Evening Star Newspaper, April 2, 1926, Page 31

FINANCIAL. DISTRICT NATIONAL CAPITAL §1.000.000 Surplus and Undivided Profits "About $925,000—Growth Rapid. BY EDWARD (. Robect N, Harper, president of the Digtrict National Bank, announces that in accordance with r ntly ap- préved plane the Institution now has A capital of $1.000.600 and &nrplns and undivided prafits of ap- nyoximately $925,000. which makes | the bank one of the largest in Wash ingion. The increase which was made | to meei the increased demands of fis marks another step in the rapid and continuous growth of the bhank The District National was or- ganized with a capital of §100,000, but | the stock was sold 1o the public at | $110 4 share and §40.000 transterred | to surplus. A few ves later the ! directors increased its capital to $550 000 a purchased the Citizens' Sav ings Rank. The hank was founded in 1908, hav ing taken over hy purchase the pri vate banking Arm of Harper & Co with Rohert N. Harper at head Ttg first location was at 1415 street buj it immediataly purchased the budldinz at 1408 G etreer, and upon the site bullt & commodious bankinz room and office buiiding. It was soon | fonnd that the bank had outgrown | Y'& quarters and it hegan to look wfround for & new fleld for necessary | efpansion. which resulted in the pur | chuse of 1408 G street, and by re modeling its bunilding enahled it to complete one of the largast banking lehhies in the ecity. Mr. Harper announces that deposit now total $8.600,000, giving the stock | A hook value of §195 per share, and tothl assets of approximately $12 300.000. The hank's present officers | inciude Robert N. Harper. Evans, jr. executive W. P. Lipscomb. N. L. Sanshury, vice presidents: Hil- ledry L. Offutt, jr., vice president and cashier; William €. Looker and Theo. | dore S Mason, assistant cashiers Wharton F. Lester. counsel and officer. and B. L. Colton trust afcer The board of directers consists of the following membhers: Ralph P. Barnard, Sidney I. Besselievre, A. P. Crenchaw, Charles W. Darr, Atwood M..Fisher, Flitha Hanson, W. Charles Heltmuller. W. 8. Hoge, ir.: J. Miller Kenyon. Marshall L. King. W. H. Martin, John F. Maury, E. J. Murphy. Charles C. Rogers, Albert Schultei H."G. Smithy. H. L. Thornton. J. . Tyree. Leon S Ulman, Capt. Chester Wells, Sidney West and_Richard H. Wiim, Rapid Transit Reports Loss. There was a falling off in pass trafc on the Washington Rapid Tran 8t Co’s bus lines during February ons a loss Of 310,000 Is reported in the monthly staiement filed with the Public (il tlas Commisaion. The number of pas #engers carried hy the company’s lines ne Fehruary, 1325. totaled 397014 while in Febrn of this vear it | slumped 1o 3827 ] The raport shows that af this lnss $4.710.38 nccurred on the main lines | #f the company inside the District {he tatal operating revenues of whieh ‘rere $36.019.21, with total operating ‘expanses of $41,571.91. Revenues were absut the same ac the corresponding manth of a year agn, hut expensa Were $10.000 higher e Marviand eperation wioin o STONE. | | id-up ligntele its president: Joshua viee president J. Gockeler and to the of Silver Spring resuited in 33.434.14, total operating being $1,523.82, with ex- Patises of $4.496.53 Hints of demands for an increase In fares were heard today unless the § eempany is allowed to operate more of . the double-decked husses, over /WBIch there has heen so much recent centroversy. In April and May last Year when these husses were new to ashington tha company's revenues showed marked gains, while operat- ing costs were much lower on a UMt of the fewer numher required to handle the same or reater amount af trafMe. Rrokerage Honses Closed, In ronnection with the Nen Yark tock day. Gond Friday, all hauses in the city alsn were shu Washington hanks. however open ac ueual taday ten Stock Exchange. although it ope. | rates independently from the New York Exchange, took the day off. hut will be opean as usual tomerrow The banks in Raltimore were closed, 4% Good Friday is a legal holiday in that State, i closing the F Five New Directors Named. Five additions to the board of the Seourity Savings and Commercial Rank were made late vesterday are William A. Hill. of Moore & Inc.. realtors: William (. tornes. Sol Herzog of €. merchants aneix A, Rlundon, | rea) estate. and Ralph MeKee, pro prietor of the Metropolitan Hotel, whn fills the vacancy created hy the re. ceat death af Townler A. McKee. The bank's board has heen increased tn 1% by thece five additions. Bankers Will Take Alr Tonight. ¢ announced in The Star early tn the week, the radio talk to he Ziven this avening in connection with the educational campaign being con ducted by the American Institute of Banking will he from WCAP and the speakers will zo on the air at 9 o'clock The program tenight will consist of | a dialogne hetween E. J. McQuade. Vice president of the Liberty Bank. and John M. Riordos of the, Bank of Commerce fngr. on “Borrowing Money apk. ' Mr. McQuade will the part of the hanker and Mr dof will play a role of the man whe secks 10 horrow, something that up to this time he has known little abaut hey Hill from a N. & W. Sets Records. Grose and freight revenues, revenue frelght tonnage, coal tonnage, surplus after charges and earnings on com- mon tock stood out in the 1925 report | of Norfolk & Western Railway as the | best results the road ever had showed. Copditions resulting from the closing ©f union mines and in the latter part of the vear from the anthracite strike rapsed the record coal tonna yoat, which serves non. Peltis. The road moved 35, 32,580 eluding .680 of anthracite, in Tax Collection Estimate. Tax collections for first quarter of | 2928 may reach $300,000,000. according | to « Treasury estimate, and will be abdut $100.000,000 more than original estimate under reduced income tax =3 partment of Commerce report phows approximately $1.500.000 hats | were imported from Europe in Jan uary to meet Easter demands. §. W. Straus & Co. are offering at rigee to vield 5.85 to 6.25 per cent, a Rrfe mortzage serial coupon hond $ue: of $600.000 secured by the land and five-storv Oak Park Arms Hotel Oak Park, Ill. Interest coupons are pavable Marely 3 and September 1. it | PRICES ARE FIRM [today, with current receipts of eggs {come in iiberally, the prices ranging | {nery. 33a35: current receipts, 30. | toms, | Plymouth ' Rock The Washing. | 2 | nessee, bushel | of March totaled STOCK IS INCREASED. United Light and Power Adds 5.000,000 Shares Without Par. BALTIMORE, April 2 (). The. au- thorized capital stock of the United Light and Power Co. was increascd from 2,000000 to 7,000,000 shares without par value in amendment (o the company’s charter filed vesterday | with the State tax commission. The authorized stock now consists 500,000 shares class A preferred, 000 shares class B preferred. 3,500,000 shares of new class A com mon and 2,500,000 shares of new class R _common. The company operates in lowa, Delaware, Michigan, Tennessee and Indiana. i | of INGENTER MARKET Spring Broilers Beginning to! Come in Liberally at 50 to 55 Cents. Prices held firm at Center Markei | hecoming heavier cents. Spring and bringing 30 to} broilers are heginning from 30 to 55 cents. ties on the market same stronz levels week. Wholesale Prices Today. Butter—Fancy, 1-pound prints, 4%a 0: tub, 47a48; store packed, 30, SRS esh selected, 30a32 Other commoi- emained at the as earlier this | hen- Poultry 4 alive—Turkeys, Spring hens, broilers, 50a broilers, 113 to pounds, 60: smaller. 40a55; white Leg- horns, 30a Winter chickens, »ounds and over, 40a43; fowls, 28a2 20; ducks, voung, 30; old, young.. 7 Dressed broilers, 70; ung, 90a100; old, Live stock— Calv dium, 11a12; thin, : and medium. 13%: light, Meats—Beef, 16; lamb, 2 22a24; dressed pork, heavy, 19. Fruit and Vegetable Review. Today's market report on fruits| and vegetables (furnished by the| Market News Service Bureau of Agri- | cultural Eeonomics) says Apples—Supplies moderate moderate, market steady Maryland and Virginia, inches up, | 5.00; A2, inches up, 5.00a | 5.50, few 6.00: A21; inches up. Yorks, | 4.50a5.00. Boxes, Washington, me. dium to large sizes, extra fancy De- Winesaps and Yellow 5a3.00; bushel baskels, | A2l4 ‘inches, Baldwins, | few high as Bushel | New Jersey, inches, | Romes, scalded. 1.0 Asparagus—Supplies moderate, market dozen-bunch crates, arge outh very toms, a0 demand hampers, A2l demand | alifornia, | ver large size, | . 6.50: medium 3 Carolina, dozen- | crates, large 6.00; | size, medinm size, | .30a4.00, few higher. long green, fine quality: medium’ size, £.00; large size, | 10.00, Cabbage - Supplies mand moderate, ligh steady; bunch large moderate: de- | market steady: new stock, Florida. 115-bushel hampers, pointed type. 2.60a2.75. | Celery—Supplies moderate: demand | moderate. market steady: Florida, 10- | inch crates, 3-6 dozen, 3 ad, preconle 3.95. i Lettuce — Supplies moderate; de mand moderate, market dy: Cali fornia, Imper Icehersg type, H dition, 7 .00; 6 dozen, 3.00 4.00; Florida, 1'2-bushel hampers Big | Foston type, according (o quality and condition, few higher. ! Onions—Suppli demand mod ere v York, setts and Miciugan, 100-1b, s s | Yellows, United States | 3.75; mostly 3.50. | Potato Market Firm. | Potatoes— pplies liberal: demand moderate, market figm: Michigan, 150- Ib. sacks Russet Rurals, |'nited States 1 N+ Maine, 150-1h. sacks nited States No. 1, | " - | Spinach — Supplies moderate: light, market slizh bushel haskets Virginia Nor veneer els few higher Strawherries—Supplies liberal; de mand moderate for good stock. slow for peor stock, ma unsettled:; | Florida. ponv refrigerators, mostly ordinary quality and condition, 35a40 ver quart; few fancy, 55; some moldy, leaky, low as Sweet Potatoes—Supplies moderate; demand moderaie, market dull; North | Carolina, mostly ordinary quality and condition, cloth-top stave barrels, Porto Ricans, No. 1. 4.00a4.50; Ten impers, Nancy Halls, ok section, i Savoy type, No. 1. 2.30a2.60. Caulifiower —Supplies light: demand moderate. markei firm: California, crates mostly, 2.23; few fair condition tower, Tomatoes- Supplies moderate: mand good for good stock. market «teady. Cuba, 3-pan cartons, ripes, viapped, repacked, choice count, 3.00 43.15. Mexico sixes, ripes, wrapped. repacked, cholce count. 8.00a10.00, ac cording to condition. best mostly 10.00, Floiida. originals, sixes, ripes and turning. wrapped. good quality and condition. fancy count, 7.30: choice count, .50, Carrots — Supplies hight: moderate. market firm: Tex: baskets mostly. 2.00; few. 1.80. - Beets—Supplies very light, too few sales to establish market. | Peas—Supplies lizht, demand mod erate. market slight fornia. 45-pound cr: Mexico, 45-pound cr: Ezgplant—Supplies moderate, per crates. Peppers moderate, de- | demand bushel light: market steady: Cuba, 9 5.00. ) tha, pep- - Supplies market e, 4.50 Supplies liberal ate. market slightly Cuba, pepper crates, white, 4.5025.00: ome large size low as 1.00. String Beans—Too few early to establish market. light steady; 00, demand Cuba, sales | BALTIMORE PORT TRADE. Special Dispatch to The Star | BALTIMORE. April Arrivals at the port ®f Baltimore for the month 263 vessels. an_in- crease of 38 over February. which® al though a short month. outnumbsred arrivals in January. American ton nage led. with 177 steamers and 5 sea- ing schooners, against a total of 225 in January. Great Britain was rep- resented by 34 steamers, an increase of 9. Other nations were: Nerway, 14 Italy, 8: Denmark and Japan, 5 each Germany, 4: Greece, 3; Sweden, Hol land and France, 2 each; Jugoslavia and Belgium, 1 each. | BALTIMORE TRADE HALTS, - Special Dispatch to The Star. BALTIMORE, April 2.—Stock, grain and produce markets are closed today Good Friday, a legal holiday in Mary- land. State and municipal offices, banks and many of the larger indus. tries of the city are also cloged. | the advance during [ as it is not a leg: | until Monday | Receipts, 13.000 head: uneven, mefium | Tk, | packers: !larger than for many | of 73,507 tons, of which Italy took 48.- COTTONTRADING OF WEEK NERVOUS Apprehension Over COmingi Crop Is Reflected in Price Advances. By the Assnciated Press EW YORK, April Increasing nervousness over the start of the coming cfop has been reflected by ad- vances in the cotton market here dur- ing the past week. Further rains and unseasonably Tow | temperatures over the South have been coupled with complaints of de- layed farm work, and while ‘the bulk of the demand has been attributed to people who have sold during February or early in March, some little broad- ening of both trade and investment demand has heen reported. | The buying tapered off as prices reached the 18.cent level for October { contracts, or after an advance of about 80 to 90 points from the low levels touched at the beginning of March. Moderate reactions followedy under profit-taking, which was prob ably promoted by the approach of the Easter holidays and reports that the | higher prices were bringing out rather freer offering of spot cotton in =ome of the Southern markets. A continuance of unsettled weather proved a check on selling otherwise, however, and the market showed a generally steady undertone toward the | end of the week. | The opinion most generally ex- | pressed by local traders is that de. | lavs to farm work during March may | not prove of much consequence in the long run should weather condi- tlons during April be favorable. A late start for the crop would be con- sidered very unfortunate as increasing the risks of boll weevil damage dur ing the Summer, but the feeling ap pears to be that there is still plenty | of time to plant and some operators think that with a week or two of reall good Spring weather, s over any delays o far soon disappear This idea of the situation may have | heen partly responsible for checking the earlier par of the week, but prospects for re newed rains over the Easter holidays had a sustaining effect on vesterday's market Only one of the private reports on acreage prospects has heen fssued so | fa) It pointed te a prospective i duction of ahout 2.3 per cent in acre. | age. but an increase of 2 per cant in the use of fertilizer. These figures | were without apparent effect on the market, which would suggest that the trade is either waiting for later and more conclusive veports ar that the percentages indicated were ahout in line with expectations. | steel | plant Is included | pleted COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY CHICAGO, April 2—Another de-| cline of 25 cents In scrap iron and prices ix looked for in this district. The market is quiet and weak, with $13.75 to $14 expected to be the price by Saturday. CLEVELAND. — The American Steel and Wire Co. is spending $200.- 000 on a_boller house, while the Mc- Kinney Steel Co. is finishing a $500.- 000 improvement program hegun last WIL BARRE. — Buckwheat eoal, which formerly sold at 80 cents | ton. if sold at all, now has risen | 0 a ton at the anthracite mines. | s attributed to a campaign of aducation by mine operators who showed householders how to ohtain results by mixing this coa) with more expensive sizes BOSTON.—Henry G. Lapham, director of the Texas Co. and CaliforniaPetroleum Co., who Just returned from a tour of thel properties in the West. predicts the| most prosperous vear in the oil in-i dustry since 19 HATTIESBURG, Mis he mar Lumber Co. has purchased @ores of hardwood timher lands along the Pearl River from 8. T. Co. of New Orleaps for more than £1,000,000. A band mill and veneer a the has I LINNC REEK, Mo.—Deposits of zinc | have heen discovered on the Nixon- | Thompson Mining Co. lease in addition | to the lead deposits already known 'COTTON GROWERS’ BODY | CONFERS WITH JARDINE the | xchange | AKRON —Rubber companies here | report a quickening of demand for | tires from the South, where Spring | activities are in full blast. Tire com. | panies are maintaining a discreet silence on prices. Some companies are undertaking additional finaneing to meet high raw material prices. | PORTLAND—The \estern Pine | Manufacturers’ Association mills last | \eek received for 25,876.000 | feet. shipped 26,236,000 feat and pro. | duced 30,000,000 feet PHILADELPHIA—The Barber wholesale grocers. wh f the policy of withdraw all salesman from the d and! abolished eredits, has absorbed the | old established firm of B. 8. Janney, | it Co.. Ine., in business 75 vears, BASTROP. La.—The Bastrop Pulp | and Paper Co.. which has just com-| its_pulp mill here,” has that it will begin ar fte capaeity at a cost an- | once | ot nounced doubling £2.000,000, SINCLAIR OIL REPORT SHOWS BIG SURPLUS | Conditions in 1998 Better Than WALL STREET BRIEFS| | W YORK. April 2 (#).—The New | sk Stock Exchange and all other securities and commoditics markets are closed today in observance of Good Friday. The hanks are open 1 holiday. The Stock Exchange will resume husiness for | the usual two-hour session tomorrow. | but the Cotton Exchange, C‘offee and 1zar Exchange and Rubber Ex changzes will take a three.day recess The Produce Exchangze | will he apen tomorrow. European ex | chanzes zenerally will suspend until after Faster. = i Structural steel nrderd last week aggregated 20.000 tons, the largest in dividual order being 4.000 tons for the Ilinois Central repair shop. awarded | to American Bridge Co. Pending in aviries total 31.000 tons. | York George A Muir hought the *Stock seat of Fisher A. Buell for $135,000 vesterday The previous sale was £150.000 of w Orders hooked by General Electric | Co. in the first quart this vear were | approxima $85.000,000, “compared | with $83 i in the first quarter of | 1925, and $ 660 in the last quar- | ter of 1925, Operations are at 70 per | cent of capacity. . CHICAGO LIVE STOCK MARKET CHICAGO, April (United States | Department of Agriculture)—Hogs ind heavy we hutchers aull; few | <ales ahout stendy: hiz packers hdding | sharply lower: lighter weight mostly | 10 to 25 higher: 210 1o 300 pound ! hutchers. 11.40212.60: hulk desirable 200 to 235 pound weight, 12.50a13,20 majority hetter, 180 pounds down, | top on 140 to pound | . 10.40a | 14.00 down: | a12,40 m dium, 11.50a13 4013.85; light light, 12.50n13.85; packing sows, 10.40a10.90: slaughter pigs. 13.50a14 00. Cattle-Receipts, 4,000 head: week-end demand narrow. most classes steady to weak: spots. 10 to 15 lower on fat steers as well as she stock: best ma- tured steers, 10 vearlings. 10.25 850a10.00: killing quality of steer run rather desirable: moderate supply of auality and condition to sell | AL 9.75a1050: vealers, 10.00a1050 1o choice kinds, 12.00a13.00 to outsiders, Sheep-—Receipts. 14.000 head: ship ping Aemand for desirable lizht and handyweight broad. few loads tn ship pers upward to 14.00: other desirable lambs. 13.30213.75. around 15 higher. Sheep and shearing lambs scaree no early =ales, prospects fully steady. s ey BUTTER UNCHANGED. CHICAGO. April 2 (#A).—Butte changed: receipts 09 tubs: lower: receipt cases: firsts, 281, ordinary firsts, 2715: storage extras, 301;: storage firsts, un eggs, COAL EXPORTS GAIN Special Dispatch to The Star BALTIMORE. April —March ex ports of coal from Baltimore were months. A total 14, was taken out in seven steamers, tons w rrders, and a Algiers, 1,429 tons, Venezuela POTATO MARKET STEADY. CHICAGO. April 2 (#).—Potatoes— Trading light. market steady: total United States shipments, 6% ca; 33 Canadian. Wisconsin round whites, 4.5024.70, mostly 4.60a4.65; Minnesota sacked round white: 40a4.55: Tdaho sacked russets. 1.60a4.80, mostly around 4.70. Receipts, 3 cars. BAR SILVER PRICE. NEW YORK. April 2 (#).—Bar sil- ver, 65'; Mexican dollars, 50, DIVIDENDS. - Pay- l“‘?" to Gibraltar for arzo of 6.985 tons went Exports of coke totaled of which 1031 went to Stock of recorde | .10 17 37 Carp. Abitini P & P Am Globe pf Atlant Rfe i o1 Con 1J VR .80 Bolder's option. 80| 00, 50 Ap: b Hrte 00| r. 13 are ot e st | $1.01 | compared Last Year, Head of Firm Says. Predicts Prosperity. Ry the Ascociated Pre NEW YORK. April 2.—Sinclair ¢ =olidated Oil Corporation’s annual port for 1925, issned vesterdayv, show surplus of §6.002793 after deprecta- tion and depletion. in contrast to a ! deficit of $2,149.268 in 1924, This is equal after preferred dividends to share on the common stock. nnderlyving econditions of the petroleum industry in 1925 er than in 1974, sald H. chairman, “and during the fi monthe of 1926 have shewn still fur. ther improvement. Consumption of petroleum product is showing marked | increase over fast year and all indi cations point te inecreasing prosperity = the balance of the vear.” Gross earnings were $159.514.216, with $128.894.048 in 1924. | Net earnings after expenses and taxes | 44,647, against $16.476.930. fier preferred dividends was | 7,319, compared with a deficit of $2.148.842 the vear before he corporation’s funded hase money obligations Auced $3,376.360 from earnings and current Assels W increased 2,318,347, More than $12,000.000 was invested in development of new pro duction of crude ofl, acquisition of oil leases and extension of marketing fa ellittes and termingls. chiefly in the Eastern and Southwestern sections a “The debt and were re- | 'FAVORABLE BALANCE OF U. S. TRADE DROPS But Four Months Remain for America to Equal Last Year's Figures. But four months are left Unlted States to make up the wide difference between its favorable trade halances for this and the last fiscal vear. Figures made public vesterday by the Commercé Department for the elght months ended with February <how the excess of exporie over im- | ports amounted o $328,123.312. as azainst 36,423 for the same p last year. Explaining these fizures, together | with the excess of approximately $55. | 000,000 in January and February of imports over exports, Secretary Hoo- ver said several factors must be con sidered. such as higher prices paid for imported rubber and a décline in ex. | ports of crude materials and crude | foodstuffs, which alene fell off about $50,000,000 in rebruary as compared with the same month last year. The Secretary would not predict whether figures for March and the-re. mainder of the fiscal year would show gains sufficient to bring the trade hal ance in this conntry’s favor up to last vear's figure. He reiterated. however, that the favorable balance in mer chapdize would have to total $600,000.- 000 or $700,000.000 if the invisible bal ance representing tourists’ expendi- tures, emigrants’ remittances nl\fll other forms of American investments | abroad was to he offset | - . NEW BARGES NEEDED. Special Dispaten 1o The Star. | NEW ORLEANSE. April 2.—Freight | offered the Mississippi and Warrior Rivers barge lines has reached a | volume where many new barges are needed to handle it. according to Gen. T. Q. Ashburn. head of the Inland Waterways Corporation. Twenty-four | new harges are nearly ready for the Warrior River service. and 10 will be added to the lower Mississippi River service in the next few weeks. FACTORY COXNSTRUCTION. Special Dispatch to The Star. CLEVELAND. April for the | riod 2.—Contracts {for about $2,500,000 of factory con- struction have been let here so far this | year, of which the $800,000 addition | to the Otis Steel Co. plant was the largest individual job. The Ohio Bell Telephone and Ohio Public Service Cos. have extensive programs under way. 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 investment problema? » | share. { stock | said in reply to a question, that he has given us some good | 1ation and are seeking their | ed Federal 800W.,B. & A. SHARES, PREFERRED, ARE SOLD Other Large Blocks Going Without Record, It Is Intimated. Street Puzzled. Special Dispatch to The Star. BALTIMORE, April 2.—More than 800 shares of the preferred stock of the Washington, Baltimore and An- napolis Electric Railroad Co. changed hands on the Stock Exchange at 23 vesterday. The shares sold at that price throughout the demoralization in the market. Transactions on the Stock Exchange are not an accurate gauge of the sales of thix stock. If reports be true. Sizable blocks have changed hands without record. it {= intimated. There have been no sales reported of the common stock for sume time. the present quotation being 8%, bid and 10 asked. The wide margin in prices of the preferred and_common stock puzzles the Street. The pre ferred is non-cumulative, and so far as a dividend on that issue cerned, it is so remote worth seriously considering. The par value of each issie is $50 a There is, however, only a lit tle more than half as much preferred | stock issued as there is of common Reports persist that J. E. Aldred and associates are still accumulating the Mr. Aldred. however never admitted that he is inferested in the propert The executive committee American Cotton Growers' conferred yesterday with Secretary Jardine on pending measures for farm relief, (. O of the exchange, had not decided upon any relief mea. ure and came to Jisten to the Secre tary'’s views, rather than to present thelr own. the conferen: Jardine discussed tion at some length of farm AMr. Mo ‘we feel that advice, although there were some dif erences in matters of detail.” The committee later went into execn live session to formulate a policy which it expected to shortly. The committee changed the place of meeting from Memphis Washington, in ovder to confer farm oup leaders from the corn he who are promoting farm relief lezis for some bill embodving the ple of an equalization fee STATEMENT OF FEDERAL prine RESERVE OF NEW YORK The NEW YORK. April ) statemeant of the condition of the Fed eral Reserve Hank of New the close of business March 31 shows Total gold reserves, $1.006.324,000 total reserves, $1,049.493.000; bills dis. counted. secured by Government war obligations, $100,987.000: a1l other, $5 738,000; bills hought in open market $63.620.000; total United States ( ernment securities. ¥5 o hiYé and securities, 000: collected items. $141. due members, reserve account, $462.0 000 1otal .deposits, $416,060.000 Federal reserve notes in actual eir culation, $371.783.000; ratin of total re serves to deposit and Federal reserve note lahilities combined. X1.5 per cent MENGEL C0. REPORT. LOUISVILLE. Ky.. April 2 () The annual report of the Mengzel (o and subsidiaries. made puhlic vester day. shows net profit< of $5 for . after deductions for depre. clation, interest cha s and estimat income taxes. The com added $343.689.91 to su makin 13 00 un pany count, Mosher, general manager | said the committee | announce with York at hat item $1.454,570.29, is con- | to be not | WE FINANCE ~all classes of income-producing proerty Large Loans a Specialty Current int. rate and commission Higbie & Richardson, Inc. | t Continental Trust Company Capital One Million Dollars 14th & H Streets BrE— AN TR, P— o Eovmmrm First Trust Money ON HAND —Available for Both Building Loans and Completed Properties Reasoncble Interest and Commission JAMES F. SHEA 643 Louisiana Ave. N.W. Stocks Bonds 0dd Lots Carried on Margin has | at which Sec. | relief her nsual | support | !n-la!‘ to 290,91 | Buck & Company —BROKERS— Fatablished 1916 312 Evans Building 1420 N. Y. Ave. NW. Tel. Franklin 7300 Direct Private Wires to New York 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 COLUMBIA PERMANENT BUILDING ASSOCIATION PAYS 5% Assets Over $700,000 733 12th Street N.W. a Melvin €. Hazen, Pre ident Flovd E. Dav Clarence 1. Gessford, Trea-urer Secretary FINANCI Money to Loan Secured by firet deed of trust on real satats. | l’rflafllnwlnleren and i 'Jouph L. Weller 439, REAL ESTATE LOANS ANY AMOIT RESIDENCE LOANS AT L.OW RATES FRED T. NESBIT INVESTME BLDG. Main 9392 T | 4 JOHN JOY EDSON, President Organized 1879 Assets $5,031,814.86 the e to This way you can build up a s saving through pay and continue fortune. FOR 3 Honses Business Properties MORTGAGE Loaw A Third « a Centu Main 2100 | | We Serve Owners of Property —of every type—houses, apartments, stores, busi ness buildings. \We spe- cialize in cost-finding, analyzing potential prof- its and applying methods to increase vour income. A third of a century’s ex- perience is the sound basis of our service." B. F. SAUL CO. 925 15th St., NOW. Secured by first d 713 “AND IN FERFILE THE SELECTION OF SEEDS AND THE COLLECTION OF SAVINGS FTER the farmer has harvested his crop he saves the largest ears of corn for Spring planting so that His next crop shall be even better than the last. The systematic saving of a part of all earnings insures greater producing power and future independence. Our partial payment plan will explain how by the ving of a few dollars each month you can purchase a dependable investment. First Mortgage Notes ANNUAL 6% % Mortgage Investment Dept. RETURN 713 14th St Ma SOIL—’ Furniture Carpets BUSINESS FURN = A phone call will brin in Equitable Co-operative Building Ass'n Subscriptions for the 90th Issue of Stock Being Received The Systematic Saver Accomplishes Most Equitable. regnla The New York Life Insurance Co. Ofiers to Make First Mortgage Loans On Improved Real Estate i the District of Columbia and Ncatby Suburbs in Montgomery County, Maryland 5 OR 10 YEAR PERIODS 5%% ON APPROVED SECURITY Apply DALL H. HAGNER & GOMPA.\'\') 1321 Connecticut Avenue Money to Loan Estate in the Nati Current Rates Prompt Reply [SHANNON: & LUCHY 715 and 717 14th Street Main 2345 AL, Since 1901 Our 6, 6', and 79, 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 Metropolitan Life Insurance Company OF NEW YORK FIRST MORTGAGE LOANS Apply to WEAVER BROS. Realtors 809 15th St. N.W. Main 9486 FRANK P. REESIDE, Secretary 46th YEAR COMPLETED Surplus -$1,352,749.93 ' I | day arly. mall Apartments Office Buildings GOoRRESPONDENT Telephone Main 9700 ed of trust on Real on's Capital W. B. Moses & Sons Established 1861 Linens Upholstery ITURE AND EQUIPMENT Steel a representative Wood or vour convenfence Main 3770 Especi dential security For details phone ally Good First Mortgage Notes with twice their face value in splendid resi- are now being closed out. 6Y2%