Evening Star Newspaper, August 8, 1927, Page 15

Mortgage at Low Interest Rates Economic Conditions Tyler & Rutherford 1520 K Street Main 475 BU)IVL&.\ Fh(n’l R1 In Washington Maryland, in Large Amounts at 515% WM. H. SAUNDERS €., INC. 1433 K St. N.W. Main 1016-17 Loan I1ES or Nearby sman or Correspondent Mutual Life Our Service to the Borrower ' Cl RRENT inter- est rates, fair appraisals and quick service. CKEE\PR= GOS el 1415 K Sireet o) rice “.*In my opinion the Ideal Investment!” Practically the World over the same statement is being made concerning Smith Bonds ‘Their pnquestioned safety and sttractive interest rates have built for us a clientele in nearly every civilized country, ‘Why not become another well satisfied owner of Smith Bonds? Complete information may be % bad without obligation. Ask for Booklet ** 1-42”" EIRe FH.SMiTH Go. “Younded 1873 Smith Building —(Main 6460) (Brg-13th Se., N.W.) ‘Washington, D. C. Branch Offices in ev2 York-Chicago-and Other Cities FIRST DEED OF TRUST NOTES Let your momey earn you a good income. Call Wm. S. Phillips & Co. o Incorporated Main 4600 1516 K Street Guaranteed Mortgage Bonds P Yielding District Intangible Tax i Refunded | SECURED BY: In- ’ dividually owned homes in the District of Columbia, VALUES BY: Ap- praisal committee of recognized authorities on real estate values. TRUSTEE: District National of Washing ton Trust for this bond issuc. GUARANTEED: Fed- eral Security & Mort- gage Company, with capital and surplus of over $750,000.00. FEDERAL SECURITY & MORTGAGE CO. $1.,006.6000.00 Main 1960 Resources Over 1412 K Street 1 | | | | Name | Address | Loan fim-pomlml Mulunl Benefit Life Money Loaned l FINANCIAL. — ONDS o] Reccived by Private Wirs Direct to The Star Office. (8 | Argentine 5s. Argentine Argentin« Arzentine Australian 5: Austria 7s Rank of € *anada nada 5les 6731943 o 83 1941, “hile 831946, nhagen 5 ho 8s 195 Danf DE 15%s Mch 53 Italy 7s.. panese 43. panese 6143, Lyon s. .. Marseille 6s. Mexico 45 10 Mo deo 7 Nord 6%s Norway 5%s Norway 6s 19 Norway 68 19 Norway 6s 19 les. Chinese Gov Ry s. | Paris-Ly-Med ?s. Parls Orleans 7s. | Peru7ts...... | Poland 65 40.. | Poland 8s | Porto Ales | Prague 7143 | Queensland 6 | Queensland 7s. . | Rnineive Un 7s. { Rio de Jan £s 47. | Rio Gr Do Sul 8s Rome 6145.. Sao Paulo 1950 Saxon (PW) 78, ... | Seine 75 42.... Serbs Crot Slo 8s.. Soissons 6s Swiss Confed 8s. .. Toho Elec Pow 7s. Utd Kingm 5%s 37. Utd Steam Corp 6s. Uruguay 83 | Yokohama 6s. | Humble O & R 5% 8 | INnots Bell 1st 5s. | Int Mer Marine 6s. | Int Paper ©s 47. | Inter Paper cv 6 | Inter Paper £d 6s. Int T&T 6%8 Kan CP&L 6s A 52, | Kan G & Ei 63 2. Kelly-Spring 8s. Laclede G 6% 62 | Lorillara (P) bs. | Loulsv G & E bs | M1d-Con 6358 40 | Midvale Steel 5s. | Montand Pow 6s. NYGEL H&P b3, | NY Tel 4%s | N Y Tel6s41. N Y Tel 63 49. Nor States Pow 5s. | Pac Gas & El 6: Pac T & T 6363. Pan-Amer Pete 63. | Phila Co 5%s 38 PhilaCo rf 6s A i &RAC& 153 Plerce-Arrow 8s. Service 6s. clair Ol 6 011 8% ir 011 7s » Crude O1l 68 Pipe Line 5 outhwest Bel 2h Pow & Lt b8, ertientes & Warner § | Mor's & Co 1st 4%s 6 12 Higt. ON NEW YORK ; MISCELLANEOUS. Am Agri Chem 7%: 1 102 Am Repubdeb 6s.. 5 100 AmSmit&R1stbs 8 102% |AmSmit& R s 2 103 | Am Sugarret 8s... 11 104% AmT&Tcltras.. 6 995 AmT&Toltrbs.. 8 104% AmT & T s£68.... 5l 103% AmT&Tdeb5%s. 8 107 Am Water Wks 5s. 6 100 Am Writing Pap 63 36 92 Anaconda 1st 6s... 16 1041 Anacondacvdb 7s. 8 108 AndesCop deb 7s 43 14 106% Armour&Co 43539 34 v Armour Del 5%s.. 34 90% Associated Ol 6s.. 3 102% | Atlantic Refin s... 27 101 | Barnsdall 65 1940,, 15 { Bell Tel Pa 53 B 5 Bell Tel Pa63C... b Beth Steel p m b 3 Beth Steel rf 5s. 2 Beth Steel 5%5 53.. 9 Beth Steel 63...... 97 | Bklyn Unlon 5%8..107 2: | Con Coal Md 1st 58, 1 |ConGasN Y 5%s.. 2 | Cuba Canecv 7 3 | Cuba Cane cv €3 2 | Det Edison 55 40, Dodge 68..... 2 East Cuba Sug T%e 81 105% EmpG&F 6%s... 1 105% EmpireG & F 1%s. 22 110% Fisk Rubber 8 1116 Goodrich 648. . 1107% Goodyear 831931.. 4 110% Goodyear 881941.0 19 120% | Hoe & Co 6%s. 1 RA!LR OAD. i 45 05-| en 4s 1 Ist 49 47 4 4s.. B&Ocvals.. 0 Go Biciyn Manhat 6 Tuft R & Pitt 4%s, aNat4%s30... nad North 6%8 Canad North Canad Pac deb 45, UNITED STATES., are nn $1 V)0.) i ! Lib3ys. 1 Centof Ga 68...... 11 | Libistays 8 (037 1037 |Central Pacifi 1 | Lib2aais. 19 10020 10030 10080 | Cent Pac 1st5590, 1 103's | L )13 1012 1012 | ChesaCorp5swi...115 99 | Libaths 1041 1041 )Ches&Ocv4is.. 10 100% 1324 11324 11324 ;Cht& Alton3%s... 10 634 | Chi B& Qgen4s53 3 ¢ | FOREIGN CB&Q4%sSTTB.. 14 99% 10 100 1024 109 104% 99% 104% 103% 107% 100 91t 104% 107% 1064 1 90'% 904 102% 100% 99% 104% 106 100 102% 101 104 217% 0% 5% 981 103% 86' 1054 105% 110% 116 107% 110 120% 102% 103 104% 100 CanPac 4%s46... Car Clineh&0 6553 1 108%% ChiB&Q Istrfbs. 1 “hi& E 11l gn 6851 35 "‘hlur\ M & StP s 10454 904 Del & Aua Istrf 4s 1 Del & 5335 5 1 Del & Hud 5%s. . 10 G cn 43 it North 5%s. . Nor Ta. 1 & Man ref .1 99°: tHud & Man aj 58... 1 100% | 11 Cent 45 5 "1 111 Cent 4% 3 > | 111 Centr: 13 | TC-CStLitesns. 15 | LLC-CSULENO b9 11 105 t Rapid Tran bs. 25 { Int Rap Tr 55 | int Rap Tran 6s. .. | Int Rap Tran7s. .. | Int Gt Nor 6 ? Int &G Nor 1st 6. | Int & G Nor ad 6s.. i Int RysC A 6s72.. Towa Cent rf 48 Kan City FtS 48 ansas City S 3s ‘l\an\n City S 53 Kan City Term 43. | Lake Shore ¢s 28 | Lake hore 4511 i\‘lSlP&S M cn 4s 1 en | St P MStP&; MStP& M St P & SSM r-,, MK & Tadj 5s.... MK&T6sC Mo Pacitic gen Mo Pac 53 1965 Mo Pac 5s 77 rets. Nassau E Ry 4s 67, NOTex & M5sB.. N O T&M 55 C 1956, NOT&Mb6%s Y Cen gen 3%4s Cent 4s 98.., Cent deb 4s Crfim4%s18 Centri5s.. Cent deb 6s. 10718 107% 31 : 4 ¢ Y o b 4 o TRz 993 | N Y Cent LS cl3%s S1% 104% NYChl&SlLE‘AsB. 1057 103% | NYC&StL6sA.. 3 103 1073 | New Haven ds55.., 1 80% 100 | New Havencdbs.. 2 110% N Hav&Heclt 6s40. 1 105 NY O&W gen 4s 55 N Y Rys6s65..... | N Y State Ry 414s. NYStateRy 648 62 N Y W & Bos 4%s.. Nor & S gen 58 64.. Nor Pac 3s 2047... Northern Pac 4s... Northern Pac 5s D. Northern Pacr16s Ore Short L rfs 4s. Ore Wash 1st 4s... Pennsyl gen 4%s.. Pennsyl gen 68.... 109% 109% Pennsyl 6%48...... 12 112 Pennsyl gold 7s. 106 108 Peo & I 1st 45 40.. 89% Pere Marq 1st6s... 66 105 105 105 PCC&StLS5sA., : 109% 100% 109% PCC&SLbS B 76.. 1 109% 109% Port RL&P T%s 46. 107% Reading gen 448, . 99% 103% | ffeading J C4851.. 2 93% Rlo G West cl 48 5 26l RIArk& L 4%s.. 964 St L IM&S 4829, 4 98% St L IM&S R&G 4. " 94% MIStL&SFpl4sA.. " 8T% 102 mL&SFprma:. % 101 103 L&sb‘ssasb.. A 103% 104% | St L &S F adj 6s.. 101% 100 SlL&SFlnc 63 Y35 984 StL&SFplés 101% 101% | StLS W con 4s 22, 96% 97 {5t P& KCShL 4%s 95 9 an A & Arn P 4s.. 91 91 aboard A L 48 ste £1% . 2% 84'a BAll Fla 6s35A ou Pac 4s 29 Sou Pacitic ref aPac 414 5A ou Ry gen 4 u Ry 63 56. . | Southern Ry 63%s. Sou Ry Mo & O 4. | Term AssoS Li4s.. 1 | TexArk FS 6%5 50 x & Pac nird Av ref 4s 60. hird Ave ad Unton Pac 1st rf 48 45 67 111 SHO‘{T TLRM SECUHITIES &W SEEK BOND ISSUE. Central Railros " e Commerce Cowin 100t 118Y% e 11 any w ’ 5 % 5 tificates, 102% 4 ‘. hain | ref5s.. 1 ufon Pac ev 6s.... 11 101% (0L trginia Ry 1st 68, 1 Y 107% 10 ARy & PGs 110t 101 101 Wabash 8576 B.... 15 102 100% 1¢ Wabash 5% 75. AU UTLANT West Maryi 13 81 83% 84 Western Pacific 5s. 15 100% 100 100 Wis Cen gndsey... 5 Bl% Sl sion The new rolling HIGH-YELD BONDS INDEMAND TODAY Foreign List Active—Marke! Lacks Snapof Closing Days of Preceding Week. | BY CHARLES F. SPEARE. ial Dispatch to The Star. NEW YORK, August 8.—The de- mand at the opening of the week was for bonds vieding 6 per cent or be(lor' ind the possibility of some apprecia- tion In price. This led today to an active market for the foreign Issuvsi |and new high prices for the year in te a number of them. The most popular group was smnh\ American government and_state is- | s. These have been bhackward for some time. In the case of the Chilean Londs there has heen considerable Jiquidation through the Summer. Now however, sentiment toward them ha ¢ a radical change. Chilean i1 today, compared with w of §9, and the § per at the highest of the year. e bank list improved with | prarit 5Hhds Gain. | bonds have acted poor! ne, but for the past few | »d demand. have been in g s session the 6les gained a which placed them at 93, com- | with 8) a short time ago. All| e many Argentine 6 per cent | were up to par for the first | time this year. Peruvian Tlas were at | | beost ope oup was not nch 7 French city ind Soissons 6s all reflected | nd, even at the new price | Belgian 7s were higher than | e Gs were up % | ind was obs neg- | 6 mestic list arp advances in some Japer, oil and tire company issues. "The Jocal public utilities were irregu- | {1ar. Brookiyn Union Gi made i Third Avenue in- comes were Brooklyn-Manhat- an_ Transit 6s were firmer, as were | son and Manhattan refunding and | ncome 5. | Legal Rails Firm. In the rail list the legals held most | « last week's gain, while the new | speculative bonds were quieter and | soft. About 25 high-grade railroad, | public utility and industrial bonds sold | last week at the year’s highest. cet did not have the snap inguished it on Thursday and | Q was much quieter, There ling that it had been rushed However, in those he n: di; iday 2 was a fe up rather too fast. parts of the list where the largest ins occurred there were no signs of akness today. The almost nominal amount of new fferings, day by day, is proving of great value in strengthening the teche nical market position in anticipation of another large volume of new offer- INCURB DEALINGS | 0ils Are Under Pressure—O0f- fering Liberal in Industrial Specialty List. BY WILLIAM F. HEFFERN! Special Dispatch to The Star. VEW YORK, August 8.—Following last week’s developments in the polit- ical and industrial sttuation, specula- tive Wall Street camc down to busi- °ss in a confused frame of mind. were inclined to believe that the liquidation, which was urgent at i als during recent sessions, had been completed, bu : Market opened further offerings came {in ‘he prominent industrial special- | ties, carrying prices still lower. There- ncountered at in- s, but little or no attempt was to rally the market from the N. | made | current price level. Rumors that a rupture had taken place in the agreement to curtail out- put of crude oil from the Seminole | field were promptly denied, but the oil shares continued under pressure. Standard of Kentucky, which had rallied Saturday to its high for the vear, was almost 2 points lower on the day. ndard of Indiana following its recent recovery was pressed for sale *low 73, while Prairie Pipe Line and cutm Oil lost more than a point. Whether or not attempts to regulate | production are to be successful, the | fact remained that this would have | no effect in stimulating consumption 1d this red to be the chief ide m so far as speculative et was concerned. utilitfes resisted the :e'flml-t th most other groups. Gas & Improvement was t bel 111, Southeas Power crossed 37 for a slight and Electric Bond & Share 1e time was more than a half nt higher. The better grade utili- re_thought to be selling at a evel wholly justified by earnings and e looked upon as heing in a posi- to make further response to spective expansion in operations Alden Coal shares furnished | one of the few outstanding incidents at | W ] Pub! better United well takén ju ern I tion pr lon the side of rising prices. At 181 ed with 172 Satu s - Manville, Safy Stores, Cuneo Press and Metropolitan recorded ores substantial declines. rading fell off appreciably as the progressed. -The active pr fessional coterfe was content' to let the market take its natural course and apparently was iting new elopments before doing anything in a large way on either side. ession RI EIPTS INCREASE. NEW YORK, August 8 (f).—The even' principal French railroads had | | sts for the first six months of of 6,312,009,000 francs, an in- ase of 416,654,000 franes over the period last year, the Co. of New York is . COTTON GOODS QUIET. NEW YORK, August 8 (Special).— Cotton goods market continues quiet at t art of the week as print cloth | prices advanced % cent at 9 cents for 68x72s. The standard 64x60s re- | mained unchanged at 7% . Raw silks quiet at unchanged prices. FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Clor' B '.u T —— Following is the list of bonds and stocks traded in on the New York Curb Market today: DUSTRIALS, £ High. Tow. Close. 138% 138 134 % A Pandreds. 3 Ala Gt Sou pf 1 Alb Pick Bar v 4 Alb Pic B A pid 1 Alum Co n 2'Am Arch Rayon” ’m:l Rolling M. Superpow m Superpow <0 Gas & EI Corp > Bohn Alum. . Brill Corp B.. @ Bu cy Buf Niag © ¢ Can_Marconi NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office 6Det Cty G 00 100 4Det Inl 6% 011 101% 1Det Ini 78 .. " 1003% 100% 100 13 Eiting Schild 63 977 974 97 17El Refrig 6s... 73 71% 71 PMEmp O &R 5% o6 8 08 b Fairb Morse. e 96% 96% Kk Tires 5% 7 A Rolt_5 Sig Pet 7s atineau Pow tineau Pow 36 Inu P 11P &L bs 1Int Pow § 8 Kon G_& Cof 39 Leh Pow s 12 Lorillard Blas.’. . 5 Man Pow 5104 4100 3 Mass” Gas' i 4 Mont_Pow MLHG&P 8 Mor' & o 7 Co 4 5 A 10173 Nev Cong Con b8 08 1Nor St P M 61s103% 7 Ohio Pow 4168 «’1 Freshman_Chas. 4 Fulton _Sylpho on Bak B F m Iee C f Alden { Gone P B ofd X vie SHorm 5Indust R § Intern Ut roger 5 Kruskal ‘& K Cor ‘war. Metro™ Chain_ S Vst B 1Al St Prod. 2 Mid We 15 Mid W Missouri P ohawk Hud P ohawk Val n 1 Municipal v P& > pid. Northe Pow 1 Penn Gas & E Penn O B Penn Wat P ¢ Peop Drux 29 Philip M, 5 Philip Morri; 1 Piedmont & X 8 Pilisb FI M n 2 Pillsh 1 M n pf 10 4 Pratt_& Lamb C. Pug S P & L. 21 Pullman_Co 3 Pyren Mk . 19 RS Mugc % Real Asen Bkiyn Reo Mot . 4 Rep Mot Trk 1 Rich”_Rad 2 Rich Rad convof Pow. et Timken Axle Tob Prod Exp Todd Ship. Trans Lux’ Pic Trumbull _Stl. .. ub Art $ B vie Jni Art Thea Cir Biscuit A.. Biscuit B i a8 C s L & P AT s 2 by Un Uni U b U U ..__-'ma..cm-—- Shar opt wy “m & Bond A t & Bond B Weit Sidl Tat b Westzse Air Br n 8 Wesson 0 &S vic i Wesson_O&sn pf 4 White SM db rts Sales MINING STOCKS. in hundred 10'Am 0 20 Ariz 3 Bunker 10 Butte 3 Cons 0 Divide ireka ¢ Thongnt < Cop. sleSynd 5 Emp G & F 74D 113 Emp G & F 8 p 1067 8 Gibson OIl cor Lone Star G’ n' D 4 «\nw.. Ohio ount_Prod 2 ew Mex Land. 1 oil 1 ol Corp 18alt Cl Pr i Osage O NV Venezuelan Mex BV an “Pet 1 Wilcox O&G n.. 1 Woodley Pet n Sales STANDARD OIL IS m uits. Anglo Am Oil. . 300 100 ¢ 700 Cont 5%00 Humble Oil & R 150 11 P L 1500 Imp O of Can'n. 100 Tud P L 191 200 § 2600 Vacuum 01l Sales, mnwuud-. Ala Pow fs 3 Alhed B 22 Al Chalmers m s B -} 28 e 5322 s e T § b OS85 oBoHBRC S hm‘-'wma-—._. :g:;>>>> iw A s A [ s A100% 10 100 © 101 100 © 30101 § Rb 418 P & Lt a7 101 101 ¢ 100 3 Sales in thousands. Air } Pos 42 Copenha 2 Merid El 78 AL, 3 Montevideo 6s A Bk Den 6. 10 i Jedellin 8510 cellin, 73 9Sax § M In 643 13 Serbs s B. . | 1 Stinnes H 7 4 Trondhi' 5 11 Tyrol Hydro E 17 Uni El Ser 78 those at the close of business on De- cember 31 last, while the total deposits was $4,721,007.31. The total resources of these time of the last call was $440,226,- The 15 mutual savings ban State made an even better from the standpoint of depositors, which increa 892.04, whi $8,640,285.14. § e MUCH TOBACCO MOVES. BALTIMORE, a August 8 (Special).— the previous week, eaving a stock in State tobacco ware: houses of 11,790 hogsheads. Quota- tions today for leaf tobacco per 100 149 hogsheads pounds: Inferior, 5.0028.00; fi sound common and & 16.00; good common, Medium, 31.00240.00: good to fine red, 41.00255.00; fanc seconds, com- nomin: leaves, SILVER QUOTATIONS V YORK, August 14; Mexican dollars, N silver, 1034, GERMAN BONDS AND STOCKS e ;‘r»:n: Star million ma: Bil 20010 By Special Leased Wi NEW YORK, (Quoted in dollars pe Gt (w In) 5s 1914-18 e Flec) pfd’ | and’ Privat Farben onto Gellse er Hande r T Commerz Chemical AEG ( FOREIGN fXCHANGE. by W.B. Hibbs & Co.) (Qu stations furnish Boulin. _n ome. dira Zurich. " franc Athens. drachn Madrid, peseta. A, crown apest. crown Prague, crown. . Bu Warsaw. *zloty Copenhagen, crown.'. Oslo._crown. ........ Stockholm. erown NEW YORK, eign exchanges (in cen 485 11-1 G0-day bills demand, , demand, 5.44; cables, 5.44 Demand — Belgium, many, 23.77%; Holland way, 25.84%; Sweden, 26.771%; Switzerland. 16.8414; Greece, 1.30% Czechoslovakia, 2.96%; Jugoslavia, 1.76; Austria, 14.03; Rumania, .62 tina, 42.50; Brazil, 11.85; Tokio, 59.7 Montreal, JURY CERTIFICATES. by J. 13.00%: 40,053 80; Denmurk, 19. Span, Poland, 11.2: | Maryland’s 145 State banks and trust companies and its 15 mutual savings banks made healthy strides during the increase in of the showing amount due | $7,420.- | total resources increased | | | | | | | Both receipts and sales of Ma nd leaf tok continue heavy, the for-| mer totaling 2,091 hogsheads last week. while sales amounted to 1.919 hogsheads. This compared with sales of 1,981 hogsheads and receip of | \ il | | mon to medium, 5.00a24.00: seconds, good to fine, 25.00a45.00; upper country, ai 4, 8.00225.00; ground | 8 (A.—Bar| 512 % FRED T. NESBIT 1010 Vermont Ave. Maio 9393 FIRST and SECOND MORTGAGE LOANS On Washington Residences Business Properties PHILIP MILSTONE 1305 D St. N.W. M. 1929 OFFICE SPACE SAUL BUILDING 925 15th St. N.W. Abundant light and alr. Ex- cellent service. Several desir- able rooms or suites. Unex- celled location. Modern eleva- tor building. Prompt Action First Mortgage Loans| Lowest Rates of Interest and Commission | Thomas J. Fisher & Company, Inc. Rents Recently Adjusted B. F. Saul Co. 925 15th St. N.W. Main 2100 RY CLEANIN AT WOODRUFF'S is of the Highest Quality and i it costs you less Light Spring Overcoats, $1.00 For_Estimates. Maln 110011017113 Buck & Company Eatablished 1916 G. M.-P. MURPHY Stocks Bonds & CO. Grain Cotton Mer & k“u‘.:l!r’r"?r call for weekly mar- - Exchange ‘ No Obligations Buccessota fo . BUCK AND COMPANY JOHN L. EDWARDS Evans Bldg. 1420 New York Ave. Franklin 7300 & COMPANY of our Fortnigh sent on request 1416 H Street Northwest FIRST MORTGAGE 7% BONDSZ Secured by Completed Building Denominations $1,000, $500, $100 Call or Write for Clrcular 52 Broadway, New York Richmond, Va. Marlow-Beech Corporation 1615 Conn. Ave. Pot. 6167 Offerings Wanted ‘ We Buy and Sell | i Liberty Bonds | Miller *Ex !|l\l4|0'n41 Eliaegto o Treasur | g MARYLAND BANKS EXPAND u y NOtes Train | BALTIMORE, August 8 (Special).— - Ete. | Control i Bond Department : The Washington Loan and | | | | first half of 1027, according to the statement issued by State Bank Com- missioner George W. Page | Trust Company The report shows t the State- i 4 regulated banks and trust companies| J H H hh & C increased their total as to||| 900 F Street 4 Irsinorn 0. June 30 last by S over | 620 17th Street 60 Broad St., New York | |||l Tetephone Hanover 5573-4-5 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:% INTEREST AAppily to H. L. RUST COMPANY LOAN CORRFE.SPONDENT Ghe PRUDENTIAL INSURANCE COMPANY of AMERICA 1001 15th Street N.W. Main 6888 The Second Fifty Years HERE may be some people who be- lieve that the FIRST fifty years are always the hardest. But we think differently. The t fifty } years are hard. Yet the second fifty years | are often HARDER. For these may bhe years when the remorseless tedium of work is almost overpowering. On the other hand, they may be years when every dollar you have saved in your younger days is working for you—so that you can enjoy the leisure that you have so well earned. Consistent saving and regular investment in the First Morigage Notes offered by { Swartzell, Rheem & Hensey Company have | enabled thousands to remain financially in- J dependent during the SECOND fifty years. -| And our First Mortgages can do the same for you. Swarlzell Rheem &Hensey Co. v Mortgage Bankers 727-15th. Street, N.W., Washington.DC. 58 Years Without Loss to An Investor