Evening Star Newspaper, March 7, 1923, Page 27

FINANCIAL. SOUTHERN RAILWAY EARNINGS HIGHER ™ Big Gain in Freight Traffic. U. S. Treasury Deficit. Graphophone Plans. Souther onth ailway. for current pproximately the of the year, pr £1.100.000 after ot w mmon < deduet dividend and n ferred rement uary s £ $2.834,881 mross was $12,032.413 the 192 oss in the first three weeks $8170.807 with over by last week estimated gross for the month As- totaled about $11.000,000 Ning ratio of and o be expenses timated rent income ebruar: would approxi- cauipment t cperat o and fixed which left for dividends for the 0.000 hs is about irges wbout $2.800,000 vailable S1.946 (ilway system (lines ©d _ substantial « period of Southern east we in- previous marked register- asioncd buy it cased Hting sing British Curreney ‘Frade. by the Del Tanuary. 10 per below number ed out et ar imports {into cspond- value of all dollars corr, and o Do or 4 t 1 eaperts | bruary e month e total ovdi- ordinury re- indebtedness g about £100.000,000 intere roearly pay 1 *s cash balance in gen- $191.486, 188 February Mareh 1 with $2 1611 shabii 9,239 cmber 20, present aenet the curren X recepits. "l mth . Bethlehem-Yidvale Midvile Steel an n. Ordnance ton Een de- Bethle- more shin tial additi ho have ) have not are be- | in order mimated liGin holders' Midvile Guaranty tock ings. Trust vale fwenty md goid boy Ordnanee Company sear & convertible siuking esterday announce Sl wal of the modifi- the Midvale with the plan Hond- | n St ions Lmpany hlehem-Midvale mends 1o th of the y ntere their consy bond 1sed collater hlei ] < nece it with of New the proxy which i will | direet 1t when Midval Prescit in dorsement” this bond i represent the of Frederick W Hizginson & Co.; William 1an of the board of th 1 Ordna ompar chell. pre of the Bank of New Potter, president of Company of efeiler of the of the Midvale Company M ity e o iden liam anty Trust A mitt Graphophone. lders of 1 Colu will offices purpo: ens of rou- circular vester- ophona et parcl in dgcport eoting directon s und for husines hing 1 . for the for th the transacts according sl on to Joc lers nt Howin corge L. William ¢ Dick directorate Mortimer N Barr, Charl A Van Horn Ely rman Kinni- Douglas Par- Bugene k. consists Cox, during 1 hich fum is Stated after deducting ciation and oth expenses, is made up or the follow Loss from all sources after reser previcusly up, interest on f nd L, $1,496,245 reserves and other general dep! ty, plant and equ had ‘debts, The de of ot unded depr arges, in- “iation of prop- pment, $310.072; it of the com business on v at the December 31, le total cur- amounted but $13.846,970 —_— TREASURY CERTIFICATES, nd & Co.) 000, —— ofter. 99 20 e d 99 15-16 | 1018, 103 s furnished by Redms 116 D aotie 011416 101 116 e e 91116 Buck- | HIGHER AUTO PRICES A;E PREDICTED BY MACAULEY | President of Packard Company | Expects Inéreases in Near Future. EW YORK. March 7.—1f the pres- ent trend in material and Jabor costs | continues automobile prices prob- ably will show some in s in the | inear future an Macnuley, presi- {dent of the rd Motor Car Com in A stateme upward trend of inum. copper, leath other materials points to in the producing the critical factor, M is the fact that deliveries, partic ularly in steel. can only be obtained by the payment of a premium i i | 48 oSt o i | COMMODITY NEW S WIRED STAR FROM ENTIRE COUNTRY March 7.—The local Federatioy of | instructed the man- aumkeay Steam for increase i | | sanex union of Textile Mass the American Gperatives has ers newotinte with nt 3 Cotton Compaiy an in w HOUSTON creased is Texus Mz being where el T.—Much in- to- farmers over the 1923 sfits and higher acreage south plowed Gay fare very enthusiastic Lprospect for cotten p Lrices for other products PITTSBURGH materials are in larg and the Nutiona: Fireproofing o Pany reports more orders on is boo than o previous ti 5 his- ftory. Busiiess in the last two wonths s exceeded that of (he same period Hlast year by soveral Lundred per cent today | EL PASO. 508 head of Mareh 7. Americi are now L being cared for in Chihuahua, aceord- {ing to W. I". Cantelou. representative jin Mexico of the War I e Cor- | poration The m.tll« were shipy Mexico e of pnor -~ange| {conditions last fall on this side of the "horder ket here oday 8o far March is practicall #s prices are concer i ouk backs are steady at There is a fair demand for leathers, espee ades. The leather i SAN ANGELO, should be the bedt srowers have knov Yere paid 18 ee long clips. rned from Ma T.-~This vear Texas wool W sinee 1820, when ats A pound for Bankers rece 1y ston @nd Phila Koets are assuring: grow ¥ can expect an average of 30 cents u pound this seaso BEXD. Kan. March 7 - open- oil field in Completion of a test mpire Ol Company has fing arrival of offi 000 feet 1 has been expected flow neive new petion he alaye Ol has i i £ and @ sto {provided to cat PITTSBURGH, March ts of the Pittsbursh Those t retarded as well jare (nat point ar | b car shortage § 1 n stiffe {a result of embargoes which recently were put into effect temporarily by New England railroads —_— | Washington Stock Exchange SALES. Traction—10 at 997, 100, Rws. Capital at 109, 10 100, 10 ut Washingion 2 ar Tl Notfoik 10 . 10 at 2103, Gus Light- Pank and AVTER ton $1,000 at at & P10 at Washington Steamboat Co 10t 2007, 10 at i 10 af 211 and 10 at 20815, 10 10 ot T 12105, w Merlants’ 47 com. -3 10 at 100, 10 at Too, $1000 ] Capital Traction " 1000 Washin at o5 t Money—Call loans, BONDS Bid and Asked Prices. PUBLIG UTILITY at i i | 4 | | $1.000 at 95, . & and & per cent 1 } Rise | Rigas_iiealty | sec. Storage & Safe Dep. Wash. Mkt. Cold Storage Wardman Park Hotel 65 ... STOCKS PUBLIC Tel. UTILITY American | Capital { Washington [N & W. 8 | Wash. Wash Taxi com... Taxi pfd... NATION { Farmers & Federal-America: Liberty | Rigzs TRUST COMPANY, { rity & Trust... { American Sec { Continental Trust. { Merchants' Bauk | Natioual Saviugs and Trust.... on TRUSt,....... aehington Losn aud Savings & Lomlntr-ul. Ntreet. Vishington 3 | Ame: | Corcorai Firemen's .. National Usiou. .. TITLE INSURANC! Columbia Title Real Estate ... MISCELLANEOUS. Columbin Graphophone com Columbia_Graphoplioue pfd... . Merchants’ sfer and St Stergenthaler Linotype 0ld Dutch Market com. Old Duteh Market pfd. Lunston Monotype. Security 'Stora Washington Market..... Yellow Cab..... ‘WOOL PRICES LOWER. DON, March 7.—At auction sales yesterday, | were offered. ! a hesi 1 with t the wool 11,976 bales Prices opened irregular ating demand. As com- e close of the last series les merinos were down 5 to 104 i, crossbreds, fine, 5 per cent; breds. medium, 10 per cent nnnll coarse i to 10 per cenl, feame I The Penag I'HE EVENING DROP IN OIL CUTPUT SEEN N THREE YEARS | Production Now at Peak in North | America, Asserts Columbia I Professor. By the Assoc'ated Pross, PROVIDENCE. R. | duction the continent ¥ the March 7.-—0il 1 North American at peak and within probably within three | tput w the Will begin to decline,” | Iph H, MeKee, profes. Al cugineering in O sity School of M 3 Providence Engineermg MeKee further the prospect increasec peteeleum from wells on | t is nil | fuiure, he said. this country ust look to the deposits of oil shale its petroleum supply. The poten- tialities in this fleld are vast, he de- clared is its rs. of wells in United Lured Dr of chem lumbia Uni bafore the ciety. Dr i IN NEW YORK MARKET | NEW YORK. March nereial 'wo epoct ported in | 1] of cream- New Zea 100-pound | con cireles the v .220,000-pound - cargo atter fry Avckland, snd the of othes poultry from York ay 1 rying ps cargo of New veste market mien announe fleet butter now the high as with n 10,000,000 pounds of New Zealand butter destined for con- umption in this coun Its arrival licted, would send the price ¥ butter down it o of ¥ it was y 1o consumers, Pnts a pound Both the butter and poultry ecar, by of the I turkeys and broile was looked significant, dealers til two years ag pendent upon of which she now surplus to export oes ma al fr the especially sserting t California was de- tes Tor Erows su es upon as plies it TARIFF BOARD IN SPLIT NEEDS PRESIDENT'S AID The Tariff Commi: in attempt featurd tariff, according Press. and the present applications easier tions ‘nvoived imong more than have been filed with members of however, it was the ageney sho ahead on and_ investi reral winy diser! the ssion. = asked on determine the to iher hund yminission. mmiss i toda feel, that cther Leing worked by President Hardi spit in the com stated, will be from Florida to policy as nt of ¢ of the ssion to empioye to inv presente B . retura } ques- was | fe own mplaints it 3 law. comn, its wtive or changes. issue ission was described by is 5o well defined that nothing a_presidential statement the law’s provisions wil 1etive action.’ 1t was hinted in some quarters that or two re fonux may come esx the deadlock is broken. William R Culbertson. @ republican meimber | suporter of the view that th uld wiraised on the b seientific nvestis o results rather than to be continue Congress enncied o have indicated an to quit unless some pro made. He was sver, as having infe cues that he would “zo alons” Mr. Harding has h o ‘examine the recor short ot- intery permi one alic tual 1o airman Marvan is said to the other side of the controvers: inz that it would be extrgjurisd for the commission to Investigate « its initiative and_make recom mendations to the President fo changes in the rates fixed by Congres: DIVIDENDS. Stock of be own 0 5 American Ma Co.. (., S1.50 5 American Machine & Foundry Co.. ., $1.30..... American Machine & Found Co.. q.. 51 Americai Machine & Found } $1.50... n. % of ‘New \an & Trust ColaradeFower sk Duluth Nu|wnur Trac 51 . : ith Saperior Tract 5 H 3 15t I 31 “Dunham ( Dunham ¢ P . iy General Bankiig (o 1 Banking 15,9 pi Reitys a hu(u.‘q. ringtl Iy oorid - Loosk Wiles Biacuit o', d.. . i 3 Logse Wil Bisciid (il & . Mar, Mar. L Supply o, 7 Mar. Yor D q. $1.62%% pf. National City’ Bank. tional City Co. Natlonal City Co. ¥ ns, Penman Sonther B focky | Monntain Co.. u.. 1%% p iy Co.. d.. 1 ofit” Bharing l'mp. Waidorf Sysiem, dort st STAR, day on of Tucsday { taking w Inot as heavily pressed for sale. reasons selves stron radi until Dest price, pointed | and tionally ! traded WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office BY WILLIAW ¥ NEW YORK, litference the MEFFERNAN. March 7.-The ctween the market of to- b exchange and that that, although profit general, stocks were The ater part of the list displayed un- with more than was quite 2 siness, ins W losses re the rise ap- for special nies them- re again es in for were comy operations all they within th adio Necting uipment Radio Corpe 1 Dbl w increased tion of A ntinue Iron Condenser sold at well above 61z Standard of Indiana work the Kentucky stock was excep- weak. The usual violent tions occurred in Prarie Oil orica, com- upward its d lower ind € NEW YORK, March 7 is an official list of bond in_on the New BONDS. A 13 Auglo Ar Ar& Coor 1 Am & Suit t National Leathe N Natiounl Acr & St L Sales STANDARD 011 500 Ao Am 0 \ . 0i & &G ket Can 0N w 4 Bank Oil Kait Hawaiinn 8 N Am Writing Paper T Avmour & Co prd SAr & Co el Del pid ¥ Brit A o Bklyn it B =0 Buddy i Auto Hose o Am Tron Mot entrif Cuyamel DL & W 45 Dubitier € & 18 Durant Motor 2 Durant Mot of Ind 1 Kast Steel 7 Ste R 7 Glen Alden Cos 2 Goodyear T 1 Grifth D W 3 fleyden Chem 108 Household Prod 6 Hy. orp = Lake Tor Bt 18t pf 1 Leligh Power 1 Lucey Wik . D St w pt S0 pfd. 100 Sup Co of Del i1y Pub € s ers w i, 31% Trausportat Ouyx Hose ... Oselda Corp Corp = Corp pfd.. 31 Repetti Candy Tteo Motor Rosenbaum Gr Cor Sheiton Looms w i lte Stores . S &1 tutz Motor ift Intl Pit shar Retail Candy Ko Can Fr shar N Lt & Heat Wayne Conl . e wp N Y Aiuska Brit-Cou Opening down § points at | only | the | of this group were for the most part D. C, WEDNESDAY 2530. the stock rallied 10 points to 260, Royal Canadian and Santa Fe Oil, two latest additions to the oil group, were active, but professional | Sporaiors wers unable 1o bring about | any advance and both issues were ! ( slightly under the previous ost of the day. Large blocks of aboard Oil and Gas again changed hands slightly under recent top prices. _MARCH 71, 923. STATEMENT OF THE CONDITION of the Patriotic Insurance Company of America A1st day of December. the District of ¢ o 20, and Au mmmq ‘apital apital stock, paid up. i cash. eah in bank . Cclosing | Stocks and bonds (r nterest due and acerued. Total assets .. .... LIABILITIES New England Fuel Oil was bid up | Capital stock sharply on beliet that the upward | movenient n this stock was slight in | comparison with other of the oils. . Coal stocks came to the front while realizing was golng on in other !y sections, | The feature of the motor group was ; £ again the sharp advance in Peerless from a close last night of 673 to 74 before the rise was checked. Others reactiopary, Durant of Delaware los- ing_ 2 points, while Cleveland was traded in under 33. Mining stocks fluctuated erratically, with advances and declines about evenly divided. Ely Mont b fax Copper Caledonia Min - umet & Jero andu Copper Canwrio Cop ¢andelarin bl Emerald. . tinental M nes Min tem f o EI” Salvador Emma Silver Enre Coin Mining Gress Mine Hardshell Varmill Nound Independence Lead ¢ Jersey Zu York Porcupin Sandstorm Kendai. Sheldon Mi it Queen Min Corp Nil Mines of Amer SR DUM rearg Siver King Cons Sitversmith Mines Am Gold & P Shearhead Unity “Gold Tuap CHRISTIAN LIFE PRAISED BY SECRETARY WALLACE | Henry . Wallace, of | Agriculture. was the E mid-Lenten heater, Mr. Wallace told man who had strugzled grief and adversity all his life, ing himself sixty forced to face In »f this handicap his sweet- rss of dispe e ful 1t a and Jlishing Avcid Secretary speaker of to- servic Keith's a story | a with | finds ! and | spite | penniless life e at ane Kept and h out- look new lrusi after self to a e 1o give which of eighty he There ure certain g Wallace, “which - to have znewered. Bither th 4 God or there is not. Either ! Jesus was Son of God or e was* Either the Bible contains rul f conduet which we she low or it does not “Either there is a future life or there 15 not 1 leave two ministers who are better qualified than 1 to! argue these questions “1 do not attempt to answer them but 1 do know that the man whose story I have told was enabled to live the Christian life he did because he believed in these truths” Mr. Henry P. Blair Gl Fultz asked the Columbia Quartet sang. hursday Senator Thomas 8 will speak. Dr. W. Sinclair Bowen will preside and the Vermont Avenue ! Christian Church Quartet will sing. CLOTH MARKET DULL. EW YORK, March 7.—The market cotton cloths was dull and in tive today, with dealers hang back apparently to see what cours the market for the raw staple would take. The 7aw silk market was quiet and unchanged. both at Yokohama and here, with quotations at the same his surplus until 1 wor b divd tions,” said we all would good erling & ilevels which prevailed Tuesday. WOOL TRADING DEAD. BOSTON, March 7 (Special). ~The wool market today struck the doldrums, and dealings were smaller than at any | time this year. There is a tendency evident to await developments on the western ranges before going much further in contracting for unsheared wool. Americans are 7eported to be showing little activity in either the British_or Australian markets. Financing Mercantile Corporations S. W. Straus & Co. are glad to considerapplicationsfor financ- ing from large, responsible, go- ing mercantile concerns with fixed real estate assets. By an issue of first mortgage bonds these assets can readily be con- wverted into liquid capital to be put back into the business, thus increasing its earning power. Prompt action on all applications. Write today for literature describidg the Straus Plan, Ask for BOOKLET L Incorporated. Officesin 4o Cities. Established 1882 STRAUS BUILDING 565 Fifth Ave.—at 46th Street New York 41 years without loss to any investor day of Februa 1 .!emm.: by firat deed of trust on res | Surpius $308.583.00 the Total liabilities e haracter of usiness transacted during year 1922: Fire and sprivkler leakage come yevel iponded (lunn»' subscribed DOBBINS, No. 21, Iings Commission expires County No. 20 March 30, 1924, J. LEO KOLB REAL ESTATE 4 938 New Yo Money to Loan estate. commission. L. & Trust &F Prevailing fnterest ar \\'cller G If you have money to -invest, we can safely place it on gilt-edge first D. C. Mortgages. Our record of 30 years insures your protection. Courte- cus treatment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. Co-Operative Building Association Organized 187 13d YEAR COMP] Asnetn <e e $4,857,950.50 Surplux - .$1,180,850.01 Systematic Saving A plan to make saving easy:. Save a little each pay day and vou will be surprised at the amount accumulated in a short time. STE! criptions for the 84th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. IN JOY EDSON. President FRANK P. RELSIDE, Seey. Government, State, Municipal Bonds To Yield 3.48,.—5.25. GRAHAM. PARSONS X Co. PHILADELPHIA NEW YORK WASHINGTON 40S HiBss BLOG. Telephone: Main 2655 $5,000 Life Policy, $43.85 l{ 80 Send date of birth for illustration ablished 1865, Adsers aver. $200.000.000, M. LE BOY GO Insirnce—All Eranches Room 610" Woodward Building If You Believe in the United 8 You Belicve in Washington Seven Per Cent First Mortgage Notes d first mortzage ghest type income pro- improved Washington es as - recommend tl »ughly safe and sound in- vestment for your funds. Notes $100—$250 $500—$1.000 maturities—inter- mi-annually. bouthern Bulldmg Washington, D. C. 813 15th St. N.W. Madn 2430 First Mortgage Loans | Lowest Rates of Interest and Commission. Prompt Action Thomas J. Fisher & Company, Inc. kt l}lh sm_n. Livermore & Co. Members New York Stock Exchange 823 15th St. N.W. and Wardman Park Hotel Main 2790 e, amended | FINANCIAL. e $LOANSS From $100 to $300 on D. C. real estate _and household goods or ¢ 7 per cent interest. No brol % chneed | FAY Jour binis andion one firm., eiaacein Lt & Fizasce Corpmelite Room 211, 921 15th St. N. 7% and fl% High-class Real Elhl! Mortgages For Sale in small and large amounts Cory & Cory, 719 15th St Your March Funds When you place your March investment s in our First Mortgage offerings you obtain: 1. Interest at 62% per annum, paid semi-annually. Refund of the D. C. intan- gible or any State tax up to $5 per $1,000. Choice of maturities—1 to 15 years. Advantages of our Invest- ment Savings Plan, if you want 10 months in which to complete your purchase. That feeling of security which comes from dealin, with a house that has b: of it a record of no loss to any investor in 50 years. Call, write or phone {or descrip- tions of our March offerings. ke F.H.SMITH CO. ounded 1873 1414-1416 EYE ST., N. W. First Mortgage Investments nunn l"l“l“‘n afe Security ound Methods atisfactory Service —are outstanding elements of the desirability of investing s First Mortgage Notes Desirable investing depends solely in judiciously selected securities. We value highly our record of never a loss of as much as a single penny in either prin: cipal or interest. l\n.tu‘ now OI'I I;;nd in de. nominations of 50 up to §5,000. Certified Title turnished with each purchase. Collect- Ing, remitting interest and ail del}llll attended to by our Loan Department. Chas. D. Sager 924 Fourteenth St. N.W. Loan Dept., Main 36 LT BT T T ) anm 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 SHANNON - & LUGH 713 14th Street S We Have a Practically Unlimited Supply of MONEY TO LOAN at 5% % Wm. H. Saunders & Co. 1433 K Street N.W. Your Executor Placing the burdens of an executor upon a single individual—inexperi- enced in handling financial matters, is not wise. Obviously he cannot give the same careful attention to vour affairs as you would yourseli. By naming our Trust Department as Executor or Co-Executor, you can be sure that vour estate will be ad- ministered in every detail exactly as vou wish it—by men thoroughly ex- perienced in such matters. Second National Bank “The Bank of Utmost Service” 509 Seventh Street N.W. 1333 G Street N.W. Alerander Wolf Victor B. Deyber Trust Officer President SOME OF THE ADVANTAGES OF OUR FIRST MORTGAGE INVESTMENTS Your principal is absolutely saie The yield is liberal Interest payments are made promptly shen due. ver a It is always worth par. Quarter g of Century Without You are relieved of all and . details. worry Investments may be made in amounts of $250.00 and up. a Loss B. F. SAUL CO. Main 2100. 1412 Eye St. N.W.