Evening Star Newspaper, July 17, 1923, Page 25

THE EV]IN’ING STAR ‘WASHI NEW YORK curB MARKET ||1]563819,142) Received by Private Wire Direct to The Siar Office TEXTILE MiLLS 60 | ON SHORT TIME, Living Costs Up 110.02 Per Cent Our 79, F irst Mortgage Notes Ave carefully selected ‘and placed on an absolute margin of safet. WHEAT BELOW § A SEASONED well " seoured. cent, INVESTMENT, returning 8 * per is offered to oarsful in- BLOW TO BUSINESS Fewer Orders for Goods in’ Southwest—Many Feed Grain to Hogs. BY J. €, ROYLE. Epecial Dispatch o The Star. NEW YORK, July 17.—The present break in the wheat market Is certain to affect business in the middle west adversely unless a quick and substan- tial reaction sets in. Gov. W. H. Me- Mo sters of South Dakota sald today. “Wheat at less than $1 a bushel means very great hardships to the srowers,” he continued, “for thelr costs are more than that. President Harding’s recent direct contact with the western farmers probably gave him 2 clear Insight into their problems which should result in sympathy to- ward the agrarian interests. Unless rellef comes before Congress meets, however, western representativés and senators are certain to put the Erow- ers’ cause before the country very forcetully." Fewer Gbods Ordered. The busiuess outlook of the .south- west for the next year hinges largely on the wheat market, according to bankers and business men of Kansas City. Already there has been marked slowing down in business deals in- volving future deliveries as a resuit of the slump in wheat prices. Unless there is an unexpected upturn in the wheat market fall and winter business wij) suffer extensively, they said, he break in wheat has not been regarded as an unmixed disaster by the railroads and elevators. R. G. Merrick, general freight agent of the Atchison, Topeka and Santa Fe out- lined this attitude today, whem he declared that market conditions were slowing down the movement of wheat and would result In distributing ship- ments over a_longer period of time than usual. He added that he was confident the middle west roads, par- ticularly the Santa Fe, would be aile to handle the movement this year without difficulty Plenty of Cars Available. ‘Missouri, Kansas and Texas rail- road officials agreed with this view, asserting that the car supply of that road was 25 per cent better than last year, as a result of repairs and purchases of new equipment. The prospect of speedy hanaling of the grain crop, they id, was better t at any time since 1920. Cars have been stored at advantageous puints H April, and 2,000 have been placed on_sidings for loadings since June 1 This number is beiny con- stantly increased. Roads of the northwest today re- ported an increase in the car supply Since June 30, attributed to a falling off in busin Plans for car disposal . and to prevent “kidnaping” of west- ern cars by eastern lines were dis- cussed by executives of the northwest roads and shippers who met today at Siouz Falls, S. D. The railroad ex- pect that car supply would be ade- yuake. “Railroads which traverse the wheat belt are ready with 32,000 { cars to move the crop” said E. J. Riley of St. Louis, director of car service for the American Railway As- | sociation .in that district are heading back shipments in the | hope of a price rally. Would Feed Grain to Hogs. H. Humberger, head of the exten- sion movement of the Kansas Agri- cultural College advised the farmers of that_state to feed their grain to hogs. . He explained that by turning their grain into fat live stock they would net §1 a bushel on thelr wheat. Already handicapped by shortage of labor, northwestern. farmers are showing keen anxiety over the threat- ened “strike” of Industrial Workers the World members. Twin Cities executives of that or- sanization assert that harvest hands will be kept out of Minnesota, Mon- tana and North and South Dakota unless a minimum wage of $5 for a ten-hour day is paid. An acute shortage of farm labor would be a #evere blow to the northwest. Prices May Go Still Lower. Reports of erop conditions in other countries indicate that the outlook for wheat prices is worse than it ‘was a year ago. The Indicated crop of this country i{s within about 5 per cent of last year's and Canada will | probably duplicate her 1922 bumper crop. In nine foreign countries, in. cluding Spain, Italy, Bulgaria, P land, Indi Japan, Egypt, Algeria and Morocco an increase of 16 per| cent Is indicated. Cable digpatches received in this | city today from Russia indicate a| forecast | | bumper wheat crop and large exportations of Russian wheat | to other European countries. ‘It fs | estimated that there still remain on American farms more than 35,000,000 | bushels from last year's crop. Market Flashes at Today’s Close By "Total freight cars placed in service i Al from June 15 to July 1 were £,646, the carriers reported today Products Corporation de-’ regular quarterly dividend of $1.75 a share on the stock, payable. August 1 holders of record July Tobacco clared the Imperial Tobacco Company u»‘mmj a per cent interim dividend on ordi- nary stock. The dividend is pavable | September 1. Now York bank clearings, $751,000,- 400; New York bank balances, $71.- 000.000; New York Federal Reserve Bank credits, $§54.000.000; Boston bank clearings, $61,000,000. Otis Steel six months ended June 30 net earnings available for divi- | dends and depreciation over $800,000 against Joss $615,000 for corresponding period 1922 Ohio Oil Co. reduced Wooster crude 0il 10 cents a barrel. This is one of central grades of crude ofl Sugar Company has 0 bags Cuban raw sugar at 5l cents, cost and freight, and | 15,000 bags Porto_Rican raws for July shipment at 7.28, equal to 5% cents. America hought 10, Babeon is out today with a state- ment against th= automobile stocks, advising thelr sale. The govérnment started in_federal district court, New York, a Sherman anti-trust sult against American Chain Co., charging it with attempt. ing to monopolize and restrain man facture and sale of automobile bump- ers in the United States. Endicott Johnson shows net profit for six months ended June 30, $2.- 321 harges equal 10 $457 a share on common. Charles M. Schwab, chairman Beth- Jehem Steel Corporation, told a repre- sentative of the Chicago News Bureau Association that his judgment is that business conditions in the country are on.a firm and substantial basis and there is no logical reasdn-for all the cautiousness -being displayed at the present time. “The “wholesomeness of business and banking _situation in the United States today is unprecedented.”” This is Frank A. Vanderlip's statement made to a representative of the Wall Street Journal. “Labor is more effi- cient than ever, wages high and un- doubtedly will remain high. We have a 100 per cent purchasing power and ]pmdlur:llcn is going ahead at high evel.” U i ——— measuring 105 ‘feet in lzn!‘th h-vc been c-u:m in tlu Ant- BY WILLIAM F. HEFFERNAN, NEW YORK, July 17.—It could not be said that the increased demand on the curb exchange today extended to the general body of stocks. On the contrary, the market for the. most Dfll'tgtla quict, with only special is- Sueg displaying renewed activity. But tat upturns in these few instances were worthy of note. Frominont amon these specialties were Hudson and Manhattan common and Hudson Company preferred. The latter ran over 2 points on very fow transactions. Inasmuch as it is la holding company for Hudson and Manhattan railroad and owns a sub- swantial block of stock, the rise in Hudson Company preferred was be- lleved to reflect the recent declaratio: of an initlal dividend on Hudson and Manhattan preferred. NEW YORK, July 17—Following is an officlal list of bonds and stocks traded In on the New York Curb Mar- ket today: Sales In thousauds. BONDS. High. bw. Close. 1081, w"« m"b 100% 1015 873 5% 4955 10735 Asso Sim_Hd'e 8% AtO & WSS, Can Nat Ry Eq 7s. 50 10715 o114 01 89 Sigs E 081 Oe A. 108% 94 Cuban Tel Deere & Co Detrolt City Detroit Ediso Vederai Supee on 8. 97 Fisher Rody @ '25.. 100% Fisher Body 64 Fisher Body 6% i Gair Robt T 0554 Galena Sig 104 100% 1047 ....‘...._._-....mm3==..-.... New Or Pub Sery Pub Serv of N J 3 Pub Serv El Pow 6 Reading Coal 4 Southern (al SONY s SONY 75 S0N NDARD 0IL 10 Atlantic Lobos 20 Buckese P L . 100 Continent Ol new. 25 Eurcka P L . 00 Hum OIl & Re )m P L Imp Oil of Canada. 55 Ind P L E 300 Iuter Pét Co, Ltd'. 13 200 Magnolia_Pet 13 100 Ohio Oil new 10 Prairie Ofl & 20 'penn, Mex Fuel Ih!l ES a1y = e an 10200 8 O Indi 10 Kor 10 Allied O new . 1035 Cities Service - 7 Citlen Service pid.. 3 Cities Service B efa 2000 it Serv Tt cf ser: T Cosden pfd .. 34 Creote sEndicate % Sty ber prd 11 Federal 011" - 1 Glen Rock 0 3 Gulf Oil of Pa 30 Hudson 011 o Himphirers Gif 0=} L gston Pet . oth Ofl N0 N | Washington Stock Exchange. SALES. Washington 55—8$300 at 93%, $500 at 93%, $500 at 03%, £300 at 3%, $300 at 93%. Washington Rwy. & Elee. gen. 65—84,000 at o, 2 Potomac Elec. g. & rel. 6s 193 101%. Potomac Elec. § 7s ref. Ts-$1.000 at 1043 $£1.000 at 107, $1,000 at 107, $1,000 at 107 $1.000 at 1 Capital Traction Co.—10 at 100%, Washington Rwy. & Elec. pfd.—10 at 7: ati 10,8t 72, 5 at72 AFTER CALL. Money—Call loan: d 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bl —$1,000 at . 8at 100 10 Tel., & Tel American Tel. & Telga. 45 A% costia & Foomas Auscostia, & Potomac . & F. Telephone 5 & V. Telephone of Va. City and_ Suburban pital Traction R. R. corgetown Gus 1st 38 Metrupolitan R Potomac t j e Klec. Cons. B8 . Elec. deb, 8s. lex. & Mt ron. haito & Aunap. s 7ov. Koy & Blec. 4. h. Rwy. Wash: twg. & Eloc. g. . o, MISCELLANEOUS, Cold Storage n Bark Hotel STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga- apital Tra. Capital Columbia Commerelai - Natioaat Bauk ‘of Washington. . TRUST COMPANY. Amerlcan Security and Trust. Céntinental Tru; nl EégEz:! FEELUEES Bl ingion Lonn’ and ‘Trist | SAVINGS BANK STUCK: EEEE oc! st e TITLE 1NSURANCE STOCKS. Col Title Insurance..... Som Bstate Title Tnsurance MISCELLANEOUS STOCKS. bia Graphophone, com. s St 7 'mu enthaler = teh Market Durant Motors of Delaware had another of it characteristic sharp up- turns resulting in an advance of | five points from the low of the first hour before the rise was checked. The shares were more active than in qver a month. Durant of Indiana also shared ' the advance. Little interest attached to oil stocks. Standard of Indiana held slightly under Monday's closing. The Kentucky stock was up & point at one time and Maracaibo, Mammoth and Southern, States were inclined to- ward slightly higher levels. Todd Shipyard gained substantially and Glen Alden coal responded with slightly better prices to renewed in- terest in this class of stocks. Reading Coal Company 8s fluctu- ated over a range of a half point trom the previous close. while the new 4% per cent and 5 per bonds sold at 88 and 87 respectively. 49 Mutual Ol wot ofs % 4 14 % 0% 4 nhle Oil & Gas 2 Omur Oil & Gas. 8 Penn Reaver Oil 2 Pennock Ofl .. entura (i 30 Wilcox 0Il & 10 Y™ 0nl INDUSTRIALS 1 Am Hawai 3 Amer Store 30 Brit-AmTol Brit Inter Corp A Brit Inter Corp B Bklyn City R R.. Buady Buds ... Celiudolid Co pf Centritugal 1 P Chicago Nipple . Chicago Nip B '} Curtiss Aeto C & I Dubilier * & Radlo. Durant Mot ... Durant Mot of Ind. Federal ‘Telegraph.. undation Co per 4 Gillette S 1. Glen Alden Conl odyear Tire ... snne M A Tpc pr Hod & Mans I R Hul & M R R pfd Hudson €o_pfd. Hydrox Corp Lehigh Pow M% 131 9% 1 1% 14 e evfl-_ at Sup Co of Pl NUY Tel Co pfd. Peertess Motor Radio Corp < .. Eadio Cory pfd | Reading Vo Hepetti Candy Reo Motor Roamer Moior . S0 C & T new Swite inter - odd Shiy g n Retail Cands B Shoe Mach Corn S Lt & Heat pr Wasne Cont Yol Taxi Corp ¥ ¥ st 10 Ariz_Globe Copper T Aiz Silver T oo 460 Belcher Extens | 56 Butte & Western anario Copper ‘andelaria Min ntigental Mincs Op Sin_tem ot 10 Cork Trov Cresson 3 ! Crown Reerw 70 Divide Extensio 1 Dolores 40 Fortana Mims siameia Coms .. aldneid Deep Stin : oldficld Florence ' ld Ntate 20 Harmin by R Top Nevaiia + Holftnger .. S ew Dominion Cop. ew Jerses Zine. Y Porcupine 5 Niplssing z i il Florence St Crofx Cons 10 Sl Quecn Min Corp 40 Sit Ki Div Min reor 4 %0 Am Gold & I 314 | head Gold ... { 30 Stewart ines i 0 Kutherland Dev Min edk Tnghes i Toe Relmant ... 3 Tonopah Divide ... 40 Tri_ Bullion O Tuolnmne .. .1 nited Imp Sines. | i 2 Unity Gold . 10 West Utah BOSTON, July 17.—Following is a 1 {of today’s highest, lowest and closing | | prices for the most active stocks deal: | Jin here ‘ reon Hill Min Comnor I T Copper Range . Davis_Daily East Butte . Eastern 8 Island Creek North Butte .. Old_ Colony . Inter Trinity Tuolumne T8 Smelt prd ntura Ol dort < o Warren Bros 20% Wolserine ... T ¢ ——— FOREIGN EXCHANGE. Tormished o W B ibhe & Co) g o (Quotations furnished DY awinal Sell. cheeks. loM 'lll’l! . London. pound Montreal, dollar Paris, franc . Brussels, franc Zurich, Copenhagen, crown. . Clristiania, erown’ Stockhoim, erown By the Assoclated Press. NEW YORK, July 17.—Foreign ex- changes irregular. Quotations in United States dollars: Great Britain, demand, 4.59 7-16; _cables, 4.59 sixty-day bills on banks. 4.563. France, demand, .05833% ; cables, .0534. Italy, demand, .0429; cables, .042914 Belgium, demand, '.04813%: cables, |y .0482. Germany, demand, 000004 1-16; cables, .000004 3-16. Holland, demand, .3922: 'cables, .3932%. Norway. de- mand. .1617: Sweden, demand. Denmark, demand, .1745; Switzerland, demand, .1745; Spain, demand, .1428 Greece, demand, .0272; Poland, de- mand, .000007 Ccechoslovakia, de- mand, .0300; Austria, demand, .0000143; Argentina, demand, .3925; Brazil, de- mand, .1057; Montreal, .97 9-32. TODAY’S METAL MARKET. NEW YORK, July 17.— Copper qulet; eleetrolytic spot and futures; 14%. Tin easier; spot and nearby. 28.00; futures, 37.75. Iron steady; prices unchanged. Lead steady; spot, Zinc_quite; Bast St. Lo €.10a6.15. Farm help is so scarce n".".&“z.?#..'."n‘.‘x.‘."u'. upon’ thelr wives und daugl {the rate of 1.800.000 barrel lan MARKS EVERY HOUR Forty-One German Printing Plants Work Day and Night on Paper Money. By the Assoclated Pross. BERLIN, July 17.¢Forty-one Ger- man printing plants, working day and night, disgorged 17,563,819,142 marks’ worth of paper money every hour during the fivst week in July, aceord- ing to figures available here. The to- tal paper currency circulation on 7 was 20,241,782,966,000 marks, July 7 an increase of 2050,721,616,000 over June 30. The aluminum coinage in circulation increased in the same pe- riod from 1,000,000,000 marks to 20,- 200,000,000, The printers are working in thres shifts covering the entire twenty-four | hours every day In the week. It ix unofficially stated that no note under the face value of 1,000 marks will be printed In the future, as it costs more than the note itself actually Is worth to print any of the smaller denomi- nations. The production of a 100- mark note costs many times its face ue, and a 300-mark note is worth IAD more than the paper used. A curio collector is said to be pay- ing from five to ten times the face value of certain old 100-mark and 000mark - notes, declaring those printed from copper plates are the mly ones acceptable abroad, as the cter ‘ones. printed from type, are refused because they are too easily counterfeited. This is discredited in | some quarters on the belief that counterfeiters would lose money by producing false notes of such low denominations. All the notes now aré being printed from type in order to in- Crease the output of the presses. The federal printing plant alome is able | thus to issue 14,400,000 different notes daily, while only one-tenth of this quantity would be possible if cunper‘ plates were used. Furthermore it takes six months to prepare one cop- per plate. Even the new million- mark notes, which are to be issued soon, will be printed from typ According to Montag Morgen, a new Berlin weekly, @ publishing house which is one of the plants of Hugo Stinnes, has a monopoly on the print. ing of currency under the control of the reichsbank. The firm sublets contracts to some thirty other printers. BIG OIL CONTRACT | REPORTED CLOSED By the Associated Press, NEW YORK. July 17.—The Califor- nia Petroleum Corporation, today, an- nounced it has closed a contract with the Standard Oil Company of New Jersey for the sale to the latter of 36,000,000 barrels of light southern California crude oil, in the next three vears. Deliveries are to be made at nth B. & 0. FREIGHT TRAFFIC SHOWS DECIDED GAINS BALTIMORE, July —An increase | of 787.590, or 63.9 per cent, is shown | in the net ton-miles reported by the | Baltimore and Ohio Railroad for the | month of May, the total for the month | being 2.020,367. against 1,232,777 13-‘] year. Other reports of the Baltimore and Ohio show that that company is| going ahead of the goals set by the | railroad executives In April. The| goals set by the executives included | average movement of miles | per day per car and an average load | of 30 toms per car. In May the Baltimore and averaged 23.3 miles per car per da excluding bad order cars, and xu{ miles per car, including bad order ! cars. The average load per car the Baltimore and Ohio was 32.3 tons, against 20.8 tons in May lasi vear | During May the Baltim bauled 321,000 revenue froight cars, | agat .000 in the same month last year. Of the freight cars hauled | this year, 207.000 were loaded on the | lines of the Baltimore and Obio and | 114.000 were received from connecting | {roads. DIVIDENDS. X g Comps HHF Phils. ¢ Poliman EX DIVIDEND TABLE. July 19— Cerro de Pasco, Juy 20— Allas Powder. pt. a... Brown Shoe, bf.. a. Columbian Carb. ctfs., q. Cubs Co., pt. Da Pont Powder. Du Poat Powder pf.. I Pont Powder pr. Exchange Boffet, a.. deb. Stores, q... of., a pf. aufmann Dep. Kelsey Wheel, Kress, §. M., ‘Stores. pf. (new). ash Motors, b . Camners, p. v Yellow Cab, mo. Yellow Cab B, mo. — SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Aluminum Co. of Amer. ‘American Cotton 01l s 1921. American Suxar 6s 1937 Amer. Tel. & Tel. 65 1924 Amer, Tel. & Tel. Anaconda Copp Nor. 54, Central Argenting Gentral Leather 5u Chicago Tel. Du Pont 78 1981 . Federal Sugar Ret: o & R. 8s 1031 | Kbamecott: Eivby, McNel VR P & B e ‘251: | 5o Rwire 2 water 011 6338 1931 ’{:’1:- Tank Car 7s 1930 . '8, Rubber 718, 1930. Western Union 6%4s 1036, Weatinghouse E. & M. T SCalled August 1, 1923. —_—— } controis {per {difteren: | Chalmers Company has just In Three Weeks By the Ausoctted Press. COLOGNE, July 17.—Living ex- penses increased 110.02 per cent in Cologne during the three weeks ending July 11. The prices of Tecensitien on that date were 27,454 times the average for 191314, fig- uring the mark at its face value. The minimum expense at which a family of four, consisting of two a boy of eleven and.a girl can ilve for a month is of- 77,647 marks. NEW LIFE INSURANCE BEATS ALL RECORDS June Figures 31 Per Cent Over Same Period Last Year, Reports Show. NEY YORK, July 17.—New life in- surance production by United States companies is continuuing its phe- nomenal ~stride with = accelerating pace as the months go by, June of this year registering an increase of 31 per cent over Junme of last year. The official report yesterday to the United States Department of Com- merce by the Assoefation of Life In- surance Presidents shows that $727,- 000,000 of new paid-for life insurance was issued by forty leading com- panies last month, as against $553,- 000,000 by the same companies in June of last year. The new paid-for insurance issued iby these companies for the first six months of 000,000, ing the of $760,000,000, or 24 per cent. This vast volume of new insurance for six months exceeds the new business of these companies for the entire year of 1918, which amounted to $3,478,-1 000,600. BIG POWER COMPANY 1923 amounts to $3,022.- against $3.162,000,000 dur- MERGER MADE IN WEST | Wisconsin-Minnesota and North | States Will Form One Very Large Firm. By the Associated Press. NEW YORK, July 17.—H. M. Byllesh & Co. vesterday announced purchas from the American Public Utilivies Company of control of the Wi Minnesota Light and Power Company es Power. esota owns and 71,800 sepower of loped hydroelectric power and 700 iles of transmission lines in western Wisconsin, supplying electricity to seventy-three cities and towns. Gross earnings of Minnesota company for the twelve months ended April 30 were $3,008, SIRUP MAKERS' AGREE cons ON STANDARD CANS! Eight Sizes to Replace Sixty Now in Use—Will Help Public and the Trade. b to The GO, July 16. manufacturers cent of the reed today a special meeti nation’s tion & here of the execu- tive committee of the Rational Sirup {and Molasses Manufacturers Associa- tion to standardize the packing*or lean units in which their products ar I Instead of nearly sixty sizes, there will be ualy eight standard sizes “The echange will be to every one concerned. Bliss of the Eliss Sirup R pany of Kansas City, “We will avold nd unfair competition Ives, the public and the It makes possible the lowest possible cost to the consumer. The can manufacturers are hearty co-operation,” said Milton ‘lymer of the Best-Clymer Company of St. Louis said George in BIG TRACTOR SHIPMENTS. NEW YORK, July 17 rth train load of tractor s of forty-three carloads, rve the farmers of Nebraska a nsas ng | | GILT.EEDGE 7% First Mortgage Notes ured on Improved D. C. Real Estate 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 Appraised by Warehouse Receipts and 811 Vermont Our a good conveni Quarter of a Century’ Without TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ———OClose.—— Be ber 15, 1923. wng‘:‘n lw‘:flg s September 15, ‘Q. .,,‘I}.mm 15, 192300 100 1-82 100 332 ber 13, 1923. o March 15, 1024 4&s June 15, w{a. 1925 . Steam vessels are _‘n-“ My llx tlmu »ulouumuu\ a Loss me period last year, a gain | consin- | the Wisconsin- | Sirup and mo- | representing 90 produc- | through action of! great benelit The Allis| shipped con- | National Mortgage & Investment Corporation Big Amoskeag Plant Announces Further Curtailment of Working Hours. By the Associated Pre; | MANCHESTER, N. H. July 17.—] Notices were posted in the mills of | the Amoskeag Manufacturing Com- | pany today of a further curtaflment. The totton department will operate | the first four days of each Wweek.| Between 10.000_and 11,000 operatives | are affected. The. worsted and me- | chanical departments, where about | 4,000 are employed, will remain on | full time. J NEW OIL GUSHERS START || BOOMS IN TEXAS TOWNS Speeial Dispatch to The Star. CORSICANA, Tex., July 17.—The bringing In of new gushers in this section and erection of extensive new storage facilities has brought trade almost to hoom proportions, KINGMAN, Kan, July 17.—The Phillips Petroleum Compnay, which established a record for lease owner- ship in a single county when it placed } 25 per cent of the acreage of Sumner The Service We Give Insures prompt cellecting and re- mitting of interest. All details can- ously. supervived. that the propert £y experlence extends over a period of many years without the loss of a single penny i either principal or interest. Notes of $250 Up to $5,000 Now on Hand Chas. D. Sager 924 14th St. NW. Main 36—Loan Dept. s o & e TR cent interest. No brokerage charged. 'Come in and let us explain our method county under contract, has extended its activities to Kingman county. HASKELL. Okla. July 17.—The Coleman-Nelson Company of ~Tulsa has taken over the inactive skimming plant of Southern Refining Com- d wil] turn it into a eas- d gasoline plant i i lEQUITABLE Co-Operatjve Building ! Association { Orgnnized 1 : 43d YEAR COMPLETED 1 Assets . 34,750,762 Surplus . . $1,207,281 The Time To Save Is Now Make up mind to put aside part of your salary and save system- atically with the Equitable. Subscription for the 85th Issue of Stock Belng Recefved Shares, $2.50 Per Month [lEQuITABLE BUILDING | 915 F St. N.W. |l JoHN JOY EDSON. Prexident FRANK P. REESIDE, Secy. de- | Of the Lenox Office Building Owners. inc. Jperating the T-story office building known ; 10% Preferred Stock Lenox Office Bldg., i 1323 1, Street Northwest I 000 anthorized. 30,000 sold_in advance of public offering. Koainder for sale at par, $100. FEATURES. Cumulative: prefs d dividends, 10%. i} P ety o Commen ' Stock Dividends. Vreferred as to assets after Ist trust ol Hetirable at $125 per share. OBJECT. The procecds of this salc are fo be used for (a) the retirement of existing ive of 1st trust, and (b) to uses of remodeling rest of build- scventh doors inclusive, for EXPLANATION. The owners of this building prefer 1o pay large return to individual investors thau stand the excessive cost of ) the wsial manner. The under urtailments and i ceond-trust and other lo be obtained from the al xources ave uaduly burdenspme and siderably more costly than_eves remely attractive Prefess without acs element of laflation oF tation Fiseal Agentn Edmund J. Flynn Co., Inc. Main 7258 1523 L St. N.W. | Money to Loan | H Secun-q by flr~( deed of trust on real estate | Jos eph 1. Weller 12 W ~ SECURITI | Make Construction Loans Avenue N.W. HOW TO BE ABSOLUTELY SAFE IN INVESTING Avoid widely fluctuating securi- ties which pay dividends or interest only under favorable conditions. FIRST MORTGAGES are non-fluctuating, They pay, 614%, return; are offered in short, ent maturities and are back- ed by over a quarter of a century of proven safety. B. F. SAUL CO. Main 2100 1412 Eye St. N.W. 100 Chapin-Sacks 7%, Pfd. at 7215, 50]0/Miller Train Control at 1 8 ;rsl:ern’l Finance Units at 5 Nat. Mort. & Inv. Units at 116. Thomas L. Hume. Broker 1412 G St. vestors, safety of principle and u turm, ‘prospect ment of full tion to you, 1f you sre with o e Wil o information ' without _oblig: Star office. Present yields of high-grade bonds tell the story of today’s investment opportunities. Let us wend our current recommendationx The National City Company Washington—741 15th St. N.W. Telephone—Main 3156 HARRIMAN & COMPANY 111 Broadway., New York WASHINGTON OFFICE COLORADO BUILDING Telephone, Main 1603 G. B. C}'HPMAN. Reeident Partner ON FIRST AT CURRENT RATES OF INTEREST| - /i MORTGAGES{ Lndall X ;%jnu & G 71207 &uucc&cal @qul‘ o MONEY TO ON DISTRICT OF COLUN CHEVY CHASE, MD.; 2% Interest LOAN IBIA AND RESIDENCES 7 H. L. RUST COMPANY 91215 FH STREET N.W: RRESPONDENT FOR INSURANCE COMPANY THE OF AMERICA The purchasers of our Real Estate Notes lock MAIN 6888 PRUD! First Trust them in a safe deposit vault and forget them Nothing to watch; nothing to worry about; no fluctuation of value. SAFE INVESTMENTS WITH A WIDE MARGIN OF SECURITY Paying 6 and 6127 (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 INFORMATION SHANNON - & Since 1906 LUCH —— MORTGAGE DEPARTMENT 713 14th Street N.W. for Best of local bank- ing references. Address Box 322-