Evening Star Newspaper, January 15, 1923, Page 25

o= av gm&n|mnuumnmmmmmmmmmmmmmmmmmuflmmnmnmnmmmmmmfimmg FINANCIAL. FINANCIAL. TREASURY NOTES THE EVENING STAR, WASHINGTON, D. C., $5,000 Life Policy, $43.85 NEW YORK CURB MARKET Jo. Beud dute of birth fur Ulustration, Recéived by Private Wire Direct to The Star Office. MONDAY, JANUARY 15, 1923. | a LOANS From $100 to $300 on D. C. resl e and household goods or chat- 7 per cent Interest. No bro- charged. i be needed to equip them. Assuming ‘wo-thirds of new cars are imme- diately equipped with spares would mean adding 2,000,000 more tires to our estimate, bringing It up to 14,- 000,000. o) A ¥ over.§200,000,000 M. LE ROY GOFF zohes Room 610, Money to Loan $1 Will Open a Savings Account. Open at 8:30 A.M. Dally The Columbia National Bank BY WILLIAM ¥. HEFFERNAN. scrip dividends were other notable | exceptions to the selling. | NEW YORK, January 15.—Trading | “X[5 S0 0% i ire Went higher in | ARE LKLY TAREN . New $300,000,000 Issue Is Already Oversubscribed by About $200,000,000. Becretary Mellon yesterday an-| nounced that the latest Treasury offering of $300.000.000 in 41z per cent notes, maturing December had been oversubscribed by 0.000,000. The resuits of the described as “entirely Treasury \ Yabout § offering were satisfactory.” The usual first-of-the-year rein- vestment demands appear to have accounted for the heavy oversub- scription, but figures available showed. it was said, that the bulk of | amount offered had been taken aller investors. Approximately 000,000 originally ~ offered was red in subscriptions of less than $100,000, which is unusual in the sale of such securities, according to official Although the by the subscription books | closed Saturday night. the Treasury nouncement said that unregistered r savings certificates of the 1918 fes und 4 per cent and 1% per cent tory notes, maturing in May. still will be accepted in exchange for the new notes up to the close of business today. This time limit includes ex- change subscriptions actually in the mails at that time. By the flotation of at this time. the Treasury be required to issue fn any form for seve helieved. Heavy exchanges in both 1918 war savings certificates and victory notes into this issue of notes and previous short-ter permit sufficient halance in the Treasury quirements for government The next public debt is due \ coineident with the of the vear's taxes Nationnl Savings and Trust Company. There will he no changes in directorate or officers of the National Savings and Trust Company at the annual shareholders’ meeting, to be held late today. according to officials of the institution, will be added to the list of directors Tmmedi, following the election board will orzaniz present roster of the 1927 notes will not 1 months, it is ‘ to remain cash in running the ent on the which is nterest Iy ors the stall the old board Tude Wor re- William Tam Yuidekoper Charles Mins on the curb exchange was active to- | the early dealings, but came off with securities | securities | to_meet current re- | but several names | lair, | o} & day. The market opened firm, and for | & time stocks continued their upward | movement. But after the first hour | or realizing sales became gen- | eral, resulting in a reversal of the tendency, and the greater part of | the list fell below the Saturday clos- | ing shortly after noon. so, Ol Shares Cause Reaction, Heavy offerings of oil shares brought about a reaction in Standard | Ol of Kentucky, Prairie Ol and Gas, Vacuum Oil, new, and others! that have been prominent in the re- cent campalgn. | Reports that Gulf O1 Corporation had completed its No. 8 well at Tanchiquen, flowing 500 barrels at | 1.760 feet. failed to stimulate buying, but the stock hold firm while the rest of this group were inclined to drop. | City Service issues, selling ex the NEW YORK, January 15.—Follow ing 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 BONDS. thonsands, Hign. 3 Allied Packers 8s. 81 10 Amer R. M. fr.. Am Gas' & Elec Low. K3l 1001 Am Repub Corp 6a 12Am T & T s # Anaconda 8s. # Anaconds 7 83 Armour & Co 85 Armour of Del St 1 Reaver Prodrs 17 Reth' Steel 6 Reth Ktcel 6 Can’ 3 1 Cit Serv 7a D 10 Con Gas Bal 65 1 Con Textiles 8x. 1 Copper Exp %x 4 Copper Exp 8s '2 1 Cuban Tel 7 3 Deere & Co 3 Det (it 15 Detroit 10315 100 101% 41 Louis G } Manitaba Prod Tx Nat_Leather 8s..... NY & st 2 Ohio Pow 1 Penn P 1 Phila_ 11 Pub Ser hawsheen 7s 3 Sheff Farms 61 H to continue to serv, Willlam 1. Hoover, ibury Blair, first vice pre: k W. S Frank : Charles C Sercival W Ullmer, & Bruce Bai #nd David ficer. According compiled In tetson, trust Lamborn, treasurer: on, secretary; Frank sistant trust officer: sistant trust officer. 1et, assistant trust of- to the bank’s answer to the last call of the controller, December 29, 1922, the deposits of the institution totaled $9.029.094.79, and $9.946,890.00 on Jan- wary 1.1 The number of depo + ors on the same date totaled 11, « The bank’'s total resours close of business December amounted to $1 612,01, The (. & P. of Baltimore. The Chesapeake and Potomac phoue Company of Baltimore ¢ uay is forwarding the third div payment on the 7 per cent cumulative | preferred stock of the company. Many holders of this stock live in or near this city In an a report. ympanying letter. Presi dent A Berry calls attention to the fact that approximately $2.500,000 will be expended for additional plant sary for new business during year. These addition: 11 ma- enhance the of the ithe terially earning capacity. Comparative statements of earnings of the company follow Operating Operating expeny Net revenues $1,260.000 116,000 $1,370,000 04,000 95,000 Operating _income Non-operating revenies. . Total gross income d taneous deductions. st deductions. not income Deduct dividends.. Fain 560,640 for surpius... ~Washington Stock Exchange | s Rw ington Ga, Natjonal Rank American Necurits Lainston Mountype 2 at 265, 9% —$2.000 at 90, $500 at 990. ational_Hank—10 at 185, Tet 582,000 at Washington Market Co.—10 40. 10 at 40, 10 ar 30,10 at 40, 10 at 10, 10'at 40, 18 at 40, Washington Rwy. com.—100 at 69. Tnfon Trint ¢ Capital Traction .« Money—Call loans, & ner cent BONDS Bid and Asked Prices. PUBLIC UTILITY. Bid. 92 1011 Asked. American Tel. & Telga. 4= Americau Tel. & Teiga. 435s. Am. Tel. & Tel. ctl. tr. American Tel. & Tel, fa and Potom: tia and Potoma ake & Poto . Telephone of V. pital Traction R. R. City and Suburban Georgetown Gax 1st Metropolitan R. R. by Potomac Elec. 1st bs, MISCELLANEOUS. . C. Paper Mfg. 6s.. Realty o8 (long Realty 5s (short). Becurity Storage & Safe Dep. 6s. ‘Wash. Mkt. Cold Storage ‘Wardman Park Hotel 6s....... STOCKS PUBLIC UTILITY. merican Tel. & Telga. 7 Teaction ‘Washington_Gas. Norfolk & Wash. 5 Srave Wash. Rwy. & Elee. com. Wash. Rwy. & Elec. ptd. 6% Terminal Taxi com Svece Terminal Texi Dfd. NATIONAL BANK. R ret Piotriet ‘armers ‘and Mechanics’ TRUST COMPANY. American Becurity & Trust.. Continental Trust. Merchants' Bank. tional Savings and Trust. SAVINGS BANK! Commerce and Baviest vice | of. | wift & Co Tnl 01l Pro Vacuum 0il FOREIGN rgentina 7s dom of lista Ry 7s. tepublic of Peru’ 8x. 11 Repub of Poiand 63 46 3 Ruswian Gov Blos cfs 101y 4 Swiss Govt Sias.... 103% STANDARD OIL ISSUES Am Off ... 18% 18t te Lohos 5 3 BONDS rip Oil of i L A ) Inter Pet Co Ltd.. Magoolia Pet 10 South Penn Oil 40 Southern P L . 15000 § 0 Ind ex div 0800 Vacuum Ofl new.. 473 Sales in INDEPENDENT OIL, 8TOC] hundreds, 1 Ark Nat Gas 8 Boston Wyo 011 1 Carib Synd. 1 City Serv .. 1 City Serv pfd > Columbia Pet . 89 Creole Sny 50 Engineers P 244 Federal Ol 1 iw 4y Hudson 0il . 90 Kerstone Ranger Kirby Pet . & Latin Amer 01l # Livingston Pet owry Ol Lyoos Pet Mammoth Marland . 13 Maracaibo Ol 20 Morritt Ofl 138 Mex Oil.. 3 Mount Drod 108 Mutual Oi 1 N England 10 New Mex 1 Novle 0il & Northwest 0il 34 Omar Ol & Gi on 3 100 it Y 174 SEE 4 Ryan Con. 3 Balt Ck Co FEFEE 3 Savoy OIl. .. 15 Seaboard Oil. 40 Simms Pet 130 Southern P & R. 15 Sou States Oil. H anttane RenelDanew ‘. 5= Fr F STREE FaE CEH B * T Ban Acme Pack. Amal Leather pfd. Am Writiog Paper.. Arnold Cont Co w 1. = Ruads Buds . 5 SZmmisa e 881 5L FEE FE FERE Dubilier C & Radio Durant Mot . Durant Mot o Federal Telegraph. Fleischmann & Co. Gardner EB oo EFEFEFFE qu»;. B0 oo 82 28R » Haves Wheel. Hud & Man R 3% 10 Industrial Fibre. 9% Inter Contl Rub. D% Intl Shoe Cc L3 Lake Tor Boat pfd. % % Lehigh Power sec. » 18 Marlin Arms. B Mercer Motor. a: 3 58 12% 12 i 2 El hd 3 2 18% .34 2% sale Sl utluana 8 Philip Morri 2 Phoenix_Hoslery. 3 Pyrene Ml 26 Radio Corp. 21 Radio Corp 5 Repetti Candy. 8 Reo’ Motor BRCET.. 62 Stutz Motor 1 8wift Inul . 2 Technical Prod East Washiog Security Bavin Seventh Street. United States ‘Waslington Mechanies. Coreoran .. Firemen's National Unio o TITLE INSURANCE. Columbla Title.. s Real Estate Titie. us MISCELLANEOQUS, Columbla Graphophone com.. Columhia Graphophome pfd. Merchaots’ Transter & St Mergenthaler Linotype. 0ld Dutch Market co 0ld Dutch Market pfd oty Storuge.: urity Btorake Yassingioe arket. low . “Ex-dividend | the rest of the market as the day | went on. Realizing sales were heavy | in the Indiana shares, but the decline here was confined within a point. | Durant of Indiana is convertible into Durant of Delaware, the parent com- pan on the basis of one share for three of Indiana, on and after August 1, 1924, The recent buying was based ! on rumors that this date of convef- | sion might possibly be set ahead. | Stutz Motor at New High. Stutz Motor made a new high for| | the present movement, selling at 24, but later on I a good part of the gain. The early strength of the stock was more or less associated with the offering this morning_of the new $1.000,000 fifteen-vear 715 per cent | convertible debenture bonds. These bonds are exchangeable for the stock ! on the basis of thirty-three shares of the latter for each $1,000 bond. i Amalgamated Leather stocks were again very strong, their advance ac- companying a similar rise in leather | securities on the stock exchange. | Winthers Mo MINING. Alaska Brit-Colo Arizona Globe Big Ledze . Riwon 5 Hoston Cale Min! 3 Continental Mines. Can Cop Min tp ofs Con Nev U c Cortez_Stiver Cresson Gold Dean ¢ Divide Dolores Dryden 1 Sulva Afield ~ Cons. . oldfield Develop.. . Min.. Top Nevada Hecla Mine.. JumboExt Kere Lake.. ational Ti New Cornelis. ... ew Dom Cop. Nevada Ophir Nevada Si1 Horn OhioCop. il Smith Mine Simon. Siiver Spearhead Stewart Mi 3 Tonopah Fuolumne . TUnited Eastern. . TS Continental West Consol West Fad Ext. White Caps... COMMODITY NEW § WIRED 1R FROM ENTIRE COU f CLEVELAND, January 15.—One of | the motor manufacturing plants here ! has just made public a system by which it has been able to double its capacity without adding to its build- | ings or floor space. This was done | by use of convevor machinery and has raised production from forty to| eighty cars a day. PHILADELPHIA, Pa., January 15.— Shipments of lumber by all-water | route from the Pacific coast are about | double today what they were at this |'time last year and would be even heavier if there were adequate ship capacity. A large amount of lumber | trom the south is arriving by coast- wise vessels, and the rail movement from this port to interior points is heavy. PITTSBURGH, January 15.—Hot- I house vegetable products are reach- ing the market in good volume toda They. with southern produce, arc¢ holding steady, prices limiting de- | mand. KANSAS CITY, January 15—The International Cément Corporation will spend $1.000.000 in enlarging the plant of the Bonner Portland Cement | Company at Bonner Springs, Kas.,| which the company just purchased, according to an announcement today. WYNDOTTE, Okla., January 15.— The Texas Pacific Coal and Oil Com- pany, a Fort Worth, Tex., corpora- tion. has started work on a $1,000,000 | refinery here. CHICAGO, Railroad buying of steel is very heavy at pres- | ent, after a short lull. Orders for 12,616 freight cars have been placed here within the last week and the demand for steel from automobile makers, farm implement manufactur- ers and builders continues. SHARON. Pa., January 15.—Contin- uous operation of United States Steel plants in the Shenango valley is prac- tically assured for the first quarter by orders already booked. With the! exception of the American Steel and ‘Wire, all mills are operating. Inde- pendént mills are on normal sched- ules. AMARILLO, Tex., January 15.—The Fort Worth and Denver railroad is ordering a quantity of new equi ment as a result of improved condi- tions in the Panhandle of Texas. About five hundred new box cars just delivered will be in service by Feb- ruary 1. PHILADELPHIA, Pa., January 15 —Manufacturers in the Philadelphia district expect to turn out from twen- ty to thirty million dollars’ worth of shirts during the current year. Prices are firm because of the high cost of cotton and of labor. SAN FRANCISCO, January 15.—One of the Dbig intercoastal steamship lines has just started a survey of the state to locate and contract for 400.- 000 tons of rult and vegetables, which ‘will be shipped to New York by water. It is planned to ship six thousand tons a week. TIRE DEMANDS FOR 1923 PLACED AT 40,000,000 NEW YORK, January 15.—The Wall Street Journal today says: An executive of a large rubber company estimates that about 40,000,- 000 tires will be needed in. 193 to keep America’s fleet of motor cars properly “shos Estimates of tire consumption in 1922 of 36,000,000 ca: ings tally closely with figures gather- ed by the Rubber Assoclation of America, the officlal organization of rubber manufacturers. Estimate of consumption in 1923 depends, to & considerable extent, on | production of new cars. If the .1I of 3,000,000 new cars is reached, obvi- ously at least 12,000,000 new tires will N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N EQUITABLE Co-Operative Building Association [ Organized 1879 | 434 YEAR COMPLETED I Annets $4,657,050.50 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. ptions for the Sul 84th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F 5t. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Seey. 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. R 2 e First Mortgage Notes Invest your savings in our first mortgage notes, bearing 6%% 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 (vo.) 1420 H St. N.W. Over 22 Years Without Loss to an Investor MORTGAGE MONEY, ©0p hand to loan on real estate. JARRELL Wegims “When Seeking” Investments Consider First—Safety. Second—Your return. rate of IF —this advice were consistently adhered to and investors con- fined themselves to such staple securities First Mortgage Notes —there would be no cause for such fabulous losses as are reported yearly. We recommend only to our clients such securities as have stood the test of vears, with not the loss of a single penny. We have amount of up to $1,000. Chas. D. Sager 923 Fifteenth Street N.W. Main 36 Loan Department hand_only a limited % and 7, notes of 280 Becured by first deed of trust on real estate | Prevailing ioterest and_commission., Joseph I. Weller {9 Wesh L. & Trost & mmercial Lasn & Finanos Corporation Room 211, 921 15th Bt. N.W. n 5672 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 Our Loan Department SHANNON - & LUCHS 713 14th Street FIRST MORTGAGE NOTES For ALE IN DENOMINATIONS OF SO0 DOLLARS AND UPWARDS Rondatt T Hopner %o 7207 %mwc/téa/ %zm INVEST This Booklet Will Help You Place Your Money Safely funds. YOUR 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 NEVER A LOSS Qur 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. 7 16%% and 7% Interest Call, Phone or Write for It b ~ WILLIAM S. Convenient Denominations PHILLIPS First Mortgage Investments 1409 New York Ave. Main 4600 Afltflmugh You Save But Small Amounts "Tis REGULARITY that Counts 'A.\[OI\'G the thousands of people who deposit here, the ones who are making the most progress are those who make it a rule to save something every time they get paid —every week, or twice a month, or monthly. ARE YOU MAKING YOUR PAY DAY YOUR BANK DAY COMMERCIAL Capital and Surplus, $5,400,000.00 HOME SAVINGS BRANCHES 436 7th St. S.W. 7th and Mass. Ave. ALSO? Every Banking Service 3 % ON SAVINGS OMPAN Y 15th and Penna. Ave. 8th and H Sts. N.E. Surplus, §250,000.00 Sy 911 F Street $250,000.00 Remaining Open Until 5 P.M. Today and Tomotrow AVINGS DE- savings, with- —in order that the many patrons of our PARTMENT may add to their PAYDAY out inconvenijence. 1 Should you not be a depositor, we urge vou to become one now while the year is voung. You'll find us sin- cerely mindful of your financial progress—ever ready to help you make the most of your time and money. Our Savings Dept. Pays 3¢, Compound Interest L JAMES A. MESSER President FRANK J. STRYKER Vice President and Cashier BENJAMIN W. GUY Vice President S S ARTHUR N. MITCHELL Assistant Cashier Down Through the Ages | | ’ HE First Mortgage Note is a form | of security dating back to time im- memorial and maintaining always a rep- utation for safety and stability. No other security has stood this test of time —a fact which testifies to the soundness and safety of mortgages in general. Our own experience and care make possible the never-failing dependability of the First Mortgage Notes we offer. They are in convenient denominations, and the interest is paid promptly on the day due. A N e /e e e e These Notes merit your investigation. 53 Years Without Loss to an Investor. Swartzell Rheem&HenseyC 727 15% Street NW. o i Remember WE PAY DAILY BALANCES interest on checking accounts on daily balances — com- pounded monthly. 0000 interest on ordinary savings accounts—compounded quar- terly. interest on special certificates semiannually. EVERY DAY IS INTEREST DAY THE MUNSEY TRUST COMPANY Munsey Building Pa. Ave., Bet. 13th and 14th Sts. NN\W. et savings compounded i Sate Deposit Boxes at Very Moderate Rentals Now Serving Over 41,000 Depositorn Capital and Surplus $2,000,000.00 fYou promised yourself a bank account, to be built with the beginning of the new year. Pay Day’s here, so you can test the force of your stamina. 'y out the promise faithfully and make a point of banking something regu- after. You'll never be sorry wil for taking thrift’s pathway. Il It’s the one straight road to Ll ; %] success! Same Rfle of Interest Paid on Large and Small Accounts OFFICERS: WILLIAM D. HOOVER. fWe're paying interest to over 41,000 individuals, and have room for you in this growing family. DIRECTORS: President | Woodbury Blair Willlam D. Foover .y Eres. | fames A. Buchanan Reginald S. Huidekoper et Offes; | William A. A. OburchVictor Kauffmi Treasurer | Walter C_ Clephane Chatles Minsbal Becretary | William V. Cox 3 "'Tv. | W, E. Edmonston 170k W. Stone t Trust OMcer | Frederick A. Fenning William H. Walker ‘Asst. Trust Officer | H. Prescott Gatley ~Henry K. Willard BRUCE BAIRD. DAVID BORNET. National Savings & Trust Co. 55th Oldest Savings Depository in Washington Year Corner 15th and New York Ave.