Evening Star Newspaper, April 10, 1923, Page 23

FINANCIAL RAILWAY COMMON " MAKES NEW HIGH Seven Points Advance to 72 1-8, With Reaction. Broadcasting Rates. BY I. A, FLEMING. There was a decided renewal of activity in Washington Railway and Electric shares. The action of the United States Supreme Court wrefusing jurisdiction in the Pepco case was a decided tonic to the entire market in general and to Rallway common particularly. No one knows just what the outcome of the situation will be as now ex- istent, whether a new valuation will have to be made, or whether there will be compromise action agreed upon between the Public Utilitles Commission and the Potomac Elec- tric Light and Power Company. Yesterday Raflway common improv- ed from an offering at 63% to 65 asked, and the first sale this moring was at 70, with advances to 72%, and after call with a reaction to 70%. In all 360 shares sold at the range given, for there were many tired holders, who have watched the declining trend from 70 and who were glad to get at the higher figures. The pre- 1, to 74, brought 168, and Lib- 3ank shares, 130. in better demand, Rail- ling at 71%; Potomac Elec- trie ruumnm and general mortgage 7 Traction 5s at 97 to 97 Gas A Novel Move. The Washington Loan and Trust Company s about to inaugurate a novel movement, In broadcasting foreign exchange rates from Woodward & Lothrop's establishment every —week day morning at 10 o'clock. By this method the trust company hopes to avoid the troubles it now has in distributing its quotations to its custome Tt would might have some trouble with the fractions, especially in dealing with values of murks and rubles. Made In Error. The New York Times this morning announces an issue of $4,000,000 bonds by the Potomac Electric Power Com- to be sold through the National Bank, the proceeds to be used in refunding a July maturity. ric Company July, as it has maturing s, but its last flotation was handled in good shape by a local in- vestment house and in all_probability local investors will again be given a chance to purchase through local houses. ‘The Potomac Electric Company n tified the stock exchange yesterd that it had canceled $63,000 of 7 p vem| refunding and improvement bonds. This fact and the Pepco decision made the 7 per cent bonds much firmer. The company will issue future financing under the mortgage that secures the 7s, but will market them &t a price that will be more favorable { L0 to the corporation. BALTIMORE LIVE STOCK. 2 at em as if the broadeaster TWO NATIONS TO TAKE UP FUNDING DEBTS TO U. S. Italy and Czechoslovakia to Open Negotiations Here in Near Future. Italy and Czechoslovakia are expected to open negotiations soon looking to a funding of their debts to this country. Official _information was recived yes- terday by the State Department that z delegation from Csechoslovakia, headed by the minister to the United States, Dr. Stepanek, who is already in Wash- ington, might be expected to arrive about ‘April 26 to take up the problem of the debt of $106.292,000, Private advices to the Treasury in- dicated Italy was preparing to take some steps soon toward negotiations over its debt question to this country. EMPLOYERS COLD TO WAGE RULING Business Men See Little Chance of (3 Lowering Pay Below Pres- ent Minimum. Special Dispateh to The Star. NEW YORK, April 10. — Bpsiness men and employers throughout the country could arouse no enthusiasm today over the decision declaring the minimum wage law for women of the District of Columbia unconstitutional, although the ruling may have a de- cided effect in more than a dozen states, Including New York, Kansas, California, Oregon, Washington and Wisconsin. Employers took the attj- tude that with demand for labor at the present high pitch and the trend of wages upward In nearly every In- dustry, minlmum wage regulations had little Interest either for them or for their employes. — Washington Stock Exchange ! SALES. Gapltal Traction 51—$500 at 97. Wikhington lwy. & Elee, 4481000 at 71 ectric g. & ref. Ts—3400 at 1 Washington 10, at 11, 10 at 72 2. 1 t 71, 10 at 4(!"‘. Lo ashington Ky, & Blec praoto ae Fax, t Til, 10 at T4%, 10 at T4%, 10 at 74, A Liberty National Bank—5 at 180. Mergenthaler—7 at 188. AFTER CALL. Capital Traction 55—$1.000 at $7i. ington Gas 55—$1.500 at 943 al Traction Ge_—$500 at 07. ington Rywy. & Elec. com —10 at 70%, 10 at 7035, 10 at 7034, 100 at 70%. Money—Call loans, 5 and 8 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. American Tel. & Tel, American Tel. & Telj Am, Tel, & Tel. ctl. Am] & Tel. conv. ia & Potomac costia & Potomac & P. Telephone C.% P Telephone of ¥ Capltal Traction R. City and Suburban Georgetown Gas 1st Metropolitan R. R. Potomac Elec. 1st 5t Potomac Elec. cons. Asked. lec. Pow. g m. 6. ec. Pow. g, 'm. & Alex, & Mt V. Alex. & Mt V. BALTIMORE, April 10.—Cattle—Re- | W ceipts for week ended at noon yes- terday were 2,453 head, against 1,985 head last week. Receipts, three carloads for market for the Market opened slow, closing rely steady on choice steers; com- mon to good kinds, 25 lower; bulls, < vv\s and heifers steady. C. Driver sold on private terms to Jaeger for account Allen H. Green, y-five fancy white-faced year- fed by Jim Dorrell, Manassas, steers, choice, 9.00a9.50: butcher, 8.00a common, 5.753 T75a8.00; fair to good, common to medium, 6.50a6.00; bulls, choice, 6.00a6.50; fair to good, 5.25a common _to medium, 450a5.00; 5.75a6.00; fair to gond. ommon to medium, 0a vland and Pennsylvania ally 1 lower than above heep and ended head, lambs—Receipts noon rday against head last supply: ‘market about . 1.5026.00; lambs, 10.00a spring lambs on the for t Hogs—Receipts for ended ¥ were 16,050 head, head last week; ply, market shade lower; lights, heavy, 9.10; medium, 9.40; pigs, light pigs, 8.00; rr:ughs, 5.00a week Calves—Receipts for week ended noon yesterday were 1,332 head, against 1,661 head last week; good rupply; market lower; calves, 4.00a 1.0 ——e TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) 00 1-32 9% m? 0516 100 152 01% 101 100510 101 0% 100116 99 9-16 S 4'%s December 15, 192 Mrs. Caroline E. Smith, the new manager of the Los Angeles Phil- harmonic Orchestra, is believed to be the only woman in America to con- trol the activities of such an organ- ization. ninety- | B Wash. Mk.t Cold Storage 5s. Wardman Park Hotel STOCKS. PUBLIC UTILITY. American Tel. & Telga were | Linc TRUST COMPANY. American Security and Trust...* fair | i Wash. Loan & Trust. SAVINGS BANK. American Corcora Firemen’ Nationa! TITLE INSURANCE. Columbla _Title Real Estate.. MISCELLANEOTS, Columbis Graphophons com. Security Storage.. Washington Marke EY dividead. —_— The helmets of the medieval knights always bore the colors of the wearers' sweethearts. R S Our Washingfon Office in charge of EDWIN D. FLATHER offers a personalized investment banking service, suitable to individual and business re- qulrements and based upon nearly twenty- five years’ experience in the selection of safe bonds. 813 Woodward Bldg FASHINGTON Baltimore Calvert and Redw Streets REDUCTION IN RATES ORDERED BY I. C. C. Rallroads serving Houston, San An- tonio, Dallas and Sherman, Tex., were ordered today by the Interstate Com- merce Commission to put into effect on June 5 reductions in all rates on peanut and cottonseed ofls. The measure of the reductions was fixed by a requirement that after June 5 rates from Memphis territory to the four Texas citles be limited to 47.5 cents per 100 pounds; from St. Louis territory, 59.5 cents per 100 pounde;: from Nashville territory, 65 cents, and from Macon territory, was further provided that 1v per cent should be taken from these assigned maximums to make them confor: with the general rate situation, in view of the general freight rate re- duction of July 1, 1922. From producing points in Arkansas and Louisiana to the four Texas cities the railroads also were required to make corresponding reductions which would give a proportionate charge, considering the situation that would arise after the reductions from Mem- phis, St. Louis and other pointa. FOR RENT OFFICE SPACE 804 17th Street Northwest Whole second floor—1,400 square feet—furnished or un- f\lx’rlmshed Rent very reason- able. STONE & FAIRFAX 1842 New York Ave. N.W. If you have money to fince “".n“Za..an pl it on t- it D. C. Mortgages. Our record of 30 years insures your protection. Courte- ous treatment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. Standard 6% Bonds STRAUS BONDS have grown steadily in popu- larity as more years are added to ourrecord,and today are regarded as the standard by which all real estate bonds are judged. We suggest that you investigate these sound 6%securities. Asa firststep, call or write for BOOKLET 935.G S.W.STRAUS:&:- C Incorporated. Officesin4oCities. Established188a Nat. Melro-glnlnxn Bank Bldg. agton. 0. 0 Telephons Matn' 884 41 years without lou to any investor ©1923—S. W. S. & Co. External Loan 30-Year Sinking Fund 5Y%% Gold Bonds Direct obligation of the Republic of Cuba. Issued with the Crence of the United Staten Government _ under, the rovisions of the Trew ated May Tood. Price to yuld about 5.55% Circular upon request The National City Company Washington—741 15th St. N.W. Telephone—Main 3176 How $10 a Month Grows When Invested in Our 6%2% First Mortgages = 2| B. F. SAUL CO. 1,661.07 2,982.61 4,803.13 . 7,31020 10,761.76 15,514.80 22,060.64 To owners in renting and managing . their properties. RENTS That’s Our Business Mortguge Loans 1412 Eye St. NW. Phone Main 2100 GILT-EDGE MORTGAGES able monthly, to {;‘M 19 per cent, secured by C. prop- ert \zrlte and representative will call. Address Box 23-H, Star office. Money to Loan Money to Loan {rst dued ot trum on real sstats. Large Amounts ]ooeyh i"'weuu {5 War £ T Business asd Investment Properties Lowest Rates Prompt Action WEAVER BROS. 735 15th St. The Yearly Losses In insecured investments aggregate mililons. —Our—' First Mortgage Notes Bear & record of 100 per cent safe. Never has ome of our clients lost as much as a single penny in either principal or interest. We Have on Hand A limited amount in denominations of $250 Up to $5,000 Bearing 7% Interest For Full Particulars Apply Loan Department. Chas. D. Sager 924 14th St. N.W. Main 36, 7% First Mortgage Notes Secured on Improved D. C. Real Estate Il Appraised by Experts of 35 Years’ Experience Without a Loss “Offered in Denominations of $250 and Up A Good Investment. WILL PURCHASE First and Second Trust Notes Warehouse Receipts and Make Construction Loans National Mortgage & Investment Corporation 811 Vermont Avenue N.W. ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randall K Hagner & Ca. 2207 Gnnecticeet (Benua Save and Invest Every real estate note holder is & developer of Washington. doing your part along with TUnited States Government. Besides these notes are known to be SAFE INVESTMENTS WITH A WIDE MARGIN OF SECURITY Paying 6 and 6% (PAYABLE SBEMI-ANNUALLY) Shannon & Luchs First Trust Notes Built on a Straight Line of Return Not a Fluctuating Value Sold in Denominations of $100, $500, $1,000 FULL INFORMATION Since 1906 MORTGAGE DEPARTMENT 713 14th St. N.W. You are the We Have Funds Available for the Purchase SECOND TRUSTS Address Box 30-Y, Star Office » 699.19 U’NDBR our Investment Savings Plan all partial payments earn 6%% interest, compounded every 10 months. Take advantage of the attractive tax-free features of these First Mortgage Invest- ments and safeguard yourself with our record of no loss to any investor in 50 years. Call, write or phone (Main 6464) for a free copy of our new booklet: “How to Build an Independent Income.” " bunded FIRST MORTGAGE INVBS'!'MBNTS 1414-1416 EYE STREET, N. W. O LOSS TO ANY INVESTOR IN 50 YEARS EQUITABLE Co-Operative Building Association Organized 1879 43¢ YEAR COMPLETED Assets .. « . - 8$4,657,950.50 Surplus . .$1,180,880.91 Systematic Saving The man with a bank account 1s always * popular. Incre; your popularity by saving s: tematically and consistently. Subscriptions for the 84th Issue of Stock Being Recetved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. Equipment Trusts THe rinanciNG of rolling stock purchases by American railroads through the medium of Equipment Trusts dates back to at least 1868. Equipment trust certificates issued under the “Philadelphia Plan” are secured by rolling stock, the title to which is vested in a trustee until the certificates are paid in full. The excellent record of these obligations for prompt payment of principal and interest testifies to their inherent security. We offer and recommend a number of well-selected equipment trust certificates, issued under the « Philadelphia Plan,” including: Alabama Great Southern Railroad FINANCIATL. Iy Copuepient Depemipatiops For Ipuestors Capital & Surplus. $2,000.000.00 Not Everybody in Washington Deposits —here, but 42,000 people do, and we think such wide- spread endorsement is worthy of comment. {We invite deposits of any size, pay the Same Rate of Interest on both small and large accounts. 27 There's & pass book ready for YOU Natlonal Savmgs & Trust Co. 56th Oldest Savings Depository in Washington Year Cor. 15th and New York Ave. Equip. Trust, Series “ G,” §’s, due 1928-1938 Chesapeake and Ohio Railway Equip. Trust §’s, Series “U,” due 1927-1938 Cincinnati, New Orleans & Texas Pac. Ry. Equip. Trust, Series “G,” §’s, due 1927-1938 Pennsylvania Railroad General Equipment Trust §’s, due’1927-1937 Southern Railway Equip. Trust, §’s, Series “X,” due 1928-1938 Guaranty Company of New York MAIN OFFICE: GUARANTY TRUST COMPANY BUILDING Prices on application Washington Office 811 Fifteenth St., N. W. 140 BROADWAY, NEW YORK Telephone Main 5815 I MUST PROTECT THEIR FUTURE HO\’V often have you said: future; I must make my will.” “I must protect their Then, something else takes your attention, and once again this im- portant duty is set aside. Every man of family realizes the importance of making a will or of revising an out-of-date one. In too many cases, however, these plans are put off and are never carried out. The widow, inexperienced and unfamiliar with estate and financial matters, is left un- protected against the operations of the unscrupulous, and burdened with duties which often far exceed her strength. COMMERCIAL Every Banking Service 3 9% o savines 15th and Penna. Ave. Capital -and Surplus, $5,400,000.00 HOME SAVINGS BRANCHES 7th and Mass. Ave. 8th and H Sts. N.E. 436 7th St. S.W.