Evening Star Newspaper, January 2, 1931, Page 13

FINANCIAL, PRODUCTION OF GAS ON INCREASE HERE Gain of 22 Per Cent Reported for December Over Same 1929 Period. BY EDWARD C. STONE. Production of gas in Washington continued on the increase during December, Vice President Frank A. Woodhouse announced today, a gain being reported of 22 per cent over December, 1929. Although financial figures in all probability will show a drop, due to the reduction of rates, 733,348,000 cubic feet of gas entered Washington homes and factories in 29 days of this month, as contrasted with 598,080,000 cubic feet, irr the same period of 1929. .The average daily sendout, ‘as of December 29, was 25,287,000 cubic feet this year, as compared to 20,623,000 cubic feet last year. One of the largest days of the raonth was Wednesday, December 24, the day before Christmas, when 29,465,000 cubic feet of gas was recorded. On Chrstmas day the output was 28,270,000, or 1,195,000 cubic feet less than tre day | before. Figures for December 29 showed an increase of 23.9 per.cent over the cor- responding day of 1929. The produc- tion was 25,287,000 cubic feet on that day and 20,623,000 cubic feet on the same day of the year before. Dunn Joins Investment Firm. Richard P. Dunn has become associat- ed with the firm of Auchincloss, Parker & Redpath, Inc.,, 719 Fifteenth street northwest. Mr. Dunn is a native of Florida, having been educated in the public schools of that State, later Princeton Uniyersity, graduating with the class of 1919. He served in the World War with the nava] forces, and since that time has been engaged in the invest- ment banking business. For the past three and a half years he has been manager of the Washington office of Harris, Forbes & Co. The association of Mr. Dunn with Auchincloss, Parker & Redpath marks the further enlargement of this banking house, which opened here several months ago. Pleased With Passing of 1930. Bankers, brokers and investment dealers in general expressed pleasure over the passing, in a financial way, of 1930. However, in many ways 1930 was not such a bad year as it might have been. One local bank president said today that he would be perfectly satisfied if 1931 proves to be as satisfactory. Dur- ing the year {ust passed his bank paid regular dividends, plus an extra, all out of earnings. The bank also made & substantial addition to surplus. Other banks in the city have made a similar record, keeping up their divi- dends, paying extras without dipping into any surplus funds that are al- ways set aside for rainy days. Keep- lne up dividends, adding to surplus and lng the public efficient service is about all that any bank can be ex: pected to do. ' The local bank manage- men's are looking forward to 1931 with the expecqun of equaling or improv- nfi ‘their earnings this year. luch interest is b2 1ng manifested in the bank call due very shortly. It is expected that the banks here will show some increase in deposits over the last ‘call and quit> substantial gains over the corresponding call a year ago. This will be partly due to the steady in- creases made in savings accounts during the year, Reports on Wholesale Trade. Reports s'nt to the Federal Reserve lymn during November, and just public, indicate that wholesale firms sell groceries, dry goods, hard- ware and drugs had sales considerably smaller than a year ago. Reports for the 11 months of the year also showed decreases as compared with last year in the four lines of wholesale trade. Por the month drugs showed a de- crea~ of 1P per cent in sal°s; groceries. 17 per cent; dry goods, 28 per cent, and hardware, 28 per cent, as compared with sales in November, 1929. For the 11 months drug sales were 9 per cent less than last year: groceries, 6 per cent less; hardware, 18 per cent less, and dry goods, 25 per cent less. In no instance for either the month or the longer period were increases shown in the wholssale trade in any Federal Reserve district. Heard in Financial District. G. Bowle Chipman, resident partner of Harriman & Co. has returned from a two-week visit in Flotida and Cuba. John M. Riordan, vice president of the Bank of Commerce & Savings, has returned from a short business trip to New York. 1 A. Fieming left Washington yes- terday for several weeks' sojourn at Melbourne, Fla. Loca) bowlers belonging to the Amer- ican Institute of Banking will have a bowling tournament tomorrow at the Rendezvous alleys, the contests being og:n to any member of Washington Prizes are to be given for bot.h sm les and doubles, in three dif- ferent classes. J. Earle McGeary of Hibbs & Co. is in charge of the tourney, The Federal Reserve Board announces that the Boston Reserve Bank redis- count rate has beem reduced to 2’2 per cent from 3 per cent, effective Jan- uary 2. Today's Trading on Exchange. The year 1931 opened on the Wash- ington Stock Exchange with very mod- est_trading Capital Traction opened at 41, drep- ped to 40 and closed at 41 in sales that ttaled only 28 shares for the entire session. One hundred shares of Real Estate Mort=~~ & Investment preferred came out © 7% and 20 shares of East Wash- ’t: avings Bank appeared on the 4 ¢ 25. i1 he bond division, $1,000 Columbia. Country Club 5s sold at 100%. This issue has been listed on the exchange but & few weeks and has figured in sev- eral transactions above par. Small sales in Washington Gas Gs, series A, completed the day’s bond sales; Nearly all the banks in the city and many of the miscellaneous stocks on the board paid dividends on the 31st, 50 are no longer being quoled ex-divi- genf American Security_and Union , 85 well as Pederal Storage pre- farred, are due to pay dividends in a few days, the same having been voted some time ago. \ COMMODITY PRICES LOWER. By the Associated Press. General commodity prices continued to show a declining tendency last week as their change was calculated by the Department of Commerce. In the totals that follow the trend of average wholesale selling prices is given for based on 1920 verages as 100. In addition, the sell- ing price of & ton of composite stee! products is given for like periods: All » commodx- Week ended Deé. 27.. 'lfl 0 Previous week. Same ‘Week last year.. 93. l Bteel $31.66 31.68 35.89 AUTO SHIPMENTS GAm NEW YORK, January 2 (#).—The Ly- coming Manufacturing Co., an_Auburn suto subsidiary, reported an increase of 135 in December shivmenu dent, said January production has been it three um;ymr December, PARIS DISCOUNT RATE CUT. PABB, Ji ‘The Bank ’:zrl,nm its rediscount Nm—umcn-n-oxammn exce gn &hnn NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. jundred-share lots ose designated the letter 8 (80s) (250s) those stocks tz, be sold 'in odd lots only. lndlvldlnl sales compiled to noon—complete in 5:30 umm. ~Prev.1930— igh. 8614 66 37% 23% Low. 836 Abitibi P& P ot (6).. Stock and Dares— Dividend Rats. Add 00. High. 2 4141 4 1 28% 28% 28h 164 17T% Low. Close. Gioww’ 394 21 Abraham Strauss.. 26 14% Adams Exp (1.60) 16% 214 Advance Rumley. 3% 3% 2% Alr Reduction (14%) 951 101 97 Ajax Rubber. I, Alaska Juneau (40¢). 4 M % Allegheny COrp. ... ™ 8% TH Alleg Cp $30 ww 6% . 39% 42 Alleg Cp $40 ww 6%, 40% Allied Ch & Dye(n6). 176% Allls Chalmers (3).. 34%, 5 Amerada Corp (2). % Am Agricul Chem Am Agri Chem ctfs. 2 Am Agricul Ch pf.. Am Agri Ch pf ctfs Am Br Shoe (2.40).. Am Brown Bov Elec. Am Brown B E pf (7) Am Can (15). . Am Can pf (7) Am Car & Fdy (6) Am Chicle (13). 4 Am Colortype (2.40). Am Com Aicohol. Am Encaustie (1) Am European Secur. Am & For Power.... 4 Am & For Pow 24 p! Am Hawallan (a10). Am Hide & Leather. , ARDHBRNB 8 B ) o Am Home Pr ( Am Ice (t4) Am Interna Am Locomotive (2). » [TPE-INI= TP SUpETIN.. PRSPRSTeEe- | Am Nat Gas pf (7)., Am Power & Lt (r1). Am Pow & Lt pf (6). Am Rad&Std San(1). Am Republics. ..... Am Roll Mill (n2)... Am Safety Razor (5) Am Seating........0 Am Ship & Com..... Am Sm & Ref (4). Am Snuff (133).... Am Solv & Chem .. Am Solv & Chem pt Am Steel Fdy (3).... Am Sugar Ref pf(7). Am Sumatra Tob. Am Tel & Tel (9) Am Tobacco (5) Am Tobacco B ( Am Type Fdy pf ( Am Water Wks (3) Am Woolen. .. Am Woolen pf. Am Zinc Lead & Sm. Anaconda Cop (2%). Anchor Cap (2.40) Andes Coprer (1) Armour of 111 (A) Armour of 11l (B) Armour of 111 pf (7). Arnold Constable. .. Asso Dry G (2%)... Asso Of1 (2) Atl Coast Line (110). At1Gul?& W1(3).. Atch To & S Fe (10). Atch To & S F of (5). At Refining (12) Auburn Auto (34 @ - 52 TP PPN e&a Baldwin Loco (1%). Baldwin Loco pf (7). Balio & Oh1o (T).... Balto & Onio pf (4). Barker Bros (2) Barnsdall A (2). Bayuk Cig 1st pf (7). Beatrice Cream (4).. Belding-Hemingway Bendix Aviation (1). Borden Co (k3). Borg, Warner (1). Briggs Mfg(11.62%) Brockway Mot Trk.. Bkiyn-Man Tr (4)... Bklyn Union Gas (5) Bruns Ter & Ry Bucyrus (1).. Budd (E ) Mfg. . Z Budd Wheel (1) Bullard Co.. Bulova Watch (3) Burr Add Mach (1), Bush Term deb (7)., Butte Copper & Zinc. Butterick Co Byers (A M) Calif Packing (4).... Calumet & Arizona.. Calumet & Hecla. ... Campbell Wyant (27. ; Canada Dry G A (3). Can Pac new (2%).. Cannon Miils (1.60). Case (J 1) (6). & Caterpillar Trac(14) Celotex Co. ... Celotex voting ¢ Cent Agutrre An 1% . Cerro de Pasco (4). - s » B e = = e Ry O N o T S P T TP TP P T, Ce - Chesapeake Corp (3) Chic & Alton. Chicago Great Wn pf Chic M1l St P & Pac. . Chie M1l St P & P pf.. Chi & Northwn (4).. Chic Pneu Tool. .. Chi Pneu T pt (3%) Chic R 1 & Pac (1) Childs Co (2.40) Chrysler Corp (1)... City Ice & F pf (6%4) City Stores (50¢). Coca-Cola (6). Coca-Cola A (3).... Colgate-Pal-P (2%) Collins & Aikman Colonial Beaco Col Fuel & Iron ( Colo & South (3) Col Gas & El (2) Co! Gas & El pt A (6) Colum Graph (a%).. Columblan Carb (16) Comm Credit (2).... Comm Credit A (3),, Com In Tr (g1.60)... Com In T ev pf (e6).. Comm Solvents (31) Comwlth & 8o (60c). 42 Comwlth & So pf (6) 10 Congoleum-Nairn. .. Consol Cig pr pf 6% . )00- Consol Film (2).. 3 Consol Film pf (2). Consol Gas N Y (4).. Cons Gas N ¥ of (5). Cons RR Cub of (6) ., 4 Consol Textlie . Container A (1.20) Container B Contl Baking A. Conu Baking B. Contl Can (2% « Contl Dia Fibre (1)++ Contl Insur (2.40)... Cream of W ht(Yz%) 4 Crosley Radio Crown Cork (£2.40 4 Crown C&S pf(2.70). Crucible Steel (k§).., Crucible Steel pf (7), 1 Cuba Cane Prod..... Cudahy Packing (4). Curtis Publish (11)..’ Curtiss Wright Corp, Curtiss Wr Corp A. Cushman's pt (7). Davison Chemical Deere & Co pf (1.40). Del Lack & Wn (11). Denver & RG W of.. Detroit Edison (8), .. Diamond Match. . Diamond Match pf. ., Dome Mines (1) Dom Stores (31.20).. Drug Corporat (4).. Du Pont de N (14.70) 76 89 DuPdeNdebpf (6). 1120 Eastman Kodak (19) 160551814 120% Eastman Kod of ( 1 11% Eaton Axle (1.60) 2% Eitington. 33 Elec Auto e o5 6% 12 57% 804y 114% 142% PP oas ~Prev.1930~ gh. Low. Stock and Dividend Rate, Electric Boat. . El Pow & Lit (1), El Storage Bat (§ Eq Offic Pldg (2%) Erfe R R. Add oo 3 High. Exchange Buf (1%). 4 Fairbnks Morse 1.60. Fashion ParkAs pf Federal Screw (1). Fed Wat Sve A 2.40. Fid Ph Fire In (2.60) Firestone T& R (1). Firest T & R pf (6).. First Nat Strs (2%). ~ Fisk Rubber. ... Fisk Rubber 15t Fisk Rub 18t f cv. Follanshe Bros (1) Freeport Tex (15). Gen Am Investor Gen Am 'k Car (14) Gen Asphalt (3). Gen Baking pt (8).... 403 Gen Cable. Gen Cable pf (7). Gen Electric (1.60) Gen Elec spec (60c). Gen Food Corp (3) . v Gen Mills (3) Gen Motors (13.: Gen Motors pf (5). Gen Outdoor Adv.. Gen Out Adv (A) (4) Gen Pub Sve b6 % stk Gen Ry Signal (5). nal pt (6) :m Gen Realty & Utll... Gen Refract (t4%).. Gen Theatre Equip. . Gillette Saf Raz (4). Gimbel Bros.. . Gimbel Bros pf (7) Glidden Company Gobel (Adolf) Gold Dyst (2% Goodrich (B F) Goodrich BF pf Goodyear Tire (5). Goodyear 1st nf (1) Gotham S H pf (7) Graham-Paige Granby Consol ( Grand Silv sm(m). Grand Unfon,.. Granite City 8t (3) Grant (W T) (1). Gr North of (5) Great Nor Ore(12%) Great Western Sugar Gr West Sug pf (7). 4 Grigsby Grunow. 4 Indian Gulf Mobile & North, Gulf Mob & N pf (6). Gulf States Steel.... Hahn Dept Stores. .. Har Wk Ref (1234).. Heroules Pow pE (13, Holland Furn (12%) Hollander Sons. Hershey Choo (5) . Hersh Choc pt (15) Houdaille Hershey. . Household Fin pf (4) Houston Ofl (b10%). Houston Ofl (new).. Howe Sound (14%). Hud&Man Ry (3.50). Hudson Motors (3) Hupp Motors. illinots Central (7) Indian Motor Cycle. Indian Refining. . Refining ret: Indus Rayon (4). Ingersoll Rand (16). Inland Steel (4). Inspiration Copper Insuranshar,Del 40c. Ins ctfs (Md) (80¢).. Interboro Rap Tran. Intercont Rubber Interlake Iron (1 Int Agricuitural, Int] Bus Mach ¢ IntlCarriers (50c intl Combustion, Intl Cement (4) 2 wSoaSarannne NTdomn A Int Harvester pf (7). 4 Intl Hydro El A (e2) Intl Mateh pf (4)... Intl Nick of Can (1). Intl Pap & Pow (C).. Intl Pap & P of (1) ., Intl Printing Ink. Int Shoe (3) Intl Tel & Tel (2) . Inter Dept Stra (2).. Investors Equity. Island Cr Coal (4). Jewel Tea (15 Johns-Manville (3) Jones&Lavh of (13,2208 Zordan Motor Car... Kans City Sou (5)... Kans City Sou pf (4) Karstadt (R) (1.03)., Kelly-Spring 8% Kelsey Hayes (2) Kelvinator Corp ... Kennecott Copper(2) 63 Kinney (GR) (1)....2508 Kinney (GR) pf (8). 10s Kolster Radlo....... 1 Kresga (SS) Co 1. Kresze Dept Stores Kreug & Toll (1.60). Krog Gr & Bak (n1).. Lambert Co (8) Lane Bryant (2 Lee Rubber & T! Lehigh Port Cm h Port Cem pt (1) Lenigh Valley Coal Lehman Corp (3).... Lehn & Fink (3).... Lig & Myers B (15) Lima Locomotive Liauid Carbonie (4). Loew’s. Inc (14).... 1750s Loew's Ine pf (634). Loew’s pf xw (6%).. % Loft Inc Loose- Wiles (12.50). Loose-Wiles 18t (7). Lortllard (P) Co. Loutsiana Ofl. . LouG & E (A) (1%) Louts & Nash (T).... Ludium Steel Mac And & ¥ (12.85). McCrory (A) (2). McCrory (B) (2). McIntyre Pore M (1) McKeespt Tin P1(16) McKesson & Rob (1) McKes & R pf (3%). McLellan Stores Mack Trucks (4). Macy & Co (nt3).. Mad Sq Garden(60c) . Magma Cogpper (3).. Manati Sugar. Manati Sugar pf. Man Elev mod g (df) Manhat Shirt (1 Maracaibo Ol Exp. Marine M1d (1.20). Marlin-Rock (16%) Marmon Motor Car.., Marshall Field (2%) Mathieson Alkali (2) May Dept Strs (n2) Maytag Company Maytag Co pf (3) Mengel Co (2) Mexican Seabs Miami Copper Mid-Cont Pet . Midland Steel (3) ... Minn Moliné Pow Mil El R & Lt pt (6 Min Hon'w Reg (14 MStP&SSM, Monsanto Ch (§1%). Montgomery Ward Motor Wheel (3)...v 4 Mullins Mfg... Murray (B) (2% stk) Nash Motor: Nat Acme (80c) Nat Bella Hess. sm 507% 81 3219 28 9% ;m\ 23 2% THE EVENING STAR, WASHINGTON, D. C. FRIDAY, 51)',9. 81 32% 29% 41 4% ', | prices. ;| With 6 per | active than usua .|sum set aside last year, JAN ISTOCKS IRREGULAR Trading in SmaII'Volume as Street Awaits Definite Business News. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 2.—The first business day of 1931 ond the Stock Ex- change was one of irregularly lower Trading was in small volume and the Street was in a subdued mood, awalting tangible signs of business re- covery before bidding up stocks. ‘The most pronounced weakness in the 2| early morning trading was_the utility group, where advances at the close on Wednesday had been the most con- spicuous. _ For example, American Power & Light, which had run up more than 7 points Wednesday, sold off 5 points and American Waterworks, which had gained over 6 points, slumped 15 points. Other Losses. Then there were some considerable lostes in the chemifal shares. Matheson Alkali made @ new Jow and Allied Chemical had a sharp setback. ~Here the influence was reports of price cute ting in chemical products, but with- drawal of support from short covering had something to do with the decline 85 well, The standard industrials moved in a narrower range, but they, too, regis- tered losses during the morning trading. U. S. Steel went down a point or so, Westinghouse had a little larger loss and the selling side had the better of it in the more volatile issues, such as J. I Case, Vanadium, Colombian Carbon and Auburn Auto, with the last- named down at one time 4 points. In all of this it was difficult to read any forecast of trade conditions. The turnover was so low as to deprive the movement of any real significance. As far as price changes did indicate any- thing, it was that. speculators were more confident of near-term improve- ment in the motor feld and in the copper industry. Motor stocks, exeept Auburn, were noticeably firm when the Test of the market was heavy, and the copper stocks met good Support. Railway shares moved more or less with the rest of the list. There was nothing to look forward to, now that the Eastern consolidation plan has been announced, except larger car loadings and improved earnings, of which there is as_yet no sign. New York Central and Baltimore & Ohio were among the more active of the carrier shares and both resisted selling better than the average. Central was favored by buy- ers because of its equities, and Balti- % i more & Ohio on the belief that it stood | to benefit more* than any other one sys- tem from the proposed new grouping. Call money renewed at 3 per cent, but was in such_excessive supply that be- fore noon it had been marked down of- fictally to 2 per cent. Early Changes. After opening higher, the market eased slightly, and trading slowed down as the morning progressed. Sales in the first half hour amounted to 237,500 shares, which compares with 324,900 in the same period Wednesday, and 458,000 on the first day of last year. Call money renewed at 3 per cent, which contrasts cent on the first day of 1930. Motors, in anticipation of the opening | of the national show here Saturday, were fairly firm, though profit taking in Auburn lowered its initfal price of 107! by 4 points. In the utilities, North American and International Telephone reacted after opening higher. Amer- ican Power & Light and American Wa- ter Works were each off about 4 points. dyear Tire & Rubber was more and doya about 13 points. In the industrials, Allied Chem. ical proved the most active of the | higher-pri issues, losing about 4 points after its initial rise of 11; points, United States Steel at one ume showed a loss of 3, but quickly recovered. B. & 0. IMPROVEMENTS WILL COST $35,000,000 By the Associated Press. BALTIMORE, January 2.—Improve- | ments planned by th> Baltimore & Ohlo Railroad for 1931 will total approxi- mately $35,000,000, nearly double the it was an- nounced. The largest single expenditure con templated is $4,000,000 for new equip ment, the remainder being scheduled to go for additions and improvements | throughout. the system. | The 1930 expenditure for these pur- | poses was $18,000,000. An automatic !train control stem _installed between ;phmdclphm nd Washington cost $412,000. 6,000 ORDEBED TO WORK NEW YORK, January 2 (#).—Six thousand employes are to return to of the Frigidaire Corporation, a General Motors Corporation subsidiary. E. G. Biechler, president and general man- ager, ann uxnced that orders had gone out to 2,000 supply sources for $7,000,000 worth of raw materials for initial manu- facuring. REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD tnyited on high - class dwellings, rtiet business pro if 5o destred. National 0475 avariments and iarly on well loc: for 3, 5 or 10 ye 1520 K St. N.W. e, Money to Loan ! Secured by first deed of trust on real estate. d_comm] 0. & Trust Joxepl: I wel.LCI: ‘mqr 9th & F N. Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. SEE US ABOUT LOANS On improved real estate situated in Washing- ton and its suburbs. WE have first mortgage money to loan for re- financing or construction purposes. You'll find us ready to give immediate assistance. We purchase 2nd trust notes secured by improved real estate. @ REALESTATE | MORTGAGE & GUARANTY CORPORATION Capital Resources, $3,800,000 aobness 1610 KST.N.W. work today at the Dayton, Ohio, plants | , 1931, INFLATION POLICY SEEN BY M’FADDEN cozz| N LOWER TREND]mome s s s tion May Follow Cheap Money Rates. A possible result of what Chairman 'adden of the House Banking mmge described as the new mn.uon policy of the Federal Reserve Board may be a stock market stimulated by speculation. Last week, McFadden said, in a sur- vey of financial conditions facing the United States in 1931, the Reserve ird changed from a policy of deflation be- gun with the Hoover administration, to the policy of inflation maintained under President Coolidge. “This important change was appar- ently the result of the recent confer- ence held abroad when Gov. Harrison of the New York Reserve Bank con- ferrrd 4n London, Paris and Berlin wit's the heads of the central banks in Eu.ope,” McFadden said. “rhis plan is intended to make money and credit cheap through the lowering of the discount rate to 2 per cent and the application of open market opera- tions and that of publicity—the three greatest powers at the command of the Federal Reserve system.” “Money is only easy for those of large financial ~ strength,” he continued. “Rates of interest are low only on the highest grade of securities. If credit therefore, is released because of this change of Federal reserve policy in mak- ing money cheap, it will be used in spec- ulation in the stock market or else will be used in the bond market. “If the money is used in the stock market, it will again accelerate specula- tion; if in the domestic bond market, it :\fll largcly be used in refunding opera- ions.” Another alternative result of easy money, the banking chairman said, is large foreign loans’ with shipments of gold abroad. Such operations, he said, “may be fraught with the same dangers of the change of policy which termi-| nlnkd in the subsequent orgy of specula- tion.” McFadden said the “full effect of lhlsl change” and July. DAILY CLEARING HOUSE FIGURES DISCONTINUED By the Associated Press. NEW YORK, January 2—The new ruling of the New York Clearing House Association abolishing publication of | caily clearing house figures became ef- fective today. Hereafter only the regu- lar weekly statement will be published, The action to abolish publication of ‘the daily figures was taken largely to abolish gambling schemes that had sprung up in many sections, based on the published figures. Since establish- ment of the Federal Reserve System the figures had lost much of their barometric significance. PARIS BOURSE PRICES PARIS, January 2 (#).—Prices moved | irregularly on the bourse today. Three per cent rentes, 85 francs 75 centimes. Five per cent loan, 101 francs | 60_centimes. Exchange' on London, 123 francs 71, centimes. The dollar was quoted at 25 | francs for 100 cenumes POTATO HABKET. would seen between April | We have an opening in an old established invests ment house for an experi- enced stock and bond salesman. Apply, giving past experience. Address Box 149-H, Star Office. Equitable Co-Operative Bldg. Ass’n Organized 1379 51s¢ YEAR COMPLETE! JOHN JOY EDSON, President WALTER S. PRATT, Jr., fietll)'!ll Assef $5,901,12248 Surplus & Profits., .. 81,818, CSS 92 SYSTEMATIC SAVING That is the sure way to get ahead financially and the way to prepare for any-emergency. We will gladly explain our sys- tematic saving plan. CHICAGO, January 2 () (U. 8. Dept | Agr.) —~Potatoes, 106; on track, 176; total U. S. shipments Wednesday, 865: | Thursday, 443; steady: trading only | fair; sacked, per cwt., Wisconsin mund whites, 1.55a1.70; Minnesota, 145a1.50 135“ A45; Colorado, Mccxum bnnded [ ECONOMICAL If you do not care to invest in new tires, why not have SUPER-TREADS applied to your present tires? Every tire we Super-Tread is guaranteed to give no trouble whatsoever or money refunded. The Cost is Reasonable For Example 30x4.50. .. 28x4.75. .. 29x5.00. . . 29x5.50. . .$5.30 32x6.00. . . ...$6.40 Other Sizes in Proportion LEETH BROS. 1220 13th St. NNW. Met. 0764 4201 Conn. Ave. Clev. 1444 .$3.95 .$3.95 .$4.70 The Shoreham Building Offers Office facilities of superior character—for corpora- tions, individuals, pro- fessionals—in a building that has been planned by experienced, equipped modernly, finished appro- priately — and serviced efficiently. You won't find this combination so fully carried out—with such complete consistency— anywhere else. 3 There is prestige to teyancy in the Shore- ham Building. Single rooms or spacious suites are available. Inspection ’t Yyour convenience. MEKEEVER & GOSS t.c Representative of the Owners SHOREHAM INVESTMENT COMPANY Rental Office, Room 520 15th at H National 5643 National Metropolitan Bank 15th St., Opposite U. S. Treasury 1814—Oldest National Bank in the trict of Columbi. ) Open Until 5:30P.M. Today To accommodate Pay Day depositors, T h e Metropolitan will remain open un- til 5:30 p.m. today. Now, while the NEW YEAR is young, is the right time to open a Sav- ings Account. Get yours started TO- DAY. 3% o+ Savings Auchincloss, Parker and Redpath INCORPORATED INVESTMENT SECURITIES iational Savings and Trust Building Washington, D. C. WE ANNOUNCE WITH PLEASURE THAT Mr. Richard P. Dunn FORMERLY WITH Harris, Forbes and \Conpany HAS THIS DAY ASSOCIATED HIMSELF WITH US January #, 1931 Teleghone Metropolitan 3114 CONVENIENCE ... Income from 30 ““Super-Corporations™ received in a single check . . .. .... PIHE bother of recciving in- come from as man different involved plete and well - diversified common stoek program, Income is received in a sin- gle check twice a year. And the investor is relieved of all bothersome details. In addition to convenience, these shares offer immediate marketability, a liberal ceturn and attracti P profit as America returns to normal. ‘omposite Moody rating o handling warrants, proxies, etc., from this same number of com- panies, make a well-diversi- fied common stock program impracticable for the average investor. Super-Corporations of America Trust Shares offers in a_single moderate-priced Write or telephone security an unusually com- complete information. Price at ilie Market, Around 6% Robert C. Jones & Co., Inc. Investment Bankers 210 Investment Bldg. “Years of Investment for ME't. 2922 perience” SAFE P RIS MIQRT GR.GES PUT ON YOUR INVESTMENT LIST FOR 1931 OUR 6% FIRST MORTGAGES You can make the amount large or small; you can add to your investment from time to ‘time as you have surplus funds —and all the time they are so invested you will receive this fixed interest. And all the time your principal is. secured in conservatively appraised Washington real estate. It’s aminvestment doubly at- tractive—in the generous re- turn; and the safety, May be purchased amounts from $250 vp. Over a Third of a . Century Without a Loss in B F. - SAUL CO. 925 15th St. NN'W.