Evening Star Newspaper, December 23, 1929, Page 13

FINANCIA First Mortgage Loans Liwest Rates of Interest and Commission homes J. Fisher & Company. Inc 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.W. Decatur 3600 Mortgage Loan Correspondent . New York Life lusurance Co. “Will accept F. nith Co. preferred stock at reasonable discount, or its first and refunding bonds at par, in exchange for new detached brick home in Chevy Chase, D. C. having 4 bed rooms, 2 baths, bullt-in garage, subject only to first trust of $8,500. Address Box 128-]—Star Office We Buy and Sell Liberty Bonds Treasury Notes Etc. - Bond Department The Washington Loan and i Trust Company 900 F Street 620 17th Street “We Invite Applic-tins for . FIRST TRUST LOANS on Improved Property OK'Gfl-lly €o. ’mmm 'RICT OF COLUMBIA periods ot 3 8 or 10 Tears _Bossmm ELPS | PR 1417 K St FIRST MORTGAGE NOTES —in convenient denomina- tions, secuired 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. National 8100 Eetablished 1889 To Succeed—Save We know of no better way to lay a foundation of financial independence than to invest one's savings in sound ' interest - producing GUARANTY NOTES and BONDS. Send for our booklet—The Success Plan iy Notes and red o and 000 be Monthly Capital Resources $3,400,000 || | Pétomac Electric cons. IBOND PRICES DROP INQUIET MARKET Foreign Group Moves Against | Trend—Junior Rails Under Pressure. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, December 323. prices ranged lower again today. Sellln! for cash to strengthen ac- | counts in the stock market, liquidation | to show losses on income tax returns, some selling through unwillingness to carry commitments over the holiday period, and a slight stiffening of money rates were the factors responsible for the losses. The only strength was in the for- eign department, where South Amer- |ican issues were higher. Volume was not heavy and the high- grade tvpes of investments were very quiet. remaining either unchanged or & fraction lower. Baltimore & Ohio first 4s, Union Pacific first 4s, Amer- ican Telephone 515, Standard Oll of New York 4';s and Standard Oil of New Jersey 5s dropped slightly. Junior Rails. Wider declines were the rule among the junior issues of the railroads. Chi- cago and Eastern Illinois 55 were off half a point, Chicago & Great Western 4s off ‘-, International Great Northern Adjustments were off 3, and Seaboard All Florida “A” 6s, off 1, and Missouri- Pacific 4s and 5135, New Haven 6s and Wabash 41;s were also lower. Florida East Coast 5s dropped over a point in early trading, coming within half a point of the low price of 1929, and then rallied a little. Tractions were weak. Brooklyn-Man- hattan Transit 6s, Hudson-Manhattan Income 5s and New York State Rail- ways 4155 ranged lower. Bonds of the oil companies also declined. Richfield Oil of California 6s were down half a point and at a new low for the year. Uniited States Rubber 5s opened off a fraction and at the year's lowest level, but recovered some of the loss later. Armour of Delaware 5!:s were down & point. South American Issues. The strength in South American de- scriptions was attributed to the fact that they had been oversold last week, when the Argentine placed an embargo {on gold exports. An exception were Rio de Janeiro 61s, off 3 points. French loans were off fractionally,” but still close to their 1929 high levels. Belgian credits were strong. The balance of the foreign list was qum and inclined toward weakness. today totaled $9,- -Bond New financing 392,250, of whlch $7,492,000 consisted of municipal issues. Despite the weakness in the stock market and the nnenl lowering of bond prices for the eight days, municipal offerings con | to command favorable prices and rndy absorption. || Washington Stack Exchange SALES. §Clp1l.ll Traction 55—8$3,000 at 92, $500 | cny & Suburban 55—$1,000 at 81. 55—$1,000 at 100. 10 at 75, 10 at Capital Traction Co. .75, 20 at 75, 10 at 15. ;wmmmon Rwy. & Electric pfd.—100 %, } Oopngrsia) National Bank—5 at 285, 60 at 255.- | Riggs National Bank—10 at 535. AFTER CALL. Momlc Electric 5>% pfd.—5 at 105, 410 at 105, lfl at 106 10 108. reial National Bank—10 at 255, .10 at 255, 10 at 255, 10 at:255. Bid and Asked Pric. BONDS. PUBLIC UTILITY. 158 A Coia Biorave n ‘ash. Gons. Title 8. -. Amer. Tel. & Telga Capital Tragtion Co. <hirg NATIONAL llun{ i Nlmmll Capita Columbi nd Rationni TRUST COMPANY. American Securit Continental Trust. <. o C Sercnm Netion | on Washington Losn & Trun SAVINGS BANK. Bank of Bethesda.. Gommerce & Bavina.. Eust Washi toma Becar in SRt Breer” United Staf Estate Title & Inv. of Md. com MISCELLANEOUS, Barber & Ross. Inc.. com.. | Ghevy Chase Gairy bia Col. Band & Sravel ‘pia | Commercial Co. pfd B, r Mig o pid. Natl Becuriiles prd. ‘?del'll Storage pfd. Federal-American Co. | Federal-American pfd. Lanston - Monotype 5 Merchants’ Trans. & Storage Merchants: Trans. & Stor. b Mergent Linotype.... com Beeurlu umu Ret. & Whr. The Ky & Wasl umn}'fmr Corp. Woodward & Lothrop pfd... JEx dividen 0il an Sale Completed. NEW YORK, December 23 (#).—Ar- rangements have been completed for the sale of the White Eagle Oil & Re- fining Co. of Kansas City to the Stand- ard Oil Co. of New York on an ex- change of stock basis. Directors of the White Eagle Co. have called a spe- cial meeting o( stockholders for Jan- . uary 27 to vote on the plan. PARIS BOURSE PRICES. PARIS, December 23 (#).—Prices were firm on the Bourse today. Three per cent rentes, 83 francs 35 cent Five per cent loan, 107 francs 90 cen. times. % tim at 25 francs 37% centimes. ol et British Columbia’s proposed electric plant will cost $7,000,000. THE EVENING STAR, WASHINGT! [ woe BONDS o xmon] Received by Private Wire Direct to The Star Office Sales. 19 101 Lib4th ¢3;e 115 1019 US3¥s... 1104 U S48 1944 US4yss2. Argentin Canada 63 1931 Canada 5s 1963 i Chile Chile 65 '61 . Chile s 1943. Czecho Bs 1962 Danish Munie 82 B. Denmark 4% Denmark 518 "B Dutch East 1 Dutch East 1 Fiat 7s x w. Finland 6% Finland a f Hungary 7% Irish Free Stat 1 Japanese Karstadt 6s 1943 ER-TPAE » - PO PRPNUTPIRY JOTUR - PP epy 2 RhineWst EP 7s 50 Rio de Janerio 638 RiodeJan 83 194 Rlo Gr do Sul 6 "Rio Gr Do Bul 3. Rome 6 %48... 3. Sao Paulo8s 1936.. Sao Paulo 1950 Sazon (PW) 7 Seine 7a 43 Abram&Straus § u . ” Aromur&Co4 3 Armour Del 6%s. At1Guit 58 b9... Atlantic Refin bs. Bell Tel Pa 63 B. ] Stl pm s East Cuba Sug T%s Fisk Rub 8 Hunible O11 Humble O & R 6% 11 Steel 4 %8 Inland SU 4 %8 Intl Mateh 6s 47 Inter Paper Kendalls s Il war Laclede G 6% s . Lautare Nitrate 6s. o NESe Ak mAE Y ~aN RS Montana Pw deb Mor's&Co 15t ¢%s. Nat Dairy 638 Nat Radiator § %" NewEngland Tel bs NYBdimnteds... N Y Edior N Y Tel 434 N 1 o aSBwesD Nor Ohlo Tr&L Nor States Pow Pacific Gas & E1 Pan Amer Pete ¢ a3 PAlh. luln.ngo . 203 Punta Alegre 7s. RemingtonAr ¢s ll. 24 10710 20 11110 FOREIGN. UNITED STATES. (Sales are ip $1.000.) High. 21 9914 9911 Low. Close. 9911 10028 101 101 4 104 107 1t 954 954 93% 804 26 95 83 92 9344 104 2 97 100% 1068 1094 10618 116% 110 100% IOZ\Q »!N\ 98% 109% 109% 110% 904 100% 104 102 102 101% 90 #5 92 98 11t 118% »5 106 sw\ 95 101% 0l 924 10284 1024 10% 8419 £ 8814 1021 96 100% 103 102% 1024 6, 99 101 £8ls 1014 105 108% 108 i) 4% 87% 85 0% 981 9By 108 7 934 102 75 100% 10215 132 103 103% 106% 10014 89 82 T34 100% 104 100% 105% 1047% 1054% 101% 100% 107 93 102 98 1004 101y 10314 10415 90 103% AL i 1024 91% 8lim 834 105% 100 -101% 9% 814 97T% 201y 1048 1031y 1120y 98, 106% 1104 1011y 97 101 101% msu 0% ° 3 95% 95% 95% MISCELLANEOUS. 3 :au 8y 98n 1014 104 107 11 Low. Close. 9613 95% 95% 8915 e 96 23 92 934 10415 24 974 100% 106% 109% 106% 115% 110 100t 10215 109 109% 110% 90% 100% 104 102 102 101% 90 25 924 98 1% 118% #5 106 100 83 97U 991y 6% 5 101% 0% 924 102% 102% 10% R4 93 204 102t 961 100% 103% 103'% 102% 86 9% 10L w8y 10i% 105% 103% 108 MU 8% !1% 704 3 Hhh u' Cloge. 25 Richfield O11 Sinclair O] Sinclair Ofl 638, Sinclair O11 7s. S| Stand OIIN Y Sug E4 Orient ‘Tenn Cop 63 B United Drug b8 Utilities Powr 648 JS Rub Istrfbs... 39 118 Rub THs. Vertientes Sug 7s. Walworth 6s *45. Walworth 63 s 35 Warner Sug 7 Warner Sug 78 41.. West Elec bi Westn Union bs 51, Westn Union 6%s. . White Eagle O 5%.. Wick-Spen ev 78. . . Win RepeatAr 7%s Youngstn S & T bs. 101 RAILROAD. At & &Bir 4s 33 AS&SF cvt 45 05 Atchison adj 4s Atchison gen 4s. Atch deb 4349 4. Atlantie C L 1st ¢8. Atlantic C L 4%s 64 Atl & Dan 2d 4s 48.. B & O Gold Brdway & 7th Av s Brooklyn Eley 648 Bkiyn Un El s Can Nat 4%4s30 Can Nat 4% 1 CMSP&Pac adj5s03 Chi&NW conv 1“:231 Chi & NW 63 Cuba R R 651936 f Cuba 'Nor b %s ets. Erle (Pa) clt tr 4s. Fia East Cbs 74. Gr Trunk st db Grand Tru | Gt Nor 4 448 K. Hud&Man ref bi 111 Cent ret Il Cent 4% s 11 Cent rf bs 55 Int Rapid Tra Int Rap Tr Ss stpd.. Int Rapld Trans és. 1 Iat Rapid Trans 7 Int & G Nor ad) ¢s Int RysC A 6%sret Towa Central ref 4s Towa Cent 18t i Kan City Ft 8 s Ran City 8 3 Kansas Cit; Kan City Term Lake Shore ¢s 31. Lehigh Valley 6s 20 Louis & Nash 9814 | Ma 984 103 id 934 102 k3 100% 102 136% 103 104 106% 100% 89 82 734 100% 105 101% 105% 10474 106% 101% 100% Afll 100% 1015 10315 10415 90 10355 &1 102 941y 81m N3y 1051 1004 1013, 99% | g 8lig 974 20% 1043 | 8 1081y 1124 98BN, 101 110% 1017% 97 101 1014 108% 9% MIIEIRy & L s 1. MIEIRy&L 1 12 Minn & StL rei Minn & StL en § M StP&SSM en M StP & SSM \6 Port EIP L Rio G W 1st ¢s. RIArK& L ¢% St1, IM&S n 68 31 Sou Pac 45 29 Sou Pae ¢34 rots. . Sou Pac 4% ww Sou Pac ref 4s Sou Ry gen 4s. Sou Ry 634a Sou Ry Mo & O 4s. Teraracispion Thira d1 6 ki Whash 4348 18 retsf 16 90% 90% D. C, MONDAY, DECEMBER 23, 19% CHRISTMAS GREENS DISPLAY IS LARGE Unfavorable Weather Inter- feres With Sales at D. C. Market—Prices Vary. Snow-covered Christmas trees, holly and other greens for holiday decorative purposes this morning gave the market district its first real tinge of Christmas. Weather conditions were so miserable that many sellers of greens early this morning announced reductions in prices in an effort to clean up supplies. It was stated by wholesalers that sales of trees had been slow, while reports from Baltimore told .of a cleaning up of receipts before the close of Satur- dya’s market, buying In that city usually being earlier than here. Probably the largest quantities of mistletoe ever recelved here reached % enou.h to suf the local market the past few days. Heavy shipments were received from North Carolina and distant- points in Virginia, while gatherers of the mistle- toe in nearby sections also had large quantities to offer. Holly Displays. Holly never was more attractive than what dealers had to offer. today. Much of the receipts came from nearby Mary- land and Virginia and ‘sold at a wide range of prices, quality and size of the bunches being the devnrmlnln( factors. Chief interest this morning was in the turkey market. Receipts were slow reaching the market, it is stated, and wholesalers reported much fewer tur- keys on hand than had been antici- pated. While chain atores continued to sell supplies at 39 cents, the price went as high as 45 and 50 cents in the mar- kets and many stores this morning. Wholesale prices took a corresponding advance. Very few haulers reached the local markets with turkeys during the early morning hours, dealers explaining that receipts did not promise to be any- thing like as heavy as h-d been an- ticipated. More than one reason was advanced for slow receipts. "It was stated that numerous turkey raisers concluded to withhold their stock because of low prices the past week or more, whilg on the other hand, it was suggested that many truckloads of turkeys were held back this morning by the miser- able condition of the Toads, and they may arrive later in the day. was suggested that tomorrow morning's receipts may be heavier than antici- pated. “Christmas, Dflming.on ‘Wednesday, makes it difficult to handle the turkey business to' the best advantage,” re- marked a dealer. “It means that dress- ing of turkeys has to be done on Sun- days, and many people in the country are o] to having such work done on Sundays.” Chicken prices also have advanced. Last week the market was fairly glutted with chickens, and prices reached a low mark, but with so heavy a de- crease in receipts prices advanced, and dealers may have to draw upon storage stock to supply the trade. It was said this morning that many of the turkeys put in storage when cheap prices rul at Thanksgiving will put such. stock on the market for to- morrow’s _trade, ially if receipts continue slow this afternoon and to- morrow morning. Egg Market Firm. A omt ued very firm condition of ket was reported, stulctly (run stock continuing in slow receipt. The market this morning was partic- ularly firm on top grade, but prices were irregular. The butler m-rket also continued firm on top ipts of eommodmeu nn the farm- ers’ nne this morning were light, Christ- man greens taking up most available e. On the commission house line three were immense quantities of fruits and vegetables to offer the retail trade, nfid dealers were kept busy mioving sup- pliea. Business was all that wholesalers had reason to anticipate, according to re- ports and sales, uuy mm were hea ‘hristmas of 1! lenty for uverlce consumers. Be- ull iness in the markets also was ‘ood this morn! “Snow has kept aw remarked a dealer, t it he) the telephone trade. No matter what the weather condition is tomorrow, sales are almost certain to be heavy. With the exception of prices of turkeys and chickens, prices this morn- ing were about the same as those quoted at the close of last week’s market. Veoday's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butier —One-pound nrlnu 41'2a42%;; tub, 40'3a41%;; store pack s@-aza Hennery, 55a58; freeh selected, current receipts, 48a50. Poultry, alive—Turkeys, v 33; old, 27; !urlnsochlckem, many shop large, 2!: 30 Dressed- sn 37a40; old n- 35a36; medium, fowls, -33a34; , 28a30; roosters, mnl hens and Spring chickens, !5:30 mllers thorn- 26a27; ki 23a25; capo ; keats, 50a60. Meats—Beef, veal, 24a26; lamb, 24a27; pork lnll'll‘ 22a25; fresh hams, '2023; fresh shoulders, 19a22; smoked hams, 25226; smoked shoulders, 18a20; bacon, 25: l“!.llud. in bulk, 12a 13; in packages, 13a14. lel stock—Calves, 14; Iambs, 12'za ., Fruit and Vegetable Review. vegetables ~_(com) y News Service Bureau of Agricultural Economics) says: Sales to jobbers ex- cept where noted. Apples—Supplies moderate; demand and trading good, market steady; bar- rels, New York, U. 8. Fancy, 2% inches up, Rhode Island Greenings, 9.50; oflnn. .5006.00; . No, inches up, Delicious, '7.5088.50; U No. 1, 2% inches up, Yorks, ISMM boxu, ‘Washington, ‘medium _to larg size, extra fancy Delicious, !7504 flD. extra fancy Staymans, 3.00a3.25; extra fancy Romes, mostly 3.00; fancy Romes, mostly 2.75; extra fancy Spitzenburgs, 3.50; bushel baskets, Pennsylvania, U. 8. No. 1, zl? inches up, Yorks and Black TII 0a1.50, few higher; U. 8. No. 22 inches up, Northwestern Green- \nu, 2!5 Virginia, U. 8. No. 1, 2’3 inches Staymans, fine qulllly an condlzlon 225!250 plies moderate; demand mo%denud nurh et lmudy."flew Yo{lk’ 100-pound sacl b Dln lype, mos! 2.00; 90-pound Danish type, 1.75; South c-rollnl. 11;-bushel hampers, rmnud type, mostly around 200, few czlery—!uppllu liberal; demand and :ood ket steady; California, .00; few fair quality, §.00; 3.75; New York, 2-3 crates, 355 Tew 1o s 350, Lenuce—!u;g:tes light; demand m market firm; California, enm Icel dozen, 5.0085.50; few higher; flpeldl IJ -bushel hampers, Big Boston type mostly 3.25. ions—Supplies moderate; demand modeflw market pound sacks, yellow, U. 8. steady; ohh. 100 dium to large sise, miostiy 2 %00, Indiane, 50 m.vufllw U. 8. No. 1. size, '2.00. - Sales. High. Low. Close. 4102 102 102 3 9% 9% st Waest Shore ds 61... Wilks B& B 1st §s.. 1t also | 3 What Fixes Bond Prices By George T. Hughes Note: This is the first in a series ©of three articles giving important {;c:g'n governing the purchase of Interest Rates. Many factors enter into the making of & market price of a bond. Supply and demand varies according to a number of conditions. One of these, familiarity of the investing public with the issue in| question. Others are the qualifications of the bond for purchase by trustees and by financial institutions, the place the particular bond occupies in the ! pl'-ll structure, the length of time to maturity and the investment fashion of the hour. ‘There is one consideration, however, w which all bonds of an investment ting more or less sensitive and '.hlt Is the prevailing rate for money mand good, market steady; Maine, 150~ pound sacks, Green Mountains, U. 8. No. 1, 4.50a4.60; 120-pound sacks, Green Mountains, U. 8. No. 1, 3.60a 3.65; New York, 150-pound sacks, round whites, U. 8. No. 1, 4.35a4.50. String beans—Supplies liberal; de- mand moderate, market steady: Florida, bushel. hampers, green, type, stringless, best, 2.25 2.00; few, 2.25; Bla mostly 1.75; few higl Doorer all varieties, low as 1.25. Supplies very light; demand ll;ht market steady; Florida, pepper crates, white, wrapped, slightly large size, 3.00a3.50. Eggplant—Supplies light; demand rm; Florida, pe) light, market r fair qul&l'ty. 3.0023.50; crates, fancy, few fine quality, 4. .00. ‘Tomal pplies light; demand moderate, market steady; Ohio, 8- pound baskets, hot-house stock, med- lum size, 2.25a2.50; large size, 1.75a 200 lmlll size, - 1.2521.50; repacked, 38, good quality and eondmm :oo- .50; 4s, ripes, wrapped, fair condition, 2.50a3.00. Spinach—Supplies - moderate; de- mand light, market firm; Texas, bushel baskets, savoy type, 1.40a1.50; few, 1.60. Caulifiower—Supplies light; demand moderate, market steady: California, Wny refrigerators, 2.25a2.50. Peppers—Supplies light: demand light, market steady: Florida, pepper crates, fancy, 5.50a6.00. Pears—Supplies light; demand mod- erate, market steady: Cfll(drnll 40- pound crates, 6.00a6.50; few, 7.00. Carrots—Supplies moder: deman: moderate, market steady; Clllfomh Western lettuce, crates, bunched. 3.15a .50; New York, bushel baskets, bunch- ed and washed, mostly around 1.50. Beets—Supplies 1i; erate, market stea lettuce crates, buncl 3.50. str“lbernu—euppnea light: demand light, market firm: Florida, pony, N- frigerators, Missionarys, 50a55; few, 60 Real Estate Investments JAMES Y. PENNEBAKER Nat.5201 1520K St. N.W. Sold in L-n—swoaa Up Call or Standard Colhl al Shares Corporation Woodwird .'m Ing Money to Loan arataress” Joseph 1. W, Interest on Savings Compounded Semi-Annually d the opinion of the financial com munity llta m course of interest rates. Other thin g equal, bonds com- mand a hi her wlee ‘when interest rates are low and vice versa. The reason for this is very simple. The coupon rate on the bond cannot be changed with fluctuations in the price of money, and so the only thini l.hm. can reflect those fluctuations quotation for the bond. When mney is low. a bond with a 4 per cent coupon is worth more than when money is high, because the holder must always be content with his $40 a year, and when money is low he will be willing price for an annual in- than he will when money opinion that interest rates over period will decline, Observe that the financial condition of the Atchison Mflmumwl‘wlfixm“ not enter inte the matter at all. ‘This factor of the movement of money rates affects bonds in direct proportion to their investment quality— that is. interest levels are more In- fluential in governing bond prices of the best bonds. Speculative issues are are affected only in slight nme and the more speculative they are the less they respond to money ri Mr. Hughes, next article will appear |in The Star tomorrow. Hence we have over a period of years a wide range of mlr'keu:;lon ;or —— such a pure investmen as, for i instance. Atchison general 4s. 1t & band Clearing House Statement. dealer say, to you t he expects with-| NEW YORK, December 23 (#)— in the next few years Atchison general Clearing house statement: Exchanges, 4s to sell par against their present ' $563.000,000; balances, $133,000,000. Equitable Co-operative Bldg. Ass’n Organized 1879 80th YEAR COMPLETED JO!N JOY EDSON, President WALTER 8. PRATT, Jr., Assets .............85,662.549.55 Surplus & Profits. $1,705,130.78 Subscription for the 98th Issue of Stock Being Received SAVE AS YOU EARN HE Equitable’s plan of sys- tematic savings encourages thrift in a manner that if con- sistently followed will even- tually lead to financial inde- pendence. Start now while you have a steady income. Come in and let us explain about our systematic plan. 915 F St. N.W. $2.50 sfflz Complete Investment and Brokerage Setvice Copy of enr “Fortnightly Review® furmished om request G. M."P. MURPHY & Co. Members New York Stock Exchange 1510 H Street Connecticut at K WASHINGTON Telephone National 9600 New York Philadelphia Richmond Private Wires and Telephones to New York London S REYE E'RIRYST MORTGAGES A GIFT SUGGESTION If you want to make some one a gift that will not only’bé thor- oughly appreciated but continue a reminder of your compliments, let it be one of our 6% FIRST MORTGAGES Besides its face value there is its appealing interest-paying fea- ture, and it will prompt a desire for thrift, setting a good exam- ple for safe investment. Over a Third of a Century Without a Loss May be purchased in amounts from $250 up. B. F.. SAUL CO. National 2100 925 15th St. N.W. National Metropolitan 115 Bank 115 Years Years ol Old 15th St. opp. U. S. Treasury THERE IS 'NO SUBSTITUTE FOR SAFETY That Christmas Bonus Will it go into one pocket or out of another! Or will it stay with you— working and earning, giving you a steady income throughout the year to come? Treat the bonus you get this Christ- It’ll Spur on That Boy ~—of yours to greater endeavor to give him a Christmas Savings Account to increase. 1l As little as a single llar will start a Metropolitan Savings Account. 3% Paid on Savings Oldest National Bank in the Distriet of Columbia mas as something apart from what you had expected and instead of spending it for somethmx you may not need, invest it in a First Mort- gage Nou through Swartzell, Rheem and Hensey Company where it will remain intact and pay you 6%. Many of our clients have done this year after year and have built up a con- siderable nest egg without having missed it, The First Mortgage Notes sold by this company have weathered the financial storms for over sixty years. The interest, payable semi-annually, comes to you promptly and unfail- ingly. Invest your Christmas bonus this year and the two interest checks you receive in 1930 will give you joy of two Christmases. SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS TL7 1S STREET N-W-/ WASHINGTON D.C.