Evening Star Newspaper, March 21, 1926, Page 49

THE SUNDAY STAR, WASHINGTON, D. C., MARCH 21, 1926—PART 1. BOND SUMMARY FOR THE WE.,EIE gfl‘,’%{“ {%fi%{gflsfigfifig 0".8 ARE S]'R[]N[;[R Lgfi%&flfilr:fiéfgz MONEY TO LOAN Current Rates Prompt Reply’ CHAS. W. MORRIS & SON Evans Rldg. Main 307 FINANCIAL. 49 FINANCIAL. BOND LT AR BY MOKEY TREND Most Observers Don’t Think Market Will Be Hurt by Stock Slump. High, Low. U. & BONDS. High. 1016 9919 Liberty 31s1932-47.. .. 101-6 101 ~ 101-3 331 102-16 101-21 Liberty 15t 438 1932-47.. 102.9 102-5 10208 387 100-30 100-17 Liberty 2d 4% 1927-42... 100-30 100-26 100-29 8 78 1019 100-25 Liberty 3d 4%s1928..... 101:8 101.3 101-3 8171 1089 101-20 102-23 101-29 Liberty éth 41,5 1933-38.. 102:18 102.16 102+15 589 10810 104-13 108.2 1069 Treasury 4%s 1947-52.... 107428 107-24 107-26 873 1020 1920, Prov. week’s ftigh. Low. " filgh. Low. FOREIGN, Close. 97% Y5 100 96 Argentina 65 A-951. 108% 101% 1021 100% Argentina 7s 1927. 97% 96 9% 96% Australian Govyos. 1013 931, 1021 100 Austria 78 194 881, 831 873 854 Belglum 68 1955, 110% 106% 110% 109% Belgium 738 1945. 108 106% 10815 107 Belgium 85 1941. 891 80 86% 82! Bordeaux 6s 1934 BY GEORGE T. HUGHE 103 95 104 101% Brazil 8a 1941 02% 108% Special Diepatch 1o The Star. {s;:fi 101% 104 102% Canada by 185 }0" 102 tlon which interests the investment |19 jpgu, 105\‘ 071% Chile 88 1941 108% 108% market more than anything else just| 110y, 106 - - 109%, 108 - Chile 85 1946 now is how far the collapse of the 2 F On the 31st day of December, . as re- juired un Drive to Standardize Checks, Drafts and Other caniel :ififilfl'na L sinaseon Paper Used in Business Sweeping the Country. . i McFadden Bill Has Host of Friends Here. Advance in Contrast to Rest can gt v of List—Public Utilities Under the proposed new law all deal- BY EDWARD C. STONE. . Washington banks are expected : Easier. iy s0on 10, Join the ‘arive being made all | Sng would ‘be. ohllged 0 show Arst: e Pormity nountry for greater unl | cluss standing before being given per- Boten wnd ottt i d{‘ i% | mits. The proposed bill curries sévere | By the Associated Press. BN effort {0 elminate oot e ave | punishment for violation, the max-| NEW YORK, March 20.—Decided |y, LIk vt A cintnete Su T ue | imum being $1,000 fine and two years | strength, accompanied by fairly active | Reterve us rqune ey e Amssioes Bua:ke s’ As.|in prison. Supporters of the meas-|trading in the cil division on the Curb |Salarie . ure claim that the possibility of such |zxchange today was in sharp contrast | ¢,oi¢ heavy punishment would practfcally |to the general trend of prices tht ‘“Cy" :oclnthm has been agitating this re- th AC i oce K ; G er orm for some time und it 18 already [ 40, oftorts to unload securities known ne: Thtorest and_rente 10119 100-16 1021 1011 High. Low. Tast. 100 99k 994 100% 101% 97% 9% 100% 101 86% 86% 109% 109% 107% 107% §3% 83% 1024 102% WE FINANCE —ail classes of income-producing property Large Loans a Specialty 2 I Current fnt. rate and commission e ©i_idslel | Highie & Richardson, Inc. Total assets 816 15th St. N.W. t & gullible person to purchase. MONEY TO LOAN speculative campaign in stocks will affect bonds of the strictly investment type. . There are two opinions about the matter. One side holds that the down 511 40, 100 94y 102% 1011, 105 o9 105 104% turn in the stock market will have /1017, an unfavorable influence upon bonds. The argument s that any such strik- ing reversal of sentiment as has been seen In the stock market during the past week or two will fmpair confl- dence in the maintenance of the pres- ent price level for bonds. The other view, and those who hold it are in the large majority, is that, except for a temporary depression, the bond market will go ahead just | as if there had been no upset in stocks. Money Prices Factor. - In support of this second opinion the fundamental facts as to money and commodity prices are advanced. Tt wus not tight money or the threat nf tight money which brought about the change of front in the stock market. In fact, money this week has been distinctly easier, not only day-to-day loans on the Stock E: change, but accommodation for fixed periods. It seems reasonable to e rect that this condition will be a centuated by the release of money | bitherto employed for speculative purposes, not only in stocks but in real estate. The decline in the amount employed in brokers' loans as revealed in the figures published Friday emphastzes the point as to the stock specula- tion. For real estate there are no | statistics comparable, but the best | opinion is that the fever there, too, 1 has abated. Nor does it appear probable now that there will be any demand upon the money supply from commercial | not easi i activ ed to by car | loadings and other generully velied upon, is continuing at a_high rate but gives no signs of a boom. “ommodity prices also persis fuse to advance. Tt is b where any extraordinary drain upon money resources is to come from. “That being the case, there can be no| disturbance to bond prices from these quarters. Government Loan. On the other hand, the money re- 106 1021 898 8415 0514 90715 898y 89, 109t 1028 S10% 701, 1074 101t 112% 109 98% 934 104t 100 105% 100% 119 115% 107% 104 148 a4n 997, 951, 1074 103% 10874 9915 o7 961 1024 100 1018 9915 105% 100 a1 85 1000 978 103 100% 94 90 97 93y 111% 106 931 78l 102 941 111 121% 119 10215 991 104% 101 91t 825, 95 110 109 99 feased from other uses must go som where and the natural recourse honds, especially those about the qual- | tty of which no question s possible, | perhaps upon this theory that n acted when he | L long-te vernment bond | the lowest coupon rate since | Evidently the Secretary be. | t the letup in stock specu- | lation would Increase the appetite for | tnvestment securities and. judging by the reception the new Government Toan had, he was right “As far as the market itself went | this week, there was a recession in | ices for all grades of securities just best. Demand continued for the first mortgage | Light and Power issues sehi- | ing around a 5 per cent basis or-even | It was helped somewhat by the prospect of such of these honds as could pass the requirements becoming legal investments fo- savings banks in New York State, but it did not rest upon that alone. The insurance com- panies and individual investors of larce means are looking for just this type of bond. To a less degree the same was true of the very hich-grade flroad obligations. The difficulty in both instances was to get offerings of sufficiently large bloc : Market Sold Off. Fixcept for these very high-grade’ fesues, however. the bhond market ®old off more or less in svmpathy with stoc! Semf-speculative rail- road issues were especially heavy. There was further liquidation of the obligations of some of the rail operating In the South. The r: of the dividends on Chesapeake Dhio common and on Missouri-Kan- sas-Texas preferred stock was with- stimulating effec Merger re- a ha for advancing bond 'es were no longer effective. Sec- ade uti issues suffered along with the rails, and some of them are now down where the re- turn is again attractive on a vield basis. The market, howeve @ mood to accept nothing sav so-called gilt-edge descriptions. In another quarter honds have re- fected the ne of the week. That is in the foreign group. There is no denying that developments on the other side ve been disturbing to American investors in foreign secu- rities. First, there was the slump in Belgian exchange which showed itself in the market for Belgian dol- lar honds and then there was the fiasco at Geneva which temporarily, at least, weakened confidence in the whole European situation. It must not be understood from this that there was uny material set- back in the prices of seasoned foreign bonds, but only that sentiment to- ward them was less favorably dis- posed. The will not be really large Euro- market tested until some new pean offering is presented. South American issues were hetter support- ed. Still, what the investor wants just now is a high-grade domestic issue rather than a foreign obliga- tion of any kind. That may be only a passing pha byt it must be reckoned with. BOND PRICES DRIFT FRACTIONALLY LOWER By the Associated Pre: NEW YORK, March 20.—Ex- tremely narrow price fluctuations gave the bond market a lifeless ap- pearance today. Prices of most of the active issues drifted fractionally low- er, but enough buying was aroused elsewhere to hold the general list fair- ly steady. Specuigtive interest in oil company obligations was revived by the an- nouncement of the proposed merger ot the Standard Oil Co. of New York and the General Petroleum Corpora- tion, representing the fourth major consolidation in the ofl industry this vear. Ske¥y Oil 613s rebounded 31¢ points and wost of the Sinclair issues advanced a point or so. Rallroad bonds remained sluggish, with selling pressure directed prin- cipally against Seaboard Air Line is- sues. This road's Ist 4s broke almost 3 points and the 6 per cent bonds about a point. Chicago and Alton, Northwestern, Erie, Delaware and Hudson, Denver and Rio Grande and Frisco showed an easier tendency. Traction Co. obligations continued <0 sag, but a slump in the Third Ave- nue Railway adjustment 5s was offset by a spurt in this company’s reftind- ing 4s. Chicago Railways a new low level for the but i 99 101 5 5% 88 129 1067 106% 102 105 933y 10413 100% 91y 85 108 104% 106% 104% 98% 91 102% 73 112 109% 100 91% 921y B8Y 94y 89 918 R6Y 95 894 94 85% 103% 102% B0ty K38 98k 95% 092% 82W 118% 116 81% 79 90 864 9By 948, 93 BT 143 102 584 444 10314 100% 79% T1% 684 59% 60% 44 90% " 112% 105% &8 73% 891y 834 94% 91% 118% 116% 83% 764 1044 102% 107% 104% 96') 90% 89 8314 104 101 108% 106% 117 114% 103% 99% 111 108% 94 864 7% 6T% 108% 101% T4k 59% 95 8 79 - 66 89% 80% 75 T0W 937 B8% 99y 97 9Ty 95k 95% 91% 108% 104% 927 847 104% mg'a 92% mu: 126% 60 95 183% 99% 12 109% 3% 31% 9Tt 82% 8% 104% 100% 113 - 106% 51% 344 941, 90% 99% 98 101% 95 103% 100% i 94% 634 90% 81h 45 Chinese Govt R 9814 Copenhagen 5% s 1944. 98% Czechoslovaklia 83 1951. 102% Denmark 6s 1942 103% Dutch East Indies 65 19 103% Dutch East Indies 6s 1962 971 French Govt 71s 1941 100% French Govt 8s 194 1014 German 7s 1949...... 79% Holland-American s f 65 194 83% Japanese 43 1931..... 923, Japanese 61¢s 1954 100 Jergens Utd Marga: 82% Lyon 651934. .. 82% Marseille 6s 1934 106% Netherlands 6s 1972. . 76 Paris-Lyon Med 63 1958. 1041 Queensiand 6s 1947. 1101 Queensland 7s 1941 971 Rio de Janelro 8s 1946. . 1021 Sao Paulo, State of, 85 1936. 8¢ Seine, Dept of, 7s.... 91 Serbes, Crotes, Slovenes 8s 196: 10415 Sweden 68 19 s 103 Swiss5%s 1946 117% United Kingdom 5%s 4+ 104% United Kingdom 538 1927 INDUSTRIAL AND MISCELLANEOUS. 103% Amer Agri Chemical 7%s 1941, 99 Amer Smelt & Ref 15t 53 1947 107t Amer Smelt 1st 63 1942 103 Amer Sugar Refining 65 193 9674 Amer Tel & Tel cl tr 451929 100% Amer Tel & Telcl tr 58 1948 5 101% Anaconda Copper 68 1953. 1021 Anaconda Copper cv deb 75 1938. . 901y Armour & Co 4% s 1939.. 99% Atlantic Refining deb 58 1937. 1005 Bell Tel (Pa) ref 5s 1948.. 93 Bethlehem Steel p m 68 193¢ 4 Bethlehem Steel s £ 651943.. . % 95! 1061 Chile Copper 6s 1932.... 8115 Cons Coal (Md) 1stref & . 9713 Cuba Cane Sug cv deb 85 1930. Detroit Edison ref 631940 Dodge 65 1941... . Empire Fuel & Gas 7%s 1937. Goodrich (BF) 6138 1947. Goodyear Tire 8 1931. Goodyear Tire 85 1941. Humble Ol & Ref 5s 193 » Indiana Steel 68 1952 5 Inter Mer Marine 65 1941 5 Tnter Paper 68 B 1947.. International Tel 5 ret: Kelly-Springfield 8s 1931 Lackawanna Steel 5s 1950. 4 Liggett & Myers is1951.... Manatl Sugar s f 718 1942 Midvale Steel 55 1936. . ew England Tel 58 1982 Y Edison 1st 68 1941 sELH&P 51948 el 4135 1939 Y Tel 65 1941...... North American Edison és Pacific Gas & Elec 5s 1942 Pacific Tel & Tel 58 195! Philadelphia Co ref 6s 1944. Public Service 65 1944. Sinclair Ol 75 1937 kelly 6%s 1 ves South Porto Rico Sugar 7s 1941. Union Bag & Paper 63 D. United Drug 6s 194 . U S Rubber 15t & ref 58 194 7 S Rubber 7348 1930 Steel s £ 55 1963 Utah Power & Light 55 1944 4 Va-Carolina Chem s f 78 1947. ‘Western Union Tel 6%s 1936. 98% Wilson & Co 1st s 1941... RAILROAD. £91: Atchison gen 45 1935......... 921, Atlantic Coast Line 1st 481952. 89% Balto & Ohlo gold 45 1943 94 Balto & Ohlocv 43481933, 931 Balto & Ohlo ref 5s 1995. 102% Balto & Ohfo 68 1929. 89 B&OPIttsLE& W 941... 98 B & O Southwestern Div 5 cf8 50.. 921 Brooklyn Manhat s f 63 A 1968 117 Canadian Northern 6145 1946. £0% Canadian Pacific deb 4s 89% Central Pacific 4s 1949. . 97% Chesapeake & Ohlo cv 4148 1930. .. 92 Chesapeake & Ohlo gen 4%81992. 124% Chesapeake & Ohio cv 53 1946.. 51% Chicago & Alton 3145 1950. ... 02% Chi B & Quincy 1st ref 58 1971 7314 Chi & Eastern 11l gen 58 1951 6414 Chi Great Western 48 1959 484% Chi M & St Paulcv 414s 1932 90% Chi M & St Paul gen 415 198! 49% Chi M & St Paul ref 4%s2014..... 48% Chi M & St.Paul cv bs 2014 5 111% Chi & Northwestern 6%s 198 71% Chicago Railways 68 1927. £7% Chi R I & Pacific ref 45 1934. 94% Chi Union Station 4348 1964. 116% Chi Union Station 6%s 1963. .. 81 Chi& Western Ind con ¢s 1952 102% CCC & St Lref 65 A 1929, 105% Cleveland Term 5%s 1972. 95% Colorado & Southern 445 1: 88% Cuba R R581952..... . 0ue.s 1027% Delaware & Hudson 5%s 1937 85% Den & Rio Grande con 48 1936. 64% D& R G West 58 1955. . 90 Detroit United 4%s 1932. 74% Erle 1st con 4s 1996 64% Erie gen lien 4s 1996. 69 Erlecv4s A 1953, 76 Eriecv4sD1953. 97% FlaEC b8 74 106% Grand Trunk 114% Grand Trunk 7s 1940. 102% Great Northern gen 5%s 1952, 110% Great Northern gen 7s 1936 92y Hudson & Manhattan ref 65 1957. . 75% Hudson & Manhattan adj 565 1857. . 102% Illinois Central 5%s 1934 62 Inter Rapld Transit 58 1966. ., 856% Inter Rapld Transitcv 7s 1932 Inter & Great Nor adj s 1962. 93% Kansas City oSuthern 55 1950. 98% Lake Shore 451928, 96% Lake Shore 45 1931. 93% Louis & Nash unified 107 Louls & Nash 1stref 5. 89% Mil Elec Ry & Lt 1st ref 65 61. 102% MStP&SSM 6%s1931.. 845 Mo Kan & Tex 1st 48 1890. 91% Mo Kan & Tex adj 58 1967. 96% Mo Kan & Tex pr In 5s A 19 66 Missouri Pacific gen 48 1975. 96Y% N O Tex & Mex inc 58 1835 943, New York Cent deb 48 1934. . 101% New York Cent ref imp 58 2013. 106% New York Central deb 8s 1935. 9713 NY NH & Hcv deb 68 1948, 69% N Y West & Boston 4348 1946. 90% Norfolk & Western con 48 1996 148 Norfolk & Western cv 6s 1929. 61% Northern Pacific 3s 1947, 86% Northern Pacific 4s 1997. 108% Northern Pacific ref imp 6s 2047.. 967 Ore S8hort Line ref 4s 1929, 105% Ore Short Line gtd 5s 1946 88% Ore-Wash 18t ref 4s 1961 94% Pennsylvania gen 4%s 1965. 102% Pennsylvania gen 65 1968. 111% Pennsylvania 6148 1936 943 Reading 4%s 97 5 74% Rio Grande Western clt 48 1949. . . 88% RIATk & L 4%81934. .. 89% StLIM&SR&G481983. ... 775% St L & San Fran pr In 4s A 1950, 93 St L & San Fran pr In 58 1950. 99Y St L & San Fran 5%s B 1942. 924 St L & San Fran adj 6s 1956 85 St L & San Fran inc 6s 1960, 70% Seaboard Alr Line ref 4s 1959, 78 Seaboard Alr Line adj 68 1949, 91 Seaboard Air Line con 65 1945. 96% Southern Pacific ov 4s 1929 86% Southern Pacfic col 48 104 90 Southern Pacific ref 4s 1955. 81% Southern Ry gen 4s 1956. 104 Southern Ry 1st 581994, 112 Southern Ry dev 6% 1956 413 Third Ave adj 5 1960 92% Unlon Pacific 15t 4s 194 9% Union Pacific ev 48 1927. 998, Virgintan Ry 1st 68 1962, 101% Wabash 1st s 1939 991; Wabash 518 7..... 66% Western Maryland 4s 1952 957 Western Pacific 5s 1946 99 in effect in several big cities. The sweeping change will be of greatest importance to employes In the banks, but will also benefit the public through the greater economy and efficlency resulting. Under the present system thete is no uniformity in the size of the paper:on which checks and drafts are printed; the amount of funds involved is placed at the top on some and at the bottom on others, and the numbers which are used by banks to save writing out the full name of the bank in communicating with each other are placed on about as many different places as there are banks. Clerks are greatly delayed in look- Ing in different places on the checks for the stated amounts of money and other facts they must have in their tabulations. In the run of a vear time lost in looking for dates, amounts and in stacking the varfous sized instruments in separate piles reaches surprising proportiofls, although no one could say how much. Drafts are sometimes large enough to contain the pictures of all the bank's former presidents. Indians’ Heads Still Permitted’ Personal checks used by women are not to be printed on paper the same size as that used by big com- t | mercial houses, but the amounts will 83% 83K 3% be in the same general location and other facts will be found in spots standardized on all like documents. The grand old Indian's head, the bank building, the portrait of the president or any other favorite em- belllshment will not become relics of the past. A bank’s pet emblems, fllustrations and even colored decora- tions may still be used, provided these typographical idiosyncrasies are con- fined to a particular location. Victor B. Deyber, secretary of the Washington Clearing House Assocla- tion, will bring the matter before the next meeting of this organization in response to a request just received from the American Bankers' Assocla- tion. It is also quite likely that the District Bankers' Asociation will urge the universal adoption of the desired changes. The expense involved in changing banking forms is, of course, very heavy, but is expected to be made up very rapidly in the time saved. Printers of banking sation. ery began to put out new standard forms in many parts of the country on March 1. Bankers Watch Automobile Loans. Washington bankers say that in- stallment buying is looming larger and larger on the banking horizon and the subject is sure to demand and recelve more attention as time pases. More than $3,000,000,000 of new auto- mobiles were sold on the installment plan in 1925, according to a survey made for the American Bankers' As- soclation. The report states that the total amount of automobile paper out- standing at any given time isclose to $1,500,000,000. “So far, automobile paper has been sound,” the report adds. “The loss tio has been very small, and banks fi:u'e had satisfactory experiences with the finance companies. Any ten- dency toward lower down payments and longer time would be the worst thing that could happen in the auto- mobile industry. During the past year, due to competition, there have been many threats of departure from the standard terms.” Trust Company's Views. Purchases on the installment plan are justified when governed by con- servative principles, acording to the New York Trust Co.'s Index. “The theory of installment selling is rec- ognized as sound,” states the Index. “The abuse of the method is the dan- ger that is feared. “It is generally accepted that the article purchased on installments must have more than ordinary value and permanence. Its value, for example, throughout the instailment period must always be greater, despite depre- ciation, than the remaining install- ments. “Also, the Initlal payment must be large enough to be an incentive for meeting the remaining part of the obligation.” Action by the Washington Stock Exchange in unanimously approving and urging the passage by Congress of the bill aimed to prevent the sale of fraudulent securities in the Dis- trict of Columbla was gratifying to the members of the Washington Clearing House Association and the Better Business Bureau, both of which organizations are heartily in favor of the bill. Lack of some such law in the District has greatly handi- capped the Better Business Bureau in its work. In cases where fraud has been found it has been difficult to take any drastic action to change conditions. At present anybody can sell any kind of worthless securities that he to be worthless, Want McFadden Bill Passed. Careful inquiry through the finan- cial district shows that by far the greater percentage of \Washington bankers are strongly in favor of the passage of the McFadden banking bill now before Congress. Hope is expressed that all provisions of the bill will be thrashed out and definite | ! action taken during the present ses- sion. Officials of the local natiénal banks are naturally more interested in the McFadden bill than others, as they will derive greater benefit from its passage. But savings bank men are also favorable to the bill, several ex- pressing their approval of it in very strong terms. One banker said he did not care very much whether the bill was pass- ed or rejected, but said he was very anxious that the bill either be passed or definitely killed at this session. National bank officials, however, con- sider the measure of extreme im- portance not only to their own banks but to the future of the Federal Re- 'serve system. Unlisted Securities Prices. Following are the “bid” and ‘‘ask ed” prices of local uniisted securities, published for the information of traders in these issues BONDS Army and Navy Club & Cosmos G U0 Sy Club 7 etropolitan ‘Club Bid. Asked. Anacostia B Chapin Chapin @ Connecticut. P Christian Heurich partmental Bank... ... District Title Ins. Co.. . Franklin National Bank .. "I“!r T e unsey Trust Co......" North Capital Sav Northeast Savings Bank... .. e id Duteh Mkt. pfd. of Va.. 3 'ark Savings Bank:. ... . otomac Savings Hani Woodridee & Lan. suv. Bank 50 Sharp Decline in Failures. There was a decided reduction in the number of failures in the United States during the past week, a total of 393 being reported to R. G. Dun & Co. This Is practically 100 less than the number a week ago and is moderately below the 416 defaults of a year ago. All sections of the country show fewer failures, notably the West, and both the West and the Pacific Coast had a smaller number of defaults than in this week of 1825. The number of failures in Canada was identical with that of last week, a total of 34 being reported. A year ago the number was 41. METALS ARE STEADY; STEEL OUTPUT GAINS Tin Advanced to Highest Price in Two Years—Copper Con- tinues Stable. By the Associated Pres NEW YORK, March 20.—Active production again featured the steel market during the past week, and, while new business was not belleved to equal distribution, there were evi- dences of improvement in the demand, and prospects were considered favor- able for more general buying with the coming of Spring weather. Prices on the whole were steady. Pig iron was quiet with the demand still confined principally to small lots, but values displayed more stability. Copper has been quiet, but gener- ally steady. With production heavy and European demand restricted, do- mestic buyvers have shown little dis position to meet higher asking prices. Deliveries against old contracts have continued in satisfactory volume however, while home consumption is expected to continued large and pro- ducers are showing little disposition to press for sales. Tin advanced to the highest price in over two years, the outcome of urgent buying occasioned by fears of acute stringency of supplles and in response to the bullish showing in London. Last prices were off from the best, due to freer offerings of Banka tin for nearby shipment. Lead has developed a firmer tone, the recent decline serving to bring in a flood of buying by consumers. Zinc was firmer, with a better con- sumer demand and in sympathy with the advance abroad. ‘With a better inquiry for early ar- rivals at the end of the week a firmer undertone has developed in the an- timony market and prices were higher. HOW IS BUSINESS? Showing Current Business Activity Compared With Same Week a Year Ago New York, compared with the same week of ACTIVITY BY FEDERAL RESERVE DISTRICTS Check transactions compared with the corresponding week of last year. GENERAL 'lVllm! ACTIVITY for the country fon ow Yol eTp] St. Louis o whole, Indleated by bank Inst ear. elane el Dallas__{San Francisco| Chieago inneapolis | Kunsas Olty | 0 07 =i I LEADING BAROMETERS . Showing trend of important factors. Business in dollars (checks cashed) . Employment (Dept. of Labor) . o {lvine, (ndusteial Cont 08! n lerence ‘Wholesale (Fisher’s ricult Movement of goods (car | Retail ‘edel e et of Agwicultire . ure) oadl trotn i 1030 Sieatn S & Wishiisomu FHtt ] | - prevailed in the other groups. Public utllities were inclined to be easier on the usual small offerings. General Gas and Electric was in early supply and sold off 3 points. Eléctric Bond and Share declined a point and lowe? figures appeared ip United Gas and Improvement and United Light. Moderate strength was shown in a |} few industrials, which included a point advance in Continental Baking " Bloomingdale common and pre- ferred issues held steady. Tubize Ar- tificial Silk declined 20 points, selling to 280, but recovered almost that amount on a later rally., In the oils, Vacuum and Humble scored early advances, while Standard Ofl of New York suffered a further loss of 1 point, selling to 32%. Tide- water Assoclated, when issued, showed increased activity. . The tone on the curb market gener- ally during the week was heavy, there being a steady crumbling away of values in many issues which had for a long time been prominent in specula- tive affairs, but strength was shown at times in other stocks, making them prominent. Among these were Safety Car Heat and Light, which made a gain of over 4 points, while many other stocks ‘declined and Southern Ice and Utilities “A,"” which moved up over 3 points. A dozen or more active issues on the various declines from the beginning of the week made a new low record for the year, but many still remained substantially above the low records made on the heavy selling two weeks ago, Some of the specialties were without nearby demand, a feature Wf- Ing American Seating Co.. which Fri- day sold at 251, a loss of 46 points| etz from the preceding sale made a week ago. Bucyrus dropped 30 points. Land Co. of Florida, which has been de- clining steaddly for some time dropped 4 points to the new low record of 22. Many of the public utilities yielded from 2 to 10 points during the week. g Tobacco Magnate Die: HARTFORD, Conn., March 20 (#®). —Albert Helmerichs, president of the G. L. Helmerichs Leaf Tobacco Co., of St. Louis, Mo., died at the Hart- ford Hospital today of pneumonia. He was 73 years old and was on a business. trip East. Asks Damages of Firm. Mrs. Rose E. Bussard, adminis- tratrix of her husband, Otho B. Bus- sard has flled suit in the District Supreme Court to recover $10,000 damages from the Griffith Coal Co. for her husband's death. A truck of the defendant, she declares, struck her husband February 2, last, as he was standing near premises 4701 Connecticut avenue, and inflicted in- juries resulting in his death. Bussard is survived by a daughter and his widow. Attorneys G. Bowdoin Craig- hill and Charles B. Tebbs appear for the widow. Money to Loan SERVICE! 1 am prepared to look after the pay- ments l‘% second trust notes, insurance, taxes and all matters pertaining to same for “protection, of holders. Minimum charges. Bonded. WM. H. KYLE 1410 G St. N.W. Main €627 Our 6, 6! and 7%, First Mortgages —have been sold_without loss to an investor. Your commit- ments are solicited. Allan E. Walker & Co., Inc. 236 Southern Building Main 2690 Scores of Millions o, i Dollars —FHave been invested in FIRST MORTGAGE NOTES_ through our house. EVERY PENNY of the principal and_in- terest on these securities has been paid without gelzy and in full when ue. We haye no intention of lowering the stand- ards which have made this record possible. When you invest here gour money will be AFE, and also yield a liberal interest rate. Write for Bookles Mortgage Investment Dept. 713, 715 and 717 14th St. N.W. puld- in ad: in Ivance, 1,574 .42 Hgll al'rl“h"l ;s <conting Character of business transacted the yoar 1025: Ordinary 1ife and- sroup o t of risk ed dur- o year 19 38,3 ar 102 43, 94.758.350.00 48.757.63 year IFZ‘E 514.802.70 Expended durlng the yes' 1025 161 308.3 M. 0. lovsr{,;:x,i)\i s;:ss W. FLLIS STEWART, Secretary " Subac o . 24th day of Febpuary. Totg oo me this (Seal NORMAN \'.‘AYALI-QO N My commission expires March 3. 15 w. ROSCgE WILKS, upervisor 715 Florida Ave. N.W. 1 e STATEMENT OF TH N 0’ me!: CONDITION Mutual Protection Fire Insur- ance Co. of the District of Columbia On the ©1st day of Decem 5 - qilired under (he Distrirs o?fibxflfi{n‘a‘w‘ $oonded June 30. 1902." and August 18, | Caah in omien .. ANETE. 3 gftereu mn:?‘m!d $996.81 2,063.14 578,03 | 591.95 | * Total labilities 8423083 | Character of business transact Joar 1025—Fire ‘Thearance C on St Amount of risk pssumed durng the year 105 735 r 1633 -$735.400.00 495.05 | A . 267410 the year 1095, 2.1 2 B LAMBIE, Preqient. and r Subscribed and 22nd dagof January. 1029 eR e in (Seal LEE BROW Notary Pub D. Lowest Rates—Best condi ; st conditons OFFERED_TO_BORROWERS, TYLER & RUTHERFORD, LOAN CORRESPONDENTS. Mutual Benefit Life Ins. Co., s Newark, N.J. ° 018 YERMONT ‘AVE. 11 1418 Eye St. N.W. Real Estate Prompt Attentlon en All Applications N. L. Sansbury Co., Inc. Main 5984 R MAREE WE PAY MORE INTEREST| | ON SAVINGS ACCOUNTS | Than Any Other National Bank | in Washington | Interest on DAILY Balances Come in and let us explain | Commercial Natl Bank 14th and G Streets 1 Resources $17,000,000 E. GOLDEN DONALDSON, PRESIDENT| First Trust Money ON HAND —Available for Both Building Loans and Completed Properties | Reasonable Interest and Commission JAMES F. SHEA 643 Louisiana Ave. N.W. FIRST MORTGAGES Money at 5% Very Desirable Conditions. Granted Tyler & Rutherford Loan Correspondent .Mutual Benefit Life Ins. Co.. Newark, N. J. 1018° Vermont Ave. Phone Main 475 Metropalitan Life Insurance Company OF NEW YORK FIRST MORTGAGE LOANS Apply to WEAVER BROS. Houses Business Properties 1321 Connecticut Avenue The Realtors 809 15th St. N.W. . The New York Life Insurance Co. Offers to Make First Mortgage Loans On Irvnproved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland. FOR 3, 5 OR 10 YEAR PERIODS 5%% ON APPROVED SECURITY Apply NDALL H. HAGNER & COMP. MORTGAGE LOAN GORRESPONDENT Apartments Office Buildings Telephone Main 9700 TAKE ADVANTAGE OF . OUR -EXPERIENCE For over a quarter of a cen- tury we have specialized in safe 6%2% FIRST MORTGAGES real estate protecting these securities is of definite Quarter of a Century Without a Loss worth, time. perienced appraisal. and our o ment methods, assure the pay- ment of your interest in full on established by our ex- Its value, proven manage- In Amounts of $250 and Up. B. F. SAUL CO. Main 2100 925 15th St. N.W.