Evening Star Newspaper, July 31, 1923, Page 29

FINANCIAL, INTENSE CONGER INCOTTON REPOR Government to Indicate . Crop Conditions as of July 25 Tomorrow. hY 5, ¥ BY J. C. ROYLE. @pecial Dispatel to The Star. NEW YORK, July 31.—The govern- ment report of the condition of the cotton crop as of July 25, which will be issued Wednesday, will be checked th the utmost care by the cotton ade and growers. Many of the cot- Yon experts consider the “par” figures of the Department of Agriculture, or key for finding the indicated yield, entirely too high for July in view of the unusual conditions which have oc- curred this year. Planters and southern experts feel that the present crop will not follow the usual course owing to late plant- ing. which, they assert, would bring to July the improvement the crop usually shows in June. The experts contend that the July par should be discarded and that for June substi- tuted. This situation has been called 10 the attention of the department and if the gourse indicated should be fol- lowed/the department figures may be lower than is generally anticipated by the trade. Doubts Normal Crop. Harry D. Wilson, Louisiana com- missioner of agriculture, says boll weevil damage throughout the south has made a normal crop impossible and that the government figures so far have heen too high. He and other commissioners of the cotton-growing Stutes will meet to discuss the situa- tion in Chattanooga on August 6. War on the weevil is being waged ith increased energy. Heavy ship- ents of calcium arsenate are being stributed throughout the southeast plants are being resprayed. In ad- dition, it is claimed that one million school children voluntarily will be a work ‘® the flelds this week as a re- sult of the “red bird" club move- ment, which, originating in South Carolina, has swept over the south- oast Hundreds of communit ng the clubs, members of the immature weevils from the Indi- dual plants much as the tobacco rm is fought. Weather conditions cotton in the southeast have been the best since spring Cotton dealers and mill men_all over the south are eagerly awaiting the spreading on the court records of information as to the amount of spot cotton now stored in the warehouses controlled by Frank H. Barrett and Barrett & Co., the largest spot cotton house in the south. This information was held as a profound secret after the failure of Barrett ten days ago, as his creditors hoped to continue to op- rate the business without court dic- They were unable to agree, and a receiver was ap- 2 are form- hich pluck T, pointed. Final checks will be mailed members of the Georgia Co-operative Cotton As- ®ociations- July 31, covering the sums resulting from the final sales of 1922 cotton handied by the association. President Conway of the assoclation pointed oat in making this announce- ment that the association through or- derly marketing and judicious export- ing since January 1 had secured for growers $10 to $25 a bale more than ices current during the dumping sea- sdn last fall. He predicted that more than 40,000 growers would be in the ranks of co- operative marketing associations in that state alone this year and that the spread of the movement in other parts of the eotton belt would make co-operative marketing a price factor of importance on_the handling of the 1923 crop. The outiook for the grain grower, bowever, has been further darkened by the practical certalnty that Canada’ eat crop will total between 450,000,- | h &0 and 500,000,000 bushels. Statistics thered by the Canadian Pacific rail- Way indicate a vield of thirty bushels to the acre in Aiberta alone. This means that a bitter contest is in prospect for world grain markets be- Iween growers on either side of the border, with much of the advantage in favor of the Canadian farmer. His costs are lower, his investment per acre of wheat land is smaller and his yleld per acre is from 27 to 30 per cent higher. Furthermore, he has the aid of govern- ment subsidized handling facilities. ) Washi Ca 10 _— ngton Stock Exchange. SALES. :u!pa;,;‘"{lxl:(/ Co.—10 at 993, shington Rwy, & Elec. 10 at 72. 5 at 993, PRL—10 at 72, 10 ALL. Capital Traction Co.—10 at 993;. Money—Call loans, 5 aud 8 per cent, BONDS. Bid and Asked Prices. PUBLIC UTILITY. American Tel. & Telga. American Tel. & Telg: Am. Tel. & Tel Bla. 92 Asked 921, 10213 034 118 City and Suburban Georgetown Gas 1st 5s.. Metropolitan R. R. 5s... sotomac Electric 1st fis tomac Elec. Cons. 5s tomac Elec. deb. 6s.. Pot. Elee, Pow. g m. i Yot, Elec. Pow. g m. Wash., Alex. & Mt. Ver. 5s. Wash., Alex. & Mt Ver. ctf. ington, Balt; Wash. Rws. & Elec. g. m. .. MISCELLANLOUS. Paper Mfg. 6s..... STOCKS. \ PUBLIO UTILITY. Amer. Tel. & Telga..... Capltal Traction, Washington Gas Nortolk & Wa . Rwy. 2 Warh: Rwy. & Elee. prd.. Terminal Taxi com... i NATIONAL BAN TRUST COMPANY. an Security and Trust . Amer curity Baok . Sforchant :\‘::fonll Bavings & Trust on Trust . Wehington Loan and Trast SAVINGS BANK STOCKS, and Saving e Washington Savings Hank Security Sav. and Com. Bank.. “ventb_Et. Savings Baok..... Tnited States e Washington Mechanics’ 80 FIRE INSURANCE STOCKS, Fire Insurance. Fire Insurance. . s Fire Insurance. Union' Fire Insuran TITLE INSURANCE STOCKS, Columbia_Title Insurance . 6% Jteal Bstate Title Insurance.... 120 MISCELLANEOUS STOCK3. Columbia Graphophone com. . 15 “olumbia_Graphophone pfd C. Paper Pfd............. rehants' Trans. & Storage. nthaler Linotype. Qutch Market com Dutch Market ptd Lanston Monotype Security Storage Washington Mark Yeitow 8ab ... *Ex dividend, | | ! lis Received by Private Wire . BY WILLIAM F. HEFFERNAN. NEW YORK, July 31.—Forced liq- uidation and further selling for short account resulted in still lower levels in oil stocks on the curb exchange today. Little interest was displayed in oth- er sections and the bulk of the trad- ing centered in the oils. These stocks were again unsupported on the way down, many of them reaching new low records. The general feeling now prevails that cutting or passing altogether of dividends on some of these stocks appears unavoidable. The bulk of the selling in the Stand- ard group took piace in the Indiana stock. forcing It_down to a new low record, around 50. Prairie Oil and —— NEW YORK, July 31.—Following Is an official list of bonds and stocks traded in on the New York Curb Mar- ket today: Sales in thousands, 5 Allied_Pa, BONDS, Tign. kers Ss.. 61% Aluin 75 new '33... 1061y Am Gay & Elec 6s.. 2% A Li 6s without w 1008 Am Roll Mills G 8% Am Thread Co 6n Anaconda 6e ... Anglo Am on i Ar'& Co of Del htgs As Sto Hardw Gis AG&WISS5. Beaverboard Se .. Balto 7s.. Textiles_S Deere & Co Tis... Detroit City Gas 65 Detroft Dun . F Lehigh Power Gx Wh, Le t es Ohio Power Penn Power & Lt Pub Serv of X 1 Pub Serv El Pow 6x Reading Coal s . Reading Coal 414x dlver et cle As SON Y Ot wift & 5u. Inion OIl 6s B 24 n Ol Prod S 'n Ry of Hav um Ol Ts.... FOREIGN 7 Argentina Tn : 43 King of Nether 65 10 Mexican Govt Gs. 1 Russ Govt 6ls 3 Russian_Gov 618 cfs 8 Swixs Govt 51 S of Mex 4s 6. o BONDS. 100 1017 0615 STANDARD OIL 18§ 400 Anglo-Am Oil.. ..... 1t 300 Atlantic Lobos.. . 300 Continent 01l new.. 10 Eureka Pipe Line Galena Signal Ol 200 Humb 0 & R new 10 Tilinols Piy Impl Ol of € 1400 Intl Pet Magnoila Pet Transit Prafrie O 70 Prairie P L 10 Solar Refin.... 43 South Pen Oil. 00 S O Ind.... 200 § 0 Kansas new.. 700 S 0 Bt 00 8 0 NY new. ..l 10 Swan & Finch 2000 Vacuum Ol new.. 4113 NEW YORK TRUST COMPANIES. 10 Equitable ... 190 190 Sales INDEPENDENT OIL STOCKS. in hundreds. 1 Barrington 04l 5 Boston Wyo 01 & 105 ] D I3% 118 6 Cities Service pfd. £2000 City Serv serip..... $4000 Cif Serv cons scrip Creole Synd . Derh 0 & Rpf w'i Engineers Pet . Esmeralda 0 G Federal 0il Gillilana 011 n Rock 0il Gult Oil of Pa.. Hudson Ol ... Humphreys Oil ... Keystone Kanger Lafayette Oil Lyons Pet Marland Mex Oil Midwest-Tex Mount Prod . Mutual Ofl vot efs w Brad Oil w i.. Notle Ol & Gas.. Omar 0l & Gas.. Penn Beaver Oil . Pennock Oil . y Can 0il & Ref alt Ck new anta Fe 0 & G board 0il States 01 107, &0 3% a1 il COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY EL PASO, July 31.—Buyers of cot- ton in Matamoros, Mexico, are re- ported to be paying 29 cents a pound for the staple, while on this side of the border, at Brownsville, the price 21 cents. The 8 cents difference the duty. The Matamoros being shipped to Mexico represents cotton is City. MINNEAPOLIS, July 31.—North- eastern Minnesota canners report a huge blueberry crop. begond their ca- pacity to handle this season. Large shipments are being made to other canning centers, as the berries are ripening fast. CAIRO, IlL. July 31.—The water- melon movement from southeast Mis- souri will start in earnest this week. Prices are advancing because ofehort- age in the south and melons now com- mand $1.000 a carload. The Florida crop is not expected to exceed 3,000 carloads. FORT WORTH, July 31.—June and July were marked by a heavy export ot flour from Texas mills into Mexico. Consular reports show these two months are the banner months in the commercial history of the two coun- tries. CHICAGO. July 31.—The first ship- ment of new crop China teas have just arrived here and now are in Process of distribution. These ship- ments were delayed on the way from the Pacific port of entry. CARTHAGE, Mo., July 31.—Settle- ments for zinc ore for last week in the tri-state field were on_the basis of $37.50. an advance of $1.50 over the Iast few weeks, Lead ore advanced $10 a ton, settlement being upon the general basis of $75.50. Curtailed pro- duction fs credited with causing the improved prices and the restrictions are to be continued as far as practi- cable. SEATTLE, July 31—There is not more than 10 per cent of the 1923 wool clip of Washington unsold, ac- cording to best authorities today. The highest price paid for fine wool grown in Washington was in the sale at 46 cents a_pound of a small clip de- livered today. WESTON, Mo., July 31.—Missouri tobacco growers are planning to mar- ket their product through the Bur ley Tobacco Growers Co-operative Association. Following a visit here of representatives of the association from Kentucky, Ohio and Indiana a committee of fifteen was appointed to conduct a signing uf¥, campaign DE_ETONSIS 3 THE EVENING STAR, NEW YORK CURB MARKET Direct to The Star Office Gas was subjected te sacrifics liqui- dation and broke five points. Losses of a half point or more occurred in Imperiol Oil of Canada, Vacuum and Galena Signal. Mountain Producers established a new low record following the publica- tion of the statement of July 30 show- ing current assets of $802,1568 as against current llabllities of $608.432 and profit and loss surplus amounting to $1,762,233. (Trading proceeded quictly in other of the olls, but with price changes mostly under yesterday's closing. Cleveland Motors opened a half point higher, then was neglected Goodyear Tire was traded in a half point above its low of the year. Hill Top Nevada remained one of the weak spots, making a new lo at 12, against last week's high of 92 Silver Queen gained one point. 2% Yentura Cons . 2% 2% Yo b Wilcox Ol & ‘Gas. 5% 5% INDUSTRIALS. Am G & E new wi 33% Ar Daniels Mid... Ar & Co of Del pid itridgeport Mch w i O Birit-Am Toh Cou.. Brit Toter Corp A t n DL & W Coni o0 Dubilier ¢ & Radic Durant Motor Fed Telegraph lette Saf Razo n Alden Coal Gioodyear Tire. Inter Contl Rubber. Lehigh Power sec.. Lehigh Val Coal.... Lupton, ¥ M ... Midvale Co . . Munsing Ine w'il] pfd "] Rtadin Corp ptd. Reading (. Reo Mot.. Rosenb" Con Cop Min tem Cons Nev-Utah Corter. Silver 7 Cresson Gold.. 50 Fortuna Mincs . 20 Goldfie'd Develop, .00 20 Goldfivld Deep Min .10 1 Goldnield Floren: 30 10 eld Jackpot.. 44 40 An Mine u'r 50 40 Hardshel Min...... .03 80 Hill Top Nevads Holling Hecla Mine ... Homestake Est Independence L Jib Cans 40 Kewanas Mining 20 Knox Divide 170 Lone Star ... 1 Mason Valiey . 10 McNamara .. National Tin New Cornelin ... New Dominion Cop eraey Zine.. ew York Por Nipiasin Ohio Copper ... 1 Ray Hercules Inc 0 Sl Queen Min Co Silver Mines of Am Am Gold & P 1 1 g Stewart Mines . Tono Relmont Tonopah Extens Tonopab_ Min a4 Eustern Tmperial Mines S Cont new w West End Cons Yukon Gold —_— BOSTON STOCK MARKET. , July 31.—Following is a list of today's highest, lowest and closing ices for the most active High o0 Am Tel & Tel Amoxkes| Arizona iloston & Albuny | Boston-Ele "alu & Ariz Calu & Hecla nor J T Hardy Conl Inland Creek Isle Rovale ... Mass Gas Mayflower 0 C fohawk t Leather . New Cornelia ... NYNH&H. North Butte Osceola ... Pacific Milis uiney ... Slloe Mach - Superior oston ... Swift Internat | nity ... T8 Smelt pfd Utah Apex Utah Con Warren Bros el | (‘H‘ICAGO STOCK MARI\’I'I’I'.» CHICAGO, July 31.—Foliowing is a ! i report of today's sales, .high, low and | closing quotations at the Chicago Stock Cxchange : S High. %5 Armour of Del pfa 6 5 Armour of 11l pfd 74 Smmonwealth Bd. 1 Hupp Motor . Stewart Warger Un Carbide & Carh_58% Yoow Meg B oo 242 10 Yellow Taxi - % Total watex, 2,000 shares. BOND ISSUE BEFORE COMMISSION TODAY! | | f Close. 86 i 128 i~ 833 53 Low. 8% 7 1274 i5 82% i 240 90 | Oyster Formally Places Plan to Finance Urgent Improvements Before D. C. Heads. i ! Commissioner Oyster formally placed | before the board of Commissioners at its meeting today his approval for a bond issue to finance the urgent | permanent improvements needed in the District which cannot be provided | in_current appropgiations. Before taking any action on the | plan the Commissioners, it was said, will make a detailed study of what | improvements should be made with'| the revenues from the sale of bonds. Mr. Oyster has suggested nine out. standing improvements which he be- leves could be provided by the bond igsue. Engineer Commissioner Bell also has suggested several. BARTLETT PEARS DROP. Fancy Peaches Slightly Higher To- day in New York. Special Dispatch to The Star. NEW YORK, July 31.—California bartlett pears were in heavy supply and prices declined, however, the de- mand was active particularly for fancy stock. Approximately 52,5 boxes sold from $2 to $2.%0 per box of about 40 pounds, depending upon size and quality, as well as condition of fruit. About 7,000 boxes of Gravenstein apples from California sold from $1.35 to $2.65 per box. Alexander appies brought $1.85 to $2.35. The market for fancy peaches was slightly stronger under rather light receipts from Georgia and prices aa- vanced, ~Alberta peaches sold from $2 to $3 per crate, containing six 4- guart baskets. Approximately 10,000 boxes of peaches from California in 15-pound boxes sold as follows: Tus- cana, 90 centsto $2.25: oranxe.cliug, $1.05 to §1.75, and Alberta, 65 cents to 3L16. idropped. PERGENTAGE DRIVES BANNED BY LEGION Department Heads Insist Posts Get Every Cent of Money Donated. Proceeds from future donations for departmental or post campaigns of the American Legion in the Dis- trict of Columbia will be turned over 100 per cent, it was decided at the meeting of the executive committee of the District department last night, when the Costello Post contract pro- viding for a promoter to raise $100,- 000 on a fitty-fAifth basis was declared ancelled No promoter on any percentage basis or publicity agent will in the future be engaged by branches of the leglon. It was stated at last night's meeting that the Costello Post had been the first to use such a method of raising money in Washington. First Instance Here. Commander John Lewis Smith of the District Department of the Amer- fcan Legion, declared the only money ever before paid out of the net pro- ceeds was for advertisng. He point- ed out that every cent of the funds collected for the Graves' Memorial Fund and for the memorial trees ( markers along 16th street extended. {hiad been handed over In its entirety for he purposes raised. Commander Smith stated that he Lelieved the whole matter happily settled. that Commander Waiter head of the Cos- tello Post »d il avvisedly. On mot Iter Bruce Howe. commander of the Gardiner Post, the utive committee voted that in the all drives and campalgns be approved by the executive body. John Lewls Smif Lester Jones. James A. Drain. Watson B. Miiler, Dr. Sul- livan and Mr. Howe were appointed a_committee to determine the policies of future campaigns. Mexsage To President. The following telegram was sent to President Harding by the execu- tive heads of the District department, following a proposal to that effect b William ¥. Franklin: “The American Legion of the District of Columbia learns with deep regret the serious illness of the Hon. Warren G. Hard- ing, President of the United State We pray to the Almighty God for the speedy recovery of our belaved Presi- dent An appeal of Maj Thacker V. Walk- er. deposed commander of the George Washington Post, was brought be fore the committée. The appeal wa ordcred to be sent to Julius I. Pey ser, judge advocate of the legion here, and to come up at the next meeting of the committee as unfinished busi- e The date of the department conven- tion was set for September 7 and 8 F. PRINT CLOTHS LOWER. Oriental Raw Silk Also Takes Tumble in Trading Today. Special Dispateh to The Star. NEW YORK. July 31.—Except for nibbling here ‘and “there trading in the cotton cloths market was Inactive today. Sateen prices receded slightly Twills ‘were neglected the 64 by 60 having been quoted at 31z and the 68 by 72 at 10. Oriental raw silk also tumbled to- day. In Yokohama prices were oft sixty ven and little trading was done. Business here was slack. SUGAR MARKET QUIET. NEW YORK, July 31.—The early raw sugar wmarket was easier, but there appeared to be no buying in- terest and no fresh busines was reported. Cubas were offered at 4% cost nd freight. equal to 653 for centrifugal The continued poor consuming de- mand for refined sugar and reports that Java gar was being offered on the P fic coast without attract- ing attention led to renewed heav. general selling in raw sugar futures, with prices midday showing net declines of 12 to 20 points. The market for refined was un- settled and pirces were unchanged to 10 points lower, with all refiners now listing at 8.2 for fine granulated. MONEY ON DISTRICT OF COLUMBIA AND CHEVY CHASE, 5%2% Interest H. L. RUST COMPANY 912 15TH! SEFREBET LOAN CORRESPONDENT FOR THE PRUDENTIAL INSURANCE COMPANY OF AMERICA Save and WASHINGTON, Print csmh:«{ D. C, TUESDAY, BALANCES IN TRADE VERY NEARLY EVEN Commerce Department Gives Out Important Export and Import Figures. While exports and imports of the United States during June came close to balancing after several months which showed unfavorable figures for this country, detailed figures given out at the Commerce Department to- day indicated great variations in the trade as it involved individual coun- tries. To Europe the United States sent $50,000,000 more In goods than it im- ported, while from Asia this country took $55,000,000 more than it sent South American territory imported $24,000,000 in merchandize from the | United States and sold this country $36,000,000 worth. The following comparisons of ex- ports and imports by grand divisions and countries were given: Grand Div. June Exports. Eurpoe ... §140,027,n North Ameri, 2 South America June Imports 212 RAILWAY WOULD ISSUE $10,000,000 IN NOTES Kaneas-City Terminal Asks I. C. C. | for Approval—Another Line ‘ Seeks Trackage. { The Kansas City Terminal Rali road Company asked the Interstat Commerce Commission today to ap- rove an issue of between $9,%50,000 and £10,500,000 of 6 per cent notes, and the pledging of $13,783,000 in first mortgage 4 per cent bonds as secur- | ity. The existing i ssue, amounting to $9,850,000 falling due on November | 1 next, is to be refunded by the tr; action The Gulf, Colorado and Sant Fi railroad asked the commission today for authority to acquire trackage of the Galveston and Western railre To. in Galveston, Tex. tracks have been operated by Gulf company since 1909, and it proposes to acquire ownership them th now, of 3 CORN AT 90 CENTS. July Option Reaches Point Pre- dicted by Bulls. CHICAGO, July 31. — July corn touched 80 cénts a bushel today at ](he finish, the goal which bulls had predicted.” Other months. however, iwere casfer, in line with the late &et- | Joseph 1. Weller JULY 31, 1923. BAR SILVER QUOTATIONS. | LONDON, July 31.—Bar silver, 30%d | per ounce. Money, 2% per cen! Dis- | count rates—Short bills, 3 per cent; three months, 3%a3 3-16 per cent. NEW YORK, July 31 —Bar silver, | 62% : Mexican dollars, 47% ¢ RN MoxioahdoliAct Tpe Money to Loan ANY AMOUNT ble Charges om Warehouse Recelpts, Manufacturers’ Accounts, Short-Term First and Secon Mortgnges or Approvea Col- Iateral. American Finance Corporation Commerc Nationnl Bank Bldg. Home Furniture LOANS From $30 to $300 on D. C. real estat household goods_or chattels. 7 per cent interest. No brokerage chargzed Come in and let us explain our miethod of making small loans. Commercial Loan & Finance Corporation Room 211, 921 15th St. N.W. System Copyrighited & Patent Dending. B Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. 420 Wash. L. & Trust bldg.. 9th & F N.W. Our 79, First Mortgage Notes Are carefully selected and placed on un absolute margin of safety. The Service We Give Insures prompt collecting mitting of interest. All details cau- tiously supervised, that the propert; is properly cared for. adequately i sured, toxes pald. Certified insured titles' furnished without cost. Our experience extends over a perfod of many years without the loss of a mngle penoy iz elther principal or fn - Notes of $250 Up to $5,000 Now on Hand Chas. D. Sager and re. 924 14th St. N\W. Main 36—Loan Dept. back in whaut. Corn eclosed tled at % net lower to an of 2 cents, with September FIRM REORGANIZES. John H. Wilkins Company Files Bill of Sale and Deed. The reorganization of the John H. Wilkins Co., Inc., was completed to- day by the filing in the office of the recorder of deeds of a bill of sale and a deed, transferring all the company’s property and assets to a new John H. Wilkins Co.. a Delaware corporatién, with the equivalent of $1,000,000 wu- thorized capital. The new company will continue the business with the same officers, the reincorporation being for the purpose of providing additional capital needed in the rapidly growing business. Applic: tion will be made to list the stock on the Washington exchange, it is s: BUTTER IS LOWER. CHICAGO. July 31.—Butter Creamery extras. 40%:; standards, 40 extra firsts. 38a39; firsts, 36a37; sec- onds. 35a351;. [Eggs higher; receipts, 23,937 cases.. Firsts, 2413a24%: ordi nary firsts, 2212223 storage pack. ex- Jtras, 26a26ly; storage pack, firsts, 125a25%. lower o TO LOAN MD., RESIDENCES N.W. MAIN 6888 Invest Suggestions —to guide you in the selection of securities to meet your require- ments as to marketa- bility, interest return and maturity date may be had by sending for our August Bond Recommendations. The National City Company Washington—741 15th St. N.W. Telephone—>Main 3176 EQUITABLE Co-Operative Ruilding Association Organized 1879 43d YEAR COMPLETED Assets - B Surplus ..$1,207,281 Join the Equitable and Save Systematically You will the most find frectis systematic method our plan of saving. Subscription for the 85th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. NW. , JOHN JOY EDSON, President FRANK P. REESIDE, Sec?. FINANCIAL, T —— 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.WW. . MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST l%alu{afl’ H ‘%’j”"” &£ e, . 1207 Grnecticut (Bcnue — ) Speculative secur a high rate yct the chance of losing your principal average person other hand, safety by placi Over a -however, in such case y« Quarter no interest retu of a It is wise i both of safety and yield 3 FIRST MORTGAGES Centur Without —have been yicld a Loss g interest consistent wv B. F. SAUL CO. Main 2100 1412 Eye St. N.W. IRST MORTGAGES Secured on Washington’s Best Homes in N.W. OFFERS The Oldest, Safest and Highest Paying Investment Obtainabie Dem. $100, $250, $500 and $1,000 WRITE—PHONE—CALL For Descriptive Booklet “S” S. PHILLIPS . rst Mortgage Investments Phillips Bldg. Ww. 15th St. & K N.W Main 4600 The Scots Have a Prover “Aye, keep somethin’ to yversel’ ye wouldna tell to ony.” That’s your bank book. On every page there should be something better than on the page before. And every bank book should have a happy ending. On the last page should The purchasers of our First Trust Real Estate Notes lock them in a safe deposit vault and forget them. Nothing to watch; nothing to worry about; no fluctuation of value. E SAFE INVESTMENTS WITH A WIDE MARGIN OF SECURITY, Shannon & Luchs First Trust Notes Built on a Straight Line of Return Sold in Denominations of $100, $500, $1,000 SHANNON - & LUCHS Paying 6 and 6152% (PAYABLE SEMI-ANNUALLY) Not a Fluctuating Value FULL INFORMATION Since 1906 MORTGAGE DEPARTMENT 713 14th Street N.W. be: “Continued in our next.” Every Banking Service : 3% ON SAVINGS Bl MERICAN SECURIT AND TRUST COMPANY j 15th and Penna. Ave. Catital and Surplus, $5,400,000.00 H BRANCHES. Central 7th & Mass. Ave. N.W. Northeast: @ &h & H Sts. N.I%. Southwest: 436 7th St. S.W. Northwest: . 1140 15th St. N.W. ‘ COMMERCIAL . o