Evening Star Newspaper, July 29, 1929, Page 15

MONEY TO LOAN lef‘r' ;Ilannl -? l.'!"‘. You Consult WELCH Rell(nn Loan Speecialists Money to Lonn v fAirst do st o ling interest and Jotepll I Weller ‘.‘,',‘,('";:' Invest Your F undl In 6'3% First Trust Notes See WELCH Loan Specialists THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares ALTRUSTEED OWNER- in 100 leading Rtrican Corporations. First Mortgages Safe—Conservative 42 Years® Txperience Make your savings snd surplus funds work for you at the higheat-inter- in finaneing ext rale conalstent homes and In th h absolute sale of thess atety. curtties. Wm_H. Saunders Co., Inc. RFALTORS Main 1016 LOANS | On lm[:rum‘d prn[u-rty 6% Interest 1433 K No Commission Charges EAVER BRO REALTORS 809 15th Street NW. District 9486 Morigage Loan Correspondent Metropolitan Lije Insurance Company M ) We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street Associated Gas & Electric Co. ! Dividend No.18 on Class A Stoek | The Board of Directors has declared the Tegular auarterly dividend on the Class A Stock pavable August 1. 1929, in Class A Siock at the rate of 1/40th of one share of Class A Stock for each share held of record at the close of business. June 20, 1929, | ©On the basis of the current market price for the Class A Stock of about $59 per share. ihie dividend vields a return of about $5.90 per share per annum. Scrip for fractional shares will mot be ! Aelivered, but will be credited o the stoc holdsr's account until a full share hi accummiated. Stockholders con purchase anficient addifional scrip to complete full | shares. stock will_be made to all | thereto who do not. t in olders antitied Jule 26 On improved real esiate <i ated in Washington and suburbs, We have first mortagage money to loan for refinancing or construction purposes. You'll find ns ready to give immediate assistance, its Just fell ns how much vou need, a briei outline of the property and its approximate valwation. Lowest rate of interest. ~ REALESTATE - MORTGAGE & GUARANTY CORFORATION Capital Resources $3,400,000 24 JACKSON PLACE 1979, reavest pavment | CONVERTIBLE LIST OF BONDS AGTIVE Trading Practically Confined to That Group—Some Rails Advance. BY CHARLES F. SPEARE. { Special Dispatch to The Star, NEW YORK, July 29.—Trading in bonds today was again confined largely to the convertible issues, although these | were less active than they have been, with the domestic issues showing a tendency to react, while the two promi- i nent foreign bonds in this group were | steady. The high rates for money did not | prevent a number of the firsi mortgage rails from advancing fractionally. Some | of the United States Treasury certifi- | cates made small gains. ‘Throughout | the miscellaneous list of industrials and ! rails, there were moderate changes, with none showing a definite departure from | recent price movements. A. T. & T. Bonds Drop. American Telephone & Telegraph 4155 opened 1'> points higher, then | dropped to a net loss of 5 points. Inter- | national Telephone 4l,s were off 64 | points. In contrast to these fluctua- | tions ‘was the rise of 2! points in | Philadelphia & Reading 65 1o a new | ,mgn level, of 1l points in American G. Chemical 5%s, of about a point At 4155, with American_In- ternational 51,5, General Steel Cast- ings 5138, Kreuger & Toll 55 and Lau- taro 6s strong. The last two named are mow the most popular in the in- dustrial group, with tofal transactions in them last week amounting to about $5.500,000. All reacted this afternoon. | Foreign issues were generally heavy, | including a decline of a point in Ger- ! man Agricultural Bank 6s, losses of | |'e to 1 in Ttalian government and | { municipal jssues and small fractional | declines in French descriptions. The | recent liquidation in dollar bonds has | brought. new low prices for the year |in A number of the listed South Ameri- {can issues. At the same time it has {eut. down the percentage of recovery that took place in German bonds fol- the | lowing Paris debt There are also ten or a dozen unlisted | forelgn bonds now selling at the lowest vol the year. The ‘program of conference. | the Middle West | Utilities Co. in refiring its funded debt | > -THE NEW EVENING STAR, WASHINGTOX, ; [ox wov vox BONDSmocxmxenvce}. | }HLESALE TRADE Received by UNITED STATES. (Bales are in ¥ Sales. Lib3%s.... 194 90" Liblstes 6 982 Lib4th ¢%s 72 991 US3%s... 101001 U S4s1944. 357 1034 UBSeussz. 11071 by Bales. Argentine 5%s 62, 2 Argentine s Ju by, 3 Argentine May '61. 10 Argentine 6s Uct 53 Celgium 7s 1956 Beigium 7s 1956 Brazil 6348 1927 Brazil 7s, Brazil & Bremen Canada 531931, Canada bs 19 Chile 63 °61. Christiania 6 Colombia 6 Con Pow Copenhagen bs Danish Munic 83 Denmark 6s.... DE15%s Mch 53 Dutch East 1 63 62 Fiat 78 x war 46 Finland 58 Finland s £ 6; Finland 7s.. Framerican 74%s French 7s. French 7 erman Bank 6s '33 4 German KiF 6% Greek 63 16/ Haiu Laly 78... italian Pub 8 7s.. Japanese e Japan 615 Kreuger&Toll b and financing with common stock as | N the most popular method of raising | |new capital is another evidence that | recovery in public interest in morigage | obligations will be siow. Equipment Tssues Low. The high rates for money are com- ! pelling the sale of railroad equipment {issues_at the lowest prices in vears. | | The Rock Island 450.000 4" per cent equipments to vield | 515 on the last five maturities and | {from 6 per cent to 53 per cent for | | the one and two year notes. today offered $9.- | ., Norway 6s 1944. Orient Dev 5455 — - 0 Poland 7s (rets) Poland 8s. Queensland 6s. RhineWst EP —re Washmgton Stock Exchange. SAL | | Washington Gas 6s B-—$1.000 at 1057, | Capital Traction Co.—50 at 95. 30 at 9! H | Merchants' Trans. & Storage com. at 1157, | Mergenthaler Linotype—7 at 105, 7 at | 1047, Narlanal Mortgage & Inv. pfd.—100 at 43, Real Estate Mtge. & Guar. pfd.—90 at 73, | | District’ National Bank—10 at 232, AFTER CALL. Washingfon Gas 6s A—$2.000 at 1027 | Potomac Electric 5'>% pid.—1 at 108, 10 at 108 Potomac Electric 6% pfd.—5 at 112, 10 at 112, i Washington Rwy. & Elec. 45—$1,000 at | 8614, | TN Washington Savings Bark—100 at 14, Bid and Asked Prices. BONDS. ! PUBLIC UTILITY. | i ofter. | Amer. Tel. & Teisa.. . Wash. Gas 6s. series ceries Rwy. & Elec. MIS s D. C. Paper Mfg. 65 Pot. "Joint_Stock Ld. B Wesh. Market Cold Stora Wash. Cons. Title Co. 62 STOC KS PUBLIC UTILITY. Amer. Tel. & Telga Wash. Rwy. & Elec. pid. Wasn., Ballo. & Annap. com Wash., Balio. & Annap pfa NATIONAL BANK. | National Capital. Columb s cond National Bink of Washingon: TRUST COMPANY. | American Security & Trust Co. Washington Mechi FIRE INSURANCE. American National ' Union | TITLE INSURANCE. nv. Co: ‘of Md. ‘Cons. Title pfd Barber & Ross, Inc.. com Cheyy Chase Dairy dfd W iviadnd. COfibN GOODS QUIET NEW YORK, July 20 (Special).— Cotton markets quiet today. Print cloths were quoted unchanged at 7Y% for 64x60s and up Js for 68x72s; raw silks were qulet and uncmnged RUBBER IS LOWER, NEW YORK, July 29 (Special).— Crude rubber, smoked ribber sheets, was down s at today's noon quotation of RhineWst EP 63’53 17 RhineWst EP 78’30 Rio de Janeiro 6% | 10 de Jan 83 1946 Rlo GrDo Sol 65 2io Gr Do Sul 85 | Rome 6% | Sao Paulo 8= 1936, Sao Paulo 1950 Saxon (PW) Seine 7s 42.. Serbs Cr Siav 7s. Serbs Crot Slo 3 Shinyetsu 643 52. Soissons 6= rRe et ReRao b Utd Kingim ba 3 Uruguay 6x 1960 Uruy Yokohama é» MlSC:LLANEOU& Abram&Straus6%s ! Rubber 2 Alleghany Cp 63 44157 Alleghany 5s 49 wilil AmAgTIChem T%s. 1 | Am Chem 53 mcv'4y 51 Am Int Cor 5338 49 i37 AnSmit&R 1stss. | Am Sugar’Ref 6s... 5 Am T&T cv 44%39 un 1 Am Water Wks b3, Anaconda 18t & Anaconda cv db 7s | Armour&Co43as 39 Armour Del 5348 Atlantic Refin bs Bell Tel Pa 55 B. Bethlehm Sti pm b3 Col G&EI 55 May 52 Com Invest 5%3 49 Com Invest 63 Con Coal Md 15t 63. Con Gas N Y 5%s.. Consumers Pow b3. Cuba Cane ev % Cuba Cane 3s Cuban Am Sug Dery (D G) 75. Datroil Edison5s40. Fisk Rubber Gen Asphalt 65 Gen Cable 5% 847 Gen Mot Ac Cor 68, Goodrich 6%4s. Goodyear 6a rets. Humble O11 & Humble O & R 6% (ilinois Bell 1st 53 Indiana Steel b Ilnland Stl 4% ntl Cement b8 43.. Intl Match 55 47. int Mer Marine 6i Inter Paper 63. Int Tel&Teleg 4%s. 11 Int Tel&Tel 448 cv 210 KanG& Efs52... 8 | Lautaro Nitrate 6s.106 Loew's 63 w 0 war., | Lortllard ManatiSug st 148, Midvale Steel § Mont Pow 68 43 Nor States Pow 65, Pan-Amer Pete §s. Paramount 6s 1947, 3 Philips Petro 6% s Por Ric Am Tob Postal Tel & C6% ReminglonArs 6332. Rem Rnd b%s war. Sin Pipe Line 6s. South Bell Tel Southwest Bel Stand OIN ¥ 213, ~This compared with 20% a month ago and 19% a year ago, Laborers in parts of Chile are being afldum&dv.,.~r,_.. Tenn Cop 6= B Tennkieciow USRub1ALILEE... 3 Private Wire Direct to The Star Office s. High. 101 109% 100% 109% 994 924y 1.000.) Close 96 18 98 28 991 100 12 102 107 31 8 9828 9829 2 100 12 102 29 2 10712 Walworth 6s *45. Walworth 6% \\ arner Sug s 3 FOREIGN. High, uv Close. 91 Wilson & Co 18t 9% 9914 | (b a9 | Willys 94 9% i Youngstn S & Tss. & 100 RAILROAD. Atchison gen s B &OSW5s 60. Bang & Aroos 45 1. Buff K& Pitt 4%s Can Nat 4%n 30, Can Nat4%s 67. nada Natl4 'gn 6 14 n Nor4%s 1 Canad North 8% Canaa Pac deb Central Pacific 4 nt Fac 18t 53 30 Ches & O Corpn bs. CB&Q4%s17B. Chi B & Q 1st rf b8, Ch&E 111 gn 68 61.. Chi Gt West 45 6! C M & StPgn 8o Chi M&SLP 438 E. Chi 5 Chi R1&Prf s2 |CRIRI& Pac4ls 974 | ChiSIPM&O 6330 Chi Union Sta b Chi Union Sta 55 44, Chi & W Ind en 4s. Clev Term 5%« Cuba R R 65 1936 ¢f Cuba RR73%4s Cuba Nor b8 ct: Del & Hud 7s 30. Den & Rio G | DRG & Wetbs 78 D Rio G West bs. .. | Det United 4% 3. Krie 1st cons 43, 1013, B 10615 2013 100% 1] 101 Bt Pt Gr Trunk stdb 6 Gt Nor 448 76 D. 2 | Grt Nortin 428 K., Great North ? | Great Nortn Great Nor gen | Hud & Man'a) % | Hud & Man ret 9210 A |-Ccsienc e int liapid Tran & 05| Int Rap I'r ba atpd.. | Int Rapid T lint kap int Kys 2 Int Ky CA 6348 ret. Kan City Ft S 43 { Kansas City Kansas City S bs. Lake Shore 4 31 Lehigh Val Louis & Nash & Louis & Nash 5 Mo Fae 53 Mo Pacific 5s Mo Pac 5138 i Mont Trm re ' | Nash Chat&StL s ,\;.«.u Kl4sb INX Cen gen 3% N Y Cent deb 4 S{NYCrfimdlgs, V\ Y Centrt Y Cent deb 6: 1.deb 48, ' NY C&StL 4%4sC.. | NYChiastL 5l sA. INYC&SULEsA. Y NH&H4}38.. [‘\Y NH&H cvdb NY NH&H cit s, N Y Kys 6s 65 N Y State Ry 4% NYStateRy 6 110 50 10 109 b »0 1074 108 105 121 10 10045 102% 180 101% 1023 105 IRl 1047y 171 BEa bR 100 102 9% 101% 10415 2 1600 707 110 122 111 10015 1031 187 1001 103 | Nor Pac s 2047. Nortnern Pacific 4 Nor Pac 4%s 2047.. Nortnern L'acr i 63, Ore Snort L rfs 4s.. 1 10Ore Wash 1st ds.... Pennsyl gen 41as. .. Penna R R 4%3'63. | Pennsyl gen o3, | Pennsy1 os 64. 60' | Pennsyl 6% 613 | Pennsyl goid 94h | Peo & B It 43 40. | pere Mara 150 PCC&SULSSA.. PCC&SIL 53 B T5. Reading gen 4%4s 1AMk & L4%s St IM&S gn b St L IM&S R&G 48, StL&SFpleasA SLL&S Fra%s StL& S F prin 58, {StLS W 1st4s. St LS Wcon s 32 Seab A Liref 4s.... abAL ad) Gx 1949. Seab A L con 68.... SBAIlFla6s35 A. {Sou Pucclt 43. | Sou Facific ref 4 Sou Pac 4%s re | Sou Pac 41456 Sou Ry gen 4s. Sou Ry Con 63, Sou Ry 6556, TexArk FSb%s50. Texas & Pacihc 1at, 2| Tex & Pac b8 C'79.. Tol Tr L&P 653 30, Union Pac 1st 4x Unfon Pacific 43 Inion Pac 1atrf 4. | Unton Pac 4%s "67. | Virginia Ry 1stbs. 10955 49% 8508 10018 107 100% 974 90 3 104% 100t 1068 % 100% 102 104% . 995 100 108 | Weat Maryland 4a 10310 | Weat Md 5% ‘77.. 11115 | West Shore 4s'61.., Wis Cent gn 4349 RateMaturity, 4345 Sept. 15, 192 4Yas Sept. 15] 1t c. FQEEIGN EXCHANGE value (or par) London, pound 34.8665 aris, franc.. 3 2% sa kY )a». Stocknoim, Gown Low. Close. TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) (Quotations furnished by W. B. Hibbs & Co.) Nominal gold s:un‘::‘:hecn | 1S DRAGGY TODAY |Local Market Glutted With Carolina Cantaloupes—Heat Hurts Egg Market. Farly morning trading the first mar- ket day of the week was inclined to be | slow and draggy, according to repoits 'ol dealers, receipts of most commodities ' being in excess of demands. A demoralization of the cantaloupe .mlrket ‘was reported by wholesalers, packers of the fruit in the, Ridgeway. N. C., section continuing 4 glut the market. “This is the first season years that these eantaloupes have not | {been up to a high standard,” com- | mented a dealer, “and the reason for | | their not possessing their usual sweet- i ness has not_been explained.” | It was difficult to quote prices this morning, said a wholesaler, the price be- ing determined entirely by the condi- tion of the fruit and the desire on part | of local merchants for it. | The dealer said gathering and crating of the fruit costs approximately 25 cents and cartage 60 cents, Go at 50 Cents a Crate. “And still,” he added, to sell some of the fruit as low as 50 cents a cMeate.” Prices of $1 and $1.50 a crate were the quotations. stock, cholcest of the receipts, sold *|around $250 and $3 a crate. There ' 100% | 89 | to offer the trade, | taking the two fruifs in place of can- 6414 | 1aloupes %11, _ Peaches from North 1021 Carolina and in excess of demands today. Many of j especially fine stock Elbertas that brought. $3.50 a bushel basket. Apples, not partieularly plentiful, were offered at a wide range of prices, and various prices were quoted for California pears, plums and cherries. 53 | There were a few pineapples also of- 1065 | fered the trade. i Tomato Prices High. 30 | . Tomato prices keep up: Late Satur- day sales made as low 101 ! 2-peck ba: 59% | had none to offer at that figure, They %9 [quoted them at $1.75 and $2. Sugar s, | corn from nearby farms this morning 13| brought 30 and 40 cents a dozen, fleld corn selling slightly lower. Continued hot weather is plaving havoe with the egg Teceipts. losses in | candling being particularly heavy. One 6% | dealer reported a loss of more than five | dozen in a crate of 30 dozen eggs. it 5314 | WAS stated this morning. the remainder 1025 | of the eggs being in such condition that ? | they had to be sold at prices far below | the market quotations. There wers very few changes in prices reported this morning, most prices | being what they were Saturday. An easing of poultry prices was one of the few exceptions. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 43a44; tub, 42a43; store packed, 2 | Eggs—Hennery, 37a3! 36a37; current receipt. Poultry, _alive—Turl ¥l 8% 7 92y fresh selected, 32, £ A oung. 60a65; old, 35a40. Dressed —Turkeys, 38a40: Spring chickens, large, 40242 medium. 37a38: small, 35: 36, Leghorns, 35a36: fowls, 36a37; | Yoosters, 26; ducks, 28a30; keats, 90a 1.00. Meats, fresh killed—Beef, 241 3; lamb, 28a30; pork loins, 3 fresh shoulders. 3 veal, fresh 22; ; lard in bulk, 15; in packages. 16. Live stock—Calves, 1513; lambs, 1214, Fruit and Vegetable Review. ‘s market report on fruits and compiled by | News Service Bureau of Agricultural Economics, quotes: Cantaloupes—Arizona: Supplies mod- erate; demand light, market dull; Jum- bos, 36s and 45s, Salmon Tints, 2.508 3.00: Jumbo flats, 9s and 125, 1.00a1.25. North Carolina, Ridgeway section: Sup- | plies liberal; demand moderate, market | weak; Standards, 36s, Salmon Tints, 1.00a1.50, mostly 1 sStandards, 45s. 9215 | 75a1.25, mostly 1.00: poorer low as 50. 10 Miscellaneous melons—Supplies mod- 101 | erate; demand moderate, markef firm. 87 California, Imperial Valley, standard 30 | crates Honey Dews, 8s o 12, 15022325, 10 | beat mostly 2.00: _ Callfornis 9 | 455, Honey Balls, 3.0083.259 ! Lettuce—Western supplies light: mand moderate, market stronger. California and Washington, crates Iceberg type, 4-5 dozen, 6.50a | 7.00, mostly 6.50. Easlern stock—New de- York: Supplies moderate: demand mod- | erate, market about steady: 2-dozen crates Big Boston type, 7521.00, moxrl) 90a1.00. YOU CAN INVEST “WITH IN OUR 6 FIRST % NOTES BENOMINATIONE OF 3$250 PROTECTED “eareful appraisement of train- GONFIDENCE MORTGAGE ARD TPWARD SWE’BED on earelully selected and im- proved real estate in Washington and its environs. INSURED ogainst loss by fire by standard msurance companies. NTERRST Ws RECEV] b THE = THI ARE DU BOSSEEPHELPS 1417 K St. National 9300 Tarking space In resr of office for onr clients BY in many | “we have had | California and Arizona | 941 | were plenty honeydews and honeyballs | many consumers | ,Sflull\ Carolina also were received much | them were not of the best. quality ana | sold as low as $1, while there were some | the Market. | , Jumbos, | slightly | bonsult Us Regarding Your Maturing Mortgage LONG-TERM REAL ESTATE LOANS SY2% ‘We Make First Manugn on Homes, Apartments and Business Properties in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Mertgace Loan Correspondent, New York %ife Insurance Compeny MONDAY, JULY 29, 1929. Onlnm—suppllel H:ht demand mod- erate, market stead tern Shore of v!r.lnl.- bushel hnmpen Yellows, No. 1, 1.50a1.75. Pennsylvania, no sales re. ported. Washington, 100-pound sacks Valencia type, U. 8. No, 1, 3.75, Peach Market Firm. Peaches—Supplies moderate; demand moderate, market firm for good stock. North Carolina, bushel baskets El- bertas, U. 8. No. 1, 2';-inch minimum, | 3.00a3.50; um:lls!lflrd 2%-inch mini- | mum, 2.00a2.50; bushel baskets Belles, unclassified, good quality and condition, | large size, 2.50a2.75. North and South Carolina and Georgia, 65, Elbertas, Belles, medium size, fair quality and condition, pale color, 50a75. Virginia, bushel baskets Carmans, medium to large size, good quality and condition, 1.50; fair quality and condition low as l 4-inch minimum mostly -inch minimum, 2.25. Potatoes — Supplies light; demand r oderate, market firm; Eastern Shore Virginia, 'cloth-top stave barrels, cob- | blers, U. S. No. 1, mostly 5.00, few lower. ‘Tomatoes—Supplies light; moderate, market. about steady; | Maryland, 15-bushel hampers, ripes turning, wrapped, 150!200 Norfolk \lectlnn Virginia, 6s, ripes ‘wrapped, Tair quality and condition, fancy count, 1.25a1.75 ‘Watermelons-—Supplies moderate: de- mand moderate, market South Carolina, Tom Watsons. 20-22-pound | average, fair quality, 25: 28-pound aver- | age Thurmond Grays, 65: 32-34-pound | average Thurmond G . 90-1.00; \ North Carolina, Tom Watsons, 28-30 | pound average, 75a85. First Mortgage Loans Fair Rates of Interest J. LEO KOLE 923 N. Y. Ave. Dis. 5027 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, lvu.é Mortgages Investments JAMES Y, PENNEBAKER Il Nat.s2m1 1520k Se.Nw. | as $1.25 for | ets, but, dealers this morning | Mutual Investment Trust Offers advantages to the Investor in addition to Substantial Profits 529, net earnings 3o far tis year Write jor Booklet Marlow Beech Corp 1732 Conn. Ave. Potomac 6167 Let us have your applications for LOANS ON REAL ESTATE Immediate Action Courteous Treatment Onr record of 35 years speaks for itsclf. Percy H. Russell Co. 1731 K St. N.W. smoked shoulders. I A Complete | | Investment 1l | Service | GrLLeT & CO. BANKERS INVESTMENT BUILDING WASHINGTON, D. Telephone, National 2460 'FINANCIAT? i T T ENTERPRISE SERIAL ~ BUILDING ASSOCIATION 7th St. & La Ave. N.W. 62nd l-,: ::.l“h';: N:' Open Money Loaned to Members on Easy Monthly Payments James . esidens™"" 6% First Mortgages For Sale JAMES F. 643 L SHEA na Ave. N.W. Equitable Co-Operative Bldg. Ass'n JOHN JOY EDSON, President WALTER S. PRATT, Jr., Se Organized 1379 4th YEAR COM"LF’I’!F'I:“" Assels $5,513,051.68 Surplus & Profits.....$1, 04.98 Subscription for the 97tk ssue of Stock Being Received SAVE AS YOU EARN TI-H? Equitable’s plan of sys- tematic savings encourages thrift in a manner that if con- istently followed will eventual- + lead to financial independence. Start now while you have a steady income. Come in and let 1s explain about our systematic plan. 915 F St. N.W. I Complete Investment end Brokerage Service Copy of our “Foitwizhtly R. furmished om request G. M.-P. MURPHY & CoO. Members New York Stock Fxchange 1508 H Street ietw Connecticut at K WASHINGTON Telephone National 9600 Philadelphia Richn ond London Private Wires and Telephones to New York MOR SATFTE FIRST MG A GBS THEY MEET EVERY REQUISITE T'here are certain require- ments necessary to make an in- vestment safe and attractive— and our FIRST MORTGAGES Qwver a Third have them all. cured by praised real estate. are se- conservatively ap- That in- They pay 6% interest withont ques- tion. May be purchased in amounts from $230 up. 'SAUL CO. 925 15th of a Lo Century Without a Loss sures vour principal. That insures vour incoine, B E National 2100 NAV. THERE NO SUBSTITUTE FOR £AFETY Second Southern Bankers Securities Corporation Capital Stock Wide diversification and ex- | perienced management are | | two features which make | | the capital stock of this | Company attractive. | | Price at the market Full information upon request. ' STEINBROS.& BOYCE | Established 1893 ‘Woodward Building WASHINGTON, D. C. Main Office: Baltimote, Md. WYORK, Baltimoreand rgton Stock Fxchanges Associate Members New York Cuvh Frchange Decatur 3600 1500 Miles of Carpet Honore de Balzac wrote of a merry character named *“Merca- det,”” one of whose get-rich-quick schemes was a plan to manufac- ture silk-lined paving blocks for the streets of Paris. Yet on over 1,500 miles of road in Newberry County, South Carelina, a blanket of coarse cotfon is stretchéd as the erosion-proof foundation for paving—and so successful has been the plan that a second stretch is being similarly treated. The difference hetween Balzac's wild scheme and the successful plan of modern highway engineers is simply the difference between wasteful Juxury and efficient use. Tt’s the same in the way you spend your money—you ean squander your surplus on useless luxuries, or you ean put it to work for you successfully by sav- ing and investing in some reliable security, In the 6% First Morigage Notes we sell there is not only an at- tractive and unfailing interest vield for you—you will have the assurance of safety, proven by our record of sixty years without loss to any investor. SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET ~.w./ WASHINGTON D.C. / .