Evening Star Newspaper, November 29, 1930, Page 11

FINANCIAL., WASHINGTON STORE SALES ON INCREASE Bain of Two Per Cent in THE - _EVENING STAR, WASHINGT NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Note—All stocks are sold in one hundred-share lots 'e ting those designated by the letter s (80s) (2508) which shows those stocks to be sold in odd lots Salese Prev. Add 00. High. Low. OClose. Close. 2% 37% October Shown by Reserve | x§§: Board Report. BY EDWARD C. STONE. In a detailed report covering depart- ment store sales in October in 45 of the largest cities in the United States, released by the Federal Reserve Board this noon, it is an. unced that 'ashi, year, sales in Bal- timore were up 4 cent, and At- ta 2 per cent, placing business in these “three cities ahead of all the large citles of the country. All the other large cities in the country reported a decrease in sales over the corre- Charles H. Doing, 5 was the hardest hit, sales being off 25 per cent. Detroit came next, with a 22 per cent slump, and Akron was third in the list with a 21 per cent decline. Cleveland followed with a 16 per cent drop, but Chicago, which was down 25 per cent in the previous month, was only 13 per cent behind last year in October. Minneapolis made a particularly good showing, sales being just the same as in October, 1929, In Birmingham sales ‘were down 12 per cent, Boston 10, Cin- cinnati 1, Columbus 8, Indianapolis 13, Kansas City 6, Louisville 4, New Or- leans 6, New York 5 and St. Louis 8 per cent. Ten Months' Trade Compared. ‘Taking reports of retail trade from 261 cities all over the country, the Re- serve sums up trade percen from J:::Ary ‘lv wh llilo‘\:mberxyl.l h: report shows Washington onl pel cent behind last year, while Baltimore has kept department store sales up to the same figure as a year ago. ‘Trade is only 1 per cent in Omaha, while Newark and New York have kept sales up to the level of last year. Cin- cinnati is only 2 per cent behind, and Atlanta and Boston are within 2 per cent of last year's ten months’ business, Less fortunate cities are Detroit, off 20 per cent; Akron 19, Toledo 17, Bir- mingham 14, Cleveland and Memphis 12, Milwaukee and Chicago 11 and Salt Lake City 10 per cent. Naturally the trade status of Wash- tngton and Baltimore helps to make the showing in the fifth reserve district ex- tra good. In the comparison by the board covering the 12 Federal Reserve districts, the Richmond district stands at the top with a 2 per cent gain in October over October, 1929, The other 11 districts reported declines ranging from 4 to 14 per cent. Local Area in Second Place. Fot the 10-month period New York is Just ahead of Richmond. Trade in the New York district area is now only 1 cent under last year, while in the E:hmnnd territory it is off 2 per cent. On the other hand, the 10-month rec- ord shows that Chicago has suffered the largest loss in retail trade to date, 3 gl’mlhlul’; districts retail trade was off 8 per cent in October and 6 per cent for the 10 months. The follow: per- centage comparisons with last 1{ur pic- ture the situation in a nutshell, in Oc- tober and from January to November 1: Jan. 1 Number Reserve district. Total 261 cities. ton cisco . Sales Compared by Departmentts. The Reserve Board also compares sales by departments in October, giv- ing the following percentage gains or losses in the stores in the local Rich- mond district; A PIECE GOODS. and velvets. it underwear . Ik, musiin und ants' a1l 0 gflwrln. uphoistery . ina, wiassware .. Doing Program Vice Chairman. Charles H. Doing, vice president of the Washington Loan & Trust Co., has been appointed by President Lanier P. McLachlen of the District. Bankers' As- sociation as vice chairman of the Con- vention Program Committee. Mr. Doing has been with the trust company for 30 , is a graduate of the Georgetown W School, and has done a great deal of work for the bankers' association. He is president of the Washington Country Club and a past president of ‘Washington Chapter, American Institute of Benking. At present Mr. Doing is vice president of the trust company section for the District of Columbia for the American nkers' Assoclation. He has served local association as a member of the Protective Committee and of the Commercial Trade Activities Committee, has also been chairman of the Insurance Committee and a member of the council of administration. In 1928-1929 he was chairman of the Audit Committee, on :hl:lch he had previously acted as vice Convention work is not at all new to him. He has been especially useful in planning the sports events for previous conventions. In 1926 he was chairman of the Sports Committee, and in other years served as vice chairman or as a member of the committee. Last Spring he was chairman of the convention | Publicity and Press Committee. J I intment he will be laude H. Woodward, mmt of the Mount Vernon Savings who is program chairman. Pennsy Dividend Checks Out. ‘Washington holders of Pennsylvania Raliroad stock were receiving mi ;:.n. lar ly dividend of 81 per share. holders. The compan: were mailed to 233,372 stock- y has now paid 193 consecutive dividends, amounting to /961,072, —— V. 8. TREASURY BALANCE. The United States Treasury balance snnounced today as of clos: of busl- ness November 26, was $94,674,509.95. Oustoms receipts for the month to date were ,366,648.65. Total ordi DATY expenditures $3,446,362.54, — e — Moderation and balance were « tdeals of classic Greek thought, 9% 354 ~Prov 1930~ Hieh. Low 8y 1 314 Stock and - Dividend Rate. Abitibi Pow & Paper Adams Bxp (1.60)... Advance Rumley. ... Alr Reduction (t43) Alr Way El Ap (1%) Alaska Juneau Allegheny Corp. Allex Cp ww $30 53 . Allied Ch & Dye(n6). Allls Chalmers (3)., Alpha Port Cmt (1), Amerada Corp (2)... Am Agricul Chem. ., Am Bank Note (13),. Am Browr Bov Elea. 2 Am Brown BE pf (7) 10s Am Can (15) Am Car & Fdy (6)... Am Chicle (+3)...... Am Colortype (2.40). Am Com Aicohol. . Am & For Power Am & For Pw pf Am & For Pw pf (7). Am & For Pow 24 pf, allan (a10). omotive (2).. Am Ma & Fy (11.65). Am Metals&Min (1), Am Power & Lt (r1). Am Pow & Lt of (6).. Am Rad&Std San(1). 16 Am Roll Mill (n2)... 17 Am Shipbuilding (5) 2008 Am Sm & Ref (4).,. 19508 Am Sm&R 24 pf (8). Am Sm & Ref pt (7. Am Solv & Chem Am Stores (1234). Am Sugar Ref (5). ¢ Am Tel & Tel (9).. Am Tobacco B (5). Am Water Wks (n1). Am Wat W 1st pf (6) Am Woolen. ... Am Woolen pf... Am Writg Paper pf., Am Zinc Lead & Sm. 1'% Anaconda Cop (2% ).11259836% 2 30% Anchor Cap (2.40). Andes Copper (1). Archer-Dan-M (2 Armour of Ill (A) Armour of 11l (B) Asso Appl Ind (4). Ass0 Dry G (2%).. Atch To & 8 Fe (10). AtlGulf & WI(3)... AtGulf & W Ipt (5). At Refining (12). Atlas Powder pf (6). Auburn Anuto (34)..., Aviation Corp of Del Baldwin Loco (1%). Balto & Ohlo (7). Barker Bros (2) Barnsdall A (2) Belding-Hemingway Bel N Ry pt pf $5.61. 1 Bendix Aviation (1). 16 Best & Co (2).. 11 Bethlehem Steel (6).7964s Bethlehem St pt (7). Borden Co (k3). Borg Warner (3).... Botany Con M (A). Briggs Mfg Co. Bklyn-Man Tr ( 14 Bulova Watch (3) Burns Bro: Butte Cop & Z (50¢) Butterick Co . Ryers (AM)......q0 Byers (A M) pf (T).. 20s Calumet & Artson Calumet & Hecl Campbell Wyant (3). Canada Dry G A (5). Can Pac riew (23%). Capital Admin (A Capital Adm A pt (3) 1 2.ees 1008 Cerro de Pasco (4).. * & Checker Cab (4.20).. 19 Chic & Alton 12 Chi6 Great W 4 Chicago Great Wnpt 8 ChicMIISt P& Pac.. 3 Chie Mil St P& P of. Chi & Northwn (4).. gmn R1&Pac (7)., City Stores (50¢).... Coca-Cola (§).. Colgate-Pal-P (2%). Col Fuel & Tron (1).. Col Gas & E (2)..., Colum Graph (a%).. Columbian Carb (1) ‘Comm Credit (2). .., Com In Tr {g1.60) Com Inv Tr war st Comm Solvents (3! Comwlith & 8o (§0c). Comwlth & 8o pf (6) Congoleum-Nairn... Consol Clgars (5) .. Consol Cig pr of 6% . 4 Consol Film (2)..... 4 Del Lack & Wn (11). - 18 10% Consol Film pf (2).. Consol Gas N ¥ (4).. Consol Textile Contl Baking A. Contl Baking B Contl Can (23). Contl Dia Fibre (1), Contl insur (2.40)... Cuban-Amer Sugar.,, Curtis Publish (17).. Curtiss Wright Corp Curtins Wr Corp A, Cushman’s pf (8). Davison Chemteal. ., Deere & Co pf (1.40) Dome Mines (1), . Drug Corporat (4) Dunhill Int (1).e..e Du Pont de N (14.70 Bastman Kodak (18) Bastman Kod pt (6). Eaton Axle & 8 (i Eitington-Schild a is wBhiwens Bt cnanesResie b S 5 El Pow & Lt pf (1) El Storage Bat (5) BrioRR........ Erie RR 18t pf (4)..., Eureka Vac Cleaner.. Fed Motor Tr (80e).. Fed Wat Sve A 2.40. Fid Ph Fire In (2.60) Filene's pf (8%).... Firestone T& R (1). Firest T & R pf (6).. First Nat Strs (3%). Fisk Rubber........ Fisk Rubber 18t pf. Foster Wheeler (2).. Fourth Natl Invest. . Fox Film (A) (4)... Freeport Tex (16). .. Fuller 2d pf (17 40), Gen Am Inv pf (6) Jen Am Tk Car (3, S oo o e 5 Srva BBl Bna % BolwBrvwwar Suleodmone s .o Gen Elec speo (60¢) . Gen Food Corp (3). .« Gen Gas&El A(e30e) Gan Motors (13.30)., Gen Motors pf (5)... Gen Qutdoor Adv.... Gen Pub Serv (b8) .. - Son Great Nor Great Wi PETRA 3 1 1 1 ST 95258 116% 6 36% 2 119% 16 68 10 20% 3% (Y 104 62 198% 37 54% 54% 1164 9814 181% 4 1872% 107% 634 100 6 17% 21 6 36% 301y 17% 16% 4 2% 28% 27T% 188 YW 48 5214 21% 997 9% 3% 26% 72 114 14% 31 6% 18 40% 61 119% i 18% 40% 613 13% 5% 94 181 16% 9% 22 1% 11 44 108% 36% only. 10 19% 8% 100% 1 6% 915 631 196% 861% 82 1165 3614 39% 20 1% 7% 85% 9715 L 774 201 20% 301 35 201 497 181% 1865 107% 186% 424 52% 21% 9919 ki 3% 264 1% 1% 141 314 767 1% 40 60% 1191 6814 173 13% 5% 9 18 16% 95 281 14 101 43y 106% 35 10 12% 42y 4 ~Prev.1930— High, m;. 55% T 17% 85 41 2% 831y 6 4% 384, 4 Kelly-Spring Tire. Stock ana Dividend “Rate. Grigsby Grunow....) Gulf Mob& Npf (6). 1 Hahn Dept Stor. Hall (WF) Pr Hanna pf (new) (7) Har Wk Ref (12%) Hayes Body Hersh Choc Hoe (R) & Co Houdaille Hes Houston 011 (b10% Houston Ofl (new).. Howe Sound (1434).. Hudson Motors (3) Hupp Motors.... Illinots Central (7) Indian Motor Cycle. Indian Refining. Ingersoll Rand (18 Inspiration Copper: rance Sh (46c) tfs (Md) (60c) lake Iron (1), Int Agricultural. Intl Bus Mach (n) Intl Carriers (25¢). intl Cement (4) int] Combustion. Tnt Comb Eng pf. Intl Harvester (2%). Intl Hydro El A (e2) Intl Match pf (4).... Intl Mer Marine (2), Int] Nick of Can (1), Int] Pap & P of (7) Intl Printg Ink (2%) Int] Salt (3)..... Intl Tel & Tel (2) Inter Dept Strs (2).. Jewel Tea (15). Johns-Manvilie (3) Jordan Motor Car. Karstadt (R) (1.03) Kayser Julfus (2%4). - 5 T TSI=TPI =PRI TSSO 1) - PR L fo P PO UIoY- S0P = s Feman s afana Kelsev Hayes (2) Kelvinator Corp . Kend Co pf (16.37).. Kennecott Copner(2) Kinney (GR) (1).... Kinney (GR) pf (8). Kolster Radio Kolster Radio ¢ Kresgs (SS) Co 1.60 Kreug & Toll (1.60).. Krog Gr & Bak (nl). » T CE %« Lambert Co (8’ 5 Manhat Elev gta (7) 195% 5 5914 3214 50% 1614 Lehigh Port C: ) Leh Port Cem pf (7). Lehigh Valley Coal.. Lehman Corp (3). Libbey O Ford Glas: Liggett & Myer (16). Lig & Myers B (16).. Lima Locomotive. ... Liquid Carbonie (4). Toew's. Inc (14).... Loew's pf xw (634) o L i Loose-Wiles (+2.90). Torillard (P) Co.... LouG & E (A) (1%) Loufsiana Ofl. Loufs & Nash Ludlum Steel. . MeKeespt Tin P1(16) McKes & R pf (834), McLellan Stores. .. Mack Trucks (6), Macy & Co (n#3). Madison Sq Gar (1) Magma Corper (3).. Man Elev mod g (45) o » » -3 SN I DN e B i i 1O 120 1 B 9900 0 30 10 19 T 9 20 <310 09 59 1 4 00 S e Manhat Shirt (1). Marine M14 (1.20) Market St Ry pr pf.. Marshall Fleld (234) Mathieson Alkall (2) Mny Dept Strs (n2).. Maytag Co (1)....00 Maytag Co pf (3), Melville Shoe (2). Mengel Co (2).. Mexican Seaboard Miami Cepper. Mid-Cont Pet (2). AMidland Steel (3) Midiand Steel pf (8). Min Hon'w Reg (14) . Minn Moline Pow. ... Mo Kan & Tex (3)... Mo Kan & Tex of (7). lssour) Pacific..... Montgomery Ward.. Mother Lode (20¢). . Motor Meter G & El. Murray (B)(2% stk) Nash Motors (4) Nat Acme (13%). Nat Alr Trans. Nat Bella Hess. Nat Biscult (13.30).. Cash Reg A (14) Natl Dairy (2.60). ... Y Alrbrake (3.60). Central (8). Chi &8t L (8) Ch &St L pt (6). Dock. . a N N N N N N N N N Y Y Y T i b % T T H&Hpf (7). N Y Steam pf(6).... Norfolk&West (112) North Am Aviation.. Nor Am (b10%stk).. No Ger Lloyd (3.43). Northern Pacifie (). Ohto O11 Co (2) Oliver Farm Eq Ollv F Eqpf A (6 Oliver Farm Eq ¢ Omnibus Corp....... Omnibus pf (A) (8).. Otis Elevn (234) ..., Otis Elev pf (6) . .00 I Otis Steel..... Pacific Gas & El (2).. Pacifie Lighting (3). Pacific Mills........ B Packard Motor (€£0¢) Pan-Am Petrol (B) Pennev (JC) (3). .0 Penn Coal & Coke. Penna RR (4).... People’s Gas Ch (8) .y Pere Marquette (18). Petrol Corp (1%)..e Phelps Dodge (3).... Phila Read C& I. Philiips Petrol (n2) . Pierce Oll pf. Pirelll [taly (a3 Pitts Steel pf (7) Pittston Co (75¢) Tel & C pf (1) Oll & Gas (2) Pipe L (15) Pub Sv N J (3.40) Pub Sv N J pf (5) Pure Of1 pt (8 Purity Bakerl Radlo Corp, Radio Corp (B) (5) Radio-Keith-Orph A. RR Sec ICstk C (4). 208 Rayvestos Man2.60.. 8 Sk (6)...ovee. 6 Tteis (R) & Co 1st pf.2008 Item Rand (1.60).... 17 Republic St Republic Stes Reynolds M Reynolds Tob B (3) Rhine W El P (2.16) . Richfield O11. Ri -ande Ofl. Rossia Insur (2.20) Royal Dutch a3.2185, Safeway Stores (5).. St Joseph Lead (13).. 8t L-San Fran (8)... St L-San Fran pf (6) Schulte Retail pt (3) 1 S Sonio Shell Un O3l pf (6%) 11 Snubert Theaters. ... Simmons Co. SinelairCon Oil (1).. Sou P Rio Bug (1.40), 1 100% 3 8 126k 7 13 48% 59 6 60 220 108 9548 44y Sales— Agd 00. Righ. Low. 12 4 4 54 102 12% 38 Rk 561 126% 13 48% 5814 6 58% 216 108 10 271 9514 100% 44w D C SATURDAY, 'NOVEMBER 29, 1930. 33 36 34 6y 17 2514 8% 1214 91 16% 214 8674 STOCK LIST MAKES PARTIAL RECOVERY Rebound at Close Follows Lifting of Ear_ly Selling Pressure. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, November 29.—Stocks rallied in slow trading in today's week end market, Volume was so low that the movement had no greater signifi- cance than pointing to the reluctance of operators for the decline to put out any ‘more' commitments over the week end. In the absence of this pressure there was.a natural rebound. Rallroad shares came back partially along with the industrials. Perhaps re- flection overnight brought the conclu- slon that the situation was not quite so bad as the spokesman for the railroad executives pictured it. At any rate; after opening lower, with Atchison down 3 points, the carrier stocks re- covered more or less. Before this had happened Southern Railway had dupli- cated its previous low for the year, and Union Pacific had sold off 2 points from Friday’s close. Utilities Come Back. It was much the same with the utili- ties. Lower prices in the first half hour for American Power & Light, for Ameri- can Water Works and for others in the group were followed by recoveries. United States Steel, opening a shade lower, came back a point and American Can. Westinghouse Electric, General Electric and General Motors moved sympathetically. Steadiness in the Cop- pers was noteworthy. Reports from the metal trade were more encouraging and the stocks seemed to be sold out, Among the merchandising stocks the most active was Woolworth. A block of 15400 shares came out at & point advance. The speculative community is favorably disposed toward Woolworth, which has made a good sales record notwithstanding the depression. Mail order stocks were firm and higher most of the time, Oil Group. At first there was some selling of the oils, with Standard of New Jersey lower and Standard of New York at its pre- vious low. Phillips Petroleum sagged and so did most of the other independ- ents, but before the close these losses had as a rule been made up. It is the price situation that is holding back the olls. The overproduction problem, for the moment at least, is not as serious as it was, During the session an unusually large number of odd lot sales appeared on the tape, evidently for recording tax losses. This is an operation which is likely to confuse interpretations of the market until the end of the year. —_—— ABITIBI POWER. NEW YORK, November 29 (Spe- cial).—Declaration of the regular divi- dend on Abitibi Power 6 per cent preferred stock was not generally ex- pected, as its price had dropped 50 points this year to 36, where it appeared 1 to have discounted a less favorable divi- ‘dend policy. Today the dividend on Crown Zellerbach common stock was omitted, owing to poor conditions in the paper trade. This action had been anticipated in a decline in the com- pany’s shares to a nominal figure. NEW YORK, November 29.—Broker- age house comment today was unde- cided as to how far the current re- action in stocks would run. Some com- mentators believed the November lows would be well tested, but others sald no major reaction was to be expected, although prices might work lower. Opinions follow: Smith, Graham & Rockwell: “It is not possible to tell how far the present reactionary tendency may run. No evi- dence is furnished of its endin Mar- ket looks lower. Poor stocks should be sold, and there need be no hurry -bout buying the good ones.” Pask & Walbridge: “There seems to be increasing evidence that the m-o':s financial interests are more interesf in ae""f the market stabilized around present levels than to have any appre- ciable movements.” Jackson Bros, Boesel & Co.: “We anticipate somewhat lower prices for the immediate future, but can conceive of no sizable concentrated liquidation which might warrant a major reaction. ‘Trade news for the fourth quarter shows every indication of conllnull‘lrls unfavorable, and further scatte: liguidation may be induced by the run of the news.” Hornblower & Weeks: “The market has now reached a point where there should be some signs of definite resist- ance to further selling if we are to witness a further extension of the tech- nical recovery which got under way from the low point registered on No- vember 10.” ‘Winthrop, Mitchell & Co.: “Any sell- ing of railroad shares at present levels appear completely to overlook the pos- sibility that railroads eventually will develop into completely rounded trans- portation units—rendering varied serv- ice on Jand, air and water, as well as directing their energies to the task of hauling ‘trains over fixed lines of steel rails.” Redmond & Co.: “If the November lows hold, we are inciined to believe that the market may enter a trading area within the limits or this month’s highs and lows, pending definite indi- cations of the trend or 1931 business. While many of the country's leading bankery, business and rafiroad execu- tives are of the opinion that we are in the final stages of the depression, there is still considerable doubt as to how wide a valley must be crossed before business starts on the up-grade.” FRENCH T0 BUY WHEAT, NEW YORK, November 29 (&) France will be substantially in the mar- ket for Canadian wheat this Winter, H. H. Stevens, minister of trade and com- merce for Canada, said on his arrival from England aboard the Aquitania. Mr. Stevens believed arrangements made in France for the sale of Canadian wheat would extend over several years. While he was disappointed that no wangible trade arrangement had been made at the imperial conference, which ae attended, Mr. Stevens said he was pleased that the conference had cre- ated a far better understanding be- tween the units of the empire., Subscribe Today It costs only about 1% cents T day and 5 cents Sundays to ve Washington’s best newspa- per delivered to you regularly every evening and Sunday momn- ing. g'elephm National 5000 and the delivery ~ill start immedi- ately. The Route Agent will col- lect at the and of each month. SOUTHERN BUILDING COMPANY announces the appointment of H. L. Rust Company 1001 Fifteenth Street as rental agent of Year Capital & Swrplus 3,500,000 The SOUTHERN BUILDING 15th @ H Streets N. W. onal Savings & Trust Co. Oldest Savings Institution in the District of Columbia Cor. 15th and New York Ave. Safe Deposit Boxes at Nominal Serve Your Own Interests —by keeping your Savings Account on the increase. Wh}i,le fcftifging yourself against adversity, you help your bank make credit available to keep local business Wwheels going. Thus thrift becomes a civic as well as a personal advantage. An army of over 50,400 thrift-workers utilize the facilities of this strong, old bank. Why not join forces with us now—Pay day’s at hand? OFFICERS: WILLIAM D, HOOVER. WOODBURY BLAIR. FRANK STETSON, DIRECTORS: 2nd Viee Pres. and Trust Ofcer JOHN M. BOTELEI AUDLEY A. P. SAV; 3 ViR BIUCE HOWE D 8. HUIDEKOPER UFFMANN FINANCIAL. R — NET PROFIT OF 250 FIRMS SHOWS 33 PER CENT DROP By the Associated Press. NEW YORK, November 29.—The 250 industrial, utility and raflroad corpora- tions for which comparable earnings years, of this year a decrease in of 33.2 per ocent from the 1029 period and a decline of 15.7 per cent from the 1928 period, Standard Statistics Co. reports, BUILDING CONTRACTS GAIN. By the Assoclated Press. Building made the comparative ; showing during the week ended No- vember 22 than for several months. In = campilation by the Commerce Department, contracts executed for the mn ‘east of the Rocky Mountains to- t & dally average of $12,5690,000, as against a daily average of $10,366,000 thé previous week, and $12,717,000 for the same week of last year. First Mortgage Loans Lowest Rates of interest and Commission Ut B Money on Hand to Loan on First Deed of Trust 6% Interest Pfll&fl lies to = m Abplications JAMES F. SHEA 643 Louisiana Ave. N.W. Money to Loan Secured by first deed of .::.'Q...-'l‘l' Wi Prevaill ;‘li;“ ‘a" 'i." Joseph estate. n. On improved Real Estal 1321 Connecticut Ave. | SAFE Fid RYST Over a Third of a Century Without a Loss | y | Mol;_ nl;":‘ C:r‘::p:n.‘r:: ntial Insurance Co. of America On Our Liberal 20-Monthly-Repayment Plan No Endorsers Required A Strictly Dignified and Confidential Service Maryland Personal Bankers e 8 e 80 3 Public Small Loan Ce. Phone Ciapenion oo Wen e First Mortgage Loans in the District of Columbia and nearby Maryland and Virginia for 3, 5 or 10 * year ferms on your 5%% RANDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESFONDENT New York Life Insurance Company Office Building Business Property MORTGAGES § THERE’S A DOUBLE APPEAL —for investment in our 6% FIRST MORTGAGES For one thing the interest is most liberal, and changeless throughout the term of the mortgage. curity is so sound—conserva- tively appraised real estate—s as to insure the safety of the principal. And then the se- May be purchased in amounts from $250 up. B. F. National 2100 of means ke but the fam a rare exception. a horse and with two carriages was SAUL CO. 925 15th St. NNW. Two-Carriage Families BACK in the “Gay Nineties,” the family earriage— Today—the modern family considers old-time luxuries as necessary conveniences...not only does the family of 1930 require a motor car— the tendency is for many fami or more cars— country. to have two For the modern family is also a two-income family—its income augmented by ownership of some sound, steadily-paying security, such as First Mortgage Notes...a security that yields & never failing interest return, safe and secure no matter what the financial condition of the The 6% First Mortgage Notes sold through the Swartzell, Rheem & Hensey Co. have for more than 61 years paid every investor & steady, prompt and unfailing interest return- giving to hundreds of families the security of a steady income, independent of earned salary. SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS J27 15 STREET N.W., / WASHINGTON D.C. I THERE IS NO SUBSTITUTE FOR SAFETY