Evening Star Newspaper, February 12, 1925, Page 29

FINANCIAL CONVENTIONPLANS NEAR OMPLETION Two New Resorts Now Being| . Studied—Other Timely - Financial Notes. BY CHAS. P. SHAEFFER. The District of Columbia B Assoclation will know the ch site for the sixth annual convention within two weeks, W. J. Waller, chairman of the general convention committee, promised this morning. At the moment Mr. Waller has four places under consideration. in- cluding Hot Springs, Va, and White Sulphur Springs, W. Va. Two here- tofore unvisited resorts are compet- fog with thee popular Southern hos- telries for this year's conclave, and upon receipt of additional data rela- tive to avallable accommodations which 18 now In the mails, the coun- cil of administration of the assocla- tion will be called together, digest the inducements and make known its selaction. Date of the convention will, of course, be governed to a _cer- tain extent by the convenience of the resort. A concerted drive is being made by the association to secure the largest representation eéver boasted this year kel ce of New Leginlation Thought Near. New national hanking legislation, which {8 considered hy many banking Authorities as necessary t(o enable n: tionally chartered institutions to com- pete on an even keel with State banks and trust companies and to definitely gettle the branch banking question, is expected to pass the & ate early next week At a recent Representative the measure, and Senator member of the banking and committee of the upper house cated that once the bill is sent to conference there will be little diffi- culty in reaching an agreement on changes by the Senate committee in the House bill. conference MeFadden, between author of Pepper, finance indi- Garnett Pitts Promoted. H. Garnett Pitts, popular manager of the Washington office of the Guaranty Company of New York has been made nager of that company’s ifth avenue office, Fifth avenue and Forty-fourth street, wNew York O . and will take up his new duties Immediately. Winslow B. Van Devanter, son of the United States Supreme Court Justice, succeeds to the management of the local office National City Bank's Aswets. The National City Bank listed assets on ember 31 last at $1,14 671, according to_statem mitted to the New York oc L change. Surplus and undivided fits of the institution amounted to ita Bond Issue Allowed. The Ann Arbor Railroad Company was authorized today by the Inter tate Commerce Commission to pro- gure the authentication and delivery ©r $1,530,000 of 6 per cent improve- meat and extension mortgage bonds. New Class of Sceurlty. A new class of security will make fts ‘advent to the American public early next week when a New York banking syndicate cffers $5.000.000 of Mortguge Bank of Denmark & per cent bonds at or near par. This bank i constructed on the same plan as the 12 Federal farm loan banks in this country, except that the Danish institution deals in all classes of real estate mortgage under governmental supervision. This bank has done much to standardize the mortgage business in Denmark, establishing a standard of safety by which all in- dependently negotiated mortgages are judged. CHICAGO—LI;E STOCK MARKET ¥ CHICAGO, Februsry 12 (United Btates Department of Agriculture).— Hogs—Receipts. 00 head; moder- ately active, lower than Wednesday's best pigs steady; top, 11.20: several 290" to 320 pound price: bulk desirabl weights, 10.8 pound average to 150 pound weights at that 200 to 290 pound 9.00a9 weight, 0: light, pac king hogs. pigs, 7.50 bulk, 10.1 a11.20; med #10.90; light 1i hogs, 10.15a10.50: rough, 9.7a10.15; slaughter &9.00. Cattle—Receipts, steers slightly steady with 9.000 Dbest fully head; re active: day’s decline: spots a shade higher ling quality large- medium to good: bulk fed steers, 50; several loads early, 9.2 9.90; 1ight vearlings, upward to 10.65 #hipping demand comparatively nar- row: light heifers active, stronger; comparatively little demand for fat cows: feeder dealers bidding on bred steers suitable for general stocker and feed- the firm: bulls »avy bologna strong to 25 higher; early shippers buying rather freely upward to 14.00; packers, 12.00 to 12.50 mostly, few at 13.00. Sheep—Receipts, 11.000 head, slow; fat lambs mostly steady: buik, 18.00; early top. 18.13: best held higher; good to choice Cororados, 18.00: fat sheep dull, steady; odd lots fat ewes, $.50a0.25; feeding lambs steady to strong; most sales 17 5. STOCI‘(S iZX-DIVIDENDA Date. Carporetion Par share. -Rkiyn Edivon oneral Asph Feb 13—Wright Aero ( o Dry Gda Co Do. 24 pf Cosdén & Co pt.. Deere & Co pf. Lt Co 1 Feb 14 Feb 1+ Feb 14 Feb 14D Feb 14—Fo Feb 14 bl wer A Feh 14 Feb 1—Lima Feb 14— Feb 14—t Feb 11—Pit:st Fely 14--Sherw Feb 14—Un ted New York Stock and Bond Averages Wednexda Drug ebruary 11. STOCKS. Total stock sales, 1.8§; Twenty industrials avera 120.29: net los: High, 19 Twenty 103.16; net loss High, 1825, 104.5 averaged low, 101.58. BONDS. Total bond sales (par value), $15,756,000. Ten first-grade rails averaged £9.13; net loss Ten secondary rails averaged 90.10; net gain, .70, Ten public utilities averaged 92.13; net loss, .09 Ten indusiriais 96.16; net gain, .16 Combined average, 91.88; net gain, .18 Combined average, month ago, 9112 r ago, 87.61. averaged 1s of selected, | 160 to 190 AUTOMOBILE MAKERS IN MARKET FOR STEEL Bars and Frame Shapes in Far Bet- ter Demand—Prices Unsettled. Special Dispatch to The Star. PITTSBURGH, February feature in the amount of steel products shipped against contracts this week has been tho increase in specifications from automobile manu- facturers. This has been particularly noticeable in steel bars and frame #hapes. The auttomobile makers lagged somewhat in specifying in Junuary, but evidently are mow speed- ing up their production and probably will reach high output before March 1 The market on automobile sheets Is not regarded as fixed for the second quarter despite price announcements made by independent producers and the American Sheet and Tin Plate Co 12.—The |G C. PLANS PROBE UF FORD RAILROAD Rates and Right of Auto King to Own Line Among Is- sues at Stake. BY J. C. ROYL Special Dispateh to The Star, NEW YORK, February 12.—Lead- ers In a score of {ndustries are await- ing with interest the result of the invest{gation by the Interstate Com- merce Commission Into the affairs of the Detroit, Toledo and nton Rail- road, owned by Hen Ford. They ®ee in the case possibilities which may lead, to the sponsoring of legis- lation which will change the regu- lations affecting common carriers Railroad men connected with other roads, notably in the East, say they think it inequitable that while a rall- road cannot own an industry, an in- dustry should be allowed to own a railroad. They point out that the anthracite carriers, such as the Read- ing and the Delaware, Lackawanna and Western were compelled to dis- sociate themselves from the business of mining coal, whereas Ford, pro- ducing almost half of all the auto- mobiles made in the United States, is not restricted from owning and op- crating a railroad. Plans Rate Probe. The Interstate Commerce Commis- sion probe calls for an inquiry of di- visions of freight rates in thé East- )ern group of roads “for the purpose of determining whether the divisions of said rates or charges are preferential or prejudicial as between or among the respondent carriers named.” The order further that the investigation is undertaken | with a view to prescribing just divi-! sions if the present ones are found | inequitable. A large number of roads are listed | ax respondents in addition to the De- troit, Toledo and Ironton, but It was learned here today that Commissfoner | Potter will confine the preliminary | part of the investigation to four roads besides the D., T. and T for the | present. These are the Chesapeake | {and Ohio, the Norfolk and Western,| the Virginian and Richmond,: Fred- | ierlcksburg and Potomac. It Is in-| ferred from this that these carriers {have been obtaining a large share of | the Ford business. ! Routing Freight at Insue. The inquiry is expected to bring out many interesting facts on the | routing of freight via the D.. T. & 1. | It is a question whether the Inter- | state Commerce Commission would | have power to alter such routings, | | but the investigation, it is anticipat- { ed. will show how business is gotten | for the Ford road, and serve to prove | lor disprove charges made that Ford, {as a large manufacturer, uses his au- tomobile shipments to bring pressure to get freight for the D, T. & 1. Interest has been added to these questions Ly the figures on earnings for 1924 just made public. The re- port shows a total income of $11,995.- | 739, and a net operating income over | operating expenses, . taxes and un- collected revenue of $2.414,.859 for the ar. In 1920 Ford paid $4 a share for the preferred stock of the road, $2 a share for the common stock and 60 cents on the doilar for the bonds, a total investment of about $5,000,000. In the last two years the net income {from the road has been §4,201,583. H Ford's Amazing Record. When Mr. Ford took over the prop- erty three and a half vears ago the line had a gross income of less than $3,000,000 a year and was not making money. The employes of the road have been allowed to become stock- | holders and the. D, T. & I. certifi- cates held by them are now paying 12 per cent a year. Alteration of the present law would be necessary before any action could be taken with regard to the owner- ship of the D, T. & L by Ford. As it now stands the statute provides | merely against ownership by a rail- road of commodity-producing sources’ where all or art of the product is to be carrfed interstate commerce by the road. There is, however, a provision specifically excepting lum- ber and the manufactured products thereof. All the Interstate Commerce Com- mission can do is order an adjustment of rates for haulage in inter-road shipments if the divisions are found inequitable. But the proceedings may determine whether other manufac- turers will attenipt to follow the Ford lead or whether the carriers will 8PONsor a new regulation. in BALTIMORE PROVISIONS. BALTIMOR] Md., February 12 (Spe- cial).—Potatoes, per 100 pounds, 1.25 al.63; sweet potatoes, barrel, 2.50a 5.50; yams, barrel, 3.00a4.00; beans, hamper, a4.00; beets, 100, 8.00a 10.00; broccoll and kale, bushel, 50, 60; Brussels sprouts, quart, 20a3 bbage, ton, 25.00a28.00; Savo: bushel, €5a80; carrots, 100, uliflower, crate, 2.50a2.75; celer: . 2.5083.50; cucumbers, hampe 4.00a7.00; eggplants, 3.0086.50; lettuc 1.7582.50; onfons, 100 pound. oyster plants, - 100, - 8.00a ps, basket, 75a90; pea hamper, 3.50a4,50; peppers, crate, 25.00: spinach, bushel, 1.50; squi 3.50a4.00; tomatoes, crate, turnips, basket, 50a85. Apples, packed, barrel, bushel, 1.00a2.25; grapefruit, bo oranges, box, 2.75a4.50; « , quart, 35a45. DIVIDENDS. Period. Rate. leceo E'man Kodak. Do. ‘Foundation Do. 1. semer B Do, .ov. Lon, M & S Ry.. N'O T & L 6% vt Do. 7% Pf...... N Y Transit clecotece unduly | states|counts during the week ended Feb- | the preceding week | pound, THE EVENING 'STAR, WASHINGTON, D, BUSINESS DRAGS IN COAL MARKET Mild Weather Hurts Demand, But Aids Competition. Fuel Cheap in Ohio. Special Dispateh to The Star. NEW YORK, February 12.—Coal Age, reports the market today as fol- lows: Milder temperatures, accompanied by a slackening In demand, have gharp- ened competition in the bituminous coal market to such an extent that circular prices are slipping on some grades. On the whole, there Is not much change in_conditions in the Kentucky flelds, grine in some grades being counterbalanced by losses in others. In the West Virginia flelds overproduction of high-volatile coals I8 playing hob with prices, though all grades of smokeless are being quite readily absorbed at good prices. Competition Plays Havoe. Competition conditions in the Ohio markets have brought about a pe- cullar * situation, some producers swanmping the niarket with coal that almost hae to be given away, whhe ‘wthers take the more conservative ourse of keeping shipments- within | reasonable hounds and trying to | maintain prives. Lake buyers are be- ginning to show Interest and there is some prospect of rallway fuel busi- ness belng given out. Unexpected firmnes has developed In the New England steam market, prices holding steadier, less surplus tonnage belng in evidence and buy- Ing sentlment having improved. Lit- tle chungé I noticeable in New York and Philadelphia trade, but recent slight gaine are being maintained and the eutlook s siightly better, ome contracting having been re- ported, and more is in prospect. De- pressfon still reigns in the Balti- more market and no signs of imme- diate improvement are in sight Demand for anthracite continues on a fairly even plane, unmarked by any- thing out of the ordinary, and seems likely to continue so unless severe &torms should unsettle transportation. Chestnut {5 moving better than stove and brings the independents a better price. Dealers are buying only to fill current requiraments, expecting con- sumers to limit purchases to a hand- to-mouth basis during the rest of the winter. Conl Age index of &pot prices of | bituminous coal receded another point {in the last week, standing on Febru ary 9, at 168, the corresponding pr for which fs $2.03, compared with 1169 and $2.05, respectively, on Febru- | |ary 2 Activity at Hampton |varied little during the wecks, dumpings of coal Roads has last three for all ac- ruary § totaling 20 net tons, compared with 390,205 tons handled during the previous week Declines in Production. Production of bituminous coal, ac- cording to the Geological Survey, de- clined again during the week ended January 31, when 11,082,000 net tons was produced. This compares with jan output of 11,588,000 tons in the | previous week, as shown by revised | figures. Anthracite production In the | week ended January 31 was 1,730,000 net tons, a decline of 10,000 tons from DAIRY PRODUCTS. BALTIMORE, February 12 (Special). —Live poultry—Yeung chickens, 22a30; Leghorns, 21a26; Win- ©0ld hens, 18a24; Leghorns, 18a 20; old roosters, 15a18; capons, 32a38; oung turkeys, 40a45; old toms, 35; poor and crooked breasts, 25; ducks, 24832; geese, 22a26; pigeons, pair, 35 240, Dressed poultry—Turkeys, pound, 5a43; poor and crooked breasts, 25; chickens, 25a30:. old roosters, 18; . 25a30; geese, 20a25. gs—Receipts, 615 cases: and nearby receipts, dozen, 46, Butter—Creame. und, 35a41; prints 9; store packed, 2 . 33; rolls, 21a24; ter, 33; native : process dairy prints, 21 No grain quotations—grain market closed on account of holiday. FIVE RADIO COMPANIES ARE SOON TO COMBINE By the Asstciated Pre NEW YORK, February 12.—Organ- ization of the Federated Radio Cor- poration, a holding company, to ac- quire a controlling interest in five radio companies, including Rova Ra- dio_Corporation -and Equitable Radio Corporation, was announced late yes- terday. Other companies in the mer- ger will be Voluma Products, Inc.; Eureka Battery Co. and an unnamed cabinet company. L. T. McFadden, a president of the new corporation, said it would start business with $400.000 cash and no llabilities, in addition to its owner- ship of stocks in subsidiaries. The capitalization consists of 500,000 shares of no par value common stock, of which 200.000 shares will be. outstanding. = Public offering of the stock will be made shortly. What Experts Buy. Trained investors always buy curities that have a substantlal loan value. One of the surest methods of | determining the value of any stock 18 to seek a loan on it If your banker { declines to consider it as collateral i you can rest assured its marketability does not amount to much. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY DETROIT, February 12.—The Paige Detroit Motor Car Co. last vear sold Paige and Jewett cars to the amount | of $29.851,131. The schedule for the! first six months of this year call for production of 27,959 car: , Okla, February 12.—Six new wells added 4.932 barrels to ini- tial capacity in Kansas this week. Drilling is active in the Rainbow Bend district. Nineteen new wells were started in the State in the last | week. . MANCHESTER, N. H,, February 12. —The addition to the worsted dye house at the Amoskeag mills is now approaching completion. It is re- ported the company has recently booked some large worsted orders and that production will be increased. SPRINGFIELD, Mo., ‘February 12. —Peach ‘buds were not damaged by the recent cold snap .in this section. Unless there is a late killing frost a fine fruit crop is assured. ATLANTA, February 12.—The value tof live stock in Georgla was placed today ~at $100,000,000 by the State crop reporting service, an increase of 10 per cent as compared with & vear ago. The largest gains were made in the number of milch cows. PHILADELPHIA, February 12.— Neat but not gaudy is the way local shoe manufacturers describe _the style trend in women's shoes. They say wearing qualities will not count against beauty and eéxpect buckles and_trimmings to dominate the de- man FORD’S RAILROAD EARNS HALF COST OF ROAD By the Associated Press. NEW YORK, February 12.—Earn- ings of Henry Iord's raflroad, the De- troit, Toledo and Ironton, in 1924, ac- cording to figures made avaiiable here, were approximately half the amount pald for the property in 1920. Control of the road was acquired by Ford at that time for about $5,000,000. Last year's net operating income to- trled 92,414,000, an increase of almost $500,000 over 192 CRUDE OIL OUTPUT IN SMALL DECLINE Imports in December Ia'xger Than in Previous Month, Com- parisons Show. By the Associnted Press. NEW YORK, February 12.—~The daily average gross crude ofl produc- tion of the United States decreased 11.700 barrels for the week ending February 7. totallng 1,941,600, ac- cording to the weekly summary of the American Petroleum Institute. The Daily average production east of Callfornia was 1,346,100 barrels, a decrease of 10400 California pro- duction was 595,500 barrels, a de- creass of 1,300, Daily average imports of petro- leum at principal ports for the month of January were 238,065 bar- rels, compared with 211,839 for the month of December and for the week ending February 7, 237,000 barrels, compared with for the previous week. Daily average re- celpts of California ofl at Atlantic and Gulf ports for the month of Jan- uary were 78,258 barrels, compared with 89,032 for the month of Decem- ber, and for the week ending Febru- ary 7 79 barrels, compared with 53 for the previous week. There were no changes reported in crude oil prices for the major dls- triets. YOUNG WOOD LEAVES AMERICAN WOOLEN CO. Becond Resignation in Same Fam- ily Causes Surprise—8ilent on Plans. By the Associated Press. February son of William M. who retired on December 30 president of the American Woolen Co., has announced Lis own res- ignation from the vice presidency of the company. Beyond stating that he had resigned o that he might “carry out other ambitions,” Mr. Wood de- clined to discuss his reasons for leaving or hix future plans. He an- nounced that he would remain a mem- ber of the board of directors of the corporation At the time of the retirement of William M. Wood it was announced that his son would continue with the company, being moved from the posi- tion. of xecond vice president to be first vice president. The elder Wood, 12.—Cornelius Wood, st as | who was one of the founders of the | corporation and whose efforts were in large part responsible for its pres- ent scope, gave as his reason for re- signing ill health, from which he had been suffering for a considerable pe- riod He wae succeeded as president by Andrew G. Pierce of New Bedford, whose father years ago gave Wii- liam M. Wood, then the son of poor immigrant parents, his start in bu ness when he employed him in his tactory offices, DENMARK BANK TO GET $5,000,000 LOAN IN U. S. By the Associated Press, NEW YORK, February 12.—Nego- tiations have been completed by a local banking group for a loan of $5.000,000 to the Mortgage Bank of Denmark. A syndicate, headed by Brown Bros. & Co., will offer an issue of 6 per cent bonds early next week around par. The bank, which was organized in 1906 to regulate and control the real estate mortgage business in Denmark, ju owned outright by the state. The bonds to be issued here will rest on the general credit of the institution. ummmmmmumm.....m...mm..,.......né I Continental Trust Company Capital One Million Dollars 14th & H Streets FIRST MORTGAGES FOR SALE Denominations of $250, $500, $75), © $1,000 and upwards RUTNR District of Columbia JAMES F. SHEA 643 Louisiana Ave. N. :C.,, THURSDAY, FEBRUARY 12 APPLE RECERTS MODERATE HER Cauliflower and Beets Are Cheaper—Tomato Sup- plies Light. Today's market report of fruits and vegetables, compiled by the Market News Service Bureau of Agrioultural Economics, say Appl Supplies moderate; demand light, market steady; barrels, Mary- land, Virginia and West Virginia, A2l inches up, Staymans, 6.50a7.5 Yorks, 6.00a7.00; boxes, Northwestern, medlum to large sizes, extra fancy :\'meupu. 3.75a4.00; delictous, 4.504 Cabbage—Supplies liberal; demand slow: market dull; old stock, New York, bulk, per ton, Danish type, mostly around 35.00; new stock, Flortda, 1%-bushel hampers, round and pointed type, 1.75a1.80; tew 2.0 ordinary quality, 1.50; Taxas, bulk, per ton, flat type, best, 60.00a65.00. Celery—Supplies moderate; demand | prida, 10-inch | light, market steady; crates, large sizes, 3.00a3.25; small sizes, 2.50a2.75, Lettuce—Supplies moderate: demand moderate, market steady; California, Imperial Valley, crates, Iceberg type, 6 dozen, 4.00a4.60; 5 dozen, 4.50a4.75; few 5.00; 4 dozen, mostly around b. Florlda, no sales’ reported. Onfons—Supplies light; demand light, market steady; New York and Ohio 100-pound sacks, vellows, U. S. No. 1, medium to large sizes, mostly around 3.50; slightly dccayed, 3.25. Potato Market Stea Potatoes—Supplies liberal moderate, market ichigan 150-pound sacks, Russet Rurals, U. S No. 1, 2.50a2.60 per sack: New York 150-pound sacks, Round Whites, U. 8. No. 1, mostly 2.50 per sack. Spinach—Supplies moderate; mand light, market steady; Texas bushel baskets, Savoy, 1.50at.75; most- ly, 1.65; Virginia, Norfolk section, cloth-top veneer barrels, Savoy, fair quality, '3.25, Tomatoes—Supplies very light; de- mand moderate, market steady; Flor- ida sixes, ripes and turning, wrapped, fair quality, fancy count, 5.00a6.0 choice count, 4.00a5.00; some poor con- dition lowe Cauliflower—Supplies liberal; d mand light, market slightly weake California crates mostly arcund 2.30. Strawberry Sales Light. ring beans, peas, cucumbers, egg- plant, peppers—Express receipts lat supplies very 1ight; no sales reported. Strawberries—No supplies on early market: few later sales; demand good for good stock, market steady; Flor- ida, pony refrigerators, best. mostly 50: fair quality, 40a45 per quart, 25 per pin Carrot moderate, de- demand Texas, Supplies Itberal; market stead bushel baskets, 1.75a2.00. Beets—Supplies moderate; demand moderate, market slightly weaker; Texas, bushel baskets, mostly 2.75. FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F St JOHN POOLE, Prusident :The Force That Produces | | Good Will 1s lntegrity—k‘ 'to Which Must Be Added Satisfactory Service— | 7 We have earnestly striven | | through _all the years of our | operations to make these es-| | sential characteristics the bone | jand sinew of our business in !every department. i | That we have succeeded fs at-| |tested by the GOOD WILL ot | thousands of patrons who have| | placed all their investments, through us. | Yeu may join this noble army of | | satisfied clients in full assurance that we have never lost a dollar for| | an investor. Consult our Mortgage Investment| Department for details about ouyi 6149 Notes| BHANNO & LUCHS_] 713 and 715 14th Street N.W. Main 2345 7% FIRST MORTGAGE Invest your funds in the 7% First Mortgage Bonds of the Rosslyn Steel & Cement Company. Real estate security in excess of twice the amount of the mortgage, plus management by these successful Washington business men, insures safety of principal and prompt payment of interest. Federal-American National Bank, Trustee C. T. Kingsbury, President. Gratz B. Strickler, V.-P. & Manager. William T. Galliher, Treasurer. Chairman of Board, Federal-American . National Bank. Burns C. Downey, Secretary. Gen. James A. Drain, Director. 2% Income Tax paid at source National Commander, American Legion. Frank L. Wagner, Director. Builder. Call, Write or Phone for detailed information. Deferred EARLL & BATT Investments Insurance Bldg. Tel. Main 872 Payment Plan, if desired. (Date) ... Earll & Batt, Insurance Bldg. Please send detailed information regarding 79 First Morigage Bonds of the Rosslyn Steel and Cement Company. | | | | | FINANCIAL FINANCING Ann-ms VZ % Business Houses Property Unlimited Funds Available FRED T. NESBIT | Investment Bullding 1925. Money to Loan Secuted by first deed of trust on real estate Prevalling intorest and commiss.on. {Wh L. Weller 20 wash. L. & Troat Bldg., 9th & ¥ Guaranteed First Mortgage Loan Applications Wanted Interest Rate €9 and 6%2% Apply Loan Dept., C. L. O'DONNELL, Mgr., CHAS, 'D. BAGER, e Reaitor, 084 14th Bt. N.W. Wanted—Position Mortgage Loan Dept., Bank, Insur- ance Company or Real Es- tate Office. Fully e: mortgags full “charge o Will Submie 6%2% First Trust Notes Real Estate Mortgage & Guar- anty Corporation 26 Jackson PI. N.W. Guarantees its first trust notes as to payment of interest when due and principal at maturity of note. FROM $50 TO $100 £an Be Obtained by Using Our Certlficate of Inventory, Appraisal and Title. CHATTEL TITLE COMPANY 205 Fifth St. N.W. ced_in_every detail ble_ of of Address Box 117.V, Star Office. The Place to Go for Your Loan Money Available On approved Real Estate Security, Residential, Business. FIRST MORTGAGE LOAN DEP'T McKEEVER & GOSS 1415 K Realtors M. 4752 Virginia Loans (Reasonable Brokerage) Approved Residential and Business Properties LOAN DEPT McKEEVER & GOSS 415 K St. M. 4752 Denominations $100 $500 $1,000 Resources Over $2,000,000 L. E. BREUNINGER, Pres. Smith Bonds are Safe Bonds Fxr‘rv.'rwo years of proven safety--of prompt payment of principal and interest--are be- hind the first mortgage invest- ments sold by The F. H. Smith Company. Every bond we offer is protected by the system of safeguards re- sponsible for this 52 year record. Every bond is secured by an ab- solute first mortgageonimproved, income-producing city property. SMITH BONDS are 77 soldin $1,000,$500 and 05100 denominations, outright or under our Invest- mentSavings Plan. Every partial payment carns the full rate of bond interest. FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF 500 DOLLARS AND UPWARDS Rundit S Hopron ¥ % 7827 Connecliont Svsnne No Loss to A The F. H. Smith Co. Founded 1873 FIRST MORTGAGE BONDS Smith Building, 815 Fifteenth St. THE F. H. SMITH COMPANY Smith Building, Washington, D. C. Please send me § tion about Smith Bonds paying 7% Investor in 52 Years To Achieve the success that is vour heritage requires not orly assiduous application to your daily task—it entails a systematic plan of saving as well. Name . Financial Independence is the reward of the man or woman who links well- considered investment in solid securities with regular banking habits. He or she is assured of comfort in the declining years. Invest YOUR Savings Wisely in thoroughly protected securities such as the First Mortgages offered by Swartzell, Rheem & Hensey Company and increase the earning power of your capital. The interest rate—61% per cent per annum —doubles the value of your investrent every eleven vears. Fhe Bymbol A Gibraltar of strength. An attractive purchase plan Yielding 79 interest on the day due. Our First Mort- gage Investments may be purchased in amounts from $50 up. SWARTZELL RHEEM & HENSEY C0. = R~-5%8reet. N\W Dashington.D.C. Consult Our Trust Dept. or send for Valuable Booklet. Vs ; Goldemith Balding” 55 Years Without Loss to an Investor 1405-7 Eye StN.W, M 9670 An Ideal Investment WHEN you are seeking an investment for the money you have accumulated through hard work, sacrifice and thrift, it is quite natural that you should turn to a security which offers abso- lute safety and substantial interest return. The Preferred and Cammon Stock of the Mortgage Bond & Guaranty Corporation provides these elements so essential to an ideal investment. The Corporation deals exclusively in First Mortgages, secured by improved, income-producing real estate. It is recognized as the safest field of investment known. The management com- prises a group of bankers, real estate and business men of excel- lent character and high standing. They all enjoy unbroken rec- ords of success, and their expert knowledge is especially adaptable to the conservative and profitable management of the Corpora- tion’s business. The Cumulative Preferred Stock bears an immediate return of 8%. The dividends are free from the normal Federal income tax, and the stock is free from the D. C. and Virginia intangible tax. We welcome inquiries as to the plan of partial payment pur- chase of stock in this Corporation. HUGHES &' COMPANY [~ Incorporated HUGHES & COMPANY 1418 Eye St. N.W., Washington, D. C. INVESTMENTS ” g C » 833 . Please send me your mew descriptive book- g let, “P; R 1418 Eye St. N.W. Telephones Main | 838 § =~ o ; 3317 Name . i Street Address