Evening Star Newspaper, February 28, 1923, Page 29

FINANCIAL., NCREASE S SHOWN TODAYS COTTON PREES Tz oo I BANK DEPOSTS| NERSHENT VL Richmond District Makes Good Gain—New Stock . Exohange Members. Savings deposits, as reported by 887 banks in all sections.of the United States, increased in January, except in the New York district, where & slight decrease was indicated. For the entire country the increase was §56,949,000, or 0.9 per cent over January 1, 1923, and $507,878,000, ot 8.7 per cent over February 1, 1922. With- drawals after the semi-annusl crediting of interest in January were more than ofset by deposits of proceeds, redemp- tion of war savings stamps and vic- Jory motes and increased savings re- sulting from continued improvement in employment conditions. A com- parison of savings deposits on Feb- ruary 1, 1922, with January 1, 1923, and February 1, 1922, are shown in the following: Figures for the Richmond district, " which includes the District of Co- Jumbia, show deposits on February 1, 1923, $284,707,000, as compared with $278,891,000 on January 1, 1923, and $254,299,000 February 1, 1922, New Exchange Member: The Washington Stock Exchange vesterday elected two new members, namely, Charles C. Glover, chairman the board of directors of RIggs ational Bank, and D H. Mc- j Knew of the firm of Hambleton & o, Mr. Glover purchased the weat of Willlam J. Flather, while Mr. Mo- Knew bought the seat of Daniel Fra- ser. The members of the exchange heartily welcomed back Mr. Glover, who held membership on the exchange many vears ago. Both novice were inducted with appropriate ceremonie: Appeals to Stockholders. A direct appeal to Washington stockholders of the Pennsylvania Ralflroad Company to use their influ- ¢nce to discourage further restrictive legislation against the railroads been made by Samuel Rea. pr Pan 4in & communication sent ott Pyrith the quarterly dividend checks. Mr. Rea sives as the opinion of the manage- ment of the Pennsylvania that the active influence of the stockholders <hould be enlisted since “it is essen- iial that your management be per- “nitted to operate your railroad on a business basis to make both ends \71eet, to earn a reasonable return on { your investment and to sustain rall road credit In order that new fund may be secured for additional trans: Portation requirement “Belfeving that the management of recommend and strongly urge stockholder to use his or her infia ence to prevent enactment of either national or state legislation which il further complicate the raflroad situation by Imposing upon the rail- ads an increase of unnecessary ex- <e and burdensome regulation,” Pie Siatement adds. _— Washington Stock Exchange ey o 155 af ;x 0%, 3 at 70%. AFTER CALL. Gapttal Traction—10 at 984 hin; R . pfd. Washington oy, & Biee S0g00 a¢ 81,000 ngton Gas 7i4s—$1,000 at 108%4. nEion finy. & Tise. il 100 vt 78, tal at 98, 5 at 08, 2 at 95. Light—30 at bington 50. BONDS Bid and Asked Prices. PUBLIC UTILITY. 4 American Tel. & Telg: American Tel, & Telgn. 414 ‘Amer. T. & T. conv. tr. 3. Am. Tel, & Tel. conv. 68 atis, & Potomac guar. Telephone 53 & & B Teiephone of Capital Traction R 58 Groeetawn Gas 167 Merropolitan R. R. Potomac Elec. 1st 5 Fotomae Elec. cons. Jotomac Elec. deb, Potomae Elec. Pow. g. m. 6. ¢, Elec, Tow, g i & ref. Alex. & Mt. Ver. bs. Washington ¢ Washington Gas Wash. Ruy. & 55 Realty ow (ohorh): Kncvrity Rtorage & Safe De IWash. Mkt Cold Storage ardman Park Hotel STOCKS PCILIC UTILITY Telg: 5 ‘ashington _Gas... . “orfolk & Wash. St Vash. T, & Flee. com vapital olumbia Ayommercial Distriet Tontinent: Merchant National Bavings nioa Tru American_ Security and Trust.. 1 Trust . ‘| was enjoy! American goreortn_ ... fremen's .. National Union. Columbla_Title.. teal Estate Titl fere Mergenthaler Linotype . um'mncn Market ‘com, 'ilhe Great Northern railroad 1 | will ;ifor a long time ahea o How He Escaped. Moderately Heavy Selling Ocours at Opening—Rain Report Keeps Tone Steady. By the Assoclated Press. NEW YORK, February, 28.—There ‘were reactions in the cotton market At the opening this morning, owing fo poor Liverpool cables and con- firmation of yesterday's reports that Lancashire spinners were consldering & proposal to work only half time during March. Futures opened fir: March, 30.12; May, 30.15; July, 29.15; October, 26,02, Duccmber. 25.45, NEW ORLEANS February 2 Modont.ly heavy selling cost the price of cotton 14 to 19 points in the first half hour of the session toda ay foll oft to 39.45. Poor umwol[ cables, further talk of half tim Manchester and a more general d(u- tion to take profits on long con- cts were the main factors in t ling movement. The tone W steady at the decline because of con- tinued rains in Texas and becaus ol private claims from that state planting was salready twenty! Iate in Its southern countrien Cotton futures opened stead March, 2 May, 20.58; July, 28§ Ootober, 25. and December, 26.30. NEW ORLEANS, February 2 — Noon bids: March, 29.97 asked; May, 29.67; July, 28.98; October, 25.85; De- 25.26. Steady. NEW YORK, Fch!‘ul Yy 28.—11:45 a.m. bids: March, 29.95; May, 80.1 October, 26.00; December, 25.61. Steady. July, 28.1 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY SAN FRANCISCO, February 2 Shipping men declared today that the sugar refiners of this section were due for a big y as the entire 1923 crop of Hawail will be shipped through this port. The movement of raw sugar to this port {s now heavier thu:l u'.d.nny time since the 1923 crop HOUSTON, Februury 28.—Sugar Wwholesalers today are asking 9 cents a pound of the retails and eleven-cent SEATTLE, February 28.—Sugar h: been mmped up 40 cents a hundr pounds h Wholesalers have ample tocks on hand today and retailers have not yet responded to the moves of the manufacturers, ATLANTA, February 25.—Jobbers of shoes, who supply the territory throughout the southeast have in- creased thelr forces of road salesmen in the last k to take care of the lxnlnflln( business. PITT!BUMH FebruAry 28.—Pr dent H. M. Keasby announced today that the Natlonal Fire Proofing Com- pany, which had been booked five months in sdvance January 1, had taken contracts for a large volume of business upon a satisfactory basis since that time, and that piants of the company were working s ex- wnl(::ly as shipping conditions would permit. DALLAS, February 28.—Recent ship- ments of sweetseed potatoes from northeast Texas have been very heavy, ¢speclally to Colorado, Oregon and Washington. DETROIT, February 28.—February was the eleventh straight month that Detroit retail dry goods stores showed an increase in sales over the cor- responding month a year previous. The increase in February was nearly 30 per cent above February, 1923, CHICAGO, February 28.—Distrib tors of ootton cloths in the middle- west reported today that business was exceptionally good {n ratines and ginghams. Prices for cotton clo(hs‘ are expected to advance according to expressions of ‘Marshall Field & Co., Farwell & Co. and Carson Pirle Scott. STAPUL, February 28.—Officiale of today estimated that the iron ore shipments {from the Minnesota ranges in. 1923 total 15,000,000 tons in excess of any previous season. PITTSBURG! l-’ebrunry 28. D1 quesne, Hom: nd other big cal negle Steel Comvlny plants in th district are operating In full today. Steel makers show capacity business ST. PAUL, ruary 28.—The, Northern Pacific rallroad s negotiat ng forty square milés of rich bit; mious coal lands in southeastern Montana and has arranged for a right of way for & branch line thirty-five miles long near Forsyth to cost $2. 000,000 to tap the fleld. Strip mining will be introduced for the first time north of the Iilinols flelds. PATTERSON, N. 1. February 28.— Mills here manufacturing fabric and siik gloves ars very active today and lally for the shortened l-nnh- ‘in_tan, white and gray, is e cellent. Mills manufacturing glove silk for underwear purposes are erowding production. Height of Laziness. From Everybody's Magasioe. A man traveling through the Ozarks of southern Missouri went into a small country store. The only man in sight, presumably the proprietor, ng his ease-at the back ot | the store, ir titled back and feet on the counter, and made no move to come forward. i The prospective customer waited a | few minutes and then called. “Can’'t you come and wait on i T am in a hurry to get started home. The proprietor shifted his position slightly and drawled: “Couldn’t you come ln some time when I'm standing up?” ¥rom the Guelph Mercury. “Did your wife go for you you got home late last night?" “No; for once I was in luck. The DEOYIQ in the flat next door were ng & spat llld my wie was busy listening.” Facial Traits Continued. From the Detroit News. It {s remarkable with what consi ‘when FOREIGN EXCHANGE. February 28, 1923—11:45 a.m. (Quotations furnished by W. B. Hibs & Co.) Nominal Selling checks sold value. 4.5665 BALTIMORE, * February 28.— The #wenty-fifth anniversary of the Mary- Jand Casualty Compzny will be ce brated tomorrow. The 900 employes at the home of will be the guests of the company luncheon and will attend & celebration in the clubrooms. The directors wlll be entertained at esident F. Hixh, tency istic features appeal In nncrnlon er generation ol the mily, ¥ queér noses, Tips and prom A Qassio example 18 the facial type the burg dynasty, disth fflllhed by a jutting jaw, tmck lower D and hnllln: eyes. first ‘appeared aw with Rodelt T and his descondant Ernest I, Leopold III, Ferdinand It and Maximilian I _When the latter married Marie of Burgundy the sec- ond peculiarity—the lhlok llp and prominent nose—was scquir A scientist named Gall tepe -malm of this house and sho characteristics perpetua M themselves through yea: nd through intermarriages Into Spanish, Portuguese, French and Italian lines. Shunning Publicity. From Boston Transcript. - “And shall I spesk to your father, eares "Yes, but for goodness sake, don't ‘say a word to mother. “Why not " ‘Because we don’t want the engage- ment mads public for two or three days yvet™ THE EVENING STAR, WASHINGTON .D NEW YORK CURB MARKET Recsived by Private Wire Direct to The Stsr Office. BY WILLIAM F. HEFFERNAN. NEW YORK, February 28.—Per- sistent: rumors that favorable divi- dends action will be taken in the near future by Reo Motor Car directors were . reflected In active trading at rising prices in this stock today. Reo reached a new high for the year. Professional operations bid up Cleve. land Motors to within a half point of its.top of 1933. However, outside sup- port was lacking and the stock quick- 1y lost most of the early gains. Opera- tions for the rise w again in evi- dence in Durant of Delaware. The market generally was less ac- tive. Mlnlnf ocks came in for con- siderable at an(lon. the coppers being elped by the return of Anaconds to the dividend 1 o Copper 60. United Verde extension advanced NEW YORK, February 28.—Follow- |l an official list of bonds_and oc 8 traded in on the New York Curb Market toda; thonsands. 2 Allied Packes 8 Am Lt Ga w't 5 Am Sumat Tob 7 ing 4 Ce IR 'S n Gas Balto ‘ons Testiles Gen Asphalt 2 Grand Trunk lfl Guif 0fl of Pa Hood Rubber 7a 0155 3 H Centear Refls 5 m‘ 9 K 't C T FEE il §33285 3E8=5FERcAgEREENs FF FF 10 siexfean, Gove 6e § Republic of Pern 4 24 1 Russhn Govt 3 Bwisa. Gove b lme:" STANDARD OIL ISSUES. n 133 Bourne Scrymuer .. 138 40 Buckeye P L. % 100 Buck 1 PL 70 Imp OH of Indiana P T. 00 Inter Pet (o, Tdd. nolia 0 N Y Transit . 500 Ohto Ol new 5 Prairie Ol & Penn Mex Fuel . 85 P L Pet 85858 5§ ] INDEPENDENT ndred 2158 arib Syndicate Citles Service Cities Bervice 6 1 Clties Bervice B cfs .19 23 Creole Sradicate . ivingston Pet. 2 Lowry oil 8 Acme Coal - cking 18 Ao Kaie. Hose 1 Amal Leather . - over a point and* Continental lllnu moved up. Hill Toj 2 Nevada sold its Dest prices for the pressnt move- B o e T R S 8 3 a1 M Tesult én_an in- cr‘u in_th Ilv Oil, was bid up, sroup ald eolnw-nvoly little. A dlock of 1,600 on reports that divi taken in the .near future. Sute B ‘Sha Mammoth were othérs of this _group that reached gher levels. Reallzing sales were emcoun- tered in the new issue of ln‘WM“" resulting in a loss of A feature among industritls was the ptional strength in National Sup- ply of Delaware. At the closing Tues- dl! it was at 63%. The stock ran up nothing new § Galam e ‘g-»ur 48 20 Caledoula oa ds 1o! * Mises on Min tem cf 104 Corces "gliver Crown Rese: B wak B b Lo 23hLaRYREIRERE 2R LY FTLLE T LR 40 T a0 Hill Top o35 Hollinger | s lim- Mine g & FIR-L N UL o B e S Morington National Tin New Cornell RIVERDALE. Februnry ] (Sucm). —The board of edu of Prince Georges county ha recommended to the county commissioners an appro- | priation of $5.000 for the completion of the Riverdale schools. has urged Supt. Orem ndorsemen [tric Company has promised to erect hel ;l Aler Gan s 1? G & E ne 'Co Del b Argold Cons Co Atlantic Fruit ... Brit-Am Tob Co cou 5 Beie Am Tab Co reg 2 Rkl R R 4% 3 Centrifugal Ir Switch 1 Hall Switch ptd. 2 Hudson Co pfd .... 1 11 Inter Cont'l Rubber 6% 1 Lehigh Pdwer 1 3 41 Nat unpn ‘co ot ‘Dei 2 New Fict Pub Co. Oselda_Corp a substantial loading platform at the rmination of the second fare zone opposite the B Frankk Grafiin of the Dniversity of Maryland has been chosen assistant scoutmaster of the local troop. A special meeting of the ways and means committes of the citizens’ as- soclation was held at the home of Willlam Keenesi on Monday evening. The town council has appropriated 3200 toward the fund for the placing of street signs, and plans were made for their erection. Houses are to be numbered als UPPER MARLBORO. UPPER MARLBORO, Md., February 28.—Friends of Richard B. B. Chew, jr. are urging him to enter the lists for the republican nomination for chief judge of the seventh judiclal circuit. Many others, including Repre- sentative Svdney E. Mudd of the fifth congressional district, have been men- tioned in connection with this nomi- The infant daughter of State Sen- ator and Mrs. G. L. Sasscer, who has Bean ‘oriticatly ill i mow much, 1at proved. Aquiila T. Robinson, vice president of the First National Bank of Bouth- ern Maryland, who has been ill, was able to attend a meeting of the direc- ors. Mrs. Ruben Edlavitch, wife of the Upper Marlboro merchant, was op erated on for appendicitis a few davs ago in a Washington hospital. She is recovering. BABY WINS FLORIDA PRIZE. Special Dispatch to The Star. WINCHESTER, Va. February 2s. —Fatsy Sheppard Ridgeway. eleven. month-gid daughter of Rev. and Mrs. Frant T. Ridgeway, formerly of Stephens City. but now of Homestead, Fla, won the blue ribbon at the third annual bady show held at Royal Palm Park, Miam{, Fla, several days ago under aurplce- cl (ht Order of the Eastern eceived prize & dnlnly llflnl n( pear! —_——— Passing of the Bison. From the Butte Miner. The American bison owes its almost 8'5 ! complete extinction to the coming of the raflway. Previous to 1867 what was known as the universal herd oc- cupled the whole pasturé region of the west, nflorfllnx food and clothing to_the Ind! lnl. r the first transconti- uwAy Wwas flung across the stat tting the herd into two por- tions, known thenceforth as the southern and northern herds. The southern—ths larger portjon— ing of several million head, wi lollll{ exterminated by hunters during 187 and the northern herd was, with & few exceptions, accounted for olweu\ 1880-84, .|Gooa miadiing, 1 before the; WEDNESDAY FLBRUARY 28, 1923. _LIVERPOOL COTTON. ' LIVERPOOL, February 38.—Cotton ~—=8pot, limited demand; prices steady, | 0; fully mldflllnl’ 16.45; middling, 16.35: low middling " 10; good ordinary, 15 Bales, 5,000 bales, Am m:u Recelpts, ‘li lmlnfiu 1,1 m American. ~Futures closed easy; March, 15. May, 18’ 1581, October, 14.11; December: ll. S; January, 13.64. joon official closing: February, 15.90 value. ——d WOULD POOL CARS. ClNCINNATl. February 28.—A pool raflro ght cars is the flroad freight is the only phn that can prevent government ownership of e raliroads In this gountey. declared Milton W. Harrison, | ‘ork, vice president of the Ni tional Association of Owners of Rail- road Securities, before the Cincin- nat! Chamber of Commerce. MOON MOTORS' INCOME. NEW YORK. hbruuy 28.—The Moon Motor Car Company returned & net income of n'ul 1 for the year 1922. 77,675 in 1921, the pany’s nll report disclosed. TM I'll income was equivalent to $5.01 per share on 154,213 shares of no par value, compuared to 50 cents per share the pmedln. year. S.F. Bonds so designed 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- view of bonds contain- ing Sinking Fund pro- WasuinaTon 408 Hizss BLoG. Telephone: Main 2655 TR afe Security ound Methods atisfactory Service —are outstanding elements of the desirability of investing in our 7% First Mortgage Notes Desirable investing depends golely in judiciously selected securities. We value highly our record of never a loss of as much as a eingle penny in either prin- cipal or interest. Notes now on hand in de- nominations of up to ,000. Certified Title furnished with _each purchase. Collect- ing, remitting Interest and ail detalls attended to by our Loan Department. Chas. D. Sager 923 Fifteenth Street N.W. Loan Dept., Main 36 | i Over a Quarter Century Specializing in RENTS B. F. SAUL CO. 1412 Eye St. N.W. Phone Main 2100 Construction Financed at Prevailing Rates 'WE are in the market for con- struction loans in amounts of $200,000 and up, to d:fl: financing new and office in the larger cities of the United Seates. Prompt action on. Write for details and ask for BOOKLBT L S:W.STRAUS & CQ 8corporatad. Ofices1n 4oCitien. Retabliabed 1082 usmm-.'—%s- New York ;41 years without loss 3 nn—: fl'fc':'f' 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. E‘:‘n‘! on m-d‘. w record of 30 your SW. Cor. 15th & “K” Sts. R Wanted n Apartment House For Immediate Purchaser Will Pay $100,000 Give particulars as to rent, trust and expenses Stone & Fairfax 1422 New York Ave. F |rst Mortgage Loans Lowest Rates of Intérest and Commission. Prompt Action Tho J. Fisher & T e u.‘:'.'f""'“” fnc. Livermore Members New York Stock Exchange 823 15th St. N.W. and Wardman Park Hotel DURANT MOTORS, INC., OF DELAWARE Approximately 20 to 40 Skares of Escrow Certificates Address Box 196V, Star Ofice. Co-Operative Building Association Organized 1879 43d YEAR COMPLETED Ansets . $4,637.859.58 Surplus $1,190,580.91 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. Subseriptions for (he 84th Issue of Stock Belag Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. R e FINANCIAL. THREE IMPORTANT STEPS TOWARD FINANCIAL INDEPENDENCE 1. Making Money. 2. Saving Money. 3. Investing Money—Saiely. Unless you safely invest your surplus, you will fail secure dependence. Our to financial ine Over a Quarter of a Century Witlout 6%2% FIRST MORTGAGES offer safety of principal and a good return. a Loss In amounts of $250.00 and up. B. F. SAUL CO. Main 2100. 1412 Eye St. N.W. Dean, Onativia & Co. Stock Exchange Building New York COTTON GRAINS COFFEE SUGAR STOCKS and BONDS MEMBERS: New York Stock Exchange Chicago Stock Exchange N. Y. Produce Exchange Associate Members of \Imneagohs Chamber of New York Curb Association ommerce WASHINGTON OFFICE: Main Floor, Woodward Building Office -Open Until 5:30 P.M. Phone Main 2040 JOHN CALLAN O'LAUGHLIN . CHARLES R. ALLEY Asslstant Manager Y. Cotton Exchange Chicago Board of Trade Philadelphia Industrials Philadelphta—The World's Workshop—offers abundant opportunity for diversity of investment. Stone Safeguarded Securities are carefully selected. Only established successful con- cerns with a substantial margin of sound assets over liabilities and with unlimited possibilities for commercial expansion, are chosen. Thorough investigation, valuations, appraisals, audits, and surveys are made by expert eagineers. Stone 4-Point Securities 1. Safety Engineer: Sllr;.ly of Yield—Dividends Guaranteed by Stabilizing s 3. Quick Convertibility—Resale at Par with Accrued Divi- dends. of Principal—Companies Managed by Stone 4. Profit-Sharing—Retired at Premium with Accrued Divi- dends and One-Quarter Share of Common Stock for Each Share of Preferred. H. A. STONE & COMPANY Philadelphia Messrs. Crowell & Guthrie, Managers Room 230, Munsey Mllln“.m;\uilulo-, D. C 7. PRODUCERS HERE is no place in the scheme of things for the man who is not a producer. Yet production alone is not enough—it’s production properly handled that spells success. No matter what yox earn, you must also build up a reserve. During the past the customers of the American Security have shown themselves to be producers. They have built up a reserve of over twenty-four millions on deposit. COMMERCIAL Every Banking Service 3% ON SAVINGS . 15th and Penna. Ave. Capital and Surplus, $5, 400(X)OOO HOME SAVINGS BRANCHES 7th and Ma:.r. Ave. 8th and H Sts. N.E. 436 7th St. S.W. T S S S YO i e ST S O SR i