Evening Star Newspaper, August 21, 1925, Page 17

FINANCIAL. MARKET SUPPLIES DELAYED BY RAINS Vegetables on Sale Meet De- mands, However, and Price Changes Not Material. this morning had its market. It delayed ea morning s away. It also deliveries from Wet weather effect upon "tk many_ of the bhuyers and kept othe had the effect to de the country Vegetable culty usual N wers experienced diffi- crops for this morn- ulting in decreased but supplies all demands, were not ap- atherin arket, T4 vegetables, mple to meet and prices affected. 1 supplies poultry continue rby States, prices quoted earlier in he butter and egg market with no prospects of & break in ar future Today's Wholesale Prices. 19; prints, 52; er—Fancy, tub, 20a31 selected eipts, 34 Alive pring ¢ , 30a31; small, 28; heavy fowls, medium fow small fowls, ducks, packed s—Fancy cand alves, 11alllz; hogs, 15. ’ Fruits and Vegetables. Cantaloupes — Hor supp! ms egrown lies mon tints, mbos 355, homegrowns | harket | eipts mod irket for East-| emand | dozen ; mostly around Onjons- moderate: demand light, market steady; New York and Midwestern States. 100-pound sz Yellow: United States No. 1, ; fair quality, 3.00a3.25. askets, Elbertas. wire. bushel ze. fine quality | Pennsyly 1 to medium Efberta x Seedlings, mediu a2.75; New Jersey um to large size large size, 3 iets, Hal condition, poor pac Potato Market Steady. Potatoes—Supplies moderate; mand moderate, market about New Jersey 150-pound sa Cobblers, - No. 1, mostly chine graded, 4 Watermelons—Supplies mand slow, market stead Virginia, bulk, per 100 melons, , mostly around 50.00. i plies heavy; demand | market fairly stead: iryland, bushel bz medium_to 1 size, 50a75 iality and condition, | | own supplies | market dull, 10a15 per Ap) mode: =inis varic Green lbera dozen. Tomatoes—Homegrown supplies lib eral; demand moderute, market steady:| homegrown, 12-bushel hampers, 1.00a | 1.50 Pear: mode: boxes, Bartlett Supplies moderate: demand market i California, mostly 3.00. Industrial Aleohol Up. BALTIMORE, August 21 (Special).— S Alcohol | 1 gra The Balti e plant of the United 1 Aleohol Co. is the biggest single unit of its kind in the world. It is reunning 1 time and the com pany_is realizing record prosperit The United States Industrial Chemi- cal Co., subsidiary of the alcobol com- pany, also operate a plant here and this, too, is one of the largest of its kind in the United States. RAW SUGAR UNCHANGED. NEW YORK, August 21.—The raw sugar market was unchanged early today at 4.37, duty paid, for Cuban. N sales were reported. The raw sugar futures market was steadier on covering for over the week end and buying by houses with Buropean connecti dday prices ts net high d in refined were 1 to 2 po No changes were repor r, the list ranging 40 for fine granulated, with demand less active COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY —It is stead- no gasoline various sta- g from 18 to 22 cents a zallon lonal Filling Stations, Inec., the largest independent distribu- is quoting 20 cents FORT WORTH -Broom- { ices in the Southwest have ad- 0 per ton in the last Broomcorn now is selling at 5 per ton G: Dak., August 21.— Threshing is well under way in South Dakota, with Spring wheat yleld esti- ed at 27,163,000 bushels, compar- 1 with 33,000,000 a year ago. The corn crop is estimated at 122,084,000 bushels, compared with 100,000,000 grown last BOSTON, August (astly asserted there is here, although r. KANSAS CITY, August 21.—The Washburn-Crosby Co. has announced plans for fncreasing the milling fa- cilities of its Kansas City plant, which it present is 3,000 of flour a day. CHICO, Calif., August Harvest- of sugar beets in Butte, Glenn, ‘olusa, and Sutter counties has hegun. sugh 100,000 acres - we ed in alifornia this year, crop was in jured by biight her damage, and is expected about two- thirds that of last vear, when 131,000 tons of sugar were produced. PORTLAND, August 21.—The mills of the West C ’ soclation manuf in the last week shipped 102,500,164. The Western Pine Manufacturers made 38,311,000 feet, “hipped 33,281,000 and received orders for 29,485,000 JULX AUTO PRODUCTION. july production of automobiles in the United States totaled 346,728 pas- senger cars and 37,431 trucks. Total production for the year to date of pas- senger cars is 2,203,219 and trucks, 263,543. The Commerce Department in making the report gave for the same period of 1 vear 2.010,459 pas- ates Tndus- | = THE EVENING NEW YORK CURB MARKET l Received by Private Wire Direct to The Star Office « BY WILLIAM F. HEFFERNAN. Special Dispatch 1o The Star. NEW YORK, August 21.—It was a quiet first half session on the curb exchange today, with operators for the rise still having the upper hand. No spectacular advances occurred in iny quarter. but at the same time no disposition was shown to sell stocks. Pathe Exchange, which had been a weak feature v, retraced . NEW YORK, August ing an official list of stocks traded in on the Curb Market today: Sales in BONDS, thousands ngn . 1004 bonds _and New York 1 Allied _Pack 20SoEoa 583855328 o5 I8, T 6 ¥ PIFGERE FEFEIIET ool ERERoHm 5 Detroit" C; 16 Detroit B 1Fed Sug 6 Jair. Robt 7s. . .. I General Pet da 19 Kan C Term 4s. . 1 Kexs TC of P 5141 2 Libby MoN & T, 3 Morris & Co 7 Or Py are 0i1° Co 6 HRCE Tat p u Cal Ed 3 SEa P &L 6s wi SONY 6%s . 7Swift & Co bs | 0 O Cal 5 U'S Rub 6% S b nhnm s 1 French_ Nat 3 Great Con_El TIn M BK Finl'd 35 43 King Denm'k 5%s 3 King Nethl 6s ¢ 1 Krupp Eried L '4 8 973 1 Mor Bk Denm'k b8 99 Prov_Santa Fe 7s. 96 Pr Up Austria 75 0215 1 Rep Peru 8s '32.. 101 ) Solar Refin 50 South Penn Of1. 100 Vacuum Sales INDEPENDENT OIL STOCKS. in hdrds. e 1'Am Contr Ofifids 12 Am Maracaibo C TArk “Nat Gas.. 3 Cardinal Pet.. 9 Canib Synd 9CIt Serv new! = e 11 Livingston Pet 3 Mex Panuco % Mount Prod . + Mount_Gu| 3 New By e b B S 2k o i 3 Peer 0l Co 2 Pennok 01l Cor. 1 Reiter-Foster Oil, 3 Royal Can O & B 2 Salt Ck Cons . PO eRE e B o #at o SEaED 25383 Superpow' A Supernow B Thread C fd Washington Stock Exchange SALES 3 ton Rw. & Elec. ptd.—1 at 85 10 at 95% , 10 4t 857 10 ut 5 Mortgage & Investment pid-—40 _ Washir 5 i National at 9% AFTER CARL. Capital Traction 5s—S$1000 at 09 Washington Rwy. & Elec. com.—{0 at 160, 2 at 160, Capital Traction Co—3 at 1003 . Mergenthaler Linotype—2 at 101, 2 at 101, Washington Rws. & Elec. com—5 at 163. Money—Call loans, 5 and 8 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Ashed American Tel. & Telga. 4. o American Tel. & Telga. 4 12¢. Am. T & Tel. ctl. tr. 5s. Anacostia & Potomac 5. Aba. & Potomac guar. 6. C.'& P. Telephone 0. 7 C. & P Telephone of Va. 8s.. Caital Traction R. R. Oe... . City & Suburbun Bs. Potoma: Potoma Potomac. Pot. El P < Wash., Alex. & MU ¥ Wash Alex. & Mt. V. ¢ Wash . Balt. & Annap. 5. Washington Gas o Washington Gas 6 Wash. Rwy. & Elec. 480 Wash. Rwy. & Elec. gen. 6s.. D. C. Paper Co. 68 : Pot. Jomnt Stock L'd Bk, Rigks Realty (long) 5s. Rikks Realty 56 (short)... Southern Bidg. 8%s..... . Wash. Mk, Cold Storags 8. 0 Wardman Park Hotel 6s..... 1 STOCKS. PUBLIC UTILITY. American Tel. & Telga.. . . Capital Traction z Washington_Gas. Norfolk & Wash_ Wash. Rwy. & Elec. com. Wash. Rwy. & Elec. pfd.. Terminal Taxi com........ NATIONAL BANK. Vational Ca Columbia Commeres District . Farmers & Mechanics'. econd ational Bahk of Washington jean Security & Trus nental Trust......... Hants Bank 5 onal Savings & Trast D Frust .. Wash. Loan & Tru f‘lm'm‘vfl‘hfil"\llxfl . E: ‘ashington. . Nty Savinks & Com.: <oenth Strect:- T Woheton Stechanics’. FIRE INSURANCE. American . 2 Corcoran . men's National Union. TITLE INSURANCE. Columbia Title Real Estate T MISCELLANEOUS Zho B3t Za5 Old Dutel Lanston Monotype. Security Storage. . Washington Mark; rellow €ab. Za dividedd e S e @ : oBm | more than the ground lost, when it soared close to 80. The upward move- ment kept on in the ofls, but im- provement was slight, The strength in Glen Alden reflected the possibility of & soft coal strike. At 1421 it com- pared with the previous final of 139% | Western Power maintained its place of leadership in the public utility | group, while others were little ! changed ridgeport Mach kiyn Clty R R. 3 Contrit Pip Cor. Chapin Sac & C. Chi Nip B Tt Cleve Auto > Commw P _C Comm P Comm P ons G Ball nw Continen Bak A. 4 Contin’ Bak B . 5 Contin Bak pid ¢ Cont Gae EIL P pf 4 Gont G3a P R bt pe. C new. rts. . ¥ sz BIEZE! o P Bond & Sh’pt B & S new Cor S253825 SRR T2 I STAR. WASHINGTON, OUTLOOK CHEERING - T0SHOEINDUSTRY Factories Running at High Levels and Buyers Freely Placing Fall Orders. BY J. C. ROYLE. Special Dispateh to HAVERHILL, The Haverhlll shoe industry today running at the highest level recorded in years. Shoe buyers have indicated thelr confidence in the prospect for Fall by placing substantial contracts for future delivery and many New England plants now are assured of good operating schedules for months to come. Earnings for the shoe in- dustry promise to be the best in five years, according to manufacturers. Prices for both men's and women's shoes give no signs of market changes. They say that while the trade in leather and shoes has lagged behind the general improvement in business throughqut the country, stocks of raw productd and finished merchandise which grew to such burdensome pro- portions after the war have been re- duced to a minfmum. More leather is going Into consumption than is be- ing produced and the industry is head- ed in the direction of more business A i H MG d Bise & C... reshman Chas 3 Garod Corp ... Gen Tce Cream. . Ge G & E new A Ge G & etts S K. . len Alden Coal. 5 Goodyear Tire T § Gould Coupler A 2 Grennan Bak 13 Hap C St A... 3 Huzeltine~ Co; 3 Heyden Chem . 4 Hunt Bros A .. 7 Inter Contl Hub. 1Intl Con Ind C.. 8 Intl Mateh C pid .30 Intern Uul B. ... 5% Johns-Marvilie Jones Radio . 18 Relvipator € . [ 4 Loh Pow s vic 1% Ceien Tai ¢ 14 Lehigh Val © Lehn & Fink wi. Rt [ or Sta P C wts Norwalk T & R 1 Outlet Co S 2 Pathn Ex o Ehila Eie 1 Pow 3 R C Purity Bak_B. . Rem Noiel T C'A HA Singe Sou Gas & PuA 4 Sou Cal E Sou Cal A Sou Cai ! Sou Clues vuls 5i Southw, Bell ofd. 1103 0 mEios WEREPE S F R FE SocnSEda ol Fmen Ty E5835 Bew3 . o MINING: STOCKS. 0 Ariz_Globe C... 26 Canartd Conper Cons Cop’ Mines. Cons Nev Utah.. . Copper Bange .. Cortez Sifver Lid 1 = Eng Gd Forty Nine M Gold Cent Mines Hawthorns M T. . 1 Hecla, Mine .. .. 90 Kay Copper Cor. 5 Mason Val ... Midland Steel . o T ni Verde Ext. | . 1B Utah Apex ... 2 Wenden Cop . COTTON MARKET STEADY. NEW YORK, Auguet 21 (P).—The cotton market was rather irregular in today's trading. The opening tone was steady at an advance of 3 points to a decline of 7 points, despite some early selling on prospects for better weather in the Western belt and relatively easy Liverpool cables. December sold off to 23.50 after the call or 3 points net lower, but some trade buying to fix prices at this figure and covering by recent sellers, checked the decline. Increasing complaints of crop de terioration In the Eastern belt helped to steady the market and prices were a few points up from the lowest at the . |end of the first hour. The market turned firmer after the irregularity. The hope of better wea- ther in parts of the Southwest evi- dently failed to create any selling pow | er of consequence and prices advanced readily on a moderate demand from shorts and the trade. December sold up to 23.77, or 24 points net higher and the market was within 4 or o points of the best around midday. Re- ports of continued high temperatures and more numerous complaints of de. terioration in Eastern belt crop pros. pects were factors on the advance. Weekly cotton statistics: Total for- warded to mills, 45,000 bales, of which ‘Amerk‘arh 30,000; stock, 515,000; Amer- ican, 244,000; imports, 43,000; Amer- ican, 14,000; exports, 13,000; Amer- ican, 6,000. NEW ORLEANS, August 21 ().— Although Liverpool was lower than due the cotton market here opened steady. First trades showed losses of |only 1 to 2 points. Prices eased off a few points after fhe call to 22.64 for October and 22.84 for December, ow- ing to a little seiling, but soon rallied to about the level with the previous close owing to buying orders. The market continuéd to folow a ‘waiting attitude because of uncertainty as to the government report due Mon- day. Another private report made the condition 63.7 and the indicated yield 14,378,000 bales. 1 LIVERPOOL, August 21.—Cotton, spot moderate business; prices steady, | American strictly good - middling 13.87; good middling, 13.57; strictly mie dling 13.32; middling, 13.07; strictly low midling, 12.77; low miding, 12.42; strictly good ordinary, 12.02; good or- dinary, 11.42. Sales, 4,000 bales, includ- ing 2,800 American. Receipts, 13,000 bales; including 6,600 American. Fu- tures closed quiet and steady. August, .72; October, 12.39: December, 12.31 January, 12.32; March, 12.38; May, 12.43; Juy, 12.40. St TR AN el Union Rolls Near 4,000,000. The membership of the federated and independent unions of the coun- try totals about 4,000,000, of which | close to 1,000,000 belong to the so- called independent unions. - At one time the membership of the unions was about 5,000,000, but there was a falling off after 1920. Just before 1900 it was around half a million. —mbil ficgeiuie Li When everybody says it, nobody knows it for certain. and better profi The industry as a whole, however, still somewhat overdeveloped, with ¢ pacity of plants in excess of normal demands. Styles in Women's Footwear. Styles in Women's footwear have become more stable and leather markets are firm, according to J. C. McKeon, president of the Boot and Shoe Manufacturers' Assoclation. He indicated that while production in the first half of this year had been slightly behind that of the corre sponding period of 192¢, he expected the volume for the full vear to ap- proximate 350,000,000 pairs, or above the 1924 output. There are no large stocks of shoes in the hands of elther dealers or| malk he declared, and there are no re changes in sight, since wage scales are fixed and material prices are firm and likely to remain unal tered. “We are getting away from the volume idea,” he sald. “There has been no multiplicity of varieties such as have been put out in some former years and, in short, the industry is on a sound basis.” The New England centers are gradually recovering from a serfous depression for which labor disputes are held responsible, aided by this stability of styles. There have been constant clashes over piece rate: Manufacturers ciaim that they have not been able to benefit from im-| provements in labor-saving equip- ment, since organized employes would not permit corresponding reduction of plece rates. Every taxation of the New England | plants, as contrasted with a disposi tion to allow remission of taxes for new plants in other sections, also is declared to have been a factor. _ Labor cost in making a palr of shoes in Massachusetts stands at 89! cents, as against 53 cents in Missouri. 56 cents in Maine and 58 cents in New Hampshire. In this city, only the board of arbitration, not the employ er, has the right to discharge a shoe factory employe for poor workman- | { ship. H Many of the New England factories make a specialty of women's foot- | wear, and the constantly changing| styles have necessitated a continual alteration of piecework schedules. | In one New England center, 5.000 piece prices were fixed in one vear in making parts for new-styled shoes. There has been a decided hetterment recently, due to a better understand- ing between employers and employes. Cites Mistakes by Factories. Frank C. Rand, president of the International Shoe Co., which has 10 plants in New Hampshire, says that makers who tried to fill their fac torles with a lot of distress orders during the depression, in order to keep their organizations intact, made a mistake, losing profits and adding to pessimism. He declares the pres ent method of buying in small quan- tities 18 not a disadvantage to the manufacturer. “Formerly the retailer bought shoes twice a vear,” he continued. “But he is getting away from that practice now. The present tendency keeps everybody in the chain of distribu- tion In & more liquid condition. Prob- ably 74 per cent of the orders are for prompt_delivery and 26 per cent for deferred shipment.” The industry in general hopefully anticipates an expansion of earnings during the remainder of this year. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. A New Theory and a Caution. A new theory of investment has gained acceptance in many quarters in recent months. It is that over a long perfod common stocks are safer than high-grade bonds. The' idea is that if one Is able to diversify the risk sufficiently and purchase shares in es- sential industries, the gains will out- weigh the losses after the lapse of time. Tt is argued that unless one takes Government securities on which the vield is very low, less than the sav- ings bank gives, the average investor | is sure to make a mistake in one' or | | more of his bonds and that this error by improvement in the status of the| the equity for the common stocks of from vear to year so that even If one | or more of them “go bad,” there is no | loss on the investment as a whole. | Statistics have been assembled to prove this theory. As_an academic proposition there may be considerable merit in this sug- gestion, but its safety depends abso- sultely on the ability to spread the risk over a sufficient number of sep- | arate stock issues. It cannot be! adopted by the investor with only a | small amount of capital at his dis posal. Also, it is more than probabl that the practice of this plan will be | more difficult than would appear from | a simple statement of the theory. | In any event, it is very doubtful if | this is the proper time to substitute common_ stocks - for conservative bonds. Judged by any standards of the past, stocks are selling at very high prices. They may go much higher. No one can make any con- fident prediction as to that. But this much is sure: Some day the average price-will be lower. Then, if ever, will be the time for the investor who is able to command sufficient resources to attempt the experiment of aban- doning bonds for stock. The trouble is it takes more courage to buy when other people are selling than it does| to go along with the tide. (Copyright. 1925.) | Your Banker Knows., When in doubt about a security consult your banker. It is equally as much his interest as yours to protect your savings. You trust him with your deposits—why not trust him with Your mvestment problems? of judgment is not compensated for || balance of his list. On the other hand, ||| {well managed corporations increases | D. C, GASOLINE PRICE DROP. Another Step in “Rate War,” Due to Stiff Competition. BALTIMORE, August 21 (Special).— A general reduction of a half-cent lnI | price of gasoline went into effect today in Baltimore and other Maryland yesterday, The reduction was decided as an- other step in the present gasoline | “price war.” It Is a direct outgrowth |l of overproduction and the consequent | | stiff competition, which, according to | officials of the Standard Oil Co. and the American Oil Co., is the most dras tic in several years. sections of FRIDAY, AUGUST 21, 1925. MONEY TO LOAN —on First Mortgages on im- proved_property in Washing. ton. Current rates. Prompt service. [SHARNON & LUCHY)| 713 & 715 14th St. N.W. Main 2345 Another factor, it is sald, that b been instrumental in the slashing of prices and which has not been exist ent in the past gasoline.” This so-called bootlegging | has been carried on by some of the independent companies, who, purchas- ing considerable quantities’ of gaso- | line, chiefly in California, have trans- | ported the gas to Western States, where they have underbid the big com' | panies. | N. Y. Reserve Bnn;R’eport. NEW YORK, August 21 ().—The | statement of the condition of the Fed- eral Reserve Bank of New York at the close of business August 19 shows: Total gold reserves, $950,964. 000; total reserves, $985,204,000; bills discounted, secured by Government war obligations, $122,736,000; all other, §41,5679,000; bills bought in open mar. ket, $17 0: total earnings, assets 2388,181,000; uncollected items, $153, 842,000; due to members, reserve a count, $833.726,000: total deposits, $853,582,000; Federal reserve notes in actual circulation, $339,665,000; ratio of total reserves to deposit and Fed- eral reserve note labilities combined, 82.6 per cent Australia’s Wool Clip. NEW YORK, August 21 U®.—The new Australian wool clip is expected to total 2,300,000 bales, said a cable- gram to the Australiian commissioner | yesterday. I‘ Joseph 1. Weller i For Investors Money to Loan fs the “Importing of | Secured by first deed of trust on real estats. Prevatling interest and commission. 420 Wash. L. & Trust Bldz.. 9th & F N.W. WANTED! SECOND TRUST NOTES Punds available for the pur- 7 all kinds of gecond trust on D. C. or nearty Prompt sction 1n Washington Investment and Transactions Co. 715 14th St N.W. 7% First Mortgage Notesg . Denominations of $100 and Up— WE FINANCE —all classes of income-producing property || | Large Loans a Specialty Current (nt. rate and commission. Higbie & Richardson, Inc. h St. N.W. | All Details Given Prompt Attention See Mr. O’Donnell, Mgr., Mortgage Department REAL ESTATE LOANS | 5}% ANY AMOUNT RESIDENCE LOANS AT LOW BATES FRED ,T. NESBIT | INVESTMENT BLDG. Main 9392 FEDERAL-AMERICAN | |/ NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President First Mortgage Notes fully | secured on improved real estate the Northwest section of the city. in Denominations $100—$250—$500 | WM. S. PHILLIPS, | 1432 K St. NW. PH8ne Main 4600 FIRST MORTGAGES FOR SALE Denominations of $250, $500 $750, $1,000 and Upwards 6%2% All_Loans Made on Property Located in the District of Columbia JAMES F. SHEA 643 Louisiana Ave. N.W. Stocks Bonds We Buy and Sell Listed Securities. Outright or on Margin. BUCK & CO. lllb'al‘ 1918 Evans Bldg. 1420 N. Y. Ave. N.W. | —tor We Buy First and second trust real gstate notes secured on in- come-producing real estate in Washington, D. C. Construction Loans Made long - time__ periods amounts up to $700,000. Real Estate Mortgage & | Guaranty Corporation 26 Jackson Place N.W. Resources—$2,500,000 L. E. BREUNINGER, President in StEtmET 3233212020328 03 000302022000 00 20222t pae 8 Fr. 7300 Write or Call for Weekly - Market Letters 1% First Trust || Notes T il IN t Convenient Denominations | t | Secured on High-Class: ! Northwest Residential Property in the Finest Home Sections of the City | I See Mr. Kelly, Loan Dept. | F | M GOS i 1415K | i Buyers | the best yield consistent | S.W.STRAUS & CO, 4 Points for Bond Where in the investment field can you find such | well - balanced securities || | as Straus Bonds, combin- | ing the merits of security, | | with safety — about 6%, | diversification,andagood || market? Write for full in- [ ‘ formation on these sound | i bonds. Ask for ! | BOOKLET 588-G | | Established 1382 | Investment Bonds | Nat. Metropolitan Bank Bldg. Washington. D. C. (ncorporated | Telephone Muin 0847 43 years without loss to any investor © 1325, W. S, & Co., Tne. M. 4752. l Equitable Co-operative Building Ass’n JOHN JOY EDSON, President (1] 1879 $5,031,814.86 FRANK_P. REESIDE, Secy. 45th YEAR COMPLETED Surplus ..$1,352,749.93 Subscriptions for the 88th Issue of Stock Being Received Saving Systematically works wonders with your moncy. Hundreds of people in this city.r ige this and are regular depositors sn the Equitable. No matter whether you are.a large depositor or a small one, The Equita- ble welcomes you. JOIN TODAY. eal- $2.50 PER \ MONTH 915 F St. N.W. FINANCIAL. First Mortgage Notes HE soundest investment you can pos- sibly make—protected by double their face value in the best of Northwest Washington home properties! See Mr. King, Mgr. Loan Department BOSS b PHELPS THE HOME OF HOMES 1417 K Street Main 9300 BE INDEPENDENT —in your later years by providing for them NOW. Save a little every month aud put the money your family in ou FIRST MORTGAGE NOT « to work for you wherein are Safety and Security supreme. Tent return is 6 Call or write and let us explain the simple details MORTGAGE INVESTMENT DEPT. NNON. & LUCH 713 and 715 14th St. N.W 32828583888 082888830888028388 Main 2345 1335133382581382828 $3EITIIIIIIIINIIIIILINIL: APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Lecated in the Distriot of Columbia and adjacent Subuebs in Montgomery County, M& 53 % INTERKEST ’flpp Iy so H. L. RUST COMPANY LOAN CORRESPONDENT Sse¢ PRUDENTIAL INSURANCE COMPANY o AMERICA 912 15th Street N.W, » Main 6883 g ol The New York Life Insurance Company Offers to Make First Mortgage Loans on Improved Real Estate In the District of Columbia and Suburbs for 3, 5 or 10 Year Periods Houses Apartments Buriness Properties Office Buildings 572% ON APPROVED SECURITY a2 Apply RANDALL H. HAGNER & COMPANY MORTGAGE LoAN GORRESPONDENT TelyphomaMizin 5700, 0 D 0 O R 8 RO 9 P {0 0 P4 R R z | THE MOST EXPERIENCED INVESTOR —depends largely upon the recommendation of the invest- ment house with which he deals. If the house is as it should be, he has confidence in its word. It creates and sells FIRST MORTGAGES Experienced investors like them—and there is nothing safer for the inexperienced. We have speciayzed in safe First Mortgages for over a quarter of a Century. Quarter of a Century Without a Loss B. F. SAUL CO. 925 15th St. N.W. Main, 2100