Evening Star Newspaper, July 4, 1930, Page 9

rY WHEAT ACREAGE REDUCTION URGED Every Sign Points to Lower World Grain Prices the Next Seven Years. BY JOHN F. SINCLAIR. “Mr. Farmer, cut your wheat acre- age Again this warning goes out from Ar- thur M. Hyde, Secretary of Agriculture, and Alexander Legge, chairman of the Farm Board, in opening & new cam- paign for acreage reduction. The report of the Bureau of Agricul- Rural Economists, dealing with this sub- ieu, suggests that every sign points to ower wheat prices during the next seven years, as compared with prices during the last seven years. The world expansion of wheat acre- ege is largely responsible for cheap prices. In the United States, the South- western Winter wheat States show an increase of 4,000,000 acres from 1924 to 1929. Canada, Argentina and Australia have increased their acreage during the same period of 10,000,000 acres. Since 1910 the United States, Argen- tina, Canada and Australia together have increased their wheat acreage 32,- 000,000 acres. There seems to be only one solution for cheap prices—to cut acre down to & point where little or no wheat ex- port is necessary by the wheat farmers ©of the United States. So this new campaign, inaugurated by the Farm Board and the Department of Agriculture, aims to tell this story to every grower of wheat in the United Gtates. Norman Beasley's new book, “Freight- ‘ers of Fortune,” is the story of the Great Lakes and their importance in opening and pioneering the great Middie West. “Romance, Tragedy. Drama.—The lakes have furnished all,” says Mr. Beasley. “The canoes of the Senecas have glided over them; shi have lunged into great depths; soldiers of ance, Spain and England and the United States have fought for their possession. “And, now, for more than 100 years, two nations, 1b side by side, have shared them and have built a pageant of traffic, the like of which is seen nowhere else in the world. Across them every year, moves a mnn-g: that is many times greater than at which passes through the Suez Canal, where | back meets the trails of the world. It's a fascinating story, told in & most delightful manner by one who has lived his “Lakes” and writes exceed- ingly well of the spirit of the great adventure. ‘Truly “the romance of today is the fomance of men who have bullt an unparalleled commerce.” ‘When the bottom of the 1821 depres- son had been reached, industrial st were selling on a basis to yield almost 9 per cent—one authoritative sta- tisticlan puts the yield at 8.92 gler cent. How does this compare with ylelds now? High-grade bonds today are sell- ks | week’s rate abnormally and resulting in NANCIAE. HURT IN AUTO CRASH Frank Lee Appleby’'s Motor Car in Collision With Dr. Bowman’s. Special Dispatch to The Star. SILVER SPRING, Md. July 4.— Frank Lee Appleby of this place was injured about the head and y in & collision of his auto this morning st South Georgia avenue and the Coles- ike with a machine driven by Dr. David D. Bowman of Washington. He was sent to the Walter Reed General Hospital after being looked over by Dr. Bowman, who was unhurt. L. L. Chamblin, who was with Dr. Bowman, was not injured. S RS STEEL ORDERS OFF INTHIRD QUARTER Slump in Automobile Demand Is Biggest Factor in Present Conditions. Special Dispatch to The Star. CLEVELAND, July 4.—Steel produc- ers enter the third quarter with no illusions concerning the early part of it, says Steel, formerly Iron Trade Review. Automotive demand for steel is at the vanishing point, with Ford closing from July 11 to 28, Chevrolet down to & three-day week and most other makers curtafling. Railroad business on mill books is nil. While structural awards are moderately good and pipe output is excellent, these divisions of the indus- try merely continue June levels. July, therefore, is a month which producers themselves concede the sooner past the better. Partially because this month threatens to dip so sharply, there is some opinion that a modest rebound will develop in August. For one thing, automotive manufacturers who are out of the market this month should be back in a modest way next month. Also, many eonsumers have permitted their inventories to dwindle to the point where some replenishment becomes im- perative. Early Rebound Held Unlikely. But no great hopes are predicated on this rebound. In the frank spirit with which 1t now views the situation, the steel industry cannot vision a really virile market without a decisive come- in buying by the railroads and the now in the general situation to warrant expectations that a general recrudes- cence of buying power will materially quicken these major consumers of steel in the next few months. ‘While the trend of steelmaking oper- ations continues downward, the true sltuation is obscured by July 4 shut- downs. Many finishing departments automotive industry. There is nothing| U THE EVENING STAR, WASHINGTON, (OBJECTORS' TINE GIVEN EXTENSION Trade Commission Allows Delay for Considering Practice Revision. By the Associated Press. The Federal Trade Commission has formally acceded to the request of trade practice conferences and will grant a delay ‘of 30 days from next September 25 in which to file objections in writ- ing to changes or modifications of ex- isting laws. The request was forwarded to Chair- man Ferguson of the commission by Abram Myers, chairman of the standing committee of :gptnxlmmy 100 indus- tries, which eady have held trade practice conferences, on the ground that such delay would enable the vari- ous industries to compare notes as to the practicability of rules now in force, which, in turn, would enable the com- mission to proceed on facts rather than opinions. ‘Those industries which have held trade practice conferences will meet in Niagara Falls late in September in con- junction with the annual convention of gle Am;rek:nn Trade Assoclation execu- ves, where & concrete worl sched- ule will be arranged. iy . The succinct purpose of the various trade conferences is to elevate compe- tition among allied industries to the highest point of ethics and efclency. In the main, trade practices consist of two groups of rules—those that have been acted on by the courts and another group yet to be so recognized. In carrying out a recent executive order of the President withdrawing oil shale lands from lease or other dis- posal, the Interior Department has is- sued the following order to land offices: “By executive order and subject to valid existing rights, the deposits of oll shale and lands containing such de- posits owned by the United States were temporarily withdrawn from . lease or other dh[;uil; lr':lfl“éelerved !g tt‘l;e purpose of invesf on, examination and classification, “In order to identify for administra- tive purposes the known areas affected by the order, the Secretary has ap- proved maps prepared by the Geological Survey designating the lands contain- ing oll shale of recognized commercial im&olnnnca in Colorado, Wyoming and “The oll shale deposits and the lands S0 designated, title to which is in the United States, are by the order with- drawn from lease, entry, selection or other forms of disposal, and you will therefore reject all applications for such mining claims or applications under other public land laws which are based on claims to the lands initiated prior will be off all week, depressing this a disproportionately higher one next week, due to a probable accumulation of orders. Steady deterioration in the steelmak- ing to yield 4:53 per cent, preferred stocks, 5.56; industrial common stocks, 5.32; rails, 5.74, and public utilities, 3.25 T cent. wso there is plenty of leeway yet for & reorganization, providing one belleves in the mystic “6 per cent return.” While the depression has mow run nearly & year, nobody can foretell yet which way the current will go, up or down. Some are predicting & rise and some still hold to the belief that we are in for more decline. In all calculations, however, one must remember that while production is on & lower basis than before, consumption has not been restricted anywhere like the same percentage. Hence it's be- ing rate has more than its counterpart in pig iron. An estimate for June shows & Jet loss of 20 active stacks during the month, only 160 being active June 30. June's’ daily rate of 97,972 gross tons was 6.3 per cent below that of May. The June output of 2,939,172 gross tons gave the first half a total of 18,309,278 tons, & marked shrinkage from the 21 637,537 tons of 1929, but within dis- tance of the 18,510,463 tons of 1928. Pig iron buying continues light. June Car Orders Disappointing. When the railroads bought only 900 freight cars in June they the small- est business since last July. For six ‘months of 1930 car orders approximate 40,000, against 62,700 in the first half come a matter of time when one catches uj :‘flh the other. But when? This e factor, however, economists and experts don't seem to agree upon. (Coprright, 1930.) COTTON EXCHANGES QUIET DURING WEEK General Business Is Restricted by Approach of Long Fourth of July Holiday. By the Associated Press. NEW YORK, July 4.—The cotton market was comparatively quiet during the week. There was further evening up of the July position, but the trad- ing in the near month became much less active after the first notice day, and general business seemed to be re- stricted by the approach of a three- day adjournment for over Independence day and the week end. At the beginning of the week ex- eessively high temperatures in the South and complaints of dry weather in some Central and Western belt sections ap- peared to bring in some buying. T was supplied on comparatively moderate advances, however, while moderating temperatures and showers or rains in the South were reassuring as to crop progress later. Additional July notices were issued from day to day, but for small amounts and appeared to be readily stopped, pre- sumably by the same interests who had taken up cotton on the May contracts. Circulation of these notices led to some further switching from near to late months, which, however, appeared to be without much effect on the general level of values. The private end-June erop reports so far as published up to the close today pointed, on the average, to & decrease of about 3,5 per cent in acreage and to an end-June condition of 71.3 per cent, compared with 71.4 per cent at the end of June, last year. Four of these re- ports carried figures on the indicated crop which ranged from 14,150,000 up to 15.061,000 bales, and averaged 14,- | 670,000. FIRST ACCIDENT AT “DEATH TRAP” Two Hurt as Auto Hits Fence at Narrowing Point of Alex- andria Road. @pecial Dispatch to The Star. ALEXANDRIA, Va, July 4.—The first serious accident at the “death trap” terminus of the wide portion of the Washington-Alexandria highway, at the Alexandria city line at Four-mile Run, occurred at an early hour this morning, when two persons were hurt and their auto badly damaged in a collision with the safety fence where the road suddenly reduces to one-half its_former width. Fred Hastey, 1633 W. Lanvale street, Baltimore, Md,, and Viola Hastey of the same address, received cuts and bruises in the collision. Their auto was wrecked, as was a portion of the con- crete bridge over the run. Only yesterday an additional safety fence was stretched across this point in tke road, and it is thought that had it not been for this additional fence the car would have plunged over the em- bankment into the creek below. PARIS BOURSE PRICES. PARIS, July 4 (#).—Prices were steady of 1929 and 28,300 in 1928. Norfolk & Western will bulld 500 box cars in its Roanoke, Va., shops. Steel continues in identic form the composite market average developed and carried along for many years by | Iron Trade Review. Weakness in pig iron at Cleveland and nalls and bars at Pittsburgh lowers the average 10 cents this week, to $33.34, compared with $33.53 for June. COURT FIXES BONDS OF INDICTED BANKERS Officers of Norfolk Trust Co. Must Furinsh $5,000—O0thers $2,600 Security. By the Associated Press. NORFOLK, Va., July 4—Bail bonds of $5,000 each for three indicted officers of the Guaranty Title & Trust Corpo- ration were lfl‘!'fl upon today at a conference of attorneys, Common- wealth's Attorney Harry E. McCoy and Judge William H. Sargent, who will try the cases. Smaller bonds will be required in the case of four employes of the corpora- tion who were also indicted last night by a special grand jury at the com- pletion of the investigation of the af- fairs of the concern which failed last June with liabilities estimated at $16,~ 000,000. Assets were placed at more than $17,000,000, including numerous mortgages on real estate in Virginia and North Carolina. ‘Those for whom bond of $5,000 was fixed are: A. P. Grice, who was presi- dent of the corporation; V. A. Butte, vice president, and John 8. Persons, treasurer. It was indicated that bonds of $2,000 to $2,500 would be accepted for A. H. Callow of the bond depart- ment; J. H. Tatem, his assistant; F. W. McKinney, loan representative of the company in North Carolina, and C. F. Mears of the real estate depart- ment. The grand jury returned a total of 134 true bills against the seven per- sons, 130 alleging grand larceny and 4 violations of the State banking laws. ALEXANDRIA. ALEXANDRIA, Vi —Elmer Beasley, 27, colored, of Wash- {ington was arrested here °yesterday afternoon by Stationkeeper Julirn Raws {lett on charges of felonious assault, | housebreaking and larceny. He 15 said o have stabbed Eddie Carter, colored, a few days ago and is also accused of entering the home of Georgia Price and taking clothing The will of Charles R. Craddock, Southern Railway engineer, who mur- dered his wife, Mrs. Blanche Craddock, |and committed suicide in Washington & few days 8go, was admitted to pro- bate in Corporation Court here yester- day. Dated March 3, 1930, it disclosed {an estate valued at $25.445.89, includ- |ing an apartment house and’ cash in bank. The entire estate is left to the two children, Alice, 10, and Charles Robert, The testator’s brother, E. Withers Craddock, was named executor and guardian of the children, As he is & resident of North Caroling, William A. Craddock, another brother, who resides here, also was named. Dan 8. Hollenga, business manager of the Chamber of Commerce, will ad- dress the Business and Professional Women's Club Tuesday evening at the Geprge Mason Hotel. y Beouts will hold their Independ- ence day celebration st Dripping Springs this afternoon. Preceding this will be a parade, which will form on the 100 block North Washington street and directly to camp. Contests will be held this afternoon and evening. July 4 (Special). on the Bourse today. Three per cent rentes, 87 francs 10 centimes. Five per cent loan, 102 francs 5 centimes. Ex- hange on London, 123 francs 07‘,; ‘centimes. The dollar was quoted at 2! ftxancs 42% centimes. Judge Higgins of London recently re- iported that his wig and gown, 8 neces- sary part of the costumes,of English judges, had been stolen from the court room. to the date of the withdrawal (April 15, 1930). “Lands not designated on the map as ofl shale, but which are, in fact, valu- able for their oil shale deposits, are also withdrawn by said order. Affirm- ative proof of the non-oil shale char- acter of lands not designated on the maps as oll shale, other than the regular non-mineral affdavit, will not be re- quired, “‘However, if your records show any land not designated to be in fact ofl shale in character, you will reject any application therefor. Any entry, flling or selection allowed for lands which are thereafter and prior to patent found to be valuable for oll shale will be subject vl: cancellation by appropriate proceed- gs.” The Federal Trade Commission’s in- quiry into the financial structure of publie utllity companies will be deferred until the middle of September. A spokesman for the commission said today that operating companies of the Electric Bond & Share Co. will be heard at that time in addition to other groups; including the North American Co., which gained an extension some weeks ago. Following the wave of mergers and consolidations in other lines of Italian industry, two of the largest shipbuild- ing companies have now been brought under one management by the Banca Commerciale and its allied interests. The two ds_in question are the Cantiere Navale Trientina di Monfal- cone and the Stablimento Teenico Tries- tino, together with the subsidiary Can- tiere Navale San Rocco. ‘The first of these plants, the Com- merce Department says, is at the head Saturday Only! Special Group of IMPORTED IRISH LINEN SUITS - Were $15 37-.& Slightly soiled from handling. No alterations $1 AND $1.50 NECKTIES $2.95 & $1.95 FAULTLESS TROPICAL WORSTED SUITS. Reduced to of the Gulf of Trieste, founded in 1908 ! and capitalized at 100,000,000 lire. The other was founded in 1913 with capital of 60,000,000 lire, and while successful technically, its financial position has al- ways been t, and recently has been continued as solvent only through the courtesy of its ereditors and the de- sire of every one interested in the wel- fare of Trieste not to allow it to go out of existence. Under the plan of reorganization and consolidation prepared by the Banca Commerciale, the combined capitaliza- tion of these companies, nting to 165,000,000 lire, will be written down to 176,000,000 lire and then raised to 100,- 000,000 lire through the furnishing of 24,000,000 by the bank and its asso- ciates, among whom, in addition to the Cosulich shipping interests, will be found a number of principal Italian firms concerned in shipbuilding supplies and equipment. Shipments of railroad locomotives from principal manufacturing plants during the first half of 1930 amounted to 419, as compared with 319 for the same period of last year. The consignments consisted of 402 steam and 6 electric engines for domes- tic demand and 11 steam for foreign demand. Silver imports into India during the seven days ending June 27 totaled 1,- 631,000 ounces, all of which came from London. The preceding seven days’ im- ports totaled 2,318,000 ounces. Silver stocks on June 27 were esti- mated at 2,400 bars, as compared with 3,100 on June 20. Total offtake for the seven days ending June 27 was 2,500 bars. The market is reported by the Commerce Department as = slightly steadier with a better demand. WHOLESALE TRADE IS REPORTED QUIET Buying for Vacation Needs Has Helped Retail Business, Brad- street’s Review Says. By the Associated Press. NEW YORK, July 4.-—Bradstreet's says: Warm weather and buying for vacation needs have been the chief con- tributors to activity in trade. This mainly at retall, whereas wholesale and jobbing trade have tended to qulet ex- cept for the usual mid-year sales to close out seasonal s. Industry has reflected quieting down either for the period of the holidays or for longer curtailments earlier planned. In the iron and steel trade the first half of July is likely to see a good deal of idle machinery, advance notice of this being given by a further definite slowing down to about 60 per cent of full operations, this comparing with about 95 per cent ruling before the holiday s year ago, A a record f year's output was being scored. 1In this industry, however, there seems to be more optimism than in some other lines, this based partly on seasonal shutdowns help! re- duce stocks and partly on the fact that price changes recently have been few. Another industry in which there is promise of considerable quiet, for a while at least, is lumber, where present capacity is reckoned at from 50 to 60 per cent of normal. Bank clearings not issued. BOYD GRAIN ELEVATOR BURNED, LOSS $8,000 Fire of Undetermined Origin De- stroys Warehouse—Safe and Contests Saved. Speclal Dispatch to The Ster. BOYD, Md, July 4.—Fire of unde- termined origin early today destroyed the grain elevator and warehouse of Hambrill & Oarlin at a loss of between $8,000 and $10,000. Twenty-one hun. dred bushels of wheat were in the structure. The loss was partly covered by_insurance. Firemen dragged s safe from the ruins with chains when the walls col- lapsed and $260 in cash and valuable papers were found intact. The Balti- more & Ohio fire force reached the scene with its tank in time to prevent nearby bulldings from being destroyed. Taghio $250 WHITE ENGLISH BROADCLOTH SHIRTS. Als plain shades of Blue, Tan, Green and Grey..... NO-BELT PAJAMAS ....... BROWN AND BLACK STRIPED WHITE SERGE TROUSERS.........oovvnuiiinnnny ‘The Rockville and Gaithersburg Fire Departments aided, being handicapped by lack of water to fight the flames. il Ghop Saturday Only! Open All Day Well worth a special trip downtown tomor- row for these Bar- gains! All regular merchandise 'way un- der price. Saturday Only! Reg. $2.95, $2.50, $1.95 SHIRTS Lots Reduced R $7.50, $6.50 AND $550 FAMOUS McGREGOR ALL-WOOL SPORT SWEATERS * §1.55 $40 DOUBLEWEAR SUITS. Plenty of light colors and light weights for Summer wear............. s 323.75 R $16.75 $6.95 CHICAGO TRACTION PROGRAM IS LARGE Spending of $200,000,000 for Transportation in Ten Years Planned in City. By the Associated Press. CHICAGO, July 4—The expenditure of many millions for extension and U?u?ment, following popular ratification of Chicago's traction ordinance, is ex- pected to mitigate the unemployment m-‘x":.u”fiiuu ed at a] e tion, approved at & special election, calls for & minimum expendi- ture of $200000,000 over a 10-year period. More than half of that amount will be spent in the next three vears for new cars, & sub ind_extensions of the surface and el ted lines. Work will be begun within & few weeks, the officials of the surface and “L” lines promised. For two months engineers and draftsmen have been working on plans and specifications for the huge project. s rrellmxmr! work hrug has been completed. Besides the huge drain on the labor market, the acceptance of the traction unification and extension ordinance as- sured the letting of large contracts for materials. At the of construction it is es- timated that approximately 50,000 men will be needed to push two bores of & subway system under the downtown district, lay tracks for surface and ele- vated line extensions and bulld sta- - WIll Litt Realty Values. ‘Through the opening up of new ter- ritory in the city’s environs and the improvement of transportation facilities | Th in every section of the metropolitan area, it is predicted real estate values will be raised $1,000,000,000. An immediate reaction to the favor- able referendum was an advance in the stocks and bonds of the street railway companies—securities that had been dormant. All of them advanced 1 to § mlnu, despite the fact that most of em have not ylelded a dividend in years. In building the 64 miles of elevated and subway trackage and 300 miles of surface lines, more than 550,000 tons of structural steel will be used. Other items in the traction building program include 1,500,000 cublc yards of con- crete, 4,000,000 cubic yards of excava- tlon, 100,000 tons of steel rails, 40,000, 000 feet of track timber and 40,000,000 feet of construction timbe: One thousand steel cars for elevated and subway lines are to be ordered and 1,000 steel cars for the surface system. Problem for 20 Years. ‘The Chicago traction problem has puzzled civic leaders and city councils for 20 years, At one time there were three companies operating elevated lines and three operating surface sys- tems. Municipal ownership was a per- sistent threat to the private owners. In 1918 and again in 1925 municipal ownership referendums were rejected. Samuel Insull consolidated the ele- vated roads into one system and one of the surface lines went into Federal re. ceivership after the other company had absorbed the third. All of the trans- portation lines, which will be merged under the new ordinance, were evalu- ated at $260,000,000. The ordinance provides that transfers may be made from the elevated and subway lines to surface cars without an extra charge, but in tranfe: surface cars to elevated an charge of 3 cents will be made. fares are 10 cents and surface fares 7 cents, STOCK IS EXCHANGED. NEW YORK, July 4 (#)—All com- mon stock of Schweitzer & Conrod, Inc., of Chicago, has been acquired by the Cutler Hammer Manufacturing Co. through an exchange of stock, the basis of ich was not disclosed. The Schweitzer Co., manufacturers of high- voltage equipment, does an annual busi- ness of approximately $1,5600,000, FAILURES INCREASE. NEW YORK, July 4 . —Commer - cial faflures in the United States for the week, with returns covering only five business days because of the July 4 holiday, totaled 435, the high for the season, and compared with 338 a year ago, R. G. Dun & Co. reports. In- geographical creases appeared in al sections of the country. Specializing in Real Estate Investments JAMES Y, PENNEBAKER Nat.5201 1520 K St. N.W. Saul Building 925 15th St. N.W. Several desirable rooms at very reasonable rents. Inspec- tion invited. B. F. SAUL CO. Nat. 2100 925 15th St. N.W. [LL]] |;50 W UFE I, S pimfié’):i:Musz(b' A Standard Low Premium Policy for Business and Professional Men Details on Request F. T. Koons, General Agent Union Trust Bldg. Nat. 1015 REAL ESTATE LOANS Made at Low Interest Rates I:llll.l.‘ o enre. NW Money to Loan e reraihios uteret” aad" 3 i Over 30 years’ suc- cessful handling of rents—economical con- sideration for owners. Personal attention to details and prompt remittances. Also facilities for financing. Moore & Hill, Inc. (Sinca 1900) 730 17th Street D. O, FRIDAY, JULY 4, 1930. ALEXANDRIA 10 GET [ONING BOARD Planning Commission Asked of Court by City Council. Power Franchise Delayed. MR Special Dispatch to The Star. ALEXANDRIA, Va, July 4—A park and planning commission will be ap- pointed here in the next few days, and, with the ald of experts, will undertake the task of properly planning and zon- ing the city. At the regular meeting of City Council yesterday a resolution WAS lflnfl(ld, calling on Judge Willlam P. Woolls of the Corporation Court to appoint the commission. The need for this commission and the proper zoning of the city was point- ed out by councilmen before the adop- Uon of the resolution, and particular point was made of the recent petitions for the establishment of business places in residential sections, particularly Rose- mont, which the proper city would automaticall put su end to. e to the fact that but three of the five councilmen were present at yester- day’s meeting, the matter of awarding the :1:.-.«,:1; light and was iyed and a special set for next Wednesday flm'zrnm In connection with the granting of the new electric franchise, petition was presented council by Col. Charles B. Moore, of 207 Prince street, bearing a large number of tures, calling on council to demand that proper steps be taken to correct the 'alleged smoke nuisance now coming from the electric power plant at the foot of Wolfe street. is was received and it was announced Virginia Public Service Co. now had engineers here studying the matter and that they were expected to tflce proper steps to remedy the situ- ation. A resolution was introduced and requesting Attorney James R. Caton, who will celebrate his fftieth anniversary as a member of the local bu-on.rlxfllu,w t eouncil to have published in pamphlet form the series of articles which he ttings the Annals of Virginia and Alexandria.” The council recelved the resignation of Arthur Herbert as a member of the city school board, Herbert being councilman-elect. This was accep’ed. A communication was received from board recommnending 3 C. Beverley, sssistant superintendent of tests of the local department of the “outhern Rail- FirnMortgnge Loans In Arlington County and Alexandria, Vh“!nuy Phone National 2028 |l Loan Correspondent for || The Prudential Insurance Co. Money on Hand to Loan en First Deed of Trust 6% Interest ble and 643 Louisiana Ave. N.W, L ERE R o ol 6% LOANS ON HOMES and Business Property Run for § Years ‘Without Curtailment Wm. H. Saunders Co., Inc. Founded 1887 District 1016 1519 K Loaw Correspondent for the Provident Mutual Life Insurance Company of Philadelphia High Character Mortgages You may enjoy positive safety and an unfailing income if you choose Guaranty First Mortgages. In denominations as low as $250 REALESTATE MORTGAGE & GUARANTY CorRPORATION Capital Resources $3,800,000 24 JACKSON PLACE Bring Your Real Estate Loan Problem to Us— We Can Quickly Arrange it for You 3,50r10 Year Loans On Improved Real Estate IN Nearby Montgomery County and the District of Columbia Sm———— Lowest ILaterest Rates BOEReLpS Founded 1907 oan Correspondent Hancock Mutual Life 0. Jfl.:‘ Insurance 1417 K 8. National 9300 FINANCIAL. SHIPMENTS INCREASE. NEW YORK, July 4 (P).—Baldwin Locomotive Works shipments for the first half of 1930 totaled $17,470,000, compared with $8,590,000 in the like period last year. Shipments in June were $3,290,000, compared with $1,100,- 000 in June, 1920. New business booked in June this year was $582.000, com- MONEY RATES RECEDE Time and Call Funds Easier Dur- ing the Past Week. Money rates continued to recede dur- ing the week ended June 28, as com- pared with the previous week. The pared with $504,000 in the like month last year. Business booked in the first half "of this year amounted to $9,- 370,000, against $17.420,000 in the cor- responding period of 1929. Unfilled or- ders July 1 amounted to compared with $14,130, Equitable Co-operative Bldg. Ass'n Organized 187 50th YEAR COMPLETED JOHN JOY EDSON, President WALTER §. PRATT, Jr., Secretary Assets................$5,723,085.61 Surplus & Profits.....$1,755,911.57 Subscription for the 99th Issue of Stock Being Received average on both time and call funds at leading centers is reported as follows by the Census Bureau: Week ended June 38 Previous week Same week Cultivate Thrift! Come in and let us explain our plan of systematic saving! A week gone by without put away is 2 week wasted, 915 F St. NW. Metropolitan Life Insurance Company REAL ESTATE LOANS AVAILABLE Long Term Low Interest Rates Consuls EAVER W RTKL"I‘%%O 809 15th St. N.W. District 9486 Mortgage Loan Correspondent Metropoliten Life Insurance Company Safe-Profitable-Convenient First Mortgage Notes secured on conservatively ap- praised properties in the District of Columbia and adjacent Mary- land suburbs. Permit us to offer our facilities for the placing of your investment funds . .. Par- ticulars of available notes mailed on request. H. L. Rust Company 1001 Fifteenth Street National 8100 ESTABLISHED 1889 FITRSY MORTGAGES AN ALWAYS COMPUTABLE INVESTMENT When you come to figure up your assets the money invested in our 6% FIRST MORTGAGES can be appraised at full value— for throughout the term of the mortgage this 6% will come to you regularly at every interest period. Ower a Third of a Century Without a Loss May be purchased in amounts from $250 up. B. F. SAUL CO. Vational 2100 925 15th St. N.W.