Evening Star Newspaper, December 31, 1921, Page 17

ol NEW YORK STOCK EXCHANGE Received by Private Wire Adv Rumley. . Adv Rumley pf. Ajax Rubber. . Allied Chemical pf 103% Allis Chalmers. ... 3% Allis Chalmers pr. 8% Am Agr Chem. Am Beet Sugar. Am Cotton O1il. Am Druggists. Am Hide & Lea... 13% Am Hide & Lea pf. 5% 2% Am International. 41% Am Linseed... . 81% Am Locomotive. .. 108 Am Safety Razor.. Am Ship & Com. .. Am Smelting. . Am Smelting pf... 8% 84 55 Am Sugar pf. Am Sumatra. Am Sumatra pf. Am Zinc & Lead... 12% Am Zinc & Ld pf.. 36 Anaconda..... 50 Ass0 Dry Goods... 45% Atchison. 9 Atlantic Ci .8 Atlantic Fruit Co. 2% Atlantic Gulf..... nY Atlantic Petroleun 25 Baldwin Loco..... 9% Baldwin Loco pf.. 104 Balto & Ohio...... 3i% Balto & Ohio pr... 52% Beth Steel (B) . 5ils Beth Steel 3% pf.. 106 Booth Fisheries... 5% Bklyn Rapid Trao.. Burns Bros. . Butte Copper. 5% Butterick. . . 3% Butte & Superior.. 21% Caddo O us% Californi 70 California Petrol.. 48% Canadian Pacific. . 120% Carson Hill Gold 1t Central Leather... 30% Central Leath pf.. 64% Cerro de Pasco.... 34% Chandler Motor. Ches & Ohio. C&Estn 11 w i. C& Estn 111 pf wi. 3% Chi Great W pf.... 15% Chi Mil & St P. 184 Chi Mil & St Ppf.. 32% 635 Chi & Northwn Chi & Northwn pf. 101% Cni R1 & Pacific.. 32% ChiR1& P 6% pt.. 1% Chile Copper. - 16% Chino Copper. 28% Cluett Peabody... 45% Coca-Cola. 43% Colo Fuel B Col Gas. .o % Col Graphophone.. 2% Col Graph pf. . 10 Comp Tabulator. Cons Gasof NY... 91 Cons 1ntl Cal Min. ‘E:: Cons Textile. Cont Can. . 4 Corn Products. ... %% Cosden & Co. g% Crucible Steel. Cuban-Am Sugar.. Cuba Cane Sugar-. Cuba Cane Supf... 15 Davidson Chem... 6% 157 De Beers Mines. .. Del & Hudson. ... 107% Del Lack & Wstn. . 118% Dome Mines. .. 18% Endicott-Johnson. Erie.... Famous P! Fisher Body of O pt Fisk Rubber. Freeport Texas. Gen Am Tank Car. Gen Asphalt. Gen Motors. . Gen Motors pf.... Gen Mot 6% deb. .. Gen Mot 7% deb... Great Northern pf. Great Nor Ore. ... 82 Greene-Cananea.. Guantanamo Sug.. Gulf Mo & NoT.... 4% Gulf Mo &N Pf. ..o Gulf States Steel... Harbishaw Cable. 1 Haskel & Barker.. “l::: e MIg. Hende s Hupp Motors. n% Inspiration....... 40% Interboro Metro... 1% #7TAgri Chem pf. 36% Int Cement....... intl Harvester.... 82% Intl Mer Marine... 14% Intl Mer Marine pf 65% Intl Motor Truck.. 26% Tntl Truck 1st pf.. 73 Intl Truck 2d pf... 51% Intl Nickel. . B Intl Nickel pf..ces 65 Intl Paper. . 8 Invincible Oil..... 1% 1sland Oil . 2% Jones Tea. 3744 Kansas City So 2% Kansas C Sou pf... 524 Kansas & Gulf Co.. 6% Kelly-Spring Tire. 4 Kennecott. . 2% Lorillard.... Louis & Nash Manati Sugar..... 30 Manhattan Elev... 36% Manhattan Shirt.. 33% Market St prior. 35% Marland Oil... 26% Martin-Parry..... 21% Mathison Alkili... 21% Maxwell (B,.....o. 14 Mexican Pete. ... 114% Middle States Oil.. 13% Midvale Steel. Minn & StL (n)... 5% MoK&TWI 9 2% 1 2% . 1% &% Montana Power... 64 Mont Power Di. Montgomery Ward 13% Mullins Body. 19% Natl Acme. - 0% Natl Biscuit. 126% Natl Biscuit pf.... 114 Natl Cloak & S pf. 67 . 36% Natl Enameling NatlLead...... Nevada Copper-. N Y Central.... NYChi&StL. N Y Dock. . NYNH&Hart... 2% NYOnt & West... 20% Norfolk Southern. 9% Norfolk & Wstrn.. 9% North America.... 4% North American pf. 39 Northern Pacific.. 76% Nunnally Co. . 1% ©Ohio Body & Oklahoma Prod... 2% Orpheum Circuit.. 4% Otis Steel... . 10% Owens Bottle. . 2% Pac Development. 6 Pac Gas & Elec. Pacific Mail. Pacific Oil. ran-Am Pete. . Pan-Am Pete (B). Pennsylvania..... Penn Seabd Steel. . People’s Gas...... Peoria & Eastern. Pere Marquette... Pere Mrq prior pf. Pere Marq pf..... Phila Company. Phillips Jones. 2 ones pf. .. Phillips Petroleum 8% FINANCIAL.™ Direct to The Star Office. Migh. Low. Close. High. Low. Close, THE EVENING STAR, WASHINGTON, NARROW RANGE, LOW PRICES, DO NOT PRECLUDE PROSPERITY 10% 105% 10% | Plerce-Arrow e 13% 18% ms 17 2 & e g o 2 i Elerce oUpe . 2" 7 |Review of Trade Conditions Shows Busi- o e O = ness Sagacity and Alertness Still Es- 34% Public Serv of NJ. 67 £ Pullman Co.... unta Alegre. Pure Oil. oo.. % | Railway Stl Spr. . Ray Con Copper. Reading. ieading 1st pf. Remington Typr. Replogle Steel. Rep Iron & Steel. . Rep Iron & Stl pf. Rep Motor Truck Royal Duteh St Joseph Lead. . StL & San Fran StL & San Fr pf. 1St Louis Southwp. St Louis Sown pf. Savage Arms... .. Saxon Motors. . Seaboard Air Line. Seaboard A L pt. Sears Roebuck. 108% 38% 9 Special Dispatch to The Star. NEW YORK, December 31.—The first step American business men will take in 1922, whether they have voiced their object even to themselves or not, will be to regain their right to the adjective “alert.” They are convinced that busi- ness will experience a period of normal prosperity in the coming year, but they also recognize that such prosperity must be built upon narrower margins of profits. Reports from all over the country Indicate beyond reasonable doubt that the United States is enter- ing a period of narrower price changes. This narrowing range, even with de- « | clining prices, does not preclude pros- iperity, but thoughtful business men realize that such conditions necessitate real business sagacity and unceasing activity and alertness in order to show profitable return. The attitude of ! thoughtful business leaders toward the coming year was voiced today by a large clothing manufacturer, who de- clared that those business men who are alert and watch conditions closely, adapting themselyes quickly to the fluctuations, should enjoy a most pros: perous vear. “In some sections of the country,’ e continued, “business is even better than during what we would term ‘normal times.’ If we all devote some of our time to strict application of right sales methods, and deliver the right -kind of merchandise at the lowest price consistent therewith, I am confident we are going to enjoy a botter year. With a country as large as ours there are always sections from which business may be secured and those who keep most closely alive to conditions are the ones who will enjoy the returns.” Advertising Campaigns. Nothing is more indicative of the { widespread determination to go after business and land it than the adver- tising campaigns now being planned. Business dispatches received from all over the country in the last twenty four hours indicate that advertisers are getting ready. A recent ques- tionnaire distributed among a selected list of national advertisers showed that over 60 per cent intended to in- crease their advertising expenditures and only a negligible percentgge will curtail their appropriation. They are fighting for the lowest rates and are making every effort to secure more favorable terms, especially from the magazine Executives in every line are whittling at overhead with the same persistence shown by a youngster with a new knife operating on a cedar shingle. Costs are being pared down and one of the most encouraging indications throughout the business world is the increased personal efliciency shown by labor. Shattuck-Arizona. Sinclair Oil.. .. Sloss-ShefHeld. ... So Porto Rico Sug. Southern Pacific. . Southern Railway. Southern Ry pf... Standard Milling. Stand Oil of Cal. . Stand Oilof N J Stand Oil N J pt Stewart-Warner. Stromberg Carb. % | Studebalker. ... Submarine Boat. Superior Oil. . . Temtor Corn (A) ‘Tenn Copper. .. Texas Company Texas Gulf Sulphur Texas & Facific. .. Texas & P C & Oil. ‘Tobacco Prod. Trans Contl Oil... Union Bag & Papr. Union Oil. Union Pa “eeee 125% Union Pacific pf... 721y United Alloy Steel. 25% United Cigar St pf. 105 United Drug. 72 United Ry Inv pf. United Retail Strs USCastIrPpf U S Food Prod.... U S Indus Alcohol. U S Realty U S Rubber. Utah Securities Vanadium Corp Va-Car Chem..... Va-Car Chem pf. Vivadou.. Wabash...... WabashpfA..... Webber & Heilbrn Western Pacific Western Pac pf Western Union. Westhse E& M ‘White Motor. White Oil. Wickwire Spencer Wilson Company.. Willys-Overland. . Farmers Have Problem. The farmers, perhaps, face a worse situation at the outset of the new vear than any other element of America’s industrial life. There still remains, in spite of falling prices in many commodities, a wide spread be- tween the relative prices the farmer receives for his products and those he pays for what he buys. In many instances he is between the devil and the deep sea, with the obligatior of paying old débts on one side and the necessity of buying new equipment and necessities on the other. However, increased foreign demand and certainty that the world’s sup- plies will not be as great as antici- pated are serving slowly to relieve that situation. The reduction of 16 per cent in freight rates which must be in effect by January 10 also are increasing_the returns to farmers on grain, grain products and hay in the states west of the Mississippi river. Slow Market Not Serious. Worthington Pmp 45 Wright Aero....... 8 HOURLY SALES OF STOCKS. 1lam..... 27700 12m. -+ 390 000 i WEEK’S WHEAT MARKET DEPRESSED BY REPORTS CHICAGO, December 31.—Govern- ment _crop reports that were strued as bearish regarding wheat, and were accompanied by the failure of an important firm here, have been{ eftective this week in putting wheat| Slowness in the market for iron, values on the downgrade. Compared |steel and coal and copper and some with a week ago, wheat this morning [other basic commodities at this time was % to lower, corn off % to|is not regarded as an entirely unfa- 1% and oats varying from % decline | vorable indication. Prices are soft to % 4dvance. Net changes in pro-|and this has a natural tendency to 2 visions ranged from 12 less to 10 gain. |restrict the placing of orders. Rail- % % | "~ Announcement of an increase of the froads, however, have already an- 8% 8% | weekly total of the domestic visible |nounced programs for increasing A% 4% | supply, whereas a decrease had been |equipment and betterments which 15 16 |looked for, preceded the government |will entail the expenditure of many % 46% | crop reports and tended to give bears {millions of dollars in the first part 1 1 in wheat an additional advantage.|of the coming year. 9% 79 | Many traders had anticipated that the | The optimism with which hard- 1% 17% | government's 1921 crop estimate | headed financiers regard the business it 1% | would be enlarged, but few had ex- |outlook for the coming year may be 1% 113 | pected that the increase would prove |judged by the declaration of one of 7o o | S0 great as turned out to be the case. England’s leading bankers, who i Furthermore, as a rule, the subse-|declared today that he expected to 1% quent figures which the government {see 80 per cent of the productive ca- 85% gave regarding the 1922 crop took the | pacity of the United States employed 21 21 | trade by surprise. Free selling, which | before the end of the year which be- 8 followed, included heavy liquidation |gins at midnight tonight. 4% 14% | on the par; of ll]a_r’ge houses, the sus& 65% 65% | pension_ of which was _announce: ; bri 2 | Btr" e best raiues of ‘the week |Commodity Reports i It were due to indications.that besides - i £ 24| corn a large amount of wheat would From Various Sections i be bought for Russian relief. Depression of corn was more or less Railroad Equipment. L4 6 |due to prospective increased receipts| NEW YORK, December 31 (Special). 53 82% | as a result of reduced freight rates.|—The New York, Ontario and West- 1% 1% | Bullish supply reports held oats com- [ern railroad is in the market for a 2% 2% | paratively steady. half million dollars’ worth of new 8% 3% | Provisions averaged lower With|equipment, which will be delivered 2% 23% | hogs. during the next few months. 524 52% —_— fiidelly % 7 ‘Machinery. & 8% G ALL CORN RECORDS BROKE | corrncrrma™a™ 1 compor 51 %% 2% R (Special).—The Hendee Manufactur- ing Company, makers of the Indian motor cycle, has practically com- pleted negotiations to sell the Harley- Davidson company, which it owns, to New York and Philadelphia railroad interests. The price named is $825,000. l;;% Chicago Receipts for 1921 More 57 Than Double 1920. m" CHICAGO, December 31.—Corn re- | ceipts at Chicago for 1921, with the last week estimated, broke all rec- 160% | ords, being 184,386,000 bushels, or 109% 109% | more than doublé those of 1920. Clothing. 24 24| Flour also set a new record of| FORT WORTH, December 31 (Spe- a1 36% | 1,895,000 barrels. Arrivals of -wheat | cial).—Clothing salesmen who had 33% 83% andj;:atls were below the average, and {been withdrawn from this territory 35t a1 | Of barley were the smallest since [by eastern firms because of the slack 26% 25 [ 1882, Wheat receipts were 45635000 |gemand for clothing have begun to 21% lag e OR s 2128000, fan arley. return to this field and are_ finding = 2| Assregate receipts of the five grains romeibusincEs were 384,663, ushels, an_increase 4% 114% | of 117,632,000 bushels over 1920, and Beuit 13% 13% | only exceeded four times in the his-| SAN FRANCISCO, DPecember 31 2% 27% | tory of the Chicago market. (Special).—Europe is buying apples % 5% heavily In this market. One steamer H o recently _too ,000 boxes to Eng- % o554 REVIEW OF TRADE. land and continental ports and an- % 14| NEW YORK, December 31.—Dun's|other vessel now is loading 150,000 218 5 | réview of trade says: cases. Demand ls strong and prices 1% It “A year which has been marked by |are moving upward. % 4% | general eo’onomx;:{eadju.stmenc it = 3 64% o its closing with quietness in busi- o 101 101 | ness the prevailing condition, but with{ SHREVEPORT, La., December 31 13% 13% | Promise of improvement to follow. | (Special).—The bringing in of new oil atiol operatiol 10% uisual, much has been accomplished 1n | cobtnern part of Loulslans and. southe ‘W“ 1264 | the way of strengthening the funda-|ern Arkansas. Twenty-four new pro- 14 | mental situation, and the outlook is|ducing wells were brought in this week Sflm @ |for turtner raduar Sommereial_re- :1a | covery. Final estimates of crop pro- 7 § | ductions emphasize the reduced pus- 5 sing power in agricultural com- % 3% | munities, smaller yields and lower I 53 | prices having a far-reaching influence 5 and unemployment in manufacturin, g B 1274 | and mercantile channels accentuates 2% 207 | the restriction of public consuming 0% ‘o% | capacity. The volume of retail holi- e o1 | day trade, however, was heavier than = ‘6* ?nllk'ipc.te;i in \('la.rlous places, and of- | N erings of goods at more attractive 9 39 | prices, which are beginning to a i ock Exchange ;’4‘2 1;& in dlflerlent ?uar!ers, may be exp’é‘éfl; New“’rkSt to accelerate distribution. « Weekl: 1% 1135 | bank clearings, $4,978,064,000. ¥ 111 Broadway. New York 2% 2% 1% 1 0% 10%| PLAN FOR SURPLUS SUGAR. | 2% | NEW YORK, December .31.—Or- o 0 ganization of the Export Sugar Com- — ! 63% | pany, which will endeavor to dis- 3 3 n% 11% | pose ‘of surplus sugar supplies abroad Washington Office s ang | after refining it in the United States, s said today to have been virtually Er 2% | completed. 1t will be formed under COLORADO BUILDING & the Webb act, which permits combi- F nations for export trade. Earl D. abat, president of the American 8% 68 | Sugar Refining Company, is slated 1% 11% | to_be ‘president of the new cor- 2% 20% | poration, which, in addition, to that [ 65 |company, will be composed of the 51 Cuban American Sugar Company, the 2% United Fruit Company and B. M 105% 100 105 |Howell Son & Company. 0% 0% 0% 8% % 8% |Other Financial News on Page 18. sential to Profitable Returns. and twenty-five last -week, with only five failures in the two weeks. Textiles. ° \ BOSTON, December 31 (Special).— According_to the experts of the First National Bank of Boston, the edge is off the demand for textiles for the time being both in woolen and cotton goods. Clothing. CHICAGO, December 31 (Special).— Makers of all kinds of wearing apparel in this district are working on new de- signs, new materials and new prices. There 1s a good demand in some lines ;n;ig Johbers are planning vigorous cam- aigns. Coke. UNIONTOWN, Pa., December 31 (Special).—Several independent opera- tors have continued their last quarter coke contracts for thirty days, while others have arranged for continued shipments, with the price to be settled later. ~ Bi-product coal can be pur- “hased at $1.10 f. 0. b. mines. HOUSTON, Tex., December 31 (Spe- al).—About a miilion pounds of wool in storage here has just been sold to northern_ consumers. ~ This_closed out the supply of the Mohair Growers' As- lon here. i ractica ea ap the 1921 Texas clip, "t cleans Notes. OTTAWA, December 31 (Special).—It s calculated that the purchasing power 'f the farming communities of Canada, which comprise nearly half the popula- tion, have been cut in half by light *rops, poor market conditions and dam- 3E€ to crops before threshing in the last rear. The pulp and paper business, which has been an invaluable buttress of Can- ada’s economic life for the last six years, s still the dominion’s best industrial «t, but the decline in both price and demand has hit this industry hard. The umbering, textile, shoe manufacturing ind paper industries are reasonably a tive at the close of tae old year, but are still far from normal. STATEMENT OF BANKS. Call for Report Will Be Issued Early Next Week. Call for the condition of national banks as of the latter part of this month will be issued early next week by Controller of the Currency Cris- singer, it was indicated at the Treas- ury today. Inder ‘the law, officials explained, five such calls are made annually and four only have been made this year. | The controller, however, is al- lowed five days of the mew year in which to issue the final call of the old year. DROP IN LIVE STOCK. Chicago Trade Shows Lowest Fig- ure Since 1915. CHICAGO, December 31.—Business in live stock in Chicago for 1921 ag- gzr;flgalgda $443.906,000, a reduction of 2,085, mating the last two days’ receipts. Chicago packers slaughtered 12,032,- crease of 449,000 head over 1920, Shipments of live stock from Chi- cago totaled 4,896,000 head for 1921 an increase of 551,284 head over 192 500 head of live stock in 1921, an in- | D. C, SATURDAY, DECEMBER 31, 1921. BANKERS ARE OPTIMISTIC OVER YEAR’S PROSPECTS NEW YORK, December 31.— Busl- ness prospects for 1922 are, in gen- eral, hopetul, according to statements by prominent bankers, made public today by the American Bankers' As- soclation. “The future of business and finance in the United States is encouraging,” said Thomas B. McAdams, president of the assoclation. He emphasized the importance of this country in- teresting itself in the problems of Europe, in order that American pros- perity may be maintained. He said that,” although some leading politi: ciang and newspapers opposed extend ing aid to Europe at this time, “fu- ture prosperity depended on the way financial America answers the call.” “The time for anxiety seems to be entirely past and the middle of 1922 should see recovery well established,” declared John C. Lonsdale, president of the National Bank of Commerc: St. Louis. “All of the things neces- sary to commercial betterment seem to have been set in motion, so that 1922 should see the beginning of the era of our greatest and most golden prosperity.” Prosperity among our farmers, man- ufacturers and merchants is directly affected by the unsettled condition of finance and_politics in Europe, a cording to J. A. House, president of the trust company _ divi and Guardian Saving and Trust Compan: Cleveland. “This must be remedied,’ he added. strikes for higher wages are certain- Iy not in keeping with the present order of things. Labor must bear its fair share in future deflation.” John S. Puslicher, vice president of the American Bankers' Association, said the trend was towards easier money rates, and there was nothing to indicate that this would not continue. is_our belief,” declared R. president of the sta on of the American Bankers' A sociation, “that we will not again have real prosperity in thi until some kind of economi tion has been accomplished in Europe and a stable basis for international | trade worked out.” DIVIDENDS. Stock of Pay- Record. mble. Bush Terminal Co., s.-a., $2.50.Jun. 6 Jan. 15 Bush _ Terminal Jan. 6 Jan.15 i Terminal Jan. Jan. AUDITING And closing the books for th showing true condition of tax returns prepared by countant. Address Bo; -H. Star office, ® EQUITABLE Co-Operative Building * Association Organized 1579 |2§ YEAR COMPLETED Annets $4,365,396.73 Surplus $1,111,632.96 Save While You Earn —Make up your something each pay it grow. ind to save lay and watch Subscriptions for the 82d Issue of Stock Being Recelved Shares, $2.50 Per Month 4 Per Cent Interest l EQUITABLE BUILDING 915 F St. N.W. OHN JOY EDSON, President RANK P. REESIDE, Sec’y « ] i “It is apparent, also, that LOANS teous treatment. S.W. Cor. 15th & “K” Sts. 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- Percy H. Russell Co. FINANCIAL." Money to Loan first deed of trust on “eal estate. Prevailing interest and commi, Joseph L. Weller £ Wah. L. & Trust arp 1 ad Money to Loan ‘e are in a position to give you the vest service fn real loans. Money now on “and for elther straight or bullding ioans. Shannon & Luchs M. 2345 713 14th St. “Ol.ll'" First Mortgage 1% “INVESTMENTS" can be se- Money In Any Sum Our connections locally and in other cities enable us to fur- nish money in any amount for Estate En- ‘Washington Real terprises. Stone & Fairfax 1342 N. Y. Ave. Main 2424 = == cured now in amounts of First Trusts $250 Up to $10,000 . ‘The only absolutel; form of Exclnnvely ] investment yielding ‘Vien"a liberal rats ofTI;leNhl. le same courts , t | Conservative efficient cnnlldenll::":he:m:p-ll -1:‘ Valuations vestors. o colortiied Certificates of Title ac- T npany each note without cost to in- == 6% Interest == vesr. Chas. D. Sager 923 Fifteenth St. N.W. Main 36—Loan Dept. i| GLOVER & FLATHER 737 FIFTEENTH STREET BIRD&CO BROKERS Stocks, Bonds 821 15th St. Main 3160—3987 No Lot Too Large No Lot Too Small Direct Private Wire to Ogden D. Budd & Co. (Establixhed 1885) “ New Yeork City Full Service At the End of the Rainbow —they found only ised “a pot of gold. flisappointment. They had been prom- A promise made should be a promise kept. Likewise, an investment should mean more than the mere expendi- ture of money in an unknown project. It should combine safety and revenue. 70 The income return on a Phillips 7% First Mortgage is more than a promise—it is an established fact. The investor not only receives his interest promptly when due, but his principal back in full at maturity. In denominations of $100, $250, $500 and upward. Over a Quarter of a Century Without a Loss. Wise Spending turn. But money good, sound time, in the - satisfactory return. up. Mortgage Loans 1412 Eye St. NW. Main 2100 Money spent for lux- uries and imagined necessi- ties is gone, fever to re- “spent” for a investment like our 7% First Mort- gages is not only returned to you at a designated meantime earns for you a steady and In amounts of $250 and B. F. SAUL CO. | l Inv igate our mortgages. Write, phone or call for booket 2: 59 which explains every detail. It's FR WILLIAM S. PHILLIPS First Mortgage Investments 1409 New York Avenue T = This Is Important to You The NATIONAL MORTGAGE AND INVESTMENT CORPORA- TION, 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 in its operations. 2 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. Other business as well as that of the builders is benefited by the release of money tied up and dormant in second trust notes. Institutions doing a general banking business will be bencfited by a stimulation of business through building operations, which multiply and give activity to bank accounts. Investments in the National Mortgage and Investment Corpora- tion are safe and profitable. 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- holders all alike. p Main 98 large. HOME SAVINGS BRANCHES 7th and Mass. Ave. i 8th and H Sts. N.E. 436 7th St. SW. 15th and Penna. Ave. The American Security Takes An Interest in Its Customers Interest in its customers is re- sponsible for the success of the American Security, more than any other one thing. It is very gratifying t6 the offi- cers of the American Security to find that customers know a real interest is being taken in them. The affairs of the man who has a small account receive the same degree of interest as do the affairs of the customer whose account is very _If you, too, want a banker who will take a real interest in your affairs, open an account in the American Security at ONCE. 3% Interest on Savings American Security .and Trust Company . CAPITAL AND SURPLUS $5,400,000.00 Safety Deposit Boxes $3.00 Per Year - A portion of the Stock of the National Mortgage aml Investment Corporation is being offered at the same price paid by the officers and directors. Subscriptions are received by the Hughes Winance Corporation, 1418 1 Street Northwest Phones, Main §53 and §54. " The First City of the Land The National Capital has become the meeting place of nations and a center of international in- terest. Never before has Washington loomed so large in the eyes of all the world. Its property values are the assured values of its unassailable position as the First City of the Land. Our First Mortgage Notes on that property afford you the soundest possible investment. Swartzell, Rheem & Hensey Co. 727 15th Street N.W. Washington, D. C.- The Nation’s Home Town. 52 Years Without Loss to an Investor Capital and Surplus $2,000,000.00 Making Good Resolutions Won’t Get You Anywhere Unless You Stick Right to Them' —throughout the new year and those Deposit following. Agree to bank something Boxes at steadily; start THIS PAYDAY; keep Moderate at it and the dawn of another new year | Rentals will see you well on the way to finan- i Deposits cial independence. t Invited { This bank has been paying interest H gy to an army of satished depositors Amount ‘(now numbering over 41,000) for over Same half a century and is anxious to give 1 Rate of you the advantage of its service. Interest OFFICERS Faidioo VoINS BORM - Firsi Vics Bresiaent Large and . STON! econd Vige President Accounts Pt o Ld National Savings & Trust Co. S5th Oldest Savings Depository in Washington Year Cor. 15th and New York Ave.