Evening Star Newspaper, October 21, 1923, Page 33

FINANCIAL Washington Savings Bank Adds RANGE OF MARKET AVERAGES BUYERS HOLD OFF IN STEEL MARKET Copper Steadier—2Zinc Goes Higher—Weekly Review L E of Other Metals. By the Assoctated Press. NEW YORK, October 20.—While underlying conditions in the steel market appeared to be sound, there was a noticeable feeling of fervous- ness in some directions, and buyers operated less freely than expected during the past week. From the rail- roads a fair demand for ralls and other cquipment appeared, with more or less buying of structural steel and wire products, but bookings- ahead were slow, and buyers evidently an- ticipated a reduction in prices. An cased business was done with Ja- iron was a little more ac- . but remained easy. Copper was steadler, with an im- proved but comparatively moderate volume of business. It was reported supplies of copper carried in Germany by American producers for a long time finally had been sold, al- though there was some doubt &s to whether they had gone into the hands of consumers or purchased for resale. port business fell off, but domestic better, resulting in a ace in prices. Offerings irom second-hands remained small. Tin ruled firm, in sympathy with im- provement in London. Buying by consumers still was moderate, but de- mand kept pace with production. Lead was without much change, re- flecting @ good general absorption for quick shipment, but supplies appeared plentiful. Zinc made further advances, with not only a fair dgmand from domestic consumers, mostly for quick shipments, but also from Great Britain. Antimony was firm and higher on ght offers and the strength of the Chinese market. e PRODUCE MARKET. BALTIMORE, Md., October 20 (Spe- efal).—Due to continued light re- ceipts of strictly fresh native and nearby eggs. the market advanced to- day to 42 cents a dozen, with pros- pects of further advances next week, it receipts do not increase. A good and constant demand prevalls, keep- ing the market practically bare of desirable stock. But buyers are rather critical. and prompt shipments are advisable to command top values, as all held stock has to be sold at discount. The general live poultry market Tules easy, as receipts have run heavy the t ‘week. with demand only moderate. and values rule lower with prices mostly in buyers' favor. Large springers bring 22 a pound, small to medium, 20a21; while leghorns sell 17 to 19. Old hens are selling 22 to 25 as to size, 11 leghorns 17 to 18, Old s continue plentiful at 14a15. d for ducks Is fairly 00d run large and fat, and under only moderate receipts the ket rules ste. 25, but 11 and poor s le at 1. Pigeons e 5 a palr, but guinea fowl receipt and firm at 65 each for large and 40 to 50 for small. White potatoes contnnue in ample receipt, and under only fair demand some accumulations are noted, hence market rules .easy at 175 to 2.00 per hundred pounds. and 75 to 1.00 for No. Hundred-and-fifty- pound and 100 to . Sweets and ams in fz but ample for he demand_which is better for white yams than for sweets, but stock must run_regular to bring top quotations of 2.25 to 2.75 barrel, as ungraded stock will not bring over 1.00 to 1.25. 5 to 1.00, and ative and nearby garden truck still_cominf in fzir receipt. and with demand slow values rule easy on most lines at the following _quotations: Beans, 100 to 175 bushel. Limas, 1.75 to 2.25. Beets, 200 to 4.00 hun- dred. Broccoll and Kale, 15 to 25 bushel, Cabbage, 4.00 to 8.00 hundred. Savoy. 50 to 60 bushel. Carrots, 4.00 to 5.00 hundred. Cauliflower, 3.00 to 450. Corn, 12 to 30 dozen. Lettuce, 75 to 1.25 bushel. Onions, 2.00 to 3.23 per hundred pounds. Oyster plants, 6.00 to $.00 hundred. Peppers, 25 to 60 4-8 basket. Pumpkins, 5.00 to 10.00 hundred. Spinach, 40 to 65 bushel. Tomatoes, 40 to 50 4-8 basket, and 60 to 75 bushel for packing stock. Turnips, 40 to 50 bushel. The apple market rules easy under continued liberal receipts and only a valr demand prevailing for packed stock. Loose stock selling very slow and low. Standard brands of packed tock bring 3.00 to 4.50 barrel and while bushel , as to quality e’ stock will not bring over 150 to 2.00 barrel, 50 to bushel and 20 to 35 4-8 basket. Native and nearby Keifer pears are plentiful and meet with only fair sale “t 16 to 25 4-8 basket. LIVE STOCK MARKETS. BALTIMORE, Md., October 20 (Spe- cial).—With the exception of veal calves the general live cattle market rules quiet and easy, with values in buyers' favor. Receipts being ample and only in moderate demand, that Is centered on cattle of first quality. «alves in light receipt and in good demand, except where stock runs heavy and rough. Quotations toda «t Light Street wharf: ; Beef cattle—First quality, 1b., 8 to Medium, 6 to 7. Bulls, as to qual- ity, 4 to 6. Cows, choice to fancy, b to 6. Common to fair, 3 to 4. Oxen, a8 to quality, 5 to 6% MIlk cows, choice to fancy, per head, 50.00 to 75.00. Common to falr, 30.00 to 50.00. Calves, veal, choice, 1b., 12% to 13. Ordinary to medium, 10 to 11 Roug heavy, common, 4 to 6. Sheep, cholce, 5 to 6. Old bucks, 4 to 4%. Common, 2 to 3. Lambs—Spring, chofce, 12 to 13, ¥air to good, 10 to 11. %10 9. Hogs, straight, 8 t0 9. Sow. 6 10 7. Stags und boars, 3 to 4. Live pigs, as to s and quality, 8 to 10. Shoatk, as to slze and quality, 7 to . 1 the Associated Press, NEW YORK, October 20.—Cattle— eipts, none; steady; steers, 5.00a state bulls, 3.00a4.75; cows, a4.50. alves—Receipts, 75; steady; veals, 75a14,00; culls ‘and 0a8.00 buttermilks and grassers, 0. heep and/ lambs—Receipts, 200; steady; sheep, 5.00a6.00; culls, 2.00a 3.00; Jambs, 10.00a13.25; culls, 6.50a 00 Hogs—Receipts, non medium weights, 0a7.65; -heavy , 6.25a6.50. EXCHANGES DROP OFF. NEW YORK, October 20.—Foreign exchanges also fell back during the week on reports of internal disturb- unces in Germany and further diffi- culties in the way of a solution of the reparations question.' The cur- sencies of the Scandinavian coun- 1ries dropped to-new low records for 1he year in reflection of the decreased sndustrial and business activity re- sulting from the loss in German yrade. gteady; light —_— COPPER PRICES STEADY. NEW YORK, October 20.—Copper s been steadler during the past week, owing to the better tone of the London market and a slightly smproved volume of buying for both foreign and domestic account. The iemand seemed to be falling oft again toward the end of the week, but yrices were- quoted ‘steady today at 2% for electrolytic, with some of the producers asking 15.00. Tron un- £y ¢ hanged. Common, thin, | Iittle calves, | Two New Directors to Boar President Jarrell Pushing Betterment Plans--Better Business Bureau to Pro- tect Investors—Securities Prices. ‘The first material step In the re- juvenation of the Washington Sav- ings Bank since Thomas E. Jarrell took the presidency, several weeks ago, has been taken in the addition of two new directors, R. M. Hicks. and Miss Gizelle Goodwilllg. The di- rectorate now numbers seventeen. Mr. Hicks has been in charge of the Washington office of the International Mercantile Marine Company for the past twenty years, and takes a prom- inent interest in all local and civic | DX affairs. He holds membership in the Board of Trade, Chamber of Com- merce and Rotary Club, Miss Goodwlllig is assistant to_the president of the Acacia Mutial Life Assoclation. In this capacity she had had supervision of the sedurities of that institution, and has thys ac- quired an_extensive knowledge of financial matters. The progress of the Washington Savings Bank since Mr. Jarrell took the presiding reins has been note- worthy. Deposits have.increased ap- proximately $100.000, due primarily to the new head's personal business acquaintance, while an entirely new alr of initiative pervades the bank’s atmosphere. The offices of the insti- tution have been rearranged and new furniture and equipment installed. The personnel of the bank has also been enlarged to care for the in- creased business. Phone Earnings Very High. A striking example of the economic and financial development of this country’s premier utility is shown in the estimated report of the American Telephone and Telegraph Company for the first nine months of 1923. A surplus of $61,2 fter taxes and charges iy reported for nine months ended September 80, equival- ent to $8.56.a share on $715,454,300 average amount of stock outstanding, compared with $48.872,585, or $8.56 & share on $570,368,400 stock for the 1922 perfod. New capital put into the property has fully earned its keep, inasmuch the earnings this year are applicable to $145,085,900 stock than a year ago. It has always been the contention of the management that the com- pany _speedily earns additional cash for dividepds on any Stock {ssues which are utilized in adding to the plant. The company earned the whole years $9 a share dividend In the first nine months except for 44 cents a share. This means that the final quarters earnings will prac- tically be velvet to the corporation. These figures do not take into co sideration undivided equities in asso- clated companies’ profits. The nine months' figures indlcate that the company will earn for 192 $11.42 a share on the average $715, 454,300 capital stock outstanding, compared with $11.14 a share on $694,009,500 capital for 1 3 The mpany invested. in net ad- ditions to the Bell system’s plant in the first eight months of the cur- rent year over $15(,000,000, a record total, This will mean that in 1923 about $200,000,000 plant additions will be put into the Bell system. Thi compared with $185,334,000 in 1922, a record year by over $5.000,000. There is no immediate prospect for parent-company financing, as H. B Thayer pointed out some time ago that no offer of new American Tel phone and Telegraph stock would be made in_1923. At the same time tem of the financial size and com plexities as that of th B stem always prepared to take ady: - bond market conditions te look after growing financial needs of assoclated companies. At the momen! market is rather stagnant, but should conditions improve it would not be Surprising if one or the other of the associated companies indulged some new financing, although it is not contemplated at the moment. Unlisted Securities Prices. The following prices rule on the more | 1 | | | | | | 2 | through house organs and | i enced BONDS. Army & Navy Club 5 Cosmos Club” 4 Cosmos Club 4 City Club 7y Metropolitan Ciub 4%, STOCKS. Anacostia Bank .. American Com. & &8 l\lnk‘n% ‘Trust & Mortgage. Chapin-Sacks 8% pfd. Gitizens’ Savings Bank Connecticut Ple Co. Heurich Brewery .. Hotel Co. « Munsey Trust Co. orth Capitol Savin orthwest Savings Savings Bank . Bank. Kk Washington Title Ins. C Washington Base Ball Club .00 Better Business Program. The financial program of the Bet- ter Business Bureau is to be launched here during the coming week along the same lines as the successful cam- palgn conducted in New York, Cle rd e — —1921 1022 Q UAR. IPQUAR. 2° | land, Boston and other cities where | the Better Business Bureaus have promulgated the “Before You Invest, | Investigate” slogan. At a meeting just held of the board of trustees of the bureau, Howard M. Cool, director, outlined in detail the program and its history. Joshua Evans, jr. of the Riggs National Bank presided at this meeting. The “Before You Invest, Investi- gate” program had {ts {nceptioin some years ago when it was found that many promoters of fraudulent or worthless securities were legally and technically “within the law.” ~Pur- chasers of worthless securities often- times had @s the only means of res- titution in civil courts, which is not only expensive but rarely is it pos- sible to locate the promoter once the securities have been floated. Prosecution of _questionable pro- moters 1s seldom practicable. In some instances, companies are organized for the sole purpose of floating stocks and yet technically the company is a lawful ~speculation. While _misrepre- sentations occur, they are difficult to prove by testimony in court. Many stocks are sold by high pressure methods, the main selling talk being a promise of large returns. A prom- ise, however, Is not better than the one who makes the promise, and is not a guarantee of fulfillment. Alms to Protect Investors. It has been found, because of these facts, that to protect the Inexperi- investor from fraudulent and high pressure sales methods that a preventative rather than a cure must be evolved. The Better Business Bu- reau belicves that the great waste of money intended for legitimate busi- ness investments can be prevented by educating the uninitiated investor to thoroughly investigate the facts upon which ~all flotations of securities should be based. The bureau here provides in its finan- cial program: First. a thorough and repéated edu- cational campaign. This will be ac- complished through co-operation with | organizations and companies employ- ing a large number of persons, general publicity and through printed stuffers to be inclused in pay envelopes. Second, to aid Inexperienced and unitiated investors to investigate be- t the bond | fore they invest. The bureau will help them to obtain the fundamental facts, but will not attempt to advise either for or against any urity. in | There are certain facts which the experienced investor demands before he will buy a security, and the bureau will ald the inexperienced buyer of ecurities to obtain the same facts and will explain their importance to unlisted department of the Washing- | those who are unaccustomed to buy- ton Stock Exchange: ing sound securities. LIVELY WEEK ON CURB. | HOPE TO REDUCE WASTE. Several Issues Establish New High | Commerce Officials Give Aid to Records, NEW YOREK, October 20.—There were wide movements and heavy trad- ing In a number of Industrial issues traded in on the New York Curb Ex- change In past week, some stocks be ing established at new high record: The heaviest dealings were in Park & Tilford, which moved up 5 points to 31%. MeCrory Stores, new: stock, directly influenced by the extra dividend Friday and also made a gain of more than 5 points. Both thos stocks were established at new high prices. Candy Products, a new corpo- ration, was traded in when around 1. The motor stocks were in supply at concessions. Ford Motor of Canada lelded 17 points, to 417, and Checker 2 s down more than a point. re wide fluctuations again in Gillette Safety Razor, which advanced to 273, but reacted after that move- ment. Hudson Company preferred, owning a large amount of Hudson and Manhattan Issues, moved up more than 1 point to 17%. The coal group was traded in on a moderate scale. Reading issues showing declines of around 1 point, while Glen Alden made a moderate gain and Delaware, Lackawanna and Western moved up 1 point. Standard Oil issues were fairly well held in spite of the further reductions in gasoline In several sections. COFFEE FUTURES GAIN. NEW YORK, October 20.—The mar- ket for coffee futures opened at an ) !advance of 4 to 6 points and ruled generally steady on a very small vol- ume of business. December sold at 9.24 and May at 8.28, making new high ground for the movement, close was well up to the best, show- ing a net advance of 2 to 7 point Sales were estimated at 10,000 bags. October, 9.65; December, 9. 6?; May, 8.25; July, 8.02; September, 87, _— WHEAT POOL READY. CALGARY, Alta., October 20.—The Alberta wheat pool will recelve Wheat from its 25,000 signatories beginning Monday, October 29, it is announced by the provisional board of seven trustees. FLOUR PRICES FIRM. MINNEAPOLIS, October 20.—Flour unchanged; shipments, 62,846 barrels. Bran, 28.50a29.00. Wheat, No. 1 northern, 1.13%al.19%; Decembe 1.14%; May, 1.19%. Corn, No. 3_yel- low, 98a1.03; nominal. Oats, No. 3 wm;:. 38%ads8%. Flax, No. 1, 2.40%a 2.44%. GOODRICH CUTS PRICES. AKRON, Ohio, October. 20.—B. F. Goodrich Company has readjusted prices to new levels. Silvertown large-sized tires have been reduced approximately 15 per cent and Ford sizes increased. Company has re- duced cash discount basis from § to 2 per cent. MORE COTTON IN INDIA. India’s cotton acreage this year is 419,000 acres larger than a year ago an official cablegfam from Calcutta to the Department of Agriculture ye: terday shows. The forecast report: 17,831,000 acres, compared with 17, 412,000 a year ago. e @ s i The difference between a sign painter and an artist is that the sign painter eats. issued | | and the, March, - |t Hardware Men. ATLANTIC CITY, October 20.—Fur- ther standardization to eliminate waste in the manufacture of hard- ware was planned today by the American Hardware Association and the National Hardware Assoclation as the result of a visit to their an- nual convention here today of Irving S. Paull, chief of the domestic com- merce section of the Denartmanton;f Commerce, and A. E. Foote, head of the division of simplified practice. Speeding up of production also re- ceived attention, and will get fur- :r consideration from joint com- tees. Secretary Hoover sent his two al here to confer with mnnulu!:r‘::: and wholesalers on the movement of goods {;'omlme factory to consumer, n an effort to arran; - tion of needless coste® O cllmina: Dentistry in 0ld Japan. rrn_;.u the Manchester Guardian. he dentists in Japan’s large citie: have been tralned on western prin ciples and are as highly qualificd as could be wished. But in remoter dis- tricts and among the simple people very different modes of treatment exist. This 1s especlally true of dentists, and the Japanese who ask for an extraction from one of these will at least bo spared the sight of the Instrument of his torture. For the dentist pulls out the tooth with his fingers, and needs no Instrument at all. " Of ‘course it needs long prac- tice to be able to extract a firm molar by this means. And to attain it the dentist is apprenticed to a master. A board of pine wood lles on the ground; holes are bored in it, and in each stands a little peg of soft wood. These the student must pluck out with thumb and forefin When he is perfect n this he Is promoted to an oak board and oak pegs, then to seasoned wood into which pegs have been driven with a hammer. When he can remove these without twisting or shaking he Is qualified, and no wisdom tooth can_ withstand him. A capable athlete of this kind can extract half a dozen teeth in a minute without removing his fingers from the patient's mout # The Pilgrimage. From the Ohlo State Journal, When the falthful followers of Mo- hammed reach the Holy City on a pil- grimage they must be garbed in seamless cloth, must have four baths before they go to kiss the black stone, then must travel seven times about the city, three times running and four times walking, then must run up and down some of the sacred hills, then must go to Mount Ararat, stand on the summit all afternoon and repeat their prayers, then return to Mecca, on the way stopping at a village to sacrifice a goat, & sheep or a camel, then .cast seven stones at each of several cairns. Then they may shave and cut thelr nails, the pilgrimage having been concluded. MORE GASOLINE CUTS, DETROIT, October 20.—The Stand- ard Ofl Company of Indiana and the Sinclaair Renntni Company have met reductions of 2 cents a gallon by independents in Detroit. ot wisiorcudeair SN Jane Addams, the famous Chicago social worker, is mentioned as a pos- sible candidate for this year's Nobel e prize, to be awarded by the obel committee of the Norwegian storthing next December. The chart above shows the high an tive stocks dealt in on the New York St July, 1921, up to and including the week ending October 20, 1 represents 20 industrials and outline curve 20 rails. volume of sales of all stocks. Avera; Wall Street Journal. The Year 1923 to Date on the Washington Stock Exchange. Tp to and including Saturday, Furnished by W. B. Hibbs & Co.. Hibbx Building. Bales. BONDS. $20,000—C. and P. Tea of V. 62,500—Washington Gas 6.......... 4,000—Ana. and Pot. River R.R. bs.. 48,000—C. and P. Telephone 1st : 0—Capital Traction 1st 9,000—Clty and Suburban Ry. 1st 51,000—Pot. 139,00 : 31,000—Pot. 5 59,600—Pot. Ele 35,300—P. E. 58,700—P E. . 6s, S 1,500—Dist. of Col. Paper Mfg. 15,000—Riggs Realty (long) 4,600—Wash. Market Cold Storage 500—Wardman Park 6s..... Bhares. STOCKS. 3,139—Capital Traction 4.514—Washington Gas : 406—N. and_W. Steamboat. 5.988—Wash. Ry . com.. €,336—Wash. Ry prd... 25—Capital Natio; Bank. 424—Commerclal National Bank 86—District National Bank... 16—Farm. and Mech. Nat. 46—Federal-American Nat. 27—Liberty National Bank. —Nat. Metropolitan Bar ational Bank..... tional Bank rights 587—Amer. Sec. and Trust. 384—Continental Trust e a5—National Savings and Trust. #7—Union Trust ... 2 Loan_and Trust ' Bank and Trust 20—East Wash. Savings Bank 20—Sec. Sav. and Com’ Bank.. 20—Washington Mechanics’ 46—Firemen's Fire Insuranc 100—Columbia Title Insurance.. 41—Real Estate Title Insurance.. 1,427—Mergenthaler Linotype 1,794—Lanston Monotype 373—Security Storage 523—Washington Market UNLISTED DEPA B0—American Com. and Savings Bank. 30—Banking Trust and Mortgage 250—Citizens’ Savings Bank. 37—Departmental Bank . 3—Munsey Trust 200—Northeast Savings 46—Dist. Title Insurance. 76—Wash, Title Insuranc, HOW A POOR MAN CAN GET AHEAD True Stories of ‘Wage Earn Women Who Have \R._FPQUAR. 4™LUAR, s Bank.. Bank. { | | | | d low, by weeks, of forty representa- ock Exchange. from the first week of 523, Solid curve Lower sectlon indicates ges used are those compiled by the Octobher 20, 19: Open. 94 100% £ High. o a4 13 10 12 BUSINESS TURNS DEAF EARTOBEARS ?B.arometer Shows Some Im- provement—Exports Over- take Imports. Special Dispatch to The Star. NEW YORK, October 20.—A decla~ ration by President Coolidge that he | tavors a cut in grain and coal rates, a statement by Secretary Hoover that there will be no unemployment to speak of during the winter, the rise | of the Stresemann dictatorship in Ger- many and an announcement that the printing of paper marks would cease, | a_continued steady tone in the field of productive and distributive busi- ness, but a revival of the bear spirit in Wall street—these briefly were the outstanding elements of the week's business. Business Barometer. Food price index. Federal Reserye ratio. Moy ¢ y rates—Time. Commercial failure While there are no weekly figures of a deflnite nature on production, yet the curve is upward. Wholesale prices FI NANCIAL | Baturday Trading, However, Falls ! Off in Volume. NEW YORK, October 20.—While the | volume of trading fell off slightly, | the tone of today's bond markei im- Dproved sharply. Active United States government bonds moved rather £1ow. {1y with net changes practically nee gible. Little interest was dieplay also in the forcigm lssues, whi however, held firm. High-grade Ivestmeni railroad mortgages w bought in increasing numbers at m |erately high prices and the same was {true of the secondary Issnes. ¥~ Domestic Industrial lines, while no Iso active, also moved forward whole, the rally covering a widc sortment of bonds, O the few exceptions to the ups vement was the Kelly. Springficld 85, which i declihed fractlonally to a nt |for the year. It was reported t [offering of $2,000,000 ten-year cent covertible sinking fun eral trust notes of the Gillsbury Flo. Mills, Inc., of De 3 COTTONSEED OIL HIGHER. | NEW YORK, October 20.— seed ofl was active and higher, some positions reaching npew highs on urgent demand from short nd new {outside buying. nspi bull orop advices, firm crude and | strength of lard. After ad 16 to 25 points the market re ed little ‘under realizing sales, and Ithe close was 10 to points higher. Sales, 20.000 barrels. | crude,” 9.50 (sales): prime llow ~spot, 12.00a12.75; October osed 12.10; December, 10.80; March, 11.06; all bid by a at et Prime summer show a fairly definite movement | xd on mosi commodities. commodities also the curve is Cotton, copper, brick, wool, n plg iron, rubber and silk show improvement, ~ while there are de- in hides and roleum. “hanges in Europe's affairs are ap- parently for the bett It Is prob- ably a rable development that Chancellor resemann has become a virtual dictator for the time being, and has decreed a collection of taxes in gold, government retrenchment and ‘an énd to the printing of paper on Secretary Mellon and the experts of the Treasury Department declare that while conditlons are bad in Ger- many they are by no means as bad as they seem, and there has been a distinct advancement in other coun- Raflroad Situation Still Strong. In the domestic fleld stress is being scd on the railroad situation as a ait of Presid: Coolidge's decla- tion on the ¢ of reduced rates or coal and gra is, taken with the Northwestern road’s depressing statement, have given rise to some among the rail stocks. however, no o: s any prospect | Exports overtaken im- ports for the first ni ear, which will be ¢ many. However, independent of this country given an evidence of its ability to consume its extraordi- nary output itself in a way that has astounded observ ght, U. P. C REPLY BY PEERLESS HEAD Collins Admits Pay Totaled $6,250 Every Two Weeks CLEVELAND, October Collins, president Peerless md Motor Compan suits filed by David Rockwell of minority stockholders, seral denial of claimi pay 2 Collins ering news to (Co, News Service, Inc.) T back $587,500 re- ins M 20 bonus mon- im was based on @ that stockholders had not Collins _re: the contract was approved . “directors _and by holders of fifty Money to Loan Secure¢ by NFst deed of trust on real estats Presailing interest and_commisaion. of $100 and upn rexidences, the va v de 4 even by inexperi- ‘e motes are conservatively placed m nd and le chagers will find us ready to whether they wish to invest ARNOLD AND COMPANY INCORPORATED. . % 100 ers and Salaried Men and Found the Road to Financial Independence. By Samuel O. Rice, Educational Director. Investment Bankers’ A . ot ke curnern and saiaried men “Who have found the road to financial Thdependence. The second will appear in Mon- day’s Star.) That $200,000,000 cash balance Henry Fora s sald to carry, and how he got it, that's Interesting reading. It's Instructive to 'read how Jobn D. Rocketeller, Charles M. Schwab, George F. Baker, John G. Shedd and a score of other “shirt. ve” millionaires came up by thelr ooy “eheer, unaided ability. Maybe another Rockefeller or a Schwab or a'Baker can read it and find the way to go and do likewise. Millions of men and women, everyday folks who haven't Rockefeller ability, are asking themselves, “How can I get ahead, give more to my family, own & home, have an as- sured income for old age? To answer those questions I went to wage earners and small salaried men and women, mail carriers, teach- ers, ministers, clerks, a washer- Woman, and 1 have found a surpris- ing number who have accumuiated enough money to be wholly or partly financially indepegfdent. Their way of getting ahead is_doubtless more practical for the average person than that of Ford or Rockefeller. Every instance recited herein 1s absolutely true. The names are changed en- tirely, in deference to the wishes of thesa twelve, average, _everyday folks who have got ahead or are well on the road. 1 give first the post- man’s_story. He has er earned more than $1,800 a year, yet he and his wife could afford, and took, a seven-month vacation tour of Eu- The postman's story: don't get something —for ing,” said the postman. 2 e, big thing T learned in &y SATURDAY QUIET DAY IN DRY GOODS MARKET e " SORK, October 20.—Cotton YORK, October 20.—Co goods were quiet in first hands today. Gray goods were bought in a small way for spot and nearby use with some contracts under consideration. Yarns were barely steady, with trade moderate, Knit g00ds in general were quiet, the démund for hrushed sweat- ! serien of twelve {0 buy? can read ssociation of America ing to get ahead. I was an orphan at six weeks and a newsboy at six years. 1 found out terribly early that youve got to put_something | by for bad luck. I got $600 a year when I entered the postal service. I regularly put by at least 10 per cent every day. Put it in a savings account. When I'd get a few hun- dred dollars I'd put it in safe bonds. “How'd 1 know what securities I didn’t and don't. But I 8 the newspapers, can't 1?7 I've never forgotten that you don't get something for nothing. I know there are sharks waiting for unin- formed investors like me—read of fake oil promotions and bucket-shops in the papers. 1 simply looked and asked for reliable investment security dealers until I was sure I had a good dealer. He picks my investment se- curities. T didn’t pick my investments. I picked men who made a business of picking investments, and who I was dead sure were honest and knew (helr business. Thats all there is “How old am 1? Oh, not so old—I was in the Navy during the war. That was the first time we ever used any of our interest. My wife lived very comfortably on it while ! I was getting $30 a month in the Navv. Before that, every Interest yment went into savings and then nto more bonds. The second time Wwe spent interest money was when We went to FEurope after the wal We were In France, England, Ital Denmark, Germany ‘and Sweden for seven months. My investments yield around 6 per cent. 1 never tried to get “big interest. You don't get something for nothing. I ° never bought stock on margins. I've never | lost a penny in my Investments. I made it my business to get good,| honest investment advice from hon- | gt men who knew. Thats all there ers in first hand having quieted down. Capital, $1,000,000.00 Real Estate First Mortgage Investments 1416 Eye Street N.W. Phone Main 2434 e 2 We want you to open an with us. It need only be $1.00. For our Depositors we megotiate through the Commercial Losn and Finance Corporatio. $50.00 LOANS on houschold furniture or real estate " oent per veu oertifeaton of titlo, whore meces- sary, are obtsinable at very reason- bl exnense. BENEFICIAL BUILDING AND LOAN ASSN. 2213 14th St. N.W., near Fla. Ave. First Mortgage Loans. FOR SALE In Convenient Amounts at 61,9, interest Secured on Improved Properties JAMES F. SHEA 643 Louisiana Ave. N.W. “We” HAVE ON HAND IN DENOMINATIONS OF $100 Up to $5,000 A Limited Amount of Very Cholce First Mortgage Notes An Opportunity to Get the Only Absolutely Safe Form of Investment Yielding the Filling-in orders . were placed on underwear. Hoslery for spring sold | at close prices in staple lines. Raw sllk was easier. Burlaps were steady. Wool goods for men's wear were quiet and dress fabrics steady. SIS D Five prominent women were fined In one day at the New York custom house for bringing in fur coats from abroad without paying duty ou . Maximum Rate of Interest Full_particnlars apply Mr. O'Domsen toan Dept.. M. 368. CHAS. D. SAGER 924 14th St. N.W, months of the | as filed an an- ' on | They offer you: 1. Absolute Safety 2. Liberal Income. when due. 4. Protection against in Northwest Washington. Call, phone or write Shirst Mor! 913 15th Street NW 3. Prompt payment of Principal : l BETTER TONE N BONDS. | | Will Sell % 1,050 Miller Train Control at $2.85 Thomas L. Hume 1412 G St. M. 1346 An old-established and conservative Washington ‘corpora- tion desires a loan of twenty-five to thirty thousand dollars, doubly secured by downtown improved real estate and Cor- poration’s assets. Will pay eight per gent, negotiations to be conducted with principals only. Ad- dress B o x 338.T, Star Office. Invest Your Savings in Safeguarded First Mortgages and _Interest Depreciation. All our Mortgages are secured on in-town Modern Homes In Denominations of $100 to $5,000. for Preferred Li - rvestm Main 61y MONEY CHEVY CHASE, 912 LOAN CORR INS ESPONDF CE COM DISTRICT OF COLUMBIA AND 514% Interest H. L. RUST COMPANY 15TH STREET N.W IPANY TO LOAN MD., RESIDENCES MAIN FOR THE PRUDENTIAL MERICA OF COMFORT DIGNITY LoC We tractive semi-de given scant co. entire street, save one vour immedia roundings which of your home east a handsom use at a cost excece stately detached co if offered for sale. Elsewhere in t} five thousand dollar are laid, the alley be difficult to f 'S rer home would brin on But two of these homes remain street cars at Ingraham street and w Cojorado avenue. > fou ¥ of them and the roadway ¢ ideal surrol {TION SURROUNDINGS ion of these at- ire frequently pposite side of the there is afforded for aracter of the sur- pon the future va'ue ediately to the pleted for the owner’s han one-third and the west, occupied by the owner, re than double our price. imating Twent Sidewalks It would To inspect leave the 14th half a block west toward Open Until 9 P.M. * C. H. GALLIHER 814 Thirteenth Street N.W. Main 2404 Or Your Broker * Our places Without a Loss Main 2100 vestor. Partial Payvment Plan our FIRST MORTGAGES —within the reach of every in- You can make a first payment of $25 or more—then monthly payments of $25 until the $250 Mortgage is yours. You earn 6% % as you make these payments. B. F. SAUL CO. 1412 Eye St. NN\W.