Evening Star Newspaper, September 16, 1922, Page 19

FINANCIAL. - TAR, WASHINGTON, D. C, SATURDAY, SEP ER ‘16, 1922.. .. FINANCIAL. . - 19 s BONDS o e N oW ot v ALL DS HILD “*N.'Y. Curb Market (Quotations furnished by tho Associated Fress) NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office INDUSTRIALS, ; FOREIGN GOVERNMENT, STATE UNITED STATES WAR SONDS. (N Saten by High. Lyw. Cle Open Vg T, Clost | e T R BV Lo ety AND MUNICIPAL. 2 High. Low. Close. : \) 300 Actie Coal Adams Express TRETT mer! . Close, | Liberty 83s, 188247.... 0128 10110 10124 R B d Ab d M E o 2000 Acme Packing .. Air Reduction. 6% 69 69 |Northern Pacific... 83% 83% 88% E8% High. Low. Cl%% | Liberty 1t 4 1902.47.... 10070 10070 10070 ecove. ased on undant oney, LX: 100 Amer Light & Tr. ¢ A o202 102% 200 At Light ptd...... AJax Rubber. W RIae s e G e S S B:l‘:l.:x“n;"- cee 06" 105 106 | Liberty iat 4%e 108247, w068 10066 10068 ) 00 Atlautie Feuit C: ka Juneau % 1% 1% - m 15018 1ot Mose 5 . . NEY YORK., Septemiber 18—De- 1 pr w < 14 |Otis Elevator......153% 153% 153% 158% | Belgium %% estic Business, dtrike 3 Tine Aiied Chemlcal -0k 451 IR | Ot ateal U N% u% 0% 1% Belgtum &, e 104 s oo wn - pecte 1 omes - cision of the government to raise the Allis Chalmers... §8 88 8% 5% aoeeoe h 3% 114 | Liberty 4th % 1933.38. 10066 10054 1056 : e O So% 8% 8% | Owens Bottle. # s ® 8 |Bernes e U T Cictory 1Ko 1023 Yoot lomo v | - : price of savings certificates was the Beet Sugar ©h @5 %) pocDevelopment.. 5% s 6% B B:fl"fi';fi = S S B% | Vietory 4% (called).... 1003 10030 108 Settlemgntg-—Europc Ignored, 3 outstanding feature of Interest in to- e e e an 2% 61% I8 | Yac Gas & Eleg. s% 8 884 85| prasiie o a2 8% RATLNOADE: X day’s investment markets. B00 C & O pld W L.... (_:r lt ll"dyA 190 188 Pacific Mail. 13% 1% 18%- H:Ia i g 2% $2M Taken with the large oversub- icle Co FPacific Of. B9% 58% fBY 88% Bryyi) 7y, 7 8% 89 89 ripti f the new 33 per cent : : EWART P. WEST. the shrinkage in the export trade, and | scription of ne Pan-Amér 9% 8l% 9% B lCanadn e 1936, 00 9% 10 i 6—The | this shrinkage due to deficlent forelgn | Treasury notes it was regared as Pan-Am Pete (B). 75 7% 5 T8%|Canada 535 192 02 101 101 NEW YORK, September 16— buying power, is not likely to be any | evidence of canfidence on the pa: PanhandleP&R. 7% Th 1 T |Canaga cripas: Lo w10 favorable features in the financial | worse than we have seen It for the(of Treasury officials in continuing Fenn Seand Sicel.. 'S4 B4 % 0% | chile sx 1226, ok e o situation at the end of the week are | last (welve montha. time there were no signs of reaction People's Gas. ... 98 88 01 91 | oniede1046 Lo 104 T the settlement of the various strikes | German Complications Ignored. | {ime there were no, signs of reaction Peoria& Eastern.. 22 2z 2 2 Inese Govt Ry b 8 Bw 10k which have harassed the business| It Is not surprising, consequently,|itfes. . = . = Christiania 8s. 0% 104 S0 st five | that the bond and stock markets| Trading was not in large volume. ) J P:r'- arquetts 38% 88 o | Sopenhagen 534 san W L of the country for the pa: should have ignored the latest com-| Foreign issues, especially the 400 Gimbel Tros ...... Phila Company.. % % & | Czechoslovakta 8 967 Wk B months, the signs of expanding Pro-|plication in German reparations,| French, were comparatively weak. 8 Gimbel Bros pfd. o L Phillips Jonei &7 8 sz | Danish Municipal 8s A. 10 109% I duction in industrial lines, the cer- | namely, Germany's refusal to accede [In fact, there was more reflection v 100 Glen Aldeis Uos A Paillips Pete Lcile Danish Municipal 8s B. 110 10 19, inty of a record-breaking rallway | l0 the Belgian ultimatum and deposit | of concern over the new complica- 400 Taves in & Com. Plerce-Arrow. . 1212 1z |poponiun s Nt et tainty of a 3 100,000,000 gold marks in Belgian [tions in the near east in the bond Pierce Oll. ... L e il 9% 190 | Canadian Py gen traflic, and the assurance of an abun- | banks to secure the six-month notes |than in the forelgn exchange mar- Plerce Oil pt S % G Domidican Hep 5iga'ds o 9% 82 | Centeal Pacthege % %% |dant money supply at the season|which it was proposed to issue to|ket. Czechoslovak $s yielded frac- Dlzsly-Wigely... @% 4% au e Dutch EnstInd 6s'47.. 4 % (G, E:“!:Ohlo cvia,.. 9 % when in past times credit has been | cover the remaining indemnity claim | tionally. C iR E . ¥ utch East 1sf6s'62,, 9% 8 3 &Ohiocvasss o very tight. s ing that ¢ 1d have R g 9 N o4 | ¢l A 2 & that this development should have osh et B By W% o |Fremchgovess... w1 10 IO Chi & Alton 314 1450, | Ths ifavoratlalieativen ‘are tholl fornd the ool A e oo atirosd hondy e tevest contertd P 2 10 11 | French Govt 734s ) & Alton 26 1949, German reparations crisis and the | indifferent. Neither French francs|!R the announcement by Speyer & Co. ‘ Eoatum/Caraal. I o HItaly 633 1025 9% Chl & East 11l gen 5 S |slackness of the export demand,|nor German marks have been re-|and Harrix, Forbes & Co., of the pur: Postum Cerpf.... 100 110% 110 110% [0 % CE8 1028, - % Chl Great Western 4 % | ehich has brought down Erain prices | sponsive to the mews. chiase from, the Chicago, Rock Istand Presscd Steel Car. w4 @% @% 8% | jopanese = CMEStpresy Yo & level that. from the farmers | This means one of (w0 things, elther |&nd Pacific of $5,000,000 first and re- > t 04 104 104 4 5 %s.. funding mortgage 4 per cent bonds, Pressed S:I&Car‘p . m:m 1‘“ 0 10 iLyonses 0 CM&StPcy5g. i | Standpoint, is disappointingly low. | that the inside banking view 'of the|funding mortgag .xc,{’“s:‘he Sonds Eroduetrd L Rar .. 46 WA (6088 ol cecilien i EMestpisioi un Security Prices High. Joparations muddle fs that it Is MUch | yere dealt in around 87%, last night's - Public Service pf. » Mexico 5. b Chi i & por A % | The markets have had no hesita- |, "ClCle that exchange rates have | CIOSINg price. At this price the yield Pullman Co. exico 4s. % CRI& Puget 5d 4s 7h | tion in deciding, as between these |y . .t 4 i0q 1o bad news—even to | 15 about 51 per cent. Punta Alegre Montevideo 7s. 5 Chi Uy D ret 43 {5 | two sets of forces, which {8 the more 1 PLeome adusted 1o bad news—wven to | Wepy ooy ™in the general list were i Netherlands 6 s S gnlon Station digs. o2% 8% E | wertul Security prices in the Jast ; (I8 SUEERSLIOR that France and Bel- | oictional. Liberties were stzady. FareOll; 2 Norway 8s.. [t SlCestLrotesa... 03 X twelve months have had & very great |y 5 SO0 TPOULTE, (Orian Pei| Public’ utility bonds were the fea- cchmical Products. rconda Rafl SteelSpr 122 122 122 122 | FOrto Alegre 8s w2 Cleveland Term 5% 4 rise. To many they seem pretty g%y [ 0 0 O he, ture of the week in the New York e ¥ <o [ j00d: ([ mede Aol ” Prague 7ips. Bl Colo & Southern 4% high where they stand at present. market for Canadian securities. They oo o | BRoddlines...... B 3 BRGNS NS 1k Del & Hud cv 5s Yet it has to be remembered that | (Copyright, 1922, by The Star.) advanced in some instances several Atchison Ray Con Copper 16 16 16 16 Rio deSangiie e 101 Den & Rio G 19t ref 5o, that market of & Vvear ago Was a e e T points above the close of the preced- Atchis Reading. ... m o % m g dedinetols. ... 1065 Den& RioG s BT sa panic market—one where values did | Combination of charred coffee and | ing week. R e e O T 2u | RioGrande Do Sul 3s 1025 Erle 1st con 4 not count, but where stocks a&nd|salted hot milk is served at all cafes| Provincial Issues were comparative- Replogle Steel % mR 2wl Drande Do Bal 8. .. 8 Etleger oo o2 honds were thrown over for anything in Cuba. . 1y steady Rep Iron & Steel... T0% T% % 70 |48 Paulo, City of. b8, 10:% ogends.. . they would bring, because the neces- ReynoldsSprings. 26 25 25 26 |340 '-‘1“)‘0-1 P Io0h e pethy 8 con :’ = sities of their holders compelled their Resnolan(E) ws % sk ok |Seine Doptot, T by Ete cony B, unloading regardless of the prices Toraibouy :;}4: & ti o |Sweden 6s 1063% jreat Northern gen 7. W *Who sold liberty bonds at 85 Royal i Swiss Confed s £ 8s.....122 1% ireat North gen 548 ek 10841 0 1d have doubted their eventus re- Peden St Joseph Lead. 8 16 Utd Kingdom 5%s'22.. 1) \ 10 Green Bay & W deb B. W W O to par. But it was a case of econ rus o es 1o Stard Oil K Barnesdall (B) StL & San Fran. .. 30% $0% Utd Kingdom 5s'29.. 10i's 107% Havana ;R L & P 58 % hard-pressed corporations and indi- | 3 : | Beechnut acking. St Louls Southwn. . 82 83% Utd Kingdom 5%s8'37.. 105 l\ul'- fi““"’" & Man ref 5s. !’l: viduals uncrlflclnfi tl;elr liberty har{g ! Ol ; ruguay ¥s 1946. w1 udson & Man a 6 holdings to provide tax money or INDEPENDENT B EaSin ooy oo N X B A : Ul Contral sare o it ik G an heededto cover losses | Are Purchased by ‘ : v ents in 100 Aetna ¢ Pl ot |Seaboard AlrLine. 7. 7 7 1 MISCELLANEOUS. Interboro-Met 4343, 16 shdiworkingrcap ioprenulren: | DLy cis. Sears Roebuck W W% N% 0% Interboro-Aet 4135 ctfs 15 16 thelr busin®ss. . Hrow/¢X) Shell Unton pf.... % % % 9% S fuibe 95% 99% | Inter-DMet 1,u ot Stay, i Trade Improvement Discounted. | Burns Bros (B) SinclatrOM. e, M%) 35, 3%/ su| AJaxRuoberSs....... B B8 5" | Inter Rap Tran s, -.s To a large extent, therefore, the ad- e atlo) (1) gage an Butte Copper ... STlint. o e i vamte. lsme | AT ARFLCUR g e: o s 0L T e e e i Ba s vance from the low points of 1921 was 3 Borie @ oananur, ey W% 1% 10w 0% | AT Smelung lacie.... S o' w4 |inter Rap Tran 7awi. in e nature of a recovery from prices . 5 riek. ... = e e ¢ - oAt ML b v low to prices | Buttesick Soutnern Pacific... %4 8% MW % |Am Tel& Telcv6s.....ls 118 16 | lnier & Great Nor Ssct.. S ot with ot lnvestnlent Co oratlon Southern Rallway. 2% 2T% 26% 25%| Am Tel & Tel cl tr 5 W% 10 1k 1:s:rcwh|" adj & values. But this recovery branched rp i Spicer MfgCo.... 2 2% 28 2% |4m el & Telcl tr & el [Py T & out in its subsequent stages into an up- . California Petroi. . Spicer Mg pf..... 96" 9% 9 % |Anton Jurgens cv 6s. e e e R Ty ward movement that was partly dis- = S llahan Zine. Stand Ofl of Calif.. 116 116 114% 14% | Armour & Co 434s. . s ith | Kansas Cluy Sou 3s 1950. 1% T counting Improvement in general trade adian Pacific. . Stand Ollof NJ... 187% 157% 187 187 | 4ijunuic Fruit 7s @Y Gely| Kansas City Sou 5s.... s oo and partly registering the effect of n alr ls "ase Threshins. Sterling Prod..... 62% b2t 62 bB2% | Atlantic Refining wty win | Kan City Term 4s. 5% bty gold inflation and the accompanying Leather StewartWarner... & # 4 & |Azucarca Baragua Ths. 10 Lo 1o | Louis & Nash unitic ne e e e s ookea | Central Leath pf. Stromberg Carb. 57 57 56 5 | Barnsdallsf s A. 5% 10o% | Market St Ry cons BN e For some time past 00] | Cerro de P’asco Studebaker. .. 130% 130% 129 13 | Bell Tel a8 s 18 | Min& St Lrefexts... h:r: fi as if ll;eboupdwnrd !nd';!un‘vlr;ent "orc |mn- j< 0. = s 5% 1 K W% 4 | Min&StLlstref4s “ vestment_bonds was pretty well com- | “hardier Motor Submarine Boat... &% 7 &% Bethlehem Ste. s % i Tot ¢ the highest grade | |i | Ches & Oalo.. . SweetsCoofAm... 3 3 3 3 |Hetnienem Steelst ey AkaTisis. s Phee“tinited Staten ‘Sovernment's: and 811 Vermont Avenue N.W. Shig Monof o [ 14, |} SETodsEatcog s MK&T 8B, B B Qe Municipals have been brought to Chi Great Westrn Temtor Corn (A).. 14 1% Chile Copper 6t w4 My aae T% 6% emla 312 to 4 per cent basis, and first- « | Chi Great W pf. Tenn Copper. . 0 10 10 10 {Ghue Copper UK&ETadi5a..... 108 13 wa |class railway mortgages which a year u. * 1 Chi Mil & St P. TexasCompany... 48% 4% 48 48 |Cioinnar Gasé E 5% o Pagific és.. ... 5% 12% | a0 returning to 51 to 6 per cent are aralOf Chi Mil & St P pt. TexasGulf Sulphur 6 567 G5 5% i, : Ao Pac 1st ref 5s '65. i seeming to vield only 4 to 415. Now = 3 i Mil & St P pi | Colorado Industrial 5 reselt % 6% . : Yo RN Toxas& Pacific. ... 3% 31 81 314 | conuton iR S o Pacific gen 4s. $%4 | That trade may be looked for to absord i |7 | Chi & Northwn p Texas& PC&OI.. 26% 264 26% 26% 1 0 Co 'V o ret Montreal Tram 1st 9% 9% i ereasing sums, and with a cessation | |l | | L o Third Avenue..... 2% 2% 2% | Gob Cout M3 dec oot B8 Nessu Blecly 4s 1467.. © 6 B ot the gona movement to this countzy. |l ik i > 5 Wi L 26 136 > X Centrai deb 6s. 7% | it is reasonable to conclude thal e i I 1R LA Pacifie. T'od;m:!::‘,‘;“ L;v %% ; ¢ |Cuban Am Sugar Y Central ref ump 3, v w-ldecnne in interest rates has reached ||| 2 | SCRILE L Prod A.. . s #g){ Detrolt Ealaon ref New Haven cv deb 6s.... 8% 6% tbh {its limit, and that the advance in in- | |l{ SRR ToOIStLE Weat. ., e 07| DEUIIETEEEEEENT N Havennon c db 45 '55. 58 58 65 |vestment issues based upon the fall Civett Peabody . oL 8E = ** | Donner Steel 7s. . Y Rysad) 5s 9% 9 9 |in money rates must be somewhere near | |||i| Coca-Cola. , 14| Du r'ont de Nem 7%8. s e w1 14 2% | a culmination. i Unia O 2014 w York State Ry 4135, 724 2% W% I Colo Fue! e Pt 5 153 | Duquesne Lignt 6s. Y West & Bos4%8. ... b6 6's estment Diverted to Stocks. i Golambia Guk. United Alloy Steel. 3s% 38% 29, | Emoire Gas & Fuel 7 orfolk & West cv 6., 123%:| But, with bonds selling where they ||!l| Sl United Drug....... 80% 8% 903 | sk Rubber 8s. . . Northern Pucific 3s. 6 [no longer appeal very strongly to the | |ii| o g 5 N l Solum United Retail Strs. 8% 8% 87 | Framerican [ D 7% Northern Pacitic 43 1 javerage investor, there has come the Instead of receiving only meager interest, or permitting USCastirPipe... 3% 4% sy Franciaco s:.“g,""" 1o2% 12 a2 | Northern Pac s tem; toos, | familiar descent’ of investment capitat [|iill funds from $100.00 and up to remain idle, invest TODAY in safe (| 2 USFoodProd..... 6% 74 T | e e Ss T31o e, l0% 10% loos | JOFLh Fac ref imp Gs. 1L, | Into securlties of inferior rank. This ||l 2nd sound First Trust Notes. The interest return is 7% from [(f! 00 miir ¢ > . Goodyear Tire 8s ‘31. e & Caliots 10 | 5 one of the explanations for the ) S ; rom 8 o A S HoCmRnMan £ 21 | B 2% | Goodyear Tire §5'41. ligg Oro & Cal nc ba. %oi: | sustained upward tendency to dividend- the day you invest and you never need to have a single minute’s [/ atom el Cons Textiie. g;:{'e‘:‘::y""“"l :H o 5| Holland American s £65. &3t bsly sov, [(JT€ ShOTL. et o | pa ing railway shares and the better || | worry as to the complete and certain safety of your principal [l Corn Products .- " s 1ot sk son | D) 0% | sort of industrials. il : : o US Rubber....... 65% 5% 54 l’})“"‘:";"{‘“"}_‘:fi::' " %' @ s |laris-Lyons-Med 6s. 51" The other phase of the advancing |||l and interest S ey A Yo U S Rubber 1st pf.. 9% 99% 6% | ':"7"’ sl;:ex Tetos'5z. 1u1% 101% 101% | bennsylvaniagendis... 9% 9% 4| movement is. of course, the speculative | |l anaia (o Cracibie U SSteel......... 105% 105% 104% 1047 | Indiana st 5 1% N | pennsylvania 6358 1ll% 1l lln|phase. Pools and individual operators | |iil elaria Mi Crucible Stee U'S Steel pf 122% 1227 122 122 | Inter Agricul Corp 58 e Shg | Pennsylvavia goid Ts.... 110t 109% 103% | feel secure of their credit supplics, They | ||l - n-Am St pEe 7 Inter Mer Marine 6: WA 8% WA ortland Ry L P 1st 5s... 87% 8/% Mi% |also know that they will be able (o ban-Am Sug pf. R e o O o | ntar papernatSaB.... 0% 00 s | (RS T L LU s 6 |borrow money indefinitely on very ’ uba Cane Sugar. L% UtahBecurities. ... 21 I EL B e OiLSs w o w8 | pPAREE Ly PR g% | comfortable terms. They are mot reci oo 1 BESCanaSpL: = N Vanadium Corp... 6% 61% 51% 61% | Lackawanna Steel 53°50. &5t 9% @i 50N S e " & e |oning upon any great trade boom be- — 2000 k1 Davidson Chem. st 6% |Va-CarChempf.. ¢ @& @ & |MagmaCoppercyis... .13, SLL &S Fprin 4 Tod W | CAUSe this cannol well occur without % f oo Ely Cons .o Deere Co pf 5 75% 751 | VIVAdOU...eesaee. 13% 13% 13% 13% .:‘"F“:Z'fffe:npv i StL&SFpriné A4 9 9% avival still seems some distance off. n Romw Eurekn Croesus . Delloch & Watn.. TUA THe U4 128 [ Wit 1% 1% 2% 1% | Aexiean Petroleum 8 AL % T4 18| These speculative interests, how- . < I rtuna BouieMinies.. ... 87 19" "ab" @i WAIRERL oecseon TR0 THE TR 10N St b w g |StLESFadiGs........ 6% 864 6% | ever, do look forward to a period in gl 2 e Rl et B Midvale Senik 994 ww s9y |SLP&KCSMLAs'4l & 8 8 |home industry which will be one of ||l Eastman Kodak.. 8 Wells-Fargo Exp.. 79 7 79 79 |sontana Power 38....4 5 @ |SanAntonio& A Pis... W% 8% 8% | good business volume and fair, if||| 913 15th St. Main 617 Electric Stor Bat. Webber &'Heilbrn 13% 14% 12% 13% | Morris & Co 1st 4%s. WH W W 'm. board A L ref 4s. 4% 5% | moderate, profits. The upshot is that | ||| o Hencietts Endicott-Johnson Western Elec pfd. 108 108% 108 108 | New kngland Telos wi. 100 wo% s9 | S000T0 310G 5y - they are’ In no. hurry to. @istribate ! il 500 Hilltop M 1% 15t Western Md. ... 15% 15% 5% 15% | New York Ed ls(’liy- 2% 12 12 {0 hoard A L con 68, the stocks which they are carrying, | | 200 Hollinger |-|~\:l Min Erie 18t pf...ceeee 25 25 25 Western Md 2d. 24 24 24 2 (NYGELH&PS 100 100 are ready to give prompt support ' I k Western Union. 18 116 | New York Tel 68 1941.... 107% 81% 911 | Whenever the market slips off. and to 3000 Jerone Verte Famous Players. .. 101! 101% 100% Westhse E & M. 64~ €3% 63% | New York Tel 4%48...... 96i3 89 g9 |offer their stocks in a leisurely man- 1000 La Fed Mines & S pf. Wheeling & L E. 18% 13% 13% 13% | North Amer Edison 8s... 9 Southern Ry gen 4 ner when prices advance. 23000 Lo Fisk Rubber...... Wheeling & LEpf. 25% 2% 25% 26% | Nor Ohio Tr & Liref 6s... 5% Southern Ry dev 6343, .. 1041 Not Upset Over Europe. i Ma Freeport Texas. White Eagle Oil.. 3I% 32 -31% 31% | Northern States Pow 5s. $4%y ‘minal Assoof St L 4s. 8315 831 s&si¢ The American security markets at 3 sen Am Tank Car 63 | White Motor...... 82l B2 bI1% B1% | Northwest Bell Tel 78... 108 Tuird Ave adj 5 7% 73 | no time have been in the least upset e Nl 3 4% | White OIl. . 8% B4 8% 8% Otls Steel T . 9% Union Paaific 1at 4 ss, sy | by the financial troubles of conti-| sen Asphait.. Wickwire Spencer.. 1% W% 144 1% | Otis Steel 8s. 1005 Jnion Pacific 1st ref nental Europe. They have ignored 80% U 8915 89y 182 | Wiison Company... 49% 4% 4T% 7% | pacific Gas & El 68, 943 Union Pacific cv 4 % o1y the talk often heard in Wall street| LO ANS (]l 100 New € 11% | Willys-Overland 7% % 7% 7% pacific Tel & Tel 5 virginian Ry 1st 5 9% 100 | 2nd outside that the German crisis J 100 Nipissing 1434 | Wiliys-Overland pf 4% 4% 44 44 | pac Tel & Tel s cf 2 # | \estern Maryland 4 e "0, land its possible ramifications must ; 5 | Woolworth +-.198 184 18 1% |pan-Amer P&T7 101 101% | western Pacific os. ¥hi i Wi ultimately have a serious reaction on oy | Wright Aero...... 10% 10 10% 10% | philadelphia Coref 6 A. I01% 1011 1013, sees 8 ¥4 | this side. § g = 9 et HIIL FIOF.-oeer 0 % Pierce Oildeb 88........ 99 99 gy TOTAL SALES (Par Value): The rebuttal argument has simply | i3 "rhe School of rience i andstorm Kendail, 0 u% HOURLY SALES OF STOCKS. Producers & Ref 85 war 116 118 115 R 3 {8700 been that we have no longer anything e oarica. 4] tam.... s 12m 419 20 |pinee Alegre7s'37.... 109 109 1o 12 noon. st | e o aropean Gumping of 5 ' N vc 1% e — Remington Arms 6s 1932. 97 %% 6% R DL ae T LIst SingoTW e Anajthoncred - Many persons buy our First Mortgages because, as [ :.-;:..: Yorthern pt. Uk backBkCOll {-1 ‘: ;3 l:}z lm: u;;:, SHORT-TERM SECURITIES, Furthermore, Wall street asserts they say, “they cannot longer afford to take risks.” They ¥ | Great Nor Ore. ... an suaron Steel 2 0% 1051 jgesg | (QUotations fumished by Redmond & Co.) |that our business has got used to have had their lesson in the School of Experience and ’ { Guif Mo & Nor 1 e Ol 7 101% 101% 101 =Gl . Gulf Mo & Nor .. a g}nc\(n:lr'“ o < % g, B Ofer have profited thereby. { | Guit States Steel. .. b inc Alumioum Co. of Amer. s 1925. 1 & e 28 soul;%'\“oé‘;lfig_t'!:x‘l- .:.:.':‘:n:"c:. :r“.::;v;;’ A }:."a:f N In Rhillips’ First Mortgages the prlv; pal X;EV‘IIER ’ | ce MIg. ... A Stan . American Sugar 5 045 1043 v P o, 3 = §%1 flii‘fffél‘f 82 P Steel & Tube 7s. ... 1 American Tel. & Tel. 6 F 100 1001y SHRINKS -m.i interest at.7/o..|rnves regularly when due. g a0 | Hudson Motol 2 A% 2 5 Tobacco Prod s £ 7 n Tobucco Co. 7 3 In convenient denominations, ¥ 1% | Hupp Motors 2% 2% 2% 4 Toledo Edison 1st 7s. e » % e e 5 . | Biydrauiic Steel. T Th Th m;:;“"m:c*,’,‘:f"' G s n aconds Cop 1020, . Let us manage Ask for Descriptive Booklet “A”—It’s free. { = Un! 2 3 ~ i uilinois Central 14% 14% | NEW YORK, September 16.—Gulf|ynited Fuel Gas s 98Y% 9 geuy ‘0. 78 1930. i your Rental Prop <gRe oyye 1 e W% loin Corporation. new stock, admitted | U'S tubbe 1st 8. - S % e % ooy erty. Over a Quar- am S. ps Q4 to trading 1ate Friday Sternont ¥ U i Lishtie o skt Taae o ter of a Century| First Mortgage Investments 4 L : . , s short session on 11st 5s.. 100 Experience, ¢ y i } % interboroush w.i. 3 30% 30 20% | the feature in today's sl Va-Car Chemical % 1004 1004 xperience. AT | Comtustion B. % s 2 | the curb exchange. V-Gar Cnem 7145782, loss 1K gk 1409 New York Ave. Main 4600 Beth Steel o, ° | Lnti Harvester 1% 1% 1% 1%} 4 gisposition on the part of op-|yg.Car Chemical7s... B 98% B SA CO ! z ‘ ‘. s = : 2| ind Mor Marine... 14 106 W4 14| 0or to take profits and even up!va-CarChemcv7hswr. % w8 gy I . K. UL o | LA T e T TN TN e T T e & 13 | Iatl Mer Marine pf. 30% B3 €9 50 ts for over the week ené served | Warner Sugar 7s 103% 103% 103% - % s é 1nt) Nickel. 74 7% 1% 17 |accounts for o rioes | Western Unlon 6 % uz .ne | EERCROICT T8 55 % 1412 Eye St. NW. | inti Paper. 504 B9 654 B9% | to bring. about somewhat lower prices | o oy ouse 78 o 108% 108% 108% | Kansas City Terminal Gs 1923. 1014 4 / Fifty-Three Years Without Loss L Invincibie Ofl. 4% 15 4% 15 |in most of the leading issues of the | CHC 0 o 1t s 102 101 101 | Kennecott Copper 7n 1030...... 104% 10 Main 2100 & 102 5 pit % % 64 6% & Cocv 1%, 108% 107% 108 | Libby, MeNeil & Libby 7s 1081 1028 108 2 g To An Investor w0 Towa Centr: o s . |Previous day. ‘Wilson M., 8t. P. & S. 8. M. 6%y 1931, 10513 107 ; 10mi 108 Iron Products. 4!* = “% %| Simms Petroleum was an exception wxmn&c:;vncn l:" 1:: m‘:‘é Peapa R 1t 75 1030, 114 I t B iy 1siand Oil and continued active and higher. Win Repea BtTRauIIUAIS Depot Siie s 100 We Offer for Investmen ———— - 10215 1 i 19% 18% 18% | Among Standard Oil issuer the New Sears, Roebnek & Co. i 1923 Jon' - Jor 1ne 18 j:::.l;:: 2% Gl% 62%| York snares passed their previous DIVIDENDS. Squtliwestern Bell, 73 1925, 18 Real Estate Notes ¥ . high for the yeur, while Stand: i b Kansas&GulfCo.. 4% &% 4% 4% !of Tndiana went lower. T e | e & G, 1037 || of rpoponaivie makers securs? HeiD 'ox . KansasCity Sou... 2% 8% 8% % | Ofcial announcement was made| . o000 | Edemater S 108y || eppe J W on---1he KansasCSoupf.. &% &% 8% &% | that stockholders of Oklahoma GasPrairie Pipe Line Co. exirm, - % | Goigh RUiL e, o Yong: =% ey oo raeEst ® T Kayser (Julius).. 45% 5% (6% 45% | Company have approved of the plan| 2, also regular quar. 83.. .30 | B S i 13 || emower 28 Toter *R ft . - - % 4% 4% |to segregate the company’s oil and | Hudson Motor Co., quarterly, *Called October 15. 1922, at 10115, o] t Pr Interh R T S k3 Kelly-Spring Tire.. &% &% a4 HI 5 Sept.25| fCalled February 15, 1033, at 1033, 0S| osperous L AL TR e Kennecott......... 36% 6% :t% 6% | Basoline properties. ] 50 cents . o pt. 3 . Bank of Bethesda, Md. 4 Kana'cus & Elec 01, o313 Keyitone Tire...~ 84 % i 6K New Corporation. B Hknes K01 KO0 2 (8ot 50 SREASUFY. CRTIFICATES. Ci & National Atme Tha. w0 corporation will be formed | quar., 1%% on Pfd... 2 Bept. T Saitonat AR AR gt [ Eecoeme il { iy e i capttal of 1206000 | ineialr _Comolitated 01 (Quotations furnished by Redmond & Co.) — 2% National Leather 8s M5 1011, clede o 1 par value, ockholders .0 rterly, 50 cents 1 P 3 PR Her Sl 100 109 109 | LceTire & Rubbor. 28 %5 1 25 | i be Dermitted to subscribe for two | SR . < Nor. 16 Oct. 14 e Money to Loan HE Commissioner of Internal 2 Hobert Gair " 10012 hi2 '0ni | Lebiga Valley..... T0% T0% 70 1 |ghares of mew stock for each share | Hudson Trust C dusiiety, o sor setoa0| L QoiieE 1020 . 100 e i Revenue’s report for the fiscal — 2 Shawshe 1087 1 | Luma Locomotive.. 6 6 62% 6% of old. The proceeds are to be usedq =W ... ociiilcy S Pecember 15, 1095...7 100 7.2 Becured by et e o commiveion: year 1922 shows the District of 7 Soutn Bell T sy 1wy Loews lnc. to liquidate the present floating in-| USRSl Loy also’ regu: s March 15, 10 18 100716 T Weller &0 Wath. L & Trust Columbia 56 e o B Stan OfF N Y 106L, 1061, Loft Inc. debtedness of the company. A bid of i 7° 1, e en ‘b Oct. 2 Sept. 20 % June 15, 16 10516 | Joseph 1. WelleTsiae. oth ana # ww. = per more pros- ‘ 6 Sun_OIl 6. 100 - 0% 1% was made in the market for the | xaufmann Dept. Store = June 15, 1924 © 10218-16 102 15-16 perous than any other place in the =3 S &Y T e a0a Mack Truek atock, imar 1% on pid.oc 0t 2 Seqt. 20| 3us Keptember 15, 103411 103 1116 102 1310 United States. While all the States and 1 Tidal Osage Ts 104% 104% 104% | Mallinson & Co. ... New York Telephone nr;{elrz-reg-tw“ 3'1"15“':,‘.?"9“1&}:&, " Nov. 1 Oct. 20 100 816 100 1116 ITABLE territories show a decrease, averaging 35%, 23 Ua Oil Calif fs..... 102" 101% 102 ' | Mfanati Sugar pf.. in demand again, while Schulte Stores | | BL.00 of B 2o 101% 6 1% i their payments of income and profit taxes, s R e L T o n Eiev. . continued to sell off. quarterly, 1%% et £l = the District of Columbia shows an actual net | Manhat Elev ctfs. Chain Stores. Thon and 1%% % tive Buildin, , 3 % | Manhattan Shirt. The buying movement in depart- R —— perat gain over 1921 of 21%. | Marland Ol ment and chain store issues was ; FOREIGN EXCHANGE. Association - % A Martin-Parry..... 3% checked. Timken Roller Bearing, aft- (Quotations furnished by W. B. Hibbs & Co.) Such conyincing evidence of prosperity and 15 Cana_Steamship Ts. 90% 06% 96% | Maxwell (A) er f‘fly weakness, regained some of Belling nu\;-‘—zaunn m Organized 1879 stability in the N;M::l Capital must have a King Netherlands s, 953 05% 655 | Maxwell (B). its loss. strong attraction for i':; 53.’.: 5":.,; oats 85 L g}"' May Dept Stor Con;lne&ul x:':nog‘upuuted its 424 YEAR COMPLETED 'hn:” irhctioe oo : fmh e :. investor ex. Gov = or the ¢ . $4,408,629.00 ties shrink 1 Paniists Rwy .00 09 ' 90 = g0 |Mcintyre Forcu - B N riced mining shares were ac- Pt I3 114440400 elsewhere. Our record of more than half a b e | Mex Seaboard O1l... 5% tive again. Magma Copper held airm. oo century of service without loss to a client is is Steel Compan. in accord with the conservatis d stabili Mexican Sebd c! oti - 5 . . e m and s COMPANY TO RECAPITALIZE. | yi{adie States Oil.. 13% removed from trading today. 4 Systematic Savings ;}:u-.b surround property values at the seat ?f NEW YORK, September 16.—Stock- | Midvale Steel. .. Sy . Bythe Associated Press. . government. holders of the New York Alr Brake|Minn&StL (n)... &% NEW YORK DRY GOODS. NEW YORK, September 16.—Foreign Always Efiechve-e‘ ; i & Company approved the recently an- “:K &TIstpd... 46% NEW. YORK, September 16 (Spe- exchange steady. Great Britaln, de- Sl B - ,m_ Ry The First Mortgage Notes we offer may be nounced plan for financing and re- |y, pacific. clal).—The market for eonon_ cloth mand, 4.42%; cables, 4.42%; sixty-day our systematic savings plan. ! had in convenient I.n-h.nhn r-yh.fu- capitalization. Holders of existing wound up an excellent week's busi- ‘| bitls on banks, 4:40%. France, de- ‘.. $100 to $100,000. $10,000,000 capital stock will receive ness today with general interest ex- J mand, ".0767%; cables, .0768. Italy, "m',"';"" two shares of new no par common 11 ~stanidard con- jecial).— 5 - 0420, % Stock - for each share of old, and the priv-| Moon Motors.. hibited in nearly al e BOSTON, September 16 (Spe: )' = demand, ousdsfi Me;-:lu.mouao Bel 83d Issue flege, up to October 18, of subscribing | Mother Lode Cltn. 11% structions. Prices were ng, Dealers and manufacturers expres: glum, demand, . ; cables, .0715%. Being Recelved - At 350 & share {0 & new lssue of 100.- s ing firmly to gains made '-h"g:’l““‘ the bellef today that the Boston wool | Germany, demand, .0006 9-16; cables, Per Month B e e il & et M SN e ek s e 0 micwents | market has practically discounted the | 0006%. - Holland, demand, .3871; ca- ||| Shares, $2.50 Per ¥ e latter is o ot; ‘mal o o i quarterly dividends at a rate of $4 a|xevada Copper.s.. 15% Tor fourth quarter delivery at fresent |effects of the wool schedule of the|ples, 8876. Norway, demand, .16§0. )wamdlqflmal‘lmca 2 ihare annually, and shares equally | New orrers M. .. 811 Price lavels: This was especially. n0- | coo gariff bill. Dealings were fairly | Sweden, aQ’mna. 364 penmark, | I EQUITABLE BUILDING with the common {n additional div- | NV A\ Brake..... 82 ticeable in shestings. Sateens were | 'S0 T o " i manutacturers of | demand, .2118. Switserland, demand, 72 1 2} Stmt w {dends after Che comTaon/ias tooniyed P ¥ Contink. In_fine demaid at fem Ggures. d worsteds In the market |.1872. Spain, demiand, .1516. Greece, 915 F St. NW. - We . §4 a share In any year. STaseL - ‘Raw silk prices were fairly unigorm |woolens an t|. jpain, ., 15 4 e = : D 247 T s ke Hie"weaaets TaowR i3 |07 by wnde, Fritr ot £, domane S Rk sheprs S ||| somy_sor mpmon, pretie b : < 3 nd the general, 0 7 . Ar- s 3 The Virginia League of Woman Vot- | N Y O & Western.. 21 the ‘position of sellers, although & |ceedingly firm a 5 a .3575. " Brazil, de- ers has been using radio to broadcast genti mand,... th k higher than on last Norfolk & Western. 128% ;l‘o;_fl‘“: 'n lth small volume of business was trans- & course on citizenship,