Evening Star Newspaper, November 25, 1922, Page 16

7 MONEY LIKELY T0 . BEEASIER LATER After January Disburse- ments—Factoi;s to Be Considered. Money will work easier after the first the year, when the outpouring of dividend and interest payments, for which the banks and corporations of the re preparing, is turned over to fnvestors and others. Pending that time, there may be littie Aurries, but the chances seem to favor -ontinuation of liberal supply and the rates that have been so noticeable «uring the entire year, with the excep- Lton of rare flurries. The ‘same causes will make for easy Merchants will keep to the ice of going to the market often; they will replenish stocks when neces- sary and will not lay in large stocks to e ‘liquidated at any old price, and to clutter shelves for months. They have learned the le country ns of 1920- 21. The idea of carrving two or three stocks, paying insurance. storage, etc. and then selling reductions while values deteriorate, Hence they will money with not _inviting. not be borrowers ‘thin e old-time ireedom. Bankers have wondered at the manner in which retailers have s largely financed themselves during e vear to date. With nearly nineteen continuous bull murkets. centage of reserve to combined federal reserve b per cent, as compared veur ago. ‘The cush reserves in lie banks amounts to $3.218.638.000. But for the perpetual need of the 1nited States as the chief borrower from the banks of the country and rough them from the people, money wonld be cven easier than it is. months of the per- ¢ scarcely probable that call Se¢ will _get und, per cent m Rfier Decomber 31, tediscounting of member ks is no means active, another gn of frclative ease in the money market. Local Securities. The leading public utility stocks are still very dull, but held with de- i being asked for for Railway com- ilway preferred ex rction, 6 S for Ra lividend. 1t is probubie that the \sking Drices W better reflex of s market t the bid quot ns. It also is v, hat th market for the uti ting for some- ng other than the disposition of big money in the Potomac Elec- pool hington. Alex- dria and Mount Vernon per cent s made at 4 6 a point | off from the last previous sal apital Traction os brought 97k. n the stock li E at Shlga t Gas. curity and Tr i ‘urnisned the chief business in a dull Old Dutch sold at ¢!z for the com- mon and & for the preferred. —_— Washington Stock Exchange SALLES, Alexondria aud Mount Vernon 1.000 at 24 $1.000 at 24, ifar). 0 at { Washiczton. G £1.000 at 1000 at 24. $1,000 at Washington Gax L 10 at Tru -10 ar <3, 4 at 2R3 i Tanston Monotype—10 at 7 Capital Tractinn Ol Duteh Market con 0ld Duich Market pfd.—10 at . BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bld. 903, 0 Asked. American Tel. and Telga. 4% 01 American Tel. and Telga < Am. Tel and Tel. ct! Ani Tel. and Tel. con costia and Potomac ix. costia and Potomnc gusr. 5. and Potormac Telephone abd P. Telephone of_Va. 5 capital Teaction R. R. 13ty and Suburban rgetorn Gas lst holitan R. R. ist cons. eb. 6 ower g, m. £ . & o Mt, Ver. & An. Yo Yotomae Elec. Potomac Electr: Pat. Po Wann., Alex. & ash.. “Balto. ‘ashington € hingion Gas jhington Rws. and fws. & Eiee. £ m. MISCELLANEOUS. D. C. Paper Mfg. 6s. Riggs Realty s (long). Riggs Realty Gs (short)...... Recurity Storage & Safe Dep. Market Cold Storage an Park Hotel 6. STOCKS. PUBLIC UTILITY. American Tel. and Telga. 1 Tea ngton_Gas W I‘\\‘-rdm vol ‘ommercial instrict rmers’ and ‘ederal-American Liberty ond 150 hington 190 TRUST COMPANY. \merlcan Security and Trust.. 262 285 Continental _Trus 90 95 ooal Savings apd Trust. .l 285 320 1 nion Trust .. J 140 145 Washingtoa Losn and Trust 325 SAVINGS BANK. TITLE INSURANCE. Columbia ... Real Estate... MISCELLANEOUS. Columbla Graphophone com. #h. ¢ Paper pfd Merchants' Transfer and Storage Mergenthaler Linotype Did "Duteh Market com. 014 Duteh Market pfd nston Monotype IRISH REBELS CAPTURED. Gen. Kilroy and Seventy Men Tak- en by Free State Troops. By the Associated Preas. 3 DUBLIN, November 25.—Gen. Kilroy and seventy men of his irregular forces have been captured by Gen. McKeown of the Free State army near Newport. The capture was due to an encircling movement by the|’ national forces, which had been in progress in County Mayo during fhe past few days. The Free Staters lost three men killed in the operation. A aispatch from Léndon on Thurs- day announced the departure of Irish Fovernment troops for Newport to Terminate republican military rule in the little town, which has a popula- lion of less than 500 and which had| heen held for some time by Gen, Kil- roy. £ ——— Northern Pacific earned for nine months ended September 30, 1922, net income $4,709,825 after tax charges, «qual to $1.90 a share on outstanding 2343,000,000 capital stock. FINANCIAL o Received by Private Wire BY WILLIAM F. HEFFERNAN. NEW YORK, November —The | curb exchange was subjected to the -same heavy selling pressure today that was in evidence on the stock exchange and for the same general reason—namely, that speculative ac- counts, overloaded during the cam- paign of last spring and:summer, had be cut down, regardless of the| sacrifice involved. This forced selling bore most severely against the Standard Oils because thix was the group which had had the greatest rise in the market of a month or 1wo ago. Standard of Indiana was the leader with quite a violent break. It left off 8 points lower on the week. Standard of New York fell points, Jwith a corresponding decline in the | on new $25 Pe- ) par shares. Vacuum Oi andard v and the new ndard Of hares were very Magnolia YORK. November 1~ lowing is ailist of today’'s highest, lowest and closing prices for the most active bonds and stocks dealt in on the New York Curb Market: Sales in BONDS. thousands 1 Allied Packers 6 4 Allied Suth Reth 1 Cent Steel Steel teol R aph 8s! 1 Lehigh Power ... .. 1 Manitoba Pred Ivorine O FOR Argentina Kiug of King of 10 3ex’ G 5 Mex Govt W Rep of Pern s 24 Rep of Chil» 19 Russian 1 Russian 1 Swiss Goy: 3T S of Mex dx INDUSTRIALS 18 Acme Coal ... | 5 Budas Buds 1 Celluloid 4 Chic Nipple 1 Denv & Rio G pfd.. 24 Durant Motor ... 1 Goodyear Tire pfd. . Goodsear prior ptd. 1 Hegden Clem .... 5 Mercer Mot vot ¢ | | i { . i @l 1 Perfecti | ip Morris. . i wa Badio Co.... 11y 1 Phoenix Hose pfd.. 100 | 1 Pyrene Mfx 0 0 33 Itadio Corp .. % o | % Radio Corp p i & ' 10 United Prof Sh new nited Retail Candy S Lt & Ht .. Lt & Ht ptd Mont. .. Post & Mont Cory 30 Canada " Cop ¢ Canario 80 Candelaria Min lumbia Emerald. . ns Cop Mi te cfs 1 Corp Mines of Am . 23 Cortez Silver 4 Cresson Gold 13 Dear Cons. 14 Dolores E 20 Emma Silver . 70 Eureka Croesus .. 80 Fortuna Mines 30 Goldfield TDeep 20 Gold Zone Hollinger 10 Hecla Mine 2 Howe Sound . 40 Tndependence Les 1 Jerome Devel. 20 Knox Divide 20 Lone Star . 1 2 Magon _Val 20 MeN Cres 40 evada Ophir § 10 evada Sil Horn.. . 4 Nipissing 5 30 Ohio _Cop 28 Ray Hercules 120 Richmond Cop. 30 Silver M of Ame 10 Silver Pick . 10 § Silver Lea 10 Simon Silver . 1 8o Am Gold & P. 10 Spearhead Gold . 20 Success Mines . 11 Teck Hughes . ming Min. 10 Tono Cash Boy. 21 Tonopah Divide . 6 Tonopah Extens. 1 Tonopah Min . 10 Tonopah North 50 Tri Bullion 10 'Tuolumne 17 United Eas 20 U B Continents 3 West End Consol 10 West End Con Ext. 10 White Caps INDEPENDENT OIL STOCKS. 60 Allen Oil 140 Roone Oil 1 Roston: W 8 Carib Synd . 1 Cit Serv 2 Cit Serv. ! 1 Cit Serv BE pfd 2 Creole Synd 180 Engineers 4 Federal Oil 13 Fensland OIl . 1 Gilliland Oil ° 10 Glen Rock Of ... 14 Guif Oil; of Penna. 10 Hudson 011 30 Keystone Hang 10 Lance Creek 10 Latin Amer 38 Liviogaton Pet . 10 Lyons Pet . 41 Mammoth 01 2 Lowry Oil.. 19 Marland . 24 Maracaibo Oil 1 Merritt Ofl . 3 Mex Oil . 20 Midwest-Tex 8 Mountain Prod 36 Mutual OIl . 1 New Eng Fu 10 Northwest OIl ew York O | | 7 Omar Oil & Gas 1 Tig o 13 Pennock 0L 8! &% 8y 10 Red Bank OIl a8 167 16 8 Salt Creek new.... 19% ‘10 19% 1 14 Seaboard Oil.. 23 29 39 Shell Union Ol wi. 9% 91 21 Simms_ Pet... 25 3 3y 24 South States O] 13 100: Texon Oil & La; E 3 Pieloll' s Pl Wilcox 9 “2Eon 08 0 Sales STANDARD OIL ISSUES. ip units. eaLt 1200 Anglo-Am il 4 y 18! 00 Attantic Lobos - Lt 4 250 Buckeye P L. 108% 107" 07 78 Crescen . a 4 4 52 51 61 170 NEW YORK CURB MARKET i No. 3 wells in Toteco, belonging to Gulf i plants by the Bethlehem corporation | “\‘lll be taken up Monday for formal proposed acquirement of the Lacka- | merg | Bethlehem Steel Corporation has an- A | bria jat a special meeting of the board of | | stated today. land” canvas from superfiuous stores | to stockholders of record ‘December | Sto THE EVENING STAR, WASHINGTON, D. C. SATURDAY. GAINS IN U. S. FOREIGN TRADE ARE EXPECTED TO CONTINUE Direct to The Star Office. weak and so were the pipe line stocks. Prairie Pipe broke 10 points. Ohio Oil announced a_ dividend of $3 a share on the 600,000 shares of capital stock, payable to holders of record De- cember 1. Stockholders also approved an increase in the capital from $15,000.- 000 to $60,000,000. This increase will be used for the 300 per cent stock divi- end. . The weakness in the Standard Oils extended to the independent ofl shares. There were reports of salt water in the Oil of Pennsylvania, and these brought heavy selling into the stock. Maracaibo, Mammoth Oil and City Service were all prominent in the decline. The remarkable feature in the indus- trial section was the advance in Schylte Retail Stores stock against the marflet. There was no explanation other than u statement made some time ago by the president that the stock would go a $5 dividend basis xome time next year. Motor shares moved with the rest of the market, with the exception of Peer- less, which was up over a point. Southern St Ol Calif new. St 0il Indiana St 0il 0it 5 0il N York new. 0l N Jer new.. mum- Oil..... Vacuum Ofl new. ] 31 B38% * 610 383, FEDERAL TRADE BOARD TOSTUDY STEEL PLAN Announced Merger Has Not Yet| Been Approved by United States Agency. Acquisition of the Midvale steel | consideration by the Federal Trade Commission, it was said today by Chairman Gaskill. What further ac- tion the commission may take, if any, will be determined at that time. The merger operations in the steel recent announced, re- the issuance of a complaint ¥ the commission directed agalnst he Bethiehem company because of its wanna plant 1p the ¢ Investigation following mplaint is still under way, ‘et been brought to hear- : nce of the Monday meet- ing there no information available at the commission to show what view its membership might take of rae new | proposal. YORK, November s not dv NEW 25 —The nounced that ch; of the nance Compan contracts for the pur- Midvale Steel and Ord- y. exciuding the ordnance nt at Nicetown, Pa.. and the Cam. Steel Company, were authorized | directors yesterday. —_— SHIPPING BOARD SUED. In $125,000 Case Complainants Al- —lege Breach of Contract. BALTIMORE. The United Md., November 25— r States 'Shipping Board, Emergency Fleet Corpoation. was made defendant in a $126.000 suit| brought by the H. Crook Com- pany, Inc. in United States court here for ulleged loss suffered as a result of the board's violating a con- tract for the building of vessels. The Crook Company, which has a shipbuilding plant wn_ the Patapsco ri alleges the Shipping Board con- ted with the company for the uilding in 191S of three wooden schooner barges for $190,000 each. | ! { Market Flashes at Today’s Close Simms Petroleum is producing and moving 15.000 barrels of clean oil and 3.500 barrels of crude oil daily in the Smackover field, it was officially Goodyear Tire and Rubber Company will revise its selling prices because of the continued trend upward on prices of rubber, cotton fabric and other raw materials entering into the construction of mechanical rubber goods. A London cable states that 3,000.000 i yards of tweeds and serges and 6,000, 000 yards of cotton linings, trimmings for disabled soldiers, sold three yea ago by the government to an India firm, have been thrown on the market iémrér!ces below present production Oil imports to the United Kingdom | during the week ending November 20 totaled 24,000,000 imperial gallons. Regular quarterly dividends to Swift & Co., $2, oy payable January 1 9; General Electric Company, $2 a share on_common and an initial divi- dend of 15 cents a share on the spe- cial, both payable January 13 to stock- holders of record December 7. The Pittsburgh Plate Glass Compan: has declared an extra cash dividend of 5 per cent, payable January 20 to stockholders of record January 5, and the usual quarterly dividend of 2 per cent, payable December 31 to stock- holders of record December 15. Di- rectors will vote January 29 on de- claring a 30 per cent stock dividend. CLEARING HOUSE FUNDS. NEW YORK, November 25.—Théac- tual condition of the clearing house banks and trust companies for the week shows a deficit in reserve of $5,568,010. This is an increase in re- serves of $14,074,590. —_— CHICAGO STOCK MARKET. _ CHICAGO, November 25.—Following is a report of today's sales, high, low and closing quotations at the Chicago Exchange: Sales High. Low. Close. 105 Armour & Co. pfd.. 99% 991 99 10 Armour Teather.... 121 128 12 400 Chic Elev Rys pfd 8.4 5% Big 48 Com'wealth Edison. 136% 136~ 138% 0 Diamond Match.... 120”120 12 2 Libby-McNeil 7 TR T% = % 155 Mld-West prior lien 104 180 Montgomery Ward. 20% 8700 Piggly-Wiggly “A' 443 1437 Stewart-W 57 33 Wrigley. 125 Yellow Taxi. BOSTON STOCK MARKET. BOSTON, November 25.—Following is a list of today's highest, lowest and closing_ prices for the most ac- tive stocks dealt in here: . High. Low. Close. 88 58 l‘z* l}g‘fi l:g% ’ Ok W Boston & ine. H::Inn Mfl’n’l‘ 81 81 81 Calumet & Arizona. . 53 53 53 melnk Hecla .. ’;‘6’ 2}\; _“';g Copper Range : Davis Daily . 2% 2% 2% Island_Creek 104 1047 108 Mass. ‘G 601, 69! Y% Mobawk . 56 B4 85 New Cornelia 15% 18 16% a ¢ 0r 107 Swift & Co. P % {reserve system, PUBLIC STAYS 0UT OF WALL STREET Buying Power Absent During Week as Bears Force Stock Prices Down. i | By the Associated Press. NEW YORK, November 25.—Public buying power was noticeably conspicu- ous for its absence in this week's stock market, speculators for the decline being in control most of the time and hammering down prices of active shares 1 to 6 points. Bond prices also fell to lower ground. Prices of stocks moved In seeming dis- regard of outside news developments, most of which were favorable. Soldiers® bonus, amendment of the transportation act, detrimental tax legislation and tarift reduction were some of the buga- boos used by short interests in their campalgn to depress prices, but conser- vative interests generally placed little rellance on these so-called “reasons” for the decline. . Profesaionals in Contrel. In view of the fact that railroad shares, which had offered good re- sistance during the early part of the reaction, were the most vulnerable tar- gets during the past week, there was ground for the bellet that the course of prices was part of the general correc- tion of the market's technical condition, which had been weakened by the ex- cited speculation which followed first blg_announcements of stock divi- dends. Bank and stock exchange pres- sure to force a reduction of brokers' loans also was a factor. Opinion was sharply divided at the end of the wee as to whether or not the reaction nad been overdone. Trading during the week was in the | hands of professionals, and they were bearish. Several half-hearted ~at- tempts were made to rally the list, but they fell down because of the failure to attract an outside follow- ing. The volume of business was con- siderably reduced. Steel Outlook Bright. Weekly reviews of the steel indus- try were encouraging, production figures showing that plants were working at 80 per cent of capacity, the highest since 1920. A month ago it was 70 per cent, and at the end of August, when the fuel crisis and shopmen's strike were at the worst, it was down to nearly 50. r loadings of revenue freight howed a decrease, indicaling that the peak of traflic for this year had been passed. The declaration of Presi- dent Daniel Willard of the Baltimore and Ohlo system that the shopmen's strike had cost that road more than $1.000,000 caused somewhat of & shock'In the financial community. Oc- tober offerings statement also failed to come up to expectations. Exports Highest in Year. Preliminary figures on October e ports showed them to be the highes of the year. This probably can be ac- counted for by the fact that they in- cluded more than a million bushels of wheat over the amount exported during the same month last year, and at higher prices. Grain prices eased off a bit during the week. while cot- ton prices showed little change. November building operations are running about 20 per cent over the same month last year, according to a national survey made public by S. W._ Straus & Co. The vear's op- erations are estimated at $3.775, 000,000, or more than twice those of 191 The price tendency in bullding ma- terfals is slightly upward. Easier Money Likely. The usual relaxation of the sea- sonal demand for credit is shown in the weekly statement of the federal indicating a period of easier money conditions. The ratio of total reserves to deposit and federal reserve note liabllities com- bined was 76.7 per cent for the entire system as compared with 75.2 a week ago. Most of the time money business was done on a b per cent basis, mare funds being available for lending purposes toward the end of the week. Per cent basis Forelgn Exchange Improves. Substantial improvement was shown in foreign exchange rates. Demand sterling touched $4.30, but eased off to $4.49% at the end of the week, representing_a net weekly gain of nearly 2 cents at that figure. Francs got as high as 7.41 in the early part of the week, but fell later to around | 7.15. Canadian exchange was quoted at a discount for the first time since the latter part of September. |EXCHANGE IS PROBING OIL'STOCK SENSATION North American Put on List One Day and Stricken off Next. By the Associated Press, NEW YORK, November 25.—Three committees of the New York Stock Exchange today began an investiga- tion of the circumstances surround- ing the listing of shares of the North American Oil Company on the ex- change. The stocks, listed Wednes- day, were withdrawn suddenly yes- terday when the best bid was 810! per share. The stock had closed at $30 Thursday, when about 1,200 shares changed hands. This was said to be the first time in the history of the exchange that a stock listed on one day was strick- en from the list after one day’s trad- ing. Striking from the list is unusual and happens only when one corpora- tion has been merged with another, when its transfer office is closed here or when for some reason or another the governors of the exchangs believe that a corner has developed in the stock. . Separate inquiries were under way by the governing committee, the list- ing committee and the policy com- mittee. [ — DIVIDENDS. Stock ot Pay- record. 3 Atlantic Terra Cotta C e 1%, "prd. Dec.18 Bogtan Wores Hogie Ribber | Ede Pitts! R R G, & i Fedeat Sugal eing ® stock, 0% Tayl TAREFF HELPS WOOL. SALT LAKE CITY, Utah, November 26.—Bellef that improved market con- ditions for wool and sheep would con- tinue during 1923 was expressed by F. R. Marshall, executive secretary of the National Wool Growers' Associa- tion, in a statement issued here.. Mr. Marshall said the recently enacted emergency tariff act was already proving & boon to the wool growers and that the 1922 wool clip was en- tirely marketed. —_— Unofficial reports were circulated in ‘Wall street yesterday that before the end of the current year Mexican Pe- troleum Company would distrbute.a sigable extra dividend out of its cash lus, which amounts to approxi-- mately '1!.’00.20'. BY STUART P. WEST. Special Correspondent of The Star. NEW YORK, November 25.—The course of stock exchange prices has been at variance with developments in the situation outside again this week. Home trade news has been uniformly favorable. The steel mills are employed up to nearly 80 per cent of capacity, as against 70 per cent a month ago and 50 per cent, the low of the summer, when the fuel shortage had compelled a gen- eral shutting down of plants. Statements of the porphyry copper companies have shown that in the third quarter of the year there wus a decided improvement in the earn- ! | | | OVEMBER Even Bankrupt Nations Have to Buy Foodstuffs and Raw Materials. Outlook Improves. \ 1922, 25, crease in staple shipments to the other side. But two important di closures were brought out by the Oc- tober figures, One was that in the first month under the mnew tariff schedules the foreign demand had not been adversely affected. The other was that, despite the depreciation in continental currencies since the first of the vear, and despite the supposed diminution ‘of European buying pow- er, foreign nations were able to take $100.000,000 more American goods in October than they did as the average of last January and February. Curtaflment of Buying Unlikely. The fact which alarmist eritics con- tinually set uside when referring to Xurope's economic troubles and their possible effect upon the United States is that even.if a country goes bank- rupt it does not mean an entire loss 1 The bulk of the commercial | paper business was done on a 4% | ings of these companies owing to aiof ability to buy. Such a country Is reduction of costs, and it is quite{still producing and selling its prod- certain that this improvement will |ucts abroad. It, therefore, still has not only be maintained, but increased, | tha means to buy the ne ties of in_the fourth quarter. business life—foodstuffs and raw Refined sugar prices have again|materials. Analy f what conti- touched the high of the year and the | nental Europe has been purchasing raw sugar producers, who ‘twelve'from America for the last twelve months ago had marked down theil j months shows that it is down pretiy product below 2 cents a pound, are | well to these two necessaries, and the not willing to sell for less than 4! conclusion from this is that further cents. These are proofs in three oflcyrtailment is quite uniikely under the most representative lines of in-liny conreivable circumstan duslr)‘xlhn( the trend is distinetly | ek ae ituption: TapRoved: upward. | : #® | Further reduction in French bank Market Ignores Outside Factors. The stock market, and to some ex- tent the bond market also. continued | tqined to ignore these facts. There is no zood reason why this should be so. It simply has to be remembered that when a Wall street situation is called upon to undo past excesses, when the d by @ the sus- in Italian lire pound sterling; the highest of vorable symptoms 1 of the week note circul; )my further recovery in the franc imarovement rn of the nts and the r jto within 3 the year, are in the i authorities are forcing houses and | the othier haud, the o e - individuals carrying too many stoc 1.800,060,000 franes in French to_unload, outside conditions are | (V0TI e ase two mmporrarll;r‘ x;m sight of and values | "0 hoe anly been made possible icount for little. v 1a A,.-A,. s by » govern- | A readjustment within the raarket | bY 1aTge repavments by Uho gOVETD itself is still the main thing there is| Mt to 1he Bunk Of FRELCE . to be seen in the recent decline on | These TeRANICNIS SSURCL 0 the stock exchange. Now and then predictions are heard that 1923, after, ODerating at a huw all, will not be a good year for busi- | Seauently the douh ness -and that the Wall street ma 1to whether the detlation that has oc- kets have been preparing themselyes | curred since the summer will turn accordingly. These, however, are]Oul to be more than temporary. the statements of individual opinions Politics and the Railrond unsupported by any convincing rea- e son and entirely opposed 1o the feecl- e andibonge have gone ing of the great majority amons the P Werk, and this nat- leaders of the business world i s European Conditions Bett In the same way, despite the many proofs to the contrary, the old fetich persiats that our financial situation is bound to be affected by the economic crisis in continental Kuroge. This is put forward as another reason for the decline of the last two months in the stock market. The truth is that fon the one hand, European conditions | are distinctly better than they were in the middle of September and that on the other hand, whatever happens abroad the foreign demand for Amer- ican products is already down to the minimum, beyond which it is mnot; likely to g0, and that our present | cover| commercial life during the past vear | doubtedly has become adjusted to the losses in| Quite po s thought the foreign trade. hehind some of the recent No doubt it is true that the § list although 000,000 export total for October—con like that in siderably the largest of any month this year—was due to the recent rise in farm prices. plus the seasonal in- | SNOW STOPS FIRE INNARYLAND HILLS, Storm Extinguishes Blaze ciemenceau, former premier France, now visiting in this count After Several Days of I feit ashamed.” said Mr. Daniels. Futile Fighting. deficit, and con- will be raised as for the amerd- tion act. The! s is that the pro- | that will per- at le i to more u ment of the In addition to this the atte be to 1 g0 on the ket of hard: DANIELS HITS SENATORS. Thinks Clemenceau's Age Entitled Him to Some Respect. NEWAR T November Josephus Daniels, former Secretary of the Navy. last night criticized mem- bers of the United States Senate for Georges of ! | “when senators of the United States | fatled to give a welcome to the Tiger | France. He's telling us some u able truths, It is true, and while not concur w think ti his Iis in_some. vet 1 y-one, with n. might be ened to at least with respect.” Mr. Daniels lectured before mem- | hers of St. Luke's Episcopal Church here last night. Special Dispateh to The Star. HAGERSTOWN, Md.. November {—When all human devices had failed {in checking the great meurtain fires which have been raging on either side ! of Hagerstown for two days, nature stepped in this morning in the form of a snowstorm and extinguished the blaze. Between 400 and 500 volunteer fire fighters had found themselves unable 10 cope With the fires because of the high winds, and they had burned over between 2,000 and 2,500 acres when | £ the snowstorm broke over the county IPeeling of deans of girls, who will carly today. An inch of snow fell dur- | e instrueted for teaching the new ing the storm and extinguished the | {OUTSe fires, which have defied the fighters — for two days. GIRLS TO STUDY SEXOLOGY. CHICAGO, November | will become part of the curriculum | for older girls in Chicago’s high schools, Peter A. Mortenson, superin- tendent, announced toc Arrange- ments will be made nest week for a Sexology By the Associated Press. WINCHESTER, Va.,, November ! Seven hundred men were waging a des- | perate battle today to bring under con- trol the forest fires which have been rag- | {ing for almost a week on Great North mountain, near here, and which al- ready have destroyed timber valued by | its owners at between $85,000 and $100.- | 000, The fires, thought to be under control early_yesterday, were lashed by 2 heavy wind and have laid waste, re- ports received here today stated, 12,000 | acres. Usually effective means of check- ing such fires have proved fruitless on | account of the heavy wind and the ex- | treme dryness of the forests. Many farm buildings and miles of fences have been destroyed by the flames, | which at one time last night Were within | 300 vards of the Rock Enon Springs Hotel, a summer resort. Timely shift- | ing of the wind, however, prevented de- truction of the hotel and nearby cottages. Office Space Velati Building Sth'and G Sts. 3 office rooms on 2nd floor corner, unusually prominent location for professional or insurance offices. Full details on request. SHANNON & LUCHS 713 14th St. Main 2345 Money tc Loan | Becured by first deed of trust on real estate. Prevailing interest and ymmission. Joseph L Weller %5, ety 3 | EQUITABLE Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Asnets .. $4,657,959.50 Surplus . $1,180,880.31 Systematic Saving A plan to make saving easy— Save a little each pay day and you will be surprised at the amount accumulated in a short time. 5 Four Fires in North Carolina. ASHEVILLE, N. C., November (By the Associated Press).—Four rious forest fires, three upon land: the national forest preserve, were ported raging unchecked In’ this sec tion of the state today, and it was estimated here that fully 3,000 acres ' had been burned over. Loss was| caused not only to standing and cut timber, but to sawmill and other lum- bering equipment. . Heavy winds and low humidity which prevailed last night and today rendered the work of fire fighting more difficult, but it was hoped that the flames would be checked before nightfall. i A force of around 500 men was bat- | tling the flames in the Pisgah forest preserve, at the headwaters of the Davidson river, and the Carr Lumber Company shut down operatiéns yes- terday and put its 200 workers to| fighting the fire, which had crossed ! the Pisgah ridge from the vicinity of Suncrest after burning out a lumber camp. The other fires were reported in McDowell county, one on Jarretts creek and the other at the headwa-| ters of Mills creek, and the former was sald to have reached the head of the creek and to be spreading. In Graham' county a lumber mill belonging to the A. T. Daisy Lumber Company, Wwas reported destroyed, with a loss estimated at $9,000. The {nsurance on the mill had lapsed last month, according to a report from Gibbard Smith, a forest warden. A trace of snow, the first of the season, fell here today, accompanied by a heavy wind and a temperature of 25 degrees. It was the coldest weather of the fall season. BAR SILVER PRICES. YORK, November 25.—For- ull:rlfvgnr silver, 64%; Mexican dol-] lars, 49%. ' LONDON, November 25—Bar silver, 327-16d per ounce. Money, 13 per cent. Discount rates. short and three- months bills, 2%a2% per cent. i ] 25 Subscriptions for the 84th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. President FRANK P. REESIDE, Seecy. Buy Guaranteed Second Trust Notes Yielding from 12 to 15%. These gilt-edge notes are secured on Distrcit real estats and backed by our combined capital and surplus of over $120.000.00. Issued in'de- sominations of $50.00 and upward. District Realty Investments’ Exchange, Inc. 834 New York Avenue W.W. Phese M. 3080 L | ‘ FINANCIAL » Bl North American Company and sub-| Negotiations looking to a consolida- tion of the United Retail Candy sidiaries for twelve months ending |Stores _and Lot Inc, have been October 31 show, after providing for | dropped, according to George W. Loft, tax and charges, a balance of $10,- | chairman of the board of directors 5 5 ! of the latter corporation. “All nego- 246,632 for depreciation, dividends | Of the latter corporation. “All negs. and surplus, against $6,287,583 the! ity of New York are off,” sald Mr same perfod previous year. Loft. MONEY Available in Any Amount for First Mortgage Loans Lowest Rates of Interest and Commission Prompt Transactions . THOMAS J. FISHER & CO., Inc. 738 15th St. N.W. The Things You Long To Do! Aren’t you tired of not doing the things you have always longed to do—just be- cause you haven’t money enough to make such attempts possible? If you had a small extra income, how simple it all would be! Make your savings earn for you the right to do the things you’ve longed to do. Begin to invest, even if it is only $100, in First Mortgage Notes on improved Washington real estate. Wise investment i3 the first step to- ward realizing your ambitions. And your banker will tell you that our First Mortgages are a wise investment for you. 53 Years Without Loss to an Investor. Swartzell RheemSHenseyC 727 152 Street NW. & National Mortgage and Investment Corporation Will Parchase First and Second Trust Notes Warehouse Receipts and Make Construction Loans On a Fair Basis 811 Vermont Avenue N.W. “Will My Money Be Safe?” Whatever investment you are thinking of buying, the question, “Will my money be safe?” should be uppermost in your mind. But why have any question about it. There is one form of security you know is safe—First Mortgage Real Estate Loans. _ Investigate our First Mortgage Loans before you invest—you incur no obligation. 6Y2% and 7% Interest Convenient Denominations Call or write fér complete information. WILLIAM S. PHILLIPS. Realtor Main 4600 1409 N. Y. Ave. ngety and Stability HE careful investor of today attaches more im- - portance to stability of principal than to in- come return. Those who had the experience of seeing their securities decline a few years ago should now realize that the surest way to get ahead is to keep principal intact and make certain of their regular interest payments. Investors who have had the satisfaction of proving our First Mortgages are convinced that they are now better off than if they had placed their money in fluctuating securities. Our First Mortgages are offered in amounts of $250.00 and up. “Over a Quarter of a Century Without a Loss” B. F. SAUL CO. MAIN 2100 1412 EYE ST. N.W.