Evening Star Newspaper, January 18, 1923, Page 31

FINA v SOUTHERN RAILWAY MAKES FINE GAINS Expected to Show $4.50 Per! Share on Common in 1922. 44 Financial Notes. Southern rallway is expected to show $1.50 a share earned on 1,200,- 000 shares of common stock in 19 according to well informed circles. in fact, it is considered that South- ern paid only one preferred divi- dend at 21 per cent, requiring $1,500,- 400, there will be laft from earn- ings in 1922 an amount equivalent to better than 6 per cent on the com- mon stock after payment of the one semi-annual preferred dividend. ar v lity the Arst nugement has had an op- to show what could be done with road double-tracked. Just en the double track was completed » road was taken over by the gov- ent. The showing is remarkable, gross revenues, despite th strikes coupled with increased op. crating expenses in the d, are capected to exceed $128.3 ap- £ross of 1921, dou- d line is the main stem be- tween Richmeond and Atlanta. The following estimated earnings r December and first weel of Jani- ndicated the stride Southern is maintaining Toad’s Fine Showing. { timated gross for fourth week of 000, against week P $786.000 with ol vidends, or he pre- Preferred dividend at er cent the old rate i-annually. Tt ind it is not likel ¢ paid in 1 paid se Ve will be con. For fifteen faced han s no lo the Southern neing. This s no further ¢ for 1 improve- ! by Southern strikes, | iron fur- t the de- ¢ in the | iron products | increase for ! Advance in price of ) 2814 is believed Who bel er pric; « Inve rec suthern co stered by investors earnings warrant high- the ju outhern cipating in for ors nt Broker Service Extended. . members of ixchange, who rece office in Wa: R. Golden Dona president of the dson was re-elected ‘ommercial National Bank today. Other officers re-elected were: Harrington _Mills, first vice president; James B. Reynolds, vice \ president; James H. Baden, vice pres- dent and cashier; Laurence A. Slaughter, vico president; Herbert V. Hunt, J. Sendall Cain, Robert A. Cis- el and Walter J. Harri ckwell Smith, former department, and 1 cr. were elect. | ed as a ers ! M. Mellon Explains Loan Act. | 1 tory 1lib- sinking | refunding | and notes reported the House and means committee. rot: lon in_ urging such rmed the committee thut if the law was not changed in- * asmuch as all victory notes will ma- ture May 20 nest, the sinking fund soon would apply only to_liberty s it did not cover Treasury bonds or other refunding *und \is would create an unfortunate situation and one that might be embarrassing to the government,” * the Secretary said, “for conditions are likely to arise In which it would he difficult or even impossible to purchase liberty bonds for the sinking fund at an average cost not exceed- ing par and —_— i Washington Stock Exchange SALES Washington R 65—8$1,000 at 9975, Potomac Electric g. 51 4 Washington Rty 10 at 701, 10 at 10 2t 7504 Washington Gas 715. 10 8t 5714, Warhingtan Toan and Trust Co.—5 at 32015, Laoston Monotype—5 at 198, ton_ Mar loans, 8 per cent, BONDS Bid and Asked Prices. PUBLIC UTILITY, Rid, Amercan Tel. & Telge. 4s. o2 Amer. Tel. & Telga. 4} Am. rel, & Tel. ctl. tr. Am. Tel. & Tel. conv. s Apscosts und Potomur 54 Anacosta and Potomac guar. Chesapeake & Potomac Tel. Ches. & Pot. Tel. of Va. 5e.. Potomac Elec. % Potomac Elec. Pow. g. m. 6. Pot. Elec. Pow. g. m._ & gef. Wash., Alex. & Mt. Ver. 5 Washington Gas 5s. Washington Gas 7 Wash. Rwy. & Fle Wash, Rwy. & Ele: Storuge x.. Hotel 6s.. STOCKS PUBLIC UTILITY. Americap Tel. & Telg: apital Tr Wasbington Gas. Norfolk and Wash. Steamboat.. Wash. Rwy. & Wash. Rwy. & ermioal Taxi com. Termiual Taxi pfd. Wardman Pa; Capital Columbla " Commercial District . Yarme Feder Jibert Yiiocol Natio Riges Recona Washington TRUST COMPANY. American Security & Trusteees 285 on, assistant o NCIaL, 1HE NEW YORK CURB MARKET Recetved by Private Wire Direct to The Star Office. DY WILLIAM F. HEFFERNAN. NEW YORK, January 18.—That traders pald little attention to de- | velopments in the European situation was borne out by the fact that many issues reached higher levels in today's trading on the Curb Exchange. After {a briet period of comparative quiet, special stocks were taken in hand for reasons pertaining to the situation in the companies themselves, Declaration of the regular monthly cash and seript dividends on Cities Service issues was responsible for riso of 5 points in the common, while improvement also occurred in the Banke shares and in the preferred. Citles crvice statement of earnings for the month of December showed a balance available for the common stock equal to $14.88 on the avera amount of common stock outstand- ing for the vear, as against $13.04 in_the previous vear. Southern States Oil was In active demand and advanced almost a point on the announcement that a twenty- five-yoar contract had been closed whereby Southern States and Middle States are to have complete pipe NEW YORK, January 18.—Follow- ing s a lst of today's highest, lowes and 5 prices for the most activ bonds and stocks dealt in on the New York Curb Market: Sales in BONDS. thonsands. 15 Alum 245, 1085 10015 o7 7a_1025.. Amer R M Gs ... 10 Awer Gas & Elec 6s. Am Lt 6e wiout wrt Am Repub Corp @s.. Am T & T 6s '24.. 56 Anaconda 6s 5 €S Anaconda 7s Armour of Del 5 Boston & Main, § Can Nat Ry Fq Ts 2 Can Nat Ry Bs..... 1 Churcos! Co Amer Ss i Deere & Co. 12 Detroit City 4% Dunlop 1 2 Galena Sig Oil 1 Gen . 1 Grand Trunk 633s.. 1t 0il 13 Gulf Ol of Ps 4 Cons Textiles 1 Copper Exp 8 * 4 Deere & 2 Det 0 9§ Det 33 Dunlop T R_7 2 Galena Sig Oi ) Sheflield Farms 6 Southern Cal 0N Y SONT 1 Sun_0il 8 47 Swirt_& Co 1 Untd Ry of Ha 4 Vaeunm PL.. rland P L 20 Fureka P L .....0. 100 Humble 0 & Ref. 10 Illinois Pipe Line Indisua P I W Inter Pet Co Ltd 145 Maguolia Pet . 300 Ohio Ol new 40 Prairie 01 & 235 South Penn Oil . 3 Columbla_Pet 6 Creole Syad 1 Fauity Pet pf 10 Engineers Pet 82 Federal Oll . 16 Fensland 0il 9 Gilliland Oil 50 Glen Rock Ol - 20 Granada Ofl . 19 Gulf Oil of P 260 Hndson OR . 180 Keystone R 10 Livingaton Pet 2 Towry Oil P argay OIl 19 Merritt 0il 1 Mex Eagle 3 Mex Oil . Monnt Prod . Mutual 01l ut Oil vot eft 2 New Eng Fuel 0il. 40 Noble Ol & Ga 10 Northwest Oil 10 Ohlo Ranger 2 Omar 0l & G Pennock 0il o iy womon R A0 18 it .. 12 Seaboard Ofl 10 Texas Ranger. T4 Texon 01l & Land Turman _Ofl INDUSTRIALS 42 Acme Coal . Acme Pack B'kiyn City B R 3 Buddy Buds « Nipple Dubiifer © & Radio Durant Mot . Durant Mot of Thd 2 Fleischmann Glllette Bafety Glen Alden_Coal Goodyear {Tre Goodyear Tire pd. Goodyear Tr pr pf. Griffith, D W.... Gt Western Sug nw Hayes Wheel Inter Contl Rubber Lehigh Power sec. 10 111 32 4 ki 31 1 5% o fa 79 4 e Commes Recurity Storage Seventh Strest.. American Corcoran 220 < 100 18 8 TITLE INSURANCE. Columbla Title.. Real Estate Title. MISCELLANEOUS. Cotumb raphophione com. Columbia_Graphophone pfd. . Merchants’ Transfer and Sio; Mergenthaler Linotype . 0ld Dutch Market com. 014 Dutch Market pfd Lanston Monotype Security Storage. Washington Market.. Yellow Cab... *Ex-dividend, line and transportation facilities for the transportation of Wyoming and Montana oil and coal over the entire 8t. Paul railway system. The advance of 10 cents a barrel in Pennsylvania crude ofl, bringing the price up to $3.45, had little effect upon oil shares generally, but most of this group showed improvement on the day. Maracaibo was an exception and heavily sold for a time. In the afternogn, however, the stock re- gained part of the early loss. Standard of Indiana and Standard of Kentucky went higher. Gulf Oil of Penns; lvania, Mammoth Oil anid the low-priced Fed- eral Ol stock shared in the general ard movement of the oila. en Alden Coal was again con- suously strong, reaching a new Ve 69, reflecting the possibil- ity of the stock being placed on an annual 36 dividend basis. Durant of Delaware agalin led the motor group, {moving sympathetically with the same {group on the big board. ~Hayes { Wheel, although not actively traded in, got well above 4 There were, however, a few spe- clal weak spots among industrials. Professional operators were again able to depress New Fiction Publish- ing, and Oselda Corporation lost o point between sales. 1 Natl Sop of Del... 16 New Ficyjon Pub Co % N Y Tel pid...... 111 1 Orelda Crpn Patten Type Philip Morrie hoenix Hoslery Phoenix Hoslery pfd 101 2 prima Radio Co.. . © Pyrene MfZ ...... Kadlo Corp pf Repetti Candy G Reo Mot . S0 0 & 1 Stutz Motor . Tobacco Prod 4 Enip Triangle Film 2 Unit Pt Khar new. Unit Retail Cands. Corp 1nt pid Corp st pid 2 Yale & Townc new. MINING. 2 Alyska Brit«Colo. . Rlue Bison Gold Boston & Mont . Caledonia Min ..... Calumet & Jerome. as Copper. Copper . Candelaria "Stin Columbla Frmerald, . Con Cop M tem cfs Cons Nev Utah Crackersack 7 Cortez Silver Crexson Gald ... Mine. Goldfield Rlue B Goldfeld Cons . Harmill Div Heorietts Silver .. .65 Hill Top Nev . 3 Hollinger . H Lone star La Rose Min . Kewanas Mine RB.. 222 Sandstorm Kendal Bily Mines of Am.. . Siiversmith Mines.. Teck Hughes.... Tonopah Relmont Tonopuh Cash Boy agopah Divide o = o1 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY SAN FRANCISCO, January 18.—A delegation of Japanese silk mer- chants, en route to the International Silk Expedition at New York, having been entertained by local merchants, are on the way east today. WENATCHEE, Wash., January 18.— The Great Northern railroad has an- nounced that $3,500,000 will be spent in improving trackage, terminal facilities and block signals this year to expedite the handling of the Wenat- chee valley fruit crop. HOUSTON January 18.—Market- ing of south Texas strawberries is well under way today. The produc- tion now is going to eastern and northern markets. NEW ORLEANS, January 18—This season has shown the largest catch of muskrat known in the south since 1915. Orders from abroad have fallen off. Prices remain good. CONNELLSVILLE, Pa., January 18. —The vision of the H. C. Frick Coke Company management is bearing fruit in many ways today. Eight years or more ago the company started to develop mines in the Masontown and Brownsville districts in such a manner that oventually coal from them would emerge from pit mouths along the Monongahela river and permit direct river ship- ments. This is now a reality and coal from operations ten to twelve miles from the river is being moved underground by either belt conveyors or electric motors to river tipples for down-river shipment. DIVIDENDS. Stock of Amy Water Work o 1st pf.. e D! e i rockton, ’ .50. p Hood uuhhnq(‘n. ‘hfi L. Kl‘lll(\[l Switchboa: & Bu 2% s @ ISTOTOION.. JOU0: $1.50 pf... Publie Stesi “& "ifon” Ga.," g, % pf. .o Republic _Iron-Bteel " Co. 1%%, pf. Stafford Mills. panvag West Penn. C 6 e el Scientists assert that the current jof the Amazon is felt 150 miles at sea. Many women in Holland are study- ing engineering. EVENING STAR, WASHINGTON, D. MORTGAGE MONEY, on hand to loan on real estate. THOS. E. JARRELL Miato 708 CITIES SERVICE SECURITIES Bought, Sold, Quoted THOS. W. BRAHANY & CO. Investment Securities 510-11 Evans Building Washington, D. C. Main 8189 1dg. Money to Loan THURSDAY, JANUARY .18, 1923 e “BeforeYon Juvest. INVESTIGATE" Spend a part of your income for pleasure as you go, but put the District Guaranty LOANS . 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. 1st Trusts L. W. Groomes 1416 F St. 4% Appeal to you? Let us show the possi- billties of an investment in this fssue of Gold De- benture Bonds. They are for sale in $100. $500 ana $1,000 denominations bearing 6% interest; pay able quarterly. With the Bonds go a certificate entitling the purchaser to participation in the profits of the company up to 8%. That's the pros- pect. Our circular gives come plete details. Yours upon request. Commercial Loan and Finance Corporation Bond Depsrtment, Room 200 Phone M. 5673 921 15th Street N.W. MONEY ON FIRST o Corporation upon your budget for a regular monthly invest- ment to provide com-~ fort and pleasure in the future. BWestlake FISCAL AGENT «==DL. 228+1525¢t.0. Tel.Main 6710 TO LOAN MORTGAGES AT CURRENT RATES OF INTEREST Randall H Hgner & G Mortgage Money Available at Prevailing Rates S. W. Straus & Co., Incorporated, the largest investment house in the United States, dealing in first mortgages on improved real estate, have funds available for,— buildings, apartment buildings, hotels a: portant structures. acter and ample earning power. Sound and meritorious projects as listed abo — Construction loans to aid in the financing of office nd other im- — Loans secured by completed buildings of modern char- ~— Loans, under our industrial plan of finance, to mercan- tile and industrial corporations with substantial real estate assets and a consistent record of past earnings. ve may be financed at prevailing rates. We prefer loans of $200,000 and up. Special literature has been prepared explaining the advantages of the Straus Plan of financing. All applications acted on promptly. Write today to our Loan Department and ask for BOOKLET L S. W. STRAUS ESTABLISHED 1882 OFFICES IN FORTY CITIES & CO. INCORPORATED STRAUS BUILDING, Fifth Ave. at 46th St., New York City Telephone, Vanderbilt 8500 41 YEARS WITHOUT LOSS TO A ®1923—S. W. S. & Ce. A Bond is kno NY INVESTOR wn by the Company it keeps Lixea man, a bond is known by the company it keeps. That is to say, its soundness may be judged by the record of the other securities sold in past years by the same investment bank- ing house. It is prudent to find out if the house has ever sold unsafe securities, causing loss to its clients, and if so, why. On this basis, Straus Bonds have a legitimate claim to your favorable consideration. In the forty-one years since this House was M m. a nation-wide business of hundreds of millions of dollars in securities, no investor has ever lost a dollar interest on any security purchased of us. of principal or This is a business long enough in time, large encugh in volume, to be really significant. We suggest that you investigate the sound first serial bonds we offer, in $1,000, $500 and $100 denominations, yielding 6%. Our booklet, “Forty-one Years Without Loss To Any Investor”, describes them fully and tells the reasons for this record. Call or write for it today, and specify BOOKLET 926-G L STRAUS ESTABLISHED 1882 . OFFICES TN FORTY CrTmS NATIONAL METROPOLITAN BANK WASHINGTON, D, C. Telephone Main 5847 & CO. © INCORPORATED BUILDING 41 YEARS WITHOUT LOSS TO ANY INVESTOR ©1923—S. W, S. & Co. $2.000,000.00 To Loan on Hotels Apartments Offices Business Houses Construction or Permanent Loans Amounts $100,000.00 and Upward Prompt Handling Loan Department HANNON - & LUCH 713 14th Street Main 2345 GILTEDGE SECURITIES First Mortgage Notes Secured on Improved D. C. Real Estate Appraised by Experts of 35 Years’ Experience Without a Loss Offered in Denominations of $250 and Up A Good Investment. WILL PURCHASE First and Second Trust Notes Warehouse Receipts, and Make Construction Loans ational Mortgage & Investment Corporation 811 Vermont Avenue N.W. Gotoblished 1889 Funst ffrlozfgage Soans In Convenient: SDenominalions ‘ For Jrwestors FH. I Rust mzzfleenlfi Street Nlain 6388 U A M S 5 & Down Through the Ages HE First Morigage 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. These Notes merit your investigation. 53 Years Without Loss te an Invester. Swartzell Rheem&HenseyCo. 727 152 Street NW. UR SAVINGS | WHETHER 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 I \. | 71 Call, Phone or Write for It WILLIAM S. PHILLIPS First Mortgage Investments 1409 New York Ave.