Evening Star Newspaper, January 12, 1923, Page 25

.~ #igin't Susharonus E FINANCIAL. BIG AUTO MAKERS TOLEAVE NO ‘CORE Plan to Keep Whole Business Apple From Little Fellows in 1923. BY J. C. ROYLE. 1 Dispateh to The Star. NEW YORK, January sin' to be no core. New York automobile show draws a it becomes more snd more evident that the above sepresents the poliey of the big auto- yobile manufacturers for the year 1923, Automotive experts in close touch with the indistry éxpressed the opinion today that this would be a great year for the big makers, but would provide hard sledding for the little fellows. { The trade expects to market wel over 3,000,000 cars this year and the big makers are firm in’ their inten- tion to make at least that number. In consequence there will be no over- flow for the smaller makers, as there was in 1922, when large makers were unable to keep pace with deliverles and the smaller companies stepped and got the business. This ap- plies to the high priced fleld as well s to the popular priced makes. Volume Deeiding Factor. Volume is going to be the deciding profit factor. Competition will be Keen and margins narrow. Up to a certain number it costs every manufacturer more to make a car than the car is sold for. After that “pay point,” whic marks the difference bétween a profit and a loss, is reached, overhead de- creases rapidly in proportion and profits increase. The large companies are determined to produce and sell a tremendous num- ber of cars above that mark. It is a question, however, whether some of the smaller companies can attain or greail yvexceed the. number of sales which will put them o the right side of the ledzer at present prices, Ford May Cut Prices. wew furtherf price cuts are antici- pated at present. In most cases the reductions were made more to balance ap certain models than to create a new basis of competition. Automobile engineer. however, would not be surprised to see Ford make another cut If he seems deter- mined to allow no other maker to get within gunshot of his preserves. Pric vances seem about as far distant as price reductions, although there have been intimations that Dodge Brothers have given some roundabout indications of such a possibility. In the fall, however, a number of ad- vances may be expected if the upward trend of material and labor continues. Avoiding Price-Cutting War-Pleases Auto Men Speciai Dispatch to The Star. DETROIT, January 12-—The auto- mobile fraternity is breathing easier today as they see the premier auto- mobile event of the season. the New b close As the to York automobile show, drawing to a| close without price-cutting having developed a competition between manufacturers. There is a general feeling here that this fallure of pr hostilities to develop should prove decided fonic to the industry. There was a note of quiet optimism among the executives who have re- turned from New York for the outlook this year, but a conviction that 1923 was goIng to be a final test for some of the weaker companies also was to be detected. Southern Banks Joining Fight Upon Boll Weevil Bpecial Dispateh to The Star: ABLANTA. January 12.—Southern country banks which entered the new year with- good surpluses today are offering to buy calcium arsenate, the chemical used in fighting the boll weevil and sell it to the farmers at cost. The Georgla public service ,commis- sion today cited the carriers to re- duce: the freight rate on the weevil Poison 50 per cent, and every business ‘and commercial agency Is making ef- forts fo bring about a reduction in the price of the chermcal. Columbus, Ga., and Spartanburg, S. , are understood to be making over- fures to the Dunlap Tire and Rubber Company for the location of southern tire fabric mills which the Dunlap Company plans to establish this year at a cost of $10,000,000. The Dunlap Company now is_preparing to open fabric plants at Utica, N. Y., and tire factories at Buffalo. Weather Halts Building; Men Quickly Get Jobs Special Dispatch to The Star. PHILADELPHIA, January 12.—Cur- tailment of building operations in this section because of inclement weather has released a large number of work- ers to other industries. The auto body manufacturers especially have benefited, one plant increasing its force from 1,600 to 2,200 in late weeks. Another body factory has 3,700 at work today, the largest number since 1920. One maker of commercial trucks is planning an increased em- vloyment of 756 per cent. (Copsright, 1923) R WOOL PRICES HIGHER. BOSTON, January 12—The Com mercial Bulletin tomorrow will say: “The wool market has been fairly active this week, both here and abroad, and prices have shown a strong up- ward tendency. Values are slightly higher in this market on the whole. Advances of 5 per cent were recorded In_Sydney at the resumption of the sales there and further advances are rgported in South America. Predic- tions are that the London sales open- fne January 23 will also show higher prices for all descriptions. e SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) —Noon.— Bid. Offer. 1033 1058 983, 1031y 1014 115% a Aluminum Co. of Amer. Aluminum Co. of Amer. American American Sugar Gs 19 American Tel, & Tel American Tal. & Tel Xunconda Copper By 192 Asacdnda Copper 75 1920001111 Ahglo-American_O1} Tlgx 16; Armour & Co. Bethlehem S Canadian Pacific 66 19: Gentral Leather 5w 1 : €., C., C. & St. L. 6s 1929, i Pont Tas 1981... (oodyear T. & R. 85 103 tireat Nortiiern 75 1936, Hockiog Valler 65 1924, Morris & Penna. R. K. 8t. Paul Unlon Dep: ars, Roebuck & Co. Sonfhwestern Rell 7x 1925.... .. 1 8tandard Oil of Calif. 7s 1031.. Tuewager Ol 6% 1981, Lnion Tank Car 7s-1930, Vacuum Oil 7s 1936 Western Union s 193¢ . ‘Westinghouse E. 7s 1081.. 107 Copper Export “A™ Ss 1924, called for pay- meat at 101, Febramry 16, 0 Copper Export . . called for pay- ment at 102, February 15. —_—————— TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) Rate—Maturity— » March 15, 1923, June 15, 1923..... . s Beptember 15, i633 s June 15, 1024 ... Beptember 15,1924 16 101 1310 s March 15, 1925. . lu)% 1009-18 99! 100 918 b, | per 1b., 83 1 | September Grain, Produce and' Live Stock LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, selected candled, ber dozen, 43; average receipts, 40; southern, 40. Cold stotage eggs, 28a30. Live poultry—Roosters, per Ib., 15; turkeys, per ib., 35a40; spring chick- ens, per lb., 30a32; keats, young, each, 60; fowls, each, 26a27 Dressed poultry—Fresh-killed spring ghickens, per Ib., 35a38; hens, per Ib. 25a30; roosters, per Ib., 18; turkeys, per ., 45a50; keats, young, eagh, 70a80. Live stock—Calves, choice, per Ib., 14; medium, per Ib., 13a13%; thin, per Tb, 6ad. Lambs, choice, per Ib. 13 llve pigs, 3.00a8.00 each: live hogs. _Green fruits—Apples, per bbl, 1.75 a7.00; Delicious, No. 1, per bbl., 6.00a 50. California oranges. per crate, 6.00a6.00; Florida. 4.00a5.00. Lemons. rer box, 3.50a4.50. Grapefruit, 3.00a 4.00. Tangerines, 3.50a4.50. Vegetables—Potatoes, per bbl 1.50a2.00; per sack, 2.00a2.25 2, 50a1.00. Sweet potatces, North Carolina, 75a1.50; nearby, 2.0082.50. Lettuce, per. crate, southern, 2.00a 3.00. Romaine lettuce, per crate, 50a 125, Iceberg lettuce, per crate, 4.25 450, Cabbage, northern, 1.75a2.00 per 100 1bs.; nearby cabbage, per bbl 1.26a2.25; southern, 2.25a2.50 per basket. Egeplants, per crate, 2.30a5.00. Toma- toes, per box, Florida, 2.50a5.00. Beans, 2.00a4.00 per basket. eas, 3.00a5.00 per basket. Peppers, per crate, Florl 2.50n3.50. Kale, per barrel,’ 1.50al. Spinach, per barrel, 2.00a2.75. per dozen, 1.00a1.35; California, crate, 8.00a8.50. California grapes, per crate, 3.00a4.00. GRAIN AND PROVISIONS. BALTIMORE, January 12 (Special). Potatoes. white, 100 pounds, 50a1.2] 150 pounds, sweets, barrel, 00a2.00: bushel, basket, 25a vams, barrel. .00; bushel, 50 a75. beans, bushel, 2.50a3.50; beets, bushel. 75a85: brocoli, bushel, 30a40; brussels sprouts, quart, 20a2>; cab- bage, ton, 20.00a25.00: savoy, bushel, 90a1.00; carrots, basket, 50a60; cauli- flower, crate, 1.50a2.00: celery, 100. 6.00a8.00: cukes, crate, 3.00a6.00; egg- plant, crate, 4.00a6.00; horseradish, bushel, 3.00a4.00: kale, bushel. 30a40: lettuce. crate. 2.00a4.50; onions, 100 pounds, 1.50a3.35: oysterplants, 100, 6.0048.00; parsnips, bushel, 1.10al peas, bushel, 3.0044.00; peppers, crate, 1.50a3.00; spinach, bushel, 75a1.00; squash, crate, 3.00a4.00; tomatoes, crate, 2.00a4.50; turnips, basket, 60a7 Apples, packed, barrel, 2.00a5.01 bushel, 50a1.50; 1oose, 100 pounds, 1.40 a1.65; basket, 40a60; cranberries, bar- rel, 10.00a12.00; grapefruit, box, 2.50a 2.75; oranges, box, 3.25a3.75; strawber- ries. quart. 40a50; tangerines, one-half strap, 2.25a3.00. Selling Prices at 12130, Wheat—No. 1 red winter, spot. no quotations: No. 2 red winter, spot, 1.34%; No. 3 red winter, spot, 1o quo- tation 0. 2 red winter, garlicky, 1.331 . 3 red winter, garlicky, no quotations; January, 1.33%. Sales—Nore. Corn—Cob corn, new, 4.00 per bar- rel; contract, spot. 8414 per bushel: No, 2 corn, spot. 85%: No. 4, no quota- tions; track corn, yellow, No. 3, new or _better, 8615 and 87 per bushel. Sales—None . Oats—White, No. 2, 541 per bushel 0. 3, 54. Nearby, 85295 per bushel; No. 2 western export, spot. 1.00% per bushel: No. 3, no quotations. Hay——Receipts, 36 tons; market for top grade of timothy and light clover mixed. 16.00a20.00 per ton, and for 800d mixed. 16.Q0a:7.50. 0. 1' tangled 1 wheat, 11.00a 00213.00. TODAY'S CHICAGO PRICES. CHICAGO, January 12.—Profit tak- ing sales, together with an absence of sustained buying, tended to depress the wheat market today during the early dealings. An advance in Liver- pool quotations was without effect here, being taken as a reflection of vesterday’s advance in America. War possibilities in Europe and continued dry weather in the domestic winter wheat belt were apparently regarded as having also been discounted for the time being. The opening, which varied from unchanged figures to S lower, with May. 1.20% to 1.20% and July 1.12% to 1.131, was followed by a little rally and then by downturns jlower than before. Corn and oats declined with wheat, despite falling off in arrivals of corn here. After opening unchanged to 34 lower, May 72%, the corn market hardened a trifle and then underwent a decided sag. Oats started unchanged to % low- er. May, 458 to 45%, and later showed a moderate general setback. Provisions were steady, owing to lack of any special selling pressure. WHOEAT— Open. High. May ¥ July . September ... 1 No. rye, 15.00a 80; No. 1 Close. July September PORK—Nominal. LARD— T DAIRY PRODUCTS. BALTIMORE, January 12 (Spe- cial).—Live poultry—Turkeys, pound, 35a43; old toms, 32a33; poor and crooked breasts, 30; spring chickens, 27a28; poor and leghorns, 20a24; old hens, '24a27; small_and leghorns, 19a 22; old roosters, 15a16; ducks, 18a28; geese, 20a27; pigeons, pair, 30a35 guinea fowl, ‘each, 35a70. Dressed poultry—Turkeys, 35a42; old toms, 34a35; poor and crooked breasts, 30; young chickens, 25a27; old and mixed, 24a25; old roosters, 17a18; ducks, 25a30; geese, 24a30. Eggs—Loss off, native and nearby firsts, dozen, 42; southern, 40. Butter—Creamery, fancy, pound, 56a56; prints, 55457; nearby creamery, 46a50; ladles, 35a36; rolls, 33a35; store ‘packed, 31a32; dairy prints, 34a 35; process butter, 41a42. CHICAGO LIVE STOCK MARKET. CHICAGO, January 12 (United States Department of Agriculture).— Hogs—Recelpts, 45,000 head; slow, 5 to 10 cents lower: bulk 150 to 190 pound averages, 8.60a8.70; top, 8.75; bulk 230 to 275 pound butchers, 8.40a 8.45; bulk packing sows, 7.40a7.85; de- sirable 100 to 110 pound pigs, around 8.00; heavy hogs, 8.25a8.45; medium, 8.40a8.60; light, 8.55a8,75; light lights, 8.50a8.75; packing sows, smooth, 7.60a 8.00; packing sows, rough, 7.25a7.65; killing pigs, 8.00a8.25. Cattle—Receipts, 7,000; fairly active, uneven; generally ' steady on all classes except veal calves; feeders largely 25c lower; spots more: top light steers, 11.00; several loads around 10.00; bulk beef steers, 8.25a 9.75; bulk vealers to packers, 10.00a 10.50; few selections upward to 11.00; most’ heavy desirable bologna bulls, 5.0085.25. Sheep—Receipts, 10,000; fairly ac- tive, generally steady; early top fat lambs, 15.00 to packers; desirable clipped fed lambs, 12.75; choice 90- pound fed yearlings wethers, 12.75; one load 68-pound feeding lambs, 14.75; sheep around steady; heavy fat owes, 5.50a6.50; lighter weight quo- table up to 8.50. ————— WALL STREET NOTES. $7,500,000 Corporation Formed. Stocks Ex-Dividend. Special Dispatch to The Star. NEW YORK, January 12.—The American Cottor Fabric Corporation of Boston has been incorporated there with $7,600,000 capital. Union Steam and Mohawk Valley Cotton Mills stockholders will hold a special meeting January 24 to yote on increasing capital stock to §10,- 000,000 and issuance of & stock divi- dend’ of 40 per cent. Ex-dividend today: Art Metals Con- Products, Union struction, _Sterlin & urne-Sei n'er m’ uarterly oday: lifornia 2 S Sy ‘exas Bag and Paper, L Packl TDO! Sambustion Engi osiery Mills, T o, No. | phetd _THE -EVENING RIGGS BANK PLANS FOR DUPONT OFFICE New Building to Be Model of Kind—More Bank Of- ficers Named. 1 Announcement of plans for the erec- tion of its new Dupont Circle branch was made at the dirgetors’ meeting of the Riggs National Bank yesterday. The structure, which will occupy for- ty-four feet on Connecticut avenue and forty-seven feet on Massachusetts ave- nue, and which when completed Will cost approximately $225,000, is to be two stories high, and as the alley be- tween it and the residence now oceupied by Judge Lamar has been dedicated to the project, a most advantageous site will be enjoyed by the occupants. be simflar to that of the m: the Riggs company and the Mount Pleasant branch, at 14th street and Park L.road. with the main entrance to the bank on the Massachuséits avenue side. It is the present intention of the \ building committee in charge, headed by Robert V. Fleming, vice president and cashier of Riggs Bank, to open three stgres on the Conecticut avenue side of the building. Second Floor for Offices. With a private entrance on Massa- chusetts avenue. the floor above the nking room will be reached. This will be arranged to suit the needs of physicians, for whom the entire floor will be fitted for office The lobby of the banking room will be 16x29 feet. with special facllities for ladies, a closed off drawing room for their use being placed in close | proximity to those tellers who will attend to the woman's department Safe-deposit boxes will be installed and every facility for the accom- modation of commercial _customer: will be lcoked after in detall. Th building s so designed as to ‘meet the exnected growth of the section and there will be little trouble in converting the eptire first floor into banking quarterd Work on the structure will start simultaneously with that to be done by Charles W. Semmes, wlio will erect a new home for the Dodge car on the corner. Both buildings will be similar in architecture. G. F. Rainev. now branch manager of the Dupont Circle office, will be in charge o@the new bank when com- pleted. George F. Ray is architect and the Charles H. Tompkins Com- pany has charge of the construction. It is expected the building will be ready for occupancy about Septem- ver 1 Lincoln National fon. At the organization of the directors of the Lincoln National Bank held | vesterday the following officers were elected to serve for the ensuing vear Floyd E. Davis, president; Dana Lincoln, vice president; Albert . Gatley.' vice president and cashie John W. Brawner, vice president; W McK. Stowell, assistant cashier; Everett Baird and H. E. Wilson, sistant cashiers; J. Frank Rice, man- ager of saving 'deposits; William M Harris. auditor; George Francis Wil- liams. counsel: W. W. Miller, assist- ant counsel. and Henry T. Offter- dinger, secrétary of the board. Dividends Declare, At the directors’ meeting of the Washington Loan and_Trust Com- pany Wednesday the 122d quarterly dividend of 2'; per cent and an extra dividend of 3 per cent declared. Books will close for transfer from January 22 to February 1, both dates inclusiv Seventh Street Savings. At the annual shareholders’ meeting of the Seventh Street Savings Bank, held Tuesday, the following directors were named to serve for the ensuing year: S. R. Waters, Henry G. Berg- ling, Dr. W. Thompson Burch, Charles W. Fairfax, Isadore Freund, John W. Gregg, Harry Kaufman Michaei {O'Hanion, Isaac Ottenberg. Rodger O'Hanlon, John D. Howard, Alex- lander H. Plitt, August H. Plugge, Henry J. Ruppert, Charles S. Shreve, jr.; Patrick Shugrue, Joseph B. Thom- as, John F. Meyricl John R. Wright, John J. Kolb, John A. Schaefer and | | Willoughby S. Chesley. { John D.” Howard, who has been cashler since the bank organized in 1812, was the only new member added to the board. The new board organ- ized immediately | tollowing officers: ters, president; August vice president: Harry Kaufman, vice president; John D. Howard. cashier Elmer O'Hara, assistant cashler, and {Charles S. Shreve, jr.. counsel. 1] Citizens’ Savings Bank. ! The annual stockholders' meeting of {the Citizens’ Savings Bank was held at Alexandria, Va. on when the following directors were re-elected for the ensuing year: { L. E. Breuninger, James A. Bailey, [A. P. Clarke, jr.; Fred Drew, O. R Evans, Holland W. Jenks, Homer L. | i ! Somerset R. Wa- H, Plugge. Kitt, Mrs. Jeannie Kafka, R. =. C. Murray, John F. Murrell, R. L. euhauser. Miss _Mary O'Toole, Fernand Petit, John W. Price, Thomas Somerville, Lewis M. Thayer, F. L. Wagner, Dr. John E. Walsh, Willlam D. y;'as'., George E. Walker and D. V. Chisholm. Three new names were added to the board, Dr. Noble P. Barnes, Horace G. Smithy and Jack Sommerville. The new board met in the bank following the meeting of stockNolders, and these officers were re-elected L. E. Breuninger, president; Wil- liam D. West, vice president; R. L. Neuhauser, vice president; . L. Lamb, vice president; C. C. Murray, president; Fernand Petit, cashier- secretary, and Ralph M. Wolfe, ast sistant -cashier. National Capital Bank. At the shareholders’ meeting of the National Caplital Bank of Washington, fheld Tuesday, the following were elected directors for 1923: Albert Carry, Allen C. Clark, Clar- ence F. Donohoe, John B. Earnshaw, Samuel C. Eberly, Lewis Flemer, W. P. C. Hazen, August G. Herrmann, 3 A. Simpson, Samuel H. Walker, chael A. Weller and John C. Yost. The board organized yesterday and elecfed thesp to office: H. H. McKee, president; Albert Car- ry. vice president; S. H. Walker, vice presidents S. G. Eberly, vice president; H. C. Stewart, cashier; D, D. Wallker, assistant cashier. A. L B. Dance Tonight. The advanced class ,of the local chapter, American Institute of Bank- ing, will hold an informal dance to- night, at the chapter’'s rooms. Music .will be provided by an improvised orchestra composed of musicians of the class, while Messrs. King -and David will present a vaudeville en- tertainment. The entire affair is in charge of C. F. Schatz, and will statt at 8 o'clock. ' Magazine Editor in Town. Richard D. Wyckoff, editor of the Magazine of Wall Street, with Mrs. ‘Wyckoff, is in Washington for a brief stay, and Is stopping at the Hotel Hamilton. ‘Washington's Growth. In a letter to its 1,200 stockholders in the United States, the International Bank, with offices at 807 15th street, includes the following paragraph: “The remarkable growth of Wash- ington during the past year has giv- en us a vision of what the Capital city will be a few years hence. Wa ington is now headquarters for more than one hundred and twenty national and intérnational organizations. It has become recognized as oné of the great commercial cities of America. ‘While building activities in many oth- er citles are decreasing, the construc- tlon program at our National Capital approximates $50,000,000 during the current year.” The O’tlmm shows that as- sets the bank g.u compared with $4 ’ Jul 0 as, 51 cen Sl M- 52000 Tncluding stock e h-“h::nm& and re-elected the | Wednesday, ! L. Lamb, | vice | \in The architecture of tite new bank Will | Sates in ain home of { thousands. ! cotams | Nortolk . NEW YORK CURB MARKET ‘Received by Private Wire BY WILLIAM F. HEFFERNAN. NEW YORK, January*12.—The buy- ing movement on the curb exchange today was not as vigorous as on pre- vious days of the week. After an early display of strength realizing sales in midafternoon increased and brought about something of & reac- on, ! The market was best characterized as & specialty market. Durant Issues reacted in the afternoon after estab- lishing new highs. Stutz Motors was again actively bought. The campaign this stock appears -to be based more than anything else upon the fact that dominant interests in the Stutz company are the same as those who have made such a success during the last year and a half in Studebaker. Rubber Stocks Active. Recent improvement in the outside rubber market was responsible for speculative activity in rubber and Ll P NEW YORK, January 12.—Follow- ing is a list of today's highest, lowest Direct to The Star Office. tire stocks. The ‘urther advanee in crude rubber, bringing the price up to 32 cents, with offerings*very scarce, was reported. Intercontinental Rubber opened almost a point higher and con- tinued to move ahead, while Goodyear common was more active, slightly un- der 11. % Standard of Kentucky sold up to a new high at 95, a gain of over 13 | points this week. Later, however, it fell back to around the close of Thursday. Standard Oil of Ohio lost 5 points on very few sales. Glen Alden Coal Gal Pool operations kept on in Glen Alden Coul and this stock gained a boint. Fortune Mining was in active demand again and reached its best prices for the present mov!men‘t. and Columbia Emerald and Ohio Copper | were others of the low-priced mem- bers of the mining group to gain ground. American Rolling Machines prefer- red was removed from trading FOREI( Argentina *24 N BONDS. and closing prices for the most active bonds and stocks dealt in on the New York Curb Market: BONDS, High R M ... 100 & Flee 6x. 971 Tob s 3% T 65 "24.. 24 1% l&% 0 101 Ame: 3 Anaconda’ 7x 0 Armour & Co 7 & ur_of Del & WSS rhoard 8u Steel Steel . & Muine 6. Ry Equip 7% oy Con Textiles 8s Cop Expott 8s '24.. Deere & (0 Ths. Det City Gas 6a Det Edis Dunlop T R ... Fed Land Bauk 415 3 Gen Asphalt S Gult “oil . Hood er Ta. . ter R T Hs of dep an Pow Lt ds. 1 Kennecott Cop 7n Laciede Gax s 8 Louisville 1 Morris & o 6 Nut Clonk & 1 Nationa! 7 Nat Acme 7 o “Power n Power & Lt bw. 1a_Co 8 < 1001 1018 10y 101 1087 063 1008 105 1083, 1011 05 011 0533 e Bl Swift & Co wift & oil um’ Oil voline Ok Washington Stock Exchange Washington Gas Light—10 at 591 American Security and Trust Co.—1 at 283, 5 at 245 Rteal FEstate Title Tnsuranee Co.—3 at 120, 10 at 1203 AFTER CALL. Capital Traction—10 at 103%; Poto ;| "ons. B Totomac Mone; 5 and 6 per cent. BONDS Bid and Asked Prices. PUBLIC UTILITY. Bid. o 102 9 116 A e A% el ba.. 9715 b American Yol & Telga. #a.... American Tel & Telga. 435, Am. Tel-& Tel. cfi. 17, Amer. Tel. & Tel. conv Anacostia and Poiomac Anacostia and Potomae Chesapeake & Patomac & P Telephone of Va. Capital Traction It Cify and Suburban 3 Georsetown Gas 1ut 55, Metropolitan . Tt 5s. Potomae Elee. 1at S5 Potomac Eiectric cons. 3 Potomac Elec. deb. Potomac Elec. Pow. &. Pot. Elee. Pow. g m Waih., Alex. & Mt . Alex. & Mit. Ver Sh. Balt & Annap. ds.. shington Gas Su.... siington Gax Tows. & Elec i Sh. Ruy. & Flec. g m Ga. 99% MISCELLANEOUS. r Mg Ga.. ity Bs (long)....... 5 (short): Klornge & Safe i Kt Cold Storage s.. Wardian Fark Hotel 06.,. STOCKS PUBLIC UTILITY. American Tel. & Telga.. Capital Traction. Washington Ga Wash. § Wash. Rwy. & Elee. com Wash. Rwr. & Elec. pfd Terminal Taxi com... Terminal Taxi Dfd.... NATIONAL BANK, & ref. Capital . Columbis Gommereial District . o Farmers and Mechanics’ Féderal-Amerlcan ... Taberty ; Lincol National Riggs. Second Washington TRUST COMPANY. American Security & rust.. Continental Trust.... Merchants' B Kations] Savings Gnion Trust Weshington Loan snd ‘Trust SAVINGS BAN mmerce and Sevings. t Washjigton g A ey Bieinn snd Com... Seventh Street......... Tnited States Saving: Washington Mechanict FIRE INSURANCE. 285 90 127 cor E American Corcoran .. Firemen's National Union. TITLE INS tambla Title.. . ... Soal " Eatate Titie... MISCELLANEOUS. (iraphophene. ... . Commbia Graphophoae Walter H. Marlow, jr.; Henry H. Mc- | Merchants’ Transfer & St { Kee, James L. Parsons, jr.; Willlam | Mer enthaler Linotype. Oia teh Market com. 0la Dutch Market pfd. Lanston Monotype. jecurity Storage ..a Weabington Market YeHow Cab...... *Ex-dividend. ing the past three years, according to the annyal report. The annual meeting of the banlk wiil be held at its-offices February 1, at 8 o'clock p.m. Thomas Elected Vice Preal George C. Taylor, president of thé American Express Company, Inc., ah- nounced today that at a meeting of the board of directors Willlam J. Thomas was elpcted & Vice president of the compal and has been ap- pointed director general In charge of Dperations of the company in Europe and the near east. Mr. Thomas' head- Qquarters will be in Paris. New Armour Company P Following the sale within forty- eight hours of $60,000,000 of Armour Co. (Delaware) stock, bankers im- & Crately fawued $50.000,000 worth of the new company's bonds, and by 11 o'clock Monday, the day of the offer- fng. the books were closed, with the bonds many times oversubsoribed ‘Segregation of important masets of Armour &Co. of Tilinols, In the pones- sion ‘of the Delaware company, % understood to be only one step con- templated in a program which In- volves an entirely new set up 8o far as Armour interests in general are concerned. Mr.. Armour now plans to make Armour & Co. a national institution Father than a private business. The rolfln “business, . formerly dentified with certain famill aou 1&;’; t:- Ml{ct‘ of Mr, A.rmuur‘. zed on a basis that n iled public King of Mexican Govt 6a Republic of Peru 8. Ruksian_Gov_ef 5%s 10 Swiss Govt Bys..... 1087 U S of Mexico 45... 38% Stlesiu STANDARD OIL ISSUES. units, A8 200 Anglo Am 0 100 Atlantic Lobos .1 85 Ruckese P L. 100 Crescent P L. 25 Rureka P L. L1051 200 P L.... . 168% 335 Imp_Oil of Can.. 113 40 Tnd P L........... 9% Tt Pet Co Lad. s Magnolis Pet. . Nat_ Transit. ... NY Transit..... Northern P L...... Olio Ofl new H Prairie O1l & Gas. Penn Mex Prairie I L. Southern P L., 0 Tnd ex div. S 0 Ky new ex div .18% 91 .43y 800 350 100 408 0 Ohio.... 35 & W Penn P T 6000 Vacuun OIl new. . Sales 11 INDEPENDENT OTL hundreds. Ark Nat Gan Roston Wyo 01l Carib Synd Cit Serv pfd City Sers pra T Latin Amer Ofl . Towrs Ol Mammorh it 7100 Marland 011 Maraeaibo 01 . Merritt 01, Mex Engle Mex 01 Moantain Producers it Creek new Sapuipa Refin South States 0l -xon 0l & Land Turman 0il x 0ii & Gax o Aee Conl Acme Pac Alum Mfg. Amal Leather it of Del Bri-Am _Tob . STAR, WASHINGTON, D. C., FRIDAY, JANUARY 12, 1923. MORGAN’S BID BEST FOR $50,000,000 LOAN Cuban Government Expected to Ac- cept New York Firm’s Offer. Other Bidders. By the Associated Press. HAVANA, January 12.—1J. P. Morgan & . Co of New York city sub- mitted today the most advantageous bid for the thirty-year exterior Cuban loan of 350,000,000 at 5% per cent, of- fering 99.77. Speyer and Company of New York, with an offer of 93.57, and Lee Higginson & Co. of 'Bos- nd New York. with a bid of per cent, were the only other rs, Acceptation of the highest bid to be made immediately by presidential de- cree is expected to be followed within a few days by receipt of a sub- stantial portion of the loan to meet the government's most pressing needs. Spectacles were invented in the thirteenth century. = If you have money to invest, we can safely place it on gilt-edge first D. C. Mortgages. Our record of 30 years insures your protection. 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. NW. Main 2100 “BeforeYon Invest. INVESTIGATE" There are more auditors and accountants upon the list of District Guaranty Corporation stockholders than any other calling. Why do you suppose so many of these experts choose it for their own investments? If vyou want advice, ask the man who knows. WilliamB.Westlake FISCAL AGENT i D.C. Brocklyn City Rudds Nyds Chicago Nipple ¥ Cash Dubilier € & Rad.. Durant Motar Drrant Mot of ‘Tnd. Flelsciimann Hayes Wheel.... Hexden Chemical.. Hudson & Man R R Hud & Man pfd. Tndut Fibre vot ¢ Intl Shoe. Lehigh Pow e Lupton F M... 3 Marlin Arms Mercer Motar Mercer Mot vot cfs Tron Sup ‘e Pub Co rp Mot te . Radto_Corp péd Ttep Tire & Lub Reo Mot 5 Seuite Stores So O & L. Standard Motor Stutz Motor ... Borift & Co. Technical. Technicolor Ine w i Tenn Elee Power... Timken Axle new.. Tob Frod Exp Trlangle Fim.. Tntd Pft Shar new. Untd Ret Cands... U 8 Lt & Heat U § Lt & Ht pfd. . Ctd Ket Ca Fo Sh. United 8hoe Mach. Ttah Idaho Sugar.. Wayne Oselda Peerlesc er 1313 10 o 8.« o [T MI Ariz Globe . Rig Ledge .. Boston & Moni Calaveras a Copper Canario Copper . Candelaria Min Columbla Emera Contipental 5 Con (bp Min tem ¢f Cons Nev Utab ... Cracker Jack Mine. ortez Silver | Cresson_Gold Dean Cons 2¥3 Divide Extension Dryden Gold ...... Eureka Croesis ... Fortuna Mines .. . Goldfieil Cons .0 - Goldtield Deep Mine Goldfield Fiorence.. Gotdfield Oro Hardshell Min Harmill Div ... Hill Top Fev Hecla Mine i 30 Independence Tead. .33 Jerome Develop Lone Star .. Ohlo Cop Ray Hercuies Tnc.. Red Hill Florence.. -Rex Cons ........ Richmond Copper . Siiver Mines Amer. 10 30 80 10 50 Spe + 18 Succesn Mines .. 18 Teck Hughes 19 Tonopah Divide .. 10 Tonopah Extens 10 Tono Jim DButler. l’;l ~ll!‘lt..£. 222077 First Mortgage Notes Invest your savings in our first mortgage notes, bearing 64% interest and secured on approved northwest property. First trust notes carefully secured on Washington Real Estate are the safest invest- ments you can make. We have on hand notes in denominations of $250, $500, $1,000 and $2,000. MOORE & HILL (I~c.) 1420 H St. N.W. Over 22 Years Without Loss to an Investor i MORTGAGE MONEY, o0 hand 1o loun on real evtate. RRELL Woodward midg. EQUITABLE Co-Operative Building ciation Organized 1879 43d4 YEAR COMPLETED Asnsets” - - . 84,657,959.50 Surplus - $1,180,880,31 Systematic Saving ‘A plan to make saving easy— Save a little each pay day and you will be surprised at the amount accumulated in a short time. Subscriptions for the 84th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. President FRANK P. REESIDE, Seey. HE exact profit & Tuolumne 28 Unjted Ba 30 U8 Continental 8 Unity Gold 5 West End Consol 10 West End Ext . 4 Yukon Goid ... STOCK MELONS IN 1922. rfiEW*\'onK, January 12.—Stock dividends in 1522 totaled $1,484,107, 719, The movement is not yet over, but ft is unlikely the total in 1923 will exceed that of 1922. About two- thirds of total stock dividends last year wero confined to Standard Oil companies, notably -Standard Oil of New Jernoy, with $393,353,200; Stand- wrd Ol of New York, $1560,000,00 Htandard Oil of Indiana, $107,360,455, :;v:\"lulunduvd Oll of California, $100, PARIS MARKET HEAVY. PARIH, January 12 — Prices were heavy on the bourse today. Thrde per cent rentes, 58 francs 30 centimes. Exchange on don, 66 francs 65 centimes. lve per eent loan, 76: franecs’ 25 T SPhe doilaf was quotéd st 14 frar c ¥ ok o e e, or loss incurred under the Revenue Act of 1921 on se- curities disposed of in 1922 requires careful computation. ' OQur circular just published discussing this matter with great thoroughness will be mailed on request. l | { i 1 FINANCIAL. $5,000 Life Pol cy; $43.85 A Mo R B rearence ATl Braches Room €10. Weodward Building M. 340, LOANS From £100 to $300 on D. C. real estate and household goods or chi tels. 7 per cent interest. No bro- kerage charged mmercial Loan & Finance Corporations Room 211, 921 15th St. N.W. Main 5672 Money to Loan | Secured by firat deed of trust on real estate ‘ Prevailing foterest and_commission. Joseph I. Weller 29 Wesh. . & Tromt FIRST MORTGAGE NOTES FoRr SALE IN DENOMINATIONS OF S00 DOLLARS ANFR UPWARDS %fm{z// Y/ ‘7@723)‘ 7 . 207 %/meclt’cw/ %rme 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 sure method for the inexperienced investor. Consult Qur Loan Department SHANNON - & LUCHS 713 14th Street Washington’s Oldest National Bank Years of Usefulness —to the public have ripened the e: perience of this bank, magnified its prestige. multiplied its friends. 1 Venerable as it is in years, the Metro- politan is vigorously conducted, and keeps pace with the most progressive methods of modern banking. You'll value a connection, such as we offer: General Banking. Savings. Safe Deposit Boxes Trust Dept., Bond Dept., Travelers Checks 3%, Paid on Savings Accounts National Metropolitan Bank Organized ¢n 1814 e ZE Capital, Surplus & Undivided Profits Over $1,700,000.00 15th St., Opposite U. S. Treasury—109 Years Old Dean, Onativia & Co. Stock Exchange Building New York COTTON GRAINS COFFEE SUGAR STOCKS and BONDS MEMBERS: New York Stock Exchange N. Y. Cotton Exchange i 5 Chicago Board of Trade Chicago Stock Exchange N. Y. Produce Exchange Associate Members of | Assc : Minneapolis Chamber of New York Curb Association Commerce WASHINGTON OFFICE Main Floor, Woodward Building Phone Main 2040 JOHN CALLAN O'LAUGHLIN CHARLES R. ALLEY Ass'stant Manager “YOUR NVEST SAVINGS HETHER you have $100, $500, $1,000 or more to invest, investi- gate our First Mortgage Loans on Wash- ington Homes before placing your funds. NEVER A LOSS Our conservative business methods “have so perfectly protected and safe- guarded the funds of our investors that not a single client has ever lost a dollar of principal or interest on any invest- ment purchased through us. Send for Selected List We will be pleased to send you full information concerning our, first mort- gages and our methods of handling them. 6%% and 7% Interest Convenient Denominations Call, Phone or Write for It 'WILLIAM S. PHILLIPS First Mortgage Investments 1409 New York Ave. Main 4600 " =