Evening Star Newspaper, July 8, 1930, Page 11

FINANCIAL. WHEAT HAS RALLY Crop Damage Reports Lift Values After Early Drop. CHICAGO, July 8 (P~ crop reports from the Northwest West, together with broadening of ex- port demand, led to a material advance in wheat prices late today. News of to wheat covered big sections of territory all the way between Canada and Nebraska, and estimates were current that ex business in FINANCIA D. €., TUESDAY, JULY 8, 1930. Reccived by Private Wire "TRADING IS SLACK || NEW YORK CURB MARKET %= =r-- ||BROKERS UPHOLD | N CURB EXCHANGE PSR RS R B MAR@N_IIEAUNG STOCK AND BOND AVERAGES By the Associafed Press. Prom Yesterday's 5:30 Edition. Previous day Week ago. Year ago Two years Lew. Close. ™o Some Price Adanvces Scored Around Midday—Other «|Action of One Firm Barring Such Trading Finds No 4 Kirby Petroleum. P K16 (B)pt pf (3120 15% 8% Allled Mills . ° 21: 210 Aluminum Co of A Shares Go Lower. BY JOHN A. CRONE. @peelel Dispatch to The 3 NEW YORK, July 8.—Further unfav- orable trade and financial news eaused the Curb Exchange to open dull and lower today. Although slackened dealings continued, some pricé improve- ment in a few of t:.e leading issues took place around midday. Public utilities, such as Electric Bond & Share, Associated Gas & Flectric, and American Superpower were the first to improve, but they failed to re- 14in all of their gains. ~OCities Service opéned slightly lower and held around A8 inftial level. International Utilities Sag. British selling again created imnx- larity in some international utilities. Buch selling showed in Utilties Power & Light B, down.3%, International Sus perpower Off 13, and Brazilian Light g Traction, which was fractionally wer. Pittsburgh & Lake Erie Railroad was the bright spot in the rails as it jlm'lgd 6 points on A& sale of 50 shares, is road stands to benefit from im. provement that may takeé place the ateel industry. Petroleum and pipe line shares were not without their early weak spots. In- dian Territory Illuminating A and B shares at 26% and 27, n-seounly. registered record lows. Eureka Pipe Line at 41 equaled its previous minimum level. TIllinois Pipe Line, which had not appeared on the tapé in more than six weeks, as 95 per cent of this stock has been exchanged for Ohio Ofl, sold at 303, down 4 points at a new bottom quotation. Investment Trusts Irregular. Investment trusts and trading cor- Pporstions moved in an irregular manner until some of the leading issues tumbled to new low prices, when the movement downward bécame more uniform. Trans- lmneficn at 28, off %, was at & new low ma; OChain stores development reflécted the irregularity of that group following publication of Jurnie sales and six months earnings of some leading chains. ‘Thermoid Co. préferred, perhaps fore- jon of the common . Mangel tores Omgnmm eferred declined 2 points. feway Store option war- - rants, mitroring the softness of the common over on the big board, toppled 8 points. BONDS ON THE CURB MARKET. R Caterpil I 38 3 Cent Btat Elé¢ bs '48 Gent Bt P&L 31g8 '53 Childs Co 58 '43. Cig Stz Re 5% is Elties T S ¢ Ber Gas P 41a8 b 6%$ ow é ”" . g8k 4 881 s 55 3 i3 10; 12394 101 t i 6138 X t Iier Bras 75,8 Az dn A 203 8013 9013 Qas 3455, a 3 S e Aid West Uril b6 suiie G'a £ 4 07 Minn B & L 47 1 »na‘m %I' S 3 ov 1’" iver pet Mo pac & R 85 ‘80 #1100 ° 14 Mont L Morr! Co 1 Narraganseit 325585 3nesSsges 93 i 18 3 w &7W 6s 48 953 d s B 50 pera xw 10233 ! °52 {3:‘, Peop 310 _ww 17% Phila Elec 58 12 11 Qunsb Gas 5'%s A Roch Cen 5 ,..oe ; cS533eneus 3 &% 38 22222823 233 17 Wabash ¢ % 2 Wash W & Po 5s 6 4 Webster Myl 8'as ‘33 3 West Tex 75 ezze3osizae 95 w v 83 | 2 85% 85% *®—With warraits IW_Without warrants, a7 8813 356 109! 24% 993 Y 106% Alu Co of Am pf (6) 1 Alumn Goods (1.20). 99% Alum Ltd cu pf(new) #% Am British & Cont. 7 Am Capital pf (B)... 124 Am CP&L( 21% Am Com I % o R Rl L S e Am DT, NJ v pf(7) 34% Am For Pwr(war) 04 Am Gas & Eles (31). 7% Am Invest. ine (B).. b2% Am Lt & Trae (2%). 28% Am Lt&Tracpt (1%) 20% Am Supérpwr (1)... 94% Am Sperpwr 18t (6). 111% Am TobaeB(new)w.i % Am U&Gen B vic 400 6 Anchor PF (b10%). - Asso Tel Util (b8%). % At 10 Aus Uil Corp. 4% Auto Musio A(11.05) 7% Aviation Seeurities. lue Ridy D 11% Bower Rollér Bear. . Hb% Brasil Tract & Lt 32. 21 Brown F&W (A)2.40 2 Bureo, ine (war) 89 Burce, Ine, ev pf (1), 2% Burma Corp (181¢).. 8 Bwana M Kubwi % Cable&Wire (B) rets 8% Canada Marco [ T OTOTOR - P U P 2 72 Cent Sta El pf(6)xw. 2% Chain Stores Dev. 17% Chat Ph Al n-v(80c). 17% Chem Nat Asso mev. 434 City Sav B, Ltd (2.9, # Cities Service(33 B . L LY 8% Col Oil & Gas vte. 85% Colum Ple v.t.e $1%. Con Retall Strs (1).. Contl Chicago Corp Cont Chi Cp cv pf(3). Cord Corp Corroou & Reynolds. Cor & Rey pf (A)(6). Cosden Oil. [ 15 W & Cuban Canié pr opt w 84 Cuneo Prmn‘x’-“"" De Forest Radie. DeHav.Alf itd fet 50¢ Detroit Alreraft. ... Doehler Die Casting. Douglas Alr (76¢). Dow Chemical (2). Duke Power (35)... . urant Metor! Duval Tex Bul w.d... Eastn Sta Pwr B(1). Bastn Util Assn (3) Eastn Utll Asso ev. Eastn Utl lav (A). Hisler Belectric(1%) 117% 104 Bf & 8h (b). . 109% 108% Bi Borid & Sb pt (6) 94 924 Ki Bond&Sha cu pf(§ i9 Elec Pwr As30(1).. Eles Pwr & L op war Elee Pwr & Lt pf (6). % Ele¢ Shareholdg(31) El Sharehold pf (§) Etmpire Fire ins. Emp Pub 8y A(1.80) Eureka Pipe L (4).. Europ B, Ltd A(60¢c) Kure Eiee deb r Ex.Cello AMr&T (80c) Fiat Stock debrts. .. Florida P&Lt pf (7). Fokker Alrcraft.... Foltis Fiseher Corp. . Ford Mot, Can A t1% Ford Mot,Can, B t1% Fera Mor,Ltd. 37%e. Fox Theater Cl (A). Gen Alloys (80¢) 2 15 200 po 4 101 B B OB - N B KB B i ® @ 000t 1088 008 D a0 @ - EYTIMOPDATeR- 4 9 3% Gold Coin (new). e Gr A &P Tea of (7)., GtLakes DC (new). 4 26 104% Gro¢ Stores Prod vie 2 Guif Ollaf Pac1%). 1% ) (2). Houston Ol] of Texas Hudson Bay M & Hygrade Food Prod. 111 Pipe Line (20) Lmp Oli. Can. n(boe). 4 Imp Tob GB&1(1%). ind Terr Lllu 01 (A) ind Terr I1lu O1l (B) ind #in ctfs(b10%). Insull Util Inv tb9% ins Co. No Am (13) insurance See(1.40. intercontinent Pe! 4 Intereont Pow A (1), Intl Cigar Mach (6 inti Petroleum (1) Intl Superpwr($1).. k) 308 196 108 117% 107 18 9% 16 2% ) % Mtg F1 110 Petrol Rossia’ % 5% Sha 1% South C¢ 23 2% W 195 1% 26 10% 118% 1% 3% 274 “ 196 117% 26 104 1204 1% 3% 28 e inanee v. Maro Int M (523e) Marine Mia (1.20) Mavis Bottling. Meémphis Nat Gas Natl PwraLt Nat 8h Trm Neptunie Meter (2).. New Eng Pwr pf (6) NJ Zine (1234)..0.0. Newmont Min (34).. 7 N Y Rio&B! . N Y Tel of (6%) % Niag H Pwrn (40¢). Niag Hud Pwr.A war Niles-Bem-P (4 Noranda Min Noth Eure Oll Corp, , Ohto Copper. . Ohio Ofl (4) . Okla Gas & Outbd Mot(A)(1.80). Outboard Métor (B). 4 Pac Pub Sve (1.30).. [ Peoples LEP, A a2.40 % Corp war. Plerce Gov (1%).... Pitney B P, n (20¢).. Pitts & Lake Erie(5) Plymouth Of (2). ... Pratt&Lambert(15). Prince & Whitely 1., Prinoe & Whit pf(3) Prudential Invest... Pure Oil pt (8) Rainbow Lu Pr:: A, s Lt&P(92¢) Safety Car HAL Safeway St war bth.. St Resis Paper (1).. Salt Creek Prod (2).. Saxet Co.... Schulte Un 6c-31 § Seaboard Util (50¢) . Seiberling Rubber... 5% Selested Industries. 64 Selindallotefs 5%, ttuek Den Min. .. Shenan Corv pf (a3 80 Snerwin Will (14%).15 ORSt. ... ii0e 8o Col Pwr (A) (2).. 4% Southern . 9 Southland Roy (1).. 3% 8 W Dairy Products. % Spanish & G 50 Spigel M: 16 Stand Holding Corp.. % Standard Motors. 47% Stand Oil, Ind ¢3 30% Stand OfL, K (11, 44% Stand OlL Neb. Starrett Corp. 28 Swift & Con 18% Taggart Corp (1)...- 844 Tampa Eieetrie (2 25% Technicolor. Tri Ut Tung 8ol vidend rates 1n do Lion Ol Refin (2)... Loew's, 1ne (war). .. Lone Star Gas. n (1), Long 1sid Lt pf (1).. Louisfana Lan & Ex. Magdalena Synd.... Mangel Strs pf(6%). .ot Mid 8ts Pet v.t.c. Mid Sts Pet v.te. B.. Mid W Sts Ut (1%).. Mia Wat Mid R Util(b8% ). 2) ns Mo Kan P L (b10%). Moh HP 1st pf ¢7).. Mountaln&Gulf(se). Natl Amer Co Gas (1)..0 tors . f (6) . 260, eA 350 : 0 Alres, o Sea .1 pt (7). NurBunsnan vom o @ (T w3 SranmReaTan Corp. PR - Corp. . PECO) D e T T - A e I N e L] 1 Lamp (1)« Ungérielder ¥ Corp.. Union Am invest.... United Corp (war).. Unitt Dry Deex: w) United Gas (war)... United Gas pf (1 td Lt & Pwr U 8 Elé¢ Pwr (war). U8 Foll (B) (1)...0 U 8 Gypsum (1.60)... U S&Intl Sec 1st (5). U S Lines pf (1)..... U S & Overseas war.. U 8 Radiator (2).... Unit Verde Ext (3).. Ulity Pwr&Lt(al). Utll P&L B étfs (a1) Utility & 1nd........ Vacuum Of] (1434 ).. Van Camp Packing. . Van Camp Pkg Venezuela Petroim. . Walker (H) (1)..... Westn Alr Exp(60c) Expire. 028 4 W% W based on last quarterly extra in stock. & Pasable in or semi- 1y extr 1 : P) 3% canh oc sioek 'k Pavable 1o stock. d Fayenie In brefarred sock. Rail Stocks (This is the hirteenth series of wiaf anelytes SBUEERYE o, *rihes on railroad securitiés. The intént is 0 récom chase or lar stock, But to #ive the Invi riter fio ation as may enble him sugh info! teiligently to chart his own course.) Chicago and Northwestern. As to the investment quality of the bonds of Chicago & Northwestern there can be no dispute. Al of its fixed charge securities are high grade and all of them sell to yleld less than § per cent. They are affected in market price with one exception only by the prevail- ing rate for money. Theoretically with credit as sy fl:a it |ne now they ought to be in a s0me. The one exception is the 435 per cent Septerber, “Bocausé 1bis bond 1s con- September. - Vertible on and after July 1 of this yesr into common stock at 105 1t adds to a genuine investment rating -tpec\lhtlvn possibilities. The market price of the stock at present is so far below the con- version entirel, &nflm ediate return, but if and wi mmrfle@vflv “bmd will corres ‘ance. -n;n’&'a'nmn:g:ot Chicago & Northwestern is also a sound invest- ment. It pa r cent and has an rH 10 3 per cent and after 10 per cent on both classes they share in any further distribution. Under this ar- that the bond sells| ders rangement preferred stockholders re- celved $8 in 1919, Of course there is no prospect of an: thing like that at present, but the mi ket looks a long way ahead and re- fieots in the the chance that someé day the preferred will receive a larger dividend than it does n ‘When we come to Chicago & Northwestern com- mon we are faced with a falling off in e.rnlnf- which this road in common with all other carriers in this territory has experienced. Traffic has been de- creasing steadily since last Autumn and earnings are _down cmnspondlllgll Gross for the first four months of the year was the lowest in more than 10 years and at the present tate the margin over the $5 dividend is none too large. The future depends upon a recovery in car loadings and that in turn upon the crop situation and prices for agricultural products. Under present circumstances the common stock is semi- lative and commitments in it should be made only on that understanding. 1In the latest consolidation plan of the Interstate Commerce Commission the Nmm?n 151 zlne‘e‘ab-c the head v: & syst clude Mobile & Ohlo & the Chicago and Eastern Illinois. 1%0 1 18 NOW a part of the Southern way System and the latter is un- tood t0 be in control of the Van Sweringens. It will be a long time be- fore W situation is worked out and it not figure in any analysis of the it of Northwestern stock. ——— PLAN STOCK ISSUE. NEW YORK, July 8 (#).—8Stockhold* ers of the North nu’m Mining Co. have authorized the issuance of 500,000 new m shares, to Be offered to hol COMMODITY PRICES DECLINE SLIGHTLY A decline of three-tenths of 1 per cent 18 shown by the wholesale price index of the National Fertilizer Asso- clation for the week ended July 5. Four muw declined and three ad- vanced slightly. Of the total items 20 declined and 17 advanced. The er declines occurréd in foods other than fats, metals, coffee, rubber and cotton. Recoveries were noted in wheat, corn and hogs. Based on 1926-1928 as 100 and on 476 quotations, the index stood at 86.8 for the week ended July 5, 87.1 for July 28, and 87.8 for June 21. PRODUCE EXCHANGE. NEW YORK, July 8 (Special).—In a slightly more active session than in the past_week or 10 days, security trading on the Produce Exchange today re- vealed a mixed tendency in Monday's total of less than shares traded was exceeded by 5,000 shares. Saranac Pulp at Z.n Househoia ‘310 wete 'Sghily. B Housel 4 W 3 Detroit and Canada Tunnel at 6, Phan- Ofl at 20% and Irving Trust at . Lautafo Nitrate a lor at 73 were un- prices. 15,000 boi TREASURY CERTIFICATES. (] rted J. & W, Se n & Oo, R T g B % | éven at that prices plunged so 4 | street maintains that professional trad- Followers. By _the Associated Press. NEW YORK, July 8.—Afnouncement that one of the oldest Wall Street brokerage houses has decided to aban- don the handling of marginal accounts once more turns the spotlight on this highly controversial aspect of security trading. In these lean days upon which Wall Street has fallen a canvass of & num- ber of leading brokers disclosed an em- phatic unlnlg‘nlty of opinion that the announcement of Harvey Fisk & Sons Tepresented purely an individual situa- tion and could not be regarded as in the nature of a precedent likely to be widely followed. Marginal trading constitutes about 80 per cent of the volume of activity on the floor of @ Stock Exchange, and | probably more in very active markets. A partner in a large éommission house sald you might #s well padlock_the | Sale financial ‘district from Maiden Lane south as to abandon marginal trading altogether. & Margin Accounts Troublesome. expensive aspects of brokerage bus- iness and there is a feeling in commis- sion house circles that any firm with a well established investment business and a small number of trading accounts might profit by giving up the trading accounts altogether, particularly at this gloomy period, when expansion of & small trading business to profitable pro- portions seems out of the question. ‘The house’ of Harvey Fisk & Sons dates back to Olvil War times and for years has leaned toward investment business. Fot some time it was a lead- ing dealer in Government securities. It has not been a leader in late years in volume of stock trading handled. lwumlefl\;v‘lell strzle";. llu firm 'l‘n its con- viction marg| securfty tradin, or holding is an Cn?'.hl SS. ngl any important capital market, there has been considerable modification of opinion as to who should trade on margin, particularly since the unpleas- ant_experiences of last Autumn. There has been a& general tighten- ing up of requirements. Few indeed are the houses t will carry less than 20 shares on ma: and an increasing number will not accept orders for less than round lots of 100 snares for mar- ginal accounts. | Tighten Up on Holdings. A few years ago houses that dealt with the general public would earry simost any number of shares, but évén before the Autumn crash the tightening up %:Jeeu had made important progress. e great bull markey of 1926-29 at- tracted a horde of speculators from all over the euntry who had had mo pre- vious experience with the market and this head-over-heels rush of the inno- cent into the market wa§ making con- setvative houses rather nervous. Marginal requirements were pushed up. Most houses were requiring from one-third to one-half the purchase price of the stock when the crash eame, but swiftly that margins were quickly wiped out and traders were out. small traders had heeded warnings to maintain reserves of cash, Brokers found themselves in endless controver- sles with customers who asserted they were not given amplé time to put up more margin or that they were £old out without warning. It was an extremely mxg;-;n;kt and :nprofltuulle isode for rokers who special Sccotinte. pec in small The more daring of the smail 1 rushed back int:'tlu market :‘::a’: #s they could scare up enough cash, in desperate efforts to regain their losses. There was a feeling that the market was well deflated, and several houses felt justified in reducing marginal re- quirements to 34 of the purchase price Then came the new crash in the mar- ket this Spring. While the general pub- lic was not a-farge loser At that tim-, there was further necessitous selling out of accounts of traders who had taken long chances in efforts to recoup their Afitumn losses, and again it was an un- flemnc affair for brokers with many light-weight margin customers, Asking 50 Per Cent Margin. Some commission houses are now tell- ing their customers that they should maintain at least 50 per cent of their funds in cash if they want to trade on margin, Furthermore, there is & tendency to check up on the financial standing and general reputation of pro- spective customers. Heretofore, cash in hand was the only admission ticket needed. A few houses will no longer accept accounts from women, 4s & re- sult of some unpleasant displays of temperament. When it looked as t! h stocks could do nothing but go up, tl broker seemed to be éverybody's friend, but the minute the tide turned his trou- bles began, and he has decided it pays to be somewhat discriminating. So far as the general principle of marginal trading is concerned, Wall ers and dealers in securities perform an important economic function in making a free and active market for capital and that their use of credit should not be restricted any more than that of dealers in or producers of staple com- modities or manufactured products. It is also maintained that the small trader or investor is justified in borrowing against stock or bonds, or holding them on margin, which amounts to the same thing, provided he is able to assume the risk, as the householder may mort- e his home to help himself over a fe‘ n period, to hold it for appreciation, or spread out the period in which he proposes to pay for it. Wall street is roud of the fact that not 1 cent has Been 108t 16 & lender in the call loan market, while the sad experiences in ate and other types of loans at_various periods in modern economic history are only too well known, COTTON DECLINES Acreage Figure Expectations Have Early Bearish Effect. NEW YORK, July 8 (#).—Cotton opened barely steady today at a de- cline of 8 to 18 points un more or less general selling, which was attribs uted to expéctations of comparatively large acreage figures from the Depart- ment of Agricultufe at midday snd the relatively easy fuling of Liverpool. After selling off to 12.99 fs July and 12.67 for the new October, or about 12 to 18 points net lower, the market steadied up a few points on trade buy~ ing and covering. Notices estimated at abotit 17,200 bales were issued against July contracts here this morning and may have accounted for some of the early selling in that position. Another private crop report was published, in- dicating a decrease per acreage and placing the condition at 69.9, compared with 70.9 last year. Live 1 cables reported a general dis« inclination to operate in that market pending the acreage report, but said there had been some Continental and Bombay selling. P RAW SILK IRREGULAR. NEW YORK, July 8 (CP.A) (Spe- cial). —Raw silk futures opened un- range Jower to 1 cent her. The Japanese markets were ightly better, with Yokohama futures to 7 higher and Kobe 10 lower to 6 higher, which brought in & little sup- port from the trade, . 3 4 Not many Three years High (1930) Low (1936) (1929)..... * New 1930 high. (Copyright. 1930, Standard Statistics Co.) CHICAGO STOCK MARKET cm‘gnw. Joh ms;rz.w s the complete_ official nsactions stocks on the Chicago Stock Exchange KS. o High. Low. Clgpe. .8 , 30%3 30% g | 10% # S s 3 10 10% i B EEIEE S S S TR SRR & G & - S8 oy e R b3 03 IR B! LT Zagk S SaE a2, ussde au &R FES Pow Pub Serv pi.. 100 Nat Rep Inv 200 Not Secur Inv 200 Nat Secur Inv 300 Nat Standard 100 N 0 at Ui 100 Noblitt-Sparks 400 Nor Am @ & 50 Nor Am L & Po 300 No West Bancors & LBas{usest s 0s . 2385 BRNEESSA82 2L FoaaEe & 0B 28558 400 Vortex Cup *A 100 Wahl 2 7 West 'L & Te Wentark Radio. 0B o # toc! Bond s 5000 Cont 1000 Pelm 1001 9812 fa 96 o REALTY EXCHANGE. NEW YORK, July 8 (C.P.A. Special). —Real estate securitiés ranged aufi:fly lower in h‘ldl.n‘ today. Harriman Building 6s at 99% were unchanged, Lincoln_Hotel 6%s at 95 were off 2%4 ts, Pennsylvania Motel és at 93, oft , and Savoy Plaza 6s at 95, off 1., ent Garage stock dropped Y to 25% and United Realty stock was unchanged at 124, Sales totaled $7,000 bonds and 200 shares of stock. INVESTMENT TRIJSTS NEW YORK, July 8 (#).—Over-the- counter market: 4 Am Tns Stocks B, Ange 10% Assoc Stand Ofi " Shares Am & Gen Securitles, Cors hin g, Sem el SV G Yoot T R A BlyeRsified “Trus Bhar i B c Eirst, Amer ' Gor Figed Trust Shar o B .. . B Bhiied N Uéollnfl ) v erl Washington Produce Butter—One-pound prints, 361583714 ; tuk, 34,8353, Eggs—Hennery, 23a24; ceipts, 21a22, Poultry, alive—Spring broilers, large, 35a36; medium and small, 25a27; Leg- 13a14. Dressed, in iced—Spring d 2“"pm and small, 25a current re- ducks, 23a: Meats, fresh 18a21; 15a18; lamb, 25; pork loins, 25a fresh hams, 25; fresh shoulders, 18a20; smoked hams, 27; smoked shoul- ders, 20; bacon, 27; lard. in packages, Live stock—Calves, 9a9'z; lambs, ; in bul Pruits— veal, 28 per quart, Vegetables—Potatoes, 3.25a3.50; to- matoes, home-grown, bushel baskets, 2.0083.00; lugs, 95a1.1 H ”m 1.00a1.25; lima 1.5082.00; okra, 2.0082.25; kale, 175a1.00; spinach, 1.00; lettuce, Ne York, 1.0081.25; corn, 1.0081.25; cabbage, bunches, buriches, 3.0084. DRILLING 18 STARTED. CHICAGO, July 8 (#)—The Missouri- Kansas Pipe Line Co. has started drill- ing and deve! it itions in the Texas Panhandle and Huy, ares in Southwestern of the company said the move was to assure an ample flow of gas before com- pletion of the cross-ce Iine which is to carry natural gas.to various cities in Missouri, Illinois and Indiama. Six drilling in Texas and eight -l RUBBER IS LOWER. NEW YORK, July 8 (Special Crude rubber, smoked Fibbed Shccin was , Was marked down cent &t today’s noon Quotation of 11% cents. This com- g;m with 123 cents 4 month ago and cents & year ago. Meney on Hand to Loa: First Deed of Trust 6% Interest Reasonable Commission and Prompt lies to JAMES F. SHEA 643 Louisiana Ave. N.W. 6% LOANS ON HOMES and Business Property Run for 5 Years Without Curtailment Wm. H. Saunders Co., Inc. Founded 1887 District 1016 1519 K Loan Correspondent for the Provident Mutual Life Insurance Company of Philadelphia Money to Loan on Real Estate District of Columbia or Maryland 547 & 6 Promge Decision on ANl 1435 K St. N.W. National 2345 Over 30 years’ suc- cessful handling of rents—economical con- sideration for owners. Personal attention to details and prompt remittances. Also facilities for financin port the last 48 hours had amounted to more than 2 000 bushels. Moore & Hill, Inc. (Since 1900 730 17th Street n 2,000 . Hot muggy weather jdaal for the spread of black rust had much to do with hoisting the market after an early tumble to new low price depths. ‘Wheat firm, aldg & bushel hl,lur than yesterd: 3 closed %a1' up, osts ni{ ad- and provisions unchanged to & 3% ki 8% 3 Fi) b pandatnotes-tuind R EXCHANGE PAYS DIVIDEND. MARTINSBURG, W. Va. July 8 (Special) —A 1 per cent dividend, ranging in amount from a few cents to $1,000, was being_distributed to Martinsburg exchange ing and rebates any surplus. PRODUCE QUOTATIONS. NEW YORK, July 8 (#).—Flour weak: changed. Responsible Corporation desires to invest Dusiness $100,000. Address Box 389-A Star Office Mortgage Money for 6% BUILDING LOANS or IMPROVED PROPERTY Reasonable Rates Prompt Action | B. F. SAUL CO. 928 15th St. Nat'l 2100 1 WILL SELL (All or Any Part) $25,000 WARDMAN REALTY - and CONSTRUCTION 6142% DEBENTURE BONDS Due 1938 AT 72V, (To Yield 12.35%) THOMAS L. HUME 1412 G Street. Nat. 1346-1347 MONEY FOR A W oRrLD CRUISE Small Savings Assure It! AS ljttle as $16.25 invested monthly you $2500 cash In exactly 120 -cnlbv—::fl‘ for an all- expense cruisel F " - S adopted by 175,000 INVESTORS o 0 0 0 e —— Send boockiet, “Enley Money," to = Nemeciainene INVEsTofig SYNDICATE FOUNDED18%