Evening Star Newspaper, September 24, 1931, Page 13

s put a severe reyenues of the Electric Co, in led with lon today. Op- for the month ‘Of $34.460.86, compared in 1830, although ~the. same. period. E‘m had an. increase of. about | ! amobunt total net income, i of certain: ecoromies and a e A b R k1 el months o m year -the company. also has [ t gain in net earnings. st to- yenues for - Augu med l .xm‘z& .nlm t«:s:s 22 a the un Amounted.t $309,07516, req with am eom ared witl $403,480:86 in the corresponding period last -year. Dedmt!en of che operating operating income of $19,- ipared with $19,173.26, prac- tically no difference in the months.un- der review. Non-operating income in August of this year was $414,946.11, against $381.- 804.47 last year; gross income, less op- erating expenses and taxes, totaled $434,072.91, in comparison with $400.- 977.73. Deductions from gross called for $54,022.17. against $55.572.36 in| August 1930, After all other deductions the ecompany reported a net income for the month of $380.050.74. compared | with $345,405.37 a year ago, or an in- crease of $34,645.37. Eight Months' Income Noted. | The Washington Railway & Electric filed returns for the first eight Operating reve- nues totaled $3.596,987.60,. compared with . $3,646,170.80 a year ago; oper- ufln,’ expenses and taxes were $3,019.- 881 in comparison with $3,114,158.77, Jeaving an operating income of $577,- 10087, against $532.012.03 last year. Non-operating income in the eight- month period totaled $1,359.045.34, com- pared with $1,252,748.50. After all other deductions the street car company had & net income of $1.499,396.12, in com- parison with $1,330,022.82 in the same Perlod in 1930. This is a gain so far his year of $160,373.20 over the like 1930 lod. - 'S l'!m oh the month of Au- ne perhaps tite most inter- esting, fn\lorln; a8 it does the August report. of the Capital Traction Co. that $ered acverdly Tn Bperaring cetoms. foomn er y ng returns from the low priced hmnpetnhn. Potomae Power Also Reports. The August_earnings Eldctric Power Co. were also reported to the Publie Utilities Commission today. | of $32,933.88. Bevemu! deductions -required $450,- 872,93, against $443,482.78, a cut in operating expenses of 87, ,:lo 15. Net operating revenues were ,573.34, udnn $366,029.61 a year l‘fl an in- crease of $25,543.73. Miscellaneous income fihfl $13,. 84 in"Au- of $13,208.71. 200,11, compared with $26, 1930, a dec ross income for the month reached the sum of $404.77: red with the | ofummmc[ 'NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. 6% 2214 it 2§ a5% 1% 3% 124% 108% 1200 76% 16245 140 8% . 9N 86 40 434 6% 13815 100 424 29 % s 1 A M4 13 91% 4R 87 29 Bl 514 2!“" 101% 3.45, ,438.45, a gain of 812,335, uctlnu 80’ nfill"l a dll- ference o{( $12.772.92, Jeaving for t-Months Earnings, }lnt'm)i( mu;h- last year, or ¥ lnmn ‘of 077!?1 u Secretary jon announces that the will sell $100,000.000 in Treas- ury bilis the highest . bidder on Se| ber 28. dated September 30, to m: the sale will 30. The proceeds of used to retire $100,- 076000 of bills which fall due on her a,. the Treasury on Septem- ber; lfl W $1.100,000,000, which o retire $634,000,000 maturing | ce Senl & gebicdriesn, 1o pey $30,000,000 Inwut on the public debt an provide funds to operate the Gov- ent until December 15. e financing, however, did not pro- | funds to meet. maturing bills which | Rago been /U4E-Dy: the Goverriment at | the rate of about: $50.00,000 weekly frof July 1 |o September 1 to raise needed in urryinz on the work ‘\ 7% Avistion Gars. WD Baldwin Locomotive llel 7% 81 Balto &Ohlo (5)....26815s 38% 2 Sfi\s M #6% P llBh ”'4 111 64 1% 80% 6413 261 147 46%. 29 0% 32% 9474 2. 8 43 20 3 [ 761 434 30% 1% 86 22% 8K 24% 10 514 1 695 391 941 T9% 845, B1% 129% 94 118% 117% 15 4w 3 5% ] 2% 9% 81s %) e Governmen ashington clur!n( house figures for | My $3,642,755 © Another Active Local Market. | Phe Washington Stock Exchange en. joyed another active trading session | todey, three banks stocks being among | the issues changing hands. | Ten shares of TFederal-American | Ne#fonal Bank & Trust Co. changed | hafds at 45 ex-dividend, Two shares of Riggs National sold today at 370, the price as recorded in other recent s ‘en shares of Security Savings | & mercial Bank stock moved at | 435, the same as yesterday's price, Barber & Ross 6':s moved at 78 for » 81,000 bond, and $500 Washin Gas 6s, series A, came out at 1025 Waghington Rallway & Electric 45 sold - Mergenthaler was 72 National Morm:‘e & Investment pre- ferred changed hands at 4%, at 4 Peoples Drug _ Stores Potomac Electric Power and Columblia, Sand & Oravel and Washington Rail- & Electric preferred was other ssoies that sold during the session. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & czi;" n- ‘ % .'X- 943 1 ‘vly Co. 65 1936 c ll‘nlfi“ i 35 west el k 33 ex-dividend. | Four bundred and fifty-five shares o(' and 90, preferred. | 215 an 15 Mearly-every auto truck in Guate- _ mala this year is American. 7615 Comel Cred 181(61) 1714 Comel Inv Trust (2) 9915 Comel Inv Trpf 6% . ki 9% Comel Solvents (1) . 4% Comwlth&Sou (40c) . 77 30 fl( Congolm-Nairn (1).. Z’M. Consol Cigars (5) “ 4 Allis Chalmers (), . 4 Amerada Corp 4 Am Tobacco pt (6).. lmn-u‘ by letter A uluh uw - Aflams BXp pf (5). .o Adams Milis (2)i... - Addressograph(1). . Adv mley, alr .aucnmmcss) Airway Eloe Appl. .. . Alas ADeg Cp ph 8 Alleg Cp pf x33Q w. . Allegheny Steel 60c. . Allianca Reaity (3). . Allied Cl e (88) . Alpha Port Cemt (1) 12)... Am Agri Chem{Del), Am Bank Note (13). Am Bank Notepf (3) m)a Am Beet Sugar Am Brake Shoe(2.40.x A Am Brake 8h pf (1) x 308" 108% Am Can Co (15). 2 Ami Can Co of (7). Am Car & Fdry ¢1).. ,\m(nr&l’d’»{l") Am Chain 5 Am Chicle (43)4k.s. Am Colortype. .. Am Comel Aleohb, Am Encaustic Tilng Am Firopean Secur. s Am & Fof Power. .., Am'& For Pwr pf(6) Am & For Pwr 2d pf. Am Haw StUship (1). Am Hide & Leather. Am Hide & Leath pf. Am Tlome Prod 4.20.. Am lce (2). Am Ice pf (8) Am International. ... Am Locomotive (1). Am Mch & Fdy 1.40., Am Metal Co.’. .. Am Natural Gas pf.. Am News (13%4).... Am Pwr & Lt (11 Am Pwr & Lt of ( Am Pwr&Ltpf A(4), Am P&LUPEA $1(5), Am Radiator (60¢) Am Republics Am Rolling Mills, Am Safety Razor ( Am Ship & Com Am Shipbuilding Am Smeit Ref (2)... Am Sm & Refpf (7). Am Snuff (13%). Am Soly & Chemica Am Solv & Chem pf Am Steel Found (1) Am Steel Fdry pf(7). Am Stores (12%) Am Sugar Ref (5)... Am Sugar Ref pf (7) Am Sumatra Tob. ... Am Tel & Telex (9) Am Tobacco (16) Am Tobacco B (16) 508 ?m thy 1 2 3 3 508 2 278 2! 0 101 L 1 1 9! # & 4% 9 | 1 3 1 7 47 " 5 5 7 1 3 3 1 6 24 1 108 b 1'45'1 —~8% = R - 128 - Am Woolen Co. Am Woolen Co p! Am Writ Paper pf. Am Zine & Lead. . Anaconda Cop (1 Anchor Cap (2.40). Archer Daniel Mid. . Armour of Del pf (1) Armour of 11l (A) Armour of Tl (B) Armour of 11l pf. Associated Apparel AssoDry G (2%). ... Asgo Dry G 2d pf(T). Atch To&S Fe (10).. Atch To&S Fe pf (5). At Coast Line ¢f)... Atlantic Refining (1) ‘G'Ifil Powder (4) Atlas Stores (1) Auburn Auto (3 Austin Nichols. Autosales. T 12% 30 5l 6 40 208 108% 30s 30 22 ‘Balto.& Ohio pt (4) “Bang: bAd’b- (3%).. B-nlh Ar6os pf (7). £pf (612) p'n. .35 Beatrice Créam (4). “99 Beatrice Crm pf(7).. « Belding-! BelgN R ptpf 14812 Bendix Avistion (1). Best &Co (2), Bethlehem Stee) (2). Bethlehem Stl pt (1) Blaw-Knox (1)..... Bohn Alumn (13)... Booth Fisheries Borden Co (k3). Borg Warner (1). Boston & Maine RR. Briggs Mg (11%).. Briges&Stratton(2). Brockway Mot Trk. ; Bklyn-Man Tran (4). Bklyn-Man Tr pf (6) BKlyn&Queens pf(5) Bkiyn Union Gas (5) Brown Shoe pf (7).. Brunsw-Balks. Bruns Term & Rw; gEway Bulova Wate c Burrough A M(11%) Bush Terminal(2%). Butte Copper & Zinc. Butte & Superior. . oy Callahan 7Inc&Ld Calumet & Arizona Calumet & Hecla. Camp W&C Fdy (1) ‘anada Dry G A (3). ‘anadian Pacific 1% Capital Admin (A) Caterpiliar Trac( Cavanauszh-Dobbs. .. Celanese Corp. Celotex vicctls Celotex pf Cent Aguirre (13) Cent KRof N.J (8) Cehtury Rib Mills Century Rib M pf(7) erro de Pasco (1).. Certain-1eed Prod hecker Cab Mrfg. 108 123 3 5 Ches & Ohio (2%4) Chesapeake Chi Great Western. , Chi Great Westn pf. Chi Mil StP & Pac “hi Mil StP & Pac Chi & Northwest (4). Chi Pneu Tool Chi Pneu Too! o R 1&Pa Wi R 1 & Pacpf (6). i 12§ & Pacpf (7). i Yellow Cab (3).. 4108 14 City Ice&Fuel (3.60) City lee&Fuel pf 6% City Stores. . . ity Stores (A) Cluett-Peabody (3). X ola (17%).... Pal-P(2). alm-P pf (6). Colling & Aikman. .. Colontal Beacon. Colo Fuel & lron. Colo & Southern (3). Col Gas&Elec (2)... Col Gas&El pt A (8). Columb Graph (56c) . Columb Carbon (5).. Comm Credit (1.60). Comel Credit A (3).. Comel 108 3 1R a0 16 3 808 . 1008 408 27 2008 4 235 391 Comwlth&Sou pf (§) 3 Conde Naxt Puh.(2).. 1 20 Comm Inv cvpfies) ., Congress Cigar (1) ‘onsol Cgr pr pf 6 205 ‘onsol Cizars pt (7). 10s 3% Consol Fiim 9% Consol Filin pf (2 72 10175 Consol Gax NY 1014 Consol u.umm;» 421 20 ConsolRwyspf &8)., Consol Gas N Y (4) ¥ lll'l'n llfl% 1 5w 1 U T ~193’ High. 1% 48% 118% 5% 815 1uz 107 41 23 157% lll’& 185% 217 69 T4% - Stock and Low. _ Dividend Rate. 14 Consol Textild...... 214 Container Corp (A). 4 Container Corp (B) 5% Contl Baking (A). 4 Contl Baking (B). 447 Contl Baking pf (8). 3R% Contl Can (2%)..... 514 Cont Diamond Fibre. 24% Cont Insur (2.40). 1% Contl Motors 5 Contl Oil (Del 1% Cont] Shares. 4414 Corn Products 140% Corn Prod pf (7). 4 Cream of Wheat 12 Crex Carpet. Crosley Radio Crown Cork (2.40).. Crucible Steel...... Cruoible Steel pf (7) Cuba Cane Products Cuban-Am Sugar. Cudahy Packing (4). Curtis Publish (4). . 100 Curtis Publish pf (7) 1% Curtiss Wright. . e 3 Curtis Wright (A).. 95% Cushmans pf (7). 85 Cushmans pf (8). 1215 Cutler Hammer. . 20 1% 314 184 30% 65 % 2% 38% 60 v Davison Chemical. .. 96 Delaware & Hud (9). 2015 Del Lack & Wn (4).. 133% Detroit Kdison (8).. Diamond Match (1). Diamond Mtch pf 1% Dome Mines (1)..... Domn Stores (1.20) .. Doug Afrcraft(1%) Drug Corp (4). Dupian Silk (1). Dupont de Nem (4).. 7 116 Du Pont de N pf(6) . 11 tington-Sehild pf . ec Auto Lite (4). Electric Boat. 215 Blec&Musical instri ec Pwr & Lt (1). ec Pwr & Lt pf(6) . 141 Kxchange Buff (115) Fairbanks-Morse. .. Fed Lt &Tr ($1%).. Fed Wat Sve A(1.20) Fed Dept Strs (25c). Fid Ph Fire In(2.60). Filenes Sons (25¢). . Filene's Sons pf 61 .. Firestone T& R (1). Firestone T&R pf(6) First Natl Strs (2%) Fisk Rubber. ... Follonsbee Bros Food Machinery 1%. Foster Wheeler (1).. Foundation Co. .. Fourth Nat Inv mb5c Fox Film (A) (2% Franklin Smn X'HH. Freeport-Tex (3) . 27% Gamewell Co (3) 2% Gen Am Investors... 4714 Gen Am Tank Car(4) 11 ‘Gen Asphalt (2)..... 16% Gen Baking (2). 4% Gen Bronze 3% Gen Cable. 291s Gen Cigar (4). Y% 107% Gen Cigar pf (7) 291 Gen Electric (1.6 11' Gen Elec spec (6c 39% Gen Food Corp (3).. 3 Gen Gas&Rl A (edlc) 35 Gen Mills (3)... 96 Gen Mills pf (6) 274 Gen Motors (3). 95 Gen Motors pf (5) ien Outdoor Adv. n Prig Ink (2%).. 4% Gen Public Service. . 32 Gen Ry Signal (5)... 1% Gen Rea Util. 23% Gen R & Utpf (e6).. 28 Gen Refractories (3) 1% Gen Theatre Equip. . "10 Gillette Saf Razor 51 ~Gillatte 8af R pf ( 315 Gimbel Bro; 7 ‘GliddenCo..... 4 Gobel (Adolf). 63 Goodyear st pf (7). 4% Gotham Silk Hosiery 2 Graham-Paige...... 8% Granby Con Min (1). 6% Grand Sl §trs (h1).. 10% Grand (Inion. .. 345 Grand Union pf (3). 25% Grant (WT) (1).... 25 Great Northn pf(4). 14 Great Northn Ore(2) 613 Great Western Sug.. 2 Grigsby Grunow.... 64 1 _10% Gulf Mobile & N; 13% ) 4% 86 7 1% 6% 29% b5 27% 3 i ba% 126 21% " W14 Hahn Dept Stores. .. 41 Hahn Dpt St pf(6%) 231 Harb & Walker (1).. 1 Hartman Corp (B).. 1% Hayes Body Corp. .. 39% Hercules Powder(3). 111 Hercules Pow pf (7) 77 Hershey Choc (5)... Hershey Choc pf (15) 2% Hoe (R) &C0....... 1814 Holland Furn (12%) 5% Hollander Sons..... 81 Homestake Min (f8). 4 Houdaille Hershey. . & Household Fin (4.20) Houston Ofl. Houston O{] ¢ Howe Sound (2) 27 Hudson & Man ( 10 . Hudson Motor (1) 4__Hupp Motors. . 26 1linois Central (4).. 1% Indian Moter Cycle. . 2113 Indust Rayon (4). 33 Inland Steel (2%) ... 414 Inspiration Copper. . 7' Insuranshares Del A 43 Insur Shr(Md)(40c). 9 Interboro Rap Trans 5 InterlakeIron.. 1% In. Agriculture 5 b s Int Harvester (2%). 115 Int Harvester pf (7). 15t Int Hydro El A (e2). 29 Int Match pf (4) 4% (nt Merchant Marine 8% Int Nick of Can(40¢) 111 Int Nick Can pf (7).. 1% Int Paper & Pwr (B) 1'4 Int Paper & Pwr C 7 Int Printing Ink 4% Int Rys Cent Am 27% Int Salt (3).. 44 IntShoe (3)... 15% Int Tel & Tel (1).... 11% Iot Dept Stores (2).. 10 __Intertype (4 ny Sou pf (4). K'mann Dept Strs(1} 114 Kelly-Spring Tire. .. 5% Kelly-Spr T 8% pf 4 Kelsey-Hayes Wheel 6 Kelvinator Corp. 20 Kendall Co pf (6). 101 Kennecott Copper (1) 4% Kresge Dept Stores. 25 Kresge (8 8) (1.60). 34 Kress (SH)Co (j1). 8% Kreuger & Toll 1.61). R Kroser Grocery (1), 5a% Lambert Co (8). ment 214 Lehigh Valtey Coal.. 22% Lehigh Valley R R Lehman Corp (3). Lehn & Fink (3). Libbey Owens Glass. Liggeit & Myers(15) (16) 135 Ligg & Myers pf (7). 16% Lily Tulip Cup(1%). 15 Lima Locomot (m2). 164 Liquid Carbonic (3). 864 Loew’s Inc (3).. 83 Loew’s Inc pf (l%). 2% LoftIne...... 40% Loose-Wiles (13). ... 118 Loose-Wile= 1st (7). 10% Lorrillard (P) Co... 1% Louisians Oil....... Saies— E Net. | i m. Close. Chge. 9 — Zh' 15 29 50s 275 1008 107 IMI 141 4 2% 1‘( 140% 140% 5 21% lm 19‘& - (Continued on Page 1) 5'6 44 4% 21 1% 4 19% 13% ~2% 4 1615 4% - - % 1% 5814 - 48% - 21 1" 70 L1% Zi'i 4 4 &l -IM 1% = 4% -+ M 21% —1% oY - B | 1 % s '_‘2:; | to a favorable: decision by the Interstate H "‘" = |{ANACONDA COPPER OMITS | o — -.‘ 274 —1% 3335 41 T - % A = - 1% 281 - 441y 17 —1% 183% - % 10% 399 - 10415 3% 2 D. C, THURSDAY, SEPTEMBER ISTOCK GAINS LOST | IN TRADING TODAY Reaction Brings New Low! Marks in Several Impor- tant Issues. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 24 —With- out any adequate reason in the news, today's stock market revérsed itself, canceling ‘all of the gain of the day ! ?bzlore. and reacting nearly as violently as it had previously advanced. New lows were reached in a number of im- portant stocks, including, among others, North America, Du Pont and American Can, | Of course, the street heard many rumors. One concerned a possible ad- vance in the rediscount rate at the New York Federal Reserve Bank. was firmer and bill rates advanced, but [that was no satisfactory explahation |for the weakness. Another story was | that- there had been new unfavorable developments abroad, but that did not | Jibe with the strength in the foreign | markets, although trading in Europe ceased before the market turned so weak on this side. ' Undoubtedly there was large scale short selling and undoubtedly it caught | the market in a weakened position after Wednesday's rise. Much of the | selling originated on the fidor, but | there was also_heavy liquidation, Just before the close was announced that the Reading Co. had déclared the regular quarterly $1 dividend on the common stock. Before the announce- ment the shares had been quoted at 50, down 15 points on the day. Read- ing rallied shurply after the news was out. but the utilities clused around the WOrst, Forelgn Markets Strong. The foreign markets were strong as a rule, but they were not a factor in today's trading on this side. Sterling exchange dropped under the $4 mark early in the day, Silver was active but lower, During the morning it was announced that the Anaconda Copper dividend had been cmitted due to “continued lack of demand for the metals and metal « | products of the company and the ex Immely low prices prevailing,” 2s the official statement put it. The stock made a new low under $16 a share. Two years ago it was paying 7 per cent and touched a high of $140 per share. | The reaction in the rails was larger | than that in the industrials, doubtless because the former had experienced thel | larger rise. In the higher priced-issues | it came near cancelling all of the pre- vious gain. For instance, Atchison ! | around noon, selling under 117, was off over 7 points, whereas Wednesday's ad- vance had been only a fraction over 10 points. Similarly, Union Pacific lost | &bout half the ground gllned Other ralls declined in proportion. The ani- /.,mlled buying of Northern Pacific, | which followed news of the declaration of the 75-cent dividend which inci- dentally was not called a quarterly dis- | bursement, dried up and the stock 1 sold off. The Street continued to look forward % % | 1. Commerce Commission on the pending - 1, Tate lgn“cfltlnn It continued to be- (lieve that some downward wage read- | Justment _must. eventually come, and | | such support as the railroad stocks re- 1 ceived came from those who held one {or the pther or both of thése theories. | DIVIDEND ON COMMON; NEW YORK, September 24 (#). Anncondl\ Ccpper Mining omits o Lackawanna & Western ! Railroad, 50 cents dividend: paid $1 ,'ln previous two quarters and $1.50 | quarterly prior thereto. INVESTMENT TRUSTS NEW YORK, September 24 (#).— | Over-the-counter market: | 2 A BC Tr Shrs n}g.. i 6 | 5% | vest . Chartered Inv p! | Ehelsea Exchange A ‘Shehcl 5 | 7ac % | | % | M Yo+ Sesned wuaamrafas aBasmsanagassBnad. _aEama 2 % 24, 1931. Everybody’s Business The Spectacle of Rising Prices in a Free Securi- tics Market Gives Rise to the Hope That Better Business Is on the Way. BY DR. MAX WINKLER. Special Dispatch to The Star. NEW YORK, September 24.—Open- ing of the London Stock Exchange, with quotations either fifm or appreciably higher; a marked advance in Paris, the reopening of the Brussels and Amsterdam markets, a substantial rise in commodities, notably cotton, and the favarable reception accorded in | Wall Street to. the wage cut by the Steel Corporation, had & most salutary | effect upon the New York securities market. The almost spectacular advance in railroad shares was attributed partly to belief that a’favorable decision may | be handed down soon in regard to the increase in. freight rates and partly to the fact that many shares had reached | absurdly low - levels, Which invited genuine buying on & rather large scale. The improvement in prices in gen- eral is the more significant because of the announcement by the Stock Ex- change that the recent ruling pro- hibiting short selling had been re- scinded. Rising prices cannot, therefore, be attributed entirel ods, but took place, ®0 & 'very ap- preclable extent, in & free market. To be sure. fundamentals have not under- | gone any material change as yet, so that the impressive improvement in prices may not be warranted entirely by Improvement in business. It 45, however, not impossiblc that better business conditions will follow, rather than precede, better sentiment and that we may well have a case of the tail wagging the dog. rather than one of the dog wagging the tail. Giannini’s Career, The meteoric rise of Amadeo Giannini from office boy in & wholesale commis- sion house in San Francisco at the age of 12 to the head of one of the world's largest financial institutions, with rami- fications in the United States from Maine to California and abroad as well, seems to have come to an end. It was in the course of the panic of 1907 that Mr. Giannini attracted Na- tion-wide attention by the offering of his establishment to pay gold, while cther institutions were forced to sus- pend payments. And it is in the course of another panic, almost & quarter of & century later, that he is obliged to step out. The management of Transamerica great boom some three years ago, will hence!urth be in the hands of Lee, Hig- ginson & Co., and control is expected lo be relinquished of its banking af- iates. According to Elisha Walker, who re- Wage Reduction. Careful analysis of the 10 per cent wage reduction reveals that, based upon purchasing power of the dollar—and the dollar a$ such has no significance except for what it cam buy—the em- ployes of the Steel Corporation are still substantially ahead of 1926. It is obvious that with the industry in the thrces of depression and with profits showing a shrinkage despit> savings and eccnomies maintenance of wages at a tcale maintained during a boom period is economically unsound. The fact that the steel management has adhered to It so long is probably attributable to the feeling \\hlcn the board may have had to the effect that business would change fcr the better Authorized Service Link Belt Chains & Norma Bearings MILLER-DUDLEY CO. 1716 14th St. N.W. Y North 1583-4 ) LOANS Is Your 1st, 2nd or Srd Trust Due? oney MR. F ""EDMA 5 SHOREHAM BUILDING 15th Street at H For Tenants of Character ht. cheerful. quiet. modern offices planned to meet individual re- quirements at reasonable rentals One_exceptionally fine suite able. best location in buildin; mabogany pancled _private Tdeal for large Law Firm or Inv ment Bankers. Now occupied but can be shown. Present tenant tak- SAT other auarters ‘in bullding. McKeever & Goss, Inc., Agent Suite 520—Shoreham Bldg. Phone NAL. 4750 val ~ Money to Loan Secured by first deed of trust on real estate. Puurlnl l-men n.a commi Josepll Weller #4725 & Tt First Mortgage Loan App]ications Invited at 5/5% Glover & Flather 1508 H St. N.W. National 1753 Established 1888 HARRIMAN & Co. Mgmbers New York Stock Exchange New York Curb Exchange Washington Office 729 Fifteenth St. N.W. G. BOWIE CHIPMAN, Resident Partner We Buy and Sell Securities On Commission Basis Only Odd Lots Purchases and sales will be charged only the regular commission of the Exchange upon which the orders are_executed, with ‘a’minimum com- mission chargeiof $1,00 on New York Stoek Ex@hns securities and $2.00 onNew York Cu ties. MAIN OFFICE 111 Broidway, New York v || ta artificial® meth- | 1| b Exch-nge securi- { FINANCIAL. ™ with the beginning of tha Fall seasor. !smeo the much Agtumn re- vml did- not mate: Siee. the Siec! comp y did whn any ably managed enter- mne would be obliged 10 do under the elrwlhx\tneel. © ‘Soviet “Wage m i Without suitable c:mment, the Mos- increase in wages of Russian workers has no s nce. Soviet Russia is putting through a wage “increase” at the very time when so-cailed tipl(ll- istic countries are endeavoring to make ends met by uniform deflation in all branches, including, of course, salaries | and wages. It may be recalled that in Germany, at the time when the mark was being | urned out in enormous quantities, wages of German workers .were also vanced.” In fact, the “rise” was very | much more pronounmd than the above | 30 per cent put through by Moscow. We | are as little impressed. with Moscow's | new challenge as we were with Ger- many’s wi “increases” in the dli‘l of the rapid deterioration of the marl The “advance” would perhaps mean something if accompanied by a state- | ment as to what the purchasing power of Russia’s currency is today. It will, | rin all likelihood, be discovered that the b“me" is not a rise at all, if account is taken of what the Russian ruble can buy. | Weakness in Bonds. bond issues is arrestin securities backed by didavian countries, Holland and Swit- zerland, whose external credit has al- ways ranked highest, recede sharply it is apparent that declines are entirely unwarranted. It is because of this fact attention. When RANDALL H. HHAGN MORTGAG! cow dispatch relative to a 30 per cent | “ad= | Weakness in some of the highest class | ance, the Scan- | NVITE us to mnegotiate LOAN you want—and have the advantage of our facilities and resources. considered for loans (new or refinancing) on apart- ment houses, office buildings, residences or business properties, located in Washingten or nearby Maryland and Virginia—for3, § or 10 year periods, and at the low rate of ¥¥¥ A—13 ing, which has in nce of late and which resulted, for e)' mple, in a Norweglan rnmant s per cent dollar loan selling higher {than 6s, or In Danish 6s selling at the same figure as a 5'; per cent issue. In the so-called second class division. the | anomalies are even more striking. ‘ Bank Position Strong. Conditions in the Unitad States are | better than most le realize or ad- | mit, in the opinion of Edward D. Decker, president of the Northwest Bancorpo- 1ation of Minneapolis, adding that the position of the leading banks in the ninth Federal district is very stronmg. | Many of them, continues Mr. Decker, ihave enormous amounts of cash and ‘Government bonds on hand, (Copyright. 1031, by the North American | Newsbaber Allindcs, Ing.) ] A G COHHODITY PRICES GAIN. | By the Associated Press. Wholessle commodity prices showéd an advance of one fractional potnt last | week as their trend was measured by Hhe Commerce Degpartment. In the averages that follow the index is flven {for comparable periods, based on | resenting 1926 prices &% 100, 1n addi- tion, the selling price of a ton of com- posite steel products is given for like Steel. $31.03 31.04 32.64 | : Al 1 Comodities. | Week ended Sept. . 690 | Previous week . 689 Same week last . 336 *nIlmlllnmlmfilmlflflllnmlmlilHMIIHWHMMW'MIHMH"IWIHMM * Money Available for Mortgage Loans that FIRST TRUST Applications will be 5%% NER & COMPANY 2 LoAax CORREsSPONDENT 1321 Connecticut Ave. Traveler's Checks Decatur 3600 i *umunmmmummum|lmmumumunnnmnnnmmmmmmmmnmmmm* g Interest Paid On Savings —ta; the t|mcM\ hen aclf\c husme:# pur<m(s can be Tai Trirst arra retirement fiConsujt Our Tnut ment, w ithe “aside, and more lefsure emov A Veldntary thi \eter’{\ bank, permits enever desired. fficer, at m uonv;flmc‘—- % vt on > pard. 15th Street. Oppoane U\. S. Treasu OPDEST%MQ}W’ Bank in t’le‘putfl'd of 3 PROPERTY Xpartment House 925 15th St. N.W. MANAGEMENT MORTGAGE modern “homes. to “rent t6' réliable tenants. 1f your property is well located and in good con: dition, we shall be glad to submit it for the consideration of such applicants as its size, Nl!ill,:fl:.? will appeal. ‘B. F. SAUL CO. ‘Nat'l 2100 | LOANS first trust loans on 8 offer our facilities - for the placmg of your investment - funds . . . for more.than forty years the H. L. Rust Company has been making in the District of Golumbia and adjacent Maryland suburbs. Investors have found the notes SAFE in the abundance of the. security — CONVENIENT in their de- nominations~PROFITABLE in the ..\highest interest yield consistent with a g conservative investment. improved properties H L Rfist Company; 1001 mu&neh Street