Evening Star Newspaper, August 11, 1931, Page 13

NEW YORK STOCK EXCHANGE - 1081, Stoek ai Tow. " Dividind Rose. 314 Ahitibi Pwr & Paper, 13% Abitibi Pwr&Pap pf. 26 Abraham Straus: . 11% Adams Express (1) 8815 Adams Exp pf (5) Adame Millis (2). Addressograph 1. - Adv Rumley Alr Reduetion . Alaska Juneau (40e) Alban: ViupPlpor. Aliegany Corp Alleg Cp pf $30 ww. Allez Cp 340 5 B4 Associations in District E?‘ « Also Show 3,210 New @ Memberships. ! Wwenty-four savings, bullding and ! Joan associations in th? District o(, g I' ta up to t'lh 404,000, the vear 1930, these associ e a gain of 3210 mem- bringing the total here up | h_‘;’b 53. res were disclosed today 8t Philadelphia in the annual report M lh! United States Bullding and Loan its secretary-treasurer, H. ; IAHWI of Cincinnati. The league Allis Chalmers (2). . Ameraca Corp (2), Am Rank Note (13) Am Can Co (15) Am Car & Pdry (1).. Am Chicle (13)..... Am Comel Alcahol . Am Burepean Secur. Am & For Power. Am & For Pwr pf (7). Am & For Pwr 24 pf, Am Hide & Teather. Am Hide & Leath pf. Am Home Prod .20, Am Jee Co (3) Am Internationa i Am La Fra&Foam of. Am Locomotive (1). Am Lo'motive pf (7) Am Mch & Fdy 1.40. Am Metal Co. . Am Natural Ganm pf, . Am Pwr & Lt (11) 2 Am P&Lt pf A st(5). Am Radiator (80c), Am Radiator pt (7). Am Republics. _Am Rolling Mil) Am Safety Razor (5) ~ Am Smeit Ref (2). ., Am Snuft (133) Am Solv & Chem Am Steel Found (1). Am Rteel Fary pf(7) Am Sumatra Tob. ... Am Tel & Teleg ( Am Tobacco (16) . Am Tobacca Am Water Wk Am Wat Wks ofs(3) its national convention in Phllmelp ia, to celebrate the 100th anniversary of the founding of the first American building and loan associi tion in Prankford, a suburb of Phila: Washingtonians are attending C. Clinton James, who is chairman of the National Legis- lative Committee of the league; William 8. Quinter, president of the District Bullding Association, who is secretary | of the District Building Association | Council, and Carl J. Bergmann, secre-) 85 tary of the Washington 6 Per Oent| 21% Building Association. ’Tg«. Gain Shareholders. ar In his annual report, Mr. Cellarius today further pointed out that savings. building and loan associations in the United States gained last year more than twice as many sharesholders as they gained in 1929, Fotal assets of the association in- ereased $128,964,939 during the fiscal year ending December 31, 1930, the re- | rt showed. The figures were totaled rom 11,777 assoclations, 10 of which are in the territory of Hawail. The league is the national organization of the bullding and .Joan business, total membershin in building Joan associgtions in this country at the end of 1930 was 12,336,754, an in- crease of mus shareholders over the anlmu year,” said Mr. Cellarius. “In m we gained exactly 115,304 share- Accordlng to Mr. Celiarius’ report, the mortgage loan investments of all building and lean assoctations in the United States in 1930, including the tesritory of Hawail, were $7:864,281,108. ‘The record increase in mortgage loans in 1930 was recorded by Kansas, where the building and loan associations in- creased their mortgage loans by $4.212.- 806 last year. Nearby States Gained. The report confirmed Pennsylvania's | lead among the Btates in \mlldv% and loan assets with a total of $1,371,223,429, Ohio_was second with $1244,266,926, and New Jersey is making a strong bid to Jeave third place with §1,211,941913, than 000,000 _ATh__16h 66 45 ARis 24% Am Woolen Co p AmZinc & 1gad. ... Am Zinc & Tiha pf. . Anaconda Cop (1%). Armour of 1T pf .. Arnold Constable. Associated Appare Asso Dry G (23). Amso DG 18t pf (6). Atch To&S Fe (10).. Ateh To&S Fe pf (5) Atiantic Refining (1) Atlas Powder (4). Atlas Powder pf (§).1 Auburn Auto (f4). Antoeales Aviation.Corp (Del). Baldwin Tocom Balto & Ohio pf (4).. Ralto & Ohlo pf (5).. { Rang & Aroos (3% Barnsdall Corp'n. Beatrice Cream (4). Beech-Nut Pkg (3).. Bendix Aviation (1). Best & (o (2) 3 Bethlehem Steel (2), Rethlehem 8tl pf (1) Bohn Alumn (1%) Borden Co (k3). Rorg Warner (1)..., Briggs Mfg (11%). . 10 Brockway Mot Tr pf 58% Bkiyvn-Man Tran (4). 85% Bkiyn-Man Tr pf (§) Brown Shoe (3). Rruns Term & Rw. chusetts, $19.f H 000,000, and mrl $12,000,000. Sev- eral States, hot decreases, rswn amved Lhn a;e State of Virginia has 92 assoc %ll,fl!l 002 in nao ln ml assets of Virginia® —Mflg Wl"l”\nlfl!fl 1] Maryiand, i aryland, where re- | sald RButteriek Byers 1A M) Co. B3 201 Callf Packing (2). .. Calumet & Hecla. ... Camp W&C Fdy (1 Oanada Dry G A (3), R a Sovthn (3). ian Pacific 1% non Milis (1.60) . pital Admin (A). . Case (11) (§) Celanese Corp....... tAguirre (135).. Chi M) 1P & Pac 1 Mil 8tP & Pac pf, i & Norihwest (4) Chi Preu Tool B Chi Pnen Tool pf ChiRT & Pac (m23) Childs Company Chrysler Corp (1 City St0 Coca-Cola (1 * & Alkman a&Riec (2) s&EIplA (6). h (i6c) . “olumb Carbon ‘omcl Credit (7) ‘omel Cradit A (1) ‘omel Cred 18t(8%) . ‘omcl Inv Trust “omel Sol ay omwith&Sou (40c) . ‘om with&Sowpf (§) Im-Nafrn (1). ongress Cigar (4).. ‘ousol Film 82N 1011 1% Cansol Textile : ohiainer Corp (A) 1 Baking (A) 1 Baking (B) 11 Baking pf (8) Fostey Radio “ork (2.40). ple Steel ible Steel pf ¢ ba Cane Produ “uba Co ‘uban-Am Sug “uban Damp udany Packing (4). ‘urtie Pul Curiis Pub; rtiss Wright membership of 330.000, gaining in assets during 1930, to a total | of $220,000,000. ¥ W. R. & E. 4x Still Active. y . rons, ‘Washington Railway & Electric 4s| were active today on the Washington Stock Exchange, gclling in some volume at prices rising 93 to 93'. Wash- | Gas 6s turned over at 103. Electric 5' prefe: #old at lll while the eonstruction of the company went after call at 104% | -nl 104';. Real Estate Mortgage it | lu'ntl sold at 105. ,M. ashington clearing house nrum~ “l!. $3,605,168.16. | 52‘, Peoples Sales Gain. 16 "Despite the business d-pression, Peo- | m Drug Stores sales show a gain oh per cent aceording to July reports | blic. July sales increased | " 372,170 in 1930, to $J.454 823/ in 1931, Sales showed a gain of 4.94' p'f mb for the seven months of this | growing from $9.583.654. for the !D” period, to $10,057,014 for the ll)ll Hmphlll Noyes & Cd., members of' the Tk Stock Exchange, with flmm in Shoreham Building, an- | nounce the addision to its stock depart- | mqn of August S¢hmidt and Lawrence | Leehy, both of whom have been | ”mfifltd for some time with the in- | vestment business in Washington. Mr. | Schmidt will be engaged in the statis- tical department as well as the stock department. o Wholesale Prices Drop. ‘The wholesale price index of the Na- | tional Pertilizer Association declined 5 fractional points during the week ' ended August 8. The general index number showed & loss during the pre- ceding week of 8 fractional points. The | Iatest index number is 67.5, & new rec- ord low point. A.week ago the index number was 68.0, & montn ago it was 687, while a year ago it was 86.3. The index number 100 represents the aver- #ge for the three years-1926-1928 The Seaboard Public Service Co. at Alexandria, a subsidiary of National Public Service Corporation, shows con- solidated groes earnings of $15,205,190 | fo~ the 12 months ded June 30, as | compared with $14.526.604 for the cor- | responding peridd a year ago, or & &in of 4.6 per cent Persoual Mention. Joshua Evans, président of the Dis- trict National Bank, has returned from his vacation a. Block Island C. J. Gockeler, vice president of the District National Bank. is spending a month's vacation at Margate City, N J Prederick P. H. Siddons, sécretary of the American Security & Trust Co., i on vacation at Blue Ridge Summit. POTATO MARKET. CHICAGO, August 11 (#) —Potatoes $0: on track, 130: total United States shipments, 310; steady; trading only falr; sacked per hundredweight, Mis- sourl cobblers, 1.15a1.30: few 1.35; poor, 1.00 up; New Jersey. 150-pound sacks, cobblers, 2.60 per sack: Idaho triumphs, | 2.10a2.15; russets, 1.75a2.00, according o size; Virginia barrel cobblers, 2.75a 285, Deered Copr (1403, Del Lack & Wn (4) Denver & RG W pt. . Detrolt Kdison (§) Piamond Mateh (1) Diamond Mich pf 174 Dome Mines (1) Domn Stores (1.20) ) Douglas Air (1%) American %1'1&'1:1 e 1943 1101 1% Drug Corp (4).. itimore & Ohio 4%3s 193 . N Dineet & 1USK Dy Pon 21 Durham Hosiery pf. 6% 118 Fantman Kodah (15) 200 9% Katon Axle (160). .. 69 6% Kitington-Schild pf. 34t Kiec Aute Lite (6) SHORT-TERM SECURITIES. (Reported by J. A W. Sellgman & Co) offer Alls-Chalmers Oa 3¢ 1 Ry fbe 03 e Rock Talkd o5 1954 - r Co. Rio Greude 4125 936 5, Corp. ¢ 1987 3 10 1 1 205 1 " 2 Banes Ynmaawwrng =¥ 1 22 108 l u 1 15 . . Jn 171 1 85 20 2 008 . 159 12 19 17 64 40 6 10% 5 T 48 3 38 : 4 . 187 Ko Blorate Bat (8) ik Horn Coal. Eik Horu Exchanye Bt o1 w ) B0 100 Fed Wi Sve A(L20) re 1n¢ 665 664 Fifestone Tait First Nath 1808 nmmmbmlflum Note—All stocks are in one -share lots excepting those lfl: mu‘--('fi) (2508). Bales Ada 0. migh. Lom. an 13% Prev. Close. Close. A 13% 32 13% 86 27% { ~Prev. 1931, Low. |. Dividend ate. Fisk Rubber. ... Fisk Rubber 18t pf Fisk Rub 1st pf conv Florsheim (A) (13%) Follonsbee Bros. . ... Foster Wheeler (2) ., Fox Film (A) (213), Freeport-Tex (3) 11 Co (5) n Am Tank Car¢ Gen Cigaf (4) Gen Electric (160 Gen Elec spec (#0c) . Gen Food Corp (3) ., n G & Kl A (e60c). n G & Blevpf (5). Gen Mille (3) Gen Motors (3) Gen Motors pf (5) n Public Servie n Ry Signal (5).., Gen Realtv & U1, ., Gen R& Utpf (o). . Gen Refractories (3) n Theatre Fauip. . ifllette Saf Ragor. Glidden Co. .. Glidden Co pr pf (7). Gohel (Adolf). ... Gold Dust (215) .. Goodrich (B F) Goodyear. ... Granby Con Min (1), and 811 8trs (h1). and Union. . Grant (W T) (1) Great Northn pf (5). Great Northn Ore(2) Great Wn Sug pf ( igsby Grunow . Gulf Mobile & 3ulf States Steel, . Hackensack W (155) Hahn Dept Stores. .. Hahn Dpt 8t pf(633) Harh & Walker (1).. Hershey Choc (5)... Hollandar Sons. .. Houdaille Hershe: Houston Ol Houston Ofl ) Howe Sound (2). Hudson Motor (1 Hupp Motors.. Indian Motor Cycle. . indian Refiningft Indust Rayon (4). .. Ingersoll Rand (4) Inspiration Copper Insuranshares Del Interboro Rap Trans intercont] Rubber. . . Interlake Iron (80c) . % In. Agriceniture. L) A7 364 R0% _ 40% 45 25 1, 31 2 R 20 145 11 288 25 17% 18 56 2% 45% 22% 1 8% 19 Rl 1 Tt 17 T 2115 “ 36 16 18% 6% 400 20 0% 4% 24 106% 202 B0 B04, s 1 fls 3% 28 20 58'a 3% 39\ 25% Int Bus Machine(né) Int Carriers,Ltd b0c. Int Cerpent (4).. Int Combustion Int Harvester (214). Int Hydro Fl A (82). int Match pf (4).. nt Merchant Marine . Int Nickel of Can (40 111 Int Nick Can pf ( Int Paper pf (7). Int Paper & Pwr ( Int Pap&Pwr pf (7 Int Salt (3) Int Shoe (3) Int Silver, Int Tel & Te int Dept Stores (2) Intertiype Corp Invesiors Equit Jewel Tea (4)....... Johne-Manville (3) Kan City 8ou (5) <elly-Spring Tire . ey-Hayes Whesl Kelvinator Corp Kendali Co pf (6). Kennecott Copper (1) Kinney (G R) Co. .. Kinney (G R) Co pf. Kresge (8 8) (1.60) Kreuger & T(m1.61). Kroger Grocery (1) Tambert Co () I.ee Rubber & Tir Tehman Corp (3) Lehn & Fink (3). Libbey Owens Liggett & Myprs( & & Myers B ( Lily Tulip Cup(15). Lima Locomot (m?2). Link Belt (2.40). Liquid Carbonic (3 Lorrillard (P) C Lorgillard (P) pt (7) Lowis&Nashville(5). Ludlnm Steel .o ... McKeespt T P (15 %) McKesson & Reb (2) Mack Trucks (4). Macy(RH)& Cot Maoat! Sugar ManhatEley m Marine Midla (1.20) Marmon Motor Car. . Marshall Field 2% ) Mathieson Alkill (2) Melville SLoe (2). .. Mexican Seaboard. Midiand Steel (3) Mid Continent Petm. Minne & Hon Reg (3) Mo Kan & Texas. .. Mo Kan & Tex pf (1) Missouri Pacific. Missouri Pac pf ( Montgou! ather ] Motor. Motor Froduc . Motor Wheel (1).. Mullins Mfg . Mullins Mg pf (7) Munsingwear Inc(2), Marray Corp Nash Motors (4). Nat Acme (80c) Nat Bella Hess .. Nat Bi; 2.80) ... Nat Cash Register A Nat Dairy (2.60).... Nat Dast rod (2) Nat Enam & Stamp. . Nat Pwr & Lt (1)... Nat Steel (2) Nat Suppl) at Snrety ¢ Nat Tea (1).... Netsper Brothers. .. Nevada Copper (1).4, Newport Co{1).. Newton St N'Y Air Brake(1.60). N Y Cantral (6)... . N YRS pf (8) . X ¥ Investors. .. NY N H & Hart (6). N Y Ont & Western. . < ¥ N ¥ Shtpbldg priT N Y Steam 1stpfi?). Noranda Mines. . Norf & Westn (112 Norf & Westa pf (4) North Am Aviation Nor Amer(b10% stk) North Amer pf.(3) " North Am Bd pf (§). Nothern Pacific (5). 20 3 anio O11 Onnibuy ¢ Oppenhm Collins (1) Otis Bievetor (23 ). Owens 111 Glass (2) TAghting (3 Praific Miltx Packard Mo Penick & Ford Penney (1 €) (2405 Penney (JC) pf A (8) Penn Coal & Coke. Penn Dixie Cement. . Penn Rajidond (4).. Peoples GaniChi)(8) Petm Corp of Am(1) Phelps Dodee (1) Philu&Reading & 1 Philip MoteiadCos1) Fhillips-Jones pf ( Phillips Petroleun .. (Continved on Page 14.) Salas Prev Add 00 High. Lov. Close. Close. 3 » L] hed 129 & A% | l'a | 2|!« 2 | o | 1% | | 208, ¥ | Abrupt Reversal ! points and’ others in_proportion. | modification of the Voistead act. | Jeast ex) | longer the bellwether of | Telephone, STOCK PRICES TURN HIGHER SUDDENLY of Trend| Marked by 8 to 10 Point Gains for Best Issues. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, August 11.—Staging an | | abrupt, reversal of form similar to that | | witnessed in the first week of June, today’s stock market advanced buo: antly. The gains in the m;)s-pflcem issues ran to 8 and 10 points The early hours saw further selling | of the rafls. but this time the indus-| trials held up. By noon the industrials | were creeping forward, in the early aft- ernoon they turned strong and in the Iast hour, under a combination of short rovering ‘and new buying. they went ahead at what was for this market a sensational rate. Auburn Auto was up at one time | over 12 points and Allied Chemical over 5 points. Enstman Kodsk jumped 8| P points. -United States Steel,” touching | 80, was only 3 points under the price | at’ which it closed the day before the | dividend was cut. = Railroad stocks | came back, with Atchison up 6 or 7| Just | before the end there was a partial set- | back under realizing. Various explanations were offered for | the recovery. One was that the trade reviews tomorrow . would show steel operations higher. Another was that railroad car loadings had gained on the week, as the statement would show: Still others related to prospects of 8l e | truth of the matter, however, that | the market had been saturated with | gloom, was no longer able to hold oy | more, and, as all speculative n.arkets do, turned suddenly just when During the first hour there was fur- | ther selling of the railway shares and | new lows for ti bear market were reached by New Haven, Ilinois Central and Union Pacific. The talk today was | of & downward revision of New Haven's dividend rate from $6 to $4 or $4.50 annually. The board will not meet | until September 8, although the regular dividend session had been set for the fourth Tuesday in August. Despite its drastic deflation, Tllinois Central still sells on one of the highest appraisals of current earning power of any rallroad stock on the list. Union Pacific was in supply because of its large holdings of stocks of other roads. Atchison made & new low on the move- | ment and Great Northern preferred duplieated its old low, with Pennsyl- vania only a fraction above the low. | Notwithstanding this show of weak- | ness in the rails, the industrials held | firm. It is ing more evident daily that the railroad stocks are no the market. The railroad situation is a thing by itself. separate and aside from the de- pressicn elsewhere, and not much can | be looked for from railrosd stocks until there is a good-sized rally in railway bonds. As to the rate inquiry in Wach- ington, there is no unanimity of opin- fon on the effect of favorable action by the Interstate Commerce Commission, and favorable action is much in doubt. Standard stocks. including American | Consolidated Gas, United | States Steel and American Can, sold | At or above the previous close. Proba- | bilities are that liquidation in this Dln, of the list, of any importance, at least, has been completed. Meanwhile the bear faction is ultra- has been much less short s-lling during this resction than at any time on any major downward turn in months. | Declaration of its quarterly dividend in stock instead of in cash by Para- | mount-Publix was without effect mar- ket-wise. The placing of General Asphalt shares on a $2 annual dividend basis, instead of $3 previously paid, | had also been discounted in the price of the stock. this week are those of Eastman Kodak tomorgow and Union Pacific on Thurs- day. The best' information is that ‘here will be no change in either of these rates. | Commodity price news was not as disturbing as on Monday. In fact, the steadiness in wheat after the Govern- ment's crop report was distinctly re- assuring. An increase in erude ofl out- put was offset by the urgent demand | t‘u,r"‘l\mlme reported from the Middie e SILVER QUOTATIONS. NEW YORK. August 11 (#.—Bar silver steady and unchanged at 27%. TREASURY CERTIFICATES. ried by I, & W. Selieman & Co) 101 232 After 18 years a package of menu cards, some still partly legible, has been | washed ashore at Campbelltown, En- gland, with part of the wreckage of the 26%®Lusitania, the liner which was torpe- | doed nd Aunk off the coast of Irelnnd Two important meetings = Som ziot | o n-mum 10 SPENDING BRGY Head of Buiging -and Loan League of U. S. Says Bill “Charged to Future.” Br the Associated Press. PHTLADILPHIA August 11 —R. oltby Myers of Los Anfelez president of the United States Building and Loan League, today laid the hlIme for- the ~ business ith I bl]! on “a spending crgy.” Wi 3 ‘“‘charged against the future.” He said “a be- | lated dose of common sense in money affairs.” is the only remedy for relief. Myers delivered the address at the opening general sessions of the League in joint convention with the third In- wi orld s | ternational Congress of Building So- mun and Building and Loan Assoc ions. The convention is being held ln connection with the 100th anniver- sary of the founding of the first Build- | lnz -nd Loan Association in Philadel- Hn" fitting and of what hopeful world significance that we are joined in greeting this dawn of a second cen- tury of servioe by our fellow workers from other lands,” said Myers. “It is not an omen of world peace that the citizens of England should travel more than 3.000 miles to join hands with us as we review our first hundred years of development and plan ahead for our second? He declared the fact that Germany. South Africa. England, Scotland and ‘Wales were joined together for a study of the same topic was a subject for consideration by peace tables, By Ve B PURCHASING AGENT HITS PRICE CUTTING, Head of Association Declares: Re- turn of Normal Profits Needed by Country, By the Assoclated Press. Joseph H. Mills, presidént, of the Na- tional Association of Purchasing Agents. scored price-cutting in_answering questionnaire of the United States Chamber of Commerce regarding | methods of stabilizing business and. em- nlnvrgl'nl fi\ “The sooner *price-cutting is enged,” he said, S ey back on a stable foundation of estab- lished values, the better it will be f the i::untg and for all mamnnk.i:- Tes! ‘e purchasing agents w that goods are constantly being ofldnd us at prices below the cost of p ton. Tn our judgment, this is B0t & desirable state of affairs, from _the standpoint of the firm or the Natign.” He added: “Our desire is to see con- ditions prevail where prices are based on production costs. plus a fair and reasonable profit. We are looking for- ward to the time when prices for articles we buy will stiffen and are sat- isfied this will do more than ai ing else to establish solid prosperity for the | country.” TREASURY STATEMENT, ‘Treasury receipts for August 8 were $3.670,785.98, _expenditures $15862. 421.54 balance $182,896,780.06. Customs utious. There | receipts for the month to the close of | business August 8 were $10,574,558.38. FOREIGN EXCKANGE (Quotations furnighed br W B. Hibbs & London, pound Paris. frane Biussels. belga eriin, v suizoraz se 3 Osln. _cro Stockholm, 23 crown Money to Lonn Secured br first 4 Frecailing. Jouph in_ irst und_Second Trast notes Washington Real . Estate. Properties Securing notes are paving curtails, ating ex) 81 aceoumt of"oene? interests W sel $425,000.00 CASH Owmer will deal only mwith prineipals ADDRESS ALL REPLIES TO A. B. C. Room 700, Edmonds Bidg. |INmIMmmlll‘l|lIll’lll|flllllllmII)lmmlmflm’|l||IlIllulmmllflmmmflm‘mllmuflum Money Available for Mortgage Loans HEN you file application with us for a FIRST TRUST LOAN X consideration—an sary delay. will have our very best a report without unneces- _Money will be loaned on apartment house, office building, residential and business properties located in Washington or nearby and Virginia—covering penods of 3, 5 or 10 years—and at Maryland 5%% RANDALL H. HAGNER & COMPANY MORTGAGE Loax CORREsSPONDEwT 1321 Connecticut Ave. Decatur 3600 AL TR LT DRI Complete Investment and Brokerage Service Copy of Owur “Fortnightly Review” Furnished om Request G. M.-P. MURPHY & CoO. Members New York Stock Exchange 1510 H Street “and the sooner business: gets | | Connecticut at K WASHINGTON Telephone National 9600 New York Washington Philadelphia Richmond ‘!’ht Dlyu\n Mme it mm a» m.sgmg into production of the flut amphiblan e ever to be |- constructed entirely of stainless steel, | Enea Bossl, vice president of the Dsy- ton company, announced. F. B. KEECH & COMPANY Members of York Stock Inn-xm = A e v o, | Cotton Auotl-u ?“u mn.m °§ “ l ' l w:neé:mu cnn:!b"ma 5 fi" l * !' %., Nlllon Bremen Cotton hr::l" IAMOO. STOCKS BONDS Fashington St Rew York Curb | New York New COMMODITIES DIRECT PRIVATE WIRES We are equipped to handle promptly orders on the leading exchanges of the world. H CORNER 17TH ST., N. W., WASHINGTON NATIONAL 6245 Chicago Philadelphis Srooklyn Detroit Winnipeg New York Providence PROPERTY MANAGEMENT Apartment House MANAGEMENT MPARTMENT house prop- erties placed under our management enjoy the benefit of our trained experience and with an organization to meet every prbb!m .nd condition that can ‘ mcuamgmcm—mdnlkvig owners of all incidental worries. B. F. SAUL CO. 925 15th St. N.W. Nat'l noo’ MORTGAGE LOANS A Banking Connection With any American Security Office affords a valuable contact with all de- partments of this strong bank and with executives who are capable of inter- preting its broad policies in térms of your individual needs. Every Banking and Trust Service lhh and Penna. Ave. Branches: Central— 7th and Mass. Ave. N.W. Southwest— 7th and E Streets S.W. Capital—8$3,400,000 Northeast— 8th and H Streets N.E. orthwest— 1140 15th Street N.W. Surplus—8§3,400,000 8 ofl'u' our facilities for the placm; of your investment funds . . . for more than forty years the H. L. Rust Company has been making first trust loans on improved properties in the District of Columbia and adjacent Maryland suburbs. Investors have found thenotes SAFE in the abundance of the security — CONVENIENT in their de- nominations—PROFITABLE in the highest interest yield consistent with a conservative investment. 6% FIRST MORTGAGE NOTES H. L. Rust Company 1001 Fifteenth Street National 8100