Evening Star Newspaper, June 29, 1931, Page 13

FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. BANKERS TO PLAN | v SECURITIES BILL| D. C. Association Will Hold Meeting Thursday to Pass e on Legislation. BY EDWARD C. STONE. | To consider the advisability of having their own securities bill drawn up for presentation to Congress, the District , of Columbia Bankers' Association will hold a special meeting, Thursday, July 32, at headquarters in the Becker Build- ing. The Law and Legislation Committee of which Francis G. Addison, Jr. is chairman, recommended at the Hot Springs convention that the matter be placed before the full membership of the association for final action, the recommendation being adopted. For a number of years the District Bankers' Association has advocated & law that would more effectively control and regulate the sale of securities in the District. The attorney for the Invest- ment Bankers' Association of America, who happens to reside in Washington. drafted a law of the “fraud type” aimed to meet the local situation. This law was studied by the bankers, amended slightly, introduced in Congress and became known as the Capper bill. Capper Bill Favored. ‘The bankers instructed their Com- mittee on Law and Legislation to ap- pear before congressional hearings on the bill, express the approval of the association and the desire that the bill be enacted into law. Subsequent to the introduction of this bill, what is known as the “Blaine bill" was introduced ik Congress, this being of the “blue-: type of law. All the local associations Tepresented at. the hearings expressed a preference for the Capper bill. How- ever, the Blaine bill was passed by the Senate, although it did not reach the House for final action. In his annual report Chairman Ad- dison compared ‘in detail the essential differences between the Capper and Blaine bills. The Capper bill requires that show- ing of responsibility be made to the District Commissioners and their ap- proval granted before a license can be issued. also the filing of a bond of $10.000 in favor of the United States to be written by an insurance company with not less ‘than a million dollars paid-in_capital, that is authorized to do business in the District of Columbia. ‘The Blaine bill does not require the Commissioners’ approval and does not require a bond The Capper bill give inquisitorial powers to the United States district at- torney. while the Blaine bill gives this right to the Public Utilities Commission ‘The Capper bill exempis the banks from the provisions of the bill, while the Blaine bill does not. Power Given District Attorney. The Bankers' Committee held that it 1s vital for the district attorney to have the power to stop the sale of any se- curity through the practical means of a suit in equity and enjoining the sale of any security that is, in his opinion, “being sold by means of fraudulent statements or through misrepresenta- tion as to values or essential factors toward safety of the investment.” The report made at Hot Springs ex- pressed strong opposition to the Blaine bill and at the same time indicated doubt if the Capper bill will be passed For that reason it was felt that the | local bankers should secure counsel, | have the good points of fraud laws in various Siates all over the country care- | fully studied and have a new bill pre- | pared which will embody the best fea- | tures of these other law: | It is this proposition that the repre- | gentatives of the member banks are to vote at the special meeting. The aim | is to give the District of Columbia a satistactory securities law, the commit- | tee stating that such ' law is con- | ceded to be needed. The meeting will | be the first under the new administra- | tion. the notices sent out today being signed by the president. E. J. McQuade, and secretary, Frederick P. H. Siddons Local Bank Call Due Soon. According to custom. Controller of the Currency John W. Pole, is expected | to issue a call for the condition of all| the banks in the District of Columbia within a few days. Such a call prac- | tically always comes around the end | of the Government's fiscal year. Considerable speculation is being manifested as to what the call will show | in the way of total deposits in the banks here. It will be recalled that the March call found the Washington banks in an unusually sound position with a sub- stantial increase in deposiis since De- | cember. It is believed that deposits | on the next call will stand up well with | the March figures There are always a good many with- { drawals around the latter part of June | in connection with large accounts. Peo- | ple place their funds in Liberty bonds or some tax-exempt security for a short time in order to avoid the personal tax which it due July 1. If there are many such withdrawals this vear from check- ing accounts. the total amount may cu down deposits_in the banks here so | that no new high deposit marks will| be_made. For several weeks, however. deposits have been holding up splendidly. It is believed that right now savings depos- its are probably the highest they have ever been in Washington. They have been piling up steadily ever since the Wall street crash late in 1919. | Busy Session on Exchange. | Monday trading was unusually heavy | on the Washington Stock Exchange | today. | Bonds were extra active, there being one $10.000 sale and one $14.000 rale of Washington Gas 4l4s at 100'5. Other bond issues were also in favor. Columbia_Sand & Gravel preferred Jed the stock division, 10 shares chang- ing_hands in four sales, ex-dividend, at 90 | Potomac Savings Bank stock came out at 65 and a single share of Amer- | ican Security & Trust Co. stock sold at 310, Potomac Electric Power 5! per cent preferred sold at 111 and 111'; and | five shares of Washington Gas Light| £old at 1154, Washington Railway & Electric pre- perred sold up to 100 during the ses- sion, closing at 99%. MARYLAND TOBACCO PRICES. BALTIMORE, June 20 (Special).— Receipts of Maryland leaf tobacco in- creased last week to 423 hogsheads, while sales totaled 181 hogshezds, leav~ ing a stock in_State tobacco ware- houses of 4,068 hogsheads. The demand from cigarette grades of leaf tobacco continues good, but other grades not’so active. Nearly all farmers have finished planting. and' having showers last week helped the growing crop to get a good start. Quotations today for Marylard leaf tobacco per 100 pounds: Frosted and | inferior, 3a6.50; sound mon, 7a20; medium to good. $20a3 good to fine red 36a52: fancy, 5: 53, Seconds, common to medium, 6a ! 30; good to fine, 31a4l. Upper coun-! try, burley, nominal. CHECK TOTAL DECLINES. By the Associated Press. Checks cashed on individual ‘bank ac- | counts in 265 cites of the Federal Re- serve Board declined 20 per cent during the week ended June 24, As compared with the previous period. Total debits for ccmparable weeks. as measured hyl returns to the board, follow* Week ended June 24..... § 270.807.000 Previous week 8ame week 1ast year.ea e 16 543,454,000 THE EVENING Note.—All stocks are sold In one hundred share lots excepting those designated by the letter s (80s) (2508). les— A\!’;l)'l: High. Low. Close. Close. 5 Prev. High. Low. 14% 2814 284 109% 20% 8% 12% 594 59 1828 42 23 623 A% a8 12% 12 129% 38% 86 43% a8sy 21y 14'5 8814 B1% 93 10% 8 30 64 102 4B% 195 194 23 26 1315 24 21 T8N B4 Stock and Dividend Rate, Abitibl Pow & Paper Adams Express (1) 18'4 Addressogrio 1.40.. 70% Air Reduction (t4%) 7 Alaska Juneau (40c) 5 Albany V\'l"p Paper. 4'4 Alleg Corp..... . 20% Alleg Cp $30 ww 5% . 15 Alleg Cp $40 ww 5% . 102% Allled Ch & Dye (né 18% Allis Chalmbers (2) 15'3 Amerada Corp (2). 34% Am Bank Note (13).. 1'4 Am Beet Sugar.... 25% Am Br Shoe (2.40). 5% Am Brown Bov Elee. 31 AmBrBEDL (7). AmCan (t6)...c.00e Am Car & Fdry (1).. 1931 3 114 6 45 9 21 70 356 5 Am Car & Fdy pt (7) 2308 Am Chain 2) Am Chicle (13). Amer Col'type (80c). Am Comcl Alcohol. . % Am Buropean Secur. « Am & For Power. Am & For Pow 2d f. Am Haw St'ship (1). Am Hide & Leather. . Am Hide & Leath pf. Am Home Pr (4.20).. Am lce (3) Am International Am La Fr & Foamite » Am Locomotive (1).. Am Mch & Fdy 1.40.. Am h & Met ctfs. Am: Metal Co. AMP&LEPLA (4).. Am Pow & Lt pt (8). Am Ra&Std San ¢0c.. Am Republics. .. Am Rolling Mills. ... Am Safety Razor (5) 23 . 1054 11 Am Shipbuilding (5) 3808 Am Sm & R 24 pt (8) Am Snnff (43%4).... Am Solv & Chem pf. Am Stl Foundries(1) Am Stores (1234)... Am Sugar Ref (5). Am Sugar Ref pf (7 Am Sumatra Tob. ... Am Tel & Tel (9). Am Tobacco (16).... Am Tobacco B (16).. Am Water Wks (3) Am Wat Wks cfs (3) Am Wat W 1st pf (8) Am Woolen.... Am Woolen pf... Am Writ Paper etfs. Am Zine Lead & Sm. Anaconia Cop (1%). Archer Danlels Mid. Armour of Del pf (1) 4 Armour of Tl1 A Armour ot Il B. Armour of 11l pt Arnold Constable. Associated Apparel., Asso Dry G (234). Asso D G 1st pf (6 Asso DG 2d pf (7).. Atch To & S Fe (10). Atch To&S Fe pf (5). Atl Coast Line (7). Al Gulf & West Ind. At Gulf & W 1pf (5) Atlantic Refining (1) Auburn Auto (£4) Aviation Corn of Baldwin 1 omo Balto & Ohio ().... Balto & Ohio pf (4).. Bamberger pf (613). Bang & Aroos (3%3). Barnsdall (A) (1)... Bayuk Cig 1st pf (7) Reatrice Cream (4).. Beech-Nut PKg 13). Bendix Aviation (1). Best & Co (2) . Bethlehem Steel (4). Bethlehem St pf (7). Blaw-Knox (1%)... Bohn Alum & Br 1%, Rooth Fish 1st pf Rorden Co (k3). . Borg. Warner (1)... Bota briggs Mg (11%).. Briggs & Strat (2).. Bkiyn-Man Tr (4) Bklyn Man Tr pf (6). Bkiyn & Qu T pf (5)+ Bklvn Union Gas (5) Brown Shoe (3) .. Bruns Ter & Ry S... Bucyrus (1), Bucyrus cv pf (2%)% Budd (E G) Mf&.... Budd Wheel (1). Bullard Co....... Bulova Watch (134). Burroughs A M {134 Bush Terminal (214) Bush Term deb (7)., Butte Copper & Zine. Butterick Co. Rvers (A M). alif Packing (2). Callahan Zinc & Ld.. Calumet & Hecla. .. Canada Dry G A 3 ian Pacific 1% ase (J 1) (). Caterpillar Trac (3). Celanese Corp. Cent Aguirre An1%. Century Rib Mills. .. Cerro de Pasco(1.50) Certain-teed Prod. . Checker Cab Mfg. Ches & Ohio (2%)... Chesapeake Corp (3) Chi & Alton. . . Chi & Alton pf...... Chi Great Western.. % Chi Great West pf. Chi M1l St P & Pac. .» Chi Ml St P& P pf.. Chi & Northwest (4) Chi&N W pl (T).eee Chi Pneu Tocl. Chi Pneu Tool pf.... Chi R1& Pac(m2%) Childs Co (2.40)..... Chrysler Corp (1)... City Ice&Fuel (3.60) City Ice & F pf (6%) City Store: Cluett-Peabody (3). Coca-Cola (17%). Colgate-Pal-P (2%4). Colg-Palm P pf (6).4 Collins & Alkman. .. Colonial Beacon. .... Colo Fuel & Iron Col Gas & El (2). " Columbia Graph Col Grapho ctfs 56c. Columb Carbon (5).. Comm Solvents (1).. Comwlth&Sou (40¢). Cmwlith & Sou pf (6) Congoleum-Nairn. .. Consol Cig prpf 6%. v Con M (A)... 5 2 A BENAN—E N DINAA LA E RS ™ 255 xR 108 Consol Cigar pf (7). 1008 Consolidated Film. .. Conso! Film pt (2).. Consol Gas N Y (4). 3 Con Gasof NY pf(6) 4 Consol Laundries (1) Consol RR C pt (8).. Consol Textile. . Contl Baking A Cont] Baking B Contl Baking pf (8). Contl Can (2%). Contl Insur (2.40) 4 Contl Motors. Contl Ol of Del. Cont Siares Corn Prod (13%). Coty Inc. Craam of Wh ( Crex Carpet. Crucible Steel. Crucible Steel pf Cuba Cane Prod. Cuba Co. Cuban-Amer Sugar.. Cuban Am Sugar pf, Cuban Dom Sugar... Cudahy Packing (4), Curtis Publish (4) Curtiss Wright Corp Curtiss Wr Corn A.. Cushmans pf (8).... r Hamnier 451 Del Lack & Wn (4).. 11% Denver & RG W pf.. 140%. Detrott Edizon (%) 11 Devoe & Ray A(60¢c). 14% Diamond Mateh... . 24% Dlamond Mteh of 134 K1, Nome Mines (1).... Domn Btores (120), Douszlas Air (11%).. Drug Corp (4) . 2 1 241 6 1 1 11 7 90n & Seme s 60s R e B a1 78t 4 51y mm 1614 18% 8T% 1214 5 1614 19% 874 134 8 Prev. % 1% 18% 90 u., 1‘7' 5| ! | | | of o2 ol ~Prev. High, 107 124 186% 21 4% A 60%, 10844 35% 398 12% 8% 25 3 13 16% 30 26 i 211y T 47 2b% 12814 207 10% 19 32 833 1534 393, 50% 60 36% 277 444 I 0% 1931 Low. 71 118% 118 9% 344 2 80% 92% 21 18% 5 4 17 1 an a1 114 16%y 6% 13 b6% 4 ~ 21% 2019 11% 22 4% 5214 Stotk and Dividend Rate, Dupont de Nem (4).. 107 Du P de N deb pf (6) 1 Eastman Kodak (18) 28 Eaton Axle (1.60)..., 13 Klec Auto Lite (6. 101 Bleo Boat. o 5 Elec Pwr & Lt ll)‘ 202 Elec Pow & Lt pf (1), 4 Eq Office Bldg (2%). 2 Erle RR. 0 Eureka Vac Cleaner.. 3 Evans Auto Produets _ 2 Exchange Buf (1%). 30 B Fairbanks Co pf. Federal Screw Wks. Fed Wat Sv A (2.40), Federated Dept Strs. F1d Ph Fire In (2.60) Firestone T& R (1) . Firest T & R pt (6) First Nat Strs (2%). Fisk Rubber Foster Wh Fourth Nat In Fox Film (A) (2%) .. Freepor Gen Am Investor: Gen Am Tank Car Gen Asphalt (3). Gen Baking (2) Gen Bronze. ... General Cable pf.. Gen Cigar (4) Gen Elec ( Gen Elec svec . Gen Food Corp (3).. 22 GenG & Bl A (e30c). 27 GenG&Elevpt (§). 1 Gen Mills (3).. 16 Gen Motors (3) . Gen Motoss pt (5). 4 Gen Outdoor Adv. 6 13 33% 11 4l dltin Gen Public Servie Gen Ry Signal (5). Gen Realty & Util. Gen Refractories (4) Gen Theater Equip Gillette Saf Rasor... Giliette Sat R pt (5). Gimbel Bros. .. Gimbel Bros bt (1).. Gldden G, .. Glidden pr pt (1) Gobel (Adolf).. Gold Dust (2%). Goodrich (B F) ioodyear Tire&R(3) podyear 15t pf (7). Gotham Si1k Hoslery Gotham pf xw (7). Gotham 8 H pf (7) Graham-Paige...... nby Con Min (1) Graud Union..... Grand Union pf (3). anite City Steel(2) Grant (W T) (1). Great Northn pf ( Grt Western & Grt West Sug pf (7).110s Grigsby Grunow.... Gulif Mobile & North, States Stee| Hann Dept Stor Hall (WF) Pr Co (2) Harb Walk Ref (2).. Hawatian Pineap ( Hayes Body Hershey Cho Harsh Choc, ot (15)... Holland Fura (12%) Hollander Sons. . Homestake Min (11). Houdaille Hershey. . Household Fin pt u) Houston Of1. Houston Ol ywe Sound (2) . Hijasontatian (3%). Hudson Motor (1). Hupp Motors. 50 7S Central (4) Indian Motor Cycle.. Indian Refining Indust Rayon (4).. Ingersoll Rand (4) Inspiration Copper Insur Shrs Md(40c).. 3 Interb Rap Transit 11 61y 40% 105 1164 Intercont I Interlake Iron (60c). Mach (n6). Int Cement (4).. Int Combustion Int Comb E Int Harvester (234) . Int Harvester pf (7). Int Hydro E1 A (e2). Int Match pf (4). nk(anr!i?] 5 t Paner pf Int Shos (3). Int Silver pf (7). Int Tel & Tel (2) Inter Dept Strs Investors Equity. Jewel Tea (4) Johns-Manville (3) Johns-Manv pt (1) Jones & Laug pf (1 Rarstadt ( 3 Kayser (J) & Co (1). Kelly-Spring Tire. 8% pf.. 40n s Wheel 8 Kelvinator Corp. 2 Kendall Co pf (6) Kennecott Copper Kinney (Git)Copf.. KKresge (SS) Co 1.60. Kreuger&Toll (1.61) Kro; Lambert Co (8 Leh I'ort Cement Leh Valley Coal... Lenman Corp (3) Lehn & Fink (3) Lib Ow Ford Glass, Liggett & Myer (15). Livg & Myers B (15) Lily Tulip Cup (1%) Lima Locomot (m2). Link Belt (2).... Liquid Carbonie (l). Loew's Inc (3) Loft Inc. .. Loose-Wiles (125 Lorillard (F) Co. Louis Ol pf (6 Tiville & N'vil Ludlum Steel. McCall Corp McCrory Stores A(2) McCrory B McCrory pf (6). Mclntyre Porc M McKeesport T P 15 McKesson & Rob 1) Mcies&Rob pf(3%) 4 McLellan Stores. ... 1% iy 1614 614 20 474 3 17 59 146 18% 26% 29 19% 18 20% ag 26 Mack Trucks (3). Macy (RH) & Co(n3). Magma Copper (1). Man Elevmg .. Marine Mid (1.20) Marmon Motor Car., Marshall Field (2% Matnieson Alkall (2) May Dept Stra (2%). Maytag Co. Mengel Co. Mexican Seaboard Miami Copper . . Mid Continent Petm.. Midland Steel (3). Minn Moline Pow. Minn & St Louis Mo Kan & Texas. ... Mo Kan & Tex pf (1) Missouri Pacific. ... Missouri Pac pf (b). Mohawk Carpet..... 2 Monsanto Ch W (1%) Montzomery Ward. . Morris & Essex 3% Mother Lode. .... Motor Meter G & El. Mullins Mfg. Munsing, Inc (2). Murray Corp o = o IS sehintelnnsimdnbanne Nash Motors (4). Nat Acme (80¢). Nat Bella Hess. Nat Bellas Hess pf.. Nat Biscuit (2.80) 39 Nat Biscuit pf (1) 3 Nat Cash Register A 14 Nat Dairy (2.60). ... B6 Nat Dept Strs 18t(4) 508 Nat Dist Prod «2)... 3 t linam & Stamp Nat Pow & Lt (1). Nat Steel (2).. Nat Supply (4). Bates— Add 00. High. Low. Close. Close. 91% 154 181% 46% 314 44% 99% 28 26% 6% 5 1814 1% 10 65 17% 25% 47 20 2214 29% 46% 6% 601y 4 65 9% 11815 119 2'4 14 2'% 124 1% 00 20 21 8% 5% 50% 19% 80 12% 30 45 41 82 22 88% 1114 31y 63 34%% B8Y 16 33% 28 35% 43 4 16% St 10 20% 4 k) 177% 61t 23t 2314 &1ty 1 2 26% 19 9% 6% 150 18 3% 40 28%% 22 8% 122% 122% 161% 17% 44 3% 41% 99 27 6% [ 5 18% 1% 9 64 17% 26% 461, 20 65 564 £y 31 2% 59% 38 38% By 1474 63 91 15% 17 25 25 51 65 aan 147 6 451 568 11813 119 214 137 2w 163 14 11 401 30 328 461 51y 50% 19 a5 80 1214 29 44 41 82 22 86'% 10% 30 6% 33 84 151 333 2 ’N'y 2244 34 415 4 15% 8 9% 20% 4 M 16% 601 23 211 8114 % 2z 25 19 8% 294 615 25 66% 150 27 368 40 28 22 (Continued on Page 14.), 90 1224 151% 17% 447 3% 42% 99 28 26% 6% 5 18% 1% 9 oy 17% STAR, WASHINGTON, ISTOCK PRICES DROP Prev. 1224w 156% 18% D. C., MONDAY, JUN VE 29, 1931. ON PROFIT TAKING Rail Group Hardest Hit. Losses of One or Two Points Numerous. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, June 29.—The widely predicted reaction in the stock market came today, but it was a mild affair. Active stocks sold off 1 to 3 points on small volume and without bringing in any important liquidation. Here and there a special issue advanced against | the trend. Among the features in the last hour | were the strength in United Aircraft, in | International Shoe, and the selling of | Foster Wheeler. J. 1. Case was active | all day, most of the time being higher | under short covering. Auburn auto weakened toward the end. In general | the market, considering the scope of last week’s advance, acted very well. At the opening there was no definite | information as to the exact situation in Paris with regard to the negotiations on the international debt moratorium. In the commodity field the only news was an advance in the price of copper | and zinc. Railroad earnings made their usual unfavorable . comparison with those of a vear ago. All told, the mar- ket had little elsc to reflect than opin- fons about its technical position and these were almost unanimous that re- acton was in order. Losses of a point or two in lbading stocks were the rule during the morn- ing hours. United States Steel, for m- stance, ‘sold under 103, against Satur- urday's high of above 104. American | Can lost 2 to 3 points. General Electric over a point, Consolidated Gas a couple of points, and other stocks in propor- tion. The rails came down rather easily. | The only reason for the.advance in the | carrier stocks last week was the im- provement in the general market. There was still the same doubt about the titude of the Interstate Commerce Com- mission toward the application for hig er freight rates and there was still the same unfavorable i ning outlook. The decline in the was larger than that in the industrials and took in all active members of that part |of the list. Steel Stockholders Gain. NEW YORK. June 29 (P —Stock- holders of the United States Steel Cor- poration showed an increase of 7.117 dyring ‘the three months to_ the date 6 closing the books for the June di dend The total was 156.239, compared with 149,122 in March. At the end of De- | cember there were 141907 stockholders and in June last year the total was 129,629, May preferred dividends went to 58.- | 291 steckholders, compared with 58.701 in February and 60,645 in May last year. Labor disputes in Japan are increas- ing in number and se We Give Property effect that it pays owners bilities and worries to us. Prompt MoRTGA g 1321 Connecticut Ave. UM in connection with the management of prop- erty which only experience can answer and organization with adequate facilities can put into EHERE are so many problems constantly arising We know the procedure in the profitable man- agement of apartment house, office building, resi- dential and business properties—and this knowledge and service are yours for very nominal fee, remittance invariable rule of this office. RANDALL M. HAGYNER & COMPANY LoaN Comrnes LOANS ON STOCKS IN SHARP DECLINE Securities Lending by Benks Is Now Believed on Sounder Basis. By the Associated Press. The present position of banks with respect to loans on securities approxi- mates the level set by leading bankers as indicative of & sound financial structure. I The latest statement of the Federal Reserve Board, for the week ended June 17, shows security loans of mem- ber banks totaling $6.720.000.000, & de- preciation of about $1,000,000,000 since the first of the year and of $1,888,000,~ 000 in the last 12 months. “All other” loans of member banks now_dominate the lending accounts, the latest week showing $7,862,000,000. Whereas the security loans dropped $71.000,C00 during the latest reporting period, all other loans showed an ad- vance of $12,000,000 during the week. For the last 12 months all other loans have declined but $658,000.000, Brokers’ loans, as reported by the board, for the week ended June 24, stand at $1,406,000,000, considerably | below the level of the normal year of 1926. A decline of $2.010,000,000 is shown as compared with 12 months ago. The peak in brokers' loans was reached in the Fall of 1929, when the total was just less than $7,000.000.000. Non-banking lenders, it is said here, have been practically eliminated from | the money market due to the prevailing low rates, Jeaving to the banks them. selves the control of credit for specu- lative and 1-hmmrm purposes. POTATO MARKET. CHICAGO, June 20 () (United States Department of Agriculture).— Potatoes—Receipts cars; on track, 1359: total United States shipments, Sat- urday, espec Bliss Triumph Texas, 1.15a1.3 651; on unday, 28: prices weal acked stock: trading f Oklahoma, Arkansa : decayed stock, 50 up; Louisiana, Mississippi, 1.20a1.30; few fancy. 1.35a1.40; poorer, 75 up: North Carolina_barreled Cobblers, 2.50a2.60; few sales 2.80. REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD Avplications invited on high-ela: apartments and dwellings, and partic Iarly ‘on well loeated business properties, for 2.5 ar 10 vears, 1520 K St. N.W. if <o desired. National 0475 Money on Hand to Loan on First Deed of Trust 67 Interest Reasonable Commission and Prompt Keplies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. | LlIIIIIIIIIIIIIIIIIIIIIIIlllllllllllmlllIIIIIIIll|l|IllIIIXIIIllllilllllllllmlflllIll!I|I|IlII|Il|llIIIllIllI!IlIXI|l|lIIIIlllll"ll"lfllll"llfl; Personal Attention to transfer their responsi- is the PONDENT [’ surance Oc mppany Decatur 3600 ATLDOVAULEAPEULBOOAA PR AL U LT M1 T II!IIlllIII|I|IMIl|IIIIIIlI|IlIlII|IIIlIllI|IlII§ V Washington Building Our offer a ver a Third y 4 invested in of a Century Without a and the throughout May be from $250 National 2100 THERE Construction Loans in generous income, with absolute safety, You can count on 69¢ IS NO SUBSTITUTE - REAL ESTATE LOANS As Mortgage Loan Correspondent of the Metropolitan Life Insurance Company we are prepared to assist you. Any Amount EAVER BRO REALTORS District 9486 Loans made in the District of Columbia and nearby Maryland and Virginia -SAFE INVESTMENT FOR THOSE WITH MODEST NCOMES No one wants to risk his invest- ment money, and least of all those whose incomes necessitate caution. 69 FIRST, MORTGAGES combined for your money, these first mortgages, is piotected by conservatively appraised improved Washington real estate— interest will not vary the term of the mortgage. NORTH AMERICAN TRUST SHARES Semi-Annual Distribution, 30 Cents per Share Payable June 30, 1931 With a Valuable Reinvestment Privilege Coupone may be collected and reinvestment rights exercised through our office KnNaPp €5 Co., INC. INVESTMENT SECURITIES Washington Office, Shoreham B‘uildi.ng Telephone Metropolitan 1933 ¥ Columbia Building Association 716 11th St. N.W. Pays 5% Bring This Ad and Receive $1.00 Credit ON OPENING A NEW ACCOUNT Let Us Refirtance Your Maturing Real Estate Loan No Commissions Charged 22 Years’ Successful Business Without the Loss of a Dime Compounded Semi-Annually purchascd in amounts up. B. F, SAUL CO 925 15th St. N.W. FOR SAFETY Eqmtable Co-Operative Bldg. Ass'n Organized 1879 51st YEAR COMPLETED 1 JOHN JOY EDSON, President WALTER S. PRATT, Jr.,, Secretary 1' Subscription for the 101st Issue of Stock Being Received Get in touch with us if you desire to borrow money to purchase a home, refinance pres- ent indebtedness or improve property. Ap- plications will receive prompt and courteous attention. LOANS Real ES“'C To Take Up First Mortgages Loans Repayable Monthly No Brokerage . 915 F ST. No Commissions N.W. OPPORTUNITY TO round out our used car Stock we need ten automobiles. As an inducement to secure these cars without delay, we are willing to make spe- cial allowances on vour present car toward the purchase of a brand-new Franklin of the latest series, This is not a clean-up of old models. The factory has assured us that the present series mall be comtinued throughout the vear. Right now we have the following used cars in stock: 1930 BUICK 5-PASSENGER COUPE. 1929 FRANKLIN DE LUXE SEDAN 1928 FRANKLIN DE LUXE SEDAN. 1927 JORDAN VICTORIA COUPE 1926 FRANKLIN SEDAN 1928 FRANKLIN 7-PASSENGER SEDAN . Remember, we want but ten additional cars. CALLAN MOTORS Franklin Distributors 1529 M._St. Drive the new Franklin and experience riding lke gliding. Publlc Confidence —in the strength and standing of this sixty- five-year-old bank finds expression in a cli- entele exceeding 53,000. QAn institution whose service suits such a large army of depositors can not fail to prove a satisfactory custodian for your PAYDAY and other funds. Same Rate of Interest Paid on Large and Small Accounts OFFICERS: ep DIRECTORS: gll‘ll IM_ D. HOOVER LAII RANK ‘Jl!l'vl'l;()A 2 2nd VI