Evening Star Newspaper, May 1, 1940, Page 19

FINANCIAL. ALL KINDS OF INSURANCE COVERAGE %lkerf! Dunlop 1200 15th Sl N W. Dist. 0222 For Quality Work in Letterpress _or PRINT NG Consult Our Representative 24-hour service by one of the Iargest plants in I mnm & 6060 stimates - Reavest No matter what type ot poliey you need. we can serve you most efficiently. We are prepared to budget ~ your (insurance costs and finance your premiums, Investigate this service! } | J.Blaise deSibour & CO. 1700 Eye St. N.W. ME 3996 MONEY for construction loans and term loans from 3 to 5 years in D. C. and nearby Virginia and Maryland. REAL ESTATE MORTGAGE AND GUARANTY CORP. 1610 K St. N.W. NAtional 1403 REALTORS SINCE 1888 In the Market for an INCOME PROPERTY? s~ WEAVER BROS ¢ ’ / WASHINGTON BUILDING DISTRICT 8300 LIBERAL DIVIDENDS PLUS INSURED SAFETY At Interstate every ace count up to $5,000 is fully insured and earns liberal dividends that are credited semi-an- nually. Hundreds of Washingtonians now save at Interstate. Inquiries ate invited. INTERSTATE BUILDING ASSOCIATION Washington Building 15th 8t. & New York Ave. District 8300 It Will Be An Easy Matter to arrange for money with which to buy, build or refinance property in the District or in Nearby Maryland and Virginia. We are making First Mortgage Loans in any requiréd amounts, upon approved applications. Prevailing rates and con- venient plans for repay- ment. 3-Year Straight Loans or , Monthly Payment Loans Also F. H. A. Facilities Let Us Have Your Application B. F. SAUL CO. 925 15th St. Na. 2100 Confinental Qil Co. Reports $1,380,434 | Net in Quarter Result Contrasts With Only $721,424 in Same 1939 Period By the Associated Press. NEW YORK, May 1.—Continental Oil Co. and subsidiaries yesterday reported net income for the March quarter of -$1,380,434, equal to 29 cents a share, compared with $721,- 424, or 15 cents a share, in the cor- responding 1939 quarter. The company said the increased earnings were largely the result of increased production of crude oil and larger sales of refined products. California Standard Oil. Standard Oil Co. of California and domestic subsidiaries reports March quarter net profit of $4,534,623, equal to 35 cents a share, compared with $3.226,016, or 25 cents a share, in the March quarter last year. Consolidated Cigar Co, Consolidated Cigar Corp. and sub- sidiaries earned a net profit of $124,228 in the March quarter, equal to 61 cents a share on 7 per cent preferred stock after dividend re- quirements on the 62 per cent prior preferred. This compared with $124,- 465, or 42 cents on 7 per cent prior preferred. in the March quarter last year. The company has farm properties in Connecticut and plants in Pennsylvania, Michigan and New York. Cleveland Graphite Bronze, CLEVELAND, May 1 (#).—Cleve- land Graphite Bronze Co. reports | first quarter net profit of $436,740, |equal to $136 per common share, compared to $374.992, or $1.17 a ‘shaxe for the corresponding 1939 | period. | Portland General Electric. SAN FRANCISCO, May 1 (P).— Portland General Electric Co. re- ports $1495114 net profit for the year ended March 31, or $631 a | share on common stock. That was |\|p from the $1.119,210, or $5.06 a | share, earned in the preceding year, Middlewest Corp. CHICAGO, May 1 (®).—The Mid- | dlewest Corp. of Wilmington, Del., | and subsidiaries, exclusive of Cen- | tral Illinois Public Service Co. and | Lake Superior District Power Co., reported today for 1939 consolidated | net income of $4,120,492. This was equal to $1.24 a share on the capital stock and compared with $2.678,463, or 80 cents a share in 1 1938. The net income figures for both years were after deducting a | full year's cumulative dividend re- | quirements on preferred stock of | subsidiary companies held by the public. | Net income of the parent com- |pany in 1939 was $1421.729, or 43 cents a share on capital stock issued or reserved for issuance, compared | with $1,310,028, or 39 cents a share | in 1938. | Investing Companies NEW YORK, Mav 1.—National Associa- tion Securities Dealers, Inc. | Admin Fd 2nd Inc _ Aeronaut - Sec Afiihated F Inc - *Amerex Hold Am Bus Shrs Am For Inv Am Gen Ea Inc Am Ins Siocks = Bankers Nat Inv Corp A Basic Industry *Blair & Co Bullock Fund Can Iny Fund Chemical Fund Comwlth Invest *Continental Sh pf Corporate Trust Corporate Trust AA Corp Tr Accum Corp Tr AA mod Corp Tr Acc Mod Cumulative Tr Sh Depos Bk Sh N Y ~A" Depos Ins Shrs “A" Diversified Tr C Diversified Tr Dividend ty CFind e oston_Corp First Mutual Tr Fd _ Fiscal Fund Bk Sh Fiscal Fund Ins Fixed Trust Sh A Found Tr Sh A Fund Investors Inc Fund Tr Shrs A Fund Tr Shrs B Gen' Capital Corp Gen Investors /It Group Sec Agricuitural Group Sec Automobile Group Sec Aviation Group Sec Building Group Sec Chemical Group Sec Foods z Group Sec Invest Shrs Group Sec Merchandising Group ‘Sec” Mining Groun Sec Petroleum _ Group Sec RR Equip - Group Sec Steel Group Sec Tobaceo Incorp Investors Independence Tr Sh Instl Sec Bank Groun | Instl Sec “Insurance Investors Keystone Keystone Kevstone Kevstone Keystone Keystone Keystone Keysione Kevstone Custodn Manhat Bond Fund Maryland Fund Mass Inyest Tr Mutual_Invest Nation Wide Sec Fd C Inc Custedn Custodn Custodn Custodn Custodn Custodn Custodn Custodn Do R W wt 230019 35 LA R B DR o 2EREERERE BRI BRIRES Stocks Insurance Stocks Machinery Stocks _Oils Stocks Railroad Y Stocks R R Eauip ___ Y Stocks Steel » Plymouth Pund Im: Putnam (G) Fund Quarterl» Income Sh & "~ *Schoellkonf-Hutg & Pom _ Selectde Am Sh Inc Selected Income Sh Sovereien Invest o Spencer. Trask Fund Stand Util In *State Slr!(‘L Suver of Am Suver of Am Suver of Am Tr 8 Supervised *Trustee Sta fl 19 C *Trustee @tand Inv D *Trustee 8t Oi Shrs@ ___ *Trustee St Oil Shrs B Trusteeds Am Bk .- Trusteed Industry gShrs Wellington Fund | ABRE 23FI% E vest 4 Quotations furnished by Nmoml Asso- ciation, of ‘Securities Dealers. Inc. which states thev do not necessariy reflect actua fransactions or firm bids or offe should indicate approximate price: inless otherwise :ndiacted. are a wuoted by the sponsors or issu *Not Quoted by sponsors or ssuers.” Metal Murket 3 NEW YORK. “May (). —Copper gteady. rolytic ‘spos Col 1 50; _ export, f. - foZine steady: Eas Loul and forwar® 578 _ Quicksilver. 172on nominal. Pig iron. aluminum, antimon: platinum. Chinese wolftamite and_ Gomestic reheelite unchanged. London Gold and Silver () —Bar silve?, 2. Q O Eauyslent, 5887 cunte oa. n a;slllr basis_ $4.03 ) 158'# leg: une (Equivalent, ‘ . | operations THE EVENING STAR, WASHINGTON, Por Copite Income Payments by States in 1938 D. C,: Per Capita Income for the United States PER CAPITA INCOME BY STATES IN 1938—The above chart shows wide variations in the averages. Crude Oil Production | [Jack I. Straus Declines Slightly For Weekly Period Gasoline Consumption Grows Heavier and Helps Reduce Stocks By the Associated Press. NEW YORK, May 1.—Daily crude oil production declined slightly dur- ing the week ended April 27, totaling 3845250 barrels, compared with 3,858,550 barrels the previous week and 3,568,200 a year ago, the Amer- ican Petroleum Institute reports. During the four weeks of April, daily production averaged 275,650 barrels in excess of the Bureau of Mines calculated requirements, Reporting refineries increased to 849 per cent of capacity from 84.4 per cent the pre- vious week, indicating runs of crude oil to stills for the industry as a whole at 3,555.000 barrels a day, com- pared with 3,535,000 the week before and 3,310,000 a year ago. Gasoline production declined slight- 1y to 11,276,000 barrels from 11,412,000 the previous week. Heavier gasoline consumption helped to bring a small reduction in finished and unfinished stocks to 102.452,000 barrels, com- pared with 102,817,000 a week ago and 87,490,000 at the same time last ear. 2 Imports of crude and refined oils at principal ports during the week fell off to 1240,000 barrels from 1,600,000 the previous week. Refinery operations for the same period were reported as follows, on Bureau of Mines basis: Crude runs to stills (daily aver- Named President Of R. H. Macy By the Associated Press. NEW YORK, May 1.—The elec- tion of Jack I. Straus as president of R. H. Macy & Co. was announced today. He succeeded Percy 8. Straus, who became chairman of the board. s The new president is the third in successive generations of the Straus family to head the depart- ment store concern. He has been a vice president since 1933, Insurance Stocks ® NEW YORK. May 1 (P.—National As- sociation Securities Dealers, Inc.: Bl Asked. Aetna Cas (4n) ____ Aetna Ins (1.6 Aetna_ Life (1.2 Am Reins (1.60a) Am Reserve '(113) Am Surety (2'2) Automobile (1a) Balt Amer (.208) Georg Home (la) Glens Falls (1.60) Rep (12) Hanover (1.20) Hartford Fire (%a) Home Pire Home Ins (1.20a) Homestead (1) Knick'bk'er ('3) Lincoln Pire Maryland c“ Mass Bond Natl Pire (2 Natl Liberty: New Amat Cas B H'pshire (1.60a) R0y (1.208) Revere (P) In' (1:208) B et Fire 81 age), 3,555,000; increase, 20,000. Total |y 8 Fid & United States gasoline production|Y (week), 11,276,000; decrease, 136,000. Total finished gasoline stocks, stocks, 95,815,000; decrease, 395,000 Unfinished stocks, 6,637,000; in- crease, 30,000. Total finished and unfinished stocks, 102,452,000; decrease, 365,- 000. Gas oil and distillate fuel, 24,997, 000; increase, 218,000. Residual fuel oil, 102,552,000; de- crease, 771,000, Dividend Authorized NEW YORK, May 1 (#).—Di- rectors of Oliver United Filters, Inc., | today authorized a dividend of 25 cents a share on class “B” common stock, payable May 20 to holders of record May 10. Previous payment was 50 cents on December 23, 1938. Chicago Livestock CHICAGO. May 1 (#.—Hog generally e were steady and fat lambs were siow and about steady. Hog receipts in the open marke 1.000" less than expected, totalin while big packers airect. finished fairly active after a_ slow start. Best light loins dropped a cent to 16% cents a pound in the dressed department. Most steers sold from $8.75 to $11. while choice vearlings sold up to $10.50." Best fed -teers topped early at $12 Medium to good wooled skin lambs were held up 10 $10.25 and best clippers to 0,50 and guner Y : nited States 'Department of Agricul- ture).—Salable hogs. 11.000: total. 14.500: opened slow, closed fairly activ steady with' Tuesday's avera bulk good and choice 18- 6.00-20: ‘most 270-360 poun: 400-500 pounds packing lighter butcher kinds A .50, able cattle, able calves, market being conducled in rain and snow storm: largely steer tun with well finished llned!uml eisht and weishty steers in y: 1.00 not many medium iight steers or yeariEs. here; Teeder enters operating at 9.50 down: selling choice yearlings up to 10.50 to country: besides sizable supply common §nd medium stock steers at 7.75-9.00; best st early 12.00: numerous ioads, 5: bulk of thess carrying con- ight: prime weighty steers held ve 12.00: choice 1.066 pounds Nebraska eifers. " 10.75: several loads fed heifers, Ao 50! heifers supply moderate: cows steady at 6.00 down on cutters and 4.50 doxn_on lizht canners: most beef cows weighty sa lis up _to ;| oYeAlers also etive at 15, 50- 'n, 2.000: total. 6.50 : rn lambs mostly stro o 105 her:*one ioad hmny-mu 'wl?dlkln! ll'.&7 10.7! bull choice kinds. 1.80-60 'Lteh‘ur medtum 19 inds a st ipper: 0: 9.00-25 Todavs trade: Fat lam A few early bids on_ choice ecl around_ st ldding lower on* 1oose: tween kinds: holddhu best clippers L 9.80 ium t good we heia 4070 0055 fat sheep r&?:dulslm Chicogo Produce CAGO. May 1 (#.—Poultry, live. 25 truck:, Steady to Arm Leghorn hens, 15: White Rock broilers. 23: spring innunns up. “colored, | 23: Plymouth - Rock.” 26 White Rock. 2x under 4 pounds. Piymouth Rock. "“e'a ‘White k, 23%: other prices unchang Butter (receipts laten). steady, i ulnchlnnd Iater). “easy: ited States ture).—Potatoes, total U. 8. shipments. A41: old St0ck. Tdakio s fets slightly stronger. Northern. all varities. best. slightly _stronger: li Tiehi, demand s Russet Burban| 1, Minnecota. ~Holfandate " sections Nortn Bakors “Red Kive Yaile skt ort al iver Valley lo} Cobblérs. 60 to A5 per cent U. 8. No. 1. .15-50: unchumng. as: Early omo..wcm N to 80 per cent U. . consin Tound whiies: O 8 No ity. 1.50-60: Katahdins, l1 28 L 14 New stock. Texas Triumj firm:’ Call- Tornia: Jons whites. stendyr supplies mod- erate, demand light; 50-pound sacks, T Bliss Triumphs. U. 8. No. 1. sales. prices: U S. No: 1 unwashed. 125 site washed. 1.25: unwashed. Cali- Torma. lone whites, & nnBer ini- tial ice. 100-pound sacks, 50-peund Kacks. cat sowing decay 05 ‘& aack. washed, few taimba | § re (3) Westchester (1.208) a—Also extra or exti Quotations furnishe National Asso- cintion of Securities Dealers. Inc.. which states they do not necessarily reflect actual transactions or firm bids or offers. but should indicate approximate prices. Foreign Exchange YORK. May 1 #.—A drop of 2's cents in the British pound paved the way for a broad decline among other leading foreign currencies today. Latest decline in sterling carried the | unit to $3.49. close to the lowest price in years. touched earlier in 1941 squieting eflect of War news, espe- mny the British shift in trade routes }fram the Mediterranean to around the Cape of Good Hope, was rated a major depressant by foreign exchange dealers. The Canadian dollar lost s cent. the French franc .01% ef a cent. the beiga 02 of & cent and the guilder 0L of a cent nchanged was the Swiss fr Late rates follow dollars, others in cent) ‘ Canada. Official Canadian Control Board rates for . dollars: Buying 10 per cent premium, ' selling 11 per cent premium, equivalent to discounts on Canadian dol- lars in New York of buying 9.91 per cent, selling, .09 per cent. Canadian dollars in New York open market 15% per cent discount. or 84.62'2 U 8. cents. an (Great Britain in Eurepe. Great Britain, demand. 348 3.49: 60-day, 346 90-day. 3443 Fium. 16.85: Denmark unaoted: Finland, 1.90n: Prance. 1.96 1R (benevolent 16.50)" gary. 17.65n: Italy. cables. Bel- Yugoslavia, Latin Americ official, 297 508, Tree, s.10¢ Argentina. Brazil. official, 16.80n. e. 23.09: Mexico, Far East. Japan. 23.48; Hong Kons. hai._8.06, (Rates’ in indicated. New York Produce NEW YORK. May 1 (#).—Eggs. 45.055; ensy: mixed colors. fancy'to extra fancy, 193.-21%; specials, 20%: extras, 19-1914} storage packed firsts. 12 eraded Arats, 17%4-17%: current recei) ie yms 16: dirties. No. 1,1 Whités: Resales of premium marks. 22- 24%: nearby and Midwestern premium marks, 20-21%: specials, 19%: standards. 1815: resales of exchange to fancy heavier mediums. 17 n!a. nearby and Midwest- "’ig medium: 21.77: {poL, cables unless otherwise 'n Nominal Shang- vérars chechs lrby fancy to extra fancy, d Midwester 2 earb; 19247 standard Butter, e y: No. 2 American, f.0.b. ork a3 No "2 western, cif., New lex steady; No. 2 domestic. c.1.f. New le weak; Middle Yest, 67 Hay barely steady: No. 3300 No. 2, Ro % 15°00-18.005 tecqing, ong 1ve. 27.00-28.00. rrow. 4.5 white kidney. 83 eady and unchan 3.85; idney, 4. ‘ther ‘articies Short-Term Securities (Reported by Smith, Barney & Co.) Ala Gt South “A” 5s 43 Alleghany Corp cv 55 44 Amer Tel & Tel s 4 Austin & 101‘(4 " e8% ;fik Texas |.2e0 Gai 1.45-50: " some holding for, higher | 8 o New Ovieans 58 43 Union Off of Calif' 8s b h Pox & Lt & arten "Bros. 04, W(llorn NY& Pl Ql 437" ‘IOF% United States Treasury Position By the Assoclated Press. e position of the Treasury April 20, wmpm& with eomnlrlbla date s year s wnrkln: wlnm included jstoms Teceipts for month !l .17!..81 47 1 u,qeo 968, 0 38, !!0,1!3 6 68,730, 2 7. 869, 2,802,349, 40,062.945.. 18/ n‘«-m.ue‘ (- « | be extended a year. < | defaulted Farmers Reap Profit On Repaid Loans For 1939 Wheat War and Domestic Crop Scare Give 20-Cent Advantage Over Rates By the Associated Press. CHICAGO, May 1.—Although Uncle Sam claimed title today to an undetermined amount of mortgaged 1939 wheat, grain belt farmers who repaid GoVernment loans have turned a profit on the transaction i principally because of the war and a domestic crop scare. The Government's 1939 wheat loan s program, a phase of the ever-normal granary plan, has ended except for loans on about 21,000,000 bushels of grain stored on farms. Outstanding loans not eligible for extension will be called. How much grain the Government eventaully will possess because of loans cannot be de- termined as yet. $7,000,000 Weekly. Originally the Commodity Credit Corp. advanced more than $110,000,- 000 on 167,000,000 bushels, but re- cently farmers have been repaying loans at the rate of about $7,000,000 weekly. Thus, the bulk of the grain {has been redeemed by producers ‘Haklng advantage of the 20 cents a bushel or more price rise above original loan rates. | Terminal markets have been flooded with receipts of wheat which would have been marketed last suramer and fall had it not been for ",the loan program. However, much | repossessed wheat is believed to be held by producers who are speculat- ing in the hope of a further price upturn. Much grain that was priced as low as 60 cents last summer at market and now is worth above $1 | has been refinanced through banks |and other lending institutions. Reflecting this belated market- ward movement of grain, the 12 principal terminals .in the past 10 weeks have received approximately 55,000,000 bushels compared with 33,000,000 in the corresponding pe- riod last year. In that interval the | Chicago price has fluctuated be- tween 98 cents and $1.13 a bushel, compared with 60 to 72 last summer before the start of war. Marketing Is Orderly. Marketing of loan grain has been done in an orderly manner, selling | T, incident to it being absorbed by commercial interests and investors willing to take the risk of ownership. Wheat traders said the war and crop situation have offset this selling. Government loans averaged 70 cents a bushel, with most of the grain stored in warehouses. Peak holdings on January 19 totaled 167, 283,748 bushels. By April 18 this had been reduced to 177961942 bushels, of which 21971990 bushels were on farms. Since Government reports lag behind actual reposses- sions, it is estimated that possibly 20,000,000 to 30,000,000 bushels more have been redeemed. Any grain not redeemed by producers is expected to be pooled and marketed by the in any profit that accrues. Boston Wool Market BOSTON. May 1 (# (United States partment of Agriculture).—Prices Te strengthening today on country-packed lots of three-eighths and one-quarter blood Dright fieece wools offered from the coun- "*Wools of this description offered through Boston houses were bringing 36 cents. in the grease. delivered to mills. Moderate quantities of fine Western wools were sell- ing occasionally. Good French combing lensth fine territory wool in original ba were bringing 83 to R4 cents, scoured b while 12-month Texas wools were bri B2 lo 85 cents. scoured basis. delivers London Money Rates LONDON. May 1 (P.—Money, cent. ~Discount rates: ~Short bills, 1.0 per cent; 3-month bills, 1 1 London Tin Quotations DON, May 1 (®.—Tin irregular: £253 bid, €253 (s asked: future; LONI spot. £249 15 bid. £250 aski Saving Accounts Insured! An old axiom reads, “A sound invest- ment is a safe one.” Your saving ac- count here is insured up to $5,000, while earning dividends, Open an account, LUMP SUMS . . . monthly deposits. With- drawal privilege. Assets Over $3,000,000 WEDNESDAY, World War Peaks These can| Government, with producers sharing | # MAY. 1, 1940. Reached by Alabama Iron Industry Every Blast Furnace In Birmingham Area Is in Production By the Associated Press, BIRMINGHAM, Ala, Msy 1— Booming business brought Alaba- ma’s iron industry back to World War production peaks today with every blast furnace in this ares in operation, I Pig iron output jumped to 100 per cent when two furnaces, out for several weeks for repairs and re- building, began pouring iton. Steel remained at the relatively high level of 83 per cent, up 5 points from the low of the year, and some observers regarded as significant the fact that all nine of the blast furnaces, which supply steel mills, were in full operation. The steel industry in Alabama is in the midst of a huge expansion program. Heavier Pay Envelopes. For the 40,000 wage earners in! heavy industry in this area, curxem‘ production levels mean heavier pay | envelopes and full work weeks. Coal mines, limestone quarries, ore mines and coke plants reflected the heavy demand for these raw materials. | Few new jobs have been created by | the jump in industrial production, however, since mills here have been operating on high schedules for almost three years and few em- ployes have been laid off in aluck‘ periods. Steel defand continued good ln‘ most lines, with a healthy backlog remaining for many products. In- dustrial sources said shipments and | orders for Pacific Coast delivery have been especially heavy in re-! cent weeks. ! Gulfsteel Capacity Increased. | Capacity of Republic's Gulfsteel | plant at Gadsden has been increased | 85 per cent by recent improvements | and the Tennessee Coal, Iron & Railroad Co., United States Steel | subsidiary, is in the midst of gn | expansion program involving exe penditures estimated unofficially nt‘ more than $10,000,000. One of the furnaces restored to | production here today increased its | capacity lpproxlmnle]y 70,000 tons | annually in the rebuilding process. Orders for steel, which eventually will find its way to belligerent coun- tries in Europe, have increased here | recently, but industrial sources say the great bulk of business in Ala- bama mills is going to regular do- | mestic customers. Washingfon Exchange SALES. Washington Railway & Electric pfd. —8 at 117. After call. Bank of Bethesda—3 at 30. Capital Traction 1st 55—$1,000 at 10134! $500 at 10133; $1,000 at| 1013. ] Washington Gas 5s, 1960—$4,000 at | 13135, . BONDS Anacostia & Pot 55 1048 t Quar Bs 1049 &S Toactions 53 1947 GHy'% Bubirban 35 194R Georgetown Gas 15t 5s 1061 Eot Hec Pov i 330 Wath Ry s Bhec 4 1081 Chevy Chase Club 1st 4Yes 57 ol Country club 1t 41es 87 r REG W Cp 1ot aias 48, 103 STOCKS PUBLIC UTILITY. Amer Tel & Tel (%) Capital Transit (£.50) " N & w Po El Pot El Pwr 5'2% pfd ( Wash Gas Lt com (1.50)_ Wash Gas Lt ptd (4, a0 Ry & EI com (30 B h Ry & El pfd (5) Bank of Bethesda (75) Capital (v4) Com & Savings (y10.00) - Liberty () : & Tr Br Georred Bk & T (1,600 Riggs (e8) Riggs pfd (5)_ Washington (6) Loan & Trust (eR) FJRE INSURANCE American (+6) 1 remen’s (1.40) _ National umon l 75) Columbia 'k 'l(h 1 Real Estate (m6) l oA umnmus rpel Co; 4 Lan: ‘;: R)lmt!l! (2.00)-° Line suv com (t1.00) Line 8ve 7% pr pfd (3.50)" Ilenennuler Lino 1 lwv .35) FINANCIAL. Block Res;igns Inland Steel Chairmanship By the Associated Press. . CHICAGO, May 1—~L. E. Block resigned as chairman of the Board of Directors of Inland Steel Co. at the annual meeting of stockholders yesterday. Edward L. Ryerson, jr. was elected to succeed him. Mr. Block, 71, who has been as- sociated with Inland Steel since 1897 and has served as chairman for more than 20 years, was elected chair- man of the Executive Committee. P. D. Block, his brother, was re-elected president; all other officers and | directors also were re-elected. Mr. Block's successor has been -vice chairman of Inland Steel since Inland’s acquisition of Joseph T. Ryerson & Son, Inc., in 1935. President P. D. Block told stock- holders that operations for the first quarter were 85.7 per cent of steel ingot capacity. The rate for April would be slightly below 70 per cent, he predicted. He said less than 5 per cent of the company’s mill ship- ments were exported in the first quarter, |Commodity Index Rises The National Fertilizer Associa- tion’s index of wholesale commodity cent of the 1926-1928 average, com- ago. HOUSES Pass o All Books show new loon balance ofter each ance. principal. "xfi.fl""nla 435¢ oaid 10 1939, e 9% ity ”-.a;u,.m..-fl 7, ET us There are no Ceonsult .-y-l Saturdays 9 te 12 i Zimimm Office Hours 9 to 4— 915 F ST. N.W., handle your real estate and home loan financing. Applications considered on improved property, not only in Washington but in nearby, Maryland and Virginia. commissions or renewal charges. Interest only on unpaid balance of principal monthly. * Many savers have accumulated substantial mhmmnmm accounts with us. our officers for information. Ne obligation, of eo-no. MIERICAN BUILDING ASSOCIATION OFFICERS: prices gained last week to 77.8 per | pared with 77.7 the preceding week, | 763 a month ago and 724 a year ' REAL ESTATE LOANS 4%2% Fred T 1010 Vi Ave Dt Mesbit ' 9392 Money for Comndnm‘ n Loans a Loans on" Completed Properties (Owner occupied or rental) Favorable Rate FIRS1 DEED OF TRUS1 ONLY + 643 (ndians Ave N.W. Nat"l 0350 Black and White or ‘Colorst Pamphiets. Maps. Forms, ete. “ prints’ and ity. Met. xtra Columbia Planograph Co 52 L STREET N E We Wil Buy 2nd Trust Notes De- sirably - Secured _on _ Residential Property, Reasonable Rates. National Mortgage & Investment Corp. 1312 N. Y, Ave. NW, AHldol;l 5833 APARTMENTS BUSINESS PROPERTIES Columbia Federal Loan will solve your Spring building problems. monthly payments applied directly to loan bal- @ No commissions or re- newal charges. ® No red tape or waiting. Loans Available in D. C. or Nearby Maryland and Virginia LINCOLN 0130 DIRECTORS: 3 Board JOWN E. MERGNER “:{‘x: v cHATHAN (i) R oyl KNALL o Whe C PARMER Assets are now in excess of $12,600,000. IflIIllIlllllllllllllllllllllllIlIlIIlIlIIIIIIlIIIIIlIIIIIIIllIl\\ A » MORTGAGE LOANS Equitable Co-operative Building Association ORGANIZED 1879 ST 78 REAL ESTATE LOANS AU TETTITITIAERY 0 RANDALL H. HAGNER & COMPANY MORTOAGE LOAN CORRRSPONDENT 1321 Connecticut Ave. N.W. Telephone DEcatur 3600 ON IMPROVED D. C. AND NEARBY MARYLAND PROPERTY For buying, rebuilding or refinancing at prevailing rates of interest. Loans repayable monthly. No charge for appraisal if loan is not made. Interest charged only on unpaid balance of