Evening Star Newspaper, September 14, 1921, Page 24

FINANCIAL. Principals it be At thelt nd Baturday. September to 10 from Am . Am&r&fly..».. ‘be. tranatesred will be sent to the . Digher classes. B prepared Grammae and Compoel- S. History and Con- hy. AII ‘applicants must r icates or records of all in other -c»ou. Am Chicle Co.. Am Cotton Oil. Asso Dry G 2d pf.. B L3 86%: Atchison. . Atchison pf. Atlantic Fruit Co.. Atlantic Gulf..... 28% Atlantic Guif pf... 23 - | Atlantic Petrol. p.m. to_the examinations. ‘requirements o¢. admission 1o frst-year me 3 outlined 1 for admission should be Jieh for,vhite pupits -ot colored schools at the Robert Gould Shaw duner Hieh School, Ist and M streets morth Aueuncemint o (e epening ol (N ey later date. o OF SUBEGYISORY OFFICKRS CHERS.—AIl supervising principals bt turds; D p.m.: Weste Bu!int- High SehML &'hllol 3 p.m.: Miner : Dunba: llh wae'} director’ of primary_instruction Sachers NEW T0 THE GRADE "oR SYoTeM 2 p-m;. Themson Se turday. Septem- See 18 e aasiatant dircetor pt primary | will meet all new ! teachers ew in_ grade, inclading term 1920 September 17, 2 p.m.. Robert unior High School, model teach- 3 at 1:30 f The opening meeting for in the kindergarten department Monday. September 19."at 2:30 Thomson School. (Signed.) ' FRANK BALLOU, - Superintendent ‘of Schools. 14 STEAMSHIPS LURAY EXCURSION Sunday, September 18th. Special train will leave Washington at 8:00 a.m., returning same evening. $3.50 covers all expenses. Early reservations ry. DELTA TOURS 500 NEW YORK TO EUROPE ilings fre ier 74, 34th St., N. R. GEORGE W ASHINGTON and AMERICA (Piers 3 and 1, Hoboken) excepted. PLYMOUTH—CHERBOURG —BREMEN AMERICA: Sept, 28—Nov. 1—Nov. 29 GEORGE WASHIN GTON : 4—Nov. 8Dec. 8 'LY“OUTH—BDULOGNE—LONDON Lururious—Com} oLD NORTH BTATE i Sept. CENTENNIAL STATE. s 11—Nov. 15—Dec. 15 > Oct. $5—Nov. $6—Dec. 57 BREMEN—DANZIG MATOIEA: Sept. 15 Oct. 33 Dec. 10 Sept, 28 X ’lhn.fl UN'ITED TED STATES LINES 5 Broadway, N. Y. 2050 Whitehall MOORE & McCORMACK COMPANY ROOSEVELT STEAMSHIP COMPANY UNITED AMERICAN LINES .llmmyiny Operators for the United Stat Sluppm‘ Board BALTIMORE TO Reston, Tuesday, Morfolk, M 3 oy e Mlmflh l'fl. 10 Days to JAPAN 14 Days to CHINA 17 Days to MANILA in Comfort on the Palatial Travel EMPRESS OF RUSSIA EMPRESS OF ASIA - its Everywhers, or s g{n&_"?&.":" —_— Bklyn Rapid Tra. . Bklyn Union Gas.. 6 [J Burns Bros. .. 0% 0% Butte & Superior.. 13% 13% California Petrol.. 38 39 Canadian Pacific.. 14 = 11¢ p|Central Leather... 80 30 Central Leather pf Cerro de Pasco. .. . Chandler Motor. ... Ches & Ohio. . Chi & Alton. Chi Great W pf.... Chiil & St Paul. Chi Mil1 & St Ppt. . Chi & Northwn. ... Chile Copper Chino Copper. C C C & St Loui Columbia Grvh pf. Comp Tabulator. Cons Cigar. ... Cons Distributors. Cons Intl Cal Min. ConsGasof NY. Cons Textile Corn Products. 6% 68 7% % Corn Products pf..102 102 Cosden & Co...... Crucible Steel. . Cuban-Am Sugar. Cuba Cane Sugar.. Cuba Cane Su pf. Davidson Cher 38% Del Lack & Wl'-n-- W% 102% . 1% 1% Endicott-Johnson. :K o Elk Horn Coal Erfe. Famous Players 2 % %% 1% M4 8% 2% 38% 1 Famous Playerspt ™ n Fisk Rubber...... 10 Freeport Texas. .. Gen Asphalt Gen Asphalt pf. Gen Cigar. Gen Mot 7% deb. Goodrich. . Goodrich pf. eeee T8 Great Northern DI. s Great Nor Ore. Greene-Canan: Gulf States Steel. . Gulf States 1st pf.. Haskell & Barker. Hendee Mfg. Houston Oil. Hupp Motors. Tllinois Central. Agrl Chem ¢ | Intl Harvester. Intl Paper (s Invincible Oil. Island Oi1 Jones Tea...... Kansas City Sou. . Kansas C Sou pf Kelly-Spring Tire. Keystone Tire. ... Lackawanna Steel Lee Tire & Rubber Lehigh Valley. . Lima Locomotive. Loews Inc. . LoftInC....eecuue Loose-Wiles. . B Lorillard..... . Louis & Nash'..... Maliinson & Co pf. ‘Manati Sugar. Manhattan Elev. Market St Ry..... Market St Ry pr pf Ia Market St Ry 24 pf 6% Marland Oil. I Maitin>Pirry. TOTHE ORIENT| MAthllon Alkill. Mexican Pet: Miami Copper. Midldle States Oil. Midvale Steel. | Minn & StL.(n)... 10% MinnStP&SSM. m ‘Mo Kan & Tex Mo Kan & Tex Mo Pacific..... ilgfi:fl§!:fll§ 5 'l§3! H FEM SRR T T Rt R HU P §23%3550 83850 0 R ugegnezagantsngunnn,Bunagegne gugy H bt 1 FEL LU LR L : }'!‘i“iifiiziifi"§’“¥5‘§E"§§§§Ei!fi'!!§!§§53'§§§§!§!'““5';!"¥i'§'§§§‘§'¥"i‘i:!i%“!’%“!"&!”i fi!"i S & L R =8 FF !”!ii'§§‘§!'§E=§‘E’iii‘%fia‘%i*“?i a""éas"i";;-;sz“;'s& ? guefBasyag: s & 5 =§§'!§§Ei§!i'!i"!"f§!’§§!i!!'§ !a';;5!‘iiiiiiiii%ii‘i’!§§i§i'?“fii“"!§§§!’!§§5!'!5- Southern Ry pf. .. Standard Mill pf. .. et Stand Oil of Cal. Stand Oil of N g H TMS(L&Wa:tn.. s Co:t%;)ll. ransue & Wilms. 2s14 Union Bag & Papr. Union Ofl: ....orrs 1 Unlon Pacific pi 3 United Alloy Steel % United Drug...... 5% United Frult United Ry Invst... 8 United Ry Inv pf.. .18% United Retail Stra. 56 USCast Ir Pipe... m U S Express. USFood Prod. ... 17% U S Indus Alcohol. ‘6% U S Realty. U S Rubber. i'!5%2!=§!§§§§!§§§;“5'§§§§’§§§!§"’E?!iiiig!"§i"‘!§'§§’!§i§!'§ Javefregaqaxgns -1 FRE HELLEY §§3=§5’5' E%:;”!‘iii“i’ Wells-Fargo Ex Western Md. ‘%?i!"’5"33‘%’5523;i’i'5"35§§§§§£i‘!ii!i';fi!!!§§§“!§§!”§ i 38 ern Pacpf... 614 Westhse Air Brke. 8¢ Westhouse E& M. 4% Wheeling & LE... 8% Wheeling & LF; pf 18% White Motor....... 3% White O1l. 2% Wilson Company. . 351 Willys-Overland.. 6% ‘Worthington Pmp. &1 i FRLEEF IR R Call Money...... HOURLY SALES OF ‘T“K& llam.... 20730 12 1pm..... 543 400 2p. Washinaton Slock Exchange. c.u' m""m""‘e"""fl — -l divS 0 ae AFTER CALL. Washington Gus Se—2, “’.":un.'.%c_ 000 at 80, $1,000 at 121% S0 se 1% Pany—5 at 121%, 10 ‘at Bid and Asked Prices BONDS 3 PUBLIC UTILITY. Americis Tel. aud Telga. 4o American Tel, and Telga, !sus&:isz:gz 1 “ ! FRE R R B B et ‘Sh‘::- Tint Ss, 1927 ‘ I’lllln%lu Market Se 1047 a8I8 82 SBflNflSFIRM STOCKS ARE SlflW' [ BY_L A. FLEMING. Caplital Traction sold at - 86 cu!_l and 87% ex-dividend today, lndlut- ing a decidedly firm -tone. - Part of the dividend may be recovered in t.h‘ near future. Union 'l‘nnt, lhnm featured the stock list business, quite a few transactions b-ln‘ made at 121%. ‘Washington Gas 6s c. jed to & new high on this movement, when they sold at 80 today. Rallway 4s w strong at 61%. Joins Steck Exchange. John W. Brawner was today elected a member of the Washington ‘Stock Exchange. Owns High-Grade Trusts. ’rhs government owns _$134,638,000 trusts of credit standing compa- Plple with the trusts recentiy-sold tp Kuhn, Loeb & Ct In $310,000,000 of ‘trusts for equipments. In the selected list are trusts given by some of the very strongest roads in the country, including Atchison, Burlington, orthwestern, Pennsyl vania, Delaware apd Hudson, Mich- igan Central, New York Central, Norfolk and Western, s«uthern Pa- cific and other good ro: 1t .is probable lhlt I part of these trusts will be m: ketad honn. Columbia Graphophone. Today’'s Wall Street Journdl ocon- ns the following: “Rapid advance in Columbia Grapho- phone stocks is attributed to improve- brighter aspect to outlook for the coming season's business. Since ‘Thursday, September 8, the preferrsd stock advanced from 12% to ZS". while the common moved from to 5%. Low price for the year tnr Graphophone preferred was 9% and low for the common 2 “During the first eight months of the current year business. of thes ot pany was 560 per cent above the same period of 1920. Budnen for the closing three months of 1918 was 70 per cent ahead of that of the last quarter of 1918. Early in 1930 the company faced a very difficult shipping situation, when the railroad strike was {n eff his was fal: lowed by the outlaw strike in Aj of that y * '(Mumbu Gpaphophone does not make its own cabinets, and usual cus- tom is to order from seven to nil months’ supply in advance. 4t tl close of 1919 -nd early in 1920 the company, in expectation of fall busi- ness 50 per cent to 75 per cent above that of the previous fall season, or- dered heavily in cabinets and raw materials for motors. As was true-in all lines of industry, holiday business was far short of expectations. The company, through its twenty-two br: nche-. Jobs its own products. y at present has around ban. 3.5¢ $3,000,000 €ash_ on hand, which will be materially increased by the first quarter of the coming year. One fg§- vorable development which will no doubt go far toward liquidation of stocks carried by the company is the advance in cotton and grain prices. Improvement in_ the southern situa- tion will place the Ssouthern lnnc}n in a good position, as the south is one of the best flelds for marketing the company's products. “Since the stock is wldfl}' distrib- uted, there is reason to believe that inside interests have been buying the stock, in view of the improved.situa- tion and better position of the com- pany with respect to the banks. Notes outstanding amount to $13,600,000. is underatood that lha banks will see the company through the fall season and offer overy ance in settle- ment of its fin problems.’ This statemeént is unquestionably very encouraging, much more so than any information received by Wash- ington, and a director of the corpora- tion resides here. ‘Washington has been informed that the banks have agreed ‘to “see the company through the fall s and that there was “some improvement in but no information of the wonderful improvement in the last five months has been given circula- tion in this city. In the first three months of this year, the same authority some months ago gave the net result as a loss of sonte $625,000, so that this big loss must have been overcome and an ex- cellent business recorded in the last flv; months. hNo report for the sec- ond quarter has been made public. N%IQ = vailable here. 2 ashington is a very large holder of Columbia Graphophone l'(ock. aeé- quired at very much higher than pres: ent levels, and the local shareholders ate entitled to some consideration in the matter of first-hand information. Where Are the Certifieates? Benjamin M. Anderson, jr., Ph. D., ¢ { economist of the Chasa National Bsnk. in an address delivered before the West Virginia Bankers' Association this afternoon, discussed at some length the question of “Right Prices,” d followed with an appeal for the efunding of the Treasury certifi- cates.” lerson holds that these cer- re largely held by businegs corporations with temporarily idle funds,” and points out that this situs- 1y throw the Treasury certifi back on the banks, !lfl(flnlnzu:;: money market and interfering with the anlplent upward movement-in busie . Bankers contend that very £ - ness corporations are strons. enongh to have idle funds seeking temporas employment; they hold’that while t)lls Was true a’ year or more ago, that l'lvoh,:l'eo‘corm')mth:nl hlflvellled in mil- certificates and liber! that day has passed. il Business corporations have, in their ::‘:::‘::fi t.;enenlly realized ;: both in- course, _t| States Stee} Corporation is ;{Lm:e ceptian. Insurance corporations may be heavy holders of certificates, some banks carry part of their secondary reserves in these securities and many corporations conducted not as a busi- ness, but for research and scientific purposes, hospitals, art associations, etc, are admittedly heavy buyeu. Moreover, the public has also acquir- “|'ed millions as investments in times of FOREIGN BONDS. stress and ln-cuon elsewhere. is small question about the neod of relundln‘ the certificated: Secretary Mellon . has urged and is putting “his urge into effect with short-term notes, with neommendn- tions for longer-time bond issues to take the place of the $2,000,000,000 0dd certificates. John B. District Bankers’ Assoclation, has re- ceived general encouragement from heads .of District bahks, giving cof- dial approval to the proposed bank- | ers’ building project. A fifth applicant for space in the building, if erectoi has iippeared in the Investment Amclau;);; Bankerg' and a sixth gh~ making hnudlns the hem uarters of the American Bankers’ Assoclation In :flm ol:‘ and Washington. The project is getting better daaily. W. BS& A. Dividends. Directors of the Washington, Bal- timore and Anntpolh ;nocc.rle Rail- road - Company _yesterday. the renln- qumuly dlvldend of 1 per cent on the preferred stock, also 1 per cent on the.common stock. Both dividends are payable Oetoher 1 to_stockholders of recor all {t ownhs|@ Lagé Larner, president of tle T am-m REes :i Rm.-. 223338 §l£%§~l§ifln§ Chi. G ugi‘éigi'aia ‘l’fi l'l'n Ial Eotevitle sad. Neshyille 75 ansas and Texss 1 New New w55 o 288325 gsgisxsa: Gram, Produce . /GRAIN AND PROVISIONS. 65 head, 6a13; carro! nuwm- hu—rel. 100-!.00* celtrv. crate, 2504/ 00. dozen, 15a25; cucumbers,| skt 50a00; egEDiants, basket. 2 etfuce, bushel, 50a1.00; lima beans, 3 sn')h-t&o’ O skcer. " 3oa30; rs, ef : R e shel, 90a1.00. e barrel, 6.00a7.00; ordinary, barrel, L00atis; can” Damsons, basket, busl ll 2.00a4.00; hamper, ulounag’. crate, 1.00: :. 3 ound, m d, 20; ymall ket, 3532! I B0al. bushei, 3.0024.00; pears, bushel, 2.002 ;_plums, bushel, 3.0084.00. Watermelons, selects, hundred, 25.00a. 3&00 primes, 8.00a12.00; culls, 4.00a Selling Prices at Noon. ‘Wheat—No. 1 red winter, spot, 1 39 bushel; No. 2 red winter, Vor. 2 red winter, n.rllcky. spot, l!l. mmhlr ‘wheat, * ked Dbr bushel; cargoes on :n 2 red WIINQP. .lfllcky. No. 3, 121 No. 4, 115%; No. 5, 1.10%. Salei D-—BIK lots of nearby, by sam: ple,~as td quality and condition, 1.05, 1.13, 1.15 and 1.20 per bushel. Bag lots of ‘samp! l: lo‘rflle.b whln":ar, icky, LO‘ and per bushel "Ck, yellow, 3.60 per contract eoens -::t. 65%; track corn, yellow, No..2 or ter, domestic, 75 asked. 0 sal “Ostg—No. 2 white, new, 50; N white, new, as to weight, 46 to I'll,. .Rye—Bag lots of mearby quality, 1.0021.10 per bush westsfn _export; spot, 1.156% per bu el;.No. 3, no quotation. Hay—Receipts of néw hay today were 51 tons. “There was only a moderate dll‘nlnd for good quality timothy and n and this centered on dulnble Qu&lll)’ of timothy and mixed, with bulk of sales within range of 16.00 to ZOW W«tfin. Poorer grade of hay has to be sharp- ly discount Straw—No. 1 ltn.lxhl rye, nominal No._2 straight rye, nominal: No. whult. 13.00; No. 1 oat, 14 50216.00. HICAGO, September 14—Active bnyin; of United sute- ‘wheat yeste! day on the part of foreigners had a builjsh .effect in the futures market today. .One of the houses that have been . <conspicuous sellers ~ of late changed front. News regarding crop depértnients in_Argentina and Au tralia was carefully watched. Ope: ing quotations, which ranged from % m % M‘her, with Deeomber. 1.32% and May, 1.37% to 1. ‘were lollo' by material further ‘lh\a. Deelineés in the hox mlrket ‘weak- ened:provisions. Low. Close. ‘WHRAT— 14 1 December: °'i'éx by 305 1304 gar- g B s o December. May ‘:.dEW mlx. BOEtezber ll —Flo:l;a— 8 ¥ ng patents, barely’ steady; middle west, 11.45a1l. 55 o«}.’er articles unchanged. —_— STOCKS. . CURB kutwnmmmllvy WEB HMe & Cr. ~12:15 Actmi Allted 0l . Na Bl Fay Feferal i B ?-—Ei;-gu nanE e i BY W ORRR B2 w®OEE R ..n;:;gq;i 28 \ RRE SRR R ireau of markets): m ooy oz mli feeder lambs early, 7.25a7.3 TODAY’S BOND PRICE a:z;fis‘agg 358288558 ES;;_EE g EE2ES 8228 w i 5 FINANCIAL. MRGEUFFERINGS CHECK ADVANCES Evidences of Hesitation Seen in Stocks and Cotton. Some Declines. BY STUART P. WEST. NEW YORK, September 14.—In all the leading markets today's price movements revealed a good deal of uncertainty. Prices had had su’h a large and continuous advance during this period that it was a question whether this had not been ample to measure for the time being the recov- ery in business which has taken place along with the generally more help- tul feeling ovér the outlook. The greater part of the share list started in upder a rush-of fresh buy- ing orders and made further prog- ress upward during the first hour or 0. Then heavy profit-taking was en- countered and the market begin to waver. It was still a very narrow, profes- sional speculation, and just as at- temps to buy stocks in any guantity % | had put up prices sharply, s0 attempts LIBERTY BOND CLOSING PRICES. NEW _ YORK, September 14.—Liberty bonds eloud 3%s, 87.40; first 4s, 8.1 lmnd 4 first 4%s, 88.1: third 4%s, 92.4 fuurt!l l"l, 88.44; victory 3%s, 99.06; wvictory 4%s, 99.04. and Live Stock' LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, per doz., #1a42; average receipts, 40. Live wnltry—mners. per 1b., 18; turkeys, 35a36; chicken pring, per hens, per Ib. 25a28; keats, young. each, 35a50. Dressed poultry——li‘resh killed spring hens, per 1b., turkeys, per , 60a75. 15. Live stock—Calves, choice, per Ib. 12;-lambs, choice, per Ib., 10; live hog: per 1b., 8%. Grean fruits—Apples, per bbl.. 3.00a 10.50; per bushel basket, 1.00a3.50; western, per box, 3.50a5.00; California lemons, ‘per box, 5.00a7.50; California 5.5 ; peaches, ; cantaloupes,- per crate, 1.50a3 5 V“'hblel—?outoe!. new, No. 1, per bbL, 5.0086.00; per sack, 4.00a5.50; No . 32 7 eet potatoes, per bbl lettuce, Tonrct New Fork celery, per dox., 50a75; romaine iet- tuce, 1.00a1.50; cymblings, per crate, 50a75; spinach, per bbl, 3.00a4.5 onions, per 100-1b. sack, 4.00a4. cabbage, 3.00a3.50 per bbl.; cucumbers, 1.50a2.00; eggplants, per crate, 75a1.50; tomatoes, per box, 50a1.50; corn, 2040 per dozen; beans, 2.50a4.00 per bbl; lima beans, 10a25 per qt. DAIRY MARKETS. BALTIMORE, Md., September 14 (Special).—Chickens, alive,.springers, 1b., 28a32; White Leghorns, 26a28; old" hens, 24a30; old roosters, 16a17; ducks, 18a24; nl’s")eonl. pair, 25; guinea fowl, 3} each, 40a Eggs (loss off)—Native and ne!rb)’ flrfll. dosz., 38a39; southern firsts, 3 Bulter—Crelmery. fancy, Ib. 43ad4: prints, 44a46; nearby creamery ladles. 30a32; rolls, 26a30; store plrk l-'h;;x prints, 28a30; process 235, Higher; ereamery, extras, 423 firsts, 33%a41; secdnds, 30 Egn—l-ngner receipts, 7,539 cases; | firsts, 30a32; ordinary, l'h‘!(& 26a2' miscellaneous, 283%a29%. Poultry—Alive, unsettled; fowls, l’g a27; springs, 23%. NEW YORK, September ll—Bul ter—Firmer; receipts, 11,350 packag: ereunsry higher than extras, u&. 451 ; creamery, extras (92 score), 44a 443; creamery, firsts, 88-to 91 score, H%lzil;:‘mkln‘ stock, current make, 0. 2, 26. -Firm; receipts, 26,811 cases: fresh gathered, extra firsts, 39a4. do., firsts, 35a38; state Pennsylvania and nearby western hennery, whites, firsts to extra fancy, 53a70: do., brown: extras, 48a50; do., gathered and mixed colors, firsts to extra 36a47; refrigerator, special ‘marks, 35a36; do., firsts, 33a34. CHICAGO LIVE STOCK MARKET. CHICAGO, September 14.—(U. S. bu- Cattle—Receipts, 11,000 head; fat yearlings and_best handyweight steers, steady to 15 higher; others, slow; prime yearlings, bulk native steers, 7.00al 7ai hoifars. Bgher, other stock. eatves and stockers, steady; bulk fat cows and heifers, 4.25a6.60: veal calves, to packers mostly, 13.00813.60; stockers largely, 5.00a6.00; bulls, strong, to 15 gher; bulk \mlnnu, 4.5084.75; beef Diln 5.0088.00, Hogs—Receipts, 15000 head; better grades, 25 o 35 lower than yester- ; | day’s average; others mo-tly. 10 to 25 lower; practical top, 8.50; one load, 880 bulk lights and light butchers, 008.50; bulk packing grades, §.258 & 7.50. ‘Sheep—Receipts, 22,000 head; fat lambs opened strong " to higher; fat | sheep and feeder grades, firm; top| nattve lambs to city butcher, packer top early, 9.50; closing mostk: 6.0086.50; no range lambs sold early; conmenul Chomg Nlflmll !lflnll d range yearlings, 8;5, MONEY AND EXCHANGE. NEW YORK, September 14—Prime mercantile paper, 6%a6. \Exchanze weak; sterling 60-day bills and com- mercial 60-day bills on banks, 3.65 commercial 60-day bills, 3.66%;. de- 5.45. Sweden——benlnd, 1.50. -Diemand, 12 ll“—Dmmd. 12 75.. Mon pigs mostly, 30 lower: bulk, 7.25a | Argentine, 31.75. treal— to sell resuited in equally abrupt de- clines. There were/ eviden, of tardy short covering in some of the recent favorites in last month’s falling mar- ket, stocks like United Fruit, Inter- national Paper and Harvester. ‘The market later in the day plainly felt the lack of a sustaining short interest, for there was no public buy- ing to speak of and everything de- pended upon the support and initia- tive of a few large operators and speculative pools. Bull Movement Hesitates. The fluctuation in cotton showed an equn amount of indecision, not, how- ever, regarding the «position in the cotton trade, about which there was undiminished ‘confidénce, but about the condition in thé speculative mar- ket resulting from the sensational fluctuations of the last fortnight. But the news of the day helped sus- tain prices against further specula- tive selling. The weekly review of the weaihcr bureau stated cotton had shown litile or no improvement and continued in a very poor condition. It also stressed the great damage done by the excessive rains in Texas. Both German marks and French francs were very weak again on sell- ing, which originated in London, and had its main effect before the open- ing of b ess here. decline in continental rates had oc- ctrred without much unsettling the market for sterling. But today ster- ling fell with the rest. The drop in French government securities did not continue; nevertheless, French bonds did not recover any of the ground lost 80 quickly yesterday. The selling movement in the French nificant as this week’'s severe break in French exchange by the fear—well Biandara o1t grounded in the tremendous shrink-{% age in German marks and the panicky condition in Germany generally—that the next reparations payment cannot | U possibly be made in cash. Meet Selling. The main power on the buying side today was again-supplied by specula- tive syndicates or by large individual operators working for these syndi- cates. It was reported that the move- ment in Baldwin Locomotive was run- ning into rather more stock than had been countéd on. Studebaker and En- dicott Johnson, two other favorites, were well taken care of, but the same large offeriugs, as there had been yes- terday made their appearance in Con- solidated Textile, and had the effect of stopping the rise, despite ide- spread bullish comment on the stock. Yesterday the | ¥ = . P ]aumm it "Co public loans has been quite as sig- Standard 01 G DROPIN EXCHANGE BLOW TOGERMANY Takes Over 50,000,000,000 Paper Marks to Buy Billion Gold Indemnity Payment. R BY GEORGE WITTE. by BERLIN, Germany, September 14.— Although at the present rate of ex- change 1,000,000,000 gold marks equals 20,000,000,000 paper marks, it cost Germany more than 50,000,000,000 bpaper marks to raise the first in- demnity payment of 1,000,000,000 gold marks (3238,000,000). The next pay- ment will cost even more, as the financial expert of the Berlin Lokal Anzeiger figures out that “the next 1,000,000,000 gold marks will run into 70,000,000.000 to $0.000,000,000 paper marks.” Debt Growing, He Says. “We are getting deeper and deeper igto debt,” he continues, “and are not working our way out. The more the mark drops, the more difficult it will be to fulfill the terms of the London ultimatum, which, even at the time of its acceptance, seemed impossible of fulfillment The allied countries are also bound to suffer from the critical state of German finances and eventually the world's finances will be 50 hopelessly entangled that the trade of the world, including the United States, will be choked off.” Leading German capitalists are de- fending themselves against the charge made by Chancellor Wirth that they had deliberately refused to help the government to raise the first 1,000,000,000 marks. They say that they are themselves in financiat straits and, therefore, unable to help the government to the extent ex- pected. —_— OIL STOCKS. Quotations furnished by W. B. Hibbs & Co. B Anglo-American Oil Co. (new).. Borne Scrymser Co, e thmvbl:lhnlc:&nn‘(h 1% e ug) ™ Continental Oil Co. o 108 i u?.:zei‘EE!E:-»-EEfliizfishzfi::uixfifl;i It may quite well be, after all, that the interests which salvaged the Ryan holdings of Consolidated Tex- tile have been letting out some of these on the favorable opportunity that has been presented. Soft Near Close. The diminishing demand. for stocks_ checked all upward trend. Shorts extended their commitments in oils, steels and equipments. [‘ ‘The decline from yesterday’s clos- ng was only moderate. WASHINGTON BANK STATISTICS. The following comparative figures show the deposits of Washington | banks as of June 30°and September 6. yesterday. Comment was made on this showing The compilatien is the work of A. P. S-lvlse, with the Nationgl Savings and Trust Company. NATIONAL BANKS. Ameriean 108 wpall s Total | Anacostia ! Citizens” ‘and Savings nm ‘Washington Exchange Hamilton Industrial McLachles Uateea People’s ... i4.4i668 10.388.17 1.308.53 15.614.28 29,50232 Total . 266001110 $27.372.872.65 $682,461.55 TRUST GOMPANIES, n_Security 1604,923.49 7 306.33 Pratm Ciesest $345,382.84 $58,015,040.80 RECAPITULATION. 87,289.681.20 87.358.577.42 2668991110 27.372.372.65 53,015.040.80 53,409,414.81 ..$166,904,633.10 $168,140,364.88 §1,145,731.78 . STRENGTH AND SERVICE - | mlbefintthn‘tthltyon&nnndmflu financial institution which you favor with your patronage. - 'l'lermonTmstComnyuMfinm mfly,sm:mmhumm muem!, strong in its 21 years of suc- ludap.mumd-b Savings, FomgnEuhnu,ScfeDmfit,TM-d ber 17. the E-mwunn on the common stock !or any plrtlcllll.r mlod., but- the ‘local financial distri come to regard the stock u-mnt on-a 4.per cent an- nual basis, the company having been paying this ‘amount for ®me tinme e " mdolt George T. Bishon, * whio ums ‘on front eland to attend the eeting, that earnings 80 m in un ‘were. .na:ollv_i. satisfac- tor ?rr’o‘i. that tions ‘affecting the ‘public utu.l? eorp-n! ps were fid- proviig, an ‘was & much more favorable Amtnne to such conf- part of MMMMW'.!.HM.M S8Ye Stz Bttty 2B o1 - a;#a:n;s.- 4 £ § ey easier; hl‘ll. 5; low, §; r-u, 5; last 5; closing. bid, fls— offered u S, sall loans agafnst acceptances, 5. 5 .l;ejqz " ‘E 18 H!l!;' ¥ §3:3558y v zagrgsnannags =