Evening Star Newspaper, September 5, 1930, Page 13

FINANCIAL. J}ARPEL 60. STOCK NEW YORK STOCK EXCHANGE JULY DEPOSITS OFF STOCKS IN ADVANCE|INVESTMENT TRUST " sk riwore suwes |ON LIGHT TURNOVER| SHARES REVIEWED f‘fi”:..‘“m%% m—AII stocks hundred-share_flots v.1930~ Stock and Sales— bt “fl.-lveh I-flu s (80s) (2508) ll;h% Low. unma Rate. mnmh 61% Kl Storage Bat (5)... 2 DA e e ‘Lynch Joins Board of Direc- gg“ 37% tors of Washington 2 Mechanics’ Bank. i S% 35% BY EDWARD C. STONE. HH Btock of the Carpel Corporation led | ‘g5 trading on the Washington Stock Ex-{ S1% change today, 328 shares figuring in the }‘& day's turnover. The BBy food stock opened 215 ‘with 50 shares sell S 1561 lm at 2!"6 follow~ inj 150_shares flln‘ at 24 and 50 more at 24%a. The _stock ol with 28 shares moving at. 24 fi fat. “hm"m 111 way Bieciric - 1008 retmed sold at 335 37’4. and 10 shares . 69% o(conunenm B t Co. stock at Whs- felttd‘ in the pond Thomas J. Groom. *Traction 5s opened the trading Et‘ g‘l“‘tl 000 Potomac Electric Power 6s sold at )M. $1,000 at 10815 and $1,000| 39%; at- 100, while $3,000 Potomac Electric | 145 ated 5s Appeared on the board 1:9’% k) o Gas 5s moved at 104 and | 3s; $1,000 Washington Railway & Electric sk t at 89%% o ‘.'l?l:;“eu:;:sted stocks were called off | 103% and showed very few price changes dur-|. 43% ing the week. o Lynch Made Bank Director. e S E. Lynch was added to the| 268 b:fdufi Birestors of the Washington | 271 Mechanics Savings Bank at a meeting | 274y yesterday afternoon. Mr. Lynch is as- 126 istant corporation counsel of the Dis-} 2691 triot and has been prominent in legal | 12915 circles in Washington for & number of | 126 years. Announcement of his election | 124% Wwas made today by President Ezra| 106% Gould. Reserve Credit Up IHMG;:;’ 5 The daily average volume of eral Reserve Bank credit outstanding_dur- ing the wnek ended bember 3, “. reported by the anl I 4% was_$1,028,000,000, an incu - 18% m, compared with nteeodlnn 28% and a decrease of nm ,000, | 5019 mpsud with the corresponding week: ';‘(A)i‘i in 1929. s tember 3 total Reserve bank | 175! mod!i‘t a:r);’lounwd to $1,041,000,000, an :f;: increase of $57,000,000 for the week. iy This increase corresponds with an in-| 198 crease of $65,000,000 in money in clr-_ . culation and decreases of $8,000,000 Fri monetary gold stock and $14,000,000 ln 9’; treasury currency, offset in part by & defl:u! of snooooon in member bank | 38 122% old o! dl.scollmnd bills increased H ‘8& during the week, the prin. hanges being increases of $32.- 000,000 at the Federal Reserve Bank of New York and $3,000,000 each at Atlanta and St. Louis. . Land Banks Weather Drought. drought u) the Fed- ko Bonka il be siighi due to the fact that mon of the sections lflecled lie within the territories of the t banks and the percentage of bonds. ture rt is a summary e “l g:endm%on of the Federal 112‘- 2t 89% enl:uu '-he Raleigh Hotel. 'm-m include memben ot e tacully, oMosrs, hoard of & and board of ‘emmla Chapter, Plans tflr ope R et m will speak on the “Power n! Individualism.” )(; hfl.‘“h,:l t here many times an He Moed Jaw In New York for 12 - accountant, Anfl m the ll«udy 22, will aduate of the banki: r;‘:er assistant nation: r. At the coming dinner. Aubrey O. Dooley, educational wmmiuee, will pre- hanx M. Perley is the chapter president; Groam Centinues fo Improve, ‘Thomas J. Groom, vice president and cashier of the Bank of Commerce & continues to improve steadily the sutomobile accident in | 105 was severely injured last | 191% Bunmy He 1s confined at the George- | 52 town Hospital to which he was rushed | 647 from ville. It is expected he will | 35% be back at his office in about a month, | 77 perhaps sooner. Mr. Groom is one of | 87 the youngest bank officials in the city | 110 and went to his present position from | 37% the Washington Mechanics Savings | 199 Bank. He has a law degree and is a n. u-nuhl-h-lh lots only. Sales— 1930~ Stock and Low. Dividend Rate A 21 Abitibf Pow & Paper 42 Abraham Strauss. 21% Adams Exp (1.60)... 8 Advance Rumley.... 103% Alr Re@uction (3)... 16 Air Way El Ap (2%). 1 Ajax Rubber . 4% Alaska Juneau i 18 Allegheny Corp..... 232 Allled Ch & Dy (n6). 121 Allied Ch & D pf (7). 48% Allis Chalmers (3).. 18 Amerada Corp (2) 4% Am Agricul Chem, 28 Am Agricul Chpf. 27 Am Bosch Magnet 8% Am Brown Bov El 108% Am Can (4). 42 Am Car & Fdy 39 Am Chain“(3). 36% Am Chicle (13) 9% Am Com Alcoh 15 Am Encaustic (1 56% Am & For Power 95 Am & For Pw pf 106% Am & For Pw pf (T 9215 Am & For Pow 24 pf. 1315 AmHawailan ($10). 55 Am Home Pr (4.20). 31 AmIce (14). 28% Am Internatl (2) 39 Am Locomotive (4). 35% Am Mch & Fdy Co 28K Am Metai Co (1%) Am P & L pf-A st (5) Am Pow & Lt pf (6). 23% Am R & St San (1%) 1264 Am Rad &S S pt (7). 48 Am Roll Mill (n2)... 52% Am Safety Razor (5) 1% Am Ship & Com..... 467 Am Shipbuilding (5) 53 Am Sm & Ref (4)... 101 Am Sm & Ref pf (8). 38 Am Snuft t(3%) 35% Am Steel Fdy (3). 47 Am Sugar Ref (5). 9% Am Suma‘ra Tob. .., 16 Am Tel & Cable (5 200% Am Tel & Tel (9) 118 Am Tobacco (new).. 197 Am Tobacco B (112), 117 Am Tobacco B new. 120 Am Tobacco pt (8) 78% Am Water Wks (n1). 9915 Am Wat W 1st pf (6) 19% Am Woolen pf. 6 Am Zinc Lead & Sm.. 44% Anaconda Cop (3%), 18 AndesCopper (13%).. 19% Archer-Dan-M (2)... 4% Armour of I1l (A)..e. 2% Armour of 111 (B).., 5 Arnold Constable. ... 24 Art Metal Const (2). 28 Asso Dry G (234). 194 Atch To & 8 Fe (10). 1025% Atch To & S F pt (5). 144 Atl Coast Line(10). 49% AtGulf & W Ind (2). 30% At Refining (12). 101 Atlas Powder pf (6). 251 Atlas Stores (n1) 91 Auburn Auto (J4). 37 Auto Strap Saf R(3). 4% Aviation Corp of Del 19% Baldwin Loco (lfl). 964 Balo & Ohio (7).... 110% 106% Bamberger pf m/.) uo. ). Pf M. 121 Barker Bros (2). 20 Barns: Bendix Aviation (2). Best & Co (2).. ethlehem Stee! Bethlehem St pt ( Bohn Alumasr(l%) Borden Co (K3)..... Borg Warner (3) 4 Botany Con M (A). Briggs Mfg Co. . Broekway Mot T Bklyp-Man Tr pf ( ) 3klin & Queens. Bklyn & Queens pf 15 - Bkiym Union Gas (5) Burns Bros (B). Burr Add Mach (1) 60% % Callahan Zine & L 47% Calumet & Arizona.. Calum & Hec (a1%). CampbeH Wyant (2). Canada-Dry G A (8), Canadian Paelf (10). Can Pacific new..... Capital Admin (A) Case (J1) (6)., . Caterpil Tr (13%). .. CelotexCo. . Cent Aguirre As 1% Cerro de Pasco (6) 5% Certain-teed Prod. ., 44% Ches & Ohlo (2%)... 51% Chesgpeake Corp (3) 3 Chic& Alton, S 21 Chic & Alton pf. 8% Chic Great Western, 27 - Chic Great West pf.. 121 Chie Mil St P & Pac.. 66 . Chicago & N'W (5).. 11% Chic Pneu Tool. . 98 ChicRI&PDSf (8).. 25 Chi YellowCab (3)... . Chickasha Cotton Of1 48 Childs Co (2.40). 24 Chrysler Corp (3)... 38 Citylce & F (k3.60). 5% City Stores (50c) . ¢ 85% City StoresA (33%). 911 Cluett-Peabdy pf (1) 133% Coca<Cola (8). 481 Coca-Cola A (3). 50 Colgate-Pal-! P(?‘/l). 14% Collins & Atkman. 86% Col Fuel & Iron (2).. 55 Col Gas & Kl (2).... 104% Col Gas & El pf A () 124 Col Graph (a28c).... 108 Columbian Carb (16) 23% Comm Credit (2).... d 00. High. Low. Close. 1 2% 21% 9 52 50 52 B 26% 264 26% 2 104 9% 13 124% 122% 32 18 16% 50 1% 1 AT 6% 5% u 22% 21% 7217 218 H 126% 1264% 101% 101 424 42% 103% 108% 40 37% 54% 534 11% 11% 20% 20% 215 212 123% 1283% 263 258 1 7% 126% 126% 126% 9% 89 104% 104% 28% ‘ol 9% 45% 102% 102% 32% 31% 115 % 7 6% 5% 442 3% 30% 2 100% 100% !0' 00 127% 126% 26% 26% K 8% 30 29% 4 4 20% 19% 16% 16% 10 10 ° 221 22% 35% 35% 8% B4 11% 1% 27% - 26% 27% 2% 00 100 23% 23% 34% 3% 109% 109% 2% 2% 1% 1% 6% 3% 2 7 4 L3 1 2 2 4 3 &« Lo » oo e 50! 12 2 6 3 11 55 5 351 1 2 member of the District bar. Notes in Financial District. Albext S. Gatley, vice president of the Lincoln National Bank, is now resting at Ocean City, Md, while re- | covering from an operation. Mr. Gat- ley, who has been treasurer of the Dis- trict Bankers' Assoclation for more than two decades, is sm\d to be mak- inE satisfactory progre: dward M. Johnson of Syracuse, 'N. Y., will ‘address the luncheon meeting of the District of Columbia Life Un- derwriters Association at the Hay- Adams House Thursday. His subject will be, “If 1 Were Selling Life Insur- ance.” Johnson has been a lecturer on creative salesmanship for the last 15 _years, William Knowles Cooper addressed the Rotary Club at York, Pa., Wednes- day. While there he was informed that @ recent survey showed that in that city of almost 50,000 inhabitants there were only 1,500 people unemployed Practically all the industries are owned locally and in some way the managers were able to prevent any heavy lay-offs. It is doubtful if any other industrial city in the United States has made such an enviable record. T. Hunton Leith, member of the Na- tional Council of the American Insti- tute of Banking, is on a trip South as- sisting in planning. the work of various chapters for the oomtnl year. He made & particularly important visit at At- lln'A. Mr. Leith is assistant cashier of the Security Savings & Commercial Bank and has done splendid work for the institute. ‘The Council of Administration of the District Bankers' Association transacted Toutine business at a meeting yesterday afternoon. The Protective Committee meets late today. ‘Mr. and Mrs. M. Shorter, 'ho rvetnh celebrated their sixty-seventh wed Aanniversary at have ll t-grandchildren. 22 Comm Credit pf B(2) 808 76% Comm Cred 15t (6%) 308 28% Com In Tr (£1.60)... 15 20% Comm Solvents (11), 155 12% Comwith & So (60c). 12 99 Comwlth & So pf (6) u 10% Congoleum-Nairn, 36 Consol Cigars (5) 67 Consol Cig pr pt Hfi 50- 16% Consol Film (2). . 18 Consol Film pf (2).. 1 96% Consol Gas N Y (4). 9914 Cons Gas N Y pf (5). 11% Container A (1.20) 18'% Contl Baking A. 3% Contl Baking B, 66% Contl Baking pf (8), 50 ContlCan (2%)..... 50 Contl Insur (2.40)... 31 Contl Motors. .... 18% Contl Ol1 of Del 16% Cont] Shares (1) 8814 Corn Pr Ref (14 %) 140 Corn Prodpf (7).... 30! 16% Coty Inc. ...... 104 Cruelb szux»un"m. 9 4 Cuban-Amer Sugar.. 32% Cu -Amer Sug pf. 15 Cu Dom Sugar... 3814 Cudahy Packing (4). 105% Curtis Pub (1634). .. 114% Curtis Publish pf (7) Wright Corp WrCorpA.. 24% Davison Chemical. .. 146 Delaware & Hud (9). 195% Detroit Edison (8)... 139 Diamond Match (3) 6% Dome Mines (1).. 18 Dom Stores (11.20) 67 Drug Corporat (4). 16% Dunhill Intl (34). .. 95% Du Pont de N (14.70) 114% Du P de N deb pf (6). 14 East Roll Mill (ht2), 176% Eastman Kodak (8). 19% Eaton Axle &S (3).. Bitington-Sehild. 86 108% 1065 2 104% 104% 6, 16% 7212 212 4 18% 102% 102% 1 12 37% 704 70 18% 18% 20 20 4 S'I'"A 33% % 40‘. 40% 114 112 120 ° 120 6% 6l 8% 84 28 268 168 168 245 240 8% 8% 19 18% 19 82 80% 82 234 214 224 119% 116% 119 120% 120 1204 14 13% 134 218% 216% 218% 23% 231 284 5% B% Bk K 130 %« Equit Office Bl Eng Pub Sv of (534). HE 3) 2 Erie R R Fairbanks Co pf. Fairbanke Morse (3) Fash Pk Assopt (7). 1oo-v Fed Lt & Trac pt (6). Fed Wat 8 A (e2.40). Fe ated Dept Strs, ¥id Ph Fire In (2.60) Firest T& R (1.60).. First Nat Strs (2%). Fisk Rub 1st pf cv. Foster Wheeler (2) Fourth Natl Invest Fox Film (&) (4) Freeport Tex (15, Gen Am Investor) Gen Am T’k Car (34) Gen Asphalt (4). Gen Bronze (1) Gen Cable pf-(7 ¢ Gen Cigar (4) Gen Electric (1.60) % Gen Elec spee (600) .. ll!i 70" 1% 5596 Gen Food Corp (3) .+ Gen G & El A (e.30), GenG&EIPLA (1)1, GenG &EIptA (8). 108 Gen Mills (3),. 1 Gen Mills pt.(6). .. Gen Motors (3.40) Gen Motors pf (5). Gen Ry Signal (5). Gen Realty & Util, ... Gen Refract (M¥%).. Gen Steel Cast pt (§) Gen Theatre Equip. . Gillette Saf Raz (n§) Gimbel Bros. .. ..... Glidden Co (1.30)... Gold Dust (234) .40, Goodrich (B F) . Goodyear Tire (5). Gotham Silk Hoslery Gould Copper. . & Graham-Paige. ... Granby Con Min (3), Granite City 8tl (4).. Grant (WT) (1). Gr North pf et (5). Gr Nor ctf Ore (a%). Gr West Sug (1.40),. Gr West Sug pf (1) Grigsby Grunow. ... Gulf States Steel (4) Hackensack W (134) Hahn Dept Stores. .. Hahn Dept S pf (63%) H-u (WF) Pr Co (2). - $ 83 enten g H o % rl [ S 5 o H EL U RETN- PTSIRTRR IR ST H-nm-n Corp (B)... Helme (Geo H) (17), Hercules Powd (3) Hershey Choe (5). ... Hersh Choe pf (15) .. Hershey Ch pr pf(6). Holland Fur (et2%). Houdaille-H (B) 1.20 Houston Ofl (b10%). Hud&Man Ry (3.50). Hudson Motors (3).. Hupp Motor Car (2). Iliinols Central (7).« Independ O & G (2) Indian Refining. . Ins ctfs (Md) (60¢) Interboro Rap Tran.. Intercont Rubber. Int Agricultural. Intl Bus Mach (né) Intl Carriers (25c). Intl Cement (4) .\ . ve Intl Combustl, Intl Har' v (234). Int Harvester pt (7). Intl Hydro E1 A (e2) Intl Mateh pf (..., Intl Nick of Can (1). Int Niek Can pt (7) IntIPap& P (A) 2 Intl Pap & Pow (B) Intl Pap & Pow (C).. Intl Pap & P pf (7)., Intl Printing Ink (3) Int Print Tnkpf (6).. Int Rys Cen A Pt (5). 1 13 Int] Salt (3)... Intl Tel & Tel (2) Inter Dept Strs (1 IntertypeCorp (2)..x Investors Equity (3). 1 F 3dwel Tea (14).. Johns-Manville (3). Jordan Motor Car.. = 2 o Pasuusudnossgaunenlu Kpn. City Sou (5). Karstadt (R) (1.03).. l1 xuy r Julius (2%). 18 Kelly-Spring Tire... 202 Kelly-Spring 6% pf.. 70s Kelly-Spring 8% pf. Mm- Kelsey Hayes (2) 7% Kelvinator Corp, r(2) 81 . 8 K’”l‘ Kreug & Toll (1. 6).. 127 Krok Gr & Bak (n1)’. Lambert Co (8) . Y4’ Lee Rubber & T 45% 52% T1% Leh Port Cem pf (7 Lehigh Valley Coal Lehman Corp (3) Lehn & Fiok (3). Lig & Myers B Ligg & Myers pf (7 Lima Locomotive Liquid Carboenie ( Loew's Inc (3). YToew's Inc pf ( Louts & N Ludlum 8 MacAnd & F (12.85). | 2 McKeespt T P(15%). 10 McKesson & Rob (1) Minn Moline Pow. MStP&SSM Newton Steel (2) N Y-Airbrake (3.60), N Y Central (8).. . N Y Ch & St L pf (8). N YNH& Hart (6).. NYNH&HDL(T).. Norf & Western (10) Norf & West pf (4).. 108 North Am Aviation.. 10 Nor Am (b10%stk).. 75 North Amer pf (3)... 1 Northern Pacific (§). 6 Norwalk T & R pf... 108 Ohio 011 Co (2). . 6 Of1 Well Supply..... 011 Well Sup pf (7)., ll)l Oliver Farm Equip.. 45 OUVFEqpfA (6)... 2 Ollv Farm Eqevpf.. b tis Elevn (2%).... 1 wens 111 Glass (3).. 1 Pacific Gas & Bl (2).. 3 Pacific Lighting (3). 2 Pacific Tel & Tel (7). 608 68% 66% 68N 1% 69. 71 100% 100% 100% 12% Packard Motor (1).. (Continued on Page 14.) mistic Reports 6n Re- tail Trade.: . - BY CLAUDE A. JAGGER, Associated Press Financtal Edifot. NEW YORK, September '5—After struggling with the stock market for two days and barely scratehing its sur- face, bears decided today that for the moment it was too hard a nut to crack, and precipitated a brisk upturn in share prices as they bought back the stocks sold short. More optimistic reports regarding re- tail trade, and maintenance of a good investment demand for bonds and pre- ferred stocks were regarded as evidence that.the public purse was still far from flat, and inspired renewed optimism in some speculative quarters. The turn~ over in stocks, however, remained light, as the upturn reflected an extreme scar- city of sellers, rather than any con- siderable number of buyers. The advance was confined largely to manufacturing issués, amusements, mer- chandising shares and: specialties. Oils and ‘coppers and .most of the utilities and rafls made lttle headway. Such shares as United States Steel, American Can, Sears Roebuck, Woolworth, Best, Loew's, Fox, Corn Products, Dupont, Air Reduction, American Water Works, New York Central, Preeport Texas and ) | Curtiss Publishing gained 2 to 3 points. Checker and Parmelee were strong, re- flecting merger prospects, and several of the low-priced rubbers turned up- ward. Macy, Worthington, Eastman, Auburn, Case and Diamond rose 4 to more than 6. Radio and Columbia Graphophone were firm. The advance was well maintained despite profit taking, especially in the steels, late in the final hour, Utilities, which had lagged behind the indus- trials, amusements, merchandising shares and specialties, joined the n\!y and the food shares were also under ac- cumulation. United States Steel, Amer- ican Can, Vanadium, American Tele- g ne, American Water Works, National lscult. Standard Gas & Electric and Electric Power & Light gained 2 to 3 points, althe there were some reces- sions from the tops. A few volatile lhlrel sold up 4 to more than 7. The ‘was strong. Sales approximated 1,700,000 shares. Markets at a Glance NEW YORK, September 5§ (P)— 7 entative shares in nds, strong; market improves on larger t\u'rmver. Curb, firm; gains mrnn dull market. Forel exchange, easy; .sterling and Prench francs under preuun Cotton, steady; bullish . private crop reports. Sugar, em increased spat offerings. Coffee, lower; European selling. CHICAGO, September 5 () —Wheat, beneficial rains. in Kansas. OCattle, steady. Hogs, higher. i NEW SECURITIES NEW YORK, September § (fl’)—New securities offered today include: Milwaukee County, Wis., $2,000,000 4% per cent bonds to yleld from 3.50 to 4 per cent, by syndicate headed by Har- ris, Forbes & City of Portland; omtt 800,000 4 per cent bonds o m 3.76 to 4.0 pn oent.. M NEW YORK BANK STOCKS NEW YORK, September § (#).—Over- the-counter mgrket. Trust Companies. Bld. Asked. Bankers .....iw. v 1487 7149 Cent Hanover . Chelsea_ Bk & Tr. Chem Bk & Tr. Gorn Exchange iew Yorl United 8t Westchester Title & Tr. America DIVIDENDS DECLARED NEW YORK, September 5 (F).— Rersiar. Company. Rate. xlod. Acme Wire.. Aéme W Vi Tr gt Soe H'ldrs of Jecord, s 2 ‘a’s;_ a SuS! S8rrBr e mBBen e eSS 55 8 58, L TTISTRREI - S 101 1oL o Y ne 'O Phila_Inquir Postal TAT b Platt - Musie Reynolds (RJ) e A e 3 F=32 3g3oass H =5 3 DO DOOOOOOOOO DOOO DOD DOOOOOOO LOLOOOOOLLOOD OO R DD’MMD DOD DOOLD O PO 9 r ufactur Trust... 81 Adjustment. Indepen O&Gas...37%c .. Oct. 3 Liquidating. King Philip Mil..8% .. Sep. 2 Stock. 3% Q Sep. 3 Aug. 16 e Stand Pub Ser A.. on Outlook for Holdings Over Long Period. ~ Special Dispateh to The Star. NEW YORK, September 5.—] statements disclose that the great ma. Jority of investment trusts made sub- stan additions to their portfolios | T3 during :the first six months of 1930 and were heavily invested, with comparatively | P¢; small cash reserves, at the end of the period, says the Standard Statistics Co., g & current survey, parts of which fol- wi How Btocks Are Selling. “That investment trust stocks were selling, on average, at approximately 80 per cent of net asset (or “liquidating”) value as of June 30, 1930, is also re- vealed by the statements. What length of time wlll elapse before a more nor- mal position is Iltlln!fl cannot be fore- told, but that an extended tull market would witness & rapid closing vp of the { e between liquidating values and mar- el &-im is very likely, in our opinion. mmon were purchased by investment mm.s not only durlnLlhe second- quarter and at the low revailing in the latter part of June, ut also during the first quarter. Al- l h actions since June 30 are not definitely known, it is reasanable to sup- pose that there has been no widespread ong investment trusts, many of w'fich moreover, are devoted to hold- | be ing—and some oompelled to hold—their securities primarily for the long “pull. ‘The managers thus apparently ve been taking a definitely optimistic view of the security market outlook over the long term, at leas Half Year's Results. “During the first half of 1930 some investment wmtlniel managed to show & gain in market values of securities held, while a number of others sus- tained comparatively heavy book losses. The m’ont, ever, small unrealized depreciation, net as- sets of 13 individusl portfolios having declined an an average 4.4 per cent, as compared with & drop of 4.6 per cent in our 90-stock index during Obviously, then, these compan! played only slightly better than aver age skill in market forecasts for the semi-annual period.” SEPTEMBER T0 SHOW TREND, SAYS KLEIN Commerce Official Believes Real Condition of Business Will Be Revealed This Month. By the Associated Press. The opinion that business leaders will have to wait; until September statistics are available before they will have any adequate indication of whn t.lu future has in store was expressed today by Dr. Julius Klein, . Assistant Seeren.ry ol Commerce. Dr. Klein said August statistics 'm of little value in indic#ting a trend of business conditions because a seasonal decline usually existed in that month, due to vacations and hot weather in- activity, "Hbl alr, efther oratorically or cli- matically, is not conducive to clear thinking,” he added with a smile. ‘The int 'Secretary explained that cooler weather usually set in dur- ing that vacations wer: By He Wmfl that busfness uxual'l; bsml to recover from Summer slug- Another point he ‘emphasized was that it is unmr.w comj 1930 busi- ness conditions with 1929. = He said con- ditions year were abnormally good and the fact that production and sales this year did not measure up to 1929 figures did not necessarily mean they were depressed. Dr. Klein llld lt _would be better to compare this year’s figures with 1927 or, better ltlll. with 1923-25, which usually are considered as 100 in index figures. That would give & more accur- ate plcture oX antehc cvndm he added, An ab- normnlly vrupercua perlod llk' 1920, lriuln- un mument is worst'in Monmouuuhm. m’:ln and oh— morganshire, an rey, Bedford m& Hertfordshire. Money to Loan Becdred by first deed of trust en real estate. Frovating interces and” commission ™ Joseph 1. Weller ‘it s # REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD lientions vited om high th— iy Ty Mll.’l.?flrl.lll.m 1520 K St. N.W. National 0478 rteous Treatment THOS. E. JARRELL CO. 721 10 8uNW First Mortgage Loans Ty Commonwealth Investment Co., Inc. 206 15th '8t. N.W. Fhone Nalional 2623 Mortgage Loan Correspondent for The Prudential Insurance Co. of llnriu 13 oot LIFE INSU 1930 &\glmfl:l:!, Mafl::./c[@ A Standard Low Premium Policy for Business and Professional Men 5T Koo fComerel At eneral Uni run::,lll‘ Nat, loll 6% LOANS ON HOMES and years a . ts in the 12 banks amounted /687 at the end of July, com- % Market Aided by More Opn- Managers Appear Cheerful | fased witn 4105810636 at the ‘énd of June, 1930, umzno on July 31, 1929. During the first seven, months ormhyendmmlhlnthuehnnmu nppmulnel! $5,500, compared with an increase of only slsoom in the first seven months of 1 An -examination of month]y deposit figures reported by the 12 mutull banks in ‘Baltimore for a period of 10 years discloses the interesting fact that sav- lnu deposits increase at a more rapid periods of relatively ent than in more pros- TOus Time deposits in 56 regularly report- ing member banks rose during the past month- to . figure higher than .gmt{: correspondls time a year ago, time de on August 13, 1930, amounting to $253,002,000, compari; with $247,328, on July ‘9 this year and $238,87! on August 14, 1929, TOBACCO PRICES GAIN RALEIGH, N. C., September 5 (#).— ‘Tobacco vrlcel went slightly higher on the new bright belt markets today, while Eastern North Clrollnl growers ‘made Dllnl for a meeting at Goldsboro wnlq to discuss co-operative market- ports from the markets indicated better grades than those of the past four days were beln( nflerzd and that the price had climbed a cent or more w 42 rerage of approximately 10 cents gnni(hh meefin‘ at Goldsboro will addressed . 8. Green, - sentative of any Federal hrm"mno:em New Bond Offerings. NEW YORK, tember 5§ (#).—This | week's bond offering totaled $67,159,. ,_against $67,907,000 last week and $8,976,000 & year ago. Saul Building 925 15th St. N.W. Several desirable rooms: at very reasonable rents. lnspec- tion invited. B. F. SAUL CO. Nat. 2100 925 15th St. N. First Mortgage Loans! ‘We make first mort- gage ' loans on .improved Washington ml estate at nominal costs. For a wlu investment choose Real Estate FIRST MORTGAGES — they not only insure a depéndable income, but they protect your principal as well. REALESTATR Capital Resources, $3,800,000 24 JACKSON PLACE Méickubin, Goodrids & Co. Estoblished 1800 BANKERS 1508 H STREET WASHINGTON, D. C. bow lnterest Ralel Washington Building- Other Property Run for 5 Years Without Curtailment District 101§ Loan c”mm,vm Provident Mutnal Life (.J,.a Company of Philadelphia - Members New York and Baltimore Stock Exchanges Associate Member New York Curb Exchange REDWOOD & SOUTH STS. BALTIMORE. MD. Real Estate Loans Ample funds always available for loans on improved property in the District of Columbia and rearby eryhnd and - Virginia. it R Long Term WEAZB 8RS District 9486 Mortgage Loan-Correspondent Metropolitan Life Insurance Company Eqmtable Co-operatwe Bldg. Assn JOHN' .IGT BDSON. Pnl 1 Assets $5,723, ..ll‘!"l‘l Serenieeinie i a3 SR Mm&‘a Snblmpfion for the 99th lmn -of Stock Being Received Plan for the Future Now! Start saving while you are’earning a steady income! Nat'l 0765 SAFE LIRS T explain our - budget system of saving to you! No obligation! MORTGAGES YOU CAN KNOW TODAY YOUR INCOME FOR YEARS TO COME —resulting from ‘investment in our 6% FIRST MORTGAGES This is one investmefit where the return is not only definite in amount—but continuously so to the end of the mm of the Over a Third of a Century Without a Logs mortgage. And, the principal; too, se- | cured by conservatively praised improved real estate. ap- May be purchased in amounts from $250 up. SAULS G0 925 15th St. N.W.