Evening Star Newspaper, September 1, 1921, Page 25

YORK STOCK EXCHANGE . " GOOD RETURNS ON | NEYLY.ORK ST | LOGAL SECURITIES Railway Officials Call Atten- . tion to Yield on Issues. i Reserve Board Comment. BY L A. FLEMING. Quarterly dividend checks on the preferred shares of the Washington Rallway and Electric Company Wwere mailed to shareholders last night, In- closed with the checks was a prepared atement showing the various bond 1ssues of the Washington Railway and Electric Company and also those of the Potomac Electric Power Com- pany, giving date of maturity, price at this time and the yield. if held to ma- turity. Included in the list were the preferred shares of the former cor- poration, a cumulative dividend payer, selling at 56 and producing a return ©of 8.93 per cent. B The yield on the bonds at the cur- rent price indicates that there are just as good opportunities for profitable investments on the local list as there are on the New York exchange. In the list are maturities of 1923 and 1925, in the event of a short-term in- ‘vestment being desired. The list follows: Potomac first 5s, yield, 6.60 per cent. Potomac con. 5s, due, July 1, '36; yield, 6.60 per cent. shington Ry. 4s, due, December 1. °51; yield, 7.10 per cent. Met. R. R. Co. 5s, due February 1, vield, 7.30 per cent. & P. River 5s, due, April 1, 4 yield, 7.60 per cent. Potomac Co. 6s, due, July 1, '23; yield, 8.25 per cent. City and Sub. Ry. 58, due, August 1, "48; yield, 8.25 per cent. Potomac deb. 6s, due, January 2, '2 yield, 8.25 per cent. Ry. & Elec. Co. 6s, due December 1, 23; yield, 9.40 per cent. Forms for “Call” Ready. Bankers have received the forms for the responses to the “call” of the controller of the currency, Wwhich 1hey believe will come, within a few days, for reports of conditions at the close of business, probably August 31. It is a matter of pure guesswork as to the selection of the date, but the last previous call was for conditions at close of business, June 30. hence the belief that it will be for the last day in August. Junior officials welcomed a further reduction in the number of schedules to be prepared and an entire absence of new interrogatories. Tt will take the final figures to show whether there has been an increase during_the interim between calls, in bank deposits, or not. 2 Bank deposits have held up re- markably well, but some of the larger institutions have recently sus- tained losses, that may be credited to investments made, and in some instances to vacations, while the sav- ings banks will probably show a more or less steady increase. Reserve Board’s Views. The Federal Reserve Board has issued 129; due June 1, & forty-two page pamphlet report- of | Gen Cigar. conditions throughout the country that is of considerable importance, coming from the source it does, one familiar with banking and business conditions in every section of the land. “The manufacturing outlook is de- cidedly spotty, due to the fact that there has been greater progress in some lines than in others. The decline in irop and steel continues, although some increase in orders is noted since the end of July. “Textiles and leather lines show in- dication of great activity, many mills being booked up. further ahead than at any time for months past Seasonable dullness in textiles has caused some dropping off in orders, but future orders are reported very promising. “Little impovement is noted in_ma- chine and engineering industwies. Price movements, on the whole, have been limited. but with a slight upward ten- dency; in some groups. Federal Re- serve Board index figures show an in- crease of 2-points, to 141. The index of the bureau of labor statistics was the same as in June. B “Postponement of reduction in re- tail activity is due to the fact that a curtailment of consumption usual- 1y takes place when accumulated pur- chasing power is reduced. “During the past year the mainte- nance of retail trade activity has been notewortiiy, and only during the past few weeks has a_reduction parallel- ing the previous falling off in manu- facturing been observed. A closer adjustment of retail to wholesale prices has been observed. “Large figures of unemployment have been reported to Congress, but it should be remembered that these figures are based on comparisons with the peak periods ,of employment of 1920. The month of August shows but little change in this feature from y. Reviewing the situation, the reserve toard has this so say: “Slight _improvement in some branches of forelgn trade, fairly good agricultural yielis and ealgrgement of mahufacturirg ,demand heem to point to a more ‘favorable’ autumn season, but the situation s mot such as to forecast any extensive or im- mediate revival cf business in a large sense.” Local Bonds Active. There was large trading, relatively, in the market for bonds today, indlcat- ing the reinvestment of dividend funds. Railway 4s were active to the extent of $7.000, selling at 61% early and reacting to 61%. Potomac first 53 were steady at 89% and Washington Gas 5s sold T7%. A sale of the common shares of the Washington Railway Company was made at 25. = Washington Gas reacted from 45% to 45%. Mergenthaler was quoted at Thirty-Two Years Ago. Just thirty-two years ago Harry H. McKee. George -O. Walson and John M. Riordan opened the National Capi- tal Bank, on Pennsylvania avenue Just east of the Capitol. Mr. McKee has been with the insti- tution ever since, being its president today. the banking business, being at the head of the Liberty National Bank, and John M. Riordan is the cashier and practical manager of the Bank of Commerce and Savings. stand igh In local financial circles and have ade their mark in the banking his- tory of the city. All are comparative- 1y young men and all will recall with sincere pride that this is the anniver- Expert Comment. The National City Bank circular says: “It is not difficult to see what is the matter with industry in the United States and over the world. The situation is practically the same severywhere. The demoralization and poverty of Europe, resulting from the war, is, of course, a factor in it, but the chief cause even in Europe is not the losses of the war, but the unbal- anced state of industry as between the producers of primary products on the one hand and the products of man- ufactured products and the groups en- gaged in trading and transportation on the other “hand. South America and Asia export primary products, and the prices are so low that their ex- ports do not balance iheir imports, and exchange rates are so heavily against their currencies that their purchases are restricted, both here and in Eu- rope. Within this country we haye similar conditions. Trade cannot be- come normal until the situation changes. +“It is a rather familiar comment, and not a profound one, that there must be something wrong with the existing order of society. Evidently there is. Brieflly stated, in a society that is essentially’ co-operative people are refusing to co-operate. We have developed a highly specialized, Inter- depegdent, but voluntary system of indut 8o . complicated that many peopl ) not understand the relations bet: the numerous groups who Jnust work harmoniously together to George O. Walson is still in | Remington Type.. Opea. . Olose. Adams Bxpress.. s Tk 5 4 1% 1% M TR P nN W% 2% A Agr Ch " B & e oK m Agr Chem pf.. uy & Am Bosch. :a . Am Car & Fdy. Am Chicle Co. Am Cotton Oil. Am Smelting Am Smelting pf. Am Smit Sec A §u-3=iFRcusnane,gqy5=fan Am Tel & Teleg. Am Tobacco. Am Tobacco ( 120% Am Wholesale pf.. 9 [ Am Woolen. ...... &% Am Zinc & Lead. 6% 2% 1% % 1% % % M% 81 8 8 Atlanta Bir & Atl. ™% % W Atlantic Cst Lin 8% % 8 Atlantic Gulf. u% BH BY Atlantic Gulf pf... 21 21 21 21 tlantic Ref pf....107 107 1! Baldwin Loco. ™Y 6% UK T Balto & Ohlo...... 37k 3% 36% 36% Balto & Ohio pf. 60% 60% 60% Barnsdall (B) . 16% 16% Beth Steel (B) % 9% Butte Copper 4 4 Butterick. ., % 1 Caddo Oil Y LF California . M 3N California Petepf. 73 7 78 7 Canadian Pacific.. 111% 1% 111 111% Case (J 1) pf.. n.o@m n n Central Leather... 26% 21% 26% 26% Cerrode Pasco.... 2% 2% X% 2% Chandler Motor... 43% . 8% &% & Chi & Alton pt 1 10 10 10 Ches & Ohio. .64 B4, B3% 54 Chi Mil & St Paul.. 25% 2% % 25 Chi Mil & St P pf.. 8 % & Chi & Northwn. ... @ 6 & Chi & Northwn pf. 101 101 101 ChiRI&Pacific.. 82 8% B1% 32 ChiRI&P7%Df.. 6% 6% 16 16 Chino Copper- n% 2 B» CCC & St Louis 8% 8 35 Coca-Cola.... U% % UK Colo & Southern 36 3% 36 Columbia Gas. . 53% B34 634 Columbia Graph 3% 3% 34 Columbia Grphpf. 4 M 1 1 ConsGasof NY... 86 8% % ConsIntlCalMin. 3% 3% 3% Cont Can. . 36% 6% €orn Products @B 6 6 Cosden & Co...... % % U Crucible Steel. .... 5% 66 545% Cuban-Am Sugar.. 12% 1% 12% Cuba Cane Sugar.. 8 B % Cuba Cane Su pt... 18 2!( 18% Davidson Chem... 26 : E] Del Lack & Wstn.. %% 8 Dome Mines. S 1% W% bid Endicott-Johnson. 5% 0% 0% - 18% 18% B f. . 1% 1% 8% Famous Players. .. 66 56% 5% Famous Players pt 80% 8l% Fisk Rubber. . 9% 9% Freeport Texas... 104 10% Gen Asphalt. “, un . 88! Gen Electric. - 128 Gen Motors. ...... 10% Gen Mot 7% deb... 7% Goodrich pf. ... .. Great Northern pf. 1% Greene-Cananes. . 1llinois Central. Inspiration. .. Interboro Metro. i 2% Interboro Metpf.i 7 Intl Agrl Chem pf. 84 Intl Harvester. E3 Intl Mer Marine pf 2% Intl Motor Truck.. 80 Intl Truck 1st pf.. 67 Intl Nickel. ... Intl Paper. Invincible Oil. Jones Tea. Kansas City Sou. . Kelly-Spring Tire. 38 come down first, or that anybody shall come down. They will have to settle it among themselves. “Meanwhile, however, millions of men are idle and millions of wages are being lost. It is a pity the agony must be so long-drawn out, a pity the inevitable adjustments cannot be quickly made, with ‘intelligent com- prehension and & co-operative spirit. A machine cannot be started uniess all its parts are in right relation to each other; a factory cannot be oper- erchant ings S5 Union vings U% Washington Kennecott. . . 4 %00 No. 2 oat, no quo- | NEW YORK, September 1.—Butter— e e A ferred, payable October 1. £50a15-90 Easy; receipts, 13,858 tubs. Creamery, Lee Tire & Rubber 2% Firemen’ o Illinois Bell Telephone Company, higher than extra, 41a41%; creamery, Lehigh Valley. 50% nica :|quarterly, $2. payable September 30. (yICAGO, September 1.—Falr com-|extras (92 score), 40a40% creamery Ligeett & Myers. . 154% This dividend applies to both the old | \\icior“ pouse buying developed at|firsts (88 to 91 score). 36a39%; pack- ugget:&my":fi = ‘olumbia Title 5 |and newly issued stocks. the opening of the board of trade to-ling stock, current make No. 2, 28. “:. S yer: - s oo Almzfl;.m Tobll:co Cmn?any-tl Quar- jgay and wheat stun:d -t:vll);lgz #, Exgl—,)i:re‘ullr; receipts, 20,193 | Loe LLAN . terly, per cent. on preferred, pay- th September at 1. cases. esh gathered, extra firsts, Columbla Gray cam 2 able October 1. i“z‘l‘;:r'n‘gzmberpn 1.23 to 1.23% and|38a41; fresh gathered firsts, 34a3 e 2 1] Wabasco Cotton Mills, quarterly. $1: | \fay st 1.26 to 1.26%. state, Pennsylvania and nearby west- Mrerchants Transter and 5 * | payable October 3. ot trade construed a private|ern hennery whites, firsts to extras, Marland Oil. MM MM rgenthaler Linotype 120% |~ Chicago, St. Paul, Minneapolis and| onthly grain report as bullish and |47a59; do., browns, extras, 46a48; do., Martin-Parry. 4 4 16 M |0 Dutch Market 6" |Omaha Railway Company, semi-an-|pought freely, making somewhat of|gathered -browns and_mixed colors, Mexican Pete. . 100% 105 100% 104% | Old Dutch Market pfd ,,: nual, 3% per cent on preferred and 2% | gn upturn. An hour after the market | firsts to extras, 35a45; refrigerator Midldle States 1% 1% 1% 1% | Lanstos Monotype - 76 |per ‘cent on common, both payableé [opened wheat was up % to 1% abovejspecial marks, 36a37; do., firsts, 33%a Midvale Steel. 28 B i3 2 | Wessington Mar ‘3" |September 20. These are the same|the opening. ¢ e *tE: 5 Minn &StL(n)... 10% 10% 10 10 rates as were paid on both issues last| Corn also showed firmness a Cheese—Dull; receipts, 1.217 boxes. Mo Pacific. .. 1% 18% 18% S February. It has been decided to de- | start, opening prices belng b B | e he s rre: oeal ghecine Mo Pacific pf. - 6% 36% 36 L er action on bo e preferred and {to 1 higher, Wi . ; do., L N:tl Condllx:l . N 1 1“ ‘K t] F:n::fauw“o-'?"mm & Co, | COMmonN stocks for the first half of ne.?fimer at 53% to 54 and May at|state, whole milk twins, special, 2la NatlEnameling... 8 33 88 g | oo o Gy the vear uatil the regular meeting of {57%. Both September and D;c:m:er 21%; do., average run, 20a20%. Natl Lead. ... " B W B m“:“"'.‘ oo the directors in September pending{advanced slightly :fter fl‘gu.i'el p“ n ‘;s.; CHICAGO LIVE STOCK MARKET. NatlRysof M2d.. 4% 4% 4% 4% | Greater Beriin 4 e e e timotr. CHICAGO, September 1. (U. §. bureau N e bl ¥ = ates followed corn, opening a frac- lof markets.)——Cattle—Receipts, 11,000 2 o e © AL E tion to % above yesterday's finish 'J‘.‘l Dead. chaice r:;}a:n}.' :.‘:1}.?" otllae’r‘l_ -I;)- = Dresden 4 Megar Bak de 2% OURE, 9x making a gain of % to i over AN imwelght stears, 10.35; buik, 6.75a | % Duesseldo Viensa 48 2} | (Quotations turaisked by W B. Bithe &.0s. [ spening Dri Lo O as 33% to 34, De. |9.15; ahe stock, bulls, stockers and feed- NorticAmerica pf-Jat French ds 32X | Actna Explosives - 1Yy, 3 378a3.60; bologna bulls, 4.75a5.75; veal Northern Pacific. . 7% French 5 86 | Allied Ol1 5 Provisions were dull, with Septem- | 2705700 boogrs BEL e, 41050157 vea Oklahoma Prod... 1% Hamburg French Prem, 8. 1% 2% .Y [ber lard a fractional premium over|Jguls gher; , 12508 Orpheum Circuit.. 1% ritish_vie. 4s. 18 20 |October. Hogs—Receipts, 19,000 head; fairly Pas Development. 104 2 e O | o ® | wmmar— pen Higny lom. [EN|active; steady to 15 higher than yes- Pacidoon. oo % % |7 Halan metcs'if5 Jo% > Dlcemper 1" 1z 1BK LI | e e o monts buik of Pac Tel & Te T @ @ @ « |German gov. 3. 1134 Belgian Rest. bs. 72 it my omuoB% B sales, 6.85a9.4 op, 9 heavy Pan-Am Pete . 40 =3 -8529. weigl .0029.60; lig] = P 90 35% 33% 3% B Pennsylvania..... 3% 8% 8% 8 FOREIGN EXCHANGE. Pon - B U RE B¥|lshte 8:5029:35; heavy packing sows, G 56 b packing sows, e e ie... W% % % e | Selling checks—Doliar vaves at noon todsy: D18 T e rough, 6.50a6.85; oigs, 7.7588.75; bulk, Phillips Petroleum 21 21 2L 21| pone® - 3.74% Budapest . 2% " 6 desirable, 8.00a5.50. Senisiiiniad e e e 788" Prague 134 o ey COTTON MARKETS. Sheep—Recelpts, 23,000 head: steady: Plerce-Arrow..... 11% 11% 104 11 118 Copenhagen ...17.98 3% 38| NEW YORK. September 1—¥es-|iF BAUVe IAmER, S SO0 | Pierce-Arrow pf.. 21 71 24 2 |Rom ($30 chrigtiania e gz 1% | terday’s scusationsl renction Wl fol: |iambs; early, 5.00; some held highe: 3 m L4 . a m 2/ e Pressed Steel Car. 62 62 25 52 “13% Montreal 0% 2 3 |ton futures early today. Liverpoo : lambs, 7.00. Pullman Co. 8% W% 9% B 4 By B ) was better than due and reported Punta Alegre .28 28 2 22 e v 10 257 [spot sales of 20,00 bales, the largest PureOil. ...... Doy mu mu k| OIL STOCKS. 1% 32 |so far since Dusticss ',',‘,:’,i,‘:':;:,.:fl Railway StISpr... 77% 78% 77% 78% | Quotations furnished by W. B. Hibbs & Co. % 1316 L:&;ero; “at'a decline of 2 points on Ray Con Copper... I% 1% 1% 1%) . N Bl Asked. | b 8" '8 |October, but generally 2 to 12 points Reading . 66% 66% 66% 66} | Auglo-American (mew).. 164 ~ 14% and 1% 1% |yicher There was some further scat- 2% 2 2% 2 | boreBerymaer Co 3% i g | e | idation. over the govern- B 88 |Glenrock Of1 ... 84 $7 | tering liquidation o e gey gon & 1S.leelk“ 6% 8 K % b 160 | Guffey-Gillespie 1 12 [ment’s crop report, dufie“ noon. ep Motor Trucl % 9 % 9 107 Gramada 01l 2! 3 the offerings were qui re: = Royal Dutch. . o 8% 48% | Cresce pe Co, 26 la .. lb-?fl 4% | sorbed by covering and New Orleans, St L & San Fran 2% MK 13053 Hercules’ Ruper H 8" |Wal| street and trade buying. Oc- L P 77 | Intercontinental Rubber .. 8% 6% | tcber sold up to 16.23 and January to St Louis Southwn. 24 U% 2% W ignal Oil Co. 34 International Petroleum (n¢ 10 lfl& first hour, Sears Roebuck. 6% 63% 64 158 ay unty 1 1 Indiana Pipe Line . ke t t advances of 16 to 20 points. Seneca Copper 1% u% 1% 131, | Lone Star G 167 25 [Iivernool attributed steadiness there ! Stncisto O o ety s Cod 1477 | Magma T 18 [to a better Manchester demand and | Southern Pacific... 16 76% 7% 76% 4 87 | Maracaibo 18 18% | gmall offerings from the south. Southern Railway. 19% 19% 19% 19 | pennayivani B8 ascogv ey 1, 1%|°"Futures opened steady: October | Southern Ry Df... &1 46 & |Prairie OII and Gas Co.. 35 | Midwest O s 8% 116.00; December, 16.33; January, 16.30: Stadobaker..o.. ma T T | Sour menting G T R L o 1 udel = SubmarineBoat... 4 4 4 4 TR SO0 Aamcnin chesdcars a5 g% R,’;fifingoflifimfil&mse&fr?::; side Safety SuperiorOil...... & 4 4 4 |ga P 58 | New Cornella . 1 32 | were in sufficient volume on the open- Ease of Mind Superior Steel u o ou ou 10% | Nipissing Mines 4% 4% |ing of the cotton market today to de- X ‘Temtor Corn ( 5 5 [ rd Of 883 | Noble 0il and Gas. 17 19 rices 9 to 14 points, but on this Convenience Tenn Copper 7 1 1 1 (B o 840" | North Amer. P. ang P! Zx 3% (Doft spot mew buying came in, based . ‘enn Coj . Ny T 't ot ne! . Texas Company... 8% 6% 3% 34% | Standard e e o 16 1% |on billish expectations concerning In denominations of Texas & Pacific... 2% 2% 2% 2% | Btandard Oi 328 s 18| the pending condition report from the . $108, $250, $500, $1.000 Texas&PC&OIl. 17% 1% 16% 17 370 87 g9 jgovernment. At the end of the first s Tobacco Prod..... 60% _ 63! ) = :22 4% | hour of ?u;lnel i} Dflx! o 1:11; ,fi' DEPT. % | points higher than the = 247 1, 2 October fell off to 16.45 and > % e o terday. e the organization’effective. Boan. Consoitanted : G By |reacted to 1878 4y’ Octob 8alt Oreek Prod: 22 32 The market opened steady. ictober, Main 71 lflh = e ot MONEY AND EXCHANGE. :ltlcuel (new) :x x% 16.45; D)at:l;mm 15"112.“ -shrmlry. 16.81; 2345 3 St. things out in eir own relentless —Prik pulpa_com. March, 15.93; ¥, 16.06. way. The workers In each Industry | mareantite saper” 6ats: Sroniime |Simms Petrol 8 have the privilege of saying that they | atrong: sterling 60-day bills and com H = e will not come down until everybody [ mercial 60-day bills o . 3%| MBS. BURCH GETS DIVORCE. ST else does, and perhaps not then. No-|370%: commercial 60-day 2232 2 Sept. ~1.—Mi body has authority to say who shall 3700 aemand, 3.74; cables 1?‘ LAWRENCE, Kan, Sept. 1—ure.| B ERNST & ERNST 2348 1 - 20 30 6 ments are in balance with each other; and it is the same with the industrial ornfi\.lntlon of the country and the 'world.” m “There seems to be nothing to do but allow the economic forces to work WASHINGTON, COTTON CONDITION Direct to The Star Office. Noon prices reported to The Star over direct Bigh. Low. o, New York-Wasbington wire by Redmond & Co. Ci e ‘::: AI Nm lnw MARK a"{"# Sk ; “ a% e 1wk . B. 1929, United Retall Strs. s1% % 5% 04 Sl B Snd Trciand biss 1561, USFood Prod.... 1% 104 1% 1% Decline in”August Produces and Tel. cony. Ga. U 8 Inds “® & Co. 4%s.. e ..';:m""' “% ¢ 2!6 s tchison, Topeks and e o Reduction of 1,166,000 ARStE S wd 3 s % W A 3 Baltimore n:'d%ahb?o-uv. 4%s. 1 ‘:2 e ales In Estimate. Baltimore and Oilo ... ooooo Lot i d Ohlo B. W. DIV i Dial Copper S % :: :u Decline in the eondition of the cot- Bethlehiem Bteel ’-:ta. Be.. ’2 ValoaumSorp..- 3 B BM e |ton crop during August caused a re- | (UTLEERR Y, Vo N Vivadod - : %w "o 6% 6% |duction of 166,000 bales in the es- Wabashpf A. 20% 20% 2% 2% |timated final production as compared Wella-FargoExp. 88 88 58 68 |with the amount forecast a month |Ck Western Pacific... 3 1 31k % o Che esternUnion.... 8% 8% 8% 84| "proquction this year was forecast|cni, Mi Westhse Alr Brke. 88 8 8 8 |ioday at 7,087,000 bales of 500 pounds | Chicags esthouse E& M. 4% 4% 4% @ |oro55 by the Department of Agricul- | Chi., Rock Island and Pacific t;:‘i l;* -'m ture, which Based its estimate on the icago Ualos Statlon 0%s. condition of the crop \ugus! o x g = 8% 6% % |which was 49.3 per cent of normal, | Delavare and Hudson Ts 1980. ] Willys-Ovid pf.... 26% 364 2% 25%|forecasting a yleld of 1,270 Pounds [Genersi Eiectric 6s deL Worthington Pmp. 3% 8% 36% 8% | per acre. The condition of cotton on August 108 High. Low. Last. | 26 was the lowest it has ever been In Call Money...... 6% 6% 6% [any month in the history of ‘ll)lle 60:- ton-growing industry, according to HOURLY SALES OF STOCKS. |the records of the Department of A hviile 78 1lam.... 107600 13m.....17 400 | ricuiture. The Department of Agri- xiisiouri, Kanxas and Texa 1p.m. 238 700 2pm....288 700 |culture said: Minsour! Pacific general “Everything seems to have gone wrong with the crop. In southern South Carolina, in Georgia and Arkansas and in portions of other states, excess rain- fall and cool weather have combined to give a big weed which the boll weevil in the flush of early invasion has at- Washington Stock Exchange. SALES. ington 5e—31, 1,000 “""’K’ Gay ,000 at 77%, § 15, |tacked varaciously, destroying all-- gt Ay et %00 St 0115, | squares and bolls set during August and 1,000 at 61 1,000 at fl!n. ;l,lm at 613 leven attacking the larger bolls. Potomac_Blectric 1st 5s—$1,000 at 89%.| “The mild winter is held responsible e B Sowat N s mu for an unusual number of weevils as Weahtngton Hatiway: com 5 at 25, = |well as other insects, which have mul- tiplied beyond measure and. arc de- vastating the new growth in, practically all the area of its present range. The army worm is present in large num- bers throughout most of. Arkansas. Tenneasee and north Misalssippl, but the defollaticn of the heavy grow‘i ix not looked upon as an unmixed evil. “Boll worms and the usual pests are present in greater numbers than vsual, but their damage is small com- pared with the weevil. In North Car- %53 | olina and Virginia the long drought has been almost as destructive as the weevil elsewhere. “The northern edges of the belt, from Virginia and North Carolina, through Tennessee, northern Arkan- sas and northern Oklahoma promise about two-thirds of a crop. Mississip- t—5 at 43K, 5 at 45%, b ful el S at 120, 5 at 120. K i CALL. 000 at 77%. cent. Washington R Mones-=Gan Souns, oo per Bid and Asked Prices BONDS bama, still forecast better than half a crop.” HOUSE TAX MEASURE WILL BE REWRITTEN Decision was reached today by the Senate finance committea to rewrite the : | House tax bill, so as to include in one document every internal revenue law on the statute books. Chairmar. Penrose described House measure as a series of amend- ments to existing revenue laws and said e e apital Traction the bill which it will report to the Sen- N aaston Go ate “all inclusive.” It was desired, he added, to per- fect a measure to which any indi- any tax provisions affecting his pay- ments to the federal government. The committee agreed also, the chairman said, that it should have the bill ready for submission to the Senate, when the vacation ends Sep- tember 21. Dr. T. S. Adams, Treasury tax ex- pert, was with the committee today and will be present at future sessions while the bill being read. He and means committee in drafting the measure and is in a position to save the commiittee much time in deter- American Security and Trus Continental Trust Natlonal Savings and Trust the House provisions, Mr. said. Penrose —_— ' DIVIDENDS DECLARED. ;| -»canada Steamship Lines, quarterly, 1% per cent, on preferred, payable October 1. Tri-City Railway and Light Com- pany, quarterly, 1% per cent on pre- Francs, demand, 7.86; cable 1 Belgian frai demand, aond s Brorscsa 7.61%. Guilders, deman: 3191 Lire, demand, 4. » 4.50." Marks, demand, 1. ® 1.17. Greece, demand, 5.63. % demand, 21.75. Norway, 12 16 13.63. Argentine, demand, 30.12. Bra- S 18 zilian, demand, 12.25. -3 9 13-16 per cent discount 2 Government bonds irregular; rail- * road bonds firm. Time loans steady; 12 12% 60 a:y-. 90 days, 6§ months, 5% a6 per : - o cen 0% Call mdney firm; high, §%; low, & " 5%; ruling rate, 5%; last loan B%:; a % closing bid §; offered at 5%; call 951 26 loans against acceptances, b. uit “e pl and the northern portions of Ala- Georgia and South Carolina the : |it was the committee’s program to make vidual taxpayer could turn and find worked hand-in-hand with the ways mination of the meaning and effect of New York Central 7a 1980. New York Central deb. New York Telephone Ge. Norfolk and Western cos Uk and Western conv. Os. Northern PacHic 4. Packard Motor Car Co. 8s 1931.. X 5s 1968. 88 Pemeyivania B K. 8igs 10 101 7o of 1980. 1043 81 " ica h. @ 't d San isco 4s, series St [onin and San Francisco 6’ 1920. 80 8t. Louls and Bl:n Prlllldv.‘ll(‘n ine. 6s. :g% rd Alr Line refdg. x:vb::m ‘Afr Line adj. 5s. ';";l‘ Cons. ", 82 Grain, Produce GRAIN AND PROVISIONS. BALTIMORE. Md. September 1 (Special).—Potatoe ew, bushel, l.'lg 23.00; 100 pounds, 25a2.50; Nu{.zsl sweeui‘hurrelfi i .00. Beans, bushel, 4.00. Yams, 2 sos‘fnch«h"z ‘C‘(‘:’b,‘eg; . 5a8. Carrots, burfch, 3ad. Ce g 2::&.%‘.501&0& ‘Corn, dozen, 10a17. Cucumbers, basket, 35850 . ESKDIBntS, basket, 20. Lettuce, ‘bushel, 7521.00. Lima beans, bushel, 1.00a1.25. Ol\hi)‘n:, bushel, 1.60a1.75. Peppers. bllTe. 1214230. Squash, basket, 20a30. gg matoes, basket, 40a60; bushel, a1.00. Apples, barrel, 2.5 23.00. Cantaloups crate, 1.00a2.00. Grapes, common, bas- ket, 1.50a1.75. . ; s peaches, basket, 1.00a2.25: bushel. 2.5;::,5:7’.‘ Pears, bartlett, bllke(‘;o: 0 al.75; seckels, common, Plums. bushel. 3. and 3, 50a1.25. 4.50; bushel, 1.50 o-buket. 6021.00 .00. 5.00 Watermelons, selects, per 100, 1 222.00; primes, 5.00a10.00. spot, 1.36%; No. 2 red winter, gar- Ky, spot. 1.24%. i ucseyvt:r?lber ‘wheat, 1.24% per bushel; October, 1.26%: oes on grade. i . garlicky, 1.23%; No. 2 red winter, x. l.ll!z; o No. 3, 1.17%; No. 1 ¥s_Bag lots of nearby at 1.00, 112 and 114 per bushel ‘orn—Cob, new, . hl‘l:'!'elnln car lots; contract corn, spot, 66; track corn, yellow, No. 3 or bet- ter, domestic, 74a75, no sales. Oats—No. 2 white, new, 44 and 44 No. 3, white, new, heavy, 42242 No. 3. new, light, 41a411/. Rye—Bag lots of nearby ry‘ev quality, 80al.10 per ‘bushel; western export, spot 1121/, No. 3, no quotation. ‘Hay—Receipts of new hay were 92 tons. mew_hay, but no oversupply is ar- :‘l)\l:lng. Desirable timothy grade or light mixed hay would sell at & range of hay will start tomorrow. Straw—No, 1 straight 1ve, No. 2 straight zye. ;flml;\llfi;;«’l tan- , 13.00; No. B 1 wheat, 13.00; No. 1 ed a divorce in district court here from Arthur C. Burch, jointly charged with Mrs. Madalynne Obenchain of the Belton Kennedy at Los urder of J. be daughter of Angeles. Mrs. Burch is Bishop William A. Quay] ‘Allo Gale Burch yesterday was grant- % | LIBERTY BOND CLOSING PRICES. NEW YORK, September !—L\l;;%(g’ bonds crate, = romaine lettuce, 1.00a1.50; cymblings, Selling Prices at Noom: Dor crate, 60a7s ymblines: \Wheat—No. 1 red winter, spot.|3:00ad50; onlon Cabbage, 7 NO:ishel; No. 2 red winter, |3.00a3.50 per bbl , 1.00a1. L3 e o, % | lants, per crate, 1.5022,00; tomatoes, per box, 75a2.00; corn, 10a25 per dozen: beans, 1.00a3.00 per barrel; lima beans, de. | 20225 per quart. BALTIMORE, (Special). — Chickens — Alive, ers, pound, 27a30; white leghorns, 25 3.60 per |a27; old hens, 25a29; old roosters, 17. Ducks, 18a24; pigeons, pair, 25. Guinea fowl, each, 65. Eggs ;| Airsts, dozen. 38 southern, 36: Butter—Creamery, fancy, pound, 42 243; prints, 43a45; nearby creamery, to | 38a39; ladles, 30a32; rolls, 28a30; store packed, 26; dairy prints, 28a30: pro- cess butter, 34a35. CHICAGO, yesterday | Higher; creamery extras, 38; stand- The demand is only fair|ards, 35%; firats, 313, case: 24a26; 16.00 to 20.00 a ton. Official grading of “lg‘;e& unchanged. ;| 1daho whites, 2. nominal: | 2'65a2.05; Minnesota a2.00; Tat, {8in whites, 2.40a2.65. All sacked. SHORT-TERM SECURITIES. American Tel. & American Tel Gult O} Corporation Te 1063 98 . s 5 Hocktag Varicy i 08% ki locking ey 6s 1924, Humble Ol Ta 1923. 9% 9% Kennecott Copper 7s 93 9314 Liggett & Myers 100 100 'rocter & Gamble Ts 1 100 100! Procter & Gamble 7s 1928. 1008 100 90% 100% 1003 7] o o i 78 Texas Co. Ts 1 00 1003, Union Tank Car Co. 7s 1030. 101 101% Western Electric Co. 7n 1925.. 1 1008 | Westinghonse E. & M. 7 191.. 101% 101% bid; second 4s, %‘:.12: first 4% second 4%%, .84; third 4%s, lfl)urlh l‘;file 87.92; victory 3%s, victory 4%s, 9. and Live Stockl LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, per doz., 40, average receipts, 39. _ . Live poultry—Roosters, per II 18; turkeys, per Ib., 33a35; chickens, spring, per Ib., 28a32; hens, per Ib., 25a28; keats, young, each, 35a30. Dressed chickens, per Ib., £1; roosters, per ib., 22 3:840: keats, young, each, 6075, Pork—Dre: Live stock—Calves, pe 11; lambs, choice, per Ib., 10all hogs, per Ib., 10. Green fruits™—Applcs, per bbl, 3.00a 30.00; per bushsl basket, 1.00a3.50; west- ern, per box, 3.50a5.00; California lem- ous, per box, 4.00a5. California § oranges, per crate, 6.00a7.00; peaches, | per bushel, 3.0024.00; cantaloupes, per crate, 1.60a3.25. Vegetables—Potatoes, new, No. 1. per barrel, 5.00a6. 2, 2.25a2.75; sweet potatoes, per barrel, 3.5024.50; lettuce, nearby, per crate, ; miscellaneous, 27a28. Poultry- - g=Spgalnxse SFRMR RPEF & Co. 1st 6s. (Reported by Redmond & Co.) B, Offer. Tel. 6s 1922.. 98% 98 and Tel. Gs 1023. 98 1 Co. 6n 1923.. 98% 97 1 101 closes 38, 87.40; first Doultry—Fresh-killed spring 34a36; hens, per Ib. ; turkeys, per 1b. ssed, small, per Ib., 15. chol r 1Ib. 3 live 75a1.25; New York, 1.0022.00; celery, per doz., 50a75; DAIRY MARKETS. Md., September 1 spring- loss offi—Native and mnearby 237 i September 1—Butter— 33a37; seconds, receipts, ordinary 302 8,461 firsts, s — Lower; firsts, 29a31; toes—Receipts, firm, 2.65: 46 cars; W Nebraskas, 2.3! AUDITS—SYSTEMS | TAX SERVICE ‘Washington Office MUNSEY Buoo. - Reem 915 Telephone, Main 8307 - $50,000—79, {nterest, in 5 $0.000 7% interest, in eums of $1.000 to 83, : | Joseph I. Weller ?i“a..""‘ L. & Trusi FINANCIAL EQUITABLE Association Organiscd 1879 TZAR CUWPLETE\ 52211 Evans Building Washingten, D. C. Main 6189 and your self-respect as well Wi ' crease if you SAVE FOR A PUm- POSE—with that home of your dreams always in view. Join the Equitable! Subscriptions for the 81st Issme of Stock Belng Reecelved Shares, $2.50 Per Month 4 Per Cent Interest on conditions that may cause certain stocks to fluctuate? You can get the latest EQUITABLE BUILDING reliable news, boiled 915 F St. N.W. down and treated impar- JOHN JOY EDSON, Preside; FRANK P. = REESIDE. See’y. tially, on specific stocks and market conditions in this week’s 16-page issue Investor & Trader Ask yor & copy, we obligation The foundation prin- ciple of this House is absolute protection of the investor. After all, buying invest- ments is like buying anything else. Your protection is the in- tegrity, responsibility, good judgment and ex- perience of the House from which you buy them. Our First Mortgages afford the protection BALTIMORE OFFICE every conservative in- vestor desires. The yield of 8% available now is accompanied by the same marked degree of safety our investments continually possess. I Fifteen Reasons Why You Should Invest In Our First Mortgages Reason One They are absolutely safe. Money to Loan of trust on real estats. 9th and F a.w. t;onxn: o th IES is at all tim;s amply se . utright or of S 1 s e L mrzh:: hwoy rl;:ng::iedeu;le me: than Weekly Financial Review Sent on Request tury experience without a loss in either principal or interest is our record, which, we believe, justifies your con- fidence in our First Mort- gages. SMITH, ANDREWS & MARSTON 1412 H Street N.W., Washington, D. C. —_— Members New York Stock Exchange Baltimore Stock Exchange Chicago Board ef Trade IT IS OUR PLEASURE TO ANNOUNCE THAT Y. E. BOOKER, Jr. FORMERLY FINANCIAL EDITOR OF THE WASHINGTON POST HAS BECOME ASSOCIATED WITH OUR ORGANIZATION CRANE, PARRIS . COMPANY INVESTMENT BANKERS FIFTEENTH STREET WASHINGTON, D. C. Why Dig Forever? Work is a wonderful thing—but so is thrift. There would be small joy in our work if we thought we had to dig forever. Investment in our First Mortgage Notes on improved Washington, D. C.,-property is a guarantee against that time when you will wish to stop business. Swartzell, Rheem & Hensey Co. 727 15th Street N.W. Washington, D. C. The Nation's Home Town 52 Years Without Loss to an Investor CO-OPERATION That Works Both Ways You might be interested to know that a majority of all new business now coming to this Bank originates directly or indirectly from g:nonsl recommendations of one kind or another. In return, we give the best and most helpful service of which we are capable. The Second National Bank “The Bank of Utmost Service” 509 Seventh Street, N.W. Ask for the Daily Dime Savers. They are free to That means that your money @ the amount of the mortgage. Over a quarter of a cen- |