Evening Star Newspaper, February 21, 1930, Page 13

FIRANCI AL, "Tee——" « INSTITUTE DINNFR ~ TOATTRACT MANY “Prominent Bankers and Financial Leaders Will At- tend Annual Banquet. BY EDWARD C. STONE. Among the prominent bankers and Other leaders In business and profes- sional life who have accepted invita- tions to attend the twenty-sixth an-| nual banquet of ‘Washington Chap- ter, American In- stifute of Banking. tomorrow night at the Willard, are the following: Roy A. Young, e Federal ¢ Board; W. ‘W. Hoxton, chair- man of the board, Federal Reserve Bank, Richmond: Edmund Platt, vice vernor, Federal egerve Board; George R. James, Federal Reserve Board; W. O. Wood, Treasurer of the United States; Sidney R. Talia- ferro, District of Columbia Commis- sioper: Charles J. Linthicum, Repre- | sentative from Maryland; Admiral T. J. Cowie, U. S. N.; Postmaster W. M. Mobney; Merle Thorpe, editor, Nation's Business; R.‘W. Byers, chief national bank examiner: Lloyd B. Wilson, presi- dent, Chesapeake & Potomac Telephone Co., and Waldo Newcomber, chairman, Baltimore Clearing House Association. Willilam J. Evans, national president of the American Institute of Banking, will be the leading speaker. Mr. Evans is & native of Tennessee, a graduate of Union University, member of the bar, and now lives in las, Tex. He has been prominently connected with bank- circles in the Texas city and with W. J. Evans. the bank’s monthly review of and industrial conditions. Mr. Evans became connected with the Dallas chapter of the institute in 1911 and became president of the chapter after completing all the courses offered. He became so interested in the work that he has attended 11 national con- , served on the executive coun- organize ped five new chap- ters in the Southwest. He was elected president at the Philadelphia_con- vention in 1928 and president at Tulsa last July. He is an unusually inter- est The tions gzmmlltlu:i \g‘ fl;}ch Miss 5. Winifred Burwel e Na- tional itan Bank is chairman, has. designed an elaborate decorative scheme commemorative of the occasion of George Washington's birthday. ‘The ideas for the attractive posters the banquet and the pro- the spirit of 76 rcial National Bank, the former having been designed by Robert G. ‘Whitton t National Bank a member of this| Bankers on Chief Committee. T. Hunton Leith, assistant cashier | of the Security Savings & Commercial ‘Bank and member of the national ex- ecutive council of the institute, is gen- | ‘eral chairman of the banquet com- mittee, and assisting him are the fol- 1 Frank M. Perley, American “& “Trust Co., and Lois Al ‘White, Federal- American National | Bank, vice chairmen; Mabel V. Royce, ‘Washington Loan & Trust Co. secre- tary; Robert E. Lee, Lincoln National | Bank, treasurer: H. W. Burnside, 1. J. Roberts and Esther R. Lau. Riggs Na- tional Bank; S. Winifred Burwell and Willam G. Winstead, National Metro- litan Bank; W. A. Cady, Henry F. imball, A. W. Sherman and Mildred C. Woodcock, American Security & ‘Trust Co.; F. H. Cox and J. Eng- lish, ! National Bank; John M. De Marco, Seventh Street Savings Bank; Aubrey O. Dooley and Walton L. Sanderson, Federal-American Na- tional Bank; Robert H. Lacey, Colum- bia National Bank; T. Edward Norris, Mount Vernon Savings Bank; Richard A. Norris and James A. Soper, Lincoln National Bank; Robert A. Sisson, Wash- vings Bank; Alice H. Whitton and Robert G. Whitton, Pirst National Bank of Alexandria. Exchange Leases New Quarters. ‘The Washington Stock Exchange has Jeased a new home. Members were in- formed at today's session that quarters have been secured in the Washington Building and the organization will move | o the new location about April 1. The deal was completed yesterday by 8 special committee consisting of George ©O. Walson, president of the Liberty Na- tional Bank and head of the Exchange; Eugene E. Thompson, senior partner in Crane, Parris & Co, and Edward L. Hillyer, vice president of the Union ‘Trust Co., with Weaver Bros., managing agents of the buildfhg. The committee has been scouting about for some time for a new home for the exchange, following announcement 3 the American Security & Trust Co. the intention to erect a large annex to the present bank on Fifteenth street. The committee finally narrowed the offers down to two, the new Shoreham Building and the Washington Building, | both located in the heart of the financiai | district. The committee in selecting the Washington Building, took a lease for five years with the opportunity of re- | newal for dhother five years at the Bame rental, if desired. The Exchange will use practically 1,000 square feet on the sixth floor of the building. The Exchange has been located in the American Security & Trust Co.’s build- ing at 728 Pifteengh street for some 10 years and before that was on F street. The Exchange will be 50 years old later during the present year. New Listing Appears on Board. ‘The first trading in the recently listed Emerson’s Bromo Seltzer class A stock took place on the local Stock Exchange today, 10 shares changing hands at 33, Beven shares of Capital Traction sold at 86, Washington Gas Light registered 110 and Peoples Drug Stores preferred 10312, while several other small-lot tions were also recorded. Bonds ‘were steady. The exchange will be closed tomorrow on account of Wash- ington's birthday. Perpetual Elects Director. At the regular monthly meeting of the board of directors of the Perpetual Building Association, Dr. Wiliam G. Schafhirt was elected a director to fill the vacancy in that board. Dr. Schaf- hirt has long been identified with the hel‘li\ml.l and the financial life of city, Heard in Financial District. ‘The officers and directors of the In- ternational Exchange Bank fendered President Fernando Cuniberti a sur- prise dinner at the Madrillon last eve- ning, the occasion being the second annjversary of his election as head of the institution. Thomas W. Brahany, of Crane, Parris & Co., has returned from a two week visit in Cuba. He was accompanied by Jack Bowie and while there saw G. Bowie Chi) and several other were visiting L. Starkey. president of the National Bank of Washington, is im- proving steadily from a very severe is back at the bank for a rican Telephone & Tele- . has echug regular ;'3.5. d lend of $2.25, payable March 14, Notice—All stocks are s0ld in one-hundred share lots | ~Prev. 1930.~ excepting those designated by letter s (::;’) (283s), [ High. Low. shows those stocks to whicl THE EVENING STAR, WASHINGTON. NEW YORK STOCK EXCHANGE | Recelved by Private Wire Direct to The Star Office. the be sold in odd lots Sales of Each Stock Compiled to 13:30 P.M. ~Prev. 1930.~ Low. 22 4 234 114 Ll 4 Am&Forn Pwr 2d pf, Stock and Sales— Dividend Rate. = Add 00. High. Low. Close. Abitib) Power & Pap. 2 30 Abraham Strauss. .. Adams Expr (1 Alr Reduetion (3)... Alr Way El Ap(2%). Albany I W Paper. Alleghany Corp. .. Alleg Corp pf (5% Allied Ch & Dye(n! Amal Leather pf Amerada Corp (2). Am Agricul Chem, Am Argicul Ch pt. Am Beet Su; Am Beet Su, Am Bosch Ma & Am Brake Shoe(3.40) Am Brown Bov Elee, AmCan (4).. Am Can pf (7). Am Car & Fdy (6)... Am Chicle Co (123). Am Com Alco(n1.60) Am European Sea. .. Am & For Power. Amé&Forn Pwr pf(7) 14215 80 48% 274 45% 44T 96% 107 107 9815 9815 26 2 4% 5T% 36 A2% Am Hawallan S S (3) Am Hide & Leather. . Am Home Prod(4.20) Am IceCo (14) Am laternation: Am La F & Foamite,. Am Locomotive (3)., Am Mach & Fdy (7). Am Metal (3) Am Piano.. Am Plano pf. 13 Am Power & Lt (31) 2 Am Pow & Lt pf (6). Am P&L pf A st (5). Am Ra&Std San 1%.. 2 Am Republies....... Am Roilling M1ll (2), & Am Sm & Ref (4).. Am Snuff Co (13%) Am Steel ¥dy (3) . Am Stores (Z)..... Am Sugar RIg ( - REERanmmnn 3 3 994 1 Lo [ RN o Am Tobaceo (B) (8). Am Tobacco pt (6).. Am Type Fdry Am Water Wks (n1) Am Water W 18t(6). Am Woolen. .... Am Wdolen pf. Am Writ Paper ctf; Am Zine Ld & Sm... Anaconda Copr (1).. 1 Anchor Cap (2.40). Andes Copper (3) Archer-Dan-M (3). Armour Del pf (7) Armour 111 (A) Armour 1l (B) Armour 111 pt (7). Arnold Constable Art Metal Const ( Asso Appl Ind (4). AU G & W Indie Atl Refining (12) Atias Powder (4).. Auburn Auto (§4) ..u Austin Nichols. ..y s Autosales........e0 Aviation Corp Del... Baldwin,Loco (1.76). Baldwin Loeo pt (7). Baltimore & Ohlo (1) 12 Balto & Ohio pf (4).. 2 10 Bang & Aroos pt (7). 10s Barnsdall, A (), 11 Bayuk Cigar (3)... 2 s 4 Bayuk Cgr 1st p£(7). 20, 4% - 4 Beatrice Cream (4).. Bendix Aviation (). Best & Co 12) Bethlehem St Bon Ami A (4). Booth Fisheri Borden Co (k3) Borg Warner 2 18 4 Brockway M T. L (7). Bklyn-Manhat ( Bklyn Union Gas (5) Brown Shoe Co (3). Bucyruscv pf (33%). Bueyrus pt (7)...... Budd (EG) Mfg (1). Budd Wheel (1) Bullard Co (1.60) Bulova Watch (3). Burr Add Mach (1) Calif Packing (4) Calumet & Ariz (6) 29 ~Calumet&Hec(ad%). 19 63% 187 27 Campbell Wyant (2). Canada Dry G A (5).. Canadian Pac (10)... Cannon Mills (2.30)., Case (J 1) (6)... 10 2 Case (J I) Co pf (7). 4708 Caterpillr Trac t3%. 12z Celotex (3)..c.c0uve 45 Cent Alloy Steel (2). Cent Alloy ctfs (2).. Cerro de Pasco (6).. Certain-teed Prod. Checker Cab (4.20) Cl Ohio ( Chesapeake Corp Chi & Alton Chi & Alton Chi Mill 8t P&Pac pt Chicago & N W (5, Chi Pneu Tool. . Chi R 1 & Pac pf (6). ChiR 1& Pae (7).... Chi StP Min&Om pt. Chiids Co (2.40).. Chrysler Corp (3). City Stores (1). Clark Equipment (3) Cluett Peabody (5) Coca-Cola (4) Collins & Alk Columb Graph (87¢). 3 Columbian Carb (16) Com Credit (2). Comm Credit A (3).. 3 4 Com Crd 1st pf (6%) 10s Coml Inv Tr (§1.60). 10 Com Inv Trpf (6%). 6 Com Inv Tr pf (7)... 208 ‘'omm Solvents ($1). 167 Comwlih&Sou(60e). 163 Comm & Sou pf (6) 3 Conde Ni 1 Congoleum-Nairn... 14 Congress Cgr (16%). 2 3 Consol Gas N Y (4) Consol Gas NY pt (6 Consol RR Cub p£(6) Consol Textile. Container Cor A 1.20 Container Corp B Continental Motors, Contl Oil of Del, Contl Shares (1).s0e Corn Prod (13%). Corn Prod pf (7) Coty, Inc (k2). Cream of 2914 25 18% 6% 26 % 36, 48% 50% 14 1847 141% 79% 431 28 46% 94% 107% 981 26 9 16% 100% 131 117% 2613 212% 374 62 105 66 109% 9% 57% 99 102 44 63% 25% 71 25 Stock ana Sales— Dividend Rate. Add 00. High. Cuba Co. 1 Cug Curtiss Wright Corp. Curt Wright Corp A. Cutler-Hammer..... Davison Chem. Deere & Co pt (7). Delaware & Hud (9). Del Lack & W (17).. Denv& RG W pt. Detroit Edison ( Devoe & R. A (2.40 Diamond Match (8 4 Duluth S'S & Atl pf. Duplan SHk (1)..... Duplan Siik pf (8) Du Pont de N (14.70) Dupontd N deb (6).. Estn Roll Mili(ht2)., Eastman Kodak (18) Eaton Axle & 8 (3)., Eitingon pf (6%). Elec Auto Lite (6) El Pwr & Lt (1), El Pwr & Lt pf ( Elec Storage Bat ( Emmerson-Brat A, . Eng Pub Serv (21).. Eng Pub 8Sve pt (5).. Eng Pub Sve pt (5%) Equitable Bldg (3%) Erte RR.. .o 1 Evans Auto L($3%). Fairbanks Morse (3) Fash Park Asso (3% Fed M &S pf (7).... Fed Motor Tr (80e).. Fed Wa Ser A 2.40.. Fid Pho Fire 1(3. Filene's pf (6%) Firestone T&R pi 1008 37 Fi Fisk Rub Florsheim Follansbes Bros (3). Foundation Co. . Fox Film A (§4). Freeport, Texas (16) Gabriel Snub A, Gen Am Inv pf (6)... Gen Am Tnk Car($4) Gen ASphAlt (€)s.ne Gas&El A (te2 Ital Ed w.1. Motors pf (T)... Outd Ad vto (2). Gen Publie Serv (b§) Gen Ry Signal (6)... Gen Theat Equip vts Glllette Saf Raz(nb). Gimbel Brothers, Glidden Co (h3), Gobel (Adolf). Gold Dust (23%). Goodrich B F (4) Goodyear Tire (5)... Gotham Silk H (2%) Gould Couple: Graham-Paig: Graham-Paigect. ... Granby Copper (8). .. Grand Silver Strs (1) Grand Union. ....... Grand Union pf (3).. Grt North pf (5).. Grt North pf ct (5).. GtNctfsOP (a3}). Grt West Sug (2.80). Grt West Sug pt (7). 60s Grigsby Grunow (3) Guilf Mo & North. Guif Sta Steel (4). 6 Hackensack W (1%) 140s Hackensck W pf 1%. 20s Hann Dept Stores Wi Hahn Dept S pf(634). Hall (WF) Ptg (m1) Hi M A) 1st (7) Hanna pt (new) (7). Hartman Corp B 1.30 Hayes Body......... Helme (Geo H) (17). Hershey Choc (5). ... Hershey Choc pf(15) Hershey Ch pr pt(6) . lioe (R) & Co. & Holland Fur . Houdallle Her B (3). > - BN ROROATRANN ma~ Howe Sound (14%) .. Hud&Man Ry (3.50). Hudson Motor (5)... Hupp Motor (£2).... Illinots Central (7).. Independ Oil & G (3) Ind Motor Cyele..... Indn Motorcycle pf. . Indian Refining. Indian Refining Interboro Rap Tran., Interlake Iron (1).., Intl Cement (4). Int Comb ZRwranoan e « Int Hydro El A (e2). Intl Mateh pt (4).... Int Nickel of Can (1) Intl Pap & P A(2.40), Intl Pap & Pwr B Intl Pap & Pwr C. Intl Rys Cent Am. Intl Rys Cnt A et 1 JOTOI ) e 23 PESI=TH- P Jones & Laugh pf(7) Jordan Motor Car... Kreuger&Toll (1.34). Kroger Gr&Bak(nl). Lehn & Fink (3)..... Libbey Owens (1)... Liggett & Myers(15) Liggett&Myrs B(15) Link Belt (2.60)..... % Liquid Carbonie (4)., Loew's, Ine (3).. Loft, Ine. Loose-Wiles (2.60) i 4 Loose-Wiles 1st (7). 50s Lorillard (P) Co..... 1 Louls & Nash (7). 1 Louisiana Oil..... 7 LouG&EIA (1%).. 73 Ludlum Steel (2).... 6 MacA & Forb pt (6). 1008 Melntyre Porc M(1). McKes & Rb pf(3%). MeLellan Stos Macy (RH) & Co(n3). Magma Copper (5).. Man Elec Suppl: Man Elev mod (d5) Man 8hirt (2)....... Manhat Elev gtd (7). 20, Market St Ry prpf.. Marlin-Rockwl 143 ., Marmon Motor (2) Martin-Parry. .. Mathieson Alkili (3). 1 May Dept Strs (n2). Mengel Company (3) @ pepmaSanane EE-TINTore (Continued on Fage 140, 40% 41% 22% 224 103 103% 8 8 73% 1 | Joseph 1. Weller D. C, FRIDAY, FEBRUARY 21, RALLY IN STOCKS MET BY OFFERINGS Four Per Cent Money Causes| Short Covering—Leaders Well Supported. BY STANLEY W. PRENOSIL, Associated Press Pinancial Editor. NEW YORK, February 21.—Bulls and bears staged another tug-of-war with prices on the New York Stock Exchange today, with the former ap- parently gaining a slight advantage. The market opened irregularly higher, ran into a flurry of selling which wiped out many of the initial gains bejore the end of the first hour, rallied briskly around midday, and then backed and filled during the afternoon. Trading showed a marked falling off in volume as operators were disinclined to make any extensive additions to their commitments over the two-day holiday. Strength of some of the high-grade utilities was based on unconfirmed re- ports that brokers with important bank- ing connections were heavy buyers in yesterday's break. Except for a further decline in the commodity price index, due largely to the recent sharp break in grain prices, there were few unfavorable develop- ments in the day’s news. A few minor consolidations were announced over night, and favorable dividend action taken by a few corporations. Call money renewed at 4 per cent and was in such plentiful supply that the rate was dropped to 31 in the “outside market.” = The time money market was quiet with rates un- changed. National Lead, directors of which de- clared an extra dividend of $3 yester- day, ran up nearly 9 points before the rally was checked by profit taking. J. 1. Case, Brooklyn Union Gas, East- man Kodak and Auburn Auto sold 4 to 415 points higher at one him. Bul- lard Co. and Devoe & Reynolds moved into new high ground for the year. Otis Elevator, which sold as high as 333% early this week, broke 10 points to 315. Safeway Stores and Simmons Co. were again heavily sold, with some of the liquidation attributed to “bear"” operators now vacationing in Florida. American Tobacco issues also fell back on_realizing. Fresh selling came into some of the railroad shares as a result of the dis- appointing character of some of the re- cent earnings and traffic reports. St. Louis Southwestern was hammered down nearly 5 points before it met ef- fective buying support, and Pere Mar- quette and Union Pacific sold 3 points below yesterday's final quotations. m’ ,000 Gold Import. NBW YORK, February 21 (#).—The Bank of) America is importing $300,000 in gold from Rio de Janeiro. The ship- ment is due here March 4 on the 8, 8. i Northern Prince. Many errors are made by taxpayers in claimi losses incurred in the sale of residential properties. A loss on the sale of pm&em purchased - or con- structed by the taxpayer for use as his personal residence and so used the time of its sale is not deductible. Where, however, property so purchased Jr constructed is prior to its sale, rented, or otherwise appropriated to income- producing purposes, and is for such purposes up to the time of its sale, a loss is deductible. The deduction allowable is an amount not to exceed the excess of the value of the property at the time it was so rented or other- wise appropriated (with proper adjust- ment for depreciation), over the amount realized from the sale. However, in the case of property so appropriated prior to March 1, 1913, the loss is an allow- able deduction in'an amount not to ex- ceed the excess of the value of the prop- erty at the time it was so appropriated or at March 1, 1913, whichever is great- er (with proper adjustment for e'%e- ciation) over the amount realized from the sale. - Example: Residential property was purchased by a taxpayer in 1822 for use as his personal residence at a cost of $25,000, of which $15,000 was allosable to the building. The pm&eny was so used by the taxpayer until January 1, 1927. From that date until December 31, 1929, when the property was sold, it was rented by the taxpayer. The fair market value of the property at the tme it was rented on January 1, 1927, was $22,000. The bullding had an es- timated life of 20 years when the prop- erty was purchased by the taxpayer 1922. ‘The property was sold on Decem- ber 31, 1929, for $16,000. The loss from the sale allowable as a deduction is 3,750, computed as follows: Cost of proj Less depreciation allowable in re. spect of the building (depreci- ation for 3 vears at 5 per cent based on $15,000 cost of build- T s i 2,250 Selling price of property ....... ......._lG.'IBB Value of property at time it was rented on January 1, 1927....$22,000 Less proper adjustment for de- preciation .. Selling price of property....... 1 Portlon of $6,750 loss which is | deductible Money to Loan gy .‘:‘."" S it Srh e Wm. Gordol'l Buchanan Councilor & Buchanan o National 6110-61116213 (Telehone Directory Omission) by | railroads and 20 utilities. up to| rty in 1922........ $25,000 | 1930. Steady Recovery Shown by Stocks Since 1929 Crash By the Associated Pr NEW YORK, February 21 —A three- month climb_back up “the "hill down which they slid last Fall has brought stock prices o & Doint approaching | their position of a year ago. 1 ‘The nverlge price of 90 index stocks | reached 183.7 on February 15, according to Standard Statistics. That averaged 20 rPUBLIC g~ UTILITIES LB A b L VA e about 10 points below the mark a year ago and 40 points above the bottom of last November 13. The index covers 50 industrials, 20 Industrials a year ago stood at 204.4, against 179.4 on February 15 this year. They reached the pinnacle at 252.8 on September 7 and fell to 141.3 on No- vember 13. Utilities stood at 241.7 February 15, as compared with 209.2 a year ago, and railroads were 6 points above the 1929 quotation of 133.5 for the same date. Rails reached the high mark last year at 167.8, and dropped to 117.7 in two months, while utilities, which climbed to 353.1 on September 23, fell to a low of 156.6 a few weeks later. Snatching of women'’s handbags is be- coming so common in London that the police are baffled. GENTHALER LINOTYPE 0O, O N S ATy 18, 1030, A quarterly dividend of $1.50 and an extra dtvi of 25 cents uj ach of the 256,000 hi ding stock ‘of no i lug T Linotype pany will be pai March 31, 1930, to the stockholders of record as they appear glose of ‘business on March 5. 1930, clot At the e Transter Books will not beé f GEO. L. SCHARFFENBERGER, Treasurer. First Mortgage Loans In Arunnd;n‘. Ct:vunly and Commonwealth Investment Co., Inc. 906 15(h St. N.W., Phone Nationa) 2023 Mortgage Loan Correspondent for The Insurance Co. of America Real Estate Investments JAMES Y. PENNEBAKER Nat.5201 1520K St.N.W. 1851 TW\FF #1930 ~x\RE UIFE INSURgy, wmmmfi:msa“&rd A Standard Low Premium Policy for Business ond Professional Men Detcils on Request F. T. Koons, Ge: Union Trust STOCKS TRADED Stocks, bonds and mort- gages traded on attrac- tive real estate invest- ments with safety, yield and growth. J. P. QUARLES Doniphan Bldg., Alexandria, V. Phore Alexandria 767 REAL ESTATE LOANS ———o Large and small First Trust loans negotiated promptly at prevailing rates and commission. O @ FIDELITY MORTGAGE INVESTMENT CO. 507 11th St. N.W. National 2431 Secured by First Mortgages Safe—Conservative Make your savings 49 Yaor' and surplus funds work for you at Experience the highest inter- est rate consiat- ent with absolute satety. Wm. H. Saunders Co. Inc. REALTORS Dist. 1015 1433 K “ Equitable Co-operative Bldg. Ass'n Organized 1879 JOHN JOY EDSON, President .$5,662,549.55 50th YEAR COMPLETED WALTER S. PRATT, Jr., Secretary Surplus & Profits......$1,’ 8 Subscription for the 98th Issue of Stock Being Received If You Want to Progress Financi- ally—SAVE The most successful method of saving is to adopt a systematic plan. Join the Equita- ble and save as you earn. $2, Pt Share 915 F St. N\y e e We Solicit the Rental Management of Your Property Whether Apartment, Residence or Business Prompt Collections f RENTS REMITTED THE DAY RECEIVED Our Rental Department is Most Complete and Efficient. We offer co-operation at all times in the solution of Ownership Problems, such as refinancing your mortgage, repairs, insurance, etc. RANDALL H. HAGNER & COMPANY, Mortgage Loan Correspondent New York Life Insurance Company 1321 Connecticut Ave. N.W.. Phone Decatur 3600 ‘Attractive Offices Second National Bank Building 1331 G St. N.W. (Uptown Office) A strictly fireproof and thoroughly modern office huild- ing in the heart of the business and financial district. Light, airy rooms—magnesite floors—high-speed eleva- térs—ice water, Rates surprisingly reasonable It will pay you to inspect our space Apply to Superintendent on Premises or Phone National 3934 “A GREAT SATISFACTION™ The fulfillment of a wish that perhaps at one time seemed hopeless. The sured income nec: sary to finance some pet scheme, derived from a safe invest- ment in a good sound security, We Recommend First Mortgage Notes 6% 1435 K St. Nat. 2345 Metropolitan Life Insurance Company REAL ESTATE LOANS AVAILABLE Long Term LU 809 15th St. N.W. Low Interest Rates Consult AVER BRO REALTORS District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company FIRST MORTGAGES e ——————————————————————————————— FOR CLUB AND GROUP FUNDS, Where a club, church, school, university or private group op- erating for a common purpose has funds over and above cur- rent disbursements these funds become a moral trust. Invest in our 6%2% FIRST MORTGAGES They will draw the stipulated interest regularly with the prin- cipal held intact throughout the life of the mortgage, which has back of it ‘conservatively ap- praised, income-producing real estate. Over a Third of a Century Without a Loss May be purchased in amounts from $250 up. BT SAUTLCO. National 2100 925 15th St. NNW.