Evening Star Newspaper, October 14, 1929, Page 13

F Msney to Loan rast on estate. 8 o nl i Jouph eller 8% For Lease HStreetN.W. Between 14th and 15th Sts. Modern First Commercial Business Property 49 Feet Front Brodie & Colbert, Inc. 1702 Eye St. National 8875 HEALTH | i | i | INANCIAL. TRADINGISQUET AT D. C. MARKET} = Supplies of Fruits and Vege- |or tables Reported Plentiful by Dealers. “Blue Monday,” of a wholesale merchant in the com- ,mlsslon house district this morning, | pointing to the almost complete ab- sence from that section of shoppers. “This morning’s business i worse | than the average Monday business.” he ! ndded, “today being the Jewish holiday of Yom Kippur, the hondny playing an important part in business.” While customers were scarce, accord- ng to dealers, there were plentiful sup- pllfl of frults and vegetables to offer the retail trade. Fruits of all varieties were plentiful and plentiful supplies of most varieties | of vegetables also were on hand. Dis- plays of fruits continued as attractive as last week's displays, while dealers had increased varieties of some veg- etables. Vegetable Prices. Lima beans, product of the Eastern Shore of Maryland, were more plentiful { and cheaper, but the pods were not so | well filled. They were reported in splen- did condition for so late in the season. | however, and were offercd around $3.25 and $3.50 a bushel basket. ‘Tomatoes from the surrounding coun- try were fairly plantiful, selling at 75 {cents and $1 for 2-peck ets. The dem-nd for them was lessened by the ipt of hrg ?unnutle: of the veg- euble from California. Thirty-pound boxes of the California product were |quoted at from $1.75 to $2.25 eight- | pound boxes of the hothouse “product | selling from $1.25 to $1.75. Anjous, Bartletts, Seckels and Clargo's were the varieties of pears to claim | attention of buyers this morning. Prices iranged from $3 to Dealers had plantiful supplies of efer pears to offer at prices ranging from 50 cents to $1 a bushel. Conditions in the meat, poultry, but- ter and egg markets this morning also were exceptionally quiet. Poultry deal- ers cleaned up much of last week's sup- They had plenty of stock to ca ry over for today's market, however, to offer at prices quoted at the close of A. T. & T. EARNINGS GAIN IN FIRST THREE QUARTERS NZW YORK chbl‘r 14.—Net earn- ings of the American Telephone & jegraph Co. for the first nine months nl t.hr year was reported y at $120,826,934, equal to $9.24 a share on 13,080,587 shares, the average number of $104,517,387, or $8.09 a share on 11,491,476 shares in the same 1028 period. Net income for the third quarter was $40,624,838, or $3.08 a share, against $39,555,017, or $3.03 a share in the pre- ceding quartér and $35,845,618, or $3.12 & share on the smaller capitalization in was the observation lhe same 1023 quarter. Gross earnings for the first nine months !otlled ll” 960,370, compared with $171,724,990 ter 8. Gifford an- President nounced that another “substantial re- duction” in toll and long distance rates would be made on January 1. TOBACCO GROWERS MAY SEEK U. S. AID Returns From Crops Said to Be Less Than Produc- tion Cosfs. Epecial Dispatch to the Star. DANVILLE, Va. October 14—The coming week is destined to be a critical one in the tobacco industry of the Old ‘B!lt of Virginia and North Carolina. Unless there is a substantial increase in prices for the raw product, now be- low costs of production, the farmers will sfnd a deputation to Washintgon in the hope of being permitted to place their grievances directly before Presi- dent Hoover. Senator Simmons of North Carolina already has promised to see President Hoover and try to arrange the interview, The view here is that the President will not turn his back on the growers. Various conflicting views are being aired as to the tobacco situation. The growers' complaint is that they have produced a crop of unusually fine qual- ity which, because of the crop failures in the lower belts, should be in heavy demand and paid for liberally. Senti- ment against the old auction system, through which the farmer, instead of placing & price on his product, is com- pelled to receive what the buyers will give him, is being steadily generated. | outstanding. ‘This compares with net | STOCK PRICE INDEX REGISTERS GAINS Values Increase in Week, but Volume of Trading Declines. BY IRVING FISHER. Special Dispatch to the Star. NEW HAVEN, Conn., October 14.— Stocks moved upward last week but with signs of retarding tempo. Toward the end of the week trading volume de- clined and price advances were re- stricted to & les- sening list of issues, although there was no dearth of scin- tillating individual ascensions. Five of the to- bacco stocks made a total combined advance of 137 points, an average of over 327 a share, following the increase in ciga- rette prices. Five chemical stocks made aver- age gains of ’" » Irving Fisher, share during week. They were Alr Reduction, Allied | Chemical, Columbia Carbon, Union & C., and United States Industrial Alcohol. ‘The price mdex of common indus- trials hu now recovered 13 of the 20 points lost from the peak on Sep- tember 7 to the bottom of the break on_ October 4. Last week 171 out of 225 common industrial issues showed price advance to 23 which receded. ‘The public utilities are now only three index points below their all-time high on September 24, having risen 16 points during the past week. Steels rose 17 index points last week but are 22 points below their high, Oils rose on Tuesday to Within two ints of their September 16 high, ut slid off 214 points during the re- mainder of the week. The compact survey of New York C.|for the préceding week and a 22 per | industrial shares is gnn below in !ndn- um-x ‘There m indexes of The first (lhn'- hlndlnl) rvg!'!- sents all common industrial shares list- ed on the exchange, the Importance of each ':"wck ing to t existence standing. The second index (50 lead- ers) shows the movement of the lnmu lw:u most_heavily during Tist 'eetly this 'Ifil the lhlm in trad- m‘_hpowllrfly wh t 'muh "?u'.m "‘ntl $100 I & sul in represent Ive of stocks in 1926 would nw .mmlnt to if held unchanged since that ‘The “50 leaders” index Shows the result of reinvesting the $100 every week in the market favorites of that week. The last column of the table gives | the rate of return on the week's 50 lenders at current prices. Shares Ou stand’s. 200.7 1970 Market of Leaders. Return. by Irving Pisher.) .. CHECK TOTAL DECLINES. By the Associated Press. Checks drawn on national banks for the week ending October 9 as reported to the Federal Reserve Board totaled $19,912,000,000. This was a decrease of 12 per cent below the total reported cent increase over the amount for the nding week of last year. Xo ng the week ending October 9 checks drawn in the New York Federal reserve district egated $12,804,37 000 against $14,722,256,000 for the pre- ceding week: in the Chicago district, $1,797.654,000 against $2,100, oum and in the San Francisco distric $953,155,000 against $1,047,012,000. The check withdrawal which was recorded for 141 leading cities of the country follows for comparative weeks: ‘Week ending October 9. lll 912,000,000 Preceding week........ 21,628 /000,000 Same week Iast year... wus,ooom SILVER QUOTATIONS. NEW YORK, October 14 (#).—Bar Stock Exchange movements of common silver, 49 Mexican dollars, 36%. PINANCIAL." e!llt chain stores, showed a well above last !‘l'l r-eord. m to the Commerce reported dividend and lnwrut payments 12 per oent -bm e corresponding wnue de(nuued mmnuu of lnl.llnl business firms declined 11 per cent. He sald wholesale prices were stable, l:& l{urelgn trade showed heightened activity. — ik PARIS BOURSE PRICES. refiector of industr! PARIS, October 14 (#).—A heavy tone em:dm' -nu he cited that Q.hhe. mlt,;lpnuued on the Bourse today. Tliree put products was ?Wf' n 17 per cent rentes, 79 francs 30 centimes; Reacching per o',"‘,‘.““ forr™® %" |5 per cent loan, 105 francs 50 centimes. Stk wm mu‘ show- l.‘xchnn.e on London, 123 francs 90's ed more than cent gain, and | centimes. @ The dolln was quoted at 25 wool, cotton lnd Rayon consumption francs 45 centimen, ' remd!d Automobile M‘ueflm “of- —_— en usi a8 & measure of consumer n purchasing. power” aiso_ increased, his Crude 0il Production. statement sald, lnd industrial employ- NEW YORK, October 14 (#).—The d: unnfle of crude oil production lllt week increased 600 barrels to 881,000, TRADE CONDITIONS GOOD, SAYS LAMONT . By the Associated Press. Secretary Lamont said today that business is in & very healthy condition and that it had maintained a high lev_gnlm the nm nine months of l"l SENIOR vs JUNIOR SECURITIES chief requisite . . . and they ¢ selves to the purchase of semior securities. Others invest their funds only where there 18 2 likelihood of increasing their income . . « purchasing junior securities. Convertible securities—those which may be converted 4t will from a senior to a junior se- curity—have become popular during-the last few years with both classes of investors, because in tl are eombined the high factor of safety and the prospect of greater return. The Class A Common Stock of Investment Corporation of North America, which at the present price yields 7%, is senior to, and con- vertible into the Class B Common Stock, share for share. Your inquiry for full information STOCK ‘l&m OFFERED. Nl' 14 «=The -mckholaeu of reeord October 25 the ruln h luhcrll! to additional common Sios ?é”.?&?”fiflfi”"f’.fi n{'u" stock will be used to reul'e $32,152, 'lll o( debentures. REFORT QF CONDITION Security Snvmgp and Commercia! Bank Of Washli < tr Columbis, b i S R R e R RESOURCEN. Loans and discounts .95,488.315 02 245.31 96.918.23 628,108.83 “wanmn intere other expenses -eerueu and anbAld.: e to banks. inc and cashi oulltlnfldlnl il pasavie ‘and Fediscounts 'rom oity of we tm d'bank, do solemnl, the above statement is irue W my knowl 1ie lumbia. llhl:l‘! g‘lfil' o the \m of Subscribet ney asy (Beal.) d%l'a%m e Thss llauu ne el irectors. 'Ws?l_xfiai""'— Mount Vernon S-vmga Bank - Of Washington, i the Distriét O Jachington: Jn he District of ecolms: Correct—Attest: The compeny buyers insist that the value of the crop has been overesti- | {mated and that the farmers do not | apparently understand that price levels are controlled by supply and demand. with the steadily increasing tobacco acreage in Georgia and South Carolina gravldln' a surplus of tobacco, which a8 the effect of holding down its value. ~ The expectation had been that the increased wholesale rate on cigarrettes recently announced would permit of a hllh!r rice scale, but the average on 5 Belt tobacco markets have nmmumd steadily between bare Em. duction costs and slightly under th It 4s conceded that the I)ulkh:‘!7 the is invited, There i. no obliga- tion—ijust mail the coupon. gl the Business Man's Total .. best investment. AMEASSADORs | HEALTH CLUB try ly gets cheaper at this ! season,” remarked 2 dealer, “and heavy receipts mean heavier consumption. “People have hld their fill of chick- ens,” he added, “making the demands slow, possible because they fail to real- !ize that poultry is cheaper than most | meats.” A continued firm condition of the butter and egg markets was reported today, hennery eggs continuing scarce. la lhoulht however, that the hen- nery egg receipts soon will increase, Deseriptive Booklet on Request FOURTEENTH EETS | dealers having received many of the Ao K STR Small eggs, result of frst layings, the i past few days. e P Y W nost commodities todey |'were the same as prices reported at the close of last week’s market. m m mvmm 5 Today’s wholesale prices—jobbers’: Butter—One-pound _prints, 47 o | tub, 46a47; store packed, 30a33. rustee ares TR T Eggs—Hennery, 52a55; fresh selected, n? o .3 ?mmd & 'lnymlgut 0T 48a50; ‘current receipts, 43ad5. Poul;ry. alive—Turkeys, Tl;.su- lard dhtonl Metropolitan 3783 Rove nm sias 13 gamtal PAN [nveeTmeir Bankgrs BOND SALESMEN A high grade investment house has an openmg for two men who, after training, can qualify as salesmen. Edu- cational and character qualifications must measure up to high standards. An unusual opportunity for industrious, ambitious men. i WOODWARD BLDG. WASHINGTON, D. €. A. 8. Goutoen & Company, Woodward Bldg., Washington, D. C.: Send me complete information about Class A Common Stock of Invest- ment Corporation of North America, B B il Di lri:g:’i‘%fl i Reply in your own hand-writing. Give details re- garding education, busines experi- ence and refer- ences. All Replies uu solemnly :mlc o "‘fi and that the best grades are now read, for delivery. This week, it is expected, | * | will reveal whether those grades are to a higher price or if the Old Belt price slump is to contine. toms, REPORT OF CONDITION Leghorns, ad: Held in i Teahorns.. fowle: 33433; roosters. 23 | North Caphol S-vin;m Bank Confidence ducks, 15!";"0 hek“u' 6027 . | Of Wasninwton, in the District of Columbla. | ; CEN. Address, Box 329-Z, Star Office UR liscounts $1,487.009.55 1:539.66 100.00 65.248.77 REPORT OF CONDITION Of the MERCHANTS* BANK & TRUST CO. ©Of Washington, in the District of Columbia, at the close of business on October 4, 1929. i Legho 5. dueks, 28a30; kenu 0290. Meats—Beef, 20a23; lamb, 26a27; pork loins, 32; ., fresh shoulders, 20a23: smoked hams, n-u smoked shoulders, 18a20; lard,.in bulk, 14; in pack- ages, ¢ Live stock—Calves, 15; ambs. 12% 3. Frilt and Vegctable Review. The caf'v market report on_fruits ind veg=tdbles, compiled by the Market j News ce Bureau -of Agricultural | | Economics, (sales to TS exeerm | where othérwise noted), sa | ! wfigplzs—fugpflu nodamz demand market steady, very bushel baskets, The National City Bank of New York including Domestic and Foreign Branches Condensed Statement of Condition as of October 4, 1929 3 3 ouse, * $54.913.00 Bxtures, 318, 3,028.42 24.447.31 ! $8,155.354 82 2,097.3¢ nmav 1,076,240.75 | . Loans and discounts . Overdrafis . United Sta Other bon: tocks and murll.\es owned . Banking house, $140,000; furniture and fixtures, $50,000 . Real estate owned other than banking house ... . Cash and due from ba ~ . Outside checks and other ‘cash ‘tems ... FIRST MORTGAGE NOTES ASSETS Cash in Vault and in Federal Reserve Bank. . . ...$128,862,600.07 Due from Banks. Bankers and U. 8. Treasurer...._225,839,882.73 Loans, mnmmn-ndwmdmm United States Government Bonds and Certificates. . $160,803,872.48 State and Municipal Eonds. . . 12,800,082.00 Stock in Federa! Reserve Bank 6,600,000.00 Other Bonds and Securities..... «._53,497,655.13 Subsidiaries: International Banking Corporation .$ 6.000,000.00 Bank of Haiti, Inc.. 2,000,000.00 Bank Buildings. e CAPITAL, SURPLUS and UNDIVIDED PROFITS $238,516,930.08 85,7776 | saiabe sbaasbshias ov SLOSETINISNY ! . $1,000,000.00 | uaou ‘257]5!5 ,804.5¢8 30121'7” ‘IWMUD 1620732 | ..... tersesestiteintstenanasensass.. . $10,667,064.39 IC' sales , Pennsylvania, U. 8. No. 1, 2%-inch up Grimes, few sales, 1.50; Virginia, n No. 1, 2%-inch up inclassified, 2%-inch .25a1.50; U, 8. No. 1 215 Yorkl mostiy around o % 215-inch up, 1.25a1.50. 8. No. 1, ny, -inch up Staymans, 1.75a | 2.00; 3-inch up, 2.25a2.50. Cabbage—Supplies moderate; demand light, market about steady, sales; New York, 90-pound Danish type, 1.5; Penmylvmn, 100-pound sacks, Dmllh type, ana—mum stock, supplies demand light, market mmy few salés; New York, 2-quart askets Cone cords, Niagaras and Delawares, 18a20. Pennsylvania cartons containing twelve 2-quart climax baskets Concords, 2. Michigan, 12-quart climax baskets Con cords, U. 8. No. 1, 60. Onions—Supplies moderate; demand light, market steady, very few sales; New York, Michigan, Indiana and Ohio, 100-pound sacks yeilows, U. S. No. 1, medium to large size, 2.00a2. ! Potatoes—Supplies liberal light, market slightly stronger; very few sales; New York, 150-pound sacks round whites, U. 8. No. 1, 4.25a4.50. Sweet potatoes—Supplies liberal; d mand light, market dull, very few sales; East Shore Virginia, cloth-top barr yellows, No. 1, 3.25; North Carolina, cloth-top bm-ela yellows, No. 1, best, 3.00; poorer, 2.5i String buns—supyllel light; demand light, market slightly stronger, very few | sales; South Carolina and Norfolk sec- | tion, Virginia, bushel hampers green, 2.0022.25; fair quality and condition, | 1.50. s—Supplies light; demand and Sinpa : . D'in' o banks, ihcliding gl oiistanding B Rime "Geponts Total Columbla, City of Washington, s& B CLENRT sCOATES. casnier of uu named bank. do solemnly swear th | Tha"Siove statement i3, 7Ue to the best B my knowledse and, belief. ENRY COA’ i . Cashier Subscri] d ‘n&d.,' s O‘Gn bf.'ql"l to before me this RN [ROBINSON, e et Notary Public. CLARENCE NOLIN. LIABILITIES. —in convenient denomina- tions, secured by carefully selected, conservatively appraised residental and business properties in the District of Columbia and nearby Maryland. We offer the facilities of a competent organiza- tion eager to counsel you in the profitable placing of your investment funds. +* H. L. Rust Company 1001 15th Street N. W. . Surplus 17. Unl?lvldtd profits—net, . . Reserves for dividends, contingencies, etc. . Due to banks, lnclufll.n[ certified and enh(en checks ollhtlndlu . Demand de . . Time deposits 26. Bills payable and Tediscounts . Other liabilities 233,791,609.61 ibed 8,000,000.00 30,851,879.39 33,427,003.27 152,516,787.53 8,393, il Mllu.idl.dl District of Columbia, ss. I, HARRY J. DONOGHUE, treasurer of the above-named bank, do solemnly swear that the above statement is true to the best of mfigmwlefln and belfef. HARRY J. INOGHUE, Trasurer. Head Office: 55 Wall Street New York Thirty-six Branches in Greater New York Subscribed and sworn to before me this 11th day of Mb!l’ 1929. (Seal.) CHARLES J. JUMP, N PETER A. DRURY, R. E. BOLLING, . J. DRURY, b HARMAN, Jr.; FRANK E. GHISELLI, . LIABILITIES «+.$110,000,000.00 + 110,000,000.00 18,516,930.08 First Mortgage Loans for, 3, 5, and 10 year periods on houses, apartments and busi- neess property in Washington, nearby Maryland and Virginia Randall H. Hagner & Company, Inc. 1321 Conn. Ave. N. Decatur 3600 Mortgage Loan Correspondent New York Life Insurance Co. Capital..o00ees Surplus. ..... $ 238,516,930.08 1,422,356,946.65 258,987,416.57 99,365.00 6,000,000.00 Liahility on Acteptances and ForeignaBill Circulation. . Bills Payable . Reserves for: Dividends, Interest, Taxes and Expenses.......$ 13,679,886.60 Contingencies. . . +..5.584,016.71 Honey Guide in the Hindu Kush 20,263,903.31 $1.946,224,561.61 a1 Above includes figures of Foreign Branches and European Affiliate. One of a caravan pasing through the Hindu Kush suddenly swings his horse out of line to follow a small, plain col- ored bird. The bird stops on a dead tree—and the man runs forward, his mates eagerly pressing after. The bird has led them to a bee tree, . rich in honey, This bird, the “honey guide” of the Himalayas, is a valued and respected friend of all the matives. For in the Hindu Kush, everywhere else, it is often that which is small and unimportant looking that brings greatest reward. Lima beal light, market steady, very few sales; East Shore Maryland, bushel hampers, gznfl .50; poor quality and condition, | Tomatoes—Supplies light; demand | ght, market steady, very few sales; | Maryland, 15-bushel hampers, 1.00, COTTONSEED REPOBT. Cottonseed crushed in the two-month | period, August 1 to September 30, was reported by the Census Bureau today to | have been 610,715 tons, compared with | {495,478 in the same period last year. Cotionseed on hand at mills September 130 totaled 590,747 tons, compared with 567,828 a year ago. City Bank Farmers Trust Company (Affitiated with The National City Bank of New York) Head Office - 22 William Street - New ork Temporary Headguarters - 43 Exchange Place FIFTH AVE. at 41st ST. when we are appointed to the management of your 42nd ST. at MADISON AVE. 181 MONTAGUE ST., BROOKLYN LONDON, 11 WATERLOO PLACE, S. W. 1. In America the sure guide to success is that drab looking item in the glittering array of security prospee- tuses: “Unfailing safety.” Assurance of this factor is what the wise investor looks for always—a proof such as has been made to thousands of investors in the 6% First Mortgage Notes sold through the Swartzell, Rheem & Hensey Company. ‘Through 60 years of panic and pros- perity, war and peace, these notes have paid their regular interest returns to every investor—each payment has been sent out on the day it is due. B SAUL TO. Nat’l 2100 On improved real estateé sit- uated in Washington and its suburbs. he Seventh Street Saving Bank Condensed Statement of Condition as of September 27, 1929 LW 925 15th St. N.W. | 5¢ washington. in the District of Columbia. | 8 e "clost ST pisinesn on’ Getber 4. 1920 RESOURGEA. . Loans and discounts : Gverdrafis ; Onited States Curitics owned . Other bonds stocks and " se- jties d pirjties owned ... ASSETS Cash in Vault and in Federal Reserve Bank. ‘We have first mortgage money to loan for refinanc- ing or construction purposes. You'll find us ready to give immediate assistance. $1,574.707 34 22173 $ 1,200,356.51 60,994,353.39 1,467,000.67 7,444,515.62 13,115,783.54 903,963.37 Just tell us how much you need, a brief autline of the property and its approxi- mate valuation. Investment Service Lowest rate of interest, Digrit o Cotumbie wiias | MORTGAGE & Gnnnm D, JIOWARD. cashier of the e § luburl IBG l'a{%lfl L?‘ll me ‘Ill 2 GreeeT & Co. SANKERS INVESTMENT BUILDING WASHINGTON, D.C. Telephone Nationel 2460 SWARTZELL, RHEFM & HENSEY CO. MORTGAGE BANKERS Capital Resources $ 3,400.000 Trust Service is available through any branch of The National City Ba. 24 JACKSON PLACE - e ity Bank'of New York or m.l: The National City Campany Correct—Attest: L