Evening Star Newspaper, March 13, 1921, Page 29

THAT MIGHT HAVE HAPPENED . UNDER CERTAIN CONDITIONS ! ‘Speculation on Possibilities Had Federal DEMAND FOR STEEL | Week’s Price Range New York Stock Exchange/SAVINGS DEPOSIT CONTINUES IGHT| et o e 1 o ptestmeme=™ | SHATTER REGORDS ! they should have made any progress| Purposes. placed to advantage at 42 to 53 cents | 304 264 2% — 34| 903 193 — Seneca Copper. - 1544 12 13- 2y High. Low. Div. Week ending March 13, 181, Net. High. Low. Di Wesk smiiag March 12, 1001, Net. e High. Lew. Close. Chge. ——1921. Rate. . Low. lose. Chge. illed— T o AQVRUmIey..omew 1D 1605 16— 14| 9% 4535 4 KanCitySoupf.... ® 463 4% — 24 10 P Reserve Act Been Kille ankers |Market Unsettled and Nerv-| i3° 2 7 Avaveenproooy S 636 % 3| 9 35 4 xens.spnepned.. a1 3 37— ;/Increased Nearly er = = 0 -5 . E . 3914 2514 — Ajax Rubber 24 8 B 46 3B Kelsey Wheel...... 46 35 . .. Agree on Its Value. ous—Pig Iron Weak, 1% % — AlaskaGold. B 1 1 — %21 16 — KennecottCopper... 17% 16 1635 — I} Cent During 1920 in U. S., 13 1 — AlaskaJuneau 13 1% 14— {17 84 — KeystoneTire..... 163§ .m.*‘ w‘,! - 13 Official Figures Show. 1 th t of $355.600 1 Copper Slumps. 5515 383 — Allied Chemical. 8 /|y £ - :; gga :?Z g Lackawanoa Steel. : ::h :‘:,z— 4“ v BY L A. FLEMING. e amount of $355.600 was retires e calpr. 903 89 8% — 14| 24 Leo Rubber. ... 21 — 35| By the Assoclated Press S and canceled during the year through | NEW YORK. March 12—The de-| %76 88 7 Allied Chemical pt. o) B YORK: S ab - David A. Forgan, president of the | oo 2oi0n"0r “the sinking fund pro- |mand for steel continue small and| 373, 298 4 Allis-Chalmers..... 36 34 343 — 34} 5614 4935 3§ Lehigh Valley. 533 *49l§ 4% 2!§ 1 NEW YORK. March 12— Savings National City Bank of Chicago, de-| visi A - very little in txceabc fl! normal re- 6534 45% 8 Am AgriChemical.. 49 475% 8%+ 3% 18K 15 2 LoewsInc. % :auks dxcpos':ts (hrnugh';vu' the Unite p s e there may be trying times |plenishments. New bookings are very 78 % 7 jed = 7, — sg|States in 1920 cclipsed all previous clared the other day that “but for| . o3%c "riin s 'of indusiry, | disappointing, with the Steel Cor-| 54 4615 4 Am BankNote..... 52 52 52 —1 3“ 33" LoftInc........ 1054 “g" :'1’ = ey 1he existence of the federal reserve|your officers hope that the most dif- | poration showing heavy losses dur-| 51 30 8 AmBeetSugar..... 45) 39 40 — 5411664 13T 12 Lorfllard (P).—. 1624 147 1 ‘3] Statisties made pubtic nt | eystem. we would mow be in thelfoult period of post-war readjust-|ing Fepruary, Prices are UregWiar| i3, 4915 5 AmFoschMagneto. 54 52§ )%+ 3 42 31 - 35 ;'5, F+ Jliy the Rurings Bonks Amaciation of ' midst of a panic” = 3 th the questions of labor read-| 323 °5 — AmCan... 203 25% 26 — 2%|10% 9K 7 9% 97% — 24| the state of New York showed that It is an interesting proposition. Deparimental Bank, Opening. Jjustments and frelght rates unde- | sris 1o 120€ 121 12 —1%| 68 5 6 613 613 — 4% |dcposits in the 635 savings institu- 5 Monday, March 14. will mark the |[{i 1 ined. the whole market is un-|127% 120 12 AmCar&Fdy 8% 45 7 50 51 tions on January 1 last totaled $.- what w, ave 5 . - 5 " Just what woud have happened if| tormal opening of the Departmental | cattlod ang nervous, with buyers| 20 213 — Am ChicleCo. B3 2 2 151 5845 45k 4, |335.:389.904, an imcrease of 9.38 per fhis great act had not been written | Bank, at 1714 Pennsylvania avenue | |imifing orders to bare nccu!iliex;k 214 100 — AmCottonOil...... 21% 19K 19% — 1% ;g &;K = % 1;%; 2 gent over ‘the previous banner year, ‘on the statute books? This institution was organized, with | it finacee have been blown out,| 8% 6% — AmDrugsistSyn... 6% 6% 64— % 8 3 3] The 410 banks in the New England We never could have loaned ouUT|a capital of $500.000, authorized, to( byt producers find It dificult to dis- 133 120 8 Am Fworess 12234 *122)4 1224 1674 141 12 M4 5% —10% | states had deposits of $2.112.632.421, allies and others over wine billions| provide greater resources than ‘the | poo Pee eClN" the reduced production I EIrean s 9 8 8% — 34 19% 15% 2 MiamiCopper...... 18X 164 16% — 13§|representing an increase of 7.53 per of money; we could not have sold|Society for Savings has brought to ;14 %o ‘market awaits development | 11 8 — AmHice&Lea..... 4 4 | 156 113160 M3010 Staton 13§ M 113 — 1% | cent. &seventeen billions u‘! gfrlynboxn“ lll; '%s‘;}‘xx;‘iz?r}n e ¢ the De.|in the steel trade. 531{ 403 — Am Hide & L pf. 5y 2y BY-1 g - -_d':‘ o l-.._.. 29 304 ); l!;ni u"iz cTatern sl'-Ahleuh d(‘lpomfl i-; n an. . T. E: 3 ier o he e~ b 4 { - it e el 3 T t] t t 5| v:)): ll‘h’fflmy 2. 'r:u::insm:a could | partméntal Bank, was one of the Electrolytic Copper Drops. 52 42 4 AmIce . . 49 48N i — Minn &St L (n| 9 1044—2 |the now “Year amounted 1o $3456.- ' not have advanced two billions and founders of the Society for Savings Electrolytic copper has sold at 12| 43¢ 3814 — Am International.. 45% 404 580,900, an increase of 10.78 per <ent . Thatrati cond’ cdmpaiien and managed it during jta career be- | cents this week, the lowest price N e 9 84 7 MStP&SSM. 6 08 —341"m)." twenty-one mutual = sawings over to the Eqmpanen : fore merging with the Departmental. | touched since November 19. Only two | 104 8!{ 1 AmLaFrance 2 — Mo Kan & Tex 2% 2 2 — Y|ibanks in the middle western states In the days of old a billion-dollar | geclares that a lasting foundation | or three of the smuller producers are | 621§ 461§ 3 Am Linseed 48% A% Gty s T docoat : Congress was looked upon as Wildly | },5 peen laid for the new institu- |offering the metal at this low level, 87 81§ 6 A Totometive 863 81 — MoKan&Tpfe—s 44 44 ;is}?{‘,’,,‘,“ The greatest ST B cxtravagant and was given a Proper tion, as it is being upbuilded on the |and transactions have been in small |"8744 : e 4 2 T 0% — MOPAcHiC...ccomew 19 16 16 — 2K} 00i0 in this group was made by Ohin, dose_of public opprobrium. . |ldel of financial service to govern-|lots. Refusing to meet the decline, | 73}§ 66’3 4 Am Radiator.. Y 8 ific b 9% B 35 — 34|with an increase for the yi af Today we issue hundreds of mil-iment employes, furnished by means |larger producers are getting no busi- | 1o % Safety Razor... 1% 6 — MoPacifichf....s 3} 34 $3.802,656. Wisconsin made Py riat lions on millions of dollars Worth of | of their own bank. It mow has 5.000 | ness. Reduetions. of % to 1o cent| 1 08 a Amsatety T 6% 3 Montana Power.... 54 828 53— 1§ QCSTRIRC L PO Tnereane, 2506 Treasury certificates every month,|shareholders and 10,000 are expected | per pound have been announced in | 14 6, — AmShip&Com.... >4 % 4 Mullins Body.....a 25} 2% 25 —1 In the Pacific coast states the in- that the government may continue{to be interested by the end of the |the price of brass and copper prod-| 4415 35 4 AmSmelting.. 4114 36% =T 20 2% 208 — 1% |crease for the year was 699 per cent functioning: banks aid the general|current year. |t but without improvement in do- | g™ 7. 7 AT Clting of. 9 BY MIACIO: ssesese 7¢ | California _showed 2 gain of 6.07 wer public buying these certificates free-| The bank will pay 5 per cent in- tic demand, while export business 4 2 106 *102 = 30% 303 — Z6lcent and Washington, 12.48. iy 40 tide over the government be- (ere;;l‘on savings of xnvr‘rnm\;)nlal has been checked by unsettled. even 106 9 8 o - 244 24— %| Although there are.savings institu- tween tax payment periods and when ;rm oges.l as nl-e. b;"smeals of |]hn;wml\|} pol!tl‘lalv.t Qnr:‘dl%lu-nf'- The sglela of Y 0 3 30 2944 % 4 1 0% 6 553§ 553 — 234 | tions of various kinds in the southern the expenses ‘are greater than the | Wil B JatEew. i ot exclusively,jcopper at the twelve-cemt lovel stlis 88 7 . o0ng 8 9 — Y i 6 states, the asgoclation: did not give-de- receipts. Two-thicds of the henk's losns are | ts Cunade, and it 35 meid thec the 7 t 1024 1005 100} — 134 03¢ 0% tailed figures, but quoted only the fig- We think. apparently. nowadays in | yoc ro3" 005,00 10€ 00RCE ERIR TS [ A1cry “are trying to mecure orders |14 190 Am Sugsr D 87 T4 80 — 6%) ®% 44 — NatIRRMex2a. 5405 4% = 5fuvesitiosy emal mutual esvings (enk billions rather than plain hundreds|ine pasis of all business, but credit | from abroad on the basis of 123 | 8 733§ 10 AmSumatra 015 102 + %) 12 9% — Nevada Copper 19 9% 94— 1%|in West Virginla The ratio of in- and occasional millions. _,_|plus character will count with the{cents c. i. f. London. Meanwhile {102 953 8 Am Tel& Tel 102 10134 102 % 60 6 NOTex& Mex. 0 614 67— 24| reaaof th e A18E e It would have been @ serious mat-! Departmental. The official roster is | swocks are still accumulating and |1235¢ 1193 12 Am Tobacco 120 1123 1152 — 2} 2 . i o oaar T LA PEtioent ter, the financing of the war without |largely from the departments of the | further wage reduction talk is being 4 n 1173 1104 113% — 3% 89 74{ 10 NY Air Brake...... 804 74% 75 — 6 |over.last year. .the reserve system. It was not in|government. heard. Domestic production for Jan- |120% 110 12 Am Tobacco (B) 4 2 g 6 67 — 4% existence until November, 1914, and| In twenty-five years the Society |uary and February is estimated at| 7174 57 7 Am Woolen... 651 625 64 £ 45 -2 \ late in the month at that, while the|for Savings loaned $3,250,000, with a [about 170,000,000 pounds and imports 39% 30 — AmWriting Pprof. 32% 304 — 2 2 = war started in August. 1914, but we [108s of less than one-fourth of 150,000,000, compared With an esti- & i 815 2086 20%— 1% Mmey to l‘)a.n had the Aldrich-Vreeland act on the|Per cent. mated consumption of 110,000,000 and | 9 8 — AmZinc... & — NYNewHaven.... 19% 16 17— 2% books, and that served its purpose Local Securities. exports of $0,000,000. 33 2 — AmZincpf 28 1 NYOntario& W... 17 16 16— 134 | Becursd by First Doed of Trest on Real Netate, excellently. 2 The surprise in local securities dur- Other Metals in Review. 40} 337 — Anaconda..... 3814 T 1004 93 o4 5 {aterest and commission. : The Aldrich-Vreeland act had & de- | ing (he week was the Increase in the | = Lead is rather firm in consequence | gi8 JF% 7 2534 7 Norfolk & Westrn. 4 34 — 5% | Joseph L. Weller $2 Wash L. & Trest cided snap in it—a deflation power | dividend of the Capital Traction|of improvement in London and in 34 % 5 North American. 53 6%+ % ] all its own, with the provision for | Company. Unexpected, but no doubt | sterling exchange. Offerings of | 10235 94 6 7 Northern Pacific 5% % — 3% increased taxation—the longer a|warranted, and none the less wel- | prompt are light. 85 % 6 & 975 . banking institution used the emer-|come to the shareholders, it added[ Tin, after establishing a new post- 3% 77 6 Atchison.. 7 1 04— 1% 38 31 5 NovaScotiaSteel... 36 32 32 —35 ) gency currency the higher the tax e l:mm a 3‘3"“.“’ 'flf n‘.'m:'e of war low record, rallieq nearly a cent | 793§ 754 5 Atchison pf. é:u' 8l 81’1 gl 4 3% 40 OklahomaProd.... 34 3% 3IH-— Y% P e shares, advancing the: 0o afwith th ti ‘ 7 ine. it e %as not a rediscounting meas- | strong $6. Straita AR Ices Trom. thondon and | g6} §1 7 AtlanticCstLine % s - | P P 2 Orpheum Circuit 236 25% 24— % wure, but it permitted the use of high- Other local stocks have acted rea-|cate that some holders are inclined| 9 614 — Atlantic Fruit 1 39? 4055 — % 130 115 8 Otis Elevator. 183 128 — 4% grade collateral at a percentage of | sonably well, all things considered, | to sell. 76 384 10 Atlantic Gulf. 44 4 s 16 127§ — OtisSteel.......... 14 12§ 123§ — 14 P face and actual value o obtain cur- | while bonde, too. have held their | Zinc' remains steads, despite the| g; 3¢ 5 AvantioGuirpf.... 3% 35 3 — Y4 103 113 — Pacific Develop,..a 135 13 113 — 134 sAVINGS BANK ney. . ower London market. In some di- 17 = ” ” 74— 2 T The liberty loans were put over| There is no good reason why there | rections there have been efforts to| 94% 824 7 BaldwinLoco.....s 0% 82 gfi‘_ g“ 85 46 5 PacificGas&Elec.. 473§ 46% 46%— 7§ - . through united and persistent effort, | should be any sympathetic move- |move spot stocks, but in the absence | 3755 303 — Balto & Ohio. . 345 3025 34 4135 27% — Pacific Oil M4 WM 29 —2 through patriotism and the work of |ment here in common with the riot | of consuming demand prices have 7 A Ohtlo pf. 51 48 48 —2% R s e s | patriotic workers, the banks stand- of selling in the New York stock | remained nominally unchanged. 4 48 Balto & Ohlo pf. 5 2% B — X 42 38){ — PacificTel&Tel... 41 40% 41 — 1% . | ing ready to accept 10 per cent pay-|market. Our utilities are in strong | Antimony unchanged, with only a | 35 ® % Ton; 1 141 7% 6644 6 PanAmPetrol..... 753 664 68} — 5% ments monthly on _subscriptions. | positions. moderate business, apart from some | g1 2{ s B+ I8laal 501l 6 Pan Am Petrol 68 1 . They were enabled to g0 far in doing | Finamcial Washington Pleased. | distress iots, which are being sold at | 44 sy 53 sag+ 1) T4 5 an Am Petrol (B). 53 6L — 6% this by the rediscounting privileBeS| minancial Washington is decidedly | CONCessions. 599, 5014 « 5 Beth Steel. i w s 13¢ 1545 12)5 — Parrish & Bing. 15 13% 1%+ % O me federa ey e with | uisfied with the return of two well &) % 5 Dethsteel ®...... B Wi 97 Byl 350 3 pennayivania B 3% B — ¥ ic = 7 i 3 )3 2= A - the national” bank act and the Al- s, to the Diatrictcom: BALTIMORE PRODUCE. & 4 — BoothFisheries e 14— 35| I 8 — PennSeabasteel.. 104 8% 94— 13§ , drich-Vreeland combined. teen byl | ¥ith the last appointees ang their | BALTIMORE, March 12—Egg re-| 148 10/ — BkiynRapidTran.. 2% 78 727 5040 3354 — PeoplesGas. 0% 3135 /-1 ! pever could have gome sevente ;:gum.&s‘c?‘.ng; ).l-: been llell:ened‘ ;:elp(; have continued fair, but there| 594 51 — Bklyn Union Gas. 35:& = & » | 193 15% — PereMarquette.... 184 15 16% — 1% 3 g erially by the appointment |is a better movement and = > = Leas Generous. of Cuno H. Rudolph and Capt. James | closes steady today. witn lahze c'::f:': 2 3 Brown Shoe. 8 8 8 — 1% 354 32 3 PhiladelphiaCo.... 33% 32 32 —1 To a certainty, 1t we did not have | F. Oyster. dozen the top price for strictly fresh | 91% 814 10 BurnsBros. & ; 3] 314 234 — Phillips Petroleum. 263§ 243§ 2415 — 1§ the billions we could not have been | Both are well known. Mr. Rudolph | nearby stock. With prices at this| 6 4% — Butte Copper & Z. 5 4 L4— A% 277 193 — Pierce Arrow. 2% 8o generous with our fighting allles | is the president of the Second Na- |level, cold storage operators are 12 103 105 — 1% i .. 2436 253 — 134 Teial and some who fought not. tional Bank. Capt. Oyster is a direc- | showing an interest in the market| 145 103 — Butte & Superior. z 16 174 — 2| 2% 8 8 Plerce Arrow pt. 8 Y 6% — 1% 4 Weeks Free In that event our allies, fighting | tor of the Richmond Regional Bank, |and prospects favor a freer outward | 20 14% — Butterick.... 19% 1% {117 10 — PierceOil.. 100 — 34 MOTION PICTURE , and btherwise. could not h and is in the habit of attending con- | movement from this on. with a firmer | 1g5; 11§ — Caddo Central.. M1 124 Ddj el gesc 5 pises coal our great mills ventions of the District Bankers'|tone, and prompt shipments are now 617§ 5915 5% — 2 % s DRl 57 -2 overtime with their orders for war| pseociation. advisable, as prices will hardly go| 4% %% 6 CalifPackini Y 4 2 32 25 — Pitts& West V: 2% —3 le material and sustenance, for Which| If any two men in Washington un-|to a higher level for some time. 42% 25 — Calif Petrol. 393 34 36 2% 14% 12X 1 Pond Creek Coal 12% — % |And ial report on any Compan: we_ paid. derstand local conditions, they do. In the live poultry market old hens Pacific... 114} 110% 112 —2 4 | And special rep Y. The wonderful period of prosperity The Takiag of Losses. show an improvement, and, under |119% 1103 10 Canadian . 78 Cagi_ ) %8 BIXK 8 PressedSteelCar. 8% — 53¢ |in which you may be intereste that developed Alter AlX i "hatios| When a man departs from his reg- lghter receipts and a- fairly good | 43% 354 — CentralLeather.... g;/: .gv ‘23’%‘: 1}‘ 62 54 4 PublicServiceNJ. 60 — 13|Subscription $2 per year. Great entered the strugle, might not have | UIar line of business and takes a|Se"GN{, DOVe Avanced to 33 and| o6 8 7 Cemtralleapf..... " o 1 g {111 102 8 PulimanCo........ 105) 102} 103} — 134 value to those interested e nhbu!- materialized, and the era of high ',:)lr; % n 'z" ln;rk stocks, to the lare in active request, when smootn |209 185 8 "Centralof NJ. 513% 43% 8 Punta AllegreSug.. 49 “y 46 — ness in which there are all the gi- e e o ITiehe paoy | allowed to take the loss Trom ihe gove | 214 .fat, and prices hold up well, 33 | 321§ 28 2 Cerrode Pasco. Wi Pl 3 4 pureoit....... C & 3 a4 13| Eantic profits of oil with noue of ! e , ~}and 40 cents being quoted: but poor 3 0 ler Motors. % oil’s hazards. rite ay. g ernment’s share of his income? 75% 64 10 Chandler Mo 8 82 8 RysSteelSpring.... 8% 8 8 — > O *'Patriotism of the American people | He is allowed to under recent rul- | 30, YREEY chickens are slow sale| o) (0 'y cnesa Obio. . %= il g 11— RayComsolorrirs 13§ 1 15— 14| ek Brestey T Anfuine O would have found a way to sell an|Ings but it would be much morelcns two and:-onehalf ‘pounds and| 9 74 — ChiGtWestern. 4~ Y4l gl 61 4 Reaai Y enormous quantity of United States| conducive to smaller -speculation if | under there is-a broadening Gemand A B .16 18 =2l eading. ... . « T4 6% 68%—6 bonds to have financed our owa pazt | this ruling was reversed and placed |a¢ 43 and 43 cents, Turkey season| 20% 16 “ ChiG:'Western pf ) 5 304 2 Readinglstpf..... 4205 37 38} — 435 of the war, but the chances are there | o0l the unequitable basis of paying a|is nearly over and there is & falling| 31 23 — ChiMii&StPsul... 2% 2B 24— 3%l o 4" 2 Reading 2a pt e TE NOTES Would have been many stringencies | taX on gains and standing your own | o' fa both Seceipts and et ol 36 — CHIMU&StPDL.. 4% 36 363 — 5%| o : K 40 40— 4| 79 REAL ESTA and some serious panics during the | losses. It {s presumed that all|though prices still hold at 40 to 54| 4% 6 &% 645 — 2% 3134 25)4 — Remington Typr...: 303§ 2515 2515 — 43§ . . period of the war and since then, but | trades are entered into for profit, and | cante & moved. . Yonos meimce'vooq| 71 63 5 Chis Northwn. 5 3004 24 — Replogle Steel. . 25 —2 Conservative Valuations nothing more strenuous than at this | therefore the loss of a speculative | are wanted at §5 cents each. but o1d 110 105 7 Chi&Northwnpf.. 105 102 102 —4 T4 60% 6 Replrona time, unless much of the inflation and | trade may be deducted from {ncome | will bring but 50 and 55 Blesons e i 603 ep Iron & Steel % — 3% : * extravagance had been avoided. for tax purposes. are also in fair demand at 50 ama| 0% % 8 244 144 — Rep Motor Trk.. 14% — 4% Secured by first deed The. government could never have| It is unquestionably square for the | 3 cents o pare " Toors cortino arc | 7 2% — 24— 3] 691 563 520 Royal Duteh of trust on high-class i afforded to alivance two billions to | man in business to'take deductions|under light receipts and good de- 6 58 —4 . % 6B + 24 Mkpcaditis ' Tailroads, mor would the ‘railroads | for his legitimate losses in business, | mand for large fat Btock at 36 to g2| 88 56% i R 0% — 2% 244 19% — StL&SanFran. 20 - 2% properties. * | have needed the money, as the Adam- | But there is an ethical question in the | cents a pound. The season for geese| 75 083% 7 CRIRI&PT%DL. {1 oo} 30 2% — StLSouthwestrn... 2% 255 27 — 2 makers, * son act would not have been enacted. | deduction of speculative losses. is_about over. 12% 9 ~— ChileCopper. 94— 1%} 4" 35" — gL Soutw it %] If it had not been for the federai| If a business man wagers on a| With the season for dressed poultry 2 i 2% — 1% uthwn pt. 3B 36 — 3 reserve act, the forces of Germany | hOrse race he may not take his losses | fast drawing to a close the market 1o | 2% 19% ~ Chino Copper. Wi gl B6 2% — SaxonMotors...... 4% 455 45— 11 .- GLOVER & FLATHER might have found e foothold on the{in figuring his income tax. Why | steady, but no special life “to de-| 62 43% 6 CluettPeabody. % 12 8/ — Seaboard AirLpf.. 10 8% 1 % Facred soll of the Usited States, but | Should be be allowed to deduct Tosses [ mand. Capons are the principal ai-| 25~ 19 — 205 — 14} oo 7ol g & s 10 — 1 737 15th St. N.W. % Devond the imagination that|on Wall street made for speculative | traciion and more of thons oimn e 3 % 8 Sears Roebuck WY Y T4 — 44 6 7 4 7 7 2 3 7 4 in the line of United States invasion, | Taxes this year will be badly jolted | a pound, but trading In other 1i il 3¢ 20! 32— 4 ek Genplte theiy up-to-tha-minute readi- ) Y the enormous losses taken off for | jimited " The demasd for amimcpit 1 574 56%‘ Columbia Gas 53 51 ong—2y| OF 4% — Shattuck Ariz Cop.. mess, their war inventions, humane | the vear 1920. tatoes 1s far from satisfactory, in| O 78 Lty S 8 8 8 — 1g) 464 384 74 Shell Trans & Tra. 280 Iahumane. “Waxe Waste” in Rallroading. | consequence of which present supply | 124 7§ — Columbla Graph B 721 26% 19% — Sinclair Consol That they would have attempted it| We cited last week an instance|©n hand is more than ample for trade | 6214 49 Colum Graphonet pf: 825 *325 S24+ 8} 5™ 4130 6 g ons.Shemeld fn admitted in weil informed circles: | where one road is compelled to pay | feAUITements, with prices ranging|'sgie 351 Comf Tabulator.... 37 36 37 4+ %4 * ot that they would have failed i8 &R i§450 per man for half an honey|from 1.00 per 100 pounds for McCor- | S5/ 51 41 433 — 6|01 70 6 Southern Pacific ,American belfef. A work. The Assoclation of Railway| M!CKS t0 1.40 for cobblers and No. 1| 61 414 Consol Cigar & = o 2473 19% — Southern Railway e P e Reen our- fac. | EXecutives has published a statement | son in® mers, nd JAmS are holding | g23¢ 704 7 ConsolGas......... 88 T84 8 =3 " 57 5 southernmypt.... % X - c well in_price, v s % 3 tories working overtime for foreign |Showing how six men are now re- | which there is fair demand ot 400 vg| 7% 4% 2 CouslnterCallahan 5§ 47§ 23 167% 140° 5 Standard O NJ s, paid for with our own|duired for a one-man job. They say:|6.00 a barrel for the former and 4.60| 21% 17% 3 Consol Textile 2045 184 1836 4] 1055 7 & we have seen inflation in-| “Under present classification rules|and 5.50 for the latter. No. 2 stock | g8 563§ 7 ContCan 8 54 i— X% Stand OIIN J pf.... flated, and we have seen the process|Of the shop crafts—which the rail-|and culls of both sell af 2.50 and o0 - 1 14— 3| 3 2 4 Stewart Warner of deflation working out—slowly, but | roads are now seeking to have termi- | The demand for vegetables is slowing | 5 1 Cont Candy. 2 42% 21%{ — Stromberg Card, nevertheless working out to our re-|nated—such labor waste as illus-|up as the trade is now looking to| 73} 65 Corn Products...... 72% 6814 704 — 14| 623 “;‘ 7 G 7 o nabilitation. trated in the following case is of|sDring and Florida vegetables. which 2534 250 Cosden & Co 8% 2% 26 —2% Studebakes < . 5 Germany has not made the desperate | constant oocurrence: will have the call until native and | 324 = R 86! 74| 1% 7% 1 Submarine Boat. tions, possibly at a loss. |’;\"°“’;= there has betn no panic: we| “In order to change a nomle top in | Nearby garden truck makes fts ap- 107} 73 Crucible Steel. %~ T 135 73 — Buperior oil. nesessary: easing off, although prices still hold 26 20% Cubs Cane Sugar. he federal reserve act still functions 7 15% 15% - 1 e T57all a bollermaker and his|at 3-00 to 6.50 & barrel for No. 1 stoek, 4 Temtor C& F (A i in’a “frst-clase ‘manner for the goea |, L To call s bollermaker ana bie| S {here Ta only a falr movement | 612 614 7 CubaCane Suzpf. 4" X9 7 = tenesseeicop 7 - i ;m'grm:;s ::;.“v:\-'v‘:t‘:‘cturer. eatite ] o R etieraaker's. work: wl:lh damlM‘{i!nlen;! on the better of | 102 9814 Del & Hudson. 9814 — 134 5 3 b 28 H— % : 3 ; eating var exas Co...... 2 After all, bankers are glad it is on = es. | Loose _unpacked Del Lack & West. 20 —9 3 — 24 “2. To call & pipeman and his help-| stock will bring 2.00 to 2.50 per 100|220 208 er to remove the blower pipe, because | pounds, accordi - that is pipemen's work: and Bitiaae = os dausioiasdiben ]y g K the statute books. Babsen to Speak. Denver & RioG.... 1% 14 1§ Denver & RG pf. 2 25 2 i)W 2 Texas Pac C & Oil. 3 24% 1615 — Texas & Pacific.. 1 25%% 21 293 — 1y ¥ ; 2 “3. To call & machinist and his| Season for dressed hogs drawing to| 44 14 — %0 36— 7 o Desyoon, atatistician 0| neiper to remove the tip, because that|a close and no snap to demand as| 16% 10 1 DomeMines.... 185 144 155 — % T i oAt P men o STeat|is_machinists's work. from 6 to 14 Cents a nound. Country | 213 17 Elk Horn Coal 20 19 19415 o s — % * Organization, Wellesley Hills, A “The same three forces must bellard in good demand at 13 and 14 33 52 Endicott Johnson.. 61 57 58 — 214 9% 51% — 3% Wil be the hief speaker at the noo | MPloyed to put in the new tip. centsidpound it e 1% 15— 13 1% - % . | meating in the Tenten service at |, “Before federal control a machin- e e 47 1134 17 18— 1g) ¥ 36} 5 TransueaWilms.. 39 37 3 — i l 5—.@-- Theater Wednesday, March :;l ;O::Il:e{ingr_?:g. handy man put :f?v:%m BANK STATEMENT. flii 17 e anars 12% 138 — 14 160}4 145 10 Underwood Typr... 152}§ 15214 153%+8/ o 3 RK, March 12—The actual | 15% 12)§ — Erie2ndpf..... i T i e bia Graphephonse Showiax. Unquestionably many shareholders * in this corporation who received the pamphlet report for the year 1920, “Similarly, railroads are required | condition of clearing house banks and | gg; to employ members of three crafts— | trust companies for the week shows 8% ‘B., machinists, sheetmetal workers and|that they hold $34,683,930 reserve in| 86 57§ electriclans and their helpers—to | excess of legal requirements. This| 2014 23 Famous Players Fed Mines & S.. Fed Mines & S pf. 6 5% 55— g 2% 18% — Unionon ’ - 18 19 — g 25 24 24 — 2122 113% 10 Union Pacific 121 1138 *115% — 33 ; ; 2 34 4 Union Pacific pr... D etatday. fio s o make a repair to a locomotive head- | is an increase of $30,709,280 over last = M 8B 8 + y T 6 P s Tnors of Tess pusziing, EUree therein | which was formerly handled by | week. The statement follows: - Eishernoey 35— 3534 2045 — United Alloy St 32 +4 Thus. in the item common stock |one or two men. Loans, discounts. etc.. $4.918.-| 15% 11} —215/106 9 8 United Drus... 8 -2 authorized, no par value, the figures| ‘The proceedings instituted by the| 507.000; decrease, $62,345,000; cash in| 2014 13}¢ show very plainly as follows: 3.000,. |raiiroads befors the Rallroad Labor |OWN vaults of members federal reserve 5{2 2 47 443350 United Drug 1stpr. 46 45} 45% — 1 000,060 shares. One hax to look close- | Board in Chicago are expected to put [ Pank. $80.042,000; increase, $294,000; 207 98!¢ 8 United Fruit. i SodiEisint e period St S| u<oa o reo rudi ke " ™ i SHaGH, I, 2 aghar| T 46 B 06— vaed By Tt ‘ mas. Elsewhere in the report the NEW YORK BOND LIST. gfi'fik.".'fifinli‘t o -“:u""sa.n.';a 6214 54 N s UnitedRy iny pe T the iy Making statements | xpw YORK. March 12.—Olosiog prices 000; decrease, $139.000: reserve jh de- 1325 1206 5874 49% 3 United Retall Strs. 55 4915 513 — 2 no doubt caused confusion U s registered. 001 | positaries, state banks and trust com- 65 12% 17% 1% U S Cast Iron Pipe.. 173 15 15 — 1% i sl ORI coupon w0y, | Panies. $9,042,000; increase, $269,000; 465 39% USCastIrPipepf. 455 45% 45% + 12 ding_ 1.268,186.025. with the | A '"g L R e L 2% 19 U 8 Food Prod 2 19 20 1;2 1 96 g ,025,000; * United’ H - ceeen i - dccimal simiisrly placed, ‘probably oS3t | acposita’ acaucted, $16932000:° ime] B, n}‘ it 72 6% 8 USIndAlcohol.... 00 65 655 — 3% There was 1 enough encour- g 71, | deposits, $234,657.000; decrease, $2.-| K4 344 SEElEL (BAF) ot 513 414 — USRealty 164 4134 4 . agement to the sharehoid iR T oL oLl Coukt Kine Tt i 7811 047,000; circulation, $34,633,000; in-| 85 72 Goodribh (BF) pt.4 2 s s Alg 41— 2% out, the heart failure from. period | Botiore Moo iie ;. 4s.-: o 3180.000; aggregate’ reserve,| 13 )4 — Gray & Davis. 2% 624 8 UBSRubber OBl (64 ©Bdg — g pe 533,81 00; - 1 points that looked like commas. sy | $533 ufiro--e.?:c{flofi?;'::mfi.;'y't( 704 693 7 GreatNorthernpt @ 76— 4 (10836 101 USRubberlstpf.. 102 1013 1018 — % The president said: “The fiscal year £en! 3084 303 — 1) 3% 2976 2 USSmeltRefin. osed 1 71 | state banks and trust companies in 8% Great Northn Ore. Talen fn the Ristory of the company, | Chreepeeke, tad Ouio cr. 2. $7 | gredter” New"York! not ‘nciuded In | 54 18 3 GrewseCananon 18% 185 — 33| 441 A4 34 US Smelt Ret pt.., being mnrn!\hhan four mulion dollars Rt Pant cv. 41is gf‘“r:’l‘;“ :‘;’c‘"e “;;7'%’:;'_'53 U]I:cll:'d"- 165 13% Guaptanamo Sug 1206 13 — 1) 8 7% U S Steel. in excess of the preceding year, not- d i 4 oA > -y 2089,200; al g @ 5 ‘ withstanding the generai “reduction Northwes nE 3. w01 | $4.368.900; gold, $7,171.200; increase,| 26 21 Guif Mob & N pf. 24 24 — 1Y m- 107 U S Steel pt about in the demand for all merchandise in | (hill Goprer col. trust i :f:’:'}'zwao c.m;:.;:{“.ng] Tatboo; e | 38% 4 Guit States Steel. 2015 8014 — 1] 594 464 4 UtahCopper. 1hg TAE quattas G LS g eae Colorado and Southern re! posits “with federal reserve bank,| 603§ 5435 4 Haskell & Barker 5414 5416 — 34| 124 84 — Utah SecCorp. “Net earnings were less than 1ast | Denver and Rio Grande con 53 (1091 New York, $48,964.600; incre 594 61 — 8,4 2 Vanadium Corp. N‘& Houston Oil. I1Bumlall lvagl doveorwaanl 1 1Balelllalewl | Seulan onllolallavwalllll loesl caofovon! ol alwl | year on account of the substantiai| Dominion of Canad: Y e, 3770.- | g0} 50! Tnereased cost of raw material and Ben. x oo A Lo yaEsazace €e u;ii lli‘i Hupp Motor. g 138 — Va-CarolinaChem.. 344 3135 32 —2 Mbde #na Ligheciaslling(and aavec w7 | amounts due from reserve deposi-| 9. 85}5 *7 TiinolsCentral. 85)4 8515 — 2k Va-CarChempt.... 9§ 974 75— 3 “An outstanding feature of the *74% | taries and other banks and tr ™ 5% 2 5% 5%— % ‘Wabash. .. 8 7 - ¥ year was the successful development y, | companies l’n New York city and 8% 8% 8%— Wabash pf A 2014 18 18% — 2% and completion in the company's United States deposits, $567,422,100;| 155 laboratories of substantial improve- 1.700. Banks: Cash in| 373 2034 — Inspiration... 2095 3056 — 3% Wells FargoExp... OBl}§ 60 60 — 2l dends be incressed with the ments to product, the benefit of |1 (ypust companies: | “gis 376 — ynterboroCon.... 44 M+ N Western Maryland. 10 95 95— 4 :.r;u":mw'lll acrue to the company in 3 16 10% — InterboroConptf... I5% 1214 12% — ¥ WesternMd 2apf.c 173 15 15% — 24§ “The unfavorable groas sales tax NEVENTFUL. | 13% 7% — Inter AgriChem e ‘Western Paclfic.... 27§ 233 23% — 4% levied by the United Ih:e- lolvern- ot o 0 !,‘} NEW YORK, March 12—The raw| 57 423§ 5 Inter Agri Chmpt. (-2 ‘Western Pacpt.... 70 67 68 — 1% ment on comparatively few cfi-u- Notthern Pacific 8. 538 | sugar market was quiet today and as|ygy¢ 93% 7 Inter Harvester 033K — 34| 8845 84 Western Union..... 87 864 86} — 4 of industry continues, but & well or-} gregon Khort Line *7844 [ no fresh business was reported prices 13 —1 | 962§ 93 Westinghouse A B. 96} 96 9635 + 1} ganized effort is being made to have | pycific Tel. and Tel. %% | were unchanged at b cents for Cubas, | 17% 12{ — Inter Marine % ng! e 3 § b now nearing completion. Miminietration.’ In 1320 this tax Coot | Lonmtiivania Foa. o %8 cont end Treight, caual to 602 for| G 46} O Inter Marinept. 8 —3| 48 2% ¢ Westinghouse Elec. 48 ° 45 45} — 134 % y - 5 ceved 0 centrifugal. - ¢ =1y 3 é b= your company sbout $2,000.000. B e i 5 siidih) 11 o ott | | The market for refined in firm, with | 38 303 — InterMotorTruck. 334 30 303 — 1% l; 5% Yol & Laxs B :;:, 1?‘ :" li‘ ‘During the year the working eap- | (PRl 1100 GO0 BIE ds. fine granulated unchanged at § cents| 16} 134 — Inter Nickel 133§ — 134 I 1435 ‘Wheel'® L Krie pf.. 1 g 145 — 14 ital of the company was Increased by | Raabord Air Line ad). for hard grades, while two refiners| g435 43§ — Inter Paper. 5236 — 24| 42 353§ ‘White Motor....... 393 38 fhe sale of $6,000,000 five-year S per | Kouthern Bell Telephone 814 | are taking orders on the basis of 1734 — 34| 1756 1234 ‘White Oil. 4% 128 125 cent gold notes and by the receipt of Seutiern g.rmc ev. 3 . -:y, 7.15 for softs. The demand continues | 28 ' 164 — Invincible Oil % i . . 3] 2% s;mo:.noo from the sale of common 2 bk quite I.::fit;ve, "g"' ":‘;."'l refiners | 40 3214 — Iron Products. 4 3B B -3l 38y Wilson & Cp, ; 2 ®/5 38— Y stock. Ll w rawn from . - -_— » - { t “The inventorien of finished oods | Iyice gad Faciec 1e e N o shemarket —| 03¢ '8 — 1amagon. & reins xS i gl % T - X|E Phone Main 68734 and raw material on hand at the | Ua ingdom Aia (1637). . m5i | fairly active for a S8aturday and prices| 11 4 — Jowel Tea. 9 8 — 4 Willys 1§ By V- X% Wi D.C Close of the year were lurger than | United Btates Rabbor S 42| were higher on covering and trade | 281 8} — Jawel Teapt. 0 % 205 — K[134 18 8 Woolworth, mK% - uBg+ % i ‘ashisgtos, D. . usual, due to trade conditions, but | United States Steel Go. 3% | buying, closing at 1 to 4 ) - Tea U B B - ¥ N4 G Wort] L ® 6 BH-2s : {. were ‘revalued at prevailing market | ¥ /ryiste-Caro . g | advance. Final bid: (el TORBR Meow T cy : . ’ prices December 31. 1920. Wileon and Co. ov. : o1 | May, 5.35; July, 5.61, — KanCitySou...,.. 24 (21}§ K 22)§ — 1% * Ex dividend. - (el “Preferred stock of the cOmpany t0 *Bid. {ORered. (% g 1 : ¥ ANCIAL - THE SUNDAY STAR, WASHINGTON, D. ¢, MARCH 13, 1921—PART 1. i FINANCIALL Columbia Building Association 620 F St. N.W. If you invest your savings in the highest grade bonds you must keep them to maturity or sell at market quota- If you invest in Real Estate Mortgages your money is tied up till maturity of the mortgages. If you deposit your Savings with this association you can withdraw your shares any time and receive every dollar of your deposits and 5 interest. ~ UNDER GOVERNMENT SUPERVISION S T lNVESTTéGATE - Washington Ice Manufacturing Co. And You Will Buy Liberally Both the Common and Preferred Shares Now Selling at-$2.50 per unit 4 DIVIDENDS of 8 and 10% Dally output of ICE increasing, and when PLANT No. 2, now being completed, is in full operation the daily output should be. 200 Tons of Ice ’ Only a limited amount of TREASURY Stock of the Washing- ton Ice Manufacturing Company will be sold at $3.50 per unit, comprising one share of Common and one share of Preferred Stock. It is our opinion that the shares will advance and divi- ter output of ice. This meri- torious enterprise is worthy of your heartiest financial support. " Invest $100.00 to $1,000.00 Now Call, write or phone and we will be glad to give you full details and show you the plant in operation, and Plant No. 3 WOLBERG & COMPANY, Inc. Excluasive Fiscal Agents Munsey Trust Co. Stock 10 Shares for Salo. Make Me An Offcr. Address Box ZSA. Star office. The Railroad . ; Situation *; 3 A resume dealing with T the position of the com- mon carriers is presented in the current issue of The Kardos & Burke Review 7 I by Mvest ness men throngh country. Cops will be se free apon . request for N, 143 ‘Kardos & Burke STOCKS AND BOXDS American Building. Baltimore Philadelphia Pittsburgh , Chicago New York Direct Private Wires Over a . Quarter of a Century Without a Loss Wholesome When a security does not fluc- tuate you are meit tempted into buying too much in the vain hope of itx going higher nor frightened into selling f fear of going lower. So y avoid two common sources of loss when you invest in our 7 per cent Kirst Mortgages— always worth par. In amounts of $250 and up. .B.F. SAUL CO. Mortgage Loans 934 N. Y. Ave. N.W. ROKERS and Security Salesmen who have a aware and New York can se- cure exclusive handling of live issue of gold notes, with common stock bonus, on at- tractive terms. Leads furnish- ed. Best of co-operation. In- dustrial dividend-paying or- ganization manufacturing and distributing nationally adver- tised products through sys- tem of chain stores. Direct contract with company. Ad- dress P. O. Box 1556, Phila- delphia, Pa. ; IlfllfllflifllIIIIIIIIIIIIIHMIIMIIMIMHIIIIIIIIIIIIMIHIIII!IIIIIIIIMIIW Suite 354, Munsey Bldg.