Evening Star Newspaper, April 1, 1929, Page 15

FINANCIALS First Morigage Loans Lowest Rates of Interest and Commission "Fisher & Company, Inc. Thomas. J. Martgage Money Loaned -.At Low Interest Rates Tyler & Rutherford Etbfebenting Mutual Benefit Life Ins. Co. 1520 K Street Main 475 THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares A TRUSTEED OWNER- BHIP in 100 leading American Corporations. it will be to youf interest to investigate. Standard Collateral Sh: Franklin 3783. W 0000000000000000000000000 Auto, Fire, Burglary, Bonds, Compensation, Liability, Life. Harrell Bros. & Roesch INSURANCE Mai e sa 22222227 We Buy and Sell Liberty Bonds Treasury Notes Etc. - THE EVENING ST. AR, WASHINGTON, D. C. MONDAY, APRIT 1, 1929, CONVERTIBLE BOND LIST TURNS HEAVY Market Is Irregular, With Rallies Scored by Some Issues. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, April 1.—Such small advantage as the bond market gained today from a sharp drop in the rate for call money was overbalanced by the unsettlement in stocks. This was com- municated to convertible bonds. International Telephone 4%s led the downward movement, as they had been the leader in last week's rally. Selling Thursday at 131 and closing then at 130%;, they broke before mnoon today 7% points and were feverish through- out the session. There was not so much trading in them on the reaction as when they were recently strong. This affected the day’s total transactions, for last week these bonds represented nearly 25 per cent of the total bond turnover on the Stock Exchange, Anaconda Copper 7s were Inactive and 10 points lower on the first trades. Atchison convertible 458 as well as Alleghany Corporation 5s and American International 5!2s followed the general speculative trend. Cuba Cane Sugar 8s and Commercial Investment Trusi 5128 each lost 11> points. ‘The United States Government iist reflected in rising prices the easier money conditions, as did a number of corporation mortgages. However, the almost unanimous demand now for a 6 per cent rediscount rate does not en- courage any prospect for improvement in high-grade investment securities. Market Street Railway 7s rose 2 points. There were signs of moderate buying in the junior rails which give a return of better than 5 per cent. Following a long list of new low prices last week in listed and unlisted foreign bonds, the market exhibited a Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street 6% NOTES Secured by First Mortgages Safe—Conservative 42 Years® Experience in finaneing and in the of these se- curities. Make your savings and surplus funds work for you at the highest-intere est rate consistent with absolute satety. Wm. H. Saunders Co, Inc. REALTORS Main 1016 1433 K Mortgages Investments JAMES Y, PENNEBAKER Main 5328 1520 K St. N.W. A Complete Investment: o " 1 Service » IS "GILLET &TCO; BANKERS, " INVESTMENT BUILDING " WASHINGTON, D.C, \Telephone, Main 2460 Guaranteed 6% First Mortgage Notes Secured on Income- Producing Properties in the District of Columbia and Nearby Maryland District National. : Securities Corp. Suite 303-307 Telephone Main 2994 District National Bank Building | little improvement in this group, espe- | cially in the French issues. The effect of high money on munici- | pal bonds was clearly indicated in the :yleld of 4.75 per cent in today's issue | of $28,000,000 State of Arkansas 5 per cent bonds, and in the return of from and the March, 1930, maturities of $60,- 000,000 City of New York short-term notes. There have been some unfortunte incidents recently in connection with troit International Bridge 615s issued in 1927 at par are new selling below 90 and the second mortgage 7s, also subscribed for at par, are down to 70. Columbia River Bridge 7s have de- clined 10 points from the high of this | year. This represents to some extent the pressure upon unseasored issues during a period of severe credit condi- tions and other difficulties that are al- leged to have developed in the Detroit enterprise. POTATO MARKET DULL. CHICAGO, April 1 (United States Department of Agriculture).—Potatoes —Receipts, 152 cars; on track, 337 cars; total United States shipments Saturday. 743 cars; Sunday, 24 cars; old stock trading slow, market dull; Wisconsin acked round whites, 50a65; Minnesota and North Dakota sacked round whites, 1 55a65; sacked Red River Ohios, 85; Idaho sacked Russets, 1.45a1.65; fancy, shade higher: new stock trading fair, market slightly easier; Florida, barrel, Spaulding Rose, No. 1, 7.00a7.25; Texas sacked Bliss Triumphs, 3.75; few early sales, 4.00. . SILVER QUOTATIONS. NEW YORK, April 1 (#) —Bar silver, 5614; Mexican dollars, 4215, Washington S{ock Exchange SALES. Potomac Electric 6% pfd.—2 at 1121, 2 at 1127, Capital Traction Co.-—20 at 983;. Columbia Sand & and Gravel pfd.—20 at 9235, 10 at 92%. National Mtge. & Invest. pfd—100 at 5%, 40 at 5%, AFTER CALL. Washington Rwy. & Elec. pfd.—10 at’ 97%, 10 at 9714, 5 at 971, Calumbia Sand & Gravel—4 at 9215, Mergenthaler Linotype—10 at 107, Cag];l;al Traction Co.—1 at 98!, 10 at 5. ‘Washington Gas 6s B—$100 at 103, Capital Traction 55—8$3,000 at 99%. Potomac Electric 51 % pfd.—5 at 107%, 10 at 1073, 5 at 1073 = 5% : Commercial National Co. pfd.—10 at 103, Peoples Drug Stores pfd.—3 at 120, Bid and.Asked Prices. Amer. Tel. & Tels: Amer, Tel. & Telg: Am. Tel. & Tel. ct Anscostia & Pot. Ana. & Pot. guar. 5s. . & P. Telephone 5s. C. & P Tel. of Va, bs. Capital Traction R. City & Suburban 55 Barber & Ross, Inc., 6% %hnlel‘n';zl'ngerbfltl;l;!z:le? € Chevy Ghase Glub sy . STOCKS. PUBLIO UTILITY. (A):vfiilr‘:'{:-glo’!r‘n. (3 Washington G Potomac Elec. 6! Potomac Elec. § ' 8,5 or 10 Years 2 in | Newby Muylood, | ol X Founded 1907 1417 K St.3; Main 9300 Loan Correspond jent Joha Hancock Mutual Life Insurance Co ; American Securit mnn-nuf':r:‘gé Firemen's National Union ‘TITLE INSURANCE. lymbis Title Estate Title. Co. Pederal Lanston Monotype. . Merchants’ Transfer & Sto Merchants’ Transfer & Stg. Mergenthaler Linotype. o 128 rage. 128 pid; 1i1's 1071 1 5.75 to 5.25 per cent on the June, 1929, | g, Lib1st ¢%s Lib3%s US3%s47. US4s 1944, USdussa. Argentine 5 Argentine Brazil 6%s 1927 Brasil 7s. Brazil 8s. Bremen State 7. Lib 4th 4%s 342 Bales. High. Low. 22 9828 9822 1 9712 9712 42 992 9528 26 962 96 2210216 1029 6 10616 10616 10615 FOREIGN. . High. Low. Close. 89 B9 O 99 9; Sales. No Am Ed 5%s'63. 22 100% 102% 101 104 101 101% Pacific Gas & EI bs Pao T & T 68 62 Pgn-Amer Pet Pan-Amer Pete 7s. . Paramount 6s 1947, Pathe Exchange 78, People s Gas bs.... Phila Co 6567 w 1., Phila&ReadC&| bs. 985 Philips Petro 6%s., Plerce-Arrow 8; Por Ric Am Tob *| Punta Alegre 7 RemingtonAr 6: Sinclair Ol T Sinclair Crud . | 8in Pipe Line 5 | Skelly Ol15%s. 100% 99 93 927% 967 6 1064% 100% Canada 551931..... Cunada 6s 1952, Chile 75 194; Colombla 6s Jan'fl.: Con Pow Japan Cuba 5%s Czecho 85 1951, Czecho 85 1952. | Danish Munic 8 Danish Munie 8 Denmark 43%s. Denmark §s DE15%s Mch DE15%s Nov Dutch East 1 6s Dutch East I 63 El Salvador 8 Fiat 7s war Fiat 7s x wa Finland s the issue of bridge bonds. The De-|H 1944 Norway 6%s 19 | Paris-Ly-Med 6; ! Paris-Ly-Med 7. Paris Orleans 5 Peru 6567 w1 Orient Dev 5% s '57. 8. Copenhagen ¢%s §3 Copenhagen 5e ct.. 8 A. s B. 53.. 53.. 4., 62 103% 101 101 102 102 110 189 T T @ 9 bt e aa MR A R R NONARNCA RN R RN NE RO BN RO ONS R e 53 %s.. =2 Rio de Janeiro 63 Rio de Jan 8s 1946 Rome 6%s Sao Paulo 8s 19, Serbs Cr Slav 7. S.om ‘Serbs Crot Slo 8 Shinyetsu 6%s Soissons 6: Utd Kingm %8 Uruguay 52 1021 1024 108w 97 8615 99% 108% 108% 85% 29. . 6 MISCELLANEOUS. Abram&Straus Alleghany ev 55 w1.107 101% AmAgriChem 'l'%lu Am Chain 6s Am Int Cor 5% Am NatGas 648’43, Ah Smit &R 13t 6%0 12 110% 110 100% 104% 9814 1024 83% 100 9 105 30 99 49 37 104% Am Sugar Ref 6s. Bush Term Bldg bs. Certain-Td5%s Col Gas&E] deb Inter Paper Int Tel&Teleg 4%s. 13 Int Tel&Te! (zfi Kelly-Spring 8 Lackawanna Stl Lacleds South Bell Tel Southwest Bell b Stand 01l N J 68 41 Stand OINY 4%, SugarkstOrientels. TennElecPow 65 47 ‘Transcontl Oil 6%s United Drug 6s 63, U S Rub 1strt bs, Utilities Powr § % Vertientes Sug 7 Westn Union Westn Union 6% Wiison & Co 18 WinRepeatAr7%s Yngstn S&T s wi. RAILROAD. At&Birmds33..., 1 85 Atcnison ad) 4s.... 17 Atchison gen 4s.... 34 Atlantic C L 1st 4s. AtanticC Lel 4 B & O Gold 4: B&Ocv B&Oref b B& O 632000 D, B&O 1stisc B&Orfimp B&OPLEWY 4 B&OSWés 50 Bang & Aroos 4s 51. Boston & Maine bs. Brooklyn Elec 6%s. Brooklyn Elev 648 Bkiyn Mannat Bklyn Un EI §s '50. Bklyn Un El 5s sta. Buft R& Pitt 4% Bush Term con s.. Central Pacific Cent Pac 18 Ch Corp bs wi.. &Ocv 4k Ches & O gn 4%48... Ches& O 434893 A Chi B&Q gen 48 63.. ChiB & Q 1st rf 5. Chi&E Ill gn 68 51, ChiGt West 45 59.. CiriM&StP41sC89. Chi M&StP44s E. ChiM1ISP&Pacbsis. b CMSP&Pacad)5s03, 15 Chi NW 4%8 2037.. 1 CRIPac4%swi.. ChSitPM&O 6 '30. ChiTH&SEGs 18 1 Chi Union Sta 6%s. Chi& Wind cn % . Cuba Nor 648 cts.. 20 D & Hud cv 58 36 DRG & Wst 65 '78. Duluth S § & At Erle 1st cons 4 Erleconv4s A. Erijecvt 6867 wi Great Nor gen Hav El Ry 6s 52. IliCent 4% s Il Cent Chi 448, 111-C-C-StL&NO 68. Int Rapid Tran 6 KanCity Ft S 4s.., Kansas City S 3. Kansas City 8 6s... Kan City Term 48... Lake Shore 45 31... Lehigh Valen ds... Long Is deb 5s 34 Louis&Nash uni 4s. Man Ry 1st 43 90 Market St 78 40, Mil El Ry & L 6: % | Minn & StL ref 11 3101 rets 6 70 9 101% 101% 9 96 9% 9% 106 1048 9% 9¢ . 95 931% v 1465284 o« 8 103% 1034 103% 1110 110 110 1 9% 1% 7 104% 104% 104% 8 108 1024 102% 2 118% 113% 118% 11 99% 98k 98% 14-106 105% 105% % | M St P&SSM cn 4 Minn&StL fd 58 Mo Pac 58 A 65, 4 Mo Yac5sF 77 . 30 Mo Paeific 55 G '78. 22 Mob & Ohio 4%8 177, 2 Nash Chat&StL és. 2 90 NOT&MGb%S8.... 2 100% NYCent4s98....0 lz .oe NYC & StL ds NY C&StL 4%8 New Haven 4s 66 NYNH&H4s., 11 . Northern Pacific 4s. Northern Pac 6s D. Northern Pacr 1 Ore Short Lirfs Ore Wash 1st Pennsyl con 4% Pennsyi gen 44| Penna RR 4%s 35% 102 96% 107 Reading J C4s51., 91 Rio G W 1st 4 Rip G West ¢l RIArk& L 4% St L IM&S 48 29. StL& L (oo BONDS o ] Recelved by Private Wire Direct o The Star Office UNITED STATES. (Saine are (3 83000 ) High. Low. . Close 100% 100% 101% 102% 101 101 104 104 100% 101 101% 101% 105 105 104% 104% W 99 99 0% 104 6% 93 90% 1068% 100y 93 '00% § 107's 99% 85, £3% 914 102% 102% 107% 107% 100% 100% 101 101% 35% 86% 100 102 98% 96% 107 107 8L 91 86 8% 93% 8% 93% 9% 98% 84% 1 | DT cent over a w REDCOUNTS N FFTH DSTRE Monthly Review of Richmond Bank Shows Higher Credit Demand. 1061 | BY the Assoctated Press. RICHMOND, Va., April 1.—The vol- ume of rediscounts for member banks | held by the Federal Reserve Bank of Richmond increased from $36,999,000 on February 15 to $40,706,000 on March 15, it is stated in the monthly review of business and agricultural conditions Jsu:tkiuued by the Richmond Federal nk. The increase in rediscount was due to the seasonal increase in the demand for credit incident to early agricultural operations and the discounting of bills for Spring merchandise, the review sald. Because of a reduction of approx- imately $3,500,000 in bills purchased and the Government security holdings, total earning assets did not rise in pi portion to the increase in rediscounts, but rose only from $55,510,000 at the middle of February to $56,047,000 at the middle of March. Reserve Deposits Reduced. At the same time, the review contin- ued, the member banks reduced their reserve deposits at the Reserve bank from $68,082,000 to $66,911,000. Book credit rather than cash being needed at this season, the circulation of Fed- eral Reserve notes continued the sea- sonal decline begun immediately after Christmas and dropped from §76,704,- 000 on February 15 to $73,761,000 on March 15. ‘These changes and others, the re- view said, lowered the cash reserves of the Federal Reserve Bank of Rich- mond from $98,264,000 on February 15, to $93970,000 on March 15, and re- duced the ratio of cash reserves to note and deposit liabilities combined from 66.63 per cent to 64.41 per cent dur- ing the same period, Material increases in rediscounts for member banks, total earnings assets, and Federal Reserve note circulation is shown by figures reported March 15 this year as compared with figures for the same date last year. Lower figures are shown this year, however, for member bank deposits, cash reserve and reserve ratio. Rediscounts for member banks rose from $26,931,000 on March 15, 1928, to $40,706,000 on March 15, 1929. Total earnings assets of the Federal Reserve Bank of Richmond rose from $47,837,000 last year to $56,047,000 this ear. 4 Federal Reserve mnotes in actual eir- culation, which aggregated $62,407,000 at the middle of March last year, to- taled $73,761,000 on March 15 this year. On the other hand member bank re- serve deposits totaled $71464,000 on March 15 last year and $66,911,000 on the corresponding date this year, while the cash reserves of the Richmond Bank’ declined between the same dates from $96,513,000 to $93,970,000. The changes in cash reserves, notes circu- lation and deposits lowered the ratio of reserves to note and deposit liabil- ities combined from 7141 per cent on March 15, 1928, to 66.41 per cent on March 15, 1929. Business Fallures Fewer. Business failures in the fifth Reserve district during February, 1929, were fewer in number and lower in liabilities involved than in February, 1928, while both labor congitions and coal produc- tion were reported to be better in Febru- ary this year than last, says the review. Business in February, which is a rela- tively slack month in trade circles, this year followed seasonal trends without any marked deviation either way, the review states. Credit cemands at mem- ber banks and in turn at the Reserve Bank increased moderately, chiefly to meet the needs of farmers and mer- chants for early agricultural operations and the discounting of bills for Spring merchandise. Commodity Notes Dairy Products. CHICAGO, April 1.—Reports indi- cate that production of butter is gradu- ally increasing and this has had a weakening influence on prices. Indi- % cations are that the make is about 9 per cent over a year ago, and about 5 k ago, - Retail Trade. ATLANTA.—The approach of the season of Metropolitan grand opera here has stimulated retail sales ma- terially in the fashionable shops. Hotel reservations already are at a record height. Steel. PITTSBURGH.—There has been lit- tle change in the output situation in the iron and steel industry since March 15, The open hearth departments are at, capacity and being pushed and the Bessemer departments are turning out about two-f of what they could produce under pressure, Total produc- tion, therefore, is about 95 per cent of capacity. Rayon. CLEVELAND.—The 200 employes in the twisting department of the Indus- trial Rayon Corporation are on strike against a reduction in plecework sched- ules from 8% to 6 cents & pound. The plant has been running all departments 24 hours a day and Sundays for some years. 6 PER CENT REDISCOUNT RATE URGED BY BANK |3 By the Assoclated Press. 1 NEW YORK, April 1.—An argument for a 6 per cent Federal Reserve re- discount rate, an advance of 1 per cent, is made in the April review of economic conditions of the National City Bank, of which Charles E. Mitchell is president. ‘The review also asserts that the Na- tional City Bank indorses the desire of recent course of the call money market, says that “the crisls has passed and the incident is a closed book.” Senator Carter Glass of Virginia and others in Washington recently de- 8% B4k 84% 106% 106% 106% 111% 111% 1k 119 118% 218% 106% 108 7064 2 08 98 101% 101% 101% 5 60% 60. 604 5 65 87% 92% 86 95 95 952 101% 1015 101% | i 98% 981 98% 85 85 DARR NAMES MEMBERS OF“C. OF C. COMMITTEE President Charles W. Darr has an- nounced the personnel of the 1929 com- mittee on retail trade of the Washing- ton Chamber’ of Commerce, Mr. Isaac Gans, past president of the chamber, is chairman of this committee and its vice chairman is Mr. Ralph A. Davis. The chamber’s committee on retail trade is one of the older and more active cham- ber committes, having originated and premoted the “Buy-in-Washington™ campaign which has helped materially to increase home buying. The commit- tee has always stocd for progessive methods in merchandising, including emphasis upon service to the buyer and "hi[ l1:15111(4.‘nancc of high standards of quality. The personnel of this committee is as follows: Messrs. Isaac Gans, Ralph A. Davis, P. Andrews, M. M. Atherton, W. M. Balderston, C. Alfred Bolgiano, J. L. Bowles, Charles A. Camalier, Alvah C. Case, Henry G. F. Castens, Charles L. Casterlin, Elmer H. Catlin, jr; M. O. Chance, George 8. De Neale, George D. Derse, Ben D. Dreyfuss, Charles B. Dulcan, William John Eynon, William F. Friel, Charles Goldsmith, Cecil R. Grabill, H. Grace- man, Gerald D. Grosner, Tony Guiffre, Mitchell Hanson, Charles W. Healy, Sidney L. Hechinger, Paul Himmelfarb, Charles E. Howe, Harry C. James, H. Jeffrey, Isador Kahn, Miss Anna V. Lally, Julius Lansburgh, William M. Leath, R. B. H. Lyon, J. W. Mergan, R. W. Mosher, Thomas T. Mott, A. R. Mullowny, Maurice Narcinsenfeld, H. Nelson, H{ D. Ormsby, Meredith H. Polen, 8. Powdermaker, George M. Nor- ris, Willilam Rosendorf, L. E.. Rubel, David Sanger, A. Leftwich Sinclair, jr.; W. M. Smith, Gen. Anton Stephan Arthur J. Sundlun, S. N. Talkes, T. T. Taylor, J. Clinton Tribby, Alfred Wal ford, John Z. Walker, Joseph A. Wil- ner, Fred S. Walker, Louis N. Yockel- son, Schley Zirkin and Joseph Witt. GENERAL MOTORS SHOWS $285,458,594 SURPLUS! Speclal Dispatch to The Star. NEW YORK, April 1.—The twentieth | annual report of General Motors Corpo- ration covering 1928, when the company manufactured 40 per cent of the cars produced in the United States and Can- | ada in the year, but whose motor car operations contributed only about one- half of its total profits, is made public today by Alfred P. Sloan, jr., president. Net earnings for the year, as already made known in a preliminary statement, amounted to $276,468108, after all charges and after adding $4,123.838, which is the corporation’s proportion of the earnings and losses of subsidiary and affiliated companies not consol- idated, but accruing to the parent com- pany in excess of dividends received. This showing compared with net of $235,104,826 in 1927, which figure was bettered by 17.8 per cent last year. ‘After paying regular dividends on the preferred and debenture stock requiring $9,404,756 for the year, there remained $267,063,352 applicable to the common shares, equivalent to $15.35 a share on the 17,400.000 shares of $25 par out- standing at the end of the year, or $6.14 a share on the 43,500,000 new $10 par shares now outstanding. In 1927 the net was equivalent to $12.99 on the old common shares, or $5.20' a share on the new stock. Surplus was from $187,819,- 083 to $285,458,594. B Baltimore Grain Exports. BALTIMORE, April 1 (Special).— Grain exports last week reported by the Maritime Exchange were 984,769 bushels, represented by 568,141 bushels of wheat, | 398,656 of barley and 17,792 of corn. Of the exports, the British steamer Antigone carried 274,452 bushels of | wheat for delivery at Italian ports. TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) Rate—Maturity. 4138 June 15, 1929, 438 Bept. 15, 1 B i e 15 34%s Sept. 15, 328 Dec. 15. 1 96 26-32 96 3 9622-32 96 26-32 GERMAN BONDS AND STOCKS. NEW YORK, April 1 (Special).— Bid. Asked. 55.00 60.00 .. 36.00 40.00 iliion ‘marks.) 20.00 38, ks. i Ger Govt Red cifs att per 100 R M........ er Govt Red Loan without draw ctfs per 1.000 R M (Quoted in_dolia Hamburg 413s 1919, (Quotedt 1n dollar. Ger Gen Elect 4125 pre-war... Ger Gen Elect 4125 Berlin 4s pre-war. Hamburg 3s. 3'2s & Hamburg ‘American Line 413s. North German i Krupp 5s 1921 Dusseldorf ds Frankfort a-M 4s pre-wai Munich ds pre-war. .. (Quoted in dolis! A E G (Ger Ge Elec). A E G (Ger Ge Elec) pfd B Commers and Privat Bank. Loan with draw 100 H = 2! 58, 3] H 838 22.01 2.3 TR 838383388333333 £3333333! 2252, n A E G (G Rudolph_Karlstadt Bof.nasagagsms Bontati! Reserve District No. REPORT OF_CONDITION OF THE Northeast Savings Bank 'Of Washington, D. C.. at the close of busi- ness on March 27, 1929. RESOURCES. ¥ d discounts § o e : % Curities ovned 28991 o B T e O et ; s, i i n"\w: and fixtures, $£20,000 120.000.00 136.086.84 1,010.50 $700,908.19 . Cash and due from banks | Other assets Total . 1,691,152.64 . Capital 6 Surplus . . Undivided . Due to banks, including’ cer- tified and cashiers’ checks outstanding . 22. Demand deposii . Time deposits . Total . eenes$1,691,152.6¢ his , D. Wi s ter_of the above- named BAK, 4o solemuly swent ihat, the shove siatement 14-trie fo e best of my owledz ef. . W. . LEWIS, Cashier, t—Attest: 5 e HALL, GEQ. P. HOOVER. ‘WATSON V. SHELTON. Directors. Subseribed and sworn to before me this R N 5 Notary Public. REPORT OF THE CONDITION of t'ho Anacostia Bank ) . of Anacostia District s, at the close of e ntas on Stareh Hre 1040, 1.185.73 396,950.47 1,102,524.55 1 1,184.224.07 2. Overdrafts 535.76 3. United States Government se= curities owned. 4. Other bonds, stocl curities owned.. house, ~§95,177.58; ure and 1,000.00 76,620.27 4 .973.98. ... 104,151.56 7. Real estate owni banking house. 9. Cash and due from banks. 10. Outside checks and . eash_ items. ashier of the abo K, solemnly swear that the ststement ts true 1o the best of my e n‘d:h nt{m‘?é’fl?’m":'.‘ s HTMAN, Notary Public. b0 ‘w'vflcdu and BUS SERVICE QuIZ IS EXPECTED SOON Special Dispatch to The Sta BALTIMORE, April 1.—The Balti- more & Ohio Railroad is expected to Join with the Pennsylvania Raflroad in a hearing before the Public Service Commission soon on bus service con- necting Maryland towns with Balti- more and Washinglon, The Pennsylvania’s subsidiary hand- ling bus service has twice asked post- ponement of its application for the right which previousiy has been deried the Washington Motor Coach Co. and other bus lines. The denial, it was thought, was to protect the railroads from the compe- tition, but that idea has been elim- mt:’ledp now X'lllth1 the mumore & Ohio and Pennsylvania uni in a re for the right. * o Opening the question, however, is expected to bring application from all the interstate bus lines, and on that account the hearing is of major im- portance. ‘The postponement has been for the purpose of getting details worked out 50 one hearing will dispose of all gues- tions involved. -The interstate busses have already been declared by the courts beyond control of State regulatory bodies, but FINANCIAE." et those bodies have been sustained in the right to regulate intrastate service. Charles W. Galloway, Vice president of the Baltimore & Ohlo, was in Phila- delphia last week working out a plan of co-operation with the Pennsylvania in embarking into the bus business, et e, STEEL MILLS ACTIVE. NEW YORK, April 1 (#).— Youngstown area " steel mdf’env};?; the second ‘quarter today with opera- tlons at 90 per cent of capacity. In some flat rolled steel departments the rate is higher. In the Youngstown and Chicago districts 48 of 51 open-hearth furnaces are melting and 117 of 125 sheet mills under power, Strip mills operations continue at capacity. = Tin plate output is re of capacity. ported at 85 per cent RICHARD C. MARSHALL Announces His Appointment as Regional Supervisor Ocean Accident & Guarantee Corp., Ltd. AND Columbia Casualty Company 826 Transportation Building Tel. Main 7290-8441 National Metropolitan Bank Oldest National Bank jin District of Columbia 15th St., Opposite U. S. Treasury Open Until :30 P.M. Today —s0 Departmental workers pat- ronizing OUR SAVINGS DEPT. can make their usual PAY DAY deposits with all possible convenience. One Dollar or more will open a vings account 3% Paid on Savings APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent suburbs in Montgomery and Prince Georges' Counties, Md. 5Ys% Apply to H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY OF AMERICA 1001 15th St. N.W. Main 8100 .Th'e Metropolitan Life Insurance Company Real Estate Loan Plan Unusual in Its Terms—Length—Low Cost = 6% INTEREST No Commission Charges WEAVE,R BRO REALTORS. 809 15th Street NW. Main 9486 llr:?uc Loan Correspondent Metrojolitan Life Insurance Company - LONG TERM INVESTMENT ~—which means that you will not be concerned with rein- vestment during the stipulated time of our 6% FIRST MORTGAGES You will be making an in- vestment you can be confi- dent will continue to yield its promised 6% —with. return of the full principal at maturity, In amounts from $250 up— gnd can be purchased on our éonvcnie_nt Part-Payment Plan, B. F. SAUL CO. Main 2100 925 15th St. N.W. Over a Third of a Century Without. a Loss