Evening Star Newspaper, September 10, 1936, Page 19

F “0URB LIST GOES TOHIGHERLEVELS Most Advances Moderate, With Utilities, Oils Up Uniformly. By the Associated Press. NEW YORK, September 10— Stocks were a little higher in the eurb market today. Most gains ranged the lower frac- tions in the final hour with utility and ofl shares uniformly higher. Amer- ican Gas & Electric and Northern (Buus Power “A” were well up in front of the power company stocks. American Light & Traction was one of the few reactionary issues. Gypsum Lime & Alabastine raced nearly 4 points higher to slightly more than 10. Aluminum Co. of America -* was outstanding in the high-priced list | with a gain of more than 4 points. Atlantic & Pacific and Seeman Bros. lost a point or so and Newmont Min- g dropped & major fraction. Building Awards Top 1935 Despite Shortened Week By the Associated Press. NEW YORK, September 10.—Engi- neering awards for the week ended *Tuesday, shortened by the Labor day holiday, totaled $35,219,000 compared WWith $34.977 000 in the like 1835 ‘period, the Engineering News-: -Record Teported today. Of the total, private construction amounted to $7,844.000 and public to $27,375,000, against $3,966.000 and $31,011,000, Tespectively, a year ago. *The public buildings comprised $11,- | 036,000 Federal and $16,399,000 State and municipal awards compared with $11,053,000 and $19,958,000, respec- tively, in the corresponding 1935 week. CURB BONDS 3 | Carrier Corp L 105% 105% 106 106 1 1043 1043 104% 106 106 106 261 96 9os 2 T8Y) TRIs 105% 105%3 10512 104% 104 & 10434 103% 102% 103% 111 110% 130% 101% 101% 101% 33 13 | Cusi Mex Mining._. 97 lflnu 14"2% moh 1084 1n1~. lm% > Degegt000 3380 ot i [itiaPlANEAN 2R 2222 2RI LIR2528323 -§ ey v FEFE v Susi SREE R REER P Q [y 253222393350 23522003 253435 3 0D: o 2532 WERSE FF B8 FEEA 2333 FEPERRE T 555 2353 & EEEE SRR ORF SSESRERE R 255 1 o & 23 wa g 800 Pt 2228380 SEEE ] e > 2333328;2333 Oy 11 1031, 1021 10"'/1 - 1063, l"flh 1063, 8912 B9, RO 4ls 943 g;‘ INANCIAL. Bales— Wllll. Add 00. High. Acme W vto (2) .. 25 Ainsworth (2) .. Ala Gr't Soualty. l.h Allen Indus (t1).. 1 Alliance Invest__. 1 Aluminum Co THE EVENING STAR, WASHINGTON, D. C, THURSDAY, SEPTEMBER 10, 1936 Rate. Humble Ofl (t1).. uh uu 4% | 1) PwaLt 36 of... 2608 o134 67)4 674 k] ol bt Imp Ol Litd reg. 3% | imp ON1 Lta coupon (t50c).. 2 (t50e) .. ... .+ 2 26 36 24| 1nd Pipe Line 400. 1 Alum’'n Co of Am. 1650s 1333 128 132)§| jndiana Svec 6% pf 80s ‘nd Service 7% pf 208 33} of Am pf (13 ). 150s 11834 118 Lns Co of N Am(3)€s08 Alum Goods t60c. Alum'n Ltd ______. Alum’n Ltd eu pf. 1718 18 intl Hydro Eleo sty System cv ol .. 2 9% 94 99%| Intl Mining war__ | Dayton Rub A 317 Am CitlesP& L [LNC) Nus— ) AmCP&L. Am Cynam B 60¢c.. Am District Tel NJ(4)__. Am G&E (1.40) __. 3 43% Am G&E pr ()15 u1% lll)i 1134/ irving Atr Ch (1) 6 Am Gen Corp ... Am Gen pf (215)_. 268 Am Gen C'p pf(2) 3008 Am Lt&Tr (1.20). 2 Am Mfg Co..___..126s Am Maracaibo.... 13 Am Meter Co L4 Am Superpower__ Am Superpwr pf.. Anchor Post (d) .. Angostura (20¢).. Apex Elec Mfx. ” s —RRNGaNCNENe Atlas Corp war _. Atlas Plywd a50c_ Austin Silver_ Auto Vot M (15 c) Baldw L bd rts(d) Berkey & Gay Furniture Co. Berkey & Gay Fyrn pur war.. Black & Decke: Bliss Co (EW) __ Blue Ridge cv pf 3 Blumenthal S __ Borne-Sery all Bower Roller Bearing (al%). Braz T L&Pa3lc.. Bridgep't Mach_.. Brill Corp (A) Brill Corp pf__...250s Brit-Am Tobacco reg (a75 7-10c). 16 Brown Forman. _ 10 Buffalo Nlag & B P pf (1.60) ___ Bulova W cv pf_ Burco Inc Butler Bro: Cable El Prod vte. Cables&Wire(B). 1 Can Car & Fdry pf650s Can Hyd 1st pf 6_. 108 Can Indus AlcoA. 1 Can Marconi ____ Carib Syndicat Casco Products... Catalin Corp ... Cent HG&E vte (80c) . ... Cent &S W Util__ Cent States Elec. . Central States Electric 7% pf. 276s Chi Flex Shaft t2 :w- Chief Consol ... Childs Co pf . e !!h Citles Service___. 36 Cities Servicepf_. 2 Cities Service Pwr& Lt $7 pt IWI City Aut Stpg 60c.- Claude Neon Lts_. Clev Tractor ___. Cockshutt Plow__. Colis PRA (1%4)- Columbia Gas & Elev ev pf (5) Columb O1l & Gas. ¥ Com'with Eo (4) _ Com’'with & S war Community P L 1 L3 4 2 . 6 . 5 l 1 1 . Communit Wat S Compo Shoe Mach s t c(50¢). Consol Afrcraft__. Consal Cepper. .. Consol Gas of Balto (360) ... 1 Consol M & S (2).226s Cons Retail St .. 2 Contl Gas & Elec prior pf (7) | _ 258 100} Cont Roll & Steel “ay @ 6% 64 3 ¢ 3 L nnu N 94 K“K oy .400s 107 3% % 39% 2 4% 195 o5 923 L] % 1934 o 2% L % Foundry_ _. 16508 13% Cooper Bessemer.. Cooper Bess pf A_ Cord Corp_ Corroon & Cosden Oil Me (d) Ceurtaulds Ltd (a35 2-5¢). Crane & Co. . Creole Pet (a25¢). Crocker W heeler_. Croft Brewing . Crown Cent Pet.. Crown Cork Intl (A) (31) Crown Drug a20e_. Crystal Ofl Ref___ Cuban Tob vte __. Cuneo Press (2) _ Dayton Rub (11) .. Derby Ol & R.___ Detroit Gasket(1) Det Pap Prod t25¢ Det Steel P(a25e). Diamond Shoe(1). Doehler Die- Casting (a50c). Dow Chem (2.40) . Dubelier Condens. Duval Tex Sulph_ Eagle Pitch L 40c. East'n G&F Asso East'n Gas & Fuel Assoc pf (6)___ 1008 Easy Washing Mach (B) t50e Eisler Elec Corp . Elec Bond&Share Elec Ba&Sb pf(6) wBummn amemun El Pwr Asso (A).. Elec Pwr & Lt Corp . Evans Wall L pt__ Ex-Cello Afralbe. Fairchild Av new_ Falstaff Brewery.. Fanny Farmer Candy (50€) . Fedders Mfg(1%) Fidelio Brewery Ford Motor Ltd (218 1-10c.._. Ford Motor (Can) A a78c). Gra tert. conv pt (1.20) . 360e Gen Electric Lta reg (a56%c)__. Gen Firep't (40c). Gen Gas & Elec conv pf (B)__ Gen Invest Corp.. Gen Inv Corp pf.. Gen Out Adv pf . Gen Pub Svepf $6 Gen Tele a5t __. Gen Tire & Rub 3 Gen T&R pf A (6) 508 Georgla Pw pf (6) 1008 4| Gilbert (AC).._.. 1 i3 3 R 6s ’ Cuban TYs A Ger con [ 47 A 7807 62 B'/lpb *59_ - 15 Jcas E 6s '¢5._ ww—With. warrants, xW_-W ’3:33822?258&' 8§ ##* W r B_gNew. wi—When Tovued: ¥t (6) " 1 Glen AldenC (1). 4 224 ‘lfl 130 10034 10034 Intl Petro (11%). Intl Products._.._.. Intl Util (B).—_— €% | Int) Vitamin t40c, Interstate Power (Del)pf._ Inv Royalty (3¢)- 43% | 1ron Fireman (1), Jacobs(F L)Co(1) Jonas & Naum ... g3 | Jones &Laugh Stl. u Kansas City Pub Sve viepf A . .5“ Kingsbury Br ). Kingst'n Prallc.. 42% | Kirby Pet (200) ... 334 | Kleinert Co(120¢). #% | Knott Corp(a10c). 3234 | Kreuger Brew (1). 14| Lackawanna R R b4 NJ (4 % 9} | Lake Shore M § | Lakey Fy & Mau 13% | Lefcourt Realt: 134 | Lefcourt Realty 13| pf (aT5c)- 3% LChlth&N(lll ). 10% | Leonard Ol - 1”‘ Llon Oil & Rt Lit Brothers. Lockheed Afrcraft Lone-Star Gas ¢00 Laqng Island Light Long IsLtpf A 7. La Land (40¢) . MecCord Rad (B).. Mc Wms Dredg n_ angel Stores___. Mangel Stores pf_ Massey Harris___ Memphis N G a20e Merritt Chap & 8. Mich Gas & Ofl . Michigan Sugar pf Mining Co (Can) .. Mock Jud Voe (n). Molybdenum Corp Monroe Loan Society (A) ase. Moore Dist (t50¢) Mount Prod (60¢) % | Mueller Brass 80c. Nachman Spring- Nat Fuel Gas (1)_ Nat Gypsum (A) -~ Nat Investors . _ Nat Oil Pr (11.20) Nat Rubber Mach. Nat Transit (7sc). Nat Union Radio_ Nelson(H) (a25¢) NJ Zine (12) __ New Mex&Aris Ld Newmont M 1% N Y Auction . N Y Shipbldg_ Niag Hud Pwr___ Niagara Hudson Pwr (A) war Niag 8h MAB a10c Niles-B-P (a50c) . Nipissing (as0c) . Noma.Elee (240c) North AmL&P.. North AmL&P pt_ Nor Am Util Sec_. North’'n Ind Pub Sve 6% pf (3)__ North Pipe L(30c) Nor States Pwr A- N W Eng (a25c)-- Novadel Ag (2)... Ohio Brass(B) (1) 225 Okla Nat Gas pf . 60 Outboard Mot (A) Overseas S (as0c). Pactfic Eastes Pan-Am Air (1 Pantepec Ol Pender G (A) Pennroad (b20c) - Penn Cent Light & Pwr pf (2.80). Penn P& L (6)__. Penn P& L (7) Penn Wat & P 144 19 o 23 863 % 133 Phila Co (80¢c)__.. Phillips Packing ... Phoenix Secur.. _ Phoenix Secpf A 3 Pitney Bowes 40c. 24% | Pittsb'gh Forging. 1% | Pitts& L E 12% _ % | Plough Inc (1.20). 1’| Potrero Sugar . Powadrl & Alx 60c_ 14% | Premier Gold t12¢ 43 | Pressed Met 1% _. Prudential Invest Pub Svs ind pr pf. % | Puget Sound 1544 121 Pyrene Mfg (80¢). 1034 | Quebec Power (1) 200 I Eue 2 %4 | Reed R B new t30e 125¢ | Reynolds Invest__ Richfield O of Calif pf (4).___ ¢2 | Rogers Maj Corp_. Root Pet'm(a2éc). Root Petrol'm CV pr pf (1.20) Intl Corp.. Rustiess Ir & St1_. 93¢ | Russek 5th Av(1) St Regis Paper __ 803 | St Rexis Paper pf 603 | Salt Creek P(30c) 183 | Scovill Mfg a1l 2 | Seeman Bros t315. 10 |Segal Lock & H... - 16 334 Sonotone C(a10c). €2 | 80 Penn Oi1(t1%) $1 | Southern P L 20c.. Southl'd Roy 40c... Spencer Chain ] i fak 2234 | Square Stand Oil Ky 1.40. 18 | Stand Of1 0 a2be_. Stand Pwr & Lt__ 22% 22%|Stand P&L (B).. Godch'x SA a50c_.100s 3% Godchaux Sug(B) 1 Goldfield Consol.. 10 Gorham (A) .. 4 Grand Nat Films. 11 Gr Rap Var t60c.. Gray Tel P8 (1).. Great A1 & Pac ‘Tea n-v ($6) __ Great Northern Paper (1) .. Greenfleld T & D... 2 12% &4 & 2 205 193 Shove 90s 11634 115 11634} Tilo Roofaldie - 19| Stand P& L pt .. Sterling Inc(abe) 83 | Stetson (J B) tvan 8834 | Sunray Ol (as¢) . 634 | Sunshine Min (2). \m Swiss Ofl (+20e) — Tagrart Corp .. Taylor Dist (bSe). M Technicolor imc Thew el Coal. ohul nalenen Eleawn ...i.. ...:.f ?..z-.:.f.i - whe ———-!!n-‘:a-— 2 ¢ 308 Marion Steam Sh. 20 Masonite Corp 12_100s Mich Bumper C'p.. 134 Midvale Co (a2)..176s 4 Nat P & Lt pr (6) 200s 4 800e 1 . Oldetyme Distil__. 3 Okia NatGasCo.. & Pepperell Mfg (6) lo- Quaker Oats (14). 60s T - 00. 3 68y 65% Low. Close. | Hydro Elec Secur. 1 5% 1% 431 1073 107 110 S. E. C. HEARING | Application for Removal of Issues From Curb List Raises Big Problem, BY FREDERICK GAIDNII. Associated Press Pinancial Writer. NEW YORK, September 10.—Bro- kerage quarters expect a hearing set for tomorrow before the Securities and Street as important. Regarded as Test Move. It is the first move by so-called 8% | uover.the-counter” interests, dealing the 8. E. C. under the recently ap- % | proved amendment to the Securities Exchange Act permitting continuation of trading on registered exchanges in securities not formally listed. Tweedy & Co. is expected to present its case alone. However, exchange and over-the-counter interests gen- erally are walting the outcome early in the belief it would have a bearing upon the future of the far-flung counter market, growth of the big exchanges and Federal control of trading practices. ‘Tweedy & Co. asked removal of the i| capital stocks of the Piedmont & Northern Railway Co. and the City |and Suburban Homes Co. from umft listed curb trading on the ground their market there is relatively tn- | active. Rooney to Present Case. T. F. Rooney, trader for the over- the-county house, who is expected to + | present its case to the commission, says only 50 shares of the railroad issues were traded on the curb in the first half of this nn and none last year. He holds Twcedy & Co. have made the main market for the stock off the exchange and that trading should be concentrated in the counter market. Since it is up to the applicant to show cause for removal, the Curb is expected to be represented chiefly in 78% | an interested observer's role. Officials of the New York Security Dealers’ Association, an organization of over- the-counter interests, said the asso- ciation also would take a side-line role. But some have envisaged a battle between exchange and over-the- counter men eventually for a shift of securities to and from the exchanges. Others Await Result. Another over-the-counter house has % | applied for removal of the preferred 31¢ | 2nd common stocks of the American kil 4% 63§ 29 % District Telegraph Co. tmm the Curb. Om:‘ru similar moves are said to be wai outcome of the Twi eedy appli- ‘The curb, runner-up to the New York Stock Exchange in size, with tickers in more than 40 leading cities and as- sociate members in 22 States, on Au- gust 17 had 719 share issues and 436 bond issues in its unlisted department. Many have a highly active market, with turnover in some running into thousands of shares on busy days. cautioned against aggressive attempts to get issues from the curb. They fear 43) | the exchanges may retaliate after 5 nu‘ 110% Bogpbpntiatela & §%z pedap® . £ 3 E§ a3- sE-§%ss-Jr-xislrifssfsi®se §§ 23~ sF-E%3goriacpialptEs ELTIR ST | FYCTPLLE PN 398 I 8 88 HTE 963 91k 17 !’ii‘i“'fi"i'§£: I 2 s " = ~ gf~§%3zsads-siiply" November 27 when they may apply for unlisted trading in securities for which there is available information com- parable with data filed for listed issues. This is expected to open the way for & shift of many bond issues, particu- larly, from over-the-counter to ex- change trading. NEW YORK SUGAR. NEW_Y¢ for Septembe: i1 e o%lblu of 1057 .;.:2 p"fl"m erto 2 Doints on covering and ir - Monihs eascd off later wnder n lla;fiflllhfl .l: 7. B - = ew €rop_delive wever. held rela- tively Steady’ on a littie more buyk D02 orine eaved 7 8 to 2. ‘months eased from 2.7 B e B2 i’ el Bew crope were unc hisher around th: m'é'au Bour | Vith ‘aan uary l 2.49 a) = ' at 2. to 4.75 f.mge nnulnted a'llhdnnh :mw 2 e "»‘e’?‘".""h'a s v 'was_repor o inside lev for prompt shipment. BOSTON WOOL MARKET. September 10 (® (United 'elltho‘ln%lrlfl:ltn{; ) -,'l:.g '..l indly i les mb Tolt ll:l,ltl i ey Sl m m] of oolL as moving: o 1y 35836 cen lennh. flll-hll 136%. were having some call at N.ID up le levl prevailing during the past ays. NEW YORK. Seotember 10 P—Crude TE nleher Piedendy, lnchs cember. 16.34b; March. 16.43b. Unit Gas pf(31%) Unit Lt & Pw (A). Unit Lt & Pw (B). % - U S Foil(B)(60e). U S & Intl Secur_.. USLinespf .___. U S Rub Reclaim_ UnitStores vte__. 1 UnitVerde Ex (1) 2 Unit Wall Paper_. ¢ Univ Prod (a1%). 60s Utsh P& L pf (22.91 2-3¢) - 2008 Utica GEE pf (7). 50s 1 Utilitles Pwr& Lt 25 Utility Equities ._ Util & Ind (new)_. ';” Sep-peeilegfeg Bwee - f--u.--u-- 3k oa5 2 *eflpees- 8°gk 3 “slliggee-- 25 3 's!!&i" sl Some over-the-counter men have |, FINANCIAL. Thirty-six Year Record of Wheat Exports of the United States UPTURN FORECAST AT STEEL PLANTS Ingot Production Expected to Increase Further Dur- ing September. By the Associated Press. NEW YORK, September 10.—A fur- ther upward trend in steel ingot pro- duction during the remainder of Sep- tember “is clearly indicated,” even with only minor support from the automo- bile industry, Iron Age says today in its weekly review of the steel in- dustry. The output this week dropped to 70 per cent of capacity, due to Labor day shutdowns, from 72 per cent in the previous week. Clarification of the price structure be followed by others before the end of the week. {NEW YORK BANK STOCKS YOI September 10 Un.—New Yflfl !ecunty D.‘hn Associa udnelJ (Quotations as of 2 FEDERAL LAND BANKS YORK. September 10 (P —Pederal | ¢ NEW Land Banx ‘bonds: (onnuun- 5 of 3 e'clock.) ade buy- | 4 ‘oot market bui increased | 4 CHICAGO. Seplember 10 IM (Vn\t!d Aspicutture) —Ho 2.500 direct; .ven .‘ .@F i i i, 55 A JEF --}%5 5'; Hh Snces abroad.. 8. sur- .2 , loenlla 8. chased “abroad. ! 2! e o, S vances. on. treasury bills, 05, Cdecrease 2.367: temperary i U. S. TREASURY POSITION. By ine Associated Press. The position of the on Sep- tember 8: s B03:105.569.20 s month. $7,82 fll.a. BCiiots. ot ihe Ip! 1) $718.472.108.f 161. BIBJGIJB it emsmm penditures. 33,361, u..sm.u iu.salgm Under, !DOI BANK mon. aa? % Holders Approve Goodrich Plan, ) Dividend Voted By the Associated Press. NEW YORK, September 10.—Fol- lowing stockholders’ approval of re- adjustment of the company’s capital astructure, directors of B. F. Goodrich Co. yesterday declared a quarterly dividend of $1.25 a share on the new $5 cumulative preferred stock. Under the recapitalization plan each share of 7 per cent cumulative preferred stock has been changed into one and one-fourth shares of new § per cent senior stock and one-half share of common. Readjustment provides for accu- mulated arrearage of preferred divi- dends and removes the annual retire- ment requirement of the former 7 per cent preferred. WEATHER SPURS HARDWARE TRADE Heavy Rains and Decline in Temperatures Help Re- tail Volumes. WOOL GOODS TRADING BEGINS TO BROADEN By the Associated Press. NEW YORK, September 10.—Trad- ing in all types of wool goods is be- ginning to broaden, the New York ‘Wool Top Exchange Service reported. Buyers of men's wear came into the market in unusually large numbers following the Labor day week end, it said. Mills making women's wear have been forced to step up produc- tion in order to meet demands for quick deliveries, according to the re- port. SHORT-TERM SECURITIES. (Reported by Chas. D. hrn“ ©o) 113% Dela The new capitalization consists of 2 412,031 shares of $5 preferred stock of | Gan S no par value and 1,314,296 shares of common. The dividend, the first in six years, INVESTING COMPANIES YORK. September 10 (M. —New York Becunty Desters Association:— (Noon quotations.) Lo e e PFERS Y AT 9 i 23 a § S b 200019 B 213231319 O i { v 5-f§i 8 Bt ?EEE Eg i H pirs iRty CHICAGO PRODUCE. CHICAGO. live. one car. Wi H‘i:‘;“ui‘fim lo! 1 Butter, lleldv- (arrivals and lnge eclm--. fors Im... : Cobl Tiey. NEW YORK PRODUCE. Y tember 10 (#).—Butter, : exir (nz mnl:‘ ier Frices s Snchanged. qud colors: g"l?}.‘mfi’" Lot mfifiudy B mtm: f T mmfiwm and, % "fi':.: §, : 38, R e FOREIGN EXCKAIGES NEW YORK., September 10 UP.—Por- exchane steady. Great lfl'illnn, T FREIGHT LOADINGS. NEW YORK. Sevtember 10 o Bev- enue freignt car loadings on railroads m&z‘lflly for week ended Slvbemb!r 5! PHILADELPHIA PRODUCE. PHILADELPHIA, September 10 (7. — Live mlu—y fowls. Pl Rocks, fancy. 23824 Nulln unchanged. SILVER OUTPUT DROPS., NEW YORK, September 10 (#).— | uwmmammm mmmmnnam' July amounted to 8,264,000 ounces, compared with 9,034,000 in June and 6.802,000 in the like 1935 month, the American Bureau of Metal Statistics reported today. about of our spectas Dispatch to The Star. NEW YORK, September 10.—Heavy rains and cool weather in many agri- cultural areas have speeded up con- sumer purchases of hardware lines and have encouraged merchants to release more orders. August reflected a great flow of Fall buying as prices strength- ened during the month and several advances were announced, with more being expected, Hardware Age says in its market summary. “Delivery delays have also appeared and many observers anticipate a real shortage of some Fall seasonable lines, where manufacturing plants have been geared to conservative operations, and can not prepare promptly for the in- creased buying which seems assured. pLabor and material costs are slowly mounting and trained workers for some processes cannot be quickly ob- tained. “The largest merchandising com- panies of the country are preparing for a period of moderately higher prices and of scarity of supply. Reflecting this attitude, well-posted merchants everywhere are building up their stocks and devoting less time to shop- ping for concessions. From all sources come reports of a great improvement this year in the demand for ‘luxury’ goods, with sporting goods and luggage showing the largest increases. The same trend has continued for July and | August. “Building betterment is doing great things for hardware stores. Roofing and paints, tools and builders’ hard- ware, are all selling with much more freedom and with the better qualities predeminating. Plumbing accessories and major items of kitchen equip- ment are making remarkable gains.” Preferred Holders Offered Exchange By American Chain By ke Assocated Press. NEW YORK, September 10 —W. T. 2 | Morris, president of American Chain Co, in a letter to holders of the $7 preferred stock today announced an of- fer for exchanging holdings into new $5 preferred stock on the basis of 1!} shares of the new convertible pre- ferred for each share of the old $7 60 1» | preferred, including accrued and un- paid dividends on the latter. The new preferred is redeemable at 105 and accrued dividends. The let- ter said the company proposed to call for redemption at $110 a share and accrued dividends all of the $7 pre- ferred not so exchanged. The exchange offer expires Sep- tember 30, next. The company has domestic plants in Pennsylvania, Michigan, Connecticut, Indiana, Illi« nois and New Jersey and headquare ters at Bridgeport, Conn. HOME LOANS to build or refinance INTEREST 5 % as low as PAYMENTS as low as per $1,000 COLUMB|A | BUILDING |} ASSOCIATION 716 11th St. N.W. INQUIRE the investment features FIRST MORTGAGES Over —and Forty Years of Experience First Mortgage Investments you'll see why they are popular with both large and small investors. F. SAUL CO. REAL ESTATE National 2100 925 15th St. N.W. M ORTGAGE ééozt Zezm CONSTRUCTION LOANS in District of Columbia or nearby Maryland SIX MONTHS TO ONE YEAR COMM 1SSION 1% 5:% Upon completion of buildings, these loans may be extended on one of several long term monthly payment plans; or for three or five years, without curtails; interest semi-annually. H. L. RusT ComPANY 1001 FIFTEENTH STREET NATIONAL 8100