Evening Star Newspaper, October 27, 1923, Page 15

FINANCIAL., NEW YORK cunnmmr«» 1 5000 D00NEW CARS *IN194POSSIBLE Indications Point to Increase .In Automobile Output—Big- gest Sales Factors. BY J. C. ROYLE. Spectal Dispiatch to The Star. NEW YORK, October 27.—Expan- #ions &t the Ford factories indicate that the 1924 output of Ford cars and trucks may be far closer to 3,000,000 than the 2,000,000 vehicles which the company will turn out this year. The numbers which other large manufac- turers plan to make and sell will nearly equal the Ford estimate, 80 that the combined expectations of\the automobile trade wil total around five million cars, all told. The Ford company has begun & large addition to its foundry plant at River Rouge, which will make a daily output of ten thousand vehicles pos- sible. The three new ovens being added to the glass plant will increase capacity from 11,000 feet of .plate glass a day to 50,000 feet. As the glass supply has been one of the face tors limiting production there do not seem to be any obstacles in the way of boosting present dally vroducllon by a thousand cars or &0, Pians of Other Firms, 000 a day the 1924 output wm!ld’rewh approximately 2,500,000 cars, while at 10,000 daily the output would _total 8,000,000, on & basis of about 300 working ays a year. In ad- dition, Chevrolet, which sold 89,400 cars Inst month, counts on selling three- quarters of a million next year. Over- lJand expects to dispose of around 300,000 and other makers are oqnully ontimistic. These estimates, of cours will be subject to heav. ling down, but if four million cars are disposed of this year, it hardly seems possible that more can be sold next vear. Yet the Ford officials are confident that the demand for their expectéd output exist and only onco in twenty years have they erred in judging fu- ture demand Salés Another Big Problem. To whom is this tremendous volume of cars to be s0ld? Replacements ¥ill account for many of the cars dis- posed of. Replacements in 1822 to- taled 1,400,000 vehicles, according to current estimates, but In the first months of this year replacements ap- pear to have accounted for over 1,20 000 cars. If the scrapping of old cars continues ‘at that rate nearly 2:400,000 cars will be accounted for by the close of the year. On December 31 over 14,000,000 cars | and trucks will be in use. ss of this year. ate of seven vears as the life of has been dlscarded, for dealers are that the {nclination of car owners to scll to the junkman is far greater since the recent reductions in prices. nce the prices of new Cars have me down there is not the same incentive to fix up the old car. The trade expects scrappage next vear {o a per cent of the total use. this confiection one of the best executives in the business said today: “Replncement ls the thing which is going to make sales of four to five million cars & year very likely. Cheap automobiles will be iike paper towels, figuratively speaking. We will use them and throw them away “Only a year or 8o ago we thought nothing of standing for a 3600 de- preciation every year. Now we can buy a Ford for $880. Why shouldn't people buy a new Car evefy year when the cost new approximates the de: atlon they formerly had to pay? Tycrease in the population of ths cofntry and the normal growth fn the fncomes of the Inhabitants arc expect- ed to account for six hundred thou- gand cars, without reference to ex- pansion in the use of the motor Tehicle. That expansion, according to many makers has mot yet begun to reach its zenith, in this country. Tn addition, there will be & strong campaign waged in 1924 for foreign business. This, it is estimated, should take care of 300,000 cars as exports have been FuRning at about 10" per cent of production ‘tbis last summer. - Lower prices are cxpected o ald exports, as duties Wil be less and in some instances shipping costs will be reduced. —_— Washington Stock Exchange. SALES. Washington Gas s 33,1000 st 1003100 100_at 100%. 100 at 100 at at 10k 108 ac 10085, 1064t 309%, 100 100%, 100 at 1003 nlugion Ratlway & Eleetric Pra10 at T Vashington Rallway & Dlectric 4a—1,000 at 0% 100 3 AFTER CALL. Copital Traction 5s—8$1,000 at BONDS. Bid and Asked Prices. PUBLIC UTILITY, | American Tol. .: ‘Ereel I &1 oslin & Fotowmne ds. etia & Potomac AT, Ds.. one of V. Teiephone o action R. R. Wasl \\nnhxn::un Gur'e sbington o Ry &t T e g8t 0. Mkt :"J:n‘;mln o atet auee STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga..... Capital_Traction. Washington 6 B & Elec. a5 “" - & lec, pde. NATIONAL BANK. District and Mo ¥ armers 5 Lo ‘Setropoiita.. TRUST Lom’u!. American Security & Trust..... “Crusd . Continental Lrun =8 iy SAVINGS BANK. Yiatiosat Uaioa. TITLE INSURANCE, 7 s % . Recelved by Private Wire. BY WILLIAM F. HEFFERNAN. NEW YORK, Ooctober 37.—The curb. market today was not affected by the \{ unsettlement on.the big board. There ‘was no selling of consequence in any. direction. On the contrary, the tndi- vidual moves were mGstly. upward. Prairle Oll and Gas provided the fe: ture with & jump to 185%. JAt.thia figure it was up 13 points from yea- terday’s low and over 323 points above the low of. the year. - The riss . ap+ peared to be connected with the ru- mors of consolidation with the Pra- ducers and Refiners, the impression belng that Prairie Ol the better of. the, deal gy The erratio Duunt Motors, which NEW YORK, Octol =] is an offoini tl;u;t"fl;u;: and ochs e ¢ le New York Curb Mar Bales in 5> 30 30 3 B> “gzgs [3 2322823 352538 =x3os3aeinesSeaniBasitiess v !hlwllltl 'l Bolvey e . Bflnhlm c-m Ed 8 u 80 AR Y Sun Of1 T8 Bwitt & Co fs Tidal Osage 78 .. Tnion Ol & B Untt Ry of Hav Vacuum Of1 7% FOREIGN BONDS, Qee Axjebtite Sk vt 08N ther 0s. N xmnn Govi'te %i 1% n Govt bl 83 -ssgzgz)%}* TS of Bales BTANDARD OIL IBSUES. in units 100 Anglo-Am 011 . 50 Gal 8! 178 Tmp Oft of Gan 900 Interl Pot Co Lt i 9% fuien I YDEPENDENT OIL STOCKS: PRICES OF WHEAT GAN DURNG WEEK Possibility of More Flour Ex- pqrts to Germany Helpful. Setback in Corn. BY the Asscciated Press. CHICAGO, 111, October 27.—Higher wheat prices this ‘week have come about ‘largely from assumed. likeli- hood of United States government help for financing wheat and flour exports to Germany. Compared with s week ago, wheat thiz morning showed %e% to 2% net gain; corn was 1% to 53 down; oats, unchanged to 3% higher, and Dl‘vvlllonl, at 12 to 67 advanc Imptoved prospects for an interna- tional conterence of sconomic:experts to_deal with German reparation pay- ments tended further to. give an ad- vantage to wheat bulls and 3o, ‘too, did unsensondble. cold weather in Argentina. Settlement of difficulties about reg- ulatione for Randiing wheat shipped from Canadiah ports on ‘the great| lakes was at first ‘helpful ln JUGETY wheat values here. Later, However, the effect was to bring lboult selling of wheat in Chicago against buying 2t Winnipeg, essing down values in Chicago. Readjustment of the corn market from the old crop to a mnew crop chiefly responsible for de- Oats were stesdied by_the firmi of wi Excellent lhlpplnl demand put the provision market on the upgrade. BOSTON STOCK MARKET. BOSTON, Omhel' 37.—Following is a st of md-y- lowest and clos- ing prices for most active stocks dealt In here: g Am Tel & Tel 8% o Ty Feadn .t Rt 148 RS |45 0% b Ay W L1013 2013 - 101% &% kY 26! w} n;fi B 29 5% , -low icago .x'.“‘ "a“.i'."" %?’ !l & : 1 :.“..55'-' By i i 1 WA BIM Yflll" (ll llIeA. Hlk ‘hares. e In_ India s»nxmmy‘.nooo 000, people live on one meal More than 20,000 steamers, tugs and barges ply the River Rhine, mmunosuo.u. ings whlo\\ the l{%‘nn oommi khol ghares we Tise. hel v o llnlrio “ofl ufam":t i mnnly higher over 65, of New gain. Thl bll7|n( movement’ Whi hld cropped’ out i utusl - Ol ‘before the “close Frld"‘ eontinued, umbla ‘il returned 4037, which Park. - Corporation, the former nud t uT:d‘tha latter to 40, 1 Beaboard 011 43 fion States Ol 1 an QU © Vestura Cont *INDUBTRIALS, idgeport wl Eas ¥ iy Drit-Am_Tob & A Z25% e FEEE Frrg Saees.. dhs 579728 sez!;.;gg. 7 £ ‘.— R R R S 828 580, 08! * 3. e mwdoeBeelansrad e Bunaneeee 1215 # e’ a Sel 5 B0 - 3 2120102 e % 8! 2 =‘s;..:é'sa= FEEFE 2 Ay Lead o Amtertatioe Lfi o 110 Boston Mont~ Gorp. 2 Canarlo Copper. 0 Fortuna . Mines 10 Goldfe! lfl 70 Goldtield Deep Sin 82 Goldfield Flotenice. . . 10 Golt flfltm Jackpat A 10 Gold Wedge Dy Ms 1 Homestake Ext 3 Fowe Sound . 0 Independence 1 Jerome V. Devel . 7 Mason Valls evelop sw Cornelis W Do-unben [Cop 2%’ S‘s‘.’xf.‘;-_g_‘s.'z's:n.zv 2 R I PTURE INDISTAY IS AR Famous Players’ Stock Tum- bles 12 Pomts—Produohon Costs Called Too Great NEW. YORK, October 37-~High costs of'production and the desire to turn film inventorles into “cauh, E. 3. Ludvigh, secretary-treagurer of the Famous Players-Lasky Corpora- tion, announced yesterday was re- sponsible for -the :Company’s -suspen- sion’ of” operations—a policy “ which Hkely will be followed in the early future' by ‘other ‘motion picture con- cerns, including the Universal .Pic- ture, Corporation. Announcement of the Famous Play- ers’ decision to curtail output resulted in a ‘sharp break of 13% points in the price of the stock on the New. York Stock. Exchange. _Opening at 60, an overnight loss of more than § polints, the quotatign at one time' declined. to 53%, closing at 53%. - Trynsactions totaled 49,000 shares. Declaring that “the cost of gnaking pictures has”got away from s Marcus Loew, head’ of the Metro Pictures - Corporation and the Loew Theater Circylt, predicted - that the action of mous " Players:Lasky would be onl¥. the beginning. of Wide- spread curtallment ‘of operations, in tho picture industry. Officlals of the Universal Plcture ~Corporation ad- mitted their intention te- .come .as close tg actusl suspension a3 release cnnuac > would perniit. Other < film producers, including K ptuum t of Goldwyn -Pics Tire Co?o Hy c} Schwalbe of the Fi N.uonn fetires Carpon- tion, “H.¥ Warne: Brothara -n¢uomem- ot iim Corporatlon regent ' schedyl ould be’ cai ‘they admitts industry were NOTED' AUSTRIAN PRINCE HELD ON FRAUD OHARGES i DENVER, . d | change from moderate [umvtad the title of Baron von Gabel- stein, owing to matrimonial: Olillll.. m.fltl. is under arrest-hers. - e #ot into trouble” with the Dolics | med of three mm-mu-o"l tries attempt! i to sell his Illlc and mu too many. soclally am- m & nephi ouss nd;gz::u ey orn.u uou oud udrat! fessio! !w e:purg-dts door aflun | e aryoreg iny s, '&u? mm ‘bafore eng it to aq number of tio Ill -nl wulthy women and collecting -dowries fro: them in agvance ool on’ L :fi‘ob:ahnu mnq u-dtn falge- ’r.~ e | Boad of the ‘revolutiyn 1 )re-war ren A ‘man 13’ excusable ‘for bom{n‘ that he never had occasion to vis dentist. and | York got lbove 01 1m ] lite. 1 trom his first & little and has put Ahey ' Norake | much n was prodn HOW A Nfik MAN CAN GET AHF.AD TnnStoriuo(WmE‘mumdSclniodemd Found the Road Independ Women Who Have Finuoul By Samitel O. Bdyeationa! Director, l-v'-mnh-h:-hmmum (mummu« kh- ‘g tar.) E""“""" to Suas wii dppaer +In_s small Ilinols city thete is an | man eldefly couple lving In. coniented comfort in their own home, with their 'own ear (a good one), and with: the satlsfaction of having put their only son through the University of Mithl: gan and glven him a good start in «In the same town 1s an ea- pennive factory, bullt from stook: sub- | scriptions ‘of the town's residents, and fdle and gathering dust almost from the day it was finlshed. The maximum salary of the slderly | shrewd. head of this little famlly has never been more than §136 a month, but rnings he has sa farm mor e, at first; later, imto bonds. H:.‘.:v i m nnldl I"m ve y!o oent, That- 18 zho nuru o! hl- rl‘unn in ability a good education. easé -and oomfort and to, d" his son romoters came to that town to lrln['lt n great new indus- try, and all h ighbors went wild ":|Business Situation Confused =~ As Stocks Continue to Tumble, Downward Movement Led by Special *| Groups—0Oils, Coppers and Textiles Weak—Store Sales Good—the Outlook. ) BY STUART P. WEST. Special-Dispated to Thd Btar. NEW YORK, October 37.—The end of another week finds financial opih- ion in mueh the same muddied state {in which It has been for the lut month. Heads of big business continue to expre themselves optimistically over the future. The recognized data, such as rallway car loadings, the sales of the large retall organizations and cormmercial bank clearings, con- tinue to indicate an unusually large volume of trade. Yot the curity markets fail to respond. If there has been no general weakness, still the principal price movemente have esa downward 1t is no_woh the publio should be mutlnu by thl- contradictory evidence and that business men should ‘stick to their policy of not buying beyond immediate needs. Dowaward Movement l-- leetive, 1’):. Wall street movement, despite all, ssumed a more logical chlr- et had & month ago. Then prices were being driven down indls. criminately, in obedience to a blind and unreasohing peasimism. Now & process of sslsction is avparent Tns security markets are distingulshing between the favorable and unfavor- able in particular industries. Stocks representing a strong earning powsr, and dlvidends which are reasonably assured, have bee sistance. ‘The lo curred in individual mur- may hu exaggerated the facts, some in- stancda, but for the most part they sre Sfplainadle on the gro o conditions known satistacs fory. or nr&nntulo iy helr special. lines "0 l-nn Situation Comfused. It is still impossible to define the business situation as a wl\olo It hu to be separated into units and cussed ‘from 'the Individual poi of view. ndustries have been hard it oy se In wagss and in creases !rlc. advances. consumer throus! hers_has bsen overproduction _and BRADSTREET’S REPORTS FAIRLY GOOD TRADE By the Assoclated Press. NEW YORK, October 327.—Brad- street's today sa) Despite irregu- larities due to weather conditions or the urge of conservatism, the latter bred ely by price uncertalaty, the general volume of trade and the pace of industry is fairly well mlln- tained and apparently about equal this time & year ago, when, it will be reclllnfl. business. was moving for- rd {n about the best voluma reach- ed since the spring of 1920. Warm weather . e HY in the week, with heavy ru‘xy n wide areas mldwly of that pi and cool bracing A mosphere later on, have tended to lend sn ifregular ap) r.rlnc‘ to retail trade, Which nees steady. cool weather for its best expression. Job- bing trade, on immediate delivery ac- count, 8’ reported about as good as at any.time-this fall. ‘Trade:in pri- mary channels is .under the check- rein of conservatism as regards spring, and. beyond. Fine Is Not Feared. LARCHMONT, N. YA-—RM!ntly five bricklayers were fined $6 aplece here Por Working on the Sabbath: “Thy M1 right’ they ot the bitle. “Coun the dou le overtime wo make $36 ey Sunday's work.” COMMODITY NEWS " ‘WIRED STAR FROM ' ENTIRE COUNTRY CHICAGQ,. October 37.—Sales of all kinds of jewelry for the past month have excesded- previous records,-not ohly in shops handling jewelry and novelties exolusively, but in depart- Sounting for ut. Vigorous In interior points has wtd down -Mpnnn to tidewater. October 17.—The sudden ‘o severs wine wmm this week resuited in & gesble pick up in demand l A g %‘ny i RLEM A% nt :ho noutn' “ survey fraka " This fX 3 0 per: cent of t !our times as '.fif R, &Ill DetnMr 27—, re are Mrvuunl‘ the big- p in N*r’ g olght ‘wholes POBMN‘D chb.r 17— r. u wlud lou at n.l‘ to 31 16 3 red_pounds for No. 18 1 or less for No. 2s, or mo: jed “! commerctals. < v It ind .| sen to |account will be posaible. In the me: 27.—A| lence. to buy stool this man stayed out. was tnu o e said, that the lin Ih o) Inu‘ judgment was correct. The romenr- pnt up, a0 expenaive fac- E’ could ‘They didn't lvm their own monay. More- over, they kept back, for promotion expenses, & hrn and handsome sum bt hem wel a they were.too ey let the loelhuldur factory——th: ‘hons n me good En-i nts, but stocks )ro-mlld by -lnnp.flnmod. althoush “honest, men or by =hi qunouu are danger- ous, to say the least: XKnow that the man from whom you buy spcurities is | & honest and experie: | consequent mevere competition. In others—and this seems to be true of the oPity—output hak kept with- ounds of - Incoming orders. gument of dwindling or ex- rofit margin: n fal general. Demand for Steel Improves. Bumming up by individual trades the demand for steel has been better, in October than it was In September It has increased sufficiently to turn the balance In some departments from excess output to excess new business, while in other departments it has not. Production of crude oil | Iflmnm :nd to run somewhat shead of | ema The ponition as shown in the quar- lorly reports of the leather companies very unfavorable and the ! Imanufacturers are suftering from t extravagant outturn of last spring. Under the flood of low-cost South Amorican copper prices continue to sag, and here, too, there is an ad- verse relation betweon supply and d mand. Tire prices are at the lowest on record thé outlook In the tex- tile trad is uncertain. Chaia Steres Dolng Good Business. All this has been reflected on the stock exchange In further downw | readjustment In the stocks of come panies engaged in these lines. -On the other hand, retall business, as répre- sented by the chain stores, the de- partment stores, thé mail order con- cerns and the tobacco dealers, is ex- cellent, and this has been duly' appre- clated in the recent operations. ' The arket sesms likely to continus in this discriminating way until cach ine dividual trade situation "has bsen erly measured. There is no dis- tion yet to discount the out- ook for 1984, The preliminary impression with credit abun and no aecumulation qf goods on_ha e fundamentals are sound. But a rep- Mon of last spring'a short:lived trade boom I8 not looked for. Where operating char, been eating into profits to a dlno raging extent, are likely to\xu Dt wage But this is a crisis which will not have to be faced in° many in- Qustries. Easy to Overrate French Acveptance, Renewal of the American offer to participate in a reparations confer- ence and the acceptance of this offer by France are st in the direction o solving Europe’s economic trou- bles. But their importance for the more immediate outlook may. easily be overrated. The unanimous judgment of the world, apart from France and Bel- glum, is that Germany cannot pay as thin| re now and that it will only be after a long and tedious recupera- tion that collectlons on indemnity tima the French extraordinary budget charged up as “recoverable from Ger- many” seventeen blillion - fran Ponded on th ear, It ar charge this, year. These huge ums are being taken up by French Investors in the fornf of short-term Inurnll loans. Bo far the flotation se loans has not been diffioult. ’A‘h se bond issues were successful, however, because of the suprems con- fidence of the French people in the policy of securing. reparations pay- ments by force. What will be the at- titude If it appears, after an impar- tial Investigation, that Germany must be granted a long moratorium, and that In the end the original war bills mun M lusled dawn enormousiy? In { 1 the French oapl- nlnl oW thu same willingnesa.t! they haye hitherto to add to_their niready great load of government ob- Tigations? 3 pyright, 1828,) Yield; ‘u'owever,' Is " still Above Average of Recent Years—V. S. Exnorts.; Special Dispateh to THe Star; NEW YORK, ‘October 27..~With the 1923 potato ¢rop of the United States reported 10 per-cenf below that of {1ast year and the European .orop of the current.year 20 per cent below naturally turning toward the. potato bin. But the potato situation, says thi W | Trade Record of’ the National’ City Bank of New York, is not sfter all 80 serlous, because it happens. that the 1922 crop, with which ‘we are comparing the prospective outturn of 1923, was abnormally Jaxge:and Phis Shortage of 1 or 20 per tont.dn{ Thomas J. Fisher & ¢ mly. Inc.| the outturn of America and Europe still leaves 'the 1923 .crop quite’ up to_the average of recent vears. In the case of the United States the average crop in the decade ending with 1922 was 378,000,000 - hushels; while the estimate of the Department Agriculture is for 390,000,000 .in o ETerdar Soat 1073, 1922, 450,000,000 bushels, “biggest ever.” ,In Europe, exclu *of Russia, for which no figures are yet available. the crop of 1923, .ace rding to flgures of the Rome In= ternational’ Institute of Agriculturs, was 4,652,000,000 bushels, against a little less than 1000000000 in 1921, and while the. partial reports from .the principal European countries. fn show a slight reductlon it 18 apparent that the European to 1923 will be materially grei that of 1921, even though fall 20 per ‘cent below the maliy-high year, 1922. normally high year” applies only to that section of Burope for which ofll- cial figures .are available, for world is still ln._pkuu lnrormnlon about the ¢rop of Russis, which was Drior o the War & vers 1arge pro- ducer of potatoes. Curiously, adds the Trade Recor8; the birthplace of the potato, Bouth America, 1s now one of the world's smallest producers of that .impor- tant factor in world food supply. Our own production of potatoss ln almost exclusively for home consum tion. We export a few million bush- el but only a small percentage of the entire crop, and our imports are also comparatively small. ————a Pay-' StacK'ot uble. reford. Com) % Nov. %0 pany. Hount continues to hang around its mlx-! Le Bosbrry Ca r. Sanitary Mfg. St Banit'y Mfg pfd. Tampa - Kl ——eee BAR SILVER RATES. LONDON, October I'L—BAr lllv!r. 31 15-16d per- ounce. Money, I?' cent. _Discount rates: ehnn bllls, z 15-16a3 per cent; three-month ' bills, a3 3-16 per, cent. whe would like to_incrense their earnings without lity sacrificing n will do us. wel Secured by firet d -d‘lnfl!::rfllon Inst Year, the eyes of thg world ar 'J 8% FIRST MORTGAGES w- 45° SMecinx the abote in Ahouats from™ .?'lldl An d of ul M’u‘. tive Bu.lldmg | 4 K . ‘3 for collectin) iation HAVE ON HAND IN DENOMINATIONS OF $100 Up to $5,000 A Limited Amount of Very Cholce 7% First Mortgage Notes An Opportunity to Get the Only Abmolutely Safe Form of Investment Yielding the Maximum Rate of Interest fars, apply Mr. O'Donnen EQUITABLE BUILDING 915 FSL NW. X JOY EDSON. President Do .CHAS. D. SAGER Lowest Rates of lntersst ad Commlssien: 824 14th St. N.W. 88 10th Street When Opportunity Knocks at Your Door SUPPOS'E the big opportunity should come to you one day when a certain sum of money can purchase the one thing that will achieve your success! Have you saved enough money to do it? Or will you see the opportu- nity drift by, because you didn’t start to save soon enough? This chance may come ta you tomoryow, next week, next year. But if you don't start saving now, you will never be ready. That’s why you should inquire about our First Mortgage Notes, because others have grasped their golden opportunity by having their money safely invested with us ever since they had started. Call or Write for Detailed : Information Swartzell, Rheem & Hénsey Co. 727 15th Street N. W. 54 Years Without Loss to an Investor MONEY TO LOAN ON FIRST Monmcm Joseph . Weller e Al FIRST MORTGAGE LOANS tions and 7% All loans secured on modern homes and busi- ness property in best northwest sections' of the city. Ask for Information DRRIS CAFRITZ CO Departuient mmnsa.uw Main 617 WHY SACRIFICE SAFETY _FOR HIGHER YIELD?. - Rather than suffer possible . loss of principal in the desire for an-in- creased interest retiirn, eipenenced nvesmn prefer our FIRST MORTGAGES : . —secured om imptoved Washington Teal estate. Their return is liberal. Their safety is unquestioned. - They form' an “large or - . 6% ideal investment for funds, small. e A.moum: $250, ssoo $l,ln) yield Payable in‘monthly. install- ments. if desired. “Write, phone. or ca,ll for full information, 5 B. F.ns;ixm:' 3 S 1412 Eye St NW. l In Convenient Denominations For Investors Interest 64%% 912&;@&!»&.% 9nam6888 HEART-TO-HEART TALK with - INVESTORS "What are you doing with your money? Buymg doubtful securities? culating in stocks? leldmg to the “promoter’s siren voice”? Or just feeling satisfied with a small rate of interest from your savings account? lf You Are— ' consider_and follow the sanest, safest and most .merafly satisfactor; mcthod of all s nm:,and invest your funds in first mort- s of proven value. NOTHING CAN B AR " NO DEPRECIATION— ABSOLUTE SECURITY__ mm PA I:ENT Or lmm AN'D PRINCIPAL— LET OUR ; ‘MORTGAGE DEPARTMENT EXPLAIN THIS FURTHER HANNON - & LUCH REALTORS 713 14th Street N.W. Main 2345 A good maw's recommendation of @ good thing has just about 1009 of influence.”