrials 109.88, January 3. Rails ... 85.37, November. 3. Low 1920 Industrials 66.75, December 21. Rails ... 67.83, February 11. Twenty Industrial Common Stocks Used Are: Am Can Am Sugar Central Leather Rep Iron & Steel * U S Steel Am Car & Fdry Am Tel & Tel Corn Produets Studebaker Utah Copper Am Locomotive Ausconda Electrie Texas Company Westinghouse Am Smelting Buldwin Loco Goodrich ! S Rubber Western Union Twenty Railroad Commen Stocks Used Are: Atchison © M & St Paul K O Southern Northern Pacific Readi Baitimore & Ohio Del & Hudson Lehigh Vailley New Haven Houthetn Pacifie Camadian Pacite K Youis & Nash Norfolk & Western Southern Rwy s & Obio Hlizois Central N ¥ Centrul Pepnsylvania Union Pacific Daily Movement of Averages: Ingsteials. Raile. 2 e December 2, Wednesday . December 23, Thursdsy December 24, 27, Industrials. Rails. .. 69.68 72.68 Friday ey January 3, Monuny annary LIBERTY BONDS AT A GLANCE Maturity Tign: Low. Liberty 3%s .copmees 10040 89.30 Liberty 1st 4s. S0 ° 9348 8300 Liberty 2d 4s. . 9290 81.40 Liberty Ist 4%S..e. 9400 84.00 Liberty 2d 4%s... 9284 81.10 Liberty 3d 4%s. © 9500 8560 Liberty 4th 4%s,. $ 3800 82.00 Victory 3348 «.c.msn 40 94.60 Victory 4¥%s .. 10008 9880 - 9940 9470 5.2023. 9704 *Last sale Friday; no quotation yesterday. NEW YORK BANK STATEMENT. | Timn deposits, 3267 NEW YORK, January 8.—The actual | $7,307,000. IR condition of clearing house banke and ;4‘93%“‘“”“‘ $34,707,000; decrease, trust companles for the week shows that they hold $9,131,530 reserve in excess of legal requirements. This 18 & decrease of $1,912,330 from h!! "!k The statement follows: Loans, dnnznmu ootos $5,220,197.000; Gearease, 304 i own v.um-,..rnemben fed- eral reserve bank, $97,748,000; de- crease, $3,970,000. Reserve in federal reserve bank of member banks, §529,098,000; increase, $4.107,000. Reserve fn own vaults, state banks and trust companles, §9,387,000; 1n- crease, $162,000. in_depositories, and trust companies, $9,! uzodo. ins crease, $417,000. : Net demand deposits, $4, ossl 749 ;- 48 orease, $49.229,000; Unl posits’ deducted, $54,97 Aggregate reserve, $548,027,000. Hxcess r ecre: e eserve, $9,131,530; 400 ase, “ Summary of state banks and trust companies” in Greater New York, not tncluded in clearing house statement: ans, discounts, - etc., tsnxzuon. 7su:§‘oo ‘Aedrease, $104.400. rrenry and hlnk notes, $19,990,- 200; increase, $972,600, Doposits with federal reserve bank, \eow York, $03.469,500; increase, $866,- 50 “Tnlxl deposits, $648,302,800; ncrease, 213, Tetal depoll(l eliminating amounts due from reserve depositories and other ‘banks | banks and trust companies in New York ¢ty and United States deposits, $594,- 778,800 ; increase, $3,516,900. Banks—Cash in vault, $28,085,200. Trust companies—cash in vault, $52,- Week’s "IN MATERIAL RECOVERIES| " (precid o ~—1020— Rate. Woek eading Jamuily 3, 1981 Net. High. Low. Div. High low. Closs. Chre |High. 46 22 — Adams Express. 231 2615 284 + 34| 5244 46% 14 — AdvRumely. 193 16 193 + 431521 72 40 6 AdvRumelypfd.... 4% 45 46 + 14 9 8¢ 24 6 Ajax Rubber....... 304 3% 7%+ 4| 3 2% % — AlasGoldMines.... 1 % 14+ Y| 85 3 3{ — AlaskaJunesu..... 1% 1 1%+ 5g 93¢ 623§ 43 — AliledChem& Dye.. 49 4435 48 4 25 20% 75 2636 4 344 + 4% 8% 9% 51 8 6215 + 674 5614 485 39 4 0% + 434207 103% 32%% 8 ;:'AI fi : 128% g 5 2“ E 47 4 431833 613 2% — 28+ 25|12 o1 T 7 833 + 434) 1? ung w12 125% + 4 (15135 5435 153§ — 226 + 84 ;g% S i 1$ I 22‘(1:«1% 3Mg 5 — 5 12 35 7 AmHide&Leaptd. 50} 434 &%+ 6%2:‘62 119% 304 — Am Inter Corp. s B:;f gfiill’: o nce Frn 10% 8% ;;” 4; ; e ... 563 49 545 + Sbs .;.z;% 09 ¢ 6 B:fit ?” 2 & e % + 954 18 = 87 gy Ge g 8034 + 534 1005 643§ 7 A 4;3 ~ e ‘a3 41 |y i 103 4+ 34 51 118 100% 7 = +.yq s e B ] +3i“{m s 65 + 3%|116 283 1045 12 l:s ey 210 1003 12 lw% I Ll 9% 8% 6 A 165% 55%4 7 Am Woolen.... 52 D= 613 8% — AmWritPaperprd. 38 32 33 +z ot 213 6% — AmZinc... . 9% 8% :‘I 3}; & 66)4 30 — Anaconda. 38y 3% ot 67% 18 4 AssoDry Goods.... B 2% g 125 84 6 AssociatedOil... o o 9 + 0% 76 6 AtchTop&San Fe. 844 82K 8%+ 1 $2 72 5 AwchTop&SFeptd 0% 7% 4 +3 12% 4% — AtlantaBir&At... 7% 64 6% — 104 82 7 AtlCoastLine. 8615 845 854 — oz 0% 6% — AtisnticFruitCo.... 9 8 g%-f‘% A 1764 713 10 Atl Guif& WI..... 76 654 O1% — 4% o 4334 35 — AuGut&Windpf. 444 38§ 41+ 3K L 148% 78 7 BalawinLocoCo... 9i% & 899§+2h =] 49% 1% — Baltimore &Oblo.. 38% 35 %5+ M i 54 40% 4 Baltimore&Opfd.. 534 52 534+ M % 334 1% — BethMotors....... 0% 24 86+ 2 4] 95 47 5 BethlehemSteel.... 553 5 55 + 134 . 1/2 102% 48% 5 BethBteelClassB.. 5815 5444 5% + 1% = 114 9% 8 BethSteel3%ptd... 10256 993 10236 + 2% 5 15 23 — Booth Fishuries Co. 5% 4% M+ XU A }; by 9% — BrooklynR Te..... 12 104 1%+ mum 814 3% — Brunswick....... 4% 6 - %m% 120 76 10 BurnsBros.... 8 81 82 e 11 3% — ButteCop & Zinc 6 B K+ 14 2% 8 ~— Butte&SupCop.... 18 1034 1256 + 2)% 2% 10 — 1636 + 3% 284 9% — 15% + 1% 815 553 6 61 + 34 SeEaE il 5% 68 7 T ke @ 4 4 = 134 108% 10 Canadian Paeific.... 118 115% 17 + :‘lm}i ug 1 - 6 7 + % o 100 8% 7 7 B4+ 5l 2 104 30 — 3656 :: ng ot 108% 80X 7 80 Fvd 6135 24 4 27 3+ zfi 7 184 5% 10 64 6K+ 11354 0% & 4 50X 615+ 1% i 145 6% — 8 9 + Yo, 335 154 — 19 19%+ % 0% 43 21 — ChloM&StP...... 30X 2% I+ %) 0 65 30 — ChbicM&StPptd.. 45% 4% 484+ ¥/ 0 9114 60 6 Chic&Nortbwest.. 6935 @5 685+ 24 1% 60 8 Chic Pneum Tool. 60 65 + 4% P 41% 2% — ChicRI1&Pac. W Wi~ K 71% 64 6 ChicRI&Pe%pra 625 64 624+ 34| o 8% 6 7 ChicRI&PTRDIA. T4 72 T+ ¥ o AKX T~ .96 1% +.1% 19435 My 165 14 2 19§ A%+ 2 ot 106 40% 8 ® 5 59 <10 % "22 3 Col Fuel & Iron. E ;i: - my 7 A+ | A L] wWis 665 B84+ % o 6% 93 1% BE 1B+ 24| 0000 8y T 8 0 50 +5 | % 34 3B 3K 42 |y 0 5% *6 855 4+ 14l 8 N4 81 T4 80K+ 1% 2055 46% 16 3 Con Textile.. 21% 19% 208+ l%.w 913 51% 7 ContinentalCa: 66 59% 60 —5 215 145 3% — ContinentalCsndy. 5§ 4 445+ Zlgq 2% 4 2 ConIntCarnMin.. 7% 5 73+ 34| g 105% 61 . 4 CornProducts..... 00X 65 004 + 24 g5 0 33§ 2434 250 Cosden & Co. . 32 28% 326+ 2% 11835 28 0 8 CrucibleSteel...... 90 78 873 +12%) pp0 603§ 2134 7 Cuba-Americ'nBug N B/E B —1 | 59 165 — CubsCameStgar... 2 213§ 2+ 3 oqo 85% 54 7 CubaCaneSugpfd. (653 615 621§ — 13| 15734 108 8% 9 Del&Hud..... 9935 10036 + 13 1355 0% 105" 10 et Lack & W.oros®25 20 200 12l et 13 9% 1 DomeMines..ceee 12 10 14+ L)y 1gg 2B 13 — 18% 174 183 + mw‘ W % 6 52 56+ 3414 102 8 7 Endicott-Johnptd. 875 8 8736 + 25| yp, 2135 9% — Erle..... 146 — 3| gp - 30} 16% — Erlelst pfd... 19 21 + xlm‘ 2% 12 ~— Erle2dpfd.. 4% 1% - % 5% 95 . 4 8 FamousPlayers.... 2 48 5} + 4} 550 91% 69 8 FamousPlayerspf.. 80 6% 80 +5 |g 435 2135 3 FedM&Smeltptd. 28 28 - 28% + 63%) 230, 135 78 10 FisherBody....... 9% 79 79% % 48 10 3 Fisk Rubber Tire 5+3 | g5 36} 124 — Freeport Texas.. 18 +4 4 19} 1% — Gaston Williams. 85 B 4%+ 1] gayg 43 3234 — General Asphalt 56 . 40% 55 +14% 8% 7\ - .3 GeverslAsphaltpf... 96 80 95 4159 75% 651 6 GepCligaT.....occc. 58% 54 5816+ 5343 oy 8% 1 8] 81+ 31ogyg 1w g4 8 1204 + %/ go1g 2 . 1% 1 15% + 13| 53 g o 6 68 + g a6 68% - © 663 + 4% 30475 @ 0 . 7 GenMotors7mdeb. 4 €% 78 + 4 |5 8% 21 0 GoodrichBF...... 4B§ 353 42 + 6%| 328 02 0 7 8 +16)5] ggyg 54 1 - 128 4 5% 2514 0% 9 - 12 +3 |ssy 3 6% 7 766 — %) 7836 a0y A% 4 26 — Xues 386 15 2 2% + 3% |00 : 2015 1134 2 GuantanamoSugar.. 163 125 163 + 3% |iiass- 844 25 — QuitStateStesl.... M+ 6478 153 1444 — Harbishaw El Ca. 12% — 15609 7 Haskell & Barker.. 5 + 13415y 4% 12% = Hendee MfgCo 205 + 5%/ 803 116} 45 = Houston Ofl 0 +5 |13% 8% M 1 Hupp Moter Co. 1B+ 13| 97 97% 80} 7 NlinolsCentral 8336 + 2% 805§ 9% 54 60 Indiahoms Ref %+ %21 61% 28 4 Inspiration Cop 363%% 363 + 43) 13 6% 3 ~— Interb-ConsCorp.. 4% | 4 4%+ X%| 344 17% 8% — Interb-C's Corp ptd 12% 11 n%+ %|7 2 9% = Inter Agriculture.. 13 124 13 + 24| 158 88 40 5 Ister Agriculptd... 57 523 5634+ 5% 2714 2% 88 7 InterHarvester.... 97 04§ 05 + 5[40 81% 10)§ = Inter Mer Mari 13% 124 13%+2 |78 % 44 6 InterMorMamtd... B0 503 523+ 13|9236 170 - 2815 = IntMotorTrucke... 38 .33 36 <+ 1119 71 57 7 IntMotorTr3apf.. 60 5734 60 <+ 5 |55 203 113§ = Inter Nickel....... 16 131§ 15% + 13|16 013 238§ ~ Internat’lPaper.... 55} 431 G554 8% 28 41% 19 ~ Invincidle Otl. 8K 0% B+ 14| 606 o5 mg = s B L5 |2 DO . €+ % e aK 3 - 5 5 3 |82 . “i T - 1% folm o 13 2 153 + 154414 Loty 19 +i 4] 6K THE SUNDAY STAR, J. , Price Range New York Stock Exchanges:: , the (lose of Business Jannary 8, Saturday, at the Office of The Evening Star. 'nkfl-m‘.l‘-ld. love. Cuge. ~—102— Bate. . Leow. Div. Low. 373% 4 Kan Cits South pfd. 475[ 454 2% 4 Kelly Springfield... 43¢ 40 3514 — Kelsey WheelCo... 43 90 1454 2 KennecottCopper.. 21 8% 576 120 Keystone Tire..... 13§ 9 1.1 6 Lackawanna Steel. 55% 52 — Lake Erie & Wstra. 154 13%§ ls% 2 Lee Rubber& Tire. 20} 18 3954 33 Lehigh Valley..... 56§ 54 123 12 Lig & Myer TobCo. 140 139 185 2 Loew’s (Inc)....... 18 15 9% — Loft Candy. 1036 120 12 Lorillard. P. 13734 94 7 Louisé& Nashville.. 102 1003 -8 — Mallinson Co. 10 8% 10 Manat! Sugar.. 7 3% 7 Manhattan Elev... 453 2§ — Maxwell Motor Co.. 6 2% 85 8 May DeptStores... 69 65)¢ 148 12 Mexican Petroleum 163 15035 144 2 MiamiConsCopper. 197§ 15% 10% 160 Middie StatesOll... 15% 1235 2035 4 Midvale Steel...... 334 31 84 — Minn&StLpew... 13 12 2 — MisKans& Texas.. 24 24 3% — MisKan&Texptd. 5% 4% 15— MissouriPacific.... 204 19 333 — Missouri Pacificpta 413§ - 39% 12% — Montgomery Ward 19% 17 47% 3 Montana Power.... 53 53 19%- 4 Mullins Body. _S}i 3 Nat Acme. 7 Nat Biscult 103;4 7 Nat Biscuit pf. 253 — NatCloak & Sul 2 — NatCon&Cable... ' #{ 3K 45 6 NatEnam &Stamp. 51§ 49% 633 6 NatLead.,........ 73 ' 6% 3% — NatRRofM 2apta 4% 4% 8 1 NevConsolCop.... 1134 9% 31 6 NewOrTex&Mex. 603§ 60 6 10 N Y Air Brake. 5 N Y Central. 16 1 NYOnt& West. 8 7 Norfolk & West. L] 5 North American. 663% 7 North Pacific.. 26 5 Nova Scotia Steel. 2% 40 Okla Prod & Ref... 3% — oOntario Silver. 23 2 Orpheum Circuif 12— oOtisSteel... 11— Pacific Devel 414 5 PacGas & Elec 35 — Pacific Oil. 69% 6 Pan-Amer Petro... 644 6 Pan-Amer Petro B. 12 4 Parish & Bingham, i 0% 35% 344 2654 31% 7% 15 26 19% 5 4% 68 9 1% 1% 72 k) 4% 514 505 58 2034 — Pittsk West Va.... 31K 28% 12 1 PondCreekCoal.... 14 12% 7234 8 PressedSteelCar.., 85 81X 95% 8 Pull Palace Car.... 1073 105)% 40 8 PuntaAlegreSu..., 9% 45% gg 4 Pure 0il Co....,. 36% 34% 10 643 32% BU 2414 30 8% 6 RepublicI&S....., 66% 60% ;gx 520 ‘Royal Dutch....... 69 634 1 15% — 8% — i~ 20 — 2% 1 o e 2% — 5% — Snbonrauruu.. % 64 84 — Seaboard ALpf..... 12 1% 5y 8 106 — 3% ™ 8 20 - 4 6 8% 6 20 - -— Southern Paorights. 26 22)§ 18— SouthernRR...... 2% 22% 50 6 Bouthern RRpd.. 58% 57% 44 5 -1003§ 7 224 4 2% ; Stromberg Carb.... 42% 314 e % 2 41 6 22 1 Texas Coal & OMl. 2% 265 40 3 TexasCo (new).... 441§ 424 14 ~— Texas & Pacific 1874 18% 94 —' Third AveRR. 4 13 674 2 £0 Times 8q Auto Sup.. 12 9% 46 © Tobmoco Products.. 56 5135 5% — TranConOil. 12 % 3424, b Transue wm&wu 42% 39 152 “10 Uriderwood TCo... 146 145 61% 8 Union Bag& Paper.. 72 08 19 ‘'« Utifon O1l.... . 204 204 110 10 Union Pacific. . 124 U7 61} 4 Union Pacific p! . 0665 6435 27% 4 -United Alloy Stesl.. 34 31 91)¢ "8 United Drug. . 9% 416 176 12 United Fruit. .. 207 194 . 7% — UniRyTnvestment. 11 10} B — UniRyInvestpfd.. 22 203 45% 3. UniRetall Stores... 5i3§ 31} 10§ — USC IronP&Fo.. 1135 1134 38 5 USCIP&Fopfd.. 40% 39K 15 6 USFood Prod..... 2% 20% 58%% 8 USIndust’]l Alcohol 703 643 35§ = USRealty & Imp... 46 1% 53 8 UBRubber, o 6% 24 2034 6 USSmelt& -3 B 7638 .5 U8 Stenl.... . 833 80)§ 1045 7. UBSteel pra. » 1095 107 444~ 6 Utah Copper. - 553 48% 27 = UtahB8ecCorp...... 104§ 9 - 2834 4 Vanadium Steel. 37% 32 24% 4 Va-CarChem.. 39 3% .';% 2 Vivadou (Inc). 8 1% n 2 *©05 = 493 854 — 105 10 -~ w.-nuupu..... 1 1K 20% — -Western Pacific...s 29 2 5414 6 Western Pacific pt. 70% 68 80¥6- 7 West Union Tel.. 83% 84 804 7 WestinghoussAB.. 96 93 40 4 Westinghouse Mfg. 45} 42% 8% = ] 15 - 7 31 4 "13% - ; %5 » . ~4% 1 WillysOverland.... -9 5. 36 -1 Willys Over ped, 30 .35% - Y 9, 1921—PART 1 New York Bomd List. effered 100 Cnited States 25, coupen = “ 8% Atrhison gen. Aliantic. Coani Line 18 48 Baltimers and Gho cv. 4%s Bethlehem Se.. Coateel of Georria: conmmitinted . free T Gentral Toather sn 4% + 635 43 +3 2036 + 334 1934 4 3K} Doaver and Rio Grande connol. 4 543% + 34| Deminion of 1981) 140 46 |Foe wea o Erie 2 175 + 2% n-—t Nortbern m 4% 1214 + 19§ | Htinois Cenmteal ret. da. Iaterborough Rapid Tramsit 141 + l.u.mc‘ tn:uinll amma thern re sl 32 o :' u-‘r'uu 4 B 14% + hnd"me 234 Nashelle . 73% + %1} 4 ] o s :% Northern Pacific s 1544 — Oregon Short Line ref. 4 18% + 3% Facific Tel, and Tel o . Vivania cons ;’gz: 2? ;‘I:::?E;u:.‘m: o 3 ending gen. 173 — 3 | Bregblle Irn ana lurlls.- (1960) 2%+ 5% — 9%+ % a4+ 18. — 199 — 36| Daien Pacite ds . . S ERAET ot 30 = : . of G. Bpand 1. 5Y%s (1937). 1 penses, interest 21 s | el e EiFE ams Il PURE OIL ta - =, | 21 + ?fi vi h‘llr"(‘hflak‘l 5 20. dDue to tr .,— e || Wekaw dat Can 1mx+ 334 | Wilson & Co. ev. '8 Sovings Sanis $16.420.00 moan === Federal Oil 08 +1 21 Certified checks .. Totione|| Alnx R Mariand Oif Mg — 1% 3s9119| || Amer.Car & F. Shattuck Ariz. 5:)(: :fi REPORT OF THE CONDITION B.F.Goodrich Studebaker 92 ‘Cdb-C-neS-g Utah Coy 2 +3 E 1,013,201.92 per 233, | SEVENTH STREET a0 coiiar st icpaic s | Gen. Moters Willys Cwerrd w 1|, SAVINGS BANK. 1., me e g%||| sbmd O U.S. Rubber | 60 ‘Washington, in the District -(oolmhh at | 28, Other demand deposi 5,567.26. 39) e the close of bullnm December 29, 1920. Tetal demand deposits, items g Impartial view of above e scurities ang ;;fi Izfi == L 2 B A m 2w et ree on et h WS, 0. 38, w -3 |* -E:::“THTF“:" : $679,708.13 2a ice): ; St own and ¢ 768, 7' or more net e 5 'o ‘secarities vings depasits . W)fi‘f- ‘;“ elnpl’-dnfll AAAAA $53,850.00 Y = 2;"‘:1‘ .',‘I"m".?'.’:'.';'.. d War savings cer- 29, 30, 31 and 32. msmw 54% - % titicates - and 85. Bills payuble, nflnd!n cer- 84— % thrift stamps... 1.082.20 uc- of g money mfld . 36 +4 Total U. 8. gov- 36, Listiivien other than _ ihose %+ % 982 Davable (deferred : it ———— seem20 S S 4 2%+ 19| " than” 16 + 3% - % 24+ 1 25 + 4% B +6% n%+ 1% ) T+ 24 BY+ % A+ K 136+ 1 85 +4 107+ 14 49+ 2 3% + 1% 8434 13% + 24 8+ 4% 513 — 13§ 4 —3 3 +5 +2% NA’I'IONAL SAVINGS AND TRUST CO;, - At Wmfl. 1n the: District of (m at of busingss December 29, SRAUNSERRE R E-NRRNFRRE TRy A AR AR b PR iy SREVenePER S FRRR xR eRa e "wxxE” 1 1 31X 405§ 505 9% n 45 + i + 3% + S on sdme.$1,219,650.05 :% i Total bonds 1%+ 544 + 12 + res 145 424 |41, Checks and otier cash ftems.. e e e Dt TR 6674 + 3% 3“?"1 ;”2 5. Capital ltfl‘:-\‘ g e 11 21% — 4% 0 + 94 P aitares pu. 13 18 Aleln'::dl .rel"ved for taxes ’ 403 + 234 |20. @Due to trust 2684 + 4% e hanks. 3595001 o 2 1: 21 Certified checks 713, 7% + 4 304+ 134 8274 + 14 1%+ % 54 +3%| Gnazs........ W5+ X% 8 4 M| mooarof e scousiie Tems LAt 854+ 3% 20, 30, 1 and 32,9281,001.81 1+ 35| sor W 3 Eiedee g T — 3| aay of 455 + 1% A 105 — 3% PRESCOTT lm + 3% %"{"I‘I‘%‘ Hmh!flfll’k& 0 +4 . W. V. COX, "“'m o 42 . ‘+6 9 43 'Moneytol.oan FINANCIAL BEPORT OF JME COMDILAv MERCHANTS BANK e LI RS RESOUKCES. 1. aLoans and dis- Gilt-edge First Mortguge Notes, secured on D. C. Real’ S i] Estate, for sale. Thirtyyears: - b experience without a loss! #8 ° ¢ a client, "We attend to alf Total lomns Is. Percy H. Russell €o., S.W. Cor. 15th & K Sts. Ni 4 War saviogs cor. icates and hrTL stampe. Total T. . ties o minests it etc.. other than U.E.. inc) 5.652.03 premium on same $54.501.00 Total bonds, securities, etc., other than U, 6. Rapking _bouse Abeed™ shows you b aw to o oume l—n-nn-n:-..y 30 KRIEBEL 8 CO. 16 Uther asset. (a) Dills for coliection. (b) Foreign money Total o w:‘umunn ‘apital s paid in Surplus . Cashier. sworn to befm lll this 7th day ot Jeveary, 12l (Beal. HARRY J. DONOGHUE, Notaty Publle. Michael J. Keane, Ernest E. Herrell, Direetors. TIZENS ;:WNGS BAKNK MAN WHO CANNOT, > § ¥ - AFFQRD TO KOSE ,} Our First Mortgage Noti denominations of $7:0 and ward, secured on improved r " estate in morthwert section city,.pay 7% semi-annually. Ask for Besklet “K” Wi Explaine in Desall - . Willmms.w A'N-’ kY 1409 New York Phone Main 98 . = REAL ESTATE LOANS Two Ways of Making Maney. One way to make money i5 by the labor of your hands or brain. Another way is to.save a part of the proceeds of that labor and make your savings make money for you. For safety, stability and good yield our First Mortgages rank fifst with that great class of investors who believe that com- servation of principel and adequate return Over a Quarter are the first essentials of sound invest- of a Century EREnER . Without a Loss. In) Ameunta $250 ana u‘y} B. F. SAUL CO. Mortgage Loans for all Chain Stores A a marked tendency toward better busi- riess conditions in. 1921, UNITED 1Y STORES, ‘Inc., promises to far -upunlu re: | markable record of the past year, in point di" number of new stores opened and volume ohv patronage developed. : . As ‘this. company -enjdys munul confidence, t .*, while its stockholders are afforded splendid pro-; ! % ucmbymmve. efficient mungemeuv. i we Ummn AU'ro s'rom;s lea-n-s%hefermd as an offering which embodi luafly one of the elemmnofmdemndedbyhmodwn- servative investor. Thocompmyman:mnmwnofbmou of the foremost chain systems of its character, wid:emykkdtbood‘ i of 4 large expansion. - and there’s no fode CHARI._ESE_.AGL'ASSE.R_&CO-JI!; :