Evening Star Newspaper, June 6, 1926, Page 41

FINANCIATL, ND SUMMARY FOR THE WEEK' Last. Yield. 100 21 100-26 3 85 102-18 102419 876 100-25 100-28 8 67 373 577 369 FOREIGN BOND LIST IS FINDING FAVOR Trend in Higher Yielding | Railroad Issues Also Is Upward Now. SORGE T. HUGHE:! al Dispatch to The Star. NEW YORK, June 5.—The two fea- tures of the invesimenrt situation this week have been the renewed interest! in foreign securities and the increased favor toward the higher yieidipg rail- road bonds While ther was some reaction to- ward the close of the week the trend of prices in foreign dollar bomds was distinctly upward. This was true of both Luropean and South American descriptions. In the former class the leaders were the German and French bonds and to a less extent some of the central European lssues. As far as France was concerned the market took an optimistic view on the war debt situation and it refused to be disturbed b; the fluctuations of the franc. There was even talk at one time of the preparations for a new French loan or dollar credit o be used in stabilizing French currency, once the war debt agreement had been ratified by Congress and the French Parliament. This was o ainly pre- ! mature, to say the least. but the| story was not without marked effact. | Still Has Hard Path. | thing the debt ment | has still a hard path before it, both | at Washington and Paris and many | things can happen before a final solu tion is reached. In the second place it will be no easy task to distribute a | new French bhond issue 1o American investors when the older Irench obli- gations are selling to yield nearly 8 per cent. Buying of German government and | German industrial securities went on even more briskly than in other sec- tions of the foreign list. For the time being exchange differences were fgnored and enly the immediate out- look was considered Proba a cer- 1ain amount of this buying originated on the other side. hese movements are diffioult to trace and an unquali- | fied statement ot be ventured, but, notwithsts the in recent vears, it is still 3rit ish fnvestors are willing to pay high er prices and to accept lower returns on foreign bonds than are Americans The other influence, which was even more effective in turning attention | toward foreign obiigations. v the | Jure of the high return, compared to at obtainable at home. As the gen 1 bond market works slowly high look more attractive o those to whom current income is more important than high degree _of safety. Th doultless the real explanation of upward pProgres in the South American group. a though it is coming to be better understood that the market price of the bonds has nearly alwayvs over- | estimated the risk. { Have Established Themselves. Summing it all up. it can safely be | said that foreign investments, taken as a whole, have estabiished them- | selves more firmly in conservati favor than ever hefore. \Witness the | government For one chang the ternat this wee Intere new high in the junior partly investment and | partiv speculative. wiers had the widespread belief that details of 2 new Nickel Plate merger plan would be announced shortly and that it | would be t In such form as wou'd | command the approval of the Inter-| state Commerce Comm on. Now | nothing stimulates speculative imagi- | nation o much as a prospective com bination. whether in the industrial or | . the railroad field. So there was buy- | ing of the lower priced railway bonds, principally the Erie issues, which are obligations of the road to be taken inte tha Van Sweringen group. That sort market. movement does ng commend itself to the judicious nearl as much as one that is founded upon increasing equities behind a corpora tion’s securtios. Fortunately the ma: gin of ety for a great many of these railroad bonds is steadily grow- ing as earnings increase and the gen- eral railroad outlook becomes brighter. | It will ba two weeks before the May | statements of the railroad begin to come in. but unless business falls off at a rate which no one expects now | results for last month will comvare | favorably with those of April. when. | with the exception of April, 1 . class | 1 roads made a new high record for | that month in total net operating in come. This does not mean that all | the carriers participated equally in ifving gains. Some of tham and some not o well, but in the ageregate the showing was re- markably good Have Discounted Improvement. Probably the market price of a good many railroad securities has already discounted much of the improvement. That is more likely to be the case with stocks than with bonds. At any rate, when an _ventor can find a mortgage seeured bond, not necessarily a_ prior lien either, that will net him 512 per cent or more and is at the same time the obligation of a corporation which is continuously bettering its financial status, and ail this in a rising bond | market, he is not goinz to go far wrong by availing himself of the op- portunit .~ Outside these two groups, the for- elgn and the junior rails, the general market has been rather dull. with no new incentive to buyer or seller. The | very highest grade of investment honds for the present at least seem to have measured the ease in money. Speculative industrials have moved in accord with the conditions in their respective industries. Public utility | offerings continue to he well taken. | but there is a scarcity of the grade, most in demand. first mortgage loans ! of operating companies. BALTIMORE LIVE STOCK. BALTIMORE, June 5 (Speclal.— The general live cattle market holds steady for first-class stock and shows little change in values from last week. Spring lambs especialy are in good demand and, meet with ready sale at tull values, but Fall lambs and old sheep are in only fair demand at this time of the vear and few of the latter are wanted if sheared. Quotations today at Light Street Wharf: Beef cattle, first quality, pound, 8 to 9, Common to medium, pound. 5 to 7. Buils, as to quality pound. 4 to 6. Cows, choice to fancy pound. 5 to Common to fair, pound, 3 to 4. Oxen, as to quality. pound, 4 to 6. Milk_cows, choice to fancy, head, 50.00 to 75.00: common to fair, head. 30.00 to 50.00; rough and common, pound, 7 to 8: small culls, pound, § to 7. Sheep, choice, pound, 7 to 8. Old bucks, pound. 5 to 6; com. mon, pound, 3 to 4. Lambs. Spring, choice. pound, 17 to 171;; fair to good, 14-to 16; Fall, as to size and quality. pound, 10 to 1 Hogs, straight, pound. 13 to 14. Sows, pound. 10 to 32, Stags. pound. 6 t Old boars, pannd, 4 to 5. Live pigs, pound, 25. sqo‘nm pound, 15 to i e — « BEADIN GLEASES ROAD. PHILADELPHILA. June 4 (®).—The | Reading Co. has leased the Lehigh and | New England Railroad Co. for 999 curs, subject to the approval of stockholders and public authorities, it was announced today, railroad | 178 10230 1011 10119 100-16 figh. 100 1 24 95 103% 101% 9% 96 101l 93 £81 83 110% 106% 1084 106% 894 80 103" 95 101% 3% 101% i 101% 1061 i 106 0% 944 1011 9914 9R%; 9874 9 188 983 9 106 105% 105 91 1001 103 108% 927 67 98% 96 102! 18 31% 9Tl 94% 92% 1 8474 83% 7 854 93% 24% 6% 59% 3% 84% 69% 84 3% 101 96 96 5% 90 920 94 101 94% 98 3% 88 97% 9T% 88% 9z 8% 821 T3% 104% 100% 113 106% Bl 344 20% v 95 103% 100' 5 94% €3t 6% 904 2866 Blk . Low. U, §. BONDS. Hi 101=9 99419 Liberty 3%s1932-47..... 102-26 101-21 Liberty 1st 4148 1932-47. 100-31 100-17 Liberty 2d 4148 1927-42 101+14 100-25 Liberty 3d 41451928 103-7 101-29 Liberty 4th 41¢s 1933-38. 108-20 106-9 Treasury 41is 1947-52.... 6 Prev. Low. FOREIGN. 9644 Argentina 63 A-95: 1904 Argentina 78 1927 9614 Australian Goyt 5s.. 100 Austria 78 1943. 8115 Belgium 68 1955. .. 105 Belgium 71g8 1945. 105% Belglum 8s 1941... 814 Bordeaux 6s 1934. . 100% Brazil 8 1941. 102% Canada 5s 1952, 101% Canada 5%s 19 4 100% Chile 85 1926 1071 Chile 85 1941 107 Chile8s1946... 414 Chinese Govt Ry 53 1951. 981; Copenhagen 5138 1944 98 Czechoslovakia 8s 1951 102 Denmark 65 1942. ... 1034 Dutch East Indies 6s 19 103% Dutch East Indies 6s 196 921a French Govt 7148 1941. 9814 French Govt 851945 101% Germarn 7s 1949. .. Couie 78% Holland-Amerlcan s f 63 1947.. 83% Japanese 45 1931. sioive 92% Japanese 6148 1954. 100 Jergens Utd Margar 814 Lycn 63 1934. . 8114 Marselile 68 1934 . 106% Netherlands 68 1972.. ... 7314 Paris-Lyon Med 65 1938.... 1044 Queensiand 6s 1947. . 1104 Queensland 7s 1941.. 974 Rio de Janeiro 85 1946..... 1024 Sao Paulo, State of, 85 1936. 85 Seine, Dept of, 87 Serbes, Crotes, S 10414 Sweden 65 1939 102% Swiss 5148 1946 117% United Kingdom o'y 103% United Kinzdon- 51a8 INDUSTRIAL AND MISCE ovenes §31962. 1 Amer Smel & Ref 1st 55 194 Amer Smelt 1st 6s 194 . Amer Sugar Refining 68 1937. Amer Tel & Telc! tr 481929, Amer Tel & Tel cl tr 5s 1946. Anaconda Copper 68 1853 Anaconda Copper cv deb 7 Armour & Co 4125 1939..... Atlantic Refining deb 68 1937, Bell Tel (Pa) ref 53 1948. ... Bethlehem Steel p m 5s 19 Bethlehem Steel s f 62 1943 Cons Coal (Md) 1st ref 58 1350 Cuba Cane Sug cv deb 83 1930. Detroit Edison ref 63 1940. Dodge 65 1941 Expire Fuel & Gas 71193 Goodrich (B F):614S 1947 Goodyear Tire 8s 1931 Goodyear Tire 8s 1941 Humble Oil & Ref 5125 19; Indiana Steel 5s 1952 Inter Mer Marine s Inter Paper 55 B 1947, International T KKelly-Springfleld 8s 1931 Lackawanna Steel 58 1350. Liggett & Myers 58 1951. i Manat! Sugar s f 7145 1942 4 Midvale Steel 58 1936. . ... New England Tel 5s 1952 Y Edison 18t 6155 1941. Y GasEL H& P 5s 194, Y Tel 4135 1939 v Y Tel 6s 1941 3 North American Ex 19 Pacific Gas & Elec 55 1942.... Pacific Tel & Tel 53 1952. Philadelphia Co ref 6s 1944..... Public Service fs 1944 Sinclair 011 7s 19 Skelly 6148 1927. 103% United Drug 65 1944. . 5 91% U S Rubber 1st & ref 58 1947 106% U S Rubber 7145 1930..... 105 U S Steels f5s 1963. .. Utah Power & Light 58 1944. Va-Carolina Chem s f 75 1947. Western Union Tel 6145 1936 Wilson & Co 15t 65 1941... RAILROAD. Atchison gen 45 1935...... Atlantic Coast Line 1st 4s 1952 89% Balto & Ohio gold 4s 1943 94 Balto & Ohtocv 41451933 9313 Balto & Ohio ref 58 199 102% Bato & Ohlo 651929, ............ £91; B&O Pitts LE& W Va 4s 1941.... 98 B & O Southwestern Div 5 ef350. . Brooklyn Manhat s f 65 A 1968 117 Canadian Northern 6143 1946 804 Canadian Pacific deb 43, 893, Central Pacific 45 1949. ... 97 Chesapeake & Ohio cv 4145 1930. 2 Chesapeake & Ohlo gen 413 199 124 Chesapeake & Ohio cv 55 1946. 51% Chicago & Alton 314s 1950. 102% Chi B & Quincy 1st ref 5s 19 73% Chi & Eastern 11! gen 6415 Chl Great Western 45 1959. 481 Chi M & St Paulcv 41351932, 90% Ch! M & St Paul gen 4135 1989, 481 Chi M & ! 474 Chi M & St.Paulcv 58 e 111% Chi & Northwestern 633s 1936. . 65% Chicago Railways 58 1927. 8744 Chi RT& Pacific ref 4s 1934, 941 Chi Union Station 4135 1964. 115% Chi Union Station 635 1963. ... i ®1 Chi& Western Ind con 4s 1952 1023 C C C & St Lyref 65 A 1929.... 105% Cleveland Term 5135 19 9513 Colorado & Southern 4145 1935 88% Cuba R R 531952 102% Delaware & Hudson & 85% Den & R2io Grande 02 D&RG West 551955. . 90 Detroit United 4%s 19 Erie 1st con 45 1996... Erie gen llen 4s 1996 Eriecv 4s A 1953. .. Eriecv 4s D 1953 FlaEC5s 4. Grand Trunk s f deb 6s1936. .. Grand Trunk 7s 1940 Nasit Great Northern gen 515 1952. ..., Great Northern gen7s 1936....... Hudson & Manhattan ref 58 1957. . Hudson & Manhattan adj 5s 1957. . 1ilinois Central 5% 1934......... Inter Rapid Transit 55 1966 Inter Rapld Transit cv 7s 1932 Inter & Great Nor adj 65 1952. Kan C Ft Scott & M 45 1936. .. Kansas City Southern 3s 1950. Kangas City oSuthern 5s 1950. Lake Shore 45 1928 4 Lake Shore 45 1931......... Louis & Nash unified 4s 1940. Louls & Nash 1st ref 538 2003 Mil Elec Ry & Lt 1st ref 65 61. “ MStP&SSM6i%s1931..... Mo Kan & Tex 1st 45 1990 . Mo Kan & Tex adj 58 1967 Mo Kan & Tex prIn 58 A 1962. Missouri Pacific gen 48 1975 4 N O Tex & Mex inc 5s 1935. New York Cent deb 45 1934. 4 New York Cent ref imp 5s 2013 % 106% New York Central deb 6s 1935. 58 New Haven deb 4s 1957..... 971 N Y N H & H cv deb 65 1948 69 N Y West & Boston 4% 1946 90% Norfolk & Western con 4s 199 138% Norfolk & Western cv 6s 1929. 61% Northern Pacific 35 1947. 86% Northern Pacific 48 1997. ... 108% Northern Pacific ref imp 6s 2047 967 Ore Short Line ref 45 1929. 105% Ore Short Line gtd 5 1946. . 834 Ore-Wash 18t ref 4s 1961. 941 Pennsylvania gen 4145 1965 102% Pennsylvania gen 5s 1968. . . 111% Pennsylvania 6%s 1936 35 Peorla & Eastern Inc 48 1990, 101% Pere Marquette 1st 55 1950 90% Reading gen 45 1997... 941 Reading 435 97. . 743% Rio Grande Western clt 4s 1949. 88% RIATK& L 4%81934........ 89% StLIM&SR&G 451933, . 77% St L & San Fran pr In 4s A 1950. 93 St L & San Fran pr In bs 1950 99% St L & San Fran 5%s B 1942. . 92% St L & San Fran adj 6s 1956 82% St L & San Fran inc 6s 1960 69% Seaboard Air Line ref 4s 1959 76 Seaboard Alr Linead; 5s 1949. .. 91 Seaboard Alr Line con 6s 1945. . 967 Southern Pacific cv 4s 1929 85% Southern Pacific col 45 1949. .. 90 Southern Pacific ref 4s 1955. 81% Southern Ry gen 4s 1956. 104 Southern Ry 1st 551994 112 Southern Ry dev 6%s 195 41% Third Ave adj 5s 1960. . 921 Union Pacific 15t 4s 1947 9% Union Pacific cv 4s 1927 99% Virginlan Ry 1st 5s 1962, 101t Wabash 1st 55 1939 : 991 Wabash 5%s875......, 66% Western Maryland 1s 1952 . 957 Western Pacific 55 1946 83% West Shore 15t 482361440 Ly . 111 95% £94y 924 oeen 100-26 102.25 10028 101.9 103-6 10849 . 108% . 104 .« 104% . 102% . 108% . 108% . 103% . 105% . 105% THE SUNDAY STAR, WASHINGTON, 101-8 103-3 18-9 High. Low. 98% 984 101 101% 98% 984 101% 100 84 83 109 108% W7 106% 86'a 85 1044 108'% 105% 104% 103'% 1024 101's 101% 109 108% 109% 43% 995 101% 1084 1067 105% 9T% 108% 104% 9% Bl 95 109% 86l 6% 109 77 1084 112% 104 1044 88% Y1k 104% 104% 118% 1044 101-5 1032 108 week's Close. 8% 101% 9R'y 101 ¥3% 108% 85% 101% 43n 994 100% 108% 100% 107% 103% Y8t 1084 108's 100% 10 6% 85w 8% 101 974 96 102 117% 1058, 981 108" 1044 | 100 1014 104% ! 104 | the T 877 108 106% | organtz 93 107 1064 | were placed in the hands of 9x1n | Riordon. 1077 112 964 | 924 3% 9 98% | time. 8% | has 103% 1014 | TS WORKING SPACE Changes in Commerce and Savings Institution to Benefit Business. Sweeping changes and ments are to be started at once in the Bank of Commerce and Savings, Seventh and I streets northwest. When completed the bank will have a wider frontage on Seventh street, new mezzanine, larger lobby, new decorations, much m®re convenient ge arrangements and additional office space. It was announced yes- terday that the fmprovements will be commenced this week and will be fin- ished some time in the Fall. The additional Seventh str age will be secured by remov stalrway in the front of th leading to the second flooy way will be reinstalled in on the E street side. and banking room enlarged to take in the additional room obtained in the front and along the north side. This change will make the front fuliy seven feet wider than it now is. The bay window effect is also to be removed, and the whole front and side of the building as far as the second floor are to be constructed o Indiana limestone. These three i ant ch s wild give the building a much more pre tentious appearance on the outside. # Lobby to Be Enlarged. i et front- 1 of the Juilding The stair- the rear the main b the obtaininz of the additional | spiace on the north side of the present | banking lobby. the cages will he mov and more con- ed back several fes Iventently arminged. This change will, the lobby The of course, enla present woodwork about the cages is to be removed and the latest model iron framework substituted. The new will not be as metal work and high as the woodwork has been, and that doing away the hitects sa y with the heavy mahogany Will give the interior a very much more roomy W at appearance than it 1 coutd have otherwise i |~ The plans also eall for the installa- tion of a mezzanine and it is through this addition that the greatest amount of new floor space is to be secured The room adjoining the lobby, re [ the first foor, be turned into of space and the directors will have room on the mezzanine flo adpoining the lobby, the bank's woman he specially decorated In fact, such exten to be made that |even the oldest customers may not | recognize the place when ti n wetor finishes hix work | The Bank of Commerce and |ings was organized on December 1907. and on that day deposits we $44.000. On the date of the last con troller’s ecall, April 12 of this vear deposits were $1.9 1. The bank his 100,000 capital stock, and_t and net profits total $147. tesources were reported on t call as $2.1 1 Since the openin tion has had but one president and hut one cashter. When the bank was 4 and chartered the directors i clected Maurice D. Rosenberg presi | dent and the duties of the cashier i John M of these of the erity wed for fice L new 5| The room served for will furnished ianges are re. cus: i 5.6 | surplus 615 N 1y the institu Upon the shoulder: Aitwo men fall a large share jeredit for the continued p which the institution has enj «t two decades Mr. Rosenberg is a lawyer as well as banker and his large practice keeps him away from the hank much of the Much of the executive work therefore fallen upon Mr. Rior don, who began his banking career in Washinglon as a runner back inj the days when there was no clearing 4! house and the me 1 1o visit the various banks the cush for the checks which they had on {other institutions. Tt was while doing this work that he laid the foundation Wwhich led up to his present position Officials and D) The bank's complete roste {cinls and directors is as follc Maurice D. Rosenber Joseph Sanders. first vice W. A, Bennett nd vice president frvin (¢ rd vice president; eph H Dr. Clar Alexander 1: John M. Rior ank Owings, as- Louis Da 5 R ¢ B A. 8. Gatley Kneessi, M Leese, Harry ver and J F. Maury { 2 . 1 {CROP OUTLOOK SENDS WHEAT PRICE SOARING Upturn Is Brisk—Reports on 1928 ! Yield Disquieting and Market Takes Jump. | By the Associated Press. CHICAGO, June 5 turns today in the value of ! liftea the market to about & cents a | bushel above prices current on Thurs- v Crop reports. both foreign and dome: were disquieting. The wheat closed stronz, 1ia to 25 cents higher. corn unchanged to % et '.\’; Gats showing 3% to 1z cent fain and provisions I cents to 0 cents advance. ”"’l"‘onafluomllm\s of the day in the wheat market came shortly before the finish. Right from the outset de- mind was active and the trend was Manifestly upgrade, helped by the faet that the Liverpool market was fising in the face of big world ship- ments estimated at 15,400,000 bushels, Nkainst 11.691,000 bushels last veal Afeanwhile, Buropean whegt pros pects. especlally _in - Germany and Poland, were reported a >!phl'flhen‘ ive With conditlons for rve in all Euro- pean count the force tinet anxiety o 0 new Winter wheat crop in Kansa: With higher temperatures predicted and advices at_hand some part of Kansas fire, assel large part Andrew Floyd | — PBrisk new up- wheat of this situati of the expected crop in Kansas would shrink rapidly in the | absence of good rains at once. A forecast from railroad sources was a minimum of 125,000,000 bushels, Which would be much smaller than varly figures. Under such circum- Slances big speculative sellers made | Puste to cover. Buying on the part of the general public was a good deal in evidence. Offerings were chiefly from holders able to realize a profit. Corn and oats sympathized with wheat, but were heid back by slow- Mess of cash dealings, whereas good milling wheat is in keen request. Provisions reflected the ~strength both of grain and of hogs. POTATO MARKET STEADY. CHICAGO, June 5 (#).—Potatoes— Recelpts, new old, 49 cars; total United 'States shipments, new. 635 old, 228; on track, new, 64: old, 124 trading " fai riet ahout steady ‘isconsin sacked round whites, 3.00a Idaho sacked rus. New m; Ala- bama-Louisiana Tri- 65a4.75; Texas sacked field O BANK T0 ENLARGE | [t sk e | York curb market today | ries unfavorable. Added to} cpjeq sold well on memorandum and n was dis- sl new prices W over the outlook for the | REIEEC . Gy that wheat in ey is beginning to | SOUENL SHTE L the. auiet smail lot rtions were made that agemand for silks and woolens. 1 D. C. Upper: ) dent of the Bank of Commerce and Savings, which is to_undergo exte sive_improvements. He ix the only president the bank ever had. Lower: John M. Riordon, who has | been cashier of the same since it was founded in 1995, He hegan his financial career bank runner. INTEREST ON CURB IN INDUSTRIALS Goodyear Tire Gains About| Two Points—Utilities Have. Steady Tone. By the Associated Press, NEW YORK, June 5.—Mosat est in the early,operations on the New intef was devoted which a with some nces. Pet to the in in tone was ev ixsues scoring material ad gistent buying in Goodyear Tire wa effective in hifting quotations about points. Gains of A point or more were ablished in Atlas. Portland Cement i Celluloid Co. Western Maryland first preferred moved up 3 points on | a fow smal Baklng shares were | easier Public steady clined offe in V uum points to 101 In the later dealings, which were ac- | companied by pronounced strength in the motor stocks, trading was in re dnced voinme and without a feature | of outstanding activity Llany curb issues moved wide range during the week, sustaining substantial losses. while others made vigorous gains. but the general drift after the resumption of husiness Tuesday was to higher prices. Bullish activities were at times most pronounced in various groups in the Industrial list, and there were some brisk upturns in public utilities, which were offset by sharp declines in the same group. Bonds were traded on'an unusually large scale, sales day alone amounting to nearly 000. The most important changes in that group were in the forelgn f and chiefly in German securities stocks moved slowly. although some fluctuated over a wide range. Most activity was displayed by the miscel- | laneous oil stoc i Baking shaves as a group were in inerensed demand. and the coal stocks were active and Strong. United Gas Improvement the | leading feature in the utilities, moving up 7 points to 10913 on unusually lnrge dealings. American Light & Traction on sniall transactions moved up 8 points, and Pennsylvania Wate power had an advance of over 7 points. Standard Oil of Ohio was one of the few strong features in the oil group, advancing 9 points to 310. DRY GOODS STEADIER. | istrial group. lenced issues maintained a | tone, and oil shares were in to vield moderatelv on smail he greatest 1oss waz made Oil, which dropped 1%z utility over a some New Prices to Be Made Next Week | on Lower Basis in Percales. (EW YORK, June 5 (:’).Al_‘nlmn ds markets were steadier in the 5?3 goods division today. Sales of | 30,000 pieces of shade cloths were made for delivery into August. Per- | be made next week on A better inquiry con: ved for export cotton goods, chiefly “olored cottons. Burlaps were well the week. No change —on many German, Austrian and Hungarian issues are now. pay- able. Gebruder Korting Hung. Dis. & Ex'ge Bank A Magyar *Penzvalto We cash all coupons at current rates of exchange. Lane Rowell & Co. Southern Building Washington, D. C. Baltimore Richmond Norfoll JUNE 6, 1926—PART 1. SECOND TRUSTS Individuals having funds to invest in this | Secured by first deec of trust on real estate. class of security will do well to look over my offerings. Retnrns are ample with ‘minimum of risk Collections and_all other details are looked | after by my office, which is bonded. YLE LOANS—INSURANCE, . ¢ M. 6627 ON SAVINGS ACCOUNTS Than Any Other National Bank in Washington Interest on DAILY Balances Come in and let us explain Commercial Nat'l Bank 11th and G Streets Resources $17,000,000 R. GOLDEN DONALDSON, PRESID] Small 2nd Trust Notes Address Box 51-\, Star Office. WE FINANCE #—al! clasees of income-producing property Large Loans a Specialty Current int. rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. Announcement The National Mortgage and Investment Corp. have moved from 811 Vermont Ave. to 1004 Vermont Ave. NATIONAL PRESS BUILDING FIRST MORTGAGE 65,1959 BOUGHT QUOTED A. S. GOULDEN & CO. Woodward Building Washington, D.C. Tel. Main 9129 SOLD Do You Need Money? + remodel your house to paint and paper and put it 1 condition to sell. —to pay taxes or overdue terest ake care of old bills that have heen worrying you? If vou need money for purpose, let us help you. venient terms—pay on plan. Realty Loan Cec. 1417 F St M. 9411 Open Evenings in Con- budget We have a limited amount of 1% First Trust Notes for sale in denominations of $100, $500, $1,000 AND UPWARD Secured on Real Estate in _the District of Columbia Our experience extending over a period of Thirty-five Years insures your protection Percy H. Russell Co. 926 15th St. N.W. GRAIN Our Grain Ticker Service which supplies all Chicago grain quota- tions directly from the Pit is the only such serv ice now operating in Washington. This serv- ice comes with quota- tions from all other grain centers in the United States. We are fully equipped to execute your orders in a prompt and efficient manner. Dean, Onativia & Co. Members of the NEW YORK STOCK EXCHANGE CHICAGO STOCK EXCHANGE CHICAGO BOARD OF TRADE NEW YORK COTTON EXCHANGE NEW YORK CURB MARKET Woodward Building Main Floor Phone Main 2040 Prevailing {nterest and_comm |Joseph I. Room 210 Denrike Bldg. 1010 Vermont Ave. N.W. . : FINANCIA 41 Second Trust Notes Purchased , Funds immediately " available for seeond irust notes on D. C. and nearby Maryland property, See Mr. Read. Local Arent. at inm urtung & Company 1108 16th Street N.W. Maln 372 We Will Loan at 5% Economic Condition Tyler & Rutherford .oan Correspondent of the Mutual Benefit Life Ins. Co. Money to Loan Welle: PR i Wash. Blde.. vth Announcement Hughes & Co., Inc. Are Moving From 1418 Eye St. N.W. to The Fundamentals of Success —are Hard Work, Thrift and Vision. Indi- vidually they mean nothing, but as a combined force they are the secret of L Future Financial succesfl First Mortgage Notes Secured om Improved Real. Estate in the Nation’s Capital, Yield an Annual Return of 62% #Mortgage Investment Department A Third of a_ Century's Apartment Hou Owners have depended on us for over a third of a cen- tury. We give sea- soned, capable attention to every Apartment need. Not only have our methods standardized profits for many owners, but we handle tenants so as to keep them best satisfied. It pays. B. F. SAUL CO. Main 2100 925 15th St. N.W. Experience Oppoity for Investors Church, Lodge or Trust Funds To investors whose chief concern is ABSOLUTE SAFETY of funds, we offer and recommend our Real Estate Gold Coupon bonds, secured by real estate first mortgages (mostly on small residence properties occupied by owners) which are UNCONDI- TIONALLY GUARANTEED, principal and interest. by the United States Fidelity & Guaranty Company. (Resources $46.000.- (00000 Title to the propertic insured by the New York Title & Mortgage Co. (Resources $29,000.000.00.) he bonds are in denominations of 300 and $1.000, and a choice of maturity dates ranging from 3 to 10 vears is available. The interest vield is 6% plus a local tax refund of 47: mills, an unusually attractive return for such a conservative investment. Interest coupons may be cashed at any k. a convenience lacking in the usual mortgage investme: Further details upon request. Call or write for de- scriptive circular ¢ Chas. D. Sager “Since 1908” FIRST MORTGAGE INVESTMENTS 924 14th Street N.W. Main 36 The New York Life Insurance Ofers to Make First Mortgage Loans On Improved Real Estate in the Dis- trict of Columbia and Nearby Suburbs i Montgomery County, Maryland FOR 3, 5 OR 10 YEAR PERIODS 9Y>% ON APPROVED SECURITY Apply Co. Apartments Houses Office Buildings Business Properties RANDALL H. HAGNER & GOMPANY MoRTGAGE LoaAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9760 Dean, Onativia & Co. Members of the EW YORK STOCK EXCHANGE CHICAGO STOCK EXCHANGE CHICAGO BOARD OF TRADE NEW YORK COTTON EXCHANGE NEW YORK CURB MARKET 11 Wall Street New York City Announce the appointment of MR. HENRY M. CAMP to the staff of their Washington Office Woodward Building Main Floor Phone Main 2040