Evening Star Newspaper, September 25, 1930, Page 13

TH E_EVENING STAR WASHINGTON, D. €., THURSDAY, SEPTEMBER 25, 1930 ey to Loan - 3 . } : FINANCIAL o A_13 DIRECTORS NAMED -BY SAVINGS BANK latltfactory Year’s Business "Reported by Commerce & Savings at Meeting. +~'BY EDWARD C. STONE. STwenty-three directors were re- At _the snnual meeting of the of Commerce & Savings' stock- | Note—All stocks are sold In exceptiing those designated by the letter s (80s) | which shows those stocks to be soid in odd lots only. Sales— Add 00 High. Low. Clowe. ~Prev.1930— High. Low, 42% 20 21% 23 8 157 103 124 1 hy .hfld at 11 o'clock today in | “ZC The bank holds a| cn-mr m-.mx organized in . Rosenberg, who has been it fll the institution ever since was founded, presided at the meet- 3 nni John M. Riordon, the execu- vice president, reported a satisfsc- i-_;mym'. business. : board of directors elected at to- day's session includes: Maurice D. nberg, Joseph Sanders, Irvin Ow- John M. Riordon, Thomas J.| Groom, Joseph H. Milans, Dr. Clarence A Weaver, Louh Bush, Harry M. Bedell, J. E. Collifower, E. T. Chewning, Floyd R Davis, R. L. Elliott, C. E. Edwards, 8. Gatley, G. A. Kneessi, Sol Lens- M. A. Leese, Harry E. Mayer, J. ury, Vernon G. Owen, Elie Sheetz ud Frank Owings. | ‘The board will meet i about a week | ; fze for the coming vear with fi el of officers. { €. & P. August Net Reported, . Net income of the Cheupe-ke & Potomac Telephone Co., in Augus 04831, compared with -$98, lBBM the same month in 1929, according | t0 the report filed with the Public Utilities Commission. g Net earnings for the first eight months of the present year were $285.~ £68.25, in comparison with $316,879.72, | in the similar period a year ago. Tele- 1 phone operating revenues in this same | were 85,706,243.60, this. year| ::m luutm 39 in the first eight 1929. Oomplm comparisons between earn- m August, 1930, and August, 1929 “Telephone operating Tevenues 3657,268.68 hon expenics . 487.966.85 _ Net operating rev. s T ,’Q[llhlt . $178,092.87 $169,301.83 47,881.57 $122.522.668 7.361 64 ‘Washington 'u served by 162,396 telephones on August 31. This was an m of 3,483 since January 1 of this year. - During the month telephone users made 14,256,700 calls. Metropolitan Declares Dividend. The Natfonal Metropolitan Bank’s bnn of dxrec'.on yesterday declared 5 per cent semi-annual div- ylble October 15. The books u-w closed from October 5 to 14, inclusive, the president, George W. tors of the American Tce Co. ve declared a regular quarterly divi- | of 75 muonn';ewmml'wck nu company and 1'; per cent on Edmed payable October 25 to of record October 3. eight months of 1930 a “The directors of the Anacostia Bank a meeting yesterday afternoon de- the usual 5 per cent quarterly yable Septcinber stockholders of record September 25. Today's Trading on Exchange. “Trading was quiet on the Washington Stock Exchange today. The first sale ‘was Capital Traction, 10 shares changing ex-dividend, at 59%;. The next the transfer of a nine-share lot Savings & the highest price bank loul exchange. Today's 15 points above the last llme issue. other bank _stock appeared on | board—the Bank of Bethesda. Eight shares changed hands at 55, against the previous sale at 58. Two hundred m of National Mortgage & Invest- it preferred came out at 5 and 10 of Electric Power 6 per cent preferred sold at 112. Only one bond sale was recorded, $1,000 Railway & Electric 4s se] at 89%. District National Bank ‘has been added to the ex-dividend list, also Con- | tinental Trust, Prince Georges Bank & | | ily and placed on the exchange records by Secretary C. J. Gockeler. | Financial District Notes. ‘ Local bankers are expecting a call from Controller Pole within the m’xnl 10 days asking for the condition of all Washington banks and all the nation- | al banks in the country. It is expected | that the banks here will make an ex- | cellent showing since deposits are said | to have held up unusuaully well since | the June call. | It is stated in the financial distric that New York interests have secured an option on the purchase of the controlling stock in one of the smaller banks in Washington. In recent years | séveral attempts have been made by outsiders to obtain a banking foothold | in the Capital. Maurice Otterback, president of the Anacostia Bank, will leave here Sat urday to attend the American Bankers tion” eonvention at Cleveland. _John B. Larner, president of lashington Loan & Trust Co., has re- | from a few days' visit at his | er home, at Mifflintown, Pa, C. Glover, jr, and W. W. Spaid ve been asked to serve on committees the Associated Stock Exchanges. The | tion takes in the Washington | k Exchange, and Eugene E. Thomp- | is president of it. statement of the American Tele- | & Telegraph Co., as of June , shows total assets of $2,844,633,099, pl.rin[ vnh 52 477 023,550 on De- cember 3 rpius of $554,- 101,778, lnmn 1170 Baz 536. | Bank Women Meet Tonight. 'The members of the Bank Women's of Washington will hold a meet- this evening at the Huguenot, with a dinner followed by a Session. The speaker will be ‘Whitton of the Pirst Nation- Bank of Alexandria, who will cover the highlights on her recent trip to Miss Mabel Royce of the Wi Losn & Trust Co., is pres- ident the club this year. - i BOERSE PRICES DECLINE. T 25 (®).—The Septembe: “Boerse had another bad day, lmgru:cu of Adolph Hit- Fastit Jesde the | Stock and Dividend Rate Abitibl Pow & Paper 9 Adams Exp (1.60)... 60 Adams Millls (2),... “1 Advance Rumley.... 3 Advance Rumley nf. 4 Alr Reduction (t415) 176 Alr Way El Ap (1%) 21 Ajax Rubber. . . 8 Alaska Juneau 2 Albany Wrap Paper. Allegheny Corp. . Alleg Cp ww $30 5., Alleg Cp 340 ww 515 Alleg Cp $30 xw 6% . Allied Ch & Dy (n6). Allls Chalmers (3) Amal Leather pt Amerada Corp (2 4 Am Agricul Chem, Am Agricul Ch pf... Am Bank Note (13). Am Beet Sugar. ..... Am Bosch Magneto. . Am Br Shoe (2.40). . Am RBrSh & Fpf (1) Am Brown Bov Elec. 4 Am Brown B B pf (1) & Am Can (4) Am Car & Fdy (6). Am Chicle (13) Am Com Alcohol Am Encaustic (1). Am European Secur, Am & For Power. ... Am & For Pw pf (8). Am & For Pw f (7). Am & For Pow 20 pf. Am Hawatian (a10). Am Hide & Leath pf, Am Home Pr (4.20).. Am Internatl (2). ... Am LaFr & Foam pf. Am Locomotive (4). Am Mch & Fdy Co n. AmMach & Metals. .. Am Metal Co (1) Am Pow & Lt ($1)... Am Pow & Lt pf (6). AmP&L DL A (3%). AmP &L pf A &t (5) Am R & St San (1%) 4« Am Rad & S 8 pf Am Republics. ... Am Roll Mill (n2)... # AmSafety Razor (5) ¢ Atlas Stores (n1)... % Aviation Corp of Del 4 Barker Bros (2). Am Sm & Ret (4). Am Sm & Ref pf (6 Am Snuff +(3%).. Am Snuft pf (6)..... Am Solv & Chem Am Steel Fdy (3).... Am Sugar Ref (5). .. Am Sugar Ref pf(7). Am Sumatra Tob. . Am Tel & Cable (5).. Am Tel & Tel (9) Am Tobacco. . . Am Tobacco (B) Am Tobacco pf (6) Am Type Fdy i (7 Am Water Wks (n1). Am Woolen Am Writ Pap pf (4). Anac onda Cop (214). 357 Anchor Cap (2.40)... Andes Copper (1) Archer-Dan-M (2) Armour of 11l (A). Armourof Ill (B).., Asso Appl Ind (4). Asso Dry G (2%). Atch To & 8 Fe (10 Atch To & S F pf (5). At] Coast Line(110). At Refining (12). 14 Auburn Auto (§4). 7 Austin Nich pr A (l) l"0l Autosales, Autosales pf. Auto Strap Saf R(3). ‘2 69 Baldwin Loco (1% ). 246 Baldwin Loco pt (7). 20. Balto & Ohlo (7). Balto & Ohto pf (4).. 1 Bang & Aroos (3%). 1 . ‘1501 Barnsdall A (2). Bayuk Cig 1st pf (7) ‘0! Beatrice Cream (4).. Beech-Nut Pkg (3) Bendix Aviation (2 Best & Co (2).. Bethlebem Steel Bohn Alum&Br(1%) Borden Co (k3) Borg Warner (3) Blaw-Knox (1%) Bloomingdale Bros unn Briggs Mz Co. Brockway Mot Trk. . Bklyn-Man Tr (4)... 221 Bklyn-Man Tr pt U) Bklyn & Queens. Bklyn &Qu Tr pt (5). Bklyn Union Gas (5) Brown Shoe (3).... Bruns-Balk-Col Bruns Ter & Ry Bucyrus (1). Bucyrus v pf (23%). Budd (EG) (1) Budd Wheel (1). Bullard Co. Bulova Watch (l) Burns Bros (A) (8).. 4 Burr Add Mach (1).. Bush Terminal (214 ) Bush Term deb (7)., Butte Cop & Z (50c 4 Butterick Co % Chic Great W 284 4 204 12% Byers (A M) . Calif Packing (4). Callahan Zine & Ld. lumet & Arizona lumet & Hecla Canada Dry G A (5). Canadian Pacif (10). Can Pacific new. Cannon Mills (1.60). Capital Admin (A) Car Clin & Ohlo (4). Case (1 1) (6). Caterpfl Tr (43 Cavanaugh-Dobbs. .. Celanese Corp. . Celotex Co. . Celotex voting ctfs. . Century Rib Mill Cerro de Pasco (6) Certain-teed Prod. Checker Cab (4.20).. Ches & Ohlo (23%)... Chesapeake Corp (3) Chic & Alton .. Chic & Alton pf. Ch1 & Eastern 111 pf, tern. Chic Great West p Chic M1l St P & Pac. . Chic Mil St P & P pf. 1cac0 & N W (5).. Chic Paeu Tool Chic R [ & Pac (7)... Chic R1& P of (6).. Chi R 1& Pac pf (7). Childs Co (2.40).. Chrysler Corp (3).., 37 City lce & F (k3.60), City Stores (50¢c). Coca-Cola (6). Collins & Atkman. , , Colonial Beacon. . ... Col Fuel & iron (2).. Col Gas & El (2) Col Gas & EI pf A Cotum Graph (a% ) Columbian Carb (t Comm Credit (2) . Comm Cred 1st (sv.:zan. Com In Tr (£160)... 4 Comm Inv Tr wa Comm Solvents (11) Comwith & So (60¢). Comwlth & So pf (6) Colo & Sou 1st pf (4) Congoleum-Nairn Congress Cigars (4). Consol Cig pr pf 6% . Consol Film (2) . Consol Film pf (2),. Consol Gas N ¥ (4).. Cons Gas N Y of (5). Cons RR Cub pf (6) . > 186 119 % Consol Textlle. . 1% 184 3% 94% 66% 71% 50 3TH 12% 7% 50 4% 3% 30t 17W 40% 164 Container A (1. Contl Baking A..... Conti Baking B. .. Contl Baking pf (l)- Contl Can (2% Contl Dia Fibre (1) Cont} Insur (2.40)... Contl Moto; Contl O1] of Del. Contl Shares (1).... 48 Corn Pr Ref (14%).. Corn Prod pf (7)....100 Cotyine. ... Crucible Steel (‘v tesl pt .1008 395 1 20 16 26% 244 26 26 T 24 110% 12 10215 10614 4974 28% 3814 17 24'% 26 714 24 111 12 one hundred-share lots (2508) 10 u‘ 107 4!&1. | 26% ~Prev.1930 High. Low. Stock and Dividend Rate. Add 00. Cuba Cane Prod..... 1 CubaCo..... . 26 Cuba R R pf (8). . 308 Cudahy Packing (4). 1 Curtis Publish pf (7) 2 Curtiss Wright Corp 115 Curtiss Wr CorpA.. 138 Davison Chemfeal. .. Delaware & Hud (9). Del Lack & Wn (17). Detroit Edison (8)... Diamond Match (8). Dome Mines (1). Drug Corporat (4) Dunhill Int (1)... Duplan Si1k (1). Duplan Silk pf (8 Du Pont de N (14.70) 113 DuPdeNdebpf (6). 6 Fastman Kodak (18) 124 ctric Boat. . El Pow & Lt (1). Fl Storage Bat (5) Eng Pub Serv (2.40) . Equit Office Pldg (3) 1 Eureka Vac Cleaner. 3 : Erie RR 1st pf 2 1 1 4 Fairbanks Mor E Auto Loading. Exchange Buf (1%). 10s Fairbanks Copf.... 40s (3) 9 Fed Motor Tr (80c).., Federal Screw (3)... Fid Ph Fire In (2.60) 6 fth Ave Bus (64c). 108 Filene's pf (614). Firestone T & R (1), First Nat Strs (23) 4 Fisk Rubber. 4 Fourth Nat] Invest.. Fisk Rub 1st pf cv. .. Florsheim Sh A (3).. Follansbee Bros (2). Foster Wheeler (2).. Foundation Co. 55 1'! Fox Film (A) (4) Freeport Tex (16)... Gabriel Snub (A) n.. Gen Am Investor: Gen Am Tk Car (3 Gen Asphalt (4) Gen Baking pf ( Gen Brn;ln a) ‘ab 32 Gen Clgar (4) Gen Electric (1.60) Gen G & El cv pf (6). nG&EIDPIA (1), 408 Gen Ital Ed (a2.62).. 2 Gen Mills (3) 2 Gen Motors (+ 405 Gen Motors pf (5) 14 Gen Outdoor Adv Gen Out Adv (A) (4) Gen Pub Serv (b6).. Gen Ry Signal (5). Gen Realty & Util. 4 Gen Refract (14%).. % Gr North pf (5) 4 Grigsby Grunow.... Gen Steel Cast pf (6) Gen Theatre Equip. . Gillette Saf Ras (n5) Gimbel Bros. , .. Glidden Co (1.20) Gobel (Adolf). Gold Dust (234). Goodrich (B F) Goodrich BF pf (1), Goodyear Tire (5)... Goodyear 1st pf (7).. Gotham Silk Hoslery Graham-Paig Graham-Paige rcts Granby Consol (2).. Grand Silver S (m1), Grand Unlon........ Grand Union pf (3).. Granite City Stl (4). Grant (W T) (1) Gr Nor ctf Ore (a% ) Gr West Sug (1.40). 7 Gr West Sug pt (7). 390s Greene Cananea (3), 50s 187 Guif Mobile & North. 2 Gulf Mob& N pf (6). 1 Guif StatesSteel.... 4 Hackensack W (1%) 10s Hahn Dept Stores. . “ thnD'D!SD((GVh) 1 Hanna pt (new) (7), 10s Hartman Corp (B) 7 5% Hayes Body......... Helme (Geo H) (17). Hercules Powd (3) 4 Hershey Choc (5). 10 Hersh Choe pf (15) 3 Houdaille Hershey.. 12 Household Fin pt (4) 2 Houston Oll (b10%). 147 Howe Sound (t4%) 11 Hud&Man Ry (3.60). § Hudson Motors (3).. 29 Hupp Motor Car (2). 85 Illinols Central (1) Illinols Cent pf (6) Illinois Cen 18 In (4) Independ O & G (2) Indian Motor Cycle, Indian Refining Ind Ray (b6 % s Ingersoll Rand (16)., Inland Steel (4)..... 1 Inspiration Copper.. 84 Interboro Rap Tran. 122 Interlake Iron (1)... 4 Int Agricultural. . 4 Int Agricul pf (7). Intl Bus Mach (n6),, Intl Carriers (25¢) Intl Cement (4). Intl Combustion. Int Comb Eng pt. Intl Harvester (2 % Int Harvester pf (7). Intl Hydro El A (e2) Intl Match pf (4).... Intl Mer Marine (2). Intl Nick of Can (1). 625 Intl Paper pt (7) 1208 IntiPap & P (A) 2.40 & Intl Pap & Pow (C).. Intl Pap & P of (7) ., Int Rys Cen A pf (5). Intl Salt (3).... Intl Tel & Tel (2). Inter Dept Strs (2) IntertypeCorp (2). Investors Equity ( 16 17 31 4 Island Cr Coal (4). Jewel Tea (14) Johns-Manvifle (3).. 4 Jones&Laugh pf (7). Jordan Motor Car. ... KC P&L 1st pf B (8). 4 Kaufmann D 8 (1%) .4!‘ 1% 26% 238 21 204 561 304 14% Kans City Sou pf (4) Kelly-Spring Tire. .. Kelsey Hayes (2). Kelvinator Corp Kennecott Copper(2) Kimberly-Clark (13). Kolster Radlo. . Kresge (SS) Co 1.60. Kreug & Toll (1.60) . Krog Gr & Bak (n1). Lambert Co (8), Lehigh Port Cmt Lehigh Valley Coal Lehigh Val (4%) Lehman Corp (3) Lehn & Fink 43), < Lib Owens F GI (1).. Liggett & Myer l\‘fi). Lig & Myers B (5). Lima Locomotive Link Belt (2.60)..... Liquid Carbonlc (4).. Loew’s Ine (3). . Loew’s pf xw (634).. Loft Ine. Loose-Wiies (12.80) . Lorillard (P) Co Lorillard (P) pf (7)., Louisiana Oil....... Lou G & E (A) (1%) Louis & Nash (1) Ludlum Steel McCrory (B) (2) McGraw-Hill (2) Mcintyre Pore M (\) McKeespt T P(16%). MeKesson & Rob (1). McLellan Stos McLellan 8 pf A (6).. Mack Trucks (6) Macy RH & Co (n13) Magma Copper (3).. Mallison & Co Manati Sugar Man Elev mod Manhat Elev gtd (7) SIOI Manhat Shirt (1).... 1 Marine Mid (1.20). o = » o ereadSion RolarlRl-BomnSuoan 15 + Marlin-Rock (15%).. Marmon Motor Car. . Marshall Fleld (2%) Martin Parry Bales— High. 1% 8% 46 1121 123 207 21% 5% 37 5 1051 86% 4Tu 424 100% 110\ 8 8% 36% 111% 1051 T4% zn 551 7 28 804y 35 % 121% 54 121 14 1141 8 67 o8 251 10% 18 19 56 31% 18 9% 16% 1318 8 52% 119 29% 6 2% 35 58 12% 293 122% 200 21 LI Sig 62% 8 80 37 111% 184 14% 34 43 641y 11% 58 84 73 1051 35% ATw 41y 997 8 261 31% 121% 1% 114% 8 4 107% 31 4815 1184 20 56 3114 18 79% 15% 181 78 b27%, 19 294 61y 2% 38% 6514 76 105% 36% 4Ty 4lly 100 3 26'% 31 7 9 724 STOCKS IRREGULAR, < WITH LOWER TREND Rallies Bring Out More Sell-| ing—Several Issues Hit New Lows. BY CLAUDE A. JAGGER, « Associated Press Financial Editor. NEW YORK, September 25.—Stocks bobbed up and down in confusion to- day, but the main trend was down- ward. The market, nervous atfter its re- cent experiences, moved with decided irregulariay, developing little strength on the rallles and, on the other hand, becoming more active whenever pro- fessional offerings were pressed. Senti- || ment was improved somewhat by the early firmness of wheat. Selling, however, was directed more noticeably to individual :ssues and a couple of well defined groups, and the so-called pivotal shares as a rule found support on the reactions. Pressure vas particularly strong against the farm implement sand and the oils. More than a dozen of the latter classification broke to new lows for the year. Investment Stocks. United States Steel, after making fractional improvement, sagged a cou- ple of points and American Can turned a 1-point advance into & moderate loss. On the whole, the same course was fol- lowed by other investment stocks, ir cluding American Telephone and Gen- eral Electric. Case tumbled 10 points, International Harvester 4 and Prairle Pipe about 5, all to new minimum: Allied Chemical, American Smelting lost 3. Vanadium and a few other pool stocks, in which liquidation was_severe yesterday, were | again heavy. Radio, Standard Oll of New York, Glllette, Packard and Chrys- ler, among many others, dipped to new | 1930 lows. New York City traction shares were a strong feature and made some promi- nent advances under buying stimulated by a bellef that recent developments forecast important and possibly #ic- cessful efforts toward unlncnflon. Brooklyn-Manhattan Guaranteed, an | inactive stock, soared more than 17 points and gains of 3 to 4 in the active members of the group were general. The gloomy rumors which have ac- compani recent pressure against stocks were largely missing, and al- though such reports find little credence in calmer circles of the financial com- | munity, their absence was something of a relief. Gain in Steel Operations. Last week’s gain in steel operations drew considerable comment. Some ex- perts on the industry felt that the up- ward trend might not be so evident when the next réports come out, basing their contention on the ground that production might again pass require- ments for finished goods, thus permit- ting a slackening in output. In this connection it was pointed out that the rallroads have so far made little or no inquiry for rails, notwithstanding the fact that the usual season for this de- mand 1s now at hand. U. §. TREASURY BALANCE. ‘The United States Treasury balance, announced today as of close of business Auburn Auto and | Secured ll!‘hlnll'lfl—na-hl‘ interest and commission. Joseph I. Weller % | FFI ill BugliEngS 17th & I Streets Several single offices and suites avallable at most rea- sonable rentals. Avply to Representative, Room 300. Moore & Hill, Inc. 730 17th St. N.W. N First Mortgage Loan Applications Invited at 5)5% Construction Loans Glover & Flather 1508 H St. N.W. National 1753 | - AREX. BROWN f «* SONS E Underwriters « Distributors INVESTMENT SECURITIES Wasninaron Orrica 737 15th Street N, W, Telephone, National 1053 Marw Orrics » Barrine September 23, was $339,203,015.96. Cus- | toms receipts for the month to date| were $27,817,603.62. Total ordinary ex~i penditures, $6,624,881.81. PROPERTY Apartment House MANAGEMENT MANAGEMENT q" HE worries of owner-man- agement can all be elim- inated by placing your apart- ment properties in our hands —with the result we will prob- ably effect many economies, which will increase your m income. B. F. SAUL CO. 925 15th St. N.W. M O'E T G & G B Nat’l 2100 L O'A'N'S PRICES OF BONDS [Exclusive of Convertible Bonds) 63 Bonds of 21 Public Utiitties= - 10 Associated Systom Bonds e @Average price of the three bonds of three ‘companies 1923 1924 1925 1926 Dwe 1o exchange, calls, or maturisies the m 10 year. The average price of bonds for 1927 1928 1920 1930 1931 ber of issmes outssanding vavied from yoar year vepresemted above is compused in terms of & 3% bond maturing 30 years laver, These Bonds A re Underpriced UR analysis of Associated Gas and Electric System Bonds and 63 similar bonds of 21 comparable situations proves conclusively that— Associated Bonds are Underpriced Tests used by banks, insurance companies and investment banking houses, show that Associated System Bonds consistently make a better show- ing than the other bonds asa group. Seven plate charts, illustrating \the results cl our analysis, together with full explanatios, are yours for the nkln. 4 ‘First Mortgage Loans On improved Real Estate in the District of Columbia and nearby Maryland and Virginia for 3, § or 10 year terms on your SY%% RANDALL H. WAGNER & COMPANY MORTGAGE LOAN CORRESPONDENT Home Office Building Apartment Business Property New York Life Insurance Company 1321 Connecticut Ave. Decatur 3600 For the INVESTOR’S Benefit Changes in industry may be turned to the investor's benefit rather than his detriment. A systematic and regular check-up of earnings, policies, and future pros- pects can be made by anyone who cares to use the Statistical Library which is pare of the equipment of our office in the Piedmont Building. FENNER & BEANE COMPLETE BROKERAGE SERVICE Washington Office 1430 K Street, N. W.... . Telephone National 7000 _] D. Moruersuep, W. E. Lewis, MANAGERS Members: New York Stock Exchange and other principal Exchanges PRIVATE WIRES TO NEW YORK, NEW ORLEANS, CHICAGO National Metropolitan Bank 15th St., Opposite U. S. Trenlury 1814—Oldest National Bank in the Permanency hat's the Sutstanding advantage of appointing The Metropolitan as Executor ‘or Trustee under your Will. fWe have been doing business over a century, and will be here to serve your heirs, no matter how long your alloted span. Conference with Our Trust Dept, invited. P 3% on Savings INVESTMENT BUILDING occupants drive to their office and park in their own building * An exclusive feature of this centrally located building is the large garage in the basement with complete service available to tenants at a very moder- ate cost. F o) 7 Several desirable rooms—also suites —are available for immediate occu- pancy. * BUILDING OREN ON FOUR SIDES ABUNDANT LIGHT AND AIR SIX HIGH-SPEED ELEVATORS CENTRAL LOCATION H.L. Rust Company 1001 Fifteenth St & NAtional 8100 TABLI A Gar-Pike in the Net ISHERMEN in the tropics dread the gar-pike. A fish of great ntrength and speed, that prac- tically ruins the fisherman’s net in his efforts to get at the smaller fish trapped beside him. Swept into the net of speculation, many a small speculator, too, alongnde the great manipulator of stocks, is often financially devoured—that is why wise investors avoid the uncharted specu- lative sea. They place their surplus funds in a sound, firmly-based security which yields a non- fluctuatmg return— a security such as the 6 per cent First Mortgage Notes sold through Swartzell, Rheem & Hensey Company. These notes pay the same rate and carry the same service to the small and large investor alike. Write or call for our interesting book- let which explains in detail why First Mortgage Notes are today the highest paying safe investment. SWARTZFELL, RHEEM & HENSEY Co. Mmamz BANKERS