Evening Star Newspaper, May 24, 1923, Page 27

. nounced today. WATER POWER PUT T0 SPLENDID USt New Pooling Method Proves §of Tremendous Value to All Parts of Country. BY J. C. ROYLE. @pectal Dispatch to The Star. #NEW YORK, May 24.—The water ower of the United States, accord- fis to executives of the National Plectric Light Assoclation, is belng more effectively used today than er before in history. This s belng accomplished through wer pools in various sections, which are enabling distributors o Qectrical energy to use the high- @uter perlods of the year for cur- ment production more extensively an in previous vears. . The pooling of power is being ac- ®omplished in a dozen sections of e country by interconnection of fhe transmission lines of companies Ervlng different sections. Power nes of plants generating current by Water power are connected with those erating power plants with coal as el. During the periods of high water, when the first named have an cess of power, that excess is sold nd transmitted to systems which weo coal, or whose water power Is msufficient to meet demands *During perlods of the year when ater flow is lowest the steam-op- erated power plants sell back to the vdroelectric companies their excess t current at the same rate. Thus an unvarying river of power equal % all emergency demands upon it kept flowing over the termination ires. ? Plan Growing Rapidly. “Hundreds of steam and hydroelec- tric plants already have been tied in &n such systems and thousands more are expected to follow suit. There flow a practically continuous ream of power from California to ashington. A half dozen such sys- tems are in operation In the south d ny more in the middle west. reakdowns in one town or district are nullified by switching on the Power manufactured in another. 2 In New York state, two great power companies are on the point of complet- ing the conjunction of their lines. When e 4,000 miles of wires are hooked up ey will carry half the industrial power used in the state as well as the current shpplying many independent street Tail- fay systems. Under the pool, power generated at Niagara, in the 'Adiron- cks, on the Hudson’ and on the Mo- wk, may be used as far south as New- burg, fifty-five miles from this city. 5 Great Benefits Derived. «The economic betterment to the coun- try as a whole from the pooling of mower can scarcely be realized, officials of the electric light association declared today. The cost of electricity since 13 to March of this year declined 2.4 per cent although the cost of coal in- oreased oved S0 per cent, according to partment of Labor figures. Coal In D iamte” reprasents 85 per_ cent of the cost of generating electricity. Rates uld not have been held down, elec- tfical men say, if water power units had not come to the aid of the com- nies using coal. P ke power companies will use 39.- 080,000 tons of coal and 15,000,000 bar- réls of oil in steam plants this year, but tHe amount of coal saved by pooling power will total hundreds of thousands of tons, release thousands of coal cars for other purposes and save the labogy %0 of many thousands of men. * Reduction in Jordan Cars. ZA reduction in the price of Jordan afitomobiles will go into effect next weck. Offcials of the company declared the price cuts had been made possible the greatly increased production with znsvuuenl lessening of overhead cost during the firet part of this year. «“It is the policy of the company be satisfied with a comparatively snall margin of profit” Edward S. Jordan said today, regarding the company’s policy. 'As our product sfieets with public approval and our sales volume increases, price adjust- ments will be made to bring thé car within reach of a larger number of sers. Reductions have not been made potsible by lessened costs of lmbor or materials. They are possi- ble because of curtailment of cost dpe to increased volume of output.” ~Textile Curtailment in the South. ~The move toward curtailment of textile output which has started in New England is making itself appar- ent in the south. About 75,000 spin- s of the 90,000 operated in five ,§u; by the Gray-Separk chain in Gaff- gy county, South Carolina, will be idle next week. It is understood, how- ever, that many of the fine combined yarn mills of that section have or- rs sufficient to carry them at pres- ent production for some time. T $4,000000 Hotel Planned. *ST. PAUL, May 24.—Work I8 ex- pected to start shortly on a new $4,- 000,000 hotel here which is being fmanced by & group of Montana hotel apd ofl men. Activity in buflding is spreading over the northern summer resorts. The latest announcement is that a $200,000 hotel will be started once at Brainerd. £ The carpenters’ strike in Duluth Has been settled by a raiSe in pay te ninety cents an hour. Bakers {n that city have received a 5 per cent ifcrease. (Copyright 1023.) ¢. & 0. EXECUTIVE OFFICES TO MOVE Chesapeake and Ohio President Expected to Remain in Richmond. . H . e ¢ H 5 the Assoclated Press. NEW YORK, May 24.—The execu- tive offices of the Chesapeake and Qpio and Hocking Valley railroad weill be moved early next month to the headquarters in Chicago of the n Sweringen Interests, it was an- President Harahan to have his whil obably will contin; fic in_Richmond, other ces will go to Cleveland. —_— GIMBEL AND SAKS SHOW - : NET PROFITS FOR YEAR Tepartment Stores Make Report to New York Stock Exchange. INEW YORK. May 24.—The report ot Gimbel Bros, Inc, and subsi- dlaries for the year ended January 3, 102, submitted to the New York ock Exchange, showed net profit atter provisions for federal income x, transferred to common stock and 3.1“- of $5,043,605. Net sales amounted to $72,664,768 and expenses, 966,011,163 consolidation bal- ce sheet showed cash -of §$5,075,384 d_ current assests of $24,323,755, ainst current liabilities of $9,275,- ? lablijties s Total assests and & The report of Saks & Co., for the mn, Ty warsac 5. ero $33,676,867. ded December 31, 1923, also to the Stock Exchange jows net profit of $1,120,205. Gro: profits &I!;BI}I'!M 1.)0&.'10 ‘I-;l:‘."' nses called for an outlay o - B 'rfi‘a‘m nce sheet as of De mber 31, last, shows cash amount. ing to $1,169,355 and accounts re- geivable of $699,605. Total current ts. were $5,917,417, while cur- 1iabilities amounted to 3834,974. "I‘oul :»:.l.lls and liabilities FINANCIAL curb market tl followed Wednesds: up sharply as t day went on. in Standard of Indiana. Prairie lan official list of bond traded in on the New York | et today: 18 In INDB. | thoussnds. 2 Dlfl 2 Allied Packers 5 Allled Packers 2 Ainm . nd wi Sumat Tob Rolling M m T & T 6 2 Anaconda T - 108 5 Anglo-Amer ONl Tigs 1027 47 Armour Co Dol 31sa. 9010 1ALG & W I8N0 40 > 2 Can [ 8 Cent_Steel 2 Cit Berv 7u C . 3 Col Graph 8x E Col Gr S guar tr.. 23 ons Gus Balto 6s A 102% DR 8 C 2 Cons Textiles 23 Detroit City Gas 5 Detroit Edison 6s 1 Dun Tire & Rub 5 Fed Land Rank 5S¢ 5 Fed L4 Rank 4% 14 2 Wi 5 3 Fisher 3 Gair. 13 6 Gulf 01l of Pa 0 1 Hocking Valley 6a.. 10015 20 Gen Pet fa .. LTy 6 Hood Rubber Ts . 2 Lowiaville G & E anitobs Pow Maracaibo Of] - Morrie & Co Tls.. 102! Xat Leather s ... 1004 Ohfo Power s T AT, 11 Penn Po & Lt as Fhila 1045 11 Ph e '+ “wear 100 24 Poh Rerr J Tx .. 102y Pub Ser El Pow 6s. 981 23. 1008 romommmanieere 2 820 i ma FOREIGN BONDS. 41 Arzentina 7s "23.... 100% 1004 17 King of Nether 6s.. 1001 997 27 Mexican Govt fs.... 3" 62! Govt 6 11 ovt Blgs 100! 87 U § of Mexico 4 2% !ll:l in STANDARD OIL ISSUES.- un'te 1000 Anglo Am OlI. 1% 8% 109 Atlantic Lobo % 3% 33 Crescent ' L 1% 7% 30 Eureks P L. 1017 100 110-Galena Signai ON.. 42 60y 180 Illineis P L . 188 ‘. 10 L) Magnolia Pet . 0 Northern P L . Ohio Ol & Gas 5300 Vacunm Of) new. 35 Washington 011 Sales in hundreds. 5 Arkansas Natl Gas. 17 Boston. Wyo OIl. 2 12 Barrington Oil. 1 48 Curib Rynd . 5% 8! 4 Clty Bervice . 154 149 3 City Berv ptd L4 200 Engineers et. 19 Federal Ol d 21 Gllliland 0l 4% 25 Glen Rock Ol 90, 1% 3 54 6 = 10 1 Humphrers 0 a0 410 Keyatone Ranger.. .23 .18 11 Pet. B m ax At G 93 8 Mex Panuco. 0 & 3 Mountaln Prod 5% 1% 2 Mount Gulf.. s 1% 214 Maiual 01 Y60 Gt 11 1] RS 3% Ay 3 80 3% Peer 011 Corp.. 8 Penn Beaver Oil 1 2 Pennock Ol 1 Red Bank Oil ne: 3 17 Roval Canad O & % : R: % 34 Kapuipa Reh 5 uips Refin . 24 Reaboard Ol fi 10 Southern P & 87 Konth Reates OIl . % 1 Tidal Osage OIl | 6 Turman Ol 72 Wileox Oil & G % INDUSTRIALS. 5 Allled Packers new. 2 2 ;i ck Pw & L 22% 22% Am Cot Fabric ptd. 101 101 4 Am Gas & El pfd.. 41% 41 §An Ous & B sew w1 374 - 81 1 1 1 1 pid 4 24 24 1A o 1 1 3 37 % 118 ; i 7 Buddy. 4 8 Car Light .. 1 1 % Cellulold Co pfd. ms}z 108 8 Cent : 1 1 1 Centrifug Iron Pipe 123 * 12 23 Check Cab Mfg A. B4 51 18 chleago Nigple 4 3 26 Chic Steel Wheel 2y 2 12 Chic 8t Wheel pfd.. 8 3 2 Cleseland Motor .. 308 2914 ] - 5% 5y 1 88 8Ty 13 % 4 F o 3 .18 18y S 514 12 Eaton B...... 28% 35 20 Federal Telegraph.. 4 3 3 Fora Mot Co Canadd 4137 415 Garland Steamsbip. 1 90 : 1 Gillette 8 R, m o8y 4 ;gus.-;':.gx_ BoBg b sl e ue s, T L!n.mz‘.‘.‘, avannah Sugar 10 80 C & I new ..o. .20 Motor & et BY WILLIAM F. HEFFERNAN. NEW YORK, May 24.—With the ex- ception of the oll stocks, it taok the est part of the first kalf of the session today to absorb the realising sales which naturally tand- ard Oils were the strong features throughout the dealings, but a nume ter of the Independents also were bid Advances of a point or so occurred Line and Vacuum Oil, while Standard of Kentucky, Imperial Oil of Canax NEW YORK, May 24.—Following is stocks Curb Mar- WORLD IS FACIN : In the meht gradually spread to other sec- tions. ~ Durant of Indiana regaine its two-point losa of the morning an subsequently got well above the Wednesday close. Reo was another of thy motor socks that was favored in the buylng. while others of this group either held at or were sl'ghtly bove the closing quotations of Wednesday. brought about a fur- Short covering ther advance in Natlonal Supply of ‘were & the recent Delaware. Lower pri Special vidend. NEW in Glen Alden Coal, declaration of & $3 ne of the active | compiled today from the cotton d! was_transferred Dispatch to The Star. Pipe Columbis Carbo: speculative favorites for the third year in succession. Cd &+ LR r 120 Candelarie” Wi 9,761,000 bales of 500 pounds each. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY r & 2 2B e b 2B BE R R BB R bt 10 Lone Btar ... 8 Leader & 31 ok ¥ eral months. Cotton Interests here di clared that reports of curtallment ago. last fortnight. This has been due tion today. SHREVEPORT, La., May 24.—The r oll has resulted to 170,000. LOS AN tract just West End Ext. oh wigned by "the Gener; 1% Fetroleum Company with the Atla s tle Refining Company. which will 3 end for a period of five years ;‘;'h BOSTON STOCK MARKET. involve the deiivery durlnl’y( 100 BOSTON, May 24.—Following s a|of at least $60,000,000 worth of Ci 427 (st of today's highest, lowest and |fornia ol jclosing prices - for the most active stocks dealt in here: | SAN ANTONIO, May 24. lower prices now are Slight FJELES, May 24—The con ORLEANS, May 24.—Reports > & to Fenner and several of the higher-priced ia- |to the New York Stock Exchan {20ER 19t {he: aoixiRy sues le still larger gaini Mari The market for mining stocks was Bean: large New Orleans and New caibo and Gulf Ol among the inde- |again active but with the price move- | York cotton house, indicated that the pendents were conspicuous, and ti ment irregular. world is facing a short cotton crop 1% | The returns indicate conditions of ¢ o2 |69 per cent of normal compared with xur amounted to 1 5 08, | 69.6 this date last year. They 18% 8% 8% estimate the acresge increase at il k] 67 | per cent, which would indicate about 34 8% 3% |37,500,000 acres planted or to be o 47, | planted and point to & yield of 11 4% 1% 1% 250000 bales a1 10 Experts generally concede that the I i 44 - | world needs & crop of 13,000,000 bale: 41 Production last £ A4 05 20 ATLANTA, May 24.—Southern textile plants are running full time today, hav- ing sold their output for the next sev- o- of New England mill operations have been greatly exaggerated In extent and im- portance. DENVER, May 24.—The hay crop of Colorado 18 expected to approximate 1,580,000 tons this year, compared with 09,000 tons last season. he reserve upply today stimadt at 8 per cent as compared with 17 per cent a year BOSTON, May 24.—Sales of depart. ment stores have shown a slight falling off from early season averages in th o in part to unseasonable weather and partly to the general spirit of caution which has invaded the whole industrial situa. cent cuts of 40 cents a barrel In crude in a reduction in the roduction of crude ofl in_this district from a_daily average of 172,000 barrels i time 1y prevalling for 183 Close. | 70 4 AN - | Texas cucumbers und English peas, 5 [ Am T &wi 2 153" | which have dropped to 10 cents & 1% | Amonkeg .. 5 #0 | puund each. 6% | Arttene “eam T aO%3 ¥ 0" | CHICAGO, May 7 Al ., May 24.—Th g:fi‘:lli z‘lh.ny ‘}:'4 '\ heavy demand today for o Doke & &oan 1" and_ reinforcing n B b 5% | market. Contracts for steel for sev- Calumet & Hecla 375 al large projects are expected to Carson Hill Min 3 be awarded shortly. These include a Connor, J T 23 16,000-ton order for the Unlon League (;n:?::n }l: { Club, 2,500 tons for the tower of the Praes Iribune buildink and steel for one Hardy Coal twenty-one story and one twenty- Hood” nuihe four story office bullding. at Pore Ceme = Inland’ Creek | PITTSBURGH, May 24.—Sheet steel 4R | e o l‘:"-l:‘ron‘:‘ ioday, but the mills are 2 g into an easier Jexican Goverament S8 4% 8 |inatter of orders. SR e R YOUNGSTOWN, Ohio, Ma. 1 » N, , May 24.—By- 3° g3™ g3 !product coke production’ will be 8y 83 % argely increased in this district by £ Mar 97 40 sy |construction work now under way [l & lgx uz 493 | and contemplated. The Republic Iron o % lg ",'?," and Steel Company is installing a Kok % » X iplant and work on the Trumbull- L § &y iy |Cifts Furnace Company's unit will 4% | Yeatu 2y 25 2510 | start in a few weeks. 187" | Waldort 108 19% 19 — - 3 | Walwortn e B B |warren Do 38 3l sl 72 e Mills 1 o1 o1y K National Leather 9 ew 9y ‘1% i 8oty £*/SOUGHT AS SLAYER, 30 £ | ESCAPES POLICE NET UVER U S [:I.AIMS % 23% o 2 |Mulatto Wanted in Killing of| sy EpGAR ANsEL MOWRER, Cleveland Policeman Was Thought By Wireless to The Star and Chicago Daily s ROME) Mey Tortre teans . .—The Italian au- ‘,z“ Mexioan by @irl. thorities' are disturbed by their in- W* ability to get from the American : l"m'mmm“ Press. sovernment a statement concerning 13 MILWAUKEE, Wis., May 24.—John | the American claims on those sume 8y |Leonard Whitfleld, sought as the slay- | Which were advanced to' Austria 45 er of Patrolman Dennis Griffin at|through other states and not directly. - 'Cl-vll-nd‘ promises to rival Gunman | The facts are th Tommy O'Connor of Chicago in elu- siveness and In keeping the police of half a hundred cities and towns in % | this section on their toe Since early yesterday morning the man hunt for the mulatto who e caped the bullets of Madison polie men Tuésday night has centered in Milwaukee. Last night several ne- groes suspected of knowing whereabouts "of the fugitive wei questioned without result. Milwaukes police also were looking for an auto- moblle stolen from Madison about the time Whitfield disappeared. In the meantime, Lieut. Charles O. Nevel of the Cleveland detective de- partment visited Milwaukee and Ra. cine and went on to Madisen to join Assistant County Prosecutor Henry 8. Willlams of Cleveland in collect- ing such evidence as mikht be had 1% |from Marle Price, twenty years old, 13 | taken with Whitfleld before his spec- 108% | tacular escape. Milwaukee police admitted no r 1245 | suits had be obtained from ti o4 |several suspects, but the belief pre- 4 |vailed that Whitfield had come to 3% | Milwaukee, presumably en route 30y | Chicago, ‘where the Price girl 5et | would find s7i4| Whitflel 1314 | son police 10~ | recognized him and 13 :'.5 rs. The Price girl was held. et 5| CRUDE OIL OUTPUT DROPS DURING WEE % % 2 relleve distress as guaranties a first claim on ce tain customs duti 1 “Bo5Rex Siome, these counteien, Jasfinof 7 United State Be"nc Db on the bord e ™ H advanced States thrauxh friendly states, $21,000,000 through Italy. isional act relating to the Au 2 22% 01 41 g bid 24y has $48,000,01 The col a7 116 15! 21§ 18 12% Italy hag renounced on Austria, but w: whether the United S will al. some da: $21,000, ITtaly 0 made through her. having renounced her pose that th 101 re included the congressional act, but they are doubt about it e mother and that she had regarded ‘Whitfleld as & Mexican until Wau- n records identified him H FERES CALL MONEY STEADY. NEW YORK, May 24—Call money| ' Barrels—Slight Slump in » hll;h-l‘*‘m‘;“"-%'h& rudnng 3 ¢losin, L ‘ered a 157 185t Toans 43 call loans against Imports Also. cal 't m. acceptance 4. loans steady. | Mixed collateral, = 60-90 days, 5a5 4-6 months, 6a5%. Prime commer- | By the Asscisted Press. cial paper, b. NEW YORK, May 24.—The dail . average gross crude oil production REPORTS BUSINESS GOOD. the United States decreased 11,6l CHICAGQ, May 34.—Reports of con. | barrels for the week ende 13 ditions throughout country are very | totaling 1,951,850 barrels, s 18% | satistactory, John J. Mitchell, presi- 3 . EEFFES o8 nt of linois Merchants' rust mpany, ‘declared upon his return information reaching here. [ trian loan fails to mention this sum. her first claims &n to know t renounce her claims as covering the loans made through Italy. The Gues. tion {s whether the United States can hold Ttaly for the loan of The American and other govern- ments advanced money to Austria to recelving in return r- Now, to float an Austrian loan un- have renounced their ht ut ition to direct loans, the United 100 including n- .- 20 T in Decrease, However, Only 11,630 Iy Qondy of 50 May 19, | K compar- ed with 1,963,500 for the preceding week, according to the weekly sum- 13%| from Washington. “There has been |mary of the American Petroleum In- 1084 | Miehelt “eaids Tbut o " tondendy [ St T A M s 13| toward infiation. This is principal | ton east of the Rocky Mountains was 3% |1eason why it was decided 'by ‘fed- ’Hfi eral advisory eon:on ‘th:: :hn in- . f el unt rate @ re- Ty 4 fornia production was 685,000 barrels, filfi zf,:,: ki as ngrs- A red with 695,000, a decrease [+ s “x:u'»n'nl of &umnupn‘!' aloride and “if| - WAR VETERAN HONORED. |zefocs, G0, %onded diav 15, totaled - Spectal Dispateh to The Star. rrels, & daily average -of 3 NSBURG, W. Va., May 24.— | 301,000, compared with 154,000, & ol. M. C. Kennedy, now residing in | daily .veur of 221,236 for week Philadelphia, but formerly living in | onded: 3. Recsipts of Californis 2% | Chambe: . and well ‘known | oll (eride and refined ofls) at Atlan- L executive throughout | tic and gulf coast ports for the week ‘section, has been awarded | ended ‘HL 1o totaled 3814, the” eistinguidhed “service medal By 3- dany svirses of 137714, ' Al o en 20001 . A v i chi sl , 142 for the week ‘| the nieeting of VIOLENT CHANGES IN COTTON MARKET Cal s COTTON SHORTAGE e s s rev t bles Keeping Very iCrop of 13,000,000 Bales Needed, While Estimates Put Yield at 11,250,000 Bales. Active Today. BY the Assaciated Press. NEW YORK, May 24.—The cotton market opened firm at an advance of 37 to (47 polnts om covering and 2 scattering demand, relatively firm Liverpool cables and prospects for further showers in the south. Early estimates placéd the notices issued this morning at 11.30 bales, but May held about 140 points over the price of July: Futures open- ¢d firm; May, 28.60; July, 27.10; Octo- ber, 24.35; December, 23.85; January, $3.85. Futures, 11:45 a.m. bids: Jul; Bteady: 26.94; October, 24.30; December, anuary, 28.59. NEW ORLEANS, May 2{.—~Cotton pened steady: May, 27.78: 08, Octobar, 24.18; December, January, 23.21. Rains in the belt ‘and a much higher Liverpool market than due caused advances of 36 to 48 points in the price of cotton soon after the opening today. The upward movement was checked by a private biresu report on the crop, placing the condition at 72.3, the in- crease In acreage at 11 per cent and the. inficated y : Futures. 11 8.10 od; ul; ember, 2 DEFICIT WIPED OUT BY CALLAHAN ZINC First Quarter Net Earnings, $48,- 339—O0ther Wall Street Briefs. BY the Associtted Press. NEW YORK, May 24.—The total fncome of the Callahan Zinc-Lead Compeny, first quarter, 1923, w. 4363,107 and net earnings were $48.339, compared with a deficit of 328,371, for the third quarter of 1920 Jjust prior to the company’s two years' shutdown. President John Berg statys the company is in excellent condition, with approximately $1,000,000 cash on hand. American bankers are inclined to discount the probability of sucess of English holders of Chinese 8§ per cent sterling bills, called for May 28 in London to con- der a Chiness loan. Cable reports state the meeting has been called by Birch Crisp, representing a group which has not joined the four-power consortium. ~consisting of Great Britain, United States, Japan and France. Current earnings of the Bridgeport Machine Company are running at the rate of approximately $760,000 a vear, or the equivalent of $5.50 a_share on the 150,000 shares of no paf common stock outstanding, according to an official statement of the compan: This represents an increase of 40 per cent over the corresponding period. TALK OF RENEWING $50,000,000 LOAN By the Associated Press BUENOS AIRES, May 24.—It is un- derstood that there is a possibility of rénewing the $50.000,000 loan nego- tiated by Argentina in 1921 through Blair & Co, and the Chase National Bank of New York. The loan falls due on October 1 next. The question waw discussed yester. day at a conference between r . Argentina it is indicated, seeks more favorable terma than were obtained originally, when the 7 per cent bonds were issued at 97. BUSINESS BRIEFS. RICHMOND, Va., May 24.—The To- bacco Growers' Co-operative Associ: tion now has a membership of 90,000 farmers in_Virginia, North Carolin. and South Carolina and is the larges co-operative marketing association in country. Through it the farmers have received close to $40,000,000 ;uo:a for their tobacco than they did ast year. CAMBRIDGE. Md., May u.-—-ihlp- ment of milk from this city to Ph! delphia began this week. A large dairy corporation in Philadelphia has established a cooling station here. EASTON, Md., May 24.—A crop of 150,000 cases of early English peas is expected from acres now growing on the eastern shore of land. The crop will be late because of cold weather, but a better output than that of last year is expected. EX-DIVIDEND TABLE. My 25 Acme’ Cosl Mining. Brown Shoe . Continental O . Min. & Smelt Hackeusack Wate Backensack Water 7% pf. Lead_pt. Closk & Sul! ndard O1l of Oil of Amétlcan Btores. “stock. & Fudso Co-Knittar Hob Packing. tman Kodak. ¢ Eastman Kodak, extra Esstman_Kodsk, g Hayes Wheel, Norfolk & Western, TUnited Cigar Stores e i SHORT-TERM SECURITI! (Quotations furnished by Redmond & Co.) ——Noon. == Bia. Asked. Aluminum Co. of Amer. 7s 1923. 1085 1084 Alumi .-of Amer. 7s 1983, 105N 108 Soiton' 1l 64 1 =5 e i Tel. & Tel 1008 T & T i s Copper Agaconda Copper Ts 1929 Anglo-American Ofl 7148 1523.1 102 ‘Asso. Simmons Hdw. 7s 1923... 1004 101 It Tel. of Canada ethlehem_Steel 7s et %8558 3EE35E: : - i E‘gié._- fiil 104 101% es 1097 Westinghouse E. & 108% TREASURY CERTIFICATES. (Quotations turaished by Redumiond & Co.) 33, 193 Bt ber 15 °1923. Jane 18, ‘1924 ber 15 1616 1 encoursged by | 1923, CANADIAN l‘.flNTRfllbi’ OF PAPER FEARED American News Print Indus. try Warned of Conditions Across Border. B the Associated Press. 2 CLEVELAND, Ohlo, May 24.—Can- ada is determined to contiol the paper industry on this continent, Dr. Hugh P. Baker, executive secretary of the American Paper and Pulp Assocla- tion, declared today, In an address jbefore the Cost Assoclation of: the paper industry. The permauency of the industry in the United Stat largely dependent upon the protec- tion of thie nation's forests. he sald. “Undoubtedly the paper industry of the United States faces an increase in the cost of the pulp wood now be. ing imported from Cansda through ' the proposal now being considered'in’; Canada to impose an export tax upon | all pulp wood exported to the United States mills,” he sald. Wil Preduce More Soom. “Within a year ér two,Canada will be prod i, Y fare mewe artat then - ‘woul 2] ar fr 3 now Consideting following up th r s ul T8 to control the news print lnflull& the continent by similar ca s to control othér bl:lllth.' of. the p-pcr'lnflultr; 2 . 9 “Ohlo has Tyeariy 3,006,000 sétes of natural forest”land, nat agriculture, which.is today idle. is enough forest land morth ‘of the’ Ohio river and east of the Mississippt ::unlg;l de. =il £he raw material our eds for sl time if 1t ‘were pm?ucln. a timber crop. fiiges o Gambling Must Ewd. “Our national tenden ‘gam| in raw matarials mist pe- o o There must of the fact that we :zrldld of Ielln years and apt ourselve an Industry to gradual changing of conditions in the ¥ay of the necessity for . bringing our wood and pulp greater distances $nd the increasing cost of thess ma- G ile the paper industry u, 1 than 5 per cent of the total wood cut in the United Btates, the fact that the patlon's forests are’ being cut nearly ve times as fast as they are growing §lves us cause to stop. look and listen an reforest our tdle lands. The pa- per industry is doing this on a large scale, and yet not large enough.” CLOTHS MARKET PERKS UP | Standard Prints Quoted at Prices. lv:l.r:vbi!ht-'h to The r. 2 2 YORK, May 24.—Encouyr: by ‘the atronk ‘opening of ras Gotron the cotton cloths' market perked up somewhat today and di activity than earlier |;nh S Higher 8tandard print clotha were ‘quoted o up, with &4 by S0 at 1o ar ey byt at 11%4. Demand for sheetin the big trade was not. urgest. om wide cloths for water proofing were slightly more active due to inquiries from auto manufacturers, The raw silk market was very here in reflection of the tren. Yokohama, where no sales were re- locally were un- ported. Quotatio. changed from V}’I\eldly‘l level. ¥. & W. APRIL NET LOWER. NEW YORK, Ma: — N and Western Raliway Compamyons $1,- POrts (0t April a net income o 70,793, &8 compared with a n April, ' 1922° of $1.985.902. “Foe® tor jfour months ended April 30 last tge rosd had &3t income of 34 compared With $5.208,973 for the core responding period a year ago. ———— BUTTER GOES LOWER. CHICAGO, May 24 —Buttsr—Lower; ufet at creamery ex ta : extra firats, # ardg seconds, Egs—lowe; eceibts 23, firata. 24%035; " ordingry. Mt 23%; miscellaneous, 24324% Ta ack extras. 27a27%; 1 p Feh, Segasen. L oraee g Washington Stock Exchange. SALES. Ametiean Surety and Trust Co.—3 at 318. AFTER CALL, Nationsl Bank—12 ¥ a1 Traction—y at gy, O 3 4t €38, 51,600 at 108. .‘”‘ = 6s, $1,000 at 100, t 100. Elec. com.—5 at 63%. loaas, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. A American T American Te Am. Tel. & Tel. ctl. tr. Awmer. Tol. & Tel. cony. Avacostis & Potomsc 5. Anscostia & Potomac guar. Sa. Chesa) \"oumnt‘ l‘! ..... pei . Capital Traction . City & Buburban Metropolitan R. R Potomac Blectrie 1st Sx.. Potomac Electric con Potomac Elec. deb. Botomac Elec; Power § i, otomac El. Pow. g. m. 66 1953 Pot. Elec. Pow. &. m. & ref. Ta. 1 . Alex, & Mount Ver. Sa.. » Alex! & Mt. Vernon. ctfa DAl & Ainap. oa. STOCKS. PUBLIC UTILITY. 388 ll“l‘ . National Bank of Washington. TRUST COMPANY, American Security and Trus Contls 1 Frust 3aaugasE s33BuE §EREs FIRD INSUBANCE. <588 Title. iy N o MISCELLANEOUS. jumbla G.4) S .. Ba i Appraised by Experts of 35 Years’ Experience Without a Loss | National Mortgage & Investment Corporation :‘ FINANCIAL ‘Where to Invest Your Bond Money : Of course, you won't want to let that money you cash in.on your Liberty Bonds remain idle @ moment— and certainly you want to put it where it will be profit- able-and secure. ; . 'We offer you an’ opportunity to invest it in First Trust Notes on splendid dewntown property—with the aur"}{.o‘!‘ih returning SEVEN PER CENT. First Trust Notes are an investment—and in no l?nu speculative—safe and sound as the Capitol itself. : ‘We can arrange to place any desired amount—$100, $250, $500, $1,000—and up. Either our Mr. Boss, Mr. Phelps or Mr. Webster will be- plessed to go into details with you. Boss and Phelps The Home of Homes 1417 K Street Phone Main 4340 =7 GILT-EDGE SECURIT . . 7%, First Mortgage Notes Secured on Improved D. C. Real Estate Offered in Denominations of $250 and Up A Good - Investment. . WILL, PURCHASE _ * . First and: Second Trust Notes Warehouse Receipts and Make Construction Loans ‘Bvlvl Veérmont Avenue N.W. Some féw peéople become rich by taking changes, but for the mokt part, the sure way is to save and invest with surety ample to protect you. These {nvestments are known to be * SAFE INVESTMENTS WITH 4 WIDE MARGIN OF SECURITY Paying 6 and 61,% (PAYABLE SEMI-ANNUALLY) Shannon & Luchs First Trust Notes fiuift on-a Straight Line of Return s Not & Fluctuating Value Sold in Denominations of $100, $500, $1,000 ‘. . FULL INFORMATION HANNON - & LUCH ; i Since 1906 MORF¥CAGE DEPARTMENT 713 14th Street N.W. Builde-~s of Washington : 8. Jasper Marshall J R. Marshall's law ‘business is M chiefly the handling of estates, and his experience in this matter has convinced him of the soundness of First Mortgages. For when matters df - ‘the investment of estate funds or trust funds ‘are presented: to the court for ap- proval -there is never a question about the propriety of first mortgages, so long as they are good mortgages. 1t has occurred to Mr. Marshall that perhaps one reason why the courts look with favor on this form of investment < is that, in addition to the element of safe- “ty, they form the means of providing homes for the people of the city. In this way, even estates may be classed among the influences which are building Wash- ington. 4 You, too, can profit by the example of such advice, and secure for yourself a safe investment and thus become one of the potential builders of Washington.. Co. Swartzell Rheem&Hensey 727 155 Street NW. 54. Years Without Loss to an Investor