Evening Star Newspaper, June 25, 1922, Page 25

o SIE AR Gl 4 . THE SUNDAY "STAR. WASHINGTON, D. c RANGE OF MARKET AVERAGES. |OVER $3,000,000 TO BE PAID RAIL INQUIRIES DELUGE The following chart shows hically the sction of forty repre- ' TO MTORS 'WITH. JULY 1 INTERSTATE COMMISSION sentative stocks dealt in on the New York Stock Exchange. The period Requests Regarding Preposed Con- solldation of the Southern Pacific su@ Central Pacific railroads dissolved, or that it invoke legislation to coums teract the effect of the decision, the commission suggests-that the enes- gies of the protestants be directed along legal lines. s ~ WAR: DEBT FAST DWINDLING WITH 1922 HALF-BILLION CUT covered Is the past n.onth, up td and including the closs of the market Friday, June 23. The lower section of the chart indicates the relative activity of the market. i 3 Consideration Can Be Given. Criticism -of - the practice of indi- viduals, chambers of commerce, la- bor organizations and others who have been deluging the Interstate Commerce Commission with Inquiries regarding the proposed comsolidation plan for railroads of the nation in the light of the recent Supreme Court decision, affecting two western roads, was made by the commission yesterday. Declaring that the commissign has received many telegrams, letters and copies of resolutions asking elther that the commission order the decree of the Supreme Court ordering co: . 1 i e - 3 . 3 ] 5 “Manifestly th tsston cannot Budget - Takes' Care of Huge Obligation) 5853 S9E Including Interest on Bonls, Deposits and| *!ition ¥lan Criticized and No | conmilx shel, aucsis™ ihs somirie 2799311 23567 1415 16 1710 90 91 2223 [ ] [] recently doriduzted hearing concernix idation carriers in the atheastern regiom, anrd itz work has been planned. it such a way. and its engagements are such that hearings with reference to carriers in the west are likely to be held before October. The dates and places of such hearings will bs announced well in advance 50 as to afford those interested ample oppors tunity to prepare their evidence. “It is suggested that the energles of those interested be directed alos that line instead of sending tele- grams, letters and resolutions to the commission at this time. Such ex- pressions cannot be made a part of the record and can be of no assistance ssion in dealing with mission has ‘-and Current Expenditures at Same Time, Inspiring Confidence of Treasury. ‘America 1s paying off her war debt of twemty-five and one-half billion dollars in orderly fashion. The total Eross debt has been cut down about three and one-half billion from the peak. The government spent about half a billion less during the fiscal year now closing than the spending depart- ments estimated In the beginning. The budget has been arranged to take care of the war debt along with current expenditures, and, in spite of the speculative deficit of almost half 2 billion facing the country for the coming fiscal year, the prospects for which are frankly declared to be “not £00d,"” officials of the Treasury are . confident. They say that with the . budget definitely established on the basis of paying not only running ex- penses, but of taking care of the war debt, substantial progress in the busi- ness of the country’s finances may be expected in the years ahead. But— there must be economy. Dividends on Stocke—Capitol Stock Tax-—Joint Accbunta. ment of liberty bonds in accordance with the requirements of the liberty bond.acts; second, the receipt of funds from salvage and other realization on assets remaining over from the wat, aggregating about $1,400,000,000, and finally the application to debt retire- ment of about one billlon dollars of surplus_tax receipts during the fiscal years- 1920, 1921 and 1922, chlefly through the sinking fund and other debt redemptions which are charge- able against ordinary receipts. From now on,” Mr. Gilbert sald, “the liquidation of the debt will have to be accomplished chiefly from sur- Plus revenue receipts, and particylar- ly through the sinking fund and other similar accounts. BALTIMORE PRODUCE. BALTIMORE, Md.. June —(Spe- cial).—Native corn made its first ap- Pearance of the season on the market yesterday and met with ready sale at 50260 a dozen. Receipts will prob- ably increase next week and prices are expected to ease off to somewhat BY L A. FLEMING. The largest corporate payments on account of interest with July 1 mext, wil be made by the Potomac Electric Power Company, as it will ‘pay $295,- 730 on its consolidated 6.per cent bonds, its debenture 6s and general 6s. ¥ The government will make heavy | America: payments on acount of interest and in redemption of 3% per cent victory notes. The Caplital Traction Company will pay its quartely dividend on $12,000,- 000 of stock, thereby dispensing some $210,000 to its shareholders. There are many corporations that make no payments with July 1, also banks. Some _large institution Riggs National, MetroPolitan, Nation- al Savings and Trust, Washington Loan and Trust, hade other dates for their payments. The. American Se. curity and Trust Company will pay its shareholders $102,000 quarterly with July 1 on bank statements: i Nations] Bapk. “Bank' [ SERASE 2 STUVYH ¥0d VIS— & 2880 32 REBE ropsaBEL yessszszsasaszazias ~——SCALE FOR INDUSTRIALS Bast Washington Security. Bavings and Com. Bank Cnited States Sgvings Bank ‘Washington Mechanics Savings Baok.. Individuality, Surpassing Natural Beauty Quick Access to Heart of City, Room for Real Suburban Life, an Acre or so for Less Than Many a City Lot. —these features apply to some home sites available for a select few. High, healthful ridge on margin of the placid Chesapeake and Ohio canal, commanding extensive view Total .. m.wflx The following are dividents on mis- cellaneous securities due with July 1 Columbia Title Insurance Co. Real Estate Insurance Co. rchants Transfer and Btorage Co. Security Bterage Co. ‘Washington Market. MILLION SHARES STYVHS NOMIN (Lopyright, 1922, by W. F. Meyer.) Industrinls, 1921. Industrials, 1922 to Date. 81,174,780 Outlined n Address. near the southern variety. which is . 81.50, December 15 | High. 96.41, May 29 dividend. with the Union Trust pey- of the Potomac river and valley and of the rugged Vir "Il; 1_1>_.r (inben. ]‘rl“un‘;lexl';ecrelttar);lol selling 1.50a2.25 a crate. Season for vee.. 63.90, August 24 Low.. 78.59, January 10 ng $30,f s e Tz Outaide l-""l:HE l’- f ginia shore. easury, oufline e situation | green peas is pretty well over and th B % Schedule of Payments. investors will receive large % L, i AN 2 - in succinet and definite manner the |prices have a wide Tange, ssiling from mans.s o Sl Rails, "?s ;.; l:::«e % The following is the schedule of | Payments on their holdings of securi- Direct Service to Business District, 32 Minutes other day in an address on the war|1.75a 3.50 a bushel. String beans and T ns JuneNy gh- 1343 Jamuary 9 |payments on interest account disgiisted v theNewoYork and ottiés to Treasury, Single Fare. debt, to the bankers “down™ In Malne. | cabbage becoming more plentiful at | sy SEas 7 Low.. LSS SORNUAYY, - stock exchanges, also-on holdings of Ty, g 3 The refunding plan. through which | 50a a bushel for the former and Twenty Industrial Common Stocks Used Are: Govesament hood foreign bonds, so that another mil- Dupont Circle About 10 Minutes Distance by Motor ‘he public debt is stretched out over|50a75 a crate for the latter. Am Can Am Sugar Cenlral Laathe Rep 1 & Steel U S Steel lion may readily be added to the dis- - S = & % neriods in sueh a way that the Treas- | Beets from nearby points coming in | Am (& Far AmTdETa Corn Procts | Studepaker - Utah Copper o tribution shown. And vet' another Only eight acres in the tract, location, sizes and prices - n handle it without “throwing |lively and sel 1 5 ‘Am Locomotive naconda Gen Eleetric Texss Company inghouse ) s ilion, near it, w credite: : indue strain” on the financial World, | hundred: white T&Z’rflyd"’ffflffimfi Amsoeltiog Gaidwin Loco | Goodrich - U'S Rubher Western Unloa i o To the account of depositors in the of parcels to be negotiated. | Washington Gas Light was lald before the bankers by Mr. Twenty Railroad Common Stocks Used Are: various savings Institution trust and slow sale at 1.5023.00. Asparagus Right reserved to withdraw from the market and to tiilbert as “a sound policy.” holding its own in price under fair | Atchison CM&StPaul K G Southe:: thern Pacitic Reading Tolal| |(estimted). companiés and savings section of Y \fihe, offort of the government said | demand at 3.00a4.00 o dozen and 1203 | alumore & Obio Del & Hudson Lehigh Vsiiey wHiven = Southern Pacifc The following are the payments on | hational banks. chocse]purchiasets, r. Gilbert, had been since the be- :1.80 for No.2 i ‘apadian Pacific Erle ouis & Nash orfolk estern Southern Rwy ~ 7 5 Finning of the war ~to keep its own | Inofl:};]: i:,i‘,’,fl‘ .llelslll‘lacizafindfzgu::z Ches & Obio lilinols Central N Y Central Pliilaniing alon Pacific {account of dividents to be made July Capital Stock Tax. ‘We shall be glad to show the land at your convenience. «|1 on utilities: } American Telephone and Telegraph. . "The capital stock tax on corpora- house in order, to maintain the gold tions is payable in July. It ls?;) on standard unimpaired and unrestricted, former and 50a75 a basket for the lat- Dally Movement of Averages: ter. Spinach scarce and bringing 1 LOUIS F. SHOEMAKER - $50,000 210,000 1ndustrials. Rafis. ! 1Industrisls. Ralle. | . ftand A S i Canital Trac each $1,000 fair valuation on capil ::r:un;tr(;:x;izxeon‘\;;rd :t'r‘\mi?hn?heh:gf ‘l’ :r:u'o?nb;:::l"d Radl;hesl ;r;)% S‘Ds‘!’nx 94.38 g:fi June 57.535‘3’ 20 :, 81 | Norfolk and Wash. Steamboat Co. stock 'of corporations at the cl‘:spe l:]r 1407 New York Ave. N. h lemand at 3.00a4.00 a 866 7 7 st sorption of government obligations | hundred for the former and 1008125 | i ey | Total . ?K:':fi&'oi"."iof—"p;f’:u:;-:n".'c'i’f Ll Main 1166 and 8263 n:(n %tf i:\'xlnfi: inld :fller tth o toé the latter. 85.1 i Dy It is payable in even thousands. t hostilities to balance its bud- 0od qualit: s % S— tow of Bostilities! tor L | agoct auats iuznxl?::dw:y"x:‘récg 1502 13 &3 The following are dividents due' An exemption of $5,000 is allowed. income, and, at g;e same time to carry | tops on. The market for new pota- fi‘ =5 ; out a reasonable program for the|toes is firmer with receipts runni : s £Tadual liquidation and orderly fund- | only fair from all sections, and sacts 8 R e eme. asbeithe Cxtes were waiting for the hour and the man. It 18 declared evident that one of the high cards in the republican hand | ing of the war debt. “This policy,” declared the under- secretary, “the government has per- ern shore Virginia varlety bringing top prices of 4.00a4.25 a barrel and other sections selling 3.5024.00. No. 2 <% BUDGET SUGCESS, NCE. iverdale Heit ERTY BONDS sistently followed from the begin-|stock all sections not active at 2.00a T GL for the ocomin - S 9 o 2 A A g campaign will be = = . :mrg“.:]rnm?tuflszci_;:\: %:;:.“::d.':z 250. Old potatoes continue in light the record of economies and efficiency Just Northeast of the City and in Sreatest war In history and through | 155 er o0’ oees fiold firm at 1.502 ‘Maturity ——1921— —19022—, ose made by this session of Congress in Line With the G : 3 tho exceedingly diffieals period of we. | L3 Per 100 pounds and ‘about half Date. High. Low. fligh. Low. Testerday. Yleld, the application of the public funds ine With the Greatest Growth &ly d 13 price for 2s. The market for apples | it 3 61547 9670 8600 10030 9484 .10 3.49 10 the government's necessitiea The | adjustment which followed the war|rules a shad iberty 3¥is. . 3 ¥ ° < t shade easier and only large |1 2 24 10020 9600 *10000 400 democrats have sought diligently to | With its credit not only unimpaired | fruit of smooth quality wil| bring |Liberty 1st 4s. 6-15-47 97.60 852 Clmets - g —_— shoot the record™full of holes from | but greatly improved, with the dollar | top values of 3.00a3.50 a barre] and | Liberty 2d 4s . 11-15-42 97.58 8534 10006 9560 *100.00 4.00 ' time to time, but it’ was only target | :’fiigfixf& ::;eu“z(:gd:r;‘dd zsu;l‘nl‘l:i = a;.fifl ;bu:h‘e!l. as ()l:ere is plenty of | Liberty 1st 4%s. . 9800 8540 10040 9600 10026 4220 To the success of the budget 5ys- &nu::llca ol the barn door, in the es- 7 > NO. and small stock coming in at i 2d 4y 97.80 85.30 100.14 9574 100.08 424 t: is ascribed imation of republican senators and banking system in sound condition |2.00a2.50 & b: s Liberty s i tem, in practical operation, = e S 10 mect the peace-time demands Of |- Cnorpae carroiand S92L00 & bushel. | ik erey 34 digs 9824 8800 10018 9674 10014 4221100 oY iat the sppropriations of | BTeRERLaLIves dealing with the 3p- Of Remaining Lots Now business and industry. ed at 10al5 a pound and 10a20 a quart. | Liberty 4th 414s. 98.14 8574 10024 9586 10020 422!, recent session of Congress have Retiits to marnl L i Foundation for Revival Huckleberries and gooseberries also | Victory 434s 00.10 95.86 100.98 100.02 3711 cone through with lees friction, less v i The latter contend that the atten- tion of business men the country over will be brought to the operation of the budget system when the final summary of the work of Congress on appropriations is made, and that a showing can be presented which will demonstrate actual economy and | efficiency in the administration of ex- | scarce and good stock wanted at 1922, their nearest possible redemption 25230 2 quart for the former and 7a8 a pound for the jatter. Blackberries and raspberries running fairly liberal and bringing $al? a quart for the former and 15a20 for the latter. The egg market is held on steady basis more as a result of continued moderate reccipts of choice fresh stock than from any special life to the demand, as the buying is only for immediate wants and the warmer weather is making buyers more criti- cal right along as to the quality of cggs. Native and nearby firsts will bring 24 a dozen, while average re- ceipts and held stock have to be sharply discounted. Under increasing recelpts of spfing chickens, the live poultry market has been easier during the past week, but for the larger-sized springers weigh- ing upward of 1% pounds apiece there is a good demand at 45 a pound. The bulk of spring chickens coming in, however, are weighing sround 1% ta 1% pounds on an aver- age and on all such stock prices have to be shaded, bringing from 30a40, “Thus there has been laid the foun- dation for a healthful revival of busi- ness in this country on mnoxmal levels.” In planning to pay off the war debt, Mr. Gilbert said it had become clear that the maturities of more than $7.500.000,000 which fell due within two years after March 31, 1921, could not be met by “gradual retirement,” but that some “program of orderly fund- ing had to be adopted in order to put the short-dated debt in manageable shape and protect both the Treasury and the financial markets of the country against undue concentration of public debt maturities.” A refunding policy was thereupon adopted, announced by Secretary Mel- lon on April 30, 1921, he said, “to dis- tribute the shofi-dated debt over a longer period of vears, chiefly be- tween the maturily of the victory loan in 1923, and the maturity of the third liberty loan in 1928, and to do this in such a way as to spread the matyrities of debt over the period in manageable amounts that might be| taken up to some extent at least out ot | disputation, more genuine economy in expenditures than.ever before. All the appropriation bills will be signed date. before next Friday and there willi CONCRETE SHIP DAILY pROVES ’bc no nec-ssity of continuing reso- SUCCESS ON POTOMAGC ROUTE M, om rer o one- e in constant touch with appropriation B hirty. | penditures. 3 _easures, declares that in the thirty-!~ To the average voter the budget | s of ‘his experience there has | udget | Trips Between Washington Barracks andbeen no puen rosors of w0, o | ey "1 s mechaniam of e Fort Uninterruptc& for Months; Ice- methods and efficiency in the [tion, but the analyses of that opera- Plowmg Service Exceptlonal. | handiing of appropriations as this!tion to be drawn by the appropristions session will make. committee can be understood by those Goes Out Jume 30. ::‘;Bur\':fl ""}’ read ‘whsn, they show S Diwen the nrstaic ng of waste in duplication, of !"geor‘\_. ocbar{ ml:!bfd *t, goes out of of- | Cutting down lost motion, so to speak, ety O §tne 20, with the|and of the good results of a centrai sense of gratification of having con- directing power and authority. | tributed to the rex:a:'gi h‘i:la' 2 ;:d Conflicts Are Reduced. | v oin; ¥ H thickness of fee. crushing the ice be- | Shoeat " “Hiis ‘magcessor. Gen. Lord, | oporation of hre hestSaritol e fore it and mgking a perfect landing. | can be depended upon, officials Ufi{:‘duco conflicts between govern: ‘{ Examination of the exterior of the!gyre, to “carry on The fact i the|ggencies ang even of ln‘;e'r':-“ hull showed no defects from the ice | pydget has “made good." In the Congress and minimize clashes plowing stunts. In fact, the marks|Capitol Hill everybody over the appropriation bills. Marine history is-being made on the Potomac river between Washing- ton barracks -and’ Fort Washingten, in the operation of the motorship of surplus revenue recéipts sccruing |but white leghorns are slow sale at|Gen. George H. RucKer, said to be|left by the wooden forms. into which “Why didn’'t we adopt it The successful worki k Nq.one is a true citizen, to_the government in those years.” 28a38. < - the first successtul coticrets ship ever the eoncreéte was poured in the course 7o which the philoso) syktem will bs nuea'g :-:z“-tny“mul or &t least demonstrates Foliowing this program. Mr. Gil-| Old hens are firm 6n fat stock at|, ®) % D lE B8 CEEE e o 0 ere | OF colstiuction. were plainly visibl T tribute 10 centralization of authority. Terms as Low bert announced that five public offer- ings of Treasury notes had been made, “two for cash in June and Sep- been dons ¥ ago—] and that's the only answer his fidelity, till he becomes intérested in ownership of 25228, with white leghorns bringing 23a24. White leghorn roosters, where they run large, sell readily, but the That may be true, and whether cén- tralization is désirable in government or not, it certsinly spells success in Six Mates Idle. $ when th started along these lined when thed o) Angerson built six other boats United States was clamoring for ships as $5 Monthly tember, 1921, one for cash and in ex-|smaller sizes are hard to move. of & similar type, four of which are blg business enterprises—and land and a home. 5 change for 4% per cent victory notes | Fairly good dem: during the war. The vessel has suc- T well as a number of others of her!p/ & . 'c 2 in February, 1922, and the other two oa aiid for SPEing ducke now tled up at Norfolk and the other has been in the government|URi ates government is the big cessfully withstood the tests of time, elements and economy, as well as de- pendency for service. . . Her concrete construction s de- clared to be a result of observations and corrections of failures of other efforts to build such ships. In fact, Col. P. M. Anderson, her designer and builder, before he undertook the task, at the behest of the War Department, visited the various shipyards.of the country where concrete ships were being attempted and found out what not to do. at 26a28, but stock under 3 pounds not wanted. Old ducks qulet at 18a22. Pigeons easy at 30 a pair for both young and old. NEW YORK BANK STATEMENT NEW YORK, June 24.—The actual condition of clearing house banks and trust companies for the week shows a deflcit in reserve of $3,625,200. ‘The statement follows: Actual condition: Loans, discounts, etc.. $4,842,922,000; increase, $39,178,000. type, sifvice for a number of years, but now has retired and is engaged in consulting engineering in this city. hull and at 60 per cent of the cost |He was appointed electrical engineer for the former type. {in the supervising architect's office Four men are required on duty In|of the Treasury Department in 1907 the engine room, two engineers and [and worked his way up in the two oilers, and while sixteen men are | civil service in the War and Interior assigned to the Rucker the vessel |departments to the position of chief can be easily operated with a crew |of the construction division of the in- of ten men. land and coastwise waterways service When the boat returned from its|at a salary of $7.000 per annum. He trip down the river. the party was|is a member of the American Soclety taken to the photographic laboratory jof Mechanical Engineers, Soclety of of the Signal Corps and shown sev- | American Military Engineers, Amerl- gest going business in the land. Gen. Dawes, %o it fell out, by the dictum of fate or the discernment of President Harding in selecting him for the post of director, was the man c:jo ex‘erl the -mnou empirical exer-| e power which the office demand- ‘T ¢4 and with which the President cn- || ”:;""‘;“’:,’_’fl'.,fif"ozn owed him. He was given a free hand er never before wielded by an official of Riverdale Helghts Suburb of the government short of the chief You make yourtc;‘_m! executive /himself. And, personally, for It O Seink of the wonderful opportunity you have in this questionable appropriations or cut the e o ear service, excellent roads right into the city. electric, | throat of a contemplated drive on the = bost office, ete. = BIVERDALE = two_are at Baltimore and New Lon- don, Conn. The hulls were bulilt in half the time required for a steel only in exchange for 4% per cent vic- tory notes, in March and June, 1922. “Every offering of notes,” Mr. Gll- bert asserted. “has met with a hearty response and the Treasury has been able by this means to place about $2,200,000,000 of the early maturing debt into more convenfent maturities and to reduce the victery loan to manageable proportions.” Tax-Exempt. Series Cut. Further, it was added, the Treas- ury had taken advantage of its right to call vIetory notes for redemption before maturity and by calling all the Greatest Home-Building Plan Ever Devised to personally profit from the rapidly in- ‘t(:lx oclr\' and own a Home in the at}rlcuvs of Beautiful Washington? It's easy. d enjoy your property while paying 4 Cash in own vaults members Fed- Socl: of Naval Architects and and water - service: stores, e c - ! £ Aside from her concrete hull con- |eral reels of motion pictures dealing {can Soclety Treasury. gas_an D O or wants to have 1l o o Mot e demption onjeral Reserve Bank, 360,353.000; in-| o ction, which is declared to mark | with the construction of concrete |Marine Engineers and American Insti FEIGHTS s ideally situated for the man who wanty (o BEVE &1 crease. $1,769,000. itute of Electrical Englneers. He is a the pleasures of life in the coun a new era in ship construction, her ships. ! crease, $78,5692,000. Reserve in own vaults state banks and trust companies, $7,432,000; crease, $41,000. = Reserve in depositaries, state banks and trust companies, $10,176,000; de- crease, $$120.000. Net demand deposits, $4,285,515,000; ) decrease, $88,030,000. United States deposits deducted, $40,302.000, Time deposits, $332,281,000; increase, $12.353,000. $34,628,000; ?fi'exl’?gaga:’::'ing to East Riverdale directly on the property. Come Out Sunday J. W. HOLLOWAY CO. ‘ 1110 F St Frankiin 898.‘ Send me full particulars, etc., of lots at Riverdale Heights, without obligations to me. Name ..... propulsion, numbering the days of the steam reciprocating engine. And in the propelling machinery lays much iof her economy, for, it is declared, they can be operated more economi- cally, than the oil or coal burning stearh engines. E Two Trips Dally. The Gen. George H. Rucker makes two trips daily between the Wash- ington barracks wharf and Fort Washington. The hull of solid con- crete is 150 feet long, the total dis- 3 ff at Post that tax-exempt series. Reserve in Federal Reserve Bank ive of Wisconsin and a graduate 3 "To inspect, take.G street car to Riverdale and get o i 9 . o Diesel engines, it is asserted, mark | Col. Anderson, designer of the ship | native of sc O e 'es st Diveraals Siation fei[;’:néng?e_cr;rl::!‘:\r;}l\n;lgs:':;gr:zv:; of member banks, 3547,962.000; de- |1, yeginning of a new era of ship|and supervisor of its constructiol of the Uni ty of Wisconsl HOM,B FOR Office, then wllkoern!‘tol.m O eratis northionst, franster it was added, the Secretary has an- nounced his intention of calling for: redemption on December 15, 1922, a substantial amount of the 4% per cent victory notes still outstanding. 3 ‘The policy of taking care of the war debt was declared by Mr. Cil- bert not only to be “sound,” but he in- COLORED We have several desirable properties in convenient loca- tions that can.be purchased ¢ on small cash payments, rang- ing_in price from $2500 to w0, T FOR RENT Stratford Building 2 Thomas Circle made over April 30, 1921, in retiring that debt. . “Victor; he said, rcuiation, decrease, notes now outstanding.” | ¢ G'0CU ‘amount to only about two ‘Aggregate reserva, $565,570,000 placement being 800 tons, and 12 per 1st floor, stores with D Dll Sver Four biilion dollars a1 that mS: Deflic, In_reserve, §3.25.200] de- |cont neavier than a steel ship of like 14th and Monroe Sts. Fasementsl 5 . Address . et ;| crease, $67.556,260. size. e Rucker has a passenger- = ;) HI Treasucy sepiificates agaregate about | ummary of state batks and trust|carrying capacity of 650, @ cargo 24 =nd 3d floors containing Al oot aihons eand 711 Southern Bidg. Main 7561 MAIL T! about §2,150,000,000. and war savings | companies in greater New York, mot|capacity of twenty-five ‘tons, and ;_‘cut 00 iq. t. floor space. BT Fiteproot build: e tificates 'maturing or to be re.!included in clearing house statement: | carries a crew of about fourteen offi- ireproof buildings. Also hrst- 3 $662,606,000; | cers and men. Aside from the concrete hull the fea- ture of the ship Is Its: power plant. Two Deisel oil-burning engines, with two auxiliary engines, give the boat a maximum speed of about fifteen miles an hour, and likewise furnish the electricity for use on the boat. cost of operation with Deisel engine propulsion is demonstrated to be one- third the cost of fuel in the operation of smaller ships having ofl-fired boilers and triple expansion steam engines. This increased efficiency reduces th: amount of fuel neceasary to be carried and correspondingly increases the cargo-carrying capacity. According to Col. Anderson and Capt. Payl D. Gau of the Rucker, the boat e O s hrnmmou™s 145 | desrense, SLAZLEOS. " about $650,000,000, as c®mpared with ! . 31 3 about $750,000,000 when the program | Gold, $5422.800; decrease, $203,400. began to operate. There are now | Currency and bank notes, $15,783,- outstanding, of course, about $2,200,- [ $00; decrease, $76,400. 000,000 of entirely new obligations| Deposits with Federal Reserve in the form of Treasury notes, but|banks of New York, $53,859,400; de- these mature at various dates in the |crease, $2.076.200. yeoars 1924, 1926 and 1926 and the| Total deposits, $694,260,400; Treasury should, accordingly, be able | crease, $3,116.600. to frame its plans so as to take care, Total deposits, eliminating amounts of them at maturity out of surplus|due from reserve depositaries and revenues or through Secondary re.|other banks and trust companies in funding operations, if necessary.|New York and United State: without undue straln to the financlal | Deposits, $649,645,500; decrease, $3,- 90,600. Banks—Cash in vault, m.5‘01.soo. n markets. g “There still remains outstanding, Trust companie: h vault, $19,558,200. floor shops with basements. ings. Excellent location. Ready October 1st Ready August 1st LEASES NOW BEING NEGOTIATED For Plans and Further Particulars Apgly RANDALL H. HAGNER & CO. . 1207 Connecticut Avenue - New Bungalow in- Exclusive: Chevy Chase Park, D. however,” he added, “about $4,500, 000,000 of obligations maturing with- in less than a year, $2,000,000,000 of which is in_the form of victory notes, and their refunding presents a problem that will require the best attention of the Treasury for prac- tically the whole of the next. fiscal year.” $26,596,000,000 Was Peak. ’ The country came through . the war, the undersecretary explained. with & groas public debt, at the high point on August 31, 1919, of $26.596, 000,000, an_increase of almost $25,600,- 000,000 during the war period. ““This war debt, however. Gilbert, “stood in quite a different po- sition than the debt which resulted from the civil war, and from the out- set it had been arranged, as to both maturities and redemption privileges, in such a way as to assure adequate control to the Treasury over the r funding and liquidation of the debt.” The debt, it was explairied, included over. four billions, of victory notes maturing within abbut four years and redeemable at the end of three years; almost a billion dollars of war. sav- ings certificates maturing within five years, and over sixteen billion dollars of liberty bonds maturing at various dates from 1928 to 1947, and redeem- ahie at various dates from 1927 to 19338, 3 the peak in st of 1921 1t v’: S:Mvn’.m debt had been cut down by mors than $3,600,000,000, in- cluding the big operations of June 15 of this year. In June, it was said, ‘maturities of principal and intere: on the public debt amounting to thre qn:irtqn of a billfon dollars had been my One billion doliars of the reduction in the debt wl: om:; of '(hgd'!gll “duced balance in un = ted out, but_“thl remainder had ‘be ”': - the -vpllo-uo!: bout of repaymen 2y 76 ts to the retire- INDUSTRIAL NOTES. Kansas Clty SoutMern for ‘May shows net operating income of $306,- 667, a_decrease of $83,711 as compared with May, -1921. Operating expenses stood at $1,279,544, & saving of $7 870, as against a vear ago, and gross receipts were $1,678.573, a decrease of $145,401 compared with May, 1921. AngJo-American Oil imported 7,750,- 000 gallons of refined oil in week ended May 29. Of the tctal of 31 000,000 gallons of refined amd crw‘o ofl entering. United | Kingdom, Bril- tish *Tanker received 7,660.000; Shell Marketink, 5;200,000; British-Mexico, 5,100,000, and Anslc-;.x.\un Pe- troleum, 4,760,000. . Baltimore and Ohio Ral! may resume dividends on $161,945,549' com mon before end of year. : ] Rall rates on merchandise and.cat- tle will be increased by 35 percent throughout Germany, beginning July 1, Berlin reports. IRON ORE SHOWS NET. NEW _YORK, June 24.—Trustees of Great Northern Ore Properties report for 1921 total receipts of $6,08%,063, fter deducting $98,358 for ad- on each of 1,500,000 -certificat of ben interest. In 1920 e In- come available for disbursements 54,856, or $3.90 o&u or buting $6,000,« the . trustees surplus of $197,473. tatement of certifical dist 000 in. 1921 cumulated detailed pped, fiects the stagnant condition of the ron and steel Industriés during 1321, e o bl was tied up at dock for one week, when orders were suddenly received to pro- ceed down the river. The officers and crew boarded the boat and within six minutes the Rucker was traveling at full speed ahead. The rapidity with which the ship can get under way also was demonstrated to the party Friday. The engines were throttled down, giv- ing the propeller shafts only a few rev- olutions per minute, and ° when they were opened aguin the shafts acceler- ated to full speed In a few seconds. Paint Sticks Well. - The hull, Col. Anderson said, is two and threc-quarter inches-thick, while the deck was two and one-half inches. The interior ~arfled the same coat of paint that was placed on it the day the Apartm Now Ready for Occupancy vessel was launched at Wilmington, N. C., May 23, 1921, and the fact that it showed, according to the -colonel, that tI ‘was no damp- ness whatever in the ship. e forecastle, with the exception of about a pint of water that had seeped through the trap door from the scrub- bing of the floor, was entirely dry. It never had any water in it, Col." Ander- T e baencatid tnko ser o ver X n PoGors, who has bullt forty- three concrete ships and more than 100 steel ships, said -that if a con- crete ship should collide with a steel | ship. the formér would re at the point it ‘was hit,'while the latter, he sald, woyld in all probability rip down the seams and at places other than the point hit. Therefore, he #aid, he would cast his lot with the concrete ship in' the matter of col- Iisions. ' - 'With_the exception of the Nor- folk and Washington steamers, the Rucker was the only boat to .ap- tions | erate on. the Potomao last winter || during the .ice season. The vessel has plowed through five and & haif Inches of ice, the colonel sald, and once 1t Quekod Droadside into & large ents for Rent Opq'l"lmfion See 1 t Sample Apartmen! Southwest Corner P Street This well constructed build- ing, formerly occupled by the Alien Property Custodian, being refinished throushott. Tenants may select papering for unfinished apartments. Housekeeping Apart- ments of 8 Rooms and 3 Baths Doctor’s . Office—two . One floor. Thomas J. Fisher rooms and lavatory—on first . Sevéral Sther; : te_l:; The . 819 151k St. N.W. to10 rooms and 3 baths. Prices, $9,500 and up. mas & Co., Exclusive Agénts 810 Utah Avenue Opposite Purple Iris Tea House “ Six unusual rooms, tiled bath, large porch, fireplace] oak floors,” large attic and garage. .~ Priced Low—$12,500 new houses in the subdivision are also ready for inspection. 5 rooms and bath All open Sunday for your inspection. Real Estate Financing Main 8416