Evening Star Newspaper, November 26, 1921, Page 16

THE EVENING STAR, WASHINGTON, ANNUAL INVENTORY TAKING PARTIALLY SLOWS UP BUYING 9 NEW MOUNT PLEASANT HOMES -, Even if you do not wish to buy a house, go out and inspect 1708 KENYON STREET N.W. The location is ideal and the price, $13,750, is fully $1,000 below that asked for other houses of equal value. of Sales Loss Rather Than Stock Up. Lower Money Rate Also Factor. edly will materially assist industrial revival and go far toward speeding up the return to normal prosperity. Christmas Buying. Christmas buying by the public has exceeded expectations in many sec- tions of the country so far, and Is increasing steadily in volume. The demand is there and the totai amount of money expended in many citles is fully equal to the records of other years, but the demand is a sensible one for necessities rather than luxu- rles and for useful gifts rather than for extravagances. A large part of this trade is finding_expression in the purchase of clothing and wearing ap- parel. In jewelry, although some dia monds are being sold over the coun- ter, the demand is for the lower priced %00ds, with silver-plated ware coming in for a good deal of attention. Grain is_still being held in many sections of the country. Farmers in some. instances are waiting for re- duced freight rates to go into effect before shipping and the grain held for higher prices is piling up to such an extent that the vessels on the great lakes chartered for storage have increased their rates. Thanksgiving did not serve to bring turkey raisers and consumers much nearer together. The consumers are holding off in the hope that prices will be lower for Christinas and rais- ers of birds are holding off in the hope that they will be higher. Paper Industry Improves. The paper industry is rapidly com- ing back to normal, with many of the big plants working around 70 per cent of capacity. Furniture makers are continuing be rushed to com- plete orders, and a decidedly better demand is in evidence for plate glass. Business in chemicals and drugs shows active ns of revival, with Special Dispatch to The Star. NEW YORK, November 26.—The specter of inventorles is stalking the merchants, business men and manu- facturers of the country. Stocks kave declined appreciably, but re- tailers are loath to refill their shelves Just before the annual inventory- taking, preferring to run the risk of losing sales rather than to finclude additional supplies of goods in their inventories. Manufacturers are tak- ing a similar stand remarding the purchase of raw materials. This has slowed up buying to a certain ex- tent, as business dispatches received within the last twenty-four hours show: However, it has also added to the probability of easier money rates and a rush of buying slightly after the first of the year. Merchants who have turned 'their stocks into cash are mot putting their /money back into goods at present, but are mak- ing temporary investments in short- time securities. They will buy the goods eventually, as the shelves are bare in many ‘instances, and it is probable that they will bly in larg- er quantities than usual when they finally send in their orders. In the meantime much of the merchants' capital has found its way into short- time commercial paper. Interest rates on time loans are gradually softening, and wel posted financiers predict & flood of cheap money to lending purposes shortly after Jan- uary 15, on’ which date many inter- est payments fall due. Bankers predict that time loans will go as low as 4 per cent, with call money down below 3 per cent, and plenty of either available. This in- flux of funds into industry undoubt- 2 baths Large lot 8 rooms Heated garage Open Day and Night Take Mt. Pleasant car to Kenyon street and walk one-half square west. For sale by ANY BROKER or H. A. Thrift, Owner Union Trust Building T i s %mmmmmmmmmmmmmnmmmmmmmmmmnmmmmnnmmmnmm [ 215 to 1223 KENYON ST. Wm. H. Lanham St e E. Lodge Hill tate COLUMBIA HEIGHTS N.W. = R HOUSE TO PAY FOR ITSELF FQOU CAN EASILY RENT 2ND FLOOR FOR LANHAM & HILL Insurance ENOUGH TO MAKE MONTHLY PAYMENTS : L APARTMENT HOUSES Splendid Investments $275,000 Rents $36,000 Cash Required, $100,000 $165,000 Rents $24,720 Cash required, $25,000 Contalns 43 apartments; 7-story, fireproof, con- fireproof construction; very tains 53 apartments, 2 to 6 cheap, little over 6 times rooms each, all outside annual rental. rooms. Excellent buy. $85,000 Rents over $12,000 $85,000, Rents $11,000 Large Lots, 20 by 150, to 15-Foot Alley | $50,000 1s¢ Trust, Terms Easy Terms Natie s e pmat TeRtly ooatel hean car 8 ROOMS—ATTIC s coRiARE 36 ADArty line in central northwest. Take 14th Street Cars to Kenyon Street and Walk East 1/, Squares Plenty Room for Garages, Gardens and Flowers H. R. HOWENSTEIN CO. 1314 F STREET NORTHWEST TODAY Real Estate LANHAM & HILL 1400 H Street N.W. - TODAY Main 366 TODAY - At ARCADE, 14th Street and Park Road N.W. - 200 BEAUTIFUL BUILDING LOTS t MARIETTA PARK will be thrown on the market and sold at your own price, at ABSOLUTE AUCTION SALE This Afternoon at 2:30 and This Evening at 7:30 In All Sections of Washington North, East, South and West, and in locations not so attractive as Mari- etta Park, land is selling from 25c to 50c a square foot. At this sale you can buy < Marietta Park Lots at Your Own Price Mr. Builder Mr. Homeseeker Mr. Speculator HERE IS A RARE OPPORTUNITY This property is in the beautiful northwest section, in direct line of Washington’s greatest growth. It has transit facilities. It is in the District of Columbia and all city conveniences are available. It has the free service of fire, health, police and school departments. To view property take Takoma car on 14th street or Penna. avenue and get off at Kennedy and 5th streets, or get off at Ogle- thorpe and 3rd streets. 406, 1406 G St. N.W. Telephone Main 4535 Many Merchants Prefer to Take Risk D. C, SATURDAY, NOVEMBER 26, 1921." prices firm and advancing in many lines. Manufacturers of knitted goods usy keepipg up with demand, and some plants have been forced to put on night shifts. New oil fields in Texas and Louls- lana are witnessing renewed excite- ment with active drilling operations and a keen demand for crude oil. Al- though the demand for lumber has slackened perceptibly because winter weather in some sections has halted building operations, prices are well maintained and some mills are run- ning on a schedule which will give them some stock in hand when the spring rush comes. ‘The advance in demand and price of copper is not hurried, but it is not being checked and is following the reduction of surplus stocks. Its trend is so evident that many mines are ylrel)nrlng to resume active produc- tion. Commodity Reports From Various Sections Automobiles. DETROIT, November 26 (Special).— Retallers are holding auction sales to clean house in préparation for next year's business in motor cars. Older cars are going at bargain prices, with 1818 Ford touring cars selling at $50 to $100 and Packard twin-sixes three or four years old in good condi- tion going for $600. Factories are busy getting new models ready for the New York automobile show, and a considerable part of the present pro- duction is being warehoused spring sales. Poultry. ST. LOUIS, November 26 (Special).— It is estimated that the special Thanksgiving trade was only about 60 per cent as large as last year. Turkeys sold at 50 cents a pound, as against 53 last year. Geese brought 38 cents, or four cents more than in 920. Ducks were 3 cents a pound gher this year, as were chickens, yet few families bought turkeys. Clothing. NEW ORLEANS, November 26 (Spe- cial).—Only bargain sales of unusual character are attracting buyers the clothing fleld because of the un- usual stretch of warm weather. Leather. PHILADELPHIA, November 26 (Spe- cial).—Hemlock sole leather is good demand in this market, the larger orders being placed by manu- facturers of miners’ shoe Ment: KANSAS CITY, November 26 (. ) Employes ' of Swift king plants here cepted a reduction in wages of 7% cents an hour for unskilled labor an Spe- C have ac. 8 cents for pleceworkers. Workers at other plants are expected to accept similar reduction o€ SEATTLE, November 26 (Special).— Retalil shoe dealers complain of con- tinued dull business here. The public avoiding high-priced goods. A na tionally advertised brand of men's shoes which sold three months ag $12 a pair is now offered here at $5. Chemicals. CLEVELAND, November 26 (Spe- cial).—The Grasselli Chemical Com- pany here reports an increase business every month this year from January to ‘October. The business, officials of the company say, reached its peak in_ October and since then has fallen off slight Machinery. NEW YORK, November 26 (Special). —The Keystone Driller Company has just shipped ten complete water well drilling machines to the of public works of Mexico. totaled more than $50,000. Note: department The order tle donated by a large cattle raiser in an effort to determine just what it costs to prepare meat on the hoof for sale to the ultimate consumer, Many charges have been made here that middlemen are growing exorbitant profits from the public. CLEVELAND, November 26 (Special). —Considerable grain is being moved i the lake region and storage space is at | a premium. A large number of lake vessels have been chartered for grain storage with the ending of the ore move- ment for the vear and rates on storage in such craft have increased 6 cents a bushel. e — NEW YORK BANK STATEMENT. NEW YORK, November 26.—The actual condition of clearing house banks and trust companies for the week (five days) shows that they hold $14,536,410 reserve in excess of legal requirements. This is e decrease of $15,053,560 from last week. A. C. H. Small Home at a Only veniences ; hardwood floor and R 1405 Eye St. Members of the Washin Open and Lighted at Night. glass-inclosed sleeping porch been incorporated in these w 1 h a ft & s d d o ; v 1 KANSAS CITY, November 26 (Spe- cial).—Mayor Cowgill of Kansas City Is preparing to butcher fifty head of cat- LAST BUT NOT LEAST On Convenient Terms Fourth and Upshur Six rooms and bath on lot 20 feet wide by 120 feet deep; concrete front porch, double back porches; many unusual con- Eight rooms and two tiled bath: garage. Every known improvement and convenienc 0mes. K."HARTUNG ing, directly across from the future ' home. | » It was decided to hold meetings of ' the board of directors the second Fri- =t day evening of each month at 7:30 o'clock. The policy of the company, it was arnounced, will be to fight shy of ns” and to use the money L] in loans for furthering county betterment. Potomac Refunding 7¢ 104. Y 5 - . | The wild activity and higher prices | . : ; Capital Is Subscribed and Di- | or bons, attending tne 1ow rates ror (Rails Lead in Broad, Active § money, was speedily reflected in the > rectors and Officers Are | Washington bond merket. especiaily Market—High Levels {‘r‘. lh; 3 per cE}n relruad!n‘ bond; of e otomac lectric Company. es8- Chosen by Bank. terday these bonds opened at 102% Are Reached. nd closed better than 103. X il The new Clarendon Trust Company| This morning they opened at 103%, BY STUART P. WEST. will open its doors for business about ";;‘:c:"gg ;;l:.rrl:,-e‘g"'lv‘lln:‘lw‘;g‘li; NEW YORK, November 26—To- December#5. This announcement was | 104, with day's two-hour session was a cor this price bid and 104% made at a called meeting marked |asked. tinuation of yesterday's market. T by harmony and enthusiasm of the G:";E,';D;’el;lanfil-"&er_ebgm hnttlg;g- great factor was the demand for in- stockholders, about three hundre Railwa; e vestment purposes and this swelled khold bout three hundred in y'48 strong at 61% te 62 number, and directors at Ives Hall,| Trading in stocks wms confined to|bond transactions to another enoi- Clarendon, last night, at which all f»tll‘}aw‘;y common at 35 and preferred [ mous total, with new high prices gen- important features in connection with 2 =7 Banking T effecting a permanent organization| ppo Pr:m‘::';;m“:"’c'o“m“.: c“;r_ The same force made itself feli were acted upon. ganizers of the Banking ool ana |10 t:e ;l‘o'cbl; market in u further T Following announcement that the| Mortgage Company, announce the re- |0t ‘11 Spyerermcd " 1oie o, jeapital stock of $100,000 par value|premEnt of Col M. A Winter from icommon stocks of thi and a surplus of $25,000 had been sub- |and give the personnel of the mew |1iShed industrials, wi scribed, the stockholders, the first|institution as follow. the recent advs jbody to meet, proceeded to the elec-| percy S. Foster, president: George | W, 18 high in com tion of a permanent board of direc-|B. Fraser, vice president; William ot |¥ield in the more stric tors. Kyle, secretary, and H. W. Robert- | 1Uarters. tor Personnel of Board. son treasurer. i D the dags oF tucs ot e j o c P obie The personnel of the board, which con- |, The position of e el eihe |of attention were American Teliphon sists of leading business and professional | 1o Col. Winter, has mnot been filed |27 Telegraph, American Tobacco, men of the county, and also includes|as yet but announcement will be|American Car and Foundry. prominent men of East Falls Church, | made in the near future. Srothens Conl ann Drited B A ;i v George B. Fraser was formerly |these stocks were very stro Alexandria and Washington, D. C., is vice president, secretary and acting Pacific and Canadian F treasurer of the Munsey Trust Com- |S¢ntative 10 per cemt pany and is at present financial sec- |llkewise bought becau; retary to E. B, McLean. tractiveness of the Dudley Wiiliam H. Kyle, late major in the |They wcre the le widdie, Alexandria, Va. United States Army, formerly was|Way Eroup. wick, East Falls Churc vice president and cashier of the Na- Low-Priced Rails Soft. Goodman, Washinggon, , tional City Bank of Memphis. R e 1t ok temotby Gilbert, Clarendon; 1 Herzog, Wash-| W. H. Robertson has had a large T e ington, D. C.; Ashton C. Jones, Claren- | experience with Washington banks. |Shares of the weaker roads were mal don; C. T. Jesse, Clarendon; L. Morgan | James Duvall, now with the Mer- |ing no response 1o speak of to tl 2 Johnson, Arlington; Peter Latterner,|chants’ Bank, and Frank Gerraci|y. d swing g - in| Clarendon: Frank Lyon, Lyonhurst:!will be tellers. John O. Crowley, | "iih SWing in the standard issue Dr. J. E. Mitchell, Washington, D. C.;|formerly auditor of the Seaboard Air | : ewise there was much hes C. Lamond, Alexandria; Frank J.|Line, will be manager of the Wood- |\7 the 1urely Massey, Clarendon; H. O. McLean,|rich branch. the list. Here arendon; A. C. McMillen, Clarendon: | C. G. Randall, formerly with A. B.|TSgular, vet were vl John W. Rogers, Ballston; Dr. Fran-|Leach & Co. will have charge |3 UP by the great s in |¢is J. Ready, Clarendon: A. of the stock and bond department | VERiment group. 4 burg, Clarendon; Dr. Frank and Robert H. McNeill has been | French Clarendon; Dr. R. E chosen counsel. which, how ons, ell, Clarendon;| " The capital stock, $1.000,000, will |anything more t Charles R."Taslor, Clarendan; W. O |be aietribated among 1,500 Washing. |Who had been L \pn Herbu! Clarendon; Dr. W. C.|ton business men. week were covering Wellburn, Baliston; Harry A, Fellows. | Organization meeting will be held foubless try, East pa Is Church; Dr. H. P. Hamill,| next week, at which time the opening slightly higher._, Worth Waunyai, Lester van Middles- | date, probably December 12, will be Rails Still Lead. Manning, Clareston: Dro, & HOmas | anncunced. Railway shares took the lead arengoy Clarendon; Dr. E. R. Hagan, | “The work on the bullding, 1409 H . ‘l?.""“"' and Amos Crounce, Claren- | gtreet northwest, is nearly finished, |!? the market today, feeling t h i e v - {fect of the same investment buyi The hope that the new organization | may “Bacoemian o OVer 10 the com- | oo O i saeh welume. + g i o Successful - was The company intends to operate|Unien Pacific ot up o 130, shere Y i g densy P. Hamil, pre- | ynder its Arizona charter, until such | still returns 1% per cent and v siding elder of the Methodist Epis- | time as the capital stock is all paid | 8 % ng W et narch South, of Alexandria|up, when it will take out a District ety onsned o meeting of the | charter, the par value of the stock, nomince for chaimpan of the peuly | $20 a share. being practically the only |moves with Union because s 1y ,,me;m‘(;e hoard | bar to a charter at this time. the same dividend, was the 5. |following which the permanent offy. Reaerve Mank Souttlon. 1o understood that a large blod sen, the names submitted | The total earning assets of the fed-{ 118 understood thas @ Frer b oo 4l nominating committee, | eral reserve system, November 23.|7 SR RIS I, O ide . Boyer, chairman, having | 1921, were $1475,887,000 as compared [!n& the 1ast few das® Tor “USIve TO received the unanimous indorsement | with $3,303,717,000 November 26 a i X ‘c Aan) B o |Of the meeting. year ago, when the system was func- | B¢ Stock cross 80, ol Election of Officers. ll‘onlhng at a mu(‘_l\ greater rate than ment purchases were D 3 Dr. Frank T. Stone, president; C. C.|federal reserve note lability com- |ShH Dacifie, New Fork Lamond and Peter Latterner, vice|Dbined is 72.3 per cent, as against 44.4 | 1 200 5 " 00y presidedts; Marshall L. Dinwiddle, | Bf¥ Sont @ vear ago. while the ratio | heir dividends, secretary-treasurer; Charles T. Jesse, | notes in circulation, after setting |5, Pl Cent Is beins cd giu‘?crxftecz‘;?m L and Amos Crounce, | aside 35 per cent deposit liabilities, is eir appropriate s sel. 99.3 = .5 Taend ba Eloction of the executive committee | weell . " &5 38ainst 985 last mong fhe. Don v aud o ; R. Bover, New York Central Earning ferred, the St. Louis and Sa . 7. Stone| For the month of October the gross | ciscos and the St. L"‘J"‘f bt and M. L. Dinwiddle. earnings of the New York Central|ern, particularly the preferred stockt 1t is #aid that there are a few minor | decreased $10,026,393, while the net The Burlington Dividend. details yet to be cleared away before | Was made to show $88,463 increase. Foi thé last wesk or ten t{m nev'/mlnxli(}:llion can begin to func- e e ey gossip began to be heard reg: tion. he charter of incorporation . special dividend on Burlington stock was approved by the state corpora- Washlngton Stock Exchange 0 help out the Northern Pacific and tion commission In October, but be- frtads the Great Northern, the rcports have fore it becomes effective certification | Washington Railway and Electric 4s—$1,000 | been that the Burlington would pay will have to be made to the capital|at 61%. $1.000 at either $10 or §15. Now, with North stock 'Aand zhehllms nlmuwckhorld:ra g iomia Electric g m. and ret. 76 (w. 1)— | Pacific strong and movini Bigher and officers. e certificate of in- | 2 . o t i) are talking of either corporation also will have to be pub- | 1033, $L.00 at 108% 51,000 athind T b fftcen-dotiar or twent Mshed two weeks in the county pa-|" washington Railway and Electric com.—25)|dend from the Burling T. {at 35. Burlington is Mflf Yy d X dividend at any of the Herbulis, Dr. R. N. Sutton and W. R.| Washington GA‘-;I{‘B oo st 108%, tioned, because it has somc Boyer. Metropolitan R. R. 55—$1,000 at 92! $34,000,000 in cash and A discussion arose over the by.| Washington Railway and Electric securities in its treasur laws, but they were finally adopted |at 62 500 at @ also call on the Coloradé & as presented by the special commit- |, “SIMNFOY GIAIVAY, Sad Electrie pfd—S|7, injs connection it is rer tee, of which C. R. Taylor was chair- ' 3 2 the Colorado & Southern dividend may man. BONDS. as high as $6. be & Building to Be Erected. Bid and Asked Prices. AT o SRR iLhe mew compsuy Is wWorkiss on FUBLID UADARY. . ki FOREIGN EXCHANGE. . plans for a modern bank building to E T s ; eace o0 Do erected on the site of the present | American Tof. sod Toln, $3s.. 5% oo™ | Selliag checks—dollar values at clote todd Clarendon Station building, but until | Am. Tel. and Tel. ctl. tr. 1% 928 - al‘fl_..~lhldl(‘?~l - . this is ready the first business will { Am. Tel. and Tel. conv. 1 4 be transacted in temporary quarters |Anacostia and Potomac Ss. in the Arlington electric light build- § An4ceatly and, Folo d rbas » 1 P Potomac Electric Light Potomac Electric_cons. 5 t clated Press. Potomac Elec. Power 6s. NEW YORK, .\u\'rmhu: Potomnc Elec. Power g. m. O8.. eign exchange, irregular. Gre Potomac Elec. Pow. and ref. Ts. ain—Demand, 3.99%; cable Wb, ler ixty-day bills on o . France—Demand, 6.94%; price sure to interest you w ) Ttaly—Demand, ¥ Wash, Rwy. Belgium—De: | 6.521% $9 750 1C Germany—Demand, 34 ’ Holland—Demand, 35.60 'Market 5 Norway—Demand, 14.. Sweden—Dg- 54 mand, 23.50. Denmark—Demand, 18.4 WM Switzerland—Demand, 19.00. Spai Demand, 13.88. Greece—Demand, .04 Argentina—Demand, lf)flélkllruz:l— Demand, 13.12. Montreal, . (S. E Corner gl e Fasulagloe s COTTON MARKETS. Bwy. NEW YORK, November 26.—Thetp hardwood finish. Elec. pte was further ‘scattering_liquidation the cotton market at the opening to- day and first prices were 2 to 12 Open ‘All Day Sunday points lower, with January selling of to 17.75 or just 50 points below the recent high level. Offerings were com F: paratively ligh and the Z. 1 | market wi ute;dle;i by S ] %% decline, with prices showing ral- G Hex of several points from the lowest B Futures opened barely stead Becond gton Real Estate Board d Trust 17.65; 3 - Yt cotton auiet; middling, 18.00 Spot cotton quiet; m ng, 18.00, o Lhquidation becime more activ the middle of the morning. SAVINGS BANK. fi‘.’é‘&’f to disappointment over the i T fallure of week end reviews to show { Merch. 7 an improvement in the demand for ings’ 202 goods, expectations of a falling .cft 150 in exports and complaints of a r\)t Union Bavia us ot demand. January sold off to o 2 d and the market closed easy af 2 decline of 25 to 37 points. xs. NS, November 26.—An Ame 65 NEW ORLEANS, November 26.—A; irregular and nervous market prevail ! H in the early trading in cotton toda l| | Firemen's 18 mainly because of the appearance of 4 | ki few notices probably representing r‘*.’yu more X les, all tol pen than 1,000 bales, all told. - ©; I umbla _Title 4! prices were 3 to 14 points off, uff l| | Ben o, which a burst of buying carried i i Ml most active months 4 to 7 points higirt Golombla Oray i than the close of vesterday. At the en P G e of the first half hour of the day the toie | g again was weak, with prices 15 to M Linotype points under yesterday’s finals, Decem- 194 Dotk Mars 3 ber dropped to 16.85 and January 30, O 17.03. e L Futures—December, 17.06; Januars, | ton _ Mirket 12.09; March, 17.18; May, 17.00, I TRADE REVIEW. Co., @ ports present a varied. indeed, an ir- g A regular, appearance. Wholesale trade Il { _Ese. Co., 31 has quieted_further; jobbing trade, | urnace except in holiday '‘specialties, has | tended to taper off, and concentration & of attention is on retail trade, which | is better, but fails as yet to reveal L the desired activity in the direction i |~ 3% of final distribution. Seasonal condis tions possibly largely explain the quieter trend in wholesale and job- bing trade, although cautious buying. by retailers who desire to make sure of closing the year with light stocks is an additional reason advanced. “On the other band, retail buying lacks the snap often visible at this season, reasons for this being irregu- lar weather, low prices for farm prod.- uce and in some large centers, rei duced purchasing power due to un- employment, which latter, howeve; does not tend to increase very matds rially as yet. “Weekly bank eclearings, $5.651 - 856,000 BAR SILVER QUOTATIONS. NEW YORK, November 26.—Foreign bar silver, 66%; Mexican dollars, 50%. ',u)dNDoN. November Jt‘—,‘nn silver, b per ounce; money, per cent. Y D% ratonshort. bills, “3% per cent; threesmonth bills, 3 13-16 per Immediate Occupancy s ; spacious front porch; t-in heated and lighted ; buil e has —_— NEW YORK, November 26.—Coftee, Rlo No. 7, 8 15-16; futures steady; Decsmber £ = i 8.64; May, 8.05 TR