Evening Star Newspaper, September 29, 1930, Page 13

NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. BANKS SHOW GAN IRDROSIS TOTL s e aemd e | Equitable Co-operative Bldg. Assn ‘Mon. i’ Organized 18 P l_I.I Ctll‘::ney sl o p:r cent, | /20BN JOX EDEON, Presient Secretary ) the lowest rencwal rato since July 7. o $5,723,083.61 Surplus & Profits. ... ... 8175591157 915. New loans have been effected s Subscription for the 99th lIssue of Stock Being Received ~Prev.1030— Stock and High. Low. Dividend Rate. 40% 23 Comm Credit (2).... 1 76 Comm Cred 1st (§34) 50s Com In Tr (§1.60)... Note—All stocks are sold in one hundred-share lots excepting those designated by the letter s (80s) (250s) which those stocks to be sold in odd lots only. For Complete Compliation of Sales See 5:30 Edition. Btock and Sale: low this year, but there has been no - Controller’s Call Reveals In-|al i _‘treases Over Figures * of Last June. {7 for the condition of all ‘banks on September 24. “of the banks here show deposits on the last call 24 banks reached by tele- fter the call » Increases in deposits and 5 reases in me;r ge'pocl!s. ases reported by the 19 ‘sufficient to_give the bauks ubstantial total gains over figures, y assigned the main rea- increases to the fact that le are now out of the stock are holding their money factor:{s the business situa- any merchants have less money .in their 'business than usual, g the bank deposit totals. portant reason is that peo . spent considerably less money jvel during the past Summer. In- of taking extended vacations, Huve. remained at home much of banks so far as they could be bétween the time the call was lic and press time, compared “¥Comparison of Bank Calls. _ Sept. 24, Jurs_em!(l. 1930 3 951,793,586 $50,003,118 29,683.678 30,306,628 8,741,963 8,676,435 4,532,902 3,906,770 16,616,771 16,778,054 9,203,181 8,807,214 12,123,396 11,435,302 5,057,241 4.048,384 3,663,539 3,613,137 6206712 6,188,447 18,530,298 18,040,438 6,576,253 6,431,538 1,880,467 3,106,401 2,200,460 2.172,353 4,395,818 4,112,042 3.393.475 3,536,954 6,264,135 6,190,801 1,033,289 2,495,483 Merchants Bk. & 7,604,564 National Savings 12,364,244 Unfon Tru: 8,625,271 15,730,402 15,354,768 Munsey Trust. 4,937,570 4,903,650 Payment for Bond Holders. Notices have been sent for the pay- fment of $50 on each $1,000 certificate of deposit for the Washington, Alexandria & Mount Vernon Railway Co., first , cent bonds. Paymen be made at the prin- 3-\ office of the depository, the Penn- lvania Co. for Insurances on Lives and Granting Annuities, Fifteenth and Chestnut streets, Philadelphia, Pa. Checks will be sent to all on or after October 1. This notice is of much interest to a large number of people in Washington and vicinity who have held these bonds for years. It is anticipated that another pay- ment will be made later when the final settlement is made of the affairs of the company. It will be recalled that the line from Alexandria to Mount Vernon has been closed, a bus line having se- cured the right of way from the trolley company. melflhl Traction Sells Off. 1 Traction sold lower in small lot trading on the Washington Stock Exchange y. ‘The stock opened at sya;:x—dlfldend. and closed at 58. Most 5,763 Gas Light stock: “@nd closed at 125, Lan- 1ds at 114 and 11415, / Ten shares of ‘American Security & Trust sold at and_Bank of Be- ‘thesda 53. Bonds were in moved much better demand. Commodity Price Trends of Week BY H. N. McGILL, Bditor McGill Commodity Service. AUBURNDALE, Mass.,, September 29 #P)—The average level of commodity the week just closed de- eclined moderately from the previous "week. The weakness was largely due f#o agricultural products, which reached B new low. Agricultural districts view Mith alarm the reports of large quan- Xities of wheat in Russia and the short selling on the American Grain Ex- fchange. This development, coming at ; time when bearish sentiment was pread, merely accentuated price $weakness. World wheat production this r promises to exceed last year by 4 per cent. The volume, how- » 18 under the previous five-year verage. Wheat prices, the lowest since -war, tend to discount oversupply. t of 15 individual commodity indices, advanced last week, 9 declined and remain unchanged. September has brought forth many G%’.""""c Teports concerning inventories. ; facts show that stocks of raw ma- terials are large, over a year ago, and ing by a marked margin the previous five-year average. This is off- set by low stocks of finished goods. In recent years hand-to-mouth-buying icles have been employed, particu- 1y by retailers and wholesalers, A check-up shows that stocks today are Jow and broken. This is the principal g{tinflstlt factor for the closing months this year. A seasonal improvement in industrial activity will bring in its wake an increaze in employment and purchasing power. Therefore, a heavier demand for finished goods means that production schedules must be revised upward and the demand for raw ma- terials also will increase. Live Stock. Prices of live stock recovered sharply, now the highest since last April. The statistical status of cattle is extremely strong, but high prices will not help consumption. It is estimated that dur- 4ng the past decade the per capita con- sumption of beef has declined more | than 50 pounds. . | Miscellaneous Groups. Ferrous metals, fine textiles and veg- etable oils all established new lows, The sharp break in vegetable oils is attrib- utable to the price wealness in linseed oil and a further revision downward in Ckina wood oil. | Recent Price Changes. Preceding Pirst of 1930 eommodities 815 industrial ¢ 860 ricultural avens 1 81 o tocrous “méta i ézuu, fine 5 table ofls..... X ! WINNIPEG WHEAT DROPS. WINNIPEG, Manitoba, September 29 P —Officials’ delved into grain ex- ehange records today to see if wheat ever sold cheaper on the Winnipeg market than it did today. At the opening the October future * went through the 69-cent bottom set & quarter of a century ago and hit 68 cents before buying brought it back & little, Weakness at Live 1 and Jack of ‘:xp'?hr: business were main Only for two before 1906, when 861 66 110% a7 n“ 348 23% 41% 1% 156% 26 2% Ny 35% 107 998, T2 343 68 424 128 21% 8 1561 150% 1% 100% 9% 2214 524 55% 6974 110 274% 130% 129 141% 124% 4% 17% 9% 81t 53% 515 374 82% 8% 4% 65 13% 46% 5019 2421 194 Dividend 104 Abraham St pf (7) 21% Adams Exp (1.60) 854 Adams Exp pf (5) 29% Addressogr'ph (1 7 Advance Rumley. 15% Advance Rumley pf. % Ahumada Lead. .. 1031 Air Reduction (t4%) 12 AirWay El Ap (1%) 1 Ajax Rubber . 4% Alaska Juneau 18 Allegheny Corp. 87 Alleg Cp ww $30 5% . 89 Alleg Cp $40 ww 515, 49 Allegheny St1(12.55) 232 Allled Ch & Dy (n6)., 47% Allis Chalmers (3) 28 Alpha Port Cmt (2)4e 18 Amerada Corp (2)... 2 Am Agricul Chem... 23 Am Agricul Ch pf. 68 Am Bank Note (13).. 26 Am Bosch Magneto. . 41% Am Br Shoe (2.40)... 118 AmBrSh&Fpf (1), 8% Am Brown Bov Elec. ey ate. Add 00. High. Low. 613 ADbitibi P & P pf (8)., 42 Abraham Strauss.... 3 61 60% 2 40% 40% 208 109% 10815 108 121% 51 60% Am Brown B E pf (7)110s 108% Am Can (4). 140% Am Oan pf (7). 42 AmCar & Fdy (8)... 93 Am Car & Fdy of (1), 39 AmChain (3). - 75% Am Chain pf (T)..1en 86% Am Chicle (13) o 94 Am Com Alcohol 14% Am Encaustie (1), ... 334 Am European Secur.. 564 Am & For Power 95 Am & For Pw pf (6). 1061 Am & For Pw pf (7). 91% Am & For Pow 2d pf.. 8% Am Hawailan (a10). 2% Am Hide & Leather 55 Am Home Pr (4.20 a1 Am Ice (14). 28% Am Internatl (2) 38% Am Locomotive (4 35% Am Mch & Fdy Con.. 6 AmMach & Metals. .. 22 Am Metal Co (1%) 65 Am Nat Gas pf (7) 4814 Am News (§t4) 72 Am Pow & Lt (31 99 Am Pow & Lt pf (6). 75 AmP&LDPLA (3%). 80 AmP&LpfAst(5) 23% Am R & St San (1%) 1264% Am Rad & S8 pt (1), Am Sm & Ref pf Am Snuff (13). 5% Am Solv & Chem 34% Am Steel Fdy (3) 42 Am Stores (2). 45Y% Am Sugar Ref (5)... 103% Am Sugar Ref pf(1). 9% Am Sumatra Tob..,, Am Tel & Cable (5).. 200% Am Tel & Tel (9).... 115% Am Tobaceo. .. 117 Am Tobacco (B) 120 Am Tobacco pt (6) 113~ Am Type Fdry (8). .. 7814 Am Water Wks (n1). 19% Am Woolen pf. i 6% Am Zinc Lead & 8m., 50 AmZincpf (6)...... 37% Anaconda Cop (2%). 20 Anaconda W&C (1), 34% Anchor Cap (2.40)... 16% Andes Copper (1). 19% Archer-Dan-M (2)... 78 Armour of Del pf (7) 414 Armour of Ill (A)..w 2% Armour of Il (B). 55 Armour of 111 pf (7). 5 Arnold Constable. .., 28% Asso Appl Ind (4) ... 28 321 Asso Oll (2). Atch To & S Fe (10 1081 102% Atch To& S F pf (5). 17515 136% Atl Coast Line(t10)., 80% 66% 51% 106 37 8% 263% 7 10% 81% % 38 49% At Gulf & W Ind (2), 50 AtGulf & WIpf (5). 29 At Refining (12 62 Atlas Powder (4) 25% Atlas Stores (n1) 4 Atlas Tack. wee 91 Auburn Auto (J4). 3% Austin Nichols. . 1% AUtosales...s, ...... 37 Auto Strap Saf R(3), 4% Aviation Corp of Del, 19% Baldwin Loco (1% ). 116 104% Baldwin Loco pf (7 122% 84n¢ 95% Balto & Ohlo (7). ‘78% Baito & Ohlo pf ( 80 23% 10s 146 1 13 9! . 108 % 0 12 209 205% 207 208% 12 108% 108' 108% 108 3136 135 135 136% 4 50% 50% 50% 51 1 bd% B4w Bdw 37 29% 26 26 2 65% 65 65 26% 26% 4 4 94 94 3% 3% 2 3 70 70 e Bl 2915 28 28y 208 109 109 109 24 9% 91 22 821 ; 82% 82 1 110%2 106% Bamberger pf (614).210s 109% 108 109%5 70 70 70 B4y 50% 25% 22% 85 T8% 983 178% 42 30% 33% 31% 43 16% 14% 74 43 35 K1% 4815 112% % 24 63 Bang & Aroos (3%).. 12 2) Bayuk Cig 1st pf 671 Beatrice Cream (4) 21% Borg Warner (3 18% Briggs Mfg Co. . 10 Brockway Mot Ti B7% Brockway Mot pt ( 58% Bklyn-Man Tr (4) 84% BKlyn-Man Tr pf 115 Bklyn Union Gas (5) 37% Brown Shoe (3) 13% Bruns-Balk-Col. 5% Bruns Ter & Ry 8. 19% Bucyrus (1). 33 Bucyrusevp 7 Budd (EG) (1) 814 Budd Wheel (1 20% Bullard Co.. 26% Bulova 15% Burns Bro: ) 29% Burr Add Mach ( 24 Bush Terminal (2% 9% Bush T Bldg pf (7) 99 Bush Term deb (7).. 2 Butte Cop & Z (50¢) 1'4 Butte Superior. 13% Butterick Co 60% Byers (A M). 60 Calif Packing (4). 7 Callahan Zinc & Ld., $43% Calumet & Arizona 10 Calumet & Hecla. ... 1 . 16% Campbell Wyant (2). 5% 226% 524 344 285 42 102 3624 13% 60 12 301 316 557 1254 104% 110% 32y 191% 52% 6474 87 110 7% 56 Canada Dry G A (5)., 165% Canadian Pacif (10). 40% Can Pacific new....., 20 Cannon Mills (1.60).. 13 Capital Admin (A).. 31 Capital Adm A pf (3) 108 13 13 13 2 2% 2% 2 37 20 19% 19% 408 98 97 98 3 8 179 80 1 1074% 107% 107% 1 B3% 53% b53% 4 4 4 22% 22% 43% 43% 80% 80% 129 129 25% 24% 24% 408 53% 26 T4n 1 93 3 3118 115 115 1 38 37% 3% 6 16 14n 144 3 9 8 9 1 20% 20% 20% 32 32u 7 3 108 115% 115% 115% 208 109% 109'% 109'% '~3 2 2 1% 1% 1% 4 13% 13 13y 10 63% 57 57 3 B9% B57% BT 1 * '- % 4 45% 44% 4BLy 23 10% 10 104 2 16% 13 13 2 69% b68% bR% 18 175 167 168 21 43% 40 42y 2 200 20% 20% 1 16% 15% 16 1 33% 33% 33% 96 Car Clin & O sta (5). 2008 104% 1044 104% 142% Case (J 1) (6)... 48% Caterpil Tr (13%) 5 10% Celotex voting etfs.. 23 Cent Aguitre As1%. 228 Cent RRof NJ (112). 3814 Cerro de Pasco (6).. 5is Certain-teed Prod. .. 20. Certain-teed Prod pf 1% Checker Cab (4.20).. 44'% Ches & Ohlo (2%)... 2% Chic & Alton ...... 24 Chic & Alton pf. 8 Chic Great Western. 27 Chic Great West pf. . 11% Chic Mil St P & Pac. . 17% Chic Mil St P& P pf. 56% Chicago & N W (5).. 11% Chic Prieu Tool...., 41% Chi Pneu T pf (3%).. 89 ChicR1 & Pac (7)... 98 ChicR1&P pf (6).. 105 Chi R1& Pacpf (7). 17 Chickasha Cotton Ofl 47% Childs Co (2.40).. ... 20% Chrysler Corp (3)..,. 38 City Ice & F (k3.60). 93 146 131% 131% 464 464 B B4 104 10% 10% 104 214 24% 44% 2% 2% 8 304 20w 29% 124 1% 11% 18 16% 17% 10 56'% B4 54 14 15% 12 14 1 41 41% 41% 9 90% 88% 89 6 101% 101% 101% 1107 107 107 2 18% 16% 16 14 21 1 1 §1 City loe & ot (8%) 1108 4% City Stores (50e).... 80 City StoresA (3%).. 30 Cluett Peabody (3).. 91% Cluett-Peabdy pf (7). 133% Coca-Cola (6). 4815 Coca-Cola A (3) 50 Colgate-Pal-P (234). 14% Collins & Alkman. ., 12% Colonial Beacon..... 361 Col Fuel & Iron (2), 63% Colo & South (3) .4 Col Gas & Kl (2). 104% Col Gas & EI pf A (8) 1008 1 31 31 208 102 102 3 18 3 57% 15 18% a3 65 6 87 B6% B3W B34 56 3 109% 109% 109% 109% Comm Inv Tr pf 6% . Comm Solvents ($1). Comwlth & So (60c). Comwlth & So pf (6), Congoleum-Nairn. .. Congress Clgars (4). Conn Ry&Lt pf(414). Consol Cigars (5) ., Consol Cig pr pt 6% .. Consol Film (2)..... Consol Film pf (2)... Consol NY )., Cons Gas N Y pt (5)., Cons RR Cub pf (6) .3 Consol Textile...... Container A (1.20) 4 Contl Baking A... Contl Baking B. . Contl Baking pf (8).. Contl Can (2% )...e0 Contl Dia Fibre (1).. Contl Insur (2.40)... Contl Motors. . Contl Oil of Del. Contl Shares (1) Corn Pr Ref (143%).. Corn Prod pt (1) Coty Ing 4% - Crof Wheat (123).., Crown Zellerb'ch (1) Cuba Cane Prod. Cuba Co. Cuban-Amer Sugar. + Cuban-Amer Sug pf.. Cudahy Packing (4). Curtls Publish (7)., Curtis Publish pf (1) Curtiss Wright Corp. Curtiss Wr Corp A. « Cushman's pf (1) Cutler-Ham (3%)... Davison Chemical. .. Delaware & Hud (9). Del Lack & Wn (17). Denver & R G W pf.s Detroit Edison (8 Devoe & R A (1.20).. Devoe & R 1st pt (7)., Diamond Match (8 Dome Mines (1)..... Dom Stores (11.20) .« Drug Corporat (4)..: Dunhill Int (1)...... Du Pont de N (14.70) Duques Lt 1st pf (5), East Roll Mill (ht2). Eastman Kodak (18) Fesmnma ® o S - - B oM NOs T Eaton Axle &S (8).. I Eitington-Schild...« Eitington-Schild pf.. Elec Auto Lite (8) El Auto-Lite pf ( Electric Boat. . El Pow & Lt (1 El Pow & Lt pf Bl Pow & Lt pf (7) El Storage Bat (5)... Emerson Brant (A).. Endicott-John pf (7). Eng Pub Sv pf (5%). Equit Office Bldg (3). Vac Cleane; Evans Auto Loading. Exchange Buf (1%). Fairbanks Co pf. 3 Fairbanks Morse (3), Fed Lt & Tr (11%).. Fed Motor Tr (80c)., Federal Screw (3)... Fed Wat 5 A (e2.40)., Fid Ph Fire In (2.60), Firestone T&R (1), Firest T& R pf (6).. First Nat Strs (2%). Fisk Rubber.... Fisk Rub 1stpfev... Follansbee Bros(2). Foster Wheeler (2).. Foundation Co. . Fourth Natl Inve: Fox Film (A) (4). Freeport Tex (15)... Fuller 2d pf (17.40).. 4 Gabriel Snub (A) n.. Gamewell Co (5) Gardner Motor, Gen Am Investo Gen Am Inv pf (6 Gen Am T’k Car (14) Gen Asphalt (4). Gen Bron: G Gen Elec spec (60¢).. Gen Food Corp (3)..y Gen Gas&El A(e30c). Gen G & El cvof (8 Ital Ed (a2.62).. Motors pf (5)... Outdoor Adv. ... Pub Serv (b6) ey Ry Signal (5)... Realty & Util. .. R& ULt (e6).a Refract (t4%)., Gen Theatre Equip.. Gillette Saf Ras (n5) Gimbel Bros........ Gimbel Bros pf (7).« Glidden Co (1.20). Gobel (Adolf). Gold Dust (234). Goodrich (BF)..... Goodrich BF pf (7)., Goodyear Tire (5)... Goodyear 15t pf ( Gotham Silk Hoslery Graham-Paig y Graham-Paige rets. . Granby Consol (2)..: Grand Stlver § (m1). Grand Unfon........ Grand Union pf (3).. Grant (W T) (1) Gr North pf (5). " Gr Nor ctf Ore (a%). Gr West Sug (1.40).. Green Cananea Cop.. Grigsby Grunow. . Guantanamo Sugar. . Gulf Mobile & North, Gulf Mob & N pf (6). Gulf States Steel. ... Hackensack W (1% ) 100, 4 Hahn Dept Stores. .. Hahn Dept 8 pf (6%) Hall (WF) Pr Co (2). Hanna pf (new) (7 Har Wk Ref (1214) 4 Hartman (A) (2) Hartman Corp (B) Hayes Body... Helma (Geo H) (17 Hercules Mot (1.80 Hercules Powd (3) Hershey Choe (5). Hersh Choe pt (15) Holland Fur (et2% Hollander Sons. Homestake Min (17) Houdallle Hershey. . Houston O1l (b10%). Howe Sound (14%).. Hud&Man Ry (3.50). Hudson Man pf (5).. % Hudson Motors (3).. Hupp Motor Car (2). Iilinols Central (7)., Independ O & G (2) .. Indian Motor Cycle Ind MotorCyele pf. ..120 Indian ReANIN. ... Ind Ray (h5% stk). . Ingersoll Rand (16) . Inland Steel (4)..... Inspiration Copper. . Ins ctfs (M) (60¢). . Interboro Rap Tran.. Interlake Iron (1)..« Int Agricultural.. .., Intl Bus Mach (n6) ., Intl Carriers (25¢).. Intl Cement (4). Intl Combustion Int Comb Eng pf intl Harvester (2 Int Harvester pf (1 Intl Hydro El A (e2 Intl Match pf (4).. Intl Mer Marine (2), Intl Nick of Can (1), Int1Pap & P (A) 2.40 Intl Pap & Pow (B).. Intl Pap & Pow (C).. Int Print Ink pf (6). . Int Rys Cen A pf (5). Intl Salt (3) (2).00 Inter Dept Strs (2).. Investors Equity (2). Island Cr Coal (4).., Jewel Tea (14). @ & Zoseros o ow rnonetnERovnnd Bannamnna - a3 onIT RN TuTe o » N NP AN NN RO BNE ~ND » BoNBANCANR=NNEE » wnmeN 7 2 1 13 113 19 118% 5 4% 6% 6% 114 114 55% 54 2215, 2134 159%4 (158% 113% 112 53 52 208 208 20 20% 106% 1061 218 2121 14% 18% 109 103% 106 105 12 12 202% 195 20% 19% 4 4 40% 40 1114 111% 102% 102% 45 45 384 37T% 10% 10% 5% 24% 10 34% 65% T 20% 32 61 — e Market Tumbles Again as Offerings of Pivotal Shares Increase. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 29.—Sweep- ing declines were witnessed in the last hour of trading in today’s .stock mar- ket. During the morning the list had been moderately higher, but in the afternoon the gains were canceled, the list turned sharply downward and new lows on the movement were made all along the line. posting of a renewal rate under 2 per cent. One result of the drop in the rate was withdrawal of money by the banks und a firming up of the market. Volume today was somewhat under that of Saturday, but was up to the average. MILLS ON FULL TIME. SUMMERVILLE, Ga., September 29 (). — Heavy Autumn orders have brought a resumption of full-time oper- ations at the Summerville cotton mills. The mills are now running five and one-half days per week and a smaller shift is operating at night in order to fill large orders which have been re- ceived during the last 10 days, Col. John D, Taylor, owner of the mill, said today. Conscientious Savings! Do you Save consistently? If not, begin today! explain our plan for encouraging ' regular Savings! Selling was urgent and bore every indication of being forced. Rails, oils and industrial specialties of all kinds were excessively weak. The opening was irregular, with more declines than advances and with con- tinued pressure on the oils. For an hour or so trading dragged along list- lessly. Bear drives against special issues met success, as, for example, Texas Corporation and United Fruit, but they did not unsettle the whole market as | they did Tast week, and the result was a rather general taking in of short contracts. +Pivotal Issues Gain. United States Steel ran up 2 points from Saturday's final. American Tele- phone had a larger gain, Westinghouse Electric, above 135, was 4 points higher than the low of the movement, and American Can, which had resisted the selling during recent weak sessions bet- ter than any other important indus- trial, forged ahead. It could not be said that sentiment in the Street was changed in the slight- est. Disappointment was still expressed over the business outlook, and pessi- mism as to particular situations was unabated. The oil stocks had almost no friends, but there was more liouida- tion in the rails, based on the August earnings statements. Texas Corporation was pressed for sale until it got down to the lowest since 1927, where the yield at the pres- ent dividend rate was more than 65 per cent. Texas. Corporation had the best year in its history in 1929 but, of course, like the other ofl producers it has suffered from the depression in the trade this year, The rails were not as heavily sold as on Saturday, but early in the day they recorded new lows, one of which was Baltimore & Ohio. The feature of the trading in both of these groups was the A BOND YIELDING 5%% by Largest Insurance Companies in New York State Associated Electric Com- pany 4%% Bonds, due 1953, combine to a marked degree safety and attractive yield. Earnings are over two times interest requirements on an overall basis, i ‘We are prepared to show statistically, based on the same tests used by insurance com- ; panies, that this security is’ selling out of line with its intrinsic investment value. These bonds enjoy an active market. e — Public Utility Investing Corp. * 1 Broadway, New York City Kindly send me Circular I-278. When selling prevails . . . THE basis for future wealth is laid by those who buy when everyone else wants to sell, This is more than a theory; it is an axiom. The financial world was electri- fied last November when during one of the panic days a bid was reputedly made by one of our wealthiest individuals for one million shares of Standard Oil of New Jersey Common at 50. And this on a day when things looked their blackest. 28 Companies are deposited under CORPORATE TRUST SHARES Courage, foresight and patience have been the characteristics of successful investors for genera- tions, Today is the time to buy an interest in the large corpor- ations in this country. Buy them as a group and hold them as a group through CORPORATE TRUST SHARES. Price at Market, about 7% per share Descriptive Circular on request GrAHAM, PARSONS & Co. 1422 WALNUT STREET 48 WALL STREET PHILADELPHIA NEW YORK 300 SOUTHERN BUILBING—WASHINGTON Telephone : District 9310 No Business Cycles THE business cycle has completed its swing, some economists say, pre- dicting that business is on the upturn «+ . and on the turn of the wheel the stock market reacts—prosperity .. fol- lowed by depression . . , followed by prosperity—BUT—no one can tell when the wheel will turn— And for those wise investors who do not depend on speculative stocks, the turn of the Wall Street wheel is a matter of slight importance . . . for they KNOW that their money, placed in a sound, never failing security, will always be safe . . . always working and earning for them . . . That is why so many hundreds of people have placed their funds in the 6 per cent First Mortgage Notes sold through Swartzell, Rheem & Hensey Company. They know that for more than 61 years, these Notes have always paid a steady, unfailing interedt return—despite the widest fluctuation in the financial market. There are no business cycles governing the value of First Mortgages— :fir affecting the payment of interest on em. s Suggesting —— the Real Estate Loan Plan of the Metropolitan Life Insurance Company as the ideal method of financing your home. Loans for Fifteen Years Low Interest Rates Reasonable Terms Loans Made in the District of Columbia and Nearby Maryland and Virginia 'WEAVER . BROX WESRERS Washington Building Mortgage Loan Correspondent Metropolitaw Life Tnsuranie Company District 9486 PIR'ST MORTGAGE FIXED VALUE; DEFINITE INTEREST No matter how extensive your investing operations—you want at least one that is fixed in its valuation—and definite in the interest it will pay. Our 6% FIRST MORTGAGES are popular for these two rea- sons. You don’t have to “watch the market” nor worry about dividends. You'll get exactly 6% regularly during the term of the mortgage—and at its ma- turity the principal will be re- turned intact, May be purchased in amounts from $250 up. SAUL CO. 925 ‘15th" St.- N.W., Over a Third of @& Wifhoq} a IS - NO SUBSTITUTE FOR = SAFETY Capital & Surplus ‘fuon,oon,” Open Until 5:30 P.M. Sept. 30th and QOct. 1st & 2d How Much Ahead Are You Every Payday? {l No matter how much you earn, you're really nothing “ahead” Paydays, unless something goes into a savings account. {l Start accumulating a dollar pile right now, and make this strong, old bank your co-worker, Deposits invited in any amount— Same Rate of Interest paid on large and small accounts, OFFICERS: 'WOODBURY FRANK STETSON, Vice Pres. and Trust Ofcer the District of Columbia | New York Ave. 55 T e Wiaeg, © ceuts, were S0 P ShmInAWYy 1t M M 0 entinusd on Fage 140