Evening Star Newspaper, June 23, 1930, Page 13

FINANCIAL. PRICES ARE LOWER OND. . EXCHANGE Bonds Hold Firm, but Stocks Show Effect of Selling. BY EDWARD C. STONE. Prices were somewhat lower in some | issues on the Washington Stock Ex-' The largest amount of | change today. trading was in Merchants' Transfer & Btorage preferred, which opened at 99 and closed at 95%, on a turnover of 100 shares. Capital Traction sold in small lots at 60, ex-idividend; Potomac Power 5'; per cent preferred moved at 1063, Lib- my National at 200, National Savings & Trust at 545, Lanston at 117 Ind Mergenthaler at 97. Bonds were in fair demand around | recent levels. New Security Bank Director. Stacy M. Reed, treasurer of the C. A. + Bnow Co. and of the Argonne Co., has been elected a director in the Security Savings & Commercial Bank, according ‘o announcement by Vice President Francis G. Addison, jr. Mr. Reed has oeen with the Snow Co. since 1916 and will be one of the city’s younger bank directors, He is a graduate of the National Uni- versity Law School, having the degree of L. L D, is also a member of the District of Columbia Bar, Stansbury Masonic Lodge, an associate member of the bar association and member of the Delta Theta Phi Legal Praternity and the Board of Trade. He is a native of !?mflckshur‘ Va. Agents Attend OMd Point Meet. Harold D. Krafft, general agent in ‘Washington for the State Mutual Life Assurance Co. of Worcester, Mass., left here today for Old Point Comfort, Va., to attend the annual general ents’ conference and convention of that com- pany. J. A. Marr, associate general agent, and H. Gordon Edmonds will also attend the convention. Mr. Marr has Tecently been elected to the executive committee of the State Mutual Pield Club, an office he has won through con- sistent larger production over a period of years. A number of the leading pro- ducers of the State Mutual from all parts of the country have visited Wash- during the past few days. Legge Seeks Aid of Bankers. Alexander Legge, chairman of the Fed- eral Farm Board, suggested to the na- tional officers of the Mortgage Bankers’ Association of America In session at ¢ Chitago that a definite program of co- + National Bank and Robe: operation be developed between the board and farm mortgage ' bankers throughout the country. “‘Mortgage bankers in your organiza- tion lending millions of dollars of insur- ance funds on the security of farm lands are in a strategic position to assist the farmer directly and to help the Farm Bo#rd keep in direct touch with farm oblems,” said Mr. Legge. “The Farm ard looks favorably upon the appoint- ment of a contact committee properly representative of mortgage bankers and insurance company investors to advise the board with reference to economic questions involving land utilization and trends in agricultural finance.” Bank Deposits Up 24 Per Cent. Debits to individual accounts, as re- rted to the Federal Reserve Board by nks in leading cities for the week ended June-18, aggregated $17,074,000,~ 000, or 24 per cent above the total re- ported for the preceding week and 3 per cent below the total reported for the corresponding week of last year. Aggregate debits for 141 centers, for which figures have been published weekly since January, 1919, amounted 'D ‘lG 172,000,000, compared with $13,- 3,000,000 for the preceding week and | ’IQ 610,000,000 for the week ended June 19 of last year. Bank Heads Change Rapidly. After running along for many months without any changes among the presi- » dents of Washington banks, there have Tecently been three in almost as many weeks. The first came when Joshua Evans, jr., took the helm of the District rt N. Harper became chairman of the board. Then the death of Frederic E. Farrington brought John C. Walker to the presi- dency of the Chevy Chase Savings Bank. while & few days ago John D. Howard ‘was elected to guide the Seventh Street Savings Bank, August H. Plugge becom- 1ng chairman of the board. Previous to these three changes, the last move of this kind took place when Wade H. - Cooper was elected president of the Commercial National following _the merger with the Continental Trust Co. Heard in Financial District. The Federal Reserve Board is going to the very limit in an effort to help business. The reduction to a 2, per cent rediscount rate gives business the A benefit of the cheapest funds in Reserve » history. In times past the restorative of cheap money has always worked out favorably. Only a little more excavating remains to be done before work on the founda- tion of the new annex to the American Security & Trust Co. will be started ‘When construction starts the new building will be run up 10 stories. Eastman, Dillon & Co. sfinounce the admission to general partnership of Loring Dam, H. Lawrence Jones and ‘Winthrop Sargent, jr. Mr. Sargent and Mr. Dam will be associated with the Philadelphia office and Mr. Jones will be a floor member of the firm on the New York Curb Exchange. Norfolk & Western estimates May t operating income at $3,050,000, as 'sgainst $3,865,101 in May, 1929: net income after taxes and charges ap- proximately $2,100,000, against $3,682,- Freight rates on steamships and motor vehicles operated by the New York, Philadelphia & Norfolk Raillroad between Norfolk, Port Norfolk, Old Point and Cape Charles will be in- vestigated by the State Corporation Commission with a view to reductions. GRAIN GRADING DEPOT PLANNED AT EASTON Epecial Dispatch to The Star. BALTIMORE, June 23.—In order that wheat may be graded before ship- ., a grading grain_laboratory will Bi operated in Easton this Summer. Pederal inspectors, working in con- junction with the Baltim8re grain in- tors, conducted a laboratory there Jast year as an experiment. More than 100,000 bushels of wheat were graded and this year the farmers are anxious mu v,helr wheat be graded before ship- Ommty Agent Brown has arranged to haye the necessary ;puutus set up and farmers can send in samples of thefr wheat for grading as soon as threshing begins. KABYLAND TOBACCO PBICES s:LTmORE June 23 (Special).— receipts and n.i)u h?:’ D‘Anryl:nd leaf tobacco continue to show increases each week, the former total; 795 hogs- heads last week, while sales of heads were reported, leavi g:‘k tobacco warehouses of 2,523 hogs- ads. Under an active demand prices are # very firm for all grades and somewhat higher for the best grades of firm Jeaf as well as seconds. Quotations today for eryllnd lel( fobaceo per 100 pounds: Inferio sound eommon, oonu.oo, lood 15.00a24.00; medium, 25.00a to fine red, 35.00243.50: 44.00245.50. on 6.00a7.00; ~ medium 00 gu:: to fine, 26.00a36.50; R e, leaves, i county . nominal; ~Fr 1013 1003 33% 347 ©9% 4l 55% 4 105 1181 2843 51 o6l 28y 1367 100% 62 2 22% 05 102% Atch To & SK pf (5). 156 %8 109 122% 4!% 120 4« 100 exceptl Stock and 3 Dividend Rate. 22 Abitibl Pwr & Paper 45 Abraham Stra 21 Adams Exp (1.60) 85% Adams Expr's pt (5). 23 Adams Ml (2)... 30% Addressograph (1%) 8 Advance Rumley. % Ahumada Lead. 115% Alr Reduction (3) 18 Alr Way Tl Ap(2 1 Ajax Rubber 4'4 Alaska Juneau. 18 * Allegheny Corp. 93% Alleg Cp w 330 w 54 90 Alleg Cpw 310 w54 236 Allled Ch & Dye(n§) 48% Allis-Chulmers (3).. 28% Alpha Port Cemt (3) 18 Amerada Corp (1) 4% Am Agricul Chem 24% Am Agricul'Ch pf... 68 Am Bank Note (13). 29% Am Bosch Magneto. . 42 Am Brake Shoe(2.40) &% Am Brown Bov Klee. 60's Am Brewn B E pft7) 110 Am Can (4)... . 6l 1404 Am Can pf (7) 44 Am Car & Fdy ( 5 Am Chain Co +3) % Am Chicle (12%). 0 Am Comm Alcohol. . 33% Am European Secur. 561 Am & Forn Power. .. 92% Am&Forn Pwr 24 pf. 19% Am Hawaitan (110). 22 Am Hide & Lea pf... 56% Am Home Prod(4.20) 81 AmlIce (14).. . 28% Am Internatl (2). 2 Am La Fr & Foamite 49% Am Locomotive (4).. 49% Am Locomot pf (7). 1854 Am Mach & Fdy c’n. 20t Am Metal u» 80 Am P&L1 pf A st(5). 2315 Am Ra&Std San 1%. 15% Am Republics..... 51% Am Rolling Mill(n2) 521 Am Safety Razor(b). 55% Am Sm & Ref (4). 7 Am Solv & Chem. 21 Am Sol&Ch cv pf(3). 36 Am Steel Fdy (3)... 110% Am Steel Fdy pf (7). 42% Am Stores (2)...... 50% Am Sugar Ref (§) 104 Am Sugar Ref pf (1) 9% Am Sumatra Tob. 197 197 120 Am Tobaceo Am Tobacco B Am Writ Paper ctfs. 291% Am Writ Pa pf (4).. 6% AmZinc Ld & Sm. 50 Am Zinc pf (6) 441% Anaconda Cop (7)... 265 Anaconda W&C (3), 18% Archer-Lan-M (2).. % Armour of 11l (A)... 2% Armour of 11l (B) 6% Arnold Constabl 31% Asso Appl Ind (4) 28 Asso Dry G (2%), 85 Asso DG st pf (6). Atch To& > ke (V). Atl Coast Line (110) 53 AUGuIf& W inddl). Atlas Powa 25% Atlas Stores (nl). 6 Atlas Tack. 95 Auburn Aulo (J4)... Auto-8trop Saf K(3) 4% Aviation Corp of Del 19% Baldwin Loeo (1%) 100% Balto & Ohio (7).... 784 Balto & Ohio pf (4). 63 Bang & Aroos (3% ). Bang & Aroos pf (7). 14 Barker Bros (z)..., 3 20% Barnsdai, A «3) 491 Bayuk Cigar (3)..,. 97 Bayuk Cgr ist pf(7). 67'% Beatrice Cream 14). 34 Belding-Hemingway 80 Belg N Ry pt pf b.49. 28% Bendix Aviation (3). 31 Best& CO (2)..uuene 76% Bethlehem Steel (6). 28 Bethlehem Sti pt (7) 2% Blaw-Knox (1%) 19 31% 70 Bohn Al & srass (3). Bon Am 2 Booth Kish 20 Booth Fish 1st pt. 0UY% Borden Co (K8)...vs 26% Borg Warner (3).... 13! Briggs Mg Co...... 155 13 Brockway Motor Trk 8 68 Brockway Mot pf(7). 30s 58% Bklyn-Mannat(4)... 19 Bklyn Union Gas (6) 37% Brown Shoe (3). 13% Bruns-Balk-Col ‘er & R: 1 114 39 Buft & Susque ct: 14 Buff & Sus pf ctfs(4) 1808 27% Bullard Co (1.60)... 31 264 Bulova Watch (3) 15% Burns Bros (B). 32 Burr Add Mch (1) 29 Bush Termni (2%).. 3 100% Bush Term deb (7)., 40s 21y Butte Cop & Z (60¢) . 23, Butte Superior 13% Butterick Co. 68 Byers (A M) 109 Byers (AM) 64 Calif Packing (4)... 28 Calif Petroleum 1 Callaahan Zinc & Ld. 48% Calumet & Ariz (2).. 13 Calumet&Hec(all). 7 Campbell Wyant (2) Canada Dry G A (5). Canadian Pacific(10) 46% Can Pacific(new)w.L 56 Canada South (3)... 20 Cannon Mills (1.60) 13 Capital Adm (A).... 164% Case (J 1) (6).. 115 Case (J 1) pf (7).... 54 Caterpillar Trac 13% 5 Celotex Co. 1 Cent Aguirre As 1%4. 3% Century Rib Mil 3t Cerro de Pasco (6) .. Certain-teed Prod... 2% Checker Cab (4.20).. 172% Ches & Ohlo (10).... 53% Ches & Ohlo Corp (3) 4% Chi & Alton. .. 415 Chi & Aiton pf 12 2z 121 Chi M1l StP & Pae 20% Chl Mil StP & Pae pf 714 Chicago & N W (5).. 11% Chi Pneu Tool. .. 46 Chl Pneu T pf (3%). Chi R 1 & Pac (7). 98 Chi R 1& Pacpf (6). 20 Chickasah Cotton Ofl 51% Childs Co 12.40) 244 Chrysier Corp (3) 6% City Storea (50e. 30% Clark Equipment (3) 30 Cluett-Peabody (5) 133% Coca-Cola (8).. 48% Coca-Cola A (3) 511 Colgate-Pal-P (2%). 14% Collins 73 Collins 12% Colonial Beacon. . 86'% Col Fu, €5 Colo & South (3). 5914 Col Gas & K1 (3). ., 16% Colum Graph (a28c). 316 113% Colunmibian Carb (16) 173 23% Comm Credit 2) 28 81% Comm Credit A (3).. 2 22 Comm Cred pf B 12).110s 22% Comm Cred pf (1%). 80s 764 Com Credit 1st (6% ) 20s 281% Comm Inv Trigl.60) 21 50 Com InvTevpfies) 3 89 Comminv Trpfé%. 2 20% Comm Solvents ($1) 17! 12% Comwlth & Sou ’ 99 Cmwlith & Sou pf 55 25 2 2 20 2 2 13 96% Conso! Ga N v 4. #9% Consol Gas NY pts) 49 Con RR Cuh of % Consol Textile. % cnhll-u) sold in odd lots Sales— Auu.mn. |.;-4 S (130). _ 3 134 THE EVE NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Notice—All stocks are sold In ene hundred-share lots those designated by the letter s (65s) which shows those stocks to be 930~ (285s) only. Close. “26 434 2419 88 27% 2% 15 124 4 2 19% 99 106 102 102% 102Y; 102% 55 85 1 1 1 L19% 136 M8 H 121 256% 3% 10% 62 114% 9% 103y 112 NING STAR,. WASHINGTON, Add o0, S 1 - 1% Contl Baking (B Contl Baking pf (8).. Contl Can (2%)..... Contl Dlamond (2).. % Contl Insur (2.40), .. Contl Motors. ... % Contl Ofi of Del. Contl Shares (1).... Corn Prod flli).... Coty Inc..... Cream of Wht( Crex Carvet. .. Radio. .. Cuba Cane Producta Cuba Co. CubanAmer Sugar. . Cuban-Amer Sug pf. Cudahy Packing ) Curtis Publish (163 Curtiss Wright Corp Curt Wright Corp A. Cushman’s pf (7)... Cushman's pf (3). Cutler-Hammer (3% ) % Davison Chemical Delaware & Hud (9). Del Lack & Wn (17). Detroft Edison (8).. Devoe&R (A) (2.40). Diafhond Match (8). Dome Mines (1).. Dom Stores (31.20).. 4 Drug Corporatn (4). 15% 100% 114% 4 Emerson-Brant (B). 4' Fed Motor Tr (80c). Dunhill Intl (34).... Duplan Silk (1)... 1 Du Pont GON'!'A.TII) 136 Dupont deN db pf(6) 1 Eastman Kodak (18) 79 Eaton Axle & 8 (3).. 61 Eltington-SchHd...4 6 Eitington-Schild pt. Elec Auto Lite 18). . Electrie Boat. E) Pwr & Lt (1 El Pwr & Lt pf (7). Elec Storage Bat (§) Endicott-John (5)... Eng Pub Serv (2.40). Eng Pub Sve of (5).. Eng Pub pli6%) Equit Office Bldg (3) Erie R R. Erie R R 1st nf (l).. Evans Auto Loading. Fairbanks Co pt. Fairbanks Mor: Fash Park Asso. Fed Lt & Tre (31%). Ped Lt & Traspf (§) 108 11 1 b 2 2 2 - » - KR®E oFapNNRRMKR el Fed Wa A (02.40) Federated Dept Strs. 14 Pho Fire 1(2.60). Firestone T&R(1.60) Firestone T&R pf(8) First Nat Strs. (!'A). Flsk Rubber. 4 Fisk Rubber 18t pf. . w- Follansbee Bros (3).. 1 Foster Wheeler (3).. 72 Foundation Co...... 4 Fourth Natl Inves 9 Fox Film (A) (4) ¥reeport, Tex (16).. Gabriel Snub(A)new Gamewell Co (5) Gardner Motor Gen Am Investors, Gen Am Inv pf (§) 119 b2 & 4 Baking pf Bronze (). Cabl Cable (A) “) Clgar (4). Gen Llectric (1.60). .2028 Gen Elecspec (6Vc). 14 Gen Food Corp (3)... .89 Gen Gas&EL A(e30). 74 Gen G&Elev pf(6).. 2 Gen Ital Eds (a2.62). 2 Gen Mills (3). . Gen Motors (13.39). . Sn m Motors pf wi (5) Motors pt (7) t Qut Ady 13) Out Adv(AJ Print Ink pt (6). Gen PublicSve (b6). Gen Ry Signal (6) Gen Realty & Otil. .. Gen Refractor(14%) Gen Steel Cast pt (6) Gen Theat Equip vie. Glllette Saf nnnnl) Gimbb! Bros. . Gimbel Bros pf (1).+ Gildden Co (2) Gold Dust pf (6). Goodrich (5 F) (4).. Goodrich (BF) pt (1) Goodyear Tire (5)... Goodyear 1st pf (7).. Gotham Silk mnm Gould Coup Graham-Paige Graham-Paige rcu . Granby Con Min (3)+ Grand Silver 8 (m1). Grand Union. . Granite City St1 (4) Grant (W T) (1).... Grt North pf (6) Grt North pfet (5). Gr Nor ctfs Ore (a% Grt West Sug(1.40) Grigsby Grunow.... Guif Mobile & North ' Guif St St 1stpf(7). Hadkensack W (13) Hackensk pf A(1%). Hahn Dept Stores. .. Hahn Dept S pf(634) Hall (W F) Pr Co(2) Hanna pf (new) (7). Har Wkr Ref (12%) Hartman (B) (1.20) Hayes Body. Hercules Mot (1. Hercules Powder (3) Hercules Pow pf (7). Hershey Choe (b Horshey Choo DE(TE) Hershey Ch pr pt(§). Hoe (R) & Co. Holland Fur (s12%). Hollander Sons. Houdaille-H (B)1.20, Household Fin pt(4) . Houston O11 (b10%). Hupp Motor Car (2 Ilitnots Central (7). Independ VIl & G(3). [nd Motor Cyel Indian Refining. ¢ Indlan Refining reta. Indus Ray(b6% stk) Ingersoli-Rand (16). Inland Steel (4).. Inspiration Cop (2 Insurance Sh (45¢) Insuanshares cfs ) Interboro Rap Tran “ Interlake Iron (1) Intl Agricultural.,. Intl Agrieul pf (7 Int] Bus Mach (n§ Intl Carriers, Ltd %. Iatl Cement (§) Intl Combustion Intl Comb Eng pf. intl Harvester (234). Intl Harvester pf(7). Intl Hydro E1 A (e3) Intl Paper pf (7). intl Pap & P (A)2. Intl Pap & Pwr IB Intl Pap & Pwr Intl Pap&Pwr pf l'). Intl Printing ink (3) intl Rwys Cent Am Int Rys Cen A pt (5). Intl Salt (8) Iatl Salt (new) Intl Shoe (3). 08 16 33 ). Inter Dept Strs (3). [nvestors Equity(3). Island Creek Coal(4) Jewel Tea (14) 2 362 8 10 Jones & Laugh pt(7) 10- Jordan Motor Car 12 Karstadt (R) (1.02). Kelly-Spring 8% of. Kelsey Hayes (27 Kelvinator Corp. llll Low. Close. STOCKS IRREGULAR FOLLOWING RALLY " L e \Trading Turns Dull,, With 59% 5 27 25% 154% 1524 114 11L% 106 102% 117% 117 190 179 21% 20 5% b 40 40 6215 59% 4% 4w 66% 59 1067 106% 62 6l 1% 48 AT% 100% 100 100 100 46% 46% 928 92 126', 126l W 10 10 38% 35% 1064 106% 26 24% lom IM 28 28 28 27% 134 1214 123 86l 85 9213 93 120% 120% 120% 120% ey 2 1% ———— e 4Continued on Page 14), Tone of Market Still Uncertain. By the Associated Press. NEW YORK, June 23—After a fur-| ther flurry of selling at the opening, the stock market turned dull and rallied under short covering, giving Wall Street another breathing spell today and a I chance to try to penetrate the mist of uncertainty. Such important stocks as United States Steel, Radio and American Tele- phone were again depressed to new lows for the year during the morning, but the entire list turned decidedly upward around midday after a premature rally soon after the opening, and most lead- ing stocks showed net gains of 1 to more than 3 points by early afternoon. ‘Week end news failed to show any- thing more than seasonal trends such as must be expected at this time of year and public pronouncements on Street normally turns for guidance, ‘were not forthcoming. The reticence of Secretary Mellon rTmmg general bunnus prospects, in his discussion of the tariff last week, was described in week end analysis as distinctly disap- pointing to the financial community. Commission house sentiment re- mained cautious. While several pre- dicted a technical rally this week and felt that after. this continued selling must be dragging bottom, others were still gloomy. Such shares as U. S. Steel, American Telephone, Radio, Bethlehem Steel, Allied Chemical and International Teie- phone declined 1 to 3 points to a new 1930 low, Steel coming within 21 of the November bottom, but soon recov- ered to show of similar extent. Public Service of New Jersey and Amer- ican Can were well supported from the start and sold up more than 4 points. Case shot u more than 10 points. American B lost 9% before rallying. The rally brought out renewed sell- ing, however, and gains were held with difficulty. ‘The commodity markets continued largely to move with stocks; July wheat dropped below 90 cents a bushel, the lowest since 1914. METAL MARKET. YORll(y“JuM 23 (®). to serve you. facilities ? conditions, from sources to which Wall | D.. C, MONDAY, JUNE 23, 1930. Iron quiet; No. 2, {. 0. b. Eastern Penn- sylvania, 18.00a10.00; Buffalo, 16.00a 16.50; Alabama, 1700!1400. T\n eny SL U.mh 'fi‘ Louls, spot and lulure 132!( 35 An- timony, 7.10. Quicksilver, 120.00. SHORT-TERM SECURITIES. (Reported by J & W. Seligman & Co.) ld. Mled Allis-Chalmers go !|l P!'l . of Selitornia petr Corn 8tas 1934 Canadian Nor. Rwy.'4l3s 1935 0 Rock Island 4s 1934 Copper Co. 58 1947 Ehdang Backing Co, bias 193" ¥ Gen, Mot, Accep. Corp, e 1937 General Pei Corp. 5s 1940 10: Gen, Theaters Eauip. 65 19 Goodyear T. & R. Grand Trunk of C-nldn (S 93 Oil ot Ps 1s37. 10 ell em lair Crid o dnrd Off N Jersey 52 1048, ana ouln Tork 423 1981 ubber Ventern. Bractric ‘Co. 33 ' i 1 feel Corp. 81as 1948 Steel Corp. 4'as 1953 1045 102'2 91 Specializing in Established Business Investments JAMES Y. PENNEBAKER Nat. 5291 1520 K St. N.W. First Moflzlga Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Real Estate Loans “Lowest interest and commission. Large and small loans negotiated. Also -ony for sound 2nd Trusts Moore & Hlll Inc. 730 11“\ Strnt N.W. —Copper | spot and future, 12. Whatever the Size of the Balance —you carry ‘this vet- eran bank will be glad | 1 Why not avail your- self of our complete 3% on Savings \ National Metropolitan Bank 1814—Oldest National Bank in the District of Columbia—1930 15th St., Oppo!ite U. S. Treasury not looking for a “job,” experience is not necessary and ambition. communities, or still active, years. volved. sand or more. T Loan Plll’l 809 15th St. N.W. Mortgage Loan Representatives " An Exceptional Opportunity FYTHIS advertisement is addressed to men who, though would be interested in a con- nection with a large securities organization which will be pleasant, profitable and permanent. The work does not require traveling but can be done in your own community—be it large or small. N Previous for men of ability, character Men who are well acquainted and influential in their with successful business records, retired, will find this an unusual opportunity to earn $5,000 to $20,000 annually. Write, fully about yourself and in confidence. tion is available now because of sales expansion plans. . Several hundred men have been doing this work for No promotional or pioneering efforts are in- Applicants are desired from cities of five thou- This posi- Address Box 253-Z, Star Office Suburban Home Owners HE Metropo]itan Life Insur- ance Compnny Real Estate is available to home owners in nearby Mary- land and Virginiu. Loans for Fifteen Years Low Interest Rates Consult District 9486 Correspondent Metropolitan Life Insurance Company FINANCIAL, Equitable Co-operative Bldg. Ass'n Orginized 1879 JOHN JOY EDSON, President Assets ...............55723,083.61 ubscription for the 99th Issue of Stock Being Received 50th YEAR COMPLETED WALTER 8. PRATT, Jr., Secretary Surplus & Profits......$1,755,911.57 Systematic Investing! Small, Regular, Constant in\'esting':’ will bring you nearer your goal than larger sums_haphazardly saved. 915 F S5t. N.W. MORTGAGES COMFORTABLE INCOME A “preferred” investment is one in which you can definitely n the amount of interest you will receive; and the exact date upon which you will re-, ceive it. It is these certainties Over n. Third which make our of a 6% FIRST Mom'cAcas""' so popular. Century Without a May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 925 15th St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY - | Refinancing at 54 offers the advaniages of a longer loan term, and a lower interest rate . . May we prove to you, in detail, the sub- stantial savings possible through five- and one- half per cent financing. for “The Prudential” Prompt approvals— Valuable prepayment privileges — Three-year loans on newer properties without amortization H. L. Rust Company 1001 Fifteenth Street National 8100 ESTABLISHED 1889 If the United States Stops Growing! + IF this nation stops its growth and progress —if America ceases to go forward—an in- vestment representing a cross - section of Ab.\;urican business might not prove profit- able. But if the growth and progress of Ameri- ca continue, then such a cross-section should prove to be an excellent invesment. STANDARD AMERICAN TRUST SHARES make possible an automatic par- ticipation in the nation’s progress, through investment in a diversified list of shares of leading American corporations, constitutin a comprehensive cross-section of mcusfui American business, * These shares include American Tele- hone, General Electric, Canadian Pacific, du ont, U, S. Steel, and twenty others—com- binedina single investment, If you believe in the continued growth and progress of America, this investment is de- vised especially for you. Investigate Standard American Trust Shares, Write today for descriptive circular, STEIN BroS. & BOYCE Established 1853 Woodward Building . .. Washington, D. C. Mpin Office, Baltimote, Md.