Evening Star Newspaper, June 6, 1931, Page 13

YIELDS COMPARED " ONLOCAL STOCKS Dividends Have Held Well Since Wall Street Drop Shook Up Securities. BY EDWARD C. STONE. Yields on securities, although only | one factor in sound investing, are gripping much more attention than they did two years ago, making the re- turns on local issues both timely and interesting. At present quotations around 36, Capital Traction ylelds 11.1 per cent. Norfolk & Washington Steamboat Co.. selling at 180, vields 7.46 per-cent. The yield on Potomas Power issues is also well up, the 6 per cent preferred at 113 yieldiig 5.27 and the 51, per cent prefeired, quoted around 110, giving a return of 4.95 per cent. Washington Gas Light stock at 116 vields 3.10 per cent. Washington Rail- | v & Electric common, which last sold at 425, gives a return of only 1.65 per cent, while the preferred stock of the same corporation, selling around 98'¢, means a yield of 5.05 per cent. While the yleld on railway common seems rather small, most of the present hold- ers of the stock paid very much less for it than the price at which it is now quoted. Consequently the advance in the stock gives them a far greater profit than does the dividend. Among the insurance stocks listed on the local Exchange, the highest yield is on Washington Consolidated Title Co. preferred7 per cent. It sells at 50. Columbia Title Insurance Co. stock yields 4.76 per cent, American Fire In- surance 4.20, Corcoran Fire Insurance 3.33, Firemen's Insurance Co. 4, Natfon- al Union Fire Insurance 3 and Real Es- tate Title Insurance Co. 6.25 per cent. Good Yields on Other Stocks. The yields on most of the local bank i stocks are naturally lower than on some ¢ other issues, although many of them vield well above 5 per cent. The high- est bank stock yield is now paid by the National Bank of Washington, while the most conservative return comes on National Savings & Trust Co. stock, which is selling at $448 a-share. Yields vary most in the miscellaneous stocks on the Exchange. The best yleld is paid by Real Estate Mortgage & Guaranty preferred—selling at 6!, and returning 12 per cent. Next comes Dis- trict National Securities preferred. Many others yield well over 7 per cent. On the other hand, the most conservative return in the miscellaneous list is on Emerson’s Bromo-Seltzer A, which pays 6 per cent flat, at $30 a share. During the long decline in Wall Street, local stocks have held up well. But some have recorded moderate de- clines, which, of course, was to be ex- pected. As they have sold off fraction- ally, or & point or so at a time, the yields have made proportionate moves up the scale. The complete list of | yields on local issues have made an almost remarkable record in maintain- ing their dividends since the 1929 Wall Street tumble. Federal Reserve Membership The decline in the membership of the Federal Reserve system shown in its official publication, is a normal result of changes that have been tak- ing place in the banking structure for several years, says the American Bankers' Journal. For the greater part it is the reflec- tion of a trend in banking as a whole and not an indication of a determina- tion on the part of banks to get along without the membership privileges. On March 25 there were 7.931 active member banks, 6.933 of which were nationals and 998 State banks. The loss n membership during March was 38 and the total loss during the first three months of the calendar year was 168 members. Suspension of banks is. of course, & factor in causing the decline, but there are others. In March there was a net loss of 17 members through suspen- sions; & loss of 7 through voluntary withdrawals and the merger and con- solidation movement accounted for the | remainder. Why Customers Quit. From an interesting article printed n a trade journal entitled “Why Cus- tomers Quit” the following reasons were | deducted: . Indifference of salespeople..... 9% | . Haughtiness of salespeople..... 7% Over-insistence of salespeople.. 6% . Misrepresentation of goods % 5. Ignorance of merchandise . Delays in service. . Tricky mi . Attempted subs 5 . Reluctance to exchange g . Overcharging . . Poor arrangement or appear- ance of store ......ceeeees 6% Sees General Improvement. ‘William Montgomery, for the past 38 {psrs president of the Acacia Mutual | ife Association, has just completed a | study of the lapsation record of the | country since January, and from the result, feels sure that business in Wash- | ington as well as all over the country, | is on the uptrend. For several months | the lapsation record has shown improve- | ment _while new life insurance has re- | vealed substantial gains. The Acacia | official considers both these indices are having a very vital bearing on the whole economic sifuation. | During the month of May the com- pany's production was greater than for | any other month so far this year,| President Montgomery reports. This | fact is of interest since the company | maintains branch offices all over the | United States. | Gleaned In Financial District. ‘The directors of the Bank of Com- meice & Savings have declared the | Tegular semi-annual dividend of 5 per cent payable on July 1 to stockholders of record June 20, | Secretary Mellon announces that the ; total amount of subscriptions for the 8's per cent Treasury bond issue was $6,315.524:500. The issue was for only 800,000,000 so that allotments have ad to be much reduced. B. & 0. PLANS CLOSER CO-ORDINATION OF LINES | By the Assoctated Press. ‘The Baltimore & Ohio Railroad Co. Goday moved to bring about closer co- prdination of its lines by applying to, the Interstate Commerce Commission gor permission to operate the Buf- gln. Rochester & Pittsburgh and the uffalo & Susquehanna Railroads. The parent company owns 99 per cent of the capital stcck of the two roads. Two applications were filed. One asked permission for the Buffalo, | Rochester & Pittsburgh to operale the | Busquehanna and the other asked that | the Baltimore & Ohio be permitted to operate the Buffalo, Rochester & Pitts- | purgh, including the Susquehanna. "The applicaiions were understood by wail officials here to be & part of the Baltimore & Ohio's plan to bring about eonsolidation of its lines. | The two toads were allocated to the Baltimore & Ohlo in the Commerce | Commission’s consolidation plan. BUSINESS FAILURES, By the Associated Press | There was a slight increase in bus-| iness failures last week as their change was measured by the Commerce De- artment. In the averages that fol- ow, the level is given for comparable jods, based on representing the 1923- 120.7 WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Note—All stock are sold In one hundred excepting those designated 5% 8l 23 157% 45% 195 19% 23 39% 1t 9% Abitibl Pow & Abftibi P & P pf ( 15 - Adams Express (1). 1% % Allled Ch & Dye (né) Allis Chalmbers (2). Amerada Corp (2) Am Bank Note (11). Am Rrown Bov Eleo. AmBrBEDf (7). AmCan (16)..... (t Am & For Pw pf (8). Am & For Pow 24 nf. Am Haw St'ship (1), Am Hide & Leath pf. Am Homa Pr (4.20). Am Tnternational Am Meh & Fav 1 Am Mach & Met Am Nat Gas pf. 4 Am Pow & Lt (21),, Am Pa&Std San 60c.. Am Toliine Mills. .. Am Safetv Razar (5) Am Sm & Ref (4) ... Am St1 Foundries(1) by the let ‘were sold Am Surar Ref pf (7) 130 Am Tel & Tel (9). Am Water Wks (3).. Am Wat Wks efs (3) Am Wat W 1st pf (6) Am Woolen. Am Woolen pf Am Zinc Lead & Sm.. Anaconda Cop (1% ).. Anaconda W & C (1) Anchor Cap (2 40)... Archer-Dan pf (7). . Armour of Del of (7) Armour of 111 A Atlantic Refining (1) Atlas Powder (4)... Atias Powder pf (6). Auburn Anto (f4) dwin Locomotl Bendix Aviation (1). Rest & Co (2 E e Bethlehem Steel (4). 4 Bethlehem St pf (7). Blaw-Knox (1%4).... Bohn Alum & Br13%. Bon Ami (A) (4).... Borden Co (k3)....0 Borg. Warner (1).... Lriges Mg (11%)... Rrockway Mot Trk. . Bklyn-Man Tr (4) Bkiyn & Queens BKIyn & Qu T pf (5). Budd (E G) Mfg Budd Wheel (1) Rullard Co Bulova Watch Burroughs A M $1%. Bush Terminal (234) Bush Term deb (7).. i Butte Copyer & Zine, Rv A M) Canada Drv G A Canadian Pacific 1% . Cannon Mills (1.60) - Case (J 1) (§) e Caterpillar Trac (3) Celotex vtc ctfs. Cheeker Cab Mfg. Ches & Ohlo (2%) Chesapeake Corp (3) Chi Great Western. . %« Chl Great West pf Chi MII St P& P pf.. Chi & Northwest (4) Chi RT & Pac(m2%) Childs Co (2.40)..... Chrysler Corp (1) Cluett-Peabody (3) Coca-Cola (17%). Colgate-Pal-P (2%). Colonial Beacon Colo Fuel & Iron Col Gas & El (2) Col Gas & Fl pf A Columbia Graph 66e. Columb Carbon (5). Comel Credit (2).... Comcl Cred f (1%).100 Comm Inv Trust (2). Comcl 1T v pf (e6). % Comm Solvents (1).. Comwlth&Sou (40¢). Cmwlth & Sou pf (8) Congoleum-Nairn. .. Consol Cigars (5)... Consol Cig pr pf 6% . Consolidated Film. .. Consol Film pt (2).. Consol Gas N Y (4).. Con Gas of NY pf(5) Container Corp (A).. Contl Baking A..... Cont] Baking B. Contl Can (2% ) Contl Insur (2.4 i Contl Motors Contl Ol1 of Del. . Cont Shares. . Corn Prod (t3%4). Corn Prod pf (7). Coty Inc. Crex Carpe! Crueible St. Cudahy Packing (4). Curtis Publish (4)... Curtiss Wright Corp Curtiss Wr Corp A . 9% tmvison Chemical. .. 10735 Drlaware & Hud (9). 11% Denver & RG W pf.. Detrolt Edison (8)... Devoe & Ray (1.20) Diamond Match Dome Mines (1) Drug Corp (4)...... Dupont de Nem (4).. Du P de N deb pf (6) tern Roll Mills. . Eastman Kodak (18) 8% 61y 71 118% Elec Pwr & Lt (1) Elec Pow & Lt pf () Elec Pow & Lt pf (7) Stor Bat (5). sng Public Sve (2). Eq Office BIAg (2%). RR. 28'% 27 1318 413 Falrbanks Co pt Federal Screw Wki Fed Wat Sv A (2.40). Firestone T& R (1).. | Nat Strs (3%) k Rubb @) Fourth Nat Invest. Fox Film A (4 15% Gen Asphalt (3) 174 Gen Baking (2). General Cable pf. G & EI A (e30c). Mills (3). (ien Motors (3 Gan Pt Ink (2%) 4 Gen Public Servic Gen Ry Signal pt (6) Gen Refractories 4) Gen Theater Equip.. Glllette Sat Rasor. ilistte Sat R « Gobel (Adolf) Gold D a% Gold Dust pf ( tioodrich (B #' Goodyear Tire&R (3) Goodyear 18t pf (7).. Gotham Silk Hoslery Graham-Palge...... Grand 81l Strs (h1) Grand Unlon..... rand Union pf (3) Granite City St (3) Grant (WT) (1).. Grt North pf (5) Grt Nor Ore (2) Grigsby Gruno: 1014 Gulf States St 4l Hann Dept Stores. 20s 8 2 12 n7 16 20 . 7 28 165 2 1 21 2 o P SRR CMNR S Hemu—Ns o) 108 2 11 109% k2 4% 254 W 126 44% 27 Harb Walk Ref (3).. 28 share lots ter 8 (30s) (2508), 5% 28 - ~Prev. 5713 1531 B8Y% 27 304 36'4 Stock and DI Household Fin pt (4) Houston O1l. 9 N0 Do BN N 8N Tllinois Central ( indust Rayon (4)..e Ingersoll Rand (4) Iniand Steel (2%) Inspiration Copper..J Insur'share of Deln. [ 10 Insur Shrs Md(40c).. 1 interb Rap Transit.. Int Rus Mach (né) B Int Carriers, Ltd 50c. Int Cement (4)...... Int Harvester (2% ). Int Hydro E1 A (82). Int Match pf (4) Int Nickel (80e). Int Nick Can pf (1 Int Paper & Pow C. inter Dept Strs ( Investors Equity . Jewel Tea (4 ). . 80% 40% Johns-Manville (3). 1¥ 12% K'mann Dept Strs (1) 24% 10% Kay: 31 29 27% 19 Kreuger& T (2 35 8% 9014 106% 60 16% 39% 54 69'% 131% 1% 42% 65% 30% 14% StJoseph Lead (1).. 62% 1% 634 44's Sears Rosbuck 32% .. 64 11% 109% 674 South Pacific (6). 65% 83 115% 8 11% 14% 25 18 56 4 B 36 Kresge (S8) Co 1.60. 0). 107 Kroger Groc&B: Lambert Co (. Leh Valley Coal. Leh Valley (2%) Lehman Corp (3)... Liggett & Myer (15). Lizg & Myers B (15) Loew's Inc (3) Loft Inc Lorillard (F) Co Lo McAnd & For McCrory Stor: Melntyre Por McKeesport T P 5% McKesson & Rob (1), Mack frucks (3)...s Macy (RH) & Co(n3). Magma Copi Man Elev m g Marine Mid (1.20)... Mathieson Alkall (3) Maytag Co 1st pf (6) May Dept Strs (2%). Mexican Seaboard. .. M1d Continent Petm Midland Steel (3). Minn Moline Pow. Mo Kan & Texas. . Missouri Pacific. ...y Missour Pac pf (5). Monsanto Ch W(1%) Montgomery Ward. . Motor W hel /Mullins Mfg. . . Mullins Mg pf (T). Murray Corp H & Hart (6).. YNH&HDL(T).e oranda Mines.....; Norf & West (112).. N N N N N N N % North Am Aviation.. 102 30'% 7 3% 6! 254 38 48% 116 [ 19% 1 6 28 28 424 964 183% 64 24% 12 24°% 388 9 16% 7 16 % 21 4 26 27 53 111 6 13% 164 24 8 25% 14% 31 30 Nor Am (b10% stk). 1 North Am Ed pf (6).. Northern Pacifie (5) Ohio Ol .avus Omnibus Corp. . Otls Elevator (2%). Otis Steel. ... Owens 111 Glass (2). Pacific Gas & Ei (2).. Pacific Lighting (3). Pacific Tel & Tel (7). Packard Motor (48¢c) Paramount-Pub 2% .. Pathe Exch: Patino Mines Peerless Motor Car.. Penick & Ford (1) Penney (J C) (2.40) Penn RR (4).1e.enee Peoples D S pf (6%). Peop Gas Ch (8).... Petrolm Cp of Am(1) Phil Read C& Loueem Phillips Petroleum. . Pierce Petroleum. Fitts Screw (1.40)... Porto Ric-Am To(2). P R Am Tob B. Prairie Pipe L Pressed Steel Ca Proct & Gamb (2. Pub SV NJ (3.40)... PubSVN Jpf(8)..m Pullman Corp (4 Punta Alegre Suga: Pure Oll. Pure O1l pf (3) Purity Bakeries (3). Radio Corp. Radio Corp . Rad ith-Orph Raybestos Man 2.60.. Remington-Rand. ... Reo Motor Car (40¢). Republic Steel...eee Republic Steel pf. Reynolds Metals (). Reynolds Tob B (3) . Richfield O1l. . Rio Grande Oil . Rossia Insur (220).. Roy Dtch (m1.3404). Safeway Stores (5)., » CET T P = R N LT T T St Louis & San Fran. St L-San Fran pf (6) St L Southwestern. ., St L Southwest pf... Seaboard Air Line. .. Second Nat Inv. Servel Inc. Shattuck F Shell Un O11 pf SImMmons Co..veeeu Sinclair Con O11 (1) e - . Rt South Ry (3). South Ry pf (5). H 8o~ Spalding 1st pf (7).« Sparks Withing (1) .. Stand O1l N Y (1.60). Starrett (LS) (12%). Sterling Sec A Stewart W. Stone & Webster (3). Studebaker (1.20) Sun Ol (11).. Superheater (2%) Svmineton A autosruph N Texas Corp (2). Texas G Sulphur ac Land Tr. Mfg (1.6 1 That Thatcher pf (3.60).4: 7 65 Third Avenu Third Nat In Thompson Starrett. . Thomp-Star pf (3%) o Water As ( Tide Wat As pf (8 Timken Det Ax (80¢) Timken Roller (3). Transamerica (1) Tri-Cont Corp..... 45% 281« Trico Products(23%). 7z g Union Carb & C 2.60. UnOil of Cal (2).... Un TankCar (1.60). 38% 20% Unit Alreraft. Unit Afreraft pf (3) D. C., SATURDAY, STOCKS ARE LOWER ON PROFIT-TAKING % | Week End Realizing Sales Cut Further Into Recent Gains. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, June 6.—Further profit taking came into the stock market to- day and reduced the net gains that had ‘been made between the low prices of ‘Tuesday and the top level of the recov- ery on Friday. United States Steel common, which had had s Tally of 1115 points during the week, was off 5 points from its best. Atchison’ was down 7 points after ral- lying 22 points, Union Pacjfic had & loss of 5 points after & 23-point gain, Amerjean Telephone & Telegraph erased about one-third of its rise of 17 points, and New York Central 5 points of a 12-point maximum gain. These changes were entirely within reason, inasmuch as the week's rally had been one of the sharpest of the year. Prices steadied up somewhat when the early selling had been completed, but the market was intensely dull, and its thinness in certain sections was a natural phase of this week end specu. lative lethargy. The conference today in England between the heads of the German and British governments and the manifesto that came simuitaneously from Berlin pleading for a reduction in reparations payments centered the attention of Wall Street on the foreign situation and had the effect of postpening market commitments until the results of the Anglo-German meeting and the reac- tion to the manifesto are available on Monday. It is obvious that both Ameri- can and foreign securities will be under the influence for some time of the efforts by Germany to obtain conces- sions on her reparations payments. The market for German dollar bonds today was stead Breculllv- movements during the session that attracted attention were those in Auburn Auto, which advanced 5 points and then declined 9; in Du Pont, which lost 2 points; and in J. T. Case with an early advance of 11, points and then a decline well below Friday's closing. There was heaviness | in Johns-Manville below 50, in west- inghouse Electric and in American Can. RECORD PROSPERITY PERIOD IS FORECAST Baldwin Locomotive Official Sees ' Trade Revival on Restoration of Confidence. By the Assoclated Press. PHILADELPHIA, June 6—-The| greatest period of prosperity the United States has ever enjoyed” was predicted vesterday by Samuel M. Vauclain, | chairman of the board of the Baldwin Locomotive Works, in addressing the | annual convention of the American | Railway Magazine Editors’ Association. | “Supposed politicians, and they are | not even good politicians,” said Vauc- lain, “who are ranting up and down the length of the country with their | violent attacks, denouncing public utili- tles, denouncing all interests, including railroads and other industries in which people have their money invested, have helped to bring about a lack of confi- | dence. “The only way the world can be re- adjusted today is to regain the same | confidence in the future that Washing- ton and his handful of loyal troops must have shown at Valley Forge while wait- ing for Spring to come. “Our present stress has been brought about entirely by lack of confidence, the lack of confidence of citizens in each other and of industries in each other. and also by these supposed politicians.” Vauclain paid a tribute to W. W. Atterbury, president of the Pennsylvania Railroad, as a railroad executive and sald that Atterbury “has been immeas- ureably maligned by the Governor of this State, maligned to the very limit where a man could stand it with com- posure. Plane Order Placed. NEW YORK, June 6 (P).—Boeing lane Co. of Seattle, a subsidiary of | United Aircraft and Transport Corpo- ration. has recelved an order from the United States Navy- for 30 fighting planes, valued at $494.415. Along with a recent order for 135 pursuit planes | for the Army, the company's factory has a 1931 ‘military production pro- gram of 165 complete airplanes, plus spare parts. The two military contracts | have a total value of $2,035,781 Money to Loan Secared by first deed Frevaliing Interest and” Joseph I. Weller First Mortgage Loans Lowest Rates of Interest and Commission | Thomas J. Fisher & Company, Inc.! “The COMMERCIAL | NATIONAL BANK 14th and G Strects Banking in All of Its Phases LR S AT CONSTANTLY AT WORK AT FIXED WAGES You can view your money invested in our 6% FIRST MORTGAGES as being continually employed—at liberal interest of definitely fixed Over a Third of a Century © Without a « amount—c mortgage. May be purchased in amounts from $250 F. SAUL: GO National 2100 |in steel production is the slackening | amounts to 21,000 tons. of investment to the maturity of the JUNE 6, 1931. STILL IN'DECLINE! Trade Journal Notes Wave of Pessimism Caused by Drop in Stocks. By the Associated Press. NEW YORK, June 6.—Seasonal in- fluences and a fresh wave of pessimism, engendered by the performance of the securities markets, are having their effect on iron and steel demand, Iron Age says in its weekly review of the industry. “The fact that production is still des clining is not surprising,” the review says, “the impressive feature of the current situation in the steel industry 's that the recession in output is so gradual. Apparently there is little remaining margin between current consumption {and rock bottom requirements, and meanwhile, exaggerated caution is re- sulting in the piling up of deferred | needs which, when released, should |trend to make the eventual upturn in | demand more pronounced. Average Prices. “While the attitude of buyers is now mainly a reflection of Wall Street |gloom, it may later respond to what appears to be a definite change in the policy of sellers, Having become re- conciled to a low rate of operations, producers have abandoned hope of the | economies that come from volume and |are more determined in their efforts to STEEL PRODUCTION | ob! prices in keeping with costs. | inished steel prices, as measured by the Iron Age composite price, now | average 2.102 cents a pound, or only | $2.08 & ton above the low point reached in the last severe depression (1.998 | cents a pound on February 28, 1922). And if one takes into account the (amount of business taken in recent months that is represented by large construction projects, usually subject to | rather sharp concessions, it is nkely, that net average returns per ton are no r than they were nine years ago. | “Pig iron production in May showed & decline of 4}; per cent. While this was the first reduction in output since December, it was foreshadowed by the downturn’ of steel ingot production in April and the continued recession of steel works operations during the past month. Current ingot output is esti- | mated at 42 per cent, as compared with 44 per cent a week ago. Pittsburgh, Chicago, Cleveland and Buffalo opera- tions have given further ground, while there has been a moderate recovery in the valleys. In some instances lower production is accounted for by tardy lf‘!umptlom following holiday suspen- sions. Automotive Demand. “A prime cause of the present decline | of activity in the motor car industry. Automotive demand for steel this month is expected to show further curtailment, since retail sales of cars have been ad- versely affected by the recent stock market slump. The Chevrolet com- pany, which is credited with & produc- tion of close to 115,000 cars and trucks in May, is reported to have cut its edule to 82,000 units for June. Rail mill operations ccntinue to ta- per, now averaging 35 per cent at Chi- cago, and tin plate output has receded from 70 per cent to 65 per cent of ca- pacity. Plants making line pipe, struc- tural’ steel and reinforcing bars are making tl best showings. In fact, construction work promises to be the main support of the steel industry for some t! to come.” Structural steel awards total 82,500 tons, placing the past week among the best of the year, compared with 20,000 tons in the previous week and 16,000 | tons two weeks ago. New mquxry} Makers of hot-rolled strip have _— DRAW A CIRCLE AROUND GOOD BUSINESS C\ DRAW a circle v around the richest business area in Washington and you’ll find the Woodward Building at its center. If you're paying as much as $40 a month for rent now, it would pay you to see the at- tractive suites—IJarge, modernly convenienced rooms that will house your business better in The WooDWARD BUILDING Fifteenth and H Streets N.W. CARLG.ROSINSKI Realtor Leasing Represen v Suite 5 Phone Nat. 8040 MO Ry TG ANGIENS hangeless from the day up. 925 15th St. N.'W. FINANCIAL opened their books for the third quar- ter at 1.55 cents and 1.65 cents, Pitts- burgh, an- advance of $1 a ton. Pig iron production in May was 1,. 994,082 tons, or 64,325 tons a day, compared with 2,019,529 tons, or 67,31’ tons daily, in April. Steel Pipe Change. A change in the discount structure on steel pipe has lowered the Iron Age finished steel composite price to 2.102 cents a pound, from 2.114 cents. The steel scrap composite has declined to $9.67 a gross ton from $9.75, the seventh declire in eight weeks. The pig iron composite price s unchanged at $15.63 a gross ton. —_— BEAR MARKETS OFTEN DISAPPEAR RAPIDLY ‘The American Institute of Finance, Boston, says: “We have reached & stage where consideration should be given to the normal turn from a bear to a bull market and the historical characteris- tics of the early phases of bull markets. “The general attitude is that there will be plenty of opportunity to buy after it is apparent that both the stock market and the business trend have definitely turned upward. “A consideration of past bull mar- kets, however, does not indicate that this will be so. “A chart of the movements in 12 bull markets, beginning with that of 1879, shows that on the average 25 per cent of the entire bull market is covered in the first three to four months following the end of the bear market. “This evidence covering a period of 52 years indicates that it is not pos- sible to await complete evidence of a definite up trend in business and buy ! securities close to their low levels of the bear market.” Bogota, Colombia, will hold an indus- trial exposition in August. Regular Delivery Over 100,000 families read The Star ever day. The great ma- jority have the paper delivered Tegularly every evening and Sun- day morning at & cost of 1% cents daily and 5 cents Sunday. If you are not taking advan- tage of this regular service at this low rate, telephone National 5000 now and service will start tomorrow. @he Foening Star | Corner Automobile Showroom and Garage 14th St. Very Reasonable #0 Immediate Purchases, This is one of the maosf desirab ries of S B ohrent. 1 doeny shington. ft. on 14th St 105 fr, Three floors,. with first floor showroom. Ge rage space for approxi- mately 200 ears. Owner anxious to sell at onca Reasonable terms. This is an outstanding opportunity, For Particulars Call H. L. RUST COMPANY 1001 15th Bt. National 5100 SECOND TRUST MONEY AVAILABLE For purchase of notes desirably secured on owner occupied prop- erty in District of Co- lumbia and nearby Maryland. Prompt Attention Given Applications. Nat’l Mortg. & Inv. Corp. 1004 Vt. Ave. Nat.5833 ADVERTISENENTS Rivc orfll [ RECEIVED HERE Look to a Star Classified Ad to get what you want. If it is to be had, a properly classified ad in The Star will bring your want to the attention of those who can supply it. Leave the copy for The Star Classified Section at any of the following Branch Offices if it isnt convenient to come downtown. Northwest 11th and Park rd.—Arm- strong’s Pharmacy. 14th and P sts.—Day's Pharmacy. 1135 14th_st. — Marty'’s Cigar & Magazine Store. 17th and Que sts.—Ken- ner’s Pharmacy. 15th and U sts.—G. Brock. 2901 Georgia ave.— Har- vard Drug Store. 2912 14th st.—Colliflower Art & Gift Co. 3401 14th st.—Bronaugh’s Pharmacy. 14th and Buchanan sts.— Hohberger's Pharmacy. 14th st. and Colorado ave. —O’Donnell's Pharmac; 3209 Mount Pleasant st.— Mount Pleasant Cigar and News Shop. 1773 Columbia rd.—The Billy Shop. 2162 California st.—Co- lodny Brothers. Wardman Park Pharmacy, N.Y, N. J. aves. and M st. —Sanitary Pharmacy. 1st and K sts.—Duncan’s Pharmacy. 7th and K sts.—Golden- berg’s (time clerk’s desk). 7th and O sts.—Lincoln Drug Store. 7th st. and R. L ave.—J. French Simpson. 11th and M sts—L. H. Forster’s Pharma 9th and U sts—M. H. Hunton’s Pharmacy. Ga. ave, and Upshur st.— Petworth Pharmacy. 221 Upshur st.—Monck’s Pharmacy. 5916 Ga. ave.—Brightwood Pharmacy. Ga. ave. a Kennedy st. —Lampkin’s Pharmacy. 2901 Sherman ave.—Sher- man Ave. Pharmacy. 6224 3rd st.— Stewart’s Pharmacy. 1905 Mass. ave.— Dupont Pharmacy. 18th and Fla. ave.—Bern- stein's Drug Store. Fla. ave. and 1st st—N. Reiskin. North Capitol st. and R. I ave. — Parker’s Phar- macy. 1742 Pa. ave.—J. Louis rick. st and G sts.—Quigley’s Pharmacy. 25th st. and Pa. ave.— Herbst's Pharmacy. 3315 Conn. ave.— Joll's Newsstand. 0. 5500 Conn. ave. —Circle Con- fectionery Store. ‘Wisconsin ave. Wisconsin ave. — Morgan Bros’ Phar- macy. Takoma Park, 359 Cedar st. —Mattingly Bros’ Phar- macy. Georgetown 30th and P sts.—Morgan Bros.’ Pharmacy. 30th and M sts.—Brace's Pharmacy. 3411 M. st. — Moskey’s Pharmacy. 2072 Wisconsin ave.— Haney’s. Wisconsin ave. and O st.— Donahue’s Pharmaey. 85th and O sts.—Sugars Drug Store. 5104 Conduif rd.—Modern Drug Store. Northeast 208 Mass. ave.— Capitol Towers Pharmacy. 4th and H sts.— Home Drug Store. 907 H st—Garren’s Music Store. 12th and Md. ave.—Luck- ett’s Pharmacy. 7th and Md. ave.—Louls F. Bradley. North Capitol and Eye— Kenealy’s Pharmacy. 20th and R. L ave.—Col- lins’ Pharmacy, Wood- ridge. 3500 12th st.—Brookland Pharmacy, Brookland. 4th and R. I. ave.—John G. Biggs’ Pharmacy. Chesapeake Junction—Dr. F. L. Wight, jr. Southwest 10th st. and Va. ave.— Herbert's Pharmacy. 316 414 st.—Harris’ Drug Store. 4% and L sts.—Columbia Pharmacy. Southeast 3rd and Pa. ave.—0'Don- nell's Drug Store, 8th and Eye sts.—F. P. Weller’'s Pharmacy. 11th and Pa. ave, —Fealy’ Pharmacy. 1907 Nichols ave., Anacostia — Healy’s Drug Store. 13th and East Capitol sts. — Lincoln Park Pharmacy. 2204 Minnesota ave. — Sloan’s Drug Store; F. 8, Boisfeuil- There's One Near You