Evening Star Newspaper, November 7, 1921, Page 19

r _FIN — NEW POTOMAC 75 .. MAKE NEW HIEH Bonds Firmer—Mutual Savings Prosper. BY L A. FLEMING. An advance of % of a point In the sale price of the recent issue of Poto- mac Electric refunding and improve- ment 7s was the principal feature of the day’s business on the local stock ¢ éxchange. This brought the price for the bonds to 102, as compared with 933%, the Issue price at which the bonds were distributed by the pur- chasing syndicate. Other public utility bonds were firmer. Rallway 4s sold at 61%, the genmeral 6s of the same ‘company + brought 94% and Washington Gas b3 ‘were strong at 82. at 49% and 49%. Capital Traction brought 88%. Continental Steady at 100. ¢ The _ typesetters were :gh Mergenthaler stronger at 1a. Bankers’ Association Committees. The officers and the special commit- tees of the American Bankers' Asso- ciation will hold a three-day session here, beginning December 11 next. ‘WiIl Go on Dividend Basis. With January 1 the Liberty Na- tional Bank- will go on a dividend basis. The Initial distribution will be on & 6 per cent basis. This Institu- tion recently celebrated its fourth birthday, having evoluted through the ;alv;ngs bank stage into the national old. 5 Trust shares were neglected, 124 Reduce Interreserve Borrowing. There has been a very large reduc- * tlon In the borrowing between fed- eral reserve regional banks, as shown by the latest statement. Richmond has pald off sufficient loans to bring its borrowing down to $4,200,000, as against $15.000,000 a week ago; Min- neapolls _ lfias " liquidated sufficient “frozen credit" ut a loan of $4.- 365000 ta " $55.000: Dallas wived out $1,200,000, but both Dallas and At- Janta are still heavy borrowers, rep- . Tesenting unliquidated southern cred- Cleveland Federal Reserve Bank f1s the largest lender, $141,; 232.000 of its money carrying credits o e of lts district. Boston has $4 standing and Philadelphia 332 550 000 Mutual Savings Banks, Increase. Mutual savings banks in common with savings institutions generally have been prosperous during the last few years. D. R. Crissinger, controller of the currency, commenting on this fact, has this to say: “Notwithstanding the unfavorable donditions existing throughout the country.. these savings institutions gained both in number of depositors and volume of deposits during the last year. “Of the 623- reporting banks” he continued, “all except twenty-six are located in the New England and east- * ern_ states, and thé deposits in the banki o! thesc two geographical di- unt to nearly 96 per cent of the totsl in" all banks of that class. ‘The deposits in these Institutions upon the date in question amounted Io $5.675,181,000 credited to 9,619,260 sitors, showing an average ‘de- Pfldt aocoount of $579.59. “In June, 1920, deposits in the!a ln stitutions totaled $5,186,845,01 ;number of depositors 9,445, !27 lm‘l deposit, $549.14. sw England states the de- , Dosits in these savings Institutions in- - creased $63,000,000, ‘were in ths banks of Massachusettes; Mmm@of&olnmlsm in the r-nnlnl states, ranging from about $1,400,000 hl New Hampshire to nearly '5 000,000 in Rhode Island. The sit in banks ln this geo- ivision was $500.01. sits In the savings banks in the eastern states increased from §$3,025,- 000 000 to ll?!l 00 increase ‘This ixlcrea-o wau mainly in the banks of the stats of New York, wherein the increase was_$250,000,000. With the exception of New Jersey banks, which lost approximately ' $10,000,000, there ‘was an increase in deposits in the sav- ing banks of each -state In this geo- graphical division. “There is but a limited number of mutual savings banks in other states, | i one in West Virginia and one in Cali- fornia; three in Ohio, five inh Indiana, “seven In Wisconsin, and nine in Minne- sota. It appears that there was a gen- eral increase in deposits of savings ‘banks in the states named, with the ex- ception of a decrease of about $100,000 in the banks in Ohio, and less than $50,000 in the banks of Wisconsin.” —_— FOREIGN EXCHANGE. Selling. choeh—don-r values at noon today. Budapest Prague Warsaw Copenh Christiania Stockholm . ¥ Amsterdam 19 Relgrade 10415 Montreal By the Associated Press. NEW YORK, November 7.—Foreign exchange irregular. Great Britain, demand, 3.93%: cables, 3.94%; sixty-| day bills on banks, 3.90%. France, demand, 7.31; cables, 7.31 Italy, de- Belgium, d Germany, 3315, Holllnd cables, 34.56. Norway, .72.” Sweden, demand, 23.05. Denmark, demand, 18.35. Switzerland, demand, 18.60. Spal demand, 13.58. Greece, demand, 4.20. Argentina, de- mand, 32.50. Brazil, demand, 13.00. Montreal, 92%. NEW LOW FOR MARKS. LONDON, November 7.—The Ger- man mark slumped severely again in ‘the London exchange market today, Teaching the new low record . of 1, nlt% to the pound sterling. YORK, November 7.—German ml.l’kl. for the fourth consecutive day, todly opened at l. new low rec- g at .361 ce: This was decllnu ot 2% polnu from Satur- dnrl low. —_— - CHICAGO LIVE STOCK MARKET. mCAGO November 7. (U. 8. bu- of markets).—Cattle—Receipts, 2]000 head; quality, plain; market generally steady: better grades beef #teers and yearlings strong; cholce yearlings, 11.50; bulk beef steers, 6.0089.50; veal calves, weak to lower. Hogs—Receipts, 47,000 head; mar- ket 10230 lower than urday’s average; better grades off most; big doing _very little; light lights up to 7.90; bulk, Pigs up to 850; bulk de’ d 8.2 fln'p—Rmipu. u no head; kill- ing olasses steady to 25 feed- Washington Gas shares were firm |- of which ’47000000 Fi ANCIAL, 8 5§ Adams Express Alr Reduction | Aja3 Rubber. . Mum Chemical H TR B3saBsase §2° !: ® Am Cotton Ofl pf.. a1 :m g:'u: glsts. % m Hide & Lea pf. sm Am Ice.. > - = I‘l Am International. 35% Am Safety Rasor. Am Ship & Com. 11 PR G P H * & 5%5’“ii!&%ii&%iaz"z!”§!=§1E5!=§§!§i¥'§§ LA LD d5-§233:5"335: 39030 800050y3 Bklyn Rap Tr ctfs. “ Bklyn Union Gas.. 76 Brown Shoe. H ‘!'§"fi:ii‘!§;i!!“*i§§!§§§§!§§zi§§§§’!§; g3 s ¥ §35%3 Wi H ChtRI&P 6%pf.. 68 Chile Copper. Chino Copper. CCC & St Louls. Cons Cigar..... Cons Gasof N Y. Cons Intl Cal Min. §535- 538385500385 50R 050N §25Rpin-geggageynengsg rgayg §25°885-3% 00 0000y -Fgnet = ¥ g g EH L Emerson Brant. Endicott-Johnso! Famous B . lrmmu thu- Pt 1% zgeegiazgys ==l§5i=§=!; Goodrich. .. Great Northern'pt. 2% Great Nor Ore..... Greene-Cananes. . Haskell & Barker. nu Hendee Mfg. .. . W% s;s;'"g;w"m;si"va=:-=~;ii=zsa 5 | e L iFs Hupp Motors. Illinois Central 1:: LEERE H 853 $858528RE2885 g0 Int] Mer Marin: Intl Truck 1st pf.. 68 Intl Truck 24 pf Intl Paper. Intl Paper (sta) Kansas & Gulf Co. Kelly-Spring Tire. :;: 53848 3 3528388520 85:3°5 3055 8558 ==:g§;atgsfing.§§s§ Natl Acme. Natl Cloak & Bfl“- Natl Enameling’ Nevada Colwllh New Or Tex & M. FEEErgE gsErisz.agest b Rl NYNH& Nortolkhwm heavies, very slow; bidding, 8.00 on choice fed lambs. —_— BAR SILVER QUOTATIONS. NEW YORK, November 7.—Foreign 1..|- silver, 67% ; Mexican dollars, 52%. NDON, November 7.—Bar silver, ”Sd per ounce. Money, 2} per cent. Discount rates: Short bills, 3% per cent;" three-month bills, 3 13-16a3% per cent. —_— nmamnmrm' NORFOLK, Neb., November The Farmers State Bank of wm-lh was closed Bad 8555888053 HH Pere Mra prior pf. Phila Company . Phillips-Jones pf... FPhillips Petroleum Plerce-Arrow. Plerce-Arrow pf.. Pierce Oil. Plerce Ol pf..cces 8233 £73 8 8 & !!Ei!!'iiaii“%%‘iii’i"!'#55&2”“ii“’5“’?§§5§i’§§§2‘§‘§’§°’§‘§§§§§§§=§§;§‘§§’§§§§“§§' 8 8 - $Ea59ynaseny LT TR NEW YORK STOCK EXCHANGE Roeelv-d by Private Wire Direct to The Star Office. * Open. H 6% I’i % 8% 8% 18% 69 % u% 13% s 13 Reading 1st p: ‘Reading 2d pt.. Remington Type. . Rep Iron & Steel Royal Du §B= lgfiglkhfl 8t Louls Southwn, 8t Louis Sown pt. . Sax Cop) !hl;lluck.Armn. Shell Trad & Toon. Stnclatr O+ o sRizfnegagee H ..'s;flsr.g: L PR EHH 88 & Unlon Pacifio.. Union Tank Car United All, Unitea ny Steel lsu asu Ry Inv r 5 Unnld R-!l" l’lll U S Food Prod. us g"‘l: Alcohol. ‘«u us Rubber 1stpf. gm s 804 Westhse 1st pf. g:nlllnr &LB 7Y eeling & LE u% u% W‘hltl glol!ol‘. e ' Willys-Ovld pf. 2% ‘Wisconsin Cnntrll 25 Woolworth. . ‘Worthington (B) . Wright Aero... Call Money. LEADS IN CRANBERRIES. BOSTON, November 7—New Jersey this year will wrest honors as the country’s largest cranberry-producing | G state from Massachusetts, the state department of agriculture reports. Armies of fruit s 1921 cranberries, 'adding to damage wrought by spring floods. As a resuit the Bay state’s cranberry crop this year will be nearly 77,000 barrels less than last, while New Jersey is es- timated to hlva the biggest crop in its cranberry history. P S OIL PRICES ADVANCED. TULSA, Okla, November 7.—The Prarle Oil and Gas Company today announced an increase in the price of Oklahoma, Kansas and Texas oils. Oklahoma and Kansas oll was ad- vanced to $2.00 a barrel, while north and central Texas oil went to §2.25. objects of the T Company. Bi% H E2t3382:33030mg0300805 SECURITY~ INTERNATIONAL AND INDIVIDUAL Limitation of Armaments — to promote human welfare by economizing on unnecessary . erty—these purposes have for many years;guided theamvlmohbeAmmunSecumydemt The Conference deals with nations. dividuals who have come to Washington for the ’ Confetemewnvaflthmselmofthe&mpmy‘s SECURITY & TRUST COMPANY 15th Street at Pennsylvania Avenue HOME SAVINGS BRANCHES fimflMwAm,N;W TRAI]ING N lIGHI DILS ARE LE LEADERS| Speculatlon Dull, Even|ng Trades Over Holiday~—Motor Shares Show Improvement. BY STUART P. WEST. _ NEW YORK, November 7—Nothing much was expected from 'S mar- kets in view of the holiday tomorrow, and with another day of suspended business in prospect for next Friday. It was to.be anticipated that the regist: -ton lt’um hi) 1,001 §! age speed was 250_knots o m !h. trip from New York to Sa: cisco there is & saving of '.hlfl-v-two ‘with such a ship as ‘would cost, on the basls Drlu& $38, 000. t t uno\un tn neuly $40,000. WINTER TOURISTS INCREASE. PHILADELPHIA, No"mhor T— CANAL uvnm TO SHIPS. NEW YORK, 'Novembey '7.~~The saving effected by ships using the has more than ‘Justl fled federal ‘hopes, according to- the Shipbuilders’ Association, which sub-. mits & numbe; facts. In pre-war days, it is said, the cost l maintain; freigh! -lon ‘WaS r of ter in com- 10 oen rn.n- in On the basis of ould cost about 35 prices _the _ savings tourist whole effort.of the day.would.be.to wind up as. much_as. possible open speculative positions while initiating fow new ventures All the markets.in which the specu- lative element is prominent were dull, with narrow d . uncertiin price fluctuations. . This of stocks, of cotton and of grain. Bven in the.bond market, where in- vestment operations were predomi- nant, the same sort of hesitancy and disposition to delay were in cvi ‘This was nnunl In view of the vances of 6_and 1'3011“-!. whieh have occurred within the last week. ‘Liberty bonds, some of the foreign government issues and a number of domestic '~ corporation {issmes were higher at the start, but subsequently reacted. Business, while active, was consid- erably less than on the big days of the close of last week. For the first few hours, trading in stocks was al most .featureless. Shares of the home ofl companies had. come down at the opening and quickly rallied on the news of an- other 60-cent advance in crude oil quotations in the midcontinent fleld. There had been a run-up in Mexican Petroleum because the open specula- tive account in its case was mainly on the short sid The general ‘was rather Inclined to sag, but in the early afternoon the market was turned by the heavy buy- ing which appeared in General Motors common, following a further @ctive demand for preferred stock. This promptly brought about b ing orders in Chandler, Stadebaxer and other motor shares and led to hardening of prices in other direc- tions. In the exchange market the notable fact was not so much the’ further break in marks as that this coin- clded with equaily decided strength in the other exchanges. Sterling went up to within a cent and half of its recent high and was within 6 cents of the top of the year, made last winter. Italian lire sold at the highest in a long time, and the upward course of Dutch and Scandinavian rates was likewise very evident. Taking these movements in connectlon with the light shown by the weekly statement of the Reichsbank, it becomes clear that Germany haa been engaged in another heavy buying movement in foreign currencies and extent of its own depreciated money. Note circulation, the axmnllon of which had seemed to be rose nearly a blllion four hundred million rks during the week—the most tremendous emission of paper currency that has yet occurred. Since the early part of June, when prepa- rations for the indemnity payments bagun. the circulation I!em ll (he erman central banl risen ’ll 000, I)M 000 to 91,500,000,000 ml.rku- The ol stocks were the center of what little interest there was in the market oday. he American oils had led the r ent advance. They were the ones which attracted the largest outside fol- iowing and consequently were suj to be in the most vulnerable position of any. Bear traders and bear market letter writers trained their guns upon this group principally end it was for this reason that their action was most significant. Pacific oil was weak at the start and so were California Petroleum and one or two others. - But the prompt- ness with which these llnekl steadied wes a revelation to the rank and file of traders, It showed that there had not been any serious amount of distribu- tion. It showed also eftective support was coming into play at prices which _ represented a . comparatively slight reaction from the best. coming Conference on This Com< companies report. The Steam Packet Comgln! announces re- $5,000 Life Policy, $57.35 blished 1885, M. LE'ROY GOFF, Insurance Adviser CISAVINGS BANK odbviduals desiring & mod ang § s 2 mod- ern banking servics. statement service. 336 N. Y. Ave. uu eoldar ‘weather, gen for I! hl:l Incnued bookings to ‘warmer countries. Bermuda, the West Indies, Mediterranean countries, the Islands and the Holy Land leading attractions, these Royal Mail TIZENS its of firms Montbly The rema.rkable chnnge in years iritervening may. be 6%. In.some instancés: years-ago.: AP suggestyouukforbst iy fifl‘:"‘g m‘»g in Jemuary. nmm of this stock is oontained and. Commodities Review ~—FREE UPON REQUEST. A.A.Housman &Co. " 207 Breed Strest, New York - MATBERS 1 Now York Stock Exchange ‘WASHINGTON OFFICE MAIN FLOOR CORRIDOR WOODWARD BUILDING Telephone Main 2040 CHARLES R. ALLEY, Mgr. LIBERTY BONDS Rl o Goupey. Liberty Bond 4 1th St. N 8% The Full Strength of Our Reputation For Safety Is Behind Our Investments Our 8% First Mortgages possess the same wide margin of safety that has characterized our investments for almost half a century. Safety and prompt ‘payment of principal and m(er- est assured. rvice be- rmuds with aamer Araguaya. week- other In Auanm r o&nrnflnn- !mny ‘:na n -m. money in . Afly lmc\ml tor' ‘Washington 1343 N. I-Av.. . our recent Beourities due. LOANS ON National Capital (Authorised by Act of Congress) estments must be w——FO NDED 1878 = 815 FKiiteenth Street le YOR‘. 1901 2000 Gtyte of New York, Registered 3 "m State of Massachusetta l” o000 City of Boston, Massachusctts, Registered, ;” B2 SRS, A 123,000 Buffalo, Kew York, Registered, 3% 100,000 Chicago, Iiisiels . 4 so,000 Newark, New Jeroey, Water ‘” - . ‘so00 City of New York, 3 ' 30000 State of Louisions, Coupos .o & 300,000 Statesf Registered ___ 3% £23,000 m‘% Reglstered 3,‘ s G B v 300000 Greese , Ohle, Court Houss _ e 45000 Blackhawk Cousty, lewe. Court Houss' | :}f 3 Jomee Seulh Benty Wiscoosias Ao 5, 365 . 3ok00 Jows, a4 School Dist. . e St Josoph, School District 5, o Spciagheld, Taod, D etrcs 3 J”:ag"" . Dasvilie, Iilisols, Refusding Schoot 9 g T SO Lkinols, ¢ s Cowaet Bia,lown, Relentig N e 30,000 Nashville, Tennessso, Retunding 2o 8 125,000 City of Memphis, Tenn., Pusd,Park! 4 100000 Roane Cousty, Teaesess, z 30,000 Bexasr f > 38 Nasenn Sreut: > _ - 1Nnulnld&-mwc) 31 Years 27 Years 13 Years 13 Yoars 210 25 Years S t0 20 Years- . Sto 39 Years 10 Yoars 10 Years 4 1031 Years s Years 10 Years 20 Years 9 to 19 Years 20 Years 2o 10 Years terprises. Stone & Furfu Estate SAFETY —not only a promise, but an established fact when you invest in FIRST TRUST 'NOTES INTEREST % —in your mail the day it is SHANNON & LUCHS 713 14th St—Main 2345 INVEST YOUR SAVINGS IN OUR SAFEGUARDED FIRST MORTGAGES Unusual demands for investment capital to fin-‘nce neces- sary building construction enabled us to get 8% for our clients. ‘The present opportunity to secure safe First Mortmel of this high character will not long endure. NOW is the time to sately invest funds over i ! n your fum -tli - Call 'or send for list of attractive offerings and booklet. i ‘THE F. H. SMITH COMPANY ~FORTY-EIGHT YEARS WITHOUT LOSS TO ANY lN“mE— "Below is o list al manicipel lumd: which we owned . - end - offered - for, sale during the yesr 19015 ubnYun lblohn-l . eam, 7.to 30 Years 14 to 35 Years ~ 30 Years' 28 Years 17 Years 13 to 39 Years 20 Years 3 !nn ‘En- !u‘. '82d Issue of Sioek Shares, $2.50 Per Month 4 Per ConmInterset 915 F St. NW. . JOHN JOY EDSON, Prestbent AN °F, Renaink. Sec'y, Money to Loan People Who Do Their Own Thinking —investigate lecuri!m of-* ‘fered before making any xn- vestment. All sorts of. tunities are offered these to,_the investor. What is to do? Let him get all avail- able information regarding the investment offered and, of equal importance, numnte - the reputation and experience the security before investing. People who'do their own thinking ‘invest in a ' seeurity they know they are absolute- ly safe. In amounts of $250 and up. B. F. SAUL CO. Mortgage Loans 1412 Eye St. N:W. Main 2100 ° 2 - Various 3.08 10656 308 i 310)§ 3.10 11338 3.1 20674 3.1 . 3 318 : fl 320 arions 320 Various © 330 *" Various 330 10654 330 103% 330 Vi 338 103% 338 3 103% 338 104% 338 10854 330 10374 330 .103% 330 " Various « 330 4 103% 330 Various .330, 08 - 348 . 102.34 3o i Various 330 Various :i: 108% - 104 37 103% 3 Various - 380 S 101% 3878 price-and interest return on similar rcpresentauve issues ‘in the twenty S 'seen from the list of municipal bonds we now.offer to yield from 5% to .. these are issued by the same municipalities whose bonds we offered. twenty ~ We shall be fiued to send circulars descnbmg our present. ofiemgs in dztul. =11, . Ho.rru, Forbec & Company 2" Hibbe Building IS Aachington; D: C. arm etk f"':a. m"gu:i 3 Becured by first deed of trust ou real estate. infarest and_commiseien. - eph 1. eiler & W 1. 0 T of the organization offering like our 7% First Mortgage— -