Evening Star Newspaper, September 10, 1929, Page 11

i 9 T Wnahinglmp Ticker” " By the Associated Press. ‘With a visible balance of trade in America’s favor of $385,905,353 recorded for the first seven months of this year, Commerce Department officials FINANCIAL, 'EVENING STAR, WAS are confident that the 1929 foreign BONDS IRREGULAR | Lo = BONDS e ) | ATIONAL INCONE | IN QUIET MARKET = GRONS STEADLY 2575 e Convertible List Reflects Re-| US3%s 4 Return of $745 Per Capita szt o action in Stocks—U. S. Is Shown ifi ECONOMIC | too, the Nation may-expect & continis: A veal, 27a28; | | CompPLETE FINANCING Meats— Bee! lza;'nb, 26a30; pork loins, 85; fresh hams, | POULTRY RECEIPTS |58 S5k e 12a13. Pan Amer Pete u:l“l Tl':' oo T o] Paramount 68 1947, § 93 3 101% 101% Ist & 2nd TRUST M(_)NEY apartment and business properties. No appraisal UNITED STATES. { Fruit and Vegetable Review. The daily market report on fruits and vegetables (compiled by the Market | News Service Bureau of Agricultural Ec:x;,trm!cs) says: 98% 96 6% 105% 108% 105% 804 88% 88k 96 9ok 96 9% 90h 9L 273 273 273 95% 95 Fruit and Vegetablé Offerings Also Plentiful at D. C. 9725 9723 10025 10030 100 082 I H 106 22 106 22 tion of “good times” for business and too, the Nation may expect a continua- Issues Steady. BY CHARLES F. SPEARE. Bpectal Dispatch to The Star. NEW YORK, September 10.—The bond market ran about the same course today as in recent sesslons. There was {rregularity in convertibles, a slight forward movement in some of the high-grade corporation bonds, steadiness in Governnfents and a few soft spots in the list of foreign dollar issues. Trading was on a moderate scale and has heen one-third less recently than when the big transactions in telephone convertibles dominated the situation. American Telephoie and Internation- al Telephone 4!3s were both off over 2 points, and about 15 points below their high record prices. Other stock issues which showed declines were Atchison 4'4s, Public Service of N. J. 41,, Alleghany Corporation 5s and New Haven 6s. American I. G. Chemical 51.s, after Monday's drop of 63 gumtl. recovered nearly all their loss. A slightly better tone existed in the high-grade mortgage issues, wth life insurance companies back in the mar- ket for rails and public utilities to a greater extent than for some weeks. Throughout the summer they have been showing a preference for real estate mortgages, as have the savings banks, but yields on taxable bonds have now dropped to a level where the insurance companies are disposed to average down the cost of former pur- chases. This is the season of the year when, if there is to be a demand for good bonds, it should begin to show itself in the market. The rubber and tire, sugar, coal, pa- per, iron and steel and tobacco mort- gage and debenture issues, all of which are quoted at unusually high yields, showed the effect of adverse conditions in some Instances and of neglect in others, because of the present prefers ence for common stocks. A few German issues made slight gains. Although they have had an extensive decline they are still selling at fairly high prices compared with the returns on German internal obli- gations now being floated. Some of the best cities of Germany have been bor- ;o\\?ng this Summer on a 10 per cent asis. The day produced a larger volume of new bonds and preferred stock offerings than since the end of August. Practi- cally all had some kind of feature, which eventually would translate them into common stock. POTATO MARKET. CHICAGO, September 10 (#).— (United States Department of Agricul- ture) . —Potatoes—Receipts, 110 cars; on track, 224 cars; total U. S. shipments. 637 cars; trading just fair, market stronger; Wisconsin sacked round whites, 2.75a3.00; Minnesota sacked round whites, 2.65a2.90; sacked early Ohios, 2.40a2.60; Idaho sacked rus- sets, 3.75. Gasoline Price Reduced. NEW YORK, September 10 (#).— Effective tomorrow, the Standard Oil Co. of New York will reduce the price of gasoline 1 cent a gallon in the metropolitan district of New York City, making the new price 15 cents in tan wagons and 17 cents at service sta- tions, excluding the 2-cent State tax. Washington S'tock Exchange R SALES. ‘Washington Gas 6s B—$200 at 103. 4 6 s62. 236 107 FOREIGN. Sales. High. Low. Close. Argentine 68 S 9L 8L Argentiue 6 L9 9% rgenti; Oct sy 9 98N rgentine May '61. 1 $9% Argentine 5%8'62.. 15 92 6 100 99 98% 984 9% 98 984 86 Belgium 8s. Bolivia 7s ¢ Bolivia 8s Bordeaux Brasil 6%s Brazll 6% Con Pow Japan 7s. . Copenhagep 4%s 53 Copenhagen bs ct Cuba 5%, Czecho 8s 1951, Czecho 8s 1952, Denmark 4%s Denmark 5%s '65 Denmark 6s... DEI6%s Nov 53 Dutch East I 6s 47. Dutch East 1 6s 62, El Salvador 8 Fiat 7s x war Finland § Finland s Finland 7 Framerican 7% s. French 7%s. German Bank 6s German El P 634s. . German 7s. Ger Gen Elec 7s. Greek 68 1963, Hungary 7%s. .. Irish Free State 5 Italy 7s.... Italian Pub 8 7s, iamneuo s apanese 6%s. . 30 100% ! Kreuger&Toll 6s ct.166 102 Lyons 6s. Mex 451904 asnd Montevideo 7s. Netherlands 6s 72.. New So Wales 58. . Nord 6%s. . Norway 6s 1944 Norway 5s 1963 Norway 5%s. Norway 65 1943.... Norway 6%s 1952, , Orient dev 538 68., Paris-Ly-Med 6 i Washington Rwy. & Elec. 46—$1,000 at 8434, Capifal Traction Co.—6 at 93%. Potomac Electric 5% % pfd—b at 108%. |5 wns};}ngton Rwy. & Elec. pfd—1 at 97%2. Riggs National Bank—2 at 610. Title & Inv. Co. of Md. com.—5 at 33. Chevy Chase Dairy pfd.—2 at 107, Mergenthaler Linotype—20 at 1043, 10 at 1043, 10 at 104%. Peoples Drug Stores pfd.—5 at 117. Rtxfll Estate Mtge. & Guar. pfd.—80 at 738, AFTER CALL. National Mtge. & Inv. pfd.—100 at 4%, 100 at 4%3. Capital Traction 55—$2,000 at 95. D. C. Paper Mfg. 55—$2,000 at 90. Columbia Sand & Gr. pfd.—10 at 88. Merchants’ Transfer & Storage pfd.—15 at 107. Potomac Electric 532 % pfd—1 at 106%. Bid and Asked Prices. BONDS. Amer. Tel. & Telga. 4% & Telsa. 414 Pot. >. & P. Tel. of Vi Capital Traction City & Suburban 55 Georgetown Gas lst 5t Potomac Elec. cons. Potomac Elec. 65 1953 Wash. Wash. Gas 6s. series B ‘Wash. Rwy. & Elec. 4 MISCELLANEOUS. Barber & Ross, Inc., 6'% 5 Cham.-vanblt Hotel 81z 3] ‘Wash. Cons. Title 6s. NATIONAL BANK. "I National Capital. Columbia, Liberty Lincoln Nation: American Security & Trus Continental Trust erchants’ Bank . Netlonal Savings & Union Trust. Washington Loan & Potomac .. Security Savi Seventh_Streef Tnited States ‘Washington M American Corcoran emen’ National Union’ TITLE INSURANCE. Columbia 'Title. . Real Estate Title. Title & Inv. of Wash. Cons. Title © 'MISOELLANEOUS. rber & Ross, Inc., com. Bhevy Chase Dairy b Col. Sand & Gravel pf 1al Natl. Co. pfd.. & EScEsegnge N Y Edison 68 44 I 5 Sao Paulo 1950, Saxon (PW) 78 7842..... Serbs Cr Slav Shinyetsu 6348 63 Soissol 6s, Tokio 5% 1961 Utd Kingm 5%s Utd MISCELLANEOUS. Abram&Strausb5%s 1 111 111 Alleghany Cp Alleghany §s 49 AmSmit&R Am Sugar Ref .o 11 102% 102% Am T&T cv 4% s 30.1470 210% 207 + 10 102% 102% 21 102% 101% 106% Atlantic Refin Bell Tel Pa bs B, Bethlehm Stl pm §s Beth Steel rf 6s. 17 Beth Steel 5% 53 Bethlehem Steel 6s. 14 Bklyn Edison 6 Certain-Td 6%srcta & Duquesne 4%8 67.. 28 East Cuba Sug-7%s 9 Fisk Rub 8s. 4 Goodyear 6s rets... Hoe & Co 6%s Humble O11 b: Humble O & R 6%s. 111 Bell Tel s 11l Steel 4% 16 3 20 3 S Toi 101w Tob 1 4 103% 108 lol” L 98 954 984 Sot ro Nitrate 65. 20 99 93 93y Ligget&Myers 6851 1 100% 100% 100% Lorlillard 6%s..... 4 85 85 85 Lorillard (P) 78... 9 107% 107 107 LouGas& K853, 21 101 100 100% Manati Sugar7%s. 2 81 81 81 2 1004 1000 1008 % 100 1004 5 97 97 97 2 9% T9% T9% 46 96% 96 96 2 104% 104% 204% 28 101% 101% 101% o 2 11% 111% 111% 0 97% 9T 9T% 6 107 108 8 110% 110% 110 2 9 8% 99 Nat Tube 1st. % Stand Ol N ¥ 4% 2 Tenn Cop 68 B'44.. 29 ‘Tenn Elec Pow 68 4% 7 Transcontl Oll 6%s 3 United Drug 68 3., 13 U 8 Rub 18t rf b8, 16 USRub7%s...... 11 USSteel826s..... 48 Utah Pow & Lt 6s. . Utilities Powr 5148 26 Vertientes Sug 7s.. 1 Warner Sug 7s41.. 10 West Elec bs....... Westn Union 58 61. Westn Union 6%4s., White Eagle O 53 . Willys-Ov 6%s 33, ., Wilson & Co 1si Youngstn S & T bs. 32 MYy 8% 9% 101% % 92 9% wi 1 101% 101 93% 110 104 102% 109% 07% HU 76 102 5 101% 101 108 101% 101% 4 9% 100 RAILROAD. Ann Arbor 4s. Atchison adj 96% 9B 99 101 9% 924 894 105 100% 1014 100% 83y 108 108% 102% 109% 9% 89% 76 101 100% 100% 108 101 101% 929 1 72% - 2% 6 BBl bW 5 91% 90% « 166 161 19 92 10 21 n u5 -~ B&Orf imp B &OPLEW B& O SW 65560 Brooklyn Elev Bklyn Man Can Nat 4% Can Nat 43%s 57, Can Nat 4148 68. Can Nor 7s. . Can Pac deb 4 Can Pac 4%s 46. s = PR TP P ' Chi & Alton 3% s Chi B&Q gen 45 5. Chi&E 111 gn 58 61.. 17 Chi Gt West 45 59.. 18 5 85 CMSP&Pac adj5s03 100 037 o Sounuran~eSeBoantoons au-tanu-Bemo~racbBe~aShe~an D Rio G West 5s, Erfe 15t cons 4 Erie conv 4s Erfe conv 4: Erie Gen 4 Erie cv b Erfe conv Ex Fla East C 68 Fonda J&G 4% Gr Trunk st db Grand Trunk 7 Gt Nor 438 76 D. » ® Lake Shore 4s 31 Lehi Val en 4; LehiVgen 4% 3 Lehigh Valley 6s 20 - - 3 PP CT TIPS RS PSR- e 22 2ALA, o Z O 52 com Nor Pac 3 2047. Nor Pac 48 Nor Pac 5s D. Ore Short L rf 4 gr‘ ‘Wash 1st 4. 4 3 - BN AR oA B0 ———— 3 Bao carmaabiic KRBBSR RN IANSS Tex Ark FS 538 50 7 Texas & Pacifie 1st. Tex & Pac6sC79.. 83 'Third Ave ref 4s 60. 16 Third Aveadj5s... 1 TolStL& W4s50. 1 Tol Tr L&P 538 30. 97 100 102 1084 91 vl 90 9% 93% 9248 111% 81% 98 96 100 1568 91% 96% 99y 102 107% 20 100 £9% 944 894 9% 2% 9215 111% 51t 97% 96 100 Survey. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, September 10.—In the tariff struggle about to be enacted by Congress, “big business” seems to be less concerned than at any time in generation. Has business had a chang: of heart or is this new attitude—so sul prising to many—due to certain eco- nomic features which do not seem (0 show on the surface? 3 The “pauper wage levels in Europe argument has duly resurrected to ustify a higher tariff. But the wage {lfll to manufacturers in the United States has been rapidly dropping. They were able to get along with 400,000 fewer men in 1927 than in 1923, re- ducing their wage bill by $160,000,000. Then industry has made substantial savings by using less labor and more machines and power. Profits have not been decreasing in the face of “foreign auper labor.” i Ogle group of 403 manufacturing and mining corporations combined with a still larger group increased profits be- tween 1923 and 1928 by 64 per cent. Our export trade last year was greater than. any year since 1920, But imports into the United States have been drop- ping steadily since 1927. At present the ‘Argerican market is 96.16 per cent sup- ld by domestic manufacturers; back ?n 1014 it was 95.8 per cent. So the foreign manufacturer has m:d: n& 11'0: crease yet in the home market. ul the cgntrury—rehuvel)'. they have sufl%eldm America is outdistancing Eu- rope, in its share of forelgn trade with Australia and Latin ~America. In every instance, America’s share of trade has substantially grown. Even in the very strongholds of America’s _chief rivals, Germany, Great Britain, France and Italy, the United States has in- creased its share of imports into these untries. 4 cowhh labor cost shrinking, output greater than ever, profits mounting, the home market over 96 per cent in the hands of domestic manufacturers, and exports _ rapidly _increasing—perhaps here we have the answer why “big busi- ness” in the manufacturing field is not s0 concerned as it once was with tariff walls. But what of agriculture? That is another story. Prof. Morris A. Copeland, in recent economic changes in the United States, says the total realized income in the United States for 1928 was $745 per capita, with paper profits excluded. Since 1914 our national income has s increased. From $35,600,000,- ‘that year it rose to $65,900,000, 000 in 1919; in 1920 it was $74,000,000, 000; in 1921 and 1922, yes;‘!ul:ldl%p;;sl; ion, it showed decreases, bu ;umped again to $74,300,000,000, rising still further to $89,000,000,000 last year. But when we divide this amount into the number of people in the United States, $745 per capita is nothing to brag about. Nobody could live on that. Where will the money for food, clothin shelter, doctors’ bills, etc., come from We are prosperious in the but how about the millions duals who are not able to buy a new suit of clothes, much less a new car, every year? What can the “equal divi- sion” propagandists say to this? Agriculture has fared the worst of all. The proportion of income going to agriculture over a 13-year period has decreased 3 per cent. This is due in part to increasing industrialization and ly to & chn.ngeculln the relative re- ration of agriculture. m‘:‘\l‘! after all, what is income? How does it differ from profit? 1t is a Hnrd matter to separate “earned” from “un- income for purposes of taxa- tempt to appraise the 2 enrS8 900000000 There is an $8,000,000, “realized” and d income is like swork. ifference between m “cash” income. Real counting chickens before they hatch. It may or may not be what it is esti- mls’:gh estimates then must be taken with & grain of salt. Motor busses are not having every- (mn‘u:.heir own way either. They have roblems, too. memu s on motor coaches have been increasing steadily for years until now the average annual total taxes against motor coaches are almost twice as much as_they were in 1924. There is no uniformity in the assess- ment of registration fees. The so-called pecial” taxes have increased not only in number, but in amount. All States now have & gasoline tax, and in only nine of them is the tax as low as 2 cents & En, or less. The general trend appears to be toward a maximum tax of 5 cents per gallon. One tate now has (or will have) a 6 cents tax. Gasoline taxes amount to 45 per cent of the average annual taxes paid on_motor coaches. The increasing amount of taxes is bad enough, but when the States have no uniformity of method in taxing, the motor coach officials are kept con- stantly on pins and needles wondering what will happen next. The States can't regarding the basis on which & motor coach shall be taxed. Should they be taxed upon the “wear and tear” on the highway, weieht. size, kind of tires, or what? Nobody seems to know. It is one grand guessing game. The problem is becoming more acute, too, now that the railways are running motor coach lines. What “reasonable taxes” in the motor bus field are prob- ably never will be agreed upon. Still. that’s nothing unusual. Taxes, {from the beginning of time, have always been pald “under protest.” For s sclentific tax plan has yet to be formulated. The number and sizes of investment trust and finance companies is increas- ing apace. During the last few weeks several new, gigantic finance companies, with assets of $100.000,000 or more, have astonished the financial world. ‘The public has been so eager to buy their stocks that they soon have a mar- ket quotation 50 to 200 ver cent higher than the liquidating value of their as- sets. ‘This looks like nothing more nor less than a creation of values in hundreds of millions of dollars. What will be the effect of such artificial inflation upon industry, in the opinion of Assistant Secretary Klein, who is probably the |. most expert analyst of commercial con- ditions in the Government. Dr. Klein characterizes the exports as “America’s prosperity balance,” although they only constitute 10 per cent of the Nation's production. Foreign trade is the stabilized which fills up the gaps in the business struc- ture,” the Assistant Secretary said. “If export trade booms it helps us to be prosperous. If it should lag times might not be so good.” An analysis of the latest foreign trade figures, published by the Com- merce Department, presents a most in- teresting picture of American and world industry. In the seven-month ear the two continents of Asla and South America, rich with natural resources and huge agricultural producers, were the only two of the siX “grand divisions” of the world to show greater imports into the United States than in purchases of American goods— and the ymports were practically all raw materials and agricultural products. In Europe a half billion dollars’ worth more of American goods was sold over that continent’s products shipped into this country and_in the rest of North America, Oceania®and Africa American exports topped imports. ‘The principal feature of the de- partment’s report was the gain of ap: proximately $88,000,000 over the first seven months in 1928, in this Nation’s exports to South America, most of the increase having been recorded in the second quarter of this year since the preinauguration ‘“good will” tour of President Hoover through that conti- nent. While the exports increased s mendously, South American imports in to this country likewise showed a sharp rise of $38,000,000. Among the South American nations’ trade figures, Amer- ican Government officials gained the greatest satisfaction from the rather phenomenal increase of $31,000,000 in the exports to -Argentina over last year. This gain was recorded in the face of Stiff competition from other nations, especially from Great Britain, which now has a commercial mission touring that country. Brazil, Chile and Vent zuela also recorded large gains in pur- chase of American goods, ranging from $10,000,000 to $17,000,000 for the seven months. For the other continents Asia re- corded an important increase over the last year's period in imports of $53.- 000,000, mostly from Japan, which sold $40,000,000 worth more of her products in this country. Canada bought $76,- 000,000 more of American products, but her sales in this country likewise i creased by $19,000,000. Germany sho ed a decrease of $24,000,000 in Ameri- can purchases. but her sales here gain- ed $26,000,000. Canada and Great Britain were the best customers to American industry, each buying approx- imately a half billion dollars’ worth of In an analysis of America's foreign commerce, which is to be published in the near future, experts of the Cham- ber of Commerce of the United States have made a number of startling finds. The most interesting is that in the first half of this year “automobile parts and accessories led all other exports and for the first time in our foreign trade his- tory, king cotton has been relegated to | second place after an undisputed lead- ership since the civil war.” Finished manufactures constituted more than half of the exports, according to the chamber's survey, and in this category of goods 97 per cent of the exports’ in- crease over the same period of last year was recorded. Increased shipments of machinery, automobiles and iron and stcel manufactures were said by the chamber’s experts to be largely respon- sible for the gain. A 30 per cent gain also was noted in crude foodstuffs exports, with corn and apples registering the principal in- creases. Apples showed an increase of 269 per cent, while corn gained 95 per cent. A 10 per cent decline in crude materials was due almost entirely to a 13.9 per cent falling off in unmanufac- tuerd cotton. The imports into the United States, the chamber reported, were the largest in recent years, ex- cept in 1925, when high prices prevail- ed for crude rubber. Raw silk, sugar, furs, wool, tin, copper, cotton, gasoline and meats figured promimently in the increased imports. ‘That its acquisition of the Mobile & Ohio Rallroad Co. was before the enactment of the Clayton anti-trust act is an_argument advanced by the Southern Railway Co. in a motion filed with the Interstate Commerce Com- mission seeking the dismissal of the commission’s complaint that the road was illegally acquired. The Southern claims that the acquisition was made in 1901, “many years before the Clay- ton act was enacted and said act is not retroactive.” The commission has taken the motion under advisement. ‘In regard to another line, the New Orleans & Northeastern Railroad Co., also named in the complaint, the Southern said that the former carrier was “a necessary feeder line” to the other competing roads in the South- ern territory and therefore should be’ excepted from the provisions of the Clayton act. ‘The utilization of a pension plan for the retirement of aged employes has become to be realized by many American employes as essential to the efficient and econbmic operation of their business, a survey just made by the Chamber of Commerce of the United States says. The chamber re- mfled that its survey showed aprox- ately 80,000 retired employes are now receiving pensions from almost 500 in- ported that its survey showed approx- dustrial and business establishments which employ aboyt four million work- ers. It added that 10 States so far have enacted old-age pension legisla- tion, while the legislatures of more than 20 other States considered similar pro- posals at their sessions this year. PARIS BOURSE PRICES. | PARIS, September 10 (#).—Price g:dnnges were irregular on the Bourse lay. ‘Three per cent rentes, 76 franés 50 centimes. Five per cent loan, 104 francs 65 centimes. Exchange on London, 123 francs 89% centimes. The dollar was guoted at 25 francs 56 centimes. Invest in v First Trust Notes Yielding 6% Interest Money to Loan on Real Estate J. LEO KOLB 923 NEW YORK AVENUE DISTRICT 8037 Consult Us First If i‘w need money for mflr h:ll Estate filililnl%ll' us have application today. i Prompt Service No 'lp:dul Feo Market. Fairly heavy .receipts of poultry— chickens, ducks, geese and keats and a few turkeys—proved interesting to re- tailers and wholesalers thsi morning. Supplies were fully equal to the demand, with a fair quantity to hold over until tomorrow, dealers reported, and prices, they stated, were fairly reasonable. Commission merchants continued to have attractive displays of fruits and vegetables, the more attractive of the fruits being received from the West. Persian melons, honeydews and canta- loupes received from the West, and peaches, apples and cantaloupes, prod- ucts of growers in nearby Stateg, were plentiful. Country Line Overstocked. Many of the peaches offered this morning were from storage plants, hav- ing been put away when the market was overstocked. They sold around $2 and $2.50 a- bushel, while choice stock of Pennsylvania fruit, freshly gathered, brought $3. Dealers had small quantities of White Heath peaches, choicest of the cling variety, from Virginia. They are used chiefly for sweet pickling, according to dealers, and found ready sale at $3 a bushel. Cantaloupes from Colorado sold from $1.25 to $1.50 a crate, some soft ones selling as low as $1. An overstocking of the country Lne section of the wholesale market w reported this morning. Receipts of to- matoes, stringless beans, eggplant, pep- pers and other vegetables were heavy, while haulers also had plentiful supplies of cantaloupes of splendid quality and :r {;w watermelons to offer the retad ade. . Commission merchants and country haulers had quantities of several veg- etables used for pickling purposes tu offer at fairly reasonable prices. The list included cauliflower at $2.50 and $3 a crate, New York cucumbers at $2 & bushel, small white onions at $3.50 per 100 pounds, peppers at 50 cents a bushel and numerous other varieties of veg- etables. A continued firm condition of the butter and egg market was reported. Strictly fresh eggs are by no means plentiful, dealers stated, and consumers are willingly paylng fancy prices for em. Business this morning was reported fairly brisk after a slow day yesterday, Monday usually being quiet in the local market. Today's Wholesale Prices—Jobbers'. Prices Slightly Higher. Butter—One-pound prints, 461224714 ; tub, 4528561 ; store packed, 30a32. Hennery, 43a45; fresh selected, 38a40; current receipts, 36. Poultry, alive—Turkeys, hens, 35; toms, 33; Spring chickens, large, 32a33; medium, 30; small, 30; Leghorns, 26a 27; fowls, 29a30; Leghorn fowls, 22a23; roosters, 22; ducks, 15a20; keats, young, 60a70; old, 35a40. Dressed—Turkey: 38a40: Spring chickens, large, 38ad0; medium, 37a38; small, 35a36; Leghorns, FIRST TRUST NOTES A sure and fair return with safets and security for your savings. Call for particulars. ' Thos. E. Jarrell Co. Realtors. 721 10th Street N.W. National 0765 First Trust Notes at 6% interest for sale at par and accrued iInterest Tyler and Rutherford, Inc. 1520 K Street National 0475 THE IDEAL INVESTMENT .~ “Trusteed Shares” An_actual” owgership in the com- cks B Y00 leading American T ‘The’orig#al investment increased in ket las over from May, 1928,- to July, 1829, and received dividends fo_ e complete year end- ed July, 1! © the Tate of S%. moj C fered by dard Collateral Sha Corporation Metropolitan 3783 Woodward Blde. Investment Service GreeeT & Co. BANKERS INVESTMENT BUILDING WASHINGTON, D.C. Telephone, National 2460 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 upplies liberal; demand light, market dull; bushel baskets, Vir- T;lé U. 8. No. 1, 2% inches up, Grimes, | 5. (Cabbage—Supplies moderate; demand mederate, market steady; New York, gfls-‘}nund sacks, domestic round type, Cantaloupes—Supplies liberal; demand moderate, market dull; Colorado, pink meats, jumbos, 85 and 9s, 1.00; stan- dard flats, 125 and 15s, pink meats, 1.00a1.15. ~ Miscellaneous melons—Sup- plies moderate; demand light, market weak; California, Imperial Valley, Honey | Dews, crates, all sizes, best, 1.50; ripe, 1.25; Persian melons, jumbos, 3s to 5s,| 2.25a2.50; standards, 4s to 6s, 1.50a2.00; ripe, 1.25; ponys, 5s to 8s, 1.50a1.75. Celery—Supplies light; dsmand mod- erate, market steady. New York, 2 ||| crates early varieties, 2.50. Lettuce—Suplies of Western stock moderate; demand moderate, market steady. California and Colorado crates Iceberg type, 4-5 dozen, 4.00a4.50; fair quality and condition, 3.50a3.75. New York, 2-Dozen crates big Boston type sest, 75¢; fair quality and condition, 50c. | |/ Onions—Supplies moderate; demand | light, market steady. ‘York, 100 pound sacks, Yellows U. S. No. 1, medi- um to large size, 2.25. Peaches—Supplies moderate; demand moderate, market steady. Pennsylvania, bushel baskets, Elbertas, 2V4-inch mini- mum U. S. No. 1, 2.50a3.00, ripe, 2.00a 2.25. Virginia bushel baskets Elbertas, U. S. No. 1, medium to large size, 2.50, few higher, overripe, 1.50a2.00, bushel- bask=ts Belles, U. 8. No. 1, storage stock, small size, few sales, 1.50a2.00. New fee. Prompt service. Real Estate Mortgage & Guaranty Corp. 24 Jackson Place Natl. 1403 IS First Mortgage Loans Applications Invited at Current Rates Of Interest Glover & Flather 1508 H St. N.W. National 1753 Jersey bushel basket Hales, U. S. No. 1, large size, 2.50a2.75; bushel baskets Elbertas, U. S. No. 1, medium to large size, 2.25a2.50; slack pack, 1.75. Pears—Supplies light; demand light. market steady. New York, practically no supplies on market. California and Oregon, boxes, Bartletts, medium to h!rgs size fancy mostly 4.00, few, 3.75 | 24.00. < | AMERICAN FOUNDERS CORPORATION Potatoes—Supplies moderate; demand | fl%dcratnamarlfiz about stead, Maine, (Business Orpanized 1922) -pound sacks, Cobblers, U. 8. No. 11745, ivania, 150 : COMMON STOCK Bweet Potatoes—Supplits moderate; demand slow, market weak; East Shore Virginia, cloth top, barrels, yellows, No. 1, 3.5024.00; mostly 3.50. Grapes—Supplies light; demand mod- erate, market about steady; Delaware, | 2-gt. climax baskets, Concords, 16al17. String Beans — Supplies liberal; de- mand moderate, market about steady; Norfolk section, Virginia bushel hamp- ers, Green 75a1.00, few best, 1.2 Lima Beans — Supplies liberal mand moderate, market about steady. East Shore Maryland, bushel hampers, best, 1.75, fair quality, 1.25a1.50. Peas—Supplies light; demand mod- erate, market steady: Colorado, 45-Ib. crates, Telephones, 5.00.. ‘Tomatoes — Supplies moderate; de- mand moderate, market steady; nearby Maryland, :-bushel hampers, 50a75. | UNITED FOUNDERS BOUGHT SOLD QUOTED Mackubir, Goodrich & Co. Bankers Established 1899 INVESTMENT BUILDING 85ih & K Sts. ‘Washingten, D. C. Natlonal 3373 Money to Loan Secnred by first deed of trust on real estate | Prevailing Interest and cof Joseph 1. Weller ‘,,’,"‘:";,'*:I; El [nvestments that withstand the test of time Now, more than ever before, you should seek investments with those attributes which insure their safety and cheir profit possibilitiesinthe years to come. You can find such an invest- ment discussed in 2 booklet ‘e have just prepared. Send for copy “P-43" Protected Investments — se- cured by mortgages on conserv- atively appraised property—the highest type of security known, offering sureness of income with safety of principal. & ) As an additional safeguard the Unideen 3 615% Mortgage Bonds of the Federal Security & Mortgage DETWILER & CoO. ’ Company bear a $5,000,000.00 INCORPORATED guarantee. Finming- Engissering-Masogrmessof Pablic Urilicies Federal Secur'ty‘ l T ononeits, Mo nes || € Mortgage Co. Rewno Rochere ™ AL T 1522 K Street NW. amford Pittsburg WilkesBarre Pottaville Paterson WE TAKE PLEASURE IN ANNOUNCING THAT MR. FREDERICK S. LEE 1S NOW ASSOCIATED WITH OUR WASHINGTON OFFICE W. W. LANAHAN & Co. BANKERS Members New York & Baltimore Stock Exchanges Associate Member New York Curb Exchange HILL BUILDING 17th & I Streets N.W. F. B. KEECH & COMPANY Members of New Orleans Cotton Exchange Liverpool Cotton Exchange, Ltd. (Assoc. Members) Bremen Cotton Exchange (Assoc. Members) Winnipeg Grain Exchange New York Cotton Exchange Chigago Board of Trade N. Y. Coffee & Sugar Exchange, Ine, Rubber Exchange of N. Y., Inc. New York Stock Exchange Washington Stock Exchange New York Curb Market Chicago Stock Exchange CoTTON / Special attention given to spinners’ requirements and the execition of orders for Future Delivery on all Cotton Exchanges of the world. . Our Cotton Department is directed by Edward M. Weld and Bulkeley L. Wells, formerly partners of Stephen M. ‘Weld & Co. J. W. Ray and J. B. Gordon, crop reporters covering the entire cotton belt, now also exclusively serve the clients of this department. We maintain direct private wires to all markets. H CORNER 17TH ST., N. W, WASHINGTON NEW YORK 2 % 1, 85% 86% 85K 1 101% 101% 101% 5 9% 95 95, 2101 101 101 2 4% % % 93 2k 98 WADE H. COOPER, President Capital, $1,000,000.00 & 100% 99 100 PHILADELFPHIA rrOVIDENCE Nor States Pow 6s. 104% 104% 104% PacificGas& El6s. 9 102 101% 1013% PaoT&Tistbs. ... 7 201% 101% 201% wak &F