Evening Star Newspaper, October 22, 1924, Page 27

FINANCIAL. BUVINGINPROVES INWEAT ARKET Cooler Weather Benefit to Wholesalers—Pork Loins Cheaper. Changed weather conditions have dmproved the appearance of the meat market. Beef was quoted at 15 this morning, a few top specials selling &t 16, but with only light demand. Veal is scarce and high, the supply being very limited. A price of 18 NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN. NEW YORK, October 22.—Specu- lative interest centered in the oil shares in today's curb market, and it was tis group that assumed leader- ship of the upward movement. With weekly crude production fig- ures disclosing a gradual but steady decline for some time past, and with consumption growing closer to out- put, the opinion prevailed that many of these issues were likely to seil substantially above present quota- tions. Professional operators were eager to seize anything favorable In the news for higher prices and they found this in the announcement after NEW YORK, October 22.—Follow- cents was quoted. There was a mod- ate sunply of lambs on hand today 25 cent The ket on pork loins is weak- er, prices ranging from to 30. Price of hams ranged from 20 to 23 and shoulders at 18. Lard is the highest of pork products, a price of 20 gents prevailing. The product is 8o dcarce that big orders are ac- cepted subject to conditions. Fruits and Vegetables. Today’s market report on fruits and wegetables, compiled by the Market News Service, Bureau of Agricultural Economics, says Apples—Supplies light, market steady. Barre land, Virginia and West A2t inches up, Deliclous €.00: some fair quality : Grimes, 5.00a5.50, few 6.00, some fair quality, 4.25a4.50. Boxes, Washing- ton, medium to large slzes extra fancy Delicio 4.2584.50, Winter 00a3.25, Spitzenburgs most- Bushels, Maryland, Virginia, varieties unclassified, 75a1.25. ge—Supplies derate; _de- light, market steady. ~New York, bulk per ton Domestic Round type, medium siz 500022000, few higher; Danish type, 25.0020.00. Grape Prices Lower. Grapes—Supplies heav. moderate, market slightly New York, 2-quart Climax baskets Concords, Delawares and Niagaras, 20a22; few 23; New York and Michi- gan, 12-quart Climax baskets Con- cords, On lght, market ste ©Ohio, 100-pound tles, United Stat mostly all demand Mary- Virginia, best mostly 4.50a5.50; liberal; 1y 3 variou Cab) mand demand weaker. New York and <acks Yellow varie- No. 1, large size, to medium sizes, s light; demand light, New York bushel baskets Bartletts and Seckels, 3.00a 8.25. Potatoes—Supplies liberal; demand Eood. market steady w York, 150- pound ites United States, . ; mostly 2.25 per sack. Michig set Rurals, United States, No. 1, 2.10a 2.2 . not United States, No. 1, 1 £ Sweet Potntoes Steady. Sweet potatoes—Supplies moderate; demand light, market steady. Home- grown, uncovered stave barrels s 5 pplies moderate, market steady Big Bosto! r quality, 7 demand York, lerate; demand iy. New York, Self-Blanching, In two-ghirds anching, 2.50a full crates the rough crates, Golden Self-I demana | Florida, | mostly light; steady Goldens, ket and wn moderate, half-bushel supplies market hamp- and firm Legrown ers, DIVIDEND RULING MAY BE VERY FAR REACHING By the Associated Pre ~ YORK, October 22.—Several corporations may be affected by the decision of h Jersey courts in the United tes Cast Iron Pipe pre- ferred dividend dustrial cor- pora nold « under the laws of New Je cumul prefer Ame American Tee Shipbuilding ff Company, Pressed Company, American Beet Compa American Linseed Company, International Nickel Com- pany evator Company, Sloss- Shettie Steel and Iron Company, end United »s Rubber Company. Ho No. arte v and having non- ed stocks outstand- ons Sugar EVERYMAN’S INVESTMENT! BY GEORGE T. HUGHE: TOREIGY BOND PROBLEM, Eighty-sixth Article. 1 am sometimes asked what 1 think about foreign bonds. Are they good for investment? Are they e Would you advise me to buy them? Now, no one answer can be given to all the people who ask these ques- tiops. For some investors foreign securitics are desirable; for others they, are not. As.L have repeatedly explained in this series, everything depends upon the -prospective investor's resources. Nojone is justified in putting all his funds 1nto foreign bonds or, for that matter, into any one class of security. If his capital is small he must be content with the comparatively low return which high-grade domestic bonds afford. If his resour little larger, he may prop out for larger returns however, foreign bonds cannot constdered as a whole. They vary in merit, just as do domestic bonds. Somre are high-grade and conserva- tive investments: some are specula- tive in the extreme. There are finan- clally strong governments and there gre financially weak governments. The trouble is that the average be ing is an official list of bonds and stocks traded in on the New York Curb Market today: Sates 1n BoNDS thousands. 0D 6 Alum Am Gas & El 6 new 3% Am Pow & Lt 6s old 93 2 Am Pow & Lt 6s H Am Sum Tob 7% Am Rolling Mill 2 Anaconda 6s.. Anglo-Am 0l 7igs Astoc 8im Hdw 834s Beth Steel 7s '35.:. 8 Citles Service 7s C Cities Bervice Ta .. Cons Gas Bal 8}4s D Deere & Co 73gs... 3 Dunlop Tire & R s Federal Sugar 6s Fisher Boa. 2 5 Gen Aspha z H R & Co A 64s wi inter ‘Match 613, Kennecott (op Lehigh Power 6x Pure Oil Co 63s.. Sloss-Sheff 8y Southern C: FOREIGN BONDS. In M Pk Fiola 04 Rep of Poland s .. 73 Solvay & Co 6 '34 B 101% 1 Swiss Gove 08 ..... 100% Sales STANDARD OIL in_units. 3300 Anglo Am Ol . 280 Buckese P L 1003, ISSUES. @l PL ; 700 Tmp 01l of Can 150 Ind P L ... 3300 Tutern et 80 ) 500 Ho South Penn 01l Southern P L 13300 S O Ind . 900 8 0 Kansas 8 0 Kentue 8 0 Nebr 80 N 0 Ohio S W Penn Swan & F Vacaum 0il NDENT OIL Atk Nat Gas ...... 2 Roston Wxo O] ... Gulf Ol of P Iudson Oil Lago Pet ...... ) Latin Amer 01 .. .1 Livingston Pet . Washingcon Stock Exchange SALES. Capital Traction 7x—700 at 081y Potomae Electric con £1.000 at 033 Mergenthaler L National M 2. 7200 at 9, 03, 2 $2,000 at 981 AFTER CALL. Metropolitan Rwy 000 at 100%. Capital Traction fs—$1,000 at 98%, $1,000 $1.000 at O8Y,. Mergenthaler Linotype—3 at 164%. Capital Traction—10 at 92%. Mones—Cill loans, 5 and 6 per cent, BONDS. Bid and Asked Prices. PUBLIC UTILITY, American Tel. & Teleg. 4s. American Tel, & Teleg. 4155, Tel. & Tel. ctl. tr. b conr. 6s... S Asked, Capital City & Suburhan Georgetown Metro Pot Potomac Elec. Patomac Elec Potomac Elec. 6s 191 Pot. Elec. Pow. £. m. & T mac Jt. Land Stock Bl Alex. & Mt. Alex. & Mt Balt. & Annap. rington Gas O ington Wash. Rtw Wash. It & Elec. 4% p & Elec. gen. 68 MISCELLANEOUS. D. C. Paper Mfg. Riggs Realty os (I Riges Realty 3 Southern Blag. 6 STOCKS. PUBLIC UTILITY. Wash. : 3 Terminal Taxi com.. American investor divides all securi- tles into two classes, American and others. The matter is not so simple. In a general way the credit of a for- eign borrower corresponds to the re- turn which its obligations give in the open market. This is not an in- fallible rule, but you will not go far wrong if you follow it. For example, the bonds of the Dominion of Can- &da, of the United Kingdom, of Swits- erland and of Sweden sell on a lower yield basis than those of other for- elgn governments, and these count- tries rank among the strongest fiLan clally. After them come the natlons of northern rope, which were neu- tral in the Great War, and one or two of the more prosperous South American countries. Is it not evident, then, that foreign bonds of this class are on a different plane from those offered by the new- 1y organized mid?European countries, as well as thore who suffered se- werely In the war? Remember, I am mot saying that these other bonds are not worthy of investment consid- eration. I am only pointing out that there are degrees of strength in for- elgn securities as in all other kinds of investments. In other words, in this field, as elsewhere, you get what you pay for. If you insist uvon a high return on your investment, you must take the risk that goes with it, and that is true whether the invest- ment is domestic or forelgn. (Copyright, 1924, by Consolidated Préss Asso- ciation.) —_— A merchant in Hull, England, reports & large sale of ivory toothpicks. NATIONAL BANK. National Capital Columbia Commercial District .. Farmers & Me TRUST COMPANY. American Security & Trust. Continental Trust. ' Bank. SAVINGS BANK. Commerce & Savin, East Washington Sec, Savings & Com.. Seventh Btreet Saving: . 8. Bav sbington Sechasics.. FIRE INSURANCE, Fire i Amerion Fire losurance. TITLE INI Title . ol Rrtate Titie! MISCELLANEOUS, Merchants’ Transfer & Btorage. ntoaler Linotype. N z tch Market com. 8-‘.‘ x?:un ‘Market pfd. £ i Washington Market - TR aividend. foon i B the close of business Tuesday that wholesale gasoline prices had been advanced fractionally for the first time since last Spring. Standard Oils were deilnitely strong, the Indlana stock gaining 1% points when it sold at 38. Advances of a half point. to two points occurred in Imperial of Cana- da, Standard of New York, Vacuum and Kentucky. Bxpectations of an early advance in Wyoming crude prices was reflected in the heavy de- mand for such stocks as Mutual, Mountain Producers and Salt Creek issues. The outstanding feature among specialties was the persistent demand for Duz, which carried the price well above the previous close. 3 co. Mount Prod. 2 Mutual “0il vot cfs. Ne itord Oil.. & ver O Pennock Oil. Pennock Ol new. Red Baok Ofl.. G111 | 2 Sunstar 0il Venezuelan T West States 011 Wilcox Oll & G Woodley Det. Acme C Am Cyou Am Gas & 2 Am Gas & Am Am Am Am Sup Pow Al Sup Fow I For Pow wi .. 5 Bklyn Bur Add Mac Bur Add 3 Centrif Pipe . Chatterton & Childs Co new... Childs Co pfd . Col G E Commonw, Comwith Continental Tob Ine Cuba Co Con G ¢ DL & W Coal. Dubilier C & Kadio 2 Durant Mot ... I R oow w Ginter Co ... Huzeltine Corp 2 Hepden Chem : Hud & Mann BBt Tuperial Tobac ... Cont Rubber e Ocenn Kud Co 184 Jones Kudio it Solether.. 1 Coal [ 8115 2% 22 % 41y ale West Util Nat Leather . Nut_Tea Co | Tel ( M Kudio Corp Radio Corp pfd Reo Motors E Koserib'm Gr Cor 2 Kova Ra Cor tr efs Sil Gel Pr nw v.t nger Mfg... 0 € & 1 new andard Motor. Standard T'ub Co Swife Intl Tenn Elec A Power.. andy Uni Shoe Mach Cor U S Lt & Heat.... Utah ldaho Sugar. Ward Buk tor A .. Ward Bak Cor B8 [ Waie Radio Corp. . White Ro M § new Yel Taxi Corp N Y MINING. Canario Copper stock Tunnel son_Gold Diamond Blk 'Butte First Thought g m Goldfield Deep Min Harmill Div ... HUL Top Nevada.. Howe Sound ... Independence Lead. 28, 15 National New Cornelia New Jersey Nipissing Ohio_ Copper Ply Lead Minex 2 Premier Gold Min. Red Warrior ... Rocks Mt Sm & Re Silverdale 3 8o Am Gold & P . fono Belmont Tonopah Exten . “otopub Min Y 00D s et o ed Veide Ext.. S Continental Unity Gold Wenden Copper West Eng Consol.. West End Bxt B E FER STEEL BUHN;})ROPS. PITTSBURGH, October 22 (Speclal) —Buying of geenral lines of steel prod- nets has fallen off in the last week. In some finished steel lines there is fully as heavy demand as a fortnight ago, Merchant Pipe and Wire Products be- ing in this class, but in sheets, ofl, country goods and heavy rolled prod- ucts there has been a decline in orders PO MOON MOTOR EARNINGS. NEW YORK, October 22.—The Moon Motor Car Company to date has earn- ed the annual dividend of $3 a share, according to an official of the com- pany who estimated 1924 earnings would be slightly better than §4 a share. This would compare with $4.65 a share in 1923 and $5.01 a share in 1922. The company has no bank loans. A decision on the pend- ing merger with Gardner Motors Is expected in a few days. —r = SOLE LEATHER HIGHER. PHILADELPHIA, October 22 (Spe- cial).—The sole leather market here is firmer and advancing. Prices are 4 cents a pound higher than a month ago and demand is fully up to supply for good grades. Steel backs are quoted at 44 to 46 cents. CAR FARES RAISED. BOSTON, October 22 (Special).—In an effort to compensate the Boston Elevated Railway Company for the recent increase in costs entailed by a wage advance to employes, all 5-cent fares will be abolished November 1 and 6-cent fares substituted. Consult Your Banker. If you are inexperienced in Inve ing money, it is very unwise to plung into unfamillar ventures. You will profit by consulting some one who Is famillar with such affairs. Consult your banker as to the requirements to bank investmen what ' are fe for their funds are very certain to be safe for yours It is always well, moreover, to seek his advice and counsel. NEW YORK EGG PRICES. . NEW YORK, October 22.—Eggs irregular; receipts, 12,913 cases; nearby and nearby Western hennery Wwhites, firsts to average, extras, 60a 80; Pacific Coast whites, extras, 76a 80; do. firsts refrigerator extra firsts, 39%a40; do. firsts, 38a39. *| for human FILL WORLD NEEDS) SALES ANTICIPATED United States Buying Back Many Products Which Originated Here. Specinl Dispatch to The Star. NEW YORK, October 22.—Celebra- tion of the 432nd anniversary of the discovery of America reminds the Trade Record of the National City Bank® of the contributions which the distinctively “American” food plants supply to meet the constantly in- creasing food demands of the popula- tion of the globe. These distinctively Amerlcan food plants have been adopted by all parts of the world. Potato World Wide. Take the potato for example, of which man made the acquaintance in his early exploration of South and Central America: it has been adopted by all sections of the temperate zone world, Europe as a whole, North and South Africa, northerri Asla, especially Siberfa, and Japan, Australla and New d. The figures of our Agricul- tural Department show that of the nearly 6,000,000.000 bushels grown in the world in the pre-ward vear 1912 over 4,000.000,000 were produced in Burope, nearly 2.000,000,000 in Ger- many_alone, while the total produc- tion {n the Americas, its birthplace, was in that year less than 1,000.000,- 000 bushels, that of the United States less than 500,000,000 bushels. The sweet potato, also a native of tropical America, 18 now grown in many parts of the world and especially the Pa- clfic Islands and the, eastern frontage of Asi Coin Spreads All Over World. Corn, another distinctively Amer- ican product, has made friends in all parts of the world, especlally as a food for meat animals, and while the United States still grows more than one-half of the world annual crop of four and one-half billion bushels, Europe’s production in the five years proceding the World War averaged about 500,000,000 bushels per annum, Asia 100,000,000, North and South Africa, 75,000,000 Argentina ranks second to the United State as a corn grower, her crop averaging about ,000,000 “bushels a year against the al 3.000,000,000 of the United States. Rumania is apparently the biggest corn producer of rope, its outturn, according to official figures, In the post-war period averaging about 100,000,000 bushels a year, the chief food ue of the corn being its power to produce meat food. Tomato Wins Friends. The tomato, also an American plant. has made friends in other parts of the world and is produced in great quantities especi in southern Europe, though no figures on relative production or value are avallable Other food products distinctively of American origin_now widely dis- tributed the world over include the pineapnle, the c va, from which the tapioca of commerce Is produced, peanuts and the cacao bean utilized in the production of chocolate, clearly of American origin but now largely produced in other tropical area g pecially the west coast of Africa The cocoanut as now utilized for food purpo: is also believed to be Ameri origin, as the Bur Plant Industry of the Departme Agriculture In a communication to the Trade Record on this subject savs that the cocoanut belongs to tinet family of palms represented by bout 200 species in tropical Amer- ica and only two specles in Africa and these very similar to American types. Plants Also Spreéad. Paesing from food products to other American plants now utilized for industrial purposes, the most im- portant which have been adopted in other parts of the world are the india rubber tree and the tobacco plant, hoth of which are apparently of American origin. 1an made his acquaintance in Amer- ica, 1s now grown largely in Europe, indfa, China, Japan, the Dutch East Indles and North and South Africa, though nearly one-half of the world's crop of 2,000,000,000 pounds per annum is still grown in the United States with a farm value of nearly a half millfon dollars per annum. Probably the most “traveled” American plant is the indla rubber tree, originating in South America, especially the Amazon Valley, but adopted In recent years by the tropi- cal countries on the opposite side of the globe, notably India, Ceylon, the Malayan Peninsula and the Dutch st Indies, which now with their rubber plantations turn out far more of rubber than the entire American area from which they were stocked. Buy Back “American” Products. Curiously, adds the Trade Record, our imports of these products of distinctively “American” origin now amount to over $250,000.000 a vear value, coming in very large share from the other continents, notably india rubber from the opposite side of the globe, cacao largely from West Africa, tobacco from southern Eu- rope and the Dutch East Indles, and ineapples largely from our Hawailan lands and in lesser quantities from other parts of the world. LOWER RATES SOUGHT ON GAS AND ELECTRICITY Spectal Dispateh to The Star. BALTIMORE, October 22.—People's Counsel William M. Maloy has filed a petition with the Public Service Commission asking that the rates and charges now in effect for gas and electricity be reduced on the grounds that at least '$16,000,000 of the pres- ent capitalization of the Consolidated Gas and Electric Company is “water,” for which its owners pald little or nothing. The stock, worth “less than noth- ing” in 1912, has been built up in val- ue until it is selling for 135 today, he said. A rate decrease is possible because of the cheapness with which the com- pany is buying coke-oven gas from Sparrows Point and hydro-electric current from the Pennsylvania Watef and Power Company, he said. TREND OF FARM WAGES HIGHER IN MARYLAND The average wages in Maryland for labor hired by the month were re- portsd by farmers to the United States Department of Agriculture on October 1 at $33.25 with board and $49.90 without board; by the day, in- cluding pieceworkers, with board, $2.05, and without board, $2.75. These are slightly higher wage fig- ures than were reported on July 1, and are about 2 per cent above what was being paid in October, 1923, according to farmers’ reports. PRSI WOULD REDUCE STOCK. NEW YORK, October 22.—Readjust- ment of the American Hide and Leather Company’s caplital structure. under a plan calling for a substan- tial reduction In the amount of out- standing preferred stock and lquida- tion of approxXimately 140 per cent in back dividends on this issue, bas teen authorized by the directors Stockholders will be asked to vote on the proposal elrl.y in December. Tobacco, of which | Manufacturers Expect Rush- ing Business Between Now and Next April. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, October 22.—Manufac- turers of radio receiving sets expect to sell at least $50,000,000 worth of equip- ment between now and April 1, 1925. One company, holding the patents gov- erning the neutrodyne process, antici- pates reallzing more than $1,065,000 in royalties on the gross sales of the 14 manufacturers licensed to use the tormulae. The figures givéd an idea of the tre- mendous growth of demand for radio equipment in the United States. There are at present about 3,000,000 hcmes equipped with receiving sets. Of this number more than two-thirds are pro- vided with crystal sets. Manufacturers, however, estimate that in the next few vears 10,000,000 homes will be equipped with sets of the more expensive type. At the most conservative estimate, that will mean jan investment by the public of at least $500,000,000. BIg Christmas Sales Soon. i The radlo sales for the next two months probably will be at a heavy raté because of the stimulus of Christmas buying, but January, February and March normally are the heaviest months of the year in this industry. The claim that within a year or 50 10,000,000 homes will be equip- ped with receiving sets does not seem unduly optimistic when it Is realized that 9,000.000 homes in America have phonographs and 12,800,000 families have automobiles. The amount of experimental work which has been done In the radio fleld in the last few days has not been exceeded in any other industry. Those experiments are still going on, but engineers who have been prom- inent in the work belleve that from now on the greatest developments will be In broadcasting rather than in re- ceiving apparatus. Only Minor Changes Likely. Improvements undoubtedly will be made, they say, but there is nothing in sight 50 far as is generally known which would produce a basic change in receiving cquipment. In 12 years of int ive experimentation only four basic principles of radio recep- tion have been developed. In 1911 the “radio frequency” amplification sys- tem was worked out by German scientists. Two years later, Maj. E. H. Armstrong developed the “regenera- tive” system. He followed up this work by perfecting the ‘“super Heterodyne” system in 1918, working inder the stimulus of the great war and with war purposes in view, since that time broadcasting, as now under- stood, had not been developed. 1922 Prof. Louis A. Hazeltine worked out the neutrodyne tem. Quickly in Commercial Use, Among inventors, Prof. Hazeltine is regarded as having fallen into a prodigeous piece of luck. This was not because his invention was made fortuitously or by chance, but be- cause, when he had worked it out ad a model made, it proved to go into immediate produc- At least one other invention made about the same time and per- haps of equal basic importance is known to be in the hands of one of the big radio manufacturers whose engineers are still engaged in ironing out some of the kinks which have kept it from' commercial production, although the general principle has been established and accepted. Radlo men feel that a big step will be taken in the progress of radio broadcasting and reception with the allocation of new wave lengths for ship communication. “When Buying” Our 7% First Mortgage Notes —your Investment Is secured on carefully selected improved properties and placed oa + sound, conservative valuatios. Notes tow svailable o ts of $100 ap. Apply Loan Dept. Mr. O'Dennell, Mgr Chas. D. Sager Realtor 924 14th St. N.W. 38 Mats 37 38 Reasonable Rents for Suites or Single Rooms High Ceilings—Ample Light Day and Night Elevator Service Modernized Federal-American National Bank Bldg. 1317 F Street N.W. Apply Room 508 Phone M. 256—M. 700 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Compeny, Inc. Prompt Actier Continental Trust Company Capital One Million Dollars l4th & H Streets greater safety greater service greater business We are grateful to the public for recognizing and appreciating that the ele- ments of “safety” and “service” have been the foundation of our Mort- gage Investments and have accordingly rewarded us with “greater” and ever-in- creasing patronage. We would like to explain our service policy to you and show how your money can be absolutely safeguarded and still earn 635%. : Mortgage Investment Dcp’-nmem 713 and 715 14th St. N.W. Main 23465 In| FEDERAL-AMERICAN NATIONAL BANK RESOURCES $13.000.000 1315 F ST Jonn Peort Puseen MONEY TO LOAN Improved Property (s D. O. and M4 ANY ANOUNI-TNREL £IVE sad 72N Lowest Rates. BUILDING PROJECTS FINANOCED. FRED T. NESBIT e Iavestment Bldg. Maln 5%% Money Our business (s the making of REAL ESTATE LOANS. WE always have an adequate supply of_money on bhand, We make oan offered if the security is satis: E. Quincy Smith, Inc. 909 15th Street N.W. Washington, D. C. GUARANTEED Investments We have GUARANTEED FIRST MORTGAGE NOTES _paying as high as SIX AND A HALF PER CENT. No investment is safer, nor does any security include so many solid advantages. Your money is secured by the same income-producing property which secures our original invest- ment, with the added feature of our guarantee to you of prompt pay- ment of both principal and interest. We relieve you of all details. In- quiries invited. Real Estate Mortgage & Guaranty Corp. Resources Over $1,500,000 L. E. BREUNINGER, Pres. 26 Jackson Place AEPORT OF THE CONDITION Of the NORTHWEST SAVINGS BANK, . At Washington, in the District of Columbla. at the close of business on October 10, 1924, RESOURCES. 1. aLoans and discounts, cluding rediscounts, ances of other bank foreign bills of exchange dratts sold with indorsement 2. Overdrafts, secured, $751.88 unsecured, $24.87 5. Other bonds. stocks, securities, etc. ... 3 6. Bauking house, ' $7: 3 niture and fixtures, ' $17.- 669.65 ... 3 10. Cash in vault amount ‘due from national banks . Total of item 10...$125,008.97 14. b Miscellaneous cash items. Total 128,005.97 705.17 $1,018,920.33 LIABILITIES. 17. Capital stock paid in. 18'Surplus fund 19. Undivided rofits . .$16,540.04 a Reserved for in est and taxes ac- crued $100,000.00 80,000.00 { 12,629.30 24168 2,101.10 “Total 25 Demand’ depor bank deposit\) subject to re- serve (depysits payable within 30 dais): . Individual deposfts subject to check . Total of demind depos k_deposits (other than b subject to riserve. item 26 . 339 ts ). I or subject to 80 days’ or more notice, and postal savings) - . Certificates of depqsit (other than for money bjrrowed). . Other time deposity .... Total of time de- posits sublect th item| Total ... District of Columb 3 C. BUR! o _soler\nly swear that the above statement s true to the best of my knowledge and _bellef. GREGG C. BURNS. Cushler. Subscribed and sworn’ to before me this 16th day of October, 1924. (Seal.) HUGH W. BARR, Notary Pubiic. Correct—Attest: FRANCIS M. SAVAGE, IS M, LL, o] HOME FURNITURE L REAL ESTATE From $50 to $300 In Maryland only. Legal in- terest rates, Mt. Rainier Loan Co. 3401 Rhode Island Ave, Mt, Rainior, Md. Free Course in Banking to All People How can you get it? It is yours for the asking. We have for free distribution a “BANKING FACTS,” booklet, giving you full information. Call in person at this bank and get your copy. OANS| ~ Money to Loan Secured by first deed of trust on real state. Prevailiog. fnterest and_commission. Joseph I. Weller 428 Wesk. :-,‘,‘f:z‘ } Illinois Power & Light Corporation 7% Debenture Bonds, 1953 Price 101 and inkerest to yield 6.929, With a gross business of about $28,000,000 in 1923, ths Company earned the interest om its mort- gage bonds over 23 times, and the balance after such interest was about 7% times the inter- est on these Debenture Bonds. A semi-annual Sinking Fund is estimated to retire more than 930, of this entine business of Debenture Bonds at or before maturity. For further information for circular W-498. send No obligation on your part ex- cept to read it. THE DEPARTMENTAL BANK Your Bank 1714 Pennsylvania Ave. N.W. Under United States Government Supervision E. H. Rollins' & Sons Founded 1876 416 Woodward Bldg., Washington Boston, New York, Philadelphia, Chicago, Denver, San Francisco Our Business Home Reflects the quiet, dependable, unobtrusive service in- variably clients of accorded BOSS & PHELPS ¢ REALTORS 1417 K Street Main 9300 “The Home of Homes™ JOHN JOY EDSON, Organized 1879 Ansets Preaident N\ FRANK P. REESIDE, 44th YEAR COMPLI Surplus Subscriptions for the 87th Issue of Stock Being Received Systematic Saving Accomplishes Much —Adopt the systematic saving Shares $2.50 Per Month 57th Year plan of the Equitable and set aside a part of your earnings regularly. You will be delighted with the results. R 915 F St. & Surplus, $2,000,000. Who Knows —but that YOU may be the next mark for the busy burglar? ] Why run the risk of being relieved of small valuables, negotiable papers amd cher- ished keepsakes when it costs so little to give them the protection of our modern SAFE DEPOSIT VAULT? 1 Box rentals are very nominal. Oldest Savings Depository in Washington Cor. 15th and New Yeork Ave. Like Buying an Automobile- Yet Strikingly Different OU buy your automobile on a de- ferred payment basis. 90% of all those who get a car. They like the convenience of it, even though they have ample funds to war- rant their paying cash for a machine. Hundreds of investors are applying the deferred payment idea to the pur- Chase of 7% Smith Bonds. Our Investment Savings Plan—simple, convenient, practical—fits the small investor, as well as the large one.. But there is a striking difference between buy- So do 7% First Mortgage Bonds are sold in $100, $500 and $1,000 denominations outright or mnder our Investment Savings Plan. ing an automobile and buying a bond. When you buy a bond under our In- vestment Savings Plan you are invest- ing; every payment starts immediately to yield an income—your money earns full bond ' interest for YOU. $4,800 irivested in safe- guarded First Mortgage Bonds at the rate of $10 a month will grow to more than $22,000 and give you an independent income of nearly $1,500 a year. Learn more about this profitable plan. Tele- phone Main 6464 or mail the coupon now. NO LOSS TO ANY INVESTOR IN 51 YEARS The F. H. Smith Co. Founded 1873 FIRST MORTGAGE BONDS e e e e e i e i e S e ] THE ¥. X. SMITEK OOMPANY, s i Street. ¢ Ploase give your SMITH BUILDING 815 FIFTEENTH STREET —_—