Evening Star Newspaper, November 19, 1921, Page 16

4 F EWYORKSTOEK WERE LESS ACTIVE Taclines in Bethlehem Steel, Reading and Some Other Shares—Notes. EW YORK, November 19.—Today's + tion in the stock market was decidedly aw with some obscure stocks figuring the movement. while the usual lead- in the industrials and the rails did +t attract much attention. There was some pressure on Bethle- m Steel. on the statement made open- + last night by President Sehwab that ~i company was L { government war ships, ie price of the various shares or 1 to 1% points. Low priced oils, secondary food stoc < mthern Railway preferred, New York, ‘atario and Western and Pere Ma s ette were active and strong. pre- ~mably under the operations of pools. Of the better known shares in the ‘dustrial list International Paper. Re- .il Stores and Associated Dry Goods me to the front in the trading. Pullman and several of the high- rade ofls and chemicals joined Bethle- “Im Steel in declines, but profit-tak- wz was the cause for the weakiness wisplayed in the latter. Ofils Strong. Californian _Petroleum. Pierce ‘Transcontinental oils acted better. und as Linseed. Several of the utllities, cluding American Telephone and “‘elegraph. moved to higher levels. Shipping and rails were irregular. irmness in New York Central was .ifset by pressure against Reading. Sales for the two-hour session were 75,000 shares. WHEAT SHOWS STRENGTH " FINANCIAL.' 1 B0 5 g SRR, ' THE EVENING STAR, WASHINGTON D. C. SATURDAY NOVEMBER 19 1921-—PART NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Opea. High. Low. Close. Afax Rubber...... 1% 18 1% I8 N MW Uy All-Amer Cables. 03 w2 13 10 S o Alllnd Chemical... 4% 454 &8 u w135 | Kcoyat Allis Chalmern pf. 83 . 0 =M Lackawanta Steel a%x oN aw a Am Agr Chem.... 32 6% 60% | Lee Tire & Rubber 7% 1% T4 1% 8 | Lehigh Valley.... 56% y Am'Car & Fdy. Am Car & Fdy p! Am Chicle Co.... Am Hide & Les pf. Am Ice. \m Safety Ragor. . Am Ship & Com. Am Smelting..... ' Am Smelting pf... Am Tel & Teleg. Am Tobacco. .. Am Tobacco (B) At Woolen. .. Am Writing Prpf. 2% Am Zinc & Lead... 11 Atlantic Gulf pf.. Atlantic Petrol. Austin Nichols. Baldwin Loco. Balto & Ohlo. Beth Steel. ON RISE IN EXCHANGE Bklyn Rapid Tr! g8 8% 8 &% CHICAGO, November 19 —Upturns in | Bxlyn Rap Tr otfs, 6% 5% 6% 5% the price of wheat this week have ac-| g, 00 pro, 2% 1% s 1% npanied a notable rise in sterling ex- | gUIRSAIINLL % 5% ange and been ‘influenced by “crop | BUe COPRSCLLT Gl aon 16K, 104 mage reports from A nd | Bu H Dl Ww 16 Wk astralia. Compared with a week mm Caddo Of . wWeon om Vhoat this morning was 1% to 3% cents | Californja PokE. B B iigher. Corn up 21 to 34ad’. oats at | California Petrol.. 4% 34 S04 ) zain of %a% to | cent, and provisions uey 17 sk 1 changed 10 40 cents lower. 79 2 Wheat quickly developed _strength | central Leather. 2K 818 when sterling was _qouted at $t for the c.m"lu“m” Pe e Tk o1k first time this year. Gossip that a bix nking interest was planning a loan to rmany was also a stimulus at the same time toward higher prices for wheat, notwithstanding that denials of such plans were promptly forthcoming. Apprehension which developed later that the harvest just starting in the thern hemisphere would turn out to ho a disappointment as compared with the recent prospect vounted decidedly in _favor of the bulls. Under such circu much more than overcame losses which earlier in the week had taken place, owing to talk that Europeans were let- ting go of United States wheat at leas than replacement cost and that new Argentine wheat was being cheaply dis- posed of in Europe. Brisk export call for corn, together with gossip about government aid in finaneing the corn crop, have been a lift to prices both of corn and oats. Lowest quotations yet this season wera touched by provisions. Excessive hog arrivals seemed to be the chief weakening influence. NOVELTY IN UMBRELLAS. NEW YORK, November 19.—Natural and carved wooden handles are claim- ing more attention and usually in combination_with bakelite. celluloid or leather. The increased showing of | wood handles on women's umbreilas is not expected. however, to displace newer types. Carved ivory effects are being freely shown by the local trade and oriental influences are marked. More frequent use or colored designs is also noticeable in new creations for finer umbrellas. The stralght post with fancy cap and loop Is a favorite, leather being freely used. gl Y NEW YORK BANK STATEMENT. NEW YORK. November 19.—The actual condition of clearing house banks and trust companies for the week shows that they hold $29,589,970 reserve in excess of legal require- ments. This is a decrease of $5,533,- 780 from last week. ces the market i COFFEE PB.ICES EASY. | LOWEST SUGAR RECORD. | NEW YORK, November 19.—A further decline in the price of duty- free raw sugar today to the basis of 215-16 cents per pound established the lowest record since before the war. FIGHT TAX ON GIFTS. NEW YORK, November 19.—A let-| tcr of protest against thie proposed tax on gifts, terming it one more lin in the “iron chain around enterpri was sent to gongressmen by a mittee of business men. Tt sa; “Such an amendment not only acts to drive capital out of business, but further discourages investment and «enterprise, and with the high sur- taxes, corporation taxes and inheri- tance taxes. emphasizes the fact that the legislative tendency is to lessen 2 man’s power and control over that srall percentage of his income and wealth which ix left to him after the government is through with him.” LONDON MEAT DROPS. LONDON, November 19.—The meat market is ~glutted. Prices have slumped and cold storages are filled. Approximately 1,000,000 carcasses of lamb and mutton ure being held in rofrigerated ships in the Thames. ‘The widespread drop in prices is said to be due to poverty. The British government is holding approximately 2.240,000 pounds of mutton. The sup- plies’ of home-killed mutton are due to the high prices of fodde: i e e WINDOW SHADE DEMAND. NEW YORK, November 19.—De- creased cost and signs of a boom in the bullding industry apparently are having their effect’ on the sale of window shades. One of the largest manufacturers and jobbers in the country reports active buying in that line, with demand, contrary to the general tendency, running to the more expensive opaque and Holland shades. Water color shades of cheaper grades also are reported in fair demand. —_— CONTENDS FRANCE ACTED IN INTEREST OF ALLIES Statement Made in Response to Britain’s Objection to Franco- Turkish Treaty. By the Ausociated Press. LONDON, November 18.—France's reply to Great Britain's objections to the treaty which France recently con- cluded with the Turkish nationalist government at Angora is just presented. Marquis Curzon, the foreign secre- tary, contends that France acted 1hroughout in the interest of the al- The note, in friendly languag xeeks to dispel British fears regai ing minorities in_Turkish territory, remarking that French evacuation was made dependent upon guarantees favor of the non-Turkish minori- om- “rance says it recognizes that the arantees obtained were minor, but points out that the allies previously were unable to obtain any, and that ti2se guarantees are preferable, in the Interest of Christians, to the 1 ¢leadlock hitherto prevailing. tRROINJ... 19% 82% Certain-Teed Chandler Motor. Chi Mil & St Paul.. % TH % Cht Mfl.& StPpf.. 3T% o oe ek nK BK BK ZER Chile Copper. . 12% 1 . 26% 28% Chino Copper. - 26% 2 4 b1 Cluett Peabody Cuba Cane Sugar. Cuba Cane Su pf. W s s Mines. 16 1 g:la:eflm‘llon 109% 110 109% 109% Del Lll:f & Wl ‘Dome Min ohnlon. 15% % Y% % Do e 2 LK Erie 1st pf. . lfli 18% 18% 18% Famous Players... 67% 68 67% 68 Famous Playerspt 83% 8% 82% 2% Fisher Body of O pt. 'flz % T 8% JhH BN antanamoSug.. 8 8 7% 1% g:n Mo & N pf 18% 1% 1% Haskell & Barker. 9% 78 79 Hendee M(g. L 15% 1% 16% Mouston Oil 8% 8% % Hupp Motor: L1 1 I0% 10N lndluhoml‘ . 3% 3% 8% 8y Indian Refining... 10 10 10 inspiration. . 37 % 8T Interboro Metro... 1% 1% 1% Intl Cement. : : Intl Harvester.. Intl Mer Marin 2% 1% Intl Mer Marine pt 61% 67% B6% Intl Truck 2d pf. 44 Intl Nickel 12% Intl Paper. 5% invincible Ol 10% Island Oil.. 3% Jewel Tea pf. “ Jones Tea. “% Montgomery Ward ms Natl Acme..... Norfolk & Westrn. North America.... 43 484 % North America pf. 39% 0% $9% Northern Pacific.. 78% 78% ™% 78% Oklahoma Prod... Otis Elevator Poro Marquette. Pere Marq pf. Pere Mrq prior pf. Phila Company... Phillips Petroleum Plerct Plerce Plerce Oll. . Plerce Ol1 pf. Pitts Coal. .... Pitts & W Vi . B Pond Creek Coal. Ray Con Copper. Reading. . 2% 2% Reading 1st pf. s 6 e o Reading 2d pf. an e e Remington Type.. 2% 2% 20% 2% Replogle Steel. @A a1 2 2 Rep Motor Truc! 'ni Royal Dutch. 8tL & San Fran... !l‘fi St Louls Southwn. i82 Seaboard Air Lin 3% Seaboard A L pf. [ Sears Roebuck. 68l Seneca Copper.... 24 Shattuck-Arizo: 6% Sinclair Ofl. 8% 8o Porto Rico Sug. 36 So Porto R S pf. 80 Southern Pacific... 79% Southern Rallway. 19% Southern Ry pf. “%% Stand Ofl of Cal... 59 Temtor Corn (A) Tenn Copper... 9% Texas Company... 4% Texas & Pacific... 23% Texas & PC & Ofl. 30% ‘Tobacco Prod Tol StL & W pf. Trans ContlOfl... 11 Union Bag & Papr. 'm. % % % Union Ofl. 21 20% 10% Union Pacific. 124% 123% 124 Vanadium Corp. Van Raalte 1st pf. Va-Car Chem ‘Wabash pf B. .1 Wells-Fargo Exp. iSVx Western Md. Wilson Company.. 30 30 ‘Wilson Co pf. Willys-Overlan 3 Worthington Pmp. 8% ll% K e ———————————————————————————— DISARMING PROPOSALS WEEK’S STOCKS FACTOR | NEW YORK, November 19.—All other events of the week in the se- curities market were dominated by the unexpected - proposals of the { United States government to the dia- armament conference now in session at_Washington. Under speculative pressure, a num- ber of former war ues, including several inactive ordnance and muni- tions shares, suffered temporary losses of 1 to 5 points, with moderate im- pairment to the general list. Trading in stocks was active and broad, several sessions approaching the million-share mark. An over whelming proportion of the deall centered in oils and equipments; es- pecially the less-seasoned issues of those groups. Reactionary tendencies were shown by many minor industries, particu- larly those afilliated with the motor trade. Industrial conditiens continued to be obscured by the dissatisfaction arising from the proposed reduction of rallroad wages. The most stable feature of the finan- cial markets was the keen demand from investment sources. This was illustrated in the $50,000,000 offering of the New York Telephone Company bonds, which were many times over- subscribed and immediately sold in the open market at a substantial ad- vance over the syndicate price. —_— BUMPER SUNFLOWER CROP. CALGARY, Alta, November 19.—C. E. Thomas, a. farmer of Lloydminster, Alta, has loaded into his silo 234 wag- onloads of sunflowers harvested on fourteen acres. kept a careful record of cost and estimated that his winter feed has been put up at an ex- penditure of $2 & ton. Up to two years ago sunflowers were regarded as worthless weeds in western ada. The experimental farms of the Do-|. minion government established their value as a fodder crop. They are now popular among farmers all over the prairie provinces. . ‘CANDY STICK' FOR CHILDREN NEW YORK, hnnnnr 9, —Priced t $2 a dozen or §31 &:\! & novel ‘candy stick” for children is in the market here that promises to do well for the holiday trade. The ‘“stick” is made of spiral-colored urdbofld. has ‘a device for attaching Christmas tree, and is -hout elcht inches in length. It contains nvcn.l small toys, among them a whistle, and a horseshoe magnet. n is said to make a particular appeal to the curiosity of children, as the contents are not known when given them. |EARLY COTTON STRENGTH NOT FULLY MAINTAINED NEW YORK, November 18. — A favorable view of the opening de- velopments in the arms conference led to a very sharp advance in the cotton market at the beginning of the week. There was evidently a feeling that any substantial reduction in world expenditures on armaments would react most favorably upol commodities, and January contracts, which had sold as low as 16.08 last Saturday, advanced to 16.97. This improvement was not fully main- tained, owing to unfavorable Lan- cashire trade advices and reports of a poor spot demand in the south, but the more optimistic average of senti- ment has remained in ovidence, al- though coupled with more or less nervousness or uncertainty regard- ing the immediate course of prices. The census report showing domestic consumption of 494,745 bales of cotton for the month of October was a shade under private forecasts, but indicated a total of 1,615,306 bales for the first |" thres months of the season, including linters, with exports of 1,820,840 for the same period. This comparison is being used as a basis for predictions of very sub- stantial decrease In the carry-over, but the uncertainties of exports for the balance of the season have been emphasized by the talk of British trade depression. The domestic goods market has also been reported quiet o far as the primary markets are concerned, at any rate, and complaints of a poor spot demand in the south are|sup- posed to mean that spinners~are drawing upan earlier seasen pur- chases. The extent of late.summer and earlier autumn buying is now being shown by the weekly statistics, apinners taking for the week ended today being estimated at 443,139 bales, against 347,768 last year. BRIGHT TOBACCO AVERAGES. RICHMOND, November 19.—Bright tobaoco farmers of Virginia =old :. 274,338 pounds of the leaf during the month of October, at an average price of $27.17 a hundred, more than $3 higher than the average last year, ac- cording to a statement by the state oornmlulon-r of agriculture. Total producers’ up to November 1 amount to 10 633 pounds. Farmers have marketef 173,267 pounds of the dark leaf. Last month it averaged $11.79 a hundred. 'CHANGE SEATS HIGHER. NEW YORK, November 19.—Stock Exchange memberships posted for transfer show sale at $82,000. The last previous sale of a seat In the exchange was at 650,000, High. Low. Otose. | Mlinols Central 3igs. Nevada Ophir ‘:nlrnm'lhm-ll Peres ulu- Marine B8l Niw Cormelln, uter. Itapid Travalt 1st 554 | ) Loisvilie and Nashville 108% _\..x:l:lrrl.n\‘msx;‘i'cnnn 190& {flmur: Kansas and_Tes SO | Nurthwestern 0il. . asouri’ Paclfc genera e York Contral Ta. 106% | prar O, e 1001 | Berfection Tire. 143 | Producers and 104 | Radio com. 3 | Radio pr. 06 | Ray Hercul Gy, | R T Reynoids 57 Pennsylvanin It. R. 1053 Conselldatey Penunyivania 75 of 1030 1068, | Salt Creek Producing. BOND AND Cl.'lRB MARKETS. Bonds, (Furnished by W. B. Hibbs & Ca.) 8TOCKS. un‘. (Furnished by Redmond & Co.) U. 8. LIBERTY BONDS. i 30| Aetna Explosives 26 | Allted o 1? 10 w& s 35 Liverty 3d 8 Liverty 4tb 4 2 8 8. Victory 4%, 90 84 . Victory B%s. i OTHER_ BONDS, 18 French Government 88 1045.. 20 French Government 7w 1841, 98 ..}g Government of Bwiteerlund 8. w2y 1 Kingdom of Belglom 7 1087, A% United Kingdom bign 192 9044 | Citles Hervice (old) 228 Unlted Kingdom 0lox 1 8% | Citles Bervice pfd o1y United Kingdom bign 198 943 | Commonwealth Finance k] American ‘el Tel. conv. 08 10834 | Consolid per 1% Armour & Co. Algw...... 8514 | Continental Motors 5% Atchinon, Topcka A resson_ Gol g Atiantic” Goet. Line Ta....ooo. 1% s D . Refining Co. 6743 103 108 | amialon < 3 743 | Elk Basin ... 1% 9644 Petroleum 50 81 Croesus . 38 Farrell Coal . 7% 07 """.'"u"(‘,‘u' |=% ¢ | Fenslan :'“,',.".‘f" "“’:‘ 1087 | alilette. sate ptod jent 797 | Gillland 01 Y% 44 &%} ulen Alden Coa 44 81 | titenrock ol 1% 1y 648 | Guftey i ttlewpe i 1 S740 | Intercontinental Tubber 6y 7 u it | Iuternational Petroleum (nl') BT R U4 Srihwestern Ta 101 1061 | jerome Verde 18 = Kay County G: e Torpedo . Fhacoln ‘Totor” 1 Pacific retdg. 4s. Mountaln Producers Salt Creek (pew). Supulpa com Pennaylvania . Reading 8t. Louls 8t Touls qJuortaage 4% Armour Leather com. Armour Leather Armar prd i 7 Glas, 1038, 15t 6s. Wit s o SHORT-TERM RECURITIES. (Reported by Redmond & Co.) American American American ' 0IL STOCKS. Continental 0iL Co seent Pipe Line Co umberiand Pipe Line. Pipe Line. Sigoal 0il " Co, 104 17 i .‘ 5 Pennsyly anin-Me Drairie OIf and ¢ Prairie Pipe L Solar Refining king Valley 6 192 93 P ) 0. Humble 0l 75 1923 Da1s 1p0 | Southers Pipe Line' Co. Liggett & Myern bt South. P-m\l Tive Line Caiifornia. ta Standard Ol Standard 0l Co Swan & Fineh Co, Union Tank Line Co. Vacuum Qi1 Co. Washington Ofl T ek Car Western Electric 1037y ——— Westinghouse E. & M. 7s 1931. 105 DIVIDENDS DECLARED 5. TREASURY CERTIFICATES, Rato-SMaturity of Stock of 6% December Record. Pasable. 2%4s February. 10 Aeme Tes, q., 1st pf., $1.75..Nov. 19 Dec. Bs Mareh 15, Middle West Utilities Co., .. 3i;n March prior lien, 1%% . L 15 5%s March 15, National Cloak and Suit Co.. As April 1, pf., $1.75. “Nor. 28 1 31gx June 15, 1922 Nebraska' Power Ce o Biys August ‘1, 1922 100% .75 +..Nov, 19 1 51 x September 1. 100 11-16 100 13-16 | Pacific i1’ . 20 20 414 e it 2 | Southwestern .1 . a0 FOR N EXCHANGE. Relling checks—dollar values at noon to > dllar vatues ut noon toiey: | AN FEED WELL ON 60c. A DAY = Pragie X N YORK, November 19.—Pro- Waraw . visions for one person for three meals a day can be bought for 50 or 60 cents, says the superintendent of Roosevelt . G. W. M. Stock. who has just completed ‘a_ study of costs of food for fifty years. He reports that well balanced selected meals for pu- tients in that hospital cost 52 cents a day, exclusive of the cost of prepa- ratio; This is 32 per cent below the average daily per capita cost of food for 1920, which was 66 cents. e Belgrade Vienna ity Montreal By the Associated Press. NEY YORK. November 19.—Foreign exchange irregular, Great Britain, demand. 3.99%; cables, 4.00%: sixt day bills on banks, 3.96%. France, d mand, 722%; cables, 725, " Italy, de. 161 cables, 4.17. Beigium, 68034 cabfs 75’070 Germans, STRIKE STOPS SHIPPING. ;30 cables, 37. Holland.| GENOA, November 19.—A general gi'r'r"::g 351" saliles Norway: strike proclaimed here caused by v ‘erences over cuts in pay has ex- 23.35. Denmark, demand, 18.85 Spain. | {anded over the Ligurian coast re- demand, 13.50. Greece, demand, 4.15. Argentina, demand, 33.00. Brazil, de- mand, 12.75. Montreal, 91%. _— BAR SILVER QUOTATIONS. NEW YORK, November 19.—For- eign bar silver, 69%; Mexican dol- lars. 53%. LONDON, November 19.—Bar sil- ver, 391 pence per ounce; money, 3% per cent. rates; short bills, 4% Discount per cent; 3 months’ bills, 315-16a4 per gion. The men affected include the port employes, making it impossible to handle shipping, and it is feared that the movement will spread to other Mtallan ports. LOANS, If you have money to in- vest we can safely place it on gilt-edge first D. C. Mort- gages. Our record of 30 years insures your protection. Cour- teous treatment. Percy H. Russell Co. S. E. Cor. 15th & “K” Sts, Conservative Valuations Im“y and in 7% Interest other citie enable us to fur. LOVER & \THER. Gvsv qum%mln Shannon & Luchs First Trust Notes THE INVESTMENT THAT ONCE YOU MAKE YOU CAN FORGET Our expert ornnlnuon safely manages it for you and places the interest and principal 'in your hands ON THE DATE DUE. In Amounts of $100 and Up i A l 0 o0 FINANCIAL.” BONDS WERE AEIIVE gt Mo AT STRONG PRICES NEW YORK, November 19.—On the E Q U IT A B L E curb exchange today prices, as a rule, were slightly higher. Some of the low-priced issues were again the lead- ers, due to the activity of iraders in this group. National Tin was in fair demand, with a sharp rally from its re- cent low, and Hard Shell Mining was influenced by reports of favorable de- velopments at the properties in Ari- sona. New Dominion Copper also was firm. There was active buying of the low-priced oils, including Victoria, Y Oil and Gas, Tuckeny and Keystone Ranger. High-priced oils were irregular, in- cluding Cities Service (old) common, which at one time was several points lower. Small upturns were recorded in Standard OIl of Indiana, Arkansas Natural Gas, International Petroleum, Ferris Oil, Imperial Oil of Canada and S8imms Petroleum. eum was steady. Coal stocks were firmer, with Farrell Coal the leader; Acme Coal held steady. Chicago and Eastern Illinois shares reflected the better demand for some of the non-dividend-paying rails on the stock exchange, the common being In fair demand at a gain of a fraction while the preferred rose near- ‘West End Chemical was Southern Petrol- ly a point. firm. There was continued good buying in bonds. the Chicago and Eastern Illi- nois 58 and New Haven 4s being fa- vored at substantial advances. NEW YORK, was no let-up today in the active buy- ing movement in the bond market. The feature was a further brisk rise in Mexican government {ssues, &c- companied by unusually heavy trad- ing. The 4s, which had closed last night at 37, reached 41, and the 6s jumped over § points. This virtually restored all the loss which followed the announcement & month or so ago that negotiations for financing th Mexican internal debt had struck a stumbling block. Although there was no official word with the course of the session, it is assumed that the dif- culties were in a falr way of being, ironed out. Liberties were firm, ex-! : fcept for slight weakness in the third Ays Foreign governments generally were strong. Norway 8s at 107% und Denmark 8s at 107% both made new highs for the year. City of Tokio s advanced a point.” City of Copenha- &en Glas were at their best when they got to Many Highs. Numerous new high records occur- red in the industriul section. Among them were bonds which have been prominent in the dealings of the last week. including American Telephone and Telegraph convertible 6s, which reached their top at 1091, The new New York Telephone Cnrnpany T funding 6s were actively traded in, ¢ were vesterday. but they did not ed yesterday's highest quotation. Bell “Tel went into new high ground at 108% Rubber irsues were Ntrong. States Rubber 7i.w and 1081 and 843, respectivel first 'time this vear. American Smel ing 5s equaled their high at 85. 8i clair Ofl 7%s struck their top at 98%. International Mercantile Marine 68 were at their best when they sold ut })i"“ hDumnV. 7%s at 103 made a new tablished among the rails. Kansas City Southern 5s at 82, Lauke Shore 48 of 1928 at 90%,. lllinois Central 4s of 1853 at 763, Colorado Southern 4s 901y, Baltimore and Ohio s at % and Missouri, second 4s at 46. Chicago and North- western 3138 guined two points and at 71 were at their best. The rest of the raflway list in the main held firm. Canadian Issues Firm. Trices In the market for Canadian provinclal bonds rose without inter- ruption this week above their high levels of the preceding week. All i~lasses of securities joined in the ad- ivance. Together with this activity were the quick sales to the investing public of fresh issues. Seasoned bonds in the Ontario and Manitoba groups were bid up steadily. Ontario 6s of 1943, a recent offering, were quoted 9015 !obn as o! 1926 were 932 bid, offered | bid, as amns! 91 asked. \flnl< at 94 the new 6s of 1946 were 10014 bid, offered at 101, and the 6s of 1925 were 97 bid, offered at 98, S — (Other Financial News Page 3. This i Section. Money to Loan Ve are In & posttion to give you the dest service in real loans. Money now on hand for either straight or building loans. Shannon & Luchs M. 2345 713 14th St. gh. Fresh high levels for 1921 were e.!-f Kaunsas and Texas | ouph I I< ” eller 45, Co-Operative Building Organized 1879 42ND YEAR COMPLETED Assets Surplus . SAVE SYSTEMATICALLY Unless you adopt a systematic sav- inge plan, very littie will be accom- plished in a financial way. Join the Equitable, Subscriptions for the 82d lssue of Stock Belag Recetved Shares, $2.50 Per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSON, Prestdens FRANK P. REESIDE. Seey, ‘The N ovember“19.—There fi'n rige .o"&'f,' a n Decdsof Trus Attention, Builders Stimulation ef home buildl Estate. | i i NATIONAL MORTGAGE AND INVESTMENT CORPORATION After All Is Said and Done This Booklet Wwill Help You on improved They have They have our entire organization behind them, assuring uninterrupted principal, and perfectly safeguarding your principal as long as that principal is invested. Ask for descriptive booklet “A,” it's free. William S. Phillips First Mortgage Investments 1409 New York Ave. Call, Phone or Write for it The N in its operations. Washington has heretofore been without an established discount- banking institution to standardize discounts and provide a ready agency for dealing in real estate securities based upon second as well as first trust mortgages. The National Mortgage and Investment Corporation supplements the splendid general banking facilities of Washington. business as well as that of the builders is benefited by the release of money tied up and dormant in doing a general banking business will be bencfited by a stimulation of business through building operations, which multiply and give activ to bank accounts Investments in the National Mortgage and Investment Corpor. The character of the management insures continued and growing success, with steady increase in value of the investment, which accrues to the benefit of the stock- tion are safe and profitable. holders all alike. A portion of the Stock of the National Mortgage and Tnvestment Corporation is being offered at the same price paid by the officers and directors. Subscriptions are received by the Hughes Finance Corporation, 1418 I Street Northwest. Phones, Main 8§53 and $51. This FACT remain: safest and most satisfactory security it is pos- sible to obtain. Phillips’ First Mortgage Notes are the type of security that appeals to people who play safe. They are a form of investment that for centuries has attracted thrifty people. They have land behind them. This Is Important to You NATIONAL MORTGAGE AND INVESTMENT CORPORA- TIO.\, of which Mr. H. Rozier Dulany is president, has been in successful operation for four months. It is meeting in a practical way the building and housing needs of the District of Columbia, and is making very attractive earnings on the money employed n'ruu: LINOTYPE CO. Brooklyn, N. Y. !ovr;‘mwr 15, 1921 ND Ay y dividend of 2V oo’ et umu ok of Mergenth Company will be paid on December 54, to storl noraers. of ecord s they appear ¢elose of business on Decemi 1921 The tramter booke will pot be siowe J08. T. MACKEY. Tres Without a Loss. First Mortgage Investments That Have Stood the Test of Time —warrant your considera- tion. They have proven the most dependable, re- liable and stable form of investment. They have weathered financial storms, depressions and periods of inflated values. They have always paid interest promptly when due, re- gardless of business condi- tions. For safety—yield — sat- isfaction—you can do no better than by investing in our 7% First Mortgages. B. F SAUL CO. age Loans 1412 Eye St. N.W. Main 2100 That First Mortgages Washington real estate is the buildings behind them. interest on Other second trust notes. Institutions Consider Washington--- OF A gage Notes. The extent to which indebtedness has been removed denotes the care and conservatism with which we select the properties on which our loans are made, and the thrift and character of the people to whom we make them. 727 15th Street NW. Washington, D. C. The Nation's Home Town. 28,500 home owners in Washington, more than 43 per cent have their homes entirely free of debt. LARGE proportion of these homes were built from funds advanced through our First Mort- Swartzell, Rheem & Hensey Co. 532 Years Without Loss to An Investor.