Evening Star Newspaper, October 15, 1929, Page 13

r—— CURBLIST WAVERS IN HEAVY SELLING FINANCIAL. ln-mmomnmm omuru—mm is a list of stocks and bonds and prices up to and ineluding noon. Sharp Drive Sends Leaders Bl Down, but Volume -Declines. BY JOHN A. CRONE. Special Dispateh to the Star. NEW YORK, October 15.—Reacting from the high levels established short- 1y after the opening, curb prices today continued to move lower at increasing speed until nearly the end of the second hour, when volume declined and prices steadied. Utilities and oils were the outstand- ing leaders in point of volume, with aviation, mining and motor shares pro- viding the weakest spots. Investment trusts were relatively inactive and showed only small changes, Penn Water & Power Co. jumped more tbln 3 _poin pening in Ik:hcl indi- 1 meet here to arrange for development e Harbor Hydro-Electric mz of the Susquehanna River. A e part of the output will be sold to Consolidated Gas & Eleciric Balti- more, whose shares inclined to heavi- ness in early dellln!"s‘r Electric Bond & e, after opening slightly above its previous close, was hammered hnd and at times was down more than points. Several large blocks of m-nn Hudson Power were tossed in the market and temporarily unsettled that issue. Electric Investors reacted. Some of the other high-priced utilities, such as American Foreign Power warrants, American Light & Traction and Standard Power & Light, pointed lower. Community Water Service early reached a record high price. Some of the natural gas stocks met with a fair amount of profit taking. United Gas mmm diary, Dixie Gas & Util- Citles® Service and ln Cosden Ol climbed to new peaks, pects hrou.hz huying into Standard ©Oll of Indiana. Some of the pipe lines, such as Missouri-Kansas, dropped. Roan_Antelope opened lower, follow: ing London cables, which reported Tecent strike as non-productive. Noran. da absorbed selling fairly well. Detroit Aircraft, after opening un- changed at 15, broke 3 points between sales to a new low record. Suhlequent- 3!:" got below 12, Bliss, Irving Af ute and Transcontinental Air ’I‘nm poncei:; the first part of the session ad- Firestone was the outstanding leader of the motor group. Crocker Wheeler pew shares at !.ntervlu were down more n 3 points. Tubize Silk moved wide- by, :ming times as much as 15 Hay and Grain Prices. Wheat—No. 2 red Winter, spot, 1.3 Np. 2 red Winter, garlicky, spot, 1.2715] Ociober delivery, 1. 27%; November 1.88%. Bag lots of nearby, none. Cargoes on grade, none. cam—No. 2 export, October delivery, 3 2 domestic, yellow, b'l 16.00. ample, 1. per ton, 9.00210.00 per ton, 9.00810.00. Special Dispatch to The Star. Md., October 15.—Po- b!fl!l 1 5084.00; 100 BALTIMORE, toes, white, e ushel, 5081.60; ‘hamy earrots, 100, “*‘3.'!' eorn, 20040; lettuce, bluhe 7581.25; lfinl besns, lumper, 1.0081.50; unlons, 100 1.76a3. 00 oat nnw, !lo. , 2.00a3.25; pears, bushel, 84.00; quinces, bushel, 1.5081.75. Dairy Market. alive — !pfln( chickens, 22a24; old hens, umo old roosters, 20a25; zulnel fowls, each, 40a75; Di‘mm pl Receipts, l‘qlzibnouu n':uve current Tre- Rlp",nwfl hennery 'hlwl 52-53 ‘M l.ld xs-w wlh lll m butter, w-u store pu:hd, Live Stock Market. om.b—mmu. 50 M light sup- Py, market steady. Al lfmx zhn!ce to good, 11.25 ln XZZ; Sheep an Mght supply, market lower, sheep, 2.00 to 6.00; lun.hl 6.50 to 1. ceip! eld light sup- hts, 10,60 to 10.90; lpu,boheul light sup- Bly, market steady; eal “ 100‘:7 .—.._,_ COTTON CONSUMPTION. By the Assoclated Press. Cotton eonxumpmm during Septem- ber was announced by the Cens: oml mhh co.-'nmma wm:mw a share len Co tion, & amldluy lied l(ou;rm!ndum , has ired all of the capital lux:l of the tion, wufacturer of 8 Ada: 3ASES Bnery lleghany Gas’ Gorp. od B & L. . 3. s8x8suite, ST 52essnoeeseny=E ey Washington Ticker By the Associated Press. American business is depicted as belng on a firm foundation, with no bugaboo of a depression in the imme- diate offing, in the view of the Federal 3 | Reserve Board, Secretary Lamont of 4| the Commerce Department and a high ‘Treasury official. The report of the Federal Reserve Board showed that the banks of the United States occupied the enviable condition of being major financiers of world trade through the purchase of $1,200,000,000 worth of acceptances, a quarter of a billion dollars greater than those held in the beginning of Fall last year and nearly a half billian more than 43, |in 1927 at that time. The greater por- orp. 3 Bulova w-lcn . 11 Burma G urco 82832258, 2apz¥oneus o o RS Gorroon & R bt A i &roeger W 4 Curtiss- w‘:'x""" A o §=s=g§ SZawietdiig g2 = mECO! BuBme o I i) REE i IS & FE o tuTEs wecunsuEiien. s, ugus, - FEE S fi"f e ~ 3! 58‘1;35*8;5. E e e 8,882 Intercoast Tri {1t Ferfoma T 40¢ § ot =uverr° i utll 3L Interstate Thteratase B3 I{vln X anate tal Bu 3K 8 S 8! N L s e 0000 b S 00 €0 A e b 0 D0 5 A0 00190000 a0 8309891 S i et bR 30: ZrzzzazTEaTa = E g".".' 9! nd £ SRR EH 9y 8010 11t 1t 103 5 00 AR et 1 O 1 .- SRR F Wi o iorBrea i e neu aubu- S5 tion of the increase, according to the board, occurred in dollar acceptances to finance goods stored in or shipped between foreign countries and reflected a growing demand for dollar exchange by such nations, particularly 1!1 South America. M the same time the board's. survey resented American agriculture as in a hble position of promise, with slight- ly higher prices counterbalancing the decrease in the size of crops as com- pared to last vear. “On the basis of production figures and prevailing prices for the principal crops,” the board stated “it would appear that the cash income of farmers from crops for the mm season would be slightly higher last year.” Secretary Lamont in his views on the business situation pictured » high level | o of industrial and commercial activity for the first nine months of this year. He cited in particular that “the output of pig iron and steel ingots, usually re- garded as an accurate reflector of in- dustrial conditions, was more than 17 per cent greater than in the corre- sponding period of 1928.” He added that a further indication of the Nation's business health was found in the de- cline of 11 per cent from 1928 in the amount of defaulted liabilities of de- funct business firms. ‘The business outlook is good and no serious slump is in sight, in the opinion of the other high official, who keeps his finger closely on the Nation's economic pulse. ‘While some industries have slowed down during the Fall, his view was that other lines have continued at high activity and are counterbalanc- ing the slackening. He cited that, while automobile manufacturing has become less active according to usual seasonal conditions, raliroads are keeping up & high rate of activity. ‘Where the demand of the automobile industry for iron and steel products has lessened, it has been counter- balanced by the increased purchases of the railways over the last year and thus the iron and steel industry, a “key” busi- ness of the Nation, has e nenced little slowing up. The coal business, too, has improved over last year, although thege is still room for betterment of its condition in the omcln}l‘ u“opimon ‘Iine b wer of the Nation's popula- W po teriged as keeping up '.u md flu Ilfll:\llt\ll‘lé llb\;lvflnrl:b;flh Was 1ot unfavo) m%wedmpfleu, e agricultural situa- tion, the Federal serve Bodrd, which devoted in its usual atfention to that int the farm credif Pl mt!wwr a few manlhg ago to economic analysts—had made material steps toward improvement and sufficient funds were on hand for the crop move- ment. The bank loans for commercial and agricultural purposes were de- scribed as greater than in the two pre- ceding yelrs with the increase largely reflected in the advances for the mar- keting of wheat and cotton crops, which were moved for sale earlier than in the ?m. ‘The total value of stocks of 14 farm commodities was fixed, according to rtment of Agriculture estimates, at $% whleh was $170,000,000 more than last year and higher than any previous August in the past six y 3 ‘The specter of dang danger to the petro- leum and gasoline industries in the form of “gasoline substitutes”—at any rate, for some time to come—is d! ‘The has disclosed that the Bureau of Standards, one of the Government ucncleu under his jurhdllc‘tlmi wn:u?:t engaged comprehensive ly of such lubsll!:l‘h ‘The Secretary believes that the gaso- line and oil supply for years to come will be furnished by the rich deposits of petroleum in the United States and other papts of the world, although he is a stanch advocate of econservation of the present supply in the United States. But Mr. Lamont feels another source of supply, rich in promise of furnishing the gasoline needs, is ex- istent in the United States in the huge ol shale deposits, particularly in the Rocky Mountain region. Although thé oil shale industry in tha United States t.l prufiully in the %hu in Ecou.::r' und two, when it was adversely affected by tbo low. rlu of peu'oleum ‘The Amer- borrowed to a large exunt me Beott.lsh method of manu- facture of ofl from shale, using the vertical retort and distilling thl oil from the snale. process is greatly | inf similar to the extraction of gas from An_estimate of recoverable ofl from the shale deposiu in the Unued States has been fixed by the Federal Oil Con- servation Board l! 92,000,000,000 bar- rels or nearly 10 times the total quan- tity of well oil _&mduced in thu Na- tion to hest and most 4 | extensive depo'lu are in Western Colo- T ldo, Eastern Utah and Southern has ‘x?‘:ln l:.;ulght into the future of the ust beer. furnished through the experiments of the Bureau of Mines, In the minds of Government officials it of the ofl situation, the shale deposits remain an important reserve for the future, An outstanding increase of 30 per oent greater than August, 1928, in thc United States trade with recorded during that mo.n'-h this year. Despite the umn of a Russian-Chinese Barumens superid 1he. orisfrom Tepo! upo America to that :gr $14,107,000, eomplud to $10,480,000 !or also & gain—of 35 per cent. Imn steel, raw cnmn. machinery, bacco, flour and lumber formed tho major items the incrensed 000,000 at the end of August, | i o] e FPEETE aF FEEF S 5 S & TES W FEREES 85835832500 LE . L BERLE T agagagaads: ZESEP! ~ 5 & 2 £ e e e = 2R ERe T b ] FEEIEF F TS 1 Wendon "Cop. Sales Texon il & Land’u 1 Venezuelan - Pet Sales STANDARD om. lssvls AND FOR- Mits: MEN SURSIDIARIE. STOCRS™ 1 a". 13 16% 1512 18% <307 ;vgh 301 4 19 3 i i :gii i 0,5 cod 100 Srimote S 21 IPL‘ ot 1300 Tt R Ohto Ol =5358 k3 2, e 258! Gk 24 Ao u, q 15 IZA 8im lA:lls Pl’;[' :‘ “ lg on To P& L 98 =g ane: e i erotatr it S (190 999 5332 'mg 5% Ly 295 Fd £ Hog00 SR8 B2 FEESF E FEEEERE 00! 8288 = 3282288 rosbo b 832! TEEFE FFESSINER F IR FEFITESSSY 2esEetissssesea SeiiEe e oS Ezaias [ oy Se. ¥ 33358355e. aagex E8E0n. 2228 558< S o, o1 03 w5 v, FEE 5" * ri £ 285 e 2 EE 3 & 2329 ¥ Sepamyy g iesisessse *F 237 e von e e 25 s cn v B! 1 EESFFRS: 8, 9, S 222228 222! 2545 BF & F R spneegiess FE R ¥ Y8 s 8o 134 Fow S14s A 871 - 0s_Aires s 53.. '3 Caticn Vale s 383 FERF HEE LW 5553 By the Associated Press. NEW YORK, October 15.—The Youngstown Presseq Steel Co,, subsid- iary of the Sharon Steel Hoop Co., is planning extensions and additions to its plant, involving an expenditure of more than half a million dollars. Orders for women’s handbags are sald to be steadil; , With indicating the leyllonumv.olum' uhnd ot lnt. year. th novel :Tén conndcnhh success. A consolidation of four manufacturers of tungsten and molybdenum products fflr the electrical equipment 'n.\nnun Electric Corporation vu announced today. The eomunln Gl Sioduets Co. Fdependent Gon: luc 3 tact Manufacturing Co. Xnumnmm.l Wire Co. and the Precision Metral Prod- ucts Co, All ol !.ha plants are located in Union City, N. J. The Sinclair Consolidated Oil Co. has ordered two 8,400-ton tankers from the Bethlehem shlphufldln( Corpora- tion, a lubsldh.ry the Bethlehem hmlnug: o! the Central mfi’uw tha third qunrm amounted to 81,943, 874, compared with u 160,606 for the :lh.ma period last share on_ the uu"'u shares of com- mon stock, as against 76 cents last year. ——— Firm Plans Expansion, China_was’ o B TIEISES E industry 3, D. €, TUESDAY, OCTOBER 15 1929. TVEGETABLE SUPPLY |BOND MEN HOPEFUL IS PLENTIFUL HERE Florida Cucumbers Shipped to Local Market—Fruit Displays Attractive. Florida growers have come to the ue of local wholesalers with cucumbers, the vegetable having exceptionally scarce the past two ur more weeks. Last week they were so scarce that dealers on the country line were de- manding as much as 10 cents for small ones, but the demand at that price was exceedingly slow. Bushel baskets of the popular vegeta- ble came tp commission merchants from Florida shippers yesterday, primes and seconds, and retailers displayed an un- usual amount of interest in them. Prices ranged from $3.50 to $4.50. Plentiful supplies of tomatoes, home- demand, is looked upon 88 of the best quality. Hothouse receipts, not lo lentiful, sell at higher prices, while the nearby tomatoes continue plem.ltul and cheap, Other Vegetable Supplies. ‘Wholesalers also had plentiful sup- plies of numerous other varieties of vegetables, the list including green to- matoes, okra, onions, Spring radishes, caulifiower, lima beans, carrots, beets, string beans, both varieties of potatoes, m pumpkins and cabbage. They also mppnu of spinach and kale. displays continued attractive, c(sgllel being greater than the demans rado cantaloupes, x‘l‘nk meat, con- tinue plentiful, but demand for them is light. Honeydews continue plentiful and cheap, while there were very few honeyballs h offer fll::ureuu trade this mamln were plentiful md ehelp ll hrooms, much more plentiful, % ted this morning from 50 cents to 81 nnbnhL It- was reported dealers that this morning’s receipts were not IInuuu good condition of last week's Tecelp on oranges, lemons, phuwlea. lu. prunes, plums, persimmons, al pears, grapes, peaches were trade. Dealers this morning reported better trading than was experienced yester- day. They reported continued faivly heavy receipts of poultry, with prices unchanged, while egg and meat prices also were unchanged. & fraction of Butter prices ch&ngd cent, the change not being great enough to affect the retail mrke Today's Wholesale Prices l“n“y Higher. Butter—One-pound prints, 47%;a48 tub, CU%II'IY‘. lmr;.mked 30a32. (Jobbers’ horns, fowls, 22a33; roosters, 22; ducks, 15a20; keats, 60a70; old, 35a40, Dressed—Turkeys, 40a42; Spring chick- large, 37a38. ,lmdlun 35-86 broil- Mm's. prey ts—Beef, veal, 26 9 lamb, 26027 pork ufi& 32 frésn : a23; Basms, 36838: ahoshag o Saors, “Thas0; bacon, 28; lard, In bulk, 14; th pack ages, 15. B lee stock—Calves, 15; lambs, 121 Fruit and Vegetable Review. U. 8. No, 1, 2!, inches 3 rimes, 2.0082.25: Yorks, 1.75; lfiy“p 1. inches ‘up, 2.25; un- upplies moderate; demand ll;htdmrkel weaker; New York, .;)- baskets ttuce—Supplies moderate; demand n:mn o-ummu m , 4-5 dogen, 5. ?:‘g; falr ty and wndman. us. light, mar] 3 New ank. Mich- igan, and Ohio, 100-) neh,.glln U, 8. No. 1, medium to REE R, e moderate, mn{ept 150-pound sacks, rol No. J, 4.50. ; |has Shore_ Viry l«vvl.no.l 3.25. ll(ht.dmnd moden , market steady; Norfolk sece tion Vi ia, bushel ham, fajr g Lima ‘Tomatoes—Supplies 1light; demand mfi. market steady; w“‘a. &?Mflm ham nbut. 1.00; poom‘. CHICAGO LIVE STOCK MARKET GO, chher 15 () (United States Department of Agriculture).— MM‘- 24,000 head, !nclud.lnl direct; market mutlv 10 to mh lnnr w. 10.00; strictly choice; she stock steady with recent advance; best yearl- ivies, 16.10. shulghur medi- 5a8.50; Jow cumr and cutter, looflwlnd choice (bu!). M customers. _Certain OF BETTER TIMES Increased Interest in Divi- dend-Paying Securities En- courages Bankers. BY CHARLES F. SPEARE. Speclal Dispatch to the Star. QUEBEC, October 15.—The back- ground of the eighteenth annual con- vcndnn of ghe Investment Bankers' Mnochtlan. which is getting down to business today, is quite different from that in any other year. The 1000 representatives of bond originatin, dl.l‘rlbuunl houses in all parts o mc United States have come here hoping to find encouragement for a better trade in investment securities than they have had since they were at Atlantic Oity “|in 1928. They are deeply conseious that times and fashion have changed and me competitive lwm” be permanent instead of mm Since the last convention bonds have gone out of style among investors, There were clear symptoms of the movement away from fixed interest issues and into equities last October. Few then, however, foresaw the extent to which the investment business .was to dislocated by the strong preference of the public for common stocks of cor- porations, for bonds with convertible privileges and for the shares of invest- ment trusts and trading corporatiohs. See Hopeful Turn. Nor did. some of the men who had spent g lifetime in buying and selling bonds believe it possible ¢ within 12 months they would be divoreing them- selves from this activity and joining organizations whose tradé mark was the stock certificate. During this period the market for bond salesmen has be- come as glutted as that for used cars. What the bond men who are now swarming in’ Quebec want to find out in the next few days is whether they in & business that may go the way cottons and woolens when silk and became popular, or whether there 18 & chance for a renaissance in the lnvutment market that will them in to reéapture their old k. giving th d = ll‘l: l’?“t week are g them a degree of hope thlfi they have not had before this 'l'hr.u signs first appeared after the stock market collapsed week before last. They took the form of a demand for high-grade railroad and public utility bonds and for municipal issues. The extent of the decline in the much loited “b.e chip” shares jolted the ugln more than any of the other re- Mluml of the year, including that in March. It set it thinking about paper fgmflu that remained and the advisabil- ¥ of getting these before they had dis- ed. ""-R‘J evidence from bond houses is that nmy speculators who had been the most volatile s suddenly hzclme super-conservative and began to buy municipal bonds. Some even bought Unmd States Government securities. Others went back to the best of the first mortgage railroad and Bommietcly wbandoned. since. 1936 and completely abandon ce 1929, and with it their old dexterity in cutting coupons. Decline in Money Rates. , due to the new ocau- by the_unexpected dec! n’m ‘Though brokers' loans held up Pond market looks for | O! guidance to time money. Given a almuan in vhh;h the buyer of securities has begun to discriminate more carefully between those that go up and down like a jumping jack and give very small return and others that move somewhat laboriously, but permit the holder a peaceful night's rest, and, more comfortable m;:e 0 estal disturbing feature in the m& the 'Rubuc may be wnn back to ey continue to advance, and | | again toward tlul mumy may stiffen high again ) the end of t.\:elmnthnur on the a) Texas corpora- tion of which t.ha umamnu ‘were 10 t, the ln‘lut oversub- lu'xptlontolnyuko kind of bond in months. Another was the §10,200,000 issue of New York Central equipment trust certificates whl.ch. in Wall o5 factor of common | pec rmit | to MWM“! lhm hmlt M V small German o i wmmmdms"mmvem carrying since early Summer have been movml hands of the and out into the consumer. Al"ll.hl Stimulants. There is an idea that artificial mnu- lants have been given to the mukecmdcutmmhhen ministered after the Quebec conference has adjourned and the dehntu Te- turn to their desks. What has taken place so far has been m& a natural e point of yer of securities, plus a logical decline m the rates for time money. Both may be umwnry‘ ‘The only thing that can be said from the delegate's point of view is that he has had the first encouragemen NEW YORK COTTON. NEW YORK, Oclober 15 (#).—Cot- ton opened steady today at an advance of 1 point to & decline ol 1 point. There was a fair valume of business but orders seemed to be evenly divided with traders evwenuy finding no inspiration in the ruling, while the census report on do- mel':xg cmumpuon was about as ex- Southern selling and some local liqui- dation sent prices off to 18.17 for De- cember and 18.36 for March during the early trading, or about 2 to 4 pelnl.s net lown'. but Wwas enough cover- f or trade buying to hold the market rly h;um at The census report showed domestic consumption of 545,649 bales for Sep- tember, compared with §58,113 for Au- gust and 492,307 for September last year. Liverpool cables reported hedging liquidation in Liverpool and said thll the cotton cloth market in Manchester ‘was quieter with moderate sales of both cloth and yarns. —— GRAIN MARKET. CHICAGO, October 15 (#).—With crop complaints numerous from Argen- 1 rl.ll{ £ dows mr:'}'-c'l"hn.eq iy ten lown, subsequent upward. Provisions we (Xm Uncertainties of '.he Amm ‘Wwheat crop were emphasized today by frost reports from Cordnh‘ and Buenos Aires provinces, and unfavorable field ad- vices from and Santa Fe dis« tricts. Liverpool stocks of wheat were end of the first | QU STOCK SPLIT EDICT IS HELD SIGNIFICANT Decision of Massachusetts Commis- sion in Edison Company Case Causes Comment. BY GEORGE T. HUGHES. Special Dispatch to the Stan NEW YORK, October 15.—Partly be- cause it came out over the double holi- day and partly because it appeared to have at first reading, at least, only local significance, the decision of the Massa- e e T \the w the me of the Mwl:;m lhot?lc Tumi-~ nating Co. of Boston did not receive the attention it deserved. n Boston '.hn stock broke badly yes- ‘The decision did not come out r the close on Friday, but the stock had reacted 15 points late in that session and had closed at 360. It sold down yesterday to 300 for a loss of 60 points and fluctuated around that level thereafter. The Massachusetts commission made fle‘nl points in its decision. One was reduce the par value of the awck would “encouun the belief in minds of many innocen thnt it is the forerunner of substantial increases in dividends, with the conse- §t8 very high price without the! being realized. Any attempt to change the par value of this stock, in our opinion, should be left until the selling price on the Boston Stock mhnce mlo};‘ nearly approximates its v Seldom has an official body attempted Iarb?.l': upl\:‘n ‘t;l. nl:lfion l:ll' nrhG p Talue in spol Buiside Sieervers Tate.said e Same y times in oonneotlvn wlm ion to protect the investor unique. More to be expected was the comment concerning rates. Charges of the Moq Edison for service compared, the opine ion stated, unfavorably with those of other companies in the State. The | periy given byt mar ven by utility stocks would lud themselves conunwully for Dadk yeax or L. The Bos stre outside the limlts to Whlchprfifi‘:mdfld!m itself referred. This s not the place to go tato the merits of the ruling on this particula: increasing and were predicted to con- | 2P tinue !o‘i-'nvenl mg One estimate | 10€, today put the present remaining Argentine exportable wheat nu-plu! tronbflént n;; crop as high as 56,~ to press the selling side of the market. Belrhh news was regarded quite generally as fully discounted. Speetal Dispatch to The Star. Shaes. LYNN, Mass., yernacular, went out of the window. (&g, The market for !otel(n bands which been in doldrums for over a ‘This BOOKLET together with CIRCULAR ex- plains. fully how YOU can share in DIVI. DENDS, INTEREST and PROFITS on 100 diversi- fied security issues—with ONE Investment! we.It contains clear facts show- ing how this successful Inve: ment trust is earning worth- while profits for thousands of investors. ««.You, too, can profit. Mail the coupon NOW MARLOW-BEECH CORP, 1732 Conn. Ave, Pot. 6167 Washingten, D. C. Please send without cost or obll- sation to me your booklet ex- plaining how I can share in profits of your Investment Trust. . NAME toviiertasninenssnnnnnnies AdAress .....cesicennrceseseansee First Mortgage Loans Applications Invited at Current Rates of Interest Glover & Flather 1508 H St. N.W. National 1753 F. B. KEECH parable cases. “ o R S ' ‘The volume of business beoked hm its for Real Estate Loans Applications invited at lowest rates and commission —econom- ical comsideration for borrowers. Both large and small loans mnegatiated— prompt replies. Inc, Moore &Hill, (Since 1900) 730 17th Street N.W. 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 Admlnhtr-!or, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE B COOPER, President Capital, $1,000,000.00 & COMPANY We maintain complete departments and private wires for the execution of orders in COTTON GRAIN COFFEE SUGAR RUBBER H CORNER 17TH ST., N. W., WASHINGTON NEW YORK