Evening Star Newspaper, December 9, 1922, Page 19

F INANCIAL. THE EVENING STAR; WASHINGTO D. -C., SATURDAY, DECEMBER -9, 1922. - = FINANCIAL. BONDS LEADERSIN " LOCAL SECURMES Capital] Traction Shows . Strength—Farmers and Me- - HUSBAND DEATH PLOT N chanics’ Opening. BY L. A. FLEMING. | The usual Saturday dullness pre-| vailed on the local exchange today, with but light trading in compara- tively few securities and without real evidence of strength save in the shares of Capital Traction Company. The latter sold at 104% to 1047 with none offered under 105 at the close. ] Bond issues figured the day’'s tecord more or less conspicuously with sales at 97 for Capital Tractien 58, 73% for Railway 4s, 95% for Washington Gas 5s. and 100 for Poto- mac Electric General 63, The only stock sale other than in Capital Traction shares was a sale of American Security and Trust Com- pany stock at 28: Adds to Directory. The directors of the National Mort- ‘ sage and Investment Corporation at Their ‘ecember meeting completed | an enlargement of the beard from fifteen to twenty-two directors, and | declared the third semi-annual divi-( dend at the rate of § per cent per annum on the preferred stock of the corporation. The dividend is payvable January 1923, to stockholders of record on_and including December 31, 1922. The enlargement of the board adds | to the directorate the names of men ©f prominence in business and fi n—' i i in cial affairs of Baltimore and Rich- mond. The new director: Frank J. Caughy Howard T. Will and Oliver J. Sands. Bruce Bowe and 1. H. Harwood of Richmond. Va. New Bank Dedicated. The Warmers and Mechanics tional Bank held its formal “opening’ in its new building on the nurlhcafi] are: W. 0. Peirson and ms of Baltimore <omer of Wisconsi ue and street vesterday, all d: i After spending more than a century at the old location, one block eas:' of its new home. it was but natural ‘hat moving day should be made much | of Moreover, it was a source of great! satisfaction to the men who planned artl made the wonderful rev: bank bulld- ng a possibility. to exhibit to a sur- ised and satisfied clienteel: to the | d people of Georgetown. who were | impressed. and to the bunkers’ H shington. who called in large numbers, for not in all Washinston is there a bank building lke it i Spaciousness Is at once evidenced on ntering the foser. one of the largest n the city. Teilers’ cages, numerous offices for the cashier and | assistants, in direct contact with the fover, also the office of the president and the ladies’ waiting and rest | rooms. with larze accommodations for the working force. while the consul- tation and private office of M Haines. the president, all beautiful finished. give no suggestion of being pressed for room. The great vault. with its Jobby. | thirty-two feet long and eight feeti wide, entirely separate from thel hanking department, but still on the main floor. with coupon roems readily available. ample safety deposit box: for vears to come. and wonderfully srotected by latest devices against rampering from within or without, attracted much attention. Moreover. the devices are such it even checks up the officer duty to close and lock vault and will recall quickly he by chance should him neglect it. A\ great of the building will maintain a per- sistent clanging in the event of tam- nering with_the vault or in response ‘o the touch of the foot of any of- { the outside ! alarm beil on ficial or emplove. A commodious gallery surrounds the entire banking room. There are numerous consultation rooms and a nt room for the directors e vault. thirty-two feet longz, a wonderful big mahogany i with table. Then, too. there is space that may he needed as the years pass on and ‘he old bank in its new home passes on down the vears of its second cen- | ‘he officers and directors were at home. recciving congratulations from ! customers, friends and well wishers | a bower of 'mums and other gor- | seous flowers, in every direction, “hile the crowd resembled nothing} more than an_all-day jam, happy. 300d-natured—Georgetown at E There has not been such a ! ing_of bankers. their families and friends, such as greeted Harry V. Haynes and his associates since the! convention last June at Hot Springs. | SUSPECTSTILLIN AL Mrs. Ford's Defense Expected to Be Temporary Insanity or Lapse of Memory. By the Awsociated Press. i DETROIT, December ¢.—Friends of Mrs. May B. Ford, charged with plot- ting to slay her estranged husband.: Ney J. Ford, a wealthy farmer, re- newed their efforts today to obtain freedom for the prisoner. Mrs. Ford | spent last night in Jjail, unable toj aise the $25,000 bond required by the recorder’'s court, before which she pleaded not guilty yesterday. No_date had been set early today | for the examination demanded by Mrs. | Ford's attorneys. The defense of Mrs. Ford. should she be brought to trial. is expected 10 be based on her statement to the prosecutor that she was subject to intermittent loss of memory, or tem- porary insanity. She did not remem- ber, she declared. that she ever sought o ‘engage a gunman to slay her wealthy husband that she might gain nossession of the estate, as charged. If she did reveal such a plot to a de- tective who posed as a gunman, she sald, it was during one of these mental lapses. —_— CARDINAL IGLESIA DIES. Prelate Was Formerly Stationed at | Santiago, Cuba. By the Associated Press. SANTIAGO, Spain, December 9.— | cardinal Martin de Herrera y de la iglesia, Archbishop of Compostella for thirty-three years, died today. He was eighty-seven years of age. Be- fore his transfer to the archdiocese of Compostella he was for sevgral vears Archbishop of Santiago, Cuba. EX-PREMIER IN FAVOR. By the Associated Press. ‘WARSAW, December 8.—In extraord. inary session tomorrow the diet and senate will elect a new President of Po- iand. There are a number of candi- dates, but the general opinion growing out of meetings of the groups in both houses is that should former Premier Witos make further concessions to the nationalists in their demands for cabi- net posts, it is virtually certain he would be elected. | Wasbington Rer. & Electric 45—$1,000 at | A | Potomac Elec. Pow. g. BY WILLIAM F. HEFFERNAN. NEW YORK. December 9.—Higher Drices were geheral throughout to- day’s two hours’ session on the curb exchange, partly as the result of con- tinued short covering for the purpose of evening accounts for over the week end. New buying also made its ap- Dearance in several industrials. Al- though prices in the last hour slid off somewhat from their best. most stocks closed higher on the day. Stutz Motor Advances. Perhaps the most notewortliy inci- | dent was the sharp advance of two points in the shares of Stutz Motor in response to rumors recently circu- lated throughout the street that nego- tiations for u merger were under way | between this company and Studebaker Corporation. That these rumors were absolutely unfounded became known when the Studebaker president made | public the statement that no such negotiations were being considered. During the last hour Stutz dropped NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office. | International Petroteum | ard of Indiana. back, losing a good part of the early gain. Other motor shares held firm, wtih the exception of Durant common, which ramained the active leader, ad- vanciog in the first hour, wit' a sub- sequent reaction. Goodyear Tire co- nion held its gain of the previous day, and Intercontinental Rubber rose fractionally, reflecting cxpectations of higher prices in tire and rubber goods. Standard Olis Higher. Standard Ofls and independents | were higher, for the most part, with activity centering in such stocks as and Stand- Reports that a law suit had been filed _against Mammoth Ofl and Pionecr Oll and Retining had no effect whatever upon Mammoth Oil shares and this stock was active and higher. Simms Petroleum was another that was In demand and reached a new high for the present movement. Cities Service common and New England Fuel Ol were ugain weak. Independence Lead and Ohlo Copper were the lcaders in the mining group with the latter reaching 50 for the first time in weeks. NEW YORK. December 9.—Fol-| lowing is a list of today's highest, lowest and closing prices for the 1nost | active bonds and stocks dealt in on the New York rb Market: Sales in BONDS. thousands. High 1 Alled Packers 6s . 2 Allied Packer: Am Rep 65 & Anaconda Avacondu Anglo-Am Ol 7L} 11 Armour & (o 7s. AUG & WIS 8 Beth Steel 3 Beth Steel 7~ '35 (5 E Copper E: Cudahy 5s . = Detroft Uity 4 Detroit Ediso 8 Gair, Robt, 79 ulf Oil 7 2 Hood Rubber 7s . 11 Inter R T 8s cfs of d 1Kan G &E 65 4 Kan Cits Pow Lt 53 17 Laclede Gas 73 1 Phillip Pet 7 & Pub Serv of Afr & CoSn .ol 5 United 0il Prod 10 Un Ry of Hay il 3 Vacuum Oil Ts . FOREIGN BONDS. rzentina §8 King of Nether Costmental Oil . 110 Crescent P L Fureka P L ... 10 Tmp 01 of Canada. 2200 Inter Pet Co Ltd. 40 Magnol 00 8§ O Indiaua .. 100 S O Kanwis new. . 100 S 0 Kansas B 300 § 0 Kentucks new. 127 1100 8§ O N J new 4 200 8 0NV pew] 100 S 0 Ohin pfd 20 Vacoum O3l . 1000 Vacunm Oil ne Suies INDEPENDENT OIL STOCKS. in hundreds. 180 Allied 0 110 Allied Uil new 10 Roone 2 Rostou Wyo 0l Carib Synd Cit Serv . it Kery pfd. it Serv BB ptd. ... Creole Synd Darby Pete Eogineers” Pet Federal 011 fllilaad Of ] len Rock Oif udson 0 Kesstone | Kirby Pet Lowry 01 - Latin Amer Oil. Livingston Pe Mammoth Oil Marland .. Maracaibo il 2 Margay Ofl . 3 Merritt 01 ez F 1 0 Washington Stock Exchange Capital Traction Secdi,000 at 93 i AFTER CALL. £500 at 73! Washington Gan 53—$1.000 st 831, $1.000 Elec. 00. . $300 at 957, 6s—3$1,000 at 100, m BONDS. | at Potomac & m $1,000 ). o Security and Trust Co.—10 at 282, Capital Traction—10 at 10475, 3 at 104%. Bid and Asked Prices. PUBLIC UTILITY. [ Bid. asked. Amer 1ol & Telga. 4x. ot o1 | Amer. T2l & Telga. 41, 1003, 102 1 Am. Tel. & Tel. ctl. tr. 5s. Am. Tel. & Tel. conv. 6s. pacostia and Potomac Bs. Anacostia Pot. Guar. os. C. & P. Telophone & & P. Telephone of Va. 5a. Traction R. R. b City and_Suburban Bs.. Georgetown Gas 1st bs Metropolitan K. R. Gs Potomac Electric Ist Potomac Electric cons 5s. Potomac Elec. deb. 6s. 8388285222 22885 % W - | 1 Pot. Elec. Pow. g. m, & ref Wash., Alex. & Mt. Vernoo bs. Wash., Alex. & Mt. Vernon cfs. 22 2 Wash.. Balt. & Annap. 8y 1% Washington ‘Gas 5 951, Washing 1085, 3% L MISCELLANEOUS. D. C. Paper Mfz. 6s. 80 Riggs Realty o8 (long).. 3 Riggs Realty Bs (short). 98 - Security Storage & Safe Dep. 68 95 rket Cold Storage 0s. 98 Park Hotel €s....... 100 i0ii§ STOCKS. PUBLIC UTILITY. . & Elec. com. Rwy. & Elec. ptd. Terminal Taxi com. Terminal Taxi pfd NATION Capital Columbia Commerclal District armers ‘ederal-Awerican Liberty . Ligeoln National Metropolitan. Riggs. Second ‘Washington American Security and Trust.. 282 I85 Continental _ Deust 90 95 Nationa] Savings and Trusi..... 206 320 Tnion Trust. S0 16 Wash. Loan ane Trust. 310 325 SAVINGS . BANK. Commerce and Savings. - 180 East Washiugt L1 Securlty Savings and Com... .. 225 Seventh Stree! T United States. 260 Washington - Mec! American U Firemen's Fire insurance. . 111 18 Natiooal Unlon... T 8 TITLE INSURANCE. 95 Mex 0il ... B0 [ Omar 0il Pennock 0il . Iiyan Cons Salt Ck pew Sapulpa Refin Seahoard Oil Bhell Union 0l w 1. Simms Pet Southern P’ & 15 Sou States Oi 140 Texon Ofl & Wilcox 0l & G 160 Y 0l . 1 37 28 »m 10 INDUSTRIALS. 26 Acme Coal 10 Acme : 1 Amal Leather 1 1 Am Gas & Elec pfd 185, 1Am Hawatian § 8 167 Arnold Conn o w i Brit-Am Tob Co reg 2014 B'kisn City RR 8 Buddy Buds . 13 = 1DL&W Coal . Dubilier ¢ & Radio. Durant Motor .. Durant Mot of ind. dllette '8 R. 3 Hudson Co pfd. 3 Inter Contl Rubb 4 Lake Superior C 1 Lupton M May Dept Stors 20 Mercer Motor 4 Mercer Mot vot cfs. & Mesabt Tron . 1% New Fictlon Pub N Y Tele Co pfd. Patten Trpewriter. Philip Morris .. Prima_Radio Co. 3 Pyrene Mfg Kudlo vorp ... 1 Radio Corp ptd. 3 Repetti Cands S Standard Copra 3080 C &1 1 Standard G & E. Standard Motor tutx Motor . Technical Prod Tobareo Prod Hxpts Tnited Prof &h new S Lt & Heut - Lt & HU ped. Distrib 5. ne Coal | diers” Motor ale & Towne ne MINT I Yellow Cab Nz B 100 Belcher Divides . Blackhawk Cons Felcher Extens it 2 * 40 Big Ledge ... 4 iold Rinon Bos & Mon Calaverus Canarlo (o Candelariu i Columbia Emeral ‘antineqral 5 ) N ™ Mines. | 16 s Cortes_ Silver . 1 1 Cresson Gold 2, 1 Davis Daly . 15 Dear Cons ; 10 Dia Fleld BI Butter . 10 Dryden Gold 50 Eureka Croes: 171 Fortuna Miny 1 Gadsden Cop 340 Goldfield Deep i 30 Goldfleld Florence. 20 Hardshell Min 10 Hill Top Neva 12 Howe Sound 140 Independence Lead. 10 Iron Blossom 1 Jerome Devel. Kerr Lake 3 ow Cornelia 111 ew Duminion Cop. 90 Richmond Copper . 10 Ruby Rand Mines.. . andstorni Kendall, | Kiiver Mines of Am. a8 0 Simon Stlver 31 50 Npearhesd Gold | ‘o 10 Temiskaning s i ifor burial. j efectively {HARDING MESSAGE PLEASES TRADERS Week in Stock Market Shows Very Irregular Trend in Prices. By the Associated Press. NEW YORK, December 5.—The struggle for control between opposing speculative forces imparted a decided- ly irregular trend to prices in this week's stock market. Gains of the first few days were substantially re- duced or wiped out in the midweek reaction, but a further recovery set in Friday afternoon. Industrials con- tinued to offer much better resist- ce than ralls. Intermittent weakness of railroad shures was caused by several factors, not the least important of which was the unloading by pools which had be- come discouraged by the lack of pub- lic Interest In those issues. Selling for taxation purposes; unconfirmed ru- mors regarding possible reduction of present dividends. against Great preferred, and higher fuel prices also were factors. Mexsage Big Factor. President Harding's message to Congress, approving d mergers and the pooling ol ent, was favorably rece; in ancial community. Carloadings for the week ended November 25 totalad 955,495 cars, which was described as au un- precedented number for that svason of the year. The final summary of rail- rogd earnings for 192 class 1 roads showed net operating income of §85.234.000. which represents a re- turn on an annual basis of 4.05 per cent on tentative property valuation. The industrial outlook continues to be encouraging. Pig Iron production, which Is regurded in some quarters as barometric of industrial conditions, totaled 2.649.703 tons in November, the largest of any single month since November, 1920. Resumption of divi- dends by the Kennecott Copper Com- pany testified to the fmprovement in that industry, present copper prices being around 14 cents a pound, with steady appreciation in the Luropean demand. Sugar Stocks Improve. The improvement in dustry was reflected by the Cuba Cane Comp: 0. the sugar in- the report of ¢ for the year ich showed a . us against a profit of . loss of $9 Declaration of a 25 per cent stock dividend by the directors of the Studebaker Corporation, with the ad- 1, | ditional comment that present earn- £ ings and future prospects indicated a continuance of the $10 dividend rate on both the old and new stock. mir- rored the splendid condition of the automobile industry, which has jus had the best year in its history. Hud- son and Hupp motor stocks each es- tablished new high records for the vear during the week. R New Exchange Records. New high records for the vear were :ade in the foreign exchange market demand steriing. which touched .571s, or within 30 cents of parity: Dutch guilders at 30.97 cents and In- dian rupees at 30.35 cents, The Ital- quoted above 5 cents for June 15 Canadian change went to a slight discount after holding around par for a week. The gigantic weekly increase of 000,000 marks in German note ation had no effect on which were still quoted around cent a _hundred. French franes got 7 cents again despite another increase of 269.911.000 in note circu- 1y lation and 300,000,000 in government | Lorrowings. Business in the time money and commercial paper mackets was quigk, with no change in rates. *1COL. O'CONNOR, RETIRED, DIES AT ATLANTA, GA. Body of Army Veteran Will Be Brought Here for Burial in Ar- lington Cemetery Tomorrow. Word has been received here of the death Wednesday at Atlanta, Ga., of Col. Charles M. O'Connor. U. §. A., re- tired. Funeral services are being held at the home in Atlanta. following which the body will be brought here Interment is to be at 9:30 o'clock tomorrow morning at Arling- ton national cemetery with full mi tary honors. ol. O'Connor was graduated from West Point in 1873. He served in In- dian_campaigns, the war with Spain, the Philippine outbreak. on the Mex- ican border and in the world war. He retired in 1915. but was recalled dur- ing the world war, and served at Gog- ernors Island. He saw forty-six years' service. L e e 31,1 He is survived by his wife, Mrs. Sal- & Tonopah Divide liie E. O'Connor: two sons, Maj. C. M. _8 Tonopah Extens 3% | 0'Connor, jr., Fort Sheridan, 111, and 22 Tuolumae -62 IMaj. Edwin O'Connor. Atlanta, Ga. 14 United Eastern . 10 U8 Continental. 1 Cnity Gold . 18 West End Consol 40 West End Cons ex 10 Yukon G BLL AGTIN URGED Federal Bar Association Head Asks Enactment Before Con- gress Quits. In u letter to Senator Wadsworth, support of the Federal Bar Associa- tion of the Sterling-Lehlbach' reclas- sification bill is pointed out by Wil- liam R. Vallance of the State Depart- ment, president of the association. Mr. Vallance declared that the mat- ter of taking appropriate steps to emphasize the importance of this leg- islation and the desifability of pass- ing it at the present session of Con- gress has been considered by the ex- ecutive committee of the association. He then instanced provisions of the 1920 republican party platform and resolution adopted by the Federal Bar Association, June 5, 1922, The latter stated that “the immediate reclas- sification of the civil service is im- perati and that to accomplish this pproval should at once be given the Sterling-Lehlbach bill in its present form without amendment at this time.” Mr. Vallance, in his letter, declared that the replies received to this reso- lution “were favorable with the ex- ception of a communication received from Senator Smoot. in which the sen- ator indicated that he desired to have the legislation materially changed, and under the bill which appears to have his approval the supervision of reclassification would be placed under the jurisdiction of the bureau of ef- ficlency instead of under the jurisdic- tion of the Civil Service Commission.” “As the extensive work that has already been done at this session of Congress will not serve any useful purpose in case the legislation is not enacted at this session,” the letter continued, “I venture to express the hope that you will not only give the legislation your support, but will urge other senators to carry out the pledge contained in the party platform.” —_— The first zinc made in the United States was from the red oxide of New Tersey, at the arsenal in Washington, D. C, in 1838, [HITS and three daughters, Mrs. J. J. Bur- leigh, wife of Maj. Burleigh qf this city; Mrs. C. Y. Brownlee of Atlant and Miss Marion O'Connor of Atlanta. NEW CONSTITUTION. Gov. Small Urges Cltizens to De- feat Proposed Basic Laws. SPRINGFIELD, Ill, December 9.— Charging that the proposed new con- stitution has been *so cunningly pre- pared that the controlling direction of governmental agencies by power- ful corporate interests will be as- sured for years to come,” Gov. Len Small today urged voters of Illinois- o “rise in their might” and defeat it. The governor attacked especially the revenue sections of the proposed basic laws, which he declared are so framed as to relisve and favor the very rich and impose unequal, burden- some taxation upon the poor man. the wage-earner and the person of moderate means.” DRIVEN ON REEF BY STORM. By the Associated Pre PARIS, December 9.—Fleeing from the violent tempest sweeping the Medfterranean coast of Spain the French mail boat Governor General Tirman has struck on reefs at the entrance to the harbor of Port Ven- dres, nineteen miles southeast of Per- pignan, where it was seeking refuge. The passengers were put ashore aftar much difficulty, but the vessel proba- bly will be lost. The mail boat was coming from Algiers. This is one of many wrecks during the present storm which has worked havoc among Spanish sailing and fishing vessels. 811 Vermont which were used | Northern | marks, | National Mortgage and Investment Corporation Will Parchase : First and Second Trust Notes Warehouse Receipts and Make Construction Loans On a’ Fair Basis SECRETARY MELLON'S REPORT i IS INSPIRING TO BUSINESS|| You Need Not “Watch the Markets” ; ; When You Invest in Our | |Vu':ws on Credit and Trade Conditions First Mortgage : Over Coun_'try Carry Grcat Weight THL’ value is not going to !]u:mate—_your mnvest- ’ © Weekly Financial Outlook! || choy™bis S higmaly ™ 0 | | BY STUART P. WEST. |and a speeding up of production sen—: Your income is p:—rmanent and is promptly paid. ; :’(-e!:_ . ‘Ifup;vtg;;:("l‘he‘;::mber 9_—‘““; e e il In amounts of $250 and up. | street is still divided in opinion as to whether the rise iy the stock marz {ket during the past week is merely ia recovery from the severe break In October and November, or whether it 18 a fresh advance. One thing is certain, and that is that the rebound is logical and Jjustified by reason of the' fact that the preceding decline was unwarranted by general business l4nd financial conditions. Railroad Stocks Lag Behind. | Railway securities have not felt| anything like the impulse toward im- provement that other sections of the market have experienced. The rea- son lies readily at hand. The in- vesting public is constantly being ireminded that there is a serious state | {of affairs in gie railway world., There 118 00 question of bankruptcy or even a reduction in dividends. But the ;roads, as chown in the October fig- ures. have been called upon to spend ja lot more money than usual of i maintenance of plant and equipment. The suggestion that these expen- ditures will continue for an indefinite length of time Is strengthened by the statement frequently made before and repcateq this week by the Sec- retary of the Treasury in his annual message that the transportation facil- itles of the country have not kept up to the needs of business and that this is the main reason why prices are low on the farms and high at the distributing centers. Remedial Legislatfon Remote. President Harding in his message. recommended encouragement of rail- way combinations and the pooling of freight cars as partial solutions of the problem. Unfortunately there is little or no chance of any remedial legislation at the present session of t'ongress, and at the next sesslon the balance of power, if not the actual control, will rest in the hands of the radical bloc, which is committed to a program of rate reduction, regardless of what this would entall for the financial position of the railroads. In the end any downward revision of freight rates which threatened to bring earnings below a fair return on capltal invested probably would not stand in the courts. But the aver- age investor. seelng all this agita- tion ahead and recognizing that op- erating expenses for months to come | will be under the influence of abnor- mally high maintenance charges. is not inclined to increase, even though he is not reducing. his holdings of rail securities. Mellon's Iteport Bull Factor. Secretary Mellon's reference 1o busi- { ness conditions was an inspiring con- tribution to the markets of the week. While there was nothing in his sum- | mary of the changes of the last| twelve months .which was not alreacy | familiar (o business men, coming from the T-easury head, it carried much weight. The Secretary dil not hesitate to say that while credit and trade con- ditions had proved o deciidedly at home, progress had aiso heen made | along the line of reconsiruction in BEurope. This is not in accord with the predictions of some so-called economists who have been telling the | Sorta for the pust twoyears that Ens i rope is on the verge of ruin. But it is the common sense view of a sound thinking business man in the best possible position to know the facts. British Italian Finances. The two most striking incidents of the week bearing upon foreign af- fairs were the continued advance in sterling _exchange, and the rise in Ttallan lira. The pound sterling is sow back over four-fifths of the sround lost during the war and post- war periods, and within less than 30 cents of the normal parity with the dollar. p The recovery in Italian finances is nowhere near as far advanced. Still the lira within less than a month ard a half has gone flom a valuation of 33 cerits to where it is now worth ! over 5 cents, and there is no doubt that this is a fair measure of the op- timism in Italian commercial circles regarding the new govermment. and | the out look for successful carrying | out of its fiseal program. 0 This program calls for a scaling! down of government expenditures. a, more equitable distribution of taxes| | Safe Deposit Vaults | We have several H large privatce vaults, 24V4x39 x21%4 for rent. I Safe Deposit Department | Federal-American National 1315 F Street EQUITABLE Co-Operative Building Association Organised 1579 434 YEAR COMPLETED $4,657,869.50 $1,1580,880.31 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. i Subscriptions for the 84th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. President FRANK P. REESIDE, Seey. Avenue N.W. (bilize the mark—the German public Another striking feature in the for- eign situation is the way the German mark for nearly a month has been virtually stationary, despite the further prodigious increase of nearly 300 billions in the outstanding paper issue and the prospect by the first of the year the trillion level will have been reached. It is hard to account for this by any of the known facts, but it is clear that for some reason—whether it is confidence in the new ministry and the belief that it will succeed in working out Germany's desperate financial problems, or whether it is that some positive measures have been secretly inaugurated to sta- “Over a Quarter of a Century Without a Loss™ B. F. SAUL CO. MAIN 2100. 1412 EY ST NME has got over its panic and has ceased to throw over its holding of the paper currency in exchange for securities and foreign moneys. _ 1t is quite possible that in the end it will be found that plans for deal- ing with the financial crisis are much further along than people have beefi led to believe by anything that has been allowed to escape into the news dispatches. MONEY TO LOAN ON FIRST MORTGAGES COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY AT CURRENT RATES OF INTEREST SAN FRANCISCO, December 9.— Tron and steel today are showing in- creased demand in this section owing to greater activity in the shipyards and the steady gain in bullding operations. More men are being put to work in the steel mills. NEW ORLEANS, December 9.— Sales of shoes have fallen off in this| territory this week. This is attribut- ed 1o the slowness with which win- ter clothing is moving in the country districts. BOSTON. December 9.—Retail dry- goods trade today fs running ahead of that of the last three vears in Bos- ton. but is slightly under that of 1920 and 1921 in other New England cittes. FORT WORTH, December 9.—The condition of cattle ranges in the southwest is good todar and only forced males are being made by stock Randelt K Hagner & C. 1207 aluwc&cal @kau { How Modern Are You? men. "Those ranchmen who are not Are you modern and progressive eing pressed to pay old lebts are = holding their herds, hoping for better enough to know that it is considered a prices next spring. disgrace to be a spendthrift? There is nothing picturesque in wasting one’s money—only foolishness and lack of character. The modern man saves his extra dollars. invests them, reinvests the interest and further savings, and is ulti- mately 2 man of position and stability. Our First Mortgage Notes on improved Washington real ‘estate is a safe invest- ment for hard-earned savings. Unfluc- tuating, exceptionally safeguarded, gen- erous interest unfailingly paid. The notes are in convenient denominations. PHILADELPHIA. December 9. — There have been heavy sales of fo- bacco and cigars to retailers this| month in anticipation of holiday de- | mand. Tocal business in leaf and! filler tobaccos has been extremely good. Large local factories have taken 60 per cent of this vear’s Penn- sylvania crop at prices ranging from 5 to 22 cents a pound. ! DETROIT. December 8 —The Bur- roughs Adding Machine Company to- 5o far behind on delivery of its listing machines that the com- pany has discontinued advertizing ti'a | specifalty, and only the larger dealers are receiving any machines at all, ATLANTA. December 9.—Spinning interests in this section are increasing the cavacity of thelr plants and today are reporting splendid earning state- ments for the latter part of 1922, AKRON. December 9.—It is esti- mated here today that the Goodyear Tire and Rubber Company sales for this year will total between $115,000,- | 000 and $120.000.000. —_——— Let us be thankful that Adam when he named the animals, was un- , influenced by the man who names Pullman cars—Fort Smith Times- | Record. Money to Loan Secursd by Srst deed of trast Frevaiiiog. 1aterest sad commissions Joseph L. Weller 53 Years Wthout Less te an Invester Swartzell Rhcem&Hensey 727 152 Street NW, s Good Business to Make Your Will ATURALLY. wisely. vour thoughts turn toward making your daily work successful. Let’s look bevond the day’s work. What object have vou in view? To be prosperous> Of caurse, but that’s not all. i To make your family happy, not only now, but always, no mat- ter what happens to you. Isn’t that the big thought behind your day’s work: It is, you say? Well. then. what have you done to make it come true? Have you made a will, and ap pointed an experienced, permanent executor? It's good business to make money. It's better business to see that it's well taken care of. Think it over. Ewery Banking Serzice COMMERCIAL 3% -o_\' SAVINGS TRUST 15th and Penna. Ave. Capital and Surplus, $5,400,000.00 HOME SAVINGS BRANCHES 436 7l St. SWS 7th-and Mass. Ave. 8th and H Sts. N.E.