Evening Star Newspaper, October 14, 1931, Page 15

CURB ISSUES MOVE [N NARROW RANGE Market Shows Wavering Tendency—Motors Strong, Other Gicups Irregular. BY JOHN A. CRONE. sateh to The Star. NEW YORK, October 14.—After opening irregularly lower, the Curb Exchange today rallied slightly during ¢ hour, but slipped toward lower ound midday. . Elcctric Bond & Share was off a small fraction as a result of this series of moiement, as were Cities Service and Standard Oil of Indiana. Standard Oil of Kentucky, Gulf Oil, Pennroad Corporation and s of that type also moved to lower I a o strength in motags, softness i coppers, irregularity of olls, erratic in public utility preferreds, atural gas issues and mixed ne in miscellaneous industrials were the outstanding features of the forenoon_session. Stutz Motors and Bpecial Disy Cord Corporation the upswing in motors as Ford da and Ford Motor, Ltd., accessories during this ptionally dull, as were such as Western Auto Supp! sich reported a_ decline in Septem ales, specializing in auto- e products. market opened fractionally Bond & Share at 1815 was t Middle West Utilitles 13 and Cities Service Standard Ol of .. Gulf Oil at merican & Foreign however, were up 8 tional Petroleum . at 71 was un- d'so were Ford Motor, Lt Traction at 8. hares failed to appear ing early trading. Pennroad Cor- poration at 57 declined . Natural gas shares were inactive and virtually unchanged. v foreign oils had barely with the appearance of of Imperial Oil at 914, off in_this group quickened Petroleum and Creole ed was up about 2 gains were scored Northern Pipe Lines, hsas Pipe was easier. ~Bessemer preferred was a_trifle though Dresser Manufacturing B A. O. Smith Corporation e than 3 points . COPPER STOCKS GAIN. NEW YORK, October 14 (#).—Stocks of refined ber in North and South reased 24.121 short tons in to a total of 479.896 short he end f the month, the Amer- au of Metal Statistics report- ptember total compares with hs on hand at the end 0,650 tons at the end BONDS ON THE CURDB MARKET. S ——————— C BONDS. High. Low. Noon. ta 9114 5234 el Pw ds H' ex Ut 55 A FOREIGN 5 Raden Con \ 1 61 o ki BONDS. 1 91 10112 1013 | 79" 7 NEW YORK CURB MARKET Stocks sold in 100 ~Prevalsl~ High. Low. 14% 24'% ock an Dividend Rate. Acme Wire... Affiliated Prod Afr Investors cv pf. . Aluminum Co of Am 11508 Alu Co of Am pf (6). Aluminum Co Ltd. Am British & Cont. .. Am City P&L (A) . Am Cit P&AL B b10%. Am Com P A (b10%) 11 Am Com Pwr 1st 61 125s Am Com Pr 1st pfA 7 25s % Am Corpn (f30c) 5 Am Cyanamid B Am For Pow wa Am Founders. 5 4 Am Gas & Elec (31). Am Lt & Trac ¢234).. Am Salamandra (2). Am Superpwr (p40e) Am Superp 15t (6).. Am Yvette (25¢) Amster Trading 4 Anglo Chil Nitrate Appalachian Gas Arkans NatGasA... Ark N G cu pf (60¢). Ark P& Lpt (7) % AsSo GE&ELA (b Asso Tel Ut (b8 At] Coast Fish. . Atl Fruit & Sugar. Atlas Utll Corp. . Atlas Utilities war. . AutoVM cv pr pt 50¢c. Babeock & W11 (7) Bickford's (1.20). . Bliss Co (K Blue Ridge Corp. .. Blue Ridge cv pf(al) Brazil Trac Lt&P(1) Bridgept Mch (25¢) . Buff N&KP pf (1.60). Bunker Hill & Sull Burco Inc war... %« Canadian Marconi Carib Syndicate. Carnation Co (§1 Cent Pub Sve A b3 %. Cent&Swn Ut (b7%) Cent Stat El (b10%). 27 & Cities Service (g30c) 119 Cities Serv pf (6)... 4 Claude Neon Lts Inc. Colon O1l... Col Oi1& Gas vtc. Colum Ple v.t.c. £73c. Consol Copper...... Cmwith Edison (8).. 75 Cmwlth & Sou war.. 7 Con Gas Balto (3.60) 11 Besspt (A).. 1 Cord Corp. 133 12 15 9 ! 224 09% 102 c. 12 38 1 3 758 16 4 5 i . 1 Corroon&Rey pf(A). Creole Petroleum.... Cresson Consol (4¢). Curtiss Wright war, 6 1 Cus! Mex Mining 1 Darby Petroleum. 1 Dayton Air & Eng... 112 Deere & Co. 1 De Forest Radio Detroit Alrcraf Dresser M{g B (2).. Dublilier Cond & Rad. Duquesne Gas. Durant Motors East G & F Assoc. East Sta Pow (B). ducational Pic pf. . 150 lec Bond&Sh(bi%) 4 lec B & Shcupf5.. lec B & Sh pf (6) Elec Pow Assoc (1 Elec Pow Assoc A (1) Flec P & Lt op war... : Empire Pub Sve (A). Eureka Pipe L (4) Falcon Lead. Federated Me: Florida P & L pf (7). Ford M Can A (1.20). Ford Mot Ltd 36 3-5¢ Fox Cheater (A).... Gen AlloyS. .. .ue.s Genk Ltd res 36 3-Ic Gen Fireproof (2). .. Gen ( cv pf B(6) 200s Gen Leather. s Gen Theat Eqg cv bf.. eorgia Pw pf (6)... Glen Alden Coal (4). ilohe Underwr (15c) 4 Goldman Sachs. Gorham Mf vte (f2). 1 Gt At&P T nv (16%) 100s Gt At&Pac Tea pf(7) 10s Gulf Ofl of Pa (1%3). 14 Hamilton Gas v.te... Hecla Mining (40¢). Horn & Hard (214).. Hudson Bay M & S.. Humble O] (+215),, Hygrade Food P'rod. Imp Ofl of Can (50¢) Indiana Pipe Line(1) Insull Inv (b6%). .. Ins Co ofNo Am 1214 Intercontinent Pet n Int Petroleum (1). .. Int Superpwr(t1.10). Int U i { 200, 25! Interstate Pw pf(7). Italian Superi®w A, Jer Cent P, Lefcourt R Len Coal & Lone Star Gas n 88c. Lonx Island Lt (60c) Long Isld Lt pf (7).. Magdalena Synd Marconi 1 M 73 2 Mead Johnson (1 CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. 50s 1 1 NEW YORK, October 14.—The fol- {lowing is a summary of important cor- poration news prepared by the Stand- ard Statistics Co., Inc., New York, for ‘thc Assoclated Press: News Trend. As was expected, an increase was shown in refincd copper stocks in North {and South America at the end of Sep- tember. According to the American Bureau of Metal Statistics, this in- crease amounted to 24,124 short tons, rising to 479,896 short tons from 455,- 775 in August and 360,650 in Septem- ber, 1930. September production was 86,704 tons, which compares with 90, 190 in August and 116,004 in Septem: ber, 1930. September shipments amount- ed to 62,583 tons, against 74,832 in Au- gust and 103,043 last year. Revenue freight car loadings for the week ended October went against the seasonal downtrend and rose to the !highest total for any week this year. Actual loadings, as reported by the American Railway Institute, totaled 777,837 cars, which compares with 738,- 029 cars in the previous week and 971 1255 cars in the like week of 1930. In- creases were reported in all commodi- ies, with the greatest gains in miscel- aneous freight and coal loadings. The Companies. General Gas & Electric, class A and B share earnings, 12 months to September 30, 39 cents. . General Motors—Frigidaire September sales 28 per cent above year ago. McKee (Arthur G.) & Co., common share earnings, nine months to Septem- ber 30, $5.48, vs. $5.38. Associated Telephone Utilities—Over 1,200 phones added to lines of Ohio company in September; 23,000 "added since beginning of year. Beatrice Creamery — Lower dollar sales, in six months ended August 31, due largely to lower prices: last half | profits expected to exceed thcse of year ago. - Kansas City Public Servicc—Tetal re- ceipts, period January 1 to October 4, off 2.9 per cent. 70 cents on common stock. ww—With warrants. xw—Without warrants, n—New. wi—With lssue, ings, 12 months to August 31, up 3.6 per cent; net earnings up 9.8 per cent. Mallinson (H. R.) & Co.—Expenses reduced 43 per cent from Year #go; LR Bros, declares initial dividend of | Louisville Gas & Electric—Gross earn- | . 1031 Meniph l:‘- Mesabl 76% Mid Sta Mid We Mo-Kan Miss Ri Miss Ri Nat Inv Nat Ser: els on Stock and w, Dividend Rate. 80 Melville Shoe 1st (6). 258 Met ldison pf (6) 4 Mid W Ut ev pf Xw 6 Mid Wt Sts U(b8%) Nat Sh.T Sec A Received by Private Wire Direct to The Star Office Sales— Add 00, Open. High, 78 18 5% % 8714 1% 10% 681 il N Gas (60¢).. 2 Iron.......e Pet vic A 22¢ st Ut (b8%) . 1 Pipe Line v Fuel bd rts. ver pr pf (6). Mont Lt H&P (1%). Moore Drop Forg(A) Nat American Co. Nat Family Stores. .. Nat Fuel Gas (1). estors. . Nat Pow & Lt pt (6).150: vice Co.....e 160c. (lierman) New Jers Zino (13).. ew Mex & Ar Land. ewmo Y Me nt Mining. ... rchandise (1) YP&LUpf(7)... Y Shi; Y Stes Y Tel tag-H fag-Hi fag-H oma pbuilding Cp. am Cp (2.60). pf (6%) ud Pow (40¢) ud Pow A w.. ud Pow B w. slec (40¢). Nor Am Aviat A war. Nor Pipe Line (t4).. Novadel 4 Ohio Co) ©Ohio Oil Oversea Pa P Parke I s Pender 1 Agene (4).. pper. ... cu pf (6). s Sec cG& »avis (11.65). DGrA (3'2) 508 Pennroad Corp (40c) W n M Phoenix § Phoenix at & Pow (3) forris Inc. ... Pilot Rad Plymou Polyme Pratt & th Ofl ( t Mfg Lambert (3) Premier Gold (12¢). Pub Utl Quaker RR&1 Republi 1 Hold xw. Oats (17). "t Inv A, c evbarn Co. Tthode I ] £ (2) tossia Intl (10¢).. Car Heat & L. e Paper (60c) -31 St pf.. board Util (28¢c) AllL Seual L ed Corp (1). & I (a50¢ elected Industr le Ind let Ind entr s al ctfs(513) prior( hattuck foux € Sisto Fi ith ( Son Pip SW Bel Epf (.. nance Corp. . A0) e Line 1 Tell pt W Gas Utilities tand Of tand O1l of Ky Stand Of tand P 1l of Ind(1).. 60. i1 Ohio ( &L (B)( tarrett Corp pf (3). M v tut Sunr ofor Car... ollL ., wan Finch Oil pf. Swift & Co (2 Swift Internat’l (14) Technic: Teck Hy Tr Tri-Util ans L olor Ine 1ghesGM 1 ux DL PS.. ities. . ‘Tubize Chatel. B.... ung Sol Lamp(1).. Un Gas of Canada(1) Unit Corp war. U'nit For Unit Ga Unit Ga: unders s Corp. s pf (7). Foil (B) (50¢). 7 £ & Intl Secur. .. S Inter X Lines pf E S Rubber Reclaim. Unit Sto Ut U Uti Vick Walker Watson West Mass Co( West Py Wil-low Woolwor 02 Wrigh 4 “ 135 2% Dividend Peop G rate. in nt. SEx or dividend. 1st pt ores v.te.. Unit Verde Exten (1) 1&Ind .. 1& Ind pf (113).. ty K : inancial (30e) uitles. . (H) (50¢) (J W) Co... %) wr pt (7). Cafeteria rth(FW)L! ® Har (112%¢) Ofl & Gas. RIGHTS—EXPIRE. L&C.Jan15 8 3% 3% 3% doliare based on last quarterly of semi-an- TPartly extra iPlus 1% in stock b Payable in stock eAdjustment £ Plus 6% in stock 1% k Plus 10% in stock Paid last ye: stock: | dotlar sales in first nine months showed | | substantial drop as result of lower | prices: unit sales up; two plants on full | | time capacity, three closed and one at | 20 per cent of capaci | | National Cash Regfster August net profit, $4,173 vs. 8,799 in 1930 month: | et profit was $206,346 vs. $233,158 n July, 1930; September domestic net profit estimated around $125,000. Northern States Power gross earnings | 12 months ended August 31 up 2.2 per | cent; net earnings up 2.2 per cent. | ~Oklahoma Gas & Electric gross earn- ings 12 months ended August 31 off 13.9 per cent; net earnings off 14.2 per cent. | Philadelphia Co. gross earnings 12 | months to August 31 off 6.4 per cent; net earnings off 3.1 per cent. Standard Gas & Electric gross earn- \| ings of subsidiaries and affiliated com- | panies, 12 months to August 31, off 3.6 per cent; net earnings off 1.8 per cent. United States Steel—Operations av- eraging around 32 per cent of capacity vs. a shade over 32 per cent a week ago, 31 per cent two weeks ago, 60 | per_cent in 1930 week and 82 per cent |in 1929 period. | Beatrice Creamery common share | earnings, six months to August 31, $4.06 vs. $6.29. Consolidated Gas of New York—Sep- tember gas refrigerator sales up 51 per cent; third quarter unit sales excceded | enbilrekflrs; half 1931, arket Street Railway gross reve- nues 12 monihs to Sepybemw;er 30" oF |64 per cent; net before interest, de- | preciation end taxes, off 8.3 per ceat. ! New York Central Railroad Toledo- ‘New York excess fare dropped; siigle occupancy compartment rate cuw to | 115 fares instead of 2 fares; capital in- crease fee case won in Appeals Court. | L l;mpper-Mchllum Hoslery—striking | knitters return; plants resume at ca- pacity on double shifts, Tidewater Associated Ol geported ex- E‘,‘,‘,‘?:fi,;’.‘;":, p(l’t:‘n for merger of Sinclair e i ! e , Prairie Pip: Line and Western Electric to accuire Nassau Smelting & Refining and ‘;llllnt inven- tory of Tottenville Coppet Co. Western Union Telegraph declares $1.50 quarterly dividend; formerly paid $2; cuts wages of all laad line employes, | except messengers, 10 per cent; 50,000 | affected. | American Telephone & Telegraph had | net loss of 207,500 tel-phones, or 1 1-3 | per cent, in Arst nine months; net | equity in undistributed earnings of sub- | | sidiarles, including Western Electric, in | | first nine months was about $3,500,000. | Australia political regimes, in order to secure voters, have at various times instituted so many different classes of | pensions that now there are actually nearly twice of many pensioners 88 tax- payers—504,000 & 267,000, Home Owning ‘ BY GEORGE 7. HUGHES. , One advantage of the ownership of a home is the fised character of the " |omist of the National Cas | way. " :| " “joduction in this important Cana- ;435,790 pairs, or an average monthly | factors, combined with the better sen- { tion's financial and economic program, / N SDAY, OCTOBER 14, 1931 GROSS DEBT OF U.S. 1S 12 BILLIONS Per Capita of More Than $1,000 Shown for Each Man, Woman and Child. By the Assoclated Press. ‘The gross debt of the United States amounts to more than $125,000,000,000, an_amount equivalent to more than $1,000 for each man, woman and child. Current debt statistics, compiled from Federal and reliable private sources, and from which are derived the Gov ernment’s estimates, divide the indebt- edness as follow: Federal Government State debts. Municipal Local ..$17,320,606,657 . $2,300,056,622 . $8,961,973,215 o . -$11,106,400,000 Fym mortgages;... . $9,468,526,000 Mortgaged dwellings. . ..$22,500,000.000 Corporate indebtedness. .$42,943,300,573 Debts of American homes .$10,700,000,000 Cornorate indebtedness leads all other classes of debts. This total was ar- rived at by a compilation of returns of 384,548 corporations out of 433,611 which filed balance sheets with their income tax returns to the Federal Gov- ernment for 1928. There aregno oOffi- cial estimates covering total corporate bonded indebtedness. A generally ac- cepted but unofficial survey gave an estimate of $47,118,810,000 as repre- senting the total amount of bonds and notes which all corporations had out: standing in 1928. No such estimate has been mude for more recent years. The estimate of real estate mort- gages on_dwellings was made by Fran lin W. Ryan, vice president and econ Credit As- sociation. The estimate is based on $8,- 000,000,000 of mortgages held by building and loan associations, $3,500,600,000 of | first mortgages by insurance companies, $5,000,000,000 of first mortgages by bank and trust companies, $3.000,000.- 000 of first mortgages held by private mortggge companies, $2,000,000,000 -of second mortgages, and a final $1,000,- 000,000 calculated to be the proper allocation to farm homes out of a total of $9.468.526,000 of mortgages on farms in_the United States. Total indebtedness of the 48 States| at the end of the fiscal year 192§ amounted to $2,300,056.622 on the bass he Census Bureau figures, whis e is also responsible for the esty on_municipal obligations. T¥ include cities over 30,000 pog™~ The estimate of “local indet- | was celculated by the Nacal| strial Conference Board, whigthe farm mortgoge indebtedness from the 1931 yearbook of agri of the Department of Agncullul% This | vearbook reported that “the wal has | continued practically unchapgd dur- ing the last two years. It semns that since 1928 a halt been piched in the long upward trend.” gfe figures | cover the year of 1928 There is no official estimte on cur- rent debis of American fmilies, but | one by Mr. Ryan is againtised by the | Government in its egiates, which} | splits up the total FOILE] 0!!‘}1 ac- | count debts, $4.500.00000: instaliment | debts. $2.500.000,000; ¥Ort term cash credit, ~ $1.500.000.00¢; life insurance | policy loans, £2,200,(0.000. CANADIAN FOSTWEAR INDUSTRY ON INCREASE Special Dispatch pfhe Star. MONTREAL Quebec, October 14— | Canada's leats# footwear industry has been snowing / SUrprising advance. this yvear, after @ serfod of decline in 1930, ‘and’ producfon for the first seven ! months of 1931 was approximately 550,000 psi higher than for the cor- | Yespondisgeriod of 1930, according to !a bullein just made public by the | dep>rnen.” of immigration and _col- onizaton >f the Canadian Pacific Rail- mate latter lation. digt Indastry took a sharp turn upward | Sfebruary.” the bulletin reports. “and hs continued upward almost without , break. Total production for the first | p even months of this vear was 10.- production of 1490828 pairs. _This compares with a total of 10.187.455 pairs during the first seven months of 1930, when the average monthly pro- duction was 1455351, “Women's footwear again headed the list for the seven months’ production with an output of 4,746,507 pairs. The production of men’s footwear totaled 2351735 pairs, misses and children’s, babies 7.399, and youths', 3 The bulletin estimated the Canadizn onsumption of leather footwear at ap- Froximately 21,000,000 pairs. STEEL PICK-UP SEEN. NEW YORK, October 14 (A— Further acceleration in the demand for stecl is promised for the latter half of October. Iron Age said today. although it reported the rate of activity as un- changed at 29 per cent of capacity. | There has been moderate improve- ment in the inquiry from automobile, farm equipment and radio industries, and also from the railroads. These timent resulting from the administra- make “a somewhat brighter business picture.” JE— investment. Reol estate relatively is not easily dispostd of. When the stock | speculators wee caught in the great | crash of two yezrs ago and they utilized | every means of Taising money to pro- tect impairel margin accounts, it was only in desperate cases that they fell back on morigaging the home. It was ‘omparatively easy to borrow ! on life jysurance and shares in bufld- ' ing and ban companies could be with- drawn gnd, of course, securities could be sold or used as collateral at the bank, dut it took too much time as a rule to secure funds by executing a mortgage on one's residence. One voung speculator who, at the height of | the pfiation, had a fortune on paper foww it all swept away in the break exeept an island on an Adirondack lake, which he had bought with a part of the profits he had withdraw: nis account and on which he couldn't raise money. He has the island yet and ‘not much more. Money can be borrowed on real es- tate security, but as a matter of fact the average-salaried man or wage earner considers, and properly so, this to be a last resort. As a rule, also, the home owner who already has a mort- gage on his place is anxious to clear it off. If he has bought through a | building and loan association 'the lien |%is automatically wiped out on the ma* | turity -of his shares. If the mortgage is held by a private investor or by an institution and runs for a fixed time, three to five years being the usual term, it is ordinarily renewed at ma turity, but it is always a matter of more or less worry to the home owner. He is apt to allot any savings he may have been able to accumulate' toward reducing the principal. ‘That probably is a sound procedure, but there are exceptional cases where it' is better to invest the available surplus in securities and use the in- come therefrom to pay interest on the mortgage, letting the latter stand. The advantage of this method is that of having some liquid capital in the event of an emergency. It is a course to be taken, however, only by those who have the self-control not to touch this surplus except in a case of such emer- | gency. (Copyright, 1931.) . Boston has the reputation of strictly enforeing its traffic laws, and as a con- sequence, has the lowest rate in motor accidents of any large city. u | There was consideral from | Brokers’ Comment NEW YORK, October 14.—The im- portant bearing of Europein events on cur financial markets was stressed in today’s brokerage housc —ccmment. ble discussion of | the gold movement. | Redmond & Co—In .vlew of thel many constructive domestic financial) megsures either under way or in con- teniplation, we still have a feeling that, the market will meet effective buving support at cr above the recent lows. However, we believe it'ls too early tog state definitely whether those lows will | stand as the absolute bottom of | the bear market. Much probably de-} pends upon the course of ewents in Eu- I rope and Manchuria during the next, | few weeks. | E. F. Hutton & Co . upon confidence in the American dollar | which is taking place avroad appears to | ' be reaching important proportions. It | will be remembered tnat something | similar occurred with the British pound as the subject at the time of the French- Britfsh ncgotiations some mcnths 2go. The position of the dollar is secure enough from our viewpoipt to make stories of distrust abroad seem ludi-} crous. However, it is Ve pessible that foreigners see some benefit to be gained |in the forthcoming conferences between President Hoover and Premier Laval if | they can place us in a defensive atti- ; tude. We do not believe all good news | sources have as yet been tapped. We think it probable, also, that buying ?Nler around and above the October low level will be substantial. Stein Alstrin & Co.—If the improve- ment in sentiment which came about s a result of the new Hoover plan is not to be dissipated, the present re- actionary tendegcles should not last very much longer. Jackson Bros, Boesel Co.—The gold movement is well worth watching. It is an open question whether the ad- vance of a full point in the New York rediscount rate reflected apprehension on the part of the Federal Reserve Board over the loss of $101,000,000 in {gold mn a singl> week. Such a fast withdrawal as was witnessed last week, however, might readily be construed as 1 having ulterior significance. We sur- mise t & continuation of the outgo t an abnormally fast rate would force o O Rler Sine n the Tediscount Tates { New York Cotton Special Dispatch to The Star. NEW YORK, October 14.— Cotton prices were unchanged to 5 points low- er at the opening of the mirket today. The Government cotton consumption report showed 463,704 running bales of lint cotton consumed in United States mills in September against 425,819 in August and 393,390 in September, 1930. Opening prices were: October, 6.15, unl:hl!\ns; December, 6.25, unchanged January, 6.38, off 1; March, 6.56, up changed; May, 6.72, off 3, and Juls 6.90, off 5. CHICAGO STOCKS GAIN $71,829,422 IN WEK Special Dispatch to The Star. CHICAGO, Ill, October representative stocks listed Chicago Stock Exchange at of business for the week en 10 had a market value of 290, which compares with at ‘the close of the pre crease during the week lor 6.45%. ( The analysis by Pau, shows further that at PARIS BOWSE PRICES. PARIS, Octobg 14 (P).—Three per cent rentes, 84 f7C5 40 centimes. Five per cent loan, §l_francs 50 centimes. Exchange on L¢don, 98 francs 25 cen- times. The ar was quoted at 25 francs 39 cen/nes g 42 | . INVESMENT TRUSTS By the A: ed Press. NEW YRK. October 14 —Over-the- counter girket: Bid. Asked Shrs 39 7 & Con 6% bt mp Tr Shis unders 6% pr Anfounders 77 pf Anfounders 1-70thg com i Pounders cv ptoctfs. Founders 1-40 com e ec war 5 1 & Pac Int units 'Atl & Pac com ww Atl & Pac pf war Nat I Ba Bans Ba s & Type Inv .. Century Tr Shrs Chafn & Gen_ Ecuities Guain 8 Tnvest o Inv Tr, Gude Winmi Incorp Invest Incor Inve: 1 nd_Tr S Int Bec Corp A Int Sec Corp Am Int Sec Am 6 Ini Sec Am 6!.s P v Tr N Spencer Tra Stand Stand Stand State K per Super 2 Trust Shrs of Am i Trustee Etand Tnvest C. tee Stand Inv D! tee St Ac, Un ed_Fixed Shrs Unit 70th C Fdrs 1- h The COMMERCIAL NATIONAL BANK 14th and G Streets Banking in All of Its Phases i WWI‘AWMWW@H;WWMW ] Earning ll’ot:]'_f Ts S«:'ry:d First Mortgage Securities 6% Guaranty First Mortgage Securities that are sponsored and guaranteed by this 6 O] corporation are a safe /O end sure method of accumulating a steady income and offer an /O ®itractive. unvarying / yield of 6 per cent in- terest. Denominations as low as $100 Monthly Payments if Desired Send for_Booklet, “The Success Plan” REAL ESTATE MORTGAGE & GUARANTY + CORPORATION 1610 K St. N.W. National 1403 SAVINGS On D. C. Property Arranged on the Following Rates: $2,000..$20 Month $3,000. .$30 Month —And so on in proportionate tes’ “Inqutre “for et . * . Open Daily 9 to § Saturdays Until Noon NAtional 1381 minous coal, rubber and leather. Listed Of Washington. in the District of Columbia. [ 4534 he close of business on September 2. 26. Bills payabl Total .. District of Col I WM R. above-named bank, do solemnly sw Wm. D. Barry. Money to Loan by first deed of trust ailing interest and Joseph 1. Weller i e ENTERPRISE SERTAL BUILDING ASSOCIATION 7th St. and Indiana Ave. N.W. 67th Series of Stock Now Open for Subscription 59, INTEREST PAID ON STOCK James E Connelly, James F. Shea, President Secretary SMAL GAIN NOTED INVHOLESALE INDEX ne_weekly wholesale price Index of th, National Fertilizer Association, weh is based on 476 price quotations uted weekly, showed a small gain he first time in several weeks. e largest gain was shown in the up of foods, due to improved prices a number of the important com- odities. The largest loss was noted mz,:w group of grains, feeds and live Among the important commodities | that advanced during the latest week were silk, lard, butter, eggs, sugar, flour, potatoes, wheat, oats, choice cattle, heavy hogs, silver, rosin, bitu- among the commodities that declined were cotton, wool, burlap, cottonseed meal, apples, corn, bran, light weight hogs, sheep, lambs, pig iron, heavy melting steel, gasoline, hides and| coffee. REPORT OF CONDITION United States lS‘;vings Bank of Washington, D. C. Mind REWOOD engraved tionery will keep you the mind of your business correspondents as a business that hasn't cheapened what it sells or the way it deals. BrewaD Grgrevers and ftationers RESOURCES. . Loans and discounts.... Overdrafts .. - 10.062280.34 United States % 4 sta- securities owned . o . Other bonds. stocks and ‘se- curities owned ........... . Banking _house, '$75.000.00; furniture and = fixtures, TUARMGIENC owned " othes than banking house ...... . Cash and due from banks. . . Other assets ..... B 1,031.19 573,679.15 87,936.86 6.680.09 324/426.64 554,49 | . §3,057,283.88 | IIABILITIES. Capitzl stock paid in Surplus vided ‘profts_net . es for dividends,’ con- $100.000.00 150.000.00 151264.34 21,544 96 611 12th N.wW. District 4868 St. nks. includin tified and cashiers’ outstanding Demand deposits Time deposits ... ! 5 né’ rediscounts iumbia. s | DE_LASHMUTT. r of the ear that the above statement is true to the best of my knowledge and belief WM. R. DE LASHMUTT. . cash | | 3 ashier Subscribed snd sworn to before me this 7th_day of October, 1831, (Seal.) THOMAS E._PETTY, Notary Public. A Correct—Attest: Wade H. Coops Chas. & Wilbur ' H. Zepp. Wm, First Mortgage Loans We Make Fin Trust Loans ON IMPROVED REAL ESTATE IN AMOUNTS OF $5.000 $1,000,000 IN THE DISTRICT OF COLUMBIA AND NEARBY MONTGOMERY CO.. MD. PERIODS OF 3, 5 or 10 YRS. Prompt Decisions Given Applications 5% INTEREST BOSS and PHELPS Realtors FOUNDED 1907 117 K. St N.W. Loan Correspondent John Hancock Mutual Life Insurance Co. Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Washington Council of Executives Executives and potential executives cordially invited to hear an inier- g lecture b LLOYD H. DOPP Fducational Advizor of the Alezande: Hamilton Institute Sponsored by AOUNT Du}?’nv SCcHooL SECREVARIES The leciul begin promptly st $:30 p. m. Th October 15. In the Ballroom of the NEW AMSTERDAM HOTEL 2701 14th St. N.W. All executives are urged to come and hear the interpretation of an executive STRICKLAND GILLILAN Well-Known Humorist Loans on Real Estate If you dre seeking a loan on your home, you should first consider the Real Estate Loan Plan of the Metro- politan Life Insurance Company which has been endorsed by thou- sands of p:ople througl’:out the United States. Loans for Fifteen Years No Life Insurance Required Low Interest Rates ) Construction Loans in Any Amount F— WEA&’E-.B_BBO REALTORS Washington Building District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company Loans made in the District of Columbia and nearby Maryland and Virginia FAMILY HOMES largely represent the security back of our 6% FIRST MORTGAGES and there is no higher type of security imaginable—for back of the appraised valuation upon which the loan was made is the moral Qeer a Third principle. ofa . Century Without a Our appraisements are conserva- tive so that we can recommend this investment for your surplus funds. May be purchased in amounts from $250 up. F. SAUL CO. 925 "15th=St. NW: B. National 2100 B2 NINTH ST A THERE IS NO SUBSTITUTE FOR SAFE