Evening Star Newspaper, February 26, 1925, Page 29

FIN ANCIAL. BEEF IS BIT HIGHER AT CENTER MARKET Butter and Eggs Remain Steady—Cahbage Sales Continue Very Slow. remained Center Mar- live stock were ale Prices. prints, ndled, 32a Spring : ducks, ; Bee: Spring ; fowls, 10a4 ; geese, 13a14; lambs, ock—Calves, thin 9% veal, loins, 25 choice, 8a hogs, 10a 14a16 15a1 arket report on frujts and led by the Market wu of Agricultural 20 hams, Bu 3) says demand Mary- irginia, 6.50a- A2ly some inches up, inches up, boxes, Supplies limited; ady; barrel West Twigs, supplies light, w stock—Sup- d light, market hel hampers, 50a1.75; some falr bulk per hundred- es direct to re- tail Ce 1} light; demand moderat ady; Florida, 10- inch crat dozen, 4.00a4.25; stly dozen, 3.50a4.00 tt moderate; de- ket steady: crates la, Tmperial 5 dozen, few 5.00; hampers Big Bos- quality, 2.00 ies moderate; demand market steady; ew York 100-pound sacks, yellows, 1, medium to large sizes, 8 to 10 yplies Potato Market Steady. Sup liberal; demand | arket steady; Micl d ¢ rursls, 2. few low as 2.15 150-pound sacks, No. 1, 2.10a upplies liberal; demand ket about steady; Tex- 1.00a1.25; 3.00. de- steady pes and turning, fancy count, 4.50a 102450 upplies limited : market steady inary g sack; Ne nd whites, T 25; arket Cauliflower— mand moderat de- Ca ality, squash, cucumbers, ly no supplies on the no sales reported nt—Supp! light mar steady 1.50a5.00; 1Is demand Florida, | light; demand fairly steady; Isle s, fancy, 6.00; 00a4,00 ght; de- ket firm; Flori- . D 40a50; mostly per q rot moderat te es moderate; demand market steady; Texas, good stock market ts, or- crates, steady; Florida, bushel dinary qual 1.50; good q o4 celery FRESH ASPARAGUS ARRIVES FROM WEST Weeson’s First Shipment Wholesales at $25 Per Dozen Bunches in New York. Hpecial Dispatch to The Star. NEW YORK, February w York market toda first c load of the s psparagus from Jossal offeri 26.—The d the fresh receiv ason of California. ed at from $ 10 330 per dozen two-pound bunches, while the small stock sold down to $11. Barreled apples greenir e gra were firmer, s bringing $8 to $8.50 aldwins, $7.25 to § op white o scant to $15 cabbage attention per ton continues jobbers for bulk ST. PAUL RAILROAD MAY AVOID RECEIVERSHIP By the Asso NEW YORK, Wal reet attaches significance to the ex- ted arriv New York today of am, president of the Chi- 1kee and St. Paul Rallway in view of possible developments for refunding the road's $48,000,000 ma- turities. A feeling prevails in bank- ing circles, it is sald, that owing to the improved conditions in the rail- road field it will be possible to devise a plan which a receivership may be averted ed Press February What £xperts Buy. Trained investurs always buy se- curities that have a substantial loan value. One of the surest methods of | determining the value of any stock is to seek a loan on it. If your banker declines to consider it as collateral you can rest assured its marketability does not amount to much. PLANTS LESS ACTIVE. NEW YORK. Febru tions of subsidiar States Steel Corporation this week ve declined to about 93 per cent, compared with 96 per cent last week. Incoming orders for the first three weeks of February were reported to | have been larger than shipments, in- @ications being that the unfilled ton- rage statement for this montito be published March 10 will show & mod- -ate gain. Heavy demand from the raflroads for and accessories continues. PARIS MARKET UNSTEADY. PARIS, February 26.—Prices moved frregularly on the Bourse today. Three per-cent rentes, 48 franes 10 centimes. Exchange on London, 92 v 26.—Opera- of the United BY WILLIAM F. HEFFERNAN. EW YORK, February 26.— The price movement on the curb exchange today was unmistakably upward, but again it was a case of the bidding up of a few selected specialties, Buy- Mg of motor shares reflected the belief that Spring demand will be unusually heavy. Cleveland Motor, above 20%, was up more than a point from last week's close. There was a similar advance in Stutz, Official denial that negotiations had been completed for the merger of Glen Alden Coal and Delaware, Lack- awanna and Western' Coal checked the, advance in the former stoc Kelvinator was carried to a new high record well above 24, where it com- NEW YORK, February 2 ing is an official list of stocks traded In on the Curb market today Sales in BONDS, thousands 1 Allied Packers Ss... 8 Alum 7 R —Follow - bonds and New York Am Beet Suj 3 Am Ice Tx Am Pow &'I Am Rolling Mills 6s 4 Anaconda Bs..... & Anglo-Am O3 Tigs. . AtG & W T8N bs 2 Beaverboar 10014 10614 053y 10115 10815 10015 693 Daiy 10375 L 1104y it Serv Po & Lt 6% Qun Gas Balt 5ias B Cons Gas Balt ts A 15 Textiles K 2 Detroit Edison 3 Dunlop Tire & Fed Sug Galr, Hobt 7 Gen Pet 6s. ... ant Trouk 635 6 Gulf Oil Corp ’. 9 Lehigh Pow 6s 1 Liz Wi Lig rl s 78 10 Mani Pow: 7n 4 Mo 38 s Pub Ner 5 tes Pow Blos v Min 6% 8 Ohio Power s § 4 Penn Power & Lt 58 2 Pennock 0l Corp s yssen Works\ 7x Union Oil 65 B '26.. Union Ol P ¥ 5 City of Bogota 8s 16 R R of Fr 9 French National 1 1n Mtg Bk of Fin s 2 King of Neth 65 '54 13 Krupp Fi 1 Rep of R Russ Govt 6 42 Russ Gy 6% 7 Solvay & Co . 94 100 17 143, 10215 . 1015 1003 0 0615 ISSUES, Swiss Govt Bs:. 5 Siomens Hske 7 5 Siemens Hske 7s '33 in STANDARD OIL ntic Lobos PL. reka P I . ) Gal Nig Ol pf old.. 112 ig Oil pf new 105 Transit ..., 10 Northern P L 500 Ohio Oil : 1100 Prai Ol & Gas new 30 Prairie 230 South Pe 30 Sout 10 Son W 12100 8 O Ind 1008 0 K 300 § 0 Kentueks N0 S O N Y 1100 Vacuum 0il Sales IND in bundreds. 601 t Peun P L it Serv . : ities Bervice pfd 6 Clties St 8,000 Cit Serv © i11 Calox Synd ... Washington Stock Exchange. Capital Traction Co.—10 at 8235 10 at 921, 1 at 921, 4 at 92 Wash. fiwy. & Elec. com.—10 at 101% at 1018, 30 at 101%, 10 at 101%, Merchants' Bank and Trust Co Lanston Monotype—5 at 80, 80,10 at 0, 10 at So. AFTER CALL onal Mtge. & Tov. pfd.—30 at 9%, h. Rwy. & Elec Merchants’ Bank and T 5 at 92, 10 10 at' 102 10 at 135 10 at 80, 5 at 50 Pra.—1 at 81 Trust Co—10 at 1341 » D DEPT Chapin Sacks 8¢ pfd.—5 at 96, Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS, PUBLIC UTILITY. 4s. Bid, Asked. iy 111 100% Fa Anacostia & Potol & P. Telephone o C. & P. Telephone of Vi pital’ Traction R. R. B City & Suburban 5s Georgetown Gas_1st 5 Potomae Elec. 1st 55, Potomac Elec. cons. b Potomac Elec s 1938.. k Pot. Elec. Pow. g m, & ref. Ts. Alex. & Mt. Ver. B8.... Alex. & Mt. Ver ctfs Balt. Wash. Rwy. & Elec. MISCELLA D. C. Paper 6s... Pot. Joint Stock Td. Riggs Realty os (long). Riggs Realty 5s (short outhern Bldg. 814s. wash. Mkt. Cold Stori Wardman Park Hotel 6s.. STOCKS. PUBLIC UTILITY. | American Tel. & Telga. Capital Traction. Washington _Ga Norfolk_& Wash. Bteamboat. Wash. Bwy. & Elec, com. ash, Rwy. & Elec. pfd. Terminal Taxi com. NATIONAL BAN National Capital. cond Nitlonsi Bank of ‘Washis TRUST COMPANY. Becurity & Trust. 1 ican Ampre Trust rust . i Washington Loan & Trust. SAVINGS BANK. Washingtoa. rty Ruvings & Com. Seventh _BStreet. Uniieg Btates. Washington Mechanics’ FIRB INSURANCE, East American . Corcoran i iremen’ National Union TITLE INSURANCE. Columbia_ Titie 7% Real Estate Title 135 Merchants' Transfer & Storage. l),o Mergenthaler by 1 i Natioual Mtg. "3 0ld Dutch ot com. ; ©Old Dutch Market -pfd Lanston Monotype. ... francs 60 centimes. Five per cent Joan, 67 trancs 30 centimes. The dol- Jjar was quoted at 19 francs 49 cen- mACE Security Btorag Seashington Market Yellow C: *Ex dividend. "loss of 3% THE EVENING STAR, WASHINGTON, D. C, THURSDAY, FEBRUARY 26, 1925 pared with the subseription figure of 16. Reports concerning slaes and the outlook for the future are high- 1y favorable. Continental Baking stocks continu- ed in demand at advancing prices, responding to the recent announce- ment of a new baking combination. Declaration of a 4 per cent dividend in stock in addition to the regular quarterly disbursements on Chflds Co. shares was again reflacted in a further sharp advance in both stock and bonds. With the annual report of the Hazeltine Corporation out, heavy of- ferings carried the price down for a points before selling was completed 90 Continental Oil ... 19 Creole Synd ... ineers Pet . '»gm 01t Corp 104 of Pa by Pet Tago Pet 5 Latin Amer Ofi L1 Lance Creek -. Mex 01 2 3 Mex Punico - Mount Prod ... New Bradford Oil.. 2RO Ohio Fuel Cor 3 Pennok. 01 Cor Red Bank Ofl ... Toyal Oun 01 & T Ryan Con ........ salt Ck Cons .. Saie Ck Prod ... Tidwl Osage Oif United Cent OIl ... Veneauclan Pet. . Wilcox Ol & Gas. Woodley Pet INDUSTRIALS. Adironduck Power. . Allied Pack new 2 Am & El new Am L & Tract ... Am Pow & Lt new Am Power & L pfd Ariz Pow & Light. Armo'r Co A vt wi Armo'r Co B vte wi Armour & Co pfd. Atlantic Fruit.. Borden Co Botany Con’') Bolwsonault Brit-Am Tob Bkiyn City R R. n Con Bak pfd. 2 Con Tab Ine foneCs 50 1S Cub To Co'yt tr cfs De For Ra Co v t ¢ DL & Co Do Die Cust Co... Dub € & Rad Dunbill Tnt Inc Dur Mot Dos 09 A hiss Elec Bond & 8h pfd Elec B & 8 new cor Elec Investors Ine. Electric Ry Recur.. Federated Metals T Firestone T 7s pfd Ford Motor (o Can Freed Eisem Freshman rod i ® o0 SO - RO - n Outd'r Adv yte Gillette 8 R...... Glen Alden - Goodyear P eltine Corp 6 Hayden Chemici Ry Int Mateh Corp pfd Jones Radio. . 2 Keystone Solether. Kelvinator ...... Landover Hig (n' A Lehigh Val Coal Tehigh Val Coal NG Lib, MeN & Liberty Rad (! Marconi Tel Co Mengel Box . Middle West U Music Master 3 Motor Wheel Co nw Nat Pow & Lt..... Nat Tea Co........ N'Y ‘el Co pfd . ickel Plate new wi ickel P1 nw pt wi Nor St Pow Co wrts Oppenheim Collins . Paige Motor ...... Prophylactic ‘Brush. Pyrene Mfg . 5 Reo Mot Rosenb Gr Cor pfd Rova Radio Oor t ef 5 Beagrave g leeper Rad Cor vie 80 O & I new Southern Cal Edisor Spear wi . G Stutz Motor wift Intl . Swift & Co renn Bl Pow rmiod. Thom Radio Cor vte Tower Mfg ... United Pft Sbar .. 9 Util Po & Lt Cor A 243 U States Gypsum Co 117 S Lt & Heat ... 1 Ware Radio Corp.. 231, 5 Warner Bros P A wi 1814 Western Power 34 Western Fower pfd &7 Wh Rk M & nw vie 168 Wickwire Spen St wi 5 MINING. Arizona Globe Cop.. Beaver Cons 31 35 Canario Copper Ching Ext Mines Forty Nine ) Goldfield Develop. Harmill Divide. Hawth Mines Iu¢ Hecla Mige.... Howe Snd new vt Independence Lead Jib_Cons. Kay Copper Corp. Onio Cop ... Ply Lead Mines Re Booth Min. . Re Ke Min.... Spear Gold ... n Sil Lead. .. ess Mines . Tono Bel 3 Tonopah North' Star TUnited Eastern Min. United Verde Bxt 0,3, Continental 3 Walker Mining . Wenden Copper . West End Consol West End Ext. Jtah . GETS VIRGINIA CHARTER. Railroad in Big Merger Is Given Operating Rights. RICHMOND, Va., February 26— The New Yorlk, Chicago and St. Louis Railway Co. has been granted a char- ter by the Virginia Corporation Com- mission. The charter was issued in connection with the consolidation of that road with the Chesapeake and Ohio, the Hocking Valley, the Erie and the Pere Marquette s: OIL SECURITIES SLUGGISH. NEW YORK, February 26.—Condi- tions in the oil trade are reported to be continuing favorably despite the hesitancy in the market for oil ge- curities. Demand shows no slowing up and recent substantial price ad- vances, averaging about $1 a barrel on crude oil and 6 cents a gallen on gasoline, are causing various ecom- panies to show improvement'in cur- rent earnings compared with a year ago. DIVIDEND DECLARED, NEW YORK, February 26—The Symington Co. declared a dividend of 58 cents a share on the class A stoek, ayable April 1 to holders of record Rfarch 13. This represents § cents a share for the period December 17 to December 31, 1924, and the regular quarterly payment of 50 ecents, RPARE P R Out of a population of.47,747,100 in ®ngland at the end of 1923, fe- males outnumbered 1,917,926, MANY NEW STOCK PLACED ONMARKET Gould Coupler and Natiohal Pictures Put Out New Issues Today. By the Associated Press. NEW YORK, February 26.—Offer- ings of new stock today included 175,- 000 shares of the Gould Coupler Com- pany participating class A stock of no par value at $25 a ehare, each share in addition carrying one-quar- ter share of common stock, and 32,- 500,000 First Nati®nal Pictures, Inc., cumulative and participating first pre- ferred stock at 100 and accrued divi- dends, yielding 8 per cent. A new issue of 35,000,000 United Light and Power Company 5% per cent gold notes, due in 1928, also was mar- keted at 99 and accrued Interest to yield about 5.80 per cent. Stockholders of New York Canners, Inc., will vote March 17 on a proposed offering of new common stock at $28 & share, on the basis of one share for every five held. This will increase the ~outstanding stock to 123,600 shares. Net income for 1924 was $894,104, equal after preferred dl dends to $6.64 a share on the common against $543,905, or $6.29 a share, in 1923, Gross sales for the year wete $12,265,150, & gain of more than $400,000. BIG MOTOR COMPANIES LINKED IN MERGER TALK By the Associated Press. NEW YORK, February 26—Motor merger talk bas been revived in the financial district owing to the arrival in the city of officfals of various com- panies mentioned in the deal. Strength of motor shareg yesterday added in- terest to the report, one version link- ing Briggs Body Corporation, Pack- ard, Hudson and Dodge in a consoli- dation. Bankers and officials of these companies have declined to discuss the report. JEWEL TEA’S BEST YEAR. Highest Earnings Since Pre-War Period Reported Today. NEW YORK, February 26.—Net profits of the Jewel Tea Company in 1924 reached $855.076, the highest the company has shown since the pre- war period, equivalent to $23.49 a share on the preferred stock on which no dividends have been paid since Oc- tober, 1919, Balance after allowing for the annual 7 per cent preferred dividend is equal to $5 & share on the common, compared with $3.07 a share in 1923." Profit and loss surplus was $654,665 in contrast to a deficit of $200,520 the year before. PHONE STOCK POPULAR. BALTIMORE, February 26 (Spe- cial).—Chesapeake & Potomac Tele- phone Co.’s 7 per cent preferred stock is being steadily accumulated, accord- ing to local brokers. This stock was floated a few years ago without the aid of bankers and was sold direct to the public at $100 a share, or about $12 a share under current market price. At the prevailing quotation the net return on the stock is 6% per cent. DIVIDENDS. Stoek of Payable. record Mar. 31 16 Apr. Apr Apr. Apr. Adams Express.. Am. Tob. pf. Borne-Scrymser .. #0020k ;ccbc:,o 2 I Bratarith s £ Cotton Belt pf.. Central 111 "Pub. Service pf..... Fulton Trust..... Do.... Z Gen. G.&E. pf. A Do. pf. B. Bell Tel. Kaufman Dep. Mich Sugar Montana ' Por &8 PR ) 25 ._.,._.. 41 tdetd et B¥isizsas = & Sec. Cor. 1st pf Pett-Mull 1st pf. Do. 2d pf.. Pure 0. 53% Df. Do. & Pf..... It tetet=t=ted 22388338 L TSRO COLOLRLOE £LOLHELOLLEL £O i mnman Tor Un 2, z ion Ol Assa.. Werth Pmp pt. X Do. pf. B.... . W. Coast Oil Co. Apr. Apr. Apr. cce ) 8= 8% onnBa { GERMAN STOCKS AND (Quoted in dollars per million £ LBERLERIBE S niR R ab b B 138 pre-wai Ger Gen Elec 4148 1919, Berlin 48 pre-wa Hambg 35, 8348 & 45 pre- Hamburg Amer Line 41 North German Lioyd 45 North German Lioyd Prussian Consols 8% Krupp bs 1 Dusseldort Frankfort Disconto Deutsche Bank Darmstaedter Banl Mercur Bank Vienna. 28823823228 23833k 223 First Mortgage Real Estate Bonds Booklet on Request Bay Crest Hotel Co., Inc. 912 15th St. N.W. First Mortgage Bonds On Income-Producing City Prop- erty of General Utilization— The highest type of investment known. Now Offering: 20-Year 6146 % Sinking .F‘,“d Gold Bonds, Roger Williams Apart- ments, Providence, Rhode Island. Union Discount Company, In NEW YORK \ Philadelphia, Bos VIRGINIA COUNTY LEADS IN IMPROVING STOCK Mors than 1,600,000 head of breed- ing stock on farms in the United States are undergoing systematic im- provement through the use of pure- bred sires, according to a report just issued by the Bureau of Animal In- dustry, Department of Agriculture. Ohio, Kentucky and Virginia each haye more than 2,000 farmers en- rolled in the ecampaign. Largely through the activities of county ex- tension agents, 40 countles in 9 States each have the distinction of possessing 100 or more livestock own- ers who are using pure-bred sires ex- clusively in all their livestock breed- ing operations. Pulaski County, V: leads the list with 592 such breeders, and Union County, Ky., is second with 457 participants. 79 CONVENTIONS AID TRAVEL TO FRISCO Tourist Business Already Over 20 Per Cent Heavier Than Year- Ago Now. Speeial Dispateh to The Star. SAN FRANCISCO, February 26— Tourlist travel to California already is estimated at 20 to 30 per cent heavier than for the first two months of 1924. Travel will be still further augmented by the fact that 79 national and re- gional conventions will be held here, while the large conventions in the State will exceed 150. ST. PAUL, February 26—Special Summer tourist rates for passengers from the Pacific Northwest have been announced by the Great Northern raliroad. The usual west-bound tourist rate of a fare and a half for the round trip has also been authorized RAIL EARNINGS IMPROVE. NEW YORK, February 26.—The Maine Central Railroad reports a def- of $24,656 for January, against 5 January, 1924 anuary was a profitable month for Pere Marquette Railway, net op- me of $549,708 comparing with $226,775 a year ago. Surplus after charges increased to $441,634 from $177,592 in January, 1924. the erating in FIRST MORTGAGES FOR SALE Denominations of $250, $500, $750, # $1,000 and upwards 6Y2% All Loans Made on Property Located ip the Distriet of Columbia JAMES F. SHEA 643 Louisiana Ave. N.W. 'FINANCING Unlimited Funds Available FRED T. NESBIT Investment Bullding . “WHEN” buying our FIRST MORTGAGE 612% INVESTMENTS sured due precaution has been feguard your interest our Prompt and courteous serivee follow the purchase of our securities. Notes now on hand in amounts of $100 up. o Send for Booklet CHAS. D. SAGER * Loan Department 38 M. 37 as 924 14th St. N.W. Mr. O'Donnell, Manager Mr. Hughes, Assist. Money to Loan Secured by tirst deed of trust on ;ll f‘ul! 420 Wi Biae. S0 strict & F NW. We Have For Sale a Limited Number of First Trust Notes Bearing Interest at 7% Secured on Negv, High-class Residential Property in Chevy Chase, D. C. Denominations of $250—$500—$1,000 Toan Dept. Mcxzma-aooss (rmreser s e REALTORS 1415 K St. Main 4752, In 48 States and 30 Foreign Lands every State in the Union, and in 30 countries and terri- tories abroad, investors now have the perfect satisfaction of Smith service and the proven safety of Smith Bonds. Our first mortgage investment record--no Joss to any investor in 52 years--has resulted in world-wide recognition of the fact that ‘‘Smith Bonds are Safe Bonds.”" 2 SMITH BONDS are 77 soldin $1,000,8500 and Osma enominations, cutrl!:st or under our Invest- mentSavingsPlan. Every partial ¢ payment earns the full rate of ‘bond interest. fi-uud:z]m:” vfi The F, H. Smith Co. Founded 1873 FIRST MORTGAGE BONDS Smith Building, 815 Fifteenth St. THE F. H. SMITH COMPANY 1 CRUDE OIL OUTPUT GAINS DURING WEEK Daily Average Imports Show Marked Decline Over Previous Week. By the Associated Press. NEW YORK, February 26. — The daily averege gross crude oil produc- tion of the United States increased 12,600 barrels, according to the w ly summary of the American Petro- lsum Institute. The dally average production 1,345,800 barrels, an increase of 8800. California production was 601,800 bar- rels, an Increase of 3,700. Dally average imports of petroleum at principal ports for the week end- Ing February 21 were 163,000 barrels, compared with 191,714 for ghe pre- vious week. Daily average receipts ot California oil at Atlantic and Gulf coast ports for the week ending Feb- ruary 21 were 63,429 barrels, com- pared with 47,571 for the previous FROM $50 TO $100 Can Be Optained by Using Our Certificate of Inventory, Appralsal and Title. CHATTEL TITLE COMPANY 806 Fifth St. N.W. of Putegrily The stairs leading uprard to financial sndependence are made of safe First Mortgage Notes. Start Today You may purchase our First Mortgage Notes in amounts of $50 up by monthly payments. Your investment earns 7% in- terest. Consult Our Trust Dept. or send for Valuable . Goldsmith Building” ™ 1405-7 Eye StN.W,, M 9670 east of California was|| greater service greater business We are grateful to the public for recognizing and appreciating that the ele- ments of afety” and “service” have been the foundation of our Mortgage Investments, and have ac- cordingly rewarded us with “greater” and ever-increas- ing patronage. We would like to explain our service policy to you and show how your money can be absolute- 1y safeguarded and still earn 613 %. Mortgage Investment Department HANNON - & LUCH 713 and 715 14th St. N.W. Main 2345 real estate. known. of 8%. tax. paid in. HUGHES & COMPANY" Incorporated, INVESTMENTS 1418 Eye St. N.W. Telephones Main FINANCIAL. —_— e Y O Oy — NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office RAIL INCOME IMPROVES. | BALTIMORE, February 26 (Spe-| clal).—Net railway operating income | of ghe Maryland and Pennsylvania Railroad Co, totaling $18,563, dur- ing January’ showed an increase of $6,862 as compared with the first month of 1923, Operating revenue, amounting to 375,920, was $13,513 greater than during the correspond- ing month of 1923. Net operating revenue amounted to $27,206, a gain of $9,93 FEDERAL-AMERICA NATIONAL BANK RESOURCES, $14,000,000 1315 F St. JOHN POOLE, Presidest Offices for Rent Reasonable Saul Building 925 15th St. N.W. Ready for Occupancy B. F. SAUL CO. Main 2100 925 15th FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF 500 DOLLARS AND UPWARDS Randall H. Hagner ¥ G 1821 Conneclivat Senus Molding Your Destiny You, alone, must plan your own destiny. Molding one’s destiny is a work that goes on and on. Young or old—a man’s progress depends upon himself. Success today does not insure against failure to- morrow. Nor does failure in the past prevent success in the future. Our 614 % First Mortgage Notes, secured by improved Washington real estate, are an investment nucleus about which inde- pendence, success and happiness gather. These notes are safeguarded by conserva- tive valuations and reinforced by contin- ually increasing equities. Sw LL.RHEEM ¢ HENSEY (0. fln;fi 'Sreer. NW shin‘éfon.D.C. 55 Years Without Loss fo An Investor Choosing Your Investment IN choosing a security for investment, you seek a high margin of safety plus adequate return for your investment. The stock of the Mortgage Bond & Guaranty Corporation combines both’ of these factors. The Corporation deals exclusively in First Mortgagges, secured by improved; income-producing It is recognized as the safest field of investment The management comprises a group of bankers, real estate and business men of excellent character and high standing. They all enjoy unbroken records of success, and their expert knowledge is especially adaptable to the conservative and profit- able management of the Corporation’s business. The Cumulative Preferred Stock bears an immediate return The dividends are free from the normal Federal income tax and the stock is-free from the D. C. and Virginia intangible You may purchase this security on an attractive partial pay- ment plan. There is no interest charge on deferred payments, and the regular preferred dividends are applicable to the amount Céll, Write or Telephone for Detailed Information HUGHES & COMPANY, 1418 Eye St. N.W., Washington, D. C. Please send me your new descriptsve booklet, “Progress.” 853 Street Address ..... Cci