Evening Star Newspaper, July 3, 1931, Page 10

FINANCIAL. A—10 o wwR " THE EVENING STAR, WASHINGTON, D. €, FRIDAY, JULY 3, 1931 REAL ESTATE LOANS . YORK STOCK EXCHANGE | (STOCKS ARE HIGHER 1STOCK SWINDLING |--sstisres et .. "REAL BSTATE Lo Received by Private Wire Direct to The Star Ofice. Jooegh . * TYLER & RUTHERFORD IN'SMALL MARKET| CASES T0 BE TRIED revvesemee —sewrae T BUILDING ASSOCIATION 7th and Indiana Ave. N.W. NEW Note.—All stocks are sold in one hundred share lots - WQUADE NAMIES | High. Low. Dividend Rate, Add 00. Hlf‘h, Low. Close. l-‘lunl . . 14 3'% Abitibl Pow & Paper ki 9 e b . y e : 20'% F th Nat Inv 2 District Bankers’ President| 2s: 11 Adams Exvress (1).. 56 0% Fourin XatThvintic 1i 28 8315 Adams Exp pf (5)... 105 7% K% 87 o b okl 4 ~Prev, 1931~ Stock a Sates— Dividend Ri Add 00, High, 1l FlorsheimShA1%.. & 25% 2115 Foster Wheeler (2).. 25 31% 4 e 4% Foundation Co. 15 8 : 2 Wall Street Optimistic Over|New York District Attorney Appoints Heads of Two |0k " Aliaiinean tion) 1 Association Units. BY EDWARD C. STONE. Two important standing committee ; appointments were announced today | by Edward J. McQuade. president of « the District Bankers' Association, as follows: Budget Committee—C. H. Pope, chairman, and vice president, Munsey | Trust Co.; Albert S, Gatley, execu- tive vice president, Lincoln National Bank: George O. Vass, vice president and cashier, Riggs National Bank, and Frederick P. H. Siddons, secretary American Security & Trust Co. | Committee on New Quarters—George | O. Vass, chairman, Riges National | Bank; F. G. Addison, jr. president, Security Savings and = Commercial Bank; Lanier P. McLachlen, president McLachlen Banking Corporation; Fred- erick P. H. Siddons, American Security & Trust Co.. and Aubrey O. Dool president, Washington Chapter, Amer- jean Institute of Banking., and con- nected with. the Federal-American’ Na- tional Bank. Facing Important Work. The Budget Committee is always an important, committee, although its work | % not of a dramatic_nature. ‘The| chairman, Mr. Pope, is first vice presi- { dent of the association and the other three members are all officers in the. bankers' organization, Mr. Gatley now serving his twenty-second year as treas- urer. a problem to solve. Under the pres- The Committee on New Quarters hasi “ i Alleg €01 p. .60 Alleg Cp §3 51%. 3 Allied Ch & Dye (n6) 84 Allis Chalmbers (2),. Amerada Corp (2)... Am Agri Ch of Del... 4 Am Beet Sugar. Am Br Shoe (2 40) Am Brown Bov El Am Br BE pf (1) Am Can (15). o Am Car & Fdry (1).. Am Car & Fdy pf (7) 30s Am Chain 2). Saie Am Chicle (13) Am Comel Alcohol ustic Till’ Am & For Power. Am & For Pw p Am & For Po Am Haw SUship (1) Am Hide & Leather. . Am Hide & Leath pf. Am Home Pr (4.20).. Am Ice (3). Am lce pf (6) Am International... 2¢ Am La Fr & Foam pf 30 Am Locomotive (1).. Am Mch & Fdy 1.40.. 16 An: Metal Co. - Am Nat Gas p Am Pow & Lit (3 AmP&Ltpt A (4).. Am P & L of A &t (5) Am Ra&Std San 60c. Am Republics. ... Am Roliing Mills. Am Shipbuilding (5) 10s Am Smelt Ref (2)... 3 A ; tl Foundries(1) r Ret (5)... Am Tel & Tel (9) % 5274 15% 170 5 a1 36 1% 43 au 54 36 96 314 95 14 814 4615 2% 29 3% 214 62% P % 48 4 21 81 3 10 13 10% 8013 Gabiiel Co A~ Gardner Motor...... Gen Am Tank Car(4) Gen Asphalt (3)..... Gen Baking (2) Gen Bronze. . Gen Cigar (4) Gen Elec (1.60 Gen Elec spec (60c). Gen Focd Corp (3).. Gen G & EI A (e30c). Gen G & El cv pf (6). Gen Mills (3).. Gen Mills pf (6)..... Gen Motors (3)..... Gen Motors pf (5)... Gen Outdoor Adv. Gen Out Adv A (4) Gen Public Servic Gen Ry Signal (5). Gen Realty & Util... Gen Refractories «4) Gen Theater Equip. . Giltatte Saf Ragor Gillatte Saf R pf (5). Gimbel Bros........ Glidden C. Glidden pr pf (7) Gobel (Adolf). Gold Dust (2% Goodrich (B F)... Gra = Granby Con Min (1), Grand §11 Strs (h1).. Grand Unlon. nd Union p - nt (WT) (1), . at Northn. ar. . Grt West Sug pf (7). 4t rizsby Grunow. ... )1f Siates Steal Py S PP " Outcome of War Debt Conference. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 3.—Influenced by the dispatches from Washington and Paris predicting confdently the con- clusion of a satisfactory agreement rela- itive to the international debt mora- torium the stock market closed active and strong today. There was a minor recession in the last 15 minutes, due to realizing, but substantial gains oh the day were re- corded in all the active stocks. U. S. Stecl was {he leader in the last hour at its best price since the recovery from the lows of June 2, y Stop loss orders were touched off on the way up as the stock pushed through 105 in considerable volume. Keavy tuying of the motors was a feature, particularly General Motors and Chry- sler. Westinghouse was helped by the were strong, with Consolidated Gas at $100 a share and American Telephone & Telegraph around its best price on the rally, The feature in the commodity mar- kets was the strength in cotton, up $1.50 a bale. Grains were fractionally Iower and trading in sugar, silk and hides was dull. The overnight news from Paris was interpreted favorably by the market land opening quotations were almost universally higher. All of the leading industrials moved up, including United States Steel, American Can, Chemical and Woodworth, Tae early covering movement and the utilities { Allied | Has Nine Court Actions on Calendar. BY BRADLEY W. TRENT. Special Dispatgh to The Btar. NEW YORK, July 3—Of interest to investors throughout the country is the information obtained from Federal officials that they will bring to trial this Fall the greatest number of al- leged stock swindlers in the history of New York. Nine major cases, in- volving millions of dollars, are on the calendar of United States District At~ torney George Z. Medalie, During the boom pericd hundreds of swindlers infested the financial dis- trict like a horde of seven-year locusts, riding to wealth with the bull market. They took more than $500,000,000 an- nually from the gullible, but few of them were ever brought to justice. Many Writs Obtained. Injunctions were obtained by the Attorney General's office in wholesale quantities, but the percentage of crim- inal prosccutions was amazingly low. As was_brought out before Commis- sioner Samuel Seabury, it was almost zero as far as the county district at- torney's office was concerned. Former United States Attorney Tut- tle was more active in obtaining in- dictments, but when he resigned his office to campaign for Governor he left the pigeon-holes crammed with cases awaiting trial. It has fallen to Mr. Medalie’s lot to try them and he has decided to pitch in and clean the cal- endar. LOANS ON IMPROVED DISTRICT OF COLUMBIA REAL ESTAT SECURITY ? 66th Series of Stock Now Open For Subscription James E. Connelly James F. Shea President Secretary Invest Your Dividends or Interest Checksin 6% Guaranteed FIRST MORTGAGE SECURITIES ‘These conservatively appraised non-fluctuating investments a secured on income - producing properties right here in the NATION'S Capital, Denominations as low as $100 Monthly Payments if Desired ~ Send for Boorlel, “The Success Plan” REALESTATE - MORTGAGE & GUARARTY SAVINGS Loans From the Na- tional Permanent Building Associa- tion Require no Re- newals and Are Made Without Com- mission Charges. D. C. Real Estate Only o w . At 6% Interest, Open Daily 9 to 5 Saturdays Until Noon NAtional 1381 NATIONAL [PERMANENT CORPDRATION 1610 K St. N.W. National 1403 o en Watpf A 1% 10s ent arrangement the students in the Am Tobacco (1€). 43 Hann Dept Stores. .. 30 Institute of Banking use the Am Tobacco B (16).. a?;:flcr:not e Bankers' Assosiation in| 8 Am Water Wks ()., 14 B 5 %80 Hakn Dot BUDEEHD 1 the Becker Building, on F street, for Am Wat Wkscfs (3) 2 B R T their class-room work. The annual re- 5% Am Woolen. . 7 6 2 Lis HAch RN 0 3 port of Frank M. Perley, last year's Am Woolen pf. 11 Hercules Pow pt (T) 210s chapter president, made at Hot Springs, 4% Am Zine Lead & e 3% ”'"‘h",,v,. ‘;nc (5). showed that the institute has completely Anaconda Cop (1%). H?\u::m: AHT:: ontgrown its present accommodatio Anchor Cap (2.40) F L LR Tt i5 only & question of time before new Andes Copper....... Household Fin pt (4) quarters for the chapter will be an ab- Armour of Del pf (1) ],(:::;lm Ollaeeesenr solute necessity, and that time seems Armour of 111 A, o on e new).. fast. approaching. Armour of 11l B. ”I’:‘;\‘;;'n‘\'l:‘a;,‘)‘,] Mr. Vass, chairman of the new com- Arnold Constable. | HuEseer ). ¢ Accordingly the Federal Building wiit hum with activity this Summer. Postal inspectors and assistant United States attorneys have been assigned to cases. The orders are to have them ready by Fall and one, at least, i3 ready now Ifea trial judge were to be assigned tomorrow the case of Charles V. Bob, |Z the mining engineer and aviation en- | thusiast, whose investment trust col- | = H H H realizing, in wiich a part of the gain| advances were followed by a period of | tge‘:l in turn another slow | 949 NINTH ST, NW. UNDER SUPERVISION OF U.S. TREASURY] e e Money Available for Mortgage Loans H was lost. and advance. Public utilities occupled a prominent place in the trading, with Consolidated | Gas leading and both high-priced and ! low-priced issues following along. Amer- | ican Telephone represented the first | | classification and United Corporation the second. There has been a good | deal of discusion in the Street of late | ; as to-political influences adverse to the l‘ejfg‘g‘;‘fl“a“’ld e kit whan) utilities, but anxiety on that score was ! IHOUE "o brepared are the fol- lapsed with losses of §6,000,000 to in- your application for a FIRST TRUST mittee, is second vice president of the association, Messrs. Addison and Mc- Lachlen are past presidents, and Mr. Siddons is the present secretary. MTr. Dooley is president of Washington Chapter, A. I. B, this year, so is in particularly close touch with the needs of the junior bankers taking institute courses, Special Committee Also Appointed. President McQuade of fhe District Bankers' Association has announced | the appointment of the following to| represent the assocfation at the Fourth Pan-American Commercial Conference | to be held in Washington October 5-12, 1931: Robert V. Fleming, president Riggs National Bank, to represent the na- | tional bank group. Lanier P. McLachlen, president Mc- Lechlen Banking Corporation, to rep- resent the State bank group. | Francis_ G. Addison, jr., president Sccurity Savings & Commercial Bank, | 1o represent the savings bank group. | Edward L. Hillyer vice president and | assistant trust officer Union Trust Co., | to_represent the trust company group. Mr. McQuade. as president. will rep- | resent the District Bankers' Association 5 a whole, Riggs Bank Reports Deposits. The Riggs National Bank reports total deposits at the close of business on June 30 as $57.586.294.01. Artioom Corporation 30s ociated Apparel., Asse Dry G (2%4). Asso D G 15t pf (6).. Atch To & S Fe (10). Atch To&s Fe pf (5). Atl Coast Line (7). .. Atlantic Refining (1) Atlas Powder pf (6). Auburn Auto (f4)... Autosales. ... Autosaies pf. Aviation Coro aldwin Locomotive aldwin Loco pt (7). 2 alto & Ohio (5) Balto & Ohio pf (4).. sdall (A) (1)... Belg N Ry pt pf 11.82 Bendix Aviation (1). Best&CO (2)......0 2 Bethlehem Steel (4). 160 Bethlehem St pf (7). siooming os Bohn Alum tooth Fisheries. . crden Co (K3). Borg, Warner (1 brizss Mfz (11%) riges & Strat (2 Klyn-Man Tr (4) « Bkiyn & Qu T pf (5). Bklyn Union Gas (5) Bruns Ter & Ry S... Bueyrus (1), Bucyrus cv pf (2 Budd (EG) Mfg 3udd Wheel (1). 182 11% 11 24 15 Ty 21 T4 4% 100 1913 1% 17 6% 1% 405 : 11614 a0 1% 9 R R4 1% Tilinols Central (4).. Indust Ravon (4). Ingersoll Rand (4).. Inspiration Copver. . Insuranshares Del A Interb Ran Transit. . Interlake Tron Int Agricultural, Int Bus Mach (n6).. Int Carriers, Ltd 50c Int Cement (4) Int Combustion. .... Int Harvester (2%). Int Harvester pf (7) Int Hvdro E1 A (e2). Int Match pf (4) int Nickel (60¢) . Int Paper & Pow C. . Int Paper & Pwr pf.. Int Printing Ink Int Salt (3) Int Shoe (3). Tnt Tel & Tel (2).... Inter Dept Strs (2).. T<land Cr Coal (41 Jewel Tea (4). E Tohns-Manville (3).. 169 Tones & L £ (7). 108 1 Kans City Sou pf (4) 1 Kelly-Spring Tire... 16 Kelly-Spr T 8% pf.. 60s Kelsey-Hayes Wheel Kelvinator Corp..... KKendal: Co pf (6)... Kennecott Copper(1) Kinney (Git)Co pf.. Kresze (SS) Co 1.60. | not 1n_evidence toaay. An_exception to tne trend was Na- tior.al Biscuit in supply not much above the year's low. One explanation ad- vanced for the selling was liquidation { offerings for short account. | Biscuit_has always sold on a high ap- praisal of reported earning power, but the company consistently maintains an extraordinarily strong financial posi- tion, and its record of growth-over the years has always been pointed to in justification of the high market price of the stock. ' BROKER LOAN TOTAL GAINS $73,000,000 | | special Dispatch to The Star. | | statement of the Federal Reserve on brokers' loans showed an increase of 1 to a total of $1,479,000,000. This compares with a total of $1,406,000,000. the low for the movement, established last weck, and with $3,219,000,000 on July 2, 1930. Loans for own account were $1.129.- 1000,000 compared with $1,065,000,000 a weck ago; loans for out-of-town banks totaled $181,000,000 against $170,000.- by an investment trusc and another was | National | NEW YORK, July 3.—The wrekly, lowing: James M. Hoyt, owner of 78 per cent of the stock of the brokerage house of Prince & Whit:ly, and one of the firm's nine partners who was indicted on Ma: 4 on 14 counts, each charging mail fraud. If convicted he may b2 sen- tenced to 70 vears in Atlanta and fined $140,000. The firm of Prince & Whit- ely failed on October 9 with liabiflties of more than $20,000,000 after its sus. pension from the Stock Exchange. Other Cases. Former Magistrate George F. Ewald, a director of thé Cotter Butte Min Inc., and five others who wer> indicted on July 9, 1930, for using the mails to jefraud. Former United States Attorney Tuttle is asking for the indictments. characterized the prop:rty as “a hole in the ground” and charged that the public had lost at least $400,000 in the venture. As a result of a John Doe inquiry con- Gucted by a Federal grand jury into th2 peration of an illegal pool in stock of the Manhattan Electrical- Supply Co., $73,000,000 during the week end:d .yuxvilnc. six persons, including Robert H. a former president of the com- were indict:d on October 3, 1930. turned against the operators of an ac- credited financial pool. The schem> is said to have cost investors batween $3.- 000,000 and $4.000,000 through the ma- nipulation of th> stock so 2s to inflate it from $6 and $10 to prices ranging from $50 to $70 a share. H wITH our facilities and financial resources § LOAN (ngw or refinanced) is sure to have very prompt consideration and action, Loans will be made on approved apartment house, office building, residential and business prop- erties, in Washington or nearby Maryland and Virginia — Covering 1 periods of 3,.5 or 10 years—and at / 7 the low rate of 2 0 RANDALL H. HAGNER & COMPANY MORTGAGE LoAN CORRESPONDENT . l(//'f ///r/- Z/ ‘yu.///m”r( ’/l/”l vany 1321 Connecticut Ave. Decatur 3600 ST T O GO MR Columbia Building Association 716 11th St. N.W Under Government Supervision Compounded Pays 5% Let Us Refinance Your Maturing Real Estate Loan reugzer&Toll (1.61) This compares with figures on the Krozer Grac&Rak 1) 1ast, controller's call on March 25 show- ing deposits of $59.371,166.03. | It will be remembered that on that date the bank had an increase in de- posits over the December 31 figures amounting +to $5.447,204.40. i The June 30 figures, just announced by President Robert V. Fleming, are of unusual interest in the bearing they Calumet & Hecla.... ma; ha\'c on the total aggregate de: 5 Canada Dry G A (3). posits in all local banks on June 30. anadian Pacific 1% . 13 If these figures are a criterion, total dacposits in the Washington banks just row are slightly lower than they were| mn March. | Securities Law Study Voted. At a special meeting of the D Bankers' Association late yest ¢ headquarters, it was voted to have a! special study made of the laws govern- ing the sale of securities in the vari- ous States. i : Such action was recommended by the | Committee on Law and Legislation in| the annual report made at the recent| Hot Springs convention, Francis G. Ad- | dison, jr.,, being chairman of the com- mittce.” ' The = recommendation was| 2copted by the convention and a few | days later the date for the special| meeting announced Tt is presumed that the result of the study of securitics laws in force in different States will be presented to Congress in a bill covering the needs of the District of Columbia. | There is sufficient time for counsel | to digest the most, satisfactory laws now | in fcree outside the District and present Washington’s nezds before the next! session of Congress Bullard Co. . Bulova Watch (13). Semi-Annually Bush Terminal (21%) Rush T BIdg pf (7).. 10 1 9 o 1 1 1 1 furrouzhs A M t1%. 12 = s Butte Copyer & Zine, 5 3 3 3 3 No Commissions Charged [T IO P P vield 3.90 per cent to the call date = and 4.25 per cent to maturity, by a A Equl’table Co-operative Bldg. Ass,n syndicate headed by the First Nationa! | Old Colony Corporation. ¥ Organized 1879 51st YEAR COMPLETED JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary PARIS BOURSE PRICES. | Subscription for the 101st Issue of Stock Being Received PARIS, July 3 (P).—Prices were | Do You Wish A Loan | firmer on the Bourse today. Three per Thos s on Real Estate cent, rentes, 87 franes 80 centimes. Five borrow McGraw-Hill ( McKeesport T P 5% 21 McKesson & Rob £1) 1 McLellan Stores.... 1 McLellan St pf A (6) 220; 3 Mack Trucks (3).... Macy (RH) & Co(n3) Mad Sa Garden (60c) 4 Mallison & Co. .. Mandel Brothers., Man Elevm g fos ) T francs 54 centimes. Market St RY....... 208 Marine Mid {1.20) 6 DIVIDENDS DECLARED Marlin-Rockwell (2) % RS Marmon Motor Car.. 18 : NEW YORK, July 3 (.— Marshall Field (233) 1 Reduced. Mathieson Alkall (2) " 11 . 2 mate, £z, o Mldre of May Dept Strs (2%). 57 | Company. ate. riod. able. " recor Tak Maytag Co bt (3. ... 5%, 15 | Boos Brog . . IVVeE QAue. 1 Jduly 18 ake ] |P a Maytas Co 1st pf (6) 63 63 (Sunbury, Pa)..$2.25 8 July 1 June26 ! Melville Shoe (2).. 265 2615 Omitted. | receive prompt and cour- ? Mengel Co.... 5 5 5 -Aetns Real.$i B DueJune 3 INTEREST % F M ? Mexican Petrlm (12) 108 100 100 R T pr s teous attention. 1rst ortgagde! ; g NSRIY € b w3150 @ Due June ag BOSS and PHELPS Mexican Seaboard 30 16% 16% Loans Repayable Monthly Republic P{ )c Q@ DueJuly 1 Miami Copper . . o Realtors No Brokerage . . . No Commissions BE 2. cossee AT Due July 1 Mid Continent Petm.. FOUNDED 1907 915 F ST. N.W. Midland Steel (3). 113 K St. N.W. July 16 = Loan Correspondent Minn & St Louts John Hancock MSitua Eife Tnsurance Co. July 16 June 25 000, and loans for account of others amounted to $169.000,000 contrasted (Copyrignt. 1931) P TR with $171.000000, Demand loans con- —_———— e stitute 000, of the tota Yeo Tubber & Tire. :| against $1,032,000,000 a week ago. and INTEREST RATES. i bkl A 3% 2| time loans were $381,000,000 against | ~d Press Leh Val Coal pf (3).. p p $374,000.000. . v ratss remained pegged at min- Leh Valley ) The New York Federal Reserve dis- imum lsv:ls last week as calculated b,v‘ Lehman Corp T Vo ’mcr rediscount rate remains unchanged | the Commerce Department. In the!| Lehn & Fink (3). . iat 112 per cent. averages that follow the level is given Lib Ow Ford G S - for both classes of funds at leading : . THEreT s Myer CH0y. NEW SECURITIES centers for comparabl> pcn?:s: i ; CarClin& O sta (5). 408 963 96% 9 a Li=z & Myers B (15) ime. Call. || . Case (J 1) (6). 4 Lig & Myer pf (7). .. e i Week ended \‘7(une - 50 22 Years’ Successful Business aterpillar Trac (3). Iima Locomot (m2). " Frevious week. . e . Cerro de Pasco(1.50) Liquid Carbenic (3). NEW YORK, July 3 (#)—New se-|Same week last Without the Loss of a Dime Checker Cab Mfz loew's inc (5). .. curities offered today_include: Ches & Ohio (23%)... Loew’s Tne pf (6%). State of Montana’ $2.096,000 4'; per | Chesapeake Corp (3) Tioft Ine ; e £ cent public buiiding bonds, due July 1, Chi & AItOR Pf. .. .0e Loose-Wiies 1961, and callable in 1941, priced to eat Western. . Lorillard (F) -ee 114 t West pf. Loriliard (P) pf (7). P & Pac Tonisiana Of1 ceee Chi MilStP& P pf.. 17 le & vill Chi & Northwest i4). Chi Pneu Tocl. Chi Pneu Tool Chi R1 & Pac(m2%) Chi Yellow Cab (3).. 1 1 3 4 1 0 a | per cent loan, 103 franew85 centimes. Exchange on London, 124 francs 28 | City Ice&Fuel (3.6 centimes. The dollar was quoted at 25 | City Ice & I pf (635) Clev & Pitts (313) abody (3). la (17% olzate-Pal-P (2% Colg-Palm P pf (6).. Collins & Afkman... Colo Fuel & Iron. ... Col Gas & El (2) Col Gas & El pf A (6) ing was the first held under the new | 111s Solum b Y administration, Mr. McQuade being in| '35 e Coat A the chair. The attendance was large. Comel Cred pf B (2) Financlal District. Notes. T esptiit). - Every bank, stock brokerage and in- St vestment house in the city will be Comwlth&Sou (40c). closed tomorrow, the Feurth. | Cmwlth & Sou pf (6) The Washington Rapid Transit Co.| 4 C Yeports a decrease in carnings in May | of $2,032.42 and a decrease for the first five months of 1931 of $1,117.43, com- | have adequate funds for loans on improved Real “state in nearby Montgomery v, Md,, and the District of Columbia for periods of 3, 5 or 10 years. Prompt deci- sions given applications. who desire to money to pur- chase a home, refinance present indcbtedness or improve property, should see us. Applications will or to Arizon; Do. 7% BI. Balaban & Katz.. o S Bandini _Petroleum. .5¢ Congress C‘igars Consolldated 9 7 - MSP&SSMIsd (4) . 108 Consol Gas N Y (4). 302 % 9 - ‘oz » < T i pared with the same period last year.| Con Gasof NY pf(5) 4 o ;‘:::Ig'“"-fi; 10 Gan Dredee & Dock 15 F. & W. Grand 5-10-25 Cent Stores | Consol Laundries (1) S 2 ¢ L R declared regular dividends cf 25 cents Consol Textii s 3 st T e moacena Ll an Pl’l’-‘ ;7 3 Contl Baking A. Montzomery Ward. ferred stock. Common Is payable July Cont) Baking B..... Morris & Fssex 3%. . 20 to stock of record July 13, while| Contl Baking pf (8).: T e preferred is pavable August 1 to stock | Contl Can (2%).. et e of record July 13 i Contl Dia Fibre (1). Mhivay Coro FOREIGN EXCHANGE. sy X@uotations furnished by w. B, Hivbs & Co)| g 5% Corn Product Nominal ine check ' odt minal s6ld Selling checks | Corn Prod of (7). London, pound 148665 248815 Coty Inc. .. Faris. {ranc D geiue 9ide x Carpet Brussels, beisa 1301c 13193%c wn C&S pf (2 Crucible Steel. . Berlin, mark Zmieh. fan: ) 3 c < Crucible Steel pf (7) ‘Athens, drachma. ... Cuba Cane Prod Cuban-Amer Sugar.. Cuban Dom Sugar... Madrid, peseta... Vienna. schilling Curtis Publish pf (1) v 9 9 Curtiss Wright Corp NYChl&StL (6 3 sl A ‘Budapest. pengo Prague, crown E rtiss Wr Corp A.. Bla 5 5 N Y Investors. . has appointed 8 whole- 4 Cotler Hamm e, : oW mg p BN O - an?:g‘lan!l‘id 1,800 part-time medical in- N Warsaw, 7loiy. Copenhagen, NH & Hof (1) Y Ont & Western spectors of factories. N Y Rallways pf. N Y Steam pf (6). 208 N Y Steam 1st pf (7) 20a Noranda Mines. . 71 © poRpoOOO Shs ..29. 5 . A\ () : : ; Sk N FIRST IORTGAGES OtShila Pacs Ry. . 5180 Hammond Clock Co_50c Harriman Sec .. $7.50 Hartford Times pl.75¢c Heath Aircraft Co.8%c Co. Cl A. 12'3¢ Tlinois Pac st & Do.. A .12%¢ L\!}I’CB‘}YI Pire Ins of Oahu Ry & Lai ATk ones Bf. B it Boliihie Btrs Corp dat Blos E 2w THERE IS NO RISK IN OUR 6% FIRST MORTGAGES t Bella Hess. Nat Biscuit (2.80).. Nat Cash Register A, Nat Dairy (2.60). Nat Dist Prod (2) Nat Pow & Lt (1) Nat Steel (2) Nat Supply ( Nevada Copper (1). Newport Co (1). Newton Steel. By N Y Central (6).. WD ew OFl June 25 July 15 June 30 July 20 July 20 June 29 pnBos 2R e Our loans are made on improved Washington real estate—which we have conservatively apprais{'d—so there is nothing speculative about these First Mortgages. WHEN OUR FOREFATHERS —founded this republic, for- eign powers looked upon the political experiment as one that would not long survive. 1Time haf! shown other- N 1 wise, and faith in American - gL R'g:{h&A\:"eAlv:[':J:n 12; ¢ Ideals and Institutions Nor Am (b10% stk). 120 . e North Amer pf (3).. itself. North Am Ed pf (6). & Nor Ger Lloyd m2.56 1The Metropolitan has been Northern Pacifie (6. 44 . part and. parcel of the Northwest Tel (2).. 50s nation’s financial strength Ohio Oil. 28 for over One Hundred and Oliv Farm Ba prpf.. 1 Seventeen Years. Omnibus Corp. ... 1 Otls Elevator (2)).. 7 OtisSteel.......... 1 11 Otis Steel prpf (7).. 30s 45 33 pf... Do. 6% pi. | © Do © pd PORO O DOOWOD D' Oslo. erown Btockholm, | SHORT-TERM SECURITIES. | 1374 107 Drisware & Hud 5. 102 Del Lack & Wn (4).. (Reported by J. & W. Seligman & Co.) 109 Devoo & It 18t pf (1) ofer. | 53 Diamond Mateh is- < Co, Bs 1037 01 Aerizan Necter s s 1004 8 | 13% Dome Mines (1) American Tel. & Tel. 5° 9 24 Domn Stores (1.20) Baltimore & Ohio 4's 1033 :f 215 Douglas Afr (11%) LR A B I e 8% Drug Corp (4)... 107 Dupont de Nem (4) 124 % Dn P de N deb vf (6) i SRt oAU b L L O 1 1R6% castman Kodak (18) 4 tiaton Axle (1.60)... t_ams Bitington-Schild. .. 2 ol —Tov Eitincton-Schild pf % 55% 5% B 26 tilec Auto Lite (6 5 61 Grand Trunk ‘of Canada 65 1838 El Auto-Lite pf (7) 581 Guif ol or'Fs. 5 1837 . Elec Boat. ... i3] e Ol 318 1932.. . Blec Pwr & Lt (1) Internat. Match Corp.’ 53 104 0 Bleo Pow & Lt pt (1) 69% Marland Oil 5s Natiopal Dairy Prod 5% 1943 Flec Stor Bat (5). A% g6l Owera il Glass (3 1 Bortiand “General Blec. 55 1935 101 ; BnilootbIena(a). 4 R R R L Ly -+ s E Public Sve (2) cific ting (3). 2 56 SrRARIC Orinde O10Co, 51us 103 10 . M5 Erie RR. > K oo g 116 Pacific Tel & Tel (7) 80a 1251 Reasonable Commission and Southern Pacific 55 1934 _...... 1 3 - 4, 5% Packard Motor (48c) 54 8 Prompt Repli Standard Ol N Jersey 65 1936 alrbanks M pf (1), 83 19% Paramount-Pub 23%. 157 281 Api 1 plications Standurd Oll N. York 41,5 1951 Fed Lt & Tr (11%)., 4% Pathe Excharge. 96 21y AMB F SHEA . LR Federal Screw Wks. . 5% 3 Pathe Exchange A..: 180 8% A J 643 Indiana Ave. N.W. Over a Third of a You know at the outstart that the return will be 6%—and it continues uninterrupted to maturity. Century Without a Loss May be purchased in amounts from $250 up. B. F. SAUL CO, ational 2100 925 15th St. N.W. Money on Hand to Loan on First Deed of Trust 6% Rt National - 0 etropolitan BANK Fifteenth Street' Opposite U.' S. Treasury Union Elec, Lt. & Pow. 55 1933 s a Union Ol Co. of Calif. 53 1935, i Fed WatSv A (2.40). 18 1T & Patino Min 91 s Firest T & R pf (6) . 6% 64% 28% Penick & Ford 3 3Th United Drug Co. 5s 1 Virginia Rallwey & Pow. 51 1934 First Nat Strs (2%) . B4 (52% e W (Continued on Page 11.), THERE IS NO SUBSTITUTE FOR SAFETY Western Electric Co. 53 1944... 106 Wheeling. Steel Corp. 5'as 1048 90%%)