Evening Star Newspaper, April 18, 1925, Page 23

FIN TURKEYS CHEAPER " INLOGAL MARKET Usual After-Easter Drop Now in Effect—Calves Also Lowered Today. One-half cent drop in the price of ealves and a drop of several cents in the price of turkeys were interesting features of the market for the week end Turkey prices alw st er the Easter holiday season, re. marked a dealer this morning. ‘‘and this year's prices have taken the usual drop.” ,l‘:e turkeys were quoted at from 28 to 35 cents today. dressed stock Lringing 35 to 40. say frozen stock is particularl tive at this season. Spring chickens are in fairly good demand, but_prices are so high that | buyers are iaking only small pur- chases. Springers from nearby Mar and and Virginia are in splendid co ition, live ones selling at 55 and 60; ed stock bringing 70 and To. ozen Spring chickens from the West are quoted at 40 and 45, and dealers say their good condition makes the demand fairly brisk. Today's Wholesale Prices. prints, s drop just aft- Butter—Fancy, Bis store pac gs—Fancy, selected, candled, 30; average receipts, ! Poultry—Alive young Winter chickens, 18, 28 geese, 15a20. Dri killed Winter chi rosters, 19a fowls, 35a40; a capons, 40a45. Live stock—Calves, choice, Vmedium, 10all; thin, 8 Spring, 13; live hogs, 13a1314. Meats—Beef, 17al18; veal, 27: hogs, 2013a21; loins, 30a 28a30; shoulders, 19a20. Fruit and Vegetable Review. Today's market report on fruits and vegetables (compiled by the Market News Service, Bureau of Agricultural iconomics) says Asparagus—sSupplies light: demand moderate, market firm: South Caro lina, dozen-bunch crates, very large size, 4.0024.50, few 5.00: medium to large s 3.00a3.50, few 4.00; small size, 2.00a2.50. | Cabbage—Supplies liberal: demand | moderate, market steady: South lina, barrel crates, Pointed type, 2.40 Celery—Supplies + moderate, lamb, hams, limited: arket steady: inch crates, 4 to 6 dozen, . few 3.50: 3 dozen, 2.75a3.00. tuce—Supplies limited; demand . market firm for good stoc Imperial Valley, cra Iceberg type. 4-5 dozen, best, 3 331, dozen, 3.00; poo fair quality, range in pr size o North Carolina, hampers. Big Boston type, bes 2.00; some f: qualit 1.00. Onlons- stocl applies mod- | erate; demand moderate, market fal Iy steady; Texas, standard crates, vel- low Bermudas, commercial pack mixed No. 1 and 2.35; old stock, supplies light; demand limited, market steady; Egypt. 110-b. sacks, yellows, No. 1, 4.5024.75. Potato Market Dull. Potatoes—Old stock, supplies light; demand light, market dull; New York, 150-1b. sacks, round whites, U. S. N 3, 1.80a1.90; few, 2.00; Michigan, 1b. sacks, Russett Rural branded, 2.10a2.15; new s : demand moderate, Florida, doubl Spaulding Rose, U. S Strawberries - demand demand | lorida, 10 best, 3.00a , moderate: | slighitly upplies moderate, market weaker; North Carolina crates, various varietles, late sales low as 22 Tomatoes—Supplies moderate: mand_moderate, market stead: ida, 6s. ripe and turning, wrapped, originals, fancy count, best, 5.50a6.5 choice count, best, 5.00a5.50; fair qual- ity and condition, fancy and choice count, 3.005.00 Caulifiower—Supplies light; demand | Vlight, market dull; California, crates, | Lest, mostly . String Beans Cheaper. String beans—Supplies heavy: de mand moderate, market weak; Flor- | 1da, green, wide | ; mostly 1.50 demand | square | ucumbers—Supplies light light, market st "demand Florida, pep- quash — Supplies hea moderate, market W per crates, white, 0. Peas—Supplies light; demand mod- erate, market steady; South Carolina, bushel hampers, large pod varieties, 2.75a3.25; small pod varieties, 2.00a 2.25; few, 2.50. Peppers — Supplies light: demand *light, market steady; Florida, crates, fancy, 6.00a7.00. VERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. RISKS IN COMMON STOCKS. One more moral may be drawn from s St. Paul receivership, and that is the risks which are inherent in the ownership of common stock. In 1906 St. Paul common sold just a fraction holow $200 a share, and every one knows what the quotation Twenty vears ago this stock was con- sidered one of the most conservative | of investments. Today it has only a speculative value and a doubtful value @t that. ¢ No matter how strong a corporation may be, how favorable its outlook or in what high esteem it is held by the investing public, conditions change over & period of vears, and they do not always change for the better. If you old common stocks you must be pre- pared to take the bitter with the sweet. Compensation for this risk is the higher return given by stocks as a rule in comparison with bonds, and in Nthe possibilities of price’ appreciation. 1t works both ways, but the trouble is That those who can successfully pre- dict what the future holds in store are few in number. The most of us can ake only a guess and very often a bad guess. This is not to say that common «tocks do not have investment worth, or that a certain portion of them should not be included in one's total 1oldings. It does point to the neces- sity for vigilance on the part of share- . bolders, greater vigilance than is de- mandéd of bondholders. If you are unable by training or by temperament 1o exercise oversight of the affairs of ANCIA Received by Private Wire BY WILLIAM F. HEFFERNAN. Market closed the week strong, with the recent leaders remaining the out- standing features. It was interesting %0 note how few sales it took to bring about substantially higher p-ices for Engineers’ Gold, which sold ac another new high record up almost 5 points. Al available shares of Wenden Copper below the 5 level were taken in large blocks, after which it sold at this figure, a new high. Kelvinator stock continued to reach higher levels, crossing 26, where it was almost @ point above the previous NEW YORK, April 18.—Following is an official list of bonds and stocks traded in on the New York Curb Market today: Sales in thousanda, EXDINFDEDI 525 -3 ERRESESIRER3 B 2 Anaconda 6% . .. 10 At G&W TS § 38 6B & O bs wi 4 Beaverboard 7 Bell Tel @ Beth Steel 3 Can_Nat qe 1Cit Serv %8 D 24 Cit Serv P & i Con G Bal a8 24 Cuba Co N _J” 6s. 2Z000000" eoa0005D! a 2 2 5! R rEERE ZoSnnE. S235CE5 »Es EESESRECIE Dunlop T & R 76 10 Grand Trunk_613s 108 2GM&N Dlas B wi 00% ih McN & L Ta 10! Manitoba Pow 7s 1027 Mo P Ry 6s E wi 9075 80 100 r 85 00 B o Bigs 30T 613510015 10014 hawsheen 7s.... 10075 1001 SI 101 % 100 99 b 008 oz 102 10135 1001 903 904 ot 09 10. W Webster Mills 6154 96 2 Alp M Steel 75 -, B FOREIG 4 City_Bogota Bs Es R R France French National In Mige Bk Fin Krupp Frie Ltd 4 Mige Bk Denm 6s unic Medellin 8x. 8 10115 11004 10015 1 Toho El 201 904 STANDARD OIL ISSUES. =33wes £32328 Fea Sales in 7 0 Buckeye ) Camberland P L 200 Humble O & R ) Imp Ol Canad n Intl Pet Co Ltd Ezis 2538 P uth Penn Oil. 10 Southern P L. . ZEZRZEE sz Sales INDEPENDENT OIL STOCKS. in hdrds. 5 Allen_Oil . Maracai i Nat Gas ESas 15 aabring m 3% 53 “olombian ont’l Oll. ont'l Oil ‘ris. SRR & FEF Gulf 0il of & Gulf Of) of Pa Lago Pet.... 0l P23 ) Latin-Am 4 Marland o o 12 Royal 4 Ryan_Con. . Creek P = 1 eaaBamantnSa; P 55'% b6 Y Y bl Al 19 19 56 BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, April 18.—The main events of the last week =n Wall Street have been a decline in money rates, the consequent hardening of Invest- ment valuations, a share list for the most part on the upgrade, and very conflicting_developments in outside busine: Had the position been what it was a month ago, there would have been more sensitiveness shown | to the industrial data, which has cer- tainly not been inspiring. But owing to the liquidation which occurred in the stock market during February and March and the slowdown in industry, conditions have been put on a sounder basis. The principal point about the stock market of the week is the way it has stood up against unfavorable trade news. There has been additional testi- mony to the fact that steel production has come down and, what is of more consequence, that steel prices have kept on declining. In comparison with what was expected at the outset of the year, steel conditions are distinct- 1y disappointing. The margin of profit for all but the lowest cost producers is unsatisfactory. Copper Situation Worse. The same thing is to be said for the copper companies. During the Win- ter the copper metal sold as high as 155 cents a pound. The Dawes plan had been adopted and there was much talk about European reconstruction and how this would increase the de- mand for copper. Predictions along this line have been upset as badly in copper as in steel. Only those copper cans, which have low labor costs, can pretend to make much money at the present price level of 13% cents. A year ago the sugar companies were selling their raw sugar at 41 to 43 cents a pound. Now the price has sunk to 2 5-16 cents. Consump- tion will be stimulated by these low prices, but it is very doubtful whether it wil] expand to an extent anywhere near sufficient to offset the enlarged production in Cuba and elsewhere which is indicated. the corporation in the securitles of which you have an interest, you will do well to leave common stocks alone. One word more of warning. There are always venturesome people will- ing to buy anything if the price is sufficiently low, and they perform an important economic service. They are not investors, but speculators. These are the buyers of stocks of companies in receivership. Some of our now most prosperous railroads have emerged from receiverships stronger than ever, and those who bought their securities’ when no one else was will- ing to take them reaped a rich re- ward, provided they held on long enough This may be the case with the St. Paul, but only these should act on this assumption who can afford Lo lose. (Copyrisht. 1925.) 0il Cuts Necessary. ‘When it comes to the oil trade, the position is also at variance with what had been hoped for three and four months ago. The latest figures re- vealed the largest weekly increase in the output of crude oil reported in some time. This, with the recent price cutting, has necessitated a re- vision of views regarding the oll out- look and the profits which the oil com- panies are likely to make in 1925. It has ceased to be a secret that ofl men do not relish what has been hap- pening since the first of the year. They recognize that the January price advances were unwarranted and that they over-stimulated new production. The fear is that this will lead to further price reductions, and the NEW YORK, April 18.—The Curb | NEW YORK CURB MARKET Direct to The Star Office closing. Buying appeared to be based on belief that directors in considering dividends would establish ‘the stock on a higher Fasis than heretofore predicted. ‘The new Nizer Corporation shares, which were offered for subscriptinn around $35, sold at a new top around $40, buying reflecting the exceptional- ly good earnings. New high records were also reached by the new Dodie shares &nd Electric Power and Lisht, both up about a point, while the oil: gave every indication of having dis- counted talk of further price rsduc- tions and crude oll quotations. Arm & Co B vie 12 Borden Co_. ..., Bordn Co Ris wi Bragiiian T L&P Bridreport Mach VAR Tob RE e 26 19 145 2 1 - - i DSt O 5 ] 3 1 (] 1 2 [ 5 t] SEETEA bt TG m Pow Co ptd 1 Com Pow C wis ACon Gas Balt n 4 Contl Bak A. Cont] Bak B D oo e ok 4 st pe E2 e PO =i ! <! Cuban Toh € ¥té Coty Tne Wi De For B C Dodge Bros 5 Doehier 1 € C Dubilier € & R % Dunnill” tnu” Joc rant Mot ... § Du"Pont, Motors 3 i Co A Elec Bd & $h Dl 1 & B n cor & 2 Invest In {0 Elec P &L w 9 Eureka Vag © 3 Firestone Tire 1 Frankiin Mtg €0 ] Ford Motor can. 1 ‘_ [z ot e 8 D etz 3 1 1 1 1 1 0 ek it o 2 2 s or ZHE LIEEERE SRIEE o e i e G e S ot ‘Cont hier-Ocean ¥ elvinator Corp. Lehigh Pow - wec 16 “hign v C N Civerty Bad C § arconi Can. MeCrory, Sto W Miafie Wess Gl 07 Middle West 7 16 West Tt pr 1i 101 % Moore Drop ¥o A 05 Stion Pie Cor. > 17% *"Master. Cor 1 248 s e R S o e i 1t 2 &, £33 ® . 0D D0a0GEe Luaas Do Lomcsoss ZHRDDRB ST CC T S o 2% Nat Pow & Lt. Y Tel Go pfd Plate new wi | Pla new pf ui r States = Nor Ohio P Co Dppestheim & Col 18 Patge. Motor, 3 Pow Cor N ¥ 3 Reid Tce Cream . . Reo Motor .. R Cor i ¢t Ve Cor - .- e Corp A epor 1 Cor ¥t 0 C& Tnow .. Southeast Po & T, ‘i Southern Cal_Edi 107 iy Sou Cal Edi B pl 901 1 Sou Cal Edi A pf 108 2% ST bt e E P RS ) s B 1 b nt & Thermiodsne R C 5 Thom Ra Cor vic 1 Todd Ship, a0 i e Lt & Pow A.. Tnited Pt Shar I P & I Cor A 5'S Lt & Heat - Pow pt R M S n vte Vilson n pfd wi Ariz Globe Cov. . MINING. 1 Ariz Com Mining 10% 10 Butte & Western i3 40 Canario_ Ce T 27 Chino _Ext nes .. 10 Cons Nev Utah. 130 Diamondfid B B .05 23Eng G M Lt Ind Eureka Croesus. 100 Forty-Nine Mine. .. 20 Goldfield Cons.. . 10 Gold State. . 80 Hawthorne 1 Howe Sd nw vt 4 Jerome V Devel 53 Kay Copper Cor. l? L.onr ‘Slu., . 2 Nipissing ... .. Stand Sily_Lead. . Tonopah Divide. United Verde Ex Wenden Copper... Whie Cap Exten Of the 35,000 girle under 18 years e i e psemean »EOLABESH I s ) ~SERS! e Ty L3 Rism IDPR O BB ° RaEETEELS: =t -3 wsisizty it 10 10 5 64 80 3 companies, like the Southern Ameri-: of age listed as unemploved in Lon- don, more than 11,000 have claims to government dole. BUSINESS NOW IS CONFLICTING, BUT STOCKS AVERAGE HIGHER Steel OQutput and Prices Lower—Copper and Sugar W eak—Too Much Oil Brings Down Prices. Motors Booming. market for the oil shares is showing these misgivings plainly. On the other hand, railroad stocks of the better class have been strong because of the attractiveness of their yield in view of the recent decline in money rates. There has been some revival of interest in the lower-priced non-dividend paying members of the group, because talk of consolidations is always temporarily helpful from a speculative standpoint, however, it works out in the end. The time has passed where railway combinations are to be formed, taking over the comstituent stocks at fancy prices. These stocks are not going to be worth more because of the fact that they are going into a consolida- tion, but only in consequence of the increase that may be brought about in actual values through the econo- mies of joint operation and better traffic distribution. Motor Group Booming. The automobile companies, accord- ing to the most authentic informa- tion, did not have a good first quarter. But they are going to have a very much better second quarter, one which will go ahead of the same pe- riod a year ago. This is the basis back of the buying of the motor shares, which was a leading feature all last week. The suggestion is that if these business conditions keep on the way they now point, there will be an increase in dividends before the year is out in some of the big com- panies. The past week has been marked by very sharp variations in grain prices and by some recovery in cotton. In the latter case the figures on domestic consumption and on exports have counted. Under the stimulus of lower prices the American mills in March took 582,674 bales against 484,840 a year ago, and exports rose to 734,697 bales against 332,168 in March, 1924. Both with grain and with cotton, the immediate interest centers in weather conditions, and it is too early to ven- ture predictions regarding the new crop yields. French Position Stronger. French francs have gone higher during the week, and the selling of French government securities has been checked. This recovery does not eignify more at present than that there had been a lot of short selling on the expectation that, under the latest political crisis, French capital would take fright and start leaving the country the way it did four and five months ago. When this scare did not materialize, speculators who had gone- short took in their commit- ments, The financial markets have certain- 1y not passed final judgment upon the situation as it is likely to be under the new ministry. But they have given a vote of approval of the fact that the new powers are against a capital levy and will seek to put through the necessary reforms along the line.of increased taxes. THE EVENING STAR, WASHINGTON, | MULE STILL HERO IN'WORK ON FARNS Outshines Tractors and Horses in Cotton, Tobacco, Rice and Sugar Cane Fields. BY 4. C. ROYLE. Despite the development of the tractor and other power farm equip- ment, the great American mule still is the hero of the motive department of American agriculture. The long- eared, loud-voiced hybrid still con- tinues to do a full share of the work, despite the progress of motor-pro- pelled machinery { The mule population of the United States has grown by nearly a million head in the period from 1914 to date. | the count now totaling 5,411,000. Ac: cording to the research department of the National Association of Farm Equipment Manufacturers the grow- ers of cotton, tobacco, rice and sugar- cane have swung over almost entirely to the use of mules in preparing their crops as able to do the most work on the cheapest fuel and with the lowest grade of driver. Mules Gain in Popularity. The leading mule markets of the country, St. Louis, Kansas City, At- lanta and others, show that demand for mules never has been so keen since those animals were used so | exstensively as cannon fodder during the war. The shift in receipts as reflected in the Kansas City market, for example, has been from 65 per cent horses and 35 per cent mules to 85 pre cent mules and 15 per cent horses. This does not reflect a lack of use- fulness and popularity in the horse, but it does reflect the trend toward mules as farm animals. The St. Louis horse market has been receiving two mules for one horse for over two years. The horse, like some of the farmers, 1s gravitating toward the cities. What Survey Reveals. According to a survey made by the assoclation, the main reason for this is that the horse was competing not only with the mule and the tractor for draw bar use on the farm, but| with the steer, the dairy cow and the | hog for the farmer's time and feed. The returns from the time and feed required have resulted in the horse being outbid, and the latter has there- fore been transferred to lines of use fulness where his worth brought a higher return than on the farm. Used. has been cut off value of the mule pop- ulation since 1914, while the horse suffered a much higher loss, both in number and total value. As an indi cation of the stern competition for the farmer’s time and feed among the different classes of live stock, dairy cattle have Increased 4,500,000 in num- ber and $160,000,000 in money value in this 11-yvear period. " Beef cattle in- creased 3,500,000 head, but the total holdings fell off close to $150,000,000 in value. Sheep decreased over 10,000,000 head, but their dollar value Jumped up $172,000,000. | Fewer Horses Only $21.459,000 from the tota More than a thousand woman doc- tors are now practicing in Japan un- “FEDERAL- AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President First Mortgage Notes For Sale in Any Amount Security Carefully Selected 637 INTEREST For Thirty-seven Years We Have Sold Without Loss to an Investor. Wm. H. Saunders Co., Inc. ‘ 1433 K Street N.W. Phone Main 1016-1017 Our First Mortgage In- vestments are fully pro- tected by a surety com- pany’s guaraniee., Interest will be paid on your daily _balance when buying our First Mortgage' Guaran- teed Notes by monthly pay- ments. Notes may be pur- chased in amounts of $100 and up. A splendid way to save and have financial inde- pendence, Second Trust Notes This company has funds available for the purchase of all kinds of second trust notes, secured on real estate in or close to D.C 5] Prompt Service Washington Investment d Transactions Co. 713-15 14th St. N.W. =0 D. © Query the Promoter. Determine how muech of his own money the promoter is putting into his scheme before you decide to risk yours. Don't take his word for it— make him prove it. When You Need a Loan Think of WELCH, Loan Specialist Money to Loan At 51,9 and 6% INTEREST Before Placing or Renewing Your 1st or 24 Trust Consult WELCH, Realtor Lean Specialist Quick Replies Reasonable Charges 15th and N. ¥, Ave. Main 43464347 When You Have Funds to Invest, Consult WELCH, Specialist Established 1809 615% and 7% - Estate Notes for Sale in Amounts from $250 Up to $1,000 or More. Consult Welch, Realtor T s ™ 15th & N. Y. Ave. M. 4346 Reference: Any Bank, Trust Co. or Title Co. in the Dixtrict. No loxx to an investor In About— Pays 61/ per cent Main 2345 Charter No. 10316 REPORT OF CONDITION Of the Federal-American National Bank Washington, in the District of Columbi. April 6, 19: RESOURCES. at <& Loans and discounts, other banks, and foreign bills of exchange or , . With indorsement of this bank e . Overdrafts, unsecured,...... . 3 . U. S. Government securities owned @ Deposited to secure circulation (U. value) .. 5 a2 . -......$50,000.00 b All other United States ‘Government securitics owned, including premiums, if any . bonds par 5. Other bonds, stocks. securities. etc S - Banking house, $457,000; furniture and fixture: - Real estate owned other than banking house . Lawful reserve with Federul Reserve Bank S 3 l!vms with Federal Reserve Bank in process of collection . Cash In vault and amount due from national banks . - Amount due from State bunks, bankers, and trust companies in the United States (other than included in Items £, 9 and 10) Changes £or Clearing MOUSe. ..........c...oovuereinsanansen becks on other bunks in the same city or town as reporting bank (other than Item S Sugh el Total of Ttems 9, 10, 11, 12, 13 PR 10 - a Checks and drafts on banks (ineluding Federal Re. serve Bunk) located outside of city or town of re porting bank - ..$16,038.42 b Miscellaneous cash items 1.307.63 $34,934.08 Redemption fund with U. 8. Treasurer and due from e T e Z . Other assets, if any Total LIABILITIES. Including rediscounts, acceptances of , Mortgage Investment Dept. SHANNON- & LUCHS] 713 and 715 14th St. Reserve District No. 5. the close of business on $8,516.252.65 309.79 $1,200,000.00 . Surplus fund..... . a Undivided profits......... .. b Reserve for depreciation of bonds and securities .... J $180,219.38 ¢ Less current expenses paid 1,296.93 . Reserved for taxes, interest, etc, accrued. . Circulating notes outstanding..... Amount due to Federal Reserve Bank (deferred credits). . Amount due to national banks. Amount due to State banks, banke companles in the United States and foreign countries (other than included in Items 22 or 23) SRR Certified checks outstanding. T . Cashier’s checks outstanding . ... 5 Total of Items 22, 23, 24, 25 and 26...... .$727 Demand deposits (other than bank deposits) subject to reserve (deposits payable within 30 days): . Individual deposits subject to check . Dividends unpaid . Other demand deposits. g Total of demand deposits (other tha - $8.114,239.20 Time deposits subject to reserve (pavable after 30 days, or sub- ject to 30 days' or more notice, and postal saving: . Certificates of deposit (other than for money borrowed). . Other time deposits. eRitiea . Postal savings deposits. Total of time deposits subject ems 33, 35, and 36 ... L.....$2,572.859.02 United States deposits (other than postal savings), including war loan deposit account and deposits of United States dis- bursing officers £ . Bills payable (including all obligations representing money borrowed other than rediscounts)....... . Liability other than those above stated. o reserve, 750,000.00 60.439.69 50,000.00 124,977.63 346,270.94 208,661.05 16,722.67 30,616.07 8,091,529.57 7.137.00 15,572, 446,730.40 034.415.08 91,704.56 17,096.15 560,000.00 916.66 $14,231,721.53 District of Columbia, ss. 1, CHAS. D. BOYER, cashier of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. CHAS. D. BOYER, Cashier. Subscribed and sworn to before me this 17th day of April, 1926. (Seal.) Correct—Attest: WM. JOHN EYNON, WM. F. HAM, JOHN POOLE, BYRON 8. ADAMS THOMAS P. BONES, ARWIN B. LINTON, FRED S. GICHNER, JOHN T. CROWLEY, GEO. E. WALKER, HARRY KING, ‘W. T. GALLIHER, JNO. DOLPH, L. MACKALL, W. G. GALLIHER, ISAAC GANS, RALPH JENKINS, LEON TOBRINER, WALTER A. BROWN, JOHN L. NEWBOLD, HE Apartment Man- agement Agent rents space as the manufac- turer sells merchandise. He studies his market with the same care and works in the same ag- gressive manner. We Are Salesmen of Apartment Space Experience has taught him what rent can be secured. He knows how to find tenants. He notes, as well, the service given tenants so as to keep them satisfied. The Individual Owner —is seldom equipped - with this information or with a renting staff. He is, therefore, seriously handicapped when he competes for tenants with efficient agency- managed Apartments. ; We specialize in MILLARD S. YEATMAN, Notary Public, D. C. JAMES B. HENDERSON, ARTHUR D. MARKS, Directors. APARTMENT BUILDING MANAGEMENT B. F. SAUL CO. Main 2100. 925 15th St. N.W. FINANCIAL 3 23 NRHRTR T TR | Money to Loan Kecured by first deed of trust on real estate Prevalling interest and commission i"m"h I Weller 420 Wash. L & Trust Bldg.. b &F N W. Cop One Million Dollars 14th & H Streets Prompt Action First Mortgage Loans TLowest Rates of Interest and Commission ‘Thomas J. Fishet & Company, Inc. 738_15th Btreat WE FINANCE —all claswes of income-producing property. Large Loans a Specialty Current fnt. rate and commission. Higbie & Richardson, Inc. 818 15tk St. N.W, b e B e | MONEY TO LOAN ! First Trusts pluced and Second Trists bought on improved prop- erty in the District of Columbia Also money available for Third Trusts in small amounts. Nearby Virginia and Maryland Trust placed on improved propert: Prompt service and nominal charges. KAY-SCHNIDER-KAY CO. | i Inco-porated Investment Blig. Franklin 513 | SOUSOT, The Prudence Company, Inc. of New York Invites Applications for Construction Loans Long-Term Refinancing Amounts of $50,000 and over FRED T. NESBIT Loan Correspondent Investment Bldg. Main 9392 Funds Available for First Mortgage Real Estate Loans on Improved Property in the District of Columbia Applications invited, Every courtesy extended Park Savings Bank 14th and Kenyon Sts. N.W. THE joint approval of all members of the firm and the Manager of our Loan De- partment is given to every First Mortgage Note offered by this organization. BOSS Ao PHELPS “HOME OF HOMES” 7 K Street NW Main 9300 Established 1907 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST 1321 Connactiout SHvonue Prestige Behind Your Investment HE house that stands back of your in- vestment must safeguard you against loss, or its prestige in the financial world is nil. First Mortgages need no plea as a safe security today. But the wise man pur- chases them only through a house whose standing is above criticism. For fifty-six years we have conducted our business without loss to a single client. Such a statement is only made possible by the utmost integrity of conduct and the soundest business judgment. 56 Years Without Loss to An Investor