Evening Star Newspaper, June 8, 1931, Page 13

{ ¢ DELEGATES T ALB. - ENIOY STOP HERE Eastern States’ Delegation ¢ Visits Various Places of Interest in Capital. BY EDWARD C. STO Sunday was a gala day for nearly 175 young bankers from five Eastern States | who visited Washington on their way to | the annual convention of the American | Institute of Banking in Pittsburgh. Ar- | riving at the Unicn Station early in the | morning, they were greeted by a big| delegation from Washington Chapter and taken on sightsceing trips, includ- Ing glances at all the Government build- ings, embas museums, shrines and other points of inter Late in th- afternoon they took part ving ath on the Tomb cf the known Soldier, after which they enjoved a dinner at the Shoreham | Hotel. They were entertained during | th~ evening, leaving here at 11 -o'clock | Pittsburgh on a special train. The 2 ngton delegation of 30 institute members took the same train At the convention two Washington delegates will participate in the pro- gram. Arthur J. Linn, controller of the Feceral-American National Bank & Trust Co., will conduct the audits and accounting conference tomorrow after- noon, Aubrey O. D v, new chapter president, will preside at the publicity conference to be held Wednesday morn- ing. Tomorrow noon Aubrey B C: he s office ment the leading Banks Stronger Than Ever. The banking position.has been very materially strengthened. Known liquida- tion of bank credits reportad by member banks of the Federal Reserve. including % Joans on stock exchange collateral and finance paper has amounted to over $0.000,000,000, asserts Trust Companies | Magazine. Unrecorded liquidation of diseased credit is doubtless much great- er. Aside from frozen real estate paper and other liabilities to be cleaned up in certain sections of the country, the banks are in a vastly stronger position than eve w < appall It is mor however, emphasize end with the sus. pension of 1.345 banks last vear, tying up deposits of $865.000,000, that the are 23285 banks with aggregate de- posits of 000,000 which were not | involved. They served their communi- tles with safety and efficiency In other words, 95 p°r cent of the banks of the country, representing 98 per centof combined _deposits, have en immune to the banking failure plague. This does not account for a| considerable number which have re- opened for business. Also we must bear in d that final liquidation of closed bank assets will reveal probably less than 10 per cent of actual loss to de- positors. Cooper Former C. & P. Man. Charles P. Cooper, New York, vice president and director of the American | Telephone & Telegraph Co.. who has just been elected a member of the board of trustees of the Mutual Life Insurance Co. of New York, is a former resident of vashington. While located here he was appointed general plant superin- tendent of the Chesapeake & Po ating vland, ment per came 8, to dir providing Gor compa elephone t bu torpedo necessar of war. E: appointed _gencral Cioveland Telept 20 he was man: of the e Co. and in Oc- tober of the same ar, became general manager of the Ohio Bell Telephone Co. with headquarters at Cleveland In September, 1921, Mr. Cooper was elected vice president and general man- ager, and a member of the board of di- rectors of that compa Two years later he was elected president of the Ohio Bell comp He was elected vice president of the American Tele- phone & Telegraph Co. in 1926. The Washington Stock Market opened | the week with derate trading and few price char The ope cs were in bonds, $400 and $600 Washington Gas Light s, geries A, moving at 1015 Washington Gas “B" bonds figured in smail sales at 105, Potomac came out and the bond m other sale in W at 10274 Potomac Electric Power 5!, per cent preferred moved at 110 and 110, while the corporation’s 6 per cent preferred came out at 2 ington Railway & Electric ed appeared on the board in a a le at 98! Lanston Monotype sold at 90 Capital Trac Electric Consolidated 55 in a $1,000 transfer at 105 ket closed with an- ington Gas “A" bonds ct, registering e stock was | bid and 36'; \ Belicves Bear Market Over. McNeel that the bear s the mental state th ated, which seems was However with 3513 munity unlikely He states, “Since the a bear market are a study Tather t finunce, it can be stat cfinitaly that probably it will be im- possible to duplicate in coming weel the pessimism amounting at ti almost to despair which has charact ized nt and speculativ commu e week preceding the early June The d cline in pric 5. of course, so ab- | mal as to raise doubts as to values ywhere, Shrinkage from the peak of | . in the a e price of ) was 68 | ot was S0 | lower levels of | n psychology | es | We have been of late going t phases of a bear m When prices are so high that no one can understand them, the bands pla optimistic music. but when they are s0 low that our great industrial plan are selling for the price of junk “Drums of Jeopardy’ roll. and investors Jose their faith in everything. “That is directly contrar financial ctice. P ism today seems to have about run its course in absurdity.” to sound Meard in Financial’ District. New York bank stocks, in which there 1< so much local interest on account of the extensive holdings here, register- ed a brisk rally last week compared with the previous week. . Sixteen of the Jeading stocks now vield 4.86 per cent against 5.02 in the previous week, Robert. C. Jones & Cn., local invest- ment house, is sending out a_circular which recalls the pessimism which has prevailed during other serious market depressions. Headlines from newspaper files are printed to show that the out- Jook was considered the worst just be- fore the turn came. The turn in the panic of 1907 is given particular at- tention. Final figures made public by the freasury Department show that sub- scriptions to its recent offering of $800,000,000 315 per cent bonds totaled $6,315,524,500. Of this amount, 106,500 represented exchange sub: tions in payment for which T certificates _maturing Ju 15 tendered. Such exchange subseriptions were allotied 57 per cent, or absut $326,000,000, FINANCIAL. THE. EVENING STAR. WASHINGTON, D.,C.. NEW, YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office, ote—AIl stock are sold In one hundred share lots excepting those designated by the letter s (80s) (250s), which shows those stocks were sold in odd lots. Prev 1931~ Stock and Saies— Prev. High. Low. Dividend Rate, Add 00. High. Low. Close. Close, 28 116 Adams Express (1) 8 181 128 134 13 % ' Ahumada Lead. 6 100% 70% Air Reduction (f4%4) 70 108, 33 Alr Wey Elec Appl.. 1 201 Alaska Juneau (40c) 423 125 Alleg Corp. .... 59'n Alleg Cp 330 ww 6% . 59 Alleg Cp 340 ww 5% . 5514 Allez Cp $20 xw 5% . 1828 Allied Ch & Dye (n6) 423 Allis Chalmbers (2). » Amerada Corp (2) Am Agri Ch of Del. . Am Ran¥ Note pt (3) Am Beet Sugar. .. Am Br Shoe (2.40) . Am Brown Bov Elec.. AmBrBEpf (7).. Am Can (15)..... Am Car & Fary (1), Am Chicle (13). Am European Se Am Express (6) Am & 5 Am & For Pw pf (T). . Am & For Pow 24 pf. Am lce (3).. . Am International Am Locomotive (1) ‘Am Locomot pf (7) Am Mch & Fdy 1.4 Am Metal Co.. Am News (13%). Am Pow & Lt ($1).. 4 Am Ta&Std San 60c. Am Republics. Am Roliing Mills. .. Am Shipbuilding (5) 10s Am Sm & Ref (4). 30 Am Stl Foundries(1) 1& Tel (9). bacco (16). Am Tobacco B (16) Am Water Wks (5).. Am Wat Wks cfs (3) Am Wat W 1st pf (6) Am Woolen. ... Am Woolen pf... Am Zine & Lead pt. . Anaconda Cop (1% ) Anchor Cap (2.40). Archer Daniels Mid. Armour of Del pt (1) Armour of TIL A. Armour of Tl Armour of Il pt Asso Apparel ($2). Asso Dry G (2%) Asso D G 18t pf (6) Atch To & S Fe (10). At Gulf & West Ind. At Gulf & W Ipf (5) Atlantic Refining (1) Auburn Anto (f4) Avlation Corp af D 4 9% Paldwin Locomotive 43'3 Balto & Ohlo (5). 47 Bang & Aroos (3%3) Rarnsdall (A) (1) Reatrice Cream (4 Bendix Aviation (1). Best & CO (2)....... Fethleham Steel (4). 206 Bethlehem St pf (7). R Blaw-Knox (1%).... 1 Bohn Alum & Br1%. 6 Borden Co (k3)...... 48 14'4 Borg. Warner (1) 14 Rle £ Mfg (11%)... 19 2 Rrockway Mot Trk. 537 Bkiyn-Man Tr (4). .. 85% Bklyn Man Tr pf (6) 5% 929 3 1% 2078 110% 213 60 147 8% 281y a7, 16 208 47 11 a2 Rkiyn & Qu T pf (5). Bklyn Union Gas (5) Bruns Ter & Ry S... Bucyrus (1 Pueyrns ey nf (%) - Rucyrus pf (7). Budd (EG) Mfg.... Budd (E G) Mg pf. Bullard Co. i Bulova Watch (1), Burroughs A M t1%. Bush Terminal (214) Butterick Co Calit Pa Callahan Calumet & Hecla. ‘amp W&C Fy (1) tanada Drv G A (3). anadian Pacific 13 . ‘ar Clin & O sta (5) . 5 Case (J 1) (6)...... Case (J 1) pf (7). Caterpillar T lotex Co pf. Cent Aguirre As 1%. Cheeker Cab Mfzg. Ches & Ohlo (2%) Chesapeake Corp (3) Chi Great Western. . i Great West pf... *hi Mil St P & Pac, Chi Ml St P& P pf. ) » Chickasha Cotton Ol 4 Childs Co (2.40). .. rysler Corp (1) o) wBulaluvanomruadn-Bovaanealan Colgate-Pal-P (2%4). Colg-Palm P pf (6).. Collins & Afkman... Colonial Beacon Colo Fuel & Iron. Col Gas & El (2).... Col Gas & EI pf A (6) Columbia Graph 56c. Col Grapho ctfs 36e Columb Carbon (3) Comel Credit (2). Comel Cred pf (1%). Comel Cred 15t (6%) Comm Iny Trust (2). Comm Solvents (1).. Comwlth&Sou (40¢) Cmwlth & Sou pf (6) Congoleum-Nairn. .. Congress Cigars (4). Consolidated Fil Consol Film pf (2).. Consol Gas N ¥ (4).. Con Gas of NY pf(5) Consol RR C pt (6) Consol Textil Container Corp (A) Container B. . Contl Baking A.. Contl Baking B..... Contl Baking pf (8) Contl Can (2%) Contl Insur (2.4 Contl Motors Cont] Oil of De! Cont Shares. . Corn Prod (13%). Coty Ine. ... Crown Zellerback Crucble Steel Cructble Steel pf (1) Cuba Cane Prod Cuban-Amer Sugar Cuban Am Sugar pf. Cugdahy Packing (4). Curtis Publish (4). .. Curtiss Wright Corp Cntler Hammer avison Chemical, Deere & Co pt (1.40). Drlaware & Hud (9). Tel Lacka & Wn (4). Detroit Edison (8).. Devoe & Ray (1.20) Diamond Match Dome Mines (1) Domn Stores (1.20) Drug Corp (4) Dupont de Nem (4) Durham Hosiery pf stern Roll M1 [ Bastman Kodak (1 Isaton Axle (1.60) I Il X E tington-SchiM. . hild pf ). tington. ec Auto L lec Boat. Elec Pwr & L Elec Pow & Lt pf Pow & Lt pt (7) Fairbanks M pf (7). 1108 Fashion PArk Aspf. 7 Federal Screw Wks. . Fed Wat Sv A (3.40). Fid Ph Fire In (2.60) Firestone T & R (1).. Firest T & R pf (6).. First Nat Strs (2%). Fisk Rubber Follansbee Bros. Foster Wheeler (2).. Fourth Nat Inves Fox Film A (4)...... Freeport-Texas (3).. 4'3 Gen Am Investors... 5 527y Gen Am Tank Car(4) 16 47 15% Gen Asphalt 3)a 26% 17! Gen Baking (3) ~Prev 1831 High. Low. 915 5 27% 36 1% 43 44 36 96 Bl e RO% 40 Stock and Dividend Rate. Gen Bronze......... General Cable p en Klec (1.60) Gen Elec spec (60c). Gen Focd Corp (3) Gen G & El A (e30c). Gen Mills (3) . Gen Mills pf (8 Gen Motors (3) Gen Motors pf (5)... Gen Outdoor Adv. Gen Public Service. . en Ry Signal (5) en Realty & Utll. ien Refractories (4) Gen Theater Equip.. Gillette Saf Ra: Gimbel Bro: Glidden C». Glldden pr pf (T)..ee Gobel (Adolf). Gold Dust (2%). Goodrich (B F) oodyear Tire&R(3) otham Silk Hosiery Graham-Paige. . . Granby Consol (2) rand 811 Strs (h1).. nd Unfon. ....... ranite City St (3).. srant (W T) (1) Cirt North pf (5) Grt Nor Ore (2)..... Girt Western Sugar.. Grigsby Grunow.... Gulf States Steel. ... Gulf St Stl st of (7) Hacken Wat pf A 1% Hann Dept Stores. .. Hahn Dpt St pf (6%) Hanna pt (7). Harb Walk Ref (2).. Hershey Choc (5)... Hollander Sons Holland Furn (42 Houdallle Hershey.. Houston Ofl. ... Houston Ofl (new).. G IHud 1llinois Central (4).. Indlan Refining Indust Rayon (4). reoll Rand (4),. Inland Stee Inspiration Interb Rap Transit.. Interlake Iron (80c). Int Agricultural.... Int Bus Mach (né). . Int Carriers, Ltd 50¢ Int Cement (4) Int C Int Comb Int Harvester (234). Int Harvester pf (1) int Hvdro E1 A (e2). per f (T). Int Pap & P pf (7) Int Tel & Tel (2) Johns-Manville (3). ot (1) 4 Kavser (J) & Co (1). 444 200 1% % 58 247 14% 143 13 i 94 1 - 94 119% 105 10 "6 15% 139 11 4% 90% 56% 106t 102 60% 20’ 19% 1 612 3% 584 31 39% 2505 2 i 54% 38 Gola 4xts 116 5l 217 Keisey-Hayes Wheel Kelvinator Corp Kresge (SS) C Kreuger & T (a er Groc&Bak (1) ley Coal. . Coal pf (3). sehman Corp (3).... Lehn & Fink (3).... .ib Ow Ford Glass. . gett & Myer (15). rbonie (3). Loew's Inc (3)eveene Loft Inc. . Loose-Wiles Lorlilard «I') Co LonG&EA (1% *ville & N'ville ( Al vre Pore M (1) ort TP 154 A & Rob /1) McKes&Rob pf(3%) A (6) ks (3).... H) & Co(n3) Marine Mid (1.2 Marmon Motor Car.. farshall Field (23%) iathieson Alkall (2) May Dept Strs (23%), May Maytag Co pf (3).%.. Maytag Co 1st pf (6) Melvill Mengel Mexica Miami C Mid Con Midlan Minn Mot Mo Kan & Texas Mo Kan & Tex pf (1) Missourt Pacific Monsanto Ch W-(1%) Montgomery Ward. . Motor Meter G & El. Motor Produets (2).. Mulling Mfg. .ovveae Mullins M£g p£.(7).. Murray Corp..h... sh Motors (4) . t Acme (80c). t Bella Hess. .\‘;\z Biscuit (2.80)... NAt Cash Register A, Nat Dairy (2.60) ... Nat Dist Prod (2).. Nat Lead (5).. at Pow & Lt (1). adiator. Nat Steel (2) Nat Tea (1). (evada Copper (1).. N O Tex & Mex (7).. Newton Steel Y Alr Brake ( Y Central (6).. \ Y N H & Hart (6) NYNH&Hpt (7) N Y Ont & Western. Noranda Mines. Norf & West (112).., North Am Aviatiol Nor Am (b10% stk). North Am Ed pt (6).. Northern Pacifio (5) Ohio Oil Omnibus Corp. Otis Elevator ( Owens 111 Glass (2). Pacific Coast 1st pf.. Pacific Gas & Bl (2).. Pacific Lighting (3). Pacific Tel & Tel (7). Tackard Motor (40c) Pan-Am Petrol B. 5 Panhandle P& R. 250 10 Paramount-Pub 2% Parmelee Transport. Patino Mines. Peerless Moto! Penick & Ford (1) Penney (J C) (2.40) Penn Dixfe Cement. Penn RR (4).. Peop Gas Ch (8) Fetrolm Cp of Am(1) I’helps Dodge (2)... Phiilips Petroleum. Picrce-Arrow pf (6). Pierce Ol pf. . Pierce Petroleum Pitts Unit Cp pf (7). Porto Ric-Am To(2), > Prairie Oil & G 104 [ 104 28 514 €654 27 12 60 314 24% 29% * 17% 30% 10 Real Silk Hos(b10 % Prairie Pipe L (3) Proct & Gamb (2.40) Prod & Refiners. Pub Sv N J (3.40 Pub Sv N J pf (5) Pub Sv N J'ptf (7) Pub Sv N J pt (8) Tub Sve G&R pf Pullman Cofp (4) ... Pure Ofl...... Pure Ol pf (8) Purity Bakeries Radio Corp. .. Radio Corp B (5). Raybestos Man 2.60 Add 00. 1 608 402 3 23 108 wualeleanass 5 408 138 a00 708 9 1 508 14 11 3 2 186 4 9 10s 16 12 3 1 37 17 136 12 6 72 10 208 4 25 285 1 2 11 5 1 408 2 5 108 58 1 1 11% Radio-Keith-Orph A, 107 1 Sales— Prev. . High. Low. Close. Close. 5% 2818 401 1% 4% 47 3718 9 1. (Continued on Page 151 1 5% 28 38 1% 60 76 9914 36% 1548 1 037% 323 5% 73 28 144 38 12% 187y 12 1874 12 6 2814 388 1% 46 an 38 32 31 2% 47 192 6% 13% 5% 5oy 91 1% 80" 13% £ 16% 62 2% 76 99% 136 155 10414 83 T4y 284 14% 38 12% 19% 13 MONDAY, JU RECOVERY IN STOCK MARKET RESUMES Brisk Upturn in Prices Oc- curs in Late Trading. Rails Improve. BY GEORGE T. HUGHES. Special Dispatch to The Star, NEW YORK, June 8.—Complete change from the soft and sluggish character of the early stock market took place in afternoon trading todey. Prices then were fairly buoyant and net advances were as numerous and &s large as were net losses before midday. The change in sentiment may have come from the clearing up of an acute banking situation in Chicago, which undoubtetly led to some of the liqui- dation on Saturday. It is also possible that the scantiness of the offerings; carly in the session, in spite of the extreme heaviness of the rail list at that time, was another of the evidences of completed liquidation which made their impression on Wall Street. During the first hour the five most active rallroad stocks showed an aver- age loss of 3% points, with the maxi- mum decline in New York Central on the possibility of another reduction in its dividend rate Wednesday. However, before the market closed New York Central had sold 1'; points above Sat- urday’s closing, and there were net gains in Pennsylvania and Atchison, with Union Pacific 3! points above its low. Unquestionably urday discouraged | stocks who had _found relief midweck rally. The market was also faced with perplexing situations such as that surrounding German repara- tions and by an unexpected develop- ment in the Chicago banking world, the decline on Sat- many holders but that has been satisfactorily ad- Justed. It i< not elear from the reports from the London conference how far Ger- many is likely to go in protecting her internal conditions. So long as her| affairs occupy the attention fixed on | them by the rest of the world today, it curities will have much anxiety and that this will be a depressing factor on the speculative markets abroad. { man bonds today were lower. The extreme weakness of rajlroad | stocks might have been connected with the fear t a second reduction in the dividend rate on N. Y. Central may of | in the| where a crisis arose over the week end, | 15 obvious that holders of German se- | other European securities as well as on | Ger- | NE 8. 193 AVERAGE STOCK YIELD REVEALS INCREASE Recent Decline in Market Boosted Return to 9.71 Per Cent June 1. Special Dispatch to The Star. ' NEW YORK, June 8—Drastic price | declines last month resulted in an a- | crease from 858 per cent to 9.71 per cent i the average yield on the 340 active cash dividend paying common stocks listed on the New York Stock Exehange, the monthly analysis by Moody's Investors Service reveals. The | 9.71 per cent yield as of June 1 com- pares with 8.08 per cent on 428 stocks | on November 13, 1929, and 9.50 per cent on 397 stocks at the middle of last December. The present yield differs but slighly | from the peak of 9.92 per cent on | August 24, 1921, the survey states. “Cur- rent stock yields may in fact be regarded as relatively higher. since the return on high grade bonds is much lower than | 10 years ago,” Moody's contends. “The prevailing high yvields exist de- spite an unprecedented number of dividend reductions. Since the begin- ning of the bear market over half of the | active cash dividends paying _stocks | have either reduced or passed their dividends. The great majority of divi- dend omissions represent elimination of | high individual yields, while reductions have naturally also tended to decrease average yields.” Paper. shoe and traction stocks formed the only individual groups showing de- creases in average yields during May, but the changes were relatively insig- nificant. Among the other 40 groups. all of which increased their average vields last month, unusual levels were attaind by such stable groups as cig- arette (7.68 per cent), dairy (7.51 per cent), electrical equipment (6.69 per cent) and insurance stocks (6.86 per cent) Bank stocks and electric light, power | and gas stocks constitute the only two large groups on which the average re- turn was below 6 per cent on June ENTERPRISE SERIAL EUILDING ASSOCIATION 7th and Indiana Ave. NW. LOANS ON IMPROVED DISTRICT OF COLUMBIA REAL ESTATE SECURITY 66th Series of Stock Now Open For Subscription . Connelly James F. Shea e ordered when the directars of the company meet Wednesday. In the March quarter the road did not cover | its fixed charges but has done some- what better in the last two months. | | However. it has not been able to earn | the required proportion of the present $6 dividend in the June quarter. A very | considggable amount ¢f the decline in| railroad stocks this year dates from the | announcement in March that Central’s rate had been cut from $8 to $6 a share Since then about a dozcn other carriers | have found it necessary either to omit dividends or pay them on a scale more in line with current carnings. Without much increase in the market took on a decidedly tone in the early afternoon recoverics were in the rails, Central advanced above Saturday's | closing. Prominent industrials like Westinghouse Eleetric. General Electric. American Can, Johns Manville, National | Dairy Products and Worthington Pump were all higher than at the end of the previous session, with net gains ranging from 1 to 3 points. Allied chemical ad- vanced United States Stee went e Saturda clo: volume. New York Motor stocks were stronger. h General Motors touching 3. Operations were chiefly for the profes- sional short account. Experiments are now being conducted which if successful will utilize the whole | cotton plant, except the roots, in the | | production of rayon. Cotton has a very high content of cellulose, the basic ma- terial of rayon. OFFICE BARGAINS! NOUGH to know you can rent here for $35.00 monthl A still bigger surprise to see the large, airy rooms—ice water and private lavatory in each —that you can have at this low rental in The WoODWARD B DING Fifteenth and H Streets N.W. CARLG.ROSINSKI Realtor Leasing Representative Suite 5 Phone Nat. 8040 AT]ONS CAPITAL \ SECURED°~HOMES First Mortgage Securities A Wonderful Investment With Absolute Safety- and Maximum Earning Power 6% Guaranty Pirst Mortgage Securi- {ies are sponsored and suaranteed by this “corporation becauss they are A sefe and sure method of i steady income and offer an attractive, unvarying yield of 6 per cent interest. Denominations as low as $100 ! Monthly Payments If Desired Send for Booklet, “The Success Plan” REALESTATE MORTGAGE & GUARANTY LOANS ON YOUR Secretary INTEREST Terms Favorable SAVINGS to You on For Purchasing or Re- Financing D. C. Prop- erty .. ..6%. Small monthly payments take care of interest and reduce principal. Open Daily 9 to § Saturdays Until Noon NAtional 1381 NATIONAL PERMANENT BUILDING ASSOCIATION 949 NINTH ST, NW. UNDER SUPERVISION OF U S TREASURY| First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Corner Automobile Showroom and Garage 14th St. Jery Reasonable to Immediate Purchaser This is aone of the most desirable properties of its kind in Washington. 75 ft. on 14th St., 105 ft. deep. Three floors, with large first floor showroom. Ga- rage space for approx mately 200 cars. Owner anxious to sell once, Reasonable terms. This is an outstanding opportunity. For Particulars Cail H. L. RUST COMPANY 1001 15th St. Natlonal 8100 Organized in 1814 National Metropolitan Bank 15th Street Opposite U. S. Treasury Divest Yourself of All Business Worries —when you go abroad, or else- where, this Summer. Appoint our Trust Dept. as your General Agent, Such an arrange- ment can be ter- minated, when de- “ sired, and insures experienced at- tention to your investments, prompt collection of income, pay- Interest Paid on CORPORATION © | 1610 K St. N.W. .' . ment of fixed charges, etc. Conference invited. Savings FINANCIAL. #%% A3 Money to Loan ured ‘r deed of trust on real estate i ngeph P and eommission. REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD Avplications invited o) - apariments and "und periice: larly on well lo ars, if so ed. for 3.°5 or 10 3 National 0478 Seer intel eller g% REAL ESTATE LOANS 5%% INTEREST L. & Trust & F NW. 1520 K St. N.W. AMERICAN TRUST SHARES Bond-like regularity of in- come, with the growth of principal potentialities of Common Stocks KNAPP & Co., INC. INVESTMENT SECURITIES Washington Office Shoreham Building Phone Metropolitan 1922 E have plenty funds for loans on im- proved Real Estate in nearby Montgomery County, Md., and the Dis- trict of Columbia for periods of 3, 5 or 10 vears. Prompt decisions given applications, BOSS and PHELPS Realtors FOUNDED 1907 17 K 8t NW. Loan Correspondent John Hancock Mutual Life Insurance Co. Please send complete information. Name .. o Address F things are not going as well in your property We Give Property Personal Attention investments as you would like, let us make a survey of conditions and find out the reason. As fanagers of your property — apartment house, business, office building or residence—we bring to the task long and ripe experience that in- sures the utmost in efficient conduct and income. Prompt remittances are the rule of this office RANDALL H.HAGNER & COMPANY MORTGAGE Loax CORREsPONDENT 1321 Connecticut Ave. Decatur 3600 0 00000 A IR £ B H £ H i - B e Pt k. &k EYE ST G b n— By " 3 Equitable Co-Operative Bldg. Ass'n ! Organized 1879 S1st YEAR COMPLETED JOHN JOY EDSON, President ~ WALTER S. PRATT, Jr., Secretary Subscripfion for the 101st Issue of Stock Being Received | DO You Desfre a Loan —on Real Estate or to Take Up First Mortgagc? HOSE desiring money to purchice a home, re- finance present indebtedness or improve property should consult us. Applications will receive prompt and courteous attention. Loans Repayable Monthly No Brokerage . .. No Commissions 915 F ST. N.W. e e e of a successful Real Estate Loan Plan is that the borrower must be absnlutely satisfied. Thousands of satisfied home- owners throughou( the United States are rccommending the Metropolitan Life Insurance Company Real Estate Loan Plan to their friends. Low Interest Rates Long Term No Life Insurance Required { Con_etruc!ion Loans in Any Amount . WERRERRS W ashington Building Mortgage Loan Corrcspondent Metropolitan Life Insurance Company Loans made In the District of Columbia and nearby Maryland and Virginia District 9436 MORTEG AGES PERPETUAL PAR FOR THESE SECURITIES From the day you make an investment in our 6% FIRST MORTGAGES Over a Third % s until the date of maturity your holdings won't fluctuate a dollar \in actual value—and the inter- est won't vary from the 6%. Century Without a Loss That's why these First Mort- gages of ours are rated in the list of “secured” securities. May be purchased in amounts from $250 up. B. F. SEUL. 0. National 2100 925 15th-St. N.W. THERE” IS 'NO 'SUBRSTITUTE FOR