Evening Star Newspaper, August 9, 1929, Page 15

1 & BONDS GOLOWER - INTRADING TODAY Convertibles Hardest Hit-by i Boost in Reserve Bank . Rediscount Rate. EY CHARLES F. SPEARE. Epecial Dispatch to The Star. NEW YORK, August 9—The effect of the higher rediscount rate of the New | A York Federal Reserve Bank on bonds today was mainly in the convertible is- sues, although there were lower prices in & number of the high-grade mort- gages and in United States Government and other tax-free securities. Heavy declines took place in the stock-option bonds at the opening and| g were increased during the first hour, with _some of the loss later regained as the speculative market improved after the initial wave of liquidation had spent its force. Transactions Are Large. American 1 juring this period dropped 12 : national Telephone 41is down 6 points, Philadelphia & ading Coal & Iron 6s 413 points, American_International 513s 3 points, General Public Service 5!2s 512 points, Southern Pacific 4'2s 1 point and Mis- souri Pacific 5'5s 2 points. Transactions in these bonds were in Jarge volume and represented nearly half of the total business of the day. There were other issues which fol- lowed the speculative list or were a fected by specific conditions and which also showed losses, though of a mod- erate character. Among them were Dodge which broke below par for the firsi time in some months; Paths 7s, at a new low level price for the year; Kreuger & Toll 5s, United States Rub- ber 55, Goodyear 5s, St. Paul adjust- ments and gold 5s and Brooklyn-Man- hattan 6s. Government List Heavy. The effect of the high rediscount rate appeared to be discouraging to holders of low income-producing bonds. It defl- nitely delays the possibility of any im- provement in the strictly investment is- sues. The United States Government list was heavy, especially Fourth Liberty 41,s. which declined !> a point. The Telephone & Telegraph | B! FINANCIAL. THE EVE NG STAR, WASHINGTON, D. C. ox wew vonx BONIDSiroce excmwncz], | ARINE PRODUGT eceived by Private Wire Direct to The Star Office UNITED STATES, (Sales are in $1,000. Sales. Hish. Low. Close. I 20 vo 0 Liblstek%s 19 9824 982 982 Libath e%e 178 9830 981 . 9512 43, 8 V616 9610 9616 121001 1001 1001 5102 102 02 FOREIGN. 100% 100's 108y 100% 100% 103 vk | | Canada 631931 Cunada 68 1963, Chile 60, Chile Colombia 65 Jan'61, Con Pow Japan % 9 ® Corai-oxxo Danish Muaic 88 B. Denmark e% Denmark 6%, '66. Framerican 7% French 7s French T%8... German EIP6%s.. German 7s. 21 German Bank ¢ “Treasury will have to consider within |y a month the rate at which it can take care of its September obligations. The rediscount rate is now 6 per cent, compared with 5 per cent when the 5'x Treasury certificates were brought out on June 15. These notes, after get- ting to a premium of 34 in July, are now back to about their original price. The Federal Reserve statement shows that the banks bought over $14,000,000 Treasury notes, but sold $4.000,000 Gov- ernment bonds and certificates of in-| debtedness. I Baltimore Markets l BALTIMORE, August 9 (Speclal).— Poultry — Alive, Spring chickens, pound, 25a32; Leghorns, 22a25; poor and thin, 18a20; old hens, 23a30; Leg- old roosters, 18a20; guinea fowls, each, 50a igeons, pair, 25. Eggs—Receipts, 1.229 cases; native and nearby firsts, 34; current receipts, 32a33. Butter—Good to fancy creamery, pound, 4la45: ladles, 33a35; store packed, 29':a30; rolls, 31a32. Process butter, 40a4l. Hay and Grain Prices. Wheat—No. 2 red Winter, spot, 1.343;; No. 2 red Winter, garlicky, spot, 1.28%; August delivery, 1.28%; Sep- tember delivery, 1.30%2; No. 3 red Win- ter, garlicky, spot, 1.243. Bag lots of nearby, 1.10a1.25. Cargoes on grade—No. 2 red Winter, garlicky, 1.28 No. 3, 1.24%; No, 4, 1.2134; No. Corn—No no quotations; No. 2, domestic yellow, l,!llal.22; cob corn, 5.7526.00 per bar- rel. Oats—No. 2, white, domestic, spot, €0; No. 3, white, domestic, spot, 58. Rye—Nearby, 1.00a1.15. Hay—Receipts, none. Season for old hay is about ove A little new crop is arriving, but hardly enough upon which to establish quotations by grades. ‘Where in good order, new pgy sells at from 13.00 to 15.00 per toi, according to its quality and condition, receipts by truck taking care of most requirements. Straw—Little demand for straw. Re- ceipts generally ample. Wheat straw, No. 1, per ton, 9.00a10.00; straw, No. 1, per ton, 9.00a10.00. Live Stock Market. Cattle—Receipts, 900 head; good sup- ply, market stronger. teers, choice, a13.25; medium, . 1.18%. s 2 ‘export, August delivery, o Orjent Dev 5%s'67. 20 Paris-Ly-Med 6 24 Paris-Ly-Med 7 Paris Orleans Peru 6u 1960, .14 Er RhineWst EP 685! RhineWst EP 6553 RbineWat EP 7860 Rio de Janeiro 6%s. Rio Gr Do Sul 8 Rome 6%s... San Paulo City 8s. Sao Paulo 88 1936 Sa0 Paulo 1950 Saxon (PW) Seine 78 42. Cr 8| o w. o » Qe TIPS =S N POy V™Yo~ JOT T Serbs Crot Slo 9 M Abram&Straus6%s 7 110 Ajax Rubber 88.... 1 754 754 Alleghany Cp 53 "44161 107% 106% Alleghany 63’49 wi 94 107% 106% Am Beet Sug 68’35, 2 85 85 1 833, Am Chem 5%s cv'45124 119 Am Int Cor 53849 162 108% 107% Am NatGas6%4w'43 15 78 78 AnSmit& R 1st 3. 17 101% 101 Am Sugar Ref 6 12 104 108% Am T&T cv 434 %39 2782 192% 185 AmT&Tcltrbs.. 95 102% 1024 AmT&Ts1 6 14 103 ;| Am Tel & Tel 53s.. 59 105% medium, 9.00a10.00; common, 7.00a8.50. Bulls, choice, stable, 9.50210.00; fair to good, 8.00a9.! to medium, 7.00a7.75. Cows, choice, stable, 9.00a 9.70; fair to good, 8.00a8.75; common to medium, 5.00a7.50. Sheep and lamb—Receipts, 1,500 head; good supply, market lower. Sheep, 2.0026.50; lambs, 8.00a15.25. Hogs—Receipts, 500 head; light sup- ply, market lower: lights, 12.80; heavies, 11.75a12.25; medium, 12.80; roughs, %.75a10.25; light pigs, 11.75; pigs, 12.50. Calves—Receipts, 100 head; light sup- ply, market steady; calves, 6.00a16.00. Produce Prices. Potatoes, 100 pounds, 3.00a3.25; bar- rel, 2.00a5.50; sweet potatoes, bushel, 1.50a2.50; beets, 100, 3.00a4.00; beans, bushel, 1.40a1.80; cabbage, hamper, 1.10 a1.35; carrots, 100, 3.00a4.00; celery, crate, 3.00a3.50; cucumbers, hamper, 40 860; corn, dozen, 18a30; egg plants, hamper, 1.00a1.10; lettuce, crate, 50a 1.00; lima beans, hamper, 90a1.35; onions, bushel, 90a1.15; peppers, ham- per, 30a50; squash, hamper, 15a35; to- matoes, hamper, 30a75; canners stock, bushel, 65a85; apples, bushel, 1.00a2.00; blackberries, quart, 12a15; cantaloupes, ‘hamper, 25a80; huckleberries, quart, 15 al8; oranges, box, 2.50a5.00; 3 bushel, 50a1.50; watermelons, 10a30. | BUYS AViAN CORP. nited Aircraft & Transport Ac- quires Plane Concern. NEW YORK, August 9 (#).—The United Aircraft & Transport Corpora= tion, holding company for several avia- Avian Corpor: of and has organized the Northrop Avia- tion Corporation to take over the assets of the Avian concern. ‘The Northrop company wulg&nme a subsidiary of the ited organ on. m"me :nnuuncemene said the United organization had acquired the Avian concern from its founders, John K. Northrop and W. K. Jay, in exchange for 3'"““;'3:"5 o{m!!nl'ed Al.fl:rl(a & ‘T ration common stock. The Av n r&?rpunuon has developed The Avial 2 new type of all-metal plane of novel design and shape, and the United com- d, plans to con- pany, it was announce struct a factory for the Northrop - ration at Burbank Fleld, Los Angeles. 't & Transport Cor- poration recently obtained control of the Sikorsky Aviation Corporation of Planes. and the Btearman S of Wichita, anes, anc 3 ans., makers of commercial RUBBER DECLINES. NEW YORK, August 9 (Special).— cmd:n mh?/."'tlm o nr:::ed sheets, was down % at today’ quotation of 20%. This compared with 22% & ‘month ago and 20 & year ago. Am Water Wks 4 100 Am Wrtg Pap 68°47 102 80% Armour&Co4%s 39, ;& 9 Bklyn Edison Bush Term Bldg §8. Certain-Tdb3srets 1 874 87% 3 103% 102% 102% 23 108% 1056 105 1 ¥8 98 98 85 1021 102 102 the | Inlana Angeles, Calif., Kendallsa'ds war. 2 92% 924 924 9% 99% 101% 101% 9% 100 114% 114% N Y Ed! NEToan N Y Tel 6s ¢ 1064 106% 99% 100% 104 104 Rl Postal Tel & C 5% Public Service 4% ki r Rem Rnd 6%s war Sinclair O1! Stnelair 011 ir 01l 78 r Crude 5348 Southwest Bell Stand ONIN ¥ ¢ Stand 01 N J b Tenn Cop 6s B TennlecFow Transcontl O} [ Walworth Walworth 68 '35 Warner Sug 78 39. Close. 1005 102% 106% 98'a 59 97 107 8% 109% 97 . Low. 100% 1023 9B ¥ 101% ;! Of retailers and consumers. RAILROAL. 86 Atchison ad ¢ 2 Atcnison g Atlantie C Ll Atlantic C L 43 Bklyn Un El Brooklyn Ele - OO AR 0L mHNES —. % . Car Clinch&O 6s 62. Cent of Ga 58 C'59.. Central Pacific Cent Fac 18t b o - Cooas Chi M&SLP 4% E. ChiMIISP&Pacts1s ChiTH&S Ebs. Chi T H inc 63 60 CCC&StL deb 4% Clev Term Colo & Sou Cuba R R 6 Cuba RR17 De}& Hud 6%s. Den & K10 G en 4 D Rio G West 6s. .. DRG & Wat 63'78 EastTennVa&Ga bs - » KD BuBImNROE e RRemo S NA~caw o Grt Northn 4%s Great North b Great Nor gen TS IS4 © ® o AR R B0 a M1l El Ry&Lt 4%s, M1l Kl Ry & L 68 61, Minn&StL £d b . 10 NYChi&StL 6%sA. 1 NYC&StLésA.. 15 New Haven 3%s 64, 11 New Haven3%s 3 New Haven 45 55, “01% Y6l 100 100% 101 1071 101 V415 FIND READY SALE Boatloads of Melons From Lower Chesapeake Arrive -at Market Here. Marine products were in demand at Municipal Fish Market for the Friday and week end trade this morning, and Iwholeulers ‘were able to supply demands A scarcity of several specles of fish was reported, but receipts of other varieties were large 1#| enough to satisty retatlers. Crabs, both hard and soft, and crab- meat were in demand, as were several | varieties of the cholcest fish from Bos- ton shippers. Shrimp also was in good demand, many of the green shrimp be- ing sold to anglers for bait. A surprising feature of conditions at Municipal Fish Market yesterday after- noon and this morning was the plentiful supplies of watermelons received, seven boatloads, first of the season, arriving from North Carolina and lower Vir- ginta, Melons Low as 15 Cents. Melons received by boat were of vari- ous.varieties and sizes, and dealers this morning quoted them as low as 15 cents, the larger sizes selling around 50 cents. One of the boats brought a cargo of 2,000 melons. Top quality melons offered at commission houses, sold from 60 cents to $1. An almost complete dropping off of cantaloupes from the Ridgeway, N. C.. dealers were depending largely upon homegrown, fruit for supplies. There were some cantaloupes from Mesilla Valley, N. Mex., reported of splendid quality, that were offered at $1.50 for flats. Honeyballs were quoted at $2, the honeydews bringing $2.25 and $2.50. Red seedless grapes, product of Cali- fornia, 24-pound boxes, were quoted at $4.25. South Carolina supplies of grapes, very attractive, Catawba, Niagaras and Delawares, were offered at $2.50 and $3 & box of 12 pounds. Dealers also had plentiful supplies of peaches to at prices ranging from $1.25 to $2. Numerous other varieties of fruits also were offered the trade. Potato Prices Fase. An easing of prices of potatoes was reported this morning, dealers quoting barrels at $5.50. Tomatoes were in fairly good supply this morning, prices covering a wide range. Culls sold as low as 35 cents, while top quality stock sold around $1. Lima beans, Eastern Shore of Mary- land stock, supplying the market, were more plentiful and cheaper, selling at $2 per bushel. Stringless beans brought $l.gfl and $2 a bushel. A continued firm condition of the egg market was reported this rhorning, deal ers telling of increased activity in tra ing. An increase of one-half cent a pound was reported by butter dealers, the increase not affecting the retall market. Business along all lines was reported more active this morning, and prices of most commodities were about the same as prices reported yesterday. Today’s Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 44%4845%; tub, 43',a44!%; store packed, 28a30. Eggs—Hennery, 40; fresh selected, 38; current receipts, 34. Poultry, alive—Turkeys, hens, 3! toms, 33; Spring chickens, large, 30a3: medium, 28; small, 27a28; Leghorns, fowls, 28a30; roosters, 22; ducks, 15a20; keats, young, 60a65; old, 35240. Dressed—Turkeys, 38a40; Spring chick- ens, large 38a40; medium, 37a38; small, 5; Leghorns, 33a35; fowls, 35a3l roosters, 26; ducks, 28a30; keats, 90a 0. 1.00. Meats, fresh killed—Beef, 2412; veal, 28; pork loin, 34; fresh fresh shoulders, 22 smoked hams, 30a32; smoked shoulders, 22; bacon, 28a30; lard in bulk, 15; in ackages, 16. & X.lveg stock—Calves, 18; lambs, 12%. Fruit and Vegetable Review. Today's market report on fruits and vegetables, compiled by the Market News Service Bu{‘enu of Agricultural nomics, quotes: Clnmlqoupcs—supp“!s light; demand moderate, market firm; New Mexico, 3.25; standard flats, 12s and 15s, 1.00a 1.25; jumbo flats, 12s and 15s, 1.25a1.50. Miscellaneous melons—Supplies mod: erate; demand moderate, market stead: California, Imperial Valley, and Arizona, Honeydews, standard crates, all sizs, 2.00a2.25; jumbos, 45s, 4.25; standards, 36s and 45s, 3.75; ponies, 45s, 2.75a3.00; Honey Balls, standard flats, 12s and 158, 1.50a 1.75, mostly 1.50. - Lettuce—Supplies moderate; demand light, market steady; Washington, crates Iceberg t: rado, crates Iceberg type, 4-5 dozen, fair York, 2-dozen crates Big Boston type, offer | o Hearts of Gold, standards, 45s, 3.00a{ wi California, Honey _Balls, | G FRIDAY. 200 Trade Heads Pick Best Stocks For 10-Year Pull Special Dispatch to The Star. [EW YORK, August 9.—It is not ofien that opinions as to the future course of stocks come from so high a source as the Harvard Business School. A questionnaire submitted to the executives of 200 business con- cerns in 27 States #s to the stocks that would show the largest appre- clation in the next 10 years brought out. the fact that American Tele- hone & Telegraph was the most avored prospect, with Curtiss Wright second, General Electric third, First National Bank of New York fourth and American & Forelgn Power fifth. Other prominent suggestions were Electric Bond & Share, In- ternational Telephone, Radio, Stan- dard of New Jersey and United Air- craft. No rails appeared in the list. VOTE ON STOCK BOOST. CHICAGO, August 9 (#).—Stockhold- ers of the North American Car Cor- poration were notified today of a spe- cial meeting August 22 to vote on a pro- posed increase in capital from 125,000 to 550,000 shares of no par common stock. The increase was to provide for possible expansion, but President Henry H. Brigham said no immediate public offering will bz made. LIVE POULTRY WEAK. CHICAGO, August 9 (#)—Poultry Alive, weak; Teceipts, 5 car: 7 springs, 27; broilers. 2 turkeys, 20a30; ducks, 18a20; geese, 15; Spring geese, 21, TREASURY CERTIFICATES. (Reported by J. & W. ReteMatur Selgman & o section was reported this morning, and (¢ 3138 De gl b e FOREIGN EXCHANGE. (Quotaticng furnished by W. B. Hibbs & Co.) Nominal gold Selling checks | valle (or Dar). London, 'pound 4.8665 Paris, franc. Br i Berlin, mark. lra ir Washington Sta;k Exchange SALES. Capital Traction 55—$500 at 97!}, Potomac Electric 6s 1953—$200 at 108, $100 at 10715, Washington Gas 55—$500 at 102. ‘Washington Gas 6s A—$300 at 101%. ‘Washington Rwy. & Elec. 45—$1,000 at 8614, $1,000 at 865, $1,000 at 86, $1,000 at 257, $500 at 85%;. Caplital Traction Co.—10 at 93.%; Potomac Electric 5!5% pfd.—5 at 1083;. ‘Washington Gas Light—10 at 126, 6 at 125, 10 at 126. American Security & Trust Co.—5 at 455, 1 at 455. United States Savings Bank—10 at 600. Federal-American Co. pfd.—20 at 101. Lanston Monotype—10 at 128l4. Merchants’ Transfer & Storage com.— 10 at 1165, Merchants’ Transfer & Storage pfd.—5 at 10615, Peoples’ Drug Stores pfd.—5 at 122. Rual Estate Mtge. & guar. pfd.—50 at T34, Ter. Ref. & Wrhs. Gorp.—5 at 51, 20 at 52, AFTER CALL. Capital Traction 55—8$1,000 at 97. Mergenthaler Linotype—10 at 10414, Capital Traction 55—8$1,000 at 9635. Lanston Monotype—10 at 12815, ‘Washington Gas 6s B—$100 at 1024, Bid and Asked Prices. BONDS. PUBLIC UTILITY. 20 omer &P Te Eco- | & mac ., 63, 1 Wash.. Alex & Mt. : Balt ‘Washin, . Gas Gas Wash. Rwy. & Elec. ds. : MISCELLANEOUS. Barber & Ross, Inc. Cham.-Vano) ‘Hote] 6! B G Faper e, 6. Pot. Joint Stock Ld. 'BK ‘63 Waih. Market Cold Storage Wash. Cons. Title Co. STOCKS. , 4-5 dozen, 6.0086.50; C0l0- | xmer quality and condition, 4.5084.75; New wi 74 | oSty 1.0, ordinary quality low as 50. Potomac & % | Lima moderate, fint weaker; 100% 103% 108% 06% 964 96, Ble bue bk Onion Demand Light. ‘Nnions—Supplies light; light, market steady; Massachusetts, 100-pound sacks, yellows, U. 8. No. 1, small size, 2.25a2.50, mostly 2.25; Iowa, 100-pound sacks, yellows, U. 8. No. 1, medium to large size, 3.0023.25. Peaches—Supplies heavy; demand demand | W: mmi Pederst.Ammerican Liberty market slightly weaker; | Lin Delaware bushe] baskets, Elbertas, U. 8. No. 1, fair quality and condition, e size, 1.1582.00; small to ; bushel baskets, Hileys and Belles, :I’.“B.bfln.e 1, medium lyi.l.!, 1.5081.75, few best Beiles high as 2.00; small size, 1.00a1.25. Potatoes—Supplies moderate; de- mand light, market slightly weaker; New Jérsey, 150-pound sacks, Cob- blers, U. S. No. 1, mlc;::ly 5.00. ‘Watermelons—sSup} llcht.. ‘market about ngudy: jorth Caro- lina. Tom Watsons, 28-30 pound average, 10875. String Beans Steady. String beans—Supplies moderate; demand moderate, market about steady; Eah Shors s el hamper ima beans—Supplies heavy; demand shel 1.75a2.00; A liberal; demand ht, market ; Maryland and Vir- early various varieties, bushel U. 8. No. 1, 23 inches up, 1.50a2.00; few best Wealthys and Sum- mer Rambos high as 2.25. DRY GOODS QUIET. NEW YORK, August 9 (8] ) — Cotton goods markets were quiet today. Print cloths were quoted un at 714 for 64x60s and 8% for 28, Raw silks were quiet and ADMITTED TO TRADING. YOI A 9 (P)- A A0 e four for one split- to trading on the on a when- ‘Third Ave adf 1 36 36 36 Tol Tr L&P5%830 12 99% 98% 98% 92% 9214 2 West Maryland 4s. West Md 6%s ‘77 Western Pacifie ‘Weat Bhore é8°63. ¢ and Vi » | R ‘medium size, 1.00a1.25, few high as | A Bank of Bethesda. Commerce vi Securit; ht; demand Firemen’ National Union’". TITLE INSURANCE. ot bia Titl a Title & Inv. Wash. Cons. Unlisted Department. "BONDS. It ... 4. L g i AUQUST 9. 1929. AGE OF INDUSTRY | IN NATION HAILED Golden Era of Advance in Science and Invention Mark Present Day. BY JOHN F. SINCLAIR. NEW YORK, August 9 (£).—R. W. McNeel, financial writer, believes the United States is in the Golden Age of stock value. For the last five years the Nation has been in the Golden Age of industry, because as much has been accomplished during that period as in centuries before. ‘There have been Golden Ages in the past—those of Art, Territorial Adventure and Letters—Michelangelo, Columbus and Shakespsare all made their im- mortal contributions to these three periods. ‘Who stands out in this Golden Age of economic, industrial and commercial progress? ‘There is the Rockefeller of a generation ago, and the Henry Ford of today. No other country has ex- panded and developed the Golden Age of business as has the United States. It may be Edison who will be recog- nized In future ages in the same way Michelangelo was in the Age of Art. aMrvels on Science. Progress along these lines eclipses anything recorded in bygone_ centuries. We have the telephone, the radio, the automobile, the airplane and now tele- vision. A man in Australia can both hear and see what his brother on the other side of the world is doing at the moment the action occurs. With light- ning speed the events of the world ere recorded in the press a few minutes after they occur. How long this period of tremendous expansion will last no one knows. The activi General Electric and the American Telephone & Telegraph Co. on the stock exchange in recent weeks reflects the part these concerns have had in the Electrical Age. Chemistry, too, has played a large part, and chemical stocks are showing it in their feverish gyrations on the market. ‘The end is not yet. Swope’s New Post. Gerard Swope, president of General Electric, has been added to the board of directors of the powerful National City Bank of New York. Both Charles E. Mitchell, president of the National City Bank, and Mr. Swope began their careers with Western Electric in Chicago. When Mr. Mitchell became assistant manager in Chicago, Mr. Swope was in charge of the St. Louis office. When Mr. Mitchell decided to reorganize the handling of the company's products, Mr. Swope gave him every support, and it was a real success. They became personal as well as business friends. So they join hands again on the board of directors of America's largest bank. Mr. Swope was born in St. Louis, is a graduate of the Massachusetts Insti- tute of Technology, chairman of the International General Electric Co., and a director of the Italian Superpower Corporation, the Radio Corporation of America and the National Broadcast- ing Co. Insolvencies and Trade. ‘The erduced number of mercantile insolvencies during the first half of 1929 proves -definitely the improved trade situation within this period. ‘The number of such defaults for the second quarter is not only less than in the preceding three months, but is less than for the corresponding period of last year. Liabilities also show a reduc- tion for- important sections of the country. In three full months of the second uarter there were 5,685 mercantile ‘aflures in the United States, with lia- bilities of $107,860,328, as against 6,487 similar defaults during the first quar- ter, involving indebtedness of $124,- 268,608. ‘There were 1,510 insolvencies of man- ufacturing concerns in_the second quarter, as against 1,415 during the same period of the preceding year. ‘The best showing for the country is in the West, including the Pacific Coast States. The South Central States also make a satisfactory showing; there is likewise a small reduction in the num- ber of failures in the New England di- vision and in the section embracing the five North Central States. ‘The New England States, the Middle Atlantic and the mountain division all show a substantial increase in indebted- ness for the second quarter of this year. Four-fifths of the banking failures during the second quarter of the year were in_the South and in the six Central Western States. Nearly two- thirds of the liabilities were confined to_these sections also. B The situation in Nebraska, Georgia and Florida is acute just now, due to numerous bank failures. First Mortgage Loans Fair Rates of Interest J. LEO KOLB 923 N. Y. Ave. Dis. 5027 Money to Loan first deed :l trust en real estate. '..-g:: b 5 inte: and commissl Joseph T Weller G2 7535 5§ Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life [ns, Ce. 1520 K Street National 0478 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’ Cheques 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 | INSURANCE COMPANY OF AMERIC) FINANCIAL. DIVIDENDS. NEW YORK, August 9 (#).— Regular Pe- Pay- Hldrs. of Company. te. riod. able. Brach (EJ) Gt fraE s B | Federat T8 Frelailoe : us grlllh 5¢ B B, Nip o 0t o A .75 Do B... 7% ot 6% Lord & Tl; 2o Ludlow Mfg Assoc..$2.60 Meteor M -50c Do Plymouth 0c Roach (Hal) Stud pf..50c Stromb-C Tel Mfr. 5¢ Wilcox & G Sew M Woodward Iron. 3 £8000PDODOOOOOODOODDE Aug 15 Aug 6 Sep 1 Aug20 INITIAL, N ¥ Transit new...40c — Oct 15 Sep 20 Aliled M Indus Federal Lt & Trac. ORDERS LOCOMOTIVES. NEW YORK, August 9 (#).—The Texas & Pacific Railway has placed an order for 15 oll-burning locomotives with the Lima Locomotive Works. "#% TO THE POLICYHOLDERS OF THE PRUDENTIAL Oct 10 Aug 20 Q Oct 18ep 13 A NOTICE i bercby gi of the polcyhokders”of INSURANCE "COMPA will be beld at the Home Office of said Com- gaoz,in the Gity of Newark, New Jersy nndny‘ the Second day of December, 1929, twelve o'clock noom, for the rurfion of select ing four persons to be voted for by the poliey- holders’ Trustees as members of the Board of 1 cle at the aunual election of Directors «f the day of January At such meeting eves corporation who is of the age of twerty-one years or upwards and whose policy has been in urul:dur At least one' year last p!flblhl" be eBtitied to €nst one Vota i persur o by proxys EDWARD D DUFFIELD, Prendens, 1930. policyholder of the ‘ompauy to be Leld on the Thirteeutl | Enjoy Safe and Steady Income — Guaranty_Pirst Mortgage Notes and Bon recom- mended to investors beczuse of their safety and steady yield. They are secured by first” mortgages on homes and essential business prop- erties universally as among the are protected b Gur 33,400,000 resources. 6% 6% 1t you have money for in- vestment you might just as weil enjoy “the safety and n° these s and bonds offer. They are non-speculative and are not affected by stock fuctua- Denominations from $250 up REALESTATE MORTGAGE & GUARARTY CorRPORATION Capital Resources $3,400,000 24 JACKSON PLACE Consult Us Regarding Your Maturing Mortgage LONG-TERM REAL ESTATE LOANS 5Y2% Homes, Apartments ‘We Mske First Mortgages on and Business Properties in th strict of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Decatur 3600 Mcrtgage Loan Correspondent, New York Life Insurance Company Equitable Co-Operative Bldg. Ass'n WALTER 8. 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No investor in our 6% FIRST MORTGAGES —covering a period of over a third of a century—has ever lost a dollar of principal or interest. MORTGAGES ITSELF 925 15th St. N.W.