Evening Star Newspaper, September 8, 1924, Page 17

FINANCI WEEK OPENS FIRM AT GENTER MARKET, Cantaloupes Drag—Onions Are Cheaper—Poor Demand for Sweet Potatoes. The daily market report on fruits and vegetables, compiled by the Market News Service Bureau of Agri- cultural Economics, today says: Apples—Supplies moderate; demand limited; market steady. Virginia, bushel baskets, various varieties, 1.25 81.75; few fancy Grimes, 2.50. Cantaloupes—Supplies moderate; too few sales to establish market; Cali- fornia, Turlock section, standard Casabas, few sales, 1.75a2.25; Honey- dews, 2.25a2.75 Onions—Supplies moderate; demand light; market slightly weaker. New York, 100-pound sacks, yellow varie- ties, No. 1, 2.75. Peach Market Firm. Peaches—Supplies liberal; demand good for good stock, slow for poor stock; market firm. Virginia, Mary- land, 6s, Elbertas, medium to large sizes, 2.50; Virginia, bushel bas- kets, Belles, small sizes, 1.50a1.75; some poor quality, 1.00a1.25. New Jer- sey, bushel baskets, Elbertas, large size, 2.50a2.75. Potatoes—Supplies liberal; demand moderate; market strong; New Jer- sey, 150-pound sacks Irish cobblers, S. No. 1, 2.50a2.65 sack; giants, 25a2.35 sack. Dock sales, Eastern Shore Virginia, cloth-top, stave bar- rels, Irish cobblers, U. S. No. 1, 2.25a 2.2.35. Sweet Potatoes Dull. Sweet potatoes—Supplies light; de- mand light; market dull; Eastern Shore vellow varieties, No. 1, 5.50a6.00; Virginia, cloth-top, stave barrels, North Carolina, cloth-top, stave bar- rels, yellow varieties, No. 1, some poorly graded, 4.00a5.00; few higher. Lettuce—Supplies liberal; demand moderate; market fairly steady; New York, crates, big Boston type, 1.50a 1.75; few, 2.00. Cabbage—Supplies light, light; market fairly steady; York, bulk, per cwt, round 1.7522.00. Tomato demand New type, Prices Firm. Tomatoes—Homegrowns; supplies, moderate; demand, moderate; mar- ket, steady; homegrowns, Y%-bushel hampers, No. 1, 75a1.00. Cucumbers —Supplies, liberal; demand, slow; market, dull; ew York, bushel baskets, Dills, 1.00a1.50. Celery—Sup- plies, light; demand, light; market, steady; New York, 2-3 crates, Golden Self Branching, in the rough, best, 2.50a3.00. Grapes—Supplies, moderate; Virginia, 2-qt. Climax baskets, Ni- agaras, 18a20c each; 6 baskets car- riers, Delaware, best, 2.00a2.25; Con- cords, 2.00. EXPORTS OF GRAIN GAIN DURING WEEK Much More Wheat Shipped, But Barley, Corn and Oats Show Decline. rts of grain from the United stf:xepso Iast week totaled 5,821,000 bushels, against 4,045,000 bushels for the previous week. The figures for last week, as com- pared with those the week previous, made public by the Commerce De- partment today, follow: Barley, 67,000 bushels, against 243,- 000; corn, 74,000, against 94,000; oats, 7,000, against 14,000; rye, 698,000, against 166,000; wheat, 4,975,000, against 3,532,000 United States and Canadian wheat flour in transit, 443,000 barrels, against 219,000. CHICAGO TRADERS VOTE ON DEALING IN COTTON By the Assoclated Press. CHICAGO, September 8.—Members of the Chicago Board of Trade today were voting on a cotton futures trad- ing market as part of the local ex- change. For some time cotton futures trad- ing has been discussed. Interests here that have dealt in cotton have had to go to New York or New Orleans to do their trading and these dealings have been growing in importance, ac- cording to members of the board. A recent investigation resulted in rules being formulated under the cot- ton futures trading act and approval having been given by the bureau of cconomics of the federal Department of Agriculture, the rules, were posted and submitted to a vote of the mem- bership today. o RAIL HEARING OPENS. Hearings on the Southern Pacific railroad’s application to acquire con- trol of the El Paso and Southwestern Rallway system were opened at the Interstate Commerce Commission to- day before Charles D. Mahafiie, direc- tor of the Bureau of Finance. The Southern Pacific _application asked authority to issue 280,000 shares of common stock of $100 par value and $29,400,000 of 5 per cent 20-year collateral trust bonds, both to be is- sued direct to the kI Paso and South- western Company in exchange for securities and properties to be trans- ferred by it to the Southern Pacific. J. 8. Kruttschnitt, chairman of the Southern Pacific executive commit- tee, testified that more efficient and economical operation of the El Paso afid Southwestern system would re- sult from its acquisition by the Southern Pacific. 4 -— SPURT IN DRY GOODS. &pecial Dispatch to The Star. NEW YORK, September 8.—The cotton goody markets opened the new week with a fair spurt of activity, but with prices little changed from last week's closing figures. Print cloths remained at 8% for 64 by 60s and 9% for 68 by 72s. The raw silk market was quiet, with prices down from § to 25 a pound, the range being: XXA, 13-15 denier, 6.55; XXB, 6.45; extra, 6.35; best No. 1X, 6.30; XXA, 20-22 denier, 6.65; Canton, 14-16, €.15; Canton, 20-22, 5.85. INCREASE IN WAGES. CLEVELAND, September 8 (Spe- cial).—Nearly 25 er cent of the large industrial plants here will increase their working forces this month, ac- cording to a survey conducted by the labor committee of the chamber of commerce. Total employment in Au- gust decreased 1% per cent from the July figures although automobile plants increased their forces nearly & per cent, and metal products other than steel added 6% per cent to their pay Tolls. Average wages increased 4 cents to 7 cents an hour. e e Protect Your Money. Lite's drama, in a major sense, is a conflict between man and his en- vironment. Savings and wise in- vestments are forces which valldate the human will, making it possible for an individual to determine the future economic status of his family. THE EVENING STAR, WASHINGTO NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN, NEW YORK, September $.—The selling movement, predominant all last week, continued in the curb mar- ket trading today. Losses of a half point were common and in numerous instances declines extended heyond a point. Most of today's offerings rwe:’l‘ehle:t;d bl(qllhilllon of accounts ich had become recent decline, fapaltedRy S The new Duz common at 22% lost two points from Saturday’s final. Of- ferings appear to be coming from so- called “joy riders,” who had sub- scribed with the intention of procur- ing a quick profit. Appalachian Power at 74, American l Forelgn Power at 31, United Verdl Extension at 26% and Red Bank Oil at 44 were outstanding points of weakness and were off a point or more. In the case of United Verdi offerings appeared after publication of production figures’ for August plac- ing the total at 4,001,746 pounds. Midvale Company was heavily of- fered for a time, blocks of 1,000 shares changing hands at a recession of a half pint. The weakness was coin- cident with “selling of some of the steel shares on the Stock Exchange. Canario, Kay Copper, Hecla Mines and Jib Consolidated came in for at- tention, the last named retracing part of the recent loss in the early deal- ings. ——————— NEW YORK, September 8.—Fol- lowing is an official list of bonds and stocks traded in on the New York Curb Market today: Sales in thousands. Low. Close W% 1% 85 853 103 95% 86 AV WS % s 2B & O Ry 5s wi Beaverboard bs Belg Can Beth Steel 7s '35 Can Nat Ry Eq 7 Childs Co_6s Cit Serv 75 D .0100 Con Gas Bal 5%s B Cons Textiles a8 Deere & Co Fed Sugar 6s Fisher Body 6s '25. Fisher Body 6s '26. Fisher Body 6s '27. Fisher Body 6s '28. Grand Trunk Gult 01l Corp 5s. 3 Gulf 0il Corp 5 Intern Match GY Keaonecott Cop 7s... Lehigh Pow 6s. Leh Val Lehigh Val 99 Lig Win Lig ¢ e 7s. 1055 Menitobs Power 7s.. 100 Mo Pac Ry 5 Morris & Co t Distill Pr at Leather 8s.... Nrth Cnt Ry 58 A wi rthn Sts Pw 6i4s. 96% thn St P M 615 C 101% Penn Pw & Lt 5s .. 92 Phila E'ec 5%s 53s. 102% Pub Svof NJ 6e wi 96 Pub Srv of N J 75. 108 Pure 0il Co_6%s Shawsheen 78 B8l EPQUIPTRT S SONY BONYis 2. SON Y 7s'30 . SON Y731 . 80 N Y 8y, Sun OIl 6s. Tnited Ol Prod Yacuum Oil 7 Virginia Ry 5 Webster Mills 6! FOREIGN BONDS, Ind Bk Finland 7s. 96% Ind Bk Japan 99% Kgm Neth'nds 6s ‘54 Low Aus El 6%s wi Rep of Peru 8s. Russ Govt 5%s. 7 Russ Gov 6igs. 10 Russ Govt 61as A 3 Swiss Govt 5%s. Sales ~ STANDARD OIL ISSUES. in_units. 400 Anglo Am 01l 100 Atlantic Lobos 130 Buckeye P L 100 Cheseb Mfg ey 20 Eureka P L 50 Gal Sig Oi 500 Humble Oil & Im Indiana P L o.0 Interl Pet Co Lid Pet Magnoli Nat_Transit Washington Stock Exchange SALES. Potomac_Electric Cons. 5s—$1,000 at 97%, 000 at 97%, $1,000 at 97%, $1.000 at 97%. hington Gas 55—$500 at 97%. Washington Gas 6a '33—€300 at 100%, Washington Rwy. & Elec. 45—$1,000 at T4%, $1,000 at 743, $2,000 at T4%. Capital Traction Co.—5 at 91%. Washington Rwy. & Elec. com.—10 at 78, 10 at 783, 10 at 78%, 10 at 78%, 10 at 79. .. Washington Rwy. & Elec. pfd. 15 at 74%. i3 at 743, 10 at 74l 20 &t 74i4, 5 at 743, 10 at 74%. 100 at 75, 10 at 5%, 10 at 75%4, 20 at 75%. 10 at 753, 10 at 753, Lanston Monotype—S at 78%. 10 at 78%. National Mtge. & Invest. pfd.—50 at 9%. AFTER CALL. Riggs National Bank—5 at 300, 10 at 300, 10_at 300, 30 at 300. ‘Washington Gas Light—5 at 50%. Potomac Electric g. & r. 7s 1941—$1,000 at 107%. Usion Trust Co.—10 at 167, 2 at 16a. Washington Gas 6s '33—$500 at 102, Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIO UTILITY. Ameriean Tel. & Telga. 4. American Tel. & Tviga. 434s.... Am. & Tel. ctl. tr. 5a...... Ami Tel. & Tel. conv. 6.. Anacostia & Potomac 5: o Anacostia & Potomac C. & P. Trlephone 5. C. & P. Telephone of Capital Traction R. R. City & Suburban Georgetown Gas 1st 5s. Metropolitan R. R. 5s. Potomac Electric 13t 5 Potomac Potomac Elec. deb. 6a. Potomac Flec. 8s 1953.. . Elec. Pow. &. . & Flec. gen. 6s. MISCELLANEOUS, D. C. Paper Mfg. 6s. 5 Riggn Realty 58 (long). Riggs Realty 5s (short). STOCKS. PUBLIC UTILITY. Capital Traction. Washington Ga: Norfolk & Wash. Steamboat. Terminal Taxi com. NATIONAL BANK. tional Capits Columbia .. Commereial District .. Farmers & Federal-American Liberty Lincoln . . National Metropolitan. w Commerce & Savings... Fast Washington. Securlty Savings & Com Seventh Street.. ited Stale: Washiogton Mecha FIRE INSURANCE. American Fireme! National Unien b TITLE INSURANCE. Columbla Title. Real Estate Title. MISCELLANEOUS, 0ld Dutch Marki Tanston Monotype. Security Storage . Washington 10 8 0 Ohlo. . 200 290 290 1300 Vacoum O 64% 63% ales INDEPENDENT OIL STOCKS. @ bundreds. 1 Ark Nat Gas 5 Carib Synd 3 Cit Serv ptd B . 31,000 Cities Sery C scrip #$1,000 Cities Service scrip 12 Creole Synd . 10 Federal Oil . 9 Gulf Oil of Pa. 51 Lago Pet 10 Latin-Amer 7 Livingston Pet 7 Mount Prod. . 41 Mutual Oil vot cf 7 New Bradf Oil 1 New Mex Land 1 Okla Nat Gas. 30 Penn Beaver Ol 13 Pennock Ol . 5 Woodley Pet. INDUSTRIALS. 1 Acme Coal new. 8 Allied Pack pr p 1'Am Cot Fabric ptd 20 Am Gas & El new 1Am L & Tract ... 38 Am Power new ‘wi 1Am Power & Lt.. Am Storesn we .. Am Fgn Power wi Am Stores pew Atlantic Fruit Borden & Co . Burr Add Mach Bur Ad Mch nw pt Candy Prod Co wi . Checker Cab Mfg A Chic Nip A . Chic Nip B Trust Childs Co new Com Power Corp. Com Pow Corp Pt Cont'l Tob Inc Dhir Die Cstng Dubilier C & Radio Dunhill Int’l Inc Du_Pont Motors. Dus A wi .. Bast Penn El Co. El Bnd & Shre pfd Fed Metals . F & W Grd 510.2%5c Film Insptn Mach. Foundation Co pfd 1 Gillette S R 5 Ginter Co 8 Gen JMotors 1 Glen “Alden_Coal iyear Tire 1 PUPISPHUTOTOI O 1 0o oo B2 BB 888 2 BB kS Wi 9 Heyden Cl 3 Hudson & Mann RR 8 Hudson Co pfd.... 2 Inter Cont’l Rubber 7 Jones Radio .. 1 Keystone Solether. 7 Lenigh Power sec: 1 Lehigh Val Coal. 174 Lehigh Val Coal N FFFTEE . 1N Y Tele Copfd .. N Y Transportation Nickel P new wi. 10 Nk1 PI new pfd wi 1 Ombs Crp A pfa wi 8 Prophy Brush wi 2 Radio Corp 20 Radio Corp pfd . 1 Rad Crp new A 1 Reo Mot . 31 Rov Rad G 1 8il Gel nw vt tr cfs 1 Singer Mfg . 1080 C & I new. E 1 Southern Cal Edison 5 Standard Pub Co A 6 Bwift Intl 1 Tenn Blec Power 11 Thmpu Rd vt tr cfs 2 United Bakeries ‘o Lt & n el 545 £ 1 il 1 1 2 3 1 1 s R M8 ow cfs 12 MINING. 20 Arizona Globe Cop .06 33 Canario Copper . 30 Con Cop Mines. 20 Cortes Silver. 210 Diam Black B 20 Emma_Silve 2 Fng Gold M 40 Eureka Croesus. 80 Flor Gokifield M. 10 Goldield *Cous. E 10 Goldfleld Deep Min . 100 Goid Zone 10 Green Monster 10 Hardshell Min. 10 Harmill Div. 10 Hawthorne Mn: 4 Hecla Mine 190 Independence 1 Jerome V Devel 185 Jib Cons ... 22 Kay Copper Corp. 110 Lone Star ... K 8 Lorrain Sil 8yn Ltd 1 Mason Val ....... 40 McNamara Cres Dv . 10 Mohican Coj 1 New Cornelia " 10 Nevada _Hills 6 Nipissing 43 Ohio Cop 3 Prme Preu 41 Piymouth Id Mines 10 Ray Hercales Inc . 10 Red Hill Florence. 110 Reorgnzed Dv_ Anx 100 Reorgnzed Kewanas 6 Ry Mt. § & Ref.. 2 Rky Mt 8 & R pfd 50 Sil King Div Min. 20 Epearhead _ Gold 12 Tonopah Extens G Tonopah Min . 27 Trinity Copper 4 1 United Verde Ext. 40 U 8 Continental 4 Unity Gold . 10 Wenden Copper . 2 West End Cons . 100 West End Ext ... femecim l BOSTON STOCK MARKET. BOSTON, September 8.—Following is a list of today’s highest, lowest and closing prices for the most ac- tive stocks dealt in here: =8 1 3¢ k| S ar-.#t American Tel & Tel. ‘American _ Wool. Arcadian_Cons. Arizona Com. Boston & Maine. Loew’s Theater..... Maine Central. Mass G Mass G Mohawk Nat Leather . New Cornelia New Eng T & T.. NY. N H&H. Pacific Mills . Reece. But I St. Mary’s Land . Superlor & Hoston . Swift & Co Swift Intern: United Fruit . United Shoe. M United Shoe Mach pfd. U S Smeit .. s U 8 Smelt pfd. b Metal Ventura Oil Waldorf . Warren Eros TREASURY CERTIFICATES. (Guotations furnished by Redmond & Co,) ——Noon.—— Bid. Offer. 100 17-82 1003 100 2332 101 27-82 10135 1013 101516 101 7-18 101 11-16 101 25-32 102% 102: 101 1132 101 S1.32 102918 102 1116 17-32 102 2132 STOCK PLAN APPROVED. NEW YORK, September $.—Stock- holders of Congoleum Company at a rpecial meeting today ratified the proposed increase of 750,000 shares common stock, making the total 1, 750,000 authorized. The meeting ad- journed for two weeks, awaiting fur- ther information on other points to be voted on. Décember 15, March 13, 1923 March 13, 103 June 15, 1925 December 15, 4%s March 15, 1026. 4igx September 15, 1926. 4%s March 15, 1927. 418 December 15, 1927... X 4%s 924. s 4 "fi BANK CREDT HTS *NEW HiH LEVLS Reserve Board Survey Re- ports Great Increase in Buying of Securities. Notwithstanding a lack of call for money on commercial loans, the total volume of bank credit in use in the United States in the last two months has gone to record high levels, the Federal Reserve Board observed in a survey, results of which were made public today in the Federal Reserve bulletin. It declared that banks, more than ever before, have employed their surplus funds in purchase of securi- ties, and added that there still is re- flected an abundance of loanable funds. Purchase of securities by banks and the great increase in demand de- posits were regarded by the board as the outstanding banking develop- ments of the last 60 days. Demand deposits, it reported, have increased more than one billion dollars in banks in the leading cities in the last four months. “The total volume of bank credit in use” the board said, “notwith- standing the absence of growth in commercial loans, has been at- a record high level, and the continued decline in money rates has not been due to a reduced volume of commer- cial borrowing but has reflected an abundance of loanable funds. The increased volume of funds at the| banks has arisen largely from the| return flow of currency from circu- lation and the continued, though somewhat decreased, imports of gold from abroad. Short Term Loans Cheap. “These funds have in a large part been added to bank deposits in finan- cial centers and have been employed in the purchase of investments and in an increased volume of loans on stocks and bonds. With current credit requirements of business rela- tively constant, the increased volume of loanable funds has resulted in an exceptionally low level of rates on short-term loans, and these rates have declined considerably below the level of long-term rates. The re- cent changes in the banking situa- tion are in general characteristic of a perfod when the volume of business activity is not increasing, when bank funds are abundant and easy conditions prevail fin the money market.” The increase in the demand de- posits, the bulletin continued, has been largely in the industrial and financlal sections of the country and within those sections in cities having a population of 100,000 or more. There was, however, some Increase shown in demand deposits in banks in rural communities, but this was in conse- quence of the crop movement. In all sections, demand deposits rose more rapidly than time deposits. Bank Balances Larger. As a result of this increased de- posit liabilities, smaller banks, it was pointed out, have been faced with larger reserve requirements and there has followed a consequent growth of member-bank balances with the 12 federal reserve banks These balances reached $2,105,000,000 on August 13, the largest on record since the organization of the federal reserve system. The growth of these balances, it was explained, has been more rapid than usual because of the character of the deposits, the increase taking | place largely in centers where the re- | quirements by law are from 10 to | 18 per cent as against a require- | ment of 7 per cent in the rural dis- tricts. LIVE POULTRY LOWER. CHICAGO, September 8.—Poultry, alive, lower; fowls, 17a24%; springs, 26; roosters, 15%. £ D. C., MONDAY, .SEPTEMBER 8, 1924, TODAY’S NEW ISSUES. NEW YORK, September 8.—New bond offerings today were led by $10,396,000 City of Los Angeles bond, Wanted Bond Salesman Exceptional opportunity with established firm for ex= perienced securities salesman. Only those who desire per- manent connection need apply. Address Box 756-Y, Star Office First Mortgage Notes Are the type of investments that appeal to conservative investors. Banks Recommend Them Insurance Companies Prefer Them Courts Advise Them (the three most conservativ tions one can go to for Buy them and the thought ot worry can be dismissed from your mind. We have on hand a limited amount in denominations of §100 and up. Bearing. 7% Interest Chas. D. Sager Loan Department 924 14th St. N.W. FEDERAL-AMERICAN NATIONAL BANK RESOURCES $13.000.000 1315 F ST TO THE POLICYHOLDEhS OF THE PRUDENTIAL INSURANCE COMPANY OF AMERICA NOTICE is hereby the licyhnlders of THE PRUDENT!] INSURANCE COMPANY OF AMERICA will be held at the Home Office of said Com- any in the City of Newark, New Jessey, on Monday, the First day of December, 1924, at twelve o’clock noon, for the purpose of select- m‘ four persons to be voted for by the policy- holders® ‘Trustee as members of the Board of Directors at the annual slection of Directors of the Company to be hel on the Twelfth day of January, 1925. At such meeting every policyholder of the ‘corporation who is of the age of twenty-one years or upwards and whose policy has been in force for at least one year last past shall be entitled to cast one vote in person or by proxy. FDWARD D. DUFFIELD, Presides. We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street Uncertain —life is, only the most thoughtless man puts off the ordering of his affairs and the drawing of his WILL. §Our Trust Dept. is prepared to assist you in this all-important matter. Let us ar- range a corference at your convenience. National —110 Years Old Metropolitan Bank 15th St., Opposite U. S. Treasury Have You a Measuring Stick? HAT measuring stick do you apply in selecting an invest- ment for your funds? Is it safety of principal? There is no more forceful statement we can make regarding the safety of our Mortgages than that no client has ever suffered the loss of a single for over 55 years. Is it continuity of dollar in principal face value? Our First Mortgages are always worth one hundred cents on the dollar, every day —and any day. Or are you chiefly concerned in in- terest return? Our First Mortgages are now yielding 61%%—and more. And you receive the interest on the day it is due, without fail. Will these meet your requirements? Swartzell, Rheem & Hensey Co. 727 15th Street, N. W, . Woashington, D. C. 55 Years Without Loss to An Investor divided Into 4%, 4% and 5 per cent lots, priced to yleld from 4 to 4.35 per cent. Other issues included $2,- 400,000 Mississippl 4% per cént cou- FINANCIAL pon refunding bonds, priced to yield 4.25 per cent, and $2,259,000 Atlantic City 4% per cent old bonds at prices to yield 4 to 4.25 per cent. > Prompt Action First Mortgage Loans %owest Rates of Isterest and Commission Thomas J. Fisher & Company, Inc. 738 15th Btreet Money to Loan Becrired by firat deed of trust on real estute Prevailing interest and_commission Joseph I Weller 48 Wask T & Trunt ST 17 QU T Continental Trust Company Capital One Million Dollars 14th & H Streets H TN T T e a iven that & meeting of 1 el Thrift Par Excellence Buy One of Our 6% FIRST MORTGAGE NOTES —either by paying all cash or under our special payment plan. ~The interest rate is credited from the date of your purchase, so there is no loss of revenue by holding other forms of securi- ties or deposits at much lower rates until you have larger sums for investment. Absolutely Safeguarded Never a Loss to an Investor o il o537 sy ruTuTLT AT TS TaT S TuT AT TTiTeTa Consult at Once Our MORTGAGE INVESTMENT DEPARTMENT SHANNON - & LUCHS 713 and 715 14th St. N.W. Main 2345 T Liberal Interest Yield EQUITABLE Co-Operative Building Association Organized 1879 44th YEAR COMPLETED Asnets ... Right Now Set_aside part of your earnings in the Equitable. A method of saving that will accomplish most Subscription for the 87th 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 OUR Branch Offices offer you an unusually complete and convenient banking service. The cordial rela- tions betwe.en the Company and its customers are such that you will be glad to do your banking business at any of these offices. Central 2 7th and Massachusetts Avenue N.W. Northeast 8th and H Streets N.E. Southwest 436 7th Street S.W. Northwest 1140 15th Street N.W. (Security Storage Building) Every Banking Service AMERICAN SECURIT TRUST_COMPANY o ° AND 15th and Penna. Ave. Capital, Surplus and Undivided Profits Over $6,000,000.00. Mortgage Bond & Guaranty Corporation WASHINGTON, D. C. (Incorporated Under the Laws of Virginia) Authorized Capitalization 250,000 Shares 8% Cumulative Preferred Stock. par value $10.00 . 250,000 Skares Common Stock, e value §10.08 $2.500.000 (onguer— N early victory in the struggle for financial pros- perity is the reward of the man who makes his investments wisely. The Mortgage Bond and Guaranty Corporation deals exclusively in First Mortgages, secured by im- proved, income-producing real estate. It is recognized this is the safest field of investment known. The constant turnover of the capital, through the sale of guaranteed First Mortgage Certificates, assures a very attractive return to the investor. ‘The management comprises a group of bankers, real estate and business men of excellent character and high standing. They all enjoy unbroken records of success and their expert knowledge is especially adaptable to the profitable and conservative man- agement of this Company’s business. An Institution Is as Strong as Its Management e Haery A csident, ‘A, Kite, Inc., Builders and Real Estate Operatars eton P. Clark, Jr. "D ice Presidemt—-Archilect Director, Equitable Life Insurance Company. Hogh A. Thrift, Vice-President Secretary-Treasurer, Thrift Build- ing Company. W. J. Waller, Treaswrer ice-President, Federal American National Bank. Frank P. Morse, Secr Manager, Washing ';’Bnn:h. Redmond & Co., Investment Bankers. C. S. Taylor Burke President, Burke & Herbert, Bankers, Alexandria, Va. A portion of the stock of the Mort- gage Bond & Guaranty Corporation is now being offered at the same price paid by the officers and directors. ‘The cumulative preferred stock bears an immediate return of 89. The dividends are free from the normal Federal income tax and the stock is free from the D. C. and Virginia intangible tax. All dividends over and above the 8% paid on the pre- ferred go to the common sharcholders. FATATATATATATATLT CTaTaT TATATLTA ‘These securities may be purchased on an attractive partial payment plan. No interest charge on deferred pay- ments. Regular preferred dividends applicable to amount paid in. 1 Share 8% Cumulative Preferred....... 1 Share Common. . Descriptive Booklet Upon Request LTATATT 535 TETATLT $12. LTI, Frank J. Hughes e et Mer. Nation! Mortgage & Investment Corp. James H. Preston Vice-President and. Counsel, Calvert Bank, Baltimore, Md. Formerly Mayor of Baltimore. J.S.Gruver 3 President, Thrift Building Co. 'W. O. Peirson Vice-President, Union Trust Co. Baltimore, Md. George E. Walker %r':::f D Rional Mortgage t, National Tavestment Corporation: - ‘William D. West President, Rudolph & West, Hardware and Builders’ Supplies. Vice-Pres., Citizens Savings Baok. Clarence F. Donohoe hn F. Donohoe Sons, Real tate, Insurance & Investments- & HUGHES & COMPANY (ANCORPORATED) INVESTMENTS 1418 Eye Street. N.W. 853 Telephones Mnin{ Sg{;