Evening Star Newspaper, April 21, 1930, Page 13

FINANCIAL. SHORTER BANKING HOURS SUGGESTED District Association Will Con- sider Plan for New Sum- i, mer Schedule. ¥ 7" BY EDWARD C. STONE. Bhorter banking hours for Washing- ton financial institutions during the Summer will be carefully considered at a meeting of the District Bankers' Association to be held late this after- noon at headquarters, in the Becker Building, President W. J. Waller pre- sidin, 8. Much interest is being manifested in the proposed change, Earlier clos- ing hours prevail in the larger cities alo; the Eastern seaboard in the Summer and the schedule has worked out very nicely. In Philadelphia, for example, the banks will begin again this year on April 28 and close at 2 o'clock, Eastern standard time, every day in the week but Saturday, when they will close at 11 o'clock. The question of earlier closing hours for Washington banks is not likely to be finally settled at today's meeting. If the majority of members present favor the idea, it is probable that a committee will be appointed to draw up resolutions stating just what it is proposed to do. These resolutions can then be laid before each bank board for definite action. The hours of some of the outlying banks differ from those of the downtown banks, and such dif- ference would naturally be mentioned in any resolutions on the subject. The plan has worked so well in other cities that many local bankers are very anxious to see it tried here. If uni- versally adopted, no one bank has any advantage over any other bank and no business will be lost by the banks as a group. The last time the matter was brought up here it met with the ap- proval of nearly all the banks. At today's meeting the standing com- mittee chairmen also will make re- ports, the last before the annual con- vention at Asheville. The meeting promises to .be an unusually interest- ing one. Banks Financing Brokers' Loans. Growth in brokers' loans during the past two or three months, which has Accompanied an advance in security prices, has been financed entirely by the banks, and particularly by the New York banks for their own account, states Federal Reserve Board in its re- view of credit conditions for the month. Beginning with the last week of Febraary, the volume of credit of mem- | er banks began to increase rapidly and at the end of March was about $560,- 000,000 larger than a month earlier, the Teview states. There is nothing in the board’s re- view that indicates any worry over the steady advance in loans. The last weekly report showed a gain of $131,000,000. March Automobile Output. March production (factory sales) of motor vehicles in the United States, as! reported to the Department of Com- merce was 401,378, of which 335,789 were passenger cars, 64,200 trucks and 1,389 taxicabs, as compared with 324,018 passenger cars, trucks and taxi- cabs in February, and 585,455 in March, 1929, Figures are based on reports from 144 manufacturers, 42 making passenger cars and 113 making trucks (11 mak- ing both passenger ears and trucks). The same Government department reports that March cigarette produc- tion was 9,165,690,053 cigarettes, against 8,690,347,524 in March, 1€29; cigars, 487,905,224, against 521,773,798; manu- factured tobacco, 27,820,487 pounds, against 28,187,787 pounds; manufac- tured snuff, 3,637,880 pounds, against 3,475,532 pounds. Fiduciaries’ Section to Meet. The fifth talk arranged by the in- surance trust committee of the duciaries section of the local bankers association will take place tomorrow afternoon at assoclation headquarters. ‘This week's speaker will be David Bonet, assistant trust officer of the Na- tional Savings & Trust Co. who will take “Taxation” for his subject. There will be two more discussions after that scheduled tomorrow. These will be on April 29, “Administration Procedure,” by T. Stanley Holland, as- sistant trust officer of the American Security & Trust Co., and, on May 6, “Trust Organization and Administra- tion,” by Irving Zirpel, assistant trust officer of the Union Trust Co. D. C. Exchange Active. Trading was quite active on the ‘Washington Stock Exchange today after the three-day holiday. The first stock trading was in Potomac Electric Power 6 _per cent Pre!med which registered 113. The 5, per cent issue sold at 108% and 108Y%. Commercial National Bank stock came out at 235, Columbia Sand & Gravel came out at 95);, and Emer- son's Bromo Seltzer sold at 312, clos- ing at 314, Mergenthaler opened at 107% and closed at 107%. Capital Traction opened with 10 shares selling 7815 and closed with a 10-share sale at _78%. In the bond division Washington Railway & Electric 4s sold at 87%, ‘Washington Gas 6s, series B, moved at 105, and Barber & Ross 6'2s came out at 90',. Potomac Electric Consolidated 55 moved at 102 and Washington Gas Bs at 103%. N. & W. Earnings for March. “Norfolk & Western Railway's gross revenues for March were approximately [ $8,200,000, compared with $8,665,466 in March a year ago; and we estimate net income after taxes and charges at §1,- 800,000, compared with $2,375,031 last year,” said Arthur C. Needles, presi- dent of the road. On basis of Mr. Needles' estimates, Norfolk & Western will report first. quarter net income of about $7,000,000, equivalent after preferred dividend r Tuemem.s to $4.80 a share on 1406~ 83 shares of common stock. For the first quarter, last year, Norfolk & West- ern reported net income of $7,874,120, equal to $5.45 a share on 1,402,883 com~ mon shares. Heard in Financial District. Tawrence Proctor, secretary of the ‘Washington Bond Club, expects a rec- ord attendance at tomorrow's monthly session. Mr. Burruss has presented the same address in a host of other citier, where he has proved to be an unusually interesting speaker. Charles E. Howe, treasurer of the American Security & Trust Co., has returned from a brief visit to his old home in Mifflintown, Pa. The National City Bank has opened another branch office in New York, bringing the total number of Gotham branches up to 41. DECLINE IN COMMODITY PRICES IS RESUMED Special Dispatch to The Star. NEW YORK, April 21.—As was to be expected, the sharp decline in the price of copper has brought with it another reaction in commodity prices after the advance of the last two weeks. The ity index figure today shows another abrupt slump, bringing it near the lowest of the year. It will be in- teresting to observe the movement in the commodity average from now on, as copper was supposed to be the last of the important commodities to be de- flated. If this theory is correct, the whole list ought to show a more stable "NEW YORK STOCK EXCHANGE THE - EVENING STAR, WASHINGTON, D. C, MONDAY, APRIL. 2l 1930. Received by Private Wire Direct to The Star Office. Note—For_compilation of today’s individual. sales see later edition. Yesterday's individual sales are given in this | Hish. Low. edition. 134 9 Sales of Each Stock Compiled to 12:30 PM. ~Prev. 1930~ Stock and Sales— . Low. H Dividend Rate. 45 Abraham Strau 23% Adams Exp (1.60). Adams Exp pf (5)..u 23 Adams Millis (2) 115 Ad 22 A4 15 Ahumada Lead 150% 118 Air Reduction (2). 36 21 Air Way T1Ap(2%)s 1% Ajax Rubber. . 7 Alaska Juneau. 8% Albany Wrap Pape 23 - Allegheny Corp. . 951% Alleg Corp pf (5%) .. 89% Alleg Cp pf xw (5%) 70 . Alleghany St1(12.80) 99% Alliance Realty t31% . 255% Allied Ch & Dye(n6). 49'% Allis-Chalmers (3).. 28'4. Alpha Port Cemt (3). 18 Amerada Corp (2). 6% Am Agricul Chem. 26 Am Agricul Ch pf 77 Am Bank Note (13).. 61 Am Bank Note pf (3)200s 7 Am Beet Sugar. | 36 Am Beet Sugar pf. 1 4% 46% Am Brake Shoe(2.40) 2 b0 118% Am Br Sh & Fpf (7). 208 123 8% Am Brown Bov Elec, 21 20% 604 Am Brown BE pf(7) 10s 78 156% 117% Am Can (7).. 100 154% 145% 140% Am Canpf (T)...e0 825 61% Am Car & Fdy (6). 116 110 Am Car & Fdy p(7). 69% 64 Am ChainCo (3). 75% Am Chain pf (7). 86% Am Chicle (123).... 19% Am Com Alco(n1.60) 35 Am European Secur.. 82% Am & Forn Power. .. 4 95 Am&Forn Pwr2d pf. 110% 107 Am & For Pwr pf(7). 9% Am Hawailan SS (2) % Am Hide & Lea pf. % Am Ice Co (t4). 35% Am Internatl (2). 4 2 Am La Fr & Foamite 105 76% Am Locomotive (8).. 11814 104 Am Locomot pf (7) 43% Am Metal (3) 1% Am Piano.. 3% Am Piano pf. 119% 77 AmPwr& Lt (31). 100 Am Pwr & Lt pf (6).. 75 AmP&LDLA (3%), 80 Am P&Lt pf Ast(5). 30% Am Ra&Std San 1% Am Safety Razor(5). 17% Am Seating (2)...., 83 Am Shipbuilding (8) 1% 'Ath Ship & Com. . 79% 69% Am Sm & Ref (4) 141 133% AmSm & Ref pf (7) 437% 41% Am Snuff (133%). 2215 15 Am Solv & Chem. 2| 33% 25% Am Sol&Chcv pf(3). 10 30% B2 4414 Am Steel Fdy (3).,.. 46% 116 110% Am Steel Fdy pf (7). 10s 113 55% 46l Am Stores (2)...... 2 53 69% 60% Am Sugar Ref (5)... 4 108% 104 'Am Sugar Ref pf (7) 2 108% 26% 15% Am Sumatra Tob. 274% 216 Am Tel & Teleg ( 2447 197 Am Pobacco (8) 4815 197 Am Tobacco B ( 124% 120 Am Tobacco pf (6). 124 88% Am Water Wks (n1), 106' 99% Am Wat W 1st pf(6). 20% T% Am Woolen. . 44% 19% Am Woolen pf. 4 8% AmZinc Ld & Sm. 68% Anaconda Cop (7) 40 Anaconda W&C (3) 35 Anchor Cap (2.40). 30% Andes Copper (3).. 2215 Archer-Dan-M (2). 81% 74% Armour of Del pf(7). 8% 5% Armour of Il (A) 4% 2% Armour of I)1 (B) 64 57'% Armour of Ill pf (7). 13% 6% Arnold Constable. 4614 361 Asso Appl Ind (4) 50% 28 AssoDryG (2%) 5014 3215 Asso Oil (2) 242% 219% Atch To & S Fe 106% 102% Atch To & SF pf (5). 80% 63 AtlGulf & W Indies. Add 00 High. Low. 22 Abitibi Pwr & Paper. ; gs‘c 39% 263% 53% 59 AtlGulf & W I pf(5). #64% Atl Refining (12). 31% Atlas Stores (1) 175% Auburn Auto (J4) 3% Austin Nichols. 435 Autosales. ... . 87 -Auto-Strop Saf R(3) condition throughout the remainder of the Spring. i Investments in Brazil from the United Gtates were recently estimated at $500,000,000. 9% - 4% Aviation Corp of Del 38 30% Baldwin Loco (1%). 122% 115 Balto & Ohio (7).... 841 63 Bang & Aroos (3%). 113 110 Bang & Aroos pf (7). 20% 16% Barker Bros (2) “34 20% Barnsdall, A (2) 20% 13 Beacon Oil... 8615 6714 Beatrice Cream (4)., 851 80 Belg N Ry pt pf 5.49., 57% 32% Bendix Aviation (2). 54 31% Best&Co (2)....... 110% 92 Bethlehem Steel (6). 134 122% Bethlehem Stlpt (7) 69 47% Bohn Al & Brass (3) 5 3% Booth Fisheries 83% 603 Borden Co (k3). 50 327 Borg Warner (4). 21% 13% Briggs MfgCo...... 4 1% British Empire Steel, 30% 13 Brockway Motor Trk 63 Bklyn-Manhat (4)... 847% Bklyn Man Tr pf (6), 10 Brooklyn & Queens., 178% 131 Bklyn Union Gas (5) 43 40 Brown Shoe (3).... 13% Bruns-Balk-Col 14% Bruns Ter &Ry 8 2214 Bucyrus (1)........ 33 Bucyruscvpf (2% 9% Budd (EG) Co. &5 Budd Wheel (1) 89% Buff R& P (4) 247% Bullard Co (1 . 26'% Bulova Watch (3) 2214 Burns Bros (B) 41% Burr Add Mch (1) 36 Bush Termnl (2%). 3 41% 100% Bush Term deb (7).. 20s 1073 3 Butte Copper & Zine. 2 3 3% Butte Superfor. 16% Butterick Co 8014 Byers (A M) 114 109 Byers (AM) pf (7). 7% 66% Calif Packing (4). 89% 70 Calumet& Ariz (6).. 33% 28% Calumet&Hec(a4%). 30 19 Campbell Wyant (2). 75% 63% Canada Dry G A (5). 226% 187% Canadian Pacific(10) 3 211% 34% 27 Cannon Mills (2.80), 2 30 100 96 Car Clin & O sta (5).100s 100 319% 192% Case (J 1) (6)...... 112 115 Case (J 1) pf (7)....2108 127% % 54 Caterpillr Trac t3%. 10 7 35% Celotex (3)... . 4 50% Celotex pt (7)..... 2 81 2315 Cent AguirreAs1%. 2 204 51~ Cent Rib Mills pf (7) 20s 62 57% Cerro de Pasco (6).. 10 57% 11 Certain-teed Prod... 74 10% 36 Checker Cab (4.20).. 241% 203 Ches & Ohfo (10). ... 8215 6315 Ches & Ohio Corp (3 10 4% Chi & Alton... .. 5% Chi & Alton pf . 36 Chi& Eastern Il pf. 12% Chi G t Western. . 4 ChiG 22'4 Chi Mil S 4 Chi Mil 3 7 26% 21 104% 10s 110% 1 74% 2 513 Chi Pae 1250 114 ChiRI 104% 100% ChiRT& ¥ 2615 Chi Yellow Cab (3). . 26 Chickasha Cot O (3). 5T Childs Co (240) 33Y% Chrysler Corp (3) 40% City Ice&F (k3.60)., 7% City Stores (50c. .. .. 33 Clark Equipment (3) 187% 133% Coca-Cola (6) . 63% 60 Colgate-Pal-P (234). 97 Colg-Palm-P pf (6) 14% Collins & Alkman 36% Col Fuel & Iron (2) 80% Col Gas & El (2).... 24% Columb Graph (87c) . 68% Columbian Carb (16) 23% Comm Credit (2). 31% Comm Credit A (3 86% Comm Inv Tr(g1.60) . 11 Comm Iny'Trust wa 27% Comm Solvents ($1) 12% Comwlth & Sou(§0c) 99 Cmwith & Sou pf (6) 44 Conde Nast Pub (2). 13% Congolenm-Nairn.:. 45 Congress Cgr (15%). 44 Consol Cigar (). 15% Consol Film (2) v+ ea. 18 Consol Film p£'{2).s; 58 32415 3 ey. 2:55. Close. 9! 101% 110% 39% 644 35% 92 ~Prev. 1930.— 109% 61 18 95% 11% 55% 18% 106% 44% 59% 54% 125% 41% 1067 106% 62% 26% 131 49 1 12 4% 34 5% 85 50% 28 59 5% 19% 27% 87% 24% 25 9 4 Curtiss Wright Corp. % Curt Wright Corp A, 4 Dupont deN db pf(6) % Eastman Kodak (18) Stock Con RR Cub pf (6). Consol Textile. ..... Container(A) (1.20).. Container(B)......a Contl Baking (A)..e Contl Baking (B). Contl Baking pf (8).. Contl Can (234)....u Contl Dia Fibre (3). Contl Insur (2.40) Contl Motors. Contl Oil of Del. Contl Shares (1) Corn Prod (13%)..ve Corn Prod pf (7)aes Coty, Ine (k2).. Cream of Wht(}2%). Crex Carpet. .. Crosley Radio (1)..4 Crown Cork & Seal. Crucible Steel (k5). . Cuba Cane Sugar..., Cuba Co......., Cuba R R pt (6) Cuban-Amer Sugar. . Cuban Dom Sugar. .. Cudahy Packing (4). Curtis Publish (16%) conDNLwanBaN Ed S VO O N CT R P03 0 I (3 et B 00 Ot N b ) @S Cutler-Hammer(3%) Davison Chemical... Debenham'’s (a2.32)., Deere & Co pf (7). ... Delaware & Hud (9). Del Lack & Wn (17), Denver & RG W pf.. Detroit Edison (8) Diamond Match (8) Dome Mines (1).. Dominion Strs (1.20) Drug Corporatn (4).. Dunhill Intl ($4). Duplan Sk (1). Duplan Silk pf « Du Pont de N (14.7 P 3 oy _ wsd Eaton Axle & S (3).. Eitington-Schild. ... Elec Auto Lite (6) Electric Boat. ElPwr& Lt (1)....0 El Pwr & Lt pf (1)... Elec Storage Bat (5). Emerson Brant (A).. Eng Pub Serv ($1) Eng Pub Sve pf (5). Eng Pub 8ve pf (53 Eng Pub 8 ctfs ($1)w Endicott-John (5). .. Equitable Bldg (3%) BrieRR.cecososoces Erfe RR1stpf (4).. 11 Erie RR2dpf (4)... 6 Fureka Carp Cl (4).. 25 Evans Auto Ldg 2%. 3 Exchange Buf (1%). 30s S Sakel ETT T, 4 Fairbanks Co pf, 4 Fairbanks Mors: 5% 12 99% 49% 26% 64% 104% 51 112% 60 11% 461 13% 104 39% 46 37% 117% 35 32% 864 v 97% 67 39% 81% 11% Fed Lt & Tri Fed Lt & Trac pf (6). 10s Fed Wat S, A (e2.40), 6 Federated Dept Strs. 2 Fid Pho Fire 1(2.60). 2 Fifth Ave Bus (64c). 50s Firestone T&R(1.60) 4 Firestone T&R pf(6) 2 First Nat Strs (2%). 4 Fisk Rubber. . 13 Fisk Rub 1st pf Flosheim Shoe A (3). Follansbee Bros (3).. Foster Wheeler (2). Foundation Co Fourth Natl In Fox Film (§4).. Frank Simon pf (7). Freeport, Tex (15) 38 Fuller 2d pf(17.40).. 50s Gabriel Snub (A). 1 Gardner Motor. . Gen Am Investors... 2 Gen Am Tnk Car(14) 82 Gen Asphalt (4).. 6 Gen Bronze (2). 11 Gen Cable (A) (4 2 Gen Cable pf (7) 20 Gen Cigar (4). Gen Cigar pf (7).... 10 Gen Electric (1.60)., 477 Gen Elec spec (60c),. 2 Gen Food Corp (3)... 265 Gen Gas&E (A) new. Gen G&El cv pf(6)., Gen Ital Ed (a2.61).. Gen Mills (3) Gen Motors (13.30)., Gen Motors pf (7).., Gen Out Adv(A) (4). Gen PublicSve (b6).. Gen Ry Signal (5) Gen Realty & Ut{] Gen Real & Ut pf Gen Refrac (14%), .. Gen Theat Equip vte. Gillette Saf Raz(n5). Gimbel Bfothers. ..., Glidden Co (h2). Glidden pr pf (7) Gobel (Adolf). Gold Dust (234)..... Goodrich (BF) (4). Goodrich (BF) pf (7 Goodyear Tire (5)... Goodyear 1st pf (7).. Gotham Silk H (2%). Gould Coupler. Graham-Paige Granby Copper (8). . Grand Silver Strs(1). Grand Unlon . Granite City Stl (4).. Grant (WT) (1) % GtNctfs O P (a3%). Grt West Sug (2.80) 10 Grt West Sug pf (7). 90s 4 Grigsby Grunow, 230 104% 15 26% 127% 20% Gulf Mobile & No 5 GuIf Mo& N pf (6).. 1 Hahm Dept Stores... 24 Hanna pf (new) (7). 2608 Harbison Walk(2;) 3370s Hartman (B) (1.20), 10 Hayes Body. Hercules Mot (1.80). Hershey Choc (5). ... Hershey Choc pf(15) Hershey Ch pr pf(6). Hoe (R) & Co....... Holland Fur (et2%). Hollander Sons. .. ... Houdaille Her B(2). H'hold Fin pf (13%) Houston Oil. Howe Sound (14%).. Hud&Man Ry (3.50). Hudson Motor (5)... Hupp Motor Car (2). Tllinols Central (7).. Independ Ol & G(2). Ind Motor Cycle..... Indian Refining. Indian Refining rcts. Indus Ray (b5% stk) Ingersoll Rand (4) Inspiration Cop (4 Insurance Sh (45¢). . Interboro Rap Tran.. 4 Intercontl Rubbe Interlake Iron (1). 4 Intl Agricultural Intl Agricul pf (7) Intl Carriers. Intl Cement (4). Intl Combustion. , Intl Comb Eng pt.... 4 Intl Harvester (2%). Intl Harvester pf(7). Intl Hydro El A (e2) Intl Match pf (4).... Intl Mer Marine (1) Intl Nickl of Can(1). Intl Pap & P (A)2.40. Intl Pap & Pwr (B). Intl Pap & Pwr (C).. Intl Printing Ink (3) Intl Print Ink pt (6). Intl Salt (6). 4 Intl Shoe (3) .. Intl Silver (+8) Intl Tel & Teleg (2). Inter Dept Strs (2).. Intertype Corp (2).. I ors Equity (2). Island Creek Coal(4) Jewel Tea (4)....... Johns-Manville (3).. Johns-Manv pf (7).. 90 Jones & Laugh pf( Jordan Motor Car. Kan City Sou (5).... 8 stadt (R) (1.02), 2 Kayser Jullus (4)... 28 Kelly-Spring Tire... 4 Kelly-Spring 8% pf. 30s Kelsey Hayes (2). 6 Kelvinator Corp..... 98 Kennecott Cop (5). .. 277 Kimberly-Clark(13). & (Continued on Page and Sales— Dividend Rate. Add 00 Hish. Low. 6% Consol Gas N Y (4).. 380 99% Consol Gas NY pf(5) 133% 97% 2% 17% 14% 31 104% 51% 56%, 140, STOCKS IRREGULAR IN MIXED MARKET Trading Slows Down as Re- actionary Tendencies Ap- pear in Afternoon. BY STANLEY W, PRENOSIL, Associated Press Financial Editor. NEW YORK, April 21.—Resumption of business after the three-day Stock Exchange holiday today disclosed a two-sided market, in which. reactionary tendencles predominated. Trading started off at a brisk pace, total sales crossing the 2,000,000 share mark be- fore noon, but slewed down in the early afternoon as the ticker caught up with the market and operators for the ad- vance found it rather difficult to at- tract an outside following, except in a few special groups. Business news was of a mixed char- acter. TFailure of the recent drastic cut in the price of copper to stimulate a heavy domestic demand led to fears of a further reduction, with the result that most of the leading copper stocks dropped 1 to 7 points to new low levels for the year. The E. I. du Pont de Nemours and Hudson Motor Co.s pub- lished earnings statements, which made unfavorable comparisions with the first quarter of last year. California re- ported a substantial increase in crude ol production last week. In the copper group Granby dropped 7 points, and Anaconda, Kennecott, Nevada, Miami, Magma and Calumet & Hecla fell 2'3 to 4 points, all’ at new lows for the year. Foundry, American Locomotive and Hudson Motors also touched new lows. Checker Cab was hammered down 7 S Equitable Co-operative Organized 1879 JOHN JOY EDSON, President Assets 5,723,083.61 points, American Telephone and Unaer-! wood Elliott Fisher 5!2 each, and Hous- ton Oil, American Tobacco A and B, Engineers’ Public Service, Detroit Edi- son, Southern Railway, Air Reduction and Columbian Carbon sagged 3 points or more, Fox Theaters ran up more than 7 points to & new high at 55% on the an- nouncement of the new flnmcm, in connection with the recent acquisition of control by the General aters Equipment Co. The stock sold as low as 1615 this year. New highs for the year also were established by Loews’ Vanadium Steel, Norfolk & Western, Continental Fiber, Diamond Match, Ingersoll Rand Cor- ration, Electric Power & Light, Abra- am & Straus, F. G. Shattuck, Kraft Cheese, Corn Products, National Dairy Products, American Machince & Foun- dry and Montsano Chemical, the gains ranging from fractions to 7'% points. New Bond Issue. NEW YORK, April 21 ().—A $2,000,- 000 issue of Lane, Bryant, Inc., 10-year 6 per cent sinking fund gold debentures, with common stock purchase warrants, will soon be offered for, public subscrip- tion by a syndicate headed by Me: Lynch & Co. NEW YORK BANK STOCKS NEW YORK, April 21 (#)— Banks, America ... Bk of U 8 units First National N ¥! Harriman National Manhattan Co ... Trust Companies. Bankers' American Car & | 0! Bldg. Ass'n 50th YEAR COMPLETED WALTER S. PRATT, Jr., Secretary Surplus & Profits......$1,755,911.57 Subscription for the 98th Issue of Stock Being Received Systematic Saving Accomplishes Most —If you adopt a set plan'for sav- ing and stick to it you will find much will be accomplished in a financial way. 915 Join the Equitable F St. N.W. National Metropolitan Bank 1814—Oldest National Bank in the District of Columbia—1930 15th St., Opposite U. S. Treasury Questions About Wills' —and other fidu- ciary matters can be brought to our Trust Officer’s at- tention, without obligation. 1 Complete f a cili- ties for- acting in all fiduciary capaci- ties. 3% on Savings SAFE—-SECURE 7% First Mortgage Notes in convenient denominations $100 and up Secured on conservatively appraised residen. tial properties (homes) Washington. The notes are not subject to fluctuation and risk of loss is eliminated. PHONE OR WRITE US—We will be glad to show the properties om which McKeever and Goss Realtors 1415 K St. N.W. Members Mortgage Bankers Association of Americu in northwest section of these motes are secured. National 4750 SATE FIRST A GOOD HABIT our $250 up—paying for time to time. B. F. SA National 2100 THERE Experience shows that once you buy FIRST MORTGAGES you will adopt them as one of the main avenues for investment. You can estimate exactly what your return will be—and it will be the same to the end of the life of the mortgage. You can buy them in amounts from —and keep adding to your holdings from IS NO SUBSTITUTE FOR SAFETY MORTGAGES TO CONTRACT them out of income UL CO. 925 15th St. N.W. FINANCIAL, w4a A3 Consult Us Regarding Your Maturing Mortgage. LONG-TERM REAL ESTATE LOANS WE MAKE FIRST MORTGAGES ON Homes, Apartments and Busin Properties in the District of Columbia and Nearby Maryland and Virgini RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Decatur 3600 Mortgage Loan Correspondent New York Life Insurance Company Announcing the Promotion of MR. CYRIL J. JONES Manager of Our Washington Sales Force Succeeding MR. ALBERT D. O'CONNOR W}IO Hll Been promotea to Manager of Our Baltimore Office Henry L. Doherty & .Company Southern B\lilain‘ Washington, D, C. Home Office: 60 Wall Street, New York We invite applications for First Mortgage Loans on residences and busi- ness properties in the District of Columbia and nearby Maryland suburbs. . . Lower costs, Long Term (lf desired), Valuable Prepayment Priv lfg‘-’ e Thtee- year lfllnl on newer 1% properties without amortization H. L. Rust Company 1001 Fifteenth Street National 8100 ESTABLISHED 1889 Loan Correspondent for “The Prudential® Associated Gas and Electric Company Common Stock Purchase Rights Associated Gas and Electric Company an- nounces the extension to January 1, 1936, of the existing “Rights” to purchese Common Stock of the Company at $30 per share, issued in two series and expiring respectively on September 1, 1930 and January 1, 1931, For the “Rights” expiring September 1, 1930, the price at which the Common Stock may be purchased from September 2, 1930 to January 1, 1931, will be $32 per share. After January 1, 1931, the price (which will be applicable to both series of “Rights”) at which the Common Stock may be purcgued with “Rights” will be $35 per - share for the first three months and will increase $3 per share each three months thereafter to date of their expiration or exercise on or before Janu- ary 1, 1936. New certificates will be prepared incorporating the additional privileges above stated, and pend- ing deliv«! thereof the holders of either series of “Rights” may have an appropriate legend endorsed on their certificates on presentation thereof accompanied by a written application stating the name of the owner. Presentation of certificates for exchange or endorsement should be made at Room 2016, No. 61 Broadway, New York City. All the terms and conditions of the old certificates, except as above stated, will apply to the new certificates. % M. C. O’Keeffe, Secretary.