Evening Star Newspaper, February 1, 1927, Page 15

FINANCIAL. NEW YORK CURB MARKET RANGE IS NARROW INCOTTON MARKET Prices Are Steady Today. Foreign News More En- couraging Today. By the Associated Press NEW YORK, February cotton mavket opened steady today at unchanged prices to an advance of 2 points. Trading was quiet. Prices fluctuated within a_range .of 3 or 4 points during the first hour, @y contracts ruling around 13.46 and tober, 13.88, or within a point of erday's closing quotations Private cables repcrted continental | and Bom buyving with hedging light in the Liverpool market, and freer buying of cotton cloths in India, | with China advices more encouraging. Steadiness of the English market | was one of the sustaining factors locally, but failed to stimulate much buying, as traders appeared to be| waiting for developments in the south- ern spot markets, or more definite news of coming crop prospects. New Orleans Market. NEW ORLEANS, February 1 () Trading in otton market toda was quiet, h first trades were 2 to 2 po her in response to good Livery bles. First prices which w the highs for the half hour of trading had March 13.24 and July at 13.60. declined - point or two with trading inactive. Spot sales in Liverpool were | 8,000 bales. BOODY, SENIOR MEMBER OF “BIG BOARD.” RETIRING NEW YORK, February 1 (®.— David Augustus Boody, senior mem- ber of the New York Stock Exchange, today is spending his last active hours in Wall Street. He is 89 years old and retiring after 65 years on the ex- change. He shuts his desk finally with m money than he “ever dreamed of.” His seat on the exchange, bought lor $1,000, now has a value of at least $185,000. The last sale was at ?hat price. For long life and acquisitioi, of wealth he has a simple recipe: “Work and a belief in Providence. STOCKHOLDERS TO GET MERGER PLAN SHORTLY NEW YORK, February 1 (#).—The plan of consolidation of the Northern Pacific and Great Northern railroads will be given to stockholders in the near future. This was revealed today in a letter to stockholders of the Northern Pacific Railway Co. The letter also recommends that on receipt of the plan stockholders de- posit their stock certificates and prox- ies for stock in the manner indicated in the plan . BIG ISSUE TAKEN QUICKLY. NEW YORK, February 1 (@) Prompt oversubscription of the Mis- souri Pacific Railroad $95,000,000 first und refunding 5 per cent gold mort- gage bonds was reported today by Kuhn, Loeb & Co. The issue, which is the largest piece of railway financ- ing ever offered over the name of a single banking house, was sold at par and accrued interest within half an hour after the books were opened. POULTRY MARKET FIRM. CHICAGO, February 1 (#).—Poultry —Alive, firm; receipts, one car; fowls, 26%; Springs, 27; turkeys, 30; roosters, 19; ducks, 20a3l; geese, 21a22. ——e Washington Stock Exchange SALES oPotomac Electric Cons. 55—$2.000 at 5 Capital Traction Co—20 at 104%. 20 at 104%. 10 at 104“‘ 0 at 104 % Washington Gas Light—20 at 80 % . Washington Rwy. & Elec. pfd.—>5 at 90%.. District. National Bank—3 ai 240. 10 af lol,.j'»mmbn Title Insurance Co.—50 at Federal-American Co. com.—20 at 33% Lauston Monotype—10 st D41, 3 ai —The AFTER CALL Capital Traction Co.—8 at 104 Rwy. berty National Bank—10 at 205. jobgtomac Electric 65 1053—$1.000 at Money—Call loans. 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. American Tel, & Telga, 4 ‘mer, AR e s ol . b Aua. & Poloma. C. & P. Telephiove b C. & P! Tel. of Va. bs Capital Traction K. R. City & Suburban 58 Georgetown Gus 1s Asked. 9B 1058 Potomac Potomac Potomac Pot. El Pow. Wi Alex Alex Wash.. Balt. Washington Washington Washington G 68 series B. Wash 53 wy. & Elec. 4s.. MISCELLANEOUS. Chestout Farms Dairy 6% .. s Sy L A e | D. C. Paper Co. Pot. " Joint_Stock Southern Bldg. 03s.. Mkt Cold Storagy Wardman Park Hotel 6 %s.. . STOCKS. PUBLIC UTILITY. Amer Tel. & Telga. 152% Capital Traction 104 Washington Gas 69% Norfolk & Wash. ‘Steamboat. 1278 Potomac Elec. yfd L1089 Wash. Rwy. & Elec. com. .. 180 Wash, Rwy. & Elec. pfd. 0% NATIONAL BANK. National Capital : Columbia .. .... Commercial rty Linooln National Riggs ... Second [ e National Bank ‘of Wash' TRUST COMPAN American Security & Trust.. \gntinental pESipmens hants - e ¥ & "Trust. Wash. Loan & Trust. [ . SAVINGS BANK Bank of Bethesda... Commerce & Savingh East Washington £ Securlty Savings & Coni Seventh_Street 5 United States., Washingtcn Mechanic FIRE INSURANC] American . Corcor Fireme kS National Union TITLE 1N olumbia Title al Estate Title’. ftle Inv. of Md MISCELLANEOUS, . C. Paper vfd ‘edera) Storage pid A an 5ve L an. & Storage o ap & Stor. pfd Sterenants’ Mergenthaler Linotype Natl, Mtge. & Inv. nfd Deoples Drug Stores pid.” Secunty | Storake Washington Market w Mech, Mixe. com.. weg LoGirep” Received by Private Wire BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star NEW YORK, February 1.—The volume of business fell off appreciably on the Curb Exchange today, but not before suflicient short covering had taken piace to carry the main body OF stocks above the previous closing level. Denial of rumors that a cut in mid- continent crude ol quotations was Im- pending served to stimulate activity for a time in the oil group, but im- provement was ght. Standard ¢ Indiana had the added in ceniive of Ay's declaration of an extra nt dividend Eureka Pipe Line was sold for a time fol pub!li fon of 19 earning: disclosed a net loss of $13,6 however, compared with a net of $408,352 in 1925, and when Following is a list of aded in on the Curb Market today. Sale NDUSTRIALS bundreds, NPUSTRIALS. 1 Ala Gt So [d 121 4 A1 PLICH Ye 5% llied l]"u‘k n bonds New 3 I35 Cellulose & C Cyanamid ptd & El.. as & El pid Hawaiian S8 annd Macl & Trac. .. pid. . vie REETre] S S O XX E XOI O FrR erpon B Supers pr i 2Am Thread & pid irn Auto Co. RRig 3 Brill Corn A 1 Brit-Am_Tobh 7 d Alcol 1Cen Agnitre & Cent Tean' nfd,.’ 119 & Commonw B ¢'n ‘44 % Consql _Coal, . 5 C G NY n of wi & Co SESRIER L ey i ‘or R G "vic 3 Dunhill Int] T Durane, Mot ! 21 Bond & Sh ptd 1 El B & Sh n Corp 6 El Inyest Inc.. 3. ey Wel Cor A FEERER P ) £33 FRFE SRR . Eprnad 1o = R e e e T ERED » (S com oo 3 3% oundation F OxX Theaters A. it FRRERE 'ulton rSyluhun Corp. Bak A i T Bl Gt i reprie. - PonBer’ 1 en Silk pfd wi % Gillette ' S"R. Gleason Prod C len Falls in Gobel A.. . 3Goodvear T & R Grifith D W A 1Grimes R & Ca R 1 Happiness C St A 1 Hanpiness € &t # 1 Hellman R vd. . 1 Hobart Mfe.... 13 Ind Rayon Cor A 3 Int Concr Ind 3 Intern Util B @ Kevst Solether. 3 2 PR 3 o s on @ #* TR 3 2o 000! wiEeD T SRR FE P 9B g FE 3 Sy oisB- Do T o BEaa2 o o, 28838308 122 BBaa 1029 BB Fi ey S MR R prp PSSR i s BB I B A 8 A S 53 S 9SO 8 7 B D B R D B e 0 s &, o5 Lib R Ch Strs.., ad Sa Gar vic arc Wire Lon ADBD BN it b BB B D s 3D e DD S E S oore Dr For A unicipal Ser .. o m DR OO it ek E Pt ot P et D0 I DI 1018 1o L SIS SO 3 North O Pow C. 3Nor Sta P C A. % Nor Sta P C pf 10 Northe Pow n A ac _Gas El A B Ohio_Sec war. 1 Phila _Elec. . Pitts & Lakeé E; 1 ral 1Pug S P& L.. % Quaker Oats fd 1 1 R: o o5 enss Sonaz e S TR ES S Y g S S Siet=tater - PR R SRERRE R an Kar Bur n. an Kar Bur war 5 Real As Bklyn 0 1 Rich " R: 1Safeway Stores. 1 Seeman Bros. .. 20 Serv _El Corp. . 1 Sharon Stl Hoop 1Snia Viscosa. ... 3o REEY S B L B D S (2 DB S 3¢ i L3 5 12 12 Lot SN e SRS REORRRE FE R s = O PP e R AR 29 i3 BIRREEERT IS EEER548,8 0w SRR BRR REOPER ER PRERSEE 18wift & Co. 3 Tampa EI n 1 Tob Prod Exbori 2Todd_ Shin 5 3 Trans Lux P A" 3 Trumbull | Su. 1Tni Art Thea '¢ Biscuit A. Py s o o oS ® RR R FR - I o Ba Warner. Bros Bie O & S vie B7 3% Wes & 06 nid . 87 18 White Sew Mach 20 Salesin MINING STOCKS. hundreds. g 40 Ariz Globe C. . 3 Cons Cop Mines. 10 Cortez Silver ... .04 2 Eng Gid M Ltd T 10 Eureka Croesus. . Flor Goldfid M. .0¢ Golden State 60 Hawthorne M 7 Hollinger ... ... 02 ¥ Conper Cor. nsfeld Min w s Ns B DA O SRt et S ™ > Do BV DI D FEE AR R R Sales in INDEPENDENT OIL STOCKS. hundreds. < 77 Am Con Oilfids, 1 24 Am Maracaibo C 5 % COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PITTSBURGH, February 1.—The rapid development of power distribu. tion in Pittsburgh and throughout the district is evidenced by the decision of Duquesne Light Co. to adopt a low voltage alternating current system. The new plan 1 looked upon by engi- neers as one of the most economical, providing a_continuous service to a degree heretofore impossible, BOSTON.—Stockholders of the Pocasset Mills, controlled by Louis K. Liggett, have voted to liquidate the company. The concern lost $324,000 last year. ALEXANDRIA, La.—The Vacuum Oil Co. has made contracts with pro- ducers of oil in the Urana fleld to take 1,000,000 barrels of their output. AKRON, Ohio.—Akron rubber com- panies look for a sharp increase in sales within a few weeks and pro- ducers are expected to speed up out- put to meet it. ST. PAUL.—Rates on cream to be shipped from a radius of 100 miles have been reduced 5c to 25¢ a can. will mean a big saving to ship- as milk and cream are shipped dally. Creumeries won the fight to have intra-State rates put on the same basis as the Inter-State. ADAMS, Mass.—Stockholders of the .| Renfrew Manufacturing Co. are now | considering the possibility of raising between $400,000 and $900,000 new capital. Directors have fold them 800 new looms are needed to-yeplace obso- lete equipment and unless new capital is raised the company must liquidate. The company makes ginghams. THE EVENING STAR, WAS Direc. to The Star Office the extent of the improvement over the previous year's operations was realized the market subsequently hardencd. effect of further realizing, but other pipe line issues continued in demand. Indiana_Pipe went into new high ground for the year at 67. Other industrials did little, although it was noticeable that offerings of the motor shares were less pronounced Durant and Auburn were higher most of the session, possibly influenced by the better tone of shares on the Stock Exchange. In | the case of Auburn a good deal of the | recent buying could be attributed to the suc 1926, For the 11 months ended No- vember 30 the company was able to show net earnings equal to more than $11 a share on the 84,888 shares out standing. umbia Synd. . . nd rown Cent Pete . Derby O & Ref rby O & R ipson Ol Cor.. 1f Ojl of Pa. Pet, X Panuco. ... Mount_Prod. .. New Mex Land. Gil 0il Foster con. ... yrod oil 81y 31 300 Anglo Am_Oil 100 Ank A O non vtc 50 orae Scrym 100 Buckeye ) 1700 Cont Oil n. . 50 C 200 Eureka P L 200 Gal Sig Ol 1600 Humble Oil 15011 P L. 00 Imp_0 “of 0 Ind P L 300 Inter, Pet’ ¢ Lid! 800 Nat_Transit 100N Y Transit. 100 Northern P 800 Ohio 01l 4300 Prairie O 1008 O Ky . 4008 O Neb n S nio” pid 1300 Vacuum Oil - . Sales i BONDS. thousands of dollars. 3 Allied Pack 6 25 Aliled Pack 8s 2 Alum 7s n '3: 1Am Gas & 2 S SEERESES = ¥, goeSet - 2Seless SSSEESE! » e G0 s G TSR 22 R B 0N & : Bait Gs A.107 nt Cor Am 6s. 983 2Cuban T 7hs A 111 B Cudahy bs 09 97% 32 Cudahy 5% 3 Det Cty & 107 5 Det Cty G bs B. 100% 31 Duke_Pr P 68 A.105%, 2 Fed Sug 6s..... 88% B Fisk Tire 6%8. 20 Fla P & L bs. 1 Gair. Kobt 19 Gatiheau Pow’ bi 7 Gatineau P 6s.. 99% 33 San Mtrs Os wi. 1004 8Gooyr T & R Bs. 98 9 Grand Tri 65, 108 74 Gult O Pa bs 47 100 4 Guif Sta Ut 58 A 954 s SScoleste! SSS8EES 104 8 976 woe 19 - - 020 10 T 1 BSOS 0 ISR O EI'7s Awi 05 McCro St Shito P Bi0a A B aon v Cor Lol 222 22 2R o s o0 = o o ac SRS ) S8 e 2 s o Z U 2scs ang Sales o thousands, ue. Aires o ue Alres 78 98 §7% it 35 Bu Aires 78 '57 o6 Y ng 15 B 8. 99 1B C 28 }22 141 B E EEUG 'fl‘sll pid 10 Cundinama 7s k 04 1 Danish Cons bis 99 3 Denmark 5&’! 10014 18 E R b 15 100 3 Gor SCon 10 Great Con B B35 ¢ 2 Hamburg E 7s. 1In M B Fin 7s. 3 Krupp Fried L Leo Ry Mor Bk Chile li‘a 0 1 Mor Bk Dem 68100 1 Muni Medellin 8s 1 19 Muni Medellin 7s 168 Peru 7%s .. 16 Saxon P w’ fl. A BB 5223235 S5 s '35 103 H @35 1 pf 1027 St Hambirg 65, 087 H'7s g 7 *3 . ) B0 o Stinnes esion [ et RN EY - VICTIMS OF BANDITS. One New York Patrolman Dies, Another Severely Wounded. NEW YORK, February 1 (#).— One of two patrolmen shot in hold- ups vesterday died last night. James Masterson, 31, a patrolman, was shot down in an attempt to pre- vent a restaurant holdup and died after a blood transfusion had been made in an attempt to save his life. The other patrolman, Hugh Clark, { was severely wounded when he sur. prised two robbers in the basement of an_apartment house. In both instances the robbers es- caped. 4 Girl Suudent a Suicide. SPRINGFIELD, Mo., February 1 UP).—Claudia Lamun. 19, student at a local college, committed suicide here vesterday by drinking poison. She was the daughter of J. A. Lamun, real estate man of Bolivar, Mo. No motive was discovered. | | Cumberland Pipe felt the | leading miotor | sful operaticns throughout | “| delphia Electric Co., | enlarged receipts of wheat in the South- | | aggregated 215 cars, compared with 47 $10,000,000 serial notes of J. L. Hud- | man Co. a bid of"98. | Brothers and Hutzler and Redmond & |ba (Canada) two-year 4%% | bills at par. | Langley at 96%, to yleld about 5.25 | mortgage 6% bonds, due February 1, WHEAT GOES LOWER | IN TODAY’S DEALINGS | Prices Average Down as Freight Rates From Argentina Drop. | Corn and Oats Easy. i By the Associated Press [ 1ICAGO, February 1.—Coincldent | decline in freight rates from ! wheat averaged lower in/ dealings today. Arge 'nino‘ shipper: also reported as offer ing wheat In larger quantities. Open ing at % decline to % advance, wheat | held near the initial range. Corn,| oats and provisions were y, with :orn starting at a shade to % off, and | later showing an additional sag. Flattening out of export demand ernight for North American wheat noted. This condition was em-| phasized, too, by word many cable messages from abroad said there | was no Kuropean call for United States or Canadian wheat at the mo- | ment except at a reduced price. Continued attention was given to! with Argentina, the ear west. Arrivals at Kansas City today, cars a year ago. Official reports in- dicated that so far this season no se- rious damage to the Kansas Winter crop had been done by cold weather. PROFITS SHOW GAIN. Earnings Equivalent to $22.65 a Share on the Preferred. WARREN, Ohio, —Net its of $2,263,000, equi to $ a share on the preferred stock and $2.72 on the common, were | shown today in the annual report| of the Trumbull Steel Co. for 1926. The company represents invested capital of $60,000,000. The report which revealed the largest production year in the history of the company was made to the ockholders meeting here this after- noon. Gross business exceeded $35,000,000 and shipments were placed at 477, 000 tons. New Bond Issues NEW YORK, February 1 (Special). uhn, Loeb & Co., announce that the subscription list for the $95,000,-| 000 Missouri Pacific first and refund- ing mortgage 5 per cent gold bonds series “F" offered at par and matur- ing March 1, 1917, has been closed. Goldman Sachs & C burg Co. announce ., and E. Naum- the offering of son Co. of Michigan. The successful bidders for the $4,- 140,000 Miami (Fla.) city improvement bonds were R. M. Grant & Co., B. J. Van Ingen & Co., and W. A. Harri- A banking group, comprised of the First National Bank, Bank of Mon- treal, Hallgarten & Co., Salmon Co. is offering today a new issue of $6,000,000 Province of British Colum- treasury A new issue of $3,750,000 Lexington Utilitles Co. first and refunding mortgage 5% bonds due February 1, 1952, s being offered by Bonbright & Co., Harris, Forbes & Co. and W. C. per cent. Peabody, Houghteling & Co., Inc., offer a new issue of $1,350,000 of 250 West Thirty-ninth Street Building first 1937. The bonds are priced at 981, to yleld over 6.20 per cent. Dillon, Read & Co. announce the of- fering on Wednesday of a new issue of $14,000,000 Republic of Bolivia 7% bonds due 1958 at a price slightly under par. The last public offering of a Bolivia issue was in 1921, when $25,000,000 was placed on the market. S I FINE WOOLS QUIETER. BOSTON, February 1 (Special).— ‘Wools suitable for heavy-weight goods manufacture have the best call in the Boston wool market at the moment, while fine domestic sorts are some- what more quiet. South American cross-breds are in better inquiry and Australian merinos are moving stead- ily. Considerable contracting for in- dependent clips is progressing , in Texas. Fine domestic territory is quoted at 1.10a1.12, French combing at 1.05a1.08, half-blood at 1.00a1.02, three-eights blood at 90a92 and quar- ter-blood at 7880, all clean basls, for choice selections. Fleece wools of Ohio quality are unchanfged at 45a46 grease basis, LOAN FOR BOLIVIA. NEW YORK, February 1 (#).—A loan of $14,000,000 for the Republic of Bolivia at 7 per cent, maturing in 1958, has been arranged by Dillon Read & Co., which will be offered for public subscription tomorrow at slightly under par. The previous Bo- livian transaction in this market was a loan of $25,000,000 in 1921, KRESS PROFITS UP. EW YORK, February 1 (#).—Net profit of S. S. Kress & Co. for 1926 was $4,672,952, equal after preferred dividends to $37.23 a share on the common, against $4,158,641, or $32.92 | a share, in 1925. WILL SPEND ON POWER PLANT PHILADELPHIA, February 1.— The $50,000,000 in new capital which has just been added by. the Phila- it is expected bere, will be chiefly expended on the Conowingo_power project on the Sus- quehanna River. COCA COLA DIVIDEND UP. ATLANTA, Ga., February 1 (®.— The Coca Cola Co. declared a quar- terly dividend of $2.50, an increase of 75 cents over the previous rate on outstanding common stock of rec- ord March 15, and the directors rec- ommended that the common stock be increased from 500,000 to 1,000,000 shares. Stockholders will pass on the recommendation at thelr annual meeting, February 28. NEW YORK MARKETS. NEW YORK, February 1 (#).—Rye —Easy; No. 2 Western, 1.17% f.o.b. New York and 1.16 c.L.f., export. Lard —Easy; Middle West, 12.90a13.00. Wheat futures opened steady; domes- tic May, 1.44%. Other articles un- changed. FOREIGN EXCHANGE. Quotations turnisheq oy W & Hibbe & Co.1 Nominal salline checks o, S vale London. pound. . Montreal. dollas 100 Paris, frauc. . Brugsels. franic Zuricl Athens drachma. Madrid. peset Warsaw. 7loty. Coponhagen. crown Oslo. crown... Stockholm. crown S - S In Siam shipworms are planted and after three months are dug up and SILVER QUOTATIONS. NEW YORK, February 1 (#).—Bar silver §58%; Mexican dollars 42. Money to Loan Secured py first deed of Lrust on real sstate Prevaiiiny ominizsion Josegh | &N RY CLEANIN AT WOODRUFF'S Is of the Highest Quality and It costs Suits. 0, 3 3106_14th N.W. 400-310" 18h N.W. For Estimates, Maln 1400, 1401, 7413 Bring or enclose thix ad with ord l fiMo;ey toLoan Secured by first deed of trust on District of Columbia real estate. Prevailing_interest and _commission. Floyd E. Davis Company 733 Twelfth St. NW. ' Main 352, 3563, Provident Mutual Life Insurance Company Funds to Loan In Small or Large Amounts at 5Y; Per cent. WM. H. SAUNDERS CO., Inc. 1433 K St NW” Main 10167 DCIE]Dl:\DDDDDDC]E]DDl HOME FURNITURE LOANS HOME OWNERS Up 1o U you are buyin Interest and brok- e tahe 3nd 3rd oF iRrum,” Bringla whas [apersyod have 10" o home. U1 you donre owa: your Homme we oan up € F118. on house T, A Honey revid smal e monthiy payme! rankijn 881 Real Eltate Small Loan Co. Furniture Loan Procurement Co. 1406 G Se. N-W. Room 707 oooooooooooooo NEW STORES oooooooooooo RENT 4th & T Sts. N.E. Cars Pass the Door Store and Flat $100 Surrounded by 72 New Homes INSPECT TONIGHT H. R. HOWENSTEIN CO. 1311 H St. N.W. HINGTON, D. C, TUESDAY, FEBRUARY 1, 1927 7% First Mortgage Notes Amply Secured Allan E. Walker & Co., Inc., 813 15th St. Main 2690 Continental Trust Co. 14th and H Streets Capital $1,000,000.00 Checking Accounts Savings Accounts Time Deposits Foreign Exchange Commercial Credits Travelers’ Credits Travelers’ Cheques Acceptance Credits Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets Capital $1,000,000.00 and Service We will give such prompt con- sideration to any application for loans—that, if granted, the money will be available right away, or, if for any reason de- clined, your plans will not suffer through delay. We'll be glad to consider loans for building, realty buying or refinanc- ing a maturing trust—in D. of C. or nearby counties. e MEEEYER 008G e [REALTORS ] 1415 K Street Main 4752 F IR SR Main 2100 CONVENIENT INVESTMENT For those who wish to invest gradually from income, we offer a ten-month partial - payment plan for our safe 6Y4% FIRST MORTGAGES As little as $25 can start your investment schedule. funds are fully protected and yield full 6% % interest with ab- solute dependability. In Amounts of $250 and up B. F. SAUL CO. IS NO SUBSTITUTE FOR SAFETY MORTGAGES Your 925 15th St. N.'W. L THERE New York Philadelphia Pittsburgh Reading Lancaster Seranton Febnm_ry 1, 1927 We Take Pleasure in Announcing That Mr. Franck Hyatt, Jr. has become associated with us as Manager of the Stock Department of our Washington Office and that Mr. Alexander McCook Dunlop has also joined our organization in this Department. EASTMAN, DILLON & COMPANY Mombers New York Bteck Exchange ‘Mombers Philadelphia Stook Exchange Members Pittsburgh BStock Exchauge Transportation Chicago Albany Washington Allentown Pottaville FINANCIAL. The New York Life Insurance Company Offers to Make Firs Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Md. for 3.5 or 10 year terms on your ' 51/2% Avply Ravpary H. FAGNER & COMPANY MORTGAGE LoaN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Office Building Business Property Home Apartment Capital & Surplus, §$. Keep Ahea —of your expenditures by depositing part of your earn- ings first. That’s the syste- matic way to always “have the edge” on “outgo.” | This big, interest-paying bank is assisting over 47,000 individuals to make financial progress. 000.00 Deposits welcome in any amount—same rate of interest paid on small and large ac- counts. National Savings & Trust Co. 60th Oldest Savings Institution in District of Columbia Year Cor. 15th and New York Ave. The decisive victories of history have in the main been won, not by spectacu~ lar individual heroism, but by the un- tiring efforts of a mighty group of men working toward a common objective. So it is in the Financial world—not the amount of money invested de- termines the earning qualities of your individual dollar, but the security of the medium in which it is invested deter- mines its remuneration. A safe, dependable and remunerative medium is our— First Mortgage Securities Secured by Improved Real Estate in the Nation’s Capital Two Kinds of PROFITS From Securities ECURITY profits fall into two classes: (1) Profits from fluctuation that are here today —on paper*—an. gone tomor- row; (2) Profits from accumula- tion and reinvestment of the steady income from safe bonds. For 54 years The F. H. Smith Company has based its recom- mendations to investors on the fact that the only profits that pay are the profits you keep. Hence we confine our offerings to safe First Mortgage Bonds, which do’ not fluctuate, and which combine ample protection of principal with ample and as- sured income. Current offerings of Smith Bonds will pay you a steady income of 625%, plus liberal State and Federal tax provisions. Mail the form below for descriptive cir- culars and for our two booklets. No Loss to Any Investor in 54 Years *If you now hold securities that show a “paper” profit, you can keep the profit for yourself by disposing of these holdings and reinvesting the proceeds of Smith 64% Bonds. Smith Bonds, in $100, $500 and $1,000 denominations, are sold outright or under an Investment Savings Plan that pays the full rate of bond interest. Tue F. H.SMITH Co. Founded 1873 Smith Building - Washington - [Main 6464] - NEW YORK CHICAGO PHILADELPHIA BOSTON ST. LOUIS PITTSBURGH BUFFALO ALBANY MINNEAPOLIS * 1 2./0 Name 108