Evening Star Newspaper, May 13, 1924, Page 23

FINANCIAL. . PROVISIONS MARKET SEES LITTLE CHANGE Slight Increases in Prices, With Commission Merchants Report- ing Receipts Light. MEAT PRODUCTS FARE WELL Vegetable Supplies Reported by U. S. Department Bureau. A slight increase in the price of live hens and live calves over last week and light receipts in every product handled by commission merchants dealing in poultry and live stock yere reported on the Washington whole- sale market this morning. Hens were offered at 27 and 28 cents @ pound, and in exceptional cases the 29-cent figure was broached. Calves generally were reported settled at 11 cents, or one-half cent more than Sat- urday's approximate quotation. Spring chickens had a range of from 45 to 53 cents, according to qual- ity and grade, and spring lambs were said to be selling for about 18 cents. Eggs showed a little better today, being at least a half cent higher. than ™ last week, and in some cases a cent in advance, bringing the top price, it as understood, to 23 cents. This figure, however, is subject to change, depending on the class of sale. Meat, products fared well, and job- bers in butter, eggs and cheese Te- ported good business and no fluctua- tions in prices. Review of Vegetable Supply. Vegetables here, as reported by the Department of Agriculture, follow: Apples—supplies moderate; demand slow; market dull. Barrels—Mary- land, Virginia and West Virginia, No. 1, 2% inches up, Winesaps, some scalded, 4.50a5.50; Ben Davis, 2.25a 3.0. Boxe: orthwestern, medium to large size, extra fancy Winesaps, v 250a2 combination extra fancy and fancy Yellow Newtown 00a 2.25. Asparagus—Supplies light; de- mand slow; market dull; Fastern Shore Maryland, 2 - dozen - bunch crates, large size, best, few sales, 6.00a6.50; others, 4.00a5.00; _poor, 2.50a3.00; South Carolina, dozen- bunch crates, very few sales, all sizes, 24.50 per dozen. Cabbage— Supplies liberal; demand moderate; market steady; South Carolina, pointed type, 1%-bushel hampers, mostly around 2.50; barrel crates, Onions—New stock; sup- 4 pound sacks, yellow varieties, United States, No. 'l, some poor candition, sprouted, 1.00a1.50. New Potatocs Demand Strong. Potatoes—Supplies moderate: new stock, demand good; marked strong; Florida, double-head barrels, Spaulding Rose, 1 No. 1, 9.0029.50; old stock, nd light; market steady: Michi- 150-1b. Russet Ruri 2.50 per sack; cks, round whites, U. o 5a3.00 per sack. Straw- berries Supplies light: _demand ood for good stock; North Carolina, Klondikes and Mis . best, 5.00a6.00; few higher; poorer, $4.00; Virginia Norfolk sec- tion, 60-quart crates, Missionarys, 14 per quart. String beans—Sup- light; demand . good; market Flor! %-bushel hampers green, ' 4.00a4 few higher. Peas— Supplies Ibi demand light; mar- ke tsteady; South @arolina, 'bushel hampers, large size around 2.00 small, 1.50a telephones, 1.75a2.5 North Carolina, bushel hampers, tele- phones, around 2.75. Eggplant—Sup- plies very light: demand light; mar- ket steady: Florida, pepper crates. all sizes, 4.0025.50. Tomatocs—Supplies, light of good stock; demand slow for poor stock; market steady; Florida, sixes ripes and turning wrapped, best fancy count, 6.0026.50; few higher; choice, 4.50a5.50; poor, 2.00a4.00. Cars on Track, at 8§ A.M. Today. Apples, 4 broken and 3 unbroken cars on track; asparagus, 164 crates South Carolina express, 4 crates Vir- Einia boat; bananas, 6 freight reship- ped Baltimore, Md., 3 broken and 3 unbroken cars on track; beets, 4 bas- kets South Carolina express, 30 crates Virginia boat; cabbage, 1 South Car- olina freight, 52 crates Virginia boat, -5 broken and 2 unbroken cars on track; carrots, 2 crates South Caro- Jina express; caulifiower, 15 crates Virginia _boat; celery, 1 Florida freight, 1 unbroken car on track cucumbers, 236 crates Florida ex press; eggplant, 122 crates Florida cxpress; grapefruit, 1 Florida freight, * 3 broken and 3 unbroken cars on track; lettuce, 2 California freight, 135 baskets North Carolina express, 192 baskets Virginia boat, 4 broken and 4 unbroken cars on track; mixed Vegetables, 1 broken car on' track; mixed fruit, 1 Florida freight, 1 un- Dbroken car on track; onions, 1 Texas freight, 1 broken and 5 unbroken cars on track; oranges, 3 Florida freight, 4 broken and 4 unbroken cars on track; parsley, 5 barrels louisiana express; peas, 139 baskets South Carolina express; peppers, 85 crates Florida express; potatoes, 2 Florida, 2 Michigan, 1 New York freight, 31 barrels Virginia boat, 8 * broken and 4 unbroken cars on track; radishes, 25 crates Virginia boat: squash, 60 crates Florida express, 23 barrels Virginia boat; strawberries, 650 crates North Carolina express, 16 crates Virginia boat, 1_broken car on track; string beans, 165 baskets Flor- ida express; tomatoes, 1 Florida freight, 3 broken and 1 unbroken cars_on track; turnips, 75 baskets North Carolina’ express. BUSINESS MARKING TIME UNTIL CONGRESS QUITS ' Baltimore Leaders Await More Definite Political Trend—Regret Defeat of Mellon Tax Plan. BALTIMORE, May 13 (Special).— Business leaders here are marking time pending the adjournment of * Congress next month and a more defi- nite trend of the political situation. Defeat of the Mellon tax proposals caused widespread disappointment in _trade circles, for business men had pinned their hopes in the passage of a tax bill which would at least contain some of the important pro- visions urged by the Secretary of the Treasury. Leaders of trade, however, eme phasize the fact that while they are disappointed they are not pessimistic. They do not disguise their belief that further readjustment of costs must Le made before conditions become mabilized. Demands_for wage reductions are insistent. Some moderate readjust- ment has been made in a few of the basic industries, and others are cop- templated. There have been compara- tively few furloughs in industry in the Baltimore district, and everything is being done that is possible to avoid laying off workers. The steel trade has been more se- verely affected than any other branch. It is_estimated that operations in this line in and around Baltimore have been reduced 20 per cent from the peak reached earlier in the year. This is due, in part, to curtailment in bullding operations recently and a disposition on the part of other con- sumers of steel products to hold off temporarily. Crop reports are encouraging, and the outlook for famers is more vorable than it has been for a long time. There is a plethora of loanable runds, and bankers say existing con- ditions probably will remain until demand develops for crop moving. Thie is expected to begin around August 1. . e Have You Been Stung Yet? Some men have to get stung good and hard before they learn to be cau- ilous In making investments. Before you Invest—investigate! - i THE EVENING STAR, WASHINGTON, D. C. NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, May 13.—Glen Alden Coal stock had been bid up last week from 93% to 100 in anticipation of favorable dividend action at the meeting scheduled for today. Direc- tors did what was generally expected by declaring a dividend of $3.50 a share. In December, 1923, a disburse- ment of $2.50 was made. The stock responded with a jump of 2% points. But the action appeared to have been amply discounted and the stock changed hands most of the time around 98% Ofl shares rallied from Monday's final quotations under covering by those who had sold short on Satur- day’s price cuts in Mid-Continent and Pennsylvania crude. Buying opera- tions, however, were for the most part professional. Prairie Oil and Gas rallied 3 points or more, Stand- ard of Indiana sold a half-point higher most of the time and improve- ment generally extended from a balf point fo a point. Trading became very active -again in Lago Petroleum, but the gain was only fractional. Radio equipment stocks came in for more attention and Hazeltine and Dubilier were slightly higher. List- ing of Thompson Radio Voting Trust certificates attracted considerable attention, with trading active be- tween 12% and 12%. The report that Durant Motors is considering issuing additiomal stock continued to have an unfavorable ef- fect upon the market for the shares, which sold at a new low record un- der 15. Doehler Die Casting also was under pressure. _— NEW YORK, May 13.—Following is an official list of bonds and stocks traded in on the New York Curb Market today: A Sales in BONDS. thousa s 2.8, Allied_Packers 2 Alum 7s Alum 7s new 5 Am Cotton 0N 61! . 2 Am Gas & Elec 6s.. Am Rolling Mills 68 Anaconda 6s. 5 Taw. 1025 1088, m Hdw 61 Atlan G & W1 Teaverboard Sx 3 Deth Steel B et Steel 7s i & Ma at Ry 5s...... i Bock I & P Gi4s it Serv 7s D i Graph S« pa (ons Gas Balto 6s A Cons Gas Balto 7s.. Cons Textiles s CoP & R M 64 Cudash 5 5 Deere & ( 2 Detroit City Gan Detroit Fdison 6 .. Dunlop T & R 7s .. Dug Li PP 5 B wi Federal Sugur 6s '33 6s 125 6 ir Robt 7s lena Sig 0% 9 Hood Rubber 7s... 5 Intern Match 6% Wi Kan City Term 5ibs S Rennecott Cop 7s, Leh V1 Hr Ry 5s w Ohio Power e B. Phila Elec 6s... Thila Elec 5% Phila Elec 5% n 0l 8.l 3 Superior Ofl Corp Swift & Co fs.. TnELL & P 51 Tn Oil 8s B 5 Un Ol 6s B *2 2 Unit Ry of Hav 7148 Vacuum Ol 7s...... 107 Webst Mills 6i5s wi 100% in units. 200 Anglo-Amer Ol ... 1100 Alantic Lobos ... 50 Ruckese P L . 400 Chesebrough new wi 4 10 Eureka P L . 200 Gal Sig Oil . W 600 Humble 0 & K new Saiy o0efilinois P L ..... 450 Imp Oil of Can .. 100 Indiana P L ...... 2600 Inter Pet Co, Washington Stock Exchange. SALES. Washington 6s '33-$1,000 at 101%, $500°a¢ 101%, $5:000 at 1007 % Washington Gas 56—$1.000 st 95%, $2,000 at 5%, $2.000 at 95%, $1,000 at 933 Capital_“Traction 5s--$1,000 at 9733, $2,000 1t 97%. $3,000 at 974, $4.000 at 9715, $1,000 Wi nin‘ta; Rwy. & Elec. com.—15 at 72, § 5 at 72. at 48, 10 at 48, Commercial National Bank—10 at 140, 10 at_140, t 140, 10 at 140. Riggs National Bank 3 ut 2891 ‘Washington Loan and Trust Co. it 395. Security Storage Co.—1 at 340, 1 at 340, 2 at 340. AFTER CALL. Potomac Elec. deb. 6e—3$500 at 100%. ‘Washington Rwy. & Elec. pfd.. at 74, UNLISTED DEPARTMENT. ‘Washington Title Iasurance Co. 50 at B, 50 at 8. strict Title Insurance Co.—8 at 15%. Chapin-Sacks 86—50 at 7. Money—Call loans, 5 and 6 per cent. BONDS. ‘Bid and Asked Prices. PUBLIC UTILITY. American Tel. & Telga. 4s.. American Tel. & Teiga. 4is. Am, Tel. & Tel. ctl. tr. 3s. Am; Tel. & Tel. cony. és. ‘Anacostia & Potomac 5 5 Anacostia & Potomac guar. s.. C. & P. Telephone 58. C. & P. Telephone of Va. Ba. B. R. Asked. it 105 99 Capital Tracti Georgetown Gi Metropolitan R. Potomae Elec. Potomac Eiec. Potomae Elec. Potomac _Elec, . Balt. & Anna) ngton Gas 58, Washington Gas 6s. Wash. Rwy. & Elec. MISCELLANEOUS. Wash. Mkt. Cold Storage ardman Park Hotel 6s.. STOCKS, PUBLIC UTILITY. District Farmers' Federal-American Libert Lincoln National Metropoiitan. EFNNEEENREEE w National ‘Bank ‘ot Washington.. TRUST COMPANY. American Security & Trust. National Savings & Trust.. Unfon Trust. -.. Washington Loan & Trus SAVINGS BANK. Bu¥ 58EaE = o United States. Washington Mechaica' bia Title. SeaBetate Tidl 'MISCELLANEOUS. enthaler Linotype. N hoaal Mige. & Tnvest. 01d Dutch Market com. 0ld_Dutch Market 90 Magnolia_ Pet 20 N Y Transit 110 Northern I L. 400 Ohio OIl new 780 Prairie Ol & 200 Penn Mex Fuel 215 Prairie P 30 Sonthern P L 11400 § O Indiana . 800 § O Kansas nen 400 8 O Kentucky . 10 8 O Nebraska 9008 0N Y new . 10 Washington Ofl Sales In INDEPEND! oundreds. 2 Ark Nat Gas. 2 Hoston_Wyo Ol 5 Carib_Synd Ea 5.t = % & # 18 Creole Synd . 360 Engineers Pet . 10 7 122 5 10 Livingstone Pet 50 Mex 23, 832.88 # I L L £ Fesd #;fi oaSeSeTen Northwest Oil. Omar 0il & G BS?; n Bl ua X 5 Seaboard 0il Sunstar Ol Wilcox 0il & Woodley Pe! 5 INDUSTRIALS. Adirondack _Power. Am Cynamid Am G & Fl Armour Les figfi—_ 8 PR S Borden & Co. . Ror & Co pf R Gawi Brit-Am Tob Co reg Brooklyn City R R Candy Prod Cor wi Centrifugal 1r Pipe (hecker Cab Mfg A 215 Chie N B T new wi 3 Chic N B T new wi Commonw Pow Cor Cuba_ Co Doehler D' C ¢ wi. Dubilier O & Radio Durant Mot Du Pont Motors .. ec Ity Secur (o s, Has Hevden Chem 3 Hudson Co pfd ... Kresge Dept Store Lehigh Power Lehigh Val Coal Leh Val Cl new wi Mesabi Tron 5 Mideale Co s | Stock Richmond Itad Rickenbacker Singer Mfg. Thompson R v t cts 12% “nited Rakeriex TUnited Retail Cand Unit Ret (an fr sh 2 T'nit Shoe Mach Co. Ward Bak Co A wi Ward Rak Co B wi Ward Bak Co pfd. 3 5 Yellow Taxi Co NY 2013 MINING, Am Commander Min Am Exploration . 3 Biack Oak Gold M Canario Copper Contral Amer M Con Cop Min new. Corter Siiver Cresson Gold Diamondnd 11 K e G Min Lid Ind afield Hawthorne_Min Inc Hill Ton da Hecla Min 3 Howe Sound 2 Independence Lead. Cans .o 8 Kay Copper Corp.. Lone Star ....... 5 Mason Val (...l Metals Prod Co Mohican Cop ional Tin. w Dominion’ Cop w Jersey Zinc.. evada Hills Min. Ohio Cop s Plymonth Lead Min Premier Gold Mine Red Hill Floreace. Red Warrior Rocky Mt S R R & S R pfd. Silver Pick o g Silversmith Mines . . So Amer Gold & P. 3% Spearhead Gold ... .03 Standard Silver Id . Teck Hughes 2 Tonopah Belmon Tonopah Divide Tonopah Extens Tonopah Min United Eastern .... .{ United Verde Ext.. Unity Gold 3 Walker Mines W 885353 DESP - WALL STREET BRIEFS. By the Associated Press. The outstanding feature of the money market continues to be the great ease in obtaining loanable funds, the supply of which is larger than ever at 3% per cent. Superior Oil Corporation reports a deficit of $86,370 for the first quarter of 1924, against a deficit of $225,871 in the preceding quarter. The financial district hears that the Shell Union Oil Corporation of Delaware, controlled by the Royal Dutch Shell interests, plans to sell its stock interest in the Union Oil Com- pany of California at a reported price of between $25,000,000 and $30,000,000. Total capital investments of about $17,500,000,000 are represented by the public utility industry of the United States, ranking second to the rail- roads and nearly twice the invest- ment of the next largest industry, iron ‘and steel, according to the N: tional City Company. As part of a plan to list the shares of the Universal Pipe and Radiator Company on the New York Stock %X- change, its stockholders have voted to renew the offer to holders of Iron Products shares to exchange their stock for shares of the new company, subject to approval of the directors. Earnings of $29.382,097 reported by the St. Louis-San Francisco railway since the first of the year show & de- cline of $864,467. The Minneapolis and St. Louis railroad also réports a de crease of $710,230 for the same period, with a total of $5,221,915. Shipments of the Maxwell Motors Corporation wers 18 per cent greater in the first four months of 1924 than in the corersponding period of 1923. A national census of production will be taken in Great Britain in 1925 covering manufactures, agriculture, fishery, mining and building, the Bankers' Trust Company of New York states. A similar census was taken in 1912, but the war interrupted publication of the report.. Previous w%l;k of that kind was completed In 1907, COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY LYNN, Mass, May 13.—Additional wage awards affecting the shoe in- dustry are expected to be handed down shortly by the Massachusetts State board of arbitration, which has Jjust approved a reduction of 20 per cent in the wages of stitchers in| thirty-nine Lynn factorfes. ATLANTA, May 13.—Trustees of the defunct Shippers’ Compress Company have asked court permission to sell the properties taken over by the com- pany from the Atlantic Compress Company for $1,450,000. The sale will put under the hammer the larg- est cotton compressing equjpment east of the Mississippi. PHILADELPHI4, May 13.— Mem- bers of the metal branch of the National Hardware Association have decided that there should be stand- ardization of equality in all galvan- ized roofing to enable dealers to meet competition from other snaterials. FORT WORTH, May 13.—After a period of activity which has lasted for three months, contracting for wool on the sheep’s back In Texas has suddenly come to a standstill be~ cause of the gradual decline in the| range market. SEATTLE, May 13.—About $15,000,- 000 worth of raw silk brought here from Japan this week Is now on the way to eastern markets. ST. PAUL, May 13—There are twenty co-operative gasoline sales organizations now in operation in Min- nesota fighting the high prices of mo- tor fuel and oils.. Five of these com- panies are selling gasoline at 18 cents a gallon, or 3.8 cents below the regu- lar price set by the refiners. The oth- ers sell at the 21.8-cent rate but dis- tribute profits back to purchasers at the end of the year. WINCHESTER, Va., May 13.—Vir- ginia has shipped 9,649 carloads of apples this season, as compared with | 6,734 carloads for the same period | last year. _Prospects for a fall crop of apples are very bright. The trees of the Valley of Virginia—one mil- lion of them from Harrisburg, Pa. to Staunton, Va.—are in full bloom. PORTLAND, Ore. May 13.—There | has been a general advance of 20 cents a barrel here in prices of do- mestic flour. The advance, millers say, is due to the scarcity of milling | wheat and dry weather in the wheat belt. The new price of patent flour is $6.80 a barrel. There has been no change in export brands. FARRELL, Pa., May 13.—The Car- negie Steel Company has blown out two of the three blast furnaces at this place. The American Sheet and Tin Plate Company, has cut produc- tion here to about fifty per cent of capacity. Of the 51 independent open- hearth” furnaces in the Mahoning Valley twenty-three are scheduled for melting. Fifty-three of the 120 sheet and jobbing mills are active. PITTSBURGH, May 13.—Coal contin- ues to drag. A fair demand exists for slack in fiv fifteen carload | lots and on such sales fair prices are | obtained producers have business written in gas slack at $1 Others are quoting as low as $1.60 while steam slack is still quotable at | $1.25 to $1.40. HEADS N. Y. EXCHANGE. ' E. H. H. Simmons, Broker Clerk for Years, Elected President. NEW YORK, May 13—E. H. H Simmons, who entered the financial district as a brokerage clerk twenty- Seven vears ago, yesterday _was lected ‘president of ‘the New York xchange. He succeeds mour L. Cromwell. who retires serving three consecutive terms Becoming a member of the stock | exchange at the age of twenty-three, Mr. Simmons was one of the young- est brokers ever admitted to the in- stitution. Nine years later he had become a governor of the exchange and in 1921 was elected vice presi- dent, serving meanwhile on virtually gyery important committee. He is a partner in the firm Rutter & Gross. o Thomas R. Maloney. a former leader of the New York State As- sembly, was elected president of the Consolidated Stock Exchange yes- terday. after brokerage —_— BIG PEACH CROP IN VIEW. | Prospects Reported Unusually Good in Southern States. Prospects for a uniformly good Ppeach crop in southern states are re- ported to the Department of Agricul- ture by its field forces, basing esti- mates on conditions of May 1. An excellent bloom, with fruit set- ting well, is reported in Virginia, while in North Carolina damage re- sulting from cold last month was re- garded as slight. Some injury to fruit was caused by late frosts in South Carolina, and another heavy crop is expected in Georgia, where a recent windstorm avoided the main peach belt. Florida peach prospects are good, as in Oklahoma, while Alabama’s crop is showing well. Louisiana and Ar- kansas crop conditions were reported as slightly unfavorable for the month. Crop _conditions by states were es- ;" Virginia, 89 per cent of nor- mal; North Carolina, 83; South Caro- lina, 78; Georgia, 80: Florida, 85; Ok- lahoma, 84; Alabama, 76; Louisiana, 69; Arkansas, §5. NEW YORK MONEY RATES. NEW YORK. May 13.—Call money steady ; high, 3% ; low, 3% : ruling rate, 33 ; closing bid, 3%. offered at 3% ; last loan, 3% ; call loans against accept- ances, 3%. Time loans, easy; mixed collateral, sixty-ninety days, 4; four- six months, 4% ; prime commercial pa- per, 4%. _— Ruling on Passenger Fares. Certain passenger fares on the Alabama _Great Southern _railroad other Alabama carriers, ordered by the state, would result in lower fares than the corresponding interstate charges authorized, and would be an unjust discrimination against inter- state commerce, the Interstate Com- merce Commission held today. FIRST MORTGAGES FOR SALE THE TYPE OF SECURITY CONSERVATIVE IN. VESTORS BUY IN DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Louisiana Ave. N.W. NOTICE Our Loan Department —nhas organized a credit branch Whereby investors can secure our First Mortgage securities on a partial payment plan. A wonderful opportunity for government employes " to ac- Gumulate a substantial asset with their monthly savings and receive . 1% Send for Full Particulars Chas. D. Sager Loan De; pt. 924 14th—M. 36 UESDAY, MAY 13, 1924, OUTSTANDING FEATURES OF U. S. FOREIGN TRADE Increasing exports and. decreasing imports characterized the foreign trade of the United States for the ten months ending with April as com- piled today by the Commerée Depart- ment, For April merchandise exports were $348,000,000, against $325492,175 for the corresponding month last year. This. compared with imports of $324,- 000,000. In April a year ago imports were $364,252,544. Exports for the ten months ending with April were valued at $3,370,938,- 080, against $3,320.416,950 for the cor- responding period ending~in April, 1923, an_increase of $20,21,130. Im- ports for the ten-month period were $2,077,077,487, against $3 088,186,074 for the corresponding period last vear, a decrease of $111,108,87. Gold exports for April were valued at $1,309,537, against $63,237 for April 1923.° Gold' imports ‘of April, 1924, were $45.418,115, against $9.188,470 for April, 1923, THE value of gold imports for the ten months ending April, 1924, was $350,770,871, against 3218499816 for the same period in 1923 Gold ex- pofts for the ten months ending April, 1924, were $9,345,636, against $47,- EQUITABLE Co-Operative Building Association Organized 1879 44th YEAR COMPLETED Surplus - $1,248,320.98 Systematic Savings —Each pay day lay aside part of your salary at the Equitable: It is a method of saving that will prove most effective. Subseription for the 86th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F ST. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Sec’y. 649 047 for the corresponding period last year. Gold imports exceeded gold exports during April by $44,037.578, and for the ten months ending April, 1924, by $341,425,235. Silver exports for April were valued at $7804,689, against $4,336,338 for April,” 1923. " Imports of silver for April were $3,907,745, against $4,261,- 869 for April, 1923. Wanted Second Trust Notes We have clients with funds to purchase good SECOND TRUST NOTES Ip denomina- tions of from $500°to $10,000. Low rates if security is good Apply at Once to Our MORTGAGE DEPARTMENT HANNON & LUCH 713 and 715 14th Street N.W. Main 2345 Consumers Power Co. 519 Bonds E:rnings three times interest charges. Ma- turing in thirty years. To yield.5.82% Complete circular on requeat. The National City Company ‘Washington—741 15th St. N.W. Telephone—Main 3176 THE SOUNDEST INVESTMENTS —are those based on income- producing real estate. It can- no t be destroyed or removed. This Company Sells FIRST MORTGAGES Over a Quarter of a Century Without a Loss ob! B. Main 2100 —based Real Estate tions and on terms that bring them within the reach of the small investor. on Washington in denomina- Your inquiry involves no ligation. F. SAUL CO. 1412 Eye St. NW. | FINANCIAL. Your Own Interests-— demand that your sav- ings be placed where they will earn the maxi- mum consistent with absolute safety. These conditions are ideally fulfilled in our i = First Mortgage Investments $100—$500—$1,000 MRS CAFRITZ: Ca 1416 K Street Main 617 Wilkins Bldg. 5 - Room Suite Private Corridor and Toilet Light and sunshine -high, quiet—above the noise—in the very center of Washing- ton's busy financial center. FOR PARTICULARS APPLY Randall H. Hagner & Co. 1207 Conn. Avi Phone Main 9700 Money to Loan Joseph I Weller 20 Wask. L. & Trust MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST andall % y@m’fl v %. 7207 %mze‘r//m/ Hvenue APPRAISED— but how and by whom? VALUE in real estate is not always obvious, but must be determined by evi- dence that justifies and proves the value. CONSERVATISM AND CARE always mark our expert loan appraisals to the extent of subordinating conjecture -and irresponsible guesses to established facts. OUR POLICY has made it possible for us to claim, with excusable pride, that not a single dollar has ever been lost by any in- vestor in our FIRST MORTGAGE NOTES The current rates are 67 and 7%. let us submit details. MORTGAGE INVESTMENT DEPARTME) HANNON - & LUCHS — 713 and 715 14th Street N.W. MAIN 2345 New Issue Business: It produces also 47,000 Shares Authorized (without par value) 140,000 shares Reserved to retire underlying issue ........ R. E. Thompson Radio Corporation Capital Stock (Voting Trust Certificates) < +eom=127,100 shares 12,900 shares OQutstanding The Company has no funded debt. Transfer Agent: Registrar: COAL & IRON NATIONAL BANK, X GUARANTY TRUST COMPANY OF NEW YORK The R. E. Thompson Radio Corporation. newly organized under the laws of the State of New Jersey as a holding company to control the R. E. Thompson Manufacturing Company and the Wireless Improvement Company, both of which are well known in their respective fields in the manufacture and marketing of high grade radio apparatus. The R. E. Thompson Manufacturing Company manufactures and sells THOMPSON NEUTRODYNE Radio Receiver LAFAYETTE NEUTRODYNE Radio Receiver THOMPSON MAGNAPHONE Loud Speaker the ARMSTRONG REGENERATIVE Type of Radio Receivers ‘The Company has licenses.under the “Neutrodyne” and the “‘Regenerative” patents, which cover the two dominating types of radio receivers in use in the home radio industry. Management: Mr. R. E. Thompson, who is president of the R. E. Thompson Manufacturing Company, will be president of the R. E. Thompson Radio Corporation. business will continue substantially unchanged. These shares are offered when, as and if issued and ac incident to their issue by counsel, Messrs. cipted byus, and subject to aw;«;l' n{ verett, Clark & Benedict, Price: $12.50 Per Share The right is reseroed to reject any and all applications and also in any event to allot less than the amount applied for. Delivery may be made in the form of interim certificates exchangeable for definitive Voting Trust Certificateswbenprepared. kd E.W. Clucas & Co. 74 Broadway, New York C. H. Hensel 26 Exchange Place, New York The management of the the formalities City. Morin S. Hare & Co. 11 Wall Street, New York All statements in this advertisement are made after careful investigation and while not guaranteed are believed to be correct.