Evening Star Newspaper, December 29, 1929, Page 32

8 BONDS IRREGULAR [N LOWER MARKET Tax Selling Renewed at Short Session—High-Grade Issues Firm, BY F. H. RICHARDSON. Bpecial Dispatch to The Star. NEW YORK, December 28.—With | only two market sessions left in which | to show losses in the year's income tax return, there was a renewal of this type of selling on the bond market today and prices ranged irregularly lower. High- grade ds and the second-grade rails Tesisted this trend. Volume was lighter than the first two ours of Friday. The large reinvest- ment demand which is anticipated for next week did not put in an appear- ance. There were few losses in the legal bonds. United States Government is- sues were about unchanged, Atchison general 4s, Baltimore & Ohio first 4s and Union Pacific 4s (1968) were frac- | tionally lower, but New York Central debenture 4s and Pennsylvania general 4155 were both higher. Junior rail bonds remained virtually unchanged, only small fractions repre- senting the declines. St. Paul adjust- ments and Florida East Coast 5s were strong Interborough Rapid Transit 6s drop- | ped a point and Pathe 75 were down 2 flomm. Since the losses of recent weeks ave been heavy in both these issues, 1s was to be anticipated that they would have further declines in the last-min- ute tax selling. Foreign descriptions were 1!1'!'\11]!.[ with the best strength shown in French and Italian issues, and the weakness in South Americans. Quite a number of foreign dollar credits are at their low levels of the year, including Lautaro Nitrate 6s, Bogota Mortgage Bank 7s, Parana State 7s, Rio de Janeiro 6lcs (1959) and Sear Basin 7s. This group has had declines of 4 to 10 points since the bond market’s November recovery. New municipal financing for next ‘week to the amount of $4,837,559 is in sight and the final total is not expected to be much more, because of the holi- day. The total of new offerings for the year is around $1.800,000,000 and averages about $32,582,000 per week, as against $28,685,000 in 1928. MARKET RESISTING BEARISH PRESSURE AS YEAR END NEARS | (Continued From Fifth Page.) i been little argument raised against the form of merger accredited to the New England territory. He favors one in- stead of two systems there. Aside from the tying up of the Seaboard Air Line with the Wabash, practically all of the suggestions affecting the South end Bouthwest are reasonable, though there undoubtedly will be a conflict should the Florida East Coast beé taken from the Atlantic Coast Line. The Atchison management has always insisted that it would not accept from any commission such weak lines as might be assigned to it. Its feelings in this respect have not been injured by the apportionment to it of the Chicago Great Western, which is a much strong- er property today than when general consolidations were first proposed. Meanwhile, the Atchison has absorbed the Kansas City, Mexico & Orient, ‘which for a long time it snubbed. The Southern Pacific is left in its present state. The only change in New York Central's status is in relation to the Virginia Railway, which it is to acquire, and in giving up to the Baltimors & Ohio its portion of the joint control of these two rcads in the Reading-Jersey Central alliance. Curiously enough, it is to the Baltimore & Ohio and Nickei Plate, which have figured most promi- nently before the Interstate Commerce Commission in consolidation disputes in the last tvo years, that this body has shown the greatest sympathy, and hac been most generous in granting their claim to alien properties. Commissioners [rge Changes. ‘The confused character of the com- mission's plan is emphasized by the attitude of several of the concurrin, members both toward consolidations of Tallroads in general and to those which ;.hey 'h;ve ldmlgt:d tlgw the 19 dif- erent groups. other words, after Tendering tmlr decision the commis- sioners tear it apart. Commissioner Eastman devotes 16 pa of the re- port to a discussion of the ways in ‘Which the official plan might be im- proved. He is not enthusiastic over consolidations as such, citing the cases of the Frisco and Roci Island, the old Gould lines and the New Haven under the Mellon regime as illustrations of the evil results of it. There is much doubt in the minds of the commission Whether mergers of the Erie and Nickel Plate, the Great Northern and North- ern Pacific and the Norfolk & Western and Pennsylvania can stand the test of either the Clayton act or the Sherman anti-trust act. In this same category is placed the stock control which the New York Central and the Baltimore %e Ohio jointly exercise over the ading. In view of all of the contradictory aljj ents recommended and the offi- clal attitude toward what is now pro- posed and what has b2en tacitly ac- cepted as legitimate, it is not strange that the market for railroad stocks this week should have moved uncertainly and that no conspicuous enthusiasm for them should have been aroused | from the publication of an eight-year | delayed plan. TEXAS BORDER PATROL IS HELD SIMPLIFIED Problem of Checking Liquor Flow There Declared Easier Than in North. By the Associated Press. FORT WORTH, Tex., December 28. =The problem of enforcing prohibi- tion along the Mexican border, accord- ing to G. A. Hammons, assistant pro- hibition administrator in this district, 15 not nearly as difficult as it is along | the Canadian border. Conditions of entry into the country along the Rio Grande are not similar to those along the Canadian border. | A person coming from Canada may enter at any port along the border, provided he reports his entrance at the nearest port. The new plan proposed by the Treasury Department would pre- vent entry into the country except at designated ports. The latter system already is in effect along the Texas border and has been | for many years, Hammons said. There | are only six ports of entry from Eli Paso to Brownsville, a distance of ap- | rroxnmlt!ly 700 miles, and entry may | iawfully be made only at thos: places. The border patrol has authority to ar- | Test any person sten attempting to cross the border at any place except those designated. The svstem simpli- | fies the work of prohibition enforce- ment. Building Miniature Railroad. GREENWICH, Conn., December 28 () —Milton Cronkhite is bulldng on his estate a miniature of the Pittsburgh division of the Pennsylvanie Ratiroad, &t a cost of $35000. Everything, even the scenery, will he o a scale of a , quarter of inch to a foot. He will have 600 pleces of rolling stock. used extensively as & ines. FINANCIAL. 101.00 100.04 100.03 105.26 108.24 112.283 Bank of Chile 658 1961. Belgium 68 '55 Belgium 7%s Belglum 85 '41 Bolivia Ts ct * Bordeaux 6s ‘34 Brazil 615 192 Brazil 8s°41. Canada 58 ‘52 Chile Republi; Chinese Govt Ry bs Colombla 6s 1961 Ji Copenhagen 5 Czechoslovaki Denmark 5%s 1958 Denmark 65 ‘42 Duteh East Indies 6s Dutch East Indies 65 Fiat 7s '46 war., Finland 7s ‘50 § French 7s'49. French 7ts "41.. German 7849 German Bank 6s 1938 Greek 65 1968 Irish Free State 55 '60 Ttaly 78°'51. Japanese 6% Kreuger&Toll 58 ct Mexico 4s 1904-5 Milan 6% Netherlands 68 New South Wal Norway 5%s. . Orfent Dev 538 Paris Orleans 5% Paris-L: Peru Peru 7s.... Pirelli Co of Poland 85 ‘50 Queensland 6 106y 98% 1014 101% 47 10 101 foali Rome 6348 52 Sao Paulo Sta Seine Dept of Serbs, Croats&s] Serbs Croats Slov Sweden 68 '39 Uruguay 6s 196 Vienna 6s 1952. Warsaw 7s 1958 Yokohama 6s Am Chain 6s 1933... Am1GChm5%s H‘:s. Am Sm & Ref 1st A:n Sugar Ref 68 ‘37, Armour & Co 4%s8 39 Armour of Del 5%s Atlantic Ref deb 5 Bell Tel (Pa) Beth Steel p m Certain-taed b % Chile Copper 5847, Colon Oil 6s 88 Cuba Cane Sug cv deb 8s. 104% Detroit Edison ref 65 '40. . 87% Dodge 65 '40. 95% Duquesne 4%s 1967 60 East Cuba Sug 7%s ‘37 94% General Cable 5%5 1947.. 98 Gen Motors 6s'37 Goodrich (B F) 6 85 Goodyear Rubber 98 Humble O1l & R &% 89% Inland Steel 4148 1.9 Inter Mer Marine 84 Inter Paper 5s A 109% Inter Tel&T cv 4% 86% K 1N 5% "48 ( 96 Lackawanna St 99% Laclede Gas 5% Liggett & Myers Loew's Inc 68 '41 e = 92% Nat Dairy Prod 5%s 48 20% Nat Radiator 6%4s 1947 101 New England Tel 55 '62 110 N Y Edison 1st 6 96% N Y Tel 104 N YT 95% North Amer 971 Northern States Pow 99 Pacific Gas & Elec 55’42, 100% Pacific Tel & Tel 63 '63... 101 Pan-American 68 '34..... 91% Paramt-Fam-Lasky 68 47 951 Philadelphia Co 58°67. ... =0~ Phila&Read C&1 63 wi ‘49 85 Philips Petrolm 6138 ‘39 884 Postal Tel & Cable 135 Public Service 4% 88 Remington-Rand 6% 98 Sinclair Ofl 6530 961 Sinclair Oil 7s ‘37 9214 Sinclair Crude Ofl 63s. .. 89 Sinclair Pipe Line 55 1942 101 Southwesn Bell Tel 68 '54 . 100 Stand OfI N J 5. 91% Stand ONI N Y 4145 '61.... 51 Sugar Est Oriente 55 1942 88 Tenn Copper 6s°44 B 92 Transcon O] 6148 '38 United Drug b8 '53. 101.2 10113 99.17 99.19 99.16 99.20 104. 107, 111, Wilson swsFet g - | Y Central +1l++10 |+ EF F SEFEFF LIS 10i% 108 98 112% 118 106% 228 823 9674 24y 101% + © & PEEEEFEEEF ccca Cuba R Detroit Florida FEEFE ¥ ¥F Hudson SF P EER L2 - - Iiinots Ilinots Inter & Lehigh Louls& Market Minn & Nassau Ore ¥ 2 Penn 4 Penn 6, Ches & O Ches & Ohio Hud & Man ref 58’57 Pennsylvania 7s ‘30, Reading 41597 3. Westn Maryland 6%s 17, Walworth Walworth Western Union Tel & Co 18 Youngstown Steel bs ‘78. . RAILROAD. Atch T& S Fgen ds Atch To& San F 4% ‘4 Atlantic C L 1st 2 B &Oref5s'05. B & O ref 5s D 200 Balto & Ohio 58 48 Balto & Ohfo 68 '95 B&OS W Div §s'50 Boston & Maine 58 6 Broadwy & 7th Av bs '43 Brooklyn Manhat 1st 65 A Canadian Natl 438 '30 Canada National 4%s Canadian Natl 434557 4 Canadian Pacific deb 4 Pacific 4s ocv4igs ‘30, gen 4 il ChiB& Qref 5s'71. Chi & East 111 gen 5s 7% Chi Great West 48 '59 Chi MStP&P6s'75 Chi MSt P& Padj 5 s Chi & N W 6148'36 Chicago Nor '4 Chicago Rys 5827 Chi & Western Ind con Chi & Wesern Ind 5 StL5sD.. f 1 Cleveland Terml 5s B '73. Cleve Terminal 6%s Colo & Sou ref 41s '35 R bs '52. Cuba North 5%s '42. Den & Rio Grande cn 4 Den & R G West bs'65. .. Den&Rio Gr Westn 55'78. Des M & Ft Dodge 4s'35.. United ¢%s '32... Fast Coast 58 '74. Fonda J & G 4%s'52 North gen 5% '62. North gen 75 °36... na Elec Ry § & Man ad) 58 '57.. Central ref 4s "85, Central 4% °66. . Inter Rapid Tran 5s '66. . Inter Rap Tr 68 sta ‘66 Inter Rapid Trans 6s ‘32 Inter Rapid Tran cv 7s. Great Nor adj Inter Ry Cent Am 6%4s. Iowa Cent ref 4s'51..... Kan City South 85 1950 . Kan City South b8 '50. Kan City Ter 1st Lake Shore 4s '31. Valley cn 4 . Nash 7s, 1930,... Street Ry 7s A *40 Mil El Ry & Lt 1st ref 6s. St L ref 484 4« M3tP&SSM6%s 31, Mo Kan & Tex 1st 0 Mo Kan & Tex adj 6s '67. , Mo Kan & Tex prin 68 A. Mo Pacific gen 48'75 Missouri Pacific bs A Mo Pacific bs F, Missouri Pacifl Mobile & Ohlo 43877 El 4851 N Y Centdeb4s34...... N ¥ Cent ref imp 65 2013. N Y Cent deb 6s ‘35. N H & Huart 438, '67. ¥ Y N H& Hartelt 6540, N ¥ N H & Hev deb N ¥ State Ry ¢ N ¥ West & Bos 41 Norfolk & W e North Pgeific r h 1st ref 48 1961 Penn gen 435 65..... %s 63 Penn gen 55 '68 Pennsylvania 58 1964, 4836 100% 97 8214 95% 9974 95% 88Y4% StL & San Fran bs 4 St Louls § W con 4s % StPKCSLinedl%s's Seaboard.A L ref 4s '5 Seaboard A L ad) 584! Seaboard A L con 6 South Pacific ref 4s '5b Southern Pacific 414s Southern Ry gen Southern Ry Soutnern Ry dev 6% 4 Third Ave 1st ref 4s Third Ave adj b act Virginia Rty 1st 6 5. E R T I+ cesrsFireeP s ery » G Fir Stock and dividend. 22 Walworth Co (2). 1% Ward Baking B. 50 Wara Baking pf (7). 30 Warner Bros Pic (4).... 28% Warner Bros P pt 12.20) Warner Quinlan «2).... Warren Bros (19). 15% Warren Fdy & Pipe (2). 4 Webster-Eisenlonr, .. .. 20 Wesson Oil & Snow (2) 491 \Wesson Ol & Sn pf (4 36's Western Dalry A (4) Western Pacific 3714 Western Pucific p 155 Western Union Tel 36's Westinghouse Air B «2 100 Westingrouse E & M(5) 19% Weston Elec Inst (1 30 West Vuco Chiviines 19 Wextark Radio « 25 Wnite Eagle % White Motors (2) White Rock Min Sp (14) 1 White Sewing Machine 27 White Sewing M pf (4).. 12% Wilcox Oil & Gas..... 19 Wilcox & Rich (A) 2%.. 12% Wilcox Rich B (€2)..... Hish. Low. Close. . 2% e 42 42 180 x186 (Continued From Sixth Page.) Net 1929 Chge. Illrh. Low. + %135 sy 651 3 o Stock 44 45 124% 1834 28 % aEcwene FF FF Fev 8 Paid iast year—no in_stock. d Pavable in stock. & P Willys-Overland (c1.20) Willys-Overland pf (7). Wilson & Co..... . Wilson & Co (A) Wilson & Co pt. Woolworth Co (2.40), Worthingion Pump. Wright Aero (2). Wrikley Wm (4). Yellow Truck & Coach 4 Young Spring (3) Youngston Sheet & Zenith Radio (). f Plus 10% 1n stock. g Plus 6% in stock and dividend. Bish. Low. Close. 8 | 4 % 671 65% 3% ™ 45 6914 65% 35 68 14 36% 107 ™ RIGHTS—EXPIRE. Am Rolling Mill.Feb 15 Columbn Carbon Nov 8. N Y Central. oordandl thun L0 snares. 3 In preferrea stock egular b when e 1Partly extia 1Plus 3,35 in h Partly stock. COFFEE PRICES NOW FAR IBELOW CHARGES YEAR AGO Spectal Dispatch to The Star. NEW YORK, December 28—The price of coffes has declined during the past month to the lowest level of the year. Coffee is now selling at about one-half the glee quoted & year 2go. Despite this low level, there is little ' to indicate any immediate recovery in the near future. It 15 quite postible that the price may show a further downward trend. Imports of coffee into the United States during the first five months of the season, beginning July 1, totaled 4,340,000 bags year, as against 4,062,000 bags last year, an increace of 6.8 per cent. higher rate of im- ports this year, however, has only dent- ed the heavy surplus in Brazil other exporting countries. Net Chge. iy - 8% a W + = g + % 1Py atock k ) Plus 2% 3% # share in stock. © Plus 3% in stock. m Flus 1/25 of » share in stock and Importing countries would have to take more than twice the amount imported last year in order to exhaust the heavy supply. . The Turkish fleet plans to cruise n't‘lel w Mediterranean next anl. and o visit Malta to return Tecent of the British fleet, ! for the resumption of operations cn a 4 ever, this may not be as great as ex- Four enlisted men of the 1st Bat- talion, District Naval Reserves, have announced their intention of seekin; appointment to the United States Naval Academy at Annapolis by filling formal applications to take the coming exami- nation. Each Keur the law permits a hundred of such enlisted men from the Naval Reserve of the country to be ap- inted, but so far the quota has never E:en filled. Those who successfully pass the examination, therefore, have an excellent chance of receiving one of the coveted appointments. Recently the Navy Department called attention to the fact that not all of the vacancies were fllled, and sought the aid of naval district commanders in ob- taining sufficlent men, as it is the de- sire of the naval authorities to keep the classes at the academy as full as pos- sible, especially in view of the fact that the number of congressional appoint- ments has been reduced. The men who have filed their appli- cations are Arthur Nicholas Thomas, seaman, second class, 717 Massachusetts avenue northeast, attached to the 3d Fleet Division; Albert Everest Harned, seaman, second class, 5 Columbia ave- nue, Takoma Park, Md., attached to the 3d Fleet Division; Irving Stahl Presler, seaman, second class, 4311 Hayes street northeast, 3d Fleet Division, and George Fleming Davis, seaman, second class, 2119 Eighteenth street, 1st Fleet Division. Tt i3 the hope of the officers of the battalion that all of these men will be successful in the examinations. James J. Donohoe, seaman, first class, has been transferred from the U. S. S. Osborne to the local Reserve organiza- tion. arles H. Foreman, blacksmith, sec- oncdhcllss, has been transferred to the 3d Naval District at New York. Ernest H. Fountain, seaman, second class, attached to the 2d Fleet Division, has been ordered transferred to the er Naval Reserve. vu&‘:‘fr‘lu.!. Friberg, fireman, third class, 3831 Legation street, Chevy Chase, has enlisted in the battalion, and was as- signed to the 3d. Fleet Divislon. 4 1sak Isaken, chief boatswain's mnseo. has retired upon the completion of L years' gervice in the Regular establish- ent and the Reserve. mnobm F. Kerka, chief yeoman, h_ul been transferred to the eleventh nava | class, has been transferred to the local district, l:rllfl’l headquarters at San al George W. Madison, seaman, first- class, second fleet division, has been transferred to the fleet naval Reserve. . Rawlinson, chief ma- chinist's mate, has been transferred to the fifth naval district, with headquar- ters at Hampton Roads, Va. . Willlam H. Wagner, , 1622 E street southeast, enlisted as a fireman, third-class, and was assigned to the second fleet division. 1 Harold Lee Ward, seaman, second- rganization from the ninth naval dis- ;flm. with headquarters at Great Lakes, Houston M. Warnix, chief electrician’s mate, has been transferred to the locul‘ Reserve from the Regular establish- men. He was on duty at the receiving station at the navy yard here. Frank C. White has been promoted from gunner’s mate, first-class, to chief gunner's mate and transferred from the third to the second fleet division. Henry G. Winn, gunner's mate, first- class, has been transferred from the second to the third fleet division. Harry 8. Yetter has been ordered promoted from yeoman, third to second class, in the first fleet division. Philip F. Klein, fireman, third-class, 915 New York avenue, enlisted last week 3{;411 was assigned to the third fleet di- on. ‘The following promotions in the third fleet division have been ordered: Leigh C. Kenyon, from seaman, second, to first-class; Charles S. Montgomery, from fireman, third, to second-class, and Edwin L. White, from seaman, sec- ond, to first-class. The battalion will hold its regular drill tomorrow night despite the holi- days. There will be an inspection of the organization by Lieut. Comdr. Fin- ney Bascom Smith, commander of the organization), upon completion of which the men will have an athletic period, dungz &hich there will be several box- outs. 'Chlef Clerk Dawkins, chief clerk of the lccal Naval Reserve, was given a present last week on behalf of the offi- cers of the battalion as a token of ap- preciation of the assistance given them durll:\g the year in handling their paper work. BANK SEES TURN INAUTO TRADE Cleveland' Trust Says 1930 Output Will Be Kept Close to Retail Demands. Special Dispatch to The Star. CLEVELAND, December 28. — Im- proved sentiment has appeared in the automobile industry and present indi- cations are that the trade is beginning to turn the corner toward moderate improvement, says the Union Trust Co. “The industry is now looking forward to the January motor shows,” says the bank. “Meanwhile orders for steel, parts and other materials are showing some increase. The rate of improve- ment will depend upon developments in the trade in the coming year. It does not appear likely that the situation will justify an immediate upswing to high peaks of production.” The bank estimates the replacement demand for cars and trucks in the United States and Canada during 1930 at 3,000,000 units and total output at somewhat, though not greatly, below 5,000,000 units, as against approximate- Iy 5,600,000 produced in 1929. Ready to Increase Schedules. “Most automobile companies,” says the bank, “are planning their schedules gradually increasing scale early in 1930. The majority are not expecting to reach | the peaks of 1929 activity in the coming | year, although one large company is re- ported to be preparing for a subatan-‘ tially larger output. | “The coming motor shows are ex- pected to give an indication of the trend of demand for next year. No dramatic changes in design and engi- neering ere known to be in the mak- ing, but some interesting developments are indicated. “One factor on which the automobile industry is pinning its hopes for 1930 is a further growth in the number of | ‘two-car’ families. The increasing effi- clency and finer appearance of small low-priced cars are making their use more common in well to do families to supplement the larger cars.” However, the new high standards of the lower-priced cars are making it in- creasing hard to sell high-grade used cars at a profit. It also reports an- nouncements by the heads of a number of leading automobile companies that | they will keep output closely in line| with retail requirements so as not to| force dealers to resort to the uneconom= ical sales methods largely prevailing in former years. Export Business Dragging. “Recently there has been a recession in exports of automobiles compared with preceding months,” says the bank. “This recession in exports has resulted partly from reduced sales abroad and partiy from the growing tendency on the part of American producers to ace quire production facilities in foreign countries. The first factor came about | partly as a result of the high money | rates in this country, which caused a virtual drying up of loans to Europe, thus affecting the purchasing power of forelgn borrowers and buyers. “The building of plants abroad by American automobile manufacturers may be expected to have some influence upon exports from this country. How- pected by tcme, because of the fact that many of the foreign plants are merely assembling plants and the vari- ous parts for cars in the main are ship- ped from the United States to theae> assembling plant: STEEL FURNITURE AVERTS| LEGION HALL DISASTER! Tables Used to Support Gradually ! Sinking Floor as 125 Escape. Only 4 Injured. By the Associa‘ed Press. LANCASTER, Pa., December 28— The gradual collapse of the second floor of the American Legion Hall at Quarryville last night, and steel furni- ture, which acted as a support for the weakened timbers, were held respons- yesterday for averting a more seri- ous conclusion to the accident. The second floor sank a short di- | tance and hung suspended for a_briet | interval wh'le 125 card players slid to | the first floor. Twenty-five persons who were seated about the wall on the first floor, waiting for a dance to star, were able to escape from the building. Those trapped in the bullding prowe ebly were saved from injury by the steel tables, which acted as supports for the weakened flooring until rescuers removed them from the debris. i Only 4 of the 40 or so persons werw | badly injured. ! No invectigation will be made in the accident. gt PENNROAD CORPORATION. Definitive voting trust certifica common stock of Pennroad Corj for tion Shaw Shows Skill In Obtaining Taxi Without Long Wait| Leaves Theater When Cur- tain Falls and Beats Crowd to Street. LONDON, December 28 (N.AN.A).— There are many different methods of getting a taxi. Sometimes, when things are slack, you merely have to whistle, or, better still, get the hotel doorman to whistle for you. At other less fortu- rate times, especially during the theater rush &our, which begins about 11 p.m., you may whistle or tip in vain, Not, however, if you are Mr. Bernard Shaw, who is probably the most expert man in Londcn at the art of getting a taxi during the busiest periods. When he happens to be at a theater he is out of his seat in a flash directly the cur- tain falls and running onto the pave- ment before any one else has had time to put on his hat. By the time thel rest of the audience reaches the street he is triumphantly seated in his taxi, or, more probably, half-way home. Sir James Barrie is different—he | would be. He hates crowds and is too | small to push his way through them | vith any great success anyway. Re-| cently, after he had been fulfilling a| public engagement in Glasgow, he! slipped out through a private door of Kelvin Hall and walked away. Nobody saw him go, but he walked through many back streets before he considered | himself “safe.” Then, when he felt he had walked enough, he went into an undertaker's | shop and asked the man there if he; could get him a taxi. (Copyright, 1929, by North American News- paper Alliance.) Councilor & Buchanan Certified Public Accountants Wm. Gordon Buchanan Tower Bullding National 6110.6111-6213 (Telephone Directory Omission) = First Mortgage Loans Applications Invited Glover & Flather 1508 H St. N.W. National 1753 Interest on Savings Compounded Semi-Annually U. S. TREASURY SUPZRVISION COLUMBIA PERMANENT |BUILDING ASSOCIATION 733 12th St. NW. Offices for Rent in the Chandler Building 1427 Eye St. N.W. lN the heart of Washington's financial district. Single Offices and Suites. 'EATURING free secretarial service, public stenographer, ice water on each floor, high- speed elevators, excellent outside light and Venetian blinds at all windows. SHANNON E LUCH S will be issued in exchange for the temporary certificates now outstanding on and after January 2. k Mancging Agents 1435 K St. Nat. 2345 FINANCIAL. ) To the Holders of Preferred Stock of the sl ot holders of ‘Bref cra of Prefer Smith Compa: T . The to_the 1.8t affairs of the company, the convinced the intere their Preferred Stock with the di Interstate ‘Trust Company. w ing stockholders its negotiabi posit promptly informed of al bove Corporation: nsent cf sent and protect the inter: the P. H. ny, I ne. necessity for such a committee is due following facts: ockholders are widely scattered and not effectively protect their interests ept by acting in concert with esch ugh a committee appointed have been instituted company. in which charges mismanagement, waste and conver- n_of ssets ‘of the company are and for the appointment of re- 3 T legal cRainst the compan: In view of the critical condition of the Committee is sts of stockholders will ed by promptly depositing epositary. 37 Wall Street. issue to deposit. e hest conserv ork City, which will ing stockhol w matt their interests. Hol SAMUEL J._MARS) SRR foltene HALL, Chairman D. WEBB GRANBERRY. Committee. rt & Minard, g I -mur;x Sommerce Bids., Newark Counsel. Established 189 INVEST IN First Deed of Trust Notes 6% to 6%2% In Di i & Consute WELCH Reattors Loan Specialists 15th & N. Y. A Nation BIDS WANTED 5,000 Investment Bldg. 614s, '38. 5,000 Cavalier Apt. 64s, ‘4! 4,000 Fairfax Apt. 61s, 43, Phila. 3,000 :‘llflu Apt. 6l2s, '43, Pitts urgh. 5,000 Fll;fil Apt. 64s, 48, Buffalo. 10,000 Jefferson Apt. 6s, '39. 10,000 Corcoran Courts 7s, '35. WE BUY & SELL :\?uml .Tlrnukn:%l. Issues). 5‘.’ H. Smith Bonds. Guaranteed Realty Bonds. S. W. Straus Bonds. Accurate information and mar- they have a market we can find it. CAPITAL CITY CO. Droceedings are threatened | any. First Mortgage Loans In Arlington County and Alexandria, Vhllnhy Commonwealth Investment g Co., Inc. N.W. Phone Natfonal 2623 e Loan Cosrespondent for 'rudential Insurance Co. of America INVEST IN First Trust Notes ON HOMES ™ 6% & 6}% Interest Brodie & Colbert, Inc. 1707 Eye St. NW. Pa; First Mortgages Safe—Conservative Make your savings 41 Years’ and surplus funds work for you at Experience in finsncing the highest inter- est rate consistent oL g R ISR abaoluts iele of these bes curities. Wm H. Saunders Co., Inc. REALTORS. Dist. 1016 1433 K I WILL SELL $5,000 Fairfax Apt. of Washington 614%, 1943, Bid $5,000 Smith Bldg., 6%4%, 1937. Bid. 36,000 Overbrook ~Arms, 7%, 1936, Bid. uool Jefferson Apt. 6%, 1st Mort., $1,000 Chatham Apt. 1st Ref. 6%, 1931, @ 65. !l.Wll)“Arllnflo;l Apt. 1st Mort. 6%4 %, $3,000 Corcoran Courts 7%, 1935, @ 90. 100 North American Development “Escrow Certificates” @ 50. 19 Units Wardman Mort. & Dis- count 27%4. 20 F. H. Smith 7%4% ptd. Bid. 10 F. H. Smith 7% pfd. Bid. 10 International Bank @ 70. 500 Miller Train Control @ 60c. 100 Washington Base Ball @ 55. 10 Virginia Plate Glass V. T. @ 30. 50 Great National Insurance @ 14. 100 Vasco Products 8% pfd. @ 6. 5 Units International Finance. Bid. THOMAS L. HUME 1412 G St. Nat’l 1346, 1347 SAFE FIR ST SAFE AND SANE That is the simple truth, plainly stated, concerning the character and quality of our FIRST MORTGAGES They represent loans on income-pro- ducing local real estate, after conserva- tive appraisement—with a margin wide MORTGAGES enough to safely secure the principal. The interest will come with unfailing regularly exactly on the due date. May be purchased in amounts from 2250 up. Over a tional 2100 THERE Third Century Without a Loss B. F.. SAUL CO. IS NO SUBSTITUTE FOR SAFETY of a 925 15th St. N.\W. (o] nsured Mortgage \& Bongdsgf)/' \_/ THE IDEAL . INVESTMENT UNQUESTIONED SAFETY BECAUSE the Bonds of the Federal Security and Mortgage Company 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 Stas Government supervision. e and 3. Further guaranteed by the Federal Security and Mort- gage 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. 1522 K Street N.wW. CAPITAL & SURPLUS OVER $75