Evening Star Newspaper, May 9, 1930, Page 13

FINANCIAL PERLEY IS FLECTED | HEAD OF INSTITUTE Other Officials of Washington| " Chapter Chosen at An- nual Balloting. BY EDWARD C. STONE. Frank M. Perley of the Amgrican Se- curity & Trust Co. was elected presi- dent of Washington Chapter, American Institute of Banking, at the: annual | election held late | yesterday, succeed- ing A. E. Henze, this yeal's presi- dent. " Mr. Perley has been a mem- ber of the institute for several years and one of the most active work- ers. Aubrey O. Doo- ley of the Federal American National Bank was elected first vice president; Richard A. Norris, Lincoln National, second vice presi- dent; Miss Rose L. Royce, Washington | Loan & Trust Co., secretary: Robert A. Sisson, Washington Savings Bank, treasurer; Miss Anne Crawford, Mc- Lachlen Bank, assistant secretary: W. L. Sanderson, Federal-American Na- tional, chief counsel. Elected to the board of governors were | Robert H. Lacy, T. Hunton Leith, Rob- ert- H. Whitton, Winifred Burwell and William Mehler. Mr. Henze, the retir- ing president, becomes a member of the | board, other members still in office be- ing John M. De Marco, Henry F. Kim- ball, I J. Roberts, James A. Soper and Willlam G. Winstead. Members whose terms expire include Harold W. Burn- side, Stuart S. Oglevie, Mabel V. Royce and Joseph D. Yerkes. With one exception the largest vote ever cast at an institute election was | recorded—307. The livellest contest was for second vice president, this being de~ cided by 17 votes. Bankers Back From O Point. The Washington bariKers—Prancis G. Addison, jr.; Howard Moran, Robert V. Fleming and E. E. Mountjoy, local rep- resentatives of the American Bank- ers’ Assoctiation—have returned from the Spring council meeting at Old Point | Comfort, Va. Mr. Fleming returned before the sessions ended in order to attend the ' bank-taxation he&rings at the Capitol. He is a member of the special A. B. A. commitfee interested in this vital matter. The local bankers are most enthu- siastic over the meeting. Many very| important reports were presented and fully discussed, several having |Xrecdy been mentioned in The Star. Fred I. Kent's report on the economic situation proved one of the highlights of the three-day sessions, President Lonsdale read a telegram from President Hoover, in which the Chief Executive conveyed his best wishes and the hope for a successful meeting of the council. The attendance was the largest ever re- corded at a council meeting. Mr. Addison, who represented the District Bankers' 'Association, said to- day that the discussion on moving the headquarters of the American Bankers' Association from New York to Wash- ington last for three hours and was a very lively debate. The change was urged because Washington is the Na- tion's Capital and banking is national in scope. It was also claimed that headquarters could be obtained here at much less expense than in New York and that the officials could live here much more cheaply. The change, how- Frank M. Perley. 5 Pl & % FRIDAY, MAY 9, 1930 FINANCIAL. THE EVENING STAR. WASHINGTON, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. excepting those designated by which shows those stocks to ~ Prev. 1930.~ g, Stock and Low. Dividend Rate. 22 Abitibl Pwr & Paper. 6474 Abitibi P & P pf (6). 2315 Adams Exp (1.60)... Adams Millis (2).... Advance Rumley nt. 4 Ahumada Lead 118 Alr Reduction (3 21 Alr Way TI Ap(23%). 13 Ajax Rubber. 116 Alabama&V 81 Albany Wrap Paper. 23 Allegheny Corp..... Alleg C pf $30w(5%) 255% Allied Ch & Dye(n6). 491, Allis-Chalmers (3).. 2815 Alpha Port Cemt (3). 18 Amerada Corp (2)... 5% Am Agricul Chem. 34 Am Bosch Magneto.. 46 Am Brake Shoe(2.40) 118% Am Br Sh & Fpf (7). &% Am Brown Bov Elec. the letter l 3 2 6012 Am Brewn B E pf(7) 1758 ¢ 117% Am Can (4) . 228 52 Am Car & F % 6)... 100% Am Car & Fdy pf(7) 447 815 17% 8114 874 294, 8 4% 5014 242 808 51% 36 106 263% 54 Am Chain Co (3) 36% Am Chicle (1234). w. Am Com Alco(n1.6 Am European Secur. Am & Forn Power. Am & For Pwr pf(7). 5 - Am&Forn Pwr 2d pf. 41 Ath Hide & Leather. . 25% Am Hide & Lea pf. .. 55% Am Home Prod(4.20) 35, Am Ice Co (14). . 35% Am Internat] (2).... % Am La Fr & Foamite 65% Am Locomotive (8).. 210 Am Mach & Fdy (7). 39% Am Metal (3)... Am Pwr & Lt pf (6). AmP&LDFA (3%). Am P&Lt pf A st(5). 4 Am Ra&Std San 1%.. Am Republics. .. i Am Rolling Ml (2). Am Seating (2) Am Ship & Com Am Sm & Ref (4) Am Snuff (13%). 4« Am Steel Fdy (3) Am Sugar Ref (5). Am Sugar Ref pf (7) 4 Am Sumatra Tob. . Am Tobaceo B (i) Am Tobacco pt (6). . Am Water Wks (n1). Am Wat W 15t pf(6) 2 Am Woolen. . Am Woolen pf... Am Writ Paper ctfs. AmZinc Ld & Sm.... 4 Anaconda Cop (7). 5 Anchor Cap (2.40). Anchor Cap pf (6%). Andes Copper (3)... Archer-Dan-M (2)... i Armaur of Ill (A).... Armour of 111 (B).. .. . Asso Dry G (2%) Atch To & S Fe (1 Atl Gulf & W Indi; Atl Refining (12) Atlas Stores (1), Atlas Powder pf ( Auburn Auto (§4) Austin Nicnol. Austrian Cred (4.49). Autosale: Auto-Strop Saf R(3) % Aviation Corp of Del Baldwin Loco (1%). Balto & Ohlo (7). Bang & Arooe (3 Barker Bros (2). ¢ Barnsdall, A (2). Bendix Aviation (2). 4 Best&Co (2)....... Bethlehem Steel (6). & - P 03 CETIER EECEFN E PR =t SEITPICN 29 be nld In odd lof Auuw High M' Glose. Gioke 32% 32 82 30 82 (Gul (285) | 82 100 104 83 B6% Notice—All stocks are sold in one hundred-share lots ] —Pr" 1930.—~ 124 181 153 80 423 237 Stock and Dividend Rate. Deere & Co pf (7)... ¢ Delaware & Hud (3). Del Lack & Wn (17). Denver & RG W pt.. Devoe&R (A) (2.40). Diamond Match (8) Dome Mines (1).. Dom Stores ($1.20) .. Drug Corporatn (4). 5 Duluth S S & Atl Duluth Superior Dunhill Intl (34).... Du Pont de N (14.70) Dupont deN db pf(6) Dugques Lt 1st pf (5) Eastman Kodak (18) Katon Axle & S (3).. sitington-Schild Eitington pf (6%) Elec Auto Lite (6) { El Auto-Lite pf (7). Electric Boat. . Bl Pwr & Lt (1)..... Elk Horn Coal . Elk Horn Coal pf Eng Pub Sve of (5) .. ng Pub Sve pf(6%) Erie R R Erie R R 18t pf (4).. Low. Evans Auto Ldg 2%. Fairbanks Morse (3) Fash Pk As=o pf (7). Fed Motor Tr (80c). Fed Wat S. A (€2.40) Firestone T&R(1.60) Firestone T&R pf(6) First Nat Strs (2%). Fisk Rubber. . Fisk Rubber 1st pf Fisk Rub 1st pf cv. . Flosheim Shoe A (3) Follansbee Bros (3). Foster Wheeler (2). Foundation Co. . Fourth Natl In Fox Film (A) (4). Freeport, Tex (16) Gardner Motor. Gen Am Inv pt (6) Gen Am Tnk Car(34)’ Gen Asphalt (4). Gen Bronze (2) Gen Cable Gen Cable (A) (4). % Gen Cigar (4). Gen Electric (1.60) .. Gen Elec spec (60c). Gen Food Corp (3). . Gen Gas&E (A) new Gen G&EIl cv pf(6) Gen Mills (3). Gen Mills pf (6) . Gen Motors (+3.30).. Gen Motors pt (7)... Gent Out Adv (2). Gen PublicSve (b6). Gen Ry Signal (5)... Gen Realty & Util... Gen Refrac (t4%). .. Gen Stee) Cast pf (8) Gen Theat Equip vte. Glllette Saf Raz(n5) Gimbel Bfothers. .. Glidden Co (h2). 4 Glidden pr pf (7). Gobel (Adolf). % Gold Dust (2%4)..... Goodrich (BF) (4).. Goodyear Tire (5)... Gotham Silk H (2%) & Graham-Paige Graham-Paige rcts. . Granby Copper (8).. Grand Silver Strs(1) Grand Unlon Granite City St1'(4) « Grant (W T) (1) Grt North pf (5) Gt Nctfs O P (a3 Grt West Sug (2.80) Grigsby Grunow.... Gulf States Steel (4) Hackensack W (1%) 1800s Hackensk W pf(1%) Hahn Dept Stores, .. Hanna pf (new) (7). 4 Hanna (M A) 1st(7). Har Wkr Ref (12%). Hartman (A) (2)., .. Hartman (B) (1.20). 6008 127 16 171% 8 126 8 1 101% 1 100% 24 48 3 . 1008 1008 1 Ar» 10 637 1 607 23 20s 4 30s 10s 6 31 16% 4n 10015 1015 101 100% STOCKS IRREGULAR IN QUIET MARKET Strength Shown in Various Groups—Call Rate at 3 Per Cent. BY CLAUDE A. JAGGER. Associated Press Financial Editor. YORK, May 9.—The stock mar: "1«-( s response to the lopping of $200,-| s, | 000,000 of the brokerage loan total was somewhat disappointing to_irreconsil- | ably bullish quarters today, but the list | showed quiet strength here and there, | particularly in the food and farm im-| plement shares, although price move- ments were on the whole vague and ir- regular. Trading was quietest in sev- eral wecks, and brokerage circles are now inclined to look for a period of speculative calm with prices drifting on the currents of business trends. The reduction in loans was in keeping with the more optimis reduced by about 20 per cent the gain in loans against security collateral from December 24 to April 30, and indicated clearly a farily thorough shaking out of overextended speculative positions du ing the recent reaction. Call mons continued to_ command 3 per cent, and offerings at lower levels in the outside market were fewer. Lenders evidently are not over anxious to place funds at, such low rates, if any other employment can be found. Business _and corporate news Wwas | varied Survey of conditions in the steel industry, as presented by leading executives at the semi-annual meeting of the American Iron and Steel Institute, were reassuring. Business conditions were generally described as on the mend. Wall street estimates indicating that United States Steel's monthly unfilled tonnage figures, to he published tomorrow, would show a sub- stantial decline, were an adverse psy- chological factor in the market for a time, although such a showing would be_seasonable. Senator Couzen's statement in Wash- ington that the Department of Justice would test the legality of Radio Cor- poration’s acquisition of the radio busi- nesses of Westinghouse and General Electric caused some bear selling. Re- ports from the radio industry were gen- erally more favorable, however, the management of Grigsby Grunow in an- nouncing price advances, expressing the belief that price cutting is at an end. |FOUR COUNTY BANKS IN GOOD CONDITION A consolidated statement of condition of the four banks of Arlington County, Va, at close of business March 27, last call date, prepared by A. B. Honts, cashier of the People’s State Bank of | Cherrydale, Va., shows good business in this suburban community and is as follows: RESOURCES. .H,lDfl.%H 58 139330360 } Lo | Total resources ... LIABILITIES, Capital stock e - 1,312,124.23 Due to banks nnmmum ap. 14,666.69 B8 Dayabe Reserve for interes| Bonds guaranteed Titles guarantee A GtnEr fieme o liabiis First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. 500 15th 8t. N.W. Phone National 2623 Mortgage Loan Correspondent for The Prudential Insurance Co. of America Offices Saul Building 925 15th St. N.W. Several desirable rooms at very reasonable rents. Inspec- tion invited. B. F. Nat. 2100 SAUL CoO. 925 15th St. N.W., 1851, 1930 QRE UL L INSURy; @ thtsfield, Mass., ffa A Standard Low Premium Policy for Business and Professional Men Details on Request F. T. Koons, General Agent Union Trust Bldg. Frank. 6177 First Mortgage Notes FOR SALE In Denominations of $250 and Upwards JAMES F. SHEA 643 Louisiana Ave. N.W. TIRES 3436 14th N.W. Adams 8100 Road Sérvice—Charge Accounts Invited The Profit-Sharing Bonds fssued by Credit Service, Inc., & Industrial Banking institu- % bond interest plus They have vaid 19 Wit 'GRFATEST BECORITY ANNUITIES Cash_ Refund—Joint—Deferred Send for Information LEROY GOFF INSURANCE—ALL BRANCHES 1036 Woodward B Kynaston & Company Investment Blds. Met. 5334 Name . Address Real Estate Loans Made Linkins Co. ™ smzvr stncl THERMOID CO. Convertible e o oyt mxhuneer Sisids over 8% Recommended. Courtland Nixon, 1518 K St. N.W. Nat. 1026 Midland United Company $3.00 CONV. PREF. SER. A With Warrants Through its subsidiaries supplies 697 communities with gas and electricity and operates an interurs ban clectric railway serv- i 3,936,000 people. .vmm‘s about 2.3 times dividend requirements. Valuable warrant and conversion feature. Price—$48.50 Flat Circular on Request i Utility Securities Corp. ‘ 802 Edmunds Bldg., Phone:’ Franklin 5541-2. We appreciate the value of promptness in the matter of real estate loans and have made this a very special feature of our service. Our wide experi- ence and splendid equipment permits us to accomplish speed without sacrificing efficiency in the least degree. Real Estate Investments JAMES Y. PENNEBAKER Nat.5291 1520K St.N.W. ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 64th Issue of Stock Now Open for Subscription Money loaned to members on easy monthly payments James E. Connelly James F. Shes Presidens Secretary Fs Mortgage : Money 6‘7 s [ 0 BUILDING ‘ LOANS . e IMPROVED PROPERTY | | Reasonable Rates Prompt Action B. F. SAUL CO. 925 15¢th St. Nat'l 2100 3,50r10 Year Loans On Improved Real Estate IN Nearby Montgomery County and the District of Columbia Lowest Interest Rates & Charges ROSSERPHELPS Fo 1907 Jonn “Hincock: Tual Life Insurance Co. 1417 K St. National 9300 ever, was not pressed in order to get the headquarters nearer to Congress. The pnscm headquartérs ate so | cramped that the association must | move gnyway. After all the arguments were presented, it became clear that the majority was in favor of leaving the head offices in New York and the resolution was consequently withdrawn. Yesterday afternoon about 150 bank- ers visited Langley Field on invitation and were watching the flying when the air tragedy occurred which resulted in two deaths. Exchange Convention Nears. Eugene E. Thompson of Crane, Parris & Co., president of the Associated Stock Exchanges, of which the Washington Stock Exchange is a member, is hard at work on the program for the annual convention of the organization to be held in Minneapolis May 19 and 20. One of the principal topics of discus- sion will be the new developments: in stock exchange methods. Plans for standardization in both trading and ac- counting and a Nation-wide clearing house system will be considered. Among the exchanges represented will be Baltimore, Buffalo, Cincinnati, Columbus, Detroit, Hartford, Conn.; Los Angeles, Minneapolis, New Orleans, Philadelphia, Pittsburgh, St. Louis and Washington, Heavy Turnover in Traction. Another heavy turnover in Capital Traction stock took place on the Wash- ington Stock Exchange today. There were 15 different sales involving 205 shares, every sale being made at 75. ‘The largest sales were two 30-share blocks and the smallest cover but four shares. Capital Traction overshadowed the rest of the market. Potomac Electric Power 5}, per cent preferred sold at 108's and 108%. The corporation's 6 per cent preferred came out at 11175, Columbia Sand & Gravel moved at 95. One share of Mergenthaler moved at 108 and 40 more sold at 107%. Five shares of Lanston sold at 12215. Washington Title Insurance sold at 8 in the unlisted department. The day’s only bond sale was $1,000 Potomac Electric Power Cons. 5s at 102. Effort to Check Huge Losses. A concerted national movement, the first of its kind, to check stock swin- dling will be started at the National Conference on Prevention of Fraudulent Transactions in Securities, to be held at the Chamber of Commerce of the United States on May 22-23. The gravity of the problem is re- flected not only in the estimates of losses sustained by American investors in fraudulent stock operations, ranging from $500,000,000 to $1,500,000,000 an- nuallv but in the fact that the amount, in spite of preventive efforts now car- ried on, is increasing. The purpose of the forthcoming con- ference is primarily to co-ordinate efforts to check securities swindles, to devise new measures for suppressing the evil and to extend public knowledge of sound investment. Among the sujects to be taken up at general session of the conference are: “Protection of Investors,” Need for Co- operation,” “The Crook at Work” and “Investment Education.” Heard in Financial District. The National Dairy Products Co., of ‘which Chestnut Parms Dairy is a unit, estimates earnings thus far this year to be in excess of the 1929 period, de- spite lower dollar sales. William Knowles Cooper, partner in Crane, Parris & Co, sails for Europe on_June 14 for a visit of some weeks. In its business review Y. E. Booker & Co. says: "It is not thought that economic recovery will be delayed to any great extent by the secondary re- adjustment in stock prices, since pub- lic participation was less heavy than last Fall, and, consequently, reduction in buying power should be much smaller.” New York Pederal Reserve Bank has cut its buying rate for bills % of 1 per cent to 214 per cent up to 60 days, and % of 1 per cent to 2% per cent from 60 to 90 days maturities, Hav El Rwy pf (6) ayes Body. Hercules Pow p . shey Choc (5).... Hershey Choc pf(15) Hoe (R) &Co....... 4 Holland Fur (et2%). Hollander Sons....., Houdallle Her B(3) .. 9 H'hold Fin pf (133%). 4 Houston Oil (b10%). 172 Howe Sound (14%).. 5 Hud&Man Ry (3.50). 116 Hudson Motor (6)... 29 Hupp Motor Car (2).. 42 Illinots Central (7).. 22 Independ Oil & G(2). Bethlenem Sti pf (1) BIAWAKNOX (13 ) s wnr Blocmingdale Bros. . Bohn Al & Brass (3). 4 Borden Co (k3)..... 7% Borg Warner (4).. Briggs Mg Co. Briggs & Strat (2). Brockway Motor Trk Bklyn-Manhat (4)... Bklyn Man Tr pf (6). Bklyn&Queens pf(4) Bklyn Union Gas (5) Bruns-Balk-Col, Bruns Ter & Ry 4 Bucyrus (1)..... % Bucyruscv pf (2%). % Budd (EG) (1) Budd Wheel (1) Bullard Co (1.60) 4 Bulova Watch (3 Burns Bros (A) (8) Burns Bros (B).. 2 Burns Bros pf (7)... 20s Burr Add Mch (1)... 18 Butte Cop & Z (60c). 11 Byers (AM)... 10 Calif Packing (0) 4 Calumet & Ariz % Calum mu-eunu. Campbell Wyant (2). Canada Dry G A (6). Canadian Pacific(10) Cannon Mills (2.80).. Case (J 1) (6)...... Catrpillar Tra(t3%). Cavanagh-D pf(6%). 20s 79 Total labilities NEW YORK BANK STOCKS NEW YORK. May 9 .(Special).— ‘ | Bank stock trading today started quiet, with prices showing a sagging tendency. Later there was a slight increase in trading and the losses were largely canceled. Quotations were: Chase National, 15815, off 4; National City, 196; off 1; Equitable, 1371, unchanged; Guarant, 747, off 2;. America, 131, unchange Bankers, 165, off l5; Bank of United | ¢ | States, 65%, off 14: Brooklyn Trust, 840, unchanged;. Central Hanover, 395, up 8; Chatham, 135!, unchanged; Chemical, 75, off 14; Commercial, 510, unchanged; Continental, 36's, up '2; Corn Ex- change, 208, off 1; Empire, 92'5, up } First National, 6,000, unchanged; In- terstate, 51, unchanged; Irving Trust, 6114, off ; Manhattan, 132, off ! Manufacturers, 13215, off 13 New York Earned Safely By GUARANTEED FIRST MORTGAGES Thoroughly reliable and de- pendable for your surplus or savings. Our selected First Mortgages are secured on improved real estate and backed by our re- sources of $3,800,000. 92% 301 483, Metropolitan Life Insurance Company REAL ESTATE LOANS AVAILABLE Low Interest Rates Indian Refining rets. Indus Ray (b5% stk) Ingersoli-Rand (15). Inland Steel (4)..... Inspiration Cop (4).. Interboro Rap Tran.. Intercontl Rubber. InterlakeIron (1)... Intl Agricultural ¢ Intl Agricul pf (7) Intl Bus Mach (n6. Intl Carrier; Intl Cement In denominations as low as $250 Stop in, or Send for Booklet “The Success Plan” May Be Purchased on Monthly Payments Long Term Money to Lonn 7,088 deed at trust on real entate. iling interest and commission. %0 Wash. L Jol’ephl Weller 4 REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD Applications _invited on apartments and dwalling: larly on well located business for 3. 5 or 10 it'o desire 1520 K St N/W. ' National 0475 34 Consult WEAVER BROQ REALTORS 809 15th St. N.W. Real Estate Loans REALESTATE' MORTGAGE & GUARANTY' CoRPORATION 24 JACKSON PLACE Capital Resources over $3.800,000 53 3 Intl Harvester (2 4 Intl Hydro El A (e2) Intl Match pf (4).... Intl Mer Marine (1) 4 Intl Nickl of Can(1). 393 Intl Pap & P (A)2.40. 6 Intl Pap & Pwr (B).. 1 Intl Pap & Pwr (C).. 19 Intl Pap&Pwr pf (7). 4 Intl Printing Ink (3) Intl Print Ink pf (6). Intl Salt (6).. Intl Tel & Teleg (2). Inter Dept St ). Inter Dpt § pf xw(1). 105 Investors Equity(2). 3 Island Creek Coal(4) 5 Johns-Manville (3).. 35 Jones & Laugh pf(7) 805 Jordan Motor Car... Kan City Sou (5). Kan City Sou pf (4 Karstadt (R) (1.02) lux 11 Districe 9486 Certain-teed Prod. Checker Cab (4.20) Ches & Ohio (10) Ches & Ohio Corp £08 Mortgage Loan Correspondent Metropolitan Life Insurance Company 11% Chi Great W 34 ChiGreat Westn pf.. 18 Chi Mil StP & Pac. 31% Cni Mil StP & Pac pf. 79% Chicago & N W (5).. 1734 Chi Pneu Tool. 50% Chi Pneu T pf (3%).. 100% Chi R L& Pac pf (6). 53 Childs Co (2.40). 301 Chrysler Corp (3). 40% City lce&F (k3.60) 7% City Stores (60c. 37% City Stores A (3%).. 30 Cluett-Peabody (5).. 133% Coca-Cola (6)... 59 Colgate-Pal-P (134). 97 Colg-Palm-P pf (6).. 14% Collins & Alkman. . .. 73 Collins & Alk pf (7 36% Col Fuel & Lron ()., 69 Col Gas & El (2). 104% Col Gas & I pf A(6) 23% Colum Graph((a87c) 128l Columbian Carb (16) 23% Comm Credit (2).... 81% Comm Credit A (3) 22% Comm Cred pf (1 76% Com Credit 1st (6%) Comm Inv Tr(g1.60) 5215 Com inv T cv pt(es) 11 Comm Inv Trust war 25% Comm Solvents (31). 12% Comwlth & Sou(60c) 99 Cmwith & Sou pf (6) 13% Congoleum-Nairn. .. 67 Consol Cgrprpf 6%. 76% Consol Cigar pt (7 16% Consol Kilm (2). 18 Consol Film pf (3 96% Consol Gas N ¥ (4).. 99% Consol Gas NY pf(5) 12 Container(A) (1.20). 4% Container(B)....... 27% Contl Baking (A).... 4 Contl Baking (B).... 78% Contl Baking pf (8).. 50% Contl Can (2%). 23% Contl Dia Fibre (3).. 4% Contl Motors 45% 19% B2% 80l 224 51% 10314 . First Mortgage Loans On improved Real Estate in the District of Columbia and nearby Maryland and Virginia for 3, 5 or 10 year terms on your 5% o Apply 1% 6704 11% Home Apartment Kelsey Hayes (2). Kelvinator Corp Kennecott Cop (5) Kimberly-Clark (13) . Kinney (G R) (1)...: Kolster Radio. Krate Ph Ch (1), 0 Kraft Ph Ch pf(6%). Kresge(SS)Co(1.60) Kress (SH) (1)..... Kreuger&Toll (1.34) Kroger Gr&Bak(nl). Lambert Co (8). Lee Rubber & T} Leh Port Cem (2% 4 Lehigh Valley Coal. Leh Val Coal pf (3).. 1gh Valley (14%) Lehman Corporation Libbey Owens (1)... L|u-u & Myers(16) g & Myers B(16). 10: ek Belt (2.60). ... Liquid Carbonia (4). Loew's, Inc (3)..... 6 Loew's, Inc ot (6%). Loew's pf xw (6% ). F I'R:S'T MORTGAGES YOU CAN ACCEPT OUR APPRAISAL of the value of the real estate back of our 6% FIRST MORTGAGES —for we put our third of a cen- tury’s experience to the task. So that while the interest is very liberal the security is very definite. You need have no concern— either for the safety of your principal or the regular pay- ment of the definitely stipulated interest. May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 925 15th St. N.W. RANDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESPONDENT NEW YORK LIFE INSURANCE COMPANY 1321 Connecticut Ave. Decatur 3600 Equitable Co-operative Bldg. Assn 50th YEAR COMPLETED WALTER S. PRATT, Jr., Secretary Over a Third of ¢ Organized 1879 JOHN JOY EDSON, President Assets $5,723,083.61 Subscription for the 99th Issue of Stock Being Received Surplus & Profits. $1,755,911.57 Long Bell Lumb (A). Loose-Wiles (12. 10). % Lorillard (P) Co. Lorillard (P) pf (1) Loutsiana Ofl. Louis & Nash Lou G & EI(A) (1 Ludlum Steel (2). Ludlum St pf (6%) . McAnd & F (12.85) ..« McCall Corp (23%). .. McKeespt T P(143%), McKes & Ro pf(334). MeLellan Stor Mack Trucks (6). Macy(RH) & Co(n2) Madison Sq G (134).. Magma Copper (5). Mallison & Co. Manati Sugar pf. Man Elec Supply.... Man Elev mod (d5). Man Shirt (2). Market St Ry . 17% Marmon Motor (h Century Without a Loss Save Systematically! Contl Shares (1) s Corn Prod (13%) 24% Coty, Ine (k2). 25'% Cream of Wht( . 10% Crosley Radio (1)... 43 Crown Cork & Seal. .. 15 Crown Zellerbach(1) 75% Crucible Steel (k§). . 3% Cuba Cane Products.. 9 Cuba Co.. 6% Cuban-Amer Sugar, . 41% Cudahy Packing (4). 114% Curtis Publish pf(7) 6% Curtiss Wright Corp 138 13% Curt Wright CorpA. 11 105 Cushman's pf (8).... 10s 64 Cutler-Hammer(3%) 6 28% Davison Chemical... 34 - The Equitable plan encourages thrift and systematic saving. Start now while you are earning and save consistently for financial independence. Come in today and let us explain OUR methods. 915 F St. N.W. $2.50 PER . SHARE [ ponnRonSem raSrenlame o S = 5 = 33 THERE IS NO SUBSTITUTE FOR SAFETY 21% 20% (Continued on Page 1) . 1% Modern methods enable a whaling ship to kill a dozen times as many whales as . &smerly. 90% E43%