Evening Star Newspaper, January 23, 1923, Page 23

MORE WORK NOTED AND HIGHER WAGES Labor Department Reports | for December—Income Tax Rulings—Notes. A general increase in employment with a corresponding rise in wages took place in December, according 1o the Department of Labor. This in- crease is regarded as a most hope- ful sign, as ecmployment usually slumps at this period of the year. A_general increase of 2.4 per cent Che in the number of employes and of | 2 per cent in wages over November 5x shown in December by the report, which is based on investigation in forty-three manufacturing industries. Increases in the number of employ- es in December are shown in thirt: hree of the forty-three -industri with decreases in the other ten. Pay roll changes are shown in the same vatio, thirty-three increased and ten owing to resumption of ent of the strike, increase in em- cent, and the was in pot- | te per cent. Ag- Fieultural implements followed with 18.4 per cent. Income Tax Rulings. frequently reverses isions, and the effect preceding re- great importance ous taxpayers. On this point, Montgomery in his manual, “In- Procedur ays: eaxury interpretations are merely ations. Therefore, if the e that the law means some- ent from what the Treas- ury has held it to mean, the rulings must he reversed and redress granted s made back to the ge of the law. permits the commis- sfoner to apply new regulations with- out retroactive effect. Prior to 1921 sumed ulations automatically ive to thé effective of the laws to which the regu- s were applicable. “If the Treasury should issue regu- lations interpreting a_seetion? of the should change the inter- regulations, a a tax under the n can force a retro- tion of the latest regula- 2 issioner objects, it would be necessary to institute suit.” Deponits Increase. The deposits of the Northwest Sav- ings Bank ha «ed more than $100,000 since t atement., ziving during th R. & E. Dividend. S 1% per cent stock of the el noration chose the follo the ensuing i 2 ant treasurer. Ofters Prize for Chapter Work. Announcement was made vesterday by the clearing house committee of House As- Clearing House A 10 be offered for certain work in the Washington CThapter, American In- stitute of Banking Tiarry V.- Haynes. secretary of the sgociation, said the prize may bel dual or individ- The work rded to an indi uals, in or out of ¢ of 4 graduate ‘work might. becau ing prominence, for the prize. R. N. Harper to Entertain. Robert ident of the District 2 will enter- the directorate and the entire | ree of the institutio a dinner | the Hamilton Hotel Suturday night e affair has bec an annual svent with Mr. Ha and at_the dinner_affairs pertinent to the Dis- trict National “family” are discussed. Mr. Harper will preside. Personal Mention. | George O. Waison, president of the | Liberty National been con- fincd to his home with a cold for the | past two days. WESTERN AL OFFGALS DISEUSS NERGER LANS Tell I. C. C. of Advantages and Dis- advantages in Proposed Consolidations, Mergers of western railroad sys- Washmgton Stock Exchange 43—$1.000 at 73. Washington Bwy, l me oL o Ciital Traction— at 100%, 0 at 108, 2 at Pofonac Elee. lat 5s—$1,000 at 9. Wi to Giec, -3 v m-«s'n. 608, 10 at 9%, 1 at i‘ 1t IJ pe—10 at 101,10 a1 "“‘a’ (RO ishin ;m o & fiec. pld.—10 at 'nu. 10 at 753, 10 at Money—Call loans, § lnfl 6 per cent. BONDS Bid and Asked Prices. PUBLIC UTILITY. Asked. Amer. Tel. & Telga 4s. 15 02 Amer. Tel. & Telga 4 Am. Tel & Tel, ctl, R. Gify'and Subsrber Georgetown t Metropoltan " | Tennessee, . Biwy. & Wash. Rwy. & Elec. g. m. 6s. “MISCELLANEOUS. D. C. Paper Mrg. 6s. Rigga Realty ds (long Riggs Realty 5s (short) Becurity Storage & Sate Wauh. Mkt. Cold Storage Wardman Park Hotel s.. STOCKS PUBLIC UTILITY. American Tel. & that | N ree United States. Washington Mechanics. . American Corcoran Columbia Title Real Estate T MISC Washington M Yellow Cab. DRY AGENTS RAID SHIP. 1.0S ANGELES, Calif., January 23.— Federal prohibition agents ralded the Swedish motorship Balboa in Los An- geles harbor last night, seized ten bot- tles of liquor and arrested Carl Andren, steward, and Algot Johanssen, carpen- ter, on charges of violation of the Vol- stead act. SCORE OF BANKS UNITE. COTTON GINNING REPORT o=l ANNOUNCED BY CENSUS| .,z comomie cial).—One ,of the outstanding fea- tures of the buginess and financial situation here day is the move- ment toward nk consolidations. 9,862,601 Ruuning Bales Ginued Two powerful king groups here have launched negotiations through Up to January 16—Figures | L3ue, ot et of financial institutions in the San Joanquin v by States. ley are expected to become units of - the two groups. Cotton ginning prior to January 16 mounted to 9,652,601 running bales, counting 167,399 round bales as half bales and including 30,967 bales of American-Egyptian and 5,065 bales’of Sea' Island, the census buréau an- From $100 to $300 on D. C. real estate and household goods or chat- tels. 7 per cent interest. No bro- follow: Alabama, kerage charged. 2452 running bales, | gPCommercial Toan & FinancaO Tound bales as’ half Room 211, 931 1 bales and including 32,363 bales of American-Egyptian and 3,126 bales of Sea Island, Ginning by states follow: 817,842; ration A Alabama, g Arizona, 40,115; Arkansas, 1.- r‘nll!ornln If you have money to invest, we can safely Bhee it on gilt-edge first . C. Mortgages. record of 30 years insures .your protection. Courte- ous treatment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. 29, homa, 633,991; South Carolina, o 381,954; gexas, Virginia, '25,965; all other 18,363. 13' BONDS HIT NEW LOWS. NEW YORK, January 23.—Thirteen active foreign bonds on the New York stock exchange dropped to their lowest levels in history vesterday on a resumption of heavy liguidation by investors who have become fright- ened by the news developments in the Ruhr valley. states, ‘We Have an Abundance of Funds for Real Estate Mortgages at 5%% Provided the Security Is Satisfactory Wm. H. Saunders & Co. 1433 K Street N.W._ ON FIRST MORTGAGES How to Build a Fortune by Systematic Investment SYSTEMATIC investment is the basis of most large fortunes. By laying aside a small amount of money each week or each month and investing it in amounts of $1,000, $500 or $100, every man may build up a comfortable fortune. For example, $10 a week, put by regularly and invested every ten weeks, so as to return 6% interest, will amount to $20,000 in a little over 20 years. Study the following table, which vividly shows how small sums mount up into large ones in this way: 3% Interest Yt A 6% % Interest 4% “ % tems tentatively, proposed under gov- ernment plans for consolidation of transportation lines continued today as topies of discussion for rallroad executives called before the Inter- state Commerce Commission. Hale Holden, president of the Chi- cago, Burlington and Quincy, sug- gested that the commission might be unwise in carrying out a project to consolidate the Colorado and South- ern with the Atchison, Topeka and Santa Fe. Such disposition of the Colorado and Southern, which is a subsidiary of the Burlington, might reduce, he said, the amount of com- petition in raliroad service to ship- vers throughout the territory. On the other hand, J. E. Gorman, yresident of the Chicago, Rock Island and Pacific, expressed approval of the theory of consolidation as so far worked out in the west. Tnclusion of his railroad with the . Somthern Pacific system would re- ault, he asserted, in the creation of a rallroad adequately located and ex- tended to maintain itself in competi- tion with the Atchison, Topeka and Santa Fe_system, enlarged under the commission’s plan by the addition to it of other roads. “The Rock Island is not seeking consolidation with any other line of railroads,” Mr. Gorman continued, “but {f some consolidation is coming the Inclusion with the Southern Pa- c¢ific appeals most to us.” 3% Interest 6% " % Interest 3% Interest 6% - 3% Interest / 4% % “ $10 8 wosk 1,633.84 1,656.51 1,691.96 2,825.83 2,875.39 2,998.74 4,723.94 4,894.66 5,271.05 6,086.55 6,380.47 7,025.91 9,870.67 10,757.50 12,440.13 14,262.37 16,018.60 19,717.06 #3150 week 4,077.62 4,138.62 4,230.57 7,005.58 7,183.86 7,498.36 11,737.71 12,228.81 13,182.44 15,135.71 15,940.95 17,572.96 24,571.15 26,615.80 31,112.45 35,521.38 39,628.37 " Bonds 49,309.87 -, This table is a sample of the material contained in our booklet “Common Sense in Investing Money.” The many valuable features of this booklet make it interesting to every investor. It will be sent by [return mail, without cost or obligation, on receipt of your letter, post card, or telephone request. Specifv Along with the linking up of the | Rock Island and Southern Pacific, the commission has tentatively sug- sested that the Chicago, Peoria and St Louls be thrown into the system, Jir, Gorman said this proposal wou not appesl to him, but that Wabash lines east of Chicago could gdvan- tageously be Included to give aoccess to the territory which the Chicago, Peoria and St. BOSTON SHIPPING um, BOSTON, Juuury 23 The number of commerol, the lust per cent and (oulsd 1, ll'l ‘l'hln oomplres with 1,424 in 1921 m—————ee August fs the healthiest month ia the vear. suve fer vounz children. Jwhio are subject to eateritis, S. W. BSTABLISHED 1882 _BOOKLET 508G _STRAUS & CO. OFFICES IN FORTY CITIES INCORPORATED NATIONAL METROPOLITAN BANK BUILDING, Washington, D, C. Telephone Main 5847 41 YEARS WITHOUT LOSS TO ANY INVESTOR ©1933—5. W, S, & Co. LOANSS Cagital & Surglus, gwo,mo.ou We're Paying Interest to Over 41,000 —depositors. Pretty substan- tial evidence that our fifty-odd years of THRIFT TEACHING have been fruitful. fYou can start an interest- earning account here with al- most any amount. SAFE DEPOSIT BOXES National Savmgs & Trust Co. 55th Oldest Savings Depository in Washington Cor. 15th and New York Ave. Reputation and Investments HERE is an insurance which infalli- bly protects those whose reason for buying is that they believe in a security and the firm behind it. The name of that kindly insurance is reputation First Mortgages have the reputation of constituting the soundest and most heav- ily sought after securities in the financial world. Swartzell, Rheem & Hensey Com- pany has earned the reputation of serving the public for more than 53 years without tae lot:s of a single penny to any one of its clients. . You may come to us with a feeling of security and satisfaction and find one of our officers ready and willing to confer with you. 53 Years Without Loss te an Invester. SwartzelLRheem& Ca 727 154 Street NW. Remunerative and Safe T IS estimated that in the United States five hundred million dollars are invested annually in worthless securities. Many of these are beautifully engraved pieces of paper whose sale value is their quality as engravings. They have no money value. A large portion of these securities are <old to people who can least afford to lose. Usually they have bought them in an effort to get too hlgh a rate of mtcresv. Just now our First Mortgages pay 6% and they carry with them absolute safc() of principal and certainty of yicld. F. SAUL CO. 1412 Eye St. N.W. Quarter of a Century Without a Loss B. Main 2100. ‘ FINANCIAL, GILTEDGE SECURITIES First Mortgage Notes Secured on Improved D. C. Real Estate il Appraised by Experts of 35 Years’ Experience Without a Loss Offered in Derominations of $250 and Up A Good Investment. WILL PURCHASE First and Second Trust Notes Warehouse Receipts, and Make Construction Loans $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 [SHANNON - & LUCHY] 713 14th Street Main 2345 YOUR lNVEST SAVINGS | WHETHER you have $190, §$: $1,000 or more to invest, inves gate our First Mortgage Loans on Wash- }n;t;!n Homes before placing your unds. NEVER A LOSS Qur conservative business methods have so icrfect]y 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. 6'2% and 7% Interest Convenient Denominations Call, Phone or Write for It WILLIAM S. PHILLIPS First Mortgage Investments i1 1409 New York Ave. Main 4600 “I Hereby Nominate, Constitute, and Appoint the’ American Security and Trust Company Executor of This My Last Will and Testament” ND thus a man has assured the futdre of his family. Just as you dictate the terms of your last will and testament, so will the American Security carry them out. Guarding against insecure investment, getting the ut- most in earnings for the estate you lgave, advising kindly, helping when possible to make the path of those vou leave behind more smooth. Ewvery Banking Service 3% ON SAVINGS, COMMERCIAL TRUST 15th and’ Penna. Ave. Capital and Surplus, $5,400,000.00 HOME SAVINGS BRANCHES ‘7th and Mass. Ave. 8th qnd H Sts. N.E. 436 7th St, SW.