Evening Star Newspaper, March 1, 1922, Page 29

TRADE UNDERCURRENTS SHOW T BANKSBREAK Montk—Mergenthaler Doing Well. With bank clearings for February totaling $67,181,369, Washington banks registered the largest re- : for any February in the his- tory of local banking. Clearings for the corresponding month last year were $63.457.801, and for February, 1920, X¥64.625.838. The current re- ceipts, however, were about $10.000,- 0090 less than those during January, Wergenthaler Husiness Good. While orders have not yet ma- terialized at a rate to engage the capacity of the company, which was increased 30 per cent by the erec tion of the new §1,000,000 factory and office building in Brooklyn. Mer- genthaler Linotype Company sales so far this vear are holding up fairly well to the corresponding time last year. The total sales for 1921 were about 2,500. The company now has to turn out about 3,500 to nes in a year. aler is «—mploylng_ about compared with 2,800 last Octobe: oduction per employe has Jargely increased. In effect the wage e was decreased at that time Dy a change to a forty-eight-hour week, compared with forty-four hours pre- viously, equal to an actual decrease in wages of $ per cent to 10 per cent for those who were not on a plece- 1 » ecarnings figures are available nce the date of the last annual report, the company has re- duced bank loans to about 33,800,000, compared with about $4,612,500 on ctober 1, last - U eduction i _bank loans, lower Jabor costs and fair volume of busl- ness all forecast a satisfactory bal- ance sheet and income account I_, the fiscal year ending October 1, 19.[-. Stock of the company recently sold At about 145, compared with a low last year in the neighborhood of 118. Ny inancing is cgutemplal 3 N bout 50 per cemt of the office force own Mergenthaler stock, according 1o the officials, the purchase having been assisted by an official of the company when it was selling at l-fl: The company has also an employes’ representation plan, which has been in effect for several years. Dollar Acceptance Credit. : The volume of American bankers dollur acceptances declined during “\l'l?['_”l":)y about tcoo,‘(}o»,‘ou‘\:; an $600,000,000, or about llmnu:d" the $1.000,000,000 per cent 00,00 Iiark that was constant for the twe preceding years, according to l‘ e current issue of Acceptance Bulletin, the official ergan ol the American cceptunce Council. At e of such a greatly dimin- ishedl use of dollar acceptance crect must be found outside of the shrink- age of goods and commodity values i 4 as ele 2 "“N"dfl:mes include the stagnation with countries whose im- nd exports normally are through three or four credits and the changed jee with respect to exports to uropean countrics whose importers formally provided time credits, bu now more and more are providing credits—that is, paying dollars sight 3 ¥ New York against documents or ts in Europe. sight dra - ————— NATIONAL LEAD EARNINGS. ;W YORK. March 1.—Net earn- ¢ National lLead in 1921, after and federal taxes, totaled 1,512, equal, after preferred div- i equirements, to $8.59 a share “lem:r:» q:é«,s;s.;-m common stock, ted with §14.67 a share earned The balance sheet shows a reduction in accounts and “The former were re- 2,878,922 and the 700 to $588,383. The an- 1 t says the company L iefe Smuintain the present 6 per ‘cent dividend. rate on common, but &n increase is not expected, n Vleaw of the disturbed and uncertain conditions.” Washington Stock Exchange duced $1 latter $3, < W at shington Gas 90. A Ani b 000 at 105%, $300 uzton Gas —$500 ut_95. ay aud El 1.000 at 971, ? Washington Railway and 81 66%. 5 ut 6%, b at 66l 5 Washington Gas Light—: b Tanston Monotype—20 at 72, 20 at 2, 10 10 at at 48, 25 at ! fergenthaler Linotspe—10 at 130, 151, om0 2t D055 tal Traction—10 at 85%. CaPiial Traction s—$500 &t 05%. Money—Call loans, 5a6é per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bl Ei BRRERRIREALLRERR: Ed e & m. % Pow. g. m. & ref. 7s. 1053, . and Mt Ve 23 Y 9GS 106% 105% 68% 69y Wash. Kwy. and Elec. g. m. 65, 97 7% MISCELLANEOUS. Riggs Realty Gs (long) 90 Riggs Realty 5s (short 97 Washingten Market 5s, 88 Washington Marke! 85 W. M. Cold Storage 5s. 8 STOCKS. PUBLIC_UTILITY. American Tel. and Telg: 119 e tal Traction - ‘Washington Norfolk_and Wash. Wash. Rwy. and Elec. com Wash. Rl d Elee. ptd ATIONAL BANK. % Ccapital 198 210 Columbi Al Commerce 50 District 170 Farmers sane Federal Liberty Lincoln National iy 2 Sebina Washington SAVINGS BANK. Bavings. U. 8. Savi w.-n\nno‘:'&icmm' FIRE INSURANCE. T TITLE INSURANCE. Columbia _Title . 5 Real Estate Title . - MISCELLANEOUS. Columbia Graphophoae com.... Columbia Graphoppone pfd. C. Pacer:Mfg.” Co. rehants® Transfer o 3 10 9 7 salon a 3475 Security Storage 3 7 72 320 Washington Market oosesssesasa & e st 000 at 903 | ectrie pfd.—5 . {H. Ingersoll & GENERAL IMPROVEMENT TREND FEBRUARY RECORD v aar. weee $67,181,300 Receipts Last| mistic Like Farmers and Bankers—Mail Order Houses BY C. G. MARSHALL. Special Dispatch to The Star. | undercurrents have set in, all flowing In the direction of general improve- ment. Merchants and manufacturers are beginning to experience some of the optimism which farmers and bankers have been feeling since the prices of farm products started to soar upward. With spring almost at hand, keen observers are already able to note an improvement of the busi- ness morale. Retallers in the large cities still complain that trade is dull. but the mail ofder houses all report steady and increasing business. Oue factor which has helped the mail order busi- ness has been the tendency of the smaller merchants to keep _their stocks too close. Collectlons are re- {ported little bLetter, but they have hardly had time as yet to reflect im- proved conditions. The credit situa- tion is decidedly easier. Building operations still are light and preparations for spring construc- | tlon are being retarded by labor dis- putes. . o Steel production in this distriot shows a stead® gain, with raliroads the heaviest buyers. Manufacturers of agricultural implements report a better inquiry from farmers. Return of cold weather has hardened produce markets, but fresh eggs have sold this week as low as 24 cents a dozen wholesale. Easter Apparel Demand Felt in Philadelphia Area BY FRANK D. McLAIN. Special Dispatch to The Star. PHILADELPHIA, March 1.—The Eas- ter demand for cloaks and suits is com- mencing to make itselt feit in this ter- ritory, and wholesalers and jobbers of dry goods report a slight increase in sales this week. The call for men's and boys' clothing is not heavy, however. Millinery houses are receiving some or- ders for the ‘spring season, which has not yet formally opened. The local textile milis are well occu- pled, as they nave been unaffected by labor troubles which prevail at some of the New England factories. Trading in the raw wool market has been fairly active, with prices firmly maintained. Numerous inquiries are being received by dealery in cement, lumber, glass, ! lighting fixtures, plumbing supplies and hardware in preparation for extensive spring building operations. Prospects never were better for a bumper crop of all kinds of fruit and wegetables in Delaware and New Jersey. Farmers in Delaware are returning to strawberry growing on a large scale. Tomato canneries are now being put in shape for a big year. The hide and leather markets here are | fairly active, but tanners are not pro- ducing at much more than 50 per cent of capacity.’ Manufacturers of cigars of recognized brands report a good de- mand and there has been some improve- ment in the busines~ .n leaf tobacco. Carnival at New Orleans Is Big Stimulant to Trade BY L V. SHANNON, Special Dispatch to The Star. NEW ORLEANS, March 1.—Retail trade in every line here has been greatly stimulated by carnival visi- tors. These outnumber those who have gathered for any mardi gras season since before the war. Results have Been so-satisfactory that the carnival season may be extended and new attractions added to bring visi- tors next year. Retailers have already begun to dis- play spring 4nd summer goods and the mild weather is creating a demand for them, Sales are holding up very well and are running only about 10 per cent below those of the corresponding period of last year in money value. Jobbers of dry goods report distribu- tion for February was 10 to 15 per cent greater than for the correspond- ing 1921 perfod. i The advance in prices and the sta- i bilization of the markets for agricul- {tural products is having a marked jeffect on sentiment throughout this | section. Field work is making good Iprogress and optimism is returning jamong the farmers as they see an im- f ing of their crops. The state highway commission will let contracts for five and a half million dollars’ worth of highway improvement work between now and May 1. About -$3,000,000 'worth of work now is under way. Commodity Reports From Various Sections ‘Watches. NEW “YORK, March 1 (Special).— Unless an offer of at least $1,500,000 is received for the assets of Robert Bro., watch manufac- turers, before April 10, the assets will be sold-at auction. An offer of $1,100,- 000 from the Waterbury Cloék Com- % !pany has beea rejected. Onmions.: PORTLAND, Oreg., March 1 (Spe- cial).—The Oregon onion season is about over. About 375 cars of onions have been moved out of Portland so far this year. Lumber. ‘SAN FRANCISCO, March 1 (Spe- cial).—Pacific coast and Canadian .mills report an increase in the de- mand for lumber, and big cargoes are going to the east coast by way of the Panama canal. The orient trade has experienced a slump, but southwest and middle west demand is increas- ing. Prices are trending upward, with predictions of scarcity. Ostrick Plumes. LONDON, March 1 (Special).—Amer- ican buyers are making few and small purchases in the market for ostrich feathers here. Prices have fallen off slightly for the ordigary grades of wing feathers. Jewelry. NEW YORK. March 1 (Special).— Jewelry i8 moving with more regu- larity, and retallers are replenishing their stocks more freely. The recent reduction of 35 per cent in the prices of small diamonds, which cut to one- quarter-carat or less, {s expected to do much toward stabilizing the mar- ket. ' The prices of large diamonds continue to move upward. Automobiles. KANSAS CITY, March 1 (Special).— The recent automobile show did not roduce the direct business hoped for by local dealers, but final results cannot be determined until the pros- pects obtained have been worked. Steel. CHICAGO, March 1 (Special).— TUnited States Steel Corporation plants in this section are working between 55 and 60 per. cént of capacity, while the leading independent producer is working at 60 per cent. One large concern has just booked orders for 12,000 kegs of railroad spikes, 6,000 kegs of bolts, 2,500 tons of angle bar ««!joints and 4,000 tons of tie plates. PITTSBURGH, March 1 (Special).— Bars, plates and shapes are selling more freely at $1.40 than at $1.45 or $1.50. Sheets are in good demand, with the building and automobile trades calling for larger amounis than a few weeks ago. Biue annealed are quoted at $2.25, black at $8 ltll“‘ uo galvanized at $4. Tin plate base, Standard Business Men Getting Opti- | Lead Activity. is In better demand, with mills on a 60 per cent producing basis. ST. PAUL, March 1 (Special).—The CHICAGO. March 1.—Outwardly o)y Nortitern Railroad s proparing business conditions In the middle |to apend $1.350.000 for B new brlins west are about the same, but strong |across the Mississippl river. Work, it is expected, will start when the Wweather settles. Ceal. VANCOUVER, March 1 (Special).— The output of coal on Vancouver Island fell off sharply last year. This is attributed in some quarters to un- favorable industrial demand and to the igroads made by competition of American fuel ofl. CONNELLSVILLE, March 1 (Spe- clal).—If there is a strike In the union flelds on April 1, the mines of this district are in_a position to re- sume war-time production. Mines are being placed in readiness for such a condition and operators are prepared to make up the tonnage that might be lost in the union flelds. Eggs. ST. PAUL. March 1 Eggs have dropped to 35 cents a dozen, but a cold spell s forecast | and this is expected to check fur- ther decrease in prices. (Special).— Cottonn. ) BOSTON, March 1 (Special).—The cotton goods market coutinues very qulet. Many mills are still shut down by strikes and others are working only part time. There is a feeling among jobbers that there is no likellhood of a decline in prices of cotton goods. ‘Weol. HARRISBURG Pa., March 1 (Spe- cial).—The Pennaylvania Wool Grow- ers are urging that the Ohio system of pooling wool by growers be adopt- ed in this stat ‘The Pennsylvania men declare t| Ohio system is the most e in the United States. iz progre Grata. MINNEAPOLIS, March 1 (Spe- cial).—The recent rise in the price| of grain has increased the value of grain holdings of farmers of this, section by $15,000,000, according to bankers here. Live Stock. FORT WORTH, March 1 cial).—The advent of buyers Kansas and other midwestern states has made cattle sales direct from the ranches much more brisk. | Prunes. NEW YORK, March 1 (Special).— ‘alifornia - prune prices have ad-- vanced here and nearly all cheap stocks have been withdrawn from | the market. Several large operators ! are reported to have picked up bigt blocks of all sizes, which they are| now holding. Canned Geoods. CHICAGO, March 1 (Bpecial).— Canned tomatoes are in good demand in this market, although other canned goods are dull. cently sent to Missouri filled, but some tomato ity are coming ir from e ) otes. ST. PAUL, March 1 (Special).—The local real estate market is noticeably strong and has been aided by an- nouncement of plans for a new $1,- 000,000 department store, work on which will be started this spring. Many long term leases on business properties have been signed recently. Actual sales have been deterred by high taxes. NEW YORK, March 1 (Special).— Editions of many New York morn- ing and afternoon newspapers today were reduced in size and number. Web pressmen- failed to report in full numbers, while they considered whether they would accept the recent award on working conditions by Judge Manton, who acted as arbi- trator. The pressmen determined to- day to return to work pending a conference looking toward a review of the arbitration decision with the newspaper publishers. The Life Insurance of N. Y. ssues standard forms of life insurance and annuities, guaranteed by over Six Hundred Millions of assets. ‘Wanted—Men of Character to Solicit Business ic general provement in the outlook for dispos- | Ofices 423 to 429 Southera Buildisg THOMAS P. MORGAN, Manager. AM giving my personal at- tention to the placing of business insurance. You should be interested. Careful assistance will save you money. Union Central Life Insurance Company It Cests Less—Why Pay More? E. S. Brashears, Genl. Agt. 710 14th St. N.W. Organized 1867 Assets, $160,000.000 . o i P Mk 17922 Founded 1876 . 416 Woodward Bidg. 15th and H Streets Washingtes, D. C. Phone Main 2037-2038 Bhieage _Deavert gan raainte Wilson County, N. C. - 5%% Bonds Due March 1, 1927, to 29, Incl. At Prices to Yield Send for descriptive circwlar Life Policy, $57.35 Age 0. Sens date of birth for illustration. 1863.° Ausets ovar 3300 M. LE ROY GOFF, lnsurance Advl 11 by ; Roem 610, w:n-::d"mum. M. 80, First Mortgage 1% “INVESTMENTS" can be cured now Iin amounts of $250 Up to $10,000 The 1baolute safe f¢ T AR of_interest. same courtecus. prompt and ‘l?:'l‘l ‘conaideration ll'!: to’:ll ine veo! Certifisd Certificates of Title ac- each nute without cust to Is- Sager 923 Fifteenth St. N.W. Main 36—Loan Dept. IR, R c = . «=INSURANCE— Han established & ncheol of life insur- BOSS ,& P HE.LPS, FOR REm' ance n:om\:ll:u:m{-m companies are 1406 H St. N.W. Main 4349 Il\‘l‘aume Iflee:t o:_:'he What Is conceded to be the best |! - > jonal pial—de- the company that has ret to its Any Sum i F St. NW. the conveniently lo- e 1n O mmneaions sty sea|| 13191321 F St WLW. : g 1S e = ew er esiran.e . o s E DuSememem e Ar Vg Re” Elate 2" Offces Left Citizens Savings Bank “gt::: & Fairfax Reasonable Rents Heat, nlgfismNd jtn:o'reu!:\z. v.avee wwzen|l McKeever & Goss | | Southern exposure. Moderate S S S PR ] LW Rental Agents rental. Immediate puguion. 1405 Eye St. Main 4752 Apply at the BANK Washington Office COLORADO BUILDING * Telephone Main 1603 G.B.Chipman EQUITABLE Co-Operative Building Association - Organised 579 42d YEAR COMPLETED Annetn $4,365.306 73 Surplus ..81,111,632.96 Systematic Saving Has lelped many ople to financial independence and T: can help you. Put & smail part of your income away pay day. Our records contain many Bames of peovle who owe their suc- cess to this system. Subscriptions for the 82d Issue of Stock Being Recefved Shares, $2.50 Per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presldent FRANK P. REESIDE, Secy. ‘It has been our privilege to serve a most distinguished clientele for over twenty years. Foreign Spring Materials Now Ready i HENRY L. KAUFMAN Importing Tailor Manager 713 14th Street N.W. Your Money in Safe First Trust Notes No investor has ever lost a dollar. Secured by high-class real estate. collect interest and attend to all details. You get your....ccicescncscesosassscss Consult Our Loan Department LUCHS REALTORS If Without Warning —your life should be snatched instantly away, would your estate be divided according to your wishes? 0 We Every man has the right, with certain re- strictions, to dictate the division of his property after death. But this right can be exercised only by leaving a will. Make your will at once, while there is ample time to give the matter the thoughtful consid- __ STATEMENT OF THE CONDITION OF THE .EQUITABLE LIFE INSURANCE COMPANY OF THE DISTRICT OF COLUMBIA —on the 31st day of December, 1921, as required under the Dis- trict of Columbia Code, amended June 30, 1902, and August 18, 1911. Capital Stock . Capital Stoc;, paid up, in cash ASSETS Cash in office......... Cash in bank..... Real estate .. Real Estate Mortgages (first Tien) Stocks and Bonds (market value). Loans secured by collateral. .. Interest due and accrued. Total ASSEtS cevvesceevarecsescssnvesionass-$1,902,097.85 ceeccee Premiums uncollected and in hands of agents.ceeees LIABILITIES Net unpaid claims ........ccceeieececccccanccscnsn Reserve as required by law. Premiums in advance..... Salaries, rents, expenses, taxes, etc Agents’ deposits ..........ceennee Cash dividends remaining unpaid. . Capital stock Surplus ... Total Liabilities .. Character of business transacted during the year 1921—Life insurance. Amount of risk assumed during the year 1921. . Losses sustained during the year 1921 Money received during the year 1921. Expended during the year 1921 ...... HENRY P. BLAIR, President. cee ALLEN C. CLARK, Secretary. Subscribed and sworn to before me this 20th day of February, 1 GILBERT A. CLARK, Notary Public. ( $eal) eration it deserves. We have had nearly 33 years’ experience serving as executor and trustee under wills, and should be pleased to confer with you and your attorney about YOURS. . $2,000.00 30,845.39 235,092.00 627,200.00 853913.87 Capital and Surplus, $5,400,000.00 eece . 3 % Interest on Savings 47,957.82 S /\MERICAN SECURITY 2t v e AND_ ST MPANY _* 260000 K 15th and Penna. Ave. HOME SAVINGS BRANCHES 7th & Mass. Ave. 8th & H Sts. N. E. 436 7th St. SW. -.$1,902,097.85 $1,481,728.00 $167,209.11 . $1,010,592.46 5 $412,853.12 RO If You Want To Invest Can you afford to pay an auditor to go over the books of the corporation whose security you buy? Can you afford to have a lawyer examine the title to its real estate and properties? Can you afford to pay mechanical experts to make periodic inspections of their plants ? As an individual investor in a I corporation, you couldn’t. As one of our thousands of clients you could. Because all these services are done for you by The R. L. Dollings Company. We make the interests of our clients our own interest There is no detail too small or too much bother for us to consider in behalf of our investors. RESULT—steady income of seven per cent. and safety of principal. The R. L. Dollings Company 728 15th Street N.W. - :