Evening Star Newspaper, November 23, 1923, Page 29

» FINANCIAL, INSURING BRAINS ~ GROWS IN FAVOR Business Firms Paying Huge Sums in Premiums on Lives of Executives. BY J. C. ROYI Epecial Dispateh to The Star. NEW YORK, Noveniber tive abillty commands a gre mium in the business of the United States than ever before, according to Insurance men and government officlals. In proof of this they point out that the business concerns in all sections of the country are paying tremendous pre- miums to insure themselves against loss from the death of their executives. Sta- tistics show that the practice of insur- Ing executives in favor of the corpora- tions which they administer has grown tremendously in the last 120 Insured for $1.000,000. ‘There are now 120 people in the United States insured for $1,000.000 or more. The great mafority of these poli- cies have been taken out in favor of business or industrial concerns Deputy Commission Maddox of the internal revenus bureau attributes this to the desire of corporations to partially reimbursed for the loss of the executive ability of the men who steer their af- fairs A number of the stars of the mo- tion picture, musical, theatrical and artistic worlds a heavily insured in favor of the concerns holding them under contract. and while this is not & protection against the loss of exec- utive ability, it is measure culated ta reimburse the loss talent and artistic ahility Movie Stars Protected. Douglas Fairbanks, Mary Pickford and Charlie Chaplin are insared for $1,000,000 each, and policies for muns hundred thousand dollars are con- stantly being taken out on the lives of other motion picture stars for periods lo ver the time thoy ace < particular picture. Du filming of “Way Down East” the of David W, Griffith, Richard rthelmess and Doroth¥ Gish were heavily insured in favor of those financing the pro- duction Williu Fox and Adolph Zukor., motion picture producers, carry pol 2.640.000 $5,000,000, Samuel Vau win Locomative step further and ater pre- cal- of liy B and ad of the Bald- has_gone a ct. through a em of his own, hus insured him- st interruption of his business il heal Tax Laws in Such Cases. A mistaken many qua of these heavy corporations. M corporations paid tn preference the prev tak fa in = out in or of <umed hat th premiums 1 Paying government ta. on the earnings involved, re- ceiving, in return for these swms, a xecurity which had both a surrender and 4 borrowing value as well as its face vaiue on the death of person insured Internal made it plain due deductione for are not allowed if payable to the and are consid A pa compensation, the premiums ductable, provided the cost of icy is not ont of proport argest Policy sint, insur Jargest group life i surance poliey ever issued, which the Southern Pacific Railroad taken out in belalf of its ninety thousand employes and which becomes effective January 1. This insurance is expe ed to reach a total of more than $100.- 000,000, and. as it is pavable to the estate of the insured, would cor under the head of added pensa- tion Insurance strenuous e led ut x revenue that officlals today fixing the tax these premiums the benefic is 1i. e themselves of their A case in would be th ampanies orts to cut down the waste resulting from “not taken” pol- fcies ‘Thess policies which are tssued fn the regulur way for pros- pects, who, either because they are not convinced by the agent or fail to fail to take thes on the making pay the premium, As they are put records, they must also be when they ‘are returned double cost. This, i is estimated to run as h 000 a year. Costs Exceed 15 Per Cent. Howard P. Durham missioner of Connecticut, declares the ratio of “not taken” policies in liabil- accident and Tife lines cxceeds cent It is probably « to the tru that the cost connected nd_cancellation of * in stock companies is a ble amount.” Mr. Dur- ham added: “In mutual companies is reflected in a decrease in the divi- dends paid to policyholders. In the ultimate analysis, in all the honest insurers bills.” TOURISTS TREMENDOUS ASSISTANCE TO ITALY U. S. Commerce Department Re- ports They Spend Two Billion Lire Per Year. in the w ¥ . h to with the who fo Ttalian trade y toward off- setting the large, unfavorable balance visible trade, according to an Prof. Alfredo Niceforo of University of Nap! h Con- Leon Dominion has forw Department of Commerc invisible items are tourist traflic and nts. Prof. 1922 about Ttaly, of whom 84,000 Invisible balance go items long the The principal from th tunces o <how eigners visited were Americans, $1.000 £0,000 French. It is estimated, on the basis of an average sojourn of twen- ty days and an average daily expen- diture of 1 lire, that the total amount spent by tourists in Italy last year was about 2,000,000.000 lire. Taking the amount of 2,000.000,000 lire for tourist expenditures and 2.- 800,000,000 lire for emigrant remit- tances, the total offset to the unfa- vorable balance of Italian foreign trade is in the nelghborhood of 4,800,000,000 lire. WESTERN MARYLAND’S EARNINGS DECLINE Decrease So Far in November, But Year's Figures Show Sub- stantial Gains. Special Dispateh to The Star. BALTIMORE, November 23 —Esti- mated earnings of the Western Mary- land railway for the week ended November 14 show a decrease of $42.- 563 under the corresponding period 2 year ago, having declined from $456,137 to $407,573. This is the sec- ond week in November that earning: have shown a decline compared with the same period last year. the de- crease for the first two weeks in No- vember amounting to $127,057. Total earnings for the two-week period this month were $785,216, against $912,274 8 year ago. The figures for the current fiscal vear to November 14, however, dis- close a substantial gain over 1922 The total to date was $20,368,365, compared _with $15,827,801, an in- crease of $4,540,563. LIVE POULTRY LOWER. CHICAGO, November 23.-—Poultry, live, lower; fowls, 13al8: springers, %; roosters, 12%; geese, 16; turkeys, 27 remit- iceforo in insurance com- t tak- | ded to! Cevenue] 000 for- | British and | BY WILLIAM F. HEFFERNAN, NEW YORK, November 23.—Stocks reached higher prices on the curb market again today, but the buying was more discriminating th: Thursday The sudden activity at advancing prices in Mexican government bonds was a notable incident. The 4 per cents sold at 35%, two polnts above Thursday’s final, and the 6s of serles A were up more than this amount at 6. Strength in these issues followed reports that the debt agreement likely to be declared operative soon. Ofl shares were prominent on the side of advance, but buying settled down to selected stocks of the type of Southern States, Gulf Oil and Pen- nock. The former Teached a new top for the movement at 20, but offerings checked any further is | ad- . NEW YORK, November 23.—Follo: ing is an official list of bonds and stocks traded in on the New York Curb Mar- ket today : Sales in thousands. 1 Allied Packers s 1Am Lt s w't 6 Am Sumat Toh BAm T & T ¢ T Am Thread Co s Anacondn 6y 3 Anglo Am 01l TALG & W i Heth Steel 7 1 Charcoal 2 Cit Nerv 1 Graph Sx par BONDS, High o7 1001 1015 101 1 Fisher Hody 10 Gatr Rubt 1 Gen Asphalt 1 tGrand Trunk 1 Tioad Rubher 7 1 Int! Match 61gs 6 Morris & 1 Nat 1 13 Phila i 1 23 1 Reading 1 Shaws| 150N Y S 0N Y 0N Y B ® Sun 001 i Swift & Co s Tnit 01 Prod S 4 Unft Ry of Hav 50 Webst Mills flax Gov Argentine e w | f Moxieo’ $u STANDARD OIL T8 tn_units i ) & R new 0 Tlinois P L. 3 Ol of Canadi 1 5 Magnolia i0 Northern P 1, | S0 Ol O new 900 Prafrie 00 & 100 Penn Mex Fuel 15 Pratrie B L . Pet ) S0 Kansas new 100 8 0 Kentucky 105 0 N Y pew ) Vacuam il Snen I NDEPENDENT O1L STOCKS i ors s, yod et L Rock”Oil ? ol of Ta ulf St 0 & R owi SO&RFRw Tindson <erond Kevat Rirhy Towry Lnt Tor i1 Am 0i o | Mex Oil Mount Prod Mutnal 011 Vot efs New Bradf O w 1 o Mex Lund Nuble Ol & Gas XY ol ; Omar 0 & Gas Pennock 01 .. Plite 01 & (Gas Roval Canad O & Ryan Con ....... alt Ck Cons it Ck Trod apnina Refin S 0il Reaboard 0il S s 0l Wilcox 0il & tas INDUSTRIALS. Pack L08 10 Acme Washington Stock Exchange. SALES. Weshington Gax fs "33—-8100 at 1004, $400 at T SLO0O At 701, $1.000 s Light—10 at & onal Bank—1 at 140 AFTER CALL 45—$1.000 at 69, 3 $1.000 at 100, Gas 5x—$500 at B3Ly Washington Gas Light —10 at 48, Washington Gas 6% 33—$1,000 at 100, Money—Call loans 5 and 6 per cent BONDS. Bid and Asked Prices. PUBLIC UTILITY. | Washington 000 at 6 Washington Washington Asked. American Tel 3 American Tel. Am. Tel. & T. Am. Tel. & e o 103 i 90ty 1181, o7 e & ot & P, Te Srrssen ¢ & P Telephone of Va. Capital Traction R R. { City and Subuzban getown G ist ol cons. dx. i “an 100 9% s 1023 flee. Pow. & v Alex. & 3 vash. Alex. & Mt. Ver. Wash., Bal Washingt Washingic Wash. Itwy. Wash. Rwy. Riggs Réalty 5s (long) Riggs Realty Os (short Wash, Mkt, Co'd Storag Wardman Park Hotel Gx. STOCKS. PUBLIC UTILITY. n Tel. & Telga..... Tractlon. =5 Ameri Capital Was w Wash, 3 Terminal Taxi com.. Capital ..... Columbia - Commercial District . rmers & Meci Federal-American Liberty Lincoln & ‘National ‘Meiropolitan. Riges Second ational B ank of Washibgton TRUST COMPAN American Security and Trust. Continental Trust. Merchants' Bank... .l ‘ational Savings and Trus jon Trust..... . Loan and Trusi SAVINGS BANK. merce and Savings. . 180 | Security Bavini Seventh Street. United State Washington TITLE INSURANCE. lumbia_Title.." .. o T gk MISCELLANEOUS. r pfd. Trani £ Linotyl D. C. Pape: 0id Dutch Market pfd. Lanston Muo‘m:)":e ‘Washington Market. Tellow Cab.. large | THE vance. While the rise in Penpock has been comparatively small since the declaration of &n extra dividend, it was evident that the stock was being well taken at and just under 13. Latin American Oil common, of $1 par value, was admitted and sold at 53. Prarie Oll and Gas was dealt In around 200. Standard of Indlana was active and higher, but profit taking | appeared at intervals in others of the Standard group. A decline of 2 points occurred early in the day in Cuba company. but it retraced ‘more than this amount later. The new Wrigley common came down fractionally and opera- tions for the rise in Park & Tilford were suspended. Motors failed to reach higher prices despite the better tone to this group on the stork exchange. A block of 1,000 shares of Stutz was sold frac- tionally under the last previous quo- tation. and Peerless lost a half point. Business in the mining off somewhat | Archer Dan Midland Armour & (o pfa. Borden & Co. Biyn Shoes Ine. .. Hridgept Mach w | Hrit-Am Tob Cou. Rklyn City R R Candy Prod Cor wi Cent Terexa ... Cent Teresa ped. Centrifug Tron P Check Cah Mfd A Chie Nip new w i. Cleveiand Auto pfd Cola Power & Lt Childs Rest Childs Co Conw Gas new Cubn Co wi Du Pont Motors El llond & Sh pfd Knit Mills. GRT D W fexden Chem Hud & Mann R Rt Hudson Co nfd . ContRubin Conerete Tue Motor Mesahi “Tron Midvale ¢ i Miss Pr o new w | Mat Prd new pf w i Nattonal Leather NV T Coprd. ark & Tilford Peerles Mot Ktandard Motor. Mot &0 o Prod Exio 1 Carbide Pre s Retail Candy Lt & Heat Distribut ... Tuiv Pipe ptd % 1 Toiv Pipe pld w | Waring Hat' Mt wi < Corp tat wf MINING Rt t T i i s Canario Copper “andeluria Min Am Mines. Mines new Harmili Div . Hawth Mine Tno Independence Lead Lote Ster Mason Vulley McNamara Nevada Rl Nixon Nevads Nipixeng 21 Ol Coprr ed HII Flo Rescue E Rex Cons. 2 St Croix fiver Horn Min 8ilv King Div Min Simon River.. ... So Am Gold & F Spearhead Gold. tewart Minex Sutherld Dev Min . Tovopah Extens Tonopah Min Talted Fastern 30 TS Contl new 1 Tnity Gold 45 Wenden Copper 20 West Utnh EX-DIVIDEND TABLE. November Dol and Hudson, ... Federal Mining and Sm kenspck W ackensack Wa 18 onio 011, . 8. Steel r T. 8. Steel Corp. November 30 | American Telegraph snd Cable Atian Poveder, e, Toxton and Aibany TR California : | Caadian' ¥ | Diamond Ma stman Kodak. Stman Rodak, sxi stman Kodak pf. Ie ‘and I tabut R Galena Stgnai O11, .. Galena Signal Oil pf.. q Haves Wheel, n Tiiinoln Pipe Line. .. 3., ST P and 8 83 id West Util. pr in q Norfolk nnd Western, o Norfolk und Western. ext San Jouguin and ¥ | 8an Joaquin L und P Soiar Refining Co Southern Pueic. 4. . | 8tandard Gas und FElectric B. Clgur Stores pf., q. uum Ol q. S cuum Ofl, ext. ILLINOIS COAL MINES R ~| RAPIDLY CLOSING DOWN Loss of Business Cited as Cause for Bituminous Depression—25,000 Workers Idle. By the Associated Press. ST. LOUIS, Mo., November 23.— Bituminous coal mines in Illinois and Indiana are closing down rapidly, coal operators here stated today. Approxi- mately one-third of the 300 mines in Iilinofs are idle, and the majority of the remainder are operating at only about one-fifth capacity it was said. This means chat about 25,000 miners are out of work and that the 50,000 other Illinois coal miners are drawing small pay checks, it was explained. Loss of business through alleged un- derselling by non-union mines in Ken- tucky and West Virginia is given as the chief reason for the situation, and other reasons include exchange from coal to ofl as fuel by a number of in- dustries, continued mild weather and the merger of numerous public utili- ties with consolidation of production plants. RATES ON BAR SILVER. November 23.—Bar silver, 33 _pence per ounce. per cent. Discount bills, 3%a37-16 per ; three-month bills, 3% per cent. NEW YORK, November 23—Bar silver, 641;; Mexican dollars, 49. e MARKETS CHIEF TOPIC. PITTSBURGH. Pa., November 23.— Feaeral co-operation In the estab- lishment of co-operative markets was, discussed today at the closing ses- sion of the annual national grange convention here.” C. M. Gardner of Springfleld, Mass. told the delegates that the co-operative marketing lans of the grange would be put nto‘dtha form of legislation to be vrged. i BANKERS SEEKING | NEW LEGISLATION Association Official Sums Up Efforts to Improve Present Rules and Regulation. Special Dispatel to The Star. NEW YORK, November 23—Five hundred bills more or less directly affecting banking were Introduced in the ast session of Congress among the 19,000 measures presented in all, it 1s pointed out by Thomas B. Paton, general counsel of the American Bankers' Assoclation, in his report. In addition, there were in session in 1623 forty-three state leg- islatures, which considered many laws relative to banks. One of the measures particularly vital to banking, he says, waw federal legislation sought by the tax com- missioners of a number of states to amend the United States Revised Statutes so as to permit the states to place banks in a class by them- selves for purposes of taxation. The amendment advocated by the tax commissioners was rejected by Con- gre: In regard to the efforts of the as- sociation to promote uniformity in banking law. the general counsel sa) Uniform Laws Desired. our country, with its forty- eight separate state law-making bodies, there is a great tendency to diversity of rule. judicial and statu- tory, and to counteract this the states have created commissioners on uni- form state laws. The uniform acts on neszotiable instruments, ware- house receipts, bills of lading and stock transfers. which have been recommended and their enactment materially aided by the American Bankers' Association, have been the production of these commissioners. “Uniformity of rule should be re- talned. It Is vegrettable that the negotiable instrument act has been amended by the legislatures of a number of states and is gradually losing its uniform character. The amendments may be beneficial, but thelr application is only local. Tt will probably be a task confronting the law office of the association to draft a supplemental amendatory act bifnging in the good in all existing amendments of the negotiable instru- ment act and containing such new amendments as experience Indicates are needed and urge its universal enactment in all the states. “The law governing banking is not all contained in statutes. Several hundred new questions arise each vear for decision by the courts. Tt ix not infrequent that decisions provide # rule so out of harmony with recog- ed banking custom or oppressive its application to legitimate bank ing dealings that it calls for leglsiu- tive correction. and it has been the practice to frame and recommend the enactment of remedial state statutes in such cases.” ew Legislation Urg: Bills have been recommended by the association on fiduciaries’ checks. <top payments, stale checks, udverse claims to deposits, payment of forged checks, deposits in two names, de- rosits in trust, competency of bank rotaries, non-payment of through error, Saturday afternoon bank transactions. forwarding checks direct to payer, false statements for credit and bank_ slander, all jhaving their basis, Mr. Paton savs, efther in decisions affecting the banking in- terests adversely or in the absence of decision upon a question where a positive rule is essential “In 1 SELLING IS HEAVY IN COTTON MARKET Further Advance Checked by Of- ferings at 35-Cent Level. Trade Buying. BY the Ausoviated Press. NEW YORK. November 23.—There was renewed realizing or scattering liquidation in the cotton market dur- ing today'a early trading. Liverpool made a relatively firm showing. but the opening here was steady at a de- cline of 2 to 8 points. Trade buving was reported around and on a scale down from the 33-cent level for De- cembar, but it was less active than recently, and the price worked off to 34.94 during the early trading, or 19 points net lower. March, meanwhile. s0ld off to 34.62, with the general list showing net losses of about 10 to 18 e sell- points. Private cables said that hed, ing in Liverpool had been absorbed by trade buying. but complained of a poor spot demand. Fall River #ales of print cloths for the week were estimated at €0.000 pleces. Mill pro- duction there is now said to be about 50 per cent of normal. Prices Drop. . November 23 Realizing sales from.the long side were against values in the cotton market today in_the early trading. Prices lost 16 to 22 points in the first half hour, January dropping to 24.21. The tone was steady current of buying, which kers said was coming from some bro- mills that { were fixing prices Cotton Bids at Noon. N YORK, November 23—11:45 am. cotton futures bids steady. De- cember, 34.9: January. 34.41; March, 34.63; May, 3479: July, 3417, NEW "ORLEANS, November 23— Cotton futures noon bids steady. De- cember. 34.40: January, 34.50; March, 34.6%; May. 34.70; July, 24.16 EW 2 THE VALUE OF A FIRST MORTGAGE DOES NOT DEPEND ON THE TICKER TAPE There can be no loss in a well made It is Ower a ations Quarter Collection and remitting of all gja payme! Century est, is Without a Loss B. F. SAUL CO. Main 2100 annual | checks | on an under- | trouble to the investor. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY LYNN, Mass, November 23.—Shoe production here is at the low point of the year. As 75 per cent of Lynn production is in novelty shoes, none of the factories are working on stand- ard spring goods as are plants in other centers. PITTSBURGH, November 23.—Stat- ing_that Pittsburgh's supply of nat- ural gas Is practically limited to West Virginia, B. D. Leland, general manager of the Equitable Gas Com- pany, said today the depletion of that field would probably occur within (if- teen years. DENVER, November 23.—Cattle re- celpts at the Denver stockyvards es- tablished a new high record this weelk when 15,612 head, or 504 carloads, ar- rived in'one day. The previous rec- ord was 14,964 head in October, 1919 DETROIT, tion of Ford November 23.—Produc- ars this week was 10.- 2326, an increase of 1,049 over the previous week, which had shown a decrease of 616, owing to holidays, CLEVELAND, November 23.—The bumper plants of the Eaton Axle and Spring Company here and at Alba are working twenty-four hours a day. The company has sales assured for all bumpers they can turn out in the next seven months Lumber. SEATTLE, November 23.—Lumber production in tern Washington and Oregon last week was 25 per cent above normal with new orders 6 per cent below production and shipments 4 per cent below new bLusiness. JOPLIN, Mo. X Commerce Mining pany of Joplin lished ‘& new record for the district last week when it shipped 4,500 tons of zin ore from its mine. ATLANTA November 23 —Dairy- men here this week advan the wholesale price of milk from 40 to 50 cents a gallon. The retail price went up from 13 to 18 cents a quart FRUIT AND PRODUCE TIED UP IN NEW YORK Truck Owners’ Union Has Now | Stopped Movement of Ninety Carloads of Goods. pvember 23 —The oyalty Com By the Associated Press. NEW YORK, November 23 —While representatives of the Fruit and Prod- uce Traders’ Association were meet- ing today with delegates of the market truck owners in an attempt end the situation which has re- ited in w tie-up of all fruits and produce arriving at pier 17. XN river. twenty additional rloads of apples. onions and carrots were re-| ceived, adding to the congestion which was caused yesterday betw n fifty an seventy remain«d undelivered The truck owners, who are organ- ized, vesterday refused to allow out- de trucks to remove the produce and fruit from the pier and also sus- pended operatlons of their own trucks, pending an agreement OIL PROSPECTING FAILS. Commerce Department Gets Report From Greek Macedonia. Tt is reported that the Angio-Per- sian Ol Company. which obtained the exclusive concession to explore Greek Macedonia for petroleum, has not met with much success. Two gasologists have spent six months exploring this territory and an expert from the Lon Gon office has spent two months to check over results, and it is under- that he has recommended an to I stood The Margin of Security We Demand to Safeguard Clients Investing in Our 7% First Mortgage Notes Insures absolute safety under any and all conditions. Upiolds interest a single penny. pet nd_insurance policies furnisr d with all uotes. Notts of $100, $250, un to $5,000 Now on Hand For full particulars apply 0'Donnell, Loan Department. CHAS. D. SAGER 934 14tk St. N.W. Main 38, to Mr. FIRST MORTGAGES FOR SALE Secured on Improved Real Estate in the District of Columbia Denominations of $250. $300. $750, $1,000 and upward. JAMES F. SHEA 643 Louisiana Ave. N.W. FIRST MORTGAGE not subject to market fluctu- and is always at par. nts, both. principal and inter- made by us without cost or EVENING STAR, WASHINGTON, D. C., FRIDAY,. NOVEMBER 23, 1923. NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office abandonment of the effort. ous small springs have been located, but in no case was there titles commercially interesting, Consul report to the Commerce Department. LPLINANCIAL, P Safe Investment | Money to Loan o i e e | Securca by firat deed of trast on resl estate e 1o nominations of Prevailiog interest and commission. $200, 3500 and $1.000. secured on improved e Wasn. T & Trust Teal” entate: interest 014 per cent, pasanie | JOSeph I Weller V4% & § W semi-annualiy. —_— TERRELL & LITTLE, Inc. = Realt 1208 i8th Bt. N.W. Numer- traces in river beds and indieation of quan- says L. B. Morris, Salonki, in a First Mortgage [ % Mortgage FIRST | Mot | Secured on residences in Loans MORTGAGE the Northwest section of the cty. $1,000 to $10,000 at 6% LOANS ; };\'e have 1l million Bearing 6,9, Never A LOSS dolare fo jloan Secured on HOME PROP- Each loan for less than sums of $1,000 to ERTIES at less th 5 half the market value of $10,000 on hous: Halilof s O I This Is the Saf Vo ey These loans must s Is Fest not exceed 50% of Possible Security Booklet on Request actual value of prop- Guaranteed Title Wi“iam s. Phi“ips ‘ erty and may be re- Investment from $500 upwards | Realtor duced at interest 15th and K Sts. N.W. periods. Teem: Main 4600 Waggaman & Brawner, Inc. s Franklin 7485 Five years or longer. Reasonable broker- age. INVESTMENT DEPT. WA MAN ConstructiSMC€ompany Incorporated H430KSrot N Main 4190 s SERVICE and SAFETY National Mortgage & Investment Corporation 811 Vermont Avenue N.W. Deals in the Best Real Estate Securities First and Second Trust Notes and Ware- house Receipts are purchased at fair rates EQUITABLE | Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Aswets ...............84,750,763 Saving With Best Results Adopt our systematic saving plan and you will accomplish more in sev- ings ‘than e tts 7% First-Mortgage Notes, SECURED by Improved District of Columbia Real Estate, Are a GOOD INVESTMENT. Offered in_denominztions from $250.00 UP. Subscription fov the 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Seey. Poor Jim:- —of his own folly: or, perchance, of taking advice concerning his investments— RESULT! Depreciated values, loss of income and the consequent mental anguish whic nerve racking. is Don’t Follow This Unwise Course —but place your funds. large or small, where the FOR INVESTMENT | *FIRST MORTGAGE LOANS Denominations $100 to $6,250 Interest Rates 615% and 7% All loans secured on modern homes and busi- ness property in best northwest sections of the city. Ask for Information RRIS -CA ortgage Dei th St. N.W SECURITY IS ABSOLUTELY 1007, O DEPRECIATION OF VALUES LIBERAL INCOME RETURNS UTTER ABSENCE OF CARE We furnish you FIRST MORTGAGE NOTES on D. C. property worth double the loan, and attend to all the details for you Call Our ESTME! SHANNON - & LUCH REALTORS T DEPARTMENT i 913 18 1412 Eye St. N.W. Lvery Banking Service Main Office Central Branch 7th & Mass. Az NW. Our Strength Inspires Confidence An institution of service and strength developed through efficient organization and progressive methods with over thirty-four years of bank- ing experience. Southwest Branch 436 7th St. S.W. Northeast Branch 8th & H Sts. N.E. — MERICAN SECURIT: AND TRUST COMPANY o A Northwest Branch 1140 15th St. N.W. 15th and Penna. Ave. Capital and Surplus, $5,400,000.00 Five Convenient Banking Offices