Evening Star Newspaper, May 23, 1925, Page 27

FIN ORK AND SPRING | CHICKENS HIGHER Butter Comes Down During| + Week—Egg Prices Hold [ ] Very Firm. Cheaper butter and higher pork Products featured the week’s market. Bpring chickens also were higher than they were the preceding week, lower prices during, that period resulting from glutting the market. The egg market continues firm, with frices ranging from 30 to 32 cents, ac cording to quality. Cheaper prices are Mot anticipated during the Summer season, when candling losses are heavy. Only moderate or light supplies of Vegetables from distant points are re- ported, and strawberries are not as plentiful as they were a_week ago. North Carolina berries sold today at from $3 to $5.50 a crate, while Vir- ginia berries in fair condition brought 11 and 13 cents a box. Today’'s Wholesale Prices. Butter—Fancy, tub, 51; prints, tore-packed, 2 Eggs—Fancy, selected, candled, mverage receipts, 30a30%. Poultry—. Leghorns, 3 dium fowis 1ba18; ducks, Dressed fowls, 30; ducks, 20a25. Live stock—Calves, choice, 11; me- dlum, 10a11; lean, 8a9. Lambs, Spring, 16a18. Live hog: Meats—Beef, 175 lambs, 3 bam: 52; turkey a30; shoulder 3 Fruit and Vegetable Review Today’s market report on frui yegetables (compiled by the M News Service, Bureau of Agricultural Economics) said: Cabbage—Supplies light, market steady; folk - section, barrel type, 2.00a2.35. Cucumbers—Supplies light; demand moderate, market steady; Florida, 7s- bushel hampers, No. 1, best, 3.5 oor quality, 1.50a2.50; South 2 ina, bushel hampers, No. 1, 4.00a4.50; Virginia, Norfolk section, hotbed stock, bushel hampers, fancy, 6.00; cholce, 5.00. Onlons—Supplies moderate; demand light, market steady 1- ifornia and Texas, standard Yellow Bermudas, commerc! mixed, Nos. 1 and 2, 3.50a2.75. Potatoes—Supplies moderate; de- mand light, market steady: old stock, New York, 150-Ib. , round .Whites, U. S. No. 1, mostly around - "4.25; new stock, Florida, double-head barrels, Spaulding Rose, U. S. No. 1, 7.00; South Carolina, cloth-top stave barrels, Irish Cobblers, U. S. No. 1, 6.0026.25 Strawberries—Supplies homegrown receipts mand good, market steady; North Carolina, 32-qt. crates, various varie- tles, wide range quality and condi- tion, best, 4.00a5.50; mostly, 4.00a4.50; poor quality, soft, wasty, 300 Virginia, Norfolk section, 32 and 60 qt. crates, various varieties, best, 16a18; poor quality, small, wasty, 1234a13. Tomatoes—Supplies modera mand moderate, market stead 1da, sixes ripes and turning wrapped originally fancy count. 4.00a4.50; choice count, 3.00a3.25; ordinary qual- ity and condition, fancy and choice count, 2.00a3.00, String beans—Supplies moderate, de- mand light, market steady; South Carolina, bushel hampers, green be 8.50a3.75; 7-bushel hampers, 3.00a3. Peppers—Supplies ligh! light, market dull; Florida, No. 1, best, 2.50, poor quality, 1.50. Plenty of Green Peas Peas—Supplies liberal; demand m erate, market steady; Virginia, N . folk _section, hampers mostly around, 2.50; small, 2.00a2.25. | Cantaloupes—Supplies light; demand 1ight, market steady; California, stand- ard, '45s; salmon tints, 9.00a9.50, few | sales, 10.00, flat and 3.50; liberal; demand Virginia, Nor- crates pointed moderate; moderate, de- de- Flor- Corn—Supplies moderate; demand good, market steady; Texas, bushe baskets, approximately 4 dozen, 2.50 2.75. Blackberries—Supplies very demand moderate, market = steady; South Carolina, 32'quart crates, poor condition, soft, wasty, 3.00a5.00; North Carolina, 32-quart crates, 2 30-_per quart. Yams—Supplies liberal; slow, market dull; North rolina, cloth top slat barrels, 4.00a5.00. Lettuce—Supplies moderate: demand light, 4 California, cen- tral district, crates, Iceberg , 4.5 dozen, 3.50a4.00; ordinary condition, 2.50a3.00; Virginia, Norfolk section, 5. peck hampers, Big Boston type, mostly around 1.50. BURNS BROS.’ SALES. NEW YORK, May 23 (P).—Net pales of Burns Bros. for the year ended March 31 fell to $27,287,473, compared with $30,295,586 in the pre- vious 12 months. et profit was $1,271,902 after depreciation and taxes, against $1,305311 the year before. April was a record month, with net profits of §223,962. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. light 5a demand Politics and Foreign Bonds. 1t politics were the important factor In fixing investment values which many people commonly assume to be the case, it would certainly be evident in forelgn government bonds. As a matter of fact, changes in govern- ments do affect market values. One has only to go back to the election of the Labor government in Great Brit- @in to note the adverse influence it ad upon the market at that time for ritish government securities. More Yecently the election in Germany was followed by reaction in the 7 per cent . dollar bonds to the lowest point they had sold up to that time since they were first issued. The history of South American governments’ obli- gations furnishes many other in- stances of this kind. And vet, noth- Withstanding these market fluctua- ions, the rule is that they are only emporary, and that the underlying nfluence that fixes investment value ver the longer period is practically | @lways economic and financial and not Ppolitical. ¥ There may be an exception, as when .ussia went through complete revo- jution and the new government re- * pudiated the obligations of the old. The vital concern of the investor, as istinguished from the speculator, is ot the politics of a country or politi- cal changes, but the proportion of its total indebtedness to its total resorces, Ehe wealth of its people, the soundness ©f their monetary and banking sys- tems and the prevailing economic con- gitions. Character is another important mat- fer. Reputation for meeting obliga- tons is more significant than any tem- por alterations in the composition Bf Cabinets or even changes in the head of the government. To a great degree investors in for- #ign government bonds may properly ANCIAL. BY WILLIAM F. HEFFERNAN, NEW YORK, May 23.—The impor- tant price changes in the closing ses- sion of the week continued to take place on the side of advance, but while specialties selected for leadership were pushed upward, week end profit taking was having its effect over a good part of the list. > to new high prices in Cur- Aero, preferred and common, ac- companied re s that this company, along with Wright Aeronautical and one or two other concerns, will enter NEW YORK, May 2; an official list of bond raded In_on the New cet tod; Following is and stocks York Curb BONDS. soomer EACEREEERERC0R0 R Y ] n Pet s . . and_Trunk iif O Cor 5 1t O Cor 5 1 Ruhber ¥s. . a8 1 £ Wi101 % 3 FEE R T IEERZ8228R2EE S P M 618 C1 Kla G & E B . ¢ Dow & LEB: 0 are Ol Co 838 hawsheen 7s .o 101 4 6e Eana g0y Rige.. o O8 S 10 Swift & o l‘x‘x‘nz, S Rub B8 S Rub 6155 TS Rub 6138 6138 b 6138 813 6158 6138 838 Ipine Mont S ity Bogota 8s .. STANDARD 1200 Anglo Am Oil 100 Atl Lobos . 400 Atl Lobos pfd 90 Borne Scrymser. . 10 Cumt 4100 Hum Ol & R .7 20T P L . S )0 Imp O Can new’.. od PALE s Inter Pet € Lid . 100 Ohio Oil 2300 Prair 0 & 130 Prairie B L OPEN WAR ON GRASSHOPPERS. FORT WORTH, May 23 (Special).— A hundred miles of the right of way of the Cotton Belt Railroad between Commerce, Dallas and Fort Worth has been treated to Kkill shoppers which were obstructing trains. GERMAN BONDS AND STOCKS. uoted ollars per million marks.) (Quoted in dollars pe o Ger G 2500 Hamb Ger Gt h 4z pre-war. she Anilin G (Gen Ge merz and Pri Disconto Gellsehaft Dresdner Bank Deutsche Bank . Darmstacdter Bank. Mercur Bank Vien Washington Stock Exchange ALES Washington Rwy. & Elec. ptd—1at 83%. Lanston Monotype—1 at 83. " Merrenthaler Linotype—8 at 179%. AFTER CALL. Capital Traction 55—$500 at 98, $500 at Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. Amer. Tel & Telea. 4y A mer. Tel. & Telga. 4% A rel & Tel. oll. tr Am. Tel. & Tel. conv. 8s ‘Anacostia & Potomac b Ana. & Potomac guar. 5s. P. Telenhone & P. Telephone 0 pital Traction R & Suburban 5. Bs. & Mt. Yer. 5 & Mt V. ctf. Stk. L. Bk. ot Realty Ba (o). Rices Realty 58 _(short) Southern Bldg. BY%8.. . Wash, Mkt Cold Storage Wardman Park Hotel 6e. PUBLIC UTILITY. o 1, & Telg: 138% T aetion. .- - 2 Wash. RwY. Terminal Taxi com. NATIONAL BANK. Capital National Columbia - Commercial Pistnct, & siecnanica’.. . Federal-American American Security & Trust. e Trust Continental Tru Jommerce & Savings. Fast Washington 3 Sav. & C merican .. forcoran_ .- Corcoran Nitional® URion TITLE INSURANCE. lumbia Title . foalEstate Ti D. C. Merchants haler Linotype. NarfehMige, & Invest. 0Old Dutch 0ld Dutch disregard the politics of the country iIn question, previded the bonds qualify §n thess other particulars. é (Copyright, 19265.) Lanston Monotype. Security Storage. ashington Market. Yellow Cab.. “Ex dividend. THE EVEN NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office the freight-carrying fleld between New York and Chicago. It is understood that the full $7 to which the preferred Is entitled will soon be distributed to stockholders in place of the present $5. In e in the Assoclated Gas and Electric class “A” dividend from 50 cents to 621 cents quarterly resulted in a rise of a point to a new high for the year. West . which had risen 5 points Friday, was well bought around 52, but came off later. Oil sha held firm around best prices of the week. a5 108 O Ohio....... 35 35 BOM 300 Vacuum i ) DHOK Sale INDEPENDENT OIL STOCKS. in hundreds. 26 Cit Serv | 1 Cit Ser B cfs. ‘olombian Gantin Ol +ie Ci & Greole nk Ol al Can 0 & R et 1 Adirona 1 Adirondadk Se Allied Pic 5 Am Gas & Pow & L n 81 Pow & L'yt & RET R Superow B Super propt. Ariz Pow & T Artloom Corp “wi 30 Ano Gas & Pipe “hapin Salks < Aero’ M M pt Corp Curtiss urt Aero Curt Aswet De For R C Doehler Die C € i Dubilier C & R.. 4 Durant Mot Invest Ine reka Vacuy ok HH Mg C Motion_Ple Musie Master C.. Y Tel Co 3 rth O Pow C “nion “nited G 50 War B9 West Pow ..... 4D R M S n vt 2 Wilson & C n wi 1 Yel Taxi C Y M 9 Canario_ Copper. 11 Chino Ext Min 5 Cons Cop Mines. 40 Forty Nine M 20 Hawthorne M 3 Hows S new v 58 Kay Cop Cor . tional Tin. vada Cons Spearhead Gold nity Gold . FERTILIZER BUSINESS NOW BACK TO NORMAL Season Has Been Profitable to Dealers, Chemical Company Head States. Special Dispatch to The Star. BALTIMORE, May 23.—The Spring fertilizer season, now coming to a close, has been a profitable one, ac- cording to C. Wilber Miller, president of the Davison Chemical Co. In fact, 1925 bears promise of being the first real normal year since 1920 in the chemical and fertilizer industry, Mr. Miller said. ‘The Davison plant is sold up for the rest of the year at nearly 100 per cent of capacity, with volume of sales so far in the current year practically double the corresponding period of 1924, Price of acid phosphate is now on a much more profitable basis than pre- vailed last Fall, averaging $9.50 a ton, compared with $7.50 at that Query the Prometer. Detsrmine how much 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. STUDEBAKER CAN PAY LOANS. NEW YORK, May 23 (#).—The Studebaker Corporation is' understood to be prepared to pay all outstanding bank loans due July 1. After provid. ing for nearly $2,000,000 fn June 1 quarterly dividend requirements the corporation will have more than $8,000,000 cash on hand, it is said. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY CHICAGO, May 23.—Building ma- terfals are moving steadily, with sand, gravel and crushed stone at slightly lower levels than a year ago, except in the South and West. Cement is stable, with brick and tile firm. ATLANTA, May 23.—The State gasoline tax of 3 cents a gallon has netted Georgla $845,614 in the first quarter of the vear, of which $279,000 has gone to the State highway depart- ment for road building. HAVERHILL, Mass., May 23.—The Haverhill Shoe Manufacturers' Asso- clation has appealed to the Haverhill Shoe Board for a reduction of wages in every factory department. HOUSTON, May 23.—Shipments of fruit and vegetables from the lower Rio Grande Valley so far this year have totaled 11,339 cars, a new record, comparing with 10,808 cars for the similar period of 1924. DETROIT, May 23.—The Chrysler factory is adding to its list & coach listing at $1,545, factory. BY STUART P. WEST. ! Special Dispateh to the Star. NEW YORK, May 23.—The past week has been another perlod of ris- ing prices on the stock exchange ac- companied by an increase in the vol- ume of business, denoting a larger public interest. Also it has been a week of low money rates, of strength in investment bonds and of generally hetter trade news. The two features hearing upon the stock exchange movement have been the proofs of greater liberality in the distribution of dividends, and second, the disposition to clear the way for holders of junlor stocks by calling in preferred share fssues, or else get- ting ready to take care of dividend arrears. More Increases Predicted. What this means is that, after re- | Patring the los ustained during |the slump of 192021, a number of | industrial corporations have thought {the time ripe for paying out more of their surplus earnings. Possibilities in this connection have furnished the main incentive for the Wall Street operations of the last week. At the same time various dividends have been increased and more such BIG CUT IN COTTON UTPUT 15 URGED Northern Men Claim South Is Ruining Trade by Too Much Speed. BY J. C. ROYLE. Special Dispatch to the Star. W YORK, May 23.—The cotton textile interests of New England have been signaling violently to the southern manufacturers to put the brakes on mill production in the last fortnight. But their appeals have fallen on deaf ears: The northern mill men endeavored to show the southern producers gathered here for the Southern Ex- position that it would aid both sec- tions if mill schedules were cut down. In most Instances they were told plainly that so long as the southern mills could maintain top speed they would let the northerners worry about the curtailment program proposed by the National Council of American Cotton Manufacturers. See Too Great Actlvity. The New Englanders assert that there are 18,000,000 spindles in the North and 00,000 in the South. This number, they say, is sufficlent to supply normal needs. But with the southern mills working two shifts, as some are doing, the southern spindlage is increased to 34,000,000, which is too much when northern spindles are added. Consumers are buying on a hand- to-mouth basis. With the rallroad situation in fine shape they are con- fident that they can secure what goods they want on short notice. The manufacturers therefore are having to carry some goods, involving the tying ap of considerable capital and thout the advantage of forward usiness to bank on. The northern manufacturers say this situation is keeping prices down. They want both sections to curtall. Fall River mills and some in other textile centers are doing So. A num- ber of southern mills with northern affiliations are following suit, but the majority of southern mills are letting their competitors do both the worry- ing and curtailing. Cotton Experts Alarmed. John S. Lawrence of Boston, an ex- pert on New England cotton mill con- Qditlons, says at least 25 per cent of the New England cotton mills must be abandoned or seek a mew outlet for their goods. His idea is supported by the fact that some 30 of the largest mill companies in New England have passed their dividends in the last cou- Ple of years. Other experts differ as o the causes for the existing situa- tion. Some blame styles. They shud- der in horror over reports from Paris that skirts are to be still further short- ened, reaching barely to the knee. This is not hecause they are reform- ers, but because they see opportu- nitfes to sell fewer goods. Feminine taste for a year has been away from cotton and toward silk and rayon fabrics. Some New England mills have adapted’ themselves to this trend of style. Others doubt whether the swing to silk is permanent. For a time textile manufacturers asserted that all would be well when the coun- try was prosperous. Now many of them are blaming the prosperity of the country for their troubles, declar- ing the vogue for silk is a manifesta- tion of super-prosperity, Which must fade before they can profit fully. Prices Vary Greatly. long with the cry for southern cur- (afimel’ft comes the urge for additional tariff protection. Mr. Lawrence, how- ever, suggests that the difficulties can and should be overcome by intensive, high-pressure salesmanship directed at American _consumers. The mills are endeavoring to make the best of things by accepting any kind of an order presented. The days of the million-plece order have passed, and makers are taking orders for 5,000 and 10,000 pleces or any small amount that will serve to keep the machinery busy. Prices are made to suit the buyer in most cases and vary sharply as between individual cus- tomers. (Copyright, —_—— MANGANESE SENT HERE. The Russian information bureau here states that of 53,475 tons of Russian manganese exported in March from the Chiaturi fl:ldst. 20,650 tons, or nearly 40 per cent, were shipped to the United States. Ger- many took 18,485 tons. ROAD BOOSTS INCOME. NEW YORK, May 23 (®).—The Co‘l\oEr:ado and Southern Railway earned $10.88 a share on the common stock in 1924 after preferred dividends, compared with $4.01 a share in 1923. Net income increased to $4,055,971 from $1,024,545. Surplus was $3, 375,660, against $1,244,008 the year before. NICKEL PLATE REPORTS. EW YORK; May 23 (@).—April lui‘pluu of $449,023 is reported by the New York, Chicago and St. Louis (Nickel Plate), a gain of $140,139 over April last year. Gross revenues de- clined to $4,365,800 from $4,626,478, but net operating income increased to $790,151 from $646,129. Surplus for the first four months of 1925 was $2,030,046, against 31,608,299 & year 1925.) Public Again Buying Stocks As Many Issues Go Higher Low Money, Dividends, Trade Reports and Rise in Commodity Prices Among Week’s Big Features. Increases are expected. The prospect of rallway mergers continues to make some of the medium and low priced rall shares favorites. Finally, the very easy money conditions have had their logical effect in bringing new buying Into the higher grade of dividend pay- ers, both in the rallway section and among the {ndustrials. Commodity Prices Harden. All these elements have told in fa- vor of higher prices, and, as pointed out a week ago. constitute a more solid background for the present for- ward swing than any that existed last Winter, when the market was so en- trely dominated by speculation. Outside Industry also Is in better shape than it was four months ago. Then the commodity price structure was wobbling and production had been carrled too far. Now the proper re- adjustment has taken place. Output of the mills and factorfes has been reduced in keeping with consumption, founded upon demands for immediate needs only. Prices came down over three months without Interruption. Within the last fortnight they have hegun to harden, and there is very little doubt that, in the majority of lines, they have reached the level at which buyers feel confidence again. May Figures Important. The April figures on the forelgn trade proved nothing because gold payments were not resumed until April 28. It will not be until the May returns appear toward the middle of June that proper conclusions can be drawn In the meantime the suggestion may be made that while the increased pur- chasing power of the British pound will naturally stimulate imports, the ability to lay hold at lower costs of a larger quantity of forelgn raw mate- rials will help the export movement. Francs Again Decline. French francs took another down- ward turn during the week and were not far away, at their bottom figures, from the season’s extreme low. This does not signify disapproval of the financlal policies announced by the new French cabinet. On the con- trary, in banking circles these are regarded as the sanest of any so far proposed. But the uncertainty arises as to how the French people will treat the project for heavily increased taxes. The whole trouble with French finances Is that too many misleading statements have been made during the last three years from high quar- ters. Federal Reserve Ratio Up. The remarkable part about the financial situation at home is that with stock prices at a new high av- erage and with dally transactions at the 2,000,000-share mark again, the reserve ratio of the Federal Bank at New York has risen to the highest of the year. This demonstrates that the member banks have been able to finance the increased activities of Wall Street without recourse to the redis- count facilities of the Federal Reserve institutions. This is the stage of the year when weather conditions are paramount as an influence in the commodity mar- kets. The Winter wheat crop of the United States is evidently going to be very short as compared with the 10- year mean, but this shortage may be offset later on by the enlargement of the Canadian harvest, which was ab- normally poor a year ago, and by a better Spring wheat yleld In this country. Cotton Crop to be Large. The cotton trade is looking forward to another large production and con- sequently there is no incentive, any more than there has been for the last four months, to recovery. On the other hand, the fall of 10 cents a pound or more in prices, as com- NG STAR, WASHINGTON, D. €, SATURDAY, MAY 23, 1925. FINANCIAL. > P17 y - PromptAction First Mortgage Loans Loweat Bates of Interest and Commission | Thomas J. Fisher & Company, Inc. | 738 15th Street | i Continental Trust Company Capital E One Million Dollars 14th & H Streets P AT 1T AT Money to Loa Zecared by first deed of trust on real estate « Prevailing Interest and comm!ission WE FINANCE —all classes of income-producing property. Large Loans a Specialty Current int. Higbie & Richardson, Inc. 816 15tk St. N.W. rate and commission. WANTED Second Trust Notes This company has funds available for the purchase of all kinds of sccond trust notes, secured on real estate in or close to D.C. Prompt Service By ashington Investment2 d Transactions Co. 713-15 14th St. N.W. Main 3662 When You Have Funds to Invest, Consult WELCH, Loan Specialist Established 1890 62% and 7% Real Estate Notes for Sale in Amounts from $250 up to $1,000 or More. Consult Welch, Realtor e B 15th & N.Y.Ave. Main 4347 Reference: Any Bank, Trust Co. or Title Co. in the Districi. No loss to an Investor in 25 vears. Electric Light & Power North American Sysicin pared with a year ago, has caused an improvement in mill demand and this is holding the market steady. (Copyright, 1825.) STOCK ON $2.50 BASIS. NEW YORK, May 23 (P).—The new no par_value common stock of Asso- clated Dry Goods has been placed on an annual dividend basis of $2.50 a share, with declaration of a_dividend of 63 cents, payable August 1 to hold- ers of record July 11. The annual rate on the old common, $100 par, which was split up four for one, was $5 a share. PREDICTS DODGE GAINS. NEW YORK, May 23 ().—Clarence Dillon of Dillon, Read & Co. said on his departure for Europe today that he expected business of Dodge Bros., Inc., for the first six months this year to be double what it was last year. This improvement should more than continue throughout the year, as the last half always is better with the motor companies. he added. Quick, Courteous Action Money to Loan on lst, 2nd and 3rd Trusts Money Advanced for’' Payment of Taxes Money ed for Individual and Corporate Financing District Loan Procurement Company 219-223 Kellogg Bldg., 1422 F St. N.W. Tel. Main 8070 Inchudes the Electric Light & Power Companies serying Cleveland St. Louis & Milwaukee and adjacent territories. The North American Company is ene of the oldest, and most successful Utility ing Companies in the country. Statement just issued shows Record Earnings Descriptive booklet on request. We recommend purchase of the common atock. CRANE, PARRIS & CO. 823 15th St. N.\W. ‘Washington, D. C. Satisfactorjr Safety UR First Mortgages are free from danger or risk, and, in addition, possess satisfactory safety. that much-desired clement— Simplicity is a prime factor in connection with the purchase of our First Mortgage Notes. There are no complications, no legal entanglements, no investigation necessary— every detail is taken care of by us. Without any red-tape or uncertainty, you can invest your funds and receive your interest and principal promptly. These Notes are issued in denominations of $100 and upward, and now yield 6%2% el c shi 56 Years Without Loss to An Investor FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President Wanted—Money Wanted, loan of $25,000 in one or separate loans. First-class real estate se- curity on church property, 1 to 3 years at 7 per cent. Address Box 220-X, Star Office FIRST MORTGAGES FOR SALE Denominations of $250, $500, $759, $1,000 and upwards 6%2% All Loans Made on Property Located in the District of Columkita JAMES F. SHEA 643 Louisiana Ave. N.W. B When You Need a Loan/ Think of WELCH Loan Special?st Money to Loan At 57,9, andi 6% INTEREST Before Placing or: Renewing Your st or 28 Trust Consult WELCH, Blealtor Loan Speclalist; uick 1ieplies Reasonable Charg es Y Ave. Main' 1346-4347. = 15th and We will gladby receive and give prompt/ attention to applications for Loans on Wixshington Real Estate Current rate:s of interest. Should you ha'ye Money to: Invest —we can also take care of you. Our exjrerience, ex- tending over a, period of Thirty-Fivte Years —insures your protection. Percy H. Riussell Co. 926 15th St. N.W. Patronage is very sensitive—it usually goes onl where it is urgently invited, and its sojourn is limited by the character of ns‘ treatment. Za A Keen Appreciation F —of this truth has prompted us to “urgently invite” investfga. tion as ow we absolutely First M se Real E: IMPROVED PROPERTY. afeguard funds invested state Notes secured wupon in our Washisgton We are confident vour sojourn as a pation will bee * LIMITED"” after you shall have tried our service. NEVER A LOSS TO AN INVESTOR. Ask for Our Literature and List of Sequrities Offered ! MORTGAGE INVESTMENT DEPAR;IMENT. The Prudence Company, Inc. / of New Invites Applications for Construction Loans ‘ & ¥ E York Long-Term Refinancing Amounts of $50,000 and over : FRED T. NESBIT Loan Correspondent Investment Bldg. %ammwmflw ? é Houses Business Properties Maini9392 The New York Life Insurance Company Offers to Make E First Mortgage Loans on Improved Real Estate In the o District of Columbia and Suburbs for 3, 5 or 10 Year Periods < Apartments Office Buildings Y% ON APPROVED SECURITY ¥ Apply RANDALL H. HAGNER & COMPANY MORTGAGE LoaN GORRESPONDENT Over a Quarter of a Century Without a Loss and you Main 2100 “WHAT AM I WORTEI TODAY?” If you invest your money in OUR FIRST MORTGAGES ~ —secured on selected Wash- ington real estate, you will have an investment that will not fluctuate, that will be just as good three years from now, will always know what your assets are and what your income is to be. B. F. SAUL CO. 925 15th St. N.W.