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FINANCTA Money Availal for FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use Reasonable Interest and Commission Rates JAMES F. SHEA 643 Louisiana Ave. N.W. COMPLETE FINANC G’ 1st & 2nd TRUST MONEY On homes, apartment buildings and business properties. No apprai- sal fee. Prompt service. Real Estate Mortgage & Guaranty Corp. 24 Jackson Place Main 1403 "FOR STORACE Unconditionally GUARANTEED You Needn't Be An Investment Expert Special financial train- ing is by no means necessary to analyze the assured profit and safety features of our 6% First Trust Real Estate Notes. These notes are secured by modern owner-occupied homes in nearby Mary- land, and both princi- pal and interest are guaranteed by this strong company. 923 15th St. N.W. 4 Investment Bond ; Opportunities UR November offering list contains a summary of present market conditions applica- ble to investment securities and points out many high-grade bond opportunities available at this time. List sent upon request Stroud, Kurtz & Co. Incorporated Transportation Building WASHINGTON Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 INDUSTRIAL BONDS PROVE IRREGULAR in Stock Market. BY CHARLES F. SPEARE. | Special Dispatch to The Star. NEW YORK. November 13.— Con- siderable irregularity was shown in the market today for industrial bonds. These were affected by the movements in stocks, and at one time quite a large group of convertibles were quoted from 15 to 2% points below yesterday's closing. - There was also weakness in some of the special issues that have been making new low prices from day to_day recently. The market is overshadowed by the tremendous trading in stocks and again bond houses find it difficult to interest their customers in investment securities. However, the tendency toward lower money rates and the feel- ing that these rates will be more to the advantage of bonds helps to main- tain the higher level reached in the past month. Transactions in the strict- 1y institutional issues have declined to a small total on the board, and less is being done over the counter than a week ago. New financing has also contracted in volume. Tomorrow there will be an issue of $5,000,000 New Orleans Pub- lic Service Series “B" 5s at 97!, com- pared with the ruling price of the old bonds at 98. A number of other mod- erate sized issues are under consider- ation. » The copper convertibles were the weakest issues in today’s market. Ana- conda Ts declined nearly 3 points at one time and Andes 7s over 2 points. As the latter are to be called on Janu- ary 11 at 110 there is a steady move- ment toward converting them into the common stock of the company, which may be done at the rate of 44 shares for each $1,000 bond. Tennessee Cop- per 6s were fractionally lower. Among the oil convertibles Barnsdall 6s showed a loss of 412 points. Colon Oil 6s, Simms 6s and Transcontinental 6s were off a point, and the other mem- bers of the group were fractionally lower. ‘While there was a little recovery in some of the sugar bonds that were weakest yesterday, others showed a heavy tone. International Paper issues were under some pressure, and Loril- lard 5s broke 13 points further. The local tractions were unusually strong, with no developments in the fare situa- tion to suggest a reason for this. quite with prices. irregular. Washington Stock Exchange SALES. Capital Traction 55—$500 at 10212, Chestnut Farms Dairy pfd.—10 at 109. Potomac Electric 6% pfd.—1 at 114, Potomac _Electric 512 % 21 1087, 10 at 1087, 3! 10878, 70 at 1087 W%sg{pgton Rwy. & Elec. pfd—I12 at Fed;ral-Amerlcan National Bank—3 at 336. Riggs National Bank—2 at 570, 1 at 566. Riggs National Bank warrants—l1 at 317, 170-265 at 315, 15-265 at 315, 65-265 at 320, 1 at 320, 210-265 at 320, 20-265 at 320. National Savings & Trust Co.—20 at 505, 20 at 505, 10 at 505. Lanston Monotype—5 at 118, 5 at 118, 15 at 118, 25 at 118. Melrlill;ngnu' Trust & Storage pfd.—5 at V2. Mergenthaler Linotype—100 at 100%. 10 at 100'2, 20 at 100%. National Mtge. & Inv. pfd.—40 at 5%. R‘z%lal:;'.lonfl Bank warrants—110-265 a . active, lower afternoon Convertible Issues Are Af-‘ fected by Selling Conditions | United States Government issues were | » THE EVENING STAR, WASHINGTON, D. C., TUESDAY, NOVEMBER 13, 1928.° Received by Private Wire Direct to The Star Office UNITED STATES. (Sales are in $1.000.) i] | N NEW YORK BONDS STOCK Excrmvcal | Sales. High. Low. b 31gs.... 158 ab1st4%s 15 1 Lib 4th 434s 192 1 3%s43. 4 47 1 . 412 X . 266 1 Argentine 5s. .. Argentine 6s Ju 5 Argentine 6s Oct 59 Argentine 5158 '62. Argentine 6s A, | Argentine 6s B..... Australia 4335 56. . Australia 55 195 Australia 5 1957, Austria 7s..... Bank of Chile 6%s. Belgium 6s. Belgium 6% Belgium 7s 1 Belgium 78 1956 Belgium 7145, .. Belgium 8s... Bolivia 8s. Brazil 6 Brazil 7s Brazil 8s Bremen S Canada 5s 1952 Canada 5 Chile 6: Chile 6s'61. Chile 75 1943 Chinese Gov Ry 5s. Colombia 6s Jan's1. Copenhagen 4% 53 Cuba 53 Czecho 8s Danish Munic 8s B. Denmark 6s. ... Dutch East 165 Dutch East I 65 Finland s f 63" Finland 7s. . Framerican 7 French 7s. French 71 German ELP § German Ts. . Ger Am Bank Ts Ger Gen Elec 7s. Greek 7s. Haiti 6s. Hungary 7%s. Irish Free State 55. Italy ¥ae.sos s Italian Pub § 78 Japanese 4s. Japanese 61;s. Lyon 6s. Marseille Mexico 4s ‘10 asnt Milan 6% Montevideo 7 etherlands 6s etherlands 6s . New So Wales Foreign issues were dull and | N, Orient Dev deb 6s. Paris-Ly-Med 6s. Paris-Ly-Med 7s Peru 6s 67 wi. Poland 8s. Prague 73s.... RhineWst EP 6« RhineWst EP 6s'53 Rio de Janeiro 6%s. Rio de Jan 8s 1946 Rio Gr Do Sul 8s Rome 6%s. San Paulo City 8s.., Sao Paulo 831936. . Sao Paulo 1950 Saxon (PW) 7s Seine 75 42.... Serbs Crot Slo 8s. Soissons 6s Sweden 5 Sweden 6s’ Swiss 534519, Swiss Confed 8s. Toho El Pow 7s. Tokio 5s. ... AFTER CALL. Mergenthaler Linotype—100 at 100%, 50 at 1003, 50 at 100%. Sanitary Grocery Co. pfd—5 at 162. Riggs National Bank—5 at 565. Chevy Chase Dairy pfd—5 at 10712, Potomac Electric Cons. 55—$1,000 at 10135, 2,000 at 1013. IAnams!‘lu & Potomac R. R. 55—$5,000 at 95%. Washington Gas 6s A—$200 at 104, $500 at 10415, Bid and Asked Prices. BONDS. PUBLIC UTILITY. & Telga. 4% Telga. 4 Amer. Tel. Wash. Ry. & Elec. s, g Wash. Rwy & Elec. gen. 6s... MISCELLANEOUS. Barber & Ross, Inc.. 6as.. Chamberlain-Vanderbilt 6145, Chestnut Farms Dairy 6'as.. Chevy Chase Club 5%s...... D. C. Paper Mfg. 6s. A Pot. Joint Stock Land Bank 5s. ‘Wash. Mkt. Cold Storage 55 Wash. Cons, Title Co. Wardman Park Hotel 51 STOCKS. PUBLIC UTILITY. Wash. Rwy. Wash. RWY. 5 NATIONAL BANK. National Capital. bia Lincoin National Riges Sedona ™! Pt Naticnal Bank of Washington. TRUST COMPANY. C, Trust Co.. st 5 Merchants’ Bank.. , National Savings & Tru: Uhion Htrust. . <. ‘Washington Loan & Trust ¥ SAVINGS BANK. American Corcoran Firemen’s ".."" National Union MISCELLANEOQUS. Barber & Ross, Inc.. com. BRevy” Chase Dalry' pid Chestnut Farms Dalry com Chestnut Yg! 'y pfd ol. Sand & Gravel pfd Commercial Natl. Co. ofd. Stockholders’ Record. NEW YORK, November 13 (A).— Stockholders of ‘the Pennsylvania Rail- road on November 1 totaled 154,999, & new high record, AR L Tokio 5% s 1961. Utd Kingm 5%s 37. AmAgriChem 7%s. Ah Smit & R 1st 5s. Am Sugar Ref 6s. AmT & Tcltr4s.. AmT&Tcltrs.. AmT&Ts{ b Am Tel & Tel 535 Am Water WKks 5s. Am Writ Paper 6s.. Anaconda 1st 6s. ... Armour&Co4%s39. Armour Del 5%s. Atlantic Refin 55. Barnsdall 651940, Bell Tel Pa 58 B.... Bell Tel Pa 55 C. Bethlehm Stl pm 5s Beth Steel 5348 53., Bethlehem Steel 6s. Bklyn Edison 5s. .. Bklyn Union 53s. . Bush Term Bldg 5s. Certain-Td5%srets Chile Copper 5s. Colon Oil 6338, Col Gas&E| deb 5s. . Con Coal Md 1st 55. Con Gas N Y 5%s. . Consumers Pow 55. Cuba Cane cv 78.... Cuba Cane §s.... Cuban Am Sug 8s Denver Gas 5s DetroitEdisonss: Detroit Edison 6s. . Dodge 65........ Duquesne 4%s 67.. East Cuba Sug T%s Fisk Rubber 8s. ... Gen Asphalt 6s 36.. Gen Mot Ac Cor 6s. Goodrich 6%48...... Goodyear 55 ret: Hoe & C0 6145.... Humble Oil 53 Humble O & R 5%s. Illinois Bell 1st 55. . Illinois Steel 4%s Inland Stl 4% '78. Intl Cement 55 48. Int Mer Marine 6s. Int Paper.5s 47.... Inter Paper 6s. . Int Tel&Teleg 4%s. Kan City P & L 68 Kan G & E 68 52 Kelly-Spring 8s. Laclede 55. ... Laclede G 5%s 52 Lorillard 5s. . Lorillard (P) 78 ManatiSug st 7%s. Mid-Con 6145 40. ... Midvale Steel 58 Mont Pow 53 43. Mont Power deb Mor's&Co 1st 4%48. . Nat Tub 1st 5. NY Edison 6. NYGELH&P 48 N Y Tel 4%s. N Y Tel 6s41. N Y Tel 6s 49 North Am Edis 58 or States Pow 5. Nor States Pow 6s. Pacific Gas & E1 5s. Pac T & T 58 52. Pan-Amer Pete 6s. . Pan-Amer Pete 7. Paramount 6s 1947. Pathe Exchange 75. Philips Petro 5%5. Por Ric Am Tob 8. Postal Tel & C'5%S. Pressd Steel Car 58 Public Service 4% Punta Alegre 7s. ..+ RemingtonAr 68 32, Rem Rnd 5% 8 war- Sinclalr Oil 6s. Sinclair Oi1 6% 8. Sinclair il 7s. Sinclair Crude 5%8. 22 99 15 00 28 012 99 8 9917 99 0. 104 0720 107 1226 112 99 100 101 FOREIGN. 26 100% 100 881 998 Close 99 13 100 27 101 99 8 99 10 104 10 12 27 10 10 11 18 964 102% 97% 100% 106 102% 9T% 100% i 10774 2 100% 4109 3 102% 10 1047 1 100% 12 93% 105% 115 110 105% 100 96 96ty 100 1087 102 104% 100 1047 100% 2 1054 1070 114 95 106% 9812 2 102% 21 96% 32 97 9 96% 1 92% . 20 101% 5 100% 2 100% 11 100% 2 105% 9 94% 6 944 1 97% 12 101% 5 104% 9 104% 15 101 13 104% 39 99y 10 104% 27 106% 19 108 3 99% 4 86% 61 105% Anaconda cvdb 7s. 116 156% Andes Copper 7s...321 169% 9 931 9 921 1 102% 107 150% 1 106% 4 109% 6 101% 11 103 14 105 2 104% 28 324 5103 28 89 23 981y 921 9 101% 4 100% 100% 100% 100% 22% 91% 102 100% 105% 4 | Int Rap Tr 58 stpd. Utd Kingm 514829, 27 118% 118% 104% 104% MISCELLANEOUS. 104 100% 103% 9% 104% 106 104% 101 108 104% 104% 320 103 % 106% 8 109% 56 102% 8 107% 4 100% 227 104% 46 9T% Kayser J & Co 5%5.104 121 2 104% 20 92% 9 105 14 100% 5 103% 1101% 2 8Th 10 105 3 116 6 95 25 103% 2 106 15 100% 13 98% 23 97 256 98 137 154 8 95 3 99% 15 93% 9 99y " 19 101% 16 1034 22 97% 104% 71 73% 104 101 104 107% 103% 100% 9 1% 109 102% 107% 93% 9214 _100% 102 "102% 104% 1043% 9814 93% 102% % |StL&SFpl4sA.. 36 8 w|VaRy &Pos....... 1 5 3 98% 96% 9% 150% 95% 99% 93% 99% 101 103 974 Sin Pipe Lipe 58+00 8. 9% 95 I Braw Sales. High. Low. Close. | Skelly Oil 538 16 95 4 9 Southwest stand Ofl N J 55 46. 2 garEstOrienteis nn Copper 6541 TennElecPow 65 47 Transcontl Oil 6128 36 United Drug 58 53.. U S Rub 1strf U S Rub 7%s US Steel s £ b8 Utah Pow & Lt 58. . Vertientes Sug 7s. . Warner Sug 78 39.. Westn Union 6% Westinghouse bs, Wilson & Co 18t WinRepeatAr 71;s. Yngstn S&T bs wi. RAILR! Atchison adj 4s. Atchison gen 4s. Atlantic C Ll 4. Atlantlc C Li4%s 64 Atl & Dan 15t 4s 43 B & O Gold 4s. 6 937 | B&Ocv4! 7 | B & O ref bs. B & O 55 2000 D, {B & O Ist bs et B & O rf imp 6s. B&OPLEWY B & O.Toledo 4 y&Tth Av 5s. Brooklyn klec 6145, Bklyn Mannat 6s Can Nat 4148 30. Can Nat 4%s 57 Canad North 7s. Canad Pac deb 4s. . Car Clinch & O 5s. . a 6. Cent Pa¢ 1st 5 Chesa Corp &s Ches & O cv 4 Ches & O gn 4 1041 | 103 1041 102% 98ly 98N} 115 | 106% 104 98 884 100% 107% 100% 9T 91 110% 104% 101 107 100% 2 100% 108 101% 100% 201 94 Chi B&Q gen 4s CB&Q4%sT7B.. ChiB & Q1stre bs QIll iy 4s.. Chi&E 111 gn 5s 51.. Chi Gt West 4559, . CM&StPgnso... ChiM&StP4 ¥%sC89. CMSP& Chi & gn 4s. ChiRI&Prfds CRIPac4l%swi. Chi TH& S Eb5s.. Chi T H inc 63 60. . Chi Un Sta 4 Chi & W Ind cn 4s.. C&WI1bsks 95% 100% 95% 100% 884 104% 104 100% 104% @ rranmSenrErlalenanasS 100% 104% 9¢ Clev Term 5: C&S1stds?2 . Colo & Sou 4128.... Cuba RR7%S..... Cuba Nor 5128 cts. . Del & Hud 1st rf 4s. Den & Rio G cn 4s.. D & Rio G imp 58 DRG & Wst5s* Erie conv 4s A.. - ie conv ext 7s... Erie Genessee R 6s. Erié (Pa) clt tr 4s. FlaEast CisT4.... Gr Trunk stdb 6s... GtNor 414876 D... Grt Northn 4%s Great North 58 Great North 518 Great Nor gen 7s. . Hav El Ry 5%s51. Hud & Man aj Hud & Man ref 111 Cent 4s 5! 111 Cent 4% 66 111 Central rf 5s 55. 111 Cent Chi 4%s. .. 111-C-C-StL&NO 5s. Int Rapid Tran 100% 82% 106% Int Rapid Tran 6s.. Int Rap Trans 7s, .. Int & G Nor 1st 6; Int&GtNor adj 6s 52 IntRysCA 58 72... Int Ry C A 6%sret. Towa Cent 1st 5s... Kansas City S 5s... Kan City Term 4s. . Lehigh Valcn ds... LehighVal con 4%s Louis & Nash 5%s. Louls & Nash 7s... Man Ry 1st 45 90 Market St 7s 40. M St P&SSM cn 4s. M StP & SSM 6%s. MK&T4sB.. Mo Kan&T 4%s'78 10 MK & T prinbs A. 10 Mo Pacific gen 4s... 15 Mo Pac 5S A 65..... 8 Mo Pac 58 F 17 74 Mob & Ohio 44877+ 3 NassauEl4s51.... 5 NOTex&M 43856, 14 NOTex& M5sB.. 10 NOT&MG¥%s. ... 11 N Y Cen gen 3%s.. N Y Cent 4s 42 NYCrfim4d%s NYCentrf5s N Y Cent deb 6s. NYC & StL deb 4; NY NH&H db 48 57. NYNH&H4%s.. 10 Y NH&H cv db 6s. 14 40 N Norfolk & W cn 4s. Nor Pac 38 2047.... Northern Pacific 4s. Nor Pac 434 2047.. Northern Pac r 1 6s. Ore Short L rfs 4s. . Pennsyl gen 434s. .. Penna R R4%5 63 Pennsyl gen 58 Pennsyl 58 64. Pennsyl 6%s Pennsyl gold 7s. Peoria & E Inc 4s. Pere Marq 18t 5s. .. PCC&StLGSA.. Port RL & P bs 42. Port RL&P 71 46. Reading gen 4148 A St L IM&S 45 20.... StL IM&S gn 68 31. St L IM&S R&G 4s. 11 924 100% StL&SFral%s18. 95 StL&SFb6%sD.. 9 LS W 1stds. LS W con 4s San A & Arn P 4s. Seaboard AL 4s sta. SeabALrefds.... 1 SeabAL adj 55 1949. 9 Seab A L con 6s.... 15 SBAIFla6s35 A, 12 SB All Fla 63 35 B.. Sou Pac 45 29... Sou Pacific ref 4s. . Sou Pac 4%4srets.. Sou Ry gen 4s. Third Averef 45 60. Third Ave adj bs... 4 Union Pac 18t 4s. .. Union Pac 1st rf 4s. Union Pacific 4s 68. 16 Union Pac 4%s 67.. 2 UnionPaclst ref 6s. 1 Virginia Ry 1st 5s.. 108% 106% 100% ‘Whash 415 78 rets. 9; Wabash 15t 58 Wabash 53%s 75. West Maryland 4 11 Western Md 5%s... 15 100% Western Pacific 5. 10 100% WisCengn4s49... 1 82 TREASURY CERTIFICATES. (Reported by J. & W. Seligm; Co. e—Maturity, ctigga & S0 Dec. 15, 921 9927-32° 99 30-33 99 30-32 100 9921-32 99 23-32 99 26-32 99 28-32 100 4-32 100 6-32 100 17-32 100 10.32 -32° 730-32 98 2-32 30-32 982-32 93% 103% 104% 82 % | Atlas “Port’ Gem POTOMAC OYSTER INCREASE PLANNED Special Dispatch to The Star. BALTIMORE, November 13.—Re- stocking of the Potomac River oyster : beds will be started shortly by State Cons operation with Virginia, according to Commissioner Swepson Earle. Many of the beds which were pro- ductive In years past ate now barren, Mr, Earle said, and extensive planting and cultivation are necessary to restore them. He has just returned after spending several days on the Potomac mapping | out plans for a survey and investiga- tion of the beds to ascertain the state of depletion and the amount of oyster shell and planting which must be un- dertaken to rehabilitate them. While there he conferred with Harry R. Houston, commission of fisheries for Virginia, and discussed measures for joint action by the two States. When the survey of the beds has been com- pleted an agreement Will be reached to divide the cost and work of rehabili- tation on an cquitable basis. With oyster-shell planting and culti- vation, the Potomac River beds can be completely restocked and worked | with great profit_within a few years, according to M. Earle. NEW lfi\IESTMENT TRUST HAS MARYLAND CHARTER Special Dispatch to The Star. BALTIMORE, November 13.—Forma- tion of a new investment trust, the American & General Securities Corpo- ration, whose operations will be super- vised by the American Founders' Corpo- ration, has been announced here. The company, which has been organized under Maryland laws, will be of the general management type and will be designed to_hold investments of -wide international diversification. The authorized capitalization. of the corporation will consist of 500,000 shares of no.par value cumulative preferred stock, of which 200 shares will be out- standing; 500,000 shares of Class A common stock, of which 300,000 shares presently will be issued, and 500,000 | share; of Class B common stock. The entire issue of class B stock has been sold to the American Founders’ Corporation and other interests for $1,- 000,000 cash, and the same interests have subscribed for 100,000 shares of the class A stock for $2,000,000. A public offereing of both preferred and class A shares is expected shortly, EARNINGS REPORTED, NEW YORK, November 13 (#).—Na- tional Electric Power Co. of New York ended the year on September 30 with earnings of $13,074,709 net compared to $11,772,346 in the preceding year. Pacific Gas & Electric Co. of San Francisco was another public service company to report higher earnings. In the first nine months of the year the company earned $2.41 a common share on 2,752,266 shares against $2.13 on 2,400,564 shares in the corresponding 1927 period. Net income of the Central Maine Power Co, of Augusta, Me; in the 12 months ended September 30, was $1,- 545,143, against $1,397,021 in the pre- ceding 12 months. Cumberland County Power & Light Co. of Portland, Me,, in the 12 months ended September 30, reports net income of $854,652 against $804,062 in the pre- ceding year. Net income of the Hudson River Night Line for the year ended October 31 was $204,664 compared with $44,756 in _the previous 12 months. Municipal Service Corporation of New York reports net profit of $885,917 for the first 9 months of the year against $530,136 in the same 1927 period. Gaso- line sales totaled 65,730,083 gallons com- pared to 41,216,163 in the first 9 months of 1927, New England Public Service Co. of Augusta, Me., ended the year on Sep- tember 30 with increased net income, which totaled $9,240,745 compared to $8,431,664 in the preceding year. * Gold Import Announced. NEW YORK, November 13 (#).—An- nouncement today of the importation of $2,000,000 in gold from England by the National Park Bank of New York brings the total on the current move- ment to more than $32,000,000. The shipment is coming on the S. S. Olympic. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Bid, Allis-Chalmers Co. S5s 1937... 99% Aluminum Co. of Amer. 5s 1952. 101! American Tel. & Tel. Co. 4s 1929 99%4 Anaconda_Ccpper 65 1929...... 9911 Balto. & Ohio 4l2s 1933 e Batavian Pet. Corp. 4bas 1942] 9 [ Tel, of Canada bs 1955.... 1 % Cudahy Pa Edison_ El Michigan Cent. Rwy. ds Oregon Short Line "ds 1929 Pure Oll Corp. 5'us 1937 Shell Union Oil Co. 55 1947 . Sinclair Crude Oil Co. 5.5 1938 Southern” Pac. R R. 9 Standard Oil N. Jersey 5s 1948 8t. L., Ir, Mt & So. Ry. 4s 1929 Swift'& Co. 5s 1932.... .. .. .. Union Ol Co. of Calif. 53 1035 10411 Westinghouse El S 1013 Wheeling Steel Corp. 5%as 1948. FOREIGN EXCHA-I‘;GE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks alue (or par).” today. .54.8065 §4.84%% G ags 039012 1389 10¢ 101 London, pound. } B Ber) Rome. Zurich, Al lira . frang. drac ., pengo . crown (nom. DIVIDENDS. Regular. Pay- Hldrs of Compan: able. record. Nov 74 No o) Ala Cash pt Pe- y. Rate. riod. Cr Corp......5¢ isc 28] Atlas Stores..... Badger 8t Cash Ci Corp . Do pf. Cons Cigar Eastern Util {70 SR | Electrographic’ Corp..50c Do pf . . Indian Se{r\' Cor Do 6% bt Kresge (8 8) Co. Do pf....... Sec 1st Pf.. Southw'n Strs pi Tenn _Cop & Chem U 8 Freight... ... W Onio Gas pf ‘A1 West'n_ Auto SupeA .. O0EHG o oa 75 West Dairy Prod Al West Pwr 70 Pf.... Extra. Ala Cash Cr pf........ Baduer 8t Cash"CF Pl s on: Il Cash Cr (N'J) West Auto Sup Do B ©00DDOOLD LOOOP OO POPOD_DoO OO Nov 20 Initial. Reynolds Metals f...51 Q Increased. Dec 1 Noy21 Feb 1 Dec 31 Accumulated. Ga Cash Cr pt..80c Nov 24 Nov 12 Stock. > Cred, AT Corpt. Moo Nov 24 Nov 12 ation Commission in’ co- | FINANCIAL.® SAFEGUARD - YOUR PRINCIPAL m “An Investment of Proven Safety” VEN though profit is sometimes derived from stock market ven- ture, it is true that many of the really successful Washington financiers invest the major portion of their capital and their entire profit in non-speculative Shannon & Luchs’ First Mortgage Notes— an investment of Proven Safety. Shannon & Luchs’ First Mortgage Notes have the two qualities so necessary to safe and paying investment: Safety of Principal and the Highest Interest Rate compatible with such safety—6%. The real desirability of this favored investment is best illustrated by the fact that no investor in Shannon & Luchs’ First Mortgage Notes has ever lost a dollar, in principal or in interest. You wil! do well if you would enjoy absolute freedom from financial worries by selecting these tested investments. Accept the precedent set by experienced and successful investors—purchase these notes knowing that their safety is absolutely assured. First Mortgage Notes Secured by Improved Real Estate in the Nation’s Capital—bearing interest at the rate of 6%. Issued in denominations of $100, $250, $500 and $1,000. SHANNON - & LUCHY First Mortgagde Investments! Télephone Main 2345.. 1435 K Street:Northwest We Own and Offer, Subject to Prior Sale $300,000.00 FIRST MORTGAGE THREE YEAR 6% NOTES Secured by First Deed of Trust on THE SECURITIES BUILDING 729 15th Street N.W, Washington, D. C. Dated November 7, 1928 Due November 7, 1931 Denominations $100.00 to $5,000.00 Interest payable semi-annually at the banking house of the trusiee, The Commercial National Bank of Washington. S PROPERTY: The property securing these notes is known as The Securities Build- ing at 729 15th Street N.W., a new nine-story fireproof office building in the heart of the financial district of Washington and one-half square from the United States Treasury Building. . VALUATION: This issue of $300,000.00 first deed of trust notes is less than 60% of the appraised value of the land and building at this time, and the locality, is one that will no doubt enhance in value in the future. Ample fire and tornado insurance for the protection of the holders of the notes is payable to The Commercial National Bank of Washington, Trustee, and Certificate of Title is issued by the Dis- trict. ’nt(l:eo Insurance Company, the Lawyers' Title Insurance Company and the Washington Title In- surance mpany. THE COMMERCIAL NATIONAL COMPANY, WITH ITS OWN FUNDS, HAS PURCHASED THESE FIRST MORTGAGE NOTES AND RECOMMENDS THEM TO THE PUBLIC AS AN UN- USUAL OPPORTUNITY FOR THE INVESTMENT OF FUNDS IN A SAFE AND PROFITABLE SECURITY. Price 100 amlv Accrued Interest to Yield 67 The Commercial National Company, Incorporated Paid Up Capital, $900,000.00 R. Golden Donaldson, President (Under the same ownership and management as the Commercial National Bank.). 14th & G Streets N.W. vl | WASHINGTON, D. C. Prepare for a Sunny Future s that momentary impulse—that fleeting whim— worth the cost if it is bought at the expense of In addition to the $800,000,000 future safety and contentment ? assets of the Cities Service or- ganization funds invested in this concern have the protec- tion of both geographical and industrial diversification. The organization serves 3,000 com- munities in 33 states, and its profits accrue from three great industries—Electricity, Gas and Petroleum. Oaly by spending less than you make can you ever really hope to get anywhere. The clear, certain way of making your efforts count is to make your dollars count by investing them in en- terprises of seasoned merit and indisputable strength. Cities Service Company is such an organization. Eighteen years of growth are behind it, in which time it has paid dividends totalling over $95,000,000 in cash and securities to holders of its common stock. : HENRY L. DOHERTY & CO. H 501 Southern Building Washington, D. C. 1 o e e o e o e HENRY L. DOHERTY & €0, 51113 501 Southern Bldg., Washington, D. C. Send me booklet “TPO=—112" describ- iag the investment possibilities of i e Securitica.