Evening Star Newspaper, December 15, 1922, Page 29

als after January 1. ‘BIG BUFFALOTIR PLANT T0 START UP =2 British Capital and Brains In- | terested in Future of Dun- lop Company. BY J. C. ROYLES L Dispatch to The Star. NEW YORK, December 15.—If com- petition is the life of trade, the tire in- dustry will get a new lease of life short- ‘The prompt sub- scription of the bond issue of the Dun- 1op Tire and Rubber Company of Ameri- ca, amounting to nearly $16.000,000, as- sures the starting up of the big plant at Buffalo shortly after that time. It has stood idle, 90 per cent completed, since the depression of two years &g0 . struck the tire industry. . 1t also marks the return to the Ameri- can industrial fleld of Sir Eric Geddes, sometime first Jord of the British & mniralty and director of the production «0f British munitions during tl yar. Sir Eric will be chairman of m; board of the revived Di company. while Eaward B Germaine, _former sales manager of the B«lhlehem Ship- Duilding Cerporation, will be_its presi- cdent and chief executive. ‘The latter { has already salled from England to take { charge of completing the plant and starting production and active work will ' commence with the turn of the year. Sharp Competition Seen. Many significant factors have brought about this first serious in- vasion of British capital American industrial field since the war. The company will obtain its crude rubber from its own plantatio in the East Indies operated by the British Dunlop Company. With «rude rubber soaring toward 30 cents a pound and with demands for wage increases even now pending at Akron, ‘American manufacturers will have to utilize volume of production and every trick of management to over- come this handicap. Moreover, the Dunlop Company has obtained ownership of the Utica Mills at Utica, N. Y., which will dls- continue at once manufacture of un- derwear and be converted to the pro- duction of tire fabrics and cords to be utilized In the Buffalo plant. The Dunlop Company, for the time being at least, will devote its energies to + high quality production and will not + of woolens for fall B invade the low-priced fleld. The Buffalo factory has a capacity of from 13,000 to 15,000 tires a day and eventually about 20,000 men will be ¥employed. In this connection it may ¥ be pointed out that Sir Eric Geddes is regarded as one of the greatest handlers of labor in the world, per- haps because he got his own start with a pick and pinch bar. Textile Prices Firmer. There has been a decided firming up of prices in both wool and cotton textiles in the last few days. Lines are generally priced well above the levels named a year ago, while the strength of raw cotton has solidified determination of cotton mills to make no concession in price on cotton cloths In this connec- tion it Is noteworthy that while the final estimate of the cotton crop of Louisiana is only 78,000 bales above that of last vear, it is worth $32,840,- 9ge. or $10,500,000 more than that of 1921. ‘Wholesale grocery sales throughout the country are averaging far above the totals for last December and there Is a steady demand for canned food products. Milk prices in many sections have risen. Some vessel owners on the great lakes have gambled and won against the weather. They have continued to operate their vessels between Decem- ber 10, when all marine insurance on the lakes terminated, and today. There has been a tremendous volume of freight awaiting shipment and own- ers estimate some of their late voy- ages will return profits as high as $50,000 each. " Detroit Auto Plants Keep Up Midsummer Speed Special Dispatch to The Star. DETROIT, December 15—The busi- ness of the retail stores of Detroit has already passed all records for a holi- day season and there still remains more than a week in which to add to this imposing total. Usually the automobile plants here are practically closed down during oDecember. This vear they wil] oper- ate at midsummer speed right up to Christmas. The Ford holiday shut- down will be the shortest on record and the Cadillac Company has post- | D Poned Inventory taking, so as not to check production now. The employment report shows. an increase for the week of 5,080 work- ers. bringing the total on the pay &olls to 275.000. A year ago the total 3 employed was 100,000. (Copyright, 1922.) —_——— WOOL PRICES FIRM. Week's Interest Centers Largely in Foreign Markets. BOSTON, December 15.—The Com- mercial Bulletin tomorrow will sa; “The wool trade has passed through ‘another week of guiet trading, d yot there has been sufficient busine: to keep prices generally firm; cer. 1ainly there has been no easing on th better descriptions. Interest continues to center chiefly in the foreign ma kets, where there is new wool to be had in quantity. ““The goods market is not especially active, nor yet altogether dull, with values ruling firm in spite of the o mlluon to the recent cloth advances. —_— ERIE TO ISSUE NOTES. I C C Airees to Financing for Purchease of Locomotives. The Erie Railroad Company was luthorlxefl today by the Interstate “ommerce Commission to assume obligation for the payment of inter- ¢ est and principal of 800, in . - equipment trust certificates. The funds from the sale of the securitl will be used to purchase new loco- motives. The Detrojt and Mackinac Railway tompany was authorized to issue 3450,000 in 4 per cent bonds. The company needs money, the applica- tion said, to pay off maturing short- time indebtedness and to meet other obligation BUYS KING MOTOR CO. DETROIT, December 15.—The vol- untary bankruptcy of the King Motor Vcar Company was ended in Judge Adolph F. Marschner's court yester- day and the recelver discharged. A dividend of 17 per cent was declared. ‘The property was purchased by C. A. Finnegan of Buffalo, N. Y., who is szid to have pald $500,000 and as- sumed debts aggregating $1,000,000. PLAN $50,000,000 SUBWAY. PHILADELPHIA, December 15 (Spe. cial).—Indlcations are that plans for the_congtruction:of a munl way under Broad street will nu-had !o completion in the néar fu- e project will cost between 5‘0 000, NNJ and ,'0 000,000 and provide steady work for many. —_— STRIKE RECOVERY RAPID. PITTSBURGH, December 15 (Spe- clal).—Mining and industrial commue nities recently n.flscud by the strikes and ear shortage have recovered mar- velously and collections in these sec< tions show great improvement. Ac- tivity in steel has spread to other lines' and many factories are increzs- ing operating schedules. FINANCIA into the | pal sub- M ‘wili | Prague, crown Grain, Produce and, Live Stock LOCAL WHOLESALE MARKET. Poultry—Roosters, tllrluvy-. per.Ib.. 47a4k; Tring ="‘°“'“ 25; keats, youns, , 32, Dressed poul! —rn-h-km:d spring ehlckmu. peruu!;“ 27a28; hens, 24a25: roostérs, per Ib., 1b., §6a34; keats, youn, esch, I.I'v. 'k—Calves. ¢! per Ib. Green frujts—Apples, per bbl. Der bushain pasker, nearb jr Delicious, No. 1, per bbl cholce, Dlll‘% IOD.IOO each; H" Florida. 4.00a5.00. oS, 6.00a7.00, ano;’rull. Fines. 2508300, e egetables—Potatoes, per bbl., 50a3.00; o .00a2,28; " No._ 3 tuce, per crate, southern, maine lettuce, per cnte. B lettuce, per_crate, b.2! northern, 1.50a1.75 per 100 lln. per bbl, 1.5t plants. per crate, 4.00a’ m per box, Florida, 3.00a6.00. 3 0024.50 per huke!. Peas, basket. “Peppe: T nt I 2.50a4.00. l’\nle. Dzle' c et Spinach, per bl 2.00a3. M. Celery, :30 domen, Eoat 00; Californias per crate, aooso. California grapes, per crate, 1.60a o GRAIN AND PROVISIONS. BALTIMORE, December 15 (Spe- al).—Potatoes, white, 100 pounds, 3; 150 poupds, 90a2.00; sweets, barrel, '1.00a1.75; yams, barrel, 1.50a 2.00; beans, bushel. 3.00a5.00; beets, 100,” 3.9024.00; brocoll, bushel. 30240; brussels sprouts, quart, 15a20; cab- bage, ton, 20.00230.00; savoy, bushel. 50060; carrots, 100, 3.00a5.00: cau'l- flower, barrel, 3.00a6.00; celery, 100, 4.0026.00; crate, 4.00a5.00; lettuce, ba: et, 50a2.00; onions, 100 pounds, 1.0 1.75; oysterplants, 100, 5.00a6.00; pai | snips, bushel, 90a1.00: pepper ket. 3.5025.00: pumpkins, 100, 20.00; spinach, bushel, 65a80; crate, 4.00a7.00; turnips, bushel, packed, barrel, 2.00a3.00; 50a1.50; loose, bulhfil. 50a76; 25a40; cranberries, barrel, grapefruit, box, 2.25a4.00; box, 3.50a5.00; pineapples, Apples, 'bushel basket, 11.00a14 oranges, crate, 4.00a7.00. Selling Prices at 12130, 1 red winter, spot, no 0. 2 red winter, spot, 0.'3 red winter, spot, no quo- Na, 2 red winter, garlicky. 1.34%; No. 3 red winter, garlicky, no quotations; December, no bid. Sales—None. Cor: per b bushel no quotations; track corn, yellow, No. 2, old\lo better, 85a85% bushel. None. White, No. 2, 54% per bushel asked; No. 3, 54, Rye—Nearby, 2, western export, spot, bushel: No. 3, no guotation: Hayv—Receipts, 39 tons; market for top grade of timothy and light clover mixed, 16.00a20.00 per tom, and for good mlxed lG N)ll: 50. Stra: ngled rye, 15.00a 16.00; No. 1 1 hel 10.00a11.00; No. 2 oat, nominal, 12.00212.50. TODAY'S CHICAGO PRICES. CHICAGO, December 15—Wheat tended downward in price today dur- ing the early dealings, being af- fected by apparent indifference which the Liverpool market displayed re- garding upturns here yesterday. Be- sides, it was contended that both Argentina and Canada were under- selling the United States abroad. On the other hand, domestic millers were reported to be doing business on a large scale, and there was hopeful gossip current as to progress looked for in regard to export financing plans at Washington. The opening, which ranged from % to % lower, with May 1.23% to 1.23% and July 114% to 1.14%, was followed by l{ 85295 per bushel; No. 1.02 per moderate further setback. Corn and oats were easier with wheat. After opening % to % lower, May 73% to 74, the corn market con- tinued to sag. Oats started % to % off, May 463 to 46%, .nd later showed but little ally. of hog values gave & llllln l!ren‘th to provisions. Rallies failed to last and the wheat market near the close was bearishly influenced by developments concern- ing German financial difficulties and by word that Omaha would ship wheat to Chicago. The finish was unsettled,. % to 1% cents net lower, with May 1.22% to 1.22% and July 1.13% to 1.13%. Ogn BOWeE) t High. Low Clo 187 13% xzm 1% 1ix 158 158 75 75! ;::i i Jl JT4Y% A% 483 42t A 10.25 10.25 10.53 10.50 10.30 10.20 DAIRY MARKETS. BALTD(OR& Md., December 15 (Spe- cial).—Live poultry—Spring chickens, 22a24; leghorns, u;zx : old geese, 21a28; turkeys, Dl‘wn.. pair, 25a30; guinea 851 -Loss rby crea ory, ¢4a47; ladles, JSIIC rolls, 33a35; store packed, dairy prh\u. 8!!35 process butter, 38a39. CHICAGO LIVE STOCK MARKET. CHICAGO, December 15.—Hogs— Receipts, 40,000 head; market strong, with Thursday’s best time; bulk, 200 to 280 pound averages, 8.05as.1 .mostly 8.10; ;140 to 180 pound aver- ages, strong, mostly 3.15; top, 8.15; packing - sows, 17.26a7.75; gesirable Digs, 8.00a8.15; heavy hoge 1 medium, 8.00a8.10; _light, 8.0 nn 3 light light, 80588 155 nncklng sows, smooth, acking sow! 8.1 Cattle—Receipts, 7,000 head; market low, uneven; weak to lower on b teers, better grade butcher she stock, stockers and feeders and veal calves: killing quality plain, early top yearlings, 11.00; bulk beef steers, 8.00a9.75; lower grade beef cows, ca: ners and cutters steady to stro: bulk desirable veal calves to pac ers around 9.50; bulk canners, 3.7 bulk "desirable ‘bologna bulls,” 4.00a s Sheap——Receln(s, 8,000 head; opening slow, choice fat. lambs -leldy to vlelk n-between grades rly 1% 1o Ppackers; fed 80-pound clipped lambs,. 13.00; fed 36-pound yearling wethers, 12.50; feeders Julet: shes steady; heavy fat ewes, 5.00; 0’ Tightor weight quotable up to 195, e FOREIGN EXCHANGE. (oneufin-mm-dwvr B. Hibbe' & Co.) Nomisal ’‘Belling checks, 8014 vaive. l') PARIS BOM SIIAD!. nefln the bonru T'h”‘ Tee per cent ronn 69 mnu- ll centimes. ndon, 63 francs &5 Five per cent loan, 75 francs 85 centimes The dollar:was quoted at u francs 70 centimes. Railway common furnished a mild 758 | sensation on the local exchange this 00: morning. The stock opened at 66%, s new Cob corn, new, 3.80 and 3.85 el; contract, spot, 83 per ; No. 2 corn, spot, 84%; No. 4, Am nz A rough, 22607 80; ktlng Digs, ‘B00u Linerey RAILWAY COMMON MAKES NEW HIGH Sells at 67 to 67 1-8—Divi- dends Declared, One Extra. BY L A. FLEMING. high, as compared with 65% yester- day, and then rose to 67 with 200 shares sold, after which small lots at 67%. The sharp rise of the last few days has been accomplished with- out ncreasing the offerings to any appreciable extent, and it would seem 28 If the end of the bull movement was not at hand. The Capital Traction shares were easler, gelling at 103%. Washington Gas , 55 to b5%. ’Wmnlun were slow, with but fow shares sold, these at 173 to 173% for Mergenthaler, and 77 for Lanston. Union Trust, 143. Polomlc debenture 6s, 99%; General s, 99%: with but little doing. District National Dividend. Directors of the District National Bank at & meeting held yeste after- noon declared the usual quarterly divi- dend of 1% per cent, payable Decem- Der 30. Du Pont Elected Director. William du Pont of Wilmington, Del., has been elected a director of t.he Miller Train_ Control Co., and also been named as chairman of the executive com- mittee. Mr. du Pont has long been & large shareholder in the company, but lu:l never taken an active interest in its rs. ‘The Joint Dinner. The joint dinner of the Washington Stock Exchange and the District Bank- ers’ Assoclation will be held at the New Willard Hotel on the evening of Jan- uary 20, 1923. ‘The committee handling the affair Ior the Stock Exchange s Eug Joshua Evans, jr.; H. coran Thom, George W. Whi F._G. Addison, Jr. It's expected that the invitations ha bers of one assoclation are to refrain from Inviting membe: the other organization. Invitations will be sent out through Eugene E. Thompson, president of the Stock Exchange, and members are requested to forward lists of those whom they will invite as quickly as possible. Tickets. will be $15 a plate. Anacostia Bank Dividend. The Anacostia Bank directors yes- terday afternoon declared the regu- lar dividend of 4 per cent for the half year and in addition an ad- ditional distribution of 1 per cent. Dividends are payable January 1. The surplus and undivided profits of the bank exceed the capital. Functioning. ers and Merchants’ Bank a {8 functioning in that suburb despite the refusal of the con- troller of the currency to grant per- mission for the opening of the bank. Shenandoak Joint Land Bank. ‘The Shenandoah Joint Land Bank announced an ué of § per cent bonds, based on Shenandoah valley farm lands—the first of this class of mortgages on the valley. ‘"Crma, Parris & Co. are in the syn- cate. —_— Washington Stock Exchange “rau--e Elec. deh b——n 000 at 99%, $1,000 Potomac _Elec. m. 1,000 ai , $11000 (3 6—3§; t 90%, c-pmicq;n—s 1t 103%. . Wai on an ‘com—] it 663 100t &7, 2 Rwy. and Elec. pu—l at 5, 25 2 e i Gas —10'at 55, 3 af st Co.—4 at 143. joilerpeathaler Linotype—3 at 173, 10 at AFTER CALL. Lanston Monotype—10 at 77, 2 at T7. Washington Rwy. and Elec. —10'at o7, 10 at s%“;{ i T Money—Call loans—35 and 6 per cent. BONDS. Bid and Asked Prices. 3 82 23BRIN2IRAS i!;fi“s} 5 Washington Gas 7% Washiugton Rwz. and Elec. 4. Wash. Bwy. & Elec. g. oo mlc:u.ubom :a" E3 & Bafe Soaah: Saret oo lmnn Wardman P STOCKS. ark PUBLIC UTILITY. Amer. Tel & Telga. Capital Tractlon. Washington ~ Ga Norfolk ssd Wasd, Gteamboat.. Wash. .Rwy. and Elec. - ;‘% EELHY " a ‘Terminal Taxl ptd. NATIONAL BANK. ¥ 3 ‘MISCELLANEOUS. ‘com. —_————— BAW SUGAR MARKET. NEW' YORK, December: 15.—The early raw sugar market was unchang- o4, at 3% for Cubas, cost and freight, equal-to 5.53 for centrifugal. Thers were sales of 6,500 bags of Cubas ufioat and 5,000 for December .ship- mentat quoted prices, The raw sugar futs market opened -irregular, but firmed: up on covering and trade buy- ing. with ptices at middey 1 point lower to 4 net higher. NEW, YORK CURB MARKET by Private Wire Direct to The Star Office. Recelved BY WILLIAM F. HEFFERNAN. NEW YORK, December 15.—The upward movement was again manifest throughout the greater part of the industrial trading on the Curb Exchange, but elsewhere price changes were irregu- lar. Copper.shares continued active and higher, the buying here boln stimu- lated by the advance in e price of the copper metal, which is now ;v.lll established above the 14-cent evel. Standard Ofls Weak, Standard Olls and independents werc inclined downward, but with losses generally small. Several stocks were removed from trading_today and this tended to b n the activity in no small cluded among these were t! shares of $26 par value of Standard Mst throughout today's |83t of New Jersey, the capital shares of Aelm Consolidated Oil, Cripple Creek ot Colorad: common shares of no par value of Continental Can, traded in for the time on Thuraday, were active among the lnflu-trl-.l but remained hy ng level of the pre- Cities Service Active. Cities Bervice common selling ex- dividend 1%, quickly made up the amount of the dividend reduction which was taken off the stock. Re- ports that the Mammoth Oil Com- ny's well, No. 301-A, in the Teapot me, was flowing from 15,000,000 to 20,000,000 cubic feet of gas had mno effect upon the stock. ‘The declaration of a fifty-cent dividend by United Verde Extension, payable to stockholders of January 2, resulted {n an advance of a half point in th! tock. The company had pre- paid 25 cents quarterly. NEW YORK, December 15.—Fol- lowing is a list of today’s highest, lown: and closing prices for the most e bonds and stocks dealt In on ket: thc New York Curb M 108 lgn:u"' Ny 0% 09y 9 985 98! 100% 101 108 108! 1085 108 1048 108 55 1045 104! 1029 102 () % 101% 101% 08 108 o3y o8y 98% 301 304 30 1073 107 WL 90y 00 35 100 1080 108 & Copper lxport 8 ahy s 90" 90 90 2 Pecre 10y 1y 102K vk esd o7 4 Dominion 1 & 851 854 14 Federal L Bank 4% 100 8 Gair Robt Ts. 97 e it B o (4 987 17 Theh ™ e et o7 an ow Lt 58 o To... 1064 106 108 01% 101 101 028 928 82 o1 91% ol n® o e 105% 1083 1083 25 [} 3 80 80 Ph Pet T%s 101 Pflb!mutNJ'zu. 1 FOREIGN BONDS. 7 Argentina 100 100 200 Refiin 4 s can 738 Rydm Netheriands 8 8% it 1 Republic of Pera 85. 9734 9T% 97% & Russian Govt 53 10° 107 10 ) Rumian Govt cf 5 01 oY 11 Russian Govt 8% 10° 10 18 Russian Gort 6% 91 @ 1 Bwlss Govt 5% 1028 102 2,08 gt Mexico 4 381 38 Sulesin STANDARD OIL IsSUES. units. 1700 Anglo-Am Oil . Iua fl}g 300 Atlantic Lobos 2;% 2“: é Fd % 43 Consol ‘est End Cons ext lfl .‘0 Whlh Caps Extens. .01 —_— TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ——Noog.—— Bate—Matarity. s March 15, 1 99116 SHORT-TERM SECURITIES. (Quotations farnished by xed-una & 00) -Noos. Bd. Aluminum Co. of Amer. 7a 1925. 108! Aluminum Co. of Amer. 105! American Cotton OIT 88 1924...~ 97 American Sugar 6s 1987. 101% American Tel & Tel. 65 1024 & Tel, 6a 1925 Kaosas Clty Term, o 'xa:zs Penna. 1930. 1 Dnion Depot 5i4s 1928, B ‘Roebuck & Co. 18 1928 Tank C Vacaum 01l Ta 1638 Western Unlon 6%s 1988, Westingbouse E. & M. 7s 1931 107 BIG INDIA COTTON CROP. India’s cotton crop Is reported as yielding well, having had general favorable weather conditions, the In- 1 Institute of Agriculture at notified the Department of Agriculture. The second official fore- cast_gives the area planted up to October 1 as 17.412.000 acres, or 8 per cent more than last year. EXCHANGES TO CLOSE. NEW YORK, December 15.—An- nouncement is made that the New York Stock Exchange will be closed on December 23. The Consolidated Stock Exchange lnd !ha New York curb mar- ket also will be closed. 5 % 3848 i si: "oy 'y 'ew| TODAY'S DRY GOODS PRICES. (L Sitles Serv BB ptd. 685 63 0% | \ow SORK, December 15 (Special). 10 Esmer Dll l .01 01 —Moderate activity continued in the eers Pet 17 17 .17 |market for cotton cloths today and 133 Federat 01 88 32 .88 |yrice firmness was fully maintained. 3 Gubasdion 3 "3 "3 |Bc tone of the raw silk market here 3 Qlen Bk G #f 5™ s |was very firm and activity was re- 5 Roretope B¥% 3 B |ported trom Yokohama. 1 Kirby Yet 3 3 3 - 8 Fii % % % | RAISE DISCOUNT RATES. 4 BAY, December 15.—The Bank 4 fmna o 11 G B, Qe ) BOMBAT. D ot bo Ol 18 ma 16% | (Calcutta) today raised their dis- 1 o 17 | count rates from 5 to 6 per cent. 1, 1 3% s EXTRA DIVIDEND VOTED. = 1 NEW YORK, December 15.—Direc- % 334 |tors_of the United Verde Extension 1 Mining Company today declared a 9! quarterly dividend of 50 cents, an in- ng? > I‘u’ Orease of,25 cents over the last quar- s 1y 2w sers St e i & 35,000 Llfe l’ollcy’"m 85 38 Ti 1 Age 3, B Wi olt & Giv. ® PR 000000 32 1 oy 8 5T s s : 8 8 5B 1 :§ 2 Camy 1088 200 it Tes 285 Continental. Ga 2" e 8 Century 28 26 1 Cleveland Motor . -’a 30! 1 Cuba o 2D L4 o7y 108 1 Dubitier 2% 2 » 178 1R 1n 5 L i Uy By By H 2% 2% 2 : =i i Tl 5 M 18 Morcer M % 16 Me 8 3 3 Mesabd I 12% 12% L% 1 Nawh &’ a e 20 New n 12y ZNY 13 Suz INJ 72 1 a7 2 Aselda Corp. 107 10 § hatiea ope 5% B4 2 Prima Radio 1, 1 1: sEEne= % U 4 Badio Gorp pi 30 3 3 53 Rapetti Ca: 2% 3 2% b3 EE I Btates Corp. .21 . 1 Evundara Motor-—": “3% 2% "3 jims i 3 § owits 6% 10 108 1'Toad 55 55 88 3 Unit [} 3 16 Unit Bi3. 84 - B us Lt 1% 1% 1 1355 b azly s 82 5 Wayne 28 2% 3 10 West -Ead 45 4B 4B e b B v otor 11, 10K 108 X @ Alaske BritCol ... 3 2 2 20 3ig Lege . 05 06 .08 10 Bison : 2% % 8 70 Bost & Mont 2 .83 8 1 Cala Verss 2% 2% 2% 10 Calumet & Ji s 8 Canario Cogoar 3% T a% 2% 140 Gandelaris 20 20 20 Columbia Emersi el 9 Goas Aris 10 Cerk Prov Cortes. Silvar Creseon Gold Dryden Gold....... Salvador. Silve Eureka Croesus. T MO T T M -. LE ROY GD" Branches Reem 618, m:fim N 6. | EQUITABLE Co-Openh'v-e _Building plan to make saving easy— llv. a little each pay day and you will be -urpflled at the amount accumulated in a short time. Subscriptions for the 84th Issue of Stock Being Recefved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. Preafdent PRANK P. REESIDE, Seey. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY Vacuum Oll old. The new | FORT WORTH, December 15.—Re- port of the extent of the top cotton crop is a ruse to force down prices, according to a statement today by Charles E. Baughman, commissioner of markets and warehouses of Texas. He declared that there may appear to & crop to the casual observer, but that inspection shows the bolls are worthless in most instances. lower today whil nlne is flrm at the best prices of the year. PORTLAND, December 15.—Two large shipments of Oregon pine re- cently left this port for @olaide, Au- stralia, where d for American lumber produu is xunlnlly &ood. SHARON, Pa, “December 15. —The Standard ‘Tank Car Company has 3' 000,000 in orders on its boo! to- day. The com; y has been forced to refuse business for early delivery. PITTSBURGH, December 15.—Ur- gent demand is being made for pipe, ecially the smaller sizes building purposes. Nails a: for the same reason. ing on a basis of for galvanized nealed. Full finished lh-etl are quoted at $4.70. MOSS POINT, Mi December 15.— The Southern Paper Company {is pre- paring to build an addition to its plant here at a cost of more than $1,000,000, which will the capacity of the pl pany specializes in wrapping paper. ATLANTA, December 15.— About 20,000 more automobiles were licensed in this state this year than last, and dealers reported today & heavy de- mand for closed models for holiday gifts. Filling sations are growing up quickly in many sections and the trade in general is holding up re- markably, KANSAS CITY. December 15.—The . D. Lee Mercantile Company, with plants here, at Salina, Kan.; Minne- apolis, South Bend, Ind. and Tren- ton, N. J., reported today that its grocery business has increased 25 per cent in the last month, and that its sales of work garments have dou- bled compared with last year. value of work garments soid ceeded $1,000,000. SEATTLE, December 15.—All Seat- tle shoe manufacturers are running full forces present, but the output is largely confined to aport shoes and footwear for golfing, fishing and hunting. The holiday close-down in the logging camps has hirt trade in heavy logging boots. Money to Loan Socuead by Sres aod of trast an yeel setemn. Provafliag fn ca'n-.l.n Joseph I. Welle v An Income of $50 a Month may be had by investing $6,800 in the Preferred Stock of one of the largest corporations of the country. Safety-of Principal and stability of income are assured through large assets, high earning pow- er and eficient manage- ment. With an investment of approximately the amounts shown below, a monthly income may be had as indicated. Investment. Monthly Income $6,800 $50.00 3,400 25.00 1,700 12.50 680 5.00 340 2.50 68 .50 Circuolar on Request Thomas W. Brahany & Company Investment Securities 510-11 Evans Building Main 6189 EFORE any se- curity is sold, the ge in accord- ance with theRevenue Actof 1921 should be carefully considered. Our circular just published discussing this matter with great thoroughness will be mailed on request. Gnmhasous&(b NEw Yomx Invest at Home IN making-an investment choose one that will help Wash- ington. s ‘Why make investments through foreign companies or invest in Mortgages on pronmy in states of the Union far removed from your place of residence? 3 We have First Mortgages that pay you an attractive rate of interest, with prompt paymient of interest and safety of principal. You will do better for yourself and for your city if you will invest your money in our First Mortgages, rather than Mortgagés on property scattered throughout the United States or in bonds you know nothing about. In amounts of $250 and up. B. F. SAUL CO. MAIN 2100. 1412 EYE ST. N.W. LEAF TOBACCO MARKET. BALTIMORE, December 15.—Re- ceipts, 131 hogsheads, and reinspec- tions, 108 hogsheads. while sales to- taled 183 hogsheads during the past week. Judging by the few hogsheads of new crop that have eome in, we will have a very thin, ripe, light- handling t next year, with many leaves showing some house- burn. This crop will, therefore, con- tain many so-called Holland grades. but it remains to be seen how well this crop will suit the domestic manu- facturers and the buyers for French Regle. Maryland prices per 100 pounds— Inferior and frosted, 3a4; spund com- mon, 4a8; good common, 9al17; me- dium, 18a27; good to fine red, 28a50; fancy, 63a56; seconds, common to me- dium, 4a10; seconds, good to fine, 11a 25; bay tobacco, fire-cured, 15a5 D per county, Ilr'gureod nominal mnnd leaves, new, 2a2 - Unsound and badly mixed nlckl'!l from 1 to 8 lower. Stock in warehouses: Maryland, 11,- 507; Ohlo. 3,719; total, 15,226. FINANCIAL PENNSY LEASES LINE. Takes Over Part of Ann Arbor Railroad for 100 Years. NEW YORK, December 15.—A lease to run for 100 years from the first of next year has been signed by the Pennsylvania Rallroad and the Ann Arbor raflroad for use of the latter's terminals in Toledo, Ohio, and its road to the Michigan stute line ! Newman Erb. chairman of the ex- ! ecutive committee of the Ann Arbor | railroad, in denying a report that: the Pennsylvania had completed ne- } gotlations for the taking over of the | Ann_Arbor in its entirety, says: “The Pennsylvania raflroad has en- tered into a contract with the Ann Arbor railroad for the use of the latter's terminals in Toledo, Ohio, an its road to the Michigan state iine, said Mr. Erb. “These terminals are now being amplified gnd improved 50 as to enable us thoroughly to cover their requirements. i ¢ } £ To Owners of United States Victory Loan 43% Notes IT is officially estimated that of $700,000,000 ofthese notes called for payment on December 15, 1922, more than half have not yet been presented for ion. Interest ceases after December 15,1922.In order to avoid loss of interest you should present your notes now either for payment in cash or in exchange for new issue United States Treasury 4%% notes maturing June 15,1925, offered for subscrip- tion at par. © Werecommend such exchanges and offer our servicesinconnection therewith withoutcharge. S. W. STRAUS & CO. mTasinwzD 1382 < aryics v TIOETY TR % mNcoromaTEs NATIQNAL METROPOLITAN BANK BLDG., ‘Washington, D. C. Telephone, Maine 5847 Members Investment Bankers Association of America New STOCKS and BONDS New York Stock Exchange, “Chicago Stock Exchange, Associate Members of New York Curb Association. JOHN CALLAN O’LAUGHLIN Manager 738 15th Dean, Onativia & Co. Stock Exchange Building York MEMBERS: WASHINGTON OFFICE Main Floor, Woodward Building Phone Main 2040 MONEY TO LOAN —in any Amounts on First Mortgages. Lowest Rates of Interest and Commission Prompt Transactions Thomas J. Fisher & Co., Inc. COTTON GRAINS COFFEE SUGAR New York Cotton Exchange, Chicago Board of Trade, N. Y. Produce Exchange, Minneapolis Chamber of Commerce. CHARLES R. ALLEY Assistant Manager St. NW. as issued by us, will be FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF 500 DOLLARS ANR UPWARDS /207 %mmz %m Out of the Large Number of People Who Know How to Save, Few Know How to lnvest FIRST TRUST NOTES found to be a safe and sure method for the inexperienced investor. Consult Our Loan Department