Evening Star Newspaper, July 3, 1923, Page 15

FINANCIAL 38 Local Banks Show Loss In Deposits Heavy Withdrawal on Current Call s for Payment of Taxes Biggest Factor in Record for Period Ending June 30. Thirty-eight banking institutions of | the District of Columbia will show a lToss of $7,279.231.07 In deposits for the period ended June 30, 1923, as compared with the previous period ending with April 3 last. preliminary Teports received from accessible banks this morning showed. The controller’s call, as was generally expected, cov- ered the banking situation to the end of the fiscal year ended June 30. Generally speaking, it was a fore- gone conclusion that the current call * for statement of condition would show a huge los Heavy withdrawals dur- ing the past few weeks on account of tax payments, much of which has not as yet been redeposited, was a major item to be considered, while the Dis- June 30, 1923, $292.353.45 25,270,330.51 American Commercial and Savings. American Security and Trust Anacostia . ot Chevy Chase Savings .. Citizens' Columbia Departmental Distric ceasesscanane . East Washingion Savings . Exchange . seee Farmers and Mechanic Federal-American 5 Franklin Guaranty S International Liberty Lincoln Metropolitan Mount Vernon Munsey % ational Bank of Washington . orth Capitol National Savings Northeast Northwest Park Potomac Riggs Seconll ...k Security’ Savings Beventh Street . Terminal S Union Trust ..... Tnited States Sa: B8 ......o Washington Loan and Trust.. Washington Mechanics' . Washington Savings .. Woodridge-Langdon ... *Approximate. PRICES OF COTTON AGAINGOLOWER Selling Movement, Following Covernment Report, Press- ed in Today’s Trading. vings Exchange and Trust. ¥ 0 © A e g By the Associated Press. NEW YORK, July tures opened barely steady July, ; October, 23.90; December, 23.30; January, 23.12; March, 23.10. The selling movement which followed the * publication of yesterday's govern- ment report was continued in the cotton market this morning. Cables were lower than due, while the early weather news was favorable, and after opening barely steady at a de- cline of 15 to 28 points active months soon showed net losses of 30 to 40 points. with July selling off to 26.15 and October to 2 or into new low ground for the movement, © ORLEANS, July 3.—Cotton futures opened steady; Jul 26.69; October, 23.27; December, 22.93; Jan- uary, 22.85; March, 22.78. Cables were poor’ and the weather over the belt was considered favorable in the cot- ton market today, and prices were ) inclined to sag from the opening. Considerable liquidation on the long side appeared to be stimulated by the holiday tomorrow. In the first hous of trading prices were sent 35 to 47 points under the close of yesterday to for July and 22.95 for October. NEW YORK, July 3.—Cotton tures, 11: bids: Steady. July, 0; October, 23.74; December, 23.23; ked; January, 22.94; March 22.92. v 'ORLEANS, July 3.—Cotton bids: Quiet. July, October, 23.98; December, 23.65; y. 23.63; March, 23.57 asked. 7 to 23.69; December, 18; January, 22.85 to 22.87; March, Spot cotton quiet; middling, 2 NEW ORLEANS, July 3.—Cotton fu- tures closed at declines of 41 to 48 points. July. 26.29a26.30; October, 22.93a22.96; December, 22.80a22.65; January, 22.58a22.59; March, 22.46a 22.54. RAILROAD IN TEXAS UNDER NEW CONTROL By the Assoclated Press. W YORY, July 3.—Control of the International and Great Norther Rall- way Company passed into the hands of 4 group represented by Swartzout and Appenzellar, brokers, yesterday, through the purchase of 28,000 voting certificates for $630,000. The group now holds 38,000 of the 75,000 certifi- cates, it was sald, The block was part of the stock that was to have been sold to the St. Louis and San Francisco, but the acquisition of the road was prevented by an order of the Interstate Com- nierce Commission in May. The company operates 1,159 miles of railroad in Texas.. CLOSING SUGAR PRICES. NEW YORK, July 3.—Sugar fu- tures closed firm; approximate sales, 29,000 tons. September, 5.35; Decem- ber, 4.84; March, 3.93; May, 4.00. FOREIGN EXCHANGE. (Quotations furnished by W, B. Hibbs & Co.) Nominal Selling checks #old value. . today. . 4865 %3 Tondon. poun Montreal, dol Paris, franc. Brussels, Berlin, Rome," lirs Zurich, franc. Athens, Stockholm, crown. 2 By the Associated Press. NEW YORK, July 3.—Foreign ex- changes irregular.” Quotations (in United States dollars): Great Britain, demand, 4.55 15-16; cables, 4.56% sixty-day bills on’ banks,® 4.53%. France, demand, .0593; cables, .0693%. Jtaly, demand, .0434; cables, .0434%. Belgium, demand, .0503; cables, Germany, demand, .000006 % ; .000006%. Holland, demand, .3906; cables, .3909. Norway, demand, 4 .1612; Sweden, demand, .264i%; Den- /inark, demand, .1734; Switzerland, de mand, .1745; Spain. demand, .1418% Greece, demand, .0293; Poland, de- and, .000009; Czechoslovakia, de- wand, .0299%; ,Argentine, demand, 500; Brazil, demand, .1087; Montreal, D7 %, SRR ST S 3—Cotton tu- | rict real estate tax paid In May and | June, approximating many miilions, is placed in the United States Treas- ury and is not allowed to be rede- posited here, the country. Then, t00, heavy temporary with- drawals have been made recently in connection with the intanglble tax. A good percentage of the reporting banks, however, show commendable gains. This applies more generally to the savings institutions which ave enjoyed a normal growth during the period. It was pointed out that had the call come either a week before, or a week after the ending of the fiscal year, the banks accounts would have been such that a net gain, perhaps as large as the loss shown in the accompany- ing statistics, would have been ob. | talned. The figures in detall follow: April 3. 1923, $327.012.68 6,359,498.02 as in other sectlons of 946,244.50 232,424.51 9258 61,889.85 13,012.11 24.334.02 260,306.59 (4411401411 17 NaxT2288258 3 R e L ] o i b9 O b9 e 2 D 130 8 et D1 SRNSSHRENESINEREIEIES {TOO MUCH GASOLINE { WORRIES OIL MEN i Independent Dealers Being Forced Out of Market, Says As- sociation Head. By the Assoclated Press. CHICAGO, July 3.—The suggestion of J. E. O'Neil, president of the Prairis Ofl and Gas Company, for a conference of all lines of the oil in- dustry to dectde on a program to care for present production and mar- keting difficulties, was declared by L. V. Nicholas, president of the Na- tional Petroleum Marketers' Assocla- tion, to be unnecessary to prove the independent refiners and jobbers are being forced out of the market. President O'Neil's suggestion came from his office in Independence, Kan after he had been critized by Nicho- las for what was termed “a policy of restrictive buying.” O'Neil declared mid-continent pro- ducers without flush production claimed the present posted price of ofl leaves them no margin of profit, and he said the problem confronting the industry is not alone overpro- duction of crude, but also the over- production of gasoline. JUNE EQUIPMENT ORDERS INCLUDE 152 ENGINES NEW YORK, July 3.—Buying of rallroad equipment during June, ac- cording to figures compfled by Rall- way Age, comprised 1562 locomotives, of which'eleven were for export; fif- ty-two_passenger cars, all domestic, and 1,755 frelght cars, of which 160 were for export. This compares with 94 locomotives bought in May, four being for export, and 150 frelght cars and 99 passenger cars, all domestic. In the six months ended June 30 or- ders for locomotives totaled 1,797, of which 58 were for export; passenger cars 1,307, five being for export; and frelght cars 67,699, of which 305 were for export. LACK OF ORDERS HALTS NEW ENGLAND BUSINESS Special Dispatch to The Star. BOSTON, July 3.—Unmistakable signs of a general slowing down in business in New England are appear- ing. Labor troubles in the shape of the telephone strike, a lingering shoe workers' strike at Brockton and arbitration proceedings to settle the ‘wage controversy involving the street rallway workers here have contrib- uted more or less to uncertainty, but fundamentally the trouble in manu- facturing lines seems lack of orders. DEFUNCT CURB FIRM MAY PAY IN FULL | Jones & nger Report Only Margin | Traders Stand to Lose in | Failure. By the Associated Press. * NEW YORK, July 3.—A plan for settlement of the accounts of Jones & Baker, defunct curb brokerage house, on what was hoped would be a 100 per cent payment basls, was an- nounced yesterday. A protective committee of customers issued a report stating that “If the expense of litigation can be avolded here is every prospect of Jones & Baker making a 100 per cent payment to their customers and creditors in a reasonable space of time. The report said that the labilities of the firm did not exceed $5,800,000. The assets, it was said, would equal that figure. The only customers who stood to lose, the report asserted, were those who traded on margin. NEW YORK EGG PRICES. NEW YORK, July 3.—Eggs—Firm; receipts, 33,005 cases. Fresh-gath- ered extra firsts, 27a28; do. firsts, 24%a26; do., seconds. 22%a24; stor- age-packed, extra firsts, unquoted. Nearby hennery whites, locally se- lected extras, 10; state, nearby and nearby western hennery whites, first to extras, ' 31a39; nearby hennery browns, extr: 32a36; Pacific coast whites, extras, 38a40; do., firsts to extra firsts, 30a37%. 200 PER CENT DIVIDEND. . 3—The directorate ter National Ban one of the four in the group, has declded to recommend a dividend of 200 per cent for 1923, at the next | Lanston general meeting. The annual report of the bank shows a mnet profit of | ¥ 2,954,342,319 marks. I J. & THE EVENING STAR, WASHINGTON,' NEW YORK CURB Received by Private Wire Direct to The Star Office. BY WILLIAM F. HEFFERNAN. NEW YORK, July 3.—The market on the curb exchange today was characteristic of one preceding a holl- day. Trading for the most part was qulet with no important happenings in either direction. At the beginning the tendency was to continue the rally started Monday, but what buy- ing made its appearance shortly after the opening quickly subsided and thereafter the market turned dull and irregular. During the course of the first half session, however, Imperial Ofl of Canada at 97 went up a point and a half from the previous close. Stand- | ard of Kansas was another of this Broup to show decided improvement, opening two points above the Mon- day final. Standard of Indiana was supported for a time around the 56 level, but subsequently receded. Announcement that directors had NEW YORK, July 3.—Following is an official list of bonds and stocks traded in on the New York Curb Mar- ket today: Sales tn thousands. 1 Allied Packers 6x.. 9 Allled Packers 85 3 Alum 7w 103 3 Alum 7s new ‘5. 108 1 Am Lt 6a W't war.. 101 Am Sum Tob 7 100 2'Am - Rolling Mil 3 BAm T & T 65 '24... 1008 8 Anaconda 6x ... .. 1008 8 Anglo-Amer Oil Tis. 102 55 Armour Co Del 54s. K7 15 Amsoc 8im Hdw 6l4s 96 AUG & WIS 8D Beaverboard 8« BONDS. High, [ 673 Close. 60 67 103 105% 101 100 98, 1008 1001 1017 88y 2 44 i Low 50 o814 103 105% 101 97 - Heth Steel 7s '35 Can Nat Ry Eq 2 Cent Steel 55 ..... Charcoal Co Am 8. 5 Co Detrott City Ga Dunlop T & R 7x.. Federal Sugar 6s '33 Fisher Rody 6s Fisher Body 6s Fisher Hody 6x " General Pet fs Kennecott Cop 7s. .. Lig Win Lef r e Ts ille G & B Maracaibo Ofl 7w orrin & Co 738 New Or Pub Ser ox Ohlo Power b R. Penn Power & Li Pub Serv of N J 1. Pub Serv E Pow 6s. Slosa-Sheff 6s.... Salvey et Cle N Y 68l Swift & Co 8. 3 Tidal Osage 7s. TUnton Oil 68 B "24:. Vacuum Ofl 7s...... FOREIG Argentina_ T« King of Nether 6s. Mexican ~Gowt N Swiss Govt 55, U'S of Mex 4s. 1800 Anglo Am OIl... 500 Atlantic Lobos. Tuckeye Pipe Coutinent Ol ne 20 Cumberland P Lin reka P L.... iena Signal Ofl. 200 Humbie 0 & R new. 415 Imp Ol of Can. . Indlana Pipe Line. Intl Pet Co Ltd. n oy 2 08 Ol Kentucks Oll X Y new. shington Ofl. NDEPENDENT OIL STOCKS. 10 Allled Ofl new. 05 05 20 Big Indian Oil 14 14 o 10% 14 {Washington Stock Exchange SALES. goRsshington Bxy. and Flec. gen. 65—$500 at Washington Gas Light—10 at 48, 10 at 48, 110 at 48, 10 at 48, 10 at 48, 10 at 48, 10 at 48, 10 at 48, 10 at 48, 10 at 48, 10 at 48, 10 at’ 48, Riggs National Bank—10 at 648, 10 at 645. anston Monotype—10 at Mergenthaler Linotype—10 10 at 149. AFTER CALL. Washingtor Rwy. 3 Capital _Traction 5is—$1,000 at 983, '$1,000 at 903, $300 at 9035, $1.000 2t 90%: Washington 65—$1,000 at 93%, $1,000 at 93%. Capital Traction 5s—8500 at 96%. Money—Call loans, 5 and 6 per cent. Notice—This exchange will be closed tomor- row. BONDS. § Bid and Asked Prices. PUBLIC UTILITY. Bld, Asked. i 08 97 115 59 American Tel. & Tel American Tel. & Telga. 4 Am. Tel. & Tel. ctl._tr. 5 Tel. & Tel. conv. Gs. Capital Traction R. R. City and Suburban b Georgetown Gas lst Metropotitan R. . Gs. Potomac Elec. ist bs Potomac Elec. Cons Potomac Elec, deb. 6s. Pot. Elec. Pow. g. m. 8s 19 Pot. Elec. Pow. g m. & vef. Warh.. ‘Alex, & St Ver. On Waib: Az & e Ver on. Gan Ge:. Wanh oy, & Eiee, o ‘Wash. Rwy. Elec. g. m. MISCELLANEOUS, D. C. Paper Mfg. 6s. Riggs Realty ¢ (long Bec. Stge. & Bafe Dep. 6s. ‘Wash, Mkt. Cold Storage Wardman Park Hotel Os. STOCKS. PUBLIC UTILITY. SAVINGS BANK. Commerce and Bavin East Washington.. § Becurity Savings and Com. Seventh Btreet. TUnited State: ‘Washington Mechanics. L 88 o538 TITLE INSURANCE. Columbia Title.. liei"l-lluu Title. MISCELLANEOUS. \bia Graphophone com.. &?}u":m ‘Graphophons d. D. C. Paper pfd. Merchants' Tra: Me nthaler Linotype. - : ‘Monotype.. 45,791 D. O, TUESDAY, CHEVROLET JUNE SALES. DETROIT, July 3.—Chevrolet de- dellvered 44,463 cars in May, Inst in April. June sales were slightly more than 45,000 and July declared the regular quarterly divi- dend of 20 cents a share and an extra of 20 cents on Salt Creek producer: was reflected in higher prices for the stock. Goodyear Tire and Rubber, at 10, was within a half point of 'its low for the year. With the exception of Roamer, dealings in motor stock were unusually small. Roamer was actively bought on the statement that net profits for May were 345,044, i which {s equivalent to about $3 a| share on the outstanding stock, At; 11 it was at a new top, while Cleve- land, on very few transactions, touch- ed & new low. Glllette Safety Razor held around 250. Lgtest reports as to the situa- | tion at'the company's plant were to ' the effect that about 226 employes of | the blade department have struck, out ' of a total of 1,750 employes. i United Verde Extensiom, selling ex the 50-cent dividend, regained part of Monday's loss. New Jersey Zinc, at | 150, lost a point, while in others of | the mining stocks changes were un- important. Boston Wyo Oil..... Cit Serv pfd. Cit Serv pfd Cit Bery “I Cit Serv Scrip.... Creole Synd . : Englneers Pet Gulf 0il of Hudson Ol . Interstate Roysities tone Ranger .. .1 aibo Oil Mex Ofl ..... Midwest Tex 01l Mouut Prod 4 Mount Gult Mut OJ] vig cfs. New RBdford 01l ‘wi Penn Reaver Oil... LonunSE8Tammanmm Salt Ck Cons. Salt Ck new. Seaboard 0il .01l Sou States 011 new ... Allied Pack pr pfd Amal Leather ... Archer Dan. MW, Horden & C. Brit-Am ‘To_Cou Bkiya City 1t R 2 Buddy Buds = 3 Chicago Nipple. Cleveland” Auto. FIOP o 13 e 0 2048 1310 53 . 108 s - atl Sup Co of Del Y Tel Co pra. Radlo Corp . Stutz Motor . Swift “Intl Tenn Tobae: Todd_Shi Tn Pre &) Tn Retail Cands.. Un hoe M Cor pf.. U S Lt & Heat.... War Hat Mfg w i MINING. it-Col. Globe Cop. Belcher Divide — Belcher Extension. . Butte & Western nemsaeBosean ) Calumet & Jerom, Canario Copper . CandelarfsMin Columbia Emeral Cortez Stlver. Cresson Gold Dolores Esper . Emma Siiver. Eureka Croesus..... . Fortuna Mines ... Goldfield Deep Mine . ldfield Flor U R. reen Monster ardshell Min. Hill Top Neva Hollinger Homestake Ext Howe Sound Independence Tron Biossom Jerome Davel [l Kewanix Mining. .. 2 Mason Valley ...... Tesd ew Dominlon ew Jersey Zinc. Nipisstog Ohio Cop s Premier Gold Min. . Ray Hercules Inc. . Red HIll Florence . Rex Cons St. Croix Cons Siiverdale ........ Il Mines of ‘Amer Sil K D Min reor'd Silver King Cons.. Silver sales will be between 45,000 and 47,000, according to firm orders now on hand. Colin Campbell, vice presi- dent in charge of sales, says: “De- mand shows absolutely ' no signs of weakening and there is not a single cloud on the horizon. Leading plants are still going strong despite all tho pessimistic propaganda which has been hurled against them.” — T HE attractive bonds now av- ailable, warrant early attention to the investment of current funds. For more than 100 NATIONAL CITY Recommendations send for our July Offering Circular. The National City Comfimy Washington—741 15th St. N.W. "Telephone—Main 3176 EQUITABLE Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Save As You Earn. much in a financial way. Join the Equitable. Subscription for the 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSON. President FRANK P. REESIDE, Secy. Year So Am Gold & P.. Spearhead Gold . 3 Teck Hughes Tono Belmont Tonopah Divide Tonopah Extens Tonopak Min Tuolumne TUnited Imp Mine: United Verde Exi U S Conti new w. Wenden Copper . West End Consol.. .52 White Caps = SALE OF PIGGLY STORES IS ENDED| Firm Raises $2,500,000 Wigh! ‘Which to Meet Claims—500 Stores Left in 50 Cities. By the Assoclated Press. MEMPHIS, Tenn., July 3.—Sale of the St. Louls unit of Piggly Wigg! stores, announced yesterday, com- pletes Piggly Wiggly's “liquidation program” for the present, with the company “now in a strong financial condition,” according to a statement | issued late yesterday by Clarence | Saunders, president of Piggly Wig- | gly Stores, Inc. “The sale of the St. Louis stores brings the total sales of stores for | liquidation purposes to $2,500,000, from which we have realized $1,- 400,000 out of fixed assets, and $1,100,000 has been a sale of mer- chandise,” Mr. Saunders said in his | statement. He added the corporation has ap- proximately 500 stores left, located | in approximately fifty cities. —— MOON MOTOR EARNINGS. NEW YORK, July 3.—Net profits of the Moon Motor Car Company for May amounted to $126,432 before | taxes. " This brought the company's carnings for the first five months of the current year up to $671,704. AUTO DESIGNER ARRESTED. NEW YORK, July 3.—Jens C. Olsen, | said to be the designer of a racing | automobile, lmlh been arrested in Chi- | cago on .a charge of embezzling | $20,000 from the Frank Shepard Com= pany, New York publishers, police | were advised today. Olsen had been sought_since May, 1920. Money to Loan ANY AMOUNT Reasonable Charges on Trade Aweguucu. ‘Warehouse Receipts, Manufacturers’ Accounts, Short-Term First and Second Mortgages or Approved Collateral. American Finance Corporal Reinvest Your Funds in JULY 3, 1923 PORT COLLECTIONS UP. BALTIMORE, July 3.—Customs col- lections at the port of Baltimore for eleven months of the present fincal year show o remarkable increase over the same period of last year, ac- cording to figures furnished by Charles H. Holtzman, collector. These indicate an ncrease of 288 per cent over 1922. The total to May 31 was $9,248,187.08, as agalnst $2,629,- 824.17 for all of 192; Our Second Line of Customers Numbered among our customers today are many young men and women to whose parents we first sold bonds as savings. In numerous instances these young men and women were educated with the proceeds of con- servative investments of our selection. These young people compose our second line of customers, established after nearly twenty-five vears of painstaking in- vestment service to their families. Let us suggest conser- vative investments suit- able for your children’s savings. Baker, Watts & Co. Bankers Counsellors in Investment Edwin D. Flather Manager 813 Woodward Building WASHINGTON Calvert and Redwood Streets ' BALTIMORE Capital & Surplus. $2,000,000.00 WORTHY OF COMMENT € The fact that 42000 people bank here is certainly worthy of comment. Such wide endorse- ment ¢an point to but one con- clusion: name] that We Serve All with Satisfaction 9 Deposits invited in any amount—uniform rate of inter- est paid on small and large ac- counts. tters of Credit—Travelers’ Checks National Savings & Trust Co. Oldest Savings Depository in Washington Cor. 15th and New York Ave. L FIRST MORTGAGES The Safest Security on Earth Every mortgage less than 50% of whe ready market valus of the property 1 2. 3. 4. S. 6. 7. Absolute Safety. Reliable Security. Liberal Income. Insurance Against Loss. = Protection Against Depreciation. Prompt Payment of Interest. . Repayments of Principal in Full at Maturity. Convenient Denominations—Write or Call for Information WILLIAM S. PHILLIPS Fi 1409 N. Y. Ave. N.W. t Mortgage Investments Save and Invest We have to possess an intimate knowledge of Real Estate values to maintain this big business. Our First Trust Real Estate Notes bene- fit by that knoweldge. . SAFE INVESTMENTS WITH A WIDE MARGIN OF SECURITY Paying 6 and 6Y2% (PAYABLE SEMI-ANNUALLY) Shannon & Luchs First Trust Notes Built on a Straight Line of Return Not a Fluctuating Value Sold in Denominations of $100, $500, $1,000 FULL INIORMATION SHANNON & LUCHS MORTGAGE DEPARTMENT 713 14th Sireet N.W. FINANCIAL DIVIDENDS. Stecora, “All” Of Our First Mortgage Investments are placed on the most cop- servative valuation; never has one of our clients lost as much as a single penny in either principal or Interest. We collect and remit interest the day due, furnish insured title certificates. Can accommodate investors with amounts of $250 up to $5,000 or more, bearing 7% ine terest. “Invest in firsi mortgages and be safe.” Chas. D. Sager Loan Dept. | M. 36 92! 14th §£._ 1 Jul 13 $1.75 Augl Jull? 8-A $4.00 . Jul 1 Money to Loan Becured by first deed of trust on real estate. Pmnunwnmn and commission. Joseph I. Weller #20 W & Trust bidg., 9th & ¥ N.W. ] Home Furniture LOANS rom $50 to $800 on D. C. real estate, household goods or chattels. 7 per cemt interest. No brokerage charged. 'Come in and let us expiain our method - nce Corporation , 921 15th St. N.W. pyrighted & Patent Pending. 37 38 ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randall K Hagne: & Ca. 1207 Ganeclicat Benua GILT-EDGE SECURITIES 7% First Mortgage Notes Secured on Improved D. C. Real Estate Appraised by Experts of 35 Years’ Experience Without a Loss Offered in Denominations of $250 and Up A Good Investment. WILL PURCHASE First and Second Trust Notes Warehouse Receipts and Make Construction Loans National Mortgage & Investment Corporation 811 Vermont Avenue N.W. | ' HARRIMAN & COMPANY i Members New York Stock Exchange I 111 Broadway, New York WASHINGTON OFFICE COLORADO BUILDING Telephone, Main 1603 G. B. CHIPMAN, Resident Partner WHY SACRIFICE SAFETY FOR HIGHER YIELD? Rather than suffer possible loss of principal in the desire for an increased interest return, experi- enced investors prefer our FIRST MORTGAGES —secured on improved Washington real estate. Their return is liberal. Their safety is unquestioned. They form an ideal investment for funds, large or small. Amounts $250, $500, $1,000, yield 6%%. Payable in monthly in- stallments if desired. Write, phone or call for full information. Quarter of a Century Without a Loss B. F. SAUL CO. 1412 Eye St. N.W. Main 2100