Evening Star Newspaper, January 11, 1923, Page 31

* 1931 of $261,981.39. . previous year. - vice president; John H. Hanna, vice Oredita: 1 Ba FINA ———. DISTRICT'S BANKS & CANINDEOSTS Splendid Showing Revealed in Important Figures An- nounced Today. A compllation of all deposits on hand in- local national and savings banks and trust companies, as of De- cember 29, 1922, the date of the last call of the controlfer of the currency, -compared with conditions at the time of the previous call, September 15, 1922, showed a total galn of $1,028- 100.85, the figurés being $187.572,813.51 on September 15 and $188,600,313.96 on the day of the last call. The trust companfes, with a total «gain of $1,329.035.14, led in this re- spect, and while the savings banks showed a total loss of $422,806.01, and the national banks the comparatively small increase of $121.871.52 over the last call, consideration must be given the large amounts withdrawn for CIAL." NEW YORK CURB THE -EVENING ' STAR, WASHINGTON, D. C., THURSDAY, JANUARY 11, 1923. Received by Private Wire Direct to The Star Office. BY WILLIAM F. NEFFERNAN. NEW YORK, January 11.—Today's market on ,the curb exchange was generally strong. Iaterest was mot, however, very well distributed. At- tention centered upon some of the oil shares and & variety of misceilaneous speclalties. These were pushed ahead, while other parts of the last were neglected. Recent speciaities among the motor group were again in demand and activity here was larger than at any time since the upward movement in these stdcks began. Durant Makes New High. Durant of Delaware ran up to, a new ‘' high record, gaining 2 points, while the Indiana stock followed closely. Special stry th developed in Hayes Wheel, and this stock sharply to @ new high on r earnings of the company are steadily transterred to the New York Stock Exchange in the neur future, The success which the Stutz new six-cylinder closed models are meet- ing was the basis for operations for the rise in this stock. .Peerless Mo- tor and Gardmer Motor were other: that were active, but price change: were unimportant. Coal shares were taken in hand and substantial gains were recorded in such stocks as Gien Alden, Lehigh Valley Coal and Acme Coal. Schuite Stores Report Out. THe recent upward movement in Schulte Retail Stores was accounted for by the publication today of sales figures for the month of Decsmber aggregating §3,873,785, compared with $2,221,425 in December, 1921. Amal gamated Leather common and pr ferred continued their upward mov: ment, the preferred reaching a new top, up over 5 points, and the com- mon crossing 17. Youngstown Sheet and Tube held around its previous lncreasing and that the stock will bei close. NEW YORK, January Follow- ing is a list of today's highest. lowest and closing prices fof the most active bonds and stocks dealt in on the New York Curb Market: Sales in BONDS, thousands. Alliea_Packers 6s. Alum 7s *25. 1 Amer Roll 2 Amer Gas & & Amer Repub Cor ob Amer T & T 6 '24. 29, 1axes and Christmas shopping. A complete table of figures showing conditions in all banks as of the two| 1 last calls. compiled by Audley Savage of the National Savings and Trust Company, appears in The Star today Washington Loan and Trust. e el According to the thirty-third annual 72 Armour & Co s report submitted by John B. Larner,| 44 Armour of Del 5 president, at the directors’ nreeting of | 403 Reil Tel of Pa o the Washington Loan and Trust Com-| § Reth Steel 79723 pany vesterday, the company earned oston & Maine 8 23.06 per cent during the year 1922, ‘anadinn Pacific 65 This hlgh rate represents cash earn- 8 Cent Steel Ba.. ings of §290,675.45, and compates with earnings of 29.01 per cent in 1821, 27.8 pec cent in 1920, 19.1' per cent in 1918, 1.4 per cent In 1918 and 16.2 per cent during the previous year. Total deposits during the year showed = in of $753,651, while resources also éd to the extent of $832,158, bring- ing the total of this item to $14.443,- 243.18. Gross earnings ageregated $870,- | 11 Duniop T B 7 885.50, with gross expenses totaling $579,- | 10 Gair, Robt Ts... $96.14. " Total business transacted dur-| ¢}§ Gthwd Tronk 83 ing the year amounted to $93,183.1T8.61, | 10 Jirer B o ke o of an increase of $5,504,610.08 over the 1 Kam Cy Po Tt Surplus’ and undivided | 3 Remnecott Cop profits at the close of business on De- 8 Laclede Gas 7 1922, were stated as being| 1 Louin G & E with $1,668,- at the clo: 3 Manitoba Prod s 10 Morris & Co Tis vious year. An average dally balance of | 2 Nat Cloak & Suit 8. 32.349.716.65 was maintained by the sav- at Acme i "‘fl department during the year. e SR rectors of the institution expressed | San o Y themselves us highly gratified at the progress made during the year, as shown by the above figures, which show a continuance of the steady growth that has marked the institution’s history, and an improvement in practically every item of the report. ; Bus, Company's Income. / Net corporate {ncome of the Wash- ington Rapid Transit Company last vear amounted to §7,305. For the four months of June, July, August and September the company reported net losses totaling $9,168, which cut heav- ily into the net for the year. Decem- ber was one of the most ‘profitable months of the year for the company. Net corporate income was 33,330 Total operating revenues during the month were $29,129, while operating | expenses were $25,541. The vear just ended is the first full year the com- Pany has been in operation. | Trading in Potomac Electric con- solidated 55 featured the local se- curity market vesterday. A total of $20,000 face value of these bonds sold at 36%. Sixty shares of Washington Raflway preferred sold at 75%. Wash- ington Market Company stock sold at GAPITAL TRAGTION ELECTS OFFIGERS Annual Report Shows Profit -and Loss Balance of $264,- 981.39 Over 1921. Anaconda 6s 1 Copper Export & ‘24 1 Copper Export 8s '35 1 Deere & Co § FOREIGN 18 Argentina 7s '28. 100 Rremen 4w, . J 12 King of Nether 6a.. 13 Ren of Peru 8. 10 Russian G 38 Rywiss Govt 10% 1087 Washingtgn Stock Exchange BALES. ington Gan 56°-$300 at 834 shingien Rwy: & Elec. 45—$1,000 at 73 FTER CALL. 3531000 at 97%. ; $1.000 2t 9713, $1000 at 917" 31000 at 97 i Georgetown Gan' Sa—$1.000 &t 90_$300 at 80, Wantington Rivy. & Hiec. ph o8 at T8, Wardman Park Hotel 541,000 at 101 American Security and Trost Co.—2 at 28215, Wathington Gas' Light—10 at G8%, 10 &t at 9. Cons. Money—Call loans, 5 and 8 per cent. BONDS Bid and Asked Prices. PUBLIO UTILITY. American Tel. & Teiga. 4. American Tel. & Teiga. 43 Am. Tel. & Tel. ctl. tr. Bu. Amer. Tel. & Tél. cony. a.. Anacostia and Potomac Ge.. Anacostia and Potomuc Guar. 5. Chesapeake & Potomac Tel. Ss. & P. Telephone of Va. Gs. Ca Traction R.-R. bs. Clty & Suburban Georgetown Gas 1st 5. Metropolitan K. R. 5s. Potomac Fiec. 18t 5s. Totomac Elec. cons. Fotomac Elec, deb. 8s. Fotomae Klee. Pow. g. m. 6s. Poto. Elec. Pow. g.'m. & ret. 7s. Wash., Alex. & Mt. Ver. os Wash Alex. & Mt. Ver. ct Wash., Bals Pl The Capital Traction Company, at its annual stockholdcrs’ meeting to- day, re-elected its old board of di- Tectors to serve for the ensujng year. It s composed of George E. Hamil- ton, E. J. Stellwagen, John §. Lar- combe, David S. Carll, Benjamin W. Guy, John M. Perry and John H. Hanna Organization followed immediately and the company’'s old officers were re-elected, and include: George E. Hamiiton, president; David S, Carll, $833322525535838 | RE: MISCELLANEOUS, Paper Mfg. 6s. iggs Realty 3s (long) Riggs Realty 5s (short). Becurity Storage & Safe Dep. 6s. Wash. Mkt. Cold Storage Wardman Park 6s.. STOCKS PUBLIC UTILITY. & Telga.. president; Henry D. Crampton, sec- retary-treasurer; J. E. Heberle, as- sistant secretary, and C. B. Koontz,| assistant treasurer. { A summary of operations for the * ending December 31, 1922, was read with the company's annual re- port, and showed a dropping off in to- tal revenue from transportation of 3806,673.28 over the same period in 1921, there being a decrease in pas- senger revenue of $506,683.28 and a loss in special car service of $80. Operating Revenue Drops. ‘There was also a decrease in rev. enue from operation other than tran. portation of $483.08, as compared with 1931, which with revenue for same during 1922, made the total railway operating revenue, $4,994,043.95, or a total decrease over 1921 of $507,156.36. | The company's operating expenses 979 per cent of gross revenue), which totaled $3157,211.14, also | showed a decrease over 1921 of $53,- $29.75, leaving net operating revenue of $1,826,832.85, or a total decrease for same over 1921 of $453,626.61. Deduction of taxes assignable to rallway operation of $436,093.45, which was a decrease of $137,426.19, showed the company's operating income to be' $1,890.739.45, or a decrease over 1921 of $316,200.42, The non-operating income of the company for 1922 was $34.308.24, which was an increase over 1921 of $16,494.84, Which left & gross income for 1922 of $1,425,645.79, or a decrease over 1921 of §299,705.58. The company’s net income for 1922 after total deductions from grass in- come had been made amounted to 31,104,991.39, or a decrease over 1921 of $306,711.89, the total deductions of $330,654.40 being an increase over the same perlod in 1921 of $7,006.31. Columbia Graphophone com . The company's profit and 10ss bal- | Columbla Graphophone pfd. ance at the end of the year just closed ;‘}:::-:;"- ;rr;‘n;::’rr: Stor was $1354.567.24, Or an Increase over | Merenthaler Linotype. 0ld Dutch Market ptd. Laaston Monotype. American Tel orfolk & Wash. 'Steamboat.. Fash Ry, & Ele ash. Riwy. & Elee. pfd. Terminal Taxi com. Termioal Taxi pfd. ATIONAL BANK. Washington TRUST COMPANY. American Security & Tru Continental Trust.. i3 1 SAVINGS BAN Commerce and Savings. East Washington Becurlty Savings Seventh Btreet, United States ‘Washington Mechanic FIRE INSURANCE. - a8 slze Americsn . Corcoran Firemen's " National Union. 5 TITLE INSURANGE: Columbia_Title....... Real Estate Titie. MISCELLANEOUS, Summary of Dperations. Following fs .the summary of op- erations in full for the year ending December 31. 192 Pamenger revenue . Special car revenue . Wotal revenue from transportatien Revesue from operation other than Ratiway operatin Operating expenses ( Net operating revenue ....... ‘Tazes assignable to rallway operaf Operating incoms ...... os 390,789 . Nom-operating income E g revenue ... .970% of gross revenue) Gross income . as Deductjons from gross income Intarest on funded debt terest on unfun el B £ Miscellaneous rents 306 . > Rent for leased roa ;i Miscellaneous deblts Total deductions ... Net income .. PROFIT AND TOSS STATEMBRT. beginuing of year $1,080,585.85 o Bt at”. 1,104,901.39 Debits: Dividends . Miscellaneous - $2,104,5 - Oredit dalance at close of nlr...... ceennanes $1,004.567.2¢ *Denotes decrease. b Salen STANDARD OIL ISSUES. , in units. 100 Anglo-Am Ol 100 Atlantic Lobos 350 Bockeye P L . & Coutinental Oil . 35 Crescent P L . 10 Cumberland P L.. 1700 Interaa Pét Co Lid 240 Magnolia Pet . 100 Olio 011 new . 50 Prairie Ol & 380 Prairie P L 100 Solar Rufin .. South Penn 01 180 Southern P L 10200 Stand Oil Tnd ex div 800 Stand OU Kea new 3000 8t Ol Ky new ex di 13 Stand Of) Neb ..... 205 2100 Stand 01l N Y new 10 8 0 Ohlo..... 30 8 W Pen; 6800 Vacuum Sales. INDEP] in hundreds. 5 Arka 3 Cardin 1 Cit Serv ptd 1 Cit Serv [ 70 Englneers' Pet . 455 Federal Ot 32 Fennland 011 2 Gillilawd Ol ek Ol I of Pa 10 Marncaibo 01l et Ot Omar OF & G 11 Pennock 01l 80 Penn Beaver Ofl 1 Ryan Con ... 3 Ralt Creek new 12 Sapuipa Refin 46 8 25 Rou States Ol . 89 Texon OIl & Land.. . 1 Thial Osage OI .. 1 Turman Ol 1 Venturs Con . 27 Wilcox Ol & 10 “¥"on . 1 3% Acme Coal . 10 Acme Pack . et o her prd.. & Flec pld Tene pfd.. 4 Armour of Del. pfd 1 Borden & Oo . 1 Rrierhill Steei 15 Brit-Am Tob Co com 3 Brit-Am Tob Co reg. 1 Bkisn City R B 10 Ruddy Ruds. 1 Camphell Sou 1 Car Light 5 Cent Terens. 2 Century Rib Mil 8 Chicago Nippie..... 9 Cox Cash Stores 15 Dubllier ¢ & Radio. 108 Durant Motor. .. 45 Durant Mot of Tnd. 171 Flelschmann @ Gardner Mot 3 Gillette 8 R.. 33 Glen Alden Coal.. 1 Hanna W A pf. 31 Hayes Wheel.... .. 19 Heyden Chemicai 4 Indus Fiber Corp. 14 Int Cont'l Rubde: 1 Internationa], Shoe 6 Mercer Mot ...... 3 Mer Mot vot cf 4 Mesabl Iron T. £ et Sup vt Del. ..o 2¢ New Fict Pub Co. 1N Y Tel Coptd... 5 Oselda Ci Somvg 7 Peerless 8 Philip Morrls 1 Patten Trpe. 2 Radlo Corp. 8 Radio Corp pfd 2 Reo Mot.... 1 Schulte Stores. 8080 C & I.... 94 Stutz Motor . 2 Technical Prod 3 Timken Axle new. 30 Triangle Film . w ted Retail Candy § Lt & Heat ... Willys Corp Ist pi Winthers Motor 2 Youngstown 8 & T Youngst 8 & T pfd 107% MINING. 1 Alaska Brit-Colo 200 Arix Globe Cop .. 170 Big Ledge .. 430 Boston & Mo S Calaveras Corp 20 Canada Cop 18 Canario Copper . 120 Candelaria Min . 80 Columbla Emera} @ Continental Mines 1 Cons Cop M tem 21 Cortes Silver . 19 Divide Extension .. . 3 Dolores Espe 35 Dryden Gold 40 El Salvador . i 894 Fortuna Mines. 10 Goldfield Cons, BRE23hE3RR 210 Hardshell Min.. 10 Harmill Divide. 37 Hill Top Nevad 2 Hollinger 2 Hecla Mi 5% R ORER BEH. BB 220l 165 Ohlo_Copper. i 28 Ray Hercules inc.. 140 Richmond Copper. .. 20 Rochester Silver... 110 Bandstorm Kendall. .| 160 Bil Mines of Am 10 8il K D M reog. Simon Bilver. Spéarhead Go 20 Stewart Mines. & Buccess Mines. 23 Tech Hughes. 8 Tono Relmont. 9 Toso Casy 10 Tonopah Div 14 Tonopah Ext 17 Tonopah Mia 4 Tuolumne . 72 United Enstern 80 U 8 Continental 3 Unity Gold ....... 21 West End Consol » 10 West Utah ....... .20 2 Yukon Geld ‘.. 0l 80 Yukon Alaska'T¢ of 12 CRUDE OIL PRODUCTION R F L] & L3 BLbuuBh.2E8882 053238 £ 3 i # ! o L REELE.E, wimis| SHOWS SLIGHT ADVANCE By the Associated Press. ‘NEW YORK, January 11.—The daily average gross crude oil pro- duction of the United States increased 11,300 barrels for the week ended! January 6, totaling 1,752,500 barrels, as compared with 1,741,200 barrels for the preceding week, according to the weekly summary of the American Pe- roleum Institute. The daily average roduction east of the Rocky moun- tains was 1,237,500 barrels, as com- pared with 1,231,000 barreis, an-in- creage_ of 6,300 barrels. California production - was- §15,000° barrels, as compared with 510,000 barrels, an in. cremse of 5,000 barrels. SHORT-TERM skCURITIES. | MARKET || iy Aluminum Co. of Amer. Zluminum Co. of Amer. Ts American Cotton Oil 8s 1924. American r 68 1987 American Tel. & Tel. On American Tel. & Tel. 6s Armour & Co. 7s_1030:. Bethien 3 Chnadian Faciae s oot C. & 8t L. 06 i D Font Tigw 11 Goodyear 1 Bntl'l v Vi II’.'I Hllb“u‘flll.l Kal " Ciy R. It 8t. Paul Union Sears. Rocbuck & Siandurd OR of Qang. 7 Tidewater Ol sy 160 Union Tank Car s 1950, Vacuums OU Ts 1936. Western Unfon 63u 1088.. 1y Westinghouse 5. Ts 1031, 1074 1083 | Copper Export. "A™ g 194, calied for pay- ment at 101, Febeuary 15, Copper Export “A' e 1925, called for pay- ment az 102, Fedruary 15, REPORT (II’DTB'E‘CONDITLON BANKING TRUST & MORTGAGE CO. | At Washington, in the District of bia, the cios of busineas December 25, To2” °* RESOURCES. 1. & Loans and disconnts, ineluding redis- ute accept. s of other ks, and foreign bills of exchange or drafts, “sold with indorsement of this bank (except thowe showa 1n b and c).$357,481.23 Total loans ........... E . Overdrafts, unsecured, $208.51 U. 8. government owned . 5 . Other bonds, ete. .. 5 5 Furnitore “and * fixtures, 33.41; leasehald, $12.729. . Cashi in’ vault and’ amount due from national banks . Amount due from state banks Dbankers and trust compani in the United S'ates (othe ocks CITIES SERVICE SECURITIES Bought, Sold, Quoted THOS. W. BRAHANY & C0. . Invéstment Securities 510-11 Evans Building Washingtcn, D. C. Main “BeforeYon Invest. » INVESTIGA' .Have you ever won- dered why some business enterprises succeed bet- ter than others? Have you noticed that the suc- ceseful business is usually conducted along “hu- man” ].inFaf That is the secret . of the grippin, success of the = If you have money to invest, we can safely it on gilt-edge first B. C. Mortgages. Our record of 30 your pro ous treatment. Percy H. Russell Co. s.:ccy.. 15th & “K” Sts. “When Seeking” Investments "Consider First—Safety. Second—Your rate of return. IF —this advice were consistently adhered to and investors con- fined themselves to such staple than Incluled in item 10) . Checks on other lanks in the same clity “or town as repott- ing bank ........ % Total of ifem 13 Cheris o Tasin” OF iy ar town o repertin bank and other cash items . ! Padivided profits ...37,434.07 taxes paid . Amount ~ due \ to h bankers and frust companies in the Unlted States ikn " countries (other nciuded In item 232)... Certifisd cheeks o 34, Cashier's checks ou Total of ilems 22, aod 24 . oooe. . $18,17T.80 Demand deposits (other than bank deposits) (Deposits LofaTable within 50 dage)? . Individual deposits subject to check . AR S . Certificat lesy than 30 days (other than for money borrowed) Other ‘demand deposite 102000 Total of demand depoxits (other n bank_deposits). items 25, 26 and 30).... 8152408 13 Time deposits (payable alter 36 dass. or sublect to 30 ©r more notice) and postal Sactngs Certificates deposit (other horrowed) . . Other time depontts . ooy o Total of time deposits, items 3 d 89 .. ... $36.008.59 asable’ (inciudiog all ob- ligations seuting money wrrowea olher than 'redie- d bills rediscounted, tn: cceptances of other ad foreign Bills of ex- change oF Arafts sold with in dorsement of this bank.... 148,718.08 3.100.00 388.10 of District Guaranty _ Corporation Tt has a constructive policy. It is conducted in the interest of many men and women (its stockholders), and its purpose is to help others to succeed. Among its present stockhold- o ors are many who have been helped to syecess and who be- ieve in the company because they KNOW its unselfiski meth. ods and its officers. YOU are invited to share in this successful business. BWestlake FIICAL AGENT securities AS First Mortgage Notes —there would be no cause for such fabulous losses as are reported yearly. We recommend only to our clients such securities as have stood the test of ycars, with not the loss of a single penny. We have on hand only a limited amount of 6%9% and 7% notes of $250 up to $1,000. | Chas. D. Sager 938 Fifteenth Street N.W. Math 36 Loan Depsrtment Appraised by Experts of 3 OFEN AT 830 A DATLY 3% ON SAVINGS - The Columbia National Bank v 911 F Street $250,000.00 YourBanker’s Knowledge —must, in the very nature of things, touch upon condi- tions reacting on your affairs, about which, you may not be thoroughly posted. Immersed in your own business you cannot “see” the multitude of conditions and changes that are the daily study of the modern banker. Surplus, $250,000.00 | . i It pays to “keep close” to your bank and its officers— and that’s how we want you to look upon your connection at “Columbia.” Mutual benefit is the mainspring of our helpful service. FRANK J. STRYKER Vice President and Cashier ARTHUR N. MITCHELL Assistant Cashier JAMES A. MESSER Prestdent BENJAMIN W. GUY Vice President Di t Columbia. City of W e istrict of Columi ty of Washington. ss.: 1, WM. H. KYLE, necre irer of the above o esr that th to the best of my knowledge and bellel WM. H, KYLE, Becretary and Assistant Treasurer. Subscribed and sworn te before me this Bth day of January, 1928, (seal)) VERONICA T. HYrANS, Notary Public. Correct—Attest: & PERCY 8. FOSTER, M. JOHNSTO! Total . RA] : ALFRED HIGRIE, C.N. CHIPMAN, Directors. is the possibility Profection of Principal O rule of investment is so important and should be more closely followed than the one that makes safety the first consideration in selecting investments. Be certain that your principal is fully protected against loss. Investigate our FIRST MORTGAGES, and you will find that they offer the high degree of safety you expect and require. Quarter of a Century Without a Loss You can buy them in any amount from $250 up. from this Investment ¢ We offer this issue of Gold Debenture Bonds— bearing 6% interest pay- able quarterly — and backed by strong secur- ity. With the Bonds we issue a certificate that participates in the earn- ings of the company up to 8% —making a total of 149 as possible return on your investment. All about it s set forth in our circular. Yours for the asking. Commercial Loan. and Finance Money to Loan Becured by first deed of trust on real estate Prevailing Interest and_commission, Joseph I. Weller &0 Wegt. MORTGAGE MONEY, on hand to loan on real estate. THOS. E. JARRELL _™*3rars Rids. Main 768, EQUITABLE | 434 YEAR COMPLETED Annets . $4,657,950.50 Surplus .. $1,180,850,31 Systematic Saving A plan to make saving =1 . Save a little each pay day and you will be surprised at the :.x:\nount accumulated in a short o Subscriptions for the 84th bssue of Stock Being Receivea ? Shares, $2.50 Per Month /Il EQUITABLE BUILDING | 915 FSt. NW. - ill JOHN JOY EDSON, President FRANK P. REESIDE, Seey. Capital Offered 1 have capital to place in & going: business— one that will stand the most rigid and thor- ough investightion. Mereantile or manuf turing bustaess- preferred. , No ‘stock propost tion considered. Replies 15 detell treated con- Sdentially. Address Box 183K, Star office, * B. F. SAUL CO. Main 2100. 1412 Eye St. N.W. MONEY TO LOAN —in any Amounts on First Mortgages. Lowest Rates of Interest and Commission Prompt Transactions Thomas J. Fisher & Co., Inc. H 738 15th St. N.W. . Investing Without Worry 1f you will plsce}ha't money you are receiving from the Victory Bonds and War Savings Stamps in First Trusts on certain improved real estate in Washington that we can offér, you'll have not only an absolutely secure investment, but a highly profitable one as well. Our office is in position to make these trusts on some of thé finest properties in the Nation's Capital —“gilt-edge” properties. We shall be glad to go into details with inter- ested inquirers. - Boss ‘& Phelps “The Home of Homes” . 7 _Phone Main 4340 1406 H Stree FINANCIAL. Gotallished 1889 Finsk mzodflage Loans 3n @vmnt' SDonominalions For Inweslors GILTEDGE SECURITIES First Mortgage Notes Secured on Imgroved D. C. Real Estate 5 Years’ Experience Without a Loss i Offered in Denominations of $250 and Up i A Good Iavestment. WILL PURCHASE First and Second Trust Notes Warehouse Receipts, and Make Construction Loans ational Mortgage & Investment Corpora 811 Vermont Avenue NW. MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST M % %nn & 3. 7207 Connecticect (Bosnue Pride of Ownership OU will feel more pride and inde- pendence of spirit if yeu save and intelligently invest yvururalus Our First Mortgage Notes censtitute intelligent investment. They are secured on new, high-class property, and have as security a tangible asset which you can see for yourself. ¢ Let us assist you toward that pride of ownership by our pride of service, built upon knowledge and experience acquired through over 53 years of invesiment deal- ings. Vi 5% G s 83 Yeare Without Loss te an Invester. Swartzell Rheem& HenseyC: 727 155 Street KW, SAVINGS HETHER you have $100, $500, $1,000 or more to invest, investi- gate our First Mortgage Loans on Wash- }ngt;: Homes before. placing your un NEVER A LOSS Qur conservative business methods have so perfectly protected and safe- guarded the funds of ‘our investors that not a single client has ever lost a dollar of principal or interest on any invest- ment purchased through us. Send for Selected List We will be pleased to send you full information concerning our first mort- gages and our methods of handling them. This Booklet Will Help You Place Your Money Safely %Y O An Ineums? First Mortgage Investments 1409 New York Ave. Main 4600