Evening Star Newspaper, May 29, 1926, Page 29

FIN jANK CLEARINGS UP DURING WEEK bains-- Smaller — Southern Dairies’ Earnings—Prices -of Local Securities. BY EDWARD C. STONE. The volume of hank clearings con- nies to exceed that of a vear ago, ough the margin of increase this eek is smialler than was the case last sek. Leading cities of the United 1ates report a total of $8,421,893.000 » Du Review this week ich 1is rer cent more than the * corresponding weel hereax the gain last week was 2 or_cont. With clearings of $3.322,893,000, the snters outside of New York show a ain of 4.7 per cent, while the New ork City figures-—$5,099.000,000—dis. 'nse & decrease of 1,2 per cent.. Increases predominated at the cities wcluded in the statement. the largest ine being at Boston, Louisville, Dal Detroit. Los Angeles, Seattle and artland, Oreg. For May to d: aver- xe dafly bank clearings are 0.6 per nt in excess of the average for a imilar period of last vear. Average dailv bank clearings for fav to date, for the preceding month nd the first quarter this vear are [~mpared below with last v Baarter 1845938 Southern Dairies Sales Fales of Southern Dairies. Inc.. in four months ended April 30 aled $2.948.206. against $1.975,015 the corresponding period of last fear, an increase of approximately 0 per cent. The principal reason for this sharp nturn in sales volume irx the open- & of new plants in Miami and Palm frach. Fa.. and the addition of plants v Virginia and in Baltimore, Md.. hich were acquired last December. nuthern Dairies has been doing busi- ess in Palm Beach and Miami only ince the first of this year. and the o~ Miami plant did not start opera- ans until April. The full benefit om these Florida units will be felt ext Winter, when ice cream earnings " Northern cities begin to decline. The company was bullt around 'hapin-Sacks, Inc., as a nucleus. and nw has 40 plants scattered through- ut the Southern States. from Baltl- are down to Miaml and as far west s Birmingham, Ala. Tmportant plants 1se are located in Richmond. Annapo- s. Greenville, Knoxville, Savannah nd Jacksonville. Bankers Study City's Growth. The claim of the Census Bureas at Washington will have a popul: on of 528,000 by July 1 and become ne of the 14 largest cities in the coun- + has aroused wide interest among [ational Capital bankers. Their chief terest in the announcement hinges n how many new hank accounts they an get as the city grows. 1f the city really growing as rapidly as the ansus Bureau belleves. the hankers hink the growth ought to make & arked difference in the speed with chich new husiness is developed. Inquiry among bank presidents hé that the figures are generally onsidered as too high. They point to he police census taken not long ago. hich made the population 4 he figures being reached by a. hous 0-house canvass. The financial ex- erts say that the police probabiy did oL get a complete record. o that heir fizures are a. bit too low. The ain reason why the Censns Bureau gures are called too high is hecause hey are based upon the ratio of in ease between 1910 and 1920. This eriod includes war times. when popu tion growth was very abnormal. Bankers and merchants are more nterested in the city’'s population (han any other residents. In busin nd banking circles the prevailing pinion is that the eity now has just bout 500,000 people. The steady in- tease in bank clearings indicatex usiness growth. but there in no wayv ¢ telling how much of the gain fs ue to new residents. “1mocal Securities Prices. Following are the bid and asked viees of local securities which are ot listed under Washington Stock ixchange rules, the quotations heing iven for the many holders of these vwnes: sman Club 4% . ity Club 7s.. ... stropelitan Ciub 4% nacostia Bank. acks . \DiN: Ravin 38t [annecrticut ‘ortheast Saving: Id Dutch Mt. p! on Base Bali Club. oodndse & Lang. Sgv. Bk~ 10 ree New Directors Elected Robert V. Fleming, Roger J. ord and Clyde B. Asher have been lected directors of the Columbia iranite & Dredging Corporation to 1l vacancies created by the resigna- ions of M. Beall, Harry V. Havnes nd F. M. Bradley. The directors lected Clvde B. Asher president. He ucceeds Charles J. Rell. who has been acting president =ince the death f Joséph Bradl Mr. Rell, however. ains membership on the - hoard. heremembers not already mentioned nclude G. A. Ronnet. ‘I.. 1. Reeves nd C. W. 8mith. The changes in the irectorate are largely due to the sale v the BRradley estate and others of large portion of the corporation’s tock. W., B. & A. Bonds Are Strong. Reports from Baltimore indicate hat Washington. Baltimore and An- ipolis railroad bonds have recently een stronger than usual. althouzh turnover has been only moderate. fThe main interest of the public in his issue i8 what may be in store for he honds. which are a fi mortgage n the electric railway property. ex lusive of the Annanolis and Chesa- [peake Bay Power Co. As the ma- jority. ‘'of the electric road’s common tock and much of the preferred i now understood to he o he Aldred interests. the he eompany’s principal sccurl in the hands of the investing public. [Both the common and preferred stock of the company is listed on the Wash- ington exchange, but most of the trading is done in Baltimore. Other Financlal Notes. Aohn T. Fletchall of the Potomac avings Bank was slected one of the overnors of the local Institute of [Banking at a meeting recently. When he other members ®ere elected there as. n tie vote, which made another jpecial election necessary. - Total electric output of ‘the North n Co.'s system for the week nded May 20 passed 30,000,000 kilo- tt hours for the fourth time this jear. Exact figure was .90.386.704 lowatt hours. an incredse of: 15.59 ber cent over the corresponding week 1925 fer the same companfex. This the second 1srgest weekly output bt the system this year. iy Net operating income of the Sea- poard Air Line for April ‘rose to 936,773 from $826,173 in_April lust ANCIAL. BURNING OF COKE TO INCREASE | THE EVENING STAR. WASHINGTON, . C. SATURDAY. GREATLY, SAYS ROGER BABSON {Buyers of Fuel Now Have All the Advantage'and the Law of Supply and Demand Will Regulate Coal Prices. BY ROGER W. BABSON: BABSON PARK. Mass., May - At the moment everything is in taver of the buyers of coal. The strike was a complete failure, both sides losing, and there is no fear of a coal strike for at least two years. Hence thete is nothing to worry about con- cerning abnormal labor conditions, which has heen the great uncertain factor in connection with coal prices. This means that prices will be regu- lated this year purely by the old law of supply and demand. There need be no fear of a coal shortage—the supply of hoth bitumin- ous and anthracité is ample for all possible needs. Although now falling off. the production of bituminous coal for the first four months of 1926 was 22.000.000 tons in excess of the same period last year. Anthracite produc. tion, however, is not vet back to normal and 1926 production so far is ahout a0 per cent below the average normal. Conditions are fast hecom- ing adjusted, however, to the new situation and there will be plenty of anthracite coal for every one this coming Winter. The price may not decline at once—until the present ortage of anthracite is made up: but lultimately lower prices for anthra- cite are inevitable. “When diccussing the subject of demand we find everything lUkewise in favor of the consumer of coal Industrial activity 1is falling of stocks of coal are large in view of preparations made for a larger strike: while the general feeling that prices will he lower tends to retard buyin, Therefore, all indications are that the demand for bituminous coal will be less during the ceming 12 months than during the past 12 months. With a constant supply and less growth in demand. T don't see how any higher prices are possible and lower prices for coal are more likely. - Coal Substitutes Increasing. The anthracite producers will never fullv recover from the recent strike because many people will never again return to the full use of anthracite coal, Some have sub- stituted ofl. others are using elec- tricity, while many are using bitum- inous coal or small*“pea” anthracite. Probably the most interesting de- velopment is in connection with the increased use of gas, both for cook- ing and heating. Gas at present varies a0 in price in different sec- tions of the country it is impossible to intelligently comment on it Statistics clearly indicate.’however, that gas is to be much more gen- erally used in vears to come. both for heating and industrial purposes. Surely, if a new city could be con- today efficient planning B in each house or factory. livery of coal through the streets would become as obsolete as inde- pendent drinking wells. All homes and factories would he compelled to use gmas or electricity exclusively. - Of course, such an Ideal: situation may be generations eoming about, but we shall constantly approach it. The sole consumers of coal in vears to come will be the public utility companies. The typical coal dealer will be a thing of the past. This means that the use. of .coke will constantly increase. First, be- cause the more gas ysed the more coke produced, and secondly, because coke has certain attractive features which are not yet fully realized.. For instance, there is no smoke and very little dirt to coke. . There are more heat units per ton in coke than {n eoal although a ton of coke bulks mire and requires more storage space. An analysis of bitumimous coal shows from 5 per cent to 7 per cent ash, 66 per cent-to 60 per cent carbon, 30 per cent volatile gas, 3 per cent water and about 3 per-cent sulphur. Now, when gas is made, this 30 per cent ¢f vol tile matter is released and both the water and sulphur are decreased. This glves coke an analysis of about 10 per cent ash, 838 per cent carbon And 1 per cent each of water and sulphur. As we get our heat Yrom the ¢arbon, it is evident that coke is very worth while especially when mixed with coal. Householders Have Much to Learn. Public utility companies and rail- roads are spending hundreds of thou- sands of dollars each year analyzing their coal and studying the most ef- ficient ways to fire their bollers, Yet vou and T take any coal that.is de- livered to us and fire our boiler any 3o long as it will burn. As a result, many of us get poor coal and waste a very large proportion of what we do get. This means that we should be careful to buy our coal of an honest dealer. 'he cheapest coal is often the most expensive. The ) tion—however—is fast approaching a time when the pennies must again be counted. We cannot much longer live like riotous sallors—spending and wasting—as we have the 10 years. Before long the public schools, churches and women's clubs will be systematically teaching people how to live economically as well as happily. When this time comes, the. buying and use of fuel will be one of the first things taught. As signs that such a readjustment of living expenses iz inevitable, we see that retail sales beginning to curtall. failures among merchants are more f(requent and commodity prices are slowly but surely declining. As no one likes to buy on a declining market, this situation will ultimately be felt by wholesalers and manufac- turers. The stock market is discount- ing the condition at the present time and this is why the Babsonchart has declined from 15 per cent above nor- mal in January to 8 per cent above normal today. On the other hand, 8 per cent above normal is nothing to be sad ahout. It is exceptionally Rood. only every one should be careful to make the best of these conditions | “whila the going is good" and do noth. {Ing to weaken the present situation. (Copyright; 1920, COTTON IS QUIET New Orleans Egchange. Open Today, Steady—Crop Condition Better. By the Associsted Press. NEW ORLEANS, May 29.—Cotton fut opened * steady today. July, 17, hid; Octobar, 17.19; December, 17.20; January, 17.20 bid (1927) March, 17.24 bid (1927). . NEW YORK, May 20 (®),——"The ent. ton market has remained fvery quiet during the past week. Evidently trad- ers. have found nothing in the gen- eral news to create fresh sentiment, and the bulk of the week’s business has been attributed to evening up of accounts in preparation for the Me- morial day adjournment, o far as the local market was concerned. This:in- cluded some undoing of old straddies or transferring of accounts from July to later deliveries, but on the- whole there was very little trading feature, and prices held within a comparative. Iy narrow range. Up to the closs of business today six of the private end- May crop reports had been insued, the condition figures ranging from 68.0 up 1o 72.0 compared with last vear's official and-May condition of 76.6 and a 10-year average of 71.8. LAYMAN DEPOSED. President of Wagner Eleetric éorp. ¢ Is Ousted by Directorate. [ ST. LOUIS, Mo., May 29 (#).—Waldo A. Layman, president of the Wagner Electric Corporation and chalrman of its hoard of directors, was d-posed from this office by a 7-to-6 vote of the, directorate, became known yesterday Layman, ina statement, declared that he had made no plans for the im mediate future, hut daclined to discuss the caze. . In Amgust. 1921, New York banks made,a fight for Laynan's removal. which met with determined opposition by the company's directorate. j.ayv. man’s salary then was reported to have been cut froam 325,000 1o §12,500 per year. POTATO MARKET WEAK. CHICAGO, May 20 (#).—Potatoes: Receipts new stock, 34: old, 35 ecars; total United States shipments, new, 473; old, 269: on track, 192; market weak, trading slow, account approach- ing hollday: Wisconsin sacked round whites, 2.50a2.75 for hest: Minnesota sacked round whi 2.25a2.50; Idaho sacked ruseets, 3.25a3.50: new stock verv weak: Alabama, Texas and Louis- iana sacked Bliss trfumphs No. 1, 3.75 24.00; very few at 4.00. DU PONT AMMONIA FIRM. WILMINGTON. Del., M The du Pont National Ammonia Co. capitalized at $13,100,000, was orgat ized here yesterday as a holding cor- poration for the interests of E. I. du Pont de Nemours & Co. and ‘the National Ammonia. Co., Inc. The | major part of the du Pont de Ne. mours Company’s holdings in the La-: zote Co., Inc., has been transferred to rporation,.of which Jasper rane_is_presiden year: - Sutplus after charges before dadycting stment bond interest as $265,445, against $216,244 a_year gO. . Robert Garrett & Sons are offering’ an issue of §510,000 Real Estate M Rage Guaranty Corporation * Washinigton guaranteed first mortgage. 6 per cent eollateral gold bonds, dated May 1, 192 ay INWEEK'S TRADING 129 (P | Gy | SEEK TO EXTEND LINE. ‘]Annnpolfn and Chesapeake Bay: Co. \ Files Application, Special Dispatch to The Star, BALTIMORE. May 23.—Extension | ot electric lighting and power lines of the Annapolis_and Chesapeake Bay | Power Co. to Savage. Prince Georges County, i requested in an application | filed with the public service commis- sion. Further extension of the company's lines for a distance of about eight miles from Laurel to Spencerville was v residents of the latter com.- About 60 residents of the community ‘of Spencerville desire the ] extension, it was said. The commission has begun an in. vestigation of the need of the pro- reach a decision. within a few weeks. WHEAT PRICES TAKE “"'AN UPWARD SWING: Stocks on Hand for Less Than Usual and Crop Reports Are " ' Not as Favorable Today. By the Associated Press. CHICAGO, May 29.—With stocks of wheat on ha here far less than usual at this time of vear and with crop reports distinctly less favor able than recent glowing advice: wheat values took an early swing upward today. Buying on the part, of houses with Eastern connactions: was an outstanding feature, and afi- er opening % eent off to 1% cent advance, wheat ‘underwent a minor dip and then scored a general up- turn. Corn, oats and- provisions wece | easy, corn atarting 1, cent lower to % cent higher and later sagging all around. - N, In anticipation of a red-letter day, every inch of standing room in the wheat pit was crowded when trading began. Expectance of a lively time, ahead. was partly fulfilled hy an im- mediate upward jump of 11 cents in May quotations. the first preliminary to final settlement of May accounts he- fore the day was ended. As moon, however, s early buyers' wants had heen met. the wheat market: for the time heing’ ancofintered some- thing of-a lull.- and prices oscillated within a ‘moderate’ range of about 2 cents. * Initial deliveries on May coh- tracts meanwhile were of limited vol- ume for the last day of the trading month, less than 400,000 bushels. Yrgent notices from eommission houses. too, were out appealing for a genoral closing up of all open accounts in May wheat at least 30 minutes be- fore the usual finish. FOREIGN EXCHANGE. NEW YORK. May %9 (#).—Foreign exchanges steady. Quotations (in Great Britain, demand, 48634: 486%: R0-day hills on banks, 16. ¥France, demand, 3.21; cables, e Italy,. .demand, 3. cables, " Demand—Belgium. 3.09: v, : Norway, 21.78: 26.76%: Denmark, Switzerland, 19.36. ' Spain, ce, 1.31: Poland, 10.00: : Jugoslavia, 1.76%; .125; Rumania, .40; Argentina, 40.125: Brazil. 16.10; Tokio, 47.125; Shanghai, 72.00; Montreal, 100.125. ——— BUYS OIL LANDS. DALLAS. Tex., May 29 f).—The Magnolia Petroleum Co. yesterday confirmed its purchase of the Luling, Tex.. fleld properties of the United North and South Oil Co.. announcing the consideration as '$12,100,000, sub- vu’ . 10 z‘?my- of the latter con- s stocihal At !mpg:per Kiiows. When_fn “ doubt .about a securit: Evangult Your benker. ‘It 12 squally - ‘much his inferest as your to protect your' savings.: You :tryst him with ‘kyom-, deposits—why not trust him with your' investment:problems? cho- Aus- posed extension, and is expected to]f BUYING IS HEAVY INGENTER MARKET Early-Morning Purchases Are Much in Evidence Today. Early mornjng buyers were very much in evidence this morning. Most of them made increased purchases, realizing they would wanmt supplies to carry them over Monday, when many markets and stores will be closed on account of the Decoration day holiday season. A number of wholesalers will keep open during the morning hours Monday. more especially those who serve hotels, boarding houses and lunchrooms. Dealers did not do the Jlarge busi- nticipated with persons wanting s to take to the coun- try, it is stated, concluding that much of the: buying by such.person pecially.'in ths line of poultry and vegetables, is done in country places. ' Ample Supplies on Hand, . Thers ‘were. Ample supplies. of ; all comodities 1o be had. meats, poultry. vegetahles, frufts, butter and' eggs, and dealers were able to offer. attrac- tive displays. Fruit dealers had large supplies of strawberries, pineapples and cherries and banainas were exceptionally plen- tiful and cheap. Dealers had large supplies .of strawberries from North Carolina, Virginia, Maryland and a few from District gardens, prices de- pending upon the quality of the fruit, and a ‘wide range of prices for pine- apples ‘also was offered. The butter and egx market con- tinued irm throighout the week. No change in butter prices was reported, but there was a slizht inctease .in. egg prices, due. It is siated. to de- mands of packers for stock to put in storage for next Winter. Old sfoek potatoes, supplies getting lighter, are in lmited demand. and the market eontinues firm. Moderate supplies of new potatoes from Flor- da and South Carolina were quoted at from $9 to $11. ’ Tomatoes in Supply. Florida and Texas tomatoes are be ing received in larger quantities and the market continues steady. Some, in fair condition, sold as low as $2.25, while the best stock., fancy counts, brought as much as $7.00. Much more liberal supplies of cu- cumbers and string beans are heing received. Both find ready sale at pre- vailing prices. Moderate demand for a limited supply of Texas Bermuda znlnnl this week made a steady mar- et More liheral supplies of cantaloupes have been received the past few days, many of them soft and offered at ex- tremely low prices. A moderate de mand for the popular kinds is report- ed. Prices ranged from $1.50 to $5. Butter—Fancy. one.pound prints, 46a47: tub, 45a46. Eggs—Fresh. sklected. 31a32; hen- nery. 33a34: current receipts, 29a30. Poultry, aliws—Turkeys, 30. Spring broilers, 45a50. Plymouth Rock broil 52; smaller, 40a fowls, 30a 32: roosters, 20. ducks, 3 . 2 15: keats, voung, 70a30. old, 45a5 Aressed turkeys, 3i: broilera, 55a60 keats. young, 90a1.00; old, 50a60. Live stock—Calves, choice, 12; me- dium. 10al1: thin. 7a8: hogs, heavy and medium, 1313: light, choice, 15: lambs, 16. Meats—Beef. 14a17: lamb, 33a36: veal, 20a dressed pork, heavy. 19 34a35: Western. 30a pork loi hams, 31a34: shoulders. 22a23. Frult and Vegetable Review. Today’s market report on fruits and vegetahles (compiled by the Market News Service Bureau of Agricultural Economicas). sa: Apples—Suppli light: light, market stead: land and Virginia, A 214 saps, 5.50a6.00: Ben Davis. 3.00a3.50 boxes, Washington. medium to large size extra fancy Winesaps, Cantaloupes—Supplies liber mand moderate. market steady: Tmperial Valley. Salmon Tints. . 368 and 45s. 3.50a4.50, mostly .00; standards. 45s, 3.0024.00, mostly around 3.50: ponys, 458. 2.00a 2.50; flats, 12x and 15x, 1.25a1 higher. Lettuce—Suplies, Western stock. moderate; demand moderate, market steadv; California. Northern District, crates. Iceberg type, 4.5 doz., mostly around 5.00, few higher. Onions—8upplies moderate: demand light, market dull: Texas, standard crates, yellow Bermudas, { No. 1. commercial pack, mixed ‘demand Potato Market Weaker. Potatoss—Supplies light: old no early sales reported. ew suppliex moderate: demand moderate, market slightly weaker: Florida, don. ble-head barrels, Spaulding Rose, 17, 8. No. 1, 10.00: South Carolina, cloth-top stave harrels, Cobblers, UJ. S. No, 1, 8.50; few low as 7.50. Strawberries—Home-growns practi- cally supplving market. Tomatoes—Supplies * moderate; de. mand moderate, market steady ‘Texas, 4s, pink, wrapped, 2.00a2.50 mostly 2.25; poor condition low as 1.00; Florida, 6s, ripes and turning. 'wrapped. hest fancy count, 6.50: cholce count, 5.50; some fair condition, doth sizes. low as 4.50. String beans—Supplies liberal: de. mand moderate. market steady; Flor- ida, %-bushel hampers, green, 1.50a 2.00; South Carolina, bushel hampers, green, 2.50a3.00; North Carolina, 5- péck hampers, green, 3.50a4. WE FINANCE ~=8l! clnseen of income-producing property fi Large Loans a Specialty Current int. rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. Prompt_Action First Mortgage Loans Lowest Rates of Interest and Commission | | pany, Inc. Thomas J. Fisher & S 738 15th Street Money to Loan ~We are making loans secured on well located real estate, improved or tosbe im- proved by new build- ings in the District of Columbia. We are also in posi- tion to refinance expir- ing loans. Mortgage Investment Dept. 713 14th St. N.W. Main 2345 mfiv‘”hfi"‘munn and_commission Joseph 1, Wellerigh,mah 1 § ! MAY " 29. 1926. A Sative Investment Which should pay you from ' $6.00 ,to $50.00 & E C KS & | every month for 10 years. 10 Ul e ST a Nl vest to W. __PHONE M- Second Trust Notes Purchased Funds 11 ailable for secnnd it potes on B8 i nu'.v"n:.“ Marviind N Hartons & Compay Main 372 inlam 1108 _16th Rivee pation. Not s Terms to Tesponsible poople. See or Write Mr. Wents. THE AUTOFOUNT SYSTEM “INCORPORATED" 606—9th St. N.W. deea of trust on real estate. REAL ESTATE LOANS ANY AMOUNT ] APARTMENT HOUSES 2 0 RBLSINESS PROPERTY RESIDENCE LOANS AT LOW RATES ESBIT Main 9392 1% First Mortgage Notes Secured on Improved Property Allan E. Walker & Co., Inc. 236 Established '1901 Mais 1st : Mortgafi" Loans i . On improved real estate in D. C. and nearby ~—for 3 or S years or longer. pt af Ample funds. We will gladly receive and give prompt attention to-ap-j plications -for | Loans on Washington Real Eatate Current rates of interest. Should you have Monéey to Invest —we can also take care of you. Our experience, extend- ing over a period of Thirty-Five Years —insur® your protection. Percy H. Russell Co. 928 15th St. N.W. Making Investment Where Investment Means Progress Many men make what is supposedly an ine vestment and find much to their disappointment that it was really a loosing speculation. Never in this firm’s history has an in- vestor ever lost a penny through our First Mortgage Notes Annual Return 6%% Martgage: Invesment Department HANNON: & LUCH 713, 715 and 717 J4th St Main 2345 kT — LIFE INSURANCE COMP, ©OF BOSTON, MASSACHUSETTS Invites applications for loans on Apart- ment Buildings, Busi- ness Properties and to Residences. Prompt action assured! 6% BOSIEHELPS Real Estate Loan Covvespandent 1417 K Street Main 9300 5%2% pital & Surplus, $3,000,000.00 —affords the one safe v way of getting on in life. 1 We're paving interest "to over 460000 individ- uals, and invite you to add your name to our lengthening depositors’ list, THIS PAY DAY. LT Practically amy _amount will ally you with this fifty- nine-year-old bank. Open Until 5:30 P.M. | Twicer #uid Tuesday, Jurie First and Smastl ; 3 Accounts Safe Deposit Boxes at Nominal Annual Rentals DIRECTORS: Woodbury Blair Walter Bruce Howe Wm. A. H. Chureh Reginald 8. Walter C. Clephane Huidekoper H. Rozier Dulany. Jr. Victor Kauffmann Wm. E. Edmondston Charles Minshat! Franklin H. Ellis Edmund D. Rheem Frederick A. Fenning Frank Stetson H. Prescott Gatley Frank W. Stone Willtam D. Hoover William H. Walker Al Bornet. Asst. TV . Calvert, 5 ‘Treas. er_J. Fant, Asst. Sec. ‘Botel John M. sst. Sec. ‘Audley A. P. age. Auditor \ National Savings & Trust Co. 59th Oldest Savings Depository in. Washington ~ Year Cor. 15th and New York Ave. | Getting Money in Bank:i FINANCIAL. Home Life Increases Agency Facilities The Washington, D. C.. and Winches Vi Agéncies of the Home Life Insurance Company of N R have been consolidated and a partnership formed by Messrs. H. R. Bryarly and R. T. Bryarly of Winchester and Maynard C. Burrell of W gton, under the firm name of Bryarly & Burrell, General Agents To meet the requirements of the new firm in giving efficient serv- ice to policyholders and prospective applicants for insurance, the Wash- Uln:'fl offices have been moved from the Woodward Building to larger quarfers in Suite 60, H. L. Rust Company Building 1001 Fifteenth Street N.W. Washington, D. C. Mesers. Wiliam B. Hardy, M. Wellington Allen and Julius ¥. Wondrack of the Washington office will continue their connection with the agency, and Messrs. James R. Du Shane and C. J. Swank, formerly of the Wi h-lterom‘m y, will be associated with the new firm in Washington. The ice at 22 Rouss Avenue. Winchester, Va., will be continued as a branch of the Washington agency under the direction of Mr. R. T. Bryarly as Resident Partner. The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Estate in the Dis- trict of Columbia and Nearby Suburbs n Montgomery County, Maryland FOR 3, 5 OR 10 YEAR PERIODS Houses = BY,0 ON APPROVED SECURITY : Apply RANDALL H. HAGNER & GOMPANY, MORTGAGE LoAN GORRESPONDENT 1321 Connecticut Avenwe Telephone Muin 8700 Apartments Office Bulldings W, he;z?Are You Going Away?. HOSE who purchese our First Mortgage Notes go away and come home with the assurance that their investments are being safely guarded, and with the sstis- faction that their interest checke will reach them in the mall the dey they are due, without fel. ’ This is real comfort in imwest- ment and we suggest you consult us, if you have funds to invest, so that you may profit by the present rate of interest—615%. Swartzell, Rheem & Hensey Co., Investors justifiably place implicit reliance on First Mortgage Notes issued and recommended by this or- ganization of twoscore year's reputable standing. A Squnders (o< ! Founded 1887 1433 K Street—Main 1016 6'4% Convenient amaunta of 3100 and ‘up FOR YOUR FUNDS' SAFETY Your investment funds are safe—protected by sound real estate and yielding regular, productive interest—when vou put them in our 6%% FIRST ‘MORTGAGES A Third * of o Century For a third of a century in- ‘ vestors have relied on these preferred securities to safe- guard, and enhance, the earn- ing power' of their dollars. Never has an investor of ours fost a dollar in either principal or interest. " B. F. SAUL CO. § %25 15th St. NW.