Evening Star Newspaper, November 17, 1931, Page 13

FINANCIAL. BANKRUPTCY LAW - CHANGE IS URGED Attorney Shealey Explains Handicap Now Placed on “ Local Business Men. <. BY EDWARD C. STONE. “¥he metropolitan district of Wash- | h,.nn. including the Maryland coun- | tits, of Montgomery and Prirce | Giorges, as well as Arlington County, Viijand the city of Alexandria, pre- a special bankruptcy problem for logal business men, according to R Prfston Shealey, Washington counsel 1@ the National Retail Credit Associa- , who addressed the Associated Re- "Credit Men of Washington at a luncheon today at Woodward & Loth- | s tea room. ttorney Shealey, who is a member ‘&/‘the Attorney General's Bankrubtey lorm Committee, told local retailers tist merchants in this city are debar- Téf from being elected as trustees in bamkruptcy within the metropolitan area ufifess they happen to be residents of that area or have places of business in. the population and stores increase in/the metroploitan area this problem wndernd increasingly important and . Shealey explained that several cases within the past year or two have al- ready demonstrated the necessity for an ndment, to the bankruptcy act, per- ing Washington business men to act astrustees in that area. #redit men, he said, are hopeful that when the forthcoming bankruptcy re- visfon bill is presented in Congress it contain an amendment rectifying situation to the extent, at least, of itting local men being elected as irfiptees in bankruptcy in these nearby and Virginia counties. The matter has been called to the attention of the Department of Justice. Fifth District Trade Notes. Unusually warm weather has slowed up Fall trade in most of the 12 Fed- eral Reserve districts, the Richmond district being included. While this area had the best record in retail trade in the country, trade has been disappoint- ing so far is November. ‘The Richmond Reserve Bank reports that the paper industry is becoming more active and workers are being re- called in numerous Virginia plants. ‘The outlook in this industry is consid- ered the brightest in two vears. It is expected that the voluntary agreement of shopmen on the Chesa- peake & Ohio system to go on a five- day week will give employment to sev- eral hundred skilled workers. The Atlanta district reports that de- partment store sales are now ahead of last year and that there is a gain in building permits. Bibb County, Ga., has planned a $100,000 bond issue to aid the jobless. National Banks’ Resources. Aggregate resources of the 6,658 re- porting national banks in the United States, Alaska, and Hawaii, on Sep- tember 20 were $25,746,064,000. Con- troller of Currency John W. Pole an- nounced yesterday. ‘This figure was $1,896,634,000 under that of June 30, 1931, when there were 6.805 reporting banks and $2,632,619,- 000 under that of tember 24, 1930, when there were 7, Loans and discounts amounted to $12,479,935, rediscounts a decréase of for the three-month $2,173,143,000 for the 12-1 mlber nmaun to ssmavnum & drop of $1818, 856,000, since’ June and of $2,101,- 933,000 since last September. ° Heavy Trading on Exchange. Trading was unusually heavy on | the ‘Washington Stock Exchange _today, bonds again coming into their full share of popularity. The market opened with $3,000 Capi- tal Traction 5s chauging hands at 71. ‘The next sales were in Potomac Elec- tric Consolidated 5s at 10215 and 102, followed by sales in w-hmmn Gas 6s, series B, at 103}4 and 1 Washington Railwa) came out at 86l In sales. ‘ash Gas, series A bonds were also in good demand and there was an active turnover in City & Su- burban 5s and Anacostia & Potomac 5s. In the stock division Capital Traction sold at 23 and 23% in several small lots. Potomac Electric er 6 per cent pre- ferred and 5'; per cent preferred fig- ured in several sal ~-dividend, while eight shares of American Security & ‘Trust Co. stock moved at 300, ‘The annual mee of the Stock Ex- change will take place tomorrow after the regular trading session. Larner Memorial Printed. ‘The memorial tribute paid by Dr. Jo- seph R. Sizoo at the funeral of John B. Larner, president of the Washington Loan & Trust Co., has been published by the New York Avenue Presbyterian Church, which Mr. Larner attended, including expressions by the trustees and the deacons. In Dr. Sizoo's tribute appears the following “Few men have had such variety of interests. Though & man high in the affairs of the business world, he helped direct the genius and policy of a great university and was a director of ¢ lead- ing theological seminary. What a di- versity and nobility of mind was his. There came from his fluent pen what he loved best to do—many an apprecia- tive memorial of the deeds of those who once walked among men. “His radiant soul threw beams of light into many a darkened window of earth. He had a glorious capacity for friend- ship. Those who knew him for a friend knew he was the best friend they ever had. They will never have another like him. Perhaps none is entitled to more than one such friendship on earth.” Sales Conditions Reviewed. ‘The Monthly Review, put out by the National Association of Credit Men, has Leen received by the local association. It is stated that sales and collections 2re spotty, but are not being forced to Jower levels. Sixty-two per cent of the Teports show fair sales, but collections are off 4 per cent. Good collections are reported in Washington, Terre Haute, Ind., and Utica, N. Y. Loeal Financial Notes. ‘Word has been received from Phila- delphia announcing the death of Joel G. Clemmer, for many years treasurer of the Lanston Monotype Co. He died Saturday of pneumonia. Dr. H. C. Parmelee. formerly editor of Chemical and Metallurgical Engineer- ing. has been elected a vice president of the McGraw-Hill Publishing Co. He isa mtmbfl' of the Cosmos Club. SILVER QUOTATIONS NEW YORK, November 17 (Special). ; —Bar siiver was quoted today at 31%y | cents, off 1:. NEW YORK BANK STOCKS NEW YORK, November 17 ©ver-the-counter market: »— America . hat Phen Mnmrrrul Nati® Natl N ¥ 1 LA 23 187% 102 195 23 2815 1315 24 lus. 106 1854 12 12 THE EVENING STAR, WASHING NEW YORK STOCK EXCHANGE mfiymfimmhn-!wm — e and Low. Divigend Rate. 2\. Abitibi Pwr & Paper. Abitibl Pwr&Pap pf. Adams Express (1) Air Reduction (1434, Airway Elec Appl Albany Wrap Paper Allegany Corp. Alleg Cp pf $30 Allled Ch&Dye (n§). Allis-Chalmers (1) Amerada Corp (2). .. Am Agri Chem(Del)., Am Bank Note (13). Am Can Co (+5) Am Car & Fary (1) Am Car & Fdy pt (1) Am Chicle (13)..... Am Comel Aleohol Am & For Power. Am & For Pwr 2d pf. Am Hide & Leather Am Flome Prod 4.20 AmTce (2).... s Am Ice pf (8) Am International Am Locomotive (1). Am Lc'rotive pf (7) Am Mch & Fay 1.40. Am Metal Co Am Metals pf Am Natural G Am News (133) Am Pwr & Lt (31 Am P&L! pf A st(5). Am Radiator (80¢).. Am Rolling Mills, Am Shipbullding (5) Am Smite&Ref (1%) Am Sm&R 2d pf(8) Am Sm & Ref pf (7). Am Solv & Chemical Am Solv & Chem nf. Am Steel Foundry . Am Stores (1214 ) Am Sugar Ref ( Am Snear Ref pt (1) Am Tel & Telex (9). Am Tohacco (8) Am Tobacco B (1) Am Water Wks (3) Am Woolen Co pf Anaconda Copper Archer-Daniels (1 Armour of Del vt (1) Armour of 111 (A). Armour of 11l (B). Armour of 111 of. Arnold Constable. Associated Appare 9% Associated Dry G(1) Atch To&S Fe (10). . Atch To&S Fe pf (5) 914 Atlantic Refining (1) 5 Atlas Stores (1). 8414 Auburn Auto (£4) 4 Raldwin Locomotiv Balto& Ohio 4). ... Ramberger pf (6%). Bang & Aroos pf (7) 4% Barnsdall Corp'n. IM Bayuk Cigar (3). Beatrice Cream (4). Reatrice Crm pf(7) Beech-Nut Pkg (3) Rendix Aviation (1). Rest & Co (2). Rethleham Steel (). R{pv\ Knox (50c). oomingdale pf (7). 3ohn Alumn (14).. Bon Ami (A) (15) Borden Co (k3). Bore Warner (1), Rrizes Mz (11%).. % Brockway Mot Tl Rrock Mot Tr pf Bklvn-Man Tran (4) % Rruns Term & Rwys 4% Bulova Watch 3 Burnk Broa(A) v.t.c. 10 Burronch A M(+134) 15% Bush Terminal(2%) 114 Butte Copper & Zine. % Ritte & Superior. 1254 Rvers (A M) Co 10% California Packin; 215 Calumet & Heo . 14 CanadaDryGA (3. 11 Canadian Pacific 1% 514 Capital Admin (A). 334 Case (JT) Co. 113 Caterpiliar Trac 4 Celanese Corp 2% Celotex Co... 1% Celotex vte ct 97 Cerro de Pasce (1).. 214 Certain-teed Prod 2315 Ches & Ohlo (24). 14% Chesapeake Corp(3). 12 Chi Great Westn pf. 2 Chi Mil StP & Pac. 3% K Mi] StP & Pac pf. 12% Ch) & Northwest (4) 17 Chicago R I&Pacific. 30 Chi RT& Pacpf (6). 32 ChiR1&Pacpf (7). 814 Chickasha Cotton Ofl 8 Childs Company. 11% Chrysler Corp (1), 6614 City Ice&Fuel of 6% 97% Cocoa-Cola (18). 28 Colead P(2%). 71 Collins & Alk pf (7). 81 Colo Fuel & Iron. 16% Columb G & B (1%). 76 Col Gas&El pf A (6). 33 Columb Carbon (4).. 8 Comm Credit (1.60). 15 Comel Inv Trust (2) 99 Comel Inv Tr pf 634 9% Comcl Solvents (1). 4% Comwlth & Sou (30¢) 68 Comwlth&Sou pt () 6% Congolm-Nairn (1) 7% Consol Film pf (2). 61 Consol Gas N Y (4) 93 Consol Gas NY pf(5) 9'4 Consol Laundries(1) % Consol Textlle. 2 Container Corp % Containar Corp (B) 5% Contl Baking (A). . 40 Contl Baking pf (8) 31% Contl Can (214) 1915 Con” Insur (2.40 14 Cudahy Packing (4). Curtis Publish (4). 1% Curtiss Wright 81 Cushmanspf (7). 12 ‘utler Ham 4 Davison Ch 92! Delaware & 29'5 Del Lack & Wn (2) Dczron Edison (8). ond Match (1). Diamond Mech pr1% Dome Mines (1). Domn Stores (1.20). Doug Afreraft(t1%) Drug Corp (4). Dupont de Nlm (4) Du Pont f 428 53s 214 Elec&Musieal instru 1'5': Elec Pwr & Lt (1) & Pub Sve (1.60) g Pub Sve pf (6) reka Vac Cleaner. s Auto Prod briel Co (A). 2015 Gaewell Co (3). 38, Gen Am Tank C 9% Gen Asphalt (2 14% Gen Baking (2) 98 Gen Baking pt ( Gen Bronze . Add 00. 3 1 10 o S o EEE N Bea e~ o B2 1IN TN S o o o S [UTOY VIR | TP 1V PSSO 104 T 13 18 4 106% 10% 55 104 8 13 FLIFTI4 L+ ++++1+1 + +L0LL L+ JE Eeestes sold in 100-share lots excent those desipnated by letter “s.” ey Btock Bares— Net. High. Low. Olose. Chse a0 AN P FERRE e PEES FEFERE FEE ——1981—y H 29'y 26 1314 89 4n 192 1% 3¢ 51 179% 67l 80% 126 1234 83% 39% 50% 143 94 227 94 uw 90% 607 2 19% 5% 75 B8y 16% 8tock and Low. Dividend Rate. 214 Gen Gas&El A (e30c) 30 GenGas&EIDfA(S). 22} Gen Ital Ed EI m! 61 92 Gen Mills pt ( 224 Gen Motors (!) 85 Gen Motors pf (5). 5% Gen Outdoor Adv(A) 4% Gen Public Service 22% Gen Ry Signal (5). 1% Gen Realty & Util. 17 Gen Realty & Util pf. 15 Gen Retractories (1) 14 Gen Theatre E 914 Gillette Saf Ragor, 8 Gimbel Bro 415 Glidden Co. 16 Goobdyear T& R (3). 5714 Goodyear 1st pf {7).. 3% Gotham Silk Hosfery 5% Granby Con Min (1 814 Grand Silver Stor 7 Grand ('nfon.... 20 Great Northn pf(4). 2 Great Northn Ore(2) 5% Great Western Sug 1% Grigsby Grunow. . 6 Gulf States Steel ‘e Hacken Wat pf 2% Hahn Dent St 11 Hall (WF) (1.30) 74 Hannapt (7). Harb & Walker (1) Hartman Corp (A).. Hartman Corp (B) Hayes Body Corp. Helme (GW) pf (7)., Hercules Pow pf (7) Homestake M (1. Houston Ofl. Houston O1l (new).. 214 Howe Sound (). T, Hudson Motor (1 3% Hunn Motors 17% Illinois Centrs 1% Indian Motor Cycie 21 [ndust Ravon (4) 45 Ingersoll Rand (4) Inspiration Copper. . Interboro Rap Trans Int Agriculture pf. . Int Bus Machine(n$) Int Cement (4)...... Int Comb‘llu.l Int Harvester (: Int Hydro El A (e2. Int Match pf (4). Int Nickel of Can Int Paper & Pwr (A) Int Paper & Pwr (B) 914 Int Paper & Pwr pf. Int Salt (3) Int Silve ¢ Int 811 Int Tel 71 Intertype Corp. 24 Jewel Tea (4) 29'4 Johns- Manvill 105 Johns-Manv pf (7). 99 Jones & Laugh pf(7) Kansas City Southa. 4 Karstadt (Rudolph). K’'mann Dept Stra(1’ % Kelly-Spring Tir Kelly-Spr T 8% pf. Kelrey-Hayes Whe Kelvinator Corp. .. Kendall Co pf (6). Kennecott Copper(1) Kimberly Clark 2% Kroezer Grocery (1 40'x Lambert Co (8) 17 Lee Rubber & Tir¢ 34 Lehigh Valley Coal 35 Lehman Corp (3) Libbey Owens Glas: Ligg & Myers B (15) Lima Locomot (m2). Link Belt (1.60) Ludium Steel p nd & Forbe: McCall Corp (2%). Mcintyre Pore M(1 McKeesport T P (4). Mciesson & Rob (1). McLellan Store: MackTrueks (2). Macy(RH)& Co(n3). 7% Magma Copper (1) ManhatElev mod gtd Marine Midld (1.20). Marmon Motor Car. . Marshall Field (2%) Mathleson Alkill (3) May Dept Strs (234) Melville Shoe (2).... Meéngel Co. % Miami Copper. Mid Continent Petm. Midland Steel (3). Minn Moline Pow Missouri Pacific. ... Monsanto Chem (1% ) Montgomery Ward. . Morrell (J) & Co (3) Motor Wheel (50¢).. Mullins Mfg pf 37% Nat Biscuit ( 15 NatCash Reg A1 20% Nat Dairy (2.60). 130 NatLead pf A (7). 14% Nat Pwr & Lt (1) 14 Nat Ry Mex 2d pf. 1814 Nat Steel (3). 10's Nat Supply Co. 40 Nat Supply pf (7). 18 Nat Surety (2). 8 NatTea (1) 120 N Y & Harlem (5)... 301 NY N H& Hart (4).. 80 NYNH&HDI(T), Y Ont & Western 112 Norf& 315 North Am Aviation. 26 Nor Amer(b10%stk) 19% Northern Pacific 3) 35 Norwalk Tire & Rub. 6% Oh10 Ol ....... 1 Oliver Farm Equip.. 7 Orpheum Circuit pf. 2014 Otis Elevator (2%) 3% Otis Steel.... 16 Otis Steel pr pt 42 Outlet Co (4) Z9m Pacific Gas & EI (2). 35 Pacific Lighting (3). , 100% Pacific Tel&Teleg(7) 21 L3 4 Packard Motor (40c) 20 Pan-Am Pet B (80¢). 10% Par-Pub (b10% stk). 7% Park Utah........ % Pathe Exchang: 214 Pathe Exchange (A). 4% Patino Mines. 2 Peerless Motor Car.. 22 Penlck & Ford(11%) 284 Penney (J C) (2.40). 1 Penn Dixie Cement. 6 Penn Dixie Cmt pf. 291 Penna Rallroad (2).. 129 Peoples Gas(Chi)( 41 Petm Corp of Am(1) 6« Phelps Dodge Co. .. 38, Phila&Reading C& 1 4% Phillips I:olroloum.. o1 % Pierce Petroleum. ... 20% Pillsbury Flour (3).. 264% num (A) (m3.13) 6 Pitts C 3% Pittsbgh Screw & B.. 3 Poor&Co (B)... Bates— Add 00. 7 108 3 - I3 = PP~ PN ot - PR P Ie ey -3 _..N_?_ NS N RN AN RO AN RS AN AR oF ~neRnn 1 1308 9 1 508 108 15608 1 508 Cl 2 " Port Ric Am Tob(A), B 814 Postal Tel&Cable pf. 53 Prairie Oll & Gas., . 7% Prairie Pipe Line. . 39% Proct & Gaml ‘2.40) 100 Proc &Gamb p1 (§).. 1'4 Pro & Refiners. .. 517 Public Sve NJ (3 40 112! Publie Sve N J pf(7) 97 Pub Sve GEE of (5).. 22 Pullman Corp (3). 6415 Pure Ol pf (3 12% Purity Bakeri lio Corp. 28 Radls Corp (B (5) TON, D. C., TUESDAY, Net. Low. clou Chll o 2| b4 27 Lt Al i Y | (Continued on Page 14.) E S +41 FERE FER T A RS RE AR SR A I & + 1 &5 *lalthough it is expected that the trade £ 2 :::::::F::: & F o P +4+ + | 0 k3 444 44+ b+++ t1+4 FE FEEE F FEEd Fir FrrE +1 R an +1 Fxs £y F2 ¥ | sulted in a sharp curtailment of “coal | |STOCKS IRREGULAR ASRAILS SELL OFF Continued Weakness in Car- rier Issues Checks Ad- vance Elsewhere. BY GEORGE T. HUGHES. Special Dispatch to The Star NEW YORK, November 17.—There were times today when the general stock market seemed to be pointing higher and disposed to rally somewhat from the long decline which has erased half of the recovery registered between Oc- tober 5 and November 9. Its handicap, however, was the persistent weakness in railroad issues, fPecmly those which have the most influence on speculative sentiment. With New York Central again below $40 a share and at the lowest in its history and Union Pacific at 97, & price that has not been duplicated since 1904, and with such other rails as Southern Pacific, Pennsylvania, New Haven, Atchison and Baltimore & Ohio ail heavy, the action of the industrials and public utilities in the forenoon trading was encouraging. Weak Spots. There were a few weak spots in the industrial list. Westinghouse Electrio declined 2 points to a new low price by midday, carrying over Monday's influ- ence of the break in securities with which it Is directly assoclated, and United States Steel lost nearly a point, review tomorrow will show another slight increase in the percentage of ingot production. The mining stocks were dull and irregular, reflecting the confused situation in silver and the un- certainties surrounding the outcome of the conference between domestic and foreign producers of copper. Public utilities acted well, in view of the heaviness in the rails. Motor stocks were from a fraction to 2!; points huher Unusual actlvity occurred in the shares of aviation companies, with United Aircraft and Bendix traded in in quite large volume at substantial ad- vances. The market as a whole, how= ever, was extremely dull. Opening Trend Irregular. Price trends were mixed at the open- »|1ng, but gains predominated. A probable break-up of the Copper Curtailment Conference without any constructive conclusion being reached caused irregular price movements in that group. Most of the oils, including Stanaard Oll of New Jersey and Stand- ard of California, were higher despite the weekly gain in output. American Tele) Ehone opened at 137, up %. A block of 1,200 shares of United States Steel opened at 67', un- changed. General Motors was a shade higher at 27),. American Can, at 80, was unchanged, and 80 was Westing- house Electric at 40';, but General Electric was slightly lower lt 290%. lied Chemical, at 86'; d J. at 473, both ined sl [htly as Na- tional Dairy, at 20!;, and Eastman Kodak, at 106, rose l point. Pennsylvania, at 30%, was up 5 Southern Pacific gained a shadeat 43%, | but New Haven lost % at 31% and Baltimore & Ohio was down the same amount at 32. In the coppers, Ana- conda opened at 16%, but the low cost producers, such as Nickel and Kenne- cott, opened up nll‘huy ‘The recovery in silver in London firmed Cerro de Pasco. e U. S. TREASURY BALANCE. The United States Treasury balance, announced as of close of busi- ness November 14, was $185,114,327.63. Customs receipts for the month to date were $13,396,284.94. Total ordinary ex- penditures were $9,155,147.65. CLEABIN(; HOUSE FIGURES. ‘Washington clenrlnl house figures for today, $4,087,182.6 Coal Output Curtailed. By the Associated Press. Observance of general election day re- production during the week ended Nc- | vember 7. The total output, for com- parable weeks follows, as maesured by the Bureau of Mines. Week ended No- vember 7, 7,664,000 tons; precvious week, 8016000 tons; same Week last year, 9,708,000 fons. - FOREIGN EXCHANGE. (Quotations furnished by W. B, Hibbs & Co.) minal sold Selling cn el "o Oelo " Tiown. Stockzolm, Is Your 1st, Ind or 314 Trast Duet MR. FRIEDMAN 416 5th St. N.W., Room 707. NAT. 4519 E ARE glad to have w Trust Loans—on NOVEMBER 17, * (TN Money Available for Mortgage Loans 1931. Bell Gives Notice Of “Big News” to Exchange Traders By the Associated Press. NEW YORK, November 17.—These are days whea the average board room trader con ill afford to be late in fa- miliarizing himself with-the important news developments. With that end in view one of the Wall Street news serv- ices operating & new ticker system, com- monly referred to as the “broad tape,” has inaugurated a new medium of call- ing_attention to what it éonsiders the really big news features coming out in the course of the day. A bell has been installed in the tick- ers operated by this organization, and just before sending of an important news release s begun, the bell rings. The sound of the signal naturally turns attention momentarily at least from the quotation board o ihe news ticker. MARYLAND BANKS PLAN REOPENINGS State Commission Puts New Method Into Effect at Ocean City. Special Dispatch to The Star. BALTIMORE, November 17.—A plan of the Maryland Bank Commission for reopening numerous banks throughout the State has been put into effect at the Ocean City Bank and within a month is expected to bring about the opening of seven others. ‘The others expected to adopt the plan include the Commercial Bank of Maryland, Frederick; the Hancock Bank; Mechanics’ Loan & Savings Bank, Hagerstown; Provident State Bank, Preston; the Queenstown Bank, the Detour Bank and the Middletown Savings Bank. John D. Hospelhorn, deputy State banking commissioner, explains the commission’s plan involves, in addition to reorganization of personnel and in- duction of new capital, the acceptances by depositors of two new rules—one limiting the size and frequency of withdrawals and the second providing, by using 25 per cent of the depositors’ liability, & guaranty fund to maintain solvency until improved conditions make the existence of such a fund un- necessary. As the new capital being recruited for the closed banks is coming en- tirely from private sources, it was pointed out, the reopening of the group will be accomplished independently of the National Credit Corporation, re- cently established by the Federal Gov- ernment for relief of small banks. Ofl'lce Space Saul Building 925 15th St. NNW. One Large Office at $52.. Suite of 4 rooms at $92.50 per mo. All outside rooms. assuring abundance of light and air. Excellent service. In the heart of the financial district, B. F. SAUL CO. National 2100 925 15th St. N.W. Money toLonn g red by first dee rtvaling nteres com Jolepll I. Weller &3 WHEN YOU NEED A LOAN ON IMPROVED ‘ REAL ESTATE In the District of Colum- bia or Nearby Montgom- ery County, Md. CONSULT OUR MORTGAGE DEPARTMENT 5%% INTEREST QUICK ACTION—LOW CHARGES BOSS & PHELPS Realtors 1417 K St Loan Correspondent John Hancock Mutual Life Insur- ance Co. of Boston, Mass. IlI|IlIIIIIII|I|III|||IIIIIIIIIlIIIIIIII|* your applications for First apartment house, office building, residential or business properties. They shall have our immediate attention and careful consideration. Upon approval, the money will be available at once—for 3, § periods—and at... or lO-year 5% RANDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESPONDENT 1321 Connecticut Ave. Decatur 3600 *t|ulu|um||ulu|w|umllmuuuummlmulummlluuunuummumlumuuuuuumlmunmulmuuuuu * F. B. KEECH & COMPANY Members of New York Stock Exchange washington Stock Exchange New York Curb Exchange Cotton Assoctation. ¥ Ol o Chicago Btock Exchange Chicazg Board of Tra Cotton Exchange uce E; Win e Grain Exchang Coftee & Susar Exchan e, Inc. Rnbb-r change of N. Y. 5 Bremen Cot! GRAINS erce lunonJ #’}‘ ide xumnn fembors) mase: COTTON Continuous Quotations by Ticker. Complete information—silver futures market. We are equipped to handle promptly orders on the leading exchanges of the world. H CORNER 17TH ST.,N. W., WASHINGTON NATIONAL 0245 New York Chicage Brooklyn Philadelphis Detrots ‘Providence FINANCIAL. Both Checking and Savings Accounts Earn Interest —at this bank, and have the protection of an in- stitution which has been serving the public, suc- cessfully, for over s vears. fYou're invited to join our ever-growing iamily of de- positors, whose number now exceeds 55,000, Capital & Surplus $3.500,000 NATIONAL SAVINGS & TRUST COMPANY The Oldest Savings Institution in the District of Columbia Corner 15th & New York Ave. Denostts ted 65th Yr. PROPERTY MANAGEMENT Apartment House MANAGEMENT OU can readily understand the many advantages which will result when you place your Apartment House properties in our experienced charge. Ad- vantages in upkeep, operation and net return to you. Titeny B. F. SAUL CO. 925 15th St. N.W. Nat’l 2100 MORTGAGE LOANS Refinancing at 49 offers the advantages of a longer loan term, and a lower interest rate . . May we prove to you, in detail, the ; substantial savings possible through five and one-half per cent financing. Loan Correspondent or “The PPudential” Prompt approvals — Valuable prepayment privileges e Three year loans on newet properties without amortization. H. L. Rust Company 1001 Fifteenth Street National 8100 B8T ABLILISHED 1889 Opposite United States Treasury It is with justifiable pride that, when we say “desirable” space is offered in Washington's finest appointed office building, we mean that it jo the most distinguished setting for your busie ness available awywhere at such moderate rentals. Service and facilities that characterize the strict standards of the largest and most progressive property management organization in Washington—Accessibility to every business ine terest that no other location can offer—and the Prestige that the character of its tenants reflects ~—are the advantages available to discriminating tenants at no greater cost than in ordinary buildings. OFFICE SPACE Partitioned ond Fiwished to Moot EAVER BR REALTORS Mortgage Loan Correspondent Metropolitan Life Insurance Co. ‘Washington Bldg. Dist. 9486