Evening Star Newspaper, June 24, 1935, Page 17

FINANCIAL. CURB LIST TAKES UNEVEN COURSE Utilities and Oils Mixed. Specialties Rise, but Metals Decline. By the Associated Press NEW YORK, June 24—Curb mar- ket stocks underwent a mild shaking up today in rather active trading that kept prices moving in opposite direc- tions most of the session. Utilities and oils were mixed at the close. Specialties were inclined to work higher, while most of the metal shares ‘were lower. . DIVIDEND IS ORDERED. NEW YORK, June 24 (Special).— The directors of Supervised Share: Inc., have declared a quarterly div dend of 12 cents a share, payable July 15, to stockholders of record June 29. This distribution is at the same rate as that for the corresponding period last year. BONDS ON THE CURB MARKET., DOMESTIC BONDS High. Low. Close. Abhot(1 D:n' s 42104 4128 6 A B0 104 104 3 ' Am Rad 4 10414 lnau 10411 Am Roll Mill 97 Am Seating 6is 16 Avpalach Pow 5 10514 10514 10574 1003 100 * 100% Crane 10:32% 10213 10 Crucible S\Eel 5 10031 10033 10034 Cudahy Pkg 10414 10414 10424 C_P Balae PL e 4 Dallas PL 5s Daston P & 1, enver Det C Gas 6s A Det in Elec P&L 5s A Eimira NLR Emp Dist El Ej & R 2 106 108 106 108 2 96 s 100 a1 * 300 a1 67 +| Emp G&F 6% pf. Grand Trunk 6'as GLW Py Cal 85 Guardn N SOl pa’ 50 Guif St Ut 5 Gulf & Ut 3128 B ‘61 Hood Rub 572 Hygrade s Hygrade Fd_6s B lilns Cent RR 6s Iiins No Util 5s Indiana Ser bs Indiana 8 5s Intersta Pw 65 ' Inter P 8 5s D '56. Interst P8 4lps '58 Inves Co 5s A '47 xw Nb Tona b e 55 Jacksonyl Gas 55 = b4 " b4 - 1067 1067 1067 10234 1025 1023y 10672 10612 10613 Ml” I(I}'F'&g ‘.’5! A 48 l(bvli emp 5 z Metro Ed ds ‘71 E. A R Z108% mxl. 10814 & Lt 4 14»4». 10414 1044 Minn P&L it 931 94 Minn P & L 5s, 10635 10¢ 7% m't: mf:: Neisner Bros 6s Nevada Calif 5s w Eng G&E b By private wire @irect to The Star. Stock and Sales— Dividend Rate Add 00. High. Low. Close Acme Wire vte (a123c).. ..o 14 14% Aero Supply (B). e Air Invest cv pf.. Ala Pwrpf (7). Allfed Milis Inc Alum'n pf (1%) Am Cty P&L A(3) mo- Am CitiesP&L(B) 44 Am Cynam 40c B. 44 Am Founders 1stpf (B).... Am Founders 1st pf (D) AmGas&E 1. AmG&Epf (6).. 175-106% 106\6 IOG‘A Am Laundry(40c) 200s 15% 15% 15% AmUt&Tr120.. 37 12 11% 12 Am Maracaibo. 3 bl Am Meter Co. 12% Am Superpower.. 60 113 1% AmSup'pwistpt 5 61 59% Am Sup'pwrpf... 11 18% 16% Am Threadpf25e. 1 4 4 6% 5% 97 100 % % 50s Angostura (+20c) 19 Appalachan Elec Pwr pf (7)...1108100 Arcturus Radio T Ark NatGasA... Ark Nat Gas cu pf Armstr Cork(50¢) Art Metal W (40c) Asso El Ind a2l.40 Asso Gas & Elec.. Ass0 G & E (A)... Atl Coast Fisher.. Atlas Corp.. Atlas Corp war. Auto Vot Mch 500 Belanca Aircraft Benson & Hedges. BlissCo (EW)... Blue Ridge pf (3). Blumenthal 8.... Bower RoliB (1), 1 Bridgeport Mach.. Brill Corp (A) Brit-Am Oil coupon (80¢). Brit Celanese Ltd rets. Brown Forman... 8 Buckeye P L (3). 100s 3 Buff N&EP pf 1.60 4 22 Bunker Hill&Sul. 325s Burco Inc. . Butler Bros. Cable El Prod vte. Cables&Wire (A). Cables&Wire (B). Can Marconi Garib Syndic: Carrier Corp Catalin Corp Celanese 1st p! Cent Hudson G & Ectfs (80c).. 6 14% Cent P&L 7% 113% 1258 36 Cent States Elec.. 11 Cent States Elee 1 384 22% 5% P & < 10 00 = B w3 s 10 [ I R e L [ 1 4% o & % Centrifugal P 40e. Childs Co pf... Cities Sve pf BB.. 108 Clev Elec illu (2). 2 Cleveland Tractor 1 Colon Of1 1 Columbia Gas & Elec cv pf (5)100s Cummunlty P&Lt Com'with Ed (4} Com'with&So war Cons Afrcraft Como Mine: Compo Shoe Mach s.tc.(50¢). Cons Copper . Cons Gas of Balto (3.60)., Cosden Ofl (Me).. Cord Corp.. Crane & Co. Creole Petroleum. Croft Brewing. .. Crown Cent Petr. Crwn Crk Int A $1 Cusi-Mexicana M. Dictograph Prod. Distil C Ltd a27.3¢c Distillers C-Seagr 32 181 17% 17% Doehier Die Cast. 4 17% 17 17 Dow Chemical (2) 410133 101% mm Driver Harris (1). 1 15 15 Duke Power (3).. 258 56. 55 9% 4 231 23% 2314 Duval Tex Sulph. 5 Sh Eastn G&F Asso.. 1 Bastn G&F A pf 6. 258 16‘6 East'n States Power (B)... 50s Easy Washing Mach (B)a(25c) 1 Edison Bros (1).. 2 Eisler Elec Corp.. 2 Elec Bond&Share . 181 Elec Ba&Sh pf (5) 5 Elec BA&Sh pf (6) 35 Elec P Asso (32¢). 5 ElecP As A (32¢). 4 Elec Pwr & Lt 24 pf (A).... 258 Elec Sharehold’g.. 9 Elec Share pf ww. 758 508 Emp P part ($50¢) 1 Equity Corp Ex-Cell-O A&Tool Fairchild Aviat'n. 6 20 o 3 ¥ 5 3 > EEr] ey S NPl TEEORRR #E EREEEFCERSS 5 P 2uee8325323 =, ] 2 32222 RRYEE3RERRR325. , R RERRRRRREERR R TR ¥ 1©'0'yY"uY 553;«% Ak G FEEF PIFFIESEF FEE S Saisssneet 125353 105s, 10830 1083 1037 103™ 102% tat% 1 LP bs L 53 E 56 r A 6s '52 . fil a8 99 e et 2 EERet 89 T -1 2 THE EVENING NEW YORK CURB MARKET Sales— Dividend Rate. Add 00. m 1 y S 2 11 3 Falstaff Brewery. Fanny F C (50¢).. Fidelio Brewery.. Fisk Rubber. Flintkote (A) (1. Ford Mot (Can) (A(1%).... 10 Ford N Ltdall.7¢ 1 Froed.ert Gr& M conv of (1.20)200s Garlock Pack (1), 2 Gen Invest Corp.. 13 Gen Pub Sve pf... 708 Georgla Pw pf (6) 50s Glen Alden C (1) 2 Grand Rapids Varnish (50¢) Great Atl & Pac Tea n-v (16) 20s129 Great At! & Pac 18% 4% % 2 ™% w-mon 129 Tea 1st pf (7) 106-127 127 24 Greyhound (Del). 3 2 Heyden Chem(t1) Hollinger G(t65¢) Hudson Bay M&S. Humble 011 (1) 111 Pw&Lt 6% pf. 200s 11l Pwé&Lt $6 pt.. 3508 Imp Oil Ltd coupon (t60e) 27 Imp Tob Can t350. 8 Imp Tob Grt Brit & Ire (aT13%c) ~ 2 Indiana P L (30c) 2 Indianapolis P&L cum pf (634). 258 Insurance Co of North Am (2) intl Hydro Elec System cv pf.250s Intl Mining war.. 2 20 3 3 Int'l Petm (113). intl Products Intl Util (A)esesm Intl Util (B). - Interstate Power Del pf Irving Alr Caloe. Jersey Central P&L of (5%). 268 Jersey Cent Pwr & Light pf (6) 20s Klein (D E) (1), Kreuger(G)Brew. Lake Shore M(12) Lakey Fy & Mch. ., Lehigh C&N(50¢), Lerner Stores (2). Libby McNeill&L. Lion Oil & Ref. ... Loblaw Grocerles Long Island Light Long 1sland Light PL(6)B..... 50s Louisiana L&Ex.. 24 McCord Rad (B).. Mass Ut Asso (n). Mavis Bot (A) (d) Mead John (13)... Mem Nat G al0c). Merritt Chap & S. Michigan Sugar. .. Mich Sug pf...... Middle Wst Ut (d) Midland Stl Prod. Mohawk Hudson 1st pf (4).... T5s Mohawk H 2d pf. lZEl 3 Molybdenum. . Mont Ward (1) A. 60- 134 Moore Drop Forge A (b1.50)..... Mount Prod (60c). 5 Nat Bella Hess... 9 Nat Bd & Share {1 1 Nat Container (2) 50s NatFuelGas (1). 1 Nat Invest war... 1 Nat P& L pf (6). 600s Nat Rubber Mach Nat Service. .. 14 1 30 New Brad Oil 20c. 1 NJZine (2)......1308 Newm Min (al).. 3 N'Y & Hond (11). 1508 NYP&Ltpf (7). 258 NY Shipbldg..... 2 Niag Hudson Pwr 41 Niagara Hudson Pwr A war .., Niag Hud Power (B) war..... Niles-Bem-Pond. Northam Warren conv pf (3).. 258 North Am L&P... 1 Nor Am L&P pf.. 300s Nor Am Util See.. 2 Northern States Power (A)... 3 Novadel Ag (2).. 5§ Ohio Power pf (6) Pac Gas & Elec PL(13T3%)..0 Pac Gas & Elee 1stpf (1%).. 8 3 2 108105 105 1 25% 25% 25% 29% 134 30 xfi 6% 19% 26% 8% 15% 26% % 42% 82% 18 ™ 129 127 691y 30 013 10% 10% 137 30 by 114 35 21 40% 1% 15 1% L) W 21% 105 5 27% 27% 27w Pac Light'g pf(6) 60- 100\1 100% 100% 1 Pantapec Of1 Parke Davis (11). l Parker Rust P(3) 50s Peninsular Tel...100s Peannroad Corp... 3 Pepperell Mfg (6) 50- Phila Co (80c).... Phoenix Secur. l.’i Ploneer Gold Mines Ltd (80c).... 10 Pitney BoP.(20c) 1 Pitts Plate G1(12) Potrero Sugar.... Premier Gold (12¢ Prod Royalty 2%e Prop’ties Real vtc 50s Prudential Inv... 1 Puget Sound P & L $5 of.. 200s Puget Sound 1 6 3 8 Root Ref cv pr pf. Ruberoid Co (1).. St Regis Paper. .. St Regis Paper pf. Salt Creek P (80c) Segal Lock & H... Seiberling Rubber Selected indus allot cfs (33 )150s Seton Leather.... 3 1 % Shattuck Den Mi» § 2!6 Shenandoah. Sherwin- Wi Singer Mfg (16).. 508264 Smith (AO)...... 2 65 South Am Gold & Plat (006). 13 4 125 Southn Cal! Ed DfB (13%) Southn Calit Edis Edpf C (1%) Spanish&Gen rets. 1 % 1% 44% 59 % 2% 67% 8 3% 25 65 3% 25 1 23% 23% 23% & & Spieg-M-8 pf(83) sonol 101 101 Square Deal A 2.20 508 Stand Inv cum pf. 100s l”fi Stand Ol Ky (1) Stand Oil Nebr. Stand Oil Ohi Stand Sfiver & L. Starrett Corp pf.. Strook & Co.. Srmen EX-T TS Sunshine M (1. IO) Swift & Co (150¢) SwiftIntl (2).... 11 34 Swiss-Am Elec pf. 50s 55 Swiss Oil (40c)... 3 Tastyeast Inc (A). 2 Technicolor ine.. 19 Texon O&Ld(60c). 2 Tob Prod Ex(10¢)' 12 Unexcelled Mfg (p10c)... 1 UnitCorp war.... 4 Unit Dry Dock (d) Unit Founder; N . Unit Lt & Pwpf.. 16 Unit Shoe M 1214.200s USFoll (60c) B.. 4 US & Intl Secur.. 2 Unit Verde Ex ¢0¢ 54 Utilitles P& L.... 18 Utilities P & L pt.300s Utility Bquities. . Utllity & Indus pf Venezuela Petrol, Waco Aircraft., Waiker (Hiram ‘alker (H)pf(1). Va Coal & Coke Westn Alr Bxp(n) West Tab & Sta(1) Wilson Jones(13;) Woodley Pet(20¢) Yukon Gold...... 0 00 b I aiend % l!fi 4% 19% 26% 4% m-g":‘% STAR, WASHINGLON EGG QUOTATIONS STEADY TO FIRM Nearby Ungraded Hennery Whites Up Half Cent. Live Poultry Weak. Egg quotations were steady to firm on the Washington produce market today. Supplies of Letter grades were limited and nearvy ungraded nennery whites advanced half a cent. Gov- ernment-graded cxiras. large, gained a cent. Live poultry 'n «cs were weak and mortly one cent lower Heavy sup- nlies moved slowly. The summary, with egg and live poultry prices, fur- nished by the Department of Agri- cu.lture follows: -pound prints (92 score) rints (90 score), ts (89 score! n 120: vnl. 16-1 Coked Rams, it hl "%ll"‘/ Prices by the Un"ld States Wuu DY 4 55"“"1‘(‘{': tead: S Mcarier siae of the b!l.tfl lndn lrlmmnd nurby ungraged’ nennery and oonmnm zneed .. vI.Ill: 26: 1-pound tub, tub. 25; 1-pound pi lA‘l‘—-Beel lamb. 16al )mm. 22 30a31; &llel i larger TRY—Market 'weak: nnee momy 1 cent lower. - Sup) moving slowly. and New York Cotton By the Assoclated Press. NEW YORK, June 24.—Early de- clines in response to favorable weather news from the South were followed by partial recovery in cotton today on covering promoted by the continued firmness of the near position. The midafternoon market was quiet and steady at net declines of about 4 to 6 points. Putures closed sf Bleachable cottonseed oil futures closed easy. July, 9.90b; September, 10.01b; October, 10.02; 9.80b; January, 9.84b. snlu 145 con- tracts, including 86 switches. b—Bid. Liverpool Quotations. LIVERPOOL. June 24 (#.—Cotton, 3.- 000 bales. including 2.400 American. Spot moderate business done; prices one point higher. Quotations in pence: strict good middling, 7.30: 7.00: strict middiing, 6. strict low middling. 6.70; low JStrict good ordinary, 6.2 L P INSURANCE STOCKS NEW YORK. June 24 (#.—N Security Dealers' Assocation o Aetna Cas (2 Aetna Pire (1. Hanover (1.60)_ Hartford Fire s S csamion <3 BRB AR s b perrere Pt D nnflum Sun Life__ Travelers (18 Fire (1.50 SR S0, Westchester * ( 3% 33% (a) Including "extra; (&) Declared of paid so far this year, e CHICAGO LIVE STOCK. ICAGO, June 24 Demrtment. of url:unure»—flu uoo including 7.000 direc ) cents Io'er tmn ma-y. huer "(m- 30 89.70; ol Bann 35 P i (™ (United sv.nbeu. D. TRADE IS EXPECTED 10 CLIMB SHARPL Decided Upswing in Next Few Months Regarded as Probability. BY CLAUD A. JAGGER, Associated Press Pinancial Editor. NEW YORK, June 24—If business follows the same pattern of inter- mediate cycles that it has pursued since the Spring of 1933, Wall Street analysts say the next few months should see a pronounced upswing. Since the banking holiday in March, 1933, there apparently have been three small cycles or waves of business activity, each of about nine months duration, 5 It s then, that business activity is now around the bottom of the trough between the third wave, and a fourth or oncoming wave. Measuring these cycles by the monthly index of industrial produé- tion compiled by Standard Statistics Co., and based on 1926 as 100, the first nine-month cycle started from s level of 55 in March, 1933. It reached its crest in July at 88.4, and subsided through November. The second wave started in Decem- ber, 1933 from a trough at 67.1, or substantially above the previous bot- tom. It worked up to 79.5 in May, 1934, failing to get as high as the previous crest, then slid down through August. The trough from which the third wave started was 63.2, in September, somewhat below the one, but still well above the 55 level from which the first wave started. The up- ward sweep carried into last March, when a crest of 843 was reached, which again failed to top the crest of that first steep wave. Just where the third wave ends is yet to be determined decisively. If the nine-month pattern is to be fol- lowed precisely, the low point should be this month. Standard Statistics Co's. preliminary estimate of its index for this month is 74.2, well above the bottoms of previous troughs. Some analysts think this inter- mediate bottom may be reached in C. July, owing to the disturbance of the | Potoma dropping of N. R. A. codes, which would make the third wave a 10- month cycle. But most of them look for substantially higher levels by Autumn, SHORT-TERM SECURITIES. (Reported by Chas D. Barney & Co.) 1937 194 943 1937, 936 1 Aml-chll.m"l 5s Amer, Beet Sugar 65 ATl 51 Aflaonic edning 55 1 Bethiehem Steel 53 1 California Packing Canadian Nor. Ry. Z5RIREING dson 19 n. & Rio Or A‘ru nufl. Edison EI. Liium 939’ we 2528 Warner Bros. 8 1 West. N. Y. & Pa. 1083 CRUDE OIL PRICES. oy TULSA. Okin, June 24 U —Base crude tinent area — Oklahoms avitsSean 58; Norts “ata. North lvlly scale to $1.03. Coast_—Lousiana-Texas, sravity scales to SL12 and (Permian_ba: 70 c At Htkas Panhandic, 81 cents and 91 cents Wyo.. &1 sravlty "Seate to $ e Pe s ‘and 75 cents sravity scales to s — Salt Creek, iame ines, S1. al 2; ltllle i me’ grade Coraing, 200- 730350 pounds, a.' packing sows. medium and good. 278-850 pounds, Tvass: g - q 1{’%31) PR very nittle iosds Sirictls good 18" choics et .u medium weient ¢ '”l uu- T &CCO! uJ lower-| nda fe'du;lly sales a 1L78; several ve l.m: lg it hcl er ln t‘%'ou f2d 3he-stoct owntum nfl ‘flrllml. ufle Rhter cattle ‘and nnle and choice, 550 D 00! 1,100- $00-1. 10300 Dounie. ™ !, "uu 25: 1.$oo i 112 mflfl and common, k; E?b‘-'x'.oeo )oul%g:-_’ o834 csmnien; n‘.'“gu -i-‘.s-nd el Dative -:mn::'.fl s'iég# mostly. ughter ~ sheep 7.76; 33% | TUichts, Sommon an V. S. TREASURY NOTES. By the Anoemu ruu. g-n:n on_June The post m 1 Baren 528,81 5"2‘4‘& ’Jf 3 ou T irtoina recelsts Tor the ml ru l ( 00.. 462 o:nudey zhe prevlmu dlv. s0ld_ assets, $9.100.281 l) 53 '148 (?:71 lor CONSTRUCTION LOANS and LOANS ON IMPROVED RESIDENTIAL PROPERTY in the District of Columbia 5%2% B AUL CO MONDAY, JUNE West Texas | ¥ ivania grade llud- 24, 1935. Maryland Tobacco Prospects Helped By Good Weather Special Dispatch to The Star. BALTIMORE, June 24.—Prospects good, according to reports received at the State to- baces werehouse. With favorable weather conditions all but & few farmers have finished transplanting and have obtained a good stand. ‘The market continues active, with sales last week showing an increase of over 300 hogsheads, compared with the previous week, totaling 1,151 hogsheads against 817 hogsheads. Re- ceipts also showed a slight increase with 1,272 hogsheads, making a stock in State tobacco warehouses of 12,880 hogsheads. Prices on practically all grades are fairly well maintained under the re- cent advance, but values are still slightly under prevailing prices at this time last year. On June 22 last year medium to good leaves were bringing as high as $42, compared with top value of $41 today, while firm tobaccos were selling at $56 against $42 this year, Washington Exchange SALES. Anacostia & Potomac R. R. 55—8$1,000 at 88Y, $1,000 at 88Y, $1,000 at Va- Capital Traction 5s—$1,000 at 96%, $1,000 at 9615, ‘Washington Gas 5s 1958—$1,000 at 105%, $1,000 at 106. cafln;:l Transit Co.—100 at 184, 8 at Wllhmnonnwy & Elec. pfd—6 at AFTER CALL. Capital Traction 55—$1,000 at 97, $1,000 at 97, $1,000 at 97, $1,000 at 97, $10,000 at 97, $4,000 at 97. Lanston Monotype—8 at 61, 2 at 61. City & Suburban 5s—$10,000 at 87, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. 4% Am. Tel. & Tel. Col Tr. Anscostis & Pot. §s BAVINGS BANK. Com. & Savings (8) N Amultln Corcora Firem: National "Union (603 TITLE INSURANCE. Qotumpia (30) Real Esti MONEY MARKET. NEW YORK. June 24 (7.—Call money B cent all day. Time loans | : 4-6 months un’:::ygud monthe Wa ke mon 5-8 @iscount rate. New York Reserve per_cent. FINANCIAL. STEEL RATE SINKS FURTHER IN'WEEK Sharp Decline in Demand Sends Average Down to 3514 Per Cent. By the Assoclated Press. CLEVELAND, June 24.—Steelworks operations declined 3% points to 35% per cent last week, due to a sharp reduction in demand for the majority of finished steel products, the maga- zine Steel's weekly review said. The reduced demand was somewhat offset, however, by a substantial increase in structural shape awards, Sentiment in the market continued moderately strong. the magazine said, with steelmakers anticipating further reductions in volume in the transition from June to July. The drop, how- ever, will not be as severe as last year at this time, when the rate fell from 53 to 26 per cent, manufacturers believe. Automobile assemblies last week totaled 90,000, only a few hundred units less than the preceding week. Specifications for parts for Fall mod- els already are making their appear- ance, leading to a bellef that the automobile industry will be partially successful in eliminating the usual Midsummer slump. Prices, with a few exceptions, are stable, with little pressure a; t them except in construction work, where lump sum bids permit con- siderable flexibility, continues the magazine. | Labor legislation, passed and pend- | ing, had a far less disturbing influ- ence on the markets than would have been true before the Supreme Court's | N. R. A. decision, the article states. The effect of the Wagner bill's pass- age is minimized by doubts as to its constitutionality, Steel says. Steel's iron and steel composite is down 1 cent to $32.40, with the fin- ished steel index holding at $54. Scrap prices were off 8 cents to $10.38. Institute Estimate Drops. NEW YORK, June 24 (#).—The American Iron & Steel Institute today | estimated steel operations for the cur- | rent week at 37.7 per cent of capacity. This was the lowest rate since the week of December 24, 1934, and com- pared with 38.3 per cent of capacity last week, 42.3 per cent a month ago and 44.7 per cent in the corresponding week a year ago. CAR SURPLUS DECLINES. NEW YORK, June 24 (#)—Class 1 railroads on May 31 had 305,218 sur- | plus freight cars in good repair and | immediately available for service, the | Association of American Railroads re- ported today. This was a decrease of 31,262 cars from the total of 336,480 cars in this classification on May 14. rolle 3.10; black sheets, o Shtet; Giryy et oneed, v '°"’°‘ BUILDING ASSOCIATION 7c¢h St. and Ind. Ave. N.W. LOANS Made on Improved District of Columbia Real Estate Security Monthly payments as low as $7.50 per $1,000 The Way to "Home" «++ 0+ Leads Through A Savings Account | PLANNED saving is the shortest surest road to building plans! o Start to save methodically . . . TODAY. Save ‘The Fidelity” way. | Every dollar that accumulates will be a really big step toward home owner- ship . . . or to provide READY CASH for some other desired purpose! We Pay 59 —Compounded Semi-Annually from the date of payment to the date of withdrawal, @ ONE DOLLAR or more will enable you to join with the many thou- sands of far-sighted men and women whom we are serving and who always find, at “The Fidelity,” a friendly spirit | of helpfulness and co-operation! The Fidelity Building & Loan Association | MAIN OFFICE, 610 13th St. N.W. ASSETS $6,492,976.24 Ol{lllul 1879 JOBN JOY EDSON. President 55th YEAR COMPLETED. WALTER S. PRATT, Jr.. Secretary Subscriptions for the 109th Issue of Stock Being Received Do You Desire 2 Loan —on Real Estate or to Take Up First Mortgage? TT'HOSE desiring money to purchase & home, refinance present indebtedness or improve property should consult us. Applications will receive prompt and courteous attention. Loans Repayable Monthly Take 12 Years to 915 F St. N.W. Bring Your Problems to AMERICAN WHBJ we say, “Bring your banking problems to American Security for discus- sion”, we mean exactly that. The, modern bank survives only if it meets the needs of the individual and the community. This Bank was founded fo meet these needs, and throughout the forty-six years of its existence it has never lost sight of them. AMERICAN SECURITY AND TRUST SECURITY More than seventy thousand Repay Your Loan Nat. 1741 people bank at the American Security, because they know that the bank stands ready at all times to help them with their problems. Drop in at your convenience and- talk with one of our officers. Our advice and experience are at your disposal, regard- less of the size of your account. - COMPANY Main Office: FIFTEENTH STREET AND PENNSYLVANIA AVENUE Largest Capital and Surplus of 4»_1 Wnlml;ml Trust Company CENTRAL BRANCH 7th and Massachusetts Ave., N. W. 'NORTHEAST BRANCH Eighth and H Streets, N. E. MEMBER FEDERAL SOUTHWEST BRANCH Seventh and E Streets, S. w. NORTHWEST BRANCH 1140 Fifteenth Street, N. W. RESERVE SYSTEM