Evening Star Newspaper, January 16, 1922, Page 23

S e RINANCIAL. =-~—7-"* -~ qHE EVENING STAR, WASHINGTON, ,D. C, MONDAY, JANUARY 16, 1922.° B FINANCIAT. RAILS SHOW VIGOR IN BROAD TRADING Atlanitc Coast Line and At- chison Feature in an Active Market Today. NEW YORK, January 16.—Opening prices in the stock market today pointed 10 a resumption of last week’s upward movement under guidance of rails, <aippings and oils. Delaware and Hudson, mercantile marine preferred, Atlantic Gulf, American International, andard Oil of California, California Petroleum and Royal Dutch were higher by fractions to 1 point. 3 St Paul common and preferred. Atchison, Atlantic CoastiLine, Baldwin Locomotive, Bethlehem ~ Steel and andler motor also added to recent ns. Famous plavers was strongest of the specialties, rising 2% points. Many Register Gains. Rails came forward with greater vigor during the active forenoon. Over a score of those issues, comprising al- most_every division. registered gains of 1 was shown by Atlantic Line and Atchison, the latter touching par for the first time in several year: Railway equipments, ~howed similar or larger gains, Ameri- van Locomotive. American Car and Locomotive rising 1 to almost 5 Numerous oils as well coppers and textiles also made appreciably headway. Offsetting features included Crucible Si 1l Asphalt, corn products and H\(r ational Paper at reactions of 1to 2 point Call money opened at 31; per cent. Stocks Actively Bought. n in the speculative quarters the ent feature was apparent. That . industrial and public utility at the best, a semi-investment - were actively bought by investors | were impelled by the diminishin bonds and higher grade in to turn into shares which are nably sure of their} dividen lnn which still are rated as ‘Among these Studebaker and Chand- ler Motors e conspicious as were North Am 1. People’s Gas, Alis Chalmers and the Equipments. . It was apparent that there was no big specu- ng, from the way the ted in favor of stocks mong non-div vers the motor accessories shares moved in sympathy with “the motor group, and there were various others which were strong. But in the main this class of stocks were 20t the le: as they would have been in a real speculative movement. In comparison with the dealing in honds and stocks on the stock ex- change the other movements of the day were of minor interest. Sterling and francs were both strong, reflect- ing the over-Sunday developments which seemed to give more assur- ance that the new French govern- ment would not interfere with their important projects for reconstruc- tion, especially the gathering at Genoa in March. But the advance in these exchanges was relatively small. A more significant feature was the continued heaviness in German marks. Industrial Features. There was very little new in con- nection with the individual moves in the industrial division of the list, that very little that had not been pointed out before. Friends of Stude- haker were extremely enthusiastic about its nces. One house, in its morning letter. comparing Studebaker with Corn Products, said that while Corn Products was reasonably cer- tain to sell above 125. it was not as certain of its dividend as Studebaker was. Another house which repre- sents large market interests in the stock compared Studebaker with Baldwin Locomotive, both 7 per cent dividend payers, much to the ad- vantage of the former. It predicted that in coming months, instead of selling 10 points under Raldwin. Studebaker will be selling 25 points higher. Wentern Union Picks Up. { ern Union stock sold down as low as 76 last summer on talk of re- duction in the dividend. How poorly founded was this gossip 13 now brouzht out by the annual report showing $9.63 a share earned, as| against §7 distributed. Gross busi- s began to pick up toward the end of the vear, but the main thing was the better control which the company got over its operating ex- quarter it was able to more the decresed gross, and 1eport all net increases over the period last Another striking feature is that this good showing was made without any skimping of main- ten ”gn(l depreciation. In fact $17,753. s appropriated for these items in 1 1920, against $17,282,000 in Print Cloths in Fair Demand at Low Prices. NEW YORK, January 16 (Special). —Trading in the gray goods market was very light today. although lead- ing factors expressed confidence that the demand would revive shortly. Until raw cotton shows more sta- however, a large volume of not to be expected. Print ere in fair demand, but at prices below those at which mills were willing to sell. Bids for 64x60s, 35 vard southern at Sl were turn- d down. but there was some trading ith 8% generally asked. d fine yarn cloths gen- erally continued inactive, DRY GOODS QUIET. ' TOBACCO SALES LIGHT. LYNCHBURG. Va., January 15.— Tobacco sales were light here ll.!!! ek because of dry weather condi- tions. the sales amounting to only 142.900 pounds for the week. The market continues to hold strong, ex- | cepting on wrappers. which are slightly lower, due to a decreased demand. The ‘average price for the week was $21 an_exceptionally high price for dark stocks, RECORD LUMBER SHIPMENTS. NEW YORK, January 16.—Lumber. ment in Washington state believe the | Lo export trade in this commodigy in 1 will exceed the record of last ear of 300,000,000 reet. Atlantic coast states are expected to take lum- ber from the Pacific northwest this vear at the rate of 50,000,000 feet a month, much of it to move by ships through the Panama Canal. There! i a heavy movement of lumber from Washington to California, and the northbound freight rates have been | cut 20 per cent, as the vessels wish to get cargoes instead of ballast for the return voyages. OIL OUTPUT AT NEW HIGH. NEW YORK, January 16.—~The dally average oil production in the United States _established a new record of 1,413,450 barrels in the week ended January 7, an increae of 5,700 barrels daily compared with that of the preceding week, according to official figures. 3 ‘The production increased 6,450 bar- Tels in the north Louisiana-Arkansas division and 5000 in California, but declined 6,775 in the central Texas district, In which is the new Mexia field. A dally average production of 807,525 barrels in the midcontinent fleld was an increase of 177,735 com- pared with the preceding week's average. —_———— One big department store in St Louis is equipped with a spacious garage, where cul(omers may park thelr cars free of char; Il—,'rm& Rubber 28% 28 28 | Harris Forbes & Company are of- | Lehigh Valley..... fering $1,000,000 Providence, R. L. 4% \ o 98 98t - : ! Manhattan Elev. NEW YORK STOCK EXCHANGE | BOND AND CURB MARKETS. Mool ., l EQUITABLE 3 LOANS / Received by Private Wire Direct to The Star Office. 1o 0uF comnettions focally and en e - 5 Open. High. Low. Closs. Open. High. (Furotabed "’ Redmond & Co) i b’ e O Co-Operative Building nish money in any amount for If you have money to ine pes N U. 8. LIBERTY BONDS. 3 % YNH&Hart... 1 255 p.m, STOCKS. Ba. Asked. Sia Washington Real Estate En- Adams Express... 1% 5 e NYOnt& West... w 2 8 Liberty 8%s. 55 bii | Acme Packing. 00 \ WAkt vest we can safely pléce ;‘t on Air Reduction. ... §2 Norfolk & Wi . %% i U 8. 97.88 s gilt-edge first D. orte nbber e 8% Norfolk & Wet pf. s % Organisea 1879 Stone & Fairfax i AlNed Chomicai. . i e North America.... 4o i 5 424 YEAR COMPLETED 1342 N. Y. Ave. Matn 2424{} €3gcs. Our record of 30 years :}l':- (éhh-mm 9% b Korth American pt. w/, ey o182 i kil insures your protection. Cour« s Chalmers pr. % Nartharn b o L Ha Assets . 84,385,398 5 L us $1,111,63298 eous treatment. F. 58 B ESERENOT ¥ : &8 | s LIBERTY BONDS a% Satario ilver d OTHER BONDS. Noon. J ""s"' fl'; Equitable and BOUGHT FOR CAFH. ! Percy H. Russell Co. % oum Circuit.. 10% City of Rlo de Janeiro 8s 1046, 1013 | GAriS” yndi ave Systematicall i i # Ol Blevator-t... it sk 1 13 | 0 B dn Joeko e g | o aplei i 2 y Bond Ex €| S.W.Cor. I5th & “K” Sta. % Otls Steel. .. French Government 7Tigs 1941, . Cities Bervice (old 1007 163 Usless vou adopt & wystematic method U% P Government of Bwitzeriand e 1040...... 11" | Cltles Bervice wid. 52 53 Il o savings 1t Wil prove dimcult to se- 604 14th Street NW. . 9% un.;m.m of Belgium 19,- 1945, + 107% | Commonwealth Finance, 8 50, complish "much. Great results are ob- w ¥n 1046, - 101% | Conmolidated Copper 18 1% || taived fo Joialag the Equitab 182 g %o : 1003 | Continentat Motors s atat mo Subscriptions for the i Farieh & Bingham : 5 aion” O - S 82d Issue of Stock 0, Until 5:30 PM. Toda Am Hide & Leapf. 60 60 Pennsylvania American Agri. -l * | pen Until 5: 5 y L % : Peopl g i : Am Tnternational. 40% Pere. Msrquette. .. 1 Shares, $2.50 Per Month b il T * Am T France.... %% Pere Marq pt At - ® 4 Fex/Cant dntereet " ; rl t ee il .;‘& ::‘:-Commny- 4 b | Fensland 0l n":“ ITABLE LA YL I OT ] m T ocamative. .. illips J. Bulth d Ohio 63 1929. -oo-. 97% | Gilliland Ol 5 ABLE BUILDING 1 i 2 Am Safate Razor.. 4% Do et - ltimors wui e s "W! Dl i 5 89 Glen " Ale : gag EQU! N, —(January 17 to 23) begins tomor- ADENIn & Com T : :xm;x”l,'fi"‘mifin i i e fu'u"mfim.‘;" c R B o 2‘1,5 l; Es‘on !"“ row, and as today is PAYDAY, you 4 5 p X A Am Smeltine of... #9% aiadtan NoL-Cans b f10% | Iaeereontinensal ibiie o i 2O oK RO Secy have a good chance to start the week AmEseci¥ay. =N Plerce Oll p o 3918 | Jerome Verds Sl well by opening a SAVINGS AC- A Seeacars i e e “ COUNT at Washington’s OLDEST Am Cumaten. uY% Pressed Steel Ca: 24 National Bank. We're open today Am Samatea of... T Pressed Stl Car pf. 28% until 5:30 p.m. {{ONE DOLLAR or more will open s Am ™ol & Taleg, .. 1N producers & Ref. .. 9 I Am Tohacco. 1% 19 Pro & Ref pt.. g0 _Union Station H‘s- lm Am Tahacen (RY. 150 Public Serv of N J. % | Cuba, Cane uger s 1930, -] it n < -m:;»um:' ;vn ;:. Pullman Co. s " y . s 1% Miaw 3y, 4 N a THRIFT ACCOUNT. Am Wa Wo 7% pf . . K n v 1 - a5l T 1y 12 HARMMAN&G’ 1% e A : 7 R &2 3% Paid on Savmgs Accounts e | et A MEMBERS: n e 0 0 an ank c."Mar. . 235 | Omar 01l (new) oS "y Reading 1st Int. 1968 61% Pennok Ol 9 tl IO T et S 8|S NewYork Stock Exchange atlo At 1o O . .. = % Afiantie monit Co. 34 M 3 34) RERELen Tpr. o 990 78, Ml com 111 Broadway: New York Capital, Surplus & Undivided Profiu Over $1,500,000.00 Artantie culr 2 » Rep Motor Truck. Yew York s, 1890, 100 | ey i 2 15th St., Opposite U. S. Treasury—108 Years Old Detwin Laen ) g Royal Dutch New York Telephone o, 141, 108% | Liyau Consolidated. : 21Awin Toco pf. . 108 rfolk and Western 5 ... B8 lNait Creek Produciug........... 80 ... Palta & Ohin, - StL & San Frpf... 39 k v 1829, 105% | Sult Creek (new). 1415 Dalta A Ohione. .. KAl 8t Louis Southwn. r cific ds, 1998, 5;}‘ BavalpNcuin d;& Rarnett Leather.. 4 St Louls Sown pt. . 908 T8 1 s o B 14 o 5 [ Saxon Motors. i R T S o T :2|N Washington- Office . | Sears Roebuc! of DT 108y 20 Raoth Pluh‘:‘r:fl. . Seneca Copper. L2 $ g N COLORADO BUILDING Y Rklvn Ranid Ten.. 7 4 Shattuck-Arizona. 9 St. - o, | " Rilyn Ran Tr otfe, 7% q Shell Trad & Tran, 3 Sab Francisce e 5% | Eeacbah, Kxtension. 1% . o s1ours Rk'vn TTnion Gas.. 7% ¢ | Sinclalr oi1 AL iee e raok e 100" Telephone Main 1603 S opy . Air Line 1004 o . Burns Bros B. So Porto Rico Sug. 2 ALL STOCKS RumeIonE Southura Easine L i ) for the Asking ®|utte & Super outhern Raflway. Sthoin 3 an Ruttarick. Southern Ry pf. .. Tnitners i) G.B.Chipm: Caddaon. . Stand Oil of Cal. w Manager Califarnia Peke. Californin Patrol. Fanadian Pacific. Fentral Leather. antral Veath pf Faven Aa Taang Certain-Teed. Stand Ollof N J. Stand Oil N J pf. Stewart-Warner. Stromberg Carb Studebaker. Studebaker p X Temtor Corn (A). . > Armour Leather com.. Armour Leather p: This book enables you to com- Fhandler Moto! , = Tenn Coppe: 3 . for the it 11 ye :h:.p‘:flh‘:' ‘:’fl . _1]::: g",““""’ . SHOR M SECURITIES. OIL STOCKS. :l":upr::hmhn:d: the TN R & Bt 10 ‘ 3% | 7 ae & Pac Curlsclisy Beicde 2 F 4 L York Stock Exchange, divided as Chi & Estn Tl pfd. 8% Texas & PC& Oil, Qi Co. (new).. o er ram follows: hi-Great Westn.. 6% Third Avenu aerican TeL L Tl Buckee Fipe Li g SuTn Locxramt & Co Chi M1 &SP, 184% Tobacco Prod. gh and low pre-war prices - Hij 1911, I‘)IZ 1913: high and low war- Cheseborough Mfy X ChiMI & Rt Pof.. :';i LA ‘Tobacco Prod pf Continental Ol % oTa 1o Fhi & Northwn. .. &% Trans Contl Ol1 Caexcent % g t' me prices— o inclusive: Chi & Northwn of. 101 0% Upion Bag & Papr. e R e ; ONntro high and low prices for 1920: high M RTE Pafia"'flf'-- a gnion gll 5 lena Sigaal Qil Co 5 low and closing prices for 1921 Chi R T& P 6% of. 1 : nion Pacific. | Galene Signal 011 : % ChHiRT&PT%DI. & Union Pacific of. [{Barkichent Rtcel 3 | Tndine Fie Line :. The book also gives the dividend Fhile Capper...... 16% United Alloy Steel. 26 record. and other im ortant ca‘a SUED | Canadinn Pacific Gs 1 Natlonal Transit ¢ 91 China Copner. g"‘fln Tank Car pt wn | Gontral " Areenting 4o B ll ld d 11 yen wani a copy or tis on all issues and contains a number Onited Prasi 242 B % || Bought, Sold, Quote ok ont you wikuleharae. CF letters from investors who have United Ry Inv pf.. 18 s the cdition is fimited. found safe'y. convenience and profi in the Partial Payment Pian which we originated 11 years ago. United Retail Strs U8 Food Prod 5 o i ndus Alco 2 4m Anby Packing U S Ind Alcohol pl. '“""" ey =388 US Realty. . rd Oll Co. = s s : G R B Smith, Lockhart & Co y 081, 90 B 380 o4 U8 Rubber 1at z"' { Humble: Ol 75, 3 Thomas L. Hume % 4 5 " Cons Gasof NY... @2l % @2 U S Steel y Procier s Gambie % T "' H 1 ‘The Partial Payment House Cons Textile....... W4 . U S Steel pf. A loge | Suandarg O ; Dreker ESTABLISHED 1911 Cont Can. . Corn Product Corn Products pf. Conden & Co. Crucible Steel. Crucible Steel pf Cuban-Am Sugar. Members Baltimore Stock Exchange Ground Floor. Continental Bldg. Baltimore. Maryland. G B R e (RS S r Conn. Oil Southern Kailway Wabash pf A Webber & Heilbrn Cuba Cane Sugar.. Wells-Fargo Exp. 9 V. ctr 1 1 Cuba Cane 8u ot Western Md. .. -y Westinghouse o6 7e b3 3 Navidson Chem. Western Md 2d.. .. Y 134 i g First Mortgage Del & Hudsen 3 Western Pacific e % 15 U. 8. TREASURY CE J 5 ' Del Lack & Win.. “: Western Pacpf. . 6 Bate_Maturity. B Detroit Edison Western Union. » February 9: 3 32 100532 0 Dome mna-..‘.. ‘3 ) Westhse E & M. I Mareh 1 2 5 £ 0 ND T T MECHesiiConl. - ¥ Wheeling & LE. s i c 1 “INVESTMENTS” can be se- M PAN Y gn::m::-gz"::':;h it ‘White Motor. R 00/9:32/100% cured now in amounts of ndicott-. 5 White Oil.... 4 = 13, s Erle 9 Wickwire Spencer 15 $i4a Tume 13, [ 1 % $250 Up to $10,000 i Wilson Company. 2% 3 100% 1 The only absolutely safe form of Willys-Overland. . : i o 1116 100 xi{fa investment yielding such & liberal rate Worthiagton Pmp % 45 453 [ §1a3 Denember = of interest. Eieher Body £ OPE 4% High. Low. Last, | JRuoe 10, 1924 S ARNE m?u cleat omeideration gives to a1l : fz“s CalMobeYen Pmetls " Certited _Certificates of Title sc- ®reeport Texas... 13 HOURLY SALES OF STOCKS. TROUSERS HAVE 20-INCH LEGS, || ompany each sote without cost to ia- = > svivania Av Gen Asphalt....... 5K U580 12m.......3B40 | \piw YORK, January 16.—The Chas. D. Sa 15th and Pennsylvamia Ave. Gen AspuICRE- . . B SR B - R0 iTors coatima WwillBAY e not ae e as. U, ger the apparel of the man of fashion' e i Capital ad Surplus, $5,400,000 —_— in spring clothing, for trousers with cuffs twenty inches in_circumference | will be in vogue, according to makers | here. One firm already has made up thirty-one suits with that type of ? the Gen Mot 7% deb... 8% Goodrich pf. eee 83% trousers. The trousers are not of Granby Consol “bel] cuff” style, but maintain tha - Secured by fest deed of trust en real estat Gray & Davis. cessive width throughout fliog interest 3"“-,‘_‘-& N rost Great Northern Df. mfi fongth. Coats also will be “rull* it Jose_ph Weller §i3 Great Nor Ore. is declared. Guantanamo Sug.. su 5% /—_—_—'\ 1921 Losses As 1921 ended, Secretary of BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, January 16.—Although the subscription books for the new i Railway T is an oft-repeated truism that a Steel Spring man’s social standing may be Hupp Motors. TNlinois Central... 101 Indllhomlfl. .‘.. ::2 $30,000,000 Southern Railway Com- (‘omm:x;fel H’oovard ehlllmklted Indian Refining. .. pany developmenteand general mort- Complete analysis in the year's losses and shrinkage fon... o% 2 5 f values for the United States 7 L gage 6 per cent bonds will not be Tt Mt o o e sk ual s Btates measured by the character of opened until 10 o'clock tomorrow i o morning at the offices of J. P. Morgan, cs“"m‘;.'s. ’"‘; T most every form of ‘security. syndicate managers, it was the belief ommodities Review’ et i SR in banking circles this afternoon that Copy sent upon request loss on our First Mortgage int Cement. . our war debt. It included al- Tntl Blrven?r Intl Mer Marin Tntl Mer Marind Intl Motor Truck.. 27 his friends and associates. With equal truth the modern business S A4 crth sk aw ders have aliready been received - Notes. Every holder of our e e r Private wires to mortgages had the satisfaction Tntl Nickel. . 12 heavily in excess of the issue. The rincipal cities. MortEag: A - E e e k. bonds il be offered at 4%, to yield z - S necaics man is judged by the character of Intl Paper (sta)... 68% more than 6.90 per cent. i or AN e Tolar? everylidny, Invincible Oil. during the year. Swartzell, Rheem The proceeds from the sale will be used to! meet the maturity on March > riousman 12 1 of the company's three-year se- cured gold notes to pay a demand New York Stock Exchange loan owed to the War Finance Cor- New York Cotton Exchange his banking relationship. SR R s & Hensey Co. ’ We wish to convince the man of KT Sprin Tire. ari capital expenditures, al || §] Simepcisas oot B 727 15th Street N.W. b idoals thineth ~Spring 8% p! 9% e government today announces Assoclate ersieris 5 Koloey Wheel ot {5:';:32'553%:"'533;" Jor 8 35000000 o 3.‘3..(“; Washington, D C. progresswe u(simesls 1 dez(li sft alt the of e fac at the Cuban govern- ashington e The Nation's Home Town n l e e b | P ooty Sele | s Kiegs Cotateen 52 Years W ihousLos 0 experience dnd sple acilities | Eackanna Sivs s s o00 oriCube elesbese i ioesm. Instusr of this institution enable us to offer Lima Locomoti lel Loco nf . per, cent water bonds, maturing in 1962. Bonds on the stock exchange today continued active and generally strong. There was'some slignt profit taking him today that kind of association most needed to insure success. during the afternoon in all sections F I R S I of the list, but the market maintained its firmness. , The movement in liberty 0 bonds was the same as on the last few days of the previous week. They Manhattan Snirt.. 5% Market StRy..... 3% o Seiwere sott, while the loans of foreign The Safest Security on Earth Market St prior... governments were steady. Dominion Marland Oil....... 2% i "24% | of Canada 5s of 1926 and 1931 both ort, 1.1; Martin-Parry..... 22 2% rose to their highest in over a year. Phillips’ First Mortgages are all for than Belgian 7%s and 8s and Toklo 65|} 509% of the ready market value of the property. likewise struck new tops. el They offer you— FOREIGN EXCHANGE. | 1. Absolute Safety. - : L St 2. Reliable Security. 3. Liberal Income. 4. Insurance Against Loss. . 5. Protection Against Depreciation. 6. Prompt Payment of Interest. 7. Repayment of Principal in full at Maturity. NEW YORK, January 16.—Foreign Choice First Mortgage lnveotments xchange, irregular. Great Britain, Gemand, 4.22%: cabies, 4.53%. Slixty- N $100 $250 1,000 day %ills on banks, 4.19%. Bookl mand, 8.20%; cables, 8?21. Weiteifos et rr.s FREB mand, 4.403%: cables, 4.41. demand, T.81% cables, 782, y. demand, bles, .55. Holland, de. mand, alsln ugu.d:nc‘ Norway: de- e ‘mand, W l, ). L Denmark. demand, 1055 Baicserland. Safe Investments pain, demand, 16.00. : 4, e Argenting, do- 1409 New York Ave. Main 88 I demand, 12.87. 3% Interest on Savings McIntyre Mine. Mexican Pete Miamt Copper. HOME SAVINGS BRANCHES 7th and Mass. Ave. . 8th and H Sts. N.W. 436 7th St. SW lontgomery Ward 13% l‘l\l“lnl Body. 2% geEgn;utznegsgy.ngy 8 =:E=§;=‘z*§:§_§:-sz;