Evening Star Newspaper, December 21, 1922, Page 29

FINANCIAL." TANKINNATONL ‘TOOPENA BRANH ocation, 1111 Connecticut Avenue—New Savings Plan. NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office. net profits equivalent to $14.83 on the average . amount..of common 8tock outstanding, against $14.44 in 1931, In th lne,r‘mmn, hawfl;‘ :dh ll‘fll r: , while the preferred and bank- ers’ e only slightly changed. z The declaration of the regular quar- terly dividend of $2 a share by Prairie Pipe Line had .evidently been discounted, and the stock reacted T p'o‘lntl. This is equivalent to 36 2 share on the old capital. Before the recapitalisation Prairie Pipe Line paid $3 quarterly and an extra dividend of $2. -Stookholders also approved: the dstrfbution of 200 per cent stock dividend to holders of record December 27. . Owners.Keep Gas Shares., In addition:to the regular quarter- 1y dividend ofe$2.50 a share, National Fuel Gas.Company declared & 1 cent stock dividend, increa outstanding amount $37,000,001 dividend.in Stock is payable Janu 15 to holders.of record December Up to a late hour no salés had oc- curred 5 The campafgn in the Durant fssues showed o signs of let up. Reo M tor was- also' in_dema prices. 2 . BY WILLIAM F. HEFFERNAN. NEW “YORK, December 31.—OIl shares occupied the lading position in curb dealings today. They were]| influenced, as were the same group on the stock exchange, by the expec- tation of higher pricés for both crude ofl and refined products After the turn of the year. There was a lot of shifting into the oils from other sections of the mar- ket, and as & result some of th favorites among the industrials were rather heavy. Maracaibo Ol ‘went lower in the early dealings, but subsequently rebounded sharply on short covering when the buying move- ment In others of this group became manifest. Mutual Oil, Mountain Pro- ducers and Balt Creek Producers were leaders in the upturn, while frac- tional gains were common through- out the list generally. Serviee Commen Higher. Cities Servic reached higher ces shortly after trading started, in response to the pubdlication of net earnings on the common for the year ended November 30, showing E BY L A. FLEMING. €he long-expected application of he Franklin National Bank for per- uission to open an uptown branoh ank was placed on file with the cone roller of the currency this morning, nd by him posted, where it will re- main for ten days, awaiting action. This is the course adopted in the matter of the application of the Lin »In National Bank, and will pre- <gmably be followed in all further equests of this kind. The Franklin National has rented he property No. 1111 Connecticut 1 Marjand .. ¢ —Fol- . ivenue, near L street, now occupted |, NEW FORK. Decemper 2L obol| df Mamtaio B % v a retatl store. £ REni 3 This locatlon is across the avenue | active bo! t 18 Mount Prod % 11l nd a little north of the home at one | the New York Curb Marke! b ime selected for the Connecticut Ave. | Bales ta - nue Savings Bank, which never fune- a1 h Yned. = Asked if he had anything to say re- P carding the movement. Mr. Cochran, 2 resident of the Franklin National, 3 jstated that “they had had the matter 3 a bank in the uptown section in {l nd for a long ime and had finally kA >0 cttled on the site mentioned.” Carry $20,000 to Surplus, s and Commer- 1ai Bank directors yvesterday declar- led the regular quarterly 3 per cent vidend and in addition an extra 10 Southern- & ... 08 19 South Rtates O 80 TéxKan Ol . 0 T H g $8 Turman . 12 Wilcox 0il & i idend of 1 per cent, both payable December 31. At the same time the directors vot- 0. b, the month, or, if such dates fall 3 < a% ] -4 to carry $20.000 from undivided - 1 1 rofits to surplus account, making the 1 Amal Leather prd.. 43%. ‘; urplus account now stand at $100,000. D e ) Local Securities. 11 Buddy B o: 1 he lacal stock market is putting on 1 Campbel 108 holiday appearance much as the L b 8 Cent Te: - 1 1 jusiness” of " the city has already 23 Gent Tirean pid L2 fonned Corti (g new L. 42 4 There was no special activity; small 3 Century Ribbon MILY28 5 28 ales and at unchanged prices being LA e W % the rule. w ... 885 38 It is probable t the Washington 1(‘1 B.'.ii A% 4 A m'kr d-h b ill stand adjourned g R ;!: rom Friday until Tuesday urds 3 Loy ph. (3 Application to I 2 Giterse Sejperant mk 0" The Merchants' Bank and Trust KN B has made application to the P § k Exchange to lst 38y 38 +s capital stock, $1.000,000, fully paid. g's 24 iccompanying the application with by 10 he statem that it “has many T nore than twenty-five shareholders, ot ot swing to a ‘quotation lot' of stock. oy 6% New Plan for Christmas Saviags. L e 2 & The Washington Loan and Trust 3 Mesabi Tron 12y 12 mpany has announced the installa-| 12 New Fiction Pub Co 14% 13 fon of a Christm vings club on| & S sell 8ok se >different basis from anything now| 1§ m n operation. a plan pecullar to the| 3§ Rem ST Ry rust company t patented. B I3 3 A?\'N‘(!snfl: announces th.fll i o de- o :,fl.u“ £ 17 Ra 2! 2 osits are nec no penalties for 1 Repetti Cand; 1 & 1 elays. no pass bouks, no withdraw- | 600 AsgleAm 2 Reo Mot o+ 1w 3¢ is until maturity and interest until| 100 Ausstic 11 Standard Corp 3L 3 3 hiscontinued. Fy C&l 235 0E 3% Here is the plan as adopted: Upon Oresceat o on SN % greement by the customer the com- Cumberiand 2 United Prof Sh new 8 5% B any will charge to his or her per- Tifacle 7 United Retil Candy 8% 84 8 onal checking account the amount ot S Lt & Heat 1 1 1 juthorized on the 1st and 16th days .“':r' 2 ': '} 2 hollday, then upon (he next busts e 222 &% A ness day. beginni E 3 Prairie ¥s Corp s 10% § hd up to and including Decernber 17, Bousthern FRATANSR A S 1923, making tw -four. deposits In .'"-&ll 1 Wiathers Motor 9 0§ h11. ent. Interest 1 be added at 3 per The individusl 00! 2 iiigissilfiaisas limit the P . 0 Kents 1% nember of the club is $1.000. Appli- % atlons received unti 5. The &y b Dl nly formality 1200 Vacwves lcher Extens .... .05 .03 re to a card authorizing the setting 0 Bison Gold ... 25 28 fdide of the wmount desired from |fe NDEP! € & Mont Corp.. 38 egular deposits.’” 160 Canada Copper . .63 Advantages claimed for the plan are I g-n;n]g"l-‘_anwr glfi 2%% 2% hese: It opens automatically, it i 20 Gotumbin Emer » K] F+4 innecessary for the depositor to make |- 1 40 Continental Mines W ey sits to the bank. there are mal| 1§ @ Con Cop Min tem ¢f -4 % 3 mptations to withdraw funds and| & ¢ 20 Tt 0 0" he cash will be available when most{ ¥ Colembla a3 5 13 tesired. s 18 i3 1 Another advantage of the plan hat it does not require any of the| 75 Paglesers Pe T % 3‘ paraphernalia used by other olubs| 33 Peatiesy 5 nd no money was paid to any second | 13 gmis e o party for the system - 'S Gian “Aaer, 2 @ The Federal National has slse in-{ 33 Guf Ot elf g tilled a Christm avings club. The 20 Keystsas ¢ 0 irectors decided not to install & clubf 1 Xty Fet & g ‘08 his year. but the demand was so| 30 lasts Creek 3 = o eneral that they were forced tol "¢ o - < ) 10 4 42 nake a change and their club has tarted most auspiclous Federal-American Dividend. Djrectors of this bank met thfs orning and declared a 2 per cent ruarterly dividend. payable Janu- ry 1 & = 88,8320 o3 Washington Stock Exchange SALES. Washingtes . & Bwe. 4041, :nhma".y, :u cora.. 88, B2215283BRRS! 25kB.L-5238E5883 000 at 78. - 10 at 68, The merger did not take place until ‘08 o8 fovember 1. but to even matters the | Ameticts 18 a1 a1 ank declared the dividend for the |3 at 235, 8 I T 44 month of October as well, making all 1%, 2 % 8 K Aings equal. Both banks had pre- L P fously paid dividends tp to. Octo- o e o er 1. B ol The Christmas Spirit Dominant. e % Around the banks the spirit of . it hristmas and the holidavs is domi- ant. Many of the banks are deco- t@ing their offices. while the Unfon Tust Company has two great trees rilliantly lighted in its foyer. Employes are being remembered by any of the banks with extra per- i w35 * 20 Bpearhead- Gold 20 Buccess Mines 1 Teck Hughes 2 Teno Belmont Boy Q83 - 10 Tono Cash o < antages of salaries, and greetings Tonopal passing to and fro very gener-| 12 Toohan Bevers 2 B B asly 7 Tuolumne ... 51 r Banks outside of Washington are|C. 21 United Eastern 1% soding local institutions with|" 20 U 8 Continental... .18 hristmas cards, wishing good cheer | CI7 e el nd another year of accomplishment. 20 Witbert . o ow o Local banks have not been. strong | potom 1 Yukon Goid . s %0 n the interchange of cards, although his year the Commercial National nd the District banks are sending at very pretty seasonable cards to orrespondents Gas Earnings. (From Yesterday's 5:30 Edition.) The Washington Gas Light €om- | lany today reported to the Publie “tilities Commission net income for ‘ovember of $ increase \f approximately i hen net income amounted to § 63.02. The company's showing «st month, however. is somewhat les: n the samo month of last year, \iten net income totaled §76,489.08. Ravenues from commercial gas st month brought in $419,513. " smpared with $397.762.01 for Ameicas!Tellland Telge: = ber, 1921. Traction Capital Traction Earnings. The Capital Traction Company had | net income of $86.790.34 in Novem- rding to its monthly report > the Public Utilities Commission to- . Gross income amounted to $116,- “from which total deduction 1 %$29,203.15 were made. *he company reported a falling off ¢ 366,954 passengers during Novem- or, as compared with the same month ¢ last year. In November, 1921, the ompany carried 6.138,248 paid pas- |;ngers and last month only 5,773,284. Big Extra Dividend. Directors of the Security Storage ‘ompany met this morning and de- | red the regular 3 per cent dividend nd an_extra distribution of 4 psr ent. Stockholders are enjoying-.a ne season this Christmas. 'SHORTAGE OF WOODMEN. ST. PAUL, December 21 (Special).— |3 hespite an increase of 50 per cent in -ages since the opening of the sea- on, lumber companies operating in dinnesota and Wisconsin are unaBle o overcome a shortuge of Ismen. “ommon labor is in especial demand, ¢ith $40 and $50 a month and- alf Poenses being freely offered, —with In ager response. Production of logw s expected to be double that of & ear ago. BAR SILVER PRICES. LONDON, December 21.—Bar silver, 0% pence per ounce. Money, 1% per ent. Discount rates, short and hree-month bills, 2%a2% per eent: _—_— PERRY 15 ARRESTED UNDER BANKING LAW Warrant Issued in Connection With Alleged Misappropri- 4 ation of !‘nndl FERE 8382288238223, FRE Sz8233 Special Dispatch to The Star. ALEXANDRIA, Va., December 21.— J. Lawrence Perry, former vice pres dent of the:Alexandria National Baak, was arrested last night on a warrant sworn out by an agent of the Depart- ment of Justice, charging him with alleged violation -of. section 5309 of the national bank law of December. 1813, in connection with the alleged misappropriation of the bank’s f He was released on- §5. turnished by his brother, Perry. to appear before United States Commissioner, . John Barton: Phillips for a preliminary. hearing at 3 o'clock this afternoon. SUGAR DIVIDEND VOTED. By the Asnociated Préas. HONOLULU, December 21. — The stockholders of C. Brewer & Com) sugar factors and commission chants, have voted-to declare a stock dividend of 100 per cent and to in- crease the capital stock from $4,000,- 000 to $8.000,000. An extra dividend for December of 2 per cent on the present capitalization also was voted, making the total dividends for the year 17 per cent. SINGER “MELON”-DELAYED. AT ‘.il;fllzleenmbcr 21— o inger [anufact ng Compan: has notifled 'lockhnldfl'l' that t.h! stock dividend, amounllnf to 336,000, 000, proposed by the - dirsctors last i | month, will not be declared imm 8 |diately. The corporation’s cash divi 7% | dend for the last quartdr was set at 78 1'$1.76, in placg of the ‘revtolll quar- NEW _YORK. December 21— oreign bar silver. 63; Mexican dol- in addition to the stock -dividend rs, 48.- 2 v 33% per cent that is being hei@ up. 1] HE EVENING STAR, WASHINGTON, D. C. r | the i o T'nngpor; ?oml;'u-y’.‘ Reports were wa clirculate: n the nol that the sensational rise was in spec- SIsamoed 1Ny Wacumursy ulative anticipation of the an 434 YEAR COMPLETED 408 Mues Brve. ment by the company e Sassamee the purchase of some prow‘;d e Telophome: Metn 2088 THURSDAY, DECEMBER 2 MORE DIVIDENDS VOTED. Victor Talking Machine in Today’s List, Bpecial Dispatch to The Star. Mexican “Pete”’ - Soars 60 Points In Three Hours By the Associated Press. NI YORK, December 21.~One of the most sensational prics mavements of thé New York Stock Exchange in Tecent months took: place today in the “stcok of the Mexican Petroleum Company, which advanced nearly. 60 points in less than three hours. clared t $2 on new common and $1.76 on prefe red: Prairie Pipe Line, §3; Transue ai Willlams, 50 cents; A. G. Bpaulding & Brothers, $1.50 on common and 1% per cent on 1st preferred and 3 on 2nd preferred; Fairbanks Morse, ex- tra dividend of 76 cents; Pacific Gas and Electric_{ncreased dividend on common to 6 per cent annually and extra divi- dend of $2 also belng declared. EQUITABLE Co-Operative Building Association 1923-1937 To Yield 5.00%,—£.50% uccessive . saies o 268, 375, 280, 283, 286, 290, 299, 316 and 320. Less than 15,000 sha: are outstanding, the remai ing been converted into Pan-American Petroleum GRAHAM, Par new Smackover oil fi in T but no official confirmation of- this was forthcoming. Edward L. Doheny. president of | Pan-American Petroleum and Tran port Company, sald he could advance no reason for the stock’'s sensational advanc ““I know nothing about it he said. “It {8 my bellef, however, that some #old the stock short and now scrambling to get enough of it to ake deliveries.” . He pointed out that, despite ad- vances by Mexican Petroleum, there: ho unusual activity in Pan-! American Petroleum and Transport Company stock. PRAIRIE OIL HAS PAID $34,560,000 DIVIDENDS Senate Committee Told of Dis- bursements for Past Eleven Years. SYSTEMATIC SAVING Spend today, along the way, and fill your life with sorrow. Save today, while you may, and you can spend tomorrow. Subscriptions fer the 84th Lisue of Steck Belag Recetved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presideat FRANK P. REBSIDE, Secy. Money to Loan b o K- g Joseph 1. Weller S0 E A 3 Totaling 14% We are offering Gold Debenture Bonds, backed by satistactory securit: CITIES SERVICE SECURITIES Bought, Sold, Quoted THOS. W. BRAHANY & CO. Investment Securities 510-11 Evans Building ‘Washtagten, D\, C. Main 6189 “BeforeYoun Iuvest- INVESTIGATE" CHRISTMAS PRESENTS —should be things of permanent and useful value. They should re- flect the spirit of the giver. Shares in the DISTRICT GUARANTY CORPORATION —make an ideal Christmas present for someone upon Testimony showing payment by the Prairie Oil and Gas Company of cash dividends totaling 192 per cent, or $34,560,000, in the last eleven years was presented today by James E. O'Nelll, president, at the Senate manu- facturers’ committee inquiry into $100. 5500 and $1.000 do- whom you wish to confer a prices and conditions in the ofl in- nominatio earing 6% lasting benefit. They pay reg- dustry. interest, payable quar- ular quarterly dividends and terly. urchasers _of will serve as a constant re- The outstanding capital stock of the company. which produces. pufchase and markets crude ofl in Kansas, Texas, Arkansas and Oklahoma. amounted during the eleven-year peclod to $20,000,000, Mr. O'Nelll told the committee. The company last wee voted to increase its capitalisa- tion to $60.000.000, he added. Discussing the various cash divi. dend declarations, Mr. O'Nelll, in f¢ ply to questions put to him dby Gil- attorney. said they were as follows: 28 per cent, or $4.500,000, in 1912: 6 pe: or $1,080,- 000, in 1913: 18 per cent. or §2,340,000, in 1916; 20 per cent, or $3.600,000, in of the years of 1917 and 1918; 36 per cent. or $4.680.000, in 1919; $2 per cent, gr §5.760.000. in 1920; 32 per ‘cent, of 960,000, in 1921, and 23 per cent, or $4.140,000, during’ the past year. ' No cash dividends were declared in 1914 or The recent increase in capital, Mr. O'Nelll testified. was solely to capi- talize the assets of the company, which had increased Uy since 1910, when the last previous chan had been made in capitalisatien, ' No ash or property was recelved, he {d, in exchanging for the lssue of the additional stock. The Prairie Company president, in explaining the large total dividends declared since 1911, sald he wanted the committee to know that within the same perfod the corporation pald approximately 338, 100 . taxes, or within $10,000,000 of wha: the dividends amounted to. . these Bonds are given certificates entitling par- ticipation in the profits of ‘the company up to 8%—a total, you see, of 14% on your investment. ‘Well worth looking into —and our detailed circu- lar is yours for the ask- minder of your love and gen- erosity. Cash is soon spent, but a permanent income is like a fountain of good will— it goes on year after year. Take the suggestion and ar- range for the delivery of shares on Christmas day. WilliamBRWestlake c. FIJCAL AGENT 2818 S¢.. A Place to Make Safe Investments OUR First Mortgages, secured on improved Washington property, have a proven record of over a quarter of a century without a loss to any investor. Overs They are offered in amounts oi COMMODITY NEWS Q:?,’:" $250 and up, interest payable semi- WIRED STAR FROM Century annually, collected and remitted ENTIRE COUNTRY Wig;::ug by us at no expense to you. a Loss HOUSTON, December 31.—On the basis of the estimate by the Depart- ment of Agriculture, the 3,290,000 bales of cotton grown in Texas this year will mean more than $300.600,000 in new wealth to the community, not counting returns from cotton seed. Farmers today are getting s ton for seed, while mills are selling meal at $48 to $50, and hulls at $13.75 a ton. CHICAGO, December 31. — Cold weather has interfered to some ex- tent with new construction werk in this vicinty and has slowed down of building materials. ‘Work is progressing fast on partly finished structures which are under cover. ST. PAUL. December 31.—Rallreads throughout the northwest reported today a widely increased passenger trafic, with a heavy movement of Christmas visitors to Canada. MINNEAPOLIS, December 31.—Car- load shipments of furniture from the ‘Twin Citles increased 50 per cent this ye! One group of assoclation deal- ers alone sent out shipments to northwest retailers valued at more than $350,000. PITTSBURGH. December 31.—Re- Company of Fennsylvania and Fefractory Company of Ohlo have consolidated ‘into the fourth larg- st brick company in the United Statea. SACRAMENTO, December $1.—The rice outlook here is not bright. There is & large crop in the warehouses todsy and demand is small. Brokers eay the oriental crops have been heavy. NEW ORLEANS, December 31.—It is estimated today that between $3,000,000 and $10,000,000 will be spent on Christ. mas gifts in this city this year. Of this sum merchants say more than half will be for gifts of a useful nature. UNIONTOWN, Pa, December 21.— Miners who left this fleld during the strike are returning to their old 'fiml Negro workmen hmflfi from the south are leaving the distri Coke luo- tion is ahead of consumption. holi- days are expected to {nterrupt produc- on. B. F. SAUL CO. MAIN 2100. 1412 EYE ST. N.W. National Mortgage and Investment Corporation “% e Will Parchase First and Second Trust Notes Warehouse Receipts and Make Construction Loans On a Fair Basis 811 Vermont Avenue N.W. Y The Ideal Christmas Gift Whether for relative, friend or em- ploye, our First Mertgage Notes make practical and long-remembered Christ- mas gifts. The holder of these notes receives the interest on the day it is due. Unlike cash bohuses or gifts, which, at least, create an artificial and temporary con- dition of luxury, our First Mortgage Notes mean the continual possession of principal by the recipient. PG T T O e T T T NG I Nt R TN E YR E TR AN P YANKTON, 6. D., December 31.—Au- thorisation has been given for the letting of the contract for the stes] of the eu; structure of the new $1,000,000 brm spanning the Missourl river here. FARRELL, Pa., Decomber 21.—United States Steel Corporation plant today except the steel and wire mill which are running 76 per cemt. - - | TERRE, §. D., December’ $1.—South otar with a Jield oF $.000:000 o els this year, now ranks sixtesath the potato-raising states. The value ‘1:.‘ :n;:ocmp is estimated this year at CHICAGO, December 31.—Orders for spring woolens .are extremely in this section and now are rus For convenience, these Notes are of- fered in denominations of $100 and upwards. 83 Yeours Witheut Less to an Invester. expected te continue frm. e, PROTESTS POTATO RATES. Market Director Says Virginia and Maryland Are Favored. Swartzell Rheem 727 155 Street e e ot | which favor growers of New J Virginia and Maryland, HPECE FINANCIAL. B Washington's Oldest National Bank iXmas isa Good Time —to begin teaching the young the prac- tice of thrift. Start Savings Accounts for your boys and girls and let them “grow up” with the “Metropolitan.” 1 Your father, and perhaps your grand- father, were served by this century-old bank, and you're invited to make it the custodian of your children’s savings. 91 7he OLDEST National Bank in the District of Columbia invites initial savings deposits of ONE DOLLAR or more. / 39, Paid on Savings Accounts Organized in 1814 National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000.00 15th St., Opposite U. S. Treasury—108 Years Old OPEN AT 8:30 A. M. DAILY [l The Columbia National Bank | Saoons 911 F Street iy $250,000.00 $250,000.00 A Gift That Will Help That Boy Of Yours 1 To open SAVINGS ACCOUNTS for your chil- dren is to help them form practical ideas of thrift that will engender success in days to come. {] As little as ONE DOLLAR for each account will enroll them among the many patrons of “Colum- bia's" Savings Dept. Our Savings Teller will be pleased to present you with Pass Books. WE ARE PREPARED TO SUPPLY NEW GOLD AND SILVER COINS TO GO IN CHRISTMAS STOCKINGS 3% Compound Interest Paid on Savings JAMES A. MESSER, FRANK J. STRYKER, President Vice President and Cashier BENJAMIN W. GUY; ARTHUR N. MITCHELL, Vice President Assistant Cashier MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Rendall K Hagne: & C. 2207 Cnnecticat (Boance MONEY TO LOAN ON REAL ESTATE Our. LOAN DEPARTMENT is well sup- plied with funds to loan on desirable Real Estate. Immdiate Consideration Given All Applications GARDINER AND DENT, Inc. Main 4884 717 14th St. N.W. Gotallished 1889 Finol Wodgage Soans In-Convenienl: Denominalions Jor Jnweslors MONEY TO LOAN —in any Amaunts_on First Mortgages. Lowest Rates of Interest and Commission Prompt Transactions Thomas J. Fisher & _Co.,/lnc 738 15th St. N.W.