Evening Star Newspaper, March 29, 1922, Page 23

ANNOUNCE MERGER OF LOCAL BANKS Business, Directors and Fer- sonnel of Union Savings Go to Continental. BY L A. FLEMING. At a special meeting of the share- " FINANCIAL.” holders of the Union Savings Bank, | one of the oldest savings institutions in this city, practically the entire rep- resentation of shareholders voted to accept a proposition of the Conti- nental Trust Company and will, at a latqr date, merge with the latter. Wade H. Cooper, who is president of both institutions, will remain with the consolidated institution as its ex- ecutive head. ) All the personnel of the Union Say- ings Bank goes to the trust company in the merger, the directors aiso be- coming, in due time, directors of the Continental Trust Company. No comment has been made as to the method of financing the merger, save that the capital stock of the Continental Trust Company will not be increased, but will remain as at present. The merger will be effective as of April 1. In taking over all the assets and liabilities of the Union Savings Bank the resources of the Continental Trust Company will be increazed to about $6,000,000. The Union Savings Bank was or- ganized in 1591, and many of the lead- ing bankers of the city have at some time been connected in official ca- pacity with the institution. It num- bered among_its presidents E. Quincy Smith, E. Southard Parker, A. G. Clapham and Wade H. Cooper, the incumbent. Its capital is $200,000. surplus and undivided profits $75,000 and deposits $1,500,000. “It will be the policy of the man- agement,” said Wade H. Cooper, “to build up a large surplus and thereby make the Continental Trust Company a stronger and more useful institu- tion.” The Union Savings Bank owns its own building, while the Continental Trust is in a rented home. Wade H. Cooper is also the presi- dent of the United States Savings Bank, but no merger of this property is contemplated, at least at this time. Will Move $3,507,120.87. On Saturday at high noon the work of moving the resources of the Mer- chants’ Bank from its present loca- tion, 413 G street, to the big banking room at the northeast corner of and 15th streets northwest, in the Southern building, formerly occupied by the United States Trust Company, the Munsey Trust Company and the city post office, will begin. On Monday morning at the opening of banking hours the successor of the Merchants' Bank, the Merchants' Bank and Trust Company, will open for business, with enlarged capital, enlarged resources and prepared to take its place among the trust com- panies of the city, making seven of these corporations operating in the city. Peter A. Drury, president, and Ernest E. Herrell, active vice presi- dent, believe the transfer will be made smoothly and safely, all needed plans for safety having been com- pleted. Columbia Graphophone Co. The list of new directors of the Co- lumbia Graphophone Company, made public in this column yesterday, ap- pears in the Wall Street Journal this morning. It develops that the new board includes representatives of credicors of the company, and this will probably assure conservative and careful management, with €conomies instead of waste. President Wilson, commenting on the policy of the management, said: “It will be the policy of Columbia Graphophone Manufacturing Company to establish itself firmly with the dealer, through superior products, sound merchandising policies and ex- tended advertising activity with a|Cons Textile. view to further creating public de- mand for phonograph music general- 1y, but through the medium of Co- lumbia instruments and records spe- cifically. It will be the company's particular aim to further establish its good will with the dealers through perfect service and intimate co-opera- tion. “Close contact with the dealer and sympathetic knowledge of his prob- lems are of prime importance at this time, in view of the many companies which_sprang into existence during the inflation period which have placed in competition with high-grade na- tionally advertised products inferior merchandise. The management recog- nizes the necessity of strictest econ- omy in_every department of the or- ganization. Much has been accom- plished in this direction in the past thirty days through reduction of overhead and in factory and sales activity.” More confidence was showr in_ the preferred shares on the New York exchange. Local Securities Firm. The fresh bull movement in the New York stock market was reflected by increased operations in bonds and «stocks in the local market. Prices were invariably firm and tending toward higher levels. Washington Gas sold at 55, Capital Traction at 9514, Railway common at 38%, and the preferred at 69%. ‘The typesetters were slow at 147% to 1473 for Mergenthaler, and 7% for a small lot of Lanston. Bonds were_firmer, with sales at 10635 for the 7s of the Potomac Elec- tric Company, 92% and 92% for con- solidated 5s of the same company. OIL WELL IN PITTSBURGH. PITTSBURGH, March 29.—Oil, said to be of an unusually high grade, has been brought in with a natural flow of more than 100 barrels a day from a well on a 100-acre tract in the heart. of a Pittsburgh ward. The well is|Gulf States1stpf.. elaimed to. be the strongest tapped in this district, ever brought in within the city limits. NOVEL FRENCH CAMERA. NEW YORK, March 29.—A recently Imported French camera, which is a combination motion picture and still picture machine, is winning the ap- proval of amateurs. It is compact, , being about six inches high and four Inches wide. Its feature is an auto- matic regulator. Any make machine may be used for projection purposes =n the screen. The films used are of wtandard width, about eighteen feet long. and cost $1 each. The camera hai quick-action lens of the F 3-5 ty] BURLINGTON TO USE OIL. NEW YORK, March 29.—The Bur- lington will on begin to use oll- burning engines on two entire divi- sions, from Guernsey, Wyo.. to Bil- lings, Mont., according to advices re- ceived from the west. The change will be carried out whether the coal strikes occurs or not and wjll be permanent unless fuel costs btcome too high. Regular grade fuel oil instead of heavy crude oll used by certaln western roads will be used. BRITISH SHIFPING GAINS. NEW YORK, March 29.—An increase in net tonnage of shipping engaged in_foreign trade of Great Britain is indicated by official figures from Brit- ish ports for January. Figures re- ceived by the Bankers' Trust Com- pany of New York show the average daily movement of British_foreign trade shipping was much larger last January than during the same month of 1921. In January of 1921, a ton- nage of 176,276 entered and 161,778 tons cleared daily; last January 213,- 938 tons entered .and 211,840 tons cleared daily. ) L NEW YORK STOCK EXCHANGE _Received by Private Wire Direct to The Star Office. High. Low. Close. Adams Express 6 6% 6 Adv Rumley. Alr Reduction Alaska Juno. . Allied Chemical ‘Allis Chalmers. Am Can pf. Am Car & Fdy. Am Linseed. . Am Locomotive Am Radlator. Am Safety Razor... 1% % 14 % Am Ship & Com NG W% UK % Am Smeliting. 5% 61% BI% 5% Am Steel Fdy. . 36% 3% % 6% Am Steel Fdy pf... 95% 96% 95% 5% Am Sugar. . 0% Am Sugar pf. Am Sumatra. Am Tobacco (B). Am Tobacco pt (n). mu 104% 101% Am Water Wks. . 12 Am W Wks 6% pt. 2% AmW Wks7%pf.. 80 80 Am Writing Prpf.. 21 2T Am Woolen 86% 86% 8% 8K AmzZinc&Ldpf... 8. 39 39 Anaconda. .. 5% B0 BO% Afn Arbor pf #% Th 0% Asso Dry Goods. ... . Y% % 5% Assoclated Oil. 105 105% 105 108% Atchison. L% 9% 96% 91K Atchison pf . 8% % 8% 814 Atlanta Bir 2 % 2z 2™ Atlantic FruitCo... 8% 8% 3% 3% Atlantic Gulf m% 0% 28/% Atlantic Coas 91 9% ot Pk Atlas Tack 0 - 0% 0 20% Austin Nich L% 7% W% s Austin Nicholspf.. 8 8. 8% &% Baldwin Loco. Balto & Ohio. Balto & Ohio pf Barnesdall (A) Barnesdall (B) Beth Steel. .. Bklyn Union Gas. Brown Shoe. .. % T% O% % Burns Bros (A)....121% 121% 121 127 Burns Bros (B).... 4% A% n% 9% L3 % Butte & Superior... 20 % 26 Butterick:.... o nY% A% A% CaddoOil...... ... 12% 2% R% 2% California Pckng WHh 76 KN California Petroi... 62% 62% 62 2% California Pete pf.. 91% S1% 91% 91% Canadian Pacific. Carson Hill Gold. Central Leather. Cerro de Pasco. ‘Chandler Motor Ches & Ohio. Chi & Alton.... Chi & Alton pf. Cai & Eastn Ill. and is also | Habirshaw Cable. reported to be the first oil well to be | Handee Mg, .. A 5% 12% % 50 |whole. Ol shares came in for more Cont Can. . : e e 5% &% 6 |attention because of the feeling that Corn Products. Southern Rallway.. 21% 22% 21% 228 ; the increased demand of the spring Southern Ry pf. .. % o1t |Season would soon lead to higher Stand Oll of Calif, sk s |Brices for both crude and refined. ares o the ‘er! zer companles ! gz:guout?p.;.. . 12 1% |were in ‘demand by reason of the Stana ol much better collections, following the CubsCane paaw i cWae 514 314 |recovery in farm prices. Studebaker. . TR e Davidson Chem Submarine Boal ot BAR SILVER QUOTATIONS. S‘“”Hnroll.». % 5% 1 6% NEW YORK, March 29—Foreign SweetsCoof Am.. 4K 4% 3% 4% |bar silver, 65%: Mexican dollars, 50%. LONDON, March 29—Bar _silver, Temtor Corn (A).. 2% 2% 2% 2% |33% pence per ounce; money, 3% per Detroit United. Tenn Copper. . 11% 11% 11% 1% !cent. Discount rates—Short bills, 3% Dome Mines. Texas Company... &% @4 4% |per cent;. three-month bills, 3%a3i Elec Stor Battery.. 167 157% 15% 186% E:::g‘g:g‘::h.‘f'. :u :;:: ,: 82! Elk HornCoal..... 21 21% 2% 20%|mexass PC&OIl. 2% 25% 0% 204 A N eN SUNRBITION Endicott-Joanson 8% 8% 8% |;rhirg Avenue..... 21 2K 20 20% Endicott-John pf... 110 110 110" 110 |00 @ YEROT- 62 e e 6| California Insurance Company e 108 nm TlStL&WnB. . =% =% m% k| of San Francisco FamousPlayers... 8% m% 78 7% |TWinCityRTran.. &8 & & @ e Kugust 15, 'nfi“‘ = Famous Playerapf. 3% % st so|TransContiOil.. o% 9% s 9 | FedMines&Spf... 3 89 39 8 |unionBags&Papr.. 57 0% 67 60 | Ceplial stocks peid up, in cash /00600 Union OMl.... K % 1% 1% P ¥ Union Pacific ™ $10,500.57 Union Tank Car. 9 “on:g 38 Union Tank Car pfe mu 108% 102% 103% { Real estate e United Alloy Steel. 30% 0% a0% so% | feal so0aid Ropieqecs (Orriien): | SHE 22 . United Clgar Stpf..107 107 © 107 107 | B ves “500; Gen Cigar. . @ 6 @y 6 |United Frult 9% Gen Eectric. .luv. 156% 154 1563 | D0 ted Ry Inv. :;“ Gen Motors L10% 0% » Gen Motors pf 45% Gen Mot 6% deb. . .. 3 Gen Mot 7% deb. . .~ 6% Goodrich. . . 3 [ Goodrich pf. 5 Granby Consol. Gray & Davis. . Great Northern pf. . KT by , Great Nor Ore. missions: X Greene-Cananea . 7 9% 4% 95 |Gapital stock 1:000:908:00 Guantanamo Sug. .. 12% uns ur u% ‘mortgages unearned 652.35 Gulf Mo & Nor. 0 6% 62% 629 | Burplus over labilities. g Guit StateaSteei, || 0% T , % 2 |UtahSecurities . 1% 1% 154 18| e suoities % % % % |yanadium€orp... 3% 9% 8% 29% ‘2% % 216 mg|Va-CarChemical.. 35 35k 35 854 |yeor tom e T tramacted during the 3 ‘18 18 18 18 |Va-CarChempf... 75 7% 7 175 |Amount of Fisk { Homestake. . 6% o8 65 esy | Vivadou. B | e vets oot Houston Oil % 6% WK 8% | wapasn et Hupp Motors, B4 % 18 36 [ TEPRth 48 | stoney eceived duriag e year Hydraullc Steel % TH 7% Th|wabashpt B 19 19 | Expenthd during : Wells-Fargo % 9% Illinols Central.... 101% 101% 101% 101% | 9% | Gpo. W. BROOKE. ! Indiahoma. . . 3% 3% % % g‘"‘mg‘; S 10 1M ubecribed and | awirn 0 be?-m me this 230 Indian Refinin, 6% 6% 6% 6| vestern 1T% 17| day of February, i3 % Western Pacific. 1% 20 ;i ( JAMES F. McOUE, Inspiration........ &% M0 % WKl oo pocpr 5 Notary Public.in and for the ity and County ’u'}::':""fi‘{'“‘, 3 3% ™ |western Union S % sew | o OF San Franciaco, Siate of Galiforna. rboro Met D! Westhse Air Brie. 86 i o o w w|Weshee AlrBrie.. 8% s sen s Washington Insurance Agency, Inc. U N U M|Wheellne& LE s o% sx sk ey Amam .28 bl = S jooms R e R 7 16% it : A {Intl Mer Marinepf. 1 7k 0. Tk [WeleOll.o....... 9% 9% 9% o% Phone Main 5120 jIntl Motor Truck... 35% 6% % 3% | V0 OWITe Spencer. 84 UK U 1% Intl Truck 1stpf... 76 76% 176 6% wnuy:‘-o‘;'anr‘f::z" 5_7“ ': ':“ "'m Totl Paper (ata) .. si® st &4 o |Worthington Prip. 00 K- 60 B0 Invincible Oil 19% 9% 9% % | WrishtAero...... 8% 8% 8% L8% 3 28 2% % 53 HI‘L Low. Last, 1. 1% 1 % Call Money..... W s 2 2 19% 1%]|. HOURLY SALES OF STOCKS. 3% 0% % 0% 1 " 361 %0 e fl* % M% 1% - 686 €00 KansasCSoupf... 8% B6% 55 6 S Kansas&GulfCo.. 6. 6 .5 & IN DENOMI o Chi Great Westrn. . Chi Great W pf. Chi Mil & StP. I ChiMil&StPpf... 57 8% 31 &% Chi&Northwn..... 69% 71% 6% 714 Chi Pneumat Tool.. 69 65 6 6 Chi R1I & Pacific. ChiStPM&O. Chile Copper . Chino Copper. Cluett Peabody Coca-Cola Columbla Graph | Comp Tabulator Cons Cigar. Cons Gasof Cons Intl Cal Min Lebigh Valley. ... & Liggett & Myrspf.. 14% Lima Locomotive. . 111% Lima Loco pf. 110% Loews Inc. . 13 13 39% 39% us 18 14% 115 6% Maxwell (A). Maxwell (B). May Dept Stores. Mcintyre Porcu Méxican Pete Miami Copper. Middle States Oil. ... Midvale Steel 3 3% }% (Minn&StL (n)... 10 10% 10 10% MinnStP&SSM.. 60% 60% 0% 603 MOK&Twi.. u% 13 1% 13 MoK&Tpfwi 3% 3¢ WK Mo Pacific. n% N% MW Mo Pacific pf. 5 B Bt Montgomery Ward. 17% 1% 16% 16% Mullirs Bod. Natl Biscuit Natl Biscult pf. Natl Cloak & Suit. Natl Conduit. Nevada Copper. New Or Tex & M. N Y Central N Y Chi &S N Y Dock. N Y Dock pf 3 NYNH&Harttd. . N YO & West.. Norfolk Southern Norfolk & Westrn North American. Northern Pacific. o Nova Scotia Steel 24 Nunnally Co....... 10% Ohio Body & Blow.. 12% 12% 12 12% Ontario Silver. . % 8% 8% 84 Orpheum Circuit. 18% 19% Otis Elevator uT%h 102% Otis Steel. . 12 12 Owens Bottle. n% % Pac Development.., 9% 9% 9% 9% PacGas& Elec.... 6% 6% 6% 6 0% 9% 50% 55% 5% E5% ©% 8% 0% Parish&Bingham.. 4 14 1 1 Pennsylvania...... 38% 39 38% 19 PennSeabd Steel... 8 8 % 7% People’s Gas. Pere Marquette. Pere Marq pf. Phila Company. Phillips Pete. Plerce Oll. Plerce OIl pf. .. Pitts Coal. . Pitts & W Va. w n o= Pitts & W Va pf 9% W% 1% Pond Creek Coal... 18% 8% 18 18 PressedStiCarpf.. 2 92 2 ® Producers & Ref... 26% 28% 264 26% PublicServof NJ.. m} 8% 8% 84 Pullman Co. . 123% 128% 122 18 Punta Alegre 0% 0% 0% 0% ¢ | Pure OI1 20% 0% 29% 0% Pure O 8% 0K W% N W% Rallway Steel Spr.. 96% %% 9% 9%% RayconConw....xm % M% % Reading. ... U% TR W Reading 1st pf. a 6 a Reading 2d pf.. “© 6 8 Remington Typr. B B% B4 Replogle Steel. Royal Dutch. St Joseph Lead 1% St L& San Fran. .. 28% 2% e% 4 % n% 18 M 9% Shell Trad & Trans. fi* Sinclair Oil. . 40% 1% 4% 2% Pay- able. Am. lee Co. @ Bt $LO0. AP T ABR S Am. Ice Co., q., $LT5......Apr. 7 Apr. 25 Am. Shipbldg. £o., ex 20%..Apr. 10 Apr. 24 Am. Snipbaildt u. $1Y5..Apr. 10 Apr. 24 Am. nlpbl‘ Co. Apr. 24 147 54 y May 1 May 1 5 40c. Apr. 1 Smeltin 'lfllsznl, A 5 ng, q., p \pr. Coasolida > v100ADr 15 - May 15 THE - EVENING ~ STAR, - STOCKS MOVE UP ON ACTIVE BUYING Better Rail Earnings and Lower Money Are Help- ful Factors. BY STUART P. WEST. NEW YORK, March 29.—The main considerations in the financial situa- tion today were’the continuing ease in money rates, the extraordinary de- gree of improvement depicted in the February railway statements and the confirmation in the weekly steel trade | reviews of the marked gain in that quarter which had been set forth in a mass of unofficial advices. ‘The faot that the rebound n call money quotations had been checked and that the renewal charge had slid back again a trifle, from 4% to 4% per cent, gave impetus to the demand | for Investment securities. . Liberty bonds went higher, and so! did the general average of corpora- | | tion Issues. The disclosure of the rallway tonnage and of the very re- markable operating results for last month was evidently sinking in llld’ the effect was apparent in the very general rise In raillway bonds and the conspicuous strength in many of the rail stocks. Coal Shares Strong. Nobody at all well informed about; the practical workings of the street has ever taken the coal strike as a bear argument. It had absolutely nothing to do with the reaction in the market last Saturday and the fol- lowing Monday. But it there had been any lingering doubt on the matter, been set at rest today When the coal shares—that is, the stocks’of com- panies which derive their principal revenue from the transportation of coal—not only did not weaken, but were among the strongest features in the trading. Royal Datch. Royal Dutch stood out prominently among the ofl stocks, getting through its recent high limit. Those who look for another upturn in the oil trade in the near future, based upon the seasonal increase in the demand for- gasoline and also upon the larger use of fuel oll with the advent of the coal strike, are optimistic regard- ing the oil shares, always excepting those which are too much involved with _the Mexican uncertainties. Royal Dutch has some Mexican inter- ests, but they are slight in com- parison with its possessions in other _parts of the world. Allix-Chalmers. The salient fact in Chalmers situation, current reports show, is not the earnings statement for 1921, to be published within ten days, but the remarkable excess of present bookings over billings. This balance in favor of new busine: obtained for the last five months, and it has been estimated that two and a halt times more business is being se- cured now than last August, when bookings were at rock bottom. Steel Business Good. It has been stated in private re- ports for some days that the steel mills are more vigorously engaged than at any time in two years. This statement is now confirmed by the trade journals, which say that book- Ings are the largest since the summer of One of these periodicals, which was decidedly skeptical a fortnight ago the Allis- about the higher price schedules in- ; stituted by independent com: panies, now concedes that the increas in new orders following this action has been a surprise to hoth producers and consumers.’ It is the old story of buyers, their stocks run down low, holding off too long, and then rush: | ing in as they must have the goods. Rails Are Firm. As a group the railroad shares did better than the industrials in the day’s market. In the latter profit- 78% 73% | taking made itself felt, but without diminishing the strong undercurrent which - distinguished the list as a WASHINGTON, D.--C., increasing | it must have | has | g LIBERTY BOND PRICES FOR §100 BONDS' TODAY « 30044 Victory 4% . .$101.30 NO COMMISSIONS CHARGED. Bonds Bought in All Denominatioas. LlBERTV BO D EXCHANGE St. N.W. -.m. u 5 p.m. EQUITABLE Co-Operative Building Association Organized 1879 : 424 "EA¥ COMPLETED Assets .$4,365,306.73 Surplus .. .$1,111,632.98 1 WEDNESDAY, -MARCH . 29, .1922 2 ‘FINA,NCIAL‘ RCH .29, .1922....~ -~~~ FINANCIAL. €23 ‘Money to Loan' |, $5%Lits Policy, sts Estsl WEEROY Gorr, JSnsmranes Advis Al by Room 610, Wocdward beliding. M. 340. l-nlnlvlmmotmntn:-l-un INVES .Your Money in Our Safe First Trust Notes No investor has ever lost a dollar of princi- 7 ) jusion. ‘ash. L. & Trust 9o and ¥ a.w ]oseph I ‘Wel]cr.,,,. Your First Consideration and Ours pal or interest. Secured by high-class im- / o proved real estate. We collect and remit Your first consideration is to protect the money interest the day it is due, and handle all details. Consuit Our Lo you have worked hard for. Omfimconudmmuwpmwctout record of no loss to any investor in 49 years. In protecting your money we are protecting our SYSTEMATIC SAVING —a little saved each pay day ] will make life worth while when you are no longer able to .work. i Subseriptions for the i 82d Issue of Stock . Being Recelved Shares, $2.50 Per Month 4 Per Cent Interest ill EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE. Seey. — Life Insurance a Profession ! The Carnegie Institute Hi estublished & school of life § ce to which most companies ndiog their men. vhat is conceded to be. the best courte Lo be had {oday i offered by the || CONNECTICUT MUTUAL LIFE INS. Co., | e company that has returned to its policsholders more money than it has Teceived from them. E. D. Sampson, General Agent 1123 Woodward Bullding record, so that your first consideration and ours are the same: absolute safety, with prompt payment of interest and principal in cash. Our 77 First Mortgage Investments are secured by improved, income-produding business property in the heart of Washington. Write for full snformation Our First Mortgzge Notes on improved Washington real estate are investments which do not appeal to the latent de- sire for chance-taking. They are free from continual varia- tions in value. Their appeal is pre-eminently to those whose first consideration is safety of NO LOSS TO ANY INVESTOR IN 49 YEARS principal and interest. ke EHSMITH ©MPANY: Sounded 1873 FIRST MORTGAGE INVESTMENTS 1414 EYE STREET, N. W. These Nates are obtainable in_denominations of $100 and upwurd. ‘Swartzell, Rheem & Heme Co. 727 15th Sh-eet N.w. Washington, D. C. The Nation's Home Town 53 Yoars Without Loss to an Investor OFFICE ROOMS FOR RENT International Building FORMERLY INTERSTATE BLDG. 1319-1321 F St. N.W. A Few Very Desirable Offices Left Reasonable Rents McKeever & Goss Rental A; 1405 Eye St. Mnm 4752 AM giving my personal at- tention to the placing of business insurance. You shou!d be interested. Careful assistance will save you money. Union Central Life Insurance Company It Costs Less—Why Pay More? E. S. Brashears, Genl. Agt. 710 14th St. N.W. Organized 1867 Assets, $160,000.000 - “To the” {] “Conservative Investors” In the many years of our investing not & client has ever lost as much a8 a single pemny in elther principal or interest. Buch is the protection. service and attention given our investors in 17 First Mortgage Notes The only absolutely safe form of se- curities yielding the maximum rate of interest. 'l Notes from $250.00 up to $5,000.00 NOW ON HAND. Chas. D. Sager 923 Fifteenth St. N.W. FOR SALE 500 DOLLARS AND UPWARDS 1207 Gonnéclevut %}mf Loan Dept.—Main 36. ter of a Century RENTS Ready to Grow USINESS is coming back—and yours along with it. As better times develop, a depend- able, helpful banking connection assumes an im- portance that cannot be overestimated. The merchant, manufacturer, realtor who has established relationship with this bank, finds not ‘only complete facilities, trained organization and thorough familiarity with the business needs of the District, but finds also careful consideration of his plans and the spirit of cordtal co-operation in his interests. This bank always endeavors to work with as well as for its customers. -You are invited to bring vour business here. (. APITAL AND SURPLUS $5,400,000 Safety Deposit Boxes at Low Yearly Rentals 3% on savines MERICAN SECURIT ° AND TRUST COMPANY 15th and Penna. Ave. HOME SAVINGS BRANCHES 7th and Mass. Ave. 8thand H Sts. N.E 436 7th St. SW. ~JLet us manage B.F.SAUL CO. vour Rental Prop- erty. Over a Quar- 1412 Eye St. NW. Main 2100 A Great Organization - Built on Service * When an institution devoted to public service grows throughout the Yens through the loyalty of its clientele, until it attains un- questioned indenhnp inits field, you ‘will find integrity to be its foundation and its superstructure intelligent service. A wise choice of a broker, need- less to say, is the first duty of one who is entering the stock market. And it is a matter of great satis- faction to us that about 40 per cent of our new clients each year are introduced to us by old cus- tomers who thus give their vol- untary endorsement of the service they have received. New accounts invited T F. D.KINNALY 4= CO INVESTMENT SECURITIES 160 Pearl St'-NewYork, Cor. Wall and Pear} Stxest NATIONS OF Importance of Charter Provisions Did you know - that twenty years ago the control -of the Northern Pacific Railroad was secured by a group of financiers who envoked an obscure clause in the Charter relating to the retirement of preferred stock? You -should know every detail of charter provisions relating to your rights as a-stockholder and every detail of the lien back of your bonds. This Company supplies its clients’ with all details and copies of all charter provisions relating ‘to rights of stockholders. The R. L. Dollings Company “Builders of Business’ 728 15th St. N.W., Washington, D. C. F Raaal OIS AAA EA I o= llns ." i ol ) W l