Evening Star Newspaper, September 16, 1931, Page 13

F BOND SALESLEAD. OND.C. XGHANGE ston Monotype Proves g_ fost Active Stock During beld Today's Session, ¥ BY EDWARD.C. STONE. Gapital Traction bonds led the vol- ume of. trading ;on: the Washington Btogk Exchange today. The mnrket opened with $1,000, $4,000 and $3,000 sales at 78, Other bond: ‘transactions ‘wers small sales in Washington Gas 6s, seties A, at 103 and Potomac Electric Power 6s at 108, Lianston ‘Monotype was the most ac- tive stock, selling off over a point dur- ing the ‘wession. It'opened with 10 shayes selling at 84);. Four more 10- share sale§ folfowed, the last one being made at 83. The other type stock, Mer- genthaler; also appeared on the board, selling to the extent. of 15 shares, ex- divifiend, at 743,. Peoples Drug Stores preferred figured in two light sales dur- ing ;the sestion, both at 100%. ‘Two stock transfers were also record- ed fn Washington Rallway & Eleetric preferred, both at 99',. The ex-divi- dend list now includes Capital Traction, Me\'!?n!hnle& and Emerson's Bromo- Seltzer, but Wwill soon be augmented by the large number of bank issues on which regular dividends have just been declared. Urges Inferiority Complex Ban. Mrs. Anna Tillery Renshaw. who heads her own school of expression, told more than 100 members and guests at the annual dinner of the Women's Cor mittes of Washington Chapter, Ame: can Institute of Banking, at Hotel Roosevelt, that bank women should rid themselves of an inferiority complex. Mrs. Renshaw, who has been studying peychology at the University of Vien: during the Summer, sald that all woi en suffer from this complex and that ‘when women enter business this bogey man is all the more deadly. Women should readjust their attitude toward g:rl:d business environment, she de- She told the women that they are up against emotional odds, adding that this handicap could be removed by respond- i‘rl;x“imperwnllly to the petty jealousies despite ine odds.” She praised the American Institute of ‘Banking as a unit of education helping the individual to attain normality. One's success depends largely, she said, on a hermonjous adjustment to inner and outer conflicts and the proper relation- ship of the individual to the group S Other speakers included Aviiewy O. er ers inclu ul E ickey, dean of aculty, Richard A. educational chairman, and Miss Royce, member of the National Woman's Committee. Miss 8. Winifred People Paying Their Debts. Col. Leonard P. vice president of the Cleveland ., his monthly review declares that individual debts are being rapidly off in this country and he lers this one of the most hopeful developments of the depression CO‘nrlod, Nearly half a . Ayres says, a writer and Pinancial of ‘thou- sands of people are hea burdened with debts that have bee‘:”ll.hlly as- Tecovery starts, says the nker. o Col. Ayres adds that the basic cause of the world's commercial dificulties is the present weakness in commodity rices, gowzm has yet been reached. Three other major difficulties, he says, are the combination of fiscal troubles abroad, the fact that banks here and abroad are still restricting credit rather than expanding it, and the plight of the rail- roads which “now have revenues so riously inadequate that investors are turning away from their securities.” Insurance Leader Coming Here. President David 8. Bethune of District Underwriters’ Association .Lgf nounces that the September meeting will be held at the Carlton Hotel, next ‘Tuesday, with luncheon at 12:30. The guest speaker will be Hendrix Davis of HoAu"mn. Tex. ‘angements were made to have Mr. Davis address the managers’ nczlon‘gn this date but in view of his reputation 23 & speaker it was decided to have a Joint session with the entire association, Mr. Davis is the leading producer of the Aetna Life Insurance Co., as well 85 president of the Life Underwriters' Association in Houston and has a rep- utation in his section of the country ®s a constructive and entertaining *The annual annual convention of the N - &1 Association of Life Under:r‘l"..::l :‘kdu pl.lc;a ]nex]t ;;:ek in Pittsburgh many local urance planning to attend. i Booklet Gives Bank's History. i ‘Waggaman, Brawner & Co., Inc., local investment, bankers, are distributing a | booklet entitled “119 Years With Chat- | ham Phenix,” which gives an interest- | ing history of this leading financial in- stitution. On June 30 it reported capi- | tal of $16.200,000, surplus, $16,446,613, | and deposits of $221,044,181. It has an unbroken dividend record for 66 years, the present rate being $4 per share, or ® yleld of over 7 per cent. Heard in Financial District. Directors of ‘the District National Bank have declared the regular quarter- ly dividend of 2 per cent payable on October 1 to shareholders of record | September 23, Directors of the American Securit; & Trust Co. late yesterday declared th{ usual quarterly dividend of 3 per cent, payable October 10 to stockholders of moz rg E‘epkmbfl' 30. ountjoy, Washington represen- tative of the American ‘Blnkel’nl' As- | sociation, left here last night for Grand Rapids, Mich, to attend the sixth Mid- western Trust Conference, which ‘opens | tb;r,v tomorrow. i ‘nshington clearing house figures | for today: $4,369,070. Sg. e DEMAND FOR HARDWARE IMPROVES MODERATELY | Special Dispatch to The Star. NEW YORK, September 16.—Dur- ing the past week a moderate improve- ment in the current demand for hard- ware and related lines was noted in most of the leading market centers, Hardware Age will say tomorrow in its 'eek‘ly“ mlrk:t Sammary. The mu:& ‘men! largely ascril to an improvs call for leuor’ul oods. The gains are more marked in the New England and Northwest trade territories than in most other sections, nlthough a slightly better demand firevun generally, ‘The first cold spell is l«nhg accelerate the demand for Fall remainder of the year. Stocki 93 INANCIAL Low. Dividend Rate. 314 Abitibl Pwr & Paper, 11% Abitibi Pwr&Pap pt. 7 Alaska Juneau (40e), 5 Albany Wrap Paper. 3% Allegany Corp. 11 Alleg Cp pf 330 ww. 10 Alleg Cp pf w840 w. 24% Allegheny Stl (1.20 951 Allfed Ch&Dye (n8). 121% Allied Ch&Dye pf(7) 8514 Am Can Co (15) 4 143% Am Can Co of (7 19% Am & For Power. 58 Am & For Pwr pf(8), 65% Am & For Pwr pf(7). 34% Am & For Pwr 24 Am Tce Co (3) Am Internation: Am Locomotiv Am Mch & Fdy 1.4 % Am Metal Co. Am Pwr & Lt (21) Am Pwr & Lt of (8). Am P&L! nf A st(5). Am Radiator (§0¢).. Am Republies 15%°Am Rolling Mill 36 Am Safety Razor (§) 15 Am Ship & Com..... 25 Am Shipbuilding (5) 24% Am Smelt Ref (2) 35% Am Snuff (13%).... < 102% Am Snuft pf () 108% 201% 31 208% 108% 28% 99% 205% 5 (323 2T% 8T% 801 66 14% 101 % 1 109% 107 16% 42% s 8% 30 3% 1% 62 1671 Bi% 4% 14 Am Solv & Chemical. r (5)..¢ 96 Am Sugar Ref pf (7) 151% Am Tel & Telex (9) 9814 Am Tobaceo (16). 102% Am Tobacco B (16). 124% Am Tobacco pf (8).. 51 Am Type Fdy (8). 37% Am Water Wk (3)., 37 Am Wat Wks ofs(3)., 92 Am Wat W 1st pf($) 5% Am Woolen Co. 20% Am Woolen Co pf. 3 Am Zinc & Lead . 26 Am Zine & Lead pf.. 18% Anaconda Cop (1%). 18% Anchor Cap (2.40) 8 Archer Danfel Mid. . 82 Armour of Del pf (7) 1% Armour of Ill (A)... 1 Armourof Ill (B)... 10% Armour of Il pf. 5% A 20 115% Atch To&S Fe (10). 100 Atch To&S Fe pf (5). 11% Atlantic Refining (1) 84 Atlas Powder pf (6). 101% Auburn Autoe (£4). 2 Autosalespf.. 3 __Aviation Corp ( 8% Baldwin Locomotive 33% Balto & Ohio (5).... 50 Balto & Ohio pt (§). 39% Bang & Aroos (3%). 5% Barnsdall Corp'n.... 22 BayukCigar (3).... 53'% Beatrice Cream (4).. %).. 15 Brigxs&Stratton(2). 1% Brockway Mot Trk.. 8 Brockway Mot Tr pf. 47 Bklyn-Man Tran (4). 51% Bklyn&Qu: 99 Bklyn Uni 32% Brown Shoe (3) 6 * Brunsw-Balks rm & 19% Burrough A M(f 17 Bush Terminal(2 3 3 61 3 Seditiauuct 5’—‘-; 0 0010 00 7 18 1 . 12 2 100% 1 23 708 108 21 95% Bush Terminal pf(7)¢ 308 1% Butte Co % Butte & Super (A M) 20 Calif Packing (2)... % Callahan Zinc & Ld.. 20 Chicago R I&Pacific. 50 ‘ChiR & Paepf (). 10 ekasha Cotten O11 14 Childs Company Chrysler Corp (1 28 C 743 City Ice&Fuel pf 2 City Stor 22 Colo & Southern (3). 20% Col Gas&Elec (2)... 5% Columb Graph (68¢). 13 Comm Credit (1. 20 Comel Cred pf(1%). 761 Comel Cred 1st(635). 20 Comel Inv Trust (2). 101'% Comel Inv Tr pf 6% . 10% Comel Solvents (1). 6% Comwith&Sou (40c). 87% Comwlith&Sou pf () 6% Congolm-Nairn (1).. 10% Congress Cigar (1 B4 Consol Cgrpr pf & 6415 Consol lenl P 3% Consol Film 10% Consol Film pf (3).. 8114 Consol Gas N ¥ (4 1011 Consol Gas NY pf(§) 1114 Consol Laundries(1) 23 ConbolRwys pf (6).. 1% Consol Textile. . . 2% gnmur Corp (A). 9% Contl Baking (A). 1% Cont] Baking (B). 44% Contl Baking pf (3), y Contl Can (2 Cont Diamond Fibre /81% Cont Insur (2.40)... 1% Contl Motors. 5 Contl Oll (Del). 4% Coty Ine 12% Crex Car, 4'; Croslev 18% Crown Cork (2.4 28 Crown Cork pf (2.70) 2 Crown Zellerback. ., 30% Cruecible § . 2 1 3 13 4“ Founatl CJO - - on e BhanbBunan 8 13% 25 122% 20 9%y 1% 204 % % 25 1% 20% sean F & ey H3 12 10% 31 1% 3% 2% 4 sold in 100-share lots exeopt these designated by Jetter “5." 1~ Btock and Bales— o] Add 00. Migh. u:‘.‘m Onge. + FELEE ¥ G A ] FEEE EEF X ¥ L kE+ ° ¥ i ® F + +1 E3 #SLS 48% 23 157% 102 45% 195 19% 28 28% Btock and Bales Wet. Dividend Rate. Aad 00. Righ. Low. Close. Chye. 3 Cuban Domn Sugar.. 35% Cudahy Packing (4 621% Curtis Publish (4) Cut Wi 7% Davison Chemical. 96 Delawaré & Hud (9). 32 Del Lack & Wn (4).. 11% Denver & RG W pf 140% Detroit Edison (8).. 11 Devoe & Ray A(60c). 14% Diamond Match (1).. 24% Diamond Mtch pf 1% 8% Dome Mines (1). 144 Domn Stores (1.2 611 Drug Corp (4) 71 Dupontde N 107 124% 11715 Du Pont de N pf(6) . 18% 185% 21% 69 T% 110 100 Elec Auto-Lite pf(7) 110: 4% 9% 60% 98% 108% 66 45% 115 4l 98 9% 45% 5 Eastern Roll Mills. . 118 Eastman Kodak (13) 91 Eaton Axle (1.60)... 3514 Eitington-Schild pf. 34% Elec Auto Lite (4)... 2 Electric Boat....... 4% Elec&Musical Instru 30% Elec Pwr & Lt (1)... 80 Elec Pwr & Lt pf(6). 92% Elec Pwr & Lt pf (7) 44 Elec Storage Bat (4), 30 Endicott-Johnson(3) 102 Endicott-John pf (7) 28 Eng Pub Sve (1.60)., 85% Eng Pub Sve pf (8).. 261 Equit Office Bldg 2% 181 Erie RR. 20 Erie RR 1st pf (4 4% Eureka Vac Cleane 3% Evans Auto Prod 10% Fairbanks-Morse. .. Fed Wat Sve A(1.20) Fid Ph Fire In(2.60). 3 Firestone T& R (1). & Firestone T&R pf(6) First Natl Strs (2%) Fisk Rubber........ Florsheims pf (8). 18 Foster Wheeler (1).. 20% Fourth Nat Inv ms5o 10% Fox Film (A) (2%).. 18% Freeport-Tex (3)... —_— s 30 Gamewell Co (3). 50% Gen Am Tank C: 15% Gen Asphalt (2 17% Gen Baking (2) 5 Gen Bron: 27 Gen Cable p: Gen Cigar (4) al 107% Gen Cigar pf (7 3315 Gen Electric (1.60) 11% Gen Elec spec (§0c).. 43 Gen Food Corp (3)..: 3% Gen Gas&El A (e30c) 301 Gen Motors (3).... 95 Gen Motors pf (5). 4 Gen Outdoor Adv.... 8% Gen Outdoor Adv(A) 264 36 s 1 56 364 13 5 15 Gen Preg Ink (2%).. 1008 59% Gen Prtg Ink pf (6) 7% Gen Public Servic 38 Gen Ry Signal (§)... 1% Gen Realty & Util... 24% Gen R & Ut pf (e6).. 29 Gen Refractories (3) 1% Gen Theatre Equip.. 13% Gillette Saf Razor... 53 Gillette Saf R pf (5. Gimbel Broy 71 Goodyear 1st pf (7).. 4% Gotham Silk Hoesiery 1% Gould Coypler. B 2% Graham-Puige. 10 Granby Con Min 10 Grand Sil Strs (h1) 61 Grand-Stores pf 614 10% Grand (Tnion. 25% Grant (WT) (1 27% Great Northn pf(4). 16 Great Northn Ore(2) 7% Great Western Sug.. % 80% Great Wn Sug pf (7) 5% 179% 2% Grigsby Grunow.... 20 Gulf Moblle&Nor pf. 26% Hackensack W (1%) 3% Hahn Dept Stores. .. 43 Hahn Dpt St pf(6%) 13 Howe Sound (2). 28% Hudsen & Man (3 11 Hudson Motor (1). 27% Ilinois Central (4).. 1% Indian Motor Cyele. . 21% Indust Rayon (4)... 74 Ingersoll Rand (4) 36% Inland Steel (2%). 4% Inspiration Copper. . 9 Insuranshares Del A. 65 In Shr(Md) (40¢). 10% Interbero Rap Trans 10% Interbo Rapid T cod. 1% Intercont! Rubber. 5 I lake Iron. 1% In. Agrieulture 117 Int Bus Machine(n$) Carriers,Ltd 50c. 9% Int Combustion pf. 29 Int Ha er (2%) . 16% Int Hydre El A (e2). 83% Int Match pf (4). 5% (nt Mercr.ant Marine, 9% Int Nick of Can(40¢) 18 Int Paperpf......... 81 Int Paper & Pwr (A) 1% Int Paper & PwrC... 28% Int Salt (3) 45% Int Bhoe (3) 18% Int Tel & Tel (1). igw {nt Dept Stores (2) 3% Investor: % ‘s Equity. 31 __ 20 Isiand Greek Coal(4) 5T% 80% 126 128% 45 14 Kansas City Southn. 18 24% 20% 55 2% 36 Jowel Tea (4).....00 40% Johns-Manville (3).. 106 Johns-Manv pf (7).. 111% Jones & Laugh pf(7) 12 K’'mann Dept Stra(1) 10% Kayser (J‘) ‘gl on Kinney (G R) Co. . 23% Kinney (@ R) Co pt 25 Kresge (88) (1.60) 40 ' Kress (SH) Co (j1) 1% gor & Toll 1.61 ll& 18 KrauiercrY(ll, % 146 26% 4% 56% i o 34 Lehigh Valley 243 Lehigh Valley " o Corp ;:) 60% Ligg 18704 Ling & Mye 19 Lily Tulip Cup(1%). 17% Limg Locomot (m2). 18" Liguid Carbonte (3) 118 Loogs-Wiles 1 du Lorr{ilard (P 90% Lorrillard (rl 28 nys'llcawu% % udcnni:r-vum 16 MeGraw Hill (). ... Melntyre Pore M(1), MeKeesport TP (4), 744 MoKenson & Rob(1). %% 211 MackTrucks (2).... (RHJ& Co(n3), 9% Maa'sa gmfn oy 104 Ilavi per at) Sugar pf. ... 1"‘ Manhatidlev mod gtd 1, heasesii, ng h l;“ ::knt St Ry 2d pf. 2.3 @ CE IS T = J=JOreres- o2 19 " 201 - =3 wnaBanAeaanSTonen va fore 1 2 33 10 13 2 327 10s 4 20 3 20s 10 16 2 21 6 28 12 4 2 108 17 1 % 36% 643 2% 3% 108 1184 118% 111% 111% 14 16% 12 12 124 124 - 1% 1% (3 [3 8 814 38% 38% 1415 14% 11% 11% 26 264% 40 44% 4% 3% B 47 A7 12015 120% 14% 4% -1 - - - % 1 FF FESEE Yisiyti s - SRR + 0+ 1 & RERER 128 - 1t FEEEFES FEFIE > EF 33 wrsaEss FEFE £ REETREEE FOEE FIE 22" = Fs 14 — Fes sex ,4 £ ¥ | sbare payable January DECLINE IN STOCK MARKET RESUMES Rail Shares Are Especially Weak in Further Heavy Selling. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, Steptember 16.—Stocks staged a promising rally late in the session .today, but recessions near the close in some of the leaders, such as United States Steel and American Can, caused the market to finish lower for its thirteenth successive session. American Telephone closed virtually unchanged after a robust w at the beginnirig of the final f hour. Meanwhile, General Electric fell to & new low level for the year and J. I Case was in abundant supply. While some of the rails were record- ing fractional recoveries, a small block of Pittsburgh & West Virginia was tossed on market at 18, a decline of 12 points and a new low for 1931. Westinghouse Electric ocontinued its earlier rally and Allis Chalmers tried ta_hold to the 20 level. United States Steel held above 80 until five minutes before the end. when it yielded as several sizable blocks ap- peared. American Can behaved sim- ilarly. Trading hesitated toward midday, when the directors of the Westinghouse Electric were in session. Previously Westinghouse stock had declined frac- tionally belcw its previous minimum price and then advanced several points. The dividend rate was reduced to basis of $2.50 a year from $4 a share. This was better than the street ha anticipated. as it had been discussin the ibility of a complete suspension of tm"nu. The stock rallied several points, but the preferred, whose rate is automatically reduced by the luwurl:s of the common stock dividend, declin about 5 points. ‘There were vague rumors of some important announcement in connec- tion with one of the most distressed groups of railroad securities. This had the effect of stimulating & short cover- ing movement in the, rail-list. Previ- ously ‘new’ l&w Dr‘l‘c:;n hndnbeaxmmh on New 7 ! faned Southern Pacific, Unlon Pacific Atchison declined 315 points, but & rally erased the original loss. The largest gain was in Delaware & Hudson, up about 5 points. Railroad bonds were somewhat steadier. The public utility list, which had been under pressure Tuesday, wavered from time to time, but eventually showed a better tone. There was again quite heavy selling in American Tele- phone, but it had better support than on Tuesday. On the other hand, West- ern Union dipped below 100, which reduced the number of listed common stocks selling above that level to 13. An excellent statement of earnings for August by the Public- Service new low and there was a su] & Foreign Power Dbe- NEW SECURITIES. NEW YORK, Septémber 16 (#).—New gcurmeu offered today include the fol- wing: $40,000,000 State of New York bonds in two issues, 3 per cent to yleld 1.37 to 3.25 per cent and 4 per cent issue to yleld 1.37 to 3.30 per cent, by syndicate headed by Bancamerica-Blair Corpora- tion and International Manhattan Co. $1,434,000 City of Winston-Salem, . C., 4% per cent bonds, pricet. to yleld :mc,wrmnwmumw l{nhnu City Co. METAL MARKET. NEW YORK, September 16 (#)— Copper, easy; electrolytic spot and fu- ture, 7a7%. Tin, easy spot and nearby, 25.12; future, 25, Iron, steady, un- changed. Lead, quiet; spot New York, 4.40; East St. Louls, 4.22. Zinc, quiet; East St. Louis spot and future, 3.75. Antimony, 6.60. SAFETY FIRST Invest Your Surplus Funds in Guaranty First o Mortqnto I Securities Ideal Investments Non-fluctuating investments se- cured on income-producing, servatively appraised properties in the NATION'S CAPITAL. Denominations as low as $100 Monthly Payments if Desired Send jor Booklet, “The Success Plan" | REAL ESTATE MORTGAGE & GUARANTY I CORPORATION | 1610K St. N.W. National 1403 Eastern Utilities ing Corporation The Board of Directors has declared the following quarterly dividends: Participating Preference Steck—$1.75 36 Preferred Steck—$1.50 share payable Deeember 1, 1981, to mkl of mn:, Detober 30, 1931. referred X le Decumber' 1. 0901 o Dorders o [ ro:“'; ::;f:::“lud—ll 2 rier P i 2, o helders record November 30, 1931. T. W. MOFFAT, Treasurer. payi Tecord WE MAKE FIRST TRUST LOANS on IMPROVED REAL ESTATE IN AMOUNTS OP 55 TO sl, ,m IN THE D 8. RHEE DETRIOT OF ODS OF 3, 5 or 10 YRS. Prompt Decisions BOSS and PHELPS OUTLOOK FORECAST . . - FOR LAST QUARTER Spectal Dispateh to The Btar. NEW YORK, September 16.—While considerable basis now exists for the belief that industrial earnings, as com- New York in listing the following indus- tries as having most promising and Most mmnHmm stores, dairy products, package goods, refrigeration, passenger automobiles, automobile tires, beverages, flour and feed, metal containers, shoes. TOBACCO GROWERS REAPING HARVEST Southern Maryland Planters Re- ceive (tood Prices for the Present Crop. By the Associated Press. BALTIMORE, Md., September ‘While grain is burned and stock in the Middle West wers in the South turn to State latures for relief, Southern Mary- land tobacco growers are reaping a harvest of gold. Following a sparse crop of last year's drought season, a_huge yield has been groduced by the five-county area near altimore and Washington and prices are at the highest level in years. First-quality leal has been bringing as high as 55 cents & pound and the verage, including the poor-grade stuff, eld at lgvmumlel 30 cents. These are much higher res than paid in the Carolinas, Virginia, Georgia and Kentucky, the chief producers. The reason is the domestic demand that has developed for Maryland leaf k-burn! tobacco needed in 28 a quicl ing cigarette manufacture. Until the World came princi- ‘War this t; of tobacco pally from {fi Orijent. Maryland tobacco until recent years Money to Loan Secured by first deed on real estate. commission. Joseph 1. Weller gamesicts & Bldg.. 9th & ¥ REAL ESTATE LOANS Made at Low Interest Rates TYLER & EUTHERFORD Avpiicatiors | f.;.' T Iorly, on werr 1 on w 3, 5 or 10 years, o (R 1520 K St. N.W. National 0475 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. 7th and Indiana Ave. N.W. LOANS ON IMPROVED DISTRICT OF COLUMBIA REAL ESTATE SECURITY G6th Serles of Stock Now Open For Subscription James E. cu‘mdly James F. Shes Secretary NATIONAL BANK AND TRUST COMPANY m| 16— fed to live | | Was_eonsidered & third of the current crop.is for e: . Maryland t been found to thrive in but five coun- . Mary's, Calvert, Charles, Princt Georges and Anne Arundel. The grow- ers believe that because of last year's crop is being sheads to the State wa a Baltimore as the 1931 crop is harvested and hauled to bamms to be cured, & process of months. New barns are bein, erected, the first that many ol plantations have put up in decades. $9,000,000 Silk Deal. NEW. YORK, September 18 (#)—A $6,000,000 silk transaction was reported yesterday by E. Gerll & Co. It an- nounced Mr. Yoshimura of Japan had accepted by cable its offer to relieve him of his heavy long position in silk on the Yokohama and Kobe Exchanges. | a large short position as a hedge against their long holdings. In silk exchange circles it was sald that the settlement probably avoided a serious crisis in the Japanese markets. : Equable Co-pe Organized 1879 JOHN JOY EDSON, President Establi DIVIDEND RATE, $4 1700 Eye St. NW. Phenix Bank. It is understood that Gerll & Co. had | rative Bldg. 51st YEAR COMPLETED WALTER 8. PRATT. Jr., Secrelary Subscription for the 101st Issue of Stock Being Received Consult Us if You Want a Loan on Real Estate or to Take Up a First Mortgage Those who desire to borrow money to pur- .chase a home, refinance present indebtedness or improve property should see us. will receive prompt and courteous attention. Loans Repayable Monthly No Brokerage . . . No Commissions 915 F ST. N.W. We Recommend for Investment Chatham Phenx National Bank & Trust Co, | (New York City) Send me, without obligation, bookle on D. C. property at €% in- terest . . . no ecommissions charked . ... no renewals. Ask us about our Loan Plan. . . . Open Daily 9 to § Saturdays Until Noon NAtional 1381 NINTH ‘ST, IPERVISION OF Ass’n Applications ed in 1812, Chatham Phenix haa -attained nation-wide as one of America’s leading banks, recognition UNBROKEN DJVIDEND.RECORD, SINCE 1865 PRESENT MARKET, 47 in the year of “OLD IRONSIDES” Famous Victory | Eetabliskied in 1812, Chatharn Phenix hias grown ' in strength md‘repuu.fion through 119 years of commercial banking. Always progressive, it was first among the national banks in New York to-establish a city-' wide system of branches . . . first also to combine “Trust Company” with “National Bank” in its For more than a century Chatham Phenix has maintained a complete banking service in step with the ever expanding requirements of the business of the nation, Main Office: 149 Broadway, New York City * Capital, Surplus and Undivided Profits over $30,000,000 CHATHAM PHENIX