Evening Star Newspaper, April 11, 1930, Page 13

FINANCIAL. LANSTON SELLS P 10§12 PER SHARE National -Savings & Trust] Also Gains 20 Points—Other Local Issues Active. 'y BY EDWARD C. STONE. Lanston Monotype stock, which closed yesterday at 117, opened today at 117}, and then figured in a sensational ad- | vance to 125. The opening sale wa: 10 | shares. Five shares then changed! hands at 1172, 10 at 118, 10 at 119, 19| at 120 and a single share at the 125 top. the day’s turnover being 46 shares. The sharp advance was no doubt due tc the declaration of an extra dividend of 25 cents per share in Philadelphia yes- terday. | National Savings & Trust Co. stock also drew special attention. Five shares | sold ar 575, 15 points above the last | sale; five more touched 580 and 10 more changed hands at 579. District Na-| tlonal Bank stock sold at 215. Mergenthaler Linotype was active and strong, an even 100 shares selling at 108. Railway & Electric preferred sofd at 58, Merchants’ Transfer & Storage common at 110 and Peoples Drug Stores prefer- red at 109. Capital Traction moved in several very small lots at 79 and Poto- xlnnnBfi,Elenric 5128 per cent preferred at 5. Bonds were in fair demand again to- day with practically no changes in price levels. 3 5 Lacey New Columbia Cashier. Robert H. Lacey has been elected cashier of the Columbia National Bank, succeeding Arthur N. Mitchell, who re- cently retired on account of his health. Mr. Lacey has been assistant cashier, 8OINg to the Columbia in 1923, after starting his banking career with the American National Bank, which later became merged with the Federal-Amer- ican. His first position with the Colum- bia was that of bookkeeper, his ad- vancement having been rapid through various other important positions since that time. Mr. Lacey was born and reared in ‘Washington, is a graduate of the Ameri- can Institute of Banking and has been active in the work of Washington Chap- ter for several years. He has been treasurer and assistant secretary and during the present year chairman of the membership committee, playing an im- portant part in lifting the enrollment to a new high record. The new bank cashier is a World ‘War veteran, having been wounded in action at the Marne, and also in the Argonne. He is a member of Costello Post, American Legion. His election took place late yesterday, and he as- sumed his new duties today, President Frank J. Stryker announced. Richmond Cuts Rediscount Rate. ‘The Federal Reserve Board announces that the Richmond Reserve Bank has reduced the rediscount rate from 4!; to 4 per cent, this action having been taken by the board at yesterday's meet- ing. This leaves only Atlanta, St. Louis and Minneapolis with a 4l; per cent rate. The New York rate is 3!z per cent, and the rest of the Reserve banks are charging 4 per cent. The consolidated statement of the Federal Reserve banks on April 8, made public by the Federal Reserve Board, ghows decreases for the week of $15.- 000.000 in holdings of discounted bills, | $34.300.000 in bills bought in open mar- ket and $3.100,000 in United States Government securities. Member bank reserve deposits declined $30.700,000. Government deposits $13,200.000 and Federal Reserve note circulation $17.- 800,000, while cash reserves increased $12,500.000. Total bills and securities were $52.300.000 below the amount re- ported a week ago. A. I B. Delegates Nominated. At a meeting of Washington Chapter, American Institute of Banking, last night the names of 50 members were placed in nomination to go as repre- sentatives of the local organization to the annual convention of the institute to be held at Denver next June. The| election of delegates will take place | April 24, and those selected to represent Washington will leave in time to attend the sessions in Denver from June 16 to 20. Announcement was made yesterday that the annual golf tournament will be held late in the Spring, at which the silver trophy donated b¥l W. W. Spaid, & former president of the chapter and of the District of Columbia Bankers’ Association, will be competed for. Lanston Declares Dividends. At & meeting of the board of directors of the Lanston Monotype Co. in Phila- delphia yesterday an extra dividend of 25 cents per share and the regular quar- terly dividend of $1.75 per share were deciared. Both dividends are payable May 31 to stockholders of record May 2 F. W. Woolworth Co. has declared the regular quarterly dividend of 60 cents a ahare, payable June 2 to stock of record April 21. Brokers’ loans increased $26,000,000 in week to $3,094,000; Federal reserve sys- tem ratio at 81.5 per cent, against 79.8 per cent week ago and 73.8 per cent year ago; New York ratio, 76.6 per cent, against 72.9 per cent and 81.9 per cent, respectively; no announcement on re- discount rate, which remains at 3}2 per eent. ‘The number of unemployed persons in the fifth district has remained un- changed during the past six weeks, ac- cording to a Federal reserve report. Bome additional work developed in cer- tain industrial plants. Number of jobs will probably increase soon, especially for workers in building trades and un- skilled laborers who seek employment in road work. Heard in Financial District. One day tais week 10 local banks sent in reservations for 110 seats at the re-convention dinner of the District glnken‘ Association, to be held at the Columbia Country Club next Monday evening. “It looks as if the attendance would be as large as the turn-out for the opening ball on the same date,” President Waller opined today. The boards of governors of the New ‘York Stock Exchange and the New York Curb Exchange have voted.to close the exchanges on Friday. April 18 and Saturday, April 19. This action no doubt means that the Washington Stock Exchange will be closed on the same dates. Many local bankers were in Rich- mond today, attending the anual meet- ings of the stockholders association of the Federal Reserve Bank. Roger W. Babson called on Crane. Parris & Co. and other local financial houses this week on ‘way from Florida to his home in Massachusetts. The Chesapeake & Ohio Railway has been authorized by the Interstate Com- merce Commission to construct a 15-mile extension of its line in Raleigh County, West Virginia, between Edwight and Surveyor, to cost $3,592,470. The Seaboard Air Line Railway has applied to the Interstate Commerce Commission for authority to issue $1,284,000 bonds, consisting of $653,000 of 4 per cent refunding mortgage bonds and $631,000 6 per cent first and con- lidated mortgage bonds. ‘o'fl’l. Missouri Pacific of t gold bonds, series H. ‘:lnn b:.:-ola -‘t’:noe leuedthln’nufl;/‘. pe; and accrus rest, an oo wuaed to ulmdburle“ v.h; carrier'’s treasu for expenditures -heretofore mlde.r:nd to acquire additional equip- ment. & NEW YORK, April 11 (#).—The ‘ban-American Telephone Co., jointly by the American and the Inter- national Telephone & Telegraph Cos., has the laying A for an ad- ditional cable between this country and ‘Cuba. Notice—All stocks are sold in one-hundred share lots | —Prev. 1930~ ting those designated by the letter s (658) shows those stocks to be sold in odd lots only. Sales of Each Stock Compiled to 12:30 P.M. ~Prey. 1930.~ exce) whicl 2 22% o Stock and Sales— Dividend Rate. Add 00 High. Low. Abitibl Power & Pap. 1 Bee 1 I Adams Millis (3)... Advance Rumley.... Advance Rumley pf. Abumada Lead. Alr Way Bl Ap(3%). Ajax Rubbe Alnska Juns Albany | W Paper, Allegheny Corp. Alleg Cp pf ww(b%) Alleg Corppf (5%). Alleg Cp pt (5%)xw. Alleghany St1(12.80) Allled Ch 6) Allis-Chalmers (3).. Alpha Port Cemt (3 mNth“h'flq arprmaSanened Am Brown Bov Eles. Am Can (4)... . AmCar & F ot (7)., Am Chain Co (3) Am Chain pf (1) Am Chicle Co (13%) Am Com Alcoinl 60) Am European See. .. Am & For Power. . Am&Forn Pwr pf( Am&Forn Pwr 3d pt. 1) o ot S s - yorey 853 Am Loco bf (7). Am Mach & Fdy Am Metal (3) Am Metal pt Am Plano. Am Power Am P&L pf A st (6). Am Ra&Std San 1%.. Am Republic Am Rolling M Am Tel & Tel (9. Am Tobacco (8. Am Writ Paper otf: Am Zinc Ld & Sm. Am Zine pt (6) Anaconda Cop! Anaconda W&C (3. Anchor Cap (3.40)... Andes Copper (3)... Archer-Dan-M (3).a Armour 111 (A). Asso Dry G (3%). Atch T & 8 Fe (10).. Atch T&SF pf (5)... Atl Coast Line (110) AUG& W Indies. ... Atl Gulf & W 1 pf(8) Atl Refining (12) Atlas Powder (4). Atlas Stores (1)..... Auburn Auto (36)..e Austin Nichols Austrian Cred (4.49) Autosales. e Auto-StSaf RA (3). Aviation Corp Del. .. Baldwin,Loco (1.76). Baltimore & Ohio (1) Bang & Aroos (33%). Barnet L all. A (3 Bayuk Cigar (3) Beacon Oil. venantSornnnlonnannnns —a Se 15 19 Beatrice Ci . Beech-Nut Pkg (3).. Belding-Heminwa; Belg N Ry pt pf 6.4 cans Bendix Aviation (2). 30 32 4+ Borden Co (k3) Borg Warner ( British Empire Steel British Em Stl 3d pf. Brockway M T.. Bkiyn-Manbat (4 Bklyn-Man Tr pf ( Brooklyn & Queens. . Bklyn&Queens pf (4) Bklyn Unton 5) Bruns-Balk-Col Bruns Ter & Ry Bucyrus Erfe (1).... Bucyrusecv pf (3%). & enbanSESvmnunnen o PNENESANNBNON oM NN DS S Bush Termnl (23) Butte Copper & Zin Butte & Superior. Butterick Co. - Capital Adm A p! Case (J 1) (8) Ca Cbecker Cab Ches & Ohio ¢ Chesapeake Corp Chi & Alton Chi Great Western Cht Great Westn pf. Chi Mill St P&Pac Chi Mill St P&Pa¢ Chicago & N W (§) Chi Pneu Tool. Chi P T of ChiR1& Pac (1) Chickasha C Ol ( Childs Co (2.40). Chile Copper (15). Chrysler Corp (3). City Ico & ¥ (k3.60). City Stores (50e).... Clark Equipment (3) Cluett P;-My *).. e NN A e T e T Y Colgate-Pal-P (3%) Collins & Alkman. .. Collins & Alk f (7). Col Fuel & iron (3). £l 3) S E1- 18 T s HEent ‘Conde Nast Pub 3| Congress Cgr (15%) Consol ¥ilm (3) ... Conso! Fim of ¢3). Consol Gas N ¥ ¢4). Consol Gas NY of (§) Consol RR Cub pf(6) Gonsol Tex! 5 Container A 130 Contatner Beee o owennSten=e THE EVENING STAR, WASHINGTON, D. €, FRIDAY, APRIL 11, 1930. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. High. Low. il 85% Contl Haxing A 84 33 Cuba Cane Products. % Cuba Cane Sugar.... 9 Cuba Co. .o 6% Cuban-Amer Sugar.. 44% Cudahy Packing (4). 118 Curtis Pub Co(16% ) 114% Curtis Publish p£(7) 6!4 Curtiss Wright Corp 18% Curt Wright Corp A. 64 Cutler-Hammr(3%). 28% Davison Chem. Drug Corpn (4)..... Dunhill Inter (34) 11214 Du Pont de N (14.70) 20% Estn Roll Mill(h12). 175% wastman Kodax (18) « 94's Eng Pub Svopt (5% 55 Eng Pub 8 olfs (31). 39% kquitable Bld 55% krie RR 61% Erle R R 181 B 34'; Falrbanks Morse ( 61 Fash Pk Ass0 pf (7). 7% Fed Motor Tr (800).. 3213 Fed Wat B, A (02.40) 29 Federated Dept Strs. 6514 F1d Pho Fire 1(3. 26 Firestone T&R(1.60) 79% Firestone T&R pf($) 50% First NatStrs (3%). 3 Fisk Rubber.. Follansbee Bros (3). 60's Foster Wheeler (3) .. 16 Foundation Co. . 46% FourthNatl In 16% Fox Film A (§; . 38 Freeport, Texas (15) 3% Gardner Motor... 12 Gen Amer investor: 99% Gen Am Tnk Car(34) 49% Gen Asphalt (§)eeee 464 Gen'l Food Corpn (3) 13% Gen Gas&El A(new) 39% Gen Ital £d (a2.62).. ral Mills (3)... 37y Gen Motors (13.30). Gen Refrac (14%).. 39% Gen Theat Equip vts 8113 Glllette Saf Ras(nf). 1133 Gimbel Brothe: 31 Glidden Co (h3) 13 Gobel (Adolf) 40% Goodrich B F (4). 95% Goodrich pt (1) 62 Goodyear Tire (5). 90 Goodyear 1st pf (7). 21% Gotham Silk H (3%) 324 Grand Stiver Strs (1) 90% Grt North pfet (5). 1 GtNctfsOP Grisby Grunow. Gulf Mo & North. Gulf Mo & N pf Gult Sta Steel (4 Hahn Dept Stores. .. Hahn Dept 8 pf(6%) Hershey Choe p2(18] Hoe (R) & Co. vee Holland Fur (e12%). Hollander S Houdaille Her B (3). H’hold Fin pf (13%). Hupp Motor Car (3). 1llinols Central (7).. Stock and Sales— Dividend Rate. Add 00 19 e SrRanarsnrranedScamenon Independ O1l & G (3) o | Ind Motor Cyel Indus Ray (b5 %stk). Ingersoll Rand (4).. Inland Steel (4) Inspiration (4)..... Insurance Shars ¢8e. Interboro Rap Tran. Intercontinental Rub Interlake iron (1).. 5 Int] Harvester (33) Int Hydro Bl A (e3). Intl Mateh pf (4)... Intl Mer Marine (1). fot Nickel of Can (1) Intl Pap & P A(3.40). Intl Pap & Pwr B.... intl Pap & PwrC.... Intl Printing Ink (3) Int] 8000 (3)...u. e Int Tel & Teleg (3).. Inter Dept 8t (3).... Investors Equity(3). Island Creek Coal(4) Jewel Tea (4). Johns-Manvilie (3. Jordan Motor Car. Kan City Sou (6). Karstadt (R) (1.03). Kayser Julius (4). .. Keith-Albee-O pf (7) Kennecott (6)...... Kresge(88)Co(1.60) Kress (SH) (1)..... Kreuger&Toll (1.34) Kroger Gr&Bak(nl). Lago O1l & Trans. Lambert Co (3)..... leo Rubber & Tire. . Lehizh Valley Coal. Leh Val Coal pf ¢3). Lehman Corporation Lebn & Fink (3).... Libbey Owens (1)... 1 91% Liggett & Myers(15) ' 9% Ligs: ett&Myrs B(15) 36% Lima Locomotive... 52% Liquid Carbonie (4). 42% Loew’s Ine (3. bl . 85% Loew’s, Ine pf (6%). 8% Loft. Ine..... . 50% Loose-Wiles (13.10). 16% Lorillard (P) 8 LoufsianaOil,...... 38% LouG & E1A (1§). 128 Louis & Nash (7)... 32% Ludium Steel (3) .. 90 Ludlum St pf (83%). 28 McAndrews&F 13.35. 40% McCall Corp (3%).. 92 McCrory pf (6).es.s & Kimberly-Clank(13). o Sr-me - wularBuac o an e@-E= 1 36 1 48% 484 1 96 96 — (Continued on Page 14.) Prev. 4:88. Close. 36% 5% 864 68% 864 1% - 8% 7 29% 86% 106% 30% 32 21% 19% 90% 20 894 4% 1 4% b52% 18% % 934 110 6% 62% 104 1024 66%s 43 b8 64by 24 47 65 11% 40% 82% B4ty 274 86 86 5 adn 89 STOCKS DEPRESSED| \ BY HEAVY SELLING SENTIMENT AHEAD OF STEEL DEMAND Price Movement Is Influenced!Iron Trade Review Reports by Denial of Merger and Tokio Crash. BY STANLEY W. PRENOSIL, Associated Press Financlal Editor. NEW YORK, April 11—The stock market turned reactionary after an opening period of strength today, with the selling influenced by a denial of merger rumors involving Public Service of New Jersey &nd United Gas Im- provement and the closing of the Tokio Stock Exchange as a result of a col- lapse of securities prices in that mar- ket. Trading again was in heavy vol- ume, total sales in the first two hours running above 2,600,000 shares, with the ticker running about 20 minutes behind the market at 1 p.m. ‘The market opened with an outburst of strength, with pools again taking several blocks of 5,000 to 15,000 shares. Many issues were marked up to new 1 high levels for the year on gains which ran from fractions to more than 6 points. Coppers were heavy from the start, but the selling spread to the pab- lic utilities and motors, and by early afternoon the reactionary movement had covered the general market, a 1 sprinkling of issues, as usual, showing independent strength. ‘While little information was available here concerning the extent and impor- tance of the economic crisis in Toklo, most_brokers were of the opinion that its effect on the local market would be largely sentimental. Bear traders, who have been seeking to unsettle the general list for days, were quick to take advantage of this development. The early rise had received consider- able impetus from the unexpectedly small increase in Federal Reserve brokers’ loans. Bradstreet's continued to characterize business as “fair d l}:llelfl‘ pointing out, however, “that the long-awaited warmer weather and the advance toward Easter have given a further slight impetus to distribute trade, this more particularly in retail lines than in wholesale or jobbing dis- tribution, while industry shows indica- tions that the livening up visible in late March and early April have been fairly well maintained.” NEW YORK, April 11.—The follow- | ing is & summary of important corpora- tion news prepared by Standard Sta- tistics Co., Inc, New York, for the Associated Press. News Trend. Trade and financial news of the day was mostly favorable. Brokers' loans in the week ended April § expanded by lldvnnced about 3 per cent. Wholcsale commodity prices registered anotner in- crease during the week of April 8. O that date the Analist wholesale com- modity price index stood at 135.0, an advance of 0.8 points from the previous week and 1.2 per cent above the low of March 18. It is now 12.7 points below a year ago. Of the eight groups comprising the index farm products, food products and fuels advanced, | building materials and chemicals re- mained unchanged, while textiles, metals and miscellaneous declined. The textile index dropped to & new low because of lower prices for raw silk, worsted yarn and cotton goods. Lower prices for lead and tin lowered the metal index and a decline in -ubber E’lcu caused the drop in miscel- neous. Price of Midcontinent crude oil has been advanced 10 to 13} cents a barrel by Gulf O], Humble Oil & Refining and Magnolia Petroleum. The Companies. Associated Laundries of America T:;x;ed 51 cents on common stock in Brill Corporation, subsidiary Ameri- can Car & Foundry Motors, had deficit of $347,444 in 1929, against deficit of $971,627 in 1928, Crosley Radio merger negotiations with Magnavox Co. and Amrad Radio reported approaching completion. Fox Film two suits, one brought by H. L. Stuart and J. E. Otterson, the other by Mr. Fox, both involving the exercising of trusteeship or voting rights of class B stock, have been discontinued. Preeport, Tex., opposition stockhold- ers’ committee win proxy contest against management. New board of directors was nominated and elected. Gamble-Robinson Co. earned 63 cents on common stock in year 1920. In eight months to December 31, 1928, earned $1.53. Gulf Oil advances price of gasoline 1 cent a gallon in New York State and New England. Indian Motor Cycle holder of 20 shares of stock seeks ;rpolmmem of receiver, alleging block 50,000 shares of stock recently admitted to trading on the New York Stock Exchange were fraudulently issued. Kreuger & Toll takes over stock of Swedish Match Co. and other stocks held by lsvmlm'n-Amex-icm Investment Corporation. mucn Square Garden earned 95 cents on common stock in nine months 4 |to February 28, 1930, against 99 cents in like 1929 period. 1. Miller &Wm' Inc., earned $3.82 on common stock in year 1929. Nash Motors declares regular quar- terly dividend on common stock, pay- able May 1, 1930. National Container earned $1.14 on common stock in 1929. Park & Tilford earned $4.72 on com- mon stock in 1929, against $6.06 in 1928. Philadelphia Co. earned $12.57 on com'mnn stock in 1929, against $9.55 in 1928. Sinclair Consolidated Oil subsidiary advances price of gasoline 1 cent a gallon at all points in New York, ex- t Buffalo, and in New England. u%nm Elliott _Fisher $1.89 on common stock in quarter to March 31, 1930, against $2.63 in like 1929 quarter. ‘Wells-Newton National earned $2.68 on common stock in 1929. INVESTMENT TRUSTS NEW YORK, April 11 (#).—Over the counter market: Big Asked % Am e oil 8h T8 e 18 & Pow Shares 5. nged U 8 Elec Others unci NEW YORK BANK STOCKS NEW YORK, April 11 (#).—Over-the- counter market: th Aventi First Natiogal New ¥ork | Harriman Nationsl Manhattan Co. Benkear maiover IF Bank & naare $26,000,000; in the same period over | composite index of 90 common atocks | Expanding Orders Mostly for Auto Industry. Sentiment in the iron and steel in- dustry continues to outrun actual demand, but its lead has been cut down somewhat by heavier specifications from the automotive industry and a slight acceleration in general buying, says Iron Trade Review, Cleveland. Requirements of the rallroads, struc- tural fabricators and general manufac- turing trade have been only moderately below a year ago and for the past three weeks have been expanding slightly. To the automotive industry is traceable the major share of the spread between this and last year's situation. Now that a definite, although con- servative, upward trend is discerned at Detroit, iron and steel producers lock for gradual fmprovement in their posi- tion this quarter. This week they have increased their operations to 77 per cent, compared with 76 last week and 74 two weeks ago. Production Stepping Up. Youngstown mills at 70 per cent and Cleveland at 76, each have recorded gains of 2 points. Chicago mills are holding at 90 to 95 per cent, Pittsburgh at 75 and Buffalo at 77. Steel corpora- tion subsidiaries this week are at 84 r cent, against 83 a week ago, while dependents have stepped up from 69 ¢ per cent to 70. ' Disclosure that steel ingot operations in March declined 2 per cent contrasted with an increase of 4 per cent in pig iron, is not disquieting in view of the steady but slow expansion thus far in April. March's ingot rate was 164.961 gross tons, compared with 169,499 tons in February and 194,548 tons last March. The March total of 4,283.985 tons brings the first quarter production to 12,143,406, contrasted with 13,874,612 tons a year ago. Finished steel prices continue spotty, with no noticeable accession of strength through increased demand. For attrac- tive orders producers of most lines con- tinue willing to make concessions. Sheets and strip still are relatively weaker than the heavy finished lines, with open reductions in sheets at Chi- cago. Iron and steel scrap prices are softer, but there is more indication that bottom 1is near. Pig iron quotations generally are unchanged. Pig Iron Sales Brisk. Pig iron sales are brisk, including 23,000 tons at St. Louis, 10,000 tons at New York, and 7,000 tons at Boston, but accent now is on shipments which at Cleveland are the heaviest since November. and at Birmingham are being made from stock. Some quiet closing is reported at Pittsburgh. Dullness in the Lake Superior iron ore market, an unusual condition fol- lowing the opening last week when the Pord Motor Co. placed 441,000 tons at 1929 prices, is attributed to uncertainties engendered by merger talk in the Middle West. The first shipments are expected about April 20. A decline of 5 cents in the Iron Trade Review composite of 14 leading iron and steel products lowers this index to $34.52, compared with an average of $34.95 for March and $36.81 last April. It is the lowest since March, 1922, NEW SECURITIES NEW YORK, April 1] (#),—New securities offered today includ Consumers Power Co., $20,000,000 41; per cent first lien and unifying mortgage gold bonds, series of 1928, dated November 1, accrued interest, to yield about 4.70 per cent. d by Bonbright & Co. the Natonal City Co. and the Bankers' Co. of New York. Columbia Pictures Corp., 50,000 | shares no par common stock (voting trust certificates) at $42.50 a share. Offered by Goddard & Co. EXCHANGES WILL CLOSE BALTIMORE, April 11 (Special) — ‘The governing committee of the Balti- more Stock Exchange yesterday voted to close the exchange on Saturday. April 19, as well as on Good Friday, April 18. The Grain and Produce Exchanges also will be closed on Friday, a legal holiday in Maryland, but will be open on_Saturday. Banks and other financial institu- tions will be closed on Good Friday, but will observe the usual hours on the Sat- urday following. o TU. 8. TREASURY BALANCE. The United States Treasury balance announced today as of close of business April 9 was $296,370,033.63. Customs receipts for the month to date were $11,950,444.52; total ordinary expendi- tures, $10.951.940.10. EASTERN UTILITY INVESTING CORP. Class A Common Stock on New York Curb at less Real Estate Investments JAMES Y. PENNEBAKER Nat.5291 1520K St. N.W. BUSINESS INSURANCE A New Low Cost Life Contract Age 3slol ‘oats $140.50 per annu Insurance’ Exciasively Twenty Years 'All B 2 Transacted LEROY GOFF 1086 Woodward Building First Moglge Loans = e o Commonwealth Investment Co., Inc. 506 15th St. N.W. Fhene Natienal 2639 Morsgage Loan Correspondont for The Prudential Insurance Ceo. of America o oqt AFE INSURgy > &&mfi:fii. MasaQt @ A Standard Low Premium Policy for Business and P;ofel ional Men Details on Request First Mortgage Notes FOR SALE - In Denominations of $250 and Upwards JAMES F. SHEA 643 Louisiana Ave. N.W. FINANCIAL, PUBLIC WORK LEADS IN BUILDING PLANS By the Associated Press. NEW YORK, April 11.—Public work, including municipal bulldings, sewer construction, irrigation projects, water- works, plers, harbors, etc., again took the lead in the value of big building operations that reached the proposed s throughout the country in the week, Construction Daily reports. ‘This branch of heavy construction activity for the Nation as a whole has, since January 1, maintained a sub- stantial margin over the value of all other classes of work and accounted for 30 per cent of the total in the last seven-day period. All classes of pro- posed work for the week aggregated $57,518,000, which compares with $136,- 448,000 in the previous week and $94,650,000 in the corresponding week last year. BUILDING ASSOCIATION 7th St. & La. Ave. N.W. Money loaned to members o easy monthly payments James Shea LTl X Equitable Co-operative Bldg. Ass'n . Organised 1879 JOHN JOY EDSON, President Assets. .. .$5,723,083.61 50th YEAR COMPLETED . WALTER S. PRATT, Jr., Secretary ~ Surplus & Profits......$1,755,91L87 Subscription for the 98th Issye of Stock Being Received —allly, 250 PER SHARE _’T|'|'|T'_ Long Term 809 15th St. N.W. Systematic Saving Accomplishes Most —1If you adopt a set plan for sav- ing and stick to it you will find = much will be accomplished in a financial way. Join the Equitable 915 F St. N.W. SPriNG SaLon SHowine (Amerim‘s Finest Motor C’ar) - Our special display of new Pierce-Arrow models will enable Jou to appreciate the added value in luxury and design offered in Pierce-Arrow. Prices $2895 up—delivered -» HARRY SOMMERS, IN PIERCE-4ARROW Salesroom—1727 Connectizut Avenue Open Evenings A R1MRiASASEARSARAARAIRIADALLE DISTRIBUTORS Metropolitan Life Insurance Company REAL ESTATE LOANS AVAILABLE Low Interest Rates Consult WEA\LE.RBBO REALTORS District 9436 Mortgage Loan Correspondent Metropolitan Life Insurance Company FIRST ‘'MORTGAGES INVESTING SAFELY AND WELL Over a Third of a Century Without o Loss B F. National 2100 THERE IS NO You are protecting your own interests and providing defi- nitely for your heirs when you include in your investments our 6%:% FIRST MORTGAGES With such investment you can definitely compute income, know their value to a 'certainty, sure that it will not depreciate to the day the principal is due. May be purchased in amounts from '$250 up. SAUL CO. 925 15th ‘St. N.W.