Evening Star Newspaper, December 27, 1924, Page 17

FINANCIAL, JD FOR BEET RY POOR TODAY lgamb and Pork Higher at " Wholesale—Butter and Eggs Unchanged. “There is no market,” was the com- ment of the condition of the meat market this morning. “There is scarcely any beef moving. and there is a tendency at prices for top beef.” T.amb is scarce and higher, 30 cents being the price quoted this morning The veal was reported as being dragey Slightly higher prices for pork were reported. Loins and hams were quoted at 20 and 22 and shoulders at 14 and Today's Wholesale Prices. Butter—Fa tub, 47a30; prints 54 Eggs 58: averag Cheese old sh; ney, esh, selected, candled, 57a receipts, 55 cases. Long _horn, 23; mild cream, arp, 35 per pound. alive—Roosters, 16 per ach chicken fow ats, capons, Live stoc! m, thin, 6a7; , 13; live hogs, 11a12. Meats—Beef, 12al5; lamb, 27. Frult and Vegetable Review. Today's market report of fruitsand vegetables, compiled by the market news service, Bureau of Agricultural ¥iconomics, says: Sales at 8 a.m Supplies moderate; demand . market steady: barrels, Mary- Virginia Virginia. inches up, lled Spring : Toosters k lambs, 18, and 1edium to large siz pitzenburg: bushel Washington, extra fanc Delicious, 4.2 sales reported. Cabbage —Supplies light, market steady: per ton, Danish type, South Carolina, bar . fair quality, 1 hampers, liberal: demand New York, bulk, | 27.00a230.00; es, pointed 5; Florida, inted type, liberal: demand | higher | BY WILLIAM F. HEFFERNAN. NEW YORK, December 27.—A veri- table flood of buying orders came into the curb market today. The grn- eral price average was carried into a new high for the year and practi- jcally all stocks shared in the improve- ment. Spectacular advances took place In public utilities. Natlonal Power and Light rose sensationally for a gain of 32 points, when it sold at 230, The talk in some quarters was that ‘x split up was being considered, but nothing definite could be ascertained. The report of Commonwealth Power showin rnings of more than $20 a share, caused another heavy buying t in that stock. Lehigh Pow- - at l!.x compared with the previous ose of 1001z, but profit taking in the st half hour offset a good part of the carly gain | NEW YORK, Decemb | lowing is an official list of stocks traded in on the Market today BONDS High, &2 91 —¥ol- New York Close. Packers 8s.. P'ackers &8 Sumat Anglo Am_0il AG & WL Frait & Tue omrd Sw Sta B Co Con Gax Balt #s A. Cubag Tel 7 2 Cudaby 3igs : Detro.t Clty Gas 6s. 3 Detroit Edison 68, Dot Edis & Dot Edis Dunlop T D&RGW ber Body_8s Robt 75 1085 K83, ¥ MeN & Lib Manitobs Power Nat Leath New Or T North Sts F i Nth St P 3 5 Pure 01 Co_6i3%.... Shawsbo lery—Supplies ket steady: ; New York, California condition, Lettuce Supplies Light. Lettuce—Supplies moderat limited, market steady; bushel hampers Big Bos a1.75 lifornia crates lecberg type. | 3 3.7 | Onions—Suppli oderate; demand | light, market firm: New York and Ohio 100-pound sacks Yellows, United | States No. 1, medium to large size, 3.00a3 Potatoes — Supplies moderate; de- mand moderate, market slightly stronger; Michigan Russet Rurals, United States most per sack; N -pound sacks Round nited States No. 1, mostly sales, 2.00 per Tomatoe: mand_ light, ontype, Whites, 1. . few s moderate; de- | market fairly steady; Ohio hothouse 10-pound baskets, me- dium sizes, 3.5024.00; s , 2,504 3.00. Florida sixes, ripes and wrap- ped, choice count, best, mostly 6.00; fair quality, 3.00a5.00. Cauliflower—Supplies light; demand moderate, market slightly stronger; California crates best, 3.25a3.50; some, fair quality, 2.502 Strawberry Market Weak. Strawberries—Supplies light; mand slow, market weak; Florida pony refrigerators, 60a65 per quart.| Stringbeans—sapplies increasing: nand light, market weak; Florida -bushel hampers, best, 5.00a6.00; some ordinary quality low at 3.50. Peas—Supplies light; demand light, | market about steady: California 45- pound crates, $.00a8.50; Florida %- Lushel hampers, best, 4.00; poorer, 1.503.00. Peppers, egg plant, squash—Sup- plies very light; too few sales report- «d to quote. MOTION PICTURE FIRM | PLANS NEW FINANCING By the Associated Press. NEW YORK, December 27.—An- other large motion picture enterprise will return to Wall Street for new financing next week, when Universal | Pictures will arket $3,000,000 of its | preferred sto Public offering of the shares will be made through a hanking group headed by Dillon, Read & Co., under a plan which will give purchasers an option to buy the com- pany’s common stock over a period of Vears. Other theatrical enterprises which Wall Street has flnanced in recent vears include the Famous Players- | Lasky Corporation, Metro-Goldwyn | Pictures and the Shubert chain of theaters. | i CHICAGO GRAIN PRICES. | i CHICAGO, December 27.—New high | price records for 1924 were reached | today by all deliveries of wheat, corn, | oats’ and rye. Offerings here, espe- | cially of wheat, were soon absorbed, | desplte the fact that European mar- | kels appeared unresponsive to ad-| vances yesterday on this side of the | Atlantic. The new buying, which was only of fair volume in the wheat pit, scemed to be based altogether on previously known conditions as to chances of future shortage in sup- plies. Wheat opening prices, which ranged from 1% cent decline to % cent advance, with May, 1.80% to 1.1, and July, 1.63% to 1581, were followed by a moderate general setback and then by a rise all around to about 1 cent above yesterday's finish. Corn, oats and rye moved up A8 a result of sympathy with wheat. There was no unusual amount of buying. After opening unchanged to 1% off, May, 1.31% to 1311, corn sagged somewhat, and then scored gains which averaged 1 cent. . Oats started unchanged to % higher, May, 65% o 65%. Later, the advance became general and more pronounced. Provisions went higher with grain. o CAR LOADINGS GAIN. BALTIMORE, December (Spe- cial).—Frelght car loadings of the Seaboard Air Line Railroad Co. show- ed an increase of 9 per cent during the third week in December, as com- pared with the corresponding period of last year. The total for the period this year was 41,233 cars, and was 37,516 cars In the same period 1923. ———— EXTRA TIRE DIVIDEND. AKRON, Ohfe, Decomber 27.—A 6 per cent extra dividend on common stock has been declared by the Gen- eral Tire and Rubber Co., William E. O'Nell, president and general manager, announced today. Sales for 1924 were’ $13,152,000, an increase of 50 per cent over 1923, while profits increased 25 per cent, to $1,500,000, equal, after pre- ferred dividends, to about $37.50 a share on common stock. . de- 6 Vacyam Oil Ts Webster Mills FORE City of Bogota & wi Finnish ¢ & Co 65 34 B 1007, ANDARD O1L INSU 2200 Aoglo-Am Oil.. 50 Rorne Serymser keye Pipe Line eka Pipe Line na Signal 011 umbie 01l & R... llinoix Pipe Line.. Imp 01l of Can Pipe Li ot o Ltd A Pet.. Transit x N Y Transit. : Northern Pipe Line Ohlo 0il Prairiec 0i & ¢ rie 0 & 18% o &: r Refining. h Pean il Southern Pipe L! Bouth West Pa P L S O Indiana 1600 Vacuum Ol Sales INDEPENDENT OIL STOCKS. in hundreds. 7 Ark Nat Gas . 1 Glilitana o1’ ¥ €¢ 10 Glen Rock OfL ... 8 Gulf 0l of Pa ... bonds and | THE EVENING STAR, WASHINGTON, NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office A 25c a barrel increase in Penn- sylvania crude ofl prices caused an ad- vance of six points in South Penn Oll, but the general response of the oll shares was divappointing, considering the. tmprovement elsewhere. The heavy demand for Yellow Taxi was set down to covering by an over- extended short interest of long stand- ing. At 23 it was selling three points higher on the day. Goodyear Tire common crossed the 27 level, while motor shares generally were strong. Buying of radio stocks was quite as pronounced as at any other time, with special strength in Rova, Ware, Hazeltine and Freed Eisemann. The coppers continued to respond to the mprovement in the market for the copper metal. The high taking in was heavy 2 rise. prices attracted profit- the final trading, and this in view of the extent of — et 4 61y .01 [ Ky 414 | 321a & o Penuock 0il Rted Jank Ol Roy Canad 0 & I Salt Ck Cons 5 Venezuel Weat S ion Central OIl 2 Woodley Pet INDUSTRIALS. Adironda Adiron Tw Am Am L & Tract ... Am Pw & Lt new. Am Superpower A 5 Am Superpower B oreigu Pw wi . Pw & L pf Atlantic ¥ruit Borden Ce ... Briggs Mg wi | B Tob "con Power.. w Cent Teresa ...... . Centrifugal Pipe Co 2 Chatterton & Noo.. 3 Childs Co new ... Common Pow Cor 6 Cont Rak B ... s Balt new i1y 1, 2% & Radio 877y Dunhill Intl Ine .. 3014 3 Durant Mot Duz Co & East Penn R G W new pt 3 Duplex Cond v t o 9 Doehler Die Ca o Dubilier ¢ 2 Intl Mat Tntl Concr Ind Co Inter-Ocean R Jones Radio Lehigh Tower Tehigh Val Cor Lehigh Val €1 Libhy MeX & 2 Liberty Radio Middle West Uril Nat Distil Provte,® Nat Pow & 1t Radio Corp Repetti Candy Reo Motor Rova Rad Co te ofs 0 C &1 5 Swift” Int Swift & Co nn Elec Power ermiodyne Rad wi 17% 9 Thompson Kad v ¢ ct Tnit = MINING Canario Copper. . Harmill 9 Hecla Mine Howe Sound ... Tndep Tead ... ib Cons ¥ Copper’ Cor LoneStar ew Cornelia New Jerses Nipissing Ohlo Cop ... . Parm Pore Min Lid . Pismouth Lead Min . Premier Gold Min Tono Belmont Tonopah Fxten: United Verds Ext 6 Walker Mining . 49 Wenden Copper Zine POY I8 P ° 28, L a man thinks he's worked,” declares the Urich Herald, “just because it takes him all day to do a three-hour job. “Many over- Wall Street 1925 QOutlook Held Brightest Since 1919 BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, December 27.—The year is ending in Wall Street with a more optimistic feeling than at any similar season since 1919. Then the financial and mercantile markets were getting ready for the great boom of 1919 and were extraordinarily buoy- ant. At the close of December, 1919, the first big check had occurred. At the close of December, 1920, panic was in the air, and at the close of Decem- ber, 1921, while there had been some faint signs of improvement, the feel- Ing was still very much depressed. Then, in the succeeding years, includ- ing last year. the final 10 days were a period of uncertain fluctuations, with selling to establish losses for tax pur- poses an unsettling factor. No Danger of Overinfiation. Thus the present market more close- resembles that of the early days ollowing the war than any which has occurred since. However, there is no good reason to look forward to a repetition of what happenéd in the highly inflationary era of five years ago. To begin with, business men learned their lesson at that time, and would not be likely to load up again with raw materials and goods in a runaway market. Secondly, banking authorities, confronted with a specu- latlon at the stage of extreme ex- travagance, would be quite unlikely to wait as long as they did in the Summer and Autumn of 1919 before applying the brakes. The rise in the call money rate to 5 per cent at one time, with 415 per cent as the renewal on standing loans, represents a substantial hardening in the money market. It reflects the im- mense inctease in the Wall Street de- mand for credit as the result of the rise in prices since the first week in November and the huge transactions. This, along with the evidence that the banks have begun to take advantage more freely of the rediscount privi- leges at the Federal Reserve institu- tions shows that the speculative move- ment on the stock exchange has begun to tell upon money conditions. It has not reached the stage where it involves an actual strain, but as compared with the long interval of superabundant money supplies for the last year or more, it does denote a good deal of change. Investment Market Slows Down. The investment market continues to appraise this change not only from the viewpoint of the enlarged specu- lative requirements, but with an eye toward a liveller demand for money in trade channels. The snap which characterized the investment move- ment during the Summer and early Autumn has been lost. There has been no notable yielding of prices, but the Twenty-four thousand cars would bhe required to carry this year's apple crop of the State of Washingto: life has gone out of the market. This is because would-be buyers of the higher-grade investment {issues are holding off on the idea that the drift | of the interest rate is now upward, even If very gradually so. The gold exports to Germany and to Indla, of no consequence in themselves, are nevertheless contributing a psychologi- cal influence along this line. Grain Soars—Cotton Lags. The principal incident of the week, apart from the continued advance in stocks, has been the renewal of the rise in the grain markets. Both wheat and corn have touched new high prices for the year, the upturn in the former being particularly vio- lent. The point has been established that the grain trade did not go wrong in its estimate two and three months ago of the falling off in supplies from competitor countries, and how this would finally work upon the minds of European con- sumers. In the meantime it is diff- cult to adequately gauge what the rise of 60 to 70 cents a bushel in wheat prices since last March and the scarcely less extensive advance in other farm prices mean for the buying power of the agricultural communities. The results have begun to show in figures for the retail trade, but not to any extent in railway gross earnings. The November gross re- turns have not been especially fa- vorable. The comparison with 1923 has been good only by reason of the fact that a year ago the railroads were expending abnormal amounts for maintenance, whereas now they have been cutting thes - tions down. i A The cctton market weel Jas been virtually Still. The fact that it has nof in With the rise In other specuianios quarters may be regarded as sig- nificant. It fits in with the con. tention that the statistics are against the present price level and that this is only being sustained by the hope that In the course of a general business expansion the cot- ton goods trade will be pulled along. French Position Stil Infinted. The higher French bank rate has 0 far fafled to accomplish .n‘f:m.?g along the line of deflation in France. On the contrary, with the bank charging 7 per cent instead of 6 for rediscounting other bank and private paper, the loan and discount item has not gone down, but has continued to rise. In consequence, paper currency instead of decreasing is holding well Up to the highest for all time. In a word, despite all the hopeful talk about the results of the Dawes plan, the French financial position contin- ues at almost the maximum inflation, Naturally under these circumstances the franc is slow to respond to the favoring speculative influences in other directions. Sterling holds up well around its top, but during the past week has not resumed the main advance interrupted a fortnight ago. LCopyright, 1924, by Copaolidated Prcasd through the at a stand- |to EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. “CONSULT YOUR BANKER.” What justification is there for the , phrase, “Before inveésting consult your banker”? ¥ou, yourself, are probably famillar with your bank and have a hazy idea of what it does, but have you ever visualized the entire bank- ing system of this country? There are 29,465 banks, of which 21,230 are State banks, according to the National Association of Super- visors of State Banks. Five years ago there were a few less, or 25,813. At that time 7,785 were national banks. In other words, the increase for the country in five years in num- bers Is relatively negligible. How- ever, when it comes to a comparison of resources over the period from June, 1919, to March, 1924, there is a Qifferent story. Total resources have increased about 19 per cent and now stand at a figure which few of us can even dream of, about 55.7 billion dol- lars. Even the 46.8 billion dollars in June, 1919, was a pretty blg figure. Deposits have shown a smilar in- crease and our banks now have to lend or invest some 46 billion dollars in deposits. That is quf a job. About 29 billlon is in loans and dis- counts and another 13 billion in se- curities. Since the bankers—or at lgast the owners of bank stocks— have some 6.7 billions of their own money Invested, they are mighty careful how they place that enor- mous fund, because If there are any losses the stockholders stand for them, not the depositors. Since the bankers must of neces- sitv. lend or invest effciently and safely many billions In order to safe- guard their own money, it is evident that they, in the aggregate, invest in, or lend to, every type of business. Undoubtedly more biilions would be added if the private investment bankers were included in the tabula- tion. There are many kinds of bank- ers and they specialize on different phases of banking; some are commer- | ctal bankers and some are invest- | ment bankers, but who in all the world is better fitted to advise You n investment matters than your anker? (Copyright, SILK T0 COST MORE DURING YEAR 1905 1924, by Consolidated Press.) { Larger Amount Also to Be | Used by Women, According to Manufacturers. i | i BY J. €. ROYLE. - Star. December ~The United States are expected to wear more silk in 1925 | than ever before. They also may be | expected to pay more for it, accord- Ing to manufacturers. Prices of raw silk and of manufactured silk| goods have kept approximate pacet in the last decade. Each is about 90 per cent higher than the levels of 1312, But opposed to that, the hourly rate of wages in the same [period has Increased approximately | {220 per cent. Manufacturers point | to this fact and declare that prices for the manufactured product must] advance or thelr margin of profits| will do a disappearing act worthy | of Houdini. Active Year Expected. Nevertheless they expect an active and prosperous year in 1 There has been more stability recently in the price of raw silk. Artificial silk has been pegged during a greater | Ipart of the last vear and general business conditions are counted on insure a strong demand. This contention is sustained by the fact that at present 80 per cent of the {labor in the industry is employed and 82 per cent of the machinery is in op- eration “The silk business” Horace B {Cheney of Cheney Brothers, one of the oldest silk manufacturing firms in the country, sald today “has been going through a period of extreme difficulty and depression, with a large number of failures and very unsatis- |factory prices. The prices of silk | goods have not risen relatively with | those of cotton and woolen cloths or {in comparison with those of raw sl {and labor. Recently there has been |more stability in the price of raw silk, with a much firmer tone and a decided upward tendency in goods. Steady Improvement Noted. “There is at present a decided in- dication of better times to be looked for in 5> silk business. The lowest point of ~apacity In both persons em- ployed and machine hours operated was reached in 1932, when only 50 per cent of the workers were employed and machinery was on half time. Now there is a decided indicatjon of greater activity. Since election there has been evidence of an improvement in busi- ness everywhere, and the silk Indus- try is getting its share of it. Not only are there more activity and more orders, but prices show an improve- ment. “People buy on a rising marke\ and stand aside and watch a falling one. There are decided symptoms that conditions in Europe are better than they have been and that they will continue to improve. Just what offect this rejuvenation will have is problematical. It is certain business cannot be settled in the United States until conditions stabilize more in the world. On the other hand, settle- ment of conditions abroad will tend to out into our markets through abil- ity of European countrles to produce more cheaply. Wage Changes Unlikely. “In view of these conditions it does not seem probable that we can look for booming times in all industry. But a gradual improvement here and abroad is probable and under such circumstances it will be a long time before we have to fear Interference with our markets. “It is extremely improbable that we may look for considerable change in wage conditions here. Our own ex- perience as a firm extending over a period of approximately 86 years con- firms the Bureau of Labor statistics in relation to wages and employment. No decrease in' wages has been shown except for the briefest periods. “In the immediate future there is every prospect that business will be more prosperous, more solidly found- ed and with less probability of re- action In the next year than at any time since the end of the World War.” FINANCIAL NOTES. NEW YORK, December 27.—The Philadelphia and Camden Ferry Com- pany has declared a 10 per cent ex- tra dividend, in addition to the regu- lar_quarterly dividend of 5 per cent. Charles G. Dubols, president of the ‘Western Electric Company, which is controlled by the American Telephone and Telegraph Company, estimates sales for 1924 at $300,000,000, the highest in the company's history. This compares with $255,177,000 in 1923, | Special Dispateh to Th N YORK, women of the Query the Premoter. Determine how much of his own money the promoter is putting into his scheme before you decice to risk yours. Don't take his word for it.— make him prove it. D. C, | rather SATURDAY, ARTIFIGIAL SILK INDUSTRY BOOMING Babson Reports New Product Gaining Strong Hold. Strides Since War. BY ROGER W. BABSON. Special Dispatch to The Star. WELLESLEY HILLS, Mass., Decem- ber 27.—The news that premiums are being offered for deliveries of arti- fictal silk while the rest of the textile industry s just emerging from one of the worst depressions in its his- tory Is Interesting and may be sig- nificant. Although the process for making artificial silk has been known for 20 years, the industry has not developed to any extent until the post-war period. Some 8,000,000 pounds of arti- ficial silk was made in the United States during 1920. Production last year reached 35,280,000 pounds ana this year will doubtless show an even greater increase. American produc- tion last vear equaled two-thirds as much as the real siik imported, while world production of artificial silk to- taled as much as real silk produced. Growth Proves Amasing. What was regarded four years ago as an infant industry in this country must today be looked upon as & lusty infant whose growth amazes even its parents. The baby Industry grew so fast, in fact, that the textile manufacturers and dealers did not even have time to name it. The first name, “glos,” did not seem to suit and while the second, “artificlal silk,” has been used more generally than any other, it is not a correct classifi- catlon. The new fabric is no more artificial silk than it is artificial cot- ton. Tt is a distinct textile made of cellulose Some of it is manufactured from a cotton base by the nitro-cellulose process. A cheaper grade is made from wood fiber by the viscose process. Manufacturers and dealers have now named it “rayon” and it is hoped that it will soon be known and called by this, its own name. New Product Pop: Having somewhat the real silk, the new product used to lend decorative effect to other fabrics. Lacking the necessary strength to be used alone for most sorts of clothing, it is being mixed with cotton and wool or combined with these fabricse when tensil strength is not needed. The question as to Its effect on other textiles nat- urally arises. It seems to compete most directly with silk, but when its actual uses are analyzed, it Is seen that it is employed where real silk | would be too expensive anywa 1 The two materials really have dis- | | luster nf! is being | | | i | tinctive fields. There will always be a demand for real silk with its greater tensil strength and other qualities which have not been repro- | duced in newer products. Rayon | tends to supplement the silk industry | than compete with (it of course, there is direct competition in | some instances, but it is not any- | where near as serious as superficial consideration might suggest. Production at Low Cost. i The cotton and woolen interests have watched this new development and have been trying to find out just how it will affect them. Ravyon is be- ing produced in certain European countries, notably TItaly, at a very | low cost, o low In fact as to compete directly with some grades of English cotton yarns 8o far as price is con- cerned.” The Itallan product is made | largely from wood pulp by the cis- | cose process. Water power is plenti- ful in Italy and abundant cheap la- bor has enabled them to get their costs down to a minimum. As processes are further perfected and costs as reduced it is possible! that rayon may come into dlrec competition with cotton for certai purposes as far as Europe cerned. Most manufacturers of cot ton, however, have benefited so far | by the introduction and popularity of the new product. They have in-| corporated rayon with cofton to get | designs and effects heretofore im- possible or impractical, | Entirely New Product. In a real sense the added beauty | gained by combining rayon with cot- ton have acted as a stimulous to the | demand for certain types of cotton | goods, ! Rayon, then, is neither an imitation of silk nor a substitute for cotton. It is an entirely new product con- tributed by sclence to the textile in- dustry. It is relatively free from price fluctuation and promises to add | materially to the variety obtainable in textiles. As an industry, rayon is enjoumg a growth hardly surpassed by any other industry in the present decade. NEW BANK RECORDS. ATLANTA, December (Specjal). —Bank clearings, postal recelpts, bank deposits and liquidation of debts all reached new high record| figures in the last week. Investors and builders are making greater con- struction plans than ever and plenty of money is avallable for such pur- poses. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ST. LOUIS, December 27.—The first shipments of strawberries arriving| here sold at $2.25 a quart wholesale. | TULSA, Okla.,, December 27.—Patrick Malloy, receiver for the Constantine Refining Co., is urging oil producers in the Midcontinental fields to sell their refined oil through a co-opera- tive agency at & uniform tank car price. ATLANTA, December 27.—The cot- ton acreage will show little change in 1925. The crop was profitable, but farmers are somewhat disconcerted over reports that fertilizer will ad- vance $5 to $10 a ton in the Spring and this is having an effect on acre- age. KANSAS CITY, December 27.—Sales of work clothing in this section con- tinue of enormous volume, with all local plants working at capacity and some employing extra hands. PHILADELPHIA, December 27.— DECEMBER 27, 1924. FLORIDA Land of Sunshine and Prosperity We bave a_large acreage and subdivision . proposition. Requires some capital. This is | 80 _"exoeptional .rponnn“y to make money and a good safe investment. O. B. ZANTZINGER FEDERAL-AMERICAN NATIONAL BANK RESOURCES $13.000.000 8IS F ST Jonn PooLt Pusmew Second Trust Notes Bought Our clients are ready to pay cash for SECOND TRUSTS in any amount. The rates will please you if the security is sat- isfactory. MORTGAGE DEPARTMENT (SHARNON_& LUCHY) 713 and 715 14th Street N.W. Main 2345 When You Have Funds to Invest, See WELCH, Loan Specialist Established 1599 Real Estate Notes for Sale in Amounts from $250 Up to $1,000 or More. Consult Welch, Realtor Loan Specialist 15th & N. Y. Ave. M 4346 Any Bank. Trust Co. or Title Co. in the District. No loss” to an investor 25 years. —— ————————— We have funds imme- diately available for first trust loans on homes, apartments and Dbusiness properites—also con struction loans. Minimum Rates Boss & Phelps Realtors 1417 K St. N.W. Main 9300 Reference: in A Limited Amount of % First Mortgage Notes for Sale Secured On High-Class Chevy Chase Property Not Exceeding 50%, Valuation Denominations of $250, $500, $1,000 Loan Dept. of M"KEEVEd GOSS Realtors 1415 K St. N.W. M. 4752 | MONEY TO LOAN ' 5 l/ 2/ Apartment Houses { Business Property L. & Sons| __Maia 6140 TART the New Year by adopting a plan that will pay you 7% on your 1925 savings, instead of the usual 3% or 4%. Your savings will be ap- plied to an investment in our 7% _First Mortgage Bonds. These bonds are There is a shortage of sheep leather re- ported for use as in linings of wom- en's oxtords. The market for glaced kid is steadily improving. NEW ORLEANS, December 27.—Al cigar factories in this section which catered to the holiday trade did an unusually good business and some re- port their sales were 25 to 30 per cent ahead of those of last year. PITTSBURGH, Pa., December 27.— Cheered by contlnuation of good times, the glass Industry is optimistic for 1935 business. There has been no falling off in demand this month as_compared with November. MONEY TO LOAN 515% Esie FRED T. NESBIT Tvwtmest Bds . Nais $M strongly secured by im- proved city property and have behind them our record of no loss to any investor in 51 years. Small sums may be in- vested under our Invest- ment Savings Plan and every payment starts immediately to earn 7%. Call, write or telephone Main 6464 now for our free booklet telling about this profitable plan. The F. H. Smith Co. Tounded 1878 FIRST MORTGAGE BONDS l| Bmitt Building. 815 Fifteenth St, FINANCIAL, Low Ratex—Quick Action E. S. HEGE 1410 H N.W. Prompt Action First Mortgage Loans Lowest Rates of Iaterest 20d Commission Th . Fishe ! omas J. ,.,‘,‘;f.&’"'""" nc. The National Capital Bank The annual meeting of the stockholders of The National Capital Bank of Washington, D. C, for the election of direc- tors and the transaction of any other business that may be brought properly before the meeting will be held at the bank Tuesday, Jan. 13, 1925 —between the hours of 12 o’clock noon and 3 o'clock p.m. H. C. STEWART, Cashier. 17 Money to Loan | Bscured by frst desd of trust en real estate. commissi interest ion. eller b. L, & Trusy Was! Bidg.. 9tk & F N.W. Prevailing Joseph I. WE FINANCE Besldence Hotels, Ete. Higbie & Richardson, 816 15th St. N.W. Inc. When You Need a Loan, Think of WELCH, Loan Specialist Money to Loan At 6 and 6,% Interest Before Placing or Renewing Your 1st or 24 Trust Consult WELCH, Realtor Loan Specialist 15th and N. ¥. Ave. Main 43468 Over a Quarter of a Century Without son. a Loss Main 2100 ‘A WORRY-PROOF INVESTMENT OUR FIRST MORTGAGES are a worry-proof investment. They are secured by improv- ed Washington conservatively There is no bother incident to drawing papers, etc. Every de- tail of title and legality has passed our close inspection. We shall be pleased to have you inspect the security in per- Call at our office or write. No obligation. B. F. SAUL CO. real estate, appraised. 925 15th St. IF YOU DID NOT —receive a Christmas gift of one of our select FIRST MORTGAGE NOTES, sure to plan your investments for 1924 to include one of these excellent securities. Consult your banker and see if he does not place first liens upon improved real estate at the top of the list of safe invest- ments. We have never lost a dollar for such patrons. Mortgage Investment Department N & LUCHY| 713 and 715 14th Street N.W. be Main 2345 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES_OF INTEREST Romdall H Hagner ¥ Ga. 1321 Conecticat Hvenne A Safe Investment For Your January Funds at GVZ% F you have an investment—bonds or other securities—about to be paid off, you will want to get the highest return by keeping your principal constantly at work. Our organization is so planned that we can keep your money invested and rein- vested in First Mortgage Notes on im- proved Washington real estate, so that your principal is earning for you without in- termission. These Notes are obtainable in denomina- tions of $100 and upwards. Call today and arrange to reinvest promptly the funds made available by maturing investments or from ~January dividends. SWARTZELL EEM & HENSEY (0. Sireet, W, shington.D.C. 55 Years Without Loss to An Investar.