Evening Star Newspaper, February 4, 1925, Page 29

FINANCIAL. EGGS AGAIN DROP INLOGAL MARKET Another 2 Cents Taken Off Today—Meat Demand Reported Slow. “Draggy” was reported of the con- dition of the meat market today. “In other words,” remarked a dealer, *“the market is lifeless.” Most demands are for cholcest meats and best cuts, dealers stated. Prices have not undergone much change the past few days. Egg prices continue on the decline, @ drop of 2 cents reported since yes- terday morning. The price of fowls slightly increased. Today's Wholesale Prices. Butter—Fancy, tub, 47a50; prints, §5a57; store packed, 20a Egi Fancy, selected, candled, 53 a54; average receipts, 50a5l; storage, 45230 Poultry— chicken 15a20 3 Spring fowls 8; geese, Live stock medium, 10all; Spring, 13; live Meats—Beef, 26a30; roosters fowls, ats, YOUnE, 5a20; dressed, chickens, Alive, 28a30; k sh-killed roosters, 30 40a45; ducks, 40a45. 13a14 lambs, | capons, alves, cholce, thin, 6a7; hogs, $al2. 1 veal, hogs, 14a16; loin , and shoulders, 14a 12: nbs, hams, Fruit and Vegetable Review. s market report of fruits and v (compiled by News Service Bureau of Agricultural i o Apples and moderate, Maryland, a, A 21 inches up, ; Yor 6.0026.50; boxes— Northwestern, medium to large size extra fancy Sta de- licious, 4.50a4.7 Cab! —Supplies mand moderate, market ste stock—New York, bulk, per ton, Dan- ish type. mostly around, 35.00; new | stock—Florida, 1% bushel hampers, | pointed type, mostly, 2.25 Celery—Supplies moderate; demand | mo te, market steady: Florida, 10- nch crate dozen, best, mostl 8.25; 8 dozen, 2.50a2.75 .ettuce—Supplies moderate, market California crat dozen, fair q fornia, Imperial berg type, 4 dozen, Florida, 2 dozen crates, type, 225, few higher. ket steady and Sta m Virginia Virgin liberal; demand ! firm; Arizona, | Iceberg type, 4-5| 00; Cali- crates, Ie 5.50a5.75; Big Boston | demand | Onion Market Steady. Onions—Supplies limited moderate, market steady; New York and Ohio, 100-pound sacks, Yellows,| United States, No. 1, medium to large sizes, 3.25a3.50. Potatoes—Supplies moderate; de- mand moderate, market firm; Michi- gan, 150-pound sacks, Russet Rurals, United States, No. 2.50a2. per sack; New York, 150-pound sacks, Round Whites, United States, No. 1, mostly 2.50 per sack, few higher. Spinach—Supplies moderate; de- mand moderate, market steady; Texas, bushel baskets, Savoy, 5a1.85; South th-top veneer barrels, omatoes—Supplies mand moderate, market steady; Flor- i 6s, ripes and turning, wrapped, best, count, 6.50a7.00, mostly 6. choice count, 5.00a5.50. ulifiower—Supplies limited; mand limited, market steady; fornia, crates, 2.75a3.00. String Beans Cheaper. String beans—Supplies moderate; demand limited, market slightly aker; Florida, 7-bushel hampers, 3.50a4.00; fair quality, moderate; de- de- cali Peas—Supplies very light; good stock scarce; demand moderate, mar- ady; Florida, %-bushel hampers, ordinary quali 00a4.00. Squash — Supplies light; demand good for good stock, market firm; Florida, pepper crates, white, 5.00a 5.5 few, 6.00. zgplant—Supplies very light; de- mand good for good stock, market steady; Florida, pepper crates, 5.00a 5.50. Peppers, Cucumbers, Beets—Sup- plies very light; no sales reported. Strawberries—Supplies very light; demand moderate, market Florida, pony refrigerators some soft, a30 per quart Carrots—Supplies liberal moderate, market steady; bushel baskets, best, 2. small, 1.75a2.00. | demand 1 YOUR INCOME TAX Expert Advice Given by United States Internal Revenue Bureau Based on_Latest, Changes in Legislation. ARTICLE NO. 23. Amounts paid accrued within the year 8 interest on indebtedness are deductible, with certain P- tions, from gross income in determin- ing net income. Such items include interest or money borrowed to de- fray personal expenses— clothing, food, etc and also money borrowed for the purchase of real estate. If a person owes money secured by a llen or mortgage on his home, the amount of interest paid on such indebtedness may be deducted. Moreover, interest paid by the tax- payer on a mortgage upon real es- tate of which he is the Igal or qui- table owner, even though the taxpayer is not directly liable upon the bond or note secured, may be deducted as Interest upon his indebtednens. For example, the owner of a house and lot borrows money from a bark, giv- ing his note or bond and a mortgage. He then sells the property subject to the mortgage. The purchaser does not agree with the bank to pay the mortgage, but does pay the interest. 1t it were necessary to foreclose on the mortgage, and the proceeds of the sale of the property were not suf- ficlent to cover the amount of the note or bond, the bank could not sue the purchaser, but would have to look to_the seller. Indebtedness need not be evidenced by a lien, judgment or mortgage to make the interest thereon deductible. Frequently indebtedness is evidenced only by notes without additional se- curities. A taxpayer may borrow money from an insurance company in which he is insured. Even where the money is used to pay the premium due upon the policy, the interest paid thereon may be deducted as personal Indebt- edness. Interest pald on behalf of a friend or relative where there is no legal obligation on the part of the payer cannot be deducted. In such ca P»lhh payment amounts to a loan or gift, Since interest paid may be deduet- ed, it follows that interest received is subject to the income tax, and ghould be included in the gross in- come of the recipient. Interest need not be received in cash, but is con- structively received when credited and held subject to call. For exam- le, interest credited to a taxpayer's aving account for the year 1924 is | 14900 |days, during which the ticker at times Received by Private Wire BY WILLIAM F. HEFFERNAN., NEW YORK, February 4.—The curb market gave way more easily to sell- Ing pressure today after an early D_erlod of strength in which numerous oils and other industrials were bid up somewhat further. Attempts to check the 4ecline in the radio group were without success, and several of these stocks, were offered down sharply. Freed-Elsemann dropped to around its low figure agaln, Hazel- -tine Corporation, selling ex the $1 dividend, lost over 3 points when it dropped below 35, and a decline of another point occurred in Ware Radio. Several members of the independent | NEW YORK, February 4.—! ing is an official list of stocks traded in on the Curb Market today Sales in BOND: thousands. 4 Alliea 1 Alum 7s new 19 Am Gas & Elec 6s. . 41 Am Beet' Sug 6s wi 53 Am Tow & Lt 6s old 11 Am Sumat Tob 7l 6 Am Rolling Mills s 21 Apaconda 6 4 Asso Sim Hdwe 8135 2T AU G & W IS S by 10 Beaverhoard 1 Beth Steel Tx n Nat Ry Leather 6 “ollow bonds_and New York Packers Ss.. S Detroit Edison Dunlop Ti & R nt Trunk It 0il Cor Cehigh Pows 1 Libby MeN 8 Manitoha Mid Contl 21 Morris & Nat Distill North Sts Pow ity 21 Nth Sts P M 615 € 3 Pennock OIl Corp 65 Pub G & E Co 5lax, re Ol Co nn Steel Ts. w awsheen ¥ « ¢ « I Prod FOREIG City of Bogota 8x.. French National 7x. In Mtg Bk of Fin 7« alinn Power 61s King of Newh 6 20 Krupp Fried T BONDS. a614 & E 6135 11 90% 9374 10315 e A 10087 . 107 Swift Tidal Osa; BTuEL&D 1 Vacuum Ofl 7s NDARD OIL ISSUES. 10015 107 Sales in 1200 Anglo-Am Oil . 800 Atlantic Lobos | 9 Bucke L 600 Chesebr : 50 Cumberland P L.. 147 800 Gal Sig Oil...... 64 2000 Humble Ol & Ref 47% 1401 P L. voee 1494 1010 Tmp 0N of Can.. 133 6700 Tmp 0 of Can n wi 26800 Internl Pet Co 1td 510 Magnolia Pet 400 Nat Transit 70 Northern P L. 1400 Obio Fuel 3100 Penn Mex Fuel 480 Prairie 0l 19% 31, o8 53 147 61y i = 54 285 1381y Pen 0 Southern 0 Ind 0 Kansas.. 0 Ky 0 QNY 0 Obto 0 Ohio pi OUTPUT OF TICKERS INAMAZING JUNP Fifty-Five Transactions to Come Over Tape Every Sixty Seconds. [T P L. K00 70 8 1500 8 By the Assoctated Press. | NEW YORK, February 4.—Plans of | the New York Stoc Exchange, an-| nounced for Februar¥ 7, to abbreviate | symbols on 100 important stocks are | expected to speed up the stock. ticker almost 20 per cent. The ticker would then print an average of 55 transactions every 60 seconds upon the tape reeling from the familiar clicking glass hive into the basket, a quickening In pace almost 50 per cent above that of two years ago. The change has been made necessary by the recent record-break- ing bull market of 2,000,000-share has fallen as much as 15 to 42 min- utes behind the actual trading. Service to Be Extended. The Western Union at present flashes stock quotations by automatic transmission as far west as Cleve- land, supplying Boston, Philadelphia, Washington, Baltimore, Pittsburgh, Al- ban: yracuse and Rochester on the way. The company now aims within the next six months to push the western objective as far as Chicago, which is now fed by Morse relay, and also to embrace in this direct service Minne- apoll Omaha, Kansas City and St. Louis. Reporters in Worst Fix. The new symbols will cause little inconvenience to the trading public. Seldom does a broker's customer, it is said, have more than 15 separate stock issues in his strongbox, and he can readily memorize their changed designations anew. The hardest hit will be the brokers themselves and the reporters on the floor of the Stock Exchange, who pluck sales on the wing from the brokers milling around the score of trading posts, and to them 1t is all in the game. PRODUCERS FAVOR $100,000,000 MERGER Restricted Output Rather Than Ex- pansion Expected to Help Industry. Special Dispatch to The Star. NEW YORK, February 4.—Coal pro- ducers located in this city see in the proposed $100,000,000 merger of West Virginia mines announced by Flint & Co. an opportunity for better- ment of the coal situation by restric- tion of output rather than by expan- sion. It is a well known fact that de- mand for bituminous coal is not sufficient to keep the present mines of the country occupled or the miners of the industry at work. Some of the West Virginia proper- tles involved, however, have extreme- ly low labor costs as compared with income for that year. (The next article in this series will appear tomorrow. mines of otMer districts and it is expected full advantage will be taken of this fact in operating the merger properties, THE EVENING NEW YORK CURB MARKET Direct to The Star Office oil group continued in demand. In- cluded among these was Gibson Oil, which was actively bought above 2 on reports of new production in the San Juan County, N. Mex., where the company has valuable leases. The break of over 2 ponts in Vacuum Oil appeared to represent the good news” following nouncement that directors had de clared an extra dividend of 50 cents a share in addition to the regular quarterly 50 cent. The new Motor Wheel Corporation common, which was offered for public subscription a fow days ago at 15%, stood out strongly among specialites, advancing to 16. Sales INDEPENDENT QIL STOCKS. in hundreds. 11 Ark Nat Gas % Surih Synd 41 ervice erv ped.. ] ¢ pra it s Serv “B” cfx 20 $2,000 Cition Service scrip 16 atal Oil 30% Syna 10 Derby 0 & Ref. 5% 60 Engincers Pet mon 011 ( W Rock O 1t Ol of Pa Kirby Pet Lago Pet Latin Lance Mount New Bradf New Mex Land. N Y o Peer Ol Con .11 Penn Beaver Oif . Roy Can Ofl & Re Ryan Con ... it Ck Prod Midul Osage Oi Tidal Osnge Ol n'v United Cent_0il Venezuelan Pet West Wi & Lt new A uperpower 1 jated G & B.. Borden Co.. : Borden Co pfd. Holss Rrool Brooklyn City Burroughs A M pfd 2 Centrif Chapin 4 Childs € C Bak B Coutinental Bak pf Curtiss Aero Moo 3 Cart_Aero Mot pfd De For Rad Co vic 3 Doeh Die Cast Co 6 Dub € & Rad new Durant Mofor Dup € & R vte Duz Co A East Penn 4 EI Bond & S Bd & Shonw co Tavest Inc exhmur lette S Alder Goodyear Tire . Grimes R C R . Happ Candy Stor & Hazeltine Corp t1 Rubber h Cor pfd Ra Cor Power Vil Cor n wi Rody Corp, Oppenheim Coll wi Oumnibus Corp A Pl 5 Omnibus cor v t cfs 3 Paige Motor ...... Penn Wat Pow Co. Power Cpa N Y... Pratt Lambert wi. Pyrene Mtg Richmond Radiator Rova Radio tr cfs.. cagraves Wi . il Gel Pr pew vie Shattuck F C.. Sleeper Radio vt So C &I new...... putheastern I & T, outhern Calif Ed, it Bd 6s ptd o Calif Ed 7x pfd. uthwest Bell ptd. ndard Pub Co A atz Motor. 3 ift & Co c ower Po ud pt dyne R Cor ) Ra Cor v t ¢ ad Co ptd ..., Pro_Exp . Union Carbide United Lt & TUnited Pft Shar .. Uni Shoe Ma (o Wanner Mall Cast Ward Bak Cor A.. Ward Bak Cor B.. Ware Radio Cor .. Western Power . Western Pow pfd. . Wickw Sp St Co wi MIN Alamo Gold M . Ariz Globe Cop ... Butte & Western . Canario _Copper Cortez_ Silver Sresson Gold ... Crown Reserve Diamondf Bk Dolores Esper .. Eng i Lta Ind Fureka Croesus .. Flor Goldf Min. .. Goldfield Deep Min Harmill Div Hollinger Hecla Mine Howe T Independence ' Toad Jerome V Devel.. HbiCons. Soiii. Kuy Copper Corp.. Mason _Valley New Cornelin New Jersey Zin Nipissing ... Oliio Copper Plymouth Lead Min . sold Min.. Ray ales Toc. Red Hill Florence. Silverdale ....... So Am Gold & P.." Spearhend_Gold. Tonopah Exte Tonopah Mining. T Gold Rt Pre Wilbert L GULF SULPHUR’S NET. NEW YORK, February 4—Net in- come of the Texas Gulf Sulphur Co. for 1924 showed a slight ingrease over 1923, the total of $4,814,01¥ com- paring with $4,737,020 the year before. This was equal to $7.58 a share, against $7.45 in 1923, England to Give Better Protection For Industries By the Associated Press. LONDON, February 4—A gov- ernmental white paper says indus- tries in Great Britain may hence- forth secure protection if they prove to the satisfaction of the Board of Trade that they are suf- \>ring unfair and abnormal compe- tition and also demonstrate that they are managed efficiently and economically. No applications will be considered from industries deal- ing in food or drink. This policy receives a mixed re- ception in the press. All the Con- servative organs but one, welcome the proposals as “eminently rea- sonable” and say they will satisfy all but the most hidebound free traders, CATTLE AND HOGS TOAVERAGE HIGHER Eggs Also to Cost More, But Poultry Will Drop, Says Agriculture Report. | | Beef cattle prices this year will average higher than during 1924, the Department of Agriculture stated yesterday in its annual report on the condition and forecast for meats dur- {ine the next 12 months. “A consid- erable increase” in hog production next Fall and a corn acreage about the same as 1924 was recommended. ' The production of wool and the growing of sheep will be about the same as the past vear, it was said. Dairymen were urged not to at- tempt to expand over last year. Higher egg prices will be in demand, but the poultry prices may be lower. High Hog Prices Seen. “Hog producers,” the report says, “enter 1925 with 18 per cent fewer hogs than a vear ago and there lIs every Indication that prices during the next 18 months will be higher than at any time since 1920. Six to | eight million fewer pigs will be born | this Spring than last Spring. “While the 1924 corn crop will probably be well cleaned up, an in- icreased acreage in 1925 does not ap- { pear advisable in view of the indi- cated reduction In the feeding de- mand. Stocks of old corn on farms are likely to be smaller than usual in the beginning of the new crop year 1925, but it appears that not more than an average crop will be required to supply the needs of the country for both feed and commercial purposes. Higher Beef Cattle Expected. | “Prices for beef cattle for 1925 should average somewhat higher than for 1924. The industry is gradually working Into a more favorable posi- tion due to the relation of beef to competing commodities, especially pork; improved industrial conditions, and in no small measure to the cat- tleman's own sacrifices. Market re- ceipts will probably be somewhat smaller than in 1924. All conditions indicate that the long-time outlook for the industry is even more favor- able “Further expansion 1925 seems inadvisable. A recovery in prices of dairy products could hardly be expected should the num- ber of milk cows be further In- creased. Domestic production ap- poars adequate, and the foreign dairy situation is such as ta keep world market prices low and thus limit the to which our butter prices without bringing In foreign in dairying in the sheep industry in 1925 appear favorable. The world wool outlook and the prospective meat situation in this country promise prices for 1925, at least, on a par with those of 1924. ()lllloql( for Poultry. “The outlook of the poultry indus- try during 1925 from the standpoint lof” market egg prices is favorable, while from the standpoint of market poultry prices It is not so encourag- ling. ‘It seems probable that higher egg prices will prevail during lhe» s son of flush production this year | than last “With an abnormally large carry- over of dressed poultry in storage is seems probable that lower prices on‘ market poultry may prevail for, at| least, the first half of the year. Colt Production Deciinex. ‘“There are as many horses and mules of working age on farms as will be needed for the coming season, and average prices of work stock are lower than they were a year ago. A decided decrease n colt production during the past few vears. however, points to a future shortage of good work stock. This shortage is likely | to be acute during the time that colts foaled this’ year and next, or even young horses purchased now, are still in active service.” >rospects for 1 DAIRY PRODUCTS. BALTIMORE, February 4 (Special) —Live Poultry—Young chickens, Ib., 24a32; Leghorns, - 24a28; Winter chickens, 33a35; old hens, 32a28; Leg- | horns, 22a23; old roosters, 17als; { capons, 32238} young turkeys, 40ai5' | old, 35; poor and crooked breast ducks, 24a32; geese, 22a26; pigeons pair, 25a40; guinea fowls, each, 40 ass. i Dressed Poultry—Turkeys, 1b, 35a | 45; poor and crooked breasts, chickens, 26a32; old roosters, ducks, 25a30; geese, 25a30; 2a43. Eggs—Receipts, 2,742 cases; native and nearby firsts, doz., offered at 49; bid, 47. Butter—Creamery, Ib., 37a42; primes, 40a42; ladles, a20; store-packed, 20all; process butter, 33; dairy prints, 21a24; rolls, 21a24. s, 25; | 5; | 18; capons, good to fancy, | EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. SPECULATORS POOR INVESTORS.| More than once in this serles It has | been dwelt upon that speculation is dangerous for the average investor and that he seldom makes a success of it. Now I want to turn the matter around and say that speculators makei poor investors. The trouble with the | speculator Is that when he comes | to invest he confuses price with value. The two things are not the same at all. Price is the current estimate of value. A speculator makes a busi- | ness of the study of price changes. By forecasting fluctuations in market | quotations he makes his profits and | incurs his losses. He becomes so| absorbed in following the market that when he comes to Invest he ap- | plies the same rule that he uses suc- | cessfully or unsuccessfully, as the' case may be, in his speculations. This is a great mistake. Values change very slowly; prices often change very rapidly. The result is that it is very difficult to persuade an active'specu- lator to buy perfectly sound invest- ment securities unless he can, as he phrases it, “see them” every day. He is obsessed with the idea that some- thing may happen overnight to change the status of his investment. As a matter of fact, such an oc- currence is almost unheard of. The stock market may break overnight and it may not always be possible to turn a sound investment into cash on a moment's notice, but the yalue back of the investment is relatlvely stable. I am not saying that in- vestment values dare fixed quantities. Nothing is fixed in this world, but important changes in real value come to pass very gradually and can be forgseen by the exercise of moderate intelligence. On the other hand, no one can confidently predict what a speculative market is going to do at any given time. So if you are a speculator and have money to invest, as some- times happens even with speculators, do not give first place In your thoughts to the ups and downs of the market, which may be important or may not. The vital thing is the tangible property back of the invest- ment, the stability of its earning power and, last but not least, the character of the management. (Gopyright, 1925, by Consolidated Press.) CANADA INFIHT OVER TARIF RATE Parliament Session Declared Vital to Welfare of United States Farmers. BY J. C. ROYLE. Special Dispatch o The Star. NEW YORK, Febru the Canadian’ Parl will assemble may have almo: bearing on the welfare of the farmers of the United States and on some other American ingustries as legis- lation passed at Washington hefore March 4. Dispatches from both the eastern and western sections of the Dominion today indicate that many matters affecting the United States will come up for action. 4.—Action by i, w as important a Tariff Center of Battle. The tarift wall will surely be the center of a battle between the In- terests of the east and west of Canada. The farmers of the prairie provinces want the wall lowered since they use considerable quantities of American goods. The maritime provinces are insistent on a retali- atory duty to protect their fruit and dairy products in the home market They also want an export tax on wheat and other agricultural products that go to the seaboard by other tha Canadlan channels. This, of cour: would affect shipments of grain passing through the United and shipped over Ameri and in American vessels. Talk of Pulp Embargo. Another que-tion which will vital- ly affect the American paper industr and the newspapers of this country the demand for an embargo on portation of pulp wood to the United States. Those who back this, state the forests of Canada are being de- nuded by American interests and will put up a strong fight to have this ulp wood turned into paper within Canadian territor: It seems likely, according vices from Ottawa, that the federal government will avoid the issue by leaving the matter to the individu: provinces for action. Another Vital Insue. The effort to force manufacturing interests using Canadian products or power to establish their plants within the Dominion also will have a bearing to ad- on the advancement of the waterways | and power scheme which would be conducted by both the Canadian and American governments along the St Lawrence River The demand in mental economy FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F St. JOHN POOLE, President Canada for govern- makes it doubtful Burton M ANNT Richard C. Dyer, president and treasu and Wootton W. Crawford, secretars, on ¢ say that they are, together, holders of a jority of the stock of DYER BROTHERS, Incorporated; that the capital stock is twenty thousand dollars, fully and that the corporation has 1o debts bey urrent open accounts, which are fully covered by its re. RICHARD C. DYER, President and urer. WOOTTON W. CRAWFORD, Sec retary. Sworn_and subscribed February 2. WILLIAM J. DANTE. 0DD LOTS MARGIN ACCOUNTS DIRECT PRIVATE WIRE CONSOLIDATED STOCK EXCHANGE BUCK & CO. 312-313 Evans Bldg. 1420 New York Ave. N.W. Phonex Franklin Franklin Main 8673 Main 3353 F INANCING : Aplrlments ]/Z % Business Houses Property Unlimited Funt Available FRED T. NESBI Investment Bullding . 9392 7300 7301 Maximum Security with an annual net yield of 12% Combined with a definite increasing value and quick marketability are the domi- nant factors in our Exclusive Washington Investment Properties Complete statements on re- quest, or phone for appoint- ment to make personal in- spection. C. P. Barrett Realtor Main 9016 1502 K St. ich | at Ottawa Thursday,| STAR, WASHINGTON, D. C, WEDNESDAY, FEBRUARY 4, 1925. whether any progress in the gigantic double project can e made at this ses- sion of Parliament, especially in view of the urge for lower tariffs. Steps to Keep Farmers. Canadian rallway rates and wages have been governed largely in the past by American rates and action of the Railway Labor Board, but efforts will be made at the coming session to evolve some course of action which will meet Dominion requirements without refer- ence to agreements existing in the United States. This naturally would af fect the railroad labor unions and the American Federation of Labor. many of the Canadian trades unions are affiliated with the A. F. of L. Steps will be taken to check emigra- tion of Canadian farmers to the United States and to adopt a progressive immi- gration policy ROAD'S PERFECT DULUTH, February 4 (Special).— The Dujuth Missabe and Northern tailroad, running from this city through the Iron Range, went through 1924 without a single fatality to employe, passenger or pedestrian. There were 45 accidents. as compared with 71 last .year, and 605 in 1917, | when the safety campalgn was started RECORD. [ —— LOANS FROM $50 TO $100 Can Be Obtained by Using Our Certificate of Inventory, Appraisal and Titl CHATTEL TITLE COMPANY 805 Fifth St. N.W. =—— FIRST MORTGAGES FOR SALE Denominations of $250, $500, $753, i $1,000 and upwards | 6% All Loans Made on Property Located in the District of Columbia JAMES F. SHEA 643 Louisiana Ave. N.W. BONDS GERMAN $7o& Bought—Sold—Quoted Full New York and Berlin Market Received Daily Send for Special Market Letter Peter Whitney 203 Investment Bldg. Telephone Franklin 3078 Departmental Employees “Your Bank” Will loan you One Hundred Dollars to start a Four Per Cent Savings Account Write or call for further information THE DEPARTMENTAL BANK 1714 Pennsylvania Avenue Under United States Government ‘Supervision MONEY TO LOAN in any amount on |2 FIRST MORTGACGE & District of Columbia Real Estate Thos. J. Fisher & Co., Inc. 738+ 15th Street Phone Main 6830 Jol——=[sl——Ia OUR February list of* selected in- vestment offerings is now ready for dis- tribution. Send for W-527 E. H. Rollins & Sons Founded 1876 | 416 Woodward Bldg., Washington Boston, New York, Philadelphia, Chicago, Denver, San Francisco JOHN JOY EDSON, President Organized 1879 Assets 9 .$4,942,132.68 Equitable Co-operative Building Ass’n FRANK P. REESIDE, Sec’y 45th YEAR COMPLETED Surplus teee....SL317,01134 Subscriptions for the 88th Issue of Stock Being Received The Man Who Saves —systematically in the Equitable has adopted a plan of saving that brings gratifying results. since || FINANCIATL. LIVE POULTRY LOWER. CHICAGO, February 4.—Poultry, alive, lower; fowls, 23a25; springs, 26; roosters, 19; turkeys, 25; ducks, 30; geese, 20a21. | Money to Loan Bocurei oy arst deed of trust en real estate Prevailing interest and Joseph 1. Weller 32 Wet. L. & Trun Bldg., 9th & ~ Your Money Will Earn 612 PER CENT —without endangering one iota of the safety of your funds or the full amount of the original pur- chase price, if you invest the same through us. THE FIRST MORTGAGE NOTES we are offering the public are not only unquestionably secure, but relieve the investor of all details of collection, etc. NOTHING CAN BE BETTER. Just pay for such notes as you want and leave the rest to us. Partial payments may be arranged. Mortgage Investment Department [SHANNON & LUCHS P ———— e 713 and 715 14th St. N.W. It Is Profitable to Re-Finance large business properties or apartment buildings at current lower rates of interest. Only 5% % is charged by BOSS 2 PHELPS LOAN DEPARTMENT 1417 K Street NW Main 9300 Large Loans Available V2% Interest Insurance Company Loans Long Term Financing Building Loans Refinancing Weaver Bros., Realtors 735 15th St. N.W. Main 1821. APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the | District of Columbia and adjacent I Suburbs in Montgomery County, Md. 5: % INTEREST ffl pply o H. L. RUST COMPANY LOAN CORRESPONDENT She PRUDENTIAL INSURANCE COMPANY o AMERICA 912 15th Street N.W. Main 6888 Rockets and Rockies Speculative stock issues may be compared to fireworks. They may shoot up brilliant- ly. Yet no one can anticipate when the appalling descent will begin. But First Mortgagesare not fireworks. The values of the offerings of a house like Swartzell, Rheem & Hensey Company do not diminish. Year in and year out invest- ors receive their interest payments on the day they are due. Our First Mortgages are the Rockies of investments —they make fortunes mount slowly, but surely/ - SWARTZELL.RHEEM&HENSEY Co. shitllgtm.D.*C. 55 Years Without Loss to An Investor