Evening Star Newspaper, April 1, 1931, Page 13

First Two Menths of - This Year Show $73,448 Increase. BY EDWARD C. STONE. Net earnings of the Washington Gas Light Co, for February, as reported to the Public Utilities Commission, show a falling off, compared with the same month a year ago, but the first two months of the present year reveal a gain in comparison with the corre- sponding period a year ago. According to the February statement, net earnings for the month totaled $114,195.49, against net earnings for February, 1930, of $148,371.09. For the first two months of 1931 net earnirgs were $288,242.97, compared with $214,- 794.18 & year ago, an increase of $73,~ 448.79. The Georgetown Gas Light Co. has also filed its February statement with the Public Utilities Commission, net corporate income for the month being $12,698.70, as compared with $25,435.85 in February, 1930. During the first two months of 1931 net income reached $20,869.80, compared with $46,134.65 in the same period & year ago. Southern's Assets Slightly Lower. “The Southern Railway Co. has issued $ts pamphlet report for year ended De- Somber 31, 193b, | Total assets on De- cember 31'last, were $681,354,873, com- paring with $693,208,908 at end of 1929, and profit and loss surplus of $10§.891,- 069, against $116,395,011. Current as- sets were $43,022,610 and current lia- bilities $18,920,810, as compared with $54,017,893 and 821,613,255, respective- 1y, at close of previous year. ‘Income account, which has already been published, shows net income of $9,126,512 after taxes and charges, equivalent after 5 per cent preferred dividends to $4.72 a share on 1,298,200 shares of commion stock. This com- pares with $18,128,787 or $11.65 a share ©on_common stock in Surplus account follows: _Profit and loss surplus December 31, 1929, $116,- 395,011; deduct: Defictt for year 1930 after dividends ,84,259,088; reserve for dividends payable in 1931, $4,738,430; equipment and_property retired, $1,- 331.474; miscellaneous ~ debits (net), $174,950; leaving profit and loss sur- plus’ December 31, 1930, $105,891,069. Pennsy Covers Devidend Needs. The Pennsylvania Railroad Co. mldfl public today its eighthy-fourth annu Teport, covering operations for the mr 1930. The repon shows that although the company's total operating revenue in 1930 declined over SU? 000,000, it earned a net income sufficient to pay an 8 per cent dividend and all other charges, leaving a surplus of almost $11,500,000 to '.he credit of profit and loss. Net income amounting to $68.- 809,818 was equivalent to 10.55 per cent upon the outstanding capital stock at the close of the year, as compared with 17.64 per cent upon the amount out- standing at the close of 1929. Net in come per share (par $50) was $5:28, compared with $8.82 in 1929. Interest Rate Cut in Effect. Local banks were notifying their cus- tomers today of the reduction of the rate of interest to be paid on demand deposits, the amount of the reduction being one-half of 1 per cent, following the action teken by the Washington Clearing House Association. In regard to this reduction, Chairman H. H. Mc- Kee of the Clearing House Association made the following statement late yes- terday: “The Washington, D. C. Clearing House Association adopted a resolution March 31, 1931, binding all members and associate members to reduce on April 1, 1931, the rate of interest paid by them on demand deposits one-half of 1 per cent, and thereafter the rate of interest paid by themy-on demand de- posits shall not be greatas thfn the re- duced rate. This rule does not affect the rate ofgblut paid on time or sav- fi:wer interest rates have become the order of the day among banks all over the country. With call money in New York remaining at 13 per cent and other rates being correspondingly low, the banks have been forced to take no- tice o‘ the situation. The majority of ks'have been paying 2 per cent on checking accounts which were main- tained above s stated figure. Leading bankers feel that such a rate cannot be continued in the- it money market. It is important to note that the action taken by the Washington Clearing House Association does not affect the rate of interest paid on time or savings deposits. Today's D. C, Exchange Session. Trading was quite active on the ‘Washington Stock Exchange today, the first transaction being in Washington Gas Light bonds, series B, at 105%. Potomac Electric 51, per cent pre- ferred came aqut at 110% and closed at 110 on & 21-share turnover. Railway & Electric preferred was again active in small lot sales, opening at 987 and closing with a -sale of 50 shares at 8% Pederal- -American National was the only bank stock out, 50 shares selling at 50. Carpel Corporation changed hands at 22’¢ and 22%. In the bond division Capital Traction 5s figured in & $1,000 transfer at 80. Nearly a score of local issues which have been quoted ex-dividend paid their dividends today. American Tele- phone, American Becurity & Trust Unjon Trust and Federal Storage pr ferred are the only issues now ex- dividend Financial District Comment. ‘The directors of the Liberty National Bank are to hold @ special meeting next Friday afternoon to take appropriate ection on the death of George O. Wal- s0m, the bank’s president. Although the Girectors have made no statement as to thelr plans, it is presumed in the finan- clal district that the vacancy will also be filled at the same meeting. Goodbody & Co. today took over the ‘Washington office and the organization ©f Harriss & Cq., located in the Southern Bailding. It is announced by the New York Stock Exchange house that Mc- Eiroy Moss will remain as manager of the office hore. The office of Harriss & Co was opened here about three ygam #g0, and was lly Hairiss & Vose ‘W. B. Hibbs, senior pl.rmer in W. B. Hibbs & Co., was back in the financial district today, after an extended trip to the Pacific Coast. Mr. Hibbs returned East in excellent health and reports & £ne tour. G. M. P. Murphy & Co. announce that Charles 8. Sargeant, until recently partner of Kidder, Peabody & Co., and a governor of the New York Stock Fxchange, has become a general partner of the firm. He is & director in a large ‘srd R. Williams, ir., also & former part- per in Kidder, Peabody, has also joined the Murphy firm. Tel. and Tel. Earnings Gaining. Earnings of American Telephone & Telegraph Co. for the T ended Marcn 31, 1931, while reflecting the smaller business done throughout mml! At the close of 193 there were 17,956,512 shares outstanding end earnings ror th- applied to this total amoun! 9.22 l chlre, ‘4:: tl improvement phone business, while others have shown further recession. G Nearly 162,000 houses were built in 8] Wngiand aud Wales 1ast year, - - . i “) 89% Publ! 118% lll\fi Curtis Publish Dl (1) 2% Curtiss Wi 48 Ao 8 sasem s d 88 NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. saies— Add 00. High. 4 10% 41 Abitibl Pow & Paper AbItibi P & P pf (6).. Adams Exp (1.60)... Adams Exp pf (5)...5108 Adams Millis (2).... Ady Rumley (new).. Ahumada Lead Alr Reduction (143 Alr Way Elec Appl.. Alaska Juneau (40¢) Albany Wrap Paper. Alleg Corp. Alleg Cp $3 Alleg Cp $40 ww 5% . Allfed Ch & Dye (n6) Allls Chalmers (3).. Alpha Port Cemt (1). Amal Leather, . Amerada Corp (2)... Am Bank Note (+3).. Am Br Shoe (2 40)... Am Brown Bov Elec. Am Can (15). . Am Car & Fdry (3) Am Chain (3) 4 Am Chicle (3).. Am Comel Aleohol. .. Am European Secur. Am & For Power. Am & For Pw pf (6).. Am'& For Pw pf (7). * Am & For Pow 2d pf. Am Hide & Leather Am Home Pr (4.20 2 6 Am Mach & Metals Am Metal Co. Am Nat Gas pf (1) Am News (13%). Am Pow & Lit (11)..% Am P & L pf A st (5) Am Rad & St $an (1) Am Rolling Mills Am Safety Razor (5) Am Snuff (433). Am Snuff pt (6)... Am Solv & Chem. Am Solv & Chem pf.. Am Steel Fdy (3). ... Am Steel Fdy pf ( ‘Am Stores (1234) Am Sugar Ref pf ( Am Sumatra Tob. . Am Te] & Pel (3) Am Tobaceo pf (6) Am er Wks (5).. Am Wat Wks cfs (3) Am Wat W 1st pf (6) Am Woolen . Am Woolen pf., : Am Zinc Lead & Sm.. Am Zinc & Lead pf. . Anaconda Cop (1%). Anaconda W & C (1). Anchor Cap (2.40)... Archer-Dan-M (2)... Armour of Il A Armour of Ill B Armour of 11 p! Asso Apparel (12 Asso Dry G (2%).... Atch To & 8 Fe (10). Atch T & S Fe of (5). At] Coast Line (10). Atl Gulf & W I pf (5) Atlantic Refining (1) 15 Atlas Powder (4)... 1 Atlas Stores (n1) Auburn Auto (f4). Austin Nichols. Austin Nich pr A (1)200- Aviation Corpof Dal 6 Baldwin Loco 1%). 8 Baldwin Loco pf (7) 100» Balto & Ohio (5). 19 Balto & Ohiopf (4).. 1 Bamberger pf (6%). 5008 Barnsdall (A) (1)... 18 Bayuk Cigar (3).... 30s Bayuk Cig 15t pf (7) 40s Beatrice Cream (4).. & Beech-Nut Pkg (3).. 2 Bendix Aviation (1). 25 Best &Co (2)....... Bethlehem Steel (6). 113 Dethlehem St pf (T). 2 Blaw-Knox (13%) 3 Bohn Alum & Br 4 Borden Co (k3) 13 Borg, Warner ( 15 Boston & Maine (4) 1 Botany Con M (A). Briges Mfg (11%). Briggs & Strat (2)... Brockway Mot Trk. Bklyn-Man Tr (4)... Bklyn & Queens Bklyn Union Gas (5) Bruns-Balk-Col Bruns Ter & Ry 8. Bucyrus (1).. Bueyrus ov pf (2%). Budd Wheel (1) Bullard Co...... 4 Burroughs A M t1%. Bush Term deb (7) Butte Copper & Zin Batterick Co. Byers (A M). Calif Packing (4) - ARG E AL BB RO E A 2% Certain-teed Prod. ... 11 Certain-teed Prod pf. 12 Cheeker Cab Mfg.... 39% Ches & Ohio (2%). 40 Chesapeake Corp (3) % Chi & Alton. % Chi & Alton pf. 6% ChiGreat W, 19% ChiGreat West pf. 6% Chi Mil St P & Pac. .) 9% Chi Mil 5t P& P pf. 33 Chi & Northwest (4). 9% Chi Pneu Tool 23% Chi Pneu Tool pf. 47% Chi R 1 & Pacifie (5).. ChiR1& P vf (6) *25% Childs Co (2.40) 15% Chrysler Corp ( 35% City Ice&Fusl ( 77 City Ioe & F pt 2% City Store 18 Clark Equipment (2) 24% Cluett-Peabody (3) 14244 Cocoa-Cola (1734). 47 Colgate-Pal-P (2%4). 9 Collins & Afkman 21% Colo Fuel & Iron (1). §9 Colo & Sou 1st pt (4) 28% Col Gas & El (2).... 100% Col Gas & El pf A (6) 7% Col Graphoph (a%). 78% Columbian Carb (16) 184 Comcl Credit (2). 76% Comcl Cred 18t tl‘/i) 10(). 21% Comel Cred pf B (2). 308 25 Comm Inv Trust (2). % Comel inv Tr war. mm Solvents (1) Cmwith & Sou (60c 6% Congoleum-Nairn. 22 Congress Cigars (4). zbv. Consol Cigars (5)..u “onsolidated Ffim. lnx Consol Fllm pf (2).. 824 Consol Gas N ¥ (4) 101% Con Gas of NY pf(5) 14% Consol Laundries (1) €0 Contl Baking pf (3)., 47 ContiCan (2%),.... 10% Contl Dia Fibre (1) 41 Contl Insur (2.40). 2% Contl Motor 9 Contl Of) of 74 Cont Shares 76% Corn Prod ( 14% Crex Carpet. . 81 CrCork & Seal 4 Crown Zellerback 98 Crucible Steel 3% Curtiss Wr Cutier Hammer 4 9% 2 1164 % B 6 b (1) 1008 100 2N 8 By 5% ~Prev. 1931 High. Low. 23 157% 185% 21% T4 374 " 31% 29 11’% 13% Davison Chemical 188'5 Drlaware & Hud ( 74 Del Lacka & Wn ( Denver & RG W ot l'lln Detroit Edison (8) 4% 24% 8% 143% 6114 834 143% 18% 2% Bastman Kodak (18) Eaton Axle (160) iZlec Auto Lite (8).. Elec Boat. .. Elec Pwr & Lt (1) Elec Stor Bat (5). Endicott-John (5) Eng Pub Sv (2.40) Ea Office B1Ag (2 Erle R Erle RR 18 Eureka Vac Cleaner. Fed Wat Sv A (2.490). Federated Dept Strs. F1d Ph Fire In (2.60) Firest T& Rpf (8).. First Nat Strs (2%). Fisk Rubber........ Fisk Rubber 18t pf. . Fisk Rub 1st pfev. Follansbee Bros Foster Wheeler (!) .. Fourth Nat Invest. . 2! 281 50% Gamewell Co (5). % Gardner Motor. 4% Gen Am Investors 80 Gen AmInv pf (6) 57% Gen Am Tank Car(4) 24% Gen Asphalt (3) .., General Baking Ct 61 Gen Bronze. .. 40% Gen Cable pf (7) 34 Gen Cigar (4). 41% Gen Elec (1.60). 11% Gen Elec spec (60c). 47% Gen Food Corp (3).. 4'% Gen G & El A (e30c). Gen G & Elev pf (8). Gen Mills (3). “ Gen Mills pt (6 Gen Motors (3). Gen Motors pf (. Gen Outdoor Adv. Gen Pub Sv b6% & Gen Ry Signal (5) Gen Realty & Util. .. Gen R & Ut pf (e6).. Gen Refractories (4) Gen Theater Equip. . Gillette Saf Rasor. .. Gillette Saf R pf (5). Gimbel Bros. Glidden Co. Glidden pr pf (T).... Gobel (Adolf).. . Gold Dust (2%)..... 4 Goodrich (R F). Goodrich B F pf (7). Gopdyear Tire&R(3) 3% Graham-Palge. . 15% Granby Consol (2).. 191 Grand 81l Strs (h1) 10% Grand Union 36 Grand Union 20 Granite City 8t (3). 25% Grant (W T) (1). 581 Grt North pf (5). 19% Grt Nor Ore (2) 8% Grt Western Sugar. 85% Grt West Sug of (7). 2% Grigsby Grunow.... 16% Gulf Mobile & North, 6% Hahn Dept Stores. .. 15% Hall (WF) Pr Co (2) 89% Hanna pf (7). Harb Walk Re 4 Hayes Body. Hercules Powd (3).. Hershey Choc (5) ... Hersh Choe of ¢t5). Hollander Sons. Holland Furn (+2 %) Houdallle Hershey.. Houston Of1. . Houston Ofl (new).. Howe Sound (3) . Hudson Motor (1) Hupp Motors. . Illinots Central (7). Tliinols Cent pf (6). Indian Motor Cyel Indian Refining. Indust Rayon (4).... Inland Steel (4) Inspiration Copper. . Insuranshar Del 40c. Interb Rap Transit., Int Agricultural.... Int Bus Mach (n6).. Int Carriers (37%¢). Int Cement (4)...... Int Combustion. .... Int Harvester (2%).. Int Hydro E1 A (e2). Int Match pf (4).... Int Mere Marine (2). Int Nickel (§0c) ‘Int Paper & Pow C, In!?lvll’pf M Int Salt (3), Int Shoe (3).... Int Tel & Tel (2). ..+ Inter Dept Strs (2).. Intertyps Corp (2).. 52% Johns-Manville (3).. 164 Kayser Julfus (2%). Kelly-Spring Tire... Kelvinator Corp. Kendall Co pf (6). 2214 Kennecott Cop (2).. 3% Kolster Radlo. . Kolster Radio.ctfs. . Kresge (8S) Co 1.60. Kreuger & T (21.60) . Kroger Groc&kBak (1) Leh Port Cmt pf ( Leh Valley Coal Valley (2%)...¢ man Corp (3). Lehn & Fink (3) Lizg & Myers B ( Lima Locomot (m2). Link Belt (2.40)..... Liquid Carbonic (3). Loew's Inc (3) Loft Inc. Loose-Wiies (12803 . Lorillard (F) Co.... Louisiana O1l. .. LouG&BA (1%).. Louis & Nash (7).... Ludlum Steel....... | McCrory Stores A (2) % Melntyre Pore M (1) McKeespt Tin P(16). McKesson & Rob (1) McKes&Rob pf(3%) 35% Mack Trucks (3). 83 Macy(R H)&Co(n3).. 32% Man Elev mod g (d5) 7% Manhat Shirt (1)...s 214 Maracaibo Ofl Exp.. 19% Marine Mid (1.20)... 28 Marlin-Rockwell (2) 5% Marmon Motor Car.. 2314 Marshall Field (2%) 231 Mathieson Alkali (2) 28% May Dept Strs (234)., 15% Maytag Co pf (3). 5% Mengel Co..... 10% Mexican Seaboard 7% Miami Copper, . H‘a Mid-Cont Pet (2). MStP&SSM, uu\ MS P &SEM )sd (4). Motor Products (2). 30!0' Wheel 1%)... ullins Mfg. Mullins Mfg pf 41).. Nat Bellas Hess pf. Nat Cash Register A, Nat Dairy (2.60) Dist Prod (2 Nevada Cop, tr(l).-' Newton St 07% N Y Central (6). 70 NYChli&StL (6) % ({3 110 N!Nflhllntfl (il (oontinued on Page M) dmielil . stock ana Sates— Dividend Rate. Add 00. High. O L LU IEE TR E T TSP - VIR SN~ SO O 3 S Boomtemmiimon » 2 o 8 i w0 = oo STl anncannoaneSan CrenlanEenornma » Sw e oRRaRen an 16 84 79 T9% 83 2 117T% 117 117% 117% STOCKS IRREGULA INDRAGEY MARKE New Lows Recorded by Some Issues, as Others Score Advances. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, April 1—Seldom has the stock market presented a more con- fusing plcture than it did today. Cer- tain issues and certain groups were subjected to relentless, persistent and effective pressure and new lows were scattered liberally over fhe entire list. This went on simultaneously with an astonishing display of resistance by other stocks. In the groups that were weak and in the groups that were strong were found representatives of the same industry. It looked as though professional operations for the decline were successful when concen- trated on a few sensitive stocks but as though the market as a whole was Working itself into an oversold posi- on. Steel Shares. During the early trading one of the | striking contrasts was the decline in United States Steel and the support for Bethlehem Steel. United States Steel dropped below 139 to within less than a point of the lowest of the year. Bethlehem Stee] held undisturbed and by noon was selling higher on the day. One explanation was that the shorts in Bethlehem were getting in each other's way. The stock was loaning at a pre- mium and there was not enough liqui- dation coming in from the outside to enable the sellers to cover at a profit, ‘Therefore the stock held while United States Steel was going down. Or take two such issues as J. I. Case and Auburn Auto, both of them favorite mediums for speculators fond of taking long chances. Case went down and Auburn went up. New lows were recorded in such a diverse list as Allied Chemical, United States In- dustrial Alcohol and Western Union. Meanwhile, McKeesport Tin Plate, ‘Woolworth, Servel and General Motors worked higher. More consistency was seen in the ac- tion of the rails and the oils. Both of these groups weakened in response to trade conditions that are well known and of long standing. The slight in- crease in car loadings revealed in the weekly statement did not help the rails. It began from too low a point and the decrease from the same period a year ago w great to change sentiment. Carrier stocks that sold lower than at any time previously this year in- cluded Illinois .Central, whose dividend situation is the subject of great doubt, and Southern Railway, demand for which seemed to come only from the shorts. New Haven was down 4 points at one time, Southern Pacific was off nearly three points, and Northern Pa- cific was weak. It was the same story in the ofl list. Barnsdall, Standard Oil of New Jersey and Standard of New York, made new lows and there was no effective support for any of them. Utilities fluctuated nervously but generally toward lower levels. New Lows Recorded. Dull trading. with sagging prices again characterized early_ operations. New lows. were recorded by a number of prominent issues, and there was persistent pressure on the rails, which did not seem to be helped by the in- crease in car loadings revealed in the weekly statements. The steel trade reviews also were no help to the steef 23 stocks. On the other hand, lig tion was in small volume, and motor shares were well supported. Among the new lows were those in Standard Oil of New Jersey and Stand- ard Oil of New York, Otis Elevator, United States Industrial Aleohol and Western Union. The rails that yielded included Southern Pacific, Northern Pacific and Baltimore & Ohio. Utilities were highly irregular, but the trend was downward. The best resistance was offered by consolidated Gas. United States Steel sold at the low of the present reaction, and Gen- eral Electric, Westinghouse and Allied Chemical s "~ CHICAGO DAIRY MARKET. CHICAGO, April 1 (#)—Butter, 5,677 tubs; unsettled, Creamery, extras (92 score), 27; Standards (90 score earlots), 271 ; extra firsts (90-91 score), 26l2a 26%; firsts (88-89 score), '25!5a26; seconds (86-87 score), 24,a25. Ezgn, 20,721 crates; firm; extra firsts, 20%; fresh graded firsts, 19%,; ordinary firsts, 18Y5; storage packed firsts, 2114 ; storage packed extras, 213 REAL ESTATE LOANS Made at Low Intevest Rates TYLER & RUTHERFORD Jfl-‘."" , ol l‘ "rfln nuo K5t AW, First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. REPORT OF THE CONDITION OF THE American Security & Trust Co. Of Washington, in the District of Columbia, at the close of business on March 25, 1931 ROES b $18,207,697.18 . 1,082:53 Ohited " Sates " Ggverhment securities owned i . Other bonds, stocks and se- ned . Banking houses, $1,382.854.1 furniture d " fixtures, 5239,503.6 ; Real estate banking houses . 3 . Cash and due from bamiks. . Outside checks and of cash ttems . Other assets Toted iiees 7.958,650.86 7,060,566.17 1,622,147.19 6.00 oW 121,89 5,401,366, BILITIES LIAB . Gapital stock paid in...... 33.400,000.00 1400 823,251.41 161,169.64 259,364.06 1, CHARLI OWE, above-named bank. do solemnly the above statement |s true to the best of my knowledge and bel CHARLES E. HOWE, Treasurer. Subscribed and sworn to before me thls oth das of March, 1831, (Seal.) ARKY G. MULLER, otary Public, D.'C. My commission. expires March 30, 1034, Correct—Attest James M. Green, C. A. Aspinwall, Gilbért, Grosvenor, Geo. W. Brow: Clarence F. Notment, J. Philip mrrm.nn, James F. She: Harry, Directors. Win. . Fiatner, . Charter No, 3625. Reserve District No. 5. REPORT OF THE CONDITION COLUMBIA NATIONAL BANK OF WASHINGTON In the District of Columbia. at the ci \of business on March Jotm iedt, 0 €% RESOURCES. . Loans and" discounts. -92,643,044.38 it 622,376.00 646,685.00 Liability count of acceptences execuua None . Banking house. $180,345.7; furniture and Kiztorcn; 39428 Sl . 219,174.45 i o . None e vnth Pederdl Resérve L8085 13,217.66 3 e’ from’ baniks . 3 Ouume :ne:k. and othe: cash item Redemption” fund with ', §. Freasurer and due from U. & Treasurer .. 4 . Acceptances’ of' Gtnér “ian and " bills of exchange or drafts sold with indorsement ank 12,500.00 . Other asset: Total ... 15,605,313.28 LIABILITIES. Gopital stock pald in. . Dhdivided * prafis:nei . Reserves lor dlvldendl $250,000.00 500,000.00 129,973.00 None pa . mnuuunx ing . Dile i B, inciiding o tiflea *and " cashi - sutstandi . Dema . Time . de : Gitted J”m. deposits. . Agreements to purchase U. 8. Covernment or other se: Girities” sold . Biils s xchange or a with“ndorsement i this bank o fur. nish_dollar exchange. . {b), Less acceptances of . Acceptances e s for account n( 8 dl'f'" b d. . Secdrities nrmwe . Other labilitles.. Total 15.603.313.28 oty of Washtiuioh, Disiiict of Solumbis, H ' LACEY, cashier of I abovenamed bank, 4o solemuly cwenr thas the above gistement 1a true (o the best of my knowiedse apd Dellsf. | o cadni 3 3 er. ribed i sworh tmn du-ox Rarer I s et ubllc, Messer, ‘Nolar GorrectAttest: e Harry Bl ank J. Btryker, jobn N’ Swatzell, Harry '8, Joseph H. Milans, George M. Directors. Charter No. 11633, REPORT OF P Reserve District No. 5. CONDITION Liberty National Bank of Washington, District of Columbia. At the close of business on March 25, 1931. RESOURCES. United_States Government securities owned. . Other bends, stocks, and securities owned. . . Banking house, $222,180.09; furniture and fix . Reserve with Federal Reserve Bank . Cash and due from banks... . . Other assets..... Total sesearasceanss $1,910,] ll'l 13 938, 433 13 608,057.30 231,935.52 220,491.26 567,711.87 1,552.16 + $4,478,392.72 i LIABILITIES. . Capital siock paid in . Surplus . Undivided proflts~net $500,000.00 250.000.00 83,240.43 . Mervcs for Ln'-!rest, bflxes and’ other expenses ‘accrued and 36,138.26 149,438.31 1,435,606.63 2,020,764.97 3,204.12 F. CALNAN, cashier of the above-named bank, do solemnly swear that the above statement is true to the best ol my knowledge and belief. [ Subscribed and sworn to before me (Seal.) igned.) F. CALNAN, Cashier, this 31st dly of March, 1931, EVERETT G. NASH, Notary Public, €O! mmm Organized 1879 51st YEAR JOHN JOY EDSON, President WALTEB 8. PRATT, Jr, Secretary Subscription for the 100th Issue of Stock Being Received We Make a Loan on Real Estate or to Take Up First Mortgage EMER{m"'e have money available if you desire. Yo" purchase a present _indebtedness or Applications receive pgompt home, refinance your improve your property. and courteous attention. Loans Repayable Monthly No Brokerage . . . No Commissions 915 F ST. N.W. We have an opening in our sales organization for a young man as securities salesman Crane, Parris & Company Investment Bankers 821 Fifteenth St. N.W. We take pleasure in announcing that Mr. Charles S. Sargent this day becomes a general partner in cur frm G. M.-P. MURPHY & CO. New Tork April 1, 1931 TN I First Mortgage Loan ThaeWonthAnyQucsdonofF ‘We have available mpl- funds for nm m matter how large an amount is ;:.mmumpmmm.m MMM Loans will be made on approved residential, apartment, office : %% cated in Dlsh’l:tl':rm’m Consultation Without Obligation. RANDALL H. HAGNER & COMPANY Noa Bk S Sriarance Gompany Decatur 3600 Maryland and Virginia—original loans or refinancing—for 3, 5 and 10 year terms—and at the favorable i rate of— 1321 Connecticut Ave. filmmmmmnmm I We Have Had Very Broad Experience in Negotiating Real Estate Loans, and Have Plenty of Available Funds FOR LOANS ON IMPROVED REAL ESTATE In Nearby Marylond, Virginia and the Dumct of Columbia - 514% For Periods of I,.S or 10 Years PROMPT DECISIONS GIVEN APPLICATIONS BOSSEHELPS Founded 1907 Hancoek Mubeal ELife Tasarance Co. 1417 K 8t National 9300 First Mortgage Notes —secured on conservatively ap- -praised properties in the District of Columbia and adjacent Mary- land Suburbs . . . Permit us to offer our facilities for the placing of your investment funds . . . Particulars of available notes mailed upon request. o H. L. Rust Company 1001 15th Street Nat'l. 8100 FIRST MORTGAGES THE SMALL INVESTORS can be safely governed by the course pursued by those with large incomes—and place their surplus in our 6% FIRST MORTGAGES It isn’t the rate of interest so much as the surety of its pay- ment and safety of principal which cotint—and First Mort- gages are favored by the wisest investors. May be purchased in amounts from $250 up. F. SAUL CO 925 15th St. N.) _.. | raere 15, NON§UBSTITUTE FOR SAFETY Over a Third of a Century Without & Loss s ationals 2108 4