Evening Star Newspaper, March 3, 1923, Page 11

. FINANCIAL. THE EVENING STAR, WASHINGTON, D. ¢, S e _o . ' Home Trade Conditions Biggest | TIBACCO SEASON ENDS. Financial Factor During Week|™ " ey comues. DANVILLE, Va., March 3.—The Co- —— operative Marketing Association hasan nounced that the local tobacco delivery ouse will be closed on March 81, by Less Anxiety Over Europe—Public Re- ThiEh me 1% 5 ‘expected il tobacso ih he hands of farmers will have been de- livered. It {s understood here that the mains Cautious—Coffee, Cotton and |iver houses at Chatham una Gretna also will be closed on that date. The auction season will close on ugar Prices Score Gains. thowed & towe) ot ZRULI 0% neanieoF tobacco have been delivered since the MARCH 3, 1923. FINANCIAL. iy LOANS If you have money to invest, we can - safely it Blacec. it on gilt-edge firs EQUITABLE(| Co-Operative Building _ Association Organized 1879 434 YEAR COMPLETED $4,657,050.56 $1,180,880.91 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 From $100 to $300 on D. O. real estate and househoid goods or chat- tels. 7 per cent interest. broker- Pay your bills and owe Mortgages. Our record of 30 years insures your protection. Courte- ous treatment. Percy H. Russell Co. || SW. Cor. 15th & “K” Sts. |' OU will feel happier if you make a safe investment for your family. Your financial responsibility as head of the household will be lessened if you in- vest in our First Mortgage 6% Notes, PSR £ IO season opened in October. The average secured on improved Washington prop- 1 | | g prico bald was 3145 ber 100 pounds, the | || time. = ————————————————— | erty. BY STUART P. WEST. ent moment. The check to the Up- steement dlows Subscriptions for the | afe Security | ward movement, so far as now can . . s, . &pecial Dispatch o The Star. be scen. is mot likely to come from 84th Issue of Stock ound Methods Our experience, our tireless investi- 2W YORK, March | SR Being Recelved atisfactory’ Service S—Interest in|the outside. Nothing conceivably can | [Fjpgt Mortgage Loans the financial situation this last week | happen for months to come to leasen r gation are behind them. During over hae converiged almost entirely upon | the favorable aspect of home trade | Lewest Bates of Iaterest and Commission. Shares, $2.50 Per Month De artment —are outstanding elements of half a century not one investor has lost S s s conditions. Unpleasant developments Prompt Action y P | the desirability of investing & A A of home trade, with its|abroad are possible, but not prob- . a penny in principal or interest through in our expanding production and |able . Finally, whatever ultimately | nomas J. Fisher & Company, Inc, our mort, . ed rise in commodity |may happen if speculative expansion gage: EQUITABLE BUILDING 915 F 5t. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. tihe contin bl e keeps on, the money market shows no M prices. What this means is, o, course. | {680 (0. the moliey narket shows ne oney to an that the country’s industries are get- awhile. ) 7% First Mortgage Notes Deeirable investing depends lely in judiciously selected e ities. We value highly our record of never 4 loss of as much as a single penny in either prin- cipal or interest. Notes now on hand in de- nominations of $250 up to $5,000. Certified Title furnished with each purchase. Collect- remitting. interest and all attended to by our Department. We specialize in these Notes. They are part of the actual closed first mort- gage on a specific piece of property. Interest is paid semi-annually, on the day it becomes due. MONLEY TO LOAN A’ ting all the time upon a more and] The halt in the Upward movement | B6Urgd by frat deed of trust on real estate. 6% and 6):%—Liberal i Fofitable i - |is much more likely, therefore, to be 420 Wash. L. & Trust 1 2 E Bl g more pr (rm.‘ul basis -annT it l:‘r;clus‘ Frre g AL I O D Joseph 1. Weller §20 Wash. L& Trow ]u(u.h on an economic 1l nition of this that is the chief Im-|jet igelf. We saw this happen three | m—mmm—————————— = = D7 S | | . N, Unreasonable pulse back of the present stock mar-)times in 1922 alone—in June,, in September and again in November. delays. Ask for MR. i HAYNES Such check as was given by the|On each of theso occasions there w: Gal dmel & Dent raising of federal reserve discounts[DO change for the worse in the situ- | Inc. s0 . week ago proved to bo only transi- fation —outside, no tightening of The supply of funds available|credit. no occurrence of any sort te culative purposes has still been | diminish confidence, yet prices fell © %and rates for call money | With considerable violence. The rea- srked somewhat lower. |80n simply was that Wall street en- 4l standpoint therefore, [deavoring to anticipate the re- there his been no reason to fear any- | Sults of trade recovery upon company thing in the direction of the money | €arnings, had gone ahead altogether | 53_Years Without Loss to an Investor MORTGAGE MQNEY 5% and 6% The Family Investment Swartzell Rheem&HenseyCo, QOO H S UL market too fast, overspeculation had ensued 717 14th Street N.W. 1 " - 5 and the sequel was a drastic process B . | Rin Chas D S | l th s n:::' \J‘:\\\I"' 0‘-:“‘\“::; tne | ©F correction. e An unlimited amount to loan on desirable NG - > ager | t)’eetN_W. wniformly favorable reports {m;..! ':'lh Prices May Be Exnggerated. hotels, office buildings, apartments or centrally i Main 4884 President. 924 Fourteenth St. NW. the business rs, what little N other quarters besld a i ies i rashi ) ‘ | i mient miee ibertHenerataeal|stonl, Soxcianpa it s e o] located business properties in Washington, D Loan Dept., Main 36 Sthe 2 e opean rtainties has been | Whether the natural tendency toward in amounts of $100,000 and upward. | AlniunnnnnnnnnnunnnnE It A seen, as it was | higher prices has not been - exagger- i th that there is little jated by speculation. This question | il LOW FEES PROMPT ANSWERS i EARLY CLOSINGS HANNON-& LUCHS| || 713 14th St. - wur ‘resulting from [may be asked about the cotton mar- Versy in the near east and |ket, the sugar market and the cop- ¢ outcome of ‘the, per market. It is perfectly —under e in th . there ndable that consumption of cotton hat it w Ving been checked by the high | and with two successive years | lof short crops. an unusually strong | groundwork has existed for the up- ward movement. stocks, on the other| Still the time is coming when more +» rapid and extensive | thought will h. to be taken of| Is the extraordinary inducement which | 130-cent cotton will have toward in- | creasing the acreage nted to thei {new crop. If there is to be a big pretty clea " addition to acreage and the crop gets | appearcd n off to a zood start, maintenance of rumors accompa the present price level will be ex- tremely dubious. As to sugar conditions, there 1s a ublic Not Heavily Involved. Wide diversity between estimates of e e wets| the size of the new Cuban harvest D O e eon great deal depends upon whath- e e A D aneton, | °r,the higher or the lower of thess i ux h a g al of suspicion. | o es is the more correct. In the ~N , is, however, a decided differ- | meantime it {s a fact that statements @ [ “M\v:‘n\ seo rll‘:"‘n'r-wm‘v w -‘1}‘ fil‘;';;“ deprecating the rige in sugar on the| MONE‘ TO wA‘ o and whattof 1916 and again cround that it was highly speculative : ecuiation had developed. | A, fot warranted by the status of - e i s sneculntion g Ded. ol emand and supply have all —= s were rushing in at inflated : come from sources Intercated in keep. FIRST MORTGAGES ] p off Ui hands of | {1 [0° JOUTCES nteres « MR.INQUISITIVE Se e Copper Surplus Cut Down. ' | - ; - culative structure| The rise in the copper metal, o | PN e uisiti * a el best point of \l\:;l amounting to mearly :leP cents & AT CURRENT RATES OF INTEREST | Mr. Inquisitive “How do people become wealthy? Mr. Inquisitive -C-n that be done? . i ound since the : - » overdone. But It is abundantly war- i Bl bt ol S 2 pro ranted by the d:}x of production and | ting the moneyil‘mlcll: Lwnlrfi “'I;k -ndwl::- ability and one operating in a proven field. | consumption which show that the i it wiil work twenty-four hours every “Do v | huge oyerhanging sury us, as it stood o b where it Mr. Inquisitive “Do you know of such an lnrfltutl::?”N e | a e beginning o , has been cut = Mr. Knowledge “Yes, a discount banking company, the Nationa (i e e e o .Mf 52 o ner & Co. Mr. Inquisitive “Do you think it difficult to make money?” ®° Morigage and Investment Corporation.” | per were so slow to awaken to the Mr. Knowledge “No, practically all of us can make money. It o o i oe “Bankers usually know good investments—how : truth. They persisted in a hold-off on the price we in work.” Sl i Hene weiae iCemsitionsimaroraie: | ¥ all through the latter half of E @e’u“ is dependent up pri By do they feel toward this corporation?™ s ab s e diopite the testimony of rapidly 1207 Mr. Inqui “Is it hard to save money?” N Knowiadie: Srib hebecs reazediios the NatlonstiMorts tachnical side of th arket situa- | has been a rush to bus once the mar. | wledge “At first, ves. A‘ter having commenced it is gage Investment Corporation is substantially on, but. nevertheless. the most im-| ket started strongls uponeg. lC mar Mr. Knomledge e only casy but the creator of scif-esteem and evidenced by the fact that over one hundred portant side to consider at the pres- | (Copyright, 1023.) happiness.” officers or directors of fifty-one representative — e banks have invested their personal funds in it.” | Mr. Inquisitive “What should we do with the money we save?” e : 3 CUSTUMS REGE'PTS FARM BRED"S B".I_ ! GILT ( ; E RITIES Mr. Knowledge “We should put it to work where it :m not Mr. Inquisitive ;‘:zl-_;:“-‘nm_? u,f;:,‘,';'?‘.""‘" may ! learn ED SECU t :lr?:inl: D.'l.:'i.r ':tf ““;re i e Mr. Knowledge “By mailing the attached coupon.” SHOW |MPURT GAINS| HELPS WHEAT PRICES 7% First Mortgage Notes Secured on Improved D. C. Real Estate Appraised by Experts of 35 Years’ Experience Without a Loss National Mortgage and Investment Corporation Treasury O:wials :Slafted;.vver In-ilkpocrts :ll Damage to Winur' Offered in chomin?;i'o;s of iZSO and Up o - oW s DiC. - come Prospects for Fis- H Top Also Figure in Caus- Good tmen ) 2 4 ) 0,000,000 cal Year. ing Advance. I l CH E Authorized Capital .ceeee- s 9101000} UL R o L - | B the Assnciated Press. | w LL P UR 4 6 $5,000,000 8% Cumulative (Fully Paid and Non-assessable) Preferred 99 for (Jh» fiscal year ending June 30| CHICAGO, March 3.—Higher prices | First and Second Trust Notes Stock ppeared cer ials, who based the new | largely- resulted from passage of the | Warehouse Receipts, and Make Construction Loans a record total for the year | farm eredits bill and from uneasiness . jons ot $43311,000 regarding damage to the wincer crop | ([National Mortgage & Investment Corporation 1in today in the view of 0 the wheat market this week have ' ll oft | $5,000,006 Common Stock (Fully Paid and Non-assessable) Par Value of Each $10.00 the twenty-eight days of Febru- | Compared with a week ago, wheat ! A N ary. In the firet eight months of the this morning showed %c to 1%c gain 811 rmont Avenue W. * W, rirrend "y colectons in i Core was 5t S 5, oate Ve OFFICERS AND DIRECTORS totaled $343.581,352 |up to % to %a%c and provistons - . KEMP DUVAL, In addition to prediction that the|varying from 7c decline to a rise ‘of = ”ngah‘\;m ™ . fmports will increase during the mext | 10c. R e Y il W o AR fow months, some officials asserted | Even though passage of the farm I L i L VB Brevainger & Sons. LA T R mmere, Minor. GAtely’ & Rowiand; Director, National at the receipts would be propor-|credits bill was generally anticipated w H p fi u Un]imlted Tnilders:” President, Citisens Saviags Bank; Director, Bavings avd Trus Co. tionally greater than they were in|DY Wheat traders, the market bulged | e Tave a tractically T 'rn':::-w O ¥, Richmend, Va. DY o - ¥ |to a noticeable tent aft - WM. D. WEST, 3 Bank, < e months of the application | ment was made that the Honse wed Prestent, Rudol West Co.. Par@wars and buflders’ Dirsctor, American Xational Bask, Ridm ! 5 & - e Ameriean e 3 iministration’s tarift law, | Yoted in favor of the mensure. This S\Ipply of flfz’}fl'"b.r‘x‘?.v?’":‘%'.':i e FRANK J. HUGHES, o eifect last September | was > T . 3 3 to effee last September A e more remarkable in view JAMES A, BAILE 1 .3 H Eros, Build ¢ 'the rate of increase IS main- of the fact that liberal profit-taking e iiew T o s improved, the receipts |Sales were simultaneously being made | BRUCE BOW! i4 cbviously will exceed the $45.000,000 | for speculators who had used fore. | President. N. W. Bowe & Son sf Richmond, V HARRY A. KITE, Snonthly average now estimated by Sight as to what action would bei Ferate: formerly president of fhe Virginia Real Eatate Real Estate Agent and Operator. 1hose ministering the law. |taken by Congress. Much of the Assoctation: Vice ident, Nationsl Amociation of EKeal W 6. PIRREON, nother phase of the customs col-|Power of the market to absorb sell- Estate Boards. e et Talon Trust Os., Baltinrore, M&; Vics s which is giving Treasury of- |ing appeared to be due to the gov- = C.S. TAYLOR BURKE, = et Omton Buiiding aud Toan Assoctation, ' Bait! o much_ satl 1 is the pros-|ernment weekly crop report showing Eorke & Ferbert, Baakers, Alezandris, Ve. o pect of further help from the customs | ill effects from drought in the west = FRANK 3. CAUGHY, e v . SAEe i FRmaTON. Sa Sice e R o e e ey omoliny Drvector Tolon Tt Ox. Baltimore, Md. Yormerly Mayor of Baltimors, Md.: Preston & Wield, the budget and fulfilling the Presi- elsewhere from cold. H APPLETON P. CLARK, JR., Architect, Attorneys; Vice President, Calvert Bank, Baltimors. Md dent's hope of finishing the year with| Assertions that farm reserves of B Weahtogton Hotel Co.i Directar, Fauitable Life OLIVER J. SANDS, & balanced financial sheet corn would total about 200,000,000 Josurancs Co.; Direetor, Washington Market Co.: Di- President, American Nationsl Bank, Richmond, Vs : bushels less than in general had been ; Savings ‘Bank. . Presidant, American Trust m"l Richmond, Va.; Execu: tor, Citize! CLARENCE F. DONOHUE, looked for counted as a further rative Association. HORT. s, | pal as T i T tive Manager, Tobacco Growe 2 - ERINIES, [bullish factor in the wheat market, Aobn F. Dopobne & Eons, Real Estate, Tnsurance A (Quotations furnisiied 1y Redmond & €o) | pogides tending to lift prices of corn Wm H Saunders & Co Jeatmets: Director, National Capital Bank. I edlaiat Perkt SavingsliPanks “Bid. Ofter. |and oats, The estimate, If correct, L] . . SAMUEL A. DRURY, Director, Federal American Natonal Bank; Director, meant a r;rlm".ll‘nn of more !h‘lg ] Ame & xl;'i“'gm'; 'Real Entate, Loans azd Iusorance. Qitinens’ Saviags Baok. 5. 103 914 | 400.000.000 bushels compared witl W FRED T. DU : HOWARD T. WILLIAMS, last year's farm reserves and of 1433 K Street N.W. 5 Fx-United States Kepator; President, Capital Service and e srance ! Co.. altimoves, M Informstion Burea about 700,000,000 bushels compared with two years ago. | " Provisions averaged higher with hog values and as a consequence of gome lard buying for Europe, Ger- many in particular. The National Mortgage and Investment Corporation through its management has made favoritism to any one, or any group, impossible, and offers vou its shares on as fair a basis as they can be purchased by any living person. L T L O T I 5 NG 1 O B O N AT R T T PR I D A TR PENNSY PLARS TESTS. FIRST MORTGAGES Operating Capital July 15, 1921, at commencement of business. ... 575.@.20 Road to Try N of Raile to E Operating Capital December 31, 1921.ccmueemsneacecccccesomens $190,775.53 il I:pr:v: :;’r::ec A Proven Investment Operating Capital December 31, 1922, eecrrecomeceerresoacocers $1,544,205.99 PHILADELPHIA, March 3. — The Pennsylvania rallroad system's rails or- dered for delivery in the first six months of this year, 102,000 tons, are to be laid s doky | e, he SR e T i pe: / i\ JEIE takenchances fom) inyestments o The offer is one that should be availed of at once. Inquiry through any re- i s “pound, type: . 4 0 rth rail; 1, \ = 5 5 - = p N s RO e aar entea "rerla and” 1806 tons unknown quality when vou can liable bank in Washington, or through Duns or Bradstreets, will confirm what The National Mortgage and Investment Corporation is making money, is paying dividends and is a proven SUCCESS. rs, R : 5 uthwestern Bell 7s 1 S 1 3 " % s K . & S 1 At G o (ol v s omy 14l m;’;{i{;:;z;:}{,:,,ad?., and manga. s is said as to the standing of the corporation and of the men who manage it as g g 2 'S4 were ordered for experimental 3. o -4 10 | e in the hope o Improving the | officers and directors: & 108 | strength of rall for the double purpose | J P e & L ; ?gefifg:;'m‘""‘;’n:‘?‘e‘?‘fim'm“"%g’e::I FIRST MORTGAGES This security is free from Normal Federal Income Tax and free from the Intangible Tax of the District of Co- used. 5 ! g a lumbia. - ¢ 2 4 TREASUKY CERTIFICATES, ? i ildi i . is represented in the management (@uotations furaisbed by Redmond & Co.) DIVIDENDS. The expert knowledge og b:}‘!_kmg. !:w, Iiguldmg,dar:hxt:sctgg;i;ngt:car]‘_t;stzte is rep g TateMaturty. =4 ; °;§;&.‘.‘.“ . i Stock of Quarter —on improved Washington real estate, mad’;l:xp of men :f :gg%t:?m:k ility in these lines and unquesti grity. i % March 15, E Record. s : ere is no pro Sy . . 3 100 e EE b L R of a which have stood the test of time of | ficers and Directors paid dollar for dollar for their holdings at the same price as the public offering. o 18, 19: American Btee] rios Co. e paid ¢ Aak s September 15. 18 ag e o o on3k g e i over a quarter of a century and that The Trusts which fulfill the requirements are safe and conservative investments. > aan = o Jime 13, 10000 AN B Me. 51 Century yield an adequate return? Your money starts earning dividends immediately and is not held = most cctt;mpladl:uea—mn all .~ . & A - + . . ;. loyed an sol o 7 ha:,“':‘pén e AR PE Apr.15 Without In ameunts of $250.00 and up. stock is sold, factory built, machinery installed, material bought, labor employ produ ;I:E::: 43%4s December 15, 3 T A | 1 A = . 5, 1828, ! ttacl coupon to 5 e s 1. i 08 90 %‘fi{‘{"gz,?&“s; 3\;:: o a Loss Phone, write or mail af wpe Corporation: arr Alpaca B 37 .- - Jone Geac o Mch. 51 > e * -*" Please send information 5 Lone_ 8t s oo > o 5 GYPSUM'S BIGGEST YEAR, |V oo 6% e . Hughes Finance Corporation QP i CHICAGO. March 3.—According 10 |fiihurgn-West Virginia Ra- """ Mo =8 . gage and Investment Corpora- . il e 2 0 S M G A e o ey SAUL CO | 1418 I Street N.W : ; Gypsum C v, 1922 was|ge. Joseph, en i 3 :Vi:le):osl)}lflrofl(ahlr ¥ \r!ir the l\lb s'»r;n“{xé, “i)mu Mch. 15 | B. . g N -1 f the company. ncome; o- § SECS % 5 . . AME ..ceccencscene S e R 12510005 as against 31108 | B0 S0y T pte 18 Mk g Washington, D. C. i oM comsoildation of thirty-five Eyp- Phones: Main 853—854—3317 Address . = sumlpEodusing concetny =nd which| SUGAR FUTURES STEADY, Main 2100. . 1412 Eye St. N.W, tures al nds of plas 'y 5 e ne tile, clc, earned $1219| NEW YORK, March 3.—Sugar fu- & share on common u;lock in 19{2‘2-. 't:i.e« 2«3:!3!:;1 m"‘-“’fi‘.y proxim Sompared with 3916 the year Pres) Y Septomber., 5.57; Decembar, 5% B e s 90 Se v o o< n e Fiscal Agents