Evening Star Newspaper, February 14, 1923, Page 29

i 4 COAL STOCKS SHOW BAINOVER OCTOBER tl S. Geological Survey Gives . Out January Figures—Lo- i cal Financial Doings. Consumers of the United States had .mmrnxlmulfl,\- 36,000,000 tons of bitu- minows coal in storage January 1. 1923, according to the United States geological survey. This was an in- crease of 10,000,000 tons over the Fovised figure of stocks on October 1, 1922, and 4,000,000 more than on November 1. In spite of these in- creases, however, stocks were con- siderably below those on the first of preceding year for which rec- ords are available. Stocks of soft coal on lake docks ‘on the first of the year, classed as coal in transit, were 8,129,206 tons, and, according to producers’ reports, there were almost 750,000 tons in storage at the mines or at points be- tween the mines and destination. Retail coul dealers’ stocks of an- on January 1 were con- greater than on Oetober . but were less than any cor- responding date for which records are avaflable. Stocks of anthracite on the lake docks were only 13 per écent of those on January 1, 19 Gas Light Elects Officers. The recently elected hoard of di- rectors of the Washington Gas Light Company organized and elected the following officers to serve for the ensuing year: Howard Reeside, president; Ord Preston, president; William Orme, George % tary; Lawrence Townsend, treasurer; Rawlins Hume, stant treasurer: Sanford N. Whi eneral auditor; Clay Bayly. a neral auditor, and Minor, G Rowland, gen- eral counsel. Owing to the illness of Mr. Re: Mr. Preston, who a charge of the company ago, will continue to fulfill the func- tions of president. He has been a di- rector of the company since 1910, and is on the board of directors of the Union Trust Company. Mr. Reeside ant g tely & FINANCIAL. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY HOUSTON, February 14.— Esti- mates of the acreage to be planted to cotton this year in Texas indicate today an increase of from 15 to 25 per cent. There is a good demand for cotton in this market, but holders are firm in their determination not to sell under 30 cents. SAN DIEGO, February 14.—Cotton men here declared today that esti- mates of the cotton erop from lower California and from the imperial valley on this side of the Mexican boundary are more than 30 per cent too high. Importations from Mexi- can plantations through Mexicall are considerably below forecasts. PORTLAND, Ore, February 14— Booking of two large cargoes ot railroad ties aggregating 2,100,000 board feet to India on the Japanese steamers Meigen Maru and Yoshida Maru has been announced here. This will be the first lumber shipped from the Columbia river thelc to India for some ST. PAUL, February 14—Plans for the operation of three large grain pools by the Northwest Wheat Grow- ers’ Association, which will market a large amount of wheat, flax and rye, are now under consideration by executives and farmers here, PITTSBURGH, February 14.—A Price war 18 in evidence in the north- ern Pennsylvania crude oil market tcday. Open quotations of standard companies have been steadily raised and as readily followed by independ- ents with premiums over posted prices. This is the result of the wide demand for high-grade crude. PHILADELPHIA. February 14— Gray and brown suede leather is be- ing extensively sought toda by manutacturers of women's shoes and ere 1s also a good demand fo patent leathers. & SAN FR . February Almost $1,5 boxes of are in cold storage at San Francisco and Los Angeles according to war house men today. This is an increase of 400,000 bo over the amount in storage at this time last year. CAMBRIDGF ass., February 14. —Practically every factory making radio apparatus and equipment here is working overtime today to fill the Increased demands from dealers, is recuperating in the south. Josiah Kirby Resigns. § Josiah Kirby has tendered his resignation president of the Cleveland Discount Compan accord- ing to George A. Harris, v presi- dent and local Tepresentative of the organization. . Hopple, stockholder has been elected board of directors. Fred C. Tomde has been elec cting presi- dent and general manager. It was further announced that Willlam G. Harvey, former Governor vof South Carolina, has become asso- clated with the company in the capacity of general manager for the states of North and South Carolina. The resignatoin of Mr. Kirhy from the company rings down the curtain on one of the most spectac- ular figures in Cleveland financial circles. The Cleveland was organiz ago. The b the largest indi- of the company, of the Discount Company d by Kirby four years nce sheet of the ‘com- pany last July showed total re- sources of about $42.300,00. The company has branch offices in many dcities. Money Per Capita. foney in circulation February 1. is_stated by the asury at s 518, or $40.74 per capita on an_ estimate ion of conti- nental Un of 110,678,000, These show a decrease from ‘ January 1. . in per capita circu- lation of §: Try d bullion is stated at John D. Cochran. Franklin National a few weeks in Hav; Income Tax Hintx. The 1923 edition of “Everyman's Income Tax.” including terse infor- mation every taxpayver should have in preparing tax retur based on 1921 and 1922 regulations, has just \been sent out by the National Metro- politan Bank. The booklet covers all perplexing problems in a simple way. $1,756,000 IN BUILDING. St. Paul Has Big Construction Pro- gram Now Under Way. Special Dispatch to The Star. ST, PAUL, February 14.—Permits 4or building issued here in the last month involved $1,756.000, or three times the amount involved a year #ago. Minneapolis also hroke records with a total of $1, 00. Razing of the historic old, Nicollet Hotel to | make way for a ‘new $3,500,000 hotel in the downtown district will begin this month. New bullding plans in- olude those of a ten-story office build- ing and a $4,000,000 addition to the +Soo Line building. t of the s spending AMERICAN CAN EARNINGS. NEW YORK, February 14.—Net earn- ings of the American Can Company in 1922 totaled $14,898,925, ns agalnst $7.020,261 in 1921, according to the annual report made public today. This {s equivalent to $18.3 share on the common stock, as against $2.76 the year before 40,000 SHEEP PERISH. W1 A, Nev., February 13 (Specis Between 40,000 and 50,000 head of sheep, valued at close to $500,- 000, are perishing in deep snow and tense cold on Nevada ranges, accord- ing to reports here today from the Pancake range, near, Tonopah, and other districts. . RAILROAD RIGHTS ASKED. The Atchison, Topeka and Santa Fe rallroad has 'asked the Interstate Commerce Commission for author- ity to take over and operate the twenty-two-mile line of the Rio Grande, Fl Paso and Santa Fe rail- @Ioud which runs from Il Taso, Tex., to the New Mexico. 1 line. The Rio Grande is now owned by the Santa Fe, and it was sald that the | merging of its operating staff with that of the Santa Fe would result in excnnomlcu and more efficlent opera- tion. —_— N SHORT-TERM SECURITIES, (Quotations furnished by Redmond & Co.) —Noon.— " Gen luminum Co. of Amer 7s 1025.. 108% 103% A auin G, of Ao Tai1588. 08> 1o American_ Cotton OIl s 1924... 90 lean Sugar 8s 1097, American Tel. & Tel. fs 103 ’l"(‘l. & T.‘ : Copper 88 :::g:hfll Copper_Ts 1929... ‘Anglo-American Oil 7is 1925 Armour & Co. 7 1930. Hethlehem Steel 7s 1023 BOSTON, February 14.—The coal crisis in New England apparently has pa; Bituminous coal is offered in larger volume and prices are showing a distinct tendency toward lower level —_— 4, $500 at ashington gen. 6s—3$5, $2.000 at 100, $500 g Jon oS00 At 100, Capital Traction— Washington Itws at 7 Rixis Realt Wasiingto Ry, —$1,000 at 93, prd.—10 at 76% LL. Amercian Security & Trust Co.—1 at 300, Washington Rwy. & Elec. m.—10 at 6734, s—$1.000 at 1037 1w 101%. 30 at 1811 Washing Light—2 af 4% Money—Cail loans, 5 and per eent, BONDS and Asked Prices. PUBLIC UTILITY. longs, 5s. and Potome gur. Wardman Park Hotel 6s. STOCKS PUBLIC UTILITY. American Tel. & Telga Capital Traction Washington Gas Norfolk & Was| W & E Lincoln National Metropolitan Riggs .. Z Becond . Washington = TRUST COMPAN American Seeurity & Trus Tnion Trust Wash. Loan Commerce and Savings. Washington. Secarity S ings an Seventh_Street United States. Washington FIl American Corcoran . Fireme Natlonal Union. TITLE INSURANCE. Columbla Title. . Real Estate Title. = MISCELLANEOUS, Columbia Graphophone com. Columbia_Graphophone pfd ..., ster and Storage Mergenthaler Linotype. Old Dutch Market com. Old Duteh Market ptd. TLonstou Monoty, Becurity Storage. ‘Washington Marki Yellow Cab. EX-DIVIDEND TABLE. February 15— Metal, q. Edison, q ‘opper and Cosden & Co. pfd, 4. Lee Rubber and Tire, Liggett & Myers Tobacco, q. Liggett & Myers Tobeaco M, q. Mariin, Parey. q. May Departmenc ' Btores rure Oil, a.. Sinelair Consoidated Stern Bros. pfd. q United Cigar Stores, Decre & Co. ptd, February 1 American Metal ptd, q. Hartman Corp. q. ing Co. 1s¢ ptd, dard Milling ptd, q Standard Milling, q. Febrary 10— Hart, Behaffner & Marx, q New 'Orleans, Texas and Mexi Timkins-Detrolt Axle pfd, q. February 20— California_ Petrol, q n Pacific s 1924 1925, Y tt_Copper T e eNell & Libby 7s 1031.. 1 oy Fas s 0 0 dusi. AL s s & . 7a 1980. Torn Union. 8%s 1986... " 110 Vontizghouse EI & Mf 7a 1931 107% s Teacher—Tommy, why did they eall ‘Wall street by that name? Tommy—Pop says it's because S0 ARy £0 to the wall there. 1083 Homestake Mining, monthiy . Btandard Oil of California February 23— Mahoning - lnvestment, q Mahoning Investment. exi National Cloak and Sult pf Ohio 0il a. : Standard O1i of New Yor) Weber & Hellbroner pfd, q TREASURY CERTIFICATES, (Quotations furnished by Redmond & Co.) Maturity. P areh 15, 1 » Margh 15, 1923. s June 16, 1035, * Decemper 15, 1925, ber 18, 1623 h 15, 3 Hecomber 15, 1038, December 15, THE EVENING - STAR, WASHINGTON, COTTON INDUSTRY AT HIGHEST SPEED Census Report Shows Larg- est Number of Spindles Active in Mill History. Cotton manufacturing showed great- er actlvity during January than at any time in the history of the indus- try. The number of cotton spindles active during the month passed the 35,000,000 mark for the first time, the census bureau's monthly report is- sued today showing the number to have been 33,240, Consumption of cotton during Janu- ary totaled 610,375 bales, which has been exceeded only twice heretofore, in March, 1916, when 613,754 bales re consumed, and In May, 19 when 615,412 bales were used. Reason for New Reecord. The growth of the cotton spinning industry in cotton-growing states is largely responsible for the increased activity. In January cotton-growing states consumed more cotton than in any month in their history, and the number of active spindles was larger than ever before. Active spindles for the whole country increased from 30,359,843 in January, 1913, to 35,240,853 in Janu- ary this year, while in the cotton- growing states the er increased from 11,740, to 966,294, Con- sumption of cotton in the same period increased from 533,743 bales to 610,- 375, the cotton-growing state sumption Increasing from es to 384,019 Cotton Supnlies on Hand. Cotton consum during January amounted to 610,375 bales of 1 49.804 of linters, compared with b: 945 of lint and 4 of linters i Deoember and 526,698 of lint and 43,- of linters in January last year, the census bureau announced tod: Cotton on hand January 31 in ¢ suming establishments was 1,986, bales of lint and 143.415 of linte compared with 1,921,295 of lint ,104 of linters on December nd 1,668,668 of lint and 172,341 ers on January 31 last year, and public storage and at compresses 3.451.689 bales of lint and 45.821 of lint, compared with 4,074,945 of d 38,103 of linters on Decemd 3 st and 4,621,708 of lint and 13 963 of linters on January 31 last year. Cotton spindles uring” De- cember numbered 3 § compared with 34,968,440 in December and 34,- 04 31 441,419 in January last year, Imports and exports not available, ONIDN SHPHENTS BEATALL RECORDS Foreign Growers Now Look- ing to U. S. for Market. Only 4,000 Cars in Storage. CHICAGO, February 14—Ability of the United States to consume onions has caused growers in the Nile valley of Egypt to look toward this country as the outlet for their spring crop. despite the new tarifft of 1 cent a pound, and has induced Texas pro- ducers to Increase their plantings for the season, the United States bureau of agricultural economics reported to- day. During January the markets of the country absorbed onions at the rate of sixty cars a day, leaving only about four thousand cars in storage Feb- ruary 1. Although this season’s crop, 24,000 carloads, was 5,000 cars heavier than the previous one, two-thirds of the production had been shipped. by February 1. Based on statistics of former sea- cons, the bureau of agricultural eco- nomics estimated that about thirty cars a day would be shipped to mar- ket during the remainedr of this sea- son, which closes in April. Most of stock in storage was said to b in New York, Massachusetts, Ohio, In- diana and northern California, In the first ten days of this month five carloads or Holland onions and about one hundred and eighty-five cahloads of Spanish onions arrived in New York. Shipments of early cabbage in- creased, but were less than last year's total at this time. Florida strawberries sold generally 5 cents lower in the wholesale mar- kets at 3 Oto 35 cents a quart. De- clines were reported for other vege- tables. BALDWIN’S NET PROFITS TOTAL $5,206,519.05 Approximately $19.30 Per Share Earned on Common—Surplus Increased by $2,406,519. By the Assoclated Press, NEW YORK, February 14—Net profits of $5,206,519.05 for the year 1922 were disclosed in the annual re- port of President S. H. Vauclain to the stockholders of the Baldwin Locomotive Works. This was equiy- alent to an earning of approximately $15.30 per share for the 200,000 out- standing shares of common .stock, compared to $18.30 for the preceding ear. % The company pald the usual 7 per cent dividends, amounting to $1,400,- 000 each on the common and preferred stock, and added $2,406,519.05 to the surplus fund. . President Vauclain expressed satis- faction with the business of the last few months of the year, and stated that the property was “fully prepared for the improved situation which will characterize the coming year.” —_— NEW CURB GOVERNORS. Six members Elected to Board at Annual Meeting. NEW YORK, February 14—Six new members of the board of gover- | nors of the New York Curb Market were elected at the annual meeting yesterday. W. C. Coles and Morti- mer Lansberg were new members elected for one year, and Alexander H. Low, Thomas Marsalis, Vincent ! ¥. O'Neill and Keneth H. Turnbull for three years. Four governors, Edward E. B. Adams, Stephan B, Ed- wards, David U. Page and Louis M Teichman, were re-elected. e DIVIDENDS. Btock of North Benn. 8- B, 0., g bed g Ingti riter Co. 1st DEd, $350 roocsrersnnesis: Feb. % Mar & Standard Gi q, 2 D. 0, WEDNESDAY, FEBRUARY 14, 1923 H We have on hand gilt- | edge first trust notes se- I cured on approved north- || west property. ( | | | Dependable Service RENTS B. F. SAUL CO. 1412 Eye St. N.W. Phone Main 2100 Moore & Hill, Inc. 1420-22 H St. N.W. Morgan, Livermore & Co. Members New York Stock Exchange 823 15th St. N.W. and Wardman Park Hotel EQUITABLE Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Asnets . - .$4,657,959.50 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. Main 2790 Col. 2000 First Mortgage Loans Lowest Rates of Interest and Cflulmlllflun.\ npt Action sher & Company, Inc.| 738 15th Street. Subscriptions for the 84th Issue of Stock Being Received Shares, $2.50 Per Month Il QuITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. Presient FRANK P. REESIDE, Seey. Age 30. Send Established 156 ™M stration $200,000,000. ¥ LOANS . If you have money to invest, we can safely Bllce 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. Money to Loan AL S Joseph I. Weller £ Wai & & Trog 9th & F aw, (B | LOANS? From $100 to $3%) on D. C. estate aud household goods or chat- 7 per cent interest. No bro- kerage charged. Pay your bills Gl ome only onp Bem. mmercial Loan & Finanoce ration Room 211. 921 15th Bt. N.W. —have ready for delivery a limited amount of 7% Gilt Edge First Mortgage Investments In Amounts of $250 Up Take Advantage of This The opportunity to get your savings invested on a basis of 7% interest is rapidly passing. g Chas. D. Sager 023 Fifteenth St. N.W. Mortgage Money for New Building S. W. STRAUS & CO., the largest investment house in America dealing in first mort- “gages on improved city real estate, have funds available for construction loans to aid in financingoffice buildings, apart- ment houses, hotels and other important structures. & F. Bonds so designated have market advantages which they would not otherwise possess. The sale of securities to such Sinking Funds can often be accom- plished at better than market prices. We will be glad to send you our recent re- viewof bonds containing Sinking Fund provisions. GRAHAM, PARSONS % Co. PHILADELPHIA NEW YoRrRK WASHINGTON 40S HieBs BLDG. Telephone : Main 2655 Building and permanent loans are combined in first mortgage bond issues repayable over a long term of years. We prefer loans of $200,000 and up. ‘Write for literature., Ask for BOOKLET L Incorporated. Ofices in 4oCities. Established 1882 STRAUS BUILDING 565 Fifth Ave.—at 46th Street New York 41 years without loss to any investor k- ®1923—S. W. S. & Co. Dean, Onativia & Co. Stock Exchange Building New York COTTON GRAINS COFFEE SUGAR STOCKS and BONDS MEMBERS: New York Stock Exchange N. Y. Cotton Exchange Chicago Stock Exchange Chicago Board of Trade Associate Members of N. Y. Produce Exchange of Minneapolis Chamber of New York Curb Association oAy WASHINGTON OFFICE Main Floor, Woodward Building Office Open Until 5:30 P. Phone Main 2040 JOHN CALLAN O’LAUGHLIN +.CHARLES R. ALLEY Manager Assistant Manager A GUARANTEED INCOME Stone Safeguarded Securities never “pass”’ dividends the General Stabilizing Dividends are guaranteed by i s of all affiliated & Guaranty Fund, Inc., which holds as: companies, managed by Stone Enginee Thus Dividends are INSURED IN THE HISTORY OF OUR COMPANY, IN NEARLY SEVEN YEARS, NOT ONIE OF THOUSANDS OF CLIENTS HAS EVER LOST A DOLLAR OF PRINCIPAL OR DIV DENDS THROUGH INVESTMENT IN STONE SAFEGUARDED SECURITIES Write or call for full information, without obligation, in regard to Stone issues protected by the Stone Plan H. A. STONE & COMPANY Philadelphia Messrs. Crowell & Guthrie, Managers Room 230, Munsey Building, Washington, D. C. Phone Main 6987. Y YR SERL YN AT Y I Y 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 HANNON - & LUCHS 713 14th, Street Orgauized in 1814, OFFICER GEORGE W. WHITE. 0. H. P. JOHNSON C. ¥. R. OGILBY. C. F. JACOBSEN. CHAS. E. BRIGHT ALBERT H. BEDF C."LOUIS ECKLOFF J. "GALES MOORE. DIRECTORS ARTHUR T. BRICE WALTER BROWNLEY. FREDERICK DeC. FAUST WM. F. GUDE CHARLES JACOBSEN 0. H. P. JOHNSON RUDOLPH KAUFFMANN Dr. J. THOS. KELLEY, Jr. A. LISNER TOWNLEY A. McKEE C. F. R, OGILBY E. CHAS. W. R = COMMERCIAL 7th and Mass. Ave. | 1 [ Safe Deposit Boxes at Very Moderate Rentals Same Rate of Interest Paid on Large and Small Accounts OFFICERS WILLIAM D. HOOVE WOODBURY BLAIR 3 5 PERCIVAL WILSO ctary 3 2 . ULLMER, Asst. Sec, & Asst. Tr. i TCE HATR s b DAVID BORNEY..Asst. Trust Officer National Savings & Trust Co. 55 Oldest Savings Depository in Washington Cor. 15th and New York Ave. T T th . .President Vice President J. H. RALSTON FRANK P. REESIDE HUGH RETLLY FRANCIS RIGGS WM. H_SAUNDERS HEEBERT T. SHANNON H. C. SHERIDAN SMITH, Jr, TUCKERMAN W. A, WIMSATT GEO. 'W. WHITE National Metropolitan Bank Capital, Surplus and Undivided Profits, Over $1,700,000.00 15th St. Opposite U. S. Treasury—109 Years Old IMEL I Y 1 ! FINANCIAL. Now Serving 42,000 Depositors Capital and Surplus $2,000,000.00 —can seldom be capitalized successfully, but grit and persistency can, as the afflu- ence of innumerable self- made men and women testify. 1] Put determination back of your dollar-planting, bank- ing something Every Pay Day, and your hold upon success will be steadfast. {We're paying interest to 42000 thrift-workers, and will be pleased to begin serving you THIS PAY DAY. {Deposits arc welcome in any amount. DIRECTORS: Woodbury Blair William D. Hoover Buchanan = Reginald S. Huldekoper A. M. Chureh Walter O. Clephage Yictor Kauftmann arles Minshell William V. Cox « H. Rozier Dulany, Jr. Edmund D. Rheem b2 k Stetson uston Fri Frank W. Stone ning William 11 Walker Henry K. Willard President L Awst. Trust Officer rick A. rescott Gatley Open Until 5:30 P. M. Tomorrow What Does a Good Opportunity Mean to You —or any one else who lacks the where- withal needed to turn the chance to ac- count? Ready money spells preparatiou for Fortune's smiles or the hard knock of adversity. anda eavings account affords the best way to accumnlate the cash. Start an “Opportunity Fund” THIS PAY DAY at the oldest National Bank in the District of Columbia. As little as ONE DOLLAR will enroll you among our continuafly growing family of savings depositors. 3% Compound Interest Paid on Savmgs Small checking accounts also invited. [ ] When You Use the Exclamation Point SOME people use the exclamation point like this: Oh, if I only had saved my money! B The thrifty people adopt some form like the following: My, but how a little persistence will make a big interest-bearing account! B If you employ the habits of thrift and persistence, you will use the exclamation point to denote happiness. Every Banking Service 3 % ON SAVINGS Cl e AN UsT COMPAN Y ° 15th and Penna. Ave. 8th and H Sts. N.E. Capital and Surplus, $5,400,000.00 HOME SAVINGS BRANCHES 436 7th St. S.W.