Evening Star Newspaper, May 8, 1940, Page 21

FINANCIAL. REAL ESTATE LOANS 4%2% Fred T. Nesbit 1010 Vt. Ave. DL, 9392 Insurance OF ALL KINDS No matter what type of boliey you need. we can serve you most efficiently are oprepared to your (nsurance costs and @nance your oremfums. Investigate this service! TO INSURE Your PROPERTY BROS n¢ ’ / WASHINGTON BUILDING DISTRICT 8300 OTHERS DO! Hundreds of thrifty people have found Prudential accounts a financial haven—be- cause, they are both safe and profitable. LUMP SUMS or monthly deposits. Every account is in- sured up to $5,000. Assets Over $3,000,000 Building Association 133t G STLNW. INTERSTATE INSURES YOUR SAVINGS Dividends on your savingsincrease prin- cipal rapidly. Insur- ance up to $5,000 means full protection of that principal. Let us give you complete information today. INTERSTATE BUILDING ASSOCIATION Washington Building 18th St. & New York Ave. District 8300 Current Rates You Can Easily Finance a project to buy or build—or take care of a maturing trust. We are making First Mortgage Loans on approved applica- tion. Prevailing rates, and choice of these plans: 3-Year Straight Loans r Mont!dya Payment Loans Also F, H. A. Facilities In any required amounts — and prompt report on your application. B. F. SAUL CO. 925 15th St. Na. 2100 Big Gain in Steel Orders Brings Rise In Ingot Output Iron Age Also Cites Pronounced Strength Of Scrap Markets By the Associated Press. NEW YORK, May 8.—Iron Age says today in its weekly review of the steel industry: “The strongest improvement in steel orders thus far in 1940 has been experienced in the past week, result- ing in a rise in ingot production of 3. points to 66% per cent, which has been accompanied by pro- nounced strength in principal scrap markets. “The Iron Age scrap composite price has risen 37 cents to $16.75, the fourth consecutive advance. “Improvement in steel operations and orders has been due primarily to three factors: Specifications re- ceived by the mills against recent low-priced commitments for sheets | and strip., a good volume of export tonnage and belated seasonal orders for some products. Nearly All Districts Share. “Nearly all important producing districts have shared in the better- ment. The only loss was a minor one at Cleveland. “Steel companies are insisting that their customers who obtained blan- kei coverages on sheets and strip ' at the recent low prices shall spe- cify in full in time for completion | and shipment of the orders by June | 30. There is apparently a deter- | mination to prevent the carrying over of shipments into the third quarter, some going so far as to notify customers that any portion of fied in time will be canceled. “Thus far some companies have received specifications for 40 to 50 per’ cent of the tonnage booked, while others have not done better than 25 per cent. If all the out- standing tonnage, which probably amounts to several hundred thou- sand tons, is specificed in full, sheet and strip mill operations during | June will be at capacity, but this will in all probability be followed by a letdown in midsummer. “While the outlook is therefore moderately good for the remainder of this quarter at least, domestic| steel business needs the stimulus of greater activity in building con- struction and railroad equipment | buying. Munitions Needs Seen. Great Britain and France, have re- | sulted in a larger flood of inquiries | and orders from other parts of the | world. Moreover, the threatened spreading of the war area will, it is believed here, result in heavier steel and munitions orders from the | allies. Following the placing here of one large shell contract, others are being negotiated, one of which would require 40,000 tons of steel. “Export buying has played a rela- tively minor role in the greater strength in scrap markets. Higher scrap prices this week are in areas far removed from seaboard. The Pittsburgh, Chicago, Cleveland, Youngstown and Detroit markets have shown the most marked up- ward tendencies, prices having risen from 50 cents to $1 a ton on many grades.” Saturday Closing Voted NEW YORK, May 8 () —Mem- bers of the New York Mercantile | Exchange yesterday voted to suspend trading on Saturdays all year round, effective May 11. The exchange is the official source for wholesale quo- tations for butter, cheese and eggs. Investing Companies NEW YORK, May 8 (.—National Asso- clation Securities Dealers, Inc. (Closing quotations.) Admin Fd 2nd Inc _ Aeronaut Sec Afiiliated F Inc *Amerex Hold Am Bus Shrs._ Am Am Ins Stock: *Bankers Nat Basic s *Blair Bost 3 Inv Cp A 2 B e Swhsmkano 0w, Depos Ins Shrs Diversifiec _Tr C Dividend Shrs _ _ = Eaton & How Fund “A-1" Equity Corp $3 pf _ Fidelity Fund Inc __ *First Boston 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 Corn Gen Investors Tr Agricultural Sec’ Automobile Sec Aviation _ Sec Building_ Bec Chemical Sec Foods Sec M'chandising _ Sec Mining Sec Petroleum S POSIE S ESERRRI3LRINEST2RS PmTmioDm Instl Sec Investors Keystone Keystone Keystone Keystone Keystone Keystone Keystone Keystone Keystone Maryland Pund 3B5RTEIFRZRITE Sonimmnin () New England Pui N Y Stocks Automobil Stocks_ Aviation Stocks Bk Stocks e Rt IR 1955 D boisis DI I9 S 25223 g'q'aia':i»'ubbl'u':':.s SRR RS BRSD N 03 ZZAZLZLZZ 2! ®38 - 5 1919910 DB IR DI DAB DRI DI DSk DD DisNI R DB DL R DIID i} C RS SBRIRASIZLSS rters Ended &;L‘?u'i Vb quarters. rters Ended | yuwon Quarters Ended oS?p'::b-ri DO,LOLAIS December 31 83 8 8 8838 38 o o GENERAL MOTORS EARNINGS—The above chart compares net income in varlvus years by ——— Penney Volume Declines Below 1939 in April By the Associated Press. NEW YORK, May 8.—J. C. Pen- ney Co. today reported April sales decreased to $21,180,554¢ from $21,- 313,939 in April last year, a decline of six-tenths of 1 per cent. Sales for the first four months of the year totaled $76,973,516, a gain of 8.1 per cent from $71,187,254 in the corresponding 1939 period. Retail quarters said the April | comparison with last year was ad- outstanding commitments not speci- | Versely affected by the early Easter | | this year. |Newport News Shipbuilding Sold fo Bank Group Special Dispatch to The Stai. NEW YORK, May 8—Purchase of all the stock of the Newport News Shipbuilding & Dry Dock Co. from the Huntington family in- terests by Tri-Continental Corp. and a group of associated companies and firms was announced today by as the intermediary for the pur- chasers. Associated with the Tri-Con- | tinental Corp., group of investment | companies, in the purchase were “Events abroad, while tending to United States & Foreign Securities | restrict our European nf"kgg lg Corp., United States & International | Securities Corp., Stone & Webster & Blodget, Inc.; A. C. Allyn & Co., Inc.; Dividend Shares, Inc.; Massa- chusetts Investors Trust, Chicago Corp. Harriman Ripley & Co., Inc.; Ladenburg, Thalmann & Co., Adams ican International Corp. and others. Newport News Shipbuilding & Dry Dock Co., one of the largest and most successful shipbuilding com- panies in the United States, was | founded in 1886 by Collis P. Hunt- | ington, one of the great railroad | builders of that period. Since its | inception the company has been in | the continuous control of the Hunt- ington family. The shares now ‘being purchased were held princi- pally by Archer M. Huntington and various educational and charitable institutions established by the Huntington family and by the estate of H. E. Huntington, who died several years ago. Sale of the stock by the Hunting- ton family, while it will involve change of ownship, will bring no change in the present operating management and policies. Employment contracts are to be entered into with Homer L. Fer- guson, who has been president of the company since 1915, and other key executives and operating per- sonnel, which provide for tht con- tinuance of their services to the company for a period of five years, with renewal provisions. South Dakota Bond Exchange Is Offered By the Associated Press. NEW YORK, May 8—A Wall Street untlerwriting group, headed by Lehman Bros., announced today an exchange offer to holders of $6.239,000 State of South Dakota refunding bonds to complete a $20,- 425,000 debt refunding program. The exchange offer provides that $6,239,000 of outstanding’rural credit bonds due between 1940 and 1950 may be exchanged for a new refund- ing bond maturing between 1950 and 1959. Coupon rates on the outstanding bonds range from 2% to 6 per cent. Each new bond will bear interest at the same rate as the bond taken in exchange until the maturity of the exchange bonds. Thereafter the rate will be fixed at 3 per cent. T.W. A Fights Merger Of Two Airlines By the Associated Press. Attorneys for Transcontinental & Western Air, Inc., and minority stockholders of Western Air Express urged the Civil Aeronautics Author- ity today to overrule Trial Examiner Roscoe Pound’s recommendation that United Air Lines be allowed to acquire Western Air Express. Pound, former dean of the Har- vard Law School, who served @s a special trial examiner in the case, held that merger of the two com- ranies would not result in creating & monopoly. The authority heard legal argu- ments today on Pound’s report. Panhandle Producing Picks New Directors By the Associated Press. i WILMINGTON, Del, May 8— Three new directors were elected and one director was re-elected at a stockholders’ meeting yesterday of the Panhandle Producing & Refin- ing Corp. The director re-elected is Grier Bartol, and the three new directors are W. R. Davis, Richard Bennett, and Arthur L. Hobson, jr., all of ‘Wellington Fund otations furnished by National Asso- chl?l‘llm of Securities Dealers, Inc.. 'meg states they do nat necessarily reflect actual transactions or firm bids or offers, bui should_ Indicate ADproximate. prices: unl!= olhfir'l:i gflelu.d& are as b7, Not Guoted by svomsors or tssuers. ‘A New York. Union Securities Corp., which acted | Express Co., First York Corp., Amer- | N Lone Bid Submitted On Light Cruisers By the Associated Press. The New York Shipbuilding Corp., | asking $17,907,000 to construct one vessel or $35,160,000 for two. The bids were the first on ships of the Navy's construction program for the forthcoming fiscal year. Washington Exchange SALES. Potomac Electric Power 6% pfd.— 5 at 11615 AFTER CALL. National Mortgage & Investment pfd.—400 at 37s. Capital Traction 1st 5s—$3,000 at 101%. . Washington Gas 5s 1960—$5,000 at | 131 Washington Gas Light com.—10 at 2713, BONDS PUBLIC UTILITY. Anacostia & Pot 5s 1949 _ Ana & Pot Guar 5s 1949 Capital Traction 1st bs 1947 101 City & Suburban 5s 1948 1021 Georgetown Gas 1st 5s 1961 123 Pot Elec Pow 3Ys 1966 Washington Gas 5s 196 Wash Rwy & Elec 45 1951 MISCELLANEOUS, Chevy Ch Club 1st 4'4s 1957 104 Col Country Cl 1st 4las 1957 10 Ter Rf & W Cp 1st 4%s 1948 103 STOCKS PUBLIC UTILITY, | Amer Tel & Tel (9) 1 Capital Transit (1.50) 1014 05 128 1091, Wash Gas Lt com Wash Gas Lt pfd . Wash Ry & El com’ (236) | Wash Ry & El ptd (5) Newmont Votes Dividend in Campden, N. J.,, was sole bidder w-! New Shares day on two 10,000-ton light cruisers, | By the Associated Press, NEW YORK, May 8.—Directors of Newmont Mining Corp. today de- clared a stock dividend of one share for each share held, payable June 28 to holders of record May 31, plus the usual quarterly dividend of 50 cents cash, payable June 17 to record May 31. The new shares will not be en- titled to receive the cash dividend Jjust declared. Insurance Stocks NEW YORK. May 8 (P).—National As- sociation Securities Dealers, Inc.: Aetna Cas (4a) Aetna Ins (1.60 Aetna Life (1.20a) _. Am Fauit (1) Am Ins Nwk (i3 Am Feins (1.60a) Am Reserve (113) Am Surety (215) Automobile (1a) City of N Y (1 Conn Gen Lif | Globe & Ruf Gt Amer Ins i Homestead (1) 2 Knickerbocker ('2) Lincoln Fire _ ryland Ca Mass Bond (3% Natl Fire (2) ___ Natl Liberty (20a New Amster Cas | | N Hampshire (1.60a N Y Fire (.80) Nor East Ins _ Nor River (1) Phoenix (2a) Prov Wash (1a) Rep Ins Tex (1 Revere (P) In ( Rh Tsl Ins BANK AND TRUST COMPANY. Amer Sec & Bank of Bethesda (¥5) Tr Co (eR)__ St Paul Fire (R) Springf eld (472a) Sun Life (15) _ Travelers (16) USFid & G (1) U 8 Fire (%) ___ Westchester (1.20a) Natl Sav & Tr (4.00) = Pr George: Bk & Tr (1.60)_ Riggs (e8) Riggs pfd Washington (6) Wash Loan & Trust (e8)_ American (16) Firemen's (1.40) 7 National Union (.75) 18 TITLE INSURANCE Columbia (k.30) ST Real Estate (m6) T MISCELLANEOUS. | Carpel Corp (2.00) Lanston Monotype (2.00) | Linc Serv com (%1.00) nc Serv 77 pr pfd (3.50) | Mergenthaler’ Lino (p.30) | Nari Mtge & Inv pfd 1d.35) | People Drug Str com new. . Real Est M & G pfd (.00) Security Btorage (5) Ter Ref & Wh Corp (3) Wdwd & Loth com (52.00) Wdwd & Loth ofd (7) *Ex dividend. +Plus exti d 35¢ paid in 1930, . ®$14.00 extra paid December 23. 39, K 20c extra. m $1.50_extra. p50c paid ‘September 20, 1938. s $2.00 paid in 20. ;g.‘l’. .y $5.00 51 118 1939, 150c " paig" December ) v $1.00 extra paid January, 1040. extra Chicago Stock Market CHICAGO, May 8 (.—Following is_the complete. list of transactions on the Chi- cago Stock Exchange today: les. STOCK! 40 Acme Steel 200 Allied Lab 10 Allis-Ch' Mfx 20 Altorfer Bros pf _ 231Am Tel & Tel 100 Armour & Co.__ 400 Aro Equip . 100 Asbestos Mfg 350 Aviation Corp 0 Cen Iil Pub Sve pf 0 Cen & 5 W Ut 6 100 50 Chi Corp pf_ 100 Chi_Yell Cab ~ 189 Chrysler Corp 300 Cities Serv 3050 Com'with Edis. 50 Cons_Oil = 30 Container Corp_ o 68 Gen Out Advert _ 10 Goodyetr T & R 100 Meileman (G) Br 100 Houd-Her B 100 Indep Pneu Tool 20 Inland Steel 100 Int Harvester 20 Inter Pow $6 pf 20 Jarvis_(WB) ‘100 Katz Drug _ 10Ky Ut Jr cum of 4 Lib-McN & L 400 Lincoln Print 20 Lincoln_Print pf 200 Mash ~ Field 100 Merch & Mifrs 350 Mid West_Corp 250 Midland Unit pf M m pt 30 Nor Paper Mills _ 50 Nor'west Bancorp 150 Penn R R - 27 Peop Gas L & C_ 10 Perfect Circle _ 50 Potter Co - 103 Pressed 8tl Car 10 Quaker Oats 20 Quaker Oats pf 50 Reliance Mfg S S SIS Be: 10080 Bend L 100 8td Oil Ind 800 Stewart-Warn 850 Sunstrand M Tool 100 Swift & Co. ft Int _ 100 Trane Co 41 Union Carbide 150 Unit Air Lines_ 0U §_Steel - 21319 19 SIMSISID 12190 ImDumit RSO R R R S 0T Do 05 000w SIS 5 b 2 FEREITEES, SRR S t Un - ¥ 7 Wrigley (W) Jr 92i4 Stock sales today. 20.000 share 2 United States Treasury Posi By the Associated Press. The position of the Treasury May 6, e 3 %e:rkhg“gl led istoms receipts for mon! d‘i‘t for year tion compared with comparable date s vear ago: a Also extra or extras. Quotations furnished bv National Asso- ciation of Securities Dealers, Inc.. which states they do not necessarily reflect actual transactions or firm bids or, offers but should indicate approximate prices. {Maryland Tobacco The four Southern Maryland _auction markets Upper Marlboro. Hughesville. La Plata and Waldorf opened the 1940 marketin; son vesterday. Average prices for tobacco sold were slightly higher on the majority of aualities with dull. fair and low tips. and e seconds selling from $2 to hundred higher, as compared with average prices the last week of sales in I Compared with the opening week last s¢ son. all qualities were higher. with § creases to S11 per hundred. Estimated volume of sales yesterday for all points was approximately two hundred thousand pounds. Individual prices on the majority of sales ranged from $4 to &3 per hundred with a few baskets seliing above and below these levels. Average prices per 100 pounds by qual- ity were as follows: Tobacco of Medium to Heavy Body. Wk.ending. Wk.ending. May 7. Sept.14,'39. May 4.'39. ranging from $3 Dull crop: Fine . dark . green 6.25 Tobacco of Thin to Medium Body. Bright crop: Fine _____ 3 Short-Term Securities (Reported by Smith, Barney & Co.) Ofter. 110% 82 107% 0 t South “A” 5s 43 Central Foundry 6s 41 R of Ga bs 42 Childs Co b8 43 __ Colo Fuel & Iron 5s 43 - Conn & Pass Riv R R 45 43 Container Corp 5s 43_ Cuba North Rwys 5%as Delaware & Hudson 4s Fed Lt & Traction 8s P Ind 4%2s 41 Intl Hvdro-Electric 6s 44 _ Int Mer Marine 6s 41 Laclede Gas Light 5s 42 Lake Erie & West 55 41 Lehigh Val Term Ry 5s 41 Ligeett & Myers 7s 44 N Y Gep & Hud Riv 4542 = S Pennsylvania Co 3%as 41 Penn-Dixie Cement 6s 41 P Co 45 43 0. A C 6s 43 SEaSEiS s S gntenag 535335533 3R0RNRI5 (e AR O SS Utah Power & Light 5s 44 Warren Bros 6s 41 West N Pa_4s 43 Notional Morigage & Investment Corp. 1312 N. Y. Ave. NW. _NAtonal 5433 for construction loans and term loans from and Maryland. REAL ESTATE MORTGAGE AND GUARANTY CORP. 1610 K St. N.W. NAtional 1403 % Canned Goods Exports General Motors Sales Reach Peak Since April, 1937 Month’s Volume Soars To 183,481, Against 132,612 Year Ago By the Associated Press. YORK, May 8—General Motors Corp. today reported sales of cars and trucks to consumers in the United States in April increased to 183,481 units, highest for any month since April, 1937, from 174,625 in March and 132,612 in April last year. Sales to consumers for the first four months of the year amounted to 602,789, a new high record for such a period, against 446,790 in the corresponding 1939 months. Sales to United States dealers last month totaled 183,900 units, against 1181066 in March and 126275 a year ago. Sales to United States dealers for the first four months of 690,349 units also established a mew high for such period, and compared with 501,872 last year. Total April sales to dealers in the United States and Canada, plus overseas shipments amounted to 196,747 units, compared with 193,522 in March and 142,002 last year. Total sales to dealers in the United States and Canada, plus overseas shipments in the first four months were 745,929 units, against 573,059 in the like 1939 period. DETROIT, May 8 (#).—Buick di- vision of General Motors Corp. re- ported today that its retail sales of new cars during April totaled 28,652 compared with 24402 in March and 21,343 in April last year. Sales during the final 10 days of April numbered 10,073 compared with 9,667 in the preceding 10-day period. Oldsmobile’s retail sales of new units during April were 20,311, com- pared with 14,598 during the com- parable period a year ago. Prom January 1 to April 30 Olds- mobile’s new car sales numbered 65, 070, compared with 47,696 during the first four months of 1939. Nash Motors reported retail sales of 1617 units in the last 10 days | of April compared with 1250 dur- | ing the preceding 10-day period. Increase in Copper Production Shown | By the Associated Press. The Bureau of Mines yesterday reported a 27 per cent increase in production of American refined cop- | per last year due largely to the war 1 Officials said heavy foreign pur- chases likely were for bomb casings. | shells and bullets. Japan led all| customers, taking 249,276.881 pounds; of refined copper. and France was second with 152,048,789 pounds | Russia, which received no refined | copper from this country during | the first 10 months, took 25 per cent, or 45496,194 pounds, of the total output in November and De- cember. | Improvement in the American | copper industry included greater | domestic consumption, exports and | production; higher prices and| smaller inventories. l Dividend Increased By Union Tank Car By the Associated Press. | CHICAGO, May 8.—Directors of the Union Tank Car Co. yesterday declared a quarterly dividend of 45 cents a share on the capital swck,; payable June 1 to stock of record | May 17. The stock had been on a | 30 cents quarterly oasls and for the | last two quarters extras of 10 cents a | share were paid. Boosted by Japan By the Associated Press. SAN FRANGISCO, May 8.—Com- merce Department reports showed Japanese exports of canned goods hit a new record volume in 1939, of about 405,000,000 pounds for about $33,000.000. Volume was up 20 per cent and value 42 per cent. Finnish aid funds have had large contributions in Natal. For QUALITY 24-Hr. Day Service in Letterpress or Offset PRINTING . . . A staff of skilled experts operating one of the Iargest plants in the Is yo ssurance of ved work. Lincoln 6060 | measures were to develop and in- | United States markets. | Simonds Dividend Voted FINANCIA $14,186,569 Earned By American 6. & E. In 12 Months Result Compares With $12,715,137 Net in Preceding Period By the Associated Press. NEW YORK, May 8—American Gas & Electric Co. and subsidiaries today reported net income for 12 months ended March 31 of $14,186,- 569, equal after preferred dividend requirements to $2.71 a common share. This compared with $12,715,~ 137, or $2.36 cents on common, in the preceding 12 months. General Shoe Corp. General Shoe Corp. earned net profit of $241817 in the quarter ended April 30, equal to 37 cents on common, compared with $240,- 836, also 37 cents, in the April quar- ter last year. Company operates 10 plants in the South. Cerro De Pasco Copper. Cerro De Pasco Copper Corp. earned net profit in the first quar- ter of about $965900 after all{| charges, including depletion, equal to 86 cents a capital share, E. H. Clark told stockholders at the an- nual meeting. This compared with $533.600, or 48 cents, in the first 1939 quarter. “The betterment in earnings,” Clark said, “is attributable to the|| substantially higher prices received for metal sold.” Commodity Corporations Creafed at Manila By the Associated Press. MANILA, May 8. — President Manuel L. Quezon yesterday signed two bills creating government-con- trolled tobacco and coconut cor- porations capitalized at $15,000,000, of which $10,000,000 was for the coconut corporation. The principal purposes of the dustrialize the coconut industry and to revive and promote the tobacco industry. Both depend largely on Funds for the two organizations | will be taken from the coconut oil | excise tax refunds made by the United States. NEW YORK, May 8 (Special) — Directors of Simonds Saw & Steei| Co. have declared a dividend of 40| cents a share, payable June 15, 1940, | to stockholders of record May 25, 1940. L. Money for Construction Loans and Loans on Completed Properties Favorable Rate FIRS1° OEED OF TRUST ONLY Phone ME. 4892 for PLANOGRAPH Office Recor Court Ex- Porms. Tds. hibits. Maps, Charts. and Advertising Matter. Prompt and Efficient Service. Colymbia Planograph Co. 52 L Street N.E. SECURITIES SALESMEN We have openings for two salesmen in our retail sales department. Live leads fur- nished; intelligent co-opera- || tion; complete trading and || statistical services; liberal commission basis. Phone or Write for Appointment McKnew, Fairfax & Co., Inc. (Government. Municipal, Corporation and Real Estate Securities) 719 Fifteenth St. NW. District 3160 . SAVINGS INVESTMENTS DIVIDENDS SECURITY What more can you get for your money? This Associa- tion has never caused the loss of a single dollar to its investors, nor has it failed to oy semi-annual dividends for 37 years. Your savings insured up to $5.000 by an agency of the U.S. Goot. Nev accounts invited from $1.00 to $5.000 NQRTHWESTERN SAVINGS & LOAN L No. 1 Colorado Bidg. NA. 7335 G 8t. at 14th N.w. Branch Takoma Pk MORTGAGE LOANS HOUSES APARTMENTS BUSINESS PROPERTIES RANDALL H. HAGNER & COMPANY (NCORPORATED MORTGAGE LoAN CORRSSPONDENTY e Gk Gp Irurameompony 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 principal. Equitable Co-operative S and Applications There are no Consult any of Saturdays 9 to 12 Ry = Office Hours 9 to 4— 915 F ST. N.W, ET us handle your real estate home loan financing. considered on improved property, not only in Washington but in nearby Maryland and Virginia. commissions or renewal charges. Interest only on unpaid balence of principal monthly. * Many savers have accumulated substemtial balances by regular additions to their share accounts with us. our officers for information. No obligation, of course. AMERICAN BUILDING ASSOCIATION FENNSYLVANIA AVENUE S.E. OFFICERS: WILTON M. PROSPERI, Chairman of Besrd ":..: LE, President Assets are now in excess of I a) Association ORGANIZED 1879 T 72 REAL ESTATE LOANS TN | LINCOLN 0130 DIRECTORS: J0HN £ ME CHATHAM N, NAR| 5 CHAS. A, RoSS! w. DUDL 1CKNALL .l.’""l.“&”'Allll $12,600,000.00 ITRVRERRCEAEEREEN Zn \ &