Evening Star Newspaper, February 6, 1930, Page 14

cA=14 F¥2 FINANCIAL. TRDE S8 [P * BY RESERVE BANK ~Prev. 1930.~ Wiim—s Stock and Dividend Rate. Kinney G R (1 1% Kolster Radio 381 Kraft PhCh (1 991 Kraft Ph Ch pf (6% 33 Kresge(SS)Co(1.60 61% Kress (SH) (1). ... 23% Kreuger&Toll (1.34) 42% Kroger Gr&Bak(nl). 21% Lago O1l & Tran 97 LambertCo (8)..... 6% Lee Rubber & Tire. . 37 _24 Leh Port Cem (2%). 75 7 T0% Lehigh Valley (14% 15 12% Lehigh Valley Coal.. 34 297 Lehn & Fink (3).... 27% 19% Libbey Owens (1) 105% 94 Liggett & Myers(5) Sharp Contrasts in Business! 44 Conditions in This Area Noted During 1929. Some sharp contrasts are brought out ; in the business and agricultural sum- mary of conditions in the fifth Fed- cral Reserve district, just published by the Federal Reserve Bank of Richmond, covering the year 1929, compared with 1928. Chairman Hoxton's summary says: Statistical Summary. e 1928. | its vi to indi- ual ac counts (24 cities) . " $16,851,260.000 $16,324,326,000 & .mber ot ‘com- mercial ‘Tail- ures, 5th dis- trict i @.abilities i n volved ;n fail jres. sth d Feiton consump- tion 5 41 64% 16' Lorillard (P) Co. 128 Loufs & Nash (7). 4 Louisfana Oil. .. 38% LouG&EIA (1%) 32% Ludlum Steel (2) 90 Ludlum Stl pf (6 40% MecCall Corp (2%) 654 McCrory A (2 91 McCrory pf (6). 85 McGraw-Hill (2).... 61 McK'port T P (t43%) 32 McKesson & Rob (2) 44% McKes & Rb pf(3%). 70 Mack Trucks (6).. 16 McLellan Stores. . .. 4 Macy(RH) & Co(n2) 12 Madison Sq G (1%). 45 Magma Copper (5).. 25% Man Elec Supply. ... 30% Man Elev mod (d5).. 20% Man Shirt (2). > 1% Market St Ry. 5 29% Marlin-Rockwl +41 . 20% Marmon Motor (2).. 37% Mathieson Alkill (2) 49 May Dept Strs (n2) 16% Maytag Co (12). 4 Maytag Co pf (3). Mavtag Co 1st pf(6) . 29 Melville Shoe (2). 83 Mengel Co pf (7) 16% Mexican Seaboare 267 Miami Copper (4)... 53 Michizan Steel (215) Mid-Continent P (2), Middle Sta ctfs (n). . % Miller Rubber. . 1,420 1,518 $24.705,654 $24,345.527 3,029,884 2,838,836 | { in is- trict " (bales) . . 1,624,000 1,604,000 | obacco " grown B St dis rict ” (pounds) » n 741.560,000 ildf 713,590,000 16,354 17.996 ew ork (32cities) aiue of _con- tracts award- ed. Sth dis- $104,480,968 $143,208.256 L St Tota, sales, 30 departmen t stores, 5th dis- tr ke ®tal saes. 69 whotesalers in Biunsinous coai production. U 8 %ons ... $384.926,005 $451,030,185 $104.985.200 $101,723.680 $68.503,112 $70,695.201 525,358,000 500,745,000 Examination of the above statistics, gays the Reserve Bank of Richmond, scows that total debits to individual, firm and corporation accounts in the banks of 24 cities were more than half B billion dollars higher in 1929 than in 13928, but it is probable that a consid- ierable part of this increase was due ito increased trading in securities last year. The number of commercial fail- ‘ures and the liabilities involved were ‘both less in 1929 than in 1928, and, in ifact, both figures last year were lower ithan for several years. Cotton consumption in the fifth dis- trict mills in 1929 exceeded the 1928 consumption, and the cotton crop of ‘the district was larger last year tnan in the preceding year. Tobacco pro- duction in the fifth district in 1929 ex- cecded the production in 1928. De- ‘partment store sales were larger last Lo than in the preceding year, and ituminous coal production ~exceeded that of 1928. On_the other hand, building permits #ssued for new construction last year ‘were less numerous than those of the ‘previous year, and valuation estimates { permits issued and of contracts ac- lly awarded were materially lower $han the corresponding .. ‘Whole trade showed declines in 3929 sales in every line for which data were .\r&f;fil‘;. hA&mough the district | grew a y er cotton crop last ear, the prices in 1929 were much! jower and the crop brought much less | money to the growers than the 1928 crops. Other farm prices were not ma- terially different from those in 1928 except the prices received for apples and Irish potatoes, in both of which the yields were lower than in the ear- lier year and prices advanced accord- . The Irish potato growers re- ceived approximately three times as much per bushel for the 1929 crop. [ormpston ers NEW YORK, February 6.—The fol- Jowing is today’s summary of important corporation gews prepared by Standard Sflflsfic':dco,, Inc., New York, for the 341 55% 105% 103 Mo Kan & Tex pf(7). 92% 87 Missouri Pacific. . 140 134 Missouri Pac pf (5). 40 36% Mohawk C Mills (3). 49 Monsanto Ch (g1%). 38% Montgomry Wrd (3) 3% Moon Motor: 584 Morrell J (3.60). 1% Mother Lode (40¢ 4% Motor Meter G& E.. 55 Motor Products (2).. 26% Motor Wheel (3).... 12% Mullins Mfg... . 18 MurrayCor (b2 %stk. 35% Myer(FE)& Bro (2). 51% 46 Munsingwear (t4) 58% b1% Nash Motors (6).... 197 190 Nash, Chat&StL(18). 25% 18% Nat Acme (1%). 15% 11 Natl Air Trans. 15% 9% Natl Bella Hess 214% 177 Natl Biscuit (7). 87 71 NatBisn (p2.80).... 83% 73 NatCash Reg.A(t4). 45% Nat Dairy (32 37% 29 Nat Distillers (2) 31 27% Natl Enameling (2).. 177 137 NatlLead (5)....... 117 116 Natl Lead pf B (8) 88% 82 Natl Pwr& Lt (1). 4 1% Natl Radiator... 1% 1% Natl Rys Mex 2d pf. 115 114 NatiSupply pf (7). 921% 70% Natl Surety (5) 41% 35% Nat Tea Co (2).... 32% 27% Nevada Copper (3) 58% 51 Newport Co A (3). 55% 40 Newton Steel (3) 46 44% NY Alrbrake (3 184% 167 N Y Central (8) 83'% 83% NY Dock pf (5). 324 180 N Y & Harlem (5). 116% 108% NY NH & Hart (6). 126% 122 NYNH&Hpf (7).. 15% 13% N Y Ont & West. 2 1% N Y State Rallway: 102% 100 - N'Y Steam pf (6).. 112 111% NY Steam 1st pf (7) 20% 16%, Nerfolk Southern. .. 2456 226 Norfolk&Westn(10). 106 93% North Am(b10%stk) 53% 51 North Ampf (3).... 51% 45 Nor Ger Llovd(3.41). 87% 84% Northern Pac (5) 86 821% North Pacct (5). 49 42 Northwestn Tel (3) 7 Norwalk Tire & Rb. 9% O11 Well Supply..... 23% 13% Oliver Farm Equip.. 81% 70 Olivr Fr Eq pf A(6).. 42 31% Olivr Fr Eq cv pt(3). 3% 2% Omnibus Corp. .. 321 280 Otis Elevator (6).... 36 30% Otis Stee] (23).. 52Y% Owens 111 Glass(n4). 17% Pacific Coast 1st pf. . Pacific Coast 2d pf. . 52% PacificGas& E (2).. 72 Pacific Lighting (3). 21 .Pacific Mills. 1 Pacific Oll stub: 15% Packard Motor (1) 50% Pan-Am PeteB...... 4% Panhandle P& R 48% Paramount-F-L (3). 2% Park Utah.......... 17% Parmelee Trans 1%. 2% Pathe Exchang 5 Pathe Exchange A. 28% Patino Mines (3.89) . 614 Peerless Motor Car 26% Penick & Ford (1). 63% Penney (JC) (2%) 93% Pen (JC) pLA (6)... 6% Penn Dixie Cement 30% Penn Dixie Cemt pf.. 72% Pennsylvania RR(4) 230 People’s Gas Chi (8). 95 Pere Marq pf (5) 18% Pet Milk (1%).... 38% Phelps Dodge (3) 50% Phila Co 6% pf (3) 11% Phila& Read C& I 24% Phillips-Jones (3). 8% Philip Morris (1).... 31% Phillips Petrm (n2). 21% Plerce-Arrow A 20% Plerce Ofl pf.... 2% Pierce Petroleum. ... 45 Pirelli Co A (2.88)... . 70 Pittsburgh Coal. .... 151 Pitts F W&C pt (7). 17% Pitisbgh Screw 1.40. 20% Pittston.Company. .. 27% Poor & Co (B) (2). anBaa PO 3.3 ons I News Trend. Midweek trade reviews point out cur- fent production schedules denote fur- ther continued improvement in steel Le.qukemen'.s. Automotive specifications ve declined somewhat, due to lower production schedules for February by some manufacturers, This falling off, however, is.expected to be offset by the :rgdes first-half demand from the rail- a Outstanding corporation news of the @ay was the announcement of the for mation of European Electric Corpora- tion, Limited, international public aitility holding and management com- pany, to acquire and develop electric memu in principal European coun- The Companies. American Radiator & Standard Sani- m 1929 sales off 3.1 per cent from American Gas & Electric earned $5.99 common stock in year 1929, against goz in 1928, Bickfords, Inc., January sales up 12.2 per_cent over year ago. Chrysler Corporation January sales fp 50 per cent from December. De Forest Radio application for re- Reiver dismissed. European Electric Corporation, Limit- &d, new public utility holding and man- agement company formed to acquire and develop electric power properties in seven European countries, valued in ex- eess of $26,000,000. Dry Ice Corporation—Court of Ap- ‘peals rules company has exclusive right 1o use patents for refrigerated transpor- tation package in which refrigerant is #olid carbon dioxide; injunction and ac- counting against Carbice Corporation granted. & General Outdoor Advertising earned $1.83 on common stock in year 1929, Bgainst $3.33 in 1928. B. F. Goodrich Co. preliminary earn- | $ngs $4.85 on common stock for 1929, wgainst §150 in 1928. | W. T. Grant Co. Jafhuary sales up!| §3.6 per cent over year ago. 12 P Rican Am To (B).. i FILM EXPORTS INCREASE.| 48y Prairie OSG (123%).. | 58 Prairfe Pipe L (15) | 7% Pressed Steel Car. .. : 52 Pressed Stl Cpf (7). 52% Proc & Gamble (2).. 811; Public Serv, NJ 3.40. 106% Pub Sve NJ pf (6)... 143 PubSve NI pf (8)... 107% Pub Sve E&G pf(6). . 121 PubSve NI pf ()... 82% Pullman Corp (4). 22% Pure Oil (1%). 3% 112% Pure Ofl of (8) % 77 Purity Bakerles (4). % Radio Corp. Radio pf A (3%) Radio-Keith-Orph A Raybestos Man 2.60. Reading (4). .. Reading 1st pf (2) 47% Reading 2d pf (2). 44% Real Stk (5). . 2 88 Iteal Silk Hos pf (7). 50s 3% Reis (R) & Co { 4 - o @ 2 TETSS 1P JYOT- [P YOI 1~ (OO Wotal of 282,215,480 Feet Shipped for New Record. Exports of motion picture films from the United States in 1929 amounted to about 282,215,480 feet, setting a new record and exceeding previous Fecord in 1919 by about 9,000,000 feet, Bccording to N. D. Golden, Department pf_Commerce. Declared value of negative and posi- Rive films exported was $7,622,316 fo 8920, against $6.727,084 for 1928. i clared value means little since it is the earnings of the films abroad that is| the important item. | There is no Teason to believe greater | difficulties will be presented in 1930 | than in 1929 by legislation attempting %0 restrict importation of American | #ilms, said Mr. Golden. Basis for be-| Jief is that much inconvenience is caused foreign distributors by such pro- als. French exhibitors, for example, | m much through refusal of Americans to make contracts for a period while treatment of United States films re- 2 mranSomGarn 33 27 . 208 25 233 it 140 81 30 Reis (Robt) & Co pf. | 35% 25% Rem Rand (50c). 1. | 10% Reo Motor Car (.80). 137 72% Repub Ir & Steel (4). 4 107 RepIr&Stipf (.. 1 102 Revere Cop&B pf(7) 108 (Continued From Page 13.) e . High. Low. Close. 220 20 20 3 98 ~Prev 1930.~ High. Low. 4 2% Y% & qacagaaccaag nunlnunnnn Virgini Wess Wi d in_stock. T4% | € 4 110% 110% | stoc) 102 102 | Gt Sleekhoiders 102 Stock and Dividend Rate. Reynolds Spring. Reynolds Tob A ( eynolds Tob B (3). hine W EI P (2.16 Richfield O (2).... 4 Rio Grande Oil (2).. % Ritter Dent Mfg (13) 4 Rossia Inc (2.20).... Royal Dutch (a3.20). 19 Rutland pf. e Safeway Stores(e5) 1 (6 U S Smelt Ref pf 3%. U S Steel (7).... U S Steel pf (7)...... Univ Leaf Tob (3). Univ Pipe & Rad.... Utll Pwr&Lt A (e2)+ Vadsco Sales Corp Vanadium (14). Vick Chemical ( Virginia-Car Chem. . NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. Pro Close. Y 2% Saf P! St Joseph Lead Seaboard Air Line pt. Sears Roebuck (323%) Seneca Copper Servel Inc.. Sharon Steel H (2). Sharp & Dohme. . % Shattuck(FG)(t1%4) Shell Union (1.40)... Shubert Theatres. Stmmons Co (g3) Simms Pet (1.60 Snider Packing p! So Por Rieo Sug (2) Southern Cal Ed (2). 4 Southern Pacific (6). Southern Rwy (8). Southern Ry pf (5). Spang-Chalfant..... Spang-Chalfnt pf(6) Sparks Withngtn(1). Spicer Mfg...... Splegel-May-St (3). Stand Brands (134). Std Brands pf (7)... Stand Gas & E1 (3%) StandG&Epf (4).. 2 Stand O of Cal (234). Stand O1l £xpt p£(5) Stand Ol N J (12)... Stand Oil N Y (1.60). % Stand Plate Glass. .. Starratt (L S) Co(2) 4 Sterling Sec A.. Sterling Sec pf( % Sterling Sec cv pf(3) Stewart-War (h3%). Stone & Webster (2). Studebaker Co (5). . Studebaker pf (7) % Submarine Boat Sun Ol (11) Superior O11 . Superior Steel..... Sweets of Amer (1) Symington (A). Telauto Cp (11.25). .3 Tenn Cop & Ch (1). Texas Corp (3). ‘Tex Gulf Sul (4). TexPC&O (b10%) ‘Texas Pac Land Tr.. Thatcher Mg (1.60) . Thompson J R (3.60) Thompson Starrett. . Tide Water Asso 60c. ‘Tide Wat Asso pt (6) Tide Water Oil pf(5) Timken Det Ax 180c Timken Roller (3) ‘Tobacco Products. ‘Tobacco Produc Transcontinental Oi Transue & W (1).... Trico Prod (23%). . Twin City Rp T (4) Und-Ell-Fisher (5).. Union Carbide (2.60) 11 Union Oil of Cal (32) Union Pacifie (10)... Union Pacific pf (4).. Utd Paperboard. . Utd Atrcraft& Tran: Utd Aircraft&T pf 3. Utd Biscuit (1.60) Utd Biscuit pf (7) Utd Carbon (2) Utd Cigar Stor Utd Corporation % Utd Corp pf (3). United Elec Coal. United Fruit (4)...: Utd Gas & Imp(1.20) 28! Utd Gas & Im pf (5). Unit Piece Dye W (2) United Stores A. U S Distributing. U S Express........ U S & Foreign Secur. S & For Sec pt(6). Frelght (3)....., Ind Alcohol (17). 20s 3 3 13 180 1 80 39 6 314 20 1 1 24 10 15 20 53 8 30s 20) o - N o ) T T T I OTSP I =TI PRI CIT cPAITES. T0 - e ] 5 < 3 BEmnparmBriramsane o eam % pL.. Car § Va E1 & Pwr pf (6). Vulcan Detinning. Vulcan Detin A..... Vulcan Detin pf (7). Wabash.........e.s Waldort Systm (1%) Walworth Co (2).... 2 108 4 6 22 Ward Baking pf Warner Bros Ple (4). 350 4 War Bros P pf (2.20) Warner-Quinlan (2). Warren Bros (19)... Webster-Eisenlohr. . Oll & Snow (2) O&Snptf (4).. 2 20 Westn Dairy A (4).. Westn Dalry (B).... Western Maryland. ., Western Md 2d pf... Wi Westvaco Chlor (2). Wextark Radio (2).. White kagle Oll (2). White Motors (2)... White Rock M 8 (14) White Sewing Mach. White Sw Mch pt (4) Wilcox Rich, B (2).. Willys-Over (1.20).. Willys-Over pt (7).. Wilson & Co. . Wilson & Co A, Wilson & Co pf. Woolworth (2.40)... Worthington Pump.. Worth Pump A (7).. Worth Pump B (6).. Yellow Truck & C. Yellow Truck pf Young Spring (3)... Young Sheet & T (5). RIGHTS EXPIRE Am R Mills. .June 15 Balto & Ohio.Mar 11 Col Carbon..Mar 11 % Erie RR.. Sales of Stocks on New Y 1,600 4 5 15 . Feb 28 155 61 . 2,626,800 Dividend rates as given in the above table are the annual cash on 'the latest quarterly or half yearly nit of trading less than 100 shar A § Payable in scrip. year—no regular rate. b Payal Payable_in cash or Plus 2% In stoc) i i stock. 1 Plus % declarati; 00 sh: Partly extra, 3 Blus tock. a Fald stoc] K. a 3 k. s 10% " in stock § Plus 8% 1n stock. & Blus 3% in suck. stock. p Subject to approvai mained unsettled. Wiring of theaters n foreign coun- tries for use of talkies is going along yepidly, Mr. Golden said. MANY INSURANCE MEN HERE FOR CONFERENCE Officials and agency managers of the Mutual Life Insurance Co. of New York Jo. for the first half of its fiscal yearlwnwwd in the Hotel Mayflower today 'nding June 30 are estimated at about!for sessions lasting through Saturday 5400,000 in excess of the previous year.| About 80 agency managers are to be ICn that basis the company should earn | present at this annual meeting. considerably ‘more than the $3.34 a' David F. Foustan, who ‘ws_both |share shown in its last annual state- Secretary of iculture_and retary et of the Treasury in the Wilson cabinet,' “Davison Chemical Co. BALTIMORE, February 6 (Special). Net profits af the Davison Chemical is president of the company. He arrived in Washington last night. This is the oldest legal reserve mutual life insur- ance company in America, having be- gun business on February 1, 1843. George K. Sargent of New York City, second vice president and manager of agencies, is presiding during the busi- ness sessions. METAL MARKET. NEW YORK, February 6 ().—Cop- por quiet; electrolytic, spot and future, 18, Iron quiet, unchanged, Tin steady; spot and nearby, 39.25; future, 39.75. Lead steady; spot, New York, 6.25; East_St. Louls, 6.10. Zinc steady; East St. Louis, spot and future, 5.25a5.30. Antimony, 8.75. FORD JANUARY OUTPUT. NEW YORK, February 6 (#).—World production of Ford cars and trucks last month totaled 98,529, of which 46,784 were produced in the last 10 days of the month, compared with 22,066 units during the first 10 days. The February daily production schedule is 7,000 cars. .| Spectal Dispatch to The Star. Sou Ice & Ut |BALTIMORE CAR FARE |BIG OUTLAY PLANNED ATTACK IS PLANNED| ‘BY BEACH RAILROAD People’s Counsel Will Oppose 10- Chesapeake Company to Spend Cent Charge, Which Is Now Operative. BALTIMORE, February 6.—A new at- 21 | tack on the 10-cent fare is being organ- ized and it is likely to be launched be- fore the new peak car fare, which went i effect today, is six months old. mc’lqhz new fight, which. will be in the hands of John H. Lewin, people’s coun- sel of the Public Service Commission, is to be built up around a demand for a revaluation of the street car company’s property in the hope of striking $15,- 000,000 or more from the present valua- tion, thus boosting the percentage of profits and bringing about a possible reduction in the rate of fare. ‘According to lawyers and others who % | have taken part in the long controversy ver the dime fare. the new line of gtgck had its inspiration in remarks made by Justice James Clark McRey- nolds of the United States Supreme Court when the car fare case was before at body. mAt thn{ time Mr. Justice McReynolds asked Charles Markell, chief of the United Rallway's counsel, at what amount the street car company’s total Valuation was then set. Mr. Markell told him that valuation fixed by the Public Service Commission, and on which the United earned less than 5 per cent in 1929, was $75,000,000. “At what time was that valuation | found?” Mr. Justice McReynolds asked. Mr. Markell told him that it was fixed by the Public Service Commission as of December 31, 1924. “Of course, everybody knows that street railway valuations have fallen off since then because of their declining patronage,” the jurist commented. s DIVIDENDS DECLARED. NEW YORK, February 6 (#).— Company. Belden Mg C Ark Pub Se: C Pub Ser $6 . Bd RR pf A.ll.fl”; Crown Overall pf.. $: Crum & Forester A.25c Do B 25¢ 75 1. /$1:50 “pi d3tic Do _pf Ind Ser 1 6% pf. $1.50 Libby_Owens' Giass. 35¢ Nat Wat W A25¢ Do_pf A 8ilac 0il Roy T Okla G & E pf...s1.7 Rainier P & P A Do part pf ... Truscon Steel pf W Ohio_Gas pf Will & Gibbs 8 2000000020000000000 000D: ] Initial. Employers Gr As..25c Q@ Mar. 15 2 Omitted. Wahl Co pf...$1.75 ACC™ Due Apr. Deferred. Vorclone Corp pf..70c Q Due Feb. : Money to Loan See b t deed of trust on real estate. Prevailing interest and. commission: Joseph L. Weller £33k 5 § %! Councilor & Buchanan Certified Publie Accountants Wm. Gordén Buchanan Tower Bullding National 611061116213 (Telephone Directory Omission) ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 63rd Issue of Stock Now Open for Sabscription Shares of Stock, $1.00 Each Payable Monthly James E. Connelly James F. Shea President Secretary First Trust Money Available JAMES F. SHEA 643 Louisiana Ave. N.W. Secured by First Mortgages Safe—Conservative 42 Years' Make your savings work for you the highest inter- st Tate consist- ent with absolute safety. Wm. H. Saunders Co. Inc. REALTORS Dist. 1015 1433 K 1800 1929 ALEX. BROWN «* SONS £ Underwriters - Distributors INVESTMENT SECURITIES Wasningron Orrics 737 15th Street N. W. Telephone, National 109y —— Marmn Orrics - Bartimon FINANCIAL. J-A- . Iglehart & Co. $2,000,000 at Resort in 1930, Investment Banhers Manager Asserts. Col. Lee H. Landis, general manager of the Chesapeake Beach Railway Co., announced today that his company is planning the e: diture of $2,000,000 during 1930 at Chesapeake Beach and vicinity, expressing the opinion that construction is likely to carry on very well in this section this year, except | for office buildings and apartments. | “The Chesapeake Beach Railway Co." | he said, “is spending about $2,000,000 on improvements at Chesapeake Beach the new amusement park to be built there replacing the Ykmm concessions along the boardwalk—which will be torn down—and on the new ferry to Cambridge, Md., which will be put into service as soon as possible if and when permission is obtained from the Inter- state Commerce Commission.” } o | | | WE TAKE PLEASURE IN ANNOUNCING THAT MR. DONALD M. NIXDORFF MR. CHARLES D. CARROLL MR. HORACE C. HAINES HAVE BECOME ASSOCIATED WITH OUR WASHINGTON OFFICE — 719 FIFTEENTH STREET PARIS BOURSE PRICES. PARIS, February 6 (#).—Prices werc weak on the Bourse today. Three per cent rentes, 88 francs 95 centimes. Five per cent loan, 101 francs 50 centimes. Exchange on London, 124 francs 3!, centimes. The dollar was quoted at 25 | francs 50% centimes. 8. S. Kresge Sales. NEW YORK, February 6 (#).—Jan- | uary sales of the S. S. Kresge Stores totaled $9,351,732, compared with $9,- 018,933 in January, 1929, an increase of $332,798, or 3.7 per cent. On January 31 the company had 584 stores in op- eration in the United States and 20 in Canada. J. A. W. IGLEHART & Co. MEMBERS NEW YORK STOCK EXCHANGE EN YORK CURB (ASSOCIATE) ALTIMORE STOCK EXCHANGE RICHMOND STOCK EXCHANGE SALTIMORE, MD, ' WASHINGTGON, D. RICHMOND, V/ eLAl URG, CHARLESTON. W: VA. SILVER QUOTATIONS. YORK, Fel Bar NEW bruary 6 sllver, 43%: Mexican dollars, g‘:‘é Established 1899, MONEY TO LOAN AT 6% INTEREST Before PI. o D Sa freane Your Consult WELCH Realtors Loan Seepialists. 15th & N. Y. Ave. N.W. National Savings & Trust Building Reasonable Charges Extras Refinancing at 3% | | | L offers the advantages of a longer loan term, and a lower interest rate . . May we prove to you, in detail, the substantial savings possible through five and one-half per cent financing. Diversification reduces the possibility of loss to a minimum DIVERSIFIED TRUSTEE SHARES Series C —represents broad di- versification as to types of business and geographical location. The portfolio of this conservative invest- ment trust comprises common stocks in fifty leading American corporations. Write for complete information Waggaman, Brawner & Co. INC. -® Loan Cflllufpofmlent for “The Prudential” Prompt approvals — Valuable prepayment privileges — Three year loans on newer properties without amortization. H. L. Rust Company 1001 Fifteenth Street National 8100 BI8T (K BYL 18 'H'B D 1 8 89 Investment Bankers 1700 Eye Street N.W. Wi D. C. 3860 MERICA feared “the bot- tom had dropped out” in 1920—business men, spec- ulating on futures, had bought large stocks . . . and suddenly the era of sky-high war prices ended, “Frozen credits” loomed like a thunderhead on the horizon ...But then a remarkable thing happened—all over the country, necessary building projects, halted by the war and retarded’ by post-war specula- tion, began to be pushed . . . new markets, new resources were opened . . . Business in 1922 “came down to earth.” Likewise today those men who saw the “big bull market” as a danger signal, and not a beckoning hand of fortune alone can think calmly of the “Crash of ’29.” They had invested in sound, non-fluctuating securities based on the foundation of American prosperity—develop- ment of the land. Recognized as leaders among such securities are the 6 per cent First Mortgage Notes is- sued through Swartzell, Rheem & Hensey Company — Notes based on fully investigated real property in Washington with a record of nearly 61 Years With- out a Loss in Interest or Prin- cipal to Any Investor. SWARTZELL. RHEEM anp HENSEY co, MORTGAGE BANKERS 727 IS STREET .N.W WASHIN.GTON.D.C. From the days of 1790 depicted in the first of this series of advertisements describing our Critical Periods in Prosperity — to the days of 1930, the country’s prosperity has always been based on this factor: develop- ment of land and resources. In Washington today, there are particularly attractive oppor- tunities for the wise investor . . . statistics show a greater necessity than ever before for new housing facilities—all to be financed by sound First Mortgage Notes.