Evening Star Newspaper, March 15, 1929, Page 13

FINANCIAL.” Money to Loan' Becared by first deed Voorsiinginicres Joseph 1. Weller Sawaen Bids.. 9th & F N.W. Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 Real Estate Loans —secured by first deeds of trust in_ Washington _and \we can refinance your loan. Prompt and ""THOS. E. JARRELL CO. Realtors 721 10th St. N.W. Mortgages JAMES Y. PENNEBAKER Main 5328 1520 K St. N.W. I In Nearby Vir_ginin 5 1/2 % lnls’:r’:l: :eh.Clo. Commonwealth lnveslmenl Co. 017 15th St. N.W. on nearby ma- courteous Main 766 f trust on real catate. commistion. & Trust Investments Phone Main 2623 e Buck & Company BROKFERS Established 1916 Stocks Bonds Grain ‘Cotton Write or call for meexly market letter No'obiigations BUCK AND COMPANY FEvans Bldg. 1420 New York Ave. Franklin 7300 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 e Thoughtful Typography adds character and emphasis to your advertising. The dress of your message is important. Our business is to make that message attractive and easy to read through the skillful use of type faces CCCOO00CTEODVTCTOOOCOTCOCCTCEOEOCCCOOTTOOCOOOd * BYRON S. ADAMS 512 Eleventh St. MAIN HOUSANDS of successful investors have been aided by the valuable suggestions con- tained in our Investment Guide each year. The new illustrated edition just off the press. de- scribes sound 6'2% First Mort- gage Bonds, also other types of securities earning in many in- stances higher returns. Send coupon today for your copy of 56 Years of Investment Service.” Tue EH.Smrta Co. Investment Securities - Founded 1873 Smith Bldg., Washington, D. C. (815 - 15th St,, N.W.—Main 6460) Branchoficesin New Vorkand Other Cities s Occupation 1.5, BOND ISSUES {Improvement Is Noted in Government Group—Price Changes Small. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, March 15.—The tone of the general bond market today was! better, but there was little improvement 4 in the average of prices. Secretary Mel- lon’s optimistic comment may be the means of turning the thoughts of the investor back to bonds, but it may re- quire months of re-educating him in | mortgage cbligations to offset the effect of his spree in “equities.” United States Government issues were steadier. The Treasury 4s opened % above the previous sale and the 4ls were up nearly as much. Libertys, fourth 4!;s, were at 99, after selling this week at 983,. Pressure against { this group appeared to have been lifted. The weekly statement of the Federal Reserve banks showed that they had actually increased their holdings of cer- | tificates of indebtedness, while there was no change in their portfolio of Govern- ment bonds and Treasury motes. An incident today that illustrates the difiiculty in distributing strictly mort- gage bonds was the break of four points in Chesapeake & Ohio new ds, brought out in January in the amount of about $25.000,000 at 95. This price was obviously m 1 to 1': points “above the market” at that time, Now the bonds appear to be that much below the market for other issues of | the same kind. Texas & Pacific 5s, which were 100'4 last week wheu the per cent bonds were offered are now down to 97 and the ania Railroad 4345 are nearly 3 points under their issue price. ‘The old standard legal rails showed little change today. A point decline in Duquesne Light 4'3s followed the recent readjustment in securities of | this coupon to other issues, as well as to the money rate. Junior rails were slightly firmer. ‘The heaviest trading and the largest advances of the day were in the con- vertibles. International Telephone 4!4s had an early rise of nearly 2 points, but lost most of this. Atchison 4!is gained about the same and then re- acted. On one transaction Anaconda Ts rose 4 points, increasing this to 5 | points. Other strong speculative bonds | were Public Service of New Jersey {4125, American International 5!2s and | Dodge 6s. | "It is expected the new Missouri Pa- | cific convertible 5!s will be readily | taken up by stockholders of the road. | There has apparently been some selling of the mortgage issues in anticipation of today's announcement. French, Belgian, Japanese, Polish, | German and Argentine issues all show- | ed some degree of improvement RICHMOND BANK MERGER.! RICHMOND, March 15 (Special).— Merger of Liberty Bank & Trust Co. with Richmond Trust Co. is indicated by the election of two new directors to the former institution. They are H. Carl Boschen, assistant vice president of Liberty National Bank & Trust Co. of New York, and Kent C. Darling, vice president of Richmond Trust Co. Washington Stock Exchange SALES. C. & P. Tel. 55—$3,000 at 99%. Potomac Elec. com. 55—$1,000 at 101, ‘Washington Gas 5s—8$500 at 101, Washington Gas 6s A—$200 at 1023, $300 at 1023, Capital Traction Co—10 at 99, 10 at 99, 10 at 997, 5 at 997, 10 at 997, Potomac Electric 5',% pi fd.—5 at 108"/. Riggs Natlonal Bank—5 at 575, 10 at 57212, 10 at 572, 5 at 572. National Savings & Trust Co.—10 70, 3 Bank of Bethesda—10 at 8213, 20 821:, 10 at 8214. Columbia Sand & Gravel pfd—6 {93l 6at 93. Merchants’ Transfer & Storage com.— 10 at 132, 9 at 131. M:rclli;:r’ns‘ Transfer & Storage pfd.—10 at 113. Mergenthaler Linotype—10 at 1073, 10 at 1071z, 10 at 107%%. AFTER CALL. Capital Traction—10 at 997, 10 at 99’ 20 at 9974, 5 at 9975, 20 at 997, Washington Gas 6s A—$1,000 Il 108, $100 at 103, | Washington Gas 6s B—$1.000 at 10415, ! | Petomac Electric 5'; % pfd.—8 at 10875, | Capital Traction 55—$1,000 at lWh | $1.000 at 10035. ‘Washington Gas 55——31,000 at 101, Bid and Asked Prices. BONDS. ' » PUBLIC UTILITY. Amer. Tel. & Telea. 47 | Amer Tel [ Sh. Baito. & Afnap. ann-mn Gas 38 | Wash. Wash, Wash. Wash: Rwy. & Piec zen & MISCELLANEOUS, rber & Ross. Inc.. 6lis | Cham-vanbit frotel ‘6125 | Chestnut Farms Dairy 6} cnny Chase Ciub 5'ss D. Paper Mg 6s | Pot. oint Srock 1d BK. 5 sh. Mkt. Cold Storaze Ss. | Wash. Cons. Title Co. 6s... STOCKS. RUBLIC UTILITY, sh. Rw E ‘V\.m)) Rwy. & Biec. pra. 2. NATIONAL BANK. | National Capital. | Columbta ... . Federai- Ammmx Liberty . | Lincoln National Mvm»ponnn | Rty Banik of Washington | 3 { TRUST COMPANIES. American Security & Trust Co | Contnental Trust 8l 1 = lwmmnon Loan' & Trust.. SAVINGS BANK. | National® Uiion 2 TITLE INSURANCE. “of Md. com’ S cons Fiie"pld LANEOUS. Gravel prd ial Natl. Co_pid er Mfg pfd Natl ecurities pid. . | Refler) "Siorage pia | Federal-American Co. “com | Fedoral-American pfd. .. Ly o Gony. Bl bid. . Wash. Meeli Mige. com. ! Wash Medical Bldg. Corp Woedward & Lothrop ‘pfd, “Ex dividend. | SHOW STEADY TONE Lib3%s.... Libistdys Lib ath 4%s | Uses1944. US4ksb2. T FOR Argentine 8s Ju 59, Argentine 6s A.... Argentine 6s B. . Australia 44s 56, Australia bs 5. Australia 68 15 lnkofChI)afiVgl Bank of Chile 6% 8. Belgium 7s 1955 Belgium 78 1956 Belgium 7%s Belgium 8 Bolivia 7s. Bolivia 8s...... Brazil 6148 1926, Brazil 6331927, Brazil 7 | Brazil 8s. Bremen Sta Canada 581931 Cunada 5s 1952.... Canada b%s 1929. Chile 65 '60 Chile 65’61 Chile 7s 194, Christiania 6: Colombia 6s Jan'61. Con Pow Japan 7s. Copenhagen 43%s 53 Copenhagen bs ct. . Cuba 5%s. .. Czecho 8s 1951.... Danish Munic §s A. Danish Munic 83 B, Denmark 4 %48, Denmark 3. D Fiat 7s war 46 Fiat 7s x war 46 Finland 6%s Finland 7s. Framerican 7%s. French 7s German E German 7s, Ger Am Bank 7 Ger Gen Elec T: Irish Free State 5. ltaly 7s. 5 Italian Pub § 7 Japanese 48 Japanese 6%4s. Lyon 6s..... Marseille 6s. Mexico 4s 04 Milan 6%s. Montevideo 7s. . Netherlands 65 54.. Netherlands 6s 72.. New So Wales 57s. Norway 53 Norway 6s Norway 6s 1944, | Norway 63%s 195 Orient Dev 515’57, Paris-Ly-Med 6s... Peru 6567 w i, Prague 7%s. Queensland 6s.... Queensiand 7s. RhineWst EP 75’50 RhineWst EP 6552 RhineWst EP 65'53 Rio de Janeiro 6343 Rio de Jan 85 1946, Rio Gr Do Sul $5 Rome 6%s.... Sao Paulo 85 1936 Sao Paulo 1950 Tokio 5% s 1961, Utd Kingm 5% Utd SteamGepen 65 Vienna 6s'52.. Yokohama 68w 1... Abram&Straus 5%a Alleghany cv s wi. AmAgriChem 7348, Am Chain 6s°33. Am NatGas ¢ Anh Smit& R 13t 85, A Sugar Ref Am Tel & Tel 5%s. Am Water Wks bs. Am Wrtg Pap 65'47 Anaconda 1st 88 Anaconda cv db 7s. Armour&Co4%s 39 Armour Del 613 Associated Oil 6s... At1GultSbs...... Bell Tel Pa 5sC. Skiyn Edison bs. ... Certain-Td5%srcts Chile Copper 5s. 312 | Colon OIl 68’38, Col Gas&El deb Con Gas N Y 5%a. Cuba Cane cv 78 Cuba Cane ¥s. Cuban Am Sug 83.. DatroitEdigon9ss0. Detroit Edison 6s. . Dodge 6s..... Duquesne 415 67. East Cuba Sug 1% Fisk Rubber 8s. Gen Cable 5148 Gen Mot Ac Cor 68 | Goodrich 6%s. Goodyear bs rets | Humble Ol 58 Humble O & R 5%s. | Lllinots Bell 1st 6s.. 1Hlinois Steel 4348, Iudiana Steel &5 fniand Sti 4} (ntl Cement 58 48. . * | Intl Match s 47. Int Mer Marine 65. Int Paper 58 47, | Inter Paper 6s Int Tel&Teles 4% |Kan G & E6sb2. .. Kelly-Spring 8s Kreuger&Toll 55 ct Ligget&Myersissl. Liggett & Myers 7s Loew's Inc 6s...... Loew's 63 w o war. | Lorillard 58 Lorillard 614s Loutsy G & k | Midvale Steel -’:1 | Mont Power deb bs Y Edison 635, Tel 6241.... Y Tel 65 49. dis bs.. 514m'63. Nor Ohlo Tr & L 6s ‘wr States ow s, r States Pow 63 I'x(‘mc Gas & E1 6. Pan-Amer Pete 6s Paramount 63 1947 Pathe Exchange 7s. Phila Co 6567 w 1 Phila&ReadC&I bs. »Ponal Tela Coign | Pressd Steel Car 58 Public Service 4% Punta Alegre 7s Rem Rnd 6% s w " .Binclair Oil 68 Sales. Am Int Cor 533849 174 93 12 9828 98 9831 6 10228 1026 1 42 106 11 10530 106 14 9910 EIGN. 11 22 May '61. 22 25 5 102y 110 1094 109 6 100% 10015 100% 18 28 15 4 X R EATEEE . 1 98% 19 87 8 934 2 118% 80 1034 4 105 9514 108 90Y% 100% 108% 994 103 6 1034 5% 105% 1 Bethlehem Steel 6s. 2. High. Low, 9812 22 9822 9910 Low. 100% 101 99% 93 9114 101 915 86lg 981, 1094 Bid 1038 1024 102% 1024 10014 991y 861 934 MISCELLANEOUS. 1124 102% 1045 9544 1014 8915 1003 1031 99y 1025 103 105% 98% 83 104% 244 H0% 90t 10215 694 100% 101% 104% 103 105 911 4 105% 13 13 Int Tel&Tel 4%s cv 948 10 4 52 18 100 4120 1 11564 &6 100t Tlin 1% 100 101% 106 100 9814 99% 119% 2 100% 4 102% 801y 9an, 99 Sinclair Ofl 63 Sinclair 0117 Sinclair Crude 61 Sin Pipe Line 5 Skelly O11 5% South Bell Tel 58 Southwest Bell 58.. 8 Stand Oil N J 68 46. 3 Stand OfIN Y 4%s. ‘Tenn Copper 6s'41. Transcontl Oll 6%s United Drug 6s 63. U S Rub 1strf 68, US Rub 7%s U S Steel s f 5s. Utah Pow & Lt 5s. . ilittes Powr 5% Vertientes Sug 7a.. Walworth 63 '45. .. Walworth 61 s'35. Westn Union 68 61. . White Eagle O 5% s Willys-Ov 6%833.. Wilson & Co 1st 6s. Yngstn S&T bs wi. Close. Close. 99 Atchison ad) 4s.... 4 Atchison gen 4s.... 1 VAtch deb 115548 1 Atlantie C L 1st B&OGold B&Ocvih B & Qref bs. B & 0 55 2000 D...y B&O1stisct B&Orfimp 6 B & O SWhs 60 Bang & Aroos Boston & Maine 58 Brooklyn klec 6% Brookiyn Elev 6148 Bkiyn Mannat Bklyn Un El b8 ‘50, Buft R & Pitt 4%s.. Can Nat 4%s30.... Can Nat4%s8 67..., Canad North 7s. 1 Canad P'ac deb 4s.. Can Pac 4%s 46. Central of Ga 6 { Central Pacific 4. Cent Fac 1st 58 90 9974 100% 104 ant 9319 102% 1104 1087% 109 Cnes & O cv 4748, Ches & O gn 4138, Ches & 0 4% 93 A 218 Chi B&Q gen 45 53, Chi&H 111 gn 65 51.. Chi Gt West 45 59, CM& St P gn 8o ChIM&StP4%sC89, Chi M&StP 4% 8 B. ChiMiISP&Pac58i5, CMSP&Pacad)5s03. 159 100% 9574 95% 91y 92, {Ch1 R1& P rf4s 10015 | C R Pac 4%s w1 1001 | ChiStPM&O 65’30 ChiTH&SEbSs Chi Un Sta 434s. Chi Union Sta 645, &WI5%s62. StL deb 445 CCCa StLrf6sA, Cuba RR6S....... Cuba R R 65 1936 of Ciba R R T3s.. Cuba Nor § %5 ct: Del & Hud 5%s. Den & Rio G en 4 D Rio G West 58 DRG & Wst65'78 {Des M&FtD 4 Det United 4% EastTennVa&Ga b8 Erie Gen 4s. .. Erfecvt 53 67 w1 Erie conv ext 7 Erie & Jersey Gs. .. Fla East C 55 4. Gr Trunk stdb 65, Great North 6%s, Great Nor gen 7s, Hud & Man aj 5s. Hud & Man ref b; 111 Cent 45 53 11 Cent ret 4s.... Lil Cent 4% s 6 111 Central rf 5s 55.. 111-C-C-StL&NO 5s. Int Rapid Tran 6s., Int Rap Tr §s stpd.. Int Kap Trans 7s... Int&GiNor adj 6s 52 InLRysCA 68 72... Int Ry CA 6%sret. Iowa Cent 1st bs... Kansas City S 3s. Kansas City 8 bs Kan City Term 4s.. Lake Shore 45 31.. Lehigh Val cn 4s Louis & Nash 5s Louls & Nash 7s Man Ry 1st 4390... Man Ky 2d 45 2013, Market St 7840.... Mii i) Ry & L 63 61 Minn & StL ref 4s.. M St P&SSM cn 4s. M StP&SSM cn & MStP&SSM5s38gtd M StP & SSM 6%s. MK&T 1st 4s.. MK&Tprinbs A, Mo Pacific gen 4s, Mo Puc 5s A 65 MoFacbsF 77.... Mo Pacific 55 G '78. Nassau El 4s 51. Y Cen gen 3% ¥ Cent 45 98 N .Y Centdeb 4s. NYCrfim4%s... Tow | 95% | 106 8914 100% 103% 9% 103 103 106% | 983 100% 1018 Y Y O&W gen 48 55, Y Rys 65 65, Y State Ry 4%s.. NY W& B4 Nor & gen 63 64. - Norfolk & W cn 4s, Nor Pac 35 2047, Northern Pacitic 4 Nor Pic4%s 2047.. Northern Pac 58 D. Northern Pac r 1 63, Ure Short L rfs 4s Ore Short L bs gtd Ore Wash 15t 4 Pennsyl con 4%, Pennsyl gen 4%4s. . Penna I R 4%5'63. Pennsyl gen bs. Pennsyl 5s 64, Pennsyl 6%s Pennsyl gold 7 ere Marq 18t 58. . | Philippine R 4s. . PCC&SLLOS AL, Port R L & P 6s 42, Port RL P 6s47... Port RL&P 7% 46, Reading J C 48 51.. Rio G W 1st 48 St L IM&S 48 29 Stl IM&S gn 68 31, St L IM&S R&G 48, StL&SFplasA StL&SFra%si8. 7 L&SF prin b8, LS Wconds 32. L Western 2d 4s. S|L & Sown §s '52.. 1160 104 1o kR 99% 120 115% | “l 8 | (I 95 Sou Pac 4% ret Sou Ry gen 4s.. Sou Ry Con bs. Sou Ry 65 56 Sou Ry 6%s. erm Asso St L TexArk F'S 5%s Tex & Pac 58 B 1977 Tol Tr L&P 5%s8 20. Union Pac 18t 4 Unton Pacific 48 68. Union Pae 1st rf 4s. Union Pac 4%8 67.. Virginia Ry 18t 68.. Wabash 1s1 6s. ‘Wabagh Wabash West Marylan Western Ma 5% 10419 100% 94 9% Wilks B & £ 1816 13 | N NEW YORK BONDS STOCK EXCHANGEI Received by Private Wire Direct o The Star Office UNITED STATES. (Saimn are in $1.000.) Sales. Higl Low. Close. 0 5 1004 1014% 102 102 10074 100 RAILROAD. &6 1% 115t 9l 91'3 97te 100% 100% 103 109 100 861 1021 84 101% 110% 118k 1024 108 9%, ESLY 92 91 99 101% 101% 1014 100% 100 101% 102 101% 100% 100 86 0% 1144 91 91% 97 993 100% 103 108 100% 100% 108 108% 100 4y, 90% 100t 98% 93% 95% 9ty 90% 100% B84 1004 ! 25% | 101 107 91 86 99's 99% 93 0w [SETA 102 10354 101% BANKERS’ BILLS DROP $51,243,367 IN FEBRUARY Special Dispatch to'The Star. NEW YORK, March 15.—Despite the obstacles the acceptance market has had to meet during the last few weeks in the shape of reduced buying by the Federal Reserve and the competition of high call rates, resulting in forcing ac- ceptance rates to the highest levels reached in eight years, the volume of bills outstanding suffered only a sea-, sonal decline of $51,243,367 in February. This was shown yesterday by the monthly report of the American Accept~ ance Council, released by Robert H. Bean, executive secretary. ‘The total for all banks and bankers is shown in this survey to be $1,228.- 027,796, whereas the amount outstand- ing on January 31 was $1,279,271,163. On February 28, 1928, it was only §r- 056,389,782, or $171,638,014 below the present volume. “A classification of the uses to which acceptance credits are put,” the report states, “shows that the changes in the volume are likewise of a generally nor- mal character. The exception is in export acceptances, which fell sharply to the extent of $45,000,000, partly occa- slnm;d.by the diminishing cotton ship- ments.” SOUTHERN DAIRIES SELLS % | BALTIMORE ICE CREAM CO. Special Dispatch to The Star. BALTIMORE, March 15.—Southern Dairies, Inc., which operates a plant in Washington, and which purchased the Horn Ice Cream Co. here in 1925, has contracted to sell its Baltimore plant and busines: A new corporation to take over this property. to be known as the Horn Ice Cream Co., being formed. Henry W. Hofferbert, former! president of the old Horn compa be president of the new compan: the ofher incorporators are Eugene Frederick and Francis E. Pegram, jr. ‘The new company has purchased not only the assets of the Baltimore plant of the Southern Dairies, but also its good will and trade names in use in and around this city. The new com- pany will operate un charter and will have capital 100,000 shme of no-par w]ue stock. Baltimore Products Week BALTIMORE, March 15 (Special).— Baltimore Products week, April 22 to 28, was today characterized as a $700,000,000 show, in that it will be a picture in downtown show windows of Baltimore'’s manufactured products, which totaled more than that sum in 1928. J. G. Steele, chairman of the Bal- timore Products week committee ot the Association of Commerce, reports that more than 200 Baltimore manu- facturers have signed the applications to take part. I is now | NEW GAMBLING FAD ON LONDON EXCHANGE | BY EDGAR ANSEL MOWRER. Special Cable Dispatch to The Star. LONDON, March 15.—London, the classical home of betting, where, under | one form of insurance or another, you can gamble on anything from the possi- bility of its raining in Cairo or Kan- kakee on March 135, 1930, to the number of dogs who die yearly through Lon- don’s traffic accidents, has invented a new form of electrical bets called | “Quotations for political majorities.” The system is simple. ‘The stock exchange fixes each day a figure subject to fluctuation represent- ing the number of parliamentary seats it believes each of the three parties will obtain in the coming general election. quoted from 278 to 282, the Liberals were quoted 78 to 82, and Labor 258 to 262. The betting is by units. If you wish to place $5 on the Con- servatives, it means that for every Con- servative member returned over the prescribed figure you win 85, But you lose $5 for every member returned below the set figure. ‘This practice, which fs fairly general | the coming election. | It is notable that during the last | week betting on the Conservative ma- jorities has yesulted in a rise of opinion on Conscrvative members of about 10. BUILDING GAIN SHOWN. NEW YORK, March 15 (P).—Pro- nounced activity in commercial build- |ings featured operations in the heavy | construction industry and the total in- volved again showed a large gain over that for the same week a year Ago. says | Engineering _ News-Record. Contracts {let in the United States for the week were valued at $160.916.000, contrasting | with $50,060,000 in the corresponding 1928 week. struction_contracts total $1.100,760.000 against $619,220,000 in the 1928 period. COPPER PRICES RAISED AGAIN NEW YORK, March 15.—Copper prices advanced further today in con- tinuation of a movement that has car-| ried the metal up nearly 5 cents a| pound in recent months. Export copper was quoted at 20% cents a pound and domestic at 20'z| cents, an advance of 1; cent over yes- terday and 1 cent for the week. Sales of domestic copper at 20!, cents were made late yesterday. The export price was marked up this morning. As both forelgn and domestic buy- ers continued to demand the metal regardless of the price advance, still higher prices were predicted in trade circles. Some observers expressed the Yesterday the Conservatives were | now, is considered an admirable lndcn of the trend of English opinion toward | FINANCIAL. HUGE CASH TURNOVER. NEW YORK, March 15 (#)—The financial machinery of Wlll Street and the country was geared to th speed today to handle a turnover of approx- lml'.e'ly $2,000.000,000 in funds in con- nection with the quarterly financing of the United States Treasury Department, collection of income taxes and disburse- ments of dividends and interest by cor- porations. Estimates of the income tax collections run as high as $600,000,000. — . Stock Split-Up Planned. NEW YORK, March 15 (#)—The executive committee of National Air for-1 stock split-up, it was learned to- day. The plnn calls for the exchange of 20 nmew no-par shares for each of the present $100 par shares. The rec- ommendation is to receive the con- sideration of the directors and stock- holders. Transport, Inc.. has recommended a 20~ SEES BUSINESS GAINS. BALTIMORE, March 15 (Special) — Back at his desk after a five-week holi~ day trip to Honolulu, Daniel Willard, pruldem of the Baltimore & Ohio Railroad, reports a :uneul bul!neu optimism ' for conditions first six_months of 1929. Speaking of business conditions, Mr. Willard said: “At all points I found what might be called a conservative optimism. Crop conditions appeared favorable in California and Arizona. The business men with whom I talked in Chicago seem hopeful for at least the first six months of the year. .- New Stock Exchange Planned. PORTLAND, Oreg., March 15 (Spe- cial).—The organization of a stock and bond exchange here, as well as a grain exchange, is expected to have a de- cidedly encouraging effect on dealing in basic commodities of this reglon. FLERST | : : 6% Over a Third of a Centu Without a Loss Main 2100 THERE .15 belief bidding would add'3 or 4 cents to the present level PROVIDING FOR | The money invested for in- come wants to be surely secure. That'’s the case with our —they have real estate worth on conservative appraisement | far more than the loan made— Since January 1 heavy con- || ¢ | besides you have our assurance of the fixed 6% promptly paid when it's due. You can invest in any desired amount from $250 up. B. F. SAUL CO. NO SUBSTITUTE FOR SAFETY MORTGAGES INCOME FIRST MORTGAGES interest being 925 15th St. N.W. Established Over Half In the Nation’s Capital REAL ESTATE—LOANS—INSURANCL entury Specializing Mortgage Loans—Moncy Carefully (nvested STATEMENT OF THE CONDITION OF THE Home Insurance Company -of New York On_the 31st day of December. 192 quited under the District of Columi amended June 30, 1992, and August 1 $10.508.221.72 ey 82,020,618.00 imarket hands or'-um; Interest due and accried All other assets £.880.437 07 687.039.00 691.975.00 Total nssets. . LIABILITIES. Net unpaid claims,. . Reserve as reauired by law Reinsurance premiums Sularies, rents, expen Capital &t I other Tabiiit Reserve for c Net surplus 1,950.000.00 18,000,000.00 Total liabilities . 58 Character of business trafisacted during the year 1928: Fire and marine insurance. Amount of risk assnmed dur- Ing the vear 193] $15.693.792,867.00 22.863,276.36 52.258,895.21 41 ns 133.09 Vite Bresident fluh:’rrlbr;l; g, tworn to before me this av rehituary, g 2 A. G. KRUG. Nmurv Px-hllt Queens County. Queens Co. No. b3, Restster's No. 3361, . Cer finentn hod 1 York_County. Cler] Now 247, Reeictax's No 9232, Commission expires March 30. 1929, STATEMENT OF THE CONDITION of the California Insurance Co. of San Francisco, Calif. On the 31st dav of December. 1028, as re- auired under the District of Columbia Code, amended June 30, 1902. and August 18, 1911. Capital s ock $1,000,000. Santial atock, pial . in <asn*1000.000.00 STATEMENT OF THE CONDITION of the New York Underwriters Insurance Co. of New York On the 31st day of December, 1928. as re- auired under the District of Columbia Code. amended June 30, 1902, and August 18, 1911. Capital stock . Capital stock, bt Cash in office . Cash in bark Real estate lien) ... $33.801 62 797.917.14 25,000.00 ke . 4.815.790.00 n m hands of 0178 Interest due i Total assets .. LIABILITIES. Net unpaid elzims .. Reserve as required by law. Salaties,” rents. expenses, ta Gominisstos; brokuur. Tetel Capital stock .. Total liabilities Character of business transacted during the year 1928: Fire and marine insurance. Amount of tizk sssumed during the year 1928 T X Losses sustaired durlnx the year £ Money vear 19: 1,252,102.54 Expended during the year 1933 333 nuso T. D. RIGHARDSO! R. L. TANNER, Viee President. Secretary. Subscribed and sworn ta before me this 14th day of Februarv. 1929. (Seal.) CHRIS W. ENGLAND. Notary Public. Kines Co. No. 189; Res. No. 0088, Cortifiente filed in N. 203. Rez. No. 9137, Commission expires March 30, 1630, 89.00 423.549.32 received | STATEMENT OF THE CONDITION OF THE Reliance Insurance Co. of Philadelphia, Pa. On_the 31st day of December. as, Quired under The Bistrict of Golumnia Code: amended June 30, 1902, and August 18, 1911 Capital stock. $1.000.000.00 Capital stock, £71/000.000.00 STATEMENT OF THE CONDITION OF THE Northern Assurance Co., Ltd., United States Branch, of London, England On the 3ist day of December. 1928, Quired under the District of Columbi emended June 30, 1902, and August 1 Capital stock (non: statutory deposit). ASSETS. Cash in office Gash in bank Real estate Stocks and bondy Premiums uncollected and hands of agents. Interest due and accried.. All other assets.. Total assets LIA] Neb unpatd claims requir Forrowed money Salaries, rents, et 279.449.78 28.051.93 00 Commissions. brokerage, eic. Capital, stock = (none in U. * statutory denosit) Al other” Tinbiisies Surplus over all Total liabilities ... .$9,551.084.80 Amount of risk assumed dur, ing the vear $1,366.874,183.00 Lcsul ll|lll|ned durln( lhe a8 ... 2,135,627.87 5.527,684.88 43008 400.000. 434.308. 750, Mani Subseribed and “rom“f’n ‘netore” me this 2Bth day of Pebru eal.) VIOLA €. WHALEY. Public. Kings County. ' Clerk's No. . Resister's No. 9287, Certificate Al in New York Counfy. Clerk's No. 687 tater's No. 9476, Commission expires Notary 308, STATEMENT OF THE CONDITION of the Lloyds Plate Glass Insurance Co. of New York the 31st day of December. 1928. as re- District of Columbia Cody 02, and August 18, 1911. on auired under the amended June 30, Capital stock SADHAl SOk, paid ‘ap. in” Cash 1:000.000.00 Cash in office . Cash in bank . Real estate . Real _estate liew) Stoc BIRS Feteivamme Premi uncoliected ands of agents .. Interest due and accrued All other assets: Losses I al Total assets . Net unpaid claim: Balaries, rent: s o rnm- Iabiiities Serves Surplus Total liabilities . Character, of business the vear Amotntof s ass the vear 1928 Losses uuslnlned the vear 1928 2 Money _received during year 1928 Expended durips ribed and sworn e el February, (Sewl.) 700.0 bonds (market vnhm PR Ma a* Westerr, Land & Grain’ deposit LlABILl'i‘lES Reserve as requl"d by law Special’ re- d dy 1938 (“ 0. \V BH.OOKS President. A N. LINDSAY, Secrelary. joliN MecaLLAN, $8,339.80 546,466.29 906,565.10 Cash in office Cash in bank. Preminms _uncollected s of aments 317.144.05 4725737 3 oonere e Total assets . 300,00 .[¥5.220,803.33 Net unpaid elaim: $240.00.72 Salarie: 2.409.743.5 167.300.00 1,000,000. 38.137.00 02 Capital stock. All othe nnbmu-s Surplus Total linbilities. transacted during | e N : LR e 5 215,100,466.00 . 1,084,113.23 2.710.421.30 2.468.825'35 ite Expende Hag the 'y A. 1. VOSS, Becretary. Subscribed and s to before me this 26th day of Febru, 29. (Seal.) ED) Notary Public. Stocke and borids (market Valis) 130500562 LXAEILK’I‘IESA Reserve as reaulrtd by Taw Te Samateienas um.mfi- fm Character, of business transacted during Amount of ymg sgsumed dur- Monsy Teccived duiini the year W. L_MAILLOT, Vice medenl mn to before me. this ¥ My commission expires Februiry 11 “"bonds,’ uncollected ds of agents admitted Interest due and accrued . Frryeqes Premiums and in hang 331108 184038 . $2,947,608.34 Reserve’ as Salaries. Cnpital_stock Surplus Total liabilities $2.047,608.34 in_policies. $400,224,751.00 the 2140m 1214, 0!3 Ffl 1,027.846. NSRIPFITH, 3 Bublic York Count; 1933. March 30, Total assets . LIA] Net unpaid claims required by unearned premivms .. . expenses, All_other liahiliiies securities’ depreciation . Character of busin the vear 1928: Plate-glass insurance. Amount, of risk sssumed during the year 1928: No amount stater Losces sustained during the vear Exoended’ during_the vear isis PERCY F. BIGLIN. Secreta Subscribed and sworn to before me this 24h gy of January, 192 (market ~o..o. 1.039,340.00 in 151.247.24 21:488.52 32,412,406 85 $53,530.16 205,942.78 37.574.87 e tax Reserve for . 32412466 85 s transacted during . $262.435.86 . 88887711 DS. President. Ty, LOUIS RUSSELL. Notary Public. Kings Co. No. 461, Certificate filed in New Mo 813 Commission, expires R. Bruce Warden Vice Pres. and Treasurer Rutherford, 1520 K Street NW. Charles G. Warden President Charles G Secretary