Evening Star Newspaper, August 1, 1927, Page 10

0 % PINANCIA 900000000000000000000000¢ CONSULT US —for safe investment of TINANCTA L ;! Four surpius funds. Look oxurvs (LIMB 5 ESUNED 1 revarene: | INSTOCK MARKH: D. €. MONDAY, AUGUST 1, 1977.° PRICES ARE FIRM ON EXCHANGE HERE THE EVENING NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. STAR, WASHINGTON, Equitable Co-Operative Building Assn. JOHN JOY EDSON, President “ALTER . PRATT, Jr., Secretary Organized 1879 ith YEAR COMPLETED oee..$5,171,451.83 Surn us ....eee......81,446,881.04 Subscriptions for the 93rd Issue of Stock Being Received Low. Close. ‘2 10U Low. Close. 2% 131 132% 43'i 43% 8% TLow. Clefi Oven 24% 2 131 43% Pere Mara (18). | PhilaCo5 % pf2 1 | Phila& RC&1. ehilip Morris... bi Pow (B). Abrahm&Straus Adv Rumley Ahumada Lead. First Nat S(11§) Fisk Rubber.... Fisk 1st pf cv(7) Fleischmann Assets ... NO(Q! Washington, D. 00000000000 ooonooom Money to Loan Becured hy first deed of trust on real estate mr-umx interest and on. Joseph 1. Weller 430, et 4 T Rails and Industrials Gain., Some Motors Rest, But Steels Lag | il We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company iBF 900 F Street | 620 17th Street G. M.-P. MURPHY & CO. Members New York Stock Exchange Successors to JOHN L. EDWARDS & COMPANY A copy of our Fortnightly Review sent om yequest 1416 H Street Northwest 52 Broadway, New York Richmond, Va. 6'2% FIRST DEED OF TRUST NOTES Let your money earn income. you a good Call ‘Wm. S. Phillips & Co. Incorporated Main 4600 1516 K Street N.W. Real Estate Security wE will be glad to immediate- ly investigate all applications for loans on First Trust security sub- mitted to us. HERE will be no delay either in getting our re- ply—or in the money being ad- vanced. Etvmuaoss.,.,. 1415 K Street Main 4752 vt Guaranteed Mortgage Bonds Yield District intangible tax refunded. Properties securing these bonds are owner- occupied homes in the District of Columbia. Appraisals by com- mittee headed by Ver- non G. Owen, Pres. Thos. J. Owen & Sons, real estate appraisers. District National Bank of Washington trustee for this bond issue. Payment of princip;!l and interest uncondi- tionally guaranteed by FEDERAL SECURITY & MORTGAGE CO. Resources Over §1,000,000.00 1412 K Street Main 1960 o o e o e e o e e | Bond Dept, Federal security and | | Morizaze Co. i 1102 K R Send me without oblization de- a) | | o1 Addr ! e ARt facecc e oo | BY GEORGE | Special Dispatch to The Star NEW YORK, August 1.—Specnla ‘twn for t ained and ap, | pavently unvestraimable, characte | the stock S at the openin | the weck, " entire list fected. Most of the day the st d only selected issue were favored, but all of the rails and the of the recent leaders rials moved up hy leaps bounds. New high rece mon | Some of them were prices never he fore reached in the histories of the re- spective corporations, and others weve | the best for the present form of cap talizations. In only a few insta was the outlook for the individ { pany a factor in the proceeding: ing seemed to be based rather on com- | | plete confidence in the prospect for | | zed behind | the maoto | ticany | i 1l com- I[| the group | 1 | Am S |Am Ship & Com. 41 4 | Investment Bu Of course there was investment huy- ing, especially in the rails, doubttul If this was the major reason | for the advance. Instead, ‘the spec- | tacle of constantly rising pri | all_persuasive. There is, of a limit to the current up! ment, even though nmnl an abundant supply as at present, but | where to fix this limit is a question few care to try to answer. lx is not easy to pick out the fea h group. In the ra still the leader at the highest for all time. Before the session was half over it had sold only a point under the 200 mark which the speculative fraternity sets goal for the $10 dividend paves York Central surpa best for this year at any time since 1905. Union Paci was at the hest sinco 1911, » soaring rails included Norfolk & Western, Baltimore & Ohio and a long list of the low-priced shares. ing Factor. course, move: | remains in | New! tive and investment viewpoint was the strength in the shares of the Northwestern roads. Great Northern preferred, Northern Pacific and Chi- cago Northwestern all went along. Here the excellent outlook for the crops in that region was a reasonable explanation for the advance. Eventu- ally higher dividends are possible for all these stocks and something like a restoration of their old-time pros- perity. General Motors at Peak. In the motor group Gener: were slow in gettinz under way when it, it too make a new high for the present form of capitalization. Earlier in the day Chrysler and Hud son had absorbed most of the interest, particularly Hudson. About the same time also, du Pont started upward, likewise surpassing all records. If the gossip in the street is to be believed du Pont has an interest in many other corporations besides General Motors and United States Steel. Baldwin and General Railway Sig- nal led the equipments, both at the best in their history. American Smelt- ing & Refining at 168 was at its hi est for all time. General Electric above 129 made a record for, the present shares. The same was true of ‘Woolworth around 157. ‘The one disappointing stock to the so-called constructive element was United States Steel. It opened lower and ranged below Saturday’'s closing nearly all the time. There did not seem to be any real liquidation in Steel, but it had evidently “shot its bolt” for the present. There is no doubt that the market presented a terrifying appearance to short interests. Probably this ac- counts for the heavy covering in the oils right at the opening, which put Phillips, for example, up 2 points, with a subsequent partial reaction. Then. too, there was the case of Manhattan Electricaul Supply which jumped 4 points as previous sellers for the de- cline tried to extricate themselves. FEDERAL TRUCK EARNINGS. NEW YORK, August 1 (#).—Fed- eral Motor Truck Co. reports net profit for the first half of 1927 of $323,803, the equivalent of 75 cents a share on 430, 756 _no-par shares, against $1,069.729, or $5.35 a shore on 200,000 shaves of $10 par in the same period of 12 : your. —_— PROFIT SHOWS GAIW. NEW YORK, August 1 (#).—Profit of Colorado Fuel & Iron Co. and sul; sidiaries for the first half of 1927 amounted to $2,455,541, as compared with $1,616,008 in the first six months of the previous year. INCOME IS SMALLER. NEW YORK, August 1 (#).—April net income of American Railway F press totaled $188,016, against $191 351 in April, 1926, Fisher’s Price Index The following table &hows the aver- age movement from week to weck (1) of the wholesale prices of 200 rep resentative commodities (from Dun’s Review) and (2) of the purchasing power of the dollar: Index N Drices cent of pr Purchasing to— " sk Fifth week.. . Foreign Weekly Index, Financial England Crump's (Lond | index number for Thivd Fourth auarter auarte werk ondweek Third we Fourth we Fufth week (Copyrght, 1077 | Amer Ice (rts).. | Am Internatl(2). 5 62 | Am Locomot (8) Buy- | 2 | Am Snufr (12).. | Am WW (c1.60) [ Am W W Ist(7). s the | Anacon | Archer- ious | ArmourDel pf(7) higher \hm | Armourot 111(A) - | Armourof 111 (B) Asso Dry G(214) ATE S F(19%). Atchison pf (5).. More logical from both the specula- [:::g‘h;s@)l Atl Gulf&WI pf. Atl Refining (4). Atlas Pow pf (6) Austin-Nichols. . Austin-Nich pf.. Baldwin L (7) Balto & O (6). Balto & Oh pf(4) Bang & Ar (3).. Bang & Ar pf(7) Bangor & Arrts. 3% Barnet Leather, 52+ BarnsdallA(21) Barnsdall B(2%) Bayuk Cigars Beacon Ofl. ... o 1 ) Ches & Ohio(10) Ches Corpn. . Chi & Alton. Chi & Alton pf.., Chi & East 1ll... Chi & East 111 pf. Chi Great West., Chi Gt West pf.. Chi M1l & St P. Chi Mi1&StP pf. CM&St Pefs, C M&SLtP pf cfs. Chl & Nwn (4)..: Chi & Nwn pf(7) Chi Rock Is (5).. CRI1&P pt (6). CRI&P pf (7). Childs ($2.40).., Chile Cop (23).. Christie B (1.20) Chrysler Corp(3) Chrysler pf A(8) City Stor A(3%) City Stores (B). Cluett Peab (5).. Coca-Cola (5)... Collins & Aik(4) Col Fuel & Iron. Col & Southn (3) Col Gas & El (5). Col G&E pf A(6) Col Carbon (4) Com Inv (3.60) Com In T pf 6% Com Solv B (8).. Cons Gas pf (5).. Consol Textile. . | Dev Ajax Rubber, Alaska Juneau. . Albany Papr (2) Albny Pap pf(7) Allted Chem (6). Allied Cm pf(7) \mu halm (6). »wn Bo pf Am Can (2)..... Fdy(6) Am Chicle (3).. Am Drug (80c). Am Enea Am Hide & 1 Am Ho P ( Am kee (110)... 1014 1015 101 SR 1674 123 123 A ] Am Ico pf (6)... 9 oL 0 FERy 51% 6k | "u. bl Am La France. 6y Ani Linseed . Am Linseed pf. . 6k ) l\m'. 1031 104 Am Machine (2). 90 90° Piano ($)... 37% Am Po& Lt (1) 61 Am Radiator(5). Am SafetyR(13) ting(t4), l(v 5 901y 610 1301 481y 483 « 61% 60% 130% 1315 130 487y 48 470 4810 d8% 48'c am 166« 168% 165 125% 126% 125 56% 564 bdl 87la 88 Bily 60t G0's 60 168'¢ 1684 167 Lilte 144'5 L1 141 1431 141 Am Smelting (8) Am Stl I°dys (3). Am Sugar (5)... | Am Sumatra Am Tel & T Am Tobacco (8). Am TobaccoB(8) Am Type pf (7). 6T 1311y 1431 4T 4Tl 1l 11l 11y Am Wat Wks(n) Am Woolen..... Am Woolen pf Am Writ Pa ctfs Am Wr Pa pf cfs m Zine 19'% 20% 45'3 194 45 45% 46 421y 85k an (3). Arnold Con, CO. 0‘” 45'% 197% 199% 19 103 103 103 204 205'% 203 .{6‘5 36% ’uh 114 114 3% 53 24% 24% 24'5 Best & Co. Bethlehem Bloomingdale. .. Bon Ami Cl A(4) Booth Fisheries. Botany C Mills A Briggs Mfg (3).. Bkln-Edison (8) Blkn-Mn Tr (4). By Man T pf(6). Bklyn UnGas(5) Brown Shoe (2). Buft Roch&P (4) Burros Add(t4). Bush Term (b8) Bush Trm pf (7) Butte Cop (50c). Butte&Super(2), Butterick (g2).. Byer & Co... Byer & Co pf(7). Calif Packg(4) Calif Petrol(2)., Callahan Zine... 1% Calumet & Ar(6) Calu & Hecla(2) 16 16 16 Canada Dry (3)., Can Pacifie (10). Case Threshg (6) Cent Alloy (2)... Cent Leather pf., Century Rib M., Century R pf(7). Cen Ry NJ(112). Cerro dePas(15). Certain-Teed {4) . 83% 834 83'1 122 125 121 41% 42% 41% 97 97 97 96 93 60 60 114 114 44 9% 9% 2% bil 83 331, &2 110 110% 110 625 _63 62% 2434 “24% 23% 1% 1 69 69 521% 69 49% 50 49% 190% 193% 190 255 265 235 31% 32 31 8% 9% T84 13% 13 80 80 330 330 61% 61% 611 49% 52 49% B T T 95 G0 SN 18% 18% 184 189% 193% 189% 70 71% 70 Bia 84 15% 15 47% 48 4Ty % 80% 7% 17% 184 17% 381 39% 38y 16% 16% 1ek 1 0! 135 118% 114% 112% 100% 100% 100% 107% 108'% 1074 1% 1 61“‘ 61 36% 62 d’i 5515 54" 4 112 112 4’W¢ 49% 49 2! 295 68% . 67 116'% 116 116% 10715 108 106 88 130% 93g 105% 105% 105% 72 12 72 461 46% 45% 88 88 88 376% 376% 375 53 53% 53 20% 21 20% CCC&SLL (8), Com Powr (235) Congoleum-Nair Cong Clgar (4).. 64% 65% 64% Con Cigars (7) 8l 82 81 Consol Distribut ' % % 8 Consol Gas (5)., 110% 111% 110 98 98 Cont Bakg A(4). Cont Baking B., 5% Cont Bak pf (8).. 884 mw. 8814 Cont Can (5).. 75 Tol T Cont Insur (6) 3 193 Cont Mot (80c).. 4 11% Cuba R R (4.80). 8! Cuyamel Frult.. a1 317 17 "Nu 84 81 414 a1y 3% 3% Ci u; 17 Del & Hud (9)... Del L & W (17). DR G Wstpt... Devoe & 1(2.40) c& R 15t(7). Diamd Mtch(8). Dodze Bros CIA. 17% 18 17 Dodgze pf (T) 69'% 69'% 67'4 & At 4 4 50 497k 5 3 109 109 103 130 135 130 aton Axle ()., enlohr & Bro, 1 AutoLU(163) 90 90% lectric Boat.... 18 18 ilec Power & 22% 227 22% lec PELEpL(T) 104% 1031 104'% ecRefrigeratn 13% 147% 13% ze Bat (16) 6712 67% antgm(A) 6% 6% ngineers Pub S 27% 27 gnrs PS pf (1) 103 103t 103% Spait Bldg(7)... 88% 8Tk oRR.. 611y rle 1t pt 62% Erie 2d pt 60%h 611 e Stm S(215). 30% 30% 307% ureka Va tH43% T1% 72 Tl% “atrhanks m .. 39 391 394 Fed Lt (h . 41 alughe 114 Paventx (1). PETRR F U 31 6213 ' 60% 141 4 Foundation (5). Fox Film A (4). Freeport (14%). Gabriel Sn(3%). | Gardner Motor.. Gen Am Tnk (3) Gen Asphalt. . ten Cigars (4).. Gen Elec (15)... Genllec sp(60c) Gen GasA(ol1§) Gen Gas (B) GenMotors(t Gen Mot vf (7).. Gen Outdr Ad(2) Gen Outdr A (4) Gen Ry Sig (5).. | Gen Refrac (3).. | Gimbel Bros Gimbl Br pt (7). i Glidde Co. . Gold Dust. Goodrich Ru (4) Goodyear pf (7). Gothm S H (214) ‘ Gotham new 214. | Granby (4). | Grt North pf'(5) | Gt Nor f cfs(5) | Gre Nor 0114 | Great WnSug(n) ‘ Gt West S pt (7) | Green Canan.... | Gulf Mo & Nor. | Gult States (5).. ‘ Hanna 1st pt.... i Hocking Val(10) Hoe & CoA..... | Hollander & Son Homestake (17). { Houshld P(31). Houston Ofl. Howe Sound | Hud Man (215 Hudson Mo(3 ) Hup Mot (1.40).. Illinols Cen (7).. Indep 011 (1).... Indian Mot (1) Inland St (23 Inspiration. .. | Int Bus Ma (4).. ! Int Cement (4).. Int Com Eng (2) Int Harv (§6)... { Inter Har pf (7). | Int Mteb pt( Int Mer Marine.. Int Mer Mar pf.. Int Nickel (2)... Intl Paper (240) Int Paper pf (7). Int Ry CA pf(5). Intl Stiver...... | Intl Silver pf(7) Int Tel & Tel (6) Int Tel & Tel rts Intertye (11%).. Jewel Tea.:.... Jones Bros Tea., Jordan Motor.... Kan City South. Kan C So pf (4). KayserJ (4) Kelly-Spring Kelsey-Hayes. .. Kennecott C (5). Keystone T & R. Kinney pf (8). KraftCh (113). Kresge (1.20). Kresge Dept S. Laclede Gas(12) Laclede G pf(5). Lago Ol (3).. Lambert Co (5).. Lee Tire & Rub. Lehigh Val(31 Lehn & Fink(3). Lig&MyrsB(f4). Lima Loco (4)..: Lig Carb (3.60).. Loew’s In¢ (2).. Loft.......0 Long Bell A (4. Loose-Wiles. Loose-W 1st (7). Lorillard Co. Louisfana OIl. ) Louls & Nash(7) Ludlum Steel(2) McCrory (1.60). MeCrory B(1.60)- McCrory pt (6). Mack Trucks (6) Mack Trk 2d (7). Macy R H (5)... Magma Cop (3 Mallison & Co. .. Mallison pf (7)., Man El Sup (5).. Man El m g (d5). Man Shirt (1%) Market St prior.. Marland Oll..... Marlin-Rek t3% Martin-Pary(2). Mathieson (4). . Mathieson pf(7) May Dept S (4). MaytagCo(12%) Mexican Seab. .. Miam{ Cop (1) MidContinent( Middle States. . . Midland pf(+12) Miller Rub (2).. Minn & St Loufs. Min St P & SSM. M St P&SSM pf. Mo Kan & Tex. . MoK & T nf (6). Missourd Pacific. Missour! Pac pf. Montana Pow (5) Montgmry W(4). Moon Motor-..... Mother L (500).. Motion Plo (1).. Motor Met(3.60) Motor Whi (2) Mullins Body. ... Munsingwr (3).. Murray Corpn... Nash Mot (t4%) Nash & Chat (7) Nat Acme (sta). Nat Bellas Hess. Nat Biscult t514 Nat Bisc pf (7).. Nat Cash R(A)3 Nat Enamel & S. Nat Enam pf (7) Nat Lead (5)... Nat Led pf B(6). Nat Pw&Lt(80c) t Supply (4).. Nat Surety (10). Nat Surety rts.. N O Tex & M (1) N Y Alr Br (3) NY Chi&StL(11) NYC&SL pt(6). NY Dock. . NY & Harl (5) NY NH & Hart.. NY Ont & W (1) NY Railways pt Norfolk Sout] Norf & W (8). NorAm b10% stk North Pac (5)... Nor Pac cfs(5).. 011 Well Sup. pheum Cir (2 Opnhm Col (4).. Orpheum pf (8)., Otis Elev pf (6). Otis Steel....... Otis St prior(7) Owens Bot(Ct5) Packard ($2.90). " | Paige Motor. Pan-Am (6).. Pan-Am B (6)... Pan-Am West B Parmt-Fam (J8) Paramt-F pf (8) Park & Tilford. . Pathe Exchange. Pathe Ex A (4).. Patino(1.21 2-3) Peerless Motor. . Penick&Ford(1). Penick&F pf(7). Pa Dix1eCt(3.20) Penna RR (3%) Penn-Seab Steel. Peoples Gas (8). Peorla & East... 15 121 26% 1474 25% 4% 76 105 103 1064 196 5! 28 65 ke 19 454 AL, Phillips-Jon (4). Phillips Pet (3). Phoenix Hosfery. 50 1 | Plerce-Arrow. .. Plerce-Ar pf(8). Plerce O1l. Pierce Petr Pitts Coal... . PittsTerm Coal.. Pitts St pf (7). | Pitts & W va(6) | Postum (5). Prod & Refiner { Pub Serv NJ (2 Pub S NJ pf(7). Pub SE&G pf(6) Pullman Co (8). Pullman ctfs(8) 10714 1510 | E Purity Bak B(2 | Purity Bak pf(7), Radio Corp ot A. Radio C pf (3%6) Ray Copper (25¢& Reading (15) ling 2d (2) Real Silk Hos(4) Reid Ice Crm(3) Rem-Rand $1 Rem-Rd 18t(7) Reynolds Spngs. Rey Tobac B (5) Rossia Ins (6).. RoyalD(al.33%) Safety Cable (4) St Joseph L(13)., St L&San F(18). St L Southwest. Savage Arms Seneca Copper. . Shattuck F G (2) Sher-Wil pf (7). Simmons (2).... Simmons pt (7)., 106% 57 110 Sloss-Shef (G).. Snider Packg Co SPortoR Sug(n). South Por pf(8). South Calif Ed South Dairfes A. Sou Dairles B. South Pac (6).. Southern Ry (7). South Ry pf (5). Spear & Co pf(7) Spicer Mfg...ea. Std G & E(3%).. Std G & E pf(4). Std Mill (5). StrlOllel(TZ%). Std OILNJ(11%) Std O] NY(1.60) Stewart-War (6) Stromb Car (2). Studebaker (5).. Submarine Boat. Sun Oil (11). Superior Steel... Texas Corpn (3) Tex Gulf S t4%. Tex & Pacific. .. Tex PC&O(60c). Tex Land Trstn Thatcher Mfg. The Fair (2.40). Thompson (3.60) Tidew Aso (60¢) TidWAsOIIpf(6) TideWat O(80e) . Timk Roll B(t5) Tobac Prod (7). Tobac Prod A (73 Transcont Oil... Underwood (4).. Un Bag & Paper. Unlon Carb (6).. Union Oil ($214) Un Pacifie (10).. Un Cig St p£(7). United Drug (9). UtdDrg 1st(314) Utd Fruit(15%). USCIP&F(1Q) 2 USCIPpt (7). U S Dist cfs new US Dist pt n(1).. Aleohol (5).. Leather w 1., US Leather A. .. USLeat pr pf(7). U S Realty (4) U S Rubber. U S Rub 1st US Smelt (3%) USSmpt (335), U S Steel (7).... U S Steel pf (7). Uni Pic 1st pf(3) Unv P&R(12%). Utl P&LE A (e2) Vanadium (3)... Vick Chem (4) Victor pr pt (7)., Victor TIk Mch. Victor ev vf (6). Va-Caro Chem. . Va-Car Ch 6% p Vivadou (3). Vivaudou pf (7. Vulcan Detin. Wabash. .. Wabash pf A(5). Wabash B(5). Waldor? (1%) Ward Baking Warner Plc A Warner-Quin(2) Warren Bros(4). WarF&Pipe Cor. W Penn El pt(7) West P Po (6).. West Maryland., West Md 2d pt. West Pacific West Pac pt (6). West Union (8).. WesthseAirB(7) Westinghse (4). Weston Electrie Weston A (2)... White Eagle (2). White Mot (4 White Sew MH) White Sew Mach Wickwire ctfs. .. Willys-Overland Wilson Co pf A.. Woolworth (5).. Worthn Pump... Worth Pump (A) Wright Aero (1) Yale&Towne(5). Yellow Truck. .. Yel Tr&Co pf(7) YungstnS&T(6). Hourly Sales 1la.m., 85% #5% on N. Y. Market. 500 12 noon. 930,700 Lpm.. 1,265,700 2p.m.. 1,557,300 Dividend rates as given in the aboye able the annual cash pavments based o Fierly OF halt vearly Geclarations wiso tioted. extra OF special divl I v ex! Sommon - etack A Faid this v w ed. avable “in. cash oF "1 Py uw in stock. & Plus 1/50 o'in stock. hPlus $1 a share in special {Blas 8% - in stock. 1 Plus 5% & Payable 1730°01 & share quarterly € stocl, ' 'm Plus 8% in etock. WAy st0ck, i Plus $3 i oreferred stock. a Plus one-hait of common stock. stock, sha HOLIDAY IN ENGLAND. August 1 (P).—AN and in Liverpool closed today, a bank holiday. ex- are e BUS FIRMS LARGE. " YORK, August 1 () ating companies incor in the United States in July, capitalized at §100,000 or mor ‘Transportation reports. of 13 orated six were Bus POTATO MARKET STRONG. CHICAGO, August 1 (#).—Potatoes: Receipts, 66 cars Saturday; 24 cars Sunday; on track, 150 total mand and trading good; market strong; Virginia barreled Irish cobblers, 3.00a 3.50, according to f“;cdiuon; Kansas and Missouri stock h cobblers, 1.60 Riggs Bank Shares Sell at 477—Bond Trading Is Active Today. BY EDWARD (. STONE. Prices were firm on the Washingion Stock Jixchange today when August trading opened. al Traction sold at 106, > E Power 54 per cent preferred fizured in a good- sized turnover at 1013, the 6 per cent e changed hands at 1087, while i Bank ap- Two_hun- dred and fifty shaves of National Mort- & Investment preferred sold In an active bond market Washing- s sold at 10215 and 102%. cs A, sold at 103%. P Zlectric Power 6s came out at and Washington Railway & Slectric 4s registered 86. Railway & Electric General 6s sold at 103%. The bond market closed with a 500-dollar transaction in Chesapeake & Potomac of Virginia 5s at 101 %. American Fire Insurance stock was the only issue on the board today selling ex dividend. The asked price on the stock is 305, The stock of the Potomac Savings listed on the exchange several weeks ago, is still awaiting its first sale. The bid price is 275. Veterans Leave Interest Unpaid. Practically all the war veterans who made bonus loans through the Wash- ington banks on their service certifi- cates have left the interest unpaid. The number is surprising, bankers re- port. Since getting the money on their certificates the veterans have manifested no concern whate over meeting their first interest payments, much less in arranging to pay up the loans and redeem the certificates for the greatly enhanced value which they would have later. All notices have been ignored, and hardly an instanrce has been reported in_which the banks have not been obliged to turn to the Veterans’ Bu- reau for their money. There was con- siderable criticism of the local banks several months ago when they op- posed and in some instances refused to make the loans. They were charged with unpatriotic treatment of war veterans. The banks now fecl that their original opposition to the loans was fully justified. Mortgage Bankers to Meet. The fourteenth annual convention of the Mortgage Bankers’ Association of America, to be held this year in Denver, September 12 to 16, will treat a wide variety of topics relating to farm and city mortgage investments. Careful consideration of the new McFadden banking act, from the standpoint of its effect on mortgage banking will be included. The convention will hear the re- port of a special committee named by thie board of governors this vear to consider the adoption of a formal ‘code of ethics, embodying standards rec- ognized as at once best safeguarding the investor and serving the needs of the borrower. Secretary W. B. Kester reported that the association in the past 18 months has enjoyed the most rapid growth in its 13 years’ existence. American Ice Co. Reports Sales. Sales of American Ice Co. for the six months ended June 30 were $8,- 246,269, Net income for the six months, after expenses and interest, but before depreciation and taxes, was $1,269,575. This compares with $1,371,653 for the same period last year. Cash has in- creased from $96,000 to $880,910. Reflecting the company’s recent ap- praisal of its real estate holdings and other property, its general property account stood at $39,098,584, compared with $29,319,357 a year ago. The item of good will, water rights and patent rights carried at $17.298,249 a year ago, has been reduced $9,90 President Charles C. Small says an unusually cold Spring affected opera- tions, Washington, Baltimore and New York having especially low tempera- tures in June. He adds that the com- pany is serving more customers this year than last and considers the sec- ond half year's earnings more im- portant than the first. Add Buffalo Brokerage Office. Eastman, Dillon & Co., announce that the investment banking firm of Cleversley, Rounds, Mundie & Gowans has become their Buffalo representa- tive, effective today. Private wires linking the Buffalo firm with other Eastman, Dillon offices have already been installed. Heard in Financial District. Howard Moran, vice president of the American Security & Trust Co., re- turned to his desk today after a month's vacation. Robert N. Harper, president of the District National Bank, passed the \‘\'eck end at his estate in Leesburg, a A. C. Flather of G. M. P. Murphy & Co. was back in the company’s H street board room today after a two- week vacation, spent on a motor trip. Edward J. McQuade, vice president of the Liberty National Bank, is ex- pected to reach home next Thursday from his five-week trip in Europe. Frank Owings, (fl(hwr of the Bank of Commerce & Savings, returned to his office today after his annual va- cation. SILVER QUOTATIONS. NEW YORK, August 1 (#).—Bar silver, 56%; Mexican dollars, 42%. GERMAN BONDS AND STOCKS. Special Leased Wire to The Sta NEW YORK, August 1.— (Quoted in dollars per mllllnnlmarklv Asiced. Gor Gt (w In) Gs 1014-18, Hamburg 48 1919 T o 4145 Dieowar Ger en Elec 43 1010 ‘Amer _Line vw th German Loy 1 B8 Bhashaone pr Erankfort a-M Munich 4 afl Beriines. Handots. Dresdner Banl . Bank. Darmstaedter Dank Mercur Bank Vienna Heyden Chemical, Austrian A E G (G SHORT-TERM SECURITIES. (Reported by I. & W. Seligman & Co.) —Noon.— Offer. Am. Tel. & Tel. Co Baltimore & Ohio (s Batavian Pet. Cor. 4118 =3 FRSEPEETI United States shipments, 53 cars; de- | S s e s e . 832223333283233:¢ i i TRAVELERS’ COMPLETELY TRUST DEPT. Save With the Equitable Systemalically $2.50 SHARE to it. proval quickly. Join today. 915 F Street i, OLDEST National Bank in the District of Columbia For Pay-Day Depositors’ Convenience —this bank will remain Open Until 5:30 P.M. Today One Dollar will open a Savings Account National Metropolitan Bank CHECKS & LETTERS OF CREDIT SAFE DEPOSIT BOXES EQUIPPED 0 Compound Interest Paid on Savings EARING the development of the National Capital with an Invegtment of Unquestioned Worth, is our achievement in Financial Enterprise. Our First Mortgage Notes secured by Improved Washington Real Estate have enabled thou- sands of people throughout the world to own a safe and depend- able Investment. First Mortgage Securities SHANNON:8s LUCHS 1435 K STREET N.W: MSPHERSON SQUARE, NORTH APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent Suburbs in Montgom- ery and Prince Georges Counties, Md. 5: % NTEREST Apply to H. L. RUST COMPANY LOAN CORRESPONDENT Ghe PRUDENTIAL INSURANCE COMPANY of AMERICA 1001 15th Street N.W. FIRST THE STABILITY OF YOUR INVESTMENT —depends upon the stability of investment That security depends in turn on the strength and character of its sponsors. \When the security the enjoys. we suggest A Third of a Century Without a Loss , ment’s safety, turns therefrom. B. F. SAUL CO. Main 2100 Make up vour mind to save system. atically through the Equitable and stick Our plan has met with the hearty ap- of thousands of Washingtonlans hecause it helps them to get ahead more 722222727, Established 1814 —113 Years Old 15th St., Opposite U. S. Treasury Main 6888 MORTGAGES 6% FIRST MORTGAGES —we are putting before you the utmost of stability, not only in the matter of your invest- but also in the regularity of your income re- 925 15th St. N.W.