Evening Star Newspaper, October 20, 1931, Page 13

JFINANCIAL. THE EVENING STAR, WASHINGTON, D. €, TUESDAY, GUTOBER 20, 193 ANCIAL P A—i3 W“w e ———————————————————————————— et | | RICHMOND RESERVE' NEW YOR}(M ,§',r..°....§'5,..§...xfifl ANGE STOCK PRICES GAIN | & b bt e e, Maney o Loss BANK RAISES RATE! ON HEAVY BUYING *_Bldg.. LOANS Is Your 'l)xl‘ nl:l\::fl lg‘,!"ril! Due? . MR. FRIEDMAN Room tion at 141 all had fractional advances. pio L . | CHICAGO STOCKS DOWN | were mult i the Fomdantusnd, fats | 51 .PCT. DURING YEAR Sales— hados. msd, 14 106 Net. Low. Cloge. Chee. M 102 —i981— Stock and ~ High. Low, Dividend Rate. Low. High. Low. Olose. Chge. | 28 4 Davison Chemi 214 Abitibi Pwr & Paper. 3% 8 W% | 22 131 Deere & Copf (1.40). Adams Express (1) 10% 9% 157% 93 Delaware & Hud (9). Adv Rumley..... 3 102 -+ 2914 Del Lack & Wn (2).. L these destemated by lotter ;o Add 0o, year. Dividend Rate. - Hien 1410 2815 17 11% 2 106 + 45 Leaders Advance Power & Ll(h: at 17%, American & | ket value of $2,350,077,314, M & decrease during the yur of $1,200,- ‘J“ep], I. Weller Redlscount Charge Now 4 t 14%, Commonwealth & Southern .t 5% and United Corpora- | 740,747, or 51.09 per cent. Per Cent—D. C. Bankers Hold Fall Meeting. BY EDWARD C. STONE. Tt was announced by the Fedzral Re- | serve Board that the Federal Reserve | Bank of Richmond has raised the re discount rate from 3 to 4 per cent, ef fective today. This action by the Rich- mond bank gives the Fifth Feleral Re- serve District the highest rediscount H rate now prevailing in l vy of the lu‘ Reserve districts. i Advancing the rate by thr Richmond | Reserve bank means more to a large in- | dustrial city like Baltimore than it does to & non-industrial city like Washington. Raising of the rate, however, indicates | that there is an increase in the demand for money in this territory. Improve- ment in the demand for money alwajs indicates that there alread or soon will be, an upturn in business condi- tions. The Richmond bank’s action follows that taken by the New York Reserve | Bank about 10 days ago. George J. Seay is governor of the Richmond Re- serve Bank and Willlam W. Hoxton, chairman of the board Bankers Hold Business Session. Members of the District Bankers' As- sociation held their regular Fall busi- ness meeting late yesterday afternoon at headquarters It was the first busi- ness session since the June convention at_Hot Springs, Va. Resolutions were passed on the death | of Andrew Parker, senior vice presi-! dent of the Washington Loan & Trust Co., who was a prominent figure in the local financial district for many years The association was notified of the coming expiration of the term of Edwin C. Graham as a class B director in the Federal Reserve Bank of Richmond. He was given unanimous indorsement to succeed himself because of the able manner in which he has already served the board. While no offictal discussion took place concerning the $500,000,000 National Credit Corporation pian to assist the banking situation. mention of the big fonal movement aroused enthusiasm | among the members. i More Banks Vote Subscriptions. H Willlam D. Hoover, president of the | National Savings & Trust Co, en-| nounced today that the directors of his | bank have unanimously voted to sub- | scribe the full quota to the fund now being raised by the National Credit| Assoclation. The action was taken n, the regular monthly meeting yesterday. President Lanier P. McLachien of the | McLachlen Banking Corporation also | reports that his institution has voted full support to the movement. The ac- | tion taken by these two banks brings | the total number of Washington banks already subscribing to the fund to nine. The directors of the American Secur- | ity & Trust Co. were to hold their reg- ular monthly mecting this afternoon, their cordial backing of the plan being | expected. Other local banks are plan- | ning to take up the matter before the | special joint meeting of the Washington | Clearing_ House Association and the | District Bankers’ Association, called for next Friday afternoon. ! C. & O. Reports Earnings. The report of Chesapeake & Ohio Railway Co for nine months ended September 30, 1931, shows net income | of $21,122.043 after taxes, charges and | sinking fund appropriations, equivalent after allowing for nine months’ dividend requirements on 6!, per cent preferred | stock to $2.76 a share (per $25) on 7,651,281 shares of common stock. This | compares with $25074.180, or $3.27 a share. on 7.654.668 common shares in first nine months of 1930 Gross revenues for September were | $11,040.095, & decrease of $1,092,939 un- | der September of last year; operating expenses were $6,231,477, & decrease of | $791.616 as compared with September | vear: net railway operating in- $4.047.080, a decrease of $229.- 688 under September of last year. The net income after all charges, including sinking fund appropriation for the month of September, was $3.316,193, a decrease of $462,677 under S=ptember of | last year. The operating ratio is 56.4 | per cent, compared with 57.8 per cent for September of last year, or a de- creas: of 1.4 per cent. H Trading Active on Exchange. i Trading covered & wide range of Is- | sues on the Washington Stock Exchange | today. The market opened with Po- | tomac Electric Power 6 per cent pre- | ferred selling at 110!;. Five shares of | Unfon Trust Co. stock then changed hands at 197. Both type stocks were out, 10 shares of Lanston Montoype selling at 73':, | while Mergenthaler Linotype closed at 65. Woodward & Lothrop common, | which has appeared daily in recent ses- | sions, sold again today at 30 on a turn- | over of 90 shares. | In the bond division, Washington Rallway & Electric 4s came out at 85%, two $1,000 sales in Potomac Electric Power 6s were recorded at 106'; and a small sale in Washington Gas 6s, series A, took place at 100%. Saunders Again in Business, Clarence Saunders. who at one time | owned all the Piggly Wiggly stores | in Washington, has started out in | Memphis, Tern., for a third time to make his fortune, opening a modern | grocery store in the downtown section ‘ with 50 employes. Wholesale Price Index Higher. The weekly wholesale price index of the National Fertilizer Association, | based on 476 price quotations com- ! puted weekly, showed another small’ gain for the second consecutive week. ‘The computation for the week ended October 17 showed a gain of 3 frac- tional points over last week and 4 fractional points more than two weeks | ago. The latest index number is 66.7. A week ago it was 66.4: a month ago 1t was 67.6. and a year ago it was 83.1. ‘The Treasury Department on October | 26 will retire $51.806,000 of Treasury bills which carry an interest rate on a discount rate of .456, the lowest rate in history of this typc of security. The ‘Treasury is offering $50,000.000 91-day bills with which w0 meet he matur- ing bills. Edward J. McQuade, president of the Liberty National Bank. is attending the ! monthly meeting of the Mergenthaler | Linotype Co. in New York today. Local brokers have received a llrge number of copies of the speech by President Richard Whitney of the New | Stock Exchange, in which he put up igorous defense of short selling. n& Bre here are in accord with what he Bankers and some Congress- men are equally opposed to short selling. Washirigton Clearing House figures for todey, $3,869,771.61. "TAX SELLING. NEW YORK, October 20 (Special).—- ' ‘Those whose business it is to follow | the income tax reports and to prepare income tax statements anticipate fur- ther lquidation of securitics in the next | two months for the purpose of estab- lishing tax losses on 1931 income. Thers has already been considerable shifting from stocks in which losses have been carried for several years into other stocks at about the same price range and the same yield and having a bet- ter background of earnings and pros- pects. This year the losses in domestic and foreign bonds have been relatively greater than those in stocks. For this reason it is anticipated that while the showing with respect to losscs taken on squities may not be so untayorable as m 1930, the shrinkages established in bonds will be a substantial factor in reducing income tax payments, 109% 20 12% 55's 59t 461 1823, 126 42% 23 29% 621 6614 15; 203% 10814 |”n .',:v. 23m 295% pan 16'% 653 90 101 33% 25% 370 90 % 341y 17 5815 50'y 174 95 9! 34 109 106 21% 12 100% 143 30% 73 70 1874 109% 107 3 12 815 107 52 Alr Reduction(14%). 7 Alaska Juneau (40¢) 3% Allegany COrp...... 8 AllegCppfx 330 w.. R Alleg Cp pf 330 ww.. 2014 Allegheny Steel 60c. 114'% Allfed Ch&Dye pf(7) 14 Allis-Chalmers (1).. 13 Amerada Corp (2)... 51 Am Agri Chem(Del). 18 Am Bank Note (13). 54 Am Bank Note pf (3) 71% Am CanCo (15)..... 12413 Am Can Co of (7)., 9 AmCar & Fdry (1), 40 Am Car & Fdy pt (7) 6'4 Am Chain 311 Am Chic 5 Am Colortype. .. 5 Am Comel Alcohol. 9 Am European Secur. 10% Am & For Power. ... 40 Am & For Pwrpf(6). 45% Am & For Pwr pf(7). 25 Am & For Pwr2d pf. 1 Am Hide & Leather. . &' Am Hide & Leath pf. a7 Am Tiome Prod 4.20.. 1015 Amce (2)... . 6 Am International 8 Am Locomotive (1). 60% Am Lo'motive pt (7) 16 Am Mch & Fdy 1.40.. 5 Am MetalCo.... 23 Am Natural Gas pf. . 35 Am News (13%). 1415 Am Pwr & Lt (31). 57 Am P&Lt pf A 8t(5, 7 Am Radiator (60c) 24 Am Republics. 10 Am Folling Mill 27 Am Safety Razor 1% Am Ship & Com..... 19% Am Smitg&Ref (114) 68 AmSm&R 2d pri6).. 9815 Am S$m & Ref pt (T '3 Am Solv & Chemical. Am Steel Found (1).. Am Stores (1215). Am Sugar Ret (3). .. ar Ref pt (1) 12114 Am Tel & Telex (9).. 71t Am Tobacco (16). ... 74% Am Tobacco B (16).. 112 Am Tobaceo pt (6) Am Water Wks (3).. Am Wat Wkscfs(3). Am Wat W 18t p£(6) Am Woolen Co. ‘Am Woolen Co pf. Am Zinc & Lead. Anaconda Copper Armour of Del pt Armour of 111 (A) Armour of Il (B). Armour of 111 pf Arnold Constable Art Metal (80c). Associated Apparel.. Associated Dry G(1) Asso D G 18t pE (6).. 9713 Atch To&S Fe (10).. 90ty Atch To&S Fe pf (5). 59 Atl Coast Line (7). 10% Atl Gulf&West Ind., 16 Atl Gulf&W 1pt (5). 9% Atlantic Refining (1) 21 Atlas Powder (4).... 84% Auburn Auto (f4)..« % Autosales....... 215 Aviation Corp (Del). F 1 PO OO O U P s P G'. Baldwin Locomotive Balto & Ohio 4). EBamberger pf (6%4). Bang & Aroos (3%).. Bang & Aroos pt (7). Barker Bros. Barnsdall Cor Bayuk Clgar (3). Bayuk Cig 18t pf Beatrice Beatrice Crm pt(7).. Beech-Nut Pkg (3).. Belding- Bendix A Best & Co (2 Bethlehem S Bethlehem Stl pt (7) Blaw-Knox (1).. Bohn Alumn (133)... Borden Co (k3).. Borg Warner (1) Boston & Maine RR. Briges Mfg (11% ) Bklyn-Man Tran (4). Bkiyn & Queens..... 4 Ekiyn Union Gas (5) Brown Shoe (3) Brunsw-Balks. Bruns Term & R Bucyrus-Erfe. .. Bucyrus-Eriecy Bueyrus pf (7)., Budd (E G) Mf; Budd (EG) Mfgp Budd Wheel (1). Bullard Co. ... Burns Bros pf (7 Burroueh A M(11 Bush Terminal(2 Bush Term deb (7). Bush Terminal pf(7) Butte Copper & Zinc. Butterfck Co...veeee Byers (A M) Co Callf Packing (2). Calumet & Hecla. ... W&C Fdy (1).. ‘anada Dry G A (3) .. nadian Pacific 1% . Capital Admin (A) 4« Case (J 1) Co..uue Case (J 1) pt (7) Caterpillar Trac(3). Celanese Corp. : Celotex vic ctfs. Cent Aguirre (1% )e e Century Mills Cerro de Pasco (1) Certain-teed Prod. Checker Cab Mr{g... Ches & Ohio (2%) . esapeake Corp (3 Chi Great Western Chi Great Westn pf., Chi Mil StP & Pac... Chi Mil StP & Pac pf. Chi & Northwest (4). Chi W pf (T) “hi Pneu Tool. fcazo R 1&Pacifio. 1 R1& Pac pf (8). Chi R 1 & Pac pf (7). Childs Company..... Chrysler Corp (1). City Ice&Fuel (3.60) y Ice&Fuel pf 6% City Stores......c00 Cluett-Peabody (3).. “oca-Cola (17%) Coca-Cola (A¥(3). Colgate-Pal-P (2% Collins & Alkman. ... Collins & Aik Df (1)« Colo Fuel & Iron... Colo Fuel & Ir pf (3) “0lo & Southern (3). ‘olumb G & E (1%).x ‘ol Gas&Eipt A (6).x ‘olumb Carbon (4).. ‘omm Credit 11.60).. Comel Credit A (3).. Comcl Cred 15L(6% ). Comel Inv Trust (2). Com Inv Trust p£(7) mo. Comm Iny cvpfie6). 1 Comel Inv Tr pt 6% .. Comel Solvents (1).. ComwIth&Sou (40e » PEEITE TSI 21 50s 170 43 101 108 Congol Filin pf (2) Consol Gas N ¥ (4).. Consol Gas NY pf(5) 4 Consol Laundries(1) Conti Baking (B). ... Cont! Bakinz pf (8). Contl Can (2%). Cont Dlamord F 1943 Cont Insur 114 Contl Motor: 5 Contl Ol (De Contl Shares. ... Corn Products (3). Coty Inz Cream of Wheat 1234 Crex Carpet. . . Crown Cork 1 Crucible Steel . Cructble Steel pf (1) Cuba Cane Products. CubaCo....ovnvnnns Cuban-Am Sugar.... Cudahy Packing (4). Curtis Publish (4 Curtiss Wrignt Curtis Wright ( Cushmans pf (8) 64% 14% 4% L) 3 67% Pttt b+ +4++ b+ttt ke &F TS = ErrsaE RS R SR ™ s wFrefaler svee seessFes & 42% 45% 9 Denver&RG Wpf.. 12 195 112 Detroit Edison (8).. 19% 11 Devoe & Ray A(60c). 28 121 Diamond Match (1).. 281 22 Diamond Mtch pf 1% 13'% 6% Dome Mines (1). 24 11 Domn Stores (1. 21% 10 Doug Alrcraft(t1%) 2214 21 Dresser (S R) (A) 126 1214 Dresser (S R) (B) 423% Drug Corp (4). 107 63% Dupont de Nem 124% 108 * Du Pont de N pt(8) 21 Durham Hosiery pf stern Roll Mil tman Kodak (18) on Axle & 8pr(1) 3514 Eitington-Schild pf. 20 Flec Auto Lite (4) 98 Elec Auto-Lite pf( 21 Elec&Musical Instru 16% Elec Pwr & Lt (1) 55 Elec Pwr & Lt pf(6). 66% Elec Pwr & Lt pf (7) 29 Flec Storage Bat (4). 22 Eng Pub Sve (1.60).. 5474 Eng Pub Sve pf (6).. 108 Erie RR. 131 Erfe RR 18t pf (4) 12 Erle RR2aDf....... 314 Eureka Vac Cleaner. Exchange Ruffet (1) d Lt & Trac pf (6) 20 Fed Mines & Smelt. . 814 Fed Wat Sve A(1.20) 27% 13 Fed Dept Strs (26c). 56% 22 FidPhFireIn(2.60), 661 50'4 Firestone T&R pf(6) 63 41 First Natl Strs (2%) % ' Fisk Rubber . 6415 10% Foster Wheeler (1). 17% 3% Foundation Co...... 3215 18 Fourth Nat Inv mé6e 88% 5 Fox Film (A) (2%}, 43% 134 Freenort-Tex (3)... 11s Gabriel Co (A). 2015 Gamewell Co (3). % Gardner Motor. 2's Gen Am Investor 3815 Gén Am Tank Car(4) 9% Gen Asphalt (2) 14% Gen Baking (2). 6% Gen Cable (A) 1114 Gen Elec spec (600) .. 30% Gen Food Corp (3)..: 24y Gas&El A(e30c) 23 Gen Gas&E cv pf(6). 234 Gen Ital Ed El m2.61 32 Gen Mills up. 18 l(olorlv!t 10% Gen Prtg Ink (nfi 4% Gen Public Service. . 14 22% Gen Ry Signal (5)... 100 Gen Ry Signal pf (6) 1% Gen Realty & Utll 15 Gen Refractories (3) 1 15 Gen Steel Casting pf. 108 1% Gen Theatre Equip.. 14 91, ‘Gtllette Saf Razor... 25 45% Glllette Saf R pf (). 6 414 G11dden Co. .uvvue.oy 48 Glidden Co pr pf (1). 3% Gobel (Adolf) 4214 18 Gold Dust (2%) 20% 5 Goodrich (BF). 52% 16 Goodyear T& R . 13% 3% Gotham Silk Hoslery 6% 1 Gould Coupler B 614 173 Graham-Paige. 226, 5% Granby Con Min (1). 2513 33 Grand Silver Stores. 18% 7 Grand (nion........ 46 31%% Grand Union pf (3).. 42 25% Grant (W T) (1).... 69% 20 Great Northn pf(4).. 231 12 Great Northn Ore(2) 117% 5% Great Western Sug.. 9615 801 Great Wn Sug pf (1) 1 6% 1% Grigsby Grunow.... 14% Gulf Mohile&Nor pf. 6 Gulf States Steel.... 308 100 5 1% 19 19 1% 16% o =5 e e o BT e Bawlanen 9% 2% Hahn Dept Stores. .. 63 254 Hahn Dpt St pf(6%) 464 17% Harb & Walker (1).. 42 13 Hawalian Piueapple. 808 8 1% Hayes Body Corp... 1 11914 104 Hercules Pow pf (1) 208 105 37 17 Holland Furn (12%) 1 18 54 Hollander Son 5 81 Homestake M (7.80) x 3 Houdallle Hershey.. 19 Houston O11 . 4 Houston Oll (new).. 25 1214 Howe Sound (2).... 10 27 Hudson & Man (3%) 2 7% Hudson Motor (1) & 3% Hupp Motors 15 16 284 lllinois-Central (4).. 108 1 1 8 2 105 3 51 35 Illinofs Cent11 (4).. 1% Indian Motor Cycle Indust Rayon (4)... Ingersoll Rand (4).. Inland Steel (2% ) Inspiration Copper. . Insuranshares Del A interboro Rap Trans Interlake Iron 8 M hlnl(nl) Int Carriers,Ltd 60c. Int Cerpent (4). Int Combustion. ... 5% Int Combustion pf. 2215 Int Harvester (2%) 10 Int Hydro E1 A (e2). 19 Int Match pf (4).... 7 (nt Merchant Marine, Int Nick of Can(40¢) 350 Int Paper pf........ 1608 Int Paper & Pwr (A) 2 Int Paper & PwrC... 2 Int Paper & Pwr pf. Int Priutg Ink pf (6) Int Salt (3). Int Shoe (3) IntSilver. Int Tel & T Int Dept Stores (2 Interst D S pt xw(1). Investors Equity.. % Towa Central RR. 1515 Island Creek Coai(4) 1 47 105 99 Jones & Laugh pt(7) 8% IKansas City Southn, 13 3315 Kan City Soupf (4). 2 8 K'maunn Dept Stra(1] 4 81 Kayser (J) & Co (1). 35 « Kelly-Spring Tire 26 10 Kelly-Spr T 6% pf. 5% Kelly-Spr T 8% l’;:. . 12315 45 16% 508 400s 4 17 Kendall Co pf (: 508 10‘6 Kunmconoopporu) l'ls aflfi)w 4'4 24 38 94 22% 59% 2 resge (S S) (1.60) Kress (SH) Co (j1).. Kreuger & Toll 1.61). oo Tivbber & Tir Lehigh Valley Coa Leh Val Coal pf (3) Lehigh Valley R R. Lehman Corp (3) Liggett & Myers(15) Ligg & Myers B (15) Lima Locomot (m2). Liquid Carbonlie (2). x Loew'sInc (3)...... 177 Loew's Inc pf (6%) Loft Inc....... 2514 Loose-Wiles (13) 10 Lorrillard (P) Co. 20 LouGas&ElIA (1% 1% Loulsiana Oil. 38'4 Lours&Nashvi s Ludlum Steel. Ludinm $ 17 AMcCall Corp (21 17% McCrory (B) (2). b5 McCrory Strs pf (6 12 Mcintyre Porec M(1 38% McKeesport T P (4). i Mcilesson & Rob (1), McKes&Rob pf(3%) % MackTrucks (2).... Macy (1H)& Co(n3). Madison su Garden Market St Ry prpf.., Marlin- Rockwell (2) Marshall Field 12!6) 1 Martin Parry. 1% 1(" Mathieson Alk! ll 10% (Continued on Page 14.) 12% 1% 40% 11 80s 108% 10814 20s 103'% 103'% 15 36 9% 104 1% A% 3% Market Sharply on Favorable News Developments. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, October 20.—A budget of favorable overnight news develop- ments at home and abroad brought heavy buying orders into the stock mar- ket today and sent prices to the best of the current recovery. Business was so heavy for the first half hour that the ticker fell 2 minutes behind. During this period the turnover was four times that of Monday. American Telephone and United States Steel led the ad- vance, the former crossing 138 and the latter crossing 71. Auburn Auto jumped nearly 7 points. J. 1. Case was in muvz demand for both adcounts, up 3 points. Rails Share in Advance. The railroads were not quite as prom- New York Central and Union Pacific gained 2 points and were the most ac- tive, except for Baltimore & Ohio. The oils were featured by fractional gains in the standard shares. Consolidated Gas and the food stocks were favored . elsewhere in the list. Sentiment was helped by the more conciliatory attitude of Japan in_the Far Eastern dispute, by semi-official assurances from Washington that the gold withdrawals were nearing an end and by increasing evidences of general business improvement. Reasons assigned for the better feel- ing in Wa!l Street included the con: ciliatory attitude adopted by Japan in the Far Eastern dispute, semi-official assurances from Washington reurdln: the gold outflow, which was sald to be nearing its end, and at the same time a prediction that foreign liquidation in the stock market would shortly cease scattered evidences of trade improve- ment, not conclusive perhaps, but very encouraging, and, finally, the action of the market itself, which seemed to show a strong technical position. All the popular speculative mediums, industrials, rails and utilities, nhnred more or less in the advance. Per the most impressive was the rally b United States Steel, which above 71 was at the best of the current recovery. ‘There is still doubt as to the action of the directors on the dividend a week from today. but those best informed be- lieve that the rate will be inaiutained at $1 quarterly. If the trade reviews Wednesd: should prove favorable, it terest. Opening Is Higher. Opening_prices were higher. .. The arrival of copper producers for | the coming world-curtailment confer- ence brought bidding into the red-| metal shares, which were uniformly fractionally higher. United States| Steel common at 697g was up a half point. Foreign developments were reflected in an active and rising London stock market. Sterling at $392 was up 23 cents at the opening here. Formal pro- hibition of gold exports by Canada was not unexpected, as that country, for all practical purposes, has been off the gold standard for more than a year. Flush production in Oklahoma explains the gain in weekly crude oil outpu! American Telephone at 137 was up 174 points. Atchison at 116's Was up only shade, which also was true of Chesapeake & Ohio at 32%. New York Central at 61’4 opened up a point. Unjon Pacific at 117': Standard Ofl of New Jersey at 32 rose !4, its action being typical of the oil shares North American advenced a point to | 391, Public Service of New Jersey at| service we rendes. & ‘Telegraph | | inent but they were nearly all higher. | would be easy to stampede the short in- | gained "‘13 | Special Dispatch to The Star. CHICAGO, October 20.—Fifty repre- sentative stocks listed on the Chicago Stock Exchange at the close of business for the week ended October 17 had a market - ¥alue of $1,149,336.567, which compares with $1.184,682,200 at the close of the preceding week, according to a _compilation by Paul H. Davis & Co. This represents a decrease during the week of $35345723, or 298 per cent. ‘The lnalyllx shows further that at For Investment FEDERAL FARM LOAN BONDS Exempt from Federal and Local Taxes Apprex. 78 79 84 ¥ 5.629, 5.859, 5.75% 43/4 s 85 5.999%, 5's 95 5.67% Legal for Trust Fumds In D. C. Circular on request 4's 4Y,’s 41,’s Waggaman, Brawner & Co., Inc. Investment Bankers 1700 Eye St. * ol * 0000600000000000000000000000000000000¢° roe 000000000000000“0000000'0000000000000‘ Standard Warranty Compare Our Low PRICES. OUR PRICE Li t Price i 5.00x19. \ 525x18.. 6.00x18. . 6.00x20 6.50x20 7.00x18 . 7.00x19. Other Sizes at Proportionately Low Prices BEN IIUNIDLEY 3436 14th St. N.W. (S Adams 8100 ‘00000..00.000.0.0.. 4004 0000'”000000'00000000. 40000000 ’ -_— | *?IHIllllI|I|IIllllllllllllllllmflIIIIIIlIlIlIIIIIIIIIIIl|I|IIIIIIIII!IIIlIlIlIIIIIIIHIIIIIIIIIIII|IlIIIHIllllI|Illl|l|:|II|IIIIIIIIlII|l * We Give Property Management Personal Attention OU will gladly welcome the relief from worri- some details in connection with the manage- ment of your property after you have consulted us and discovered how complete and efficient the Whether it's an apartment house, office building, residence or business property—we take complete charge—and for a very nominal fee. PROMPT Rem ittance Is the INVARIABLE Rule of This Office RANDALL H. HAGNER & COMPANY MomTGAGE. LoaN 1821 Connecticut Ave. F. B. KEECH Washington St BER A x?‘ New Yo Excnanse change el STOCKS New York Chicago Srooklyn Just as Poor Circulation —of the blood causes in- different_health, so lessened dollar circulation brings business ills. % !'Be mindful of possible “rainy days” . . . but now is the time to buy things you really need . . . because your dollar buys so much more, fiChecking as well as savings accounts invited ‘ T oLork Hi llmnnwm Enamber of Commerce National ‘Bremen Cotton Exchange (Assoc. Members) BONDS DIRECT PRIVATE WIRES Detrolt ‘NATIONAL SAVINGS & TRUST COMPANY CORRE SPONDENT v Decatur 3600 i *IIIIIIIIllllIIIllllllllllllmlIII|IlI|'l|||||||ImIlImIIIIIlIIIlIIIIIIIIIlIlIIlIl||I|I|I|III|IIIIII!IllllllllllllllllIIlIIHII“IlIIl i & COMPANY Members of New York Stock !xr.h.nl Exch: Inc. etal Exchange, Inc. - COMMODITIES We are equipped to handle promptly orders on the leading exchanges of the world. H CORNER 17TH ST., N. 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With the countless advantages that add to the prestige and dignity of this desirable business setting at no higher rentals than ordinary office space, it will be distinctly to your advantage to inspect several choice rooms and suites that are now available. OFFICE SPACE Partitioned and Finished to meet your requirements. IN‘ Spite of Its Outstanding Advantages, EAVER BRO o REALTORS ortgage Loan Correspondent Metropolitan Life Insurance Co.