Evening Star Newspaper, August 15, 1921, Page 21

FINANCIAL™ NEW YORK STOCK EX ’ Recejved by Private Wire SAY IMPOSSIBLE 10 CONTROL EXCHANGE 55 Locel Bankers Would Wel- come Financial .Con(arenge. * Local Securities Active. WY L A. FLEMING, Yocal bhankers hold to the opinion that supply and demand have always regulated the market for foreign ex- change, just as in the alden duys it regulated the market for New York exchange in all the larger cities of the United States, hefave the institu- t of the fedeval reserve system, with its pravisions for the transfer of money hy wire, witheut cost to the member banks. Fiat money Is not to their lking, and the theery ef a stable rate, un- varying. in foreign exchange finds few advocates, much as such a sta- bilization ight be desived from the standpoint of business recovery antd the measure of presperity that it would mean for the nations - whose cireulating mediym would be en- hanced thereby. A financial conference at tha time of the disarmament gathering might hring farth some good results. At that time there will he many of ‘the world's leading diplomats and busi ness men Kathered in Washingten. Such conferences are sure to bring the hrightest minds together. from which seme program for the world's welfare might he evolved t probabjy will not be in the stahiliza- n of the currencies of the world, for laoks ally, this 1o 5 uh the disturé- ance in the old aarlhx affairs and the aftermath of the war unseitling things i est atiempt at betterment may good th scarcely a chance f'u unfertunate resulta. As a fatter af falt, ment in exchange was poss it wouid at once remove all restrictions in the way of pur export trade—chiefly the in- ability of Hurape te pay—but it isn't. Plan Important Improvement. The Sccond National Bank is about ready to let the contract for impor- mprovements in its banking thg space on the north of the foyer will be given over o a safe-deposit department, with coupon booths and consultation room while a matter of 1,000 modern safe depogit boxes will be installed in the two large vaults at the rear of the building. Victor B. Deyber®president of the Lank. expects fo leave befare the end of the week on his annual vacation, and hopes to let the contract. which wiil call for.considerable expenditure. before he goes. MFf. Deyber, who alse is secretary of istrict Bankers' Association, an- vs that the proceedings of the convention of the association, ieid at White Sulphur, are now In the hands of the printers, with prospects of carjy completion. Big Day In Leral Securities. A record of $57.000 bonds, face val- ue. and 115 share in on today's session of the local stock exchange hus not been equaled for many wee matter of §40,000 Geargetown ias 5s sold in eight blocks of $5,000 h helped out materially. but there was enough other business to make a good day’s trading average. Georgetown G 5s brought 70. These were the first sales in these bonds for 1921. way 45 were decidedly firm at 61%." A bloek of $7,000 Patomac Elec- tric Consolidated 5s brought §9%. Bond prices were slightly firmer. "apital Traction showed easier ptoms and declined from an open- ing at 87 to %6% on sales of eighty shares, with $6 the best bid at the close. Lanston attracted some and sales were recorded at An odd lot of American Seeurity and Trust Company steck brought 215. Personal Mention. James A. Cahill, viee president of the Commercial National Bank, was at his desk this morning after two weeks on the north share. 7."H. Baden, cashier of the Com- if sueh a mave- tention, of stock traded! Air Reduction ber, . sase fl Allied Chemica Allts chullun. Am Druggilsts. Am Hide & Loa. Am Hide & Lea pf. 1% Am Ige (3] .6 national, 3% Am Smelting. ... Am Steel Fdy. . Am Bugar, Am Sumatra. 4% Am Tel & ‘I‘Qllia- . {0:\‘ ol .se Am Writing Pr ot- Anaconda. Ao Dry Goods. . . Aume Dry G 1t N Asso QM. "l Atehisan cenr UR Atehinan pf.... ... 9% Atlanta Bir & Al Atlantic Guit. ..., 21 Atlantic Ref pf. . \:}h Baito & Ohio Nl!:'h OI'I:OI! Beth §teel Bkivn Rapid Tra, . I'IK Brawn Shoe Butt per. ...+ I:n:(l:uuflnuporlor.- 0 Buuarlc.k e LY -d?:gll. Pokg... @ California Petrol.. W% Califarnia Pet pf.. 71 Canadiap Pacific. . 118 Leathel Chi Mi] &8t P.. Chi m,l‘t ?t: Ppt.. l’h Chi & Narthwa, . Chi R 1 & Pacifl Chile Capper Chino Copper, Curcul.. creene Celo c-;n & iouv-hnn T Col Gas e © col ar-phnphou - o p: jbutars Cons Diptr] . Gasof N ¥ %% € - Cons Int] Ca} Min. Erh 1at pt Famous Plu-r'v . Ggodrich pf. Granby Consol Great Northera pf- Mfg. 2 tl rine }:u d.r lurmu n Int} Nickel Intl Fapar. intl Paper (sta) invineible Oil, mercial National Bank, is away on his | J vacation. . P, acobson, cashier of the National etrepolitan Bank, is back from twe weeks spent in the moun- tains. M. D. Rosenberg, president of the Bank of Commerce and Savings, left vestenlay with his family on a moter trip to the Thousand Isiands. A. S. Gatley, cashier of the Lincoln National Bank, is back this morning from a successful fishing trip. Frank Owings, assistant r‘ashle! of the Bank of Commerce and Sav- ings, has returned from his vacation. BOND LIS SHOMS RREGULAR ACTION NEW YORK, August 15.—Strength In railway bonds and irregularity with more or less weakness in the industrials made today's bond mar- ket a counterpart of.what was hap- pening on the stock exchange. The advance in the rails was very general, with the exception of Erie canvertible Bs, which were down over 2 point. and the New Haven 6s, which were off nearly a point, Ate 4s.” after holding latter part of hen other things were coming -down, advanced to 77, There were half-point gains in Chi- go. Burlington and Quincy general < at 9. Big Four 6s at 90, Northern sific 3s at 56% apd St. Louls and San Francisco incomes at 571s. Chi- cago Union. Station 63 had a not- able rise of more than a paint and a half to 105%, and Southern Pacific refunding 4s were up a half point. In the traction group there was a half- point rise in Hudgon and Manhattan adjustment 55, while Market Street railway consolidated s broke a point to a new low level of 69% Not Finally Placed. The troyble with these bonds seems 10 be not an earnings trouble, but a question of lack of seasoning. Ap- parently, they have not been thoroughly’ digested by the ultimate investors, ‘and the unsettled financial conditions In general have forced upon the mar some of them that were nat securely held Chile Copper 6s and Cuban Amerjcan d a_half-point rally, and Du- quesne 6s, which had sold off last week from 93 to 9133, got across 92 again. Telephone issues were strops, the North: ous high and the New York Tel phone 6s gninlng a half pojnt to 94. inclair Oil 7%s did better. while r high p These Were Hea: On the ether hand, weakness broke out again W Cuba,Cane Sugar con- vertible 7s and U. S. Rubber issues; espectally the 7! per gent bonds affeeted, as they were net on the weakness in the athng & very unfavor- Marine and Central Leather s were heavy and so were the Packard Motor §s. ¥ of Copenhagen 3las were strong up to Japanese 4s equrled their high of 72, while Denmark 6s 102-were a point up frem lagt week's low, under their ent g Jds were helped by lhg dzelm giving them priority in the first pay- ment on German indemnities of . billion gold marks. - Maxzwell B Deps Stored. - Molican Fote. o0 o7 - <0 mm:‘lnl Capp! Pon Ol + North America n»r:::u:'m::ly . Qkishom, e Pac Gas & Elec, ... b PacificOll, ..+ Pap-Am Po Pan-am Fete (B), Pennsylvani Penn 5el‘t‘u'l Steel Pierce-Arrow Pierce-Arrow pf.,. Punts Alsgi Puze Ol core0vr 3% 18pr. [ st Louis Southwa. St Louis Sown pf. Sears Rosbuek, .+ Sinelal Realty 58 were dealt in at their | T Tunco-u oil... Upton Qil., ., , Union rmu. erer Unjon Pacific Union Tank Lar‘ United Drusg. .. ... “ United Pryit United Ry In United Rotail Bteg. although -(;‘ll a Touu Utah VaironCosl &C.. Vivadou. abash. 3 20 u 0% High. Low. Cigse. 0 0% 2 20 Direct ta The Star Office. Open. High. Low. Close. Wabaah ptA...... ¥% 34 0% thuw-lh 0 Exp. u&‘ T e ' Pacifie.... 28 Western Pag pf.... 6% Westera Unfan 0k Westhse Alr Brk. Westhouse B & AI.. Wheeling &L 9. . 6% 04 e & wmeuu &LEDL. 15 W L] Wnrthln(tun (A). 7 0y ‘Wright Aere. oy ‘lln. Low. Last. L] L] 'W “ Call Money, HQU.LY llbfil Q' .TQGK‘x il LS. i) AIN AND PROVISIONS. TIMORE, Aygust 15 (Hglulil)» —Potatoes, white, "bu., 1.3081.63: 100 H bunch. Sa4; cabbage, hed, 849; car crate, 4.00a ket, let- dimg_ beans, b 1.2581.50 10a1b; squush, Inuket, basket, 40460; bu., 1.00a1. lu llplllcnlv Lbl., 8.60a5.00; ham- 1 cgntaloupes, bauket, ('rulv‘ 7541.30; damaons, Ib., 7. Selling Prices at Noan: red winter, spot No. 3 red wintey, Il red winter, tuce, bu. 1.00a1.50; 90a1.00; onions, pers, basket, 30830; tomatoes, gar- ) 3 ur‘un on R e AZlCky, 126 \u 4, 1.14%; ' Sales—Bag lots of b pn\. 1.07, 1 1! L‘orn—uzh n:w. yellow, Jiflul 45 per barrel; for white, 15 ta hllrel lmur in carload lots: cumnc\ 6715; tragk co dnmelll(. ki 'lu%l\ly and conditian, 1.00; 1.17 per bushel, Yl*lluw- Yatig 3 white, new, 40; old oats bring | pmnmm of from 3 to 3 per bushe over new. Rye—Bag lots of nearby rye. as to quality, #0al.15 per bushel: :exfl!rn exnert, spot, 1.18 per bulhalv quiet; spring &pring clears, ‘6.00ar straights, sou strajghts, 7.00a7.30. Perk, steady; "mews, 25.00a. ily, 30.00a31.00. CHICAGO, August 15.— Wheat showed considerable firmness in price owing in some degree to a estimale that the United exppriable surplus would npt exceed 175.000,000 bushels. Announce- ment that India’s crop would be more 0: fam- > | than 125,000,000 bushels short of last year's total was also a bullish fac On the other hand, advanci ught about iner offerings. Initial gquotatiops, which varied from 1 to % higher, with September 1.24% to 1.25 and Decem- ber 1.26% to 1.263%, were followed by slight further gains and then some- thing of & reaotion. Large reeceipts counted against un- turns in the ft opening. unchanged, including tember Al 56% tn G69ABHY, hardened & trifie and then sl disposition to sag. S — MONEY, AND EXCHAN NEW YORK, Ay t 15.—Prime mercantile paper. 6.06 exchange iFregular; sterling sixty-day bills and commercial sixty-day bills on banks, 3.621\: commercial sixty-day bills, demand, 3.66; cables, 3.663 demand,* 7.50; cables, 7 francs. demand. 7. 62; guilders, demand, ll XU cables, 31,18; lire. demand, 4 cables, 4.38; marks, ofbles, 1.1 € Sweden, demand, 31.0% hw.s a-- mand, 12.89; Argentine, dpmand, 20.87 Brasilian, demand, 12.76; Montreal, 16 per cent. discount. Government and railroad bonds irregular. Time loans, firm; sixty-day, ninety-day and si month, hsu per cent. STEELS AND RALS corn. market A . it ) ., 2.5085.50; ¥ s, bunch, 3ad; celery ‘Corn, doz., $a30; cucumbers, b 50; egwplant, hasket, 25Rd0; (i) @ a0 b ¢ a4 No. ; Ne Relgian cahles, S RELATIVELY STEADY Ed 3 i e LT e BY STUART P. WEST. NEW YORK, August 15—Thers were two items in the over-Sunday news whieh threw a ray of brightness into the depr: d conditien of the mar- kets. me was the word that seme of the steel mills which have heen idle or en part time for three ml"llhfl past were about to resume aperations. The other was the dispstches from Washington suggesting that the pres- e from administration quarters to the reilway funding bill hefore e pro ‘smued recess woyld b muces ful, that tl rqnale ml ht have 10 lnr-xn a vncat on ennrey il _the obstructiGnists ave e have thelr way. The steel news was particularly im- portant, because it fitted in with the impression which had heen gradually forming for a week or more, that Jyly, which saw a record low for steel pro- duetion, also saw the bottom of the downward movement, both in outpyt and in prices. Steel stoeks were helped bz these advices from the manufgctyring cen- ters to the extent that tn-y ielded yery reluctaptly te the selling in ather quarters. The same was trye of the rails, in which hope was re- levea of early action on the. relief il The market as a whole was still dominated by the weakness in a score or so of industrial igsyes in nlluyl which there was the argument of up. relieved trade deprn”la or else un- favorable earnings statements in |:rnlpeu. or again where adverse gc- tion -was expecied nr dnv!denda ‘The weakness in again the most rioss In the! preferred stock, which dropped off until it was selling tweive points under its quota- tiop of last Frigay. Cel. Coli’s death may have had some sentimental influ- ence, byt there was no pietense that the selling was coming his estate. Sych a !mn‘ b-lova the will was eyer admitted to probate weuld have been uflhnnrdll Tis h he whole reasop for the break in the rnbberl was simply that to vu earnings lntam-m for the fisgt months will mai ‘The maii defieit s0 much the ¥ EQUITABLE Co-Openative Building Asseciation #ist YEAR COMPLETED m«... .$4,303,888.65 'VM Savings - As-' wnlullu Most iR SR e Subseriptions for the 81t Lssme of Stock Being Recelved . EQUITABLE BUILDING 915 F 5t '.w. STAR, WASHINGTON, D. .. MONDAY, "TODAY’S BOND PRICES. un prices reparted to The Star over direct ) Southern Rallway gen: 4 utue yew York-Washinton wire by Kedmond & C ¥ Parls 6s 1921 French Government (lll\fl’llwl’n' of fiw"ll’ g Tl ¥ u. lnfl' ir?llml o Yas 1821 5 and Ireland ¥ B and Tretand dite iug nd Ireland § 'u-“ utile it 1y iaiieitie 2 1630 Missonst i St 2 1 New York I Mer Toter“Rontt 1 Louisville gnd ckard Mot Peansylvania 5 Pennsyl Prnnn)"lu:" 1‘ o ldj 41, n gen. mort . Reading genergl ot oot 2 Louis fl Bt. Louis V . Bt Louis ang n cisea i Seaboard Ah!‘ln‘ Pzt lnc @ 8 Houthern Paciic cony :\Grain, Produce DAIRY MARKE' LTIMORE, August 15 (Special).— B Chickens—Aliye. springers, pound, Leghorns. : old hen pleons, pair, Shas: guines Towl, each, Eggs. loss off—Native and, nearby, firsts, dozen southern, 34. Butter—Creamery, fancy, pound, 45a nearby creamery, 4la rolls, 28a30; store airy prints, 28a30; process , August 15.—Butter—Un- i ereamery, extras, t gE: eady: recelpts, 9,992 cas frals 30831 ‘ordinary Arsts, 24 miscellaneoys, 2§329. Poultry, ajive—Springs. Butter— Atoady; ~receint packages eamery, higher than extras. 4{lvg creamery, gxtras (93 acore). 431za cregmery, firsts (8§ to 91 score), 8813a43; packing stock, current make. No. 2. 29. Iggs—Irregular; receipts. 14.378 fresh gathered, extra firsts, fresh gathered, firats, 34a37 state, Pennsylvania and nearby west ern hennery whites. firats lo extras, . hrawns, exiras, ¢6448: d gathered hrawns und mised colors, firsts to extras, 3aa45; refrigeratox, special marks, § ref, BLoF, firsts. 3383615, “heese—|rregular: receipts. 1979 boxes. State, whole milk, flats, fresh, spe ‘fllfl Zlnzl‘ du average run 8201 Siate, 3iusiiz) S da —_— FOREIGN ENXCHANGE. Selling checks—Dollar values it nuen t0883: rent business, but the writing down of inventories. The cutling or pusmg of dividends the drop in was foreshadowed - A Canllnenlnl Can and ln Industri; cohal.* The Central Leathers continyed to decline, American International sank 1o a new low, the sugars were defi- nitely weak again and there was heavy selling in Utah Copper on its statement for the guarter and the in- dication that the next dividend will be omitted. 4 Call Money. A somewhat freer supply of call money appeared following the im- provement in ihe week end bank statement, but the renewal remained at 6 per cent, and rates on time money and commercial paper wege unchanged. The feature in the for- eign exchange was again the fluctua- tlons in German marks, which got down again to their lowest since last autumn. What little strength was imparted to this part of the market a2 month ago by the granting of credits to Germany by commercial in- verests in this country and in Eng- land has been outweighed by the con- tinugd huge outpour of new ' paper cyrrency reported wegk after week by the reichshan 57 Hailway s o e tolv 12 Paciic € By ehid Bulan bh:::{ :l'lltl Hll‘i:*! u e Ho alted m'-." o Vacyum (il i e Wilsn & lr& R SHORT-TERM SBECURITIES. (Reported by Redmond & ('0. v & ..ml-h.w Steel M“‘!f‘mml Mol T Tap © ‘||‘er Cobler Copper E Cuduby B. ;‘ oodri Gal H. Export thurx Roehuck & ¢ ! Hoebuck & Co. Heurs, Roehuck & Co. Houthern Upliway Ou 1 flnlb“l\nflum Bell s 19: Nwift : HOND CLOSING PRICES. WV YORK, August 15 -— Liberty bonds close Three and a halfy 88.66; Ist 4x 87.70; 2nd_ 4s. 87.60; 181 Sy 8780 dnd 4ie $7.68; 3rd i%e 81.90; 4th 4y B7.88; victory 3% 760 victory' 4%, $5.16. and Live Stock LOCAL WHOLESALE MARKET, Eggs—Strictly fresh, per doz., 38ad0; @verage receiptay 38. Live poultry—Rapsters, turkeys, per Ib., 33a33; chickens, spring, per Ib., 32a34; hens, per 1b., 83a26; keats, youns, each, 35a50. Fresh-killed lprlnl 'H per Ib,’ 18 essed ultry- ghivkens porih ers, per ib. Fie keats, yaun Pork—Tir, "Live stoc] 5.0 Lnuromu lem- Der bax, 3.0044.08; Califarnia Yranges, per crate, 6.0087.60; peaches, per €. 6.00a7.00; cantaloupes, per L00a4.50 peg bors cEeplants, pe rztsme. 0033 54 CATTON MARKE' NEW YORK. August 15. ten market opened barely steady at a decline of § to 12 points, owing to lower Livernool cables than expected and reports of continued dull trade in Manchester. Liverpool was a mod- erate seller here.and there was scat- Lerwl ligujdation, but New (yleans on the opening decline and the Fmariet turngd steedy. aftor the call on continued bad crop reports from the southwest, with December fuctuating between '13.47 and W35 compared. with-13.60 at the close of Saturday. Futures opened barely ber, 13.05; l)enembtr. 13.51 3.51: March. 75 NEW ORLB. NE, August cables and a fow rains in Texas caused selling of ‘cotton today, and in the garly trading prices were depressed 13 to 16 points, October falling to 12.59. Telegrams- from Texas .(aftng that raing. where they had fallen, had done damage to open cotton. checked the downward movement. and at the end of the first hour of the session prices were about points up from the low- est Futures opened quiet: October. 1 Demmher 12.98: January. 13.06; March, 13. May, 13.44. Trading remained very quiet later and fluctuations were comparatively narrow. Slight bylges seemed to meet some scattered hedge selling, as well eady; Octo- January. buying e and the genepal tone of "le markel was steady around midday. with December selling at 13.55, or within Ave poinfs of Sat- Llniin‘ middlin good ordinary. 6.48; ordinar: Sales,, 8,000 hales. including 7, ‘00 American. Receipts. 16,000 bales, includipg 200 =American. = Futures quiet apd stepdy. August, 8.66; Oc- 0 n so P,ua'y If Old Friends -—are best, and old books, evidence is not lackin, that an old bank, such as this, classifies the same way. To the thrift , The Metropolitan has besn.a steadfgst friend for well over a century. Start a thrift fund at Washington’s 'OLDEST National Bank THIS PAY DAY and grow up financially with this solid, helpful institution. A single dol. lar makes you 3 depositor. 3% Paid on Savings National Metro politan Bank Capital, Surplus & Undivmd Profits Ou 1,600 15th 8t., Opnosi "; Bl te U. 8, Ti reRsury ears Old ‘Washington Bankers Thought Him Wealthy A few mopths back there died in this city a man reputed to pe worth two gmillions. He had large realty hojdings. His pame was goed st mapy banks. But liguidating his ebligations has peen a-hard matter. Within the last few weeks local banks bave been told that his estate will only pay 90 cents on the doflar. To- day only a $2500000 insurance pelicy saves that man’s family from absolute wapt: No man in Washington is too big to ueed life insurdpcs. .The Mutuel. Benefit Life Insurance Company of New Jersey has_a.policy that appeals to men of affairs. Send for our booklet, - “Endowment -Insurapce at Life Ral Special Agents: TAMPLET, General Agent. and Dwight T, Scoft. Rates.” P H. Frank D. Roach Suite 31, 1425 G St N.W, Phene Mpin 2217 AUGUST. .15, 1921, tober, 8.77; Desember, 8.8%; Mareh, 8.99. Mrs. William Smith. a New Jersey woman " of eighty-fonr : ays, cutting her thiré set of testh. am TIZENS SAVINGS BANK ° [l P i (i Befors l.cavmq'l'own Camp l-)..'-a sraoee or ot gu ‘eu'll enjoy your “leave.’ knawing thet your valushles sre 1336N Y. Ave. FORTY-EIQHT YEARS OF PROVEN SAFETY Rebind cne -nt. ol VIRST MOBT- GAGES offered by 1 o Usugual dempnd m-mm capita in 1001 has n.'.hm"u. Yo offer FIRST HOITOMES i EARNING 8% INTEREST 5 the same wide NOW thyt the did 1 we made them 3t 5 per een Denomingtions $:00, $300, §1,000. The F. H. SMITH CO. 815 15th Street 48 Yeprs wx!ht:"l»u 9 Awy 8.87; Jan 8.96; May, 9.00; July FINANCIAL. STOCKS—BO GRAIN — SUGAR — COFFEE g#Securities and Commodities 20 Broad Street, New York MEMBERS: New w?-:: Produce Exehangs ¥;.¥; Cofee and 8 Exshange Chicage Board of Frade Members tl l-l"r.o.l Apwneinte ashington Office @m FLOOR CORRIDOR 0ODWARD BUILDING Telephone Main SAFETY —unot only a promise, but an established fact when you invest in FIRST TRUST NOTES INTEREST 7% ———in‘yaur mail the day it is due. SHANNON & LUCHS 713 14th St—Main 2345 \ Bought and Sold en Commfssion I Partial Payment Plan It is now pu::l‘lll‘ fnr you to byy and pay for Saul First Mortgages in the same mauner as you did Liberty Bonds during the war. ses of The plan is especially well adapted ior two ¢ nvestors: (1) The smail investor who desires to accumulate systematically and at the samie time receive an adequate returi. He makes his first payment of 10% or more. and pays the balance in monthly payments of 10 per ceat. 5 (2) The investor who prefers to ho'd the entire mortgage. For an example. he has $2000: the morigage is $5.600: he can purchase the entire mortgage plan. receiving 7% the amount invested immediately. Olfor @ Quarter of a Century Without a Loass, an on Clients using this -method of investing reccive 79 interest an all partial payments. In other words. the purchascer receive interest on all his payments from the date they arc made. The method of payment is flexible, because he can increase his payments or pay it full at apy time. The client’'s money invested with us. begins to work for him as soon as He geis the largest possible return with safety on his money while it is accumulating for investment. Its great- est advantage is that it provides the necessary system and incen- tive for safe, profitable investment. Come in and talk the matter over. B. F. SAUL CO. Mortgage Loans 934 N, Y. Ave. N.W, HE conservative man is unmoved by *~'es ai riches derived through :culation. Chance propositions should not enter into questions of finance. and before -making an invest- ment 3 man shpuld do some hard think- ing and ask many questions. When our First Mortgage Loans are the subject of discussion, questions are alwayvs welcomed. \We can satisiy the investor of their safety irom every angle. Conservatism is our watchword: the investor is protgcted in every re- spect. and the efement oi risk js elim- inated. The return—7%—is unusyally attrac- tive for an investment of such sound- ness. We would like to go into the subject more fully with you.~ The loans are in convenient denomi- ations. o '-HnLoRUST° .2 912~15UST.N.W, Are yoy one n/ those who live up tg every dollar? How Much * Will You Save This Pay Day? What you earn daesn’t count as much as whot you SAVE. The Dollar Saved TODAY is just another siep toward Success and Prosperity lgter on. Get ready for YOUR Fumre. YOUR OQpportynity, just around the corner. A4 heuhhy Bank Account will help you 1o grasp it. The Second National Bank “The Bank of Utmost Service” 509 Seventh Street N.W, Mm&orfiwflof&drwm offices from 927 Fifteenth street to ~ 1516 K Street a H s ¥ v ¥