Evening Star Newspaper, July 13, 1921, Page 19

. clusive. FINANCI NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Open. High. Low. 1:45. 0% 41 0% RN, DENSWORE " EETEDTOPOST Former Head of Employment Service Vice President of New Company. JOHN B. DEN John B. Densmore, former -director general, United States Employment Service and acting Secretary of Labor. whenever the Secretary was away for five years and a half under the Wilson administration, has just been elected vice president of the newly organized General Finance and Security Company. Inc. Mr. Densmore will enter upon his new duties at once. Robinson White, local artorney, president of the new concern, which has an authtrized capital of 0,000, and the other officers are sucrela‘r) H J. 8. Kemp, assist- Tu vice presid merce of sel. Besides Messrs. White, Mcintyre and Kemp, Densmore, Lloyd. sificers, the directorate tf the company 18 composed of Lawrence Allnutt, vice president, Montgomery National Bank, Rockville, Md, John D. Higdon, Gaitherburg, Md.; Dr. R. A. Bennett, Riverdale, \d.; Dr. Harry L. Lewis, director of the Standard Savings Bank, and L. B. Perkins, assistant corporation counsel of tha Distrist. Temporary offices have been opened 'l':re!e':; Alb:: b:uding. 15th and G . until the company its own home. ARy Secures Accepts Post as Treasurer. Dale S. Venables, who recently re- signed as cashier of tho Standard Savings Bank, has accepted the posi- tion of assistant treasurer of the District Hayne Company. - Personal Mention. aurice D. Rosenberg. president of the Bank of Commerce. is contem- plating a month’s motor trip to the Thousand lIslands. He will be ac- companied by his family. Julius Peyser, president of the Security, Savings and Commercial Bank, will shortly leave for a ten days’ trip to Maine to visit his son. F. S. Addison, jr., vice president of the Security, Savings and Commer- cial Bank. acompanied- by Mrs. Ad- dison, will be a member of the dele- gation to the American Institute of Banking meeting to be held at Min- meapolis next week. Dividend Declared. At the regular meeting of the board of directors of the Washington Loan and Trust Company, July 6, the 116th regular quarterly dividend of 214 per cent was declared on the capital stock of the company, pay- able August 1 The books of the company will be closed for the transfer of stock from July 23 to August 1, both dates in- Local Market. Trading in public utility bonds again featured the activities on_the local stock exchange today. $15,000 worth of Washington Railway and Electric Company general mortgage 6 per cent bonds sold at 92%, while four $1,000 Potomac Electric Com- pany consolidated 5s brought 85. There was also $3,000 worth of Wash- ington Gas Light 5s to change hands at i, and one $500 Capital Traction 5 soid at 87. One hundred and twenty-five shares of Capital Traction stock, in lots of one hundred and twenty-five .£hares, brought 8§6%, while four shares of Washington Gas Light were disposed of at 44. S N S—— BANK FOR COSTA RICA. Bill Is Introduced to Establish a National Depository. SAN JOSE, Costa Rica, July 13.—In- terest coupons from government bonds issued against the forelgn debt of Costa Rica have been exported to the amount of $500,000 to New York for the purpose of estabilshing credits there. The government intends to continue to place negotiable securities in New York for the purpose of main- taining a considerable sum of money there. This step, taken by the financial departiment of tiie government, has been followed by the introduction in the chamber of deputies of a bill pro- viding for the establishment of a na- tional bank. The institution would have a capital of eight million dol Jars. to be jointly heid by the govern ment and private citizens. A R REFINED SUGAR QUIET. +NEW YORK, July 13—The raw sugar market continued steady early today, with sales of 40,000 bags of Porto Ricos, at 4% c. i £, to a local refiner, July shipment, with outport option. Centrifugal Js still quoted nominally 4.37, duty paid in absence of business. Raw sugar futures were easier, owing to the poor, demand for refined, which caused a little local selling, and the market day was 3 to 5 points net lower. The refined sugar market was less active and unchanged at a range of 5.20 to 5.60 for fine granulated, with little business possible at the outside price. » Rleflned futures were dull and nomi~ nal. —_— FOREIGN BONDS. tations furnished by W. B. Hibbs & Co. rices at noon: Berlin 4s........ 13 Greater Berlin 43 1232 Bremen 43s. 15! German gov. 4s.. 18 German gov. be.. 13 Krupp 4s. L 15 Bad._Anilii A;,zc 17 Al El Ges. 4%s 18 Mein'ger Bank 4s Nord. L. Bask 4 18 Tcalian Os. . 3T Ttalinn notes 1925 47: Belgian- Reat. 58. 70 Belzian Prem. 0s 74 Munich 4s. German gov. 3 German gov. 3 Adams Express. .. Am Car & Fdy pf.. 109 Am Cotton Ofl. Am Druggists. Am Snfety Rasor.. Am £hip & Com. Am Smelting pf... Am Smit Sec A Am Steel Fdy pf. Am Sugar Am Sugar pf. Am Svmatra Am Tel & Teleg. Am Tobacco. Am Tobacco (B) Anaconda... Atchison. .. Atchison pf. Atlantic Cst Atlantic Gulf.. Baldwin Loco. ‘Balto & Ohio. Balto & Ohio pf. Bklyn Rapid Trn.. Booth Fisheries. .. Calumet & Ariz. Canadian Pacific. Central Leather... Centrai Leath pt. Cerro de Pasco. Chandler Motor. .. Chi & Alton .1 Ches & Ohlo. 5 Chi Great Westn.. 7% Chi Great W pt.... 11% Chi Mil & StP..... 26% Chi Mil & St Ppf.. 40 Chi RI& Pacific.. 32 Chile Copper. 105 Chino Copper CCC&StLpt Coca-Cola. 2% Colo & Sout! 81 W % % 8% Cons Gasof NY... 8% Cons Textile. » Corn Producta. Corn Products pf. . 100 Cosden & Co. . 27! Cons Intl Cal Min. Crucible Susel. Endicott-Johnson. Endicott-John ptf.. Gen Motors Gfeat Northern pf. 63k Greene-Cananea.. 21% Intl Harvester Intl Mer Marine... 1% Intl Mer Marine pf 8% Intl Motor Truck.. 30 Intl Truck 1stpf.. 68 Intl Nickel. Intl Paper. Invincible Oil. Kansas City Kelly-Spring Tire. a‘!“:: Manhattan Shi Market St Ry prpf. 33% Maryland Oil . W% Mexican Pete 100 Miami Copper. . ... 0% Middle States Ofl.. 11% Midvale Steel Minn & 8t L (0)- N YN H & Hart. 1% Norfolk Southern. 10 North America.... 61 Norfolk & Westrn. 9% Northern Pacific.. 3% Nova Scotia Steeld 2% Nunnally Co...... 9% Oklahoma Prod. Pe ivania. nnsylvi o Penn Seabd Steel. People’s Gas. Pere Marquet! Phila Company. Phillips Petrole! Plerce-Arro' Plerce-Arrow pf. l:t Pitts & W Va pf. Pullman Co.. .. Punta Alegre Sug. 28% PureOil..... 26 Ray Con Copper... 12% Reading....ceesee 68 Rep Iron & Steel.. 48 Motor Truck.. 18% Royal Dutch...... 87 StL & San Fran... % St Louis Southwn. 24% St Louls Sown pf.. 82% Sazon Motors. Seaboard AL Sears Roebuck. Beneca Copper. Shattuck-Arizona. 6% Shell Trad & Tran. SinclairOfl.. w% Bloss-Sheflield..... 36 Southern Pacific.. 76% Southern Rallway. 19% Southern Ry pf. @Y% Standard Ofl of Cal. 7 Stand Ollof N J. Stand Oil N J pf. Stewart-Warner.. 3% Studebaker... .o 8% Submarine - Super{or Ofl.ceecet Texas Compaay. Texas & Pacific, 2% Texas & PC & Oll. 18% 64% United Drug. United Ry Inv. Unlted Retall Strs. U S Food . U 8 Indus Alcoho! 0% 20% 0% = 3 267 124% 109 1% | vesterday to 81%; n% 9% ‘Western Pacific. A% % A% UK Western Union. 88 86% 88 B6% Westhouse E & M.. 4 o °o% e Westhse 1st pf.... 66 66 6 58 ‘White Motor. 33 £ 2 2 B 8% 8% 8% % % 6% 6% 0 0 ‘30 %0 ™ TR 1% Th High. Low. Last. Call Money...... 6 L] 6. HOURLY SALES OF STOCKS. 12M DIVIDENDS DECLARED. Stockof Pay- record. able. Burns Bros., q. $2.30 Rurns Bros. pt. 4. $1. o aug 1 Exchange Bultet, “q, "85....,.July § Jaiy 80 Federal Acceptasice Corp. Df, o 82 z.i: July 1 Jaiy 15 Fort Worth pf. q, July 15 Aug. 1 Gene: 3125 .. “Aug. 16 Sept. 1 Washington Stock Exchange. Washington Raiway general 8a—$1.000 ington Railway general 000 at 02351000 at 925, §1.800 at 02 $1.000 ar at 92 ,000 at 2%, at 92 000 at 92 1,000 at 92 $1,000 at 92 31,000 at 92%, $1,000 at $25, '§1,000 at $1.000 at 928, Washington Gas Light—4 at 44. FTER CALL. Potomac Electric cons. 5s—$1,000 at 85, $1,000 at 85, $1.000 at 85, $1,000 at 85. Capital Trection 5s—$560 at 87. Capital Traction—100_at 863, 25 at 86%. hington 5s—$500 at 761, $1,000 at 6l $150 ac Torg. oney—Call loan, 6a7 per cent. Bid and Asked Prices BONDS PUBLIC OTILITY. . 1k American Tel. and Tel, #’,fi “1:" M 88 8 fl'lh fl . Metropolitan R. . M\ . Potol Electric Light 5i 87 . Electric cors. 5s. 85 Electric Power 6s. 03 Potomac Elec. 5 ‘ashington Gas 68............ ..... hington G Th 108 . liington Rwy. and Ei a1y Wash. Rwy. and Elec. G. M. 6. 923 . MISCELLANEOUS. )’(O“‘hl Realty 5s (short).. ington Market 5s 1927, 5 Washington Market 5a 1047 2 STOCKS PUBLIC UTILITY. American Tel. and Telga Amer. Tel. and Telga. ri % Capltal Traction . e . 70 235 120 4o Washington . TRUST COMPANY. American Security and Trust 220 226 Continental Trus 108 National Savin E 280 TCuion Trust 1813 ... Washington Loa 25 SAVINGS Commerce and Savings 155 East Washington 12% Merchants' .. i . Security Savings and Commercial 205 Seventh Street Savings. 15 Union Savin, uz U. B. Bavin 200 Washington 25 ) FIRE INSURANCE. Arlington . P Corcor us., Firemen's 1915 American 230 National Union % TITLE INSURANCE. Columbia Title . 4 : Heal Estate Titie L3 MISC] Cotumbla Graphopho 5 D. C. Paper Mrg. Co. ™ . Merchants" Transfer and Siorage ..... 130 Mergenthaler Linotype nr Old Dutch Market com. esee Old Dutch Market pfd. 9 nston Monotype Security Btorage Washington Marke! SEx-dividend. —— OIL STOCKS. Quotations furnished by W. B. Hibbe & Co. Bid. Askeo Anglo-American Oil Co. (new).. 16% 17 Atlantic Refining Co. 00 Borne-Scrymser Co. 360 Buckeye Pipe Line C 7T 1 Cheseborough Mauufacturiog Co. 160 170 Continental 0l Co. 12 108 Crescent Pipe Lin 27 28 Cumberland Pipe Ling 1% Eureka Pipe Line &0 83 Galena-Signal 011 Co.eom. 2 U Galena-Sigual 01l Co. pfd.. 85 92 Illinols Pipe Line Co. 10 154 Indiana Pipe Line C - \'lflo;ll. T'::'“ Cn“ oo ,g 24 New York Transportation Northern Pipe Line Co. G Obio 0il Co. 265 249 Pennsylvania- 20 24 Prairie Oil and Gas Co. 405 415 . Prairie Pipe Line Co. 180 183 Solar Refin 5 8o 0 Routhern Pipe Line Co. 80 83 South Penn. Oil Co. 17 1m Bouthwest. Penn. Pipe >3 Standard 01l Co. [ 853 550 880 160 307 380 Co. 85 Union Tank Line Ci 95 Vacoum Oil Co. 60 268 ngton Oil 2% 2 —_——— BONDS RESTRONG RALS ARE LEADERS NEW YORK, July 13.—The bond market again today .ignored at once the higher call money rates and the heaviness in the share list. It was definitely strong,* with higher prices the rule for most of the leading rails, 9%/ and for some of the industrials. Sea- | board Air Line §s rallied a point to 26, and this helped the Southern rail- way issues. Southern railway 5s had »old down they recovered to 82%. St. Louis and San.Francisco adjustments were up a fraction, while ‘West Shore 4s, which have been in demand for some time, had another ump, this time from 71 to 71%. F .fig;g general 4s ran up a point ) 2 Chicago &nd Northwestern 6%s were | N from actively bought 99 up to 99%, and Southern- Pacific collateral 4s gained a half point to 70%. Expectation of the early announce- ment of the Missouri, Kansas and Texas reorganization plan has brought some buying in the first 4 per ocents, which, of course, are not affected by the capital readjustment. These ba;xd- were 59% on Monday and 60% | today. Cuban Cane Sugar convertible 7s rallied sharply, along with the stocks, on intimations of an impending Cuban loan, the proceeds to be used in lift- ing a good part of the unfavorable sygar surplus from the market and carrying it indefinitely. If this were to result in any sort of a recovery in sugar prices it would be the solution of the problem for Cuban Cane. Highker by Fractions. Chile Copper 68 were up a half point to 71%" and Tidewater Oil 6148 were a fraction higher, as were Westing- house 7s. United States Rubber 5s rose from 77% to 78, while the T%s declined 2 similar amount. Other ac- tive issues like Sinclair 71¢sy Steel 58 Kelly Springfield 8s, Goodyear 8s, Du- pont 718 and Duquesne 63 were all unchanged from yesterday. . -- Such slight changes as oceurred in the liberty group were in the direc- tion of hi prices. King- dom of 1937 rose another half point to 85%. There has been some. buying of these bonds by people who held the 1921, notes and have turned them in for redemption. Ot forefgn gov- ernments were only siightly ehanged. _(MARKETISAGAIN DULL, IRREGULAR Investment Shares Are Neg- lected for the More Speculative Issues. BY STUART P. WEST. NEW YORK, July 13.—Todly's stock market was pretty much a repe- tition of that of yesterday. Again the volume of business was small, with professional traderd completely in possession of the fleld. This element was Inclined to work for lower prices and continued their experiments at offering down stocks which seemed to be vulnerable to such operations. Shares of the electric companies were among those attacked, chiefly be- cause they had heretofore been com- paratively exempt. Steel stocks were sold on the re- port of the Lackawanna company for the second quarter of 1921, which was assumed to be fairly typical of the re- sults for most of the steel concerns. The rellway list was under pressure because these are the only stocks which the public has been buying at all, and in which, therefore, a ‘sensi- tive speculative account was indi- cated. The selling movement was not at all heavy, nor was it important. Call money agaln renewed at 6 per cent, but it was well understood that this 'was due to the large government with- drawals at- the close of the week, and was consequently only a temporary ‘Had there been any expectation that the higher rates would last, it would heve shown in the time loan market. As it was, borrowers on time con- tracts continued to refuse 6% per cent offered by lenders and to hold out for 6 per cent. Exchanges Fall Back. The principal foreign exchanges lost part of yesterday’s gain, but there was no renewal of the violent decline of last Saturday and Monday. sl ness was evidently restricted by conflicting acoounts of the recent ép- eration of the German reichsbank, and how far they have gone to ""’."ld' the remainder of the billion d marks due by August 31. The statement that a loan for a 150,000,000 marks had been arran in Holland was, of course, accepted. Lackawanna Steel Report. Lackawanna Steel was the first of the steel companies to report for the second quarter, and the results were quite in line with expectations. Plants have been shut down during the greater part of the period, almost en- tirely. In the first quarter there was a bare profit of $8,735, so that tne outcome of the first half year is a deficit after interest and depreciaiion of $974.392. This cannot be comsider- od a serious draft on surplus, how- ever, nor would it be if continued at the same rate for another six mouths, for Lackawanna is merely drawing now upon a small part of the undis- tributed profits of the war. There was no fresh reason for the weakness in Pierce Arrow shares fo- day, except that by now the full re- suits of the first half 1’8 opera- tions have had time to be known, 2nd undoubtedly the showing is a poor one. Every sinking spell that these stocks have had during the last few months, has brought out unpleasant rumors, but the staiement made a month ago by one of the directors refuting these stories vught to stand. General Electric Too High. In the view of bear traders, Gen- eral Electric has been selling out of line; that is, too high by comparison with other industrials in a similar position. This notion was back of the decline in the stock yesterday and to- day. General Electric pays 8 per cent in cash and 4 per cent in stock, which, figuring the premium represented at the present selling price, is a dis- tribution of nearly 13 per cent. Where General Electric_went today it was below Car and Foundry and practi- cally level with American Tobacco. both of them 12 per cent stocks. The sudden spurt in American To- bacco yesterday and this morning was accounted for by the declaration of a dividend of 4% per cent payable in the stock of Mengel Company, Incor- porated, one of the treasury assets of the tobacco company. This applies to both classes of American Tobacco | ca: stock and is quite outside the regu- lar cash dividend at the rate of 12 per cent. It was given out at the same time that the company now has on hand $10,000.000 cash, has paid off all its bank loans, which amounted to $10.000,000 at the close of last year, and will have reduced notes outstand- ing by August 15 to $13,334,000. —_— CURB STOCKS. Quotations furnished by W. B. Hibbs & Ce. ~13:15 p. Aetna Brploais Allied 0il Arkansas Boone 0l . Boston and’ Montana . rbon Steel . b Syndicats ervice Cities Service (old) . Cities Service pfd. . Columbian Emerald . a0 ] Commonwealth Finane 42y 3 Consolidated Copper 1 1y Continental Motors . . & 51 Cresson Gold . 1% 1% Davis-Daly .. 5 7 Dominten” Oil " 7 9 % 2 (3 8y o 20 8 U Federal Oil .. 1% 1316 Fer d Ol .. 8 [ Gilliland O 2 3 Glen Alden_ Coal 3 Glen Rock Oil . > & Guffey-Gillespfe 81 2 Granada Oil 3”4 Hecla 3% 4 Hercules Paper 3 9 Ty T i 20 Jerome Verde 2 Kay County G % 3 Lake Torpedo 1 Tone Star Gas 16 2 18 20 19y 30 [ 2 3 P 8 8% 3% 4% 18 20 2 3 w, 2 4 4% 4 78" P aa 3% Radio com. 1 2 Radio ptd. % 2 Frin” Copuoticuied 2 % Consol Salt Creek Producing . 22 23 Salt Creek (new) 10 10 Sapulpa_com. . o 8 Simma Petrol ;% s 8 1 1% %3 17ide +. ovesemmeras - opab “Rxtension 1% 1% % 1 1 1 1% 20 27 7 3 % 82 O Leather pfd. ) u* Armour Leather pfd. . Armour pfd. . 863 87 Cudaby Packing 507 50t Libby ... % 7Y National 8% Swite & Co. 89 90" Unfon. Carbide . 421 oy —_——— CANNED FRUIT-CUT 40 P. C. CHICAGO, July 13.—California can- ned fruit prices are about 40 per cent ‘lower than the opening prices of 1920. This was revealed when tI California Packing Carrlcl;]ltlon t ¥ for 1921 canned f ; |browns, ; |tras, 33a36; refrigerator, firsts, 333a % Y {fowls, 20a35. WEDNESDAY, Grain, Produce and Live Stock| iz e ronms e -y ¢ a ,000—7% interest, in s of $1,000 GRAIN AND PROVISIONS. LOCAL WHOLESALE MARKwmY, |SANCE, INSTITUTION ONDER, SUPERYL |80 % o'ory ma:'t':n‘n‘:’x.:.- o BALTIMORE, July 13 (Special)— _"ltxs—smg n‘e’,lffd freah, per doz., 30a31; | OF PROFIT. SHARING = OCERTIFICATES. Joseph 1. Weller £ Was L & Trs Potatoes—New, per bbl, 1.00a3.00: el L ' TERMS IF DI . BEND FOR = = = » '] Live ultry—Roosters, Ib., 17; | CIRCULAR T-801. X, [ SE- bu., 40a1.10; asparagus, doz., 1.20a2.50: tnrk-y-.pop:"r’ 1b., :{:ss?"chlexm GUITiea CoRp. SR R W, » beans, bu,, 75a1.50; beets, bunch, 3ad: |spring, per Ib., 34ad2; hens, per Ib. . EQU[ TABLE cabbage, per head, 4a10; carrots,|28a30; keats, youn, each, 60a75; chick- ‘ bunch, 3ad; celery, doz. 1.00a150: | winter. per Ib., 30. corn, doz., 12a35; cucumbers, : ket, Dressed poultry—Fres chickens, per Iy 80; roosters, JULY 13, 192L b., 40a45; hens, per Ib., FINANCIA $1,100 BUYS $110 INCOME. Money to Loan jh-killed spring 65a85; eggplants, crate, 5.00a let- % rkeys, tuce, ‘bu., 50a1.00; lima -be: by keats, yo-fi'},':hg.’t 76 chick- 25084.00;" onions, per 100, 1bs. 150s |ens. winter, per b, 6a40. .75; peas, u., 3.2523.60; peppers,| Pork—Dressed, small, per Ib., 15. :1;:;:03(. 1.00a1.10; squash, basket.| y,,q geock—cCalves, choice, per Ib. 3 . lambs. choice, per “1on io: wve|[ First Mortgage Notes Tomatoes—Basket, 1.50a2.50; apples, bbl, 2.5026.00; bu. hamper, 150a2.25: | BOFS: 10% blackberries, qt., 14a22; cantaloupes. 1000, e iar Tples, ber, bh v $100 $500 $1,000 crate, 1.00ad.50;" cherries. 1. 10a20: | Golifornia, lemons, per box.. 10.00811.00 Absolutely Safe . at., 14a18; huckleberries, at. | California sranges: por crate,. 6,00 20a25; peaches, crate, 1.5082.50; Bine- | 630 Comametoni® coir Peratcr™ & 008400 Geo. W. Linkins apples, crate, 3.50a6.50. peaches, per crate, 2.25a3.50; blackber- €0, W. Raspberries—Qt., melons, each, 25265. Selling Prices at Noon: water- —No. 2 red winter, spot, 1.44%; No. 3 red winter garlicky, |Crate, 76a135; New York lettuce,” per spot, 1.35% crate, 1.26a2.00; celery, per dog., 1.00a ot O July ‘wheat, 1.3¢ bid ‘per bu.; Au-|1:50; Romaine lettuce, 1.00al.60: cym- of the g no bid. ' biings, per crate, 1382160 epinach. g 4o g 3 a s Bok lots of new wheat, as to | Per barrel, 3.00a4.00: kale, per barrel, |Standard Savings Bank. quality and condition. at 105 1.12,]1:00a1.50; peppers, per crate, 2.0082.50; ! 4t Washington, in the Districy of Columbia, at 117, 1.20 and 1.22 per bu 5 peas, nearby, per barrel, 6.00a12.00 the close of Lusiness June 30, 1921 Cargoes on grade—No. 2 red win- |onions, ; cabbage, per crate, i L ter, garlicky, 1.3415; No. 3 red win- .00; cucumbers, 1.50a2.50; egg- REBOURCES. ter, ‘Barlicky: 1285 . CNo. 4, "rea |piant, per crate, 3.00a3.50; tomatoes, por | 1. & Loans and disconn winter, garllcky, 124%; No. 5 red|oX, 1.50a4.50; asparagus, per doz, 1.00a including redis. winter, garlicky, 1.20%. .00; corn,” 2.00a3.00; béans, 17.00a10.00 hown in b and o) $300.478.62 Corn—Cob, ‘mew, vellow, 3.75a3.80 |Per bbL beidi per bbl.: for white. 15 to 20 per bbl R ‘Total loans .. lower in carload lots; contract _corn, spot, 76; track corn, yellow, No. 2 or_better. domestic, 79. ts—No. 2 white, 49; No. 3, 48%. Rye—Bag lots of nearby rye, as to ries, per quart, 20a30; raspberries. per 26a45; cantaloupes, 4.00a5.00. quart, Vegetables—Potatoes, per barrel, £.5004.00; lettuce, nearby, per OTHER TYPES OF COTTON | : SUGGESTED FOR U. S. AID 1719 K St. “Thiry-five Years of Safety” new, No. Overdrafts. unsecured . U. 8. government owned: c Unpledged . 2,200.00 Co-Operative Building Association Organizea 1879 41st YEAR COMPLETED Systematic Saving Leads to Great Accomplishments —Save an Jou ears, and you will begia l'v‘n'" n;( - cial - and be pared for emergepcies that ma arise later. i Subscriptions for the . 81st Issue of Stock Being Reécelved Shares, $2.50 per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. NW. JORN JOY EDSON, President FRANK P. REESIDE, Sec’y. quality, 1.0021.20 per bushel; No. 2 Total U. §. government securi- :en;rn exwl;k fpot. 1.44 per bushel; P n: s -e 2,200.00 0. 3, no quotations. “ iy . iy S agtaLone. i, Federal Director Would Extend ;.4 m n:h“ Straw—No. 1, weak; No. 1 stralght |- War Finance Corporation’s New mium on same .. $18.206,67 rye, nominal; No. 1 tangled rye, 17.00; S No. 2 tangled rye, 16.00; No. 1 wheat, Export Policy. Total bonds, securities, etc.. 15.00a15.50; No. 2 wheat, 13.00a13.50; Otber than T. 8. © ls.298.67 No. 1 oat, nominal, 15.50816.50. Extension of the War Finance Cor- [ | meles CHICAGO, July 13.—Wheat ascend- | POration’s new policy in financing ex-| ¢ T ed today to'the highest price touchea |Borts adopted in connectlon with the yet this season by the December de-|Staple Cotton Co-operative Association T eeass.2 livery. Continued excess of heat and o{h emphll'lo twl.mer ’t’};x;esnof m&n and| 11 Checks and other cash ftems... 18138 dearth of rali hiefl - | other organizations ested yes-| 2. O ¥ Pl :“E;‘: e ftg.l’;’lhl; ¢ | terday by Managing Director Meyer in | 14- Other assets: Profit and loss. 7.470.84 SUPPLY OF MORTGAGES holders failed to bring about any |8 formal statement. Total ... .874.05 2 lasting downturns. Opening quota- | _The corporation recently advanced We always have on hand a tions, which ranged from % to 2 |3$5.000,000 to the associationsto assist in LIABILITIES. large supply of First Mort- higher, with September at 1.25 to|financing exports of staple cotton|13. Capital atock paid in -$200,000.00 I? 1 d these 1.26 and December 1.28 to 1.29, were |through the organization for either |18 Burplus fund ... i oo 40,000.00 )| gages for. sale, and these, to- followed by a moderate sag, but then | prompt shipments or future shipments| !’ § FrlvIGed profeal. 3 i gether with new mortgages, by a rise higher than before. ing September at 62% to 63, the mar- ket scored moderate gains all around. Oats took the same course as other cereais, starting % to % higher. Se tember 39% to 40, and then hard- ened still more. Despite weakn of hog values, provisions averaged a little higher with grain. Potatoes—Stronger; receipts. 18 irginia eastern shore, 4.75a5.00 Norfolk, 4.00a4.25 bbl.; Caro- lina. 3.76a4.00 bbl: Missouri early Ohlos 2.00a2.15 c.w. A sharp additional wheat advance took place later owing to reports of rapid development of black rust in the northwest and because of un- abated drought in Europe. The close was nervous. 3% to 4% net higher. with September 1.28% to 1.28%, and December 1.30% to 1.31. Posting of 170,000 bushels of corn here as out of condition tended later to uphold the corn market. Prices closed steady. 3% to ¥% higher, with September 63%al% to €3%. WHEAT— Open. High. Low. Olose L2 LIl 124% 1285 13 1a 127 1304 a5 e 6314 i a kit 39% 0 a2 4k et e July 13.—Lard— 5a12. 30.0031.00. R28, KT A1%, 3 A3% YORK. west. 11. No. NEW Firm: middle Hay—Steady: Other articles unchanged. —_—— DAIRY MARKETS. BALTIMORE, Md.. July 13 (Special). —Chickens—Alive: springers, per Ib.. 35a white Leghorns, 32a36; old hens, old roosters, 18; ducks, 22a26: spring ducks, 28a32; pigeons, pair, 35a40. Eggs—Loss of native and nearby firsts, 30; southern, 28. Butter—Creamery, fancy. 1b, 3%9a40; prints, 40a42; nearby creamery, 36a37; ladles 27a2 rolls, 25a27 prints, 25a27; process butter, 29a30. CHICAGO, July 13.—Butter—higher; creamery, extras, 391 ; standards, 38; firsts, 34a381:; seconds. 30a35. Eg! U ; receipts, 9,265 ses. Poultry—Alive, unchanged. NEW YORK. July 13.—Butter—Firm; 43; 29, extras (92 firsts (88 to 91 score), ing stock, current make, No. 2, 26a 26%. fresh gathered. crate! fresh gathered, extra firsts, 36a37; do., firsts, 32a85; state, Penn- sylvania and nearby western hennery, 'whites, firsts to extras. 42a52; do.. extras, 41a43; do., gathered browns and mixed colors, firsts to ex- extra firsts, Cheese—Firm; receipts, 3,743 box- e1; state whole milk, flats, fresh, spe- |cials. 181£a19: do., average run, 17%:a {318: state whole milk. twins, specials, [18%a18%: do, average run, 17%a18. ! Poultry, live—Firm: broilers, 32a fowls, 30; dressed poultry steady; —_— COTTON MARKETS. NEW YORK. July 13.—Yesterday's reactions were followed by sharp rallies in the cotton market at the opening this morning. Liverpool showed renewed firmness and report- ed a continued active spot demand, with investment buying of futures. The local market opened firm at an advance of 13 to 18 points in con- sequence. Futures opened firm: July, 12.25 bid; October. 13.05; December, 13.43; January, 13.43; March unquoted. LIVERPOOL, July 13.—Spot cotton in good demand; prices easier. Good middling, 9.07; fully middling, 8.67; middling, 8.17 7 low middling, dinary, 6.12; ordinary, 3 !g:lgg. o;l)‘orilm yhlles, including ,500 American; receipts, 2,000 bales, no American. tures closed firm; July, 8.52; Qc- tol?e‘:’,“fl'.'l ; December, 8.90; January, 8.92. NEW O July 13.—Con- tinued favorable spot accounts and a better Liverpool than due caused a rise of 20 to 22 points in the price of cotton here during the first hour of business today. October rose to Sales of 10,000 bales on the ot | ket and tele- spot in the English 1;:.;. ket aat there 8.89; March, 8.92; May, utures_opened steady; Ocyt‘olt»l'. 12.52; December, uary, 12.89, and March, 13.00. ———————— HICAGO LIVE STOCK MARKET. TICAGO, July 13 (United States ‘bureau of markets)—Cattle—Receipts, 10,000 head; better grade steers and yearlings, steady: others dull. top yearlings, 40; best heavy lte;;s early, 8.90; 8. bulls b bulk bolognas, butcher bulls, mostly 6.00as. 1 calves, stockers and feeders steady: bulk vealers, 10.76a11.50. ‘Hogs—Receipts, 21,000 head; better grades light and mediums active, steady to 10 lower; others slow, 10 to 25 lower than yesterday's average: packing grades off most; top, 10.05: bulkc better grade: .35a10.007 bulk packing sows, 8.2028.60; pig: to strong; bulk desirable, 9. Sheep—Rieceipts, 19,000 head: lambs opened 25 lower; packer top natives, 10.00; no westerns sold early: best bid, 11.00; sheep firm: choice light vearling wethers, 850; feeder lambs steady; best, 7.00. LONDON WOOL SALES. LONDON, July 13.—At the wool auction sales 12,396 bales were offer- ed, comprising a superior selection. There was a larger attendance to- day and sales were fair. Merinos skawed improvement over vesterday's ices, while ¢ross-breds ruled in the Ay et and upon prompt or deferred payments. “If a similar plan could be carried out in connection with cotton,” Mr. Meyer said, “it would be helpful in relieving the sii iy financed, it would insure the orderly marketing of the crops and make it un- necessary for the producers to dump on the market unduly large quantities of distressed cotton within a short period. | 3- But it would do more. to stabilize the market so that the con- sumers of cotton woul Justified ready to assist other organizations as well as cotton exporters stitutions, in_the same sisted the Staple Cotton Co-operative Association, provided that advances can business basis be made upon a sound and, provided al may be definitel. vances will be repaid from the proceeds of export sales within a year. —_— RAIL EARNINGS NEW YORK. July in replenishing their stocks, which, in most cases, are much lower than usual at this season of the year. “The War Finance Corporation stands penses, interest and 14.767.34 other types of | 20. tuation. Proper- i 78 deposits subject to which are being made, and ma- turing mortgages taken over from investors who wish them cashed, make it possible to furnish at any time a con- tinuous investment: without loss of interest to the investor. Full information of each prop- ck ... 235.829.48 1 y ! It would help | 24, cortipater ot deporit due n erty is fufnished with each iess than 30 davs (other than mortgage. d perhaps feel for money borrowed) ........ 12.737.04 7 "\'JIA|n fler:lnd posits. items, = 22,28, 24. 25, n amoun 25 1p. z.a v In amounts of $250 and up. Time deposits (payable after 30 i daye. or subect to 30 days’ or and banking in more notice) : : it has as.] 29 Certificates of deposit (other way it A% ‘than for money borrowed).... 16.268.96 B. F. SAUL CO. 82, Other time deposits aeee. 122,608.12 Total of time ds posita, items. 29, 30, 31 and: $188,875.08 35, Bills payable, including certis- cates of deposit representing money borrowed Total . Digtrict gt Coly 1. A. §. GARD FALL OFF. and belief. 13.—Gross in- Subscril come of the New York Central Rail- | dax of July, 1921. road Company for 192 $65.109.739. according to the detai port issued yesterday. Net corporate income of $13.734,688 | Ernest a decrelzsse of $6.182,563. showed surplus of $1.25 closed a shrinkage of The company’'s balance sheet re- ported current assets $158.500,000, including cial deposits of sligh $43,000,000. This is la current_liabilitie: loans and bills p about $33,400.000. —_— MONEY AND EX NEW YORK, July 1 cantile paper, 6%a6% dairy | tegular: sterling sixty-day bills and commercial sixty-day a decrease of $6,198.766, among which are ble, amounting to 0 amounted to led annual re- | jiado A %‘ A;'m\. J“ (‘;fllnflh for the vear dis- | IVt o O Drvoks. . yeu 3. Rosier Bi A3, Driseoll. Leadi Exch $6.182.807. 1’ 8. D. Saul Directors. ing Lxchanges approximating cash and spe- tly more than y REPORT OF THE CONDITION rgely offset by R g CRANGH: RESOURCES. 3.—Prime mer- : . 1. # Loans and discounts, ; exchange ir- including redis counts (except those bills on banks, shown in b and c)..$237.392.63 3:80%: commerclal _sixtyday bills S 360%: demand, 3.64%; cables. 3. b S Francs, demand., 7.87; cables, 7 $Y. 8 ewenment Securities Belglan francs, demand, 1.64: cabies, 2 $71.450.21 7.65. Guilders, demand, 31.90: cables. : ¥k oaees 31.96. Lire, domand, 4.67; cabies, 4.68. marks, demand. 1.34; cables. 1.35. Greece, demand, 5.43; Sweden, de- 1.063.67 mand, 21.18; Norway, Argentine. demand, 29.50; Brazilian, demand, 10.75. Montreal, 12 5-16 per cent discount. Government bonds irregular. ixty days, nine- ty days, six months,.6 per cent. Railroad bonds firm ‘Time loans stea demand, 13.60; Bo other than . uding premium ~on same —has returned to premiums, panies. sentatives. E. D. Sampson, 1125 Woodward hicage Denver Government Life Insurance Company holders more money than it has received from them a record unique among Life Insurance com- It offers a thorough Edu- cational Course to its Repre- EH. Rm 416 Woodward Bidg. l’v'vh and H Streets French Republic 1. Checks and 2 Cash in vaul 3. Other assets ..... other ca 1t its policy- in i ‘abie within 30 da Dividends unpaid (1913-1914). or. vs' or ‘more Certificates of motice): deposit than for money borrowed). Other time deposits .. Total of time deposits, ftems 29, 30. 31 and 32.. §254.987.05 Gen. Agt. TU. 8. government se- ‘curities borrowed. . Bl ble, includ! cer- BT T than $75.000.00 & Sons those including re- cd C. 5 ington. 3 president of the above. named bank. do solemnly swear that the above statement s true to the best of my knowledge A. 8, GARDINER, President. ibed and ‘sworn to before me this 1ith (Seal) WM. J. MIDDLETON Notury Public Departmental Bank At Washington, in the District of Columbia, at the close of business June 30, 1921. 392,63 % 34 bis, City of Washington. es. I1C108. ‘cashier of the above- Mortgage Loans 934 N. Y. Ave. N.W. i A.A.Housman&Co. | 20 Broad Street, New York Members of All Orders executed on a strictly commission basis, in stocks, bonds, cotton, grain, sugar. coffee, cotton- seed oil and provisions. Orders also accepted on give-up basis to any mem- ber of an exchange of which we are members. Washington Office Main Floor Corrdor Telephone Main 2040 CHARLES R. ALLEY, Mgr. First Mortgage Notes Now on Hand In Amounts c. $250 Up to $5,000 We look after ail details and furnish gusranteed titles with all notes. The guly, abwiutely safe form of invest- meat Chas. D. Sager 923 15th St V. Loan Dept., M. 36. $1,000 Liberty Bond :I 4%s CV 4s 'r;tz N “‘?, HOULD you lose your bond would you e a record no San iladelvhia || named pask, do solemnly swear that the above that 1t could be advertised 200, statement is true to the best of my knowledge and identified? of the and bellef. 3. T. EXNICIOS, Cashier. A handy, vest-pocket size day<of July, 1921 (Seal.) Correct—Attest: pEOPLE who adhere to a policy of “gafety first” are often criticised for their lack of sportsmanship. The man who realizes the value of money does mot go in for \chance proposi- tions; Instead he looks for safe, well investments. secured it ‘The First Mortgage Loans we offer are in the latter class. They are y improved real estate in * the Il)l.:ll“ ::h ICcII-nHI. nebpro erty is thoro ly investigated by ex- perienced judges-of real estate values, and the loan is rarely in excess of one-half of a conservative total val- uation. This means that for every dol- lar you invest in our First Mortgage Loans there is two dollars in security, back of it—can any investment offer mbmu security? They pay 7% in- They are in convenient demomina- tions. ; eos H.L.RUST"** 912-15TST.N.W. ‘Subscribed and sworn 1o before me this 1ith GEORGE_P. LEMM. Notary Public. leather-bound record book in waiting for you, free. It han in whick to enter de- Louis Ottenberg, H. A. Filer, . E, Potter, 3 W. Witten, yo wt transactions. gives David D, Catéwell, Troite A." Rosafy, faterest tables mnd i ;lo, 8. -BHE". h, = ‘l"rl K .Bnunh o, yields, ete. s‘n;;" e 1T Exnien Write mow ‘for Booklet No. 133 R. J. mh-. J. H. Ginde: W. 3 Directors. Rose & Company 50 Broad St. New York City You Never Charge Off Depreciation on an Investment in First Mortgages They Mean Absolute Safety, earn % and require mo attention Shannon & Luchs 713 14th Street Main 2248