Evening Star Newspaper, February 3, 1932, Page 13

FINANCIAL. GEORGETOWN GAS EARNINGS 135,108 ngm Bopost Reveals De- 17 pwmos of 521,408 in T et fon B, L. BY EDWARD C. STONE. Wota! net earnings of the George- Sown Ges Light Co. in 1981 were $135.- 208.27, according to the annual report Just. filed with the Public Utilitles Com- mission. ‘This compares with net earn- fngs of $156,592.24 in the previous year, & faling off of $21,483.97 Operating income during the year was larger than in 1930, being $1211.- 90302, compared with $1,070.282.90. Operating expenses were also higher. $998,527.24 against $824,523.13. Total deductions from operating _expenses called for $1,031,364.40, compared with $870,453.37 a yean ago. his left an operating income of $170.638 62, in comparison Wwith $199.- 82053 in 1930. Total deductions from gross ¢ orporate income during tre ar amounted to $6481 against 359 48835 in the preceding vear The Georgetown company also re- ported net earnings for the final month of the year, the December net being 1.14, against $9 th in 1930. Utilities Have Splendid Year. on Gas Light Co. ports to the Utili- g the annual | is report in- | earnings which for the ¢ st only $5.43734 . the The marked difference was largel the operating income, December opera- tions bringing in $174,838.74, compared with $69.047.43 a vear ago. The report for December also includes the yearly \Ahll:h shows a total net in- 141834 against $743.- .pcnu 1931 of $398.- ye showing. The from the ual report ries o have passed ns and | Telephone arnings n Gas the com- reat pleasure’ in an- nouncing _a tion in rates. The Potomac. Electric Power Co. had a net income in 1931 of $4,583224.30. While this was $182,784.85 below the 1930 earnir is corporation also t00k the same “great pleasure” as the gas company In reducing rates The Washington Railway & Co. arnings for [ of $2,030,848.03, against $1.89 1930, Capital Traction was (v")’ success y with the lower t ever, the officials brought ortant economies | the companies are re- g a great deal of praise for the year's sl g. It is believed here that few companies anywhere else in the try have made such enviable racords Reserve Bank Most Useful. irison with figures for Jan- last vear, those shown on the it of the Federal Reserve Bank of Richmond for January 15, 1932, in- dicate a much heavier reliance this rear on the Reserve bank by member Junts rose $21,404,000 car, nearly doubling the 1931, figure, and the Federal Reserve notes in tion was $20,053000 higher on 2 date During the year, member banks re- duced their reserve deposits by $10,52! Richmond reserve bank de- its portfolio of assets other ; $5.214,000, but the increase in rediscount holdings he total earning assets of the bank by $16,190,000 during the year. The increased demand for 'reserve bank credit this year lowered the cash reserves of the Federal Reserve Bank of Richmond by $6.162,000 below the relatively high figure on January 15 1931, and also reduced the ratio of cash reserves to note and deposit liabilities combined by 8.62 points. the bank says in its review of the year. Railroad Directors Named. At the annual meeting of the stock- Tholders ashington and Rock- ville Railway Co. held at the office of the company in Rockville, the following directors were_elected Woodbu S. Russell Bowen, Robert V. Fleming, William P. Hamm, N. Harper. Julius A. Kaiser, Cloyd H. Marvin, Clarence F. Norment and Eugene E. Thompson The directors, it was stated, will meet n the near future to select officers. 500 Dinner Attendance Likely. Aubrey O. Dooley, president of Wash- ington Chapter, American Institute of Banking, and I. J. Roberts, chairman of the Dinner Committee, were highly elated today over the prospects for the annual banquet, which takes place at the Willard on Pebruary 13. They now feel sure the attendance will pass the 500 mark, which will be a brilliant showing in these days when money is not hanging on bushes. Several banks which have not been particularly in- terested in institute affairs in the past are displaying a much more active con- cern this year. This additional help is especially pleasing right now. Capital Traction Stronger. Capital Traction was stronger on the Washington Stock Exchange today, al- though trading in the issue was lght. Five shares changed hands at 19 Mergenthaler Linotype again sold at B1 on a small-lot transfer, while Poto- mac Electric Power 53 per cent pre- ferred moved at 104 The first bond sale was in Washing- ton Gas 6s series A, $100 selling at 99%. Later in the session Capital Traction 5s figured in $1000 and $500 sales at 59. Following the February 1 dividend payments, not a stock on the local exchange is now being quoted ex-divi- dend, rather an unusual situation. Heard in Financial District. W. W. Spaid, partner in W. B. Hibbs & Co, Is taking 10 days off and is now basking in the breezes at Miami Beach. Directors of the Boston Federal Re- serve Bank have elected Thomas M. Steele, president of the PFirst National Bank & Trust Co. of New Haven, Conn., as a member of the FPederal Advisory Council to represent the first Federal reserve district Claude G. Woodward, president of the Mount Vernon Savings Bank, who is chairman of the Convention Com- mittee of the District Bankers' Asso- ciation, has nearly completed his com- mittee for the June meeting. Jay E. Mason, publishing director of Business Week, will address the Advertising Club of Washington at its Juncheon tomorrow noon at the Raleigh Hotel. He will disouss subjects of cur- Fent importance. The S. S. Kresge Co. has voted the regular dividends dye at this time. The company earned §1.69 a share in 1931, against $1.90 in 1930, Norfolkk & Western directors’ meet- ing has been delayed a week until Tuesday, February 9. Action on com- mon quarterly dividend is due at forth- eoming meeting. STOCKS EX-DIVIDEND NEW YORK, Pebruary 3 (#).— Company. Rate O Atlaniic & Pacific Tea 3130 he Chesapeake had a gain of $667.396 An\ so large t! uary statem has | as 869.35 in the like | month | y in | —_— 23 1675 102 45% 28% 18% 21% T8%. 107 124% 185% 2% 114 T4% 110 4% "4 60% 9814 108% 45% 49 9% 36% 25 271 56% 104 21% 66% 63 % 3 % 6434 3% THE EVEN NG STAR, WASHINGTON, B0, WEDNESDAY, FEBRUARY 3, 1932 NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to' The Star Offfce. d I 100-share Jots except thor ; desigmated by letter Stock and Bales N Low. Dividend Rate Add 00 Hish. Low. Close. Cnxe 4% Abitibi Pw - & Pa pf. 7 (AR 314 Adams Express..... 4% A% % 2 Adv Ruml 3 3 1214 Afilated prod 1.60. JVRS V1 47% Afr Reduction(143). 50 .60 — % 7 Alaska Juneau (50c) 15 15% + % 1% Alleghany Corp. 21 2% 2 AllegCppf 330w B% 6 1% Alleg Cp pf $40 ww. 6 6 1% Alleg Cp pf $30 xw.. 5% B% 64 Allied Chemical (6). 67 68y 100 Allied Chem pf (7) 117, 147 103 Allis mers(50c) 1% 1% 12% Am Bank Note (2).. 13y, 18% 1315 Am Br Shoe (1.60) 12% 12% 584 Am CanCo (15)..... 604 Am Car & Foundry . . 7% Am Car & Fdy pt (1) 28% Am Chain Vo 5% Am Chicle (12) 33 Am Colortype 5 ‘Am European Secur. 9 Am & For Power. % ‘Am & For Pwr pf(6). 23 ‘Am & For Pwr pf(7). 28 Am & For Pwr 2d pf. 14 ‘Am Haw St'ship (1). 5% Am Home Prod 4.20.. 44 Am International. 10 53 Am La Fr & Fom pf.. 10s 4 Am Locomotive..... 1 8 Am Locomot pf(7).. 1508 35 Am Mch & Fdy 1.40.. 2 Am Metal Co.. Am Metals pf. . Am Pwr & Lt (31). ‘Am Pwr & Lt pf (6) AmP&LtptA (5).. 4 Am Radiator (40¢).. 23 Am Radiator pf (7).. 1008 Am Rolling Mills.... 8 Am Safety Razor (5) Am Smit & Rfg(50c) Am Solv & Chemical. Am Stecl Foundry gar (4) Am ar pe (7).... Am Tel & Teles (9) 5 Am Tobacco (16) Am Tobacco B (16).. Am Tobacco pf (6) Am Water Wks (3).. ‘Am Woolen Co. ‘Am Woolen Co pt. ( Am Zine & Lead. ‘Anaconda Copper Anchor Cap (2.40). Armour of 11 (A). Armour of Tl (B)... Armour of TN pf. . Arnold Constable Associated Apparel.. e (6) 4% 205 . 2008 13 Powder (4) tlas Powder pf (§) Auburn Auto (f4) ation Corp (Del) dwin motl altimore & OR10. ... Balto & Ohlo Df (4).. 1% Barker Bros. ok 4 Barnsdall Corp. . 60 Bayuk Cig 1st pf(7). 37 Beatrice Cream (4).. 90 Beatrice Crm pf(7) 1% Belding-Hemingway 194 Bendix Aviation (1). 19% Best & Co (2) 17% Bethlehem Steel 60 Bethlet Sth pf ( 44 Bohn A n (113) Borden Co (3). . Briggs Mfg (1) i Bklyn-Man Tran (4). ~ Bklyn-Man Tr pf (6) Bklyn Union Gas(5). Brunsw-Bi PereT ' Frdssd hs Add(80c) Bush 1 deb (7)) Butte & Superior 3vers (A M). 1) ¥ alifornia Packing. « alumet & Hecla “anadian Pacific 1% « nnon Mills (1.60).s ase (J 1) Co. aterpillar Trac (2). anaugh-Dobbs pf nese Corp. .. elotex pf. ... Cerro de Pasco (1) Checker Cab Mfgr. Ches & Ohlo (214).. “hesapeake Corp(3) “hi & Eastern 111 pf. “hi Great Western. .y hi Great West pt. “hi Mil StP & Pac... “hi Mil StP & Pac pf. hi & Northwestern.. Pneu Tool. . . “hi Rock I & Pacific. *hi R 1& Pac 6% pf. *hickasha Cotton Oil Burrc 2EEEE & &5 [ « « « 5 « IS c Bew » » RN A ONBNE W R N “ity Ice&Fuel (3.60 Sity Stores “oca-Cola (18). Cola (A) (3)... te-Pal-P (2%).. Columbia G&EI(b1% Comm Credit (1.60) .. Comcl Inv Trust (2). Comcl Iny Tr pf 6% . Comcl Solvents (1).. Comwlth & Sou(30c). Comwlith&Sou pt (6) Congolm Nairn (1).. Consol Cigars (5) . Consol Film pf (2).« Consol GasN Y (4).. Consol Gas NY pf(5) Consol Laundries(1) Consol Rwys pf (6).. Consol Textile. - Contl Baking (A).... Contl Baking (B). ... Contl Baking pt (8) .. Contl Can (2%). .. Cont Diamond Fibre. Contl Motors. . . Contl Of1 (Del) 36% Corn Products (3 118 Corn Prod pf (7) 10% Crex Carpet 2 1% Crown Zellerback. 1 Cuban-Am Sugar 6 Cuban-Am Sugar pf.. % Cuba Co..... -4 29 Cudahy Packing (4)« 1 Curtiss Wright. )y 1% Curtis Wright (A).. 3% Davison Chemical. .. 13% Deere & Co pf (1.40)« 64 Delaware & Hud (9)« 17% Delaware Lack & W.. 333 Denver & RG W pf.. 19% Diamond Mtch pf 1% 6% Dome Mines (1). 7% Douglas Aircraft ay 42% Drug Corp (4). : 50% Dupont de Nem T 94 Dupont de N pf (6).. 77 Eastman Kedak (18) 5% EatonAxle& Spr50c % Eitington-Schild 20 Elec Auto Lite (4 94 Elec Auto Lite pf( % Electric Boat.. 2%4 Elec&Musical Instru 9 Elec Pwr& Lt (1)... 32 ElecPwr& Lt pf(6). 41 Elec Pwr&Ltpf(7). 23% Endlcott-Johnson(3) 15 Eng Pub Sve (1.60) .. 5 ErfeRR 18% Equit Office Bldg 2%, 10 Exchange Buf (25¢) . 10%4 Fed Dept Stores (D.. 1 20 Fid Ph Fire In(2.60). 1 85% Filene's Sons pt'6% .. 3908 12% Firestone T& R (1).. 1 46% Firestone T&R pf(6) 1 41 First Natl Strs (2%). 4 3% Fisk Rubber.......a 16 2608 108 Do 30% 21 1 44 FEEE 444 RO m©namNN~~ = > - s & w0 & 263s 1 1 (5 R | LLH 1+ EFEF F FF FEFEFRER L+ . 208 8 8 8 6 1 1 1 2 3 50s 3 Fisk Rub 1st pfcv. 8 Foster-Wheeler. 15% Fourth Nat Inv 1.10. 244 Fox Film (A).. 1 Gabriel Co (A) 15 Gamewell Co (3) 2% Gen Am Investor: 28 Gen Am Tank Car(4) 9% Gen Baking (2) 2% Gen Cable (A). 22% Gen Electric (1.60). 10% Gen Elec spec (60¢) . 2814 Gen Food Corp (3) 1% Gen G&E A (b6 % stk) 2914 Gen Mills (3) . 85 Gen Mills pf (6).. 21 Gen Motors (3) W J& &.&:’ 1114411 FETEFET 12 2 221 3 14 2 I High. 28 23 844 9% 57% 16's 38% Th 164 4214 117 2078 b2% 6l i 0% 126 1234 18 i 26 15% 3ty 217 93 11 90 57 60% 19' 58 16% Otis b4% 69% 26 11% 36 20% 504 2% 46% 4% 100% 19 3‘0 10% 25% 12% 12% 16% 1% 23% 3% 37 39% 28 18% 27 39% 20% 264 T 14 112% 9614 107% 584 ——1981—— Low 3 26 11% 60 26 68 70% 81 214 5214 '« Houston O11. 37 T 52is 158 83% 68 5l 3 Kroger ( Sales - Net Add 00. High. Low. Close Chee. [N 612 314 315 23% 23% — Stock and Dividend Rate Gen Outdoor Adv (A) 1 Gen Public Service Gen Ry Sig Gen Realty & Util. Gen Refractorfe: Gen Theater Equip Gillette Saf Razor... Gimbel Br . Glidden Co. . Gold Dust 13 o o e 1o e (.unmm.:nn e car T & R (1). Palge. ..... v Consol anite City St it (W T) (1) Grigsby Grunow. Gulf States Steel Hall (W F) 1 Harb & Walker (1). Helme (GW) (1 Hercules Powder (3) . Hershey Choc (6). Hershey Choc pf 15.. Homestake M (7.80). Houdaille Hershey Household Fin pt 4.2( s R Houston Ofl (new). . Hudson Motor (1). Hupp Motors nols Central Indust Rayon ( ngersoll Rand (3).. Inland Steel (2) Ins Shares(Del) boc. Interboro Rap Trans Intercontl Rubber Interlake Iron. Int Agriculture. Int Bus Machine (n6) Int Combustion Int Harvester ( Int Hydro El Int Mateh pf (4)... 1ut Nickel of Can 20c Int Paper & Pwr (C). Int Printing Ink. Int Shoe (3).. Int Tel & Teleg (60¢). Interst DS pf xw (7). s Aot %) 24 308 208 108 Johns-Manville (1) Johns-Manv pf (7). . Jones & Laugh pf(7) K'mann Dpt Strs(1). Kelly-Spring Tire. .. Kelly-Spr T 8% pt Kelvinator Corp IKennecott Copper 5o Kinney (G R) Co pt Kresge (SS) (1.60). Kreuger & Toll 1.61 ery (1) Tambert Co (8) Lee I &T Leh Po Lehman A L J\’x an 16% 6% [ 15 20 5 15 12% ™ 105% 651 2% 26 40t 14'% b4 29% 35 ™% 3% 18 5 5% Kl 22 26% 9% 2% 16% 107 2% Libbey Owens Glass. Liggett & Myers(15) Ligg & Myers B (15) Loew's Inc (t4) ']m- . rd (P) (1.2 Lorillard (P) pf ¢ La Oil pf ( Lou Gas& McKeesport T McKesson & Robbins Mack Trucks (1) Macy (RH)& Madison S Mar + Mav Dept Maytag Co Met-Gold Pic pt 1 SRS i Pacific pf. o awk Carpet. ... 17 Motor Meter ¢ Motor P Mu Nash Nash Chat & at Bella 1less at Biscuit (2 Nat Cash Reg (A) 7 Nat Dairy 14 208 1 108 18 1 108 1 3 Nat Dist Prod ( at Lead pf B (6) at Pwr & Lt (1). at Steel Nat Supply Nat Surety (2 Nat Tea (1) Nev Con Cop (40¢) ewport 1 3 Y Cen o 192 Y Chicago & StL.. 1 Y Chi & St L pf. 1 Y & Harlem (5 140 Y Inves 2 Y N H & Hartford. Y Ont & Western. . oranda Mines (2) Norf & Westn (112). Norf & Westn pf (4). North Am Aviation.. Nor Amer (b10%stk) North Amer pf (3 Northern acifie (3) ., Ohio Oil. . levator (2 40 10s 14 44 1 18 R %).. 11 Pacific Gas & EI (2) Pacific Lizhting (3) Pacific Mills...... Packard Motor (40c) Pan-Am Pet B(1.60)., Panhandle I’ & : Par-Pub (b m”.;slk) Park Utah.. Penick & Ford (1). .. Penney (J C) (2.40). Penney (JC) pf A (6) Penn Dixie Cmt pf. .. Penna Railroad (2). Peoples Gas Chi (3) Petrol Corp of Am 108 11 3 5% Phelps Dodze Co 2% 8 4 % 35 1 19% 26% 12 3 2 4 4 5% 1% 36% 97 494 8% 15% 3% 53% 10% b4 20 9% 2% 30 84 1% 2% 4 8% 6 32% 10 % 1% 34 13 38% 63% 7 344 8 Phila & Read C& I... Philip Morris&Co(1), Phillips Petroleum. . Pierce Oil. .. Plerce Oil pf. Plerce Potroleum. Pillsbury Flour (2)., Pirelli (A) (m3.13).. Pitts Term Coal pf. . Poor & Co (B). . Port Ric Am Tob Postal Tel&Cable pf. Prairie Oil & Gi Prairfe Pipe Line. Pressed Steel Car. .. Proct & Gamb (2.40). Proc & Gamb pf (5 Public Sve NJ (3.40), Pub Sve GEE pt (5)w Pullman Corp (3). 10; Pure Oil pf (8) Purity Bakerjes Radlo Cor| Radio Corp pf A 3% Radio Corp pf B. Radlo-Keith-O (new), Reading Ry Co (2).. Raybestos Man(1.60) Remington-Rand . Reo Motor Car HDC). Republic Steel. . ... Republic Steel Bf. . <o Revere Copper (A) .o Reynolds Tob B (3) o Rhin W EL P (a1.06). Richfleld Oil. . Rio Grande Oil Rossia Ins of Amer.y Royal Dutch of NY., Safeway Stores (5) n Safeway Strs pf (6) e Safeway Strs pf (7),: St Joseph Lead (60c) St L-San Francisco StL-San Fran pf. ... St Louis Southwn. .« Scott Paper ($1.40). Seaboard Air Line Seaboard Oi Sears Roebuc Second Natl Inv. Servel Inc. ... Sharp & Dohme.. Sharp & Do pf (3%4). 17 18 108 30s 2 4 3 5 90s | continuing 'STOCKS IRREGULAR lPrioe Changes Small, INSIMALL MARKET With, Turnover Shrinking to Light Proportions. BY GEORGE T. HUGHES. Dispatch to Tk r W YORK, tive from th peci . February 3.—Lacking | outside news and ssional opera- | k market was a drift- | mall volume and, gen- meaningless price slightly lower, ction, recov- reacted again. | ome of the General mecting after the divided. It was that maintenance of be a great surprise disbursement or per- estimates g the vered Tuesds ered the loss and Opinion on th Motors divider close was sha ed, however $3 rate wou as belicved tl to § 1ally but thes nd the prece 3 clling. again in supply low for the bear | as been consist- last statement The sold ¢ —— | 3.50; grape ed in trade was not as low | > be when the recent years opeared. | eggpiant, el held within | the price at | allowed to sub- | is an terest- are market changes | ; that this $40 1 the ¢ ices Lower. Rose & of 26 a age of 0 on Januar DIRECTORS JOHN JOY EDSON tirman of the Board JOHN H. CLAPP AUGUSTUS CRANE FLOYD E. DAVIS Bank H. DOING L. WHITING Order ALBERT F. FOX Columbia Nat'l Bank ESTES House | toms receipts FINANCIAL, Washington Produce Butter—One-pound prints, 26; 25. Eggs—Hennery, ceipts, 16ai7. Poultry, alive—Turkeys, old toms, 153 18; young toms and hens, 2022 chickens, 3 pounds and over, 16a18; 2 to 2% pounds, 18a20; broilers, 1% to | 2 pounds, 18; hens, large, 16a17; small, Leghorn_hens, 11; roosters, 10; keats, young, 45850; old, 25a35. Poultry, dressed—Turkeys, 18a21; young toms and hens, chickens, 3 pounds and over, 2 to 2}, pounds, 21; broilers, 2 pounds, 25a25; hens, large, small, 15a17; Leghorn hens, 14; ers, 13; keats, young, 55a60; old, 50 Meats—Beef, prime, 12; medium, 11; lamb, top, 14; medium, 13; veal, top, 15; medium, 14; pork loins, 11; fresh hams, 13; smoked hams, 16al7 strip _bacon, 16a17; lard, 80-pound tins, 614; package, 7; compounds, 6% Live ‘stock—Hogs, light and medium, 4.2524.50; heavy, 3.75a4.00; pigs, 4.00; roughs, 2.00a3.25; calves, 9.00; lambs, 4.00a6.50 Frults—Strawberries, pints, 10a15 quarts, 25a30; apples, bushel baskets, 50a1.25; fancy box stock, 2.50; oranges Florida, 2.75a3.50; lifornia, 3.00a fruit, 2.00a2.25; pears, 3.50a pples, 3.00; grapes, Emper- 4.50; Almeiras, 5.00; lemens, tangerines, 50a2.00; ba- nanas a3.00; all pears, flats, 2.50a3.00; rhubarb, hothouse, 5 pounds 1.25; honeydews, Chile, = 2.50a3.00 plums, Chile, 2.50a3.00 Vegetables — Potatocs pound sacks, 140; New sweets, 50a100; Idaho Bermudas, new, bushel 2.5013.00; squash, white, 2.30a ow, 3.50; peppers, 2.50; Kale, pinach, 50; carrots, 3.50a4.00; bee 5; cauliflow 0. peas tub, 17a19; current re- 23a2! 4.00a g 4,0024.507 s, 1.5 1 100- 115; 240, Maine, York, bakers 1507 6.00a6.50 Iceberg. bers. 4.5 bunches, 24 sify, dozen bunches, 4.50a5 00 new, beans 250 50060, artichokes, 50; cabbage, 1.00; string 1.00a1.25 al acks OOm_ 25; water c 350; ida, 5.00. U. S. TREASURY BALANCE The United States ] February 1, was $648.! for the s. 79 franc loan . on centimes. The 25 francs 43 centimes SILVER QUOTATIONS. NEW YORK 3 () ilver easy and 7 —Bar GOOD INCOME ® Many successful investors attribute their present financial welfareto sound bonds profitably purchased in times such as the present. They bought a good income, well-secured, at bargain | prices. @ Inour opinion, bonds of companies comprising the Associated Gas & Electric System, are a sound invest- ment, combining acknowledged se- curity with attractive yield. | General Utlity Securities 6] Broadway Please send me C 3.50a | tomatoes, | limas, Cuba and Flor- | CHICAGO DAIRY MARKET. CHICAGO, February 3 () —Butter— Recelpts, 4,664 tubs; unsettled. Cream- ery specials (93 score), 21a23; extras ‘ (92 score), 21; extra firsts (90-91 score) firsts (88-89 score), 191220 (86-87 score), 1814a19; stand. ards (90 score, centralized car lots), 21. | Eggs—Receipts, 4,181 cases; unset- | [ tled "Extra firsts, 164217 fresh graded | | firsts, 16; current receipts, 1412al15% NVEST ~—your savings 6% Tecuriies 1 2014220% : s | s Guaranty Corp. 1610 K St. Nat. old toms, | For Convenience roost- | The Metropolitan Life Insurance Company Real Estate Loan Plan. Every feature of this modern method of home financing is developed to en- able the home owner to satisfactorily reach his goal. Small periodic payments at low in- terest rates and satisfactory terms are made for fifteen years. Consult us before fmancing or re- financing your home. Construction Loans WEAVER BRO REALTORS Washington Building Mortgage Loan Correspondent Metropolitan Life Insurance Company Loans made in the District of Columbia and nearby Maryland and Virginia t Mortsage Seund, Convenient Denominations Real Estate Mortgage and 1403 District 9486 —Announcement!—— Babson’s Statistical Organization announces a NEW Supervised Investment Service Applicable to all classes of investors.... Reasonable in price .. Practical in its operation . ... Profitable in its results. . . . and based on tried, true and tested Principles Send Coupon for full information -Babson’'s Reports- Largest Statistienl Communmnisy in America Div.13-92 — Babson Park, Massachusetts “NEW SUPERVISED INVESTMENT SERVICE.” Forty-Two Years of Continuous Experience MELVILLE BELL GROSVENOR Geographic Society JOHN A. .mlL TON Trustee de Estate H. KAUFFMANN Newspaper Co. RL B. KEFERSTEIN GEORGE J. LEO KOLB A. KING ALFRED H. LAWSON Vice-Pres't and Real Est. Officer HARRY G. MEEM S. CARROLL MORGAN THEODORE W. NOYES Editor, Evening Star A CHAMBE! OLIPHANT ittee National JOHN BARTON PAYNE Central Committee, tional Red Cross WILLIAM E. PEARSON President. Virginia Brick Oo. ARTHUR PETER Attorney-at-Law WALTER S. PRATT, JR. Equitable Coop. Building Ass'n CHARLES PARKER STONE Vice Pres't, CHARLES G. TREAT Major General, U. S. A, Ret'd DONALD WOODWARD Pres't, Woodward & Lothrop Chairman Murphy & Oo. have justified the sound and enduring principles upon which this institution is founded. They have withstood the acid test of time, of adversity and prosperity. The character and strength of the Board of Directors are assurance of the care and prudence with which tinue to be the affairs of the Company will con- administered. HARRY G. MEEM, President The Washington Loan and Trust Company MAIN OFFICE F Street at Ninth Stone & Fairfax, Inc. WEST END OFFICE 5 Seventeenth Street at G Established 1889 RESOURCES OVER TWENTY MILLION