Evening Star Newspaper, November 23, 1927, Page 13

FINANCIAL, BULLS HOLD SWAY ON CURB EXCHANGE Profit-Taking Absent—Hy- grad Food Products Bonds Again Soar. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, November 23.—In view of the suspension of market ac- tivi over Thanksgiving, — the strength of stocks on the Curb Ex- change today was even more impres sive than it had beea early in the week. Profit-taking sales ordinarily are an important factor on the eve of a holiday, but those who had profits appeared in no hurry to take them down. Interest naturally centered in the spectacular Hygrade Food Products 6 per’ cent bonds, which were offered for subscription at the start of the week at 9912. They reached a new high record at 136 today, but buving s not as excited it had been immediately following their listin The rise in this issue is comparable to that which occurred immediately after the listing of Kemsley-Millbourn 6s. Of course, the conversion privi- lege in both was the in- centive for the 1 appreciation, but it was noteworthy that it was the same bankers that offered both issues for public sul In the outstandirg into new h s k division one of the features was the upturn h ground in General Fire- proof. Crossing 100 it compared with the last previous sale last week of 93. Evidently there were other in- centives aside from the technical market position of the stock to ac- count for the strength. The company has been paying dividends at the an- nual rate of $5 a share, and because of improved earnings there was every reason to .believe that stockholders are in line for larger distribution next year. There appeared to be no top for Newmont Mines. At 121 it was up from the previous closing of 117%. Newmont is one of the largest hold- ers of Kennecott Copper purchased at prices considerably below current market quotations. The appreciation in its market value and the better outlook for the copper metal market will work out advantageously for New mont, if not because of its prospective output, because of the improvement in its asset value. Rumors of another stock dividend possibly amounting to 15 per cent was the basis for the buying which carried Bancitaly Corporation stock to a new peak Industrial Rayon was stocks traded Curb Market today: Sales in hundreds, 2Alh P Bar A DM Allison Drug A 1 Alum Co n.. 2 Am Arch Co 1Am Br Bov El L,Am B B E Cigar s aAm CSahamial GAm D S... 35 Am 1Am am m iAm INDUSTRIALS. Hith, S & Cp nfd Suneriow A §unerpow B: Plywood uburn Anto € aneitals” Carn s s T pm S 4 Bohn Alum 0 Barden Co . g Brazil 1 & Ti Jrideent’ Mach . Cetan Cor A mn’ m 1 pt clinloid Co m.. . Co 1 pfd: P A ont Sta, Bt Spring & B 1 TN UNE ww 2 M&ESP n pf wi 83 vt Commonwith P nmmm Com P norte wi, 1% Consol Dairy P. A% Balt ‘1 gl “rown Wilm v artis Pub pfd. 2 Daveza Ine 3 Davenport, Hos. 2 Deere & Co 3 Do For R C 4Da FRC xte of a 7 Dubilier € & R. 1 Durant Mot 1Duz Co A. 11 Iovest Inc, P& L 2 pi'A10: mp Pow Cor n 3 tey Welte C A ageol Mot Co. Fajardo Sug Co. 15-4 1 e ‘.w:r_..; restone Tire. . . or Pow 78 i 106% Foote Br G & M _17% Ford Mot Co Can 573 3 Forhan Co A. Foundation F A 3 Fox Theaters A: 3 Freshman Chas. Fuiton Sylphon rod Co » Pn priz” . Cream It "k prominent among low priced special- ties at a new top. Ohio Oil and lllinois Pipe Line fea- tured the Standard Oils, both reach- ing best prices and others of the group went along simultaneously. Numerous utilities bore their share in the improvement. WILL ORDER RAILS. NEW YORK, November 23 (#).— The Southern Pacific has placed tenta- tive orders for 95,000 tons of rails. Distribution will be announced in a few days. The Rock Island has pur- chased 50,000 tons of rails, of which 40,000 tons went to Illinois Steel, sub- sidiary off United States Steel, and 10,000 to Inland Steel. Chest Drive Near Goal. Special atch to The Star. DANVILLE, V: November 23.— Danville’s community-chest drive will close tonight. The sum sought this year is $66,000, for eight charities. The total raised in two days was $61,- 616, pledged by 1,606 persons. COTTON GOODS QUIET. NEW YORK, November 23 (Special). —Cotton goods markets were again quiet today at unchanged prices. Print cloths were quoted at 8% for 64x60s and at 9% for 6€8x72s. Trading in raw silks was suspended owing to the holiday in Japan. RUBBER ADVANCES. NEW YORK, November 23 (Special). —Crude rubber, smoked ribbed sheets, advanced 7%c at today’s noon quota- tion of 39c. This compares with 343c a month ago and 37%c a year ago. SILVER QUOTATIONS. NEW YORK, Novmber 23 (#).—Bar silver, 57%; Mexican dollars, 44%. CURB SEAT AT $40,000. NEW YOR] November 23 (P).— Value of membership on the New York Curb Market touched -a new high record of $40,000 today, the seat of John H. Fitzgerald going to H. W. Ford, at an increase of $5,000 over the previous sale. Baltimore Markets BALTIMORE, cial). —White 1.00a1.75; A potatoes, barrel, 1.50a1.7 rel, 2.00a2.50; beans, bu beets, 100, 3.00a4.0 quart, 10al8; cabbage, caulifiower, crate, lery, crati A30; lettuce, hamper, onions, 100 pdunds, 1.00a 1.75; peppers, cr: 00a3.5 160, 10.60a20.00; parsnip ; Sav bust November 23 (Spe- 100 pounds, 3.00; sweet 25 ;asu. tomatoes, barrel, 2:50a 3.00a7.00; grape- rapes, basket, 1 box,’ 4.0026.00; pears, bushel, oranges, .00, Hay and Grain Prices. Wh Yo. 2 red Winter, export, 1373 red Winter, 1345 red_Winter, export, 1 licky, ¢ Corn—No. 2 yellow cob corn, old, nominal. domestie, 1.00; 4.9025.00 per barrel, 2 white, white, dome: domestic, 1.00. 6 tons. New hay 1 only limitéd quantity. not beingofficially graded and sells strictly on its merits, Within range of 11.00216.00 a ton, timothy and clover grade Straw—NXo. 1 wheat, 10.00214.00 per ton; No. at, 13.00a14.00. Dairy ¥Farm Products. Poultr: 45; old, 18 arriving It is, ther rkeys, pound, poor and crooked pring chickens, 24; poor and thin, ghorns, 17 small and poor, 17a18; 3 30; guinea fowls, Leghorns, 18a20; hens 3 old_ roost ducks, v—Turkeys, poor and younz chic mixed, ducks, 2 pound, sa rooked 30; ns, 26 and breasts, nld 28; geese, ses; native s, in free sh, doz- en, 48a’ Bmler-—(;nod to fancy creamery, Pub Ser. i5 Pub S°6s pt100 1 Pow pfd. 1% b Glen Alden Coullfifl B Gobel A .. 6673 o Grand Stores 44 %, Grand Stores Dra 1241 Greenf Tap & Die 13 9 Hall _Printing 307 63 Hanbiness C Hellman' B wai! 1: it 5 Hershey Choc n. Hershey Choe pfd Fo s 1 2 Holland Furn: Huylers pfd. Imp Tob Ca 20 Ind Ray Cor A1 11 Insur Co N 4 1 0 3 Hors Choe n vfd 10 1 1 0 SRR SR iLen Var ¢ gatea 11 Sene'sh & 'ib_Owens 3 Maen "Gan “C Mavis Corp 22 Q{m.-nnnuxmr i May Hosiery pid. 1 e Cory o was Bo o RERZ.3Z5 80 o P e - R RSEINRERE 48 o T s 35 [ iz 1S53k 102 T o amo_¥ L, R g o1 Benn onio Sec., . Pen «a p_ vl 2P Wat Pow C n 3 Peon Drug Store 24 Philip Morris. 3 Philip Morris A 2R Pigely Wiggly n 2 Pittsh & Lake E1 23 Portero Sug wi 1 Pratt_& Lamb C % Puz S P&L p pf. 110 ! Real Assn Bklyn. 281 86 Reo Motor o r s 20 1 Rhcde Ts Pu e 30 1 Rich Rad_env pf 403 Safeway Stores.. 320 3 Sanitary Grocery 228 4 Selfr_Prov Stores ~ 4% 3RSer E € n xte wi 1 nz R C OSSN PARRAR BARR R ualpiommzsa S WSS FRRERSRRRRRLERBESE5E 1950 SRE3Z #rR B2 198 2 REEFER ot R er ISl E B wid 51Sou P & L n. 5 Sou P & L vic G Son P & L war % South P & L pfd1 9 Sparks Withing. St Reg Pap. 33 Stand Pow & Lt 32 3 Stand Sanit Mfx 1 - o ol Do B 1010 Timken Axle 1Tob Prod Export 1 Toda ship Trico Prod ' 7 ’l'rmu Lux Pic 10 Trumbull_Stl 13 Truscon Stl 4% Tc 1 Tung Sol Lamp. B Tung Sol Lamp A 3Uni Bisenit A 1Uni Biseuit B 8 U'n El Coal vte 50 Uni ‘Bis Am wi ni Bis pf . ni G Imp © 1 & P M sesantSuustonSin W t Dai Prod ‘A t Dar P vte B at Aite Sipt 2 Wesson 0&Sn vie Sales MINING STOCKS. in hundreds. 404 C M & M Ltd 05 Explora. .~ 1% East Min ,Z % Ui Verdo Ext. A Con_ Oifas ) 14 Carib Synd ‘ 85 P GAF B b1 108 uif Gil of Pa 1% Houston Guif G 2 Intercontl Pet. . 1 Lion Ol 9 Lone Star G 1 nd 1 Margay "Oil n 3 Marland Mex 10 Mex 0i) 7 Nat Fuel Gas'n. 6 New Bradford O Pantepec Reiter Fo blocks, 51a53; 5 34236; store packed, 33 d\m.v lum\sA 34a36; Process, 41ai Richiield Oil Cal. BEAN FRF = A =39 FARFR Sy S pd & OREEE, [y ot n D LSS, - om SEEPE R eg R IR e e B8R0, T T - Rt SSESER Sich e S50 Following is the list of bonds an in on the New York ¥ azEEiaxn o L2 ERFFRARS R RBAR EAPR THE EV. NING STAR, WASHINGTON, . C., WEDNESDAY. NOVEMBER 23, 1927. NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office a1 Sales PANDARD OIL 1SSUES nunits "0 n 1 3400 Hamige O & 00 Himble Ol & 200 111 P T 100 i Qe 5000 Prairie 0 & 400 Son Pann 0 0 840080 Indiana . 1008 0 Kansas 4008 0 Kentuek S 0 Ohio n . 2000 Vacuum 01l 118 Sales BONDS. in’ thonsands 2 Ahhott Da < 03101 1 He 0 i1 & G aind Batr 17 Inl Match Tnterstat Invest Cor 4 Ia Neb LP bs A Kon Gas & € B3 A Lehigh Pow @is 20 Lib ) 66 Lone L Manit P 5 Midwest Po; orris & Co 1 P Cor 10 Potero_Sug 7« Wi 80P S EG bihswi 2 Pure OI G155 A L Riehfid oil 8 4 loss Sheff 6 20 Snider Pack_ 6s, 1 Solvay & 1 580 cnl E 20 'S0 Cal 1 Dairics 1 Gas_6 "{ Sonen 4«.<.m Maid R & Lo b n & Co (5. Tha 615 Bie Am 63’ i 10014 i T4 & R 5lhs 993 S ¢ 1 A 095, Ch Bi sy 104 Cent Bs... OR% Youngst 5s A’ wi1013 FOREIGN BONDS. in thousands. 1 Adriatie Elee Ta 18 Agri M B 7s '8 16 Azt M B 7s '37 SN i 1 Buenos A 1 Bnenas Air first Boh W' 7s., ree St Pr 6s er Cons Mun 7 fambure St § 1 ;ml M ’yk Fin 5 Isarcg Hy 12 Jug St M 8 Lombard EJ 7 Mendosa 7 i Medeliin 8s 103 Muni Medellin 75 herland 6 'S Mo_Ins 78 '4 SSerbe 78 B 28tin 0 78 06 'w tin H 7s '36 w g Gov Bl4s. Fl Ser 78 A Ste W 65 A idend. GERMAN BONDS AND STOCKS. By Special Leased Wire to The Star. NEW YORK, November 23.— Ger, Gov Red Loan with draw I; i *tach per k o Guc Gov Het omn. wlimint D00 8700 dray cufs ver-1 noted in Hambnre 434< (Q10ted 1 Krupn ‘5< 14 Duseelderf 43 Frankfort a. Munich 4 bt B Comors & Brivat Bank TG Farhen 17500 49,00 90 00 7 00 500 4R 00 900 70 13.00 80 Dresdner 1 Deutsche Austrian “LADY GOD!VA” CAN COME TO ARTS BALL—ON FOOT By the Assocfated Press. CHICAGO, November 23. — Lady Godiva will not ride at the arts bail Friday night. She will appear on foot. After a fortnight’s debate the en tertainment committee has decided that a horse in a machine age would be somewhat ridiculous, even though it followed the legend of the lady who rode throuzh Coventry draped only in her long flowing hair. The pageant is supposed to repre- sent life in 2,000 A. D., and the com- mittee spemed to think that by that time horses will be extinct. There have been numerous appli- cants for the role of Lady Godiva, but no announcement of the committee's choice has been made. BUTTER UNSETTLED. CHICAGO, November 23 (P).—But ter, unsettled; roce!]ns, 4,667 tubs; creamery cxtras, 491 ndards, 45%; extra firsts, 45 haos: st 40704 Seconds, 36a387; Eggs, 3% unchanged; receipts, 4,216 cases. 2 BSRRER # o | market to reflect full WHEAT IN SETBACK ON FOREIGN NEWS Lower Liverpool Prices and Gain in Argentine Yield Have Bearish Effect. iated Press, GO, November underwent a decided 1 ed by lower Liv than had been looked . the final official report a that Argentina has - of wheat this year. & L year rting 4 , whe: owed a ma- furthe oats and corn open- and sub- soon p. Corn, so weak, o lower terial menting <h effect to- failure of the Liverpool wheat rday's ad- Vi were assertions current [ for all damaze to date indics Argentine crop is 0 bushels Argentine plus 132,000,000 bushels, .dictions appeared to be the Argentine government nate of 450,000,000 actes the 1,000, exportible s e on hased final | more whe rs of wh it v derived addi- dvices that \ffected vies to elevators were re- 2 million hushels in ex- sponding day a year an increase of in wheat production cclusive of “anadian rted ag half of the cor Furthes 7.000,000 bushe of exporting countrics, e Russia, was noted TURKEY BUYIG SLOW I MARKET Plenty of King Birds to Be| Had — High Prices Blamed by Dealers. “In a bad shape” was the comment of a poultry dealer this morning, : the condition of the Tranks- turkey market. “There are plenty of turkeys to be had, but buying is not brisk” he added, nd weather conditions are such that the stock on hand will have to be disposed of.” this morning, especially in etail market, was below normal. according to reports, and a dealer sug gested the probability of a break in the market long before the closing hour. High prices were blamed for slow n Farly morning retail prices con- tinued at from 55 to 65 cents, most dealers holding to the 60-cent price, Dealers had supplies of the king bird from all sections, many of them from Texas, and in splendid condition. There have been practically no con- demnation of turkeys thus far during the Thanksgiving marke: season. Many consumers contented them- selves ‘with the purchase of chickens, ducks, geese ar bbits, their pri continuing at prices quoted the past few day! A continued firm condition of the butter and esg markets was reported, and pi of most commoditics th morning were substantially the as prices reported the past few Today’s Wholesale Prices. Butter—Fresh, 1-pound prints, 64; tub, 51a52; store packed, 30a31. sgs—Iresh selected, 5 current receipt; Poultry, alive — Turke: fowls, small a hen- 40242; a23; large, ; roosters, | young, 702 [ Dressed—Turkeys, 45a50; pring chicke: 33; roosters, 18a capons, fancy, heavy, i keats, 80290, killed—Beef, 18a20; h_ham, 3; ducks, fresh 7; lamt loins, 232 smoked_ hams, 17a18; strip ba n, 24; lard, 14; | s, 15; lambs, 13. Fruit and Vegetable Review. Today’s market report on fruits and | vegetables, compiled by the Market | News Service Bureau of Agricultural | | light, market dull; too few sales re- ported to quote. | Cabhage—Supplies light; demand | fow sales; New hundredweight, ; South Carolina, —Supplies liberal; demand ate, market steady; New York, a alifornia, full en, best, 4.75a5.00; few quality and condition, Lettuce—Supplies moferate; ~ de- mand moderate, market about steady California_and Arizona, fair quality and condition, 4.00a4.50, mostly around 4, moderate, market steady; New York, 100-pound sacks yellows, U. S. No. 1, i 1.60a1.7. cks, yellow o size, 1.75a1.90, igan, 100-pound s No. 1, 1 around 1.§! Potato Market Dull, Potatoes—Demand light; market | dull; Penn 150-pound _sacks | round wh No. 1, 3.15 Michi 150-pound sacks Russel 3.40, iberal; de weal; Florida, , green, wide rang= mostly 1.50a2.00; South Carolina, bushel-hamper green. 1601 y around 1.50. Tomatoes—Supplies very light; de- mand d for good stock, market “alifornia_lugs, ripes and turn- wrapped, 3.5013.75; few higher; 10-pound haskets, hothouse light; mostly Tiht, ! bushel b prices, 1.0 3 market demand 3 Florida, fine slow, ma L ) pepper ¢ B .50; quality h Cucumbe ales reported. Peppers—Supplies moderate; de- mand light, market dull; Florida, pep- per crates, fancy, ’l 00. Supplies very light; no TREASURY CERTIFICATES (Reported by J. & W. flp Rate—Matny e 12" FEDERAL LAND BANK BONDS.| (Quoted by Alex. Brown & Sons. - Closin FRRAARRAECR coffee plantations in Porto 'Rico are being equipped with heavy tractors, | 3pecial Di Apples—Supplies moderate; demand | © | are cle: TRADE HAS MANY THANKS TOOFFER Many Plants Utilize Holiday to Put Machinery Into Shape. BY J. C. ROYLE. batch to The Star. NEW YORK, November 23.—Busi- Jess in general was in a thoroughly (hankful mood as it prepared today for the iast brief breathing space in the race to the year's end. In fact, it was not even a breat pace for thousunds of worke iny of the industriai plants utilized ihe holiday to put machinery in shape for the final specding up of the year, or to start inventory taking. It was a day of heavy effort for the window dressers in thousands tores. Behind the drawn curtains they prepared the first pretentious forts of the holiday display Building was ed, of course, for week end, but the present build- activity, even in a diminished ‘ms’ like a_hive of industry d with conditions in the build- lug trades five or ten or fifteen year The busy time of bricklayers, and others in the it is estimated, has t least one-quarter in the ars owing to the cold veather building. Some Mills Are Idle. Twenty-five per cent of the cement mill capacity is Idle. Twenty per cent of the paper mill capacity is idle. No small percentage of the lumber mill capacity is on short time and many cotton and woolen mills are idle or on short time. But in the case of cement and pa- per, capacity is admittedly high above consumptive demand, although de- mand is deemed sure to grow up to it shortly, Therefore the idleness is vol- untary and a protective m rather than a necessity. The same s true of lumber, although scasonal {rends also exert an influence in this commodity. When it comes to textiles, some cf the mills not working are antiquated and there are daring iconoclusts who do not hesitate to say that some of these mills have sales policies and managements as antiquated as the machinery. Not enough coal mines are idle, and as a consequence coal remains one of the sore spots in the business anat- omy. The producers of electric light and power are showing decided in- creases in sales and new customers as compared with last year. The auto- mobile concerns will utilize the holi- day to clear away the last of the deadwood from the alleys and set the pins for their production and sales forces to shoot at. Turkeys Bring Good Prices. Certainly the producers who fur- nished the Thanksgiving dinners for America’s millions had little to com- plain of. Turkeys generally brought excellent prices, although the latter were determined, as always, by weather and the condition in which birds reached markets. A tremendous volume of geese, ducks, chickens and other poultry were consumed and brought fine prices. An exception to the general strend in tur noted in the San Francisco district. Dairy products have been universally high, with small stocks on hand and a markets for the products. Beef, veal and lamb are bringing most satisfactory returns, both to the | packing houses and to growers and The price of pork and pori | products is not as high as it has been, | feeders. but has left a nice margin of profit for producers and distributors, Cran- berries, owing to a short crop, are at high prices in all sections. Potatoes both sweet and white, are bringing growers excellent figures. Onions, turnips and celery are fully up to normal prices. Fresh Vegetable Supplise. The real feature of th 1927 Thanksgiving spreads, however, is the presence on most tables of a wide variety of fresh vegetables. The South and California are pouring magnificent shipments of fresh fruits 1nd vegetables into Northern markets as well as supplying local demands. The truck garden shipments from the South are going to do much to make up for the flood damage of the earlier part of the year. Citrus fruits are all high, owing to the short crops. Cali- fornia was overburdened with her ape crop this year, but a lot of the surplus will be removed before the wine ses and the nuts and raisins red away. The crops of vari- ous kinds of nuts are bringing fine pric More cigarettes will be sold and smoked tomorrow than after any Thanksgiving dinner in the history of America, and even the cigar, which for a time seemed to have lost its prestige, is returning to popular- ity and the profit column. Business men in general took the attitude they were thankful they could do business in the country with the highest average income, the best health rate, the highest wages and the largest buying power in the world, and set themselves to take full ad- vantage of the opportunities these factors afforded during the remainder of the year. President James R. Campbell of the Youngstown Sheet & Tube Co. to- day denied that the bond issue of that company sold by Kuhn, Loeb & Co. nad anything to do with any plans for a merger of independent steel com- panies to rival United States Steel. itumors to this effect have been cir- ted widely here. Guaranteed Mortgage Bonds, paying 614% inter- est. Payment of principal and ’ interest un c onditionally guaranteed by Equitable Surety Co. of New York (resources $2,000,000). Secured by real estate trusts on owner-occupied Washington property. Available $500 to $1,000. Maturities 1 to 10 ] years. Deferred paymcn(s if de- ' sircd. Pleaso send me more information about Insured Mortgage Bonds. Name ....... AdAreas . ooty osvonevas FEDERAL E Security & Mortgage Co. MORRIS CAFRITZ, President 1 Capital and Surplus_§750,00000 | 1412 K Street N.W. Washington, D. C. HEARING ON DALLAS BANK POLICIES SET Loan Practices of Eleventh Federal Reserve Attacked Recently by Country Bankers. By the Assoclated Press. DALLAS, Tex., November 23.—The board of directors of the eleventh fed- eral Reserve Bank have set December 12 as the date for a hearing relative to the policies of the bank and their application “by the governor of the bank or any other officer.” Loan policies of the bank recently ked by a group of west anks on the ground that coun- kers and thelr customers did i “due consideration” and he loans frequently were called on to permit the producer of cotton to realize the full value of his crop. It was further charged that Gov Lynn P Talley of the Federal Reserve Bank was out of sympathy with the FINANCIAL." original purpose of the bank, and a movement was started in some quar- ters to procure his removal through her; strong t strong election of directors not favorable to f<hi s tenure. Results of this election, taken by mail ballot, will not be known for some time. The bank directors have instructed that an invitation be extended to mem- bers of the advisory committee of the stockholders of the association of member banks to be present at the December meeting. It an nounced that the chosen date was sat- isfactory to J Wiltiams, in the wes s movement against the bank’s CHICAGO LIVE STOCK MARKET November 23 ment of Agric s, 18,000 head; ure). generally her: top, 9 ) to 300 pound ; 170 to 200 pound 0 pou 2 pound most pig; sows, T 8.40. Cattle—~Receipts 9,000 grade weishty fed ste verazes, $.400%.83 host or better; packin and cho 8.8029 15 130 850 bui weight 0 INVESTMENT BONDS The Investor SELECTS! He does not merely Buy. Securities — It represents the best of its class; BOOKLET 523-G 929 FIFTEENTH STREET Telephone Main 5847 WASHINGTON ESTABLISHED IN 1882 prominent | 3 (United | 14 00; !u\\rr grade and light 0 25 up: other classes s paid 18.6: steers, med odd imbs unchang RACK LIFF RESIGNS NEW Herbert Critically Chosen When a bond is laid before you with the recommenda- tion of S. W.STRAUS & CO. you may purchase it with confidence, in the full assurance that— ~—It has been carefully investigated and thoroughly safeguarded; ~—Tt bears the sponsorship of a responsible and experienced House; AND FINALLY — ~—That it is offered for your approval and selec- tion as a security well adapted to your own particular needs. We suggest that you call or write for our offerings of sound securities,including a wide variety of first mortgage real estate bonds safeguarded under the Straus Plan, yielding as high as 5%2-6%. Ask for S.W.STRAUS &: CO. INCORPORATED YORK L. November 23 Rackliff, pre founders of the s Corporation ust, has re The Quicksands of Investment For the Consideration of those who Value their Money ANY millions of dollars are sunk annually in this country in the quicksands of promise and profit which unscrupulous promotors and others hold out to investors as “sure things, » easy wealth and luxury.” ‘wonderful opportunities to There is hardly a person in Washington who does not know some man or woman, some widow or daughter, whose fortune, large or small, has beeri sunk beyond recovery and repair in the financial quicksands that abound in spite of protective laws and repeated warnings. Don’t let your funds go this way. Don’t be lured by promises and assurances of big returns. Before you invest a dollar, investigate both the investment and the house from whom you buy. at Maturity. Shannon & Luchs welcome investigation. quarter of a century, no investor in a Shannon & Luchs First Mortgage Note has ever lost a penny. No interest payment has ever been late; no Note has ever been unpaid tained at all times in first-class condition. In nearly a Shannon & Luchs First Mortgage Notes are secured by first mortgages on improved Washington real estate. Mortgages behind the Notes are never for more than §07% of a fair, unbiased appraisal of the property, and in almost every instance are payable in full in three years. The In addition to the above safeguards, each Shannon & Luchs First Mortgage Note is endorsed by the borrower, who thus becomes directly responsible to the noteholder for payment and interest. Shannon & Luchs, through whom principal and interest are paid, see to it that the property is fully covered by the necessary insurance and that it is main- To the small as well as large investor and to those on a salary who wisely desire to build an estate for future con- tingencies Shannon & Luchs First Mortgage Notes provide maximum safety and a sure, safe return of 6% per year. Issued in denominations of $100,$250, $500 and $1,000 3-year, First Mortgage Notes, bearing interest at 6. For full particulars write, telephone or call in person SHANNON & LUCHS INCORPORATED First Mortgage Investments ‘TELEPHONE MAIN 2348 1435 K STREET, NORTHWEST kinds, she stock, steadv to tern feut and