Evening Star Newspaper, March 1, 1930, Page 24

FINANCIAL MEYERSEES BOND | BUYING INCREAS Former Government Official| ": Tells Club of Opportuni- ties in Market. ext BY EDWARD C. STONE. Eugene Meyer, former director of the War Finance Corporation and of the ‘War Industries Board, declared before the Washington Bond Club yesterday that the bond dis- tributing division of the investment banking business ‘would seem to have at this particuwar ‘moment an unusual - opportunity and a corresponding re- sponsibility in con- nection with the general business situation. After a comprehensive re- view of the finan- cial history of the .| pm 12 years, Mr. er asserted: Now that the excessive specula- tion is over, money is returning to more normal rates and | in the minds of investors there has| been a return to more normal thinking. | Investors may now be approached by | bond houses with arguments and facts | bearing on the safety of the prm(‘!pal‘ and the rate of return without fear of | being smothered by arguments in favor | (0t equity ownership or margin specula- | tion. I have thought that some of the | bond distributing organizations during | the year 1929 failed to a certain extent ; in their duty to their clients and to their business by failing to main‘ain, in spite of adverse conditions, a harder fight on behalf of bond investments. ‘Some houses abandoned the bond ! business in favor of stocks; others ! ceased to work in the face of the dif- ficulties that confronted them. But now all this is over, and many enter- prises of a legitimate character are in| need of capital. Mortgage bonds— among them farm loan bonds, indus- trial and railroad bonds, and many other classes of issues—may now be nted with a fair chance to get a rable hearing. “At present the optimistic hope, which I believe to be justified, has its foun- dation in tHe revival of a sound. broad investment market in which an ade- quate supply of capital will be avail- able for good bonds and mortgage Joans. In the past, under similar con- ditions, a general revival in industry, commerce and agriculture has always followed. There is no reason to ex- pect the outcome to be different in the present situation. “I think the key to success in the bond business at this time lies in a thorough knowledge of the economic situation which makes bond invest- ments logical and advantageous, and a knowledge of the p.rfic% ropagandists against bonds as in- ge-unmu are certainly somewhat, if not very atly, discredited. This gives an lvantage to the bond dis- tributor, which prxrly can be used from the point of 'w of his business | and also of business in general and the public interest. “Easier money markets at home and | abroad, signalized by lower bank rates, indicate that the moment is favorable to bond investments, as yields are still attractive, having due regard to safety ! of principal. “I do m';t. believe that the bond houses need to conduct a campaign against stocks as investments, but I do be- lieve they have an opportunity to point out the wisdom for most people of keep- ing at least a part of their funds in the form of bonds or lgel as a diversjfi- “History proves that the best time for bond investors to buy is during a or im.medhh!y muowm : Eugene Mever. tributing organ portant function to fill. Thefi':n mctess depends upon their response the lefltmu economic nzeds of % wers and the leaders of thmulh the purchase and salé ul bonds. “In the past the most successful firms have proven to be those who best un. derstood their business, who were care- ful in from issuing corporations, both and private, and who were h in their study of securities, of values, ‘The and damental economics. bond salesman is not the glibbest talker, but the man who knows most about the value of his wares, and who uses his knowledge for the benefit ot the buyer's interests. I believe that conditions at this time justify investors in bu; bonds which combine safety and a fair yield. Dividend Checks in Mail. ‘The Security Finance Corporation of this city has mailed checks to its stock- holders covering the ninth consecutive semi-annual dividend on its preferred stock at the rate of 8 per cent per annum. ‘This corporation was organized about four and one-half years ago for the Hrpou of financing permanent home provements, alterations and repairs. The and directors are: Claude ‘W. Owen, president; Merritt O. Chance and James B. Evans, vice presidents; William Conradis, secretary; Maj. Gen. John L. Chamberlain, treasurer; A. H. Brewood, Edwin E. Ellett, William C. Hanson, Edgar Morris, Frederick W. Quinter and Harry M. Keyser. Notes in Financial District. Flowers and felicitations greeted ‘Thomas J. Groom when he assumed his duties today as vice president and cashier of the Bank of Commerce & Savings at Seventh and E streets north- west. He is one of the city’s younger bankers and made an excellent record with the Washington Mechanics Sav- ings Bank, with which he has been connected for several years. Mr. Grdom succeeds Frank Owings, who is retiring from active banking to give all his time to his personal business affairs. John J. McLean, manager of the local office of Fenner & Beane, is passing the week end in New York on business. ‘Thomas P. Brown, director of the Liberty National Bank, returns today from a two weeks’ visit in Havana, Cuba. Broker Office Greatly Enlarged. ‘Westheimer & Co. are making exten- sive improvements in their offices in the Woodward Building under the di- rection of Harmer Reeside, resident tnanager. The board room will be re- located, occupying the entire rear of the new addition to the building. Space occupied by the board room at present will be rearranged to accommodate a number of private. offices and an at- tractive ladies’ room. DAIRY PRODUCTS-KRAFT MERGER TERMS GIVEN ‘The terms under which National Dairy Products gains control of Kraft Cheese give to the holder of the latter & slightly higher than the present mar- ket price. They consist of one-half share of National Dairy Products com- mon stock, which is selling around 51, and $25 In National Dairy Products 514 per cent bonds, which are put in at par, although these bonds are cur- rently quoted at 97%%. Just what effect this exchange of securities is going to have on the temporary market for Na- tional Dairy Products is a question that interests holders of the latter, for it means a large amount of stock in ex- change that may come into sight later, as has been the case whenever National Dairy Products gave its stock to secure possession of other companies. | ~Prev. 1930.— 107 3 136 NEW YORK STOCK EXCHANGE Wire Direct to The Sta~ Notice—All stocks are sold in one-hundred share fots | —Prev. Im— cepting those designated by the letter s (65s) High. which shows those stocks to be sold in odd lots only. and Sales— Add 00. High. Low. Close. Close. 15 31% 30% 345w Stock Dividend Rate. Abitibi Power & Pap. 23% Adams Expr (1.60).. 11% Advance Rumley.. % Abumada Lead...... 118 Alr Reduction (3). ... 21 Air Way El Ap(2%). 1% Ajax Rubber..... T Alaska Juneau. 23 Alleghany Corp. . 5'% Alleg Corp pf (5%) 255% Allled Ch & Dye(n6) #9' Allls-Chalmers (3 6% Am Agricul Chem 26 Am Argicul Ch pt... 77 Am Bank Note (13). 40% Am Bosch Magneto. ., &% Am Brown Bov Elee. 117% Am Can (4).... 36% Am Chicle Co (1234). 26% Am Com Alco(nl.60) 35 Am European Sec. .. 88% Am & For Power. .., 95% Am&Forn Pwr 2d pf. Am&Forn Pwr pt(7) 9% Am Hawalian S 8 (3) Am Hide & Lea pf... Am Home Prod(4.20) W Am ice Co (t4)....0. #5% Am International (2) 111% Am Loco pf (7). 44 'Am Metai (3) % Am Plano. 77 Am Power @ 80 Am P&L pf A st u). $0% Am Ra&Std San 1. 20 Am Rolling Mill (2). 1% Am Ship & Com. 69% AmSm & Ref (1), 16 Am Solvents Chem., . 26 Am Sol Ch ev pf (3). 44t Am Steel Kdy (3).... 4612 Am Stores (2)......; 19% Am Sumatra (3)..,. 16 *Am Tel & Tel (9), .. 197 ‘Am Tobaceo (8). Am Tobaceo (B) 2814 Am Water Wks (n1) 7% Am Woolen 19% Am Woolen pf...... 291 Am Writ Paper pf (3 ¥!s Am Zinc Ld & Sm, 56 Am Zine pf (6) 9% Anaconda Copr (7). . 35 Anchor Cap (2.40)... 105 Anchor Cap pf (6%). 30% Andes Copper (3). ... 5% Armour i1l (A) 2% Armour Il (B) 4% Art Metal Const (12) 36! Asso Appl Ind (4)... 28 AssoDry G (2%). Asso D G 15t pf(6) 219% Atch T & S Fe (10) 102% Atch T&SF pf (5) Atl Gulf & W I pf(5) 6% Atl Refining (12),... 8112 Atlas Powder (4 101 Atlas Powdr pf (6).. 175% Auburn Auto (J4)... 3% Austin Nichols, Autosoles Corp pf... % Aviation Corp Del. .. 30% Baldwin,Loco (1.75). 115 Baltimore & Ohio (1) ker Bros(2). Barnsdall, A (2)..... 97% Bayuk Cgr 1st pf(7) 102% B'trice Cream pt (7). 60% Beech-Nut Pkg(2)... 32% Bendix Aviation (2). 31% Best&Co (2). Bethlehem Steel (6) . :22% Bethlehem St pf (7). 60% Borden Co (k3). 82% Borg Warner (4) Briggs Mfg... Bklyn-Manhat Bklyn Union G ) Brown Shoe Co (3).. Bruns Ter & Ry 8. Bucyrus Erie (1) Bucyrus cv pt (Ht)- Budd (E G) Mfg (1). Budd Wheel (1)... Byers (A M). Calif Packing (4)..« Calif Petroleum. mlumn&H‘c(ld!‘). Canada Dry G A (5). Canadian Pac (10)..: Cannon Mills (2.80)., % Capital Adm (A).... Car Clin & Ohio (4).. Case (J 1) (6). Cerro de Pllco (I).- Certain-i Cbecker Clb ILIG) . ‘Chesapeake Corp (3) Chi Great Western. ., Chi Mill St P&Paec. .. % Chi Mill St P&Pac pt. Chicago & N W (5).. Chi Pneu Tool... ChiR 1 & Pac 11).... Childs Co (2.40). Clark Equipment (8) Coca-Cola (6). B Coca-~Cola A (3). Collins & Alkman, Col Gas & El (2)..... Columb Graph (87¢). Columblan Carb (16) Com Credit (2).. Comm Credit A (3).+ Coml Inv Tr (g1.60). Com Inv Trat war... Comm Solvents (31) Comwlth&Sou(60e) Comm & Sou pf (6, 4 Congoleum-Nai Congress Cgr (15%)+ Consol Clgar (1) Consol Film (2)..... Consol Gas N ¥ (4).. Consol RR Cub p£(6) Consol Textile Container Cor A 1.30. Container Corp B. Contl Baking A Contl Baking B Contl Baking p: Contl Can (2%). Contl Dia Fibre ( Contl Insur ¢ Continental Motors.. gnu Oil of Del. Corn Prod (13%) Coty, Inc (k2). ¥ Cream of Wht(12%) Crex Carpet........ Crosley Radio (1)... Crown Cork & Seal. . Crucible Steel pt (7). i Cuba Cane Sugar. Cuba-Cane Sug ctfi Cuba Cane Sugar p: Cuba Cane S pf ctf: Cudahy Puklnl “ . 6% Curtiss Wright Corp. 13% Curt Wright Corp A.. 64 Cutler-Hamme: 28% Davison Chem Del Lack & W ('7)..‘ 60 Denv&RG W pt.... 30% Devoe & R. A (2.40). 139 20% Dominion Strs (1.20) 77 Drug Corpn (4). 1124 Du Pontde N (14.' 175% Eastman Kodak (18) 27% Eaton Axle &8 (3).. 41 Eitingon pf (6%).. 81 Elec Auto Lite (6) 4% Electric Boat. 49% El Pwr & Lt (1) 69% Elec Storage Bat (5). 4 Elk Horn Coal. ....,, 39% Eng Pub Serv (11).. 94% Eng Pub Sve pf (5) 564 Erie R 61% Erle RR - 35 Eureka CacCl (4)... 18% Evans Auto L(32%). 22 Exchange Buf (1%)._ 4% Fairbanks Co. 16% Fairbanks Co pf.... . 34% Fairbanks Morse (3) 59% Fed Lt & Tre (31%)., 32% Fed Wa Ser A €2.40.. 29 Federated Dept Strs. 65% Fid Pho Fire 1(32.60 26 Firestone T&R( 79% Firestone T&R pi 50% First Nat Strs (33%). 3 Fisk Rubb&resescces Received by Privatc 27 33% 7 lsh 43 l:!bu 7 20% 28% 3 24 10 7% 151 31% 2 104 18 274% 224 94% 5 98% 5 109 5 25% 1 304 13 61 1 36% 62 4T 18 £ 134 2 % 30% 103% 158 11z 8 17% 14 36% 11 116 208 18% 7 21% 208 973 2 103 % - 28% 3 119% 119% 83 664 84 39 1 44x 5 8% 2 3% 653 381 44 8% 3T 5 149% 149 0% 33% 18% el 135% 1283s), 29% 35% 18% £39‘n 237 50% 61 28% 119% 66 39 44% 8% 37 149 49% 31 93 29% 189 % 36% 41% 51 19% 1Y% 17% 99 17% b3k 627% 2 % 20% % 119% 1% 20% 7 43% 6 89 65% 29% 68% TH 20% 36% 94 291 29% 22% 19% 4 49% 49% 20s 113% 113% 5 1% 38% 38% Nfl\a 147% 2 5 Diamond Match (8). 240s 4 7 127 53 35 56 29% 22% 19% 49% ll'fin 147% 72 41% 4 165 219% 216% 34% 56 101‘1 101% 685 8% 4 5614 98Y 59 10- 17 7 6y 675% 5% 4 55 98% 59 21% 79% 127 219% 35 56 101% 28% 264 _ 684 504 32% 61% 134 4T% T4 13% 23 41y 86 28% 120% 64% 39 4% 8 37, 149% 49% 31% 924 29% 20% 119% 18% 9% lll‘a 147% 72 41% 163% 21%. 9% 127% 216% 34% 56 102% 41 27% 26% 6 19 37% T2% 36% 4 8% . 1184 Jos 22% 103 Stock and Dividend Rate. 37 Fallansbee Bros (3). 60% Foster Wheeler (2).. 15% Foundation Co. 16% Fox Fllm A (§4).... 38% Freeport. Texas (15) 69% Gamewell Co (5).... 3% Gardner Motor. . Gen Amer Investors. 25% Gen Bronze (3) 26 11% Gen Elec spec (60c). 46% Gen'l Food Corpn ¢3) 6415 Gen Gas&EIl A (te2). 44 Gen Ital Ed w.i. a2.61 90% Gen Mills pt (6) 3713 Gen Motors (13.30). 117% Gen Motors pf (7). .. 32% Gen Public Serv (b6) 864 Gen Ry Signal (5)... 6 Gen Refrac (14%).. 39% Gen Theat Equip vts 874 Gillette Saf Raz(n5). Gobel (Adolf). 37% Gold Dust (21 100 Gold Dust pf (6) 40% Goodrich B F (4), 95% Goodrich pf (7). 62 Goodyear Tire (5) 21% Gotham Silk H (2%) 9% Graham-Paige...... 51 Granby Copper (8).. 324 Grand Silver Strs (1) 331 Grand Stores (1).... 86 Grand Stor pf (6%). 13% Grand Unon..... 87 Grand Union pf (3). 32% Grant (W T) (1). 95 Grt North pf (5) 90% Grt North pf et ( 28 Grt West Sug (2.80). 114% Grt West Sug pf (7). 12% Grizsby Grunow (2) 51% Guif Sta Steel (4)... 12% Hahn Dept Stores. .. 100% Hanna (M A) 1st (7) 85 Hanna pf (new) (7). 13% Hartman Corp B 1.20 8 Havana Elec Ry Hershey Choc (5). 831 Hershey Choc pf(t5) Y 104% Hershey Ch pr pf(6) 15 lloe (R) & Co. . 52% Household Prod(") 524 Houston Ofl........ 35% Howe Sound lfl!fi ). 46% Hud&Man Ry (3.50). 58% Hudson Motor (5)... 20% Hupp Motor (f2).... 73% Illinois CntlsIn (4). 40s 20% Independ Ol & G (3) ag Ind Motor Cycle. . 17% Indian Refining. 154% Ingersoll Rand (: 264 Inspiration (4 13% Insurance Shars 45e. 20% Interboro Rap Tran. 4% Intercontinental Rub 24 Interlake Iron (1)... 4% Intl Agricultural.... 152% Intl Bus Mach (n6).. 5 Int Combustion. 30 Inter Comb Eng pf. . 78% Intl Harvester (23%). 140% Intl Harv pf (7). e 31% Int Nickel of Can (1) 26 Intl Pap & P A(2.40). 15% Intl Pap & Pwr B, 12% Intl Pap & Pwr C. 79% Int Pap & Pwr pf 46% Intl Printing lnk (l) 29% Intl Rys 69 Int Salt (6).. 102% Intl Silver (18) o 5 8 - 3 = & oErmeBraRatnBeRemend 62% Int Tel & Teleg (2).. 189 30 Inter Dept St (2).... 19 Investors Equity(2). 105 Island Creek pt (6).. 43 Jewel Tea (4) 117 Johns-Manville (3).. 118% -Johns-Manv pt (7).. 7 & Laugh pf(7) 2 Jordan Motor Car... tadt (R) (1.02).. 34 Kayser Jullus (4)... 3% Keily-Spring Tire " 224 Kelsey Hayes (3 T K Radio. 38% Kraft PhCh (1%). 98 Krafi « 23% Kreuger&Toll (1.34). 37 Kroger Gr&Bak(nl). Laclede Gas (10).... 12 Lehigh Valley Coal.. 19% Libbey Owens (1 91% Liggett & Myers(t5) 91% Liggett&Myrs B(15) 35% Lima Locomotive. .. 52% Liquid Carbonie (4).. 42% Loew’s, Inc (3) 86% Loew’s, Ine pf (C"). 8% Loft. Ine.. 50% Loose-Wiles (2. 0)-- 16% Lorillard (P) Co. 921 Lorillard (P) pf (1) 38% LOouG&EIA (1%).. % 128 Louis & Nash (7)... 32%_ Ludlum Steel (2). 35 McGraw-Hill (2). 614 K 70" Mack Trucks (8)..e. ™ 137% Macy(RH) & Co(n2) ) 25% Man Elec Supply.... 30% Man Elev mod (d6).. 51% Manhat Elev gtd (7). 20% Man Shirt (2)....... 39% Marlin-Rockwl t4% ., 20% Marmon Motor (2).. 37% Mathieson Alkill ( 49 May Dept Strs (n2).. 29% Maytag Co pf (3).... 154 Mengel Company (2) 83 Mengel Co pf (7).... 16% Mexican Seaboard... 26% Miami Copper (4). .. 53 Michigan Steel (234). 37 Midland Steel Prod.. 90 Midland Steel pf (8). 1 Middle States Oll ct. 3% Miller Rubber. . 124 Minn Moline Pwr. Mo Kan & Tex pf(1). 31% Mohawk C Mills (3). 38% Montgomry Wrd (3) ) 1% Mother Lode (40c).. 4% Motor Meter G & E. 12% Mullins Mfg.... 18 llurrlycor(bl’bllk. 50% Nash Motors (6) 9% Natl Bella He: 71 NatBisn (p2. 35% Nat Tea Co (2).. 27% Nevada Copper (3).. 40 Newton Steel (3)..ss 167 N ¥ Central (8)....% 180 N Y & Harlem (6)... 108% NY NH & Hart (8) NYNH&H pf (7). 110 « N Y Steam 1st pf (7) 16% Norfolk Southern. 93% North Am(b10%stk) 100% North Am Ed pf u). 45 Nor Ger Lloyd(3.41). 84 Northern Pao (6). 82% North Pac et (5) 9% Ol Well Supply. 13% Oliver Farm Equip, « 70 Olivr Fr Eq pt A(6).. 81% Olivr Fr £q cv pt(3). 2% Omnibus Corp. 30% Otis Stee] (2%). 52 Owens Il Glas: 624 PaclfioGas& B (2),, 72 Pacific Lighting (3). 1/ Pacific Oil stub: 1161 Paciflo T & T pf (6! 16% Packard Motor (1).. T60% T 60% Pan-Am Pete B. Indn Motorcycle pf..340s Bales— Add 00. High. lmv Close. mau IEM Fisk Rub 1st pf cv.. 2008 15 15 16% 4074 6514 16% 33% 41% 75 6 15% 104% 40 644 204 34 | | Ganital Soek. e ‘b, s ADVANCE IN STOCK PRICES IS RESUMED Market Again Heads Up- ward—Short Covering in Copper Group. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, March 1.-—The month of March started with speculative sentiment mildly bullish on the Stock Exchange and with a continuation of the forward movement in prices that had _distinguished the closing sessions of February. Demand s concentrated on public utilities, communication, amusement and copper stocks. Within these groups there was considerable buying of issues that today touched the highest prices of the year. This was especially true of the former leaders in the power and light field such as American Power & Light, American Water Works, Electric Power & Light, North American, Pa- cific Lighting and Public Service of New Jersey. American Telephone & Tele- graph rose 214 points, representing a | steady advance of about 13 points from the level of a week ago. Short covering developed in the co) per stocks, whose action belied the re- ports that dividends on the shares of the producing companies will be re- duced at this month's meetings. Warner | Bros. and Famous Players, Radio and | Radio-Keith were all bid up into high- er ground by the professional element that committed itself to this group of properties early in the year. ‘The shares of the two leading elec- trical companies, General Electric and ‘Westinghouse, continued strong, in spite of the progress they had already made, and there was some accumulation evi- dent among the chemical stocks. Iron and steel, oil and railroad issues and the leading motors did not take the part in the day's improvement that was given to other classes of speculative and semi-investment shares. Trading was on about the same relative basb as in the last few sessions. The reaction in wheat of several | cents a bushel was the first of any size | that had occurred since the market re- | ceived its Government support on Tue day. While this made traders who have tuned their operations to the move- | ments in commodities more cautious, it | did not have any pronounced effect on | the share list. A London bookseller has collected more than 400 editions of “Robinson Crusoe” in all languag STATEMENT OF THE CONDITION NORTHWESTERN NATIONAL INSURAN COMPANY OF MILWAUKEE. WISCONS! on the 31st day of December. 1929. as re- | Quired under the District "o Cotumbia ' Code. amended June 30, 1902, Capital stoc] i cash *3.000.000.08 $34.795.85 | 18759873 | Re 716,144.17 % ... 1,813,000.00 Stocks bonks ' (market value) .., Lo 12,140,478.46 Premiums " uncoilected " and 'in 919,588.13 101:926.70 Res lien) Sii and hands of agents Interest due and Actrued All other assets . Total assets LIABIL] Net unpaid claims Reserve as requlred by law Salaries, “rents com mm o Capiti K1 other Sabittics” Total liabilitles . Character of business ‘tr) iéd Gutine the year 1929_Fire. Tornado, Earthquake and Automobile Insurance. Amount of risk ing the yea: Losses mst-xned diriing ' the ar 1929 ; Aisumed dur- - $946,581,750.00 2,017.153.00 5.654.39 5.468.579.75 | President. STUAR’ Bupetrived ‘and shoratis’ befors me this 1st day of February. 1930, N 7. ANN, Notary Public. Miliwaukee Couniy My commission expires Aug. 23, 1931.) Branch_Office: MES H. SHANNO! G STAR, WASHINGTON, D. C, SATURDAY, MARCH 1 1930. STOCKS ARE AFFECTED BY COMMODITIES DROP During the past week it has been in- creasingly evident that falling com- modity prices can and do have an ad- verse affect on the market value of in- dustrial stocks, according to an analysis in the current United Business Service report. This effect is particularly noticeable when price declines take place in com- modities with world markets, such as wheat and cotton. Rails and public utility stocks, how- ever, are but little affected by falling commodity prices. Business depression may, indeed. mean a reduced volume of freight for railroads and deminished use of electric power or gas for utititles, but lower prices are an advantage to them in bringing reduced costs for the me- terials and supplies which they buy. The gain from this source may even overbalance the loss from a smaller volume of business. ‘This difference in the way they =re |affected by falling commodity prices doubtless accounts for the relative strength in the present market which rails and utilities have shown as com- pared with most industrials. INVESTORS WARNED. The Pinancial World is issuing a warning to the general public as well as to its readers throughout the country against the practice of certain persons who have heen advising by lele(nm he purchase of specified securities and urporting to be sent to brokers by Louis Guenther, publisher of the Finan- cial World. Offices for Rent in the Edmonds Building 917 15th St. NN\W. Opposite McPherson Square The Wall Street of Washington Desirable suites of two to six rooms now available. Very Low Rentals HANNON - & LUCH Managing Acents 1435 K St. NW. Nat'l 2345 STATEMENT OF THE CONDITION OF THE American National Fire Insurance Comy any oF cox.mllv OF On the 31st day of as re- Smended June 30, 190, and Ausust 18, 1911: Capital stock . 000.000.00 | C Uincollected - and Lohands of "sgents lerest due and leinsurance recoverable on paid Tents, expenses, etc. Gommitssions: broker! Capital stock . Total labilities. Character of business tr the vear 19290 Pire, allied | classes. 33sumed d Amount of risk g the year 1 132,411,900.00 321,612.15 884,061.57 747.503.85 A/R. PH N iee President. a. £ KRECH, . a tore. ot o "fi' ot Febeudr Tagy, before e Notaty Public. Cotintys No. 30 Ce "um’m Bl B S ooty o S Insurance Service BRODIE & COLBERT, Inc. 1707 Eye St. N.W. Manager, ey Building, 13th and H Sts.’ N.W.. te 808, Consult Us Nat’l 8875 Regarding Your Maturing Mortgage. LONG-TERM REAL ESTATE LOANS WE MAKE FIRST MORTGAGES ON Home: Apartments and Busin Properties in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Mortgage Loan Decatur 3600 Correspondent New York Life Insurance Company If Dollars were Doughnuts— OME people cou! less with them ldn’t be more care- than they are today. To these folks, “pay day” means simply a chance to catch up—a breathing spell—more money to spend— And it will mean the same to them in 1935—no matter what their salary. BUT—to those men who look ahead . .. who are thinking and planning for the future—a dollar has a definite, tangible earning power, far different from its use, as something to gamble with. And among such people Swartzell, Rheem & Hensey Company has always numbered its clients . . . Men who know that &an investment’s true value is measured by its proven stability, its CERTAIN earning power—a security such as the 6 per cent First Mortgage Notes offered by this company. You may obtain thes se Notes NOW—in denominations of $100, $200, $500 and upwards, SWARTZELL, RHEEM & HENSEY CoO. MORTGAGE BANKERS WASHINGTON D.C. 727 15 STREET N.w./ Foas Silredunder 1he Blstzicr of Coltmbia ot | FIN‘VANCIAE g WHOLESALE TRADE IN SEASONAL GAIN Business in January in This Re- serve District Better Than in December. Wholesale trade in the Richmond | Federal Reserve District was season- | ally better in January than in Decem- ber, but was below the volume in Jan- | uary, 1929, according to reperts from | 69 firms in five leading lines. | Sales of shoes in January were 19.1 per cent better than in Januery, 1929. Drugs had the largest decline ot the other four lines with 17.9 per cent, Grocery sales were off 9 per cent and dry goods 1.8 per cent. The loss in hardware sales was 6.1 per cent. January collections were slower in every line than in January, 1929, and compared unfavorably with December collections in all lines, except drugs. Stock Increase Approved. NEW YORK, March 1 (#).—Stock holders of the Indian Territory Illumi- nating Oil Co., a subsidiary of cmes‘ Service Co., have approved increasing | the authorized stock from 9500000, shares of $1 par value to 15,000,000 shares of no par value. Wm. Gofl‘lol’l Buchanan Councilor & Buchanan T National 6110-6111 -4!" (Telephons Directory Om: Established 1 MONEY"fo 'iZOAN 6% oRe "FrACING “an RENEWING TOUR FiRAT AND sHCOND TRUSE Consult WELCH LOAN_SPECIALIST 15th & N Y. Ave Vsavines & Tr National 434 (Natio Established 1899 INVEST YOUR FUNDS IN First Deed of Trust Notes Bearing 61,9, Interest In Denominations of $250.00. §500.00 and $1,000.00 Consult WELCH Realtors Loan Specialists avings & Trust Buildin Ave.N.W. National 4 STATEMENT O; T CONDITION Equitable Fire & Marine Insurance Company of Providence, R. . on the 31st day of December, 1929, & Teauired linder (he Diatrics of Co: lumbia Code, mended June 30, 1902, aod Ausust 18. 1911 Capitai stock $1,000,000.00 Capital m»ck> -$1,000,000.00 Gash mn_bank Crst Tien) Stocks and bonds '(market Premiama $1,081,006.65 T 200000 ; $:191:830.00 uncoile hands of ‘agents. Interest due and Recoverable for reinsurance on paid losses .. Total assets. BILITIES. Net_unpaid_elajm . Reserve as reauired by Taw 1,390.096.31 Balaries, rents a3 c-r!ul stock ortear lected i advase Special reserves. omotal, labilities L3 o yent 1930, "Fire, Jhtaing, tornado. “hall, carthau fits and commissions, Innkeepers. HapilLy, - tine, automoblle. sprinkler leaka risk, explosion. ~rents, leasehol 1 - jise and occupancy. tou ter, riot and civil commotion. Amorimt e “Ha B0 ch pcduring the year ml $711,209.624.00 tained durls 929, 635,193.10 1,133,341.25 1.547 61 Vice President. Subscribed and _sworn 1o, before me this 24th day of January, 1930. (8eal.) ANDREW E. ks n' Torars Pibtic. M. LEROY GOFF Insurance—Service All Branches 1036 Woodward Building Phone Nat. 0340 STATEMENT SF THE CONDITION Bankers & Shippers Insurance, Company of New York, on the 31st day of December, 1920, as Jeauired_ under the gmrlct’al Co- Code, amen 1903, and August’ 18 2110 ¢ ital stock . ital stock .$1,000,000.00 nlld up, 'in ++ 1,000,000.00 Cash in banl an) Stocks and bond.v (market value) .. $395,123.25 5,406,440.00 532,512.57 52.436.70 ance due on nnaR losses. Total assets LIABILITIES, Net unpaid claims . $563,081.31 Salaries, rents, expepses, es.” etc, 2,439,530.65 Commissione, 3 § 153,000.00 Capital stock 1,000,000.00 Allother liabiiitie: Sur- - plus to policy helders... 3,242,919.56 $6,398,540.52 Total limbilities. . qCharacter of business transacted the vear 1929: Fire, marine. aitomobile; tonado. sprinkler le inland marine, hail, riot, eivil cos motion and explosion. L. P. TREMAINE, Vice President. R. CHOLMELEY JONES, Secretary. Subscribed and sworn to befors me this 1st day of February, 1930. (Seal.) . HERBERT A. KOPKE, Notary Public. Notary public for New York County, New York County Clerk's No. 213, New York County Resister's No. 1K193, Queens County Clerk's No. Queens County Register's No. 5229, My term expires on March 30, 1931. Statement of the Condition of the Equitable Life Insurance Com g of the District of Columbia on the 31st day of December, 1929, as required under the District of Columbia Code, lmendad June 30, 1902, and August 18, 1911, Capital stock . Capital stock, paid up in cash .$120,000.00 120,000.00 ASSETS. Cash in bank . Lt e SR S SRS RS $62,328.81 395,475.00 Real estate mortgages (first lien)........... 3,007,150.00 Stocks and bonds (amortization value).... 3,750,063.79 Loans on collateral Premiums uncollected and in hands of agents Interest due and accrued ................. Eonns o polielesii. i i, siivh Jiliavsavs 5,000.00 241,151.64 128,467.39 347,154.20 Total 88008 i 407 ohtueasnis buisiviss 3793679089 LIABILITIES. Net unpaid cladme 5 50 0L Lo & required by law .............. 7,085,526.00 Premiums paid in advance ..... Reserve Salaries, Agents’ deposits . Total liabilities ...... rents, expenses, taxes, etc. Cash dividends remaining unpaid ,........ Capital #1004 oo vivpii v civaeidesantis g $23,088.46 38,182.75 61,772.75 3,100.00 61.55 120,000.00 605,059.32 $7,936,790.83 Character of business transacted during the year 1929: Industrial and Ordinary Life Insurance. Amount of risk assumed during the year 1929 .. Losses sust; ed during the year 1929...... Money received during the Jyear 1929 $5.812,326.00 762,920.45 2,790,324.78 Expended during the year 1929 ........... 1,156,684.02 HENRY P. BLAIR, President. ALLEN C. CLARK, Secretary. Subscribed and sworn to before me this 28th day of February, 1930. (Seal) GILBERT A. CLARK, Notary Public, TRUSTEES JAMES G. BENNETT HENRY P. BLAIR ALLEN C. CLARK APPLETON P. CLARK, JR. GILBERT A. CLARK J. LEO KOLB WILLIAM H. RAPLEY WILLIAM W. RAPLEY E. FRANCIS RIGGS MAURICE D. ROSENBERG JOSEPH SANDERS LUKE C. STRIDER HENRY A. WILLARD, I