Evening Star Newspaper, December 3, 1921, Page 17

‘ FINANCIAL® & 'S52.779,NET, SHOWN| * BYP.EP CONPA ‘October Earnings Less Than Previous Month; Greater Than Year Ago. The net income of the Potomac Tlectric Power Company during Oc- tober, §62,779, while §116 less than that of the preceding menth, is $4,112 more than the net income for the cor- corresponding month, 1920, according to the company's statement submitted | to the Public Utilities Commission yesterday. ¢ . The gross earnings of the com- pany for October of this vear totaled $392.087, as compared with operating Zespénses amounting to $232,842. Net Income for Ten Months. The total net income of the com- pany for the first ten months of the calendar year amounted to $776,612, compared with $438.676 for the corresponding period last year. The report of the Washington Rail- way and Electric Company, #lso sub- mitted to the commission yaslerdny.l shows a net income for October of : $40.450, contrasted with $35.421 for the corresponding period a year ago. and with $42.730 for the month of September, 1921, October Operating Reven The operating revenue of the com- during October, the report | amounted to $443.082, as| zainst operating expenses of $340,- 430, The subsidiary lines of the ashington Hailway and Electric “ompany all reported losses for the th under review, as follows: ashington Interurban $295: George- ‘town-Tenleytown, $1.208, and City “and Suburban, $814." The loss in each . however, was smaller than that the corresponding ntonth last for vear. ntertainment Chairmen Appointed. Final appointments . of ‘those in arge of the entertainment commit- tees to make arrangements for the entertainment of the administrative \ .committee of the American Bankers' Association here December 13 were made last night by John B. Larner, District branch of tional Capital Bank, was chosen chair- Juan of the reception committee; Vic- Jor B. Deyber, president of the Sec- nd National Bank, chairman of the nvitations eommittee, while Frank i. Addison, jr., vice president of the Ly Savings and Commercial will have charge of selecting Walson, president of the Liberty Savings Bank. is the chairman of the neral committee handling the af- % Local Stock Market. Trading on the local Stock Exchange was fair today, with sales of East ashington Savings Bank and Mer- haler Linotype featuring the ac- | tivities. Two hundred and thirty-three shares of the first mentioned stock .s0ld_at 14, while thirty-nine shares| of Mergenthaler. in odd lots, changed | hands at prices ranging from 131% 10 134%. There were also five shares of Capital Traction sold at 93%. Tn the bond market three $500 ‘Washington Gaslight 5s sold at 90 .ene Washington Railway and Electric 4s at 63%, while two $1.000 Potomac Slectric preferred 7s brought 104. One 5100 Potomac Electric Consolidated 5s was also disposed of at 89%. ;WEEK’S STOCK MARKET < MOST ACTIVE THIS YEAR NEW YORK, December 3.—The week on the stock exchange was one | -of the most active this year. Transac- tions in stocks were unusually large -and broad and the turnover in bonds for each full session was considerably -An_excess of $20,000,000. Prices of stocks trended mainly up- ward, with rails as the only promi: nent exceptions. Their failure to ad- vance was attriuted to rumors of -prospective financing by many of the arger systems. 1 Steels and equipments assumed lead- wership of the market, those isues be- coming speculative favorites in con- -nection with the proposed merger of arious independent producers. The «general industrial list. was better, although conditions in many lines of trade continued backward. Aside from a temporary rise of call Joans to 51 per cent, December inter- est and dividend payments were be- gun without strain to the money mar- ket. The latest report of the Federal Reserve Board and advices from agri- caltural and cotton centers indicate further liquidation of “frozen credits. Announcement that the federal gov~ ernment will co-operate with the Eu- ropean countries in the readjutsment of foreign exchange stimulated prac- “tically all forms of international re- Jnittances, some of these advancing to the highest quotations in -almost o a. $1 ~Commonweslth F . Toe. ex. i D1 Jan. 3 Jap. 14 W YORK STOCK EXCHANGE Received by Private Wire leed to The Star Office. Open. High. Low. Close. Open. High. Low. Close. Adams Express... 49% 5 4% 60 |PhilaCompany... 8% 3% 3% Ajax Rubber. 1% 18% 17% 18% | Phillips Petroleum 381% 81% 8i% Allied Chemical... 57% b7% b66% 08% | Plerce-Arrow..... 4 W% 1& Allied Chemical pf 9% 9% 99%- 99% | Pierce-Arrow pf.. 334 ' 33% 834 Allis Chalmers. ... 3% 7% 3% 87%|PlerceOil... 8% 18% Am Agr Chem s1% 81 31 {Pierce Oil pt Y% 68% Am Beet Sugar.... 28% =% 28 2 |PittsCoal. ©% 6% Am Brake Shoe 55% b65% B5% | Pitts Coal pf. o1 9 Am Can, 2% 2% 3% |Pitts & W Va % = Am Car & Fdy. 150% 149% 149% | Pond Creek C B 15 ‘Am Chicle Co. 8% 8% 8% |Pressed Steel Car.. 67% 6% 67% Am Cotton Oil. 21% 2% 2% | Pressed'StiCarpf. 89 8 8 Am Cotton Oil pt 45% 45% 45% |Producers& Ref... 25 25% 25 G 5 [3 5 |Pullman Co. 108% 1% 12% 12% | Punta Alegre. 2% 76 W% 6% | Pureoil.... D88 s s Am Internation; 4lte 39% 4% | RallwayStiSpr... 2 @ | Am Locomotive %% 97% 9% |Ray ConCopper... U% M% W% Am Radiator. « 88 &% 8 |Readin W T Am Safety Razor. Y 4% 4% 4% |Reading 2d pf. 8% 6% Am Ship & Com. . 6% 6% 6% |Replogle Steel.... 23% 2% 2% Am Smelting., % @% 4% &% Replron&Steel.. ta% 65 633 Am Smelting pt % 81 87% | Rep Motor Truek.. 6% 6% _ 6% 1m0 109 109 |Ries Robert. 8% 814 8% s4% 34 - 3% |RoyalDutch...... «1% 4% 1% 55% 6% 65% |StL&SanFran... 22% 2% 2% g5 @ 8 |SearsRoebuck.... 59 69 &% Am Snmatra..... 2% 824 32%|SenecaCopper.... 20 24 23% Am Tel & Teleg. . 116 115% 116% | Shell Trad & Tran. 37% 3% 81% Am Tobacco. . 184 12% 134 SinclairOil....... 2% 2% 215 Am Tobacco (B). . 129% 129% 129% | Southern Pacific.. 0% 81 8% Am Tobacco pf (n) ¢ @ 98 |SoPortoRlicoSug. 35 8% 3 Am W Wks 6% pf. . 16% 16% 16% Southern Railway. 19% 19% 19% Am Woolen. . w;-‘ z% 8‘2}3 gf:.':llgjlli l}y PI... 4% 4% 48 . 4’ % | Stand Oil of Cal. ... ey 46% 46% 46% |Stand OilofNJ podot ,:m iy Atchison. . s . 80 Atchison pf. . % Atlanta Bir & Atl. 1% | Submarine Boat 5% Atlantic Fruit Co 2 2 2 [SuperiorOil. 8 8 m Atlantic Gulf..... 324 31% 32 |Superior Steel 0 3 30 Atlantic Gulf pf. 3% B WK ;enn Copper...... 104 10% 10 Atlantic Petroleun 2y A% 2 exas Company... 45% 4% 45% Austin Nichols. . 10% 10% 10% | Texas Gulf Sulphur 3314 384 3% Baldwin Loco o5% 04% 94%iTexas & Pacific... 20% 24% 24% Balto & Ohio. 1% 37% 9| Texas& PC&OIl. 2% 29 23% Beth Steel (B).... 57% 66% 86% ! Tobacco Prod. . 5% 59% 58% Beth Steel 3% pf.. 104% 108% 104% | Tobacco Prod pf.. g1 g% &7 Bklyn Edison. . one o 9% |TransContlON. .. 11 1mg 10% Bklyn Rap Tr ctfs. 6 6 6 |UnionBag&Papr. mu 7% « 72 Burns Bros. 1, 116% 116% 116% } Union Ol. .. Butte & Superior 1 1w 17 |Union Pacific. Butterick. . 1§ 2% 2% 20%| Union Pacific pf Caddo Oil. 12 12% 12%|United Drug California Pckg. ¢ e T United Fruit United Retai! California Petro! ra. 62% California Pet pf 84% 84% 8% | USCastirPpf... 5% 55% Calumet & Ariz. .. 5 6 |USIndus Alcohol e % Tanadian Pacific. 118% 18% | U S Rubber 5% 0% U S Steel . U 8 Steel pf. Carson Hill Gold... 1% Central Leather. tral Leath pf. &% 63% Utah Copper Cerro de Pasco. S4% 34 4% | Utah Securities. .. Chandler Motor % 46% 47 |Vanadium Corp. Ches & Ohio 6% 1% 7% | Va-Car Chem. Chi & Alton pf. C&Estnllpfwi. C & Estn 111 pf ctf. sreat W pf.. Chi Grea! g Westhse Air Brk. . Westhse E & M. Wheeling & LE Chi & Northwn pf. R1& Pacific. . :% 3 33%| WhiteOil. D12 13 g2 ChiR1& P 6% pf T T % | Wickwire Spencer 127 1% i ChiRI& P 7% pf 88% 8% 88%| Wilson Company.. 295 29% 29% Chile Copper-. 12% 1% 124 | Wilson Co pf.. 2 mom Chino Copper. ... - 2% 21 2 |Willys-Overland.. 5 & 5 Coca-Cola 39 88% 38% | Woolworth....... 1221 1221 1215 12% Colo Fuel. 2% 2 2 |Worthington Pmp 4% 41y T 4l Colo & Sou ::fi fi;’ g" Worthington (A). 81 8 81 Gas. B~ APk : Szi Graphophone. . 3% 3% HOURLY SALES OF STOCKS. Col Graph pf. B B% B 15 llam..... 198 500 121m.......424 100 Cons c:g-r(p; 2 @ :h g'fi 5,& — Cons Gas of . : T Conaimacaisia. o ¢ ¢ ¢ |LIBERTY BOND INTEREST Cons Textile. b Gont Insurance o us wu| IS RULED TAX EXEMPT Corn Products. 8% 8% " ;% B 8% ~ |G e . Crucible Steel pf. 8 5,' z orporation Holdings Non-Taxable uban-Am Sugar. Wi 1% 1% gmflc“e Raear w T4 T4 ’,.',. Unless Income Distributed, Cuba Cane Su pf.. G I Says Revenue Board. Davidson Chem 62 6 6% Del Lack & Wstn 1 10% 10 Following reports from Wall street Detroit EdBIson- %% % | that corporations there had been ad- | & Emerson-Brant. g .7, - 8 i 3 Bmerson B o s T T e | Vised bY their attorneys that under 11% | the new revenue law all corporation % 17% | holdings of liberty and victory bonds, % 1% 1M as well as other government securl- l-‘tmou;l’lflyel'!-i o :’; 2; Su1 | ties, were exempt from all- taxation, FBmousPlu;'bl’p{ e T ‘T% T4 Lhe internal revenue bureau dast Fisher Body of T 10" "% 1o |might issued a formal ruling declar- Fisk Rubber. low| ing that interest on liberty bonds Freeport Texas. .. Br | held by corporations is exempt from Gen Am Tank Car the corporation income tax of the Aphalt | 6% | new law. Qe Aeohalt of N2 12 W2 | “Under the revenue act of 1918.” the e Gl €% 6% 68 |ruling said. “interest on liberty bonds Gen Electric. 1 1% 18 [held by corporations was vexempt s 11 10% 10% from the corporation income tax, and Gen Motors. |'such interest is also exempt from the Gen Motors pf. Gen Mot 7% deb. Goodrich. Granby Co Great Northern pf. 1% Great Nor Ore. ... 33 Greene-Cananea. Guf States Steel. 50 | corporation income tax under the rev enue act of 1921. Liberty bonds in- | terest, however, ‘when distributed in the form of dividends remains subject to-surtaxes in the hands of the stock- holders in the same manner as other | dividends: There appears to be no 49 EeasOnito} e pECL that the new law | rker.. 80% will give any encouragement to the O & 5 |use of corporations to own liberty Hi Moters 113 | bonds for the purpose of avoiding upp ¢ 4% | surtaxes, but if any such attempt Indiahoma. 387 | Should be made, the law provides o . }:::::’;-‘:’l‘l - :?_/: 3?:: 1% | @mple means for dealing with it.” R Interboro Met p 25% 2; z:u 2 ent. 4 Intiarvester z% 7 2% \Washington Stock Exchange Intl Mer ;}lr!““' s é;:: gk ;;"‘ Washington Relimr 500 at By Intl Mer Marine D! i Washington Gas 55—$500, at 90%, $500 Intl Truck 1st pf @ B WY 0% S50 lp'.;wfiu. SR sy 7 o & 2 Pot 2 . 5s—$ . itk NickeL, Bw o ow| Cepiar Tracton—Soat oo L T Intl Paper 0% 01 01| East Washington Savings Bank—100 ‘at 14. Inter Paper pf. N 2 o 100 at 14,133 at 14. I Paper (0 T D i oo e s e, 3 0 Invincible Oil ) % .5 at 134%, 8 at 134, 10 A : Iron Broducts. 2% 25 B2 AFTER CALL. .| Iotand Oll. 3 2% 2| Potomae Electric ref. Te—$LOCO at 104, Jewel Tea pf. s @k 8% @) S 2 Jones Te 88 B B BONDS. Kansas City Sou.. 24% 20% 2% 2% Bid and ‘Asked Prices. Kansas C Sou pf. Ul PUBLIC UTILITY. Kansas & Gulf Co. 8% 8 8 ~ o K Kelly-Spring Tire. 2% 42% 41% 42% | American Tel. and Telga. 4s. 87 88" -Spring 8% pt 8 89 89 89 | American Tel. and Tefga. 43 Eelly-Spring S2p Am. Tel. and Tel. ctl.. tr 01% fienn{ecau‘.\ .- %/ 2;:: 2% 20| Am. Tel. and 'f,el: conv. Gs.... 108 eystone Tire. costin and Potcmac 6., S nacosti Ku’:l:i:r:ifin Steel 46% 48% 46% 8% | ¢ T:'.dx -[:,nffil&.”fi" X ge i{LakeErie& Wpf. 2 26 25% 2% Cily and Suburban’ 70 Lee Tire & Rubber 28% 28% 28% 28% | Georgetown Gas lst 78 Lehigh Valley.... 5% Gr% 6% b7/ Metropolitan R B, Beio0.0 92 Liggett & Myers.. 155% 157 156% 167 | p0i0nc piectric 891 Jan. 3 interim 5% L & R, Sople, M.l .2 Waldorfy System - ptd, TRADE CONDITIONS. _NEW YORK. December 3.— Dun's re- | view trade says: “A year which has| heen marked by slow and uneven eco- | nomic recovery nears an ending with seu- sonal abatement of demand in different | juarters, but with basic conditions strengthenéd. At this period, when tak- Ing Of inventories requires attention in y channels, activity in other than les i= no ordinarily witnessed, and was not to be looked for in the present instance. That lacge operations have been recorded in certain branches, .as in the hide trade, merely illustrates the existing irregularities, and the con- e dealings in most directions are ! _most representative of the general _status of business . “Frequent reiteration of the state-} ament that many buyers are de-! Yerring important action has been Tiecessary this year, but disappointment -over results in various lines has partly -arisen because of the expectation of more rapid revival than the facts of the situation justified. A fall of about 40 per cent in wholesale prices from the higix level of 1920 naturally had an un- settling_influence everywhere, and the readjustment to a new basis of con- sumption, production and prices could not_be quickly effected. « “Weekly bank clearings, $6,999,550,- 690, > —— s TO LIFT COTTON BAN PARTLY. DALLAS, Tex., December 3.—The ouisiana quarantine against Texas cotton because of the prevalence in 8 state of the pink bollworm will reduced to permit the shipment of lint, Harry D. Wilson, commissioner of agriculture for Louisiana, stated at a conference of-cotton experts here. His statement followed ' announce- .,ment by R. E. McDonald, Texas state -vntomologist, that an effective means of sterilizing cottonseed so as to kill .the worm had been discovercd and f_;\llglllill be applied as quickly as’pos- N Montana Power. 59% 59% §9% | American 2 Montgomery Ward 15% 16% 15% f Capital - o 12% 12% 12% | Commercial 126 2 1% 2 ll;\lllrlct i Mechaicet 1 A% 413, 41% | Farmers and Mechanics' . B R T { Natl Ry of M % 3% 3% 3% Lincoln fr Nevada Copper. 13% 18% 13% | National 210 New Or Tex & M. 0% ‘6% 6% | Rises b U T TN | Washingt 180 196 1% 18% TRUST COMPANY. NYOnt& West... 204 20% 20% 20% | American Securlty and Trust.. 219 N Y Shipbuilding.. 18% 13% 13% .18% | Continental Trust ... 98 Lima Locomotive. 8 8% 83 Potomae Electric Pow: 08 k- ashingion Gas ‘5s. o ; Washington Gus Ts.:.0 x?a?’é Slev. Vashington Rwy. an lec. 4s. P Wash. wy. ang Elec. g. . oe. 94% Mexican Pete. S oes msstty, ACKLEAMEOUY. 2 Mexican Pete pf. Rigg Realty 5s (short o7 Miami Copper Washington Market 82 Middle Stateés Oil Wastington, Market i A & M. Cold Storage bs. STOCKS. ~" PUBLIC UTILITIES. * American_Tel. and Telg: 15y . o1y ~ Capital Traction Washington &: 47 folk_and Wash. “Steamboat. 184 3 Wa: wy. Elec. s 38 Wash. REwy. and Elec. pfd NATIONAL BANKS. Midvale Steel..... Minn & St L (n) Min St P & SSM pf. MoK&TwWi. MoK &Tpfwi Mo Kan & Tex. 48% Mo Pacific pf. orfolk Southern. 10 10 10 Norfolk & Wstrn.. 98 Norfolk & Wst pf. % North Americ “ American pf. Northern Pacific. Nova Scotia Steel. Xational Savings and Tru Unlon ‘frust .. 2 Washington Lean BAV! 40 Pac Development. 8% PacGas & Elec..., 6% Pan-Am Pete (B) . handle Pere Marquette. Pere Mrq prior pf. Pere Marq pf. 2% 64% BOND AND © " Bonds. (Furaished by Redmond & Co.) ¢~ 'y 8. LIBERTY BONDS. 8. Liberty l‘{. ¢ . 8 8. Victory ! 8. (Vietory French Government B« 1943. s 1941 Atlantic Coast Line Atiantic Refining C Baitimore and Ohio 8. Bethlchem Steel refd: on (N. P.-G Canadian Ntl.-Can. nadian Northern 7e 1 g Maracatbo 0 Mason Merrit OfI . Midwest Of) com Midwest 0l Midwest Refining . Mountain Producers’ . Nevada Ophi New Cornef Missouri Pacific general 4 ew York Central 7s, 1930 ew York Central deb. 6s. hone. 2 R. J. Reynolds * Pennsylvania 5s, 1068 - 96% | Ryan Consolidated . R, . Salt Ci Pennsylvania Pennsylvania s o Penpsylvania gen. mortgage 4! Reading general 4x 8t. Louls and San Fra d San Francisco Gs. 1 St. Louis and San Francisco ing, Seaboard Air Line 65 Seaboard Alr Line refdg, 4 Southern Pacifi Southern Raflvay _gen. M Unit Southern Railway U FER RPSEE P RE2REEBRRABEREE2E2S s Stee . 98 uum Oil Corp. 1936, Virginia-Carolina Chemlcal 73 Western Union 81w, 1636, Wilson & Co. 1st 6s SHORT-TERM SECURITIES. 100 101 e Anaconda Copper 6s Anglo-American_Oil Ammour & Co. Ts 1590, ot i ‘opper Copper Copper 101 . Good 1f '0il Corporation 7 H. 3. Heinz 7s 1930. Hocking Valley s 1934 Humbie Oil 75 1923 Kennecott Copper 7s 1930. & Myers 6 1921 mble 78 1922 1923 ars, Roebuck & Co. 18 1922 Southern Railway 6s 19 993 = T % 1o 101 el 102 Unfon Tank Car 980, % 104 Wester Electric 7s 1925. 104% Westinghouse E. & M. 7s 1831 105% ‘U. 8. TREASURY CERTIFICATES. ~———Close.—— Bid. Offer. 1007-32 100316 100 3-16 100 9-3: 1100732 100 1007-16 100 17-32 100 100 116 Rate—Maturity. B, 100 21-82 100 25- ity 100 100332 5%, 5 1028 Sy ptember 15, 101% —_— LIBERTYS AGAIN | sipecial Dispatch to The Star. WALL STREET, NEW YORK. De- yesterday. Liberty bonds made the largest gains. Thelr activity, togeth- er with 'the dealings In railway se- curities, most of which were steady, constityted the bulk of the trading. Foreign govefnments generally were firm, although a few bf these issues, MARKETS. I TRAING IS BROAD; | Furnished by W. B. Hibbs & Co.) ~ Aetna Bxplosives Alijea oI 2 n Davis-Daly . Dominien_0il Durant Motors Eik Basi Engineers’ Petroleum Eureka Glllette Batety Razor Gilliland 011 82 | Glen Alden Coal 841 | Glenrock Ol | Guffey-Gillespie .. Intercontinental Rubber 9% | International Petroleum (i % jerome Ve * 108% | Kay County . T1% | La ke Torped: Lincoln Motors Lone Bt May fd 72| 614 | Omar O Pennok :) (new) . well Perfection Tire 5 8i Skelly Oil uthern Co Sweets Co. of America ;. Swift Intcrnational . Tonopah Divide i Tonopah Extension United ro U. 8, nd o . Light and Heat pf od Profit Sharing. 8. Ship Corporation . 8. Steamship . ed R Cond, Armour Leather com. Armour Leather pfd. Paciing *- Leathier .. Armour Cudahy by National Swift & Co. ‘nion I 14 | Angio-American 0il Co. (new). 1 waer Co. 3 Vipe Line Co icdiana Pipe Line Co Galen 1% | Niinois 1 4 | Prairi o bt at2 | Prairie Pipe Line Standard Oil Co. Standa % 8 0014 | Stundard Oil Co. Sears. Roebuck & Co. Ty 1023.. 100 Standard 01l Co. ig | Swan & Fine 101" | Union Tank Line Vacuum Oil 1011, | Waskington Oil Co. e e e o ’I'h w‘d IMPORTS SHOW DECLINE. |was - ont “more sceurence” warai] » 201 ‘Widow RE, December 3. — Cus- | CUSht the short interests unprepar* | BALTIMORE, em! < ed and there was quite a scramble to || __\wants to invest her toms imports t:tere for last five months ve fallen off more .flr":om the same period of 1920, accord- ing to official November were only about two-thirds as much as during the same month last year, showing a decline to the 100 2132 100 2382 | value of ~$84.006.78. 100 23-32 100 27-32 | October of $9,022.31 over October, 211920, inspired hopes that a turn for the better had begun, but the No- vember figures were disappointing in this respect. $169,109.62, 1116.40 for 1920. ‘wom IN GENERAL MOTORS. NEW YORK, Dece were I mately one out of every four stock- jholders of .the General Motors poration is a woman, at the present ) time, compared with one out of five - ilast April. according to official figures. i There were 17,330 woman stockholder: of record on October 3, compared with {18,116 on April 15, the increase in’ the cember 3.—The greater part of the!six months being 2,114. ‘Women now constitute 21 per cent bond market today was practically at} VIOMes B0 €O ) o Cers and own the levels established around theclose!g per cent of the entire outstanding common stock. cent of the preferred stockholders and own 37 per cent of :the outstanding preferred stock. FREIGHT CAR BOOKINGS LAG. 'NEW__YORK, December % First Trust Notes secured on mew houses Absolutely Safe . Guaranteed Title Notes in demomination of $500.00 and up. For information 3 2 % 7% STOCKS IRREGULAR Rails Are Again Relegated to Background—_Closing Is Firm. Special Dispatch to The Star. NEW YORK, December 3.—Trading \In the stock market this morning was quiet by comparison with yesterday. Interest was limited to a number of special issues, some of which were ‘weak, but most of which went higher. On the whole the market position at the end of the day was very little changed. Thdére was no suggestion, any more than there had been on the TO THE FEDERAL oo daye, of“the tection Thich | TO THE FEDERAL ing/ On the contrary, nearly.all of - the fresh Initiative was on the side |, D0, YOU KNOW todsy He00 0% "B oof of rising prices. ten shares of COSDEN OIL! The buianoe, Oils and the usual industrial favor- | §30.00 gonthly or to suit your income. ites furnished the bulk of todays| A Wishington house offers their TWENTY broad but irregular dealings in the | PAYMENT PLAN for the o such stock market, rails being relegated |stndsrd Sivient ipeynrs. to the background. The closing was|Van Strum, Scott & Company, Inc. 927 Fifteenth Street N.W. general lisi No further light was thrown upon above even yesterday's best prices. & i ot s 0 BRE S e BB S FaR & & £} H sa;gngfia;as ’ gsgfi ® = : Wagsimaq:& Brawnes, Franklin 7485 914 15th Street N.W. RE R W SRBBex Erbadons 2uga S 25Er -B3a 28 FEFERE firm, with sales approximating 350,000 shares, In the bond market liberty and victory issues continued to strengthen, ‘with a firm tone to the the negotiations for the new steel Mone! to l‘oan merger or upon the terms on which || we the various properties are to be taken in, but all the stock concerned got 2582 T Bl - are in a position to give you the vest service in real loans. Money now on hand for either straight or building loans. Shannon & Luchs M. 2345 713 14th St. || Shipping Stoek Aective. The othér features of the day were the shipping stocks, which were actively bought on the news that the President would soon come out with ! a special message advocating a sub- | sidy for the American merchant ma- ! rine; Trans-Continental:- Oil, which was favorably affected by the com- pletion of its deal with Standard Oil of California; Westinghouse Electric, Atlantic, Gulf and West Indi Amer- ican Ice, Vanadium and Wickwire Steel. On the other hand, Central Leather stocks were very weak be- cause of the unfavorable business conditions surrounding the company, and an unsatisfactory trade situation was algo rellected in the heaviness of o (TIPS Comprehensive List of Bonds "94 Different Issues & Eiguug FEFER Conservative itlvestors shouid find of special interest our offerings of 94 different issues = - GBS oBuuliemmmt (s %, International “Paper, Sears-Roebuck ““_ and Industrial Aloohol. ! of ’_clalref_ully selected bonds, 3L onjeavy buying of Trans-Continental | 28 follows- , starting at the opening and car- . o Sl St T T [ ey ey nes y an authoritative H . %fi statement that the long-pending ne-( . M‘ PR g:flm:;msuoplemeen the company and t Bonds -8 ndard Oil of Cali i Ut 5 L4 fi;,: ooy ifornia had been Public Utility Bonds 15 Specialties Move. Industrial Bonds There were a number of interest- | ing specialty moves, but mot all of them up. The Central Leather issues were very week because the market for the heavier grades of leather is still depressed and the company is re- ported doing very little better than it djd in the two previous quarters, when heavy deficits were shown. The street nursed along both_of yex. terday's movements—the indépendent | steel merger and the coal merger. It Foreign Gov’t Bonds We suggest that you send for Bond Ciréular No. 605. 1Redmond&-Co. 1516 K Street OIL STOCKS. took only a moderate amount of buy. New Y Pittsburgh ing to push Midvale up above 30. ‘P\f,‘; d‘?r,k' Bauimo?c' Lackawanna Steel and Republic were | pagcpin both scarce when buying got into them again. Pittsbukgh Coal and Pittsburgh and West Virginia were 20 the favorites among the coal stocks. 25 | ‘The street is full of talk regarding 575 |increased payment in regular divic 92 {dend rates of several of the standard Over a 230 jcompanies. One of these rumors is| rt 8 |that the Studebaker dividend will be Quarter 82, |increased at the next meeting. But | of a 50" | this is offset.by talk ef further price | 3% {cutling by the same company. —An- | Century 130 [other report is that the American | Without 3% | Locomotive Company will increase Loss its common dividend. Still another a Bak H 5835 is that the Pierce Oil Company will pay something of account on back 3 dividends on the preferred. = ‘The . declaration of get in short committments right from the opening. Those who took a short position in the stock—one big “oper- ator being short thousands of shares | —had figured that the dividend was | gone. i than one-fifth Il money where it will be figures. Imports for Absolutely safe. ° . Yield a good return. Be free ffom worry or details. v Curb Trading Fair. Business was fair on the curb ex- | change but after early advances had been recorded.in some issues there was a somewhat easier tendency due to, the taking of profits. The ol shares attracted most attention, but some interest was shown in mining issues, Corte silver being active and strong with a good demand for a time n Eurcka Croesus and Boston and Montana. Acme Coal was more active. The tobacco stocks were easier. Anglo-American and Simms Petro- | leum were features of the oil list, | both being in demand at higher' levels. Standard Ol of Indiana eased | off on profit-taking. Small advances were recorded in Internmational Pe- | troleum, Salt Creek Produeing and | Imperial Oil of Canada. Phillip Morris led the reaction in the tobacco shares. United Retail | Candy, which usually moves with the | tobaccos, acted independently and mpved up a small fraction. - Business Wi ‘smaller In bonds. The tone was steady and price changes generally Were confined within fractional limits. | ‘The excess in Totals for November as against $253.- N Our 7% First Mortgages are ideal for such a purpose. mber 3.—Approxi- We shall be pleased to sub- mit investments to suit any . request. B. ,F.‘ SAUL CO. Mortzage Loans 1412 Eye Street N.W. Main 2100 Cor- ‘They constitute 45 per 3.—More which fell off slightly yesterday, con- |than 9,320 new freight cars were or- tinued to decline fractionally. Thls‘dered for domestic use in the first ten was true of City of Copenhagen 51;s, i months of this yea, it is shown in an below 88, and City of Rio Janeiro 8s, Again today there was considerable demand for the Missourl, Kansas and Texas issues. The adjustment 5s, on a when-issued basis, were in most urgent demand and crossed 43 for the first time. The 4s and 5s, series A, also on a when-issued basis, fvancéd fractionally. Union Pacific 6s gained slight); first 58, the New York Central deben- ture 68 and 3%s, Erie convertible 4s, series D, and Reading 4s were notably strong. On the other hand, weakness was displayed in' such bonds as the New Haven debenture 6s'and Denver and Rio Grande 4s. Few Industrial Changes. official report. ders for 3,907 freight cars, the total for the ten months, 13,227, is less than 9 per cent of all freight cars ordered here in 1920, The biggest year since 1900 was in 1905, when 341,315 freight cars were ordered for domestic service. there were 310,315 ordered. —_—— 2 Likewise Pere Mary uelle!mmon WOOL BUYERS ALERT. LONDON, ! December 3.—At the wool sction sales here, 9,815 bales were of- fered. There was & large attendance of buyers and the small selection was virtually all sold at current rates for the home and cantineptal markets. Including foreign or- In 1906 In the industrial section the major- ity of the representative issues were very little changed. American Smelt- ing and Refining 58 continued reac- tionary. The tractions and public utilities were steady. 0 : Notwithstanding some profit-taking , which occurred the last day or so, the ‘market this week for Canadian pro- vincial bonds has been strong in the main, and several representative fs- sues continued their advance. On- tario 6s of 1943 were in demand at 103 bid, offered at 103%; the 6s of 1923 were 98% bid, offered at 99%, and the 6s of 1930 were 99 bid, offered | at par. Manitoba 6s of 1946 were 101 | bid, offered at 102; the 58 of 1922 were 99% bid, offered at 993, and the 6s of 1928 were 97 bid, offered at 98%. TO MARK “MADE IN U. §. A” NEW YORK, December 3.—Presi- dent Watts of the Association of Cot- |- ton Textile Merchants, has asked members to transmit to thelir- mills the recommendation of the board of directors to mark all standard grades of branded cotton goods “Made in United States of America” or “Made in U. S. A” This marking should be |- on_the outside of each bale or case and_on each piece or boilt, and begin on January 1, 1922, or as soon there- after as possible. e many ad- vantages of marking ‘all standard ‘goods in this manner are obvious”| ° the notice says, ‘“and they should|. far outweigh any disadvantages. Money Sum - Washington _terprises. _Stone & Fairfax — - Conservative- largest city of the United people to clear their homes Valuations £ : 727 15th Street N.W. ; : Washington, D. C. : The Nation's Home Town. - <-- - FINANCIAL. Consider Washington— * \F the total of 2,400,000 homes in the . only 2.7 per cent were owned free of en- - cumbrance. 13.5 per cent of Washington = homes were owned clear of all debt. HIS thrifty ambition of Washington of debt ‘ i - ' H I; ‘ . Zaes ey * 52 Years Without Loss to An Investor. LOANS If you have money to in- vest we can safely place it on gilt-edge first D. C. Mort- gages. Our record of 30 years insures your protection. Cour- teous treatmrent. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. Money to Loan Secured first deed of R e e J_‘”eph L Weller bidg.. th and r‘:.'-: MEMBERS: New York Stock Exchange 111 Broadway, New York Washington Office COLORADO BUILDING Telephone Main 1603 G. B. Chipman + Manager 7777777 L INDEPENDENT OIL STOCKS Descriptiv e booklet of a b ovesecuri- ties may be ob- tained by call- ing at our Sta- tistical Libra- ry, Room 201, Hibb s Build- ing. W. B. HIBBS & COMPANY Members New York EQUITABLE Co-Operative Building A .I.m Assets Surplus . —Join the Equitable and save system- atically. Then you will establish & fund to make a deposit on a heme, Subseriptions for the 824 Issue of Stock Being Recelved Shares, $2.56 Per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. NW. JOHN mg. ‘ml. President _States, is one reason why first mortgage notes on . ." Washington real estate are generally re- . garded as safer than those of almost any