Evening Star Newspaper, December 15, 1923, Page 21

FINANCIAL, RUSH BEET SUBAR TODEALERSINEAST Western Producers Will Pre- vent Shortage Before Cuban Shipments Arrive. BY J. C. ROYLE. Special Dispateh to The Star. XI:W YORK, December 15.—The Cuban sugar mills, or centrals us they are called, have begun grinding the 1923 cane.crop of the island. Nearly fifteen mills now are in operation, but it will be almost a month before the sugar so produced can be de- livered in this market. The supply of beet sugar produced in this coun- try is counted on by dealers to pre- vent any and consequent extreme advance in prices of refined sugar until the Cuban shipments be- gome available. day the western beet sugar are wedging their products markets around New unswick and Elizabeth, within the metropolitan e latest centers to be in- shortage Big Season In Michigan. Beet sugar: factories in Michigan have practicglly completed slicing r the season, as exceptionally open weather and pro ight_car sup- ply landed the beet crop at the Mich- igan f rles almost thirty days head of the usual time. The year or Michigan growers and manufac- turers was one of the best in the history of the industry. Production of tha six leading companies will aggregats 231.000.000 pounds, com- vared with 1 0,000 pounds last Year The profit to growers and manufac- turers was augmented by the befter- ment in the sugar content of the beet crop, which increased from 13 to 15 per cent. This increuse meant forty pounds more sugar per ton o sliced than was obtained last ve an addition of about $3.20 a ton to be divided by producer and manufac- turer. Colorado Crop Plans. The Colorado production this year will approximate 500,000,000 pounds of sugar and it is estimated as the sea son’ draws to a close that farmer will be paid $19,000,000 in round Hg- ures for their 19 . Prospe for record-breaking crop in 1 brightened by the outlook for a large supply of water for irrigation. Reservoirs started the winter will filled and mountain watersheds are covered with snow to a great depth already. In addition, farm soils are In good condition be of the un- usual rainfall during the fall. Two thousand acres of Drospective new sugar beet land will be opened by the proposed branch of the Union Pacific rallroad running north from Fort Col- lins Mawaiiian Sugar first consignment Hawailan sugar ar this week Arrives. of this sea- ived in onsisting o 30,198 bags of raw sugar, The latest estin of Hawaiian crop 1,208.000,000 1o ahout 000 pounds more t The Francisco rates t i nds han las IMPORTS OF BUTTER HEAVY DURING WEEK Gradual Price Declines Noted in New York and Phil- adelphia. By the Associnted Press CHICAGO. December demand increas were responsible for and easy condition of th ket during the scores at Boston unchanged York and 15.—A light production unsettled and g the butter mar- Prices of top Chica the Philadelphiz declines were mained in New gradual The increase in ported to be sr four principal 1 althtough some have been storage butter may responsible for the latter cks during the week were larger than the previous period. Dealers were unwilling to carry over surplus supplies in spite of improve- ment in_the demand due to the holi- days. Foreign butter was partly re- sponsible for the large stocks of me- dium grades. Arrivals at New clu asks Danish, boxes Argen )0 boxes Irish and 115,140 pounds Canadian. Chicago ed nadian arrivals. Range and closing wholesale prices butter at_the four principal follow: Chicago. unchanged New Yor! 54: Boston, iged at & 1 less e, . Philadelphis DIVIDENDS. Pax Pr. Rate. able. L Q1 i Q 131 . Q st Q 117 Q 1%7 Ex % & Company. Am. Pr. & Lt. pl Austin Nichols pf... Am. Ry. Exp Am’ Window ¢ Am. Wind. Glass pf. Am. Wind, Glass. Ragk of Purope.. Bank wf Eyrope record Dec. 18 15 Gossand Gossurl € Gt. North... Tnfer. Cou, Mass, ; K Marquette Pk. Bk 155 Marquette Pk, Bk.. Ex 107, .. 6% bt Q 134% o bt Q 1%% 4. Nat. Corp. pf. Saf. Car H. & 1. Wi Eagle 0. & . EX-DIVIDEND TABLE. Decémber 18— Bush Terminal Bldgs. pf.. a.. Certain-teed Pr. 1st and 2d p Hart Schaffner & Marx pf.. q. Toose Wiles 15t pf.. q. Manat! Sugar pt.. g Tnited Shoe Mach., 4. Tnited Shos Decen Fimance Co. of Benn. 1at p isher Body of Oho pf., q. Decomber 20— 5 a Pow cocecoee; Connor, John Continental ( Tetroit Gen. Am. @en. Tank C: Gulf 01l Corp., Goodyear T. &'S Hood Rubber. q.. Homestake Mining Hupp Matar Car ot Tl Traction 69 eum. Inspiration Copper. Indlen Motor Cyele pf., ¢ Joliet & Chicugo R. R. Kelly-Sprivgtield T. 8% Kress, §. 1., & Co. pf., Mack Truck! q....... Mack Truck 1e( and Zd pr.. q. Mallioson, H. R., & Cr pf. Manhattan Elec. ' Supp Math. Alkall Works o Math. Alkali Works pr. , X, Transit, o jor®a Ani. T.. tvanln System. Ine., . 89 Motors. q.. arenn P& AL pfL A, Xellow Cab Co, mx 00 B 100 %% 1% E i Stock of | e, | NEW YORK CURB MARKET Recelved by Private Wire BY WILLIAM F, HEFFERNAN, NEW YORK, December 15.—Aside from some further advance in oil stocks, little happened In today's two- hour session on the curb exchange. Sentiment remained the same as it has been all during the past week, and while no attempt was made at higher prices in other directions, the disposition was to carry commitments over the week end rather than to take profits. % The result was a falling off in the volume of business, and only slight changes in miscellaneous and indus- trial shares. Oils started in some- what lower under an accumulation of NEW YORK, December 15.—Follo ing is an offictal list of bonds and stocks traded in on the New York Curb Mar- ket today : Sales in thousands. s 3 BONDS. High. Allied Packers &.. 774 & Elec 6x.. 9515 4. 100 1015 Low. b K‘!i% Toi 01 waiy ik # s Wik 10 it T 10513 108 oon 'n 0, 9l U2t 100 07! 104 Tooas o t 14 e o DY 101 Ausconda 6 = Belgo Can Pap .. Beth Steel 7s '35. . coul Co Am & & N W Os .. Cuban Tel 75 Deere & Co Detrolt” City Dun Tire & X Fisher Body ¢ Fisher Body 6s Grand Trunk 8% Hood Rubber 7a ... Tuter Muteh 6ias wi Libby McN & L 7s Ilg W Lig 't e Munitobs ~ Power Mot Prod Co 6. .. Nor St Pow 63 Ohio Power & B. Park & Tilford 6; Phila Elec s * 10013 971 10415 100% o 08! 133* 951 8 887 8oy birti 10115 0615 K5 104 1043 1 1081, 1085 011y 1003 1081y 100 FOREIGN BONDS. Gov of Arg 65 w 1. 99% Ttuss o 943 Russ G 81y 1081 1064 011y 100 1084 100 9% oy Rie 5U S of Mex cfs dep Sales in_units. 20 I P L 13 ap OIl of 107 8 16% 1 e o4 13 D0k M 16% 10 Mugnolia 100 Nat_ Transit Transit 400 Obia 01l new 108 00 L 110 8 W Penn P L 1300 Vacuum Ol new. . Sales INDEPEND 1 hundreds. 3 Boston Wxo O arib Syod Service pid v pra B v'B cfs v werip . Synd L. )& R P Wi s Pet oil Gulf Ol of Gulf Kt 0 & K Keystope Iunger. . Latin Amer Oil .. Yivingston 0fl Corp - Livingston Pet Mariapd . Mex Panico Mount Prod Mount_ Gulf i Mutual il vot efs 11 New Brad Oil wi.. O New Nobl Narthwest NY ol Peer 011 Corp Pennock 01 Rtoy Can an Con Salt Ck Conw it Ck Prod . board Oil 111l States 0il SALE: Washington Gas 55—$1,000 at 94 Ortsipeake and Potomac Tel. 55—§1.000 at Washington Rwy. & Elee. pfd.—S at 1%, AFTER CALL. Washington_Gas 64 '33—$2,000 at 100%, S0 ar 10, SI008ER00 T o eibopalitan 1. R, ( . St T o0 ut 948 % Wirdman Park Hotel 6s—$2 BONDS. Bid and Asked P PUBLIC UTILITY. 9815, es. Bid, 021 104 a1, Asked. Tel, & Telga. 4s. vty Tel, & Telgn. 4% ctl. tr. cony, @ iin & Potomu & P, Telep Capital Traction R & Suburban Bs, Georgetown Gas st Metropoll & & M lex. b & Anuap. O ! Bait. Rwy. & El MISCELLANEOUS. ), C. Paper MIg. 0s... Riggs Healty os (long) Riggs Realty 55 (shor0)... Wesh. Market Cold Stora Wardman Park Hotel 6s. STOCKS. PUBLIC UTILITY. American Tel. & Telga. pital Traction.. Wash. Rwy. & Ele Wash. Capital Columbia, Liberty Fincotn Vatiount Riser - Nitioual Bank o TRUST COMPANY. fean Security & Trust, American Security ngLob. . .. b I‘x Cow. Bauok... fed States. Washington Mec! American Corcorun_ Firemen's . Nutioual Usion. | TITLE INSURANCE, { Colmbin Title. > enl Estate Title. MISCELLANEOUS. Paper Dl e cesiennns Merchunts' Transfer & Storage. Mergeuthalee Linots 1 0ld Dutelr Market “cow O1d Dutch Market ptd. ! Lanston Mo e | Security Washifigtou Yellow Cib...... *Ex-dividend, fExtra 158 4 5 K 7 8% dividend of 2 per cent. Direct to The Star Office overnight selling orders. But these were easily absorbed before the end of the first hour and the advance was resumed. Standard of Indiana crossed Fri- day’s high to 61%, a new top for the present move, and the Kentucky shares were at their best around 108, up over 6 points on the week. Salt Creek Producers, Southern States and Cities Service were leaders of the in- dependents, all at their tops for the week. Cuba Company lost part of the im- provement made early In the week. The rise in Mesabl Iron kept on mod- erately, the stock reaching a new high on the move at 7%. Mining shares closed the week quiet. The only Incident of note was a new high record in St. Croix above the dollar mark. ates Ol Ol & Gas. INDUSTRIALS. 1 Am Cot Fab pfd.. 67 Am Hawailan 8 § 12 Am Multigraph~ Co Arch Dan Midiand 22% Armour & Co pfd.. 19 Atlantic Fruit wi 14 Hridgeport Mch wi 109 5 Cand Prod Corp wi 1 Cellulold Co ...... 80 Centrif Iron Pipe.. 811 Checker Cab Mfd ‘A 40 Chi Nip new w 1. Ch Np B Tr new wi Childs new w i.... Cleveland Auto pd. Cuba Co ..... Dubilier ¢ & Radio . Durant Mot .... Glliecte S Gleasonite Prod Dust_Corp w Goodyear Tire . Heyden Chem . Hudson Co pfd Inter Contl Rubber Intl Con Ind Cor Kresge Dept Store Kreags Dp Strs pl Lehigh Val Con Lig Mar Coal Co Mesabl Tron . Murcurban ¥at Dai NY Tel Co pfd. Nor St Pow pd. ] Palge Motor Park & Tilford Radio Corp . Radlo Corp ptd Read Co Reading Repettt Candy 80 C & 1 new Swift & C 0 West St 80 Wilcox L. 10k 1 Tni Retail U8 Lt & Hew X ‘niv Pipe pfd w i Wayne Coal .. illys Corp 1st pf W Corp 1 pf ef dep MININ Ariz_Globe Cop. Black Onk Gold. . Boston Mout Corp. Rutte & Western. . lument & Jerome nario Copper. ... Candelaria Min ... Cen Amer Mines. Con Cop Mines new a1 03 ores Esper Dismondfi Bl Bu Hawthorne Hill Top Nevada Home: Conx Mines Frieta Valley \ean Cop utionsl Tin New Dominion (o N'Y Porcupine Nipissing Ohio Copper Plymouth Lead Ray Herculvs Red Hill Flor, Rex Lor Loma Mason M. rdale . Iver Horu Min Iver King Spearhead Gold ck_Haghes Tonopuh Extens Tono N Wenden C West Yukon Gold SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ~——Close. — Bid. Offer Aluminum Co. of Amer. Ts 10: Aluminum Co of An can Cotton Ol ¢ American Tel. & Tel. American Tel. & 1 Anwconda Copper 6s 1 Anglo-American 011 7izs i ltimoce & Ohlo Os 124 Canadian Northern 5igs 1923 Central Argenti Central Leather Chi., R. 1. & Pac Du ‘Pout T 102..ooooo M58 1926, r Body Corp. 6s 19: odyear T. & R. 8s 1631 Great Northern Ts 1086, Hocking Valley s 1024 Humble Ol 5igs 1982 Kennecott Copper 7s 103 ell & Libby 7a State Tel. s P, & 8. 8. M. is & Co. Tles 1630, Penun. 1. K. 7s 1 8t. Paul Unio S[wift & Co Tidewater Ol 6 1531, Union Tank Car is 16 Bate—Mat 41y March 1 4154 Mareh 13, 5%s June 15, 19: 5igs September 1 458 Mareh 15 4343 June 1 s December 15, Maren 15, L 100132 A EET D10 D100716 D100 118 99 24 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY SPOKANE, December 15.— Apple growers are just beginning to ship wine- saps to market and several hundred carloads of this variety have gone to castern points from the Wenatcher, Okarogan und Yakima districts, Al have been consigned to eastern cold storage -warehouses to await better prices. The total -crop of this state is estimated at 40,000 carloads, JOHNSTOWN. Pa. December 15— The steel business outiook is improving, according to President £. C. Grace of the Bethlehem Steel Corporation. The | corporation has authorized the expend ture of approximately 1,000,000 for ad- ditions to the Cambria plant here, PHILADELPHIA, December 1 The Philippine government has placed an order with the Johft B. Stetsor Com- pany for 5,000 campaign hats for the Philippine constabulary. ibe of regular American Army jand of a pinkish brown shade. ST. LOUIS, December 15.—In the last ten months 472,209 privately owned automobfles and motor trucks have been registered in “this city. AKRON, Ohio, December 15.—The Akron tire companies are planning to turn out 45,000,000 casings next vear and, as a resuit of this program, some of the smaller producers are planning plant enlargements. The Marathon and the American, Tire and Rubber com- panies have announced plans for financ- ing to increase plant capacity. i SAN FRANCISCO, December 15— With Christmas still ten days off 30 cents a pound is being paid for turkeys and growers are reported to be prepar- ing to rush huge shipments in to this market before December 25. The hats will | shape | 1 ndn;cate Good Lag—Foreign T BY JART P. WEST. Special Dispateh to The Star. NEW YORK, December 15.—The ng market in the industrial shares during the past week is open to but one interpretation. It has umounted to an expression of confidence in business conditions as they are and a declaration of bellef that these con- ditions are going to continue well into the new year. Railway shares have not particl- pated In the advance, because of the uncertainty of the legislative outlook at Washington. Wall street feels quite sure that if the radical and op- position elements, acting in concert, were to get 4 bill unfavorable to the raflroads through Congress it would be vetoed by the President. Other- w the reasoning is, he would be acting inconsistently with the stand taken agalrst confiscatory measures in the annual message. Therefore no serious uneasiness is felt over the anti-railroad agitation accomplishing anything at the pres- eut session. But the investment com- munity and the speculative body as well are of the opinion that the po- litical situation must clear before it would be wise to go more into se- curities subject so lurgely to public control. Business Developments Favorable. Practically everything developing in business conditions themselves has favorable. For the first time | bruary erude oll quota- tions begun to move upward. | The advance has fitted in with the latest statistics, indicating that pro- duction and consumption have come much nearer together than would have been thought possible two months ago ficial estima on cotton consumption have borne wit- ness in remarkahle hion to the fact that the great rise In the staple vet discouraged buving for cotton goods trade. They have < it more certain that speculating has been a minor factor in the ad var but that this has accurately reflecied the relations between mand and supply. Sugar Outlook Good. The outlook for profitable prices in the sugar trade next yvear has been improved by the downward revision of est the world crop. Nove ts of copper metal sur; steel rve- views reported that purchasing had already begun for the first quarter, and the feeling became stronger that With the passing of the inventory riod over the vear end this forward buying will pick up considerably. As a movement measuring these reassur- ing data the rise the stock ex- change does not ppear to have been excessive, even although it has done some pretty generous discount- ing been since last have nates on r shipm ed all records, Th oreign Trade Encournging. The November figures on the for- elgn trade were another interesting ntribution of the w No doubt | CORN PULLS DOV PICES OF GRAN Larger Supplies Expected in Market—Export Gossip Helps Wheat Trade. By the Associated Press CHICAGO, Dece: g weather for conditioning the corn crop has done much thiz week to pull down the price of all grain and of provisions as well. Compared | with a week ago, corn this morning was 1% to 3% lower, wheat at 13 and 34 to 1% off, cats at % and % to 1% {down and provisions showing 2 to 22 decline. ~ Ideal new Corn Prices Tumble. Predictions that receipts of soon would be much enlarged were current, and were accompanied by persistent selling that became notably aggressive as the week drew to an end. Opini however, that the movement of the new Corn crop was likely to be augmented to anv re- imarkable extent was by no means unanimous, and receivers were quoted as leaning to the view that arrivals of corn here the remaindor of Decem- ber would be comparatively light. Tt | Fwas 120 asserted that only hout ten more weeks this season are left in which an ceumulation of stocks of corn may be looked for and that an unprecedented amount of new corn | has been fed to live stock owing to abuormal 1 of supplies of old corn. Whea han Corn. Relative firm of wheat as con pered with c was due largely mption on the part of ma ¢ that plans would be evolved exports of foodstuffs to In this connection, the that_the United unofficially in a parl rman reparatio ctive. Meanwhile, t here on December con cts were much smaller than had generally been expected. the other hand, bears made of Teports pointing to ste: of Canadian wheat by rail the United States, duty paid. yme falling off in shipping demand provis noted, but receipts of hogs were lessened toward the end of the week | _—— | TRADE HELD BACK. Inufi'c Review Finds Warm Weath- | | . er Retarding Factor. 15.—Dun's | corn would share ettlement of specially ¢ deliver Wl capital inflow into YORK, December y says: senson now NEW Review todiy | 751t is not” the creased operations in other th tail channels, nor fo; definite tions of the probable future trend business generally. Activities hay fed on mecting holiday demands et the large public buying nd some calls for quick - ¢ Christmas goods have come Yet distribu- for n in- re- { powi ments {{o wholesale markets. | tion of heavy-weight apy rel has heen checkéd in many places by ab- ! semce of low temperaiure, with lack of normal snowfall, and more is he a of accumulations of such merchan- dise. ; “The moderate weather, however, has made possible a l'ul\ll“\!fllhm of outdoor work for a longer time than usual, giving employment to lab Which might otherwise be idie, and the November building stal ics show that much additional construction has been planned. This Is one of the rong points of the general situation, it Er where In the industrial field & slowing-down process is visible.” ——e Ask Your Banker How much real value stands back of the stock you are asked to buy? Are you sure that the nice, honest king stranger is telling you th gruth? Ask your bankes to look inty what he claims. Congress Causes Railroad Shares to Gold Situation Puzzling. THE EVENING STAR, WASHINGTON, D. O, SATURDAY, DECEMBER 15 1923. Advances in Stock Market 5 MORTGAGE NOTES Consult us 1f you have avallable funds for investment. THOS. E. JARRELL Member Washington Real Estate Board Woodward Bldg. Main 766 Money to Loan Secured by first deed of trust on real estats. | | Prevailing interest and commission. 420 Wash. I, & Trust Bidg., 0th & ¥ N.W. FIRST Trade in 1924 rade Improves. Joseph I. Weller EQUITABLE Co-Operative Building Association the high cotton prices were mainly responsibie for swelling the export total. But the significant fact re-! mains that exports last month were the largest since February, 1921, when American industry, both at home and abroad, was in the midst of its post- | war deflation. A new high point I therefore, been made in the recovery | In our foreign commerce, which set in two years ago. The fetich about the “breakdown of Europe's huying pow- | er” and how it was going to react upon our outward trade has Dbeen! pretty completely discredited. Balance Favors U. S. The balance in favor of the United States for thLe eleven months ending November 30 was $241.000,000. The Department of Commerce heads have | been quoted us saying that this would have been wiped out, and much more, too, by the “invisible” debite, had it not been for very heavy buying of American securities for forelgn ac- count. No figures, however, have been given to support this statement. Tak- ing in the annual payments on the British war debt, it is a question whether what we have to pay in in terest and dividends broad is not| more than offset by what foreign na- tions have to pay us. On the other hand, it is a fact that | both American tourists' expenditures and remittances to the other side by the foreign born and foreign reluted population here make up an sunnual debit igem immensely larger than b fore the war. It is this, plus what Is owed to'the forcign-carrying trade, upon which th department relies to support its contention Gold Export Prophets Confounded. Predictions of & vear ago that we would soon he large expecters of gold have aot come true. On the contrary, In the eleven months ended ||| November 263,000,000 net gold was sent into this country. The reason for this upset, so it i med, s to be found in the desire of European | cupital to transfer on a large scale into dollar securities Nevertheless, the “gold. port” prophets of last winter and spring were carried away | by the notion that having no more gold to send, Furope would pay i debts to us in goods. They this s the explanation for th rechandi: exports which bruary through May, wh of fact it was wholly due abnormally large purchases lgn raw materials incident to rt-lived trade boom. b Copyright. 1923.) Orgnnized 1879 434 YEAR COMPLETED Asnsets . Surplus ..... Systematic Saving Tt fs the most effective wuy to get shead financially. This has been demonstrated tirough years of ex- perience. Subscription for the 85th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Seey. First Mortgages $250 and Up Write or Call for “Booklet.” Willia}m S. Phillipsl First Mortgagé Loans Lowest Rates of Interest and Commisslon. Prompt Action Thomas J. Fisher & Company, Inc. 8% 15th Rrreet FIRST MORTGAGE INVESTMENTS 672% Denominations, $1,000 und upward. Secured on Improved Properties Only JAMES F. SHEA 643 Louisiana Ave. N.W. Safe Investment ‘ $250, $300 and $1,000, secured on improved interest 6% per cent, payable ! $300, $750, seml-annually. TERRELL .‘.‘. LITTLE, Inc. | Itors | 1206 1sth 8t N.W. i FOR INVESTMENT FIRST Southeastern Express Company Atlanta, Ga. December 12th, 1923. A semi-annual dividend of 3.50% on the outstanding capi tal stock of Southeastern Ex- press Company has today been declared by the Board of Di- rectors out of net income for the months' perfod from July to December 31st, payable and ay, Janua to stockholders of record on the books of the Company at the close of busines Tuesduy, December 15th, 1 Checks 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 Intormation RRIS CAFRITZ ortgage Department 913 15th St. N.W. Main 617 will be mailed. F.W. WOODs, Secretary-Treasurer. FINANCIAL, Now Serving 42,000 Depositors In Justice to Yourself —do not lay out all your salary in holiday gifts. Your bank ac- count should receive its fixed increase, as usual, THIS PAY- DAY. Generosity to others before you are just to yourself is out of place at holiday time as well as at all other seasons. This convenient old bank will remain Open Until 5:30 P.M. Monday, Dec. 17th —80 you can do your banking with- out loss of time from the office R FOREIGN DRAFTS for send- ing Xmas cash to old world kin or friends. DIRECTORS: -Prestdent | Woodbury Blai Wiiltam D. Hoover st V. Pres. | James A. Buchanan Regin 24 V. Pres. | Willlam A H. Church Victo Walter C. Clephane H. Rozler pulany. Jr. Win. E. Edmonston nk Stetaon Fraok'in H. Ellis_ Frank W, Stone Frederick A. Feoning Wiillam 0. Woiker H. Prescott Gatley — Heury K. Willurd nal Savings & Trust Co. Oldest Savings Depository in Washington Cor. 15th and New York Ave. Safe Deposit Boxes at Very Moderate Rentals Capital and Surplus $2,000,000.00 Same Rate of Interest Paid on Large and Small Accounts OFFICERS. WILLIAM D. HOOVER WOODBURY BLATR. FRANK W. STONE FRANK STETRON CHAS. € L S. Haldekoper Kauftmann - Asst. Trust Officer .- Asst. Trust Officer MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randalt T Hogner & C 1207 Cnneclicut (Brence 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 Its 7% First-Mortgage Notes, SECURED by Improved District of Columbia Real Estate, Are a° GOOD INVESTMENT. Offered in denominations from $250.00 UP. Are You Satisfied —with returns of 414 to 514 (not to sayv 3149 on some investments) when here vour money. will earn 6% %, without endangering one iota of the safety of your funds or the full amount of the original purchase price? THE FIRST MORTGAGE NOTES we are offering the public today are not only un- questionably secure, but relieve our ¢lients of all details of collection, etc. NOTHING CAN BE BETTER. Just pay for such notes as vou want and leave the rest to us. Partial payments may be arranged. SEE OUR MORTGAGE DEPARTMENT SHANNON - & LUCHS 713 14¢h St. N.W. Main 2345 STOP AND THINK \ man may earn a good salary or make a good profit from his pro- fession or business, but if he spends I, what is tlere for him tg fall ack on? Qwer a s You can purchase our 6 Quarter of a FIRST MORTGAGES Century Without —on the Partial Payment Plan and have an income working for you. a Loss B Main 2100 F. SAUL CO. 1412 Eye St. N. W. 1290 Established In Convenient Denominations For Investors Interest 612% L9125fiflw¢fi Strect Main 6388 Your Maturing Invesments IF you have an investment—bonds or other securi- ties—about to be paid off, you will want to get the highest return by keeping your principal con- stantly at work. Our organization is so planned that we can keep your money invested and reinvested in First Mort- gage Notes on improved Washington real estate, so that your principal is earning for you without inter- mission. These Notes are obtainable in denominations of $100 and upwards. Call today and arrange to reinvest promptly the funds made available by maturing in- vestments or from January dividends. Swartzell, Rheem & riensey «.0. 727 15th Street N.W. 84 Years Without Loss to An Investor