Evening Star Newspaper, January 11, 1922, Page 21

‘FINANCIAL. NEW YORK STOCK EXCHANGE |Grain, Produce Received by Private Wire Direct to The Star Office. INDUSTRIALS L LISTLESS MARK Renewed Buying of Oils. Foreign Exchanges Are r Lower. NEW YORK, January 11.—Features of especial Interest were lacking at the dull and uncertain opening of today’s stock market. Bethlehem Steel ‘was the only prominent issue to reg- ister more than a fractional change, gaining 1 point. Most other indus- trials were lower, as were also oils and ralls. The market steadied within the first half hour on renewed duy- ing of Mexican Petroleum. Prelimi- mnary foreign exchange quotations wvere lower, especlally French and Jtalian rates. The recovery of Mexican Petroleum Wwas followed by advances of 1 to 4 points in Standard Oil of New Jer- ®ey, Texas Company, and Houston ©il. Shorts next coversd in equip- fments, coppers, motors, food special- ties and chain store issues. Advanced 1 to 3 Peints. American Locomotive, Rlfl"l’l Hteel Spring, American Smelting, Utah Copper, Studebaker, Corn Products and May Department Stores rose 1 to 3 points. Crucible and Pullman were among the few industrials to lag. Eries con- tinued to strenghten, but the railway list as a whole was slugglish. Government bonds were active and I(ron[. all the Liberty group except the third 4%s and Victory 3%s scor- fng new high records. Call money opened at 3 per cent. Interest in Idle Money. The principal interest again in to- May’'s markets centered in the varlous Imanifestations of the great supply of idle money piling up at the reserve cities. No further reduction oc- curred in money rates themselves, Bbut the time loan market got more definitely established on a 4% per cent level. This rate applied to Stock exchange loans containing as_col- Jateral a mixture of rails and in- dustrials, but borrowers who were oftering industrials and nothing else ®&s security were readily accommo- Mated at 4% per cent. The banks found it extremely difficult, in view of the slender demand for specula- tive purposes, to lend their valuable balances to anything like the full. In consequence, these unused funds turned again into the market for mcceptances and into the higher quar- ters of the bond list. New Highs for Victorys. The entire group of victory and liberty Bonds reached new high prices and standard railway issues were up a half point or more all around. ‘The stock market was dull during the greater part of the time, but it was a good deal stronger than many of the experts had been figuring upon. The professional rank and file had been bas- ing their operations on the theory that the reaction which started on the very first day of the new year would be car- ried considerably further. They had been selling stocks short on this notion and the result was that tae short interest gradually expanded until it reached at the outset of the present ‘week very respectable dimensions. Both on Monday and on Tuesday the market had stoutly resisted all efforts to get prices down. Here and there it was blé to break Individual stocks, but this did not have the desired effect of pitating a general selling move- ment. Short Interest Misgivings. Today the short interest commenced to display misgivings as to whether it had not misjudged the market po- sition. The advance, for the most part, was confined to the highly speculative issues in which “bear” traders had been active. Where there was little or no short account to ‘work upon the rise was comparatively emall. It was significant that the oil #hares should have been among the leaders in the recovery when another all around cut of a cent a gallex in gasoline prices was announced by the lfl!lndl.rd 0il Company only this morn- ng. Ofl Shares Rally. There was every indication as busi- mess began this morning that the ehort interest in the American oil stocks had grown to large propor- tions. It was especially heavy in Texas Company and Pacific Oil, stocks which are attractive from a ear standpoint because of their arge floating supply. What hap- pened was that these short sellers, who had been basing their attitude wupon an unexpected cut in Midconti- nent Oil following the 75-cent-a-bar- rel reduction in Pennsylvania crude, commenced to get very uneasy over the prolonged delay in any such an- nouncement. Texas Up Very Easily. Texas Company, once short covering started, ran up very easily. So did Pa- cific Oil and other members of the mupl like Producers and Refiners. Tt was re- called that when the oil market was ad- vancing last fal' the midcontinent ter- ritory followed the lead of tae Pennsyl- vania district usually within a day's time. Now more than a week has gone by since the first cut in Pennsylvania crude and more credence was taken in the opinion expressed in some quarters that the Pennsylvania reduction was merely & readjustment in an individual market and not a signal for a general decline. Crucible and Mexican. The market awoke today to a better appreciation of the anomaly of Cru- cible Steel preferred’'s breaking ten points and selling around 80, while the common stock was off compara- tively little. It thereupon set about to rectify this situation, and Crucible Steel common was the weakest thing on the list from the start. A similar anomaly exists in Mexican Petroleum. Herse is an 8 per cent preferred stock Whlch lnlfl today at 80, down three m the last previous transac- t|on -nd nve points from the first of the year. It is four points under California Petroleum preferred, paying 7 per cent, and yet California Petroleum common was selling today around 44, ‘with Mexican Petroleum common around 109. OFFICIAL NOTICES. NING l:osnnumv OF .THE DISTRICT Columbia, Wal Jan oo e it the prvvllln-l of mmm of an act of 3 reh 1, S0 (Public No. 153, 68in coulreu, entitied - t to regulate the helght, ares and use £ Dolidings 18 K3 District of Columbia. ang 1 create & voning commission, and for other "), lfl!n s hereby given that & pub, will the board room of the District B-Ildllll WS e, January 19th, considering the fol. T ,s:'e H g‘fi H : 35 i i CT — Property nue. north of Cathedra 1 3 & = s § 5 £3 ity i 52‘ 4 F h‘lt l'lufl A out thecato. CRRNER FRoM T m couxn- TO 2nd EOIH!RCIAL ND F AREA—Frontage on both sides ol x.zo- road between l1th and Champlain streets icent thereto. CHANGE FROM AL TO, RESIDENTIAL—ANl al in the th | Union Oil.... NOTICE. Owing to wire trouble on account of storm, to 11:45 only. Ajax Rubber. Allled Chemical Ml::d Chemical pf Am Cotton Ofl Dl. . Am Hide & Lea ptf. Am International. Am Tel & Teleg. .. Am Tobacco. ... Am Tobacco (B). . Am Tobacco pf (n) Am Woolen... Ansconda........ Asso Dry Good-. . Atchison.... Atlantic Gulf..... Baldwin Loco..... Balto & Ohio. Balto & Ohio pr... Beth Steel (B) Burns Bros. Burns Bros Bw i.. Butte & Superfor. . Butterick......... California Pcksg. . . California Petrol... BT% 108% . 2% lls% I” 2% !l% 66 4% Canadian Pacific. . 120% Central Leath pf.. Chandler Motor. .. Ches & Ohio. Chi-Great Waatn.. Chi Mil &8t P..... Chi Mil &St Ppt.. Chi & Northwn. Chi & Northwn pf. Chi R1 & Pacific. Chino Copper. Coca-Colsa. Corn Produc Corn Products pf.- Conden & Co. Crucible Steel. Cuban-Am Sugar.. Cuba Cane Sugar.. Cuba Cane Su pt Davidson Chem. Elk Horn Coal Endicott-Johnson. Endicott-John pf. Famous Players. Famous Playrs pf. wisher Body of O pf wisk Rubber. . wreeport Texas. Gen Asphalt. Gen Clgar. Sen Motors..... fen Mot 6% deb. .. Gray & Davis. Great Northern pf. 3reat Nor Ore. Yuantanamo Su Haskel & Barker.. Houston Oll. 2 Hupp Motors Hydraulic Steel... (ndiahoma. Intl Mer Marin Tntl Mer Marine ntl Nickel. island Oil. Jewel Tea. iewel Tea pf. ones Tea. E:nm & Guie Co Kelly-Spring Tire. Kelly-Spring 8% p! Kennecott. Keystone Tire. <resge (S 8). Lackawanna Steel Znigh Valley.... Liggett & Myrs pt. Marland Oil....... Martin-Parry. Mathison Alkili. Montgomery \Mullins Body vatl Biscuit. Natl Enameling. Otis Steel.... Pac Development. PacificOfl..... Pan-Am Pete Pan-Am Pete (B). Pennsylvania.. enn Seabd Steel. People’s Gas. Phila Company Phillips Jones. 2% Phillips Petroleum = Plerce-Arrow. .. Pierce Oll..... Plerce Oll pf. ... Fallway 561 8pr. Rand Mines. . Ray Con Copper. Shattuck-Arisona. SinclairOfl.... ¢t | So Porto Rico Sug. Southern Pacific. Third Avenue... ‘Tobacco Prod ‘Trans Contl Ofl Union Pacific Union Tank Car pf United Retail Strs U8 Food Prod.... U 8 Indus Alcohol. U 8 Realty. U 8 Rubbe: U 8 Rubber 1st pf. U 8 Smelt & Ref. Wabash pfA.... [0 50 % 5% 1% 0% . 62% IW% Ill% 8% 16% 50% 13% 6% I(l% 110% 5% 58% 108% 2% e pan; Dbetween Cathedrai Texas Gulf Sulphur m( OHANGE FROM 40| Texas & PC&OIl. 24 L] 17 125% 108% 52% 16% 5% 104 8% “8“ 182 15 287% 21% lll% 2% 62% 16 8% 16% TI% 2% N 9% 80% 8Y 46% % 2% 7 36% 2 26% 17% m 45% 8% 108% e 26% 21% 2% 107 100% 80% 26% 1% 29% 32 stock quotations are given 16% 16% 1% 5% 103% 104 |/K 8% 115% llfl'h 181% 132 128 lfi% 1% 115 8% 28% 2% 21% 9% my Mm% 2 2% 61 61% 15% 8% 16% 16% u 1% 8% 81% 9% 9% 9% 8% 2 n% 1% 2% 384 88% 80% 81% W% % 1% 1% “h o 6% 7 3% 2% 2% 6% 6% 36% 6% ” e 6% 26% 1% 1T% 110% 11 L ) 68% 58% 108% 108% 12% 2% 2% 21% 2% 22 2 105 107 107% 108% 80 80 26% 26% % 1% 0% 9% L P §!§¥§§§"‘§§“§=§=§!!§ ?2 S L19% X Wabash pt B. W 12% Western Md. ... % o Western Union k% 9% % % &% o s 1% s 9% Wickwire Spencer 1% 1% 1% 165% Wilson Company.. 21% 2 %1% 128 Willys-Overland.. 6% 6% 6% &% Call Money. HOURLY SALES OF l'roclu. 1 Bewinion ON Cor o llnllln.er Consol. Goh . & B. L. A exira i hn. u . $2.. Union Ol of Calii Jan: 21 4 Washington Stock Exchange SALES. c-spnu Traction 55—$1,000 at 95, $500 at Washin t%m‘uwu and Electric 4s—$1,000 ac 663 Electri ms. 55—$1.000 at 90. Potomac 'Electric ”%}5 00 at t 16"at 50. 135. Lanvton uunoupn—z ‘Washin; 5% per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. American Tel. and Telga. b and_P. Teleph nd P, Tel, of Va. tal Traction R. R. 0s. City and Suburban Gs. Georgetown Gas 1st 5s. llnlmpolllln R. R. bs. Electric Light Potemnc Electric Light co Potomac Electric PW'H’ 6s. Potomac Elec. Power g. Pot. Elec. Power and XQ' T Wul gl.x and l" alto. FPUBLIC UTILITIES, American Tel. and Telga. Capital Traction .. ashington Gas olk sud Was i Wash: £l Cl Elec. com. 3 ‘Brec. prd NATIONAL BANKS. Rwy. American Lis National Riggs_ - Second Washington . TRUST COMPAN American Security and Trust Continental Trust ..... tional Savings and Trust. Union Trust . 3% | 3 Washington Loan and Trusi 8AVINGS BANK. EHEE : Security Sav Seventh_Street g gl American Arlington occora (o3 Beo ® g‘l‘l’LE INSURANCE. e Titie MISCELLANEOUS. Columbia Grapboptone ‘com. Columbla Grapbophone pfd... D. C. Paper M D. C. Paper pf Merchants Transfer and Storage .... Mergenthaler Linotype 0Old Dutch Market co Old Dutch Market ptd Lanston Monotype Security Storage 5 hington Market .......ll *Ex-dividend. U. P.’S $10,000,000 ORDER. NEW YORK. January 11.—The Union Pacific has placed an order for $10,- 000,000 of new equipment, to be de- livered by the manufacturers during the first six months of the current year. The contract ranks among the largest which have been' placed by the various railroads since the move- ment to purchase new equipment set in several months ago. The order .calls for 2,000 double-sheathed, forty- foot, fifty-ton cars and 1,500 double- sheathed, forty-foot, fifty-ton auto- mobile cars designed for general serv- ice, including the hauling of grain in bulk, and for 1,000 all-steel, fifty-foot, fifty-ton. automobile cars. ERIE AT LOW OF 40 YEARS. NEW YORK, January 10.—Erie common stock, which dropped yester- day to $7 a share on the stock ex- change, recorded its lowest price in longer than forty years. Not since April, 1877, when the shares of its predécessor company sold at 4%, had the stock sold at as low a figure as it did yesterday. Its common stock regained a half point before the close and the last sale was at 7%, off 2% points on the day’s turnover of 26,100 hm‘ Losses also were recorded in its funded and preferred issues, the latter amounting to more points. Columbia Real Est: Ba o 8o & - oel; 3 B b ————— CONFER OVER MERGER. NEW YORK, January 11.—Repre- sentatives of several of the inde- pendent steel and iron companies located in the middle west conferred here with financiers regarding the terms of the .proposed merger re- cently announced. Discussion, it was said, dealt mainly with the valuation of the plants involved in the pro- spective consolidation. SUGAR MARKET STEADY. NEW YORK, January 11.—The early raw sugar market was steady and un- changed, at 115-16 for Cubaa, cost and freight. equal to 3.54 fo ugal, 'lnt:s no sales t1-etpm'!ed. el 'w sugar futures were firm d 3 to 4 points higher at noon, o:.'c::- ering and buying by Wall etreet and commission houses. Refined was unchanged at 4.30 to 4.90 for fine granulated, with a good inquiry. There were no transactions in refin- ed mtllrel. 8,114 m GET SHIP JOBS, NEW YORK, .huu 10.—~Records of the ses serv lmunu of the United States SMmflnl’ Board show 8,114 men were placed on vessels of the board during December, an in- crease of 1,035 over the previous month and the highest so far shown in any recent month. This was ec- counted for mainly by the large num- bers of men temporarily required to transfer laid-up government vessels to. winter quarters. —_— CHICAGO LIVE STOCK MARKET. CHICAGO, January 11 (United States bureau of markets).—Cattle—Receipts, 7,000 head; beef steers active, rnon.!y 15 to 25 hlghar. quality plain, bulk, 6.75a7.85; fat she stock and calves lv.ronx. bulls steady ; stockers and feed- ‘.%EM RN b“l:“hixhu'. &I‘k bolognas, ogB—Recel 13.000 head; falrly active, mw Mx -‘tlhn yes- tie; m&uofl!uult ‘m.lfw“lb tew od of light lights, 8.35; bulk, 7.60a8. oo 1-[:! uneven ; bulk deeirahlc, $.00a8.25; few at ¥.35, mnwa{ o4 Eectric 43—$1,000 | 1.5¢ —T?_‘——;‘—‘——"'-‘—"“— and Live Stock LOCAL WHOLESALE PRICES. Eggs—Strictly fresh, per dozen, 36 Live Roosters, per 1b., 18; turkeys, 08:18' chickens, svrlnm per Ib., ts, young, each, 5 fowls, ressed chickens, ner 1b., 32a35; hens, per 1b., 3 roosters, per’ Ib., 20; turkeys, ‘per 50a55; keats, young, each, 60a70. P o -Dressed, small, per Ib., 12%a13. Live stock—Calves, choice, per Ib., 12%a13; hmbl. choice, per Ib., 8%; live hoge, per Ib., 5. reen frulu—Annlu. per bbl., 6.00a 10.60; per bu. basket, 2.50a3.25; west- ern, ' per box, 2.73a450. California lemon per box. 550a5.00; Callfornia er crate, 6.50a7.50. Grape-! orang fruit, 3. 5014 50. Florida orln‘!l. 4.002 | Armou: 5.00. Tangerines, 4.00a5.0f Ve'eublel—!’olnoeu. No 1, bbl, 75a4. per sack, 3.75a4.00; sweet Dolnloe!. per bbl., 2.50a4.00. Let- tuce, southern, per crate, 2.00a2.50. Cel- ery, per doz.. 1.00a1.2. Romaine let- tuoe. 1.26a2.00. Cymblings, per crate, 4.50a5.00. Spinach, per bbl. .00a4.00. Onions, per 100-1b. sacl Cabbage, 3.50a3.75 per cwt. Cucum- bers, 3.0026.00. Eggplants, per crate, 4.00a5.00. Tomatoes, per box, Florida, 5.0028.00. Beans, 3.50a4.00 per basket. Sprouts, 20a30 per quart. Peppers, per crate, 3.50a4.50. —_——— GRAIN AND PROVISIONS. BALTIMORE, January 11 (Special). —Potatoes, new, 150 1bs., 3,40a3.65; No. 2, 2.00a2.25; 100 1bs.. 1.75a2.40; N 2, 1.00a1.25; sweets and yams, bbl, .0024.50; No. 2., 2.00a2.25; bu. lun.l 50a bu., 40. per ; No. 2, 50. Beans, hamper, 3.50. Beets, bu., 75a85. Brocoli, Cabbage, ton, 50.00260.00. Carrots, bu, 85a1.00. Cauliflowes ., Celery, doz., 76al.50; crate, Cucumbers, crate, ' 6.00a8.50. plants, crate, 3.00a3.50. Horse Yfld[!h bu., 4.00a4.25. Kale, bbl, 1.15a1.50. Lettuce, basket, 1.25a2.25. Oniol 100 1bs., 5.75a6.2! No. 2, 2.50al.; Oyster plants, bunch, $a$. Parsnips, bu., 75a90. Peas, hamper, 4.00a4.50. Peppers, crate, 4.00a6.50. Radishes, bunch, 4a5. Savoy cabbage, bu., 50a 65. Spinach, bu., 1.50al.75. Squash, crate, 4.00a4.50. Tomatoes, crate, 3.50a 6.50. Turnips, basket, 40a50. bbl.. 4.50a8.00; No. 2, 1.25a2.50; Apples, packed, 3.50a5.00; bu., 2.00a4.00. box apples, Cranberries, bbl.. 30.00a 35.00; grapefruit, box, 2.00a4.00. Oranges, box, 2.50a4.00. Tangerines, strap, 6.00a8.00. Strawberries, qt., 40 a50. Selling Prices at Noon. Wheat- . 1 red winter, spot, no quotations; No. 2 red winter, spot, 1 14‘% No. 2 red winter, garlicky, spot, 11 Cn?n—cah corn, old, yellow, quoted at 2.90 per bbl.; 3 corn, spot, 58%; 4 corn, spot, 56% per bu: corn, vellow, No. 2 domestic or better, 62 per bu. Oats—White, No. 2, 462461 per bu.; No. 2, 3, no 3, 44a45 per bu. Rye—Nearby, 85495 per b western export, spot, 87 quotations. Hay—Receipts, 62 tons; 18.00 to 21.00 for good timothy and mixed hay; 16.00 to 18.00 per ton for fair to good. 3 15. 801: range is to choice Straw- 1 rye, nominal, No. 1 wheat;, tangled, 11.00; No oats, nominal, 11.00a11.50. CHICAGO, January 11.—Wheat prices deveioped strength in the early trading today owing largely to ab- sence of confirmation of yesterday's reports that French banks were in trouble. Besides, bulls contended that the outlook for the new crop in the *| southwest remained doubtful. Selling pressure was light. Opening prices, which ranged from unchanged figures | Copper Expo to 1 cent higher, with May 1.09 to Commission house buying gave firm- ness to corn and oats. After opening % to 3% higher, May 62% to 53%. the corn market scored slight general Rains. Oats started % to % up, May 38 to 381, and then hardened a little more. Provisions rose with hogs and grain, Potatoes—Steady; receipts, 24 c total United States shipments, cars; Wisconsin round whites, sacke, 1.90a2.00 cwt.; do., bulk, 2.00a2.10 cw Michigan, sacked, 2.10 cwt. NEW YORK, January 1l.—Lard— Steadler; middle west, 9.50a9.60; other articles unchanged. —_—————— COTTON MARKETS NEW YORK, January 11.—The cot- ton market was nervous and unset- tled early today, owing largely to reports of an easing spot ba: and apprehension of spot liquidation in the south. First prices here were barely steady at a decline of 1 to 14 points, with March selling at 17.86 and May at 17.5]1, making new low ground for the movement and a break of 1.30 to 1.50 points from the high level of early last week. South- ern spot interests were reported sell- ers on the decline, while there was further scattering liquidation or local pressure, which was absorbed by covering and trade buying at the lower prices. Futures opened barely steady. Jan- uary, 18.00; March, 17.88; May, 17.53; July, 17.04, and October, 16.38. NEW ORLEANS, January 11.—Poor cables and claims on the short side of freer offerings of spots put the cotton market lower today. In the first half hour of the session prices lost 18 to 24 points, March dropping to 16.80. A considerable portion of the selling ap- parently came from liquidating longs, and it was floor gossip that, as the market dropped, stop-loss orders were caught on the long side. Futures opened steady. 17.00; 16.4 LIVERPOOL, January 11.—Cotton, spot, quiet; prices steady. Good mid- dling, 11.47; fully middling, 11.07; mid- dling, 10.72; low middling, 9.57; good ordina; 02, ordinary, 7.27. Sales, 7,000 bales, including 6,000 American. Recelipts, 9,000 bales, all American. Futures closed easy. January, 10.53: March, 10.47; May, 10.38; July, 10.25; @ Janua March, 16.87; May, 16.80; July) : October, 15.65. % | September, 9.95; October, 9.79; Decem- ber, 9.6 —— DAIRY MARKETS. BALTIMORE, January 11 (Special). —Live poultry—Turkeys, pound, 48a 50; old toms, 45: poor and crooked breasts, 37a38; chickens, 30a32; staggy. thin and white leghorns, 22425; old hens, 25a30; small and white leghorns, 23a24; old roosters, 15a16; ducks, 23a 28; geese, 20a36; pigeons, pair, 25230; guinea fowl, each, 25a50. Dressed poultry—Turkeys, pound, 46a50; old toms, 45; poorly dressed and thin, 38; chickens, 25a30; old ro rs, 16a18; ducks, 25a30; geese, 23a28; capons, 30a38. Eggs (loss off)—Native and nearby, firsts, dozen, 35a36; southern, 32a33. Butter—Creamery, faney, pound, 39 240; prints, 40a432; nnrby, creamery, 365a36; ladles, 26a28; rolls, 20a24; store pal:k!fl. 20a21; dairy prints, 20a24, process butter, 33a34. NEW YORK, January 11—Butter steady; receipts, 10 597 package ‘BB, firmer; receipts, 13,783 cases. Fresh gathered, extra firsts, 35a36; firsts, 32a 34; New Jersey hennery whites, extra fancy candled selections, 48; nearby and nearby western hennery whites, firsts Ccy, 37242; nearby and hennery browns, eese, irregular; rece!ptn. 2,080 boxes. tate, mlo milk, fi fruh, 30220%; state, twins, specials, 21a21%; do., average run, 20a20%. Poultry, live, irregular; chickens, 23a26; fowls, 25a31; roosters, 16. Dressed poultry quiet, prices’ un- changed. e — FOREIGN EXCHANGE. Belling checks—dollar values at noon today. Budapest o of BR opmans e Stockholm .. A New York Stock Exchange mem- bership was sold for $93,000, an in crease of $2,000 over the last pre: vious sale. fi:y—mh -killed spring | U. 1.09% and July, 98% to 987%, were| 5 followed by material further gains. H. g Es ; §§ ___5________31_________“_______________ U. 8. LIBERTY BON! OTHER BONDS. €ity of Rio de Janeiro 8s, 1046. French Government 88, ma French _Government 7 95 1s 108 | ci o g 16 Gom Uaited Kindom 5 United Kingdom 5% 193 American’ Agri. Chem. 'T%s, American Tel nd Tel (‘0!' s, r & 4%, Afchivon, Topéka and P Atlantic’ Coast Line 7, 1f 105 1 Atlantic Refining Co. 63%s, 1931 104:2 Atlas Powder 7i4s, 1088 Baltimore and Ohio conv. 4%3s. % Baltimore and_Ohfo ", " 193 % Baltimore and Ohlo §. Bethlehem Steel P. Brooklyn Edison 7a 1940. Burlington (N. P.-G. N Ganadian ™ Nil-Can. Ganaa L3ty Nor. &, ian Nor. 7s, 1 Pacific 4a '1049. ake and Ohio con: ake and Obio conv. Mil. aul cons Chicago Northwestern 68 Tode 0 Tt. Teland and Pacific refd. 4s, 1934 Chicago Union Station 6143, 1063 Cuba Cane Sugar 7s 1 Delaware and Hudson 7 Du Pont Tis, 1931. Erle General 'Lien General Electric 6s 1940, Goodyear Tire and Rubber Co. 8, 1941. Grand Trunk 7s, 1940. Great Northern 7 Tilnols ~ Central ringfl Louisville and N 1153 Missour], Kansas and Te; Missour!' Paelfic general . 1975 New York New York Telephove 6s, Norfolk and Western cons. ds Norfolk and Western conv. Northern Pacitic 4 e Packard Motor 98% Pennsylvania Gs, 41y i R R, 1051 Feavesivania 13 of 1050 1075 ennsylvania general mortga, Reading - general 46, 1007 83 St. Lonis and San Francisco &% &t Louis and &an Francisco fuc &5, 1960 Seaboard Air Line 6s. 1043 Seaboard Air Line refds. 1959, Reaboard AIF Line ad). e, jo4n. Southern Pacifc st et 4s, 1955 Southern Pacific cony. 4 Southern Rallway geners! u Southern 1994, Tlon Bacite Tot 4n, 2008, Union Pacific conv. 4s. 1027 Unton, Plemc 6s, 1928, "nited 8u, 1041 [ & Reaty. and lm; Rubber ¥ & Rubber 7% attea States. seeet ) Vacuum Oil Corp. 7s. 1936. Virginla-Carolina Chemical 'm,- 1982 Western Union_ 6148, 1938, Wilson & Co. 1st 6s, 1941. SHORT-TERM SECURITIES. (Furnished by Redmond & Co.) 3 "i Americsn Tel. & Tel. 6o 1922.. American Tel, & Tel. 6s Tz 1922, American Thread Co. 68 American Tobacco Co. 7 3 American Tobacco Co. s 1923 Anaconda Copper 6s 1929 Anglo-American OIl 7ia Armour & Co. 7s_1980. Rethleliem Steel 7s 19: Bethlehenr Steel 75 1923 Bethlehem Steel Ts 1935 1t “oil hnrvunlion J. Heinz 7s 1930. Hocking Valley @s 192 Humble Ofl 7s 1923. Kennecott Copper 7 1930. Proctor & Gamble 7s 1922 Proctor & Gamble R. J. Revuolds s 1052, Sears, Roebuck & Co. Sears, Roebuck & Co. Siuclair Con. Ol 7i4e 1925 thern Rallway 8s 1922. Southwestern Bell Ta 1925 ift & Co, 7s 1925. 7a 1931, ift & Co. 104 W!nth(lm EL & M1y 105% U. 8. TREASURY CEKTIFICATES, —— Noog.—— Eate_Maturtty, February " 16, 1922.. erth 15, 1922, 3ian March 15, 292200 $3a Nareh 15, e 158 August 1, 1 138 Reptember 15, 518 September 15, -32 4158 December 15, 8520 10108 100316 53,8 June 15, 1924, 102 0% 5%8 September 15, 1024.... 1021-16 15516 —_— DRY GOODS STAGNANT. Prices Hold Steady, However, in - New York Market. NEW YORK, January 11 (Special). —Business was almost at a stand- still in the gray goods markets to- day, but prices held steady.. Some mills are becoming firmer in their asking prices, being confident of livelier trading with their improve- ment in finished goods trading, which is expected soon. There is no expec- tation of broad activity this month, but many reasons are given Wiy a very fair demand ought to come forward in the near future. It is recognized that prices must be kept within popular ranges If consumption is to be maintained on the 1921 level. Print clof sold to- day on a basis of 7 cents for 39-inch 56x44s. Sheetings markets were quiet. VIRGINIA BANK PROBE. Col. Blundon on Trial for Alleged Fund Misappropriation. RICHMOND, Va., January 11.—Af- fair sof the Commonwealth ‘National Bank of Reedville are reported to have been handled in an unsatisfac- tory manner several months befors the institution was destroyed by fire on the morning of January 31, 192 Thomas H. Davis, national bank ex- aminer, so testified at the opening of the trail of Col. H. Gordon Blundon, in United States district court here. Col. Blundon has been indicted on sixteen counts for alleged misappropriation of funds of the institution, which was robbed on the night of the fire. Citizens of _Petersburg, Norfolk, Richmond, Reedville, ‘Baltimore, Washington and other ities are among the witnesses. SUGAR MARKET STEADY. NEW YORK, Januery 1 10.—The Taw sugar steady ind unchanged at 1 T Tite Tor Cubas, cost and freight, equal to 3.5¢ for centrifugal. Trading in raw sugar futures was fairly active and prices, after de- clining 1_to 3 points under trade gelling, on buying | n Y e market for Wi ehi;!:\‘od at 4.80 to I.!O for fine granu- lated. There was a good inquiry, with several refiners unable to make t shipment. plg;-flna futures were without trans- 2 i i PARIS BOURSE HEAVY. PARIS, January 11.—Prices were heavy on the bourse today. Three per cent rentes 66 francs. Exchange on London, 51 francs, 15 centimes. 5 per cent loan, 80 francs, 20 times. ce"ll'he dollar was quoted at 12 francs, 9% centimes. —_— BAR SILVER QUOTATIONS. 4 NEW YORK, January 11.—Foreign bar silver, 66; Mexican dollars, 50%. LONDON, January 1l—Bar silver, IB* pence per ounce; money, 2% per Dlmunt rates—Short bills, 3% ‘per cent; three-month bills, 3 7-16a3% per acat, % | Btandard Oil (Furnished by W. B Hibbs & Co.) P+ Riat Conmanrgatecs 8alt Creek Producin Balt Creek (new) Bapulpa_com. U.8. Light and Heat com. . 8. Light and Heat pfd. ront. Bharing hip_Corporatior OIL STOCES. Anglo-American il Co. Borne-Scrymser Buckeye Pipe Line Co.. Cheseborough lhnnnrlurinl Co. Continenta) O}l (new).. Pennsylvania Mexican Foel Prairie Oil and Gas Co. Prairie Pipe Line Co. Solar Refining Co... Southern Pipe Line Co. South Perin. 0il Co.. Southwest. ‘Penn. Pipe - §8~8 Standard Oil 329 353 Washington Oli" Co.. ENORMOUS DEMAND FOR LIBERTYS AND VICTORYS NEW YORK, January 11.—Invest- ment demand for United States gov- ernment war issues, despite the fact that they are at highest prices for a year or more, continued in enor- mous proportions on the stock ex- change today. Up to 1::50 o'clock liberty bonds and victory note sales approximated $15,000,000 par value. Trading was most extensive in liberty 2d, 3d and 4th 4%s. Liberty 3d 4%s and victory 3%s were the only exceptions to the long list of maximum quotations, which ran from 14 cents to 40 cents per hundred dollars. Buying came from various quar- ters, including out-of-town sources, and was supplemented by heavy pri- vate dealings, banks, trust companies, fnsurance companies and other large corporation interests being credited with furnishing the greater propor- tion of the demand. HEAVIER CREDITS GIVEN AGRICULTURAL REGIONS Gov. Harding Says It Is Not True Board Has Been Hostile to Farmers. NEW YORK, January 11.—Heavier credits have been extended to federal reserve banks in the agricultural re- gions than to those in sections where trade and commerce predominate, W. P. G. Harding, governor of the fed- eral reserve board, declared at a meet- ing of the New York Board of Trade and Transportation. Gov. Harding offered this as sub- stantiation of his emphatic denial of the charge that the federal reserve board had shown itself hostile to farm or crop loans. He also opposed efforts to amend the bankmg laws in favor of the agricultural interests. “It is not true,” he said, “that the federal reserve board is hostile to the farmers. We all know that agricul- ture is one of the most fundamental activities in the country, represent- ing 40 per cent of its buying power. But we should stand against any leg- islation designed to favor oné class at the expense of other classes. They are all interdependent.” Four things—high taxation, na- tional, state and local; the high cost of transportation, high rents and the high cost of fuel—stand at present in the way of a return to normal condi- tions, Gov. Harding told the board members. Money conditions, he said, were easy, with the reserve system ready to accommodate Itself to an in- creased demand for currency with a return to prosperity. Charges of extra’ ance in salaries Dl.ld federal reserve bank _officials ere also taken up by Gov. Harding. 'I'. t'kal brains and judgment to op- erate a federal reserve bank,” he said, nd in order to get officials who can compcullly handle this business it is to pay salaries {n competi- tl ‘with other Mo to Loan Becured by first deed of trust on real estate. interest and mission. Joseph 1. Weller ! N;,, :'.;,,‘,T:f 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 wEpsEE insures your protectiov. Com- teous treatment. H. Russell Co. .Cfl.lStlll“K”Sb. Percy S.W. WOODRIDGE-LANG- DON SAVINGS & Asked. | o ’ COMMERCIAL 3 Sl 5 BANK, 2 Washington, . Dlnflct of Celumbis, at Fi4 E. D. Sampson, General Agent 50100t oF blnews ecember 31 TN “ 1125 Woodward Bullding 1' $ Furaiture ana nn’“-r‘-r“mu $60.00 Gacon 5 . Cash amount” due ,.a_.., 3% 3,5 !mm num-l ..n ..... 30.261.71 Olties gs )ovam' FOR CASE. 14. Checks on banks located outside rvice (new) 17 of city or town of reporting itias poeviae o hbe Exch e bank and other cash ftems. 7318 Cities Iervklvhylldr su,s al'lg 16. Other assets (expense) .. 63247 Commonwealt] —== Consolidated 1 GM l{lh treet N.W. Total ... : Conmm.m Motors 6?2! s S N = et Sold Capital ...J"é.‘}é"!"" 0 4aa¢ 7 5 18. Sus fus 1,802.66 EIk Basin ... Rall W ‘;*"':"":: e i y . 501‘{:? areka” Croesus. 2 Farrell Con S eel Spl mng ; Federal O, t 2030 poder oL sty Dermand Sepectts (oiher thas basic };:Hfll‘l:dflallelty Rasor Complete analysis in B 2 Deposits payable d:: Raen éo current issue of our v P | Guffey-Gilesp) “Securities and 'ra'm e a.'-na Seporiis (other I, Commodities Review” S S e Jerome V. S Copy sent upon request. Time “déposits days, or subject fo 30 days’ o Privete m. = : o -'i:n notice) and postal 2 principal citles. 3. Other thme ®. Total of time eposits, sy’ lnl‘ St 1% 143. u.nnme- other than those sbove % A. A. Housman & Co. iated” o Whing by __ameso Now York Exzchange m-mn of Columbia. City smmn s e -Exchange 1 P76 . CCLARE, Presianat ot e abers i Ex e A 73 ) Hew a0g beliet. P.'F. € restaent as | Rorthwesiers on™ L] ey e hes ana smersoibetoct swe chia Sk 2| gmar Ol (mew) Liverpool Gotten (Beal.) W. 8. TomBERT. . 7 oy Temsenone, e pothcer MAIN FLOOR CORRIDOR, Fruok M Heder, R w. conklin, Radlo pfd.. 'WOODWARD BUILDING 3L E Baldwin, o. Ry e Iom, e Sk L, J. Reynolds Bchluyler 8. ’Tmm, Eimer T g Mc‘ Directors. l 5 l Over a Sur connections locally and || Quarte: in other citics enable us to fur- & nish money in any amount for of a Washington Real Estate En-| terprises. Century Stone & Fairfax Without 1342 N. 242 Ffia:fififié a Loss. of | Somptiet | tained in joining the Equitable. i EQUITABLE | Study Your Investment Results for 1921. Profit by the Experience This Year | Assets . .....34365.396.73 i Sarplus . 11113298 | = X & H Study over your investment Join the Equitable and /|| list. With many people some 2 i|] of the investments are good— Save Systematically I| =ome doubttul—some bad. 2 systematic method prove difficult to ac- Great results are ob- The man who bought only our First Mortgages has re- ceived his interest payments promptly when due. and his in- vestment has at all times re- mained at par. Usles you adopt T i “much, Subseriptions for the 82d Issue of Stock If; Being Recelved Can the average investor show such a result? Shares, $2.50 Per Month || _Our 7% First Mo s offer opportunity for the safe placing of fund: an adequate return. B. F. SAUL CO. 4 Per Cent Interest EQUITABLE BUILDING 9I5F St. NW. ° and yield | JOHN JOY EDSON, President !: M FRANK P. REESIDE, Seety |l ortgage Loans | 1412 Eye St. NW. = Main 2100 American Telephone & Telegraph Ce. 129tk DIVIDEND Aividesd of Two Dollars an id on s of Uullt. on Tuesdar. o BLATRSMITH. Treasarer. E. H. Rollins & Sons 416 Woodw-rd Bldg. 15th & H Streets Washingten, D. C. Phone Main 2027-2028 Boston ew York Philadelphis. Chicago N eaver Praneisco The Shelton Loonu G.B.Chipman Manager Price 96 and Interest Yielding About 7.40% Descriptive Circular Upon Request Market Value 1007 ALLAN E. WALKER AND CO.’S FIRST TRUST NOTES are non-fluctuating, and always are worth 100 cents on the dollar. Is it not the preferable course to invest your funds where they will draw full 7% interest with positive safety, rather than to take a chance on a small amount additional in earnings, with danger to both interest and principal ? . Safe Secure In considering our first trust notes, secured by first mort- age on high-class Washington real estate, it is well to take into consideration the fact that in all the years no investor ever has lost a penny of either interest or principal. Notes $100 Up ALLANE WALKER & CO., Inc. 813 15th St. N.W. % Phillips’ First Mortgages are all for less than 50% of the ready market value of the property. They offer you— 1. Absolute Safety. 2. Reliable Security. 3. Liberal Income. 4. Insurance Against Loss. Protection Against Depreciation. Prompt Payment of Interest. 5. 6. 7. chnmantofl’nndpdmfilllntunhrny. Choice First Mortgage Investments $250 1,000 sm?vme for Booklet “S"—IT'S m‘se