Evening Star Newspaper, September 22, 1921, Page 25

GAS COMPANY HAS EARNED DIVIDEND Made in Eight Months—New York Bank Cuts Dis- count Rate. BY L A. FLEMING. The first eight months of the cal- endar year assure the Washington Gas Light Company one of the best years in the history of the corporation —ons in which the annual dip into the surplus to complete the payment of dividend will not be necessary, but, rather, a goodly sum will be trans ferréd to the surplus, making up for some of the withdrawals in the lean t months’ record demonstrates fact that the annual dividend has been earned, despite the warm winter nd the hot summer months, w carnings in August of but $11,000. For eight months to August’ 31 Eross earnings were less expenses of $2,484,61 net before charges an $867.150.33. From this deduct interest charges and taxes and there remains net cor- porite income of $506,947.82 as a re- 8ult of the eight months operations. It requires $458,000 annually for the dividend, so that this annual distri- bution has been earned and the big vember and December and Dtember and October months taxes of e, president of the cor- has ‘been very optimistic about the outcome of business with the company all year, and the results are confirming his anticipations. New York Bank Cuts Rate. The Federal Reserve Bank of New York City announced a cut in the discount rate on all maturities to 5 per cent. It is expected that Boston and Philadelphia at once meet the cut, but Richmond, head center of the fifth district, being a borrowing bank, cannot give the member barks the same opportunities of rediscount, as it still has to earry cotton and to- bacco loans in suffictent quantities to make the bank borrow from other federal reserve Institutions It is the first ttme since pre-war days that the discount rate in_New York city has been as low as 5 per cent in New York. Commenting on the cut in the rate, Moler, a private wire house corres- pondent, sent the following message to W. B. Hibbs & Co. “It unquestionably means gradu- ally higher prices for ail high-grade bonds and government n Their | prices shouid - work automatically higher from this cheaper money rate, which is soon to be reflected in a broadening investment demand for all such sacurities. “At the same time it is practic a motice to the business throughout thi improved credit position for produ tivity and increased general disiri- bution of goods ana commodities. It also ought » result in an i creased inve demand for standard ailro dividend-payin; stocks whose present dividends are assured a for seasoned in- dustrials rly the preferred issue: Gas Securities Firmer. W s shares and bonds all moved to higher levels at tod; ression of the local stock exchange. but on light trading. Indeed, the vol- ume of busine: decidedly , lidated 5 movement. Capital Traction shares were ste * at 86, while Washington Gas moved up to of est Banking 1ding, betw. of Twining Ci and A. H. Fowle, president of the finance company. 1t is proposed that the prospecti branch will serve residents of Twin- ing City, Randle Highlands, Bradbury Heights, Fast Washington Heights and the territory between Anacostia and Benning. The matter will be given further consideration by Col. M. A. Winte, chairman of the trust company boai Percy S. Foster, its president, ai W. Robertson, treasurer, and dents of ths southeastern’ suburbs. Work for Savings. District_of Columbia Bankers' of the Farme snal Bank, is cf duc! of lectures, ten in |, fn_the simplest English, to be de- red before the *hool children, with a_view of introducing the meth ods of doing a banking busines Showing how money makes money and the possibilitics and certainties of & saving campaign rigidly ad- hered to. —_— CURB STOCKS. Quotations turnished by W. B. Hihbs & Co. ~12:15 p.m.— Bid Asked. Boone Oil . Boston and Tloston and Wroming. Bix Basin Fampire Food Fugineers’ Petroleim. . Fureka Croesus Farrell Coal . Pederal 0il nsiand 0il Gilliland OIl Glen Alden Coal Glenroek Oil . Guftey-Gillespie . Granada Hecla . Hercules Puper ..... Intercontinental Rubber | 7 International Petroleum (o 1 10% Jerome Verde , Ray County Gas. Mugma_Copper : 21 Maracasho Ofl . 13 Mason Valley Midwest Oil_pf Midwest Refining Mountain Producers’ . Nevada Ophir Nipissing Mine Noble Oil and Ga North Amer. P. and P. Northwestern Ol . }4=10- i 2 g H i<} 3 Berocs Hos! ®OF Radio_pfd. Ray Hercules Ryan_Consolidated . Sal: Creek Producing. Salt Creek (new). Sapuloa_com. Simms Petrol Skelly 0il Southern_Coal and Iron! Sweets Co. of America. Swift International .. Tonopsh Divide .. ‘Tonopah_Extension Tnited Eastern V. §. Idght and TPt I 22 FER AR E R R - b e & | Crucible Steel. * 1 Intl Motor Truck. . 6 | Mo Pacific. 6 NYNH & Hart... FINANCIA NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Ofice. 2 Low: Otoser Stand oMl of Cal.. ot oy Stand ONIN I pf... 107 Steel & Tube pf. Adv Rumley. Ajnx Rubber. Alaska Juno. Allir:d Chemie: Alli=d Chem pf. Al)iis Chalmers Studebaker. Superior Oil. Superior Steel. ... Temtor Corn (A). Am Can pf. Am Car & Pay. Texas Am Cotton Oil. Texas & Paciflc... 28 : Texas & P C & Oil. - 18%- L% A% % % ;h:’rd Averue. Am International. obacco Prod. A Tinset v B % 2% | Trana Contl Oi... F75% Am Locomotive. .. 8 Transue & Wilms. 36 Am Loco pf. 104% Union Bag & Papr. 61 Am Safety Razor-.. Union Oil Am Ship & Com. Am Smelting ! Am Smelting pf. Am Steel Fdy. ssgugegs feazgeugag-vs-gaogd & §°35§233%%3 SHIPBUILDING DIVIDEND. CLEVELAND, Ohio, September 22.— 2% stock, and FOREIGN'BONDS.: SOUTHERN: EARNINGS: DEOP: Quotutions futuiabed by W. B HINW & 0% | Grong carningw of:the Southern rail. 4 * 3 - | earnings* under th Closiay priese: way for the second week in Septem- | vailing up to September of last year. Why 3% when German gov. 45.. 9% | ber continue to show a heavy de your money will Gerpan crease from those of last year, th earn 7% for you 0,000, a loss. of $1,- total being. $3,21 083,000, 8.8 compared with the corre- 14 Heiaves Hiok s 11 Nord "L. Bank 48 11 Viennn 48....... 2 this month reflect more accurately than they have heretotore the actual business the carriers are doing. The increase in_ rates’ beosme’ effective about the fimt of September 1ast year, e n i, Gu._o7as | 80ding from 20 to 25 per-cent to their British vic. bs...288 ‘war loan 5s.388 Bu.....386 ' The Management " or write | f Directors of the American Shipbuil 9 for Our Ing Company nave deflcla‘rold% the regu: of Apartmenh Booklet ar quarterly dividend of per cent in cash and an extra dividend of ,,.?,’;,‘,‘;‘:“,‘,‘0‘3('“““ IAteifor g “Owning per cent cash on’ the' common We mre ‘pre- pared 5 e re RIS taaTtaLly to show you how we are able to make such an offer, let- Inspections [ 303 5% % | - o e ‘B . dividénd of 1% per cent cash on pre- | | ting you decids whethor mr mot ::“ 11 | ferréd, both payable November: 1-to our plans assure you of the 12% e apartments 7 iy i K &% 44| stock of record on October 15. return. e e B enE T :: ;;{m& Teleg. 2.‘ " on : == Ask your banker to investi- 1.."«1 inspected. To us, how- €CO . g A post card mailed by a New York gate and advise you. We will 2 1 Ces! A Tobiiee St o et o a ever, it’ is abelutely necessary 1409 N. Y. A m Tol acco (B) U S Smelt & Ref 20 clergyman on May 1. 1901, addressed gladly aceept your business to make regular inspections of . Y. Ave. | Am Woolen L ef n' 0 to a friend in Scotland, has just through any reliable banker or every apartment. We cun then = jAm W ater Wk ; IO a oo l‘g‘ 7% T8%)| reached its destination, broker. i see that the: jsmitor is keeping r W 1st pi i - 3 shape. A Utah Coppe o o o = Stock Exchange Security o DUl N it 2 Vanadium Corp... Sl 3% 4. K Mmey to ban C . tenants —and see that" no Anaconda. Van Raaltelstpf. 764 T 64 0% orporation damage is being done the prop- AtChison. LG c.r‘g:am. 204 29% 29%1gecured by first deed of trust on real estate, 230 Bond Building erty due to leaking down- Atehison pf. esne vt b 1:::' ':‘% Preraiag interest and commiseion. 1400 New York Aveaue spouts, etc. Atlantie CatLina.. se% : S awjJoseph I Weller € L fdt Washington, D. C. Inspections are absolutely Atlantic Gulf. 26% g:fi:flgnl . 0% 0% 2% — B S T necessary if agents desire to Ataatic GuIFt Wella-Fargo Exp. s sre s | B DaLsal clansis Fepresentution render officient ce. Atlantic Petrol. W eaMd . m 1% 1% ERNST Kngements. Auto Sales. ... W ane S i e ERNST & e Baldwin Loco. Whtts Hosmon- | v w0 wi— ||| B F. SAUL CO Balto & Ohlo Whito ator %% % x| ¥ AUDITS—SYSTEMS casy to ro- 3 ! d Bulto & Onlopt- Wickowite Spencer. 1on. . 1. 1% 3 2 ell Property’ t Beth Steel (B) Managemen! Beligtea o Wilys-Overland.. & & & & TAX SERVICE Phrtlal, pags . Booth Fisheries. - orthington Pmp. 0 0 0 @ ment plan 934 N. Y. Ave. N.W. s e me. v 1o | Washington Office i i Bklyn Rap Trctfs. 6% Call e on Term. mh b MUNSEY Bioc. HOURLY SALES OF STOCKS. 12m..... 249 1009 Burns Bros Butte Copper. California Pekg Calumet & Ariz. Canadian Pacific. . Case Plow Works. Central Leather. Cent RROfNJ. Cerro de Pasc Chandler Motor. 176 200 Air Rednction Co., q Cosden Co., q, 62%e *Cosden q, 12% Cons. Royalty 3% Consumers Pow. ptd, g, $1.50. 3ept { Chi Great W pf. ... Coneumers Fow. pf Sel Chi Mil & St Paul. . 3 Chi Pneu TD\):.H % ? x Chi R I & Pacific. 1ding Co. ptd, q. 50c. R ChiR &Y 6%Dpf.. €6 6 | eSO ana Tet. o, id. ChiR1&P 7% pt.. % i ! Chile Copper Chino Copper. Cluett P Coca-Cola. Colo Fuel Colo & So ee Trambuil Steel p st . West. Pa. Power ptd. g, $1.76.0ct. 15 Nov. Wiunsboro Mills, q. 82/, pt. 26 Oct. Winnsboro Mills pfd, q, $1.75.8ept. 26 Oct. “$5 par val Cons Distributors. Cons Gasof NY. Cons Textile. Cont Can. Corn Products. Products pf. . 108% Quotations furnished by W. B. Hibbs & Co. Prices at noon: Anglo-American Oil Co. (new). Rorne-Scrymser Co. Ruckeye Pipe Line 'Co. Cheseborough Mfg. Co. Grescent Pipe Line Cumberiand Pip: Line. : 2 ne . Canesngarss Gatena-Shyeal O Co. " vom. Cuba Cane Su pf Galena Sigual Ol Co. pfd. Del & Hudson. linois Fipe Del Lack & Wstn..107% 5 Dome Mines merson Brant.... erson-Brant pf. 2 Endicott-Johnson. 63% ban-Am Sug: Northern Pipe Li Ohio 0il Co. Pennsylvania-Mexican Fuel Prairie Oil and Gas Co. Prairie Pipe Line Ce Rolar Refining. Gouthern Pipe L South Penn. Ol Co. h Pe: Fa8Eisix mous Players... 52 Players pt 75 &Spf.. 2% Fisk Rubber. Freeport Texas, Gen Asphait. Gen Asphalt pf. Gen Electric. §38aus FF FOREIGN EXCHANGE. Gen Motors. Quotations furirished by W. B. Hibbs & Cs. Goodrich Selling checks—Dollar values at noon teday: Granby Consol 274 Great Northern pf. 15 Gulf States Steel.. Hartman Corp. Haskell & Barker. | Homestake Houston Oil. Hupp Motors. Tilinois Central. Indiahoma. Inspiration Interboro Metro. interboro Met pf Tatl Agr Chem. | Int1 Harveste Intl Harvester pf. 101% | Iuti Mer Marine pf 4% CITIES SERVICE SECURITIES Bought, Sold, Quoted Investment Securitics 510-11 Evans Building Washington, D. C. ™ €189 Intl Nickel. Intl Paper. Invincible Of Island Oil Jewel Tea. Kansas City So Kelly-Spring Tire. Kelsey Wheel pf Kennecott. .. Keystone Tirt Lackawanna Steel Lee Tire & Rubber Lehigh Valley. Lima Locomotive. Liggett & Myers. Lima Loco pf Loews Inc. Loft Inc Lorillard. Mackay Cos LIBERTY BONDS bt and Sold. executed quickly Manhattan Elev Market St Ry. and accurately Marland Oil. 1 e May Dept Stores Hexican Pete. i ! Midldle States Ofl. 1% s | An easy-to-read booklet Midvale Steel. 25! B i s % Minn & StL (0)... 9% ; i explains other important Minn StP & SSM. 1‘}!: { features of our unexcelled Mo Kan & Tex. * 5 Mo Kan & Tex pf.. 2% brokerage service. Ask for UU-492 e B S— ONES & BAKER anl:en NewYork Curb Market t Privi New York Chicago Mo Pacific pf Natl Biscuit. Vatl Cloak & Spf. 48% vatl Conduit 1 ) Boston_ Philadeiphia | Pusburgh Detroit Baiumore Cleveland N Y Ont & West. Norfolk Southern. orth America. ... North America pf. Northern Pacific L Oklahcma Prod. Orpheum Circuit. Otis Elevator Pac Development. * Pacific Oil. Pan-Am Pete “The Partial Payment House™ Stocks We Don’t Recommend Many of them weré Ipubh'c favorites during the period of inflation. Even now they seem to have lost none-of their popularity. Penn Seabd Steel. . People’s Gas. Pere Marquette. Phila Company . Phillips Petroleum Plerce-Arrow. Pierce-Arrow pf. Pierce Oil... Pierce Oil pf. Pressed Steel Car. Pressed Stl Car pf. Pullman Co. . . Punta Alegre Sug. Pure Oil...... 24 Railway Stl Spr. Ray Con Copper... Reading But our advice is: Leave them alone. Read our Reading P! Replogle Steel.... . September Market Let- Rep Iron & Steel i Rob Motor Track ter if you want to know the reasons why. Smith, Lockhart & Co. St Joseph Lead. ESTAHLISHED 1911 StL & San Fran. .. Ground Floot, Continental Bldg. St Louis Southwn. St Louis Sown pf. Saxon Motors Seaboard Air Seaboard A L pf. Sears Roebuck. Seneca Copper. Shattuck-Arizon; e it “Safety, Convenience, Profi™" Reom 915 EQUITABLE el Association Orianizea 1870 41ST YEAR COMPLETED Columbia National Bank ot 911 F Street ~ Seven We Offer You Service —whiclh is based not only on Foreign complete facilities and ample re- ¢ sources, but on day-to-day fa- - Draftsand miliarity with local business i conditions. Letters ¢ Eetabli'sh your credit at “Co- ds¢ lumbia National” so your busi- of Creds ness can benefit by our service . and co-operation. 3% —Make up your mind to Join the Equi- tal d save each pay duy. Thet i Eet ahetd finuneinly. Exc]lamw Bought and Sold Shares, $2.50 Per Month 4 Per Cemt Intevest EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSON, Presidemt FRANK P. REESIDE. Seec’y, Compound Interest Paid on Savings, You can open a Savings Account at this convenient Bank with as little as “For Those Who Read for Profit”’ TIIE late Charles H. Dow, founder of The Wall Street Journal, who instituted the well known Dew, -Jones averages, in his editorial writings in the first years of the present century laid down a theory as to the fluctuations of the market which, if intelligently studied and interpreted, furnishes a surprisingly accurate indica- tion of the major swings of the market. For the last 20 years it has been the lot of Mr. William Peter Hamilton, the editor of The Wall Street Journal, to discuss the price movement_on the basis of Dow’s theory in the columns of that publication. Mr. Hamilton' is to contribute a series of articles through the autumn entitled “The Stock Market Barometer.” which will ap- pear exclisively:in’ BARRON’S. The first article’ will appear on Monday, September 26. . A year ago stocks, after a prolonged decline, looked low; vet to- day last year’s prices in most cases look almost ridiculously high. A year from now what will be the situation? Mr. Hamilton’s ar- ticles may help you in forming a. definite opinion. One Dollar will bring you the mext six issues of BARRON'S. Not te send for them is to neglect some extremely valuabie information at an insignificant cost. BARRON’S The New National Financial Weekly AT PRINCIPAL NEWS-STANDS—20c Editorial and Business Offices 44 Broad $t. New York. - You Must Weigh the Evidence on all classes of investments, your decision will be that First Mortgages head the list for safety. Baut the evidence is still incomplete umless you determine through which house to purchase them. Will you select & house whose experience in this line ig short, and whe handles mortgages as a side line, or will you consider the significance of our record of fifty-two years of specialization in this investment field? - ;and you will en- 118 | sponding week. Reports of gross for oy ings in our and secure no Call, Phone | Only the safes ment, but the most profitable as well. of $100 and up. First Mortgage Investments h-mun-nmnnnmnuni | ah'onal ank: Safety. vest your sav- Mom rtgage Notes t cause o t orm of invest- ERABTREEERE NN EVE I FNRARNEAEN! In denominations curities. Main 98 2| patrons. connection OLDES When You Enter The Second National Bank i You find that, contrary to the usual rule, the offi- g cers are as accessible to patrons as the receiving tellers. : You discover, further, that it takes but a short time to become well acquainted and that your problems receive interested and careful consideration. This is just another angle of the “human element” so prominent in “Second National” Service. The Second National Bank “The Bank of Utmost Service” 509 Seventh Street, N.W. —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. b I g HE appearance of yosmr office has untold influence on the mental attitude your cus- tomer holds toward you. When he-enters your office a favorable impression created by its attractive appearance may mean a big order for yow that might have been lost had the effect beers less pleasing. The N. M. Minnix Company will be giad to help you equip your office so that it will reflect the chara dignity of your E cter d establishment. OFFICE FURNITURE —found where business succeeds 712 13th St. N.\W. Main 1086 A.B.C. of FOREIGN EXCHANGE and FOREIGN BONDS Write for our Booklet H-H, which exrh ns in detail the present deciine and containsinformation of VITAL IMPORTANCE to holders of Foreign Se- —MAILED FREE— H. & B. WOLF & COMPANY - 1329 WALNUT STREET PHILADELPHIA, PENNA. Satisfied Deposit {Not a few of this bank’s present depositors represent the second and third generation of” original 9 Could anything speak stronger in behalf of the advantages of a with Washington’s T National Bank? fLet us begin serving you now. 9o Paid on Savings Metropolitan Bank Capital, Sarplus & Undivided Profits Over $1,500,000 15th St., Opposite U. S. Treasury—107 Years Old RELIABLE INFORMATION