Evening Star Newspaper, May 21, 1923, Page 23

LABOR SHORTAGE NQUIRY PLANNED Idie Rich to Be Listed With Mechanics—Other News in Business World. BY J. C. ROYLE. BBecial Dispatch to The Star. NEW YORK,.. May 21— Cities throughout the United States are taking steps today to determine defi- nitely just how great @. shortage of labor exists in their industries DPreparatory to applying some remedy to the situation. The chamber of commerce of Philadelphls, for ex- ample, has assumed the task of mak- Ing a census of the voluntarily idle workers in that section, the reason for their idleness and whether or not they can be induced to go:te work. The enumeration will include the idle rich as well as the “suitcase” mechan- fcs. tramps and beggers. The survey will include woman workers and fs cxpected to show definitely whether &n actual shortage of labor exists or Whether the scarcity is due fo an Indisposition 1o work. ! Bricklayers 1o Strike. The voluntarily idle In this city. were materlally increased today. -by determination of five - bricklayers’ unions to pull out their men engaged on work for the Mason Builders' As- scelation, hut the threatened strike of 10,000 painters was averted by the ETanting of a demard for an ineréase of $1 a day to $10 and a five-day week. The wage scale will remain in effect until next December. The question of a basic wage scale as opposed to a bonus is the rock on which the bricklayers and their em- ployers split. The employers have been paying in many cases the $12 a which the bricklayers ask, but 15 been on a basis of a §$10-a-day scale with @ $2 bonus, whereas the union men want ‘a basic scale of $1.50 an hour to extend for two years from the first of this month. Shoe Industry Slowing Up. The strike now in progress in Brockton, M among the shoe- makers of that center may result in & widespread curtailment of opera- tions there. The whole indusiry in New England is slowing up. accord- ing to reliable reports recaived to- day. This check to output is partly seasonal and partly due to the severe nter and late spring. Far more four months everybody in New England wore rubbers or overshqes. This meant that many wore old shoes and refrained from buying new. The average New England shoe . factopy today s ‘operating at about .75 per cent. and production at this rate has beer ahead of incoming orders for eeveral wesks. This tendency has had its effect on the leather markets. and tanners are 8dding to- stocks with extreme con- servatism. The demand for fancy leathers, which has been brisk, has Blu\l’:_‘fl down until manufacturers de- termine the style trend for next fall Prices, however, are well stabilized Lower: Priced Auto Demani Active. Automobile manufacturers are watching the trend of .retail demand | With the utmost closeness although the signs of a recession have not yet' made their appearance. “This high- pressure business cannot hold - out much longer,” said one of the largest employers of labor in the autemobile field today. “‘Our business is slack- ening and we expect to be reducing forces witain thirty days.” The Ford company, on the other hand, expects greater sales in the next three months than ever. before, a survey, which includes a .dozen nufacturers today. led to the con- usion that the very low priced and the very high priced car makers ex- pect an increase in demand or a_eon- tinuation of the present - volume, summer slump is expected. Woolen Manufacturers Active., There has been no slackening of activity 'in the mills of the largest producer of woolen cloths Reports of heavy cancellation of orders for fall goods have not been borne out, at least in the case of the American Woolen Company, and buying of raw wool on-the ranges continues in ex- cellant volume despite the high prices prevailing. Price Trend Downward. ST. LOUIS, May 21- (Special).—The most_significant feature in business in the south and west today is the appar- ent inclination of prices to fall. Food are fluctuating up and down, but general trend is downward. There is a lull in wholesale dry good sales and retail trade is more quiet than a month ago. This is due in part to seasonal conditions and .in part to the. attitude of the public toward present high prices, Savings Deposits Jump. DETROIT, May 21 (Speclal).—Sa ings deposits here, which have been in- creasing at the rate of neariy $1,000,000 @ day since January 1. now total $250,- 100, 00. Bankers "declared today the Drosperous and sound period in city’s history now was being Teached. Per capita savings have in- creased 20 per cent in the last twelve months. : Business Booming in South. ATLANTA, May 21 (Speclal).—Con- struction and farm work now are em- ploying every avaiable man in the south- east. ~New building here ‘in the last month has totaled nearly $5,000,000. The slump_in cotton values has affected Wholesale and retai trade very little In this section. NEW YORK EGG PRICES. NEW YORK, Ma receipts, 24,266 case: extra firsts, 281 do., - seconds, 252261 ered, storage packed, extra firsts, 2933a30%: do., firsts, 2815a29: New Jersey hennery whites, .locally selected, extras, 37a40; nearby hen- nery whites, locally selected, extras, 36a. nearby ard nearby western hennery whites, firsts to extras, 29a 85;; mearby hennery browns, extras, 33a35: Pacific coast whites, extras, 361%a38%4; do., firsts te s, Seiman o extra firsts, FOREIGN MARKETS CLOSED. NEW YORK, May 21.—All foreign markets .were closed today, Whit Monday. FOREIGN EXCHANGE. May 21, 1923—12:30 p.m. (Quotations furnished by W. B. Hibbs & Co.) Nominal tecks, roid vatue, A Slecks 4.8665 4. Athens, drachma. Madrid, peseta. Viena, crown. Copenhagen, crown. Christiania; erown. Stockholm,” erown. By the Associated Press. EW YORK, May 21.—Foreign e: changes quiet. Quotations in United Btates dollars: Great Britain, demand, 4.63%; cables, 4.63%; sixty-day bills on_banks, 461%; France, demand, +0667; cable, .0667%. Italy, demand, (048535; cables, .0486. Belgium, de- mand, .0673%: cables, .0574. Germany, demand, .000030%; cables, .000020%. Holland, demand, .3911; cables, .3914 Norway, demand, .1627; Sweden, de- 2668; Denmark, demand, .1860% wBwitserland, demand, .1804; Spain, de- 'mand, .1526; Greece, demand, .0180 Poland, demand, .000021; -Czechoslo- vakia, demand, 0397; mand, .3608; Brazil, Montreal, .98. demand, .1040. hile in the middle priced car field a Argentina, de- |- Received by Private Wire BY WILLIAYM F. HEFFERNAN. NEW YORK, May .21.—Stocks that had held firm during .recent drives against the market were spacial ob- Jects of attack on the curb exchange today. Eaton Axle, one of the latest addi- tions to the list, was subpected to severe pressure, breaking about 5 Ppoints to the lowest it has sold. There was nothing new-in the situation of the company to account for the sud- den weakness. The stock was brought oOut $30 per share and held at this level until today. . Eaton Axle was formerly known as the Torbensen. Axle Company.| Torbensen stockholders voted to. in- orease the capitalization and to change the name to the present, at the same time recelving-one share of the new stock. for each share of Torbensen. 2 The. drive against Durant issues kept- on today, the Delaware stack losing almost another two points be- NEW YORK, May 21.—Following is an offictal list of bonds and stocks traded in on the New York Curb Mar- ket today: Sales fn BONDS. thousands. High. Low. Close. 1 Allied Packers 65, s, 88 3 Alljed ers 8y 0% 0% 31 Alum_Ts 103% 103% | 10 Am Cot 0il s, 05k BN ¢ 6 Am Gas & Blec 84 94 | 5 Am Roil Mills 6a. 98y, 98 2AmT&T 68 "N... 10013 100% 2 Anacondn 8¢ 1019 101% 2 Anaconda 7s ::fl‘ e 12 Auglo Am 0l 2% 30 Ar & Co of Del 838 901 901 80y | 5 At 5 Beaverhoard, 8s 11 Beaver Prod Ths 4 Beth Steel Ts '23 ~ - & WIS S7Ds 49 04 5 88 .. 2 Charcoal Co Am 8¢ Lorserano 0 2 Col Gra part el 1 Con Bal 5%s E 3 Cons Gas Balt 85 & 3 4 Q 8 Cons Gas Balto T Deere & €o T Detroit Citx Gi Detrolt Edison 8s.... Dun Tire & Rub 7s Fed Sugar s of '$3 1 ¢ Acme 7141 New Orl Pub Ser 3. Fh Pet Ths w't war United Ofl- Prod Su.. Vacuum 01} : Wayne Coal s, { FOREIGN BONDS. | 3 1 3 Repub of Peru 8c... 99 = 08 99 18 Swiss Govt 3las..... 100% 100% 100% rt 1% 1% | [ o TS0 Nexica'sa {8ales STANDARD OIL ISSUES 10 units 1500 Anglo Am Oil... Buckeye P L. 100 Con 0Oil ne: 120 Cumberland P L. 135 Gal Sig Ol 10 Hitnois P L. 605 Imp Ol of Can Intl Pet Co Ltd new [ 8 et o o W Penn P L um Oil et s INDEPENDENT OIL STOCKS hundreds. 2 Ark Nat Gas..... 20 Big Indian of 3 Rarciagton Oil 1 Carid Synd . 4 Clties jce 18 Cities ‘Service pfd 7 Cit Serv B cfs .. 1 Columbla Pet ¥ Derby 0 & R 57 & Rpfw i 2 Equity Pet pfd 20 Eugineers Pel 46 Federal 01l 9 Gilliland _Oil. 34 Glen Rock Ol 1 Gen Pet ... 4 Granada Oil 42 Gulf Oil of Pa. 220 Hudson OIl.. 150 Kevstone Ranger. Kirhy DPet ..... Latayette Oil Civingston Pet { o g —_————e NEW YORK CURB MARKET- | | April 30 total, according to the Direct to The Star_ Office. fore . resistance _was encountered. while the Indiana shares sold.at the lowest for ‘the year, just under 11. ew_lows also were established in Todd Shipyard, Universal Pipe eom- mon and preferred and Peerless Mo- tor, the latter declining 3 points -but rallving,to above the.previous close. Maracaibo was a feature of the ins dependent olls, getting up at one time to_within_ less than a poiny of the high for “the year, while Southern States appeared _in good demand. Standard 6f New York selling tire §5- cent dividend made up this amount, day went on offerings of the Indiana stock were heavy enough to bring about a decline of a point or so, and this naturally had an unsettling effect. upon other of the Standard oils. The action of the mining shares was similar to that of the indus- trials. priced mémbers went below the .50 level, a loss of about ten points,.and Mohican Copper was again depressed. er Production capital stock of first sales | fractional r value was admitted, taking place at 3% with a advance. 2 U S Lt & Heat pfd 2% 13 Univ Pipe w i 13% € Univ Pipe ptd w i 6204 2 Waring Hat ...... 18% 23 Western Feed Mfs 6% 2 Wanuer Mall- Cast 27 MINING, 2 Alas Brit-Colo ¢ Amal Zige L'd Sm 100 Ariz_Globe Copper 190 Belcher Divide ... 60 Belcher Exte 10 Black Tuwk 21 Canario Copper - 140 Candelaria Min..... . 5 Chino Ext Mines.. 10 Columbia Emerald.. $ Comstock Tunnel. .. 47 Con Cop Min te cf.. 10 Cons Nev Ctah 30 Cortez Silver.. 21 Cresson Gold. . wn Reserva . ide Extens 13 Dolores Esper 120 Emma Silver pot old Coln Mining.. ' 30 Gold State 31 Hill Top Nevada.. 7 Hollinger 2 18 Howe Soun Tndepender 9 Jerome Devel 70 Lone Star 36 Lazder Produc 10 McKin Dar.... -I0 MeXamara 1 Nipissing 17 Ohiv Cop Premior Gold Rtay Hercules Ine 0 Red Hill Flon 70 Richmond Copper 3 8t Croix Mine. 10 Siiver Queen M . 30 Silver M of Am 180 8 K D M reor.. .. . 2 Spowstorm € Lead 90 Spearhead Gold 10 Superstition Mines. 30 Sutherid Dev M.... . 34 Teck Hughes. ... .. & Touopah Heimont. . 131 Tonopah Divide.... 4 Tonopal Extens 10 Tono Mizpah 20 Tuolumue = 19 Tnftad Eastern ... 4 United Tmper! Min. 1 United Verde Ext.. 10 I'S Cont new w i erde Mine Mew . 3 Valencia Deep Min. 3 West End Consol 20 West End Ext 1 Yukon Alaska tr of 2¢ Yukon Gold NEW YORK ' Equitable RUST COMPANIES, - 188 188 MAY INCREASE STOCK. NEW YORK, May ers of the Associated Oil Company have been called to meet July 19 to consider a proposal to.increase the capital stock from $40,000,000 to+$60,- 000.000 and a reduction in the par value of the shares fram 3100 to 25 each. NEW GOLD NOTE ISSUE. NEW YORK, May 21.—Publie offer- ing was made today of an issue of $7.000,000 three-year 514 per cent gold | notes of the Chicago, Rock Island and Pacific Rallway Company to yield about 5% per cent CAR SHORTAGE DECLINES. ©On May 7 the freight car shortage amounted to 28,316 cars, a decrea of 6.966 cars at prices compared with the Amer- ican - Railway Association. Box car shortage totaled 9.169, a decrease. of 4. within that period; coal car shortage decreased 962; total being 16,672, and there was no short- Monut Guif . 128 Mutaal ol o 3N Y 0il 56 Omar 0il" & 8 Peer Oil Corp... 4 Penn Beaver 0il 16 Pennock Ofl ...: 11 Roy Can Oil & 4 Rran Cons . 24 Salt Ck pew , 13 Santa Fe 0 & 18 Sapulpa Refin 13 Seaboard Ofl . 20 Southern P & R. 37 Sou States Oll. 2 Tidal Osage Oil 89 Turman. Ol . 98 2 35 Wilcox Ol & Gas.. 6% INDUSTRIALS. 1 Acine Coal mew.... 3% . 30 Acme Pack ..» 3 Amal 1 Am G & E ptd. 1 Am G & 1 Am Drug. [ FH e s P <58 3 samis | Carton' s age at all of stock. refrigerator or tank. cars. The number of surplus freight cars In good repair on May 7 was 16.061, an increase of 2,525 since April 30. FOREIGN BAR SILVER. NEW YORK. May 21.—Foreign bar silver, 66%; Mexican dollars, 51. BOSTON STOCK MARKET. BOSTON, May 21.—Following is a list of today's 'highest, lowest and closing prices for the most active stocks dealt in here: 3 High. Low. Close. Alloues e 2 .3 Ahmeek i Am Tel & Tel . Amoskeag Arizona Com . Boston & Albany Boston & Maine Bostou-Elevated ... Calu & Ariz .. in & He 2 Am Hawailan S'S m Stores new 6 Am Loco new w. 1 Am Writing Paper. RE LY RE g 3 -Arm & Co of D ptd. 1 37 Atfantic Fruie - e 4 Bridgept Mach w 15% 2°Brit Intl Corp A L 14 Buddy Buds 1% :gl\‘ l‘:;llt : 4 entrifugal 12! 2 Checker Cab Mfq 48* 1 Chicago Nipple. 4y 2 Chic_Steel Wheel.." 2 51 Chi Steel Wheel pf 71 4 Cleveland Motor... 2815 1 Colorado P & Lt. 2214 3 Columbia C C vt cfs 484 7 Cox Cash Stores A% 1 Curtiss Aero .. 77 18 Donglas Pectin . 133 ¢ 13 Dubiller C & Ra 03 35 Durant Motor 39% 6 Durant Mot of 9% I 67 Eaton Axle & Sp. 2 1 st Steel Casting . 34 Glllette S8 R 13 Glen, Alden Coal. 8 Goodyear Tire 1415 14 3 Griffith, D W . 8 8% 8 8 Hunma M AT%Dld 04% 93% 8 8 Heyden Chem ... 1 17 1 Hud & Mano R 'R, 9% 3 3Hud & MR R pt.. 145 14 14 s 6 Hydrox Corp .. 2 Havana'® Tob pfd 2 Indust Fibre Corp. 2 Libby MeX & T dew’ 1 Lupton F M.. 34 McCrory Stores. 1 Mercer Mot.. 11 Mesabi Iron. RonBl 32 LTI T T .'*;:;si Natl - Sy % N Y Tel 100% 1 4 19 42 80 1.Pyrene Mfg i %o b rene 20 Radio Carp % 34 3 5 Radio Corp pf 3k 3 35 @ Repetti Ci 1 11 16 Reo Moto 1 18 12 Rosenb Grain Corp 48% 48% 4s: 5080 C &% .. 28" % Stand G & B pfd 1 Standard Motor .. 3 Stutz Motor 1 Swift Int . Technical Prod . 20 Tob Prod Export, 1 Todd !hlg 8 Un Pft Shar pew. , 9 Un Retail Candy. 1 it Shoa BUSLt& .l“ { Copper Range -‘3“’3 | Davis Daily Connor J T East Butte . Eastern S § Hardy Coal ..... Int Port Cement Mobawk . New Cornelia . North: Butte 014 Colons. 014 Dominlol Osceola Quiney 8t Ma Shoe Swift & Co. Trinity T S Smeit pfd. a4 Veutura Ol , 2y Waldorf ., a7 ‘Warren Bros 30 30 Cook, Boss and Live Saver. From the Adventure Magazine. Cochin China is a land of Asiatic cholera, bubonic plague, smallpox, tropical heat and myriads of mos- quitoes the vear around. -But it is | also land of endless “good old sum- mer time,” of every fruit in its season amd of “spring chicken” and good cooks all the year around. Hiring a cook in that part of the world is the most important contract one makes. One's life is literally and absolutely in the cook’s hands at every meal. the.water is belled for every purpose, and even. then one buys drinKing ‘water imported. . But, taking things as they are, know firat of all that his high mightiness, the cook. will tolerate no other pur- chaser of meats and vegetables for his table. Hi tion is involved. professonal reputa- Childish Philosophy. From tle Boston Transcript. A little girl aged six was asked to and ught u'; vanity 1-..9“ 5 k of me? state-the difference between prij vanity. - After ' considerable . she replied: “Pride think much of ‘What do you th! but failed to advance further. As the | Ghio Copper among the law- | . Cholera . lurksy in the kitchen all the year around, unless TTON SELLS UP FOR PRESENT MOVE New High Ground Partly Due to Covering by Shorts—Reaction Follows. By the Assoclated Press. . NEW YORK, May. 21.—Cotton futures opened steady; May, 27.15: October, 23.20; December, : January, 22.53. Early setbacks were followed by advances which were featured by the covering of July shorts. Evidently there were few contracts for sale until- the market was bid up to 25.88, or 45 points net higher, and into new-high ground for the. present recovery. Later months_sold about 18 to 20 points above Saturday's closing fig- ures, owing to' the strength in July and reports' of rains in the eastern belt. After the flurry of cavering by July shorts subsided. however, the market became less active and there were reactions of some 10 to 15 points from the belt, with ~prices holding steady around 15.75 for July, and 2317 for October, early in the noon hour. NEW ORLEANS, May 21—Cotton opened steady. . May, 25. July, 25.52; October, 22.49; December, 22.15; January, 22. More favorabls crop accounts from’ western -Sections of | the belt, where the weather over Sun- day was warm .and dry, caused a drop of 8 to 12 points in ‘the price of cotton soon after the opening to- day. A quick upturn followed the posting of the forecast, calling for cloudy to unsettled and showers® weather over the western half of the cotton reglon generally. At t end of the first hour of business prices_were 13 to 35 points higher than Saturday's close. July .fell off to 25.40 and strengthened to 35.87, October fell off to 22.43 and then rose to 22.75. NEW YORK, 21—Cotton_ fu-| May, 27.14: July, | )3; December, 22.62: Spot, steady; mid- May NEW ORLEANS, May 21.—Cotton futures closed steady, 4 points up to 11 points down net. Closing: May, : 5.56; October, 22.44; De- ; January, 21.9 NEW ORLEANS, May 21.—Spot cotton steady and unchanged. Sales on the spot. 1.551 bales; to arrive, 2 low middling, 23.50; middling, good middling. 26.75. Receipts, ! 100,484, i —_— Washington Capital Trac: apeake Electric ¢ cons. B 2.000° at 07 000wt 971, $4.000 at 9T% | —6 at 95, 4 at 98, ll)| a Potomac Potomac $2.000 at 9734, & Capital Traction Co. | pa—13 gt 7. 10 Firemen's Insural Lanston Monoty ergenthaler Linotvpe- % 10°a 15815, 10 at 154 10 at 153% AFTER . BONDS. Bid and Asked Prices. Bid. CTILITY Asked PUBLIC an Tel. & Telg: Chesapeake & Pot Tel. of Va {cap: Traction R. R. Os. 1 Potoma Potoma, § Potoma | Por. El Pot. Elec. Pow. |Pot. Elee’ Pow W | Wash.. Halt. & | Washingion Gas { Washizgton Gas Wash. Ry. & Fl Wash. Rws. & MISCELLANEOUS, | D, C, Paper Mtg, do Riggs Realty 5 Riggs Res Security S Wash. Mkt. Cold Storage 53 { Wardman Park Hotel 8s.. | H STOCKS. i PUBLIC UTILITY { Amer. 1 - | Capitat | xwashington 2 Ik & Wacn Ste Rus. & Ele . Rwy. & Termiaal jCapital .. Columbia | Liverty © Lincoln .. National Me! Riggs TRUST COMPANY. | Amer. Security & Trust Continent Merchants National S Cnion Trust.........- Wash. Loan and Trust.. SAVIN Commerce and Savings.. Eash Washington ... Security Savings and Com. Seventh Street .......... Cnited States.... ... Washington Mechanies’.. Baok.. . 3 ings and Trost BAN Firemen's ...... National Union. TITLE INSURANCE. Columbia Title........ Real Estate Title. Columbia Graphophone com. Columbia Graphophone pfd D. C. Paper pfd : Merchants’ Tran Mergenthaler Linotype. 0ld Dutch Market com. 01d Dutch Market pe Lanston Monotype. Security Storage. Washington Market. Yellow Ca BUTTER GOES LOWER. . CHICAGO, May 21.—Butter lower; creamery extras, 40: standards, 40% extra firsts, 39a39%; firsts, 38a38%; seconds, 36a37%. Eggs, bigher; re- ceipts, 43,084 cases; firsts, 2433a25; ordinary firsts, 22%a23: miscellaneous ; not quoted; storage pack extras, 27%;! storage pack firsts, 26%. 1 OIL CONTRACT CLOSED. NEW YORK, May #1.—The General | Petroleum Corporation has contracted to sell 12,000 barrels of California jrude oil daily to.the Atlantic Refin- ‘ng Company, the oil to be trans- ported to the Atlantic coast through the Panama canal. i - WILL MEET IN BOSTON. NEW YORK, May 21.—The next na- ' tional foreign trade convention will | be held in Boston the latter part nti May, 1924, James A. Fairell, ‘presi- dent of the United States Steel.Cor- poration, who is chairman of the Ni tional Foseign Trade Council, an- nounced today. He wired Gov. Cox of Massachusetts accepting an invitation conveyed by the governor for the people of Boston. 1 On May 20th all interest sfopg on Victory Bonds Money to: Loan EQUITABLE [l ag i ea miome Co-Operative Building ]oup., 2 © Association Organized 1879 434 YEAR COMPLETED Assets .. Systematic ‘Savings Actomplishes -Most —Adopt our systematic ‘saving plan. 1t ts the plan that has been followed with the ~greatest success throug! years by innumerable Datrons. Subscription fer t " 84th lssue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSON, President FRANK P, REESIDE, Secy. eller _'If you aave money to- invest, we can safely place it on gilt-edge first D. C. Mortgages. Our record of 30 years insures your pro- tection. Courteous -treat-. Percy H. Russell Co. | S.W. Cor. 15th & “K” Sts. ! First Mortgage Loans Lowest Rates ~f Jnterest and Commissfon Prompt Actien Thamas J. Fisher & Company, luc. 2 T3 15th Street. LOANS to $300 on D, C. real, estate_and houtehold goods’ or chat.' Forei o S R g Quotafiom Commercial Loan & Finsnce Corpbration By Radio Syatem Gonsriebied & Fateat Bending. Daily at 10 o'clock from Sta- tion WIAY of Woodward & Lothrop the latest quotations will be broadcasted. Rates by rivate wire from New. York. pecial phone, Foreign Depar‘~ ment, M. 8222 The Washington Loan and Trust. Company 900 F Street 620 17th Stre«t Money to Loan First Mortgages L.W. Groomes, 1416 F St. Bonds so designated have market advantages A which they would not “Why" i otherwise possess. —take a chance in any Inves ment that might resuit in a lo When —there i8 available such secur- ities as Gilt-Edge % First Mortgage Notes in Amounts of $250 up to $100,000 We have on hand subject to prior sale a limited amount. Certificates of titles furnished with all notes. : Full particulars. 2 Chas. D. Sager 924 14th Street Main 36 and 37 Mortgage Investments The sale of securities to such Sinking Funds can often be accom- plished at better than market prices. We will be glad to send you our recent re- viewofbonds containing Sinking Fund provisions. GRAHAM. PARSONS % Co.| NEW York WASHINGTON 405 HIB’S BLDG. Telephone : Main 2655 MORTGAGES The Safest Security on Earth We offer, subject to prior sale, a limited -ssue of First Mortgage Real Estate Loans at 7% interest,-secured on well .rsh:c}cd, newly constructed residential property in Northwest Washington. Call or write us for full informa- tion concerning thesc loans. CONVENIENT DENOMINATIONS $250 $500 $1,000 Ask for Descriptive Booklet “S*——It’s Free WILLIAM S. PHILLIPS Fixgt Mortgage Investments 15th St. at K St. N.W. $100 Main 4600 Washington's Oldest National Bank Venerable in Years Vigorous in Spirit {[Pleased as we are with the historic record of this, The Oldest National Bank in The District of Columbia, it is the achievement of 1009 efficient service that gives us most satisfaction. f[Connection with a vigorously con- ducted bank, such as this, will prove helpful—let us tell you how. b Organized in 1814 Our Savings Deft. Pays 3% Compound Interest National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St., Opposite U, S. Treasury—109 Years Old VICTORY BONDS " Called for Payment and principal is available for other purposes. Merchants Bank & Trust Company Main Office, '15th and H.Sts. N.W. Branch, - ° Branch, Dupont Circle 12th and Newton N.E.° Will collect without any cost to owners who are customers of thejr institutio : * PG for those desiring.to.open a Checking Account paying 3% intdre_at ‘compounded: - * Savi Account e semi-annually, l! flom Furniture - . 1 } | " 43, VICTORY NOTES WERE CALLED FOR PAYMENT ON MAY 20, 1923 “+“We<shall be pleased to have them .cashed for you without charge, and invest the funds in our *674 % FIRST MORTGAGES They ‘have a proven record of safety and yield for over .thirty years. Over a Quarter of a Century Without In' amounts. of $250 and up. e Interest payable semi-annually. " B. 'F. SAUL CO. 1412 Eye St. N.W. How to Build an Independent Income ‘What will you be worth 10, 20 or 30 years from now? What will you be worth when you are 40, 50 or 60 years of age? Impossi- ble to-tell? "Not at all. Not if you are following a definite, systematic method of investing your savings. If you are not fol- lowing such a method, then the simple charts in this booklet will clearly point the way for You to attain financial independence. —From “Hew To Build an Independent Income” If you would like to see the charts, if you would know more about our 6%2% First Mortgage Investments and the plan by which your monthy sav- ings will earn full bond interest, call, write or Ehone Main 6464 for a free copy of the booklet. ke F.H.SMITH CO. Founded 1873 FIRST MORTGAGE INVESFMENTS 1414-1416 EYE STREET, N. W. Builders of Washington 7. Miss Ruth McCallum ISS McCallum has recently be- come private secretary to one of the most - prominent business men in Washington. - She has achieved that position by diligence, faithfulness and the ability to think for herself. Her salary, at first meager, has steadily in- créased to a point which even her fond- est hopes had not anticipated. » But because she had not foreseen her fortune: she had always saved a 'little of her earnings each year throughouit her advancement, and had invested them in our. First Mortgages. And now, in addition to her increased salary ceives the income from this investment. She has set aside a nest egg, and un- she re- consciously aided: considerably in the building of new homes in the city. You, too, by such investment, can, with her, feel secure’as to your savings and at the same time be one of the po- tential builders of Washington. ™ Swartzell Bheem & HenseyC 727 152 Street NW. . " 54 Years Without Loss to an !nvulor LAt R