Evening Star Newspaper, July 7, 1930, Page 13

. FINANCIAL. THE EVENIN STAR, SEEKS ALEXANDRIA GAS LIGHT CONCERN Washington Utility Is Report- ed in Market for Firm in Virginia Town. BY EDWARD C. STONE. According to information received from Alexandria today, the Washington Gas Light Co. has made, or is about to make, the city council an offer for Alexandria’s municipally owned gas plant. The price offered is understood | to be in the neighborhcod of $750,000 | Representatives of the Washington | company recently had an informai con- | ference with members of city council. | Power to dispose of the plant is held | by the city council but to allow voters 10 express their opinion as to whether or not the plant should be sold the | city council had a bill passed by the last State General Assembly making | possible a referendum at any time an! offer was received | The city council, it is understood, | values the plant at approximately $1,000000 and future conferences will | be held in regard to the question of | price before any definite action is taken. The Washington Gas Light Co. is| considered the logical one to take over | the Alexandria concern if it is disposed of by the city. Recently, through its subsidiary, the Rosslyn Gas Co., per- mission was obtained for an extensive | program of mains in Arlington Count: If the Alexandria council continues | to operate the local plant they are ! faced with the necessity of extending | the mains through the new section of | the territory obtained the first of this | year through annexation and in view | of the considerable cost councilmen are believed to be in favor of disposing of the plant provided a satisfactory price ean be agreed upon. Trust Company Closes Earlier. 1In order to give the employes of the nion Trust Co. more time off in the ummer, the executive committee has voted to close the bank during July Bnd August at noon on Saturdays and t 3 o'clock in the afternoon on other eek days, with the exception of the Pfteenth and the last day of the month, Wwhen the bank will remain open until B o'clock. The question of earlier closing dur- ing the Summer was before the Dis- trict Bankers' Association about two months ago. At that time John Poole, president of the Pederal-American Na- tional Bank, was appointed chairman of a special committee to look into the situation and see if a plan now in ef- fect in several large Eastern cities could be worked out for Washington. The matter was dropped because of a lack of unanimous agreement on the sub- ect, the idea meeting the same fate hat it did two years ago. There seems to be a difference among local bankers as what early closing means. Some banks want to keep their safe deposit department open after the ‘windows have been closed. William D. Hoover, president of the National Sav- ings & Trust Co., is one of the bankers who opposes this plan. Mr. Hoover, however, has often said that his bank was ready to join in any early closing move, provided that all the banks in the city close every department and all Jock their doors at the same time. Smith Bond Office Opened. ‘The committee for the protection of the holders of bonds sold through the F. H. Smith Co., of which George E. Roosevelt of New York is chairman, has opened an office in the Second National Bank Building, at 1331 G street north- west. The committee announces that bondholders of all of the “Smith” issues may obtain full information regarding their holdings from the assistant secre- tary, who will be in charge of the local office. In addition to supplying information on all of the issues, a number of which the committee has not called for de- posit, the assistant secretary of the committee, A. A. Laporte, will accept bonds for transmittal to the Irving Trust Co., the depositary of the committee in New York, in the case of those issues ‘which the committee has called for de- posit. Root, Clark, Buckner and Ballantine of New York are counsel and Messrs. Colladay, Clifford and Pettus are local counsel for the committee, which is at present engaged in an effort to secure strong Washington banking institutions a8 trustees, depositaries and paying agents for each of the Smith properties located here. The committee was re- cently successful in resisting receiver- ships on the Hamilton Hotel, the Cavalier Apartment Hotel and the New Amsierdam Apartment Hotel in Wash- ington. Trading on D. C. Exchange. In moderate trading on the Wash- ington Stock Exchange today, after the three-day holiday, Capital Traction stock sold at 5815, Steamboat rights came out at 16l;, Potomac Electric Power 6 per cent preferred moved at 97% and the 5 per cent issues at 1075%. Mergenthaler Linotype sold at 971/ Bond trading was confined to Csm(il ‘Traction 5s, Washington Gas 6s and ‘Washington Rallway & Electric 4s. Treasury Offers $50,000,000 Issue. Secretary Mellon has announced the first financing for the new fiscal year, $50.000.000 90-day bills. The bills will be issued under the law that went into effect a year ago per- mitting the Treasury to sell the bills on a discount basis and redeem them at par when they mature. It will be the fourth issue of such securities which have been found a popular way of rais- ing money needed by the Government at & lower interest cost. ‘The bills will be dated July mature on September 15, the the third payment of income the calendar year, 1929. Leave For Convention. ! Nine representatives in this district | of the Home Life Insurance Co. are Jeaving Washington today to attend the seventieth anniversary of the com- any which will be held in Quebec ‘ednesday and Thursday. The local delegation is headed by H. R. Bryarly and will be composed of R. C. Green of Winchester, Fred C. Wright of Hagerstown, J. Fred Laise, Paul P. Grove, jr., and Jules C. Ricker of Washington; Charles F. Keeler cf Winchester, F. Jordon of Charlestown, | W. Va, and R. T. Bryarly, in charge| of the Bryarly branch office in Win-| chester. | Heard in Financial District. The Riggs National Bank has pub- lished a condensed report of its condi- tion since the call of June 30, which shows that the institution’s total re- Sources now stand at $60,771,600. It is announced that the Investment Bullding Bonds, _which were sold through the F. H. Smith Co., have been called for redemption by the Contin- ental Life Insurance Co., owner of the building at Seventeenth and K streets northwest. at 102 and accured interest, on July 15. Many of these bonds are held locally. 14 and date of tax for CHRYSLER SHIPMENTS. NEW YORK, July 7 (#.—Chrysler- built automobiles shipped in June totaled 28,407 cars, or 67 per cent of shipments in June, 1929. The ship- ments this June, however, exceeded June 1928, shipments by more than 1,500 cars. Shipments in May this year totaled 40,644 cars. The report said that delive:ies to the public of Chrysler motor products are continuing to run better than 77 per cent of last year's retail sales, with dealers’ stocks 31 per cent lower than at this time last year. —_— larm clocks to be sold at 12 cents are being made in Germany, Notice—All stocks are sold In one hundred-share lots excepting those designated by the letter s NEW YORK STOCK EXCHANGE Direct to The Star Office. Received by Private Wire (658) which shows those llock to be Iold in odd lots only. Add 00, Bigh. Low. 22 Abitbi Pwr & 217 Adams Exp (1.60) 85% Adams Expr's pf (5) 1408 23 Adams Millis (2) 29% Addressograph (133) 8 Advance Rumley. ... 15% Advance Rumley pf. ' Ahumada Lead.. 114 Afr Reduction (3). 16 Alr Way T1 Apai). 1 Ajax Rubber. 412 Alaska Juneau 18 Allegheny Corp 232 Allled Ch & Dve, 481 Allis-Chalmers (3).. 18 Amerada Corp (2). . 4% Am Agricul Chem. 23 Am Agricul Chpf. .. Am Bank Note (13). Am Bosch Magneto. - Am Brake Shoe(2.40) £% Am Hrown Bov Elec. 4 108% Am Can (4).... °s¢h 274 264% 2691y 12415 141% 124% 106% 20% 447y 9% £y 29% 8274 8in 45, 13% 200 501s 124 42 Am Car & Fdy (6). 95 Am Car & Fdy pf(7). 39 Am Chain Co 3) 36% Am Chicle (t2%) & Am Comm Alcohol. 33's Am European Secur. « Am & Forn Power Am Hawaitan (110). Am Hide & Leather 28% Am Internati +2) 47% Am Locomotive (4). 98 Am Locomot pf (7). 180 Am Mach & Fdy (1) 41 Am Mach & Fy n w.i. 93 Am Mach & Metals. . 65 Am Nat Gas pf (7). 72% Am Pwr & Lt (31).. 80 Am P&Lt pf A st(5). 99 Am Pwr & Lt pf (6). 23% Am Ra&Std San 1%. 48 Am Rolling Mill(n2) 52s Am Safety Ras 467 Am Shipbuilding & Ret (4) 0l&Ch cv pf(3). teel Fdy 13) ... Am Sugar Ref (5). Am Tel & C 200% Am Tel & Teleg (9). 197 Am Tol 197 Am Tobaceo B (8). 120 Am Tobacco pf (6). 113 Am Type Fdry (8).. 78% Am Water Wks (n1) 99% Am Wat W 1st p£(6) 7% Am Woolen. Am Zinc pf (6). 44% Anaconda Cop (3%4) 19% Archer-Den-M (2). 74% Armour of Del pf(7). 4% Armour of 111 (A) 2% Armour of 11l (B) 6 Arnold Constabl 10 Artloom (1) 2415 Art Metal Con 8115 Asso Appl Ind (4) 28 Asso Dry G (2%) 194 Atch To & S Fe (10). 146'% Atl Coast Line (110) 10% Atl Refining (12). 2513 Atlas Stores (n1) 91 Auburn Auto (§4) Autosales . 4% Aviation Corp of Del 19% Baldwin Loco (1%). 104} Baldwin Loco pt (7) 98% Balto & Ohio (1).... 784 to & Ohio pf (4). 109 g & Aroos pf (7). 2019 nsdall. A (2). 49 Bayuk Cigar (3).... 671 Beatrice Cream (4). 3% Belding-Hemingway 27% Bendix Aviation (2). 31 Best&Co (2)...... 7o% Bethlenem Steel (6). 122 Bethlehem St pf (1) 28% Bohn Al & Brass (3) 60 Borden Co (k3). 23% Borg Warner (3 79 Boston & Maine (4 13'% Briggs Mfg Co. 58% Bklyn-Manhat (4).. 12's Brockway Motor Trk 115 Bklyn Union Gas (5) 7% Budd (EG) (1). &' Budd Wheel (1) 26! Bulova Watch (3) 29% Burr Add Mch (1) 294 Bush Termn! (2% 109% Bush T Bld pf (7) Callaahan Zine & Ld. Calumet&Hec(all). Canada Dry G A (5). 184% Canadian Pacific(10) 45% Can Pacific(new)w.i. 20 Cannon Mills (1.60). 1561 Case (J 1) (6)...... 54 Caterpiliar Trac 3% 9 Celotex Co. 231 Cent Aguirre A 434 Cerro de Pasco (6) 171 Ches & Ohlo (10)..., 51% Ches & Ohto Corp (3) 121 Chi M1l StP & 2013 Chi Mil StP & Pac pf 66 Chlcago & N W (5).. Chi R1& Pac (7)... 106 ChiR1& Pacof (7). 26 Chi Yellow Cab (3).. 20 Chickasah Cotton Oil Childs Co (2.40) Chrysler Corp (3). City Ice&F (k3 60) 85 City Ice&Fuel pf 6% 6% City Stores 98 CCCé&St & iron (2). & Bi 16% Colum Graph (a28c. 108 Columbian Carb (16 23% Comm Credit (2). ... 22 Comm Cred pf B (2). 2814 Comm Inv Trig1.60) 50 Com Inv T cv pf(e6) 20% Comm Solvents (21) 12% Comwlth & Sou(60c) 99 Cmwlith & Sou pf 16) 10's Conzoleum-Nairn 31 Congress Cigars ( 67 Consol Cgr pr pt 156% Consol Kilm +2 18 Consol Film pt (2).. 96% Consol Gas N Y (4). 9912 Consol Gas NY of (§) 49 Con RR Cub pf (6). 7 Consol Textile. 11% Container(A) (1.20). 1813 Contl Baking (A).... a%, Contl Baking (B) 5014 Contl Can (2% ) 164 Contl Diamond (2). 18% Contl Ol of Del Conti Shares (1 Prod Ref(14%) of (1) Cuban Amer Sugar. . 46 Cuban-Amer Sug pf. 484 Cudahy Packing (4) 1147 Curtis Publish p(7) 613 Curtiss Wright Corp 8% Curt Wright Corp A . 55 Cutler-Hammer(3%4) 24% Davison Chemical. . 21% Debenham's (a2.32). 20 Deere & Co pf (1.40). 146 Delaware & Hud (¥) 110% Del Lack & Wn (17). » Detroft Edison (8).. Olamond Mateh (8). 175% Eastman Kodak ( ) 19% Eaton Axle & 8 (3) 5 Eitington-Schil 55% Elec Auto Lite (6 106% El Auto-Lite pf (T).. 4 Electric Boat.. 49Y% Bl Pwr & Lt (1). 105 ©) Pwr & Lt pf (1).. 611 Elec Storage Bat (5) 5 EIk Horn Coal pf 44 Endicott John (b 39% Equit Office Bldg (3) 36\ ErileRR. 10% Eureka Cai 62 Evans Auto Loading. 34% Fairbanks Moras (3) 7% Fed Motor Tr (80a). L3 1 3 20 5 108 12 1 2 23 24 208 2514 24 871y 10015 44n 40 144 1 16 2 'S Melananons s mnaasBemem B 96 8 70- 1 40- Gfll 1 1 10 3 81 5 o Roo - poSacabasunmasoSan & 23 1 86 608 11 208 14 2 60 128 308 1 108 2 1 168 21 4 3 1 13 2074 24 4 145 35 1007% 113 100% 113 31 T0% 18% 199 103 19% 55 4 20% 23% 901 19% 194 106'2 106%; 1061 5 ] 46 40 190% 8 2% 71 9% 9714 l]s'm 1184 194 190% ¥ (285s) Prev. Close. Close. a0 5l 160'% 128 115 13% 41% 6% 42 26% 314 [llinols Central (7).. 4 Intl Agricultural. % Intl Cement (4)..... % Intl Tel & 8 4 Murray (bi% Stock and Divide Fid Pho Fire tone T&R( 2 Fisk Rubber 18t pf. . ¢ Fisk Rub 1st pf ev. . Foster Wheeler (2). Fox Film (A) (4). Freeport Tex un.. Fuller 2d pf (17.40). Gen Am Investors Gen Am Tnk &r(tl) Gen Asphalt (4) Bron Gen Cable 4 Gen Cigar pf (7). Gen Liectrie (1.60). . Gen Elec snec (§0c). Gen Food Corp (3). . Gen Gas&El A(e30). Gen G&El cv pf(6).. Gen Mills (3). .. Gen Milils pf (6) Gen Motors (43 Gen Motors pf wi (5 4 Gen Motors pf (6) Gen Motors pf (7) Gen Out Adv(A) (4). Gen PublicSve (b§). Gen Renltv & U] .. Gen Refractor(t4lg) Gen Theat Equip vte Gilletto Saf Raz(ns) Gimbel Bros. . Glidden Co (2) Gobel (Adolf) Gold Dust (2%) Goodrich (B F) Goodyear Tire (5) Goodyear 1st pf (7 ¢ Gotham Silk Hoslery Gould Coapler % Graham-Paige " Granby Con Min (3). Grand Silver S (m1). Grand Unlon. Grant (W T) (1), Grt North pf (5).... Grt North pf ot (5).. Gr Nor ctfs Ore (a% Grt West Sug(1.40). Grigsby Grunow.... 278 Hackensack W (1%) 20s Hackensk pf A(1%). 10s Hahn Dept Stores... 11 Hahn Dept S pf(6%) 2 Hall (WF) PrCo(2) 1 Hanna pf (new) (7). 100s Har WkrRuf 2%). 2 Hayes Body........ 3 Helme 4(} W) of (7). 108 Hercules Pow pf (7). 108 Hershey Choe (6)... 2 Hershey Choe pf (15) 2 Holland Fur (et2%). 1 Houdaille-H (B)1.20 3 Houston O11 (b10%) 50 Howe Sound (t4%4). 7 Hudson Motor (5)... 21 Hupp Motor Car (2). ES Independ Of1 & G(2). nd Motor Cycl Indian Refining. ... Indlan Refining rota. Indus Ray (b5% stk) Ingersoll-Rand (15). Insurance Sh (46e). . Insur etfs(Md) (60c) Interboro Rap Tran. (ntercontl Rubber. Interlake Iron (1) a~ = ~ Intl Bus Mach (n6). Intl Carriers. Ltd % . Intl Combustion Intl Comb Eng pf... Intl Harvester (23%) Int] Hydro E1 A (e3) Intl Mateh pf (4)... Intl Mer Marine (1). Intl Nickl of Can(1). Intl Pap & P (A)2.40. Int] Pap & Pwr (C).. Int] Pap&Pwr pf (7). Intl Print Ink of (6). Int Rys Cen A of (5) Intl Salt (new) Intl Shoe (3) ¢ Telex (2). Inter Dept Strs (2).. In ype Corp (2).. Investors Equity(2). Island Creek Coal(4) Jewel Tea (14). Johns-Manville (1).. Jones & Laugh pf(7) K CP&L 1st pf B(6). <arstadt (R) (1.03), r Jullus (23%4). v-Spring Tire... 3§ Kelly-Spring 8% pf. 40s Kelsey Hayes (2)... 2 Kelvinator Corp Kennecott Cop (3) 15 Kinney (GR ) pf (8) 200- Kolster Radlo. Kraft Ph Ch (1 'fi Kresge(SS)Co(1.60) Kress (S H) Co (p1). » o abRaBunnan~Ranmems uS2 2 Sonanla » e R ST n = 108 Kroger Gr&Rak(n1). Lago Of] & Tran Lambert Co (8). Lee Rubber & Tire. . Leh Port Cem (234). Lehigh Valley(t434) Lehman Corp (3). Lehn & Fink (3).. 2 Lige & Myers B('I). 14 Lima Locomotive... 1 Liquid Carbonio (4). Loew’s. Ine (3) Loft Inc. Lorillard Loulsiana Ofl. ... Louis & Nash 17)-.- Ludlum Steel (2)..01 4 McGraw-Hill (2). McKeespt T P1 (16).. McKesson & Hob +2) McLellan S pf A (8). Mack Trucks «6) Mackay Cos pt (4) cy (RH)&Co (nt3) adison Sa G (1%4). Mallison & Co. Man Elev mod Man Shirt (2)..... . Marmon Mot (h50¢) . Marshall Field (2%) Mathieson Alkil 12). May Dept Strs (n2).. Mengel Co (2).. Mexican Seaboard Miam} Copper (4)... Mid-Cont Petm (2).. Midale States Ofl o Midland Steel pf (8). Minn Moline Pwr Minn Moline pf(6%) Mohawk Carpet. ... Mo Kan & Tex (1)... Mo Kan & Tex pf(7). Missouri Pacifie. . ... Missouri Pac pt (5).. Montgom Ward (3 Morrell & Co (4.40 Mother Lode (20¢) Mullins Mfg. o 2 SeaanmanBeleronn oemBanss Nash Moters Natl Biscult. n(2.30) Natl Cash Reg.A(14) Natl Dairy (12)..... Natl Dept Stores (2) Natl Lead 118) Natl Pwr & Lt Natl Supply (5 Natl Tea Co (2). ada Copper (1%) Tex & Mex (7)., Newton Steel (2).... N ¥ Alrbrake (3.60). N Y Centrai (8). N ¥ Invest (1.20 NYNH& N Y Ont & Western. . N Y State Rwys pf.. 408 N Y Steam pf 16)... 20s Noif & Western (10) 2 North Am Aviation.. 15 North Am(b10% stk) 492 North Amer pf (3).. No Ger Lloyd (3.43). « Northern Pacific (5). 1 North Pacific ct (5). Norwalk Tire & Rub Oltver Farm Equip. . Oliv Fr Eq pf A (6).. Omnibus Corp. Oppenhm Collins (5) Orpheum Cir pf (8). 408 Otis Elev n(2%). 18 Qtis Eley of (). a0s 2 59% 126 25 (Continued on Page 14) & 7 s, D) IONDAY. .t 126 » 27% 26% BEARS HOLD SWAY | ON STOCK MARKET Emphatic Downturn Follows | Long Holiday—Trading in Light Volume. By the Associated Press. NEW YORK, July 7——On]v the bears semed to have gained any strength from | the triple holiday as trading in stocks was resumed today. The uncertain trends of last week gave way to an emphatic downturn. Important shares | generally sold off 3 points or more. | Trading. however, was in light volume, although nearly twice as active as dur- ing the closing sessions of last week, wben the market was close to a stand- still. Speculators for the decline were cau- tious last week, not knowing what bull- ish development might appear during the three-day suspension, but news over the week end contained nothing di concerting to the short interest. though nothing but reports of Summer slackening of activity might be ex- pected. some more long holders of stocks appeared finally to have grown dis- couraged and there was a considerable accumulation of selling orders at the opening. Urge Stock Accumulation. Several commission houses continued to urge accumulation of stocks for in- vestment, but it is generally acknowl- edged that the near future, at least, re- mains uncertain. The fact has been stressed in some quarters that the aver- age yield of leading stocks has now ex- ceeded the commercial paper rate by more than 1 per cent, which has been regarded in the past as an indication | that the market has reached a buying state. ‘The average yield of 90 issues used in the Standard Statistics averages, is now | 1,.,) in excess aof 412 per cent, while com- American corsets. As a measure of relief to our employees, The Union Trust Company will close during July and August at 12:00 o'clock noon on Saturdays, and at 3:00 o'clock p.m. during the week, with the ex- ception of the fifteenth and the last day of the month when it will remain open until 5:00 o'clock p.m. To the Holders of Bonds Sold Through The F. H. Smith Company Bondholders in Washington and vicinity may ob- tain information concerning their holdings at the office of the Assistant Secretary of the Undersigned Committee, Room 401, Building, 1331 G Street N Committee for the Protection of the Holders of Bonds Sold Through The F. H. Smith Company George E. Roosevelt, Chairman B. L. Allen James L. Malcolm Charles D. Newton Equitable Co-operative Bldg. Ass'n Subnnphon for lhe 99!11 Issue of Stock Being Received Cultivate Thrift! A week gone by without something put away is a week wasted. | tion. mercial paper is mmtly moving at 3%. Investment buying, however, rarely makes the trend of the market, and the reinvestment demand from the mid- year interest and dividend payments has been distinctly disappointing. The midyear settlement period was reflected by another tightening of call money today, which renewed at 2 per cent, and mounted to 2';, then 3. The ef- fects of a settlement date are some- times not felt until about a week later, | particularly when a holiday intervenes to delay the return of checks. Further- more, lenders who placed funds in the market for a payment over the week | end did not find the renewal rate of 2| per cent very attractive. Commodity Decline. Several commodities _declined recl- procally with stocks. Wheat dropped more than 2 cents, getting down to_the neighborhood of its recent lows. The day's news contained several chain store sales reports, most of which | showed moderate declines from June| of last vear, when changes in the num- | ber of stores were taken into considera- | It is notable, however, that retail trade generally has been holding up much better than industrial activity. Chrysler shipments in June were re- ported at 28407 cars, against 40,644 in May. Among the widely moving issues, In- gersoll Rand, Allied Chemical and Case lost 8 to 12 points. Air Reduction, Gil- lette and Safeway Stores declined 5 points or more tonew low ground, and | du Pont also reached a new minimum. | United States Steel, North American, Westinghouse Electric and Eastman lost 4 to 5, and shares like American Telephone, Atchison, Chesapeake Cor- poration, Consolidated Gas, American Can and International Harvester sagged 3 or more. A better tone appeared by early afternoon, and Steel and a few others rallied a point or so. Selling pressure was again applied energetically in the last hour, driving down North American more than 6 points o & new low for the year. Per- sistent selling of American Telephone, American Can, U. S. Steel and West- inghouse Electric had a disturbing ef-| fect on sentiment. The close was weak Sales approximated 1,600,000 shares. ‘Women of Colombia are still wearing Second National Bank \.W. 50th YEAR COMPLETED WALTER S. PRATT, Jr,, Secretary Surplus & Profits $1,755,911.57 Come in and let us explain REAL ESTATE LOANS TYLER & RUTHERFORD iy _on ISZOKSLNW Made at Low Interest Rates Srqperties. N-lunl 0475 Specializing in Established Business Investments JAMES Y, PENNEBAKER Nat. 5291 1520 K St. N.W. National Metropolitan Bank 1814—Olidest National Bank in the D 15th St., Opposite U. Why Be Bothered —with thoughts of busi- ness, when you leave town for the Summer? “The service of OUR TRUST DEPT. will en- able you to leave every routine detail behind. “Make arrangements to this end now, so you can really enjoy vaca- tion this year. 3%, on Savings istrict of Columbia—1930 S. Treasury our plan of systematic saving! BLRST Over a Third of a Century Without a Loss National 2100 THERE DON'T INVEST INDISCRIMINATINGLY Be guided by facts, not swayed by emotion—judge by the security offered—that’s the fundamental thing. Our 6% FIRST MORTGAGES have been a favorite channel for investment for over a third of a century, single investor. May be purchased in amounts from $250 up. B. F. SAUL CO. IS NO SUBSTITUTE FOR SAFETY MORTGAGES and without loss to a 925 15th St. N.W. We are pleased to that announce Mr. Harold R. Smoot has today become associated with us in our Washington office. HARRIMAN Members New York Stock Exchange & CO. Office 729 15th Street Phone Natl. 1603 We invite applications for First Mort Loans ar on residences and land suburbs. .. privileges,Three ye: on newer properties with- out amortization. o H. L. Rust Company 1001 Fifteenth Street ESTABLISHED 1889 Loan Corrvespondent for “The Prudential® 3% buildings in the District of Columbia and nearby Mary- Costs, Long Term (if de- sired), Valuable prepayment gage business Lower ars loans National 8100 STATEMENT OF JUNE 30, 1930, SHOWS Capital Funds $63 ASSETS ,879,343.63 Cashon Handand inBanks § 5,770,234.13 Demand Loans Secured by Colltessll: o ... ... U. 8. Gov't. Bonds and other Marketable Securities . . ... Bonds and Mortgages . . . . Investments . . & Net Interest Due and Accmed . Accounts Receivabee . . , . 4,411,039.40 18,500,000.00 $28,682,173.53 15,315,241.85 19,875,991.73 2,287,128.64 1,490,365.52 LIABILITIES Capitzl CIA rplus . . ¢ Undmdcd Profits . . Premiums and Fees Prepaid . . Mortgages Sold, not Delivered . Agency Accounts . . ., . . . $20,000,000.00 «30,000,000.00 . 13,879,343.63 TITLE AND MORTGAGE COMPANY 1425 Eye Street, N.W. Washington, D. C. Tisle Insurince anywhere in the United States