Evening Star Newspaper, December 13, 1922, Page 29

FINANCIAL. UNION TRUST GIVES JANEXTRA DIVIDEND Received by Private Wire HEFFERNAN. . December 13.—Mining 4 leadership in today's me | ng on th tr; e curb exchange. Se \ - . eral of he low-priced coppers con- Will Pay Out $20.003 ChFist- | (i’ i demant throvehont the Art of the session, reflecting mas Present to Share- (ib L0 Tplite crie: i (00 and domestic c activity In other the increase. | helders. velterda v mecting a ther Christmas present o Christ This i the Thy nix Irregular. sharehe 5 n other s movements - irregular, spartment sections ent divide and during the cent dividend is payable in Jan- two payments vietmadly put x the stock of the Unio ust Coie Y rannce) I Py an s per cent b and ex- e plai o rea cent s vanee in the arcund 118 o 14 NEW CHlowing of Flowest v of and closing pr and stocks d: K Curb Market: BONDR n s heen very n bringing mort money 1o Washingron at MO IgaKe MOneY Was not tamable Joha H. Wilkin £ John H declared iend on preferred shares. o sharehold Another ow. 3 he the raphophone Story. & Co. of New ¥ susibility for t S Am O Tolos | FitH " 011 STOCRS Sales INT in hundreds, 10 Allied 01l new L on : o3 i B Insese o K | res brought % 17, | raction 180 174 :Washington Stock Exchange funds | SALES. i~ 4105 capiral ) At Wiia t re-! Waxl om0 at i ir urs- | 10 at Thurs- | 10 et | Cash in on Victory 4 3-4s. 3 tirent Bankers' Assoc ? ing the cashing of the v Bid and Asked Prices. i ha been called {nr' ! ember 15, Holders of PUBLIC TUTILITY. » informed that thev | ymer. interest on the date Awmer, yment of T nts will | d. and that the emple procecds in other i furthered by immed mption assaci in their hom by hedde os. (o w i Wardinan SHOW FIM TRED Extra Heavy Buying Wave De-; velops in Market in New Orleans. Paper Mfg. Realty (she & Safe Dep. et Cold Storage 5%.. k 6 96 100 ket at the opening today. There was ange in comment on ay’s goVernment crop report. atively easy and et here opened at a decl under lguidation and December w Liberts s re TRUST COMPANY, ty and Trust. st partly the which to sterling, id, art iling at 1l January contracts her or a point above yes- ki Kevent! Tuited States | v Ktreet. 7: May, | Washington Mechanics. e %0 23.55; June, a ..~ FIRE INSURANCE. NEW ORLEANS, December 13.— | Areieen = The strongest buying wave In some time developed tc with traders of all classes buying and only a limited supply of contracts coming on the market. Much of the buying was stimulated by the movement for the half weck at the thirteen counted in- tarior towns. receipts at these points amounting to 63,544 bales, while ship- ments were 81,575, In the trading up to noon prices were sent 46 to 50 points higher than the close of \yes- .28 for January. 25.23; Januar. March, 25.36 asked; May, 25. 2500, Steady, remen’s Natfonal Union! Columbia Real Estate. Columbia Graphophone com. Columbia_Graphophone pfd. D. . Paper pfd... by ans. & 014 Dutch Market ptd. Lanston Monotype. | ome THE EVENING STAR, WASHINGTON, n NESDAY, 5 29 NEW YORK CURB MARKET Direct to The Star Office. The feature in the market general- 1y was the renewed buying at new high levels in several of the recent leaders in the motor group. Both Durant common and Durant of 1 diuna reached new high records, while Continental Motors also came in for considerable attention when it went through 11, a new top price for the present movement, Peerless Truck and Motor gained 2 points above ‘its last previous sale earlier in the wee Current Hayes Wheel Company is negotla ing to merze with another large man- ufacturer of automotive wheels failed to attract a following in the shares of Hayes Wheel. and this stock was practically neglected i Oll Shares Rather Qulet. Oil shares were comparatively quiet ! akuin with price changes, except in one or (wo instances, unimportant. Standurd of Indiana was slightly higher most of the time, while Nli- nois Pipe Line lost over 4 points at time. #New England Fuel 0il axain lacked support and was lower. Cities Service common advanced al- most 10 points in the early trading. subsequently reacting, but these shures closed substantially above the final quotations of Tues land and Shell Union we Sery ptd S fx a0 apnipa Retin H Avme conl . Atum Mfe pfd 2 Amui Leainr Am Hawa Rerit-Am . onp pr romes s Motars o cago Nipple ... lund Motor . M 1e1s 1w il URubter 3 Bt TS pr 1081 ey En 10 ] 1014 o 1 Tar pr < Motor . MINT T Calaveras Copper Copper i 10 03 Emma 10 Eureka o 10 Florence .. 30 @ Fortuna Mines a8 acsden Cop .. a0 2 Goldfield Deep M 110 Goldfield Floren 80 Hardshell Min 2 Hollinger 3 B 4 3 of an 15 ¥ k Hughes Tono Belmont 12 Tonopah Divide 29 Tonopah Exten 10 Tono Jim Butle Tnited Eastern 20 West U 1 Yukon Gold —_— OIL HEARINGS NEAR END. Secretary Fall Will Soon An- nounce Awards. Conferences between Secretary Fall of the Interior Department and bid- ders on the royalty oils aceruing to the government in the Salt Creek C .) and Cat Creek (Mont.) fields have progressed to a point where it is probable an award will be an- nounced before the end of the week. Secretary Fall Had given the bid- ders until December 12 to appear for conferences with him, but at the re- quest of several bidders the time was extended. $100,000 PAID FOR SEAT. Lowest Price on Exchange During Year Was $86,000. . NEW YORK. December 13.—Of seventy-two seais on the New York Stock ' Exchange sold to date this year, the highest priced was $100,000 and the lowest $86,000, officials of the exchange disclose. Fifty-seven of the seats brought a total of $3,374.000, the remaining fifteen having been nominal transfers. —_—— CLOTH PRICES FIRMER. NEW YORK, December 13 (Special). —The market for cotton cloths mani- fested a better tone today, both in the prices which prevailed and in volume of business. Advances were not of great extent, but there was a lack of inclination, even at second hands, to make concessions. Orders were placed in excellent volume for tandard t cloth structions, some ¢ them for dalivery woll 18C0 THG Some ngyean, SR T reports that ; SHOTS VOLLEYED AS AUTES RACE Police Capture Auto, Whisky and Weapons After Thrill- ing Night Chase. In two specding automobiles. police and alleged rum runners staged a pistol and rifle battle on Rhode Island avenue shortly after midnight th's morning. After whizzing over quiet stretches of the road from the Dis- trict line to 12th street northeast. to the accompaniment of volleys of shots, the police arrested Pomeroy Brown. twenty-eight, of 12 Q street, elght. of 1756 T street, on' charges of fllegal possession of liquor. A revolver. u ropeating rifle, a h: gallon of liquor. & quantity of minuu nition and the automoblle of th prisoners were confiscated when th: police party. consisting of Lieur Davis, Sergt. McQuade, Private Buu; and Revenus Agent Fowler. finully made the arrest. Capture i Dramatic. The capture was as dramatic an if chase. Ax the two automoviles spod aide by side on Rhode Island awvenu, ice car running Agent Fo & leap to the runnin fugitive machine and fos jeperator to stop, In the wake of the Automobiles was f e lstrewn whisky and wmmunition {thrown from their machine by I I fugitives when thev saw capture ut 200 rounds of am initton was picked up on th but the whisky was lost I the break! The capt lieve, ired automob| was the convoy Hliguor-laden mschine that, - covery of the police t the District lite, ran back into Maryland Men Held Under Bond. The case came up in Police Conrt & morning. Each of the men was held under $1.600 bond for the grand Jury on charges of carrying concealed weapons, and under $1.500 bond for i possession of liquor. | Then irony of fate stepped in and played a mean Joke on the prisoners After the hond lad been fixed and It was assumed case would breame la grand Jury issue a charge of weat- tering broken glass in the roadway Was placed ugainst them. And the court added a $40 fine for thi Several shots Struck th the police stated, one puncturing gas tank 1o COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ATLANTA, spinniag December ws is not favorable 13.—British and ten teriala, over their rush Lut the « that the upplicd and the they will he forced into the cotte |_ramm early 'goads now Deceniter in the cot carpet mills o, today, but yarn wants covered until after the turn of the year. Underwear manu wrers are taking yns for spring for raw SVELAND, December equipment today Is being | the plant of the Industrial Fiber Comi- 1akers of viscose silk. whi days will give the factory 147 4" i production of 4.500 pounds of silk a | cmber 12.—Export timber continues day. The plant is running day and night and has not heen idle a day since it was reorganized a vear ago. PORTLAND, Ore. December 13— There is a general scramble today all lover the Pacific coast for cranberries. Northwest stocks are practically ex- hausted and only limited stocks of ieustorn berries are available. HOU B demand for he lunabated today wnd @ 10 per cent increuse in prices in jthe last two weeks. Demand for ratlroad timbers and car material also {is heuvy I PITTSBURGH. December 13- (‘on- ditions today in the glass industry lare good with prospects bright. Iali- ing off in window glass buying is less than usual at this season. Demand for plite glass continues above sup- ply. 'In all lines of the industry the market is strong. G SAN FRANCISCO, December 13.— The movement of 'the new orange crop is slow owing to weather con- ditions and light demand. Lemons have dropped heavily in price with evidences of a still further decrease in prospect today. BOSTON, December 13.—The decline in the price of hides has had no ef- fect on the leather market here. Tan ners, however, stated today that the lower hide market now permitted them to operate at a profit. SEATTLE, December 13. — Lard, bacon, ham and pork are eas ng in price in this market. There was an oversupply of grain-fed turkevs at Thanksgiving, when prices slumped from 55 to 40 cents a pound. Indi tions today were that Christmas birds would sell at about 45 cents. PITTSBURGH, December 13.—The Carnegie Steel 'Company, which has announced a first quarter price of $36.50 on sheet bars, makes this price to the American Sheet and Tin Plate Company, both United States Steel subsidiaries and the independents with which it has regular contracts, The company seldom has bars for sale in the open market. In the 1922 first quarter bars sold at $29. Attractive orders command concessions from the $2 quoted on bars, plates and shapes in this market. YOUNGSTOWN, Ohio, December 13. In the Mahoning and Shenango val- leys. including the Youngstown dis- Victory Bonds Ityou hold any of the Victory Notes called for redemption December 15th, bring them the ™ huls."f:'.e.n‘ oc F rial 1414-1416 BYE ST,N.W. Firss Mortgage Investments and Jumes Pritehett, colored. twenty- | D. C, | i i 1 i i i | | | i 2525e52525252525252525250525252 i i there has been || i | | ! i | WED. .I)E('EMBER 13, FINANCIAL. - 1922, trict, thirty-two of the forty-sever | shipments will be necessary to mecet blast furndces are in operation today. [ demand. $5,000 Life Policy, $43.85 ! Age 3. Bend du | Bt blined 10 Masots vic aastration. | Money Loan- to R 2 5 L . ",.'";._“.“J,'mv O revalieg. 1oterenr 25T soue “t by winter Room 610." Wocaward Buitdios” . 0. Joseph L Weller 3 FOR SALE & ave not heen more U per cent of normal, and he . 1933 4th St. N.E. 6 ROOMS AND BATH Hot-Water Heat, Electric Lights Price, $5,750 J. LEO KOLB 923 N. ¥, AVE. N.W. 1237 WIBCONSIN AVE. PHONE MAIN 50 Service—In Addition to Safety HEN you purchase one of our First Mortgages you ‘ ‘ know that your funds are absslutely safe and that the interest will be reccived by you promptly when due. Will Finance Companies expansion will he wale of their I nathe unin o Only 1 1 entire campanies mate or more need apyiy W. Lotti Company In addition you have the satisfaction of kn ing that all matters perta ining to the collection and remittance of interest. that taxes and special assessments are paid, and the repayment of principal to you when same is duc—all with out cost to you. © Fuite 903-6 Brokaw 1457 Broadway, Y. EQUITABLE Co-Operative Building Association Orxanized 1879 43d YEAR COMPLLETED . .$1,637.950.50 56031 EFORE any se- curity is sold, the possibilities offered by exchange in accord- ance withtheRevenue Actof 1921 should be carefully considered. In amounts of £230 “Over a Quarter of a Century Without a Loss™ B. F. SAUL CO. MAIN 2100, Assetn Sarplu: Systematic Saving A plan to make sa:ing easy— Save a little cach pay day and you will be surprised at the amount accumulated in a short time. 1312 1N ST NS Qur circular just published discussing this matter with great thoroughness will be mailed on request. Subacriptionn for the 84th Issue of Stock Being Recetvea Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JORYN JOY EDSON. Prexi FRAVK P. REESID) Out of the Large Number of People Who Know How to Save, Few Know How to Invest FIRST TRUST NOTES as issued by us, will be found to be a safe and - GRAHAM. PARSONS % Co PHILADELPHIA NEW YORK WAasHINGTON 4GS Hisss BLDG. Main 2655 arnt ecy. Telephon 55252525252 5252525252525252525252525carachehgndbdheynhdSeseseseses NEW ISSUES U.S. Treasury Certificates ard Notes Dated December 15, 1922 sure method for the inexperienced investor. Consult Our Loan Department SHANNON - & LUCHS 25252525 252525252525251 Series TM-2 1923 31,70 Certificates, Due Mar. 15, 3 Series TD 1923 4. . Certificates, Due Dec. 15, 1923 713 14th Street Series 1925 4157 Notes, Due June 15, 1925 Price 100 and Interest Subscriptions to the above mentioned issues will be handled by us without charge | | FIRST MORTGAGE NOTES Qj Interest Stops December 15, 1922, on { o i 5 U. S. Victory 434% Notes = Series A-F inclusive H IN DENOMINATIONS OF Se52525e5e525252 SAseseahae PSR s2sebeseheehesesasese These Notes will be accepted in payment for the new is- sues of U. S. Treasury Certificates and Notes, dated De- cember 15, 1922, CRANE, PARRIS & COMPANY Investment Bankers 823 15th Street N. W. S00 DOLLARS ANR UPWARDS Reondatt T Hgner % 7207 %flnec/c'&u{ ‘%enue 5252525252525:5252525 £52525252525252525¢e525e525¢! $12,000,000 The M. A. Hanna Company 7% Cumulative First Preferred Stock Preferred as to both Asscts and Dividends. Redershie as a whole of in part at 110 and accrued dividend. Dividends peyable quarterly December, March. June and September 20. Par value of shares $100. Total authorized $20.000.000. Free of the present United States NormalIncome Tax. and freeof all present Okio Taxes except Inheritance Tas. The Chase National Bank of New York: The Guardian Savings & Trust Company. Cleveland, Registrars. Central Union Trust Company of New York: The Union Trust Company. Cleveland. Transfer Agents. Application will be made in due course to list on the New York Stock Exchange An annual sinking fund of 3% per annum of the total amount issued provides for purchase up to the redemption price or, if not so obtainable, for call at that price The following information is summarized by Mr. H. M. Hann his letter: The M. A. Hanna Company, an Ohio corporation, is taking over the assets and business of the firm of M. A. Hanna & Company and affiliated interests in iron ore mines, bituminous and anthracite coal mines, lake vessels and blast furnace plants. , Jr., President of the Company, from The original partnership was formed in 1867, and since that time has managed and acted as sales agent for a large number of operating companies, many of which are controlled by stock ownership. Since 1885 the average return has been more than 22% per annum upon the average annual capital and surplus invested i the partnership of M. A. Hanna & Company and in the companies now wholly owned for the period while so owned. During the latter part of this period, with steadily increasing capital and surplus investment. the average annual return for 10 years to December 31,1921, was nearly 15%,and for 15 years to that dateover17%. For the 5 years ended December 31, 1921, the net income after interest, depreciation and depletion reserves of the interests now consolidated in The M. A. Hanna Company, as audited by Messrs. Emnst & Ernst, averaged $2,407,788. In addition, the proportionate amount of undistributed earnings of companies partly owned applicable to dividends on shares owned, averaged $786,881. These figures are after deduction of Federal Taxes at the present rate of 1215%, as the taxes actually paid were to a large extent a charge against the individual members of the partnership of M. A. Hanna & Company. The balance sheet as of June 30, 1922, prepared by Messrs. Ernst & Emst and adjusted to give effect to the consolidation and capitalization of The M. A. Hanria Company, shows net assets, after deducting all liabilitics, of $30,127,027, or $251 per share of First Preferred Stock. In many cases the values shown in the balance sheet represent properties acquired many years ago at costs far below present worth, and excluding the invéstment in The Hanna Furnace Company, the investments in the companies wholly and partially owned are (with a few exceptions due to the method of acquisition or payment therefor) based either on the actual cash cost of the properties or on property valuations as of March 1, 1913, fixed by the Federal Government for purposes of taxation, all after adequate provision for depreciation and depletion. The investment in The Hanna Furnace Company is based on depreciated replacement values as of January 1, 1916, as determined by independent engineers. The members of the firm of M. A. Hanna & Company will continue in the active management of the pro- perties and business consolidated in the new company. Woe offer the above First Preferred Stock for delivery on or about December 20,1922 when, subject to approval of legal matters by our counsel. Price $102 per share and accrued Dividend from December 20, 1922. To Yield 6.85% s and if istued and received by us, Further informatibn is contained in a circular which may be had on request Dillofi, Read & Co. The Union Trust Company, Cleveland The informstion contaisied in this sdvertiscment bas been obtained from ssurces which we consider refisble. While net guaranteed, it is accepted by us as sorurate.