Evening Star Newspaper, January 29, 1931, Page 13

FINANCIAL LOAN ASSOCIATION | INCREASES ASSETS) "2 Takoma Park Institution Re- parts Increased Earnings for 1930. BY EDWARD C. STONE. Stockholders of the Nortwestern Sav- ngs & Loan Association, at the annual meeting in Takoma Park, were in- formed that the company had enjoyed an excellent business during the year. It was announced that the associa. tion's resources on December 31 were u 709,139, an increase of $137,052 over the previous year. Surplus and undi- vided profits were reported as $102,351. The usual dividend of 7 per cent Was earned and paid during 1930 and $12,- 31.97 carried to surplus. The following directors were elected for the coming year: E. V. Crittenden, W. S. Dewhirst, Howard S. Gott, Al- fred B. Baker, Dr. J. W. Chappell, Dr. G. F. Coulon, Frederick Lewton, L. B. Burdett, W. R. Tuckerman, Dr. J. W. Btockberger and Jesse H. Powell. "The officers of the association elected for 1931 are E. V. Crittenden, president; W. S. Dewhirst, vice president; Howard 8. Gott, secretary-treasurer; and Al- fred B. Baker, atiorney. Bank Parley Plans Pushed. A meeting of the General Committee on Arrangements for the Central States Bank Management Conference which meets here on February 26 and 27 was held yesterday afternoon. Reports were submitted by President H. H. McKee of the National Capital Bank, chairman of the Program Committee; Vice Presi- dent Edward J. McQuade of the Liberty National Bank, chairman of the Hotel Committee, and Vice President C. H. Pope of the Munsey Trust Co., chair- man of the Transportation Committee. 1t was announced that arrangements for the conference and the entertain- ment of the visitors had practically been completed and that the program would be announced shortly. Southern December Net Up. Operating results of Southern Rail- way for the month of December make the best showing for any month last year, compared with 1929 period. De- spite a decline of $1,794,137 in gross revenues, or 16.5 per cent, net operating fncome of $2,007,983 was only $65,089 below December, 1929, It is estimated by the Wall Street Journal, that the Southern finished the ear 1930 with net income of roundly ,000,000, which after providing for pre- ferred dividends, is equivalent to $4.60 a share on the outstanding $130,000,000 common and comparing with $11.65 a share in 1929. It is therefore evident that Southern covered its fived charges by slightly over 115 times and retained the legal status for its bonds now legal investments for savings banks in the State of New York and elsewhere. ‘The estimated earnings place the net on common stock at $4.60 a share, $11.65 a share earned in 1929. American Stores 1930 Sales. American Stores Co. maintained its 1930 sales close to the 1929 dollar despite a steady decline in throughout the year. Gross sales led $142,770,476, a decrease of only 4 per cent below the $143,346,156 volume in the preceding year. ‘The small decline in dul].lt volume indicates that the company inci fll physical volume over that handled 1929. During the year about 75 nores net were added, total number at the end of 1930 approximately 2,725. Increase in number of units, however, did not increase volume of sales suf- ficiently to compensate for the decline in retail prices. ‘The chain reported net income for the first half of 1930 equal to $1.75 a share or at the rate of $3.50 Anmnlly compared with $1.81 for the first half of 1929 and $4.25 for the full ear 1929, Last year’s earnings ve ex- ceeded $3.50 as the second half of the year is usually more profitable because of the holiday season. Dividends of $2.50 for 1930, consisting of $2 regular and 50 cents extra, constituted the usual annual disbursement to stockholders. Graymur Corperation Reports. "The report of the Graymur Corpora- tion for year ended December 31, 1930, shows profit of $342,003 after expenses and State taxes excluding $354,257 loss on sale of securities. Capital stock con- sists of 175,000 no-par shares. Investments in miscellaneous cor- porations at cost of $7.806,541 had a mn‘kfl value on December 31, last, of 861,401. In addition, the corporation holds 16,800 shares of its own stock, carried at a cost of $445.895, which had ;‘smnxkel value of $403,200 at end of ‘The report states indicated liquidat- ing value of outstanding stock as of December 31, 1930, including invest- ments at market value, was $34.20 a share, comparing with $45.16 a share on December 31, 1929. Tidewater Lines’ Officers Named. The annual meeting of Tidewater Lines, Inc., operating motor bus pas- senger service between Washington, Baltimore and Southern Maryland and freight service between the foregoing points and through Western Maryland and Pennsylvania, resulted in the fol- Jowing re-elections: President, E. D. Hathaway, Washing- ton; vice president, Maurice Otterback, ‘Washington: treasurer, James P, Ryon, ‘Waldorf, Md.; general manager, J. W. Amdt, Baltimore; additional directors, Joseph M. Mattingly, Leonardtown, Md.; Judge Mitchell Diggs, La Plata, Md. Raphael Semmes of this city is a new director. New Hotel Directors Chosen. At the annual meeting of the Wash- fngton Hotel Co. three new directors were elected—-Mrs. Blanche P. Hall, Mrs. Evelyn 1°. Hines and Willlam B. Wolf. All the officers were re-elected, including Appleton P. Clark, jr., pres dent; Cuno H. Rudolph, vice president; Charles H. Pardoe, secretary, and Ralph 'W. Lee, treasurer, Directors, E. C. Graham, Appleton P, i Samuel J. Prescott, Dr. Wil- Reeves, Charles H. Pardoe, Lee, Joseph H. Galliher and Cuno H. Rudoiph. The Executive Com- mittee is composed of Messrs. Clark, Prescott and Pardoe. Heard in Financial District. The Pennsylvania Railroad Co, has declared the regular quarterly dividend of $1 per share, payable February 28,! to_stockholders of record February 2. W. W. Spaid, partner in the broker firm of W. B. Hibbs & Co., is back at his office after two weeks passed on the ks at Miami, Fla. , vice president of the al Bank, has recovered severe cold that kept him at home several days The North American Co. is donating $2,500 to the Red Cross relief fund in New York. Company’s subsidiaries throughout the country are also contrib- uting locally to the fund. The Norfolk & Western Railroad de- clared the regular quarterly dividend #f $2.50 on the common, payable March 29 to stock of record February 28, Other Financial Notes. Directors of International Business Illchlnen Corp. have declared the reg- uarterly dividend of $1.50 a share, 1;‘ 2Aprll 10 to_holders of record ch 20. ‘The twelfth annual Convention of the Morris Plan Bankers’ Association will be held in Columbus, Ohio, October 8, 9 and 10, according to J. Rodney Ball, president of the association. Sherwood Bros. announce that the receivership action by the Richfield Ofl Co. of California has nothing to do with the finances, business or status of Sherwood Bros. and that the firm will continue to receive its gasoline from Richfield without interruption. NEW YORK STOCK EXCHANGE lob—mmahlnlulh one_hundred-share lots those designated by tlll mm- s (ll)l) (250s), shows those stocks were sold D Abitibl Pow & Paper, 40 Abitibi P& P pt (6) 18 A Bxp 22 Adll'nl Mfllll 2) 21% Addressogr Co 1. 3 Advance Rumley...s 12 Advance Rumley pf. % Ahumada Lead 92% Air Reduction (t4 1/.) 7% Airway El Ap (60¢).: % Ajax Rubber....... 7 Alaska Juneau (IOC) 7% Alleg Corp. 39% Alleg Cp $30 ww 5% . 49% Alleg Cp $30 x" 515 . . 0)i.. 153'% Allied Ch & D; u (né) 30 122 AllledCh & D pf (7). 327 Allis Chalmers (3). .. 15 Alpha Port Cmt (2).. 17% Amerada Corp (2)..s 54 Am Bank Note (13).. 40 159 123% 361 62 Am Bank Note pf (3)110! 2 118 Am Br Sh& F pf (7). 50 814 Am Brown Bov Elec 45% Am Br B Epf (7. ).. . 708 106% Am Can (15) 146 Am Canpf (7). 27 Am Car & Fdy (6). 74% Am Car & Fdy pf (7) 29% Am Chain (3 16% Am Colortype (2.40)% 9 Am Comcl Alcohol. .y 9 Am Encaustie (1). 19 Am European Secur, 26% Am & For Power.. ., 74 Am & For Pw pf (6) .« 69 Am & For Pow 2d pf. 86% Am & For Pw pf (T)a 7 Am Hawailan SS...« 47% Am llome Pr (4.20)., 28% Amlce (3). 181 Am Internat (2)..... 8% Am La Fr & Foamite 7 Am La Fr & Foam pf 20 20% Am Locomotive (2) 72% Am Locomot pf (7) 81 AmMch &Fdy 1.40.. 17% Am Met & Min (1)... 52 AmNews (f4)....ow 45 AmPow & Le (11)..., 94% Am Pow & Lt pf (6) . 80 AmP &L pfA st (5) 16% Am Rad & St San (1) 28 28% Am Roll Mill (n2).., 6 567 Am Safety Razor (5) 2 % Am Ship & Com....« 39 Am Shipbuilding (5). xo- 40% Am Sm & Ref (4)see 11 37 Am Snuff (13%)eewe; 1 105 Am Snuff pf (6) awes !0- 2% Am Solv & Chem. 25 Am Steel Fdy (3) 110 Am Steel Fdy pf (7). Am Sugar Ref pf (7) 8 Am Sumatra Tob 16% Am Tel & Cable (5)...1!0- 176% Am Tel & Tel (9).... 52 104 Am Tobacco (16)...u 8 104% Am Tobacco B (16)we 32 124% Am Tobacco pf (6).. 1 105 Am Type Fdy pf (1) 10s 53% Am Water Wks (3).. 10 102 Am Wat Wistpf (6) 2 6% Am Woolen. . 21 Am Woolen pf. 26 Am Zinc & Lead pf. 2 29% Anaconda Cop (2% )« 48 28 Anaconda W & C (1). 27 Anchor Cap (2.40). 13% Andes Copper (1) 102 Archer-Dan pf (7). - © ELE TP N F FESTerestoe. 3 388 Armourof Ill pf (7). 24% Asso Appl Ind (4) e’ 22 AssoDry G (2%)..e. 178% Atch To & SFe (10).. 105 Atl Coast Line (110), 81 Atl Gulf & West Ind. 50 AtlGulf & W Ipt (5) 18 Atl Refining (12) 97% Atlas Powder pf (6). 8% Atlas Stores (n1)... 101% Auburn Auto (f4) 1 Autosales.. Sesy 3 Aviation Corp of Del. 20% Baldwin Loco (1%).. 88% Baldwin Loco pf (7). 68% Balto & Ohio (7)... 108 Bang & Aroos pf (7). 8 Barker Bros (2)... 11% Barnsdall (A) (1)..a 65 Beatrice Cream (4) 50 Beech-Nut Pkg (3).. 234 Belding-Hemingway, 78 Bel N Ry pt pf 15.51a 16% Bendix Aviation (1)« 82% Best & Co (2) 45% Bethlehem St 114% Bethlehem St pf (7). 24 Blaw-Knox (1%)... 20% Bohn Alum & Br 1%, 67% Borden.Co (k3).. 20% Borg, Warner (1) 16% Briggs Mf (11.62%). 16% Briggs & Strat (2). 2 Brockway Mot Trk, 58% Bkiyn-Man Tr (4)... 85% Bklyn Man Tr pf (6). 104 Bruns-Balk-Col.. 5% Bruns Ter & Ry S 14% Bucyrus (1)... 25 Bucyruscv pf (2%)e 9 Budd Wheel (1)..... 11% Bulova Watch (3). 211 Burroughs A M t134. 23y Bush Terminal (2%) 100% Bush Term deb (7).. 40s 109 Bush T Bldg pf (7)..1 1% Butte Copper & Zin 1 Butte & SUperior ... 12% Butterick Co..ceoeee 7% Byers (A M)... 42% Calif Packing (4) 8 Calumet & Hecla. 11% Camp W&C Fy(l)... 29% Canada Dry. v 384 Can Pacific (23). . 17% Cannon Mills (1.60).. 914 Capital Admin A. 99 CarClin & O sta (! 81% Case (JI) (6).. % 113 Case (JI) pf (7). 23% 8% 14% 4“ 110 26% Caterpillar Trac ( 4% Celotex vic ctfs...ea 28 Cer de Pas Cop (2). 2% Certain-teed Prod 17% Checker Cab (1.80) 39!5 Ches & Ohio (2%)... 40 Chesapeake Corp (3) % Chi& Alton. ... hi & Alton pf. 614 Chi Great 19% Chi Great West pf. 5% Chi Mil St P & Pac. 915 Chi MilStP &P pf.. 33 Chi & Northwest (4), Chi & N W pt (1) 10 Chi Pneu Tool. 47% Chi RI&Pac (7).... 94 ChiRI&Pacpt (7). 21% Chi Yellow Cab (3)..420 2513 Childs Co (2.40). 15% Chrysler Corp (1). 77 City Ice & F pt (6% 24 City Stores. 142% Coca-Cola ( 50% Coca-Cola A (3). 47 Colgate-Pal-P (2 12 Collins & Aikman. 21% Colo Fuel & Iron (1), 33% Col Gas & El (2). T% Col Graphoph (a%). 73% Columbian Carb (16) 18% Comel Credit (2).... 1 79% Comel Cred 1st (6%) 208 20 Comcl Cred pf (1%).1408 25 ComclInTr (£1.60). 3 274 Comel Inv Tr war.... 1 10214 Comcl inv Trpf6%. 1 15% Comcl Solvents (11). 33 8 Cmwlth & Sou (60c). 48 91% Cmwith & Sou pt (6) 4 6% Congoleum-Nairn. 9 16% Copsol Film pt (2 1 8214 CohsolGasN ¥ (4)., 73 102 Con Gasof NY pf(5). 10 % Consol Textile...... 2 65 Container A (1.20) 1% Cont) Baking A.... 15 24 Contl Baking B..ee.. 3 47 Contl Can (2%).... - 8 Contl Motors....ee 9% Contl Ol of Del. . gao 815 Contl Shares (1) .. em 76% Corn Prod (13%)...; 19 146% Corn Prod pf (7) wexs 108 84 Coty Inc.... 3 4% Crosley Radlo. 81 Cr Cork & Seal 2.40 103 Crucible Steel pt (7). ’o- Cuban-Amer Sugar.., 1 Delaware & Hud ()4 26% 103 110 103'& @ 4 51% B0% 40 154% 128% 8514 15% 18% 5% 64% 121% 9% 50% 25 102% 110 llll lmlll Il. Detroit Edison (8) Devoe & Ray (1.20) v Diamond Match.«.ou Dia Match pf (1.50). Dome Mines (1). .vue Domn Stores (1.20) v Drug Corp (4) -« vmm Dunhill Internat. . s Dupont de Nem (4).¢ Du P de N deb pf (6), Eastman Kodak (18). Eastman Kod pf (6)« Eaton Axle (1.60)..w Elec Auto Lite (8) .3 Elec Pwr & Lt (1) v« Elec Pow & Lt pf (6), Elec Pow & Lt pf (7). Emerson Brant A. . w 3% Emerson-Brant (B) e Endicott-John pt (7} Brie RR.eouesvernen Erie RR 1st pf (4)..4 Evans Auto Loading. Eureka Vac Cleanera, Fairbnks Morse 1.60 Fashion Park As pf.,.100s Fed Lt & Tr DL (6) ws 508 Federal Screw (1)sse 1 Fed WatSvA (2.40)s 5 Firest T & Rpf (6) .« First Nat Strs (2%)s Fisk Rubber. Foster Whee ~Ewan LTSS Freeport, Tex (4) we Gamewell Co (5)ome Gardner MOtOT. s vwen Gen Am Investors. .y Gen Am T Car (14) es Gen Asphalt (3). .ems Gen Baking pf (8)ase % Gen Bronze. Gen Cable A Gen Cable pt (7) Gen Cigar (4) .o em Gen Elec (1.60). Gen Elec spec (60c. Gen Focd Corp (3) a1 Gen G & ELA (e30c)s Gen G & El cv pf (6), GenG&EIDLA (8)m Gen Mills (3).. Gen Mills pf (6) Gen Motors (3 Gen Motors pf (5) Gen Outdoor Adv. Gen Pub Sv b6% stke Gen Ry Signal (5) wes Gen Realty & Utll .y Gen R & Ut pt (€6) vy Gen Refractories (¢), i Gen Theater Equip. Gillette Saf Raz (4) Gillette Saf R pf (5)+ Gimbel Bros. .eemes Glidden Co.. 4 Gobel (Adolf) 4 Gold Dust (23) Goodrich (BF). Goodrich B F pf (7)« Goodyear Tire (5).ae Goodyear 15t pf (7). Gotham Silk Hoslery, Gotham 8 H pf (7).s Graham-Paige, ... Graham-Paige retsy Granby Consol (2) w: Grand Sl Strs (h1) e Grand Union Ghranite City i Grant (WT) (1)seee Grt North pf (5) e et Grt Nor Ore (2)...uw Grt Western Sugar.. Grt West Sug pf (D Grigsby Grunow ... Guantanamo Sugar.s Gulf Mob & N pf (6). 4 Hahn Dept Stores, .o Hahn Dpt 8t pf (6%) Hall (WF) Pr Co (2) Harb Walk Ref (2)x Hartman (A) (2).ve 3% Hartman Corp (B).a Holland Furn (12%): Hollander Sons. ... Houdallle Hershey ..y Household Fin pf (4) Houston Oll. « cvswmes Houston Oil (NEW) va: Howe Sound (4). . Hud & Man Ry (3.50) Hudson Motors (3) w Hupp Motors....... Tilinois Central (7) w % Indian Motor Cycle., % Indian Refining..... Indian Refining rets., Ingersoll Rand (16). % Inspiration Copper.s Insuranshar Del 40¢. Ins ctfs (Md) (60c).. Interlake Iron (1) .. Int Carriers (25¢) wow Int Cement (4)....ue Int Harvester (2% ). Int Hydro E1 A (e2)4 Int Match pf (4)...0 Int Merec Marine (2)y 4 Int Nick of Can (1).s Int Paper & POW A et Int Paper & Pow C.as 4 IntSalt (3). e Int Shoe (3 % Int Silver pf . Int Tel & Tel (2).vew Inter Dept Strs (2) e Johns-Manville (3).. Johns-Manv pf (7).« Jones & Laug pf (7). KC P&L 1st pf B.(6). Karstadt(R) (al.03). Kelly-Spring Tire... Kelsey Hayes (2). Kelvinator Corp. Kennecott Cop (2) Kolster Radio....... Kresge (SS) Co 1.60.. Kresge (SS) pf (7).. Kreuger&Toll(1.60),. Kroger Groe&Bak(1) Lambert Co (8). Lane Bryant (2 Lee Rubber & T} Leh Port Cmt (1) meme Leh Valley (33 ) cwva Lehman Corp (3)«s va Liggett & Ligg & M. Lima Locomot (2). Link Belt (2.40)., Liquid Carbonic (4) s Loew’s Inc (3) . Loft Inc. . Loose-Wiles (12. 70). Lorillard (P) Co..un Louisiana Oil. LouG&EA (1%).., Louls & Nash (7). e Ludlum Steel. - Ludlum Steel pf...os MacAn & For (2.60) . MclIntyre Porc M (1) McKeesp T P (14%) 4 McKesson & Rob (1), McLellan Stores. ... Mack Trucks (4) +oes Macy & Co (nt3) Manati Sugar. Manati Sugar pf.... Man Elev mod g (45) Manhat Elev gtd (7). Manhat Shirt (1).ees Marine Mid (1.20)..4 Market St Ry pr pfos 4 Marmon Motor Car. . Marshall Field (2%). Mathieson Alkall (2) May Dept Strs (n2).. Mengel Co pt (7) Mexican Seaboard Miami Copper. Mid-Cont Pet (2 Midland Steel (3 Minn Moline Pow . Minn Moline pt (6% Mb Kan & Tex (a3).. Mo Kan & Tex pt (7) Monsanto Ch (81%). Montgomery Ward. . Morrell & Co (4.40) . Mother Lode. . . Motor Meter G & El. Motor Products (2).. Motor Wheel (3)...a Munsingwear (3) ..« Murray Corp... Myer (F E) & Br (2). Nash Motors (4). Nat Acme (80c) Nat Alr Trans. "o 3 » ey - e 00 0 B 02055 00 1 I 1 1 1 DO 1O 1 4 00 55510 010 00 1 bt 10 10 1t O 10 1= 69 DO DO O @ 00 4 = 14 00 00 ot e 10 S e o EIT TSI R L AP UT ORI -~ IR (RSP M : o < wolonenml anaommamBaaBamanes » » Nat ll“ Nat Lead DfB (l) 7! Pow & Lt (1). " " Natswea (4. DN e (Continued on Page 14.) DECLINE IN STOC . MARKET CONTINUES Selling Movement Resumed. Agitation for Bonus Affects List. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, January 29.—Stocks worked irregularly lower but in light trading and without outstanding weak- ness in today's market. The reaction was a continuance of the selling move~ ment of Wednesday's session and was accelerated by doubts as to the legis- lative situation in Washington as well as to the market’s technical position. Sentiment toward the stock market was influenced to a large degree by the weakness in bonds, which in turn was ascribed to the agitation over the various measures for the payment of large sums to veterans and the convic- tion that if any of these measures were enacted it would mean a huge govern- ment bond issue and a harmful effect on both the bond and the stock mar- ‘The best opinion in Washington was to the effect that the proposed legislation would fail of passage, but that view did not serve entirely to reassure the Street. Favorable News. At the same time the market showed itself willing to respond to good news. ‘The Montgomery Ward earnings states ment came out overnight, showing a profit in the fourth quarter against net losses in the three preceding quarters, This evidence of recovery brought active buying in the stock, with a gain of 1 to 2 points and a new high for the year. Sears-Roebuck advanced sympa= thetically, and all this in a market which elsewhere was sagging. During the morning hours the stand< ard industrials made little progress one way or the other. United States Steel was down a point or so, but American cnn was__only naily change General Electric and General HOWI'I yielded slightly, but the loss was not significant in either case. Motor stocks as a whole, however, were decidedly heavy. Studebaker made a new low and Mack Trucks was under . Auburn Auto ranged higher, it that stock moves independently of the others in its group. Early Market Irregular. After a lower opening, the market turned dull, with a few stocks recover- ing a small part of their early and others rémaining depressed. United States Steel, dropped at one time to 139%, down 1% and at a new low for the movement, but subsequently it improved a shade. Bethlehem Steel was tionally off at the start and then equalled its previous close of 49. Vanadium was off 1, at 4735, Money renewed at 112 per cent. Approximate trading in the first half hour was 200, 000 shares, or the same as on Wednes- day. The declines in utility, industrial and rallroad shares on Wednesday brought fresh nflerlngs from shorts todly. How- ever, part of the early losses in Allied Chemical, Case Threshing, Westing~ house, Montgomery Ward, American & Budmn were recovered when support ppeared. Mine shl.rm were quiet 2ha unchanged. were dull. At~ lantic Refining dmp'ped 12 to 21%, MEXICAN SILVER MINE PRODUCTION DECLINES Special Cable Dispatch to The Star. MEXICO CITY, January 29.—Mexi~ can silver mines lost upward of $20,« 000,000 in produs value in 1930, ace tfl‘“flx to unoffic: to- day. These are based on the m:t that in the first 11.months of M Mexico exported 6,628,066 poundl silver which, at an average price of 3412 cents an .unce, had a total value of S3346l 393. In the corresponding period of 1929 the country exported 677,220 pounds of silver, which broughi gi{stienv.:u an ounce, or a total of $5. ‘The drop in the price of silver in the world markets has been costly to Mexico, which not long ago derived its hfinds:umest hpnmflts from rt:?‘l:d metal e mines ve, Bow o T- ations to the lim ke (cannllh! ht. 19031) NEW CONSTRUCTION. NEW YORK, January 20.—Public works and utilities have taken the lead in new construction volume since the first of the year in the 37 States east of the Rocky Mountains, F. W. Dodge Corporation, report. Awards for this type of construction aggregated $72, 975,700 during the period from Janue ary 1 to 23. Non-residential building followed, with $57,343,600, and new residential construction totaled $39,- 704,400. The total awards for all typec for the period shows an averages of $8,948,600 per business day, com= pared with a daily rate of $9,593,600 for December, and $12,460,600 in Jan- uary llst yeal Shoreham Building For the Discriminating %E AS selective of your business ad- dress as you are of your home address. Location, environment mean much to your home. And of no less im- portance is your office. The Shoreham Build- mg offers ALL that is to be ‘desired in location, character, facilities, neighbors—it’s the best as well as the newest of the National Capital’s business “homes”—and has attracted a clientele whose company you'll enjoy, while you benefit by the many unusual fea- tures of ,service—con- sistently carried out. There is prestige to tenancy in the Shore« ham Building. rooms or spacious suites are available. Inspection at your convenience. Representative of the Owners SHOREHAM INVESTMENT COMPANY Rental Office, Room 520 1Sthat H . National 5643 \ Single SOME STOCKS T00 LOW IN° WARBURG’S OPINION ‘Special Dispatch to The Star. o iz i e i i fg.- =% 2 g H # s First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Maryland and Virginia for 3, 5 or 10 year terms on your 514,07 s, RaNDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESPONDENT New York Life Insurance Company 1321 Connecticut Ave. Decatur 3600 Home ‘Apertment PROPERTY MANAGEMENT Apartment House MANAGEMENT CI)E’RHAPS you don’t realize the many points where our management, with its wide and varied experience, can effect savings in your apart. ment house operations, in creasing your income and at the same time improving your property. Let us make a survey to illustrate. B. F. SAUL CO: 925 15th St. N.W. Nat’l 2100 MORTGAGE LOANS Emcome Share in Control and Management increase capital, No debts. management and control of finances offered. Address Box 175-K, Star Office redMrens W‘mmfiw The Sturgis True Posture Chair ih Tlu Pcrhcl Chair for Desk to able to any one’s form in 30 Spanish Brown' feather over curied bair Price, 319.50 Have Us Send You One on Approval? STOCK FISKE &.A'fl lfumu-p-c We Want Your Business! We specialize in, and will furnish complete details regarding D1vERSIFIED TRUSTEE SHARES swicc G. W. PRATT & COMPANY Hioh-Grade Investments Tower Building Geo. W. Prate Chas, W, Warden Phone: National 6061 .« . the RAINBOW! During a downpour that had drenched the countryside for several days, some one asked an old farmer if he believed the rain would never stop. . . . Hitching up his shoulder straps, the farmer replied, “Well, sir, up to now it always has.” Here is a most apt illustration of the law of probabilities~which applies to the securities markets no less than to the weather. The best answer to the question of whether stock prices will ever return to their normal levels is that they “always have.” Certainly the law of probabilities justifies the belief that the present is a time of unusual opportunity. The investor may take advantage of this opportunity through a single invest- ment in Diversified Trustee Shares, Series C, which provides a participating interest in the common stocks of the 5o leading corpora- tions listed to the left. Your local Bank or Investment Dealer will Union Pacific R.R. Co. give you complete details upon request, or, if you prefer, write to American Trustee Share — Corperation, 59 Wall Street, New Yirk City. Diversified Tfusteé Shares DivERSIFIED TRUSTEE SHARES Serion C WW INCORPORATED NER & CO. Metropolitan 3860