Evening Star Newspaper, November 21, 1929, Page 12

TURKEY SUPPLIES | CONTINUE: LARGE| Other Poultry Re_ceipts Are Heavy at D. C. Market. Oysters Plentiful. Very little other than “turkey talk” was heard in the wholesale market district this morning. There was not a single dealer who advanced any in- formation other than that prices for the Thanksgiving holiday season are certain to be cheap. “Some few top stock probably will bring fancy price suggested a dealer, “but such prices will prevail to a very limited extent.” Most dealers continued to predict a 45 and 50 cent retail market next week, wholesale prices today covering a wide range. While most predictions were for a 45 to 50 cents market, it was suggested in some quarters that prices may go even lower. Coops of turkeys were piled high in the wholesale district this morning, trucks from Maryland and Virginia, many from the Shenandoah Valley of Virginia, being very much in evidence. Poultry Receipts Heavy. “There is more dressing being done here this season than usual” said a dealer, “due to continued warm weather, and receipt of so many live turkeys makes it appear that receipts are much heavier than they really are, “They are heavy enough, however.” he added “and there is no possibility of anything like a shortage.” Receipts of chickens, du and keats also were very heavy thi norning. It d that because of probable cheap prices many raisers have decided to hold back their turkeys for later in the sea- son, but the additional feeding, accord- ing to dealers, will mean so much that higher prices later on will not result in raisers getting more pay for their work. Rabbits also continued plentiful and cheap. They are not in great demand, however, and many continue to be re ceived in such poor condition that th have to be condemned. A slight east of the market on hennery eggs was reported, receipts being slightly heavier. Butter and meat prices continued with- out change. Commission merchants had supplies of shipped-in vegetables, chiefly from Florida, to attract atten- tion, while along the farmers’ line deal- ers had large supplies of vegetables from rearby. It is confidently expected by dealers in marine products that they will get their share of the Thanksgiving holiday trade, fish and oysters usually being in demand during such season. Opysters today were in plentiful sup- ply and of the best quality, dealers re- ported, but fish were not especially lentiful, although receipts were as eavy as the demands. * Oyster prices continued the same as | prices quoted the past few weeks, $2.50 | a gallon for selects and $2.25 a gallon for standards. Barrel stock, also plenti- ful, according to size and quality, sold from $6 to $13 a barrel. Recent closing of the season for fresh salmon, halibut and swordfish had re- sulted in receipt of supplies of the frozen fish of the three varieties. Sword usually the most expensive fish offered here, was quoted at 50 cents a pound this morning. salmon selling at 30 and halibut at 25 cents a pound. Other Fish Receipts. Spanish mackerel, product of Florida waters, and Boston mackerel, received from the ciy whose name they bear, were offered at 25 cents a pound. White fish and blue pike, from the Great Lakes, received from Sandusky, Ohio, packers, claimed attention of buy- ers, the former selling at 30 and the latter at 15 and 20 cents a pound. Trout were reported very scare, the large ones selling at 30 and the small ones at 15 cents, while rockfish, also anything but plentiful, were quoted at 25 and 30 cents. A few Yellu'l perch, catfish and eels were supplied by Poto- mac River netters. White catfish and yellow perch were offered at 10 cents, the black catfish, not much in demand, selling at 5 cents. Green shrimp was quoted at 30 cents a pound, the cooked shrimp bringing 50 cents. Crab meat was scarce at $4 a gallon. Lobsters were quoted at 65 cents a pound, the lobster meat from CHAPTER XIL How to Interpret Pool Activities. (In the concluding article of his series the pool wanager makes a brief for his profession, but frankiy warns his readers as to what he is up against when he enters the mar- ket. He lays down the rules and offérs his advice in the hope, he says, of creating a better under- standing between the operator and the pubdlic.) ‘The October smash of the stock mar- ket ended the 1926-1929 bull market. Any apparent revival of activity will rprove illusory and short lived. The “boom" is definitely, conclusively, com- pletely dead. After a number of ! months there may be a new bull mar- |ket. I believe so, for business condi- tions are sound, and many stocks are growing in value. But the new move- ment will not come until the foundation of the stock market is rebuilt on solid ground. And by “solid ground,” I at prices which represent actual in- | vestment values, and, stocks must again be placed in the hands of genuine in- vestors. During the reorganization eriod pools will be comparatively inactive. Speculative interest in the market on a large scale will be suspended. But the pools and large speculators will “come to life” and renew their activ- ities many months before there will again be renewed speculation on the {part of the “outside public.” Just as the bears came to life many months before the October “wind-up” of the old bull market. And I am now in a position to give my readers a_ ‘“good tip.” I can tell them now, as I could not have told before October, the first| stocks which the pools will select for | itheir renewed operations—when the | time comes for the new bull market to get_under way. ‘The pools wiil first select stocks which yield & fair retwn in dividends on the cost, and which have undoubted pros- pects of higher dividends from increas- ing earnings; in other words, the stocks which will lead the advance will be con- servative investment stocks. Later in the history of the new bull market other factors will rule. As wise men receive the increment of their fore- sight. in buying stocks - at low prices, less wise.men will be drawn into quick and easy profits. And the pools Will then cater to this public, as at the beginning of the movement they will cater to Stock buyers with more knowledge and less enthusiasm. These Stooks Will Advance. In the next bull market, as in the last and all previous bull markets on record, the largest “winners” and the ment will be the people who buy and hold good stocks when they are avail- able at prices which represent solid in- vestment values, And these are the stocks the big speculative pools will first buy and first advance in the market—when the right time comes. This “tip” is airtight: follow it and you will make money in the stock market. “Ah,” T hear many readers say, “but how can we select the good stocks?” And I must reply: “Ah, that's the point. To make money as an investor fish, | OF & speculator you must know invest- ment values. If you do not understand how to invest money do not attempt to speculate. People who expect to make money in securities on hopes and guess-work may be ‘lucky’ for a while, when boom conditions prevail as in’| 1927 and 1928. But'in the long run most of them lose.” This is not to say that it is impos- sible to correctly interpret pool activiti and the longer speculative movements of the stock market. Pool operations are of great interest both to. experienced and successful speculators and to ex- perienced and successful investors. Without pools and speculation there could be no active markets for stocks or anything else, and neither specula- tive profits nor investment increment could be realized in cash when needed. Further, the activity of pools supplies one of the most reliable indices of “the way the winds of business are blowing.” But this activity means nothing to the man who is not in position to accurately estimate the investment value of the stocks in which the pools are “working.” ‘When pools are active in good stocks selling at prices in direct relationship to values on the basis of dividend re- WALL STREET POOLS BY A POOL MANAGER, AS TOLD TO JAMES ABELLE. mean that stocks must again be sold | to: the market in the hope of collecting 3 permanent beneficiaries of the move- | % THE EVENI speculative activities. Speculation is just as necessary to wealth and prosperity as is investment and just as intelligent for people who know what they are doing and how to do it. As a practical matter of , it is difficult at any time to draw a hard and fast line between speculative and investment trading in stocks. In periods of rapid expansion of trade and industry it is impossible to make this distinction. The two ac- tivities are inseparably connected and to understand one we must understand lh;'gther. e real difference between s - lation and investment lies at all ‘t’lencl':s in the intention of the shareholder, and is never clearer than the mind of the shareholder. The United States is al- ready a nation of shareholders; if we are to become a nation of wise in- vestors we must forego our romantic conception of speculators and spscu- lative interests, and make our analysis of stocks in the light of the same basic realities which influence the minds of the powerful market opera- TS. In conclusion, I can do no better than to express my conviction that your in- terests, the interest of all the stock- holders of American corporations and the interests of men in Wall Street are identical. Only one possible ground of difficulty lles betwen us; perhaps at times we understand you somewhat bet- ter than you understand us., I hope that this series of articles will in some small measure aid in lessening this difficulty in the future. And I thank you. (Copyright, 1929, by Current News Features, ne PARIS BOURSE PRICES. PARIS, November 21 (#).—Price changes were irregular on the Bourse today. ‘Three per_cent rentes, 80 francs 70 centimes, Five per cent loan, 105 francs. Exchange on London, 123 francs 88 centimes. The dollar was quoted at 25 francs 403 centime: TREASURY CERTIFICATES. pEORLI 3 & W Sugae b oy 4%as Dec. 15, 1920 . 1001-32 1003-32° Dec . 100 100 FOREIGN EXCHANGE. Veme (o pan S Tk | S8 y® adrid, peset: vienna,' s udapest, pengo. Prague, crown (no . zloty. rown NG STAR Stockholm, crown Bargain Prices for the 1 Day Only to Close Out All Odd Lots Floor Samples Ete. Is Clean-up Day at the Wright Co.! WASHINGTON, FOREIGN DOLLAR BOND MARKET IMPROVES Recovery From Recent Lows Noted Following Increase in Stock Values. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, November 21.—A mar- ket episode that was overshadowed by more important events, but which had serfous effects while it lasted and until it was controlled on Monday, was the decline in foreign dollar bonds. For a while there was almost no/ market for South and Central Ameri- can government and provincial obliga- tions and for the municipal and cor- poration issues of Germany. At the| same time bids were wanting in the bonds of the Southeastern European group, which includes several govern- ments and municipalities. Mortgage | bank obligations of various countries | were at extremely large discounts and temporarily unsalable. The weakest issues were those of Brazil, Bolivia, Columbia, Greece, Poland, Serbia, Prussia, Bulgaria and Hungaria, and those of the German agricultural banks and of Brazilian provinces. A group of 25 such bonds showed an average decline of 22 points from the high of the year, with indi- vidual issues down from 15 to 42 points and the entire list indicating shrinkage | - from 15 to 45 per cent. This paralleled the depreciation in some of the most volatile of domestic corporation stocks. The market situations that were most critical and which were represented in the low average of prices for such bonds several days after the low average for Stocks had been reached, had,to do with bonds brought out about 2 years ago when American bankers were combing the entire world for foreign obligations with high coupon rates, though with a degree of security much less than that of the issues soid in this country be- tween 1924 and 1928, Many of these bonds were placed among small banks and with individuals who bought them as speculations and had hoped to realize & quick profit. In the stress of the stock market decline it was necessary +0 unload securities of this type. Houses that had sponsored the issues were, in many cases, not in a position to make FOR RENT One Room, Kitchen, Bath and Reception Rfmm. Electric Re- frigeration. THE ARGONNE 16th & Columbia Rd. D. C, THURSDAY, NOVEMBER 1929. 21, markets for their securities when they ‘were offe to them. So they had to find their own level. Since Monday there has been a sharp advance in many of the bords that were at heavy discounts on that day. Those who have tried to buy them have found almost as much difficulty in getting their orders executed as did the sellers a few days ago. LONDON BANK RATE CUT; MAY BE REDUCED FURTHER | By the ‘Assocated Press. LONDON, November 21.—The bank rate was reduced today from 6 to 5l per cent. Since the discount rate of the United States Federal Reserve Bank recently was lowered, discount rates here have| been sliding, on the assumption that a| lower official minimum would be estab- | lished. The Bank of England has had difficulty in making the 6 per cent rate, imposed October 31, effective. With ‘more funds returning from America, the gold drain into France | checked and the international monetary situation easier, the Bank of England was enabled to give traders the benefit of 1, per cent reduction. However, its gold stock is at present £30,000,000 be- low the level of a year ago. \ The money market anticipated to- day's reduction by discounting bills at low figures and is expecting another re- duction of the official minimum rate in the near future, especially if the American Federal Reserve Bank makes a similar move. PROGRESS You Can Start Your Account With ¢ Payable Monthly 5% Interest Paid on Your Savings Real Estate Loans +On the Monthly Payment Plan Mutual Building Association 306 7th Street S.W. Organized October, 1892 Thomas P. Brown President. Thomas E. Petty Secretary. Income Goes Hand in Hand With FIRST MORTGAGE NOTES | Yielding 6% Return of interest and prin- cipal on our carefully selected and managed investments comes with machine-like regu- larity. = ’ Assured | | | Consult Our Mortgage Dept. SHANNON & LUCHS] 1435 K St. Nat. 2345 BALTIMORE FIRM JOINS KRAFT-PHOENIX CO. Special Dispatch to The Star. BALTIMORE, November 21.— The merger of the Gelfand Manufacturing Co., Inc., with the Kraft-Phoenix Cheese Corporation, with headquarters in Chi- cago, is admitted by officers of ghe local rm. Simon Gelfand, founder and presi- dent of the company, which specializes in the manufacture of mayonnaise and other salad dressings, left yesterday for Chicago to complete details of the amalgamation, which will not be made public until next week. The Gelfand Co. was founded in 1920, growing out of a house-to-house busi- ness conducted from the home of the founder. Its present plant was started in 1924 and has been extensively added to as the business throughout the East and South increased. NEW AIRCRAFT CO. NEW YORK, November 21 (#).—The United Aircraft & Transport Co. has formed the United Airports of Cali- fornia, Inc., with an autherized capital of_2.500.000_sh: CompLeTE FINANCING Ist & 2nd TRUST MONEY On homes, apartment buildings and business properties. No appraisal fee. Prompt service. Real Estate Mortgage & Guaranty Corp. 24 Jackson Place Natl. 1403 REAL ESTATE LOANS Made at Low Interest R. TYLER & RUTHERFORD Advantages incident to direct representation 1520 K St. N.W. National 0475 TRUSTEED SHARES INVESTMENT,_for in. demand — ‘SAl D and .GROWTH B, = funds l:nud lu;m:'“otvo:‘l-nlnlfi;‘v'l.l' Sold in_ Lots—$100.00 Up Call or Write Standard Collateral Shares Corporation Woodward Building. The IDEAL vestors _ who First Mortgage Notes 6% Glover & Flather 1508 H St. N.W. Naticnal 1753 WE have prepared a list of : Common Stocks with estimated earnings per share which we are recommending for investment purchase at this time. The list is avail- able on request. WESTHEIMER & CO. Members New York Stock Exchange Members Baltimore Stock Exchange Members Cincinnati Stock Exchange Members Chicago Board of Trade Ground Floor—Woodward Bldg. Telephone National 5500 GROUP INVESTMENT AND THE INDIVIDUAL THE VERY FAcILITIES that investors, individ- ually, do not have and which are so vitally necessary in safe investment, may be obtained in an investment trust. Such enterprises, in effect, are but groups of persons who have brought together their individual funds, large and small, to get the high degree of safety and pro-rata profit made possible by mass invest- ment under skilled management. If you have a keen desire to invest your money safely and profitably—placing it under special- ized management where the investment pro- gram is based on reliable statistical data—you will be interested in learning about Investment Corporation of North America. Write for letter 11-S which gives full details. e * Invuwunrr Pankers Telephone National 2000 ‘WASHINGTON, D. C. First Mortgage Funds (three years or longer) LOANS on homes, apartments and business buildings, in District of Columbia and nearby suburbs . . . Read Every Item! New Orleans selling at $1.25. Frogs were | turns you may be sure that wise in- Ample funds, lower interest, prompt not so plentiful, Dealers had small | vestors are buying the stocks in the be- valuable shipments of the jumbo frogs to offer around €5 a dozen. Today’s Wholesale Prices—Jobbers® Prices Slightly Higher. Butter—One-pound prints, 43a44; tub, 41a421;; store packed, 30. Eggs—Hennery, 57a58; fresh selected, 85a56; current receipts, 50a52. Poultry, alive—Turkeys, young, 32a33; old toms, 30; Spring chickens, large, 27a28; medium, 25a26; brollers, 30; Leghorns, 23a24; fowls, 26a27; roosters, 18; ducks, 15a20; keats, young, 40a65; old, 30. Dressed—Turkeys, young, 38a 40; old, 37a38; Spring chickens, large, 33a34; medium, 32a33; broilers; 35a36: Toosters, 24a25; ducks, 29230; keats, 70a | 80; capons, 45a50. Meats—Beef, 20a22; veal, 24a28; lamb, 26a27: pork loins, 22a25; fresh hams, 20a22; fresh shoulders, 20a23; smoked hams, 25a26; smoked shoulders, | 18a20: bacon, 28; lard, in bulk, 13; in | packages, 14. | Live stock—Calves, 14%al5; lambs, | 1272213, Fruit and Vegetable Review. The daily market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural Economics (sales to jobbers eexcept where_otherwise noted), says: Apples—Supplies moderate; demand light, market steady; boxes, Washing- ton, medium to large sizes, extra fancy Deficious, 3.75; fancy, 3.50; extra fancy Staymans, 3.25; fancy, 2.50a3.00; bushel baskets, Virginia, U. 8. No. 1, 2% inches up, Yorks, 200; U. 8. No. 1, 215 inches up, Yorks, 1.50a1.65; unclassified, 2% inches up, Staymans, good quality, 1.75; U. §. No. 1, 215 inches up, Staymans, mostly 200; few best. 2.50; Pennsyl- vania, few sales, U. S. No. 1,'2% inches up, Grimes, slightly russeted, 1.25. \%&lgc—suppllrs moderate; demand #2RT, market steady; New York, 100- pound sacks, Danish type, 1.50al.60: South Carolina, barrel crates, approxi- mately 100 pounds net, pointed type, 2.50a2.65. Celery—Supplies moderate; demand ! moderate, market about steady; New | York, % crates, 3.0083.50; California, crates, 6.0026.50. Lettuce—Supplies moderate; demand modcrate, market firm; California, crates, lceberg type, 4-5 dozen, best, 4.0024.50; fair condition, 3.50. Onlons—Supplies light; demand light, market firm; Indiana, 100-pound sacks, yellows, U. 5. No. 1, medium to large Size. 2.00a2.25; some medium size low as 185. Potatoes—Supplies moderate; demand light, market about steady. Pennsyl- vania and New York, 150-pound sacks round Whites U. S, No. 1, 4.25a4.40; some fair quality, 4.00; Maine, 150 pound sacks, Green Mountain, U. S., No. 1, 450; 120-pound sacks Green Mountains, U. 8., No. 1, 3.75. Sweet Potatoes—Supplies light; de- mand light, market steady. E. S, Vir- Einta, clothy top barrels Yellows, No. 1, String beans—Supplies moderate; de- mand light, market steady. South Carolina, bushel hampers green, fair quality, 3.5024.00; poorer low as 1.50; Florida, l,hree-l‘ulrker bushel hampers green, good quality and condition, 4.00; bushel hampers green, good quality and condition, slack pack, 4.00a4.50; ordi- nary quality, 2.25a3.00. cumbers—Supplies very light; few s. Florida, bushel hampers, fancy, 7.00. Sguash—Supplies light; d-mand mod- crate, market steady, Florida, bushel Pmpors, white, w 2.50. - demand e light Florida, pefger, lief that a period of business expansion is under way. When pools are active in other stocks at any price, or in good stocks at inflated prices, you may be sure that the public which is drawn to the market does not include the wise and substantial investors of the country. Pools Supply Stocks Public Demands. In sum, the pools and larger specu- lator's are merchants of stocks, supply- | ing whatever demand may be in evi- | dence. Pools can neither create values nor destroy them. And pools must therefore be judged just as other “mid- dlemen” are judged, by the quality of the merchandise offered. When you know that a stock is a sound invest- ment, to hold, the fact that a pool is operating in that stock i an added attraction. It shows that wealthy in- vestors believe that it is a good time to buy. But if you buy stocks solely because pools are advancing the price in the hope that you can “beat the game,” then I say to you, speaking as a speculator with 20 years' experience in Wall Street, that you rve what you will get. What you will get sooner or later will be another October, 1929. There are only two classes of men who can accurately forecast pool “moves” in stocks. The first class is very limited—it consists of the mem- bers of the pool which is “putting up” the stock. Sometimes, although by no means always, the members of a pool know when the pool manager will bid up prices. But whenever this informa- tion leaks out beyond the circle of pool members, it must be regarded with grave suspicion, as we have seen in pre- vious articles. & The other class of men who can some- times accurately predict “short swing” advances and declines in stocks are the expert “tape readers.” Some of these men, as every one in Wall Street knows, develop amazing ability to “spot” move- ments in stocks, and they profit accord- ingly. But it is even more difficult to get information from these men than from the pools. Their success as traders depends. upon unbroken secrecy. So, if any reader desires to learn the art of forecasting the intermediate speculative movements of stocks, I must advise him either to become a pool member or an expert tape reader. To become a 1 member—of successful pools—the following qualifications are necessary 1. A large “bankroll.” 2. Long and successful financial ex- perience. And to become an ex| the following qualifica sary: 1. A large “bankroll.” 2. Long and successful- financial ex- perience. 3. Genlus. ~ In saying these things I have no hope or desire to decrease legitimate rt tape reader ns are neces- crates, fancy, 3.50a4.00; few express re- 4.50; choice. 2.50. ‘Tomatoes—Supplies light; demand light, market steady; California, lug boxes, ripes and turning, wn{sped. 6x6 l;n;o larger, some fair condition, 3.00 23.50. Caulifiower—Supplies light; demand 1ig) market steady; Long Island crates, 3.40a3.50. Onnges—suzzlun moderate; demand moderate, market firm: Florida, boxes, 3.7504.25; few, 4.50. Tangerines—Supplies light; demand moderate, market steady; Florida, half straps, best, 3.00a3.25; fair condition, 2.00a2.50. pefruit—Supplies light; demand Gri Yight, market steady; Florida, boxes, }'fl.‘ 1, 4.2584.50; No. 2, 3.7584.00. (1)—Reg. $149 3.pe. (1)—Reg. $195 3-pe. slightly soiled ... floor samples . sample .. ....ov00 all sizes ...... Cabinets ... walnue . .. (2)—Reg. Suites, enamel fin Drawers .. nut'finish ....... holstery ... Chairs, 3 styles . = Suite, jucquard upholstery. .. Suite, mohair upholstery; (2)—Reg. $59 Chaise Longues, cre- tonne and damask...... (2)—Reg. $32 Englander Day Beds, (1)—Reg. $65 Englander Day Bed, floor (5)—Reg. $5.98 Twin Link Springs, (14)—Reg. §14.50 Coil Springs, double coils, helical tops; all sizes..... (3)—Reg. $3.75 Priscilla Sewing $1 98 (1)—Reg. $49 Secretary Bookca: BORONY o s issminn ivs (1)—Reg. $24 Spinett Desk, 2.50 Chest of Drawers, walnut finished ............. (1)—Reg. §129 4-piece Bedroom Suite, in T T eI TR IR R TR (1)—Reg. §165 10-pe. Dining Room Suite, ARSBRIRGE s eesisassiaaas (2)—Reg. $35 54-in. Buffet, in walnut (2)—Reg. $22 5.pc. Breakfast (1)—Reg. $45 Mahogany Chest of (2)—Reg. $39 Chifforobes, in wal- $22 50 (1)—Reg. $59 Love Seat, denim up- (2)—Reg. $22.50 Gate-leg Tables, in MENDEANY . oo oo suntasoioesion (17)—Reg. $1.95 and $2.25 Unfinished LOW TERMS ARRANGED ~WRIGHT - 905-907 7th St. N. Overstuffed $59.50 $77.50 $29.50 $22.50 $39 $3.75 $8.95 Overstuffed - $25 RN $19.50 $65 $75 $25 $12.50 o RS $39.50 $14.75 $1.49 Underuriters - Distributors . INVESTMENT SECURITIES WasninetoNn Orrics 737 15th Street N. W, Telephone, National 1053 Maix Orrics - Bartinons We Invite Applications for FIRST TRUST LOANS on Improved Property 0 NEARBY HOK:GO“IIY 0. D T STRI ICT OF COLU f 3, 5 or 10 Years Our keen perception of every possidle contfilev'mcv in the mat- ter of avoiding tedious delay and annoyance is a definite advantage to builders or prospective mort- gagers. DOSIEAEN National 9300 ANI SAFE—SECURE 6Y2% First Mortgage Notes in convenient denominations $100 and up Secured on conservatively ap- praised rgsidential properties (homes) in northwest section of Washington. The notes are not subject to fluctuation and risk of loss is elimi- nated. PHONE OR WRITE US—We will be glad to show the properties on which these notes are secured. McKeever and Goss Realtors 1415 K St. N.W. National 4750 Members Mortgage Bankers Association of America approvals, prepayment privileges—and the competent coun- sel of forty years' experience in this field. e H. L. Rust Company 1001 15th Street N.W. National 8100 ' ESTABLISHED 1889 UNQUESTIONED SAFETY BECAUSE the Bonds of the Federal Security and Mortgage Company are: 1. Secured by small mortgages on properties in the District of Columbia. | 2. Guaranteed by a strong independent Surety Company, with resources of over $5,000,000.00, under State and Government supervision. 3. Further guaranteed by the Federal Security and Mortgage Company, with a capital and surplus of over $750,000.00. 4. Trusteed by a large National Bank. 5. Mortgages appraised by independent experts of known reputation. 6. Legal investment for National Banks and Insurance Companies. Federal Security ¢ Mortgage Co. 15§22 K Street N.W. CAPITAL & SURPLUS OVER $750,000.00