Evening Star Newspaper, May 27, 1923, Page 27

FINANCIATL Five Noted Spedkers Secured . To Address District Bankers| iy THE - SUNDAY RANGE OF* Convention Plans Pushed—Treasurjf Pay- L ment Due-—-Investn went Safety Rules. . Ten Richest Men in World. Announcement was made yester- day by Robert Fleming, vice pres- fdent of Riggs National Bank and chairman of the general committee in charge of arrangements for the forthcoming convention of the Dis- trict of Columbia Bankers' Associa- tion at Hot Springs next month, that five speakers of national reputation had been setured to address the gathering. ? The subjcts to be taken by these men, the names of whom will be an- nounced later, are “Government Finance “The Railroad Situation,” “Finance Companies and Their Re_ lation to Banks,” “The Automotive Industry and Its Problems” and “A Broader Outlook for Washington.” It was further announced by the committee in charge that arrange- ments had been mada with a Cath- olie priest, whereby mass will be | conducted at the resort on the Sun- | day the bankers ‘e there. La: vear considerable inconvenience was | wxperienced by bankers of that faith, due to there being no Catholic serv- ices at the time of their st Fernand Petit, chairman of the transportation committes, said yes- | terday that while applications for reservations indicated a large at- tendance at the convention, there were still reservation to be hadr- and urged that all those yet to secure same will place their requests in writing, as much confusion has re- sulted from phoning in orders. Treasury Payment Due. Depository banks yesterday recelv- ed a call for payment on May 29 of 20 per cent of the amount of de- posit with them, arising from the purchase of United States 4% per cent Treasury notes of series B-1927, which were dated May 15, 1923. Fleecing the Public. A small pocket volume, clearly and briefly describing thirty-three wa by which irresponsible sellers of se- curities fleece inexperienced an un- wary investors, has been published by the Better Business Bureau of Washington and is being widely dis- tributed. The articles embodied in the book- let are by M. J. Kenner, president of the Better Business Burcau and formerly director of the National VigHance Committee. They were first published as a series in a New York newspaper and attracted wide at- ention. o rone the schemes to defraud the public set forth by Mr. Kenner blind pools, fake price increas loading schemes, interim certificates nd housing trusts A ivisary council of the Better Business Bureau is headed by David F. Houston, ‘president of the Bell Telephone Securities Company, Inc. and formerly Secretary of the Treas- ury, and has among its membership many distinguished bankers. The bu reau, according to published’ statis tics, has saved the public upward of .000.000 since it began operation last July. & Reserve Ratlo Advances. Combined Federal Reserve ratio ktands at 6 per cent, compared \\;l__ll! per cent a week ago and 7.5 er cent a year ago. P mprovement in ratio was due to an increase in cash reserve, and de- crease in deposits and notes in cir- culation. Gold increased $5. .IO.(\QI) during the week under review and stands at § 5,000. Geld held by Federal Reserve Banks has in- cased slowly during the last year, but authorities say there is little “ason to fear an outflow of the vel- Jow metal in the near future. There have recently been numerous warn- .ings issued calling_ attention to the danger of large gold exports, but it is a significant fact that no important country seems willing to remove its embargo on gold shipments. Even England fears a free gold market would result in a further loss to a. A ifewr of the fact that about $750.- 000,000 of Victory notes matured May 20, a gain in reserve ratio appears very encouraging. Although this was purely a refinancing operation, it was expected to result in some temporary increase in volume of loans. Loans stand at $700,313,000 com- pared with $69 00 for the pre- vious week and $48 000 a year ago. Tuvestments owned amount to $20 014,000, This is an increase of $18,- 085,000 for the weeck and probably i ments in the recent ! its were allowed to run down to 36,332 This is the lowest figure touched in many weeks, and_forecasts immediate withdraw als from 100,000 s withdraw fact that at the close of busin “Tuesday, deposits had declined to $ 332,000 indicates that Victory notes: were presented for payment in large | volume. Richest Men in World. [ Here is a list of men who are cred- Monday. in Europe, and the name stuck, Zaha- roff enjoys mystifying the lay world. He gave $2,500,000 a year to Greece during the Balkan wars; he owns more than e half interest ‘in Monte Carlo; he gave the Sorbonne $140,000 for an aeronautical chair and Oxford $125,000 for another. Of the others on the list of leaders Mitsul's place may be disputed by Twasaki. The Mitsuis are pushing; the Iwasakis conservative. Both groups have financial, trading and shipping interests. 5 The other oriental, the Gaekwar of Baroda, may or may not be entitled to a place. His income has been va- riously estimated at $5.000,000, $12,- 500,000 and $50,000,000 a year. Du ing the war he bought a liner to give to England as a hospital ship. He has a jeweled tapestry worth $1,500,- 000; of his diamonds three alone are valued at $1.250,000. Guns of gold weighing 400 pounds stand at his palace gate. The court artillery in- cludes harness that cost $45,000 a team. T. B. Walker of Minneapolis is among the men who cannot estimate their wealth within a wide margin of probability. To gage it he would need not only a corps of statisticians, but a regiment of timber cruisers. His lumber holdings in the northwest and on the Pacific coast are immense. The public hears little of him. com- parativelv; he started as a teacher and a surveyor, and he has been a power in Minnesota for a third of a century. WEEK SEES GAINS IN ALL MARKETS Higher Prices Noted in Many Im- portant Products—Busy “Bargain Hunters.” By the Associated Press. NEW YORK. May 26.—Sharp re- coveriés took place this week in all speculative markets—stock, cotton, erain and sugar. Numerically, de- clines in commodity prices agaln ox- ceeded the gains, but higher prices were noted for a number of impor- tant products, notably Mid-continent | zasoline, rubber, lead, zinc and high | grade beef The rally in stock prices came af- ter nearly eight successive weeks of reaction, at the culmination of which the averages for twenty industrial and twenty railroad barometric stocks were within a point of the lows of last November. While the recovery was generally regarded as a natural correction of an oversold condition. shorts were compefled to compete With heavy buying of so-called “bar- gain hunters.” LIVE STOCK MARKETS. BALTIMORE. Md., May 26 (Special). —The general live cattle market rules steady to firm, with current receipts light and a good and con- stant demand prevailing for cattle of first quality. Cattle of ordinar. ock, however, continues slow to find favor., even at sharp discounts. Wharf receipts continue very light. Quotations today at Light street wharf—Beef cattle, first quality, Ib., 8 to 9; medium, Ib. 6 to 7. Buils, a8 to quality, 1b., 4 to 6. Cows, choice to fancy,'Ib. 5 to 6; common to fair. 21; to 4. Oxen, as to quality, Ib. 4 to 6. Mk cows, choice to fan: head, 50.00 to 75.00; common to fal head, 30.00 to 50.00. Calves, veal, choice, Ib. 11: ordinary to medium 1b. 9 to 10: reugh, common, thin, 1t 7 to 8. Sheep, choice, 1b..' 6 to Ol bucks, 1b.. 4 to 5; common, 1b., 3 to 3. Lambs. fall, choice, 1b., 13 to 14; fair to good, Ib. 11 to 12; common. thin, Ib., 9 to'10; spring, as to quality, Ib. 15 to 16._ Hogs, straight. 1b., 8. Sowi 1b.. 6. Stags and boars, lb.. 4 to 5. Live pigs._as to size and quality, Ib.. 12 to 15. Shoats, as to size and qual- ity, 1b., 8 to 10. NEW YORK, May 26.—Cattle—Re- ceipts, 480 head; no trading. Calves —Receipts, 6 Ohio veals, .00a11.00; Virginia veals, 9.50. Sheep and lambs—Receipts, 4,320 head; iower. Sheep 4.00a6.50: cull 2.00a3.00. Lambs, 14.00a16.25; cull 10.00a11.00. Hogs—Receipts, 2,300 head; steady medium weights, '8.00a8.50. Pigs an heavy hogs. 7.60a8.00; roughs, [3 WHEAT GOES LOWER. CHICAGO, May 26.—General selling of wheat today, together with pro- nounced absence of speculative de- mand, appeared to hinge more or less | on an official estimate of the probable vield of wheat in Kansas. Prices closed heavy, 214 to 2% net lower, ited in authoritative circles with pos- sessing more wealth as individuals | than any other group on earth: Henry Ford, $350,000,000. ! John D. Rockefeller, $500,000,000. The Duke of Westminster, $150,-! 0.000 to $200,000,000. ° 4 ir Basil Zaharoff,. $100,000,000 2090,000. ugo’ Stinnes, $100.000.000 Percy Rockefeller, $100.000.000. Baron H. Mitsui, $100,000.000. Raron K. Twasaki, $100,000,000. J. B. Duke, $100,000.000 George F. Baker, $100,000,000. The Gackwar of Baroda, $125,000,- 00, 8 T. B. Walker—Perhaps -less than $100.000,000; perhaps as high as $300,- ©00,000. 1 Richest Families Also Named. Some explanations are necessary these items, said the New York Tim in a recent article. More pressing is} the need of accounting for some pal- pable omissions. The Rothschilds will occur to an¥ one. glancing over, the list. But the Rothschilds come in_another class—those whose for- tunes cannot be credited to any indi- vidual, but belong to a family. In this second category the leaders are: Rothschilds—$250,000,000 The $3500.000,000. 200,000:000. 000,000 « to | iny to The ggenheims—! The ' Vanderbilts—$ +§100.000,000. The Weyerhaeusers—From $100,- 000,000, up. The ‘Astors—Estimates range from Jess than $100.000.000 to $700,000,000; the lower figure is probably nearer the truth. The Mellons—$75,000,000, two-thirds of which is credited to A." W. Mellon, Secretary of the Treasury. ' The family group should properly embrace the Rockefellers. including John D. Rockefeller, jr. Baron Mitsui perhaps belongs here, too, for he is the head of a clan; with him should go Baron K. Iwasaki, whose family is second only to the Mitsuis. But ihe wealth of families is even harder to estimate than that of individuals. Consider the Rothschilds; ‘they are scattered all over Europe. In the case of John D. Rockefeller a complete estimate of his wealth would have to take notice of the $500.000,000 he gave to charity and to foundations. ‘Whe Multi-Millionaires Are. The Dike of Westminster's wealth i in land. Although he Sold Gain- borough's “Blue Boy” and Reynolds’ picture of Mrs. Siddons, as the “Muse of Tragedy,” for imme sums in order to pay his taxes, he is, never- theless, the richest man in England, and, while land poor, in a measure, is carrying out_the family policy of not selliug an acre. Sir Basil Zaharoff is Europe's man of mystery, but the basis of his money is solid enough—it's Vickers, the gun ( firm. The war made him. Herbert, in ' {parliament, called him the richest man to | 2% visions 5 to | were steady today and quiet. with July 1.14% to 1.14% and Sep- tember, 1.13 to 1.13%. Corn lost 2% to 23%a2l; oats, % to 1%, and pro- DRY GOODS MARKET. XEW YORK, May 26.—Cotton goods Yarns sold freely. Burlaps held steadier. Silks ruled auiet. Some lines of knit goods were offered for Jate fall de- livery at the same prices, Hoslery was quiet. Wool goods showed little change. NEW YORK COPPER PRICES. NEW YORK. May 26.—The copper market has remained quiet during the past week with prices easier owing partly o reports of increased offer- ings and lower European markets. Quotations for electrolytic today range from 15% to 15% delivered. Iron unchanged COTTONSEED OIL QUIET. NEW YORK, May 26.—Cottonseed oil was quiet but steady, easier lard being offset by unfavorable crop and weather news. August closed one point lower and the balance un- changed to 4 net higher. May sold up to 12.30 and closed at 11.50 to 12.15. Tenders of 100 barrels came out, bringing the total for the month up to 2,500 barrels. Sales 5,800 barrels. Prime crude, 10,00 nominal; prime summer yellow ' spot, 11.50; May, 11.50; July, 11.41; September, 11.15, DAYTON PLANS TRIBUTE TO ARMY AIR LEADERS DAYTON, Ohio, May 26.—Plans for the public testimonial dinner Monday night to the progress of aviation and to the aviators from the two local flelds, and Lieuts. John A. MacReady and Oakley G. Kelly, were completed yesterday. Activities will begin Monday with a spectacular air circus from 2 to 3 vclock -in the afternoon. The com- mandants of both McCook and Wilbur Wright fields will send every plane from the two fields into the air. While the Wilbur Wright Field planes cir- cle slowly over the city in battle formation, those from MeCook will £o_through the various.air maneu- vers. Lieuts. MacReady and Kelly are ex- pected to arrive in Dayton. Monday morning from San Diego, having left Rockwell Field yesterday returning -from their non-stop transcontinental flight. They will be particular guest of honor at the testimonial. Maj. Gen. Mason T. Patrick, chief of the air service,"and Brig. Gen. Willlam Mitch- ell, assistant chief, also are expécted to arrive Monday morning. 6.00a | INDUSTRIALS L L L wrrgenrT sents 20 industrials and outline curv, alume of sales of all stocks. Avera; all Street Journal. Sales. BONDS. $2,000—C. and P. Tel. of Va. 5s 4,000—Ana. and Pot. River R. 25,000—P. E. P. 65, W. i..... Sie 23,000—Georgetown Gas Light 1st 5s 26.000—C. and P. Telephone 1st 5s 80,500—Capital Traction 1st 58 2.000—Metropolitan R. R. 1st 5s 00—Pot. Elec. Power 1st 5s. 00—Pot. Elec. Power cons. § 14.500—Pot. Elec. Power deb. 6s 58.600—Pot. Elec. Power gen. 6; .000—Wash. Gas Light gen. 5: 24,000—Wash. Ry. and Elec. gen. 6 44.600—Wash. Gas 7%4s. Park 6s ... STOCKS. Capital Traction 3,235—Washington Gas ... 406—N. and W, Steamboat. 'z 5 c. com. g and Elec. pfd.. 14—Commercial Nat. Bank 46—District Nat. Bank ........... 13—Farm. and Mech. Nat. Bank.. 27—Liberty National Bank.. 51—Nat. Metropolitan Bank, .. 193—Riggs National Bank 10—Federal-American 294—Continental Trust .... : atlonal Savings.and Trust.. Union Trust ‘Wash. Loan_an us Merchants’ Bank and | ast Wash. Savings Bamk.. { Sec. Sav. and. Com’l Bank.. ‘Washington Mechanics® Firemen's Fire Insurance. 36—Real Estate Title Insurance. 994—Mergenthaler Linotype 807—Lanston Monotype curity Storage Co. ashington Market i i 394—W. 30—Banking Trust and Mort -Munsey Trust ..... 150—Citizens' Savings Bank 1—Departmental Bank 46—District Title Insurance 36—Washington Title Insuranc {HYLAN DENIES RUMOR, OF 1924 THIRD PARTY Declares Trip to Chicago Had Noth-l ing to Do With Hearst Boom. gage. By the Associated Press. . NEW YORK, May 26.—Mayor Hy- lan issued a statement today denying that his. recent conference in Chi- cago with Senator La Follette and other liberal leaders had anything to do with the 1924 presidential race. Reports had been published here that the meeting was in the Interest of a proposed third party, to be headed by | {William Randolph Hearst, i The mayor’s statement sald he had | been invited by Senator La Follette to a conference in protest against the fixing by the Interstate Commerce Commission of an excessive valuation on the country’s railroads. ONE MAN IN FORTS. BRADENTOWN, Fla, May 26— Sergt. Fagan, U. 8. A, today is the sole occupant of Forts Dade and De Soto, on Egmont and Mullet keys, respectively, at the mouth of Tampa bay. The forts were formally aban- doned by the government last Wednesday. They had been units of the country's coast defense for years and Fagan, who had served thirty- one years, was left in charge. BAND CONCERT. To be given at United State: Marine Barracks tomorrow at 4:30 pm. by the United States Marine Band, William H. Santel- mann, leader; Taylor Branson, spcond leader. Program: arch, YMarine Corps - Insti- tut Branson Overture, .. Herold Entr'_acte, Pop- pies”.... .. Ancliffe Grand_scenes from, “Madame 8 Butterfly”. ........Puceini Talts. Jolly” Feliows”. - Volistedt Three d: German ‘Zampa** “Valley ‘of (¢) Merrymakers’ Dance— presto. Torchlight Dance, No. 1, The chart above shows the high and low, by weeks, of forty representa- tive stocks dealt in on the New York Stock Exchange. from the first week of 1921 up to and including the fourth week of May, 1923. The Year 1923 to Date on the Washington. : Stock Exchange. Up to and inciuding Saturday, May 26. 1923. Furnixhed by W. B. Hibbs & Co., Hibbs Building. 00—Wash., Balt. and Annap. 1st 55.. 170.000—Wash. Ry. and Elec. cons. 4s.. UNLISTED DEPART! { important factor in forcing the de-| e [N = MiLLION Solid curve repre- e 20 rails. Lower section indicates| ges used are those compiled by the High. 94 87 10112 90 951 Low. 94 87 100 Close. 94 87 100 8915 Open. 94 87 1011 2| 526—American Security and Trust.. .40 MENT. ERRATIC WEEK ON CURB. ! NEW YORK, May 26.—The curb al-| ternated between strength and weal ness on several occasions in the past | week. Many stocks were pressed at| concessions in the first few days, but | in the last half of the week the situ- ation was essentially changed and the early losses were reduced or more than recovered. Liquidation was an clines, some issues being without support, and at times heavy selling occurred, showing losses ~ranging from 2 to over 14 points, but rallies were equally violent. The widest movements were in one of the motor stocks, which first drop- ped 14 points and then rallied over 18 points. Checker Cab Manufactur- ing, which sold down to 46, rallied t. above 54, and Stutz Motor, after fall- | ing to 145, rallied to above 18 (o STAR, WASHINGTO! MARKET AVERAGES FURTHER CAUTION JARF QUAR. I"QUAR. 2°Q l" j April 1Operating expenses were § MAY IN STEEL MARKET Copper Trade Quiet During Week—Weakness in Zinc and Antimony. By the Associated Pres. NEW YORK, May 26.—The steel market has given further evidence of slowing down in some directions, with a feeling of caution quite general. Values are well maintained and pro- duction is active, but mills are rapidly catching up with their orders and buyers are no longer willing to pay premiums for prompt delivery. The situation is considered tq be healthy, however, and requirements are be- lleved to be large. Pig iron has con- tinued quiet and as production is large prices are slightly easier and in some cases lower. Copper is easier, with only a small trade. Exporters have shown little or no interest and there is no indica- tion that the quoted for both rolled and drawn pro- aucts have mand. ~The tone has also been un- favorably affected by the contraction of building operations and the lessened demand for rallroad equipment. It is believed that supplies in second hands are small, but there has been some price shading on small lots and some of the producers have also shown a disposition to consider lower figures. Tin showed little net change for the week. Dealers appear to have picked up all the cheap offerings, but consuming interests are indisposed to contract ahead. Lead steady with consumers seek- 27, 1923—PART - 1 lower prices recently | stimulated domestic ~de- | ing prompt metal, but showing lltlle‘ interest in futures. Zinc has weakened again under in- creased offerings and the weakness abroad. Demand continues slow. Antimony also developed further weakness because of slack demand. SEABOARD'S APRIL REPORT. NORFOLK, Va.,, May 26.—The Sea- | board Air Line railroad reports for | gross earnings of $4,415,000. /425,000 taxes, $175.000; net operating revenue, $815.000; other income, $45,000; gross income. ' $860,000; hire 'of equipment, $314.000; fixed charges, exclusive of interest on adjustment bonds, $524,000, leaving a net income of $131,000, ap- plicable to the adjustment bs, Interest on which requires about $105,000 a month. For the year 1922 the line reports a deficit of $1.158,230, after taxes, in- terest, etc., as compared with a deficit of $224,206 in 1921. At the end of 1922 current assets were $22.484,748 and current liabilities $16,858.396, leaving a working capital of $5, . BOND PRICES EASIER. NEW YORK, May 26.—After re- cording good advances in the early trading today, bond prices eased slightly in lafer dealings. Most of the railroad mortgages and industrial lines, however, closed fractionally higher than the final figures yesterday. Active United States government bonds were fer the _four liberty issues yielding from 4-32 to 8-32 of a point.” The tax exempt 3!z and Treasury 414s made slight gains. Foreign government bonds continued rm. today, Salesman First Mortgage Bonds Company issuing First Mortgage { Bonds on improved real estate has | opening for the right man. Ad- dress Box 251-A" Star Office. A; Exceptional Offer A WASHIN PAID AN N NINE PE 3 AND HAS T FROM BUSINESS IT EVERY DAY §I STEADY INCRE WE_HAV] SHARES EACH. ERR PAR) AND COM (810 MARKET VALUE) OF A NAL ACCOUNT TO SELL IN FOUR ~SHARES ~EACH A_BLOOK OF TEN TS CAN BE HAD AT THE VERY 2 OF $1,200. B SHARES ARE ALL PART AL ISSUE. BLOCK! WILL BE SET ASIDE AS RESERY. TIONS ARB RECEIVED. F. A. SCHAUSS 901-2 Mather Bldg. Franklin 8054 We desire to borrow fifty thousand dollars, first mortgage, upon | land in Maryland, just beyond Chevy Chase, valued at $150,000.00. Address, Box 341—Z, | Star Office. FIRST MORTGAGES The Safest Security on Earth constructed residential We offer, subject to prior sale, a limited issue of First Mortgage Real Estate Loans at 7%, interest, secured on well selected, newly Washington. Call or write us for full informa- tion concerning these loans. property in Northwest CONVENIENT DENOMINATIONS $100 $250 $500 $1,000 Ask for Descriptive Booklet *S"—It's Free WILLIAM S. PHILLIPS First Mortgage - Investments 15th St. at K St. N.W, FINANCIAD LOANS If you Jave wmoney to SEe it on gilt. Mortgages. r record of 30 years insures your pro- tection. treat- Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. 27 | Money to Loan | Becurec by first deed of trust on real estate. vailing interest and commission. |Joseph 1. Weiler 75 54 5t Earnings of 8% Plus Make your savings carn a real income. We er preferred participation and voting inter- est in id established dividend-paying meat- industry located fm Preferred ctive paid “We” .—Rhave on hand, ready for im- mediate delivery, about thirty ,thousand dollars-in gt edge 7 First Mortgage Notes in Amounts of $250 up to $7,500 A splendid opportunity to in- vest your funds with abso- lute safety and get the maxi- mum _return of interest. Title certificate insurance policies is- sued to all our loans. For full particulars Loan Dept., Chas. D. Sager 924 14th Street Main 36 and 37 Mortgage Investments for voting shares nually. Large new struction promise enormous of shares and earnings. Monthly fesired, | Write for particolars. es Finance Corporatio Denver, Col. yments if e United 522C, Foster bldg., apply Announcement North Capitol Savings Bank Announces —the removal of the Bank to its new location Northwest Corner North Capitol and H Streets, Monday, May 28, 1923 You are cordially invited to call and see our new home. from $100_to §: 1200—made C. Real te. Daable monthly. 7 per cent iaterost. 1 & Fis Corp, Room 211, fi‘l 15th l:t‘.w;' Send For Our List of 7% FIRST MORTGAGES on hand several very choice s running for three years— At 7% Interest Ready for Delivery in a Few Days CHAS. D. SAGER 924 14th M. 36 Mortgages, Lo Opening Day Hours: 9 A.M. to 10 P.M. Money to Loan First Mortgages L. W. Groomes, 1416 F St. ] Home Furniture From $50 to on household goods or ohattels. 7 per cent interest. No Dbrokerage charged. Come in and let 'us explain our method of making small loans. Commercial Loan & Finance Corporatisa Room 211, 921 15th Bt. M. System Copyrighted & Patent Pending. WHICH IS BETTER? Safety of principal and good return, or uncertainty and anxiety as to the principal, no matter how great the return? A trustee has but one answer. Any other person has but one sensible answer. The great fortunes are made by good earnings, careful savings and few losses. The conservative @ FIRST MORTGAGE has no peer in the investment market. It means no losses. Quarter ofa’ Century Loan secured by first Without mortgage upon two new | houses in Edgemoor District. 509, valuation. | Address, Box 337—1Z, Star a Loss B. Main 2100. F. SAUL CO. 1412 Eye St. N.W. Continental Trust Company Capital One Million Dollars th & H Street: T T IR (f7 7% Gold Mortgage Bonds WE OFFER WASHINGTON AUTOMOBILE APARTMENTS, INC,, 7% Coupon Gold Mortgage Bonds With Liberal Allot- ment of Common Stock on Initial Offering so as to Insure Participation in Earnings Security: 15,727 square feet of ground on New * York Avenue between 13th and 14th Streets, and an eight-story, steel, brick and reinforced concrete building to be erected thereon, conservatively ap- praised at more than twice the amount of the Bond issue. The estimated annual earnings are more than four times the amount required for Bond interest. Day Storage capacity 514 cars. Reservations will be accepted in the order received. Further information is contained in a circular which may be had on request. I;loyd’s Secqrities Corporation, Fiscal Agent Main 9726 RETURN COUPON LLOYD’S SECURITIES CORPORATION, 812 International Building, 1319 F Street Northwest, ‘Washington, D. C. Without obligating myself in any manner, please supply full information relative to WASHINGTON AUTOMOBILE APARTMENTS, Inc. : Yours truly, Name .cocmteseee - -« - Address