Evening Star Newspaper, July 12, 1930, Page 13

FINANCIAL TREND IS UPWARD INNATION'S TRADE Business Index Rises During§ Week—Greater Building Activity Is Factor, BY EDWARD C. STONE. ‘The characteristic signs of the pro- cess of business recovery in the United States appear more clearly this week. | In spite ot a certain amount of back- | sliding to be ex- pected in coming weeks, the general trend is upward and underlying conctions are fa- vorable for early Tecovery, says The Business Week in its report cover- ing the week end- ing July 12. The business index for the last week rose to 99.7 per cent, comparing with 99.3 per cent in the preceding week and 1112 per cent in the corresponding week last year. Basic industries farthest from the consumer, like steel and coal, which decline or rise last and farthest, con- tinue more than seasonally slack. Ele tric power production and prima: distribution by railroad are still at low levels, but begin to show slight im- provement. Building construction has increased sharply. above normal and above last year's level. General trade. as measured by check payments and currency in circulation, has risen to relatively high levels. Bank credit is expanding at a more than normal rate. Federal Reserve credit is being brought into action on a larger scale. Commodity prices are firmer. The stock market is stearier and quiet. ‘The sharp rise in the business index of the volume of general business acti ity nearly to the normal level in the past two weeks is partly a reflection of the markedly higher level of building activity and the large volume of money turnover at the end of June. Some support may be needed and should be en the key crops, wheat and cotton, in this critical season to prevent fur- lz:m slump in the commodity price vel. DeMarco Assumes New Position. John M. DeMarco has assumed his new position as cashier of the Seventh Street Savings Bank, to which he was | elected a few days ago. He becomes one of the youngest bank cashiers in the Capital, having won the place by hard work and close application to the duties of assistant cashier. Mr. De- Marco was born in this city, received his education in a private school and was graduated from Washington Chap- ter, American Institue of Banking. He is at present a member of the institute’s board of governors. All of his business career hg been associated with the Seventh Street Savings Bank. He en- tered its employed in 1919 as a clerk | :nd was elected assistant cashier in | John M. DeM: General Baking Reviewed. The General Baking Corporation, which recently began operating a new plant in Washington double the size of the old one, is the subject of a sur- vey by Standard Statistics. This is the | company that operates 50 plants in various cities in the United States, using the trade name, Bond Bread. In 1929 the company put out 500,000,000 loaves. The stock is listed on the New York Exchange. The survey says in part: “Outstanding capitalization consists of 892,980 shares of $6 cumulative pre- ferred and 3,472,360 shares of common, both no par (In addition, General Baking Co., subsidiary, recently floated an issue of $7,000,000 10-year de- bentures and has outstanding $9.077,500 of preferred stock.) Preferred dividends ‘were reduced from $6 to $3 per annum on April 1. last. Nothing has been paid on the common. “Net income has been substantial, but heavy charges and preferred dividends have left little available for the com- mon. Earnings per share of common equaled $0.59 in 1927, $0.46 in 1928 and but $0.14 in the full year 1929. Cut of 10 per cent in price of bread, instituted last Fall, resulted in the less satisfactory profits last year. The same scale of Pprices exists 2t present.” C. & O. to Split Stock. ‘The Interstate Commerce Commis- sion has approved the proposal of the Chesapeake & Ohio Railway to split its common stock four for’ one, by is- suing $25 par stock in exchange for present $100 par common. In support-of the application for au- thority to split its stock, the Chesa- peake & Ohio represented to the com- mission & belief that a reduction in par would make its shares more at- tractive to the general public. It also was claimed that this would increase its shareholders, which in turn, will in- crease its ability to raise money by sale of capital stock instead of funded in- debtedness. The road, having received sanction ef the split-up, will apply to Virgini State Corporation Commission for au- thority to amend its charter to provide for issuance of four shares of §25 par value stock for each share of $100 par common and (upon its conversion) for each share of $100 par 6'; per cent cumulative convertible preferred stock series A. Institute Chairmen Named. Pirst committee chairmen for Wash- ington Chapter, American Institute of Banking's new administrative year were sannounced yesterday by Frank M. Per- ley, American Security & Trust Co., president of the chapter. John DeMarco, newly elected cashier of Seventh Street Savings Bank, will again head the auditing commit- tee. Hulbert T. Bisselle, assisstant cashier, Riggs National Bank, succeeds Raymond D. Lewis, American Security & Trust Co.. as editor in chief of “Dol- lars. and Sense,” chapter quarterly publication, and Aubrey O. Dooley, as- sistant trust officer, Federal-American National Bank. becomes chairman of the educational committee succeeding President Perley. Richard A. Norris, Lincoln National Bank. succeeds Mr. Dooiey as vice chairman of this com- mittee. Willard G. Barker, vice president and treasurer, Morris Plan Bank of Wash- ington, wili be chairman of the enter- tainment committee. This is a new tee entrusted with a more ex- entertainment program. A. E. H-nu of W. B. Hibbs & Co., becomes chairman of the forum committee, vice James A. Soper, vice president and cashier, Lincoln National Bank. J. Fred English of Commercial National Bank, is new chairman of the mem- bership committee, following Robert H. Lacey, cashier, Columbia National Bank, and Henry F. Kimball, American Se- curity & Trust Co., former athletic com- THE EVENING STAR. WASHINGTON, D. C. SATURDAY. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Notice—All stocks are sold In ene excepting those designated by th etter s (658) { which shows thozc stocks to h. nld n odd lots only. | ~rrevsse~ Hish. Low. Lav. O 66 37% 21% Adams Exp (1.60)... 26% 34% 20 Addressograph (1%) . 234 8 Advance Rumley.... 29 1% 1% Ahumada Lead 156% 103% Afr Reduction (3 36 16 Alr Way Tl Ap(2%). 9% 415 Alaska Juneau. 35% 18 Allegheny Corp 343 232 Allied Ch & Dve(né) L 48% Allls-Chalmers (3).. 3113 1% Amerada Corp (2). 54% 41% Am Rrake Shoe(2.40) 128 1184 Am BrSh & Fpf (7). 21% A% Am Krown Rov Elec. £0% 601, Am Brown B E pf(1) 3 156', 108% Am Can (4).. . 25 42 Am Car & Fdy (6). 39 Am Chain Co (3 36% Am Chicle (12%). 9% Am Comm Alcohol 56 Am & Forn Power 19% Am Hawaftan (+10). 28% Am Internat) «2) . 44 Am Locomotive (4 95 Am Mach & Metals. . A0 Am Metal «3) . 65 Am Nat Gaspf (1) 2% Am Pwr & Lt (21).. 23% Am Ra&Std San 1% 15% Am Republics 48 Am Rolling Mill(n2) 7% Am Seating. . 46% Am Shipbuilding (5) 53 Am Sm & Ref (4) 6% Am Solv & Chem 18 Am Sol&Ch ev pf(3). 3514 Am Steel Fdy (3).. 110% Am Steel Fdy pf (7). 47 Am Sugar Ref (6). 16 Am Tel & Cable (5). 20s 200'% Am Tel & Telee (3) 60 210 197 Am Tobaceo 18). .. 3 282 Am Tobaceco B (8) TR Am Water Wks (n1) 75 Am Woolen 19% Am Woolen pf. 5 Am Writ Paper etf 614 AmZine Ld & Sm 441, Anaconda Cop (3%). 347 Anchor Cap (2.40)... 19% Archer-Dan-M (1), 2% Armour of Il} (B). 194 Atch To& S Fe (16 101 Atlas Powder pf 145 Atl Coast Line (+10). 0% Atl Refining (12) 2515 Atlas Stores (n1) 91 Auburn Auto (J4)... 37 Auto-Strop Saf R(3) 4% Aviation Corp of Del 195, Baldwin Loco (1%). 1042 Baldwin Loco pf (1) 984 Balto & Ohlo (7). ... 109 Bang & Aroos pf (7). 13% Barker Bros (2).... 2014 Barnsdall. A (2).... 49%, Beech-Nut Pkg (3) 27% Bendix Aviation (3). 314 Best&Co2)....... 7% Bethlehem Steel (8). 601 Borden 1315 Briggs Mfg Ce. .. 58% Bklyn-Manhat (4).. 115 Bklyn Union Gas (5) 5% Bruns Ter & Ry 8... 193 Bueyrus (1). 107% Bucyrus pf (7). 334 Bueyrusev pf (234). 7% Budd (EG) (1). 273 Bullard Co (1 60, 109% Bush T Bid pf (7). 90 Burns Bros (A) (3). 29% Burr Add Meh (1) 2 Butte Superior 664 Byers (A M). Calit Packing (4) Calumet&Hec(a134). Canada Dry G A 6). 184% Canadian Pactfic(10) 20~ Cannon Mills (1.60). 1561 Case J 1) 16) . 54 Caterpillar Trac 3% 9 Celotex Co. 231 Cent Aguirre As 1%. 43 Cerro de Pasco (6 5% Certain-teed Prod. Ches & Ohlo (10). 4% Chl & Alton pf. Chi & Eastern 11l pf. 1214 Chi Mil StP & Pae. .. 20'% Chi MIIStP & of 81 Chi Great Western, . 3 3 EranToons nany on o re o B TN R 0 09 2 28 e 10 25 Ch Yellow Cab (1) 49% Childs Co 12.40). 24 Chrvsler Corp (3). City lce&F (k3.60) 6% City Stores (50e 133% Coca-Cola (6). . 97 Colg-Palm-P pf (8).. 36% Col Fuel & lron (3).. 584 Col Gas & EI (3). 104% Col Gas & El pf A( 108 Columbfan Carb (+6) 15% Colum Grapb (llle) 31% Comm Credit A 76% Com Credit 1st (UA) 20% Comm Solvents (31) 12% Comwlth & Sou60e) 10% Congoleum-Nairn. .. 31 Congress Cigars (4). 67 Consol Cgr pr pf 6%. 15% Consol Film (2)... 96% Consol Gas N Y (4). 99% Consol Gas NY pf(§) 49 Con RR Cub pf (6).. 7 Consol Textil 1813 Contl Baking (A). 3% Contl Baking (B) 664 Contl Baking pf (8). 50% Contl Can (234). 3% Contl Motora. 18% Contl O1l of Del 20 Contl Shares (1). 87% Corn Prod Ref(t43) s IS 25% Cream of W‘h!(t?%h 13 Crown Zellerbach(1) 704 Cructble Steel (k5). . 114% Curtis Publish pf(7) 613 Curtiss Wright Corp 8% Curt Wright Corp A. 55 Cutler-Hammer(3%) 45 Denver & RG W pf.. %4 195% Detroit Edison (3) 67 Drug Corporatn (4). 95% Du Pont de N (14.70) 4 176% Eastman Koda! 3) 19 Eaton Axle & 8 (3) 55% Elee Auto Lite (6. 49% El Pwr & Lt (1). 613 Eleo Storage Bat (5) 44 Endicott-John (§)... 49% Equit Offce Bldg (3) 35% Erle RR. 10% Eureka Vac Cleaner. 6% Evans Auto Loading. 3% Fairbanks Co 34% Fairbanks Morse (3) 25% Federated Dept Strs. Rl stone T&R p!(‘) 46 First Nat 8trs (3%). 2% Fisk Rubber. . 65 Fisk Rubber 1st pf. . 6015 Foster Wheeler (2). 284 Fourth Natl Invest. 16t Fox Film (A) (4). 37 Freeport Tex (15) 5% Gabriel Snub(A)new 78% Gen Am Tnk Car(34) 16% Gen Bronze (2). g e 90 Gen Cable pf (1)...0 60% Gen Electric (1.60).. 46 Gen Food Corp (3).. Gan Gas&EL Aed0), GQHG&EID!AH . 34% Gen Ital Bds (al. l)~ 404 Gen Mills (3). 89 Gen Miils pf (6) 37'% Gen Motors (13.30).. jundred-share lots (2858) Close. 50 50% 49 25% 25 311 31% c o (" 1183% 100% 181 514 2244 te. A Hanna pf (new) (7) Hayes Body. ). Houdaille-H (B)1.20 Houston O1l (b10%) . Hud&Man Ry (3.50). 4 Hudson Motor (5)... Hupp Motor Car (21. Ilinois Centrai (7).. Independ O1l & G(2). Indian Refinin Indus Ray (b6 % stk Ingersoli-Rand (15). Inspiration Cop (2).. Insurance Sh (45¢). . Insur ctfs(Md) (60c) Interboro Rap Tran. intl Bus Mach (n6).. Intl Carriers, Ltd % . intl Cement (4 Int] Combustion. Int Combust pf ctfs. Intl Harvester (3%) Intl Hydro E1 A (e2) Intl Match pf (4)... Intl Nickl of Can(1). Intl Nick. Can pf(7). Intl Pap & P (A)2.40. Intl Pap & Pwr (B) intl Pap & Pwr (C).. Int] Pap&Pwr of (7). Iatl Salt (new) Intl Silver (+8). Intl Silver pf (7) Int] Tel & Teleg (2). Investors Equity(2). 4 Island Creek Coal(4) Johns-Manville (3) Jordan Motor Car 1 11 31 K CP&L 1st pf B(6). 3 Kan City Sou (6).... Kan City Sou pf (4). Kelly Spring Tire. Kelsey Haves (2) ¢ Kelvinator Corp. .. Kennecott Cop (3). . Kresge(SS)Coc1 60) Kresge Dept Stores. Kreuger & Toll 1.60. Kroger Gr&Bak(nl). Lambert Co (8)..... Lehigh Valley(téi) Leh Val Coal pt (3) Lehman Corp (3) Liggett & Myera(15) Ligg & Myers B(15). Lima Locomotive. .. Loew’s. Ino (3). Loose-Wiles (12.30). Loose- Wiles 1st (7 Lorillard (P) Co. LouG & El(A) (1 Louls & Nash (7)... Ludlum Steel (3). .. McKeespt T P1 (15). 4 Mack Trucks Macy (RH)&Co (nt3) Mallison & Co Marshall Fleld (2%) Martin Parry. % Mathieson Alkil Maytag Co (12) Melville Shoe (2 Mengel Co (2 Mexican Seahcar Miami Copper (114). Michigan Stl (h2%). Mid-Cont Petm (2).. Middle Sta Midland Steel pf (8). Minn Moline Pwr... M StP & SSM. . Mo Kan & Tex (1).. Missour) Pacific. Monsanto Ch (£134). Mont Ward Co In Moon Motors. Morrell & Co (4.40) Mother Lode (20c) . Motor Meter G & El Mullins Mg pf (7) Murray (bz%stk). Nash Motors (4). Nat Acine (1% ) Natl Belia He: Natl Bisouit, n(2.80) Nati Cash Reg.A(14) Natl Dairy (33) Natl Lead (18)..,. Natl Pwr & Lt (1). Natl Steel (2) Natl Supply (b Natl Surety (6) Nevada Copper Newton Steel (2) ¥ Alrbrake (3. ¥ Centrai (8) Y & Harlem (6 ¥ invest (1.20) Y N H & Hart (6). YNH&HDp (1), Y Steam pf (¢ . North Am Aviation. 94 30 1008 28 1 3 15 & % T | wrmtrnnnaaSalunTumcenne 8 8 North Am(b10%stk) 177 North Amer pt (3).. North Am Ed pf (6). Northern Pacific (5). North Pacific ct (5). Ol Well Supply.. Oliver Farm Equip, Corp... DECA) (B). Otis Elev. n(z34). Owens 11 Glass (3). Pacific Gas & £1 (2). Pacific Lighting (3). Pacific Tel &Tel (7). 4 Packard Motor (1) Pan-Am Petm (B Param'nt Publix Park Utan Parmelee T Patino Mines. Penick & Ford (1). Penney (J C) (3). Penna R R (4). Pere Marq pr pf (§) Petrol Corp (13%) Phelps Dodge (3) Phila Read C& 1. Philip Morris (1) Phillips Petrm (n; Plerce Oll. Filisbury 5 Porto Ric Tob A (n P Rican Am To (B). Prairie Plpe L (16). Proctor & Gamb (2.40 Pub Serv,N J (3.40). Pullman Corp (4)... i Punta Alegre Sugar.. Pure Oil (1%)...... Purity Bakeries (4). 4 Radio Corp. Radio pf A (3%). Radlo-Keith-Orph A. 3. Reo Motor Car (80¢) Reo Motor ctfs (80c) Republic Steel (4) . .. Reynolds Metls 3.40. Reynolds Spring.... 4 Reynolds Tob B (3). Richfield Ol (2). Rio Grande Ol (2 Rossia Insur (2.20). Roy Dutch (al.3415). Safeway (e8)....... St L-San Fran (8)... s Roebuck(32%) ca Copper. el. Lna. .. Sharon Stl Hoop (1). Shattuck (FG)(11%) Shell Union (1.40)... Shubert Theatres. ... Simmons Co. .. Stoclatr Con O11 (3).. Skelly O1l (2)... Snider Packing pf. Solvay Am pf(5%4) Southern Cal Ed (2 1 3l PRICES ARE BETTER IN STOCK MARKET More Cheerful Attitude Is Noted—Industrials and Utilities Move Up. BY CLAUDE A. JAGGER, Associated Press Financial Editor. NEW YORK, July 12.—Share prices | again turned upward in today's brief | session of the stock market, imparting | & more cheerful attitude in speculative quarters as the market closed the third week of relative stability. Trading continued at an extremely modest pace, and commission house | comment, was still inclined to be un-| certain, but with the return from Eu- Tope of a prominent bull operator some- | what sooner than had been expected. | many shorts were inclined to close out | their commitments and await develops | ments. A wide assortment of important in- dustrials and utilities moved up about 3 | to 5 points, but there were a few slight | recessions from the day's best in final | few minutes of trading, a normal Sat- urday development. Radio Corporation was active and strong, rising more than 2 points to above 29, compared to a recent low of the year at 321; and a peak during the bull” movement which culminated in early March of 69%. Bidding up of this | issue was regarded in speculative quar- ters as in the nature of a greeting on the return from Europe of M. J. ! Meehan, specialist in the stock during its spectacular rise of the late big bull market. Hershey Chocolate was also a favor- ite, rising nearly 5 points in operations based on reports that it had stocked up | with cocoa at recent low prices and | planned no cuts In the price of its products. Such issues as U. 8. Steel, General Electric, American Water ‘Works, Standard of New Jersey, Na- tional Biscuit, New York Central, Con- solidated Gas and Loews rose 2 to 3 points. Some stocks were inclined to sag in the early trading, but soon turned upward. ‘The close approximated 5 " DUN REVIEWS TRADE Charncteflstlcs Found | Unchanged During Week. NEW YORK, July 12 (#).—Dun’s Re- view says today: With demands continuing mainly re- tricted and price declines still predomi- nating, the essential characteristics of | the general business situation are un- altered. No significant change at the turn of the half year had seemed likely, however, and the chief interest at pres- ent centers in the prospects for the | period beyond the Summer. The| movements of recent months have not | conformed with the optimistic views held in some quarters, the scope of the readjustment being wider than had been commonly anticipated, and there is more of a disposition now to ap- | praise_conditions with clearer recogni- tion of the actual facts. ‘ Confidence in the longer outlook is supported by the operation of (orcesr which are strengthening the basic| structure, and prominent among these | is the persistent trend toward a closer | alignment between production and con- sumption. As results of semi-annual | inventors are more fully disclosed, an encouraging point is found in the rela: tively moderate stocks of goods in dif- ferent instances, and the more favor- able. position of supplies is regarded as foreshadowing an ultimate resumption of buying on a large scale. Weekly bank clearings, $8,201,854,000, a decline of 38.4 per cent from a year | ago. SILVER INDUSTRY NOW NEEDS MORE RESEARCH With the decline in the price of silver to the lowest level in history, this industry needs research, says a builetin | issued by the Brookmire Economic Serv- ice. This is made doubly certain by the fact that such countries as India, | China and Persia may in the future adopt gold as a basis for currency. The bulletin continues: “The possibility that silver will be-| come but another commodity instead of | a precious metal, stresses the fact that| the silver industry needs in all its| branches, researchespecially for utili-| zation, merchandsiing and consumption, so that freer use of the metal may be created in the arts and in the applica- tion of the metal to new uses not before possible because of mp price.” | BANK CI.EARINGS | By the Associated Press. NEW_YORK, July 12 (Special).— N. Y. Bank clearings, today, $1,200.- 000,000; a year ago, $1,489,000,000. New York bank balances, today, $170,- 000,000; & year ago, $170,000,000. New York Federal Reserve credit balances, toda; .ouss.ooo.ouo; a year ago, $170,- 0 strong. ‘Total sales ,000 shares. Essential 24-Hour Pnrkmg SR L Money to Loan e revalling tnterest and somimy Joseph L. Weller 40, "eh & 6% LOANS ON HOMES and Business Property Run for § 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 First Mortgage Loans JULY 12, 1930. FINANCIAL A center of the cotton industry si as the home of the new American Cotton Co-operative Association. New Orleans Cotton Exchange. in the city. New Orleans has been chosen Left top: Other pictures are views of the cotton industry COTTONSEED MEAL MAY ADORN BREAKFAST TABLE OF FUTURE By the Associated Press. A means of adjusting cottonseed meal to the human diet is sought as the re- sult of the accidental discovery of vitamin G in the meal. If cottonseed meal could be so uti- lized, it would add millions of dollars m‘ the income of American cotton farmers. | Henry Stevens, Department of Agri-| culture chemist, made the discovery | while feeding cottonseed meal to rats in a protein experiment. meal has a pleasant odor. Due to the proteins it has a tendency to become rancid with age. Chemists believe a way will be found | to insure a sufficiently pleasant taste and preservation, once they are able to eliminate the toxic element. Until that occurs the chief interest in the dis- covery of vitamin G in cottonseed meal centers around its use in the treatment of pellagra. itamin G is a substance of unknown chemical composition and is found in lean meat, fish, eggs and milk. He suddenly realized that rats on a| = cottonseed meal diet showed no physi- cal difference from those whose diet included the vitamin, | The importance of vitamin G s its use in combating pellagra, a disease | peculiar to the South. Stevens' work | demonstrates that cottonseed meal, | even in the unrefined state, is the only | substance that approximates yeast as a | source of both vitamin G and vita- min B, | Whether cottonseed meal can be| made fit for human consumption de- | pends on whether chemists find a way | to_eliminate the toxic substance in it. | The meal now represents what is| considered the greatest untapped source | of proteins, some chemists holding that | it contains all the protein necessary to | the human diet. | Even though cottonseed meal com- monly is used as a cattle feed, it has to | be given in moderate amounts because | of the toxic substance which, when present in large quantities, results in the production of deformed calves. While nutrition studies have yet to | suggest a possible form in which the | meal could be used as food, they do| not have the handicap of an unsavory | aroma. Unlike cottonseed oil, fresh | Money on Hand to Lo First Deed of Trust 6% Interest Reasonable Commission and Prompt lies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. Real Estate Loans 51% & 6 “Khalicativiaiinviced fos Loans on District of Columbia and Maryland Properties. SHANNON & LUCHS D e 1435 K St. N.W. National 2345 Management 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. (Since 1900) 730 17th Street First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. 806 15tk St. N.W. Phone National 2628 Mortgage Loam Correspondent for The Prudential Insurance «Co. of America COTTON CO-OP AIDS OLD NEW ORLEANS ;Seeks to Outrank All Other Ports in Shipment of Staple Abroad. By the Associated Press NEW ORLEANS, July 12.—Impor- tant as a_cotton center since 1735, proud old New Orleans has taken on added importance with the capture of | the headquarters for the $30.000,000 Government-approved cotton marketing | organization. This development has stirred ambi- tions of this city to outrank the other cotton capitals of the world. Plans for additional portside wharf- age, increased storage and more effi- clent handling of certificated cotton have been made. With an expenditure of $100,000, the dock board has extended or plans to extend to all compartments of the State-owned warehouse on the river- front an improved system intended to serve the ends of economy. ‘The public cotton warehouse, bullt in 1915 at a cost of $6,000,000, has a stor- age capacity of 461836 high density bales. Daily unloading capacity is 7,500 bales from cars and 2,000 bales from barges or steamboate. Daily load- ing capacity is 7,500 bales to steam- ships. Four ocean vessels may load re three private ship-side warehouses and five additional private warehouses that have easy means of | access to the public wharves Cotton shipped through the public warehouse for the season ending Au- gust 31, 1929, was 199,061 bales. The port ranks second in the United States in cargo traffic, i LOANS ON INCREASE. NEW YORK, July §2 (Special).—The Continental Finance Corporation of New Jersey reports that for the first six months of 1930 as compared with the first six months of 1029, new loans made increased 27.5 per cent. Loans outstanding for same period increased 625 per cent and gross earnings for the first six months of 1930 as com- pared with the first six months of 1929, show an increase of 72.8 per cent. First Mortgage Lo-m Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. R e BEN HUNDLE) TIRES Allowance on Your Old Tires m 14th St. N.W. Adams 8100 ice—Charge Accounts Invited MORTGAGES THE GOAL IS CERTAIN That is one of the strongest recommendations as an invest- ment for our 6% FIRST MORTGAGES ver a Third of a Century Without a Loss You know definitely what to expect, and exactly when you will receive it. Nothing spec- ulative or vague about either the interest or principal—con- sequently they are popular with conservative investors. May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 THERE 925 15th St. N.\W. IS NO SUBSTITUFE FOR SAFETY YOu can't be bothered 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 92% Gen Motors pf wi (5) i i % Aubre; mittee chairman,’ will succeed y 11156 Gen Motorb ot (1) ©O. Dooley as chairman of the publicity flm]:!lm.‘ Mlge Mildred (‘7‘ cwoo?]-l . cock, American Security Trust Co., Wi again head the women's committee. 30 Gen Theat Bquip vte Other committee chairmen will be an- 58 Gillette Saf Ras(n) nounced Ilater. On improved Real Estate in the District of Columbia and nearby Maryland and Virginia for 3, § or 10 year terms on your 51,9 e Apply RANDALL H. HAGNER & COMPANY 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 blgbflt return of any safe investment, and now is the time for you: to take ldvmtty of it. SWARTZELL, RHEEM & HENSEY CoO. MORTGAGE BANKERS \711 15 STREET Qch/ WASHINGTON D.C. Stand Branas (13%). 4 Stand Comm Tob. Stand G&E (3%)... Stand O of Cal (23), Stand Ol oTN J(13). Stand (1.60). Sterling 860 (A).. 7 ‘ Heme Sterling Seo p£(1.20) 6 12% Stone & Webater (4). 4 Studebaker Corp (4). 22% Goodrich (B F) Sun Of) (11)... 54% Goodyear Tire (5) 80 ¢ Superheater (13% 5% GM;I::}’II'; i 1) 6 6 7 Sweets of Amer (1), Gran 'ver m: 44 Telautograph(11.35) Board plan. 020 D DNt ‘enn Cop & Ch €1).. Advances will be made on wool as| 43 29 Grant(WT) (1), Texas Corp (3).... received. This advance will be 25 cents 1% Grt Narth of (5) % Tex Guif Sulphur(4) & pound, which is approximately the §5 Gytnatis Oredn N, Texas PC&Oll. .. market price at present. A settlement 20 Grt Weat Sug(1.40), Texas Pac Land Tr. . will be made after the full delivery 12% Grigsby Grui Thermoid Co. . % Guantamamo e ,me;i ‘when stored with 37% Gulf States Third Nat Inv (2) #he Producers’ Co-operative Exchange, . VIRGINIA WOOL TRADE. ‘The sale of 40,000 unds of wool been announced the Eastern Virginia Wool Association. Sale was made through the United Wool Grow- ers’ Association on the Federal Farm ’Y 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 wavered a penny in value — have always paid promptly and in full every interest MORTGAGE LOAN CORRESPONDENT NEW YORK LIFE INSURANCE COMPANY 1321 Connecticut Ave. 7 Decatur 3600