Evening Star Newspaper, January 2, 1923, Page 25

FINANCIAL. D.C.BANK DEPOSIS, SHOW AN INCREASE Coming, Statements Will Be Better Than Reports Made in September. . The expected call from the office of the controler of the currency for a statement of conditions of all national banks in the country. and from all banks in this city came this morning, the date for the statement being set at the close of business December 29. While only a few preliminary re- ports as to deposits have been re- ceived from Jocal banks, these reports indicate that there will be a general increase in deposits as compared with September 15, the date of the last call of the controller. This, too, in spite of the fact that during the interim between the Jast previous call and that of today there have been very important movements of money. Heavy Tax Payments. The fourth and last instaliment of 2 income tax payments was made December 15, while under the new tax laws one-half of the personal and real estate as well as intangible taxes of the District, save for corporations, was made payable In November, (hus withdrawing probably over $4,000.000; Individual deposits were credited a the close of business in December with probably $2.000,000 dividend lrgfl interest payments, although a sub- stantial portion of this would have been too late to show in the de- posits. Savings ‘Clubs a Factor. o One item of withdrawals which, while 4t helped business materially, pulled 000,000 or more_out of banks, was the payment of thé Christmas savings clubs moneys early in De@ember. Mu:s of this cash has naturally been returned to the banks through the merchants o the city and will aid in enlarging .the increase, which at present seems a: sured. . A complete table of deposits, showing conditions as of the call today, com-‘ pared with that or September 15, wil appear later in The Star. mpany’s Stock Imcreased. i Through action'of its board of di- rectors and. stockholders, the District Guaranty Corporation has authorized the increase of the company's stock from $250,000 to $1,250,000, effective im- mediately. Tt 1s ‘announced that the entire orig- inal issue of stock has been fully su scribed, subscriptions- amounting to more_than $100,000 having been made, largely by the old stockholders, at a stockholders’ dinner in the Franklin Square Hotel last Thursday. The company is just mailing its quarterly dividend checks for the last quarter of the year. These divi- dends are at the rate of § per cent on the preferred stock and $3 per share on the common stock. Joephs Admitted to Firm. Announcement was made today by Graham, Parsons & Co. that Dev- eraux C. Josephs had been admitted to membership in the Hfm. Mr. sephs will assume his new dutles at once. Bankers’ Conference. American and Canadlan banke will meet in conference in Montreal February 5 to discuss business and other economic questions of common interest to the Dominion and the Tnited States, according (o announce- ment just made by the American Bankers' Assoclation, which has ointed a committee on Canadian re- ations to confer with a similar com- mittee on American relations appoint- ed by the Canadian Bankers' Assocla- tion. The call_for the conference is the of action initlated at Mon- The contacts at that time between American and Canadian bankers de- veloped the feeling that there were a a number of problems affecting the two countries in the solution of which it was felt that bankers could take effective part. It was felt also that there was ‘opportunity to promote greater mutual understand- ing among the business piblic of both countries of each others' viewpoints. —_— Washington Stock Exchange SALES. Capital Traction—10 at 108, 2 at 108! Capital Traction 55—$1,500 at 96%, ? Mergenthaler—10 at 178, 5 at 178. AFTER CALL. Potomac Elec. Cons. 5s—$2,000 at 961. Wash. Rwy. 4nd Elec. pfd.—10 at 75, 10 at . 10 at at e Light—10 at 58%. Money—Call loans, 5 and 6 per ceat. BONDS Bid and Agked Prices. - PUBLIC UTILITY. Asked. Georgetown Gas 1st Metropolitan B, Potomac Elec. ist Potomac Elec. con Wash. Rwy. & Elec, Wash, Rwy. Elec. g. m. 6. MISCELLANEOUS. . C. Paper Mfg. 6s. 5 aity Gs (long] Realty bs (short). ity Stor. & Safe Dep. Market Cold Storage b n Park Hotel 6s... STOCKS . PUBLIC UTILITY. American Tel. & Telga. 3 c. Wash. Rwy. & Elec. pfd, Terminal Taxi com. Terminal Taxi pfd NATIONAL BANK. Capital - Columbi: Commerc District Farmers Federal-American Liberty . Yiineoln National Riggs . Becond % E Washington . ¢ TRUST COMPAN Ameriean Security and Trust, Continental Trus National Savings Trust. ‘Washington Loan’ and Trus SAVINGS BANK. Commerce and Savings. Fast Washington. Becurity Savings and Com.. Beventh Street. gised sEmEREE - 3 B, s83ks o8 Columbla Title. . . Real Estate Titl -. 120 MISCELLANEOUS. Received by Private Wire Direct to The Star Office. BY WILLIAM F. HEFFERMAN. NEW YORK, Jjanuary 2.—Ths Opening session of the new year was featured by a vigorous buying movement that continued through- out the first half session on the curb exchange. In' the early afternoon the market quieted down" somewhat, with reces- sions from the high levels in a num- ber of the early leaders. Oil share Wwere again prominent in the upward movement, many of them establish- ing new high records as the result of reinvestment of capital into this class of stocks. Professionals Push Olls, Professional ope their attention to this group on ex- pectations that further advances In the price of crude and refined oil will be announced in the near future. Salt Creek Producers reached a new top, and Mutual Oil was in active demand at its best prices. The advance again today in Fensland Oil was attrib: ;l;“:\:!)e!lmnxn‘ln fll'l Il:lpntllnn of the an- ent of al tion of thi - pany by Producers r:nd Renn‘e"r:cum NEW YORK, January 2.—Follow- (ng I8 & list of today's highest, lowest and closing prices for the most active bonds and stocks dealt in on the New York Stock Market Sales = S Aea” 1 Allled Py clkm X led Py 4 z 1 ¢t thern Cal Bd =S thwest Bell Ts ift & Co 7s '31 it & Co bt 23 £ mluonRueBenatioanala =2 ¥OREIGN BONDS. 8 Argentina 7s '23 % 32 Kgdm Netherlands 6s 98’ 10 Mexican Gort 6s. 14 Bwiss Gort 5% @ T 8 of Mexico Sales STANDARD OIL ISSUES. in units. 1100 Anglo-Am Oil . 1500 Atlantic Lobos % | quoted at 13 francs 55 centimes. 71 20 Engineers’ Pet 311 Federal 01l . Fensiand OI1 Rock FIE PPEEET 8285 & 2.228, obusB. 238 = ons Pet moth Oil . EL T e FRERSGRE RERR FEEG e werezrezee FEe B,B52580al AR F EE AR R ntae B} 1 Cuban Dom Sugar. 86 Dubilier, C & Radi 20 Durant Motor. 7 Durant Mot 2 Garland Steamship. .70 2 Glen Alden Coal. ercer Mot iew Fiction Pub Co 187 Y Tele Co pfd.. 110! Y Tra: ition, 28 80 -36 ”» 4 222, gEED i 3 14 gagdd & it L} oal. Cp 1pt c dp MINING. esaliuuninEalilubumata 22 o =11 ® BERRW ;o-»»aa-%‘éus : fine i A eNamara Cres ational Tin . P ators also turned | &k 23| SOUTH FACES BIG YEAR. . FACES 8! The leaders of the upward in the Standard Ol group included Standard of California, new; Standard of In- diana, Ohio Oil, the latter up § points, and Pralrie Oll and Gas at A new high record. , P was reported that Prairie Oil and had taken over the Haalett and interests, Kantsoming Ofl Com- , invelving the payment of $4,- 00. Other Stocks Go High. Buckeye Pipe Line gal: 2 points, while Mammoth Oll was active for & time on reports of the completion of a large gas well making about 30,000 feet of gas daily in the Tea Pot Dome. However, the stock went off again in the afternoon. Cities Service ared in the upward mov: n the common advancing 3 points, but sybsequently losing a good part o this gain, Rubber stocks came in for a good deal of attention in the late trading. Intercontinental Rubber and Good- year common gained ground, the buy. ing here assoclated with expectation: of increased earnings and larger out- put in the first quarter of the new year. 8 New Dominion Cop. 50 Nevada Sil Horn. 40 nd_Copper . . 70 Silver Mines of Am 10 Bpearhead Gold ... .09 Butherland Dev k Hughes . 10 Tono Cash Boy U S Contine 2 Uity Gold 88 West End Comsol.. 1 40 West End Ext.... . Outlook for 1923 Unusually Bright, Financiers Say. ATLANTA, Ga., January 2,—Opti- mism over the outiook for the new year is evidenced In every 'line of business activity represented by At- lanta institutions, and a survey of the situation finds the entire south and the nation in a much better condi- tion materially and mentally on the brink of 1923, “A survey of the past year's indus- trial and economic history strength- ens the bellef that 1923 will be a more prosperous year than 1922" is the belief of M. B. Wellborn, governor of the Federal Reserve Bank of A lanta. “Credits are very easy to ob- tain throughout the entire sixth dis- trict and most of the banks have-sepa- rate funds. The textile industry is on a very sound basis, the crops are in good ‘condition and most of the fac- torles are operating to the limit of their capacit. The southern textile mills are in better condition than since the war, according to P. E. Glenn, secretary of the Georgla Cotton Manufacturers' Association and secretary- of the Exposition cotton mills. PARIS PRICES UNSETTLED. PARIS, January 2—Prices Moved irregularly on the bourse today. Three per cent rentes, 59 francs 5 centimes. Exchange on London, 62 francs 60 centimes. Five per cent loan, 76 francs 40 centimes. The dollar was EQUITABLE Co-Operative Building Association Assets $4,408,829.00 Surplas . $1,144,464.80 Systematic Saving A plan, by using it, you can save *a little each pay day. It will amount to a goodly sum in a short_ time. Subscriptions for the 84th Issue of Stock Being Recelved Shares, $2.50 Per Monfl; EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Seey. Send for our JANUARY offering sheet —a list of good bonds for first of- the-year in- vestment. The National City STRAUS & CO., now 41 yearswithoutlossto any investor, may well be your guide in select- ing January invest- ments. Write today for our currentofferings of sound 6 and 6%% bonds, in $1000, $500 and $100 denomina- . tions, Ask for, BOOKLET 923-G Offices in ¢oClties. Established RAIN RELIEVES SOUTH. 100 Textile Mills Profit by Ending of Drought. Bpecial Dispated to The Star. / ATLANTA, -January 2.—The rains of the last two weeks have broken the drought and filled the streams of the southeast. The Southern Power Company Charlotte now Is able to furnish its patrons with hydro of five. This will mean a increase in production in more than 100 of the largest textile factories of the Carolinas. WOOL PRICES FIRM. BOSTON, January 2.—The new year opened in the Summer street wool market with a firm tone in evidence. Fine and fine medium wools were sell- ing at $1.35, scoured basis for fairly good staple wool, while really choice n aple could not be bought under $1.40. Volume of trading was not large, but this was attributed to the shortage of st - o D'd.m:no,““ rather than slack. cent. grow! difficul CAVE TO BE LARGEST COLD STORAGE PLANT Special Dispatch to The Star. MARSHALL, Ark., January 2.—The natural cave near here, which has been turned into the largest cold- storage warehouse in the world, is ex- pected to prove the salvation of fruilt in event of transportation s in the futur Pipes and alr passages regulate the flow of cold air through the great chamber. LEVY ON POLICYHOLDERS. NEW YORK, January 2.—Francls R. Stoddard, jr., state superintendent of insurance, announced yesterday he had levied upon policyholders of the Motor Car Mutual Fire Insurance Company an assessment of 53 per cent of their policy premiums and called 10 per cent of the sum for immediate payment, so that he could the affal together with costl of llguidation, are approximately $159,000. Insist Upon Being Shown ‘When it comes to choosing an investment don’t take anything for granted. Know into what you are putting vour money. That’s why First Trust Real Estate Notes are so satis- factory. You can find out all about the property covered by them. There’s no guesswork about it; no taking chances on conditions. The Bonds and the War Savings Stamps you’re cashing are not more reliable than Trust Notes upon such property as we have to offer. “Come in and have a talk with us—there’ll be no obligation. But we know we can offer you an investment with which you'll be per- fectly satisfied. Boss & Phelps “The Home of Homes” 1406 H Street Phone Main 4340 The Standqrd Investment MAN Y financiers have repeatedly stat- ed that if they were limited to a single choice of investments that choice would be First Mortgage Notes. This is a financial truth that will bear engraving deep in the minds of all—the son at college, the daughter going to the altar, and the wife when you are choos- ing a sound investment for the family nest-egg. The First Mortgage Notes we offer are safeguarded by the judgment and integrity of a company of over 53 years’ experience in the investment field. 53 Years Without Loss to an Investor. Swartzell Rheem&Hensey Co. 727 15% Street NW. electric power six days a week Instead i i 15 py Do t, ¢ basi fine 3t d 000, —_— S OWOWON S5 #5876 7707 GILTEDGE SECURITIES First Mortgage Notes Secured on Improved D. C. Real Estate Appraised by Experts of 85 Years’ Experience Without a Loss I Offered in Denominations of $250 and Up A Good Investment. WILL PURCHASE First and Second Trust Notes Warehouse Receipts, and Make Construction Loans Morgan, Livermore & Co. Members of New York Stock Exchange 823 Fifteenth St. N.W. Telephone New York Main 2790 ON FIRST MORTGAGES ° AT CURRENT RATES OF INTEREST : ___THE EVENING STAR, WASHINGTON, D. C, TUESDAY, JANUARY 2, 1923. DAAMAAAAAAAY 6 plus 8 Equals 14% These Gold Debenture Bonds bear 6% interest, payable quarterly; and carry with them a certi- ficate entitling to partici- pation in the profits of the company up to 8%. 6 plus 8 — equals which is your prospect this investment. The Bonds are in $100, ' $500 and $1,000 denomina- tions—backed by good se- curity. Our ‘Ciroular gives all s—yours upon request Commercial Loan and Finance Corporation B e it st 921 15th Street N.W, in . If you have money to invest, we can safely place it on gilt-edge.first Mortgages. Our record of 30 years insures your prétection. Courte- ous treatment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. Let us manage your Rental Prop- erty. Over a Quar- ter of a Century Experience. B. F. SAUL CO. 1412 Eye St. N.W. Main 2100 Money to Loan, Beeured by first deed of trust on real estats Prevailing interest and commission. JosephI. Weller 32 Wk & & Trunt FOR SALE FIRST TRUST NOTES 617 Interest Any Sums Required Amply Secured on New Dwellings Near 14th St. N.W. Thrift Bldg. Co. Union Trust Bldg. Main 768 FINANCIAL. Capital & Surplus, $2,000,000.00 s itk While Considering Reinvestments —make your January Dividend Checks and Interest Coupom! yield further return by de- positing them at this interest-paying bank. 247 Deposits In any amount invited—uniform rate of in. terest pald on doth small and large accounts. Savings & Trust Co. Oldest Savings Depository in Washington Corner 15th and New York Ave. National 55th Year F. W. Lafrentz & Company PUBLIC ACCOUNTANTS Colorado Building, Washington, D. C. Executive Offices, 100 Broadway, New York City The undersigned announce the formation of the above firm to continue the general practice of public accounting and auditing heretofore con- ducted by them under the name of The American Audit Company. / F. W. LAFRENTZ, C. P. A. F. LAFRENTZ, C. P. A. C. R. CRANMER. January 1, 1923. —_— S | I“ NO LOSS TO ANY INVESTOR IN 50 YEARS 11 v for Your January Funds First Mortgage Investments, secured by improved, income-producing real estate in Washington, the Nation’s Capital— Backed by our record of half a century, 1873 to 1923 —without loss to any investor— Refunds for Federal, District of Columbia or any State Tax bring the yield to practically 7%. Call, phone or write for detailed information ke F.H.SMITH CO. \ounded 1873 1414-1416 EYE STREE!‘,‘N. w. How Do You Stand Financially? HE January period is a good time to take a financial inventory. If you have no savings account, your financial organization is probably incomplete. If you have one you may not be using it to the best advantage. To be organized financially means working to a plan; it means using your income to the best advantage. A savings account is an essential part of such a plan. EVERY BANKING SERVICE COMMERCIAL 3% on savINGs 15th and Penna. Ave. Capital and Surplus, $5,400,000.00 HOME SAVINGS BRANCHES 7th and Mass. Ave. "' 8th and H Sts. N.E. 436 7th St. S.W.