Evening Star Newspaper, March 17, 1930, Page 15

FINANCIAL. L L A—15 ILAMONT SEES GAIN INBUILDING WORK THE EVENING STAR, WASHINGTON, D. C, MONDAY, MARCH 17, 1930. . PETROLEUMISSUES | EADERS ON CURB tock and Sales— Rate. _Add 00. Open. High. Low. Close. 36% 36% Stock and Dividend Rate. Unit Verde Ext (4).. 9 Utility Pw & Lt(a1). 20 Utility & Ind. 10 Stock and Dividend Rate. Kerr Lake. .. Kirby Petroleum Klein (H)pt pf $1.20. /~Prev 1930.~ Sales— ~Prev 1930.— . Low. Low. Add 00. Open. Eigh. Low. Close. | High. Divide: 13% 13% 183% 1 42 184 West Air Exp (60c).. 1 36% 36% 22% 22% 66% 60 WestMassCo(2)... 1 60% 60% 58 stocks are sold excepting designated by the letter s (65s) (285s), 18% 57 Winton Engine(4).. 1 66 65 5 I those which shows those stocks to be sold in odd lots one hundred-share lots | —Prev 1930.— - : ,mn:.' Low. Stock and =2 Public Utilities Also Active. Motors Steady and Food Group Strong. BY JOHN A. CRONE. @pecial Dispatch to The Star. NEW YORK, March 17.—Petroleum and public utility shares predominated in today's moderately active and ne-l lective curb market. Citles Service opened fractionally lower on & lot of 9,000 shares at 38 and then merely backed and filled, while its subsidiary, Indian Territory Oil, was dull and lower. Gulf Oil of Pennsyl- vania, however, leaped to a new high record with a gain of 12 points, Stand- ard Oil of Indiana, Humble Oil and Standard Oil of Kentucky also pointed h er. ectric Bond & Share continually reversed its trend, but move only with- in a range of a point in either direc- tion. Community Water Service and Tri Utilitles Corporation early hit new highs. American Superpower and American & Foreign Power also ad- vanced. Natural Gas shares were again active and in many instances higher. Amer- jcan Natural Gas, hit & new peak. Memphis Natural Gas equalled its pre- vious top. Dixie Gas and Utilities came within a fraction of its best quotation and Missouri-Kansas Pipe Line climbed to a new altitude. Cord Corporation again was one of the most active motors as its sales re- ! port and a national advertising cam- paign called attention to it. Passing of the preferred dividend on Automobile ! Voting Machine was received with a half point advance in the stock at the opening. Prospects of curtailment of Canadian liquor exports to this country brought further selling into Hiram Walker, which hit a new low for the year. General Baking common was active, one lot of 4,900 shares coming out at 2%. Pacific Coast Biscuit preferred was up 2% points at one time. AMPLE FOR 10 YEARS By the Assoclated Press. SAN FRANCISCO, March 17— Enough ofl resources have been dis- covered in the United States to supply gasoline and oil for industrial uses and re cars for the next 10 years without an increase in price, oil statis- ticians here estimate. Importance of new oil pool discov- eries are shown by figures of produc- tion from these areas. During 1929 about one-third of the total production increase, or 36,709,000 barrels, came !mpoohofied that year, and there- fore lacked ie for complete develop- ment, or :ue restricted by producers’ agreements. New pools opened in 1928 produced about 15 times as much ofl in 1929 as in the ing year, Santa Fe Springs,, ja fleld, s the greatest gain for an individual production area, adding 60,383,000 barrels to the oil flow as_compared to that of 1928. Pecos County, Tex., fleld. showed a 1920 gain of 16,377,000 barrels to take second place and the Bruner pool in the same State showed an increased fleld is producing about 70,000 barrels daily, roughly about one-tenth of its capacity. —_— No Chance for Street of Gold. melted together would f Am‘{:&n!“ T jlorm a cube o 38.5 feet long. 4 Increase Corn Yield. PRINCETON, Ind, March 17 (#).— Reducing hazards that cut yields, Gib- son County farmers have developed a corn culture that produces 100 bushels or more an acre. Close spacing, proper fertilization, good seed, cultivation and Totation are features of the system. BONDS ON THE CURB lesin = DOMESTIC BONDS. 3 High. Low. Noon. fat Pow e 19 163% ::oi& l§§’/- : iz 35 E;»;;*o!hfl IR gt R e 100 BE 5 = CEE 222 23385geetss 3 3 999 22 & SO S 2 3 S 2 Q! woinsreni ! 9979999 3% 5 egopisat: obe EEEEE AR SRS 9034 1 65 '39. 1031 87 99ta 34, 98% o 90 8 65 A 2026 1057 as 55 '42 9913 3! B! 2: 3, = 3 o DpapoY 25 > 2 5 (LIS gl b af, £ 5o Godia .t.nmu:=.:!d!&m;s.-..-aw.... Enks O r & ggdcacd 25 a:»‘as:r;?-?a;im 24 »¥, 2 B 25 5 i > as 2 5233 2 2. Bkl sens IS ] SI2BBIRTLLISBI:! 39 35 :g-. AR SESE S g32snEzsgeaestnns PR RRRE .... H B, H e .. S ot Edhecy 1) WiG aBubE o awSol . 5 8 o g K 3 arrant ut warrants. — Wit 52% 2% 27% 20% 9% 16% ~Prev 1930.— High. 4“ 21% 16 4 10% 23% % 94N 5 17 9% 1% 36% 1 39% % 22 18 9% T 24% 124 ke 2% 1% 5% 31% 23 6% 33% 27% 6 35% 26% 24% 32% 3 3 2% 1% 3% 51 26% % 12% 22% 653 18 5% 24 % 15 % 5 90% 21% Acme W Co vte (12).. der Ind Ainsworth M?g 8 All Amer Gen Corp. Allegheny Gas Corp. Allied Mills (60¢) 45 = 1 19200 40 b e 00 ) Am Cwith P A b10% Am Cmwith Po war. Am Super 1at pf ( Am Yvette (new) wi Amrad Corp (1). Ang Co Dpf A (4) Arcturus Rad Tub Arizona Com (60¢) As50 G & E A (12.40) As30 G&E A deb rts.. Asso Laund (120e).. Asso Rayon pf (6) Atlant Fruit & Si Atlas Plywood (2) Atlus Stors Corp(3: Aut V Mecvprpt(2). Auto Music (A) (1).. Aviation Corp of Am Aviation Credit. .. Aviation Securities.. Babcock& Wilcox 19, Bahia Corp Bahia Corp Bellanca Alrcraf: Blaw-Knox Co (1% Bliss Co (E W) (1) Blue Ridge Corp. Blue Ridge cv pf Blumenthal (S). Bourjols, Ine (1) Brasil Tr & Lt (2 Brit Am To reg t Buff, N&WP pf(1.60). Bulova cv pf (3% Burco, Inc (war) Cable Radio T vt Cab&Wire LtdA rcts Cab& Wire Ltals rets. Can Marconi...... Can Pacific(new)w. Carnation Co ($1% I Chain Stores Stock. . Charis Corp (13).... Ches & Ohio (new).. - © 2 RO 0 00 D o ke = 3 o i 00 8320 1 88 = 1 e 10 80 1 Clev Tractor (1.60) Colon Oils.vose Columbia Pictur 16 k) 16 Comstock Tunnel... Consolidated Afreraf Consol Auto Merch Consolidated Copper. Con Gas, Baito(3.60) Con Gas Ut A(2.30).. ‘Wh % Crown Cent Petrol. .. Crown C&S pf 2.70) ., % Curtiss Wright war.. Dayton Alr & Eng... Deere & Co new w.i.. De Forest Radlo. ... Detroit Atrcraft Cors Derby Oil & Refin. Dix Gas & Utilitles Doehler Die Casting. Douglas Alr (76¢). .« Dres(SR)MIgA3%. Driver Harris(new). Dubilier Cond&Rad.. Durant Motors. . Duval Tex Sul wi. . East Gas & F Asso. .. East Sts Pow B (1).. Eastern Util Inv A, Efsler Elec (1.50) El Bond & Sh (b6). El Bond & Sh pt (6).. Elec House Util ($2) Elec Pow As30 (1)..s Elec Pw Asso A (1).. ElIP& Lopt war.... Elec Sharehldg (31). El Sharehold pf (6).. Emp G F cum pt (7). Empire Pwr Corp(3) Emp Pub Sv A(1.80). Engineers Gold. Engineers P S war... Europan Eles (The, Fabrics Finishing Financial Inv N Y. 4 Flintkote A (1.50 Florida P&Lt pt (7 Fokker Alreraft. Foltis Fischer Co Ford Motor Can B. Ford Mtr,France 39 Ford Mot, Ltd 37%¢. Fore D Pr pf (1.60) Foremost Fab (2). Fox Theat Cl A, Garlock Pkg (1.20) General Baking. en Baking pf (3)..4 4 Gen E Ltd rcts (60¢) Gen Gas & El (A). Gold Coin. . Golden Cent. 508 117% GrA&PTnv(6).. 20s 230 Grog Stors Prod vt Ground Gripper (1) Guif Ol of Pa (1%). Horn & Hard (2%).. Hudson Bay M & 8. . Humble Ol (2)...... Hydro Elec Serv (3), Hygrade Food Prod. Imp OIL Can ¢50c). .y Indian Terr flum. .. Ind Fin etfs (b10%). nsull Ut Inv(b6%). 1 Insull Ut In 24 pt 6. .2008 Insurance Seo (1.40) 12 Intercontinent Petn, & Intl Holdg&Inv 10e, Internl Petrol n (1).. Intl Superpow (31). Interest Eq v pt (3) Irving Afr Cb (1. an Superb Jefterson B (133 Jomas & n.umm.-i, 15% Jon & N cum pt (3).a 208 276% 279 t 5% B 659 60% % 25% 29% 11% 104 34w 15 9% 138 6% 5% T 36% 26% 46% 1% by ) & % 2763 % 45 15 9% 138 5% 5% T 363 26% 5% 84 16% 17" 16% 11 30% 30% 30 8 53% 53% 524 by Sales— Dividend Rate. _ Add 00. Open. High. Low. Close. 4 a 49 9% % Phillp Morris (A)... “ S W Dairy Produets, % Standard Motors. % Teck Hughes (60¢c). . o Kobacker Stores (1). Kolster-Br (Am Sh), Lane Bryant, Ine(2). ¥ Leonard Of Lion Of1 Refin (2). 4 Loews Inc deb rtas., 2 Lone Star Gas (1)... 12 Long Isld Lt pf (7). 100s Louisfana Lan & Ex. 10 Mao Marr Store 4« Magdalena Syn 5 Mangel Strs pf (6%) 50s M, Mapes Co! g (3). arine Mid Cp (1.20) % Marine Union Inv. Marshall Field & Ce M Mid West Ut A war.., Mid West Ut B Min Corp of C (25 Miss River F Cp wai Mo Kan P L (b10% Mock Judson Voe(2) Mtg B, Morison Elec (31).. Mountain & Gulf 8¢ Mount Prod (1.60). Nat Amer Co. Nat Aviation. Nat Dairy P pf A(7) Natl Fam Strs (1.60) Nat Fuel Gas (1) Nat Investors (new) Pub Sv A (1.60). Pub Serv B 1.60. Rub Mach (2). .. Nat Screen Serv 1.60 Nat Steel Corp xw (2' Nat Sugar NJ (2)..s Natl Transit (1).... Neet Inccv A (1.60). Nehi Corpn (1.30)... ada Cal Elec. Brad Ol (50¢) » o SR T T JOTEPRPNIVIST = 1Y - - 3 B E AR BARA AR~ ® d.. % Niagara Hud P(40c) Niag Hud Pw A war. Niles-Bement-P 131 Noma El Cor (1.60 Noranda Mines (3 North Am Aviation. No Am Aviat A war, North Am Util Sec. . North St Pow A (8).. Ohio B Tel cm p£(7). Onto Copper. .. Ohto Ol (12). Oflstocks,Ltd A $50e Orange Crush (1.560). Outbd Mot A (1.30).. Pac Coast Bis pf 3.50. Pac GAE] 1st pf 1%« Pandem Ofl. Pantepes Ofl. Param C Mfg (2.40).. Patterson Sargnt (2) Penn Mex Fuel (2).. Pennroad Corp...... Penna Wa & Pwr (3) Peop L&P A(82.40).. Petrol Corp (1%).en Philip Morris Ine. .. " S _em SrerrneT emIBomn N e e BerBenBuSe » Philippe (L)B(1.60). Pierce Governr(1%). Pilot Rad T A (1.20). Pitney B P n (20¢).. Plymouth O1l (3).... Polymet Mfg (31) Powdrell&Alex 3% . Pratt&Lambert (16) Premier Gold (24¢).. Prince & Whitely... Prince&Whitely pfs. Propper McCallm(2) Prudential Inv...... Pub Util Hold war. . PugSP&Ltpf (6). Radio Prod (50) RainbowLum! RainbowLumProd B Reiter-Foster (40¢).. Republic Steel n wi., Rep Steel cum pf wi., Reynolds Bros Inc... Reynolds Met n 2.40. Rocklans Lt&P(92¢). Roosevelt Field, Ine. Ross Stor o o P PYNSTNS - TR % Russek’'s St Anthony Gold. St Regis Paper (1), 8t Regis Pap pf(7)..260 Salt Creek Prod (2).. 7 Schiff (The) Co (3).. Schulte Real Estate. Schulte Un bc-$1 St.. Seg Lock & H (50c) .. Seiberling Rubber. 4 Selected Indusi Sel Ind allot efs 5% .. Sentry Safety Cont.. Shattuck Den Min 8 Eflica Gelet.... Singer Mfg Ltd(30e) Sisto Fin Corp. So Penn Ofl (123). . SoCal EdpfA(1%). SoCalEdpfC(1%). So Col Pow A (2 Southern Corp.:...e So Ice & Utilities B. So Pipe Line (12)...y Southland Roy (1).« SWGasUtil......s Stand Cap & Seal Stand Ol Ind (3%). Stand Oil, Kan (2)... Stand O1l, Ky (1.60)..- Stand Ofl, Neb(13%) 8t Ofl of Ohto (2%).. St Oil of Ohio pf (7). Stand Pow & Lt..... Stand Pwr & Lt. B St Pow & Lt pf (7)... Starrett Corp....... Starrett Corp pf (3). StelnA&Co cu pf 6% 1008 Stein Cosmetics Inc. 2 Sterch Br 8t (1.20).. 1 Stetson (J B) (6%). 1008 Stinnes (Hugo)..... 2 Nathan)1% 12 Strauss Roth. .. - Stutz Motor Car. = e peRa@upealacaneras [ » g .8 EYS-fH ® Switt Intern'l (234 ). Syrac Wash M B (1), ‘Tampa Electric (32). Technicolor, Ine. ... ‘Texon Of] & Land. .. Thermoid Co (2). ‘Transamer (31.60). Eocunar~ oanaaw~an - D DE(8). Tri Utilities (£1.20) .. Tri Utilities pt (3). Trunz Pork 8 (1. Tub Art Silk B ( Ulena&Co. ...... Ungerlelder ¥ Corp. Union Tobaeco. Uta United Corp war. Unit El Ser pur war, Utd Founders(b2.85) United Gas Co. . Utd Lt & Pwr A ( Utd Lt & Pwr pf (6). Unit Sh Mch (13%) U S Dairy (A) (5) USE u maaban Srann 171 112% % 1 70 10% 341 13% 0% 27 2 2% 8% 26% 20% 14% 83 38% 22% W 6% | year ending January 31, 1930, reflects 20% | put of crude oil in California during the | eer March Utllity Equities, 8 Vacuum Ofl (143).. 43 4 Van Camp Packing.. Veneszuela Ptm(30c). Viek Fin Corp..e.cei 8% Waitt&BondB(1.40). Walgreen Co. Walker (H) (1 Walker Mining. 16% 16% | 154 % “Y" Oil & Ga: Y M. 17% Zonite Prod (1.60)... 16 18 RIGHTS. 18% Expire. % Consol Film. 52 % 3% Con Gas Balt.. 45 4% 4% % Eisler Elec. 84 % 7% New Eng T T. 1y 2 8% 8% #& & Newport Co.....N 18 % % Dividena annusi_payment. *Ex-dividend. rates in dollars hased op iast quarterly or semi- TPartl 13% | cash or stock. " b Pavable 1o $tock. ex’ra_ tPlus extra in stock. a Paysble ta T8 extra 2 Pasatle d Payable in GAIN IN INDUSTRIAL AGTIVITY REPORTED Month of February Showsg Increase Over January in Electrical Survey. By the Assoclated Press, NEW YORK, March 17.—Based on the consumption of electrical energy by 3,800 manufacturing plants throughout the country, industrial activity in the United States last month increased 1.4 per cent over January, Electrical World reports. The percentage of gain is ma- terially under the normal upswing in industry for this season of the year, but general manufacturing activity in Feb- ruary was slightly higher than for the preceding month. Seven industrial groups reported in- creases over January, as follows: Fer- rous and non-ferrous metal working plants, 3 per cent; Jumber and its prod- ucts, 8.2 per cent; automobiles and ac- cessories, 17 per cent; paper and pulp, 14.2 per cent; rubber products, 28.4 per cent; chemicals and chemical products, | 2.1 per cent, and shipbuilding, 0.8 per cent. On the other hand, four important manufacturing groups reported the fol- lowing decreases in rate of operations as compared with January: Leather i products, 6.3 per cent; textile, 8.1 per cent; stone, clay and glass, 6 per cent, and food products, 2.3 per cent. Rolling mills and steel plants reported the same rate of operations as for January. Manufacturing Gains. Manufacturing in general reported a February rate of activity about 12 per cent under February last year. All but five manufacturing groups reporuz a material drop in February operatiens as compared with February last year. The five industries reporting increases over last year were paper and pulp, with an increase of 9.8 per cent; Tubber products, 19.8 per cent; chemicals and chemical products, 0.6 per cent; food products, 1.3 per cent, and shipbuilding, 314 cent. Mmfumflnl groups reporting a de'; ereased rate of operations, as compared | with February last year are as follows: Rolling mills and steel plants, 12.4 pl‘li ceat; ferrous and non-ferrous metal working plants, 15.1 per cent; leather products, 15.3 per cent; textiles, 22.'.? per cent; lumber products, 12 per cent: automobiles and accessories, 27.8 per cent, and stone, clay and glass, 21.5| per cent. The average rate of general manufacturing for the first two months of the current ygl:dhl lglyev.erz cent un- sam ast 3 e Every “section of the country except New England reported an increase in the rate of operations for February as compared with January. The Western States led in the amount o with 13.4 per cent, followed by the| Southern tes with 7.6 per cent, the | North Central States, 6.9 per cent and the Middle Atlantic States, 0.2 per cent. Due largely to a material drop in the | activity of the textile mills of the sec-| tion, New England manufacturing de- creased 6 per cent. Rubber Products Industry. E The outstanding increase in rate of operations was that recorded by the rub- ¢ ber products industry. This industry descended to & comparatively low plane of operations during ‘November and De- Fomsed a distinct upward trend, and this | ne: 3 | trend was accelerated during February, when operations were 28.4 per cent| above January, 71 per cent above De- cember and 19.8 per cent above Febru- , 1929. | lr!'Auwmuhlles‘ including the manufac- ture of parts and accessories, showed 17 per cent increase in February ope: ations as compared with January and a 46.8 per cent gain over December. February operations, howover, were still 27.8 per cent under February last year. The textiles industry appears to have resumed & downward trend after a small increase in January. In the country as a whole this industry was operating during February on a plane 8.1 per cent under January and 22.3 per cent under February last year. The textiles in- dustry of New England appears to ha been especially hard hit. February te: tile manufacturing in_that section. was 16.6 per cent under January and 24.6 per cent under February last year. In the South the February rate of oper ations appears to be about the same as January, fixl still on a plane about 40.5 per cent under February last year. Rates Compared. The rate of manufacturing activity in February, compared with January, all figures adjusted to 26 working days and based on consumption of electrical en- ergy as reported (monthly average 1923- 24 equals 100) follows: 25 oot BEEEEensonaanEE SRRRL8eACREARES! o tamr e a3 @' od . G gfllphul ng . tone, clay an -— | Industrial Finance Corporation. | The annual statement of the Indus- | trial Finance Corporation for the fiscal In January, however, it wit- | the most prosperous year in the history | of the corporation. Net earnings on a | cash and accrual basis, after the pay- | ment of all interest, taxes and other | charges, were $1,244,194.41. After pre- | ferred dividends the balance available | for the common stock was $942,601.79, | equivalent to $5.53 per share on 170,304 | shares of common stock, as compared | with net earnings for the fiscal year | ending January 31, 1929, of $5.11 per | share on 156,200 shares. In other words, earnings for the year just closed, related to the number of shares of com- mon stock outstanding January 31, 1929, would be equivalent to $6.03 per share, compared with $5.11 per share earned in the previous year. | Baltimore County Bonds. BALTIMORE, March 17 (Special) — Baltimore County will open sealed ten- ders on March 25 on a new issue of $600,000 4% per cent serial bonds. Proceeds from this financing will be used for road construction purposes. 1t is understood that other Maryland to sell bonds counties are plann u.lmrt‘ll e for the same y to raise fun purpose. — OIL OUTPUT DECREASES. NEW YORK, March 17 (#).—The out- 15 & 646,000 6% " barrels daily, & docrease of 12,500 bar- B rah";r:m that of the previous week. PATHE NEWS REELS MADE IN COLORS Motion Picture Firm Presents First Films Produced by New Methods. | 5 Special Dispatch to The Star. NEW YORK, March 17.—Pathe Ex- change, Inc., today announced the first release of newsreel fllms in natural color for Pathe Sound News. The pic- tures are made with a new type of color-sound camera evolved in the last year by the Pathe research staff. The detalls of the process, which is named “Pathe Coloratura,” are not made pub- lic. An extensive investment in equip- ment and processing facilities has been absorbed in the operation of Pathe Sound News. ‘The first subject to reach the screen by the new news process depicts a Mardi Gras parade in New Orleanc. The Pathe coloratura cameras operate in synchronism with the standard RCA sound-recording apparatus and involve no changes of sound technique. The pictures are made on special negative and positive films produced for Pathe by the Dupont Pathe Film Manufac- turing Corporation. DIVIDENDS DECLARED. NEW YORK, March 17 (#).— Regular - Pay- Hidrs. of Compan, ecord. Am Com 1 W 36 Do. 36 1st pf. re M Mi My M crvstaiite Pro Det Elec A Diamond Shice. = 5 B B G G e B e B Q Apr. Apr. Mar. 1. W' 85 P_Milis pf. Waltham Wat pr pf Sloan & Zook Pr....sl.. Initial. Can Investors Ltd....25c Q May 1 Sloan & Zook Prod...50c Q Mar. 3 Accumulated. Crystalite Prod ptf..$175 .. Apr. Increased. Ideal Pinan Assn A.12%c Q Apr. Omitted. Curtiss Alrpl & Mot..50c Q ist pf.§1.78 @ . 2d D S1T8 Q Melrose B & Mte.33.50 8 R vry . +.30c Due Mar. -A Q Due Mar. 13375 8-A Due Mar: o Lo ‘Through railway traffic between Peiping and Hankow, China, has just been resumed. NEW YORK COTTON. NEW YORK, March 17.—All months were sold down 7 to 14 points at the cotton exchange opening today. Most of the liquidation, which came from the South and from professional operators, was absorbed by the trade and buying for foreign account. Opening prices were: March, 14.67, off 9; May, 14.90, off 7; July, 15.09, off 8; October, old, 15.12, off 12; October, new, 14.90, off 14; December, old, 15.30, off 12; December new, 15.11, off 12; January, old, 15.36, off 11, and January, new, 15.18, off 11. GRAIN MARKET. Special Dispatch to The Star. CHICAGO, March 17.—The wheat market had a sharp advance on open- ing trades today under general buying and short covering, influenced by strength in Liverpool and Buenos Aires. Pressure was light. March opened, 1.03%; May, 1.073% to 1.08; July, 1.05% to 1.05%. After the first half hour March, 1.03%; May, 1.07%; July, 1.053. Corn was sharply higher under short covering because of improved cash de- mand and strength in wheat. March opened, 78%: May, 82% to 82; July, 83 to 84. After the first hi hour March, 78%; May, 82%; July, 8: Oats were firm. May opened 42, After the first half hour May was 42. Provisions were firm. Giving special point to a rise of 314} alues at {3 K pence per bushel in wheat Liverpool today were advices that Liver- pool stocks of wheat had been curtailed 370,000 bushels and that arrivals of wheat at British ports showed 800,000 bushels falling off. Under such circum- stances, word of showers over a good part of Kansas failed to act as a market on counterbalance here, and commission house buying was decidedly more in evidence than of late has complaints of damage Sout Tllinois and Southern Indiana. Many flelds were said to show extensive 731 |injury as a result of soil heaving and because of Hessian fly ravages. On the S | other hand, overnight demand from Europe for wheat from North America gave but little sign of any nronounced enlargement. Co-op Citrus Marketing. More than 60 cent of the 1928- llflkcal"l\ll'cmm. g:'“h it in -I_!tl,lwry.hm markel co-operative ‘chan- nels. One Cfl”m’nh association han- dled 713 per cent of the California crop. ‘The citrus exchange in Florida marketed 33 per cent of the Florida crop. . To Modernize Stores. NEW YORK, March 17 (#)—Mod- ernization of 50,000 independent retail dry goods stores during the next two years is the goal set by the Whole- sale Dry Goods Association. Money to Loan l.'lnll:n ‘Frevalling interest and Srer Joseph 1. Weller £ 7ok 4 4 T | & .i "'1‘ ‘ ers Fuel Supply NVESTIGATE 5.3 GASHEATING . TERMS TO SUIT YOUR CONVE .. ESTIMATES FURNISHED ON REQUEST PHONE NATL.8280 OR WRITE WASHINGTON GAS LiGHT .4 If You Had a Magic Carpet— to lift you into a world free from financial worry . « « if you knew how to fa hion this “magic carpet” . . . wouldn’t you create it? The magic wand to produce this “carpet” is within your reach! This is not mere imagina- tion. For, like thousands of wage earners in Washington, you, too, can weave the s sturdy fabric of a financial reserve whic! ng, will carry you through future days. The method is simple. By purchasing First Mortgage tain. The results are \cer- tes such as are sold through Swartzell, Rheem & Hensey Company you obtain a first rank in- vestment that yields annually. you 6 per cent interest And with your modest savings plus the magic 6 per cent income annually you will steadily accumulate a handsome nest egg— as they have for thousands of investors for more than 60 years. You may obtain First Mortgage Notes in amounts of $100, $200, $500 and upwards. SWAmrLi. RHEEM & HENSEY Co. MORTGAGE BANKERS 727 15 STREET N.W./ WASHINGTON ST T +Co Secretary Believes Lower In- terest Rates Will Aid Con- struction Programs. By the Associated Press. Secretary Lamont said today that the lower interest rates on money through- out the country should permit an im- rtant speeding up during the next ‘ew months in new construction which he said already had been stimulated by the “remarkable co-operation” from the various States. The Commerce Secretary asserted the high interest rates during the past year had been one of the major factors in slowing down construction and added that while the rate had dropped in New York the easier money conditions have not yet spread throughout the country. This condition could not be worked out in 24 hours, Mr. Lamont said, the situation is gradually loosenin; construction during the Spring be_greatly aided by the easier mon been push- ing public construction and have been alded by .the Government wherever possible. The State of Ohio was cited Mr. Lamont as one of the States whis gone farthest in its efforts to offset the depression following the stock market crash. Ohio, he said, has let approxi- mately $9,000,000 in road contracts since December, during a period when road construction ordinarily is at a standstill in that section. The Secretary added that 86 county committees, composed of laborers, manufacturers, merchants, bankers and others; have been formed in that State to stimulate private enterprise. Secretary Lamont also said his de- partment was working toward s con- stant check*upon the number of un- employed in the country. Real Estate Loans Made Money to Loan Property in the District of Columbia First Trusts Only Immediate Attention Wn. H. Saunders Co,, Inc. | 1435 K St. N.W, Dist. 1015 First Mortgage Loans Lowest Rates of Interest and Commission | Thomas J. Fisher & Company, Inc. the IDEAL 1 and GRO of Er;h?i el ol vest for funds and ‘funds of organizations. Sold in Lots—$100.00 Up Call or Write Standard Collateral Shares Corporation MONEY ON HAND for Construction Loans James F. Shea 643 La. Ave. N.W. Applications Invited at Current Rates of Interest on improved property in the Dis- trict of Columbia and nearby Maryland. Prompt Service —Minimum Charges HANNON-& LUCHY)| 1435 K St. Interest Guaranteed —in SAFE GUARANTY FIRST MORTGAGES These safe investments are secured on paying Washington Real Estate $3,800,000 re- {and backed by our ; sources. ' | Employ your funds to earn 6%% [ with safety of principal and interest. gDenomimtions as low as $250 . Monthly Payments if Desired Send for Booklet, “The Success Plan” - REALESTATEi MORTGAGE & GUARANTY: CORPORATION Capital Resources, $3,800,000 24 JACKSON PLACE %%