Evening Star Newspaper, December 28, 1922, Page 25

SECOND NATIONAL | * ENIOYS GOOD YEAR Directors Order Regular and Extra Dividend—No Loss- Taking Sales. . BY I A. FLEMIN U The Sccond Natlonal Bank has en- Joved @ most prosperous year during oy and in celebration thereof the * directors yesterday afternoon declar- ed the rezular semi-annual dividend of 3 per cent and ordered an extra distribution of 1 per cent, payable J v 1 % attended to the matter of ds the directors then ordered £10.000 transferred from undivided profits to surplus, making, in all i that has been added to the during the year. r this the employes were con- sidered and the usual bonus of the on and adjustment of sal- s was ordered. During the year the Second National passed its fiftieth anniversary and started after the century mark. going stronger and stronger ery da 1ts uptown offfice was the surprise of the year, secord only to the Federal- American merger, No Loss-Taking Selling. * One feature of previous years, for some time tifat will not be a factor this week will be the loss-taking lquidation of ‘operators on Wall strect and other markets. This has been a year of gains in all markets, gains that would have made themselves very heavily felt in the increased income taxes but for the fact that those who have made the gains are still trailing along with a bull market, figuring that they will not have to make settiements with the government until 1824 Important Interests have enormous profits on the buving side of Baldwin, American Can, Stude- Daker and other stocks that have e Joyed a phenomenal rise from the N Jow figures of last 2 A year ago the loss-taking sales were somet s enormous, and the losses 1 Al made made seriou: oads into the revenue of the Treasury Department. There will be a few losers in the crowd of winners, but these have very generally got from under during the break. The profit side has be able ) securitis in the wher b ovember has not have been r will not figure as a chile the profit-maker will have much more income tax to pay un- Yess he, too, stays in the game into 192 Franklin Uptown Branch. It is probable that the controller of the curre: will issue the permit the movemen! yortant, th 80 the lo factor here for the Frink tional Bank to open a branch otfice at 1111 Connecti- cut avenue saturday, as the appli- cation w placed on file Decem- ber 21. Morgan, Livermore & Co., 71 Broad- way, New York, h: at 823 15th strect, immediately over the office of Crane, ris & Co. The compa < private wire con- nection with pondents of the home office, including Faris. J. H. Spear is manager of the ne Local Securities. Midholiday dulln on the local excl » opened an office was dominant e, nor is there any chance of ity until after the 1st of January. eature of the dull day was nce of Railway common to a new high; several odd lots sold at that price. C 5s brought 9%, and curity and Trust, 254, Other sales were unimportant. General Business. The Credit Clearing House Asso- efation _reports business for the week ended December 25 4.5 per cent better than the previous week and 6 per cent greater t a year ago. while ceded the 1920 loml‘ 1 ‘apital Traction American Se- the turnover ex by 12.2 per cent, while the payments for purchases were 1.1 per cent bet- ter than for that vear. This tells a plain story, one that every one believes. AFTER CALL. American Security and Trust Co.—10 at 28413, 8 at 2841, BONDS Bid and Asked Prices. PUBLIC UTILITY. American Tel. & T Asked. 2 105 #9 116% Metropolitan Potomn, Potomac Elec. Pow. g. m. 6% Clec. Pow. g m. & ref. . Alex. & M. 5 L Alex. & Mr. Ralt, & Ar shington Washington Wash. Rwy. Wash. Rwr. Elec, ¥ Riggs Realty Riges Realty T Market Cold St . e otet e STOCKS i PUBLIC UTILITY. ! *Terminal | Terminal Taxi. pfi... 530 180 200 TRUST COMP American Security and Trust Continental Trust Ns s x and Trust. Tolon Trost ......... Washington Loun and Trust... SAV BANK. Commieree and Savings Fast Wash Hecurtty Beventh Street S . S. Suvings Bank . ‘Washington Mechanics' : FIRE INSURANCE. ¢ American Fire Insurance Torcoran Fire Ins: 2 National Union Fire Insu TITLE INSURAN <olumbia Title Tnsurance . Real Estate Title Insurance. MISCELLANEOUS. Columbla Graphophone com. ‘olumbia Graphophone pfd. . C. Paper pfd Qerchants” Trans. and’ Storage. 2100 Mergenthaler Linotype. Old Duteh Market com. 0ld Dutch Market pfd Lanston Monotype. Security Storage. Washington SAN FRANCISCO, Calif., December .28.—Some Australian onions are being imported here as the blg storage here has been depleted. Off grade stocks are finding a ready market today and there has been a general stiffening o ‘ wrices on eastern shipments, FINANCIAL. NEW YORK BY WILLIAM F. HEFFERNAN. NEW XORK, December 28.—Opera- tions were extremely divided in to- day’'s trading on the Curb Exchange. The market continued active and it was evident that it was being called upon to absorb heavy realizing sales, especially in the oils and in- dustrials. Except in the cases of Standard of Kentucky and Standard of Indiana, the Standard Oil groups| were offered freely, with the result that losses ranging from a half point to three points were general. Ofl Stocks Are Active. Independent oil stocks moved with the Standards. Mammoth OIl and Cities Service common went higher in the first half session, but came off with the rest of the list in the after- noon. The results of the speclal meeting for the purpose of voting on the Increase in the authorized com- mon stock of Citles Service appar- ently had been discounted. | Announcement of an advance in tire | prices by United States: Rubber, effec- | tive after the first of the new year, served to bring about active trading NEW YORK, December 28—Fol- lowing is a list of today's highest, lowest and closing prices for the most active bonds and stocks dealt In on the New York Curb Market: Sales in thousands. 8 Allied Packers s cfs 3 Allied Packers 8s. BONDS. High. 54 80 1084 L1057y 1 Beth Steel Reth Steel Tx un Nat Ry o3 .. 3 Can Pacitic 6 1 Col Graph 8s g trat. Pt Col Graph partiy Con Gas Baito ; Balt 3 15 Con Gas Bait 1 Con Textiles 1 Deere & 10 Detroit Cf Detrot E S Dunlop T 1 Gen Asphalt & 3 Grand Trank 6 1 Guit 0il 10 Gulf Oil of Pa Gs. 2 Hocking Valley 6 11 Hood Kubber 7 Inter R T 7%. Int R T S« ofs Kan City . 1 Shawsheen 7s . 1 Sheff Farms 6148 58, 2 Swift & Co 8§ Swift & C 1 Tidal Usage aited O Prod 1083, 107% 3 p 14 Russ 1 Russ 23 Russ 13 Rus: 10 Russ 10 Swiss Gos Slas inav 20T 8 of Mexico 45.. 397 Salesin STANDARD OIL ISSUES. units, 2200 Anglo-Am Oil ..... 200 Anglo-Am Cor 8 Afr 1300 Atlantic Lobos ... 1 Atlantic Lobos pfd. exe P 108, 01, .50 I 120 llinofs B, L . 595 Imp Oil of Ca 100 Indiana P L 2200 Inter Pet Co. Ltd 100 National Transit 25 N Y Transit . 30 Northern P L 30 Prairle 08 & &0 Southern Penn 60 Southern P L . 2200 S O Calif new ... 11100 INDEPENDENT OIL STOCKS. in hundreds. 2 Boston Wro Oil 23 Carib Synd 4 Cit Serv . 2 Cit Serv 5 Cit Serv 1 Columbia Sy in_this class of stocks, 10 Cushing _Pel 60 Engineers’ Pet 10 Ertel Ol Federal Oil (e liland 0il en Rock Ofl. Granada O Gulf 0il of Pa Hudson Oil. 1¢ 16 Kevstone R Kirby Pet Latin Ame: 11 Livingston Pet. 3 Lowry Ofl. §5 Mammoth Oil 8 Marland . 9 Maracaibo " Oil 6 M rritt_Oil. 23 Mexican_0il 15 Monnt Prod. 3 New Mex Lan 34 3 400 Noble Ofl & Gas... . .25 4 New Eng Fuel 4 1 26 Omar OIl & Gas.. 8 Mutual Oil. Pennock Oil. . 10 Red Bank Ol 50 Rsan Con. Son States Oil. Texon il & Lan Texon Kas Ofl Turman 0il Yulean Oil . ® Wilcox Oll ‘& Ga 0 Y Ol ... &l o™ | fi"‘ .08 | THE EVE CURB MARKET Received by Private Wire Direct to The Star Office. but price changes generally were fractional. Inter- continental Rubber gained s half point, while Goodyear common and preferred were practically unchanged. Despite the strength of the motor group on the stock exchange. Durant issues failed to make up the losses of the previous day, and pool operations in both the Delaware and Indiana shares seemed to have been suspended, at least for the time being. Hayes Wheel, which became active in the previous sesslon on announce- ment that the company is about to take over the Imperial Wheel Com- pany at Flint, Mich., was neglected. A block of 1,000 shares of Cleveland Motors changed hands at 31. Induxtrials Go Higher. Other industrial shares remained active, but price changes were not im- portant, save in one or two issues of the type of Amalgamated Leather, up almost a point between sales, and Gil- lette Safety Razor, up three points to a new high for the present movement. The rather disturbing news from abroad to the effect that part of the British fleet had been ordered to Con- stantinople failed to have any ma- terial effect, NDUSTRIALS. 122 Acme Coal Y 150 Acme Pack 5 1 Alum Mfg v 2 5 Amal Leather ...0 157 1l 7 Arnold Con Co w 1. 20 19% % Berden Jals 114 2 Rrit-Am. Tob C'eou 20 197 5 Rklyn City R R.. k4 Buddy Ruds ...... 1 Car_Light . 1y Cent Terean 1% ple . 3% Cont “Can_new. a0y Cleveland Motor 31 Curtiss Aero ...... 5 Cutan Dom € Bug 61 Dubilier C & Radio 473 Durant Mot ...... »3 Durant Mot of ‘ind 20 Federal Telegraph. . 6% ardner Motor. 17 Gillette Saf Kazor, Glen Alden Coal Goods Govdy Heyden Chen 3 1 Hudson & Man K R Huil Switeh... Intl Cont Rubbe & L New Onelda Peerless 5 Phoentx Ho Pyrene Mfg. Radlo Cor, Radio Corp pf 3 Repetti Candy. 8 C & I. ndard Mot . ‘hnicolor Ine w 1 Technicolor Prod 8 Tob Prod Exports ‘Todd Ship Unit Pft S| Unit Retall Candy U 8 Lt & Heat.... U S Lt & Heat pfd. TS Metal Wayne Coal ...... 2 Yale & Towne new Willys Corp 1st pfd 5 C1at pofd Winthers Motor M1 1 Alaska Brit-Colo .. Arizona Globe Cop. . Relcher Ex‘ens Big Ledge . Bison Gold C& 1 Canario_Copp Candelaria Min Columbla Emes 8 Continental Mines. 1 Con Cop M temp cfs 3 Cons Nev Utah... . Cork Province Min . Cortez_Silver & Cresson_Gold . Davis Daly 3 Dryden Gold . El Salvador Eureka Croesus . Forty-nine Mine First Nat Cop . Fortuna Mines . Goldfeld Cons Goldfield Develop oldfield 1) Mines. oldfleld Florence. reen Monster. Hardshell Min . Hedley Gold Hill Top Neva Hollinger Independence Le Tron_ Blossom Koox Divide . Lone Star Ta Rose Min . Mason Val . rah Mines ational Tin Nipissing Ohio Copper & > Ray Hercules 1 Richmond Copper Rochester Silver 5 Rubs Rand_ Mine torm Kendall, .02 02 flver Mines of Am (19 .18 10 Silver King of Ariz .03 .03 20 Simon Silver . 30 30 3% 3 0 07 08 o8 8 83 Tonopah Cash 20 iz 70 Tonopah Divide. JCTT) 3 Tonopah Extens! 3y, 3y 10 oTnopah Mi Bt 15 Tuotumne ) United % 1w 1% United_Verde % 2 ;& U 8 Continental... .19~ .18 .19 West End Comsol... 1% 1& 1% 10 West End Con Ext. .08 .08 .08 10 West Utah........ 14 10 .14 STOCK MELON VOTED. Cumberland Pipe Line Company Joins 100 Per Cent Class. WINCHESTER, Ky., December 28. —Stockholders of the Cumberland Pipe Line Company, with offices in ‘Winchester and at Ofl City, Pa. at a special_meeting here today voted a stock dividend of 100 per cent and increased the capital stock from $1,500,000 to $3,000,000. PARIS BOURSE FIRM. PARIS, December 28.—Prices were firm on the bourse today. Three per cent rentes, 58 francs 95 centimes. Exchange on London, 64 francs 40 centimes. Five per cent loan, 76 francs 70 centimes. The dollar was quoted at 13 francs 901z centimes. “Will My Money Be Safe?” Whatever investment you are thinking of buying, the question, “Will my money be safe?” should be uppermost in your mind. But why have any question about it? There is one form of security you know is safe—First Mortgage Real Estate Loans. Investigate our First Mortgage Loans before vou invest—you incur no obligation. 6%% and 7% Interest Convenient Denominations Call or Write for Complete Information WILLIAM S. PHILLIPS Realtor Main 4600 1409 N. Y. Ave. ROADS REPORT EARNINGS. B. & 0, N. & W, and Southern Make Monthly Statements. Baltimore and Ohlo reports for No- vember: Gross, increase $3,942,956; balance after taxes, increase $2,06 268; net operating income, Increase $1,617,472; eleven months’ gross, de- crease $3,223,746; balance after taxes, increase $482,301; net operating in- come, decrease $1.603,845. Norfolk and Western reports for November: Gross, increase $228,38 deflcit after taxes, increase $1, g;;- net operating deficit, increase $2,- Southern Rallway Company prom- ises to earn approximately $4 a share on 1,200,000 shares common stock this year. On basis of operations in first six months earnings available for common_indicated better than $6 -a share. However, as shopmen’s strike and coal strike progressed it appear- ed that road would do well to show $3. Rapid recovery from effect of those strikes, with attendant increase in net onerallnz‘lm-ome, is indicative of what Southerfi can be expected to GILTEDGE SECURITIES First Mortgage Notes G STAR, WASHINGTON, D. C, THURSDAY, DECEMBER 28, 1922. Secured on Improved D. C. Real Estate Offered in Appraised by Experts of 35 Years’ Experience Without a Loss Denominations of $250 and Up A Good Investment. WILL PURCHASE First and Second Trust Notes Warehouse Receipts, and Make Construction Loans do_under normal operating conditions. Vice President Bracken of Chicago, Burlington and Quincy has placed an crder with Baldwin Locomotive Works for sixty fast freight locomotives of latest type for spring delivery, valued at approximately §3,180,000. The Interstate Commerce Commis- sfon has ordered general investiga- tion concerning adequacy of locomo tives and cars used by each of ra roads. It will also Inquire into eu: toms and practices prevailing or de- sirable with respect to the ownership, use and Interchange of cars, with view to promoting economical and efficient service, and as to requiring carrlers to provide themselves with safe and adequate locomotives and cars. NEW ISSUES ALLOWED. I. C. C. Gives Chicago Great West- ern Financing Rights. Permission was granted the Chicago Great Western rallroad today by the Interstate Commerce Commission to issue $10,206,000 in 4 per cent first mortage bonds and $3,580.000 in pre- |, ferred stock. The railroad proposes to use the new securities in acquiring an outstanding issue of $12,000,000 in 4 per cent bonds of the Mason City and Fort Dodge railroad, which is a subsidiary of the Great Western. BANKERS SEE GOOD TIMES. CHICAGO, Ill, December 28 (Spe- cial).—Business conditions in the middle west today are good, and promise constant improvement, ac- cording to bankers here. Time Capital, $250,000.00 OPEN AT 8:30 A.M. DAILY The Coluinbia National Bank 911 F Street Xmas Checks Make Excellent Surplus, $250,000.00 Savings Account Starters q Start your ‘“opportunity account” with the beginning of the New Year. We've a Passbook ready and want to serve YOU. 3% Compound Interest Paid on Savings JAMES A. MESSER President BENJAMIN W. GUY Vice President q Xmas Cash and Checks ought not be spent thoughtlessly. counts in this helpful bank and persistently added to each PAY DAY they’ll finance investments or other worthy objects, giving you a good hold on success. Made the basis of Savings Ac- FRANK J. STRYKER ident and Cashier ARTHUR N. MITCHELL Assistant bringing a better adjustment between prices of farm products and manu- factured goods. although the former are still at a disadvantage. Foreign trade revival is aiding to correct this. There is ample money for solvent bor- rowers at low rate. —_———— PHILADELPHIA, December 28— The shortage of anthracite coal in this section is being slowly overcome, and big coal retailers here sald t day that another week of miid weath- er would see sufficlent coal on hand for all needs. [ — A locomotive engineer who is also a keen naturalist asserts that the crow frequents railways more than any other bird Money to Loan Secured by first deed of trust on' real estate. Prevailing interest and_commisaion. Joseph 1. Weller {2 Wash. L & ormt Coal Coal? Coal? N%m OL Coal? I have a limited number of Used Heaters e fn | Wil install and give | Col. 1648, Day or Night * A Protected Investment When you cash your Victory Bonds and War Savings Stamps in a few days you’ll want to put the money where it’ll be surely safe. Nothing equals a First Mortgage on Wash- ington Real Estate. There are booms and de- pressions in other cities—but there is a stabil- ity to Washington that makes its realty solid as a rock. We can place this money for you, to the best advantage, upon some of the most desirable pieces of improved property in the National Capital. What they are—we shall be glad to take up with you in person. BOSS & PHELPS 1406 H Street We Recommend For Investment American Smelting and Refining First Mortgage 5% Bonds (A) due April 1, 1947 Brier Hill Steel Co. The Home of Homes Phone Main 4340 Yielding about 5.60% First and Closed Mortgage 51% % Bonds due Oct. 1, 1942 5.75% B. F. Goodrich Co. First Mortgage 614 % Bonds due July 1, 1947 6.37% Gulf Qil Corporation of Pennsylvania 15-Year Debenture 5% Bonds due December 1, 1937 5.30% *City of Cleveland, Ohio, School District 4Y5% Bonds due Sept. 1, 1925-1938 *City of Memphis, Tenn. 4% Bonds due May 1, 1933 *City of New York 41% % Bonds due July 1, 1967 *State of Oregon 414 % Bonds due April and October 1, 1933-1950 *Gov't of Philippine Islands 414 % Bonds due July 15, 1952 #City of Richmond, Va. 414 % Bonds due July 1, 1957 *State of South Dakota 434% Bonds due November 15, 1942 *City of Superior, Wis. 414 % Bonds due September 1, 1933-1942 4.25% 4.30% 4.15% 4.20% 4.63% 4.25% 4.40% 4.25% ‘humat_-Excmp} From All Federal Income Taxes We offer these bonds subject to prior sale and change in price. quest. Detailed information will be furnished on re- Guaranty Company of New York 811 Fifteenth Street N. W. Washington, D. C. Main Office: Guaranty Trust Company Build 140 Bmlflwny.lnN‘ew York Telephone: Main | 823 Fifteenth St. N.W. FINANCIAL. REPUBLIC OF CUBA Request of Bids for a Loan of $50,000,000, in Gold Currency of the United States of Ame! Congress ot the Republic of Cuba having by lawful legislative enactment duly authorized the President of the Republic to: issue and, sell External Loan Gold Bonds of the Republic in an amount not to exceed $50,000,000. Pursuant to such authority notice is hereby bids will be received by the Secretary of the Tre at his Office, in the city of Havana, on the 12th day from 9 to 10 A.M. for the purchase of these bonds. A briet description of the security, sinking fund, maturity, and other provisions to be contained in the contract to be made by the successful bidder with the Republic, is set forth in an Executive Order of the undersigned, coples of which may be obtained at the Treasury Department at Havana, Cuba, or at the Cuban Consulates in the citles of New York, Boston, Chicago, P'hiladelphiu, Baltimore, San Francisco and New Orleans,—U. S. A No bids will be considered unless enclosed in a sealed envelops addressed to the Secretary of the Treasury. Havana, Cuba, accom- panied by a certified check in the amount of $500.000, drawn on Bank or Trust Company, of Cuba or of the United States, with good credit Checks of unsuccessful bidders will be returned forthwith to the respective bidders, Havana, Cuba, December 18th, M. DESPAIGNE, Secretary of the Treasury. given that sealed sury of the Republic of January, 19, 1922, ALFREDO ZAYAS, President. Gotablished 1889 Fest ffllodgage Loans In Conwenient: $Denominations For Jnwestors . I Rust %Zzfleeufi Street NMain 6388 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randal K agne: & Ca. 1207 Grnecticat (Brenue q — ~ Morgan, Livermore & Co Members of New York Stock Exchange Telephone Main 2790 New York Paris MONEY TO LOAN any Amounts on First Mortgages. Lowest Rates of Interest and Commission Prompt Transactions Thomas J. Fisher & Co., Inc. 738 15th St. N.W. Your Investment Responsibility F you invest in our First Mortgage Notes, secured on improved Washing- ton property, your financial responsibility will be greatly lessened. Our experience, our tireless investigation are behind them. During over half a century not one investor has incurred a loss through our First Mortgages. We specialize in them. They are part of the actual closed first morfgage on a specific parcel of property. Interest is paid semi-annually and on the day it becomes due. 53 Years Without Loss to an Investor. Swartzell Rheem& HenseyCo. 727 15% Street NW. e e