Evening Star Newspaper, June 10, 1931, Page 13

FINANCIAL UPHARD BUSIESS TEREAYIS S Bankers Journal Notes Fac- "tors Showing |mprovement in Industry. BY EDWARD C. STONE. The continued subnormal rate of in- NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Note—All stock are sold in ene hundred share lofs excepting those designated by the letter s (80s) (350s), whkh:lmlhnanoehmnlllnlflllh- ghrev toa1 Stock Sates— Prev. g Dividend ‘Rate, Add 00. High. Low. Close. Oiose. Abitibi Pow & Paper 1 3% 3% m Adams Express (1).. 30 13% s Allis Chalmbers (2 oo Sales— end Rate. Aad 00, High. Low. T Gen Am Tank Carc) 14 86% 60 16% Gen Asphait (8)..... 17% Gen Baking (2). 36 Gen Bieo (1.60)..... 222 11% Gen Elec spec (60c). 12 48 Gen Focd Corp (3).. 17 4% Gen G & EI A (e300). 7. 31% Gen Motors (3)...... 626 95 Gen Motors pt (5)... 6 15 @Gen Ptg Ink (2%)... 501 - 8% Gen Public Service. . 2% Gen Realty & Util. .. THE EVENING STAR, . WASHINGTON, D. C., WEDNESDAY. ST[)GKS IN ADVANCE - JUNE 10, 1931, BRITISH CAN INDUSTRY. y the Associated Press. A vast ntial market wfll‘:en lost canners by. In Great Britain of l-‘l FINANCIAL. First Mortgage Loans Lowest Rates of Interest and Commission g Il Market Closes Strong, With ‘Activity Gaining in Final Trading. L BY GEORGE T. HUGHES. Special Dispatch to The Btar. NEW YORK, June 10.—Under a of the British industry, the cummm:e Department noted, dou- bled in 1928-29, as compared with the g;evlnus year, and redoubled in 1929- ire not available. In 1930 the British ministry of agri- n\llmu set up a voluntary scheme un- der the nationai mark for fixing the z::dlnz and packing of certain canner memwn fruits and vegetables. For under the mark, only the best unblemlahzd fruits and venmzln may be canned, and by means of an inspec- tion service a certain standard of qual- ity is maintained. There are at present 17 canning companies, operating 20 ENTERPRISE SERIAL BUILDING ASSOCIATION 7th and Indiana Ave. N.W. LOANS ON IMPROVED DISTRICT OF COLUMBIA REAL ESTATE SECURITY 66th khl .Q Stock Now Open bseription James E. Cuully James F. Shea Automobile Showroom and Garage 14th St. Very Reasonable to Immediate Purchaser This is one of the most desirable properties of its kind in thl n 75 ft. on 14th St., t. deep. Three finnn‘ 'llll large first floor showroom. e space for approxi- mately 200 carsi Owner anxious to sell at_once. Reasonable terms, This is Amerada Corp (3). 2: Gen Retractories '4) % dugtrial activity during the past month % Gen Theater Equip. . 3% ! combination of short covering and new |factories, that are authorized to pack President ecretary has proved disappointing, but it appears that after allowance for scasonal changes the general trend is now up- ward, the American Bankers' Associa- tion Journal says today in its monthly Teview of business. It continues: “The automobile industry has made a creditable record, production of the textiles and shoes is running better than a year ago and the basic steel industry is showing strong resistance to the contraction that normally occurs at this time of year. Business sentiment in the country at large is becoming more hopeful, although in New York and the other financial centers it remains pessi- mistic, which is natural in view of the persistent decline of the stock market and of second-grade bonds, unsettled political conditions, economic troubles and bank failures in numerous foreign countries. “Bank suspensions are becoming less frequent ang are confined imost en- tirely to the small country banks that are not members of the Federal Reserve system. The big banks in the money centers were never in a more liquid Pposition. “Total volume of retail trade is gaining, with the large department stores, chain organizations and mall order houses taking some business away from the high-priced specialty shops and small independents who have not yet recognized and put into effect the lower scale of prices. There is some consolation in the fact that such reduc- tion in wages or working hours as has occurred in various lines has been off- set in part by the substantial lowering in the cost of living, including food- stuffs, clothing and rent. “Without attempting to prophesy the future, it may be safely said that the likelitood of continued though slow re- covery seems much stronger than the poseibility of a renewed decline to still lower levels of depresston.” Sees Normal Trade in 1932. ‘The Nation's business will reach nor- mal by 1932 and continue its progress until 1933 finds a new era of prosperity in full swing. Dr. David Friday, econo- mist from Washington, said in an ad- dress to 500 St. Louls business execu- tives. “During the last five months retail prices have fallen on an average of 25 per cent, in some cases 30 per cent. You are bound to get some revival of manufactured output from that ad- Justment. “Labor costs have declined materially. ‘This is not due so much to the reduc- tion of wages, although there has been more of this than is generally believed or more than wage rates indicate, but rather in the great increase in the efficiency of labor and managerent dur- ing the last 18 months. “Production cannot continue at a level of 35 per cent below the peak if it is to meet the demand of consumers. This results in an increase in industrial activity. This turn means increased employment,” he sald. Further D. C. Convention Plans. Under the chairmanship of Mrs. Lanier P. McLachlen, wife of the presi- dent of the District Bankers' Associa- tion, arrangements for the ladles at- tending-next week's annual convention at Hot Springs, Va., have been com- pleted. An added social event this year will be an afternoon tea at the Casino between 4 and 6, Thursday, June 18. Other events include a Tom Thum putting contest on the same afternoon, dancing Thursday _evening, special luncheon and bridge party at the Cas- cades Club House Friday afternoon, dancing Friday evening and a ladles’ outdoor putting contest at 10 o'clock Friday morning. The committee in charge of these events includes Mrs, L. P. McLachlen, chairman; Mrs. E. J. McQuade, vice chairman; Mrs. Claude H. Woodward, Mrs F. H _Cox, Mrs. H, J. Hoskinson, F. Jacobson, Mrs. L. E. schrelner Mrs. A. S. Gatley, Mrs. C. H. Pope, Mrs, George O. Vass, Mrs. Fred- erick P, H. Siddons, Mrs. J. PFrank ‘White and Mrs. Wilmer J. Waller. Today's Trading on Exchange. Bonds were in_excellent demand on the Washington Stock Exchange today, the trading opening with $2,000 Wash- on Gas Light 6s, series A, selling at 4. Gas 6s, series B, came out at Railway & Electric 4s moved in a $1,000 transfer at 90%, and Capital Traction 5s led the day's bond volume with three sales at 83. ‘Twenty-five shares of Washington Rail- way & Electric preferred came out at 983, small sales in Merchant Transfer & Storage common were recorded at 98, while Columbia Sand & Gravel pre- ferred sold at 93. Potomac Electric Power 5% per cent preferred registered 11033, and the 6 per cent issue appeared on the board at 113. Four shares of American Securi- ;{w& Trust Co. stock changed hands at Heard in Financial District. Sales of the American Stores‘Co., for the four weeks ended May 31, showed A& 4.9 per cent decrease over the same period m 1930, according to a report made today. For 21 weeks sales were 3.3 per cent behind last year. . John C. Yost was recéiving congratu- lations today on his re-election as presl- dent of the East Washington Savings Bank. The other officers are Samuel H. Walker, first vice president; Lewis Flemer, second vice president; S. Wilson Earnshaw, secretary-treasurer, and W. H. Marlow, jr., attorney. The Richmond Federal Reserve dis- trict has been alloted $34,023,900 of the new Treasury 3% per cent bonds, sold last week by the department. The New York district naturally got the largest allotment, $386,604,750, with Chicago second in the list. Virginia Railway declared regular semi-annual dividends of 3 per cent on preferred, pnyable August 1, to stock of record July 1 Western Union Telegrnph Co. declared regular quarterly dividends of $2, pay- able July 15, to stock of record June 5. May postal receipts at 50 selected cities totaled $27,843,801, a decrease of :}325‘502 or 11.: 2:dfir un:h:nder May last year, accol to Post Of- e . % industr} cities the recel; in May of this year amounted to ’W 047,274, a decrease of $287,787 or 8.63 per cent under Mny, 1930. ‘MERGER REPOBTED NEAR. NEW YORK, June 10 (#).—The New York Times says the Chase Securities Corporation, investment affiliate of the Chase National Bank, and Harris, Forbes & Co., an old-established bank- ing house, which passed into the control of the CI organization last August, will be merged on or before July 1 into company to be known as the Chase- iu'm Forbes Corporation. The new organization will conduct Bror ey B ne separat panies. Chase Securities Cor- munn will continue as a holding company .for certain interests of the Chase National Bank. ‘The combined Chase-Harrls. Forbes organization will rank among the larg- est. security ahu-xhumn in the country. SILVER | QUOTATIONS NEW Yoax June 10 a(?i:m silver et &k 20, Am Brown Bov Elee. Am BrBEpf (7).. Amer Col'type (80c). Am Comel Alcohol. Am & For Power Am Haw St'ship (1 ‘Am Home Pr (4.20).. AmIce (3).... 1 Am International.... 13 Am Mch & Fdy 1.40.. 6 Am Mach & Metals 1 Am Nat Gas pf..... 1108 AmPow & Lt (21).. 9 Am Pow & Lt pf (6). AmP& L nf A st (5) Am Ra&Std San 60c. Am Republica Am Rolling Mills. . Am Safety Razor (5) Am Ship & Com..... % Am Smi & Ref (4) Am Sm & Ref pf (7). Am Solv & Chem. ... Am Solv & Chem pf. Am Stl Foundries(1) Am Stores (12%)... Am Sugar Ret (5)... Am Sugar Ref pf (7) Am Tel & Tel (9).... Am Tobacco B (18).. Am Type Fay of (1). Am Water Wks (3).. Am Wat Wks cfs (3) Am Woolen pf. Anaconda Cop (1%). Anaconda W & C (1), Archer Danlels Mid. Armour of Del pf (7) 4 Armour of Il A....q Armourof N B...... Armour of T pf..... 3% Arnold Constable. ... £% Asso Apparel (32)... 132% Atch To & S Fe (10), 100'5 Atch To&S Fe pt (5). 17 Atl Gulf & West Ind. 113% Atlantic Refining (1) 1013 Auburn Auto «f4). 1% Austin Nichols 3 lon Corp af Dal’ » R NEBeAARSS AN 1 [T e e Ses 1 o 9% Baldwin Locomotive 31 Balto & Ohio (8) 4 Barnet Leather p Barnsdall (A) (1). Beech-Nut Pkg (3) Bendix Aviation (1 Best & Co (2) 4 Bethlehem St Bethlehem St pf (7). Bohn Alum & Br 1 Borden Co (k3) Borg, Warner ¢ Briggs Mfg (11% Bklyn-Man Tr (4 Bklyn Man Tr pf - —Swen P T T R e et 4 v Bucyrus (1)... Bucyruscv pf (2% Bueyrus pf (1) Budd (E G) Mty Budd Wheel (1 5 Bullard Co. Bulova Wa Bush T Bldg pf (7) Butte Copyer & Zin Byers (A M).. 2014 Calif Packing (2). 2315 Calumet & Arizona 5 Calumet & Hecla.... 20% Canada Drv G A (3). 18 24% Canadian Pacific 1%. 50 9% Capital Admin A.... 8 29 Cap AdminpfA (3). 2 85 Car Clin & Oho (4).. 2 98 Car Clin & O sta (5). 50s 59° Case (JI) (6)...... 625 95 Case (J1) pf (7).... 408 213 Caterpillar Trac (). 7 14 Celotex Co pf 17% Cent Azuirre As 1 14 Cerro de Pasco(1.50) 7% Cheeker Cab Mfg. . 27 Ches & Ohio (2%)... 27% Chesapeake Corp (3) 4 ChiGreat Wostern.. 16% Chi Great West pf. 3% Chi Mil St P & Pac. 25 Chi & Northwest (4) 22% ChiR1& Pac(m2%) 17% Childs Co (2.40).. 121 Chrysler Corp (1).. 301 City Ice&Fuel (3.60) 7T City Ioe & ' ot (634) 808 2 City Stor ceness % 14 Clark Equipment (2) 183 Coca-Cola (173%).... 40 Colgate-Pal-P (2)4), 1 9 Coliina & Alkman 2 7% Colonial Beacon. ..., 20% Col Gas & Bl (2),... 126 98 ColGas& ElpfA(6) 1 89% Col G&EIptB (5).. 1 6 Columbia Graph 56c. 43 6 Col Grapho ctfs56c.. 1 85 Columb Carbon (5).. 22 13 Comel Credit (2). 20 Comcl Cred pf (1%). 508 7614 Comel Cred 18t (6%) 208 22 Comm Inv Trust (2). 12 82 ComelITcvpf (e6). 1 10% Comm Solvents (1).. 57 6% Comwlth&Sou (40c). 106 9 0 Cmwith & Soupf (6) 1 6% Congoleum-Nairn 7 2615 Consol Cigars (5) 54 Consol Cig pr of 6 3% Consolidated Film. 10% Conso! Film pf (3). 8214 Consol Gas N Y (4).. 101% Con Gas of NY pf(5) 113 Consol Laundries (1) 4% Consol Textil 91 Contl Baking 447% Contl 40% Contl 84 Contl Dia Fibre 3% Cont Shart 66% Corn Prod 6% Cotv Inc. 9% (xdvison Chemical Drlaware & Hud (9). Del Lacka & Wn (4). Detroit Edison (8).. Devoe & Ray (1.20).. 2 Diamond Match..... 4 Diamond Mtchof 1% 6 8% Dome Mines (1)..... 166 Domn Stores (1.20) 5 Drug Corp (4) ... Dupont de Nem u) Du P de N deb p! Eastman Kodlk ¢ Eaton Axle (1.60) ilec Auto Lite (8). El Auto-Lite pf (7) Bleo Boat. Elec Pwr & Lt (1) £lee Pow & Lt of (6) Endicott-John (3)..3 Eng Public Sve (2).. Eq Office Bldg (2%). Erfe RR.....iv0eeee Eureka Vac Cleanar. 15% Fairbnks Morse 1.60. 13 Fashion Park As pf. 5 Fed Mot Truck (40¢) 13 Fed Wat Sv A (2.40).~ 90 15% Federated Dept Strs, 1 564 Firest T & R pf (8) 31 245 2w N2 3 [YSTORTPRUIOT- P57 1% Fisk Rub 1st pf GV. « 858 21% Foster Wheeler (2).. 13 20% Fourth Nat lnv-t. 80% 123% 3% 20% 16% 31% 29 27% 35% 8T% 101% 4% 367 18% 40% 83% 1563% 39% 50% % 36% 132 19% 5% 26 75 88! 54% 69% 181% 116 11% 21% Gfllette Saf Rasor... 7% Glidaen C9..... 48 Glidden pr pf (7). 4 Gobel (Adolf).... 21 Gold Dust (2%).... 80% Goodyear Tire&R(8) 60 Gotham pf xw (7) Granite City Steel () 26% Grant (WT) (1) 43% -Grt North pf (§) 17% Grt Nor Ore (3)..... Tt Grt Western Sugar. . 80% Grt st Sug pf (7). 30 2% Grigsby Grunow.... % Guantanamo Sugar.. 10% Guif States Steel .. 27 Harb Walk Ref (2).. 40 Hercul owd (8).. 5% EHollander Sons, 4% Houdaille Hershey.. 27 Houston Oll. 6 Houston Ofl (new).. 13 Howe Sound (3)..... 33% Hudson & Man (3%)+ 11 Hudson Motor (1) 5% Hunn Motors . ll% 1llinois Central (4) Indian Motor Cyel Inland Steel (2%) % Inspiration Coppe: Insur Shrs Md(40c Interb Rap Transit. Interlake Iron (80c) int Bus Msch (né) Int Carriers, L Int Nickel (80¢) Int Paper t (1) Int Salt 3) Int Tel & T Intertype Investors Equity . Island Cr Coal (4) ... 40% Johns-Manville (3). 234 118 Jones & Laug of (7) 1408 1% Kelly-Spring Tire... 2 8 Kelsey-Hayes Wheel 1 814 Kelvinator Corp.... 76 14% Kennecott Copper (1) 25 Kresge (SS) Co 1.60. 17% Kreuger (M1.61).... 18 Kroger GrockB: 56 Lambert Co (8,. 93% Leh Port Cmt pf 4% Leh Valley Coal. 18 Leh Val Coal pf 45% Lehman Corp (3). 22% Lehn & Fink (3) 11% Lib Ow Ford Glass. . 60 Liggett & Myer (15). 6015 Li<g & Myers B (16) 19% Lima Locomot (m2). 221 Link Belt (2.40)..... 20% Liquid Carbonie (3). 36% Loew’s Inc (3) 2% Loft Inc. ... 40% Loose-Wiles (12.90) 3% Lsrtiiara (P4 Co.... Louisiana Oil. . 38% Loula Ol pf (8% )+ * son 25 LouG&EA(1%).. 4 61% L'ville & N'ville (5). 8% Ludlnm Steel. 16 McAnd & Forb 19% Meclntyre Porc M (1) 71% McKeesport T P t5% 170 McKesson & Rob ¢1) 16 213 Mack Trucks (3).... 24 66% Macy(RH) & Co(n3) 10 3% Manati Sugar pf. 3 30 ManElevmg.. 18% Marine Mid (1.20) 12 Market St Ry pr pf.. 2 Marmon Motor Car. . 23% Marshall Field (2%) 17% Mathieson Alkali (2) 28 ' May Dept Strs (234). 14% Maytag Copf (3).... 64 Maytag Co 1st pf (6) 10% Mexican Seaboard... 109 5% Mid Continent Petm. 2 13% Midland Steel (3). 7 3 Minn Meline Pow. 97% Mo Kan & Texas 39% Mo Kan & Tex pf (7) 14 Missouri Pacific..... 50 Missouri Pacpf (6). 9 18% MonsantoCh W(1%) 2 15% Montgomery Ward.. 147 37 Morrell (J) & Co (3) 1 % Mother Lode. ¢, B 1% Motor Meter G & El.. 8% Mullins Mfg. . . 6% Murray Corp. IS 20 Nash Motors (4). 3% Nat Bella'He 59 Nat Biscuit (2. Nat Biscuit pf (7) 116% Nat Lead pf B (6 20% Nat Pow & Lt (1). Nat Supply (4). 63 N YN H & Hart (6).. 5% N Y Ont & Weste 15% Noranda Mines. 4% North Am Aviation. . B6% Nor Am (b10.% stk). 153 80% Northern Pacific (5). 16 43 Northwest Tel (3).. 208 T OMBON. .. e & 2 Oliver Farm Equi, l 10 Oliv Farm Eq pr pf. 35 Orpheum Cir pf ( ). . 10- 31% Otis Elevator (3 38 Pacifnc Gas & Bi |!| . 11 48% Pacific Lighting (3). Pacific Tel & Tel (7). m- Packard Motor (40¢) 1‘2 Parmelee Transport. Paramount-Pub 2%.. Park Utah, . Patino Ming Penick & Ford (1)... Penney (J C) (2.40).. Penn Dixie Cement, . Penn RR (4) . Peop Gas Ch (8) Pere Marquette RY. . Peoria & Eastern...: Petrolm Cp of Am(1) Phila Co 6% pf (3). Phil Read C&L....q Mor & Co (1) .. s Petroleum. . Pierce Petroleum. P;lllbélr: nur [0 % 2% 19% 1 o e T TPIPES-THOTOITINE - JRTI 9 - 3 Coal Pitts Steel pf (7) Pour & Co (B). . Porto Ric- Am To(3). » Sw i Proellomb (2.40) Pub Sv N J (3.40)... Pub Sy N J pf (6)ecer Pub8v NJ of (6).... Pub Sve G&B p£(5) . ShulBaane t.—::_uu.-g._- 17% Raybestos :u aullllknu(nni) % Remington-Rand.... C Reo Motor Car (406). 10 Republic Steel.... ET T , the stock market worked grad- ly upward today, with the best prices reached in the last hour. Most of the time the turnover was moderate, but w?lvuy increased toward the close. |, tone in the commodity markets, par- ticularly cotton. They were influenced their output under the natfonal mark. NEW YORK CENTRAL rs of New York Central Rallroad, ers were cheered by the uturf“‘m YORK, June 10 (#)—Direc- by the declaration of the regular divi- dend on New York Central, by increased car loadings for a few individual rail- roads, although the totals for all roads were down again, and by better sales reports from department and chain stores, Public utllitles were the leaders in the late trading, all the stocks in the Eastern Seaboard combination being in active demand. Electric power p tion for this section was up, ags decrease elsewhere. Western Union was in urtent demand toward the end. The only soft spot was the gold miningi. The important news of the morning was the declaration of the regular dividend by the N. Y. Central direc- tors. At the last meeting of the board the rate had been reduced from an $8 to a $6 annual basis, and in view of the traffic'conditions it had been feared that a further reduction would be made today. Maintenance of the rate was considered an expression of confidence in the outlook and brought a sharp rally in the stock of three or four points, part of which was lost after- ward, Aside from the Central dividend there was little stimulating in the news. Loadings were down 44,137 cars from the preceding week and 149,130 un from the corresponding week a year g0. The rallroads are expected to pply for higher rates and there is m 1 dheuulon of a wage decrease. Be- sides N. Y. Central, railroad shares ranged higher, but were extremely in- active, Steel stocks could not have been helped by the weekly trade reviews. They made the rate of operations under 40 per cent, against 42 per cent last week, the loss being due mostly to a falling off in demand from the automo- bile manufacturers, The United States | Steel unfilled tonnage statement as of May 31 came out at nocn. It showed 8 decrease of 277277 tons, from 3,897,729 to 3,620,452, The most hopeful indications came from the retail trade, where buying was said to have been on a large scale since the recent reduction in prices. e U. S. TREASURY BALANCE. The United States Treasury balance, announced today as of close of business June 8, was $50,360,811.42. Customs re- ceipts for the month fo date were $7,826,141.56. Total ordinary expendi- tures, $23,372,139.50. Electrical Firm Expands. NEW YORK. June 10 (#).—Weston Electrical Instrument Co. has acquired the assets of Jewel Electrical Instru- ment Co. of Chicago for $500,000 in cash and 14,000 shares of common stock of Weston. ——— ‘The Portuguese government is fight- ing & whispering campaign relative to ge stability of provincial banking use: “The COMMERCIAL NATIONAL BANK regular quarterly dividen able August 1 to stockholders of record June 26. &mtnry to expefl.ntlom in many quar- in Wall declared the Street, toda; 2 of $1.50, pay- Expectations in some sections of the financial district had been that the dividend would be sgain reduced, this time to a $5 annual mu from the $6 | rate, which was established March 11 last, when the rate was reduced from $8. 6% INTEREST on D. C. Property Only! It you plan purchasing or re-financing property in_ the istrict. ask about our Plan o commissions charged, no Tenewals ever necessary. Open Daily 9 to § Saturdays Until Noon NAtional 1381 lull.DlNO ASSOCIAT ION 949 NINTH ST, NW. UNDER SUPERVISION OF U.S TREASURY| ANNUITIES PROVIDE SUPREME MAXIMUM INCOME yable monthly. mi-annuaily, pays mearly 12 SIMPLIFY TAXE NO EXAMINATION Send us the date of your Birth—if you desire to secure the Highest Rate of Income, with absolute, le- gally controlled security. Full information will be sent you, immediately, without obligation on your part. M. LeROY GOFF 1036 Woodward Building Nat. 0340 INSURANCE EXCLUSIVELY OVER 20 YEARS ale, age 65, 14th and G Streets Banking in All of Its Phases REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD lieations invited Bieh-class iwe ESTATE LOANS 5%% INTEREST E have plenty funls 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 years, Prompt decisions given applications. BOSS and PHELPS Realtors FOUNDED 1907 1417 K St. N.W. Correspondert John Hancoek uutuet Lije insurance Co. New Issue For True Safety and the Maximum Earning Power First Mortgage .Securities Conservative investors who wish a permanent investment with the maximum earning wer should invest in Guaranty rst Mortgages Securities. They are sponsored and guaranteed by . this corporation. 6% EARN Denominations as low as $100 | onthly Payments If Desired | send"for "Bookiet" e Hucess Flan» i | REALESTATE | MORTGAGE & GUARANTY CORPORATION 1610 K St. N.W. National 1403 Exempt From All-Federal Income Taxes , $200,000 Montgomery County, Maryland 4'/,%, Bonds | Due June 15, 1939 to 1970. The real value of taxable property in Montgomery County is officially estimated to be $150,000,000 and the assessed value is' $99,545,647, against which thcre is a net debt of $6,005,800. 49,206, The 1930 population is These Bonds, issued for the purpose of purchasing a courthouse site, are direct general obligations 6f Montgomery = County, valorem taxes against all therein. payable from unlimited ad of the taxable property Prices to Yield 4.10% Oomplete Circular On Request. Harris, Forbes & Cominny Y. E. Booker & Co. u-‘hlnu:l:.l ajthoush they do not eonstitute rep ased"Won information ?mn Ve ‘Tesard as I an outstanding opportunity. For Particulars Call H. L. RUST COMPANY 1001 15tk | National 8100 Money to Loan first deed of ¥ 1 te T Jouphl YR a,"::gnm Equztable Co-Operatwe Bldg. Ass n Organized 1879 51st YEAR COMPLETED JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secrefary Subscription for the 101st Issue of Stock Being Received Do You Desire a Loan —on Real Estate or to Take Up First Mortgage? - THOSE desiring money to purchase 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 ¥ ST NW. Tax Free In Maryland and District of Columbia Exempt From All Federal Income Taxes $95,000 Clty of Cumberland, Md. Memorial Hospital 41,9, Bonds Due December 1, 1957 Interest Payable June 1 and December 1 Price 110 and interest Yield over 3%% ALEX. BROWN & SONS “Established in Washington Office: Telephone Baltimore in 18! 737 15th St. National 1053 N.W. The BEST OPPORTUNITY in many years me large well-managed companies Tforming the backbone of our industrial life now offer the investor the best opportunity in many years to buy them. A purchase of an interest in a group of these leading companies may be made with diversification, convenicnce, and tax ad- vantages through Corporate Trust Shares. ROSS BEASON & CO., Inc. Eastern Syndicate Mamagers 120 Wars Sazer, Naw Yorx SAN FRANCISCO SALT LAKE CITY 108 ANGELES CORPORATE TRUST SHARES ELRST DOLLARS THAT ARE WORTH 100 CENTS ‘When you invest in our 6%, FIRST MORTGAGES you are adding a considerable value to the money invested, for every dol- lar will earn 6% throughout the term of years which the mortgage runs, Over a Third of a Century Without a Loss It is perfectly safe, too, because the mortgage represents improved Washington property which has been conservatively appraised. May be purchased in amounts _from $250 up. B.P.SAVL GO National 2100 925 15th St. N.W.