Evening Star Newspaper, July 10, 1930, Page 13

ANCIAL. THE EVENI -STORE SALES DROP IN FIFTH DISTRICT June Turnover 5 Per Cent| Lower Than Year Ago, Re- serve Board Reports. BY EDWARD C. STONE. Department store sales in the fifth excepting those designated by the letter s (658) NEW YORK STOCK EXCHANGE Received by Private Wire Direct o The Star Office. - — Notice—All stocks are sold In one hundred-share lots which shows those stocks to be sold in odd lots only. ~Trev.1930~ Hith. Low. 66 37% Federal Reserve district, which includes | 34 ‘Washington, were 5 per cent lower in June of this year than in the same | month last year, according to & report | made today by the Federal Reserve | Board. | Department store sales in the whole United States averaged 9 per cent lower than in the corresponding period in | 1929, the same report states, the per- | eentage figures being furnished by 490 stores. This means that the stores in Wash- “ington and the other cities in the Rich- mond reserve district made & 4 per cent better showing than did the whole United States. The same is true of the first six months of the year. Sales in this territory are reported as practically the same as last year, while they feil off 4 per cent in the average totals for the 12 districts. Every one of the 12 reserve districts reported a slump in department store sales in June. The New York district gnade the best showing, sales being off but 3 per cent. The Richmond district and Kansas City were paired at 5 per cent. Chicago, with & 17 per cent de- eline, had the hardest luck with retail sales, and St. Louis came next. For the six months Boston and Rich- mond stand together, with no gain or . New York reports a gain of 1 per cent, while sales in the other districts ‘re Jower. with Atlanta and Chicago Deing at the bottom of the list with a @ecrease of 10 per cent each. The following tabulation tells the story in & nutshell in the 12 districts, sales being compared for June with June, 1929, and for the first six months of 1930 with the first half of 1929, showing the percentage of increase or decrease: January 1 No. of to, rep'ting . Reserve dist. June 30.+ stores. tal (490 stores). —~4 490 1+ (RN wasmeSSoamme, *June figures preliminary. Fleming on A. B. A. Committee. Robert V. Fleming, president of the 'Riges National Bank, has been appoint- ed a member of a special committee on the calculation of reserves named by bank management commission of the American Bankers' Association. J. R. Leavall, executive vice president of the Continental Illinois Trust Co. of Chicago, is chairman of the committee, and T. B. McAdams of Richmond is the other member. John D. Lonsdale, presi- dent of the association, requested the appointment of the committee. 'he committee will make a study and report on calculation of reserves as follows: Deduction of cash from gross deposits before calculating re- serves: deduction of “due from banks” from gross deposits before calculating Tves irrespective of whether “due " or “due from banks” is larger, tp ¥rm1t banks to carry their reserve of uesdays for the close of business Monday nights. It will also probably give consideration to the advisability of carrying average reserves in place of daily ones. The matter of reserves is of wide interest to the banks of Washington. It is of nearly as much concern to the larger banks and trust companies that do not belong to the Federal Reserve @5 to those that are members. Mr. Fleming has already served on several special A. B. A. committees and when he was president of the District Bankers' Association made bank man- agement one of the features of the an- | nual convention. Rothschild Warns of Fraud. = The most pathetic victims of the get-rich-quick security swindlers are Dbeneficiaries of life insurance, who not only oftentime lose their entire heritage but the unwise investment destroys the aims and ambitions of those who have of Columbia Life Underwriters Asso- Clation at their monthly meeting at the -Adams House. The vultures of finance, who regard life insurance beneficiaries as prime candidates for sucker lists, desiroy the g«l effects of insurance and consti- te a tangible unfair competitor to the insurance profession, Mr. Rothschild sald, citing several instances in which Widows had been fleeced almost imme- diately after the insurance check was Feceived. Insurance companies and rep- Tesentatives should not only for selfish competitive reasons, but for the pro- tection of their clients, stress the slogan of the Better Business Bureau to “Be- Jore invest—investigate,” the ‘Wpeaker stated. Compared with other cities, Roths- child stated, Washington is compara- tively free of such bad practices as Tebating, which is the unlawful split- ting of commissions by insurance sales- men; of contract ralding, of high-pres- #ure false promises in seiling insurance and other unethical practices. The bureau anticipates working with the Field Practices Committee of the asso- eiation to prevent such standerds from encroaching upon the city and to elimi- Rate the few who may now be guilty in ‘Washington. Capital Traction Stronger Today. Capital Traction drew chief attention on the Washington Stock Exchange swhen the stock climbed from 58% at the opening ‘o close at 61. The second and third sales of 10-share Jots were made at 60, the next sale of 15 shares registered 60'4, another small sale was made at 60'5, while a final 10 ehares changed hands at 61, the high for the day and for several weeks, Washington Railway & Electric pre- ferred sold at 98’y and 98, Lanston moved to the extent of 40 shares at 115 Union Trust came out at 250, ex divi- dend, and Mergenthaler Linotype moved At 96'.. Twenty shares of Merchants Transfer & Storage preferred sold at 96, and Peoples Drug Stores preferred Fegistered 104. Fifty-seven Steamboat Fights sold.at 16. Fond trading was confined to Potomac Electric Consolidated 5s and Washing- fon C=s 5s at recent levels. Heard in Financial Distriet. ‘The board of directors of the Wash- ington Loan & Trust Co. has declared the regular quarterly dividend of 3 per cent, payable on August 1. Books will be closed from July 23 to 31, inclusive. George A. Garrett, resident partner ot F. B. Keech & Co., returned yester- day from a short visit at his Summer home, at Newport, R. I. President John B. Larner of the Washington Loan & Trust Co., came down from his Summer home, at Mif- flintown, Pa., to attend the monthly meeting of his directors. Sales of the American Stores Co. in June, new stores included, amounted 90 $10.950,207, a gain of 1.8 per cent ®ver June, 1929. For the first hailf year ®hey were $71,538,496, an increase of 1.1 per cent. F. W. Woolworth Co. has de- elared the regular quarterly dividend 401 60 cenis per share, payable Septem- ber 1 to siock of record August 9. NEW CARS CHEAPER. NEW YORK, July 10 (4).—The Stude- baker Corporation is introducing new President and Commander eight-cylin- der els, - Prices on the six. have been reduced to range from $975 to 8995, compared with the former range of $895 to $1,125, 56% 156% 147 8214 116 51% 23 591 101% 9% 417 B5% 184% Canadian Pacific(10) 156'4 Came (J 1) (6).. Stock Dividen 42 Abraham Strau 21% Adams Exp ( 854 Ad: Exp! 15% Advance Rumley pf. 4 1 Ahumada Lead. . Alr Reduction (3). Ajax Rubber. Alaska Juneau. .4 258 Allegheny Corp. AllegCpw sS40 why 1 Alleg Steel (12.30).. 1 Allled Ch & Dve(n6) 21 Alllance Realty 1314 108 Allis-Chalmers (3) Amerada Corp (2). Am Agricul Chem. Am Agricul Ch pf. .. Am Bank Note (13). Am Bosch Magneto. . ¢ Am Brake Shoe(2.40) Am Brown Bov Elec. Am Can (4).. Am Car & Fdy (6)... Am Car & Fdv pf (7). Am Chicle (12%).... 4 Am Comm Alcohol. . Am European Secur. Am & Forn Power. .. Am Home Prod(4.20) Am Ice (t4).. Am Internat] (2 Am La Fr & Foam Am Mach & Fay (1) Am Mach & Fy n w.1. 2 Am Mach & Metals Am Metal (3).. Am Nat Gas pf (7). % Am Pwr & Lt (31).. Am P&Lt pf A st(5). Am Pwr & Lt pf (§). Am Ra&Std San 1% . Am Rolling Mill(n2) Am Safety Razor(5) Am Sm & Ref (4). AmSm & Ref of ( Am Snuff (133). Am Solv & Chem . Am Sol&Ch ev pf(3). Am Steel Fdy (3)... 4 Am Steel Fay pf (7). 10s Am Stores (2)... 2 Am Sugar Ref (5)... 18’ Am Tobacco B (8)... 25 Am Type Fdy of (7). 10s Am Water Wks (n1) 62 Am Woolen. 1 Am Woolen pf. AmZinc Ld & Sm. Anaconda Cop (3% Anchor Cap (2.40)... 4 Archer-Dan-M (2).. Armour of Del pf(7). Armour of Il (A) Armour of 111 (B) Artloom (1)... i Art Metal Constr(2). Asso Appl Ind (4) Asso Dry G (2%)... Atch To& 8 Fe (10). 53 Atch To & SF pf (5). Atlas Powder pf (6, Atlas Stores (n1) Auburn Auto (§4) Austin Nichol Auto-Strop Saf R(3) 11 Aviation Corp of Del 12 Baldwin Loco (1%). 18 Baldwin Loco pt (7) 20s Balto & Ohio (7).... Bamberger pf (634) . Bang & Aroos (3%). Barker Bros (2) Barnsdall. A (2) Bayuk Cgr 1st pf(7). B'trice Cream pf (7). Besch-Nut Pkg (3).. Belg N Ry pt pf 5.49. Bendix Aviation (2). t&C0(3).10i:10 hiehem Steel (6) . Bethlehem Stl pt (1) Bohn Al & Brass (3). Borden Co (k3). Borg Warner (3). Boston & Maine (4 Briggs Mfg Co...... Brockway Motor Trk Brooklyn & Queens. . Bklyn Union Gas (5) 1 Bruns-Balk-Col. Bruns Ter & Ry Bueyrus cv pf (2 Budd (EG) (1). Budd Wheel (1).. Bullard Co (1.60). Bulova Wateh (8) Burr Add Mch (1) Bush Termnl (2%). Butte Superior...... 6614 Byers (A M).. 28 Calif Petroleum. . 1 Callaahan Zino & 48% Calumet & Aris (2). 13 Calumet&Hee(al3%). 56 Canada Dry G A (5). 140 7 o - > 2 [CTVVIOL TRePs T P gz BN o0 N o 45% Can Pacific(new)w.i. pital Adm (A).... Capital Adm A pf(3) eeee 1 64 Caterpillar Trae t3% 9 Celotex Cove..sioene 2814 Cent Aguirre As 134, Century Rib Mills. ., Cerro de Pasco (6).. 2 Certain-teed pf. 20% Checker Cab ( Ches & Ohio (10). 51% Ches & Ohto Corp oo E3st-4 Chicago & N W (6).. 95 ChIR1& Pac(?)... ChiR1& Pacpf (6). 11% Chi Pneu Tool 20 Chickasah Cotton Oil 49% Childs Co 12.40).., 24 Chrysler Corp (3) % 133% Coca-Cola (6). 4813 Coca-Cola A (3 50 Colgate-Pal-P (2 14% Collins & Atkman. .. 36% Col Fuel & Iron (2).. 34 584 Col Gas & EI (2),... 133 104% Col Gas & EI pf A(6) 3 15% Colum Graph (a28c). 108 Columbian Carb (16) 41 Comm Credt (2) ... 17 Com Credit 1st (6%) 10s Comm Cred pf (1%). 408 Comm Inv Trig1.60) 9 Comm Solvents ($1) 83 Comwlith & Sou(80e) 157 Cmwith & Sou pf (8) 2 Colo & Sou 1st pf (4) 1008 Congolenm-Nairn, Consol Cigars (5) 3 Consol Cgr pr pt 634. 60s Consol Film (2). 18 Consol Film pf (2).. 6 % Consol Gas N Y (4).. 343 4 Consol Gas NY pf(5) 4 Con RR Cubpf (6).. 2 Container(A) (1.20). Contl Baking (A)... Contl Baking (B)... Contl Baking pf (8). Conti Can (23%). Contl Diamond (2 Contl Insur (3.40) Contl Motors Contl Ol of Contl Shar 71 Corn Prod Coty Ine Crosley Radi Crucible Steel (k5 Cuba Cane Products. Cuba Co. “es Cuban.Amer Suga; Cudaby Packing (4). Curtis Publiab pt(7) Curtiss Wright Corp Curt Wright Corp A. Cushman’s pf (8)... Davison Chemieal. .. Del Lack & Wn (17). Detroft Edison (8).. Devoe&Ray A (1.20) Diamond Match (8). Drug Corporata (4). Du Pont de N (14.70) 259 Eastman Kodak (18) 64 Eaton Axle &8 (3).. 25 Eitington-Schild pf.. 1 Elec Auto Lite (8),. 72 Electric Boat. 4 a5z 3 Ba 9 4% Elk Horn Coal pf. .., 908 94% Bng Pub8vepf (6).y 1 94% Eng PubSvepf(5%) 2 Equit Office Bldg (3) 19 138 1 Alr Way Tl Ap(2%). 13 o 3 107% 654 5 97 46 Close. Ci 48 25% 8214 20% 9% 105% 26% (2858) I 46% 26% Stock ana Dividend Rate. ErfeRR.... . Eureka Vac Cleaner, 5 Evans Auto Loading. 4 Exchange Buf (1%). 20s Fairbanks Morse (3) Fed Wat 8. A (e2.40) Firestone T&R pf(§) First Nat Strs (3%). Fisk Rubber 13 Fisk Rubber 1st pf.. 1308 Fisk Rub 1st pf cv.. 1508 Florsheim Sh pf(6).. 1 Follansbee Bros (1), 2 Foster Wheeler (3) €7 Foundation Co. Fourth Natl I 6 Fox Film (A) (4)... 66 Freeport. Tex (15).. Gabriel Snub(A)new Gen Am Investors. .. « Gen Am Tnk Car($4) Gen Asphalt (4) .. 603 Gen Elec spec (80c). Gen Food Corp (; Gen Gas&EL A(e30). GenG & El pt A (7). Gen Ital Eds (a2.62). Gen Mills (3)....... Gen Mills pf (6). .. Gen Motors (13.30).. 660 Gen Motors pf wi (5) 15 Gen Motors pf (1) 1 Gen Outdoor Adv. Goodrich (B F) (4) Goodyear Tire (5) Goodyear 1st f (7). Gotham S H pf (7).. 2008 Gould Coapler, Granby Con M Grand Silver § (m1). Grand Unlon. Grant (W T) (1) Grt North pf (5). ... Grt North pf et (5). . Gr Nor ctfs Ore (a% . Grt West Sug(1.40). Grt West Sug pf (1) .18 Grigsby Granow.... 182 Gulf Mobile & North 4 Gulf 8t Stl 1stpt(7). 100s Hackensack W (134) 2208 Hackensk pf A(1%). 10s Hahn Dept Stores... 12 Hall (W F) PrCo(2) _ 2 Hanna pf (new) (7). 508 Har Wkr Ref (12%). 1 tman (B) (1.20). Hayes Body........ Hercules Powder (3) Hercules Pow pf (7) Hershey Choe (5). .. Hershey Choc of (15) Houdaille-H (B)1.20 Houston Oll (b10%) Howe Sound (1434). Hud&Man Ry (3.50) Hudson Moto! Hupp Motor Car (3). I1inols Centrat (7). . Independ O11 & G(3). 1 8000 08 O 1t 80 1 bt Indian Refining rets. Indus Ray (b5 % stk) Ingersoli-Rand (15). Intl Carriers, Ltd 3% . Int] Cement (4)..... Intl Combustion. Intl Comb Eng of. .. Int Combust pf ctfs. Intl Harvester (24 ). Intl Harvester pf(7). Intl Hydro El A (e2) Intl Match pt (4).... Intl Mer Marine (1). Intl Nickl of Can(1). Intl Pap & P (A)2. Intl Pap & Pwr (C). Intl Pap&Pwr pf (7). Intl Printing Ink (3) Intl Print Ink of (6). Intl Ptg Ink ctfs (3). Intl Salt (new) ... Intl Silver (18)..... Intl Tel & Teleg (2). Inter Dept Strs (3).. Investors Equity(2). Island Creek Coal(4) Jewel Tea (14) . Johns-Manville Jo & Laugh pf(7) Jordan Motor Car... Kan City Sou (5).... Karstadt (R) (1.03), Kelly-Spring 8% pf. Kelsey Hayes (2)... Kelvinator Corp Kennecott Cop ( Kinney (GR ) pf ( Kolster Radl ).s Kress (S H) Co (p1 Kreuger & Toll 1.60.. Kroger Gr&Bak(n1). Lambert Co (8). (¢ Liquld Carbonie () Loew's. Ine (3). Louisiana Ofl....... LouG & El(A) (1%) Louls & Nash (7). Ludlum Steel (2). Mac And & F' (12.85) . MacA & Forb pt (6). pt T Pl (16).. on & Rob (3) Mack Trucks (6).... Macy (RH)&Co(nt3) Madison Sa G (1%). Mallison & Co. ....... Manat) Sugar pf. ... Man Elev mod g (d5) Marmon Mot (h50¢). Marshall Field (3%) Martin Parry....... Mathieson Alkil) (3). May Dept Strs (n3). 1lle Shoe (2) ro-Gold pf(1 fcan Seabos Miami Copper (1%) Michigan Stl (h2%).. a (O] - = EmavanmnonanonEnn~afooann Minn Moline pf(6%) Mo Kan & Tex (1)... Mo Kan & Tex pf(7). Missouri Pac pf (5).. Monsanto Ch (g1%). Montgom Ward (3), Mother Lode (20c) Motor Meter G & El Motor Products (3 Mullins Mfg. Murray (b3% Myer(FE) & Bro, Nash Motors (6)..... Nash Chat & StL(5). Nat Acme (1%). o - Su AR~ RRen Natl Biscult, n(2.80) Nati Cash Reg.A(14) Dairy (33). . Dept Stores (3) Dept St 18t (7). Natl Distillers (3) Natl Lead 18 Natl Pwr & Lt Natl Steel (2). Natl Supply pt Surety (6). Natl Tea Co (2)..... Nevada Copper (1%) Newton Stet (x()'.,. A NYCh& ®)... N YChi&BtLpri6). 1 N Y & Harlem (6)...1208 les— Add oo Hieh. 11 43 106 _ 1 200 (Continued on Page 14.) NG STAR, WASHINGTO! 202 D. C, THURSDAY. JULY 10, 1930. FINANCIA MODERATE GAINS | SCORED BY STOCKS Trading Dull, However. Bears Make Capital of Sutro Suspension. By the Associated Press. ‘ NEW YORK, July 10.—Professional traders continued their struggles with a torpid stock market today, and had lit- tle to show for their efforts. Bearish ef- forts in the early trading accomplished lttle, ~and before midday traders shifted to the constructive side. Most pivotal shares soon recorded moderate gains, Trading could not be enlivened. It was eslimated in brokerage circles that the personal transactions of floor traders accounted for about 60 per cent of the activity. Commission house senti- ment was a little more optimistic, and investment suggestions were plentiful, but virtually none was sanguine enougn 1 look for any runaway merket for a while. Important banking interests still seemed content to let the market drift. Rails Do Well. The rails gave the best account of themselves, reflecting good yields from the prime dividend payers, expectation of improvement in traffic with the crop movement and estimates as to the benefits to be derived from the in- creased class rates. While different roads will be affected, variously, for instance, the Chicago Great Western, entire territory of which is affected, estimates that earnings will be in- creased about $1 per preferred share, ‘The United States Steel unfilled ton- nage report showed a reduction during June of only 91,163 tons, which was about in keeping with expectations. New evidence that the drop in whole- sale commodity prices is beginning to influence retall prices and the cost of living appeared in announcements of sharp price reductions by Sears, Roe- buck and Montgomery Ward. The Labor Bureau, Inc., reported wage de- creases in excess of increases in June, but reduction of retall prices may be & compensating factor. On the whole, the day’s news was about a standoff, with little market influence. Suspension Aids Bears. The bear activity in the morning closely coincided with the announce- ment of the suspension by the exchange of Sutro & Co., because of the alleged connection of one of its customers with the notorious Manhattan Electrical Supply_Pool. Air Reduction, Johns-Manville and National Cash Register dropped 3 to 5 points to new lows, then rallied. In the ralls, Atchison, New York Central, New Haven and others, gained 2 points or more. United States Steel firmed up on the tonnage report, gaining near- ly 2 points. In the olls, Standard of N. J, made a similar advance. Allied Chemical converted an early loss of 5 points into a gain of similar extent, and Eastman Kodak sold up about as much. Credit conditions were generally un- changed. PRODUCE EXCHANGE. YORK, July 10 (Special).— Security trading on the produce ex- change today was again dull and fea- tureless. Majestic Household provided the bulk of the transactions, dropping 12 point to 37. Irving Trust at 47 was also off fractionally. Lautaro Nitrate at 63, Petroleum Converters at 8!, and Saranac River Power at 203 were slightly higher. International Rustless at 1% and Photocolor at 8 were steady. to Loan On Approved District of Columbia and Maryland Real Estate 547 & 6} Applications Invited SHANNON. & TUCHY) 1435 K St. N.W. National 2345 First Mortgagg Money | A 0 BUILDING LOANS or IMPROVED PROPERTY Reasonable Rates Prompt Action B. F. SAUL CO. 925 15th St. Nat'l 2100 ALEX. BROWN o SONS ;4 Underwriters « Distribusers INVESTMENT SECURITIES Wasninoron Orrica 737 15th Street N. W, REPORT 2 OF SoNDITION REPORT OF CONDITION REFORT OF CONDITION Chevy Chase Savings Bank | Washington Savings Bank | Industrial Snvinqs Bank f Washington, in the District of Columbia. the close of business on June 30, 1930. RESOURCI . Loans and discounts | Overdral . United = Staies securities o ed eserves for tingencies. p . Reserves for interest, and other expenses accru npa i outstanding . Demand deposits . Time deposits . Bills payable . Other liabilities Total . District_of Columbia, 1. J EZRA TROTH. cashler 591.218.31 bk i1} 12.334.07 252.308.57 dividends,” con- etc. nd’ rediscounts named bank, do solemniy sw above statement is true to th knowledge and belief J. EZRA TH, C subscribed and’sworn Lo besore me thi day of July, 1 (Seal.) Correct—Attest: John C. Walker, I MeKenzle. J. Walsh, 3. Jos. A. Paul’ Sieman, Bynum Thomas Clyde D. i BOWLY, L VAUGHE RS Fublle. W, Perry, Garrett, Burkart. E._Hinton. Directors. Reserve District No. 8. REPORT OF THE OF THI SONDITION BANK OF BRIGHTWO! OoD Of Washington, in the District of Columbia, at the close of busing ‘RESOURCES. . Loans and discounts A3 fAxtures, 9. Cash and du 14. Other assets . Total .. LIABLLITIES, 18. Capital atock paid in. 16 i:rpl 19. Reserves ' for 21, Dug o "Banks. M O 3 B Nemostis o 35 Sthel utituee Total ity of Washington. Distric! O R ¥ BOHRED INER, cashier of in] t and other expenses acc s on June 30, 1930. 45,821.53 ot 2,050.00 99,498.25 103.399.62 72.651.40 17.889.18 $942,736.04 100.000.00 ufll.m.m e 480000 2,331.73 267,285.51 4322,686.50 20, X .30 ... $942,736.04 ? Columbi he abov named bank, do golemnly swear that the above statel knowledge and Subscribed and fworn 0 h dav of Jul (senl tAvtest: Correet— g aInorLL. $arrSW pER bellel. 8tl Charter No. 11633 _Reserve PORT OF COND! - e ment I8 true to the best of my g INER, Cashler. T wore b before ‘e Lils 930, x MONCK. GO, Pty Fulic. RY, Directors. istrict No. 8. ON Liberty National Bank Of Washington, in the Distric t of Columbis, at the close of business on June 30, 1030. United 8t securities owned her bonds, stocks And pllities owned ., . Banking _house, 3 urniture and fixtures, $i 1 vide 2 19 Reserves for interest, ‘(axed 563,635.18 282,623.49 214,803.90 504,265.89 . $300.000.00 250,000.00 88,947.38 and other expenses Accrued and unpat to banks, nd outstanding Demand defolltl amf deposits her llabiliti ‘Total. iet of Columbia. bank, do tatement is true belet. nd ey cALN: Subseril ath day of (Beal.) Correct—Attest; July, 1030, 0. 0. Wi MBS M. Ji . J. McQUA RETT O. NASH, VR otars ublie of the above- solemnly swear that the To the best of my AN, Cashler. d_and sworn to before me this . N, N, [NSTON, "Directors. REPORT &?@mn North Capitol Savings Bank Of Washington, in the District of Columbia, at the close of busis on RCES. RESOU! 1. Loans and discounts 2. rafts 3 state " ow than banking hou Qash and_due from . OQutside checks and cash ftems LIABILITIES, apifal stock paid in. | Undivided ' profits nei. June 30, 1930. . Reserves for dividends, con- te. tal ... R ,% 1 ity of Wi mr“;‘ o"'DNo “}“’:o?’r‘a? cashier of . ank. do wl-nl‘lfly 'l.(lr thl; above-name my Rnowledse and. belief. " now! elief. P. HENRY 11 ash 3 the he best of COATES, er. Subscribed and sworn o before me this 9th_dav of July. 1930. (Beal.) RALPH A. [OWARD. Jr. otary Publie. Oorrect—Attest: THEO! DORE MICHAEL, ALLEN 'HOLLANDER, JOHN A R e g Directors. REPORT OF 'O SQNDITION National Savings & Trust Co. nd New York Ave. in the eity 3!‘v‘vfl hl. te D. C. ashington, D, G, ness on June 30, 1930. s t securitie « ofccurities owned curitie 6. Banking house 3 cash items 14. Other assets Total 18. Capital L A 17. Undivide: “ineiuding cashiers’ Fhecks outstanding 33 Dimand depoits . Pime deposits RD, Notary pifes Oeober ds. atocks, and’ se- close of busi- 1,360.14 769,376.26 ublie. 3. 1034 Of Washington, in the District of Columbl of Columbia, at the close of business on June 30, 1930. ington, in the Distri usiness on June 30, 1930, s close of b RESO! . Loans and discounts $461.849 61 Overdratts 1311 1.000.06 curities owned . . Banking house. $45.540. 197,876.70 niture and fxtures.. 3 . Rey ed othe . 289.987.14 54,021.71 24.013.88 T4.457.52 i 311.985.08 estate owned other than king house . and due froi le checks and other LIABILITIES. Capital stock paid in Sarghus —c.ooo0, Brofis o 10 _ Due to banks, inciuding cer . Undivided *profits— . Due to banks, including cer- tified an T outstanding ., . pemand deposi Time deposits e, ..$879.518.14 [ named bank. 7 AEAEnat, the P ’ fbove atatement is true to the best of my ARD. treasurer of the and bellef. % ly that | BOWIE. Cashier. above-uamed bank, do solemn ar A 1| Subscribed and sworn to before me this the above statement is true to the best o Y al) my knowledge and belief. 0. « CHARLES 8. CUNEY, JOHN D. LEONARD, Treasurer. NoaSUNEY Subseribed and sworn to before me this 8th | day ot July, 1930, Correct—Attest: JESSE_H. MITCH] o WALTE] CARTER Wal'en T CARTER. 4 irectors. JAMES H. MARR. Notary Public. My commission expires July S, 1931. Correct—Attest: Robert E. Mann, m. E._ Russell, Ralph P. Gibson, Directors. Reserve District No, 8. REPORT OF CONDITION Of the Merchants Bank and Trust Company Of Washington, D. C., at the close of business on June 30, 1930, RESOURCES. 1. Loans and discounts. . 2. Overdrafts ........... . United States Government securities owned. .$7,252,043.21 . 190853 Other bonds, stocks and securities owned. .. .. ¥ 53,799.80 939,737.39 42,337.50 197,722.40 219,856.70 ves 1,002,586.45 45,800.74 ............... terisessessieassassnesss.$9,808,653.31 LIABILITIES, . Capital stock paid in Surplus .....i.een . Undivided profits—net . Reserves for dividends, contingencies, etc. . Due to banks, including certified and cashiers’ checks . Demand deposits . . Time deposits ............. . Bllls payable and rediscounts. 31, Other liabilities . . ‘Total . ‘Washington, D. s I, HARRY J. DONOGHUE, treasurer of the above-named bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. HARRY J. DONOGHUE, Treasurer. Subscribed and sworn to before me this 8th day of July, 1930. (Seal.) CHARLES J. CRUMP, Notary Public. My commission expires January 28, 1933, Correct—Attest: L. E SCHREINER, J. J. DRURY, R. E._BOLLING, F P. HARMAN, Jr,, PETER A. DRURY, . Customers’ liability on account of acceptances executed. .. . Banking house, $140,000.00; furniture and fixtures, $57,722.40. . Real estate owned other than banking house, . Cash and due from banks... . Outside checks and other casl . Other assets +$1,000,000.00 0.00 J. L. SHERWOOD, E. GERSTENBERG, :(I)‘gm L. NEWMYER, % Directors. First Mortgage Loans On improved Real Estate in the District of Columbia year terms on your 51,05 oo Apply RANDALL H. HAGNER & Compan, . MORTGAGE LOAN CORRESPONDENT NEW YORK LIFE INSURANCE COMPANY 1321 Connecticut Ave. Decatur 3600 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 . . . Particulars of available notes mailed upon request. o H. L. Rust Company 1001°15th Street Nat'l. 8100 you can’t be bothered in JULY. .. 'OU men whose investments mature in July — you don’t want to be both- ered during this vacation season with stocks that require constant watching . . . You would like to place your funds in a security you know will be safe—that will pay you an unfailing return, no matter where you are... That is why so many investors have already chosen the 6% First Mortgage Notes sold through the Swartzell, Rheem & Hensey Company—and have made arrangements to have their capital transferred to these securities without a day’s loss in interest. They have investigated these Notes—and their decision was based on this record: For more than 61 years these Notes have not wavered a penny in value — have always paid promptly and in_full every interest return. ‘That is because they are based solidly on one of the safest investments in the world—carefully investigated improved property in the Nation’s Capital. First Mortgages now pay the bighest return of any safe investment, and now is the time for you: to take advantage of i SWARTZEIL, ll RHEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET N.Wo/ WASHINGTON DiC.