Evening Star Newspaper, September 20, 1921, Page 19

h!i?EW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. "d Chemical Allied Chem pf. Allis Chalmers. Am Chem Atn'Agr Chem pf. . Am Beet Sugar. . 10% Am Hide & Lea pf. 50% AmlIce........ 2% 9 *Am International. France.. Am La A Safety Razor.. Am Ship & Com... Am Smelting. 8% Am Smelting pf... Qm Steel Fdy. .. Am Steel Fdy pf Am Sumatra. .. Am Tel & Teleg. Am Tobacco. . Am Tobacco (B) Am Woolen. .. Am Woolen pf.... 8% 81 26% n% Atlantic Petrol. 1 Raldwin Loco. 86 Balto & Ohio. ol Beth Steel. . 52 Beth Steel (B! 5 Booth Fisheries... 3% Bklyn Rapid Trn.. 9% Burns Bros. .. % Butte Copper..... 4% Butte & Superior.. 18% Butterick. .. 2 Caddo Oil. California Pckg Qalifornia Petrol.. 3% Canadian Pacific. . 112% Central Leather. .. 28% Cefro de Pasco.... 26% Chandler Motor. .. 43% Ches & Ohio. . . 64 ©hi Mil & St Paul.. 25 Chi Mil & St Ppf.. 38% Chi & Northwn.... 6% Cii & Northwn pf. 102 #¢hi Pneu Tool..... B2 «*hi R I &Pacific.. 3% ChiRI&P 6%pf.. 65% ChiRI&P1%pL.. TT% Chile Copper. . Chino Copper. | Columbia Grph pf. 17 Cons Distributors. 1 ConsGasof NY... % Cosden & Co. . Crucible Steel. Cuban-Am Sugar.. Cuba Cane Sugar.. Cuba Cane Su pf. 19! Davidson Chem... 36 Del Lack & Wstn.. 107 DuSS & Atlantic. 3% Emersop-Brant pf. 25 Endicott-Johnson. 6% Erie. .. Erie 1st pf. Famous Players... 5% Fisher Body. . 85 Fisher Body pf..,. %8 . 10% 13 Gen Mot 7% deb. Goodrich....... Great Northern pf. 7% Gulf States Steel.. 38% Haskell & Barker. 56% Houston Oil. 0% ‘Hupp Motors. . n% linois Central... % Indiahoma. . 2% Inspiration =% Interboro Metro... 2% Interboro Met pf.. &% Intl Agr Chem % 1Intl Harvester. % Intl Mer Marine... 8% Intl Mer Marine pf &% Kelly-Spring Til Kelsey Wheel. Lackawanna Steel 414 LakeErie & W.... ::‘./4 lede Gas....... lll:‘;'l'lre & Rubber 25% Lehigh Valley.... b1% Lima Locomotive. 71% Lima Loco pf... %0 Loews Inc. Loose-Wiles. Manhattan Elev... 40 Market St Ry pr pf 31 Marlin-Rockwell.. 6 Marland Oil. . 1% Mexican Pete. 10% Miami Copper-..... 21 Midldle States Oil. 124 Midvale Steel. . 6% Vinn & StL (n). 9% Mo Kan & Tex. Montana Power 48 Montgomery ‘Ward 18 i NatlCloak & Suit. NTOnt & West... 19 Ne¥folk & Westrn. %% No¥th America. ... 39% Nérth Americapf. 34 Northern Pacific.. % Oklahoma Prod... 1% orfijeum Circuit.. 19% Pac Development. 12 Pacific Oil..... % Pafi-Am Pete. 51 Pan-Am Pete (B). 48 Panhandle....... . % Rarish & Bingham 12% . Pennsylvania..... 8% Penn Seabd Steel.. 10% Peaple’s Gas. ... 53% Pere Marquette 1% Phila Company... 29 Phillips Petroleum 2% Pierce-Arrow 1% 26% % [ 8% 26% 2% Punta Alegre 23 rure Oil. . plogle Steel. itep Iron & Steel. ~ears Roebuck. Seneca Copper.. =hattuck-Arisona. Shell Trad & Tran. 4% 0% 6% FEFLELEERT 2 & FRE i-flfl 3333575047555 Eenguegye e e LELTELE TG A FEELFEFETL b E =43 #Ss 2% b 2% 3 239080 ag 8gEs g oungRagRggyes 9 C s FOREIGN EXCHANGE. TODAY . quetatons urmabea oy . 3. 1iom & co. | FUR PRICES INCREASE. . Noon prices reported to The Star aver direct SHORT-TERM SECURITIES. g Selling checks—holiar Yalues 8t noon’tofy:| NEW YORK. September 20.—The k New York-Washington wire by Redmovd & Co. (Reported by Redmond & Co.) afuun sixth annual fall fur auction opened Open. High. Lov. Close. Bld. Asked. Warsaw ith totaly sal tim: TennCopper...... 8% 8% 8 8 Ameriean Tel, & Tel. 60 1922.. ‘¥ois "Bty | Copenhugen Derewith totaly salceseatimatod iat { 0,000. TexasCompany... 3% 3% 35 34 I & Tel. sal sek ChHInn 550,000 _ - Texas & Pacific... 2% ZY BK 2K AR T 1075 | Pometerd Stackbolmiy:s More than 837,000 moleskins, enough Texas & PC&Oll. 18% 18% 18% 18% b 1008, lgn .‘i:::;-: :;z" ael"nde to make a string forty-seven miles Tobacco Prod..... €% 6% 664 6% | Anaconda Copper 6s 1929... 10 8% 1035 Montreal Tong Bwereisolilac briastonth Tobacco Prod pf... 8% 8% 8% B3 | hnre. aeton Sias 1037, Pt B P T i e T et o prillan)cal) Onien TransContlOfl... 7% 1% T 7% )Armour & Co. 43 82" | Bethlehem Steel 7s 18 furs showed the following percent- Union Bag & Papr. €0 60 60 60 |Atchiscn, Topeka and Santa ¥e gen. 5. 8% | Dethlchem Hteel 7 103 LEAD PRICE ADVANCED. ages of {ncrease over the April sales: Union Oil... 18 18 18 18 :fl-nflt Coast Line 7s., - 108 | Bethlehem Steel Ts 1933, . Fisher, 20; stone marten, 15; Ameri 120 18% 119% [Afantlc Refining Co, 6% 183L........ 10113 | Canadian Pacific 8s 1 NEW YORK, September 20.—The|can ermine, 20: baum marten, 6% 6% 4% | Baltimore and Ghie oo, American Smelting and Refining Com- | northern otfer. 20; southern otter. 4( 8 % 8 |Baltimore and Ohlo de pany today advanced the price of lead |y uzirat 30: southern uskrat 50, 0 O etk o 8. W Di. Femm el from 4.60 to 4.65 cents a pound. and blatk muskrat, 10. 15 19 19 |Canadien Norinsen Toim | Copper Exvort 53 Il:: ‘r:::n: .l,n,v“nu“ 5y w% Copper Ex| 15% entral Pacifie 4s 76 Chesapeak io B. F. Goodrich Tu 1925. . :2 :" ::he‘-pe-l: and °8Mo“:,,,_‘?ml ¢ ;}22 Gulf 'Oil Corporation T8 1633, hesapeake and Ohiq conv. Be . 84 |H. J. Heins 7s 1930, 4T% | Chl., Mil.-and 8t. Paul refd. % . 58y { Hocking Vi 88% | Chi.. Mil. and St. Paul conv. 4 g6 | Humble O1 serasngssg;yungsinagegs Vanadium Corp Va-Car Chem. arine 6s. ‘Webber & Heilbr. . - Rapd Transit 1st and ref. 5 Kennecott Copper 7s_i930. Liggett & Myers Frocter & Gambl 8s 1921 e 75 1923 Wells-Fargo Exp. 68 88 | Louisville and Nashville 75 1930, W ectelc T3 103 3 3 it Elect: s 125. Westerndd 2d.... 10k 1% Mimour” Kamaas and Texas it ‘:’/:IW::J;‘“"“““‘ AR ot cific. .. Missour Pac eral 4s. 5 Western Pacpf... 60 60 3‘::” ‘{;:: ‘Fflnnl 7s 1980. 103 lblnEl’l'l'\' BOND CLOSING PRICES. Western Union. ... 8 8 | New York Telomhors el 23is| NEW YORK, September 20.—Liberty &::&:i;lélr‘;:- 8 : ‘flg::: :n'd“ ‘n:::em conv. 794 | bonds closed: 3%s, 87.86; first 45, 89.2( Whee Il T o e ‘8% | Northern Pacific. da. o 198% | second 45, 89.30; first 4%s, §9.28; sec- Wheeling & LEpf 4% WM} W4 M% E:;::;‘,’,_‘;‘,’.""&C-‘fog £ ond 4%s, 89.3¢; third 4%s, 92.94; fourth WhiteOll......... ™% % Pennsylvania R, R. 64 - oy |4%s, 89.54; victory 3%s, 99.12; victory Wickwire Spencer 18 13 18 13 |Pennsrivania 7 of To3o. < 1008 |4, 99,1 Wil Ce S % | Pennsylvania gen. Whrommin M W 4L A e . St. Louls and 8an Francisco 4. weries A, 431 Willys-Ovldpf.... 87 3% 26% 2% (St Louis and San ¥ o Ibiles and others send them to garages. Worthington Pmp. s9% 9K 9% % |St. Louix R?gm.;"vr;'.d’.'.:f'“'f":;‘, B B ert Wortn Star Telegram. High. Low. Last. |Scaboard Alr Line aqr an 1| CallMoney...... &% 4% 4% |Sinclair Comn. OI Corp. 7853 HOURLY SALES OF STOCKS. Soutiern Pacine cone. .. am.... 180 12m....o21e0 | SUCT iy e 4 pam..... 268 100 2p.m....875400 |Union Pacific 1st 4: Union Pacific conv. 4s Union Pacific s 1928, Uniteq States Rubber United States Rubber 7% United States Steel 8. F. Yicuum OIL Corp. 7s 1936 rginia. lina Chemical Wilson & Co. 1st 6s. LIBERTY BONDS AT NEW HIGH LEVELS NEW YORK, Sepember 20.—Among the features in the bond market today were the advance in liberty and the great strength in Mexican government issues, particularly the 5s. These Mexican bonds sold as high as 59, whereas previous to this week the high of the year had been 55. The move- ment was taken to indicate that the long-heralded financial plan of the Mexi- can government, arrived at as the re sult of conferences with American fina clers, was on the point of announce- ment. This plan will involve the resumption of interest payments, which have been suspended since 1914. The liberty group had the largest rise of any day in some time. The 4%s of the third loan made a new high for the Why not call it Americanhood? After all, is it really an ism?—Hous- ton Posta “The Partial Payment House” Stocks We Don’t Recommend Many of them were public favorites during the period of inflation. Even now they seem to have lost none of their year, crossing 93. The market for lib- popularity. "'lf.'- . .$4,303,838.65 ertys had been stimulated by the heavy ol -Siisesazase oversubscription to the $600,000,000 new . . ';n ifyin Treasury notes and the prospect of re- But our advice is: Leave || tifying Results Through lief from all taxes. The flotation of short-term notes at a reduced interest return would, of course, be accepted as distinctly bullish for the government war securities. Belgian bonds were lower, affected by the uncertain position in the exchanges. The 6s of 1925 dropped % of a point, and the $s half a point. Sao Paulo $s were also fractionally down. Japanese issues were firmer, and Chinese Rail- way 58 quite strong. The feature in the traction group was a new high for Hudson and Manhattan income 5s. These bonds continued to work up toward the level at which they would be entitled to sell on the assumption—which seems to be warranted by current earnings—that their full interest is secure. The railway list was irregular, with no important changes. ‘Telephone issues were all strong, fol- lowing the lead of American Telephone and Telegraph stock, which, allowing for the quarterly dividend that came off the price this morning, made @ new hizh for the year. The American Telephone and Tele- graph convertible 6s crossed 101, and the Collateral Trust 58 got up to 8§, as against 873 yesterday. New York them alone. Read our September Market Let- ter if you want to know the reasons why. Smith, Lockhart& Co. ESTABLISHED 1911 Ground Floor, Continental Bldg. Members Baltimore Stock Exchange “Safety, Convenience, Profit” Mention one you want Ask for W. 153 Kardos & B American Bldg. Phone : Calvert 1980 otk Philadelphia _ Chicago BTk Brookiva™" Piesbursn Association Organized 1879 Some people wear out their .ucomo.l { urke Baltimore EQUITABLE Co-Operative Building 41ST YEAR COMPLETED Systematic Savings —Make up your mind to Join the Equi- ‘That is the way to get alead financially. Subscriptions for the 81st Issue of Stock table and save each pay day. Being Recelved “Shares, $2.50 Per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presideat FRANK P. REESIDE. SeeYy. Capital and Surplus $2,000,000.00 DOFS it pay to have the Telephone bonds rose ‘over half a point. Other industrials wcre irregu- rotection unl" - lar. The Steel sinking fund Ss gained P ofbl“ w alf a point, and so did Goodyear Ss. propriated val - Duquense 6s and Mexican Petroleum| { - com 8s were easier, and American Writ- ing Paper 6s, dropped off nearly a point. —_— MONEY AND EXCHANG! NEW YORK, September 20.—Prime mercantile paper, 5%a6. Exchange heavy: sterling 60-day bills and commercial 60-day bills on banks, B Commercial 60-day bills, demand, 3.713%; cables, 3.71%. tinually on your mind, when a SAFE DEPOSIT BOX in our vaults can be rented by the year for Less than Two Cents per day? fSurely your peace of mind would more than offset such RELIABLE INFORMATION —is absolutely essential as. a basis for proper selection of First Trust Notes for investment. There is no place that you can get more re- liable information or surer investments than are offered by our organization. 713 14th St. a class by themselves. comment. The Choice You Must Make If you are looking for the safest form of investment in which to place your funds, you do not have to choose, because First Mortgages have those characteristics which place them in But all first mortgages are not equally safe. Your choice must be in selecting the house through which to purchase them. vou make your choice, our record of fifty-two years without loss to an investor should be significant, and without the need for further Swartzell Rheem& . 727 15% Street NW. FINANCIAL. LOANS ON LIBERTY BONDS Tezistered o et 604 14th St. N. Money to Loan Secured by first deed of trust on real estate Prevailing_interest and commission. Joseph I. Weller 423 Wash. L. & Trust ERNST & ERNST; AUDITS—SYSTEMS | TAX SERVICE > > / P TCIPATIG UNY® \ < 'WATCH THE W;K DISAPPEAR It shows the progress of invest- ment in our company. If you would secure double or tre Mr. Motorist plan, Call on us or write for fuil information, Stock Exchange Security Ought to carry automobile | poration insurance, The uncertainty | “SESCO” i 4 230 Bond Building is too great to take a chance 1400 N , g , w-n;:'n::,";).“(‘:'f" of operating an automobile Main 948 . : High-Class Representation in these days of .congested Wanted ¥ull or Part Time Eugagements. traffic without adequate pro- S 2 S . tection. Better have insur- {| ance and not need it than to !| need it and not have it. B. F. SAUL CO. Automobile Insurance 934 N. Y. Ave. N.W. To get posted on recent activities of stocks— Read this week’s issue INVESTOR & TRADER It is filled with —important news col- leczed from all avail- able sources on many stocks —graphic illustrations of price fluctuations A and —special articles on securities and on market conditions Copy given without obligation. Ask for UU-491 And when BALTIMORE OFFICE 433 Equitable Building ‘clephone: S¢. Paul 8451 -0, ‘Wires GV rect Private New York Chicago Boston Phil Pittsburgh Detroit Baltimere Ci ernment and railroad bonds firm. Francs, demand, 7.01: cables, zou: | a small expenditure. Belgian francs, demand, 6.96; cables, 6.963%. Guilders, demand, 31.47:( §=5Glad to Show You Our| cables, 31.53. Lire, demand, 4. Vault Equipment cables, 4.181.. Marks, demand, 0.92 cables, 0.93%. Grcege, dxe;mand a’.“lu. N . 3 & Sweden, demand, 21.60. Norway. de- h l Lo ormer e auonal davings rus 0. 30.50. Brazilian. demand. 12.62. Mon- treal, 10% per cent discount. Gov-l ‘ 55th Oldest Savings Depository in Washington Time loans firmer; 60 days. 5la 5% per cent; 90 days, 6 months, 5%a ! 6 per cent. Year —_— COTTON MARKETS. NEW cotton market showed _renewed strength early today, with all deliv- eries selling above the 20-cent level and very nearly 2 cents per pound above the low price touched on the reaction of last week. Liverpool was again much better than due, with pri- vate cables reporting an active de- mand from shorts on_ poor crop ac- counts and a continued good spot de- mand. The market here opened firm at an advance of 38 to 52 points on a continuation of yesterday's buying movement. - Futures opened firm; October, 19.85; December, 20.20; January, 20.20; March, 20.00; May, 20.00. NEW ORLEANS, September 20.—A vigorous advance in the price of cot- ton today carried October up to 19.97 cents a pound, the list of active months showing gains of 63 to 73 points at the end of the first hour of the day. Later months were stronger 1 i 3 YORK, September n“el Cor. 15th and New York Ave. than the near. - o o Futures opened steady; ober, W January, 19.95; March, 19.87; May, 19.61. —_— OIL STOCKS. ql““‘{h“‘“:’fl:::d!nd by W. B. Hibbs & Co. % S ; Asked. ‘We will send money for you far beyond the seas, to towns so A e eer, ... xé«?‘ small as to have no banking facilities. Byt_ne;m of Bank ?fi?fi.fi;’fi;“x‘_fg. o. o Post remittances we can send money safely direct to individ- ifl'_‘é:? ‘.',Ip;‘w_'i"g 5 uals or firms throughout Europe. : {"E:: ;}"n"fil tixe e And if you are going to travel, cither in this country or abroad, Gatena-Stgnal Ol C s . w0 let us supply you with Travelers’ Cheques—safe, convenient, Titinols Pipe Line C 13 33 : “P ) Indiana Pipe Line Co. 18 universally accepted. National Transit Ce 241, 2 New York Transport: 144 148 Northern Pipc Line RS . Dennsylvanta tiesican. o 5= 5% 2 Prateie Off ‘and Gas Co, 40 485 3% Compound [nterest = " Paid On Savings 11 % 71 il . ¢« AMERICAN 2 ll SECURITY&TRUST.COMPANY P 15th Street at Pennsylvania Avenue E] PARIS BOURSE DULL. Exchange on London, 52 francs &0 centimes. Five per-cent loan, 81 francs 45 centimes. The dollar was quoted ai 14 francs 13 centimes. Member American Bankers THERE ARE NO BANKS— HOME SAVINGS BRANCHES 7th Street and Massachusetts Avenue, N.W. PARIS, September 20.—Trading was | 7 and H Sereets, < Seventh Street, aull on the bourse today. Throe per Eighth.and H » N.E. 436 5w cent rentes, 56 francs 10 centimes. Association.. = Woolen Trade Looks for Return of $25 Suit BOSTON, Sept 3 —Membefs of the! Boston wool trade are comm: the report from the retail the $10 suit for men de to b very a retur fo the €25 suit wel with 1uch more fuvor It us | that m conneetion with Anticipated That Cost of| ti=ntic Patsage Will D= d Before Next Spring— iors on Travel Ending. Ppassage to Europe n thel AN LOWER RATES. ON TREASURY NOTES P e e ————— S S e = =T { THE NATIONAL CITY /COMPANY e 741 15th St. N.W., Washington. Please send me your Hist of current offerings. eduction * Brings - py; 3 2s ~ Price ¥ Lower Than Peak Qm,g.:so irst @ FACTORY WAGES |~ CUT 135 N AAEAR i and <7 Total Reduction Up-State Since| Jo. —and Interest Rates are following E trend is definitely downward. The press chronicles daily read- justments in. all fields—raw materials, wage scales, freight rates, money rates, commodities. —and interest rates must follow. - It is a well recognized economic fact that interest rates lower in sympathy with a general decline in commodity prices. Yields of from 5%% to 7 or 8% may be had from bonds of high grade if pur- 3 chased at today’s prices. But the time appears to be passing when _ equally secured issues will pay thess attractive rates. = We recommend investment in well- secured bonds; the liberal income from an investment made today should be- come an increasingly valuable asset. Fill in and return the attached coupon. It will bring our Current List of se- curities offering the masimusm income consistent with conservativeinvestment. The National Cit& Company WASHINGTON 741 15th St. N.W. Tel. Main 3176