Evening Star Newspaper, August 24, 1930, Page 64

ADVANCES IN BOND MARKET CONTINUE . Legal Rails Strong—Con- vertibles Are:Higher, With Gain in Stocks. BY DONALD C. BOLLES Associated Press Financial Writer. NEW YORK, August 23.—In a small $urnover, prices of bonds on the New York Btock Exchange today maintained the upward trend which has character- Ized the movement throughout the week. Legal railroad issues were buoyant. Atchison General 4s, widely held by savings banks, reached a new high for the year, and New York Central Re- !\mflnl 5s, and Union Pacific First 4s, mmlssuu. were strong. Utllities y traded and virtually un- sm prlvue'e issues which have been fluulsh most of the week showed an clination to advance in aymp.thy with stocks. Philadelphia Reading Coal and Iron 6s were strong. General Theaters 6s were in demand. Baltimore & Ohio convertible U}am:nd Royal Dutch war- rant ds were Foreign bonds fluctuated narrowly, and displayed a firm undertone, French, 1030 ieh, 101.3 QR 26 102.10 100.10 108.6 100.28 102. 9830 106.17 108. 109.4 101.16 113.14 109.24 841y Australia 102% Austria 7543 92 Bank of Chile 94 101% Belgium 107% Belgium 9914 Denmark 5%s 1955, 1031 Denmark 6s°42. 101% Dutch East Indi 101% Dutch East Indi 974 Finland 112% French 7 % 118 French T%s'41. 86% Ger Gov 638’65 wi 84'% German Bank % 105% German 9 125% 8% 90% 1064 UNITED STATES GOVERNMENT. h. Low. Close. 50030 101, 48 1021 1021 102.28 102.29 -.1 101.12 10112 -.2 196. 106, 107.31 108, 112.16 112.16 S ES 987% 984 984 87 884 104% 106% 98% 108% 108% 67 6T% 106% 105% ¥ 6l T6Y 100 100 105% 106% 90% 9k 217 F B 5 5% 99 99% 110% 110% 101% 101% 105% 105% 1024 102% 1024 1024 99% 100 119 119% 124% 124% 87 874 90 90 105% 108 LELI+ RrFrssxspes + +IL++ FESRESRE F FF F¥ (S8 Chi& N Utilities P& L 5% 8"47... Walworth és Walworth 6%s Western Union Wilson & Co 1st Youngstown Su Atch T & S Fead) 4895 Atch T & S F gen 4s Atch To & S Fe 4%s'48 Atlantic CL 1st ds ‘52 %! Boston & Maine Brooklyn Manh Canada National 4% #’5: Central Pacific 53 19! Chesapeake Corp bs Ches & Oh gén 4% Ch & East Ill gen Chi Great Wesi (1] ChiMStP&P5s'5 Chi M St P’ & P ad. NGTON, Hieh. Low. Close, Ohse. 90% 89% 90 + % 87% . 98% 109% 1.... 100% 1 6878, 108% RAILROAD. e TR FEEE FPERIEFER - L+t 4t ddbldr tadlbdti+2 - we D€, (Continued From Second Page.) . Stock and dividend. United Aircraft pt (3).. Utd Carbon (2).. United Cigar Sto: % United Corp (50c). United Corp pf (3).. United Dyewood. . .. United Dyewood pf (1) United Eleo Coal. ... United Fruit (4).. Utd €as & Improv (1.20) United Gas (mp of (5).. Unit Plece Dye W (2). .. Utd Plece Dywks pf 63 . United Stores A. .. Utd Strs pf (62%c¢). 3 = e S o 2 @ n g H £ =83 L4 2 s Freight (3)... lnduml Aleobol (17). Pl Llllhll'. A. Leather pr pf (7). pe&F'y 1st pf 1. ealty & Imp (5). aqgaqeaacagaag unRRnELe Univ Plehlnl 18t of (8. Ut Pwrll.l A (03). AUGUST 24, 1930—PART SIX Low. Closs. 62% Wel e e L R R A A A A NN EEEEF 6T% 12% 47 32% Warneér Quinlan Warren Bros (1) ‘ren Bros cv pf (3 Webster-Eisenlohr. r-Eisenlohr pf. ., Wesson Oil & Snow (3). Wesson O11 & 8n of (4). West Penn Elee A (1)... xu West Penn Elec pf ()., 10: West Penn Elee pt (7). . llo West Penn Power pf(§). Waest Penn Power pf (7). ll. Wesatern Dairy A (4).... Westinghouse Af Westingrouse B Westinghse E&M p: Weston Elee Inst (1).., West Vaco Chlorine(3). White Motors (2). White Rock M 8 (QUA). wing Mi . Woolworth Co (2. 4.)- . Worthington Pump. Worthngton Pump ATy Worthngton Pump B(§) Wrigley Wm (4)... Yale&Towne MIg(4). Yellow Trueck & Coach FINANCIAL, H Gividend. Wik Low. FM(IIO) 12% 4 Fon @ FEESE 65 26 56 cra 25 % :"?: 110 1+ + - 39 Union Tel (8).. 171% T++! 23" % 222% - S b ARl L4 ua-uo estimated l!cm ll(hh. ned Ana cholce o y sows, pounds, 200 T W Sinclair Oonsolidated OIl first half share, First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. i ux‘u': 8 NN Fhote Natisdal l'= oan “'IIM ”mdcmul Insurance Co., Itilfilldll_ tate. by ot g R R Joseph 1. w"‘ -u.'fik'm?‘ German and Japanese governments were 85% 85% 100% 100% 97 98 104% 106% 96% 97 125 12% 89% 89K 107% 107% 83l B4% 101% 102 00% 91% 103% 104% 10814 103% 70 70 91 91 9% 94% 81 86% 100% 9874 105% 9% 13% 90 107% 843 102% 81% 104% 108k 2% 92% 94% - 130 130 6% 8% Young S & T stpd (5)... 130 Zenith Radio.......... 7% RIGHTS—EXPIRE. % Albany PWP....June 14 & Int Nickel (Aug. 30) % 4 % Warn Br Pic Sept15.... 1% 1% 1dividend rates as given In the above DATIIAS bascd o8 the LEst Coarrly el Sornts B x ll"l’"lll‘ t hflw l!‘lm ‘The automobile column tn the classified section of today’'s Star for Packard’s list of used cars. PACKARD’S USED CARS: Vadasco Sales. Vanadium Steel (14) Van Raalte pf... Virginia-Caro Chem. Va-Caro Chem 6% pf. Va-Caro Chem pf (T) Va Elec & Pwer pf(6) ll Vulean Detinning (4).. Wabash...... ‘Waldorf !ylum (l %) Walworth Co (2). Ward Baking B.. ‘Warner Bros Pict. 2 sass !2!#::: P4 4+ 1+ 44 ‘There was little demand for U. S. Governments, only & few issues appear- ing in the day's transactions. e BANKING CONDITION IS DECLARED SOUND Examiner Finds Situation in West Is Not Working Hardships 9414 Italy 78 '51. 1013 Japanese §% 92 Kreug&Toll 5s ct 'l 10% Mexico 43 1904-64 85 Milan 6%4n’52 103 Netherlands 6s°72 80 New South Wal 100% Norway b%s. Chi & West Ind 5% % % CCC&StLrf4% CCC&StL6sD. Cleveland Term % FEFERE REESE RREE REFERFEEEE FR¥ FEyLER hht % 103% % FHE IFFII L+ 4D * IR S B SR THE COMMERCIAL NATIONAL BANK 4+ £ ‘Warner Bros. s g nlflntmurty and 92 Poland CHICAGO LIVE STOCK MARKET on Institutions. Speclal Dispatch to The Star. KANSAS CITY, Mo., August 23.— *“Banks managed by bankers are in a sound pumnn." sald & bank ex- aminer who has been working in the drought territory for eight weeks. ‘While the degnlu are off 20 per cent in the rural banks, the extreme care that 95% Queensland ¢ 1021 Queensiand 7 97 Rhinelbe 7 86 Rhine Wi 934 Riode Janeiro 8s 46, 64% Rio Grande Do 8ul 68 87 Rome 6%8s'52.. 93 Sao Paulo State of 8336 has been exercised during the t two years has kept them in a position where they can carry through the present depletion of credit without great dificulty. The that was good & year ago is good now. The most seriously hurt customers are cat- tle men. They made money for two previous yeul. some as high as 50 all right; if th‘y put IC into more land and have equity the drop in the mum my have wiped them out entirely. “The ecity banks have plenty of money to loan on cattle; prices are s0 low ss to make loan, Many banks are of the little not so well off—they have simply used up all ir money as d its have dgcr-r and loans have been slow. and the elosing of banks by thetr di- rectors. ‘The drought country does not need charity; it does loans at low rates until it can . Many sections are in no suffering condition and the situation is so spotted that it is required = special treatment for successful assistance.” BUSINESS OUTLOOK (Continued Prom First newer public utility 6 and 7 per eent ferred shares tha not yet lished meir Innmem nunl. Dut fully reflected 5 ical = , Kennecott, M‘!‘l!’epmm It includes In- preferred, Miami s :fluthnn Rallway and Mont- gomery Group 9. Stocks ylel&!n; from 10 to 13 per cent. This a mflns list, which now numbers lbom 70. It re- flects vvan more positively than do groups 7 and 8 the dividend ition ding its members, in which au- tomobile issues such as Nash, Mack Truck, Chrysler, Studebaker and Hud- son figure, also Cerro de Pasco and a large number of newly created stocks that were floated last year and on which premature dividends were de- clared in order to assist distribution. Group 10. Stocks ylelding 15 per cent and up. This is the smallest of all, with about 15 issues represented, When stocks enter the zone of 10 to 15 per cent income returns, it is apparent that the public has lost confidence in their lb“lrl to maintain going dividends. lelnl a long-range view, however, it 1s not improbable that from such shares will come the largest profits for those who have the courage to buy them at their present deflated quotations. One large investment trust has made a careful study of the after-effects of market panics and discovers that the purchasers of the discredited stocks at such times has fared better, both from an income and appreciation lundpolnt than he who confined his buying to the higher and less volatile type of Securities. (Copyrignt. 1030.) CEICAGO DAIB.Y HAIKET CHICAGO, August 23 (#).—Butter rices continued steady today despite ight offerings. Receivers reported heavier arrivals but held for prices higher than the buyer's !dn of value. Presh—93 score, 397 92 !fl%, 91, 37%; 90, 37; 89, 36; cemnmeu—w score, 88, 35'%. Plans Business Survey. NEW YORK, August 23 (#)—Charles A. Arnott, president of Vacuum Ofl Co., £atled on’ the liner Olymplo today for Europe to “look over our (onkn busi- nert interests and to survey the pros- bnuu ahead.” 93% Uruguay 6s 1960 824 Vienna 68 1952 70% Warsaw 78 1 96 Yokohama I.ISCILI.ANIOIIS.O“ 97 Alleghany Co cv 102% Am Agri Chem 7 624 Am Beet Suga 98 Am Internation 538 ‘49 70 Am Natursl G $%8'42 100% Am Sm & Ref 18t 6847, 102% Am Sugar Ref 68 ‘37 187% Am TelaTal cv %e'd 100% Am Tel & Tel st b 69 Am Writ Pap 6847, 87% Armour & Co 43%8'39. .. 80 Armour of Del 5% 100 Atlantic Rof deb bs '37 102% Bell Tel (Pa) ret 5 99% Beth Steel pm 5 964 Duquesne 4¥%s 52 East Cuba Sug 7%s '3' 106 Goodrich (B F) 90% Goodyear Rub 681 101% Humble O & R 6%s 91 Inland Steel ¢ 978 91 Inter Ceme: 97 Inter Matol 96% Inter Mer Marin 81 Inter Paper bs A ‘¢ 105 Int Tel&Telev 4% 95% Kan Gas & Elec 4%4880.., 74% Kendall 5%s°48 (war) 102 Laclede5%s D 100 Montana Power 95 Nat Dairy Prod § 21% Nat Radiator 6348 108% New England Tel 68 '52 111% N Y Edison ll.l S%e4l... Para-] “K l’lfll‘dbfll Co 91 Phil&Read C&l 6 90 Philips Petrolm 91 Postal Tel & Cab 97 Sinclair Crude OILI 94% Sinclair Pipe Lin 108 Bouthwes IW% !llnd 8“ NJ 1 MARGIN BUYING 100% 99% 100% % 104 105 98% 98% LUL4Ed 41 FESEFE KR 0% 90% 98 98 107% 107% 858 86% 96% 96% 104% 105 100% 100% 4 104% 105 96 96 ) - 85% 86 TI% T8% 97 9% 99 9914 102% 104% 63% 634 101% 101% 106 106 98 98% 6% TT% 4 102% 103% 104 104 160 161 106 106% (EE AR AT SR AR EEFEEELFFES AR E¥ ¥ 102% 102% 105% 10614 101% 102% I+ Bl - 106% 106% % 95 1024 102% 62 52 963 963 103% 108% 106 106% 98 93% 102% 108 96% 9T 101% 101% = 1+ F OFFE EEEEE 1) - 2 N NY New NY NY NY N N Flt4+ 40 BESF FEEEREZS 108% 1104 5% 95% 4% 4% 108% 103% 102 102 108% 108% 9 9% + 21% 21% 107% 107% 114% 114% 101% 101% 107 107% 100% 100% 103 103% 102% 108 =3 RS $385 seFreesss FHbE Al L 104% 104% 1023 102% 101% 102 105% 106% ++ 401 1 22585 28 OF STOCKS HELD NOT CAUSE OF RECOVERY Accumulation by Investors Is Believed Reason for Recent Advances in Market. Loans at Low Figure. BY PRESTON 8. KRECKER. Spectal Dispatch to The NEW YORK, August 23.—Buying of stocks on margin apparently has been less of & factor in the recent recov« ery in prices on the New York Stock Exchange than accumulation by in- vestors able to finance their purchases without the aid of brokers' loans. That is the only valid explanation of the fact that brokers reported a decrease of $27,000,000 in loans during the last week, On the basis of that decline loans have declined to the lowest aggre- gate amount in about three years. They are but little more than one-half of what they were at this time a year ago. New York Stock Exchange statistics show that the ratio of brokers' loans to the total value of securities on the exchange is the lowest it has been since records have been kept. 1t is obvious that the technical posi- tion o!a ’t:el lmc‘: mlrntedhu been cor- res| gly strengthent brofl:u loans are concerned, then, there is nothing to worry about. Total Loans on Sccurities. In the case of total loans on securities one cannot be quite so sure of the liquidity of the market, Statistics show that only about one-fourth of all the money tied up in security loans been loaned through brokers. The latest es on brokers' loans make the total ,128,000,000. Total known loans on securities of which statistics have been compiled -w,- Jurle 30, the latest date to which any are availal ‘Those gathered by the Federal i{‘:‘mo Board in Washington. lete the board 'l‘hzy are the most com has blzd Heretofore itsel? ever the board's figures included onl lol!: of brokers in the New York Reserve district and loans of npfl: ing member banks of the Federal serve System. They excluded loans by member banks which do not make weekly reports- to the board. The board recently r‘oughb o _obtain more complete figul en.lhnnl the ald of the controller ol’ currency in obtaining loan figures of member banks which do not make weekly reports to the e, therefore, it has been possible to arrive at a comprehensive figure on total member bank and brokers’ loans on securities. All Loans Not Included. ‘The aggregate of $12,050, 000000 loans on securities as compiled 8o far as|Fed Ert lien 4 Erie ret 58 '67 Flor East Coast FondaJ & G 4348 '52. Grand Trunk s £ deb 6 Grand Trunk 7s '40. Great North 4348 7 Great Nor gen 5% Great North gen 1 Hud @& Man ref Ilinots C Illinojs Central 4 Inter Rapid Tran Inter Rap Tr bs & Inter Rapid Tran Inter Raptd T Inter Gt Nor adj '65. Inter Ry Cent Am 6% Kan City South 3s 195 Kan City South 68 Kan City Ter Lake Shore 48 Louls & Nash unl ¢s "40 Market St Ry 78 A *40 Mo Kan & Tex pr In IIA Mo Pacific gen ¢ Mo Pacific 5s A Mo Pacific 58 Mo Paclfic 68 G. Mobile & Ohlo 4% 43 Pt gn" 23% = 3] 2 g H North Pacific 3s lfil‘l . North Pacific 4s'97 North Pacific 58 D 2047 North Pacifio r 1 6s 2047 Ore Wash 1st South Pacific col South Paecific ref South Pacific 4 %8 Union Pacie 1at 4 Union Pacific 48 B8 Un Paste ret ta 3008 Virginia Ry 1st 6 Va Ry & Power &5 bt FEEFEER 4144 s wxsF xezs t ref +1 ++ \ ) o EE o+ 440 5.8 2y 44+ A=t FEEEFE FEEE b+ f#fii‘## 3 ++1+ *S#fl - #S‘#‘# EEE F A AL A + | “Fele"Srssess 5 " - R e s AL R FEREEESEE FE ¥ It such lenders and non-member hnh' of r than of more than $1: 000000000 given by the Federal Reserve Board. The board has also assembled fig- ures for quarterly periods as far back as 1898, Those show that the total security loans, so far as available, are the smallest the period covered, or S e ket of Joans ot the, pea gran of at the last October 4 was $1 t,ooo.lm?-k Drop of 30 Per Cent. ‘The decrease in total loans mdently has been much less than the in brokers' loans for, vmnu the lat- ter now are less than one-half of what they were last Oember. the combined bank and brokers’ on_securities have diminished onl; lbolll 30 per cent. ‘The Muctkn w made from those statistics is too much money s still tied up 1n nu:urlua. the bur- den of effecting deflation rests on banks and not on stock brokers. (Copyright, 1930.) — SENATE CANDIDATES SPEND BUT 81 CENTS West Virginia Democrats File Ex- pense Accounts, Revealing Low Expenditures. CHARLESTON, W. Va., (#)—It would seem - there will be no need of a Con- gressional investigation of expenditures e vy Democratic candidates for United Exchange not embraced in the member bank figures. While those are the most complete statistics ever compiled they | ti yet do not embrace all loans on securi- has | ties. There are hsuu banks _which ted $13,080,000,000 on | bers of the States Senator from West Virginia. Former Senator M. M. Neely, who in the latter rt of the campaign was unopposed for the Democratic nomina- lon, filed a statement recording ex- penses of but 14 cents, the cost of mufln and munl.nl his_certificate ‘Wallace of llunun‘mn vho wit :u" mu.l’-u & con! dime. Ren\ mmgmo(mo erty CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, August 23 (#).—The following is today's summary of im- portant corporation news prepared by Standard Statistics Co., Inc.,, New York, for the Associated Press: News Trend. Corporation news is largely of an unrlvonhle character. A receivership been flled against Warner Bms lncmrenmu{ueflm colln;‘plny ‘“ 1‘:: Sotikplraey wil nwar, Inc., whic bought real estate at fair pneel and sold it to Warner Bros. at exorbitant profit. Cenada Steamship Lines have deferred dividend on eumu- Iative preferred stock. Of & favorable nature was the statement of American Tobacco sales for July, which show “Lucky Strike” sales continued at rec- ord levels. City Fuel first half earn- ings recorded moderate improvement over last year's ts. Bank clearings for the week declined sharply from & year ‘Total ex- changes in principal cities were 33.4 g'er cent smaller than a year ago, with York City’s aggregate declining 388 per cent and outside cities 20.8 cent. The decreased stock mar- m activity accounts for a good por- tlon of the New York decline. Chemical=—American Producers’ As- soclation chsr!'a Russian manganese i3 sold at Atlantic seaboard by Soviet agencies for 25 cents per unit, while American industry could not produce Wheeling & hkl Erie Railway re- allocation to Chesapeake & Ohio-New York, Chi instead Wal system under tion plan. I.nul'lnum afflia- tion tvam Plt & ‘West_Vir- ginia and opposing nequumon by {ormu' Goodyear Tire & Rubber Te- duction output in September 38,000 :‘:3‘00 daily from present output of Rossia Insurance, thmuh one of its affiliated companies, has acquired con- trol of the Metropolitan Fire Insurance Co. ‘Through a mechanical error, it recently in this tabula- |8 tion that the conp‘ny lulnnd wu the uewvouun Insurance Co. Associated Press hku this mnmmlty to rectify the matter. GRAIN MARKET ‘Wheat, Corn and Oats Are ll[hr on Bullish News. CHICAGO, August 23 (#).—Prospects that the use of wheat as feed this sea- will be mmmommvn ?I:muchl:’hcmnll l%ll% - finish. losed 5alY, up, oats Vflfi“ advanced, and un- nnnd ‘n & rise of 15 cents. shortage of as the all-i mnt-r!ntm trade atten! on statement from one of the leading com- mission_houses lpnlhhmm as to the extent of wheat was lnoomm profitably for less than 60 cents per|al !. Om!ecu ry—Cocon futures drop new low; osne;umber clossd at 7 cents to fed Mining and smelting—July world out- | Whil put refined lead 151,356 short tons vs. 160,541 in June and 157,270 in May, | per according to Metal Statistics. Oll—Pennsylvania crude price ad- vanced by l\u!kl, National Transit m water Pipe Co. and s, shndnnl Oll Cos., New Jersey, Indiana and California introduce new fl' gasoline trade-marked “Stanavo,” Incd specifically for aviation en- nummm.—nem declining oon- struction activities throughout rest of world, American yards were busier on June 30, last, than at any time since 1920, Principal domestic shipbuilding companies are currently experiencing very satisfactory profits, and with con- tinuation of present rate of operations assured for at least next four or five years, those yards having facilities for constructing larger merchant vessels will benefit accordingly. Securities of such tions are not avallable to the pul and participation can only be secured indirectly Steel—Heavy melung scrap steel sold district; in American Cigar July nlu increased 13,074,000 units, and seven months, 74,- l“ m over 1020 periods. rican Tobacco July anky m- M new high record unued 583,000,000 units over uo seventh months sales, 3,539,000,000 above 1920 Avia mponuon (Delaware) car- between New passengers same period, or more than double business in like period year ago. Bendix Aviation earned 73 cents com- mon share in first half, against $2.56 year ago. Ouwdl S. 8, Lines, Ltd, to defer 1.50 quarterly cumulnfln preferred dlmlmd due October 1 City & Fuel earned $2.53 common share in first seven months, against $2.41 & year ago. Federal Water Service earned $3 per class A share in 12 months to June 30, against $3.12 & year ago. International Telwhnne & 'rnleirlph Brasillan subsidiary granted operate international radio, wephnm and telegraph service for period of 10 years. Jewel Tea sales, four weeks to Au- gust 9, off 10.8 per cent; 28 weeks, 5.8 per cent below year ago. Average num- ber sales routes, 28 weeks, 1,233, against 1, I'IO in 1929 period. McCesson & Robbins earned 61 cents & common share in first half. New England Power Association July profit before depreciation up 2 per cent; seven months, up 18 per cent. Noranda Mines buys -umnuu in- terest in Canada Wire & Cabl Phillips Petroleum plans 12 lddltlunl! filling stations for Denver. Swedish Match gets Guatemala match monopoly for 30 years in return for $2,500,000 7 per cent loan. Thompson Starrett Co. earned 34 cents a common share in quarter to July 31, Uncompleted contracts July 31 totaled $30,205,623, against $19,796,- 4!2 !fll‘ ago. ted Alrcraft & Transport to hold one-llxth interest in Aviation Corpora- tion of the Americas as result of New York, Rio & Buenos Alres acquisition. United Verde Copper receives tax re- fund $608,285 for overassessment 1918 income and profit tax. ‘Warner Bros. Pictures stockholder files receivership action against com- pany and Renwar, Inc, in Chancery Court, Wilmington, Del.; charges exces- allowed to be paid ase real ond thes Iatter was the American Bureau of | gr! » - 73 Faant CHICAGO, August 23 (#) (United 3tates Department Agriculture) —cnuc. 500 head; compared a_ week steers and yelrllnn, 15a1.50 her' mostly 1.00a2.00 over last week’ time; she stock unevenly 50a1.00 Mr stockers and feeders, 50875 u lls in |steady and vealers 50a1.00 usually active market on all clnul closed firm at advance; extreme top nI;-ll.nu. 11.75; mixed mllnu, 11.60; fer , 11, hi pproximatel rnnrl arrived; mht Killers up to 8.00, hea e | feeders to 8.00, grass ux:o!’un to 9. llm rnders. 1 oon u 50 higher; wether lambs, l‘m FIRST Let us serve you in all banking and fiduciary matters. Interest nll on uv(nu acoounts from day of deposit to day of Resources over $19,000,000 WADE H: COOPER, President 14th and G Streets Man over 40 with at least 5 years Stock and Bond selling experience to sell 5% guaranteed investment backed by Company whose finan~ cial responsibility is' unquestioned. .First-class reference required. Answer by letter only, giving full particulars regarding yourself. Address Box 101-H, Star Office MORTGAGES THERE IS NO RISK OF JUDGMENT in choosing for a safe investment our Over a Third of a Century Without a Loss 6% FIRST MORTGAGES Our record of over a' third of a century without loss to a customer is surety indeed. The principal is fully secured by improved real es: | tate which we have conservatively appraised. May be purchased in amounts from $250 up. B. E. SAM3 €8 National 2100 THERE 925 15th St. N.'W. IS NO SUBSTITUTE FOR SAFETY WEAVER BROS,, INC. Realtors Announce the Removal of Their Office From 809 Fifteenth Street, N.W. to the WASHINGTON BUILDING August Twenty-fifth WASHINGTON, D. C. Phone Fifteenth and New York Avenue District 9486