Evening Star Newspaper, June 12, 1929, Page 12

12 8 UTILITIES FEATURE Remainder of List Drifts Without Much Change in Quotations. BY HARRY H. BECKER. Bpecial Dispatch to The Star. NEW YORK, June 12—Utility shares assumed aggressive leadership on the Curb Exchange today and gave the market much of its increased activity over recent sessions. Issues of upstate power properties scored astonishing gains on reports that active discussion was taking place regarding the forma- tiop of a new holding company to ac- quire substantial blocks of their securi- ties. Despite the lack of details in this connection speculative enthusiasm in a number of cases reached such heights that gains of 10 to 20 points resulted in a group which were believed to be in a favorite position to benefit from the new arrangement. Buffalo, Niagara and Eastern common and “A” stock, Mohawk and Hudson Power, Northeastern Power, Southeast- ern Power advanced in excited fashion to new peaks and closed not far below the best. Niagara shares also had a spectacular rise and most of the other utilities were carried in sympathy. Renewed selling of Commonwealth and Southern, which carried it into rec- ord low ground under 23 before midday, did not exert much influence on the re- mainder of the group. The stock has been declining steadily from the high of 30, at which it sold shortly after the company was organized. A spurt in Electric Bond & Share was thought to be in anticipation of the publication of the annual report within the next day or so. Outside of the utilities and a few specialties there was not much to the trading. Roan Antelope tinued to attract attention in the mining group, reaching a top in response to optimistic development news from its South |African properties. There was a sharp spurt in Lerner Stores and an advance of several points in Ainsworth Manu- facturing on the consummation of merg- er negotiations with another company and expectation of an offering of rights on a favorable basis. Fears of competition in the local taxi field, with the entrance of a new company to operate on a lower fare schedule, caused a further break in Checker Cab. The oil group was ir- regularly lower, but inactive, and the aviation stocks erratic. Niles-Bement- | Bond regained the entire loss of the preceding session and Fokker also rallied early in the day, but Aviation Corpora- tion was in supply and Aviation Se- gmtlu, recently listed, made a new w. Business Notes By the Associated Press. NEW YORK, June 12.—Election of two officials of the First National Bank to the directorate of the Tidewater As- soclated Oil Co. has strengthened re- ports in Wall Street that interests iden- tified with the bank have acquired a substantial interest in the company. ‘The Rubber Exchange of New York has reduced the commission charged members and non-members residing abroad. Beginning next month the commission per contract of 5,600 pounds for foreign members will be $10 and foreign non-memebrs $17.50. An extra long season for Spring mer- chandise is reported by the Hardware Age. Business in this industry through- out the country is reported satisfactory. number of buyers in the New York market has shown a substantial increase in the last year, although the total is slightly less than that reported at_this time last year. Eastern and Middle Western Stores are placing large orders for sun-tan bathing suits, with the result that quick deliveries on the more popular lines are difficult to obtain. Manufacturers foresee a return to favor of the yellow and green gold watch. Reports of jewelers on Spring sales are said to indicate that the trend away from the white gold type will reach its peak next Spring. Gas. NEW ORLEANS, June 12.—The nat- ural gas well brought in recently at Coon Bayou road near Houma (about 75 miles west of here), promises to develop into a large producer. It is reported to be now producing about 90,000,000 cubic feet a day. If this continues it may be the center of another large field for this State. Hides. CHICAGO.—Packers hides continue to reflect their strong position with 16 cents paid for heavy steers and light native cows, while some packers are inclined to hold off for 16, cents. Country hides are firmer likewise. Fruit. SAN FRANCISCO.—The apricot crop looks as though it will be heavier than was expected earlier in the season. leading agricultural publication esti- mates it will amount to 180,000 tons, compared with 171,000 tons last year, which was 60 per cent of normai production. Apples. PORTLAND, Ore,—Confirmation has been received of sales on contract for the 1929 apple crop in the Columbia River district at $2 for extra fancy Newton 2165 and larger. Twenty-five cars have been sold. Other sales, un- confirmed, indicate prices of $1.75 for extra fancy Newtons. | CLINIC DOCTOR DIES. Cleveland Hospital Blast Victim| Succumbs to Gas. CLEVELAND, Ohio, June 12(#).— Another belated fatality of the Cleve- land Clinic disaster occurred Monday when Dr. John Swafford died in the clinic hospital from effects of poison gas inhaled during the disaster May 15, Dr. Swafford was a staff physician of the clinic and was employed in the X- ray department at the time of the trag- edy, which to date has cost more than 120 lives. NOLAN IS NOMINA_TED. Minnesota G. O. P. Supports Lieu- tenant Governor for House Seat. MINNEAPOLIS, Minn., June 12 (#).— Lieut. Gov. W. 1. Nolan of Minneapolis was declared winner of the Republican nomination for Representative in Con- gress by a majority of 182 votes late yesterday by the fifth Minnesota dis- trict canvassing board, which tabulated Monday's vote. As a result Nolan will oppose Ernest Lundeen, Farmer-Labor candidate, and Einar Holdale, Democrat, both of Min- neapolis, in the final special election next Monday to name a successor to Representative Walter Newton, Repub- lican, who to become a secre- tary to President Hoover. Hoidale were without primary. The district ily Republican. b ition in the usually heav- PSR PR L Although diamonds have been known and prized since antiquity, polishing of stones was not done until 1456. Credit for the discovery of the art of cutting ilndpolbhln(h ven to Louis de Ber- guem of Burges, Belgtum, r Cities P& 41 Amer Cities P&L B... 43’ 8 Amer Commonw' Ped. 23 4 6 1A; 112 Amer Amer Light & Trac 251 it NEW YORK CURB MARKET Sales in un TRADING ON CURB e ¥ BEN: - F mer. Commonw P 3 mer Gas ‘Elec pid. Laund Mach. Meter 0% i B 167 167 a8 92 92 93 973 86% 97% Doee 86 98 o 25% 28% 28% 297 29 2 410 D 4! g D 633 6% 62 a Ahwe vic T i T n Marconi W % 1Cent Sta 11 Gen St E 1Ds 2 Dayton Al eero & 2 Fe 2654 2 10% 11 ;e S B av Drug aliot ctis 20 20 irpiane Co. ‘ageol Mot Co . .l. 3 Fairchild Aviation ‘A 22! 9 Fairchild Aviation rts 3 Fs 2 Fansteel 7 Fed 29 Fi 8 Fi andango Corp A ... od . eral Water A iat stk deb rts at rets Il 28 3 Financial Invest 1 Fis 1 Pund I ireman 25 Firestone Tire . 1 General Baking Ge neral Baking pfd 70% 69% T Elec Ltd reg... 12% 12% 1 Pireproofing 1 37 = 36 Indust Alch vic 34 Laund Ma..... 22% er.... 5% Corp Ut Co prd 92 5 Gen §Globe Underyrit Ex 25 al. ... 10 J (] Kai Ke: Alden_ Cor varnish..). 20% T C pf n 'vic 38615 31 & Die.. 15% 1513 ntl Prod . ntl Project n ntl Shoe .. ntern Util B rmoch 10 Keystone Alrcrai Kieinert Rubber . 3 Nathan Stra: 25 Nat Aviatiol 1 4 B o e 9 BB e B o S i Bwe Do B i Nat Bancserv at Container ‘wi. 8t 38% 38 ll’;/: ‘la'ri 1 56 52% Sec 0% u:; T0%, 88Y, 119% 112 a o2 Amer ' Avial North Am Util North Esstern Pow. e 00 31 2593 25 SEE =T . Low. Close. Buaw, 22, ge8s u i i 215 3 THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY JUNE 12, 1929. 2 7 59 Eetheck &ircie 3 Petrol Cor BEE o 2ZEaE3. 80! St 2R85! & F P FEF R F ¥z tein & Co 9 terchi Bros Stores. 2i 2 Sterl Secur pfd allot 3 10 y 2 Trang Am000 iTrans Lux D L P8 A § T, (2 44 75, 7 Py 5555 o Qe R s Za =l 8 Foil B. 8_& For Sec st pid S _Preight of Del gdcdag - i caadd 5 Walgrees 2 Walgreen war. n J W.. 8 Zenith Radio .. INING ales in hundreds. 14 Ariz Globe C. 3 Bunker Hill 1Carnegie Me 2 Chief Cons Min. Coin 35 Golden Center M. 3 Goldfid_Cons 1 Hollinger” Gold; in hundreds. 37Am Con Ofifids. 2Am Maracaibo GO y O & ée! 0% Marland Me: Mount Prod Ge Nat Fuel Gas! 4% 2 Woodley Pet .. . STANDARD OIL 18§ SUBSIDIARIES —STOCKS. 500 A 100 Buckeye P 2300 Cont'l’ Oll 50 Et 2008 O Ohlo . 300 Vacuum ON " % gales in BONDS. ousands. ‘S abilint pap s A '83 fied Pk 9,000 16 Allied Pk 85 '39, COD 52 24 Alum Co Am 85 '52 Tid 85 4 200990 PRRR! ] & 38 13% oS awnnn e B m e EEmtanaSe gzze 5 ) AR S oo 358822 S - 813 | 2 51, Bl Yy AND FORMER 14% i 6931 Direst %o The Star Office Lehigh Pow 6s A 2026. 10: Lone Star Gas 5 i tar Gas 55 % ar Gas 55 10 Pac. Wn_Of 1 Park & Tilford §Een O E 65 A W & Sheri Wy Coal 6s '47 9 Sloss Shef 6s '29..... 99 Soutke P&L 65 A Sou Cal Ed 55 ‘44 4 Stan: L @s °57 69 Sun Maid Ra, 6128 43 3 Sun Oil 5145 '39, .. vift & Co_ 58 '33. 95% 73 100% 100 12 West Pow 5'as A '57 132% 3 West P 5148 A '57 87d 131% FOREIGN BONDS. nds. Agri Mor_Ba T 11 Berlin C E 6 3 Buenos Aires T 2 Buenos Alres 7148 47 1 Cauca Valley 7s '48.. 8 G Ses A 2 Hamburg E 5%: 3 Hung It 7%s AC '63 8i 7Indt M Bk Fin 7s '44 El Ts '52 8¢ 3Santa Fe City Ts 1Sauda Falls 85 A s Sta s 10 Stinnes Hu 7s ;38 13 Stinnes Hu 7s '46 wa 85 1Uni E 8 75 A ww 56 897 71Uni StI W 645 A '47 90 xd—Ex-dividend. When issued. ow ~With warrants. 8415 591 (4 “" KIP RHINELANDER | NOW SEEKS DIVORCE i in Nevada to File Com- plaint Bill. . LAS VEGAS, Nev., June 12.—Harley 24| Harmon, attorney for Leonard Kip 43 | Rhinelander, disinherited son of a well 3o Scion of Prominent Family Livesf | known New York family, disclosed early | today that he has prepared a divorce $3 | complaint which young Rhinelander 13 plans to file against Alice Jones Rhine- 9% lander, daughter of a New Rochelle, N. Y., Negro, within the next two weeks. Harmon, who is district attorney here, said Rhinelander had lived in Las | Vegas and at a nearby mountain resort since January 1 under an assumed name. He had successfully hidden his identity by & mustache and a gain of 21 pounds in weight since coming to Nevada. Rhinelander reluctantly admitted his true name when confronted with News Service pictures of himself. He ex- plained that he had sought to avoid | publicity while establishing the six- i1 divorce action in this State. Uses Assumed Name. 2 | Under the name of Lou Russell, Harmon admitted, his client had re- sided at the Nevada hotel and in a cabin at the Charleston Mountain resort, 25 miles north of Las Vegas. He also had operated in real estate, through which the attorney and others who knew Rhinelander as Russell said the young man had made a considerable Income. Cruelty, based upon the “humiliation my wife has caused me by her actions,” Harmon stated, would be the basis of the divorce complaint which will be filed in the Las Vegas District Court. Couple Has Lived Apart. The disclosure of Rhinelander's mar- riage several years ago to the daughter of the New Rochelle hack driver was followed by their enforced separation by his socially prominent family. A sub- sequent, suit for the annulment of the marriage was denied and the young couple permanently separated. The former New York soclety youth, under the name of Russell has been building a home here in which he said he intended to live. His attorney quoted Rhinelander as declaring he did not care if he heard no more from his fam- ily, explaining reluctantly that he had been_disinherited by a letter from his family's attorneys about a year ago. LOWDEN HOLDS RESEARCH | WILL SAVE AGRICULTURE | %..| Declares History Shows Countries %! Have Gone to Ruin When Soil ! Has Been Impoverished. By the Associated Press. EUGENE, Oreg. i 0. Lowden, former Governor of Illinois, here as the commencement speaker at the University of Oregon, said yesterday that research was the greatest weapon of the age with which to attack what he termed “a grave agricultural prob- lem.” “The history of civilization,” Lowden said, “has shown that cities and coun- tries have gone to ruin and decayed 4 | when the soil of the country has be- 34 | come impoverished. This and the fact that cities are drawing more and more of the most efficient people from the farm represents the country, as well as all others, must face. “Impoverishment of soil comes when farmers, to meet forced overhead, must grow the same crops which year after year net the most” he continued, | “rather than rotating, as they should. 1to enrich and preserve the soil.” “The need for research, not only in material_sciences, but in economic and social phases as well, is paramount,” Lowden asserted. “Research should ex- tend particularly to distribution of prod- ucts.” —s 10 Berlin Rioters Sent to Prison. BERLIN, June 12 (#).—Ten alleged leaders in the Communist May day dis- turbances in the Wedding trict of Berlin yesterday were sentenced vari- ously to from 3 to 12 months of impris- onment for breaking the sessing arms and resisting 4| Three were acquitted. More sutomobiles are being sold in Japan than in any previous year, | month residence necessary to file a| June 12—Frank | roblems that this | —L A APPEARS CERTAIN | Chase National and National Park Planning Pool of Resources. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, June 12—If the Chase Park Bank of New York its resources will be on a parity with those of the Guaranty Trust Co., which recently ab- sorbed the National Bank of Commerce. When the deal is completed, and there is every reason to belleve it will be, the Chase will have resources of $1,600,000,000, with capital funds of about $200,000,000 deposits of $1,200,000,000. But the Guaranty announced last week its plan for increasing the capital funds to $260,000,000. When this is completed the Guaranty wiil rank as the largest in the country, from the standpoint of capital. So this new proposed merger will place the Chase just a step behind the National City, stiil rated as the Nation's largest financial institution, for its re- sources exceed $2,000,000,000. The Chase-Park Bank merger will make the tenth major bank consolida- tion in New York this year—the preced- ing one announced, to be formally com- pleted July 1, is the merger of the Equitable Trust Co.-Seaboard National Bank. Its present resources are $860,000,000. The Chase National has been linked in merger rumors with other banks in recent weeks. The Irving Trust Co. is one. The Bank of America §s another. Should either of these take place, the Chase would become America's first banl}rl in size. . The friendly yet vigorous rivalry for first place has centered the N:{lon's business eyes on John McHugh, former Iowa banker, chairman of the Chase National, and Charles E. Mitchell, chairman of the National City, who began his business career in Chicago. Paul M. Warburg, president of the American International Acceptance Corporation, outstanding student of world banking conditions, member of the first Federal Reserve Board, has expressed himself much in favor of the new Bank for International Settlements. “A most_ingenious and happy idea,” says Mr. Warburg. “Not only because through its medium it has become pos- sible to substitute a group of the best business minds as judges for a political party, but also because in the field of economics and finances the bank is likely to play the part of a balance wheel. Tt is likely to act as a stabilizer not only between Germany and her :rledisol‘s, but also between other coun- ries.” Secretary of State Stimson has al- cials from the service of this new bank, but their relationship between the bank and the Federal Reserve, while not yet clearly defined, will be very close and important. | Some bankers in New York believe th> Eederal Reserve Bank should have | permission to buy stock in the Bank for | International Settlements and serve as its correspondent, even though this | would require special legislation by | Congress. The more important matter, | however, is that which deals with its personnel. i “Owen D. Young would make an ideal | man to head this bank” as one New | York banker expressed it to me yester- day. But his business duties are ‘uCh\ that this is virtually impossible. | It is known S. Parker Gilbert, agent | general of reparations, wants to return to America, and it is doubtful if he could be interested. i Some believe Pierre Jay, who has been associated with Mr. Gilbert, end who was formerly Federal Reserve agent of the New York Federal Reserve Bank may be assoclated with the new bank. In addition to the active officials there are to be two boards connected with the bank; one the board of di- rectors and the othcr the advisory council. It is probable that at least | one American representative will be on each. The important Colorado Springs of conference of the governors, called by | President Hoover, is getting down to business. 1t is not exactly a harmonious gath- ering. The little independent oil pro- ducer seems to see in curtailment of ofl production the death knell to many of his own ambitions. There are today 320,000 ofl wells in | the United States producing an av-, erage of 8 barrels each daily. Hun-| dreds of new wells are being brougnt in every month—many of them wild- | catters—those brought in usually by | little independents. | E. B. Resser, president of the Amer- ican Petroleum Institute, told the 300 delegates, advisers and spectators at the conference, that the United States was producing 72 per cent of the total an- nual consumption of petroleum prod- ucts in the world. And the country has only 18 per cent of the world’ vetroleum reserves—a lopsided and un- economical position, he says. (Copyright, 1929, by North American News- baper Alliance.) S FIRST QUARTER EARNINGS SHOW 32 PER CENT GAIN First quarter earnings of the 496 lead- ing industrial, utility and railroad cor- porations reporting to date total $645,- 235,000, against $489,703,000 for these same firms in the 1928 quarter, accord- ing to a compilation by the Standard Statistics Co. of New York. The aggregate gain is 32.1 per cent, but the individual industries show a wide disparity, with copper, aircraft and miscellaneous mining leading the list with increases of more than 100 per cent. The smallest percentage gains are in the automobile, traction and electric light industries, except for some few trades from which returns insufficient for listing have been received. BAFETY I8 WORTH A FEW MORE PENNIES .If&. fast mar- ket is often haz- ardous — HOOD TIRES assure Safety at any oS l National Bank absorbs the National | ready ruled out Federal Reserve offi- | _YOUR _ { CHICAGO LIVE STOCK MARKET Receipts, 19,000 head, including 7,000 head direct; later trade, 1 11.40, paid for 180-210 pound weights; bulk of better 's 160-280 pounds, ers, medium to choice, 10.60811.10; 10 :?n‘ king sows, 9.25a10.10; pigs, | choice, 90-130 pounus,‘ Cattle—Receipts, 7,000 head. Calves— Receipts, 2,500 head; steer trade strong to 25c higher and active at advance; nllmil;welngwln twnde: new top, 15.40 paid for 1,200-] av ; numer- Ous_loads, 1500a15.25; best. heavi 15.35; she stock slow; slaughter classes, and choice, 1,300-1,500 14.25a 15.50; 1,100 - 1,300 pounds, 14.25a15.50; 950-1,100 pounds, 14.25a15.50; common and medium, 850 pounds up, 11.50a14.25; fed yearlings, choice, choice, 850 pounds’ down, 13.75a15.10; common and medi 758! L medium, 8.40a210.00; low Cutter, 6.5088.40; bulls, go0d And whome ), 10.50a11:50; cutter to medium, 8.00a10.50; vealers (milk fed), good and choice ,13.00a15.50; medium, 10.50a 13.00; cull and common, 8.00a10.50; stocker and feeder steers, good and choice (all weights), 12.25a13.25; com- | mon and medium, 9.75a12.25. | Sheep—Receipts, 14,000 head; trade very slow, 25 lower; lambs, 15.50a 16.00; top, 16.25; occasional load of | yearlings, 12.00 down; fat ewes, steady, | 5.5026.50 lambs, good and choice, 92 | pounds down, 15.25a16.35; medium, 14.00a15.25; cull and common, 11.758 14.00; ewes, medium to choice, 150 pound; b%ozx;.s .;s-;r‘nn; cull and com- mon, 2.50a5.’ eeder lambs, choice,” 12.50a13.50. e New Securities By the Associated Press. NEW YORK, June 12—New - ties offered today include: b One hundred thousand shares Central States Electric Corporation convertible pxeTr'e‘rred s‘tfick, at $100 a share. ree million, one hundred thousan dn‘l;:lx: t?e Montreal :aetropouun Com? mission 5 per cent gold bon rice 99% and interest. i Epseas Seventy thousand shares the Atlantic Coast Fisheries Co., no par capital stock. Price upon application. Three million, two hundred and twenty-four thousand, five hundred dol- lars City of Albany, N. Y., 415 per cent gold bonds, due June 1, 1930, to 1969, at prices to yield 5.50 per cent to 4.20 per cent. Three million, nine hundred thou- sand City of Toledo, Ohio, 41, per cent and 4% per cent bonds, due 1930 to 195:. inclusive, to yield 5.50 to 4.40 per cent. Four million, five hundred thousand Home and Foreign Securities Corpora- tion cumulative preferred stock, no par, and common stock, no par, with war- rangs. at $60 per unit of one share each. SILVER QUOTATIONS. | NEW | ver, 52%; Mexican dollars, 40. (Originated by The Departmental Bank in 1904) When you borrow money on a Character Loan you acquire a bank balance at the same time. —will advance you money—if you are a Government employe of good character— and your return pay- ments are budgeted so as to leave a substan- tial balance for you in 1726 Pa. Ave. N.W. Main 2709 S. GOVT. SUPERVISION UNDER U, 0 higher, cents higher; top, | s’ ; best heavies, | Sept good_ and 750-950 | >R pounds, 14.00a15.40; heifers, good and |July 12.50; common | Jul YORK, June 12 (#).—Bar sil- ||| FINANCIA WHEAT CLOSES LOWER. CHICAGO, June 12 (#)—Practically 5¢ a bushel drop in wheat values took from up of the farm relief bill. Aggressive , how- ever, because of indications that delay to the farm measure would prove brief, led afterward to a sharp th incom- plete recovery in prices. Renewal of dry weather complaints from Canada tend- rally the wheat market. to , Ya off, and provisions varying from decline to a rise of 10c. WHEAT— High to He 2 to 5¢ S ] %5 248 2g2 nap oee B3 R F COTTON PRICES GAIN. NEW YORK, June 12 (Special).— The combination of a private estimate on domestic consumption for May of 100,000 bales more than for May last year and an_ official weevil report an- nounced for Friday noon had a stimu- lating effect on today’s cotton market. After selling off a few points early in the day on the best weather in the South in six weeks, the whole market steadied and advanced about a dollar a blrli. ending with gains of 10 to 15 Spots advanced 15 points to| Land Ban Fishermen on the southwestern coast of Maine use periwinkles and whelks for bait, for they have found that dog- fish and other maruders of the sea sel- dom devour a snail-baited hook. i 1 | | | | | | | | | | | | | lsmdy. electrol mark sags | Cotton—} Markets at a Glance NEW YORK, June 12 (#).—Stocks— m Auburn Auto soars 15 points to h. . Bonds—Steady; convertibles improve in dull session. Curb—Irregular; upper New York State utilities buoyant. Foreign exchanges—Mixed; German 23.79 cents. er; sumption report. Sugar—Steady; Cuban support. Coffee—Lower; easier Brazilian mar- ets. CHICAGO, June 1% () .—Wheat— Easy; farm relief action disappointing. Corn—Easy; sympathy with wheat. Cattle—Strong to higher. ‘Higher, MONEY MARKET. NEW YORK, June 12 (#).—Call money steady; 8 per cent all day. Time loans easier; 30 days, 8%,a8%%; /aa8ly; 4-6 ma:'-hl. 8%. Prime paper, 6. Bankers acceptances unchanged. METAL MARKET. NEW YORK, June 12 (#).—Copper lytic spot and future, 18; iron_steady, un ; tin easy, t. 44.25244.37; future, 44.75a44.87; P ; East St. Louis, 6.80; zinc steady, East St. Louls, spot and future, 6.60a6.65; antimony, 8.87a9.00. it FEDERAL LAND BANK BONDS. NEW YORK, June 12 (Sgechl).— Bid. Asked. £ £35352882R22RRR8! RERE 850222 88RERRRE; W - S CAHTAL $15 to $25 bR RO R SUITS For Summer Wear STORE _ YOU LINENS MOHAIRS $20 PALM BEACHES 2-Piece Sui $25 & $28 W hite Flannel Trousers $10 to $20 Sid S i 14th & G Streets N. W. EUGENE C. GOTT—PRESIDENT $16.50 SILK POPLINS $40 GABARDINES $30 TROPICAL WORSTEDS 3-Piece Suits $40-& $45 Linen Sparts Knickers $4 to $7.50 West (INCORPORATED) LET THIS SIX PER CENT NET INVESTMENT be the solution to the re-investment of your July Funds OW is the time to determine where you are going to re-invest your July Funds. Thoughtful deliberation, and a decision in favor of this Shannon & Luchs First Mortgage Issue will not only insure you against any loss of income because of idleness of your funds—but will assure the safety of your capital, and the income to be derived from it, for the next period of investment. A brochure stating full particulars regarding this issue will be mailed you upon request. ‘We urge that you make your reservations at once, since these notes are all offered subject to prior sale. Issued in denominations of $100, $250, $500 and $1,000— Bearing Interest at an annual rate of ‘6‘70 Net CALL NATIONAL 2345 NON & LU 1435 K Street N.W.