Evening Star Newspaper, July 21, 1926, Page 25

FINANCIAL, FLOOD OF PEACHES IN CENTER MARKET Prices Are Low—Melons and Apples Also Are in Abundance. Georgia peaches have flooded - the local market and brought prices to such a low point that housewives al- ready have started making canning purchases, fearing late fruit may not be so plentiful and cheap. Liberal supplies of Hileys and Belles, mostly in splendid condition, the past few days met so slow a de- mand that the market weakened and prices dropped. Prices quoted ranged from $1 for poor stock to $2 for top stock. Heavy supplies of apples and wa- termelons and 'liberal supplies of can- taloupes served to give local dealers more fruit than they could readily dispose of to advantage, Cantaloupes Cheaper. Arizona Pink Tint cantaloupes, es- pecially heavy fruit, brought from $3 to $4 this morning. South Carolina Green Meats sold at $2 for top qual- ity to 90 cents for poorest stock, Cal- I‘fornia stock selling at from $1.25 to 3. ‘Watermelons in the local market came from South Carolina, Georgia and Florida. Tom Watsons, 30-32- pound average, brought 40 and 50 cents. Most of the apples on the market are from Virginia, prices quoted ranging from 50 cents to $1. A continued draggy condition of the meat market was reported this morning, and dealers in other lines of foodstuffs also reported business quiet, a condition that is expected at this Senson. Today's Wholesale Prices. Butter—Fancy. 1 pound prints, 46a 47; tub, 45a46 ore-packed, 28. Eggs—Fresh, selected, 30; hennery, 30a31; current receipts, 27. ° Poultry, alive—Turkeys, 38; Spring broilers, 38a45; White horns, 3b6a 36; fowls, 30: roosters, ducks, young, 20; old, 16; keats, young, 70a 80; old, 35a40. Dressed—Turkeys, 40; broilers, 40a45; keats, young, 90a1.00; old, 40a50. Live stock-—Calves, cheice, 12; me- dlum, 9; thin, 6a7; hogs, heavy and medium, 13%; light, choice, 15; lambs, 13a14. Meats—Beef, 17a18; lamb, 30; veal, 18; dressed pork; heavy, 19; pork loins, 85a36; Westarn, 30a32; hams, 32a3 shoulders, 24a25; fresh hams, 32a34; fresh: shoulders, 25. Fruit and Vegetable Review. Today’s market report on fruits and vegetables (compiled by the Market News Service Bureau .of Agricultural Economics) says: Apples—Supplies heavy; practically no demand or trading; too few sales to establish market. \ Cantaloupes—Supplies_ hea de- mand, very light, market weak; Ari- zona, Salmon Tints, standards 45s, 45s and 545, 2.00a2.50; 1.00a1.25, mostly 1.00; Pink Meats, flats 12s and 15s, .90a1.00, California, Turlock Section, Salmon Tints, stand- ards 45s, 3.00a3.50. North Carolina, Green Meats, standards 27s and 36s, mostly around 2.00. Lettuce—Supplies_liberal; demand light, market dull; New York, 2 doz. crates Big Boston type, 50-75. Onlons—Supplies moderate; demand light, market dull; Texas, standard crates, Yellow Bermudas, U. 8. No. 1, 2.00. Virginia, East Shore, bushei hampers, vellows, U. S. No. 1, 1.00a 1.25. Peaches—Supplies liberal: de- mand _slow, market weak; Georgia, sixes Hileys, medium to large sizes, 1.50a1.75; small sizes, 1.25; wasty, 1.00; bushel baskets Hileys, medium to large size, 1.50a1.75; small size, d Georgia, bushel baskets Belles, me dium size, some soft, 1.00a1.25. Potatoes—Supplies moderat de- mand moderate, market steady; North Carolina and Virginia, East Shore, cloth top stave and slat barrels Cob: blers, U. 5. No. 1, 3.50; poorly graded, .00. ‘Watermelons—Supplies very heavy; demand very light, market weaker: Florida, Georgla and South Carolina, Tom Watsons, 30-3¢ pound average, 30a50, some wasty low as 15 each. Lima beans—Supplies moderate; de- mand light, market dull; South Caro- lina, bushel hampers, best, 2.50; poor- er, 2.00. & Corn—Too few sales reported to quote, Cucumbers — Supplies ~ liberal; ~de- mand light, market dull; North Caro- lina, bushel hampers, fancy, 50a1.00; Virginia, Fast Shore, bushel hampers, fancy, mostly around 1.00. Peas — Supplies moderate; demand light, market steady; New York, bush- el baskets, Telephone: 5a2.5 tons, mostly around 2.00. Okra—Supplies light; demand light, firket dull; Florida, bushel hampers, .00. ‘WOOL QUOTATIONS. BOSTON, July 21 (Speclal).—With topmakers taking little wool at pres- ent, most of the gurrent business is with mills, and it is not yet evident that mill buying has been given impe- tus by orders received for lightweight goods. Quarterblood fleeces and ter- ritory wool comprise the bulk of the business. Some fine French combing wool has moved at 1.00a1.05 clean basis and Texas 12-month staple at 1.05a1.10. BANK CLEARINGS. NEW YORK, July 21 (Special New York bank clearings, $916,000 000; New York balances, $89,000,000; New York Federal Reserve Bank credits, $79,000,000, A B FOREIGN EXCHANGE. ‘(Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks id valug 3 London, pound. ollar 0, or /m. 21 Stockhol. erown. 2680 NEW YORK, July 21 (#).—Foreign exchange steady. Quotations (in Great Britain, demand, 485%:; cables, 486%; 60-day bills on banks, 482. France, demand, 2.15%; ¢ables, 317. Italy, demand, 3.24%; cables, 6%, Demand: Belgium, 2.26; rm: » 23.80; Holland, 40.18 r\orguqye 2194 A Denmark, 26.50; Swit- 19.36; Spain, ’l!;gxcrm Rumania, ".453%; Argen Brazil, 15.31%; Tokio, 47.18%; SI hai, 71.25; Montréal, 100.14 1-16. .. NEW YORK, July 21 (#).—Copper very steady; electrolytic, spot and fu- tures, 14%. Tin, easy: by, 63.50; futures, 63.2 prices unchanged, 8.50. Antimony, ‘spot, steady; East St. Louis pures, 7.9 ‘NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN. NEW YORK, July 21.—Realizing sales made themselves felt through- out the gredter part of today’s curb session. The heavy selling yester- day caused a good deal of uneasiness among holders of stocks who had been anticipating @ real bull market. No longer sure of their position, they hastened to even up accounts where this could be done profitably or at a small logs. With the “market in its present state, the outside public was disposed to awaft a definite change in the trading before renewing operations on either side. Vacuum Ofl failed to retrace its 2- point loss of yesterday and changed hands most of the time at 102%. | Standard of New York lost fractional- 1y, and no attempt was made to work for higher prices in others of jhe group. _ Despite all the talk about” in- creased consumption, especiall. Sales ¢ g, . mcimis. % ¢ South pra Sou Bar vie &£ S At EEEEEREEE RESCE. Eant eronzes ! e = P R et e R F ISSERE REPRIE F R R EE S > g S M ot e SFEREE,, BE AR R OF R SRR PR ._ F o Ao onbers g [Py 09 0 R Y TR D RS Em it SR SRERIERELSESE ek SO FFEEE AT RS R ] Py Dinkler Hot A % wilier & & & an Bo o AR & Siv pid 10\ B&Sh n Corp 70 eat ‘Tnc. ” 43\* i3 i3 22 8-55155! o % " 533- AT ad : H P ) Kl T 7s pf 083 Co Can b2 ndadion %o 4 17 % x - B rank HEMC ofd B an_ Chas. 23 od_ Corp 1] i ie [ s o o G b RS - 35 & i 2 s Eoal ® e Yy OQQ?S"? <] 9 13 d Rayon Cor ‘A 11nt Conor ind. - O Kevsto Solether 2 al & Ki N - % 2 250, 3 SEetaan S EcBe! T s 5 - 15 cst it ® gl - B PAZR| R £0 B3 L Susosis g O BSE L E s S Sk W OREEDR e o A 5 saeuted Sebe Siarmonss SRS g8 SR AR OOZ ! SBge F354¢ e e £ g o 100 Srorit e £t g 3 = -4 SR s S Sl RER o 155 FRrrr R ¥ e e 58 o o 1 S B i1 Wrssse! Seee S E SRS A FRESE MAE R FeE AN F ._ oo ar =) 53 i tckenbaek ' Mot n ilica, Gel ¢ e o 543 AR et @ pwE, 5’55 5 WA asis0 1o 154 2EELL 2228 o B ouoie womis w FBE BEman D PPEBELEP: e flm_:_ et §2% fox Lz SO s I = b e i FREEE PR 7 - o 1510 5 6 VR DI85 .05 e D5 T SN S i3 em FRSAF A s S on ey 5558 e Do R e D 2 D B eSONR ‘ol ey Lt nn B e - o ORGSR $453 i e ' FEen, 8 wd! 3 3, 5 » 3 ™ i oy i 2 LEES 3 = Sae 3 <k = roe ot BT “d R 3 15 D B B BN DI 0D D D R EATALIST S BN D! RO SRS A 2832, I RE SRS RS 5 5% O g o bt 58 : ‘-4 B L) sanmESess 23 Sale: hung 2 5 g ] i > i S i H 2 i Peoa Ed 55 * 3t & =% 8558 i i £3 555 3 * e o B R0 PEF 595 3533355 3 i o & 2 BSOS MODS ) ?"EEEM a A e SA e T w 92231 P 2108 G R S| 8022 (5 Lo s S 8 G *: W e b 1 2 R R R BsaB,s = 20 West End Sales INDEPENDENT OIL STOCKS. in'hu - o indreds. £ o S oy o5t BFE R BERIFEEITE FERNTE W Bl ML R : B AR RPRERRARGY SRR PR T, - reol Cr Cent Pete’ Euclid 0il Co. . . Gibson Ol _Cof 11 Guif Oil of Pa. Leonard Gil R ot i 1S wrd. 2P it 1B A B w2 - - BTt gz EEieeRet 2080 BB aTEST ok, cate. o E! s 26 iy STANDARD OIL. ISSUES. PRy H o 50 200 fg. .. 73 78 2'I§g Continent: m{ v i & 100 Crescent P 3600 Fgbls O & ug?fi' (3 m 180 Tnd P L. 2400 Inter Pet 100 Nat No 50 700 O »ggrnm 250 Prail DO 2700 8 rfol | ! &mn on I ) THE EVENING STAR, WASHINGTON, D. C. WEDNESDAY, gasoline, the trade was, glving con- siderable attention to the rate of out- put. According to the American Pe- troleum Institute, domestic ‘produc- tion of crude oil in the week ended July 17 totaled 2,054,000 barrels daily, an increase of 21,750 barrels over the preceding week: The market for Canada Dry Gin- ger Ale was feeling the effect of the withdrawal some time ago of pool support and sold off readily when offurings came. in, At 443, the price was down from 457% and the recent high of 52%, which was established some time ago, when rts were current of slightly increased earn- ings. Newmont Mining, ahove 63, was at its best price, and comj ' with last week’s close of 61%. Newmont, because of its holdings of other metal [stocks, stands to benefit materially l;xmugh any improvement in the ma'rket for these stocks. 20 Chi _Nrthw 4% 102% 1 B Sepe g G "Y 1004 1 16 Cit 8 s, D- 1 100 125 8 QL Serv ds pew ke % u§ 00! = is 3002 o = - o sa2i0 35 000e e oroste! =3 —ooow o soes ) ozt ©IRcmono s Smm W-- Haa: ‘ F3%a " = £55eszseSeess FERRREPES § PEREERTER RS NSRS g23estses: oeSSoeets: s’ S0 oooooDeROsT: Ly oo BOGR 0022 2z} & S5Co £E umm 2 £ Septa s b oy 73 FR 2 & EoesSerSonn: o =3823 2SS REE R Pt 11 2 s Lo FRRERE RS R R Seo 2o3eo! 5225332253533 252 B ORSRE PEEFERTRIESRNESE FETRERES _,,-__,~A e SEEREegEsEz s e AT g=sgtssssens 22055 352, > futet 1 18 3 s 840 102 53 101 % Salea FOREIGN BONDS. in’ thousands. p 18 Antiogua 7 921 3 Antloqu: .2y @ Baden 78 .. .. i S2555050— SERS2EE Sopsos 2533353338333 328338333388 PR g zooozmossy vag soo S222E: 1553 523323 s 100 o050 o 258 R 2 o GRS P ) 20} 20 H !_,fi‘ 4 SR PR B PSRN R RERREEE SRS BIERZSIIERE CALL MONEY STEADY. NEW YORK, July 21 (®).—Call money, steady; call loans, 4; closing bid, 4; time loans, firm; mixed col- ateral, 60-90 days, 4%; 4-6 months, 4%; prime mercantile paper, 4. RUBBER DECLINES. NEW YORK, July 21 (Special).— Crude rubber’ smoked ribbed sheets declined %c at today’s moon quota- tion of 4lc. This compares with 44c a month ago and $1.18 a year ago. Washington stdck Exchange SALES. Botomac Elec. —$2.000 at 100%. 1"’7&32% e £0% SarSti00% ok 0% ashington Gas —10 at 68% 2 at 8%, 10°at 087 107at 60."20 Wt oo, 4 Washinton By. & Elec. pld.—10 4 Werchants Trf. & Stre.. com —O%: at 110, ational M. & Iny. pfd—50 at 8% Georgetown Gas | 2.000 at 110%, $3.000 at 100% AFRTE] L. erch Trt. & Strd pitecio at 101 ‘ashinglon Gas 0 '$8<—$2.000 at 104%. Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. ,PUBLIC UTILITY. American Tel. & Tel P ol A Am. Tel. & Tel & o3 g * o S0 & Pty )A-A-;— 2222a1583333388% PR F e @ S & 2 E R PUBLIO UTILITY. A Db on. 20 Bt A S Nati i FRANGE N HORDES Expressions of, Dislike for Americans Has Bad Effect. Cuba Sees Chance. « .- BY J. C. ROYLE. Special Dispatch' to The Star. NEW YORK, July 21.—France not only is being aisrupted internally by the fall of the franc, but she is rap- idly eliminating herself as a factor in the foreign trade of the United States. This, however, will affect this coun- try only to a minor degree, since France s an agricultural nation and absorbs no tremendous amount' of American foot stuffs, which are espe- clally important from a foreign trade point of view at this season of the year. Exporters here made it plain today that in their estimation no customer is a good customer who cannot pay and who does not want to pay. They take this attitude entirely apart from their views on the settlement of the );::nch government debt to the United tes. Care Not for L 0. U.'s. French manufacturers have made it plain that affairs have reached a point Where they cannot pay for raw mate- rials and helding foreign I. O. U. with payment date uncertain Is pastime which has ceased to appeal to business men and farmers. Steamshir, companies report that the rush of tourlsts back from France al- ready has begun. This congestion of traffic usually does not make its ap- ipearance until the middle of August or later.” It is pointed out in connec- tion with the free expressions of dis- like to which American tourists have been subjected that since the war France has gleaned a profit from American tourists which totals at least as much as she is'asked to pay under the debt settlement agreement for years to come. Some bankers see approachipg a condition in France which may ap- proximate that of Germany, when the mark was so low that it could hardly be discerned with the naked financial eye and the situation in Mexico when a half dozen ‘issues of flat money were in circulation. At those periods business men all over the world prac- tically ceased to do business in marks or pesos and if they sold anything at all demanded payment in pounds or dollars. ¢ he Cuba Sees Opportunity. _ Cuba- stands ready to leap at the opportunity to secure the tourlst business which may be alienated from France. The , government commis- slon appointed by President Machado and headed by Augustin Aguero .al- ready has started a wide campaign to attract travelers from America to the Pearl of the Antilies. Senor Aguero, who sails Saturday to report to the Cuban chief executive, has arranged for a marked increase and improve- ment in steamship service between American ports and Havana, and is recelving the hearty co-operation of American ra'lroads, even those of the Far West. This will result in an increased number of vessels on the Havana run, closer train and steamship conn tions at American ports and .inatgu- ration of short and not expensive steamship tours-which will make the rounds of the Caribbean. Senor Aguero has made it plain to business men here that his com- mission is_distinctly a government opportunities, All it seeks to do is to induce tourists to visit the igland and all it has to sell them is climate, historical interest and that spirit of Latin gayety which is as marked in Havana as on the siopes of Mont- martre. Good for Auto Trade. One of the chief features of Ameri- can foreign trade today is the export of manufactured goods, notably auto- moblles. Capt. E. W. Rickenbacker, vice president of the Rickenbacker Motor Car Co., who has just. com- pleted a survey of the ‘South, declared in a dispatch received toda ‘uba is a particularly bright spot for the automobile industry. The island has a population of 3,500,000 and only 35,000 automobiles. Its gov- ernment has the confidence of ‘the people and Is doing everything in its power to attract outside capital. It is_developing good roads all over the fsland and now is at work on a 700- mile hway running the entire length of the island. T - TIME IS EXTENDED. The Interstate Commerce Commis- sion yesterday granted an extension to the Chesapeake and Ohio Railway to Novemebr 15 to install automatic train-control devices on certain per- tions of its I‘ne. . EVERYMAN'S: INVESTMENTS BY GEORGE T. HUGHES. . Turning to Foreign Securities. ‘With domestic bonds selling on the average at the highest level in a decade, past investors are turning more and more toward foreign securi- ties attracted by the higher return ob- tainable on this form of investment.' This is a natural and not undesirable development. Many authorities be- ve beerf underrated in this market affair and is exploiting no business’| TOURSTSLEAVING [COTTONIS QUIETER, WITH PRICE STEADY) Small Advances Are Record- ed, But Market Is In- active Today. By the Associated Press. 5 NEW . YORK, . July 21,—Cotton MO, L S Soucsil s g VSR E e P‘ First Mortgage Loans x'l"nl'::l‘uf. .'lu fi‘fl!; : C‘::np-ny. Inc. 738 ABth Street futures opened steady: October, 17.28; December, 17.2 January, 17,30; March, 17.45; Mey, 17.63. Steadiness without much activity featured the cotton market early today. First prices were five points higher to onhe lower, reflecting 'steady cables and showers at a number of points in the Southwest. Continued support from mill inter- ests, with prebureau covering and a little * demand through commission houses, later carried October contracts up to 17.30 and January to the same figure, the whole market showing net advances of 3 to 5 points. The average indicated yield of the seven private reports thus far issued is 15,153,000 bales. Forecasts of additional showers in Texas, Oklahoma and Arkansas strengthened the midday market, in 'face of a rather favorable weekly summary and induced enough cover- ing and Wall Street support to ele- vate prices 17 to 22 points above the previous close. New Orleans Quotations NEW ORLEANS, July 21 (#).— The cotton market opened firm to- day in sympathy with better Liver- pool cables than due. First trades showed gains of 6 to 9 points, ‘but the market soon lost the improve- ment on realizing, October trading off to 17.16, December to 17.05 and January to 17.04. Prices soon rallied again, however, on reports of rain in the western belt and recovered 6 to 7 points. Private reports issued today showed conditions = ranging from 715 to 74.5 and an indicated crop of 14,876,000 to 15,760,000 bales. RS S i GALLAGHER TO SURVEY COAL TRADE CONDITIONS Will Study Business as It Affects Van Sweringen In- terests. By the Associated Press CLEVELAND, Ohio, July 21.—To make survey of the coal situation as it affects the railroad investments of the Van Sweringen interests, Michael Gallagher, prominent in the coal in- dustry, has resigned as president of the bituminous mining department of the M. A. Hanna Co. His resignation is effective August 1. ‘The survey will consist primarily of investigations of the coal regions in the vicinity of the Chesapeake and Ohio and Hocking Valley roads. Mr. Gallagher operated bituminous mines in West Virginia, Pennsyl- vania nad Ohjo and for many years was chairman of the operators or’gan- ization of ' the central competitive fleld, consisting of Ohlo, Indiana, lilinois and Western Pennsylvania. ' RIS ) SILVER PRICE. NEW YORK, July 21 (#).—Bar sil- ver, 643 : Mexican dollars, 4 FREIRET fo A Foul and His Money. The fact that a stock certificate is printed in fancy green. scrollwork is no proof that it Is worth any mor than ordinary wall paper. Thousands of people in. Washington would have saved their money if they simply had asked their banker to tell them what he knew of some supposedly wonder- ful investment REAL ESTATE LOANS ANY ‘AMOUNT ] APARTMENT HOUSES 2 0 BUSINESS PROPERTY RESIDENCE LOANS AT LOW RATES FRED T. NESBIT 1010 Vermont Avenue N.W. Main 0392 CENTRAL MANHATTAN PROPERTIES, INC. Secured Sinking Fund, 59 Gold Bonds. M L B i ja RISl f o The Standard Company 1010 Vermont Ave. N.W. Phone: Main 6117 i{;ve that foreign bonds of ,this class | or-a long time. The change of senti- ment, however, makes timely a few words of caution as to the principles involved. . R In the first place foreign bonds aré | mot proper investments for any one who has not already acquired a pro- portion of rvative 'domestic is- sues. To put all one's funds or even the largest part of them into foreign {nvestrents would be a grievous er- ror. The law of diversification would | dlone forbld it. There is risk in all investment, but it can be lessened by | spreading it out. & In the next place diversification should be extended to the f holdings . themselves. That is to it wduld be unwise to put the entire available amount into the 'securities of the more conservative. By this smqlu the’obligation: wi e oihie e Tha s o uble is that im who ivd_nflu'o for the flr'lt time abroad seek- nn:{ turn first. to these conservative for;;‘gn ‘bonds, but look for the higher e Eqitable Co-Opeative Buiding individual or broker to finance and handle issue of stock for established company Address Box 219-J Star, Office - MONEY TO LOAN On 1st, llflzm i Tt gL T Tovulation” s 'E" s Rea ty Loan Co. 1417 F St. N.W. M. sa11 We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of inter- est. Should you have Money to Invest —we can also take care of you. Our experience, ex- tending over a period of Thirty-Five Years —insures your protection. Percy H. Russell Co. 926 St. NW. IRST MORTGA FOR SALE 6Y2% PE_OF SECURITY T TR In denominations of $250, $500, $750, $1,000 and upwards, se- cured on improved real estate situated in the District of Columbia. . JAMES F. SHEA 643 Louisiana Ave. N.W. We Will Loan at 54 % Economic Conditions Tyler & Rutherford Loan Correspondent of the Mutual Benefit Life Ins. Co. Newark, N. J. 1018 Vermont Ave. M. 475 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 Nat'l Bank | 14th and G Streets Resources $17,000,000 R. GOLDEN DONALDSON, PRESIDENT —invites applications for loans on Washington real estate. . Prompt action; lowest current rates. Consult— BOSSZHELPS 1417 K Street—Main 9300 To save time and confusion Please Change Our Address From Riggs-Semmes Building, Dupont Circle 717 14th Street N.W. Telephone: Main 2345 MIDDAUGH & SHANNON, Incorporated Since 1899 “No Place Like Home, No Home Like Ours” The New York Life Insurance Co. Offers fo 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 e 5h e ON APPROVED SECURITY Apply RANDALL H. HAGNER & COMPANY' MORTGAGE Loan GORRESPONDENT 1321 Connecticut Avenue ‘Telephone Main 9700 - . REAL ESTATE NOTES First and Second Trusts Purchased on IMPROVED REAL ESTATE In District of Columbia and Nearby Maryland International Finance Corp. 400 Commercidl Nat’l Bank Bldg. Capital, Surplus d Undivided Profits " Over $6.500,000 15th & Penna! Ave. BRANCHES: Central 7th and Mass. Avenue N.W. Northeast . 8th and H Streets N.E. Southwest 7th and E Streets SW. u Northwest 1140 15th St’ren‘N.W. Ass’ JOHN JOY EDSON, President W. 8. PRATT, Jr., Secrelary YEAR COMPLETED | Agsets ”'&"A'nlm Surplus ... $1,352,749.93 ‘Subscriptions for the 915t lsue of Stock Being Received The Enterprise of The United States Government Stabilizes values in Washington. For ‘that reason our First Mortgage Notes, secured on improved Wash- ington Real Estate are a Doubly Safe Investment Annual Yield % . Mmigage Investment Department " Main 2345 " THE PROPERTY THAT PROTECTS Safeguarding every dollar you invest in our safe 6%% FIRST MORTGAGES —is the.security of desirable, improved local real estate. " That property. has béen care- fully investigated and analyzed by experienced appraisers, Our consérvative estimate of its value ‘is_ approximately twice the amount of our First Mort- = * gage on it. Our precaution is . your protection.