Evening Star Newspaper, August 2, 1922, Page 25

Ey ) r FINANCIAL. CHICAGO BUSINESS NERVOUS POTOMAG S REACH NEW HICH AT 106 Railway Common Strong at 58—Movement in Bonds. Personal Mention. BY I A. FLEMING. There were two prominent fea- tures to today’s business on the local stock market. one the fact that votwmac Electric refunding and im- yrovement is made a new high at 108. There has been much comment on the board as to the possibility of this price being reached, and when the sales were made $5.500 at 108, a pre- alction was realized that has been many times doubted. The street has come to the con- clusion that the action of soma in- 1erest in “feeling” as to the willing- of the committee in cherg~ to 500 shares of Railway s simply propaganda work intended to help along the bull movement in the stock. Despite this, however, there seems 10 be well grounded bellef also that the market can hold its own, bld cr 10 bid. The common shares sold at and there seemed to be no pres- ire to lquidate. The preferred sold sparingly at 78, Washington Gas does not move with the rest the markct, seem!ngty being pegged at 55. _Lanston was moderately active at “Cdpital Traction firm at 100%. In the bond section, aside from the on in the Potomac 7s, the general the same company were firm at and. Rallway debenture 6s at 100 993, Movement in Bonds. no time during the preceding of the present century, beginning A. D. 1900. has there been any- thing like the demand for bonds that has develoned with each month during the current year. This may be enlarged upon, as, indeed, at no time In the record of the bond «market has there been anything like the volume of business. Back {n 1897, the largest month's rec- ord was made in August, $71.962,000, Teferring, of course. to the record on the New York Stock Exchange, where the great bulk of the recorded sales are made. Other exchanges add to the to- A tal and the sales of bond houses to banks and investors account for mno small amount of financing annually, this In turn being followed by build- ing and other bonds tors, But the criterlon of the movement, which Invariably follows an easy money market. must be the transactions on the 1ge, with its enormous the leading and minor rail e as well as utiilty Issues. At $100,000.000 Mark. dircet to Inves- in December. 1918, the volume of s increased $129,600,800, but fin one other month in that year d’they reach the $100,000,000 mar In 1903, 372,509,000 was the max mum. and with the closing months of 1804, $212.000,000 was reached for the first time. ~ The next decade was one of recov- ery from the panic of 1903, and bond eales were light, as money found full employment elsewhere. This brings the record to 1914, and the outbreak of the war. The next three years were slow from an investment standpoint, and then transactions in liberty {ssues began to count as an fmportant fac- or in the market, and wi - 195.000 libertien €0l in " December of that year the total for the month made the record of $361,170,000. . Liberties a Factor. n December, 1919, a new was made. liberties $604,100.000, and & total of $661,930.000, which still ;:nds as tae record monthly busi- ; But sal {n all the years the record of th s of bonds other than Libertys omever passed $181.34.- X e month, the mark of November, 1921, until January this Year, $191,216.000; February, $187.368,- 000; March, $237.852,000, and the Apr‘ll ;ntnrd of $264,341,000—the record to ate The record on Libertles and Viet ¥ ory notes. was made | potes. e In December, 1919, The market for bonds, both Lib s and Victory notes and general |;:\l‘)e: has quieted down during May and June ‘and has been renewed during ulv. There 18 small question v bunkers have been the most serins competitors of investors for bonds They have been compelled 1» go Into the ‘market and buy and keen huye Ing bonds that they might get their| funds into employment. because of | the smallness of the commercial de- n Flotations for Six Moent! dering the future of the bond there does not seem to be reason why the strength and ! high prices should not continue. The market seems ready to absorb ofterings ax fast as they are brought out. the flotations for the firet eix mopths of 1922 amounting Yo $2,191. | 000,000, as compared with $1,605.00 000 for the corresponding montha of 1921. To this great total for the firat Balf of this year must be added $674.. | 000,000 of foreign securities, $713,000. 000 state and: municipul iasues, or 77.000,000 new financt .70 neing for six Of the new capital brought out in the last six months $360.000,000 rep- resented refunding operations. Personal Mention. { W. W. Spaid will be a guest at At- ty_for the next ten days. i Neuhouser of the National : left vesterday for| _ = NEW YORK DRY GOODS. NEW YORK. August 2 (Speclal).— | The market for cotton cloths main- | tained the slight gains recorded yes- | terday when the government cotton report was made public. but -while trading wee in greater volume, there Was no rush of buying orders. Fear : of the effect on consumer buying of | 2ny marked advances was a restrict- ing influence. Standard print cloths were in fair dcmand, however, and ! considerable buriness was done in shcetings. Cotton duck was firm and fine count goods were steady. Sateens, drilis and twills were rather dull The improved trend in the market for finiched silk goods and the in | per cent larger than they were at | this time a year ago. ! ahd cast iron pipe are in keen de- fon the market, but a fair amount of { wool is being sold each day. OVE BY C G. MARSHALL. Special Dispatch to The;Star, CHICAGO, August 2.—Shop-by-proxy is the slogan which is being sounded broadcast by the big retail stores here this week In an effort, backed by heavy newspaper advertising, to in- duce their customers, home-bound by the street car strike, to order by tele- phone, It is feared that the strike, coming as It has in the midst of the midsummer sales, will check abruptly the fairly good business the stores have. been enjoying if it continues many day: Hundreds of out-of-town buyers are here this week to attend the pageant of progress and the interstate mer- chants’ council, in which_ thirty-three states are represented. Purchases of merchandise for fall have been fairly large, although the volume of busi- ness hoped for has not developed as vet. The textile trades have been quiet for several weeks, but heavy buying Is forecast for the latter half of this month. Some good orders were taken during the convention of the Retailers’ Commercial Union for de- livery after September 1. Steel mills in this section are be- ginning to feel seriously the effect of the coal and rail strikes The lead. ing Interest has banked two furnaces at Gary and two at South Chicago. but the output of the leading inde- pendent is unchanged. Federal Report on Cotton Stimulating to Business BY L V. SHANNON, Special Correspondence of The St EW ORLEANS, August 2.—The government report on the condition of the cotton crop has had a stimu- lating effect on business as it has: given assurance to the south that th lanters will get an adequate price or all the cotton they can produce. As seen here, it is a serlous problem whether the south can produce all that is needed. Confidence In the| situation has been reflected principal- | ly in increased activity in building and in real estate sales. Houses for| about 1,600 families have been com-| pleted here so far this year and the! number of building permits just |-»] sued Indicates that there wili be no slackening of activity before winter. Architects now are working o specifications which will mean ex-! penditure of $15,000,000 in addition to the projects now under constru tion. Reconstruction of levees dam- aged by spring floods and work on the roads is giving employment to thousands in this territory The outlook for every crop grown in Louisiana is better than it was| a year ago. Rice has already begun to move and this is having & stimu- lating effect on buying in the coun- try sections and on wholesale tiafe! in_the cities. i The fruit situation has been im- proved by embargoes on the ship- ment of certain varieties which, how- ever now have been removed. The only line in which there is an over supply is peaches. Good Business for Retailers ! Except in Strike Region BY FRANK D. McLAIN. Staff Correspondent of The Star. PHILADELPHIA, August 2.—Paint manufacturers in this section have now caught up with demand, which has been exceptionally heavy all this year and orders are now being filled promptly. The trade expects a con- tinued good demand throughout the! year. Retail business is generally good In this district, except in the towns of the anthracite region, where the coal strike continues to have a depressing _effect. Wholesale and jobbing trade, however, is not up to normal volume. State authorities report §2,000 | workers unemployed In this section, but advertisements for help Indicate that no willing worker need be out of some kind of a job.. Department stores report a recov- ery in the demand for ribbons which they say fell off to a marked degree a result of the bobbed-hair craze and manufacturers of ribbons here ars increasing output. Makers of plumbing and heating | supplies renort that orders are 50 ! All kinds of brass and iron fittings and wrought mand and nearly all local mills mak ing auch products are running at ca- pacity. Notes on Commodities in the Business Centers Grain, FORT WORTH. August 2 (Spe- cial).—Barley and oats are showing up well, and the fodder grains are growing rapidly and will produce well. Automobiles. FRA SCO, August 2 (Spe- .—Automobile dealers report trade excellent. although there are p that_the peak of buying the cities has passed Business in the country districts, however. is picking up. Wool. . BOSTON. August 2 (Special).—After | slight r: ction the wool market has| turned lirm again. Dealings are on | scale than in.May and n the new clip was coming s Flour. KANSAS CITY, August 2 (Special). —Flour sales have increased marvel- | ously in this section, with the mills ! in the southwest operating at from 60 to per cent of capacity. De- mand, however, is not normal for this period of year. Shoen. ATLANTA, August 2 (Special).—A popular model combination golf and Sbort shoe for men I8 selling here as low as $5.00 a pair. B Hats. R THE STREET CAR STRIKE | “Shop by Proxy,” Slogan for the House-|}: holders—Wholesale Trade for Fall Fairly Large. | the first thi aging the cotton crop of the central north Texas section. Canned Geeods. SEATTLE. August 2 (Special).— | CTs This wection will record a heavy amount of fruit preserving this year. date there are 2,534 tons of alone in the food commission orage warehouse, which have been 'put Tuy in sugar. Last year the stock In storage was 1,800 tons. ¢ fruit will later be manufoctured into james and jellies. BISMA o RCK. N. D., August 2 (Spe- clal)—Operators In the l\"(;urth an:ll lignite coal flelds are calling for ad- ditlonal workmen as a result of rush orders. Mines are being’prepared to operate at capacity and operators ::tlln'll(e they can ship 100 cars dally North Dakota needs. CONNELLSVILLE, Pa., August 2 (Special). —While a number n’ inde- pendent producers”in the Connells ville fields h; 3350 1 ave agreed to a pric w- o! seiling hroughout. aiet scie. & Rennsylvania at $5.50 & ton " O BOSTON, August 2 (Special). price for spot delivery ofncinl :‘l'l;mll anything the dealers s ‘The ere is fit to Steel. DULUTH, Augus creased iron ore pri reflect- In the current trafc report of the Great Northern shows that loadings of more than this time I ore cars were 100 per cent greater:than nrs.!ey:lr.k Olre loadin; eeks in July t 28052 cars, compared with 10,673 ::;7 in the first three weeks of July, PITTSBURGH. August 2 ). —-Merchant bars are quo (SD;L;IHI $1. Piti &h and plates at $1.80 :90. Mill prices of $1.60 repre- sent distant and indefi ficasy men nite deliverle: to $17.50. Business Teples. ST. PAUL. August 2 (Specla Governors of the northwestern have protested to Washington a the diatribution of coal to Illinois and adjacent states, and assert that the industries of this section will los millions of dollars this winter unles coal priority is glven immed the head of the lake listelyite PETROGRAD, August 2 (Special).— A thousand German locomtives have been delivered for use on the Russian railroads and between eight and nine hundred Swedish engines have been recelved. This is rapidly causing im- provement in the traffic situation. BOSTON, August 2 (Special).—Tool and die makers, all-around machin- ists and machine specialists who ean set up their own machines and wire > workers are especially in demand in this district. Labor costs are incre: ing in the building trade and there is A shortage in some lines of skilled building artisans. PHILADELPHIA, August 2 (Spe- ¢ial).—One of the best indications of business progress here is the fact that the volume of mail has doubled | in this city in the last eight years. There also has been constant In crease in passengers carried on the street rallways and in the number of suburban pa roads and f suburbs, and the nearby cities In * district have had a healthy and stant growth. MILLION POUNDS SGC-_. South Carolina Tobacco Prices Range From 3 to 50 Cents. COLUMBIA, 8. C.. Aug. 2—The South ~ Carolina tobacco market opened yesterday with sales totaling nearly 1,000,000 pounds, prices rang- ing from 3 cents to 50 cents. Sales were largely confined to points where so-called independent warehouses are being operated. Prices Lake City averaged 21.33 cents per pound, the general Verage for the state’s markets being proximately 17 cents per pound, n ly double of four warehouses at Mullins saw the transfer of over 200,000 pounds for an average of 17 cents a pound. The - Tobaceo Growers' | Cocoperative Marketing Assoclation, controlling sixtyfive ' warehouses in the Caro- ilinas and Virginia tobacco belt, will not open its markets until later. REACH NEW LOW FIGURE. German Marks Slump and Other Foreign Exchanges Depressed. NEW YORK, August 2.—The attitude of Great Britain in regard to thg Inter- allied indebtedness had a depressing effect on foreign exchanges in the early dealings today. Sterling fell 1% cent and continentai rates generally 5 to 10 points. German marks slumped to a new low figure of 12% cents per 100. U. 8.-CANADA EXCHANGE RATE OTTAWA, Ont, Aug.. 2.—The rate of exchange in connection with ship- ments of freight between Canada and the United States from August 1 to August 14, inclusive, will be 11-16 of 1 per cent and the surcharge 1 per cent, it was announced today. 0 surcharge will be assessed on in- ternational passenger busine; Money to Loan Secured by first deed of trust on real estats. Prevailing interest and commission. Joseph 1. Weller{20 Wy Attention 1§ i Properties: Owners i3, Aiiiments If you want to buy, sell or rent Real Estate, think of NEW YORK, August 2 (Special, orease in production was manifest in the raw silk market although manufacturers werse est seekers for bargain prices. CUTS PRICE OF CRUDE OIL. TULSA. Okla. Auguet 2.—Th Prairie Oil and Gas Company today announced a further cut in the price of mid-continent crude, making the new prices of Oklahoma and nsas ©Oil $1.25, and that of North Central Texas, $1.50. PARIS BOURSE STEADY. PARIS. August 2.—Prices were steady on the bourse today. Three per ocent Tentes, 59 francs 75 centimes; exchange on London, 54 francs 81 centimes; § per cent loan, 76 francs 25 centimes. The dollar was quoted at 12 francs 32 cen- times. SETTLED BY COMPROMISE. TOLEDO, Ohlo, August 2.—Claims fnvolved In a sit recently flled by the Willys Corporation of New York against the Willys Overland Company of Toledo were settled in federal court Jesterday, when Judge Killits accept- ed a compromise offer of $750,000, which the Overland company will yay within one year. v BAR SILVER QUOTATIONS. NEW K, A 2 —] . bar silver, §8% In:r:;-nd.uugn Hat cleaning establishments in this vicinity have been overloaded with business in the last two weeks, and il hatters report corresponding ing off in the purchases of stra: hats. Many have made slashes in the prices of leghorns and panamas. Lumber. KANSAS CITY, August 2 (Special). —Lumber is one of the products of the southwest that has been affected 0 moderate degree by the rail strike. Business is light, with prices irregular. Quotations, however, still remain close to the peak of the year. Live Stock. ST. PAUL, August 2 (Special).—Live stock shipments handled in the South 8t. Paul yards during July approxi- mated ble th the same month last ye: Luserne county farm bureau. The early crop will be up to expectations, but the iate crop will be about 10 per cent of normal, due to the spring trosts. KANSAS CITY, August 2 —The Ozark peath crop is beginning to move to market and, like the berry crop, is a record-breaker. (Special). | ,000 cars. This is almost dou- | number of cattle received in | LANHAM & HILL 1400 H St. Main 366 OoN WITH THRE COMPANY ‘WE EARN % pany. INSURANCE COSTS Unlon Central. Wh Asaet; LESS Ia the { the state in addition to supplying | N Ing scrap Is quoted at $19) FUNDS LEFT —the highest interest rate of amy American Insurance Com- Grain, Produce and Live Stock GRAIN AND PROVISIONS. LOCAL WHOLESALE PRICES. ctly fresh, selected, can- BALTIMORE, August 3 (Special Egge—itri Potatoes, new barrel, 2. oo-;.'l?icNo Oled, per dosen, 3(a25; average receipts, J6ase; Doy flL southern, 22. i ( V6 poultry—Roosters, per Ib., 18; turkeys, 25; spring ohick- keats, young. o each, ed’ poultry—Fresh killed spring 3 ickens, per 1‘1:3' 27a30; h:nl. ;r ., b, a4 -1 g v 07 kentar e > ; kents, young, each 60. - e R o e lum, per Ib., n, o 7. Laml 2 3 Tb., *Sals; live fl"- e %0 hoice, per basket, 26a30. Toma~ packing - stock, 250, Apples, early varieties, barrel, 1.00a 2.50; bushel, 50a1.25; basket, 2 Blac) fes, quart, 16820. loupes, basket, 358! each; live hogs, per I Green fruits—Apples, new per bb! 130a8.00; por bu. basket, nearby, 50a . _California oranges, per crate, Q0a1 Box, . lemons, Raspbarries, 30040, %‘:uhu. per crate, 1,0082.50. " Cherries, per basket, 20a75. C*g'-lo‘um-. T6a3.25. ablox—Uotatoes, new, No. T 3 Breson oo, naw, B tuge, per crate, 50a75: w York, per ordte, 1.00a1.75." Romaine lettuce, 1.60. Cymblings, ‘per chate, 26a75. Onions, per basket. 75a1.75. ~Cabbage, new, per bl 1,00n1.25. ' Cucumbers, per box. .50." Eggplants, per crate, 2.50a3.50. Tqmatoes, o Nnumy. 50a1.50. ‘epper: 5021.00. pDs.nlnl%.h. per bbl., . Currants, und, 6a7. 16a20. Peaches, 26a75; crate, 1.25a2.25. Pin apples, crate, 2.50a4.50. Plums, basket, 40a65. Watermelons, each, 15a40. Selling Prices at 1 0'Clockg. Wheat—No. 1 red winter, spot, no Quotations; ‘No. 2 red winter, spot, 1.20%; No. 2 red winter, spot, ne 1.16 per bushel; No. 3, 1.05; August wheat, 1143 bid per bushel; Sep- tember, no bid. Sales—Bag lots of nearby, by sam- 55, 60, 75, 77, 80, 85, 90, berries, quart No. 2 red winter, DAIRY MARKETS. BALTIMORE, Md., August 2 (Spe- j clal).—Live poultry—Spring chickens, pound, 20a25; white leghorns, 18220 old he; 22a24; white leghorns, 18a 20: old roosters, 14; ducks, 16a20;i | spring ducks, 20a24; pigeons, pair, 25 Eggs (loss off)—Native and near- by firsts, dozen, 22: southern, 20a21. { Butter—Creamery, fancy, pound,| 36a38%: prints, 37a38; nearby cream ery, 34 ladles, 26a27; rolls, 24a26 storepacked, 24 dairy’ prints, 24a26; process butter, 31a32. CHICA . August 2 er; creamery extras, 33%; first nil; secon 28a281%; standards, 32% Egga—Unchanged; receipts, 13,222 cases, ¢ CHICAGO LIVE STOCK MARKET. CHICAGO, August 2. —Cattle—Re- ceipts, 10,000 head: market fairly ac- | tive: generally steady to strong on all killing classes; top matured beef steers, 10.6 linge, 10.50; bulk beef steers, 8.65a10.2 eef cows and heifers mostly 5. bulk can- ners and cotters, bulk bo- logna bulls, 4.25a4.40; veal calves mostly around 10.00; stockers and feeders steady. cipts, 16,000 head: lfght and light light butchers strong to 5 higher: others, weak to 10 lower; top, | 10.75: bulk, 0a10.70; smooth pack- ing sows mostly 8.00a8.40: bulk, 200 to 300 pound butchers, 9.60a10.70; pigs, & 60a10.00: m 5810.75; light king sows, smooth. ! , rough, 7. 0.50. No. 7 red winter, garlicky, 1.15; car lots, No. 5 red winter, gar- Hcky, 1.05. - Corn—Cob corn quoted 3.75 per bbl.. asked: contract corn, spot, 75% per bushei; No. pot, 77%; No. 4 corn, no quotations; track corn, yel- jlow, No. 2 or better, 791, per bushel. Sales—None. Oats—White, No. 2, 46% per bushe! No. 3 new, Rye—Nearby, bag lots, 90a1.05 per bushel; No. 2' western export, spot, 87% per bushel: No. 3. no quotation. Hay—Receipts, 6§ tons; range is 17.00 to 20.00 for new timothy and mixed hay; market firm; supply on hand ample for trade. Straw—No. 1 tangled rye, 15.00; No. 1 wheat, 11.50a12.00; No. 1 nominal, 12.00a13.00. CHICAGO, August 2—Wheat had an upward tendency In price during the early dealings today, scattered here and there, resulting from strength In quotations in Liverpool, and because of a let-up in hedging {pressure. Continued uncertainties re- | garding settlement of the rail and coal sirikes was also taken generally a bullish factor. Absence of any sign of important export busin however. operated as a check against decided upturns in price. The apen- | ing. which varied from % off to % advance, with September 106 to 106%, and December, 108% was fol- lowed by a moderate advance and then something of a reactio; { Slowness of cash demand bearish effect on the corn market. | After opéning unchanged to % lower, 3 September, 1% to 6 the ‘market | B Ceipte L1100 haad Slambs, showed but little power to rally. | Firong to shin, - topitnaiiyea Oats were firm with wheat open- | 12.75 to city butchers, 12.50 to pas Ing unchanged o % higher. Sep.|crs: cull natives large. 8.00a8.5 tomber. 33% to 3334, and jater show- | €2r1Y top westera lambs, 12.75, some ing but little Change. unsold: feeders. strong to highe Higher quotations on hogs gave a L. 67 pound. feeders Jate; Tuesda, lift to provisions. 5; sheep scarce toda Butter—High- 29%a YORK, August the local opening was sicady at,a spring ~__patents, decline of 32 points on August and spring clears. 5.76 straights, 7.2 There was local and Wall street bu: ing, but the demand was supplied by further scattered realizing and some southern selling. which sent prices hard winter Pork, articles 26. 5a Other December during the early trading, {or_about 25 to Private cables reported some selling in Liverpool on reports of showers in Texas, which, however, were not con- firmed by early weather advices pub- Lshed here. The deciine extended to 21.90 for October and 21.87 for December. or BUYS AT $20 A SHARE. :@eorge L. Burr Acquires Control | of Stutz Motor Car Company. NEW YORK, August 2.—The con- trolling interest inethe Stutz Motor Car Company was obtalned today by George L. Burr of the Guaranty Trust Com- pany when he bought 111,614% sharesday. at $20 a share at the auction of Allan' closing quotations and fully a cent a pound below the high price of yester- Offerings then became less active. n & Company’s collateral. The | . Ry total capitalization embraces 200,000 | SUGAR QUIET; FIRM. shares, and the stock was seliing at| ..o : . about $15 on the curb market when; NEW YORK, August 2—The raw Mr. Burr's $20 Bld was successful at . SUEar market was quiet early today | th with no sales reported. Cubas were auction fo dispose of collateral | : trall quoted at 3% cente cost and freight. R e e ea o S 14000 sae™ | equal to 5.38 for centrifugal. which recently failed for $14,000,000. Raw sugar futures were firmer on p— trade and commission house buying. BOSTON WOOL MARKET. ! Prices at midday were 4 to 7 points : g net higher. BOSTON. August 2 (Special).—The | "The demand for refined sugar was response to the worsted offeri has | light, and nrices were unchanged at {had a stabilizing effect on the wool | 6.90 to 7.00 cents for fine granuiated. | market. and Summer street prices | Second-hand sugar s still.available were very firm. Buying is still of{below refiners’ quotations. only moderate proportions, however, | futures nominal. as manufacturers are carefully de. . termining just what wools they will require before entering the market. |JULY CANAL TOLLS $1,084,000. The western shipments are arriving| PANA) ugust 2.—Tolls collected v the Panama canal authorities during in considerable bulk. Buying tor | | American account has been brisk in,.July totaled $1,094,000, surpassing all inthe’ fiscal the English marke her month: i i | | At Dupont Circle THE Dupont Bank of the Merchants Bank and Trust Company is not merely a branch with limited facilities. It is the Merchants Bank and Trust Company at Dupont Citcle. It offers a complete banking service—the same that is available at our main ‘office—to the many who find the uptown location more con- venient than the financial district. . - MERCHANTS BANK & TRUST CO. Capital and Surplus $1,250,000° 3 15TH& HSTRESTS N.W. DUPONT CIRCLE WHEAT— Open. High. Low Close |. COTTON MARKETS. Ioresy 100 1 W YORK, August 2.—Cotton % L12% 1a2 futures opened steady—October, 22.18 December. 221 nuary, = 22.04 ot March, 22.00; May, 21.90. 28 e The fallure of yesterday's govern- o S ment cotton crop report to further! 38y 33 \etimulafe demard in the Liverpool ‘: 358 I marke! was evidently a disappoint- 39 40 39 ment to yesterday's buyers here and soft winter!cf 2 to 17 points on other months. ! off to 22.03 for October and 22.00 for| 7 points nct lower. about 38 to 42 points below yesterday's | Refined i i ! FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF Proposition and an Opportunity . to Make Money Best References As to Integrity and Experience F. A. Johanknecht, 1700 First Ave., Birmingham, Policy, 'y of birth for ilustration. lished 11 Assets over 000.000, LE ROY GOFF, Insurance Adviser 500 DOLLARS ANE UPWARDS %{/a// .% .%}fler ¥ %, 1207 %nneoééa/ %zlm& FIRST TRUST NOTES Issued Under Our Supervision Are Ist. Permanently Safe, eliminating all worry. 2nd. Give Maximum Yield, better than other forms of equally safe investments. 3rd. Require Least Attention—we lcok after every detail for you. one of aur clients lost as much s & single penny in either prin- jpal or interest when investing In Our First Mortgage Notes Every loan placed is on & basia of our long-established policy of absolute safety. Write or call loan department for full information. Notes of $250 Up to $5,000 Now on Hand Chas. D. Sager ‘923 15th M. 36 Loaus and Investments. Let Us Have Your Reservation at Once Loan Department SHANNON - & LUCHS 713 14th Street Main 2345 We Offer for Investment || Real Estate Notes Ot respoasible makers secured by lst lien on_improved property. TU XYIELD o% AND 7%. PROMPT PAYMENT OF INTEREST GUARANTEED. Bank of Bethesda, Md. Phones: Cleveland 1919 and Bethesda 81. RENTS | i Let us manage { your Rental Prop- i erty. Over a Quar- | | ter of a Century Experience. B. F. SAUL CO. | 1412 Eye St. N.W. Main 2100 _ i EQUITABLE Co-Operative Building No loss to any investor in forty-nine years HE acid test of 49 years—nearly half a century of good times and bad—has been applied to our Safeguarded First Mortgage Investments. They have come through this test without ever causing any investor a dollar’s loss of principal or interest. Forty-nine ’ experience in the field of fimnymongngeywl;mpm in the National Capital has enabled us to develop a definite system of safeguards to protect investors against loss. Weare now offering, at 7%, several new issues secured by aj buildings in Washing- ton, D. C. How long 79 will be the pre- vailing rate on first mortgages in the National Capital it is impossible to say. * Write today for full information. Ch EHSMITH®, Gounded 873 FIRST MORTGAGE INVESTMENTS 1414-1416 EYE STREET, N. W. Organized 1879 424 YEAR COMPLETED $4,408,629.00 $1,144,464.89 il Gratifying Results From ! Systematic Savings Adopt the systematic savings plan of the Equitable. It has proven helpful 1o thousands and will help you. Subscriptions for the ! 83d Issue of Stock Bei { ill Shares, $2.50 Per Month ! EQUITABLE BUILDING ‘915 F St. NW. JONSX JOY ENSON. President FRANK P. REESIDE, Secy. : Recelved To Thrifty Managers of Money We offer a service based on safety as the first cssential. We add to safety an income of seven i‘,cr cent. annually. A stable securily market exists within our own clientele of over fifty thousand customers. T, =) A well balanced organization looks after every detail of securing, employing and conserving capital. Consistent. dividend paying records have been the result. You should have our representative give you the details. The R. L. Dollings Company “Builders of Business’’ 128 15th Street N.W. £ 57 i3 &S 3\ TN e g I e il \ ‘\ \.\ 3