Evening Star Newspaper, February 16, 1923, Page 27

FEBRUARY 16, 1923. IMACKAY COS. UNAFRAID | - OF RADIO COMPETITION | Surplus of Over $2,000,000 Dis- FINANCIAL. THE _EVENING STAR, WASHINGTON, ’ S TORES REPORT 1922 | comonres ems. " IANUIARY EXPORTS D FINANCIAEL. LOANS 1f you' have money to invest, we can safely Y, FRIDAY. NEW YORK CURB MARKET - Recelved by Private Wire Direct to The Star Office. —have ‘ready for delivery ‘a limited amount of AS BES.I- YEAR YE[‘ B IRED STAR FROM ENTiRE COUNTRY Department Sales and Earn- ings Pass All Records—Lo- cal Banking News. throughout the 192 as their both in dollar volume of sales and carning: the most encouraging that this prosperity was on sound buying power and price levels, rather than on spending and in- characterized Department United States successful stores recorded vear, Probably featur founded derate such o t Nated v 1919-192 Most of the attained w 10 per cent swed even leading department | sales volume of | s of 1921 and some increase over 1920. Retailers point out that the great of ciiers have not suffered | its of the same percentage as s in food and merchandise value: Thus there is actually a surplus buy 58 power. ness was done at thoroughly conser- ative price levels and the steady wcter of the demand augurs well | 1923 1. A, Bowles AS noted in twenty 3 stitut in ex we dry goods \-.N.I evated. ¥'s Star, A.nm-l serviee with the o Which were Bowles, was ¢ the Potomace Mr. Bowles' r a0 the entire B vesterd > in the of a young time to his itering the bank r boy in 1803, young hard to his work, and promoted until 1908, | cashie the insti- | o ik his an of her | tore per vice a 1k to the his untiring being ty Savings an cashier Mr. | the active president and will continy wanagement of the f the in- titution, wh *reeman, istant cashi o supe of the ny formerly led by Mr. Bowles snnounced that a artment has which w new bu. led in rected by cashier, the w This the pr f expand- depusit soon been ins atest with ousiy frg bus ady fo Mr. being Ofutts Death, Bank today ment was made of 1t £ Ceorke W. Offutt, president of the institution for the past thirteen vears. Mr. Offutt had always been a great favorite with those under him, and had been identified with the Potomac Savings institution since its origin, ha been its incorporators sorved as vice ut for about ! ven vears he was elected to Waters While no definite have been made, it is the enti When arrangements xpected that board of directors and offi- cials will attend the funeral, which will be held tomorrow afternoon. Will Attend Banque A party of six local bankers will leave for New York to attend the an- nual banquet of the New York Chap- Institute of Banking, for tomorrow night at the Astor Hotel. Those who will make the trip are Charles D. Boyer, W. J. Waller, W. W d, Harry V. Bdward J. McQuade and Dulin, jr A. I. B. Dinner Guests. Among the out-of-town guests who will attend the 1al dinner of the Washington Cha American Insti- tute of Banking, according to an- nouncement made by James C. Dulin, jr., chairman of the committee in charge, are Miss Isabel R. Trowbridge of Albany, national chairman of the women's committee of the Institute of Banking, and Miss . Leise r national f the ttee. | < will be the guests ! 1 committee, head Helen 10 Reed of the Com- | nal Bank. The W nization of wom will entertain in at Tlotel Ham- will attend the Nard - gurst of the American Insti- its annual dinner { rs mployes Lonor on February t which ‘the Reed will York Chapter, to of Banki Saturday night FIRNYS STOCK AND BOND. TRANSACTIONS HALTED Ohio State Authorities Take Ac- tion Against Cleveland Dis- count Company. By the Acsaciated Prass COLUMELS, Ohio, February 16.— cctor of Commerce Cyrus Locher, nnounces t upon his orders the stat urities department had voked the license of the Cleveland Discount Company, Cleveland, to deal in its own ste re- s and bonds. Direc- tor Locher said the action was taken | hecause the company “is in bad con- | dition.” Mr. Locher explained that the company, should it straighten out its difficulties, could apply again for| a license to sell its stocks and bonds. The company has been doing o i tensive business all over the U ! States for the last two or three y Tt speciali in buying mortgage: and capitalizing them, and then mar- keting the stock Reorganization Under Way. CLEVELAND, Ohio, February 16.— Sale of securities by the Cleveland Discount Company was suspended by the board of directors Monday. The sales force has been laid off and branch oflices of the company, so far as selling is concerned, have been closed. The company had branch offices in Los Angeles, New York, Buffalo, De- troit, Milwaukee, Philadelphia, In- dianapolis, Cincinnati, Columbus and other Ohio cities. It s understood several of the offices, especially thuse in Los Angeles and New York, will be operated as separate eompanies by ofcials who were in charge. Reorganization of the company has heen under way for several days, Josiah Kirby, founder of the concern, resigned as president Monday night at the suggestion of a bankers' commit- tee from which the directors sought advice. He characterized the entire affair as a personal attack upon him- seif. ERIE GIVEN MORE TIME. By an order of the Interstate Com- merce Commission today the Erie raflroad was authorized to extend the maturity date of an issue of $4,617,000 in outstanding bonds for a period of ten years after March 1, 1923. The securities are a direct obligation of the New York and Erie Railroad Com- pany, which is a subsidiary of the Erie system, and an indirect obliga- lon of the parent corporation, ithe | Manuracturers of wor | b1e Ol and j Rrowers tgover, tall charges, 1 Anacost | Cavital Traction { wash | Washingt PITTSBURGH, February 16.—Win- dow glass plants are making ship- ments today at a record rate. All lines of glass are strong, with plant output of plate glass quickly taken. The automobile trade is still absorbing tremendous amounts of plate glass, DULUTH, February 16.—The Bridge- man-Russell Butter Company announced today that it would construct at once a $200,000 plant with $175,000 worth of equipment at Long Island City. The plant will emp'sy 150 workers. CHICAGO, February 1 not very satisfuctory today in pack- ing house products, alth ugh a slight improvement is noted in cured meats. Export trade is dead. Trade is NEW ORLEANS, February 16—The | more tender blooms on the strawberry plants in Tangopahoa parish, prob- ably the largest strawberry producing center in_the United States, were pinched off by the recent cold spell, but the plants were not injured, and new blooms still will take place of the old. Ripening and shipping will be late, however. DALLAS, Tex., Februavy 16.—East Texas strawberries are today coming on the market in good quantities and Sell from $4 to §5 a crate. Bast Texas fruit trees did not suffer as a result of recent storms, and prospects for a vrofitable yield are bright. PHILADELPHIA, February 16— rPet manufacturers are actively in the market today for cotton yarns for delivery as lat> as August. Some numbers are obtainable around 43 to 44 cents, which it would cost 45 cents to replace ut present cotton prices. A Eoud business s “being handled corubed yar Okla., Picher produced more February 18, Company. Which has than $16,000 000 In lead and zine from its properties in tri-state lead and zine field. to is preparing to extend its plant operations, ~The and WANSAS CITY, Mo, Fe bruary 18. en’s and men's reported tod; that cberating at capacity. There ular activity in the factories wearing apparel they we is par making working i SHARON, Februg ard Tank Company der for thirty ca Tar Products ( will cost about § STE. MARIE. February 16 el men here declared today that ies of anthracite at_upper lake will be exhausted Ly March 1 at from then until the opening igatior, the northwest wil o depend on bituminous fuel. The Stand- hooked an or- © the American any. The cars 10,000, SAULT = supy; ports and t of n have . February 16.—The No- s Compuny is operating plant at capacity to- urning out from 31.500 1040000 gallons of oline daily torage tanks for 1.000 000 gallons have just becu completed by the com- pany, QUAK, Okl sorption day and is SAN ANTONIO, February 16.—Rio Grande valley vegetable growers sus- | tained heavy losses as a result of re- cent fruits storms, but ralsers escaped unharmed. did not fare sxo well. The antaloupe crop will be delayed but not injured by the cold. SUGAR JUMPS IN PARIS. PARIS, February 15.—The enomenal rise in the pr < occupying the atter ent and parlia. of _citrus. Tomato sudden s of sugar jon_of the ent. The gov- proposes to cope with the by lowering the customs prohibiting the export of Iembers of the chamber of committee on speculation expressed the belief today that spec- ulators were influencing prices. and consequently the committee is inves- tigating, with a view to requestin the minister of justice to start pr ecutions. ATLAS POWDER REPORT. ernment situation duties and sugars. deputles after aliowing for iciuding interest and taxes, was shown in the annual re- port_of the Atlas Powder Company for 1322 This represented a return of $15.63 per share on the common stock, after payment of the usual 6 per_cent dividend on the company's preferred stock, as compared with a return of §1.71 on the common stock in 1921, when net income was $634,454 S Washington Stock Exchange SALES & Fie 5 at Washington Rw Te. B oat Tah,, ton Gas Light G ut 537 Security and Trust Compuns—10 2 at 33%. 4 ar 3 AFTER CALL. Capital Traction—5 at 1013, at 101, 10 at 101, 5 at 101 Washington Rwy. com—10 at 67 Washington Rwy. pfd.—100 at 743, Money—Call loans, 5 and & per cent BONDS Bid and Asked Prices, PUBLIC UTILITY Amer. Tel. & Telga. 4 Amer. Tol| & Telga. 4 10 at 101 American Tel. & Tel. ctl. .5 Am. Tel. & Tel. conv. 6s. Anacostia and Potomae 5, and Potomac gual &P, Telephone s. €. & P Telephone of {: A Suburban 3% . Elec Elce. 5 . Ver. bx.. & Mt Ver. ctf. falt. & Annap. os. D. C. Faper Riggs Realts 5 Riggs Realts Security Ktor. Mk Wardman & safe Deposit 6 old Storage 5 ark Hotel 6s..... STOCKS PUBLIC UTILITY American Tel. & Telga......... Capital Traction. 2 Norfolk & Wash. Steamboat. Wash. Rwy. & Elec. com Wash, Rws. & Flec pfd... Terminal ‘Taxl com. Terminal Taxi pfd... .. NATIONAL BANK, Gapitall.... o 00 Columbia '; Commercial District : Farmers and Mecha Federal-American Liberty Lincoln s Washington .. - TRUST COMPANY, Securlty und Trust. tal Trust.. uts' Bank. 1 Saviugs and Trus| sh, Loau and Trus SAVINGS BANK. Commerce and Saving Fast Washington. e 18 | Security Savings and Commercial 245 Seventh Streel.. .- 173 ted States.. U Washington Mechanics! FIRB INSURANCE. TITLE INSURANCE. Columibia _Titl ¢ L Estate, = e MISCELLANEQUS, Columbla Graphophone com. Colambla Graphophone pfd. Merchants' Traosfer & Storage. Mergenthaler Linotype... 0ld Dutch Market com. 0ld Dutch Market pfd.. .. Tanston Monotype.... Security Storage... Washiogton Market.. Yellow Cab....... *Ex-div, i SHOW DECREASE Commerce Department Lays Slump to Economic Con- ditions Abroad. The country's exports during Jan- uary totalled $339,000,000, according to preliminary figures made public today by the Commerce Department, while oxports for December were $344,425,- Is viewed the decrease as due to economic condi- 384, Department offici tions in Europe. A much heavier movement of gold, particularly for export, was recorded in a Department of Commerce compi- lation of the gold and sllver move- ment during January. Gold exports for the month total- compared to $2,709.591 imports as against led $8:472.198 for December, amounted to $26.439,677 while $32,517,591, &old BY WILLIAM F. HEFFERNAN. NEW YORK, February 16. — Ol stocks attracted the greatest amourft of attention in today’s movement on the curb exchange. Operations for the rise continued in the Salt Creek issues and several of the reached their best prices for the pres- ent upward swing. Reallzing sales were endountered among the mining stocks that have been in demand recently, but of the coppers again moved upward, with a further advance in the copper metals reported. Ohio Copper reach- ed 50, and a rise of 5 points occurred in Arizona Globe. Gold Coin Mining was another that sold at its best of the season, Despite the denial by Standard Oil Interests that Standard of Indiana was negotiating to take over Gulf Oil on the basis of four shares of the latter for three of ‘Standard of Tndiana, both stocks moved forward. Gulf Oil led the independents, gaining over 2 points before the rise was checked. Salt NEW YOREK, February 16.—Follow- ing is an official list of bonds and stocks traded in on the New York curb market today: Sales BONDS. in thousande. andard group [ most | ebruary 186.—Net in- | 0! Iver exported in January totalled 21,002, compared to $6.913,200 for | December, and sllver imports $5,824,- 837, compared to $7,847,670. SLUMP CALLED SEASONAL. Wall Street Takes Drop in U. S Exports Calmly. Special Dispatch to The Star. NEW YORK. February 16.—The genuine forcign trade figures giver out today only covered the expor movement, but as such again went decldedly against the predictions mad. at the time the new tariff duties wen, into effect, that these would cause : serious fall in the foreign demand fo American merchandise. Tt is true tha the January total was $5.000,000 les: than that of December, and $41,000, 000 less than that of November. Bui this decrease is merely seasonal | The more nificant comparison i with the ths a vear ago. ane here Ju showsd ‘an increase o $61,000,000, where the December in- crease was $18,000,000. - (RAILROADS NEAR NEW HIGH EARNINGS RECORD Class 1 Lines Make Remarkable | Showing for December, I. C. C. Report Shows. mo pary Earnings of class 1 railroads in the United States during December cams close to setting a new high record for several years, according to complete returns compiled today from Inter- tate Commerce Commission records Because of the heavy volume of traf-§ fic, the total revenues from operatior { were $513.575.000 during the month, o 20 per cent more than in of 1821, and the H i net income was $79.- | 154000, as compared with $79.569.000 1 during the same month a y H This earning rate. it maintained for the year. would give an annual returr, of 5.15 per property | cording to a statement i cation of Raflway H menting on the re _ For the entire year of 1922 the met income of class 1 railroud: ciation estimated. was 3776, 0 which actually represented & return of 414 per cent on railroad capital and is still below tha level of earn- ings to which the Interstate Com- meres Commission has declared ratl- roads entitled by its fair return standards. In 1821 the net fncome o1 the same roads was $615.945,600. Al railroads having annual revenues in excess of $1,000,000 are enumerated in the class 1 compilations, and the totals given represent the earnings of more than S0 per cent of the entire rail mileage of the country JOHNS HOPKINS SCHOOL i TO DECIDE ON McKOIN f BALTIMORE, Md.. Febru 16| Facult members of Johns Hopkins Medical School will meet within a | few davs, it has been announced decide on the readm of Dr. M. MeKoin, former mavor ot Rouge, Ta. Dr. J. Whitridge Wil- | lams, dean of the school, stated re- | cently that Dr. McKoin had with-$ drawn his application in order that | the institution would be saved from | undue publicity, a8 a result of his| ibelng implicated in the Morehouse parish disorders of last August. It was learned later, however, that Dr. McKoin will renew his efforts to gain admission to the school, whicl ho left last fall to return to Louls. fana and aid authorities in their in- vestigation. He now is at liberty on $5.000 bail. The physician stated that he knew nothing regarding fii- ture developments at Hopkins but intended to stay in this city “indefi- nitely, as I have some practice here: CLOTH PRICES UNCHANGED. NEW YORK, February 16 (Special). —The general market for cotton cloths today was extremely quiot, no one construction coming in for any speclal attentlon. The raw silk market was quiet here but very firm. Yokohama reports showed no changes in that market, but equal strength with that shown'here. Extra and best No. 1-X_advanced 5 cents a pound here, to $8.70 and $8.65, respectively. NEW YORK EGG PRICES. NEW YORK, February 16.—Eggs, uneasy: receipts, 16,242 cases; fresh | gathered extra firsts, 41a42; do., firsts, 3815a40; New Jersey hennery, whites, locally ‘candled, extras, 50; do., un- | candled, 48a30; state, nearby and near- {by western hennery, whites, firsts to fextras, 421247; stats and nearby hen- Inery "browns, extras, 44ai6; Pacific | coast whites, extras, 16a47; do, firsts to extra firsts, 42%a4; refrigerator | seconds, 32a33. cent used for on the value of all transportation, ac- of the Asso- utives, com- E BAR SILVER QUOTATIONS. LONDON, February 16.—Bar silver, 30% pence per ounce: money, 1% per cent; discount rates, short and three- month bills, 27-16a31 per cent. NEW YORK, February 16.—Forelgn bar silver, 63%; Mexican dollars, 48%. PARIS MARKET FIRM. PARIS, February 16.—Prices were firm on the bourse today. Three cent rentes, 58 francs 5 centimes. Ex- change on London, 77 francs 85 cen- times. Five per cent loans, 74 francs 50 centimes. _The dollar was quotad at 16 francs 58% centime. LEAF TOBACCO. BALTIMORE, February 16 ke celpts of 65 hogsheads and sales of 85 hogsheads for the past week are re- ported. Prices held firm at former quotations. Prices per 100 pounds—Inferior. and frosted, -3.00a4.00; sound common, 4.00a8.00: gdod common, 9.00a17.00; medium, 18.00827.00: good to fine red, 28.00a50.00; fancy, 52.00a53.00; seconds, common to medium, 4.00210.00; sec- onds, good to fine, 11.00225.00; bay tobacco, fire cured, 15.00855,00; upper country, air-cured, nominal; ground leaves. new, 2.00a20.00. N. B—Uhsound and badly mized packages from 1 to 3 cents Idwer. Stocks in hand—Maryland, 5,734; Ohlo, 2,532. Total, 8.266. Ground leaves to date, 267 hogs- heads. * Allied _Pa Alum 7s new Au Anaconda 7 ndn 65 .. 29 Armour & Co 7k.... Armour of Del Higy. Atlan G & WISS os Beaverboard S ... 11 Manitoha Sty 73 halt 8. runk flga. Gulf Ol of Pa as food Rubber 7s ... & E ity Pow Lt 38 i« MeN & Louiscille & E Prod 1 Manftoba Prod 33 Teather Ch & StOL s NY Ch&S L és G Mhio Power x B & Lt 5 Pub Sears R Shawsheen hwest Bell 787 wifr & 5 5 Un Ry of Hav 7 1 Vacuum Ol 7 31 Swiss G December | 230 An 900 o 700 200 0400 Govt s..LL vt Gy S of Mexico 4s e 561 o7 0 100 104 1011 ¢ STANDARD OIL ISSUES o-Amer 0l . Tobos ve PIL “ontinental il ent P 1. At Im 1 Int, <5 ) 18 1300 100 05 w00 0 Sales 10 12 0 38 110 5 Glen 2 1 16 19 o0 0 13 338 300 10 160 42 20 23 2 R 52 33 28 34 60 19 365 18 ] 150 Olfo Ol Pratrie 01 Peon Mex F Prairie L. n 0l PL. funa . Kansas new S 0 Kent NY Vacoum Oil new INDEPENDENT O1L STOCKS. u hundreds. Allen’ 0il ... Ark Nat Gas Big Indian 0l <ton_Wso 0l Carib syndicate Cities Rervice Cities Service ped. Citles Se; B cfs o Syndicate « et oil Rock 0i1 Gl oil of Ta Hamphress i1 Hudeon it Tnrris Cons Pei Keyatone Kanger Rirby Tet .. Yance Creek Tatin Amer 0f Livingston Lowrs Oil Lyons Pet Magma 0Oil Mammoth Oil Mariand Maracaibo Ol 2 Merritt Oil . Mex 0l Midwest Mount Prod Mount Gulf Mutual 01 Noble 01 & Nob 01l & Ohio Kanger Omar Ofl & Gas. Penn Beaver Oil.. Pennock Ol ..... ABICOD 2. . oohse Salt €k Cons 1100 Salt Ck new ... Sapulpa Refin ... Seaboard Ol © 18 w 19! 4 Sonthern P & R Son States 0il Teson OIY Turman Oil Wilcox 0il & INDUSTRIALS. Acme Coal . . Acme Pack 2 1 Alum Mfg ... a8 12 b d EY 3 18 2 10 1 9 10 1 10 15 1 1 1 20 150 4 1 Hocking Valley Auto Knitter Hos. . Am Cotton Fab pfd Am Gas & Flec.... Am Type Founders: Ar Co of Del pfd.. Atlantic Fruit ... Borden & Co ...... Brit-Am Tob Co con BritAm Tob Co rg Bklsn City R R... Buddy Buds Caracus *Suga Cellulold Co pfd. Cent Teresa 2 Charcoal Co pfd. .. Cent Rib_ Mills pfd: Chicago Nipple . Cleveland Motor Columbian Carbor Cox Cash_Stores. Cuyamel_Fruit DL&W Coal Dort Motor Dubilier € & T Durant Mot Durant Mot of Tnd. Film Inspectn Mach Gardner Motor ... Gillette & R. Glen Alden C Goodyear Tire ... <Goodyear Tire pfd. . Household Prod.... Hesden Chem - Prod .6 Hudson & MR R., T 3 3 8 1 n 14 17 2 1 1 18 &% 14 13 o [ 17 3 2 9 B H Tiydrox Corp ... Hudson Co pfd.. . Jmperial Tobacco. .. Tuter Contl Rubber. Lehigh Power Sec.. Lupton F M 2 Mercer Motor. . Mercer Mot vot cfs esabi Tron......... Dept St 78 ist pt t Sup Co of Del. ew Fict Pub Co.. N'Y Tel Co pfd. rless Mot..... aige Motor....y... Phoenix Hoslers'... Phoenix Hosiery. pfd dio Corp..... adio Corp’ ptd. Reo Mot ... Rosenbaum Grain Schulté Stores R0 O & Stuts Motor . ¢ Technical = Prod Tenn Elec Power. Tob Prod Exports Todd Rhip A Tntd Prof $h'new. 6 31 233 100 178 98 "y 2% 114 9% 13 13% » 13% 51 51 Creek iasues continued their upward movement, with substantial advances in ®alt Creek. Predugers and Salt Creek Consolidated. Big Indian Oil and Gas established a new top on ac- tive trading. Wilcox was in demand ust under 10. o andasa of Kentucky was u featuro among _the’ Standard Oils, establishing a new high record around 102. The ad- vance in_the Indiana stock amounted to about a point. while Prairie Oil and Gas was up 10 points at one time. A Jump of over 3 points took place in Ohlo bil. ¥ & Towns capital stock and Great Western Sugar, old, were removed from trading. ~Chicasaw comman and preferred were also stricken from the list. Trading started today in Hum- phreys Oll, first sales taking place at 90%. After the continuous rise of about forty points in the last few weeks, Yel- low Taxi of New York broke badly for a loss of almost twenty points. How- ever, in the afternoon some of this was regained. Indust stocks generally displayed an irregular tendency. Candy “td_Shoe Mach Cor P8 Lt & Heat.. S Lt & Heat pra Ttah ‘Taaho s Wasne 30 11 14 aty MINING Alaska Brit-Co Am Commugd 3 Ariz_Globe Coppe Dig Ledge .. verns Cop pfd. nario Copper Candelaria Min Columbin rald Continental Mines Con Vop Min tem o ns Nev Utah Prov Min Frez S oor vivide Exiension lores Eaper - reka Croesus el Mi Silver Hollinger Heela Mine Hows Mehin Mamm X' York Torcnpine. Nevadn Ophir. . Niptasing 5 Ohio Copper... Ray Vlercules T HIIL Flo x Con i Copper Rechexter St fiver Quoen M€ Silver M of Amer Silversmith Mines Simon Siive Spearhead Gold Shecess Mines . Mines Boston DIVIDENDS. _Feb. 28 Mar. Mar Apr. Mar Mar i Co it pr, Rand Mines Fe. 20 Texn ) a s “Mar. 1 Feb. 1 % Fob. 28 Tnited Ktates Gypsum. 0. 1% Mar. 15 United States Gypsum pf, a 16,% ... s Mar Mar. 10 SHORT-TERM SECURITIES, (Quotations furnished by Redmond & Co.) —Noon.— Bid. Aluminum Co. of Amer. T Aluminum Co. of Amer. T American Cotton ON s 1 American ; American Rwerican closed After Dividend Payments of $8,139,248. By, soctated Press. . NEW YORK, February 16.—A sur- plus of $2,113.425, after paying divi- dends of $8,439,248, was disclosed in the report of the trustees of the Mackay companies -for the eleven months_which ended December- 31, 1 The company s the holding company for the Commercial Cable Company and the Postal Telegraph system. G In a statement accompanying the report, Presidetit Clarence H. Mackay noted ' the great advances made 'n radio during the past year. He de- lared that his company had elosed a contract with the Radio Corpora- tion of America whereby the Postal system accepted for the. Radlo Cor- poration all messages originating in the Unifed States marked via radio and in return the radio corporation turned over to the telegraph com- pany all messages received by it for delivery to land points reached by the Postal system. - “Practical operation of radio,” Mr. Maekay said, referring. to tranc- oceanic communication, “has been o suflicient duration to Jjustify the trustees in the opinion that,” while radio will serve as an Important ad- junet to submarine cables and wilt stimulate the ihcreased use of elec- trieal communieation, it will not re- duce the value of submarine cable property and submarine cables will continue pre-eminent in the fleld of transoceanic communication.” Dependable Service RENTS B.F. SAUL CO. 1412 Eye St. N.W. Phone Main 2100 We have on hand gilt- edge first trust notes se- cured on approved north- west property. Moore & Hill, Inc. 1420-22 H St. NW. Co-Operative Building Association Organized 1879 43@a YEAR COMPLETED - -84,657,969.50 $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 ghort time. Subacriptions for the 84th Issae of Stock Belag Recelved Shares, $2.50 Per Moath EQUITABLE BUILDING | 915 F St NV, JOAN JOY EDSON. Preaident FRANK P. REESIDE, Seey. From $100 to 3300 on D. C. real estate and Ronsehold goods or chat. tels. 7 per gent intarest. No bre- Kerage charked. Tar rour bills and owe onir one frm. rcial Lo & Finance Corporatien o 213, 881 (b5 Be B L0 =B ; l | { | | | lace it ilt-edye first record of 30 ye insures 7 % ‘Z,:‘." &:}:E:i\"? c“;" Gilt E‘;se Fi:st MtoPlMe acy nssell 0. nvestments SW. Cor. 15th & “K” s, || "2, Amounts of 250 Up Take Advantage of This The opportunity to get your #avings invested on a basis of 7% Interest s rapidly passing. Chas. D. Sager 923 Fifteenth St. N.W. Main 38 S.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 YORK WasHINGTON 405 Hisss BLDG. Telephone: Main 2655 Money to Lo Becured by first ueed of trust on real estata Prevailing interest and _commission, Joseph I. Weiler $2 Wass. L Livermore & Co. Members New York Stock Exchange 823 15th St. N.W. and Wardman Park Hotel $5,000 Life Policy, $43.85 Age 80. Rend date of birth for illustration Established 1865, Assets over . $200,000,000. M. LE ROY GOFF Insurance—AJl Branches Room 610. Woodward Ruilding. M. a0, Mortgage Money for New Building §. W. STRAUS & CO., the largest investment house in America di““ni !ndfi?‘t moni 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. Building and permanent loans are com| 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 W.STRAUS & CO. Taeorporated. Offcesin 4oCities. Established 1882 STRAUS BUILDING 565 Fifth Ave.—at 46th Street New York 41 years without loss to any investor 8 1923—S. W. S. & Co. Main 2790 Col. 2000 “BeforeYou Invest-. | INVESTIGATE™ i { If you want information about the DISTRICT GUARANTY CORPORATION the place to get it is where it You have the brains, we Come in and exists. have the facts, talk it over, WilliamBWestlake et Kot Washington Out of the Large Number of People Who Know How to Save, Few Know How to Inyest 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 A Standing Invitation “CONFEREL\'CES without obligation and in confidence are invited with reference 1o any aspect of the Trust Scrvice rendered by this Goodyear T. & at Northern 7% 1936 King Valley 85 1924 mble Oil 3lge 1 ¢ Raneas City Term. s 1633 Kennecott Copper 7a 1930, Libby. MeNeil & Libbs 7e 031, 5 R oot N Peona R X1, Paul Tnion Depot Sears, Roe Soniiwestorn Bel ard OI1 o Fidewaer 08 618 1 Union Tank Car Western Union_ 615 Westinghouse E —_— FOREIGN EXCHANGE. February 16, 1923—12:15 p.m (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value, today. - 48665 4.09 100 193 193 ‘238 193 London, pound.. Montreal, dollar.... Paris, franc.. Rrussels, r: Berlin, marl Rome, lira... Zurich, franc. Athens, drachmi Madrid, peseta... Vienna, crown. Budapest, crown.. P Wars: Copenhagen, cro Christiania, crown. Stockholm, crown. Company.” Every trust is different—depending upon the particular situation to be taken care of. The of- ficers in our Trust Department will point out ex- actly how our Trust Service may be adapted to meet your requiremchts. By the Associated Press. NEW YORK, February 16.—Foreign exchanges steady. Quotations: Great Britain, demand, 4.68%; caples, 4.69; sixty-day _bills' on banks, 4.86%. France, . demand, .0599%: cables, 06001 ; Ttaly, demand, .047814 ; cables, [0479; Belgium, demand, :0529; cables, 05291 ; Germany, demand, .000052% Ccables, .000052%. Holland, demand. .3953; cables, .3956. , demand, 1868: Sweden, demand, .2660; Den 1906; Switzerland, de Spain, demand, .1562;| Greece, demand, .0119; Poland, @e- mand, .000029; Czechoslovakia, de- .0296; Argentina, demand, .3725: Bra- 2il, demand, .1155; Montreai, .9 The Ameer of Afghanistan finds his chief amusement in cod i said to be a better chef tiio in his palace kitchéus than Lvery Banking Service 15th-and Penna. Az Capital and Surplus, $5,400,000.00 HOME SAVINGS BRANCHES ‘ 7th and Mass. Ave. < 8th dnd H Sts. N.L. 436 7th-St. S.W.